this is the kaiser report where on the floor of the magical crypt conference here in new york city the 1st annual. conference with fluffy pony well. no charlie that's it these guys rock and they're rocking new york city this week now we've got an amazing situation developing here in america one of our politicians as it openly admitted in congress that the u.s. dollar is that threat. i do want to again point out you'll hear some peeping in the background that's because they're like setting up lights in the whole venue so we're like so exclusive here in the kaiser report we're allowed in before everybody

else gets here by brad sherman he's a congressman from california who represents los angeles and i have a little clip of him here i look for colleagues to join with me in introducing a bill to outlaw cryptocurrency. purchases by americans so that we nip this in the bud in part because. of our international power comes from the fact that the dollar is the standard unit . international finance in transactions clearing through the new york fed is critical for major oil and other transactions and it is the announced purpose of the supporters of crypto currency to take that power away from us to put us in a position where the most significant situations we have on iran for example would become irrelevant yeah i mean 5 years from now people going to look back at this

speech as really the beginning of the end of the u.s. empire and the u.s. dollar because up until at this as the rest brad sherman says that up until now there's never ever been a way to defeat the u.s. dollar and he said openly that the big point is the way to defeat the u.s. dollar so this means a lot of different things unpack this but obviously for countries like russia china and others if you want to usurp the u.s. dollar by going as we've been saying now for years put that into your strategic reserve as much as you possibly can and you would diminish the role of the dollar in international influence and as he points out it's key to the oil industry it's key to the war industry and everything flows through the new york fed and gets approval from the new york fed if you want somebody other than the new york fed approving your transactions every single transaction in the world goes to dollars goes to new york fed doesn't matter where you live who you are what country you are what president of what anything you ever do it goes through the new york fed if you

don't want that influence if you want independence if you want to have your own sovereign say then buy as much as you possibly can for the reasons that i walk or to attack the death star you had to hit the missile projectile directly into the heart of the death star that is the new york fed is the death star bitcoin is luke skywalker you're coming in you're russia china here's somebody else you're like under destroy the empire didn't. the point is that he mentions unit of account which is like the 3rd. layer the future of what bitcoin has always been talked about by the likes of us at these sort of conferences 1st you have the store of value then you get the medium of exchange then you get the unit of accounts and the unit of accounts is the global trade settlement you know it used to be gold then there was talk about having an s.t.r. via the i.m.f. that keane's had proposed or a bank or and then the u.s.

dollar was able to exert itself as the unit of the calends and that gives it a lot of power an exorbitant privilege you might say he wants to ban a camp ambit claim but he is recognized and the power as a unit of account is where it's sort that's the ultimate source couple of points there he says we should ban but going of course that's impossible because you can't ban mass and you can't ban the internet that's 2 strikes against you and then you can't influence the rest of the world to accept this imperial imposition that's 3 strikes you're out and now in the progression of big going from a store of value to medium of exchange to unit of account as you point out he's open the door now to unit of account that is a big point adoption that's game over for any other field currency in the world right now during the store of value. move from a dollar where we've told the world to buy it so $100000.00 in my view is going to start to become more of a medium of exchange and then you have

a move toward account it's so amazing the way the protocol is influencing people even peter shift now is moving away from being anti big going to being now he's in the maybe camp all these other economist nouriel roubini paul krugman jim rickards they're all going to move from no to maybe and then within a year or 2 or 3 years old b. yes we were wrong this is the way that the future also you notice a lot of their attempts to exert control and i'm going to turn to a headline from joseph stiglitz nobel prize economist but in terms of brad. sherman it's all about control and we want to control all nations in the world he mentions we want to exert control over the iranian people and the 10s of millions of people that live there we should have say what they do with their con and me and i admire the way los angeles is the porn capital of the world and it's a huge important industry to los angeles is way more important than hollywood

hollywood is that bright shiny side of what is actually the porn industry there and they rely on big claims so he's like he's talking against his own constituents now we're going to turn to this headline from c. and b. c. joseph stiglitz we should shut down the crypto currency just as stiglitz a nobel prize winning economist says cryptocurrency should be shut down he worries that they have naval illicit activity by making money transactions less transparent which of course is i can argue you meant from 2010 or 11 he's like stuck in the past you know it's amazing joe stiglitz is misinformed about this there is absolutely no argument being made and certainly his arguments are the least interesting and least you know noteworthy arguments to be made obviously when you compare illicit activity nothing compares to the u.s. dollar nothing compares to money nothing compares the u.s. and foreign banks or just b.c. and others we've talked about on the show many times they are the ground 0 for

illicit activity if you actually add it all up the amount of illicit activity that flows through big going to something like i want to have percent globally which is a pretty good track record in light of the continued abuse of the economy and of our morals and our fabric of society by the likes of j.p. morgan h.s.b.c. b.n.p. cetera and there's another point about that it's somehow not workable at scale is equally ludicrous yeah that's that's not that settled but in fact he says. crypto currency that are created. by the global individual should be banned he says i've been a great advocate of moving into an electronic payments mechanism there are a lot of efficiencies i think we can actually have a better regulated economy if we had all the data and real time knowing what people are spending is all about control they want to control what you spend on what you do what you know and this is in the context by the way of them not only platforming

people around the world but also now trying to pull people from the financial grid so they want to be able to isolate and target and and a very terror and a call way individuals across america or around the world that they don't want to be able to spend any money at all or receive any money $0.00 let's be clear the current system is already 100 percent electronic it is already 100 percent tracked the issue is not whether it's electronic the issue is whether it's beings were being surveyed the issue is transparency for example amazon or wal-mart girl huge retailer would know on any given moment of any given day what razors or shampoo is being sold to whom or how much and where they have that data but they keep it inside the fire wall and they use it to market google apple amazon all the big tech companies they know all the information joe stiglitz is talking about but they use it behind the fire wall to influence marketing decisions the u.s.

fed controls the dollar the u.s. banks control the dollar the u.s. banks in the fed control the mainstream media like rachel maddow because they want to influence and sell this perpetual war that's their product and message b. c. as one product and one product only the forever war they unit of account that's very important about war because why we went off the gold standard 1st in the 1st place and 971 was because of war because the us was involved in multiple wars by vietnam being the number one and the cost of that war always throughout history. bankruptcy nation. causes hyperinflation because you run out of the well but since we went off the gold standard we've been able to have perpetual war theoretically because we can print all the money we need to you know bomb everybody and take their stuff so that's the thing that in terms of control they that's the control they want and that's what's worrying about signals comments is that not only does he not understand big going but he apparently doesn't understand the current system

either so the nobel committee is just handing out prizes of people who demonstrate a complete lack of knowledge about how the system actually works in real time forget about how the system could be working in 10 years did and paul krugman his fellow economist and then the ivory tower say the u.s. dollar is backed by men with guns and that's why it's better than big point paul krugman of the new york times says that the dollar is better than big going because we promote war with the dollar the wars the industry number one for mainstream media and the new york times promoting war that's our top jobs getter our top tax collecting fish and sea model and the big point would be a peaceful movement so move toward peace that's why countries like russia china iran and others are saying we don't want to under subsidize by using the u.s. dollar we're paying for america's wars america doesn't pay for its own war it borrows money from china money from russia browse money from iran and then use that money to make war on russia and china so they're saying wait a minute why don't we just cut that. dollar gimmick and just say let's go to hard

money the best hard money ever invented big going and is representative sherman has said in open testimony it is the vulnerability of the u.s. empire that's now public knowledge if any country doesn't act on this now it's because you want to be a frickin slave to the dollar so tell your people your slaves tell them is beyond country because i i think we're beyond nation states i don't think i think that was like you know in our 4050000 year modern human history like that that was just 3. during your period and i think the individual you don't need the permission of whatever your government has who cares like what government you don't need to wait for your government to do something you can just take action yourself that's exactly right that's what's happening the nation state itself is disintegrating and that individuals are clear their own sovereignty and us permission nobody needs to anyone's permission to put the breakpoint flag on the moon and say i am and

sovereign individual mean those nation states they continue to exist of course still wants to be come more appealing as a destination for all those with the new digital gold with big coin that want to attract big pointers and by the way one final note on the bus where he's saying it's bad because of illicit activity the u.s. dollar is still the number one world choice for illicit activity just look at what cobia bank or h.s.b.c. we've already covered that you can google it look at all they've laundered tens hundreds of billions of dollars for drug cartels so that's a stupid point still the question left is during the next financial collapse the banks who will they go to for a bailout will it be the bankrupt central banks like last time or they come to the big corners and they'll come to the big corners and they'll come to us and also these various countries of central banks and say we need to bail out the corners please help us and we'll say ok here's the terms and that's the future it's

happening in the next 10 years we're going to take a break when we come back much more coming away from the magical crypto conference here in new york city max and stacey the kaiser report bringing it to you. there's an international economic forum is a unique to do business world. over the last 21 years before it was become a leading global platform for discussing the. economic issues facing russia emerging markets and the world thousands of business community members attend the forum to address today's vital issues. watch especially foreign coverage on r.t. . join me every thursday on the alex salmond show and i'll be speaking to guest of the world of politics sports business i'm showbusiness i'll see you then.

it's up to us to see on his attorney. corner one of those a little bit. more which. was a real it day you. got to know people who supposed to answer me would see i was fit . and that's the time to get. if you ask if that's the finish that you give.

welcome back to the kaiser report imax keyser time now turn to your dollar. back open. welcome thanks for hoping that you know you're able to move our series an r.t.a. that temp our series you're one of the you know featured players a necessary beneficial player in the crypt space for years here the go to guy carrier the go to guy the world over time is become the standard in this space year if you're a legend oh we want to pick your brain on congressman brad sherman of los angeles says we need to nip this thing in the bus because it threatens you as a gemini here response take you very much for doing our job and advertising big crying for its true purpose which is to replace him through banking you know if you do. i love. this guy's better

job let's take into the sun little bit because we've been saying now for a year that the whole field money system is sound so banks need to be replaced this point is the solution and because we're against war we're against the kleptocracy we're against 30 central bankers so he base and we're against the u.s. and germany because they love war and the world is a place that doesn't really want to be a war all the time and yet here's a brad sherman why do you think these clueless do you think he is just now learning back for the 1st time in 10 years he seems to have basically waved the red flag not only in front of the crypto community but any country in the world interested in taking down the united states economy he according to brad sherman the way to do it is to support and by 5th going all of these guys are not stupid. i don't thing here understands that you cannot cupid. you know those guys think that

you can just take a plug off the wall in a state that's it really like the game is over out of your game you can turn off the going rate but we can't turn off central banking with bank oyo he actually made the case in explain to every single auger world leader that big is the bast unit of accounts to replace the dollar it's fantastic i mean remember when obama told us told everybody that because he is the swiss bank account in your pocket i mean who do you think you guys can you would please have another politician go on major news and explain to other people how good it is enough and it's interesting that he talked about the clinton internet account and you know you're one of these guys who has a you know very circumspect attitude toward it that the protocol is going to do the protocol is going to do no matter what various personalities think it's going to do

and all of the infighting that happens in them and big point we've seen for years now none of it amounts to anything of the heart for x. amount to anything none of the competitors have been point of a mountain to a true competitor to pin point and we've discussed in the big thanks very for years this transition from store of value to medium of exchange a unit of account and we get tremendous back with us about it can never be a medium of exchange it can never be a unit of account so here's brad sherman us congressman testifying that this is going to be a unit of account and it threatens us dollar germany has settled the debate yeah i mean this is a guy who understands unit of account that's his job right and he is really validating everything that we're saying how else are we going to do this like we need this politicians to really do our job i mean they are on our dime right would be toxic so now they're doing their. job 8 now you have an interesting thought

about. project where is it claimed going and we had a conversation last night we're here at the mascot for the conference in new york city and you are saying by that neck by the 2nd major way forward you know they claim is very cyclical you don't get the serious bull markets at the corrections but by the neck by the 2nd huge way forward and you're saying ok talking about a price 150000 or so. you you and this is at that point basically all politicians will be working for us you know like any big industry when you arrive you know as the oil industry is the gold in the street what do you do is you buy yourself as much quality shoes as you can and you get them to finally do the job that they need to do you just make sure the big properly not taxed you know because it's a currency having some currency is insane i mean you're going to have them properly creating the vehicles for big credit. big bass credit

and be really nice but it costs a lot of money because politicians are very greedy and they need to get be the law . you can buy as a senator for 100000 while but that's not my can stop these other companies alla say in their private meetings like they can't believe that cheap political influence in america isn't a political influence you can buy anywhere in the world it's going to be one big point in a couple years so this is all up on the south they're saying that you were not against regulation but we just want to be the one paying for it and to craft it in our needs exactly you know it kind of like facebook goes and explains exactly how they want the regulation to be and we're going straight is famous for writing the laws that they were citibank just elected barack obama's cabinet of course right and we're going to pick everybody and we'll be in a position to do so because it's going to go so 15835500. we're talking about

the big coiners having the monetary influence the the wealthy the affluence to buy any politicians that we need basically cost efficient i mean that's all we need right like we need big going to get a little bit more i had a few more cycles in it's going to be worth enough it's going to be more cost efficient to buy the politicians that it would be to try to to to have the rescue this so you know every time we've found now that it's amazing the protocol and built into the protocol and into the into the the base layer is this game theory component and in their tracks stupid people or economists as in some call them that's like no roubini tricked me into a listen to 3 my friend peter schiff where are 2 records and other friends. play it when they come against the this big claim protocol they bring all the academic learnings that they have. and it doesn't work because a study anything they're familiar with and they all sound dumb it's the old man

yelling at the cloud great he really is you know big corey is that who need a new os a class right now so explain i mean you have a finite amount of points that's fixed supply money it is fully fungible right i mean anybody except if they want the money and it's always a fully transferable to so borders don't matter anymore when you can cross the us they've got the 3rd party verification which seems to me like the secret sauce is the story right everything that's the transaction settle themselves you don't need a 3 day waiting period of a proof of work every yet that the transaction is the settlement layer and yes the mine you don't need it in a south 3rd party verification that's why that's the one point that makes a superior to gold you can't stop it so you can't just rattle it goes thinking of economists that are seemingly losing their minds joe stiglitz said in the news he demands government's bankrupt occurred. that governments themselves issues their

own currency to control the masses. because that always works right. it's you know it's very similar to like you know the movie industry going after torrents or the music industry going after you know the downloads right it doesn't work people can still download they're still going to find a way because until you find the balance between user demand and what you can make more down to have people will go around it great music people use of the load until now that you can pay $10.00 a month read and you get all the music you can possibly listen to you know you found out ballance it's worth an hour is going to be the same with currency you're going to have big which is socially i mean it costs like you know a few bucks to send a few 1000000 the books are a it's money well it was there during the recent finance something like 50000000 or so was appropriated and most think the miners reaction was wow they did it for 20

bucks you know that's very cheap right i mean you know if you have ever tried to do a wire transfer to be a supplier and different country yeah you have to go to the bank you have to do all the stuff with paper and then you have to say yeah what do you think about this mean the bad the 3 major hacks are incidents on exchanges in last few months and the market seems to be like well we're beyond it now in the case of finance they seize the came in the cover and everybody's losses for the check you know he's got them cast the best for next story and sather is not really has my saxon out there and i we had a point now where there's a certain level of maturity setting the stage for the stakes balrog i think. the user base is not only. more desensitized now to the ceiling use rate i mean most of the money is not as stupid anymore so they're not selling on the news and. that's making a huge difference and we're going to see i mean we thought the cycle was going to

go to the floor i mean everybody was hoping to pick up coins we. don't have. any doesn't look like it's going to happen this one looks like it's going to at least go sideways for a little longer the base is wider than it's ever been so that's the sort of you know you have a much higher vertical ascent cell itself that open dime is that's where you hang your hat and so you can and i write yes listen my should mention they did not have a single team in the stanley cup playoffs this year. just as a side note. tell the folks about open dime what is it this is essentially physical because. you can it's a very instrument so i can give you a big point of the stick you don't have to trust me you just check that the vice and you don't have to wait for confirmation to confirm it's especially the big catch that oh yeah they're real big right so as you say it's a fair instrument that he's had on last night i worked in the eighty's and they

outlawed that we can't they're illegal now because the government wants to be totally in involved no they want to be that incendiary it's amazing getting back to representative sherman about how he was talking about how every single transaction in the world effectively goes to the new york fed us and they have to approve it or not approve it and we're seeing more and more censorship about political speech and free speech being censored financially and big point where the monsters are censorship resistance exotic or a in need of villainy and so 2 people understand what that means to free speech 12 words you can carry all your wealth you know in a fly in a mine do all that say to you can you know if you really have to you can go out you can exit your you know like the place in your being censored or you're being oppressed and you know go so you can do is coming out with a client backed by maple syrup. but i think there is a rumor about the the canadian dollar bill. smell like maple syrup they do when i

put in my pancakes if i can find the real stuff by the scientists grind up a nice canadian loonie as they're called appropriately. and not mean that meal i mean i know you're very glad you're at a fan all the canadians watch our sound like disparaging their loony currents no no i you know what like i'm glad you found some use for the canadian dollar because i can't it's 30 percent lower than it's supposed to be it just keeps on going lower or helpful thanks for being on the concert tour it was my place to all right with us going to do it for this edition of the guys report of me my styles are saying every right thing i guess special guest rebel throw no bag open down i'm going to catch a sunset or its guys reports and next time by all. that's just.

so there's no to do just show the phrase do with the very clear place go. away go to the. management. and the young lady and they have. given you need to feel. something yeah i'm them what do you how to become a song. to me might if this. mean that we can measure the constant next.

if we ever needed an anti-war movement it's obviously now trumps hyper aggressive foreign policy faces little resistance from the mainstream media in fact numerous liberal news outlets function as a cheering section for the president where is the moral outrage. the see on his attorney. born one who. was a real day you. got to know people it's you posting it's going to reproduce. that's the thought of you. if you. finish.

this includes entails the us to states that he's ready to fully restore ties between the 2 countries that are meeting in russia. the us military school publishes a decades long history of washington's interventions in other countries by some as a coup guy. on the saudi arabian ship is hounded by protests at european ports failing to pick up an arms delivery that activists say could be used to kill civilians in yemen.