Monday morning that they were going to go bankrupt well you know in america when you go bankrupt in chapter 11 we declare chapter 11 what happens is your creditors line up to see who gets the debt whoever is this has the most senior debt the bond holders the bank loans anything like that they cant your money 1st your assets they liquidate everything and then if theres anything left over a which creditors make sure theres not and the lawyers get paid and everything that then maybe equity holders shareholders might get paid so they never get paid right but when the news broke that they were going to go bankrupt chesapeake. People on robinhood especially these free apps available and its mostly for millennia old and generations a very young traders new traitorous and they all just got new money free money stimulus checks 1200. 00 each from the government they poured into it stop prices up at 300 percent at one point it close at 170 something percent 180 percent but heres what you know the smart money the bond traders versus the dumb traders pouring in on these a trading outs theres a 2200000000. 00 chesapeake bond thats due on january 1st 2025 it currently sells for 0. 05 on the dollar the stock is up 171 percent to a market cap of 650000000. 00 bondholders are going to get any money before the shareholders do but theyre only thinking theyre going to get 0. 05 on the dollar back right but those bonds dont trade on robin hood. Right so thats a big difference any mention looting and i think this is a form of looting if Chesapeake Bay declares bankruptcy and thats Chesapeake Bay Chesapeake Energy if Chesapeake Energy wont want its all good isnt it or hertz for example they also declared bankruptcy the stock ran up hundreds of Percentage Points its a form of looting thats going on and we see this looting on main street during black lives matter theres been looting and people are saying oh my gosh the looting well theres looting on wall street right now theres looting on robin hood the robber to either a plowing into a dead loser dead certainty of losing 100 percent of the money or like the gold traders weve reported on for many years now they are a fact of li a gang thats manipulating the price and thats unequivocal theyve been proven time and time again that the gold market is a manipulated market and weve had plenty of track record and even regulators admit that it is a manipulated market maybe the robin hood people are saying lets do our own looting lets do our own manipulation we could quickly turn a lot of these gains into big which i can also buy robin in a strange way Warren Buffett. Poison and kind of got the anger up of the millennial after he blew out of his Airline Stocks and huge losses the robber to me as a buying it up and profiting and converting it into becoming so Warren Buffett has been funding their retirement their big coin retirement of robin hood millennial and gen z. Users with his his his misinformed. Airlines well ok on the one hand the problems that apple has have maybe been 100 percent or 200 percent for the day or 2 whether or not all of those streets evaporated instantly as obviously chesapeake collapsed the more in the overnight trading when robin hood apper is arent trading its only sophisticated guys able to access the the over the counter market in the off you know after market hours i think they maybe one day at least for a bow you know half an hour they can go now and then Warren Buffett but in terms of manipulation you know were in an additional world an algorithm driven world and algorithms dont have any mind of their own or do they or can they even be tried in court because the fact is you know back in 1902 when t. W. A. Went declared bankruptcy we also saw the similar thing 1902 their stock price quadrupled in one week and the New York Times wrote about this saying whats going on and they talked to lawyers who are specialized in bankruptcy and they they were confused because they said these people wont get any money like that goes to 0 once the Court Case Call this is on the bankruptcy so what was going on was the bucket shops the boiler rooms that are famous now from the wolf of wall street sort of films so you actually had to have somebody engage in a telephone call call somebody up and sell them on the idea that theyre going to make these quick gains because carl icahn was involved in that t. W. A. Story as well they sold them on the notion that carl icahn was going to rescue the company so cuts and today what you have are red. Formore its like wall street bets and they start saying they do this all the time member we covered this in january they were doing at an all time highs and they were driving stocks this company when hertz goes down to 200000000. 00 value and its on the Stock Exchange its easy to drive it up 1020 percent which then puts the algorithm on one of these trading apps like robin hood you know that gets triggered and they see the top trending stocks of the day across all s. And p. 500 shares and they go oh thats 20 percent oh now its up 30 percent i better dive in and they dont care what it is they just dive in they dont know that its about to go bankrupt they just see it moving and what does Robin Hood Robin hood sells their Customer Data the customers get the service free but what how they pay for it is their data gets sold to High Frequency traders which is Algorithmic Trading and theyre front running these out robin hood the dumb money right front High Frequency traders front running down money but the ironic thing about this situation is that we could see these High Frequency traders theyre algorithm so no human of all bought the is bankrupt shares were no you know banker actually working at citadel or any of these High Frequency traders would ever dare buy a bankrupt company because they dont want to get caught is there oh but they could be left holding these bankrupt bags exactly and theyll get another bailout so its sort of though which is ken griffey and ben bernanke the former fed chairman if they get caught holding the bag at this trade and the millennia old scalpel with the they get scalped by the robin hood traders theyll just go to the fed get another bailout and thatll inject more capital into the whole fraud and start the cycle all over again so now theres an established wall street. Trade you know whats called picking up dimes in front of steamrollers so you say you made something a point there that when the stock is down the way it is its easy to move it without any volume at all so. Lot of times traders will plow into a low volume situation to try to pick up a dime before a steamroller then just try to get a little gain before the steamroller of bankruptcy might catch their foot and then kill you know wipe them out but when you apply 1000000 all these robinhood traders there that have brought been brought up on means and they dont really have any consciousness of what physical reality is they have no understanding of what a physical economy is they only know what a mean is a 1000000 of things from gaming then to buy chesapeake or hertz better declared bankruptcy to try to you know eke out a game we saw in 2017 with the trading of all those where it all going to opens theyre all of them fundamentally represent nothing but there was a huge market that the river but developed around them and people like going to a still trade these phantom coins well again i think regulators perhaps have done something about these stocks that are bankrupt trading up 30400 percent that wasnt no ordinary write wasnt normal but it is a reflection of the overall economy ok whether or not these High Frequency traders which i think will be the funniest thing on earth if they get a hold get caught being the dumb money the ultimate dumb money because of their smart algorithm thought these think that thats an asymmetric bet because they will always get bailed out they will never lose yeah ok but nevertheless itll be funny for at least the week when we get to say ha ha them bernanke is holding that john he bought a bankrupt thing and that will be funny and then hell get bailed out but this is what the fed does they keep on pouring liquidity and so it makes sense for these ordinary robbing of people to do this because here we see someone say markets cant possibly go higher but weve never seen Central Banks response so much and so fast the real problem will come when investors start to ask when these bankers and their finest minister counterparts will slow down and pull back of course they wont as we said because citadel is about to be caught holding the bags of hertz and American Airlines and all these other chesapeake and stuff like that but here is the liquidity mtu money supply and its bigger than it was bigger. After move up than it was in 2000 during the dot com crash bigger and faster moving up than 2008 during 2900 will be financial crisis when Goldman Sachs got caught holding their own fraudulent c. D. O. And Mortgage Backed securities so you know we could be in another situation like that but were in a new place in 2020 then we want 2008 or any time before that is that the biggest market cap wise companies in america and around the world of Software Companies and they took the place of exxon for example used to be the biggest cap stock and now its a software so the fed display adding a server to their ponzi scheme of fed money printing can print up another 200. 00 trillion it doesnt cost them anything and theyre just puffing up other Software Companies so now that said were in they have Virtual Reality world and the millennial of the genesee figured it out and i hope they all become billionaires and butter and typically were going to take a break and when we come back much more coming your way. So what weve got to do is identify the threats that we have its crazy. Let it be an arms race is clearly dramatic to follow only. I dont see how that strategy will be successful very critical time to sit down and talk. The world is driven by shaped. Thinks. We. Dared to ask. In the troubled 19 seventies a group of killers rampage 3 parts of Northern Ireland that was coordinated loyalist attacks particularly catholic population in belfast tens of thousands were forced to flee their homes and what was striking to put these attacks was that the are you see the Police Actually took part in the attacks so instead of preventing them they were active participants in the burning of coal streets in belfast at the take more than a 100 innocent civilians with blood that has to live you can see in years and we found out more i was surprised about the extent and its occurrence which the collusion was involved in some of those cases the killers would later be named into than a beginning i think it went to the very very top i think it the focus for all there was here where all the taste since you thought was going on and give the go ahead. They can come and blow our brains out at any given time and we cant really do anything actually america is the only country in the world where you can kill people out of war and legally get away with. All the fire crawls still beriah all the trouble here is very frail the point is its hollow playing the k. K. K. Exists because america wants it to exist they are the biggest terrorist group to ever operate in this country and theyre dead to me theyre worse off than the people who destroyed the World Trade Centers or the scroll. Welcome back to the kaiser report imax keyser time not to go to o. B. Dos do he is the c e o of claim floor in the u. K. O. B. Walk im. Great thanks for coming on coyne floors been around for a long time actually was around in the u. K. When they started the company i know the founders and that south had a great track record and bet by bitcoin standards its almost valid very beginning give us the back story yes 25th seed it was launched the original founders of myself. And thats what it begun but time it was only about big trucks and it remained that way for 2 years into the state full day when. Mike and. Gov driessen decided to be queens or a benevolent dictator and that was the beginning of the big clean and big Contest Rules and then we had to fear e m. We know im seeing the responsible quick now that its really a fascinating that you guys very quickly sussed out during this i call block size wars and eventually the adoption of segue that this was not consistent with the original vision of a big coin and kudos to you guys for keeping her to sticking to your guns i know when people ask us where to go to find because when we direct them to point to a coin far if theyre in the u. K. And you know this whole period from 2014 to 2017 was really an experimental period that is common gone and i think we can kind of bury that in the past now because none of those old coins are ever going to work now really a few weeks past the having what impact have you seen if any business a massive increase in interest already. Weve been saying that but it was at the same time that we launched our retail offering so its hard to tell if the launch is the uplift has come from mary telephoning which is a retail i need to quit offering to buy regularly or if its come from the hard right and getting back to kind of like the transition or theyre all experimentation or the whole look at they all call an era what lessons do you think the n. S. A. Can take from that period there are multiple lessons weve tried each time we see this be free phases in the crypto journey and each time you try to just focus on being objective and looking at the facts and ignoring ignoring the crowds and not just follow it so 1st time is a bit quick cash less is because and the lesson there was that it wasnt miners who were in charge it was people who were in charge minus were just one of many. Uses everybodys important the 2nd one was a ferry and it wasnt about short term money and confusing the customer it was about offering the customer Something Else actually about you when you saw one of these accounts and this time around we think the simple lesson is this we are still in a stage where the objectives and b. Incentives of a large segment of the community especially an Exchange Space are not aligned with their customers they want to offer them as many options as possible so people trade as much as possible and potentially lose more we want to and we believe that the Industry Needs people offering them the currency that works and has been proven which is quite and the mechanism of investment which we see is investing regularly and anything else at this moment objects a b. Doesnt make sense it does but the trends we are seeing from the feedback from users every station not just our own customers not just the general public but even people who work for exchanges contacting us from back channels to tell us frank goodness someone had the courage to make a decision. And i hope a good bit of our exchange can follow suit can you comment on the recent revell that coin base out there in San Francisco run by Brian Armstrong has recently opened up their kimono to authorities the various intelligence agencies and the f. B. I. Your comment its very interesting i mean theyre regulated exchange and. If you approach a regular troops for that see to us the information you have to provide has. Been deciding to go out some threats of be well for this probably not dont be this in line with the loss of your crew business and we would do but of course as a rigorous exchange me would do whats required to be done by rigorous and search so you are of course in the u. K. And the u. K. Is highly i would say regulated of course but its also highly protected industry the city of london as noun florets fortress like mentality and its kind of cozy relationship with the regulators that some would say are captured that would be an opinion of some but my question though is the environment over in the u. K. Having bennett volved in crypto business as myself in london as hostile i thats the way i would describe it how are you guys finding it over there is the environment changing is the industry changing as theyre being are they being more accommodating are banks starting to open up because for a while there is a moratorium from u. K. Banks absolutely now because now to at at all are things changing in a wood yes if you just look at whos answering them ok were trying to answer them ok basically every Major Exchange player is offering in the u. K. Much are. We outside from looking out on numbers look even numbers of. Exchanges from most exchanges you mentioned its the ukase the probably the 2nd biggest western market after the us Embassy China and asia im in bubble so its a significant market and regulators understand naso the beginning of this year because when. S. Its companies to say lets refer to. Move in the regulatory remit of the f. C. A. At least for the purposes of. A male and female entering and countering terrorist financing and that gives it again youll see an influx of people coming into the market from the more established spaces because a so thank you has also become much easier as a result we have british on banking relationships. And in hot faults but i imagine its going to become easier and easier to get banks in the u. K. Over the next 12 months notice now were in a regular troops of course the u. K. Banking system and the u. K. Central Banking System is famous in the big Quake Community because it was the headline from i think was the telegraph or the times of london excuse me thats built in or written into the genesis by combat coin that chance was on the verge of 2nd bailout for banks and im thinking about this today because i noticed that the word from the Central Bank Bank of england now this week is that they are going to pursue q. E. To infinity and phonetic money printing now in the United Kingdom to balance out the corrupt Banking Sector those are my words i would think that would be a chair Mendis Philip to the interest them pick coing of being money goes through different generations and whenever a bets a form of money and the corporates you have money in of you and anybody using the because space is viewed as a story comes around inevitably it out somebody has the potential and then she does replace. The preexisting best screw with money because 11 years ago now the best form of money was invented is still an 11 year old sister the kids in a couple of years would be a teenager but ultimately d says destiny and so having that incredible story value having the potential to be a credible sue about beauty in this environment that were in with all of the for want of a better would crazy the story go on. A very privileged place to be and we just want to help as many people get access to this sort of monetary. Code gravitational well which will bring everything to him as possible and get them to avoid the sort of force the fools trough is subjective right while you mention common enough anomic theory or economic philosophy in there that good money pushes out bad money and that is a way of thinking which kind of goes against the current thinking the current thinking is that bad my impression is that good money and that this is a good thing because you want or that its a phenomenon that we should that you should be aware of because and it came to you while the ghana u. K. Economist or an english economist you want a debt based world of fake money and you dont want people saving you dont want to start value you dont want individual sovereignty the paradox of thrift socalled that of everyone save money there when many around to build an economy right so you just said that thats good money is going to push aside the fia money english pound worthless paper garbage what hows that going to work. Its really interesting we have a mess across sections of customers and. One from we like to do jews who have conversations with some of our customers and just educate them about. This how can. Pick. And in general and one thing weve noticed is that theres actually a growing number of people from a certain say lets see who gets a woman but a phrase from the baby boomer generation. And they have a completely different view than say the millennial they they would they grew up in an environment where understand they understood the importance of saving. The saving and building towards something and basically buying things with money you had no money that didnt happen in bates when you were. Credibly aligned with this message. And also we learn from them and it just reinforces our understanding that this view of money is the correct your money and we need to educate a new generation of people west of the correct through money and maybe a raise of the sort of few decades of. Sort of. Price a are talking about a generation divide and we said you know its happening and they also an agenda say understand that their future depends on calling speaking to 5 lets talk about racial divides and weve seen your comments on big cohen as a way to exit the current race a system in relation to the ongoing on rast in america aside black lives matter protest in london recently around the joy George Floyd Murder can you elaborate on your thoughts there. Yes so. Its really interesting i mean obviously you might not notice but i have a sort of person no link to this situation and its something ive observed throughout my career whether its most of it is subconscious or unknown but some we know we all know the reports of the the studies where you take a 3 year 0 to a 4 year old child and in a classroom show them to see paintings of a black and most of them with us who the bad guy is most of them says the but even the black people would say its a black guy so its something at the very early stages ingrained into us so this is a big problem to so and the challenges of the system that we have right now has destruction so big quinn has a potential to provide an alternative to get playing a game of monopoly and some is going to all of the hotels and you start a new game and they start with all the hotels its not very fun to play but me now have been up a shooty to exit that game and try a new game from beginning i mean couldnt you currency that has no basis in any other pistorius system its not like any other store of value that we have available to us like real estate or stocks and shares and so on it plays by its own rules and the loss of the game is a Computer Program it has no emotions but its completely objective impulsion unfair and thats all you can ask for is the completely merits of environment and thats the game that if youre playing with the passion and energy that im sure every person brings about and definitely people from the black community can then i would do very well have a time. As awesome as oh thanks so much of calling florence thanks for being on the kaiser report. Thank you very much guys. Well thats going to do it for this edition of the kaiser report was made max kaiser and Stacy Herbert want to guests thank our guest o. B. Was do a coin flora if youd like to get in touch with us on twitter its kaiser report and so much thought by all. Is youll be a reflection of reality. In a world transformed. What will make you feel safe. Isolation community. Are you going the right way or are you being led. By. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Or a maybe in the shallows. Drug where her cocaine sons were 4 bucks with the under 50. Everybody use cocaine. Cocaine you can smoke it this is worth 1530. 20. 2 this is about a 15. 00 bet and people smoke this one figures a sweetie you can find these drugs in any city in the United States that you walk along as you want to get it about to. Make money. Yeah thats one of the. Play has changed american lives but pharmaceutical companies have a miraculous solution. Based drugs the people who are chronic pain patients believe that their opioid prescription is working for them and the remedy be said to. Price that they pay closer dependency and addiction to opiates to long term use that really isnt scientifically justified and ill study actually suggested that the long term effects may not just be the absence of benefit but actually that they might be causing long term. The. President trying to threaten to sue to deploy the army to seattle if the authorities there dont crack down on protesters occupying a part of the city but the mayor has shot back saying the use of military force would be illegal. Have the outcry over the killing of george floyd continues thousands of antiracism protesters flood the streets of paris to denounce police brutality. Are right demonstrators gather in Central London to defend the citys monuments and clashing with police and antiracism activists
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