the u.s. state department faces some more quick questions over the seizure of a russian consulate. diplomatic protocol you know what i don't know if you are working today or what. president trump says military action against north korea is not inevitable while pyongyang accuses the u.s. of blocking international efforts to resolve the crisis. and the hung garion of foreign minister describes. his ass political right after the european court of justice rejects the country's legal challenge. nicky erin will be live with you in around

an hour's time with all the latest news stay with us. i am much keyser this is ok as a report you know iran must go with their tussle mark zuckerberg at first for their o.e. arguing about artificial intelligence is going to destroy the world the on must says maybe it will mark zuckerberg has already destroyed the world so why does he care let's find out more from stacey well max we are also going to talk here about trust antitrust you and i have discussed on our show several times the fact that we have tech my knobbly is starting to emerge in silicon valley now we know the silicon valley is in the heart of california which is also very democratic

and liberal so a lot of the liberal media elite like these guys and so i don't mind their monopolies perhaps so we're going to look at what has happened since hillary clinton lost the election she lost to a reality t.v. star she was humiliated by losing to it reality t.v. star all of our media elite in the likes of m s n b c it's c.n.n. have demanded that they're good friends in silicon valley they're good friends who run facebook they're good nice guys who run google and all their friends that they hang out with that they start censoring the speech of people that they don't like i encountered it twice and one day just a little stupid link i provided on my facebook page from boing boing facebook

threatened to block my page claiming that boeing boeing link was fake news let's all pray for hillary of course. i said i let's pray for hillary because i believe this whole sharod of fake news is about protecting hillary making here feel better so as you see i got shut down from facebook and then i posted it to twitter and when i posted it to twitter they shut down my comments saying show additional replies including those that may contain offensive content so there you see the beginning of the shutdown of the free space that is the internet oh do. well you know people think that you know the speech requirements on these sites out to be looked at more closely because there's a bad actor there is hate speech and mark zuckerberg needs to be filtering out the church during words and phrases that my corrupt our youth and for create a political outcome like that would not be conducive to making america as much

in hillary clinton's image as possible and that's not really what's going on you know the outer rhythm that is a technological heart of polling your content from facebook or twitter is not dictated to some kind of corporate committee looking to better the walled garden and make speech more free and democratic know the algorithm is controlled by corporations and advertisers who are trying to steer you algorithmically to their products i would imagine since the biggest advertiser probably in the world is opiate pushers that they're pulling your content for some reason trying to steer you into getting the pope on opiates if you're not already on opiates so the bigger question is this is a c.e.o. like mark zuckerberg aware that he is the conduit from the poppy field in afghanistan to the people dying in the streets across america these a v the

algorithm dictated by advertisers that create dead people more dead people than the dead war army of the. game of thrones is you wherever the oh you're probably doesn't care about this america opiate costs probably not well i don't want to get into drug war policy or any of that stuff but i will mention that in terms of their competitor marijuana would i suppose be a competitor to opioid advertisers on facebook and the story that i had linked to was underwear clad man outside of courthouse with a sign return my bong his name is jeffrey shaver he's thirty one and he's standing outside the kitchener on to ontario courthouse wearing underwear size two signs that read read return my bong and return my marijuana because apparently they had been seized by the court but in terms of you know talking about fake news a lot of the products that are pushed on facebook that are pushed by the

the foundations the backing of the likes of national public radio you know the those the wealth of many of these companies of the families that backed these sort of industries you know they come from a lot of fake medical problems like why is there an opioid epidemic it well it's because what used to just take you know a patent free aspirin you know to deal with the pain you have they now give basically heroin in a fancy pharmaceutical form but you know it was fake problems that originally that cause us opioid epidemic but open to the news like one big in america just devastating the population final solution kill everybody thanks drug companies make sure to pick up my check at the end of the month so we're talking about these monopolies the tech giants who have monopoly on our internet space from amazon to

google to apple and you know these big tech giants out. silicon valley now one thing that we've seen post hilary's humiliation is that this all too right is being shut down everybody is shutting down their websites their cloud flare is even blocking them from even accessing the internet for example the the daily storm or which is a a neo nazi site but now we have the emergence of a new thing it's not the it's not the alter left it's called all tech to basically fight. censorship so the internet of hate after charlottesville nazis white supremacists on the altar right have become a lot less welcome on the web so they're building their own first they started with companies like hey triano which is you know patron is a place that you can go in order to finance certain writers or podcasters or you

tubers that you like a tree on is a place where the those who are not allowed on patron because they're deemed by patron to be hate mongers they're going to hate tree on which supports all speech including hate speech then you have a an app like gab which is a chatting app that was available that didn't censor speech and basically then flourished amongst the all to rights community and also neo nazis and stuff like this that app stores i phone the apple store the the android app store they deleted the app and wanted to let people access this so the guy who runs that company is called send usia as his last name i don't know what his first name is because i haven't written it down here but just so you know when you hear me say this is the guy who runs gap gab so here they're fighting back it would be hard not to spot the irony if one of the most significant threats to big tex

monopolistic power ends up being caused by hate groups gabs believes that apple and google shutting out his company from their app marketplace this prevents it from accessing seventy to seventy five percent of its potential u.s. market even if you agree with banning dab the power of a handful of companies to banish anyone from the internet should give you pause and it is one reason why the arguments of all tech advocates may find more and more friendly ears in silicon valley where many entrepreneurs increasingly worry that they can't compete some of mark zuckerberg may not see as sympathetic if you tell me that was going to happen a couple years ago i want to doubt it yet where does this go you know where it ends up eventually so here. many of these people would have like hillary clinton because hillary clinton would have definitely looked the other way

as they consolidate more and more power so perhaps they decide that bernie bros that their hate speech or that they're not welcome on the internet that their posts on facebook should have been. deleted that they should have been shadow banned you know so where does it end because is that is that acceptable to say that the people who supported bernie sanders that they could lead to a nazi a neo nazi sympathizing sort of president and it is it worth it then to block these people so where does it eventually well what mark sort of were his implying by this policy of censorship is that the american constitution the bill of rights and two hundred forty years of history is not sufficient enough to discourage an alternative view of humanity let's say the nazis in other words this is the most answer american thing any one person could do would be to impose monopoly pricing a monopoly power to scourge competition which includes competition of ideas to

favor censorship which is the cliché of a dictator book burning you know which is what they do under dictators so what is a book burning dictator who hates america and is pushing drugs other than that he's got a nice wife and baby and seems like a lot of stuff was considered hate speech at one time time interracial marriage used to be considered almost a hate speech the fact that you would advocate it was considered hate speech so if you stop speech and ideas from flourishing then you know it can lead to a bad place now i want to quickly in the last two minutes here i want to point out that there's been another story in the past week which is that google has basically shut down a think tank the headline reads google critic ousted from think tank funded by the tech giant so barry lynn runs a big. of the new america foundation which is a liberal left wing think tank out of washington d.c. he ran the bit that it's called open markets we've cited them often here on the

show because they had mass dolar there who talked about these tech giants and the emerging monopolies and core prophecy there so they've been shut down by google because eric schmidt was very unhappy with their work that they were doing basically calling google of an emerging monopolist and in fact emery slaughter who runs this foundation financed by google she e-mailed this guy barry lynn who she then ousted and said we are in the process of trying to expand our relationship with google on some absolutely key points miss lot of wrote in an e-mail to mr lynn urging him to just think in capitals about how you are imperiling funding for others things like these drone operators boca raton florida they're operating drones in afghanistan killing innocent people weddings getting a purple heart that's eric schmidt he's pushing a button and he stabbing the constitution in the heart and he should be taken out you know something should be done here in a serious way but we have to go now take

a break and then come back with the second half so please stay riveted don't go stay right there. in case you're new to the game this is how it works in our economy is built around corporation corporations from washington to washington controls the media the media and. voters elected to run this country business equals power. must it's not business as usual it's business like it's never been done before. it will make me all known can love me again i was wrong but maybe you have been talking to me one day i would have been ok maybe naive then maybe. more of them i tried to make

no name but he wanted us going to eat me out on them as well as for us to loudly love the. cutest body of the most loved to get his body it would point the love up to this the idea about this sort of rochelle feel poky what it feels to play the piano being the sleep of. the he'll win the league in that nigger and organized sport but it's so eager to see and everybody every discuss the seymour hoffman on the bus one that's good for your b.s. your repeated the above is a biggie about middle management. if you're going to get books. just so sad much kids. are just to some muscle fischer's a means to do so i look the same issue into the last combine yes the thesis and if we don't do this you just cut the same music scene the scene called dishonesty to do so.

hey i'm back guys are reporting yeah i got my white suit on and i'm also in chocolate cake ok how fricken dangerous is that ok look at that shot of tech i'm already halfway through it so far this white suit has remained pristine white and i'm a big doubt it big data and not a new audience freaky place nuance hey we're talking with michelle block of mish talk dot com he's one of the original financial bloggers in the blogosphere going back oh my gosh ten twelve years already and a lot of really smart people read mesh like give us the latest price whatever see here go mexico he says i read there should lock he's my go to guy miss welcome back

cursory back on back to three years when i started my blog i want to get back into this thing conversation about free markets because in the previous segment i was talking about solutions and he said well you know it takes free markets and a lot of people listening to this will say wait a minute hold on free markets are what caused the problem and i want to get into that because i think people who come to that conclusion are really missing the big picture here so let me set this up in the following way free markets would imply that prices are dictated by buyers or sellers in the marketplace from adam smith's concept of the invisible hand going all the way back to the enlightenment that's a mankind and humanity out of the medieval king ruling monarchy days into individual more individual sovereignty and democratic principles but what's happened is that we live in an era of central banks and central banks have become the new rulers the new monarchs the new potentates the new poll of euro and they

don't let free market work at a very fundamental level they don't let the price of money be determined by their free markets so that's why i set up mesh take it from there bish. well we've got a negative interest rate we should never happen in the real world out something like forty percent of the world's soured bonds trade with negative you know absolutely freaking gravy and then there's this whole idea that rising prices offer a benefit to everyone is easily missed proves you just stop and think for a second of everything was for a then everyone would add everything they want. so do. oh in prices equal to rising standards of living but you have various players or players that don't like your guy. they housing industry comes along and says we need affordable housing that's really the last thing they want is affordable housing we've had hundreds of affordable housing prices and programs and all they have done

is get prices to go up so their solution is we made more affordable rise. out of the program it doesn't work every where the government interferes prices go up i mean look at obamacare classic example look at the cost of education when i graduated from university when i maxed nine hundred seventy six the great and civil engineering ok it cost two hundred and fifty dollars a semester i tell people that and they their eyes glaze over you know you're pregnant you don't know you can look it up and say wasn't aware she was back then so you know what benefit is there to anyone to have the cost of education be forty thousand dollars a year now for an end to end engineering great university all right there's no economic benefit to this except to the people who are collecting interest money

off of these loans and so the bad is i don't know people who some people tell me those are evil are doing this on purpose i think are just stupid max they've been trained to be. stupid. people tell me this is all part of the lie. to confiscate the wealth from the ninety percent and give it to the town and up to go on i don't know you got an opinion on this is this on purpose or is this. they're just dumb now you mention that the cost of college is going up the exorbitantly i remember when i went to new york university i was able to pay for tuition work and as a go go dancer at a lesbian bar in greenwich village it just can't do that anymore now let's talk about this market again because you made some excellent points kind of focused on the government and there's three actors in this drama there's the government there's the market mr market as it's called and then there is the federal reserve

bank and what i want to ask you about is to take your eye off the government for a second let's focus on a bank like wells fargo and talk about how they were caught stealing from millions of their customers in a normal situation if this was a free market economy that bank would face serious penalties of people leaving of failure bomb collapse and catastrophic economic hole in the ground caused by their what i would classify as financial terrorism this would force interest rates higher and the economy would come to a screeching halt but it would also come to a point a fork in the road where people need to make hard decisions do we allow a bank like wells fargo to put a gun to people set and steal money making fraud the defacto business model of america or do we want something else that's a little bit more the way business like

a so is it my am i incorrect in saying that part of having a free market economy is a terrorist like wells fargo when they commit massive fraud they go out of business even though interest rates might go up that's the way the free bar. it works right yeah well the for the free market says you can make a mistake but if you make a mistake you're likely to go out of business in this case we failed to prosecute these leaders we did it time and time and time again no one got thrown in the bank for anything other than thrown into jail other than bernie made off they see you know a wells fargo ought to be in jail or he ought to have one hundred percent of his wealth confiscated or you know find so the man is penniless so it's so easy to understand. what he did was wrong and that any other c.e.o.'s of all the rest of these banks say you know what i'm not going to do this because i might end up in jail or i might end up with one hundred percent of my wealth today we have no

rules like this and people saying well it's lack of regulation access not lack of regulation that cause this yes it's we've got the fed and interfering in the free markets where we've got people with a lot of money buying rules in congress this isn't the free market this is cronyism this is bailouts of banks this is that. broad sponsored by the fed inflation itself is fraud sponsored by the fed and they come out and they have the gall to say we're and we're inflation fighters when they are the cause of inflation something past a change with that picture before we see any real change before we stop saying increasing amounts of wealth going to the one percent the half of one

percent and the one tenth of one percent we're going to own all the assets on the model on the path that we are following because we don't have a free. mark we have regulations but we don't have anyone in forcing regulations and i talked with eric holder former attorney general in washington d.c. one on one personally i asked him about this as well i say just basically what laundering billions for mexican drug cartels and his response basically was he had no remorse over the thousands of deaths in mexico due to his direct actions by allowing a just be say to conduct a immoral unethical acts of terrorism and he smiled about it and he walked away as if that was somehow cute and this guy lives to breathe another day that's unconscionable that is unconscionable in america it's completely unacceptable anyway let's move on i mean you know what are going to do if the american people

are going to sit back and take it that's their prerogative now well now that they've taken it to the op opposite extreme you had this group called fed up usa is that it now you know after railing against the fed they're now demanding of people security well away max isn't a people's cure we what we saw. back in france that caused the guillotines to roll people's here we let's let's let's give money to the people and people support these ideas of what the middle and living wage and we've got this new model of new monetary thinking. he. they call it that says well we've got this but now once government here they can spend money and they're going to do it wisely i have many times do we have to try this before it fails but you know that's where we're headed and you know what the one growth it would be

worse than the fed max would be someone that wants to come along like zimbabwe or or any of the other. argentina venezuela or anyone else that's. oh it's just give money let's just give everything for free and it'll come back it does that were that way though everyone would have everything they wanted if it did max well there is a guaranteed minimum wage is called quantitative easing every bank no banker left behind their all devin millions and billions of dollars every year for the federal reserve bank to buy prostitutes and a deadly arnesen chalets in switzerland ok it can make the g.d.p. go higher by including prostitution an era when you as they did in the united kingdom three years ago because they were afraid their g.d.p. was contracting so they said let's just include heroin use and prostitution who fall off the g.d.p. is hire of course maybe american is go down that path is like pottersville and the classic holiday movie it's a wonderful life america has become pottersville

a mish now you know it also extends to a big tech so google recently exerted his power of finance think tanks to shut down open market foundation at the new american institute open markets and stated that google's power is motto politike monopolistic so now google is basically in the business of censorship. and that member their slogan is me don't be evil now they've become big data it's really tough to deal with that i have been a big defender of google over the years. they got that way i use google products because i like them people use the google search engine because they like it. they why france and what europe is trying to do to american idol actual property companies. is outrageous but what it comes down to google actually censoring someone or twitter says rim something on it as we've also heard

here. it's just it's it's really gone let's return to g.d.p. per site because i want to make a point this is a fundamental flaw of g.d.p. max is that government spending by deaf. emission is part of g.d.p. if a government pay people to spend it at the moment it would it would go into g.d.p. bombing dropping bombs in afghanistan goes into g.d.p. there's nothing crater of the there is no chronic here there is no benefit of any kind to dropping bombs in afghanistan what as a for unicef government spending adsit g.d.p. it's all bogus we've got these bogus g.d.p. numbers we've got a shoes and. out out of out that was due we're where they add the benefit of a free checking account. every g.d.p. report they figure out how much stuff you've got for free from banks that are

making interest on your money by loaning it out paying you negative or zero interest and they're saying well you've got a benefit to the free checking account but really it's a benefit the bank all of this stuff it's not g.d.p. max it's grossly distorted procedures that's what i think it ought to stand for yeah area mass of course the people of houston are certainly glad to say those us government red cross after saving them off their rooftops during the flood anyway wish we got to go that you went up soon i now but i maxed out all right well that's going to do it for this edition of the kaiser report with me max kaiser and stacey i would like to thank our guest mr shand lack of miss talk dot com if you want to catch us on twitter because reports on by all.

the u.s. and north korea continue their war of words well cooler minds pressed for diplomacy and negotiations how much of a threat is north korea to the global order and what needs to force to resolve this conflict. please. please when you saw tell you that. they. tell you on the cool enough to fight. the hawks we. will walk.