Stunning admission i am a gold bug for money is a passing fad in the history of money so he said gold is definitely a free up money hedge hes buying gold and that money will be a passing fad in the long term history of money well yeah this it always has been a passing fad and theres always a return to gold the thing is that when you have money printers in charge the act of printing all that paper money to anger and dies themselves really fills their head with dreams of its fear supremacy thats the ultimate form of supremacy is i print therefore i am and if you can pull the levers of political power with your fear of money if you can acquire assets with your fear of money that gives you that god complex that we have so much of a around the world and countries and big corporations and now its all going to come crashing down silver prices on one day in the past week it went up 13 percent so silver is back its pass through its long term resistance for the past 6 years 20 dollars and about 0. 50 has been a resistance it could not punch above that but it punched through that heading past 23. 00 it was like soaring and therefore the bull market is finally back on the confirming the gold bull market as well which never really you know it hung out at the 1200. 00 level up and down 100. 00 from there for a few years as well but the gold bull market started about a year ago and now silver is confirming that so here you know you have this guy whos at the top credit strategist and so looking at the bond markets looking at on top of the bond markets bigger than the bond markets as the Derivatives Market and of course Deutsche Bank had i dont know how much of it has blown up with they certainly had the largest derivatives book in the world now passed by j. P. Morgan so i. Just want to show you this interesting chart its a visual capitalists chart all of the worlds money and markets and 1. 00 visualisation each square is worth 100000000000. 00 the bottom of the square is silver tiny tiny markets 44000000000. 00 crypto currency is about well at the time of this printing about 245000000000. 00 so its like 5 times as large as the silver market so when you see the volatility and of course tinier markets are easier to move wild swings so youre going to see some bitcoin like moves you saw the up 13 percent youre going to see some down 20 percent days just to put it into comparison the next the 3rd step in this global money size and markets is military spending globally so again silver is just a tiny part of that then you have feds Balance Sheet billionaires in the world and gold so gold is a huge market compared to celebrants figure its the next step up is the s. And p. 500. 00 so you know its up there with a huge you know mark in terms of trying to push it around its harder right well so over well meet the robin hood traders right so gold as it punches through 2000 and heads to 3000 the robin hood traders and now there are millions of them and not only robert a but other apps that allow you to trade without any commissions at all banks alighted trade pretty much without any commissions are there now day traders at home because of the covert 1000 theyre at home in the sports hasnt been interesting and youve got dave portnoy who was a sports guy and now hes a day trader guy so theyre all going to come and look back to so over its got that unit price cheap unit price compared to gold right its like 202324 dollars 25 dollars versus the. Near 2000. 00 for gold so mentally these day traders and robin hood traders will say all this is a lot cheaper so theyll pile into it as they did in 2012011 when you know we saw it go to 50. 00 an ounce based on the crash j. P. Morgan by so over a campaign now if you want to basically crash all banks tours around the world by so over and get it up to 100. 00 yeah i mean at the time that we did that it must be noted that j. P. Morgan and inherited bear stearns huge naked short position on silver so they were totally vulnerable to. The price the physical price of silver rising they are now one of the largest holders of physical silver in the world so you cannot crash j. P. Morgan by driving the price of silver up in fact they will benefit because they do own a huge position in silver they know never to do that again but in terms of this you know comparing it to bitcoin and the movements in bitcoin of course peter schiff who hates to coin and hes a big gold bug and also a silver bug Precious Metals bug i do want to point out that on the day that silver rose by 13 percent he brought in that comparison to bitcoin but not in a positive way but what im saying is they are very similar and and how small they are relative to other markets and so one flows of capital go in there they do jump and drop wildly silver is up more than 13 percent so far today while big coin is barely up 2 percent silver is the new bitcoin except with direct utility so a big find bugs are dreaming about bitcoin going to the moon theyre missing their real life moon shot in silver right well you know peter schiff is right to put big coin sober and gold in the same category theyre all store of value. A big point is closer to gold and that 90 percent of all gold is used as a store of value it hardly any of its used as for utility value at all if thats what peter schiff is referring to in terms of so for its use as you till it he valued children value actually is a drawback for so were just Like Companies who make money and make earnings are not richly valued by the stock market the stock market likes to put wild valuations on companies with no warning no profits and weve seen that many many times so what you have an actual number there so some are having some quote utilities actually a drawdown but in terms of the performance Going Forward i would go with of course Paul Tudor Jones who is you know lets face it i mean peter schiff is an ok guy and he has done has been somewhat successful but Paul Tudor Jones is is 100. 00 times bigger magnitude scale of success and he has said hes buying bitcoin over gold because its the fastest horse in the race where every dollar that gold will go up were going to see 25. 00 to 30. 00 in bitcoin appreciate and silver yes sobers always going to be along for the ride but still the fastest horse in the race and peter schiff will have to get schooled on this again and again like hes been for the last 10 years but next 1020 years hell be wrong of course its bitcoin i want to point out you know Paul Tudor Jones also has a huge gold holds or he does own a lot of gold and for the same reason that this credit strategist at Deutsche Bank says Paul Tudor Jones has articulated and i think actually in the last week as well 7 that the fight for your system is toast because it has to be it is inevitably going to crash because of all the money printing and because of all the money printing that begets more money printing because now the population who has been sitting home receiving 75 percent of the population receives more income now than they did before the crisis so they know. That this is possible that you could just print money and give them money so theyre going to demand it theyre going to vote for that theyre going to demand their politicians and their of elected officials give them free money thats just like banks have been doing for the last since Alan Greenspan provided the greenspan put theyve been demanding ever since he did that in 1987 then weve always had worse and worse and worse and its grown and grown and grown and thats part of why the derivatives bubble has gone but now that the people know this is the moment where it has to end because its inevitable. Yes it is its inevitable its like a cycle of the planets or the seasons or the tide or the presence of gravity this is all with without without doubt and forever more recurring for mom and mom were paper money collapses and we go back to some kind of gold slash bitcoin standard so i want to show you the 10 year silver chart because of course report has covered silver for 10 years and you know here we were covering it back here and then it went up to 50. 00 and a lot of that had to do the crash of the market by Silver Campaign they were accumulating silver all the way down and then even more during this 6 year base there that is remarkable because i couldnt find a 20 year chart but if you see the 20 year chart its down here so this is still thats that that was the 2nd leg here is going to be the 3rd leg and the 3rd leg in a decades long bull market is pretty wild so we could see we could see you know in this time it might be different but it we could see pretty huge price gains over the next few years and silver right i agree with you that its no longer the case we can crash j. P. Morgan by so far because out there are huge so over holders we understand that but this is a chance to crash the fia money system because when you pull money out of fear and put it into bitcoin gold and silver you are de capitalizing if you have money system even more it was Just Announced that the banks for example in the u. S. Are starting to cost to be big coin right theyre doing that because theyre panicking their fear reserves are becoming increasingly worthless and they need something of real value on the Balance Sheet or the definitely after the clarence often see this time and the silver price went up 13 percent in that day and that who knows what was the actual cause of it some say was eric sprott up in canada hes a multibillionaire and whos putting 1500000000 into physical silver for his Investment Fund also a concert. At the chinese consulate in houston that day was filmed i guess burning a whole bunch of documents after trump had ordered them out of houston so that is part of that deal globalization and the dollar ization whatever the burning of the documents are you know we saw the same thing in cairo when the revolution happened there and they earned down the building in which the police tortured people for the cia and then you know the cia entered the scene and burned all these documents so thats what happens but its a obvious symbol of an end of this era its over de globalization dollar ization and so you know that is the trigger for this move and whether or not it can ever go back down because were at the end of the system the system and this dollar is ation and globalization and the trying to fit cation yeah i thought i was just in sun burning some trump. You know they like to do that every now and then to cover up the. Their 7 alter coin in case for those of you out there who dont know that we had lots of the Warren Buffett you know yes right to own a lot of silver Warren Buffett sold to afford all of. That guys rock about some bank booboos anyway were going to take a break and when we come back much more coming your way dont go away. Join me every thursday on the alex im im sure ill be speaking to us of the world of politics or business im sure business oh so youve. Got to be in by north. Because a cop beat him hes so good that even such a bad cop be sending. Im not into to other people being. Killed. Find the next guy. Looked up never get anything done be in philosophy and let god she even dump the attempt. To deflect some or the c. E. O. Thing to the deflection board or for you to say. That is a god given that i got up for many answers. That he and others are going to going to write about. That he can bank on that nothing like a. Long long while and then he goes along the bottom theres a playlist which i would think a lot older. Than the one new person and later today 100 gandhi the new normal gandhi run the place. To go to you then go to mock you then they will join you. Welcome back to the kaiser report im max keiser time now to go to j. P. Barrick Capital Ventures j. P. Welcome thanks for having me on again guys sense of youre all right call now sir you have a background and Bitcoin Mining is mining still an option for the Retail Investor whether with a home Mining Operation or a cloud mining contract a pay for the retail vest investor mining is definitely still an option i wouldnt touch my contracts all right ok ive done sounds exciting lets move on to china china is currently estimated to have 50 percent of the big coin mining power while the u. S. Has about 14 percent do you expect the u. S. Share to grow and if so how why where within the various states so yes we do expect the u. S. Market share to grow were expected to grow in texas and in upstate new york were seeing that. The Energy Market in texas is providing a huge opportunity for our miners simply the recent federal government has put out a lot of incentives to build solar informs and so thats incentivizing its huge amounts of capacity about 20 gigawatts of Renewal Energy to come online in texas which helps miners because it lowers the power price in that area were seeing power prices in the low 0. 02 and even sometimes one cent for negative pricing during times when theres too much power on the grid so miners are definitely poised to grow and expand very rapidly in texas and in upstate new york you know j. P. And this current environment where the fracking industry is coming under a lot of criticism rightly so because its never really been profitable from day one its ecologically devastating and its going out of business the. Having story going on in texas for bitcoin would seem like it would deserve mainstream Financial Media headlines because it is an American EnergySuccess Story your thoughts i definitely agree with you i think that our miners are going to play a tremendous cool over the next and its 20 years in great optimisation in providing more good stability providing 100 percent to pasadena providing more capacity on the grid but big farm owners have the ability to turn off for that one percent of the time where we all need energy so when this peaker plants it was natural gas and set it running during the hot days that only run from each and 20 hours a year those plants are no longer to be needed so i see it for money in 6 huge Success Story for the Energy Industry in florida the industry as a whole the problem is as you guys know big money has had this bad picture of oh were using too much energy its bad for the environment and the media doesnt really like to talk about it and the banks dont like to finance it so theres really not much of an incentive to bring the interest industry the forefront what we expect over the next 10 years that that story will d change and were excited to be on the forefront of changing that story so following up on that point other countries same to be waking up to the fact that switching over from gas and oil to bit coy mining seems like a shrewd move in terms of developing a hard assets to possibly put into their reserves and d. S. A. Other countries really picking up the ball and running with it in a more strategic way if so can you name a couple of countries they think theyre really waking up to the possibilities hair and is the United States possibly putting itself behind the strategic 8 ball by not waking up to this opportunity j. P. Suhr so on the on the question of what countries who see it coming into the stace and if its going to leave the United States behind were seeing that iran has recently published some new paper money make elations and are providing very very cheap our countries. Like ukraine are starting to look at this and are looking at mining had Nuclear Plants and larger so at least countries such as brazil are looking at. Working with their state owned companies to mine cryptocurrency used there are tons of Energy Generation assets out there and because of coded the Energy Usage Patterns of consumers and businesses has changed across the world which is requiring a lot of these Energy Companies to rethink their strategy in the United States were still havent got there to the point where we have a support for me to the banks or the big Energy Companies the people are so i did dabble in what crypto currency mining could mean for the Bigger Picture expression as it begins to stale and more capital is invested in the space right play just film and capital venturas what are you all doing over our own capital banters briefly. Sure so our Capital Ventures are working on building out large mining facilities in conjunction with some of these. Privately owned Energy Companies and some of these Larger Energy facilities so with big time mining it really fundamentally challenges the want to some sunni how about electricity and that is that needs to be transported to the end consumer with big mining were actually able to bring the consumption directly to the production and this fundamentally changes how we look at energy as a whole so were working with natural gas plants some of these larger Nuclear Plants and some solar farms wind farms to consume the energy when its not needed by the grid directly on site so thats how warm Capital Ventures is scaling up were also looking at projects between 50 to the 250 megawatt range and so weve moved from previously working on smaller one to 2 make what projects me talk 4 years ago just dealing with the industry and really building out large deployments large consumption projects on some of these stranded Energy Generation assets so you mentioned direct production directly to consumers to consumption and south that is a new model right yes it changes how we how we view at it she simply you know before you had to build transmission lines to define a consumer you dont know if that consumers they buy 247 or joint a day or night with big climbers we run 247 were able to turn off immediately and not affect our profits because we get paid on a per 2nd basis so we only lose you know that hour 2 hours of downtime were not showing any processes that are like running a server farms or running websites where we are a consumer application and so become one of the only applications that can consume a large amount of power in sicily but then actually we leave that power and send it back to the grid and let the power plant sell the power back to the grid when its worth more during those hot summer months old winter days you know our friend marcel long has become a miner in texas made the comment re so late that he considers himself to be in the Energy Arbitrage business do you think thats what its all about can you comment on that. Yes that is what its all about a marshall is an orgy in the space spending there for very long he understands that energy for mining isnt to privet if of energy allows you to buy a jewel of energy or actual lot of energy locally and actually sell it to a global marketplace and as banks and as finances twosomes and as Energy Companies understand this reacts spec the industry continued growing rapidly grow this ability to sell energy to the network at any time of the day and always know how much were going to get for it is really revolutionary and its one of the reasons why big point it or mining has grown rapidly in the expected keep on growing over the years right here is kind of a broader picture question here so the t. C. P. Ip protocol that is the protocol for the internet bitcoin many argue is a protocol and the dominant protocol for money and it was the 1st time in history that the Software Revolution that transformed all industries starting in the seventies and eighties hit money and so the Network Effect metcalfs law a proliferation of contacts have a day all the things that have transformed industry around the world using software and Networks Finally hit the industry of money it self so the question is that you know entire industries were wiped out by the t. C. P. Ip namely the Music Industry had to be completely transformed and reinvent it so you do you take the same thing to happen with the big point protocol to totally transform the Global Economy as we know it may be central banking as we know it in banking as we know it in which industries do you see being wiped out other than the bank of International Settlements and various other Central Banks j p. As you know ive been a big advocate for big car and for the past 8 years now so i do believe that it has the potential to be centralize how we still trust or how we transact value over the internet some big things that i see blocks change and big or more specifically disrupting are as the 1st you know most prominent one would be the Energy Industry its a very regulated industry and its becoming more unregulated and theres processes in procedures being dont allow us to sell power back to the grid and work with the new host thats the 1st industry that i see really kind of going to have to adapt and work on this new model be able to consume and consume power right where its generated one of the other industries i see is on when it comes to time influencers whenever we spend time and watching it influence service aims their music video watching their tech talk so that you tube videos i see a huge opportunity for tokens to enable these influencers to work directly with their fans and actually capture a lot of that value thats created that brand loyalty and brand value at the token level currently most of that values capture the platform level where the media is being distributed so on you tube on say talk on spotify and hopefully will see over the next 10 years wasso tokens or lots of watch games to come in and help replace that value transmission level not that randall a level of community is coming together and really. Pushing for an idea with the proper token economics of the proper structure for a token you can incentivize a community to promote that artist so that influencer so those are 2 big us areas where ive been spending on time and where im actively working on improving the overall experience for consumers and for all the partners who are right kind of follow up on the site have token talk to make a comment so you have they have to climb protocol it clearly as i laugh. Asked jack that had roughly 85 percent of all the hash right a wall the block changed all the crypto projects and that number would seem to going to increase as you have more institutional players in to pick wine as a quote mining becomes more institutionalized and so when i think about some of these other projects and the past like the hard forks because i said tell us evasion or because in cash for example it seems that the question is not really if they have any utility but the question is more will they attract enough hash rain to survive. Because big quien has is the protocol of money it has established itself like to see pay i. P. S. Stablish itself so the problem with these other projects based on the cell is that theyre useless but that theyre just not going to attract enough energy to keep going your thoughts. I agree with you completely that the hatchery is a key indicator on how much capital or how much energy is putting is getting is being put into the watch a security we see that watching is the most important thing is to make sure its here and as you mentioned some of the other other ports of bitcoin dont have anywhere near that security most people when they come to the industry to learn about big point the regional big point e. T. C. And then they can learn about the other changes but its important that when theyre making that decision that theyre theyre basically joining ecosystem and when they join the ecosystem has a lot of things to consider security being one of them but also the onboarding ramps so being able to work with companies that have spent years building this case is super important obviously those other tokens will always be around but people have to question do i really want to secure my Financial Freedom or my financial well being into this law change that isnt a number one and as you know in most industries the top corner the top competitor grabs 80 to 90 percent of market share i think you see that with a point at a gray thanks for bang on the kaiser part. Thanks again guys for having me its pleasure heidi well thats going to do it for this edition of the kaiser report with me max kaiser in states you ever want to thank our guest j. P. Barack going to catch us on twitter its kaiser report until next time. We go to work so you stay home. Legal the government by a small group. Rather than revolutionaries or soldiers small group. When you have a tiny people who have all the power you have to have some means to. Get together and. Police are sacrificing. Places that capitalism exploited and destroyed for profit and left behind misery poverty environmental devastation and so you see things like Voter Suppression building more prisons you seem gerrymander. Undemocratic practices. In the world. This world. Of the. Foreword to talking to. People. Must obey the orders given by human beings except when conflict with the 1st. Person intelligence point is. There. To. Protect its own existence is. Tuesday the 28th of july in todays headlines not secret anymore a key source in the discredited russian collusion. 2016 is unmasked and it emerges that hes evidence boils down to bar room conversation. President trump bolsters federal forces in the city of portland after weeks of protests as criticism mounts from local leaders who accuse him of abusing his powers. The story of the mother of a 12 year old boy dragged from his house in the middle of the night because he had a toy gun now shes accusing londons police of racial profiling. Thats why. I was. That way then why