they were tired of what was happening in rome people around the world are tired of the n.s.a. the cia the g.c. h.q. in the u.k. they're letting big point happen they want it to happen because they want to put they want to euthanize these bankers and they want to euthanize a system of bitcoin is the euthanizing agent and ironically you know as we've covered before the n.s.a. is doing the spying mostly for corporate espionage and you can see this because every new revelation it's always either they're spying on some major corporation or some major leader there you never catch them spying on osama bin ladin or his family or some other fake you know terrorist so let's look at the consequences of this and i say spying crushes us tech companies and emerging markets quote an industry phenomenon says cisco's chambers so this is wolf richter and he's looking at some of these statements about their dramatic declines from like the likes of

i.b.m. and cisco in the emerging world and they are terrified to use the word and say so cisco c.e.o. john chambers had a euphemism for it during the first quarter earnings call the quote challenging political dynamics in that country that country being china it was in between the lines everywhere but never once to chambers or anyone else on his team mouth the acronym and as a see the mistake that obama and bush and clinton made is that they didn't give the american people a cut of the crimes that they are committing they just took all they got greedy if the american people all had been benefiting in some way from the global rate of financial terrorism that obama is involved with and bush was involved with think clinton was involved but they might not be so happy to embrace something like bit coy which gives the big f.-u. to everybody who's at the n.s.a. the cia and all those various spy agencies and. there are equivocator who say well

everyone is spying or you've got nothing to fear if you've got nothing to hide the bitcoin community say you know what we're just going to buy bitcoin until every single banker in the world's euthanizing on the ground gasping for air they're going to stamp on their throat and dance a jig on their dead corpse that's what it's all about well let's look at cisco's earnings again and the dramatic decline and their emerging markets the worst being russia for them so our top five emerging markets declined twenty one percent said the c.e.o. with brazil down twenty five percent mexico down eighteen percent india down eighteen percent china down eighteen percent or russia down thirty percent well cisco you know very famously was the poster child of the dot com boom and bust of the late ninety's early two thousand two thousand and one period it was at one point the highest capitalized company in the world and then of course there rather's which are the backbone of the internet are infected with n.s.a.

spying of any country in the world wants to stop spying the need to stop doing business with cisco immediately and i.b.m. famously is also getting crushed by revelations that they're in bed with the n.s.a. and very spike and is for corporate espionage is for it's for taking you know the u.s. every accuses china of manipulating the currency anymore remember last year these to say a china is a currency manipulator member tim geithner before he picked up a job working for warburg pincus you know basically committing acts of financial terrorism but in the private sector now so they don't talk about china being a currency manipulator anymore and it's been revealed that cisco i.b.m. oracle all these companies google. facebook are in china leeching data from the poor peasants there and using it to their advantage to ingratiate themselves well n.s.a. is the acronym which they're not speak its name and he came to close this c.e.o. of cisco chambers he said that close. they came to us when you mentioned china time

is a little bit unique to cisco because some of the issues going on which you are all aware of. he said during the earnings call in august fourteenth once again refusing to utter and i say well and this is become the new n word you know on global markets around the world if you mention the n word and say it's like a turd in the punchbowl you know you've really killed the blows of that conversation. you know like wow n.s.a. gives me and i'm comfortable feeling like news yeah that's the new n word buddy so this whole mentality of spying it's not it's also corporate espionage but also to control those few peasants with any single pennies left and our own economies so let's look at what's happening in france french auto maker read no can cut off your car battery if you don't make payments on time french auto maker read i was using his battery leasing scheme to prevent nonpaying customers from charging their

electric cars big brother is watching dot dot dot your battery is called bricking and they lease this back yeah exactly they in order to keep the price down the lease the battery along with there is no easy car but now it's in the small print of your contract that actually says it can just turn off the battery right from remote location the peugeot auto manufacturing company. which is tied in with of course the state and the states buying authority we know that the n.s.a. spying in france show they're spying on people they're ok with the credit card companies and the credit facilitators of the banks if you missed a payment they turn your battery off if you're cruising down the highway boom oh. did pull quo all closed. all. i'm sure i'm sure did. well in the service contract and the fine print it is revealed. no has the right to prevent charging and there's always

the e at the end of the battery rental contract it was also revealed that ran out can do this and the case of nonpayment on the car or battery as well effectively making your vehicle worthless zoé. so it's a bit. up to the bench tool to do is one. reason i just don't you know. what if you all you see just a thing in france if you have a problem just tell somebody you have a crisis with your liver. and i'll help you that's it that's the only way to get any help i was young who used to follow. up with. this man's go to look at the crisis because you know be careful they don't harvest your liver and serve the plate. well as you mentioned at the top of the show the big con barbarians are at the gate and they are rejecting the americans who are not willing to accept the

barbarians yet us is already seeded dominance in between trading so currently the top four big exchanges by volume are located outside of the us with the largest being in china and less than two percent of worldwide trading a real time market making occurs within the us jurisdiction that's because people there it's not illegal to trade or sell because people are afraid they're free to seize or how he will react to this challenge to his authority well is going to race to global bitcoin race member the space race the late one nine hundred sixty s. russia sputnik which is known as a new show on our take on the george galloway is what. sputnik only r.t. but getting back to what i was saying so russia just putting which one out there. became the space race and everyone in the us became oh lord we're going to lose the space race. so then john f.

kennedy before us i got blown off said you know what we're going to put a man of the moon and then they won the space race but now we've got a new race is called the bitcoin race and who's right who's winning this race looks like russia china china they're winning this debate going race america's got their thumb up their strange wondering what is a big boy and the answer is it's the future and if you don't get with it you're going to be left in the past the scary thing is how you see this sort of totalitarianism which is a new form in that it's not like overly violent people just comply for fear of the caesar of the power because as he points out of course there isn't a ban on bitcoin in the us but there doesn't have to be an outright ban when there is a chilling effect on banking that translates into an unwillingness for banks and credit unions to engage with bitcoin related companies so it's the banks themselves but they're also complicit in that they don't want the innovation to happen that might make them unnecessary given the labyrinth and ambiguity of state by state

compliance issues financial institutions conclude that is far safer and easier to ignore bitcoin related opportunities this is the largest single barrier to payments innovation in the us because the cost of setting let's say fifteen million dollars from one point a to point b. can be as much as one hundred thousand dollars whereas using bitcoin it might cost six cents so that's a huge cut into the banking monopoly and they have a monopoly on money transfers money with a four x. market for exchange market is a five trillion dollar a day business and not only is it manipulated by these big banks but they charge enormous fees on top of the manipulations so here comes the big point i can loot any amount of money anywhere in the world for pennies versus one hundred thousand two hundred thousand dollars for the same transaction from some corrupt bank this plugged in the n.s.a. this raping me with fees that spying on me that's for selling me mortgage products that are contacting needed from big slop and you know resold on a mortgage market you know conducted by come to crafts and then repackage and securitizing for five and remortgage todd. rehab obligated looks like something

that came out of the back end of a pig over there at the no good nick farm yeah that's what they're selling over there lloyd blankfein is no good my car he got plenty big sloppy started it's all going to be destroyed with the euthanizing effect of it going to work on lloyd blankfein pig farm nomo oh yes you are because all that big i think you read by by the good security that is securitized hold on a wall of it nothing but worthless junk that is so now make it about a rich except those who actually do the job they serve it we've got to go i think the max. states of us are going to have a whole lot more. there's a media leave though so we leave the baby. was bush and see to. play your part of the physical. issues that no one is there still with to get that you deserve

answers from. politic only on r t. the interview. that is a city in the secret world of the fast majority of the syrian people the sunni population there the want outside stuff isn't limited to the genuine people's

uprising and it was appropriated very early on by outside powers turkey saudi arabia and qatar turkey is almost regretting its role because it now has to deal with militants on its borders saudi arabia is funding them continuing to bomb them it things it has a free it has a license to destroy syria it's astonishing that no one in the west has said that saudi arabia should get out of the syrian conflict right the reality is you can't put the blame going on how this started when people jumped in i mean you have backers on both sides and people that will benefactors on both sides but today that bombing in beirut that was claimed by an al-qaeda affiliate in levanon they said in their message that they will continue attacks until hezbollah and iran leave syria i mean that right there shows you how complicated this is and messy it is right now .

right on the scene. first for you and i think the jury. listen our reporters libby and the live. welcome back to the kaiser report imax keyser time now to turn to two guests carl gray a big point investor and producer of the documentary film life on bit coy and austin craig who is featured in the documentary gentlemen welcome to the kaiser report story arcs i call will start with you before we get to the film tell us about your how you got into bitcoin so it's interesting because in the. mid to late two

thousand and nine just came across the wires first i have to be honest i thought it was something similar to this world of warcraft money that people exchange to buy elves and whatnot let me just stop you right there for a second let people know that you have accumulated a position of a hundred thousand bitcoin so it's not very far from what the winklevoss twins have in terms of because you are a major bitcoin player i should add but continue absolutely re my rowing skills are nowhere near as good as theirs. so yeah i'll go into. some of the things that really attracted me to it was it seemed to be a perfect blending of ideology i come from kind of a libertarian capitalist background with speculation of finance and investments and as i start to learn more and more about it sort of play around with that buying a little here and there initially i started to look at it as a way to facilitate currency transfers to a lot of travelling from continent to continent and this seemed like a very easy way low cost way to move money around. more and more though it appears to have taken on status as an asset class in and of itself similar to gold and

silver although it should be said some of the biggest detractors right now are gold bugs is what it is why do you think that is carl other words a lot of people who are so-called libertarians so-called. you would think they would be swarming all over because and yet they many of them are rejecting it it seems completely crazy to me well why do you think that is because they have lots of gold and they don't have lots of bitcoin so. they're advocating the loss that they're most bullish and have the strongest position and you know i try to have kids approach to investing which i can call known to most of which basically is don't get emotionally tied to your assets but well people say who on gold the rand paul community that's about freedom that it's about libertarianism so that they are . speaking more from a place of their own self-interest and their position and goal and that the ideology that they. espouse is more window dressing and not based on

a true conviction was it could be an element of the but i think it's more so this ideological argument about purity of money right what is money that's the big question every going to be forms of talk because people are gold bugs the big question is what is money and of course it always comes back to this argument of well gold is money because it has intrinsic value you can make stuff with it you can make jewelry you can make space home and so we have a case may be because they say has no intrinsic value so it's obviously not money and i would obviously argue that saying that yes you can't necessarily make something out of big coin because it's digital but you can do a lot of things with bitcoin you know talked about currency transfers mobility of money velocity of getting money from one spot to another and you know i don't know about you but i don't often like to show up at the airport with a big bag of gold coins slung over my shoulder so the t.s.a. can say well what's going on here where are you going and what's this all about but the argument about whether or not bitcoin has intrinsic value or not to me and i've

said this a few times and i'm surprised more people aren't you know agreeing with me on this but essentially what we're talking about are precious numbers say that the total bitcoin network now which is carrying the bitcoin protocol it's tens of thousands of nodes or computers or servers strong working in parallel to discover or mine what are socially precious numbers so you have a precious metals precious minerals like diamonds rubies and these are precious numbers. the numbers i could not otherwise be discovered were not for this enormous distributed computation all or a of computers all over the world so it's it is a different value it's just i guess that these folks just haven't really gotten the ability to. change the way that they think they're just basically lagging behind unfortunately by the time the rand paul people get into bitcoin the price will be want two thousand dollars per bit going higher so they'll be way way late to the party but still there's still tremendous upside let's talk to you for

a second austin craig you and your wife live for one hundred days on bit coy and you travel around the world tell us about the idea it was if big when is this decentralized digital currency it's not currency unless it's used for things and that's one of the main objections of people have towards big oil and it's what can you use it for what can you buy with it what we want to see if it really was usable so we started using it for everything we did this experiment where for the first one hundred days after our post honeymoon married life we used only that quote from the time we landed back from our honeymoon that's all we used for rent gas groceries. everything we needed and we tried to work that out in our home town finding a grocery store finding gas stations finding an insurance provider and then when we figured out and got comfortable using it in our hometown we wanted to expand the boundaries see what was possible and so we travelled we went around the world we drove across the us and then flew to stockholm where you mentioned the nodes that are running the network per capita there's a higher concentration of big corners there running those nodes than anywhere else

in the world when stockholm met up with kinsey minor who makes the hardware that runs a lot of this network went to berlin neighborhood has a lot of restaurants and other merchants that accept it quite a form of payment and then we flew to singapore the global financial hub and representative of china it's just become very interested in that point and singapore is this highly commercial area we wanted to see what the community there thought of bitcoin and how they were using it and getting involved what we found is that it's being used and adopted all over the place for all kinds of different. since you know more than anybody that the views on between are pretty broad but so are the reasons that people are using it right now you finance the project or organize the financing of the project car with a crowd funding platform and i believe you raise seventy two thousand dollars or something along those lines to get this project going and it's film and there is a sense the film has been made since you've come back because the story has been growing exponentially so i believe if i'm not wrong that the current volume per day

is equaling the transactions of pay pal. equal now in bitcoin that's that's a huge benchmark that's been achieved the adoption rate for bitcoin is similar to the i phone ok so this is just exploding it's one of the fastest adopted technologies in the history of technology the i phone being previously the most quickly adopted technology in history this looks like it's going to eclipse the i phone and you still have even the mainstream business press like business insider henry blodget's company and with joe wiesenthal you know they are like anti big going they want to even open their minds there's a slight cracked and think about what the implications of the south are just no no no is it just because they are wed to the old way of thinking and they're about to become a blip or a bit by bit coin and we'll never hear about them in five years or is it just a learning curve they have to go through when you know which is the user. especially in libertarian movement the whole goal. of the it's like e-mail when

e-mail came along cursed was regular mail or telegrams or phone calls were because maybe. the early adopters of even realize this is going to be the way everybody communicates in the future of course from that we drive twitter and all of those types communication and so we're at the coast now the early adopters getting in are going to be you know thought of as luminaries down the road and that's happening today. because as also mentioned i mean austin and if you live in a small little town. in utah not the bleeding edge of either finance or adoption for a new trend the ideas. is very conservative very republican area and yet they were able to buy gas they were able to buy groceries they were able to pay for their rents so i mean you know people are getting people who are understanding ok this is simply a form of communication a form of financial communication if you will there what you know after about a five minute conversation we're seeing people say gets up and we hope sign them up

and then they take payment but austin you are also acting also as missionaries because when you went to towns and they couldn't use it but connie just signed him up and they started going and yet i think n.p.r. covered a story about farmers using bitcoin and they were introduced a bit coy and talked about that a little bit we had to evangelize a bit coin and sometimes it would be we would need somebody we had to do the transaction right there and then we had to convince them in five minutes to accept because it is a form of payment and we use different techniques to do that we use different third party tools tools like pay for somebody who's going to be a long term merchant accepting the current on an ongoing basis we would use coinbase who are paying somebody just for the first time need to do the transaction right there you could just use the email address to send them the coins there are various tools and third party services that are popping up in the current ecosystem that make it pretty easy to teach somebody about it and then get them involved very quickly was there any pockets of resistance as you go to a town or a geography or a culture where this message the evangel and vandalizing a bit coin met resistance we went to places that were not really ready for it

sometimes as we were driving across the us one of the things that you need to have to be able to use is connectivity you need to be connected to the web and that proved to be an obstacle that we faced around the globe surprisingly it was an obstacle in berlin several times and in neighborhoods that were already very big queen friendly if we didn't have wife i didn't matter how they were to it but those problems are being overcome more and more as connectivity grows and as the tools available to us grow as well as africa conduct of a day is leapfrogging. out of a lot of other countries and also the use of digital currencies and bitcoin is big in africa so it could be one of those some of the moments in history where technology enables a continent to suddenly become quite dominant in the world economy and then a country like the u.s. which is trying to put up roadblocks is going to really take themselves out of the game here karl yeah i think that's very important to understand one of the countries that has adopted. so readily has been china and i think one hundred years from now historians may look back on this and say this was the suez canal moment

this was the moment when power shifted from maybe the western countries u.k. united states over towards the eastern countries do which is the chinese now accept that as a method of payment i don't think it's all of a sudden jump from the one hundred fifty dollars range to four hundred dollars in the weeks following those so the people in china that i speak with her i'm in sleep bullish on bitcoin and triple currencies in general and you know i think you're exactly right especially regarding africa you know this decentralized currency is going to allow people who traditionally haven't had access to easy credit or to finance in the traditional sense all of us and now you're going to start seeing peer to peer lending micro credit all of this facilitated by bitcoin without the need of going to a big brick and mortar bank you're going to have people in one village lending to another that's going to that's going to basically allow for each village to become more prosperous more self-reliant. talks about let's cancel the debt let's hope

through capitalism help people bring themselves out of poverty i think because it's going to be central to the mana you said about oh yeah well i think a more recent example is russell brand who got a lot of traction tens of millions of years on a video he made on with newsnight talking about we need a revolution we need a revolution the revolution sure russell's call bitcoin now three years ago we really broke the bitcoin story to the world press here in the kaiser report i think that's fair statement a lot of people heard about for the first time from. show they had toni collette beyond from a bit pay world leading merchant processor and we've been following this all along i want to do another first another kaiser report school says we are going to bring to the world community now a phrase they may not ever before like coin light coin as a crypto currency you're already into like coin car all gone take away so people would be familiar with the traditional relationship to gold silver silver being the little brother of gold they tend to follow each other sometimes in the staggered

way like point has a similar relationship with bitcoin right now it's trading about four dollars a coin operates very very similarly it's a crypto currency operating just a different exchange we believe that coin is going to offer the same kind of returns that we've seen in coin we think it's just maybe you know six to eighteen months behind the curve all right probably got a cut off there and austin i got to say good bye thanks for being on the kaiser report thank you thanks max and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i'd like to thank our guests carl gray's the producer of a new film called life on bit coy and of course craig austin crank his wife are traveling around the world living on nothing but going if you like to get in touch with us tweet us a kaiser report until next time x. guys are saying well you know.

you know that these volatility of bitcoin is what makes some people extremely excited a. new digital currency and on it people extremely rare coins and that's one of the reasons why i caution people this is a very high risk environment and it's really not ready yet for for your average everyday investor to trust their savings to it and in any way anybody who puts money into the system. i should expect that they could lose all that. oh god is woman. is protects. their rights to do things extremist faction remain thinks. the bus has to be aggressive let's israel keep the man's.

face to go. in the future. is going to show we'll in about a technology keeping the moscow metro rolling new modeling in surveying techniques made ways in the oil industry and the dream team of robots to places too dangerous for humans. to ninefold the latest news and innovation is here on technology update . we've got the future covered. if you. got no opportunity. to start to construct your own little current. olympian bit give don't want to meet gangstas you don't want to be dog they don't want that bull

with all the time that the kid came to be we can see. you just me because i was and i hope i was in the hood. he said. i don't want to die i just really do not want to die young young age. if you're thinking about an alcoholic drink associated with russia it's probably not going to be one that springs into your head but they've been making it here on the black sea coast for more than two thousand kids and there's an industry which really can compete with the best the rest of the world has to offer i've come to meet some of the people going the greats and to see if i can find out the secret to

the perfect. person i. guess. it's homage. to. one hundred twenty three days. through two hundred two cities of russia. relayed by fourteen thousand people or sixty thousand killings. in a record setting trip. air. space. a little torch relay. m r t r c dot com.

officials agree upon the wording of a security pact which will give us troops left in afghanistan after two thousand and fourteen immunity from prosecution but a council of elders in kabul has yet to be convinced. the united states subsidizing. the taliban. the haqqani network those groups that are trying to shoot and kill our soldiers. millions of dollars to companies linked to terrorism in afghanistan. also the british government warns christians are at threat of extinction in some middle eastern countries to syria to investigate the impact of sectarian violence there.