tv Keiser Report RT December 28, 2021 5:30pm-6:01pm EST
traveling around the world during this pandemic having a great life. but one thing, and perhaps during all your travels, you've noticed this because in 2021 looking back in the year, that was the h word got mentioned 1st by the life of michael burry. but you know, that stayed in the whole financial sector, but then towards the end of the year, in october we saw a, c, e o jack dorsey mention the 8 toward which is even worse than the c word. and that is hyper inflation. this triggered quite a few economists, a triggered the treasury secretary, herself janet yellen, who said inflation was under control. so what do you feel about this word? hyperinflation now becoming mainstream? do you think hyperinflation is going to happen soon? it usually happens suddenly, right? so is 2022, possibly a year that that could happen. it's like you're walking up a staircase slowly, slowly, slowly, and then you get pushed down the elevator shaft. the result is catastrophic and it
happens within minutes. so it's a similar type of situation. and as far as jack dorsey, i've, i've been suspended from twitter, but it's probably the only thing that i would ever agree with jack dorothy on, is that we have hyper and inflation. and you know, if we have a chart of the nasdaq, if you pull it up, you can see the hyper and plate inflation in the way that assets selected. asset prices have absolutely exploded, which is made the currencies worth last year buying less than the currencies and everybody out there knows that there's hyper inflation across from spectrum. i mean, you know, look at oil prices, for example, another chart. you can see that it's well in the triple digits, it is absolutely screaming, and the talking heads have been wrong. the central banks have been wrong for several decades. janet yellen said we'll never see a crisis in our lifetime. another 12017. she. she's also come out and said,
i'm going to have escape velocity. we're going to raise interest rates. but you know, you can never taper upon the scheme and they never did all this q we infinity temporary emergency madge measures that started 13 years ago. and they're continuing right on to today. we're the 5th is buying $120000000000.00 worth the paper every, you know, a continuously. so they're filling the, the backs coppers with money. we're seeing that the outcome in the stock market. the stock markets are searching and the reason why they're searching is not because of productivity. we've got a chart, goldman sachs stock, which illustrates what's been going on the stock market to buy back fever because the banks can borrow money and all the corporations borrow money at near 0. there's a true over to going to be over a trillion dollars and buyback this year, and probably more buybacks next year. but the debt is not a bad when it's used for productive reasons. but when banks go out and instead of
bolstering their balance sheet, speculate by buying their shares back to pay to c o sweets we have a problem. stock buybacks are not a really good way to reward shareholders, or to build a value in the company. you need to take money and invest it in creating good paying jobs. not speculating on financial assets. so the seo is, can get rich cannibalized future earnings. so yes, there is definitely hyperinflation. we've seen it in the oil prices that have been going up for over a year and a half and nothing is going, you know, it's nothing is transitory inflation is not transitory. it's a lie. people have to get used to understanding what there's no such thing. it's fake news, but we have it's an outright program of media dishonesty. it's totally dishonest. and, and basically what you need to do is be able to figure out on your own,
what's going on, people, you know, the truth is upside down. we can't trust science. we can't trust medicine, we can't trust what the central banks are telling us are all tissues or governments, their purpose or purposefully crafted dishonest narratives is political activists rather than telling people the way it is and i think people are reaching an inflection point here. things could get really diced at this point. right? well miss, even as recent as 6 months ago, janet gallon echo the comments that fed chairman made now for 15 years 20 years. that they have to keep interest rates low because they're fighting deflation. this is the, the actual term they were using up until 6 months ago that they were fighting deflation. and therefore they had to keep interest rates low. and of course, we've talked about this many times and we've been saying that there's actually stoking inflation and shows up in the asset prices. and it doesn't show up in the c p i because those numbers are fraud. as you point out,
everything is upside down. and including how they report the c p i the consumer price index. well, now we've got above trend inflation. we've got the actual reported inflation above 5 percent. so the answer to this of course, is to raise interest rates. but of this is not being discussed. i mean, this is what they were waiting for to raise interest rates. they were waiting for inflation. well, now they've got it and, and a seems like this. the answer to inflation is the same as the fact deflation to print more money match it's, it's like if you ever watched the old peanuts cartoons by charles schultz where you have lucy at the football down for charlie brown and say ticket ticket ticket. and then they pull it away. it's the same thing with you can never taper a ponzi scheme. just make little balls upon the sky. when they say they're going to taper, they can't taper, because the mouth and magnets hope, scale, and magnitude of the debt they would make in solvent, they wouldn't be able to service the interest on the debt. now,
the bigger problem that we have is that you have ernest crazy bernie crazy, bernie sanders, the head of the senate finance committee. you know, just moral hazard means nothing to him. and stephanie, kelton is one of his advisors who created magic money mat, modern monetary theory, just print print until it explodes. and that's exactly what they're doing. you know, you saw last year or this year in the middle, the year were early said that 6 and a half trillion additional stimulus is, is the minimum that we should put out there. if you think about what's happened, i mean go back to go back to 1998. we had the 1st, the 1st bailout, and 1st case of moral hazard was when long term capital management got billed, billed out. and that was $1000000000.00. and everybody thought that was the end of the world that was in what 98 or 99. and then of course, after that we had,
we had the dot com in 2000 to 2001. and if you see what, what happened with that, i mean, that went from 5132, all the way down to around 1200. and you know, it was up the staircase and down the elevator shaft and then then they build out that would be creating housing bubble. it took 15 years for the nasdaq to retake that $5132.00 level again. and then, you know, going back to the hyperinflation, it went from 521-5000 higher than you know, higher and higher than 15000 in a matter of 2 years. so think about that, that's, that's exponential. and this isn't because people are going out and spending are earnings and they're making product of goods, just financial ization and this is inflation. this is us dollar to basement. so, you know, the dollar is going to collapse us dollar gemini is,
is going to be finished within the next few years. i mean, a perfect example of this insanity is hurts the hertz corporation went bankrupt in 202021. and when they were bankrupt, the momos on robin hood pushed the stock of a bank or company, which means is equity is worth 0 up to over $60.00 a share. and then i said, oh, let's issue some more worthless shares. and a judge said, oh, you can't do that. so that was an example of how insane the pricing is. now, after a couple months in bankruptcy, hurts came out and said, ok, well now we're going to buy $100000.00 tesla's. so they're going to spend $4000000000.00 on one 100000 test was maybe a little over $4000000000.00. and when that announcement came out, you must p r team had the price of a test for the market cap went up several 100000000. so how was that proportional? i mean, we just have stuff trading in the stratosphere. that's absolute lunacy. so this is
definitely going to end badly. it's worse than 1929999. combined. valuations have never been stretched in the history of the planet. no, it's not different. this time, it's not different next time. it's never different. and this is going to end exceptionally badly for the people who are a lot of these trillion dollars on the companies. so speaking of the pricing, those i mean before, even the see where it happened. and the pandemic in lockdown followed, and the stimulus checks and the trillions of dollars printed. we already saw, we saw negative interest rates. that's not supposed to happen, had never happened to thousands of years of human history. then we had negative oil prices, trade for a brief period right before the pandemic head. then now during the pandemic, we've had trillions of dollars given to people who don't have to work. that has perhaps happened for some aristocratic classes like pre revolutionary france or maybe ancient greece. right?
for they collapsed where people of the empire didn't have to work at all, but they've been consuming massive amounts and we've seen that like, extraordinary price action as well. with container ships, we saw, well use car prices go above new car prices. you 2 years later, your car is worth more than you bought for it. so these are just like extraordinary sorted numbers, but we're heading into a mid term election in 2022 in the last minute. in this 1st half here. what do you have to say about how are they going to be able to print more money? do you expect more stimulus? is it going to be possible to pass? will it pass? of course, the more they don't have any, any other choice they box themselves in, they might raise rates, but then they're going to realize it's a policy mistake and you know, it, all packed is going to break loose and it's going to be, you know, the end or the end of their tightened. i've never been tight and you asked english . but all the people who are trainings markets are a large portion of our jar young. and they've never seen what's called the bear
market. and they believe that the central banks role responsibility is to bail out their bad position. and that's not the central banks job, but the central banks. now believe that that's their job. they balance for billionaires and everybody else at the cost of the middle class to the cost of everybody else. and this is why we have record wealth in quality that's getting worse and worse and worse until you have the fabric of society being torn apart. and this is tribal, isn't that we're seeing right now that they're trying to make it worse. we're trying to get people to heighten each other while the greatest economic plunder in history. wow, this is exciting. going to take a break when we come back much more with miss fire sign, other plan of policy. don't go away. mm. ah.
who dares sinks? we dare to ask oh, you can have a test bed for medical and then later recreational marijuana and it started with some things. so innocent, i was wanting to socialize, everybody does it? so i cannot. and then it just keeps going and going and going. i'm just gonna do it was yeah. and then it's, oh, i'm just going to try this was never do it again because a one wife, 11 and i have you right on inside of jack. and you surround yourself with people who are encouraging you to do it not to stop or it felt like my life was over,
jumped officers off the balcony and died. she knew he just couldn't stop. the me welcome back to the kaiser report on that casual stacey over a special guest fireside for this year. end blow out special. hey, manage let's talk about 2022. it's coming up pretty quick here. what are your thoughts? what are we going to see? what are the major trends? you know, i think we're going to see more more buyouts more stock bios. it should be illegal . i wrote an article about american airlines in their equity buybacks in 2021. and you saw that what happened was, i've never seen this in my career, whereas the ceo of american airlines went out and he spent about
$15000000000.00 on share buyback. and he paid himself, he was paid entirely in equity. and i've never seen that happen. so if the stock price went up, he got paid, he banked over a $100000000.00, and then he had to, since the balance sheet was so weak, when the c word happened in march and they didn't build the balance, she said they were speculating on share buyback they had to go hand to the government and get what a $20000000000.00 bail out from the government and had to sac most of the employees . so he and he stole the senior. so there's no penalty for taking massive amounts of risk. this is a problem and now they're allowing the back banks to do buybacks. again, it started in, they had a bumper buyback year or 2021 because the fence that you could buy a limited amount. yeah, well i don't know what limited means, but bank of america was in there buying at least $25000000000.00 worth of their own
shares. so the prices of all of these financial companies are hitting record new hires because they're borrowing money near 0 or 0 from the fed. buying shares backs and taking massive bonuses, because obviously when your share multiple goes down, you get to pay yourself. so why would that, why would that stopped as long as the money keeps coming from the fed, and this insanity goes on, but i'm telling you, music will stop, it has to stop. and when it does, it's going to be mighty ugly. in the meantime, the party is rocking. it's been rocking since 2008, 2009 and the financial crisis. 2021. we saw you've on mosque start the year worth about 80000000000. he ended the year worth about 300000000000. we saw a lot of those billionaires, jeff bezos raised in tons and tons of billions on the asset price, increase them in stock. you know, stock ownership of amazon, for example. so, you know, since 2008 during and q we and the intervention on the markets. we saw since found
the 1st trillion dollar company. that now we have many trillion dollar companies is 2020 to possibly the year that we see the 1st individual trillion error happen like we might have as many as they venezuela, as in bob weight, by the end of the year. well, yeah, i think what will happen very quickly, i think you'll have is a currency collapse in a currency crisis. so, i mean, even though it's really, you know, these companies are value, you know, several trillion like apple was approaching 3 trillion dollars. is any company worth that? no, it's not in any history. we've seen it happen. vendor quickly does fall. and you know, this is our markets work. i mean, this is just all on the basis of irrational money printing and people need to realize the central banks are responsible and caused the problem. the problem is, is the politicians are the same, the republican party, same as democratic party, and all they seek to do is cause tribalism. and so seeds of discord between different people. so we're fighting all economic funders. yeah. a st. some
experimentation going on, of course, buying back your own stock used to be illegal. then under reagan, it became legal and it's been totally abused. as you point out, we saw negative interest rates on the sovereign debt, which is almost non existent and financial history. now we've got a new experiment on the horizon. this is a new for me, and i'm a kind of store of all of these types of fen dang. you know, financial was bank products. they're gonna try to tax unrealized gains match. what do you make of this? that's insanity. i mean, you know, it's just another gimmick, so that it looks like they're doing something, but you know, i'll tell you what it appears to be. you know, you seem like the weapon ization of government agency, the westernization of the weapon is ation of the i r s. where they threatened in 2021 to look at $600.00 per person, which is ridiculous. did i have to hire 5000000 people or more to look at the 600
dollar cash transaction over the period of your bank account? you know, the food and drug administration, the cdc, all of these agencies have been recognized. and what they're being used for is to, to go after political enemies, to disagree with the popular narrative of the established regime in power right now . and this is a really dangerous time in history. because if you disagree with the narrative, you get sent certain shut off, like i cut off on twitter and it's a bad time when stuff like this happens, bad things happen, max. and when you have extreme valuations, bad things happen. and that's why, you know, i think that the population in general is lost trust in the median should because you know, it's outright dishonesty. it's not fatal. it's, we've had dishonest price signals, they've squashed all of those. and now it makes sense that they would, after the price signals have been tamed and destroyed and silenced that they would start to silence the people. but there are still, you know,
some price signals that they can't hide, like the value of your cash. right. and you see that in that increased was going up an asset prices obviously you see you 4 people love it. just like early days of weimar germany, people love their asset prices going up a year. you spent a lot of your time in the u. k. you think the british pound this year could break the buck? it started the 2008 financial crisis at over $2.00 to $1.00 pound. now it's down closer to a dollar. it's heading down where couldn't break the buck this year. i've been following sterling for my entire career, which has been multiple decades as, as i'm sure you guys know. so look, if you look at the chart of sterling, you can see that sterling, the real collapse and sterling was when the bank of england under mervin came to say to print an enormous amounts of money. and sterling dropped 34 percent on the left hand side of that chart cuz you can see. and then, you know,
it dropped all the way down to to 138 i think was the low. and then it, it bounced around until they hired mark hardy, you know, him climate change mark carnie now mark carnie, they ex goldman ex bank of canada. the housing bubble mark carney, housing bubble, and canada housing bubble in the u. k. he said, we're going to have escape velocity in the u. k. and then sterling reacted that was 201314. you can see on that chart went up to $170.00 because he said he was going to raise rate. but of course, like any of the central bankers, it was a total lie because you can never taper upon the scheme. so that if you saw when he didn't, he had to cut, they actually cut rates. and then sterling dropped back down to probably around $11.00 for the, for $140.00 range and then you had break it and it was still around the $130.00 and change range. so breaks it really didn't impact sterling. i know that everybody
likes to blame and they like to blame briggs. it's but you've had sterling hovering around $138.00 area since the 2000 and a credit crisis. so there's always a crisis that they try to blame stuff, bragged it, credit rate, financial crisis next will be the climate crisis. or next prices will be a cyber attack russian cyber attack but, but, but, but, but, but isn't going to break the back. that's all we want to know. we don't need. yes. yes. yes. because what, what they're doing, what they're going to do is blame the collapse in sterling on another crisis. but it's not, it's because they're printing. like now they printed because of the c word in march of 2020, as driven everything much lower in the government and printing more money. so when you print more money, it's currency basement. so sterling is way over value right now, and it's going to continue. i think it will go to parity with us dollar, and i think the us dollar will get slammed even further as well. i'm not very
bullish on any currency at all. so this is the good part of this conversation that i think there are other asset classes that are grossly undervalued and remain gross, the undervalued, and i think people need to explore what those are and how to express those in good trades, where they can actually make money rather than lose money on buying something at the peak of a bubble when it's the biggest hysteria in our media and it, when you invest in a bank, you get till you get slaughtered. what goals make money, bears make money, and pigs get slaughtered. and that's adage, you have to live by and you know, you look to find asset classes that are fairly priced under priced, otherwise you don't play right. and all this money printing, of course, has started a huge run in the commodity markets. as you mentioned, oil is moving up quite aggressively. we say moves and copper, we see moves and aluminum. we see moves and agriculture. we see moves and
everything bitcoin making new all time highs. everything is making a move match except the one inflation indicator that people have used for thousands of years. and that is gold. is the world just conspiring to make peter shift look bad? i don't know. i, you know, look i, i started buying gold back in 2 when it was 300 now and i'm never going to stall that position out. but i think everybody needs to have metals. i think they'll have their day. they're going to have their day when, when collapses, you know, will they tried? it seized the metals like they did in 1900 thirty's, maybe. but you know, that's going to be a very hard ass. but i think we're in a very precarious bunch of levels and silver. i mean, you know, you were very bullish and still years ago, i remember i'm, i've been bullish on solar from 14 dollars. i think there are a lot of commodities out there that are under under price and under valued and as you get inflation, every single commodity is going to take off because it's not a matter of you know, when you, when you can buy any asset near production value,
you have to buy it, you know, it doesn't matter if you think the price can, if they can manipulate the price, but you almost had exchange failures in certain products. you actually had delivery problems which it was several commodities. and i think you'll see that again, you'll have delivery problems with commodities in a couple of these atf blow up. and people will understand that unless you have physical assets to back something by is meaningless. and you know, the real game changer that i think we could see within the next couple years or not, we could, we will see you next couple of years is maybe china or russia or a combination of these countries coming out with a currency that's backed by tangible assets like exchangeable for oil units of gold, copper, silver. i don't know maybe some crypto currency, but you'll actually be able to exchange it because current use back by nothing. i mean, what does it back by a promise to repay the debt of the sovereign?
that's issuing it and when people realize sovereigns are more than over extended and can't repay their dad, they're going to say, well, i'm not going to buy that. where am i going to put my money so that i don't, it doesn't erode, like in why my republic, your bubble and quickly for the last minute here before we head into the new year. we've mentioned michael barry, my sorry, was short and bitcoin, he was shorting tesla. he always to got wacked on those. he's also shorter us treasury's. what do you see for 2022? is there any relief toward this poor guy's positions? yeah, the treasury trade, i mean treasury's, whenever they go higher in terms of yield, i mean they're going to be a bar because it's the fed wife to come in and do to really infinity to bring the yields down because you'll reach a point where they can't service their debt, and then they were either default or worse. so yes, treasuries are probably by sounds like he's gonna, he's hanging on to that widow maker. my yeah. i was like another carried out on
a stretcher mob for that guy. yeah. one trick pony. that's it, then be went down the drain i was going to do for this. this guy's a report. max kaiser, stacy herbert mitch fireside the mod squat. it's like done by all, ah, ah, ah. and i dream shaped by thinkers and those with who dares sinks. we dare to ask in
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with a 4 year old is called in pepper spray. as police break up, an anti back to march in germany. countries across europe are facing unrest that of new year over rigid restriction. some parents in the u. k, accused hospitals of discriminating against children with down syndrome in a bid to free beds. during the pandemic, we hear from a mother who was asked to find a do not read a tape order for her son. when she said, why? well jack, it's my son's life that you're asking with fish or no, i mean he has down syndrome, but that's got nothing to do with whether shipping the stuff the sites or not. and the latest poll shows that most of your democrat now don't want joe biden to run in 2024.