I think that is a good question because you know, more and more billionaires around the world are getting into big queen and massive sort of Asset Management. Companies like black rock are getting into big so max keiser this week, you tweeted a serious bequests. Shortage is developing a supply on exchange, dries up prices will start gapping higher looking for sellers. What do you mean by this . Max guys are but a member of the peak oil or peak gold arguments that were running out of oil or are running out of gold. That of course, is not true, but in the case of bitcoin because it is absolutely scarce and because the demand is approaching infinity, we are potentially hitting peak bitcoin, where it will become increasingly impossible for the average mom and pop to acquire bitcoin. Because all the 900. 00 coins per day that are generated through mining will be sucked up by the institutions and will never hit the market. And of course, what does hit the market every single day is new, fresh printed dollars, new fresh printed euros. I believe it was Christine Legarde over there at the e. C. B. In the past week. She said they will never run out of your us that they could print. So theyre printing printing printing. And in the meantime, we have these major billionaire investors. Weve covered almost all of them entering the big, quaint space, calmly fomalhaut alang as we call it. So theyre removing their big question from the exchanges. Unlike in 2017, when it was a bunch of Retail Investors around the world who panic bought and panic sold, you know, these guys are, you know, steady calm, just gobbling out all the big kind they can get and removing it to their hard wallets, their own. Under their own control, right . Still waters run deep. And what were seeing on the exchanges, all the major exchanges is that their inventory of coin that they keep on hand to make markets is disappearing. Theyre running out of coins and very few coins are coming into the market and just the 4 biggest institutional buyers, including cash and Digital Currency group and a couple of others. Their daily demand is almost 3000. 00 coins. They only have 3900. 00 per day are being created. Theres outstripping demand to supply already 3 to one. Thats going to go 2121211021, then it doesnt really make any difference because you just wont be able to get many years and years ago. Here on kais report, we reported that big question would displace gold that is turning out to be true. You see it in the numbers, you see people selling gold e. T. F. , and you see them buy coin, e. T. F. H. E. B. T. C. And now the biggest fund manager in the world, which is black rock, theyve managed 7 trillion dollars, black rock c i os, says big queen will take the place of gold to a large extent. Because Network Effect has forced traditional financiers to change their tune on the Digital Currency. And this is black rocks, c i o, o of fixed income. He told c. N. N. B. B. C. Last friday. His name is rick reader, he said, big queen is here to stay while conceding, that he is not a big bowl reader, said the flagship currency will quote, take the place of gold to a large extent because it is so more functional than passing a bar of gold around, but this is a remarkable statement because weve heard the argument that big calling his goal to point out that its a prayer to gold. But that has come from the internet from social media, from heterodox thinkers like ourselves. Its not come from a 7 trillion dollar managed fund like blackrock and were hearing it from other folks like Paul Tudor Jones stands out to melbourne. Although theres 100. 00 trillion dollars out there looking for a home as part of a managed money environment. They are 7 percent of that 100 trillion dollars of only one or 2 or 3 percent of that money goes into bitcoin. That means the price triples overnight. So im going to ask you a question because i want to try to elicit an answer that you gave to me on the magical crypto in france, v, our special this weekend about black rock. I asked you about the fact that black rock is the Number One Company to reference your patent on virtual specialist technology. So what do you think about how that applies to virtual currencies, digital currencies, crypto currencies, big queen in particular, and perfects prices. Right . While blackrock is believed the biggest purveyor of the e. T. F. Market, the Exchange Traded funds, and those are derivatives and they are, theres more e. T. F. Than there are stocks. There is a few 1000 stocks and there are many more actual e. T. F. That are packaged to reflect the underlying number. That is the price, but its not actually ownership. And so thats a derivative based on a virtual securities. So my patent of the virtual specialist is how do you make markets a virtual markets using virtual securities in a virtual currency. So thats why they would reference that and they probably have come out their own intellectual property to move in that direction. And in the case of pick when, of course, its the private owners that make a difference. And this is why well never have the problem. We have in gold with gold, its driven by derivatives traders, and its highly centralized. And so the gold prices are very slow and lethargic, because wayne is decentralized and its impossible to control from a centralised player. A matter of fact, it is always spinning out toward decentralization. So it has 2 properties that gold wishes it did have, but it doesnt have and then add on top of that, the absolute scarcity which gold doesnt have that either. Plus the utility value. Ok, yes, i can store my value in it and i can use it for payments. Thats true. Yeah, thats all up. And you can understand why Paul Tudor Jones, stan druckenmiller, bill miller over over there in his major fund group. He has his own fund, but he used to be at legg mason was a massive, massive invest at Asset Management company as well. So, you know, miller was early in pic line years, have johnson. Abby johnson from fidelity said these are major institutions with trillions of dollars under management even beyond anything that Paul Tudor Jones or stan talk in miller, the hedge fund guys. Manage these are big, big Portfolio Managers in the space now. Right. I mean, this is like when gorillas make, you know, it makes a complete, makes quite a ruckus. Well, i had not heard about this group situation, but it is interesting, nevertheless, to look at the, the giants of black rock now entering the space. And the fact that were at all time highs again where we were in 2017 on the retail investor. And now were getting to the institutional investor, the guys with not 10000. 00 to their name, but tens of billions of dollars to their name and trillions of dollars to their name. So you know, thats something to look forward to as we go into the end of the year and 2021 we did mention and recent episode that citibank itself is now saying that they believe that queen will go to 318000. 00 by next year. And a lot of people say, oh, thats ridiculous because who has 318000. 00 while these guys have 318000. 00, they have several trillion dollars 318000 dollars. Its like a lunch tab for them. Right. Member of the coin is the black hole of money and it sucks. Everything in all 3. 00 out money will be sucked in by bitcoin. Gold pricing will be sucked in by bitcoin. All stores of value will be eclipsed by bitcoin. Everything in the planet, earth will be priced in decline as we head into hyper because it is ation. The mona lisa will be priced in bitcoin faberge, eggs will be bought and sold in bitcoin and it will be the most sought after commodity in the multiverse. And those 2 without any will be feeling like there are good. I was in the midst of this in the midst. In the midst mists. Yeah. The mist or the gorillas hang out in the mist, they mate, or like the elephants mating. You know, the earth moves when im trying to say the earth moves when the thundering herd of black rock and the citibank, and bank of america, called tudor jones delany, awilda beasts of the moat, the money moral fidelity, and the buffalo. They go on a rampage in the earth moves, and this is whats happening down big coin. The biggest Money Managers in the world are thundering yes, across the open plains, toward a price point called 3000028 1000000. And everyone in the path is trying to grab as many so toasties as they possibly can to take advantage of this once. And im in a millennial multiverse, old phenomenon. Thats a good way to look at it, the running of will the beast. Thats like one of the safari journeys that one takes. If youre going to go to africa, to look at a mate, you know, the 5 big game or the will the Peace Process out of, you know, shots from helicopters that are all the documentary and for b. B. C. Makes you see the running of the will to be so theyre like, as many will to be says, there is millions to codas, you know, texas size herd of, well, the beast, just wondering, cross their wide open plains toward their destiny. And thats why i always get really nervous watching them well, you know, they always out on the b. B. C. Documentaries. They put a camera right next to all the crocodiles waiting for the one that is a little bit slower than the all theyre the rest of the herd to be eaten. So there is like some people get wrecked and the exchanges. Some of these will, the beast of finance will get wrecked, like the guy who runs a soft bank, one of the biggest, most successful funds in the world. Remember they lost, a lot on air b. N. Not air b. And b. , but we work and they made a lot up on up sides. But they got out of bitcoin and the guy said, because he couldnt stand looking at big claim prices anymore. His position, he sold us down, he lost basically 130000000. 00 by selling too early, but he said he couldnt get over looking at the problem. Im familiar with the type. So this is a guy whos allergic to success rate. So he could take the easy trade and bought bitcoin and made billions of dollars. But instead, as we know from the fine journalism from the Financial Press of the wall street journal in the Financial Times and other outlets, he has been bullying him. And his purchase of nasdaq listed stocks in an attempt to artificially boost their price beyond what you would normally expect. And they supply and demand environment and using options as well to enhance those bullied returns. This is, this is like poetry yet. This is like a poetry works. This is it. And as a result, he is digging a bigger and bigger hole because the soros is law of reflexivity, where you can create your own outcome by simply buying lots of stuff. In a concentrated way only works to the extent that there is finally a bigger sucker who is going to buy all that from you at the end for you can make an exit, but what hes finding is that hes bought so much of this. Nasdaq stuff that he cant exit and he could have bought up big point, you know, who is exiting the u. S. Treasury i. E. The taxpayer because theyve been, you know, this reflexivity is in this final headline here. Here are the 12 Financial Market metrics, new 10, listed as reasons for letting the feds bondholder bail out. S. P. V. Expiring december 31st. So i remember early in this pandemic and lockdown story that we had the fed do all sorts of quite to the easing, but that the treasury and the government issued all sorts of programs issuing tens of billions of dollars. Hundreds of billions of dollars across the u. S. Economy, or one of the things they did is they created s. P. V. Special purpose field goals. And they created like a dozen of them for the fed. So they gave them actual cash, real money from the Us Government for the fed to disperse, to various, you know, buy junk bonds and things like that. Well, announcing it did the work so well, they only ever dispensed like theres 455000000000. 00 and real equity, real treasury bonds, real u. S. Wealth that never got spent. So many new chinas asked for a back because the talking up, the job owning the markets, did the work. Everybody, trillions of dollars poured into the markets to front run the fed and their purchases via these s. P. B. s. But the fed never actually spent much of the money at all. So now the taxpayer is about to get that back. And there, i guess, mission and the trumpet ministration. Want to give this 455000000000 and a fiscal stimulus before they leave the white house, right . Half a trillion here, half a trillion there, you know, eventually it adds up to real money. Well, were going to take a break and when we come back much more coming your way the world is driven by dream shaped by one person thinks we dare to ask its been decades since the fall of spains fascist regime, but old wounds still havent to yield im going to go, i lower into the number thought it was 40 and it was me from yale. Do you are a good one, mr. Poe or me on the bus, at the system . You know what i notice . And i think ultimately, you know, thousands of newborn babies were torn from their mothers and given away and forced adoption. I dont know a lot about i was the 5th or my own role, but as a fellow mentor to this day, mothers still search for grown children while adults look in hope for their birth parents. Welcome back to the kaiser report. Im max keiser time now to go to march alone the o. G. A. Bit calling minor down there in texas. Marshall. Welcome back. Big max. Thanks for having me. Always a pleasure. All right, so we have some comments from the u. S. Comptroller of the currency. Had to get your feedback on this, he suggests that it is americas geo strategic interest to make sure american bitcoin miners control Bitcoin Mining rather than china, which he claims controls. 51 percent. Ok. 1st of all destroying a control. 51 percent flat out. No. That used to be the case, it feels like this guys living in 201415 against kind of weird seeing as how he used to work for coin base. Very interesting. Take that shifts verifiably false. So its verifiably false for a couple reasons. You know, and curiously, your comments are, number one, youve got a lot of pools in china, but the geographic location of those people all in those pools could be anywhere in the world, not necessarily china, south. Thats problem number one. Prob, problem number 2 is as meat discovered in 2017 during the block size, warse miners dont control because the notes control because so thats those are 2. Very simple things to rebut his argument. If i got it about right. Yeah, you know, its about right having for better or worse, started becoming classic with a few of the people i got 1st hand experience there. All it would take is for the nodes around the pools in china to simply just stop accepting released from them and their power, their blocks to propagate much slower and other pools would be able to win that race. So thats the 1st thing. 2nd thing, a lot of people are quoting a report online with this interactive map. The problem is its only pulling data from about 3 pools, and those 3 pools collectively only control about 2530 percent of network ash or 8. And of those, those all 3 were chinese pools. So the reality is thats extremely slanted information where most people are getting from i did some back of the on the low mass since being tagged on twitter and the report from what i can tell and what my colleagues can till ive kind of pulled together some information, just back of the overload numbers, were looking right around 65 to 70 percent of the hash rate being outside of china. And you can even see that with the big migration that happened a couple of difficulty adjustments ago as the network pass rate dropped by about 30 percent when the miners in china moved from from the north down to the south. So, i mean, all those numbers kind of make sense plus with a little bit inside info, its pretty easy to debunk that. Now the good news is that the u. S. Controller of the currency has woken up to the fact that big point is a geo strategic asset. That if a country doesnt have any in reserve, they are in trouble because theyre moving off a foreign c. Standard to a bitcoin standard globally. And some countries have jumped the gun iran as i think last i checked 4 percent of the hass rate. You know, he never mentioned that that seems like a pretty important number. China obviously does have a significant part not anywhere near a controlling interest. And some other countries also are in the game. The us is lagging now. Could you describe this as a sputnik like moment . Remember, the soviet Union Launched Sputnik and then america entered the space race. Is this kind of like a global hash race were seeing marshall. Its real easy to start getting spooked when 22 percent of the dollars that you created in existence came out this year. You know, we got drone power over here printing like a madman, and then people start to realize that its not working anymore. And then you also realize that youve got countries that you dont like i. E. Irans been a sweet getting into mining. And once you have virgin big, it really hard to track. Its not really much you can do about it when you talk about censoring transactions and all these things that you might be able to do you. If you have virgin corn based transactions, you cant really do anything with him because you dont know really know who has the coins. So the reality here is comp troll or currency or whatever his title is. She has a lot of experience in big going. So i think net net this is a good as we have a guy on the inside, but it seems like hes still peddling this anti china narrative which has been going on for ages. Its just getting a little bit old in my opinion, so well see more of all it all is motivates people, politicians, you know, if you throw out an existential threat. Remember, last year 2 years ago is russia, russia, russia, now its china, china, china, or iran, iran, iran, right. So they need to motivate people to act. They need an enemy because theyre simple minded and stupid, but nevertheless, because in a smart and i will usher in a new era of leaders that are enabled by bitcoin. Let me ask you this question that i threw out there on twitter quite liberally. And since youre actually a professional in the field, you would have a better answer from play and correct me if what ive been saying is wrong. But flood things. Got all these big guys comin in, blackrock, the said, oh, we love bitcoin stan druckenmiller. Paul tudor jones, michael saylor, you know, over their micro strategy, theyre buying more big coal and then miners are, you know, creating a sense they are as the protocol is admitting, prada, d