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tv   Boom Bust  RT  November 30, 2021 9:30am-10:01am EST

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has not been hampered by some events being canceled abroad as he tried to reach out to french ex pats his events which drew my support for tinkling here in france. oh, so to protests, i'd have, i'm your never to have given attention to. i don't even want to pronounce his name . who has said such outrageous things is just an acceptable even if okay, we're in a country or freedom where everyone has the right to express their opinion. but to give so much visibility to one person like that is shameful. that's a premier pasco, hist. we hope mr. zima will clean things up. uh, but the problem is that it's been 30 years 40 years and that the state has been demobilized from many issues. and we need to see it clearly. we need to re launch the country. i think the others won't have the courage to do it already or so that's we're today. we see that despite our differences, we all have the same problem in our daily lives. that is why we are all gathered today to say no to this to visit us, which is the work of certain extreme us among politicians. like with the far right
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and to country, they call them a racist. but it's not true. he's no more racist than i am. i am of lebanese origin, and i'm here and i've integrated, well, yes, the law has also been criticized recently by marianella pen. the national riling leader sees the moores being a would be rival from the affection of voters on the right. and she says he's an unsuitable person to be president. now her native criticism came off as a mil, gave a woman. the middle finger mimicking a gesture that she had just given him, now more has described. the incident is being inelegant, but said that his instinctive reaction showed that he's prepared to break taboos. now many have also describes him more as being intellectual. donald trump and he has had a popular right in the polls so far. at one point, even before declaring his candice,
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the poles showed that he could make the 2nd cut to the round of voting. that will determine who's president not to shaken up. many on the political scene, which is very traditional here, a scene still isn't quite certain as to who will be on the ballot paper next year. current president macro and still hasn't officially thrown his hat in the ring, while the republicans who all the traditional party of the right still to choose their candidate. the more enjoying things like marine the pen socialist powers. and he del, go on the left, doing fine brand new medicine as he eyes the top job in france. gonna be tough for that fit for me for now. reporting for most goes been kevin. next we're going to state side studio here. the boom bust team are on the air i
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ah the boon bought the one business show you care to coordinate the bridge work, and i'm rachel lemons in washington coming at news of a new cove. it 19 variant continues to take its toll on the market as trading has rebounded slightly following a brutal black friday straight ahead. we'll take a look at the latest concerns and what measures governments are taking to combat the spread of the virus. plus could have been or stream to pipeline begin running, the ford is officially certified. that's the major question as germany calls on republicans in congress, not to approve new sanctions against the project for the scott and the rift between the european union in the united kingdom continue to deepen as the 2 remain at odds over fishing and trade rights. later on we sit down with hillary forward for the
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latest. got a lot to get to look through it. and we lead the program with a slight rebound for markets here in the united states following friday's sell off in response to news of, i'm across the latest coven, 19 various. now all 3 major indices fell over 2 percent on friday with the dow folly more than $900.00 points to markets worst day since october of 2020 oil prices also saw their worst day since april of 20. 20 has fears over the impact of the variant, coupled with the lack of liquidity amid increased demand surrounding the holiday weekend took a toll. now the binding ministration announced it would ban travel from south africa where the variant was 1st reported as well as 7 other nations. in southern africa, the news sent the travel industry into a panic, and while the world health organization said the latest variant presents a very high global risk, it also criticized the u. s. for immediately turning to a travel man, while president biden didn't address that criticism. when he spoke on monday,
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he did refer to situation as a cause for concern, not a cause for panic, and he urged americans to get back the needed saying he is working with pharmaceutical companies here in the u. s. to be ready to respond. we do not yet believe that additional measures will be needed, but so that we are prepared if needed. my team is already working with the officials, advisor, and darn, and johnson and johnson. to develop contingency plans for vaccines or boosters if needed. and i also direct the f d a, the cdc to use the fastest process available without cutting any corners for safety to get such back siege approved and on the market if needed. and running us out of this gas, our burn lucko house, christy i, and octavia moran, the ceo of optimist. o l. c. octavio, let's start with you here. i know we saw significant reaction from markets on
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friday, but some one of a rebound here in the us today. how are investors seeing the news of another new covariance? i think the small money's looking at this and saying that it could end up actually being very beneficial for markets. the big play mark has been the federal reserve in the european central bank, basically saying that can be tapering their bone purchases of its coming year. 2 years and slowly drawing those down. this might give those 2 big central banks to excuse they need to best that back into the market and say, we're not going to, we're withdrawal that support. we're going to carroll buying bones. going to continue the policy on before, and that will be very, very beneficial to market because there's a risk then that this is a very bad, very up to know very bad. and lisa was a shop downs, looked as things that sort, but it is just right. not too big, not too small, and right in the middle of those, it could actually be very, very beneficial for marcus if it delays this tapering down of purchases by the due to being central bikes. and christy, as we said there in the opening, the oil industry also took ahead and made concerns of more widespread travel band
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that could lead to more locked out. how much of an impact is that news having right now? all rebounded on monday, briefly touching about $77.00 a barrel as investors kind of view the slump, as we said, a buy opportunity right now. it is a little bit overdone, and speculators are saying that we lack the data about this new variance. and if this new variant proves vaccine resistant or more contagious, that of the variance, then it could impact travel, commerce and actual demand for oil. so as of monday we have w t, i up almost $3.00 after tumbling over $10.00 on friday. so prices haven't read, founded quite fully yet, and speculators who are bottom fishing are doing so cautiously in case more data comes out with more cause for concern. opec plus said that they are not worried about the micron variant, but they are monitoring the situation very closely. and they will meet on december 2nd to discuss whether to proceed with a schedule january increase in oil outputs or not. but as of now they have currently postpone technical meetings this week in order to gain time to assess oh
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my guns impact. so friday slide was the biggest one day dropped since april of 2020 reflecting fears that additional travel bands will be put in place. and while many countries have now restricted travel in 2 areas and regions in south africa, japan was actually the 1st to officially close its borders to any non citizens which includes international students, short term residence, or people visiting family. so all of this is gonna be waned out on oil and archiving. obviously you said like the hope here is that this could be a short term issue. and if so that you know, could be beneficial even as central banks kind of adjusts. but what could this do if it does spread world wide? are we concerned that these locked downs and more travel bands could hurt the recovery that we've seen so much of why did the lunch as well? definitely the recovery. you know, i'm, i meant to join you this evening from, from australia and jenna. we were sitting in the midst of a big lockdown. everything shut down. it basically worked 24 hour lockdown is going
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on the moment. and it looks like that's going to spread. i mean, germany now has had his highest case load ever in terms of kroger and all the comments i think is gonna push over the edge and we're gonna see locked else coming there in a matter of days, weeks of the most operate days when the c jeremy shut down in some way of france and italy of seeing the numbers increased rapidly. this still it rents below level, but they sort of steep up. it's like a wall going up that the numbers, so that is really what we're facing. learn so the lockdown is a definite coming in europe. the going to come hard. chrissy points out of the low crowns will travel bounds in japan. those are things of spreading rapidly. the u. s . so far has been fairly unscathed through this and i think that might come in the coming weeks though. so yes, we're going to see more downs and they're going to have a very negative impact on travel and also some of the business as well. now we know that some of the central banks may be happy about that, especially if they're not ready to taper just yet, but it does create a lot of concern. now kristi, i also want to bring crypto currencies into this because they were included and
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that saw that we saw last week. so what do you make of the speculation surrounding bitcoin right now? and what's your response to those who say that it's not really an inflation head because of the fluctuations we have seen that move along with the stock market. i would say that just because something is an inflation hedge does not mean that it won't have volatility because those 2 are completely different things. they coin has fluctuations and volatility, and we'll move with the market. so it's not a hedge against markets by any means. when we talk about inflation, we're talking about the cpi, which is a basket meant to reflect purchases made by the average consumers such as food energy, other services. and over the last 2 months, prices for these items have risen drastically with energy rising 30 percent. which means that the average consumer is going to experience inflation and an erosion of buying power because wages are paid in dollars. and that dollar will be buying a lot less of that basket than 2 months ago. so that's what they coin now comes in because of the last 2 months. actually the last decade,
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one bit quiet will buy you more of that basket than before because bitcoin is not tied to any one currency, and it is truly borderless. so in times of high inflation, one must take more risk to offset the decline, an existing asset values. so 3 percent dividend yield that may normally supplement income in retirement. but if inflation is 6 percent, it's just simply not good enough anymore. so that doesn't mean big coin is an invincible and can only go in one direction up. no, it's will still have volatility. but over time it has proven that it will keep pace and output inflation. but all in all the coin is more so a hedge to feel regimes, like we said, unlike the u. s. d or the pound that no longer has any intrinsic value. because intrinsic value is just going to grow and strengthen over time with his decentralized nature. it's sponge ability and it's network upgrades that continues to add to the asset value. and then as we continue to go through inflation locked down, all of that, we've continued to watch,
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curb to currencies grow most christy i and octavia, maria, the optimist. i'll be thank you both for your time and insight. the ongoing saga of the north stream to pipeline between russia and germany may have just taken a new twist as there are reports of the pipeline might begin operation without certification on november 16th, despite the north stream to pipeline being completed and ready to begin operation. the german regulator decided to suspend the certification procedure. now, according to a german newspaper operation of pipelines without certification has happened in the past. when pipelines were put into operation before they were officially certified . specifically the n e l and e g l for a one projects to joining us now discusses boom bus co host an investigative journalist, band swan. now ben, this is kind of an interesting scenario here. the north trip to pipeline in theory could begin operating without government certification. tell us about that. yeah, absolutely. could it's, as you mentioned, it's happened
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a couple of times before the bottom line here is that the idea of certification is when you are essentially putting gas, natural gas and oil to pipeline with government certification and approval. if you don't, you just pay a fine. in fact, the fine for doing this, according to the newspaper, is about 1000000 euro. that's how much gas problem, which is the, the operator of that pipeline. the russian state oil company would actually have to pay about $1000000.00 euros, which the whole project was about $10000000.00 euros. and when you also consider the fact that the, the price of gas right now, the cost of gas cross europe and how expensive it is, it basically, if you do the math gas problem comes out ahead by going ahead and running natural gas and oil through that pipeline, and just pay that $1000000.00 euro 5. wow, and i know, even though this is a pipeline between germany and russia and the united states always finds a way to get involved. and even though we saw that deal between germany in the us now the german government is calling on members of the us congress,
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not to sanction the north stream to pipeline shooting down concerns at the russian gas lane will threaten ukrainian security. what do we know about those new calls for sanctions? yeah, what's interesting about this is coming from a couple of different senators, including ted cruz of texas. the idea here is very simple, which is that the u. s. wants to sanction, not only gas problem, not only do they want a sanction the russians for this pipeline, but they want to sanction anyone in germany who assists in the pipeline, including those who would be part of the certification process. so if you ask the question, why is certification not taking place when europe is in this enormous energy crisis right now? the cost of oil in natural gas is through the roof, as we know in europe, it's causing enormous hardships, especially as winter is now approaching. and people there need this energy, why hasn't been approved. and the reason the certification has not taken place is because there are threats from the united states that they will punish through sanctions, any entity or individual who helps in that certification process. that is what's
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going forward here. so what the germans are saying is, hey, wait a minute, us back off. we don't need you to do this at the u. s. is doing that because they say, oh, it's going to hurt ukraine. we've heard this story before. it's going to ultimately hurt ukraine if this takes place because the ukrainians need the money that will come from the pipelines that run across their land from russia. and this is being bypass that what germany is saying is there is no reason to believe that it's going to hurt ukraine and that we need to have our own solidarity and essentially national sovereignty. when it comes to this issue, the russians want to do it. we want to do it, stay out of it with your sanction or right. and i mean, the germans evasively that this certification delay is mostly due to some bureaucratic red tape where they have to incorporate inside of germany to do so. and the us been increasingly involved in this situation, obviously they, they, at one point kind of gave their blessing for germany to go ahead and get the guy from russia. but the kremlin kind of saying, hey, the u. s. should not be involved in this process. what are we hearing? yeah, the kremlin saying the same, the germans are saying, which is that this is
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a deal between russia and germany. and why does the united states have any part of this at all? and i listen, that's a very fair question. why does the united states have any saying this at all? it's, it's not as if the russians are forcing anyone to buy their oil and natural gas. there is a world market. we talk on the show all the time about markets and market demand. there's an incredible market demand right now for this oil and natural gas, it can get faster and cheaper to germany and the rest of europe running through the north stream to pipeline. i know the united states, the claim is a, it's going to hurt ukraine. but the bottom line is, is that we are imposing ourselves into a situation that has nothing to do with us. and essentially threatening all the actors involved saying, we don't want you to do this. meanwhile, the u. s. is trying to actually go specifically to some of these countries and asking for a strategic oil reserves to be released instead of allowing russia to continue to pump the, the oil through north you too. so it's very interesting. kremlin says stay out german say stay out. you know, i think most thinking people would say stay up with this or,
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and it just seems like chaos all around at this point. now when we talk about the timing, i know there has been a lot of focus on the fact that germany was looking at a federal election. now we know that we have this new coalition government in germany and it's getting a lot of pressure to reverse course on north stream to does is create more problems for the pipeline, getting up and running, getting certified. we've got about 30 seconds left. i think it could, you know, poland is one of the latest countries to come out and basically say that the new government should reverse course and not certify. and in this relationship with russia over the pipeline. and again, they're doing it for the same reasons. talking about ukraine money for ukraine. i think what we're going to see though, as, as, as high as gas prices are now. and the need, as i mentioned is winter approaches. germany is not really in a position to negotiate a whole lot here. they need this oil, the rest of europe needs the oil and the natural gas that will come to this pipeline. and the russians want to do it. so at the end of the day, the, the belief that ukraine will be destroyed by this, i'd remind you that the russian president has already said they're not going to stop paying money, the ukraine,
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they'll continue to do that. the idea ukraine will be destroyed. i think is a false one, but either way, they need the oil, it'll probably happen. and boom bus spend swan thank you so much. and now to a major announcement from texas millionaire jack dorsey, the go founder of twitter says he is stepping down from his role is a company ceo after really 16 years. he of course, to the platform to make the announcement i think he believes it is time for twitter to move on from its founders. now twitters current chief technology officer will be taking over as the new seo sparking concern. we could see an increase in tech censorship, given his pass comments about the need for twitter to focus. why? so i'm thinking about free speech and more on thinking about how many times have changed. so as for dorothy departure, he has long been torn between his roles as c e. o, both twitter and square even saying the 2 companies are like the children. he never had a bit sad there from jack, but dorothy also hated that he may 1 day leave both companies all together because
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during an interview at the big queen 2021 conference in june, he said if i were not as square or twitter, i'd be working on bitcoin, if it needed more help than square and twitter, i'd leave them both for bitcoin. wow. as a big statement and you know, it's interesting. i've been reading a lot of course on twitter today. a lot of people are kind of upset about him stepping away because they really like doors. he's viewed when it comes to bitcoin, when it comes to more of a decentralized nature and their concern when it comes to, you know, those big c, e o them in the theo of twitter is a big job. well, you know, we've talked about this on the show before, but the fact that it was kind of unprecedented for jack dorsey to be the ceo of 2 major publicly traded companies. so i feel like this was a long time coming. i know one side was going to be happy and square or it's twitter and i feel like, you know, for his love for bitcoin, he could probably work more in crypto currency if he stays at square than on twitter. absolutely. someone who says that they're like his own kids, he got up at the end of the day and time now for a quick break,
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when we come back at dispute, can you drop the english channel as the e u and the united kingdom remain at ever trade right in the weight of the divorce and as we get a break here, the numbers at the close. ah ah, 100 mic. no, certainly no borders to nationalities. and you as a merge, we don't have with the we don't on the back seat. the whole world leads to take action to be ready. people are judgment,
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come in, we can do better, we should be better. everyone is contributing each in their own way, but we also know that this crisis will not go on forever. the challenge is great. the response has been mess, so many good people are helping us. it makes us feel very proud that we're in it together with the welcome back. the post breakfast bridge between the united kingdom and france continues to grow as a number of issues drive the 2 sides further apart. on friday, french fishing crews blocked french ports and ferry traffic on the english channel, and their latest protest over post split fishing licenses. french fishermen are
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taking issue with the british government for not granting more licenses to fish in british waters and with the european union for not doing enough to address the situation in a timely manner. meanwhile, tensions between u. k prime minister boris johnson and french president emmanuel crone reached a had the same day as mc chrome took issue with johnson tweeting a public letter following the thinking of a boat filled with migrants crossing the english channel, which left 27 people dead. now, during a news conference while at rome, the french president urged his british counterpart take the issue more seriously. just critique to do. i think i spoke 2 days ago with the prime minister johnson in a serious manner on my end. but i think to continue doing as i do with any country and any head of state. i'm surprised by methods when they are not clear, if you don't communicate from a leader to another on these matters, coming to be tweets and letters that you are making public enough. we're not with the forward. come on, come on, i didn't and for more on this look, bring in hillary for rich board member with the british american business
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association. hillary always pleasure to have you on, i guess, you know, when with start with kind of migrant cases and these latest comments from a crown in response to a letter from boris johnson. i mean, how much does this strain put on the relationship as we also are looking at, as opposed to breaks it agreements about fisheries? there's a great strain and i actually, i'm pressure to be back with you again, brian and rachel. i would defer to thomas so who said, you know, we always misunderstand about politicians that the number one and number 2 concerns all how to get elected and how to get reelected. micron has a reelection coming up a reelection campaign and when in doubt with regard to the french or maybe any political leader always look to defer and deflect. right. so let's blaze, let's deflect them. so obviously he needs to blame external things. he's looking to deflect any problems on the british and with regard to that terrible crisis, the migrant crisis. so the u. k is paying the french $54000000.00 pounds on top of
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the additional $103000000.00 pounds. they're already paying to help beef up the security and the checks the border on the french side. they actually paying to help us. what's not happening is the migrants are being the migrants are being released . the smugglers are not being arrested and surprise, surprise. they show up the next day. so here you have micron deflecting blaming the british. meanwhile, that not arresting them and then not stopping any of these migrants crossing eggo. you have a crisis like this, with these best in the channel, and the exacerbate the whole situation. and it's unfortunate how often politics really do play a role and all of this. absolutely. when it comes to this block that we're talking about, we know that these fishermen aren't leaving the you in france out of the equation basically saying they aren't doing enough to protect their livelihood. what say you on that one? will the livelihood? yes, i mean, 1st of all, the french waters are over fish, right, 90 percent of all of the haddock that they fish in the waters of comb,
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or they are now fishing up to 6 miles off the u. k. coast. so 98 percent of all the licenses that have been applied for have been fulfilled. those remaining, many of those transcripts have fed what we've been fishing in those water for decades, but by aren't able to get the licenses. busy why not? because they're not able to prove it because they don't have the paperwork. why don't they have the paperwork? because they were fishing illegally. now it's just 2 percent. so you have to say that if you wanted to fish in those waters, you should have done it legally in the 1st place. and then you wouldn't be in this predicament. i think the problem is that you're going to really face is going towards 2026 when those fishermen that are allowed to fish. now a lot of that is going to be repeal. this isn't going to get better. this is going to get worse over time. speaking situations that continue to seem to get worse, i'll come back. i think we will have hillary. i didn't like it is situation, but also you know, in the pros, post brack, the divorce that we've been talking so much about obviously been or their own
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project protocol. is, becomes a big issue, there's more talk ongoing, and there's talk about that article 16 will at least won't be triggered before the new year before christmas. so what are we looking at these border checks in these custom checks that we're seeing as far as northern ireland going? how are they going to affect things into the holiday season? are we going to see that christmas without turkey or. busy had some of that been come pull back a little bit. well, some of it has been pulled back and it is right now. it's what i would consider border check light. because a lot of those checks have not gone into full effect, which won't be in after the new year. but in terms of the cold christmas holiday season. and one of the things, one of the issues that she that's come up is that the christmas crackers, something that's a particularly a u. k issue, which is when you pull them apart the christmas davis, not so much an american issue, but those in the u. k. will know what we're talking about, that has become some of a somewhat of an issue. i think turkey is going to be okay bought. there have been a lot of the e u. workers being given licenses to come into the u. k. because pigs in
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a blanket, a lot of the bacon, that's neither over the christmas holiday season. the pigs are having to be slaughtered in the bones because you don't have an adverb clause. you don't have the amount of work that are needed. so you've had a lot of those work as being allowed in, particularly for this season. exactly, to your point. so you'll be able to have turkey on the table for christmas throughout the u. k. i will have more of that in the coming weeks. i'm sure hillary ford, which of the british american business location. thank you so much. and finally, the n f t crazy may finally be hitting a breaking point movie theater chain amc and sony pictures are partnering up to offer 86000 non refundable tokens to members of their elite programs who pre order tickets for spiderman. no way homes opening night on the 16th of december. now this shouldn't come as a shock after amc has embrace accepting crypto currency in recent months and the company, c. e o. adam aaron took the twitter to announce the promotion, saying, quote, this idea came from you. adding that there will be more than $100.00 unique spiderman
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empties available, designed by animators at cub studios. now, tickets officially went on sale on monday morning and you know, it's interesting because when we're talking about 86000 entities, does it kind of take away from the whole point of being? absolutely, i think so, because when you're talking about something that's collectible now, this is just jug sometimes as somebody who collects things, sometimes you just get out junk. got loaded on you and when there's 86000 of them to anybody who pre orders a ticket, in my opinion, that's just junk, have hulu, and that's it for this time. you can get both on demand and the portable tv app available on smartphones and tablets. your google play in the apple app store by searching portable tv. also check out portable dot tv and we will see you next time with
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you a tool that was bad for your eyes and your post. yeah. that it would stop you from having real friends and finding it go friend. but what they fail to mention is that you can make thousands of dollars over the weekend by simply playing video games with music up a little bit ago with the little property. cuz those are actually a pretty much what we do stuff is going off. boone, of course, to make video games on hang job. you have to be gifted and quick witted. i'm going to open up with the little bit mr. lithium and miss thompson with webpage bradley up amongst the booth, but even started yet, glove voice. when you mo, stormy, i'm of is do it out or you mean it, was it mules people? are you guy of the owner? but i would that be careful with, with the shock defeated. odd to do. i also use
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with the top story tonight. the origin of the new coven strain all microns now under question. as dutch health officials say it was detected in the netherlands before it was reported in south africa, covenant would speak to a w h. o representative in russia. a logic, the knowledge is telling us that this is a more deadly virus. there is no place for planning, but there is place for preparedness, proportion, and action. nursing unions mean time from 28 countries to monitor suspension of co that vaccine payton's. so that poor countries can legally produce them. they say such jobs are being unfairly imported in a moment by wealthier nation we will be forced to create.

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