Could be a huge game changer it is just like the yes it is there china sees the theyre going to monetize the asset theyre stepping away from the u. S. The u. S. And america are in this the u. S. And china are in a trade war and so china is like ok we dont we dont need to look that way we can go to argentina you know we can we can do the new silk road with russia so the u. S. Is not thinking its not unique to the u. S. And it looks like we might pick on the u. S. But the fact is every single empire has made the same exact mistakes for the same exact reasons they become bullies they become hubris stick and theyre used to getting their way and they dont like disobedience and the further away from the empire you are from the center the more disobedient they tend to be and then it costs a lot of money to send resources there and an armed forces and i think we have a big military base just over the border in paraguay i you know it takes cost a lot and it costs a lot to control it to keep them from making their own deals like. China also for its own part obviously it is a rising power and were not saying whether or not its a good power a bad power but what the fact is that it is a power and it is quite clever and its it goes around it goes to those edges of the empire to do the deals 1st because it doesnt want to provoke the us directly its trying to avoid that until the last possible moment all markets create prices and all prices are a signal that that signal is either right or wrong and it doesnt mean its one political system or another political system its just a number its a signal generated by a market and markets have always been with us because people have always wanted to trade from the beginning of people and they always will want to trade the nation state is just a construct that will came recently and will probably disappear monarchies come and go but trading has always been with a price signals of always been with us all we do is tell you what the signals tell the truth the signal is the truth the price is the only truth in any news youre ever going to read the price is the only bit of truth thats it Everything Else is conjecture by 2021 there will be a decision on this so right now is conjecture whether or not china will get this deal to dredge. Pronto river or why would you be able river parana river trying to encourage people to go bathe in the winter it was full of problem. Pronouncing it wrong and all our spanish viewers on r. T. And espanol should. Go there look provolone argentina nice try provolone. Provolone. You know 62 percent of the population of argentina is descended in some way from italians taste it tastes so fantastic so marvelous just to point out again how it will give it an advantage over the us in brazil the other 2 big Agricultural Producers in this hemisphere dredging par now will give argentina a significant advantage over its competitors this means farmers in argentinas farm belt can directly load their products on to ball carriers this is a. Much different from brazil and the us you have to transport products by a truck or rail over an extended distance to the nearest port and then of course the cheap peso is great for exports and they receive a lot of hard currency us dollars from china or un who knows but. Another opportunity here and this is an interesting one that weve been covering in the us and thats fracking and theres this huge reserves found in patagonia and total which is the French Company is the 2nd largest producer here but this is an Interesting Data they have here total shale oil for growth in argentina unconcern of low gas prices total the 2nd largest producer of natural gas in argentina plans to focus on its oil assets there are concerns that an oversupply of gas could drive prices to unprofitable levels this is the more shale reserves in patagonia and they said theres huge potential to find gas natural gas in these shell reserves but the head of total in argentina he says we want to see at what level the prices will stabilize we have seen in the United States that gas can go to a negative price we want to wait to see what the price of gas will be in argentina because it could fall to negative prices and thats dont we mary on the shell catastrophe in america and elsewhere as proven itself to be a disaster in argentina could be dodging a bullet here because all they have to do is look at what happened to the u. S. Or in Great Britain to understand that shale of course is negative prices its always negative prices because the amount of energy it takes to do shell is greater than the energy you get out its negative energy and its also the amount of cash that you need to do. Fracking is greater than what you get out its always cash flow negative from day one its energy they get it from day one its a negative dont argentina dont. Do shell avoid this catastrophe just forget about it its a loser its dead on arrival forget it dont do it you can argue with them all you want but the fact is they cannot print dollars and you see that on the ground here that is the problem they have a currency crisis because they cannot print dollars america can print dollars so it can go they could lose 30. 00 a unit of natural gas american they doesnt matter they could keep on producing this is the raw information this is total saying well in argentina we actually have to sell it we have to actually make a profit so therefore natural gas isnt profitable and its a its a weird situation because here technology and there were and are great technological advances in the shale oil and natural Gas Production its been an amazing Technological Advancement but its a stand off because it is so easy and they are fast to ramp up compared to Traditional Oil and natural Gas Production but you bring up a good point there yeah it is an interest this has to be included in this understanding of shell is that its a money loser from day one but it doesnt matter in the u. S. Because all the creditors who lend money into the shell industry are constantly being bailed out by the central bank that prints money thats why they do it for the fees its great for the banks but its not an energy play its not a business its a sinkhole but here as you point out in argentina so they cant just print their way out of a losing situation and the economy is already a bit fragile you dont want to add another loser into the mix like shale drilling do avoid it completely this is part of that situation of what price like theres plenty of natural gas and and shale oil and things like that but at what price not at the price that people are willing to pay so therefore we have a total gridlock around the around the world i mean its a weird situation where the price they cant find an equilibrium because. Everybody and their mom can start drilling very quickly as soon as the price goes to a little bit profitable and then everybody starts drilling for some natural gas and then the price collapses again so it is very extremely volatile another situation where we have and this was an interesting story that i saw this was from the summer and this is wall street dot com and they were talking about the Airline Situation here because machree when he came into power he deregulated the entire industry for airlines and basically theyve found themselves in a situation of offering flights theyre out there trying to compete with each other because there was just one National Airline now theres like 6 or 7 here operating and theyre having to give away free flights theyre losing money on every seat but hoping to make it up on volume Airline Fiasco in argentina as peso collapses a new plan goes awry on the 27th of december 26th seen the federal government of argentina under a new president c. E. O. Machree launched the revolution. The brainchild of the minister of transport gamma dietrich an ambitious plan aimed at overhauling the stagnant Airline Industry in argentina while often called deregulation it was actually a far reaching and ambitious plan supported by annual expenditures of about 1500000000. 00 by the federal government and the Airline Sector over the 2017 to 2025 timeframe including modernization of many argentine airports and construction of the 1st airport wholly dedicated to low Cost Airlines poem are near one of stories so its been wildly successful there is he huge like double digit increase in passenger numbers internally but many of these airlines will go over some of the details in a bit but theyve been losing a massive amounts of money well thats a typical transition period all over the world countries go from their National Airlines to these you know highly competitive rate airlines yes and theres a lot of blood in the streets thats called free market capitalism i mean theres nothing to worry about here this is normal the entrepreneurs and start of these airlines are going to go bankrupt they love to go bankrupt they love misery they love to fail. Because its a badge of honor let them fail to entrepreneurs let them fail thats called free market capitalism and build the build the airports build the runways build the infrastructure thats your job let the executives at the airlines or the shareholders take the losses they dont care about the shareholders they take the risk they going to lose weight thats it thats why theyre shareholders thats what thats what thats what its all about part of the problem with what has happened is because the currency collapse so fast all of their costs most of their costs are in either in u. S. Dollars or euros so you know that they petrol for the plane that they get the fuel for the plane the training costs for the crew the leasing of the plane which is the number one cost so all of those costs suddenly doubled in the course of just a few weeks when they go bankrupt and all those people are going to have to get new jobs but its a very fluid economy and theres a lot of different types of jobs out there and this is the way it works when you transition from a centrally planned economy to a free market economy is perfectly normal embrace change embrace the chaos be be the chaos you want to be when to take a break when we come back much more coming your way. I had a spiritual experience. The little girl that died in the fire cynthia collins. Were looking for a preacher. 54 years old 21 years old good. Didnt commit. To that he was in the sense. That nobody with this. Close put much of for the sea org. Adam golden for the wall. Nobody. Caught. That. Not at all you will learn it all. Through through to me hasnt forgiven himself for something. I knew she was there and i know exactly what out is telling. People life. Sometimes theres no explanation. And. One of the things that i started to realize is that the noise in my head as it me i started to practice. Organizing my why you are wrong and what i wanted my life to be even when it conflicted with my internal annoyance so you know why are you i wrote a book but in my head im not smart enough people like me dont write books. But what i held myself to it was the action and i started to notice that i could coexist with it while still living a life that went beyond. Welcome back to the kaiser report imax kaiser time now to turn to dr frederick i asked who is building the Justice System of this future hes also a lecturer at coursera Singularity University and others welcome thank you are great to see you this is intriguing stuff i can hardly wait to get into this before we discuss the Justice System of the future that you were building lets briefly discuss the situation in buenos aires as an entrepreneur how difficult does the frequent currency crisis make for you or does it actually make it easier to pitch bitcoin or how does the arch for fit into the entrepreneurial argentinian ecosystem well actually you are so many problems from the box with currencies you know by the governance that you know maybe a company here is hard but thats why you have crypto currency that can help you to do something we dont freak show we can pay somebody sweet group of currencies to come like said to broach people currencies if you want to do this with traditional banking and when i see them with very hard right because you have a couple controllers bongs they dont give you the money to because you are paid so thats why i think argentina hasa such a big. Community or for developer for carnosine right so it seems to me like the argentinians have an extremely add gyal mind because theres a lot of aggression so theres a lot of languages a lot of different ways of doing things a lot of different backgrounds and it all comes together in this melting pot and people come together theres a strong sense of community theres a resiliency here and theyve all theyve dealt with so many crises and its kind of like a start up failing again and again and again but it makes as a badge of honor really you know youve come through the fire and you know youre in a good position i think thats why big quite adoption is skyrocketing here in argent. So lets talk about the Justice System of the future what is it why is it will how is it so we are living in a world thats more global these days you die so imagine you have. Gone through some guy who is in another country or for a Website Development project and there is a dispute as i so you know going to another country to what they might allow to court for like 100 dollars or 1000. 00 so imagine if you could use a system that is based on block chain where you send the money into an escrow and then if there is a dispute with the contract or then there is a jury thats going to decide whos right they want to analyze the evidence like the deed and the growth of what the neighbor and they are going to vote who is right and this is these folks are very important problem in todays a globalized economy so the name of this going to jihad of discomfort is clarence right and so these are spark contracts smart contracts yeah right and this is what we were told a fairy m. Excel that theres also competition in that area from projects like cortana and. And these are smart contract type crypto blah change projects do you guys pick of those enterprises of those of those just projects which are better or do you are you. Take any of them are any of them doing better than others you know so just builds on the serial because this time we started it was the largest. This mcclintock that form bought so theres no you can work in any other so because the thing is that what we need for this to work correctly is that there are siemens i mean at the in the in agreement with the contract so no one can damper with the jury selection on no one can tamper with the evidence so its a new theory about could potentially working in the older books right ok immutability s. K. And so these contracts of Global Contracts is a global world out there are people doing business all over the world and to have that kind of internet. Well exposure is quite expensive for the average person but with a lot jane the cost them down incredibly down to almost a gig economy levels where people are just putting up a few paces australia and they can engineer a smart contracting and launch a Global Business what give us an example of how this is working so for example this is working now on this moment for token disputes you know how did exchanges that have to do this docus and decide which still has to list so this costs but its really been a very like obscure process never know how to process works so imagine having a neutral jury decide which tokens should be accepted into an exchange like so this can have the possibility of removing the comp from the couteau ecosystem so im this is something that hes said for a few days or so this is the community you should know gene to get rid of the scammers and to only allow the tokens to have to be listed so this is where youre suffering a nation right is it going to jump out of the crypto world into the other non trip to world i mean you know you talk about juries and jury selection is something that is extremely arduous its time consuming is there a way to streamline that process and put on the block chain speed up justice absolutely so good its not intended to eg replace traditional Justice Systems which are like more complex itself or criminal but you know for end of commercial disputes on corporate disputes this can provide a much faster and much simpler it is better solution process if youre running a business in the mainstream world for good crypto and you have to spend this too its a new dont want to go to war for years if you could have a private system which already exists but doesnt like the next faster and cheaper so thats thats what the what were missing right so typically and business as a start ups theres a theres always a lag time you know you send out the invoice and then you know you wait for the money to come in and. A lot of times businesses dont grow fast enough and that they get behind and this is a major problem and a growing a business over the smart contract its their all synchronized right so their payment and the delivery of the item or the services synchronise you get paid with the delivery almost its all in escrow and so you really get rid of a major deterrent for scaling a business which would be accounts receivables but imagine for example you are in the u. S. Or whatever and you are thinking of hiring some argentinian developer so but ok you dont know if this if there were kids does is not good enough so im not going to court in argentina is complex and so there are so smart contracts if you like this type of if you want to flow out of service but you get this descent into that ok if there is no compliance with the rules of what was agreed so there is a way to solve this so this is some very important infrastructure for the World Economy right because usually people when they get in the business and they do dales they have to decide a jurisdiction to resolve the differences are i think oh this is a its a your country or my country here its on the block chain and you already know ahead of time what is going to be the outcome and how are you going to resolve these these problems and so this is let me ask you this the many who are against the really the major social media platforms like twitter or facebook having power to deep platform and silence voices i suggested a centralized d