this report released by a kaiser report regular neil mitchell this is shows you the difference between the likes of kaiser report and the guardian here's their assessment the publication of this report comes at a sensitive time for lloyd's as it attempts to move past the painful legacy of missteps before and during the financial crisis right because it's why people tune in to report not because it makes printing gleeful unhappy it's because they don't want to hear people say oh these little missteps and it's very unfortunate that scottish business neil mitchell released this report exposing the fraud and the defrauding of the population of the u.k. well it's these are just missteps the deference that they show the. aristocracy is breathtakingly sheetrit and so i feel very bad about that megan miracle woman meghan markham she married a prince she knows to live with

a slime bag for her entire life and proud of big spawn another's slimy banking. stain. you made a bad choice and it's just an actress anyway state over the second i have a lot more coming your way don't go away. join me every thursday on the alex salmond chill and i'll be speaking to guest of the world of politics or business i'm show business i'll see you.

thank. you.

we. have. welcome back to the kaiser report imax keyser time now to return to our conversation with simon dixon is that over there in the isle of man of course of bank to the future author of the same book banks of the future simon welcome back thanks for having me back again all right now simon in our first part of this conversation you know i heard again in your voice a very passionate description of the descriptive disruptive qualities of big coin

in crypto and you know so often in this industry people get caught up in that little petty kind of little wars that go on this coin versus that coin and they lose sight of the big picture how disruptive this is to banking and to figure out money so you know i think it's important simon to once again preach the gospel to the people about how this is disrupting global banking you were a banker you came in the crypt out now you're riding the wave of this disruption preach brother preach to the people or they wouldn't really important because people have so much internal politics that you know miles within our industry our industry of kind of person on the hill with our improbable that that but we do need to remember to put all that forward and i'll bet or would is exactly what this industry is doing the part of the matter is when we thought it cool thing about

this thing when you had you know get on and you in to do you know going to the world of the on national t.v. you know we were a pine needle thing we have plenty many things going through. we both spoke about going home print but yet here we are today where pretty much wherever i go in the world no matter how many people or what might be they have need to bitcoin they may not. what it is they may not know how to use it but almost everybody in the world has heard a big calling that means now there is something that everybody has heard of but they are going to discover a different point why they need it you know the people in cyprus to know that they needed coin until the bank stole the money the people in greece didn't know they needed to quit until the a.t.m. said there's no cash the people in india didn't know that they needed quite until they had to queue outside that bank with their life savings in the bag and risk getting killed for their life savings because they had to put it through the bank.

mexico didn't need that they needed bitcoin them to obama trump became president and crash the value your twenty five percent the u.k. didn't need to know that they needed bitcoin until breaks at half and then the our currency in savings depleted twenty five percent in the international market we now have every first pawns the ability for you to take and to have to fiddle cash to own your own money spend your own money and have a monetary policy that rewards the save-a rather than rewards the people taking on debt which additional money now within that we've got lots of politics we've got people that believe that bitcoin is a savings account we've got other believe that should be used as tests and then you've got people coming along and sample we can do this cheaper faster and better but the point of the matter is the big question is the only one that's actually a store of value that the centralize is able to actually fulfill that sort of value role and if something came along and create cheaper fausta cash then great. that's the innovation that we're having a theory in comes along and creates

a small contrast platform that turns out is absolute disrupting the i.p.o. market will street in silicon valley that doesn't mean that it competes with big corn this is all part of a great ecosystem and then came the wrong one says that we can do this cheaper you know false better more decentralized lefty centralized the point of the matter is that we as a vehicle in this is store of value and we call this innovation this. being built around it and that is a completely free market capitalist environment regulates as when they try and control it it ends up going somewhere else so you know governments are making decisions all around the world how they're actually going to react to this technology and that means the bull is less important in the world than it was because a bit coins because of the theory i'm the i.p.o.'s to the combat the almost three a less important in the world than they were before and now on a global scale people can participate in this this movement this disruption and

various different level with people all around the world are going to be involved at different phases for different reasons but the fact of the matter is we have global competition and some of the most entrenched interests that were built in the financial system now need to be more honest compete better put together better systems and then you know look at the when we have the next financial crisis if we have a crisis this time but not too big to fail you can replace them money with the fed calling or a quick currency created a central bank and that could compete with bitcoin big win win because if the centralized one that allows you to only spend that and it encourages savings but the fact of the matter is you now have all this disruption you have this competition and when you first saw the call it is a record and you would you know bringing telling the world about all this corruption and problems well we now have the answer you force them out of the crypto industry yeah i think it's

a good point there is that the next crisis and we know it comes because it comes as a result of the bailouts the other preceding crisis they never solve the problems they just print more money now you've brought up a lot of good points there you've given talks around the world and you have said on many occasions that you can see crypto in bitcoin overtaking the venture capital market and we've got a lot of inroads there too simon dixon we're. are we on that timeline is this the eclipsing the venture capital market in your view what you think well that's already happening the amount of money raised through i.c.a.o. last year and now you can have an opinion on the so many of those are scams on registered security straight out ponzi scream but the fact of the matter is more money was raised through i c s m venture capital but what happened the world stopped relocating to silicon valley and begging the seas in order to give them money and instead went to the wolves and said do you agree with this valley and the

the whole world participated in that then what did venture capitalists will they came along and started investing in the ponzi schemes scams and started getting discounts and trying to get discounts and you know sell them to retail and higher prices and what happened is the venti capsule industry started participating . in this industry so now the venture capitalists are just one of the participants in an industry that is much greater the net capital and the competition for that so and then the f.c.c. comes along and says well we're going to clamp down on this stuff well great that means that america is now the worst place in the world in order to raise finance for your business if you're trying to do something in the book chain and quick to an issue one of the poker. so you know that's the venture capital industry is not disrupted just one of the players that one of the been invested compete for other

money and other investors and there were trying to scramble around and adjust and figure out oh well well now we can actually have secondary market the quiddity on our investments and if this starts moving around the regulated route well you have regulated securities you have different jurisdictions that will support the currency and then you have completely decentralized out of the control of everyone and those markets are going to exist and people just need. the thought i'd like to hate it it's here it's coming and it's not going away now let's talk about back to the future for a second because you've been on the forefront of the center strain now sense practically isn't it at the inception and you had an eighty s. license the alternative trading system license for a company you owned called van of eight now you sold that to coin base. what can you tell us about the deal what does this say for the future in regards to u.s. investors so this is this is the big question you know the u.s.

is being cut out of a lot of deals because of the regulations in the u.s. so this deal with coin base that you've been involved with does how is that going to reshape the regulatory framework ever at all your thoughts simon you know just just to get back to the correct we were a shareholder in q think capital corp that was then sold to queen bass and queen bass as they came to enter the securities market in the woods to do that now the interesting thing right now and this touches upon many of the things that we were actually speaking about is that us legislation is not necessarily fit for purpose for the token market for example there's things in us legislation this state if you have an a.t.f. you can actually display the price and have an order book now the crypto market is used to order book and display in prices you know because if you do have an order book and displaying the prices then you need to be registered as

a national securities exchange and also in order to sell those exemptions and allow those you know those markets to be nonpublic companies and still be able to sell them as they have been then needs to be a one year lock in according to u.s. securities law so combine those forces and you actually got a very inappropriate legislative structure and regulatory structure in order to operate the crypto market that use used to. now the whole world is focusing on the us falls asleep because the c.c. is the most vocal regulate but around the world they're putting fit for purpose regulations and. i know that some restrictions from being you know the leading financial market in the world where someone else has got the opportunity to leak probe you know we saw with you know amp a is a leak probing the banking system going straight to mobile money well all the jurisdictions the leapfrogging securities and exchange and going straight to where

we want to be and that's what bank of the future has been working on and we've been off in the question you know is focusing on the us the right strategy is that the right approach well it depends where they go from here and what happens next but if not the whole business texans willing to field fit for purpose the this in the way the market is once and once it's done well let me ask you about. you know africa you know you mention ampacity in africa and of course we know bit paisa we've been involved in for helping to finance that company and recently a bank the future are good friends a bit mari were able to raise some funds there now got a banking i guess a banking license and zimbabwe so i mean this is part of the great thing about the sinister simon is not only are you disrupting the banking industry as you've stated you know in your book when you started out but you're also changing dynamics in the global finance in a big way so africa potentially could be the whole continent certainly countries

with within africa can a leapfrog and head of all these other territories and it could be a really interesting success story you would know better what do you see there absolutely and you know with geographically diversified we think that chris has a unique position in many different geography you know i was just speaking from. with i think you spoke to sonny from you know calling recent they are. the company . we're investing in in the middle east. and you know in india the banks come along and state. the banks are no longer allowed to work with crypto currency exchanges so how does an exchange i mean they're going to react like that well they say well thank god we don't have a banking license let's create this create something centralised all the gee let's look at different opportunities well let's look at the cash to create a market is the banks on allowed to participate regulations

a safe thing that we can participate now the banks can't compete with us and so a lot of these announcements that you see all of them interpreted as negative but actually have very pulled the can have positive results when the in this industry i'm in bill and so it's just for the environment all right i saw it when we got a cutter up there but a fantastic message just work around it the entrepreneurs in crypto are the best and the fear of money is in retreat simon dixon back to bring on the guys report thank you matt. well that's going to for this edition of the guys report with me max geyser station i would like to say or ask simon dixon of back to the future if you want to reach us on twitter it's kaiser report in the next time.

originally the thought is drastic to our citizens taking care of our cars just please take you to function most of them are from a completely different cause i would just. as that's. the problem is that we kind of how. we think that state they call a nice this is not part of tweed. want to get something some people

have money. no no and place up some stuff stuff stuff stuff you know. my culture is a christian country and we don't do things like that and we tell you if you do then we hate you and someday hopefully you can do something about this stuff. we can not be naive about to not attract more gangsters rapists and these actually that are tearing down this city we want to be a switch country and we want to know the people who live here now to go back. current american administration is raising tariffs and revising old trade

agreements when america sneezes can the rest of the world of only a contracting protectionist fever. play dough mostly on christiane i. now that i bought to the world cup on the same day as miracle i beat portugal two one in the last sixteen. while it was ideal sergeant sceneries the two time champions were beaten forestry industry led by founts. i. found as you can see from this fans go wow this they celebrate the win by seeing russia back home. yes it's pretty first

day in the last sixteen of the world cup that sees the world's best players go out and one french teenager come of age of four on the day's action that's possible i've not read special studio in red square with peter schmeichel and neil harvey. beautiful evening and some beautiful much the full we've seen today the second of those has just finished. europe why do you offer it to the quarterfinals after they defeated european champions portugal two goals to wall a previous mark alongside me he called this pretty much said watch out for suarez and of all me in particular was the man who had the biggest effect on this match. yeah he did he was brilliant you go to newt would choose. it's a bit of

a worry for you when the game finished he came on the page he didn't look to be too much discomfort but it's still a worry you you get a muscle injury at this time in the tournament you know you haven't got that many days to recover from so he is very very important to where you are go i no doubt about the qualities of those who are as but it isn't. to me the big stand the theme and and his performances in the in this world cup and especially today which is fantastic and you said what's out for the tangent together these guys are some strike force and they combine beautifully with a one of the longest one teams you will ever seen right across the width of the pitch this is how it played out like a volley started the name on seven minutes pretty wide to suarez here and he returns the favor knocking it back in yeah this is a perfect ball in and to a striker who is very very good in the heading department and he does miss from

there and that sort of set the tone for quite a long time and you're a guy then sat back a little bit had four sometimes five at the back and then three in front of them and kept the block very very tight and teach you said at half time your instructions say the founder santos the portuguese manager would be good shots at goal they need to be more direct they need to get crosses into the box and it's almost like he had r t on in the changing what the thing is it was it was very obvious that they were just playing the ball around in one nil down in the game that if you lose it you leave the world cup you have to try you have to do something and they didn't in the first top so the simple thing is of course when you are in a crossing position cross the ball in the box give yourself a chance if you're in a shooting position and shoot have a shot what you want to do is you want to ask that defense questions they would

have to come up with the answers and this is what happened in the second half story straight from the go they went out there they tried to court the put. on so he got on the right and cycle could get some crosses in. it was right from the beginning he got one of two crosses and they started to cross a ball from the left hand side as well plus they had shots from from a from the center of the goal and i asked questions of the goalkeeper and then. fifty five minutes they had a corner i complained about the show conus a check in the first time so this time it took a short chrono but it worked on the cross and everyone kept an eye on ronaldo and here you see pepe. and actually the story in the first goal against your strong women it's a really really good had no chance for the goalkeeper who was by the way he was chasing a personal record of keeping a clean sheet i think you need eighty one minute and he lost fifty five only so

a little bit of a shame to him but he played well the goalkeeper we saw at this point and very much as we saw in the early match of the day the way menton changed because at this point you had portugal in the ascendancy they were playing more attacking football because they were chasing the game you're quite defending like. that and then that situation i think well i mean they think they kept going the way that they started that second half but when you have someone like pepper in the team he pops up to score a goal like we've just seen but he also makes stupid decisions in a game and for the second goal that come on he scored he made a really stupid decision to go on trying to win when i had a way he should just to stay back and i was trying to win that header he left such a massive gap for me it's a path into him and his finish is good i have to question the goalkeeper in this situation we can have a look at that now obviously you see the doc out there. you know so it would really

make you go if you are taping paper is just running back there it wouldn't have been there had peppa not gone for that ball. finished so the layman it looks like a fantastic place in the ball in the corner that you weren't happy with the case you know it is take nothing away from the quality of the finny thing. but one you facing a situation like that as a goalkeeper you have to be. a little bit further out the goal. we put play sure was on the line and also he got carried away he was a little bit too far to the right as well and when we saw that the shot from from directly behind the goal i actually thought to begin with it was in by the post but it's nearly in the center of the goal. it's a quality fade it's a great finish and it's from a really really hard strike and you can't take anything away from that but you know you always have to question these players because they are at the highest quality in the world and i'm not going to blame him for the goal but i just thought that he

could have done a little bit better i will though i will go criticize pepe because an experienced player like him the places he played the big games that he's taken part in all the european championships and the world cups all that experience you pour that into one player you know he's supposed to know when to go for a ball and when not to so he created a situation for your boy that you know he just stood back that would not have happened and what did they play that was obviously put portugal in a very difficult situation and after that there was nothing in portugal simply nothing there now to try to you know huffed and puffed a little bit but nothing nothing really happened and we talked about the fact that we've lost legal nessie already and now we've lost for now and it's a slightly sad ending his last contribution to the match had a shot that nearly hit the corner flag and then his very last contribution was.

poor temperament argument the referee and getting booked and that was it was last season yeah the situation is because the congressman is dribbling on the right hand side and it looks like he's been he's been following the referee of the ways play on and when we see the replay i think the referee gets a quite right there's no need for caressed which will actually go down because you have the ball and he could have crossed it and run now that he was so few. that he was up against a referee like that who straight away gave him a yellow card which was the only yellow card in the whole game and portugal equal i scored an extra time and got through to the quarterfinals bernald the would have been banned so. yeah a little bit of a sad ending and we're now speculating that it was this the last time we saw cristiano ronaldo in a world cup was the last time we saw in the elements in this mess is thirty one or another it's thirty two coming up to thirty three we don't know it's four years is a long time in football and by the look of their performances today is the day look

tired and one i mean we don't like to lose players like that of that quality but if they don't perform i mean right now there's been ok overall in this tournament bouncing messi has i don't think from being the best plan the tournament four years ago to now on the three worlds apart absolutely. well it's been a significant day i'm a seen the last to some of the greats of the game but you're a quiet and hope for that founds that lives eternal. be or were there were. so we know that you're quite through and if you don't know the results of the early much of the day let's just spoil it for you now you can check it out critically

that with the flags and you can see that it is going to be euro quite a gang france he defeated argentina in what was just a sampling mike tyson match is down. four goals it's a story let's not mess about let's bring you the go action. hero. you ought to keep you on the list.