then of their fake money and their fake i didn't say that at all i did just go surfing on the ocean of free money as it comes crashing in on the other sure all right more coming your way after the break don't go away. young children have worked in bolivia for generations almost three quarters of a million doing so today. this culture led to the development of the libya's new liberal and highly controversial children's code in two thousand and fourteen which gave children as young as ten the right to work under certain circumstances but there's a new thing this. is all new. but

with the end all. the things years. but there are hundreds of thousands of children in bolivia operating completely outside the old. mining work is strictly forbidden by the children but it's never enforced and that means the school boy minus continue risking their lives for the money they need to survive. join me every thursday on the alex salmond show and i'll be speaking to guests of the world of politics school business i'm showbusiness i'll see you then.

welcome back to the kaiser report imax keyser time now to visit with adela alone she is a finn lawyer n n o g a cipher punk oh mike this is going to be cool adele welcome. thank you tell us about your background what led you to bit coin. well i first learned about bitcoin in two thousand and one i know. so i was working in the gold industry in two thousand and one we founded this company and actually ran

an online gold backed payment system and built them as well and we did about what liebling and what not so it was first then that i sort of got introduced into the world of like the possibility of a of a not centralized currency an alternative to what we had going on for you know centralized actors so the cypherpunk label goes back to this period of time in other words obviously big play in the way paper was in two thousand and eight of the issue of it goes back. years before that in terms of looking at de sexualize ways to create value to sun value different companies have been trying to do that for a while and your background goes all the way back into the early early days yeah yeah actually i worked with some people had formerly worked at eagled and eagled was probably the first clarence in settlement system of micro payments and so that's that's that's that's a whole beginning of bitcoin i think that's when the conversation really started to

materialize into software right and you are already in the legal business law of not at not at all not at all i was in the business of building things and you know and working with teams to to build these systems out to build a build out these protocols so it was well into technology yes and then a lot of what got you into the law side of the legal side that's actually really interesting because you know we reached a point post nine eleven where people were going to jail and starting to seriously you know crazy things like i think our conversations are be monitored we started to see the closure of bank accounts with bank accounts that we previously banks that we prevent previously worked. and so as we say i was getting real latrobe i can say that but it was the. it was getting real and i thought wow

i love technology i love to build stuff i love this ecosystem i love the idea of having an alternative to a centralized authority having a monopoly over how and when we can move value and so i thought i need to understand the regulations behind all of this i can't no couple of pramod you're in the gold space yet and we had a couple prominent people in the gold space like a peter schiff for example origin records for example folks and they don't seem to really understand but coiner their ante by calling or their big client skeptics so you know you're somebody who's been in the business for a while you're in the legal space what one of the going wrong wow i mean do you want to be. look at i'm going to take it back to something that i use in that i see in my in my in you know in practice all the time and it's that we're dealing with regulators for years and back in two thousand and fourteen twenty fourteen i thought twenty thirteen twenty fourteen ok these guys have

a long time to figure this out this is new it's exciting the value propositions obviously there you know in the form of the white paper we started seeing the b.t.n. companies coming out so the regulators really do have time to figure it out but it's twenty eighteen and we still not really far ahead from where we were in twenty thirteen i think it's the same of these guys i think there's a lot of intellectual laziness going on and i know a lot of them are super super prominent. you know intelligent but evidence is coming from those guys is that there are step ticks they have arguments but they're not the arguments that one would think one would use against but clear because there are some arguments i can be made against bit coy but they never use those arguments they is kind of. hack made ideas about tulip bulbs and things like this but let me move on for a second here so let me get your take on the perennial question that folks are which is the means of exchange versus store of value question you know the white

paper is called digital cash essentially a digital payment system digital cash so it started off really as a medium of exchange and it wasn't all the last couple of years or so that actually this idea of a store of value took off and people started buying it as a store of value and of course the fees have made the medium of exchange argument problematic and you've got bitcoin cash coming around saying hey you know we've got a solution to this how do you weigh in on that debate well yeah that's that's actually a big one because we need both things for a currency to actually be successful you know it needs to be a store of value and it needs to be we need to be able to transact in it easily and we're seeing problems on the second part of that. i think because it has turned into like a sort of holdall tourism destination when model terms a little less like. i just booked well. so it's kind of like the the the the maximalist idea of holding on to every single big queen that you have

and never ever transacting it and that's become very very popular especially in the sort of like underbelly of the space and on the other side of that we're seeing a lot of tourism's i have people writing me daily in my inbox i mean posting about this for ever from jump like you i've been talking about it forever posting articles and people are now writing me emails like hey how can i buy stock in the big koreans how can i get rich online with bitcoin so. i think you know one of the problems is adoption we're getting there we're getting so adoption another huge problem with that is understanding and then people taking the time not taking time to really understand what it is so sad about real attack vectors ok because now that because i jamie diamond was a skeptic now he's saying i regret having called it a fraud he's done a mayor culpa essentially but the central banks the world the big banks the world governments are starting get nervous that maybe their ability tax is going to be

diminished because everyone's in the crypt a space and there's a way to track them down that's going to be a problem for their coffers you know so that governments this is now on their radar some governments are taking it on board like venezuela started krypto russia's like their trip though and these are countries that have been kind of manipulated by the u.s. dollar in its status as role reserve currency and it backed by the pentagon really and so they've got a whole new geo political element you're in the legal aspect of this what do you see as a genuine cause an attack vector or or a vulnerability or problem of bitcoin going forward oh my god so real world application the banks or i would see the hugest problem right now just in use every single day and use case and the problems is the problem is where you know the where where do the banks stop and the regulators start and so i think by by extension banks have acted out and they are refusing. all the major bitcoin

companies bank accounts so there's a bit of a system de under that set up on ramp is choked because the idea decrypt conversion is controlled still by the bank absolutely and you're saying the what not ready but you say. system the system do yeah there's a french term it is yeah which means kind of. chaos making. sense out of ten. yeah it's also an economics term where people sort of transact and find ways around the status quo what is the difference where that culture massage system day bed today dave. barry day or ers or something like that. have a live in france for a while it's as if it was somebody says are you going to do that it's a common colloquialism to say system d. just means i just fuss futz around to get it through to some somewhere so this is what the the the principal guiding big coiners through the bank.

blockade is is to just wing it. well to wing it i've seen i've heard that you know some people. probably misrepresents what the count is being used for of course you know auditors figure out you know be queen is involved through you know wires to the registered exchanges queen bees etc come cumberland which is a proprietary trading firm they track it down and he shut them down to give them couple days sometimes if they're nice or they just get shut down overnight and so there's a lot of banking tourism that's going on right now people just moving from bank to bank seeking. a more hospitable situation and what i have seen a lot of is you know companies having to ten you know even more than that bank accounts right so you've got a portfolio of bank accounts and you're trying to cover your bases you know

different countries are vying to become quote joint switzerland they want to be they see this as a competitive edge they want the business they want the technologists they want to be leaders in this field what countries are leading this remember isle of man was considered to be a forefront or a forerunner of this sort to what itself is looking like it's an attractive space what countries now are kind of in the good position to be leading the charge we do a lot of jurisdictions and we you know seen a lot of good things out of switzerland with it's becoming a little overplayed and i know for example one of the companies one of the major exchanges right now is having a problem right now because swiss want them to register as some sort of you know not a financial institution but kind of a financial institution and to do k y c over amounts of five thousand dollars. so what i'm seeing is a shift right now to the eastern caribbean. caribbean ok. well yeah it's

incremental. and i think the regulators so far have been very receptive. they've learned a hard let they hurt learned a hard lesson this will be never saying do things. dami domenica yes so they also have the ability for people to buy citizenship from these places in the caribbean. for a couple hundred thousand bucks you can buy a passport see them now or it's becoming leaders in the script space as well i hope so i would love to see that i want to see more interaction with you know with the crypto companies and the regulators because the regulators are asking questions there's a think tank down there that i do some work with that a few know down some peepers for their asking the questions i would love to see that that that space dominated by that area well since yours for a second or so. i c.e.o.'s and ishall coin offering this twenty seventeen we saw

billions of dollars raised by hundreds of i.c.'s the summer during the summer the f.c.c. said most of these i suppose are securities of course that you know they have to make that distinction what's happening in the i.c.a.o. market i believe you represent i.c.a.o. companies and you're you're doing so from a legal perspective what's happening in the size space we're going forward so my firm we do a sort of soup to nuts type thing you know from the very beginning we often deal with issues on the backend you know so that it represents what happens on the front end because there's a lot of issues with that. you know there there are a lot of different types of. products being offered through these i.c.'s i think you know my feeling on it is like do you really need to raise one hundred fifty million dollars in two minutes a part of our cap probably not we have about ten seconds to say growth in that area

yeah yeah there is that there is immense scrolls and twenty doesn't lead to another big growth area absolutely but i also see the coming down on it a lot harder than they have and also they are looking at these tokens to see whether it is a you know a purely utility he took in our candy crush coin or a security right now adults along to israel because report thank you so much for having me all right we'll ask you to do it for this edition of the cars report with me most other states or i guess delta low if you want to reach us on twitter it's kaiser report it's all next on. some animal rights activists are just upset that we eat meat period which makes no sense by the way because animals eat other animals and we're supposed to be equal with animals but suddenly they don't want to humans eating other animals so in a sense they're saying that animals have the right to eat other animals but humans

don't have a right to eat other animals even though they think we're all equal so some of there's a logical inconsistency there. young children has worked in bolivia for generations almost three quarters of a million are doing so today. this culture led to the development of bolivia's new liberal and highly controversial children's code in two thousand and fourteen which gave children as young as ten the right to work under certain circumstances when there's a new thing this. is all new. well without having the end all. the things years.

but there are hundreds of thousands of children in bolivia operating completely outside the local. mining work is strictly forbidden by the children but it's never enforced and that means the school boy minus here continue risking their lives for the money they need to survive on. the two thousand and eight economic crisis turns some countries into paix these are the countries with we korea colonies that needed austerity policies if you are in a situation of flow bloat even the recession austerity is a very bad idea it doesn't work and it makes millions of people very unhappy those

who are unemployed see their wages decline almost a decade how good are the results then you go in peace will come by the people gathered in which to watch it will be people with your daughter june. who traded beautiful blue she still plumbers i mean if a legal. challenge was to move this young girl who was always think they see something and not getting paid why are the same measures still in place to one of the consequences to weaken bluebirds food this movie will firstly one of the suits the truth the consumer is the consequences are actually quite acceptable to the decision makers. here's what people have been saying about rejected in the us a full on author for all of that the only show i go out of my way to launch you

know what it is that really packs a punch oh yeah it's the john oliver of our three americas doing the same we are apparently better than food at that and see if anybody had ever heard of love redacted tonight the president of the world bank hate. writing seriously send us an e-mail.

president trump agrees to gain a wave certain sanctions on iran but warns that the u.s. will walk away from the nuclear deal provisions are made. the washington post bureau chief in beirut is blasted on twitter for praising the bravery of a syrian journalist who is reputed to be a terrorist sympathizer. and the new york complete union sues the forces commissioner and the city mayor claiming body cam video is being released for political gain. or broadcasting live coverage for studios moscow this is our two international sean thomas glad to have you with us. donald trump has agreed to extend the sanctions

relief for your iran but he says it is for the last time four months from now the u.s. president will again have to decide whether to suspend sanctions as required by the nuclear pact and he insists that if or visions to the hard fought agreement are not made america will walk away. in two thousand and fifteen the obama administration foolishly traded away strong multilateral sanctions to get his weak nuclear deal despite my strong inclination i have not yet withdrawn the united states from the iran nuclear deal instead i have outlined two possible paths forward either fix the deal with disastrous flaws or the united states will withdraw even though trump has repeatedly vowed to tear up the iran deal he has decided to keep the deal intact extending sanctions relief but also warning that this will be the last time until the deal is strengthened a bit sanctions will be added on iranian entities for their alleged support of

terrorist groups now this comes after his national security advisers and other signatories have all urged him to comply with the agreement and the e.u. has been urging washington to stick to it for months breaking five years of the trade c.p.o. way that you view the room the deal is working you want to. protect just a few way why it should pay for this deal is crucial for the security of the region but also for the security of the well the agreement was signed in two thousand and fifty and it was hailed as a breakthrough in u.s. iran relations as it ended international concern over iran's nuclear program and it's often described as obama's signature foreign policy achievement but trump has always accused the country of violating the quote spirit of the deal now at the last deadline at trying to waive sanctions but decertified iran's compliance with the deal which is completely unrelated to all of this a it's not part of the deal and b. iran's ballistic missiles already been capable of carrying nuclear warheads now

we'll just have to wait and see if congress and u.s. allies will agree to trump's demands. the foreign minister of iran has hit back at donald trump saying the u.s. should stop jeopardizing the pact we asked the people in tehran what they think. trump's plan will never be practical because it's harmful for america this is a global agreement and it's not just the u.s. that imposes sanctions and puts pressure on iran the u.s. wants to be isolated then yes it is the right way forward. iran's should stand strongly against these actions because the more weaknesses show the more demanding the us becomes. and i don't think there is a brain in trump head he's crazy and he's the one who is unpredictable and i guess i think if he were really able to kill the deal he definitely would have done that by now i think it is more of threat. or response to trans threats european officials have voiced their support for the iran deal germany's foreign ministry

said berlin is committed to its full implementation a former advisor to iran's team during the nuclear negotiations told us that the u.s. can afford or cannot afford rather to pull out of the pact is the president that makes decisions and have to go one day at a time. don't place too much. all to meet them today because this deal serves us is national interest. defense. tillerson another's. just a couple days ago this is working. through nine reports has confirmed as iran has fully. so there's really no rationale or justification for trying to war against this crowd and really

you know land a big stop on the us is called debility international scene. and while the u.s. tries to restrict iran's nuclear activity the pentagon has reportedly been busy working on a major revamp of its own atomic arsenal the plans that were due for release next month but have already been leaked to the media the first of its kind in eight years the nuclear posture review outlined extensive plans to upgrade the replace and replace some of the outdated arsenal aims at developing smaller nukes so-called low yield weapons and move it opponents say makes nuclear war more likely plan wants funding doubled over the next decade and the document lists russia china and north korea as threats which need to be countered. the federation of american scientists says the u.s. already has well over a thousand of low yield nuclear warheads and in fact are as powerful as the bombs dropped on japan during the second world war and oppose proposed expansion is in contrast to president earlier pledge to seek

a global nuclear station number one i would like to know the world i would like russia and the united states and china and pakistan and many other countries that have nuclear weapons get rid of them the pentagon has declined to comment on the preliminary version of the document robert naiman from the just foreign policy campaign group thinks more nuclear weapons would be counterproductive. nobody really thinks that any sane person is going to use nuclear weapons in a strategic competition the point of having a thing if there is any point at all is you know so that the other person will be deterred supposedly against using your nuclear or their nuclear weapons because then you might use yours how doing more nuclear weapons doesn't change that contractors are going to make money off of producing nuclear weapons so they'll

create parochial interests there are pushing these things there are now something that's not in the interest of the world it's not in the interest the majority of people. the washington post bureau chief in beirut has faced a volley of criticism after posting a tweet praising the bravery of a journalist from free syrian t.v. now it was quickly revealed though that the reporter has links to extremist groups as art stuff reports everybody needs a hero even beacons of independent journalism like the washington post and what better candidate than a man doing his job despite the constant threat of bombs. this syrian journalist standing in the open field well bombs explode all around him is very lucky to be alive now flood jacket or helmet you can barely hear the explosions he and his colleagues are very brave a professional for all of us journalists to look up to right wrong this book may

have a pretty cover but it's the gripping content that's of most interest this man in the video is to hear a martyr and possibly the best way to understand him is this tweet shiite militia turned into minced meat sixty people killed in an eyesore suicide attack some respect for the dead maybe no now i'm satisfied he writes the different mission of bloodlust if you ask me in this picture is all smiles and handshakes with the saudi cleric a jihadi role model here. is sitting down against the backdrop of terrorist flags here's the one of i saw and hears a noise for us as he worked as a mediator trying to reconcile the groups back in twenty fourteen he set up and ran a training camp for child soldiers in syria and has reportedly made repeated calls for sectarian genocide no wonder he's on the u.s.

security blacklist masini is far from the only terrorist has rubbed shoulders with . the bed that night at this hour now bit of. thought the group is embedded within this video. is internationally designated as terrorist born as a branch of an al qaeda affiliate later they swapped sides figuring i saw flavor terrorism was more to their liking when i reached out to the washington post's beirut bureau chief about her tweet she disputed the fact that she ever gave praise to the man or his so-called journalism. i dispute that they gave praise to the journalist or his journalist i pointed out that standing out in the field and continuing to talk while explosions and there were no fall around you is brave she still admires is bravery though the mainstream media has a history of becoming in chanted by jihadi affiliated want to be reporters take bilal abdulla karim the story teller when it came to the battle for aleppo people

executed it's as simple as that what can i do here and see a blend in the crowd i don't think so am i going to turn my so over to regime forces absolutely not so what that he's giving a platform to a suicide bomber right at least he's taking all the right boxes they say you have to protect human rights. they support the terrorism so how on earth. of ports human rights supporter is of that's that's the bottom line of the hippocratic they have double standards if this happens in the u.s. mainland would they accept terrorists to be available terrorist organizations. to say they have good cause of course not the mainstream media has a habit of putting itself on a journalist.