you live so americans are spending a lot more than other competitor nations on health care and living a lot last longer that doesn't look good that's financialization as well i think life expectancy is overrated you know america is a nation of goldfish you know goldfish will eat all the food you give them until they kill themselves if you go to san francisco and you see people living the american dream shooting up smack on the sidewalk going to see the needles everywhere dying in the street that's the american dream that's the american goldfish fulfilling the promise of the leveraged buyout to take all future revenue and earnings for the next fifty to one hundred years and compress it to one year and then extracted by the leveraged buyout of the private equity firm so warren buffett has killed like a hundred years of american history by taking all that revenue then job creation for one hundred years and compressing it through a leveraged buyout into the present day and then extracting that for himself so

that's the very apotheosis of narcissism he's king narcisse in this in this bone fire of discussed in fact a tom wolfe reference by the way who passed away recently rest in peace tom wolfe fantastic writer part of the new journalism school in america when america was great so part of what the new york times piece looking at this data finds is that since the one nine hundred eighty s. and i think it's part of financialization and the rise of these runty ace they just extract equity at that built by previous generations built by say apple extract all the equity from their company now built a company built by steve jobs and his innovation and his ideas well here we have the same thing is they we were equal to our you know other competitor developing developed nations at the time and then what happened is the rise of. basically like vast bureaucracies you would. i 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 meeting 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. 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 ill gotten gains ok more coming your way after the break do not go away.

what politicians to do something to. put themselves on the line. to get accepted or rejected. so if you want to be president i'm sure. most somewhat want to be honest . it's a going to be for us as a white woman for freedom on people. i'm interested always in the laws of how. things should. be fifty years ago pregnant women to come together as a sleeping pill that does this is what i believe because the truth does said this thought the side effects what terrible but not on the road as shown in dutch one troubled love more to hear not the war then boom boom left across europe

victims are starting legal battles demanding at least some compensation in something in two ways first will the physical times itself as well that the consumer mind that the people who actually put the take this crime has never been able to justice and that has been the cause of. the. welcome back to the kaiser report i'm max keyser 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 him 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 because by the way my first foray into bitcoin was because of a guy called max geyser 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 at once 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 pitched the company to me basically a debt 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 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 blood same 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 meets central bank so that right there is kind of a loaded statement because blah chain a big coin 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 going to feel is central 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 as a fund has said before there are currency union that trades across eight different countries there's a central banks know there and there's one central bank that that shows a country and what does that refer to itself as the central bank in central eastern

caribbean and so that i don't think it's there's seven or eight of the smaller islands in there they have been more open in the situation like that you have where somebody in st kitts wants to pay somebody and. 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 raise enough of it or is it because it's just that there are these sort of structures not 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. be the g.d.p. second you see c b i can speak to footprint of that 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 it was a 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 and i think 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 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 a 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 the for the hard things aren't paid to the dollars 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 them and 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 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 your 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 what does year goal like how would you like to see that evolve will educate is the first thing because right now this 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 austria and russia 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 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 competitor 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 it's just. 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 with naked 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 moot best the only way it reaches the end it's like jamie dimon is 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 been warned by him stop or crimestoppers

a lot of moms and their ability to know they're the most dangerous people they can lead to live on an airplane i think monger buffet financial jihad the truth then what is your that's what they do so they watch your show down there are lots. of 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 this be a take the shorts and a string bikini we got to go it's already so it's already time it will be good peter george thanks for being on the kaiser of course a 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. have been saying the numbers mean something the matter to us is over one trillion

dollars and. more than ten point. five percent will be to the old rich. six percent markets thirty percent one of your. some with four hundred to five hundred trees per circuit first second and bitcoin rose to twenty thousand dollars. china's building two point one billion dollars. but don't let the numbers overwhelm. the only numbers you need remember it was one of those you can't afford to miss the one and only boom but. we've all gotten used to it the media hates trump and the president returns the favor in kind how is this mutually charged hate fest changed media and journalism does some corporate liberal media report the news anymore and is turning a big profession in the service of partisanship.

cost dad taught next month's planned meeting with north korea's kim jong il saying this story talks maybe didn't. take place at all. we are working on something and you know there's a chance that it'll work out there's a chance there's a very substantial chance that it won't work at. least. coming up this is the scene just a few hours ago protests against government reforms turning violent in paris with demonstrators clashing with police there were a number of injuries for. the british government splay. was to give the grenfell fire a public inquiry is now only getting underway into why seventy two lost their lives

in the london. i don't think they're doing enough but the government haven't done enough not nearly enough no that's not enough so as i can see. good morning just after one am here in moscow you're watching r t live with me kevin ali first donald trump says his much anticipated summit with north korea on the twelfth of june might be delayed his comment came during a meeting with the south korean president in washington both sides had also previously floated the possibility of maybe even walking away from the talks samir a carna washington d.c. correspondent reports. well according to trump the summit could take place or it might not even take place but the president has never really been one hundred percent sure we are working on something and you know there's a chance that it'll work out there's a chance it's a very substantial chance that it won't work out that doesn't mean it won't work

out over a period of time but it may not work out for june twelfth i think it will be very successful but as i always say who knows what's going to happen you know i often say who knows who knows but you know it all works they give you everything to be scuttled everything can be settled but speaking of mixed messages on one hand a special coin is being produced just ahead of the summit a depicting the two leaders meeting and all smiles then there's trouble guaranteeing him safety and promising that north korea will be a rich country he will be safe he will be happy his country will be rich but then on the other hand tribes threatening the libya scenario the model if you look at that model with gadhafi that was a total decimation we went in there to beat him now that model would take place if we don't make a deal most likely but let's quickly remind ourselves what happened in libya in two thousand and three gadhafi renounced his nuclear program but despite that he was

overthrown in a nato led campaign years later so not a fairy tale ending for gadhafi but it's not just rhetoric that could be jeopardizing diplomacy there's also joint military drills being held between the u.s. and south korea on north korea's doorstep but thankfully some are questioning the need to provoke young yang especially considering the historic meeting that took place last month between the north and south and this also comes at a very special time just as the u.s. is going back on its word to adhere to the iran deal pulling out of it entirely so i'm sure that north korea is taking all of these factors into consideration before agreeing to deal with the u.s. daniel mcadams who rumpole peace institute told me the rhetoric coming from washington is likely though to be unsettling for pyongyang. well it is interesting to see how trump and this is top advisor seem to be at odds with each other i don't know because management style is to create chaos and so you have some order comes

from it or what in fact may be his style problem is that washington confuses the idea of negotiation with the idea of surrender the meeting for trump and kim in singapore should have been the beginning of a dialogue of a process instead john bolton others have laid down the law here's what you've got to do i think bolton said tell us where we should send our planes to pick up your stuff and take it away you know so it's the whole idea is that you you immediately surrender and we give you they promise is in the future of making you very very rich i mean if i would north korea particularly watching it how the u.s. tour of iran agreement i would leave if you have any mind at all or you would be very very skeptical well for now anyway north korea is gearing up to dismantle a nuclear test site located in the remote northeast the country is the only no nuclear site that been six tests this is two thousand and six not content of this morning r t is one of the few news channels have actually been invited along to witness the destruction of that site on route there

a correspondent he goes down of. now it took us about two hours to get here from beijing that's where we got our visas that's where we got our plane tickets as we took a regular charter flights into north korea not many people on board only twenty journalists or so were invited many more wanted to come but well couldn't right now we're in the city over once and it's a south eastern city in north korea and it is a resort site the test site that is set to be dismantled it is lays some six hundred kilometers away from here and we will be taking an eleven hour train to get there and then we will be riding for four more hours by car and hiking for another hour but we're being told that the spectacle is well worth it the whole site will be razed to the ground technical buildings reduced to rubble tunnels in the mountains also blown up right now we don't know when this stripper when this is

going to happen exactly but definitely in the upcoming days. to speak turning to spring of discontent in france fresh protests earlier in paris against president across social and economic reforms the turned violent to do bensky early witnessed how a peaceful rally descended in just a matter of minutes. the crowd is swelling here in paris this is just one of the around a hundred and thirty demonstrations taking place at cross fronts. coldblooded old bugger they've been joined by one of the main ninety unions who votes which represents a life point seven million people across the country as you can see the police here they're forming long lines in paris trying to stop some people from moving forward towards those crowds but really in the last ten or fifteen minutes or so this protest which was entirely peaceful has a chilling for the worst. it. was just cool to see in the

middle of clashes between the police and the protesters the police have come and pushed the protesters back you might be able to see the crowds about one hundred fifty meters away from. the dance if massive confrontations between the police and protesters would start to go with the protests this smashing up shops as you might have seen that snatching up bus stops the police responding to gas a week of kuta in that c.v.s. . car we've also seen some demonstrators who appeared to have been injured there was one man just sitting down a few moments ago with a blood a poor ring down his head the police are in the middle of this action now where they're all skinny as she moved away who told.

me that. you know i knew he was getting involved to represent about five point seven million workers here in front but again that idea of voicing their concerns on the streets has been hijacked once more by the violence that we've seen. the small number of protests is. almost a year on from the grenfell fire in london in which seventy two died a public inquiry is officially been launched it opened with emotional testimony from victims' families and survivors one spoke of how his son was stillborn just hours after the tragedy these be where you may find some of the following video upsetting to watch the child mustn't say to. hoping it's all a battery oh gosh. she's made of the hardest the serial. killer

first read the code so what we have. more survivors will give their accounts over the next week or so the probe will then look at the wider issues like the government's response time and preventative actions that era chewed has been to meet locals who say they are frustrated at how

little has changed. 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 a hundred of tower blocks in london alone similar to grandchild 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 it was just in between when. it just costs us praise and just thinking this is cheap material why would you risk the lives of so many people and see this food comes in the street. so we.