everywhere as we have to two hundred fifty three hundred fifty five hundred percent debt to g.d.p. this is the planet on the verge of a major tsunami of judge. us national security adviser says washington will review wait three great minds that leave america exposed to the international criminal court powers on to the same body who does washington to lift some of it's a wrong sanction. the british prime minister attempts to don't solve flouncing pressure as to resume a gets a letter of no confidence from the in party members just moments before giving a speech. and making big politics with energy president putin suggests don't trump should take a no can remember to find out who's responsible for the rise in oil prices.

check out our dot com for more on the latest headlines coming up now on our international is because as a reporter in the u.k. and ireland they change the boom boom. all right this is going to be dry as a report today one. that's right we're in los angeles stacy the part of max kaiser will be played by a stunt double slacks minus or slacks misers a big troublemaker in fact max we are in hollywood if it weren't so smug you would be able to see the hollywood sign up there but of course this being los angeles it is filled with smog so you don't see the hollywood sign. c.g.i. . actually there has been like record levels of smog at the moment so

i'm phil innes everywhere in the world is having record levels of of everything well there's record high temperatures low temperatures all time highs and stock markets all time lows and interest rates stand druckenmiller billionaire hedge fund manager he was out saying that massive debt fueling the next financial crisis so he sees the record levels of debt just like the record levels of smog and climate change and heat and exhaust and carbon emissions and all that sort of stuff everything is at peak everything. in every possible category or at the extreme earth's carrying capacity for human beings as reached its limit the stock market training of all time highs the debt load peak everywhere as they head to two hundred fifty three hundred fifty five hundred percent debt to g.d.p. this is a planet on the verge of a major tsunami of debt and wiped out and catastrophic nightmarish behavior there's also

a bit of brinkmanship going on everybody's kind of like it's kind of exhilarating to look at how much debt we can pile on how much carbon dioxide pile into there how much smog we can put in there how many people we can put into one city how much prices could rise in the property market stock markets and stuff and another brinkmanship story that happened on our way out here to los angeles we had pretty recorded an interview with fire stein of plan a ponzi dot com and it was funny because he said that iran mosque of test was guilty of securities fraud and lo and behold like two or three days later of course the f.c.c. has sued him for securities fraud partly because of brinksmanship because a lot mosque was negotiating with them and he decided he wanted to just be challenge them so you know i was talking to johnny. the viper room and you know ellen is a friend and he's really taken. listen to that extreme that it needs to go to express the people's guys in terms of the representation of equity in our inner

being and i talk to johnny in his next role he wants me to be in my original bar nine. men and possibly considering this is all going to be taken place on wall street the pirates on wall street is going to be called i'm writing the script and just so you know the last time max lived here was like two thousand and that's why johnny depp was huge back then and the viper room existed johnny depp is actually going to be playing matthew mallon one of the three races in a film so he's a crypto guy and i was a friend of kaiser report until he passed away but i also want to talk about the brinkmanship that's in the headlines this week let's talk about real financial news max and some economic stuff happening in the real world this is not fiction this is not fake news agricultural exports plunge jump accuses china of meddling in u.s. elections so the change deficit widened by five point three percent and all this despite i guess because of the trade war agricultural exports were down nine point five percent from july and a whopping fifteen point two percent since june now the interesting thing is that

china or the china daily which is the chinese government. you know news outlet they took out a four page ad spread in iowa basically telling the iowa farmers that it's because of trunks dual you know his his war is trade war with china that their exports have plunged straight so i guess following up on what he was saying last year which history emerges and markets all ism so what is i mean in other words post the best work until this period of the nineteenth century went into more of a monster as a global economy run by central banks and they were able to exert influence by adjusting interest rates and by printing money but now we're at a new deal mercantile experience so the fact that china is taking out ads in iowa newspapers reflect about that because it's going to be more trade for trade basis with the. out the kind of influence the central banks have because central banks are not really in

a position now according to charm this is really trump business is thompson economic model he wants to get rid of globalization is at the u.n. and he's saying i want to take us out of all globalized institutions we just want to go trade and go bilateral we want to do individual deals and so something like that reflects this because china is saying you know what we have to come up with new strategies to exert our influence in the global trade so taking ads out and i would use paper where as they used to maybe adjust interest rates or a movie when their currency down you see that that's now that's passe that's not really in keeping with today's new deal mark until this model and i don't see the problem with taking this to the people letting that because we are in a globalized world the hyper globalized world the farmer in iowa is selling to people all over the world consumers all over the world not just in iowa so donald trump tweeted about these these ads taken out and they deem one measure sir he said

china is actually placing propaganda ads in the day when necessary and other paper is made to look like news that's because we're beating them on trade opening markets in the farmers will make a fortune when this is over i think you know just take it to the people and let them decide and let them hear both sides of the story and find out what's going on i totally believe that your most prized precedes news and fig price is perceived as a problem with monster ism as the end up with big prices and you end up with a glut of fake news but if this is real neal mercantilism we're going to go back to real prices in real news so i think it's a reversion to the mean of trade as it's really been going on in the planet earth now for thousands of years and i went to net suite on to the latest fed you know raising the rates by twenty five basis points and chairman drove house spoke afterwards and there was one thing that i picked up on in terms of something that you and i have noted over the past few. here is certainly leading into the twenty six thousand election when obamacare prices soared and how that might have impacted

the electoral system and the electoral vote of course that has not been discussed because. you know we all know what has happened to cable news and the mainstream media here since the twenty sixteen election they've basically become days of our lives or general hospital or some sort of soap opera and it's nothing gets discussed but here joan power points out something quite interesting the fed's not backing off towels standouts and zingers at the press conference asked if fiscal policy the ballooning deficit after tax cuts and spending increases comes up a lot at f o m c meetings drone house said because he was asked about fiscal policy and he said it doesn't really come up it's not really our job we don't have responsibility for fiscal policy but in the longer run fiscal policy will have a significant impact on the economy it's no secret it's been true for a long time that with our uniquely expensive health care delivery system and the

aging of our population we've gone on an unsustainable fiscal path for a long time so he's saying our economy the united states' economy is on an unsustainable how do to health care costs do you see this discussed and you would think that. the fact that the u.s. is on an unsustainable path would warrant a deep conversation on fox on m.s.m. b c on c.n.n. on the main news channels here that what do we do about this how do we stop this unsustainable path how do we stop these health for health care expenses what do we do but we don't see that conversation ever happening on the news here which is why you have well yeah i mean i think you're right this phrase unsustainable as an interesting phrase coming out of the central because their job is to cheerlead the economy and to always talk about the optimistic future and some never mention it. negative whatsoever that's the new role of the fed so to talk about an unsustainable path is remarkable in that regard and it's interesting that he lumps

health care in with fiscal policy therefore legitimizing the idea that obamacare is a tax it is a tax and it's an unauthorized tax and the corporations of america under the constitution it's not legal for them to impose a tax on americans but it's more than just that it's the entire health care system you say even people who have a job at some corporation and the corporation provides you with health care that is not obamacare because this next headline also shows you know one of the problems that has happened in america why we have two thousand and two thousand and one crash why we have the two thousand and seven to two thousand and nine crash why we have this upcoming massive debt fueled financial crisis a standoff in miller says it is part of the reason is that in concept not bank going provides the you susan.

welcome back to the kaiser report imus ties are time now to turn to michael turpin of calling agenda bit angels and transform p r michael welcome back transform group based in seattle and group i take it that he ours puerto rico it is a mess our you are all ok michael jordan thanks for coming on a big story here we want to get into it that you recently have twenty five million dollars worth of crypto assets stolen from you and your wife tell us exactly what happened how did it happen walk us through the crime so there is unfortunately been a big issue it's over a billion dollars now and counting where the major telephone companies a don't tell you that there's extra levels of protection available and then when you ask for them they're on even how they implement them t. mobile for example i got hacked twice last year lost a very small amount and one said what's the best level of protection you can give

and they all say they have these kind of secret celebrity accounts if we ask for them and they will give you a sixty eight digit pin that they say no one else can change. in t. mobile is case they also go and put a do not port eighteen to you about do that i don't know why you would do that but they don't and i still felt pretty secure when they said you're safe though you have the six digit no one can change it so i go through the porting crime like how does that work sure so how how sim jacking is what i like to call because porting sounds difficult and swapping sounds like you have a little party and swapping phones but now with sim jacking what happens is somebody in the in the earlier version someone would actually go into a store pretend to be you have a fake id and then say there you would have lost my phone and then they would go in and give it to their phone and as soon as they had that they had your digital life they had your digital identity and that's how in the earlier days of oh two or three years ago some people were losing thousands of bitcoins because they would

then get in there they'd reset passwords because most g. mail accounts e-mail. accounts all sorts of software exchanges before google too if a kind of became popular would be the way that you prove your you well if you give away without your permission your digital identity approves your allegedly you then they can go and take everything that relies on that right so you had twenty five million and took the assets held where were they where were these things these were not in exchange accounts i actually had all those protected bank vaults there and present larger sticks in you know safe deposit boxes makes changes all have to a famous last to have a but as you know transform group with a p.r. division we work with over one hundred digital currency companies sometimes they passengers will currency sometimes these are things that are not era c. twenty tokens if they're even assets and they have their own native wallets staking wallets they have to have it on that so these are still things that i have private

key is that are in you know encrypted accounts or sorry encrypted files but there are ways if the right hacker gets in and they can find little little hints they can find something if you cut and paste in something and it got auto saved into an invisible file or in a hidden file that's kind of what they found because again nothing what happened had a t.n.t. after telling me that i was secure with having this six digit. you know safety code what they didn't say was that anybody at eighty and t. can do a manual override and that's what happened is there any thought that there for lack of a better phrase was an inside job absolutely because that's what i would say is phase two of what's going on though there were in almost every case involving a t.n.t. in the f.b.i. investigations where i guess they were the criminal gangs of the sighted that is too much work getting a homeless guy to come in to pretend they're you and pay

a hundred bucks the see if you can trick somebody why not go direct to the source so they're actually go. going in through social media approaching people who have on their profile knowing that they don't have to do it out port and then say hey want to make all money and then pay them a big point we believe that's what happened here the gentleman is named in the complaint jamil smith than the in the norwich connecticut store nineteen you know has had a criminal record and since then has also been arrested for larceny and so you know that's not somebody that you should give the ability without checking with a severe ear to override your special protection it be the equivalent acts as if you went into the airport with your thing got past t.s.a. and all of a sudden it didn't work and they said oh that's fine we'll just override it you are in fact suing eighteenth a huge number out there like a big number it is in federal court jury trial and so the actual amount of the loss was in the twenty two and a half million dollar range these are all the coins they had the good lord a.t.t.'s

case the bad fortune to steal them on the absolute high day of all to point value this was the day the big point of all the markets had an eight hundred billion dollars mark so the particular tokens that were stolen had close to their all time highs but that's the value when they were stolen that's the value that they then were able to suck out of exchanges and turn into big points which were then presumably turned into cash this same hacking has been around for a while now these it's been an attack vector in the phone business for quite some time back and i wonder why have they been dragging their feet for so long is it just lots r.j. on their part that it's crazy because i mean at least t. mobile you know now has a do not port function this can be stopped immediately if all the carriers simply allow you to say do not port and it took you know several levels of effort to be able to support like you had to go in at the end of some period had to approve it

that's not what it is right now right so like with credit. you know you can lock down your credit for identity theft right let's right various preservation as it says they go through a process and so identity theft as it's warranted in this way but the phone companies don't have that in place that certainly doesn't right so they could be moving to something like that are there any others joining in the suit with you right now it is just me i've gotten contacted by many many people who lost amounts in some cases close to what i lost in one case actually more if you count the high value of bitcoin because they got thousands stolen in a similar hack back when because it was worthless. but this is not a class action suit first of all a.t.m. t. prohibits in their contract that you basically take it or leave it to participate in a class action suit they also prohibits you from suing them for any reason whatsoever including their own fraud and their own gross negligence we believe that's

a weaker claim the class action to get that thrown out would probably be a different set of circumstances than to get a judge which is actually happened in the case in a different instance not involving some jacking where a judge was able to say this is an uncountable part of the contract later that and i'm getting reinstated for that case but we believe that this is an important precedent that you can't just go in and have the ability to have a phone or not have a phone rust on you basically saying that a t.n.t. can do absolutely anything and you have to indemnify them for their bad behavior and you cannot under any circumstances have a jury trial for gross negligence and fraud so they could do a community i would think would be behind this because of the entire community is exposed. i haven't actually seen a lot of coverage on this is it is it something where are we in that are is it getting coverage what's going on well i counted we had about

a billion impressions of coverage the first three or four days. i'm in the p.r. business so i know how to break stories and let reuters breaking below believe that i got picked up by a lot of other outlets and by large has been very sympathetic and supportive coverage every now and then you get a social media group saying well it's going base is faulty show us your the business the big points better there were no big points and i don't have a point this out again it was just it was native in staking wallets of course twenty one million big going to be created when it's all done there's eighteen million or so currently in circulation they estimate that up to seven million have been lost in this similar circumstance going back to two thousand and nine that's a remarkable number that's thirty percent of total completely lost what we get lost and stolen are two different things who's of the stolen they're still around and somebody has them they may have sold the cash and then somebody else has them and somebody is holding that big point right now if they were if they were simply act

on the last part a lot of those come to the first ten million that you know happened in the first four years a bit going before the first having and wallets were not very secure back then people would go and mind them just keep on their hard drive the hard drive crash they wouldn't have a last ten thousand because we expect they're worth about ten bucks so you've been in this business really sense its inception i would say you know it's gone through all kinds of growth and we're at a level now where it's getting international attention international regulations are coming in you of course are in puerto rico where you believe that they regulatory environment there is quite friendly the tax treatment quite friendly but there are other territory's competing to be you know krypto switzerland so to speak i think malta making a big move can you give us an update on that what's happening puerto rico and globally where is the sweet spot if you will jurisdictionally for them there is sort of a competition going on now to see who can be the friend list of smaller nations

typically that want the business and then obviously there's places like india and china. are saying no we don't want anything crypto because we don't understand that we think it's just drugs and terrorism i think you know look china still doesn't have a facebook and google legal so they're not a good model to say what the future is going to be we held the quote agenda europe this summer our second one in baltimore we had the prime minister come in deliver the opening keno so that was a pretty strong statement to have a prime minister of a of a you know of a nation to come in and go to a crypto investor conference and put reiko the government as they saw warming warming to this presence of the crypto you know billionaires as their call their you know i mean it's it's been mixed coverage in the media i think which is which is quite frankly because there's a very small party called the independence party it's about three percent of the vote but they don't want anybody american there are they they go and march in front

of the vanderbilt and say yankee go home and you know that that's unfortunately been sort of the loudest voice whenever they ask for an opinion from the other side both of the major parties have been very supportive both the party that they voted in fact former secretary economic development alberto bako is going to be a keynote at our coin agenda global event in las vegas october twenty third twenty fifth right after money two thousand and twenty and so. i believe that puerto rico has a unique opportunity to be a leader they were kind of waiting for the wyoming build to be passed. and i'm still a proponent that they need to kind of copy and paste wyoming is done cable along who started that will also be a keynote speaker and that's where the states say we have the rights and i think it's even more to fight in the territory to be a basically say we want this here now you are big in the i.c.l. space the initial point offer you mentioned tokens get tokens here and that

certainly had a small choice year the past year where we went the i.c.l. business so right now. america has been very i would say unfriendly but they've been unkind they they are not letting you know what the regulations are basically the f.c.c. is kind of going in you know making individual statements i'm putting out statements saying this only speaking for me and not for the other members of the s.s.e. so if you look at s.c.c. dot gov there are no rules they're simply interpretations of lawyers and most of them particularly in the bay area in the york are very conservative so that's scaring away a business that started really in america to offshore so right now in general most of my clients are going and they may have an operating company that's of delaware corp or i like to do a puerto rico or. and and then do their actual crowd sale in the cayman b.v.i. barbados one of the caribbean countries if you're north american. asia though the

big hub spot hub has been singapore well the next event coming up next event is quite engender global october twenty third twenty fifth of mandalay bay perfect michael tarpon thanks for being on the kaiser report thank you that's going to do it for this edition of the kaiser report with me max kaiser stay server like our guest michael turpin of going agenda bit angels in transform group are going to catch us on twitter it's guys reports on bio. americas a house deeply divided and that division only continues the entire brett kavanaugh saga has turned into blood sport demanding each and every one of us pick a side we're in new territory and that place is called winner takes all. goal make this manufacture consent to public wealth. when the right.

closest to protect himself. the prime. nor middle of the room. on welcome to worlds apart at them haste repent at leisure that seems to be the

international community's mojo when it comes to leave having enforced regime change in two thousand and eleven so western countries lobbied for a stillborn political agreement in two thousand and fifteen and now push for nationwide elections by the end of this year is libya ready for yet another exercise an expert democracy to discuss that i'm now joined by. former ambassador to the united arab emirates and the country standing candidate for presidency mr mayor that's good to talk to you thank you very much and welcome to moscow thank you very much and thank you for now you've put forth your account of this not only before the elections were formally announced but even before that a legal framework of the constitution has been agreed upon realistically speaking when do you hope to see your name on the ballot. first of all i would like to say that the very act of announcing candidacy was a deliberate political act that was meant to encourage the holding of elections

quite frankly i think only just in this is in libya have deteriorated and have fragmented and it is extremely important that we have a renewed legitimacy of a presidency that has the vote of the libyan people and that is why. i did announce the candidacy quite early in march as a matter of fact and you did hope that the elections felt pressed yes indeed and i think that that was.