is not a solution. someone wanted the site otherwise it'll be a free for all. the homelessness crisis. well max kaiser this is that as a reporter we are denver colorado all the latest up. yes we're still in denver and

you know what the rockies are still hiding behind a big one of them fourteen thousand two hundred fifty feet high mt evans balloon according to the chart on the railing behind me overlooking the plains before the rockies amorim have to insert some sort of visual in the answer to get the holes visual skyline insert i think it's might have been right there what it would look like had that permanent haze not that it's like purple haze but it's denver hey yeah you've seen the rockies right there beautiful just like a beer can label right there listen there are famous jazz musician with something purple haze from jimi hendrix. through my mind that's why they sell down the coffee shop now it's like amsterdam of the west colorado it is and it's booming for that that's part of the reason why it's

a boom town do you know by the way before i get on to the story i want to talk about the fact that not only are a lot of children now coming in so we can't really talk too much about purple haze but that deal or that is such a such a boom town that amazon you know they want to build new headquarters and this is one of the cities that looks like it might be just because they have so many young technologists here so much happening so much you know great stuff hipster kids like to live right amazon's looking for a new big fulfillment center yes to ship from. drones and you know it's beyond that it's actually fulfillment centers are all over the place and nobody's fighting for that because you know they're put. them all over the place and it's kind of low pay jobs this is a new headquarters with hundred thousand two hundred thousand three hundred thousand dollar income sort of jobs and they're going to hire like a thousand people at this location most of them are has been raised pretty high with the apple campus in cupertino that ring shape spaceship building that was

designed by the late great steve jobs so jeff bezos is going to have to come up with something even spoke more spectacular than that right here in colorado something that maybe floats could be a floating city i read that you could tether a building to an asteroid and have it so that it just comes down to earth and be a few feet off the surface of the earth but it's actually tethered to an asteroid what about jeff bezos i mean something like that that would be spectacular. he is trying to get to mars i believe he's trying to build some sort of rocket ship that will go there so perhaps but now let's by the way i'm not saying that it's going to be denver this is one of the like fifteen twenty u.s. cities fighting for including hartford connecticut which is about to go bust it's been downgraded to the lowest level of junk martians doing toilet paper to they just at the toilet paper but not just people come to this place of personally delivers a nice roll of hartford mars hartford connecticut anyway so again

like we have a comment on the fact that being back in american child cross america watching the news when we're in a hotel you have to turn on the news and you see the most deranged stuff like it really feels like watching those clips of that north korean t.v. presenter from that crazy woman who shouts and says how great the country is i know because you also turn the t.v. because we have little noise and i bring the ruckus in the ladies ok so let's turn to the headline i have here why american democracy has descended into collective hysteria we are a great power in decline but neither party has a clue what to do about it this is from the nation magazine and as william greider excellent piece i recommend you read it but he says for now our governing system resembles a kind of collective hysteria an emotional breakdown that reflects problems far broader than our having a crackpot president both major parties are stuck in the past and afraid of the

future fear and confusion have overwhelmed the establishment they have no plan for a future not one that speaks candidly to the trouble conditions that have emerged over the last generation and this is part of the reason why we're traveling across america to see the actual troubled conditions that has plagued america for the last decade or two if you tune into c m b m s n b c or c.n.n. they deny it over and over and over in the most dreams fantasy like the. contradictions of what they're between reality what they're saying is getting so great that they must just become more and more hysterical and why mention the north korean woman because she has to shout crazy and hysterical to pretend like that there are some great powerful nation with a huge weapons system and all sorts of stuff in order to compensate for the fact that you know they are quite vulnerable rachel maddow and the crazy north korean news presenter yes are what park saying and the thing about right amount is that

she doesn't seem to understand that when she talks about ukraine and what's happening in ukraine and russia that anybody can just simply turn into the press or the journalists that are covering the same events but live in germany or france or the middle east or south america or any other country in the world and see quite plainly that she is lying so this article points out that we're in economic decline just like every empire before us they always end up in economic decline usually because it's very expensive even with a fiat's currency even when there's no real cost to it it's too expensive to maintain and control the populations around the world they credit the fact that part of it is that so many other nations like china and india have risen in power so our economic decline is relative. in order to save the craziness going on here you know what you're seeing he's saying is that you're seeing two establishment parties and what they say to people is like you can't do

a third party because you need to have the power the billions of dollars that comes with being with the democratic party the billions of dollars that comes with being annoying to buy the republican party we have the billions but on the other hand they're also saying that if you have fifty thousand dollars that's all you need you can take down this empire that's all you need i'm not going to go into like that the insanity of it that's not the point of this episode but what i'm saying is that they themselves are telling you you schmucks out there don't even think of forming a third party because you a less you're endorsed by the democrats or the republicans to to accept the legitimate parties you won't get access to our billions but by the way fifty thousand dollars will take us down. yeah i think i know you're alluding to yet it is remarkable yet that these multi-billion dollar political parties are framed by the little pipsqueak you know that's not even enough money to buy enough ads on facebook to promote buy agora for ten seconds to five. those who are

solemn is that nine hours it's more about nine hours you know in an ad for nine hours if that goes on for nine hours you know you're you should go see your doctor if you're as playing for more than nine hours for you should go see your doctor and you may have been dysfunctional. especially rachel maddow is probably you needed in the house you need a lot of bluegills don't like ok let's move on the crux of america's conflicted feelings is this we are great power in decline but one that pretends nothing has changed the decline in our dominance of world affairs is not a tragedy and may actually be liberating in many ways but the so called american century is definitely over immediately because so many other countries have caught up with us neither major party wants a talk about this partly because they don't know what to say but also because whatever they say might sound vaguely unpatriotic now that is i think part of the

most americans know this because if you very few travel overseas but if you do travel overseas you see that all the citizens of europe for the most part live way better than americans their empires are over by the way they used to have empires they live much better than ordinary citizen go read any of your history books look at the facts on the ground and say like paris they had all these beautiful public water fountains what are those for actual drinking what are those there for because french people used to be so impoverished that they had all sorts of waterborne diseases some rich british guy built all these fountains across paris to help them this is like an eight hundred ninety s. one thousand eight hundred. they're also rich and have second homes and they live well their empires over once relieve the burden of. hire americans can be more like british people and drink cold they are french people who live well of italian people or live even better so yeah there are like better options out there they have free free health care they have like they don't have

a cruel system anymore i think well isn't that healthy sense of why i don't give a hoot anymore you know they talk about french people dying people british people their senses they're not patriotic in that sense so they don't have any identity other than outside their community because they don't buy it anymore they're not fooled by the jingoism anymore the flag waving and the patriotic fervor they're not fooled by the name or they just focus on good food good sex let's be honest you know. what was on what kind of getting verbs yeah you got to say the sessions meets grammar if you're going to get into verbs that's what french people like to do that's what gets them really excited about life so as he said like the parties were telling nothing has changed remember during the election season and two thousand and sixteen hillary clinton kept on saying. to donald trump's much better campaign slogan of make america great again she kept saying we're already great well most people don't feel that they know relative to other nations it has

declined now she's he goes on to say this global realignment of relative economic power does not mean the united states must become weak or impoverished on the contrary once we recognize our change position it should free us from certain things the burdens of neo colonialism fighting half a dozen wars at once to discipline quote lesser nations are very expensive in fact they have weakened us the popular chanting of usa usa usa sounds like false bravado to anyone who knows what is happening how will america react when they wake up one morning to discover that china is now the largest economy in the world i doubt they will chant we're number two we're number two at the cost of may. pyar is high that's true but by banning the empire in the case of america i mean that the cost of everyday goods will be high in other words if you're not depending on slave labor in china depending bombing folks in the middle east for cheap oil you know at

the planning subsidies given to china for cheap electronics everything in the grocery store is going to be double the price triple the price and then you can have to learn how to do stuff like cook and i don't clone i would posit that perhaps prices might be higher but your wages will also be higher and therefore it's all relative so it doesn't matter america is. a massive country we drove for fourteen hours yesterday and got this much on this giant map of america and it was in the united kingdom you can't drive for fourteen hours there's nowhere to drive like you would run off the map and into iceland you would be up there by that i predict to go to christmas present for next year will be a sewing machine you know been people return back to the basic skills of homesteading sewing cooking and raising vegetables that's like polar opposite to the vision that iran must. be in china will be running china

through our hands will be back to basics of basic american values well it doesn't matter if you bring back manufacturing here innovation that happens here and that innovation when innovation and inventions and patents and ideas are coming from the rest of the world because they're doing and they're making doing in making you start to innovate you start to see how things work and how they're not working how they could work better so once we do that again i think it'll be better the important thing is to know that just because the empire ends doesn't it will be worse for the military industrial complex or is the guys who manage the global empire but for the ordinary person based on my experience in europe. think it will be better from what i have observed there and however you want to avoid that the history of great nations in decline ought to be a cautionary tale for americans on their way down declining powers have often squandered their assets

a wasteful wars so let's don't do that good idea they take your advice go against the weight of history well that's it for this. second half coming your way. is still exist. ricos treated as one. hundred forty three cool. and i knew a lot of. the islanders controlled by the us government and some puerto rican screw even dependents. either. still many do wish to join the us hundreds more leave every day.

with the country at a crossroads of the island is on the rise. the idea that dropping bombs brings to the chicken hawks forcing you to fight the battle. to do so to try to tell you that the gossip and. off the bad guys who tell you on the cool enough to buy their products. along. with one.

well i do better that as report i'm ex kaiser time now to turn to patrick byrne is the c.e.o. of overstock that's a qualcomm back max great to be on death's great to have it and let me ask you point blank right up front is bitcoin a wall street killer. yes talk a little bit about it i mean i'll give the backstory of the of the back story because obviously that lead in question didn't result in the luminous pontification that i was expecting but kurt yes so. you give the back story so. if you were attacked by wall street in your days over there and oversight by the short sellers and the naked stories it was ok they print money they sell stock that doesn't exist and they pound your price their stock down and you put your head above the parapet and said wait a minute this is not right this is wrong this isn't legal this should be wrong and you were attacked for pointing this out and you did battle and you overcame

the sharks as it were and then bitcoin came around and you were really the first guy in the retailing space a major retailer to say we're going to take bitcoin was that decision made in part because of your experience on wall street and he saw this evolving in this way patrick absolutely so the main event of bitcoin we realize was not going to be bitcoin it was this technology underlying bitcoin which is called block chain and i said let's start taking bitcoin so we'll start learning about this will get in the community will start learning because this block chain thing is going to well what the internet did to publishing the block chains going to do to about one hundred different industries and some of those industries happen to be like included in the bucket we call government and some of them were what we call corporate you know corporations but the block chain is going to remake civilization and so i wanted to

get us involved in some. that's when we started taking bitcoin it was really just to get into this field you know when i hear jamie diamond squealing like a stuck pig because bitcoin is eating his lunch to use his words despite his attempt to patent bitcoin like technology one hundred seventy times and failing i thought of you immediately and i think somewhere in this world patrick byrne is laughing aloud big shocks because there's one of these crocs is dying right tell us about it you get the irony we are now part of the another journalist who gets the who's knows about my whole history wall street who gets the irony that this is ended up in our hands it is funny not a full disclosure i happen to know mr diamond he was a friend of my father's and my father is dead now but he always used to say approvingly that guy diamond is the toughest son of a gun in a corporate america but he didn't say god it was you know look i mean in all fairness he is a fairly successful banker in america he rose through the ranks and he became

the america's biggest banker but doesn't that in a way his being he feels threatened by this new paradigm and he's now a dinosaur in the tar pit it's an extension of that right it's an extinction and that's the concern is that in extinction i'm out. this is i mean he's really doubling down on his rhetoric is really going out there on t.v. which tells me that he doesn't like the ability to go into the market and do a naked short sell to manipulate prices quietly he can't do that with bitcoin or with any block chain a block chain based that's the beauty of we're using this blocking to recreate wall street the block chain we've done that in two zero what's magic about that is not only the cost the friction caused by ninety percent lower but a whole bunch of mischief that goes on on wall street can't go on within a block change based capital market and what's hilarious has been for the last two

years watching wall street try to design. into these new world the flaws of the old world like net settlement you know it's like you've got a new mazda roddy but they're insisting on putting a lawnmower engine in it it's because they want to maintain the hooks in latches and plays where they can and they can drain out the savings of america by the you don't need them in this world and it's not going to be there so. that is a reference to the plus three settlement blocks in world the settlement is the trade hands to zero so the transaction is a settlement so all the back office of wall street all that has a whole bunch of the mischief that they can do in the back office like naked short selling and mount more abuse of the option market maker exemption etc etc actually just becomes impossible because the traders reunited with the sentiment now another j.p. morgan alumnus black masters you know she left the burning dumpster that is j.p. morgan and flew over to london to create

a block chain company and but it seems that that mean of two years ago it's a block say not going as kind of been replaced with an understanding that only because it offers a security that you don't get with just the centrally managed block chain so those blasts masters equally deluded and will also face the wrath of the market equally as jamie dimon well first i know i have met her several times she seems like a fine woman and she's a competitors i'm not going to trash talk her but it's only the trash talking. that it is i think that yeah i think that a lot of these corporate attempts in general wall street has in the last two years once they understood the this was coming they tried i think to deflect it by funding efforts that in one way or another maintain the rules for them those efforts have not gone well there's another one i won't mention that has gone from described by well much by name but has gone from being

a block chain company to now it says. this blocked chain inspired because it's just like building databases like nine hundred eighty eight called wants their database back you know that's that's that's all they're doing they technologically the truth is wall street is not known for its technology and in my opinion the efforts that are going on there seem to be failing technologically and as the efforts to remake wall street occurring from outside wall street such as ours such as symbian or seem to be the ones that are making headway well the reason they're not technologically savvy is that they've been a set of eyes to spend any money on the technology because they make a lot of money seeking behavior just reaching into the market through some loophole and extracting guaranteed profit benefit did you see that lawsuit filed in late august by a bunch of pension funds of all the class action suit it's going to be maybe the first trillion dollar class action suit against the six big banks on wall street for their dominance of the securities lending but the securities lending business and and that they they were in cahoots all along just as i did just as you were

alleging over a decade ago and that has really cost the pension funds but two percent return per year there is a massive pension fund crisis in america now that prices they've been assuming seven percent returns that should have been about four percent that two percent that difference has probably been thieved from them when they finally figured out what we were doing a decade ago they filed a class action suit a few weeks ago i mean a trillion dollar lawsuit and it's all about securities lending i don't know something crazy that we learned in our lawsuit this is crazy so we had this lawsuit against and the course of it we learned something about goldman sachs what percentage of goldman sachs part of brokerage revenue comes from securities lending . i know the answer but if you hadn't told me i would have said like twenty percent seventy five percent and we have come up with a block chain. based version of securities lending that satisfies the f.c.c. it sucks all the rubber out of that game because it sucks all the rubber out of

that game it's not going to be somebody for its direct attack and seventy five percent of their revenue and it returns a whole bunch of that profit right back to the pension funds so it can literally like make a big dent in the pension fund prices if the pension funds adopt these as beneficial owners of this. i don't think people understand that pension funds are where toxic risk goes to die right they know this is why i've worked on wall street for many years and if you have a trade that's gone bad and you you can call the pension fund manager and dump it in some multi-billion dollar pension fund and it gets buried with all the other risk that goes there to die both my brothers worked on wall street and the mid eighty's and they both of them had to leave because of what they saw along those lines that just the scrupulousness with which they rip their clients face off which is an actual expression and stick pension funds with garbage instruments and stuff like people who aren't thinking fits almost like their world view is. you know

that's the food everybody west of the hudson river is the food we're the predators they're the food we're going to go consumer savings that's how some of them think they are doraine i mean it's a small president there are sociopaths yeah then that they are it's roads are still ship out there isn't they seem to be a real minority back then i was really surprised when i went public and became a public company c.e.o. and was mixing it up with these types how open they would vote showing that that's what they were a fraud they take great pride in their fraud jamie dimon is proud to be a shyster because fraud has become the de facto business model of america this is where suddenly it's fun i'm thinking more like steve biko and think guys like that and the people around them how open how cool they thought it was to see if you can just met with the top crypto minds in the world recently placed in connecticut what does that tell you what's happening and what's happened what could be thinking my guess is he wants to it's funny would be funny because we've been hearing from.

so anyway we don't know who would it is we're hearing from from someone who represents a big money want to do something with us. going to him how funny i wonder if he'd be willing to go into business with me you know we were nemeses a decade ago. but now he's kind of like back on on though right he's been rehabilitated right yes that was a great thing about wall street you can always go back no matter what you did or legibly did to me that's a bit like saying hannibal lector hannibal lecter is back well yeah i mean could you ever believe you got rehabilitated i'd be curious to me you know well that's the thing about the business model america is that there's no fraud too big no deterrent but while we're settling scores let's talk about their part chilton. here's a guy who has not come out against big coal and he was the regulator who stepped in and decided that there was no manipulation going on the silver market even though it was a massive leaves manipulated using take it shorts. how big do you think the naked

short position is again silver gold there we know it's fourteen billion dollars. that what because they inherited that from bear stearns when j.p. morgan bumpers turns over wrote it why did christie morgan buy silver bike at the price of silver sufficiently high enough to put j.p. morgan out of business to cover the short but we got to fifty bucks from fifteen and then they came in and they launched another massive wall of derivatives and jam the price back down. ok but now we're in an era of crypto where that's not possible as you describe you're on the front line here and you're the big retailer you've embraced it you've had experience with these guys so i got of defer to you in your view in your opinion crypto and bitcoin is genuine wall street slayer. yes it's right it's from it's an extinction about to extinction about so went to be about ten seconds left what's happening for. the company what's anything new

capital but what's the we're just we're sort of leading the pack with nine investments in the crypto space and we're sort of leading edge crip watching me wall street large chain central banking etc stay to write better birthday should be on the guy's report thank you matt all right well that's going to do it for this edition of the kaiser report was being nice guys are safe here but let's thank our guest patrick byrne of overstock dot com if you want to reach us on twitter it's guys report it's like somebody you know.

i mean always gives yeah you know until you telling. her that you're also the you know mr welch for this job. so in other words are through the internet do that. or if you're. just to believe all. the glad i. got. the number. nobody can take on that. feel to it or got up out of the. state out be important you know to stumble into the room the truth. somewhere.

i. i i. i. i. here's what people have been saying about rejected in the us is that it's full on. the only show i go out of my way to lunch you know what it is that really packs a punch. yeah it is the john oliver of r t america is doing the same we are

apparently better than blue. i see people you've never heard of love redacted the night president of the world bank so. i'm going to make sure you sleep send us an e-mail. it's a crucial time for catalonia with the spanish regions president about to speak on whether or not to break away from madrid will be life from boss. i. tear gas broken windows barricades a nationwide strike is underway in france why was his protest against president cross labor reforms. watching the government doing all this time.