lucian series where we're looking at the big picture because it is the summer and we're sitting back and relaxing and looking at the bigger stories i'm not going to look at the end of it as i saw some guys and black flak jackets with a r fifteen is coming this way so i just keep note of that ok but here's a tweet from last week with sky news and they said the financial conduct authority says royal bank of scotland senior managers will not be disciplined for misconduct over the treatment of small firms in the bank's global restructuring group as the city regulators powers do not apply oh apparently the united kingdom has this regulator called the financial conduct authority and that was established after the financial crisis and they made you know while they were having all those inquiries to distract the population they said oh population voters all those who have basically your taxes have financed the rescue of all these banks and we're going to

keep on looking forward not back about their crimes but. is we've set up this financial conduct authority to make sure it never happens again well now that emerge that the taxpayer own the royal bank of scotland georgi group did indeed smash and grab the assets of a lot of small and medium sized enterprises across the united kingdom well now the financial conduct authority says. oops our bad we can't do anything we don't have the authority to write this is my love hate relationship with the united kingdom on one hand you love it because it's so shambolic and fraudulent. but you got to hate it because thousands tens of thousands of people had their lives destroyed by r.b.s. just a bit just to review r.b.s. sixty thousand businesses were destroyed so that they could run in there grab the assets and sell them to a separate division of the bank knock down smash down. price two buddies friends of

theirs who then market up and made quick profits and so this at first was dismissed as a conspiracy theory and the lunatic fringe was there just like good business people they just don't know how to run a business but dogood pursued by people like neil mitchell who on the show many times can't digging and digging and digging and to get more and more proof so then it became incontrovertibly undeniable mass financial terrorism by royal bank of scotland on its own people in the u.k. . or i and the m.c.a. at that moment presented with overwhelming irrefutable proof says. we actually don't cover that that's not in our purview where we don't know we we don't see anything go go we don't know so this is so busy so beautiful this is how this market in the system estate in place for a thousand years is they all what my god i'm currently coming on ravel on those

this is. news to be put into my pocket so the f.c.a. will change their name see what happens in the u.k. is that every time the regulator is caught committing massive fraud to cleanse themselves they change their names and we go on within three months i'll bet you a million dollars and because i'm that the f.d.a. will change again within three months to try to cover their tracks of this massive ok i'll take that bet ok so do it if you're going to do it if you're going to do it if you lose i win that money ok but ok the point is that the f.c.a. they were created by the political authorities the people we elect into office they gave them no authority they just established attempt in regulator to appease the people the population the voters the taxpayers that bailed out these banks with the equivalent of catherine the second they were tying their lackeys. these bureaucrats

these government officials were trying to impress us that they were doing something on the second yes empress catherine so that was the original potemkin village but here i'm also going to turn to you mentioned big time because i'm going to turn to something that paul krugman said here is some shocking stuff that he wrote about why he's against crypto currency because he says like he's keeps on being forced to talk about this but he's now joining the fray and he's talking about why he believes that bitcoin is bad transaction costs and tether is why i am a crypto skeptic because he says if you look at the broad sweep of monetary history there's been a clear direction of change over time namely one of reducing the frictions of doing business and the amount of real resources required we require lots of security and consumes a lot of resources to produce and then he said alternately we then adopted fractional reserve banking and then the central banks held the gold and silver and then we got rid of that and we have pure fi and it's all been frictionless and perfect and that

this is then that is just natural evolution that we wanted a more frictionless sort of money right here comes the money or it you know much of the richest just money but so paul krugman is saying that this is frictionless money he then goes on to say in the piece that the money is backed by men with guns yes that's what i was going to get into but i didn't really get into this so here he's saying that the evolution of money and we're going to get back to that because i don't believe his evolution of money but he also says that you know the reason why it is a bubble and it will burst is because it's backed by nothing whereas the dollar he says and normal life people don't worry about where the value of green pieces of paper bearing portraits of dead presidents come from we accept dollar notes because of other people will accept dollar notes if the value of a dollar does not come entirely from self-fulfilling expectations ultimately it is back. by the fact that the u.s.

government will accept dollars as payment of tax liabilities liabilities it's able to enforce because it's a government if you like currencies have underlying value because men with guns say they do and this means he says that their value is in a bubble that can collapse if people lose faith so out of control state that is charging illegal taxes they came around to nine hundred thirteen completely and that in them taxes were introduced into the nice as the one nine hundred thirty nine for that was sin taxes this time an obligation if you don't use this paper money that's backed by said state a guy with a gun will come and blow your head off so the ball krugman describes it as having no friction so yeah i guess of paul krugman if a guy showed up at his apartment with a machete and cut his head off then i'd be like i was fortunate that the only took two seconds and then ok said missing it only took two seconds is no friction there

we got our twenty dollars we are worthless piece of paper that out from talk rodman meanwhile big coin is an exchange of currency that does not require men with guns that's its primary use case you don't need violence to exchange a big point like the new york times columnist is suggesting that only the money is violence this is underwriting all the wars this is underwriting the pentagon they take half of their taxes this is terrorism ok so paul krugman is saying oh if you were able to exchange back and forth without violence oh i'm against that why is that because that's where your money comes from paul krugman are you just a lackey for the war industry oh what a surprise paul krugman your kids must be really proud of all the blood that you have on your hands you discussed in pig anyway what else well i mean i'm going to tie this together with that first story that we talked about which is the financial conduct authority says that they were created by politicians to create an illusion that there was somehow regulation of the banking sector going on and none of these

crimes that happened again but had paul krugman what you're seeing there as well is him trying to deny. any of the theories of austrian school so in austrian school they would say all value is subjective it all comes from the human mind and he's saying no a gun in your face by a swat team or the f.b.i. will force you to believe in the dollar again if you lose faith in the us dollar they will knock down your door hold a gun to your head and demand you have believe in the value of the us that's what he's saying but if you also read. david graber his history of debt he would have found that it's humans it's people because they have. their own minds and thoughts and they and that includes trust and not trusting so what happens when we go to gold it wasn't about friction it was about trust so we would have credit based

systems for very long periods of time when things were harmonious and the soldiers and the people believed in the government and they had faith in the government during times of war and conflict it was the mercenaries in the soldiers who didn't believe that their government would be basically good for the credit for them to go out cross to the middle east from rome and go down to jerusalem and start fighting some other people around the world they want to gold right so these goals then there's a supply that were based on the trust the people obviously our governments are having a very good with a pure system they love it our government doesn't have to do anything but the people are the ones that chose big coin they're the ones that create a big coin the genesis block of bitcoin in january third two thousand and nine said chancellor bring a second bailout that was referring to the bailout. and these other u.k. banks so these all go hand in hand that it's all about they have created these

potemkin currencies potemkin regulators to back their feet fake system and now. it's basically they're exposed all all the population sees that it's a fake village they see it there and they're like dude you're trying to make me believe i'm going to use big queen said because i have more faith than that and i have in paul krugman currency they mentioned gold and silver and it relates to war and particularly roman times are famous over and i couldn't pay them silver for they keep the empire intact they are collapsed and they got into coin clipping and all this other stuff and you mention austrian economics which came after keynesian economics it was kind of like ok where's the economics going but paul krugman is a legacy guy holding on to the keynesian economics and you know or currency and the dollar intersects nicely in their iraq war experience here is an illegal war the us

and britain went in they slaughtered half a million innocent iraqis including children women and to try to extricate themselves from that problem they flew in on a huge cargo plane seven billion dollars paul krugman paper money on pallets to try to pay people off so they wouldn't show the dead bodies don't tell it to the american people that we just slaughtered half a million people well put our own guy in place here and we're going to try to keep this all hush hush and while we go to libya and we depose gadhafi internet into a massive terrorist state what happens to his coach. who stole his gold right tony blair was there that as. a group here or girl what he has to do is cricket. teddy bear with acoustic or chess anyway say to me the second have a whole lot more. we

have no idea what say he is doing on vacation but she will be back on air in september. with up of both of us. on the. last time we chased. each one of the carrying twenty kilos of drugs.

first offense. that. is the very real i mean i'm a little boy am. i like me. i don't know maybe i don't get a. break right. now what. welcome back to the kaiser report imax kaiser hey if i say liberty blitzkrieg what do you think of oh michael krieger of course out there in colorado former wall

street guy now blotter slash analyst slash all around good guy michael welcome back thanks for the intro max great to be back we're kind of pulling apart all the recent things out there and jeff bezos worth one hundred fifty billion after gaining fifty billion and just this year alone they had landed magazine recently said that this force and proves this system is rigged now they're finally conceding we have a saying for a long long time here your thoughts on this reg system and are any politicians but bernie sanders even talking about this like ok or oh ok first let's start with days or so so as far as amazon i think one of things people are missing is that it's not just you know cutesy company where you get free shipping and you know get to stream movies it's it's actually pretty nefarious what they're trying to do they're trying to control the highway for commerce in america and then they can use that leverage to push their own products push other products out it's actually very bad for free

markets ultimately if bezos and amazon are able to do what they want moreover when you talk about is dealt with i don't care how much money someone adds but money issues based service is earning this money on the backs of exploited employees in this these storms are starting to come out more and more lately you know they don't have health care a lot of their employees they they they're your knitting in bottles plastic bottles because they don't get long enough time for bathroom breaks or the other thing recently this was a great exposé in the interim intercept talking about how amazon employees so many of them around food stamps if you look at states where stamp usage is high amazon is the top ten in a lot of places they are so amazon workflows book both ways that you know their base and soon you're going to be allowed to use you know food stamps to buy stuff from amazon and so it's you know in zones taking advantage of. the public purse in a big way and it's employed so i'm not a big fan of days old and i'm not big fan of amazon i think they're there are essentially modern day robber barons which is to what you said about the riddick ana me and yeah that's the sad part you know we're not even talking about this now

you know we're talking about rush again and again that's intentional right i mean i remember it wasn't too long ago and people were there's hill and outcry over the net that foxconn was erecting around the apple factories in china because people were jumping to their death and they needed them back in the factory assemble i phones but this is similar in many base but as well as work additions are now bordering on that kind of exploitation and again nobody is saying anything at this time i guess because most of congress actually own stock and a lot of them on amazon stock so they are completely conflicted now they're talking about the system being rigged how can it be on rigged you know is big coin the answer like ok or yeah so i think i think first of all you know human beings in an american stalking to one another and and explaining to each other how things are and how people are struggling and suffering in real journalism is key and so again this is why facebook is trying to you know crack down on alternative opinions and

keep everything right really nice tidy and cozy to like fox news and as n.b.c. talking points that's one things we've got to talk to each other we've got to continue to talk to each other big coin is absolutely an open source i think is huge as we've discussed before a huge part of the solution trust list systems genuine platforms is something we've discussed and of stacy tweeted about the other day which i agree she said where is the toshi on social media that's right if you're going to have platforms genuine platforms for free speech the operate like the public square you do need them to be truly neutral and if you have human beings deciding you know what can be said what can't be said what is civil dialogue what isn't civil dialogue you're going to ruin the whole thing so we need real platforms i'm so this. today and the other is and this is something i know you talked about before i even was on your show and this has been the most disappointing thing people are lazy when it comes to thinking about how they spend their own money how many people complain about bees those in

the washington post and then go buy everything from amazon or go spend three hundred dollars on groceries at home. people are not taking personal responsibility you know as we discussed last time you get mad at facebook but you're not deleting facebook and you're still using facebook you know we need to start to build actual movements where large groups of people are protesting companies and their policies with their pocketbook and you know you can saw this irrespective of what you think of b.d.s. you know boycott the best what's the unsanctioned i think against israeli government the israeli government that's the that's the only thing that really scared them in the last ten years and so i do believe that we as american citizens have a lot of power in the money we spend and we're not using that at all right amos and people need to talk to each other and you know reminds me back pray american revolution days merican were being spied on by a colonial overlords and so in the constitution and other documents they put in

something called the right to assemble all that's right you can get together and talk to people all if you have a right to do that so we fought a whole revolutionary war for these rights and now they've been assessed you know destroyed. over time now talk about we talked about decline for a second there so paul krugman was out again spouting nonsense about decline he claimed that because it isn't a bubble not even if the dollar were a bubble that nobody can lose faith in it or else they would be met with men with guns. thought yeah i mean i just it's so frustrating people send me this link of crime and intentionally avoided reading anything from him he's a painful writer he. a terrible thinker i mean the guy shorted the internet in the late ninety's i don't even know why i have to read this guy but i did read it and it was horrible again and you know he says in the piece he says please someone tell me you know one thing that bitcoin does he pretends that he doesn't get it but i'll

tell you one thing that the queen does it's very important he assumes in the piece based on no evidence that central banks are trustworthy he also says believe it or not is his big banks are trustworthy so he's making these ridiculous assumptions which are clearly false based on recent history and if you look back at the creation of dick went right i think it was the white paper was in january twenty ninth two thousand and nine i personally believe that if we didn't have the financial crisis between probably wouldn't be as big as it would just sort of be a curiosity so because it is inherently popular and has a big valuation because there is a huge demand for what it offers which is many things but one of which is trust list money digital money so you could say gold is trust was money and that would be true if you have it in your possession but bitcoin is trust was digital money and that is a huge difference because krugman is saying you should trust the fent you should trust governments and guys with guns and you should trust big banks and the public

a lot of the public and certainly big corners is saying no you shouldn't you should not have to trust anybody or any centralized entity with your money and that's precisely what bitcoin solved and krugman just doesn't want to deal with that because he trusts all these crazy all of garbage corrupt institutions right the paper by the way was written in two thousand and eight and then the genesis plot was january two thousand and nine but you know krugman and part of the thrust of his face is that we have from friction based money to frictionless money gold had friction and what came before gold was that even more friction but paper and fit money it's there's no friction in that and they says that and. the way if people don't like it we can make it come with men with guns so as if to suggest that a man pointing a gun in your face does not represent friction. the man is he is has

mental deficiencies on a huge scale at the end of the rest of the piece goes on with similarly misplaced misguided rhetorical gobbledygook and poppy caution but again you know who's the working for the opposition. now internationally we've seen nations only smaller ones get met by our boys with guns if they threaten to dump the dollar so here you know krugman is playing out that hey take our dollars oh well if you're in iraq will kill half a million of you but you see that gary coleman recently said. a global cryptocurrency other than big claim is emerging out of the current sanctions ridden swift access denying fee at grid so here you have derek on saying yeah a crypto currency well become the global currency will be back on but we will see a crypto currency when you think ok well yeah i mean that just seems like typical human nature and people that are very invested in you know the current system of

course the day when you miss bitcoin most people who are obsessed with denying because they missed it need might be a little embarrassed or silly that they didn't make a lot of money on it which again is back to human nature but to your point about friction it's very interesting because as you say it's how it's about how you define friction i can think of all sorts of friction in the current system i mean you get you travel internationally and they'll go out do you take more than ten thousand dollars in cash with you how is that not friction course that's for sure what about trying to wire money in the u.s. like wire from bank to bank is that really so you know there's friction and the fact that your transactions can and we've seen this happen be blocked that's friction did you develop that you were allowed to send any. amount of money globally in a reasonably quick period of time for relatively low fees is extreme is demonstrates extreme last friction in the current system so it doesn't even make

sense to what he's saying at all what about the scary con idea that there will be a global crypto currency but a stop it going of course because i. know the block chain without because it is just a spreadsheet and that's what these guys are hoping for they have blocked chain kind of trip transactions but they don't like the fact that it's trust and you don't need a central authority i think that's what he's getting at but do you think that he's just this is a gateway into understanding because i like this is how he's going to get to the point where oh you know i was wrong i understand decline now so he's just all on a learning curve or do you think that he's right that there will be a competing global cup a coin ok so i guess you have to sort of define what what a crypto coin is in the first place like for some for example the dollar is as you know mostly digital at this point and the dollar is the global reserve currency so you could argue that we already have a global digital reserve currency that exists right now and bitcoin is a an attack essentially on the current system so i think when people say stuff like

that they're usually intentionally vague but if you actually pressed them would be interesting to see what he has the same i guess let me jump to the file questionnaire trade wars your thoughts going hair good idea to destroy the trail i share with china which many unemployed voters see as a cause of their poverty like a crater got about a minute oh yes sure so you know i think it's pretty obvious ross perot warned about it in the early ninety's with nafta but the trade has been rigged with china and with other countries so that wealthy people knew us and manufacturers could go in gauge in labor cost arbitrage and a few jim ounce of money manufacturing overseas and then summing it back here so to me it's you know the results of the last few decades are clear a few people benefited a lot and. most people really did and you can see now with wealth inequality you can see that with income inequality and so look i don't know what trump strategy makes any sense or or not but i say hey you know what let's let's switch things up let's just try stuff what you know because what we had in the past is not working

so at least he's trying to switch it up right exactly even though he's a change agent but try some new stuff try something and so works clearly the system in place was not working all right michael krieger of liberty blitzkrieg i guess a web site is liberty blitzkrieg dot com is where you find michael trader a novice excellent work thanks much for a guy's report thanks max was great that's going to do it for this edition of the ca's report with me my skies are safe here ever like think our guest michael crater of liberty blitzkrieg if you want to catch us on twitter because reports on bio.

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in french opposition leader react furiously to finding his name on a list of suspicious twitter accounts forcing him to declare he was not a russian by. the netherlands a real step from the shock suicide of an anti immigration party politician who claimed she was raped by a muslim gang last year. but. two palestinians are killed and more than two hundred injured in the latest flare on the israel gaza border soldiers opened fire after riders hurled explosives and broke through the fence. now for the latest on the stories you can head to our t.v. dot.