developing developed nations at the time and then what happened is the rise of. basically like vast bureaucracies you would think that a socialist more socialist system like france or germany would have a bigger bureaucracy but in fact america has a bigger bureaucracy they find in their healthcare system vast paperwork anybody who has ever experienced both of the systems there are a lot of people right now on youtube saying no america's healthcare system is the best in fact it's filled with paperwork and they said that almost all of the price rise rises compared to europe and japan and other competitors is completely just a markup it's markup on services and goods and pharmaceuticals and stuff like that so because there's no competition so. it's the exact system of the road to serfdom that was predicted for the likes of europe but in fact european prices there's less of

a market there's less of iran take classes less scalping there's more delivery of service you get less delivery of service and that shows in their results of life expectancy and actual health outcomes right you know warren buffett never invested in apple when it was a growth company yes you know he preferred catchup and chewing gum you know things that were really appropriate for a ninety year old so my senile idiot where it's just like reading porridge all day and then he looks at the box of oatmeal and says i'm going to buy the oatmeal company the drooling on himself and there's a naked charlie munger dancing in the corner flow and that's not even a way to do you have all the sorting and getting on. those really good walnuts and banana the fantastic anyway what i was saying was that he never bought into it when it was a growth company he only bought into it when they became a market pariah buying back their own stock illegally anyway a few years ago and manufacturing guys. games ok more coming your way after the

break do not go away. i am a staunch unethically modified organisms the system heads in the food industry in the one nine hundred ninety s. . the right time is taking that in the night and what does that have to do with g.m.'s. trysts. little have pushed themselves from osun of. life is a chemical widely used to lead. was the most widely used service like

a beer in history. they described to him a bunch of various possible contamination that. had occurred to just scientists proof that team context really awful on the human race to science servants to the world free of g.m.'s in crisis eight would be even be able to easily pass the points of never send. welcome back to the kaiser report i'm max kaiser time now to turn to peter georgie's chairman of fit bit is a barbados based trip to fin tech company making waves in the caribbean and peter

george walk them thank you now it's great to have you on the show because you are. a guy who's not you know a millennial i mean you have been you're not for newer and you're v.c. guy and you were you picked up on this thing called big coin any of dived in head first into this bit which is becoming a huge company and in the region how did you first hear about declined by the way my first foray into bitcoin was because of a guy called nice guys are into it in two thousand and ten i actually was one of those people that lost money among dogs was the big amount in those days you were buying bitcoin it's thirty or forty euros a day it was this it was a tedious process ok so we put a seed of this information in your head and then gabriel a bit showed up and you guys like launched bit and so just give folks an idea of what bit does well bit but it was already your own what happened was there was another legacy guy who works with her and young and i was talking to him one day

and i said you know ready to get this bitcoin technology it's unbelievable this will changing and i've been trying to get my hands on some is really hard and he put me on to gabriel but at the ready been founded and then gabe and i met and gabe pitched the company to me basically a debt time they had not been about fifty doors like a hole and sounders and they had arnold karl center this and this and and they continued to unrelenting and they found the perfect partner basically what it does is block chain meet central bank so it is it is a stable calling development in that. in a region like the west indies where you have in some cases sixty seventy percent people who are unbanked but you have one hundred thirty hundred forty percent mobile penetration it was a perfect petri dish for rolling out blocking technology. so when gave met me

because of my pension already it was a fairly easy fit it was a fairly easy that we had it all pretty well ok you say block chain meets central bank so that right there is kind of a loaded statement because blah chain a big point is down circling the globe and central banks around the world trying to figure out what the heck this is all about the central bank in india has all kind of is such a bank of china is trying to figure it out russia seems like they're getting more into it but everyone now has to confront this to say they can't ignore it anymore so in your part of the world what spend the dialogue with you the crypto man and the central bank and their regulators and the government what it's been kind of difficult that you have a couple of central banks who have been who have been open to a particular the syncrude and central bank and they're interesting as fund has said before there are currency union that trades across eight different countries there's a central banks no there there's one central bank. that shows a country and what does that refer to itself as the central bank in central eastern

caribbean and so i think it's there's seven or eight of the smaller islands in there they have been more open and in the situation like that you have where somebody in st kitts wants to pay somebody in antigua that money has to go into the u.s. or wash spin and rinse cycle and then get spit back out to an island that's one hundred fifty miles away because they because of the facility because of the back office yeah because of the the administration not not for nefarious reason enough it was because it's just that there are structures not built in your area so it's got to go out of the inference. so you're saying hey central bank this block chain actually you can donate to outsource the infrastructure we can build it right here absolutely and i don't top of the go to the u.s. and spin cycle there's fees coming off of it and this cost in the region we went to we went to we presented the mit labs

a couple years back and they estimated that seventy million u.s. dollars a year is lost in fees and insurance stuff in shipping into the caribbean through the banks and they said up to seventy eighty percent of that could be eliminated with with with with locked in technology so we're implementing that for most number again seventy seventy to eighty percent can be saved right what did you pay that area or not. g.d.p. second you see c b i can speak to trinidad maybe barbados our g.d.p. is one hundred sixty billion in trinidad which is roughly equates to about twenty three twenty four billion u.s. right so i mean these are meaningful say those are the big number i mean these are makers so it's almost like you know you talk about remittances in the developing world you're saving one thousand percent or more in the remittance faith and it drops right down to the bottom line if you're getting ten or twenty bucks in remittances let us say you getting another two or three bucks that's a huge desert they are in your area you're going to knock out huge fees the banks

of course now the central banks are related to the commercial banks in the commercial banks are doing all the phase are they willing to break ranks well in some instances they do it well you know what a central bank really does it finances a government that's really what a central bank does all fortunately with the caribbean in many instances because of the poor policies of the last ten fifteen years these countries and the people are so they have a penchant for foreign goods and foreign money so by extension our central banks would even have the capacity to make policy a situation like right now in the u.s. we're just coming out of recession rates are going up in some parts of the caribbean where we're in recession where it should be going down to stimuli. rates are going up because there's they're almost in a sense all the central banks they can't make they don't have monetary policy autonomy so they are couple to the central to commercial banks but they're also coupled to the for their currencies aren't paid to the dollar they're not paid but

they're just zombie in that they seem to follow along us without actually giving any local consideration of how these policies might impact that they are suggesting that their rate should be going lower its rates absolutely should be going lower in the caribbean certainly in front of that and they're not they're not because they simply they simply follow the u.s. because of the of the how in the trickle the link that they are i let me ask you that a lot of such ridiculous a the way we come up with our decision we have a dot matrix and we have metrics and we have all kinds of data that we look at and we come up with our interest rate policy and but here in your part of the world what because of the economy is within arm's reach of these guys it's not a sprawling twenty billion dollar economy they can look out their window and see what's going on so they don't need all that sophisticated dot matrix stuff they can simply look now will will this bit your company bit which is block chain meets central bank how can it help them make that kind of a more informed decision it's

a stable coin you know that but it will it how is it enable them to get a clearer view well it may not help them as much with policy right now but once you are in a position to essentially digitize your currency make your currency and make. essentially going to expand the banking base by i mean really when you bring somebody to the banking world and that financial inclusion makes that person a viable part of an economy when they're not part of that economy and they're still keeping money under a pillow or in a shoe box and they don't have access to credit they don't have access to regular banking services when these people come into the banking system you know a whole banking street superstructure begins to change so i think when that begins to happen and we begin to have a more homogenized banking relationship between you know the banks you know the bankers and the banks i think the central banks will have a little bit more space to have some more autonomy in the policymaking but and so

that's one that we may do but that's that's a way off the right sound other words or adding more people to the system and here's how i see the economics of it all you're adding more supply the system which could buttress your case for interest rates to go down but we'll see how that develops so let's get back to the main business you know strategy of bit so blah chain meets central banking and regulatory framework you've got to be on top of this and so what is what is year goal like how would you like to see that evolve will educate is the first thing because right now there's still this fear there's this fear because of a lack of understanding when it comes down to less is used krypto as an example and you have some of the foremost mines in the caribbean that will that would last me and they say but but what's it back by and i'm just using crypto but before we get to the stable call it was about by and i said you know and they go in this and it

of intrinsic value and i believe in subjective value that's that that's what my trading is but put that aside and i saw strained leisure and economy and i asked them they said was the u.s. dollar is backed by the central bank i said so so you feel comfortable that the value of your money is. controlled and bought by people who in the keeping that a value will then debase the value it doesn't make any sense that you know something they don't understand they think because of the seven people in the room male or female that suits on that essentially decide the price of money in the future is a soothing you know and that's why they said what banks crypto but going back to going back to the strategy with us is educating the central bankers understand educating the policymakers to understand that we're not anathema to the system what we will do is compliment the system what is going to do this is going to be a gateway this is going to be a gateway to ease into the ever evolving to nomic world of digital currencies and

it kind of as a friend of ours of say plows the road it makes it easier so that central banks become a little bit more pliant into understanding and it's not quite this systemic shock of going away from government issued money into this you know as they said on the i think it was south park space cash so that education is i think is what's important i think that the coming the road but it's just taking a little bit of time and when some of the big hitters of the world you know some of the older legacy guys come across and say things that are disparaging and i want to tell the world that charlie munger that kind of hurts your case right it hurts i don't know those guys speak talking out of their book they're talking their book really they they they see this as a competitive threat so they're just trying to force progress this and those guys have made a shed load of money and i respect those guys ability to spot value right and put their money into value but they invest in things that don't change wrigley's

chewing gum gillette i mean so when you look back when the idols of history are written i don't know i don't know that it was anything groundbreaking when they come out and say things that are disparaging like i think you said one of the previous segment i mean it's. well you know the thing is that like warren buffett is totally got his tentacles into wall street and if they see something they don't like they can coerce wall street into attacking it would make it short sales and all kinds of chicanery but here they can used as a tax so they they are forced to use ad hominem attacks and you know i want you start insulting something with ad hominem attacks like eve lost the argument it shows that they're they're they're impotent that's look best the only way it reaches the end it's like jamie dimon is an incident he can't do anything about this wave of change that this intermediating him but hearing the things that they say and most recent photo of jamie diamond at the airport if you see this man call the police immediately they should be warm but i'm stoppers crimestoppers

a lot of moms and their ability to know they're the most dangerous people you can lead a lid on an airplane i think monger buffet financial jihad the truth but then what is this what they're so they watch your show down there and what's. the greatest speedo by the way will i here looking for you in bermuda with the speedo on i'll be there to see the bermuda shorts were written underneath the shorts be a take the shorts and a string bikini we're going to go through what sort of time it would be good peter george thanks for being on the kaiser source of pleasure and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert want to thank our guests peter george he's the chairman of the bit down there in the caribbean if you want to catch us on twitter it's kaiser report until next time yeah and me and my speedos.

fully. paid. to keep the heat outside if i'm not on. and. by then i got a session on the nod that i know. by then is a shift of on. a stop in atlanta not a set of listeners going on more. songs. but not so it. can be no surprise was if you have to get the multiple injuries among can't connect to soak them to yourself you will see the look of the show's reality of mars on the phone to the book on the if you can book a complete professional services say yes but in the book and i wasn't what my.

mom. wanted of nothing left off allowed me. something that was. on long enough something not setting. up a set of tunnels look not just that but up to now maybe i made him promise to pull it off. seventy four design submissions zero. seven thousand pilings. to join judges. and eight hundred sixteen nonstop days of work. a russian w.b. a champion of it. and a russian pulp stuff. show you how man won the crimean bridge was built.

witnessed the construction of when you need to transport. the will downs of crimea the faster most of those you know while google more familiar with it a bit but it's clear. in some american cities the police. cling to read each of these people who walk on the streets of the united states who are at risk from the very people who are supposed to protect that people are afraid of police. you can see something happening and this is why i don't want to. call the cops in. their lives chasing the. trigger you never know better safe than sorry i don't know that someone else is going to die so. unfortunately

around here we are. told from the police to. the u.s. to top diplomats lays out a twelve point zero to make them to be wrong but the hard line demands are being flown department approved and the confluence to use against the new. secretary speech has not demonstrated how walking away from the disability has made a will make the region safer. also this hour the u.k. government is blamed for a lack of action almost one year old from the grenfell power a public inquiry is only now getting underway into why seventy two people lost their lives in the london. i don't think they're doing enough to pull out of government haven't done enough not nearly enough no that's not enough so as i can

see. plus the accusation spread and new investigations open in washington as the alleged trump of russia collusion probe both local the f.b.i. is now under the microscope inquiry into the us president. it is a very warm welcome you're watching r.t. international with me nicky air and our top story this now opposition is mounting against washington's new proposal for the iran nuclear deal as the u.s. threatens to run with what it's called the worst sanctions ever on monday the u.s. secretary of state mike pompei o put forward twelve demands promising unprecedented financial pressure if they're not met. iran must declare a full account of the prior military dimensions of its nuclear program iran must

stop enrichment but then support the middle east terrorist group also and its military support for the militia iran must and is threatening behavior. we will apply unprecedented financial pressure on the iranian regime leaders in tehran will have no doubt about our seriousness united states intends to work hard at diplomatic peace working alongside all of the partners we focus on the europeans. secretary speech has not demonstrated how walking away from the just has made a will make the region safer there are scores of countries around the world who share our concerns we will remain committed to the continued full and effective from the mentation of the way and i'm convinced that over a period of time there will be a broad recognition that the strategy the president trump is laid out is the right one. there is no alternative to the just. yeah our stomach and want to preserve and salvage the iran deal because it provides additional security and transparency for

germany and europe since we don't see any facts alternative a president we don't want to need to deal with to get on a rainy and president has given a response to the demands saying the u.s. kong tate to to iran and that the world will no longer cave in to washington's bullying and his speech america's top diplomat also made a statement in which he appeared to encourage iranian people to question the country's leadership at the end of the day the iranian people will decide the time on. at the end of the day the running people will get to make a choice about their leadership if they make the decision quickly that would be wonderful if they choose not to do so we will stay hard at this until we achieve the outcomes that i set forward today. but in actual fact just general public just as much as.

it's not true that over again. the united states has closed the door to negotiations we cannot hold talks. and it seems the demands made by pompei i want something well with the us media either some analysts even described it as fantasy really a pipe dream other experts said washington's belligerence could cause chaos across the middle east and leave the us increasingly isolated. this is not the first time actually american administrations in the past have tried to actually destabilize the iran from the inside but the problem with that is that destabilizing governments in this part of the world from libya in syria in. various parts of egypt. in tunisia these disruptions for the for the stability of these countries created more damage and more harms for the rule of law for human rights for human dignity all over the the region will be seeing that the wrong will not trust the

united states for years to. the allies of the united states on the other hand even the europeans they cannot count on what the united states say. the stamp administration regardless of what their allies in europe are saying they withdraw from the deal that the europeans were supporting i think it will be very hard for the united states to bring europeans or are the sensors on board in order to support that pressure that they are talking. almost a year on from the grenfell fire in london which claimed the lives of seventy two people a public inquiry was officially launched on monday and the moment was filled with emotion with those involved one survivor spoke of his stillborn son born to hours after the tragedy some of the following images you may find upsetting. so i held my son. hoping. it's what i treat

my wife. she's made of the hardest to do i know. some of her strength coach will be. survivors will give their accounts over the next week or so and the probe will then

look into wider issues like government response time and preventative actions and they do richard a has more from london. it's almost been a year since the devastating blaze and what's left of the grenfell tower could be seen here behind the scaffolding it's a harrowing reminder of a tragedy that has left many questions unanswered. there are over hundreds of tower blocks in london alone similar to grand felt and people living here want their government to make sure that it is also like that does not happen again it's like a year now and we're still living in the same situation when we found out altered to be true when. it just costs us praise and just think it was cheaper to just the

lives of so many people and say this one comes in the street. so we know that it's obviously not safe before we could help in the going on at the moment signs are becoming the book of mormon homes with so what can the residents of tower blocks like these do in an emergency the advise used was to stay put but now according to the london fire brigade is being changed to similar taney as evacuation because of the farmable clopping however the government is yet to ban it tourism a promise to spend four hundred million pounds to replace unsafe cladding on high rise public housing blocks just sixteen other tower blocks have had their alum in the employ of the material replaced with non combustible materials so all the authorities doing enough awful lot of government haven't done enough. to the needs of those of us to provide winchell in terms of the for that experience when family i don't think they're doing enough for them not nearly enough no i think the issue

with the clothing they should have resolved upon our. choice i could see i mean to go against that one sort of coming over and nothing's. what struck me as i've spoken to a number of residents who live here at the child courts estate in camden is the fear in their eyes at the thought that they too could have lost their lives and now they're after a clarification from the government as to what's going to happen next to resolve those problems and action to be taken the dear tutor r.t. . the u.k.'s housing minister has said that the government is listening to concerns and will discuss the policy review concerning a ban on flammable materials and construction well over two thirds of former groundsel residents are yet to be three homes while some eighty two households are still residing in emergency accommodation we've spoken to a campaign about the tragedy we haven't seen corresponding auction on to see action

is difficult to believe the government what asked for consultation if would know that they are calm boss to my tools still around buildings today we shouldn't discuss it in part of it we should take action to d. because we need to have another greenfield they should be versity there should be presentation there is no representation in democracy is not democracy is not just issue raj to cause more year to argue that we needed adversity in the team. to see that we view what was obvious how long. a group of filmmakers have been looking into the tragedy and its aftermath the documentary called failed by the state you can watch it in full on the redfish you tube channel and on facebook but here's a quick preview for you. it was my hold for twenty five years.