the north of the island so all of the cables and you know how the u.s. doesn't like much of europe which is the cables are underground here they're over ground so all of the cables were knocked down in the hurricane maria and because it's also a jungle it's going over the hills all those cables are going over through jungles vines although you know you think of a jungle it's all sort of a canopy of green it's all growing over all of the cables that a fall and so they have to extricate those cut their way through those to in order to get the cable to put them back up. just money. alone will remember that of course the west side story. stevenson wrote the book letter bernstein directed the music brilliant show a lot of people total knowledge about puerto rico was based on the stage for version of west side story and the subsequent movie going so there's more going on

here than for a good west side story there's just miss utah best perceived oh my goodness you have to learn how to speak spanish ok by the way we passed the area of old san juan that is really quite beautiful i forget the name of it right over where pearl of love her yes so seventy percent of all energy production on this island happens in the south seventy percent of the demand is here and holds on one area or other areas of the north so you have an a very very old electric grid the new governor is now trying to privatizing or or parts of it many people on the island are worried that there's no incentive for a privatized company to put all of the money that is needed to develop it and i want to say in the last minute here that we also have seen the emergence of a lot of micro entrepreneurs who are coming up with a little sigh like micro solar panels on your rooftop in order to power your own little electric items needed in your house because many people are still without

power and there there is a new movement to use the national utility grid now as a backup and for the future because there will be bigger and bigger hurricanes and this was the biggest hurricane to hit since one thousand nine hundred twenty s. early one nine hundred thirty s. that that you should take care of yourself essentially they should have your own energy sovereignty we need some micro grids we need a mesh sort of network so that you are never reliant on a centralized grid again it's a quick question that will go to break the energy needs that you're talking about there the way that they're geographically spread out it sounds like a her kilian task to bridge that gap there's tremendous entrepreneurial energy now on the island in new movie. you stacey is the the wave of outsiders coming in to the island now are they maybe thinking a little bit with rose colored glasses in terms of what's possible given the immense infrastructure needs on the island or what you think well there are some

outsiders coming in and yes they have fantasies and many of them have a lot of money but there are indigenous local people born here east here who are also there and the article points out they are the ones that humanely walk down the road went to these locations went to homes and introduced the solar panels so that so these are puerto ricans local puerto ricans there entrepreneurs as well and they're introducing options it's up to whether or not. you know that that the fiscal control board will allow these sort of things to happen right now by the way the oversight board has actually taken the energy grid off the creditor list they're not allowed to seize it they're not allowed to take these assets at them at the moment all right well something will get very close attention to that's going to be time for a little bit of a break so don't go away stay right there. well

you know the part that we kind of adopted because we were called partners long. been there in the small bold states you know hard to achieve anything cheery. little soul to be talking peace already ninety percent of the guard on any phone because. fifteen school. class clowns. do it several times a day secretly no you get an idea. that . to understand we can all stay still and just. be witness of the deal going through our. i'm doing this because i want the future world to the future generations to have out and enjoy the ocean we have.

kristen trumps money in finding practices are still surprising the recent appointments of mike pump a zero and john bolton have deft an impression on friends and foes alike was impeccable a heard of on american politics and. how does it feel to be a share of the greatest job in the world it's as close to being a king as any job there is one business model helps to run a prison now we just do or don't like us here nobody oh visitation they don't no one comes anymore we don't have to serve them anymore it's cost effective that's what they want to do that long they don't give

a damn if you do the chores or not there are actually paying us to put it back into the louisiana incarceration rate is twice as high as the u.s.n. breach what she could is behind such success. the war hostility you on the idea that dropping bombs brings can use the chicken hawks forcing you to fight the battles but still. the new socks for the tell you that separate gossip the public by itself support. off the bad guys and tell you on the cool enough and let's buy their products. all the hawks that we along with all the walking.

welcome back to the kaiser report imax keyser time now to turn to entrepreneur michael turpin michael welcome to the kaiser report glad to be here it's great to have you on we actually we've known each other for more than twenty years right and you've been in the hot spots in technology one finds michael turpin and that goes back to the dot com era and now we're in the crypto era and you've really carved an interesting space and place yourself here in quite a rico you were i guess kind of the first guy to come down here and stake your claim and you could say and so tell us a little bit before we get into the crypt space what drew you to puerto rico and why what's happening with that michael so i've always been someone who looks at fairness and about you know how to you know do something that will will will help

myself my family and so i move from california to nevada right before i sold mark where my last company because it was crazy to be spending forty percent more taxes if i was living there for a global company rather than the data and when i started getting very deeply involved in the currency starting transform groups the top p.r. firm in that area and advisory all the sudden i'm working with companies and i give some as get paid in coin or in some of the other tokens like we launched the theory i'm and i'm seeing at the end of two thousand and fifteen of them starting to trade the price is just skyrocketing and so obvious that i'm not worried now about the vet a tax i'm worried about long term and short term particularly short term capital gains just thirty nine percent and puerto rico i heard from a friend of mine who is the investment banker who is selling i.p.o.'s in china and he's barely in the u.s. i'm still paying fifty three percent taxes because he had a home in california and so i look to puerto rico i told my wife. if about it she

had only seen west side story and not the true and she said i guess i can maybe do a little time in tax prison and they can peel it away from her she that's right and you know a lot of hedge funds guys have moved down here before you and you have john paul saying it. let me just introduce this idea because the way you describe it it sounds very dry that you know there's a tax benefit to moving down here and that's part of the entrepreneurial mix is you've got to look at your entire picture and maximize wherever you can but there's a cute ancillary impact for the crypto community coming to puerto rico it's twofold right there is one is the local community is now getting to five and you can talk about that a little bit and then you're bringing in a lot of expertise and a lot of young talent a lot of fresh talent and that's adding to the mix so can you talk a little bit about the the vision thing it's become a positive petri dish so when i first came down here in early twenty sixty and

people were barely understanding how this could become a technology found much less the first time i spoke at a conference here which is the port of the puerto rico investment summit i asked people in the government about how you treat watching the ants was what is a block when i held my first point and john the caribbean conference last year the same person i asked what is a block chain actually spoke and talked about the benefits of block chain which they do treat here as being services rather than software and they're both foreperson will get into that a little bit tax and nothing to the iraq's if you provide the product down here but with the watch chain it's open source so you don't own the ip and that's one of the definitions of software were says software is a service in michael sense a crypto space got going different countries and territories that advertise themselves are trying to position themselves as the quote switzerland of crypto and they want to be the greatest regulation they want to have the greatest and by. are

mannix that are a and i'm you know here for the first time myself and i've been the isle of man i've been to switzerland i've been to various european countries i've been to these places that say hey we want to be the crypt of switzerland you know this place really could be the crypt of switzerland it's got everything across the board what are your thoughts on that i'm a big proponent of that and i'm very encouraged with what wyoming did wyoming just had a unanimous legislature approval and the government signed an act to say that utility tokens which is most of what this i.c.a.o. phenomena comprises is a new asset class that is exempt from securities and money transmission and the courts will decide whether wyoming legislation trumps regulation but they're pretty adam of the day and they want to go into other territories and i've got nothing but you know open arms from the people i've talked to in puerto rico as will help the island we bring jobs here very open attitude about how can we go in first and

foremost how do we keep our kids from like graduating and having to go to the mainline because they can't find a job here that's going to pay good wages generations coming up actually says that they could be part of building this new generation and it could be. as you say a petri dish and a really growth story now you mentioned ice yos and regulators for a second you know it's interesting is that this if d.c. thinks calls crypto commodity the f.c.c. thinks it's a security. fence and i think it's saying it's money right so every regulator thinks they see themselves and right and that they need to be a part of the regulatory mix how do you see that unfolding because it's having a real impact that's undeniable yes so a house and in fact the i.c.a.o. market and how will it impact more broadly its impact in the i.c.a.o. market particularly the last couple weeks in sort of a feeding frenzy of fear. because basically a lot of the lawyers have been saying do this do this another good. maybe you can't

do this and that and at the moment i'm hearing people advise just do a public offering which means you become a penny stock and that doesn't seem like the innovation or they just say block all americans i don't think that's going to be something that lasts forever i think i'm very encouraged by what wyoming is doing and if a judge just backs them like you know the f.c.c. been saying all this stuff looks like c curious to us a judge actually said the cryptocurrency is a commodity it's not the same well mean it's a security am a commodity and you know another judge in florida and the point is not money so the courts are going to have to decide in the meantime people are afraid and so they're either blocking us or they're coming up with you know hacks of the rules talking to tell you about you know how a lot of times you have to go and find a positive activity hacking is a good thing in many cases and i think one of the hacks is you simply go when you invest in a funder of a cent because that's offshore and that's how as an american citizen you still get

to you know take your rights as a credit investor to be able to go invest in what you've researched game theory for a second marriage for your a seasoned entrepreneur this game of cat and mouse with regulators is part and parcel with the entrepreneurial world steve jobs got to start with the phone phreak they're breaking the law you know most entrepreneurs are scanning the ends of the law that's how they kind of introduce a category and they hope that the their product will redefine the category and that the law will be changed you know they see this on wall street all the time so in the area of tripped out i can understand the regulators are you know they have they have a vested interest don't think they represent a long standing financial services business and they really are in their service you could argue but will a territory or a country break ranks and say you know what we are going to be that crypto location and we're going to attract those jobs and are you playing a little game like that michael you know you're kind of the deal. most of the dean

in this in this space too far off what do you think i've been called the i c o godfather one network but now you're not far off and i sort of learned a lesson way early in my career in the ninety's when one of the things that i did as a side project before the free market where was i co-founded something called direct i.p.o. and it was myself a stock broker and we decided to like start going and disrupting wall street by letting people do direct public offerings of internet companies and we started the same day as with capital and with capital and the client was a securities lawyer we employed securities lawyers our entire funding went to a big law firm who told us no no no it's too risky he did the exact same things yes he see call them in and they gave me exemptions he sold the company for several hundred million dollars we basically went on to do something else after we spent all the money side aside i was not going to make that mistake in this field so i talked to a lot of lawyers and i look at

a lot of different jurisdictions but when i started been angels in two thousand and thirteen one of our charters was find friendly jurisdictions malta is a great jurisdiction aristos is amount of second places that ever was going to move to but in asia when korea and china clamp down we're just guess where really is singapore and here people are going to bahamas they're going to be v.i.i. they're going to cayman but they would much rather come to puerto rico and pay four percent just like they go to switzerland instead of you know as zero tax jurisdiction that maybe is not the place they want to live or operator or such clarity like they pay six percent in switzerland and i think that they will pay four percent and you could get a billion dollars of i.c.'s coming into puerto rico if there's a little bit more clarity and they kind of follow the wyoming lead all right let's dig into some technicalities here and i want to spend a long time on this but i think it is interesting to act twenty x. twenty two these are some of the minutia you encounter when you make decide to make

a move like this can you kind of in. cap's lane in a minute the difference between the two just i just find this interesting michael just kind of brush on the tour so i'm not a lawyer to count and i used to about him and desmond is a video there's a lot of great folks down here who know their stuff so act twenty two is the one that is for individuals for investors every year they made a little bit tougher. and that's been sort of as the numbers have grown that's sort of the way of making the bar and for a little bit higher in the beginning i believe it was fifty dollars to apply and five hundred dollars to get it once and they saw that investors were also bringing their secretaries their mistresses and that's not who they wanted to get the grants so the year that i got in it was seven hundred fifty to apply and then five thousand dollar one time now it's also a five thousand dollars have to be the charity which we give way more than that to charity in puerto rico every year anyway and perhaps the talk is maybe it's going

to be an annual contribution but you want to have people involved in the island you want to have people you can't live here without wanting to help the people i mean jump in first thing because i was hired to vent here a lot twenty three and it's a crypto incubator made up that people were talking about the x. x. twenty this that i talk to a lawyer i talk to account i get totally different answers from different people in their information and it's tough to come by like a real definitive answer what is what can people do you say in an account not a lawyer but is there there must be a resource to guide folks on solid footing as they as they contemplate that kind of a move down here right you know you have to talk to people and get referrals and quite engender we do have a panel on at twenty and twenty two got actually. who was the secretary who wrote the law who passed the law and i've got. that i've got the had a video and so folks like that are going to be able to answer the questions there was just something this morning here but really come on down to. if you like the

island right are you going to go and i seriously thirty seconds what is it so quite enjoying this our fifth year it's the it's the goldman sachs conference for corrupt all because goldman sachs won't do its springing investors around the world to look at opportunities in the space and to talk about the legal and the regulatory and the trends and this is our second year doing in puerto rico right michael sarver thanks ray and kaiser report thank you all right well that's going to do it for this edition of the kaiser report with me max keiser thinks they are like they are just michael turf and if you don't catch us on twitter it's kaiser report that on bio.

they're bracing for a single purpose. a super. training very young. eight months of intensive school. rats. and they save lives. fundamentally the united states and russia are have been for decades to scorpions in a bottle each capable of destroying the other but only at the price of being destroyed

itself. putin said well these weapons will overcome u.s. missile defenses u.s. missile defenses were totally ineffective against russian forces already so they'll be more effective against russian forces. the most expensive fish in the world each one is selling for tens of thousands of euros it continues to grow its entire life if it was thirty years old you might have a two ton fish out there and yet they don't get that big today because we're way too good catching. it's only women and set off a much larger mission was once there and that was much more widely distributed we have politicians that are in office for a few years they have to get reelected everything is very very short term our system is not suited and is not cleared for long term survival and that's why we have the catastrophes you know you have.

to make other shouldn't believe you believe because you. didn't think it was you who was. the russian ambassador to the u.k. rights to the policemen exposed to a nerve agent in the script poisoning incidentally commending the officers bravery in calling for cooperation with britain. u.k.

investigators raid the offices. political consulting firm cambridge analytic over a major data breach involving millions of facebook accounts. and a police officer dies of his injuries following friday's terrorist attack in the south of france he's being hailed as a national hero. to . broadcast live direct from our studios in moscow this is archie international thomas certainly glad to have you with us now the russian ambassador to the u.k. has written to the policeman who was exposed to a nerve agent in the city of solsbury following the poisoning of a former spy and his daughter. has more. the letter to detective sergeant nick bailey thanking him for his actions following the poisoning it extended moscow's

best wishes and voiced hope the officer will make a full recovery and be able to return to a normal life as soon as possible it went on to express sincere gratitude for his bravery and an assurance that russia had nothing to do with this reckless incident the investigation is ongoing and the o.p.c. w. the organization for the prohibition of chemical weapons continues to investigate we've also heard from the head of the secret ministry of defense lab important down you know we've got the highest levels of controls of security. around the work that we do here we would not be a loto or pre if we had lack of control that could result in anything leaving the four walls of our facility here the russian embassy has reacted to his comments saying that they amount to admission that the secret facility is a place where new components of military grade poisons are being researched and developed and that most notably mr ater the head did not deny the existence of

chemical weapons stocks referring to the disputed possible sources of the nerve agent in question moscow has openly condemned the attempted murders as an act of terrorism and denied any involvement despite that though it seems the relations between the two countries are continuing to deteriorate and the situation doesn't look likely to get better anytime soon british pm to raise in may has rallied her european counterparts calling for a united front against russia strike russia poses respects no borders this is a fascist standing together to hold off against the russian strains we want to cool did meet our reactions which we will now to detail once the coordination is ready but we both germany and france agree that those reactions will be necessary in addition to the recalling of the ambassador. it's an act of aggression against the security in the sovereignty of an allied country which is still a member of the european union at present a man calls for a reaction the russian ambassador to the has now been summoned and told

a decision will apparently be made on monday with regards to what actions will be taken against moscow if any we have different positions different. interests. about different traditions. political landscape in europe to russia and this is why it's not so easy to keep. the group. together from moscow standpoint several attempts have been made to work together with the british authorities firstly following the incident that russia says it's tried a number of times to ask for a joint investigation secondly moscow says that it's requested a sample of the nerve agent again so that it can assist the u.k.'s investigation and russia has now also set up its own inquiry but how this will pan out is still

unclear is no investigation can be completed without crucial information from u.k. authorities so what next for those of us watching this saga unfold all we do know is that this investigation into the perpetrators and source of the nerve agent is going to take some time and in the meantime we can only watch to see who makes the next move. british investigators have raided the london offices of the political consulting firm cambridge analytic over a massive data mining scandal the company is known for having worked with donald trump's election team in two thousand and sixteen the firm is under investigation for allegedly using the data of fifty million facebook accounts for political purposes u.s. lawmakers are now calling for facebook founder mark zuckerberg to testify before congress in germany the social network's representatives have also been summoned for questioning a member of germany's ruling party commented on the case. for

a long time we've had the impression. nothing happens within facebook and obviously they try to run the business with a minimum of resources and any issues raised over social responsibility i'm not welcomed with a lot of enthusiasm at least that's the impression i get. is already hurting facebook billionaire tech entrepreneur the leader of his personal page and those for his space x. and tesla ventures wiki leaks editor julian assange also lashed out at the social network others are rushing to do the same as well with the hash tag delete facebook trending in the latest edition of artes online series in case you missed it. gives her own very satirical take on the cambridge analytics scandal. in case you missed it on the sacrificial altar this week is cambridge on the list of casts. carry on alicia scavenged information from millions of space but profiles

and told the highest bases that they could use it to target votes is the don't go on behind don't know chump bragg's it was a lot of playing ice up they've been paying more attention to your facebook profile than the sweaty shakey guy in the office he's content enough of your photos from our florida getaway back in two thousand and fourteen of course back it turned twelve the use of data to win elections was innovative in twenty eighteen it's evil has something changed cambridge analytic is based in britain a country where interfering in elections is a gentlemanly perceive if there is little enterprises based in st petersburg the western world would be sanctioning russian oxygen by now. only route you know who that was russian. beauty you voted based on a crashing economy immigration inequality or corrupt politicians nono nono facebook made you do it these sinister motives of targeting voters are unique in

the history of politics that is a blow for all political t.v. and election post i'm politicians who coddle babies and newspapers and human sprit . news just in we're getting reports of an election that has actually been won because voters listened to the issues and made an informed decision take it away we're not reading break news goddammit so what can you do while the founder of north south has gone on twitter to tell us too much time to delete facebook but there are still the social networks to tell us what to do. moving on to syria now where rebels and their families are being evacuated from the war torn district of eastern guta russia's defenseman.