i am sure this is because a report the recurring protocol it's more than just money it's more than just revolutionary it's afflicting black hole that's sucking in every asset class known to the history of humanity and so one glorious top to who knows where states who knows who knows but you know what all our gold bug friends who are naysayers naysayers naysayers about bitcoin they are joining the frenzy and in fact this first headline this gold fund is joining the gold and silver fondue which manages two hundred twenty million dollars of mostly precious metal equities is jumping on the big queen bandwagon saying wait until you hear the name in this next paragraph here it's an old friend of the kaiser report the fun started buying in april with a mandate to allocate as much as five percent to cryptocurrency use according to

its manager ned naylor label and the idea is to take profits from bequest in gold is then there leyland right yeah i saw the story about bitcoin as being effectively gold it was designed to be gold and now he's invested in it he's put money to work in it you know he's been on our show many times going back many years we talked to him about bitcoin he's been very reluctant very hesitant resisted the idea that it was gold two point zero but now he's been swept up into the vortex into the black hole that is big coin this is also taken over gold are good friends of gold money you know they were like. good coin bad now they're home gold by this asset class and you know to their credit their debts sharp businesspeople do they now offer great big coin solutions over there gold money and other crypto solutions and now the old gold. mutual fund you know those become the

new crypto fund. mid-layer nailer leyland is dumped into the big coin vortex and black hole and they will become q r m as they pronounce it here that's why i get the derm shirt there arm north carolina and of course this is the city that duke built tobacco the great american tobacco companies built this city. it is now one of the hottest cities and all of america for millennial is to move to it's actually a lot of tech jobs are in this research triangle more so than say silicon valley and new these and all the new jobs are coming to this sort of area and in fact google fiber this is their last place that they're building out their fiber things so you know it's reinventing itself as this new tech hub it's an old fashioned monopoly of tobacco industry making you know new with we're talking a new gym with some flop in the second happy to third generation north carolinian

and he's a crypto guru early adopter getting ready for ten thousand we're going to have a big ten thousand crypto bitcoin party right here in durham just hotel asked what's the name of the soto the derm the dermal itself jamison lop about that the big party the ten thousand party he's got a lot of friends so wild yes we actually sat in the reception with him and everybody knew him it was pretty crazy but going back to this big point story naylor leyland an old name in the u.k. the united kingdom an old old. prince harry and you know this family i think was making the cars leyland automobile or some old ancient historical non-sensical no longer you know relevant industry and he's sitting behind his desk with his glasses of this line you know savile row tailor suit and tie surely with the conflicts talking to our friend the brahman the very prominent. jaitley and there's. over

there at harrods they're discussing gold and economics and we want all of you got to get a big going now for five or six years of people who move away old boy who won't rule well. but this question. of why. they've been doing their research and everybody should do it one way or the geriatric cemented their brains do it let's move on to the story back to the story because here are some quotes so i think it's interesting here is this you know old mutual gold and silver a fund there they have gold and silver investors older money people interested in gold and silver and they have a plan and that is as he mentioned you know to take as much as five percent invested in crypto currencies take their property stay at five percent as the profits as the prices continue to rise and buy more gold and silver with it it's an interesting unique plan for their investments i don't know. well you know everybody

has a different portfolio tolerance and whatever but here he is what he says decline was explicitly designed to be digital gold said naylor leyland so if you're going to have a small proportion of a funded bitcoin it should be in a gold fund because that's exactly the point it's bringing the ownership of disciplined money into the modern world paving the way for the reintroduction of gold as a global money so you had said this for us i. stole it from me so let's let's talk to a lot of our audience might not know leyland so you know they might not know the backstory to this but let's you know let's talk about this notion of bitcoin paving the way for gold to be reintroduced as global money. net these are nice guy and he's just you know he's a gentleman and you know you have to be when you're under performing to the magnet was no way to what we could. ok introducing gold back into the global currency yes

because i've said this i'm glad someone else is picking up on this goal but cohen is helping goal by shattering the matrix of wall street that is incurring the naked short selling and the financial manipulations going on in the futures market of gold cents you know you've got teaser oh you've got the settlement is the day of the contract cetera that we see guys like patrick byrne pioneering over there over stock we're going to obliterate all the machine and machinery that's killing the gold price this will open up like part of the sea of derivatives like because moses parting the sea of derivatives and through the gap will gold price will finally get to two three four thousand dollars an ounce thanks to a big point ungratefulness of the peter schiff of the world and the and the jim rickards of the world who don't understand what we're doing for it to make them look good. so let's move on because into his this his

come to jesus moment how he studied it like he's been slow thinking about it watching and studying bitcoin and again i do implore you you know one can look at the hyper mania of max or it might have been clean as a mania or you know and just pile it on everything you've got or you slowly you have to study and understand what you're getting into what you're the reason why you want to point the reason why you want to get involved in between and that's a good sensible healthy thing to do but here he's like why he likes bitcoin and the blace what he has studied as a gold investor as a long term gold investor. says bitcoin and block resolve gold's problems divisibility ownership and speed of transmission said naylor leyland who's investing through us. swedish listed exchange traded fund we're going to revert to

sound money he said if you imagine sound money and block chained together there's quite an exciting potential outcome his fund has about eighty percent in gold and silver equities and most of the rest in physical metal for into aristotle for conditions of money scarcity selling to build the portability and desirability point to phils all of those has since day one anyone who is just a student of gold should have picked up on that five or six years. yes it does still all the conditions aristotle pointed out all sound money that gold is qualifies so this coin and he's correct it's instantly divisible it's portable is scarce and is desirable the condition of scarcity is the one that people have scarcity but this is i.c.a.o. is in their notion was well this is infinite inflation and yet what we've seen

is that despite bitcoin gold despite big queen cash the price continues to rise i think all in it so it's like over well over ten thousand dollars at this point if you add in all the four x. the peter schiff argument is nonsense there's gold and then there's metcalf's law it's expanding exponentially it also follows there is law for all you fricken couch commerce out there where you've got good money pushing out bad money plus it's got the effects of the other effect i might want to say also that it's been basically an analysis has found that a million in those four million big point might be found in another hundred years two hundred years somebody might find the keys find them access them and it will be worth four hundred fifty million for one because it isn't my sock drawer i know less than a sock the left or the right i think it's a left sock it's a christmas sock that i have with little santa clauses and christmas truce and many of the four million missing between are there about three point eight million and it's in a laundromat somewhere in sixteenth street the last seen. i put the paper wallet in

there and then went to the wash cycle so yeah it's like three point a million times ten thousand you do the math if it's worth maybe investigating but don't go away much more coming your way right after the break. on the idea that dropping bombs brings peace to the chicken hawks forcing you to fight the battle. to do stocks credit tell you that will be the public but. they. tell me you are not pulling out by their product.

although we already would want. welcome to the wonderful world of blood donation i come here every three weeks to get my transfusion to be specific i receive in. my body gets and somebody produce itself around the world giving blood is seen as a symbol of generosity and does this because it helps people it's just that one of the side effects is that in this. book burning people put their money on your car immediately. half of all plasma based drugs today come from private companies and are produced from paid plasma as well as on. their own motor car and. one of the risks of pay donation. then is proof that the

frequency of pathologies is much higher in paid nations. if i was flying. over two years old he was getting the money from the federal and who runs the blood business. but i'm back to the kaiser report imax guys are time now to turn to jamison lopped james and welcome back great to be here james a lot of you are in a big calling space have been so for a long time you know i've been in the space a long time and it's hard to find wisdom in this space it's hard to find people with a level head they have a certain zen quality i would say you're the only one that i have found that actually has an even perspective so we're talking about bit coy and you know one of

the things you say about bitcoin is that you know we don't really know yet what this is all about you know people are theorizing is it a replacement for money is it the new money is it a going to take is it is it evil is great you know you you feel that there are some things on the horizon still to be discovered and can you just talk a little bit about this philosophically before we talk about prices and stuff absolutely i mean we're learning more about this system every day you know toshi nakamoto created this thing in two thousand and nine and people have been joining this open collaboration of this project and they've been arguing they've been building they've been tearing each other's ideas apart sometimes tearing each other apart and it's it's this weird sort of new type of human consensus i mean it is crypto anarky it is a system where no one rules and as a result it's very hard to decide you know what are the rules or how do we saw

decide what the rules are how do we evolve the system people are i would say experimenting they're poking the system they're trying different things a lot of times they're trying you know traditional political or governance methodologies most of the time those fail and people are just going to keep poking the system and trying to understand it better that the grand experiment is going to continue so you mention the phrase their human consensus and this is a phrase a key. phrase in the whole bit coy consensus and so it's interesting that throughout the human history there's always been a need to figure out how to govern you know as humans come together you know from the going from the hunter gatherer phase to the agricultural village phase the domestic phase you know you have to have some kind of social contract as we call this in the eighteenth century between the governed the ones being governed and here in big coin it's in the dick consensus is completely distributed and it's

frictionless and you don't need a government it's all run on game theory and in the case of big coin we see it seems to cleave down sociologically speaking to the community and it's gotten rid of people like my current for example who is part of the coup or bitcoin group developers and then had a rage quit and flew the coop because he wasn't happy about way things were going then we had another major break with this roger vero bit coin cash which is a fork of bitcoin and along ideological lines and who had the truth a toshiba vision it's quite interesting cycle sociologically psychologically can you speak a little bit about what bitcoin cash is what people should be aware of it if they own it before august eighth they own it except for a and then a little bit on the on the on the on the social logical aspect of it that i think you do well because cash is a hard fork of bitcoin and so there was

a snapshot taken at the beginning of august where you know whatever number of koreans you had on because then you know have one because in cash and all you have to do is get the wallet software that supports that load up your private keys and now you can transact on this new network which is ninety nine percent the same rules as bitcoin just a few changes on the back in of transaction formats and block sizes and whatnot and so really what we. around here is there is this ideological split between the the technical. changes that people think should be implemented in order to scale bitcoin to get it to reach more people so the main thing is people arguing about should we scale mostly on the block chain or should we scale mostly off the block chain personally i think you know we need every type of scaling we can get but the the on block chain scaling to you know potentially infinitely large block sizes has a lot of ramifications that will impact the ability for the average user to retain

sovereignty and to really decide for themselves what bitcoin is and you really do that by running a bit coy node and using that to secure your money and i really didn't roll that back a lot of bad guys know if to unpack way of talking about their south day large block size correct me if i'm wrong but would tend to put power into the miners and it would be a move against a total decentralization of this protocol of this that work and this is again what would be the ethos of this totally decentralized protocol and we've seen that with the apparent conflict of interest between those who sell mining chips like over there in china at bit me or for the big blocks and and they would be the direct beneficiary of this so this is not a direct conflict of interest over one it will your thoughts are so i would say generally speaking and i hate to you know put anybody into a box but it seems like

a lot of the proponents of bitcoin cash believe that because when miners are kind of a trusted guardian of the network and they're happy to have nodes that are very expensive to run and only large enterprises and miners can run them because they believe that the sovereignty really comes from having your private keys and being able to to transact from that standpoint but the miners of course are potentially a fairly centralise. entity i think that proponents of bitcoin cash would have a counterargument that. core is a centralized entity and they see you know a trade off of one versus the other is not being particularly a big deal so you know we could argue my new show all day long but the proponents behind you know doing hard forks and changing bitcoin faster they're willing to make trade offs in order to try to get mainstream adoption as quickly as possible as i get back to our first point here there seems to be something bigger. a force is larger than anyone can account for operating here and that is partly accepted to

game theory some of the words while this political camps are battling it out you have potentially the whole thing being a moot point because as far as mining goes you now have japan getting into mining with a seven micron and seven half micron sized chips you've got something dragon mental it just hearing about which is a mining initiative so in other words good old free market capitalism is going to still play here and could trump any political party and any political party so far this try to coalesce has been blown out has been wiped out is that a fair statement and what is dragon meant i've just learned about it last week or so i think it's brand new it to what do you know about it tell us about the i think there are actually a multitude of initiatives going on behind the scenes because this whole ordeal over the past year or two with miners like blocking segregated witness activation and kind of acting like bullies in various ways has really put a sour taste in a lot of people's mouths and the people who got into between early on tend to be

very anti authoritarian and whenever they feel that any particular entity or group is beginning to amass too much power they dig in their heels and they say no you know we're not going to go along with this were rejecting you so i think that there actually many more. initiatives on the mining side where people have gotten frustrated and they've said you know what we're willing to put in the capital to help further decentralize mining to make it more competitive market i think we're going to see more. announcements coming in the coming months and that in general mining is going to become more competitive and the miners are going to lose a lot of their kind of bargaining chips of their hash power so the dragon it from my understanding is really backed by dracula's between core developer and i think he's working with some chip fabricators and they're just trying to get the most efficient miners out there on the market to get them. in as many hands as possible to further do some true lies maybe d.c.

track and what's his twitter handle i think it's b t c jack i believe so what's your twitter handle just lot. and also if you go to la at twitter you have links to fantastic resources every bit of a library of of what the white papers and other you know documents that people if they want to learn i say to people that they ask me should i buy bitcoin i say you've got to put in the work to learn about it first because otherwise when the correction comes and we know that there will be a correction you need to have an intellectual foundation you don't want to panic sell once you've panicked thought like you need to know what's going on here a little bit talking about price ok let's talk about price for as we speak here now we're flirting with ten thousand and what are your thoughts on the price i mean you started in under a dollar i believe i was always in you know single digit territory in the single digits as we were. so what were do you see that going not to hold you

accountable to it i mean if yeah you sleep it's a bit of a speculation but what it where your thought is and you know people come up with with various calculations of you know if it replaces so much of the gold market or so much of stock or bonds or other commodities or what have you. as i kind of mentioned recently actually people were asking me about buying low selling high type of stuff is that it's easy to buy low or buy the dips because we know where the floor is you know it can only go to zero ok to go any further below that but where is the ceiling nobody knows where the ceiling is one hundred thousand dollars because it sounds preposterous but i mean we're ten x. where we were a year ago i'm not saying we'll do another ten x. another year but in terms of like global wealth and global money supply you know six six digit decline is certainly possible in the not too distant future now there's two concepts hyper bitcoin is ation and the bitcoin black hole now hyper

big clint ization i believe was coined by the fellow who runs this a toshiba since it was his name that appear a short i believe now so the guy is even is kind of a root reclose think it might be michael but look at it i'm sorry it's who are missing their name but so hyper because it is a shit essentially means that east abandon the c.l. world completely and we just go totally bitcoin for everything right that is not going to happen until at least we fix the scale ability problems so you know that's what we're really hoping these second layer solutions will do and and really spare minutes of we're going to see the lightning network come online and possibly even other second layer networks and then bitcoin as andrea sent in office has said it's going to continue to fail to scale and so we're going to hit road bumps we're going to have growing pains people are going to complain about this or that and then we're going to fix the problems i mean it's all software and so the software

engineers are going to see the problems fix the problems and we're going to move forward in the big claim black call this is something i thought of just recently that essentially the money starts to dijon away from the stock market so if you have a stock market crash because people are buying bitcoin unlike the two thousand and eight crisis that was meant. with a wall of money from central banks there is absolutely no way to stop a a a black hole a big calling sucking all the world's capital if this thing us one hundred thousand plus and a global panic buying if if a sovereign wealth fund like i would dummy is saying yeah they're going to be buying bit coy if you have game theory applied to the sovereign wealth funds and this thing goes to three hundred thousand plus and the stock market crashes is there any force in the universe that can stop this jamieson law oh well i guess nation states with enough nuclear capabilities to blanket the world and e.m.p. isn't shut down the internet for a little while might be able to put a bit of

a blip in the road in the markets but it sounds like a bond thriller and james bond thriller is i wipe it clean cast a track so many would be james bond evil characters like john mcafee you know roger fair rick fox these guys could be the evil doer in the james bond movie they say is that what attracts them to it that the sense of unlimited power you know i mean there may be some some of that i don't think that any of these guys are but if slow process that because corps and the vast majority of users subscribe to is just not fast enough and that something else is going to subsume bitcoin the unflappable jamison lump ever of the diplomat thanks for the segment absolutely well that's going to if this is the cars are parked in my skies or stays or what i guess jamieson line up you can find my twitter at lumps you can find us on twitter a cause or report the next time i go.

everybody i'm stephen both. hollywood. proud american first of all i'm just george bush. and r.v.'s to suggest this is my buddy max famous financial guru and well just a little bit different i've harvested you can find no no no doubt with all the drama happening in our country i'm shooting the good have fun meet everyday americans mom mom cooks the star to bridge the gap this is the great american pill which. on. this footage is unique because the zoe tribal lands are normally off limits to the

public erik's allowed in because he's the so is personal doctor. people here know him simply as dr eric he's rich famous some always on the move saving yachts and flying aircraft that. cuts off the top down costs come home. he's considered one of the best neurosurgeons in brazil. that's happening amazon. allergies so sis going out to visit when nothing is going to do the population nothing much is going to people from momma's on.

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