in an increasingly large segment of companies those awash in venture capital cash and other private funding instead only the wealthy get to invest and. this is part of the wealth and growing wealth and income gap you mentioned that share buybacks and then the likes of that only the very wealthy are getting to invest in these as more and more is taken private market capitalism. for the public to participate in equity and enjoy the fruits of the collective labor of the wealth of a nation and if those equities are being taken private or they never reach the market through private money then the average person is no longer participating in the equity of their nation the wealth of that nation is being withheld from them and you're rapidly approaching feudal stage of lords and service which is what of course the people in charge like a jeff bezos or a warren buffett desire they don't want active participating politically aware

individuals voting their cronies out of office so this is how they're doing it they're taking all the equity shareholder rights to won't be any shareholders therefore no shareholder rights actually in the next episode will cover another executive at the f.c.c. also said they have to reconsider the share buybacks because they said basically it is plundering america and there doesn't seem to be it doesn't seem to be adding any wealth to america the share buybacks and in fact these executives are just using it as an opportunity to dump their own shares at a higher price. before i was sorry it was low yes as a result of the securities act of thirty three and thirty four in that period and then they brought it back in to enrich a bunch of corrupt c.e.o.'s right well anyway jay clayton says that the fact that there are fewer shares available for the public to buy this is feeding the demand for these i.c.'s by the ordinary and fast. well jay clayton should just basically

follow the law and the security is ok we got to take a break and when we come back more r.j. clayton bashing so don't go away. with this manufactured incentive to public wealth. when the

ruling class is protect themselves. when the final. nor middle of the room see. you. join me every thursday on the alex salmond show and i'll be speaking to guests of the world of politics sports business i'm show business i'll see them. welcome back to the kaiser report i'm max keyser time now to turn to rahm when stone of his then cash around welcome thank you crave for thanks for having me and

great to be here yes great to jab me on the show and then casts is his name often put a rico there was a lot of buzz about it it's a fork of. cash so tell us why or when and then just explain for the audience out there what a fork is i mean if you can do that in a fairly sync way sure so we forked back in may two thousand and seventeen and we forked from z. classic actually and we did that to take these ek snork library and which is for easier knowledge proofs so a fork is basically where. a guitar is cloned and then built upon to create a new project simple is up right ok and so has been going then cash what have you added feature wise so one of the first things we did bull is try our best to implement some level of censorship or systems so distribute our ledger especially as possible through a node network and then on top of the work start to layer encryption so all the

enter node communications are encrypted so i was kind of the first thing we layered on top and we then started developing applications so the first three were messaging up acacia using c.k. snarks silos one to one those ek starts are kind of the specials of software that yeah they're the kind of cool privacy technology that makes a lot of what we've built so far on previous the technology so it gets back to one of the you know z. cache that's their kind of their call to action there it's a privacy and so it's in the same camp as minera right sure you know the privacy but it's kind of like an iterative going and trying to take new technologies and so the other features the. have it the privacy is opt in or opt out it's optional that's what i'm going to say that's the big difference between us and say moneta for example someone had to use a kind of jumbling technique to prevent people when can transactions and addresses together and whereas we have zero knowledge proofs which is optional so you can

transparently sends then or you could do in a shielded way that means that the ledger just has a kind of timestamp so he won't see the sender or receiver and you would see the amount so you know politically speaking now crypto has come on the radar of different governments different regulators different agencies and sometimes they would highlight these privacy coins in the same dash or they'll say. you know an arrow and cash and they kind of you know put them in a different category how are you guys reacting to that and so we're very regularly painted with the kind of evil prophecy coined brush however prophecy is essential to the everyday life and without privacy it be very difficult to do business for a start and in a competitive landscape if your competitor can see the contents of a bank account on the contents of your transactions then you don't have any competitive edge so we're firm believers in what we're doing we're doing it for the right reasons and we're providing in

a kind of clean transparent way providing true privacy in a transparent where there you go censorship resistance is one of the you know the key super important in syria and it's part of the bible of big point of course censorship resistance and immutability and other features of it is what defines it and it didn't have the kind of privacy features that some thought they could improve upon because of course everything is transparently on the block sure so you know you can it's a terrible place to do crime actually because the record of it if that were your intention but censorship or existence of privacy it's hard coded into the constitution of the united states right we have this right we have a human right so in the case of money in the white paper it says the peer to peer network for cash has done. further to an attempt to compete with visa or is it to refer to the attempt to recreate the anonymity of a cash transaction using paper money your thoughts so is both so ultimately we want

to make send cash as usable as physically possible and to do that we need to be told to to as far as transactional throughput goes with likes of visa to really have any kind of mass market impact to make it really useful but we also want to really implement the ability to create transpower creates confidential transactions as well as transparent as such it is maybe both because i mean you know because it has all scaling debate and you know it's slow to scale and then all these old lines came into existence sure because it seems like this is a bit of the missions are at odds with each other it's like you can't have one without the other i know but anyway that's that's the goal right now let's get induce a bit of controversy here so you were hit with a fifty percent attack we were indeed yes this is ben you know talked about in fear in the big going community for years yeah so now you know it's happening so explain to the audience what a fifty one percent track is and talk a little bit what happened and then what was the reaction to so on june the second

we were already monitoring up ok so there are a number of rental cost power sites in circulation to snow the amount of available hosp our for our network was hugely mushroomed because a lot were kind of on high alert so if the talk is where someone controls the majority of the network through that control that able to inject forge limbo walks into the chain by doing that they can effectively do transactions they create on the main chain so the. consensus is that the if two miners find blokes at the same time whoever built builds a block on top of their chain first becomes a legitimate chain so if you can amass enough cash power to do a faster rate than the main that. of any proof of work going on you can effectively attack in that way which is a pretty large vulnerability and it's fundamental to the hasn't been tackled for any real proof or quite anything but coin derived has the same vulnerability if you

like and so things have changed massively. paper everybody was mining on c.p. using small g p u's that it was very decentralized and even a spec can start to grow the capital cost of launching attack would be so big that it the incentives weren't really there yet so put it take a step back put this into perspective so when pickling was launched it was open to a fifty one percent attack if anyone like thought this would mount anything the charm of becoming in the early years was that nobody thought it would be anything exactly is money yeah it's like a magic internet a magic internet money is like we're not even to spend five dollars hacking this thing because it's garbage yeah right so then it but it kept growing and growing in adoption hash passing power kept growing and that's the key to all this stuff is that now you've got big line with how many hashes per second. x. so hash you know that they have to rate new prefixes to describe how many half hour this is the biggest computer ever created ever it is

a massive superconductors like passion every ten minutes right there knock it out these blocks so they can't be attacked at this point because they're too stupid to attack it before but now the cat's out of the bag so that you can look at all these different points and you can say ah. then cash you know further x. number of dollars it makes sense there's an arbitrage where i can rent a bunch of house power i can control the network or i can inject blocks so what did you guys do to deal with this so we're really lucky we've got an amazing team sprung into action immediately parked all through the night alerting all of our partners exchanges merchants to raise the number of confirmations required to receive them. is ensure that somebody can. trolling are controlling the majority of hostile work for three or four hours wouldn't be able to have enough to actually live transactions go through surveys that from twelve to one hundred and not give us a kind of comfort body or to prevent further attacks or a way to build

a feature that automatically increases the number of cons from ations based on some kind of activity on the network there's a million you certainly are yeah so you want to be a consultant and then cash in a moment at this rate welcome but can't can't can't that be built into the system like if you see certain outside influences building the network recognise that in confirmation time to scale to the number of times you would defeat that attack right we're going to tackle it slightly differently so what we're going to sell because i just wanted five i mean i'll be a little bit longer than five seconds i think a better plan of attack for this and so the reason that they were able to execute without us really housing a finger on the pulse and seeing it happen in life was that they were able to mine privately nuts a feature of pick point and it's a feature that's kind of went down to every other corner so we want to try and find a way to prevent people mining in private delaying the broadcast of their blocks and then basically surgically implanting them in chains whenever they want to do it to come to the transactions we're going to have a penalty for delayed block injections and then further down the line we're going

to try and look to leverage our secure node network that could be a huge network of nodes probably how many developers you get a team of fifty three people about half of them are developed and aliza take to put in a fix like that it's going to take us probably a couple of months through the short to mid term solution for the longer term solution of using our nodes as kind of new trees it's probably going to take more like a year that's a really long term fix but they do you licenses out to other kinds of similar problems is not a bug but a feature so we're a fork we do it through the open source community it's right it's open source. well i think it's every it's ok to be licensed it out here tolbert but i think it's a really important thing for not just us but for. the whole proof work ecosystem really these attacks have a huge impact on everything they spread fahd's and it's not good for the industry so it was released in media picks up on and says aha we told you these things are

vulnerable they're not safe and it's begins a whole cycle of dallas again and the industry is pushed back so it is pronounced ra it is the it is relevant i think you are actually the first american to pronounce my name right so does it when you irish i'm scottish oh you're scottish manager we drew level of risk. so ok you get it you get it's act like this is serious business in the crypto business and it is so telling about the culture of zen cache you have to rally around as an organization right in the valley there are certain value is that need to be expressed so talk a little bit about that so we've recently completely professionalized organization we've recognized that the industry is moving really quickly it's an extremely competitive marketplace and in order to really make the most of what we're trying to do here we have to ensure that we're surrounded by the best possible people so we've professionalized in the seven distinct divisions each are headed up by really experienced leaders guys that build businesses from the ground up guys that been in crypto for a very long time so we like to think we kind of have

a rough idea of how to operate and that's what really allowed us to react quickly. preventive measures in place against the attack occurring again but also put a kind of forward thinking plan in place to help the industry as a whole circumvent and eliminate the risk of these fifty one percent tax taking five years from now how many coins are they going to be in existence right now there's like two thousand when five years from now how many will there be that most obviously what i'm getting at is that it's going to be a lot less i think in my view but what do you think i think you're right i think you're right for sure the i.c.l. landscape is a wild west people are through in together really rudimentary white paper documents and raising millions of dollars and a lot of these people don't have the business skills to really do. something without capital this is not a nice yeah this is no and i say i'm just launching it like a mini or a big client a lifeline right here launching down to the wild and there is no i.c.l. you know it's not a it's so funding through the how you funding itself so it's through

a percentage of block works so we have a new white paper that just launched very recently which is changing our block watch slightly so this is on the notes that it's we have new listeners. so we're trying to distribute my part of the mining goes to funding development exactly suite basically the senate at the moment eight and a half percent goes to the foundation pays for events pays for enough. it isn't isn't soon it's always has been a has to be enough we have to make two we have to make sure that we're responsible we have a full five dollars and we're everywhere where it where is it headquartered. decentralized absolutely centralized so i'm in scotland and we've called direct discussed point the todo up in the school board really what should have happened to it to be fair. i added i was on a panel in puerto rico with someone from san cache is a woman ok she was smart you're smart they must be smart group we would like to see

their symbol zandi said. so i should be looking at it absolutely that is my career holding in my crypto portfolio should we send cash for sure without any doubt we're told reality being on the kaiser report you're welcome all right cool that's going to do it for this edition of the kaiser report was made next kaiser stacy herbert like to thank our guest scottish radwan whose last name is stone you think i remember that. if you want to catch us on twitter it's kaiser report intell next time.

f.o.c. clearly. when a loved one is murder it's natural to seek the death penalty for the murder i would prefer and it's meaningless in the death penalty just because i think that's the

fair thing the right thing research shows that for every nine executions one convict just found innocent the idea that we were executing innocent people is terrifying the is just no way that doesn't mean that we're even many of the times families want the death penalty to be abolished the reason we have to keep the get tell here is because that's what murder victims' families what that's going to give them peace that's going to give them justice and we come in and say. not quite you know we've been through this and this isn't the way. to.

oh. i. could ultimately decide who will make it to the playoffs. international the

u.s. and south korea. joint military drills. with your world's top stories on the very latest from the electrifying world cup welcome to the program. in volgograd victory was far from straightforward it took england until the ninety first minute to seal the we're headed by captain herrick a ultimately saving the day of the r.c.t. was joined by star co-hosts peter schmeichel and manchester united boss you know

keeping an eye on that game and monday's other match. they are now you've been watching the first half they have might have a suite in south korea nil nil who's got the upper hand she said i don't think sweden is a favorite to win this match would you expect a tie game then today yes or no i wouldn't be surprised if south korea win so much i. mean on england sneezy the final game tonight in a different group england has the players as a tactical system if you play against an inferior team creates them problems so i think england it has more than enough to win it i.

tell jim to take on what you make of this game then what should we make of panama i would consider them one of the teams that if they get the points what an amazing. what an amazing achievement for bam and if they get the point what. a match this for belgium all humans to lose. to lose two points against one i'm sure i i . i do i. i i. i feel very very happy for the england boys because if

they hadn't got that the next couple of days would have been charitable for them they would have been crucified by the that the british media and i'm not sure that they go completely free because the second half was awful one of the things that of course we've seen in this world cup are the big guns not quite doing it and only did it they labored to a two one win but the got three points on the board that cannot be said for argentina it can't be said for brazil a lot of other teams so when you put that into context it's a good win it's a terry good win because at the end of the day it's all about get three points and set yourself up one man he did do what he was on the field to do was hurricane off . harry kane is in the right spot had simple. caught ninety minutes and thirty seconds to help the team have to know that this is the definition of big

amazing amazing feat amazing experience. i spoke to saw it's a crowded room watching all the games she knows well you never know it's going to go so great to score early and then i really don't know if i'm walking with a tiny awful and it's just about coming down to the lead and i made it difficult i struck him but. it was just that then if there was one thing from the night that we would look back on and and like to do better would be that ruthlessness in front of goal but the pleasing thing for me was that the runs and the movement created those opportunities and if we keep doing that then we will school go very impressive with i'm very impressed with how it came are so. enormous responsibility on his shoulders to not only. all the goals but also lead the team and. i'm saying no he's a by the way kind of behind that if we hear that the drums are starting and they won their game volgograd peter all of our is done there for us peter just when we

fought it was over a last minute winner how delighted i mean when funds where you are belief which is i think as we can now see extended to happiness people a very very pleased certainly england fans very pleased with that when. the largest body of england found the loudest crowd of english fans who is right behind that goal and it's behind that goal we hurricane school that went out and not ninety minutes very good. nods could be good to you i even found. there we go what's it been like hope you found the i was going to hear nothing about. how to show i was told don't bring your phone because they'll tuffy into you i mean you've heard everything. i would say to people to go and find out for yourself you know the politicians we let them get on the do what they could today put their agendas and i just want to come watch football be part of this festival to walk off it russia the movement to want to see an opening

if the fans first say i was really one. good on them is doing well we decided to come and we came in and we just found people to be super friendly brand new stadium fantastic atmosphere fantastic people vocal crowds have decided to seize on something very impressive very loud very vocal and when we do in. our really very sort of throaty to kill those dark no hope for the second coming of the second game play still it is i'm best to look to you and i knew that before the game the hard being that british media reports other media reports about a plague of flies in volgograd which a trend to this from the game for players and also found so like how bad was the during the day. absolutely horrific you know during the day horrible i was swarmed with them i went for a routine this morning and when i washed my when i went in the shower afterwards i think i washed about two or three thousand of them out of my head they died down in the evening thankfully i don't think they played any part in the game but during

the daytime games in boulder they could well be so little child. donna paid not say that's the game in the bag next time paloma get expected to win but then it's all about belgium yeah because belgium didn't start the best but they came out on top white easily in the end they did what i had to do today they beat them three nil yeah ok looks comfortable at the end but but then again belgium are one of the dark horses one of the them maybe favorites to win this tournament people in general think that they have a fantastic squad but it's to the you know it's a long long way to go away but they're looking all right so far three know the win in the bike well in the first five days of this world cup is going fast peter is that five days in that we have seen the big boys fail to impress on the dogs like iceland a run securing some at big scalps on the two million fans who flock to russia to

witness the action well they haven't left disappointed. oh ok. i'm i am oh. i am. any rumors about like russian hooligans or russian hackers

a while in america. russian spy how many people are spying on you right now we'll probably live in dallas and people are watching the film i stuck with just the same old sport that i see in the open champion i. could cope with the stuff as i know better it. was.