the fact that this is happening here in this country and nobody is talking about it or putting into context what is going wrong how what is what is wrong well it's called the ghetto if occasion of america and if you listen to gil scott heron one of the some. spoken word geniuses of our era. you know you would know that this was coming. doesn't want to deal with the fact that it's been abusive toward its minority population and put them into economically disadvantaged ghettos which have led to drug use heroin use and all kinds of problems and as a result of the necessary. infrastructure of prisons to maintain the ghetto of america primarily the black population there's no more

money left for the white population so they get off a cation of america spilling over now and you know obviously you've got these two white women that's what i want to say ok but the fact is what i think is actually the problem relates to our first headline here here and that is the copyright cartels that the sort of all the dark ization of america the fact that basically we have a pablo escobar like situation you and i covered it before on the tobacco trail the carnage trail here in this town durham north carolina was built on the tobacco industry the cartel that the duke family ran of that the tobacco industry today we have an opioid epidemic because of the cartels from connecticut the what the family connecticut that runs the opioid epidemic but now this also the fact that we have these old girl keys has basically led to a situation. we're not only are we pushing drugs on people but there's no hope of

ever rising because here's a study and this is from the new york times as headline mists of the one percent what puts people at the top dispelling misconceptions about what's driving in common inequality in the us so the study looks at all of the myths of of what's causing inequality in the u.s. why the one percent owns twenty percent of all the wealth in the united states and basically they look at all the other o.e.c.d. nations and by comparing the arguments they can find out that is it's not tree it's it's not the rise of information technology it's not about unions and it's not about immigration either because if you look at other nations with more immigration or more trade or or more i.t. then america they don't have the same situation and what they found is that it's actually basically the cartels or the government intervention in certain industries and will go into that in specifics but it's things like you know the

fact that to get to cut hair in the united states you have to stand like two thousand dollars to get a license in many states just to have the right to cut hair like so the barriers to entry have been erected all over the economy all over it through various services and stuff but the oligarchs the wealth concentration the bureaucratic concentration is sapping the economic vitality from this entrepreneurial nation called america and the machinations and the costs associated there with of keeping the prison population in place are draining money away from all aspects of society and you've got the problems that you would normally associate with the ghetto like people nodding out in the middle of the day in the middle of the street heroin not just hot nodding out like you it's i lived in ireland for four years and i'm quite familiar with what happens to the. when it's run by heroin gangsters and what this

does to folks now are seeing it across every socio economic strata of america because the same fricken gangsters are running all of society the same drug pushers and opiate pushers we used to condemn in places like harlem and other urban areas are now running economic policy in america so you've got a nation africa not apparent without it down there at the convenience store you know all jacked up looking for a hit you know thirteen crack course and yet in everything in america crack was jacked up these people just want to nod out because like this study by the way is by jonathan rothwell in the he's a senior economist at gallup and when you're talking about the one nine hundred eighty s. when gil scott herring was alive and kicking and offering his poetry to the world and explaining the situation of the ghetto of america american society of the b. movie sort of dedication that automatic so ok to take a can because

a copyright cartel is a can even do that so the fact is that in one thousand nine hundred eighty the top one percent own to their their share of the national income was eleven percent in two thousand and fourteen it was twenty percent and it's increased even more no other nation in the thirty five member organization for economic cooperation and development the o.e.c.d. is as an equal among those with comparable tax to none have experienced such a sharp rise in equality so what's going on the gallup economist looked and he said that all of the growth in top american earners has come from just three economic sectors professional services finance and insurance and health care groups that tend to benefit from regulatory barriers that shelter them from competition of course we've talked about obamacare this is like part of the health cartel is right here behind us duke is like part of that. whole cartels system of health care in

america but they have benefited from the regulatory barriers. dean baker he's covered the economist out of washington d.c. he's covered the fact that doctors for example you can't just we can't import it through immigration doctors because they need to get all the medical certificate certification here in the united states even if they've been trained in france or germany or united kingdom anywhere in europe or home kong or singapore great doctors great healthcare systems there they can't just come here and start offering services to americans they have to get you know spend hundreds of thousands of dollars to get the certification required to practice here most is to know it by a red and white he's on the moon. you know the revolution will not be televised you know them going to be movie. the fact is you've got regulatory capture you've got the capture of these industries of the american economy and they're beating the

hell out of people every single day this is like the harvey weinstein is ation of the american economy where everyone is just getting on mercifully violated twenty four seventh's by these cartel you know snotty nosed jerk offs that are just petty well let's talk more sophisticated lang was there to offer better poetry than what you're doing here so. again so the groups that have contributed most of the one percent since one nine hundred eighty are physicians executive managers sales supervisors and analysts working in the financial sectors and professionals the legal service industry executives managers lawyers consultants and sales reps so all the protected industries without those changes is largely domestic service industries finance health care and a lot the united states would look like canada or germany in terms of the top income shares so again remember by the way we're outside you might hear some airplanes we might say there's some amtrak train going past by there you might hear a noise. around us just so you know there's noises but here so you don't see you

know checkout counter staff driving across germany on the autobahn you don't see people not off at the checkout counter there because of course they've got some dignity they have hope they have hope that. you know that they are the government's not going to prevent them from accessing the economy around them right you mentioned the government there is not going to allow for certain things and of course in america there's a huge population that equates the government with something diabolical and evil even though the government is the united states constitution the bill of rights the government is the one yeah well that's right i'm like nodding with you're not i mean we're not open but i'm not knocking out i'm nodding agree no yes and however here they are saying that the government in the united states is owed by specific groups of industries that are setting up regulatory barriers to anybody entering

that system that's why i think every millennium in the united states runs a coffee shop because there's no cartel for coffee apparently but the problems so they go through why these industries are protected and how they're protected what they say is that the problems cited by these analysts include subsidies for the financial sectors risk taking over protection of software and pharmaceutical patents the escalation of land use controls and drive up brands and desirable metropolitan areas favoritism toward market incumbents by state occupational licensing regulations for example associations representing lawyers doctors and dentists the block efforts allowing paraprofessionals to provide routine services at a lower price without their supervision so the government is erecting barriers i will nod in agreement with that. there's a big secret in america there is no government there. only corporation yes and

we're actually going to talk about that soon i want to talk about this amazon headquarters and this is very important that your cities i mean we are entering a needle neo feudal corporate state for sure and i think what we see with amazon basically pitching for a second headquarters pretty remarkable right there is part of the deal they offer to actually run the government in these towns that they're pitching for much more about this coming your way don't go away right after the break. i'm going to launch. from a straight man like me. no i'm not ready to say. something.

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welcome back to the kaiser report imax cars are time now to continue with our conversation with jamison lup welcome back so you're a third generation north carolinian i am and your avatar on twitter in holden is smoking a cigar in you i think it should a gun well get my make between great again head on if i may or may not be holding a gun you can't tell i can't tell but i see some of the fun has been holding guns now talking about decline in terms of individual sovereignty one of the things i really like about your approach to this and can you talk a little bit about what that means sure i mean to me the reason that we got into this entire mess and created this big question software and everything that has spawned off of it is simply because we for generations if not you know the entire

sum of human history have put trust in other people to take care of the accounting ledgers to take care of really power in general you know creating these hierarchical power structures and it makes sense that that has happened you know it's more efficient it allows us society to work pretty smoothly but you're making a lot of tradeoffs your you're handing over a lot of your own power to somebody else in order for you to go about your life you know being an ignorant fool but happy right the layers of trust in the system you know when you think about it everything we do on the road you're driving you're getting your licenses you're starting a business you hear various institutions and everything is layers of trust and there's government layers of trust and so going to sensually has reinvented how we manage trust in our society because it's through this protocol that is developed consensus which is not centralized and because electronic and digital it's.

frictionless or the cost is almost zero i mean going back to the old days i lived in a little town in the south of france called veal frost's and there was started with pirates saying to the residents you know give us a yearly sum of cash and we'll protect you it's our pirate ships right and that's the history of society is that you mercenaries protect the town and now that's not really needed anymore right well it's at least from the the monetary standpoint you know we we said hey we could flip this whole model upside down and instead of us trusting you know certain entities instead we're going to track everything ourselves we're going to you know validate our rules and we're not going to trust anybody and then we'll just create protocols and use the technology that has been developed over the past generation or so in order to be able to automate our communication and automate our trust with each other this i want the intrinsic value because for a second because one of the easiest ways you can make the case is to say well look

at the protocol by e-mail right over the internet itself anyone can come up with a new e-mail protocol but at this point it's only transient so universal and so troll prolific and out there that the chances of that are very small the people who are you who are in the gold camp who say it has no intrinsic value it don't understand that aspect of it and they don't accept the fact that well yeah you could come up with a new e-mail protocol but i could also mine gold on an asteroid and i could also mine gold from the sea the probability is minute so it's not worth considering a thing of that kind of funny because i actually worked on email platforms before i got into bit coin and and yeah i mean e-mail protocol it's very old it's outdated it's simple there are so many things you could do to make it better but the network effect is so huge nobody wants to try to overcome that network effect is just not worth it at this point we just build more stuff on top of it keep going there is

not that's essentially big going deaf and there's a few examples of this brother. about the technology industry the h.t.t.p. protocol you know these are protocols that darayya prolific at accenture and that have a huge value and can you build on that a little more we have these protocols that have over the years become very stable people have come to to learn i guess the kind of eccentricity is about them and it's become a standard and so once you have that standard it's it's hard to change it but you can try to extend it and you know add more things on top of it or even you know create other layers on top of it so i think that that's kind of the perspective that a lot of people in the because inside are saying is you know extend and build on top of rather than try to replace which is what some people are trying to do but there's just a lot more technical and human challenges to overcome if you want to do that it seems that despite the efforts of big banks now like j.p.

morgan or countries like china to try to derail the pickling freight train there failing is this the genius of the toshi and the worse it's going well you know it was probably inevitable suppose she just happened to be that that lucky person or group of persons who really found the right combination of technologies and game theory to put it all together i mean this goes back decades so somebody was probably going to figure out eventually right you have three things i see you have game theory yeah i've met my cast law which is the networking fact essentially where you have to increase returns economics to play the mushrooming the the old example of the fax machine you know one fax machine is worthless to fax machines are kind of interesting but once you get to three fax machines and for the value the network expands exponentially with each new node right now this is the this is metcalf's law then you have to add the answer it add to that fares and law of good money chasing how bad you put those three things together as is done in this protocol and you end up with a runaway freight train

a value asset trading that is. undefeated undefeatable and we're at the space what do you agree with that assessment that seems to be the case so far there are you know plenty of skeptics out there who believe that you know something even better than bitcoin will come and replace it and you know the market will decide but so far so good. futures contracts are being launched in getting into the game lot of people say well you know in the gold market the problem is all these features contracts they manipulate the price of they're keeping a lid on gold prices how do you see that playing on the because space there are some people who who think that you know it's going to short bitcoin into the ground but i think the more likely outcome is that you're shorting because it is a terrible idea anyone who tries to do that is going to get wrecked pretty hard well i mean look at let me ask this in other words if you look at what's happening with patrick byrne over there at overstock he's launching t zero which is zero

confirmation day which is the trading and big point is the confirmation it totally disingenious wall street to total apparatus needed to do naked short selling and all the things that have crippled the gold market for so long are going to be blown away as adoption of bitcoin takes hold so initially you might have some of this problem but the protocol is going to kill those guys it's going to kill them deader than a bag in the door nails well and this is just a transitional period right i mean when we're still we're still using the dollars the unit of account we're what we're trying to get to is the point where we're using because as a unit of account so i think it's only going to last for so many years before we get to that hyper bitcoin is a show that some people are dreaming of well i did i mean patrick byrne overstock is. on and i just angers me just think that there's still jamie diamond still breathing oxygen on this in this world that cereal tourists like that and i let me

move on so you assess identify. as a cypherpunk what is this all about so the cypherpunks of the origin of the movement really goes back to the eighty's a bunch of nerds who they saw the promise of the internet in these new communications technologies but they also saw the dark side they they saw what could happen as you know surveillance state comes in and uses these technologies for evil basically so they wanted to build privacy and hansing technologies into the internet itself on top of the internet protocols and it just so happened that you know digital money was one of those very interesting things that the cypherpunks thought was important for society to have and the number of cypherpunks worked on it for decades and it wasn't until two thousand and nine that you know suppose she came along and actually had an elegant solution there were many many attempts and failed solutions that happened before because there are an estimated four million bitcoins now that are lost you know i've lost god knows how many

bitcoin enough to buy this building probably. or who do you think about this so the actual thoughts on this and we'll never know for sure i mean you can use various methods to try to estimate that but that's kind of part of the game right is that this is a lesson in responsibility i mean it's a lesson in self sovereignty which means responsibility so the people who get into because without understanding what they're getting into they may get hacked but more likely they're just going to be negligent and they're going to lose their bit quints and that will be their learning lesson. yeah i mean i mean day people are saying i had a thumb drive i had a hard drive i had a paper wallet you know with a few books because on it i don't know where it is i lost it i threw it away i gave it away and now this is quite meaningful in terms of dollars and cents and that's the learning lesson so one of your guide to big coin survival because you're somebody who seems to keep your equipment t. intact throughout all the drama and all the price moves how do you do it what's

your what's your guy. survival jamieson lump lots of backups lots of testing i mean the main problem right now is that there is such a high learning curve and so i just tell people you know do not put any money into it until you feel like you understand it enough to be safe and so that for some people that means just copping out and you know sending their coins to what were some trusted provider for a lot of people that may be a safer option but if you really want to go like full self sovereignty full responsibility you need to put in the effort and it's we're talking not just hours but probably days if not weeks of effort of teaching yourself and then actually going through the motions of testing and doing the appropriate security measures and i have plenty of articles and blog post about the my new show yeah yeah the website with all the links that you have everything can be found on lot dot net dot

net and yeah you know go there all the time and who else is in the space you know that i follow a trace mare israeli fantastic day and. put us a lot of videos which are very good and teeter totter you know if you want to get more of a technical thing has got some really great. you know videos out there and so what do you think is going to be the next stage in this ride. you know more philosophically speaking what are we going to see in the next couple years as as the money becomes of napster ised as money is taken from the central banks the central banks get we don't need and so what does that mean and what i mean we talk about people's individual sovereignty we get battle but what does it mean when i go go in without a little bit i mean that's going to change the game significantly and so you know we're already at

a point where there are so many honeypots out there because now. this this digital money is a lot more tempting for hackers to try to get to because once they get it no one can take it away from them we're going to i think see some you know innovative new types of criminal activity and we're going to see some innovative new types of commerce and regular interaction from an economic standpoint so i'm very interested to see what happens when we can create a completely new type of economy especially one that's like based on micro transactions you know trying to get to that. what i would i would a scribe is a crypto an artist or anarcho capitalists a utopian voluntary future on the internet one example of that might be like the yours platform where you're paying micro payments to authors and you know instead of having advertising charles x.

yeah i follow him on twitter as well yes so you know the idea here is y. o. u. r. s. so yeah micro anyway i think we're out of time right. but ok it's an excellent idea micro transactions enabling more peer to peer in the financialization of everything we do in society without any intermediaries whatsoever making the incentives more clear by actually paying people you know when they give us something of value now that it will be so much easier to pay tiny tiny amounts james a lot thanks again for being the cause report my pleasure that's going to do it for this edition of the kaiser report with me max kaiser and stacy i would like to thank our guest jamison lop you can find him at twitter at la l o p t if you want to reach us on twitter it's ties reports like signed by a. woman who wants to own you on the idea that dropping bombs brings peace to the

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can change this community. we need to realize that collectively we have real power with real real power to shape our destinies and to be authors ads of offbeat so we need to seize these opportunities in an organized much. stein is getting international recognition with the help of israel at least in the world of zoos remember wolf it was dismissed it looks like you know that this isn't my cup of tea is going out the sunday i'll leave it there they're all shot without a telescope or they should be the only palestinians is gets the most help from its

jerusalem counterparts i don't think there's some of those who are in the world under the cloak of vision that not only could give us. and the earth is all of us not just the heart of this lady of the muscle that you had i not going to compete in the doesn't seem to do more camilla's last don't get results. whenever you buy a russian product you're not just getting excellent quality. for the little bit of russian soldiers who are. looking out for the special.

feed a fitting russia as the international olympic committee prepares to give it on whether the country can compete at the twenty eighteen winter games as moscow questions the political nature of the investigation into dieting offensives. also to come the former president of georgia called his office in the ukrainian capital after he threatens to jump off a roof gets arrested and then is freed from a police car by his supporters and germany's foreign minister at his home the u.s. sanctions on russia saying girl in solidarity with washington has been stretched to the limit.