one point nine percent that are not friends with the central bankers where 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 would 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 there was a 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 argento nothing goes warren buffett is the banks will famously lend you money to buy umbrella as well as sunny outside but once it's raining you'll never be able to borrow to buy an umbrella a 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 layers 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 do each 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 it's. demaio

and then the northern league which is the far right with me very anti immigrants and very far right northern league they're trying to form a coalition government but one of the things on the on the table is actually a parallel currency for italy and. the thing that's remarkable about this is that there's actually a lot of print media about this leading up to the election so from the last year like all the major parties of italy bar one which is the five star movement wanted an alternative currency parallel currency to the euro an order to bring liquidity and credit into the italian market because nobody wants to lend to them we've seen this movie before it's called greece yes they went through the exact same thing for the exact same reason that they had an inflationary boost once the euro was introduced and then they got the trouble because they were borrowing money at the same rates as germany and they indebted themselves into a crisis and now that's moved over to italy now of course italy want to do

a parallel currency just as greece wanted to do a parallel currency and steve kean was on our show talking about that extensively they could have backed up by silver it could have been the new drachma who got involved the i.m.f. the e.c.b. and the e.c. the troika stop that from happening because they're in the business of killing countries for the benefit of hedge funds like john paulson italy as we speculated back five or six years ago would be the next feast on the never ending movable feast of i am a c c b kill and destroy royal bank of scotland ask mame torture steal kill for they might be bringing in a parallel currency is probably not going to happen with this administration if they are able to form a government but the fact that all the parties there want to want to end the population once it does suggest that there is either the end of the euro will ultimately end the euro or it could inspire other countries to start doing it

across the are the ones that aren't receiving any of the credit flow but the i.m.f. doesn't want it so it won't happen well we've got to go to a break much more coming your way so don't go away. all across europe municipalities are taking their water supply back from private companies who create interviewed by the social simple song alone events i'm going to guess will elsewhere though they invite private companies to take over the utilities many by the telus drop off alexa list you guys you got to be a while in the program i recall you describe and this is a map of us to quote them out of your corporate overall roberson or you will deliver bill brought up locals are ready to stand up for the basic human right of access to water is about water but it's also over much more than war it's about the

hurt and the redistribution of almost all girls and their debt downwards the one dollar. about your sudden passing i've only just learnt you worry yourself in taking your last bank turn. up to you as we all knew it would i tell you i'm sorry if i could so i write these last words in hopes to put to rest these things that i never got off my chest. i remember when we first met my life turned on each breath . but then my feeling started to change you talked about war like it was again still some are fond of you those that didn't like to question our arc and i secretly promised to never again like it said one does not leave a funeral in the same as one enters in mind it's consumed with death this one

difference i speak to now because there are no other takers. to claim that mainstream media has met its maker. well go back to the kaiser report imax guys are time now to turn to our homie marshall long he's an ode ga bit coin minor is down branching out into other crypto abbott as including ios dot fish we're going to learn about that in just a few moments marshall welcome to the kaiser report they so much max good to be here to see you oh yes fantastic you know we have been you know part of this cryptic community for a number of years now and we've seen all kinds of ups and downs and crazy kind of trends and we're at a moment now in history where the jurassic park old guys like charlie munger and

warren buffett are weighing in with their comments and according to them you as a crypto currency trader and miner are dement who harbors baby brains how do you respond to these charges well you know dinosaurs have to die sometime so i guess now sometimes goes in five or six years ago you know the trolls that would come and try to kid is the crypto community being involved in something that was awful of course they were low level people living in their basement it's very not i've got billionaires coming out after us jamie diamond i think that's got to be a good sign i think that's the only sound we're looking for at this point when that when the old grey haired dude start trying to come for your money that's why you know you're doing some right here in mining and you're still mining of course ok and morgan stanley recently claimed that big coin miners lose money on bitcoin under eight thousand dollars per coin now we talked about this and can't couldn't at this toshi round table and of course you're one of the established miners out

there and we said let's pick your brain a little bit here what do you say to that statement i feel like those people are incredibly undereducated and use a very western sense of what costs are in general we don't find any play. that has under over four cents per kilowatt hour for power cost or cost is a big driving factor in what they would call the price of production and their projections are very over exaggerated however that's just because they don't know what you can get power for when you sign deals with other government bodies a thousand dollar coin is highly inflated but there is a some point a price for a coin that does affect mining correct what you're with your actual energy costs and as you point out you're always looking to do deals with various governments a lot of governments have excess energy capacity they're looking to unload so for them it's a win win right they just they would not use energy anyway and so you're out there scouring the globe for energy so now it's energy efficient sure if there's a surplus why not use it to secure

a block and i mean this idea that big bitcoin is energy inefficient right there is one reason why it's not no other reason would be that well compared to what not compared to the dollar right i mean all the energy the dollar the pentagon are going to fall or have a cold if there's a surplus why not use it for mathematically provable security instead of some stuff that they're doing around some u.s. funded basically terroristic activities right the u.s. dollar is takes a lot of energy to make us dollars are backed up as by the military and the phrase you keep getting in there mathematically proven mathematically sound mathematically . you know immutable right it's an immutable tradeable value over the internet let's talk about this discontinued response to this all idea of mining being you know in the ecological disaster i'm thinking about iceland these geothermal energy so that's just come or it right out there and it's literally the pump up that's

that's where it's coming from it's all from volcanic activity underneath steam powered a lot of the stuff in iceland also big countries like sweden they're closed off from the rest of you as far as their grids concerned not a lot of people live in sweden but there's a lot of power in sweden so you know some of the top. miners are in sweden now. also there's a lot of stuff like cambodia and all these other places that aren't densely populated there's just extra power that they can't do anything with and now with solar coming out there's a whole other new demand dimension that you know power used to be consumed a lot during the day because of the heat now solar panels are more efficient during the middle of the day so the power curve has changed solar electric power as the cost is dropping down down that a some particular like a microchip is just becoming a very short narrowly you know cost efficient to do it to do the mining and the technology side on the chips etc the chinese company about. you know what give us a little potted history of that whole story line that's been going on sure so you

know most of the six come out of china there are a few exceptions however these are the people who specifically he got in a group of very early around the same time i did and he had a really big appetite for risk he took some big risks to make help make one of the first mining chips and that's where they cut their teeth and now you've got big companies like intel samsung all these companies coming out with prototype chips and they're not as good as jihan stuff in fact just because he's been in the game doing specifically crypto related chips for so long nobody can touch him at this point right and people suggest that there's a potential to monopolize the mining with those guys but is that a fair statement are now really at the end of the day the brains behind the operation are employees and employees move from company to company and you see a decentralization of employees over the technology so there's always room for improvement and when the brains kind of get dispersed to different companies you

see it in centralization effect there right now if people argue that because it's backed by nothing and you know mining is the energy intensive right so there's a direct connection there there's a one hundred percent correlation between how secure your block chain is and how much power you burn for proof or coins right. back by way it's backed by the security that you use your burning power to secure your chain and that's what is backed by backed by energy that's it and. why this is a list of the folks not exactly sure but let's move on to your next chapter in crypto life so you've got. fish and you're becoming maximalist yourself but you know this fish is now on the radar and to full disclosure i think it was might have over some exotic drinks perhaps or was maybe was puerto rico i can't remember exactly when or how but now max and stacey aren't fish indeed what have you got us into

a few flavored drinks with the few umbrellas later and you guys are now in us to fish so we feel like big point is cool and all that but that was just chapter one in the crypto story theory i'm going to push the envelope a little bit further and we think that us is going to be the next kind of big push as far as the next tech revolution as far as blushing is concerned so what we've roped into there is basically layman's terms of theory in two point zero but better i would say ok so compete to the theory am in let's call it the smart contract space sure it's smart contracts two point zero is what we call you for blocking two point zero now we're getting to smart contract two point zero you know i'm a big claim maximalist you know i came to that after a few years realizing that you've got a really everyone is ultimately big climax to lose because this is the never going to be no one like they call and it's got the. pedigree and the

thrust in the market to do it has to do but. it can can live side by side sure and they serve different purposes you know you know as you can think of as kind of the operating system and you can think of big point as more of. the hardware behind it because big corn is is is a great project and it's very widely adopted and theory and even is having trouble getting to that point and us is more about the software layer and the two point zero what we used to call the web two point zero things like lift and these kind of companies are now the three point zero version this is kind of what us can enable to go. on the scaling side of things you know and. they did a project called crypto kiddies which seemed like a clog up very quickly. would this be a little more robust it can handle a lot more volume a lot more transactions and the way that it knows that is a lot different it's more about it's more of

a community driven force so with the theorem you can mine and that's where all these bottlenecks come into place us has a concept called block producers which is where us to fish comes in but it's more community focused because if you mess up then the community can vote you out of you being able to be a block producer so that's a big part of what makes us great is that the community decides who gets to kind of do what they want and they vote with their with their tokens at that point so it's put your money where mt is not sit on the sidelines and talk is it like. a master node it's similar except there's more power to the stakeholders and us ok and it's already like the number five going to market cap that's right and there may not have been even launched so right and dan maher is kind of the guy was also with chairs and steam it. got to be a very project successful steam is you know paying people now to post content to

the web now where you see a story that facebook is thinking about coming out with except what does that tell us what goes through your mind it's interesting because you start to see. a polarization of. you'll see you've got the big old gray haired guys from wall street saying they hate crypto and then you have big companies who basically run those old guys saying no we're going to also use it so now you're seeing the split again which is quite interesting as far as big companies getting in the black chain it was inevitable has a lot of efficiency advantages as far as how they're going to use that i think is way to be seen in the adoption rate. we'll see how she goes i guess. of course the bay coined. bacon back call and now this is i mean most delicious of currency i mean this is obviously is the company is saying block chained to as a promotion we saw this a burger king as well for does this take away from the space or doesn't is

meaningless the reason i mention it is because someone like a peter schiff will say there's eighteen hundred cryptocurrency and even you know mr myers got a trip to a currency burger king's got a cryptic seems to feed his perception sure sounds a little bit about why that's proper probably wrong so in general the great projects will stand out and the silly projects will just fall by the wayside and the silly projects are what feed the trolls to be able to have more fuel to come back out and so i think in general the products that are worthwhile will continue to outshine the rest of them and the ones that aren't worth anything will just fall by the wayside eventually yeah i remember seeing a video of peter schiff with a combi which is a gold card that you can break off into your grand candy bar and he's saying you can ease out of the store to pay for stuff now that's obviously doesn't scale very well but you could just use a trip to cars on your phone and bill thing that was just like old so i don't have to carry around forty pounds if i want to buy a car or something right. all right fantastic so being the fashion forward thinking

you know hero of the space that you are i see you're wearing the big calling socks of course pleased to give the audience a view that because i thought so what we have here are the exclusive limited edition big socks very rare indeed what you can see is many different because on the socks going right into the shoe these are indeed very limited and only acquired by the true corners really indeed indeed like guns a little private keys are sewn into the fabric were not a lot of talk about that at this point is the most is the lambo of socks that's right all right very good. well marshall thanks so much for being on the kaiser report thanks so much max all right well that's going to do it for this edition of the guys are in for with me my guys are stacey everyone i think our guest marcia long minor and now with ios dot fish and you can catch that on line. dot fish if you want to catch us on twitter it's kaiser report until next time.

i've been saying the numbers mean something they matter to us is over one trillion dollars and. more than ten white collar crime stamp each day. eighty five percent of global will you want to be all for rich eight point six percent market saw thirty percent just want to secure some with four hundred to five hundred three per second per second and one rose to twenty thousand dollars. china's building two point one billion dollars a i industrial park but don't let the numbers overwhelm.

the only numbers you need to remember one one you know for a minute the one and only. thing you've been signed on to guess. that is pretty. i think since i called. him and if you can interview. these.

if you don't know. but if you think. you. should. leave it. in years increasing their release we could call a spontaneous emergent track global track of water in its policy which goes in the opposite direction taking water back into copycat it's only a few years ago the problem was the town. from forth and the people. in the places will be able to.

get it if they can get it. but. it's becoming more and more. highly profitable to trade of those people who see everything as something to invest they want. they want or. water is the driving force of life. natural results to which one out of ten people

on us have no access. to the sky so it becomes management of it that is who provides water to big cities becomes more significant. for more than half a century this was a domain of private water companies however since two thousand things have begun to change. cases of this awful fronts. this is quite important as a trend especially because france is the country that has invented with the proposition as we know it today the country that those. best. yet look at.

this. it's just you. know when you buy the origin of a family by going to. and then easy. the successes to that era today's french multinational companies. and suez two of the world's largest private. water corporations. can or will this to see. you. stoic see in. him is.

look for more of less he's seen a supermodel. yet. this was all cindy looked more. developed morsels all. because i was better but i put it on a collision that will smith who and what would you have been to some qualities. is to start a new earth. jaxa deadworld only breed you should have. a fair good libby did no harm but you do need

a fast. a precaution or bead you should. be pretty if you're very excited about it all back down to. the circle that i might buy. to leave it was a trade unionist and veolia when he started to publicly condemn company practices. that cost him his job and led to a long legal battle that ended with him big exonerated and rehired by veolia. to us aboard that mack video even. the daily mail for it you mention last year extraordinary something to me on the all very demo i think the field shows clearly canaries and shown the party. they produced on that. it include do loop i don't disturb them all i still see the call by like top.

that over there is how many mob owns that it would sound it will the moisture lead he felt roost astraea liverpool were to near an iconic on top. is sassy. as physics for of all that it to have been put by them on then they get the p.v. jock all charge of on the inside of the top all don't see little down imposed on i do it courses from. new on up at pretty you she owned bottom and there it is that's when they're the only person saying it's bad enough see out on this when i. was no sis all seven could look into four of one pretty bleak me transit in the bay did they guess your beauty tried to

see who calls here to go only to the us for not dollars each see the family. to guess you know there is a unit out there on his own that pounding we. might. not only in screenplay i pull some pull and push ways. in that one nine hundred ninety nine annoyances as in the lean and in the only possible gun mitt yeah. political idea exactly. that is your business good then that mongers that do this fund get. this today.

as a display towards them and one man had because. he was in sledged. and i know this all does lidy glint till we once loved to go and meet him but if you see ads if you. can barely never see between pretty perverted wooden bound and after staring to sort. of could be never to after tuesday i'm just one billion up the first worn out there does not believe. for sure that it lies at this affair for infant i see. sure it why does in their living space and when they shouldn't and wish deeply about to see it all militia.

go in to show the social democrat m.p. in berlin's parliament asked for and was granted permission to read the contracts between the state and the two companies. she was led into a windowless room where she wasn't allowed to copy anything or even bring a pen to take notes. how cool it was look i'm asked and. asked what in public private partnership for traffic. class is in my p.p.p. . so i didn't really believe in that and barely managed a new class at a good michigan who was out of power is khamis didn't work then given the easy first. undesirable how'd allie it went that one in the eye and she'd skittish and

get high on those she'd skittish.