and allegedly because you know the british people make you say allegedly before everything regulators but in fact h.s.b.c. has admitted it they admitted it to eric holder and they paid them a couple billion dollars that paid the u.s. taxpayer somebody i don't know where that money went where do those fines go anyway like. fell out of the ground out there. have they gone ages b.c. to commit their fraud they want to be walking the streets of london and shopping and yes you know if you're going to be a shady i.c.a.o. is sure you should do it through london because it actually was a way to do it the way they do but the thing i want to bring out here it was not this has been a big topic at money conference krypto comp was these i c.e.o.'s and whether or not the f.c.c. is going to go after them but the f.c.c. chairman said something very interesting that he agreed with exactly what max keiser has said about what is wrong with the u.s. public markets it goes on to say clayton also expressed concern about the health of the public u.s. stock market as hot startups like technologies keep their shares off public markets

he noted that the general public is unable to invest 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 a futile stage of lords and. service which is what of course the people in charge

like a jeff bezos or a warren buffett desire they 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 the 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 they said basically it is plundering america and there doesn't seem to be 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 a 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 investor clinton should just basically follow the law in the securities hey we've got to take a break when we come back more jay clinton bashing so don't go away. join me every thursday on the alex salmond sure and i'll be speaking to us from the world of politics sport i'm sure business i'll see you. get a phone no i don't have one was the last time that you went on the internet no i am not using to meet these village is it safe it is. a sure there is no extra music

ters there they are all going to be sure the baby does a class here sort of. who want to see were killed and we thought he is dead as part of that was a given piece. of work i was. previously yes and no they are being false form of where he is from the member of the society. they have.

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 the easy case nork library and which is for zero knowledge proofs so a fork is basically where. a guitar is cloned and then built upon to create a new project simple as up right ok and so how's it been going then cash what have you added feature wise so one of the first things we did bowl is try our best to

implement some level of censorship resistance 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 musings the case narcs silos one to one those ek starts are kind of the specials of software that yeah they're the kind of core 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 kohain and trying to think new technologies and so the other features the. 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 sen's then or you could do in a shielded way that means that the ledger just has a kind of timestamp she 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 picked 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 so 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 how you know you can it's a terrible place to do crime actually a 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 that. further to an attempt to compete with visa or used 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 too 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 create confidential transactions as well as transparency which 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 pickling 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 our block chain 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 it is where someone controls the majority of the network through that control that able to inject forge limbaugh walks into the chain by doing that they can effectively undo 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. any proof of work going on you can effectively attack in that way which is a pretty large vulnerability and it's

a fundamental to the hasn't been tackled for any real proof or quite anything but going to arrive has the same vulnerability if you like and things have changed massively. paper everybody was mining on c.p. using small g.p. use that it was very decentralized and even start to groove the capital cost of launching an 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 because i mean 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 going with how many hashes per second right yeah xcel hash

you know 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 coins 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 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 worked all through the night alerting all of our partners exchanges merchants to raise the number of confirmations required to receive that. 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 knott's 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 the blocks and

then basically surgically implanting them in chains whenever they want to do it to come to the transactions so we're going to have a walk penalty for delayed block injections and then further down the line we're going to try and look to leverage our secure node network and have a huge network of helpers to 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 license is out to other clients a 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 against the license 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 a race to media picks up on and says aha we told you these things are vulnerable and they're not safe and it's begins a whole cycle of dallas again and the industry is pushed back so then it spreads around it is it is relevant i think you're actually the first american to pronounce my name right so does it legal 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 it is so tell me about the culture it's on cash so you have to rally around it 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 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 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 take a 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 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.a.o. 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 with that capital this is not an. this is not an isolated just launching it like an arrow or a big client. 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 might one of the whining goes to funding development exactly so basically it's a senate leaders at the moment eight and a half percent goes to the foundation pays for events pays for enough. isn't isn't . it's always has been has to be enough we have to make do 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 discuss point. in the skull going really what should happen 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 there must be smart group like this is there some bill zandi says. so i should be looking at it absolutely that is my career holding in my crypto portfolio i should resent cash for sure without any doubt. being on the kaiser report you're welcome girl that's going to do it for this edition of the kaiser point was made nice guys are stacey her would 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 until next time. after three years of conflict it has been estimated that out of a population of twenty seven point four million twenty two point two million people in yemen are in need of humanitarian assistance so why are the u.s. and u.k.

so committed to the saudi u.a.e. war. this is harlan kentucky. boyce watkins st fanny's. a co money city with the most no co mines left. the jobs are gone all the coal miners are said damn that's. love to see these people are survivors of a world disappearing before their eyes. i remember thinking when i was younger that if anything ever happened to the coal mines here that it would become a ghost town but i never thought in a million years i would see that and it's happening it's happened.

during his years serving his region is chief executioner jerry would hear inmates swear they were innocent. when you hear a person going to his death be sticking out that he was innocent to the last so rain's going to his body he's taken out that he was innocent on his last words as last. and give me something to think about as the execution and it place some doubt. there was one young man in particular washington jr. he was trying to tell society back then that he was innocent to get no one really paid no attention to. the one nine hundred eighty three earl was arrested in culpepper virginia and brought in for questioning he thought it was for a burglary he had committed to use all the question of the by different.

will use it and i. they than no i want to call. them out which call captain michael. was going to head to death panel. after intense questioning police officers extracted a confession from her for the brutal rape and stabbing murder of a one thousand year old mother of three. at his trial experts testified that earle had an i.q. of only sixty nine and was extremely suggestible casting doubt on his confession. despite inconclusive evidence the jury found guilty and the judge sentenced him to death. he was taken to mecklenburg a supermax prison in virginia. he was scared to death he was

tempted he didn't want to come out of so. he's mentally retarded he couldn't read he couldn't write i walked in to the cell and canadian thing mangled dorcas it was you. that was earl the whole time he was on the road he was. scared to have it. out as they were for me my mom did again see a problem a swimsuit. a movie was a date to see the mom would i be. two weeks before earl's date of execution the guards came to transport him to the death house in richmond. a charity mob put him in a way say in handcuffs shackles and they walked him out. literally drug him out and everybody's banging on the door for that the cost of the guards. joe

reached out to his caseworker meridians to see if anything could be done. i called mary in a panic as i was. i don't know if this guy did or not but i don't think he did i'll bet this guy knows what's going on when early arrived at the death house he was handed over to jerry i received earl from mecum ber and when he came in i gave him a good turn into the infirmary he was given a complete physical. at that time we only had. death by electrocution chair so he didn't have a choice you could her you know you had led to the one through to your home and in the day put all we got was the he said he was getting really from. what i have been. and that became mother will no longer want me to go i go again

knowing oh no way. working day and night joe and marie secured a rare stay of execution. marie was convinced that earl had been pressured into falsely confessing my work with mentally retarded defendants made me know that this was a what we would call a coerced confession whether it was course psychologically or some other did you kill that woman no. but you told the police that you did. yes why did you tell the police that you did it. oh no no no no you understand then that you were being. accused of a murder. they didn't understand most. new d.n.a. tests proved earl was not the murderer he was moved off death row but he remained in prison for ginia law at the time did not allow the introduction of new evidence

. gerry heard little about what happened to earl his focus was on preparing for the next execution. one year after the boston marathon bombing a memorial service brought everyone together for the first time. when we walked. down the road to the site. ron and i and christie stopped at each site and said a prayer. a week later karen and ron united with survivors at the two thousand and fourteen boston marathon. they cheered their friend celeste in a symbolic run across the finish line. i

am angry at what he did and when i see my friends and they struggle and i see other survivors. i don't want my decision to be based on how angry i get in those instances. that paul judge will tool announced the trial would be held in boston. and we have two choices we can either let him stay alive and have his interaction and have his joys. or put him to death and have that be the end of it. they don't get to see their little boy playing baseball anymore or reading him a story at night and in this young man is in jail and he's reading stories that he likes he's got books available to him that he enjoys or he meets with his sisters

and gets to see pictures of their children growing up and i just don't think it's fair that they have had their their joys taken away from them and he still is able to experience that. care and decided to attend the trial. i want to be there to see. justice. in philadelphia nearly four years after vicki instils daughter shannon was murdered the police got a lead. in two thousand would there been a series of assaults started to your place of fort collins colorado they put out a report to police agencies all across the new united states. so they sent

from shannon's case to fort coord. the d.n.a. was a match. the suspect was married in. employed at an air force base. about eight o'clock that twenty third day of april. two thousand and two this fellow and his wife walked into the police station and by midnight that night they had a full confession for the bisan different cases. the man they arrested was twenty nine year old troy graves philadelphia's elusive center city rapist graves was accused of multiple counts of sexual assault and one count of murder in the death of shannon schieber. the prosecutor was district attorney lynn abraham. the prosecutor in the city of philadelphia who is known as a pretty deadly d.a. in other words she put more people on death row then any other prosecutor in

pennsylvania and probably any large number around the country. graves was found guilty and the district attorney wanted the death penalty but the she bers did not . it meant they would have to fight for the life of their daughter's killer we had said to each other and consulted with our very large families that what we do if they ever caught a ball we would stick to our principles and off someone was going to want to put to death we were going to argue for a life without the possibility of parole. the district attorney voiced her disagreement and outrage. the district attorney there became very very upset she became very public with her and with her opinion and she said i don't care what the schieber said the death penalty was the appropriate sentence for their daughter's murder. why would they not want. for vicky instilled the answer was clear. we just can't let this anger this natural

human anger and pain overwhelm us and make us so then full and hateful because it would just over time destroy us and we know that. vicki and still received piles of hate mail the cues in them of not loving their daughter. you know if you can't stand by your principles when it's difficult they're not your principles. several years past before jerry learned that washington was not guilty. it had to be like fifteen or twenty executions at that girl was it leads from death row that i found out that he was he was innocent as it were out as best as a close call and you know he came up.