A big cornwells fought on the answers with some stacy in the root cause a report up next that neil harvey is on his way to be sure to bring the morning news updates next hour join us again that. Time max keiser this is the report i salim accessed a standard Telegram Group where there are 24 hours a day just talking to people. And me forwards arent spell. And do it this way weve got about 8000 in there now going to be blindly as party on planet earth so stacey remind me again whats happening in the world rides well the big news in the past week is at the end of last week a video was released of a conversation between the former bank of england had mark carney now interviewing people for the council on Foreign Relations so a very powerful organization in america and larry fink who is the c. E. O. Of blackrock the largest Asset Management firm in the world they have 7 trillion dollars under management so you know larry fink is like an untouchable right like hes probably more powerful than the president and he said to mark carney this clip we look at it is something is real but it still untested it still is still has many. We have to go to many markets to see if its really probably real or if its going to be a variant of that sometime in the future lastly if it were any other time i would just say. How do you additional currency has real impact on the u. S. Dollar because having a Digital Currency makes the need for the u. S. Dollar to be a lesser role of that. The u. S. The and so on im not certain im not talking about 4 americans im talking about for International Holders of dollar based assets the question i would raise and you know maybe theres a market i could talk about it doesnt change the need for dollar reserves as a reserve currency if there was a true Digital Currency that was there was separated from from dollar b. s assets and other things like that so many questions need to be answered before i could say is it real and alive so basically maxis asking does bitcoin change the need for the u. S. Dollar as a reserve currency they came out of the mouth of an untouchable thats the important question u. S. Dollar as the World Reserve currency are we on the threshold of an era where it is no longer the World Reserve currency after basically a 100. 00 iran thats the question now the talk about Digital Currency said about bitcoin these guys are still very very early on the learning curve theyre right they dont have theyre not and they dont really talk about in the ways that tell us that theyve done much Due Diligence like a Michael Saylor has for example who really understands bitcoin larry fink is just poking poking at the edges there like what is the thing m. R. Carney of course is you know an establishment hack who is would be rightfully fearful of bitcoin because it is written or limits the need for Central Banks and hes a central banker through and through but remember he was the very 1st when he was the bank of england head of bank of england still in the last month or 2 of that he spoke at jackson hole in the united states. And he said that basically the u. S. Dollar was past its purpose it no longer served a purpose as a reserve currency and his idea was for a Digital Currency which is i mean larry fink he was just talking about big point he was talking about decline and then said Digital Currency probably because he knows his audience is mark carney and mark carney is the one who wants c. B. C. The central bank Digital Currency rights to be clear of the u. S. Dollar in the british pound and the euro are currently Digital Currencies that they they are already Digital Currency so they say well do we need a Digital Currency thats like saying like oh you know its raining outside is it really raining outside you know yeah its our its a Digital Currency already they havent made the intellectual elite yet to understand what bitcoin is all about were big coin has its own Monetary Policy built into the protocol thats audited every 10 minutes i mean theyre still trying to audit the fed and in america you know paul ryan has been talking about this for decades and they still havent gotten to the fed and they still have no idea whats in there same thing with every subtle bank they will pick on itself every 10 minutes right its like were watching the walking dead i mean theyre the walking dead these guys i mean what is black rock they just repackaged boxes ok wow whoop de do they take an override on this theyre just wrong cas theyve added absolutely nothing to the economy of substance and value on a positive note the report was there 10 years ago covering this and warning you of this and saying that the u. S. Dollar would be displaced by decline we saw that 10 years ago so now 10 years later you know heres a guy who gets paid hundreds of millions probably billions a year as managing 7 chilean dollars in assets and hes only just figuring it out now so you know positively youre still able to watch as youre watching us now if youre here. Me speak then youre watching us so youve been able to be ahead of the curve across the world now another guy you know another hes a smart guy he but hes a Billionaire Hedge Fund manager and hes an studying bitcoin and just got in this past spring and we covered that Paul Tudor Jones but he was just on Yahoo Finance and he said he was also saying some interesting stuff namely that the price of bitcoin is wrong which is really interesting Billionaire Hedge Fund manager Paul Tudor Jones on because im going to assume that its the wrong price for the possibilities that it has and im going to assume that the path forward from here is north yeah i remember he uses the term precious crypto to describe bitcoin versus lets say neither which he calls more like copper which is an industrial crypto or industrial digital coin and you have the precious crypto which is bitcoin and so you would value it like metals right gold has a huge premium copper does not and this is why you see or even these other all coins will never achieve anything the near the what bitcoin has because theyre just like Industrial Metals versus precious i remember talking to james turkey 8 years ago i was trying to explain to him what bitcoin was over there at gold money and i said you have to think of it as precious numbers precious no yeah i remember that episode you know so these are precious numbers and so now finally Paul Tudor Jones is the the gold sovereign has dropped you know hes the understand as far as the price not being reflective of what the price should be its mispriced right so this is the way a wall street trader would talk theres no reason to buy anything unless its mispriced right efficient market theory is completely bonkers and wrong if there was an efficient market nobody would ever make money outside of a market return the extent druckenmiller has been compound in money for 30 percent his entire career if there was an efficient market that would be impossible. He does there because its no such thing as an efficient market all prices all price discovery is very the mis priced i would say its very rarely accurately price so anyway Paul Tudor Jones will say look the the price of because the market cap of because at 302260 1000000000 or to have you is probably 500000000000. 00 would be a clearer actual price of what this should be so hes this is the case for him to be buying big coin right now this price because that would mean that 37000. 00 price of 500000000000. 00 market cap and so now were getting into the 10s of thousands now we start the real fast the source of the race for a big point starts by advancing 510000 at a clip you know 20030040000 out 100000 in the now were into the real race so to be clear Paul Tudor Jones mispriced is it himself he says its a 500 dollars 500000000000 dollar market cap he gets it wrong by twice as much so hes saying because it is only a 500000000000. 00 market cap thats thats wrong so hes hes saying its wrong when you compared it what it does and how it functions to the fact that equities have a 90 trillion dollar market cap and go all the 7 trillion dollar market cap so hes seeing it up it should be up in the trillions it should be up with gold he says rice without bring it up to 4 or 500000 dollars per coin which is what weve been saying now for 5 or 6 years on kaiser report so now Paul Tudor Jones agrees with us yes and also agrees with my analysis to james turn that its a precious number but its a fact that he would you know called a 500000000000 versus children 50000000000 it shows you where we are now in the cycle because guys like Paul Tudor Jones or Stan Druckenmiller or others they take the tend to think of hundreds of billions and trillions thats their market so. The difference between 250000000000 and 500000000000 is a rounding error this is not a big. Deal this is like i meant 250. 00 but the 250000000000. 00 for Paul Tudor Jones is the way you and i would think about lunch money right now i mean but thats thats who is now attracted to the big coin universe and thats what hes saying is that you know it should be 8910. 00 trillion dollars in value because it is para pursue with gold and i through used the word purpose to appeal to Paul Tudor Jones because those are wall street guy i know he likes to hear words like purposes because it sounds so frickin elegantly european banker like and so yeah were going to 500000 point of course and i dont you know i like i was saying guys like nuria roubini its not that hes wrong anymore because clearly he is wrong but hes become humiliated in that sat hes hes become humiliated shell of himself desperately spewing nonsense into the wind thats because hes an academic and academics can afford to fight the market the markets can be wrong in their mind because it doesnt match their paper so the bankers like larry frank and Hedge Fund Managers like Paul Tudor Jones cannot fight the market price so to be follow up on that other words Nouriel Roubini can say that the price of because it doesnt fit his academic model until his death never claim hes ever wrong yeah Paul Tudor Jones will say the price because it doesnt fit my analytical model of value and he has to prove that in the next 6 months or hes out of business yes thats the difference they both have models yeah one nuri al can keep a smile to his death like was said not by neil bores but plonk the physicist when asked when will quantum theory and other physics for the series of physicists be accepted and he said one funeral out of time right it takes a while for the old guard to die off according to the model in the mind of Paul Tudor Jones he thinks between has to be in the trillions of market cap if it is what he thinks it is so. Larry fink is also saying you know the u. S. Dollars less relevant heres a funny headline. And the hysteria of the headline shows actually the value of what cash means in peer to peer cache of bitcoin bank of england criticized for losing track of 50000000000 pounds of banknotes theres a bunch of parliamentarians in the United Kingdom who are really upset that the bank of england doesnt know where this 50000000000 pounds in cash is because its been dispersed to the people a spokesman for bank of england said it is the responsibility of the bank of england to meet public demand for bank notes the bank has always met that demand and will continue to do so members of the public do not have to explain to the bank why they wish to hold banknotes this means that banknotes are not missing so thats the purpose of cash right its anonymous and here are some parliamentarians who are really angry that they dont know who holds this 50000000000 dollars 50000000000 pounds of cash and thats the purpose of cash thats why between us peer to peer cash its your right as an individual its your sovereign individuality and sovereign rights to have individual sovereignty to be able to use your pass as you see fit yeah it goes back to the creation of a social contract and john locke in the light meant and how do you establish balance between government and those being governed and so here the bank of england and the parliament tarion inquiry is clearly overstepping their bounds in terms of establishing the social contract they dont understand that thats a quid pro quo that theres a balance between these 2 parties and fortunately because of the big coins presence the nation state as we know it is quickly coming to a close as well as all subtle banks and we can go back to a more Egalitarian Society where everyone is individually sovereign and we have on confiscated on the sensor a ball hard money plus you dont want these c. B. C. You dont want to central bank Digital Currency because they you want them to lose this 50000000000 pounds yeah im already forgot about. Like a brick and when we come back much more coming your way. Is youll media a reflection of reality. In a world transformed. What will make you feel safe. Isolation whole community. Are you going the right way or are you being led. Direct. What is true what is play. In the world corrupted you need to descend. To join us in the depths. For a mate in the shallowness. Join me every thursday on the alex simon show and ill be speaking to guest of the world of politics sports business im show business ill see you then. Welcome back to the kaiser report imax keyser time bats return to our conversation with b. J. Boyapati a d. J. Welcome back thanks max all right to be clear you are a bit coin entrepreneur we follow you on twitter youve been in the big calling space for a while now and have a lot of very insightful things to say now were talking about price predictions a lot of people like citibank talking about 300000 dollars and 2021 for because in this kind of maps your work a little bit there so let me ask you in terms of inflows capital inflows you see bitcoin draining investment dollars away from the stock market rather than from gold so elaborate on this thesis around when you think because my instead impact the gold market or are we already seeing because it impact the gold market and can we anticipate that because market cap would at some point equal that of the gold market vids through all the attributes that make gold good is a store of value so i do expect in the medium term gold will attain and eclipse golds organization if you look at the ownership distribution of gold is really interesting because he coined in gold a close cousins in in the sam weve clue Financial Assets to the ownership distributions of very very different he 3 primaries holders of gold on number one ironically Central Banks number 2 people in places like india people one of the savings in the phone jewelry. And number 3 wealthy individuals Family Offices and so forth are used on gold funds e. T. S. Like to get investment exposure i do not see the 1st 2 call sources the demand for gold shifting yet to be so so i dont think Central Banks are going to interview queen in a big way in this cycle or people who are in jewellery in india i do think Family Offices in wealthy individuals are already shifting and considering the coin as an alternative to coal and viewing it as an investment which is more of an asymmetry in gold so i think well see a shift from that aspect. But in the car in inflation environment i think both of them can do well while some of that source of demand for gold is going to swing over to be quite well we know d black rock is the number one purveyor of m. P. s they recently came out with a report suggesting that a lot of people were dumping their gold e. T. F. And moving that money into because we do see some some of that moment right now let me ask you this in your Immediate Community where you live. Youre interacting with people every day are you getting a sense that because it is becoming part of that there is a conversation or is it still way far out on the fringes and you talk to people about it and who do you talk to about it usually people in your age group for example or how does that work and felt a little bit about your person all you know experience so im a Computer Scientist by training and im form a group who engineer and certainly in my circles people have been talking about be queen for on a while on who will be interested in it as a as a Nascent Technology and as a new monetary good god i also think its sort of spreading out into the Wider Population we have arm and then. Crime to help us with our kids and i remember the last at the end of the Law School Market she started asking me about a client and i knew at that stage of the bull market that was probably coming to a close the board. I think in this cycle people have been primed to be interested in becoming because in the prior cycle they had heard a little bit about of someone they knew or they