Our website r. T. Dot com well be back with your world news that day in an hours time but right now though the kaiser report shines a light on how bitcoin is affecting the gold market. Over there are nice guys or theres the. Guys report one year. Max you know theres one thing that you have been saying and quoted them many times in all the sort of Financial Media relating to bitcoin is that this black hole concept that. Queen is a black hole sucking in all these other investments. And it is quite ironic that gold is kind of the result of those sort of universal forces universe the forces of the universe rather than universal forces black holes explosion exploding stars all that sort of stuff because youre black hole that is called bitcoin a black hole. Black hole you know like and then all the route to. I was on the kona drink and some drink on my black hole say hey buddy whats going on is america repsol is a chart so slow mixed. My you referred to. The chart from zero head and its going gold just going back to you know a few months into this year so you know its only twenty seventeen. Queen takes off gold falls remember when the queen hit one mr jones of death this is called a crocodile if you get sucked into that you get. Me this the rest of the script. Oh yes ill give it to you for a because im. Holding the script hostage so im taking over there is going to be no turning back up this toy black hole so remember when the queen first passed the price of gold in that had been something that we had been waiting for for eight and a half years everybody in the Bitcoin Community has been had been waiting for will it ever hit the price of gold will they be one for a one and sure enough it hit that unlike September September october probably Early September maybe the summer everything goes by so fast its kind of like were in parallel dimensions in the big quaint space so its now obviously like exploded well past that but we now have people in the bitcoin in the gold space talking about referring to the fact that goal are there one of the other thing this is a headline from daily reckoning and by the way you know you and i first when we first met back in two thousand and three daily reckoning was one of the only sort of online sites available at that time one of the go to sites this is way before facebook and twitter and all that sort of stuff we went to the daily reckoning all the time they talked about gold they talked about silver and heres a headline from the daily reckoning how bitcoin killed gold. Most seasoned traders concluded that the advent of Bitcoin Futures what unraveled the insane krypto rally weve witnessed over the past twelve months futures traders would eat the amateurs alive and slam the price lower once shorting bitcoin became an option they said but so far theyve been dead wrong so you know they go into how coin trading has still bothers obviously as soon as the futures launched it was up twenty six percent that day that was down that it was up so they were no less they they werent able to do what everybody in the Financial Media like c n b c had said that. You know these these smart money involved in futures would eat. You know all those bitcoin investors alive i said that would not happen you did say that would not have been even though i am well experienced in all things financial and i made a whole career on wall street training futures and options i knew that this would not be the case. Anyway so the black hole concept is one where this is good money according to therapist law if you wanna look at economics its pushing out the bad money you know somebody asked me this morning what does big coin backed by you know that question is all it always comes up whats it back you know my simple answer is this backed by all the money thats coming into it you know its sucking in all the dollars yen drachmas un euros its all being ruined and its all being pulled into in a sock going to leave you know once it goes into big going encrypt out the year swapping garbage money for good money so youre not going to go back to garbage money so its backed by all that money is backed by now when at that time people are saying well you know gold is a seven trillion dollar market and its a bad comparison to just compare the price because bitcoin at that time was only worth you know hundred billion dollars and gold is what seven trillion dollars will sense that was a statement was first made the whole Crypto Market now is worth over half a trillion dollars its on its way to be worth a trillion dollars its going to be worth seven trillion dollars going to be worth more than seven trillion dollars because when its tough to be worth a trillion dollars so all of the out money in the world all the fractional reserve banking over leveraged garbage weve been warning about in a two thousand and three we said yes gold is a place to hide from the. Apocalypse but then because it came around and starting in two thousand and eleven we said you know this is actually the way its going to happen this is the financial black hole thats going to suck in all the all the money and its happening you know quite rapidly and so hes right to say that the gold is the first of the major commodities last currencies to be disrupted by bitcoin but after gold well see other major fianna currencies collapse and implode well you remember Alan Greenspan who was a gold bug and then became head of the central bank of america well he had said that. Gold the u. K. Was stupid to give up their gold because in extremis the gold is always use just like what happened to germany during World War Two but this is something were seeing that bitcoin is becoming that because the gold is kind of linked to the u. S. Controlled Financial System so look at whats going on with that case of turkey versus around and they were using gold because iran was allowed to use dollars but now ive seen more and more weve seen venezuela announced the petro partly if not mostly to circumvent sanctions. I saw an advisor to Vladimir Putin being quoted recently where so much fraud and opaque happens behind an opaque wall of drew all sorts of derivatives and fraud and then they get bailed out by the Central Banks remember that there was actually mention the Bank Bailouts in the u. K. In the run on Northern Rock so here this gold guy from daily reckoning and thats how you and i met over gold talking about gold and daily reckoning he says big queen trading is totally bonkers and it doesnt look like its going to come down any time soon it is morphed from an underground tech geek trade to the biggest market menial weve seen in decades big news is pushing stock market stories below the fold despite the markets incredible bull performance this year equities are starting to take a backseat to cryptocurrency and then theres gold big to ceilings golds thunder as the Holiday Season approaches doomsday preppers used to stock up on gold and canned goods now theyve cleaned all the gold out of their bug out bags and replaced it with bitcoin so then it goes on just imagine the all these debates that is a store of value or a Payment System doesnt matter people are piling in theyre getting rid of their gold and theyre going long on big corn you know the sort of i mean if its. And out to be a fantastic store of value and its attracting trillions of dollars and the price will explode upwards to a hundred thousand and beyond and then itll start to level off theres a fantastic chart of somebody posted online about the gold versus the reich mark i guess was the german currency during hyperinflation wymore republic days and gold one to trillions of dollars an ounce versus the right market. Right mark around and the same thing is happening of bitcoin versus the u. S. Dollar where you could see big coins trade a Million Dollars a coin you know its not necessarily the price a bit coin is moving so much as the the u. S. Dollar is experiencing a hyper inflationary collapse like a why more republican having a why more republic moment for planet earth well hyperinflation is a kind of a political thing you know they always say it like inflation and deflation are monetary events hyperinflation is a political event people lose faith in that system so i know there are some who say like when you see the force of the u. S. Government or the Chinese Government or the abu dhabi government or you know any government going to come in and smash your head if you dont use their currency but if if the people have lost faith in their political and Financial System theres nothing you can do you cant beat them over the head enough you cannot the gulag archipelago show that you cant force people to believe in your your cult you know within a few years you know fifty sixty percent of the population will have a Million Dollars worth of crypto on on a private key on a you know a tres or a some other off line you know storage device and how you going to convince those people to comply with their stupid laws i dont say im going to be able to do was not just that you couldnt you couldnt. Its not whether or not you can get them to comply with the law yeah well pay their taxes yeah they buy their obamacare yeah ill do that but can you get them to believe in janet yellen. In the next fed chairman in the e. C. B. Can you ever get them to believe that that system is sound again can you get them to say ok thats going to be great doesnt matter you can arrest them you can put them in jail you can find then you can do all that stuff whether or not theyll ever believe you whether theyre now theyll be like hey happy with the system im going to go out and shell and im gonna think about the future and its all great now theyre not going to do that so here weve established that because sometime in my block all its affected your cognitive abilities dont make the camera people laugh ok let me frank i can only so we said its a story about you its also the value of bitcoin is that actual network in the ecosystem in the open public ledger its also attracted just like early Silicon Valley which didnt attract the best smartest most innovative people but the thinkers the sort of people who think about putting theres not you know the answer is no theyre not going to go back theyre not going back to janet yellen not going to back the Central Banks they will they wont go back to their confidence in the system is collapsing and there is no turning back this is the collapse of the nation state and the central bank and the fractional reserve money system big coin is to banks what the Printing Press was to the Catholic Church it collapsed it in many ways this is the end of this era this is the new beginning this is about everyone having autonomy and sovereignty with their own money that cant be confiscated then never it is deflationary wral uganda and like i said the value of the network is also the fact that the smartest minds in the world are attracted to it and theyre all working on it and theyre coming up with solutions so no matter how many how much fun you throw at it you can say all the things wrong with it as soon as you identify the things wrong with it or the flaws thats the thing of an open Source Network is people like oh the Evening Standard in the u. K. Ran a front page story recently that said that the government needs to warn people that if they lose their crypto currency there are no bailouts for them exactly exactly we dont want to go out. Go to go hole in the ground throw yourself in blow your brains out and cover up the hole thats what we think of you eating standard George Osborne the british establishment lawyers r. B. S. H. S. B. C. And barclays youre all frickin terrorists and you should die for ok we got to go to break stay ten much more coming your way. Apply to many clubs over the years so i know the game and sorry guys. The ball isnt only about what happens on the pitch for the final school its about the passion from the families its the age of the superman each kill the narrowness and spending to get the twenty million and one player. Its an experience like nothing else not to because i want to share what i think of what i know about the beautiful game great so what chance for. Peace. You know the palestinians have to use the United Nations as a weapon of war against the future of peace both for palestinians and israelis the United NationsGeneral Assembly has passed more resolutions against the Democratic State of israel that it has against north korea and iran and syria combined so that you know it is a bubbling cauldron of hatred and anti democracy. Welcome back to the cars report imax guys are time now to turn to jim rickards prolific author and hes also the chief global strategist at merrill. Jim welcome back thank you max all right mary glom what does it as a company i started with some partners a year ago we are specialized in Predictive Analytics and Capital Markets its actually the continuation of project prophecy which i worked on at the cia pfizer privacy if you were down here in studio very close to the world former sort of the twin towers there was Insider Trading in advance of the nine eleven attack after the attack the cia said well it was going to be another spectacular attack would have been started trading again could you identify could you trace it to the source code if i swore id break down the door and stop the attack that was project prophecy i was one of the code managers on that and basically we developed a Predictive Analytics system inside the cia that worked extremely well all thats happened now is taking that technology was some partners with some investors were now doing a private version of that to do Predictive Analytics the Capital Markets however weve go well beyond what we did at the cia as you know technology is advanced science has advanced so weve really got third wave Artificial Intelligence and some other inputs to that to come up with a very robust system ok now remember poindexter was saying John Poindexter will jump points that oh gosh yeah yeah he came after nine eleven i think it was he came up with. Mark it was a call well there was to be a total information awareness the rights project they wanted a they wanted to futures market basically a geo political futures market so you could bet on whether at the time Yasser Arafat was going to be assassinated are what the whole thing was modeled on my Hollywood Stock Exchange you know that i dont like i did not know is based on that technology i do know that this is sort of what they call the wisdom of crowds if you get enough people making enough that its. And i was the reverse of marla better production than you know an analyst sitting in a cube about how now that the time when they launched it they there was a lot of pushback because they said hey you know theres a conflict there because terrorists can bet on the terror act and then they go out and commit the act and they cash in well that was one of the objections but specifically one of the contracts was with Yasser Arafat be assassinated the pushback came from then senator Hillary Clinton who new york senator at the time who course was a good friend of arafat so there were there was that was shut down but we were we were hearing that was actually darpa the defense. Project research arm but we were doing inside the cia as we did we sort of dodge this bill is a process not really you know a Prediction Market as such as the years saying Predictive Analytics where youre looking at the data and you are using algorithms and you are sorting through the data to try to pick up on patterns and and this is all internal its not out there people are not buying and selling protection contracts were not running production mark run appear to violence but the science is when we do on the theres a lot theres less there than we see out of the wisdom of crowds wisdom of crowds is really good if you want to guess the number of jelly beans in a jar the average of a thousand people would know mathematical understand well actually be pretty good guess the weight of the car where you have an old english pair that stuff works good but the more complex the problem the less the wisdom of crowds works and for example even in markets where you have a lot of to spatial so lets go back to february twenty seventh two thousand and seventeen earlier this year the market was giving a thirty percent chance of a fed rate rate hike in march the fed actually did hike rates in march it got two hundred percent the day before the meeting but theres an example where the market was way off and the cicadas mean markets are invaluable but theres a lot more to we use. This that we use their complexity theory behavioral psychology history and other branches of science to come up with our forecasts ok so you say this is now across your work i believe it was in death of the dollar or the chapter one the death of money chad what i dont want to. Ok not the nine eleven you were observing as well as your colleagues in the Intelligence Community activity in the Financial Markets that telegraphed that something was coming we were not observing it in real time it was there that their information was t