why do we have breaks it why do we have all these things well it all started with report talking about it because of the financial collapse headline reads the financial crisis cost every american seventy thousand dollars fed study says america never made the growth lost in the two thousand and eight global financial crisis and the recession it triggered a decade later u.s. households are still counting the cost so we're below the two thousand and seven trend and that equals seventy thousand dollars per household right well let's. kind of go on to talk about this for a moment here so they response to the two thousand and eight crisis was that the global bankers got together they really architect of the global financial system to a stand a ten time the impact financial crisis in the future they did nothing however to undercut the ability for the bad actors the global banks to increase their balance sheets in the leverage by ten times and now here we are in twenty

eighteen and in fact now the balance sheet of these banks in the central banks is ten times more leverage and now we're at the threshold where they were unable to expand re architect to withstand a crisis at eleven times the previous crisis which is what we're entering the remember that famous movie where they had to turn crank up the volume to eleven that's what we are analysts have spinal tap we're at eleven on the crisis level and there is no provisions for a massive global financial collapse as we are now seeing with the dollar skyrocketing out of control and so it's back to good times and you are right it going was created to combat the banks stirrers and in this crisis in this crisis now unfolding will see that i'm not shaken the doc i'm shaking my torso right how much will see the price now zoom up to that hundred thousand target i've had since twenty. eleven ok so now back to the story because we're going to talk we have been

talking about the fact that in the us mainstream media the corporate media they do not like to talk about why we have trump in the u.k. they don't like to ask why we have breaks it they like to come up with conspiracy theories instead and again we invite you to go to m s n b c and fox and c.n.n. and look at their conspiracy theories and enjoy them or not or like believe them or not but some facts my also have relevance to why people are so angry and they want to kick the elite in the teeth over and over even if it means taking down the global economy because if that global economy is not working for them they're probably thinking why should it work for those top one percent we have shown those that famous study where they have two monkeys in cages next week each other you give one monkey a carrot he's happy he'll eat it you give the other monkey a grape and suddenly that monkey that was perfectly happy with a carrot before sees the the other monkey gets

a better good taste your great and he goes crazy and he starts slamming everything and throwing all his food or oh it's an excellent point just to briefly build on the so vote and i talk to british people about a i said you know this is economic suicide and they said i don't care i just want to kick the elites in the teeth so what you're saying is the case that could be applied to the globe or people just reject the global economy wholesale and start to commit financial suicide which i think you will you will see well here they're saying the average american family is seventy thousand dollars worse off today than they would have been had things continued as it were in two thousand and seven we know that the likes of jamie dimon is now a billionaire we know that lloyd blankfein is a billionaire we know that we have we there's construction going on so our whole crew looks very shocked that there's a noise off screen but just so you know we're out. in the public that's not

a food truck i'm having some french canadian bacon delivered for lunch so but we know the top one percent have done a lot better than the past was in two thousand and seven because if the ordinary household in america had seventy thousand dollars more cash that means they would have less at the top all right excellent point because crisis magically put together you know this on norma's wealth redistribution to the top so was it was it a crisis or was it a planned obviously plan so again like if you tune into corporate media if you tune into the mainstream media the very confused about what is going on why people are so angry because saint obama to them was a great president obama care even though it cost some people like us thirty thousand dollars a year for a product that doesn't actually cover you you know it's all better for the long run now i'm going to look at another headline here that you and i have been covering as

well i remember obama when he came in during the financial crisis said that we have to go forward not look back and we need to not punish these bankers because we need to move forward the economy is in a bad place so we're going to look at our b. s. royal bank of scotland and what they did in america and now they're just paying a fine to resolve this so r.b.s. bankers jokes about destroying the u.s. housing market r.b.s. bankers joked about destroying the u.s. housing market after making millions by trading loans that staff described as total garbage according to transcripts released as part of a four point nine billion dollars settlement with u.s. prosecutors details of internal conversations at the bank emerged just weeks before the ten year anniversary of the financial crisis which saw r.b.s. rescued with a forty five billion dollar bailout from the u.k. government so u.k. taxpayers were. by the way their incomes are even lower ten years after the crisis

than american incomes they bailed out their banks nobody went to prison remember the f.c.a. and and the united kingdom only a week or two ago the financial conduct authority said there was no evidence they couldn't prosecute they had no authority to prosecute r.b.s. for their global restructuring group smashing and grabbing the assets of all the small and medium sized enterprises here senior executives and we'll go over some of the quotes they were saying these swear words that are going to be bleeped out so you the audience don't get to hear what they're actually saying about the stuff they're selling you and destroy your economy that everybody's now seventy thousand dollars worse off well i'm sounding the alarm on this for years then usually you know my wings get clipped and some by some degree you know they can't say anything really outrageous about r.b.s. or these bankers because you know it's not cool or it's uncouth to describe them in the way that i have described them in the past but clearly royal bank of scotland

you know when they're attacking british people that's one thing because it's who cares british people their micro their garbage who cares but when they attack americans like this that's obviously an act of war and america you know we tolerate less from iran we tolerate less from china we tolerate less from our perceived enemies that trump is raging on about that we are in the trade war run economic war iran apparently is our enemy according to trump and we should bomb them or we should bomb syria without ok r.b.s. and britain are financially attacking americans in real time with acts of war acts of financial terrorism so it's very simple that. i mean i don't know how to make it any any simpler than this i mean these people are again remember everybody in the world is angry and nobody in the elite media understands why they think it's a conspiracy theory and they prefer that because it's simple that they don't want to look. at their friends because look at our pos sr this is let me give you

a quote and tell you who this is because you are a banker max i'm going to read you from this article the bank's chief credit officer so pretty senior right member eric holder who now wants to run for president in two thousand and twenty he was the u.s. attorney general at the time he said there was nothing you could really you couldn't really prove they did anything wrong nothing was technically illegal obama himself said that nothing was technically illegal the bank's chief credit officer in the us referred to selling investors products backed by total garbage loans with fraud that was so rampant and all random those are quotes from him he knew that there was fraudulent loans in these packages that he then sold they included the article of the department of justice of the united states so they they for example sold this cheap credit officer sold this package of garbage to some nuns who lost ninety six percent of their investment well this is so messed up and

so if someone quotes from the bankers then the bankers can sue you for libel for quoting them yeah verbatim but the a but they also like they litter all of their crimes and their confessions to crimes and these internal e-mails with swear words that you can't say on the airwaves so you don't even know what they're saying about your product like what they've done to you why i remember the first article i said that the u.s. fed themselves their own research shows that every american household with seventy thousand dollars or so usually an article to see that r.b.s. the chief credit officer for the united states was mocking that they were destroying the u.s. housing market when is america going to get smart i mean. this is the voters voted in trump to tear down the system the voters voted and breaks it to tear to destroy the system because if these people are the system this chief credit officer. the

united states is friends with obama is friends with eric holder maybe not personally but they are the same ilk so they you have to take down the whole system and perhaps you know this is one analysis we're offering you can tune into rachel maddow dot connecting you know she has some wacky conspiracy theories that might you know glenn beck stuff elaborate other stuff but rather than the stuff happening on the ground and the e-mails that there are they're saying. we i mean one of the e-mails talks about specifically the guy says well i wouldn't say i'm destroying the u.s. housing market but maybe just like damaging it quite a bit but he says that like he's doing us well you know well you know that banker mentality is what the story of greece they took it down for a profit is what they they are attacking italy other nations for the same reason they attack iran ok iran is a sweetheart compared to the royal bank of scotland yeah so anyway you know this is

a many americans promise to come here to toronto they never did all the elites the sort of people that are on saturday night live or m s n b c they promised to come here because they couldn't understand why people voted for trump they still don't understand but now they have a comforting conspiracy theory just like you know after nine eleven many americans tuned in to comforting conspiracy theories then well now the elites have comforting conspiracy theories and that's why they're not living here in toronto. well much more coming your way right after the break so don't go away.

i'm going. to forgive him but he said he was up and up and basically living in the. house he will never get to school so we're talking to the. other side of the. hell up i'll get it won't be easy i do believe. that a lot of it i think about tom and i skidded but i'm about the same as art but i was

up the money into the magazine by going to. give him up i left my money on. the and i'll let them go so that was a long. long way to be made by. other people more gullible whose life was on the upper. lip. i. loved it loved it because i can't beat it.

the lead can. be. kept. welcome back to the kaiser report imax keyser time now to go to anthony oreo is the c.e.o. and founder of the central and jacks and the co-founder of a theory anthony walk thanks for having me on the history of decline you know on january third two thousand and nine the protocol was launched by twenty eleven you had individuals in different countries got the message and they become the pillars of those countries the titans of those countries in this space and part of that first wave of ten or fifteen adopters who really defined the space and i think it's fair to say that when he talked canada anthony diorio is big going canada and you

have a very. esteemed place in this community that's really remarkable and when people say that you are the co-founder of a theory and use many people claim to be called the founder of a theory but you actually are a co-founder of it there and you were here in toronto with metallic and just kind of walk us through how that all happened sure so i in two thousand and twelve. changed my life right away i've been a technology guy all my life and i put together a few recent years of studying economics and learning how things are really working and learning about what money was and really digging into that and then i put i've had a history of decades of technology so i was eight years old building computers and i went to school for business but just always been a computer guy business guy entrepreneur and then when doing the economics and hearing because i like this is the holy grail i understood it right away and grasp it so i set up a trial between meetup group in two thousand and twelve that's where i'm at but the first minute i ever did he was there along with eight other people and through that next year got to know him well and he showed me the white paper right when i was

setting up my hub in trial called the central and he showed it to me and i showed it to charles hoskins sin and we started it i funded it and initially up until the crowd silex will see myself and joe solution trauma and the central became the first hub for a serial here we ended up selling things up and switzer. yeah there are those planes we've been talking about yeah that's fantastic so. far it's very key names in the space charles hofmann stan and and joe louis ben and you know you talk about is there still a lot of chat between you and metallik on these guys and trying to shepherding this industry going forward because now that you've all become you know successful and if you look at the forbes list of crypto folks you know certainly not the same mega successful but is there still a lot of like chatter amongst you guys and you have a certain responsibility to say this industry oh definitely definitely industry yeah i talked to a number of those guys still and my focus turned away from syria in two thousand and fifteen to continue building while that's which is what my company does we

build a wall called jacks and we support the corn assyria mall the about seventy different ones right now so i win more of your theory i'm in to try to support the entire ecosystem and i don't want to just put all my eggs in one thing so it's still a big fan of big big fan of theory and trying to bring everybody together and unite this whole ecosystem and really bring it forward so so during this recent price dip you know is the adoption rate continuing what are we seeing during this period typically in the past when we've had price declines that the work continues is that a fair characterization and we're still seeing development going on yeah we're still seeing things happening but it does make it difficult for a lot of companies when when things go down to you know a fraction of what it was when when you're down you know some something like ninety percent eighty percent it's a lot it's a lot for companies to be dealing with and it really changes their plans of what they do with people still plugging away there's a lot of institutional money coming to space right now and it really shakes up people don't grasp what's really coming here and just in it only for the market pricing really that's all right so since you're and if their income matter i would

behoove me to ask you about the theory and you know it is a coin that folks are caught saying they're not necessarily encouraged by scaling possibilities you have the crip the case seems to be a fair application on it but is it worth the what's the row. on the theory i'm going forward how do you see that i i'm not so sure i'm not so sure i haven't been following it very much recently and because i support so many of the products that we do it's very difficult for me to be keeping track of what's going on with many different ones i kind of leave that up to those guys doing that there's definite scaling problems right now and there's other projects that are trying to solve that and syrians trying to solve it itself but. i think over the next couple years skilling problems will be will be figured out and i think right now it's holding back a lot of the benefits that we're going to see from these technologies because there are scalable right now but i think these problems will be solved there's tons of projects working on scaling and working on different types of platforms and infrastructures and i think that probably solves all right i heard you speak recently and he said something that stuck in my mind you said that essentially

crypto is all about wallets and wallets are like browsers are the internet ok that struck me as being an awfully smart thing to say and since you're in the wild as a jacks and as jacks i o. write j x x and that's kind of like the that's the gateway out of this whole market is through the wallet and you have got this fantastic product that jacks but talk a little bit about that what you mean by that is how that's the processor for the space so the age of information that was the browser that really unlocked it for the masses that's what everybody uses to navigate the age of information to move information and that's that's the tool the interface for the age of value for what we're seeing now with the block chain space the wall it's how you manage to move value so it's an interface to the technology that the masses need in order to interact and be able to send and move value so that's why i say the waltz into into what the internet was the browser was for the internet it's what enables you to manage and move value and that's that's why the wall is crucial to all the different projects right and you also suggest that people who are buying crypto on

exchanges they keep a minimum of their crypto on an exchange and a move to a wall in a wall to lucian either you know cold storage or paper while that's the way the move forward were just to hear about this lawsuit with michael turpin after eighteen c. because they. allowed for a sim card hack if you probably know the story what's your view on that lawsuits so i had same thing happen to me that michael had michael's a good friend of mine i think that there are there in the past has been very difficult too easy for people to get access to people's accounts through the phone company and it's happened pretty much with every company here in canada i've seen it happen to friends of mine and i think it's an issue i think it's good that michael is trying to do something about it was a lot of money that happened with that and twenty five million yeah it's a lot i'm hoping this has caused some changes because they have a person for mission these phone companies and i think that's a bad model but it's the way it works things work right now and i think that they need to be put on notice that they need to protect our identities and you do

a better job of things i think i've seen movements with some of the companies here in canada where they've added things like voice print signatures and things like that to help improve those security systems but it's something that should be focused on and i think it's if one good thing that's being brought to attention how is the regulatory environment in canada. unclear it's hard to have a business here in the space to know what you're can and cannot do when you see a lot of companies that are going offshore and doing things in the caribbean countries because they're little they're worried about what might happen here so that's your jurisdiction shopping where companies get up and they move they go to the jurisdiction that they want their business that where is the place to go these days it looks more must favorable to. my company i don't do things that require the regulatory issues i don't hold on to customer funds and i don't do i see oh so those are the two main things that are causing people to go elsewhere is when you have to when you're heavily regulated because you can't comment on the ice. period that we had all these clients come about what i think it's

a great way to raise capital but i think it leads to a lot of projects that have gone up which possibility getting off the ground in a lot of people are going to get hurt and i think that happens but i think the ability for someone to put and decide where they want to put their money and should be allowed it she should be able to have the right to do that and i think that's that's without should be but people need to do the. research and educate themselves and dixon expected that these are highly risky things and you could could lose their money so right ok fair enough let's talk about the central because this is where you really focusing all of your attention the through our it's all happening for you talk a little bit about it sure so the central is my company it started off as a space i'm trying to set up in two thousand and fourteen when we were when we were launching a syria and the central makes jacks would think of decentralized company and jacks our flagship product but there's other pieces of what we're putting together including hardware device. cards these things that help make make. make these technologies or get them in the hands of the masses and make things simpler and easier so essential is really the idea we have to bring people together we support many many different projects it's not about just supporting one or two

technologies and our goal is to unite the communities provide the tools of the masses can actually be using and that's where the wallets come into play at this massive decentralisation in. the big standard by say it's about replacing the central bank system with the centralized bank system and that's a decentralized network and this is the way you know you from what i understand you are very interested in the what's called the freedom movement aren't afraid of. media that was prevalent now for fifteen years and a lot of that is the decentralization for people that might be coming to this fresh how would you describe that to them so for me i think individuals are the most important thing i think the personal freedom and liberty should be have something that that everything that that base everything around that's right who is trying to do things that are going to create more liberty and more freedom for people and that's why we create tools and technology that uses decentralized systems and brings that gets in the hands of people my goal is to create

a paradigm shift where users can be in control of their lives not having third parties being control anymore and i think technology is emerging that's going to an emerging that's that's enabling not and it's we've had to trust third parties you know since the dawn of time since and now these technologies are coming in that are going to. helped replace the need for middle costly middle man intermediaries and third parties and it's been my my child my gold suit to bring the tools that are enabling not again not a recent presentation you made you talk about the incentives of decline and how they're balanced and how that creates the magic if you will of this and hard money that's competing with banks and for the first thing that's computers in quite some time and that also could be described in terms of game theory and that you know everyone is trying out game everybody and the something like a greed factor is pushing miners to mind more and and it ends up with everyone benefiting it's so that kind of behavior it seems to be migrating to the state

level where states now who are finding their currencies under attack are looking at crackdown and is that was that kind of hard baked into the protocol from day one and it's a toshi kind of invision this is it is it an obvious development given the shortcomings of turn city and where where is that headed in your view i think in the sense of that's because the base of every new because you're incentivizing people to put resources into a platform and they're earning something of value in return for doing that putting that computing power in i think it's an amazing model i think game of flying systems and even government and the way that we that we interact i think is a really smart move i'm a big fan of game of occasion we've hired actually the. give efficient group the world to be our chief experience officer and everything that we do is about how do we incentivize people to do good how do we incentivize people to do great things and that's kind of a big part of what i do is give ok so a set of eyes and people to do good versus incentivizing people to be greedy right

there's a there's a notion especially in keynesian economics spirits that it's all about aggregate demand it's all about getting people to go out there and spend and willing to go into debt to spend now here with the hard money substitute like bitcoin it's. actually about hotaling or it's about saving it's about individual sovereignty and that does that lead to good in other words what comes first i want to be good and i end up saving and hotlink decline or i save in a hostile bit coin and i end up being good i mean a bit philosophical but what for me i think it's from a saving that's right i like saving it's not about toddling to me and i think for me it's always been about recognising where i can create value and take what i'm earning it in and give back to the space here and so i take what i have made here and i'm consistently putting back in to keep building up my companies and trying to create value it's all about value it's right and the value creating up here in toronto is incredible and it's great to have you on the show thanks so much for being up has reported me already well that's going to do it for this edition of the

guys report with me my guys are safe and everyone thank our guest anthony oreo he's the c.e.o. and founder of the central and jack's going to wallet at jack's. if you want to catch us on twitter it's kaiser report and so next time i'll. when the lawmakers manufacture consent to student of public wealth. when the room in closest to protect themselves. with the famous merry go round lifts only the woman posts that. we can all middle of the room six. million real news is.

when a loved one is murder it's natural to seek the death penalty for the murder i would prefer and it means to live the death penalty just because they think that's the fair thing the right thing research shows that for every nine executions one convict just found innocent the idea that we were executing innocent people is terrifying the is just no way to present them that we're even many of the times families want the death penalty to be abolished the respect the death penalty here is because that's what murder victims' families what that's going to give them peace that's going to give them justice and we come in and say. not quite enough we've been through this this isn't their way.

and i finally ended up the non-surgical could have let me now cause it but i live on thousand feet the point about. finding you feel you wouldn't be that easy to find a friend out in me. is that going to see plus to people. getting. good odds that it might have been love a little bit wiser but not that i don't know what the. i accept that i don't have money coming over i'd like a little bit but i'm not going to jump on any. business blunders like lose. some buddies of. the sea. you can be no problem.

if. the taliban reign dahlan missile also in central kabul hitting the presidential palace during a line but transpired the bigger one some day had proposed a cease fire. so in our headline stories this hour is the syrian army gears up to retake the militant held enclave of italy western media outlets warn of a civilian must occur the same i'd let's go feel to mention the area is under the control of jet hobbist groups accused of war crimes. young russian boy whose mother is severely ill and in need of difficult to obtain medication appeals to locals in

his city to help.