content was also approved this has to go to a larger vote sometime in july but just say now that they're looking to destroy the means user generated content and even linking to contests well you know there's a fantastic series of videos on the web gold everything has a remit and it makes the point that everything is derived from something goes back to the beginning of time the beginning of consciousness the beginning of humanity is our birthright to think and do use the thoughts that are come before us to create build on to say no we're going to draw a line in twenty eighteen and everything henceforth as ours it's ours and everything from twenty or to the beginning of humanity is not yours it's ours that's hours ago that is just pure unadulterated uncut greed it's a lot of me is performing a lot of humanity for the sake of corporate germany and it's disgusting and these people should be held accountable for this tragic aggression of by human rights of course you need to have access to your own thoughts so of course the world cup has been going on and by the way i did see some sort of spanish speaking television presenter when mexico beat germany the that's my cousin.

yes of course for me it's my technique that's now spread oh well you know everyone's into it you know i did learn something and if you go to five thirty eight dot com they have a good interpretation of lionel messi because you know lionel messi famously always messes up on his penalty shots but he famously walks over time and like everybody else in the soccer field they run and how do i know that that that is possible he's like one of the greatest players in the last decade or two yes and he walks all the time where everybody runs and yet they've actually done a study where they show that he occupies the space better than most people who goes where the play is about to be used to win gretzky a football lionel messi true genius true and rinaldo they dominate the twenty first century who's better no one but i used to play soccer as it's called in america when i was a kid but i had to run too much and i thought this. this game this is the board is

the match of the pitch for de chess of course they trade war with china is heating up it's actually seems to be getting worse and worse between trump keeps on you know setting trade policy for tweet i wrote something about this for our team dot com and i interpreted the entire trade war situation and i gave my view if you were to understand what's happening if you were to look at it as trump sees it you have to get into trump's mind dunder stan exactly what's going on. to go to that might just blown things snacks well you can just go in there and see what he sees and to give a quick synopsis basically when he came off as he said look the military is half of the tax revenue one point five trillion we got to cut that he looked at the big geo political war board he said gave make peace the korea cut back they're destroying nato cut back there have saudi arabia israel become friends cut back their it's all military cuts and then from there he will begin to. downsize the pentagon and then

china will try to for tat but of course they can't because it means they'll go into freefall and complete collapse then they will have to start to underprice against other currencies to export their way out of that recession are about to begin to i'm not sure about that because that fact they're very strong signs that the u.s. military is expanding their presence around china and surrounding china but we'll get to that in another episode sometime in the future kaiser report about why max keiser is interpretation is wrong is a big challenge so i am going to me i'm going to say that we were also data monaco and we were quite shocked because you had lived down in the area from some air for like three four years i had lived there for about a year it was remarkable to see the amount of construction going on there so i did a google search to find out what is going on with monaco because our suspicion was that this is the result we hadn't really been down there since the financial crisis post. financial crisis and we had an inkling that perhaps this is because of the

central banks these this is e.c.b. this is u.s. federal reserve this is all the money printing that is going on this is what we're seeing is the euro the explosion of the billionaire and the ultra high net worth individuals well monaco builds into the med to house the new throng of super rich construction has begun on a two billion dollars scheme to reclaim land from the sea around monaco so that more luxury apartments can be built for the thousands of extra millionaires expected to move into the principality in the next ten years nearly thirty five in every one hundred monicker residents are millionaires and more of the global super-rich want to join them around two thousand seven hundred more are expected to call monaco home by two thousand and twenty six according to research by the estate agent knight frank take the total to sixteen thousand one hundred out of a total population of under thirty eight thousand you see near of quite clearly going back to the financial crisis as you mention so when you had. athens in agrees

collapse and you had double go through a huge crisis and now you have italy collapsing and you have the e.c.b. bailing out the creditor banks not the debtors but the creditors the creditors take that money and they put it right into monaco that's where the money goes it doesn't go for example grace is still in freefall greece is still a basket case praises of as a lost cause a lost country italy is about to crash because the money is being printed and these to be printed trillions of euros it doesn't go to help these economies it goes to monaco it goes to the people in monaco and it goes the twenty one twenty two trillion dollars estimated offshore money as matters for these people that get all the free money from the central bank so you see it the manifestation of it in monaco well the more they print money that goes to the very very elite the more the faster they need to print because the thing is that when they if they were down that that quantitative easing for the people for example keane has suggested is is that. would have kept on circulating within the economy and perhaps created

a lot of inflation well here they're causing deflation because it's being sucked out of our economies they're handing their printing money handing it to these billionaire class and they're going somewhere where they don't have to pay taxes and mingle with an ordinary people well i'm glad people are coming around to my point of view the money printing that's been going on since two thousand and eight has caused the flay ssion not inflation and you see that because there's been no wage growth that would be inflation you see deflation in that you see the concentration of the ultra rich in one place called monaco and that's exactly what's been going on so prince albert has approved this extensions two billion dollars as an officer urban extension project it's just six tech tears to billiken dollars for that the property on it will sell for one hundred thousand dollars per square meter so it's called the port a cove ecological neighborhood well it's you know it's a petting zoo for billionaires in monaco and the trees have microphones so they're

all monitoring every single thing you say every single step you take everything you possibly can communicate in that prince of paluxy is called is monitored by the government very very closely they don't care because they are part of the casino girl like they are the they are the house and the casino girl like literally they have monte carlo you know here's a little picture of the best the port that's where they extended it that's in two thousand and two the last extension work they did in monaco and that's where they bring in the huge ships but up here is monte carlo the casino and this is the bit they're going to be building right there you can see right here it is filled greens yeah you know phil graham a billion dollars out of arcadia alliterative company up of debt and then they got into financial trouble exactly as we predicted that he took the billion for his wife they in monaco he lives on a yacht but that's just not to say philip green is is more or less any much of a shimada than any of these other billionaires and live on the yachts of this particular piece of real estate is just a card you know the garden variety. mark and so the article also finally before i

move on to the next final headline here they did say that this was this finally got the green light they had a green light before but the financial crisis caused them to retreat so that for a while there was an equal impact globally in fact the wealthiest got hit the most and the beginning in two thousand and eight two thousand and nine during the financial crisis but as we've seen that the bottom is still where they wore in two thousand in two thousand and the wealthy class are way up here because of all the money was the difference is that if i have a portfolio is worth a billion dollars even a hundred million or fifty million and it's like fifty percent markdown i can call of x. y. z. and paul saying are any regulator and say i'm down fifty million or a hundred billion placed on that's me right now lend it to may work your way through a huge dark market rally and then pay that off gradually but you never saw for one single day where you losing a penny that's only for anyone who's a below the fifty million dollar line as a just b. c. as proven well i mean these were the titans of industry these were the bankers

these were the guys selling bonds and what they saw is that yes the entire financial system collapsed and the politicians are just politicians right most of them are not like trump they're not billionaires right they're not from that class of people most of them are just ordinary people who bureaucrats for you know wealthy bureaucrats for the last decades and then they thought they were going to help the economy but i think these guys just did iran or they knew like if they're if they're willing to give us some money let's just take it run because we've collapsed the economy in a sense or coming back but of course during two thousand and eight to two thousand and nine is when i came about and i know you're going to be interviewing simon dixon in the second half so i wanted to get this final headline here the f.c.c. will leave good i c o's alone william headman the director of the division of corp finance at the securities and exchange commission gave a smart new want speech yesterday which was the fourteenth of june declaring the ether the cryptocurrency of the ether. mariyam network is not

a security and so is not subject to the requirements of u.s. securities law he said quote putting aside the fund raising that accompanied their creation of ether based on my understanding of the present state of ether the a theory network and its decentralized structure current offers and sales of ether are not securities transactions and as with bitcoin applying the disclosure regime of the federal securities laws to current transactions an ether would seem to add little value but so as you see showing their hands that they're completely pliable when it comes to applying the law securities laws of thirty three thirty four so they are now you know bendable that is a testament to how many people on wall street are participating in either you know this guy who made two hundred million dollars trading ether you know grab novogratz right he's a wall street guy is a made man so they call of no gas and then you get his opinion he's like no all of do it this way and had it come earlier it would have a different outcome but because are now in bed in the system in the right guys are

making money well they change the law accordingly as i've said many many times the f.c.c. changes laws per what the bankers want well you'll talk to simon watt about it but actually he says some interesting stuff and he agrees that you can raise money as a security for something that changes i you raise money for a decentralized platform and this is a new business model that hasn't been used before in america and he agrees then and then becomes not of security once it's a decentralized platform so he did say you know a theory and was a security he did point that out that it was the security the way they launched themselves but now it's basically too late the years have gone by and it's like it's not worth proceeding at this moment because it's no longer a security deposit they raised money against the purity laws of thirty three and thirty four this and the f.c.c. has come out and said we're pliable ok that's their choice all right well we're going to take a break and all of a. come back it'll be

a simon thanks don't go away. remember when the political left stood up for free speech and equality for all in public life remember when the mainstream media called for the same tone and tenor of political discourse appears to be a turning point if you don't agree with the left you face insults harassment and even.

fear. of the swiss alps this is a place probably more secretive than the pentagon more mysterious than the cia. fort knox. swiss customs are here permanently all the science is controlled by them

and they impose the opening times so if. it is from stop us the procedures in place of the strictest in all europe must to pieces by artists like pecan so and modigliani i can't boards and sold inside this warehouse that's where the report comes in if it covers up deals which are naturally discrete commercially discrete steps but also discrete because they concern fraud. some of those paintings are linked to dark secrets nobody knows how many of these secrets they kept inside the geneva freeport surplus you'll never obtain an inventory of all the works in the freeport who knows how many there are three hundred three thousand three hundred thousand is it a matter of confidentiality only is it the world's black box of the art business.

welcome back to the kaiser report imax guys are time now to go to the isle of man and speak with simon dixon of bank to the future simon dixon a lot of back hey max thanks for having me already let's get into some heavy duty crypto action where the as easy as fish kill they shocked the global crypto community when he declared that ether is not in fact a security what argument did the f.c.c. make to support this and do you agree simon so this kind of falls into your wheel house over there over there back to the future what you guys do so how is this interpreted simon stay with us he came out and stated is the big claim in a theory i'm on no securities consists of fish and the decentralized and therefore

what it proved is that you can sell something as a security because there's no doubt they didn't come and but they do is leave out the information stays in the ether when it of originally started probably was a security because it didn't exist and it was something they were sending to people and people were put to sing it with the expectation of a return and therefore it meets the definition of a security but over time they've stated then this become sufficiently decentralized web buy something can start as a security and wolf into enormous security now this is very interesting for the crypto market because it's the assumption of how i see it is a soul's now so initial corn offerings the way you offer the world to purchase your token in exchange for a cryptocurrency to launch some kind of network or decent or less token or something else but by by stating that ether is not a security is essentially allowed for innovations agree with this markets

and see to these things to be sold in compliance with securities laws. but later can still trade on crypto markets where if they merge into not being a securities like what happens with lisa it's been a question for quite some time now what exactly is bitcoin what are crypto currencies are they securities are they currencies are they bonds are they commodities so apparently the f.c.c. is saying that it's some kind of a morphing shapeshifting quasi entity that can like a chameleon big go from being. not a security upon when it's offered and then it becomes a security later so but as you point out simon if seems as though the regulator in this case is kind of tipping their hat to innovation that they're they're saying that we don't want to clamp down on this space too hearty want to give it some room

to grow is that your perception well yeah i mean you've got to remember that the whole world wants to take that you know crypto and block chain because it is where will the job site where all the graces you know bank is realizing that they don't want to work for banks anymore they want to be involved in a quick they blocked a big and start up whatever that perception is all countries all around the world are experiencing double digit growth in terms of employment all the money's going in all the investments going in here the whole world wants to see the disruption of traditional banking and finance and nobody wants to be a part of the legacy system so the s.e.c. realized that if they don't embrace this set then this every country in the world the wants of disrupt street that wants to disrupt silicon valley and they would take all the jobs all the innovation and the complete reinvention of the financial markets so the s.e.c. really has no choice if they want to protect silicon valley with street and all the entrenched interests they have to embrace this which is really what came from this

this whole you know big experiment the big point is now disrupting central banking . and if they're impulse come along and i'll start a different wall street with i.p.o.'s and now people are deciding that they the worst place in the world to be is silicon valley because you can go offshore and you can raise significantly more money than you can raise in silicon valley and now you know with a theory i'm not so not being a security is opening up complete global markets and that's a real problem for the street and so the f.c.c. needs to make sure that they you know embrace it not before everything goes outside of america so walk me through what is happening let's call it jurisdiction shopping so this industry this script illustrates highly mobile it can move or ever the jurisdiction is friendliest and there have been a number of places that have said hey we want to be this what's a lot of crypto and that's a lot of facts which a lot of said they want to be the so it's

a lot of the isle of man where you are now has made kind of gestures in that direction you know honk on was in the running singapore is in the running can you give me a bird's eye view of where the best jurisdictions are currently for crypto and how you see that because it is pretty dynamic and it changes every few months yeah i mean it's constantly changing and governments are making the decisions of where to go and everyone has to make a decision and every country will have to make a decision and i believe that crypto is going to shape the political future and campaigns and who gets them you know elected in the future as we can see based upon new crypto policies so you've got one approach which is do what china does china said that we're going to make exchanges and we're going to get rid of them all and we're going to make exchange you know we're going to get rid of all the exchanges now the problem is that those people in china those who in mind and when you're mining a cryptocurrency essentially what you're doing is you're taking your chinese you

walk you're investing in machinery and that machinery produces bitcoin or the cryptocurrency and once. it's produced in to be quite another cryptocurrency these it can go anywhere in the world and it can be traded for anything and so really what china did is they allowed the industry that really was the thing that was disrupting some of their capital controls and then they shut down the exchanges and when they shut down the exchanges what they did is they gave all the data all the money laundering data all the idea of verification all the policies away from china so that they couldn't control that data and gave it essentially to japan and korea because japan is embrace in the industry and what japan said is it hold a job zahira for the growth this is then we better get control of the injury put put together some regulatory structure and actually then we can tax it then we can control the data we can regulate the exchanges we can find out what people are doing with the money because all the problems happen in this intersection between

traditional see it money and create and so you've got those two extreme examples china realize all the innovation all the data went to japan japan's become the center of you know the days in markets or crypt and then everyone's looking at those and saying well what are we going to do when the f.c.c. says you know america's starting to realize you know we are not as important in the world as we used to be we need to get in top of this before we lose all those streets silicon valley and the importance of the u.s. dollar and all the other little jurisdictions motor man switzerland as you state as he states it's. coming along and say well this is our opportunity if this is a global market we need to do is create a friendly environment to support these businesses we can get all the growth all the jobs all the business and everything that resolves around the disruption of the traditional financial markets and then couple the fact that you've got big corn that is now given people the ability to transact globally without the banking

system and then you've got stable coins which come along and saying well there's no longer a monopoly on the dollar a bit fix can create their. and all the. concrete there and all and they could just create a crypto currency bought by the dollar that then has to compete and you can decide which jurisdiction is right for you based on your policies where you want to be you are in the world and that is a truly dramatic significant change in the importance of the wall street and silicon valley in the world now you mention bit phonetics there for a second and stable coins and they have what they call a tether which is a stable call and it's tied to the u.s. dollar the price remains tied to the u.s. dollars though volatility there they were just in the news recently a legal opinion came out there were some questions about the tether because the industry is moving so fast it's kind of ahead of the accounting industry the accounting industry has certain statutes that they have to comply with but as we

were saying with the regulators they had no idea whether this was a fish a foul they had how to regulate it they finally coming up with some solutions the accounting industry is even further behind the curve than the regulators but tether is an example what with what it what's your view with with tether i think this kind of a hot button issue out there the question of their backing their banking backing the dollars ecstatic to have an opinion on that well i should disclose i am a shareholder in bit cynics in the same team that managed to fix matters tell us so i don't i can't speak impartially around the subject boughts you know getting getting to the question the point is now private companies government and competing governments can now actually create their own innovation and now whether the innovation is like ted the way you have you know the ball is in a taiwanese bank and the u.s. and the federal reserve trying to get in the way of that system and cause problems

because they recognize this this and then you have into jurisdictional issues in clearing. issues and all that are the stuff the friction is always in and the fear money and the cryptocurrency money what tether actually does is it produces a valuable service whereby money can flow in fee it without volatility from exchange to exchange from jurisdiction to jurisdiction the challenge is is using the legacy traditional financial system and therefore you need to rely on frost audit accounting and the trust of the council polity and so you know that has its own complications and so it's not really a krypto problem is that silly problem and that is highlighting why people over time while people do need the you know everyone needs the ability to have all of you know have less volatility and when they're paying their rent or buying houses and that's where these stable points come in and if you don't like the way the

cynics of doing it then another start up will come up with another model or another country will come up with another credit risk model and they can all compete and people can choose what type of dollar they want in the future how they want to friends at and then ultimately what it does is it drives the value proposition the big point which allows you to own your own money spend your own money and have a monetary policy based upon savings rather than debt take a look at the exchanges as mt gox will open twenty fourteen there's been a lot of improvement correct yes so the exchanges are always going to be the choke point so the easiest place for governments to target and so there's a lot of innovation is happening around that firstly i believe that there's going to be three different types of exchanges in the future and all of those exist right now you're going to have exchanges which fully comply with local jurisdiction and local regulations and the governments will get all the data and people that want to use those exchanges these days you'll also have wanted to set up in previous the center of jurisdictions that allow for you know people to flow money three days in

line with the local laws and therefore you know create a bit of a you know less seamless in. farm an old whatever that might be and then you've got the decentralized exchanges at the moment those are not usable they're not friendly but they're getting better and better and better and as the probes cool technology like lightning network and things like that are getting better you're going to see so much innovation look my full time job and banks of the future is to stay up to date with this industries and i cannot keep up with what's happening i know that right there are going to say goodbye but hopefully you can stay around for a second segment if you can but we'll say adieux is for this edition of the kaiser par with me max kaiser stacy ever think that our guest simon dixon the bank of the future could catch us on twitter account as a report and so next time. twenty

forty you know bloody revolution in fiji the demonstrations going from being relatively peaceful political protests to be increasingly violent revolution is always spontaneous or is it you know we hear i mean you know liz put the video of me in the new bill is that i'm you spoiling needle the former ukrainian president

recalls the events of twenty four g. and. those who took. it invested over five billion dollars to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic. economists try to measure the impact of the world cups and one thing that we know is that they make people they make people in the world cup was intended to have a profit for the russian government it's not a project that brings approach to the projects and brings people live in this it's extremely profitable because in general is very profitable but of close it required huge investment on the government side the idea is that this will help development of football culture in egypt.

breaking news and all change five people are killed and several injured in a shooting at a newspaper office in the us states of america while the suspect has been arrested . is going to fund them father may have been in double trouble will hold. first official summit in helsinki but the meeting in the finnish capital is already sparked anxiety on both sides of the atlantic. and sixteen go on sixteen go home as the group stages come to a close on day fifteen of the world cup in russia. is when i am here in moscow and you're watching r t international live with mina do today welcome to the program we start with our breaking.