as a financial survival stacey. let's say i'm not sure i get. the fight well street strong thank you for. telling the story that's right if you looked at slavery. looking good the latest. one could fit in. with.

the e.u. slums the u.s. decision to pull out of the iran nuclear deal. ukraine cracks down on the russian journalists raging at news bureau in kiev under arresting the director . is right. and it keeps going. and took as president i do and condemns israel's use of lethal force against palestinian protest made mounting anger across the muslim world. over the latest on these stories head to call coming up because a report looks that european alternatives to the american money transfer system known as swift he said than done and if you're watching us in the u.k. next it's been bust.

nice guys are ok you know what a rube goldberg machine is right just like a mouse with like fifteen different ways to get the ball through the hoop down the slide over to the roundabout and then joel. donald trump yes stacey that was a rube goldberg opening nobody knows quite what she said but i'm going to start with the donald trump tweet and nobody ever knows quite what he's saying either and that is president xi of china and i are working together to give massive chinese phone companies e.t.e. a way to get back into business fast too many jobs in china last commerce department has been instructed to get it done this is a story highlighting the capricious nature of a u.s. dollar empire remember we've had this exorbitant privilege for the last forty years

since one nine hundred seventy one since we went off the gold standard we've had this exorbitant privilege as charles the goals of government pointed out that we were able to basically print money and get free goods from the rest of the world and this worked out quite well for a very long time and led to globalization and a rise in global living standards and now it feels like once we erected one trade barrier one basically barrier by a swift to this financial this dollar financial system a few years ago against iran and at that time our guest jim rickards said be careful what you do because if you use this weapon too often things could fall apart but this story about c.t.e. what happened to z t e m a massive chinese telecoms company that got destroyed overnight by the u.s. and now is trying they're trying to resurrect it is an interesting one right well you know china is taking our jobs so here you. is very near to having just been

elected and he's making sure the china gets our jobs he's exporting our jobs back to china it took a back but now he's putting him back he thinks so it is like a rube goldberg machine in that sense and it also reminds me what happens when you have a global economy that is completely tied together just in time delivery like a gordian knot of trade if you try to move one little part with a sanction or a tweak here it affects the entire ecosystem of all global trade but it's not like we're living in the eighteenth century or something where you put something on a ship and takes a few weeks to get to the other side and all were going to some of the trade in gold now it's all instant sanely says especially the blocks incoming into the mix is instant taney asli settled upon the execution of the trade it's instant settlement no banks even so trump is like wallowing in there like a drunken boris yeltsin liked trying to figure out like. dogs i knew she was. right and he's like completely bamboozled himself he's fooling

himself and it also reminds me in the u.k. when they have a transportation system set up in different divisions so them that one company is doing that railway and other companies doing the stops along the railway and they're competing with each other in the u.k. privatizing these components of their transportation system so then they compete with each other and it doesn't work you can't get from point a to point b. because there's two separate companies or five separate companies competing with each other to stop you from getting to your destination so you end up with a are really a system is broken well here trumps applying the same for cock to logic to global trade and looking like an idiot of course here is a us dollar based trade system that has benefited us immensely yes we have lost a lot of jobs but we've got receive a lot of goods for free here i'm going to show you the consequences of imposing sanctions like they did on c t first i'll tell you about. chinese tech giant on brink of. apps in the u.s. cold war this is from the new york times want to china's most internationally

successful tech suppliers with about seventeen billion dollars in annual revenues each facing a death sentence the commerce department has blocked access to american made components until twenty twenty five saying the company failed to punish employees who violated trade controls against iran and north korea so they had already paid a billion dollar fine then they said they can't trade use any u.s. parts but many of their components for their various products that they make are actually from the united states so basically they had to shut down fire seventy five thousand people around the world and seventeen billion dollars from the global trade system evaporated but the point is that because of this as the new york times points out as the trumpeting ministration threatens a trade war to stymie china's plans for promoting events industries the firms to vale's are proving an apt demonstration for china's leaders of exactly why the country needs to be more self-sufficient and technology chris lane a telecom analyst in hong kong with sanford c. bernstein believes that china now has the resolve to whip semiconductor business

into world leading shape even if it takes a decade to do so quote they're going to pour billions of dollars into preventing this from ever happening again he said in the long run strategically this might be worse for the us than the current situation so he's going to force china into the arms of iran forcing germany into the arms of russia so he's creating a multi-polar world which means a multi currency world which means block change because world the biggest loser is the us dollar in america yet in this case of course the us corporations have benefited from the semiconductor business that needs microchips from here so it's helped us manufacturers u.s. companies u.s. employees now he's forcing. out a business or is trying to bring them back into business but he was forced out of business because you you couldn't. u.s. parts but remember there are many many other nations the world and they all look at

this and say well is there going to going to be a point where we're going to suddenly be cut off should we build our own manufacturing system to rely on any u.s. components when it's it's quite possible that trump or whoever come becomes president next could do the same thing right now that is that's inflationary because up until now in fact this huge deflationary wave of globalization and the us dollar is a single source of borrowing which is then tied to the yen and you can get money for negative renters trades but if everyone splits off of their own separate five times they're going to rebuild and replicate everyone's manufacturing capacity in five or six different countries that's written inflationary that means that the u.s. dollar bond market the u.s. treasury market now at three percent the highest it's been in years it's going to five or six percent i mean every mortgage in america is going to go out of business do you bank a new report it's going out of business it's insolvent that'll set off another two thousand and eight firestorm of global banking collapses it's happening now where's

that money going to go big point about that iran sanctions story this is another story that happened capriciously likely that it was so like the the kings of england before the magna carta like it was very whimsical and like i'm going to be head that enemy of mine i'm going to behead my cousin because he insulted me and you know thanksgiving dinner. now that they thanks i'm not going to thanksgiving dinner at your house so you're worst of having like a burnt turkey breast but here it be had it but here is another article about the consequences of using that sort of power of pulling the trigger on the power that you have to cut people off from the u.s. dollar system time to break free from america this is from a blog called irrationality and you know air bus has ten percent of their components are made in the u.s. so just ten percent of their components but because of that because after all those years. negotiations in their rainy and deal and he decided to add

a whim via tweet to just knock off that system and europe has billions of dollars of new trade with iran airbus has a billions of dollars deal so suddenly airbus can't do this and look at the consequences these are things said by french and german ministers french foreign minister johnny. complained that quote we feel that the extraterritoriality of their american sanction measures are unacceptable the europeans should not have to pay for the withdrawal from an agreement by the united states which they have themselves contributed meanwhile french finance minister bruno demurrer asked yesterday do we want to be the assholes who obey decisions taken by the united states while clinging to the hem of their trousers or do want to say we have our own economic interests and remarkably the article goes on to point out that because of these iranian sanctions they're actually discussing in very high levels in europe among the ministerial class of devising an alternative to the swift system

again this is really important to the demise if the fewer dollars you have circulating the fewer the less power you have to mess up the system and destroy your enemies by cutting them off from the just which system is censorship enabling if the us doesn't like instilling astonish they can cut off from all credit if us doesn't like what's happening around they can cut him off from swift right that's such a ship enabling that goes against everything that you would normally believe is the story with free trade so america is on a free trade country it's not a capitalist country sonic believing in competition it's a monopolist country that believes in monopolization and then like to use the dollar as their bludgeon to beat people into submission and if you try to get out of the dollar whether it's syria iraq libya or iran but just actually said they're getting out the dollar to go to euro boom boom boom boom boom boom boom boom boom boom boom why dollars collateralized violent by. ultraviolence i believe it was

under obama actually that they first cut off somebody from the swift system and again it was it was jim rickards who has done extensive writing and research about the dollar in gold and s.t.r. and he said that was. we could rule that day that we did that because yeah we we were like yeah we won that battle but we could leave iraq in records should not go back to well as they point out european politicians are now considering what measures they can take to protect themselves from american efforts to force them to comply with american sanctions policy according to the e.u. is considering various avenues one of these he says involves looking at europe's financial independence what can we do to give europe more financial tools allowing it to be independent from the united states connected with this is a proposal to set up a purely european finance house to oversee euro denominated transactions with iran and again that guy is the french finance minister and you know denominator transactions of the rent call up tony to libya bit pay and you can do bitcoin

transactions with iran between germany and europe all day long for zero percent transaction fees and no restrictions whatsoever get with the twenty first century germany don't let america take france but never get rid of all the troops by the way in germany that's a huge drain on your economy you don't leave us troops. were ever so i mean interestingly this system that we have now this with us dollar based system was basically set up because of the french finance minister under de gaulle called the fact that america had this gold standard and yet the dollar standard as well on top of it that they had an exorbitant privilege and they called back the three hundred million dollars worth of gold and that set off in motion the ending of the bretton woods agreement so here they are calling again they're pointing out like hey this is where it's subject to these crazy there's a call moment as another to go moment but quickly in the last headline here this is from reuters and they're talking about again these iran sanctions and the consequences and that is iran oil sanctions. could it vance china's pet show you

and this is from reuters not from os china's position to be a chief beneficiary of the u.s. decision to withdraw from the iran nuclear deal as it would give china leverage to demand oil imports be priced a new and several currency experts said on thursday so just just invading iraq and spending lord knows how many trillions of dollars killing lord knows how many hundreds of thousands because we're not allowed to audit how much we spend we're not allowed to audit how many we killed but the fact is it benefited iran here again we're going to benefit china is like a blundering empire not that it's unique to the us every empire does the same thing they all become hubris to can think they can now bully everybody rome did it spain did it britain did it everybody thinks they could do this and this is never different it's always the same yes always history repeats or rhymes whatever well they had a lot more crazy stuff going on in the second half so don't go away stay right there.

if. you're not serious is not only enough a part not be a part of the i'm not a broker they have taken the seats of many i'll get addicted to the solution they throw in this region to what is known as miss extremists in this region have been strengthened and the bravado of them addition by the semi to come is a decisions and actions more than any time before moderates and god of war people like me have been destroyed but with such actions such fascism such apartheid being excited by israel and israel getting away with it i think this is opening the gates of hell and this region. of the war zone you on the idea that dropping bombs brings to the chickenhawk forcing you to fight the battles that. you saw for the tell you that the guy. the public by a little more news today. often after telling you on the cool enough analysts to

buy their product pledge to. leave all the hawks that we along with all the the walking. welcome back to the kind of report i'm nice guys are time now to turn to gabriel abed he's the co-founder and c.e.o. of bit barbados based crypto fin tech company making waves in the camera been gambia welcome thank you for having me on the show it's great to have you on the show because we get to travel around the world and find out what's happening in crypt and different places in barbados has suddenly become a hot spot encrypt tell us why. is seeing

a lot of uplift from foreign companies coming in and setting up on our shores for talks optimization purposes beautiful beaches stable relatively stable economy but it's actually it's actually bermuda right now that's starting to start to become the mover and shaker in the pan caribbean as a matter of fact to be quite honest this entire caribbean star in the bubble you start to see st lucia. many islands are starting to to rise up towards. having appreciation towards technology because of the value incentives that it offers there are other territories competing to be a go to destination for the crypt i went astray obviously and point rick out there make a big play for this and in singapore there's a lot of activity and hotspots in europe so in the caribbean now you mentioned that there are tax advantages as there would be in ireland for example ireland attracts a lot of companies for the tax advantage and the beautiful beaches and i understand that even though the government in these areas are becoming quite correct yes so

just to correct something we said i'm i'm definitely the founder one of the founders i'm no longer c.e.o. i would be focusing now on more working with various central banks around the world so that while you were in the camel because you're now the armed wing. community taking on the banks and hand to hand combat well actually this is a gift from a friend and i were all white so it wasn't good for the cameras so oh i think that is a cover story i don't really believe it i know that there are some shenanigans going on but tell us more content you don't mean to interrupt well you know the shenanigans a lot of follies been happening in the caribbean region. i mean this is the reason why we bet was to start allowing the regions have more of a unified currency bassist i'm our financial sector right now we're talking about a nation that's plagued with. multiple currencies. high remittance costs

high sediment times high on back to population the under banks and in the region is actually quite upsetting all right you recently presented a speech to the bermuda monetary authorities on central bank digital dollars tell us about that typically when you introduce central bank digital currencies to central bankers it goes quite over their head initially so they part of the process that is to educate central banks on the importance of this technology and what it can do for them from a perception of the center ridge the cash optimization from cash creation the point of where central banks yes in the inflationary world print money. printing money has both of a cost on a resource base cost an economic cost of course it also misses out some of the key points that we want to citizens which is accountability and transparency and so you

start to educate these guys that the chain and because it isn't a scary monster it's something that you can wrap your head around as a matter of central banks can embrace it to build a parallel to that world so that you can actually start transitioning into the modern age of technology how is a dialogue going to open that's an excellent bit of homes been successful with a few central banks in the region. most specifically the eastern caribbean central and why that's important is because eastern said caribbean central bank is a currency union of it islands so that one central bank being a pilot and testone for a central bank there's no currency allows for islands to settle in between themselves another thing that you may not know right into island settlement that's made facilitated by block chain facilities they've not had before i guess with that kind of efficiency so you're an archipelago i believe is the phrase that would work in this case a group of islands yes and so. you need to have the block chain kind of

clearing trades in these different territory and previously they would have gone through other jurisdictions to do these clearing the trade right so that's a huge benefit so they see cost advantages most nation's most advanced time advantages economic uplift g.d.p. growth and bank citizens can now become banks because penetration rates of smartphones are over one hundred percent in some of the islands so now stable coin . is what you're talking about right so the stable point is a subset of the whole trip to space yes and it's the idea that you know if that tether teller is a dollar surrogate if you will that's crypto and that that's kind of a stable coin yes so tell us about that a little bit explore that well this provides facilitation to avoid volatility for those that wish to have the advantages of sending and receiving digital dollar with what could be perceived as a disadvantage in the. in the crypto space of the volatility so what is stable can

accomplish is guilty to transact digital fia right reyna new stable going to be stable going well bit itself as a company but they produce stable coins for governments they provide governments to tools to produce their own stable point in barbados as an example the barbadian digital dollar is nothing more than the barbadoes dollar bought one to one by the barbells dollar which is the. blotchy and you know unlike ripple i would guess there's a big three mine there is zero pre mine is not possible the premium happens essential . i mean that's its other central bank it's kind of like able to perform as a central bank but in the script i specced i benefit of the entire archipelago and you guys that bit are facilitating that world sponsored serves the the old world the central banks as a let's them have a bridge into crypto and it serves the crypto world because it allows them to have the bridge into the traditional network because you can't take cash i convert cash physical dollars easy to pick one or other forms of my fanatical programmable

currency but in the world of central bank there's zero dollars there's a bridge and a communicational paf that can be built right fair enough now you facilitate a relationship with the nance the one year old crypto currency exchange already raking in billions why bermuda offered regulatory clarity for and i don't want to speak on behalf of binah because it's not my company although i have a lot of respect for the c.e.o. . when bermuda when the premier of bermuda. good on his promises to let me get this straight but if it's moving into permit it doesn't have a single headquarters as. the c.e.o. would have explained it by not exist in many parts of the world with different types of services in different parts of the world they're looking to do what i believe is compliance and bermuda which has a lot of compliance officers a very large set of compliance officers so it's quite ideal for them from the perspective does that bring in more i guess volume and business so that it's

a good for the island of bermuda brings in jobs it brings in economic growth it puts them on the right if you're mentioning it shows become a little bit more know what i'm looking to get and all paid vacation. and i actually i should say that maybe. maybe. bathing suit i think that would fall under the you know the threshold of what would be reasonable in this situation and maybe hook me up with a speedo yeah i could organize a flag on a speedo i thought i mentioned earlier i'm actually anyway let's move on charlie munger accuses you as a crypto currency trader are a demented. who harvest baby brains how do you respond we're changing the world makes us the men to. change in the world for the better and these guys have had a chance to do it and they did nothing and that's it years. decades to change the

world and to make a difference right so charlie munger for context is the partner of warren buffett over there i know i'm aware of his statement in the recent and you know he and warren have been badmouthing crept out and their own bill gates was there as well which and bill gates was is a hero of mine and you know considering some of the things that he wrote back in ninety five along the lines of digital currencies will help the on buying nations and we're literally helping a nation. in the caribbean and around the world with other central banks towards this exact mission of being able to solve people's problems right bill gates is a twice convicted predatory monopolist i'm not sure he's got a moral you know box on which to stand and lecture folks these guys they've made their way in this world and they've done well and. but they're definitely wrong they're more than wrong the mathematics in the system is pure and it's good and that the end of the day the consensus is among all of us clearly there is some screwless in that group because they said that oh they would short it if they could

and yet it's easy to short but going there's plenty ample right ways to short it going so they haven't even spent five minutes doing any research nouriel roubini makes comments about it obviously never looking at anything to do with the white paper paul krugman looks at this and he's famously said the internet would be as popular and we use less and never go anywhere and they have no feeling whatsoever for these tech. the logical reason i was i c's guys to explain something as novel in this field as public private key pair and corruption watch them fumble and then if they can even get their heads around the concept and then who are you to to judge my face currencies are protocols right so what is what is your five years from now what is going to be happening in your world what do you what are your goals with your five year plan a bit personal while both i mean because i think you two bit and you are kind of synonymous you know it together in a big way but we're just going to go in five years give us the picture well for but i see most central banks the monetary authorities adopting the bit process and the

procedures towards issuance of their national currency base i see more bridges being built between there's a lot sets and still currencies. there's still systems i see but finalizing on this multilateral clearing facilities between the unions for example carry home and i see but being. the caribbean community the caribbean as one of the songs trade unions in the world called caricom and can help unify that under a single trade union yes i'm saying there is here's just interesting angle because typically the folks that are working for eleven look at the crypto space they see the lamb bios and they see all the cover stories on the business magazines and i don't think there's anything in it for them and you would argue that there is something very important in it for them yeah absolutely are you kidding me i mean you can look into this thing and says see bowls and ten x.'s and moon shots from

those who want to scream for the working gang but for the working guy the main thing is right now there's so many different industries that can be disrupted and involved with law changes transparency transparency accountability integrity but the crypto you get purchasing power is not inflated away by the central bank that's quite important you get a saving of real money especially in the field or what. we're doing we're issuing allowing central banks issue the additional dollar but now you're providing a bridge between one of the in my opinion safest asset classes in the world bank when fantastic i mean this is such a multi-faceted story and when you're in the space as you are you get to wear the camel jacket and he also get to wear the big coing socks and i think that is a big point stocks to get a shot of the big point stocks this is a kind of forward looking fashion statement. that crypto pioneers can wear in public and get you know big applause for it but anyway we got to go gabrielle thanks so much for being on the kaiser report thank you for having me already well

that's going to do it for this edition of the concert for with me maximizer and stacy herbert want to thank our guest gabriel abed he's the co-founder of bit of barbadoes based crypto fantic company making waves in the caribbean until next time by you know. a play for many clubs over the years so i know the guy even saw you guys. the ball isn't only about what happens on the pitch for the final school it's about the passion from the fans it's the age of the superman each kill you narrowness and spending to twenty million one player. it's an experience like nothing else only because i want to share what i think what i know about the beautiful guy greek so what more chance for. peace.

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