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tv   Boom Bust  RT  March 20, 2021 10:30am-11:01am EDT

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we lead the program with the state of bilateral talks between the united states and china taking place in alaska the 1st since u.s. president joe biden took office at that meeting top officials from both i've discussed what they hope to accomplish during these talks are going to straighten is committed to leading with diplomacy to advance the interest of the united states and to strengthen the rules based international order. that system is not an abstraction it helps countries resolve differences peacefully a coordinate multilateral efforts effectively and participate in global commerce with the assurance that everyone is following the same rules. today will have an opportunity to discuss key priorities both domestic and global so that china can better understand our administration is intentions and approach will also discuss our concerns with actions by china including john hong kong taiwan cyber
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attacks on the united states economic coercion toward our allies each of these actions threaten the rules based order that maintains will stability that's why they're not merely internal matters and why we feel an obligation to raise these issues here today. now while the groundwork of talks seems civil the 2 sides did take aim at each other's policy as the u.s. secretary of state criticized china's china for increasing authoritarianism his chinese counterpart accuse the u.s. of apocrypha see when it comes to human rights and other issues friday morning in beijing a spokesperson for the chinese ministry of foreign affairs weighed in on the dispute . however the u.s. side seriously overran the agreed time when delivering opening remarks made grown with attacks and accusations against china's domestic and foreign policies and provoked its use is not the proper way of hosting guests nor is it compatible with
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diplomatic protocol china has made a solemn response so. the 2 sides had a strong smell of gunpowder drama from the beginning in the opening remarks it was not the original intention of the chinese. and for more on this let's bring in bus co-host christine now kristie i mean we've heard so much in the news about the kind of spat that happened between the 2 sides during opening remarks but going into these meetings what was actually the expectation. well this was one of the most unusual meetings to say the least i don't think anyone expected to see this display the world just witnessed because it was initially meant to be a 4 minute photo shoot ended up lasting more than an hour as both sides just traded jazz on issues from u.s. china relations to concerns from washington's allies so reporters were actually told not to believe as both sides wanted to add their rebuttals so it was an immense display of passive aggressiveness on both sides and this time it was also
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the u.s. who threw the 1st punch again the biden administration's last minute sanctions came in mere hours before the chinese delegations were due to touchdown in anchorage which was a very sneaky move that blindsided china and ensure that there would be sparks from the very start of the meeting so i'm not sure that's what was supposed to be the u.s. is attempt at slack saying just to show that it can or if it was trying to sabotage the meeting on purpose so on wednesday evening new sanctions were slapped on 24 chinese and. state councilor wang you had lashed out and remarks saying that the new sanctions were not the way to welcome guests and ultimately no one expected too much to come out of these talks the hope was there would be at least more dialogue between the 2 nations after the trumpet ministration where a guy like just failed and they communicated through layers of sanctions and tariffs so i mean there is communication now so i guess the positive but whether it's constructive or not remains to be seen it was the original goal going into
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these meetings both economically and geopolitically. well the original goal was to create this opportunity for washington and beijing to set aside their differences and reset their relationship and as the world's leading powers hash out their new international order as i said so the u.s. is trying to jest china from a position of strength as indicated by their diplomatic choreography it's trying to send this message that the u.s. means its network of alliances as a key advantage in competition with beijing and the choice of holding the meeting in anchorage was very strategic as well it's on american soil also on u.s. terms and the timing of this meeting was also on the heels of the alliance consultations in tokyo and seoul as well so this was all put together in a nice fancy package to put together a show of strength and enhance its leverage against china so needless to say things got very sidetracked which is why the sanctions that the u.s. slapped on china hours before the meeting was also a very calculated move so at this level of diplomacy there are no coincidences
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every move is meant to send a message and this message was very clear that the u.s. will be continuing and transport steps to take a hard line with china previously we had thought that at least at the item in instruction things that the slightly predictable we wouldn't just wake up and see the market down $400.00 points because of a tweet that was sent in the middle or text on china so for the most part and let's all believe that there will be more predictability and order with the biden ministration and we won't get those nasty surprises but now the stench and show that the biden administration is continuing in that same vein of playing dirty so instead of going to last a far nicer extending pleasantries discussing the future the new goal for both sides seem to be getting a sense of where each side would stand on key issues so they can both take stock once a turning home to finalize their broader strategy for dealing and coexisting with each other co-host christi i thank you so much for following these meetings and we'll follow up on this next week on the bus.
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several european nations have restarted the role of the oxford university astra zeneca back so you know on friday after the blocks drug regulator found it was not associated with a higher risk of blood clots r t surely as more from paris. despite the fact that the european medical his agency gave astra zeneca a clean bill of health saying it was safe and effective some european countries all not convinced finland has decided it is not suspending the vaccine and will not be using it while it carries out investigations into cases over blood clots there's also been similar decisions made by new way denmark and sweden who will say that they need to do that investigations here in fronts they've restarted using astra
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zeneca but not only for those over the age of 55 which is a u. turn from advice that was received just a few weeks ago which said that the astra zeneca vaccine couldn't be used for those in old age groups so why the change of advice today well that's because the european medical's agency on thursday in its press conference i did defied possible increased risk of blood clots in those in the 55 and as such the french medical authority is being abundant be cool and saying. it's having it 50 full life now 1400000 vaccines have been given out here in front many of the different health workers many of those under the age of 55 now in limbo wondering whether they will receive the 2nd job all of us treat seneca the prime minister here in france trying to allay concerns they he had the job he's 55 say he's not going against the country's medical advice but this now also raises questions.
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trusted this is the european. monitors medicines that approved medicines this is the country's trust recommendation but it seems now the countries aren't satisfied with the decision by the day in the doing the investigation none of that well other time when you are facing a. 3rd wave of the pandemic and we're being told that there are enough vaccines going around let alone people may say i don't want vaccine but i will have this one. in paris. for more u.s. states have joined a lawsuit filed in texas against google that alleges the search giant broke and interest laws to enhance its advertising business earlier this week texas attorney general ken paxton said alaska florida montana nevada and puerto rico joined the
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lawsuit bringing the total number of plaintiffs in the suit to 15 states and territories for more on this let's bring in your she's an associate attorney with levon papen tonio rafferty sara thank you so much for joining us today. thank you for having me on i want to start with this lawsuit tech giants face so many of these suits lately what is this one actually specifically about. well states are finally pushing back against tech giants like facebook and google here we have google wrapped up in a scheme to monopolize our private information so what google is doing is pushing out 3rd party vendors and businesses that are used to track information that we use for advertising so in theory that sounds good it might sound like google's trying to protect our privacy but in reality what it is it's a disguised method for google to have sole control of the ability to track and profile every user's information on a web browser so what google is doing is monopolizing our private information by
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pushing out other advertising and data competition and that's why states have filed these cases against them and why are we seeing more states jump into this does that actually strengthen the plaintiff's case. we're seeing state step up because these tech giants are simply overstepping understand that if google monopolizes are private information then they have full control over what they advertise how they advertise that information to us and other words without competition in these realms google has complete control over the message that they perpetuate to the public and states are finally realizing just how powerful these tech companies are becoming and that they're trying to put a stop to that monopoly that google or google have over all of our information so it's not necessarily going to affect the strength of the case but it's certainly going to provide momentum in the court as this litigation moves forward you know as i said there are a lot of lawsuits that are involved i mean these are giant companies big tech giants and this one less to do with privacy but a federal judge on thursday actually refused to advance a class action lawsuit against facebook accusing the company of hurting
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shareholders with a lack of diversity on its board what exactly is that issue and what is this judge doing. right this is just another sick attempt to take a stab at detection and it's great you know the plaintiff has alleged that like you said claims like discriminatory hiring practices failure to curb a hate speech it was dismissed based on a few procedural d. facts but the point of this the takeaway is that there is a reckoning coming for these tech giants tech giants psychical they're simply abusing their power and people are finally speaking up about it so this can be very interesting to see how all of this litigation progresses and i'm certainly going to be following it very closely sara papen tonio of levon patent tony rafferty we will have you back to talk more about this thank you so much for your time. and this week markets were largely down as oil prices slipped bond yields rose in
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uncertainty over the astra zeneca vaccine through new doubts into a quick european economic recovery we start in russia where the mo x. is down for the week rising tensions between moscow and washington are putting downward pressure on the ruble at the same time brant crude prices have slid back from march highs of around $71.00 per barrel moving to asian markets the shanghai composite it's also in the red for the week the exchange followed wall street is rising by a mule to put a damper on buying the u.s. 10 year teano rose to a january 2020 high of 1.72 percent now this bond yield pressure was a recurring theme nearly across the board however in hong kong the hang seng was able to squeak out a green arrow friday's slip was not enough to erase mid week gains made by chinese phone maker shalmi after it won a legal battle here in the united states in japan the nikkei is in the red but barely the index fell 1.4 percent on friday when the bank of japan announced it would only buy e.t.f.
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linked to the topics index the market was also pulled down by nikkei heavyweights fast retailing and softbank group which slid at the end of the week 6 point one and 2.4 percent respectively. let's move the india where the sensex is also down indian equities fell to mark 6 days of losses as investors continue to watch bond yields here in the united states those bond yields can hold back foreign inflows especially from institutional buyers over to australia where the sex it continues or downward trend the index dip point 6 percent pulled down by b. age group and commonwealth bank this was on top of the new report showing retail sales in the country were actually down 1 point one percent last month due to new covert 19 restrictions in south africa the all share is also in the red there's another push in the country to shore up government finances trying to avoid a credit rating cut as borrowing costs rise however public sector unions are pushing back as consumer prices also continue to surge now let's move over to
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europe and the americas in the u.k. the footsie is down falling point 6 percent as the market followed the sell off on wall street late thursday now this despite the bank of england following the u.s. federal reserve in its pledge to keep interest rates steady for the time being now the german dax is up while the french cac it is down oil prices took a hit falling back below $60.00 per barrel the decision by a dozen countries to restart the rollout of the astra zeneca vaccine did help just a little bit on friday in brazil. is up a record number of cope with 19 deaths prompted health a visual to warn the country is facing the worst crisis in its history which could lead to a collapse of the health care system while the government is calling for renewed lockdowns produce brazil's industrial confidence fell another 4 points reaching its lowest point since august 2020 in mexico the b.m.v. it's in the red despite the announcement from the u.s. that it plans to send 2500000 doses of astra zeneca the vaccine in the coming weeks
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mexico's government also pledged to absorb the regular debt payments from its state run oil company pemex which has more than 113 $1000000000.00. in financial debt here in the united states all 3 major indices well they're down this week this week the federal reserve said it would stay the course with its bond buying program and low interest rates how wherever a rule allowing banks to hold the less capital will not be extended all of this continues to drive inflation fears and the 10 year yield which some are predicting could head to 2 percent and finally in canada the ts sex it is down overall stocks were hit by a decline in commodities and jobs which also fell in the nation for the 2nd month in a row over $100000.00 jobs were lost in february due to a lack of hiring in hospitality trade and construction now in the coming weeks we will continue to watch u.s. bond yields as well as vaccination efforts as they look to drive recoveries across the globe and that these are global market walk. time now for
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a quick break but when we come back because it's not too far off its recent record price we'll dive into the recent rally and what the future of financial technology could be in the coming years that's going to break through the numbers of close. always be polite never engage with the negative a good or constitutional. don't get into any conversation or start answering questions just ask for an attorney.
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definitely don't want to want to try. one. you're more likely to walk free if you're rich. or if you work. you've got 2 eyes 2 ears and one mouth. so you should be seen here and a whole lot more than you're saying if you don't take that advice easy going to dig yourself. the spoken to be published say me africa see we've seen you know data from the. chinese i've seen like any other vaccine if the data holds all you can call them a line the basis of that statement. i would say to those people you mean the scientific basis or if the vaccines are given that from a scientific or medical problem we shouldn't be interfering with the process if
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it's all. and welcome back with russia and china among the countries working to take their currencies digital the u.s. is now looking to get in on the action federal reserve chairman jerome powell said the u.s. is working with other members of g 20 alliance to produce central bank digital currency if that could be used globally the fed chair says the coburn 1000 crisis was brought into. even sharper focus the need to address the limitations of our current arrangements for cross border payments the c b d a c b d c needs to co-exist with cash and other types of money in a flexible and innovative payment system but he noted that the goal is to for those new digital currencies to co-exist with cash and other types of money in
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a flexible and innovative payment system as the federal reserve bank of boston collaborates with mit researchers to explore the future of digital currencies powell says he wants input from policymakers private sector participants and academia he confirmed that the creation of a digital dollar is a high priority for the u.s. and earlier this week because it hit another record over $61000.00 now think of this the last year has been just incredible growth for bitcoin for context you will remember that in march of 2020 because it was sitting at around $6100.00 for more on the future of the world's most popular cryptocurrency let's bring in dan how these the director of business development director of business development at crack it now dan for the last year on this show we've talked about whether bitcoin could hit the $100000.00 mark and as time seems kind of far fetched but today it only seems inevitable but you think you can go much higher than that right. that's
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right so when we look at the queen's total total addressable market this also known as 10 m. right now because it is only worth a trillion dollars if we take all the big quinn existence and multiply it by the price a trillion dollars is actually quite small when compared to other store of value assets that's what pickwick is competing with when we look at gold all the gold in the world is worth around 10 trillion dollars and if we look at other store of value assets like all the money in the world and all the software bonds and all the real estate which real estate is used as a store value asset i think the coin is very underpriced so big corning even at $100000.00 a bit coin i still think hasn't touched upon its premise as being any store of value or gold $2.00 style assets so i think there's a lot more appreciation from here and how high do you think it could go are we talking about hundreds of thousands or even a $1000000.00. well it depends on when that could occur and depends on what the real world value of that might be in today's dollars i do think because it
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eventually over the next 4 years probably gets between somewhere in a quarter 1000000 and a $1000000.00 per bit cording which sounds so crazy given that when i 1st got into it it was only worth $10.00 but because it is being recognised by the world as a gold 2.0 we've got tesla square purchasing because to put it on the balance sheet we've got all the top all the top macro traders in the world and investment banks recognising the corner as gold $2.00 so these numbers might sound large but they're not that far fetched no damned if stimulus checks actually go out a yahoo finance harris poll i should buy that 7 percent of people are planning to use that money to buy cryptocurrency including bit coy can we expect this to continue to drive the price up in this recent rally or is the recent rally really about institutional dollars in the space right-o. . great question and there's certainly a mix of retail and institutional in currently when we look at how it's queen b.
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says s. one filing their numbers indicated that institutional volume is a very large percentage of their volume and i can't comment publicly about crack and numbers cracking as the exchange that i work for crack comes the number 2 crypto exchange in the u.s. and number one in europe just to give people a sense of where i'm coming from here institutional money is driving me to rejoice at the price action but retail isn't minuscule retail is still a very healthy percentage to where i don't think we can discount that 7 percent poll number i think that number will have a very real impact and now when i actually reached out to you to book you on the show we want to talk about this next topic there is a lot of talk about energy consumption due to bitcoin mining and as the price goes up we see more in the mining sector bank of america research actually shows energy consumption of bitcoin miners is on par with major companies like american airlines and even the entirety of the united states and government now this is miners set a daily record on the 14th of march making $64000000.00 in just one day mining so
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what do you make of these energy consumption concerns and the impact of the environment at this point. great question also one that a lot of people focus on the queen's energy consumption is easily lead to still it's very easy to understand exactly how much energy the current users because the network gives you a certain value that you can identify as the energy consumption when we compare because energy usage against the existing financial system i mean the existing financial system is massive if you've got bank servers you've got big retail bank branches in the energy required to build those and you've got the court systems and you have the department of defense and military that enforces the power of the u.s. dollar to depart u.s. department of defense is the largest energy consumer in the world all of that is intertwined with the existing financial system so because energy consumption relative to that is quite efficient if we look at the corn is this new financial system now at the core root of this argument ultimately is that people don't like it because energy consumption because they don't think it's doing something
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valuable i think that is easily debunked but corn is doing something very valuable for folks across the world you can store value in it transmitted to anyone else and that is a great utility so because energy consumption is doing something good and now that somebody is kind of close to my heart because this crypto prices have gone up there's been an and credible shortage of actually computer hardware related to mining mostly consumer grade graphics cards often used for gaming and high consumption power supply which is really upset consumers looking to get their hands on say a new nvidia 3000 series g.p.u. or the high powered power supply unit that actually power those does the industry have any answer for this or are they just tough cookies for gaming and if like myself. basically tough cookies is the teal the are on that with big coin because we need 6 which are application specific the coin minors those don't necessarily compete with the graphic card graphics cards and the e g p you mining that occurs for other types of crypto currency so the folks who are stealing away those graphics cards from you those aren't big korean miners
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those are miners and other types of cryptocurrency. and held i hope we can have you back excellent conversation director of business development at cracking thank you so much for the excellent insight today thanks for having me cheers. and that's it for this time you can go to boom bust on demand on portable t.v.'s which is available on smartphones or tablets through google play and the at webster or by searching portable t.v. to be can also be downloaded on a newer model fan so smart t.v.'s as well as a broken device is simple check it out at portable t.v. we'll see you next time. boris yeltsin. go back and look at your history.
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oligarchies flourished under a guy who is barely able to walk down the street here we have in the u.s. somebody is cognitively impaired that's pretty common wisdom over seeing the rise of american oligarchies assisted by 0 percent interest rates that allow for the top to kratz to 0 and all means of production. i'm going to trust my friends who can close to you. because in progress bringing. i mean yes that imply mean that you think that those. who are. not stupid and you can do not sound like you have most of them still can always. keep the peace keep things off the beach and thinking about it
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a us must do nothing if you nationally precise. and yet issue a can boy get him in the new i'm good and i still have a new. beer is no secret that. ya'll blog a 6 all extremists all of which i don't know much your purpose for falls. from the top of that if you should get a bill be you i gave a review. in the store and. amazingly still i can be of night. easy work and let him know that you. join me every thursday on the alex so i'm unsure when i'll be speaking to guest of the world of politics sports business i'm sure i'll see you then.
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one of the worst ever mass shootings in america was in last vegas in 2017 the tragedy explodes a little of the real last biggest where many say elected officials are controlled by casino owners these days shooting reveal where the l.g.m. p.d. really is and now it's partly because finishing 1st in the american public barely remembers that happens just shows you the power of money in las vegas the powerful showed that true colors when the pandemic hit the most contagious contagion that we've seen in decades and then you have a mayor who doesn't care so here's care i goodman offering the lives of the vegas residents to the control group to the shiny facades conceal of deep indifference to the people could have been saved if they were taken action absolutely key to registering and machines doing they use is a money machine is a huge cash register that is ran by people who don't care about people's lives
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being lost. is your media a reflection of reality. in a world transformed. what will make you feel safe. isolation or community. are you going the right way or are you being. direct. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or remain in the shallows.
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breaking ranks with the european union. even if. joe biden says that the rise in hate crime against asians in america. but the mainstream media also. t.v. networks in the us. from the white house. seeing its.

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