that you can still smoke inside everywhere you know there's a headline here i think you'll find amusing and that a script owes would only have value in dystopian economy says j.p. morgan investment bank j.p. morgan chase has said that crypto currencies would only have value in a dystopian economy and a recent note to its clients the firm said it was skeptical of the value of cryptocurrency is apart from in a dystopia where investors have lost confidence in reserve assets like the dollar euro yen gold and in the payment systems according to a report from business insider on monday from sneezing this is an eyeball hemorrhage. from sneezing and went on the staging fit the command from smoke anyway talking about j.p. morgan and they're saying oh big going only has value in a dystopian nightmare and that's why it has value today because it's telegraphing a dystopian nightmare the value of big coins today reflects the level of dystopian ism that we are currently experiencing it's

a price of dystopian islam that we are experiencing because j.p. morgan and other banks are rogue banks that are committing massive fraud and they've got the central banks on the behalf of us taxpayers to print lots of money to bail them out even though it means that the overall well being of society is being destroyed and it has given rise to social unrest and the global insurrection as you see with this you liaison or other protest organizations that's dystopian ism and that's what bitcoin price currently reflects and as to this nightmare gets even worse the price will go higher who was born out of dystopia now only did it come for the cypherpunks you saw dystopian surveillance future and the surveilling surveillance capitalism which we now have they created peer to peer cache and order to provide the privacy but also the out. sense of

a counterparty risk in your transactions also the genesis block was ungenerous third two thousand and nine and in embedded in that genesis block is the times headline chancellor gordon brown on brink of second bailout for bank second bailout they used their system their dystopian system was safe imposed on us . as a way to unfairly. benefit the likes of j.p. morgan and that whole basically the class of the rulers of this fight fear out system against everybody else as you mentioned this year they shown all of latin america all of africa all of asia all of europe all of america the populations there make america great breaks it they're all about this dystopian obviously to j.p. morgan it's not dystopia they like it because they're getting free goods right j.p. morgan as you point out they can't tell what effect they're the first beneficiaries

of the fraud perpetrated by the central banks and jamie diamond is that worth you know crossed over a billion dollars by nickel and dime in people to death and engaging in fraud now it's much higher than the but just one quick note about bitcoin in a peer to peer cache definition after a lot of review and talking to a lot of cypherpunks and taking a really close look at the white paper i think we can now say definitively to really get soto's she's vision it's peer to peer gold and that's the history of cypherpunks and that's what bitcoin accomplishes is peer to peer gold without a third party intermediary without having to verify the gold that's what bitcoin is that's what it is and you know fight me on this go ahead but you're wrong yeah it's well gold used to be cash they were the same word the same meaning and except for gold you do need to verify you have to verify. through a middleman so here is this essentially that without needing a man

a man to verify it for you but again i want to look at this still be an economy that crypto currency would only do well during that big point would only do well during a disobeying economy so going to look at a few headlines which show and prove that in fact our opinion that we live in a dystopian economy is true here's a tweet the great wealth divergence over the last thirty years younger americans as an age group have become poorer and all. older americans have become richer and you can see the chart going back and of course this is part of the cantillon effect is it doesn't scape some of the free cash goes to wall street and they give it to another group of people who gives it to another group of people who gives it to another and by the time it gets to the bottom it's laden with all the middleman and their cut of the free cash from the beginning so. you know in within this we have a kind of generational pyramid scheme so the older these people the older

generations are the baby boomers we do live in a democracy you get to vote in those who are going to give you the most if you have the power your vote does so the baby boomers were a massive generational huge population boom that distorted everything they were able to get some of that free money flow of that cantle effect towards them and away from the other generations around them now the millennial are coming up and they have the power to change it again which is why they're going for this social democrats like a o c alexandra cortez so that's something to look to in the future but right now we have a dystopian economy because of this effect right corporations have more rights than people and that's dystopian and capital is freer than humans and capital can move around the globe without being in cumbered by all these border guards and say we

don't have that freedom as human beings way or see heo see and the millennial i think are trying to restore the rights of individuals rights of humans in the face of this dystopian nightmare and that's probably why the big claim price is being held back from crossing over twenty five thirty thousand dollars per coin is because of the rise of fail see if she is successful and humans have a. agency again that's a net negative for bitcoin in the short term but we'll see because there's a lot of people that don't want her seizing power in any meaningful way well we'll see and our next episode i'm actually working on a some stories about individual economic sovereignty and how so important it is today as the disintegration of empire but nation state so it doesn't matter who who heads this nation state called the united states of america because at the end of the day it's going to be down to the individual so let's move on to another story

headline and which would point out that j.p. morgan is basically pointing to a reason why big queen has value in that we live in a dystopian economy here's a tweet in twenty eighteen for the first time that average family in america paid more to hospitals than to the federal government and taxes in twenty eighteen americans spent nearly one point two trillion dollars on hospital care representing approximately nine thousand two hundred for the median household or fourteen point seven percent of median household income that exceeds what the average family paid in federal income and payroll taxes by two thousand and twenty six projected hospital spending will exceed thirteen thousand dollars per household or nearly one fifth of household income that is neo feudalism my

dears that is shocking twenty percent of household income will go to hospital care that's crazy twelve yeah hospital extortion remember america is a hospital disguised as a country and it's a hospital slash prison. and the incentive to make people sick whether it's the sackler family who pushes heroin synthetic heroin in the form of painkillers that's legalized and slaughtering americans by the tens of thousands every year or whether it's the corporate jihad forcing people to eat food that makes them sick and puts them in the hospital or in the in the prison either way you slice it we live in a dystopian hospital prison to see no good that is not benefiting anyone who's done directly owning them shares and options in these companies and again you know in

america they don't the so-called progressive media is m s n b c and to a lesser extent c.n.n. and what they'll tell you is how great obamacare is and how wonderful obama is for the st for delivering this system whereby you are forced into a marketplace of health care and yet i'll show you one of the problems of why these costs are rising by the way the blue line is your percentage of income the median percentage of income in america going towards hospital care just hospital care these are federal taxes as you see it's you know obamacare did nothing to stop that in fact this excel aerated that and remember so they're pushing you into a marketplace max keiser you invented a virtual specialist technology you know markets well and one of the things that is important for a fully functioning marketplace is information there there should be no asymmetry of information all information should be available to all investors and participants in the marketplace so here the article points out that it is

a problem matic enough that regional hospital monopolies have the power to demand high prices but on top of this many hospitals in gauge in additional anti-competitive practices and a wild matthews of the wall street journal obtained secret contracts between insurers and hospitals revealing that these. x. often barred insurers from sending patients to less expensive or higher quality health care providers other hospitals precluded insurers from excluding some of the systems hospitals from insurers networks some contract provisions including those from new york presbyterian hospital and b j c health care of st louis prevented insurers from disclosing the hospital's prices to patients oh americans are being farmed by the hospital medical industrial complex were docs on a fog or a farm they fatten this up look at the average american waddles around the mean that's incredibly profitable for sugar purveyors and hospitals and then they

slaughter us and they sell our parts on e bay and they would if they could i'm sure within the next couple of years these hospitals will be selling organs on e bay for another additional revenue source and everyone will say that's great obama was a genius but again because of our two party system and this whole thing you know that you're either with that side or this side and if you're with fascism if you're with the other side is so the other each of the other sides are fascist if you support them but so nobody is allowed to have conversation on the news here you know other than kaiser report we talk about this and then we get reported to the congress as being subversive but the fact is that you're you're forced into a situation whereby you have to give these massive corporations and lots of that money goes to connecticut my family thanks you very much because they live well there but the fact is tens of millions of dollars go in salaries every year to each individual executive at these health insurance companies who you have to pay these exorbitant fees for and they won't tell you how much or their cut taken from you i guess we should be grateful and we should be grateful because if we were

a foreigner and the subject of american foreign policy they would just write murder us. all right we're going to take a break when we come back much more coming your way. join me every thursday on the alex salmond show and i'll be speaking to guests of the world of politics sport that's less i'm show business i'll see you than. the united states. and its attacks on other countries. economic sanctions or are often just the beginning another thing you like to do is place some military press around the

country talking about it. and there has to be an effort to demonize that country and the leader of that country. we have a responsibility for the home. and we need to make rules for the rest. because without us there will be. us veterans who come back from war often tell the same stories. were going after the people who were killing civilians they were not interested in the wellbeing of their own soldiers either they're already several generations of them so i just got this memo from the circular defenses officer says we're going to attack and destroy the government and seven countries in five years americans pay for the wars with

them money others with their 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 and easiness. welcome back to the kaiser report max guys are time now to go to see the jeremy of dying dot org and our girls solve. or ok jeremy a welcome back hey how you back say stacy thank you our ideas are some big stories here algorithmic sovereignty and black box a society what is next if sovereignty is airmail and what is a black box a sign. well. a submarine deal and how good it is nice there when people that

participate into debt that our government back at the other you can decide about eight you see our grievances are like lows and actually we have to believe it or not a democracy which we can vote about lowe's and decide what they do to us and based on the lows or so we take decisions so it's a pretty important thing and i imagine we are online and we use social networks for instance we cannot change do that social network use to rate us to rate our visibility do to make people see what we have doing and also to moderate or even censor what we are posting there is not a democratic process he saw pape he's a black box we don't know how it is being done is it an artificial intelligence is someone on the other side to distance and not be clear the actually trade secrets so object look society is a metaphor actually invented by. well quoted by the book

a friend plus what american not there that describes how certain transparency that was always in place in government has become opaque especially through to shift to a corporate go airmen's in case of our platforms of democratic platforms you can imagine many social networks in this case so some are indeed free when i argue we should ask in these cases we should that way to not be guber earned only but also going to earn we should that we should have a way to not just be users but to be all participants and have a say on how systems govern our lives right but like paypal are easily easily manipulated when you give them a little love in the form of a like button in l.a. can get a mass of people to do anything they if they can get them to approve an invasion of a country in. get them to incarcerate themselves to get them to become obese and

smoke cigarettes people are stupid on math right so i mean when you give technological platforms the ability to incentivize stupidity you're going to end up with what we have today i don't see any i mean we've we've kind of hit peak humanity right i mean we've gone past the looking glass humanity peaked right jeremy. yes well your money deal in the sense of the human some planet earth but i think that there are human he has a sense a few humanity should never be in our hearts and i think that the we should keep an eye at least to making things fair you and i could see what you say are a great example was for instance pocket mungo maybe someone still remembers it when he had to go ok mom go create and i gave money and sent it for teenagers but not only does she play these games online and go to places to get their points and this situation created security problems because places where flooded in new york and it

did the mayor actually warned people and to police it to about a man and affect it it actually drove teenagers to to fraud end and call the place itself in the netherlands we have a teenage just crossing railways looking for pocket money so you see that it's absolutely right what you say we can manipulate people even we've got game we've seen simple points but that's where i am to you we should make it fair by having serious society also interject and design the rules of the game because if they don't we can even look at the very good teams should not use we could invade that county we don't gain that incentivize it's not be tense so i should do a bit even a juror stinks to get countered to themself so algorithms of course can be hacked or flash crashed in the case of stock markets so we have

a danger of rogue algorithms and once they get out of control i i think the era of rogue algorithms has really started in one thousand nine hundred eighty seven when you had the crash of the stock market in new york because the algorithms that were governing prices between the chicago futures market and the new york stock exchange cash market went rogue they went out of control. and you had a twenty two percent collapse and it changed markets forever and it got the u.s. government who is controlled by an algorithm it could say to start trading s. and p. futures for the first time in history the us government started to become a massive hedge fund trying to govern the apollo economic policy with algorithms that was only the beginning of this as in terms of economic policy driven by feedback in the stock market and would you agree with that. so nuclear ended the api so today to quote is

a very important one because as of today we did not found out what has happened and why sever obedience of dollars were burned into an angry with me mistake and it is really shows us how dangerous these to add to complexity which is my next point for some very deep to be in place we need simplicity we need to meaningfully sim and as a security researcher i can assure you that simply our systems when they are meaningful when we can clearly identified even boots and outlets are easier to maintain secure we can understand what he's interfering with than when we made complexity we lose our own c.b.d. to understand the systems and disease quite an important point there finance to what happened we deflect scratching the stock market so we're talking about algorithms in now it's are basically computer programs and computer programming is what has driven the information age of the twentieth first century and people

assume that it's somewhat but nine that it's just mathematics and as just automation but they don't understand that algorithms can be programmed to reinforce biases now rising political star a o.c.a. in the united states says that some algorithms are racists your thoughts. i think that as a matter of fact we have seen that they are used by police in force meant to actually predict a rate of criminality they he to actually make guilty certain minorities certain that a specific ethnic minorities in several counties and disease absolutely it could be that labeled as racist i do agree with debt the problem being a dandy fight i think is not enough because we need a solution to that and so far to solutions to these problems in the u.s.

there are court cases about these looking at the data sets so that it may not comment made was oh yeah we take the data sets that were fed to these algorithms and we see that these data sets are already containing get large sample soft wish and that is that it chooses again to be creaming know so that data sets out a problem and so far in most court cases these was the main subject disclose that as not a sense but the algorithms that would come these data have been always kept secret i mean again trade secrets by the companies that sell for b.d.s. for millions of dollars stupidly except he says actually bear i'm going to make services to help them identify treatments so these companies are keeping the algorithms closed and even in the case of a court case of some analysis by a judge we cannot actually evaluate three what is happening to that data so we does

i like to stress that you know we levy not you know if not aging which we have been told that open data and that obviously station can help us understand what is happening around the world but that i can be many plaited even away and can be putting several relationships with other data you know way that everything can be saved so it is very important to not only to look at the source. and the result of that the percent saying but also to the algorithms that change these data into shape because i can actually make an algorithm that takes certain demographic data somewhere certain demographic data somewhere else and does yeah look this is the truth because i'm not going to say that you know it's a deep it's so deep that i can't even explain you what happens down bet but you have to believe it is that the root is scientific the root so we leave in very great mission audio if we give up to this because we were you know who's also touch

with what we can very fight to be through and go into today of a sort of santa saint devi got to believe that everything that these percents to complexity must be true it's said anything you know we can put it in a relationship we believe go beliefs we go there mental decisions and do we to all sorts of very important things that go back in our life right now going to give us a couple more examples of hidden algorithm so it may not realize or controlling our choices. well i quoted social networks and there are several social networks know what days and for some people are pretty important people are even making a living with us and we have seen that we have seen the baby extreme examples of rage of people that we have a soul tinged at quarters of companies running these operations because they thought they were unfair there was a very very sad episode last year of

a woman actually assaulted that they had put their off one of these companies and ended up tragically and she thought that her channel of news and off media's was being censored and unfairly boot aside now this is a condition one could argue of see cause he spent also and certainly not lack of trust buttons that led to i mean de vito to a crisis two out there it is not david crises that actually boot to endanger her certainly and many other workers these just an episode that happened in the u.s. when he argo another example can be well let's go into the field off a very very important field of public procurement ok so we have c.d.'s that actually evaluate the public procurements not on going to base off what is cheaper so these public sector not only and the base of what is cheaper or what is most convenient but the many different fuck there are some many different key caterers

and often that all of these processes are dominated by certain companies a few companies around the world actually but oh by the infrastructure for public sector to open eight of these indicators and their greens are completely opaque the are not even very fight by the many open eight hours that they these decisions so we could out of view that some big amounts of money even from public peer meant a dream been told. they could reason off investment into come. but he said it can or cannot believe that notwithstanding the fact that who works in these companies actually know better how these processes actually i'm fault and how funding is assigned so if you walk into a company that provides. then you have a key advantage in also creating but he did it cannot be like them and we because you know how does work you know how the computers and out of public servants

actually we decide who gets the public procurement. jaramillo got to fedoroff their algorithms fast i think i'll be out for a second segment that's ok thanks for being on the kaiser report cheers max all right that's going to do it for this edition of the kaiser report with mainmast geyser and stacy herbert like to thank our guests jeremy will of dine dot org and i'll go solve dot org if you like as a twitter it's guys a report until i stop by our. regular. times you know another of. those whom you know most of us will be in yours and yours who is notable depending . on what you. please them please the ways of the i do but those diligent eyes of

the lights. will. be in. these good. news from there you. better understand how some of the. move. what. that armor are run over rather across the floor or. i'm going to let them but i don't catch them then you can keep an eye on what i have to lose each other for

a trifle. then. get the whole full pleasure. and pay off the time interior. british. model for that will fuck around with mr hate for jim and then i hope that our freedom in your car. this is a stick from a water bottle phone in the stomach of a fish the brand is part of the coca-cola company which sells millions of bottles of soda every day the idea was that let's tell consumers there are the bad ones there the litter bugs are trying this way industry should be blamed for all this

waste the company has long promised to reuse the plastic. it's difficult absolutely. there's less secrecy taken away and i need to stay on you especially funding me. on the new vest that is the end of it for the team the fun now the mountains of noise only grow heigho. venezuela's opposition leader secures the poor itself the european parliament. for the overthrow of the troubled nation socialist president. in rural france the mountain know why over the last decade a large number of children there were born with limbs with a government report due on the probable cause as we went to meet some of those affected i want to know what she was born like that because mothers blame

themselves.