hi this is mike maloney and i'm joined by jeff clark once again we got a lot to discuss today jeff how are you doing i'm doing great mike it's good to be back with you of course yeah we got lots in the plate here uh article of the day tweet of the day chart of the day some wonderful viewer feedback and also a great quote of the day from will rogers that mike is going to read to us so let's jump right in this first article is our news of the day item and it's posted on zero hedge but it was written


by a banker from uh robobank uh which sounds like rob a bank i i i've always thought of it that way but anyway he's pointing out here that when it comes to the inflation measures of the cpi the consumer price index mike he's claiming that it's actually more politically motivated than it is economic motivated and the example he uses here is with real estate he is he actually refers to several examples but one is real estate real estate prices in the us are up 11 percent year over year in australia they're up


an incredible 30 year over year and none of that is included in the cp what do we call it mike the cp lie i came up with that for my book the cp lie because um it is i mean they don't track the same exact uh set of uh goods and services that they've been tracking since the 50s and they've so they've done replacement then they do hedonic adjustment we've covered all that before but what i'm amazed you know they're talking about australia and australia has gone nuts uh i did a


piece uh hopefully we can stick the link in the notes below the video here on the australian real estate bubble i had written about it to put it in an upcoming book and uh but things were changing and it's changing so fast i decided to cut that chapter it was uh too long anyway that piece and so i made a video of it and it just shows you the craziness of the economics behind what they're trying to do in australia with real estate now recently about i don't know a month or two ago dan our producer


sent me an article where the australian government is now offering a fifty thousand 000 uh you know grant to any foreigner that'll come in and buy residential real estate and what amazing so this is mostly like the chinese the chinese have been investing in australian real estate very heavily and so they're trying to attract more of them they want these chinese buyers because chinese have china is having a boom now uh we're we've had this contraction because of we closed down our economies china


reopened their economy right away and they're having an economic boom australia is trying to attract capital and they're successful at it by uh giving fifty thousand dollars to any uh foreigner that'll come in and buy a house well the australian population isn't asking themselves you mean i have to pay taxes so that they can give it to some foreign buyer who's going to bid a house up away from like for instance if you've got children don't they need a place to live don't


they need a starter house they're never going to be able to they're going to have to rent because of these crazy policies driving real estate up uh 30 percent uh in year over year this is like uh crazy absolutely crazy um and so uh the it's worth uh watching the uh youtube uh video that we did that i did about us the australian real estate bubble because when this thing implodes and it's going to implode this this will be when the implosion comes it'll start in one country but it's going to be a chain


reaction around the world and what they're doing is they're just going to push this thing to the limits yeah we don't see inflation in certain areas but we do see inflation of other in other areas i call it in deflation i do think that uh there's going to come a day where the market that all of these bubbles in the almost everything bubble some people call it the everything bubble gold and silver are not in a bubble uh so it's the almost everything bubble when all of those other items in the


almost everything bubble start to deflate that's the deflation that i've been talking about for a long time it's probably going to be global you know there will be a contagion that sweeps around the globe uh and you know this is episode uh seven of hidden secrets of money uh the governments around the world will overreact and they'll print us probably into oblivion i don't know what's your take on this jeff well the cpi uh for march just came out today ironically this morning


and it is all the way up to 2.6 uh the highest in at least two or three years i believe they said so that was a big jump it was higher than expected so even the u.s government is acknowledging with their hedonic adjustments and all that that they do then inflation is higher so to those that claim that we're still in deflation they're ignoring the fact that the cpi does not accurately measure it and yet even it is rising at this point in time so uh so yeah that's it yeah you know our producer uh director dan uh


you know he's from australia he's from tasmania and he was just saying how nuts everything he's been watching real estate over there in his hometown and uh he just said it's absolutely insane uh and weren't you telling us about somebody that was uh putting in bids over market over the asking price yeah that's right it was actually my brother i'll leave anonymous where he was looking but it was in a popular area he needed to buy a home he was moving to be near some family


he put in a bid over the asking price and his bid was not accepted he was outbid by numerous other buyers um so the you know and again the whole point of this is that none of this is included in the cpi so right that's kind of insane that's the thing you know i when i was writing my book it got cut from the book but when i was writing it i came up i started looking at all of the different measures of inflation because there is a bunch of them a whole slew of different measures of inflation that uh the bureau of labor


statistics uh keeps track of and uh they they just seemed crazy to me uh and my uh thesis was that every dollar created must go somewhere and so i came up with something called cup inflation c-u-p-p currency units per person because you can inflate the savings you know you can inflate personal savings you can inflate the stock markets you can inflate real estate but they don't they don't measure those so they're not getting a true picture of inflation and the problem is you know if you've


got an economy that's in balance and you warp the economy by uh pumping a bunch of currency into one sector of it eventually the free market wants to balance the economy again and when it snaps back it's going to be very very painful yes it sounds like some economists in the government might need to read your book [Laughter] and and by the way you can still get mike's book for free the links below and he talks about the cp lie in that book there's a section on it so you can read it


in his book so well anyway mike onto a tweet of the day this is from a twitter handler called documenting bitcoin this came out yesterday he says at 64 000 bitcoin hit that price yesterday bitcoin becomes the sixth largest currency in the world and overtakes the british pound sterling in size in terms of monetary base uh and that includes gold so only gold and five other currencies or that before other currencies uh have a higher monetary base than bitcoin mike what do you make of that yeah well it's interesting the uh chart


that was supplied with it uh i guess uh you said that this chart is a couple of months old uh but it shows that if it did take over the british pound that it would actually be the fifth uh not the sixth largest currency the sixth if you add gold into the equation i think it's amazing i think it's stunning i think this will continue i think it will uh definitely you know it's it's going to um bitcoin is on a run and the uh the world's central banks that feel so threatened by bitcoin and the imf and everything


they waited a little bit too long now that you've got big brokerage houses and retail i mean when you have corporations and brokerage houses and these giant entities uh plowing uh hundreds of millions and billions of dollars into this asset the only way that they could try to if if they wanted to try and make it illegal in the united states the fed would have to print the currency to replace it and buy it from you can't the you can't just i mean it's it wouldn't work in the united states


to just like steal the bitcoin from them uh so you've got these major institutions going into it so at this point hopefully it can't be stopped uh it is a very wasteful uh cryptocurrency when it comes to energy usage and the electronic waste that it creates uh so um uh you know the the interesting thing is that as bitcoin rises uh it tends to drag all of the other cryptos with it and then there comes a time where all of the other cryptocurrencies a lot of them start out performing bitcoin uh


that usually happens toward the uh end except i've seen lately uh several of the cryptocurrencies vastly outperforming bitcoin so it's uh it's it's interesting you know i've been in it since 2014 and i kept on buying it all the way down to 250 and i kept on uh i didn't say to buy it i told them i was buying because i was buying every single week and uh buying bitcoin at 250 uh and telling people what i was doing uh people were saying i'm crazy i'm trying to steer people into a losing


asset and it's it's a bunch of hocus pocus and voodoo well they're not laughing anymore it's all right yeah right or they turned around and they're on the bandwagon yeah there you go yeah well if you're liking this video hit that like button for us there down below and so be sure to subscribe to the channel so you get all our videos so well mike on to chart of the day this is from octavio and this is speaking of australia this is australia's monetary base and you can


see it's just went literally not just through the roof but to the moon almost mike look at the monetary base how it's grown and what i'd like to point out here mike is look back at 2008 during the great financial crisis look what they did in 2008 that was a big jump back then and yet it pales in comparison to the monetary base that australian government is doing now well in 2008 there was a a blip there and then uh in uh 2013 there's a big leap uh but then uh with coinciding with the pandemic you


know it was it looks like it was at about uh 115 to 120 uh 120 billion uh and now it's up at 265 so it's they've more than doubled the base currency supply uh since the pandemic uh began and uh you know we're ti this is not a huge country the population i believe australia is about the size of california uh maybe a little bit smaller when it comes to the population size i haven't uh looked at the statistics in in a decade but that's what it was like a decade ago and uh uh no wonder real estate is up


30 year-over-year i mean when you pull uh interest rates down artificially what happens real estate goes up because that's one of the things that's most affected by interest rates and then when you create a bunch of currency and you do things like hand out fifty thousand dollars at a time to any foreigner that'll come over and buy a house of course it goes up and what's happening is all those foreigners that now own the houses get to rent to the kids of the the that have been you know the


population of australia all their kids are now priced out of the housing market they can't possibly by you know there's there's a few of them but the vast majority of them can no longer uh afford to buy a starter home so they've been priced out of the market to all of the foreigners that now own these houses and get to rent to them so their rent is going to china i just can't believe that people don't see this uh please watch our the episode on uh the australian real estate bubble


and then add all of this insanity to the stuff that they've already done and then try and figure out for yourselves uh what is what the results are going to be what kind of crash is going to happen because this is going to be a disaster i'm sorry i'm laughing but it is and i really feel sorry for the people that it's going to hurt yeah it is the everything bubble except gold and silver you're exactly right about that well mike on to some reader feedback this is really good i think you'll like


this this is from chi lao if i'm saying it right my friend and three co-workers are buying silver this weekend and i'll be joining them as well his mom and his aunt also want to buy silver now a few years back this would not have happened this year is different what do you think about that mike yes it is and this difference is something that's increasing and i have often said uh and dave morgan you know my friend dave morgan says uh that it will be monetary demand that drives silver to the moon


not uh investors jumping in and out on it but when people are worried about the dollar and uh they're looking at silver as money and so uh for me one of the things that i've always wanted and you know i've got some i've been riding some cryptos up they've i hit some targets i've i'm sitting on an excess pile of cash right now and i'm about to uh purchase add to my position on silver the gold silver ratio is is uh back up in an area where i'll probably buy all silver or mostly silver


and i just want to be ahead of the it isn't just a crowd this is a head of the stampede because it will be a stampede uh to borrow a line from i believe jim paplava from years ago it's going to be like trying to put niagara falls through a garden hose uh there's going to be a stampede and silver is such a tiny part it is yes i remember doug casey used to say that a lot too i don't know who came up with it at first but that's exactly what it's going to be like it's going to


be a a panic into precious metals and 50 silver would just be a pit stop on the way to higher prices in that environment so well uh mike uh uh on to our meme of the day and this is one i think you you like so why don't you read this to us yeah uh first there's a lot of people in the uh you know people my age know who will rogers is but he actually preceded my generation uh he is one of the most popular uh comedians from the uh 20s 30s and 40s i believe uh and he was a political satirist uh


most of his his comedy and he was brilliant and he was funny as can be and he says i don't make jokes i just watch the government and report the facts [Laughter] so we want to thank you for watching we'll see you later jeff see you mike i'll see you on the next video bye