Keiser Report: Bitcoin Futures & Future of Cryptocurrencies (E1161)



hi I'm Max Keiser this says the Koz report yeah Bitcoin is skyrocketing up the charts heading into the five figure tens of thousands soon to be hundreds of thousands of dollars a lot of stories emerging you know Stacey it's amazing going back to the 2011 era when Bitcoin was $1 $2 $3 of course we were reporting it here on the kaisers report a lot of people would give me bitcoins at these conferences I gave a lot of people are lots of bitcoins I distinctly remember giving Russell Brand a thousand bitcoins when they were I think maybe two bucks a Bitcoin that's not worth 16 million dollars I wonder if he still has them some of them were these cassation scones and I don't you know it's just lost track it's like giving away candy at that time now of course they're worth something yeah we're going to as we approach the end of the year and do our retrospectives and look forward to the new year we're going to talk a lot about the history of Bitcoin what's going on we are recording this quite a few hours before the futures markets opened in Chicago so Bitcoin has become a huge massive international story everybody's hearing about it we're getting a lot of tweets and a lot of emails asking how to buy it how to buy it people are panic buying and you're certainly seeing that I saw a chart of buys versus sells and it's all buy is no selling there's nobody selling so you're seeing quite a basically a melt up and then rollercoaster down in you know so it's very volatile you we're gonna see a lot of volatility in Bitcoin prices as these futures markets unfold there's gonna be multiple futures contracts multiple banks all these banks are getting into it we are again recording this right before the futures markets open in Chicago so what's your prediction by the time this airs it will have already happened what's your prediction for how it will have impacted the price if anything I'm late Sunday early Monday I think we're gonna see upward trends because the business futures trading needs at their core a lot of inventory of coins so that I think as I've been saying get a inventory of coins on the books so that specialists and market makers can do their job in creating a price structure and price discovery but you need to have an inventory to do that remember I invented the virtual specialist technology patent number five nine five Oh 176 I have designed trading technologies and specialist technologies going back to 1997 and before that of trader on Wall Street traded options I was the third biggest options producer in the shearson lehman hutton system for many years and so now they're coming into my you know my territory tell us what my house so what do you think the futures mark is a lot of people are from the precious metals market who have been watching our show and what they always say is that the futures mark is the paper markets have driven down the price of gold and silver what do you think is going to have an impact or not on Bitcoin see what's happening in gold and silver is that capitals fleeing gold and silver and going into Bitcoin capitals fleeing fiat money going into Bitcoin capital is fleeing all these other debt red mass asset classes and into this new emerging asset class and therefore they've got this upward buying pressure people don't understand that at its heart bitcoin is a messaging app first a means of no they store a value second and a medium of exchange third the Satoshi white paper is a bit misleading because it leads off by calling Bitcoin digital cash that's kind of misleading it's not really digital cash until first it establishes itself as a messaging app money and economics are the history of communication and trade in language that's language explodes onto the scene trade explodes onto the scene messaging apps explode and exponentially onto the scene Bitcoin is similarly it's unique in this way it's an emerging asset class it's not quite a currency it's not quite a commodity it's not quite a technology it's a combination of all these things happening in this beautifully Cartesian elegant distribution of interests called the Bitcoin protocol and it's eating the fiat world eating the commodity world eating the technology world and it's going 200,000 200,000 300,000 a coin because there are listens what you got to do instead of saying what's Bitcoin in relation to gold in other words if it trades at $400,000 a coin it would be roughly equivalent to the total above-ground gold stock in the world you have to look at it in terms of Bitcoin as related to global debt it's not seven trillion in debt like seven China and gold there's 300 trillion in debt I did the calculations and that would imply a Bitcoin price of over two million dollars a coin to monetize that debt and to get rid of that debt okay fly we're flying through space and hundreds of thousands of miles per second why don't you know light it's the speed of light you know how can we discount that how can we be little that they put a man on the moon we can put Bitcoin to a million okay as you said many people called Bitcoin gold 2.0 if just as that just as operating as a gold you know proxy or gold of his own a digital gold as Bitcoin investor Novogratz has said that would equal four hundred thousand dollars per Bitcoin just to equal the size of the gold market which is over seven trillion dollars maybe the point years ago because yes this is what he determined the price would be is for exactly four hundred thousand dollars or so I get it okay I'm still asking you however what do you think the chicago futures markets we have CBOE that on sunday and then right after CME and then there are going to be Nasdaq Cantor Fitzgerald who you sold your technology to your company to a Hollywood Stock Exchange what do you think the impact will be on the price can they will it provide more liquidity will bring in more money will it cause more volatility will it provide less volatility what do you think will happen it'll create a bigger pipe for more money to flow into Bitcoin right now the pipe is about you know like this it's a relatively miniscule market compared to the bond futures the currency futures stock futures you know five trillion dollars or at the Forex per day is the market Bitcoin in that arena is a pipsqueak by expanding these contracts features contracts derivatives and bringing Wall Street Chicago into the mix you're taking that small straw which is an on-ramp for Fiat into Bitcoin and you're making it massively bigger and that on-ramp is going to suck in what I call the Bitcoin black hole it'll suck every piece of debt-ridden carcinogenic bull houki Central Bank Wall Street Bank Jamie Dimon will be sucked through a straw I mean imagine Jamie Dimon being sucked through a straw what'd he end up on the other and is a pulp of snot and degenerate you know derivatives derivatives imagine lloyd blankfein being sucked through a garden hose what ends up on the other it's a string theory it means to block the Bitcoin black hole you know if you enter a black hole it gets stringify spaghetti five it gets spaghettified imagine Jamie Dimon a Lauren blank line being spaghettified is they sucked into the Bitcoin black hole and they just turn into you know atomized pieces of deceit in the Hamptons looking for Matt Lauer and some underage chick you mentioned the size of the forex market and that's foreign currency exchange the foreign exchange markets so all that's the biggest market in the world probably by trade volume per day five trillion a day dollars versus euro versus yen versus you know British Pound I forgot the name of that little country their end of Europe that Stubb run by Theresa May so that's five trillion dollars a day one the very very first big day is everybody's preparing for these uh the futures markets open on Bitcoin they we saw twenty eight point seven billion in Bitcoin volume that had that was up from like five and a half billion over the summer so now we're at twenty eight point seven billion but just a tiny tiny tiny blip compared to the whole forex market a five trillion dollars a day I'm saying it but so is it the overwhelm you see this is people don't understand is that at its heart Bitcoin is a messaging app first store of value second and a medium of exchange third as a messaging app this is the history of economics the history of money the history of trade the history of evolution the DNA in ourselves of our bodies suggests that Bitcoin will be a lot higher because we as the species want to connect and its monetization of our unconscious it's the monetization of our collective unconscious it's the monitor it's what I call the psychic Equity Conversion the P EC we're converting our our consciousness and unconsciousness into a monetary medium of exchange through the the magic if you will as Steve Jobs would call it of a messaging app the Metcalfe's law of exponential growth and essentially there's law if you want to talk about economics for all you economic quants and dweebs and hacks out there look up there's law th ie rs law of good money pushing out bad ok the fiat money is going the way of the dodo this brings me towards the end of our show the last two or three minutes here before we go into the second half we had finished your second part of your interview with Randy bowler I do want to say max will probably be on our tea you know talking live as these up Bitcoin futures start trading yeah well or other news well hopefully or probably you're gonna basically see a lot of live news about the futures markets because it's gonna be a big impact and it's a big news and it's a big story but before that I want to turn to an interesting story that also happened on the very day that's every but the market started going wild and Bitcoin futures you know Bitcoin prices up at 5,000 down 3,000 up 6,000 down 2,000 when it was very volatile it was emerged that Saudi Crown Prince is by over da Vinci painting that sold for a record-breaking 415 million dollars says Wall Street Journal they got this information from the US intelligence community that it was the Saudi Crown Prince the same guy incarcerated those hundreds of princes and you pay for the banks don't know exactly but you know this is very old-school old world everybody's like wow that's the crown prince this is four hundred and fifty million dollars for a da Vinci painting just to put it that into context that's that is three Bitcoin pizzas at this current price is this three Bitcoin pizzas remember ten thousand Bitcoin were spent for two pizzas at the very first ever Bitcoin meetup right here in New York back in 2011 only two or three weeks later there was that Prague Bitcoin conference where you and I attended but that was just a mere three Bitcoin pizzas for this da Vinci painting yeah well absolutely and you know the entire market cap of cryptocurrencies is about 450 billion now approaching the half a trillion mark cryptocurrency market will of course top to trillion dollar level and hit the multi trillion dollar level again because it's this amazing quantum effect of pulling in all the fiat money into the into the crypto and Bitcoin black hole of store of value you used to be the only person calling for I remember there's some headlines back from 2012 or whatever Max Keiser says Bitcoin market will go to a hundred billion how wacky how crazy but now I tuned into the news or read the headlines and it's non-stop all sorts of names this guy says it's going for hundred thousand four billion four trillion everybody's like calling this well yeah do you Alan Greenspan was talking about Bitcoin in terms of the Continental which is I gotta go alright well stay tuned for the second half a lot more coming your way even George Galloway I gave George Galloway free bitcoins like in 2011 he's a millionaire multi-millionaire George do you know that stay tuned hi I'm Max Keiser this is still the Kaiser report you know I felt bad cutting Randy Fuller off last time he was on right when we were talking about free speech so it's my frickin show so I make all the executive decisions so we're having him back on right hey great to be back First Amendment yeah let's get into it Randy volar if you were still officially advising the Democratic Party how can they retake North Carolina in 2020 well first of all you know we got to put good candidates on the ballot and you've got to run someone in every race one of the past problems has been a failure to run candidates in all 120 legislative races max where do you find these good candidates like the Democrats seem to be obsessed with chasing the Russian hoax ghosts like they don't realize that dog don't hunt to use a southern expression well that really has no bearing on what's going on in local regional and state races what they need to do is focus on candidates that connect with their district but you and I have talked a lot about gerrymandering yeah tell the people about it that well gerrymandering is the ability for a General Assembly a legislature to draw the lines after a census for the districts and so what's happened and there have been numerous court cases in North Carolina's though the lines have been drawn were the politicians are essentially selecting the voter and not the other way around you know and no people will say to me well Randy you know you're partisan you're arguing now that you're out of power we're empowered the Republicans give us our time and I say look if you're if your values and your ideas and what you believe actually you know can you know are worth something then just make all the districts equivalent and let the chips fall as they may meaning that they're you know 50/50 races if our ideas aren't any good the voters won't vote for us but right now you have legislative and congressional districts that are way out of balance for instance if you have a D next to your name in some districts you're gonna win no matter who you are and same with an R and frankly that's just unamerican it's not fair it's not right it's not something there that is really good well set you said that instead of people choosing their politicians the politicians are choosing their voters yes in other words two gerrymandering they get together in a room and they say if we divide up the voting blocs in this way we know based on demographics and psychographics that we'll get X number of votes and that's its vote rigging so again you know this Russia gate hoax it's all about fake vote influenced by a foreign entity and yet gerrymandering is a clear-cut example of vote rigging right here it's happening all over America it's especially egregious here in North Carolina why don't they address that if they're so concerned about vote rigging because people when they get into the power they want to preserve their grip on power right now North Carolina is a purple state it's roughly a 50/50 state we've got 13 members of Congress it's 10 Republicans and three Democrats it should really be seven Republicans and six Democrats or seven Democrats and six Republicans right there you can see how egregious it is go to other states like Pennsylvania and you'll see the same effect these districts have been drawn in a way where the politicians are picking the voters with technology as it is now you can literally draw a line right through a bedroom and if the husband votes Republican on the wife Democrat that's what you get now you saw fair you've said in the past that North Carolina is really a petri dish of the American political landscape the whole and you have for example the wealth and income divide I believe is very sharply expressed to the largest degree of any city in America in Charlotte right yeah if you look at the indices that talk about social mobility we've got a couple areas in this state that are at the top of a very bad chart you know you mention Mecklenburg Charlotte also I think Greensboro the Greensboro winston-salem area are both areas where social mobility is particularly tricky now you know it doesn't take a genius to figure out that industry was wiped out in this state first you had the civil war that's just decimated much of what was happening here decimated wealth most of the wealth was actually in property what was the private property slaves right it went off the books and then you had the rise of some corporate in this industry with tobacco agriculture sweet potatoes number one sweet potato producer in America is North Carolina agriculture I think is 83 billion dollars a year in exports don't quote me on that but I think I saw that number while I was watching the local news over Thanksgiving and what other some of the other dynamics that are part of North Carolina as you see it from your perch as a political well we we lost textiles we lost furniture making we lost a lot of industries that were outsourced overseas whether they went to Mexico or whether they went to Southeast Asia and that really gutted parts of this state that were dependent on those good manufacturing jobs and of course when Big Tobacco went down and we lost that too I mean we're in Durham Durham was built by Big Tobacco Duke University was built by big tobacco people don't want to actually square that circle but that's the truth Randi the millennial Democrats have a radically different ethos to the baby boomer far more left-wing and far less suburban and more smart city foodie loving hipster localism as a mayor former mayor how do you attract this new generation well generally Millennials are interested in a sense of place they're interested in locality so you know farm to fork type of things or some people say you know tied to table you know locally sourced fish instead of getting it from a salmon farm and it's about quality of life it's about creating experiences as opposed to living in McMansions I think we're going to have a real tricky thing in our country as the baby boomers are downsizing and trying to offload some of these McMansions that were built in the 80s and 90s that were not very energy-efficient who are the buyers gonna be good what interesting they got here that I love a trout write it with pecans that's good it's really good let me ask you another question so the corporate Democratic Party is claiming victory with the recent virginia elections but many of the winners were bernie style right are the Millennials well and truly going to end the reign of the neoliberal democrats like hillary well I think the reign of sent of centuries and neoliberalism is already on its way out I mean sometimes the patient doesn't know it's dead yet really do you think that Hillary is dead well you know haven't you seen a body in rigor mortis can still kick so it seems as though we are in a post Clinton era I think we're moving especially with the issues with sexual rant harassment and the scandals we're moving into a post era for an awful lot of that generation not only in the Republican Party but the Democratic Party as well we're you know I'm saying 2018 is going to be the year of the woman there gonna be a lot of incredible women on the ballot and I think that women are going to play a role at the polls and reshape this country you've seen evidence of this already yeah there is a huge you could almost call it a tsunami of women participating in politics as a result in part due to this wave of sexual scandals women are saying I've had it enough this is our opportunity everyone's speaking up finally we have unity the problem with the women's rights movement in the past is that you didn't have enough unity there was always some shiksa ready to sell out her sister to become a supermodel but now there's so much sexual perversion out there particularly in Hollywood that there's of unity with that sense not since the suffrage movement you know rights for women to vote have we seen such unity no more rape no more Harvey Weinstein's and this is going to create a wave of political activism and females in politics Randi well you're seeing it by the election of Donald Trump I mean had Hillary won I don't think you would have seen such a virulent backlash but I mean his victory with his baggage connected to the other issues that you bring up I mean Weinstein obviously was a big player in the Democratic Party as far as a donor and all these others across these industries are being exposed and and women are saying it's our time we're tired of hitting the glass ceiling we're tired of you know pay in inequality we're tired of being a single mom trying to make it on two and three jobs and having a master's degree and not being paid I see it showing up at the ballot box and you know I applaud that yeah the men have had the ball for a long time it's time to give it to the women it's time to see you know what women can do most anatomically correct the men have had for quite some time it's time to give those to the women it's time to let the women get their share of the power because we certainly have made a fine mess of things absolutely and it can't be worse than it already is no it's not you know we've and we're entering an age in the economy that demands less actual physical strength because everything is digital so it's more about thinking of the cloud cloud thinking women are good in the cloud they don't have the whole sort of thing linear thinking like women can't really think linearly you know they'll show up at the you never notices at a tollbooth and they don't actually look for the change to pay the toll until they arrive at the toll booth I mean for a man that's very frustrating but for a women that's the way they think but I think now is the time to let that kind of thinking take over when I first got into politics I was the youngest on my board at age 36 and everyone I think of the time was between ages 50 and 80 but there were only there's only one woman it was an african-american woman and I helped elect her the first african-american woman ever in the history of Pittsboro and that town is almost 240 years old as I moved on in my career and got more women elected to the board you could see a difference in policy so having an equality of people on these decision-making boards across the country is important you can't have it all one gender or one class it's important to have people from different areas to provide insight in your community and I see that happening in 2018 2019 and 2020 and you already saw it in Virginia in 2017 more women on top that's what I said more women Randi that's gonna do it for this edition for the kaisers report with me Max Keiser and Stacy I'd like to thank our guest Randy volar do you want to catch us on Twitter it's Kizer report until next time bye y'all

25 thoughts on “Keiser Report: Bitcoin Futures & Future of Cryptocurrencies (E1161)”

  1. The elite want crypto dead. I won't spend any money on it. I'm going to just play The markets this way. https://qicommunity.weebly.com/cryptocurrency.html. If it crashes I'm not out anything. Might still make some money. Who know. It will be fun regardless.

  2. max needed to analyze further… when the futures opened there was a small spike. now a flash crash so they can buy it all up cheaper and then it will go 50k plus

  3. Watch and learn, how empire burn. As Crypto sets false things to right. Markets will now use the money they chose. And the big banks will fade like the night.

  4. Male feminists are slimy sneaky snakes in the grass. First chance fuckers like him get to take advantage of a woman they do.

    Joe Rohan summed these people up very well on his podcast.

  5. 21:00

    Ok white knight.

    Unequal pay myth has been disproven.
    No one forces women to be single moms.
    What has trump done to women? Made a hypothetical statement that women would ALLOW him to grab their pussies? Oh Woooow, how horrible. Fucking cuck.

    Have some respect for women and quit treating them like helpless infants, you SEXIST.

  6. Max I loved it when you said that you gave Russel Brand 1,000 Bitcoins in 2012, that would be worth $20,000,000 today, and how much next week?

  7. The banksters / gangsters HATE bitcoin they like to keep the people enslaved and get rich of them , sickening our system is so CORRUPT it's not even funny. The stock market is rigged , the system is rigged and no one does anything about it until BITCOIN came along …..

    Personal income tax is THEFT invented in world war 2 to pay for the war sure then left in place forever , everything we buy is taxed and FIAT currency just keeps getting devalued daily paper money is printed to keep it afloat sooner or later it will collapse and people wish they owned BITCOIN .

    The USSA has over 100 trillion of debt they lie it's not 20 with future obligations once that BEHEMOTH folds the rest will follow it might just be a good thing a new system ….. equality for all , and a new world in the process .

  8. Max, & Stacy. You're one bright couple. I thought the money in BitCoin would be in the BitCoin companies; not BitCoin itself.

  9. But if we using our real money to buy bitcoin and using banks to send it banks still getting rich!

  10. Max has done everything in life and even told satoshi how to write the white paper! That's why I love Max! Haha

  11. Keiser i wonder how come you still didnt understand that Bitcoin and all that technology is the bilderberg's pilot to one world currency. they will take control of crypto with laws and police

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