j.p. morgan christmas party entertainment what would you do. for the curse of party entertainment j.p. morgan that's a good question i guess we'd have to hire some. of the cast of the soprano's to come in and reenact some of the famous scenes there where several people got a whacked i think that would be very entertaining you could tape it put on paper of you i think it's a fantastic way to extend the brand of j.p. morgan j.p. morgan most of soprano's bankers get gunned down while you're cheering on the likes of tony soprano this is a great cross media opportunity to fly even high to the south full day christmas party for those will street bankers we're going to pick up. oh well i'm going to stick. my think for a christmas dinner for the banks there's again he have to give them a visual reference of what happens when a ducks like them are plucking the world economy their livers get extended in fat to the point where they must be harvested so twenty fourteen over the year that the world harvest the bankers liver they take all that money that's been stuffed down their gullit and they break it up like a pin yada and all that money is distributed to those events screwed and plucked in abuses by these horrible banks or so twenty fourteen is the year of the banker pin yada everyone should get a big stick and prepare themselves for this i got a lot of talking to about what's going to be inside those c

j.p. morgan j.p. morgan most of soprano's bankers get gunned down while you're cheering on the likes of tony soprano this is a great cross media opportunity even high that the staff full the christmas party for they. were going to cook up. oh well i'm going to stick to my theme i think for the christmas dinner for the banks there's again he have to give them a visual reference of what happens when a ducks like them are plucking the world economy their livers get extended in fat to the point where they must be harvested so twenty fourteen will be the year that the world harvest the banker's liver they take all that money that's been stuffed down their gullit and they break it up like a pin yada and all that money is distributed to those who have been screwed and plucked in abuses by these horrible banks or so twenty fourteen is the year of the banker pin yada everyone should get a big stick and prepare themselves for this i've got a lot of talk going into about what's going to be inside those christmas cracke

j.p. morgan j.p. morgan made.

j.p. morgan funds. withth anastasia amoros j.p. morgan funds. is this a good decision today?> this substantial and self sustained recovery has been achieved. is anotherthat confirmation that we are in the late stage expansion part the business cycle. yes, the stocks continued to perform well throughout that stage. >> robbert van batenburg, do you agree? >> the problem that i have with the monetary policy is that very few people have articulated that there is enormous unattended costs involved. >> that says what? >> two things. why is there such low inflation right now? the reason why there was low inflation is because the fed has been going on asset prices to the point they have not settled back to their proper balance between supply and demand. the average american is getting squeezed because of high asset prices. properties or commodities. started, ben bernanke was at $35 a barrel. ever since he embarked on qe1, 2, 3, it has been around $100. that is a half $1 trillion tax on the american public per year. >> there are two things. there is inflation and an increase in the pr

j.p. morgan and their sons and daughters program at the top of the show here they have a renewable of u.s. patent number six six zero nine one one three and the article says that j.p. morgan chase's patent states the company's intention to develop a virtual wallet for consumers with a virtual currency it allows for anonymous free payments online right well j.p. morgan is obviously going to try to tie up the big point market in patent by patent trolling. and they came out and said this immediately i must talk about patent druids i know it's something british but this is patent trolling these are trolls not british people and they're going to tempt to try it out because they want competition and when this came out yesterday i mean tweeted about it people are immediately went to j.p. morgan's defense. oh they're not really going to try to put going out of business we have to trust jamie diamond to go he's an inveterate liar we just we talk about the show for years but every single day so it comes out of his mouth was a lie he's more just to us than the frickin royal family and he says he's not going to attack brooke because why would we give this guy the time of day we already know he's a frickin liar so if course he's going to try to go on using patent laws the same way that the recording industry tried to attack people engaging in their fair

j.p. morgan funds. -- with anastasia amoros with j.p. morgan funds. is this a good decision today? >> this substantial and self sustained recovery has been achieved. with that, that is another confirmation that we are in the late stage expansion part the business cycle. yes, the stocks continued to perform well throughout that stage. >> robbert van batenburg, do you agree? >> the problem that i have with the monetary policy is that very few people have articulated that there is enormous unattended costs involved. >> such as what? >> two things. why is there such low inflation right now? the reason why there was low inflation is because the fed has been propping up asset prices to the point they have not settled back to their proper balance between supply and demand. the average american is getting squeezed because of high asset prices. properties or commodities. oil, when ben bernanke started, was at $35 a barrel. ever since he embarked on qe1, 2, 3, it has been around $100. that is a half $1 trillion tax on the american public per year. >> there are two things. there is inflation

j.p. morgan chase the foreign corrupt practices act and the corruption of america the justice department has just obtained documents showing that j.p. morgan chase wall street's biggest bank has been hiring the children of china's ruling elite in order to secure existing a potential business opportunities from chinese government run companies according to internal e-mails released as part of this investigation one e-mail said quote you all know i have always been a big believer of the sons and daughters program says one j.p. morgan executive in an e-mail because quote it almost has a linear relationship to winning assignments to advice chinese companies. j.p. morgan back in the news is always committing some kind of fraud or malfeasance or this is what happens when interest rates are low they kept artificially cheap. like if you have cancer and you're eating foods that help grow the cancer i forget which would say an agenda carcinogenic food if you eat carcinogenic foods or a limb maybe next door to.

j.p. morgan chase the foreign corrupt practices act and the corruption of america the justice department has just obtained documents showing that j.p. morgan chase wall street's biggest bank has been hiring the children of china's ruling elite in order to secure existing a potential business opportunities from chinese government run companies according to internal emails released as part of this investigation one e-mail said quote you all know i have always been a big believer of the sons and daughters program says one j.p. morgan executive in an e-mail because quote it almost has a linear relationship to winning assignments to advice chinese companies. because j.p. morgan back in the news is always committing some kind of fraud or malfeasance or this is what happens when interest rates are low they kept artificially cheap it cyc if you have cancer and you're eating foods that help grow the cancer i forget which would say an agenda of course. genic foods if you eat carcinogenic foods are a limb maybe next door to. radioactivity you might get some poisonous radioactivity and when you keep interest rates cheap as they do at the federal reserve bank or mark carney here in the bank of england you spawn cancer of cancerous incestuous ball because mel for middies like jamie diamond and j.p. morgan that are now eating up eating swallowing the economy as only well not only is our global financial system and banking system backed by seemingly maybe one or two units of debt and they keep on pasta caving and spinn

j.p. morgan christmas party entertainment what would you do. for the christmas party entertainment j.p. morgan that's a good question i guess we have to.

j.p. morgan chase. target is probably kind of appreciative of the fact that j.p. morgan has stumbled, in no way. they had to limit the usage of some of the same customers who happen to have chase credit cards. they said it was for everyone's protection, but the fact is right now everyone is mad because there were told they can only take a certain amount out of their atm. as i said, just six closing bells away from wrapping up an epicure for stocks with a big, red, sparkly boat. can anything happen to change the picture? well, one at least, but 2014, cleared saaling. we have traders. at least until 2014. is thereeanything over the next couple of sessions that you think might derail something or are there just not enough players? >> it is tough a line even if there were, who would come out and say anything bearish? people have got so sheepish about in these -- about making any sort of bearish call. with five trading days left, the market typically averages just over 1 percent in a positive. that trend continues to be bullish. 1840's probably likely. i don't see much of a derailment . there are thi

j.p. morgan chase the foreign corrupt practices act and the corruption of america the justice department has just obtained documents showing that j.p. morgan chase wall street's biggest bank has been hiring the children of china's ruling elite in order to secure existing a potential business opportunities from chinese government run companies according to internal emails released as part of this investigation one e-mail said quote.

j.p. morgan deliberately failed to alert regulators to the ponzi scheme despite numerous red flags made off had a two decade long relationship with j.p. morgan prior to his arrest in two thousand and eight and now a central factor in this case is why a formal report was not filed here in the u.s. in regards to concerns about meet us business yet the bank did file such documents with authorities in the u.k. well it looks like twenty years and billions of dollars will buy you a little bit of loyalty at j.p. morgan that's for sure now finally dell is really thinking outside the box here when it comes to trimming fat off its business a spokesperson for the company confirmed that dell is asking its employees to quit in what dell is calling a quote voluntary separation agreement kind of like an amicable divorce if there ever was such a thing now in a written statement from the company dell says quote a critical element of our strategy has been and always will be about improving our cost structure and freeing up capital to make investments in growth areas that matter to our customers it's clear that dell is looking to free up cash and trim expenses after founder michael dell took the company private this past october and a twenty four point nine billion dollar buyout i must say though in the name of holiday cheer dell's anti layoff option seems pretty civil law as compared to the alternative that just being regularly laid off well there you have it will be checking these stories and keeping

j.p. morgan and goldman sachs and that is becoming. as you wipe out the low cost victims of financial terrorism by h.s.b.c. and barclay's and j.p. morgan you're going to have to start targeting people more in your own country to see what's happening in the u.k. or the u.s. financial terrorism like we saw r.b.s. the world bank of scotland a couple down a southport were financially terrorized by osborne cameron and royal bank of scotland and that's the point that's the dirty war the dirty wars it's dirty money it's dirty money war so that's why the film at the end of the day lacked a lot of it because it failed to get into the real dirty financial aspect of what these mass extrajudicial murders it's all about the money you know it to think that it's about some kind of a moral deficiency by some group of people is to not understand that sense more ality doesn't trade on the new york stock exchange there is no morality there never will be more reality and so you can't even start from a place of morality you have to start from a place of sublime three hundred sixty degree corruption that has no beginning or end it's a mobius strip of corruption and it all goes back to the terrorist of terrorists the central banks and anything less is to then to sell out joe blow my mind e bay founder pierre oh my god force on a big fat paycheck and not come on a show and talk to the people is unconscionable in my opinion it shows a lack of professionalism and journalistic integrity well like i said there were dirty wars across latin america and this film is like just looking at the corpses that had been thrown out of the planes by us back to taters there and saying we're trying to humanize the victims here but without understanding why were people being thrown out of planes why were nuns being slaughtered across central america why why was that happening the context of course would have been at the time i suppose conspiracy that you like dirty conspiracy theory that any corporations that they would have any interest. throwing people out of planes so you don't have to dress up like a soldier and play soldier games in afghanistan you know and spend a lot of money on plane tickets and harassing people to death just going to wall street i mean this is why i my number one journalist in america without a shadow of a doubt is matt taibbi because you understand the key problems and he writes about them in ways that people can understand that's why he's on our show often because he understands that were on the side of exploring absolutely the inner machinations of the true war being perpetrated by the two terrorists did you catch them in a just b. c. barclays bank of scotland lloyds j.p. morgan goldman sachs that were they were they factor into the dirty wars and this is just a big you know to travel video what he should be like that guy does cooking around the world at the port anthony boarding should be germy scale should be doing some couscous and cabin and doing a cooking show for all of for all we care about him digging down into the true causes of what's happening and there's all this true dirty war instead of roadkill like there's that road kill cook chef you have on chef it should be drunk don't you know we had our mistake no there isn't a pretty good have another outfit on it in other words your guy and more mascara and he could be like oh it's don't kill you know as actually i'm going to give him this red pepper and we're going to send it to him as a first episode of this traveling. right it's cook wars with jeremy scahill ok well stacy we got to go. and that's going to do it for this edition of the kaiser report with me max kaiser and stacy everett i want

j.p. morgan they put these high frequency trading servers right next to the new york stock exchange so as trades are churning on the exchange then j.p. morgan and goldman sachs like this parasite they take using high frequency trading they glean or they scoop or they steal cash all day long so this is again it's a very instant parasitic relationship now ben bernanke you're not janet yellen will argue that wall street needs parasites america needs parasites and jamie diamond is doing the good work of a good parasite but when the parasite gets bigger than the host as in the case of jamie diamond or lloyd blankfein the parasite gets bigger than the global economy then you have a parasitic world driven by parasitic needs ruled by parasites and that's not really help. anybody well the parasite and the host get bigger and bigger and they need to consume more more more to sustain themselves but you know look back at that image again and this is the absurdity this is exactly as absurd as the banking system is right now is like this little absurd creature sitting at a fish's tongue. you know you can just look at jamie when he's on the news like. you know that's to me as a parasite. you know and as money comes into wall street jamie scoops it up. and it comes into his gills and it makes them stupid you know parasites one of the ugliest so obviously in that situation with the tongue eating ice of pot if you will put out the fish no longer has a tongue so it needs it but we're going to look at these next few headlines to whether or not we can remove this absurd ugly sort of fish tone that we have in our own banking system iceland reveals one point two five billion dollars in mortgage cuts to aid recovery the icelandic government said on saturday it would right up to twenty four thousand euros off the mortgage of every household making good on an election campaign promise despite international warnings over the plan so we have a situation where they're going to rip that little creature out of the tongue of their banking system people internationally warning them against this are of course the o.e.c.d. the i.m.f. the likes that are speaking on behalf of the you know the lobbyist for that little creature inside the tongue or at the little parasites are these huge lobbyist but not so nice and so i suppose doing what people used to do is right up bad debts because this is ultimately what the only way you can deal with a situation that grows exponentially larger than the underlying economy can support you have to write that off that was going on for hundreds of years thousands of years only until recent times as the debt then allowed to rule like some. megalithic godzilla just finally eating oh so iceland no way yeah and that's the important point you bring up is that the tongue if you compare it to the tongue in the fish the banking system this was a normal procedures is how we always operated for thousands of years is that debts that couldn't be repaid wouldn't be repaid they would be written off or the bond holder would pay the investor would pay here. all of these of bailouts and crises around the world in last five years is the bondholders are never asked to pay and the creditors are always made whole at the expense of the population so here they're basically writing off about thirteen percent of the average debt for an icelandic citizen right now their household debt to g.d.p. is about one hundred eight percent but they're going to finance the government. by taxes on banks and funds managing assets of banks which went bust during the two thousand and eight financial crisis so they're actually taking it from the people who caused the crisis and that are still there own by foreign creditors right so the icelandic government made the simple question of cause and effect you had a parasitic group of bankers who stole lots of money and then want to hiding in places like london to escape the long arm of the icelandic law and now they're figuring that you know what these are the people that stole the money let's put the money back to the people that got victimized by financial terrorists in iceland and that's how they're dealing with the problem but in the in britain though they still they still basically lionize financial terrorism osborne and cameron prey on their little maps every day to financial jihadi and they pray to to whoever they pray to the market fundamentalist god that these financial jihad these continue to destroy the economy whereas i slammed apparently the leadership there does in fact have a brain well here in the u.k. they've kept interest rates at zero percent and also most importantly really stoked the housing bubble and this is the result and this little tweet here from i.t.v. news average disposable income of working households drops by six point four percent to twenty five thousand seven hundred pounds according to official statistics is that when asked incomes for retired households actually went up by five point one percent of course the retired households tend to own the property so they're receiving the ever diminishing income of the people who are working so this is the very parasitic relationship by the way as well not so healthy but the u.k. suffers from obesity and they're calling that healthy growth but it's not healthy growth it's obesity they're obese with debt and of course that could only end up in a catastrophic collapse now i want to also look at another sort of system of removing the. the absurd creature that is the tongue of our global financial system of capital allocation and payment systems and remittances because that's in the news this week in bloomberg news they report service targets kenya remittances with cut rate fees a kenyan startup will take on remittance providers like western union company by using the bitcoin virtual currency to cut transaction costs for kenyans working abroad who sent home one point two billion dollars a year so they're hoping to gain one percent of this traffic that's their small ambition in the beginning and that six thousand five hundred transactions the month the cost will be drastically reduced down from say it will cost about seventeen dollars right now to send two hundred dollars back to kenya where they'll reduce it to about six dollars so will distance or mediate put out of business various companies are in the remittance business they charge exorbitant fees compared to the same process the same service being provided by a bit going for a fraction of the cost so around the world people that were you know coin are now pro big coin i think famously joe wizard all over there the business insider he basically had a mayor culpa he said that he was completely wrong about bitcoin. so digging into it and realize the learning curve is still quite fresh for joe he's kind of a has no knowledge of it i think of my tweet where i suggested he blows brains out . in reference to his stupidity and darts to bitcoin i think finally was like getting it in the face of the web trap well it shocked him to he was scared straight the thing is ok we talked before about you know the row snapper used to have a tongue it was a normal tongue that looks like a tongue and perform the function of a tongue then this tongue eating ice a pod came in and sits like an absurd creature in there and then the community of get used to that here we also get used to an absurd payment system where. a lot of people like joe isn't all before think that it's absurd that we could ever replace the currency system we have now even though we've only had it for forty years they're like this is their world our fee our currency system has replaced a system we've had for thousands of years of gold and silver backed currencies and based on something but and we've grown so used to this thing sitting in there and our monetary system that we only insist that way that this is the normal way once we remove the parasite however we're starting to see what could happen and what sort of innovation and new technology is going to merge all of these types are moving over to bit and they're becoming more vocal about it going so the trajectory of the market capitalization of it going it will head to that four hundred billion dollars market winklevoss twins of suggested means a price many many times the current thousand dollar per but going price well in fact a lot of people do obsess about the price this is the mainstream media only ever talks about it when it soaring then a little bit if it crashes but the thing about the bloomberg article is pointing out it's far far more than that it's way more revolutionary so different from anything we know we are where you saw an ice a pod world a parasitic world where the exchange rate is the only thing that matters whereas here there's a new revolutionary system that is displacing it now you came up over the weekend with a great idea i thought of ice coins and so apply this system the bitcoin to iceland and what they could do to create a new system for themselves but well i suppose all that especially for a geothermal energy and the cost of mining bitcoin us to the hard cost the real cost in terms of value to do it the cost of the mining in the energy that goes into it iceland could create ice coin and they could be a world leader in the crypto currency market and they would have a huge source of revenue and they could be a world leader and they could be doing marvelous things leveraging on their geothermal energy because as you pointed out in your tweets. they can't really export that geothermal energy that was always a big problem for them for they are an energy giant the likes of would be or saudi arabia or russia but they can't export it because you can't put it in a pipe and send it out right so convert that into essentially a crypto currency then you're doing free mining and then you can use that as a medium of exchange so big going to have a major competitor which is healthy competition is good if iceland develop their own crypto currency called ice coins so i would look forward to that and that could be again another nail in the coffin for the current status quo banking services like j.p. morgan or goldman sachs they are on the firing line and could be basically competed out of existence having said all that it's time to go go go stacey thanks so much repel the town meeting of the banks. about that for christmas dinner all right stay tuned for the second half whole lot more. coming. up. the phenomenon of friendly fire probably extends back to the invention of gunpowder. a bunch of people there but. there really are people. reading. this some shoots my brother in the leg not in touch. because it is because it was night times four in the morning even the best commander was given the mesh shoulder which are going to make mistakes this is this whole idea of brotherhood and author and camaraderie in this sense it was in this context that has absolutely no place. to live but torch is on its epic journey to such. one hundred and twenty three days. through two thousand and nine hundred top two cities of russia. relayed by fourteen thousand people or sixty five thousand killin

j.p. morgan they put these high frequency trading servers right next to the new york stock exchange so as trades are churning on the exchange then j.p. morgan and goldman sachs like this parasite they take using high frequency trading they gleaner they scoop or they steal cash all day long so this is again it's a very instant parasitic relationship now ben bernanke janet yellen will argue that wall street needs parasites america needs parasites and jamie diamond is doing the good work of a good parasite but when the parasite gets bigger than the host as in the case of jamie dimon lloyd blankfein the parasite gets bigger than the global economy then you have a parasitic world driven by parasitic needs ruled by parasites and that's not really helping anybody well the parasites on the host get bigger and bigger and they need to consume or more more to sustain themselves but you know look back at that image again this is the absurdity this is exactly as absurd as the banking system is right now is like this little absurd creature sitting at a fish's tongue like jamie done and you know you can just look at jamie when he's on the news like. you know that's to me as a parasite. you know and as money comes into wall street jamie scoops it up. and it comes into his gills and it makes of all the stupid. parasites one of the ugliest so obviously in that situation with the tongue eating ice of pot if you will put out the fish no longer has a tongue so it needs it but we're going to look at these next few headlines to whether or not we can remove this absurd ugly sort of fish tone that we have in our own banking system iceland reveals one point two five billion dollars in mortgage cuts to aid recovery the icelandic government said on saturday it would right up to twenty four thousand euros off the mortgage of every household making good on an election campaign promise despite international warnings over the plan so we have a situation where they're going to rip that little creature out of the tongue of their banking system people internationally warning them against this are of course the o.e.c.d. the i.m.f. the likes that are speaking on behalf of the you know the lobbyist for that little creature inside the tongue or at the little parasites of the change lobbyist but not so nice and so iceland is doing what people used to do right off bad debts because this is ultimately what the only way you can deal with a situation that grows exponentially larger than the underlying economy can support you have to write that off that was going on for hundreds of years spouses of years only until reasons i'm says the debt then allowed to rule like some. megalithic godzilla just finally eating oh so iceland no way yeah and that's the important point you bring up is that the tongue if you compare it to the tongue in the fish the banking system this was a normal procedures is how we always operated for thousands of years is that debts that couldn't be repaid wouldn't be repaid they would be written off or the bond holders would pay the investor would pay here. all of these of bailouts and crises around the world in last five years is the bondholders are never asked to pay in the creditors are always made whole at the expense of the population so here they're basically writing off about thirteen percent of the average debt for an icelandic citizen right now their household debt to g.d.p. is about one hundred eight percent but they're going to finance the government. by taxes on banks and funds managing assets of banks which went bust during the two thousand and eight financial crisis so they're actually taking it from the people who caused the crisis and that are still there own by foreign creditors right so the icelandic government made the simple question of cause and effect you had a parasitic group of bankers who stole lots of money and then want to hiding in places like london to escape the long arm of the icelandic law and now they're figuring that you know what these are the people that stole the money let's put the money back to the people that got victimized by financial terrorists in iceland and that's how they're dealing with the problem but in the in britain though they still they still basically lionize financial terrorism osborne and cameron prey on their little maps every day to financial jihadi and they prayed to go wherever they prayed to the market fundamentalist god that these financial jihad these continue to destroy the economy or as i slammed apparently the leadership there does in fact have a brain well here in the u.k. they've kept interest rates at zero percent and also most importantly really stoked the housing bubble and this is the result and this little tweet here from i.t.v. news average disposable income of working households drops by six point four percent to twenty five thousand seven hundred pounds according to official statistics is that. now incomes for retired households actually went up by five point one percent of course the retired households tend to own the property so they're receiving the ever diminishing income of the people who are working so this is the very parasitic relationship by the way as well not so healthy but the u.k. suffers from obesity and they're calling that healthy growth but it's not healthy growth it's obesity they're obese with debt and of course that could only end up being a catastrophic collapse now i want to also look at another sort of system of removing the. the absurd creature that is the tongue of our global financial system of capital allocation and payment systems and remittances because that's in the news this week in bloomberg news they report service targets kenya remittances with cut rate fees a kenyan startup will take on remittance providers like western union company by using the bitcoin virtual currency to cut transaction costs for kenyans working abroad who send home one point two billion dollars a year so they're hoping to gain one percent of this traffic that's that's their small ambition in the beginning and that six thousand five hundred transactions the month the cost will be drastically reduced down from say it will cost about seventeen dollars right now to send two hundred dollars back to kenya where they'll reduce it to about six dollars so will distance or mediate put out of business various companies are in the remittance business they charge exorbitant fees compared to the same process the same service being provided by a bit going for a fraction of the cost so around the world people that were you know calling are now pro big point i think famously joe wiesenthal over there the business insider he basically had a miracle he said that he was completely wrong about. digging into it and realize the learning curve is still quite fresh for joe he's come out of the has no knowledge of it i think of my tweet where i suggested he blows brains out. in reference to his stupidity and darts to bitcoin i think finally it was like getting it in the face of the wet trap well it shocked him to he was scared straight the thing is ok we've talked before about you know the snapper used to have a tongue it was a normal tongue that looks like a tongue and perform the function of a tongue then this tongue eating i supplied came in like an absurd creature in there and then the community of get used to that here we also get used to an absurd payment system where. a lot of people like joe isn't all before think that it's absurd that we could ever replace the currency system we have now even though we've only had it for forty years they're like this is their world our fee our currency system has replaced a system we've had for thousands of years of gold and silver backed currencies and based on something but and we've grown so used to this ice upon thing sitting in there and our monetary system that we only insist that way that this is the normal way once we remove the parasite however we're starting to see what could happen and what sort of innovation and new technology is going to merge all of these types are moving over to bitcoin and they're becoming more vocal about going so the trajectory of the market capitalization of it going it will head to that four hundred billion dollars market the winklevoss twins have suggested that means a price many many times the current thousand dollar per but going price well in fact a lot of people do obsess about the price this is the mainstream media only ever talks about it when it soaring then a little bit if it crashes but the thing about the bloomberg article is pointing out it's far far more than that it's way more revolutionary so different from anything we know we are where you saw an ice a pod world a parasitic world where the exchange rate is the only thing that matters whereas here there's a new revolutionary system that is displacing it now you came up over the weekend with a great idea i thought of ice coins and so apply this system the bitcoin to iceland and what they could do to create a new system for themselves but well i suppose all that especially for a geothermal energy and the cost of mining bitcoin us to the hard cost the real cost intrinsic value to do it the cost of the mining and the energy that goes into it iceland could create ice coin and they could be a world leader in the crypto currency market and they would have a huge source of revenue and they could be a world leader and they could be doing marvelous things leveraging on their geothermal energy because as you pointed out in your tweets. they can't really export that geothermal energy that was always a big problem for them for they are an energy giant with the likes of b. or saudi arabia or russia but they can't export it because you can't put it in a pipe and send it out right so convert that into essentially a crypto currency then you're doing free mining and then you can use that as a medium of exchange so big going to have a major competitor which is healthy competition is good if iceland develop their own crypto currency called ice coins so i would look forward to that and that could be again another nail in the coffin for the current status quo of various banking services like j.p. morgan or goldman sachs they are on the firing line could be basically competed out of existence having said all that it's time to go go go stacey thanks so much repel the town meeting of the banks. about that for christmas dinner all right stay tuned for the second half of a whole lot more. this is the place that has been consecrated to god for almost a thousand years people came here twenty some years ago used to push and i was to call on the silent. people fuel the love of christ all working. people so you can do. something happens on this island that makes them return to it again and again they say the below saves them. join me james brown on a journey for the soul. only. quite often countries rich in natural resources are the poorest. it's a colony of the big corporations it's a colony of someone's home leaders who are under the thumbs of the big corporations so they have to beg from the world bank's development of social programs goes to pay back debts. we're drowning under the

j.p. morgan said that its web servers were breached in a cyber attack back in september but that they have since fixed the problem and reported the issue to law enforcement j.p. morgan chase is warning some four hundred sixty five thousand holders of prepaid cash cards issued by the bank that their personal information may have been compromised the cards were issued for corporations to pay employees and for government agencies to issue tax refunds unemployment compensation and other benefits now cyber criminals covet such data because it can be used to open bank accounts of taking credit cards and engage in identity theft. and finally it would be a proper episode of boom bust without a mention of bitcoin here's the latest now big going broom that spread far and wide and this time it's spreading to i phone mobile payment applications true story now one such app called glyphs can be used to transfer digital money on the go and its developers say it's as easy as sending a text message the mini boom and bitcoin software for smartphones is making it easier for consumers to use the virtual currency in place of cash and this is good for quick transactions like paying for f

j.p. morgan said that it web servers were breached in a cyber attack back in september but that they have since fixed the problem and reported the issue to law enforcement j.p. morgan chase is warning some four hundred sixty five thousand holders of prepaid cash cards issued by the bank that their personal information may have been compromised the cards were issued for corporations to pay employees and for government agencies to issue tax refunds unemployment compensation and other benefits now cyber criminals covet such data because it can be used to open bank accounts obtain credit cards and engage in identity theft. and finally it would be a proper episode of boom bust without a mention of bitcoin here's the latest now big coin broom that spread far and wide and this time it's spreading to i phone mobile payment applications true story now one such app called glyphs can be used to transfer digital money on the go and it's developers say it's as easy as sending a text message the mini boom and bitcoin software for smartphones is making it easier for consumers to use the virtual currency in place of cash and this is good for quick transactions like paying for food

j.p. morgan said that its web servers were breached in a cyber attack back in september but that they have since fixed the problem and reported the issue to law enforcement j.p. morgan chase is warning some four hundred sixty five thousand holders of prepaid cash cards issued by the bank that their personal information may have been compromised the cards were issued for corporations to pay employees and for government agencies to issue tax refunds unemployment compensation and other benefits now cyber criminals covet such data because it can be used to open bank accounts of taking credit cards and engage in identity theft. and finally it would be a proper episode of boom bust without a mention of that coin here's the latest now big going broom that spread far and wide and this time it's spreading to i phone mobile payment applications true story now one such app called glyphs can be used to transfer digital money on the go and its developers say it's as easy as sending a text message the mini boom and bitcoin software for smart phones is making it easier for consumers to use the virtual currency in place of cash and this is good for quick transactions like paying fo

j.p. morgan said that its web servers were breached in a cyber attack back in september but that they have since fixed the problem and reported the issue to law enforcement j.p. morgan chase is warning some four hundred sixty five thousand holders of prepaid cash cards issued by the bank as their personal information may have been compromised the cards were issued for corporations to pay employees and for government agencies to issue tax refunds unemployment compensation and other benefits now cyber criminals covet such data because it can be used to open bank accounts of taking credit cards and engage in identity theft. and finally it would be a proper episode of boom bust without a mention of bitcoin here's the latest now big coin boom that spread far and wide and this time it's spreading to i phone mobile payment applications true story now one such app called glyphs can be used to transfer digital money on the go and its developers say it's as easy as sending a text message the mini boom and bitcoin software for smartphones is making it easier for consumers to use the virtual currency in place of cash and this is good for quick transactions like paying for food

j.p. morgan might be getting into the business of bitcoin a true story now the bank has filed an application for a computerized payment system that eerily resembles aspects of bitcoin according to the patent application j.p. morgan's proposed system would allow people to make anonymous electronic payments over the internet without having to reveal their name or count numbers or even having to pay a fee when it comes to viable payment alternatives it looks like virtual currencies are putting up a strong battle against the big banks. well there you have it will be checking these stories and keeping you posted on all of the latest. for many of us social media plays a bigger role in our daily lives work or even family in fact there's a very good chance that you're watching this very program right now via you tube but how does one decide which social media platform to use or who and what determines which new app is the coolest handiest most useful george gates and patrick curley left their lucrative careers on wall street to pioneer a tech startup based on the assumption that the best recommendations come from friends they're putting this to the test with their new tech startup seven and joining me now from miami to di

j.p. morgan manipulating electricity markets and charging consumers in california more money than they should be. they're manipulating the market. we saw credit card fraud, j.p. morganed for that to the tune of $300 million. i think the second answer to the question is, they're still doing criminal things that happened to be highly profitable. ft magazinesbout how to spend it. >> there's a magazine that comes out 30 times a year and the financial times is a hard copy and also has its own website, howtospenditicon. thing. is a real they profile $20,000 watches, gadgets you can buy like a $50,000 diamond encrusted iphone case, all sorts of fancy and expensive cars. this is a real magazine that exist. >> can you talk about the bonuses being considered? rememberimportant to these employees on wall street get a base salary. the base salary they get is usually the range of about $150,000 and goes up from there, especially if you are a higher level employee. 100% of theoften base salary, but all the way up to the millions of dollars for very profitable traders. these are people that are making a salary that is far above what the average american makes already, then, depend