stability into these markets you'll see more investment but also from that risk reward perspective you've also got to keep in mind that this is a non regulated market that's the attractiveness from people but governments have overreach like we're seeing in the media right now the deep state runs america they're trying to rewrite history here with these statue wars and that's always a dangerous time so if too many people get on the bitcoin train and get on the crypto train the government could come in one day and say it's illegal in this country we're cracking down on everybody because right now when you open up an account they they demand the k y c know your customer information and they they will when it becomes bigger they will try to regulate it and they will try to control it it's difficult for the government to let anything come out of it's you know come out of its grasp the federal reserve prints willy nilly trillions and trillions of dollars since we went off the gold standard backed by nothing now that this is a ponzi scheme the government that's what my book is about the government debt globally is a ponzi scheme the governments can never repay this debt and we're about to hit

a wall so should people invest in alternative asset classes absolutely is a leonardo da vinci painting we're painting worth half a billion dollars is an apartment in midtown midtown manhattan worth six hundred million dollars i would argue no it's not and i would agree we should prices from when i went to university have gone up two thousand percent yet where real wages since the one nine hundred eighty s. are flat so how does that work out when i got out of school i could have bought a new better match and they let me let me jump in here in fifty thousand gentlemen no i have to go to a break and after that short break we'll continue our discussion on bitcoin staying with our key. hello my name's peter and i've been living in bush you know for about seven years and this is a film of just some of the crazy things i've got full time. when you go into yes that's.

number seventeen. great for money. with not more than a forty years of history. through all these technologies it's a unique protocol. it is attracting a huge amount of capital for the for this achievement and you can't say that you

can simply go out there and create another one there are competitors of course just like there are competing species on planet earth for energy. but there's only one. at the moment. in the heart of the swiss alps this is a place probably more secretive than the pentagon more mysterious than the cia. is controlled by. the procedures in place of the strictest in all europe to pieces by artists. and camps and sold inside this warehouse that's where the report comes. naturally discreet. commercially discreet step but also discreet because they concern fraud.

some of those paintings are linked to dark secrets nobody knows how many of these secrets a kept inside the geneva freeport system you'll never obtain an inventory of all the works in the freeport who knows how many there are three hundred three thousand three hundred thousand is it a matter of confidentiality only is it the world's black box of the odd business. i. gotta tell you we're starting i was. i. was. i got the

overdose own. welcome back to crossfire where all things considered i'm peter lavelle to remind you we're discussing bitcoin. here let me go back to you in cambridge while it is fascinating concept these crypto currencies there is the concern of accountability you know illegal drugs arms and other kinds of illegal activity can stay stay under the radar of the authorities i mean i think that's a kind of a downside also you know when people talk about it is being a new fee currency one day i mean you know people are buying big ticket items because they are avoiding taxation and things like that so i mean in a kind of cuts both ways here i guess really the most important question will be if

this kind of crypto currencies are successful what is the temptation of governments to step in to regulate it and would regulation kill it go ahead. right now it's been very interesting to watch the migration of regulatory interest across this space mean first we had law enforcement with the rise of the silk road in the online dark web so use of big coin take an interest in the sector more recently securities regulators and with the up swing in prices i'm sure tax authorities are kind of next in line to to start getting involved with regards to law enforcement question you know it's a it's a double edged sword for law enforcement because on the one hand you know you know these these currencies do enable privacy on dark web transactions but on the other hand law enforcement when they catch a criminal who's been using big quiet and they get a hold of their wallet software they get effectively their books and they may have a good chance of recovering some of the funds and that's not something you get with the cash criminal where there isn't record keeping so you can use the block chain

to prosecute cases and that has been done and law enforcement i think at least in some jurisdictions is steadily becoming more open to seeing crime committed with with watching technology does give them advantage over cash crime ok it's a very transparent technology that's sort of amazing plus for jeffrey earlier this week there was a san francisco judge putting pressure on a company that trades in these commodities and these currencies here they want to see their books they want to see names they want to see transactions here what kind of threat is that tube it going or can big coin evolve with this kind of supervision and regulation from the outside because my sense is or maybe you can correct me if i'm wrong the people that started this whole thing don't like the state they don't like authority they they really want to be on their own here we're going to see it encroachment on this on these kinds of. currencies and you know alternative financial mechanisms go ahead you know the regulation of the exchanges

began in the spring of two thousand and thirteen so far as i'm concerned it was a disaster. we would have been much further along without these regulations this is the main way the government can control because it's not actually controlling because what they're doing is controlling the traffic between national monies and crypto assets coming and going they can control that and the u.s. has some of the worst regulations in the world. crypto assets right now on these exchanges well you know but why is that you know jeffrey why is that markets are global why is that what a lot why is that situation exists in the u.s. well because the regulators are trying to force a modern digital technology into an analog old world style regulatory framework and it's not working and all this doing is driving the innovation out of this country and other places you know you can buy bit climb much easier and

a place like israel then you can united states or in brazil you know i've i've i've been to exchanges all over the world most of them are very free and easy and there's a lot of entrepreneurship there in the u.s. it's all about command and control it's a huge mistake for american regulators to be taking this direction because they're just going to drive the innovation and the capital outside the borders but he went and crypto assets in general are global technology if they don't care about the nation state ok mitch you know address that issue there because i mean the all mighty dollar it's a threat to a bit calling it all these other things are a threat to the the global domination of the dollar and it's obviously something the u.s. doesn't want to have happen i mean you're. right we're talking about u.s. dollars a gemini and you know my view is us the days of u.s. dollar germany are our very limited look before the united states became the reserve currency i think in one thousand thirteen when they created the federal

reserve which is a disaster that should be shuttered. we had the british sterling was the reserve currency of the world for three hundred years now was the united states responsible with the petro dollar and going off the gold standard in the nixon era i would argue no i would argue that this is caused market distortion i would argue that the central bank policies in the last ten years have been more destructive than the good that they've provided because i don't see that we've created a growth for the trillions of dollars in debt that we've created now the as we saw in the last administration in washington big government is in right now so are our government is gargantuan and they want overreach with everything in every part of people's lives in america and to do that if you get an iron fist on the banking system and make people take away cash like one of the professors at harvard wrote a book to get rid of all cash make people put their money into the bank this is

this is a very dangerous thing that's why people are migrating to other platforms so we're at a point in time in history that could be very pivotal pivotal as to how we move forward with this but you know the media is controlled and if you look at regulation they don't regulate companies like amazon that dips their fingers into everything and every different business or facebook or google they have become oligarchies oligarchies and basically these are they're controlling the content the everybody sees and this is where the regulatory agency should be looking not to control people's currency movements or whether they want to buy gold or invest a bit in bitcoin they should look at controlling the facebook's the googles and looking at news the news and it is because news in this country has become opinion and political advantage see and this is a way for the liberal left to read. history which is extremely dangerous if we look mark thompson who ran b.b.c. during the jimmy seville pedophile scandal snuck out of london and came to run the new york times and people have forget about history and where people are and how

they move around but the same establishment figures are running things well one hundred sixty companies used to control the media now it's down to six in can one of the things i can cambridge one of the things i find appealing about bitcoin and i'm i can't say that i'm an expert on it by a long shot it seems to promote entrepreneurial ship which i think is a really good thing again you know people that want to get out of the system away from this is the way for regulation is it fair to say that this is crypto currencies would be good for innovation. i think absolutely i don't think anyone doubts and i think actually you know it's you know i think people can argue about how bad the regulation is but but in certain markets there's been a very pro cryptocurrency attitude because of the innovative aspects of it and people are taking a much lighter touch in switzerland in the u.k. even in elsewhere because of the amount of investment that's coming in because of the you know faster cheaper better ways we can do things with this technology and

not just the technology itself but also the new funding channels that are opening up i mean the i.c.a.o. phenomenon which we haven't really talked about is is on the one hand scary because there are some projects out there that you know clearly are fraudulent but out at the same time you're also opening up access to early stage technology to seed stage technology to anyone around the world with an internet connection this used to be something you had to be a rich p.c. be able to do now if you have a computer have a little crypto currency you can invest in early stage technology that has a lot of risks and it also has a lot of opportunities it's personally for me i think an exciting part of the story you know. i'm glad you brought that up ok jeffrey go ahead jump in not just i'm glad you brought up this point about the i.c.a.o. because they've been kind of smeared in the financial press as being. that it's true there are some there's some rackets out there but the truth is that this is an amazing innovation yeah that allows people to raise any business to raise raise

money from anybody without using any financial intermediaries that means with the amount of innovation that capital that's going to unleash on the planet earth is beyond belief i mean it's inconceivable what the i.c.l. market could do to transform the nature of capital markets themselves over the next ten years mitch go ahead jump in. the issue the issue with the i.c.a.o. market as i see it it's an exciting market but it's the wild wild west in early days and what's going to happen is that the the propaganda bullhorns of the media and advocates for the j.p. morgans and the goldmans who are being infringed upon when these offerings come out and they're not going to get their fees so what will happen is they'll make an example out of one that fails like the media does the have you know blow it up into a epic proportion this is bad you're going to get ripped off don't do this give us your money only invest through something that we vet for you so there will be winners and losers and you have to keep the perspective like i said at the

beginning there's perspective and risk and reward and don't you know don't go out mortgage your house and put everything in into bitcoin or i.c.a.o. but look you look at this is as a portion of your portfolio and have a diversification in your portfolio and when you when you go into a high risk thing like an i.c.a.o. do your due diligence do your own homework and like i say in my book don't ever invest in anything that you don't fully understand if you don't fully understand it and you invest in it then you deserve to lose what you lose but you know if you give it your best don't put all your money into it don't put all your eggs in one basket diversify put a little bit into it and if you take a loss on that and you make a profit somewhere else then you can balance out but your payout with some of these is going to be exponential as we we've witnessed before the problem comes in when you try to harness the volatility ok gary in we go back to you came in to give you the last word here what does bitcoin and similar currencies what do they have to do to create confidence in people that just see it is too risky what may be one or two

steps they need to install. well i think you know similar to the mid to late ninety's during the dot com kind of right up we're in the infrastructure building phase for crypto currency crypto assets i mean yesterday we had three major exchanges experienced significant problems two of those exchanges are going to be relied upon by c.m.e. for their futures market that simply can't happen you know on a regular basis like it does for this market to be taken seriously by institutions to be trusted by a broader class of individuals so more capital markets infrastructure is needed the right balance of regulation is needed and i think people absolutely need to understand that this is a you know it's still very early stage very volatile i agree with you know the comments that have made about only put into this what you can afford to lose because it is still very high risk ok well it's been an interesting ride i'm sure we're going to see a lot more ahead that's all the all the time we have gentlemen many thanks to my guests in new york atlanta and in cambridge and thanks to our viewers for watching us here at r.t.c. a next time and remember. i

had a great education a good job and a family that loved me. to warry about how it would be somewhere i would sleep. but i'm facing christmas alone on the streets of london. well you look. like little you like. you know just the still go to the. stupidest thing that you could be. and then. this came over to me this will be in charge of this book.

it's the cradle of jazz. the america the america we. know this jazz feel. the city have climatic contests trophies alligators on the loose of poverty and crime are used by the at least twelve members of my family close most. of street racing in the heat of the night this is new orleans. the best place in the world. all to see we have a great team we need to strengthen before the freefall world cold and your backs

have been a legend to keep it so it's at the back. in one thousand nine hundred two that must qualify for the european championships at the very last moment no one believed in us but we won and i'm hoping to bring some of that waiting spirit to the r.c.c. . recently i've had a lot of practice so i can guarantee you that peter schmeichel will be on the best fall since my last will come from that steroids or three. thousand zero zero zero zero hitter here i call russia. nice try. left left left more left ok stuff that's really good. hello my name's peter and i've been living in bushnell for about seven years and this is a film about just some of the crazy things i've got soaked through in the time.

when you're going to get up yet. i don't need to just. thanks.

to tremendous courage. washington throws its support behind the anti-government uprising in iran threatening sanctions against tehran if it attempts to peaceful protests. across the middle east over the us president considers cutting aid to palestinians. but not wanting to talk peace. and of the north korean leader trade barbs over the. power of their nuclear arsenal . direct from our studios in moscow this is our trash from the glad to have you with us now seven days of unrest in iran have now been brought to an end that is according to the chief of iran's elite military force the revolutionary guards but

it has come at a high cost as at least twenty one people have died in clashes over the past week the demonstrators are. in demonstrations are a. thought to have been triggered by widespread economic hardship and the prospect of a fuel price hike they quickly became political in nature with protesters calling for the deaths of the country's leaders in violence then erupted in several towns with police posts attacked in the past several days there have been four hundred fifty arrests in tehran alone trump administration meanwhile has threatened to impose sanctions if iran fails to respond to the rest in the way washington deems appropriate. don't get ahead of sanctions but that is one tool kit we are watching reports very carefully of any potential human rights abuses of these protesters who are protesting peacefully we are now seeing an organic popular uprising organized organized by brave iranian citizens on the largest scale since two thousand and

nine the united states supports the iranian people and we call on the regime to respect its citizens basic right to peacefully express their desire for change people in tehran for their thoughts on the protests and the encouragement coming from abroad. but this is not giving that that i feel that if people's economic problems were addressed these accidents would never happen again if someone from the government came and spoke to them these incidents would not escalate. the cost of living unemployment and lack of attention to people authorities say that this problem started with the surge in the prices of basic food supplies. you need that pass on who says time for change should think and be worried about their own country and the rainiest should think about their country everybody should start by trying to make progress at home. i don't think trump should interfere in our

country's issues i don't think our issues are any of his business the u.s. is also calling for an international response to the unrest in the country washington's ambassador to the un nikki haley has even called for an emergency security council meeting to discuss the situation in iran it takes great bravery for the iranian people to use the power of their voice against their government if to rein in dictatorships history is any guide we can expect more outrageous abuses in the days to come the u.n. must speak out during the same news conference nikki haley also faced questions over the united states attitude towards the palestinian people. now you so strong when it comes to the freedom and dignity of very indian people you have but you have a different meaning of freedom and dignity when it comes to the palestinian people will be they will be in brutalized for over fifty years of occupation the palestinians now have to show their world they want to come to the table as of now they're not coming to the table but they ask for aid we're not giving aid we're

going to make sure that they come to the table and we want to move forward with the peace process shortly after that the u.s. leader himself suggested cutting donations that to the palestinian administration in a tweet he claims that despite giving them hundreds of millions of dollars each year that they show no appreciation or respect to the united states trump also suggested cutting aid because according to him the palestinians are not willing to talk peace with israel however that is something that the palestinian ministration does not agree with in fact the president's office says that the jerusalem is not for sale and that they are not backing away from negotiations but stressed they should be based on international law last year the palestinian authority received around three hundred million dollars in aid from the united states that's quite a sum but that pales in comparison to the three billion dollars that israel received from washington in any case though mostafa barghouti from the palestinian

national initiative says palestine doesn't need foreign aid to sustain itself. the worst thing in his statement in his twitter was his declaration that he's taking off. from the table of negotiations he's deciding unilaterally what is it and one and he still wants us to come to the table which is simple the main beneficiary from the money that is coming to palestinian authority is israel you might be surprised about that but most of that money goes to funding security cooperation with israel and israel is in need for that security cooperation not palestinians we are not dependent on foreign is as a matter of fact the total amount of money that is coming from europe from the state and from other countries is no more than sixteen percent of the budget of the palestinian authority while the public palestinians are paying with their taxes eighty four percent of the cost of the palestinian authority in my opinion. that

money is not is not going to affect us seriously so he can take it away. iran palestine north korea all have been on the sharp end of donald trump's twitter outburst late as the u.s. president continues to pioneer his own unique brand of social media diplomacy and if you got it done of explains concern is growing that his online incentive could have serious real world consequences. christmas the new year even the seasonal holidays haven't put the brakes on trump's twitter train in twenty eighteen pakistan got it first. the united states has foolishly given pakistan moon thirty three billion dollars in aid over the last fifteen years and they have given us nothing but lies and deceit thinking of our leaders as food they give safe haven to the terrorists we hunt in afghanistan with little help no more no love lost their trumps administration has been walloping pakistan for months but it's not like

anything in particular happened on monday to trigger the backlash but to say this tweet got a slam about an age would be an understatement three ministers including the prime minister the army the navy and air force chiefs all converged for an emergency security meeting following trump's post the us ambassador was summoned for an explanation as protesters burned american flags in the streets then it was the turn of iran one of the biggest thorns in donald trump's side. iran is failing at every level despite the terrible deal made with them by the bammer ministration the great iranian people have been repressed for many years they are hungry for food and for freedom along with human rights the wealth of iran is being looted time for change the islamic republic has been erupting in rallies and briards as people have been swarming the streets both against and in support of the government people died the

tweet hasn't gone unnoticed in iran urging against the violence president rouhani denied to trump the right to sympathy. as with the nation well when done with the middle east trump couldn't help but pay the classic twitter tribute to his one and only rocket man. sanctions and other pressure is beginning to have an impact on north korea soldiers are dangerously fleeing to south korea rocket man now wants to talk to south korea for the first time perhaps that's good news perhaps not we will see well apparently this was donald trump's knee jerk reaction to south korea offering to hold high level talks with the north to pyongyang suggested the countries should meet to discuss the next olympics it's not government policy it's the. ravings of a person who speaks before thinking tweets before thinking you know one would hope that the people on the receiving end of these things would take them with

a grain of salt because. you know trump may say those things but he can't act on them because he's got a whole bureaucracy behind him that doesn't agree with them so. it's very destabilizing and i think it's undermining u.s. ability to negotiate solutions to problems so whatever policy don't trump is concocting stirring trouble on twitter is something that is going to stay it was done of. well as we heard there of all the world's leaders north korea's kim jong un has perhaps been criticized the most in donald trump's tweets and after the isolated country's leader issued a new year's day nuclear warning to washington the u.s. president was keen to hit back. the entire u.s. mainland is within the range of our nuclear strike and the button is always on the table in my office space you clearly know.