helen's he clearly. max kaiser this is the kaiser report one is a monopoly not a been up place certainly of play monopoly who want to be awfully still active are there any rules against it should we be a wherry of monopolies forming who's on what side of this debate who should care we'll start today's. actually while we've been here in nevada o.j. simpson was released parole and you talked about monopoly not monopoly and things i think of the monopoly game and somebody came up with that idea i think it was you actually to come up with jail coin that o.j. simpson jail and that's a get out of jail free card to matter what despicable act you may have got he

should work with eric holder maybe get you know a deferred prosecution coin deferred prosecution token sort of thing well yeah my idea was o.j. simpson should launch an ice you know called juice coin so distant to mediate murder and homicide and larceny that kind of a play on that juice going basically for those outside of america who don't know or who are too young to remember o.j. simpson he was called the juice that was his nickname anyway. you know here you're talking about monopoly but i want to talk you know this is a theme we've been focusing on is that these monopolies and all of these and oligarchs here in america that are kind of keeping the wages down making america not so great again and how do we bust up these monopolies and anti-trust actions when we don't have a teddy roosevelt one you had said you hope that trump could be the sort of person but there's no indication that he's going to be that sort of person because of the people he's appointing and we're going to get into those headlines but on the other

side the democrats are not. they don't care about that monopolies developing because mostly it's in silicon valley right now these days and intellectual property and patents and copyright that is really where a lot of the most onerous monopolies are happening and those are big supporters of the democrats so i want to look at one tweet that i saw from a german finance guy and this is while we've been here as well this is a headline that fits in with this this reality of a world where we have monopolies ruling everything wealth for all global stocks gained another one point six trillion dollars this week equities now worth seventy six point nine trillion highest in history equals to one hundred two percent of world g.d.p. so you see the stock markets keep on soaring and soaring and soaring they love these monopolies they love this sort of situation but monopoly by definition means

monopoly pricing and monopoly pricing by definition means competitive pricing there's and by definition means an economy that's been given over to or monopolist oleg uplift and price gougers in american health care industry because you can't import health care from china it's all very local you have the case of gouging and price gouging by monopolists in america and as a result people's houses declining life expectancy is falling childbirth deaths increasing because of these monopolies and the lack of competition so there's a very insidious dangerous condition fuel by the cheap money that is coming out of the federal reserve bank who answers to no one but the monopolists their job is not to according to the twin mandate price stability and employment they're not serving those mandates whatsoever they're only serving one god the god of monopoly pricing

and we're going to talk about one particular. yes we're going to talk about the case but you know you mentioned that the federal reserve bank has a monopoly on basically setting interest rates and d.m.a. what is a legitimate currency i know you talk in the second half of charlie he does mention that having these individual currencies and crypto currency and i.c.a.o. is in that thing has broken off that sort of monopoly and allowed this sort of wealth and job creation. trump said he was looking for but here is one of the monopoly positions that trump it seems unlikely that he's going to break this up have any concern about it nor will the democrats to save rural iowa we must oppose monsanto bare merger iowa farmers face a crisis crop prices have fallen by more than fifty percent since two thousand and thirteen with no end in sight at the same time farmers hold more debt and possess

fewer capital reserves to fall back on in fact farmers debt levels are almost as high as they were prior to the farm crisis of the mid one nine hundred eighty s. meanwhile we have seen in these all these a megamergers happening between agricultural giants and if approved the proposed merger would result in just two companies in the agricultural space monsanto bear and dow dupont controlling three quarters of the u.s. corn seed market hey there's peter schiff right behind. that's right you guys are sure i am going to tell you. we're going to come times you get a lot of flak from the cryptocurrency is always you know something else carol the. defending gold against a crypto of the during the entire freedom fest you know they're all accused of cutting inside a shill for the global soros yes. george soros. i read that somewhere to play

with insider died and i was not a part of these that was. the. over all these years ago i've been waiting for this moment we're going to come and talk to you in a few minutes you all and if you don't mind. talking we're going to ask you how would you travel around the camera yeah all right well no matter who you know we have the full beard to be coming up like a half hours so i will be all right in a few moments right here thank you piers schiff leisure gentlemen better ship. all right well so but i wanted to say you know here so you're going to have only two two giant companies dow dupont to monsanto bear controlling three quarters of the seed market farmers are already being squeezed however the price of corn seed you mentioned price of prices go up with monopolies the price of corn seed has more than doubled in the past ten years from fifty dollars fifty one dollars per acre in two thousand and six to one hundred two dollars and twenty fifteen so their prices have prices have doubled their profits have plummeted by fifty percent remember

farm aid yeah willie nelson yeah yeah and then willie nelson need to. do that it's a cycle now well i mean there's an enormous amount of information there but you've got monsanto and bear going to merge potentially and it would undermine the dynamism and competition in the food business american farmers are being destroyed and this is something that anyone who would be supportive of jobs in america or competition in america or american values certainly the cornbelt of american farmers don't get more american than that and yet no one is stepping in to stop this merger and it gives months out of power to be part of this monopolist bear monson so combination and remember on the geo political front on a global basis the number one issue that is dividing ukraine and causing tension with russia is that russia is against genetically modified

organisms g.m.o. in russia monsanto with victoria new. and her husband is a lobbyist for monsanto states who in ukraine it's all about their rich farmland ukraine is to that area of the world what kansas is to america it's the bread basket of central europe social euro eurasia and so there's a big battle who's waging this battle fricken months out there and you know he's doing battle of intimate domestic and foreign enemies yet to mistook him for enemies whereas the cia or the n.s.a. where is the f.b.i. these people are acting against ukraine are entirely right behind you know you know i mean that's the thing is also with everything so. algorithms and the fact that men santo and bear and du pont all these guys no two is second in exactly where all their seeds are they know exactly what your profit is to the penny and they can make sure it like in this sort of big economy that these farmers only eke out the

littlest of existence any time prices might go up and their profits might be rising like grab it and like increase their seed costs or whatever that because they have the monopoly pricing and they can grab they're not going to want you to be successful and independent and basically any all futile sort of model right the same when banking they manipulate lie bore yeah yes gold and algorithmic trading high frequency trading they do in the agricultural market with patented seeds and control of the monopolization of that industry to kill the competition literally in this instance and to become this monopoly pricing gouging pricing so the americans get the worst of all possible worlds price gouging on food here domestically with these without lists of jobs being shipped over to asia because of again monopolists and you have local health care price gougers like the insurance companies and pharmaceutical companies taking prices way beyond any conceivable rate of inflation

that would be commensurate with the business model and you end up with. disenfranchised americans disenfranchised americans you know no taxation without representation where were they up before you know let's just take these guys down you know we've got the manpower i'm sorry. i'm getting caught up in the spear so. whether or not trump will become the teddy roosevelt that you had hoped perhaps he might this seems unlikely if you look at this headline how trump's pick for top antitrust cops may shape competition the same as. dollar he said renie an american here is he however is a lawyer who used to work at the department of justice he was out also however a corporate lawyer and a lobbyist for that he was a lobbyist for amazon he was a lobbyist or or lawyer for google comcast johnson and johnson blue cross blue shield and he however is most interested if he gets the job in going after

europeans who are fining american companies like google on antitrust then he thinks this is unfair to american corporations and the article points out that he emphasized that antitrust is intended to support free markets and that the government should intervene only when necessary a monopoly is perfectly legal he says until it it views is its monopoly power so he says a monopoly is perfectly legal unless it abuses its monopoly power looking at the dictionary definition of monopoly monopoly by definition is abuse of the market that's what a monopoly means it's market abuse and to claim that it's like bill clinton said it depends on what your definition of is is being obtuse these being solid cystic these manipulating the public discourse to further

a monopolist in a way let me tell you this guy's anti-american. in no uncertain terms and i mean this should be pursued on those grounds and taken into a court of law is that really turned into could case always here everybody has the jury everybody's out in trees and helpless who are putting farmers out of business or destroying competition in america abusing the english language to further their air to further their own nests these people are tyrants these people should be dealt with any way any possible way you've been watching too much american change lose because actually every day says everybody. everybody is a trader here i asked three a rope. anyway we only have twenty seconds left so i want to say you know here in this with there's no freedom is now making america great again without busting up these monopolies and all of our police and all around america at the moment well said well we got to go to the second half after this break don't go away stay with us it's all good yes.

but a war still you on the idea that dropping bombs brings police to the chicken hawks forcing you to fight the battles we're going. to do socks for the tell you that will be gossip the template for. all of my advertising tell me you are not cool enough to buy your product. i'll go for a week on the border with one. you can see the border from here where the. steel fence on this side goes all the way down. like i said this is this is. and this is all. you have every right to

be here have a right to call collect my food be a part of my family on both sides of the border. play started an organization called the arizona border recall we are a standalone entity. that is doing. what these to be done in the five years it's getting worse while it's is escalating because it's. really good are great when somebody calls you know they believe you to their ranch is there are areas and they don't believe their federal go is taking responsibility for their security which we would for anywhere else.

either welcome back to the kaiser report i'm max kaiser time now to turn to charlie sharam. crypto legend charlie welcome back it's good to see you have great to check in with you from time to time you're like an elder statesman a little space i love it did you like the godfather i get people right there white papers by hand and mail them to me. but i think about white papers all right because it leads to my first question about initial calling offering yeah of course an initial point offering relatively new phenomenon in the space and it starts off with a white paper people read the white paper the nice website the nice website they can buy into the coin before it is opened up before traded actively exciter but let's talk about the initial point offerings we heard from peter schiff here at

freedom fest he says the fact that so many coins in tokens can be created means that crypto currencies can't be a store of value your thoughts on the end of the day it's what what's the point of this token and have all these different tokens of do different things and at the end of the day you know the value is what we all agree on most of these new tokens they're not really meant to be stories of when it was meant to be anything in fact one of them like it says right there on the main website this token has no value this token is not a security token does not access our website is talking is literally for us to raise funds from you and that's right so you're referring to a paragraph in the ios description that says quite plainly this what you're buying here gives you no rights no equity it's worth nothing there's no guarantee it'll ever have any value the purpose of this disclaimer is to make them exempt from all securities laws they hope so but people buy into it anyway because it's a wink and

a nod they say ah yeah i know you have to put that in because you're trying to bypass the existing you know all cox like a duck if it acts like a duck it's. probably a doc i have i have spent many awoken nights pondering the scientific situation of the i.c.a.o. and i've come up with what i call is the the scientific word to use foma fear of missing out but that's all this is is is that we tell your friends to buy this token everyone's buying i have tokens that people are meant to me that haven't even gone on sale yet they're still in pre-sale and they're not even transferable that people are straining to lend oneself twenty five cents and then they then they pre-sell change the price to a dollar and all these people want twenty five cents are now selling at a seventy five cents and what are they treating they're treating nothing but a psych in a real estate market when it gets to frothy people are trading the the properties before moving in or it's the market that i mean is this is characteristic signs of a bubble thing aside the fact of whether cryptocurrency has value or not this in this particular instance with i.c.l.

as as you describe it it has characteristics of a bubble are we in a bubble. it's hard i think that all these these crypto currencies work and bubble and bear cycles so goes up and down up and down where we are on the bubble cycle right now i don't know i hope it continues to go up but i also tell people take your profits because as we saw over the syrian last week to go from four hundred dollars to one fifty within a few days people who you know people get records people get they get hurt so if you made money double your money triple your money don't get greedy take your profits and walk away but again it comes that's the foam at the end of the day these things are really cool and all you need all we need is one successful one to come out of all of these bad ones and that will really like change the game here and it's going to take a lot of like really bad ones in order for us to get to that good one and people will go to jail we're going to lose their money going to lose their houses they're going to see it all over again it's going to look bad you're going to see on the news they're like bashing it will go blah but at the end of the day over time this

is a phenomenal technology and something good will come out of the just like we saw the coin was was tape. through the through the trash for years they made fun of us and finally now the corner is getting a little bit of the attention it deserves of actually until it ok you mentioned going to jail ok so charlie you've been to jail in prison yeah not the lucky called a few. things going felon going back to bit instant you know or the very first companies that got involved in the space and a lot of people believe that it was a showcase case where the the the that they wanted to be an example made because the crypto is a very threatening technology to the status quo sure and a lot of people see your case as being kind of emblematic of an overzealous reaction from the from the banking system but my my my question is you've been down this road and when people start to do a wink and a nod and say the feds don't take him seriously

a year miss you have got to be in maybe a little different rights and this is what i tell people in any other industry you can break things and like ask for forgiveness later you can break things and then try to to make it better increase in finance you can't do that because you're talking about people's money so i would feel like finance and health care are the two industries that you can't really great things i mean that to say i want to disrupt and break and try to play around and i got in trouble i made mistakes in this industry there's no gray area there's only black or white however the government takes their time they won't come after you they're not reactionary like we think they're watching they're in the background they probably have people here they will be watching us right now they're always there and they're watching and then what they do is they'll pick someone will investigate that person and they want to make a big hit and one of these arceo guys it could be three years down the road it's not going to happen immediately that's how the government works so we think that oh i raise one hundred million dollars i got away with it six months later all good

life is good doesn't mean that they're not going to come out for you this selective big. in the i worked on wall street and the macho there was break laws all day long you know will you going to change the law someone has all the someone else is breaking more laws than you think you're ok jamie dimon is broken many laws he's committed many frauds but he's a friend of the regulators they consider him to be systemically important as we saw during the h.s.b.c. money laundering drug money laundering the p.i.a.'s in switzerland and the bank of and the clearing corporation there they have a list of banks that are exempt from prosecution and her prosecution no i.c.a.o. is on that list it's true they they went winfrey beauregard got fired some people in his office started talking and i heard this actually on the radio the other day and this was really this is really piss me off because i went down the criminal justice system but what they said was that. the f.c.c.

sees these morgan stanley bankers as good guys they're good guys who made a mistake we're not going to prosecute good guys because these these f.c.c. prosecutors these. federal prosecutors they're playing tennis with morgan stanley and goldman sachs guys after work every day they're good guys they're my friends oh these big kids they're the bad guys that's what it comes down to that's not fair it's not a conspiracy where you're standing there going you stating is the player to play favorites and these are some of these banks have whittled away into the system a systemically vital that they're beyond prosecution and john titus as if it's something on the other side all the plaza peter jump to the other side or soon as my case is over he's now a criminal defense lawyer ok so when i tell her you've got to reinvent yourself and you're done a lot of the space and you are promoting crypto and it's something that is near and dear to your heart and of course and it's a revolutionary technology and. well i guess i know we might not have time actually

to talk about what you're doing next i want to talk with other things pretty importantly. that all the i.c.a.o. is were talking about i.c.'s are done on a theory. how does the theory of fit into the crypto universe it's a higher price. higher ether price even something that fits into the i'm not sure what that says it all but how does fit into the cup the universe the ether is so as big as more of like a store of value settlement type of situation more about wire transfers and keeping money in your account assyrian was built as big as grid that lets to a crypto currency platform where other people can create their own tokens on the platform easiest one to three and they made it really easy as easy as possible a series a lot of the attack vectors it's there even the other day there was the parody while it wasn't you know one of the founders of the theorem gavin wood there was a big issue and like one hundred fifty million dollars was initially lost but they're able to recover like hundred twenty million dollars ship breaks because as

you add more code you add more attack vectors you have the ability for attackers to punch holes in your and your bubble or whatever it gets crusty it gets cross-examined crafty bad code the corners a very small code base it doesn't it does one thing and it does one thing great so even adding any new code to because because the rigorous rigorous crigger is testing so three m. is really cool we need a smart contract platform but there are a lot of better ones now there are lot of better ones that do smart to contract tokens better than syria but if syria has something that all these other ones don't market share all these exchanges if you want if you want a token the key to your token success is liquidity people trading it and if you want to get your token listen on plone x. or big trucks a crack in orbitz the next for them to add a new token and syrian token take some five minutes if you want to launch a token on it shares it take some weeks of development work because they've done it already for theory and i thirty makes it easy for copy and pastes turn up ok so you

mentioned there in terms of the big coin code it is tight it's. but we editions are easier to make now of course today brings us to the scaling debate now so where are we in this in this little of palliative spend a breakthrough some argue it's not as clean cut as others suggest where are we on the scaling debate going charlie i'm a free market person i believe that markets are markets are efficient when we allow them to be but they're not optimal they're out there it's it's not going to be as fast as human beings we want it to be we want instant gratification we want things done now so yes the scaling debate took two years however how many bad solutions came and went how many how many things happened that kind of a family or a need for scale scaling need what is it because it is a big one is growing and because it is growing to a point where we need the ability to have more transactions when it's arrival the

visa or master card network when its rival swift we need to scale the right way the other side of the coin says now that's not really you get to keep it as a store of value and you know your time ok round to even a store of value folks think that we need to scale what they think that is to be scaled in a different way so here we have a market created compromise and as we saw the other day it passed with over ninety percent consensus what are we seeing any you know senator congress that have been able to do something with ninety percent consensus it's almost never this took a long time yes but it takes a while to get a perfect market solution i think this is one of the most bullish things that could ever happen to be quite what some bad actor came along with five hundred billion dollars and said hey i want to change because it to suit my needs a lot of money you could influence a lot of people but as we saw a lot of people are doing that craig right all these different companies and and unlimited zones they tried to influence because of their own way but the market

didn't allow them to do it and the market created the perfectly prize and it passed everyone got together and that's what i see here is like this was this was like perf. governance this well isn't it. isn't just game theory succeed again it's game theory will always succeed in the end and it's perfect market clearing the nasty equilibrium in this case was the current iteration yeah this is not one of the that's why i so i've always felt that if you just think of this is a giant game theory experiment it'll ols work out fine that's what it is you don't need to get too deep into the tax debate and such i've said it on your show a million times big coin is one of the largest social economic experiments we've ever had in the history of the world and this is not solidifies that argument this is if anything if peter should concede the point is now no value blah blah blah but there is a huge value in being able to study one of the largest social economic experiments and a history of human kind of got a cut out there thanks man the cause report. that's going to do it for this edition

of the kaiser report with me max kaiser is their server logs on our guest charlie shrem if you want to find us on twitter it's guys reports on bio. and it is i would not be here that. much as you. always get you to talk a little. you. hate. being that doesn't mean i'll build. on the and. by then i got a session on the nod that they know. by then is a shift the long. haul to an audience that in most is

going on want. certainly not so it. can be and most of it was if you know people multiple injuries among them to soak them to yourself you will see the look of the show's real you know mars on the phone to the book on the if you can book a pupil from bill so this is a you're welcome to use a book in a moral sense what my. own admitted nothing of. off allowed me. to walk. down the aisle something not set it. aside and lead to problems with my stuff and what i can now maybe i may be on the beach florida.

it was you know provision on my part going toward the. house but i. owe. you for your hydro alaska's buskers i just got the. resources you know don't have any problem on a month on those in person but the pressure on us i don't know if there's really a. joining us as you know but it was you know. you know just i mean what almost got it i'm already what it was but. i remember the lord we're going to. give it up as well i must really feel for you to get off on getting with us but those were the orders. we're going to respect them all of this but i would probably say this this well is one of these i will ask him i will write about him with i see the cool car bomb i just bought that already yes it will be in the thought of getting other color link with yours implemented my thought aloud problem we just got to go he.

told trump signs into law a new sanctions targeting russia but says the bill is significantly floors and contains clearly unconstitutional provisions. the new sanctions not only handle u.s. russia relations but also pose a threat to washington's ties to europe where some regard them as detrimental to e.u. businesses. and a new deescalation zone has come into effect in syria with the moderate rebels committing to me telling islamic states and al nusra terrorists.