Kevin, i will be here with a looks renews in just under an hours time. This is our teacher national. Stay with us. The Max Kaiser. This is the kaiser report. The word of the day is magnitudes. Lets find out whats happening, stacy. Yes, we need to take a step back and look at the magnitudes. This is coming up in a tweet im going to read. But i also want to remind you that this is the week that set in motion the end of bretton woods right. August 15th, which was a sunday, 971. 00. President nixon went on to live television in America Sunday Evening and announce they were basically closing the Gold Window temporarily. They said, and then on monday, the 16th it came into effect. But on August 15th he announced that. And now here we are 50 years later, similar situation Sunday Night as August 15th, the 16th is that monday. Who knows what might be in store for us. Maybe theyre going to close. You know, lets call it the Camp David Window, right. Like because we have bretton woods up until 971
The Max Kaiser. This is the kaiser report. The word of the day is magnitudes. Lets find out whats happening, stacy. Yes, we need to take a step back and look at the magnitudes. This is coming up in a tweet im going to read. But i also want to remind you that this is the week that set in motion the end of bretton woods right. August 15th, which was a sunday, 971. 00. President nixon went on to live television in America Sunday Evening and announce they were basically closing the Gold Window temporarily. They said, and then on monday, the 16th it came into effect. But on August 15th, he announced that and now here we are 50 years later, similar situation, Sunday Night as August 15th, the 16th is that monday. Who knows what might be in store for us. Maybe theyre going to close. You know, i, lets call it the Camp David Window, right. Like, because we have bretton woods up until 971. Then since then we had Camp David essentially nixon close the Gold Window. They had organized that from Camp
The 16th is that monday. Who knows what might be in store for us . Maybe theyre going to close. You know, i, lets call it the Camp David Window, right. Like because we have bretton woods up until 971. Then since then we had Camp David essentially nixon close the gold window. They had organized that from Camp David. So im going to call it the Camp David Window that is being close to the Petro Dollar Window being closed because i replaced the dollar in the seventys. Exactly. Some, its, somethings happening. We dont know. Were going to continue covering this in the next week or 2, but here is a tweet from lucas new t. C. Take a step back and look at the magnitude. Bitcoin settled, the equivalent of 2. 00 trillion dollars and the 1st half of 2021. That is 10 percent of the u. S. G D P. Right . While were adding toward a global Bitcoin Standard and fat monies are going to disappear completely, not just because of inflation, but because people are using bitcoin as a unit of account, as well
Percent of the u. S. G d, p. Gray, while were heading toward a global Bitcoin Standard and fat monies are going to disappear completely, not just because of inflation, but because people are using big coin as a unit of account, as well as a medium of exchange, as well as they store a value in these volumes and big coin suggested thats exactly whats happening with el salvador, making it legal, tender nigeria becoming hype. Big quain, those, the zation, the sized and the, the numbers speak for themselves of the magnitude. This quantity of these humongous numbers is not to be denied. Its like, theres a huge media are coming to Planet Earth called big coin, and the astronomers look through their telescope and they say it looks frick and bake. And people are saying that now i cant be that big can it . And i like now its really big and its getting it take going to hit and once it hits, if youre not prepared, it will be too late. But the whole time that weve been doing kaiser for its been all
A new bretton woods. Right, well heres some news out this past week. And lin, all the reported it, they, i am f approved around of new S D Rs, valued at 650000000000. 00 us to be credited to the reserves of member nations. She follows that up with this more than triples. The S T R Market Cap outstanding, and is another small step towards a more diversified or a multi currency global reserve system. Ok, this is the long simmering conversation on this show going back years going back through and jim records, famous author, writer of many fine books had talked on this very show about the I M F and the S T R, the special Drawing Right as being the currency that will ultimately absorb all of the bad debts on all the balance sheets of all the sun banks in this huge roll up. I mean, a 100 trillion Dollar Credit Facility thatll be funded by the S D R. The special drawing, right, which is the currency of the I M App would provide a huge bell out to the Central Banks to provide a huge bell out t