just to test the cultural shift past this business equating the with the flames. of shock asked about don't. give you some of my jewish but you might. make up the prices here at the state did you get the state and i got what you wished they could talk to you. does that leave me. with a chicken. which i shall not want to. hear what you speak of you are you speaking of. the p.m.s. testing discussed the custos threatening just over your misdeeds at the peers do so but are both the bush hater we didn't come down you push the school we may be standing still. or

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. in some american cities the police sort of build them soon schooling to ricky tunisian people who walk on the street to the united states who are at risk from the very people who are supposed to protect that people are no more afraid of the police than move on from the most. you can see something happening in this is like i don't want to call the cops let that happen rather than call the cops in those young black men lose their lives chasing the same goods on the trigger you never know better safe than sorry i don't know that someone else is going to pull a gun so. unfortunately around around here we end up killing our guns off the death toll from such precautions to.

twenty eighteen what will see our central banks adding bitcoin to their strategic reserves alongside gold so big gold buyers like china and russia will be adding bitcoin to their strategic reserves song the banks possibly about as well as they could completely change their fortunes in the global economy by switching over to crypto switching over to bitcoin and then that will set a precedent for other countries a policy. where is that country call russia no one's ever no one has ever heard of the country never even heard about most.

the utter. i. mean a little bit of a bit of a little. life

among the ruins people in mosul about my struggle for survival find months after being liberated from islamic states. the russian foreign minister describes america's threats against north korea as unacceptable during a phone call with washington's top diplomat. and an israeli politician is filmed unleashing of insults of palestinians on their way from gaza to visit their relatives in jails. more of these stories had to stay the same out of the kaiser report talking about the vast quantities of bitcoin doesn't last forever due to people forgetting the passwords.

i am ask either this is the kaiser report hit the. states. max. up just follow this. ok audience max. now give us your password to your big coin wallet max. tell me i love how i don't just. write you no matter what today's boxing day and that's why i have this little flag of st george on there oh yeah. so there's been quite a few interesting headlines it's been chaotic in a whole big queen world and saying chaotic in the financial markets equity markets leading up into the christmas holidays here's a headline from fortune desperate big queen investors who forget their passwords

are resorting to hip no therapy you actually tweeted this and i saw this right before we came in to record this and so i kind of skipped over the present the gift i was giving to the audience of the other headlines so what do you have to say about this or somewhere in everyone's collective minds are all the passwords to all the crypto everywhere it will rain down on humanity billions and billions of dollars as we collectively reach the password needed to unlock mark to post over there about dogs he's going to be a billionaire this year thanks to being the magic of pseudo should not go to people who have lost their passwords need to go to hypnotherapy immediately and unlock those passwords using the magic of hypnotherapy just think about the password where you were at the time you were engaging in that word that unlock your wallet and you can be an instant billionaire i've lost so many passwords over the years somebody bit coy and given away so many but i don't care anymore because the world is

changing profoundly due to blogs and crypto bit coy in a way that will mean the end of jamie diamond and his tapeworm vent to see is i don't need money i love. actually there's you know if you go to read it or various bit talk forms you'll see a whole series of people linking to their big queen on the block chain saying help i got these hundred big queen there and like twenty ten and they were only worth twenty dollars and i lost the password can somebody help me get these that's amazing it's so biblical in some way you know there's a pilgrimage people go on through their minds trying to find the touchstones of their own lives to unlock the past for for the big coin. you know this is going to go on for another guy very like one hundred million dollars in a limb still because it was strapped on as hard drive well actually i was going to mention that he is actually offering now a ten percent to anybody who could help him get his hard drive works in there it'll

soon be worth a billion dollars and you know just like i go on treasure hunt and they go down into the deep blue sea looking for hidden treasure and rex with lots of gold on there you know they're going to be digging through the landfill to get that hard drive well you know there was another gift and that is the tax reform but we're going to get into that the next episode because you talk to michael penta when we were in new york and i'm going to save that for the next episode but because we're talking about in the second half you have a very fascinating interview with this guy with about handbags and michele locks going to really love that interview because i want to talk about stores of value because this is been a big debate that's been raging obviously this big cash because mine. versus bitcoin cast all these sort of is it a store of value is it a means of exchange what is because well investors are dumping gold to buy bitcoin say strategist

a key trend of the gold market has just been broken and big going could be to blame the gold miners e.t.f. d.d.x. is falling nearly fifteen percent from its september highs while gold has plunged to lows unseen since the end of july. this is curious says larry mcdonald head of u.s. macro strategy at a.c.g. analytics as the move lower in gold has also been followed by a move down in bond yields which according to the strategists is very rare of course after this article it did kind of swap a little bit by neil started to rise and start to rise as well but yes well we've been saying this for quite some time there is a move out of everything into bitcoin and this is part of the big black hole is pulling gold right now gold and silver is being pulled into the big black hole because it's a superior store of value centrally and nobody wants to carry around pounds and pounds of silver in kilos of goals that really you know i mean when you can put all

this on a thumb drive or memory wallet and then lose the memory wall and then end up in a landfill picking through diapers looking for an old hard drive so he says that there was an eighty two point five percent correlation between bond yields and gold and that spend broken at the moment because of bitcoin is what he blames he also sees that there's more downside risk to gold because he says if you add up all the cryptocurrency and the liquid gold that is in the market right now the cryptocurrency is a market cap are now twenty three percent of the liquid tradeable gold that is up from two or three percent a year ago so krypto currencies are definitely eating in to the gold play well you know gold is not a finite supply you know they're adding to the tons of gold mine every year hundreds of tons of gold added to supplies supply is expanding in twenty eighteen what will see our central banks adding big oil into their strategic reserves alongside gold so big gold buyers like china and russia will be adding

bitcoin to their strategic reserves some banks possibly in venezuela they could completely change their fortunes and the global economy. switching over to crypto switching over to bitcoin and then that will set a precedent for other countries to follow suit well in fact both garia has like three billion dollars worth of big coin that they seized from some scam so that's actually the benefit you know in the early days of bitcoin one of the things that was often said by governments who said or threatened they were going to shut it down or attempt to shut it down was that it was you know a haven for you know no good do gooders like drug runners and drug cartels and hitman and all that sort of thing but a lot of those people a lot of the scam artists on line scam artists and shakedown artists are based in places like boag area romania so the fact that they get to seize the assets of these bad guys you know you become a safe haven for bad guys and you can seize all their assets that's right it's not

a bug it's a feature look i'm talking about bad guys with money launderers and evil doers and crypto currency is let's not forget the twenty to thirty trillion dollars held offshore unaccounted for by any tax authority that money is always looking for safe havens that money is always buying fine art and yachts and that money is inching its way into bitcoin that's another you know ten thousand percent gain right there from current prices then you've got the hedge funds nibbling at it then you've got more apps like the one from. the cash you know the people over there where square you know they've got cash you know there's going to compete with coin base and it'll be millions more people getting into it you mentioned hedge funds hedge funds are pulling out of gold and seeking thrills elsewhere hedge funds are pulling out of gold bets as more exciting equities and crypto currencies make safe haven investments boring money managers cut their bets on a bully on rally at the fastest pace in five months as prices headed for the worst

quarterly loss and a year speculators are throwing in the towel as the metal failed to sustain the gains that took futures to a one year high in september of course throwing in the towel is a good time to start investing. right there is a concept in investing called capitulation when all the sellers have sold there's no more sellers left you know and then any buying on the margins will start to rally and you start the whole process over again on the bull side so i think twenty eighteen actually in a contrarian point of view will see gold it all time highs which would be roughly a sixty percent move from here let's say which is not very interesting if you're a crypto this enthusiasm but nevertheless it would hit a new all time high yes some of the old coins especially because they're lower market cap. will rise like up to seventy five percent in a day so it's pretty crazy but speaking of bitcoin and hedge funds bill miller's hedge fund has half of his money and big queen bill miller is giant in the

investing space he was at legg mason for thirty five years he founded their s. and p. five hundred investment fund at legg mason and remarkably he says that there are fifty percent right now partly because of the price rise he got in i guess and before six thousand dollars. between two thousand and six thousand dollars he got them and it's because of the price rises now makes up as a percentage of his fund it's fifty percent bill miller was beating the market for decades and then he had it down here for a couple down years he kind of retired and now he's reborn rising like a phoenix in the crypto space and as his performance numbers come in pentair our capital i think is the name of the group they reported twenty five.