It fits into this theme that weve covered over the past few years which is that as soon as the u. S. Used the u. S. Dollar and in particular swift as a financial weapon alternatives emerged and thus said in the end of the power of empire this is happened throughout history hubris often sinks an empire when they become a bully and so were going to look at what a story about china china working with a Dutch Company by the way here this is when the u. S. Slapped all those tariffs on agricultural goods and all sorts of goods that china retaliated by stopping all imports of story being products and of course argentina is a big producer of that so theyre chinas pivoting and having to re develop and build infrastructure in countries that they want to do business with so heres a headline china wants to build a greens super highway arjan tina here is the parana river is their main waterway and it dumps out in to the ocean and heres your guy heres argentina is when osiris and china has stepped away from u. S. Agriculture imports and said it would bid on a project that could create a greens superhighway in argentina reported reuters Chinese State owned Construction Company c c c c is readying a bid that would allow it to dredge argentinas parana river the countrys only river access or waterway for bulk vessels that transport soybean and corn from the pompous. Farm belt to the south atlantic they dont have david ricardos the contemporary about of talked about comparative advantage and here are a comparative advantage speaking if this river which would run through the grain belt and give argentina way to transport grain and give them a leg up over brazil and the us that has to spend a lot of money moving the grain of the culture to the to railtrack or whatever and so this is a member could be a game changer the british of the Industrial Revolution do the canal system they gave them the ability to move stuff around enter into or england waterways so this could be a huge game changer it is just like the yes it is there china sees the going to monetize the asset there 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 till the last possible moment all markets create prices and all prices are a signal. That that signal is either right or wrong 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 craving 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 it right now is conjecture whether or not china will get this deal to dredge. Pronto river or why we should be able river purana river trying to encourage people to go bathe in the winter it was for a problem. Pronouncing it wrong and all our spanish viewers on our tea and espanol we should go alone or go there look provolone in argentina most fry provolone. Probably let the problem. 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 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 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 u. S. Dollars from china or un who knows but. Another opportunity here and this is an interesting one that weve been covering in the u. S. And thats fracking and theres. This huge reserves found in patagonia and toto 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 domenic maryon 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 shit ok 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 an american they doesnt matter that is 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 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 the. When he came into power he deregulated the entire industry for airlines and basically they found themselves in the situation of offering free 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 they have those 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 1. 00 of saris so its been wildly successful there is he 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 of started 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 their entrepreneurs let them fail thats called free market capitalism and build the build the airports build the runways build 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 get to lose money thats it thats why theyre shareholders thats what thats what thats what its all about part of the problem what has happened is because the currency collapsed so fast all of their costs most. Their costs are in either u. S. Dollars or euros so you know that they petrol for the plane that the fuel for the plane the training costs for the crew leasing of the plane which is the number one cost so all of those their 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 secular plan economy to a free market economy is perfectly normal embrace change embrace the chaos be the chaos you want to be when to take a break when we come back much more coming your way. In the troubled 19 seventies a group of killers rampage through parts of Northern Ireland that was coordinated loyalists attacks particularly costly population tens of stories in support forced to flee their homes and what was striking to put these attacks was that the or you see the Police Actually took part in the attacks so instead of preventing them they were active participants in the burning of schools streets in belfast i think more than a 100 innocent civilians with. The you can seniors and we found out more i was surprised about the extent and of the currents which the solution was involved in some of those cases the killers would lead to be named. I think it went to do very very top i think. That was where all the taishan so you know on the go ahead. You know world big part of the new law and conspiracy its time to wake. To dig deeper to hit the stories that Mainstream Media refuses to tell more than ever we need to be smarter we need to stop slamming the door. And shouting past each other its time for Critical Thinking its time to fight for the middle for the troops the time is now were watching closely watching the hawks. This is a stick from the water bottle phone in the stomach of the fish the brand is part of the Cocacola Company which sells millions of bottles of soda every day the idea was that lets tell consumers theyre the bad ones theyre the litterbugs theyre throwing this away industry should be blamed for all this waste the company has long promised to reuse the plastic. Thats. Their plastic the only. Thing you could object to funding me. On im your best bet is the end of a footy team but for now the mountains of waste only grow higher. Welcome back to the guys report im max guys are time now to turn to dr frederick i asked is building the Justice System of the future hes also a lecturer at coursera Singularity University and others welcome thank you us good 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 are building lets briefly discuss the situation and when a seris as an entrepreneur how difficult does a frequent currency crisis make for you or does it actually make it easier to pitch bitcoin and how does an entrepreneur fit into the entrepreneurial argentinian ecosystem well actually in argentina so many problems in the past with governance he says you know by the governance that you know maybe the company here is hard but thats what you have with the currency that can help you to do some things without friction we can pay a fine artist with a group of crises to come like said to do to abroad because if you want to do this with a traditional ranking when i see them with very hard right because you have a couple controllers banks they dont give you the money that you are paid so thats why i think argentina has such a big. Community of developer for progression right so it seems to me like the argentinians have an extremely bad gyal mind because theres a lot of immigration so theres a lot of languages a lot of different ways of doing things a lot of different backgrounds and they all come 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 sailing 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 point 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 of this more globally these days you die so imagine you have a. Contract with 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 and i like the evidence like the conflict. And the growth of less than ever and theyre 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 claris right and so these are spark contracts smart contracts yeah right and this is what we were told a theory im 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 its built on the serial because this time we started it was the largest. This mcclintock thats formed by 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 segments 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 comes down and credibly down to almost a gig economy levels where people are just putting up a few paces surreally 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 f