in the global economy we entered a period of very interesting experiment of free i currencies anchoring three hour currencies anchoring free of currencies anchoring. it's turtles all the way down we entered into the modern financial era reference value at all no gold nothing just a country's flailing about and tearing into spurious wars. economic theoretical policies based on nothing and a lot of money printing the rise of the central banks the whole the central bank the ben bernanke is the janet yellen of the world and we worship as priests in front of the disease will of money printing now that. is coming to a close the era of the us dollar as the reserve currency is coming to a close with the rise of because an encrypted a currencies is it an asset class or darn right it's an ass i class how do we know that because as people abandon the fee out currency nightmare that was given us and

nothing but misery for fifty years they're plowing into fee at currencies is a go at one hundred thousand you're darn right it's going hundred thousand because there is trillions of dollars sloshing around in a cesspool called the global financial markets there's absolutely no rhyme or reason to valuation on any of these assets whatsoever and i saw a headline coming up here today which immediately got my attention so the exchange crack and right crack crack and jesse power jesse powell at the crack in exchange they have told me to new york to pound sand basically you know they're trying to dig into all the market making that goes on in these exchanges and they wonder how price discovery works on these very sick strangers and so all these exchanges are saying look we're opposed regulatory framework work kospi our currency framework we're entering a new year we don't mean. the s.e.c.

that see if they see any of these regulators guys were taking this thing to another level is based on a whole different valuation model and just to give you some context of you know my history in all this and how i got into it was back in one nine hundred ninety five one nine hundred ninety six i started a company in los angeles called the hollywood stock exchange and we were trading virtual assets with a virtual currency on a virtual exchange and to build that technology which was pretty new at the time i had to invent a technology so i invented a technology called a virtual specialist technology is that has a u.s. patent i think it's five nine five zero one seven six is the patent number and so we were having to do prices covering virtual assets this benchley was sold to cantor fitzgerald in two thousand and one and they moved the entire thing to their office in new york the top floor of the world trade center. a few months before nine eleven so there was. an inability for them to really capitalize on that

going forward they wanted to introduce box office futures contracts and i told them at the time that this would never happen and you would never launch box office futures contracts because the m.p.a. the motion picture association of america is a very guarded in the united states without any competition and they don't like the idea of price discovery on box office they like to control that market with an iron fist the six studios in los angeles and sure enough they didn't listen they know they spent twenty million dollars trying to develop a box office futures contract and at the last minute for the diagram bill or the ground on or the ground they had produced a rider into that law saying our long box office features contracts so hollywood is the only industry in america that has this kind of protection from financialization you can treat a box office futures contract which you can trade futures contracts on almost every other. industry in america because they don't want

a competition they don't want the price discovery they don't want to interrupt the flow of their model to market their way into a box office event and. i find this a bit disturbing because it says that free market economics and crisis coverage is selective in america we like it in certain markets but not other markets and being in the news business and i as i am we're constantly has are the regulators who are trying to tell us which news is approved by the regulators so this idea of free market capitalism being selectively applied to some industry and not others is that also applied to the news business so some outlets their news is considered to be more truthful than other news and they don't allow the public to decide what they want to say and for the public to make up their own mind about what is

informative and what is relevant to their lives another word for this to be propaganda so we live not only to price propaganda and if currency propaganda but we live in the news propaganda the major outlets in america are in the most insidious vicious propaganda and war mongering and we've seen in decades the idea of free markets which i'm totally in favor of right it goes back to the enlightenment it goes back to adam smith it goes back to the transition of power from the fricken catholic church to the enlightenment to the individual sovereignty of the rights of man to be preserved and markets are a way to get there free trade is a way to get there anything that interrupt free trade interrupts freedom and anything in or of freedom is a reversion back to neo feudalism and we see that happening right now the united states and presumably here in canada as well is concentrated in a few or fewer hands we're having a river at the risk of neo feudalism on the horizon crypt out is is the answer in

my view and it is an asset class and it is gobbling up market share and the u.s. dollar is doomed all free up money is doomed and any money they keep in fear of money only keep money and only have money keep money in fee at that you're willing to lose. anything this one tripped out is going to vanish. the biggest bubble in the world is the us dollar the stock markets in about the bond markets at a three hundred year bubble we haven't seen bond prices sovereign bond markets aside three hundred years in britain and in over two hundred forty years in america think about that it's a multi hundred year bubble when those bubbles burst and they well because interest rates can't remain near zero for a perpetuity keep insolvent banks looking like they're solvent every single bank and bust your bank is leverage that five thousand to one that there's nothing

collateralized and towards your bank with some answers in the end and in a vault somewhere munich is absolutely nothing it's a mirage. those banks all right what else we got here oh yes lisette nested that's the genesis block i see some applause already this is beginning i see it through all started notice that the headline is times in london chancellor on the brink of a second bailout of banks is that random did they just put that in there is a timestamp or is a toshiba making a comment well it could be both but i heard it as a comment the banking system is in jeopardy and it's a reaction if you will is a very political element to big coin that is not talked about that often and i think that probably to put in context of where we are historically should be

mentioned already so there's a jamie diamond a suicide banker and people say why do you call a jamie diamond you know a terrorist a suicide banker when you think about it banks on wall street they are cut from the same cloth as the hotties. they misinterpret their basic texts right so in the case of analysis fanatical was the hottest seok theocratic li driven psychopaths a kind of misinterpret the qur'an here jamie dime until they misinterpret saddam's with me he selectively reads books on economics to support his maniacal psychosis they go to. terrorists i go to my dresses. jamie dimon and his crew who go to the ivy league schools which of them addresses of our hero who teach them economic models that are dangerous and fanatical he's going to kill himself and others for is beliefs. he has no compunction about putting isn't our society or from self at

risk by pushing weapons of mass financial destruction as warren buffett calls them derivatives so in a blow himself up killing something anyone around him so he's is a terrorist with my suit. initially he was very anti big going. then he came around a little bit and now is still a bit more probate going as the markets moving against him and he says he has no morals or ethics or any kind of soul he's just going to go with the market he's just like a dead fish will go with the current right he's not going to swim against the current because he's inside he's dead he's a parasite he's a tape worm on society. but i was also very might might say me die when the tape worm impression because it's too vulgar but does it give you night blown then you know it's pretty sick. you know we've been doing our show. thirteen hundred episodes and this is kind of the reaction we get people are

understanding that the enemy are banks hers and it's not the concocted skirmishes you know the world with the war the scapegoating that goes on all right now you know when when the replay the reagan democrats were in charge that you member the muslims were the the enemy and now that the republicans are charge the the the russians are the enemy. so it's all. the enemy of the bank's toure's that's our common enemy so we got to get above the the parochial regional nonsense and scapegoating and bigotry. three hundred eighty billion dollars in drug money for mexican of course they were bought by walls fargo wells fargo big position by warren buffett wells fargo caught recently going into millions of customer counts and stealing money they get a slap on the rest of the price of fraud and terrorism in america is roughly you get penalized ten cents on every dollar you steal that's the conflict. that's the

business model. and mind. you want to three hundred eighty billion dollars how does that compare to road which was used as an excuse that he had lines like this all the time that. big clean easy money laundering or buying drugs or things like that . it was with the silk road these are now serving life in jail anybody from marco in prison most far away from each s.b.c. h.s.b.c. built this was in that readily they never went to court i was going to say the court case but there was never a court case so this was in their discovery what happened with h.s.b.c. is that they actually physically designed like the equivalent of a. trace to our ledger they created a physical box uniquely for the mexican drug cartels to deliver money to each s.b.c. branches in mexico city and here they don't go to prison they they never were charged

with anything they are given these bonuses and the bonuses are driven by stock options that go up in value based on the stock price based on stock repurchases and buybacks funded by zero percent interest rates from the central banks so the central bank is or is it is a this is an accomplice so again because it is fighting this fight that's what bitcoin is putting these guys hopefully six feet under big coin is the revolution but coins is the means by which there will be a lot of as we saw in the one nine hundred thirty s. bankers jumping out of windows that perhaps that's part of the goal. that was really problematic oh i enjoyed it immensely well don't go away stay tuned for much more after the break stay there.

in july twenty seventh i am. a freelance journalist working with a. militant shelling in syria. his sacrifice quality has established a holiday. they will recognize war reporters who often risk for the sake of the truth and through the fees you can submit to your published works in a video form britain form. now. the new economic war is unfolding in the realm of education the right to education being supplanted by the right to. education its higher education is becoming just another product that can be bought and sold but it's not just about education anymore it's also about running

a business and what you're good. to me. is the place of students in this business model for college now and. higher education for the global economic war. and welcome back to the cause report i'm asked has a special guests. sunny welcome to the kaiser report days ahead of me it's great to have you been following your career really for a long time and you're one of the earliest guys in typical and of course in india it's a great place for bit going to flourish because it is

a next generation of financial technology in a country that's looking for next generation financial technologies and of course it took off like gangbusters it's hugely successful and then i was just reading that the indian government they're not being friendly right what's going on with the r.b.i. the reserve bank of india has recently announced that it's i mean in short they don't want banks in payment companies to be working with companies like google and was it a surprise or was it a surprising that read the big white paper like six years ago so not a complete surprise but yeah i mean a little bit i mean a surprise so here's how much contact you have with the government now at this time with unocal oil which is one of the largest crypto exchanges in india how much interface you have with the government i mean quite a bit quite a bit we know almost every regulator there's like maybe seven or different departments that are looking very closely at because we have relationships and many

of them. but you know all of the different government bodies don't always work together they're like you know a multi headed monster where one head you know kind of does things without knowing what the other one does to some extent and so yeah so this was a little bit out of left field with the r.b.s. announcement but like you said you know in december you know it's not just you know we started the show in india but there's like twenty twenty five exchanges all by really really smart people backed by smart investors but the r.b.i. decided that you know they didn't. now one thing important know is they did not banned it coined even as politicians on you tube say hey if you want to buy a big one with cash want to trade between yourselves go ahead we just don't want the banking system interacting with it is this a period of may be a bit of a transition from a bit coin naive it's a to a bit coy real politic what i mean by that is that when we all started in the business when it got started there was this feeling that it would solve problems

and it was a fantastic paradigm shifting technology that would banksy and banks particularly in countries where in india for example were you know this would be such a. step up for the huge portion of the population that didn't have access to bank accounts and so in is it in the case of now a slightly different mental attitude toward bitcoin if my question makes sense in other words. the promise of bitcoin is so fantastic and his being and my view i'll say this in my opinion is being stifled by a bureaucratic machine that maybe is not really going to take on all the warm and fuzzy aspects of this technology and why it's so great we think about that what i just said. first they ignore you in the laugh it's you in the fight you knew when

they were at that in the for you was the famous indian who said that gandhi. and i think yeah i think we're kind of at that stage i mean look at the last three months since december i mean price to be quite obvious took a big hit be had like some of the biggest companies in the world like google facebook twitter saying that they're going to ban and you had banks you know coming down on the queen globally and so i think it's in a way it's hard but i think at the same time it's kind of good why because you talk to a baby and being who point up until they do and even now we only deal with people who have bank account. because we're forced to but if we now cannot work with people in banks we're only going to be working in the ending sector so in a weird way you can accelerate our progress towards towards or our goal. so you have it i said you know in big point nothing ever surprises you like the guy i had a desk job for ten years i could go back to that but i chose this because it's difficult it's hard and and there were enough people you know working on these big

challenges until you're ready to work around anything any obstacle that comes down or in your crypto to cash we're doing we're looking at could do a quick door we're looking at you know why labeling we're looking at you know moving order book side of india and maybe they could list twenty different things that we could do we're not going to die we're a cockroach right now similarly in china you know they've they're then going down the path aggressively of decentralized exchanges because the governments like trying to attack the exchanges the exchanges you know as i've said from the beginning i've always been the point of failure because it's the interface with fia and if there's going to be a clampdown that's really going to go that's really going to attack moving along to now some comments made in new york about going after exchanges and just looking at their price discovery mechanism how they how they maintain their order books they want a crack in other exchanges to start answering to regulators crack and the. response has been basically we don't care what you we don't reckon answer your letter we're

not going to answer your inquiry we're glad we're part of new york and you know we can exist without this regulatory framework and they've taken a very. bad approach of like the damage torpedos. going straight ahead you know very grasses. are you guys part of that movement is that is this a global movement it can't really be derailed at this point and it. but i what will happen is entrepreneurs like myself in capital and we have one hundred fifty employees and millions of users we're going to have to poke. her attention towards the central eyes exchanges and guess what that's not is a bad thing because when i think back to five six years ago when i first got to be queen all we obsessed about was building and decentralize exchange but i think it was early voting now that takes come along lee and i think it's going to be easy but we are seriously considering that as well ok going to is breaking news right here considering that model. right now it's in the warehouse it's on the shelf you

can pull it off put the engineers to work on it and keep keep keep the lights on and keep rolling better and leave it all right fantastic so tell us talk about the conference if you will block chain economic event b. and how many years has it been running but i've been doing events for six seven years and starting in india and that's how i met my co-founders that they can be and started a new point and so both a year and a half ago or two years ago i started living in canada because this is where i'm from and i noticed a disconnect i noticed that there was a lot of between events but it was like in coffee shops and bars and basements and i wanted to do an event once every three or four months where people would look forward to it and they would kind of remember back in really hearing room x. said and and so that was the initial goal that kind of the bigger goal was we wanted to be the catalyst for ten unicorns at a trial and like i just said on stage you know there is they miss notion that we try and make money on these events and the truth is first and you need money and i'm telling you that because they do nothing wrong with making money but i do

literally do these events because i love trauma and love block chain and i want the smartest people in the world like yourself like adam back like chris i said it i want people like you to come here and you know and share the gospel of it interesting the way these events are kind of taken on different character so in the miami event the past year was very lambo oriented a lot of us and just the busty women you know you know it's very like playboy mansion meets toshi ok then this event. it is more as you say got some original gangster types adam back this year you know he's one of the solid guys here is the reference of the white paper you know you've got other really hope ross profile folks and i met here two fifteen year old kids that came to the event they're in to block chain they're figuring out of ply blah change the genomes an artificial intelligence and this is the this is me hope sunny is that this next generation

coming up is completely empowered by block change and they are ready to take this to the next level are you seeing that as well so for this event tickets are four hundred dollars a head if you're a student you get a free ticket i can see that on camera but that was our kind of secret deal was that we just wanted young people in here yet because they're the future and yes i do is a little emotional but definitely that's a big part of it right so the event itself it kind of operates as a think tank and gathering place and try to help the ecosystem in whatever way you can whereas you to coin it you know that's your more of your do your day job and you're you know pounding that forward and bringing it through the startup cycle and and how how is the startup vironment now is that if the market is that we have a huge i.c.l. market and twenty seventeen regulators came in they really put on a huge amount of. surveillance but. looking at

all the stuff we're in that cycle to our last one december i did another event where we had admin morey the thirty trek through the u.s. mint is also a big point of vangelis. and so i think that we trying to get. that he said and anyway so he came and he you know he shared some of them in say with us and he did say that look the hammer is going to come down i suppose and look i'm a big fan of the free market so from that perspective i love you know everything but personally as someone who spent time in the financial services sector i worry a little bit of what i see. and what's happening now and and you know it could be argued that a lot of the clamp down now is happening not just because of a quick is because we are over seventy years but it's because of this i see a phenomenon again i caution people against i do these events as they try and find some of the better projects and put them on stage people can tear gate them and ask them questions but i think that it's not it's not secret i'm personally not super bullish on an icy o's but i do believe there will be a few that will succeed and change the game the word around the street as always

been that you know you can buy become an exchange with you very quickly put off exchange and dip into cold storage into a paper wallet into a hard wall because these exchanges they tend to be vulnerable going back to the mt gox disaster which everyone still remembers because it was a huge event so at unocal where is the industry on the security front so that people have more confidence that when they go exchanges that they're going to be getting the security that they need so just honest i know we partnered with block chain dot info dot com and we have a partnership through our a.p.i. a customer in india can buy and sell big queen straight from watching meaning they're holding their own private keys and they just make the purchase and use a big wins out of the ticket on the account especially like the one who are going to jack we're partnering with my sealion and so yeah we see that is like the next evolution right where people hold their own private keys but we act as just the

mediator for liquidity right well that makes a lot of sense doesn't it now how is the volume and trending in a single i mean volume is ridiculous right up until december we were on boarding ten thousand users a day a day we literally couldn't keep up with it. but obviously when it was like in the last few months the market's c.e.o. definitely calmed down a bit personally i kind of like it when things are not like through the roof and everybody in your neighbors talking about they quite like you and everyone's like no this is never going to work and it's failed as and i get most excited what's the next event we can look forward to. three or four months when you know one entrepreneur do something called block chain expo. later this year much bigger more grander and yeah that sounds exciting yet i do have to go back on stage now and it is an x. i love you guys i am very direct yeah it's ironic and that's going to the station of the cars are parked me back skies are safe i just like our guest sunny ray of you know going to catch it on twitter it's kaiser report until next time by all.

the. little celebs to be sick to my side with the truth mostly funny but i did just that. when i left that i sat next to. a lot of those. a little. peeved. slow. and. three of those clothes. will keep. the family have

a difficult time. in these years on leave and their own zero. zero zero shame. going to a gun it will be an admission from the. global war on selling you on the idea that dropping bombs brings police to the chicken hawks forcing you to buy. the battle of the. new stops by to tell you that because of the public by itself most important. off the bat doesn't tell you on the cool enough to buy their product. the oval office that we. will watch. in the

heart of the swiss alps this is a place probably more secretive than the pentagon more mysterious than the cia and better guarded than for knox was customs placed on the site is controlled by them and they imposed the opening times. opposite it is from his office the procedures in place of the strictest in all europe must to pieces by artists like pecans oh and modigliani i can't boards and sold inside this warehouse that's where the report comes in it covers up deals which are naturally discreet commercially discreet felt but also discreet thinkers they concern fraud from some of those paintings a link to dark secrets nobody knows how many of these secrets a kept inside the geneva freeport says from the position that you'll never obtain an inventory of all the works in the freeport who knows how many there are three hundred three thousand three hundred thousand is it

a matter of confidentiality only is it the world's black box of the art business. r.t. correspondent is caught up in tear gas during may day riots in paris at least so so far it's water cannon after mass protesters of tools cards. and i'm here to tell you one thing. israel's prime minister tries to convince the world that iran cannot be trusted just days before donald trump intends to scrap the historic nuclear deal. and trump says negotiations with north korea on denuclearization will go ahead well his security adviser believes what happened in libya should serve as a model.