fargo bank here in the united states they test case this process by stealing money out of millions of accounts while smart they stole money like this like a common thief because of course they're terrorists and have a comment about that wells fargo but you know you've seen the polling to ten can do to a man and they were just going down the road to steal people's money and oh did i speak out of turn so if i'm wrapping up on this story because we only have thirty seconds left i want to say this house i household debt two hundred percent of g.d.p. will constrain further borrowing in the future we've talked about this in the past what are they going to do with the next financial crisis have they can have this you know s.t.r. is the i.m.f. going to come in and roll everything out is going to be gold it could be crypto currency and i don't i didn't mean to threaten anybody ok that's just metaphor i'm a poet that's why i'm popular in the rap community now stay there for the second half because we've got a fantastic interview coming your way don't go away. but

you're the stand. that i don't know if the brothers you know look out for the kids and. only a little bit of a minute and then you can keep an. eye you lose all that and. living.

a lot of them. get this whole full plate choice were gone the i knew you have them and hey i think tom in theory has said. this she ought to have a. model for the women africa will fuck around with mr hate for jim and then oil for hope that our freddie macor. the money. zia says harlan kentucky. hold on this move the poison you get rich very funny using. a co money city with almost no coal mines left. the jobs are gone all the pay rises said that's. love to see these people the survivors of

a world disappearing before their eyes. i remember thinking when i was younger that if anything ever happened to the coal mines here and that it would become a ghost town but i never thought in the million years i would see that and it's how it's happened. and the know how no one who. won't. let is going to let it come.

welcome back to the kaiser report max kaiser time now to go to a special guest investor and c.e.o. of and founder of ogu. miah. billion of it my own welcome good to be here previously you were the chief innovation officer g.e. digital so you've got experience in let's call it the fortune five hundred you know the big most highly complex companies in america and you bring to them your work in artificial intelligence and you are now deeply immersed in blocks shame is tough correct that is correct how does block shame factor into what you're doing now and we're investor in watching companies and ai companies and cybersecurity companies were absolutely fascinated with the empowerment that watching can bring to you how

we're going to out of power because it decentralizes a lot of the business models that exist today and allows you to have a bank on your phone versus a bank account so decentralization in this instance though is also just intermediation that means that a lot of the layers of a big or enterprise are squashed housing associations are made more rapidly and more effectively i would imagine absolutely you're absolutely correct a lot of business models that you just pointed out are going to be disrupted very fast because suddenly people can trade between themselves without ever needing a middleman there's a question for big corporations or any corporation typically they make money out of solving inefficiencies you know for example the car from henry ford was officially produced and people can get around a lot faster and the economy grew as a result but are we at a stage in capitalism where the efficiencies of these big companies is so great that the margins for profit are squeezed down to zero for example if you're in a micro transaction business and you are looking at profits that are even smaller

than a grocery store and grocery stores are only two percent profit margins or gross profit margins but you're talking about even less than two percent how does a translate into earnings growth and how does that then become we've hit peak earnings i'll just point. raise right now due to the hyper efficiency of block change not just hyper efficiency block change hasn't reached the scalability let's be clear ok it hasn't and i actually. am challenging a lot of folks out there to say that block chain is scalable it depends where you're at the fence what kind of legacy system you have depends what you're trying to do depends what your customers are trying to do so at the moment some of the platforms out there that are achieving some scale ability will need to be integrated into legacy systems and do you're right that a lot of the big companies are squeezed out and a lot of the companies are going to be squeezed out not only on a profit side but on the transparency side not just block change but many other

technologies that emerging tech machine learning satellite data cyber security a.r.v. are robotics blocked change our whole forcing transparency on to any platform that exists out there so if you don't start innovating yourself very fast you're probably going to lose out you say it has to be integrated into legacy systems y. and others these are new systems they're replacing existing systems like p.d.p. music file sharing on the web it didn't have to integrate with that's a long playing records or cassette tapes in a blitter rated that model i love that analogy that's an amazing analogy and i think you're absolutely right some industries are not going to need integration into legacy systems because they will just need to leapfrog as you just pointed out in music why do we need to go back and integrate and certain things unfortunately some industries in the world that not run that way and they are run in the way that current systems work so why change them also have to remember that

a lot of these companies run by quarterly numbers and they report to wall street and so space for innovation is very tight and so in order to mobilize your whole team to innovate in something new and see if it's worth investing your time right because remember so many innovations are coming at companies and how do you choose as a leader of a large company is there. difficult for you to achieve the cost of music on a string it's digital yet that is obviously a candidate for block change innovation now you're saying ok some industries let's call the cement industry or they're mixing rocks of couples and water and it's hard to imagine how block chain is going to transform the concrete business you've got to move it in a mixer you've got a port on the road and you've got to make a road basically so is it going to bifurcate the industry they'll be some industries that are legacy but not legacy like they're ever going to catch up with blocks and then they're dead they're kind of like the dinosaurs and we're moving into people are going to instead of thinking oh concrete needs to be blocked chains are going to be thinking like water and just use my mind to use

a block same to communicate with somebody in africa using sauces tokens better need to go there at all i'm just like flying in outer space and george jetson you know you work with artificial intelligence i mean all you go to is some tokenized robotic were or were you know my my thoughts are monetized ok can i want to opt for sunday in the in the kalahari and then there was some woman who's making hay what is going on so i think i think you're right this industries will need to be separated in two ways there are some basic core of an industry that won't change but if you look at the example of the cement industry absolutely the payment system and the supply chain will be probably not just by block change how does this if i want my consciousness expanded to the point where i don't care about jeff bezos now like if what what what's clapping are you going to. essentially hypnotize me into thinking that i don't care any more are you going to. be going to do the worst power number on the door and yes our what sort of yes the guy from from from from

greek mythology you know not for the measuring blade because the matrix may give you an idea why didn't i do you say you want the red pill but the blue pill you would have to steak i know this steak is fake but i'm eating it anyway. you're trying now in our own. it's the way to go here the background is amazing in terms of your ability to synthesize all this information and come up with your own theories but it just seems like if i look at the world today i see what humans are doing to the places they live their ecosystem you know i remember had an ant farm as a kid and if you know the answer ventilate a foul their own environment and they die off unless it's so i mean it seems like humans are doing their best to make the earth in in the hospitable for themselves inhabitable not comparable to that isn't that kind of happening and is a ready to abandon humans and i think again does are some of the really far off questions right because we don't know that yet i do think that there are

a number of people out there who are trying to use technology for its good i mean look at the centralization and walked right there's a whole spectrum of law change right now that's being developed for social good for financial inclusion and for bringing more people out there onto the economic platform so i do think people come with good intentions but i do see absolutely exponential growth of technology and our inability to keep up with that exponential growth so unless we have a conscious design into our system no technology will solve our problems will still have to have a will power and we still have to have a conscious decision to solve a problem president nixon about the rate of evolution of the well you know selection of the fittest they need tensions that are involved in this like in the technology space going a lot more rapid pace like they're out evolving us you know we're pretty slow procreation for humans is relatively healthy compared to your algorithms you know the mating with each other and giving birth to new algorithms new machines you know

and so it seems like they're racing ahead kind of in a break next speed what do we as humans have to fight back i'm in the camp of ai is going to win this thing it's going to happen a lot sooner than he wants expecting how do we fight back my give me the how do we fight right now i need to get. so now you start to maximize a civilization then just what do you do when how do we fight back not every fight about us i think you need to go to block chain boot camp learn how to block tina works and start fighting back how because of that i have some rudimentary knowledge of this one what exactly would that mean i can live with jamison locked in the north carolina hut with guns and prepare for the mock ups and start going down my neighbors yeah i again i think here are taking it to extreme we're not there yet and i haven't really thought about you know next fifty yards and. not only that i don't trust you because you're looking at me with these brown eyes you're like don't worry we're not there yet but you know that we're there we're on the stress

shoulder of the extinction event for humans and machines essentially are taking over. so i think we every single one of us as i said carries a conscious decision to influence the technology you know our ability to the fullest by the technology already our conscious minds are outsourcing our information to google no one bothers to memorize anything anymore no bonus to think anymore if your members use kinds of very true in the case of our needs our wants and our desires and our titillation that's all i don't have a button and there's no effort anymore distill the physical calorie of humans as it is becoming a blob stay we have no reason even to get up in the morning anymore the machines have taken over what were my going to have i think i think one of the things that i would point out is the pens and the place in the world you're n. a lot of places in the world that actually need to get up and need to do the work i think we belong in a bucket list lucky some would say lucky some call unlucky rain and other places in

the world they're still very far off from what you and i are talking about so i think the world is becoming very separated so geographically this is a case like that for a second in areas of the world that have been separated by physical distance it just to get water would require a trip. well into the river to ours and you're saying that this ai enabled world means that the same compression of time that we enjoy in the. advanced economies kind of is coming to economies that have been not participating absolutely in a way especially with a chill less than a being in place so is that accurate and what does that mean for these for these areas of the world exactly i think it's absolutely accurate the world is becoming quite a pretty folks say that the world is becoming more interconnected it is becoming more interconnected and it's easy for us to disseminate information and to block

change possibly even trade value right in a fast way but you're absolutely correct some of these places in the world it's going to take much longer to catch up but that you know i could argue back this is a happy ending i'm going to stop all of that answer this is a happy ending some other words the consciousness it's a word you brought up a few times that exists in places that are cut off it's now able to be shared because of the tokenization i mean so folks are being from extraordinarily rich cultures you have d.n.a. that goes back to time and i've been associated with some of the greatest artifacts and cultural and in art that is now being joined up. through the platform so my consciousness is being raised by being connected tokenization to somebody else somewhere else right that's right it's just that's not you know you see. so you see like a tapestry of consciousness to me how are men i see absolutely empowerment of you here and a person somewhere in africa that can trade something of value without

a middle person and the thing about you could have thought it could be the thought of tokenized yeah and then we're going back and forth on a micro transaction that's right right and so we're creating procreating in digital space and we're giving birth to digital offspring through the exchange of like you called digital seaman on yes. if you want to actually. if you want to chat if you want to say that. i don't like it but i'm using a metaphor of course yes you're but i hope so. you don't challenge my metaphor it's the do you my no comment so you're an investor and founder of a group which. could mean a number different than what it or distance orpheus actually stands for are yes yes but anywhere you can roam and mentality even if it's there are fears it was a. guide

a significant figure that that could charm people and sway people there his way through music and crown the music right yes i feel totally charmed and our know what this company does for your m m i'm going to follow this woman whatever she's doing i'm following her that's it i just just a future well we got to go thank you bring on thank you so much it was good to me and all right well that's going to do it for this edition of the kaiser report with me max keiser and stacy herbert thanks to our very special guest. who you know bitch if you want to catch us on twitter it's kaiser report it's like time buy oh. yes it was but we can watch for you.

yes we will but also. believe we'll do it's was mostly we're going to we will soon will but you know what the stuff in the bushes i saw. you moved you to go you know who was scott's move to the new coach to leave you know you feel you feel the reason you took stage. you will know that you know. of course if you do the armor issue you can you get other corners of the mob us navy getting us all yelling my son the president of us they. hate everybody i'm stephen bob. taft hollywood guy you'll suspect every proud american first of all i'm just george bush and r.v.'s to suggest this is my buddy max famous financial guru well he's a little bit different. though no one knows up with all the drama happening in our

country i'm hitting the road to have some fun meet everyday americans. more. closely start to bridge the gap this is the great american people. prescribe medication is widespread on the u.s. market and a frequent cause of death at that point in my life i just felt like everything was ashes my family was literally coming unglued i had planned. to commit some sight was all who was made antidepressants so commonly used we were doing what the doctors told us to do we were being responsible and what the real side effects. was is generally all to what i did was done on

a cocktail of legal drugs. just because something's legal doesn't mean it's safe. hundred sixty nine russian plates are cleared to compete in the winter games by the international olympic committee although some of the country's top medal hopefuls haven't made it on to the list. massive explosion rocked the diplomatic district of the afghan capital killing at least ninety five people and injuring one hundred sixty. the u.k. confirms will be visiting the country this year already planning to greet the present and future protests. for joining as they say. this is international. the international olympic

committee has announced that one hundred sixty nine russian athletes will be invited to take part in the upcoming winter games in south korea but the organization didn't publish the names of the athletes cleared the number did much the team size announced by russia earlier this week and it's thought that some of the country's top medal hopefuls will have to remain at. the office of the day with my. answer to the qualification of a biocide surely my belly is going to just to get to the. yes that was the highlight accommodating you know for me i won't be here again for all the time passion of the past one. was yes absolutely that

a lot i didn't get i am glad it's yeah with me just the way us which was just kept that at that flat i think before me that is that was not going to ask us to buy and i think. i thought through leaving everything behind and returning home it was my dream to compete in the olympics and i was working towards the go through hundreds and thousands of difficulties through sweat and blood. of a sort of surface rust. mostly of the

idea. before you say would you suppose that that's when the president should. we should be sure to do. is restore. the truth which took them over. to russia was banned from participating in the winter games almost two months ago of allegations of state sponsored doping but cleaner place are being given a chance to compete as neutrals on the those with no past doping violations are allowed to take part will have to also undergo additional tests the i.o.c. says that the final decision is based on an in-depth individual review the paternity has been taking a look at the criteria weeks after russia had come to terms with no team russia in korea anyone with even the slightest interest in sport and this country was baffled

dozens of clean washing star athletes never got their olympic invitations those who'd never been under any suspicion by the sporting federations or even the i.o.c. when they had everyone with a russian passport under the microscope forget about your dream end of story no explanation that could have been the case but the international olympic committee then let us know the seventeen criteria they used if you don't match at least one or rather if there's even doubt about at least one of them you're out. that could be suspicion that could even be an ongoing procedure that could be many factors which did not lead to the satisfaction of the panel the purpose is to invite clean russian athletes for which this panel was certain and has not the slightest doubt or suspicion again seventeen boxes to be ticked to get the all clear there's all kinds of things on the list from the infamous scratches on sample bottles to that

obscure final segment additional confidential information provided by wada even one of those gets you a red light but the criteria set by the i.o.c. itself might well race suspicion not only in russia take the first two which essentially unite all the rest by the way being sanctioned by the i.o.c. investigators or any anti-doping rule violation in the past the latest group of russian athletes who found out they're not go and were never involved in any of that another box to take issues revealed by the moscow anti-doping lab database well it's the whistleblower and his team who used to be in charge of it. it was created by the deputy of grigori which includes and had several levels of access until the summer of twenty sixteen it was possible to change any of the data there the world anti-doping agency coincide with this back in twenty thirteen it cannot

serve as evidence i've mentioned scratches and marks on sample bottles arguably the most solid proof that however was never shown to the public just like the visual results of the bottle flaw experiments back to the water's mysterious additional data that amounts to intelligence extracted from its whistleblower program and other sources many people in russia would like to know who these sources are and why they should be trusted one more segment additional intelligence provided by the international winter federations i'll tell you what the association that unites these federation said the i.o.c. our request to clarify what's going on some federation official seem to have been racking their brains while the president of the international biathlon union was particularly outspoken it is very sad if there is no direct proof of guilt the i.b.u.

tested human numerous occasions and never tested positive for a banned substance so apparently it's all down to the criteria of choosing the right criteria russians who can vote in the games will have to follow strict rules codes of the latest guidelines they must not participate in any events associated with russia's national symbols which is the flag or national anthem the same goes for social media with the posting of official symbols have been person athletes are also prohibited from participating in alternative victory ceremonies including any organized by the russian olympic committee russian competitors can though display the national flag in the bedrooms. the president of the russian cross-country ski federation announced the finalists to her team while training in austria and she expressed her for frustration over the i.o.c. decision. present but before i was encouraging everyone to go to the games and

stand your ground now i can see the same because they have major concerns over how cynically the russian athletics have been treated some panel decides who will be invited and who will be not even if that person did not take part in the such a games and was not mentioned in any reports and this is not just our team i'm talking about maybe now is the time for you to perform stronger than ever before hold it has high and prove that the way we have been punished is unfair and cynical and against the spirit of sport. yukos or else donald trump will be visiting britain in the second half of the year despite activists phone to stage a huge protests when he arrives the president seems unfazed i think a lot of the people in your country like what i stand for they respect what i say and those who voted for tough border are going to come to that number of those who don't what do you say to them i don't care i don't care it's just one of those things i don't i don't see anything in or because i don't care trumps visit had

originally been planned for next month so we could officially open the new us embassy in london but the president canceled the trip claiming he wasn't happy about the embassies move it's our leap in looking at how the u.k. and us failed to find common ground in twenty seventeen. the u.k. prime minister to reason may has invited u.s. president donald trump to visit the united kingdom later this year it comes as the two leaders met at the world economic forum in davos and also comes amid rumors of a breakdown in the relationship between the two countries the feeling is mutual. like you a lot closer with a. false rumor i just want to correct the record straight for getting into. whether or not what is real is that twenty seventeen saw a real strain in the so-called special relationship on the. injuries.

was the only. reason made don't focus on me focus on the destructive radical islamic terrorism that is taking place within the united kingdom we're doing just fine and perhaps a change of heart by president trump in order to repair that relationship he's indicated that he's willing to apologize for retreating britain first if you're telling me that to harpy people horrible racist people i would certainly apologize if you'd like me to do that i know nothing about them previous announcement of a potential visit by trump has provoked a backlash amongst british politicians i would not wish to issue. a way to speak in the royal gallery. previous report suggests that mr trump himself postponed a potential visit to the u.k. because he didn't want to be greeted by huge protests and attitudes.