and there are those the most establishment bank french bank and you know felix rohatyn which was their c.e.o. back in the seventy's and eighty's orchestrated the municipal systems corporation or mack bond turnaround from new york city there they go to advisors for the insiders of these various nation states and they have a great reputation and they are see the writing on the law they realize that bitcoin is about to kill off deader than a bag of hammers but you and i have also said here on kai's report you heard this your first we did say on kai's report years ago that when u.s. the u.s. started using you know lateral power the fact that wearing a uniform the world led by the u.s. as an empire they do they do have a lot of power but they don't because as soon as they use their unilateral power alternative spring up when they start imposing restrictions on people access in the global financial system through swift for example we said because it's going to be used as an alternative or gold or something like that so this is what we're seeing with statements like this coming from those are bank it's not like it's coming from
r.b.s. which has no power on the right there's there's two mutually exclusive pieces to the puzzle if you make america great again you lose us dollars world reserve currency those two are mutually exclusive well notice he didn't say that the euro would replace it he says because nobody nobody wants it really may be good to have a neutral platform like this. i mean i could be the special drawing rights from the i.m.f. that's him crying jim rickards jim records. you know he's wrong he's going to pick i mean we've got to take a break here because a report on coming to you a special report don't go away there's plenty of work on your way i think we're going to talk to town brains that's right today there. is a rather trendy of an. the past three years to talk about the new world order fair
enough the recent g seven combat in canada and trunks decision to engage north korea for just two weeks samples pax americana is undergoing a significant transformation. and is getting international recognition with the help of israel at least in the world of zoos remember wolf it was dismissive to do it long before you like it this isn't my cup of tea is going out to study hall maybe you know john. the only palestinians who gets the most help from its jerusalem counterparts i don't think there's some of those who in the world under the bush didn't know who could do this. and the earth is a lot at that age to have to display any of the muscle that you had i'm going to continue in the doesn't seem to do more commitments last time put this off.
wedding oh wow ok i was in my closet looking for something to bring in money conference money come and more in a sense then i thought why not wear the sram wedding outfit. no very good choice i mean i had to drop off to just go on stage here at the conference you look at you're going to money come off it's a bit let me get a reaction to this it seems a bit corporate if you know i mean so i was fortunate like ripped out it's money and it's like there's a lot of corporate vibe here it's different than the usual crypto conferences that we go to that's true and i actually like i feel like half the people i speak to are . business right now your customer which is a huge trend now in crypto and especially for i.c.l. is that were launched last year they're now being revisited and they're being asked to provide k y senior customer rules and regulations the regulators are coming into this space in a big way talent is not a surprise what do you think but not
a surprise at all to me i've always saw all of these i see oh it's going box to experience ice you know securities and it was kind of good clayton finally made it somewhat clear in a recent interview when he said if your tolkien was created by and at the price which almost all of these are and if anyone is buying the stock and with an expectation of profit then you are in violation of the holocaust and you are a security and if you are nice you know in a space you should probably be a little bit there just right now please name in an interesting statement or is basically the time slating i.p.o. with. he's saying if you're interested in doing in i.c.a.o. as a private placement do a private placement but eventually doing an i.c. or live you know. that's outside of a private placement come see us at the f.c.c. so he's not there's not even a cigarette paper between ip and i see the industry expectations if you talk to the
group of people or that we're reinventing ip as the rules don't apply to us. right now i will say however it's a little bit disingenuous in a lot of them try to go to the us you see a while ago and the f.c.c. kind of wanted nothing to do with it so they are late and i unfortunately they are a big arm of the u.s. government and even though they are late they can still get you they're still going to say it was your fault bernie madoff was an open investigation for more than ten years i think. went before the regulators three times with proof and you know they just didn't they that's all they do all day is look at them now you were on stage your money conflicts stacey herbert talking about krypto and securities and investing and the point came about reg d.m.'s me and i think the debate if i can characterize it correctly was that well you know reg d. precludes anyone from having a certain network their income from participating in let's say a reg offering and
a lot of people on this side of the debate are saying hey wait a minute that means most of the market won't be able to participate when your thoughts yeah so i'll actually a really good question that comes up a lot this idea well how come only rich people get to invest in facebook's shares right how come something like that isn't open to the average investor and my argument to that has always been well it's a very speculative investment and even professionals can't get it right ninety percent of all businesses fail especially businesses and brand new technology the failure rates probably even higher but people still feel doubt the little guy should have a. and it's a tough argument and now i kind of say if you really want a high risk investment just going bust in the stock market at least those companies have already proven their cost of pre i.p.o. stage and they're in there are already publicly traded and most people feel that the stock market is always all priced and always too dangerous and always too risky
without realizing that all of those companies are currently in the stock market one hundred times riskier before they made it into the s. and p. five hundred over some reason people think that's not risky but that's and p. five hundred companies are companies where revenue companies that have a very low chance of going bust right this argument that well how come i didn't get a chance my facebook it's a bad argument because along with facebook or a hundred other companies trying to do something similar in ninety nine you never heard of or they all end austin to say that oh you were able to pick that one that was facebook is fallacious plus even venture capitalists there hit ratios one in ten they're ninety percent losers and they're the experts and they're the complete expert and that i've had a facebook thing i say whoa all of your money would have probably been in my space because that's where my money would have been i always thought my space was better and i was a user of my space i hated switching to facebook i just had no choice. and you're right on that and my best example of this is the biggest free i.p.o.
investor in pets dot com was amazon so even data in. they were going to went right this is the regulations are there and look at the pension market for example you know we went to a transition in the eighty's where pensions were being self directed by employees and take it out of the has a corporation and individuals ran him into the ground in two thousand and think i wiped out because individuals couldn't handle the volatility so they were before then just getting a coupon clipping for a five percent return every single year of their retirement something that was you know a nice pot of money but if you give an individual that you. they get caught up in the emotions are not professionals get wiped out by making the argument that serves a purpose and so they are going for a second in the space of crypto it is a part it is or a way to get more public participation encrypted now in a way that satisfies both the need to protect people from getting wiped out and
still have exposure to these emerging technologies while big question in my opinion is your safest bet but once again just like people don't want to invest in the s. and p. five hundred and they would rather invest in facebook's future competitor as a pretty i.p.o. for the same reason people don't want to invest in bitcoin and they want to invest in these competitors to have a very low probability of success they're basically buying up lottery tickets and we all know that's not a very profitable way to make a living going to buy lottery tickets but that's what you do in a group called if you want to safe investment in crypto go buy because they don't put all of your money in decor and if you want to do it in a tax deferred way i hate saying it but is your only option you can buy that in your retirement fund and you're right i sell off the rack my old for one k. i'm responsible for my own retirement money and you can do that if you go by hopefully they'll be a better e.t.f.
on the market soon better than she and then you can buy it as a tax deferred retirement account and you know diversify your portfolio a little bit fred let's talk about big plans for a second so you are you follow technical analysis and you're known as somebody who teaches groups had to do technical analysis and it's gone now says israeli the other side of the analysis portfolio one on wall street uses the other being fundamental analysis or you know looking at the actual earnings of a specific company and determining their growth rate technical analysis just looking at the price charts and. and you're making certain assumptions about how prices tend to repeat and patterns repeat because they're subject to human emotions and human emotions never change exactly how people are greedy at the time they get bearish on the bottom you know when i was working on wall street you have many many what i call contrarian indicators you know people tend to buy puts at the bottom so
the put call ratio is bullish because it's a contrarian indicator and these are all very useful tools and space is a very young spaces tend to be you know technological i was going resisting saying geeks and nerds and what i mean that's what we're talking about this is all very new to them how's that message been interpreted that's actually been great for me because i recognized pretty early when i started writing in the space about price and technical analysis that i really am dealing with a lot of people that are getting into trading because of this the removal of barriers to entry to become a trader at a speculator and all of these assets without any kind of learning it's almost like a you know what let me go drive in the indy five hundred. before i got my permit in trying a car and i kind of carved out this little niche where i have experience in trading i have watched the markets for fifteen years i've worked out well shit for ten
years lots of trading experience and they let me at least educate people on how to be traders it doesn't mean they're going to make money trading but at least they'll have an idea of the other side of trading which is technical analysis and using charts and using those emotions and putting yourself in better probabilistic bets to potentially profit from the market the problem that we have is people can't separate because they're too young to investors they can't separate the idea of an investor from a trader a trader should never be married to the asset the third trading it's just something so. if you are in love with declawing or you're in love with the theory you're not going to be a very good trader of those assets because you're emotionally involved the best traders are never emotionally involved with the assets that they're trading. to tend to this one is making money the other one is risk management so technical
analysis can be a tool for speculation but it's also true for risk management as far as where to put in stops and other orders to keep you keep your money from being drawn down i mean this is what the trader once you draw down money you know you have the arithmetics of losing it takes more money to get even than the amount of money that you drew down so he down ten percent you had to make more than ten percent to get back to even so this is the cycle that people get into it is for a destructive i want to talk about something a fifty one percent attack you know and so totally not amount to envisioned because when he talked about the fifty one percent attack and we know that it's been resistant to fifty one percent he did not mention futures in the white paper and or any of the correspondence he had is anyone that i'm aware of did he mention financial futures we do now have big question in the argument against a fifty one percent attack put forward by i suppose she is that according to game theory you wouldn't do it because you'd wipe yourself out but if you took
a position in the futures market and then you tactical and say went you took you know want to put on big corn and then you killed it with a fifty one percent tax you know there is some room to manipulate or to make markets or to trade yourself i think that would be very very difficult because the futures have just come alive and don't fall you want those futures is pretty low the leverage on those futures is also pretty low but the big question house rate and the ability to get back to fifty one percent is very very high and by the time futures could be liquid enough to profit well from this kind of idea. the hash rate is going to be exponentially higher still making it so hard to do the fifty i guess actually a big client is running ahead of the devil he hasn't day one one step ahead of the debt and in addition it will be a very dangerous bet because as the big market grows higher who's going to be the counterparty yeah you're going to take on all of these short plays like what
happened in the financial crisis right everyone thought they were going to make so much money off of the proper position and the c.d.o. xix up the counter parties also failed no liquidity right now liquidity right now so just because you made this giant bed and you were absolutely right what happens when your counter party. was to left and the counter party goes down wasn't saying at all that you have to feed the ducks in there quacking right if there are just one yes and the intermediary the c.m.e. as insurance to back the stop but they could also not have enough this is what the c.e.o. of interactive brokers was very very worried about but on the upside right on the downside that there may not be enough back up and liquidity to do it so it's difficult and i always say a lot of people there are gold bugs a lot of people don't want this catastrophe to come but you don't realize if the kind of passion these two big nobody wins today stocks now because the report thank you that's going to do it for this edition of the kaiser report with me max keiser
and stacy herbert like to thank our guests. if you want to catch us on twitter it's kaiser report until next time you know. come up. the. little gunning she. does she don't consume don't judge even in talking to little jellyfish dealing with firsthand on the course and in that article who don't just
wonder what equals this tells me if i don't listen because i don't please don't sell me i'm doing movies that devotional putting me in a society as a pseudo so dowsett all to the sitting on. join me every so straight on the all excitement chill and i'll be speaking to get us to the world of politics sport this list i'm show business i'll see you there. i can imagine. i don't know i wasn't there but i can imagine a russia defending its national interests in a way that doesn't help the hawks in the united states but couldn't has this image of such a hard guy. and i would only blame him for not caring about american public opinion
even more because it seems like no matter what he does this is an unfair response nonetheless what i'm saying is it's gotten very personal. when a loved one is murder it's natural to seek the death penalty for the murder i would prefer and it's meaningless in the death penalty just because i think that's the fair thing the right thing research shows that for every nine executions one convict is found innocent the idea that we were executing innocent people is terrifying there's just no really hasn't been that we're even many of the times families want the death penalty to be abolished the case we have to the death penalty here is because that's what murder victims' families what that's going to give them peace that's going to give them justice and we come in and say. not quite enough we've been through this this isn't their way.
from. day two of the world cup here in russia seems a six goal thriller between portugal and spain with a hat trick from chris jonathan alter was. last in friday's other two matches here and why a battle to a narrow victory over egypt iran defeat morocco one zero. in other world news donald trump's a meeting with vladimir putin could happen this summer and suggests russia should be invited back into the g seven. for the latest on those stories and more and our exclusive world cup coverage had to r.t. dot com here on our two international cross talk is coming up.
hello and welcome to cross top where all things considered i'm peter lavelle has been rather trendy over the past few years to talk about the new world order fair enough but what we are experiencing now is the end of the old world order the recent g seven in canada and trying to the station to engage north korea are just two examples pax americana is undergoing a significant transformation in the old order is fighting back tooth and nail. talking the old world order i'm joined by my guest john merrill in washington he is
the former chief of the north east asia division of the bureau of intelligence and research at the u.s. state department as well as author of korea the peninsular origins of the war also in washington we have michael flanagan he is president of flanagan consulting and a former congressman and to new york we cross to george samuel lee he is a fellow at the global policy institute of london and author of the book bombs for peace all right gentlemen crossed rules in effect that means you can jump in anytime you want and i always appreciate michael let me go to you first here i think it's pretty fair to say after five hundred days in office we're beginning to see what an american first foreign policy is under donald trump so my question to you is america first under trump compatible with the post world war two liberal order that the united states herald into into being and is. two thousand and eighteen a significant date for that order that appears to be well changing if not breaking down go ahead michael. thank you peter i think that the their
american foreign policy your question presupposes that we've been the same since the second world war and i think while we've had very likely goals from a ministration administration that are very similar i don't think we've had the same execution of that foreign policy and i think you're seeing a very different execution of the foreign policy one that's more trade centric one that's less interested in in making a macro once over the world got to embrace everything deal but taking deals a bit at a time much as a businessman would and i think you're seeing a level of foreign policy interaction and product that is unfamiliar to many in the structures now but is in no way bad and i think that that's giving a lot of pause to professionals who have been doing this for years and excellently for years but different doesn't necessarily mean wrong and i think mahmoud being in the right direction i'm not i'm not judging i'm five i'm not judging if it's right
or i don't know what i'm going to be describing i'm describing it because i don't know if it's right or wrong it ok and i'm glad you brought that up because i'm not talking about the new world order because i don't know what that is ok but i do know what we've had for the last seven years ok let me give that more or less the same question to to john because michael gave a kind of from an american point of view but there is a lot of american allies around the world that see it very very differently than the current occupant in the white house go ahead john well i think the asian allies are coming along. he's he's right trumps foreign policy approach is different than his predecessors it's more realistic more hard nosed and even a little more improvisational i think there's a tendency towards neo isolationism and there are doubts about alliances particularly when there is a perceived asymmetry of burdens an interest yet so. i think it's he
also feels the traditional alliance management emphasis that we've we've had has fostered excessive dependency and created moral hazards so he's trying to solve in my opinion trying to solve some problems and he's a disruptor ok george your turn i mean and i think you see that with korea it was ok i think you can see it in a lot of different things right now in this sense and i think these tendencies towards isolationism and or overblown i think john really mention and i mean a lot of people have it. benefited from american large jets particularly in trade and security i mean you know the united states is willing to go to guarantee the security of europe borders but not its own country i mean you know where is this going to stop enough is enough go ahead george. yes but that's always been the key to america's overwhelming presence in the world it's been the leader of this massive bloc this massive nato european union bloc and that's given it america
this huge influence now. america had to pay a price for that that the price it paid was that it was running massive trade deficit with everybody because you know in return for their not contributing very much to military spending america gave them. privileged access to u.s. markets it didn't matter very much because the as long as the dollar was the world's reserve currency the trade deficit would eventually eventually all go back to america anyway and into finance but now trump has sensed that that american economic supremacy is on the challenge and the rise of china and the china russia block that is a real serious challenge to the united states so he's now trying to shake this up and saying ok now the a this block that will lead. it is of they really have to
jump to it they have to follow our goals they you know they you know what we want whether it's in the middle east or anywhere else they will have to follow where where in the prostate they say ok well i guess we have all foibles such as rail and you don't really agree with it but it doesn't matter will over look at now they're trying the doctrine is that you have to really follow it because if you don't follow us then you will pay a price and so we and we see this with the in the case of iran america's not just walked away from the c.p.o. way it's actually imposing yandell tease on the europeans who are actually sticking with the agreement and so that's what rituals are drug he's trying to consolidate this block in order to confront at some later date the new colossus of marginal in the world which is china in alliance with russia ok you know michael and i tend to agree with george there but the issue is that it's not really a bloc of even remotely equals it's one country calling the shots if you don't fall
in line you'll be sanctioned like the u.s. is saying she did scold him quote adversaries and foes i mean that that is kind of a upping the game of sanctions when you agree yeah we're america bitch i mean that's kind of what what the administration has been talking about with the america first policy for your forgive my my use of the vulgar the the administration really has is not driven ideologically to have a one world borderless society is as perhaps the obama administration was leaning toward and is not looking to have a pax americana as the neo cons and the bush administration were looking for i think it's looking for global leadership in the finance sector in the trade sector and i think trump is absolutely focused in that direction and where there is some big line crossed like chemical weapons or the belief of use of chemical well. because to step away from that argument here or to be able to talk about some
really egregious behavior by a world actor the administration is going to shrug and move past that and i say we have bigger fish to go but with michael and players like russia has ever been michael you know critics in particularly in the liberal media saying you know trump wants to move away from a rules based. international order well i mean if i take what you say logically speaking then the united states doesn't give a hoot about the united nations is going to unilaterally bomb whatever country it wants it will impose sanctions on any country it wants me to walk away from the deputy of the united nations i mean that's the extreme ok that's where this is going to and that's why i'm not talking about the new world order because i don't know what it's going to be john go ahead and jump in there i noticed you were reacting. well i think that's that's a little extreme way to put it what we've seen trump do in the case of korea is settle a long festering problem and break with traditional prescriptions and being being
willing to sit down and have a dialogue with the leader of north korea i'm calling him the leader of north korea because one of the things that american media do all the time yet is they call him a dictator or a tyrant anyway he's having a conversation and he's trying to bring to bear i hope he's successful he seems to have had some success so far he's trying to establish a degree of a poor and to schmooze the guy and hoping that that will bring him along and will be able to make progress so let's see how that plays out i think so far he's been doing a pretty good job on the korean issue even some democrats are beginning to realize that although belatedly george i i am one hundred percent behind donald trump. my engagement of north korea absolutely if that's what it takes for peace that i'm on but i'm on board ok and i just hope that it's not sabotaged by even his own people around him i worry more about who is.