and wins presidency that we will have skipped generation x. that there will never ever be a generation x. president in the united states of america that we're like the middle child of generations that's your generation that's my generation so yeah no representation political you know white house and it's going right to the millennial i think that could be what happens that's what i'm forecasting as bait o'rorke somehow becomes president in two thousand and twenty of them will be generational kind of like generation x. . the afterbirth of the baby boomers yes i kind of like the placenta of the baby you always have to go to the mower vote as well as virological e.m.i. my speaking out of my my triggering people who nobody likes to hear that sort of stuff but you know i would put it in a more eloquent sort of way and say that we are the middle child of generations or over look we have the baby boomers they are huge population the baby boom after

world war two millions and millions of american babies they grabbed all the attention they were the media was mesmerized by them they were the power generation the love generation the hippie generation then they became the yuppie generation and then they rule the america and they ruled wall street and everything came to them and we were ignored and now the millennial are coming out but one thing the millennial is have over what generation x. had was of course the fact that flights and flying and traveling around the world is so much easier and we have the internet to make the world so much smaller and closer so they do have a little bit more of a worldly sort of way about them which is probably why they have not only good food better food than generation x. ever came up with better maybe not really music but they definitely have ideas like medicare for all and stuff like that. is a genuine feeling of hope and change or as barack obama. who went into the campaign

with those messages it seemed like he was faking it like i never thought he was so the siri was very dishonest in his presentation but you know see i really believe she is full of hope and change and she's full of beans she's full of energy she's ready for another so it's a cycle is turning over in america this is the beginning of a whole new political cycle i'm totally excited by or i'm going to vote for twenty four and i'm already decided that that's because you can't help yourself because i can persuasive as scott adams would say and i want to look at another headline here and this happened over the past week we can have and it's a tweet as from the attorney general of pennsylvania and he seems so impressed with himself about the great work he's doing about wells fargo owned mostly biggest shareholder is warren buffett you know ukulele playing warren buffett he said where announcing a five hundred seventy five million dollar fifty state settlement with wells fargo for opening an authorized accounts and charging consumers auto insurance and

mortgage fees they didn't actually owe the bank duped customers and with this settlement we're working to change corporate behavior. a financial settlement of a fraction of their ill gotten gains look at that. they as you might say opened an authorized accounts but that's wrong that's outright fraud you try going to wells fargo and open a bank account for joe bag donuts and you're going to be thrown in jail for twenty years here charging consumer auto insurance a mortgage freeze that they didn't actually owe wells fargo also announced that we accidentally closed my foreclosed on nine hundred homes that didn't belong in the foreclosure system so this one i have been doing for ten years yet and we've been covering the the model the the model of the big banks of the world h.s.b.c. lloyds barclays royal bank of. care by wells

fargo bank and the model is very very very simple if you keep ninety cents of every dollar is still that's the model that's what their earnings are based on if you stripped out the fraud from wells fargo's business model they would be losing an unconscionable amount of money and they would actually have to declare bankruptcy many many many quarters ago same thing for every major bank in the world if they were accounted for in a generally accepted accounting principles according to the rule of law they would have all been closed down many years ago but it's like the old woody allen joke he goes the doctor says dr my brother thinks he's a chicken and the doctor says here are given news pills and he says you know understand doctor we need the eggs ok fraud runs the american economy without banking fraud there would be no g.d.p. whatsoever that's what i'm saying about this generational so shift the baby boomers have done very very very well off of that fraud their entire pension plans are

based on that fraud being allowed to continue but that fraud has only been able to continue based on defrauding the next generation. bloweth who are now a bigger voting bloc there are more millennial voters than there are baby boomer voters at this point in time and baby emma lenny laws are like hello we are not going to pay for your fraudulent pensions and your fraudulent lifestyle and all that sort of stuff we're going to say enough and that's what you're seeing the shift you're seeing the shift into big point because of the monetary system is also based around the incumbents and the incumbent empire which is america and the incumbents beneficiaries of that empire which were the baby boomers and now they're at a very sad a very difficult place where they have to give it up the baby boomers have they've they've done very well they've lived a great lifestyle that fraud but the younger generation are like well ok you can

have your fraudulent system go find a new ponzi because we're going to go to this new monetary system that we've invented and we've come up with them we're creating a where operating in which is big point you guys can have your fake one and find some sucker to take those dollars and to tie this into another big story we've covered for ten years and that is the complicity of the central banks you don't have a wells fargo they have to pay this huge fine to cover up the fraud that money that they used to pay that fine is taken from the central bank they're brought from the central bank and near zero percent interest rate and then they restructure their balance sheet they restructure their own bond portfolio and they extend the maturity extend and pretend as off so you've said they they find a new they're committing new frauds right now and they'll say oh my bad next time they get credit they are committing new fraud today it'll be the story next year but the complicit partner in this extended protests story is the central bank by lowering interest rates for thirty seven years but nothing can go on forever like

that so we're out of juncture in the comic cycle where interest rates are starting to tick up that's how we know with certainty that the jig is up that's all we know for certain the that i believe that a.l.c. will be president twenty twentieth's and i'm saying is like there's a gigot. and that thirty seven years of declining interest rates that's also the baby boomers that's been feeding the baby boomers in this fraudulent ponzi scheme they've done well and they've they've lived very well with it but at the end of the year it's no coincidence that the past year the twenty eighteen was the first election where we had more millennial than baby boomers and that whole system is going to fall apart it's going to split like it was slowly and then suddenly not that's ok you have to break the baby boomer generation into two distinct parts which would be pretty imposed the yuppies because you did have a major recession the seventy's where interest rates skyrocket in your paul volcker and that was a two or three year hole aisha's economic period in american history but since the early eighty's the rise of the yuppies of which i am

a proud member of that class of wall street young guys eating your video we've also hear me i've been living on free money now since nineteen eighty two here and then we got into big coin of the dollar so i just extended that reign of trust going to live over all yeah but you and barack obama were the very last of the baby boomer generation like the last year or two that's you guys are called generation jones so you guys had a little bit more hope you guys became a little bit better because you had the man on the moon when you guys were like eight or nine years old and then you thought ok everything is possible but that was like the last time we ever did it was like a trick it's like we're never going to do that again except for maybe now that we're going to compete with the chinese so that's why i love you elon musk because inherent in the whole man on the excitement from the late one nine hundred sixty s. new york jets won the super bowl new york mets won the world series we had a man landing on the moon and times were good well remember there was the television series when we're young or

a movie about logan's run and his buddy who turned thirty five had to get into some sort of. do a race and basically you would get killed and that was the way to get rid of old people and i think it was like at thirty five they considered all the. quite but we're on that sort of cusp right now you really feel it generationally something's happening around the world a lot of uprisings the sort of thing is it's younger people fed up with the purchasing power they talk about their purchasing power the purchasing power is going down because of the older generation that has benefited for the last thirty five years thirty seven years of interest rates falling and. extending and pretending that they're going to retire with some great pension that is really being taken through the cantillon effect of the central bank taking money essentially from the lower the bottom ninety nine percent and lifting it up towards the top so let me add to that so liberalism which was it first expressed by reagan

faster went global yes and that and all the central banks began to work together to cope including nomi prins wrote a book called collusion central banks working together and now the show is really part of the global insurrection against banker occupation this is the first global insurrection to fight against globalism and the global dominance of central banks is becoming a global elvis movement will be in every single country severus is occupy wall street we've been saying how come the occupy wall street athens occupy wall street gaza occupy wall street you know or georgia you know now there's you know show will go global yeah but again like even though trump is i think he's even older than a baby boomer but even though he was elected the fact is what hillary clinton had been promising in twenty sixteen was more of the same and the fact is that the millennial who are all back and bernie who were going to rip it down like they wanted to rip it down that was the this is just part of

a process there's no sort of conspiracy is just natural process of what happens during cycle shifts some people call it forth turning but generations it's just that it's a now. will cycle of burning it all down not a violent revolution but a peaceful one of bitcoin and new ideas that are just going to happen and i think the baby boomers are going to have to start nicer to millennia is just going to call it at the rate of destruction yes it's just part of the cycle of life baby you know you've got to clear the forest make room for more seedlings that are out of the global insurrection by she liaison's going to go global now you know comments the crisis come with a man and occasionally a man rises up whirring a hat a white hat to save the world from its anime's in the case of a coin that man the white house is named jimmy song and i mean talk about him after the break don't go away.

with popes and you should. be put themselves on the line to get accepted or rejected. so when you want to be president and she. wanted. to go on to be this is what the three of you could get. interested in the water. nobody could see coming that false confessions would be that profile in this particular case the fall of virtue. had any interest geisha out there what you'll see is threat promise threat promise threat while i lie the process of interrogation is designed to put people in that frame of mind make the most comfortable make them want to get out and don't take no for an answer don't accept

their. she said therefore would. say i stayed there i would be home by the next day there's a culture of accountability. police officers know that they can engage at misconduct that has nothing to do with all their cry. as a spy you have to really split your own personality into to use them as that committed jihad this that was still a life that within me and then that is the person who wanted to counter everything they want to do and try and dismantle everything they were doing so he will have to really become a good doctor and know that a tool. you have to follow your own family in order to hold them. when they came back from iraq out of marijuana her was

cocaine methamphetamine so anything that's altering trying to get us out. that bad mindset used in the chemical there would be so. i want to be drinking and drinking ino new nope just killing myself drinking alcohol links don't drink to get drunk alcoholics drink to feel normal. that's why it's this way drug addicts do. a shot while surfing and their. star cool under which these guys are going through to it it just means to. need to be helped and pushed on by the v.a.'s are as drugs go and stuff they need to be built. they've really shouldn't be looked at like numbers they should be looked at like people if they go to a veteran center for health issues be considered as someone who really needs attention and.

welcome back to the kaiser report i'm ask as a no on this show occasionally i have an opportunity to interview a legend and today is just such an opportunity time now to turn to jimmy's song a bit coin educator developer an entrepreneur is the author of a new book available for preorder on amazon called programming but going learn how to program big climb from scratch jimmy song welcome for the first time to cause a report or drink you for having me because mom and dad it is a pleasure to be on this show you know i am a big fan of yours and and you know i can't believe it took us this long to you know actually beyond or took me this long to be on the show well it's great to have you done and you've got this book coming out we're going to be talking about that a second but before we get into your book jimi you are a big coin developer or bitcoin coup or as some now say tell us jimi what does that

actually mean you know to the person who might not be aware of what's going on here what does it mean to be a big going core developer jimi song. well because when core is the software that soto she originally wrote and it is for that reason called the reference client and anyone that contributes to the core software is is a big quake or developer so i have about fifteen commits to my name into the core repository so that's what it means and that means working on the software making sure that it runs well that it doesn't use too many resources that it's efficient that it doesn't have bugs things like that. now people are aware with this concept of a hostel and that is not totally easy by pottle or hold it and according to people like chess player that they first and primary network effect that creates to the robustness and the scale ability and the adoption of bit quite now there is the

you know building up because what are some of the cool things being built on bitcoin right now and what will that do for the ecosystem jimmy well so we currently are onsite reversions zero and one of the things that a lot of people don't realize is that sedwick allows for a and a very easy upgrade path for subsequent upgrades so they can be put in as software xo among other things version one is going to hash nor signatures taproot grabbed through cache no input really mass but these are all improvements to make lightning a lot easier to code for developers. they're going were looking at neutrino as a as something that's going to go in that only give you more privacy from a light wallet perspective you don't have to run a full no to get. you know good price privacy properties that you would get. you know like off of a full no you'd only have to run a light node to do that so

a lot of really cool things coming down most of it having to do it privacy and you know like. enjoins and things like that so it's a very good development something to corn really needs right let's talk about lighting networks for a second you know i was crypto springs last year in palm springs with elizabeth stark stacey herbert and. the mirrors. and melt i'm delirious and you know this is the big talk of the town was lightning networks and lighting networks labs this does something very important is that you know explain to the folks how this creates an environment for transactions that are i think an improvement if you will or to talk talk about lighting networks because this is the level to scaling that everyone's been waiting for what does it do. when you do on chain transactions it takes anywhere from five to thirty minutes for it

to come from and that can be very annoying for any sort of instant transaction that you want to make when lining allows it is for you to do those transactions pretty much instantly you know at the speed of a web page up load or something like that very very quickly and trust asli and that's a really big win furthermore with a and on change transaction everyone has to know about it so the chans action has to propagate to pretty much every node on the network but with lightning you only have to send to the people that need to know about it whether they're routing nodes or counterparty by your trading with so that that preserves privacy it reduces band with it makes it more trust less and it doesn't require as much data on the block chain so it's a win all around pretty much yellow so back to really you know last year or year before that the build up towards segway it you know an interesting split the community develop those that were really more corporate focused on the new york

agreement as it was called and the big corporate players in the space kind of took sides against what one might call maximalist are folks that were looking at a big coin more as a purist point of view and the purest one out segment was adopted now it's growing quite rapidly and and is this to be it was an existential crisis and i've talked to people at the vortex and others who were and yourself and jim and tell invades they're really on the forefront of battling for the purity of big point and you guys won that battle but do you see that type of existential crisis continuing or is that kind of the last of the big battles opening the path for bitcoin because just all the forks that resulted as a result of that wall the cause. disappeared are become non entities and that's

really the protocol with the question is this to me the protocol it is genius seems to like to have an immune system that rejects charlatans and rejects is everything that is against what it was meant to do it is that a fair statement and you think i'll continue going forward yeah absolutely i think that's a fair statement i mean what we had during start with two acts was a governance takeover attack we had a bunch of players that wanted to control big corn in some way they were saying stuff like where where the business isn't we do eighty percent of the transactions on the network we had like ninety percent of the mining hash power on the network therefore we have a right to control this thing and that's very much against the spirit of big quinn and the users amazingly actually rose up and said we're not going to take that you don't control things and that that's a very different thing than what we see in government and business in any sort of

other governance model today which is that if you have government and big business get together you get what they want and big one was very unique in that way now are they going to try again possibly because it is too valuable in too interesting to not have some sort of attack come against that in the future but there is like you said an immune system that's already there and there's a lot of white blood cells you know like people that are doing user activated software x. and things like that that that try to exert the power that the users have and that that's a very good thing and i expect. you know more attacks but as we work those attacks that's generally when we've seen giant price rises is when because it proves itself to be antifragile right that's right we saw that after a battle was won that was when the first burst over over ten thousand. and you know when you're talking about governance and talking about the users winning out over

the the model as the corporations they plutocrats i think you know in terms of what we're seeing around the world what the. john is called in france another of these protest movements it seems is so big coin is the currency of resistance because it should be the currency for all these global movements to unify because for exactly what you're saying there the governance model is as a one of superior to any other governance model so we haven't done a very good job marketing decorum very well and that's for a good reason where we're not really marketers where we're really mostly coders the fact of the matter is that the biggest thing that big point brings it is essential wising monetary power financial power and that's the thing that a lot of people don't recognize is that monetary power is the big force in the world right like it it's the people the people that could control the purse strings really run the world and and all of these protest movements and things like that

they are going after changing who is in charge really what they should be doing is taking power back for themselves the essential izing power and it starts with big point and if they right realize that that and that's that's the first thing that they would do and take the power away very quickly i mean slowly and quickly in different ways and change things for the better going forward instead sort of putting their lives on the line and you know risking jail terms and things like that i think is a much more peaceful revolution that's possible with a point right i think or any other problems i just quickly touch on this is that the big point has the ability to actually not only does it have an immune system that keeps out the bad actors and the charlatans but it does have the ability to drive some people and same. thing about a matthew mellon or a. roger vampire or asiana will people have died or they've gone insane because of

this kind of godlike pure technology that's given that gives us so much and i'm going to be talking about this by the way on confiscated well in vegas january twenty fourth you'll be there at the unconscious cable conference as long tell inveighs and others and i'm looking forward to that but talk about price for a second jimmy sun other words price going up gets people's attention it drives some people and same but as a developer if the price were not going up would you still be interested in developing it if the price drop to five hundred or four hundred or three hundred or fifty bucks would when they're still be in development circle a crowd going after it to me yeah i mean i think it's cypherpunk ideal so it's not really necessarily about white what the price is at the moment we the people that are working on it believe in it long term we have a long time preference right where were or are low time preference not a long time preference we were in it for the long haul and in fact actually the

price going up can be actually a very big distraction for a lot of developers you know developers are human too and you know when the prices going up we're all thinking about how much because we have what we can buy and things like that so it's very easy to get distracted when or when there's a bull market where is there in a bear market it's like you don't want to think about that much the price that much and instead you get down to work and build all sorts of goods and services that might be useful to people and that's a very good thing so for me at least and for a lot of developers i know that that's the direction that we all tend towards great let's talk about your book now it's called pearl graham learn how to program big plane from scratch it's available on preorder right now tell us about it. yeah it's came out of my seminars i do these two days seminars and basically it's a it's a seminar in book form but basically it takes you from everything that you need to

know to learn decorum from actual math the first three chapters are actually like very mad not heavy all the way to you know like networking protocol and stuff like that and sending transactions and blocks and stuff back and forth you learn everything that you need to know to know the block chain i'm working on a second course that will probably be a second book eventually but that's based on programming a wallet but that's that's what the book is about it's for you to learn if you're a developer that knows python so a great book to pick up and to learn by quite ok right so once again you will be a come on confiscated ball in vegas january twenty fourth to me song thanks for being on the kaiser report thank you for having me all that's going to do it for this edition of the kaiser report with me max kaiser and stacy i would like to thank our guest jimmy song if you want to catch us on twitter it's kaiser report until next time i.

was. was . was. u.s. veterans who come back from war to tell the same stories. were going after the people who work. since they were not interested in the well being of their own soldiers signed their already several generations of them so i just got this memo from the circular defense offices we're going to attack and destroy the government in seven

countries in five years americans pay for the wars with them money others with lives if we were willing to go into harm's way and willing to risk being killed for a war surely we can risk some discomfort for an easy notice for peace. because you know provision i might buy going to what it. has but i. owe. you for your hydro alaska's buskers got then you just gotta go with us as you know. any. better but the best honest i brought with it. so i says you know what i was you're not. you're not just i mean what almost bought it i'm already whatever sped up part of me just got to go eat i remember the lord were going to. give it up as well i must really feel that you

will get off on getting worse but those were the office. one of those but i was just this weather this one of these on. my bed and we've got a bomb i just got that already yes equestrian in the thought of getting up there calling with you. you just got to go you. can't invest rally sweep across france for ninth consecutive weekends causing chaos on the street.