public you know wants net neutrality that's because they don't understand it just sounds good but they don't understand the issue having said that you know if we get the senate passing it with those three republicans if the debt if the democrats get twenty five republicans in the house. for a petition they could get a floor vote there and they could possibly you know get net neutrality passed back in the house and then the president would not sign it having said all this though holland i don't think people are going to vote in november on net neutrality i mean unless they're having personal problems of their own on their internet or their phone bills or their you know they have their internet provider whatever unless they have in some major problems i just don't see them saying oh oh wow you know this is this this is get me to the polls i think it's another democrat fantasy well even if things do change their mind to change instantly but even before this senate vote states we're taking action montana new jersey new york oregon washington state

among those who are legislatures or governors executive orders require companies that sell internet services to the state to abide by the existing rules and in my state rhode island governor general mondo's order stipulates adherents to net neutrality principles means that the service provider shall not with respect to any consumer in the state of rhode island including the state itself block throttle or paid prioritize so clearly states are hearing the grassroots loud and clear and just this week the supreme court left to the states the matter of legal sports betting don't issues like this benefit from one national set of rules. well i think sports betting should be left to the state as far as net neutrality i think it you have to have some kind of uniformity if it if it involves the internet which we're all on you can have state by state making their own rules and you know the internet was running fine for twenty years until barack obama mr regulation decided

and basically don't make any mistake about it the d.n.c. reportedly touted on their web site at the time that this was obama's rules and regulations and so net neutrality was an obama you know obama dictate mandate which was for what was supposed to be an independent f.c.c. and basically it brought back rules and regulations that were meant for ma bell and making sure that that ma bell didn't get a monopoly on telephone companies and all that well look if there's going to be infringement upon people's rights or increase in prices or people having their their website censored et cetera that the f.t.c. and the d.o.j. are there for their protection that's what they're there for you don't need a whole set of regulations to stifle innovation stifle competition and stifle infrastructure which in fact will give the small prod bend companies a chance see if i got thirty seconds but this question has you written all over it

your prediction can public outcry turn those house republicans and if so could a president notorious for changing his mind do the same i'd be shocked if trump did the same republicans for the most part are feckless have no spine and don't know what they're doing so i put nothing past them they'll they'll cave possibly but trump i'd be surprise well it is an election year thank you steve malzberg from the steve malzberg home. coming up in sports it's not just about who wins and loses now it's about will this pitcher strike out this hit or how much you want to back this is the big picture on r t america.

trade wars don't make any sense because the only way to keep these countries dependent on the dollar is that they have to export to the u.s. in exchange for dollars because they need dollars to be part of the global economy and so when you go into a trade war and you cut that off you kill you you put a gun to your head and commit financial suicide by killing the dollar which is what the trumpet ministration seems hell bent on doing in the months. we have to judge countries shown to need there's at the rectory of case per case so we need more objective but the reality is. you know media tries to get the facts but also leave. their worldview so this is where social media and direct communication comes in unfortunately it's sometimes called fake news a sometimes yes but it's sometimes actually a different world view that face just big news. hour with people.

national basketball association commissioner adam silver told the wall street journal the two to four b. billion dollars are wagered on sports illegally per year in the usa it's only been legal to make a bet in nevada until now with atlantic city struggling new jersey sued and won in the supreme court which tossed out past the one nine hundred ninety two professional and amateur sports protection act. it's textbook tenth amendment the powers not delegated to the united states by the constitution nor prohibited by it to the states are reserved for the states respectively or to the people.

so if and how you bet depends on which state you live in as for when let's ask will green senior director of research for the american gaming association representing the two hundred forty billion dollar us a casino industry which supports one point seven million jobs in forty states will welcome to the big picture thanks for having me appreciate it most states have budget problems so there drooling over the tax revenue this can bring my state rhode island already budget of the revenue ahead of the court decision in the out years how quickly do your non nevada members expect to be up and running and what kind of should the states expect well it's a great question we love states and tribal sovereign nations being proactive on this issue to have that foresight to say before the court ruled we're anticipating a ruling this way we're going to be aggressive that's great at the same time and we

really want to urge a lot of states a lot of trouble jurisdictions listen this is not necessarily a cash cow it is very easy to say oh well look at this enormous new revenue stream it's not necessarily that way markets take time to mature for a lot of states this will be a new form of legal game in rhode island among the many states that are looking to move quickly on this so we would we would stress that i think in terms of when states are getting ready to move that's a very state by state answer right now certain states such as delaware for example say a state similar to rhode island and how it's sort of commercial gaming. is constructed there one of the first i think that will move their state that has come out recently and said you know our prior laws on the books already allow for this good to go new jersey obviously is they were a party sure case they will have to move quickly i think other state. it's like

connecticut potentially if there's a special session later this year which there could be could move quickly as well as new york and you know rhode island as well pennsylvania has already legalized they did so last year with a bill that said if the ruling you know if the federal law is struck down we talked about she were active right they ruled that you know if the laws struck down sports betting will become legal pending you know the government regulations in the probably geishas of those regs which they have not done yet west virginia did the same thing earlier this year mississippi did the same thing last year so we expect all of those sort of aforementioned states i kind of call in the first half dozen right first eight in what exact order who's to say you know at this stage but those are some of the first movers that we've seen be aggressive on this in that you know want to generate revenues whatever the size they are i suspect what's not pacing this is the plumbing itself the infrastructure the hardware the software the

vendors must be ready to roll a lot of people are ready to do a lot of things a lot of people have been itching for this moment i think for a long time a lot of technology suppliers risk management suppliers casino operators foreign operators third party sportsbook vendors all of these folks have been sort of circling the air space for a long time and i think this is now become a reality that a lot of them hoped it would be but if once it's real then it's real might just be an app they tack on to the state lottery plumbing in some cases right you know in some states like rhode island for example i believe don't quote me on that but west virginia as well the lottery will play a key role in how you know sports wagering is or is not offered for example in west virginia casinos there would act as agents of a lottery so there's all there's different just the position in which state lotteries again on a state to state basis and you know something we've seen something we've heard recently from the pro sports leagues and you know from n.c.

. is that you know we need some sort of federal solution and i think that's while the inaccurate for many reasons but putting those reasons aside i can't stress enough that this is all right we're already seeing we're like four days into this we're already seen major differences from state to state in terms of how this will be carried out sure and that's ok right that is ok do you do your own thing because states of already been doing this with commercial gaming and travel gaming for many many many years now in terms of what's already being done your outfit estimated that some ninety seven percent of the fifteen billion wagered on super bowl fifty one plus march madness was spent illegally so we know this money exist we know it's out there yes is there any concern among your members the casino operators that this betting might cannibalize the table games on the slots or any of that absolutely not i mean sports betting what it does is while it is not necessarily

a revenue cash cow it's about two to three percent of revenue in nevada because if you take all in nevada overall game in revenues it's less than three percent to give you to put that in perspective but what it does do is it provides a nice amenity for gaming properties right it might bring people in and then they go to a restaurant sure they might spend money at a shop right they might play a slot machine right so you know i think that's really what this does for our industry i think the real victory here is that you know americans are not going to be criminalized any more good for having ten dollars on a game would they ever be prosecuted for that crime probably not but then what is coming into the daylight now out of the shadows yes yes as much of it as we can capture and that has to do with competitiveness of product and i think that we'll see you know probably a lot of innovation in this space will green thanks for joining us thank you very much i appreciate it. now let's welcome keith white eggs. that kid of director of

the national council on problem gambling this is the national advocate for programs and services to assist problem gamblers and their families keith has testified before congress on gaming related legislation and as you might imagine he's a busy guy this week welcome thank you were you hoping the supreme court would decide otherwise well the national council has always been neutral on legalized gambling so since one thousand nine hundred two we've been working on this as an issue that most americans participate in gambling without harm but there are policy consequences for those who are not able to so why are we weren't pushing one side or the other frankly of the supreme court decision it's going to have a normas impacts this is probably the biggest single legalization of gambling in our nation's history define problem gambling yeah it's a great it's a great question easiest way to say it is gambling that's causing harm to you or your immediate family but i think if we go deeper than that it's things like being

preoccupied with gambling developing tolerance in other words needing to bet more and more to achieve that same high loss of control so people gamli problems are unable to stick with the limits of time and money they may say they may try to set up for themselves and that all leads to of course harm not just financial harm but psychological or emotional and even physical harm problem gamblers have much higher rates of physical disorders especially stress related disorders wow is this addiction yes yes it can be serious even life threatening but if you look now that we know a lot more about neuroscience if you look inside the brain of a problem gambler if you will in many ways it's identical to the brain of a cocaine addict it's the same regions are deadened and other regions are highly activated highly activated only by the action of gambling so it's addiction without a substance and in fact it's the first non substance suggestion in the american psychiatric association's d.s.m. five is there a profile for the problem gambler a certain type of personality prone to this we like to say. a body can develop

a gambling problem but clearly there are additional risk factors one of which is of course female we tend to be bigger risk takers being young member of the military or a military veteran really is a very high risk factor and that's a lot of the legislation working on right now on capitol hill ethnic stereotypes are valid asians are said to be love gaming and gambling is that a rip off or is that the case well it's been fascinating as we learn more about the research of this asians in the west who have unlimited access to high speed high stakes gambling do tend to have higher rates of gamli participation and problems but when you go back and now look at asians in their home country they don't seem to have higher rates you know much on if you will is maybe a protective factor everyone does it it's social it's cultural it's not huge money but when you take that same individual you put them here in australia in the u.k. and canada they may have they may develop much bigger gamely problems because the

types of gambling are quite different so about that high stakes high speed thing the legal gambling future we are now looking at is not just walking up to parry mutual window at the track or a counter in the sports book and we're told this is going to be smartphone based and it's not just who's going to win or lose this game but will this pitcher strike out that hit or will this basketball player sink this free throw does the law city of this concern you absolutely and that's one of the biggest i think negative potentially negative impacts were seen you can now gamble if i every play by every player in every game in real time on your mobile phone in the stadium and we have never in the united states had access in fact no one around the world has really had that sort of access to that much high speed high stakes gambling in the one to one relationship that we have with our phone so we're conducting

a massive social experiment. you know hundreds of millions of people so there is some real danger for addiction or some negative consequences with a demographic tilt i would think because kids are going to lose their thumbs at some point with the smartphones do you fear this is going to lure young man toward betting what they're already doing with fantasy etc absolutely we know that the national collegiate athletic association the n.c.a.a. when they serve survey their male student athletes about can lead to participation ninety two percent of college student athletes began gambling on sports before they went to college and seventy five percent of them before high school so this is already starting very young we know that the earlier you start to gamble the more like there i have a problem in fact the average age now of gambling problems if you talk to male problem gamblers they said they started gambling seriously for money eight to twelve years old twelve years old who've same question i've asked our other guest the casino industry has built out a lot in recent years it's not quite like

a starbucks on every corner but where i live there are five casinos and forty five minutes drive or less has gambling ramped up as an industry expanded the problem absolutely so with with the increased acceptability becomes increased accessibility and so while the rate of problem gambling is still roughly two percent of adults who meet criteria for gambling problem in a given year we think the severity of problems may be going up now much less with this expansion of this massive expansion of sports betting pete white from the national council on problem gambling thank you for stepping into the big picture thank you my pleasure may eighteenth is world aids vaccine day which you'll also hear called hiv vaccine awareness day it's the anniversary of president bill clinton's commencement speech at morgan state university and which he challenged science to develop an aids vaccine within the next decade those ten years have come

and gone but hiv has. not any day is a good day to thank the volunteers and professionals doing preventative h. vaccine research and to understand which you can when you visit h i v dot gov and that is the big picture if you missed any part of this week's show or if you'd like to share it you can where you'll find all our shows at youtube dot com slash the big picture our t. watch any time anywhere on any device i'm holland cook in washington back next week and on twitter in the meantime at holland cook and remember our deal if you follow me i'll follow you so let's hear you question more.

political blogs sell you on the idea that dropping bombs brings police to the chicken hawks forcing you to fight the battles but still. when you thought for the tell you that the big gossip the tablet or. off the bat doesn't tell you pulling out like. all the hawks that we along. with one. summit are no summit that's the question north korea's threat of a no show when single for on june twelfth is a reminder to washington that north korea will not merely cave to american demands if there's going to be an agreement it's going to take time and patience.

hi i'm max keiser this is the kaiser report i used to be iraq at that i became a journalist. stacey. is that what you call i have great legs as a journalist we have some interesting stories here to cover and these are financial chaos happening in the world and you know you always say that you can't taper a ponzi and the federal reserve has tried to taper a ponzi there are unwinding their quantitative easing and interest rates are rising so far people have said well we haven't seen any sort of reaction nothing's happening so far that's bad in the us stock markets continue to be you know near all time highs and the property markets are booming they're rising at like five six seven percent a year so where is the where is the chaos that was going to follow tapering the ponzi and of course as we keep on pointing out we're in

a globalized financial system operating on the u.s. dollar standard and when we raise interest rates here that means the dollar increases in value and lo and behold we've had some emerging market currency chaos so i want to look at what's been happening in argentina argentine central bank reserves down one billion dollars today fifty three point forty one billion according to bloomberg trying to manage the collapse of the currency which is remarkably happening out of the blue i think it's as investors have realized that the fed is trying to taper the ponzi they thought if they're going to taper the ponzi and they have and now investors are fleeing the argentine currency mexico turkey brazil russia they're leaving emerging market currencies suddenly and fleeing into the dollar act of raising interest rates after you've lowered the for

so long through quantitative easing doing the opposite or quantitative tightening imagine swallowing a porcupine and then trying to pull it back up. so all those quills they're facing one way on the way down but he pull that back out to regurgitate that porcupine in those quills or at you get stuck in your esophagus and they cause tremendous something kate and die. not even david blaine could recur to day the porcupine he just regurgitate little frogs you probably just challenge him to try david blaine i challenge you to swallow in regurgitate a porcupine. two thousand bitcoin that you cannot do this. well a full grown porcupine well of course because it is doing quite well in argentina but i'll show you the chart it's a remarkable start again you know i b b c news night thinks currency collapses in certain countries are funny but i don't think this is funny there's an inflation

rate of over twenty five percent and argentina and it's obviously a crisis for the population there always well protected against this bottom ninety nine point five percent are not protected from this and the currencies collapse an argentine peso in free fall a central bank change a strategy central bank said to accept currency at low of twenty five per dollar fair value according to the i.m.f. i.m.f. says board to me on friday to discuss argentina and there's a chart just from this year of argentine peso just to review because you're am something incredibly important here the the ponzi and the taper of the game that is the pyramid that is the dollar is being quantitatively tightened causing dollar interest rates to go up and this is having a reaction in argentina most spectacularly but also in the entire emerging market economy they are now suffering catastrophe and so a either the central banks get together and drop interest rates once again sheria

or b. as you've noted argentina is a place of adoption for bitcoin as are all these countries that are suffering from this as well and then as well and the u.s. dollar had gemini so not only is china iran and germany exiting the u.s. dollar by creating a competitor swift but then you have argentina venezuela and some of these other countries probably turkey soon running to bitcoin. so you have got and then russia's running to gold so you've got bitcoin and gold are becoming the go to assets while the us dollar hits the buffers and simply cannot support this ponzi scheme any longer on the individual level it makes sense to perhaps hold some big queen because there are geo political insanity it's only going to get worse because it always happens throughout history whenever any empire collapses look at. europe from pre-war the war on through world war two that was essentially

a part of it was due to the british empire collapsing and the chaos that ensued from that when the you know the austrian empire collapsed the same thing like chaos across europe so i think at this sort of point in time. when these currencies are falling like this you have to have some sort of protection where there's gold silver big coin mexico's currency is falling. russia's currency continues to fall but you know at least they're earning huge amounts of dollars in argentina by the way i want to point out they're blowing through a remarkable amount of u.s. dollars therefore exchange reserves in order to prop up keep the peso from falling too far and that only exist. you know those u.s. reserves exist there because of a christina discouraged who is the predecessor to machree she was very. you know nationalistic in terms of not wanting to be part of the i.m.f.

globalized system for fear of what happened previously with the debt chaos and the collapse and the economic chaos that happened in argentina so she built up these massive reserves there so he's blowing them on trying to prop up a currency which is again throughout history most currencies anyway go to zero so he's trying to stop the end of a double. keep those that hard cash you know of the dollars and let the currency fall as a follow up they're going one of the greatest attributes is that it's censorship resistant you know we travel all over the world and we travel here in the united states and people come up to us all the time and say thank you for telling me to buy a big coin a three dollars i'm now a multi bitcoin millionaire but not as many americans because of course our t. has been censors in america and the u.k. so the millions of people who could have been big claim millionaires right now are going to be watching on the sidelines as big going goes two hundred thousand dollars so here's another headline about what's happening in argentina is u.s.

dollar and interest rates rise all heck breaks loose in emerging market currencies when the hot money gets antsy a currency crisis morphs into a debt crisis so that's important currency crises often morph into debt crises if you have debts denominated in foreign. currencies so argentina has a lot of debts in u.s. dollars it's hard for them to earn u.s. dollars like say russia can or brazil because they have a lot of natural resources that are priced in dollars and you know when the ruble falls it's actually. all that they sell is rising and ruble prices so they're earning more income mexico they're kind of out of oil at this point they like counter-rally as like alone so that their income in dollars is not as high so. the point that he's making here however is that it was only in january that argentina managed to sell billions in. one hundred year bonds so investors

were knocking down the gates to get in on this hundred year by knowing wall street is like goldfish until a guy writes a show him something to trade in the trade but you know dr paul craig roberts has made a point often quite germane to this discussion and that. trumps trade wars don't make any sense because the only way to keep these countries dependent on the dollar is that they have to export to the us in exchange for dollars because they need dollars to be part of the global economy and so when you go into a trade war and you cut that off you're killing you you put a gun to your head and commit financial suicide by killing the dollar which is what the trump administration seems hell bent on doing at the moment well certainly this global financial system whether it's domestically or internationally does not seem set out for the ordinary person the bottom ninety nine point nine percent that are not friends with the central bankers when this in the united states where all the jobs happen in either new york city or san francisco but the barrier to entry is you need tens of thousands of dollars to move there and even get on the rental

ladder and rents keep on rising rapidly this is part of the central bank printing money over and over but where cash is needed most where credit and money is needed most the bankers don't want to lend to them because those are higher risk when there's easy money just speculating in new york city real estate for example so who's going to give money to somewhere in kansas nobody cares about kansas nobody cares about the middle of nowhere argent dawn i think it was warren buffett is the banks will famously lend you money to buy umbrella when it's sunny outside but once it's raining you'll never be able to borrow to buy an umbrella i paraphrase but something along the sunny economically in new york or manhattan in this sort of ponzi based system so i want to look at in europe where we have another similar financial currency based crisis possibly on the horizon and this is something that you and i have also talked about here on the kaiser report since two thousand and eight two thousand and nine during the financial crisis and what's going to happen

to italy. now my own experience of dealing with italy when i when they were still on the lear and i was working at a film sales company so we had a lot of distribution of hollywood film sold to italy is they kept on devaluing the lear and then they would come to us and say we need to renegotiate this deal because the lear is been devalued by twenty percent overnight so we always had to renegotiate because they had no money so how have they been able to sustain economically in the euro zone when it's all basically the deutsche mark they're competing against well they haven't you know they're forming a government they're trying to form a government they were supposed to form the government by the time we've come on the show but they haven't so you know the five star movement that's kind of the left wing movement grillo used to be the head of it now is luigi dimaio and then the northern league which is the far right with very anti immigrants and.