live. how do their america has or this is a cause report now or in canada. hockey. you know it's all friendly

here we love it. max we were last time we were here and we were courted here we made a big show about the fact that we had stayed at the trump protel well some things have changed quite rapidly since we were here last and that is toronto hotel dumps trunks names so that hotel is no longer called the trump patel it's called something else. hotel the rocket rashard hotel. and a liar making up those we're only a famous soccer players from any of the ken dryden otoh he deserves all its own merits rons or maybe only when they're good but i couldn't tell you that there are or how about the dawn cherry hotel don cherry and i so reckon we can and i want to get him on our show mr saturday night hockey the best broadcaster in the history of hockey the guy who i go to for inspiration when it comes to picking out my suits

and my ties don cherry is really the fashion plate under-rated on the global fashion scene well we were also talking about the fact that the toronto house prices kept rising they were rising kind of faster than the parabolic move that big did in november and december and they continued to rise since we were here two years ago and when we were driving in from the airport you could see just like the explosion of new buildings everywhere in moore huge high towers and the crazy thing about the house prices here compared to say driving into san francisco or new york city is or more importantly flying in is like there's hundreds of fat. thousands of square miles empty around it like there's plenty of room for it to grow so why it's like there's no constraint on how big you can get like there is and there's plenty of space to build plenty more buildings so the fact that prices were rising unlike say hong kong or manhattan which are jam packed onto

a little island and that's all you get in that island those countries completely empty there's just a bunch of trees frozen so moiety there's nobody loser and maybe how many people live account of living sixty million total i don't know. there are thirty five million people that's half the population of the united kingdom live in this vast wilderness up in the next to alaska there's nothing to do except snog and play hockey well here's the headline canada home prices fall six percent and first quarter from year ago first declined since two thousand and nine new regulations also known as b. twenty require all borrowers to pass a stress test at an interest rate two percent higher than the qualifying rate early symptoms appear rather obvious national home sales slid for the month of march following twenty three percent year over year and pushing the average sales price down ten percent overall it is

a bearish quarter for canadian housing first quarter sales fell sixteen percent year over year so there are new regulations brought in that basically you have to earn say in vancouver they give an example of by the median price there you would need to earn one hundred seventy five thousand canadian dollars per year to meet the new standards that they canadian regulators have imposed on the mortgage market where the average income there is sixty five thousand and perhaps all the explain this in a way that the average canadian could understand ok let's say wayne gretzky was determined to be making too many goals in the n.h.l. so they decided to make his hockey stick heavier than anyone else's hockey stick to try to stop him from scoring so many goals but of course wayne gretzky. being the talented guy that is only use it to his advantage of them scoring more goals of never. do understand the canadian person they are saying that the market forces cannot be reined in by the simple machinations of corrupt bankers and central bankers and politicians who don't know jack. about the economy they only know about

how to give themselves pay raises to create bureaucracy and create more government markets rule markets are saying oh and their own new flexion point now it's your doom three to two this is sort of game of the stanley cup and in walks turks interested. i know the hockey fans out there will know what you're talking about there i know what you gretzky name of course he was the greatest player of all in the turk as he was the boston bruins play during their stanley cup reign of championship along with the greatest hockey player ever to live greater than wayne gretzky i'm talking course number for bobby or the don't back me up on the ok well so you know mortgage debts piles of mortgages on households government debt corporate debt continues to rise we talked about christine lagarde and the previous episode well the i.m.f. you know they came out with their world economic outlook we did refer to that

recently but here's some of the data about how much debt there is now in the world since we were last here i am a sounds the alarm on global debt warns the united states stands out when looking at the big picture needless to say it's all about the u.s. china and japan these three countries alone accounted for half of the one hundred sixty four trillion dollars in global debt and private sector debt and speaking again to china its debt surge from one point seven trillion dollars in two thousand and one to twenty five point five trillion and twenty sixteen and was described by the i.m.f. as the driving force behind the increase in global debt accounting for three quarters of the rise and private sector debt in the past decade think of those numbers and remember that we're just talking about the housing bubble in toronto vancouver. los angeles new york a lot of it was driven by chinese money but you're going into this against some mad debt accumulators one point seven trillion in two thousand and one to fifteen years

later twenty five point five trillion so you're competing against that debt pile and this is what's causing all these housing bubbles as well so the way that these countries are fighting global inequality is to give themselves financial bola and allowing debt to consume them so their bodies are eaten away by the disease that is over indebtedness and then when they're completely gone and they are dead themselves out of existence the remaining countries will be like we bought gold china and russia are buying gold as i find gold remind all this like a three little piggies to tell you number one lives in a few currency elster houses blown away by the huffing and puffing of the big bad wolf and then picking a number to go to countries like india that are like wants to. sector household sector has all the gold there the government doesn't exactly and then the big fear will have to post in the people the private sector survive but the government was blown away then you've got the countries like china and russia that were houses

twenty four karat gold. and the big fear was often puffed and it didn't blow their else away they also include a chart in the zero hedge coverage of that i.m.f. story and the world economic outlook of the united states stands out you can't really read this chart too well but you can see that the stand out there that's the united states there were only one amongst advanced economies only united states expects an increase in the debt to g.d.p. ratio over the next five years so these are all of the european countries you know they love us they're ready and they've been imposing austerity upon themselves and while fuming at more and more the sort of end times of the hairshirt. spanking. on the back. fluctuation. you say spanking yourself i think referring to the leader hos wearing german. grabbed each other in an auto spanking wheels of spanking going down a prominent banking child on the bottom. german drinking song leader hose and

let's move on to the next one because i talked about at the top we said that chung tower is no longer here and what is this trunk. trunk premium that's why his name is on hotels across the world he at least apparently that was the sign of some used to be a sign of some sort of luxury change of name from a trip to the harvey weinstein in right next to the kevin spacey restaurant for some reason business is just not picking up well trump's name is also in new york city manhattan went eighty six point six percent for hillary clinton so just over ten percent of the manhattan population even voted for trump and there is some proof lately that even renting in anything named trump is the rent prices are declining but now there is. basically trump tower prices are also collapsing we

have this headline a new report claims donald trump's new york city properties have lost their luxury status the trump palace at two hundred sixty ninth street fair the worst with the lowest comparable prices when stacked up against the manhattan condo average coming in with eight percent dip over the last decade so these are the prices for the palace two hundred sixty ninth street so the blue line is trump palace compared to other luxury condos so people no longer consider it luxury it's probably. when people realize i guess they didn't know how he spoke i don't know kill two birds with one stone broom tro property the white house the white house is a great brand trump is in the white house if you. to stay in the white house like the lincoln bedroom or something like that you can stay at what was formally a throne protel rebranding the white house they've got the white house logo on the towels you get the white house soap you've got all the whole of the white house but

in various properties around the world and use part of the money to pay down america's debt so you killing two birds with one stone you're rehabilitating the trowbridge and you're paying down america's debt well so basically what you're saying is now the u.s. stands out as debt to g.d.p. ratio increasing you're saying we already have the emergence of a royal sort of family we have the clintons we have the bushes we have these royal sort of families member hillary clinton was the wife of a former president barbara bush just died she was the wife of a president and the mother of a president so we already have these world families and why do that you know whenever you're in london like we were for too many years what they always say is oh we love our royal family they bring in so much money because the people tourists come to look at them so you're saying like why don't we start to make money off them like all these tacky hotels we could put those thousands and thousands of gifts that the president receives they're not allowed to personally keep it it's a product you know basically the taxpayer owns it but where is it like with.

basement somewhere at the white house why do you just put them in all these luxury condo. you know little in the hotels replicas you can buy in the lobby and you know they have the fire recently in trump tower you could recreate the fire in properties all around the world properties and cold like a re not going to the american revolution so over going to burn down the room parts are going to cause an insurrection let's set it on fire it could all be preprogramed it just be like a disney event disneyland where the fire of burst out on flight of four thirty nine and you because just part of your package of staying out the white house but in order for the american people to buy into this and they want the debt to be paid down and their taxes not to rise is you could put it over head as you and. each building in the lobby you can have that american debt clock and then he also has a have a donation box like in the churches where i'd like to help fix up this building help pay down our national debt and have all those like junk presents were given to the president but absolutely or when you walk through the portals of the hotel it

puts you further into debt anyway we're going to take a break we'll react right after this don't go with me.

chrome's foreign policy could be described as double speak the president doesn't have a defined policy approach and even goals are difficult to discern is this what the art of the deal means is trumps foreign policy making america great again the world safer.

welcome back to the kaiser part imax keyser our time to speak with heart sonny. i owe you our cash welcome thank you so much for having us honestly a huge fat zero zero zero s. rat's ass ticking away our seeing is at conferences around the world because you've got something that is a high demand hoshko dot tell us about it as a whole show itself means security in japanese and we were looking for a short word that nailed exactly where our focus was which is cybersecurity within the block chain space and we felt like we hadn't seen anyone in the industry be laser focused on just block chain security especially one that's not doing their own i.c.a.o. of course people on their block say in their bitcoin one of the first things they hear about is that it's so secure it's also about that i mean what are people missing or what the add to the to the equation so code that's written on

a block is referred to as business logic and business logic is very far from being secure and traditionally in the technology era whenever sophisticated code is written you always get a third party to audit it and the exact same methodology is now being implemented in the block chain space that if you're writing code you need to have at least one professional third party who are technical audit of the code and then make sure that there's no hidden functionalities that you're not clogging up the block chain by potentially using too much gas and that the actual written words of the source of truth are actually married to the business logic is the code doing what the words say they're supposed to do a lot of money has been pouring into crypto and block chain and when this money comes in ideally they do an audit of the technology is there enough technology auditing going on with all this money my question is is there more money out there now chasing projects that there are. is this an adequate amount of auditing yet

there's not enough sophisticated auditing firms out there to handle all of the work in the space and we're seeing the asian crypto markets boil and become extremely exciting and they're seeing millions of dollars fund raised in a much faster speed of time in asia but none of them are valuing security the lowest numbers of security audits being done are by far in asia and for an investor to cut a check into a project and not make sure that this mark on tracks been audited at least once and to review the actual audit report i think it's bizarre and there is not enough firms willing to even audit non if you're in based projects so the theory i'm has been the main protocol in which most i.c.'s have been launched on they're launching what's called the twenty token on top of the protocol and that's been the majority of i.c.a.o. is to date now we're starting to see people start to develop smart contracts on the newer protocols that are coming we see some interest in stellar neo and soon maybe

e.o.s. but the current firms like consensus that have been doing smart contract auditing seem to be much more laser focused on just a theory and you know people when they hear the word auditing they think about auditing firms like price waterhouse cooper and these big auditing firms so is whole show dot i know are you the kind of a p w c block chain is that how you position yourself correct yeah we're looking to evolve and to becoming the do a lawyer or mckinsey or see if you will of this space right and how long is a company been around in a little less than a year ok so this is a start up start first year start up and what's the headcount we're at twenty four full time in las vegas and about eleven contractors we are hiring rapidly about thirty more people on boarding looking open up our first office outside of the u.s. hopefully looking to as you do. global business realize time zones now matter

a lot and so when i've been in europe i've been realizing well europe is pretty interesting to do business in both asia and north america and so we're exploring where to go we're growing steadily month over month definitely a start up pace murdering the white combinator time paul graham used to say that during y. combinator a startup grows an average seven percent week over week we can right around there actually as a tech start up growing at a rapid pace week over week ever since we started how many startups i've been involved with technically three i founded one before this was a this is called zaldy dot com we did mobile point of sale and integrating to legacy pos systems and implementing and of c. payments and chip credit card payments and before that we were building a white labeled android app store for picks so let's talk about smart contracts just to kind of a real back for a second cars people talk about smart contracts you build them on a watch and excited about now is there a way to actually author this mark on track the way we operate a smart contract is you need to engineer who has

a unique background the background has to be a security background a q.a. mind full stock engineer that's keeping up with solidity and solidity is the language of the theory and the protocol is built on it's a new language that very few engineers in the world are very well versed in it is updating as a language on a weekly basis and so when we're doing a smart contract audit you need this engineer with a unique background to marry the code to the words to do a gas analysis to do a static analysis and to do a dynamic analysis part says you know you're talking about more money in this space than there is operating more money entering this space than there is engineering talent correct at what point does the industry start to level off in terms of the various under long underlying dynamic components if you will start to come into more of a balance if it will that ever happen i guess as a precedent. back to the dot com era or some other high growth tech eras but if

that question kind of makes sense doesn't make sense what's your thought on that i think that a lot of dust has to settle in this industry in order for more sophisticated capital to come play active ball in the space and the biggest issue is a lack of security and a lack of education when it comes to hiring new engineers and what's needed most in this industry isn't it is more academies to train high level engineering talent ourselves at hoshi we're building an in-house academy because the only way we're going to stack up our engineering team is by finding full stack engineers that we can train to become qualified auditors. if you're a qualified engineer today chances are you're building your own solution or you're being paid a ridiculous amount per month to work for some i.c.a.o. . and that's just the reality of it when you're offered eight hundred a therion for the month of the i.c.a.o. you're going to jump ship from whatever you are and go ongoing joke in the industry

as if you're really qualified engineer in this space you might be too rich to get out of bed. yeah exactly i mean that's a real problem there at the top talent is is become fabulously wealthy and they're not really motivated to get their hands dirty correct yet so you've got to grow talent from the grassroots and this is a brand new industry where even if you're hiring someone on the block chain side of things maybe they were an early employee at linked in and they've built out a big team of thirty people for but they haven't spent the time to read the bitcoin block chain white paper haven't heard the toshiba's white paper where it all started and i feel like most of the times people who are very experienced in business don't understand block chain one on one and that's also a big problem with hiring this is a true for anyone in this industry i'm sure they're all facing it that you found someone who can be a v.p. of marketing you know sales force or she know sales force and par dot. but they know nothing about block chain one hundred one and how to operate in the space

what's the what's trust decentralisation really mean people bring their assumptions and their experience and they hear a few things and then they just kind of poured over what they know and they think they know stuff so what is like with the one thing that a newcomer even experienced as a technologist is missing about the block chain is if you will that the core belief system was that one. special sauce if you will that they're missing i don't think it's special sauce i think it's reading the bitcoin. read it understand it and if you don't start watching some videos from andries antonopoulos really an example is as these i think they're a little more of the seeing i phone example is material easier to digest he invented the word smart contract the fairies and it's remarkable that people don't even know that now looking out to twenty eighteen twenty nineteen what are the thoughts of bitcoins emerging second layer like lightning networks. in the house

like oh well i mean we've been waiting for her a really long time for elizabeth and the lightning network team to give us a viable solution but we've all been very excited about side chains being the answer and cite chains being the answer to us being able to go up against visa and master card in the space because it's not going to happen on the the corbett kind of lock chain right so it's got to go off change yes it's a handle that volume and it gets back to you know the debate of twenty seventeen was really this debate about store of value versus means of exchange and the means of exchange was opened up km competing block chains and talking about house to toasties vision is all about digital cash and that the store value argument is not really just be placed in the center of the discussion about it looks as though that store value argument kind of won out to some degree in twenty seventeen and. now or in twenty eighteen and it seems like the argument of the day is going to be proof

of work vs proof of steak ok so explain the difference and then your view on the proof of work is not sacrificing security. as much as proof of steak is that proof of steak is a great step towards leveraging less electricity and it's way more earth friendly but is it the right step for security. i would personally say in my personal opinion no first book proof of steak takes a step in the wrong direction for security at least right now it's sacrificing security in order to save electricity which brings us right back to proof of work. the dust hasn't settled so therefore economic comes all way back to back when again because it's the longest. they got the longest track record it's got. on on interrupted up down up time right and so do you see anything we're maximalist to

say that that's the reality is all we really have to right so as a security professionals that's kind of your opinion to the industry folks are asking about that that that's where you were excited for proof of steak but they need to value security and we need to as a community hash through how security will be sacrificed so on the environmental issue. seems like a nonstarter in many ways because first of all i mean just off the top of my head i'm thinking like renewable energy and power watch i am in saudi arabia going to be one hundred percent renewables they've got a ray of solar panels that are the biggest in the world iceland is all geothermal energy the technology for photoelectric cells is going a some particular down to zero cost so heading into a renewables anyway and so why is this even an issue security is usually just someone. i don't think the issue is finding

a way to have renewable energy be produced whether it's nuclear whether it's solar i thing that's not the issue the issue is just being able to hash through how can security be even the utmost priority in order that so security is not sacrificed in an effort to make things proof of state versus proof of course but i get that but it just seems that the common theme you hear from no cooling or as our call to say paul krugman from the new york times hill hit on this it eased up a lot of energy issues and it just seems like a it's a nonstarter and doesn't matter right now it's ok if you still owe actress that you're right at this point there's a lot of things that use a lower tricity and honestly we don't even know if like the u.s. dollar she has sole goal these are right though she is dubbed i o. is the name of the company this is a sunny c.e.o. and founder i'm co-founder and president my co-founders yo kwan and his previous company was coin setter they found an exchange at a new york they sold coins that

a crack in and after that he launched launched where they got rid of passwords using multifactor authentication they sold launched a dietician labs and then you and i partnered up to start osho and to be laser focused on walks and security perfect may have gotten so much max already but she had it all right well that's going to do it for this edition of the kaiser report with may max kaiser and station however i thank our guests sunny a whole show i owe generated on twitter this kaiser report has an excellent bio. seem wrong. but. just don't hold. me. to shape out these days comes to cancer. and it again equals betrayal. when something find themselves worlds apart we choose to look for common ground.

los angeles the city of luxury and free but also an alarming number of people living in the streets. a simple fact in l.a. use there's just not enough shelter even if people on the streets right now decided to come in there's nowhere to come in it's been a struggle. to get this man from his own response to the problem and construct dozens of tiny homes for people in need of shelter when you have nothing in order to go. you know having something like this may as well be a castle to the earth or to use accept such solution tiny house on a city parking space is not a solution you craft someone want to touring the site otherwise it will be

a free for all and is there a better alternative to end the homelessness crisis. no collusion says the u.s. house intelligence committee is it delivers its final report into alleged russian meddling in the twenty sixteen presidential election. three protesters are reported dead in always nine hundred injured during clashes in gaza on friday in the latest great march of return as palestinians protest against israeli occupation . and as revealed the key witness in the russian doping scandal going to get erupting cough and fail to confirm a number of his allegations during testimony at the court of arbitration for sport . but for more on those stories go to r.t. dot com my colleague laurie sushi a joint u. next hour for a complete look at today's headlines but up.