Skip to main content

tv   Boom Bust  RT  July 27, 2021 1:30am-2:01am EDT

1:30 am
process when you're using anything online, but we're sold as this miracle of automation behind your screen. it's a ruble work force that seems algorithm is for next to nothing. on a very good day, i could do $5.00 now. a really bad day. i could do 10 years where it says removable by design. it's about labor costs, but it's also about creating layers of lessening responsibility between those who solicit the kind of work and need it. and those who do it the better boom bought the one business show you can't afford to miss some branch of boring washing things. coming up, the crypto currency sector has begun to rebound after muslim. bad news. straight
1:31 am
ahead. we take a look at the rally. what's driving it, then we take you across the atlantic, where the united kingdom is thing, a surgeon alerts from the ne, just over the tracking app. in the wake of lifting restriction, we'll take a look at the potential economic fall out from a fresh web 14th, known as the ping damage. and high level officials from the world to largest academy have held the latest round of this time in china later on. going to break your, give you the details of the quote tense negotiations and what role the front of cybersecurity is playing on the political de facto today. flip dive right in and we leave the program with a big 24 hours for the world's most popular crypto currency. after what seemed like a month long spiral for bitcoin, that appeared to be one set of bad news after another. a possibly huge and now it's been over the weekend said the coin price surging by more than 12 percent. and anonymous insider at amazon appears to have leaked word that the
1:32 am
e commerce giant will soon begin excepting bitcoin. and may even have plans to develop its own token. the news was all it took to catapult the price over $40000.00 by monday afternoon, which is the highest has been in 6 weeks. so why has a rumor moved by one of the world's biggest e commerce giants had such an effect on the crypto currency that had struggled since hitting all time highs over $60000.00? well, joining disgust by co host, ben swan and chris the i that you both for being here on this important topic of ben. i want to start with this. can you explain what this amazon insider said? can we take that report actually seriously? well, i think we can take it seriously only because, and i let me say about this as well. i've been hearing about amazon potentially taking big coin now for over 2 years. this is something that's actually cause of the big coin in the crypto market to jump several times in the past. but there were
1:33 am
rumors that amazon was going to do this. now it started out because a reporter with city a. m and seattle apparently found some job listings on amazon website. those job listings were looking for block chain developers that's pretty suspicious. and then they talk to an insider again, an anonymous source who supposedly told them reportedly said that amazon is looking at very soon beginning to accept big coin as well as potentially 8 other crypto currencies including the theory and possibly cordano, including big point cash. so there are several, several of them, and then over time amazon does plan to eventually, as you said, release its own token, its own coin. so the likelihood of this happening, i think, is extremely high. the question is that i have is why hasn't happened yet? as i said, for years i've been hearing at least 2 years that amazon would be doing this. i'm surprised. they haven't done christie. i mean, to been point here. why did this news have such a big impact on bitcoin price? i mean, after all, it actually doesn't do with any of the issues that seem to have been driving
1:34 am
bitcoin price down, over the last 6 weeks and beyond. well, it has a huge impact because it basically just turn the tide of sentiment, because over the last 6 weeks, all we have was a slew of bad news. first, we had the nonsense with isla mustang. that big went back for the environment. and then we had china cracking down and forth all of the minors to relocate. and we kind of address all of these issues that most of this was kind of a nonsense news and just a temporary drop because the miners, they're forced to cash out a little bit in order to get money in order to relocate and to set up their entire operations again. so most of it was kind of a no news, but the point has been in a slump because there have been absolutely no positive developments. recently. the only thing that we were hearing was that hey, more regulation is coming and more taxes are coming potentially. so because of that, it's kind of been in a slump. so this news today it came on expectedly. and because we had this continuous flu of bad news, a lot of trade for actually position very bare. actually there were a lot of shorts out in the market and that's what led to this join army pop today.
1:35 am
all the shorts were basically forced to cover and they were forced to buy it incrementally higher prices. and that's what was responsible for this huge gap up, basically, him tremendous short squeeze of the market and a tremendous shift in the tide of the market momentum. so essentially, $950000000.00 worth of shorts got blown out and pop today on monday, which is the largest volume since may 19th and bed. i want to go back to what you mentioned there. we mentioned in the intro, you mentioned it in your 1st point here is part of the report indicate the amazon is considering developing its own crypto currency. how likely is that to happen and why? so you know, i don't really know how likely it is to happen. i would have said a couple years ago. it is more likely than it is today. i believe that someone like jeff will look at crypto currency and say, hey, rather than just accepting 8 other crypt, correct things were 10 or 12 or 50. why not just make our own crypto currency? and so i can the rule the world expects for someone legit basis to think that way.
1:36 am
it makes me think of another tech type mark zuckerberg. right. he tried this also remember the libra association and we saw the libra token, but what was the problem with that? the problem was that banking regulators got involved. and what i think mark zucker berg found out, and i think what jeff diesels will find out is this is a much more difficult game than they think that it is. and part of the reason why is because when you do this, you've got the fcc bringing down your neck all of a sudden and trying to determine whether or not you've created a legitimate token, whether it's a utility, whether or not it's the actual security. there are a lot of questions that's around on the trip to currencies. and if you're already one of the richest people in the world, it stands to put some of the other things you're doing at risk. if the fcc starts to create pressure, i think that's why facebook stopped doing it, and i don't not sure that amazon will start doing well to that point when you look at something like bitcoin completely decentralized crypto currency,
1:37 am
not really sure who invented it for sure. so that makes it completely different. they don't have to face the regulatory scrutiny, at least in the launch where amazon, one of the world's largest companies, certainly will right away. also, i think facebook for sure, they don't really sell anything and make much more sense for amazon to do that than facebook. so, christie, to that point? why did we see a mark zuckerberg pretty much abandoned his plans for a supposedly game changing libra association. do you see amazon is more likely to succeed and duck in this space? i think if you actually tried, i think amazon would have a lot more success because tier point facebook and what that their social media companies. so to add a payment component to it, it's basically reinventing venmo on facebook doesn't make a lot of sense. but for amazon to do that, they have one of the biggest market places ever. and this would essentially be copying alibaba because ali baba has their alley bucks, and that's been a tremendous success, because you can use allie bucks to directly pay for items on their market,
1:38 am
plays and receive discounts for using the payment of that platform. so for amazon to do this, i think it's very smart. a do i like it? not really, because then it kinda sucks us into the giant. norma's amazon centipede, where you're shopping with amazon managing and life with amazon. alexa, eating with amazon at whole foods, basically doing everything amazon and now banking and payment with amazon. so it gets like into this very dangerous kind of monopoly thing and to burn flint, i think they're going to base a lot of regulatory scrutiny here. just like facebook, but i think the difference is how they define the scope of this coin. because facebook was a little over ambitious with their lever project. they said they were going to create the currency of the world. and it was very ambitious and they had absolutely no plan out how to do it, but regular here, this and they get all freaked out being like you can't do this we, we have control of currency, not you, not tech companies. but if amazon wanted to do a model, similarly to how alibaba do with ali bucks, i think they'll have an easier time because essentially to say, hey, we're issuing
1:39 am
a coin, uses coin to buy things on amazon marketplace. it's essentially like a gift card, not really any currency that's going to disrupt politics or anything like that. so if they frame it that way, i think they'll have an easier time with regulators. right. and so essentially that makes it a virtual currency rather than say, a crypto currency boom bus bent swan and christie. i thank you both for your insight today. thank you. it's been one week since freedom day in the united kingdom at the nation. took a major leap was returning to some sort of normalcy, lifting nearly all remaining coven related restrictions on public life. and now it seems a so called ping demick could have a major impact on the newly reopened economy. the u. k. is using a track and trace at by the national health service, which calls for so by felician, if you spent time close to an individual who later tested positive for coping 19. and now there is a growing concerned that the ping demik. i'll keep saying that word ping, demik could cost the nation's economy $6300000000.00 in just for weeks. if rules
1:40 am
related to the app aren't relaxed according to data from the center for economic economics and business research. the guardian is even reporting that some companies are saying 15 to 20 percent of their staffs are absent due to isolation guidelines, while insult by felician himself last week, prime minister boris johnson was asked by parliament about the government's handling of the app and tracing. everybody understands the the inconvenience of being being pinged as you writing says, you're, i'm, i was, i was with you in the, in the, in the comments chamber today. i apologize to everybody in business talking dog. i did all kinds of services, public sector or otherwise i who are experiencing inconvenience. and for more on this, let's bring in hillary for which the board member of the british american business association at present, a strong mark business development consultants. hillary, thanks for being here. as always, thank you brand. alright hillary, i want to start with the basics. ok. so what did you,
1:41 am
how exactly does this app work and why are so many people being pinged in the u. k right now? right. so it's actually brand an algorithm on one smartphone and how it works. it works fine. bluetooth technology that was developed by apple and google. so what happens is that when somebody registered, it is anonymous, they into the post, it's quarter postal code in the u. k. not a zip code, but they also enter in, obviously in allowing their bluetooth to be activated. therefore, anybody within a 60 radius of them for more than 15 minutes is then trace and where they go is traced the entire bluetooth ecosystem resonate throughout all of the phones. so if you're within 66 feet, and within 15 minutes someone who test positive you are then pinged as a potential for carrying the virus. and this of course is resulted, as you mentioned, and you just said not to just leave it truthfully. the ping demick because multiple people, hundreds of thousands of facts over 600037 have been pink in the last couple of
1:42 am
weeks. so it's a vast potential of the population. all right, and so i want to go to the economic angle with that $6300000000.00 over 4 weeks, which is could happen, which could affect the economy. of course, think about this, the, the delta very, the bit isn't appear to be going anywhere. so 4 weeks is just a small sample size for what may be the case here. so how is this going to take a toll on the academy? what types of workers are being affected right now? well, it's interesting for us to know say globally, because the u. k is being viewed as sort of the canary in the coal mine because we have to see what's happening over there. so what sort of happening every kind of business really, brent and actually, ironically, versus the cobra pandemic. there are more shortages more quickly because of the staff shortages. that's what's causing that. so for example, let's just pick one sandwich, a chain petro. marcia has co, 17 locations, b, p 's per tote, b petroleum, which is gas in people's cause, or they've cose multiple sites due to staff shortages. so pumps, anything recreational, any postal services. so heck out supermarket chains,
1:43 am
restaurants, anything where there are people in bold, they're having shortages and even things like the nissan plant and the rolls royce plant, i've had to slow down because they're missing so many staff members. and so it seems like after lifting all of these restrictions, things have almost gone back to where we were last spring and summer where so many things are shut down this time only because people are forced to self isolate rather than the social distance thing that we looked at before. now we've heard this could have an actual major effect on supply chains as well. how so it with a supply chain to do to the stop and what's happening is because the staff can't show up on like actually cove. it, we're actually, although the number of the people were testing positive, a lot of people still were at work you're finding is people aren't able to go to work because they have this 10 day isolation period. and by the way, i wanted to add that you asked me how it worked. if one does not do what the and it just says, which is your pink and then you make a phone call. you can be fined up to 10000 pounds. and since the pound is it about $138.00, that's about $13800.00,
1:44 am
so not many people want to throw that kind of money away. so the reason it's affecting the supply chain, brent is because so many staff members are out of the supply chain and that's what's happening across the u. k. there have been supermarket shortages and what they reckon it is due to as people are now panic buying on top of the staff shortages. and that is putting obviously of spanner in the works for the entire supply chain. well. and while things were locked down, you can kind of anticipate who wasn't going to be there. they were going to work from home and things like that. and now obviously you're given one day. notice if that to say, i won't be there tomorrow, and i won't be there for 10 days because this is what's happening. i can see how that's having a huge effect now quickly here, before we go, the energy is also please asking britain to please, please don't delete the app. don't turn off your bluetooth tray thing. don't turn off your location tracking because we need this app to work. otherwise, we're really not going to know what we might have a bigger pandemic on our hands here again. so what about that? is there concern there that this next wave could get even worse? yes, and i will tell you though,
1:45 am
what's your 1st point about the app and then asking people not to delete the app. a you gulfport poll last week, found the one only $1.00 and $5.00, or actually even using the app at least 10 percent across every age demographic has turned it off and or turned off their bluetooth. they might have the app but they've turned off their bluetooth. so it makes it look like they're sitting at home diligently, but really they're doing lots of things. so i don't know that the app is even really effective. that she a scary thing if you think about it, because it has that many pings. and so many people have turned it off. that's actually even scarier. so in terms of the big picture, what does this mean? actually, the delta virus is supposed to be more contagious, but not as deadly. and certainly they haven't been as many hospitalizations at this point. so at least currently right now as we stand, there aren't as many hospitalizations and it's not for you to be as deadly know as impactful as covert taylor, florida to the british american business association. thank you so much radical clarity to this conversation and time now for a quick break. but when we come back,
1:46 am
chinese and us officials have held there more crucial meeting since their talks in alaska earlier in the year. straight ahead. we bring you up to speed on the talk and take a deep dive into what role cybersecurity has in their relationship that are going to break. here are the numbers that close the the who's ah ah, look forward to talking to you all. that technology should work for people. a robot must obey the orders given it by human beings, except when the shorter that conflict with the 1st law show your identification. we should be very careful about artificial intelligence. at the point obviously is too great truck rather than fear i was like,
1:47 am
take on various jobs with artificial intelligence, real summoning with a robot must protect its own existence with the media reflection of reality the in a world transformed what will make you feel safe for tyson lation community. are you going the right way or are you being direct? what is truth? what is in
1:48 am
a world corrupted. you need to defend the join us in the depths. will remain in the shallows ah, in the the the welcome back tension between the worlds 2 largest academies remain contentious as china in the united states have wrapped up their 2nd route of high level talks during the by the administration. the us delegation led by deputy secretary of state, wendy sherman found itself at odds with its chinese counterparts, which said the relationship quote is now at a stalemate on a host of issues. the disagreements between the 2 sides encompass topics from
1:49 am
sections to detained while way. cfo main ones though, is it all in the remedial with china urges us unconditionally withdraw restrictions on chinese communist party members and their families don't withdraw. sanctions on chinese leaders live restrictions on chinese or stop suppressing chinese inter withdrawal designation of chinese media and as foreign agents withdraw the tradition request for being one. joe. we also expressed strong satisfaction with the us regarding the wrong words and actions on issues such as hope at 19 origin tracing. now hi, the taiwan who is in jane hong hong kong in the south. we demanded the us immediately stop interfering and chinese internal affairs, sub damaging china interests, stopped stepping on red lines and playing with fire or engaging in provocation. and the growing rift between the 2 sides now involved cybersecurity after the u. s. and allies acute hackers tied to china, the ministry of states, security of breaching microsoft exchange email servers earlier this year. and
1:50 am
allegation, the chinese government flatly denied last week. for more on this, let's bring in touch with the cybersecurity expert and president of dark intel. always a pleasure to have you on todd, i want to start with. they were really focused on these discussions, but cybersecurity is starting to play a big role between the 2 side. how important is cooperation between china in the u . s. on cybersecurity after what happened last week. well i think walk, reach is gonna be important, but it's a one sided cooperation. the chinese and never cooperate with us. truly were faithfully when it comes to any of these discussions about what the new year want be. that's all about what china needs. it's never about the cooperation with the rest of the world. the united states is trying to represent, you know, the rest of the world in these, these talks. but they're not really getting anywhere be, is trying, is not going to comply with anything we want. todd not that is not that i books you to talk about geo political tension solely between china and the united states here
1:51 am
. but i do have a question on that. what responsibility does china, who is on the other side of the world from the united states, is a straight up competitor as the world's 2nd largest economy, which many believe will become the world's largest economy. what responsibility do they have to basically do what the united states said? well, they have no responsibility and they're certainly not taking to heart anything that we say because they're refusing everything we do. we've arrested some other citizens and they're complaining about it. we know that those citizens have done things that are legal in this country, but they don't care. and so their responsibility to the world is probably a big one. if they truly believe that they were a partner with the rest of the countries in the world. but they don't, they want to do it in the best interest of china and that's it. and on the same no, bloomberg is reporting the baton registration, has no plans to sanction china for the microsoft exchange hack thing. it wouldn't be as effective as other action. you know, i know we've talked about this a lot todd, but what can the u. s. government do as recourse against what they characterize as
1:52 am
state sponsored cyber attack? well, the current administration is taking this, this tactic of naming and shaming. and i don't know that that's necessarily effective. i think there has to be some global of international look at what the chinese are doing. and we all collectively, not just going to states, need to take some sanctions against the chinese for what they're doing. because the microsoft, it was not just in united states, it was all over the world. you know, they got into servers all over the place and they're collecting their intelligence . and they're, they are leaving footprints that are identifiable as belonging to the chinese communist party and their, their employees. but the rest of the world's gotta step up and complain and take action against you can't do this loan. and i just what i'm sorry to keep playing devil's advocate with you here, todd, but last week also when this whole thing came down, the chinese response was we flatly deny that. you know,
1:53 am
this is not government sponsored by any means, but then they also went on to point out that essentially the cia is always doing hacking operations in china that affects their economy that affects their business that affects national security. what do you say to that? well, i mean if they're doing their job is doing that. i don't know that for fact, but i would assume based on what their, their mission is that they, they're doing it. the problem is the chinese got caught, the cia hasn't gotten caught, and that's the big difference. and so they just need to deal with the fact that they got caught and move on. and last week, a spokesperson for the white house actually, security council actually said president biden and senior us officials are going to meet with business executive in august to discuss how they can quote, work together to collectively improve the nation cybersecurity. what are we hoping to come out of this? is this still about reporting hacks? and again, i know i harp on this a lot,
1:54 am
but what can be done to cut down the recent rash of cyber attacks? ransomware, hacks, whatever you want to call them, what can they do? and how is a conversation between the white house and someone like microsoft or colonial pipeline, or could say, how is that going to change anything? well, i don't think it's going to change lot because i think just having the conversation is, is not putting forth the necessary changes within the government and or these companies . i think what's going to change things is starting to proceed. i said this some time ago that there's going to be legal changes by congress. and congress was introduce some bipartisan bills to start effecting these companies and how they do business when it comes to cyber security. and i think that's the only thing that's going to change the industry is that the c e o and the c u sweet personnel have to be held responsible for these problems and right now they're not. and how can they be held responsible, just say fining businesses like microsoft when there is
1:55 am
a mistake like this or colonial pipeline for you know, creating i mean not to say it was all their fault by any means. although it was a backdoor that they had the hackers were able to get into which created a shortage across the east coast. of course that was due to panic, buying less due to lack of supply. but i mean, what can they do that? well, i think if we look at what we've already done, you remember with the enron, after enron and the problems out of that with the executive levels. they passed sarbanes oxley enforced the executives to be responsible for things in until we do something similar. i think with cybersecurity, which is i think, far more important than stealing money from their company. the cybersecurity issue affects all of us. it's not just the investors in that one company. and so i think until they pass something like that, we're not going to see it effective change then how so is cybersecurity is handled within these companies? absolutely. cybersecurity expert, todd chevy, thanks for putting up with me today. i always appreciate having you thanks.
1:56 am
and finally, one of the biggest concerns for adoption of electric vehicles has been when and where do you charge them? now, while it's understood many people could charge at home or at charging face station strewn throughout town. let's be honest, that falls short of the convenience of a gasoline powered vehicle were you just take it to the pump? now the indiana department of transportation has announced a trial of a new type of cement with magnetized particles imbedded that could your vehicle while you drive along the highway. now this isn't a particularly new concept, but in this test, official say it could provide high speed charging at standard road building costs. the state has partnered with pretty university and german company management. that's right. magnets and cement on the project. while there will be 3 stages, 1st testing, if the magnetized submit will work in a lab, then building a quarter mile section of road for further experiments. and if all goes well and the final stage in doubt would implement the technology on
1:57 am
a section of public highway in the state. and that's it for this time you can catch blue bus on demand on portable tv available on smartphones, tablets, through google play in the apple app store by searching portable tv. portable tv can also be downloaded on newer model. samsung, smart tv and roku devices, or to check it out at portable dot tv. what's the next time on boone by me when i would show the wrong one, i'll just don't rule out the thing because the after an engagement equals the trail, when so many find themselves will depart. we choose to look for common ground
1:58 am
in oh right now, there are 2000000000 people who are overweight or obese. is profitable to sell food that is fatty and sugary and faulty and addicted. not at the individual level. it's not individual willpower. and if we go on believing that will never change as obesity epidemic, that industry has been influencing very deeply. the medical and scientific establishment, ah, what's driving the because it's corporate, me, all of that regret not being around soviet union at the time with their collapse. you know, a lot of people understand you about that. a lot of interesting things. math time, was there writing in the journal. anyway,
1:59 am
they get to have that experience today. right here in the good old usa haven't been in my phone since i don't, i just bought it from i just saw under the dollar format isis fighters and they're now boarding a philippine naval ship in the family. have been done in $900.00 just aren't abdulla still don't know what's waiting for them to do can i
2:00 am
get a hold of me . ready ready i from step proves that new law restricting trouble on entree, except public places for people with all it's still named coven passports. the move is proving highly divisive from our businesses, the public coming up in the program today. in london, the christian preacher, who reportedly converted from islam is stopped at hyde park, famous speaker's corner. but while most media coverage focuses on the fact she was wearing a shirley dough t shirt, we take a more in depth look out the incident on 6 months since joe biden took over the reins at the white house, pul shows half the respondents.


info Stream Only

Uploaded by TV Archive on