are doing this ok so i started to pass the arizona house of representatives and what in particular the guy who sponsored this bill arizona state republican representative jeff when and are who co-sponsored bill said the tax measure intends to turn the state into a center of blocked chain and digital currency technology in the future so that yes and no hole full. the price you pay for manning the barricades well this is obviously a great is and everyone who said was the use case of a coin like you care projections are that they're being proven wrong by state by state they will adopt these policies and all but pick up to the federal level especially as the price goes on or thousand for a federal level we could just forget about is the states that matter in the united states and so the united states isn't it so united united states yes you know it's just a certain united they're saying follow us punk you know that's what they said jeff sessions or whatever in a hollow follow what we're doing and he this guy by the way this representative from arizona says that this is just the first of several bills that he's

introducing or co-sponsoring in arizona to make it a block chain friendly. of course you know all those senators and congressmen or against gay marriage and they find him in some hotel room with a rent boy is jeff sessions but that extrapolation of well we discussing that in the second half don't go away much more coming your way. in america a college degree requires a great deal. decades was dead. studying so hard it requires. going through humiliation to enter society. sometimes quite literally.

wants other true colors of universities in the u.s. . join me every first week on the alex salmond show and i'll be speaking to guest of the world of politics sports business i'm showbusiness i'll see of them. alice stein is getting international recognition with the help of israel at least in the world of zoos and nimble fish was dismissive to do it long before you i can admit this isn't my cup of tea is going i know phil saviano maybe. yeah you know john without a doubt mobilization the only palestinians is gets the most help from his jerusalem counterparts i don't think there's some of those who in the world under the oak vision did not only could give this one. and no it is unfair advantage to have to display any of the muscle that you had i'm going to continue muslims you know do

more in the middle sauced don't piss off. me. welcome back to the kaiser report imax keyser time now to turn to mark hughes scotto he's the founder and chief investment officer at morgan to create capital management marc welcome to the show thanks for having me all right we're going to get to the big stuff in a minute absolutely put this in context so first of all how much do you guys manage over there roughly about a billion and a half ok so you've got to do asset allocation and look transitor trying to put money to work where it's going to get the biggest rate of return you've got something it was demographics and health care number two energy and natural

resources number three growth of emerging market consumers for wealth transfer to developing markets so this just touch on the demographics and health care market used to go what do you see there pretty simple the west is getting old and the east is very young we think that they'll be too big trends one in the west where you need a lot of biotechnology and a lot of medical devices we're spending more on looking better living longer and in the east where they have young populations they need health care services pharma so she's a great opportunity for health care broadly energy and natural resources mark look energy is is ubiquitous we all need it we all are running out of different forms you get the alternative energy process or processes come and there are very interesting solar now in florida the fact that solar prices are so you know dropping down like the same way we saw microchip prices drop down in the curve that based upon a curve down of the arrow and how is that really having

a big effect huge effect and you know it used to be grid parity was a pipe dream but now grid parity for solar power is real grid parity may solar is on a parity with the current energy grid getting close to go ok not as good as hydro or nuclear but it's getting right there with you know natural gas the bus to fuller said the earth gets a thousand times more energy than aids every day from the sun exactly so we're just capturing that. right now fantastic growth of emerging market consumers what i mean we are about to enter the largest consumptive boom in the history of mankind and i'm a hyperbolic person but that's not a hyperbolic statement there are three billion people that are about to age into the prime consumption years forty five to sixty five around the world they've seen our life and they want it so whether it's in asia whether it's in india china malaysia indonesia you most people have no idea that indonesia is two hundred forty million people a huge huge place and they're starting to consume just like we are china is about

to go from a manufacturing economy to a consumer economy and they've brought into the middle class a huge number of people and they're going to consume a lot of stuff india not this year the next year but over the next thirty or forty years is going to have the most well educated wealthiest workforce on the planet and high working age population growth which means high g.d.p. growth now this is happening at an era when technology has brought consumerism a different spin on the game with sites like amazon and elsewhere so when you think about consumerism and emerging markets like first thing maybe a procter and gamble right they shampoo and health care products and deodorants and stuff the p. and g. does and these people are getting the design or you know side of the law but does these technology platforms like amazon are going to grow their own amazon or is amazon just going to move into these places great question and it's really they're going to leapfrog just like they did in wireless and they skipped wireline with

straight to wireless so they take advantage of technology e-commerce in china is one of the biggest trends really going out there thinking ali baba you know not much ten years ago today one of most dominant players on the planet ten cent and we chat huge huge platforms for commerce think about this every day last year somebody boss stuff on a mobile phone and two hundred forty. million people in the united states bought something with their mobile phone seven hundred fifty million people in china did the same thing e-commerce over the next decade cordin mckinsey will grow twenty six percent compounded for ten years the mobile component of e-commerce grow fifty one plug in one point five one to the tenth power in your h.p. twelve c. you and i from that era yet sixty five not sixty five percent sixty five x. so the market for mobile e-commerce in china is going to be sixty five times larger a decade from now twenty well transferred to developing markets where the wealth

transferring from and to where creditors always when so think about when europe had all the money and we were an emerging market back in the eight hundred sixty one nine hundred twenty s. and then they got very indebted and we took all the wealth same things happen now we now are fat dumb and happy we've got too much debt whereas all owned by emerging markets so the wealth always flows to the creditors so there's a symbiotic relationship between china and the u.s. where china is reinvesting all the dollars they get and we're taking all the cheap goods. and they kept the dollar support as support of the dollar used to be that way right is that breaking apart oh yeah bad badly my wife kim is an english major so you know here's the thing if you think about our money and it is as if. michelle your wife's not here it's exactly right i was here as right but she's busy outside so i can just rip the great europe are all we want are just bad yeah not bad we're bad all right so if you think about a friend of mine had a has

a daughter and four years ago she came to daddy i thought you said santa claus brings the presents so when he does wife says why did they all say made in china four years ago up to today used to be about made in china and we were buying their cheap goods now as they become the largest consumer market the world is about made for china so all this rhetoric from the trunk ins about how we're going to start a trade war no chance the big. yes market in the world is china to send our goods to they now buy more oil from us than anybody else it's not changing in time and that's bad for the dollar the dollar is in a secular bear market and people don't want to acknowledge it they don't want to believe it but it just is look we're all reserve currency status you don't keep it forever you keep it usually sixty seventy years and then it goes to the next and it used to be all about powerful navy now it's about the power of information data and consumptive and the navy reserve cars and portugal before that and friend was on

their list exactly and sun now we're moving away from the u.s. as world so you look at it so the old on the dollar index i think the lower seventy currently around ninety yes they are going to break below seven they get if we do these ten surprises every year so my surprise last year is that would go down it but i thought it was ridiculous this year i said we're going from ninety to eighty and i think the next year after that would probably go eighty two seventy so seventy is a little aggressive right now but i think we're there long term and near bullish on gold kind of bullish on gold i mean i like gold the problem with gold is it can be and has been i think manipulated so that's a challenge there are too many short sellers in the world of gold but long term relatively bush thinking about gold it is a store of value has been for five thousand years i mean for four thousand of those five thousand years and spot a fine man suit so now it's got to because first of all you have a lovely time ras it's a gold equivalence it's all so you know this little scales got big coin on one side

and gold on the other and that was sent to you by the fine folks at vanek ben ecu and i guess they have an a.t.f. product they're working on their own working on they're working on you know they they're very bullish on because i know they are and so as you are and you run a billion plus dollar fund how aggressive can you get into big going how do you play a bit coin is really for because tell us yeah you know look we have played picks and shovels primarily so far we invest enough. of the venture funds that have been investing in things like coin base and corbett know things. group over there we're not with barry but we're with dan morehead upin terra we're looking at life and capital and stephen's brothers so like those guys i think barry's what he's doing is really great and we're looking forward to his next offering we've done a little bit in the actual cryptocurrency is the challenge for institutional investors most of our clients still institutions is custody and until somebody solves that custody you know it's funny they won't custody because because they can't take physical custody but what are they doing with patents and what are

stocks and bonds are not really physical bare bones anymore they're ones and zeroes so i'm not sure they're just not hiding behind they we don't understand it so we don't want to do it yet well a couple of swiss banks are now offering custodians services i need to talk to you again so i just read about this is pretty this is new right our friends over a gold mine where i said bag are cool now off. to study and services i'm going to be on a soon as we leave yeah i get a you know like a free hat or something because before that roy roy you promised me a t. shirt i got so far i got nothing i want some of them in a jewelry you know they owe us that would be nice only nice when i've been nice all right so let's talk about the regulars out there so see if you see the term in june carto he came out here practically game because a wet kiss you know says this is the currency of the millennial and we're going to be a little lapdog over here we love you kids we love krypto my kids play with crypt oh how sincere is that look at think it's sincere and i think it's real in the sense

that a couple things about the f.c.c. and see if you see in all these regulatory bodies there are enough people they can barely cover what they have to cover now the idea of trying to go out after the new hundred forty funds are now you know trading krypto and and all these new big exchanges that are popping up they don't have the money you mentioned just a moment ago a mark that the gold price was maybe. and it from performance to have it be lashon and then manipulation the same simply. blatantly in front of the face of regulators like silver was a bar children before this guy was bart chilton got was given air fuel evidence and a sam didn't seem to see what was right in front of his face so you know there's seems to be a conflict here am i wrong look incentives matter did i just lose half your clients are going to not i mean look i talk about this stuff too and and the reality is it centers matter and people do with their incentive to do and you know j.p. morgan had a lot of short gold and silver positions and they need someone to take their side

so boom we get an e.t.f. long goal but that is seemingly going to happen here in big coin and blocking related crypto related assets and it's a process we're still very young people want to know but which inning we're in when you started the game well i can pre-game warm ups all right and you see chairman clayton there taking a more group i think aggressive. as i.c.'s you know they should i've been in business for thirty years i start a wall street you know they all the i.c.a.o. survey look like offerings and offerings are regulated and so if there are going to see some action there anything i think we are i think we haven't they've gone after two that were really egregious. look if you look at any organized exchange over the years there's always been abuses at the lowest level right penny stocks were run by boiler rooms they called boiler rooms for a reason not because they were nice people so when i would write the tory body has

to look into something new they have a choice where they're going to go they're going to go after what seems like a legitimate transaction like that a big coin earthier him or they want to go down to this level of pump and dump ponzi schemes in and i see oh that doesn't mean all i see those are bad doesn't mean all tokenization is bad look i'm a huge believer that everything in the world this building we're sitting in somebody's going to tokenize fractional ownership twenty four seven global liquidity. that's far superior to locking up ten years in a partnership and have two two year extensions paid two and twenty so we got only just asked and then it can take us a further segment before we go though so you put out a four hundred thousand dollars price target on the bitcoin. to get there all about the thai gold equivocates right about that oh equivalent to l.m. but your entire oh no i think ours like the pony or something like just gold equivalence and it's pretty simple i never see how can you make such a simple argument because that's why i think we're going big going to me in its current form and current technology is

a store of value digital gold goals an eight point four trillion dollar market twenty one million are really twenty one million their family members you have right there got to go all right don't go away we'll pick up right there on that exact point thank you thank you and that's going to do it for this edition of the kaiser report was made max kaiser and stacy ever like to thank our guest mark he used go of oregon to create capital feel to reach us on twitter is kaiser report and select by. twenty four you know bloody revolution of you tube the demonstrations going from being relatively peaceful political protests to be increasingly violent revolution is always spontaneous or is it you know we're here to put it put me in your list put pretty with the blues that i knew pulling me to the former ukrainian president

recalls the events of twenty four. those who took. you've invested over five billion dollars to assist ukraine in these an article that will ensure a secure and prosperous and democratic. policies and there's a way to practice is the oppressive measures being deployed openness against. so now people everywhere the said letter colonialism the theft of our land and the many many. you know there's a stating things that they're going to dissolve the link of course the cold and the . uprising. just. certain i want to do things that show everybody is doing the interview very clear.

the way. to the. management. and they are they they are what they have and they have. you need to feel the. sun yes i'm them what do you how much. do you. want to talk more negative. when you don't. see the teachers who are. dead equipped to do. what they need not through only ten space it. may be. left alone they.

said. cement. no seven did that to. you speak french. yes. let's see let's send them full to noon posable and he's told good people. cliff and i. i i. i.

united states indicts thirteen russian nationals in connection with alleged meddling in the twenty six thousand election. suppose that actions were in vain as they had no impact on the outcome. there is no allegation in the indictment that the charge conduct. of the twenty six can. be done the scum of the f.b.i. is under heavy criticism even facing calls for the director's resignation after the bureau admitted if failed to react to tipoff prior to wednesday's deadly school shooting in florida. and did a case of mistaken identity israeli soldiers stormed the house of a palestinian school teacher who suffered severe scarring after being mauled by an army dog.

and it's just past midnight here in the russian capital. this is an international. thirteen russian nationals and three companies have been indicted by the u.s. justice department over alleged meddling in america's twenty sixteen presidential election the defendants are accused of waging information warfare. the indictment charges thirteen russian nationals and three russian companies for committing federal crimes while seeking to interfere in the united states political system including the twenty sixteen presidential election the financial legibly conducted what they called information warfare against the united states with the stated goal of spreading distrust towards the candidates and the political system in general

because meddling is no chargeable offense though i'd bet good money it soon will be the thirteen nationals and three entities have been indicted for first and foremost conspiracy to defraud the united states one of the main defendants is the st petersburg based internet research agency and their alleged goal was to sow discord in the u.s. political system namely the two thousand and sixteen presidential election funnily enough i catering company can also be found on the list of the accused apparently they were used at least partially to fund the whole scheme meanwhile the allegations have not been left on the answered with the russian foreign ministry spokesperson calling them absurd tens out there with thirteen of them according to the u.s. justice department fifteen people were mentioning in the u.s. election against the billion dollar budgets of the intelligence agencies against the intelligence counted teligent against the state of the art technologies upset yes but this is america's move to political reality by the way why thirty

apparently that's the only number with bad associations announce that only hope the parties in question are said to formulate the plans to bolster donald trump and disparage hillary clinton using methods ranging from organizing political rallies to posing as grassroots groups but some of the tactics listed are questionable and one instance russians are said to have fun of the construction of a cage aboard a flatbed truck and then to have paid someone to wear a costume portraying clinton in a prison uniform to sit in it defense also allegedly purchased advertisements on facebook to promote our rallies. i don't support hillary save american muslims not sure how that fits in with the pro trump anti hillary agenda and let's not forget efforts claim to have been made on social media where the russians are meant to have use fake identities to push divisive hashtags and topics according to the document the fake accounts became the means to reach quote significant numbers of americans however when platforms like facebook and twitter were grilled about what part their companies may have played in the alleged meddling they testified that

the influence was minimal. we determined that there are a number of accounts we could link to russia and that were tweeting election related content was comparatively small. aggregate of these ads and posts were a very small fraction of the overall content on facebook but any amount is too much . these videos mostly had low view counts. and it looks like at the end of the day all of those efforts were in vain at least

according to the u.s. deputy attorney general there is no allegation in the indictment that the charge conduct alter the outcome of the twenty sixteen election now this development came out of nowhere and something worth noting is that all of the accused are private individuals and companies the indictment is silent when it comes to trump kremlin collusion the goal of the whole investigation. the president reacted by tweeting that his campaign did nothing by doubling down on accusations that russia started its alleged anti us campaign in twenty fourteen he added that that was before he denounced his presidential bid in a separate statement he called for bipartisan unity claiming the discord serves the goals of bad actors like russia. nasa charles hotel and private investor and writer joins me on the line so first of all your reaction to those indictments. well you know after so many bonds of work and have so many millions of dollars

spent by the moeller team this is not seem to me to be much of a harvest. and you know i think it needs to be seen in context our f.b.i. as we saw sadly in florida is tasked with many pressing issues they seem to have slipped up in florida they slipped up on this or near brothers they slipped up on many other things and you know why are so much resource so many resources being spent to get such a low yield here especially considering that molar was head of the f.b.i. from september third fourth two thousand and one until september fourth two thousand and thirteen so it can he pursue any of these. inquiries free of conflicts of interest you know what what would he have been doing back in two thousand and eight nine ten in connection with other russia related inquiries that he may or may not want to see come to light so i think you know this is a very disappointing harvest there may be more to come i'm not in favor of foreigners meddling in elections whether here in the united states or americans

meddling in foreign elections i think there is a very dangerous approach to take and in some senses it's good that at least they're trying to do something about this but you know for all the it's this team all these millions of dollars they should have gotten a lot more than they seem to produce so for speaking about miller's investigation the white house spokesman hogan gidley said the democrats and the mainstream media have created more chaos than the russians did he's referring there to what he sees as being claims of false claims of collusion with the russians what do you make of his comments. i think he's absolutely right i mean people in journalism no disrespect intended are not generally very good with numbers and the one number that jumped out of the indictment was a budget of i think one point two five million and i'm not sure if that's per month or in total for this supposedly alleged conspiracy in contrast we know that twelve million dollars a minimum of twelve million dollars was spent after the hillary clinton campaign

got involved chasing and promoting this deal dollars here that's a lot of money to spend twelve million what were they spending it on were they paying off journalists that is real collusion and that although it's with us people involving some foreigners that is actionable against the u.s. people as well so where are we on that. look back to twenty sixteen broke obama said regarding the alleged meddling that it was not an elaborate espionage scheme the information coming through now kind of suggests the opposite fake identities and the law what are your thoughts on that well i think there is a cloud hanging over the entire eight years of the brock obama administration and dare i say you know if you go further back into it possibly also into the george w. bush administration maybe earlier over the degree to which the i.r.s. the f.b.i. part of justice may have been politicized and you know i think the comments

a proc obama made during the pendency of the investigation into hillary clinton's e-mail misuse were not helpful and i think you know push the hand down on the scales of justice what's going on in this country is there is i believe a counter revolution going on where the inspector general of the justice department is taking a hard look at all this i think we're about to get some explosive revelations of corruption amount fees and particularly in the two thousand and fourteen to sixteen period under barack obama fasten your seat belt more will come ok let's have a listen to what former vice president joe biden said because he's spoken out about the indictment his words. and quite frankly the journalists are relevant to me who they were trying to influence vote for or against they have no damn right. no right whatsoever. is that anything new that coming from from joe biden

well again you know i'm sorry that joe biden lost his son early but when we look back into the history of joe biden american involvement in ukraine interfering in elections in ukraine i think it's a very dangerous path for this you know longtime political hack joe biden to get way back into the debate without considering the degree to which the united states may have done even worse things meddling in the ukraine and elsewhere under the barack obama years when he was vice president so i think it was another unwise statement on the many that come out of joe biden's mouth charles appreciate your time and your thoughts charles hotel my guess private investor and right. now the indictments come as the f.b.i. is under heavy criticism over wednesday's deadly school shooting in florida that's after the bureau admitted it failed to react to pry tip offs on the dangers posed by the alleged gun.