so again to my point here's a regulator talking tough there is a regulator talking sweet kisses good cop bad cop this is what cops do this is what the government does big coin itself is on an agenda it's has a rock you know i love this story that the british banks are being hacked into and people are mining big coin because if anything you can do to destroy burnished banks and wall street banks is a positive toward a better humanity they are the pox on our civilization big oil will attack them in many different ways if you're going to undermine them by mining and basically collapse from the inability to have the energy to survive then that's another great way to destroy. this playing this this locus disinfestation called you know the banks. of course i c.e.o.'s have nothing to do with bitcoin or theory other than riding on top of it they are finance offerings whether

or not ever anybody was trying to pretend otherwise in the second half you do talk to patrick byrne about regulators and his he is doing and i say oh but as a security so he's doing above board with it when the cops raided the whore house they take the piano player and i'm saying so they'll come in there and say all these i.c.a.o. zoeth they're all securities you're all going to jail and by the way you guys in the bitcoin camp are coming along with those really awesome questions for you right so i mean this is a war this is the war that we are been born to fight this is the worst a toshiba put us in the playing field to do battle this is so i mean this is great that this guy's speaking nicely but i don't trust him as far as i can sit home while we're there another fake so she came forward by the way by me and said toshi i wrote this blog post dot com and that was referring to so she roundtable which is the true vision of suppose she's vision which which is that we're ever we are now.

wherever big queen is now is suppose she's vision it doesn't matter what she was thinking nine years ago it's what is developed now and the overall conversation there as to toshi round table remember these are the one hundred two hundred of the . top engineers investors and developers in this space and lightning network was by far the largest most important technology being developed around bit coy when the other big issue was speaking of regulators and financial stuff was ted there and other guys from both annex did talk about that. are opinion and we are investors in bit for next time i say but our opinion was that the market just like the market told us mt gox is going to collapse the market said says about tether at this point anyway that it's all there and it's all it's a well i have my own version of the coin and what i find as the highest for delivery to that which is presented in the white paper which is about unifying the

world's collective unconscious and that's what this technology will do to usher in a new universal consciousness as does the best us so we can expect and there's no room for pigs like jamie dimon we've got to go second have don't go away much more coming your way. twenty forty you know bloody revolution here to crush the demonstrations going from being relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it just always here i mean your list put video through in the. school in the middle of the former ukrainian president recalls the events of twenty fourteen. of those who took. invested over five billion dollars to assist

ukraine in these and other goals that will ensure a secure and prosperous and democratic. path to mars and coalition negotiations germany's two largest parties have provisionally agreed on a compromise that may yet pull through. these difficulties a sign of something major going wrong in german politics the birthing pangs of the country's fourth brown coalition.

welcome back to the category four and imax keyser time out to go to a catamaran out in the caribbean off of cancun or i added a chance to talk with patrick byrne of overstock dot com who's coming out of course with zero patrick for traffic welcome back to the cars report thank you max you know me it's my honor as always you know some talk about lambeau you know you've taken it up of course to the next level with you know on the catamaran sets a stick and imagine yesterday there with sending a tussle and out of space you know you're part of the visionaries of this world and you know i'm going to stop that well i should be clear this is the hotel's count around yeah we've been started maybe we should ask the hotel and see if we can launch this and outers you know i think that's only appropriate now let's talk you know i often say that the history of bitcoin is really two stages there was the

protocol launch in two thousand and nine and then there's static burn and what i mean a by that that this industry was always going to have a rendezvous with the f.c.c. . you know it started off as a kind of a hobbyist paradise it became a currency it became widespread and now this week we've had some hearings in washington from the f.c.c. and first my first question is patrick. do you is it fair to say that you have been waiting for this day and so this is no big surprise to anything you've seen so far you kind of like what you'd expect correct. yeah correct and it is you get the the dramatic are where you get the irony involved in this whole narrative arc that we've that this is turned up but yes. it's what i've expected in terms of the empire striking back you mean like that of the pushback. from the establishment let me give you some background so in other words. the episode that you had at

overstock and being the c.e.o. you did battle with the short sellers and the naked short sellers and there is kind of a loophole in the way transactions are clear on wall street where the book that is keeping track of what are the buys and sells is. correlated on a daily basis and you can be selling stock that doesn't exist or not cover that stock for a period of time and you can engage in a coordinated attack on a stock price and you went to battle on that front and the lessons learned from that patrick you preload it i think i may say you were you were jesus year zero project and so it's going to be mad at your city to go to match your strumming my face with your fingers is it really characterization another that's

about and i learned a whole lot in the course of the outlaws series i grew up in the holy church a capital markets i riz raised by economists in a business intellectuals and i love capital markets and when i'm when i got public and started wandering around zero two four and five and started understanding what was going on including i was there was a bunch of small skunk and there was a bunch of skunk in there and there were people who asked me up in greenwich connecticut to ask me to take part in stuff so i was a speculating i knew what was going on because people are asking me to take part in it i thought life was like the pelican brief or you figured it all julia roberts figures it out writes up a draft puts that the whole world comes for aid turns out it doesn't work like that because when all roads lead back to goldman sachs and what you're doing is it turns out you're exposing a huge source of profitability mesha guess that is a source of profitability for goldman sachs the whole world sort of attacks you so i will not talk about picking up on that because. goldman sachs and wall street

they are in the business of making markets in those markets there is a spread and by being both the buyer and the seller in these markets and providing quote unquote liquidity they are highly profitable in a business with you might argue very little risk in a way and they're printing money ok let's talk about your latest creation g.'s euro because this is as the name implies really touch into a huge profit center because there is no. ability to do a lot of the shenanigans that we've seen over the years is that a fair statement and can you give us an update on teaser well i would say and because there are various public offerings going on i have to be somewhat restricted by what i say i can't talk about the profitability or potential profitability but yes this diagnosed exactly what we're doing we're taking this core business of goldman and the various prime brokers unfortunately i don't think they make all their money from just buying and selling i think there's also

manipulation and as you and i have talked about as you just mentioned so it's not only it's not only is attractive because i think it takes about eighty or ninety percent of these friction costs out of the system so what it really does it is that will block change based capital market will eliminate the possibility of all kinds of mischief so whether turns out to be. profitable or you know we're taking on the establishment so i can't guarantee anything but some one simple example would be the number of shares that a company has in their float would be on the block chain and it's amenable and it's accountable and example against rights in iraq obvious advantage to block change complete transparency for of a regulator you know when regulators see illegal activity in the market now they blew sheeted they try to track it and they can't even at all disappears into a mist of priene adding in that. thing and slice dice circumcising and nobody

actually knows who's behind these trades because everything is netted all that can be stripped in the regulators can have one hundred percent transparency and a good tomic level of the market right to some background on this phrase netting and trade having an experience on wall street myself like in senate confirmation to a customer with a price that does not reflect my commission because of what i did in that sense that change on the spread and the huge wakil room that goes on and there are guidelines etc but there are only abuse so that's where the f.c.c. let's get into that they had hearings this week they finally caught up to the block saying a big point there now answering the arena. where are we in this is why i preface this by saying you're battle hardened and ready to go is that what i would be hearing to go in your view were what did you learn or. how did you view the hearing well what i'm seeing is that the regulators are not monolithic there

are humans and there's different groups within the regulators some people within the regulators really get blocked change for example the people who are concerned with systemic risk get it and love it the people who are concerned with really enforcing the rules they love the fact that this will take a whole bunch of mischief out of the system the people who seem in my experience at the federal level who seem to be opposed to block chain are i believe well ten years ago let's put it this way i meant a lot of officials who i think they were dusting up their resumes for their applications to big law firms to work for goldman sachs and they had no interest in and any of the things i had to expose before away. i think it's actually a different world now and there's a lot more regulars who care about things like systemic risk and such but there are there's still an element in the regulatory class. who i think they're. at

least their position has been to push back on this for i think no more of the reasons than you know they got in there on some one speed dial somebody in greenwich connecticut has a speed dial you can tell the regulator pushback on that it's going to eliminate our profit opera and we're not that explicitly but anyway so there is regulatory pushback but i see more and more of the regulators. you know i've been down here we're doing tank koon this week max so i'm not entirely sure but i think that the regulators are showing real movement and understanding of this is a good thing overall it's a good thing it's not good for their you know their clients if you view their clients of the captured regulators as being bold in fact it's not good for the the the regulatory clients but if and that's their client industry that they have had a history of protecting but i think we're i think they realize this is too big for them to stop and there are plenty of people and the regulatory community who want who are. there are open to this going forward that's

a very diplomatic thing my tell me yeah that leaves at as you always do good cop bad cop when i hear comments from these regulators that are like you know we need us there in this new generation of entrepreneurs and risk takers and the their warm little cup of milk and their bedtime and such on them and wish them good luck this is the old good cop bad cop patrick you would be the least naive person in the space i can imagine holding springs eternal hope springs eternal i don't head what do you mean you're doing so at that so i thought that there's no none of these folks are going to give up and instead the monopoly pricing power of wall street and this is going to be a tooth and nail battle i don't see how it can't be. just a now about now having said that your product as i understand it is a category killer you know you're going to wipe out all the inefficiencies like hoover killed you know the business in a lot of ways a transfer on the business p.d.p. . file swapping kill the business with cheese dear oh you all right because you're

already. where you are you've got you know you could be the guy in the moment on wall street your thoughts your family from your lips to god's ear certainly i'm aiming to do that and we're are now we're raising capital do that and i would. you know i would emphasize this is a moon shot i'd love to hear your thoughts on my chances because you know we're raising two hundred fifty million bucks that with which we hope to sort of recreate or rebuild a wall street acco system but a complete block chain version of that i don't know are you sure to let me just say fifty fifty what are the chances that we can do that without getting blown up for me thrown in jail fifty fifty eight or one hundred percent chance of success because they know they're evil and evil loses at the end of the day and still should not come out is pure goodness pure goodness it's it's merits pratik it's

a paradigm busting and the f.c.c. is way behind the curve they're just learning about this by the time they finally figure out they've been feet it'll be too late and that's the way it's designed you know there are guys here i've met in the last two days if one of us doesn't disrupt wall street the other one well i can tell you that we there well there is some fantastic technology coming i've been trying to tell the f.c.c. for three years and it's. yeah well they it is good to see that they are having hearings and waking up and getting that this this is going to change the their world right. well we've got about a minute left and i guess i would be remiss if i didn't explain to people that the reason yeah this particular style clothing and i were going to actually enter the dragon on the beach right i'm going to be bruce lee i believe you can be chuck norris you killed my father i must have revenge. the zero is going to go on wall

street and i think that'll really go over well could be and over stock marketing material what do you think i mean i'm sure a lot of that i mean this is you beg for this type of branding i mean this is sent from satoshi i'm sol. i don't think there's anything i can do at this point that we're shocked the shareholders maybe i don't mean to ferret out but there's always room to chalk and all our hopes all right back to burn thanks so much for being on the cars to report to see you again max i love your i love your i love the cars a report watch it all the thought well thank you so much and that does it for this edition of the kaiser report with a nice guys are his days are numbered like to thank our guest patrick byrne of teaser oh if you want to reach us on twitter it's kaiser report bill till next time by oh.

i. used to miss lucian in the spokesmen came. to sniff the first thing in the room with them which. is a. little bit so if it was just almost trying. to get to some other time you just. let.

in america a college degree requires a great deal. paying a decade's long debt. studying so hard it requires trust to. go he through humiliation to enter an elite society. and paci dead sometimes quite literally. want other true colors of universities in the u.s. . well .

one of the deadliest campus shootings in u.s. history seventeen people are confirmed dead at around a dozen injured a high school in florida we've spoken to a student who was in the school as the tragedy unfold. just like feel very disturbing and a loss is like i don't know what they were like so like so stuff i just don't think that binds us all is going to be like the same up there with. the u.s. secretary of state is meeting turkey's president tells america begins to reach its rhetoric on the conflict between the kurds in syria also ahead this hour. raise your hand if you would recommend that private american citizens use one way

or c.t. . products or services. not of your generation thank you for that u.s. intelligence warns americans against using chinese made smartphones but the warning comes from those embroiled in their own wiretapping controversy. from our international news center in moscow this is our team names you know neal good to have your company we start with the aftermath of the school massacre in the united states seventeen people were killed in a florida high school now that least a dozen others are reported injured video emerged online which seems to be from one of the classrooms while the attack was on their way please be warned it contains up setting scenes.

well as shelter inside the school in the city of parkland public students were seen running to safety this video was taken while the gunman was still on the back of the killer set off a fire alarm to draw people into the open to coles as many injuries as possible armed officers rapidly swarmed the campus before leaving people's own stuff to safety. well we spoke to police one of the students in the school at the time of the shooting in parkland. world. like about to leave school those years before the bell rang supposed to ring. but the final lot of. started so low clouds but the school.

and high because it's not a fire drill it's going to school grads and it's just like everybody still thought it's going to feel like they grew out of the they do in the schools but then we just here are the people second talking about life is short you know like in the next village and. stuff i already got and this is serious. world as it all those will be on the floor like so nobody can see us and all that stuff like not to be on our phones and. it's. also when we realize this for you know we would just like it waiting at some point they came and they told us like like thirty minutes later this all goes like everything's clear around but like we're not going to let you out like right now because we still you

know the school everybody was just trying to reach out to their friends and their family. world a must i just like feel very kind of lost because like i don't know what will i call it sort of so like so stuff because like it's just never have been so me and so i just don't think that going to school is going to be like the same up there with fun because i feel like knowledgeable glosson the view of the shooting was. yes pulling it was speaking we're looking at pictures there from this scene showing distress of those touched by the trench being this is how the deadly incident on falters. he saw my dead body there on the floor and lower on the floor how many people like five on the third floor. it looked like students it was one teacher and four students.

so they do pull the fire drill you want to side boom boom boom boom marriage gosh i doze firecrackers but there is a lot going on. so i like coming in being like a going to shoot at school you like start taking a family i love he could never know a biggish. is the word that can describe you because at that moment you're wondering is my kid easy or casey say. i want to shut up i say this is a catastrophic. and convoluted with catastrophic game for our county history it's

devastating i'm sick to my stomach we need to talk about it i woke up this morning and i said this is happening in my backyard this is my backyard where this is video of a florida shooting suspect arriving a county jail police have identified the suspect as one nicholas cruz a nineteen year old former student of the school who was expelled for disciplinary reasons and some new details about the suspect cover merge linking him to a white nationalist group police said he was armed with a semiautomatic rifle and had multiple magazines. a cruise has been charged with seventeen counts of pretty meditated murder. described the suspect as troubled it's been reported teachers were warning about him some time gore had been warned about him enthusiasm for firearms as well in his free time on the f.b.i. says it had investigated nicholas cruz for a youtube comment on

a documentary about the nineteen sixty six texas university shooting it said quote i'm going to be a professional school shooter. in the u.s. has a long history of school shootings there have been two hundred seventy five incidents since twenty thirteen that's enough range of nearly one a week eighteen shootings have been reported in schools so far this year here's a look at some of the most serious cases in the past decade.

so over three hundred million guns is enough for every person in the united states to have a gun it's insane and you know we license cars you can't just get in a car and drive it but you can get a gun and shoot it you don't need any training you don't need any licensing. and a lot of states now you can carry them. undercover legally there's a lot of nineteen is in this country about how guns make you safer and they evidence is all to the contrary. the u.s. secretary of state is set to finish up his relations building two of the middle east in turkey rex tillerson has arrived there for a much anticipated meeting following a souring in ties with the closed door talks last that for more than three hours

the details probably won't be released until a news conference planned for friday it comes as the nato allies have been at odds over kurdish forces in syria but washington's rhetoric seems to be contradicting itself parties came up and has been following developments. in the lead up to tillerson za visit we heard a number of words from u.s. officials indicating support for the turkish government which is a member of nato and saying that their security concerns are legitimate this is what we've heard from u.s. leaders nato has only one nation and one of our allies. and insurgent inside its own borders and nato and america stand with turkey on a good image should curity concerns we have never given heavy arms to the wife e.g. so there's no one to take back the turkish military is in syria fighting against kurdish forces kurdish forces that have been armed by the united states now it

turns out a number of the forces in the s. d. ath have actually relocated they've essentially gone to a wall from their position elsewhere in the country and gone to northern syria to fight against the turkish military turkey is demanding that kurdish forces be expelled from the anti islamic state fighting force led by the united states in syria however in the past we've heard u.s. leaders quite adamant about their support for the kurds the coalitions we can join with the syrian democratic forces to stop mission train the new soon board a security force currently the proximate two hundred individuals training in the b.s.f. sanogo close with the goal of a final four sons of approximate thirty thousand now the turkish government considers these kurdish forces operating in syria to be terrorists and feels quite threatened by them and has been a long outspoken in demanding that the united states and its support for.