so withdrawing hundreds of thousands of dollars from banks in order to be protected if you got attacked on twitter when you mention this because people are saying well why didn't you report this because this is a salient point this is you had an eyewitness to what was happening to the crisis and that the crisis was maybe more. dangerous than it was being recorded and his comeback is that well you know i didn't want to cause a panic and this is where journalism has completely failed in many regards because journalism had a fundamental break in the seventy's we transition to gonzo journalism with hunter s. thompson in the new schools the new journalists and they rightly identified journalism as really immersive and there's more subjectivity then we were led to believe in the strict definition as presented by journalist journalism schools and that you need to let the audience you need to let people decide what is the irrelevant to them you don't need to filter censoring so john rother so censored himself he believed he knew better he believed to do with what the needs were of these folks

and that's self-censorship which is such a ship and this is completely wrong and this is why we have been sleepwalking into the mix when in actual crisis how john author has been a gonzo journalist had he been a proper. journalist had he not so censored himself as this next crisis unfolds people would be better prepared to deal with it but they won't be because of the failure of fake journalist like john authors so he actually kind of suggests that this is a dangerous time in the social media and that anybody would report on the fact that they saw all these bankers withdrawing their cash and blah blah blah but i want to show you that in fact it's the opposite that people the ordinary person the average citizen of the world news better because what happened at the very same time max keiser and i were in two thousand and eight march two thousand the a few months before lehman collapsed we witnessed a similar event in fact we worse because he's just reporting at me. manhattan

seeing bankers withdrawing their cash you and i. it was something like march eighteenth of march nineteenth two thousand and eight bear stearns had collapsed on the friday afternoon after the markets closed j.p. morgan took it over and. gold went to a thousand dollars that for the first time on that friday ben bernanke slashed interest rates by seventy five basis points on a sunday night so it's an emergency rate cut you and i had an appointment at the bundesbank to speak to the head of gold and we went in there we didn't announce our because we knew they wanted to cancel it so we just showed up and i had my camera running and what we witnessed was chaos and in fact we spoke to one of their publicists and she came down to greet us and she admitted like that they didn't they didn't know if they have the financial system would survive and that because of that that we definitely. himself had said that you cannot speak to anybody at the bundesbank specially the gold department he said so we were we were poor we

basically aired that. we aired that and we aired that they didn't have any gold actually that germany did not hold its gold she mentioned that she had no they didn't have gold in germany but it was actually in new york so what did the people of germany do did they panic did they freak out did where their bank runs despite hearing that they had bank was panicked about that they themselves a buddhist bank was panicked of the financial system was about to collapse they did not know if it would be there tomorrow or those were her words as well we did not know if it will be there tomorrow so no they took care of themselves they're prepared for the next financial crisis why because of our report what they did is they demanded their government bring their gold back from new york from the new york fed which by the way was ground zero for this financial crisis nobody but tim geithner was more responsible for the disaster and they react. but they protected

themselves they didn't so they were given information that they were not aware of they did not know they were not protected they did not know they did not hold their old code gold and they took it back for a day the trigger of the repatriation of germany of their gold back from new york to germany and then holland did the same thing and a lot of other countries have done the same thing so this was honest reporting that was needed to be done to let people know to pressure their governments that they were exposed to financial crises by not having the gold that the government so they had and so if it was john authors he would have thought you know what i need to protect the establishment i need to protect my job i will report the truth i'm going to be an embedded journalist for the lackeys on wall street in the central banks and that's sad and his career has been tarnished irreparably because of that well of course we're at a crypto conference cryptocurrency it's ten years as well since the white paper. published his white paper or her white paper or their white paper in october two

thousand and eight so this was this is our response to the financial crisis and there was one comment he was sent that i want to read to you as well because i think it sounds a lot like perhaps. but it wasn't but it sounds similar somebody wrote i have really read the article and the comments a few times and i realized that it actually makes me want to vomit as i realize what a divide there is between you and i between the people of the establishment like yourself and the ordinary shmucks like myself the current system is literally sickening and was saved for those who have something to protect at the expense of those who they are exploiting so that information gap perpetrated by embedded journalists who are betraying the job of journalism and we've seen this spectacularly play recently with breaks in the u.k. where. financial catastrophe was not spelled out it was it

was simply ignored and we tried to tell the people about it when we were in the u.k. we met enormous resistance. but there was a gap on the other side max there was a gap on the other side i think it better explains the trump situation is the mainstream media the establishment media loved hillary clinton's line of america's already great the people liked his line of make america great again because they felt that america was no longer great the same thing in the u.k. they were told by a member tony blair standing up there and saying there were no immigrants nobody was moving into the united kingdom and yet millions were moving in millions were moving into sheffield and manchester and and birmingham and places outside of london and so the people could see something that was absolutely denied on the mainstream media now i myself personally am happy with lots of immigration i don't

believe in any borders actually but nevertheless those people are concerned about immigration and. in the u.k. right now you've got to. insisting that the to responsibly needs to take the u.k. seriously negotiate in good faith this is the same with britain germany is not going to negotiate in good faith with the u.k. i'm sorry u.k. but i can special but i'm talking about how the financial media reports and what they're reporting on and the fact is that like this this article points out when the next financial crisis happens right now especially i'm not going to know nobody's going to be prepared in america the population is not being warned because there's like this political craziness on mainstream media i mean the cable news is just filled with a crazy guy i mean this is truly insane it's hard to describe if you can't watch it . if you're outside america but it's crazy conspiracy theories about you know just

about political gossip so nobody's like discussing the issues that were the foundation of the vote this sense like that guy who wrote to john authors that the one thing to vomit because they realize there's a divide that you the media are one on one side you're part of the establishment you're part of the elite you're protecting your friends and even if that means lying to us ok and again here john authors u.k. that's the origin of the term term a white man's burden on the aristocracy feels that they have a responsibility to the clubs of the world that they know better and as a result they give a party line that represents the political reality as being joyfully egalitarian when it's a friction caste system as sharp and as pronounced as you find in india and you've

got permanent underclass in the u.k. and that's not going to change as long as there is a monarchy full stop and i've got to take a break and be back don't go away. when a loved one is murder it's natural to seek the death penalty for the murderer i would prefer it be the death penalty just because i think that's a fair thing the right thing research shows that for every nine executions one convict is found innocent the idea that we were executing innocent people was terrified to smooth hasn't been that we're even many of victims' families want the death penalty to be abolished the reason we have to keep the death penalty here is because that's what murder victor. families what that's going to give them peace

and it's going to give them justice and we come in saying. not quite enough we've been through this this isn't the way. to what we've got to do is identify the threats that we have it's crazy going from day shouldn't let it be an arms race off and spearing dramatic development only closely i'm going to resist i don't see how that strategy will be successful very critical time to sit down and talk. this is crude oil. soon they need to actually physically hold it out of the ground you would have well well well well well well.

there's a lot of money with fuel oil and with that comes. a lot of a lot of people from all over the country. if you don't make a hundred thousand dollars a year. as a minimum there's an issue. here in the. they were told sixty dollars a day it's hard work for the workers not used to work and so they want to relieve their stress of how do they relieve their stress these men need that outlet these men believe that comfort many. people have been murdered up here people been raped they're massive drug issues up here you have a boom you have everything else that comes along with money. and you know. coming up out.

in film penn there is a trade in young girls sold into an underground sex in the street sometimes by the people they trust the most. welcome back to the kaiser report i'm nice keyser time to get. all the way in from

alina welcome thank you back thank you my ex you know you're becoming a pillar of the community because you brought to market something sorely needed the hardware wall and the treasurer and it's become almost an industry standard i'll get to that a second now you spoke in the first a crypto springs about the security of the sovereign hoddle or not so first of all what is sovereignty and who is the sovereign hoddle or. how it's a very broad question will talk to me about individual sovereignty what does that mean. you know for me it means. the capacity. on the. whole i told when i do that and on which. pretty much you know i come from a background you know. some people from ok this was a question you know here in the conference you told

a story about why individual economics means so much you don't normally tell your own personal story but it touched many people here at the conference and so if you can you know just kind of go over the street because i think it will resonate tremendously with our audience so i was talking i was opening to. me being born in a communist socialist country. where there was no freedom of speech no freedom of thought and no freedom of movement where people were put in jail for speaking out speaking out they were shot. at the borders when they tried to escape the brutality of the regime and so for me personally freedom means means a lot to beat quine when i discovered quite an i.v. . tool for me. to realize my complete freedom. because if you don't have a financial freedom and there are companies and structures that can prevent you

from from economic freedom then that's a that's a problem for me. the final tool to establish complete personal sovereignty economic idea because you have a lot of people in america who go under the label of social justice warrior they want their freedom to express their sexuality they want their freedom to express their gender preferences but they never talk about economic freedom and never talk about their freedom to. hard money like. money like the dollar while on of the freedom minded social justice warriors completely incapable of taking on this concept without economic freedom there is nothing after that. experience and maybe no leech of history that's maybe lacking a little bit or just what's happening beyond my own country and i think it's really important to look outside for examples how things can be really

go. freedom for granted because i've never known anything else you know western europe and in america are like living in a kind of bubble because people here we like this is a status quo and we take it for granted that we can actually go out and talk we can actually have a banking relationships when we want but that's not the case everywhere and i think it's really important to say that and remind people here look it's not that far into history where people were actually put to jail for talking. today all over the world for dictatorial regimes all over the what you said something interesting in your description of family life back and under communism. that you couldn't even speak freely at the dinner table oh yes the thing was the communist party would push people to collaborate with them. since like if you want to keep your job you

need to bring more information about what's going on in your surroundings so it will be fairly normal that you or your wife would be an agent of the secret of the secret service for example i give you a very concrete example i came from school i was seven years old excited to have learnt a new poem. and i go. i want to tell you this poem and they were ok. and you know and i started in there like thinking oh my god but they couldn't tell me anything because the moment i would say something at school that would be a problem you know for damn so everyone was kind of afraid to talk to even their closest relatives and the fear infused into everyone's minds just kind of like everyone you know it was really. we

found ourselves and i should mention that you're finding a fly. that i'm having in. the wings afraid to speak their they seem natural with each other is completely awkward and in other words it's today you would call being english british person that's kind of the same time line in london possible i don't know much about. the reason that the sole context of this. point is freedom and for you freedom means freedom from surveillance freedom from the state from your state intervention freedom freedom to express yourself means a lot of stuff you started as an entrepreneur you started out in business once you i guess revolution came along and now is free and you started businesses more or less and then lead you. having to understand money and then yeah and then. freedom is that fair to say absolutely fair to say. something you know.

there was a time in the seventy's or eighty's. where. there was a group of smart people intellectuals creating the. group they tried to leave a parallel life because they couldn't leave the society there was very proud. people would create their own subcultures their own internal spreading off news and information they would print their own newspaper. the. missing for them was money that would allow them to turn sacked without being surveilled and controlled and so yeah definitely bitcoin is the tool for people to get free from the system and even the western society doesn't feel the need. a little part of the world. the need some may be. much more in other countries

first before it gets really adopting their own underground movements there's always been resistance there's always been a problem not having one's own currency because ultimately transacting in the currency of the dictatorship whether it's the dollar which is the global dictatorship of money or or anywhere else now. doesn't bother me. because you say essentially they know not to me or they will be condemned. they'll be reincarnated. that's the penalty of the fly lands on me and the flying level the last time i saw you was in new york i introduced you all stacy and myself introduced you to jeremy. yes and the company in which we are investors to disclose this the two of you hit it off so well on an ideological ideas level that your

announced springs that you have joined the cost the team. very exciting yes that's very exciting and thank you again for for making this happen. we since then that was earlier this year we continued. with jeremy on the next steps forward so you know when i was so we feel like that was a very good foundation for software and. one uses to store their private keys essentially. and so. made it possible for for normal people like myself to hold their bitcoins in a secure way to make it fairly easy. security so that's a good foundation we need to go a little bit. further and there were still a few things left to be tackled. you know all of a sudden you have

a hardware wall and then you have. twenty four words that you need to protect and it's a very new paradigm for people who are used to keep their money in the bank and think safely they're not realizing it's actually not their money but never mind. the old legacy system that. you know we are so much used to have some protection so all of a sudden you have fewer sovereignty you have the security but you need to be aware of like how to protect that and then that can be difficult for some people and some people get very. has a security system so one of the two combined speak about a maybe. so built on top of the existing hardware how to wallets so we allow our users to use. it in

a multi multi multi location set up basically so what you do you have a multi signature. while it's basically protecting your keys in a distributed fashion so all we go first of all we do away with the recovery completely so you don't need to think about how to protect those words and we distribute the key so adds another layer of physical security so what happens. more and more increasingly space that people are exposed to in this space are also exposed to physical threats. kidnappings. extortions and by distributing your keys to make sure that the cost of foreigner in the extortionist is so high because you say ok in order to transfer my money i have to go to my lawyer and i have to go to my office and so the extortionist will think

twice so one of the old ways of protecting the private case would be to tear up the kid into three or four pieces and put into separate safe deposit boxes and i think actually over there gemini the winklevoss twins some of their stored in this fashion i think matthew mellon when he was alive a story. but this kind of you know replicate but on a more scalable robust way so you have these hardware. distributed these wallets and like one could be with your attorney. and so it's similar to that. that's not the same actually. taking the seed and cutting into p.c.'s i'm not too. are your adding any security because. it's easier to. try to get a small part of the seat this is

a different thing so you can totally forget about the seat so i was completely wrong in my example i guess no more to specifically say and i guess it would be fair to say that for a complete breakdown people can go to the actual web site to get the information what is the web site they can get all the information ok well you can contact through. our research multisync online i'm hearing people saying this team of you in concert is the best team in crypto now. i stand for that. report thank you very much for inviting me and that's going to do it for this edition of the kaiser and for with me max kaiser and stacy herbert want to thank our guest alina. over at casa if you want to catch us it's over at kaiser report on twitter until next time.

except for who they are what you want them to be this is the advice a therapist might give to a couple in a relationship crisis apply this wisdom to geopolitics and you'll see the trying to change the weakness of the other. geopolitical act. and learn to fully accept each other. i've been saying the numbers. matter you have one trillion dollars and. more than ten times. eighty five percent. of the. eight point six percent market saw a thirty percent rise last year some with four hundred to five hundred three per second per second and bitcoin rose to twenty thousand dollars. china is building

a two point one billion dollar a i industrial park but don't let the numbers overwhelm. the only numbers you need to remember is one in one business show you can't afford to miss the one and only boom but. when a loved one is murdered it's natural to seek the death penalty for the murder i would prefer and it means no in the death penalty just because i think that's the fair thing the right thing research shows that for every nine executions one convict is found innocent the idea that we were executing innocent people was terrifying who's just no way to present and that we're even many victims' families want the death penalty to be abolished the reason we have to keep 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 saying. not quite enough

we've been through this this isn't the way. you cannot operate as united nations this is not just one robot u.n. d.p. world health organization and in fact other international organizations like the international committee of the red cross you cannot work in a place like gaza with pragmatic cooperation with the locals orators which are hamas in this case here or has been for most of the last few years. i don't have faith in this government official of president of the f.t.c. this is just so nice to have dogs i'm too liberal the system is not just for people

like me it. is a long list. of different people as you have different reasons we also job we also have. most people in philadelphia are only about two paychecks away from homelessness.

like the. us president donald trump vast a punish saudi arabia everything ledged involvement in the disappearance of a dissident journalist with business brains on and on in washington trying to tend to go along protecting the billions of dollars at stake when it comes to radio as to whether or not we should stop one hundred ten billion dollars from being spent in this country knowing they have four or five alternatives two very good alternatives that would not be acceptable but. historic results could be about to shake the german states of barry yeah as residents for a path to take to the polls on sunday when the alternative for germany concert on the verge of breaking new ground in the country.