freedom fest in las vegas has been a fantastic journey for us a lot of great guests that we maybe should just take a stroll around talk to some folks out there on the floor get the pulse of what's happening here let's go. all right so we're prowling the floor freedom fast oh my gosh the kid we bumped into peter schiff. what's happening i'll work it out by bruce get ready for the bull bear debate oh that was ok here is what i am well it's a bull bear about what was right good question yeah tell me everything i don't know you the u.s. the u.s. house your spring i mean you were very visible in the political arena you ran for it was the senate or congress and it said it said it is part of congress yes the house it is the congress and congressman as a senator you're right and you know you're closely associated with that what do you what's your current take on the administration right now just if. they're having a tough situation what they inherited from obama but i think a big problem for trump is that is soon as he won he pretended everything was great

i liked him better as a candidate when everything was raided when the data was phony this statistics aren't real the unemployment rate is much higher don't believe the g.d.p. the stock market's a big fat ugly bubble that's a trump i voted for the trump my god everything is great it's a bull market the economy is great it's all because of me so he's claimed ownership of this economy and this stock market right is about to go over the cliff right there he's the fall guy now right so i think i think he's going off a lot more than he can chew and you know i think things are going to go down to look at the dollars the dollars now down ten percent since early january it's on the low for the year and close the week on the low i mean it looks terrible technically. the trump trade is completely reversing the dollar i don't know you know how much longer list i was a dollar sign because you're really major bones on this invest in foreign stocks you know you're kind of like outside of the dollar is probably overexposed to the dollar so let's get something outside of the dollar and the dollar. it's not

a pretty significant rally and now looks like it may be softening up a bit and it's kind of overdue for a pullback i would say it's a year to kind of back your portfolio i think is poised to back to now take advantage of these these trends assert reasserting themselves so you know years ago i think the whole dollar rally in that took place really in two thousand and fourteen twenty fifteen maybe start twenty thirteen was was fake i think it was based on a misunderstanding of the efficacy of fed policy everybody all of a sudden believe that the fed solve the problems that there was no damage from q.e. did everything is great that they can normalize interest rates they can shrink the balance sheet the fed save the day ben bernanke he was a hero and i think people are going to find out how wrong they were if you remember the very first reaction when they first launched q.e. number one goal went up to nineteen hundred and people were worried that this was going to be a problem they were right the initial reaction was the correct reaction and the market is going to swing back there and i think this is the beginning of a new bear market in the dollar and i think it's had

a lot laura think we're going to take out the lows the all time record lows that the dollar said in the zero eight financial crisis in fact it was saved by that bell right the crisis ironically save the dollar i think the next crisis is going to kill the dollar and of course in the case of the dollar and the stock market responding in this way we've had a tremendous movement in to cryptocurrency and now here we are free to us and you know you're kind of like the guy who is represents gold certainly the gold business gold and silver and precious metals and so those who are in there why a person is such a big topic here there's if you come out and you're pretty negative on trip down bitcoin in general so just summarize what your thought what your thoughts are on the negative side and this is not new i mean people have been doing this now for last year or so i mean people have been getting excited about kryptos you know i did this breakfast this morning with jimmy rogers several people asking about proposed. you know jim rogers has never bought

a crypto you know you see all these gold magnified yeah i buxom and well yeah of course i mean everybody you're a you are you have to pay for data you own all the big boys you've got all the money right but look you know i understand the concept of currencies don't work we need an alternative the central banks yes i get that but the alternative to feel currency is in a fee digital currency i mean it is you know our monetary system now is based on faith right because you know there's nothing real behind dollars or euros or yen it's just based on the fact that you believe people are going to want it and they're going to except other than that one thing that the that currency is have is governments accept it or require it for payment of taxes so if you live in america except for me living in puerto rico now so i go out from under this but if you live in america at the i.r.s. watch your taxes and you better send in dollars right that's what they accept so there is a natural demand for dollars to stay out of jail if you have the you know going for whatever second only jump and so that word thiago we know usually the debate is

about the adverse is golden we say we feel it is the government saying this worthless piece of paper has value gold doesn't need the government to say it has value it has value for thousands of years now in the case of crypto it's not a bad it's not fia in that sense it's deriving its value from this network of cryptographers who are working right now that i'm going by how much saying the government is saying let this be money i'm just saying it's the same concept of it's just being created and let it be money but there is no real value in it it's all based on faith right if it is. somebody doesn't want your big claim. you there's nothing you can do you are using that this crypto currency in particular you know my lenny ills look at the day they're in aeration you've got a big business here they're not and millennial generation is gravitating to our eyes a perceived as a gold substitute poll as a business person you've got to take that on board now i mean did i say i the markets wrong but i'm going to i'm going to ignore my market no. it's not my market

i'm saying they're wrong and the people who are using it are using it as a speculative asset i talked to a guy today who showed me his report folio whatever they have like fifty thousand dollars i said have you ever spent any no i mean so he's never used it in in commerce you speculating out he owns it as an asset gold people don't spend their gold typically even when the bank think they're for retirement their golden years you know you need this you've got a service for storing gold you get internal storage fee is it is don't need it today it is never going to work as money it's suspect you could people could buy it the price can go up until the price collapses and some people don't want to do anymore i mean the people who are buying it think that one day big corn is going to be like a currency everybody loses and to be worth a million dollars a big coin and everybody is just going to be it's impossible and first of all there's already like but thousand other crypto currencies and how many more can there be this isn't a point but sort of people are using this car and say no they're not every day the top one hundred thousand americans accepted you don't know if he's

a card from big bank this back millett going to use it to buy every sunday i can live my life by a big point day all day long they don't accept it i either accept a visa card no put the vs what they they get paid dollars no merchants or pricing their products in bitcoin you can go to a merchant and it says this is you know point one of the big client and then you give the merchant a big point and they take it they don't what happens when you use your debit card to use bit pay the merchant gets dollars or euros all they're doing is making it easy for you to sell your bitcoins to buy the currency that the merchants i use my gold money damage when i go to sears and roebuck it's not priced in gold no when i said well over here and there's a right old money debit card right but the thing about gold money is not to use the gold money debit card one day merchants will actually want gold and you'll get one day people who want it go here or not they're never going to why do i say that is your opinion in the market he's saying otherwise they'll argue it's giving you a different angle while the market was giving a different signal for the two. stocks in the internet bubble and

a lot of them went to zero the market was give me an amazon is like ruling the world yeah amazon but how for every album there are one hundred that will use euro logo all adding you know ok so how do you know let's say you really believe in digital currencies so what if somebody comes up with a digital currency a year from now two years from now that is so much better than big point it does everything big coin does better faster cheaper and everybody wants that new one and no nobody wants to coins so it's worthless right nobody wants to be more because somebody came up with a better mousetrap so just because they were first but of course i don't think that's going to think any of them are going to work i think if we're ever going to have digital currency the euro they have to be backed by gold they're not going to be backed by nothing they're not just going to be digital fi where you have unlimited supply of the ground why no other currency come in line competing with big point they were all your oil petition there are a lot of competitors and that's true but if you say gold is say as a as a store of value. it's used for thousands of years it doesn't mean there's not also

silver palladium rhodium right but they don't have i mean rubies they've been around since they've been all used because all scarce know their uses currency and one killed and other people pick up. and then go over to another country and they cash it out that's currency is used to move money from point a to point b. not a current or asset goal that is used as there is no it's not of this is an asset you don't peep you can't rip up a picasso and give somebody a piece and destroy the value sure it's absolutely not but in the case of gold though it is use and similar way store value in a currency yes that's right because it has oil but no because it has no value to store now the price has gone up but there's no inherent value there who's to say that bitcoin doesn't go back down to ten bucks or five bucks i mean it could go to ten thousand first sure i think there's no way has scarcity value and you're fine to know that they're being other currencies being created willy nilly i think is not a great point because if i was pointing. other monetary metals know you can trade

other mana no matter who says well silver doesn't have the same properties as gold gold is unique in the periodic table and the reason is that it's money now silver so has been used as money to our side of this it has some properties of people desire of monetary but the big queen does not yes because you can you can you can exchange it but there is no value there to store and you say well there's a scarcity yet it's all so there's twenty one million bit points if nobody wants them they're worthless and the only reason that people want them is because they believe somebody else will accept them it's all based on faith the belief that somebody is going to want this crypto currency in the future and they will give me real value for don't give me goods and services but what if they don't what if somebody comes up with a better one what if they just collapse what it does bubble bursts what a big coin goes from three thousand down to three hundred you know not too long ago it went from a thousand down to two under where people going to think who paid three thousand dollars oh my money just went from three thousand to three hundred i mean you're

you've got a lot of people now that are coming into think they're going to get rich off these things i mean is going to be you know bad branding when this thing collapses you know they all were everybody watching chris i guess is what everyone is to credit criticized currencies well these digital currencies might end up making fewer currencies look good that's how bad they are these currencies could collapse before the dollar before the euro so i think if you're worried about the currencies you're jumping out of the frying pan into the fire if you're buying these crypto currencies stick with the real thing stay with gold ok gold got through history yes for sure and in all of for all those reasons they've just said it is they print eminent store of value has been for thousands of years this crypto currency and good coin is very similar in a lot of ways and for this new generation they accept it now as gold that's their perception of it well that now that she was going to change that market though if enough common to it if they if they define that market that will be is going to go they're not going to. i look i'm not going to take my advice from twenty something

year olds or think you know they'll think i'm full it's all me i just don't get it and they get guys like jim rogers smart people or me you know that they think or dom we don't get it no i don't get it that's why i don't own it it's the people who are buying it who don't get it now do i wish i'd bought it a long time ago guess i would be selling it if i if i had it but it doesn't mean the people who bought it were smart they were lucky now there are some people getting our heads up all right thanks to thank you guys are part of right thanks fascinating stuff well stay tuned for the second half of borat coming your way. the economic development is all about numbers we're really pleased to report this quarter we've earned one hundred six point. but what do we

know about the other figures. when i think about the fact that a c.e.o. might do made over twenty million dollars last year more than one thousand times the average wal-mart a says c.n.n. . with all due respect i have to say i don't think that's right. is that just you know a free market works. people went from pretty simple financial lives pre nine hundred eighty to the point now where people are. just totally submerged in their financial accounts and they're all in debt and what exactly divided society from the part of the government tried to do it both nicely maybe. it might be making things worse. by saying this is not how capitalism works this is our capitalism goes hopelessly design mistress leave room.

it was you know provision on my back when i wanted to be. there for your height oh i lost his boss because. we don't have any of those in prison but the pressure on us i don't mean has been. showing us that you know part of us you're not. you know just i mean most people have spent a lot of the i mean. there's been up and i must say i mean really feels i just don't get off on getting noticed but those were the old they speeded tucson's. all of this but i was just this by the support of the. my family fussy credible my just but that's already yes equestrian he thought of

getting up there calling you seem to mean take it. welcome back to the kaiser report imax keyser time now to return to our conversation with charlie shrimp welcome back good to see you again we cover a lot of material in the first segment kind of bring people up to speed on what is happening in the bitcoin space the cryptocurrency space icon want to take a step back and look at things from a broader perspective and get your thoughts on why is because cryptocurrency why is it important for people to look at this maybe in a way that they're not really thinking about going to larger picture way yes so the way i kind of describe it to people is that like before the printing press most

people in the world didn't really ever need to learn to read and write because most information came from the church or religion and it was a top down approach information flowed to the church the king who was the supreme leader the you know the king of england would be able to control all information and that's how you controlled your you control the information you control the money you control the population then the printing press was invented and that allowed anyone to write something and be able to spread it across the world and in a more efficient way instead of a top down approach it was a more decentralized approach and they hated it because all of a sudden the kings and the dictators couldn't control their population anymore and then martin luther forked catholicism mozart for good ol says i'm right there because the printing press not a lot of people and all these fracturing of religions and people start to get information the rate of people that can read and write grew exponentially during that time period because all of a sudden there was a reason and you can argue that all the sudden people were freer over those

hundreds of years their freedom and shoot like the internet there after it got the enlightenment exactly good point about you know the printing press good burke's printing press and kind of how this undermined the authority of at that time the catholic church. it was kind of the storehouse of knowledge if you will they had the priesthood except her and my question would be that with crypto currency and what you could say our flag list currencies money with no flag attached to it if you could have it in a similar impact on the concept of the nation state i think so too i think that borders are are going away in the crypto space like it was even really matter where you're from monies are fungible it's not based on your nation state like if euro's dollars pounds all they point so people can go from anywhere in the world and they can trade and buy and sell and you know i can have dinner with my south african friend and we can pay child back and the coins instead of worrying about what

currency i need to transfer it in so yes it's bringing that down it's making people more worldly i think the chateaux she white paper which. was really written in two thousand and eight and then the first simple the taisha came in two thousand and nine and in the first page it's a political manifesto it really is a lot of people that are involved in the crime nowadays don't really care for the roots of the coin and i'm not going to be someone to tell you like why you should be involved in this you know freedom voluntary isn't freedom of choice you or whatever motivates you and that's ok but we should never forget where we came from because that's how you'll know where you're going to understand why because it was great what was the motivation behind the toshi understand why he built it and how to for how to make sure it gets and used to grow and go forward in the future and people forget that and through understood it's really important understand that whole aspect of cryptocurrency all in the way paper in east critical openly critical of the bailout sale out once essential banking quantitative easing and you

know we've been doing our show during that whole period you called that you called it it when this first appeared you know we were quick to identify this as an act of political activism you know we ran a campaign crash a few morgan by silver as. the way to push back against j.p. morgan cryptocurrency all the money that flows into crypto is being kind of taken away from money it's only available right and that fear of money vision drain talk about draining the swamp you know if you drain the money swamp that's why the old coin market for example you know max coin that not to you know to the max going again but it is saying it is a crypto coin that it has no special attributes or functionality but it is a place to park. outside of the fee out system has value in that sense of the year any any max going purchases moving away from a fee world and that itself has some value so you take the total like market cap of

cryptocurrency is like between seventy and one hundred billion dollars it's still small peanuts there are people that have more net worth than that point that's a hundred billion dollars that's not part that banks anymore like you said this right is being drained slowly but it's going to go from exponential soon we're going to see a trillion dollars we're going to see ten trillion dollars the great thing about the you know scalable technology whether it's email or facebook or you know you just put on the server in there and you get to the million users any of it if it scales fricken brilliantly so here is a scalable currency you know providing a few bumps in the road that is desired by anyone who hears about it i view it anyone who's been in the space knows the experience of i just had one on my way over here the guy came up to me and said i heard you last night talk about i never thought about it before but when i got back to my hotel room the light went on and i'm suddenly out of the rabbit crazy person for the first and it's true and another

metric that people don't talk about and this is i go back and it's a lot jobs look at many jobs the cryptocurrency spaces created over the past eight years hundreds of thousands of jobs around the world having created people like myself i work full time in crypto i can feed my my fiance. i can pay my rent i can give other people jobs all from a script to a current a space that's a huge thing these are people now that were used to be working for the man these are people who were working for the big banks for get money taken to being away from the big banks talents talent is scarce money is not scarce anymore they get for more talent to scarce so all developers financial experts that are not going to work for the banks that are coming work for us docs the real swamp are going to drain work we're creating a whole global community i can send one message right now and reach thousands of people in fifty countries around the world you need a network you need help from if i'm sick in serbia i can get a person there or

a part of the same community now we all have a economic vested interests in the making the world a better place together and that's the beauty of this you know and i talk to my left wing friends you know. political least speaking and i try to talk to them about all the things that they're actively against you know the progressives in american politics what they're fighting against many of them these issues can be solved you know her least addressed was cryptocurrency and yet it's a total dead conversation dead on arrival they don't want to hear about amy goodman over there democracy now you know i'm pretty sure has never had a single story and i have it going across the car and i listen that's ridiculous you know i can when you just said that because i didn't think about that until now for a year i listened to her show almost every day in prison because one of the only shows that i can get on that was from n.p.r. now that all that's a demographic she now one time not one time in eleven months listening to her show

every single day that she ever talk about cryptocurrency it empowers all of their issues on the progressive side of the media specs of the political spectrum we should embrace this technology as a way to fight all of the corruption and banking. you know. crimes that are you know right i don't think that they want to have solutions i feel like a democracy now. that whole kind of like segment of the world they are talking about there they make their money just talking about the problems and that's where they get people riled up and donating it was in their show one fear mongering and scare tactics but when there's an actual solution to a problem i don't want to hear about it either conversation with gary leopold who's running greenpeace a few years ago and i gave him a solution about how greenpeace could effectively do battle with corporations using i think i invented called comrade and he told me that in the zac goldsmith was in this meeting he said that max what you're saying is true but if we did it our

funding would dry exactly that's my whole point there's no economic incentive for them to actually solve the problem because they make more money when the problem exists they get funded it's like the drug war they don't if there she wanted to solve the drug war then the d.n.a. tier one exists anymore but there needs to be a drug war to fund these eastern cities and find i have you know or whatever like i have nothing against people who want to make money now their jobs i'm not going to tell people that i'm voluntary is what i did or they like let's call a spade a spade right this is stricken voluntary inist i keep seeing all over the place like i saw it on roger variometer handle and like what the hell's roger until now i really don't like attributing labels to myself i really i'm not that one of those people that model libertarian a lot of status the monarchy i do because when you finally bills when your son attributes that you necessarily don't believe in voluntary ism for basic reason it isn't it's one rule what is it ever force someone to do something that you would

want someone else to force you to do it's voluntary the everything in the world should be voluntary like that so it's a corollary to consent yes what's happening in the necker island you've got a con fab. sponsored by big sherry of a lot of top people into. space center on the thirty year is this a good development just as the good things happening as a result of this conference is going to go to i think that having everyone together and learning from each other and is a good thing but you know i think it's really important that these miners don't agree with each other it wouldn't be if all these miners agree on everything and it would be like what's the point of even having competing minors is that the whole point is to have everyone disagree even hate each other to a point so if an a negative person or someone who wants to affect the coin in a better way actually does come in and try to affect things he would be able to get consensus because there's no like everyone in agreement that's a good thing oh let me just answer talking about politics and some controversies ok

craig right they as a guy he's australian claims to be the toshi or is alluding to the fact that he is to. be a kind of suggested or especially suggested is get some people in the community like john mcdonough you know i know john a long time and i respect john it's but but when he speaks to the senate doesn't really come across as as what you would expect the voice of the toshi to be if you read the white paper what's going on there so i was very dubious to craig right when he first came out and i never said this publicly but i was very dubious about craig whyte and i try to give people the time of day that whatever so he contacted me and he said hey can we chat so i think i did and i and i knew that people would find out that we were talking so i actually told dr anna back american bro zero and a bunch of other corner people that hey i'm going to i'm going to jump on a call with craig right i'm telling you in advance of his no a conspiracy theories behind it so i spent three and

a half hours of google video with him. and i asked him a lot of questions now i grew up as understand like when i got into because i was a kid i idolized the toshi as people idolize their fav their favorite basketball players like i wrote every word of the white paper i read every email. i read every forum post i was a kid living in my parents' basement i know what to look up to i'll just the toshi i know everything about him so when i spoke to craig right this guy's a fraud he had his no way and he offered me a job that's what he's doing with john the tonus with all these people he's offering to fly them out anyone with a social media presence he's paying them off he did it to me well. my only comment is that the voice in the white papers are reflected in what i'm hearing and videos it doesn't feel like a match made in a close so that that's a red flag out of things toshi when he does charlie i told you not done now everything's. going to be on the cover of time magazine now and it could be worse

we got to go thanks michelle thanks for having me get all right with us going to for this edition me to tell should i come out and stacy herbert with our special guest charlie sram if i reach us on twitter it's kaiser report him to look but you know. here's what people have been saying about rejected in the us is it actually just pull along awesome the only show i go out of my way to. the really packs a punch. yam is the john oliver of hearty americans do the same we are apparently better than blues. you see people you've never heard of love redacted tonight president of the world bank very. seriously you sent us an e-mail.

to. put themselves on the line. to get except the reject. so when you were the president. wanted. to going. to see what before. three of them all can't be good good i'm interested always in the waters about how. this should. you can see the border from here was a. steel fence goes on this side goes all we don't. like and says this is this is all. 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 that we or the state a little bit into. that is doing. with these to be done in the five years it's getting worse the violence is escalating because it's will be insular. britishers really good are great when somebody calls you know because they believe that their range is there are areas and they don't believe. that there is taking responsibility for their security which we would for anywhere else. on. the.

the u.n. security council votes unanimously in favor of sweeping new sanctions against north korea in response to pyongyang to intensifying missile tests. the u.s. launches a war on government leaks often don't transferring transcripts with other leaders a made public threatening to damage american diplomacy. russia's former ambassador to the u.s. opens up in his first t.v. interview since leaving the post about the scandal over contacts with american diplomats.