Transcripts For RT Keiser Report 20240712 : comparemela.com

Hello im max keiser. Committee here is that weve been saying that a new group of woods is inevitable. And this past week the i. M. F. Said exactly the same thing a new private words is coming oboy stacie lets go well so many people and so much media is focused on the clown car show happening in the us elections that they kind of overlooked this whole i. M. F. Is calling for a new Bretton Woods which of course would be seismic it would coincide with the 50 Year Anniversary and 2021 is a 50 Year Anniversary of the u. S. Dollar standard remember we went off the Gold Standard temporarily and august of 1971 Richard Nixon said there were close in the gold window just temporarily until they could default on their debts to england and of course 50 years later were still defaulting on the debts but we could be seeing a new Bretton Woods who knows whats going to happen but youre talking to simon dixon in the 2nd half about that in the meantime you know really whats going on is that through cities trap that weve talked about which is the rising power china always ends up in conflict with the decline in power which is the United States in the situation we certainly see that heating out and you see that however even in the attitudes of people around the world here is a chart which is worlds leading economic power this question was asked to people in advanced economies around the world and among advanced economy publics 48 percent thought china was the number one power 35 percent thought the u. S. And amongst germans it was 55 percent saw china as a leading power and 17 percent of the u. S. And this is unfathomable a low says adam to use this idea of the 3 cities trap you know it sounds very elegant doesnt it as the its quite historic an epic and. Its a changing of the guard right so were moving from the American Century to a chinese century no doubt and the us dollar as the World Reserve currency had about 100 year run which is normal going back 500 years there was the us turn to have the World Reserve currency and thats all shifting and now we have the new brand would succumb in which is epic because the last one came after world war 2 which was a seismic geo political reordering of the world powers so this is a very and the if i have the election right the election is obviously going to be contentious and weve got a good 3rd 4th quarter of 2020 shaping up max you studied greek tragedy as a student at n. Y. U. You know not only did the greeks give us democracy and philosophy and so much of mathematics and our understanding of humans but they also you know really understood like this sort of inevitability of these cycles of life tread the greek tragedies youre always know whats coming right the chorus is there you know were. Like the chorus of this tragedy were still saying this is about to happen this is where hubris is going to make this person do so it is a perfect time a perfect word to city strap to use for this sort of situation because its just inevitable theres no like good guy or bad guy it is just what it is thats fatal fatalism and it doesnt mean necessarily that one is being cynical if one recognizes the fatalistic quality of certain dramas as they unfold because what makes a good drama is are the rules outlined by the greeks you know 262700 years ago and it is entertaining for that very reason that the ending is known but the hero or antihero walks right into that buzzing saw in my life themselves in extra blade but fatalistically and we see this time in timing. And so the u. S. At any moment they could get off this path and the can of walking into the buzz saw that mick conceivably but fate is drawing them to the blade you know we had Aristotle Plato socrates they understood the the man i think understood but tries us and we always try into the buzzsaw thats the way powerful people are powerful nations do it they just go straight into the buzzsaw theres no other option they can just like kindly walk off the stage you know it just goes into the but is cyclical nature of nature is one that can be dramatize stand in the case of humans they typically will be drawn to a fatalistic end unnecessarily and thats what makes it tragic speaking or tragic just look at that chart this is our deficit numbers plunging here it is the deficit serves the us record it is why despite the deficit in fiscal 2020 since the 2nd world war that was a tragedy was which it was a massive global tragedy at the end of the last empire of the British Empire and you know the rise in power at that time was germany and the and the us but they decided to fight germany right in the us went into massive debt to win world war 2 it was a kind of a gamble and its like amazon went into massive debt for many years to become the worlds biggest retailer and it paid off and jeff bezos is the worlds richest man but this time america went almost into similar debt and before its all over probably it will have bought more debt but without any payoff theres no way that there will reap any reward to this because they are hauling themselves out after world war 2 the us was intact the rest of the world is in shatters here the us is in shatters and the rest of the world is on a relative basis in different layers and levels of being shattered and it becomes kind of a battle of the most shattered and in that battle the us has done necessarily got the best poker hand its mazing that to me that the timing of this new brand woodstock comes at the exact same time debt. Levels in the u. S. Were where they were during and just after world war 2 so when you get into those huge debt levels and you need to reset you realize your paper funny money is no longer valuable you need to appeal to the globe now we were essentially americas tapping out or tapping out and saying we need to reset the shining city on the hills about to go bankrupt please help us please help us so theyre going to go to the global Bretton Woods to play this massive geo political financial poker game and as weve said on the scam show before the u. S. Is holding not a great hand everybody was and after world war 2 but mostly today and say everybody owed the United States money at this time when we enter this 2nd Bretton Woods what we see is there are videos china money however i think china understands theyre not actually going to get paid back like the Marshall Plan loans were paid back you know the last them only just paid back in the last 2 or 3 years but the china knows im not going to get paid back thats why i think they built up a huge amount of infrastructure during the past decade especially so the original article mo hussein says that u. S. Budget deficit tripled to a record 3 point one trillion a fiscal 2020 spending soared 47 percent in the year and to september 30th in this case we have what the you know the equivalent of world war 2 is this pandemic and its cause a hit to global economies to now not as many deaths obviously but it has hit production and manufacturing capacity and with that you know we also at the same time have a u. S. Election and Goldman Sachs saying this sell us 1. 05 silver investor should look into selling the u. S. Dollar they say and buying silver into the election according to 2 reports from Goldman Sachs there is a growing risk that the u. S. Dollar will plunge to its 2018 lows as democratic candidate joe biden continues to extend his lead in the polls prior to november 3rd so they see that a fight and win would be bad for the da. Dollar i guess they assume a resumption of the china relationship joe biden was quite instrumental in the whole w t o bringing them into the. Opening trade relations with air and you know allegedly his son also has big dealings with china so they just see a more favorable relationship with china and therefore a continuing decline in u. S. Manufacturing and expansion of the deficit and perhaps m. M. T. In more money printing sort of situation for a role dont blame the pin for the bubble right so there was a bubble building in the u. S. Economy the Global Economy for years now and the virus current virus is potentially the pin anything could have been the pin beginning of this year we outlined 6 or 7 things i could be the pin to pop the bubble i think im not sure pandemic was on that list but it did rule doesnt really matter what the pin is the bubble could have been. Eased in and deflated long ago but it never was and so now its popping and Goldman Sachs is saying well you know this job by the way and outcome could cause a crash on the dollar maybe maybe not in terms of relating to the biden whether hes in or not doesnt matter actually whos in the white house the the fact is that the dollar is toast and were garble so whos of the white house they all see silver rising becomes of solar power they believe thats going to expand massively in the next 10 or 20 years but on top of that you know if you really look at this the slow start of greek tragedy unfolding you dont have to look at any sort of part of the news or whatever any spend just look at the charts yourself and see what happened in 2000 and that in 19932001 not only do we have the dot com collapse but we also had the commodity futures modernization act and the repeal glass steagall which was those 2 i believe were crucial to allowing the china into the most favored nation status in 2001 just after 911 so all of these things happened at the same time weve got to export our manufacturing it domestic elites no longer need. Did the workers they didnt need productive wealth in this country because of the commodities futures modernization act and the huge explosion and derivatives that followed that so i think all of those go together and that tragedy has been unfolding for 20 years weve seen this coming right and what so in the tragic greek drama of the character flaw of the protagonist is that they might be greedy or full of hubris and so they are inextricably tied to this tragic ending and weve been saying for years ok based on the greed of america its an Economic Policy its not trying to cure wealth and income gap and stop trying to be egalitarian its just greed greed greed greed dressed up as Something Else which would have a tragic ending and now the buzz saw of tragedy is fast approaching and the u. S. Cannot do anything extricate from this path of destiny of the fatal destiny that it that it is that in extra could be tied to therefore we must understand that the only way to find solace on an individual basis is to think of ourselves as having individual sovereignty instead of being tied to a sinking ship of a nation state but you never know where our truth is going to come from now and thats why i am against all these things that are revisionist in nature because you never know actually will matter what the surface there is some underlying truth that can be useful the truth is that the electorate me the bad decision after bad decision partly because were only ever presented with 2 protagonists to choose from to rule this decline into the end we only ever had 2 options and of a nation of 340000000 and sure enough we you know as i think was h. L. Mencken said that one day the people who america in this great democracy will choose the moron they they deserve to rule the country and you know thats what we kind of have these 2 choices. Is. A decline right of various abilities and well thats it you know and thats what we have a new Bretton Woods yeah i think everybody outside the United States is like thats why that might be time for a new Bretton Woods and Goldman Sachs is saying dump the dollar theyre actually suggesting short a dollar short to the dollar so theyre saying bet against america and that all of the Warren Buffett stone tragically we need a spine when we come i must take a break and come back after the break fantastically for you say to. There is a saying in washington dont let the perfect be the enemy of the good this appropriately describes the Political Warfare over another stimulus time and to center of this standoff is who wins or loses just prior to the election in the meantime tens of millions are suffering with no end in sight. Americans love buying homes. And this was a fundamental part of how our Political Leadership and our country at large understood the bargain you get a hope and then you know rebel right as the things you dont revolt if you have a stake in the system. And be really interested in dialing back and think about the longer deeper history housings man in the United States not just that old question of the American Dream but the bigger question of who the dream is and for. An entire village in alaska. If another country threaten the wife of an american. We do everything in our power to protect. Wanted me to skipping Climate Change poses the same threat right now alaska seems some of the fuss just coastal erosion in the worlds last about 35 feet. 35 feet of ground in just about 3 months while we were measuring. Is fast and he says the river is 35. 00 closer than how. Was or anything were part of her 1st. Welcome back to the kaiser report im max keiser time now to go to simon dixon of bank to the future dot com simon welcome back to kaiser report exactly max right simon dixon theyre not bad going for a new brand new words youve been gone viral with your video breakdown of this year going through the whole thing what does it mean as opposed dollar world is it a bank or are we not Gold Standard of digital s. T. R. Central baghdad still currencies what do we look for you know what i think is going to be a Central Bank Digital currency i think were going to see as we talked about in one of the previous episodes on guys are both the absolute tax on the banks and i think this is a central bank led wolves now and Central Banks are sucking up all the assets all around the world it had taking on too many of those toxic assets i think the i. M. F. Is getting ready to roll up all of the Central Banks into one i. M. F. Central Bank Digital Currency its. The trends is this is what theyve been looking for for a long time so the i. M. F. Came out of the last rites and was meeting in 1984 when they removed the Gold Standard and moved it to a gold dollar debt back standards and then in 71. 00 the us decided to take remove the Gold Standard and move it to a full fee of debt based ponzi scheme and so i. M. F. Started losing some of their significance and the plan. We now list is the latest news of making sure that they get 1st to market with the Central Bank Digital currency chinas be in the test bed at the moment but they dont want china to start in traction around that and so you i. M. F. World bank bank of International Settlements and theyre getting ready to put together their one global lud Digital Currency and theyre calling for Bretton Woods to so that they can start implementing and. Ruling out another way to look at this is to characterize this as caught a great race that the big reset of course Bretton Woods was the big reset post world war 2 but what exactly is precipitating the name for this big reset im assuming that the global increase in debt has something to do with it simon yes so everyones maxed out on their credit cards to Central Banks to starting to max out on their credit cards were reaching the new you know the new school of thought is all about modern monetary theory whereby Central Banks and governments can just spend money into the economy hands we can have on limits of printing were getting ready in england the bank of england already reached out to all of the clearing banks and said are you ready for negative Interest Rates is that going to cause any problems with your technology because were getting ready for the negative Interest Rates and so you know all of these these different trends are coming together and everybodys you know they already facebook trying to get there as out now weve told the Central Banks getting ready should as they want to automate negative Interest Rates automate tax collection or to mesa valence connect the Central Bank Digital currency to you know compulsory vaccines whatever agendas or whatever goals they might have this is really the control that is needed that theyve been pushing for ever since 911 when you know previously laws have been gradually moved and when transfer Money Laundering laws and this really is the Central Bank Digital currency deciding that they can actually if all these banks or even leverage shifts and if they didnt take enough of that old sick asses and sell enough of them to your pension then a getting ready for banks being able to collapse consumers not using their money but making them download or not download their Central Bank Digital currency and put all these different Bretton Woods<\/a> which of course would be seismic it would coincide with the 50 Year Anniversary<\/a> and 2021 is a 50 Year Anniversary<\/a> of the u. S. Dollar standard remember we went off the Gold Standard<\/a> temporarily and august of 1971 Richard Nixon<\/a> said there were close in the gold window just temporarily until they could default on their debts to england and of course 50 years later were still defaulting on the debts but we could be seeing a new Bretton Woods<\/a> who knows whats going to happen but youre talking to simon dixon in the 2nd half about that in the meantime you know really whats going on is that through cities trap that weve talked about which is the rising power china always ends up in conflict with the decline in power which is the United States<\/a> in the situation we certainly see that heating out and you see that however even in the attitudes of people around the world here is a chart which is worlds leading economic power this question was asked to people in advanced economies around the world and among advanced economy publics 48 percent thought china was the number one power 35 percent thought the u. S. And amongst germans it was 55 percent saw china as a leading power and 17 percent of the u. S. And this is unfathomable a low says adam to use this idea of the 3 cities trap you know it sounds very elegant doesnt it as the its quite historic an epic and. Its a changing of the guard right so were moving from the American Century<\/a> to a chinese century no doubt and the us dollar as the World Reserve<\/a> currency had about 100 year run which is normal going back 500 years there was the us turn to have the World Reserve<\/a> currency and thats all shifting and now we have the new brand would succumb in which is epic because the last one came after world war 2 which was a seismic geo political reordering of the world powers so this is a very and the if i have the election right the election is obviously going to be contentious and weve got a good 3rd 4th quarter of 2020 shaping up max you studied greek tragedy as a student at n. Y. U. You know not only did the greeks give us democracy and philosophy and so much of mathematics and our understanding of humans but they also you know really understood like this sort of inevitability of these cycles of life tread the greek tragedies youre always know whats coming right the chorus is there you know were. Like the chorus of this tragedy were still saying this is about to happen this is where hubris is going to make this person do so it is a perfect time a perfect word to city strap to use for this sort of situation because its just inevitable theres no like good guy or bad guy it is just what it is thats fatal fatalism and it doesnt mean necessarily that one is being cynical if one recognizes the fatalistic quality of certain dramas as they unfold because what makes a good drama is are the rules outlined by the greeks you know 262700 years ago and it is entertaining for that very reason that the ending is known but the hero or antihero walks right into that buzzing saw in my life themselves in extra blade but fatalistically and we see this time in timing. And so the u. S. At any moment they could get off this path and the can of walking into the buzz saw that mick conceivably but fate is drawing them to the blade you know we had Aristotle Plato<\/a> socrates they understood the the man i think understood but tries us and we always try into the buzzsaw thats the way powerful people are powerful nations do it they just go straight into the buzzsaw theres no other option they can just like kindly walk off the stage you know it just goes into the but is cyclical nature of nature is one that can be dramatize stand in the case of humans they typically will be drawn to a fatalistic end unnecessarily and thats what makes it tragic speaking or tragic just look at that chart this is our deficit numbers plunging here it is the deficit serves the us record it is why despite the deficit in fiscal 2020 since the 2nd world war that was a tragedy was which it was a massive global tragedy at the end of the last empire of the British Empire<\/a> and you know the rise in power at that time was germany and the and the us but they decided to fight germany right in the us went into massive debt to win world war 2 it was a kind of a gamble and its like amazon went into massive debt for many years to become the worlds biggest retailer and it paid off and jeff bezos is the worlds richest man but this time america went almost into similar debt and before its all over probably it will have bought more debt but without any payoff theres no way that there will reap any reward to this because they are hauling themselves out after world war 2 the us was intact the rest of the world is in shatters here the us is in shatters and the rest of the world is on a relative basis in different layers and levels of being shattered and it becomes kind of a battle of the most shattered and in that battle the us has done necessarily got the best poker hand its mazing that to me that the timing of this new brand woodstock comes at the exact same time debt. Levels in the u. S. Were where they were during and just after world war 2 so when you get into those huge debt levels and you need to reset you realize your paper funny money is no longer valuable you need to appeal to the globe now we were essentially americas tapping out or tapping out and saying we need to reset the shining city on the hills about to go bankrupt please help us please help us so theyre going to go to the global Bretton Woods<\/a> to play this massive geo political financial poker game and as weve said on the scam show before the u. S. Is holding not a great hand everybody was and after world war 2 but mostly today and say everybody owed the United States<\/a> money at this time when we enter this 2nd Bretton Woods<\/a> what we see is there are videos china money however i think china understands theyre not actually going to get paid back like the Marshall Plan<\/a> loans were paid back you know the last them only just paid back in the last 2 or 3 years but the china knows im not going to get paid back thats why i think they built up a huge amount of infrastructure during the past decade especially so the original article mo hussein says that u. S. Budget deficit tripled to a record 3 point one trillion a fiscal 2020 spending soared 47 percent in the year and to september 30th in this case we have what the you know the equivalent of world war 2 is this pandemic and its cause a hit to global economies to now not as many deaths obviously but it has hit production and manufacturing capacity and with that you know we also at the same time have a u. S. Election and Goldman Sachs<\/a> saying this sell us 1. 05 silver investor should look into selling the u. S. Dollar they say and buying silver into the election according to 2 reports from Goldman Sachs<\/a> there is a growing risk that the u. S. Dollar will plunge to its 2018 lows as democratic candidate joe biden continues to extend his lead in the polls prior to november 3rd so they see that a fight and win would be bad for the da. Dollar i guess they assume a resumption of the china relationship joe biden was quite instrumental in the whole w t o bringing them into the. Opening trade relations with air and you know allegedly his son also has big dealings with china so they just see a more favorable relationship with china and therefore a continuing decline in u. S. Manufacturing and expansion of the deficit and perhaps m. M. T. In more money printing sort of situation for a role dont blame the pin for the bubble right so there was a bubble building in the u. S. Economy the Global Economy<\/a> for years now and the virus current virus is potentially the pin anything could have been the pin beginning of this year we outlined 6 or 7 things i could be the pin to pop the bubble i think im not sure pandemic was on that list but it did rule doesnt really matter what the pin is the bubble could have been. Eased in and deflated long ago but it never was and so now its popping and Goldman Sachs<\/a> is saying well you know this job by the way and outcome could cause a crash on the dollar maybe maybe not in terms of relating to the biden whether hes in or not doesnt matter actually whos in the white house the the fact is that the dollar is toast and were garble so whos of the white house they all see silver rising becomes of solar power they believe thats going to expand massively in the next 10 or 20 years but on top of that you know if you really look at this the slow start of greek tragedy unfolding you dont have to look at any sort of part of the news or whatever any spend just look at the charts yourself and see what happened in 2000 and that in 19932001 not only do we have the dot com collapse but we also had the commodity futures modernization act and the repeal glass steagall which was those 2 i believe were crucial to allowing the china into the most favored nation status in 2001 just after 911 so all of these things happened at the same time weve got to export our manufacturing it domestic elites no longer need. Did the workers they didnt need productive wealth in this country because of the commodities futures modernization act and the huge explosion and derivatives that followed that so i think all of those go together and that tragedy has been unfolding for 20 years weve seen this coming right and what so in the tragic greek drama of the character flaw of the protagonist is that they might be greedy or full of hubris and so they are inextricably tied to this tragic ending and weve been saying for years ok based on the greed of america its an Economic Policy<\/a> its not trying to cure wealth and income gap and stop trying to be egalitarian its just greed greed greed greed dressed up as Something Else<\/a> which would have a tragic ending and now the buzz saw of tragedy is fast approaching and the u. S. Cannot do anything extricate from this path of destiny of the fatal destiny that it that it is that in extra could be tied to therefore we must understand that the only way to find solace on an individual basis is to think of ourselves as having individual sovereignty instead of being tied to a sinking ship of a nation state but you never know where our truth is going to come from now and thats why i am against all these things that are revisionist in nature because you never know actually will matter what the surface there is some underlying truth that can be useful the truth is that the electorate me the bad decision after bad decision partly because were only ever presented with 2 protagonists to choose from to rule this decline into the end we only ever had 2 options and of a nation of 340000000 and sure enough we you know as i think was h. L. Mencken said that one day the people who america in this great democracy will choose the moron they they deserve to rule the country and you know thats what we kind of have these 2 choices. Is. A decline right of various abilities and well thats it you know and thats what we have a new Bretton Woods<\/a> yeah i think everybody outside the United States<\/a> is like thats why that might be time for a new Bretton Woods<\/a> and Goldman Sachs<\/a> is saying dump the dollar theyre actually suggesting short a dollar short to the dollar so theyre saying bet against america and that all of the Warren Buffett<\/a> stone tragically we need a spine when we come i must take a break and come back after the break fantastically for you say to. There is a saying in washington dont let the perfect be the enemy of the good this appropriately describes the Political Warfare<\/a> over another stimulus time and to center of this standoff is who wins or loses just prior to the election in the meantime tens of millions are suffering with no end in sight. Americans love buying homes. And this was a fundamental part of how our Political Leadership<\/a> and our country at large understood the bargain you get a hope and then you know rebel right as the things you dont revolt if you have a stake in the system. And be really interested in dialing back and think about the longer deeper history housings man in the United States<\/a> not just that old question of the American Dream<\/a> but the bigger question of who the dream is and for. An entire village in alaska. If another country threaten the wife of an american. We do everything in our power to protect. Wanted me to skipping Climate Change<\/a> poses the same threat right now alaska seems some of the fuss just coastal erosion in the worlds last about 35 feet. 35 feet of ground in just about 3 months while we were measuring. Is fast and he says the river is 35. 00 closer than how. Was or anything were part of her 1st. Welcome back to the kaiser report im max keiser time now to go to simon dixon of bank to the future dot com simon welcome back to kaiser report exactly max right simon dixon theyre not bad going for a new brand new words youve been gone viral with your video breakdown of this year going through the whole thing what does it mean as opposed dollar world is it a bank or are we not Gold Standard<\/a> of digital s. T. R. Central baghdad still currencies what do we look for you know what i think is going to be a Central Bank Digital<\/a> currency i think were going to see as we talked about in one of the previous episodes on guys are both the absolute tax on the banks and i think this is a central bank led wolves now and Central Banks<\/a> are sucking up all the assets all around the world it had taking on too many of those toxic assets i think the i. M. F. Is getting ready to roll up all of the Central Banks<\/a> into one i. M. F. Central Bank Digital Currency<\/a> its. The trends is this is what theyve been looking for for a long time so the i. M. F. Came out of the last rites and was meeting in 1984 when they removed the Gold Standard<\/a> and moved it to a gold dollar debt back standards and then in 71. 00 the us decided to take remove the Gold Standard<\/a> and move it to a full fee of debt based ponzi scheme and so i. M. F. Started losing some of their significance and the plan. We now list is the latest news of making sure that they get 1st to market with the Central Bank Digital<\/a> currency chinas be in the test bed at the moment but they dont want china to start in traction around that and so you i. M. F. World bank bank of International Settlements<\/a> and theyre getting ready to put together their one global lud Digital Currency<\/a> and theyre calling for Bretton Woods<\/a> to so that they can start implementing and. Ruling out another way to look at this is to characterize this as caught a great race that the big reset of course Bretton Woods<\/a> was the big reset post world war 2 but what exactly is precipitating the name for this big reset im assuming that the global increase in debt has something to do with it simon yes so everyones maxed out on their credit cards to Central Banks<\/a> to starting to max out on their credit cards were reaching the new you know the new school of thought is all about modern monetary theory whereby Central Banks<\/a> and governments can just spend money into the economy hands we can have on limits of printing were getting ready in england the bank of england already reached out to all of the clearing banks and said are you ready for negative Interest Rates<\/a> is that going to cause any problems with your technology because were getting ready for the negative Interest Rates<\/a> and so you know all of these these different trends are coming together and everybodys you know they already facebook trying to get there as out now weve told the Central Banks<\/a> getting ready should as they want to automate negative Interest Rates<\/a> automate tax collection or to mesa valence connect the Central Bank Digital<\/a> currency to you know compulsory vaccines whatever agendas or whatever goals they might have this is really the control that is needed that theyve been pushing for ever since 911 when you know previously laws have been gradually moved and when transfer Money Laundering<\/a> laws and this really is the Central Bank Digital<\/a> currency deciding that they can actually if all these banks or even leverage shifts and if they didnt take enough of that old sick asses and sell enough of them to your pension then a getting ready for banks being able to collapse consumers not using their money but making them download or not download their Central Bank Digital<\/a> currency and put all these different Central Banks<\/a> Digital Currencies<\/a> caring for one global Digital Currency<\/a>. Issued by the i am asked a Bank International<\/a> system and some will banks and they want to make sure that dave barry there are a dissenter of that they say with their special during writes im now they want to go for policy right and of course you know ive been talking about this really since 2008 you know theres a lot of videos online maximizer sime index on various news organizations talking about the Global Financial<\/a> crisis of 2008 when the banks were not allowed to fail they took all of those debts on their Balance Sheets<\/a> and they were bailed out by the Central Banks<\/a> and they were prevented from having seen the clarin sob and say here we are 12 years later and the Central Banks<\/a> have sucked up all that bank debt as much as they possibly can so the Central Banks<\/a> native bailout so how do you ballad a central bank were talking about and what others have talked about is a 100. 00 trillion dollar or more Credit Facility<\/a> or Lending Facility<\/a> and to roll up all that Central Bank Debt<\/a> into a global Loan Facility<\/a> and so what youve done is youve dig into it a little bit and youre saying that the s. T. R. The special drawing rights or the even a digital s. T. R. Is not going to work will look like its going to be global Central Bank Digital<\/a> current say and well as you point out deposit r. s are not going to be in encumbered or at risk the banks will effectively protect deposits but they will allow the banks this time to throw them under the bus is that correct in that you see that and could you go into that a little bit yes so the banks have been leveraging up like crazy when they reach they try to siphon off as much of that old sick prostitutes to your pension by sticking no aaa rating on it so that they can sell the investment grade. And some of those have been downgraded so they can no longer be sold to your bench and so theyre looking at what the next options are while the traditional playbook during the last financial crisis was hold tight spot. Is to ransom by being too big to fail blog dates and baby ingests take peoples deposits to recapitalize or buying and then issue them some saw its Monetary Policy<\/a> is no longer working and will close of this and any. Governments around wont have been employed in saying the most aggressive fiscal stimulus is that they can muster funded by a quantitative easing and then the next thing needs a soft thinking about well what if people you know funding the wolds well what happens when the stall actually funding the loans and covering their mortgages all of these packages eventually youre going to get really a safety flaunts people can no longer afford their mortgages and we need to saw thinking about music a sense of back. On banks and the easiest way to perhaps need to do that now or see just replace the money that was created by the Private Banking<\/a> sector has that let the banks theyve bought new congress and central deposit insurance you know s. T. R. I see no need in the last savings and loan crisis you know that was the savings and loan s l d r e c which needed 150000000000. 00 bailout and what rolled up into f. D. R. I see because actually i see is the only insuring less than one percent hold deposits they can any allow one too big to fail to go boss and so they have to pick those winners and they want more than one too big to fail bankers and for a whole. S. T. I. C. Doesnt have that and so robs and allowing consumers so news will that suppose its just simply awesome download do not stick in the terms and conditions everything that you want them to do and they can get that free money they can get that helicopter money. And get that deposit saxony cupboards by this new debt well actually this is a non debt its money. Were replacing its a deed. Averaging mechanism for replacing all the leverage it was great single bands are replacing it with these currencies we need these laws youre going to say shit and so you know the next election in the United States<\/a> is such an important election because your whole body to renegotiate the future money and all your math is definitely going to want to get their way in the eye make sure the bam more significant replacing the dollars sounds when its the us global Central Bank Digital<\/a> currencies that will throughout history its been necessary occasionally for governments and banks to declare jubilee are at that table a are a set and so thats not new i mean thats rather than Inflection Point<\/a> where a reset and a date leveraging as require a difference here however is that they banks have a way to go about this is saying a crypto currency which is not debt but equity based to protect the posit errors and to leverage the economy so the big question is jail politically the i. M. F. Theyre calling for this now Bretton Woods<\/a> who gets a seat at the table who loses and will gold be a factor simon i dont think goes going to be a shot in the design off the new Financial System<\/a> i think that if you have enough gold to g. D. P. Reserves in your central bank will your country. Unite since then he says Russia Germany<\/a> represents in europe trying to certain has been achieved in a small well this is where you get a seat at the table at Bretton Woods<\/a> soon by having a not so goal to g. D. P. Reserves to actually be significant now all of the other Central Banks<\/a> able to stop thinking about well what do we need to become significant and thats where i think were going to saw seeing some of the smaller Central Banks<\/a> because currencies have been destroyed start to actually think about what their reserve posset saw to be more significant in this upcoming monetary renegotiation and if i were a small central bank id be looking at the only a some match very bad that you can. Makes in the current market which is actually Holding Bitcoin<\/a> on your bond and she. We can see Something Like<\/a> you could see the you dont you know for example you know 1. 00 trillion dollars on the treasury whole why. We could ask nisi influence when these currency was new us to sites were actually just the leads those treasury means they could do you make good just. Needs a centralized database that the Federal Reserve<\/a> or the governments going to need to switch. And so now what china has long will this trench and bury on their gold reserves to get a significance in nice monitor negotiation so i think hes had written so many times that it would seriously going to see these currency wars snoring i did predict zimmerman guys with balls or unknowns are yes jeff record has spent writing about this and talking about this for a number of years they went to great accuracy say and of course he was a big believer in the s. T. R. I think your case about this digital cryptocurrency makes a lot of sense obviously a country like the United Kingdom<\/a> they sold half their gold bullion a number of years ago and they will be woefully inadequate way represented at the table you know gordon brown most of the gold reserves how the bank of england sold them off so its 300. 00. You know the u. S. Made the right means they come to skate said the gold from all the people that so its a 5. 00 an hour gold supply at 2000. 00 and beyond so its all coming back historically to the to this conversation has been going on for hundreds of years about a 1000 years now the 2 principal antagonist in astronomy would definitely be us in china the us has all the debt china all the debt owed to it year in year thinking the in the one of the ways that the u. S. Can fight in this global currency war is to simply delete that. Debt and it goes away from that Balance Sheet<\/a> it sounds. Quite. Route it sounds radical but in that in these days of digital warfare maybe not so much simon. This is currency wars you know you can imagine a few sonorities well you know the us its the next election hes been saying this is the trying to buy rights he could actually say how much hes actually youre right you know all these that sends our economic blogs as trying to cause the United States<\/a> they might want to take it to say that they owe us more trillion dollars pipes or you dollars in compensation im decile were just going to delete these 1. 5 so you can. You know these are the types of snorri sydney can see. Needs to be currency will you mentioned jim record sorry also said that the u. S. Could separately keep the gold that they store for other countries anyway rad time simon dixon thanks so much for being on the kaiser report yes thanks for having me all right and thats going to do it for this edition of the kaiser of car with me max kaiser and stacey however i want to thank our guest simon dixon it out his book 10 years ago banks of the future was the 1st published book ever to mention back line thats right and so next time buy off. Well the pandemic no certainly no border is applied to nationalities. As americans we dont cover territory we dont have the facts in the whole world needs to be ready to. Judge. 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