many times we've talked about it not up to the task and so they finally were overwhelmed and they're probably going to go completely out of the picture and other exchanges will take their place and the bitcoin price is it will recover because general technology of bitcoin the cryptology is not being questioned here of course it's not as strong as mac's going cryptology which has a superior cryptology and a faster hash rate this is why a lot of people are now moving into macs coin because they realize it's a period to bitcoin in many ways big coin however does have a first mover advantage and it is widely adopted and there's a lot of services and goods plugged into it but i wouldn't be surprised to see max going to twenty thirty forty million dollar market cap in the in the short term so the price fell down to below one hundred dollars at mt gox went back up to three hundred dollars three hundred forty dollars then fell back to two hundred dollars now during that whole time mostly here

a lot of shriekers and it's also good to remember that this is what regulators this is what central bankers this is what politicians are hearing they mostly hear the streakers because they shriek louder than most than normal people who are understanding like jim rickards can look at it and say well the market is just pricing in a sixty five percent chance that mt gox will collapse just like argentina for example their bonds on the face of it will say one hundred u.s. dollars but you can buy them for fifteen dollars that doesn't mean that the u.s. dollar went to fifteen dollars that means that people are thinking that argentina is has an eighty five percent chance that they're going to go bankrupt it's so locked of reporting on financial news we see it in the gold market the physical gold price is a lot higher than the paper price of a very sixteen inches but the media will report on the paper price even though that's not the actual physical price of gold in china and india and around the world was changing in five ten fifteen percent higher prices they also choose to.

the absolute least interesting price or representative price for a big coin by picking on the mt gox price which is not the price of bitcoin why because a the agenda here is clear banks don't want the competition they don't want good point to succeed the central banks that deal of money don't want a competitor and they don't want to cryptocurrency they are going to report the news in a way that reflects their interests unfortunately there is no pure objective news source anymore except aside from the show now over at mt gox back to there and at the time of this reporting they're still up and operating they have deleted their entire twitter stream we don't know him by the time this airs they could have gone bust them are compelled to jump from some building in japan but there are still active trading going on there and there are people in the market who are gambling who are taking bets that take a high risk just like paul sr took a risk buying argentina bonds at fifteen dollars fifteen cents on the dollar he got

courts in the us to recognize one hundred cents on the dollar for him but there are people like roger baer a huge point investor who has been buying up some of the bitcoin at mt gox taking the gamble the risk is a huge risk for him that they might not actually allow withdrawals but many are calling this the death of mt gox but the extension is yet to throw in the towel trading on the site is still active and according to marcus centaury chairman of the big quinn foundation's very glittery affairs committee there's a lot of people who think that they are getting a deal if the exchange manages to remain in business through the ordeal and resume withdrawal functionality that those people are getting a good deal buying in a low of one hundred thirty five dollars only to turn around a week later and turn it into a six hundred dollars or more is exactly that perhaps the possibility of a quick major again is what will ultimately save mt gox from insolvency but there is what you would call an exchange arbitrage between the price on mt gox and other exchanges the paul singer comparison is a good one paul singer will. or engage in vulture capitalism as it's called picking

up sovereign debt pennies on the dollar and then sued the country for repayment and for all of that debt it's not a very. pleasant activity he's engaged with just read the reports of greg palast on this to get a fuller detail but roger varos one of the founding fathers really of the bitcoin movement is acting as an arbitrage or buying bit calling cheap on mt gox and then just a patient of there being a closing of the price gap and then here we'll make some money and he's providing liquidity in this market which is very very vital also in europe comparing to another currency that people many people are screaming out of control of the euro is going to collapse to record so we had on the show at this time said it's not going to collapse it's actually going to be stronger than the u.s. dollar that was back in two thousand and ten two thousand and eleven he was saying that right here but this is an article from december two thousand and twelve on

bloomberg if you bought greek bonds in january you earned eighty percent your credit investors bold enough to buy junk rated greek bonds in january have earned twenty times more than owners of top rated german debt this year even after the biggest ever sovereign restructuring greek government bonds returned eighty percent this year compared with three point seven percent for german bunds and six point one percent for spanish security so back then when everybody was shrieking that because the greek situation the euro would collapse a lot of people made a lot of money and greek bonds a lot of people lost a lot of well as friends are now in the business of monetizing twitter activity twitter data and one of the all of the data points they filter for is the shrinking factor so when you have a crowd of shriekers let's say a big coin currently or greek bonds greek stock market as a contrarian you can make a. money because the crowd is

a variable the wrong you know that book that came out a while ago the wisdom of crowds you have to compare that with another book called the popular delusions and the madness of crowns that came out a hundred years earlier the fact is that people who have made a tremendous amount of money in these markets like george soros for example or warren buffet will do exactly opposite to what the the shrieking crowd is doing so you see the shrinkers that they have a use if you're in the business of making money because they tend to sell the bottom and buy at the top so in the case of good coin the shrinks are quite well which is bought a contrarian point of view the absolute best time to get into a big coin are bright my price target is still in the short term fourteen hundred dollars and in the medium term more like ten thousand dollars per bitcoin as the adoption rate skyrockets and you have all these other businesses that are not plugging into bitcoin all the venture capital is plugging into the big block chain

so two years from now ten thousand dollars per bitcoin i think is in the bag now speaking of shriekers one of the most famous streakers of all time jim cramer remember during the early days of the financial crisis he went on to see him b.c. had a total meltdown shrieked about this is no time to be an academic you've got to bail out bear stearns my friends are suffering you've got to save the financial system well we now have those minutes released from the fed for five years ago during the financial crisis two thousand and eight what the hell were they thinking fed two thousand and eight edition this is a quote from fed chairman ben bernanke at the time september sixteenth two thousand and eight two days before the collapse of lehman he said i think that our policy is looking actually pretty good our quick move early this year which was obviously very controversial and uncertain was appropriate he's of course referring to the seventy five basis point slashing interest rates on a sunday night to rescue bear stearns and j.p. more. again but here he is before the collapse of lehman brothers where he's like

it's all it can really good. we also know looking back five years that ninety percent of the game post collapse was grabbed by less than five percent of the investors not less than five percent of households in america and around the world grab ninety percent of the gains in stock markets have doubled some banking stocks have quadrupled and quintupled ninety percent of those gains were grabbed by insiders friends of hank paulson remember hank paulson told his investor friends that they were going to bail out goldman sachs and although at the public domain he was saying he wasn't sure or they might have to fail but privately he engaged in a massive insider trading scheme and told people directly that think the government was going to line their pockets with several hundred billion dollars well that's good to compare it to the big quit situation at mt gox now what hank paulson did is he told some goldman sachs investors that he would be bailing out fannie mae and

freddie mac. though in front of congress to the american people he said that would never happen but indeed he did so only goldman sachs knew that he would bail out fannie mae and freddie mac. so this is one of the speculations about mt gox is that of course they know whether or not they have only mark karr peleus knows if he has big coin to give to his clients so he could if if he does have he could of course buy at one hundred dollars and then sell them at six hundred dollars later right well goldman sachs for more you know was actually taking a close look at that calling now and then been doing some internal research and circulating internally so obviously they're quite envious of mt gox and big point at this stage and grabbing market grabbing attention it's obviously the growth industry to be and i think goldman sachs will participate like some of these other new up starts well but they will try and they of course will do it. or they need to

do to try to grab as much of this business as possible then become goldman sachs by sitting on the sidelines and then finally a quick little headline about the biggest participant in the money laundering operations of not big corn but the us dollar mexico's top drug lord joaquin shorty guzman arrested so one of the world's most wanted drug barons joaquin guzman known as el chapo or shorty has been arrested in mexico he was the leader of the sim aloa cartel which smuggles huge amounts of illegal drugs into the u.s. and so we must see how this will impact h.s.b.c. because of course set a low a cartel was h.s.b.c.'s biggest single client accounting for billions in revenues over the years so we'll see i suppose they'll either get an overt bailout from the government or a stealth bailout from the government that's the way it goes states you've got to go thank you it could cause a whirlpool of dollars. all right stay tuned for the second half of all of more.

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equal rights. to the. lives. of the young girls can hold for the future harder. between two and three hundred million guns united states so you can act like they're not here and keep kids away from them. the pass' that is a law or you know i mean this teaches them a lot of for a responsibility to simply come to pay through the eyes of children if we can't do it for our children hope for our future what the country will save. right from the street. first street to live and i were being put.

on a reformist twitter. and instagram. to be a mole. on. one of the new poll shows camarillo i should be making news all the face i just i'm curious about. the pleasure to have you with us here on t.v. today i'm sure.

welcome back to the kaiser report imax keyser time now to turn to jan squirrel's of the real dot co dot u.k. jen welcome back to the kaiser report and very much sun shining oh my god it was fantastic finally now i've been reading with great interest on your blog you're talking about the latest and the greatest of five greatest gold robberies tells briefly about these heists and what lessons can we draw from them. i think number one is they work out very well i think about what i say you know i started well at ninety as i had to move around but it's been sold and it's very difficult to load and gold. my faith the top five go over the i enjoyed me for just kind of criminal heights not you know one of the government ones which was people commented on same but the best one with i think it's one thousand three. volts guys break and see

their warehouse that he thought they were going to get about three million in cash i think and instead we're faced with just tons and tons of gold that was actually destined for the car east and then they say they were trying to go to our house the veyron is scraping the floors they drive off under the weight of all of the code starting to refine and they would say proud of the thing that they pulled off that one of them even named his gold dog in the years afterwards brinks math i mean this is the kind of this very entertaining story from from the late nineteenth century but basically if you can buy gold store in a. solicitors think of loving the italian job with michael caine featured a gold robberies day basis and the little minis were scraping along yeah and it helps try to make off with all that gold so speaking of gold heists germany has not gotten all their gold back from new york apparently there's a heist going on and. would you add this to your list and what does fit into the

heist in terms of the sheer quantity and all of dad's. city well i think to be in a different place because i was there thank you before the show. kind of a bit of fun but i've courses that you can get a hold of the list at least five if not more of these kind of government or central bank robberies of gold is that the japanese going to be talking about you could look back at the nazis and he looked back at the new theft. in japan as they go ladies and we i cover that a lot but of course i mean to me one is just the volumes are unbelievable and i said you haven't covered it. i was talking about i mean they didn't have the similar volumes this is completely different and of course in this case unlike in the cases i've been talking about. we possibly know you might take the gold you know. wasn't quite so based in the criminal code talking about say there is not a hole at the level of maybe we should write another list and a lot of people even a lot of gold i mean according to ben bernanke the outgoing fed german it's just a collectible

a trinket that people might want or addition tradition yet it came to a thing called the barbarous relic so apparently people actually want gold well apparently. but of course i want gold and i think you know you in your view is one gold and then we'll go council figures that came out last year for last year they were released last week show that no matter what governments say or no matter what restrictions put on people still want to hold gold and particularly in china last year but look in india where restrictions put on what was really interesting by the local council figures was the first time in twelve years i think u.k. and u.s. demands go to go demand climbs particularly in the area of jewelry so people do you still want to hold gold and we can say there isn't a parallel way of gold demand on what's happening in the economy whether likely or in fashion that. you're associated janssen has a piece about china's gold what's happening in china right now is going up. they're saying that would indicate it's going well go down and it's just climbing

he released the figures. the moment the hotel and i think i think it was two hundred forty six times it was a record amount and this is when we will go counselor really think of going over there very me just say take an interest go to moan which is absolutely not the case if you look at the way the keys analyzes go to month in china and he does it in a much more methodical and he investigates much more deliveries on the shanghai gold exchange and actually trying to just go back in two thousand and eleven and not only really should be talking about gold demand in china but we should be looking at how they're developing the gold market as a whole from the supply on the demand side facilitating sales what's happening with exchanges here they're allowed to trade dominates exchanges and of course you know there's lots of discussions about what's happening with the. reserves and that's just a whole other. story in itself i think of china there's a lot of talk now telling us that they're going to announce that they've got not a thousand or two thousand but

a number considerably higher than that yeah i think you know i think if you look at what. academics have written on this we could be looking at. five thousand tonnes but so many people have done what it could be we don't know because we don't know about that mining figures that are happening and we can look at the hong kong imports and exports to china and we can look at ways we can calculate that but actually their own ports in which gold's been imported chinese are buying up mines all over the world say we don't really know how much the p.b.s. they have what we what we do know what we believe is that they have a lot more than the one thousand and forty nine times they reportedly have in the mainland right now gold is up ten percent. versus up thirteen percent so is this a result of the secular market going back ten years or are we out of the woods only out of the bull market pause is this a good. tell us. how to behave at the top i think in terms of

price i had someone described it was a really good way of describing the gold. it's not me to hold too cold we're going to take a step back a breath and just go right last year a bit tough and kind of. go through arco might divide it became polarized i think with the phrase of the world gold council series so huge e.t.f. demand out consumer demand if you really managed to kind of stop that being quite as horrific you know when the prices as it could have been and i think we've kind of shaken out those people that were that to speculate thinking now we've got the consumers in their queen demand looking amazing chinese demand so they can keep going as it is demand the west is getting more interest in gold so in terms of price i think i might be back on it if you move the thing from going out but at the moment i think it's going to be it's going to be a gentle climb up with that instead of the bull market i think we're going to back on that scale but i think the faith in the market is returning now one of the problems gold has of course is that mainstream media tends to look down on gold if

the price is down of course you'll see c n b c they'll have blaring headlines cool this down when the price of gold is. really the bubble bubble but it's all part of the model so there's a asymmetry in the way media reports gold now into this asymmetry you stand. her are jumping in with a crowd funding a t.v. show called get real really talked about last time you're here. crowdfunding platform start join this is the newest and greatest thing right if it's kickstarter indie go go twenty thirteen gone there yesterday as they see all day this is u.k. based proper crowd funding if you don't have to drink while you're actually crowds will be in pink yeah. so the project is called get real crowds on future episodes of people who already done a couple of episodes we have that we did i want on go and so we've been davies and

we didn't find my new testament christmas from the foreign investment right and the popular. already is quite high so this is the tell us about what people can expect on this a little bit i don't know if it's rio we'll be talking about say i was looking at we've had some great franco's and some great suggesting things from chinese porcelaine to. farmland well my personal favorite which we discussed before. we can was that this guy. had. said i mean really when they think. about it i go through a very narrow in oil and all these things but actually you know all this a really different real asset that people want to get their hands on and again when we're talking about gold them on climbing if we look at for instance chinese portion or jade i mean the demand for that in the last three years old. it's just it's just been unbelievable this is where people want to put their money and i think i don't think people realize how to go about the star thing or they don't know anything about these markets. that let me tell you different things we have no you know we're all good friends of jim rickards who wrote currency war and he's got

a new book coming out the death of money and he points to the art market and saying look people say that quantitative easing is causing inflation and other people say it's not causing any inflation but in the in an area like arc where you don't have futures contracts giving you the ability to suppress the prices like you do in gold and silver and in other areas the reflection of all that money is being captured by those prices of fine art that's absolutely skyrocketing through the roof yeah i mean every week it seems that there's another headline on record breaker kristie the scene of our cars collectible cars so just show get real things that are real in a sense whether it's fine art collectibles and bags etc they're really reflecting all this money printing but again the media doesn't want to cover because then they have to admit that there is really inflation and then they they would have to

recalculate their indexes and in the case of the u.k. government they would have to start paying out. pensions that they don't want to pay out same thing in the u.s. there's a real incentive to to lie to them. about the real inflation numbers so that your show get real but your crowdfunding is actually a way to kind of let people know what the real inflation numbers are they're not crazy don't realize really employees yeah this is really happening you know maybe the numbers are climbing and i'm actually a very good point and this is a true reflection of what's happening in the money she thinks them then you're being offered whether it can react to you by the official government figures you know there's nothing fee head fake there's no inflation it's a worry but meanwhile we just talk about they see me i did a. piece of this is climbed in price the price of bacon to scare me off when i feel like i'm going to suddenly make it pretty sad really very little incidents in canada of the entire country lives on big and hockey pucks this is you know you think of anyone else mark carney he's out there every morning at six thirty am with

a plan a bacon canadian bacon a good chuckle horse. with me i didn't know that so let's talk about the course being crowd funded and you're going right to the audience not only are they giving up five pounds or ten pounds for participate in funding this and maybe getting a premium or a reward of some type great rewards by. any handbags or shoes not yet i'm hoping that's my reward. fair enough. they are also suggesting topics yes they want to cover so tell us what the public with their what their hankering for free to cover on your new show get real. ones i just mention we have no suggestions about chinese porcelain find point kind of tough because another. thing that i mean i think i may be doing if you let me drive on your car here that would be a perfect start to show i think driving across tower bridge there's a show that jerry seinfeld comedians in cars going to have coffee this could be

part of the rewards to. we're in a car with chance coils driving crossed our heads yeah drinking tea yet for twenty pounds would you drink tea in a convertible and go across tower bridge but you shouldn't drink and drive they may think well that's a good caviar to make here in this country is that it seems like the national pastime is in fact drinking and generally to. get real project the site is start telling dot com a crowd funding platform i started just a few days ago to fill this critical need for honest media i think is a great idea and i'm really excited to get really it's one of the first projects i got to go thanks for your time this is. all right that's going to do it for this is an episode of the kaiser report with me max kaiser and stacy herbert like to thank our guests chance coils of the real asset dot co dot uk a and coming soon the smash t.v. show get real if you'd like to get in touch tweet us

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transit routes of the new people report your best way to the heart of mosco. ukraine's divide people in the country's east are refusing to recognize the new leadership meanwhile the e.u. is promising to throw the former opposition a financial lifeline however. the real path into the e.u. it's not going to be the german path it'll be the greek. experts warned the help from brussels and the international monetary fund may be too painful for ukraine to handle. and washington pushes for thousands of troops to remain in afghanistan after this year's withdrawal deadline passes as security deal with kabul hangs in the air. band britain's muslim communities raise the alarm over the are legion be used as a scapegoat bias the worries of their anti.