Max Keiser - New York University
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Broadcast & Founder, Keiser Report
An interview with Max Keiser, Broadcaster & Founder, Keiser Report
Our exclusive interview on The Bitcoin Mogul with Max Keiser, renowned American broadcaster, filmmaker, journalist, venture capitalist, successful Wall Street veteran and presenter of the Keiser Report and the Orange Pill Podcast, examines the impact of Central bank policy, debt monetisation, asset bubbles, the wider adoption of cryptocurrencies, as well as central bank digital currencies throughout the world economy in the wake of a global monetary crisis precipitated by inflation. Executive Global
sit down to discuss fintech and global macroeconomic risk with one of Wall Street’s most brilliant minds.
Max Keiser CV
New York University
1982 Started career on Wall Street.
1989 Top options producer, Shearson Lehman Hutton.
1995 Sold a treatment for a feature film to Miramax, starring Alec Baldwin.
1996 Created the Hollywood Stock Exchange (HSX).
2001 Sold HSX to Cantor Fitzgerald.
2003 Met Stacy Herbert, started doing
what later became known as ‘podcasting’.
2005 Began making films and TV programs for many outlets such as BBC, Al-Jazeera, and RT.
2011 Started buying Bitcoin at $1.
2013 Created Bitcoin VC fund:
The Bitcoin Mogul
EG: Gold, silver and Bitcoin today, stocks bonds and real estate tomorrow’. With your expert insight into current asset class valuations, could this statement reflect a wise approach to asset allocation in 2020?
Max Keiser: Paul Tudor Jones, Stan Druckenmiler, and other incredibly successful fund managers are piling into Bitcoin now that it has proven itself as superior to Gold, but with 30-50x the price appreciation potential. PTJ calls it the ‘fastest horse in the race.’
In terms of asset allocation for 2020 and beyond, even if you allocate 5% into Bitcoin, that allocation will eclipse everything in your portfolio within 3 -5 years. In other words, if you put $1 million (5% of your portfolio) into bitcoin now, within 3-5 years it’ll be worth $30-$50M.
EG: With the U.S. repo market set ablaze at the end of 2019, followed by the impeccably timed pandemic in the aftermath, we witnessed the most extraordinary printing of currency in history. What are the most effective ways for investors to protect themselves now?
MK: I think it’s very generous, rhetorically speaking, to refer to what central banks are doing as money printing. That sounds like there’s some kind of policy or logic behind it. Truth is, the dam has broken, and the world is being flooded with toxic, worthless fiat on a biblical scale, and like in the Bible, Bitcoin is the ark that will save a few people from drowning.
EG: With the Banking For All act legislated through Congressional Bill S.3571 mandating ‘digital dollars’ and ‘digital dollar wallets’, slated for implementation no later than January 1st 2021, what impact may the digitisation of the USD have on the American economy? Moreover, how damning an indictment and tacit admission of foolhardy debt monetisation and central bank policy, is this legislation?
MK: Central banks will start sending their digital Fed Coins directly to citizens, bypassing Wall St. and the commercial banking sector. They are getting ready to throw the bankers under the bus. Deposits will be replaced with these new Fed Coins and these new coins will have an expiration date. Either you spend them or they expire worthless. Additionally, these Fed Coins will take censorship and surveillance to China-like extremes. It’s a model I call the Casino-Gulag. People will be stuck in their cubicles clicking on ads in exchange for Fed Coins that might afford them a few protein pills to keep from starving another day.
If you complain, you get cut off from the grid and left to die in the gutter. America already does this with its draconian health care system that creates hundreds of thousands of health care bankruptcies a year to feed the kleptocrats and opioid, Oxycontin pushers who run the system. American politicians think of themselves as disciples of Dr Kevorkian and their primary job is to euthanise us in as dignified, and profitable way possible.
EG: If the ripple effect on U.S. Treasuries and total specie in circulation of the Fed’s balance sheet growth as it heads to $10 trillion in assets is ultimately negative, wouldn’t an asset backed physical dollar be critical to maintaining normalcy
and purchasing power, instead of just digitising it all?
MK: The only non corrupted, non correlated asset left is Bitcoin and Bitcoin was born to take down nation states and central banks (this exact message was hard-coded into the Bitcoin protocol that was released on Jan. 3, 2009 in response to the 2008 financial crisis) Expect some fireworks because governments can’t coerce, steal, or confiscate your unconfiscatable Bitcoin. It’ll be tense for sure, but we’re witnessing the death of nation states thanks to perfect money: Bitcoin.
State-issued Vs Decentralised Currencies
EG: And what impact will the ‘Mexican Standoff’ between decentralised Cryptocurrencies and state-issued Central Bank Digital Currencies, have upon markets, institutional and retail investors?
MK: Nation states will eventually give up their impossible quest to tame Bitcoin and they’ll start buying and mining it in what I call the Global Hash War. We’re having a Sputnik-like moment where the US and other countries are waking up to the fact that they need to catch up with China, Iran and other countries who are already hoarding Bitcoin as a way to deal with the collapsing USD and the need to escape sanctions and interruptions to global payment rails like SWIFT for dubious political reasons.
EG: We often hear ‘there is not enough gold!’ but couldn’t the price of gold just be dramatically revalued upwards to say, $5,000,000 per OZ, to permanently resolve the problem of rampant debt monetisation?
MK: Sure, and it will, but Bitcoin is going to $500,000 to catch up to Gold’s market capitalisation, so I’d rather own Bitcoin.
EG: If we have gold, silver, cash and Bitcoin in the Blue Corner, and Central Bank Digital Currencies, Negative Interest Rates and MMT in the Red corner, can the two ever co-exist peacefully? What happens to cash if CBDCs win this fight?
MK: No, there is no peaceful co-existence between Bitcoin and everything else for the simple reason that Bitcoin has an insatiable demand for energy. It already runs at 120 quintillion calculations per second, and that number is rising exponentially. As the market moves into Bitcoin and Bitcoin’s energy needs keep to expanding, there simply won’t be any energy available to run any competing system. It’s ironic, because it’s Bitcoin that will euthanise the nation state and fiat money by cutting off its energy supply.
EG: The Bank of England and U.S. Federal Reserve this year stated they would allow unlimited QE, in what some may deem financial seppuku, creating risk on a magnitude not seen since Weimar Germany. Explain the consequences of such policies?
MK: They have no choice, as Bernie Madoff said when he got arrested, ”There is no innocent explanation” referring to his Ponzi scheme. And this applies to the central banks’ Ponzi schemes. It’s a dead certainty that the only path for them is to keep doubling down on financial fraud.
EG: With rampant debt monetisation, the economic outlook seems bleak on this trajectory. If you could advise the President of the United States on markets and the economy, what would your advice be and why?
MK: The office of the President of the US has been irreparably damaged by the previous few administrations and its importance is fading fast, except for use as a prop for movies and TV shows. Eric Holder, Obama’s Attorney General, for example, suggested that prosecution of financial crimes in America will jeopardise national security. I would posit the opposite, that failure to prosecute these heinous acts is tantamount to acts of financial terrorism on the part of the Attorney General.
EG: As founder of the Hollywood Stock Exchange which you later sold to Cantor Fitzgerald, you’re always on the cutting edge of innovation. What other exciting projects in this space peak your interest?
MK: My venture fund Heisenberg Capital has made recent investments in CASA, SwanBitcoin.com and Infinite Fleet. CASA is the best Bitcoin vaulting service in the business. SwanBitcoin.com/Max is the best on-ramp for anyone looking to get into Bitcoin and Infinite Fleet is a multiplayer online game
built using Bitcoin, founded by an absolute Bitcoin rock star, Samson Mow.
EG: You have been proven to be correct with your predictions for a very long time now! With both fundamental and technical analysis, what ceiling price do you realistically see Bitcoin reaching before finally levelling off to a more stable level?
MK: Bitcoin has no top because fiat money has no bottom. Whatever your imagination thinks might be the ultimate top for Bitcoin, quadruple it and you’ll be getting closer to where we’re going. EG
Whatever is the thing you most dread doing today, start with that.
Avoid energy draining people, groups and places and try to stick with energy boosting people, groups and places.
I find NYC to be incredibly energy-boosting and London to be energy-draining.
I find Hamptons dwelling Cantillonaires to be energy-draining, but the Orange Pill Podcast telegram group to be energy-boosting.
Cut losses quick, let winners ride.
» Invented virtual currencies, virtual markets, virtual market-making and prediction markets.
» Keiser Report, broadcast in 100 countries, in English and Spanish. Since covering Bitcoin at $1, created over 100,000 Bitcoin millionaires.
» Keiser Report en espanol now regularly gets between 1-2 million views on YouTube.
» We helped raise and are investors in many Bitcoin OG startups including
Kraken, Bitso, Shapeshift,
BitPay and more.
» Keiser Report has aired over 1,600 episodes over 11 years and was
the first to cover Bitcoin.
Max Keiser is an internationally renowned American broadcaster, venture capitalist, Wall Street veteran and filmmaker. With the help of Keiser’s co-host and wife Stacy Herbert, and guests from around the world, Keiser Report tells you what is really going on in the global economy, in his groundbreaking financial program broadcast on RT that features heterodox economics theories. He is the Founder and Inventor of the Hollywood Stock Exchange which he later sold to Cantor Fitzgerald. For more information please visit: https://www.rt.com/shows/keiser-report/