tv Keiser Report RT December 9, 2019 10:00pm-10:31pm EST
i. believe as of russia ukraine france and germany agreed to implement a cease fire for eastern ukraine by the end of the year and that's after 6 hours of negotiations in paris. for years off the world stage the international and he did think agency shut the door and he brushed up over wanted so it was moscow's time frame but the key thing takes place. and russia cries foul saying it provided all the answers necessary and claim has been ignored all the authorities plan to take the decision to sports highest court russian athletes claim the punishment is harsh and politicize. the headlines we'll be back again next hour with another round up and stay with us for the crimes of course next year on off the international.
i am max kaiser this is the kaiser report to globalization big dollars ation you know it's happening as the world is kind of drifting apart in a lot of different ways we look into it because there's an economic force behind it as always stays max sensa claus is coming soon so you know what that means it's a season of make believe that some fat guy is going to fly around the world on a with a reindeer is them put some presence down our chimneys and make believe is becoming very real i notice around the world. we have now in the past week or 2 you know down trump has said that argentina and brazil where we're going next week that they have their currency manipulators and so he slapped some tariffs on their
steel and aluminum or as the brits like to pretend it's pronounced alan many m they've some tariffs on that at a minimum that not english they can't talk good right so this tit for tat tariffs and it claims that there's a currency problem you know that their currency that they're driving their currency lower there is a dig dollars ation going on there's a currency crisis happening all over the world currencies are in massive flux massive volatility argentina and other countries are trying to grapple with the fact that the world is moving away from us dollar reserve reserve currency and the idea that the u.s. is going to tear of son only encourages more to it for tat trump also said he's looking for the federal reserve to take interest rates negative which is confiscation by any other means member back in the thirty's the u.s. confiscated gold trump is into confiscating people savings right out of their
account just taking it from their accounts using. negative rates well the notion that argentina one of the currency to collapse by over 50 percent when they just took out a $5060000000000.00 loan from the i m f in u.s. dollars not in their peso is absurd because that doubles the size of it in real terms for them and terms of how much they now have to pay back so he's just basically punishing somebody who's already in a precarious situation speaking of precarious situations a negative rates here is the headline where the real you know we've had make believe for so long and that it's becoming more and more real that we're all just going to get lumps of coal the dallas fed president believes ballooning debt could suddenly become a big issue for economy well that's true as anyone knows that we've been saying now for years that you can't cure debt with more debt they have some mainstream economists like paul krugman that says that that is completely meaningless but even
the interest on this meaningless debt is now bigger than the you know or is comparable to what money spent on defense so it's become a problem and a lot of the debt by the way in the united states right now is corporate debt they've incurred $3.00 trillion dollars in debt to buy back $3.00 trillion dollars with the shares so you're swapping the real assets of the company for the make believe which is debt reduced actual assets it's a make believe for equity swap yes right remember in raiders of the lost ark where he swapped a bag of sand for the golden nugget on the pedestal and then the big boulder came to chase and this is what's happening in the markets are replacing equity with a bag of sand or nothing and another big boulder of massive debts coming to chase them down the corridor and here's some more make believe we you and i saw this in belfast back in i think it was 2012 when the g 8 conference was there and member
their economy was wrecked and they had to put up fake store fronts well here. from the wall street journal some empty storefronts on 5th avenue are getting dressed up for the holidays a creative solution during a critical season for the retail industry you know retail space there are so overpriced that even giant corporations are unwilling to pay it and so the stubborn standoff between these lease holders and the retail outlets they're all empty so in order to create the illusion and continue having tourists come into 5th avenue they're just going to be met with fakes to her friends nothing they could actually buy so it's a potemkin village yes remember we saw this in belfast during the troubles the legacy of the troubles as some storefronts are left as a potemkin village they are look like something is going on but they're actually empty as a way to negotiate what's the ancient rivalries up there in belfast northern ireland so here is another make believe to eat their earning list bull market the s. and p. $500.00 p. e.
ratio in white versus earnings per share green as you see the earnings per share are tumbling where as the p. e. ratio is soaring stocks are soaring earnings are flat or in fact declining well earnings are shrinking because of big lobel zation the valorization all the easy money is off the table with peak oil which means all the easy cheap oil is gone we've peaked everything everything that's been cheap is gone in our eyes in ourselves as a negative interest rates are all about self councils ation your eating your arm to stay alive eventually the doesn't work so speaking of the make believe there's nothing more make believe than feel its currency and of course what is real is gold and here is the headline u.k. can't be trusted with gold top slovak party leader says so they're going to repatriate their gold from the united kingdom and notice that word that it can't be
trusted and that's always associated with the lobel is a shin. an absence of trust between trading partners and a lot has to do with as we've talked about especially over the past year the u.s. dollar as a settlement layer magistracy have been covering this phenomenon for a while and i think gordon brown hit peak paper of the big paper mark at the peak male liberal moment the peak post world war 2 washington consensus moment was when gordon brown sold half of britain's gold at the rock bottom price of $250.00 an ounce sense the time gold has swung from being out of favor to being in favor to the point where last year central banks for the 1st time were net buyers of gold in a big way and now they're just ratcheting up either their gold purchases or gold repatriation i think at an alarming rate if you want to look at the progress or the product prognosis for free up money going forward it's not good if all these countries are scrambling like mad to get their gold back and to buy more gold of
course the unite bloomberg news has been reporting on the entirety of the eastern europe including hungary poland and they're saying that these governments are absurd for asking for their gold back these are populist movements and they should stop this but you know i think this is part of the trend that we've seen since 2016 especially really kick into gear is that this absence of trust in the status quo what we've had for the past 40 years since 1971 since neo liberalism was allowed to be unleashed since the baby boomers came on into the market as the number one voting bloc that's over there no longer the biggest voting bloc and all their ponzi schemes are falling apart and this slovakia's former premier said that parliament should force the central bank to bring back the nation's gold sword in the u.k. as history has shown that allies can hardly be trusted extremely or robert fico who
chairs the biggest political parties slovakia said his formation is seeking. to hold a special parliamentary session on the issue the gold is not safe in the u.k. because of the need something that's unmentionable due to laws in the u.k. and possible global economic crisis so in this situation he's saying and i think alan greenspan by the way would agree is that unless you have your gold in your possession you don't have the gold well let me sum up the global economy in just a few words number one banks all over the world have been making incredible amounts of junk loans to corporations to buy other corporations those banks when they have a lot of junk loans built up that are not repayable they sell them to the central banks for this ever mounting global pile of treasuries and money that's being created to buy back the junk bonds the junk debt from the banks who have been just giving it to their friends to buy out other corporations and
these massive mergers and acquisitions stock repurchase scams. and that has a finite end date so the it can't do this forever and we're approaching that moment now we're on the smart people in different countries now in eastern europe if the alarm bells are wrong and they're like you know what this is an unsustainable ponzi scheme between junk bond dealing banks on wall street and the central banks and they are only protection and this goes back thousands of years our only protection has always been owning and buying gold you want to call it a populist movement it doesn't matter what you call it it's going to be survival of the gold assist those with the most gold and make the laws and in the 21st century of course it'll be those with the most bitcoin will make the laws but that's going to take a few more years to develop read david greene has 5000 years of debt the fact is that whenever trust is absent gold rises and so you know you've seen not only china and russia accumulating gold but you see since the report went to frankfurt
and confronted the central bank the boom just bank about their gold reserves and they admitted to us that their gold reserves were actually held the new york they since have repatriated most of it and because of our arrival there and the them admitting to us that it was held in new york so germany was the big 1st creditor nation to get their gold back and then many other nations have followed including i think it was the netherlands poland hungary slovakia is asking for it and by the way this is like an ancient thing this is a weird quote from what this guy robert says is the issue here he says you can hardly trust even the closest allies after the munich agreement he told reporters referring to a 1938 pact by france the u.k. italy and germany which allowed adolf hitler to annex a part of czechoslovakia i guarantee that if something happens we won't see
a single gram of this gold let's do it as quickly as possible. there is of this gold is not in the country where should be is because of world war 2 because hitler was starting everyone in europe so everyone in europe put their gold elsewhere in the u.k. in the u.s. and now we're in a post kind of world war 2 scenario where people are saying wait a minute we don't trust the u.s. we don't trust the u.k. to hold our gold anymore we want that gold back in our own vaults in our own country and of course gold is a commodity that doesn't need a 3rd party in its value unto itself it does not like money that has no no no value without a government saying we'll go to war to defend it other than the house of value and of course because some lowly is is valuable based on itself itself itself validating which makes it even better than gold but now we're in this period of massive scrambling amongst countries to prepare for this money
collapse. as well and you see this again just like the 192930 s. it's relevant that he points out in 1038 packs because here we have the u.s. slapping sanctions and tariffs on everybody this is the same thing that happened after the great depression during the great depression everybody was beggaring the neighbor so if they're going to start beggaring the neighbor of this guy is right that he won't see a grand that the nation won't see a gram of gold back from the united kingdom they've already seized then as well as gold for example so you're not going to see slovakia's gold if you don't get it back jim rickards told us that here on the show that the u.s. will seize whatever goal they have in the event of a crisis. he has about 31.7 metric tons of gold worth 1300000000 euros in the bank of england and remember it was just in the last few weeks that poland got 8000 bars of gold back which is $100.00 tons and $8000000000.00 from $5000000000.00 from the bank of england in terms of their gold so well here's
a here's an interesting and fun factoid. there are approximately 7000000000 ounces of gold above ground that's all the gold that's ever been mine since the beginning of time and there are about 7000000000 people on earth so every person on planet earth man woman and child to get one ounce of gold and that would be a great way to redistribute wealth anyway we're going to take a break and when we come back much more golden stuff coming your way don't go away . what politicians do. put themselves on the line they get accepted or rejected. so when you want to be president. wanted. to go to press this is what. 3 of them will be good. i'm interested in the waters in the.
first ukraine leaders from russia ukraine germany and france meet in paris to tackle ukraine's internal divisions are there reasons for optimism and impeachment are the democrats secretly scheming to have trump actually really. welcome back to the kaiser report imax keyser time out of santa dominic frisby comedian choice over artist gold bug bit coin enthusiastic author of a new book daylight robbery how tax shaped our past and will change our future welcome back dominic thanks very much max how you doing oh awesome so everyone in america knows that the income tax was introduced after the introduction of the central bank are these 2 related if so can you explain a little bit yeah they are very much related to. the interest into income tax was
introduced to us in america 1913 america it's time rely almost entirely on carrots for its federal revenue and they want to define us replacing carrots says that of course a lot of tension between north and south because tension that resulted in mung of the things the american civil war and deficit he wanted to find another means to it's sort of strawman standing in the group of the income tax $913.00 it was introduced to quench how dramatically have cooled when american joined the 1st world who but even so most americans were paying ordinary americans weren't really paying income tax until the 2nd one who will 1942 and the revenue act of $942.00 grew income tax to every man and it was a famous song that was composed. and it was actually commission from i think brilliant who tracked hate my income tax today to make american celebrate the joeys
i think contacts in it contain the lariat i paid my income tax today a 1000 planes to lend that will be paid for and i chipped am i was ever there and clearly made a return tax and moves that particular song there fascinating stuff so that the name of the book is called daylight robbery how tax shaped our past it will. change our future so dominic france me as done a bit of a deep dive into tax innocent some fascinating interesting stories here and several can several candidates on the democratic nomination are proposing a wealth tax on billionaires the fact is however that is the thread that turns billions to they can tell in effect creating all these billionaires so should they target the fat instead should we get back this ill gotten wealth donek one of the biggest tax you suppose throughout history has being the stealth tax that is information that is the debasement of money and it's
a tax that united railed against. milton friedman cooled it taxation without legislation and yeah they'd be as well to sort out their current series they would to be taxing billionaires and do you know let me ask you a question you know where you get the expression daylight robbery from you know. we get it from we used to have a thing in the in the u.k. called window tax and in fact throughout europe where people were taxed on our window and this tax went on in the u.k. for 17180 years and wanted peace finally debated whether this tax was a good or bad thing in parliament they cried out daylight robbery daylight robbery and that's because in order to avoid paying tax many people locked up their windows and this was no small sacrifice to cool see no snakes there was no electricity not even gas and electric. lighting and we live with tallow candles and so the whole
last day lights and they lost the fresh air in many many incidences of d.c.s. in the industrial revolution much worse these cramped damp when dentist weddings and that's where the expression daylight robbery derives from right i think also in london architecturally speaking there is only have that basement and there's a bit of a railing between the edifice on the street as also tax related and it crave a very distinctive look but it shows that tax policy has it as many of facts that are on unplanned and in many times detrimental and talking about taxes the yellow of us movement in france is at its heart a tax through vaults on petrol many including david graber also suggest that a tax revolt against the can tell in a fact your thoughts on what's happening there without doubt it's a tax rebellion max every single rebellion results are rising revolution
into history has to be at its heart it's been a tax rebellion it's a rebellion against some kind of in a critical to taxation some kind of economic injustice created by the tax system most famously of course the american revolution no taxation without representation the french rebel. lucian a revolt against the decadence of the opera promises which were paid for by the peasants the russian revolution the english civil war most famously perhaps the most clearly was the not rush things and the most clearly the philippine revolution began with the cry of crude at man women who exhorted citizens to tear up their tax a typical it's been this thing you can go right back through history that you skate let's remember egypt they were trying to escape taxation and the ultimate form of taxation is a cruel slavery where you lose all on the ship of your labor and tax hasn't just
shakes the world in which taxes today don't just how money tend to consequence since throughout history they've had these are intended consequences to the point so wait you can actually argue that the entire history of the entire history of civilization has been shaped by taxation as i said every revolution every wall responded by taxes but they're all sorts of bizarre. relation for example mary and joseph were only in bethlehem to pay taxes when jesus was poor man who gets to say so not levied those taxes mary and joseph would never be in that christianity would never have been home in the way that it did it's had these incredible effects on history the very 1st tax since were levied in ancient mesopotamia taxation is as old as civilization itself the very 1st rate records we have ox records. and because tax records tend to be the best preserved records of home for obis
reasons and historian so often when they're trying to learn about a society they go to tax records and the way to tax on history has been incredible amounts why i wrote this book i'm trying to encourage people to look. through this prism of taxation when you need to spend much becomes clear why i things are as they are why things. if hold in the way that i did but also how things are going to be in the future the name of the book is daylight robbery and dominic frisby is the author and as we've discussed many times sometimes you look at an economic aspect to history and you find it's very elucidating in this case in tax policy now dominick you believe that the solution dollars daylight robbery is actually nevertheless a tax a land tax a tax on land not labor why is there less robbery why is it better what does a look like tell us about the 1st and foremost max i'm a big believer in taxes at the moment roughly 50 percent of everything you are
if you're living in that you have over the course of your life will be taken from you in taxes we think we tend to think of as a house is the most expensive purchase will ever make by far and away more expensive as you know from an extraordinary you know obviously in a straight society you are 100 percent nice. by somebody else and if you are going to a totalitarian society pretty much 100 percent of your late burn your produce you know profit is i mean the other extreme you look at some of the most liberated societies in history i'm a ready ever taxed 10 or 15 percent and this is a number back to the ancient traditions of the colony and especially. because we have 10 fingers on our hand it's an easy it's an easy number to calculate but yes so i'm a big believer in taxes but i'm also really we should defend well today says
sort of 50 percent somewhere in between those 2 extremes if you know you mentioned greece taxes were all of tree near matching but tree taxation and then of course north korea everything you own everything you own and we sit in the middle so i'm a big believer that we should be back towards the 50 percent mark somewhere around there the more liberates in a more inventive the ruin of much of societies and history rule is no taxable i say she. but in addition i would tax. next 50 percent of government revenue derives from income taxes of some current or other and as a result the work is unfairly penalize now if you start out in line with nothing but one thing you have if you work but we catch the work constant and heavily on the other hand we don't tax lax we hardly tax the land so so i would replace income
tax or last portion of income taxes with a tax on the rent to find you of land in it's an improved state if you can prove land built a house on it or a factory what you've built on the land should be used to create. some improved state you know if you're driving if you're making a fortune from that the only reason it's going up is because of the needs of the community and not because of anything that you put in and so the idea is to stop some of that share now home problem was economically speaking was one of the most success. countries and the 2nd half of the 20th century went from shanty town shortly after world war 2 to futuristic city state in barely 2 generation now home program taxes a percentage of g.d.p. never exceeded 14 percent income taxes were only levy against the very rich and instead they have only percent of government revenue came from land taxes so the
most who is proven a mom who works in the left wing politicians in america maybe there's a switch from raising income tax on billionaires to introducing élan tax and that would pretty much do the same thing dominick well the left wing politicians any problem exists believe in much levels of greater government spending than i do and they want much more government intervention in the economy and i don't buy that i believe that individuals making their own choices make much better decisions than governments and bureaucrats but nevertheless. the young human the left wing arguments in the case for land tax and that's an argument i buy but i would tax and it's heavy as they propose to i don't tax making 10 percent of its annual rent something right now you know you're also looking at the global markets and forex market on the dollar your thoughts on mark carney statement recently that the world needs an alternative to the u.s. dollar as a unit of account here mark carney your central bank over there at the bank of
england saving lee breaking ranks with others and calling out the dollar can you give us some insight on that we've got about 20 seconds i day trust not tony and he any deficits what's required to the senate any given moment and so i mean yes the will is probably going to get an alternative to the dollar eventually and in the long because it's the way independent money he got not of all monetary since well you heard it from none other than dominic frisby the name of the book is daylight robbery how tax shaped our past and will change our future thanks for being on the kaiser report thanks very much max a pleasure talking to you oh great yeah i can find it on amazon by the way it makes a great christmas gift you know if you'd like to get in touch with us tweet us a kaiser report until next time by you know.
when i was told some seemed wrong on one old rule just don't call. me the world is yet to shape our disdain you can stick out to it and indeed from an equals betrayal. when so many find themselves worlds apart we choose to look for common ground the. and there is only johnson. i just got out of prison for. 41 yes. 73 and so. i got arrested some my.
try to use the time to try to get. snow to something that did. greetings and sally you taishan in what's being called this generation's pentagon papers the washington post released on monday but the outlet is calling the afghanistan papers a secret history of the war in their article the post's craig whitlock writes that a trove of confidential government documents obtained by the newspaper through the freedom of information act after a 3 year long legal battle reveal that senior u.s. officials failed to tell the truth about the war in afghanistan throughout the 18 year campaign making rosy pronouncements they knew to be false and hiding unlistenable evidence the war.