the headlines u.s. president donald trump vows to punish saudi arabia involvement in the disappearance of a dissident journalist but with business brains on in washington trump sets his stall on protecting the billions of dollars at stake when it comes to riyadh as to whether or not we should stop one hundred ten billion dollars from big spend in this country knowing that they have four or five alternatives two very good alternatives that would not be acceptable for. a historic results could be about to shake the german state of bavaria as residents prepared to take to the polls on sunday senator for germany a party on the verge of breaking new ground in the country. and

a recent study finds a third of young americans are too unfit to serve in the army as the battle against obesity commences in the ranks of the u.s. military to promote a healthier lifestyle. we can find all of those stories in full and many more on our web site will be back with your world news update in an hour's time but right now it's the kinds of reports and joy. this is a report i really missed. just a child of the eighty's. so. yes she was big in the whole new york scene when you were. like post-punk and we were entering into the more of a disco era i mean she did keep standards pretty high you know along with donna summer in case you never told you before he was

a good dancer and around that time i know cindy lauper was a performer. i was a performer there i did some go dancing on the bar. and i saw a great. like this in palm springs is predominately women they check out my legs i feel their stare thinking in their heads i wish i had legs like that you know and it's been said here here on international financial news and that's kind of in the headlines not you in particular but the financial media in general and we're still here springs conference in palm springs the best crypto conference in the world and it's now official it's not just me that many people say that finance the media and a catastrophic breakdown in trust so this is the last article that john authors wrote for the financial times where he's gone and i think he said in another publication now he talked about. what it was like to be at the financial times

in the during the financial crisis so. there was big backlash to it this is response to the backlash because in his original article where he revealed actually what happened and he was talking about the fact that he had a couple hundred thousand dollars in the bank when lehman brothers collapsed and he had all that cash because he had just sold his house in london and sold his property and he had a lot of cat. deposited in his bank account so that he as a financial journalist was very concerned because he was hearing a lot of the actual stories of what was going on but he waited ten years to tell this story when during the financial crisis he did not tell the story so he told the story of going to a local citibank in new york city where his his funds were deposited and they had across the street a chase bank and he was going to transfer one hundred thousand to the chase bank because just to have another because member at that time the deposit insurance was

one hundred thousand dollars so you wrote we were in midtown manhattan surrounded by investment banking offices at citi i found a long queue all well dressed wall streeters they were doing the same as me. pulling his cash next door chase was also full of anxious looking bankers once i reached a relationship officer who was great she told me that she and her opposite number at chase across the strait had agreed a plan of action i need to open an account at another bank using below point she asked if i was married and had children and she opened an account for each of my children and trust in a joint account with me and my wife in just a few minutes i had quadrupled my deposit insurance coverage i was now exposed to uncle sam not citibank with a smile she told me she had been doing this all morning and that she and her friend across the street at chase had never ever experienced this until that week so here he was telling a story that ten years later i was at midtown manhattan where all that's were

actually wall street is these days all i saw all these bankers who would who would know the case they were also withdrawing hundreds of thousands of dollars from banks in order to be protected we 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 the eyewitness to what was happening to the crisis and that the crisis was maybe more. dangerous than was being recorded. 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 transitioned the gonzo journalism with hunter s. thompson and 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 authors censored himself he believed he knew better he believed you do 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 have you been a proper. journalist how do you how do you not so censor 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. 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 and the a few months before lehman

collapsed we witnessed a similar event in fact we worse because he's just reporting and midtown manhattan and seeing bankers withdrawing their cash you an eye on 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 two thousand dollars that for the. time on that friday ben bernanke slashed interest rates by seventy five basis points on a sunday night so as 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 function 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 publicist and she came down to greet us and she admitted like 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 the bank was panicked about that they themselves the buddhist bankers 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 geitner was more responsible for the disaster and the reaction 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 the trigger of the repatriation of germany of their gold back from new york to germany 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 said they had and so if it was john authors you would have thought you know what i need to protect the establishment i need to protect my job i won't 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 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 schmucks 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 the reality of the financial catastrophe was not spelled out it was it was simply ignored and we try to tell the people about it when we were in the u.k. we met enormous resistance. fighters but there was a gap on the other side max there was a gap on the other side i think it's better explained. 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 like i member tony blair standing up there and saying there were no immigrants nobody was going to trust that most. of the time.

you cannot operate as united nations this is not just about you and d.p. world health organization and other international organizations like the international committee of the red cross you cannot work in a place like gaza with matic cooperation with the local authorities which are hamas in this case or has been for most of the last few years. to. put themselves on the line to get accepted or rejected. so when you want to be president and you. want to. have to go to the press this is what it looks like three of them or ten people. i'm interested in the waters in the. west should.

have faith in this government official of president facing the system. i've got it i'm too liberal the system designed for people like this woman. because there are. different people here for different reasons. most people in philadelphia are only about two paychecks away from homelessness. join me every day simon chill and i'll be speaking to get a feel of the world the olympics. i'm sure. i'll see you then.

welcome back to kaiser report i'm nice keyser time to get to alina. all the way in from prague 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 spoken to first a crypto springs about the security of the sovereign hodler first of all what is sovereignty and who is the sovereign hoddle or. how it's a very broad question to talk to me about individual sovereignty what does that

mean. that you know for me means. the capacity to decide on the. point when i do that and on which. pretty much you know i come from a background you know different scenario than 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 that chicken slovakia 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 and beat quine when i discovered it quiet. tools 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 they never talk about the freedom to. hard money like. money like the dollar why are the

freedom minded social justice warriors completely incapable of taking on this concept that 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. 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 your 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 there 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 great to talk to even the close relatives and the fear infused into everyone's minds just kind of like everyone you know. we find ourselves and i should mention that you're fighting a fly i'm fighting. but i'm having a son nearly. so the everyone is afraid to speak their they seem natural with each other it's completely awkward and in other words it's today you would call being english british person that's kind of the same thing i find 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 freedoms freedom to express yourself means a lot of stuff you started as an entrepreneur you started out in business once you i guess the velvet revolution came along and now is free and you started businesses more or less and that led 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 because they couldn't leave the society there was very prohibitive these 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. just 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. they know not to me or they will be condemned i don't think they'll be

they'll be reincarnated. that's the penalty of the fly lands on me and the flying level not the last time i saw you was in new york i introduce. myself introduce 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. 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 very

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. built on top of the existing. wallets so we allow our users to use. our wallet. basically so what you do. have a. wallet basically protecting. in a distributed all we go first of all we do away with the recovery.