answer so and then there is a transaction sense of you've articulated the big think but how do we get over that i noticed that ripple was there was a report maybe two weeks ago or less that ripple was in some discussion with american express is that going to be the ultimate thing where a digital currency actually works in tandem with a discover an amex or these or master card. that's exactly how it's going to work going we're moving to a competitive money system and a competitive system for for payment what makes what makes crypto different from something like visa master card or the dollar is that big client wraps together the money i should say blocked and right wraps together the money with the payment system the one in the same that's that's very difficult for people to understand because because for fifty years i have a long it's been sixty years they've been very separate actually for all time they've been separate we've had a money and a payment system that's one of the great innovations that's taking place within the

in the blocks and sector is the unity of these of these two great systems into into one apparatus into one machine and what that means is that it dramatically reduces counterparty risk so in a conventional payment system you know your pain but they're trusting you they're testing the pay or the trust in the bank has got to trust everybody else until the final thought about happens two three days later with crypto asset exchange it's really is like exchanging physical property once the payment is confirmed then it is done there's no charge backs you're completed so the current kind of party risk of reduced to virtually nothing which is why i think wall street's going to get more and more interested in this technology and i think that's what happens it's going to happen because it's going to outperform the old fashioned systems little by little well i do agree with. i think you know maybe thirty forty years

from now or our grandkids will think how quaint it was we carry pieces of paper you know around in our in our wallets. and you can see it now i don't know if you follow the demographics of crypto adoption but i think it's just hilarious you know i live in atlanta we now have eighteen decline and because in cash a.t.m.'s all over town and you can go to any of there's a long line all young people. big stacks of cash pushing them into the machine to buy because and and these people you know sometimes i think i think you can have a condescending attitude towards young people on their investments because older people are going to be sorry because of them because i was going to go down a price or to lose my money the fact is young people want to take the risk they're everybody's excited about it it's a way they can get into the markets they can play the markets a little bit i mean i have friends of mine that buy every kind of coin you can imagine you know and there are thousand of these things now and they know that

a lot of them are going to zero but it's an adventure for people this is the way adoption is happening so it's a demographic i mean older people i've noticed this are for the most part terrified of the sector they think it's just kind of crazy young people very adaptable you know this past christmas a lot of people got becoming cash because bash like went for christmas because they asked for it from their parents yeah well it's not a bad bed gift although we talked about dog calling here the you know sort of the the jokey thing based upon i mean that it had grown to a half billion bucks and that's a funny story but that's a funny story because those congress was created to troll the crypto community with a crypto community troll back. then has for years kept being a pretty darn valuable coin it's also fun to mind i have friends of my mind it's you know there's there's a lot of funny things going on. sector things that i would've expected. because

i've been involved since about two thousand and thirteen and back in those days i really did expect that the clinton's become going to become a real competitor to the dollar and i was wrong about that because i didn't anticipate the scaling problems but i was wrong and other things like i didn't expect a nefarious application called crypto cats it would become a big deal in late two thousand and seventeen where pictures of kitties reselling for five and ten thousand dollars on the affair block champ of homes there's a lot of unexpected things that are going to happen which is why i don't think that government should have anything to do with the script occurrences i think we should have leave them to the private sector we should liberalize them need to deregulate them keep keep government hands out of it and just let it develop on its own so they become can become amazing just like roads are just like like electricity or slide or any other great technology and this is a truly great technology it is needs to evolve and develop through

a process of discovery experimentation and gradual adoption i agree that it needs to evolve that way but as a former regulator you might understand that i have a little different viewpoint you know we'd like to have you back some time jeffrey to talk about that it again we really appreciate you being with us today it was geoffrey talker editorial director for the american institute for economic research thanks for your time. those her rent is california mudslides have not only cost lives they continue to create devastating problems for businesses and for families with more here is the tosh a suite with the latest. here you can see a part of highway one hundred one is under water and this is the way that most force travel into montecito downtown santa barbara and also their wine country and as you can imagine not as many people are able to get through which of course is hurting businesses collectively we have p.t.s.d.

shock. trauma and dissociation the name weimer lives in montecito and remembers today's massive mudslides all too well we thought it was the fire again also with the massive rain. wind and hundred mile an ira our boulders rushing by can imagine the sound her husband went driving around and in warmer photos of all the devastation he would text me everywhere i would just see the tax i was like putting a pillow over my head thinking i can't deal with this her husband was unable to get back into town so they've been separated for more than a week with no cash running water or electricity while most says she's grateful for patrick braid if the smallest things that often have the biggest impact braided giving free food and drinks to first responders and the few residents who decided not to evacuate he did the same thing during the thomas fire taking over the business after his father john patrick who passed in two thousand and sixteen

prayed says he feels it's his duty to give back to the community who so dearly loved his father these are our people we've got forty three year history. with all the families you know with all the children braid says he's fortunate local stores like trader joe's are donating food and supplies but the lack of business is hurting everyone now just as it did back in december when the thomas fire hit after that thomas fire. we lost a week and a half a business this business bank account got down to seven hundred dollars that's scary right and to help his fellow businesses and residents out he's in the process of putting together a nonprofit to help rebuild want to see joe and i was sworn in. the day that the disaster happened santa barbara mera kathy morello says her first day on the job was one she'll never forget photographs and even video cannot tell the story she says committees were working on ways to help their economy bounce back from the thomas fire just before the month slides hit we have lost of sales tax. people

being employed they're not getting paid. back taxes when people come to visit us and stand our hotels even the day trippers can't get up here so now the main hope is to get the one on one freeway back open to visitors from the north and south can begin contributing to the economy once again jim shivers spokesperson for count trances crews are working at an excel or a good paste hoping to reopen the one to one fine next week the locals may look at us one a one as kind of a local road and you could make the argument that it is but on the greater scale this is a major artery for the movement of goods and services and is directly related to the health of many businesses so now officials say it will take months for things to resume normal thing and only time will tell exactly what kind of financial impact. on veterans day and marketed on the costs which are to. horrific that's

all for now thanks for watching be sure to catch a boom bust on you tube you tube dot com slash boom bust arctic kitchenette. young children have worked in bolivia for generations almost three quarters of a million a 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 on the. certain circumstances one does anything as. these are news. eat 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 continues risking their lives for the money they need to survive on. i don't think any country can push a button and get rid of trade this is far too important to be farmers to political backlash money is a very fine cheerful thing and i think you leave very quick before people find ways around it because they say it may be damaging it might cut it back but the idea

that you could do anything nearly even this is very unlike. the headlines on. washington claims it was setting up a kodesh led border security force in syria off the tokyo reacted furiously to the

initial announcement and quickly shifted military equipment straight to the border . president from costs on any told with north korea working. direct negotiations between the two koreas results in a breakthrough decision to compete under one flag at the winter olympics. frustration over migration regulations in europe are forcing switzerland to consider ending the free movement of people agreement with the e.u. . and a new leak from the front seabeds hacking group obtained by claims to question the basis of the doping allegations against russia. right now twenty midday here in moscow you're watching r t international news team here welcome to the program the u.s.

secretary of state rex tillerson has significantly backtracked on the pentagon's earlier claims it was establishing a border force in syria however to listen says the initial announcement was simply a misunderstanding the entire situation has been mis portrayed mr scribed some people misspoke we're not creating a border security force it's all. the coalition is working jointly with the syrian democratic forces to establish and train the new syrian border security force washington seems to have changed its tune after turkey gave a furious reaction to the initial announcement president of the one accused the us of building a terrorist army on his border valve to destroy it video news agency roughly filmed turkey's military equipment on the border with syria as i was preparing a military operation and despite washington's eventual denial on wednesday to

listen was found reinforcing the u.s. intention to stay. to be a clue. united states will maintain a military presence in syria focused on ensuring isis cannot reemerge isis as a so-called caliph it is dead job done the world can patent self on the shoulder mission accomplished and all that what's left of isis has gone underground and not the sort of thing you can fight with tags and jets so why is the united states now building an army in syria considering syria already has an army that can reliably keep isis in check why would they need a second one but ok politics the u.s. really wants to stay in syria we're going to stay for several reasons stabilization assistance in the vital north and northeast protection of our allies the syrian

democratic forces but for other reasons as well let me show you something outs these a turkish missiles tanks tillery turkey and coalition member preparing for an offensive against syrian kurds the y p g. part of the us led coalition the turkish president isn't happy about america building an army of its should. now america's acknowledged it's established an army of tara along our country's border it's up to us to drown this army of terror before it is born that's tough coalition trained fighters are about to be attacked by a coalition member what kind of alliance is that add to that the u.s. apparently told no one it was building in.