currency in terms of privacy or protection ok yet totally not crypto and bad is the goal and what's the point here if there is no there if you can track everything better than you can with paper money is the goal of this currency to eventually replace all that cash and paper money and for china to become like completely a digital currency society. well look i think the chinese will say and they are saying that it's not going to replace all cash you know things with remain the same it would just take some cash out of the system and move it into the system i don't believe that at all i believe that absolutely the long term goal here is to replace all cash 1st of all a lot of the asian countries are already nearly cashless society as they're much further ahead than we are in the west in terms of using digital payment systems and outs on their phones to pay for things with this system eventually you get to the point where yet people can't deal in cash at all and by trying to make cash as worthless as possible then you remove the kind of the black market element to it people avoiding tax

game just this past news cycle we heard that china is going to come out with some kind of crypto coin because. they want to get away from fee out they starting to see the limitations of money and other countries have announced a we're going to get into crypto that's one part of my question the 2nd part of my question as you've got these huge sovereign wealth funds like and cutter that are bleeding due to the oil and gas collapse are they good places to take a look at crypto are bitcoin i should say and say you know what let's put a few 1000000000 or half a trillion to work in bit coin do you think the game theory that's built into the protocol will find its way into the sovereign wealth fund level and the global central bank level is that where we're headed sampson i definitely think so because it is inevitable and eventually everyone will be using it it's a question of when they figure out that they should be using it so those the nation states that are rolling up their own currencies. it's often said that they're competing with bitcoin but i really don't think they are that they're

it only sounds like it in every other way other than being a digital currency it's nothing like crypto currency it's more like facebook's libra because that's also not a crypto currency and the big differences clearly the fact that you have the people's bank of china which will be issuing this they don't even have a name for it yet they're calling it d.c. for digital currency or e.c. for electronic currency and essentially it would you know be set up as a digital currency but there's no privacy there's no way of not being tracked through it in fact the chinese government would not only be able to track everything you're doing with it but would have access to your bank accounts that you're putting these funds in to be able to monitor those bank accounts at all times so it's nothing like a crypto currency in terms of privacy or protection ok yet totally not corrupt and bad is the goal and what's the point here if there is no there if you can track everything better than you can with paper money is the goal of this currency to eventually replace all that cash and paper money and for china

the only places i could find where attachable day-to-day transactions were being conducted in the crypto currencies and precious metals. i'm sure many of you can already guess, but the reason why you can buy for specific value is because of the changing volume of the coinage overtime. so, basically the metallic content of silver half dollars in quarters at times changed on the date that they note there is a whole kind of new hampshire libertarian hobby that is to get rolls of quarters and dimes from the bank and then hang out in your house at night going through them looking for the characteristics sparkle that helps you identify the pre- 1964 quarters and then just returning all the rest into cycling through the banks on the inventory. so you go to buy socks or chili or what have you libertarian enclave event to be conducted by smart phones were through transacting silver. there was a very specific kind of question of how is it the people that like this one thing like the other and it is because of the way in which both of them could theoretically be known. a when i asked him why he got

the washington post recently published a piece about a swiss company crypto agee that was actually owned by the u.s. central intelligence agency and west germans intelligence agency crypto eiji provided encryption services to over 100 governments worldwide for decades unbeknown to those governments the cia had access to the encryption tools and could therefore read high level internal government correspondence from countries including france egypt and as well and many others what this means is that at the highest levels of the us government including the white house every assassination every act of ethnic cleansing every disappearance of a dissident every terrorist attack every order to carry out torture whether that took place in guatemala or saudi arabia was known by the united states joining me in the washington studio to discuss these revelations is william binney a leading intelligence expert who worked at the national security agency for 30 over 30 years so bill it is a great fascinating story yeah were you aware of it when you know i wasn't actually go but but i mean it makes sens

the washington post recently published a piece about a swiss company crypto a.g.t. that was actually own by the us central intelligence agency and west germans intelligence agency crypto eiji provided encryption services to over 100 government .

seen a bit of a crypto shares have risen the last few weeks.to us about what is driving some of these trends. ripple is private, so our shares don't trade publicly. x rp has traded up and down. you are seeing a flight to talk about the flight to a noninflationary app. at a time u.s. governments around the world -- the governments around the world are treating dollars of stimulus and valuing fiat currencies. this calendar year, the crypto up.et overall is about 11% gold is up 13%. the s&p 500 down 15% to 20%. you are seeing a recognition that digital assets, they are noninflationary and store of value can be effective. you will see that play out in the 12 to 36 months. that happened after the 2008 great recession. after that you saw the birth of bitcoin and using gold as a proxy historically. gold is up 100% after the session. about what do you think digital assets will be changed after this crisis? we wonder what the new normal will be, how long this will last. i'm curious what trends you expect to see. >> it is hard to make predictions. not to

business, and they're very much linked i think crypto right now, hard assets and gold have a big positiongeld and a very big position in bitcoin. i think bitcoin has this moment right now where just today we did half a trillion of stimulus. just money growing on trees and my mother taught me when i was young, money doesn't grow on trees and so as we have more and more just fiscal stimulus, being monetized by the central bank, more and more people i talk to want to find something with scarcity they're only 21 million bitcoins that are ever going to be mined and 87% of them have been mined and next month the inflation rate gets cut in half and so there's a really good story and the problem we've had up until now has been one of adoption and i tell you, i am seeing more and more people starting to buy, calling me up and wanting to learn about it and so my sense is that you're going to have the mack o macro tailwind and gold has its story and it's going to put new highs in this year, and so i think that's a really powerful story that, you know, policymakers will continue to play into. >> so y

exchanges, with valuable crypto currencies. he hacked atms and withdrew the money in a decentralized way. nowhere is it more truth than banking operations. >> host: it was statement sanctions. >> guest: this is a priority for the regime to raise currency and this is one way to do it. >> host: i was surprised he wrote, north korea operators, that opens up the question, if they are risk tolerant and do they have regime that doesn't care about international norms and laws what do you think they could do next in the hacking world? >> guest: this is only a question. i don't want to say this is real but a hypothetical thing that has been raised is if north korea is comfortable deleting transaction laws and interfering with integrity of the financial system, and interfering with the integrity of the financial system to do damage and any banker will tell you these transaction records are at the core of modern financial system and one worry, that north korea might come back not for the purposes of funding the regime but for the purposes

all of us part are actually in banking you have a background in banking you've been a big coin and crypto banker since 2011 you wrote the book bank for the future and you outlined a lot of these issues with banks and i've been studying money for decades now i want to ask you a theoretical question and get your thoughts in my view as as you describe the situation with all this money printing and debt monetization and the government in the central bank taking control of the majority of the sovereign bond market the miss the majority of the corporate bond market the majority of the mortgage backed security market and the majority of the stock market are we not setting ourselves up for what you might some might call like neo feudalism where you've got a few central authorities with 99.8 percent of all stocks and bonds in. stands and then everyone else is living like a peasant so you just have peasants and lords i mean i mean think about that for a 2nd i'm live on top of the question so the big coin having arrived next month simon dixon some call it quantitative tightening its block will be re

years and all the big point traders around the world and those who have been following big point in crypto i've been waiting anxiously for this it's seminal moment every 4 years when this happens and what are you expecting if anything from this and can you just talk a little bit about it and we go to my patients that i think in terms of short time price movement i have no idea it could go either way we do have some data that we could go by based on the last 2 have anything. that could give an idea but i'm not going to go and make a prediction based on that because we had to have ngs and are having and then we are and then sort of a special situation right now but what i do know is that the calling is unlike any anything we know today and we're used today when it comes to money is disinflationary acid in the world of hyper inflated i'm limited yet so our central bank put drupal our money supply and in the meantime decline is becoming scarce so it would be very hard to believe for me that an event like the having that house the production of the client would not significantly push the price

the washington post recently published a piece about a swiss company crypto a.g.t. that was actually own.

and money printing big point still remains a safe haven asset and crypto markets remain one of the only truly free markets left so betting on bitcoin is basically a bet that deflationary pressures well when and right now we have about 1000 years to go and traders are lining up new bets now and while there are those people who still doubt declines viability like our good friend peter schaeffer let's take a quick look at the recent whiling just by renaissance technologies they are the juggernaut want hedge fund that had just liable to begin investing in big point in cash subtle natures with its flagship fund so this is really really significant because the medallions fund has been one of the best performing fund since inception in 1982 and they're currently up 39 percent year to date while most funds are underwater so this kind of adds to because strategies into renaissance and this is a big institutional firm which is basically given a bit quite the stamp of approval and some mending its place in the capital markets going forward not only big claim but we report on this earlier kristie y

are resistant to any use and get a metal plate to replace your paper well as i recommend stuff like crypto thiel or bill fall. and it's basically a metal plate on which you write down your seat were and if you're a parent you can use that there are. now you know how old it is just if you're going because there is always the next big threats to take into consideration ok glad thanks so much for being on kaiser report ok well that's going to do it for this edition of the kaiser report with me max kaiser a lot of thank our guests glad cost yeah he's the host of the big coin takeover podcast if you want to get a touch with us on twitter it's kaiser report until next time. it's not c. was the last one most with. this community there are people who believe that it's ok to sell fractional food on my table it's really hard there are no jobs and you see that i've got kids and ask and as a parent. i can come up with lots of arguments there's a lot of conflict in the game between the 2 most of the conflict i would say almost around money and most of them money has made. us want to know each other. ea

trying to and shell and now this isn't really a real crypto currency like what we've been talking about it's basically a central bank back digital currency is the b.b.c. and while the application is quite impressive it does allow for faster processing rates and all that it does go fundamentally against everything that the currently stands for so with all transactions will be monitored and stored and if you go slow essential you have instant access to people's wallets even in the rural areas so china hasn't officially announced a timeline for launching its digital r. and b. but secular action is building are ready as you can see acidic bank analysts noted that the total size of trying to digital currency could reach $140000000000.00 over the coming years and that's going to be going to about. market definitely interesting how this will play out we have about 45 2nd answer talk i want to get your take are we expecting to see and retest the lows that we saw in march and the market as we keep getting hit with the negative numbers. i think of the remain negative and i believe that you will d

are into security you should get a medal play to replace your paper well as i recommend stuff like crypto thiel or bill fall. and it's basically a metal plate on which you write down your were and if you're a parent you can use that there are. now you know how old it is just your you because there is always the next big threats so you consider the situation ok glad thanks so much for being on conason report ok well that's going to do it for this edition of the kaiser report with me max kaiser a lot of thank our guests glad he's the host of the big coin takeover podcast if you want to get in touch with us on twitter it's kaiser report until next time. the world is driven by dream. thinks. we dare to ask. do you believe in miracles would seem democrats to you after the job i searched on super tuesday for example fear of the bernie sanders candidate may now be contained however this is far from over taking on trump no we seek out. people who lived in towns to which access is now restricted are allowed to revisit their homes a few times each year everyone is given a meter to show how much rad

does allow for faster processing rates and all that it does go fundamentally against everything that crypto currently stands for so with all transactions will be monitored and stored and the p.l.c. will essentially have instant access to people's wallets even in the world or areas so china hasn't officially announced a timeline for launching its digital r. and b. but speculation is building already as you can see acidic bank analysts noted that the total size of trying to diddle current think could reach one $140000000000.00 over the coming years and that's going to call into about. market definitely interesting how this will play out we have about 45 2nd answer talk i want to get your take are we expecting to see and retest the lows that we saw in march in the market as we keep getting hit with the negative numbers i think of no you will remain not negative and i believe that you will will well take out the lows and we should at the end of day go much lower before we start to really go higher and never chance to make noise well it's definitely been a roller coaster hopefully it will become

are into security you should get a metal plate to replace your paper well i recommend stuff like crypto thiel or bill fall. it's basically a metal plate on which you write down your seat were and if you're extra paranoid you can use that everybody back and now you know how old it is to just if you're in bed or in because there is always the next big threat taken sick consideration ok glad thanks so much for being on kaiser report ok well that's going to do it for this edition of the kaiser report with me max kaiser a lot of thank our guests vlad cost you know he's the host of the big coin takeover podcast if you want to get in touch with us on twitter it's kaiser report until next time. because the saloons blew them so much. and good news was before. much of those who heard it's a preview of the moving soon we will. move . move. move show you this new you liberal media click to. move most of these girls did you good. go to shows to look but to distribute belonging to show you stories should go. told. to do it with the little one must see look it is it's. not a chance to. try to present

paper well so i recommend blood crypto with your bottle. and it's basically a metal plate on which you write down your seat were and if you're extra paranoid you can use the therapy but i. know you know how old it is to just if you're in bed call him because there is always the next big threat to take into consideration ok glad thanks so much for being on kaiser report ok well that's going to do it for this edition of the kaiser report with me max kaiser a lot of thank our guest glad cost you know he's the host of the big coin takeover podcast if you want to get in touch with us on twitter it's kaiser report until i stand by you. ask i wouldn't. you like to. do like to see that you don't. want to have all the kook on the scene do it in the lab now as you. know a lot of people keep. going. to the snakes to learn and to find the. so when you hire the moody try to use in to do . one thing with your house on their own classroom. do you believe in miracles would seem democrats do after the joe biden search on super tuesday for them the fear of t

are into security you can get a metal plate to replace your paper well as i recommend stuff like crypto theel or bill fall. it's basically a metal plate on which you write down your seat were and if you're extra paranoid you can use that there would be. no you know. just if you're in big court and because there is always the next big threat to take into consideration ok glad thanks so much for being on kaiser report ok well that's going to do it for this edition of the kaiser report with me max kaiser a lot of thank our guests glad cost you know he's the host of the big coin takeover podcast if you want to get in touch with us on twitter it's kaiser report and i stand by oh. it's a let me. ask i wouldn't. take i'm. not trying. to show. you love to. do like to see that you don't. want to have the kook on the scene do it in the hour now as you. may want to thank you for. being. with us tonight in $92.00. so when you hire the movie tried to use in do. one thing with your house on their own classroom. your government and our government and all the other major governments of the world know w

are resistant to it you can get a metal plate to replace your paper well as i recommend stuff like crypto thiel or bill fall. it's basically a metal plate on which you write down your seat were and if you're a parent you can use it very. well you know how it is just curious because there is always the next big threat taken certain situation ok thanks so much as a report ok well that's going to do it for this edition of the kaiser report with me max kaiser a lot of thank our guests glad he's the host of the big coin takeover podcast if you want to get in touch with us on twitter it's kaiser report until next time. it's a let me. ask i would then we'll. take a. look at the record not the chemo. can you look to him a little. time to make to see that you don't want to. do what you have with the kook on the scene do it in the lab now that you had checked on. the little people he. knew of those the moon the little known to the snakes to learn an item from the. higher commodity tied to use in to do. just. that every project had in the. one that he meets your house on them. well redacted tonight

are into security you can get a metal place to replace your paper well i recommend stuff like crypto thiel or bill fall. and it's basically a metal plate on which you write down your seat were and if you're a parent you can use the therapy but i. know you know how it is just if you're in big oil and because there is always the next big threats to take into consideration ok glad thanks so much for being on kaiser report ok well that's going to do it for this edition of the kaiser report with me max kaiser a lot of thank our guests vlad cost yeah he's the host of the big coin takeover podcast join a get in touch with us on twitter it's kaiser report until next time. your government and our government and all the other major governments of the world know what's going to happen and when it's going to. but they haven't told you and they haven't told me they haven't announced. imagine something as big as the earth. is going to cause tidal waves or earthquakes volcanoes erupt and it's going to chill. so very for a while right. my great grandfather's quote. nobody would care about the law or

there is a lot of leverage in the system and the asian retail side of crypto.t of asia. and thea-u.s. relation china european relationships are going to be looked at in lots of ways as the dust settles. the heaviness we have seen overnight, bitcoin is down 500 points, is mostly coming out of asia. i see newve side is players every day. having coming up. bitcoin is an instrument with no inflation. the inflation rate is getting cut in half as the fed is saying we'll print as many dollars as you can want. erik: among your fellow investors, many of whom i know you admire, who do you think has traded this crisis most brilliantly? michael: i have not been speaking to him, but looking at his returns, alan howard always seems to have the book position for the crises. he pulled it off again. he is up 25% on a large amount of capital good alan is a smart guy. he buys risk premium when it is trading low. he has done well. business,hedge fund the macro business has done very well in general. , if it isulti-strats millennium or ken griffin at citadel, all up on that year. t

much broader campaign often with less success with a great deal of success with other very valuable crypto currency they also hacked atms all over the world and withdrew the money in a decentralized way silly characteristic of these operations as they continue to evolve and nowhere is that more true than in these operations. >> host: debate could >> you mean this is something that is a state sanctioned. >> the priority is one way they do it. >> this opens up the next question if they are risk tolerant today of a regime that doesn't seem to care about the international norms and all what do you think they could do next? >> this is only a question and i don't want to say that it's real but one hypotheticals thing that has been raised if they are comfortable deleting the transaction logs into the integrity of theeg financial system to get cash, would they be comfortable manipulating the transaction and interfering in the integrity of the financial system to do damage and i think anything is how you these transaction records are at the core of the modern financial system and at this point it i

in situations where these teenagers and online, go on the dark web, by drugs using that coin, the crypto currency and have these drugs delivereddirectly to their door . >> you talk about the anonymity of the dark web some of these healers on the dark web were so confident in their anonymity that they were willing to talk to you, a reporter acknowledging yourself as a reporter in some depth about what they did. >> i was surprised, i wanted to interview dark web dealers and a number of them talk to me and one was willing to meet in person so this was a dark web dealer who was selling different analogs of fentanyl. so after fentanyl was banned these different analogs were still legal in china so what he would do is order different types of fentanyl analogs from china , then sent directly to his home and he would repackage them and sell them on the dark web. so i wanted to know his story . how you can morally justify this type of action considering the sign there. >> keep going, you never know what's going to happen. >> it's a metaphor maybe of this literary festival. >> the scene by the way