it is -- is crypto currency the answer? it is one of those i'm glad you asked that question questions as politicians running for office always says what they mean is i have no idea what the answer is. as a libertarian i want a medium of exchange, a kind of money that adheres to libertarian principles. actually, money that adheres to just one libertarian principle would suffice as far as i'm concerned and this is the privacy principle. what i do that does not physically harm anyone else is none of anyone else's business. go. businesses could not deal with medical crypto currency would seem to be a private kind of money libertarians want. it is private in the most important senses of privacy. first crypto currency is not public and therefore not subject to government public policy. the public policy with monies to issue as much as the government feels like issuing. government treats money like a stalker treats posting things on your facebook page was a couple clicks of the federal reserve keyboard and there's another creepy r

companies remain under lockdown around the world what constitutes an essential business and where does crypto currency fall in that designation we bring in a boom bust handle for insight into the packed show today so let's dive right in. and u.s. president donald trump on thursday escalated tensions with china over the handling of the coronavirus pandemic saying the trade war between the world's 2 largest economy is now of secondary importance. we signed a trade deal with is supposed to buy and they've been buying a lot actually but that now becomes secondary to what took place with the virus the virus situation is just not acceptable you know the situation stems from the u.s. president's assertion that china could have done more at the onset of the pandemic . this is something could have been contained at the original location and i think it could have been contained relatively. easily this china is a very sophisticated country and they could have contained it they were either unable to or they chose not to and trump was asked whether the u.s. may retaliate by not paying its debt obligation

and i know this wouldn't be actually like a mining of the crypto for the monetary purpose where we talk about like a big big coin mining farm couldn't they put all of their resources into this to help this make push this cool technology. yeah i think the absolutely could i mean the reality is this though that that bitcoin and cryptocurrency one of the powers of it is to not be centralized so yes you're absolutely right and chris is right when he talks about these these farms and the big rigs that they have but one of the great things about crypto currency is the ability to diversify in decentralized technology and that and also includes using rigs or computing power that's broken up over a large group of people geographically as opposed to everything being centralized so there's a lot of power also away from the farm side of it and just among those cryptocurrency miners who are able to do this from their own location and i'll bet i want to diverge a little bit off of the mining sector here in crypto but speaking of the dark web which i mentioned earlier there there are some reports that

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 hey 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 our 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 are the nation states that are rolling up their own currencies it's. it's often said that they're competing with bitcoin but i really don't think they are th

we're seeing at our shop just a huge increase and interest in bitcoin and gettings into crypto crypto's not easy to buy, it takes a while to get set to buy it it doesn't happen overnight, but i coined that phrase a long time ago. i think this tutor news is very big news in some ways it takes the career risk out of looking dumb it may or may not work people aren't going to say, you're a fool too do that. that's tulle indianapolis. no, it's seen as a legitimate value about i think now we need hedge funds to mature for sure >> i want to know if bit coin goes to 50,000, does he grow the mustache out or does he shavei off in. >> this was a corona mustache, i tweeted before, i think -- this may be my last appearance because i'm so sick of this quarantine maybe if i take it off. >> we've seen in the past, a selloff of 30 to 60 days, are you positioned where we have the selloff and then the rally comes? or that's the last two times and we're not going to have it again? >> i had an original strategy of selling in and buying the pull back, we've seen so much activity that i didn't sell a thing. i

in fact, i have no use for crypto currency. the price of one bitcoin is down this morning, i checked but it's been hovering lately around $7000. but if you want to buy, i have a banged up old volvo station wagon i got for my teenage kids to bang up some more, and if you offered me one bitcoin for that volvo station wagon, i would tell you to bite me. it's because i am ignorant. i'm confused by the mathematical intricacies used to form the computer program block chains that underlie cryptocurrencies. i'm confused about a lot of things. i'm confused by women which didn't stop me from marrying a delightful one. i fly on airplanes all the time with no idea why they take off or how they land. but i'm particularly confused on the internet. i look at the internet and i think whose bright idea was it to make sure that every idiot in the world is in touch with every other idiot? [laughing] also, as far as i can tell the internet is an enormous hacking industry service by a small global interconnected computer network. and i fear, i fear

currency and kristie that made a very important point there which is that this currency this gram crypto currency is a real threat because it was not a security it was an actual currency that was going to go on telegraph network and remember telegraph was essentially doing the same thing that libra was later trying to copy them and do through facebook which was to create this peer to peer exchange and we're going to bank the m. bank telegram was actually do. oh and it seems that we may have lost ben's feed there. let's just end that segment there kristie i and ben swan to busk oh thank you so much for your expert analysis and the world health organization's chief scientist says it could take up to 5 years before the coronavirus pandemic is fully contained during a conversation with the financial times global boardroom dr summit swami nathan added a vaccine could be the best way out of this dire situation but questions remain so let's take another global look at the trends and spread of the current a virus with r.t. correspondence i tablet or so i was told where we are today in the united

who wants to get into your business now the owner of telegram wanted to do the same thing with a cryptocurrency the technology would create an open free decentralized exchange of value and ideas sounds great right no not great says a u.s. court who is stopping this from happening joining us now is my colleague ben swan to explain what's going on what is it what was it going to be and why is the cord saying no way. yeah yeah so reckless start with what exactly took place there so telegrams you said you gave a great explanation for what telegram is for folks who haven't they understand how it works right it's in to end encryption it's privacy through messaging it's very different than what we have through other tech companies then what they did was they created something called tom or the telegram open network which was going to have a crypto currency attached to it which they were going to call grams and those grams were part of what was called an i.c.a.o. initial coin offering 2 and a half years ago it was the 2nd largest initial point offering ever 1700000000 dollars was raised from ar

is crypto currency the answer.t's one of the i'm glad that you ask that question, what politicians always say and what they mean by that i have no idea what the answer is. as a libertarian, i want a medium of exchange kind of money that adheres to libertarian principles. actually, money that adheres to just one libertarian principle would suffice. what i do does not fiscally harm no one else, it's nobody else's business, period. business is conducted with money, crypto currency would be the private kind of money libertarian wants because it's private in the two most important senses of privacy. first crypto currency is not public and therefore it is not subject to government public policy and government public policy with money is the issues as much as the government feels like issuing. government treats money like a stalker posting things on pagebook page -- facebook page and grants are increasingly worthless and worrying. unfriending the government, very difficult to do. [laughter] >> second crypto currency encry

the term comes from the greek word crypto meaning secret or hidden it points toward the cryptographic encryption used for all components of the currency system. this technology is much safer than usual encryptions all information from balance a transaction is secured in a block chain meaning in a cryptographically encrypted protocol this way user data is stored safely. depending on the type of currency some of them are fully anonymous and nobody can see your payment history and that is a much more secure way of maintaining anonymity and payments. could potentially be as secure or more secure than cash. but this anonymity only comes with specific cryptocurrency the advantages of digital wallets are easy to use they allow for quick transactions with a high level of security at least when you follow basic data protection guidelines one big disadvantage is the sensitive data you leave behind when you pay how much money i spend on water and when is very interesting to businesses and they're willing to pay huge amounts to know what's it like for you wish you well as do you use and why. that

how he is positioning himself for the crypto comeback. we start with today's market selloff, wall street wiping out its gains for the week as tariff tanks stock. say that 20 times fast having its worst day in months, this is the chart that had us all scratching our collective heads, bonds barely budged so bk, we go to you, what is behind, do you think, this market conundrum. >> it's a little strange, you would think with the fed buying, they reduced their buying, the market, the dow down 600, not much inflation out there, you would think that bonds would be absolutely flying and they're not. what do we know? we know that treasury bonds are owned by a lot of sovereign states you look at something like saudi arabia, japan, china, perhaps they need capital, a lot, you know, has to do with the oil decline. perhaps it's investors getting a built spooked that the u.s. has to raise an awful lot of debt and the only buyer out there is going to be the federal reserve, but it's really strange. it was the one thing that stuck out to me today because

will safe haven and not just because by the way but other crypto currencies as well if you treat them a safe havens and say i'm buying in today let's see what this is worth in 5 years or 10 years i think we're going to be pretty happy now but i want to touch on this because we're not seeing some massive major players were actually measure this earlier like multibillion dollar hedge fund manager paul tudor jones who order of diversifying their portfolios with because jones even compared because potential to that of gold in the 1970 s. why is because considered better by an investor like him i mean obviously he has more money to play with say a day to day and i don't i mean but he's still seeing that value. sure he absolutely is well there's a couple of things you know big queen is superior in a few ways to gold and that's not in every way but in a few pretty specific ways one is it gold is difficult to transport it's not very portable obviously because it is because it's all digital so it's much more liquid and you can you can move it around if you decide you need to use that point at

an interview something he was asked about bitcoin and he said well it's you can't have a national crypto currency because they are transnational they're not they don't they're not something no borders no borders right and we're within 5 seconds stop pushing himself as probably the only world leader anywhere that even has any understanding of crypto and bitcoin at all and finally i want to end with these 2 things that show you that the dollar is doomed and this is the death now these are the last days that the dollar it's a petro dollar system so here is the price of oil going back to $870.00 this is the 1st time it's negative both nominally and in real terms and finally of course that you need an economy you need a thriving wealth producing industry you know leading power in order to rule the world and here is debt to g.d.p. vs velocity of money this is the death this is this is it since 2000 it's been dying velocity of money is way down it's in the hands of a few they think that you know the game's over right that's exactly what happened the soviet union you know we're recreating the so

out of this current spot joining us now to discuss our bus co-hosts christiane and ben swann are crypto experts and we have a lot but you guys are the best now kristie i want to start with you what happened last week and where are we headed this week. well brand declines rally got rejected at around the 10 k. mark and that is a major level of resistance that we've been banging on for a couple months now so we're consolidating right below that in the made a thousands now so the entire reason is because miners are the ones right now contributing to the selling pressure they're now selling more than they my and part of this is because the break even cost of a quote mining is now at about $12000.00 following the having and given that the price of big point is actually right now nowhere near the $12000.00 mark this means that miners will have to sell portions of their existing supplies in order to cover operational costs so in the cup the currency market right now there are 2 completely unmatched sellers miners and exchanges so minor sell into the market in order to cover their costs and exc

currency in general it's easier to use something like a big coin or crypto currency compared to gold which takes physical space to store which requires you know more hoops to jump i mean where do you store it where do you keep it if you really want to it to protect it i can do that on a flash drive whereas somebody else would have to have a huge safe someplace boom bust co-host ben swan thank you very much for breaking that down for us. and that's it for this time because boom bust of the brand new portable t.v.'s of ale on smartphones through google play in the apple app store by searching portable t.v. and you can also catch us as always at youtube dot com slash boom bust r t c n x time. you cannot be both with the yeah you like. yeah it's. easy to guess that if you give away or you gain or you think you could only take you to go to egypt if you could. still see. the dakota some was not jealous and that's not true when it. comes to surely things lesley's influences don't just. judge the cure's not major news clinking you sit there still clung. mostly to. look for greatest are you f

currency in general it's easier to use something like a big coin or crypto currency compared to gold which takes physical space to store which requires you know more hoops to jump i mean where do you story where do you keep it if you really want to it to protect it i can do that on a flash drive whereas somebody else would have to have a huge safe someplace co-host ben swan thank you very much for breaking that down for us. and that's it for this time because boom bust of the brand new portable t.v. episode on smartphones through google play on the apple app store by searching portable t.v. and you can also catch us as always at youtube dot com slash boom bust r t c n x time. ts how did a hot tip international memorial awards are now open for entries all media professionals and eligible whether you're a freelance journalist work for all terms of media or part of a global news platform to participate in the show published works in video or written for much. go to award dot altie dot com and then to now. we go to work so you straight home. join me every thursday on the alex salmond sho

future of money storage a bit of currency in general it's easier to use something like a big coin or crypto currency compared to gold which takes physical space to store which requires you know more hoops to jump i mean where do you store it where do you keep it if you really want to it to protect it i can do that on a flash drive whereas somebody else would have to have a huge safe someplace co-host ben swan thank you very much for breaking that down for us. and that's it for this time because boom bust of the brand new portable t.v. app of ale on smartphones through google play on the apple app store by searching portable t.v. and you can also catch us as always at youtube dot com slash boom bust r t c n x time. r m 3. doesn't do it and you have a little people in it but i'm going to member i think that leads. to the problem. buddy in to. earth do we know was really grew are strictly speaking what he she used to mean. business which was just a muslim president. and that she was that of a brain you knew sister you knew he was asked. how are you going to strip off how are you going to prote

future of money storage of it of currency in general it's easier to use something like a big coin or crypto currency compared to gold which takes physical space to store which requires you know more hoops to jump i mean where do you store it where do you keep it if you really want to it to protect it i can do that on a flash drive whereas somebody else would have to have a huge safe someplace co-host ben swank thank you very much for breaking that down for us. and that's it for this time because boom bust of the brand new portable t.v.'s of ale on smartphones through google play on the apple app store by searching portable t.v. and you can also catch us as always at youtube dot com slash boom bust r t c n x time. we go to work. straight home. that's right here right now is the ticker symbol for hair it's a closed end fund. and you can buy all of the care. that we feature here on this episode of kaiser report it's currently trading at a market cap of about $3900000000.00 but we're expecting the fed to come in in front run the market and take us up to a much higher capitalization possibly 7 o

currency in general it's easier to use something like a big coin or crypto currency compared to gold which takes physical space to store which requires you know more hoops to jump i mean where do you store it where do you keep it if you really want to it to protect it i can do that on a flash drive whereas somebody else would have to have a huge safe someplace to bust co-host ben swan thank you very much for breaking that down for us. and that's it for this time because boom bust of the brand new portable t.v. episode on smartphones through google play on the apple app store by searching portable t.v. and you can also catch us as always at youtube dot com slash boom bust r t c n x time. when i last saw it seemed wrong. i don't really see just don't call. me. yet to see. this thing become active. and engaged with equals betrayal. when something you find themselves worlds apart we just of the common ground. welcome to max hazard and it's a survival guide. 2 year. yanks this is what happens to pensions in britain. you watched as a report. you have a lot of people where you can keep blur

to crypto okay s. h. i. with he said that a time he him. felt he was a victim and you may have found this puzzling. now this voice is cocoming why did you accept the dialog box to moan who's since the very day street which will follow the thirty two number twenty fifteen myy cononcern. hs beat the *-*- out how can we prevenent future tragedies like this and what contribution i could make to this prevention. ministry action. all the sections are very important. but i don't see myself contributiting effectitively in that way she was a fan but things need to be done in terms of prevention. to not fall into the trap set by terrorists which concern would consist. of organizing a religious warar on our territory. and. to provoke the six million. to live yes. hello i suppose that was apprehension the terms thank you to the kfx little bit a worry- ends the next day i didn't know what i did i mean we wanted all of me you too i wasn't shocked b by the fact tht he saw. so also as a victim. those who all what is on the head with. physical because it be

we'll tell you what just happened in china that sent disney shares soaring as the crypto world gears up for the great having bk will give you everything you need to know stay with us save hundreds on your wireless bill without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you'll only have to pay for the data you need- saving you up to $400 a year. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. it's the most reliable wireless network. and it could save you hundreds. xfinity mobile. >>> welcome back to "fast money. apple popping on news that it will reopen u.s. stores next week check out shares of disney jumping as disneyland shanghai opens. the tickets sold out in just minutes and the park will operate at 30% capacity and the visitors must wear masks at all times. no parade, fireworks and social distancing for the rides and no up-close pictures with mickey or any of the other characters and that's a dr

you got that here's another famous image now on the crypto twitter sphere this is pink whoa jack and it's money go bur yes i know you're thinking i look a little bit like pink lo jack know jack jack well jack i think we're jack yes i do look a little bill if that's prince or go home to her money printer cove think whoa jack go burrow now was this. this is a printer roll or this started the american revolution because this technological advance allowed newspapers to get out quickly and allow the word to get out that we need to revolt and we need to change everything in the america to become independent who invented this my great great great grandfather hugh bax well that's right he invented this 1817 but after the revolution. and what's this fears of me i'm going to have this is a laundry press looks like a printing press sorry laundering money with a printing press i think whoa jack who's a conducting me more fair. what's all this mean stacy 5th yes all of these are not headlights and actually that's why i'm also wearing my only stark carrier due today because i'm looking like why.

crypto and the sea arms for this whole space so i think that space has been them post probably a little bit later than others because he's a very much a liquid as you claim is that it's no accident anything complicates it if you can avoid it while others prefer the complex world now. cole going in obviously he's good friends with sandra camilla he's good friends with a bunch of other people and at the at the moment she starts convincing others to get involved and i think most of them have been both somewhat but if they something in the hedge fund counseling and i know that is happening because you know i get e-mails every day from you know some of the world's biggest hedge fund saying listen how do we do this they all of doing it they will fail shorts but here pool is now go to him and as you rightly say mr missing out becomes even bigger and if it does generate alpha then we'll have a choice because alpha this is a very macro well right now so it's actually relatively easy to make money for macro playoffs but in the proceeding period you know if they'd been allowed to use big coin or o

are doing our part to provide easy access to your crypto via the mastercard that we have launched.pend from comfort of your telephone via apple pay or the android solutions just as easily as you would with any normal card. the user-friendliness is coming and i think this is where the different type of companies and googles amazons and will transpire out of those companies that can provide user-friendly solutions and we like to think of ourselves as such. anna: thank you very much for joining us. it is good to get your thoughts as we look ahead to this halving episode. coming up, tracking the coronavirus. different countries have different strategies when it comes to contact tracing. we will talk about the most effective methods. what do they have in common? what is different? and how useful will they be to getting us through the lockdowns here in europe? we will talk about that next. this is bloomberg. ♪ anna: welcome back to the european market open. 44 minutes into a positive monday session. we need to talk about what is going on in the u k and more broadly when it comes to the u

you got that here's another famous image now on the crypto twitter sphere this is pink well jack and it's money go birth yes i know you're thinking i look a lot of i like think lo jack no jack jack well jack i think we're jack yes i do look a little bell if that's prince or go home to her money printer thank won't jack go burrow now was this. this is a printer roller this started the american revolution because this technological advance allowed newspapers to get out quickly and allow the word to get out that we need to revolt and we need to change everything in the america to become independent you invented this like great great great grandfather hugh bax well that's right he invented this 1817 but after the revolution. and what's this series of medium you know that this is a laundry press. looks like a printing press sorry laundering money with a printing press 5 think whoa jack who's a conducting me more fair. what's all this mean. if yes all of these are in our headlines and actually that's why i'm also wearing my own as our kara due today because i'm looking like wyatt langham f

question is does big coin remain the standard and does big coin remain a truly decentralized autonomy as crypto currency as opposed to what happens when governments do it will never be a tell us when the government creates a digital currency and it will never be decentralized the very nature of government currency is to have a centralised so i think were big does have this opportunity along with other coins as well has the opportunity to really push forward in this moment is to say you cannot trust that governments will do what they say they're going to do and so that's what we need to centralize currents it's you know kristie finally about 30 seconds here but has been quite been able to thrive during this pandemic i mean i know it's been more volatile there's been some bounces but what is it doing what you would expect at this time. it actually has because during this entire pandemic especially if you look at countries like venezuela argentina trading volume has never been higher since that's and we've always said that in times of crisis this is where quite a currency really shines and you've

china's moving away from the dollar they're moving toward a hard currency they're going to use a crypto card say they've already announced that now and next thing they're going to announce that that's going to be back in part or entirely by gold as i said all right let's take a break when we come back much more coming your way. join me every thursday on the alex simon sure and i'll be speaking to guest of the world of politics sports business i'm showbusiness i'll see you then. time after time corporations repeat the same mantra sustainability it's very important to accelerate the transition to sustainable prize board sustainability stay in her manner a more equitable and sustainable well. they claim their production is completely hamas. leave it to congress on the mountaintop and it does not the present companies want us to feel good about buying their products while the damage is being done far away this is something else this let's keep going down even and i mean look. this is the move in unison we didn't dream and einstein seemed to be based on that one disc that looks good to clint

china's moving away from the dollar they're moving toward a hard currency they're going to use a crypto currency they've already announced that now and next thing they're going to announce that that's going to be back in part or entirely by gold as i said all right let's take a break when we come back much more coming your way. but i. didn't see it when. i was on the floor some things in my back you know trying praying. it's time for us to. i was having children fever i didn't have any sense of. loss you know. would you. recently she you know sometimes you just used to. have didn't. push myself to do this for me in the face i'm going to. go. to war we've got to do is identify the threats that we have it's crazy. let it be an arms race. spearing dramatic development only really i'm going to resist i don't see how that strategy will be successful very critical time to sit down and talk. welcome back to the kaiser report i'm max keyser time now to turn to nick jam brunel he's a geo political analyst who is currently in argentina nick welcome great to be here max now argentina like lebannon