Cracking down on you know crypto currency and big question and they dont want people to have their own sovereignty so this is an interesting headline this is kind of like the genesis of what has how big queen was birth is having your own sovereignty s m s fs drive Household Debt to one of the highest in the world according to you b. S. The closely tracked australian Household Debt to income ratio has now reached the two hundred percent level and analysts at u. B. S. Said they were increasingly concerned about rising pressure among borrowers the increase was due to the Australian Bureau of statistics revision to include self managed super and you ation debts yeah well this is setting up australia and other economies around the world for the next leg of the massive Global Financial crisis and never want to way that it didnt thousand and eight because there was never any reform there was simply a bail out of the credit. And they were given more debt and more credit to expand the bubble to new Epic Proportions the difference with this crash coming soon now in the Banking Sector and in the sovereign debt market will be that instead of governments printing money to bail out these institutions they will engage in what are called bail ends that is a direct confiscation of money weve already seen a test case with Wells Fargo Bank here in the United States they test case this process by stealing money out of millions of accounts while fargo they stole money like this like a common thief because of course theyre terrorists and have a comment about that wells fargo but you know youve seen them pull into ten can do to a man and they were just going down the road to steal peoples money and oh did i speak out of turn so wrapping up on this story because we only have thirty seconds left i want to say this house i Household Debt two hundred percent of g. D. P. Will constrain further borrowing in the future weve talked about this in the past what are they going to do with the next financial crisis have they can have this you know s. T. R. Is the i. M. F. Going to come in and roll everything out is going to be gold it could be crypto currency and i dont i didnt mean threaten anybody ok thats just metaphor im a poet thats why im popular in the Rap Community now stay there for the second half because i got a fantastic interview coming your way dont go away. If i were a Public Opinion would seek to have myself and all of my friends and my family of leaders at the local level to a National Level be arrested by israel what you need to do is hold a mirror up to the israeli people and say this is what youre creating this is the reality on the ground were not using violence we will not cooperate with the occupation any more i plead with the public students who due to the nonviolent struggle because if you use violence you will never get the support of the israelis or the world. Join me every thursday on the alex salmond show and ill be speaking to a guest in the world of politics sports business im show business ill see you then. Everybody im Stephen Baldwin task hollywood guy usual suspects every proud american first of all im just george bush and r. V. To say this is my buddy max famous financial guru just a little bit different im not. Going to run your windows up with all the drama happening in our country im shooting the road have some fun meet everyday americans. And hopefully start to bridge the gap this is the Great American people. Welcome back to the kaiser part im max kaiser time now to get a special guest an investor and c. E. O. Of and founder of oh good. Myo. Billion of it my own welcome to be here previously you were the chief innovation officer g. E. Digital so youve got experience in lets call it the fortune five hundred you know the big most highly complex companies in america and you bring to them your work in Artificial Intelligence and you are now deeply immersed in blocks chain is that correct that is correct how does block shame factor into what youre doing now where investor in watching companies and ai companies and Cybersecurity Companies were absolutely fascinated with the empowerment that watching can bring to you how are we going to our artisan power because it decentralizes a lot of the Business Models that exist today and allows you to have a bank on your phone versus a bank account so decentralization in this instance though is also distant to mediation that means that a lot of the layers of a big or enterprise are squashed Housing Associations are made more rapidly and more effectively i would imagine absolutely youre absolutely correct a lot of Business Models that you just pointed out are going to be disrupted very fast because suddenly people can trade between themselves without ever needing a middleman theres a question for big corporations or any corporation typically they make money out of solving inefficiencies you know for example the car from henry ford was officially produced and people could get around a lot faster and the economy grew as a result but are we at a stage in capitalism where the efficiencies of these Big Companies is so great that the margins for profit are squeezed down to zero for example if youre in a micro transaction business and you are looking at profits that are even smaller than a Grocery Store in Grocery Stores only two percent profit margin for Gross Profit Margins but youre talking about even less than two percent how does that translate into Earnings Growth and how does that then become weve hit peak earnings ill just point. Raise right now due to the hyper efficiency of block change not just hyper efficiency block change hasnt reached the scalability lets be clear ok it hasnt and i actually. Am challenging a lot of folks out there to say that block chain is scalable it depends where youre at the fence what kind of legacy system you have depends what youre trying to do depends what your customers are trying to do so at the moment some of the platforms out there that are achieving some scale ability will need to be integrated into legacy systems and do youre right a lot of the Big Companies are squeezed out and a lot of the companies are going to be squeezed out not only on a profit side but on the transparency side not just block chain but many other technologies that are merging tech Machine Learning satellite data Cyber Security a. R. V. Our robotics blocked change our whole forcing transparency on to any platform that exists out there so if you dont start innovating yourself very fast youre probably going to lose out you say it has to be integrated into legacy systems y. And others these are new systems theyre replacing existing systems like p. D. P. Music file sharing on the web it didnt have to integrate with not so long playing records or cassette tapes it obliterated that model i love that analogy thats an amazing analogy and i think youre absolutely right some industries are not going to need integration into legacy systems because they will just need to leap frog as you just pointed out in music why do we need to go back and integrate in certain things unfortunately some industries in the world that not run that way and they are run in the way that current systems work so why change them also have to remember that a lot of these Companies Run by quarterly numbers and they report to wall street and so space for innovation is very tight and so in order to mobilize your whole team to innovate in something new and see if its worth investing your time right because remember so many innovations are coming at companies and how do you choose as a leader of a Large Company is there. Difficult for you to achieve the cost of Movement Time astri its digital yet that is obviously a candidate for block change innovation now youre saying ok some industries lets call the cement industry or theyre mixing rocks and couples and water and its hard to imagine how block chain is going to transform the concrete business youve got to move it in a mixture youve got a port on the road and youve got to make a road basically so is it going to bifurcate the industry theyll be some industries that are legacy but not legacy like theyre ever going to catch up with blocks and then theyre dead theyre complex theyre dinosaurs and were moving into people are going to instead of thinking oh concrete needs to be blocked chains are going to be thinking like water and you see is my mind to use a block chain to communicate with somebody to africa using sauces tokens better need to go there at all im just like flying in outer space and George Jetson you know you work with Artificial Intelligence they can only go to some tokenized robotic were or were you know my my thoughts are monetized ok can i want to opt for sunday in the in the kalahari and then there was some woman whos making me whats going on so i think i think youre right this industries will need to be separated in two ways there are some basic core of an industry that wont change but if you look at the example of the cement industry absolutely the Payment System and the supply chain will be probably not just by block change how does this if i want my consciousness expanded to the point where i dont care about jeff bezos now like if what what whats clapping are you going to. Essentially hypnotize me into thinking that i dont care any more are you the devil are you going to do the worst founder member on that or in the us are what sort of us the guy from from from from greek mythology you know not for the military grade the matrix manually i do want to be a god you say you want the red pill but the blue pill really got to stick i know this steak is fake but im eating it anyway youre trying now in our own. Thats the way to go here the background is amazing in terms of your ability to synthesize all this information and come up with your own theories but it just seems like if i look at the world today that i see what humans are doing to the places they live their ecosystem you know i remember had an ant farm as a kid and if you know the answer ventilate they solve their own environment and they die off and so seems like humans are doing their best to make the earth in in the hospitable for themselves inhabitable not novels and isnt that kind of happening and is a ready to abandon humans and i think again does a some of the really far off questions right because we dont know that yet i do think that there are a number of people out there who are trying to use technology for its good i mean look at the centralization and walked right theres a whole spectrum of law change right now thats being developed for social good for Financial Inclusion and for bringing more people out there onto the economic platform so i do think people come with good intentions but i do see absolutely exponential growth of technology and our inability to keep up with that exponential growth so unless we have a conscious design into our system no technology will solve our problems will still have to have a will power and we still have to have a conscious decision to solve a problem president nixon up at the rate of evolution a few well you know selection of the fittest they need tensions that are involved in this like in the Technology Space going a lot more rapid pace like theyre out evolving us you know were pretty slow procreation for humans is relatively gentle compared to your algorithm you know the mating with each other and giving birth to new algorithms new machines you know and so it seems like theyre racing ahead kind of in a break next speed what do we as humans have to fight back im in the camp of ai is going to win this thing its going to happen a lot sooner than he wants expecting how do we fight back my give me the how do we fight right now i need to get. So now you start to maximize a civilization just what would you do what would how do you fight back unrefined about this i think you need to go to block to camp learn how to block tina works and start fighting back how because of that i have a rudimentary knowledge of this law and what exactly would that mean i can live with jamison lock with a North Carolina hut with a gun and prepare for the mockups and start going down my neighbors yeah i thought i again i think here are taking it to extreme were not there yet and i havent really thought about you know next fifty tyrants and. Not only that i dont trust you because youre looking at me with these brown eyes youre like dont worry were not there yet but you know that were there were on the suresh told of the extinction event for humans and machines essentially are taking over. So i think we every single one of us as i said carries a conscious decision to influence the technology you know our ability to clearly being socialist by the Technology Already our conscious minds are outsourcing our information to google no one bothers to memorize anything anymore no boast of thinking more like your members use kinds of carry through in the case of our needs our wants and our desires and our titillation thats all i dont have a button and theres no effort anymore its the physical khalili of humans is becoming a blob stay we have no reason even to get up in the morning anymore the machines have taken over what were my going to have i think i think one of the things that i would point out is the pens and the place in the world your n. A lot of places in the world that actually need to get up and need to do the work i think we belong in a bucket list lucky some would say lucky some call unlucky and other places in the world there are still very far out from you what you and i are talking about so i think the world is becoming very separate as a jew graphically this is a case like that for a second in areas of the world that have been separated by physical distance it just to get water would require a trip. Well into the river to ours and youre saying that this ai enabled world means that the same compression of time that we enjoy in the. Advanced economies kind of is coming to economies that have been not participating absolutely in a way especially with a chill less than a being in place so is that accurate and what does that mean for these for these areas of the world exactly i think its absolutely accurate the world is becoming quite a pretty folks say that the world is becoming more interconnected it is becoming more interconnected and its easy for us to disseminate information and to block change possibly even trade value right in a fast way but youre absolutely correct some of these places in the world its going to take much longer to catch up but that you know i could argue back this is a happy ending im going to step all over the answer this is a happy ending some other words the consciousness its a word you brought up a few times that exists in places that are cut off its now able to be shared because of the tokenization last thing so folks are being from extraordinarily rich cultures you have d. N. A. That goes back to with through time and been associated with some of the greatest artifacts and cultural and in art that is now being joined up through the platform so my consciousness is being raised by being connected tokenization to somebody else somewhere else right thats right its just thats not you know you see. So you see like a tapestry i have consciousness to me how or when i see absolutely empowerment of you here and a person somewhere in africa that can trade something of value without a middle person and the thing about you could have thought it could be even a thought of tokenized yeah and then were going back and forth on a micro transaction thats right right and so were creating procreating in Digital Space and were giving birth to digital offspring through the exchange of like you called digital semen on yes. If you want to. Do you want to chat if you want to say that. Im sorry but im using a metaphor of course yes youre but i hope so. You dont challenge my metaphor its the do you my no comment so youre an investor in and the founder of. Which. Could mean a number different than what it stands for orpheus back stance or are yes yes but in the end what he can recommend mentality even if its there are few and it was a. Guide a significant figure that that could charm people and sway people there his way through music and crown the music right yes i feel totally charmed and i dont know what this company does but im here im sorry im im im going to follow this woman whatever shes doing im following her thats it i just just a future well we got to go thank you bring up thank you so much its going to be an all right well thats going to do it for this edition of the kaiser report with me max keiser and Stacy Herbert thanks to our very special guest. Who you know thats if you want to catch us on twitter its kaiser report its like time buy you know. How to play too many flips over the years so i know the guy you mean so i got. The ball isnt only about what happens on the pitch to the final school its about the passion from the families its the age of the super money to kill you know your own lives and spending to do the twenty million and one player. Its an experience like nothing else not to me because i want to share what i think what i know about the beautiful game played great to woman all chance with. The piece is going to. Welcome to worlds apart in the twenty five years since the oath the process was launched it remains one of the most fruitful rounds of talks on the Israeli Palestinian issue not only because of the formal accords it produced but also because it managed to put the protagonist in one