i tell you what stop sending tar sands to america and be happy about that because it's extremely dangerous for people so i think justin trudeau did some sort of special tar sands deal just recently as well but nobody pays attention to them because trump is everything right but that's what everybody's paying attention to but i want to turn to another story that i promised we would cover in the last episode i said we were covering this and this is finally s.t.c. frets about share buybacks quote torrent of corporate training dominating the market and short term financial engineering right after the company tells the market the stock is cheap executives overwhelmingly decide to sell that's the headline and this is from wall street dot com but he's talking about an s. e c study and they find that basically all these companies are doing is they announce that they're going to do a share buyback that stocks soaring and you know what happens the insiders dump all their shares five fold increase from the week before they'll start dumping their

shares and they some of them don't even do the share buybacks because they don't have to pay all they are interested in is cashing out so it's. market manipulation stock market manipulation by insiders aided and abetted by regulators like the f.c.c. all the f.c.c. is doing here is. a look up on urban dictionary what that means all they're trying to do is cover their tracks so that when the lawsuits happen they can say oh we were aware of it we warned against it we're on top of it but they are aiding and abetting the regulators or captured the regulators or venal the regulators get payoffs ok they get money from these guys and then they go or they in the form of they leave the government they get a job in the private sector and they get the big payoff it's it's it's highly. corrupt like we've been saying for years and they're taking it all private and what's left is near feudalism tar sands so they and now it's a share buyback. happen and the study found of these like three hundred eighty five

companies that they looked at that had announced the share buybacks they found abnormal returns those thirty days afterward that's when they keep the executive start selling their shares so in fact twice as many companies have insider selling in the days after a buyback announcements on an ordinary day so right after the company tells the market that the stock is cheap executives overwhelmingly decide to sell explained f.c.c. commissioner robert jackson jr appointed by president champ and sworn in earlier this year they tell the market our share price is so cheap that we think the best use of our money is the buy back those shares because they're so cheap well then the executive started dumping it so the same executives he said the share price is cheap to the market are dumping their share. money that they used to buy back their shares on borrowed money from essentially the fed ultimately charges them nothing

to borrow that money so you're literally printing money in the form of the stock option appreciation that goes up as the share price is brought back and you are taking capital out of the economy and then there's nothing left for basic services like health care so you have millions of heroin addicts popping up all over america because it's wrong. guys at the top are just just being all this money out of the economy with the help of the regulators there's you see is a purchase of painting in this in of the problem with script is that they're not paying the f.c.c. enough bribe money hopefully that'll change soon and he points out that this isn't necessarily illegal but he wonders whether or not it's good for america and he says not. too many occasions companies do buybacks have failed to make the long term investments in innovation or their workforce that our economy so badly needs because we at the f.c.c. have not reviewed our rules governing stock buybacks in over a decade i worry whether these rules can protect. workers and communities from the

torrent of corporate trading dominating today's market what's the hold up they haven't reviewed the rules in a decade what do you do if there's five bucks. a claim here's five dollars can can you please rig the market for me greedy little punk they're concerned trolling they're saying hey share executives were a little bit concerned that we might have to regulate you if you don't make it if you stop making it so obvious you know we need more of a more private we're going to regulate you wall street let you do the small bags of money i'm too stupid to get a job at goldman sachs so i had to be a regulator and no you should give it a pretty good one in the regulation so is jay and all the other regulators so then he goes on to say executives often claim that a buyback is the right long term strategy for the company and they're not always wrong but if that's the case they should want to hold the stock over the long run not cash it out once a buyback is announced if corporate managers believe that buybacks are indeed best for the company its workers in this community they should put their money where

their mouth is so that's not going to happen and we've covered that it's obviously corrupt we've pointed it out and perhaps that's why the f.c.c. is saying hey you know executives watch out obviously c.m. d.c. is not covering this fact they're not pointing out that this is corrupt and venal and a special place in hell should be reserved for you just like with sitting alongside justin trudeau you know the kaiser report on r t they're pointing this out and we're going to be in trouble people are complaining to us you know americans all across the country should call the f.c.c. today and let them know that they they are concerned about all the share buybacks and that the company executives are cashing out at the expense of the economy hell doesn't exist anymore because it brought back all the chairs taken private by j. clayton the f.c.c. so it's like you know it's also someone exist in the us there was hell to go with have and capitalism shouldn't exist unless there's a penalty for committing troops so the f.c.c. is saying this is a special economy if you commit massive fraud there's no. crime there's no criminal

prosecution for you as you know the former attorney general of america should hold eric holder these banks are above the law and we question him i asked him this directly in the airport in washington i said do you still grieve that there is no law that applies to bankers. who rule no room for proof. the guy should be flayed bring it. on we're not sure if you are right or left headline in the news and again the theme of this show is there's a special place in hell there's a special place and how for justin trudeau this is a special place in hell for these executives dumping their shares while announcing share buybacks and there's a special place and how you minister is because u.k. security minister proposes digital i.d.'s to enforce online civility ben wallach is theresa may security minister has proposed that the u.k. follow china's example and require that any place providing internet access use

bank account verification to affirmatively identify all the people who use the internet so they can be punished for bullying the minister characterized this as a choice between quote the wild west or civilized society he claimed that forcing people to identify themselves before they speak would end mob rule on the internet so the b.b.c. . they don't have any free speech over there either if you say anything that's against the government they don't broadcast it i know that from experience on the b.b.c. the government reviewed every single word that won over the b.b.c. you get yours there is a here's the current or former al the united kingdom i don't know if they are any more under. because we're a nation of one and here they are saying that we want to we want to copy china we love china's social credit score and we're going to start kicking people off the trains you want to take the train to edinburgh no you can't but i say there i don't know because you know there's a law about how americans are allowed to pronounce right. ok i'm going to say

edinburgh who cares let's see if they bleep that in the u.k. . i mean we left the u.k. because this is disgusting horrible place full of bureaucrats with their mother for a nickel house of parliament the house of commons is doraine pool of idiots that i wouldn't want even to go to hell that we've been going through a special place in hell called being on the internet here in europe because we haven't been here very over a year and a half we've arrived here in every single freaking site you have to keep on clicking yes yes let me see it out on the stoop of privacy stuff like you know we know you track us you know you're following us we know access on the internet they're all tracking you if if you wanted to have privacy the only way to do it is to be like richard stallman and if you've ever seen him use the internet you have to be a freak you have to be a geek you have to know how to do that you can't do it you can't be richard stallman we can all be a bit here we don't want to be kicked off trains and planes and and public services

just because some bureaucrat doesn't like what we're saying what if they don't like what you're saying what if they find it rude that you're pointing out well in fact this article from boeing boeing points out that in the u.k. where libel laws favor the rich and powerful the ability to speak anonymously has been key to uncovering the historic sex abuse scandal and which the most powerful politicians and businessmen in britain were revealed to be rapists who preyed on children women and men with total impunity so if if this law were in effect if they have a chinese sort of system any of those journalists that were pointing out that you know the rich and powerful were preying on these children the jimmy savile's of the world memory took a punk rocker got bleeped by the b.b.c. by the way johnny rotten or said vicious one of those guys pointed out that jimmy savile long ago you point out thirty years ago member when sid vicious was still alive that jimmy savile was a paedophile. and they had they believed it because of these laws but now would sit

vicious have been kicked off public transport for saying that you know all you need to know about the u.k. is that jimmy savile almost became prime minister. that's not sure what he was but actually it was me that way. as a way to becoming an m.p. . prime minister they would have replaced the flag of britain with something to indicate that necrophilia was ok as far as british standards were concerned oh speaking of mispronouncing words or staying at the american way i did go to savile row once and i was asking directions i said this is a seville row. i said it is. right and under the new law you would have been prevented from getting on a train because you. to somebody in a class accent that indicated that they spent a lot of time in oxford oxford or cambridge getting. professors ben wallace again

he said that social media companies should bear the cost of tracking the identities of all their users real name policies have proved to be a boon to authoritarian rulers in cambodia a dictator han son has embraced facebook creating a direct pipeline to facebook's really in compliance team that his government uses to force critics to reveal their real identities and then they torture them and so just say you know this is what the u.k. wants to stop talking about the u.k. makes me puke just to think about the whole why not go to the site when they say hell has a special place it's called the u.k. coming out of the second half of the don't go away.

f o c.

z a says harlan kentucky. employees it was very funny and. a co money city with almost no coal mines left. the jobs are gone all the polarizer said. that it was a lot of these people the survivors of 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 how it's happened.

welcome back to the kaiser report imax keyser time now to turn to henry because of a streamer now first of all henry if i pronounce your last name correctly yeah that was pretty good close yeah right yeah ok fantastic is there a big tech scene and startup scene in finland yeah indeed i don't there's a text saying because you've got some huge tech companies from finland crypt are saying it's an engineering country for sure the streamer project is play based on switzerland because that's kind of on for is a better ecosystem for doing these blog chain projects because we still have a big team of developers in finland so it's a better ecosystem including regulation yeah including regulation is the finnish government's position currently about crypt to they have a position is there much activity there yeah i think they're kind of searching for

their view on things of course finland is part of the e.u. they have to like wait for the you level decisions on things and slowly that will come down to the national legislation and so on and switzerland as not part of the e.u. but still in the middle of europe they can be a little bit more agile in supporting the kind of new technology and creating an environment that can can support that's ok so streamer dot com so it s t r r right. when we were starting out we couldn't afford the domain when we went with version the transit was typing quite trendy this is i think a good way to put it says data done differently what does that mean so what we're doing is we are to changing the way in which people and organizations can share and monetize the data that they're producing for example when you use applications when

you use your mobile phone you are generating data on your behavior that's currently going to big companies who sell it to advertise. yes right the same kind of patterns appear elsewhere as well and we want to change that we want to put the end user back in control of their data so that they could actually earned by using a service or enable an organization that's producing data for example let's say a factory to share their data share their production estimates for example to a nearby power plant who finds that data valuable because they can optimize their operations in preparation for the demand for electricity from the factory or you could say. let's see a smart car a connected car you're driving around doing that your car can measure things from the environment maybe road condition data that's useful to the road thirty's or maybe cell tower signal strength data that's useful to the network operators so why

we while we live our lives and while organizations conduct their businesses they are generating data that's potentially useful to others but this opportunity is not being utilized today in any way organizations are keeping the data in a silo but by doing so they're also placing the lead on the value of the data and there's no sharing happening at the moment because it's too difficult for their statement and you react to the statement data is the new oil yeah that's very accurate in many ways because it needs to be transported needs to be refined to be used as an end product and also need to be transported there's a long chain of things that need to happen before it's useful and streamer is a kind of a platform for refining the role. to something that's valuable to an end customer ok so data is a hot topic particularly in political terms because we've got

a big scandal with a company called cambridge analytic right they. scrape data from social media platforms and they're misusing the data it's being alleged that this data was used to. reagan election in america and twenty sixteen except so how do you deal with the fact that at the moment data got a p.r. problem that you know if i can put it in those terms yeah you can and i'd like to make that more specific centralized data as a p.r. problem right it's something that's out of control the enduser people are giving away their data for free to facebook and other big companies google who are kind of taking advantage for that but of course that's their business model that is actually the current and only business model of free services on the internet could that be changed could we put the person the source of the data back in control so

that they could decide who gets access to the data how it gets monetized maybe they earn a share off that all this is possible with technology but it hasn't been possible in the previous generation products here is a question which you probably don't know the answer to this question but i'll ask the question anyway you know it's been estimated that the value of a human being if you were to sell the organs in the liver the kidney the brain to harvest the organs it's worth something like two hundred bucks i mean the kidney now is worth more so let's say it's two hundred forty bucks you know the the break up value of a human yeah as anyone done analysis or study to which the data because your data is like i'm driving that's data i'm interacting with larry for. data because a refrigerator is a source refrigerator and all that data is there any estimate about how much value

potentially my data body is generating. comment on that i guess yeah i haven't thought about that i mean is probably more than the value of your organs for sure i mean not just what you want your bodies generating but only your actions what they are the products you use the car you drive where you drive everything that can be measured all the actions of a human being combined is certainly worth much more than two hundred bucks ok so year over there streamer so i wouldn't take it that you are trying to create a firewall between individual data in the world yeah so that i have possession and control of my data things actually go right now everything is held together with my skin if i my skin was gone i would be a just birth gurgling burgling pile of organs and blood implies my right so he created data firewall and i am generating that i cannot help but generate data

because i interact with the world right so that you are protecting me or not protecting me protect his person like any particularly you are you are aiding i am saving my data that firewall is called encryption basically and what we can do in the streamer network is have to ending crippen so when you produce the data gets encrypted you control who can access that you might sell that access for a fee ride like you you pay me you get access to my data this can happen at scale where as a user is a free device like a phone for example millions of people could put their data into this the same pool what happens to companies like facebook that rely on free data there is their business model challenge that yeah it is for sure maybe there will be alternatives what if there was a like facebook facebook two point zero that allows their users to earn money by using that software i mean that would be amazing probably people would actually actually switch over or if you're buying a phone there's two phones one of them allows you to earn money by using the phone

and the other one is just a regular phone which one do you buy. if there are otherwise similar course you buy the one that enables you that empowers you to control your data and monetize your data in northern europe which then let us part of they have like mixed economies socialist capitalism is kind of a mix right to be at least now with a capital like socialism. so but the states pretty big in the states get a lot of benefits up there in northern europe education health it's like a real nice place because you can't be left on the street because you just happen to break your arm you're not going to be abandoned by society and started like in america they've got a whole leper colony forty million in a leper colony in san francisco now it's amazing but the point of my question is that they comes back to something called universal basic income fact is everyone is

valuable their data yeah right so let's say i don't work but if i can still enjoy i'm still data rich and if i can if i get a thousand or two thousand a month just my encrypted data and selling it selectively isn't that kind of a similar idea yeah there could be states or governments where. citizens are offered a basic income based on the data that they generate ok so what is your insurer if it would be enough for a living right could there be professional data generator could there be i think not i think it wouldn't be enough for for a decent living in ok what streamer is kind of like in that business so it definitely works on the individual level right so individuals are your users. machines as well i mean this enables machine to machine. robot uprising short story. care about humans to. the anti-human humans or

trans in time we will be replaced by brits or. take some time it will take some time. for a second that humans had a future ok fair enough fair enough make that assumption ok so you say it's for individuals and corporations and so for example there's a huge corporation and i have ten thousand employees. that were on my going in the right path i mean so we're not it's not really about the employees i mean organizations as organizations conduct. as part of the business they do they collect data they generate data they make measurements of the environment and there are satellites circling the earth and measuring how many cars there are on a parking lot right and this data is valuable to. some traders who are speculating on the stock price and so on so. the imagination of

the data collectors is the limit of what kind of use case he's can emerge if we enable this free for all no one taking it is human data and secondary human data center lowers i drive my car into a parking lot and i walk away but a satellites capturing that data about the car that's not the primary data from him and that's the signal there it's a tertiary activity of the generator side right right it's a byproduct of me as a yeah so the organization collects all this car is aisha's an environmental organization they want to track cars they can track the cars and then that's the organization organizational level enterprise level collection of data to think about kind of crowd sourcing of data for example an individual could host a pollution sensor on the roof of their of their house right and some of that data as part of. a larger group of people doing the same to an organization maybe

a smart city and some maybe a whole health organization interested in how much pollution there is in the air. put out monica stick a monitor in my arm that tracks like glucose levels you know maybe i can sell that data yeah you can sell that to medical company maybe you could share is out to your doctor frankenweenie because you're incentivized to do so right so there's almost a limit to data collection is there we only have a. million of us few seconds left but is there any risk that the data would feel the robot uprising i mean or just playing into their hands are you i mean if that's what they're looking for it's the only refinery chain the same thing as can participate in this change by making the data more valuable than i will assume the best case scenario we have to go henry because streamer thank you thank you very much right that's going to do it for this edition of the kaiser report with me max

kaiser stacy or i would like to thank our guests entering a stream or going to catch us on twitter it's kaiser report and so next time. she should be good it was because. she. has. seen.

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second so do your part business program interactive exhibition urban festival details on possible forum dot com. this is all she and our special coverage of the biggest football events of the year the twenty eighth seed. curry's taking on problems in a critical group c. clash right now when you catch a bird for a chance to book their places in the no pants stage the first game of the day full source trailer a bottle poised against denmark it wasn't without will control me so not to do this is the referees a bit like marmite is that i looked like oh yeah you said this but though despite that i found was still in full policy mode.