if they actually couldn't afford so these headlines do together and it tells an interesting story for twenty eight teens paying down christmas debt how long will it take this is from michele bachmann he provides this chart consumer credit outstanding going back to one thousand nine hundred sixty eight the red line on the bottom is the revolving credit like credit card debt that hit a trillion dollars in the past year but the yellow line is non revolving debt which is things like student loans auto loans mortgages and you can see that a sword now the thing that he points out on this chart that's quite interesting is nine hundred seventy one nine hundred seventy one when nixon took us off the gold standard which allowed for a lot of the debt we're going to go deeper into that with another charge he provides in a moment but what do you say about all those debt that americans have they added an average of one thousand and fifty four dollars in debt over christmas to be in debt is to express your true self as an american and

a part of the western consumption culture card debt is by definition your identity your credit score is who you are and when you combine social media as are doing in china any time you step out of line if you spit on the subway your social media index is degraded and your cost of funds goes higher and you get deeper into the casino gulag remember entering into the era of the casino good leg where people are glued to their virtual reality goggles playing video games all day for credits on shopping and if they fall into line they get electric shock after shrink spring and it hurts really bad but it teaches don't try to escape the casino gleg so happening in china it'll happen in america it's already been around in the u.k. for one hundred years but nobody's really noticed because they want to pay attention to the u.k. actually i did see over the break some journalist and a woman from america who was traveling by train from beijing to or something like that and. mentioned that over the loudspeaker there were. and then mount st comes

every half hour so that if you break any rules of traveling on the train that it will affect your credit score your social credit score that's exactly what i'm talking about social credit score tied into massive surveillance and billions of surveillance cameras are coming to work if you are a personality behavior and character so that you never stop sinking about clicking on ads so mark zuckerberg is the let's face it he's the anti-christ so you're saying that ad blockers for example if you use an ad blocker so that you could freely browse the internet without having ads pop on you that lowers your credit score they say you're a bad bad consumer strengthening the case so much in west hollywood they love that kind of thing so talking about debt let's look at the numbers that we have here bouncing back from these purchases won't come quickly only half of those surveyed

expected to repay the debt within three months others twenty nine percent say they need more than five months to pay off their christmas debts often leading to interest on the credit card debt and growing balances in fact ten percent of the people who took on holiday debt said they will only be able to make minimum payments on credit cards if the shopper spent one thousand and fifty four dollars and paid a minimum of twenty five dollars each month he or she would be paying down that balance until twenty twenty three so they they've incurred temper some of these people will not be able to pay it off until twenty twenty three those who are paid up because it'll be intergenerational it will be passed on to your heirs it will go on for perpetuity they'll be no end to it this thing that we will leave as a society is debt the egyptians are the great pyramids we've got the great credit cards you know unlike ancient civilizations of the past with their great monuments and temples i think we'll have our landfills and credit cars you know especially leaving behind. and so in l.a.

and civilization show up and whatever they do show up finally when it's safe to come to this toxic orb they'll say oh my god it's safe to go there because all the people around up all the dead are now gone so it's a good thing of course to see that in twenty eighteen max is not stopped with his. doom and gloom about the toxic nature very thing just so you people are worried but of course speaking of this average debt of one thousand and fifty four dollars a lot of people by the way in the new year at american airlines at southwest airlines and various companies i'm out around america announce that they're giving a thousand dollar bonus to every single employee clean part time employees because of the tax cuts so under the rockefeller gave kids don't name on the street while he was plundering the economy and then you know rapaciously destroying any underpinnings of a sound economy here kid have a dime this cash this nickel between your teeth be my friend you know so what they

give a thousand dollars is going to go immediately down to pay off their visa or master card they're not going to have it let's say by big coin there do going back to this chart that highlighted that debt has exploded since one thousand seventy one when nixon took america off the gold standard and the us took the entire world off the gold standard by the way i did buy some gold over christmas so i'm going long gold again just so you know i think it's you know i guess full disclosure regarding this headline so he's explained the credit bend and he says the availability of credit exploded after nixon closed the gold window on august fifteenth one nine hundred seventy one at that point nations no longer had to spend their gold or hike interest rates to stop the flow of gold and trade deficit balances and this is a remarkable chart that he provides eric because i haven't seen it put like this but this is the balance of trade this is one nine hundred seventy one for america their balance of trade with the rest of the world had to stay even because

otherwise you're sending your gold over there member that we had to send navy ships full of gold to france when charles de gaulle asked for back here you see the balance of trade since then it's just gone this is us getting free goods from the rest of the world we just have to pay dollars is as worse than any of the worst of the all the coins. i would say use the word that is often used boxes about what they call oil coins but it's on mentionable on air that's correct is it appropriate for a family show like this one to call the dollar by its rightful name the kiss off ha . which is a little known dialect on a faraway planet which means. actually you know to stop or sing it comes from the latin prefix of. which we carry forward to this day and we so you know we've been talking about this this is something that we've been highlighting on report since two thousand and nine is the absence of a gold standard has allowed for the explosion of debt whether or not that makes

people more free i don't think so i think having all this debt probably makes you less free i think this is why you see the millennium as the younger generation people pouring into things like the queen and all these other all kinds of crypto currencies this is a direct result of what we've highlighted in previous episodes where this debt system is the real ponzi scheme a socialist thing that the likes of jamie diamond say bitcoins a ponzi scheme well this this is the biggest perpetrator of this but this ponzi scheme that is called the consumer credit outstanding economy just years dollar is is extremely dangerous to the world economy as well as the world ecology because it is not only the consumption inappropriate outside of a gold standard but all that consumption leads to equal hola cost which were suffering now with the polar vortex and the fact that moscow is now like florida florida is now like siberia that's all because of the gold standard been abandoned that's why russia is buying gold that's why china is buying gold because i want to

bring back discipline to man of course bitcoin solves all these issues but as i said i've been buying gold recently because i think the what turned me on to it again was the fact that it became so so so hated we covered the story where hedge funds were dumping capitulating on gold dumping all their gold shorting gold and going ending all their long positions and i thought you know they were all pouring into big corps and i thought well mouse probably egg. time to go long old again because this is really those blood on the street moments where it's so hated and reviled not even just like in a passionate way just like it's so boring and listening to kaiser a poor max said gold is so boring so many times i decided to go to your country and yeah i listen to you and i go visit what you had said but. i'm with you on that i think the gold twenty is going to be good year for gold and silver because it's

been basically sold off to the point where there's no more sellers so once you run out of sellers any marginal buyer starts the price action in the opposite direction and then that feeds on itself and you have a new resumption of a bull market trend that's the way markets going to work it's been that way since adam first sold that apple to eat i know in the second half you're talk to richard hard again and i'm going to get my. endure this weather here and go along the show because states and for the second half of part two richard hart say there. here's what people have been saying about rejected in the us is it actually does pull on. the only show i go out of my way to you know what it is that really packs a punch. yeah it is the john oliver of mark to your marriage is the same. apparently better than blues. and see people you've never heard of redacted tonight

the president of the world bank very. seriously he sent us an e-mail. los angeles the city of luxury and three. alarming number of people living in the streets. a simple fact in no way he's just not in a shelter even if people on the streets right now decided to come in there's nowhere to come in it's been. this man's bone. his own response to the problem and constructed dozens of tiny homes for people in need of shelter when you have nothing in order to go. you know having something like this may as well be a castle but do the authorities accept such solution time you house on a city parking space is not a solution your curve to someone wanted touring the site otherwise it will be

a free for all and is there a better alternative to end the homelessness crisis. in the heart of the swiss alps this is a place probably more secretive than the pentagon more mysterious than the cia and better guarded than for knox swiss customs are here permanently all the science is controlled by them and they impose the opening times so if you go up with it it is from stop us the procedures in place of the strictest in all europe must to pieces by artists like pecan so and modigliani a camped boards unsold inside this warehouse that's where the report comes in it covers up deals which are naturally discreet commercially discreet strict but also discreet because they concern fraud of some of those paintings are linked to dark secrets nobody knows how many of these secrets a kept inside the geneva freeport says reflection that 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 art business. i played for many clubs over the years so i know the game inside out. the ball isn't only about what happens on the pitch put the final school it's about the passion from the fans it's the age of the superman each kill the narrowness and spending two hundred twenty million on one player. so it's an experience like nothing else i want to because i want to share what i think of what i know about the beautiful game but great so one more chimes for. the base this minute.

welcome back to the cars report i'm nice guys are time now to continue our conversation with richard hart big oil at this yeah asked oh gee original gangster i'd say who knows what he's talking about when it comes to technology derivatives trading bit coy crypto he's got an outstanding you tube channel that i watch along with the world trip down network also on you tube which is an outstanding channel to cover what's happening in the big call in space richard welcome back thanks for having me first of all a quick kind of housekeeping thing because a lot of people watching this might be new to the crypt of new typical and what's the best way to secure your private key is richard hart tell the people tell the audience out there what's the best way if if you want to be in the cryptocurrency space and have control over your money if you don't have the private keys it's not your money so if you have money in an exchange in your name you don't have the coin

you have ious you have little tokens that maybe they exchange honors maybe they don't they get hacked maybe they lose your money so you really need to have your own private keys now it can i got in this game you generated private key there'd be no easy way to remember what it was because of the long computer generated numbers and letters then someone came along invented this cool thing called h.d. wallets i mean it's hierarchical deterministic and it just means that you remember the series of words and as long as you have those words you can generate infinite new and private addresses from them and so this you know let's call it twenty four words seed. you can choose the one for the pentagon software use. it is all you need to access all your funds for ever so this is the seed phrase this long series of words as long as you write it down stored a couple different places you always have access to your funds forever and very

important that you are the only person that has access to the seed words because someone else gets access to them they can steal your money let's talk a little philosophical here you know you are talking about of course bitcoin you've got the key importantly as one of the chief features of bitcoin is that it's completely outside of all governments all corporations it exists in a parallel financial universe you could say and this is one of the greatest things about bitcoin is that you are now individually sovereign as our friend jamison loblaws likes to say so you had mentioned in a previous show that libertarians in this space they love it but they forget that there is a case look there's a history of cases and legal precedent of why certain laws came into effect so my question is kind of philosophically here on one hand the bit coy essentially makes

governments obsolete in many ways they make central banks obsolete you can transfer value back and forth and you don't need intermediaries you don't need the whole system on the other hand you have some what i would call an arc a capitalist in some cases are libertarians who believe that this should be taken to the nth degree and we simply have no governance whatsoever no governments at all where do you come in on that debate richard it's too easy to forget the harm that is laid upon people that may not be as smart as you. so you may be able to tell the difference between a real big corn and fake corn but most people's grandparents cannot and it could cost them their life savings i think that most anarchic capitalists and libertarians support laws against deceptive and fraudulent advertising i don't think any market or any capitalist society works better with

a bunch of fraudsters lying cheating stealing colluding price fixing. rent seeking and creating monopolies i think those are the enemy of all well functioning societies and an ounce of prevention is worth a pound of cure so the easy way to prevent terrible horrible things from happening in large numbers to stupid people is to have laws which regulate and set a referee to allow fair free market you know people forget what the word free in free market means it means regulated it means there's rules that must be abided by it means there is a referee to keep things fair you know if you played a sports game and there was no referees everyone would get their eyes poked out everyone would get their fingers bitten off and then some smart person would come along and go you know what we ought to have a referee for this it would make everything work better the financial markets are

the same way so light hands off as laissez faire as can be but with a strict playing field so that people can compete on the merits of their offerings and not collude cheat lie sabotage and make the world a worse place you know you if match and that you don't invest in the so-called all toys they hundreds and thousands of competing crypto coins out there and a couple of questions one is. are you a big point maximalist and explain what that means and second of all to follow up on your previous answer there what about this concept of a distributed autonomous organization because some of these crypto is are all going to do go down that path and it seems to address some of the issues you're bringing up there. richard there are things that other tokens can do because you cannot and

it is likely that there always will be so if you're interested in strong anonymity your options are either tumbling in coin mixing your because in which you've got to be pretty smart to make sure it worked you got to make sure the coins you sent you got back different ones they could just send you back the same coins and then you've tainted yourself right but other projects are better at that for instance marrow it's better at that and there's other projects which focus on anybody or better if you want to really cheap transactions at lower security tons of all coins can do that they can't because lightning network isn't fully rolled out yet you know there is a place for because. as a settlement layer for tier two things as the most secure network but there's also a place for you know other use cases like anonymity like super fast transactions like super cheap transactions until tear to him because he rolls out you know once we could drive chains inside chains all those experiments can be run next to big going but with the same liquidity pool it will be amazing. but they're not here yet

and so you know mid term short term you know there's a case to be said like for instance like when money's coming in the coin base there's only four things you can buy in there and people have a unit bias towards the cheaper ones because they want to whole coin not point zero zero one of a coin. so you could make a case to be along those things in the short and medium terms until milli bits gets there you know. you know and also if you're a big point holder you can't be a big list anymore because they keep handing you free air drops in three four points so even if your big maximalist you're still getting handed free money for hold because. you know i mean dick when maximalist it's almost dead just because of all forks in her drops and i like a project called by paul and they still give them out free to bequeath holders that's pretty cool you know free money for a really cool project. hard to turn that down right absolutely by paul people

should check that out i want to return to our conversation about bitcoin cash of course the highly contentious plagiaristic spinoff of bitcoin and it's just so people understand because there's one notion out there the wall street crowd will say well the price is all we have to look at if it's got a high market cap and the price is high that's all we need to know and the law law we have been a is a law of high prices and it's right it's it's high priced and they ignore the fact that in this case you've got a concerted effort to sabotage bitcoin and can you walk us through for example how spamming the bit coin network works walk us through how a bad actor could assault bit coy in favor of let's say a spin off and just go through that you know the bullet points and that's a people have an understanding that there's something

a lot going on under under the surface that's not covered by m.s.n. b c the i'm sorry c c n b c these other outlets rights are god the concept of market cap is fatally flawed so if i were once again to make a copy of the kaiser report and call it as your report cash and then take your market cap and then just assign some percent of it to my new thing that obviously would make sense so let's take a look at what they do be cashed. we make a copy and then. no one can trade it no one can sell it because they don't have access to it so the people on big exchanges like zappa had to wait to get access to their coins the people in coinbase had to wait to get access to their coins they just got access yesterday which due to the delay will probably be a couple weeks ago when this airs so you can't accurately price a coin that has artificially restricted access half the people that receive the token may have no idea that they received it if you were on your island or your

yacht enjoying your big corner innings sitting on your massive stack when you have to plug in the internet every day to see what new for coins you got to see what your new net worth really is a lot of people don't even know that they have these things and people in centralized services haven't had the ability to dump them so there's been an artificially restricted supply and therefore an inaccurate price also when you have a normal token that has started from scratch with its own name brand confusion with its own technological offering improvements. people purchase into that and drive the price up by doing so voting for it but no one had to purchase this thing right it was given to them for free and so it's a very misleading and artificial way to create money out of thin air out of nothing and it's not reliable which is the reason when this thing first launched its value was point three i'm referring to be cash it drop down to point one five point one

point zero five and it jumped up point one point one five point two massive pump point three then went down again and it keeps doing this oscillating up and down because we don't have a real price because people don't have access to their coins to dump them it's. it's a shell game pretty much the distributed network that is because the network you know you go back to the ninety's i remember when i was involved in the dot com at that time the seti project was launched a search for extraterrestrial intelligence so they were you know network distribution parsing through signals from outer space looking for intelligence and you know big quite in a lot of ways you know picks up on those p.t.p. that working picks up on this the torrent network picks up on this you yourself richard hart have figured you know i got a project recently you know this whole distributed network it combined it with the crypto currency we can do something that's mind blowing life changing planet

changing we've got about a minute i know you're involved in a project in a very interesting project just tell us first the name of the project and then the bullet points what it does record so cryptocurrency is over secured they don't to get the do not get attacked through their house power they get a tax socially so we're wasting a lot of electricity little bit more than necessary for the type of security that we need so would it be great if you could have occurred to a currency that still provided the benefits of you know sovern ownership and bear asset but also actually solve for a world problems so instead of just hashing shot two five six over and over and over again you were solving real problems such as computational fluid dynamics problems when we go to mars that ship gets designed in the computer first the rockets the power that ship it designed in the computer first so the better algorithms and the cheaper the processing power for that type of processing and the

sooner we can get to mars the faster our cars can be the better our fuel efficient our engines can be you know anything that involves air or fluid or movement needs to go through a c.f.d. machine to figure it all out you know you want to contain plasma fusion to have you know fusion energy it's all got to be done in a see if the machine alright the name of the project is what c.s.t. tooken dot com straight dot com ok we got to go out of time richard hart thanks for being on the kaiser report. all right well that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert like this like our guest richard hart catches you tube channel it's actually if you want to see us on twitter it's kaiser report until next time. in two thousand and sixteen the panama papers show the world with

a tax haven the secrets to trailing and united states dollars passed through most. in the amount of time that we've been in panama papers exposure that's what it shows a lot of money it really is. journalism it's a fact of journalism looking at things that people want to keep secret and asking why would they want to keep these things secret. millions of most like from don't you months we're examining. all the people we basically have tried to get an advantage out of this sort of newspaper. and probably other politician which what. other politicians the media would point to find targets such as the kings of morocco and saudi arabia the president of argentina several prime ministers. and russian president vladimir putin the coolest. oh my god i've had so i have sued so many newspapers for

defamation some things don't just happen by chance it was very striking there were no more americans and especially good a lot of people from the brics countries specially brazil russia and china that their special project reveals what was missed in the media coverage. the panama chronicles. everybody. i'm stephen bob. taft hollywood guy you know suspects every proud american first of all i'm just george washington and r.v. i'm going to suggest this is my buddy max famous financial guru well he's a little bit different i'm not a abraham lincoln no no one knows up with all the drama happening in our country i'm shooting the road have some fun meet everyday americans. and hopefully start to bridge the gap this is the great american people.

it's the cradle of jazz. the america is the america we have. to know all of this jazz feeling. a city of climatic catastrophes of alligators on the loose of poverty and crime forty years by the at least twelve members of my family close most murders of street racing in the peace of the night this is new orleans the man who was the best place in the world coming.

supporters of the iranian government hold a fourth day of rollo's to denounce the uprising that swept across the country and left at least twenty one people dead. however worrying the events of the last few days in iran may be they do not constitute say a threat to international peace and security to the security council should not discuss the internal issues of any country towards human rights issues the un security council that america's request holds an emergency meeting over the situation in iran but some members think it's an internal issue for tarar. one person reportedly died on saturday as that saudi led coalition is apparently continuing its bombing campaign in yemen despite a humanitarian.