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tv   Keiser Report  RT  June 23, 2017 12:00am-12:29am EDT

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new evidence suggests some of the victims of the grenfell town unfun who could have died from cyanide poisoning that's off to hundreds attend a day of rage in london demanding justice for those affected by the fire. gemini's palm and approves a plan to allow snooping on the criminal suspects use of messaging services such as whatsapp. and american forces in yemen have reportedly been involved in the interrogation of detainees in prisons where torture allegations all right. we'll be back next hour with more on the day's top stories but don't go away cause report is coming up next.
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i am max kaiser this is the ca's report well the crypto market is expanding hundred billion and growing growing by leaps and. as we've been talking about for years now a lot going on here and it's mutating and morphing and things are happening the buzz word of the week buzz word of the mob as i see in this whole coin offering station max we're going to talk about initial quaint offerings but first i want to establish that this market started with big coin chis report was the first international television show to cover it by three years or three years ahead of c.m. d.c. we covered that when it was like two dollars a big queen and it went up to three thousand over the course of the next six years seven years then we had a theory come on the market and
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a lot of people are talking about a thing called the flipping tell us what the flipping is the flipping is when the market capitalization of a theory i'm exceeds that of big going and so it's flipping the flipping the places on the market capitalization chart so that would be the first time if it happens a big point is the dominant yes and more and more of the trade volume is going to theory i'm now a theory is not very dissimilar it's not that similar to bitcoin cheese a different thing we'll go into that in another episode but the theory in is a well on that block chain of a theory is. this i.c.l. market so the initial queen offerings are happening on the theory and block chain which is causing the price of ether to soar so much which is causing people to buy the theory i'm in order to participate in these i.c.a.o.
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as it's become a big market so i'm going to look at this reuters headline here to kind of start to go in a little bit to this. becoming kind of controversial because big names like very sober it's royce a bog in the gold market they're all like saying this is crazy south sea bubble tulip bubble sort of insanity going on in the market and this will queen offerings present dangers to investors new challenge for us regulators to name a few of them we have a bank or just in the last week or two and that's with tim draper is heading that we have brought pierce he went through the official he's of the i c o's he's the only one i know that intentionally made sure to get to abide by f.c.c. securities and exchange commission regulations then we've had the basic attention token and just to show you what the basic attention token was this is what they're prospectuses essentially online the basic attention token improves the efficiency
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of digital advertising by creating a new unit of exchange between publishers advertisers and users it all happens on the theory and blotching and the value of the token is based on user attention which simply means a person's focused mental engagement so people were pouring into this it raised a lot of money very fast only to be then superseded by the bank or which came afterward between one hundred fifty million and three hours so these are the sort of you know products being offered to the market and investors are pouring in well the potential for these coins if you combine it with artificial intelligence when you can buy combined with three d. printing you combine it with social media as a bio of browsing as the attention token. does he get paid to browse effectively using a frictionless economy of crypto currency is to make that all happen when you combine it with a lack of trust in the physical world and a crumbling ecosystem and more virtual reality it's
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a twenty first century disembarkation from the physical plane of existence into a virtual plane in the virtual plane uses crypto currencies where thoughts become money what i call the psychic equity conversion the p.c. i've actually written about this for twenty five years you know going away back to my days on wall street when i started to create the rivet of products based on ideas that were derived from securities but not actually securities you know and that was a launching pad for so much creativity on wall street and now we've got crypto currency and i've got additional coin offerings and there are a proliferation of these i.c.a.o. these initial coin offerings the f.c.c. is not on the radar whatsoever they're starting to now look at it and try to figure out what the heck is going on here they are unsure what to do and meanwhile the forces that shape laws in washington the lobbyists they're now
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being funded by crypto billionaires and crypto multimillionaires so the ability to reshape laws and to reshape the f.c.c. in the image of crypto is upon us it's possible but. the are i will go into that the article does mention that calling yourself i c o which sounds very similar to i p o o which the f.c.c. regulates that's their market and if you stomp on their ground just like if you if you issue a gold coin that looks like a us dollar the liberty those people get arrested charlie sram a friend of ours he was arrested did two years in prison for exchanging operating as a money exchange. via bitcoin so. there they could just pounce they could arrest you when you arrive at j.f.k. right now we don't know what's going on but they we do know they're looking at it. in terms of the investors the people piling in on these tokens right now they're all happy because the price everybody is making money and these things are doubling
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tripling in value in like the course of ours but the tokens do not in themselves confer ownership of a stake in the business and that's one of the ways that these. the people offering these coins say well we're not offering an ownership stake therefore it's not a security this is what one of their arguments is and this is what the f.c.c. is going to look on whether or not the people buying think they're becoming an owner of this particular what could be security if they rule it such depending on how the deal is structured the investment of the tokens might lead to a future share and revenues of the venture and other cases the investment can be compared to fund raising or crowd funding vehicle using tokens that could be redeemed for cash at a later date once the venture a successful since the issuance of such tokens is currently outside the scope of regulatory oversight they are seen as a quick way which tech startups can raise capital without all of the necessary requirements that would come with say initial public offering and stocks so we'll
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see what the regulators say but this is right now it's not deterring anybody from investing in ami times to. knock on the f.c.c. is door and told them about the fraud being perpetrated by bernie madoff sure i think those four times it was harry might cop listen he's warning of another fraud but i don't know if he's actually going to get the f.c.c. to look at that i mean yes you know they have their good days and their bad days you know they're not they they as i said their profile in the marketplace is shaped by money by lobbyists by contributions by politics and i think that the crypto community knows that with this added hundred billion dollars soon to be two hundred billion dollars and then five hundred billion dollars that they have tremendous a lot of to to reshape the law in their image to support the crypto universe which is a d g d bar cation point from
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a system that's supported ultimately a failed state called america a failed state called britain britain's in freefall britain is collapsing a failed state called greece spain for. it's the all of the economics of the twentieth century nineteenth century twentieth century our general have generated a failed global so yes even back in the beginning of the nation state when early nation states we have the emergence of things like the east india company of the stock market and amsterdam was basically created for that we had that led to all sorts of speculative investments eventually in london in the south sea bubble of the tulip bubble people became insane and then lost it all and that's when people started being beheaded that's when the king started beheading people because he lost money it depends on if you basically ruin the wrong people with these but in
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terms of what the article from reuters who they talked to about whether or not the f.c.c. will get involved they do establish that the s e c is in fact looking at it whether or not they get involved we don't know they did decline to allow the winklevoss brothers to launch their their own e.t.f. but from a regulatory and legal perspective what remains contentious as whether the issuance of such coins are the equivalent to the creation of a new security and should therefore come under the oversight and regulation of the s e c peter van valkenburgh director of research cryptocurrency advocacy group queen center told a recent new york city conference that what participants in the market want to avoid is the creation of a token that acts as a security quote it's like painting a target on yourself because what does an organization like the s e c regulate they regulate i p o's that's what they regulate so let's just change one letter and make
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it a c. and then it's ok right no. why would you adopt the terminology of the regulator when you're building a thing you hope they don't regulate he asked you know i know you say and you maintain that the nation state is falling apart however long after governments fail the bureaucracies remain and those bureaucracies are things like the f.c.c. and they have their power is to regulate the i.p.o. and you try to mess with their power then they disintegrate so they're going to do everything to maintain their power and if you say oh my i.c.a.o. is like an i.p.o. but not an i.p.o. because it's a seed not a p c get it you could be taunting them they could be taunting the wrong person and they're venal. and you open a coin wallet for everyone at the f.c.c. and you start sending them because i guarantee you they're going to change your
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tune. that's the way it works in america the dollar baby there's no concept of our ideology it's free market competition and nothing is more free market competition than crypto countries and we're going to reshape the entire regulatory framework now of course that's volatile and also that's what i'll go into in the last but here i want to establish that everybody is making money right now and they're all happy in their own sailing happy and i stare exceed their high and their feel good but again not all i.c.'s are created equally due to the complexity of the underlying projects experts argue that investors need to have the technical expertise to be able to evaluate whether investing in an i.c.l. makes sense moreover the startup itself should provide sufficient information for investors to evaluate the investment in some cases the information is adequate so people are pouring money into it we will warn you that some of these they might just be exactly like the south sea bubble famously during all of that the hogarth
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hogarth had some prints about people down there in the city of london in saying it was like bach and molly it was like insanity around everybody just trying to they set up a little shop with their little cardboard boxes and saying like here invest in my entity our mission our enterprise is to be determined we're going to do something just give us some money and you'll make a lot of money so this is what a lot of these i.c.'s at the moment could be about well you know one buffett famously compared bitcoin to rat poison but what he ironically did not understand is that the rat in this occasion is warren buffett. all right well we're going to take a break stay to the second half of the way. let's talk about blackness and the blues of being black. and always will in a big house down at least that's what i've been told but it was simply that we in
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remains is such because we simply forgot. the scene we've allowed them to rearrange their pain you've told us the sickness of trusting our enemy we came to face. that's what i call the lack of blackness or understanding the blues have been black . sheep the blues have been black should mandate that we attack knowing how when and what to do to come this simple in his natural as be black is simply tat the feelin blue is black and blue. with the islamic state perceived to be on the defensive in syria many of the parties in this proxy war are buying the next stage of this conflict as a result of russia in the us are there is washington strategic interest in syria
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really when. welcome back to the kaiser report imax guys are time now to turn to close to a lousy other of neptune global all is the creator of the p. and c. ounce. chris welcome thank you max right this is a brand new product in the universe of precious metals and so p m c ounce what is it ok so it's actually a patent it financial asset and received as patent in two thousand and thirteen so
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it's been in the market several years but it's getting a lot of traction now but really the origin of it was i look to create something that would marry what people see as the ease of trade and liquidity and visibility price visibility of an e.t.f. with physical precious metals you know the old style owning bars and coins so we create it was something that trades like an e.t.f. and is actually diversified which takes even with e.t.f. offer a step further and created a physical precious metal investment asset ok sell for precious metals or monetary models gold silver platinum and palladium they're all in this you could call it an index if you well. and it's the p.m.c. ounce but it's not a physical product is it it is an index well actually it is there's an index and then there's the investable product what the product is on a coin though no it's not right but you sure all expand on that so it is we have
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the p.m.c. index and then there's the p.m.c. ounce which is a way to invest in the p.m.c. index so we did not take good delivery bullion or good bullion meant to melt it down and make a coin that would kind of destroy the physical properties of it and kind of take away its liquidity so what it is is for each p.m.c. ounce you buy a fixed for actual amount of gold silver platinum palladium it into an allocated account in a non bank bullion depository and then it's recorded in the customer's name so each p.m.c. ounce has the same fractional amount of each metal and it has been weighed it so it's a logical diversification we wouldn't put the same amount of. dollars into palladium as we would gold but giving it this diversified is basically a turnkey diversified portfolio we found and we you know when we created this we looked at the precious metals pricing going back to the eighty's that we created a product that with the exposure to especially the platinum palladium we kind of
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have a product that has less volatility than being in one of the individual metals on the row like gold or silver and that's the that's the goal of the product ok so i call up and i say i want to buy a p.m.c. ounce and you all know instantly that this means you're getting form at all allocated you're getting allocation in this format all's per the formula correct that constitutes a p.m.c. ounce that formula concept is constituted by of these four precious metals now silver or gold plated him platinum so i mediately notice that. the composition of the ounce it has ninety three and three quarters percent so over three point five percent called one point seven percent play them and one percent platinum how did you come up with that weighting great you know the first reactions when people say that they say well this is all silver so from a physical perspective yes it is mostly silver but we know the pricing is different
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and the like the ratio gold silver ratio says if you were going to have an investment that was half in the gold half in a silver one be around you know you look at the dollar amount going to each so you know we looked at these metals over time and what we came up with is that fixed amount basically fifty two percent of each of your investment is going into gold and gold is the primary go to metal even though silver is ninety three point seven five percent physically based on the amount of dollars going in and represents about twenty two percent of the investment and platinum palladium being in the teens so it's dollar weighted not wait wait exactly and that's so we actually show that on our website on our products tab page we. show the physical composition and also real time what the component values are not me play devil's advocate for a second because of course that gold silver ratio fluctuates correct and the people buy precious metals because they like it for the weight and they quote it in a way it's wait that's the great thing about it to wait people say oh gold's down
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sharply and i said i still have x. number of ounces just didn't go away now they've always loved to quote the weight so why not just have an equally weighted coin isn't that commensurate more what the spirit of precious metals buyers well actually this really achieves exactly what a buyer needs for a portfolio but the physical composition has to be equal for p.m.c. outsold five years ago or two years ago as one sold three years ago if we based you know if you made a customized what each new investor you do not have an interchangeable ounce they could be broadly distributed and if you're selling and the other individuals buying the exact amounts of metals are now exchanging ok so you can't out of the way it is that these ratios don't change day three point three quarters percent of the silver that never changes correct that's in the p.m.c. and so when you buy the p.m.c. ounce you know that you're getting that comp a composite and so and you're roughly the dollar per each investment approximately
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equal so your progeny get an equal investment in these four metals cry and that's your goal correct and actually we have a very good tool on our website called the p.m.c. calculator right and really what it allows an individual to do is do a mock trade it's all in real time so it's not static numbers but you see exactly you entered a number of p.m.c. ounces for purchase you know shows obviously the per ounce price and sold trade amount but more importantly it's showing you how much gold silver platinum palladium you're quire and how many dollars went in and what percentage of your overall investment when it to each of those metals ok so mass is the stuff your money manager or you have a portfolio you're managing and your goal is to put a certain percentage of your portfolio into precious. models and this allows you to do that in a cost efficient way on it on a cost on a dollar per metal basis so you're not so just forget about the way here you're just saying i want to put x. ten percent of my portfolio into precious metals here is it go into the p.m.c. ounce it's a virtual ounce if you well it's not an actual physical product however it's backed
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by actual bullion in the vault i guess is that bully allocated in the name of the customer it's all our cater to the p.m.c. ounce and the depository report records all the owners of those p.m.c. ounces we actually have a dual reporting system transaction confirmations come from us but the depository also confirms the arrival of the metal and the allocation in the client's name ok who is neptune global what they are when that jim global who is neptune global and there are that two level one who are they ok so we've actually been around since two thousand and two we're a full service precious metals dealer but the product the creation the pre-amps the p.m.c. ounce has really differentiated us and over the last two years it's driven our business four x. and two years ago the p.m.c. ounce was about twenty five percent of our business last year we were about seventy so as investors become aware of it and they see they see the logic of it we show right on our home page that the performance of the p.m.c. ounce gold and silver going back to two thousand and eight and you can see that the
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p.m.c. ounces a much smoother blended return burst something like silver where a lot of people you know piled into silver two thousand and eleven and twelve really. a sad fact one or two folks. and i do remember that i do remember that yes a. that's correct so go ahead sorry so this is why you know that little exposure to platinum palladium helps a great example is in two thousand and thirteen fourteen and fifteen a silver and gold pullback people weren't aware that palladium was doing well but he was doing excellent right now why why why why there's a host of reasons for that i mean a lot of it is considered supply shortages just getting to be. a bit of a squeeze and you're really seeing palladium close the gap where platinum i mean is performing a whole plot of this isn't catalytic converters right correct and then well played and what's the use for same thing but on palladium are both used in catalytic converters platinum is used exclusively for diesel and gasoline engines use
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platinum or palladium and basically you know they can use either one as a substitute they kind of look at what the pricing is and as technology gets better and maybe they get a little more efficiency out of palladium you'll see more palladium use so in other words i send you guys a check from my bank and you buy this this p.m.c. ounce and it's like what so i can give you know what it is sell you go back into cash and you would send it back to my bank absolute has the relationship keep close to. liquid and it trades in real time and there's no. settlement they are so correct it's a two day settlement exactly like any other secure security and that's just moving the metal then out of your name into you know our account so we can either you know sell it back into the marketplace or just you know hold it for the next until we have to add it to someone else's account so now you guys in the precious metal industry have a lot of competition now with crypto currencies going you know i mean even a couple years ago if i said that there were competing with each other the precious
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metals folks to be like ha ha that's crazy it's never going to happen but now you've got over one hundred billion dollars and crept out and you have a new generation brought up i crept out this millennium generation doesn't know gold from you now kryptonite you know they don't know it they know bitcoin you're right so how is it a genuine competition how do you see that these two were working actually i know there's a lot of contention with some of the folks in the precious metal space versus the kryptos and i don't think that's really accurate i think right now there's obviously much more focus on what's happening with the crypt those because a big corn and you know the precious metals are always being interfered with and the feeling is the price is suppressed. but the end of the day even though crypto may be suppressing the precious metals a little bit now i think it's actually going to be good for them in the long run because the crip those are challenging what we call the status quo and the status quo is really the enemy of the precious metals right so as you know as the status quo continues to get challenged that will be good for precious metals and then it's
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on our part to help educate the younger generation that both should be in your portfolio it's not one or the other it's really should be both and i think the p.m.c. ounce also appeals to you know someone who looking for something that's maybe a little more thoughtful you know a turnkey diversified portfolio you know the metals don't move in lockstep they are all precious metals but they have different drivers and they perform differently at different times again i'll go back palladium being a tremendous example totally a performing all three model and i would all older i believe over the past ten fifteen years or so it's been moving up on average about seven percent a year have you gone back and figured out what a p.m.c. ounce of be over the past read back dated it over the past ten years well we have it right on from two thousand and eight and it's right on our home page what what what what's been done. as a listen it was sixty six point six six percent which is ironic as well gold and silver well you know eight years do the math but you do the math. a percent a year. performing gold and silver by
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a bit yes but the point is it's not a managed fund we're not here buying and selling trying to market time the value is we're mitigating the high volatility so if you look at that chart on our home page you say ok it's a little bit ahead of gold and silver now silver with the last risk with less risk adjusted it's doing it's doing enough to warrant getting involved plugs out of that way exactly it's performance could be performing but on a risk adjusted basis you know you have a smoother entry into the precious metal market they don't have the volatility. quite is quite quite as pronounced i guess you. and say exactly and you we will all know that true portfolio management is is managing the volatility it's not just chasing returns so i mean that sort of people completely missed that there were people getting rich not by making money but by getting rid of risk exactly that that's i make money it's not the it's not by making money it's by not getting
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having any risk and that that's that's the key to it and that is you used to watch it now it's right around the corner yes i used to work at paine webber right around the corner we probably bumped into each other harry's a hit over we may have back in the day over a triple scotch annex benedict or something we may have we're out of time i got to go thanks man cause report thank you very much max i was going to do if this edition of the times reports me max keiser states you never like to thank our guests it's crisp lousy over there it not till global with the p.m.c. ounce if you want to catch us on twitter it's kaiser report and i'll buy all. twenty of the two of these. candidates so you prime minister of all of the
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european partners like the liberal majority the pulse of coalition government the prime minister. just a few months ago the prime minister won with them be a twenty two percent of the vote. and he's still trying to put a coalition government together. it's all hypocritical of the europeans to say may doesn't have enough to the majority. of the.


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