and chase mer just recently and this whole backed scenario with the new york stock exchange she billie's it's about the financialization of decline and that we're going to start seeing unbacked paper bitcoin claims coming into the market and corrupting that price discovery like we've seen in gold and then there's a couple of ways that this could go or could not go any thoughts on that i have not had time to since i pod cast yet but i've talked about it myself as well i actually don't have a big problem i don't believe that there is a conspiracy driving the price of gold down because i am capable of trading those futures i can short gold with my twenty thousand dollar brokerage account i can't buy a thousand contracts but i can buy three or four contracts with that money the thing is in the futures contracts of gold and of course there are more open contracts than the ability to over the gold but as maturity comes close those contracts

cancel each other out like a big buyer could come in and raise the price of gold i just don't see that as a conspiracy and the same thing will probably happen in biquad but it doesn't mean that is going to drive the price down someone could threaten to deliver that's why i call it it doesn't have to be the delivery of gold or the livery of well the wrath of the delivery of the big size so if someone comes in and buys to read thousand contracts on bitcoin you don't know if they have the bitcoin to the liver or not a d. exchange probably does if the person doesn't have the ability to deliver the bitcoin but they have cash in order to keep the margin on that large position and they will just cancel that position against the guy in the other side doesn't have the ability to accept all of that bitcoin so i think it's still pretty. air price

discovery i always go back to the most manipulated market in a world as diamonds you want to make diamonds a more legitimate price discovery put it on the c.m.e. give it futures markets let the average person speculate as wow and then we'll see real price discovery i think the price discovery on gold is fine people just i couldn't hear any more to that point if there's such a huge discrepancy between the naked short sale of an artificial price and the true physical price why wouldn't someone take physical gold delivery of their gold on those markets and force that price discovery and close that gap i mean there's a huge arbitrage and if that exists you know that's like free money so usually if there's that much free money around people would go grab it because no one really wants to take delivery of one hundred tons of gold but if they're making a ton of money lots of money on them could be worth a few billion yeah and you can collect that billion when you cancel out that contract is almost like oil like i can trade oil contracts from my living room in new york just this is only as i can trade gold contracts in short oil like in long

or oil i was a day trader in the futures market just from my house as an individual and the exchange you know was i can't they one futures contract on the oil is a thousand barrels of oil they know i have no ability to accept delivery of a thousand barrels of oil in my one bedroom apartment in new york city they know that's not going to happen they also know i have no ability to deliver a thousand barrels of oil because i'm living in a manhattan apartment to know my address so they will make sure that if i don't sell my position on my own a week before maturity they will sell it for me and they do it the same way for others that they the are matching people up you know you of just the bane of the lambo buying crowd you know because for many years in the crypt a space the maniacs who are making a lot of money on the trip to space all coins space they claim made a move from one thousand to twenty thousand almost in one year back. twenty

seventeen year technical analysis which are very rigid about the bang what you see in the charts you don't let that your personal bias get in the way you know you have called this bear market that we've been in but the lambo people are always complaining. how do you feel about that in a year if bringing a lot of unhappiness to the would be allowable buyer yes i actually embrace it it almost tells me that i'm kind of a riot like the more people tell me how bullish we are. the crowd is always wrong you know the massive seen enough of the markets and one bitcoin biles to have six thousand and it started making its way back to ten thousand somebody baited me into a big bat saying it would never fall below six and i took the bat took the big public bath and there was a twitter poll saying what are the chances i was going to win the bat that is going to go back down below six thousand and seventy percent of the people said i was going to lose the bat and i know at the moment i saw that poem like great this

means i'm going to win the bat because the majority will always be wrong and the price went down to below six dollars and we hit fifty seven fifty people are still you know over bullish at the moment i'm hoping that the price will only come down to five thousand but it's possible it can go even lower there needs to be some pain i think we overshot to the upside big time in twenty seventeen and we need to overshoot out of the downside of the beast a little bit they know interesting in this market you know you have almost a built in upward bias because every four years or so having so that number of coins that come into the market is have so supply is constantly shrinking and something that safety writes about in the classic now classic bitcoin standard is an amazing book and so you have an upward bias what do you see you know he talks about it cannibalizing say out money and you know you end up with price predictions as a reflection of global for. action for excess five trillion dollars

a day if they claim gets one percent of that i remember rick fox niña in stockholm tell me in two thousand and eleven he said that they claim would get one percent of global for x. which implies a one hundred thousand dollars for a coin price as this would be a long term chart look at the long term chart of what are your thoughts absolutely i think the next having which my best guess will come in around may of twenty twenty i think that's going to do great things for the price a bit quiet but it's still may of two thousand and twenty but how do you trade it because we've had to having people traded into it that you're a trader tell the people what to expect people are going to trade into having the same exact way they traded into the e.t.f. announcement the same exact way they traded into the. futures announcement traders are going to want to up each other while at the last having the price of bitcoin doubled between five and two months prior to having with the days

before the having the price had already peaked and that started to come down i'm expecting right the some bird november the summer of two thousand and twenty the november december of twenty nineteen two dots when the having is going to be all the rage and traders that i want to preview on trade and i'm expecting huge things for the price of decor and going into the year two thousand and twenty with the expectation about this other rumor would apply to the have an absolute and you know there's in the markets there's the january effect where people of course there's a january bump because people are tax selling at the end of the year and you can trade that but it moves every year because more people get into it so what happens is to a rolling january effect so this having that you speak we've had one but you say in the order to maximize year trading profits you need to maybe discount for the fact that a lot of people are going to be playing this game yes and they're replaying it and i think a lot. or they got in early and they got out early and this year they might get in

even earlier and get out even earlier that's not so they're all going to want to preview on each other so i can see the price starting to go up in the twenty nineteen but already starting to fall in like march with the having come on into may and then there could be and if it sells anough and this is what people have to realize it's hard to predict so far in advance if we start going up too early we can peak in march by the time the having comes in may the price could have already bottomed out and the having itself could then cause the buy the like the shirt that i'm wearing on the flip side if the selling of the news comes on the day of the news like what happened with the c.m.e. of the you're not going to get that chance to buy the dip on the news it really depends how the price gets to what it is not what the price is going to be but at what time did it peak well as allah's cental adding fascinating

alan bennett because i bought my first pair coin in two thousand and thirteen takes a listening to you and i spoke of my very first conference in q one of twenty fourteen and started appearing on you tube shows of other people in two thousand and fourteen going into twenty fifteen like on the from there it's got the channels you to clarify follow them learn something for a change you fricken lamba degenerate and that's going to do it for this edition of the kaiser if you are with me max kaiser and stacy everett like to thank our guests on days if you want to reach us on twitter it's kaiser report until next time.

thank you. lou. i. was. just.

i think i will i think i think. it will be yes you know. just for your height i lost his boss because you got that you just part of the media which was you know. let me put your money in my power though she doesn't put the pressure on us yet a lot to go to show your true mother when i mean what i thought i mean by doing good anyway. showing us you know what i was you know. not just i mean what almost what i'm already put a respect up i mean just go to. a checklist i have a lot coming up from all the others and if i get

a lot of. these. and then the up on what i think there's a must go. with. them because i give me your. place. i always had a were do. my thing with classy equal kind of woman you just bumped into already yes it westy and you know the thought of getting up there calling i think. it's in the square focus on the board so i don't think i. go out looking what i mean by that anybody would accommodate you when they were there obviously but they have been.

in the eighty's metal and it was considered one of the most crime ridden the patients in the whole world it was here the drug lords. the infamous cartel gang made millions of dollars selling to. cain and its leader killed anyone who stood in his way even though the cartel was responsible for thousands of deaths happening remains a popular figure among the country's poorest people in some parts of the city he was even known as colombia's robin hood. medal and is also home to a close friend of ask because they call him papa he confessed to murdering two hundred fifty people and organizing two and a half hours in killings he spent twenty three years in jail for the crimes. that popeye hasn't become an outcast in the city where he once killed on the country he's very popular styling himself as a blogger and political activist who came to madeline to meet him to try and understand this colombian paradox why he is treated like

a superstar. i must admit i was very nervous before a meeting. at least by the. end of the interview to leave behind the last player but really nothing easy. to. say oh you're. the police you're way out of the security you're the sort of. that i'm you don't leave those. estimate pre-marital. risk doing this to leave those limits are in a large problem you describe the media. understand you're ok i just know you're going to me that. was a. mistake. so it is.

merely the i got that i mean. they start out a complaint you see is there you know they're moving both the e.p. nina. but i cannot is that other complaints a little bit about it but the media. is going to be put on by the. say was. like get out with. ningaloo not again he says you could mean a little moon do i have got into i want to start. kenya to squat in topple he has yet to squander to bust up what is the sky just what i need is that then processes will put us on a given list on television as you know and you nationally and we are most a policeman we've been no better to lead us.