i'm. happy. that i actually bothered. congress to put the show which is inflation the way they did not to the president nor are very happy about we were clear that we didn't think it was going to be helping. the u.s. secretary of state rex tillerson says both he and donald trump are unhappy about new anti russia sanctions but respect the decision of congress. french government is to open to new migrant centers near the port city of cali this comes less than a year to the infamous jungle camp was cleared. and three members of an a tory a street gang have been killed in a shootout with police at a mosque

a region courthouse. style with more on today's top stories that stick around as max guys and stacy have a look at whether the american dream has moved to mexico in china that's next on the kaiser report. i am asked as or this is the kaiser report here a fabulous freedom fest in las vegas. you know. there's a concept we've talked about it it's called moral hazard you let the central bankers and their minions of the big banks get away with little crimes here and there thinking that well the economy is going to benefit the long run just let us live well trickle down moral hazard is corrupting every facet of our lives in america. yes max continuing with this theme of freedom is

not meant for much freedom happening in america not only do we have those of wealth and income gap and the declining life expectancy and all that sort of stuff but we have this gross problem of civil asset forfeiture this is a story that is not getting much attention because the american media is obsessed with him but in the real world that affects the average voter we have the shocking story over the past week and that is just in o.j. a new asset forfeiture policy police can seize property from people charged with crime even in states where it's been banned that was a tweet from c.b.s. here's another tweet from the washington post and they say jeff sessions wants police to take more cash from american citizens now remember the republicans had

campaigned on a policy of saying we're going to end this sort of grotesque policy because you know the police and america and this is just the federal police and federal officials they take more cash from americans than burglars do right is sanctioned theft by the government jeff sessions is given the green light for this type of highway robbery all across america and this is why different groups that have become quite visible recently are important think about black lives now. for example or occupy wall street these are groups that were considered fringe groups or against the ito's of some kind of prevailing american psychology however they are the canaries in the coal mine black populations trying to be extinguished by the white population or occupy wall street is trying to highlight the fact that jamie diamond is

a fricken terrorist this is leading him to sanction attorney general green police asset seizures for the sole purpose of stealing wealth from middle class americans and putting it into the pockets of drug runners drug doers gun runners and drug lords etc etc well ok here is a few to fess justin amash here is here he's a congressman who didn't speak out loudly about this he was trying to call attention to the fact that jeff sessions is is increasing so right now it's only thirteen states and the united states said allow police to seize your assets your cash or your property even if you haven't been convicted of a crime so only thirteen states allow that jeff sessions is overriding that say all fifty states can't the police can seize any of your stuff just based on suspicion and if their budget is short in places like texas you know something like thirty

forty percent of the budgets of many police departments are actually met by seizing assets from the population he says this is what jeff sessions said we hope to issue this week a new directive on asset forfeiture especially for drug traffickers remember the policy started out it was just for drug traffickers now it's especially for drug traffickers that's who we're targeting and yet almost all of the people they seize assets from of the billions and billions of dollars per year billions over six billion just from the federal police so most of that is not actually dry. traffic or is this just people ordinary people. many said with care and professionalism we plan to develop policies to increase forfeitures no criminals should be allowed to keep the proceeds of their crime adopted for futures are appropriate as is sharing with our partners adoptive forfeitures means that it's now nationwide just strewn the general is a duplicitous. i mean think about it this way wells fargo. simply

stole people money out of their account millions of accounts stolen stolen stolen stole sessions nobody wells fargo bought wachovia be a lot of billions from mexican drug cartels thanks to the previous attorney general where is jeff sessions on that why isn't he going after the funding of the of the of the fine of the of the of the drug lords sessions this is a clear a b c. line of thought there's no equivocation here there's no doubt that sessions his policy is promoting drug lords well also just sessions is famously a racist and has had a recent background and that a lot of the races get around by saying of states' rights overriding states who don't want you know here's you have thirty seven states who don't want the police to be able to seize your property saying forget that i'm overriding your state's

rights and where it's going to impose the will of the federal government and my racist policies my sick policies my twisted policies on you this is also the reason why people are going for things like more narrow i know you're going to be interviewing that the guy behind one arrow in the second half cryptocurrency is to provide you a little bit of safety in these age of x. civil asset forfeiture where they could just take your stuff without any conviction but look sessions is clearly supporting drug trafficking gun running and use of an apology certainly eric holder did eric holder was an apologist for terrorism on their barack. they were apologist for terrorism jamie diamond you know i still have a mere this is jamie diamond as alien remember the scene an alien is going to waver . from day. a. jamie diamond pops out and destroys everybody on the ship. ok this is what this

guy jeff sessions the racist attorney general should be concerned about not fricken tell of cops to steal people's money jeff wake up so of course this next headline i'm reading in light of the headlines that we've just covered of the civil asset forfeiture the american dream appears to be more attainable in mexico and china and monday of two weeks ago pew research center released a report showing the american middle class is shrinking while thriving in other european countries recent research shows that young homeowners and china and mexico have the u.s. beat report from h.s.b.c. speaking of drug running it's found that seventy percent of millennial is in china and forty six percent of mexican own a home versus thirty five percent of young adults in the u.s. young people in china are benefiting from wage growth that is projected to outpace the rate of home price appreciation set last year and the u.s.

doesn't just fall behind china and france and other european countries so in now it could have something to do with the fact that. you know the government here wants to seize your stuff if you even have any money to put down on the positive on the property of the government is out of control and it is becoming very soviet union like in this in this regard whether it's the affordable care act which is a tax which still is thousands of dollars out of people's pockets whether it's the cops that are now been sanctioned sanctioned still people's money and then ongoing high taxes of course that's always been a an issue in places like mexico where they've been through a huge economic stress on the the new generation the millennial is of mexico actually a lot freer there can afford houses we were just in mexico city it's like america in the fifty's and sixty's and america is becoming like the soviet union in the one nine hundred fifty s. and sixty's those two ships passing in the night. you got the soviet union mexico

these countries or china are now going toward freedom going toward to an enlightened twenty first century and america's going back to retroactive you know going back to reactionary neo con warmongering sylvia like nonsense and and this is why we like going to mexico city not only are the tacos fantastic i shower in mexico. who. give course back in the eighty's when i last lived here the early ninety's you know the thing used to be if i don't drive your car across the mexican border don't try it down there because the police there were so corrupt they were just like take your car and just mansell and send you away and arrest you if you complained so. it's now the canadian government for example warns their own citizens against going to the u.s. because they might they said that if you drive your own car there and you have any cash in your car there's a good chance the police might take that cash from you now australia of course is

there's a huge shock there that they're citizen was assassinated by a police officer in minneapolis after she called the police for help and they just shot her dead for no reason like um for bogart a treasure of sierra madre you know and they got all the gold and they get stopped along the way by the banditos bogart's those were your badges is bose's. right this has become america that's like route sixty six you got a route sixty six is bandidos dressed up like american cops are using your money stick and marijuana supply stories up as frank frank place is becoming a nightmare and so finally there's a quick headline here a damning new i.m.f. report cold water on the entire agenda so the fact that cutting all this health care i know they see a. fordable care act and b r c a the other stupid care thing they're both shakedowns for the likes of us having to hand over money that doesn't give us any things. back to the health insurance companies but there was an expansion of

medicaid which is free government health care for many millions of americans that would be taken away by echoing the ongoing debate about the death of the american dream of improving living standards the i.m.f. said that prospects for upward mobility are waning in the united states and the poverty rate at thirteen point five percent is one of the highest among advanced economies again but you tune into the cable news here they don't talk about this they're not addressing this these are the issues that matter to the american voters you don't ever hear it you have to come to festivals like this or tune into the kaiser report no think mcdonald's should get into the euthanasia business so you go there for a big mac and they'll put you to sleep as well as you all for five ninety nine just trying kentucky fried chicken doesn't offer euthanasia going to mcdonald's. take a break but stay right there don't go away much more coming your way.

much as you see it on your fully get you to talk a little. sun only a shot i am being that does not allow them to just tell you the outside of the knock on the can. by then coffee for sure they're not getting. by then you should shift them on. not having served in the morning. so there's only. so it. can be no surprise was abeokuta multiple injuries among current america so don't cook yourself you will see the look of the show's real year mars on the phone to the book and if you can book a complete pull social services say yes but i don't know if there's

a book in the us and what a month. hanumant it is nothing of. a flood me as you somethin that was. done long enough something not set it. aside and lived in huddles look ma that's what up to now maybe i meant in comedy for the. show it's the same wrong but old rules just don't hold. any new world at least yet to shape our disdain comes to the ticket and in again from an equals

betrayal. when so many find themselves worlds apart we choose to look for common ground. welcome back to the kaiser report on i'm max keiser time to go to ricardo spanier of the narrow riccardo well thank you also known as fluffy pony yes ok so little background so narrow is a calling it's an altar calling is trained in twenty fourteen and it tells a lot more about it so what why didn't you create it and what is it did that claim doesn't talk a little bit. it wasn't created by me that's a misconception that

a lot of people have it was created and launched by a guy called thankful for today we don't know who he really is real identity is and he launched it basically as a relaunch of the kryptonite protocol and krypton no it's is an alternative protocol to but coins protocol and it has a couple of differences for example. sort of tries to focus very much on privacy and on being a pro privacy project or protocol and it also has a dynamic block size so that speaks a lot to the skating debate that we just had where we're still having. initiated just thought of this as a sphere read launch. open reno inch of the crypt our protocol wasn't as special except for being first out the gate and thankful for today ended up being a gigantic douche bag which. really was

a terrible idea why quantify that ok so there was a sort of fairly large community of the formed around there right at the beginning yeah and thankful for today wanted to play the role of being a dictator and the community pushed back and said no thank you she didn't like that he wasn't. then run with his ideas that the community rejected and myself and six other people for a way from him and we became stewards of an old point that we didn't go into that we didn't want that's for king crazy i know right but you're talking a lot of a lot of stuff there let's back up to the truck here for a second so the launch as you said it's crypto now and it's a fairer distribution upon launch yeah. so this is this is gets addresses the issue with bitcoin the early adopters afford it huge stashes of bitcoin and then the later commerce felt. right so how does a well i mean there were

a couple of ways for example he pre-announced us and gave people thank you time to spin up my nose and also there was not a sick mind then so does all just mobile c.p.u. mining so anyone with a computer on day one could buy it i spun up like a bunch of. lies as a mind on that and i know people don't mind computers and computers mosul's so this initial distribution was markedly different because it was in the community that was already hyped up about old coins and it was to a technical community that knew how to mind and sort of having this one c.p.u. one mining engineer made things a lot easier there was no pulling. the arms race that came with bitcoin has been avoided yeah and so now you have the miners and big coin they become very powerful you know they be a lot eventually this history of the of the role of the founder trying to dictatorship a lot of ways i mean we see this in the mining community in bitcoin they're taking

on a role that some characterize as being and and and and to seem to the spirit of the decentralization of. the different the. conditions city avoid that i mean avoiding minus into those asian is a hard problem agenda and you ought. one that was constantly trying to tackle him for go way around but at least at the beginning there was no mind to how many people are working on development so we've had over two hundred forty contributors to the mirror project overall over the past three years and we have an active contributor base of about fifty people. and that's growing on a monthly basis and as a scaling i mean i think that any scaling issues so we've had scathing issues. may never actually scales worse in the court. because actions are physically larger but because you've got the stomach block limits that means that we don't have to go about increasing the block size or anything like that but at the same time we're

critically aware of the fact that scaling is worse so the block limits what kind of like a rolling protocol that takes into account the supply and demand and expands of tracks accordingly i salute you and your friends and all my patents but i'm going to say it now unfortunately it's not an owner anymore but yeah otherwise i'd be a dictator to rise but you're doing of course some an arrow is to get to the heart of the matter here is the purpose of it is to be more privacy oriented correct and you do compete with z. cash i believe as your primary kind of competitor i was i would say so yeah ok so can you comment on the need for that what role does not play and what's the cash i compare i think competition in general is good and consumer choice is good. this thing was a privacy appropriate as the project or approach. is that it has to tend towards a monopoly because you want to as a user get lost in a sea of transactions and there's a sea of transactions are small then you know getting lost in anything so naturally

there is a tendency for users to pick what the privacy court and that is has the largest user base which currently is mirrored. apart from the sort of difference in size of the user base in the country the base i think one of the biggest things is that c cash is. it was started in this county operated by a company and to me that's the antithesis of what you want when you speaking about addition tries to project or decent trust particle you don't want an attacker to have a single point that they can attack the corporate entity provides a vulnerability i think das is also they've also veered towards out there it is a more of a corporate structure which is sad because i think it points to a lack of familiarity with open source open source projects have developed in this unstructured. crazy like misstep way over the past whatever

to their journey giving a quick tench yeah i mean stephen baldwin in r.v. traveling around america visiting under serviced communities from the mainstream media to talk to them get their views on what's happening in america and to preach cryptocurrency is the narrow are you on board is a sponsor. it's a lot of the project we have no money so what we can cover here is the guess. what we have a crowd funding system yeah i mean we could be glad to confound and if the community thought it was beneficial they would buy the towards that we have dave tax pretty mind anything like that that we could use as a single into these do say this i have to go crowdfunding what that's about all right else get back to the the matter in hand so. we showed a clip of peter schiff in which he argued that crypto currency is are a scam because an infinite number of coins and tokens can be traded your thoughts i

mean that infinite number of folks and projects and be graded but i mean there's an insurance money to go around and i don't think it's fair to categorize them and say oh because an infinite number of projects and be created and each of them individually could create a certain number of koreans that by definition they're a scab i mean it's the very nature of open source projects that you can focus and so one could argue that linus is a scam because an infinite number of bytes distributions could be created by linus doesn't. purport to be money no you're right ok so do i it is again let me answer him and give you my answer any more thought on this ok he's a big old proponent gold is money there's only one gold but there's also silver platter adam brody m. and then there's also diamonds rubies and emeralds there's also been days medically ani's because of it and it scares a lot of scare stuff that people value in the hundreds of billions of trillions of dollars in bitcoin there is the mother currency bitcoin it's part of

a sixty seventy eighty ninety trillion sorry billion dollar currency market against a multi hundred trillion dollar pool of derivatives that are worthless so this even if there's five hundred kryptos and you know it's against five hundred trillion dollars it's a nonsense so there's there's room for all that just like there room in the gold in all these other assets that they're scarce assets it is argument doesn't hold any water whatsoever it's nonsense as he would say well i mean i would i would also argue what happens if we discover a comet that we can all ask for that we can extract gold from and also gold mining last year was off and crypto mining a big one is down because it's it's the protocol diminishes the coin release over time gold mining is actually up so that his argument is is fallacious it is or we're not going to discover new big questions we're going to suddenly go we discovered ten million new because in nevada right all right you're

a smart guy so we got to keep you on the smart topics or not go down my digressions the darkness alpha-beta shut down recently the guy who allegedly ran it committed suicide in thailand. the us feds were seeking his extradition were unable to determine how much. he held ok this is i'm an arrow touches on an arrow story what's going on there but i have no idea i have no idea i mean obviously kind of interesting because they never came to us as a community and said oh hey. we want to go to overbet i woke up one day and they were like we're reading monroe to overbet you know the nonsense we were like ok so so we haven't really we never really interacted with him i once interacted with one of the supports often office that's on the never usage and they've already got them so right i mean we asked jeff sessions you know he's cracking down on he's allowing for illegal asset forfeiture in america but does nothing about wells fargo

stealing people's money yeah right i mean in the crypto is denied facilitate anything that fia money is not already facilitating it's a completely correct argument only thing it does it provides a level of privacy that as americans here train them fast you would think that would be of paramount importance yeah what's the future from an era what's going on in an aside from you doing your crowd funding for my next t.v. project what was happening in the narrow the next you know going forward what's your role in the narrow what do you what do you i'm i'm the leader so basically the community said to me we've reviewed these pull requests i go review them myself as well and then i merge pull requests i do like how to serve all. over the nic i bet i'm if i'm the law and because i'm that sort of role say so and so yeah i mean mike what's really nice and what your background ok so i'm my background is i worked as a developer for many many years eventually started my own company and discovered bit coin in twenty eleven when that company from watching my show what fortune in

office what sorry. what about the pre-interview what's going on oh we were running out of time. we have a three minutes so moving right along. we talked about the kryptonite proof of work algorithm which is an ordinary c.p.u. you know i am fascinated that in countries like russia for example people are mining on their home computers and making fifteen hundred dollars a month with us double the national average doesn't what we should this have achieved. impact on people's standard of living all over the world as it should the problem is i think it's a lack of awareness and education there's also african company i met with a little while ago they are installing solar panels of companies and to offset the cost of installing a solar panel they use the service in the evening when it's not doing any work to mine but there are and then they sell them and. that sort of the cost of of the hobbit they've been sold to the physical panels and so companies are starting to

love this but there's a lack of awareness and i guess when that awareness kicks in eventually it will become the common thing yeah. i think that's a very interesting point is that the integration of some of these hardware projects like a solar project with a crypto current say with a mobile phone that people have and you're creating your reinventing the global economy in a huge way you know you look at gutenberg press you know killed the catholic church more or less and it looks like the currency is going to kill the nation state as we know it it's a flag of us currency so narrow. it's it's a coin it's an old coin the whole universe is expanding think you have to take a portfolio approach of owning the top ten currencies in the space to get good exposure but anyway thanks me on the kaiser report thank you so much all right coffee tony well that's going to do it for this edition of the times report with me max kaiser and stacy herbert like to thank our guests ricardo spun yeah narrow if you want to reach us on twitter it's kaiser report until next time by all.

live . live plenty.