Topic: Lvmh

The conversation returns to the billionaire conference in Sun Valley, Idaho, hosted by Paul Allen's estate. Keiser describes how the world's richest men, such as the owner of LVMH, are given "negative cost of funds" by central banks to acquire major brands like Tiffany's. He characterizes this as a global kleptocracy where elites carve up the world's assets.

Max Keiser explains "interest rate apartheid," where elites like the owner of LVMH borrow at 0% to acquire companies like Tiffany, while the working class pays high interest on credit cards. He argues that central banks are gifting assets to the world's richest men for free, causing inflation that hurts average consumers.