this was revealed by a latest audit however somehow no no questions were asked on this case previously and now of course this is going to be unraveling and more are going to be demanded now some of the questionable items are quote really quite fascinating they include seven luxury cars from up porsches to all for males to a bentley to an aston martin and a ladder over new century consulting was unable to provide adequate documentation to neither justified a need for a luxury item of bills nor verified that the use was in accordance with contract regulations as an example and c.c. admitted to using the cars during non-working hours without keeping out of good records of down work use now also highlighted by this audit the approximately four hundred twenty thousand dollars each in salaries to was being described as significant others for working as executive assistants however not providing any kind of details in terms of what this work was exactly also the audit brings into

the light about fifteen hundred dollars spent on alcohol forty two thousand dollars spent on automatic weapons as well as personal travel expenses now the british contractor in question has said to media outlets that these assessments are unfair and inaccurate we've also reached out for more detail for commentary obviously we'll update if we hear back now we have to keep in mind that this particular audit focuses on the years of from two thousand and eight to twenty thirteen and all of this has come out into the spotlight but we do know that there is more auditing going on in terms of what in terms of the years that followed so certainly more is expected to be revealed then and we have to of course keep in mind that this is far from the first time when the issue of contractor spending as well as the efficiency of those training afghan forces on the ground comes into the spotlight to prove graham remain trouble just last month special inspector general for afghanistan reconstruction who pretty because of a lack of performance metrics it. almost impossible to assess whether the hundreds

of millions of dollars spent on the mentoring and training programs were effective well all of this is now being highlighted when of course the trump administration is considering its steps in afghanistan moving further so really it seems that there is quite a little bit to reconsider like staying with us on back with more news in thirty minutes. here's what people have been saying about rejected and that it was actually just pull on. the only show i go out of my way to lunch you know a lot of the really packs a punch at least yap is the john oliver of r t america is doing the same we are apparently better than the blue. sea people you've never heard of love redacted the

night. president of the world bank so take. me seriously send us an e-mail. oh i'm asked geyser this as a reporter this is something i just three d. printed this is a representation based on a big data. of the mind of alan greenspan i don't know if you can really see this but it's something that i whipped up and stacey it does relate to our first story as i understand it looks like some stagger sites or what do they call this things that hang from those. i think the ones that come up from the cave floor of the stigmata well that's the blood that came out of jesus during the crucifixion

i'm not sure the hardening of his mind did the singleminded well greenspan is back and he still speaking fed speak and a little bit less so because you could understand a little bit better and that is greenspan sees no stock excess warns of bond market bubble by any measure real long term interest rates are much too low and therefore unsustainable the former federal reserve chairman who is ninety one said in an interview when they move higher they're likely to move reasonably fast we are experiencing a bubble not in stock prices but in bond prices this is not discounted in the market place because you know a lot of he i think he's responding to the fact that many people are saying stock markets are in a bubble this is trump euphoria gone mad just like his white house chaotic crazy doesn't make sense he is saying it's actually the bond market which is in

a bubble everybody has been saying it many on our show for the past few years. well stock market is not in a bubble if you look at long term rates on the long term bond. so what greenspan is saying is that while those long term rates on the long term bond like the thirty year bond are unsustainable they're too low and then he doesn't really give any more explanation to it he just says they're unsustainable and he doesn't go into let's say a policy that may have been misguided or some school of economics that you need to quote to give perspective an insight into exactly why interest rates might not be sustainable at these low low levels why because the reason why interest rates are so low is because alan greenspan's buddies there at various central banks have been buying or monetizing those bonds that debt to keep the zombie

banks from having to declare a solid c. even though h.s.b.c. j.p. morgan goldman sachs citigroup b. and b. are technically insolvent because their balance sheets more debt than they could ever possibly pay interest on or make good on. nevertheless they are engaged in this massive fraud now there are many people we've had on our show for the last five six years that have said this is the end of the bond market bond market is going to fall interest rates are got to go up and they've been wrong every single time for five or six years starting in the two thousand and eight financial crisis when the world was flooded with chileans of dollars of bailout money many people came out and said was this is inflationary bombs are going to fall but that never happened because they didn't understand that the european central bank would buy hundreds of billions and trillions of dollars worth of bad bank that that the federal reserve bank would buy trillions of bad bank that bank of japan would buy

a quadrillion worth of yen in bad bank that they didn't really understand how fraudulent these central banks were how complicit they were in the bell out of their friends at the regular banks and the complete repudiation of free markets and a continuation of the pension collapse wage collapse job collapse. wife you know death death and destruction that they fan the flames the mortality rate is increasing mortality rate is eight degrees thing. is for bad behavior there's no penalty there's no deterrent i mean if i don't get arrested if i go into a liquor store kill people and steal money i'm going to keep doing it right well that's what i always meant to say well maybe it's time to remove the punchbowl well yeah it's like ten years too late you're frickin at it so i do want to mention on central bank front of course in the past week it's emerged that i think it was the swiss national bank has paid a billion dollars in interest and negative interest the swiss banks have so on these negative interest rates after swiss national bank there's no deterrent yet

they get rewarded for criminal behavior if i were to shoot somebody in the head right now according i'll greenspan i should get one hundred thousand dollar bonus. so none of it makes sense the swiss banks themselves this large they pull out these little bits of you know that your is to destroy us true so let's go back to alan greenspan because he doesn't mention asset prices including the stock market those will collapse but first he says those aren't in a bubble now based on what the fed rates are so right back let's calm down for a second and let stacey speak for one moment so here's the quote the real problem is that when the bond market bubble collapses long term interest rates will rise greenspan said we are moving into a different phase of the economy to a stagflation not seen since the one nine hundred seventy s. that is not good for asset prices so he sees stagflation obviously many people in our audience who were here in the seventy's but we remember the seventy's and there was a lot of inflation and what le doldrums of an economy so but at least then i

recall very much i remember my mother getting a pay raise every year are linked to inflation you know workers back in america back then you said actually have automatic raises essentially with inflation was nine percent they were given percent pay raise so that doesn't happen anymore but here he's saying that asset prices including the bought the stock market will then fall once interest rates have to rise no the seventies were a golden time for wages in america actually wages were never higher in the twenty twentieth century twenty first century than in the one nine hundred seventy s. on a risk adjusted or are on an adjusted purchasing power basis or what have you they mean so a sense that time so wall street suffered mainstream benefit so the fact is that you have now so many people who have given up working for a living in our day traders that they are now participating in this scam that is

the central bank. enabling of this enormous bubble and you know the thing is about this collapse is that. greenspan doesn't really seem to understand that the point of having a central bank is to try to mitigate the risks of these huge swings in interest rates in other words interest rates been through financial repression and they can look this up on google there's a term for it when the central banks are financially repressed the economy they're stealing from savers that's the definition of a thing going on now for close to ten years and he doesn't seem to want to take responsibility for that number one number two if there is a crash it's because the central bankers didn't do their job and that and number three the central bank is mostly a lender of last resort not the buyer of first order if the if banks in the world are incapable of making interest payments on their own debt because they're insolvent it's not supposed to be the job of the central bank to keep a just b.c. j.p. morgan goldman sachs lloyds barclays b.n.p.

solid that's not their job that's not their job to keep these terrorist solvent that's not their job well of course. alan greenspan did in one thousand nine hundred seven also say that there was an irrational exuberance in the stock market and it can teach mark higher for like three and a half years after that so these markets can remain irrational longer than anybody can stay solvent so if you're thinking of shorting the stock markets in the bond markets for that matter of course shorting the bond markets can be has killed a lot of it was a widowmaker was in the past few years so here the article goes on to say well should these bomb market collapse and that's the word that alan greenspan uses that it will collapse which is remarkable for a former central banker to say the bond markets will collapse whether or not stock markets will follow they say that's no slam dunk stocks have proven resilient to bond out so far in the eight year bull market while the ten year treasury yield has peaked above three percent only

a few times in the past six years sudden spikes in yields in twenty thirteen and after the twenty six election did not slow stocks from their grind higher of course that's partly it thanks to alan greenspan. infamous put so i think stock market investors are used to you know that the equity markets are much smaller than the bond markets so it's easy for the fed to manipulate up higher for their benefit but what the it what i just say in other words the greenspan put is just another way to say that the central bank becomes a buyer a first resort buyer a first order to keep insolvent banks afloat and it fifteen years ago this is referred to as the greenspan put that any time the equity market looked like it was going to fall more than ten or fifteen percent they would come in there and lower interest rates and buy stocks in the open market look how high is the bond market well in america it's never been this high going back two hundred forty years that's right you have to go this never been this high in the two hundred forty year history of america and even longer and i was just going to say if i can finish my

point you know you get to interrupt me all the time going to interrupt you because i finish my point that in the u.k. it's been three hundred years or longer lower than three hundred years that we've seen bonds at this level so in people talk about well the trend is going to reverse it's been five ten fifteen twenty years thirty years in the modern bond era you know it's time to reverse think about the trend reversal after two hundred fifty three hundred years going in the same direction i mean once it does reverse and there is a secular bond bear market we're talking about rates going from less than one percent on the two year and less than whatever it is to an app percent of the thirty year to five six seven eight percent remember in one thousand indy under paul volcker rates got to sixteen seventeen eighteen percent eighteen percent can you imagine that when we first started reporting on this the last financial crisis and here alan greenspan in our last episode we were basically warning about the

next crisis coming from the fraud from c.l.i.'s collateralized loan obligations and now he's saying the bond market will collapse remember we did a show for the b.b.c. world at that time and it was this is. ten part series and the b.b.c. the head of the b.b.c. paul gibbs who has passed away since then but he was concerned that the financial crisis wouldn't last for ten episodes here we are. thousand one thousand one hundred eighty episodes and we still have content to talk about notice how much less drama there is in our new sovereign currencies without central banks and that is the crypto currency markets yes there's a lot of drama in there in terms of drama queens but there's no like outright fraud of this sort of magnitude that can occupy one thousand one hundred in the episode look and the suppose you i paper of two thousand and eight he explicitly says that the reason to create big going is to escape the negative environment of

central bank fraud i mean i'm paraphrasing but that's right the block chain or bitcoin is without a country there is no central bank there is no flag you own your private keys you have individual sovereignty and this scares the heck out of a lot of folks including the people who like to collect taxes on transactions and pay for wars with those taxes they may have to stop warring they may have to stop collecting agree just tax taxes no taxation without representation you know i didn't obama care is a frickin tax hike a fact let's make the tax let's move on to a quick headline in the learned constitution doesn't allow corporation to create a tax their attack on our freedom in this final headline in the last thirty seconds here company plans to close private prison lay off two hundred workers the company that has operated a private prison that nest on to new mexico for nearly three decades has announced it will close a torrance county detention facility and lay off more than two hundred employees unless it can find three hundred state or federal inmates to fill that empty beds

so they're threatening america's this is by the way a correction score for america which now operates they change their name to courses . so that's where at least this is the casino the leg yes the prison go like operators pay governments to go out arrest people what was no crimes to fill up their gulag a scene oh you got to go well the second half is even more interesting if you can believe it so don't go away stay right there. what politicians do. they put themselves on the line to get accepted or rejected. so when you want to be president. wanted. to go right to be press this is what before three of the more people. interested in the water.

should. make this manufacture consent to public will. when the ruling classes protect themselves. in the final. we can all middle of the room sick. leave. i max kaiser this is the kaiser report welcome back so listen i've got a fantastic guest ptrace mayor face mayor welcome back to the car as we point out every year and the trace is extremely buoyant because he made some cock gnostic

ations a while ago about the future of bitcoin encrypt occurrences and he's been proven absolutely correct the last time prices on our show we talked about the geopolitical significance of bitcoin it crept out and sense that's on trace we've seen developments in russia japan and other countries i think the russian development is quite interesting vitality over there at a theory and a face to face meeting with vladimir putin this is kind of what we were talking about last. report what your current thinking on this what's going on yeah i mean we're seeing it across the globe it points the being either we go eyes or there's the spoke legislation being passed to encourage it in pretty much every major country and lots of not so major countries. the isle of man has this though bespoke legislation specifically for big point of watching technology than we have legalization in japan we have russia the united states we have

a lot of our south american countries china even has been fairly friendly in dealing with their exchanges there so we're i mean it's it's not being banned which is our being burned you know which is you know they're not they're not going after they're not putting galileo under house arrest for doing math you know and that's really what the point is it's just math grad so we're where we were seeing that there's this drive towards regeneration and you know deciding that we're going to accept and use and innovate and allow the fostering of this industry as opposed to persecution of it right you know you tend to give folks the big picture you're very well read very. someone who's also involved in looking at the history of innovation and monetary theory and money and this as you point out is math and you know going back centuries innovation and technology has driven geo political. development and tensions and resolutions and i love the way you kind of a capsule

a the history of you know a kind of a potted version of the past five hundred years of history and innovation in monetary theory i don't put you on the spot but if you can kind of walk us through again how you see this playing out yes i mean we had the move from the in the agricultural age to the industrial age at the start of that we had the invention of double entry bookkeeping with the rise of currencies fractional reserve banking isaac newton and the other polymaths were definitely involved in all this invented the gold standard to party goes wrote treatises on interest maybe all swedenborg ahead of mining up in sweden the father neuroscience a great anatomist he was adamantly opposed to feel currency and in favor of gold silver with the continental revolution the french revolution we saw this even something as small as the stirrup you know that allowed knights to be on horses it changed the battlefield of europe and then the longbow got invented that made knights obsolete and then we had gunpowder and we had the printing press and then

we had columbus who discovered the trade winds which allowed the buildout of america and so likewise to toshi with to coin has discovered the trade winds of cyberspace it's the holy grail the the cypherpunks of an actor and now the were able to reduce data reduce the value into data itself and transfer it over a communication channel using our way this in for i.t. infrastructure now we're going to be able to build out our contract we're going to be able to build outs cyber space we're going to i mean it's going to huge innovation and it and at the heart of it it's triple entry bookkeeping you know just like we had an accounting revolution at the start of the industrial age we're having accounting revolution. at the start of the information age and so things like derivatives and how we value all this stuff and the currency and fractional reserve banking and not having transparency and not having atomic swaps and like failure to delivers on all these problems with our financial system that require bailouts like the sun's rising on all of that and it's just going to have to just

go away it's just not going to be feasible anymore all right let me just drill down to one phrase to reduce value to data now where here the freedom fest in las vegas and the lot of gold bugs here and the gold community is still i would say eighty or ninety percent type it coin anti crypto they consider themselves to be the holy grail of value only they believe gold you know that goal is to true arbiter of value what's good what's going to take to convert the gold bugs do we just ignore the gold bugs what do we do with the gold bugs trace their concern i mean you introduced me as perhaps the world's foremost expert on gold and big corn when we did that geo political podcast me in my blog was around the gold for crying out loud i mean i am a gold bug and i've brought a lot of gold bugs in the big one at the end of the day we're we're dealing with a technological innovation here gold is the same thing it was two thousand years ago it's not extensible commodity money is great it's limited in amount but it's

not extensible currency is extensible that's why we were able to transfer value over a wire telegraph right now that's where we got a wire transfer from but guess what currency is not limited an amount we're now with crypto currency we have both the ability to make a limited amount and to transfer it over a communication channel and we have the extensibility so we get the best of all boehm and none of the none of the problems it was either on the u.s. last year you know actually the supply of gold in the world of mining was up six percent and supply but quite of course been reduced the at the protocol yeah so this idea that there's a a lot of you know the currencies out there is kind of bogus and that the. article actually is designed to reduce the number of course let me put my peter schiff hat on for a second who'll say what about all these other crypto cloisters eight hundred of them you can just create a crypto going out of nowhere there's just nothing to stop you from doing it traced would he say to slow peter schiff yes so one big one was seven dollars i was at an

investment conference in palm springs i've just done an interview and we had all the equipment set up and guess who haven't walked by peter schiff and so i being a fan of peter schiff you know i went up and we started talking and everything and i will why don't we do an interview about vic why don't we can like educate the audience everything about it and he was like well i don't want you to make me look stupid. i mean i thought this was about educating the audience not about our own personal goes right about personal ego and i got to ask you to look at it as peter said later you know you are an archipelago only with our friend down in acapulco berwick jeff and apparently there was some fireworks on stage between you and roger there over the blocks they were out they were out of beyond being catty on the show . and talk about the gossip but what was that debate about because now we have a resolution right in the scaling debate so what were the the issues going into it and where are we now. yes of the issue was is mainly about activating said whether

or not and you know we talked about you know we're building outside for space and guess what these protocols are becoming the constitutions of cyberspace and the sea meant is not dry yet that means we get to we get to put stuff in there or take stuff out and personally you know being fairly crypto an archivist capitalist it were terry and i want the constitutions to be very protective of human freedom. well there are vested interests that don't and watch and could be a chain you know to to really bind humanity with it and i don't really want to see that happen said whip is a huge innovation in helping protect our monetary sovereignty you know making sure that doesn't become a chain around according to other would be a page on roger affair is thought i'm not going to paraphrase here but he wants to keep it go into a hard fork quickly because to keep ahead of

a state actor who may get into the box same business and put the cypherpunk movement out of business. why do a hard work you don't have to well that's because because sop for sure backwards compatible so why do hard work if you don't have to and said what we're able to do it as a software that's backwards compatible and it was interesting roger actually said you know i'm in favor of like all these things that would buzz but i'm not in favor of there's a little bit of cognitive dissonance there i don't know why at the end of the day it looks like i said what's going to be activated and enforced by the end of august so it's kind of a moot point anyway ok well drawn to and you know with big respect for roger you know he's so i mean a lot of propeller in the to me i mean i was roger we've been in the community publicly evangelizing it i was a little bit earlier january two thousand and eleven that's when he bought his first the quest but otherwise we've been around this for a long time together and you know we you know we can disagree we can butt heads

that doesn't mean that we can't be friends is there something a bigger than this and we can call it game theory and isn't this the biggest experiment in game theory we've seen ever in other words leading into this scaling debate it seems that what's happened is the the some of the nation of the all parties involved prevailed at the end of the day and the special interests were unable to co-opt the movement or the chain if you will and this is really something inside i guess. that toshi understood it or didn't understand it but game theory at the end of the day is that the nash equilibrium is is is winning the day it's fascinating to see. this sociological experiment on a massive scale of the coin taking place i think that's what we're seeing with people like peter schiff and you know a lot of people who kind of downplay it is cognitive dissonance you know in big cohen is just this massive experiment of revealing cognitive dissonance you know

and people come in but their head into big coin and eventually split their head open this mother had before the game gets before the change it's. like i saw him same day and i split heads and that's it and that's you know her track and heads and so it's like you know you got to leave your ego at the door you know with big question like you've got to leave it at the door and yeah there's definitely a game theory there is economic incentive that work there is i mean it is it is a it is a sight to behold i mean there were there have already been thousands of academic papers written about this and i think we're going to see tons of them not just in the math and the cryptography in the finance but in the in the sociology of the psychology game theory. we could see a lot of academic papers looking at this in terms of a case study because then so fascinating to watch everything happen i mean it's just been unbelievable it's amazing for you to say that because i got a front row seat you know you going from a state i mean you've been participating in every facet of this development for years now and you were saying earlier that it's even moving too fast fast for

someone like yourself who is really like completely immersed in this and it's just it with the profit motive right you know i mean and it's so fascinating how it works like i i did a interview with user activated saw for bit one forty eight it had maybe two hundred nodes and i did an interview with berwick and then i actually went did a humanitarian trip and in that enter that hacks us for three weeks because i'm in the middle of nowhere and i come back in the interviews at one hundred fifty seven thousand views. on the top of all the news sides with a story which has been one forty eight and there's this massive amount of political pressure on the miners and everybody is go ussing around one forty eight that we get this threat of the chain forking and and i mean all i did so i told them and i will be your neighbor old in my own trade in the miners boardroom and oil your vacation another. well where i sit on it so far out of it so and so people want to find follow you and catch up on things were they find yes so add trace mayor on

twitter and then ask a host the back when all of podcast why interview all the c.e.o.'s and other top people in the big points they so it's fun to hear what they have to say what i say thanks x. i listen to this other guys report with me nice to stay here but i think i guess trace mayer and it's going to catch us on twitter it's kaiser report intel next on bio all. in case you're new to the game this is how it works the economy is built around court. preparations from washington to washington controls the media the media. voters elected to run this country business because. you must it's not business as usual it's business like it's never been done before.

player. coming up on our team america marches and pyongyang as the democratic people's republic of korea you nine after u.s. president donald trump exchanging exchanges strong words with the country's leader . following the anniversary of michael brown to death i spoke with the former vice presidential candidate about the police and their role as an occupying force. and shocking new video from spain shows migrants are running on to a breach of those stories and more coming up right now.