welcome to the kaiser report imax guys are you know dad is finally over but have you paid your bill yet i see you didn't realize you had to pay for the self described great and good ha ha ha ha ha stacey oh max actually while we've been saying this as you see the german fighter naval ship is leaving exiting the city of london i think speaking of bills that have yet to go unpaid they're trying to collect their gold they got thirty tons out of the us lord knows how much they're taking away now now all fat chance of getting any of that gold i mean we broke a story here a few years ago that the bonus bank didn't really have the gold and then that started the whole scandal and now looks like they'll never get their gold ha ha germany ha ha regarding being finally over i wanted to point out this discount and this is from the economist and it's a chart of the underperformers i.e.

those companies that send executives to davros and three of the past five years they've underperformed the s. and p. five hundred and c.s.i. world index by up to forty percent since ending their executives up to dabble it's now why could that possibly be but i think it's pretty obvious what out of smith talked about when you put a bunch of businessmen into a room they will collude to fix prices and so when you go to basically they stop being competitive they're made to be competitive so the stocks underperform because it no longer being competitive enterprises they do side deals they do balance off balance sheet deals they collude they rig markets they pay enormous bonuses so there are stocks start to become less compelling because there's a place or build a burger similar where executives go to collude so they're competitive ability collapses look at microsoft microsoft you know one of the great underperformers for years and years. because it has

a twice convicted pro tory monopolist to go to these confound annual basis but they don't compete they just a predatory monopoly and that's not the same as capitalism the other thing of course is that they're colluding with known con men and fraud so you're likely to be defrauded if you think you know a lot of people thought they were on the same side of bernie made off they thought they knew he was doing something wrong they knew he was defrauding somebody but they thought they were in on his fraud and a lot of people go up there and think that they're in on the fraud with these fraudsters and that's why they pay a lot of money to go up there and meet these fraudsters oh it's a great place to meet celebrity fraudsters you know we live in an age of celebrity fraudsters whether the bankers are c.e.o.'s they become huge personalities in their own right the same way gangsters in the one nine hundred thirty s. like al capone became very famous and we have jamie diamond he's a very famous bank executive for what he is his criminal record is what stands up you paid enormous fines over the past year they gave a huge raise because he's

a celebrity c.e.o. crook and also i would imagine they go up there and they are surrounded by an echo chamber so it's biased confirmation they go up there a few dozen a few dozen people go up there there although you know eighty five richest people in the world that own as much as three point five billion at the bottom and they come away with the notion that it's like kristallnacht and those three point five billion people who are up set with them this is the guy from kleiner perkins one of these very wealthy guy who wrote an editorial saying that the bottom ninety nine percent anger with the top one percent is just like crystal not so this is i think what they go up there and they come away thinking this sort of stuff. tom perkins yet authorial comparing the plight of the top one percent was kristallnacht the king of german warships. yeah i mean that famous day in nazi history where the nazis declared open season on the jews and they were murdered and

their shops were closed and tom peters is equating the plight of the one percent which is sad i mean aaron swartz is really his being pursued to death by chris dodd in the m.p.a. that was more of a kristallnacht moment in american history so now let's look at this data is discount and apply it to perhaps you know the governments the politicians the heads of state that also go up to dabis like david cameron was up there this year so let's look at the davros discount which could be applied to the u.k. economy and g.d.p. and the wealth of this nation judge the royal mail sale in three months said vince cable time's up today share price confirms the company was grossly under the taxpayer to billions of pounds so remember just after the world was made public and vince cable set the price at two hundred eighty p.

and when it popped by like thirty forty percent he said don't count this this is just speculation come back to me in three months and see what the price is then well it's up to six hundred tempi and that means that the british taxpayer has lost two point eight billion pounds in wealth that they could have had for their royal mail which they built up over a generation this is part of britain's program or program sense or talking crystal not of selling off the jewels of the british economy to private shysters whether it's the royal mail which they mispriced to be asked of criminals like j.p. morgan in any ordinary contract or all contacts there would be a claw back of vision. that would allow for the mispricing to be overcome by her. having the ability to claw back funds in this case back to the british people who built this asset over a number of generations but those types of clauses are not available for the

average schmuck that lives in britain who's exposed to financial terrorism on a daily basis and just. babies suck it up it's kristallnacht now regarding this sale of course it was goldman sachs and u.b.s. which flooded the company that took the company public and goldman sachs and u.b.s. the companies paid a stunning sixteen point nine million pounds by the government for managing the privatization were questioned about the price discrepancy by a parliamentary committee in november they denied any impropriety claim the three hundred thirty p. price was correct according to their research and described the whole fiasco as a well executed transaction less than a week later goldman sachs issued a note to its investors advising them that the price of the shares would settle at about six hundred ten p. which they have now settled that now j.p. morgan at the time told the government when they were in for the running of taking the company public the royal mail they said it would be six hundred to seven

hundred pesos they could have gone with that instead they chose for some reason to leave two point eight billion pounds on the table for how did they end up with this losing that money it's the dallas discount it was the kickbacks from some party they were disco dancing on the dance floor with jamie dimon or lloyd blankfein in this case and a deal was struck right i mean it's incorrect to say there was no impropriety the goldman sachs's in that case lying there was an impropriety as usual and the problem coming out of the two thousand and scandal is that the banks that were caught committing fraud during the subprime crisis the c.d.o. crisis the libel rigging the forex trading the gold market rigging the energy market rating those banks never suffer any consequences or regulatory overhaul they've been told in fact that to be a crew is to be a. warded in jamie dimon is the poster child for this wash of goldman sachs a bay the law why should h.s.b.c. obey the law when here's a guy jamie diamond who's broken the law and numerable times and they give

a big fat twenty million dollar payday to be a celebrity crook there's no incentive to obey the law if you're a below the line if you're living on a council flat and you're starving and you need to steal it don't it to keep another day afloat on this planet then you're going to jail well i like the idea of a celebrity crush and it could be you know celebrity cook t.v. show because people like reality t.v. shows and that's the only way most people ever learn their information or know information about the culture and society around them so that celebrity cooks accept their celebrity crooks everyone like the celebrity cooking shows this is a celebrity cook show so instead of cooking let's say brownies for some celebrities jamie diamond and k.p. m.j. are or delayed and two shirts and young or the other one they can cook the books but they're so good at they've been proven to cook the books and there's jamie dimon cooking the books he's a celebrity crook you know a name of some network some cooking show and there is he's

a celebrity crook you know and then let's all celebrate the fact that people like the royal mail flow absolutely hammered people with a horrible deal they sold a jewel they that income go shares are now in the pension account of germany the german people are getting the income from the royal mail all european states states around the world that have a functioning welfare state like germany and others they bought those shares because they want the income from mr and mrs job back a blogger here in britain putting their little postage stamps on. packages putting it into the big red box and they gave it ten ten p. of every transaction goes to some you know german friends living the good life on your hard work soccer first well let's roll back the tape and look at that german warship that was covering down here they were probably investigating their little investment in the royal mile now. of course the u.k. government left two point eight billion pounds on the table that is six times more than the bedroom tax which is throwing old people out to the street very severely

disabled people out into the street people have committed suicide based on this that's kristallnacht right there the government and the bedroom tax let's throw the british people out onto the street and it's open season to commit violence against their own people that's kristallnacht that's always born in cameron's kristallnacht tom perkins so it's not tom perkins the fact that you have to spend thirty thousand on a hooker davos here is not does not does not mean you're suffering if you're in the bedroom tax you're thrown in the street you're starving to death because you've been scapegoated by you tom perkins you're the perpetrator of the holocaust tom perkins wake up to your own reality. it well they call it well executed transactions that's this financial hole across this fight and shall wipe out this meltdown of course everything is going wild again of course in the markets but they call it a well executed transaction that's the discount that's why if you go up to dabis

and mingle with these people and go disco dancing with them and lord knows what else they do in the middle of the night you're going to end up with a forty percent less and when you went there as the economists chart showed now. regarding all of this what do you do the revolution i want to show a little clip from. the juice route news now to tax and finance with skies are all born giving pope a put on the charts in australia you know what you think and how to laugh like somebody talk about nations well like robots just bombing how can we stop the clock like we could all coming back. to the cell phone banks back on the ocean revolution what culture go right we'll go but i'm a celebrity i'm not going synonyms me and him to my god i can't put you like those who agree with you but understand because of the issues going on here but you have to let go record. on the side oh russell brand racially call for

a revolution and. except russell brand have nothing to back up is is his. his call for a militia but i do have the big point as well as monopsony. say that now you must have gotten to the human eye can say monopsony like the program to save the n.h.s. that those a real hard things one can do russell brand is just you know shaking his locks around he has no plan at all except to say oh i'm worried i'm concerned well and finally on this i will say that the block chain would have prevented this well executed transaction by which they u.k. taxpayer lost eighty percent left on the table with the royal mail dale so had us all been on the block in all of our contracts all of our ownership all of our wealth on a block she and we would know what we really had and who was stripping who isn't

a well educated transaction or a transaction geared toward execution all right stacy thanks we got to go to the states in for the second half a whole lot more. do

we speak your language i mean some of the will not advance. the programs in the documentary some spanish what matters to you. stories. london. street another one.

the city the city. welcome back to the kaiser report by max keiser time now to turn to luke mitchell and jordan fish the developers of match point match point we're going to mine the genesis block right here on this prerecorded live television show luke and jordan welcome to the kaiser report all right so tell us about the max calling what is it to start with you. calling another one of them. we've had some special stuff and we have indeed but let me go to my next question when you set out to create a new crypto as you are doing right now this that's going one of the first questions

that you need to ask such things as hashing method and rate one of the options why do you want to be chosen for max going well at the moment there's a lot of kind of cloud and so a lot going and they don't really have any special features per se they just clones where somebody is going to take it with the amount of coins and circulation often from items or they have really taken only one anyway so we set out to make one thought was in some respects different and better as we have. which is the shelf rehashing algorithm selected by the n.s.t. so it is a consortium of people that show you so before idea is the most secure today stop let's roll back for a second hashing out where the hashing as the term let's just talk about that a little bit ok so there was a crypto currency like that calling every ten minutes or so are released into the into the you know into the community after the proof of concept has been run for

the all the transactions up until that moment and that's a hashing the housing function hashing function which is up for bid coins up to like five and a flops or something you know the normal amount of use amount of power going into it and has essentially increasingly trust in the network every single time a. his mind you know rhythm is the mathematics that underlie that pretty confirms all the transaction so you've got to hashing methodology is better in some great people that are different well it's different in the most current up to date one so you show up to five six which is what the previous generation of hushing function so both is tried and tested. and they're all the tykes one against so we decided that he's a new one this year which is said it's been selected off to five years of rigorous competition so we decided. and we also fought about trying to launch a cryptic when in a way it's really and the utilizes parameters that is the. only beneficial

to the developers don't you guys are from bristol university there's be a hotbed of this type of technology also have the bristol pound and other alternative cars yeah so if you get your point here with this mining that goes on. there's a point now where people are using is very expensive mining breaks yes mine coal in which is they actually mining is the word used to solve these mathematical problems at least as the coins into the community so you're suggesting now that this is not expensive mining mining not required well for the moment yeah so if we launch using . there on any a sixth all created at the moment in order to solve a crippling current problem. so if you have big point then most people can't afford to buy a sick mind so they don't really have any chance of mourning their inclusion in a barrier to entry exactly the most out of our problems get more difficult as the mining progresses demand it limits apply and to create that mining analogy exactly

even with script lines now people have you found so every script kind that comes out they can use the same. set of. to mine it with a new one you can ok let's line. just block right now ok so open up your laptop and this is going to be the launch of a crypt oh yes i actually yeah indeed this is exactly my point is not come out in two thousand and nine this is the moment recreating a moment that we are retracing about rightly called max coin it's an alternative currency old coin which is going to be trading alongside other goings on that are now under one hundred or so old coins but let's go ahead you are going to mine the genesis block. sees ok i'm doing is not really exciting my friend i'm going to warn you basically you're hitting a start button yes so what happened just out just like at the moment when you want to jump this bloke you need a few parameters within the code so we need to give it the time which we're going

to. particular string something with lines of might cause a launch is there no question and then let the transaction work for a while and eventually it spits out for the first point in the book which is the public ledger details of the transactions up to date and that's when one comes to the ledger so you're. going to quickly go beyond. i'm going to run and then the second. time we plug. i can feel it i just feel my mind feels mining my mind i thought this is like an equity conversion i simply thought about currency and now exists in some kind of cyber dimension but let's talk about people's discussion about crypto and it's becoming quite huge of course because bitcoin become a multibillion dollar industry and it's spawning all kinds of startups and venture capital there's a question about all these old callings where do they fit into the universe as

creating multiple alter coins is dilute the whole bitcoin crypto experience what are your thoughts i think. introduce people to their kind i think. people that wouldn't have bought decline in the crypt occurrence i'm sure what. point you know i don't know how pronounced the venice. believed her daughter may be doug but ok so so this is a very it's a sixty million dollar capital of capitalization of a crypto coin and it's launched really by community using exactly what we just it exactly the psychology right but different parameters yet different mining parameters different hats various different rhythm exactly right and so. but it has a very thriving thriving community that people have supported and because more people support it it has a rise in market capitalization and you're saying that you it's important because it's drawing people into the crypto space is that right yeah i think the target audience for that coin is very different to the current target audience but it gets

people into cryptocurrency and i think there are some all kinds of detrimental to the con because some are just released as pure scum clowns. and still mind all pretty mind placing fat distributions really important when you do want to point the all current environment kind of seems like a place where you can test new features so you can try something out like zero point is trying out a shot book chain so you can see who gave my take on the books and you can see every transaction processing on zero point they don't want to see you know going to script the experience when it lot of people go first because first launch they made the comparison to seti search for extraterrestrial intelligence which was a program that allowed all laptops c.p. is to join in and solve problems for i guess nasa to sort through radio frequencies and they were using the network to. combine distributed network to do something that no one computer could do and you have

a distributed network effect here cryptocurrency instead of having one central bank you have just tributed back of tens of thousands of computers like this one with macs going but others with other crap those are big point that are essentially hashing the hash algorithms in place or solving these problems but the idea is it's all distributed right that's the big difference we can equip the currency and say the dollar a pound is that they're all centralized with a central bank this is the centralized currency is that an important feature. or things like completely gives power back to the people using some very simply means that you don't have to trust. in order to control your money to call for it to maintain the system because every. he has a vested interest and who has the money and big cohen say he's running with clay and is contributing to the network and i think you see that with our technology such as toll which is massively important for encryption things like sexy and folding are distributed as scientific proof i think decentralized networks are

almost the future of the internet because it means you don't have to pay somebody. to sit around to mediate something you get to contribute yourself and it's everybody else was now you're in bristol you know our show kaiser reports and the. dealers here in the twenty million worldwide you guys have seen our show undoubtedly and we're always bashing bankers we say they're all basically scum yes ok now as students is that message resonating. and is that part of why are going into a crypto environment in other words. there's a transition going on in finance and. kind of next generation to step out on into the world stage is this what you see as the banking is this what you perceive as banking today versus let's say the old school just be barclays all the scales they're involved with are you willing to just say screw you guys this is this is banking now this is the new twenty first century reality i would like to see that

happen i've paid for big is a bit queer now i've paid for bits and pieces and shops and as far as i can tell there were mormon websites and vendors that want to accept it and if it gets the point where i can live my life about having to use a bank where i can control it on my phone or from my laptop i see my problem in doing now what's the story with katie calling ok because kids start to talk about kids and again i'm not sure to put out this kitty or to tell a but it came out after. a dodgy. so that what's up with katie couric has become a bit of a penny all the penny you know like like be like penny stocks why born to two sometimes and i think. and then i had like upon a gross up to about thirty five and you tweet about it and out upon a question was about one hundred thirty i don't know what it's called now i think ninety right now so you pay the toshi for now so toshi is a subdivided divisible of a big you know the lowest possible model which is what was it divisible to eight

places or a places so that's a state toshi and you on the more of these crypto exchange like it was a clip see i bought. cleaned up which is a slow site in the world it's the slowest like the world that's not a good thing but can people max coin will be listed where we have coins the so they're listed straightaway coins and we have another exchange that we've written ourselves there is an exchange in the works for the moment ok which is it in my scans because so people can convert pounds into max going on an exchange and then they can convert it into a doze could say or bitcoin or dollars or pounds or yeah right so it might you know to get back to this point. have about thirty seconds but any any crypto transactions that are pulling money away from the fia world is capitalizing the fia out world capitalizing all the fraud of the of the of the world would you agree yeah i think the market caps of all kinds are getting kind of silly now as well i think a few of them i don't want to pick on my account so right now there are

a few more. just enormous then the macs going to take those it's got a sixty million market cap i mean can we get max going above sixty million a market cap you must be a. does your don't do. forget kelly all gone well we're out of time guys thanks for coming thanks for being on the kaiser report and we'll obviously be tracking this very closely in the kaiser report and anyone who watches the show i was going to get a leg up on minding this going so thanks so much you're welcome. ok that's going to do it for this edition of the kaiser report with me max kaiser stacy herbert i'd like to thank our guest a look mitchell and jordan fish creators max going the most exciting all coin in the universe today now ready to be mind. now if you like to get in touch with us tweet us the kaiser report until next time.

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