in order to fulfill them you have to form your own family in order to call them. that. i. i. can't invest trying a sweep across france for nine consecutive weekends causing chaos on the streets.

three people are killed and forty seven injured as a large explosion destroys a bakery in the center of paris well thirty's plane and gas leak. plus a top biathletes refuses to shake hands with a winning russian rival because he was previously found the day thing. and the latest on the stories had. stay with us say for the financial news in the case of reports. max keiser this is the kaiser report one of my glasses or i notice a little rubber bands on the end he'll say don't slide off and. probably the next step would be like don't die first i'm thinking. for

a minute where you have twenty nineteen stacey talking twenty nineteen were like halfway through it already by this point like you know i want to follow up on another point we made last episode because we talked about a o.c. alexander arquette. as the youngest female ever elected to the house of representatives and she's kind of. mesmerizing the media and you know what i realized is that i think she'll not only take away attention from any other democratic candidate for twenty twenty and therefore you know perhaps trump might win again reelection is that if she then becomes candidate and twenty twenty four for the democrats and wins the 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 i think that could be what happens that's what i'm forecasting as bait o'rourke somehow becomes president in two thousand and twenty of them will be generations kind of like generation x. was 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 and that's what it is virological in my mind speaking out of my my triggering people will know what he 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 overlooked we are 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. 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 sciri 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't 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 walk into a wells fargo and open a bank account for joe bag of 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 oh 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 model of the big banks of the world h.s.b.c. lloyds barclays royal bank of england julian morrow. care about wells fargo bank and the model is very very very simple 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 give news pills and he says you don't 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 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 this 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 incumbent 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 extend and pretend story is the central bank by lowering interest rates now 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. 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 that they've they've lived very well with it but at the end of the year it's no coincidence that in 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 and you're paul volcker and that was a two or three year whole 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 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 a 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 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 so ever since occupy wall street we've been saying are going to 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. full 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 start. to call it at the rate of destruction it's just part of the cycle of life baby you know you've got to clear the forest to make room for more seedlings and out of the global insurrection point it's going to go global now you know comments the crisis come with a man and occasionally a man rises up a hat a white hat to save the world from its enemies in the case of big coin batman the white house is named jimmy song and i would talk about him after the break don't go away. their praise for a single purpose. of. training

very young. eight months of intensive school. records. and they save lives. by your huff due. to you there is the committee of jihad this that was still alive within me and then there is some who wanted to counter everything they want to do and try and dismantle everything they were doing so you have to really become a production in order to. you have to follow your own family in order to fool the.

welcome back to the kaiser report i'm ask as are you know 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 and entrepreneur is the author of a new book available for preorder on amazon called programming but go and learn how to program big claim from scratch jimmy song welcome for the first time the kaiser report or frank 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 coin coeur 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 i call now people are aware with this concept of a hostile and that is not terribly easy by pottle or hold it and according to people like chess player that they first on primary network effect that creates to the robustness and the scale ability and they had option a bit quiet now there is the you know building a big call and what are some of the cool things being built on bitcoin right now

and what will that do for the ecosystem jamie well so we currently are on several versions 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 a software xo among other things a separate 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 form no you 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 because it 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 good manners 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 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 have all the cars. disappeared are become. entities and it'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 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 and 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 a big point 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 s. the corporations they plutocrats i think you know in terms of what we're seeing around the world what the movement as

a liaison 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 of 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 quinn brings that is 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 that they 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 in the same. i mean 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 while in vegas january twenty fourth he'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 jimmy yeah i mean i think it's cypherpunk ideal so it's not really necessarily about 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 when the price is going up we're all thinking about how much because we have a what we can buy and things like that so it's very easy to get this tracked it

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 a 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 day 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. 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 on confiscated ball in vegas january twenty fourth jimmy song thanks for being on the kaiser report thank you for having me well 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 and if you want to catch us on twitter it's kaiser report and i.

would love to. put themselves on the line to get accepted or rejected. so if you want to present. to the right person to. be. interested in the.

mon welcome to the first edition of worlds apart in two thousand and nineteen happy holidays and thank you for keeping us by your side this year and all at each has the councils of war never five meaning that decision makers often get caught up in deliberations rather than actually making and implementing decisions that may not be so bad in the case of war but what about peace do councils of peace or the un peacekeeping operations deliberate what they set out to do well to discuss that i'm now joined by several of us there professor of political science at barnard college columbia university and the scholar of peacekeeping professor out us there is great pleasure talking to you thank you very much for your time thank you so much for having me professor left me.