washington blames russia for the current escalating diplomatic crisis while donald trump holds congress responsible for the deed railing relations with moscow. the world athletics body rules all russian athletes will continue to be suspended from track and field competitions amid doping concerns. and venezuela's nearly elected constituent assembly starts work as the u.s. crowns the country's president a dictator and puts him on the pol with syria's bashar al assad. will return next hour with more on today's top stories up next altie though it's the kaiser report stay with us.

this is the kaiser report one is a monopoly not a been up place certainly of play monopoly who wants to still active are there any rules against wherry of monopolies forming on what started this debate who should care start to start. 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 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 on the side 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 the. monopolies developing

because mostly it's in silicon. value 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 of price gouging by monopolists in america and as a result people's health as 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 you're going to talk about one particular case yes we're going to talk about

the case but you know you mentioned that the federal reserve bank has money. 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 currencies and i.c.a.o. is an 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 bear 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. me right you guys are sure i am going to let me tell you. we're going to come times you have to get a lot of flak from the currency is always you know somebody else here all 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 put it inside her died and that is that of our viewers that was. on the cover all these years i've been waiting for this moment we're going to come talk to you in

a few minutes you all. you know if you don't mind. talking we're going to ask you how would you travel around the camera yeah all right well by doing you know we have the full beard to be coming up like a half hours. i will be over then a few moments right here thank you sheriff leisure gentleman ship. all right well so but i want 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 are 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 nuland in her husband is a lobbyist for monsanto states who in ukraine it's all about the rich for. 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 sat there and you know i was doing battle of intimate domestic and foreign enemies yet i'm mistaken for enemies where is the cia where is the n.s.a. where is the f.b.i. these people are acting against ukraine are entirely right behind that it's worse for you to say no you know i mean that's the thing it's also with everything so. algorithms and the fact that men santo and bear and du pont all these guys know to 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 they'll 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 a feudal sort of model right saying 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 one off 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 bread. isn't ation where that 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 you might this seems unlikely if you look at this headline how trump's pick for top anti-trust copy may shape competition the same as. dollar he said renie an american here is he however is a lawyer 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 a 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 is 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 a 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. take it into a court of law it's as though you turn into could cable the reason everybody did very everybody's out in trees and helpless they were putting farmers out of business or destroying competition in america abusing the english language to further their any to feather 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 came slowly it is because actually every day says that. everybody's a trader here i asked three a rope. anyway we only have twenty seconds left so i want to say you know in here in this with there's no freedom is now making america great again without busting up these monopolies and all of the operations 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 yet.

most people think just stand out in this business you need to be the first one on top of the story or the person with the loudest voice of the biggest read truth to stand down to lose business you just the dance the right questions demand the right answer. questions. 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 and 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. i say about white papers all right because it leads into my first question about initial calling offering yeah of course an initial point offering a relatively new phenomenon in the space and it starts off the 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 are from peter schiff here at freedom fest he says the fact that so many coins in tokens can be created means a 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 walks like a duck it's. probably a duck i've 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 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 where they trading their training nothing but a psychic in a real estate market when it gets to frothy people are trading the the properties before moving in the market that i mean is this is characteristic signs of a bubble thing aside the fact of whether crypto currency has value or not this or in this particular instance with i.c.l. is 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 with the therion last week to go from four hundred dollars to one fifty within

a few days people who you know you look at 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 who are 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 take. through the through the trash for years they made fun of us and finally now the current 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 club of the future or a. felon going back to get 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 them seriously a year miss you have got to be at maybe a little different price is 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 break things i made that mistake 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 we 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 through 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 only someone else is breaking more laws than you and 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 against her prosecution no i.c.a.o. is on that list it's true they they went through 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 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 guy that's what it comes out to that's not fair it's not

a conspiracy where you're standing there going you stating is the fact if we're going to play favorites here and these some of these banks have whittled away into the system as systemically vital that they're beyond prosecution and john titus as if they don't they're 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. did all the i.c.l. as we're 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 by wire transfers and keeping money in your account assyrian was built as big as great at that let's 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 fear and gavin would 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-examine 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 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 to launch a token the key to your token success is liquidity people trading it and if you want to get your token with an employee x. or bitter x. a crack in orbitz the next for them to add a new token syrian token takes some five minutes if you want to launch a token on bit shares it takes some weeks of development work because they've done it already for theory and thirty makes it easy for copy and paste 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 palette this better break through 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 effect why was there a need for a scale scaling need what is it because the big one is growing and because it is growing to a point where we need the ability to have more transactions we need to rival 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 around to even a store of value folks think that we need to scale but 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 have we seen 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 pick one 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 and it passed everyone got together and that's what i see here is like this was this was like perf. governance this well is an issue isn't just game theory succeed again it's game theory will always succeed in the end and it's perfect market clearly nasty equilibrium in this case was the current iteration yeah this is not a long time for the that's why i so i've always felt that if you just think 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 coin is now no value blah blah blah but there's a huge value in being able to study one of the largest social economic experiments and the history of humankind has got a cut out there thanks man the cause report. if you want to find us on twitter it's.

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