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tv   Boom Bust  RT  August 31, 2021 11:30pm-12:01am EDT

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engagement the trail when so many find themselves will depart, we choose to look for common ground in the all drug stilted as a way to come back. a great problem. what's the one? it's part of the attitude of the nation, not just of north dakota. it's got to be something that you could get elected. this time, the fight against drugs took a tragic, told us that andrew was competent short term. this is way too dangerous for him to be doing. clearly, they put him in harm's way. a rural college student does interest get shot in the head and found in a river like something else had to be happening. this
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is been by someone business or you can't afford to mess. i'm rachel blevins and i've read your bore in washington coming up. the united states and allies have proven billions of dollars in for an a to afghan a stand. we'll take a look at how the nation's economy will be able to sustain itself. and bitcoin is less than a week away from becoming legal tender and l. salvador. for the message warning to hit the fall of the move, we have some expert analysis on hand to break it all down then case how is exploring options. so let us customers train stocks on the platform. we'll take a look at how it could affect the future of retail trading. we have a package here today, so let's get started. the the we leave the program with the latest in afghanistan hours after the u. s. declared
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its military has officially left the country. with the departure of us troops came the swift fall of the us back, the government, and now come the warning sign that the country could be weeks away from an economic collapse. the afghan of fans economy has spent the last 2 decades largely dependent on foreign aid. as reports have noted roughly 75 percent of the country civilian budget and the entire $4000000000.00 defense budget was paid for by the u. s. and the nato allies. in addition to the u. s. suspending its plans to continue funding the now overthrown government the i m f confirmed. it was cutting $370000000.00, and cobit relief aid, the world banks that it would freeze over $2000000000.00 and active funding. and the you confirmed it would freeze $1400000000.00 in aid that was supposed to be released over the next 4 years. all of this, as washington continues to block access to $9500000000.00 and can reserves stored
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in u. s. banks, which includes $1300000000.00 worth of gold and new york rushes envoy to afghanistan, called on the u. s. to release the government's asset, saying that if washington truly cared about the fate of the afghan people, then there is no need to create additional problems for them. and the form of freezing the gold and foreign exchange reserves of the afghan state. he went on to know that if the u. s. doesn't do so is likely to create even more kale as the country is forced to turn to illegal profits from his skyrocketing opium production, or the billions of dollars and weapons and military equipment left behind by the united states. so joining us now to discuss jeffrey, dr. president of the brownstone institute jeffery, it's great to have you back on the show to day. now the binding administration has declared that the war is over, but at the same time, they want to continue to control the countries money based on who is in power. so what do you make of that? but it's just usually u. s. foreign policy. i mean,
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we've got to come up with some other strategies here besides waiting war massively subsidizing countries or imposing sanctions. i mean, it would be nice to be us, could figure out a way to have normal relationships with countries. and then the case of the taliban, the west can seem to figure out is fender enemies. on one hand, they see them of the allies against against isis. k, which i get and that was probably part of the rationale for acquiescing to the taliban take over the country with so question the us did that. but at the same time we've got these. now, all these efforts do to, to, to, to put into perfunctory and actually quite damaging sanctions against the country to what end. i don't know, it's definitely going to perpetuate economic cas from the country and definitely going to drive the government and private. busy producers into the underground markets with the opium production and selves. i mean there's, that's the real goal of afghan and everybody knows it. and taliban,
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talking about banning distribution and production is ridiculous. that will definitely be the direction they go. and we don't want that to happen. we've got to have normal economic relationship. it's not necessary to treat taliban as, as either friends or enemies. you can just establish trading relationships, and that's the best way to normalize afghanistan and smoothed this transition. the current path is, is war by another, means we're pull it out the troops, but now imposing economic sanctions in a way that actually going to hurt people need to agree with the russian foreign minister here, but he's exactly right. but it's interesting that you say that about, you know, you don't have to treat everybody as a friend or enemy and have an economic relationship. but apparently, it feels like the united states does not feel that way. when we look at every trade to be, we've had in recent years. now jeffrey, it's not uncommon for countries to store the gold off shore, especially with the u. s. federal reserve,
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which has the largest reserves in the world, but with the safety comes conditions. so what does that mean for afghanistan, if they aren't given access to their own assets that are stored in the united states, looks very much success, really. and as this, the u. s. doesn't have a bad enough reputation. that part of the world is, i mean that's going to turn every everybody afghanistan further against against us and cause the taliban to reach out more profoundly and with greater economic size to russia and china. it's a matter of us once again, surely of self and the foot on the foreign policy decision. and it's really absolutely mr. fine. and it would just be nice if we can establish some kind of normal relationship. i think that was the thinking and pulling the troops out of afghanistan with the taliban that we develop and normally can, i was relationships are normal trading relationships and normal political action. but, but when you have going on to sanctions, is, is probably like a big p r move,
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but it's actually devastating propaganda stance and is going to drive further further into terrorism. further into the underground economy. it's not going to end well. yeah, and we've seen already 20 years of devastation and it just seems to continue. now i want to continue on talking about the point you made there, which is that we have countries like russia and china who have agreed to address the taliban as the governing body of afghan, a stand. but the u. s. has publicly continued sanctions against the group all privately relying on them to fight groups. like i said. so how do you see us influence playing out in the country's economy and are we likely to see more for an investment from other countries? i don't know us us relationships with afghanistan's going to look like us relationships, a lot of countries in the world. we pretend to have the simpler to pretend to have this power, but, but be this country that is moving on without us establishing the own trade relationship with china. and we've seen that with, with russia,
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the us ever further isolating itself from the, from the world economy is the tendency began about 5 years ago. and it just keeps perpetuate yourself. the u. s. keep the teen as if it's a big global superpower. but if it's failing to show that it actually has that much influence in the world, and that seems to be what's going on. right? and right now we have f canister, there will be trading relationships between the taliban and plenty of other governments and the world that is the only viable or government of the state. i think i think that's what the buy demonstration understood are going into this. but now you have, now you have all these punch returns and the other directions. if, as if the us, we're going to somehow punish britain telling me there's going to respond. you know, like with shocking off to the u. s. is amazing power. after 20 years of trying to democratize the country and nation build there and completely and utterly
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failing, you know, it's not like through sanctions going to have much impact on the country. and also be interesting to see what the binding administration decides to do now that they know that this is a way that they can't win jeffrey tucker of the browser and institute. thank you so much for your time. and l salvador continues to move forward as it prepares to accept big coin as legal tender move that has brought praise from the crypto currency world and warnings from the international monetary fund with less than a week to go before the change. the deputies of the finance commission of the legislative assembly of el salvador agreed monday to create a $150000000.00 bitcoin trust to facilitate exchange between bitcoin and us dollars in the nation. and the el salvador and minister of economy says there is a possibility of increasing the initial allocation. joining thought to break this down approved by the co host crypto analyst spend swan and christy. christy. i want
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to start with you here as el salvador is making this move, it requires adoption by the business community. how is the country building support for that? while they're building support by incentivizing citizens the same way that the crypto world incentivizes adoption during an idea, you create an air gun which is free money. so in one week on september 7th, every citizen and el salvador will have access to $30.00 in big point from the government to their chiva wallet. exchanging points for dollars or more points to the new atm or the apple. the commission free and citizens can begin to legally receive a payment without having to pay additional changing fees. now the government will spend up to $75000000.00. 5 to air drop, $30000000.00 worth of bit point and to be cheaper wallet. and that would cover the cost of feeding the $2500000.00 users. and then they're also building up the atm infrastructure and they're supporting structures to be built all around the country . and the presidents also allocating
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a significant amount of funding to also incentive by citizens to learn how to use the chiva wallet app. and in addition to that, the shift is meant to attract for an investment and entrepreneurs in the crypto space. the president has said that foreigners from poverty can then by can buy them with it quite without paying the capital gains tax that they face in the us and elsewhere. yeah, and we know that all salvatore is really being seen as the massive experiment when it comes to bitcoin right now. of course the world is watching so bad when it comes to the i m f. we've heard one statement after another. they've made it clear that they don't like the idea at all, and they've now issued a new warning, correct? yeah, they have essentially what they're wanting about is they're saying this is and i want to get the quote here. this is an inner via usable shortcut that salvador is taking by making bitcoin legal tender essentially saying that they acknowledge cross water payments will be easier. it will be faster for merchant said, you know, digitize the economy. because all these positives that they say, yeah,
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we knowledge so, but we think it's a bad idea overall and it could hurt businesses, or it could hurt the ability of all salvador to get help from the i m f. if it needs help from the international monetary fund, why would, why would that be the case? unless it's all about politics? but it sounds like the message really saying, and as you guys know, they've had these warnings in the past, which essentially say, we think it's a bad idea because essentially you're trying to go around the banking system and you're trying to implement bitcoin in a way that really legitimizes it for the entire country. and so we don't like that . and because we don't like that, if you continue down this path, you better watch out because you might find yourself in a situation you don't like i know in the past like compared it to feeling kind of like you're dealing with the mob. i still think it sounds like that it kind of comes off like you're dealing with the mafia here who are kind of warning you that you might want to think twice before you do this and it just comes off in a very negative way. yeah, it really does, especially when they continue with these warnings and they try to exert as much control as they can. now, christy,
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there have been some anti bitcoin protests in el salvador. what do we know about that? yeah, so not everybody is optimistic, but the chain, salvador and citizens, they started to protest. the change in the fears of crypto volatility put every day . investors at risk and my potential even even more chaos. and a lot of the fear comes from the lack of understanding of the financial markets, which might present a challenge, because the big point is all of how they're currently right now. they just from accustomed to using the us dollar as a safety net and anything else that could move as a threat to their financial security. because they're so used to their own preparation in only one direction, which is down. they fail to recognize that big point will most likely appreciate and go up over time. and this again, stems from the lack of financial education amongst the local population, which really isn't their fault because it one is living from paycheck to paycheck. investing is probably the last thing on their mind, but in any case, other countries may soon be following suit to cuba. also announced that they too
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will also recognize that in the future. and now ban. i know you have a pragmatic mind about this. despite being a crypto enthusiast, a crypto supporter, if you will, but obviously a transition like this will not be a completely smooth situation. what are the biggest hurdles that i'll, salvador may face? yeah, i think there's a number of them in christie mentioned right there, that you have a fairly unsophisticated population of people, especially when we're talking about dealing with a digital currency. it's non trying to take that as an insult. just the reality of what it is in el salvador. so there's going to be a huge hurdle in terms of education. and in terms of people adopting technology for the very 1st time that they've, they've never used before. i think that's going to be a huge hurdle, but i, i honestly think the biggest hurdle el salvador will face will come from the outside of the country. it won't be just the financial literacy and digital economy literacy that has to take place. but also just the influence in the undue influence of other countries and those baking institutions and those, you know,
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groups like the international monetary fund who don't like this idea. what they don't want to see is the idea of bitcoin is legal center becoming something that catches on throughout the world. and so if you can make an example of el salvador and show that things will poorly there, or that people were harmed, it ultimately serves the existing banking structures. and so there is an incentive there for, for certain groups to see el salvador fail in this model. and so i think that's the biggest hurdle they face are those outside pressures. and when we talk about the idea of financial literacy, of course, you know, i think all 4 of us have at one point been asked to explain what bitcoin is, what crypto currency is. and even when you have a pretty good understanding of it, at times, could be hard to explain how you would do that and how you would use and trade it. and you think about bringing that into an entire monetary system. could definitely have a couple of problems to get over, but i think they can boom, bust bend swan and chris the i thank you both breaking that down. thank you.
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and as part of china's wide ranging tech cracked down, the nation's regulators have imposed firm restrictions on the video game industry. the new rules published monday will limit miners under the age of 18 to playing online games for just 3 hours a week. they will only be allowed to play between the hours of $8.00 and 9 pm on fridays saturdays and sundays. they will also be able to play in the same timeframe on public holidays. now the rules come from the national press and publication administration, which overseas the countries video game market and told state media teenagers are the future of our mother land, protecting the physical and mental health of minors is related to the people's vital interests and relate to the cultivation of the younger generation in the era of national rejuvenation, the chinese game market has become increasingly popular in recent years and is expected to generate more than 45 $1000000000.00 in revenue just this year. according to industry analyst news, you wow, i cannot help but think that if
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a rural like that were past year in the united states, there would be protest in the streets. i mean, is this something that can only happen in china? yeah, i mean, you're going to have to have a government that can actually put something like this in place. i mean, here, number one, business has way too big of a influence on policy. and frankly, i mean, when some of these game manufacturers were asked about this here in the united states and said, what do you make of this? and the concerns over video game addiction and that kind of issue. they basically said, look, we put this in the parents hand, we give them parental controls, they can limit the amount of time they can see how much time their child is playing . we have rating systems that make sure if the violence in video games is your issue. we do that, so they've kind of put that and said, hey, that's not on us, that's on the parent, but in china, it's really going to be on the tech companies in this situation. yeah, it'll certainly be interesting to see how that all plays out time. now for a quick break, but when we come back, hey paul is looking to hop into the retail training sector with the platform and the phone. well, take
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a look at what that could mean for users and for the future of training mac. and as we go to break the numbers at the close, the ah, rather driven by drimmers shaped by those in me thing. we dare to ask me.
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they had paper, well, they have no big point. as a matter of fact, they shut their bitcoin mining down. not sense, they burned their treasure of late 500 years ago. one of the main dynastee has a country made such a boneheaded and stupid mistake. psychiatric drugs are essential for millions of patients. or are they, they want that pill that they hope will take care of their problem thoroughly and rapidly in the short term they really work. the problem is, in the long term, they're mostly disastrous. suddenly stopping a drug can cause withdrawal symptoms more serious than the condition it was meant to treat instead of the beneficial effects of these different medicines ending up to something wonderful. very often they're harmful effects and up to something
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terrible can pills. so of all ills, or are we trying to mitigate life itself? i just think i was like i was just scared, scare a little girl, the 24. and like i didn't have to be so complicated the welcome back pay pal is reportedly exploring an option to let us customers trade stocks on their platform according to sources cited by cnbc. the report also states the payments company, hired brokerage industry veteran richard rich hagen, to had it invest at pay pal division. now the possible move comes after the company launched crypto currency trading for us customers last year. and as we have talked about recently on boom bus, retail trading has become very popular as the means doc movement took off just
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earlier this year. in fact, larry tab, an analyst with bloomberg intelligence estimates retail investors accounted for 23 percent of all us trading. this year, roughly as big as all hedge funds and mutual funds combined. now as the news bro pay pal stock was up as much as 4 percent on monday before leveling off into tuesday. for more on this and what market tuesday, let's bring in michelle snider. she's a partner and director of training research and education for market gauge dot com . always a pleasure to have you on michelle. i want to start with the paypal situation as retail investing has become more and more popular. is this a good move for paypal? well definitely, 1st of all they have 377000000 active users. if you compare that to robin hood, they have 18000000. so in terms of the whole trends, you just talked about retail investors getting more and more involved in the market . k pals certainly opens up another door now it's going to take
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a while for that to happen. and as you mentioned, they're already into the crypto space. there's talk that perhaps they'll find some kind of a partner as a broker dealer. but overall, right now, if you just look at the stock itself, it's interesting because you mentioned it's sold off a little bit, but it actually is holding a very key, moving average here are the 50 day moving average. you have an opportunity if you believe that this could be a real profit for them as it was, let's say for robin hood, when you have a situation where you have about a $10.00 risk and it should stand the stock off. now we will tell you though, it does, it will take time. it's not going to happen overnight. wow. so pay pal is seeing all of the success that has been had with retail trading and they're trying to get a piece of the pie. they're now staying on the topic. we saw that robin had stock loss as much as a person on monday after the report that pay pal and fcc chaired, gary gambler are claiming payment for order flow has an inherent conflict of
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interest. so why is the practice of robin hood sending orders to wholesale brokers rather than exchange is facing so much criticism? and why is it used to begin with? well, 1st of all, to answer your 2nd question 1st. this is nothing new now in terms of 0 commissions, we'll get to that. but i go back a long time in trading when we used to trade on the commodities exchange. the order flow would be jumped in beforehand, so people would be privy to a broker working for a large company that a large order was coming in and people would pile in and try to hit it in toronto. and as soon as that order was done, they would sell. and so if you are an experienced trader, i just really think it's important to get some bog down into the ideal just high frequency trading in the cell. and order flow means that you should make some adjustment if you are a position trader really should make that much difference. and if your day treating you should probably have a little bit of a timeframe in your mind before you put
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a by stop or cell stop. so i wanted to mention that as far as the actual order flow selling of it robin hood is definitely not the only company that does that. and in fact, going back to what we just talked about with pay pal, that's also on the table to have 0 commission that's attractive. so there has to be some kind of payoff there. so the fact that again for was to take his father, he's not just taking it on for robin hood, he'd be taking it on for the entire industry. and that would mean some really big sweeping changes to the whole industry in general. so really in terms of the retail best or it's going to come down to what do you want more you want you commission? or do you know that your water flows are being sold? and that of course, could actually affect your fill. when you put in an order, so it's going to be interesting to see what happens going forward. michelle, i just want to follow up on that because i think like i understand completely what you're talking about. this is nothing new. this is kind of the way it works, especially when you're looking at 0 commission trade. but when you start to have
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retail investors who don't have big money in the market, this is they're professional job. they're just trying to make money where wall street makes money. and they look at it, they say once you start learning about payment for order flow, you're basically saying ok, well, all these other brokers, they see the money that is coming from my account. they see the buys and they might see them coming from all over the place in the retail. but shouldn't they kind of even the playing field for the retail investors if you want regular people trading in the stock market, or do they just not want us there? wow, it's really kind of like you, you're going to lose as a retail investor one way or another. so pick your poison and i think that's ultimately what retail investors are going to have to decide. because if they go back to charging commission and you're a very active trader, then as we know that also with small money will cut into your profit potential. that's not an easy answer. all i'm saying is that historically there's been an
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adjustment that you tell investors have been trading for a long time. i've had to make and they pay commission. so at least you have one advantage and you didn't have say a few years ago before 0 commissions became popular. so again, we'll see what going on for does, but is huge because it's not just robinhood. he's got to deal with this with many companies going across the board. absolutely, and we know settlement time is coming up as well in the discussions. michelle schneider of market gauge dot com. we could talk all day, but unfortunately we're out of time. thank you so much spirit. and finally, the 1st ever payment to accompany to mind the moon has been made and a transaction between nasa and lunar outpost worth just $0.10. the cheque represents 10 percent of the colorado base start up to $1.00 bid. it also says that the legal framework for lunar outpost to follow through on plans to collect dust from the move that may not sound like much, but nasa administrator bill nelson said the mission to collect space resources will
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play a key role. and nasa is artemus program, as well as the future of space exploration. they say they're a long term goal for the resources they find is to create a form of cement for building facilities or even to create water ice to then create rocket fuel. as a result, really, the possibilities are endless. a 10 cent contract. can you believe that, rachel? it just doesn't make sense. and that's it for this time you can catch boom bus on demand on the portable tv app available on smartphones and tablets, the google play, and the apple app store by searching portable tv. portable tv can also be downloaded on samsung, smart tv, and roku devices, or simply check it out. portable tv. we'll see you next time me. the war on drugs started as a way to come back. a great problem. what's the one?
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it's part of the attitude of the nation, not just of north dakota, and it's got to be something that you could get elected. this time, the fight against drugs took a check and told us that andrew was competing insurance form. this is way too dangerous for him to be doing. clearly they put him in harm's way. a rural college student does interest get shot in the head and found in a river like that. something else had to be happening long when i was the wrong. when i was just don't the room. yes to see out the thing because after an engagement equal betrayal, when so many find themselves worlds apart and we choose to look for common
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ground only one main thing is important for not as an internationally speaking. that is a nation's allowed to do anything, all the master races, and then you have the mind, nations who are the slave, the americans, brock obama, and others have had a concept of american exceptionalism. international law exist as long as it serves american interest. if it doesn't, it doesn't exist. like turning this russian enter this dangerous man that wants to take over the world. that was a culture strategy. so some of it in your own, i english v i v. i not, felicia too often in tablet, block nato, to it's our, we move east. the reason us gemini is
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a dangerous is the lag, the sovereignty of other countries. the exceptionalism that america uses in its international war planning is one of the greatest threats to the populations of different nations. if nature, what is founded, shareholders in the united states and elsewhere in large companies would lose millions and millions or is business and business is good. and that is the reality of what we're facing, which is fashion. the extraordinary success. and this mission was due to the incredible skill, bravely and selfless. courage is united states military and our diplomat and intelligence professionals. us president joe biden called the mission and i'm gonna send success despite the chaos and bloodshed during the final days of us military presence. also claimed that american efforts to remake of the country in its image
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