your book so your book era gold person and silver i would imagine well i actually over the christmas break i spoke to about two i heard of two different. whales who were going along cold as well oh i think i really yeah so i think this is a kind of ok that's fascinating well we got to take a break when we come back and jim rickards don't go away much more coming your way so stay right here at the close the report on our. fears will people been saying about rejected in the us is it actually just pull on . the only show i go out of my way to you know what it is that really packs a punch. is the john oliver of heart to you americans do the same. apparently better than blue. sea people you've never heard of love or death to the next

president of the world bank very. seriously send us an e-mail unfortunately it appears that once people learn that you've reported a sexual assault or made been involved in an incident that they become scared of you instead of being scared of the perpetrator. welcome back to kaiser report time now to go to the one the only the prolific author the trends see here the forecaster on paralleled jim records could do with emacs welcome to twenty eighteen thank you i have joined us so far so far so good to see how it ends up they could be the year of living dangerously all right so let's get through some question of the sea air because you are without a doubt you got your finger on the paulson terms of trends and the intersection

between markets and other things as they are got to talk about what we may be seeing in the next year or two now one trend obviously is artificial intelligence you've got a boom you know what driving cars chat bot apps what's happening in ai how big a market is it works going well and there's potentially a limited this is now where what we call third third wave third generation so the first generation is kind of your big date and simple rhythms a second generation was was deep learning where the machine could teach and put would become input that would basically span the capability of machine third wave is now building these fuzzy college networks and getting inputs from other sources of exactly i.b.m.'s watson machine which is the it's not the fastest computer because the fastest computer that can read the volume of plain language that it does in a different languages so now it's like having a thousand dollars working twenty four hours a day maybe ten thousand of us you can't replicate that with with humans but you

can do with machines that can they bring that amount of data and with meaning the machine learning combined with the resulting data in the algorithms is very powerful so they're going to have for a punk band fozzy cognitive network. yet you play instruments i don't much older child and i did every. probably wouldn't be able to keep it between us are ok. let's ask about what this does to the workforce because obviously if you have self arriving cars and. truck drivers for example is a huge work force in america are going in and trucks what happens to the workforce i think there are structural problems with the workforce that have nothing to do with technology and what we're talking about they do have to do the education and training the opioid crisis there are a lot of protheroe of structural headwinds but as far as this technology is concerned it doesn't displace as many people as a lot of people think for example a savior you're a nurse's aide and there's certain tests that you do and you can automate those it doesn't mean you get rid of the nurse's aid it just means the nurse's aid has more

time for sort of you know more personal care or other kinds of observations of cetera so you know the computer keeps getting better and the a keeps getting better so the quality of the care goes up it doesn't mean a person doesn't have a job it just means that they might you know pivotal little bit or have different skills that the machine can't match so i don't see a display look at an amazon warehouse ten thousand robots those aren't people those are robots well a lot of drivers out there and there are people in those warehouses and they're working pretty hard so you're right about things overstated yes you're right about the robotics and the automation absolutely right about that but it's not displacing as many jobs as you suggest is actually making those jobs more productive there are however there are structural problems in the workforce but i don't think it comes from robots as a second and education or lack of education lack of opportunity lack of labor mobility bad tax policy and i would not underestimate the impact of the opioid case and also the second time you've mentioned the lp out crisis what's going on there jim what do you mean the open i think it's been very well covered but but the point

is this addiction is very widespread so if you're serious that he can't hold a job if you're a recovering addict might not be able to get a job or if you're a closet addict you might be on the job and performing dangerously and that affects productivity loss effects in there all these not applying for the opiate crisis the big drug companies and the doctors and pharmacies that all played along with the tens of billions of dollars of profits have been made i mean i just really simple example so. you get some you know you get some or also look at all these to be found we know we know what so what well then how do you how do you address that what if what he did well we actually have a pretty good civil tort system in this country is this is going to play out like the back of the crisis is companies going to you know friends with some of the big class action lawyers and they're circling the wagons ok another so you like technology you know sure big technology for a lark it's i like markets i like markets l.a. technology like technology and markets on the bus but i'm also wary about some of the some of the downsides so well what about the the stupid question futures are

there big coin futures the effects of big oil has topped over the wall street divide they've got big question answers. you know jamie diamond has come out you know as a fraud you're taking the same position as jamie dimon which i know you must love that. say it's a fraud a ponzi and a mania all the same time but the futures contracts. what is the time walk us through that and if the wall street hates because some of it does i think so does the wall street likes something that makes money and the futures make my you see the big corn crowd when they saw that the skyward options exchange and c.m.e. were listed because futures they see this validates a bubble but that's not true they're out to make money but is it off a feeling prophecy in other words it's own it's own prophesied it starts trading because futures people in are now paying their employees and decline in others and so it's becoming a unit of account it's becoming a currency in this way and doesn't it you're in analytics and data meister don't

use do you see in your work out all this kid transform the global markets as we know it well i was very privileged to meet the man who came up with the phrase self-fulfilling prophecy where we came urban public really great so shows us of the twentieth century if there if there were a nobel prize in sociology which there is and he would have won it had the long term capital management you were there obviously going to listen. liquidations and i were i met robert. as professor emeritus clubby but his son robert c. merton who did win the nobel prize was one of our partners and that is father so he can have the self fulfilling prophecy but the point is it can be good or bad a bank run is a self-fulfilling prophecy the corn prices going up is a self-fulfilling prophecy because prices going to two hundred dollars can be a self-fulfilling prophecy it's basically crowd behavior cascades and what's called and i think hyper synchronously what sometimes it becomes the new the new reality

the new norm you know that the printing press for example was a great little technology at the time and your beloved catholic church was like wiped out in a lot of ways because the printing press the catholic church is stronger than ever but there's then that the printing press is the perfect analogue because this is where because fans let's call them really confuse the public you have to separate the corn the technology the printing presses the technology a printing press can produce a bible or can produce pornography so one's good one's better but there are not the same printing printed paper and the press so i think i'd like a lot saying and the validation of the chain three of the coin are they are interlinked they are one it is the father son and holy ghost if you will of the movement that is this currency is the coin is the currency and i'll agree it's a kind of currency it depends on the block you block chain has a future because it does not bother with regard to the because the future is very uncertain point the other day that the price of the queen for for the because futures are cast there's no actual big korn about just people making bets and you

get a cash payoff in cases like on the racetrack but the big point future is there is a huge diversions to the big question price list on the exchanges that's rare because there's an arbitrage opportunity there is the always trade the book when you when that happens you sell the future you buy the physical the fact that that was not converging tells me there's no liquidity in the physical because otherwise you could do the trade yeah it's an efficient market at this time it's a new market and we're certainly saying. some big growth in that mark. let's talk a little geopolitics or so north korea. twenty eighteen hot sound what's going on a very high probability of war now there's you know probably get past the olympics there are some channels being opened up between north korea and the united states and that's a good thing but you really only two two well there are three outcomes one is kim jong un gets assassinated this regime change we probably only do that with the help of the chinese pretty clear the chinese are not on board so i give the maybe a twenty percent probability but you can't make it zero so the other two probably

one is kim jong un stands down he verifiably voluntarily gives up his weapons development programs invites inspectors a set or i give that maybe a ten percent chance he's not going to do it he might pretend but he's been lying for twenty five years you know this is been dumped in trump's lap it's really the fault of clinton bush and obama how do you rate tillerson. elect or something he's doing a good job under difficult circumstances and always kind of you know not says the president a little bit but i personally read a very highly i think is that he's the right man for the job and when you're the c.e.o. of exxon you are the secretary of state in some ways i mean he goes around he says that he considers the home so they have their own security intelligence security apparatus i close up so that you are allowed to in size to the u.s. government i would rather summarize right let's talk about gold ok gold of course getting back to you know before bit quite people use gold and but it's still around russia's buying a lot of all right so there's huge geopolitics they're going on you know one of the

first guys to come out and say identify that a country like russia by buying lots of coal is giving themselves some strategic advantages going forward because if we have a collapse in the current monetary system for the currency system and we go back to something equating to a gold standard russia and other countries china are going to be in good shape what's the update on that well there are no you lynn is the head of the central bank russia's my favorite central banker in the world. things really smart doing things right but was interesting is that beginning in the middle two thousand and fourteen through the beginning of two thousand and seventeen of course the price of war collapsed went from about one hundred dollars a barrel low of about twenty five now it's you know up around a little bit closer to sixty but still a collapse from where it was russia's reserves in round numbers went from about five hundred billion dollars to three hundred billion dollars so that's a forty percent decline in the reserves during that entire time she kept buying gold she never sold an ounce ago she sold euro she sold dollars she sold treasuries do whatever she had to do but they kept buying also very impressed with smart oh i

met your guy hughes is russia is closing in on two thousand tons us as a thousand tons approximately the us is four times bigger but the but us economy is twelve times bigger so if you look at the gold to g.d.p. ratio which is how i measure it twice russia is twice as strong as the united states such as russia it's also i don't. think gold to g.d.p. in russia is double the united which is a source of strength say china is not there yet because their economy is much larger but they're acquiring gold why don't they are going to list a lot of trade failing there was you know hand-wringing about all those roubles dying is crashing but that they're out of a good. well they've allowed the river to trade pretty freely but they are doing it with a good central banker this is in the ninety's in the yeltsin when you know the ruble collapse they're actually much better central bank managements a day as a saver and much stronger go position but we talked earlier. in one of our interviews about russia and china and others working on it just to be legit

technology basically a coin not decline but but some token some digital coin with every encryption cetera that they could use to make payments between among themselves so about subpoenas bypass the i.m.f. bypass the switch i call it already exist our ripple ok ripple as they're calling the banks right now the value all across the world it's a pretty mind coin they're likely they're likely to develop their own coin but be that as of now using this tribulation acknowledged but the point is. combining the old in the new gold is one of the old as far as money if not the oldest form of money digital cryptocurrency is the newest form of money the washer be using both gold for source the source of strength digital cryptocurrency for convenience and ease of payment and then you know i wore my colleagues who were always like used to our sanctions used our sanctions to be careful that we sure they do work in the short run but we're going to force people to write an essay and that's happened ok but you on the spot quickly have a dollar for dollar twenty a day where it's at it it's had to hire a lawyer i think for sure. jen records calls going higher and twenty we're going to

go thank you all right well that's going to do it for this edition of the kaiser a part of a mascot or a stay there and i think our guest jen records he's a smart guy he's got books he reads books you should read books you can find us on twitter a cause report and i stand by off. put

all grant citizenship to wiki leaks chief julian a song he's been holed up in the country's embassy in london for more than five years. also this hour undercover reports suggest twitter. undesirable uses political content it doesn't like. and president putin talks korea saying. in the escalating crisis on the peninsula. they're welcome to our national life from the russian capital moscow wherever you

are today thanks for joining us. has been granted citizenship by ecuador a country that has been hosting him and its embassy in london twenty twelve after he requested political asylum and explains what that we could mean for that we can exchange. unfortunately for julian assange continues to be quite complicated as this long winded saga continues if you remember the rumors were spread last night following him tweeting a picture of himself wearing a t. shirt with the ecuadorian national colors stirring lots and lots of rumors online and in the press about the possibility of him potentially having received ecuadorian citizenship now tonight we have got a confirmation of this here is what the ecuadorian foreign minister had to say. this naturalization was granted on the twelfth of december twenty seventeen the ecuadorian government is empowered to nationality status to the protected person the big question remains what happens in terms of the british officials reaction's

who have been clear over and over again that if he does walk out of the embassy they would still arrest him because of him having breached his bail conditions at the time of what he initially went into the embassy obviously the biggest fear for julian assange continues to be possible extradition to the u.s. where of course he is wanted for all the works that we can leaks have been doing in terms of exposing the actions of the american government we do know that ecuadorian officials have requested that britain allow for julian assange to have diplomatic immunity or diplomatic status and this has been a big no from the u.k. who said they're not going to go ahead with this kind of plan we did hear from the officials of ecuador that they're going to continue and have been negotiating with britain still to try to find a solution as we know also the foreign minister has said that the situation with julian assange has become unsustainable and it's time to move his case along now we here at r.t. have spoken to the people in ecuador about what they think of his case let's take

a look at them with your level of it because he does need human rights support and i think that's what the government will give him there is also a health issue because we know he's enclosed in a very small space there are many things that cross my mind is he healthy enough to stay there. the muzzle of a. as a refugee policy and supports you in this way. all of this of course despite the fact that the initial case carried out by sweden and followed by sweden in terms of sexual allegations made against him has been dropped so the reaction there would be that that would potentially open the gate for him to have more freedom ability in this whole case but that hasn't happened obviously of course we saw what is such as the united nations say that has been holed up inside the ecuadorian embassy here in london it could be seen as arbitrary detention so certainly it's a very complicated case of course that has been going on for years and years but it seems that this is a step forward so we're going to have to wait and see whether this particular

latest step ends up leading anywhere i would discuss the options for songs with george battery political activists and social justice campaign he thinks the political stakes for the u.k. will legal concerns. the basis on which the the u.k. authorities would arrest him apparently is for breaking bad conditions so the charges in terms of the case in sweden have now been dropped but absolutely maybe there will be an extradition attempt and as various kind of international bodies have found when they looked into it the chance of julian assange is getting a free and fair trial in the u.s. of minimal with the robert miller investigation and the allegations about collusion between the trunk campaign and wiki leaks there's obviously. a sort of politicize ation element potentially around this case with bricks it looming in the u.k. obviously wants a positive treatment from the u.s.

as it leaves europe and in terms of potential trade deal you know so there are concerns obviously that this will this will be treated politically rather than legally. now if you don't receive many retreats on twitter that could be because that has social networks been censoring you by imposing a so-called shadow ban the move has come to light in the latest undercover investigation by project veritas one. would think that someone. you. know what you should. think that they want to. know what. the group behind the revelations has quite a controversial reputation it's been accused of getting information and infiltrating organizations under false pretenses project veritas has also been criticized for heavily editing material to deliver its point its founder james

o'keefe is a conservative political activist some say he has a strong political agenda samir khan has more on the revolutions. well the social media giant has presented itself as politically neutral but project veritas seems to revealed otherwise according to several employees who've been caught on camera twitter regulates its content by controlling what its users can see on their feet now one of twitter's policy managers says that the company is currently developing a system that down ranks controversial users and another employee says twitter is trying to ban a certain way of talking online so they're going to be like they are simply the users of the things that a very local movie i guess. it's good to see them in the mindset of the way it's going to twitter can also apparently dig into its users profiles and conversation history to figure out their political leanings and then determine whether or not they should be banned and another issue that came up was julian assange just twitter account of the fact that it was deleted without explanation

a couple weeks ago but an employee was asked about it and he did hint at one possible reason. but you. know. what we can't verify if these are real twitter employees are not and if they are they definitely could be lying but we've requested twitter comments on all of this but we haven't heard from them as yet but regardless the whole issue is definitely something to investigate further. let's go live now to russell verney executive director of project veritas thanks for joining us i could tell if you on the program today why did you decide to cover this particular story whether any sort of pre-conditions any plans specifically that you went through no there were no specific plans but only year ago james o'keefe the founder of project. he made a public announcement twenty seventeen we were going to be talking to mainstream media in the united states we would love to be able to sit at their tour board

meetings every morning and see how they just what they're going to present to the public and what context is going to be. we can't get there but we can get to a lot of the people who work for these companies so we've done an exposé c.n.n. news we've done one on the new york times we did one on the washington post now we've switched to social media and this is the first and then maybe others coming along the line we are the cover journalists have gone in and yes they used to search and to get into films we want people in a candid moment not when they're working on a microphone and giving you their talking points but when they're speaking from there and these were all employees of cromer employees of twitter that were verified and we have never ever issued a retraction for any of the projects we have reported on we have never been found to have doctored any video we do edit time we take a thought or

a statement from somebody and keep it in total context so what you're seeing here is the admission of the employees at twitter that they radically scrutinize the messages going across their system and they choose who will be blocked on this system and by and large it's going to be the conservative voice that is being blocked because the book their poison liberal i mean a lot i'd like to get back to just in a moment about the tactics you do use to obtain information but just on the specific story i mean do you think twitter is overstepping its powers here in this case i mean. how do you manage to find these employees that reveal this information . is true overstepping it well if they're sharing information with the federal government voluntarily i think i would think they would be overstepping however whenever you're ready as goes onto a website they agreed to the policies of that website and if you work through the

part proxy policies of twitter it gives them the right to every bit of in some a. when you have a proposed bill you do we didn't give them the right to all of the metal data that's associated with your signing in on that day in that time when you are in what you do and they have the right to sell that information given away so we're giving away an awful lot to these companies when they come out and publicly say they want to be a public forum for free speech yet they're censoring free speech and they're slanting what free speech can or can't be heard and then there's a problem i'd like to just get back to what what we talked about earlier russell about the methods i mean your organization a project has been coming out of quite a bit of.