And industrial is that correct yeah thats correct su the chip was not invented only by bt quietly using them from the seventys but the normally revolution if you feel about the beat going like about the infrastructure its the warmer all the operational expenses and this is a reason why instead of the c. P. U. The speech for g. P. U. Because the working more efficiently and consume less Electrical Energy and then they go to f. P. G. A. And right now all the new cities using a seems ok so theres a bit of an arms race in the technology of big client mining and in china of course you have huge players who not only design chips but they also have a lot of Energy Available to them and they dominate with between 40 or 50 percent of all the mining depending on how you look at it is is that concentration of mining in china is that an accurate description and is that going to continue in the near. Future and is the new coronavirus does that threaten chinese mining in any way to. Its was just like the obstacles for china because see if you look equal in the economy to grow green cloth to be in 2 years we china is most last thing growing economy and then you have the fossil growing to go i mean its oser quite a lot of electric kind of the build a lot of the bridges they build a lot of electrical stations you know make their stations and this is a reason why they have resources just to like ron the Mining Operations and in china because they have better composite see right now approximately like ports see maybe 50 percent of the Mining Equipment operating right now but during that time i think these distribution will be changed so right now people just doesnt really trust their government because the government doesnt have to be nations about the money you have doesnt have to be very good prices for a piece that doesnt get in on the bus and see it because the idea that big point is becoming the new gold is becoming gold 2. 0 still hardest money thats ever been weve ever been and ever seen in. Manatee it seems logical that eventually states governments will begin to add to their gold reserves so countries like russia and china that have been massive buyers of gold they will probably start to add bitcoins to their National Reserves will they get into i want to get your opinion on this because its been nagging me for a while will we see Something Like a hash war work countries dedicate energy to mining and an attempt to get as many bitcoin as possible because because it becomes a Strategic Asset would that you see that happening yeah things to biggest right now. How the have the like absolutely different there sue economical air then the internet was born its great the national the air all resources mostly brutal. Working and then occurring before any need some hall to be 1st. And then the twinkle for the paper money is not working sending like and providing the light Bank Accounts elsom up the proper way how to pay then we start sending sources using cannot show the stuff talking about economy working 247 moths in your swiping crazy car real deal more scared and strongly of 2 to 5 days. Providing quite not and not speak just pay for services we beat corners looking quite real money for a big point for internet just before the pavement and government because the also function in Global Economy if they are providing some sources they will need to protect their interests and this is also hard to be quite as working everyone is interested just to get their benefits from b. Korea and same time theyre trying to protect their interests and their supporters to cease to so the game theory thats kind of baked into the protocol it jumps to the nation state level and we see it all at the let me ask you about energy use because on one hand you can say ok this is a Massive Network theres 100 quintillion calculations per 2nd supported by the massive infrastructure and Technological Infrastructure but theres 2 points number one this this industry chance to go where there is Cheapest Energy and that tends to go where energy is being wasted so in the case of natural gas what thats flaring and being wasted you would see because when miners in the case of huge life School Graduate theres a lot of down time electricity is not being going through the system you can use that in mind but quite so its actually. Energy efficient in that way to get your comments on that and 2nd of all if you if you compare it to figure out money and the Energy Required to maintain the global field of money as you describe its highly inefficient the u. S. Dollar the yen the euro these are multi stack n. S. T. Albatross systems that should be definitely disrupted so is the comment on the energy of the Bitcoin Mining infrastructure where are we with that soon right now theyd be going small snap breaking using the kid relate to stations to approximately quite close to 80 or some. Electrical energy used for mining heat or a mix of power and its most cleanest one. If you look at the statistics the United States approximately between 64 person still 70 porson Electrical Energy is generated using it for so for its meaning bringing the gospel in the morning we quarrel and so on in the war its approximately 80 percent of electric an issue is generate the use of the portable pool its not the greenest one beach going on the biggest the lake the you dont make the station they are all these fields providing some extra capacity because you cannot improve them quite easily if you cannot expound the dom you building them at the beginning and he has a couple of resort just in case if you will call businesses or believing people need more energy and the result is creating the normal resource of Electrical Energy what they give the station i a bill to sell at the lower price this solar energy its not so green ill be counting biggest manufacturing the solar panels using a lot of like poison ship mystery it was a show of the solar panels he sells and also easy not so green. Definitely on green this is the biggest usually and this is the reason why stocks for a tesla. In the scene the police twice hired comparing to internal combustion saying you can see calculates and all the c o 2 all the Carbon Emissions during the fuel cycle if you use manufacturing and also disposal and the tesla from that point of view its not so green most people constantly assume asia the most of the electric i also believe its possible for the beat corn else using the most optimized infrastructure so its meaning comparing to a lot of initial ceased to be growing doesnt have a central bank it doesnt have offices it doesnt require and police the only infrastructure is already existing candidates using the existing internet doesnt require any additional cables lines anything in result. Made me thinks. And all the people like you mention the game theory if i would like to use that money so i became a part of the system im trying to protect my interests against your interests the only interest and to use the beat corn just to perform payment will be trying to protect our interests it appears as though theres going to be a new competitor in the big coin mining space in the United States in texas a group i guess led by peter thiel is kicking off whats called level one and their goal is to capture 25 percent of the mining Global Mining or hash trade they have access to great cheap energy in texas now this place in 2 different ways number one obviously on the downside if youre a big miner like bitch sherry probably the 1st and the standard setter of this industry i would say you know host of the annual conference and Necker Island you know you guys are really sitting at a very privileged spot so heres a newcomer and theyve got to raise. Saying 50000000. 00 or 200000000. 00 valuation theyre going to grab 25 percent of the market thats that sounds like a negative but on the other side it means that the Network Becomes more secure because you have more cash power going into it which means that the price is going to go up and you guys are very early in the space i would imagine youre sitting on some bit coy so theres an actual theres a lot of upside to the fact that youre bringing in more capacity into the send astri your thoughts start think the mining could be. Like any like any os or business right now its not just about the money to old idea. Became white most series right now its more about the technology more about the experience more about your engineering skills your on the me thinks more of your ability to more foster react on the all obstacles because. The internet and all the Services Like beat coin they have function to rainbow sentiment its meaning if something changes you should react immediately and build the better prediction and beast decreasing curie skin increasing purifications. We are not afraid about the new cameras in the that are in the normal the high concurrency on the mining fell creating to exactly the efficiency for a be quite as many keep pushing their old abrasions down by price because the concurrency between different players. Pushing them to optimize all their operation on complex expenses and this is why the old miners creating quite more to mice the beast in them all. To my state gracious bit ferry has really rocked their mining space for years now thanks in large part to this gentleman alex petra the c. E. O. The chief Information Officer thanks for being on the kaiser report. Plus my pleasure also thank you wow yeah. Not sure exactly what happened next but anyway stay tuned for the 2nd hour a whole lot coming your way. In this community there are people who believe that its ok to sell practically food on my table its really hard there are no jobs and you see that ive got kids that ask heat and as a parent. I can come up with lots of arguments theres a lot of conflict within the game and between the 2 teams most of the conflicts i would say are over balls around money and most of them money is made. Close one on each of those he knows each other is Good Business the state of california alone makes 6000000000. 00 a year off to prison complex just to get some point in your life where. You dont care anymore no i cares about you so you dont care mind anything. I dont trust medical authority at all ever and the reason for that is i had this horrible autoimmune disorder growing up and it turns out it was completely alleviated with very drastic dietary measures and i went to a number of doctors to discuss what happened to me and i was basically laughed at like diet has nothing to do with autoimmune disorders so my suggestion to people who have Health Issues they cant figure out if theyre going to see a medical professional and theyve been going for 10 years and theyre still in the same place they should probably take it upon themselves to Start Testing things out testing out diet testing out exercise and try and figure out things on their own. To. Use the body you know to move. Into. The new look for the. Little wooden move you do or do you. Want to go to. The students and you move through the trees. Did he. Let them. Welcome back to the kaiser report im max keiser time now to return to our conversation with the clout of gold money dot com and yes im an investor in a company heck yeah ok also welcome back to the show thats my pleasure max and we were talking in the last segment about the Central Banks buying up lots and lots of gold and what does this mean and are they preparing themselves for what exactly and it seems as of though what we have seen in the last 10 or 15 years is the weaponization of the u. S. Dollar rights of the u. S. Dollars World Reserve currency and then the u. S. Dollar and the folks who run it in the new york fed and in washington decided to cut iran off from the swift system and they threaten folks in iraq theyre going to were going to seize your assets in the new york fed right so theyre using the dollar as a weapon and is that one of the reasons why countries like china russia and others are buying lots and lots of gold because theres no counterparty risk they they want the exposure to the weaponization of the u. S. Dollar and is that if that is that true and has the u. S. Kind of hoisted itself on its own to target if you will by by encouraging that kind of behavior ouster i think that is true i dont think its the only reason he based it kate to the american suffuse that the dollars a weapon as you push it for some considerable time but the difference not is that the you know the big players away from america a lot easier intimidated or indeed talk you know like sort of chases in places like indonesia and so on so forth it they just dont get told any more so the result is that every time america uses its dollar weapon it just reinforces the idea that. Like russia or china whoever protect themselves by moving in to go rather than. Having the complete explosion of the dollar and this i think is one of the main reasons why russia in particular rich she earns nothing but dollars and she just gets rid of them as quickly as she can and good bets again to go the u. S. Of course adding over a trillion dollars of National Debt the next few years or so. You know Interest Rates arent going up the Interest Rates of course are not going up because the Central Banks load up their Balance Sheet with all the junk and they swap it out for fresh treasury bills you know last episode you mention john law and the mississippi bubble as its now not by the way i should note that myself and james turk also from gold money made an excellent film about this you can see it on you tube its a 2 part film about the whole rise of the ass not in france and john laws and what happens when you start to commodify everything in our economy to backfill money if the money collapses the whole economy collapses. And my taken to believe that you believe you think that this is where were at now in the cycle that everything is being essentially commodity ties to back this paper money which is like the worst thing you can possibly do its john law all over again but on a global basis is that true elster thats is how i see it i mean basically what joe or john lord did was he set up a private bank which School Function or oh it then managed to get that confessed it into the royal bank which is effect of late lower the 15 the 15 central bank or rather the Region Central Bank and it allowed johndroe or to print money to buy shares in the mississippi venture so it was a double run when he merged the 2. 00 together which i think was separate the 281720. The king in other words the regent because the king was. So young but the region decided to take some money out of this and he took 90900000000000 leaf threat just short of a 1000000000 leave her out of it right at the top now at that stage john doe is beginning to have to plug a few holes here and there in the whole thing. Like he had to ban the use of callings and his notes have to be used as money instead this is sort of the thing were doing nowadays or been doing for a while taxes had to be paid out of his currency in other words he would provide you the money to pay the taxes so it was a double round he was using that money to puff up the mississippi shares and when they merged in february 17th 28 that met that actually was the peak of the whole thing and what happened was that the collapse in the mississippi shares happened at the same time as the collapse in his his john laws bank notes in leverage so much so that by september in london there was no Exchange Rates in other words they went from. Full value to valueless from the end of february to the end of august now the key to it is that he was tying together asset values financial asset values with the currency in years want to puff up the other and the other effectively to support the former so you could see that the 2 things were tight together what have we got now we have got a very similar situation Central Banks puffing up markets we have this coronavirus saying today which should be undermining asset prices because with the chinese economy affect to be taken out of the equation for the foreseeable future we actually happen economic crisis but what happens puffing up share prices wall streets up 400 points today i mean this is crazy the other thing that theyre doing is theyre driving down the gold price to. Try and sort of gave an impression that everything is ok this is very dangerous stuff and it reminds me of well john rule was in february 17th 20 the similarities are all for us to see if we want to look forward it reminds me back in 2008 of course what got the whole Global Financial crisis started was one of the funds on wall street a Junk Bond Fund they had to revise down the Net Asset Value of that fund and that started a Chain Reaction it was one fund on one banks Balance Sheet was downgraded and it started a Chain Reaction of Lehman Brothers and bastards and elsewhere and a crazed trade the Global Financial crisis which requires 17 trillion dollars worth of or more and balance money and the response of wall street and washington and other banks around the world was to increase the size of the pipes that carry the money right so they didnt they didnt bother examining well is the curre