early access to crypto currency trading so seventy eight percent of the users of this seventy eight percent are between eighteen and thirty five years old their millennial zx they they want to they're pouring into this app in order to have access to crypto currency trading it's only allowed in california massachusetts missouri montana new hampshire first and then a real roll out across the rest of the united states but looks pretty big news yeah it's amazing they have over a million and it's just those five states so if robonaut is available in all fifty states who are saying what you know what that would be ten twenty million people would be signing up for this which is an enormous amount of people and cryptocurrency is a really caught the imagination of this generation that is rejecting the old school model of banking and they like the censorship resistance of crypto currency and individual sovereignty that it brings so this is part of the new generation a lot of people are saying the likes of queen bey should be worried because this is a developed app that is already in existence this robin-hood app is what else i've

been using to trade stocks now they're in it's or so it's already something they're using to trade stocks and now they could trade cryptocurrency s. but you know the news in the past week as well has been that this exchange in japan was hacked of some crypto currencies four hundred over four hundred million u.s. dollars worth of currency and then these three young guys these three young japanese guys came out and had the press conference and announce that they would give cash on hand back to these people four hundred million dollars or it was is a huge surprise because i hadn't even heard of the exchange we've been around and cryptocurrency sector for a long time and yet they made enough money to four hundred million dollars on hand to reimburse people who had cryptocurrency stolen or i want the other markets capital owners who are five to six hundred billion and that just happened the last few years and they bother a v.c. funded entities that are on the periphery are worth another half a billion to a trillion so there's a lot of cash out there. there's

a lot of cash out there and then i want to turn to this headline about those same sort of millennial is now pouring in to the stock market it's a tweet amazing retail trading activity is going parabolic explains a lot this is a chart showing trading activity at retail focused brokerages is skyrocketing the gray line on the top is the s. and p. five hundred but look at that blue line that's going parabolic even more than the market and that's each trade ameritrade and as a percentage of the new york stock exchange trade as you see those are all the young kids as a millennial is especially retail the down money pouring into the stock market at all time highs and you know well you know markets go to a subtle benching to see how this generation deals what the correction and we could easily see a fifty percent correction in markets across the board and the bond market looks pretty weak and we'll see how this group deals with that i'm curious to see how they handle it now in the second half we have

a tremendous more amount of information to cover so don't go away stay right there we'll be right back after these words. across europe municipalities are taking their water supply back from private companies who p.m.a. to me to peep out of the holes with simple song alone even find company elsewhere though they invite private companies to take over their utilities anybody tell us throw up on a lab so miss you guys we got booked video while on the going to go by ben this is

us the quote them out. for you man but the lift hill brought up locals are ready to stand up for the basic human right of access to water it's about water but it's also over much more and more it's about the hurt and the redistribution of. words and their date downwards we want our. welcome back to the kaiser report i managed to put up but but hey max in the first half we ended with talking about the robin hood ads in the united states offering to five states within the united states mostly to their clients who are

a millennial seventy eight percent of them are eighteen to thirty five years old they're signing up in the millions in order to get early access to crypto currency trading so this could see in evolution in the maturation of the cryptocurrency market people are going bonkers for crypto currency in the virtual space but also in the real world this is bleeding over into the real world this is an interesting story that hasn't got much attention in the cryptocurrency world which i suspect means that some of our friends are actually maybe behind this and this is the tesla effect taino industrial park only out of land after seventy four thousand acre sale the tabu reno industrial center billed as the largest industrial park in north america is nearly out of land about seventy four thousand acres which is one hundred fifteen square miles of the park east of sparks nevada was recently sold for about one hundred seventy five million dollars t r i partner broker lance

gilman said on the vada newsmakers the biggest buyer was block chains l l c they say there's some block chain company they've bought one hundred fifty square miles in the vada right next to the lawn mosques five billion dollar tesla battery factory what's going on well according to the developers and sellers of this land of the biggest buyers block chains see which is at the forefront of one of the most revolutionary innovations since the advent of the internet block chain distributors allegedly doing all those less well. according to the developer gilman yeah he says quote locked chains will be a city within itself so right so they're creating a sovereign state within that state is their seceding from the world using their own currency it's going to be in their own world it's going to be block world we don't know nobody knows who these people are behind block chains l.l.c.

it's a mystery it could just be one of these companies that adds block chains to its name in order to add value could just be like but it's a private company it's exactly they're not getting any halo effect there's no bump they're creating a mission within a mission unless it's next to tesla where they get the battery power they've got to go off the power grid to get at their own block chain their own governance it's going to be a nation within a nation what's this is again it's in the bottom of honor and so according to gilman the property developer who sold this hundred fifteen square miles to a company called block chains l.l.c. he said so think of this in terms of residential project that could be four thousand housing units and apartments along with a shopping a full cybernetic community based on the block chain theory and technology they pick up a huge amount of property along the freeway interstate eighty for what i would call freeway visible retail and that would include everything from hotels truck stops to restaurants again all with

a block chain technology foundation so ok so that is could be a development of like a whole community. inputs and outputs the housing shopping health care and obviously nevada have gambling and whatnot so it's going to be an attempt to create a block chain enabled community nation within the state of nevada again it's one hundred percent speculation because all we have is as you can see from this guy he doesn't really know that much about walk chain and the fact that he thinks you're going to advertise it along the interstate freeway but i'm thinking it is either somebody trying to. sell flip condos and they think adding blotching to it will add premium just like block chain to their name like kodak does or you know long island iced tea as blocks changed their name in their stock price stores it could be something like that or it could be the fact that it is next to tesla it could be.

musky is always talking about a block scene and bit quick flame thrower as it could be the nevada is a zero percent interest is zero percent income tax state it could be the libertarian sorts who are in nevada already somebody like me or huge as a bird with all these sort of people there many many thousands of peter mares and thousands and thousands of people within bitcoin are libertarian sorts perhaps it is a sovereign nation that they're building highlander land in the mata anyway nevertheless i thought it was interesting i don't interesting because it means the us government will be challenge from the voter i very much doubt it because even the sovereign nations of like navajo nation or soon it look otoh a nation they have no sovereignty even though there can't direct their own money and so try to look totally going so recalling but this is like going to their own mint the nevada you know crypto coin new liberal land in the votto next to the

textile battery factory can challenge just that a reserve bank nevertheless this new sort of world of dreamers from mosque dreaming of these teslas and hyperloop and going to the mars to the open possibility of what you can do with a crypto currency and create a new economy it seems to be driving some sort of investment and movement in nevada in this new world who knows they could be developing their own city within a city states yes you know many people say that's what the future is a city states we're going back to the city state which would of course make sense if we're in a neo feudal world to have city states. on top of that we have what the west is reverting maybe two city states i want to also call your attention to another story that while we were basking in the sun in miami and los angeles there was another story that happened that also got zero attention in the u.s. media in fact this headline is from the b.b.c.

but this is zero attention in the u.s. because of course they're focused on conspiracy theories most of the news here and gossip so china to develop arctic shipping routes opened by global warming china has announced plans to develop shipping lanes through the arctic to become a polar silk route beijing said global warming meant viable shipping routes through the arctic would become increasingly important for international trade and it's a china would work with russia and other arctic countries to develop the polar route so while china itself kind of stays part from the global warming protocols onto which all other nations sign up. and in the west we have many climate change deniers who are mostly eating tide pods i don't know if that goes hand in hand i don't know which comes first like are you a global warming denier first and then you start eating tide pods or was it eating

the tide pods that caused you to become a global warming denier that maybe mess with your brain circuitry maybe basically what china has done is the opposite of the opium war is they've sent us these tide pods probably i'm assuming they're made in china and they did something to it to entice. westerners consume and clearly that's happening and it's part of their initiative to conquer the globe by destroying this entire generation has become addicted now to place type parts and we see this really as a continuation of the jim jones call indiana remember he had everyone drink kool-aid and there was a mass die off here they just create pretty little candy like tide pods full of hallucinogenic carcinogenic chemicals and of course the millenniums find this irresistible because they were grown up on things like teletubbies i remember that t.v. show where it's like a walking type are saying in drivel on t.v.

but hypnotizing the generation to buy into i phones and other consumer goods that bind them irreparably to the slave mentality of the electronic ghetto and that's really what another type odds are really the drug of the electronic ghetto if you go into any prison system you'll find people getting high on lighter fluid or cleaning fluid or paint chips here this generation that was the electronic ghetto they actually see type as this generation's twinkie you know i had twinkies when i was a kid and that kind of messed us up with the saturated fat and lard and fake. food stuff that that was the synthetic food movement of the era of the seventy's we went not green but spleen or all the food became essentially rich so we started the show yeah this story about spoofing in the gold and silver

futures markets people who cared to look could see it right there on the screen happening was its leaders day it's plain as day a lot of people said it wasn't real regulators said it wasn't real everybody said it wasn't real nothing happened the same thing here you could see the ice melting by the. fact that you could sail a ship through of course russia in the last year or two sailed a ship through for the first time without an icebreaker so you could see with your own two eyes that you could sail through but the same sort of people who compose our economy of tide pod eating sort of consumers they will say that's not real so let's not look there in the meantime china of course which is denies its role in they never sign up to the sort of global protocols that we're going to colder and yet here we see them bill planning

a polar silk road a lot of people say can happen can happen cat can happen they're going to eat my god pod i'm going to eat my tie pod i can do that but yes so what's your point there that in other words there's a climate change deniers and meanwhile there is a polar silk road being built through the melting icecaps so it's obvious that climate change is happening and the world's ecosystem is being irreparably damaged and transform before our very eyes and the us is losing into a summer one the climate denying is precluding them from dissipating in this new economy number one and number two the effects of the climate change the weather catastrophes the global you know migrants that are the result of it and all this other problems are hurting the u.s. economy on the other side of the trade so you've got a double bind happening from the myopia that comes with failing to see what's in your fridge and face that the sea levels are rising the ice caps are melting and

the world economy is changing and its favor and those that are not blindly to this blind to this kind of what you're saying there that the economy you could deny all you want that manipulation is happening in the futures market you can deny all you want that the ice is literally melt. in front of your freaking eyes and the ships are going through with ice breakers and you know if it if you need to i don't know how many types you need to eat to make that's what i thought reality was plucky. plucky i many times was do you need to eat to be a climate denier or good question. how many forty seven. for you. look like he's done help is there use a healthy bird look at this healthy bird time part eating doesn't think that it took useful than a one way one bit pluck you worry about we haven't seen him for

a while. oh my god that was quite a journey oh. well back to china and the arctic polar the silk road china hopes to work with all the parties to build a polish silk road through developing the arctic shipping routes china said in its first official policy paper on the polar region and said every country's right to use the arctic shipping routes should be ensured the new route could take twenty days off the forty eight days it currently takes to get to rotterdam from china via the suez canal so as you see the theme of the show is this notion that you can all the ignoring the proof and evidence ignoring the spoofing in the markets ignoring global warming ignoring the power and awesomeness of cryptocurrency doesn't make all the development happening in the real world go away people are going to take

advantage and seize the opportunity that you decide to ignore while playing with plucky or eating thai pods well said every empire kind of crests and then falls apart based on a certain imperial narcissism well that's going to do it for this edition the cars are part of the most geysers days are but i think our guess. plucky if you don't read just on twitter at kaiser report and select on bio. what politicians do something to. put themselves on the line. to get accepted or rejected. so when you want to be president i'm sure. most somewhat want to be pressed. into going to be pros this is what i'm up for free in the morning can't be good. i'm interested always in the water using my. first sip.

hey everybody i'm stephen both test hollywood guy you know suspect every proud american first of all i'm just george bush and owner of the jews this is my buddy max famous financial guru just a little bit different i'm. going to harness the well you know with those with all the drama happening in our country i'm rude have fun every day americans. and hopefully start to bridge the gap this is the great american. success.

this is boom bust broadcasting around the world from washington d.c. i'm part of it coming up we take a look at the tumultuous market tumble with two experts and digital currencies are again in the headlines this time as the chairs of the securities and exchange commission and my old agency the commodity futures trading commission testified before congress plus wells fargo is still in the news as the u.s. federal reserve places rough restrictions on the bank we'll get into that with eric reimer now let's check out some of the stories topping today's headlines. on friday the dow jones industrial average plummeted six hundred sixty six points abets not an ominous number then yesterday making friday seem like child's play we witnessed the largest point drop ever ever amongst the dow industrials a drop of over eleven hundred points for those in the u.s.

watching and wondering in real time why the boom bust team was it sure seemed like panic. selling as the market had dropped from five hundred points down to sixteen hundred points in seemingly no time at all it has been and may continue to be a monumental market moment in history r.t. correspondent trinity chavez has more from wall street smart there's a lot of frayed nerves here on wall street as the global stock bluntschli volatility in its wake yesterday we had this single biggest one day drop on the dow jones on friday the dow opened up twenty five thousand this morning in the low twenty three thousand nap that fell on the poor percent on monday also on monday around the world japan's nikkei index and the hang sang of that vote this close to five percent of total value this is a high composite dropped on the screen a half percent in the stock year of the two hundred last three point two percent this slide is more surprising and even more unsettling as the comes after the rally

in the beginning of the year and after historically low volatility in the market reports from top. trump administration budget director mick mulvaney continues to drastically reshape the consumer financial protection bureau or c f p b last week mr mauvais the strip c f p b s office of fair lending and equal opportunity which pursues discrimination cases of enforcement power is action was denounced by civil rights groups at the same time mr mo veiny c.f.p. be his undoing in obama era regulation on payday loans and has dropped notable pending payday lender cases including that of one company world acceptance corp that had donated to mulvaney as political campaigns payday lenders previously donated an estimated sixty thousand congressional campaign dollars to love a neighbor tween two thousand and eleven and two thousand and seventeen mo then a c f p b is also reportedly scaling back an investigation into the equifax data

breach last month mr mo veiny was criticized for saying c f p b rep. zent lenders when his agency is specifically chartered to protect consumers by law and by name. the general manager of the bank for international settlements has some remarkably harsh words for crypto currencies general mattis manager gustin carsten addressing an audience in frankfurt germany earlier today referred to bitcoin and its peers as quote private digital tokens posing as currencies before saying that bitcoin quote has become a combination of a bubble a ponzi scheme and an environmental disaster carstens also set up authorities to not act preemptively crypto currencies become could become a threat to financial stability carstens comments carry heavy weight due to his standing amongst the global financial business class his resume includes lending the leading the mexican finance ministry and central bank and

a stint as deputy manager of the i.m.f. the international monetary fund bitcoin value dropped by fourteen percent falling below six thousand dollars after carson's comment but later rebounded and we'll have those exact numbers at the break. but right now we continue to discuss digital currency is with jared andersen he's the director of simpler trading crypto jared thanks for joining us the chairs of these securities and exchange commission and the commodity futures trading commission the c f.t.c. testified before the senate banking committee today take a little listen to their opening statements we the f.c.c. and the c f.t.c. do not have direct jurisdiction over the popular markets they trade true cryptocurrency. this is not an oversight it is the result of a new product and market to see if d.c.

has produced a large amount of consumer education materials and virtual currencies including written statements podcasts women ours and a dedicated a bit coin website we've even schedule visits to libraries and briefings for seniors we've never conducted this much outreach for any other financial product jared what's your take on that here and i know you were watching intently today what are your thoughts. yes so i watched the whole thing and you know i i honestly think it was sort of just a bit of an ambiguous talk overall there was really a lot of back and forth but without really any definitive. statement on what they intend to do the one thing that stood out to me was regarding i.c.a.o. is where you know many points people across the board you know brought that up in how much money was raised and the inability to track really where the money was raised from so the one thing that came from me was. it kind of eliminates sort of

the cloud overhead that you know i think the market was really waiting for for some clarity from this but really the only thing i heard was that they are pushing towards regulating i see those and have kind of made the warning to anyone doing that to this point no one has registered with either agency to you know to push one of these out so in my mind i mean it kind of gives the green light for bulls to put you know potentially step back in i think we might have that clip and you're right that was that was our takeaway here bust also can we roll that clip on elizabeth warren and clayton so it is not new it is our it isn't new but it is not ok and it is not another way to raise money correct i am understanding you to say it is violation of the law yes ok so so there's a question about these i see those but the elizabeth foreman jake white they're

saying they are operating outside the law does do you think that means that the i.c.'s are going to continue to be done in the u.s. jared only under increased regulatory scrutiny or are they going to move someplace else outside of the u.s. . so in my mind i think we'll see both i think you're going to see a new wave of i.c.'s come out of the us that are going to the lengths to be compliant i just think that it really needs to happen to a certain extent i'm all for kind of the government keeping their hands off things but in my mind you know just talking to different people there have been a lot of people taking advantage of. you know with that said i also think that we'll see across the globe you'll find you know these safe havens for. you know we see that kind of thing with tax evasion and other things like that and i have to imagine with i see we'll see something similar ok so separate from the i see those how about you know regulation in general in the digital space you said you know you

don't prefer it but you know i sort of look at it in two ways one you've got to protect consumers i think or at least somebody does you may think that it or not government but we've seen so many times where we've had computer problems whether or not it was mt gox or the one coin check in japan just last week where you know hundreds of millions of dollars are lost that that's not right so is there sort of a middle ground here gerri between overregulation that forte's innovation in this really innovative promising space in my view and protecting investors or should the government just keep their hands off. yes i mean it's really a great question and i think you know you kind of hit the nail on the head there too you know a bit where. i really think that you know it's on sort of the consumer in one way to look at is where if you know i'm investing in these things and so i take it upon myself to act as sort of the bank where i'm going to lengths to to store these

things you know via cold storage or hardware wallet things like that you know where you mention mt gox being sort of the issue keeping on an exchange now where regulators i think need to come in and they just need to you know paint pretty clear lines how these companies can sort of operate where they're not at fear of being held liable for breaking the law so i think if they were to come out with some clear statements on here's what we expect and you know we'll let you in of a because that's always the biggest issue with you know government interference is that stifles innovation across you know where block chain i think is going to change the world you know not for just finance but for things like voting and you know just sharing information in a very transparent way so yeah i'm very hopeful that we will see you know lenient you know regulation at least initially i agree with you actually on most of that jared and one of the other things that see f.t.c. chair giancarlo told the banking committee and you may recall it from sitting through all of it today was that he thought that we should look at digital

currencies and block change sort of like we did the internet when the clinton ministration was in place and and give them sort of a free pass of some of the regulation so that we didn't for innovation that happened then it sort of worked although i guess that's subject to some debate so anyway we thank you so much jared for being with us jared andersen the director of simpler trading cryptocurrency thanks for being with us hope you'll come back again yeah thank you for having me really appreciate it. wells fargo a historically important part of our american heritage has been in the woodshed for a few years now and for good reason they establish sham accounts for their customers and charge them for things they didn't won or ask for amongst other things they have been hauled up to the hill before the house and before the senate and it was not a love fest best you were competent at worst you were complicit and either way.