one have a seat in the united nations, which they don't. and this is a gentleman that thinks it's just fine to pump it $2000000000.00 of warheads on to an island that belongs to china, which is absolutely reckless. you know, i want to go back and talk about the joint communicate that was established in uh, january 1st of 1979 where it clearly stated america would not try to arm this island at all. it also says that, you know, in the community, in 1979 that both wish to reduce the danger of international military conflict. it's going against everything that the united states had negotiated back then. uh, does this up the anti? yes, this is american play book of you know, bomb bully or bank rep nations. this is what they're used to. this is the playbooks they've had a failed. uh, you know, excess. i see it in uh, in the ukraine and their proxy word that they're fighting there has failed

dramatically. so they're moving onto the next show in the next show is the taiwan strait. and that's all we've had time to squeeze in this hour. we will have more around 13 minutes, but doesn't go anywhere because next step here and all the fee is going underground with action returns the, [000:00:00;00] the i'm action or $10.00, say welcome back to going underground broadcast to go around the world from the u.

a. one of the 1st major nation acts against the greatest. joining us about times julie and assange was not to assassinate him, but to use paypal on the internet to prevent people power organizing to donate funds to we can't leaks before the british, tortured him. control of money is a determinant feature of imperial to germany. and now from palestine to venezuela, to iran, korea, russia, and china, native nations use money sanctions to impose your political will. but with the growth of so called cash list society crypto and fintech, is it the end of new york on edge monic power money? it's k y, c and swift banking systems that can easily be bypassed. and what about how this is happening? well, actually in nato countries, fintech and it's b r is used to impose to tell it to be in control of populations. red scott is the old of cloud money, cash cards, crypto and the wall for our wallets. and the heritage guide to global finance hacking the future of money. you joins be laughable in germany. thank you so much. read for coming on before we start talking about the money gold. your, your view on crypto given that need to use is very diverse. it's being variable

a trial. and it's meant in the past year or so, nato nations don't seem to be able to sanction those they wish to sanction to sanction labor because crypto big going bypasses washington. so yeah, being kept a printer, has it kind of be used as a sort of um i guess it kind of like a side so typically the monitoring system. i think when i'm, when i'm thinking about bitcoin and stuff like that, it's a, a c, it as a kind of system of digital collectibles, it could be moved around the show if you're in a place that springs to banks and you can use those digital collectibles. to bypass the banking sector and so on. and but they're highly volatile, right? so that's, it's the, it's, it's not an ideal um alternative to the existing monetary system. but they do form a kind of a parcel council to the existing monitoring system. just not a very good one. and of course national security agencies could be causing the

volatility is um, people suspect, but interesting. the you said the in nature of countries, i suppose these what you meant crypto is malign in the way that it teaches children of bad things about what money is. yeah, well i mean, there mind is, there's kind of like a reality to effect condos. i'm in a fantasy, right? so the reality is quite simple. the reality of the client is actually what they're as us describing those digital collectibles that have limited edition the digital objects that could be moved around grads. and that's fine. um they have prices, they get price on the market, right. the fence to see is that there a competing monetary system to the us dollar. okay. um and so, and in order for the promotes is of those objects to convince people that these are

a alternative to be used. all of the after results are a lot of conservative minus the ideology, dr. step to present these things as being digital gold and always going to stop and that often those results and then drawing on lots of tribes, civil stare, etc, essentially, right? the idea that money should be a constrained thing, right? it shouldn't be like a commodity. and that's pretty much what markets tax are and people like that used to use windows saying we can't afford to lose money is a constrained commodity. so we got the cuts privatize everything, and stop spending on health care and stop spending an education. right, because we can't find the money. right. so this whole idea that money is a constrained commodity is very classic part of austerity thinking. and if you're thinking about how you train the teenage, i just think like that's the kinds of very good way to do that. but, i mean, then the great thing about that is that a single tennessee doesn't actually challenge the existing monetary system, right?

so uh, you want to think about it as being like a kind of and it rides on top of the existing monetary system rather than bypassing it. okay, so the net effect actually all promotes in the ideology is that the conservatives of the normal monitor uses the cf money system. get more powerful because their message is being promoted via that by. i don't know if that makes more sense now than that. and of course, your background is not to apologise and a financial broker who nearly ended up in leaving brothers just ahead of the crash, clearly evident there and what you're saying that. and i think you've written about gold this missed of uh how gold is taught in schools within the media. how john list to use it as the hey day of money when it wasn't the neo liberal

model of money. you, you smash went to pieces a well look, i'm not like a academic co star and that specializes in talking about every, at every era of the monetary system, right. there's a lot of new on some stuff that has been out as to what the about the thing. but the most important to realize that the, in the modern imagination writes a lot of conservatives will stick sites upon an imagined history of gold rush. and the political use of that is to create the idea that what money should be as good as i mentioned is that's, that's the right idea. that it should be a constrained commodity that's in the hands of credit. so essentially, right. mr. students diluted the power. right, so the whole kind of story about gold being the positive money has a very strong conservative lineage. in reality, there are elements of gold use in a positive cost. you would have certain types of gold systems,

but they never operated in the way that's a lot of conservative economists would, would claim that they operate to the inverse. for example, a lot of nation states would actually define the value of go there wasn't sort of sell for parents to everybody and store them all, most every day congress wasn't done was go scratch was done with credit systems. so the main points to take away is that the kind of the imagination of gold as the sort of, uh, almost like platonic ideal of money is very problematic grads. and this is, this is not to say that it wasn't to start to use for certain things, but so now that different to forge to, into bank blending rates in london, the controls of coal, black. yeah. does it mean serious political, political control of the goals system in the past? it was never was imagines that a few a commodity money like people want to once imagine and very much in that fits when . well, they're drawing on that imagined history of gold to say in the past, money was to a, then it became corrupted. now we've made it sure. again in this digital form, it's

a very kind of puritanical way of thinking about money. and as also it has started to enact your it, well, let's just get through a definition and then of money i should just say personally, you know, when i was 1st at the bbc in london, i go to loads of trouble. i was the only person one night shift went bearings, banks went bust in the city of london, and i chose casino b roll pictures to illustrate voiceovers. and right from the top of the bbc they said, never use roulette tables ever a game. when talking about the finance you, however, use the analogy when defining money, what is money? the method level. um, if you're looking for the most kind of generic description, i would tend to say the money is a system of network access tightens um that enable us to access a network of human labor grads. um that's

a very broad way of speaking about it. um, and if you think about it, a lot of traditional ways of describing money, people imagine that there are some like value stored in money dealt with. but as being a store, all that value as if somehow the objects carries something a bit like, you know, blog or something. right? and the reality is that old value in an economic system is stored in human beings and natural systems, right? that's way everything comes from the monetary system is embed it into that a bit like a nervous system, perhaps if you want to use a biological medical. but the units of money essentially are costing claims upon our labor, right? so when you folding money, you're holding claims upon other people. this is what i'm saying is like a network access to it. and it's an access token and able to access people. that is a very generic description that does a lot of a lot more technical detail about how many pieces and so actually constructed or ad . so the re, the construction of industries systems takes multiple different forms right now.

the way that the money system is constructed is as an layers are at higher rock layers using credit instruments in the core of that as a central bank, but the commercial banking sector right now. issues, lots of the, of the money that we use as well. i can go into the different layers if you'd like it to, but the network asset access code is token has similarities to casino chips. i know that in nato countries, the atm machines seem to be being reduced in lots of, in the city areas of just explain how the atm it works within the analogy of a caching in the chips. yeah. so what, but basically when you look at the construction of the model, monetary system, um, it has about at least 3 layers, right? so the base le, let's do a kind of a single base money. and i just collect le one money. it is from central banks,

right? and those are pushed out and also stop the backend. right? so you push them out when states are spending and sucked back in, when there's taxation occurring right in the public. that's the cash just right. so the, any form of you want to put a la one money that we can access those states money is cash, right? then the 2nd layer built on top of that, which is the bank expect, uh, right in the mid the mid of, for you want to think about you understand that as i use a casino, as a medical is to help people to cross that. so if you walk into a casino and you take cash and you handed over to the casino tasha, they're gonna push out tips to you, right? and those tips are secondary form of money, privately issued or at that it's connected back to the cache and you at the end of the not because you can go back and reclaim the cache and walk out. so in the banking sector, how does medical works? do you want to think about it?

when you handing of the cash to a bank, they're not storing the cash to you, they taking earnest a bud. i'm from you. and then they push out digital casino tips to you. so those units that you see in your bank account, or if you're looking on your online account and you'll find those units or digital casino, substitute up on the banking sector and what's called the cash list. society is when you basically become totally dependent upon those digital casino chips, right? and when you're closing down a gm's right, and these countries and a lot of goods in europe, for example, such as you can have all that kind of branches and the atm, they'll be sucked down as a bit like something down. the ability to exits the system to cache out of a system, right? so it's like going back to the end of a, not the casino and saying, hey, i wanna convert my chips back to cash. and then saying, sorry we, we don't do that anymore. you're not kept it in our system, right? you cannot exit our system. one of the main problems of that medical, the of, of the casino is that to the,

to the new onto the bid is that in the normal casino. so every unit of cash is connected to a to ship, but it's not at all. uh, banking stacked to the banking sector has the ability to issue spa more digital casino chips and they're having cash reserves. and that's what sometimes called fax or is the banking, is that what's the very for you the money at basel these, these strange records in, in switzerland with an organized how much the ratios are. yeah, exactly. that's basically just explaining that. yeah, those are the different races, the technical ratios and banking are basically about how you manage that, that the risk that emerges from that process, right? so the banking sector is pushing out huge amounts. so the digital casino chips and routes on their harvesting load and assets, right? so they're not pushing them out for nothing that they so that they push them out a different circumstance as a result of utah. now put a band, can you say get some cash, some deposit to you,

they taking that for you and giving you tips because it could also be a person who's borrowing money. you tell the bank and say that borrow some money and they'll just push out new chips to read what that's what they're dragging back from you. and it's so it is a loan asset, right? so, and so what's happening is the banks will construct these um balance sheets with a, with a pushing out these, these disputes, digital chips which are actually a liability to them. they're extract in back assets and etc. and that puts them in certain types of risk. so those capital adequacy races and things and basel with their debate. so basically about how do you manage the risk of this process? but i thought i was more complex red scott, out, stop you. the more from the or through the crowd money. why the warren cash and dangers of freedom up to this break the they are probably her mother's us to store. okay. the model girl that i got you, no problem seem to them out of the know nothing 30 minutes us out in the drive. i

showed my brother through he was cited to help people for a lo so now i never look at searches as being the same. well, i guess on my list or if the outcome of chicago police, it'd be gang chicago is like, you'd be a photo of that police, you lose your life as another crime. say another this could have been a doctor. a nurse could have been the next president. ok, keep losing that. people out here, the acceptance that i'm here to plan with you, whatever you do, do not watch my new show. seriously. why? watch something that's so different. whitelisted ok means that you won't get anywhere else. welcome and please do have the state department to see i a weapons

makers, multi 1000000000 dollar corporations. choose your fax for you. go ahead, change and whatever you do. don't want my shell stay main street because i'm probably going to make you uncomfortable. my show is called stretching. but again, you probably don't wanna watch it because it might just change the way the plug it back to going on the ground. i'm still here with bread scolded with real kind of money. why the warren cash and dangers of freedom? bread we were talking about those ratios, which they don't really talk about in the financial press that much about the leverage levels that eventually get bailed out. actually, as they did after the 20 o agent, like maybe you want to personally just mention how when you are a university, they managed to recruit this whole goal, brightest invest into these industries. and actually they, many of them may go into the media to just spread the wood. that cashless society

fintech, these great new changes are important then if you don't believe in them, you are a love that yeah, so, but as a university, goldman sachs and jp morgan and you know, maryland sort of as big players with sort of hover around the elite universities and try to recruits and since the 5 is still the graduate, so at least create the idea that what success meant as being part of the professional services industry. and that was around, but, but i was in the financial sector around the time of the, the financial crisis. interestingly, since the financial crisis, what happened around the time was actually big tech started to get more sexy grad. so actually the idea of what was uh, something to aspire to start to shift the next the over the years since the financial crisis. a lot of those graduates started to get attracted to the big tech companies or to defend tech companies. and authentic sector is actually the sort of rome with big tech needs, big finance, right?

with the automation of the big finance. but in the early post, the financial crisis of 2008, the student tech industry kind of look a little bit black. it was a kind of revolutionary democratization of finance, which is the birth of the typical tech narrative when they ultimate things i talk about it as being a revolution. oh somebody is going to democratize stuff so so the fence x i had that narrative so um, so, so this situation right now is it actually big sack has become more powerful than big finance. but there certainly are joining together in various ways, right? via these been 2nd for structures, and part of that is a part of products manifesto economic society right now, for example, is an attack on the cast system, right? because their minds cash is a full of money. that's very a sides of ultimate, a lot of human beings really love the cast system and find it very useful. but big companies do not like the cash system because it con,

automates it scratch. um and so, you know, in the case of big tech companies like amazon there will literally cannot operate with cash. but even the big supermarket it's, you know, and big is big retailers and stuff. say they actually would prefer to work with a big tech companies and to deal with ordinary human beings dealing with physical money. right. so the automation drive is part of corporate capitalism more generally and does money. first thing in our society is a sort of ideological attack on the cash system. and they'll tell you that if you still want to use cash or somebody stuck in upon something wrong with you, you're not. you don't believe in progress, which is another way of saying you don't believe in corporate. both a nation of our society is different though in global south countries where the development is not at the stage of late capitalism, they're catching up to a stage where they might be able to democratize. we spoke to pull the ecuadorian

central bank or i don't try and whereas whose head uh, danny digital, uh, national bank currencies would be important. give people ideas of stakes in their societies rather than private bank or. yeah. so was, if you look at power and the levels of some live strides that lives in the us and europe in new jersey, see a few in the china, right. so, so the actual narrative, the set that i get and a mini global south countries. when you have leaders who all have both to distort sort of the cool a doesn't where they will often actually parent that same ideology and even live in global south countries. often people actually yeah, for example of them. so africa and south africa of electrical infrastructure is down for 4 hours a day, sometimes 6 hours a day. but the idea that you're gonna do, just as everything is expensive to right, actually in this country like semester, you're interested in resilience, right? so things are cash are actually really useful,

but still the ideology that comes from silicon valley will pen the 8th through the, the, the confidence right now. and sort of claim to be honest in a different way. it could be the search in south africa because they to yeah. so for example, in the afternoon context, you'll have talks about digital suffering. so you're right, you'll have local and select those local politicians or debates, whether it's possible to the tax from the main. it's national system and so actually for something of autonomy to say that kind of we would have to not be touching the reliance but visa and mastercard. so you mentioned andreas arouse from, from ecuador, i use a friend of mine under s, so that basically the global digital payment systems are controlled. essentially, by visa, mastercard, the swift network, the us bands federal reserve, the data at the sort of apex of that system. and if you're a country like equitable, you basically have no rights within that system. so if you're a us citizen, you can maybe dom on some rights in the, in the sort of these are mazda cod system. you can say, well i,

i don't want to be spied upon, but if you're in ecuador instead of then you don't get those rice. so in that context, that's called a digital sovereignty becomes very important because you can say, well, actually with maybe forms on parallel system. all right? so it's a very hard thing to do. but that's, that's why, for example, under, as little promote the idea of a central bank digital currency in a place like ecuador, right. and, but yeah, what do you zoom out to look at the overall system? the power lines of the big us funds and at least and the sort of western world and in a tiny stubs. but when we, i know we were talking about casual society and, and the myth of convenience and the p r spin to persuade us on digital central bank currencies, then do they offer more national sovereignty over the economy of, for, and the democratically elected the government? because they're outside and could be outside of the washington. good type of

physically. yeah, it really depends on how they're, how they're implemented. i mean, even even actually in european countries and stuff is the 10 silver cbd, it seems to have the ability to counter the power of the banking set to remember that that, that sort of image i painted of the amenities as a mining citizen, having multiple players and kind of, you know, there's a sort of central bank that has all the commercial banks and what's it called with the cash flow society is rarely when those commercial banks take over and you have to use their kind of digital casino tips or your payments. now, many years ago actually monitor a form groups started saying the commercial banking sector is too powerful, right? so we need to actually have a new form of digital states, money to compete with it. so hypothetically, if a central bank started is doing a new type of digital money or offer you an alternative to having a bank account. so um, and so is this gonna be even in countries like the u. k. for example,

imagine that the bank of england started saying we're gonna offer an account that you're gonna use, and that's gonna compete with players like bar plays and h as b c. right? and that's what actually a central bank digital currency, it's hypothetically, could be, it's not where the w t o steps in or uh yeah, yeah. so, so the re, i don't even ask of, what do you think this is against privatization, and therefore i a liberal. and so is it a radical version of c? b, c is definitely not popular among mainstream leads, right? and so, but that was a potential way of doing it in the past. as i do it, you could actually have this almost like a public infrastructure on digital payments that would compete with the private one . the reason why things like sense of bank digital currency are being discussed right now. there is not because of that radical vision. the reason is that during the pens and it goes a mass of dropping cash usage, as everyone was forced online and central bank and suddenly you realize that there's

a potential financial stability problem that emerges when the cash system goes down . right now that's a whole kind of structural problem in the monitoring system. so they said maybe we need to sort of think about creating some kind of alternative to cash and digital form. but because the central bank is don't want a home the banking sector and don't want to compete with it too much. they're watering down all the cdc proposals, the site. if we do this, we'll get the private banks to kind of run it for us and it would disturb them. but basically, so there's, there's multiple versions of the c, b, c, uh, of the design. it's gonna have the current versions being proposed in the, you know, you're sort of the european countries. i'm not very radical. the hypothetically and us level south country you could implement the cdc has some way to create a local digital infrastructure. because there might be, even in the global south country, your local banks also going to be starting with the visa and mastercard, right? cuz they're gonna be wanting to get into the international system. so sometimes

your local banks are working against your digital sovereignty as a where central bank digital guarantee will just find these a year of elections. how do you think uh, the powers that be leisurely to manage to persuade electro, it's all around the world will be voting this year. that the grocery shop analogy of how and economy works is the way the economy works. they seem to manage should be able to say there isn't enough money to pay for this. they will offer this in the manifesto. given that you are explaining something, even more complicated about the future of money. are you asking me how they will, the grocery store? i mean, this grocery shopping that there isn't enough money. does that make any sense to you when the yeah, well, i suppose though, the traditional way they, they try to present themselves as being like a house. so that's a very classic stats or rides idea that the but the government is like a, is like

a household like any other and it has limitations on his budgets, right. which is not true. i mean the, one of the ways to think about this is to imagine like um, doing it as medical for the works. but i can open the 3 vs squirrels. right? so squirrels run around trying to get the acorns, but the auxilary once the squirrels that take its acorns. right. and this is very much like the states in the monetary system. we imagine ourselves, the squirrels, you know, try to get the money, trying to work hard to find the money. but actually the state issues, money is like an oak tree. so when it's a gauge and it's got a mess, the raid that is like a giant squirrel that also has like a limits to how much, how many knots it has. that's a kind of fantasy as a political fantasy. and it's also very useful political fantasy, post certain types of people who want to know privatized staff will got public services, right? so there's a huge pop up 6 to speaking about money as this is some kind of, you know, limits of supply of knots. and that's classic austerity politics, right. so,

um and yeah, so that i don't know how positions will will do it this coming. yeah. but it's always a massive part of electoral politics. and yeah, there's a, there's also the big elements of it as well that that comes into it. and this has been a scam hungry about inflation to say if we try to employed so many people, they'll be in slice. and so we've got to keep a bunch of people unemployed to keep that, keep it down. i don't know, that's what your answer your question, but it's a big question. answerable logistic on them is who all? logistically bred scott. thank you. all right, thanks a lot. that's it for the show for them, but we're bringing you new episodes every sunday and monday until then you can keep in touch. my last social media is nonsense that in your country and i do i channel going on around tv on normal. they'll come to watching you and all the episodes of going underground season, the

the, the, the great nato split some in the states that really oppose funds to the books weapons to be used to attack the, into russian territory building. it's a roadmap to blue space. if we cannot contain the war psychosis that is developed in brussels, these years will be written as episodes of a great european world. war is rare. department. it's a cool idea. a tragic accident goes to the international community, conducting the kidding of $45.00 and civilian plus