credit strategist make stunning admission i am a gold bug for money is a passing fad in the history of money so he said gold is definitely a fee out money hedge he's buying gold and that money will be a passing fad in the long term history of money well yeah this it always has been a passing fad and there's always a return to gold the thing is that when you have money printers in charge the act of printing all that paper money to anger and dies themselves really fills their head with dreams of it's fear supremacy that's the ultimate form of supremacy is i print therefore i am and if you can pull the levers of political power with your fear of money if you can acquire assets with your fear of money that gives you that god complex that we have so much of a around the world and countries and big corporations and now it's all going to come crashing down silver prices on one day in the past week it went up 13 percent

so silver is back it's pass through its long term resistance for the past 6 years 20 dollars and about $0.50 has been a resistance it could not punch above that but it punched through that heading past $23.00 it was like soaring and therefore the bull market is finally back on the confirming the gold bull market as well which never really you know hung out at the $1200.00 level up and down $100.00 from there for a few years as well but the gold bull market started about a year ago and now silver is confirming that so here you know you have this guy who's at the top credit strategist and so looking at the bond markets looking at on top of the bond markets bigger than the bond markets as the derivatives market and of course deutsche bank had i don't know how much of it has blown up with they certainly had the largest derivatives book in the world now passed by j.p. morgan so i just want to show you this interesting chart it's a visual. capitalists chart all of the world's money and markets and $1.00

visualisation each square is worth $100000000000.00 the bottom of the square is silver tiny tiny markets $44000000000.00 crypto currency is about well at the time of this printing about 245000000000 so it's like 5 times as large as the silver market so when you see the volatility and of course tinier markets are easier to move wild swings so you're going to see some bitcoin like moves you saw the up 13 percent you're going to see some down 20 percent days just to put it into comparison the next the 3rd step in this global money size and markets is military spending globally so again silver is just a tiny part of that then you have fed's balance sheet billionaires in the world and gold so gold is a huge market compared to celebrants figure it's the next step up is the s. and p. 500 so you know it's up there with

a huge you know mark in terms of trying to push it around it's harder to write well so over we'll meet the robin hood traders right so gold as it punches through 2000 and heads to 3000 the robin hood traders and now there are millions of them and not only robert a but other apps that allow you to trade without any commissions at all banks alighted trade pretty much about in the commissions are there now day traders at home because of the covert 1000 they're at home in the sports hasn't been interesting and you've got dave portnoy i who was a sports guy and now he's a day trader guy so they're all going to come and look back to so over it's got that unit price cheap unit price compared to gold right it's like 202324 dollars 25 dollars versus the. near $2000.00 for gold so mentally these day traders and robin hood traders will say all this is a lot cheaper so they'll pile into it as they did in 2012011 when you know we saw it go to $50.00 an ounce based on the crash j.p.

morgan buy so over a campaign now if you want to basically crash all banks tours around the world by so for get it up to $100.00 yeah i mean at the time that we did that it must be noted that j.p. morgan and inherited bear stearns huge naked short position on silver so they were totally vulnerable to. the price the physical price of silver rising they are now one of the largest holders of physical silver in the world so you cannot crash j.p. morgan by driving the price of silver up in fact they will benefit because they do own a huge position in silver they know never to do that again but in terms of this you know comparing it to bitcoin and the movements of bitcoin of course peter schiff who hates to coin and he's a big gold bug and also a silver bug precious metals bug i do want to point out that on the day that silver rose by 13 percent he brought in that comparison to bitcoin but not in a positive way but what i'm saying is they are very similar and and how small they

are relative to other markets and so one flows of capital go in there they do jump and drop wildly silver is up more than 13 percent so far today while big coin is barely up 2 percent silver is the new bitcoin except with direct utility so a big find bugs are dreaming about bitcoin going to the moon they're missing their real life moon shot in silver right well you know peter schiff is right to put big coin sober and gold in the same category they're all store of value. a big point is closer to gold and that 90 percent of all gold is used as a store of value it hardly any of it's used as for utility value at all if that's what peter schiff is referring to in terms of so far it's uses you till the value killed you value actually is a drawback for so we're just like companies who make money and make earnings are not richly valued by the stock market the stock market likes to put wild valuations on companies with no warning no profits and we've seen that many many times and

once you have an actual number they're so sober having some quote utilities actually a drawdown but in terms of the performance going forward i would go with of course paul tudor jones who is you know let's face it i mean peter schiff is an ok guy and he has done has been somewhat successful but paul tudor jones is is $100.00 times bigger magnitude scale of success and he has said he's buying bitcoin over gold because it's the fastest horse in the race where every dollar of that gold will go up we're going to see $25.00 to $30.00 in bitcoin appreciate and silver yes sobers always going to be along for the ride but still the fastest horse in the race and peter schiff will have to get schooled on this again and again like he's been for the last 10 years but next 1020 years he'll be wrong of course it's bitcoin i want to point out you know paul tudor jones also has a huge gold holds or he does own a lot of gold and for the same reason that this credit strategist at deutsche bank

says paul tudor jones has articulated and i think actually in the last week as well that the fight system is toast because it has to be it is inevitably going to crash because of all the money printing and because of all the money printing that begets more money printing because now the population who has been sitting home receiving 75 percent of the population receives more income now than they did before the crisis so they know. that this is possible that you could just print money and give them money so they're going to demand it they're going to vote for that they're going to demand their politicians and their of elected officials give them free money that's just like banks have been doing for the last since alan greenspan provided the greenspan put they've been demanding ever since he did that in 1907 then we've always had worse and worse and worse and it's grown and grown and grown and that's part of why the derivatives bubble has gone but now that the people know this is the moment where 'd it has to end because it's inevitable yes it is it's

inevitable it's like a cycle of the planets or the seasons or the tide or the presence of gravity this is all was without without doubt and forever more recurring from mom and mom were paper money collapses and we go back to some kind of gold slash bitcoin standard so i want to show you the 10 year silver chart because of course report has covered silver for 10 years and you know here we were covering it back here and then it went up to $50.00 and a lot of that had to do with the crash of the market by silver campaign they were accumulating silver all the way down and then even more during this 6 year base there that is remarkable because i couldn't find a 20 year chart but if you see the 20 year chart it's down here so this is still that's that that was the 2nd leg here is going to be the 3rd leg and the 3rd leg in a decade's long bull market is pretty wild so we could see we could see

you know in this time it might be different but it we could see pretty huge price gains over the next few years and silver right i agree with you that it's no longer the case we can crash j.p. morgan by so far because out there are huge so over holders we understand that but this is a chance to crash the money system because when you pull money out of fear and put it into bitcoin gold and silver you are de capitalizing if you have money system even more it was just a mouse. but the banks for example in the us are starting to cost of the big coin right there doing that because they're panicking their fear reserves are becoming increasingly worthless and they need something of real value on the balance sheet or the definitely after the clarence often say this time and the silver price went up 13 percent in that day and that who knows what was the actual cause of it some say it was eric sprott up in canada he's a multibillionaire and he was putting 1500000000 into physical silver for his

investment fund also the consulate the chinese consulate in houston that day was filmed i guess burning a whole bunch of documents after trump had ordered them out of houston so that is part of that deal globalization and dollar ization whatever the burning of the documents are you know we saw the same thing in cairo when the revolution happened there and they weren't down the building in which the police tortured people for the cia and then you know the cia entered the scene and burned all these documents so that's what happens but it's a obvious symbol of an end of this era it's over de globalization de dollar ization and so you know that is the trigger for this move and whether or not it can ever go back down because we're at the end of the system the system and this the dollar is ation and globalization and d. china for cation yeah i thought i was just in sun burning some tromp. you know they like to do that every now and then to cover up the. yes i felt queen in case for

those of you who are out there who don't know that we had lots of warren buffett you know us right now used to own a lot of solver warren buffett years old to afford all. that guy's racking up some bank. anyway we're going to take a break and when we come back much more coming your way. i know to no crow. no shots. actually felt. no. points your thirst for action. a dark industry comes to life in los angeles every night. dozens of women sells

their bodies on the streets many of them underage. los angeles police reveal a taste of their daily challenge if you're going to exploit for a child here in los angeles there are going to come as you see officers going undercover as 6 workers and customers to fight 6 trade.

welcome back to the kaiser report i'm max keiser time now to go to j. p. barrick capital ventures j.p. welcome thanks for having me on again guys sense of you're all right call now sir you have a background and bitcoin mining is mining still an option for the retail investor whether with a home mining operation or a cloud mining contract a pay for the retail vest investor mining is definitely still an option i wouldn't touch my contracts all right ok i've done that sounds exciting now let's move on to china china is currently estimated to have 50 percent of the big coin mining power while the u.s. has about 14 percent do you expect the u.s. share to grow and if so how why where within the various states so yes we do expect the u.s. market share to grow we expected to grow in texas and in upstate new york we're

seeing that you valuation of the energy market in texas is providing a huge opportunity for our miners simply the recent federal government has put out a lot of incentives to build solar in forms and so that's incentivizing it's huge amounts of capacity about 20 gigawatts of renewable energy to come online in texas which helps miners because it lowers the power price in that area we're seeing power prices in the low $0.02 and even sometimes one cent for negative pricing during times when there's too much power on the grid so miners are definitely poised to grow and expand very rapidly in texas and in upstate new york you know j.p. and this current environment where the fracking industry it's coming under a lot of criticism rightly so because it's never really been profitable from day one it's ecologically devastating and it's going out of business

the. having story going on in texas for bitcoin would seem like it would deserve mainstream financial media headlines because it is an american energy success story your thoughts i definitely agree with you i think that our miners are going to play a tremendous role over the next and its 20 years in great optimization in providing more grid stability providing 100 percent to pasadena providing more capacity on the grid but big farm owners have the ability to turn off for that one percent of the time where we all need energy so when the speaker plants of this natural gas and sort of running during the hot days that only run from each and 20 hours a year those plans are no longer to be needed so i see it for money in 6 huge success story for the energy industry in for the industry as a whole the problem is as you guys know pick our money has had this bad picture of oh we're using too much energy it's bad for the environment and the media doesn't really like to talk about it and the banks don't like to finance it so there's really not much of an incentive to bring the interest industry the forefront what

we expect over the next 10 years that that story will change and we're excited to be on the forefront of changing that story so following up on that point other countries same to be waking up to the fact that switching over from gas and oil to pick cotton mining seems like a shrewd move in terms of developing a hard assets to possibly put into their reserves and d.s.a. other countries really picking up the ball and running with it in a more strategic way if so can you name a couple of countries they think they're really waking up to the possibilities hair and is the united states possibly putting itself behind the strategic 8 ball by not waking up to this opportunity j.p. suhr so on the on the question of what countries who seek coming into the space and if it's going to leave the united states behind we're seeing that iran has recently published some new big mining make elations and are providing very very cheap our

countries. like ukraine are starting to look at this and are looking at mining had nuclear plants and larger so at least countries such as brazil are looking at. working with their state owned companies to mine cryptocurrency used there are tons of energy generation assets out there and because of coded the energy usage patterns of consumers and businesses has changed across the world which is requiring a lot of these energy companies to rethink their strategy in the united states we're still haven't got there to the point where we have a support from either the banks or the big energy companies but people are started dabble in what crypto currency mining could mean for the bigger picture expression as it begins to stay all and more capital is invested in the space play just film and capital ventures what are you all doing over to our own capital ventures briefly. sure so our capital venture is now working on building out large mining

facilities in conjunction with some of these. privately owned energy companies and some of these larger energy facilities so with big time mining it really fundamentally challenges the want to some sunni how about electricity and that is that needs to be transported to the end consumer with big mining we're actually able to bring the consumption directly to the production and this fundamentally changes how we look at energy as a whole so we're working with natural gas plants some of these larger nuclear plants and some of the solar farms wind farms to consume the energy when it's not needed by the grid directly on site so that's how or in company ventures a scaling up we're also looking at projects between 50 to 250 megawatt range and so we've moved from previously working on smaller one to 2 make what projects me talk 4 years ago just dealing with the industry and really building out large deployments large consumption projects on some of these stranded energy generation

assets so you mentioned direct production directly to consumers to consumption and south that is a new model right. yes it changes how we how we view on it she simply you know before you had to go transmission lines to define a consumer you don't know if that consumers they buy 247 or join the day or night with big time ayers we run 247 we're able to turn off immediately and not affect our profits because we get paid on a per 2nd basis so we only lose you know that hour or 2 hours of downtime we're not showing any processes that are like running server farms or running websites where we are a consumer application so big time as one of the only applications that can consume a large amount of power in sicily but then actually we leave that power and send it back to the grid and let the power plant sell the power back to the grid when it's worth more during those hot summer months old winter days you know our friend marshall law has become a miner in texas made the comment race only that he considers himself to be in the

energy arbitrage business do you think that's what it's all about going to comment on that. yes that is what it's all about and marshall is an o.t. in the space spending there for very long he understands that energy for mining is or to prove it is of energy allows you to buy a tool of energy or actual lot of energy locally and actually sell it to a google marketplace and as banks and as finances twosomes and as energy companies understand this we expect the industry continue to grow rapidly grow this ability to sell energy to the i now work at any time of the day and always know how much we're going to get for it is really revolutionary and it's one of the reasons why big point it or mining has grown rapidly in the expected keep on growing over the years right here is kind of a broader picture question here so the t.c.p. ip protocol that is the protocol for the internet bitcoin many argue is a protocol and the dominant protocol for money and it was the 1st time in history

that the software revolution that transformed all industries starting in the seventies and eighties hit money and so the network effect metcalf's law a proliferation of contacts have a day all the things that have transformed industry around the world using software and networks finally hit the industry of money it self so the question is that you know entire industries were wiped out by the t.c.p. ip namely the music industry had to be completely transformed and reinvent it so you do you expect the same thing to happen with the big point protocol to totally transform the global economy as we know it may be central banking as we know it in banking as we know it in which industries do you see being wiped out other than the bank of international settlements and various other central banks j p. as you know i've been a big advocate for big car and for the past 8 years now so i do believe that it has

the potential to be centralize how we still trust or how we transact value over the internet some big things that i see block change and big or more specifically disrupting our as the 1st you know most prominent one would be the energy industry it's a very regulated industry and it's becoming more unregulated and there's a process as a procedure is being don't allow us to sell power back to the grid and work with the new host so that's the 1st industry that i see really kind of going to have to adapt and work on this new model be able to consume and consume power right where it's generated one of the other industries i see is on when it comes to time influencers whenever we spend time and watching it influence service aims their music video watching their tech talk so that you tube videos i see a huge opportunity for tokens to enable these influencers to work directly with their fans and actually capture

a lot of that value that's created at brand loyalty and brand value at the token level currently most of that values capture the platform level where the media is being distributed so on you tube on say talk on spotify and hopefully will see over the next 10 years wasso tokens or lots of watch games to come in and help replace that value transmission level not that randall a level of community is coming together and really. pushing for an idea with the proper token economics of the proper structure for a token you can incentivize a community to promote that artist so that influencer so those are 2 big us areas where i've been spending on time and where i'm actively working on improving the overall experience for consumers and for all the partners who are right kind of follow up on the site have token talk to make an omelet so you have they have a quite proud of it clearly as i laugh. asked jack that had roughly 85 percent of

all the hash right walt the block changed all the crypto projects and that number would seem to going to increase as you have more institutional players in to pick wine as they quote mining becomes more institutionalized and so when i think about some of these other projects and the past like the hard forks because i said tell us evasion or bitcoin cash for example it seems that the question is not really if they have any utility but the question is more will they attract enough hash rain to survive. because they quien has is the protocol of money it has established itself like to see pay i.p.s. stablish itself so the problem with these other projects based on the cell is that they are useless but that they're just not going to attract enough energy to keep going your thoughts. i agree with you completely that the hatchery is

a key indicator on how much capital or how much energy is putting is getting is being put into the watch a security we see that watching is the most important thing is to make sure it's here and as you mentioned some of the other other ports of big point don't have anywhere near that security most people when they come to the industry to learn about big point the riginal big point e.t.c. and then they can learn about the other changes but it's important that when they're making that decision that they're they're basically joining ecosystem and when they join the ecosystem is a lot of things considered security being one of them but also the onboarding ramps so being able to work with companies that have spent years building myspace is super important obviously those other tokens will always be around but people have to question do i really want to secure my financial freedom or my financial well being into this law change that isn't a number one and as you know in most industries the top top corner the top

competitor grabs 80 to 90 percent of market share i think you see that with a point of that. gray thanks for bang on the kaiser part. thanks again guys for having me pleasure heidi well that's going to do it for this edition of the kaiser report with me max kaiser and stacy ever want to thank our guest j.p. barack you want to catch us on twitter it's kaiser report into like time.

we go to work. straight home. and illegal takeover of government by a small group. rather than revolution reason. that small group the corporations when you have a tiny group of people who have all the power you have to have some means to make sure the rest of us don't get together and take it back. please or sacrifice some. places that capitalism exploited and destroyed for profit and left behind misery poverty environmental devastation and so you see things like voter suppression building more prisons you seem gerrymandering all sorts of undemocratic practices were well in the world for well over history.

of the. 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 show business i'll see you then. donny and by north it's so many people because they copied him you saw the board that even such a bad copy sending. i'm not feeling too good to me but he got on the field to find the next guy. who looked up live on canyoning approving done the in philosophy that blog she even

dumped the attempt. to deflect some moves for the c.e.o. saying he has a deflection what is comfortable saying. that is going to be that when i got our mini answer for. that he and others are going to hear a lot about that. that you can bank on you've got nothing like a. long long while and then you also want to bottom there's a playlist which i live and control cannot hold. and oh a new person and a journey move $100.00 gandhi a new normal i'm going to run the cities across the room to keep you know do you then go to mock you then they will join you.

not so secret anymore a key source in the discredited trumped russia collusion report from 2016 is a massive it's revealed too that is evidence was based largely on the bar room conversations facebook takes a year regulators to call claiming their competition probes are an invasion of staff privacy and the army isn't lost on data protection campaigners plus also to come this hour president from pollsters federal forces in the city of portland after weeks of black lives matter protest criticism mainstream local leaders who accuse him of abusing his powers and the mother of a 12 year old boy dragged from his house by officers in the middle of the night over a toy gun accuses london's police.