almost all of the price rise rices 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 to a class there's 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 showing you know things that were really appropriate for a ninety year old son 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 there are those he's drooling on himself and there's a naked charlie munger dancing in the corner and that's not even

a way to do you have all the sorting while i'm getting on. this really good walnuts and banana that's 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 ill gotten gains ok more coming your way after the break do not go away.

g.m.a. stacia mystically modified organisms the system is in the food industry in the one nine hundred ninety s. some. of the items on is taking that in lives and more does not have to choose g.m.o. . trysts just. have the shadows almost swapped. is a chemical widely used to kill the leak. was it the most widely believed service like the beer is because. they use drugs and the runs are various possible temptations but they can occur future scientists proof that g.m.

products create awful on the human race to science servants to the world free of g.m.'s in crisis eight which may even be able same as we've cost the points of never send. them a warhawk sell you on the idea that dropping bombs brings produce to the chicken hawks forcing you to fight the battle against all odds to do stops by to tell you that what we gossip the public by itself of the most important news today. while the office of advertising tells me you are not cool enough and lets you buy their products. all the hawks probably a lot of audience will watch. 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 crypto 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. a 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 in the region how did you first hear about because by the way my first foray into bitcoin was because of a guy called nice guys are into it in two thousand and ten x. was one of those people that lost money among dogs was the big amount in those days you were buying bitcoin it 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 had a ready been founded and then gabe and i met and gabe pitched the company to me basically a that time they had locked in about fifty doors cut like a hole and sounders and they had arnold carlson are to listen to it and and they continued to on relenting 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 headed off pretty well ok you say block chain meet 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 he 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 funders said before they're a currency union that trades across eight different countries there's

a central banks no there there's one central bank that that's runs 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 the money has to go into the u.s. or spin 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 interest. 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. the g.d.p. again 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 their e-mail a survey and it drops right down to the bottom line if you're getting ten or twenty bucks in remittances let us see 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 you know the banks of course now the central banks are related to the commercial banks in the commercial banks are doing all the face 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. it's 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 difficulties on paying to the dollar the no pay 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 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 a 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 banks 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 it's 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. there's austrian leisure anaconda and i asked them they said what is 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 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 would sue someone 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 to say plows the road and 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 block 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 having 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 been warned by him stop or his church crimestoppers don't let him on this and they're willing to go there in the most dangerous people they can lead to live on an airplane monger buffet financial jihad truth but then what is your audience that's what they do so they watch your show down there and loads oh yeah oh yeah other great a speedo by the way well 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 to take the shorts and a string bikini we've got to go it's already so it's already time it will 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 guest 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.

join me every focused on the alex i'm i'm sure and i'll be speaking to guests of the world of politics or business i'm show business i'll see you then. i don't think that it is that our lab here that. much as the students. get out here tell us a little easier. than we have set and beam it does. suggest that you get outside of that muck on the and . by then got a session on the nod that they know. by then is a shift the balance. all of a stunt to an audience at a loss is going on more. certainly not so with. no support was revealed to the multiple injuries among current america

so the kids will see how the look of the show's real yammers on the phone to the book and feeling perfectly simple so simple so this is a yes but in the book i'm also for my. own image of nothing but i have a kind of off allowed me to see it how on the somethin that was or what i'd done on the off something that set it. up not just and the titles look ma but that's what i found i mean i met him i met him for the.

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the u.s. vice president warns north korea could follow the path of war torn libya if fails to agree your nuclear deal with washington we report this hour from north korea days before it's set to dismantle the nuclear site. also ahead america's top diplomat lays out a twelve point. but the hard line being slammed home broad as a battle in suits against the new nuclear deal. secretary from paris speech has not demonstrated how walking away from the. has made a will make the region safer. and the u.k. government is blamed for a lot. almost one year on from the ground in felde towers

a public inquiry is only now getting underway into why seventy two people lost their lives in the london tower but. i don't think they're doing enough for the government haven't done enough not nearly enough to know that it's making the rounds i can see. twenty four hour news live from moscow this is r.t. international my names you know neil welcome to the program our top story the spikes on apartment reproachful in relations between north korea and the wider world the u.s. is now hinting that kim jong could follow the fate of the late libyan leader colonel gadhafi if peace doesn't sign off on a new. this was only the libyan model and the jong un doesn't make a deal some people saw that as a threat well i think it's more of

a fact. for more all this i'm joined in the studio by hadley sure set c. for her take how we should just what was said there by the u.s. vice president what was meant by well referring to libya let's first of all remind ourselves what happened to libya needs colonel gadhafi back in two thousand and eleven well in return for economic aid and sanctions relief he agreed to abandon his nuclear ambitions but just within a few years he was overthrown and killed as a result of a nato led bombing campaign now this is being somewhat of a warning to p.r. the fate of the trump kim summit has been hanging in the balance and in light of recent remarks by trump and also by the u.s. national security advisor john bolton that north korea should strike a similar deal to that libya made in two thousand and three. i think that's what denuclearization means and we have very much in mind the libya model from two thousand and three two thousand and four we cannot let that country have nukes we

just can't do it the model if you look at that model with gadhafi that was a total decimation we went in there to be that now that model would take place if we don't make a deal most likely. kicking out in the in to. get this point there but for a week spin a better relations between the north america why is that now seem to go backwards exactly well since the u.s. and south korea went forward with yet another military trail that north korea's doorstep north korea has threatened to call off the summit and many observers are now offering questions as to why they would need to provoke them just finally after agreeing on the meeting between trump and kim jong un and in fact politicians around the globe noted this as a step towards a diplomatic victory but however with signs of an unpredictable nature sometimes coming from the oval office with them you can get their hopes up. i think it will

be virtuous as well but as i always say who knows what's going to happen you know i often say who knows who knows a lot of good things going to happen a lot of bad things are going to happen you know words. a lot of things change everything's going to be scuttled everything could be scuttled well ahead of this summit meeting a coin has even been made with donald trump smiling at kim jong un and we can see that on the other side of the coin in just a moment but it's a commemorative piece describing the meeting of peace talks that this is being ridiculed and now criticized as being premature you know the question now is are they going to talk will leave us leave the negotiating table or is that just a ploy to really call north korea's bluff here what do you think well it seems to be a bit of a roller coaster at the moment now washington sending signals that it's ready to scrap the peaceful talks and threatening military action as well and this also kick coincides as well with the decision to abandon the iran nuclear deal and its

commitments under that which will surely be noticed by pyongyang as well well it's just seeing what's their reaction going to be to all this well bringing up libya perhaps jeopardizes the progress in negotiations with north korea but ahead of this summit north korea is publicizing its promise to halt its test as the country announced that it will dismantle its nuclear scientists we know it's an important show of goodwill from north korea and he is in fact that correspondent. reports from the nuclear. so it took us roughly two hours to get from the chinese capital beijing to the southern city of warm so we didn't go to the korean capital the blogger to the resorts it is now only just to count twenty journalists on this trip so we know a lot of professionals a lot of them i call needs were hoping to be able to get here well we didn't have

a chance off to a very firm security check we were taken to a don't tell is probably a complex a look at the whole of the code let's hold it inside for fighter jets and it is good he didn't sort of a natural fox looking every it's very green the weather is not much for home evolved since rain right now and i don't think this is why you become to go to the nuclear test site right now we were supposed to leave in a few rounds do what it is wind we come and go to continue the strike itself right now six hundred kilometers away from here and we're being told the weather is really really bad it's snowing three minutes and sees this is the reason why the consulate that's now trading would say has something eleven hours to get so right now we're expecting the departure of a very good on a one of the few global journalists overseeing the situation in north korea today

well we also talked to a former u.s. envoy to the united nations who's negotiated with north korea before he say it's not it's highly damaging to make such a big threat especially when it's so close to the summit between the two leaders. the administration speaks with too many voices on north korea you've got national security advisor bolton bringing up the qaddafi issue with north korea they get very nervous because gadhafi gave up as weapons and then was killed that's not a good thing to talk about before the summit and i think secretary pompei oh the secretary of state has handled the issue well he's dealt with north korea has met with kim jong moon twice he established an intelligence channel with the north koreans i think the president needs to prepare substantively he needs to have a strategy but he needs to leave the details and the message to pohnpei oh too many in the administration including the president are speaking i believe the

administration made a colossal mistake and getting out of the iran deal because iran was complying they were going to for several years not develop nuclear weapons they're enriching uranium was being shipped out yes i wish the iran deal under president obama had included other provisions like iran's support for terrorism what they've done in syria american prisoners that cetera but i think the administration has now put some very unrealistic demands on both iran and our european allies and i think it is a bad mistake especially on the eve of negotiations with north korea the north koreans are going to say how can you make a deal with the u.s. if they've break agreements. well let's sum up what we know about this the opposition is mounting against washington's new proposal for the iran nuclear deal as the u.s. threatens tehran with what it has called they were sanctions ever on monday the

u.s. secretary of state mike pump aoe put forward twelve demands promising on preset dented financial pressure if they are not met. iran must declare a full account of the prior military dimensions of its nuclear program iran must stop enrichment but then support a middle east terrorist group around must also end its military support for the iran must end its threatening behavior against its neighbors we will apply unprecedented financial pressure on the iranian regime the leaders in tehran will have no doubt about our seriousness united states intends to work hard at diplomatic peace of working alongside all of our partners we focus on the europeans . secretary from paris 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. and i'm convinced that over a period of time there will be a broad recognition that the strategy the president trump has laid out is the right one. there is no alternative to the. stomach mine we 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 present we don't want to leave the deal. the iranian president has given a firm response to that him saying the u.s. can't dictate to tehran and that the world will no longer cave in to washington's bullying in this speech america's top diplomat also made a statement in which he appeared to encourage uranium people to question the country's leadership. at the end of the day the iranian people will decide the time line at the end of the day the reigning 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.