a decade's old territorial conflict person back into life between armenia and azerbaijan with both sides blaming each other. not just covert infection rates that are rising again in europe and the result the opposite world with people frustrated to see the return of restrictions. i. these accusations. have just gone it's mind lives even now they're just taking it and so i'm going to stay all green. party stop become the 1st foreign minister in russia to take the country's new and take over job as the vaccine undergoes advanced stage 3 testing. those are the headlines are t.

we're back together now with the latest 1st it's the kaiser reports. hey you know back in 2008 when the had the global financial crisis and banks went under of lehman brothers bear stearns and some european banks are going to go under that all of meetings all the weekend long and the policy was not to reform banks but to give them a bigger credit line 1020 times bigger at the time we said you know it in 10 to 12 years so if there's going to happen but a lot bigger well here we are 12 years later and the states are just as you said. it's all unraveling again especially with european banks because they are not the center of the empire they are not rome they are outside so they must suffer but

before we get to that fin send story about the european banks i want to say once again we find toilet paper roll is a precious commodity as lockdowns began apparently there are rush mad rush on toilet paper all over the western world and we're seeing shortages of toilet paper again that was also something we protected. right so here is the headline from wolf street dot com they say hit from all sides european banks stocks swoon to 1988 low leaks about money laundering a resurgent pandemic china risks exposure to turkey's financial crisis all in a negative interest rate environment that is toxic for banks so the stocks $600.00 banks and x. which covers major european banks slumped 5.7 percent on monday to close at $81.00 just a smidgen above the mall 5 decade low of $79.00 set in march the last time before

march that the index was below today's level was february of 1988 during the sell off that followed. black monday in october 1907 when it also slumped as low as $79.00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years it's looking bad right i mean 1988 and the connections in 1987 black monday the crash of that year it's very important and because the solution then was to extend bank credit facilities that's how alan greenspan ronald reagan and robert rubin the plunge protection team or that working group on finance the president's working group on finance decided that they would solve this problem by not punishing or reforming but expanding the credit line of these banks so they did exactly what they were doing but on a bigger scale and then we have of course another major move down in 1989 we had

a bomb crash more or less in 1903 we had the dot com crash in 2000 we had the 2008 subprime crash and each one of these crashes were caused by the exact same thing over indebtedness too much leverage and no accountability no one foresman of regulations by the f.c.c. and then send in others and each and every time the policy from the central banks is to expand credit line and say do it again but do it bigger and now in 2020 we have of now some more thing happening all over again it's entirely predictable entirely preventable but has restrained once said that their job is not to do anything to proactively stop chaos their job is only to react to the chaos by printing more money so if you're in the chaos business and you know you can get bailed out with the greenspan pin greenspan put the the ben bernanke he put the janet yellen put the jape out put in other words you know the central bank's going to cover all your mistakes and let you keep all of your bonus money no matter how

many laws you break while you're not going to stop right well one reason for the route was the release of a. report by the international consortium of investigative journalists on lenders that have facilitated 2 trillion dollars and suspicious transactions h.s.b.c. deutsche bank standard chartered j.p. morgan chase and bank of new york mellon were implicated over almost 2 decades the 5 banks had rich themselves and their shareholders while facilitating the work of terrorists to kratz and drug kingpins the report said so of course i mean we cover this all the time we've been covering we covered precious metals manipulation over and over we had guests who pointed out exactly how it was happening where it was happening at the exact seconds that it was happening and it took you know they got to steal billions of dollars and then they had to pay back some of that and this will happen you know again this time because of course fence and will have to be seen to be doing something they have to respond to this report and do something in the crackdown but they won't crack down on j.p.

morgan and deutsche bank and h.s.b.c. it will seem like it to the news to the to the you know ordinary voter think wow deutsche bank paid 2 $1000000000.00 is a lot of money but of course it's going to be back doored through the taxpayer they're going to pay it out nobody will go to jail in the meantime they will crackdown on ordinary small investors small business people ordinary people and we'll get into that in a 2nd so for it's 11 years i've been saying that j.p. morgan jamie diamond have been funding terrorism and now finn sent us come out and said exactly that and as you say nothing will be done on mean that this i don't know what he alan joe great i mean they go to the doctor he says doctor my brother thinks he's a chicken and the doctor says here take these pills because no you don't understand we need the eggs. so even though if incense says these banks are committing terrorism the justice department will say we need the eggs we need the money we need the revenue we need the profits we need the billionaires. well max what you

describe there is the holder doctrine of course you and i right here in kaiser report cornered eric holder former attorney general of the united states who let h.s.b.c. off the hook many of these articles up and printing out the h.s.b.c. only signed a deal a few years ago with eric holder saying that they promise never to commit any more crimes and these documents show that they indeed can continue to launder money for drug cartels and other people that's really incredible so raises just b.c. i remember that they they cut a deal with eric holder under obama and that they wouldn't commit crimes anymore and then there's they're recidivists you know they just continued to do so blithely can knowing that there's no rule of law go google kaiser report eric holder and you'll see exactly we confronted him on this issue we told them they would commit crimes again he said they wouldn't commit crimes and he thought he did a good job at extracting a 1000000000 or 2 from them and that that was all he needed to do and that eric

holder doctrine does say that they can't go after these big banks because that might jeopardize the entire financial system so what you're seeing as a response from wall street goes into it is that there's a consolidation another wave of consolidation because after the crime wave that led to 2008 you saw consolidation after that the the actual criminal banks the most criminal banks got bigger and here you're going to see the same exact thing again we're going to point out what what this fence and release is you know these are word documents somebody within fence and release these documents and they're considered really really really huge of the top most confidential documents so if would ever the whistleblower who ever released these documents does face like decades in prison if they do get caught but the problem with this is that there are millions and millions. ians and millions of these sars. reported like any time there's any transaction if you receive or spend more than $10000.00 you get

reported to finance and as suspicious activity report you get one of these sars reported on you because the banks. they just send it in just to avoid getting a fine so that we sent you at the fence and so fence and gets overwhelmed with all these millions and millions of documents because everybody has reported not just the bad guys so here they say deutsche bank of paris have the solicitor more than half of the leaked to chilean dollars of transactions which were flagged to the u.s. government but rarely read by investigators let alone acted upon according to do it without expert said that some banks treat suspicious activity reports the sars as a kind of get out of jail free card filing numerous reports on the same clients detailing their suspected crimes over the course of years while continuing to welcome their business right well we thought what do i see banks as being potentially the next lehman brothers and certainly they don't look good at the moment but you know this is a discount cause consolidation is

a key point so remember like the 5 crime families of new york during the seventy's what if giuliani one in their house year arrested him busted one crime family the remaining 4 consolidated it became bigger and that continued until they just had one super crime family that was too big to prosecute and that was a risk right so that's why they came up with rico racketeering charges and were 11 years we've said the only way to curb jamie diamond a just b. c. j.p. morgan goldman sachs b.n.p. all these major banks is to apply to racketeering law that's the only way you're going to stop it unfortunately they're just going to go after ordinary people that will have to be seen to crack down they will go after somebody who's like a small business person with a $10000000.00 turnover a year though marching in front you know the frog march him in front of the. yes incarcerate him for 30405060 years and they'll say see we did something about it because they have to do something now right so if insan is embarrassed by this and

no billionaire banker is going to get arrested they won't get in trouble because the holder adoption already establishes that this will jeopardize the system so the have to in order to maintain confidence from the people in the institutions will have to throw some some low level chumps that's what they used to do with the mafia before giuliani took them down remember they used to throw away a few of the foot soldiers and say see we did something or somebody does time for a few years then if they don't squeal on anybody they move up the organization and exactly the the rackets of wall street are a growing exponentially they'll be consolidation and jamie dimon will make another $1000000000.00 yes so there will be consolidation and i think you know the this issue with deutsche bank and h.s.b.c. h.s.b.c. the biggest u.k. bank deutsche bank the biggest german bank i.e. the biggest european bank so are we going to do anything with them we can't write because those are our allies one of them will end up being acquired by j.p. morgan i think that's clear like it's like u.b.s.

paine webber was a huge intercontinental merger at that time to nobody thought that was going to happen but you'd be more going to buy either deutsche bank or h.s.b.c. well we'll see about that but back in the u.s. and i think you know my theory is that with this next we have a lock downs and this collapse in the banking shares i think the u.s. is just going to have to step forward to you know if this is their empire they're going to have to. because they have the reserve currency they're going to have to start sending checks to europeans british might be 1st i think u.s. treasury secretary menuchin trump would support additional p.p.p. money you know talk of scams here was like tens of billions of dollars just thrown at people we personally know several billionaires that received like $510000000.00 from these p.p.p. loans that are supposed to go right goes into lockdown again you're saying your theory your idea is that the fed will actually start sending checks to british people because the bank of england cannot print money like the fed cat so they're

going to have to do something to keep this system alive and you know just like it's like the equivalent of a marshall plan for it'll be like introducing a new digital currency for the central bank a c b d c and they'll introduce the new digital dollar and they'll send some to all brits and perhaps then europeans but you know the europeans will be a little bit more reluctant to join it because germany likes to have some sort of sovereignty but i think eventuality that either they have really high inflation or they accept this right yes that's awesome that's a great idea well i love helping my fellow brits all right we're going to take a break and when we come back much more coming your way yeah.

join me every thursday on the alex i'm i'm sure and i'll be speaking to us of the world of politics or business i'm show business i'll see you that. there are no doing a good story. for you but so. proud american. because the. city the mothership is. god since we. need.

to give. some distance between. the missions and arms of. welcome back to the kaiser report i max kaiser time now to turn to brian rommel a voice 1st dot expert and around the coin podcast he's an expert in payment systems and observer more of a renaissance man of many technological matters such as artificial intelligence and space travel brian welcome to the kaiser report max thank you for having me here i really appreciate all righty so you also have an interest in music correct absolutely yeah the musician for my entire life also have you ever been to the rock

n roll hall of fame. yes twice and what is your favorite exhibit there. oh my gosh anything has guitars in it so. i walk through the entire place in a high it's amazing when it's right oh i figured as much because your twitter icon has you with a guitar i'm thinking oh this this guy is a guitar man said he way let's move on to the matter at hand so you've got a background of payments and artificial intelligence written relating to voice technology so i wanted to pick your brain a little bit about what's going on with tick tock right tick tock is this app that is a lot like vine was with twitter many years ago but then i've got a chinese version here it seems that the the company's artificial intelligence scares and entices the u.s. government and corporation so is that this tech talk use artificial intelligence and why does it got so many people you know you know they get their feathers in

a flutter great question max i think what's going on is what we would normally call it. older or somebody behavior in context so essentially what's going on is as you engage with content on and thick cock the algorithm or the ai it's really just an algorithm that optimizes cheer when you like starts creating predictive behavior and it starts feeding more types of information that would lead to you in gauging in the platform longer and longer now that sounds familiar that's what all social media platforms are designed to do. but one could say it's almost becoming weaponized to the point where you could actually start influencing behavior based upon a cohort of similar individuals who like certain types of content and that is where

i think we're sort of at that. b.s. where governments are starting to become i'm very concerned it's a valid concern if it's a citizen population of citizen suspending a tremendous amount of time in any type of media and government is always going to be concerned throughout history what that media is and what impact it has on the population and that medium is primarily controlled outside of the dhamma sile chicle government dare get maybe even more concern is equivalent to having a newspaper published by in their country becoming the most popular newspaper in the country right right now are not scientology companies in silicon valley there's a book that came out recently how to make your product addictive and you know the the the apps on the social media sites and gambling sites are sites that do and similar types of. applications and how they are they are that's built into the

protocol that these are to some degree addictive and this is what drives a lot of their traffic and the so. the criticism of tectonic it seems like in on one in one regard the people in silicon valley in the united states are upset that a foreign entity is out competing them because it's that they're doing the same thing that these other apps do but they've taken the artificial intelligence leap right so that they took a tech leap and then the u.s. is saying should let us be thinking more like how do we compete with this instead of how to shut it down there is definitely that going on too i mean you. you're seeing the be diphtheria not only what is this ai doing which is sort of your dystopian type of fear that you're going to get with any new technology some it's overblown but some of it's very valid and then it's fear of

whether or not there is an ai gap between governments and most certainly there is and this is showing up in popular products right getting a popular by accident it was promoted very very heavily outside the united states where became an interest in the u.s. senate and it took off wildly but like everything in 2020 you have to overlay all the other political agendas that are taking place you out space procuress is the world twitter versus the world tectonic versus the world all of these things are interplaying but it doesn't belong i the underlying issue the underlying issue is how far do than does an addictive process become or it becomes. a difficulty in that particular society and i think that's the bigger question. and we're going to start asking more and more time spent on tick tock what's the correct amount of time that somebody can spend on

a particular app and is it worthy of that person's time i think that's going to become part of the social discussion about what happens after this november all right so let's take in the some of your work over there at the voice 1st dot expert and you've done some podcast recently i recommend people you know listen to those because you get into some you know in deep into the tech stack and you know your knowledge is quite pervasive and let's talk about some specifics or so you say a world in which we have multiple smart assistance that we train ourselves through dialogue that is voice and conversation with ai so that it anticipates our needs and intent is not a correct characterization of how you see this developing brian maxx us to very well along and analyze their. especially what i'm seeing is where the next part of technology is going to go for the entire existence of computers humans had to

become more like the computer to communicate with the computer and we're now at the precipice where we're crossin where the computer is going to become more like us to understand our intents and our work to be done when we analyze what we're doing with the computer there's work that we are doing whether that work is liking a cad picture or actually finding a google search where still are doing a tremendous amount of we're doing the work meaning if we're searching for something on google we're getting 80000000 responses we're still having this shift and sort through that response and to try to see what value does it have and sometimes we're not looking for facts as a stand we're looking for a feel of information we're looking for how that information relates to other forms of going for mission so what the intelligence assistant is about is that we are going to instead of doing all this work or selves we're going to have a hyper local highly can textual ighly private why is it local because it should be

on the cloud why is a private because you don't want to bear witness against you and it does go out to the internet but it does it through agents and not directly meaning it's less hackable and of course it's built on a block chain because the whole concept of an early bitcoin miner sure you can resonate with the i believe all of your context that you ever create you should own your context and not give it away freely and put it on a block chain and then if you want to rent it out to say advertisers set of paying a middle party the advertiser pays you directly for that bit of context that you share with them for a specific period of time so your context becomes your valuable aspect of live and then you get to interact with your context what search did you do and 2018. on this subject and what other subjects that you learned since then and that hyper connects those things together and it becomes a dialogue a conversation not

a chart not a bunch of words but a conversation you would have with any like anybody would advance a knowledge expert so become say an alter ego if you will of your style and it and i call intelligence you look at station rather than artificial intelligence a i call it. because i don't really think we'll ever achieve the quote unquote artificial intelligence because we don't really even know what human intelligence is that mean we we think we see it when we know it when we see it but it's not necessarily something that we can now quantify exactly so it's a world away i know that we're going to the question is all of us have to make is who's going to be in control of it is going to be a major corporation and it's going to be in the cloud open training body to have its way with your contacts or is going to be hyper local and block chain so that you can actually have ownership of everything you've ever seen or heard and and read you know and that's that's the direction that i've been building in my garage

you have to well part of your work and what you're talking about here in that we need to get away from the keyboard the keyboard is archaic and as a way to interface with computers it doesn't catch the nuance it doesn't catch the intentions of what we're doing like voice does and so your work with voice capture and tearing and inner ai in voice is to allow for intent to permeate the relationship and so therefore it becomes more predictive and reactive and the block chain comment is you know that is the really a very important aspect to this because as i saw on twitter recently somebody made the point that we're moving from adam smith's idea of the wealth of nations to the wealth of individuals so anybody. israel's have a wealth and that wealth is then if it can't be suitably attached to

a block saying and i can maintain my wealth then i have economic agency in an economy in a purely digital economy and certainly with bitcoin that and that that you know you've got $100000000.00 seto she's per bitcoin conceivably i'll throw this out there. a marketer wants to sell me something and just for on traits of my individual sovereignty is going to cost a fisa toshi just to get just i'm not on the door precisely i've got agency they want my attention it and right now where we're confronted with a fire hose of images that we have no control over we feel overwhelmed this gives us back some control is not a fair statement absolutely max brilliant you know we are in a any ocean of data and yet we're starving wisdom and i have this pyramid concept the very bottom level is data ants information and knowledge and insight

and then wisdom and part of that structural problem in society today i think is we reached our shannon limit our capacity to absorb new information because we're drowning in data that doesn't really serve us so it has had a by directional aspect you have agency and ownership of your context which you've been giving away free in the entire digital era i mean we made this deal with these free services and i don't think we've gotten our value back and some people are saying well my my contacts isn't worth that much. i urge you to really analyze your contacts is probably worth many multiples now what you could ever imagine i loved at adam's. context because i really believe that that's the direction we're going at and so we were kind of predicting a world where the middle. party the mediators are going to disappear and those are the what's called. the people from the past that like google and

facebook who did mediating the advertiser to your contacts you eliminate them by selling your contacts directly when you feel like it if you feel like it and you can withdraw to that time and yes you can you can definitely get paid by a big crowd and that would absolutely change a lot of people's lives well this is great we're going to carry it over for a 2nd segment and that's going to do it for this episode of kaiser at par with may has or stay sarah but i want to thank our guest brian romley so next time by all. the election only weeks away trying to ministration continues its sanctions mania against cuba venezuela and iran has never explained. this is the national interest

also no matter who's in the white house the foreign policy quad is determined to continue to avenge its defeat in. the. original list. always gauge with confrontational.

don't get into any conversation or start answering questions just. to survive and. definitely don't want to be. in the jumpsuit. you're more likely to walk free if you're rich and guilty or if you're poor. you got. one now. so you should be seen in here and a whole lot more than you're saying if you don't take that advice easy going to dig yourself.