russia responds to western accusations it's been carrying out dirty cyber activity calling it an all can straighten propaganda campaign. america holds its breath awaiting the outcome in the bread canon a case the supremes court nominee accused of sexual misconduct all the scandal could happen and again expected impacts on the looming midterm election. and amid an escalating trade war us vice president might claim that china is trying to ensure the replacement of trump himself to beijing and all the oil imports from america. my colleague maurice to say has more of the latest news for you next hour coming up next as the kaiser report.

all right this is going to be dry as a report one. that's right we're los angeles stacey the part of max geyser will be played by a stunt double slacks monster misers a big troublemaker in fact max we are in hollywood if it weren't so small 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. 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 one tsunami of debt and wipe 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 could 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 prerecorded 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 challenge them you know i was talking to johnny in the viper room and you know ellen is a friend and he's really it's a can tap. 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 left me to be in my original mar nine. possibly considering this is all going to be taken place on wall street the pirates on wall street's 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 in the viper room existed johnny depp is actually going to be playing matthew mallon one of the races in a film so he's that 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 we were saying last year which history emerges and markets alyson 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 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 markets all this period so the fact that china's taking out ads in iowa newspapers reflect the most because it's going to be more trade for trade basis with the. 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 trumps 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 what 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 is you end up with big prices and you end up with a glut of fake news but if this is real neo mercantilist i'm 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 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 f. l. and 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 us is on an unsustainable path would warrant 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 bank because their job is to cheerlead the economy and to always talk about the optimistic future and some never mention any. 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 of 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 to stand talking miller says it is part of the reason is that in concept not bang going up america's twenty year shift people are getting paid less in cash wages salaries and more in benefits in large part because our health care system is still so expensive so over the past twenty years companies and governments have been paying their employees more in benefits and less in cash wages and salaries and that's

especially the case among people who work in the highly unionized public sector the big picture of all the different types of benefits the cost of health insurance has consumed the most of the average worker's compensation representing eight point two percent of a dollar in pay today versus five point eight cents of a dollar in one thousand nine hundred eighty that's because the u.s. health health care system is so expensive price and they're churning cash for benefits and the problem there is that i can convert my benefits into gold with hard money and savings so i don't have no economic sovereignty yes they don't want me to give me any cash because i would put some of that cash into gold and i would have economic sovereignty and. and insulin dependent but that is to be shunned and every. every every step of the way because we are to be beholden and we are to be enslaved by the system well health care eight year raise is what they said because a lot of people have said where has all this productivity gone a lot of it has been captured by shareholders and the c.e.o.

class and the executive class but the fact is that it's also being captured by the health industry that which is part of the fire sector the finance insurance and real estate so it's capturing all your gains but that doesn't get accumulated you know if we spend twelve thousand dollars a year each on an obamacare health insurance policy it's not like that seems for us is not doesn't it just disappears into the pockets of the health care executives that's extortion it's essentially extortion they should change fire economy to hell fire because you need the h. for health care health finance insurance and real estate best the new economy well the fire health. that's lilly and i was just well we have covered this pretty extensively that the the the the integrity of the economy is being undermined by the economy and larcenous to behavior of this all got plea well shake down economy storing every chance they get without any pushback by congress or congress is involved in other shenanigans and it will actually do anything worthwhile and in

the last thirty seconds here max i want to say that in fact our obamacare premiums are going down next year that was a shock and partly because they had jacked up the price is so so high the last two years so they made too much profit and they have to lower that because they can't spend it all every shyster in times square with a three card monte knows you gotta love the mark when a couple of bucks on the way out so you don't step in the next well we're back with a lot more fun and games here in hollywood right after this break so don't go away . quite frankly i think this is going to be have deteriorated pregnant and it is extremely important that we have a new digital receipt of a presidency that has the photos that have been people people who have aspirations like freedom indeed to have aspirations like living in dignity and quite frankly to

deny them the right to vote with the pretext that oh it's not time yet or you don't have bread so you should not be asking for the vote you should vote for people who will provide the bread and provide the services. welcome back to the kaiser report i'm asked iser time now to turn to michael turpin of korean agenda bit angels and transform dot p r michael welcome back transform group based in seattle and group i take it the dot he ours put radio it is and that's our euro ok michael jordan thanks for coming to a big story here we want to get into 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 six to eight digit pin that they say no one else can change. into mobiles case they also go and put a do not port eighteen thousand will that do that i don't know why it 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 the 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 in trip 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 in the us you know safe deposit boxes makes changes all have to a famous to have a but as you know a 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 now there were in almost every case involving a t.n.t. in the f.b.i. investigations where i guess they have the criminal gangs of the side and that is too much work getting a homeless guy to come in to pretend they're you and pay a hundred bucks to 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 you want to make all money and then pay them a big point we believe that's what happened here the gentleman who's 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 so you know

that's not somebody that you should give the ability without checking with a superior 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 eighteen today that's right 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 were 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 claims which were then presumably turned into cash this same hacking has been around for

a while now these they spent an attack vector in the phone business for quite some time and i'm wonder why have they been dragging their feet for so long is it just lots arjay on their part it's crazy because i mean at least t. mobile you know now has a do not port function this could be stopped immediately if all the carriers simply allow you to say do it up 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 put various credits ervice 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 and one case actually more if you count the high value of bitcoin because they got thousands stolen in a similar hack back in 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 happen 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 he 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 there could be a community i would think would be behind this because 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 it 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 quite a base is faulty should a secure 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 question 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 big going to be for the first having and wallets were not very secure back then people would go in mind them just keep on their hard drive the hard drive crash they wouldn't have a. ten thousand because which back then were 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 churches competing to be you know 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 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 the. 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 reckon they'll make development alberto bakos going to be a keynote at our corn 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 tumultuous 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 and putting out a statement saying this only speaking for me and not for the other members of the s.s.e. so if you look at us you see that gov there are no rules they're simply interpretations of lawyers and most of them particularly the bay area in new york are very

conservative so that's scary a way 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 in north american. asia though the big hub spot hub has been singapore well the next event coming up next the vote is quite engender global october twenty third twenty fifth of mandalay bay perfect michael tarpon thanks ray on the kaiser report thank you that's going to do it for this edition of the kaiser report with a match geysers day server like our guest michael turpin of going to gender a bit angels and transform group are going to catch us on twitter it's guys report the last time bio.

on welcome to worlds apart act in haste repent at leisure that seems to be the international community's moto when it comes to leave having enforced regime change in two thousand and eleven some 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 in the export 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 the 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 due to misuse 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 agreed and agreed in public in front of heads of state and the whole world community the paris agreement was blessed by the united nations and i feel that the dates in that agreement should be respected and the tenth of that december is the day of the election and i think you would agree with me that holding elections as early as possible would perhaps serve you well politically but you also know that there are many observers. in libya and abroad with no skin in the game who say bad because.