it also criticize the u. s. for immediately turning to a travel man, while president biden didn't address that criticism. when he spoke on monday, he did refer to situation as a cause for concern, not a cause for panic. and he urged americans to get back to 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 officials at pfizer, amber darn, and johnson and johnson. to develop contingency plans for vaccines or boosters if needed. and i also direct the f t a the cdc to use the fastest processed available without cutting any corners for safety to get such back siege approved and on the market if needed. handwriting us out of this gas, our ben lucko host, christy i, and octavia mirandi, theo of ottoman. i'll see octavio, let's start with you here. i know we saw significant reaction from markets on friday, but somewhat of a rebound here i

the u. s. didn't want china to building out our own communication network, even though there have been no evidence of any wrongdoing on our part. so meanwhile, the circumvention is to help to get chips which is related to his bread and butter consumer mobile devices division, which is completely unrelated to their networking. so i can see that by ministration, not be happy about this work around and trying to do something about it. but there will be no legitimate reason for doing that because they're simply selling mobile phones to customers, to chinese customers. so there's no national security threat around that. ok, so it's shipped from from why way over to trying to telecom. because on monday trying to telecom at the fcc to put a temporary hold on it's decision. they're gonna force that company to discontinue us services by early january. they said that this short timeframe is gonna harm it's business, reputation and relationships. obviously that's already happened. but what exactly is the

s. capital market. now the u. s. corps eventually went on to will in favor of shaw me, setting precedent with the duty actually agreeing to move the designation and also allowing the company to operate in the us. so in this particular situation, china, telecom was given 16 days to stop, provide domestic and international services, basically out of nowhere. so trying to telecomm has previously provided telecommunication services for 20 years in the u. s. and serves more than 335000000 subscribers worldwide. it also provide services to the chinese government facilities and embassies in the united states. so this fcc action would force it to withdraw and it would have to basically sell its entire mobile services in the u. s . here, within 60 days without any warning, which is basically what they're saying is unjust and unreasonable. so china, telecom is going to fight this using the same logic, i show me and they've argued the sbc should have 1st held at least an administrative hearing, giving them a chance. and the

just the news alone that the u. s. may open up the strategic petroleum reserves and the idea that indian japan might do the same. i'm really not sure that can happen in japan because under law, there it prevents using strategic reserves to lower prices. but again, the, at least the appearance, right, of more supply should be causing prices to drop. correct? well it's, it's interesting been because you've got 700000000 barrels of oil in the strategic petroleum reserve. and we probably use 18 to 20000000 barrels a day to day here in the united states. so as you would say, quite a dumping of oil from the s p r to a fair process and they can't get it out that fast. it may be 2000000 barrels a day. they can get it out. what was your it can only go to a certain number of pharmacy. can't go to the east coast. you can't go to the west coast. so to me it's all smoke and mirrors. the strategic petroleum reserve is supposed to be there for our nation in crisis or catastrophic climate. of that, that might happen, which is not what

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 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

because many critics would say that the u. s. just 2 years ago was actually competing with opec, not begging opec to do more. why can't we get back to that situation? and is that entirely? again, a crisis of our own making. when you see us in the permian basin, they're going to produced $4900000.00 barrels a day in the permian, which will be record in the month of december coming out. that's incredible that we could do this in this country, but yeah, we have our administration look into overseas, asking them to increase production, but not put people back to work and get good clean. and that's what really is support here is the cleanliness of oil that we produce here in the state versus coming out of opec or bruship. we're especially canada, where we're importing for 1000000 barrels a day, easily the dirtiest all in the world, from how much they have to plan to burn their tar sands up there. so we should be putting people back to work here in the permian basin in mexico. and mexico too, because that's what's important for this co

the u. s. is one trillion dollar infrastructure bill was signed into law and it includes a host of crackdowns on the crypto industry. those factors may have caused bitcoin to drop by as much as 7 percent in the theory him by as much as 5 percent. let's bring in, bu, moscow, hosting crypto analyst, christy i to explain. christy i was talking about this infrastructure bill because one of the biggest challenges as we've talked about of this law, is it redefines who and what a broker is, how messy is this going to get for the crypto industry? oh, it will get very messy since a bill is mainly meant for the ira to have this well defined definition. but it ultimately risks asking network actors to behave as note operators in order to report identifying information for crypt transaction that they have absolutely no way of gathering. like actually no way of getting because there's no centralized database recording your email, your phone number, your social security number, except when you log on to send

the u. s. is releasing strategic all reserves to bring down petrol prices of to failed, attempts to convince opec to boost production what i will never extent. it's medius who under the guise, if we are dissatisfied and he's pure pilots gets people. but that prime minister lashes out to protest is off the night sobriety against tough you cobra restrictions. this case is search unlocked down to re imposed across your had the leaks. new york police survey shows that more than half of the cities offices, of which they had never joined the force. we hear about the grubbing crashes. we have reworked the officials who campaign on promises. we're going to actively prosecute cars for you.

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 when 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 when 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. and right, and i mean, the germans are basically 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 blasting for germany to go ahead and get the guy from russia. but the cremeans kind of saying, hey, the u. s. should not be involved in thi

and as we mentioned, the u. s. has been kind of hyper critical of the car towel, calling for more production as the country has made pledges towards reducing reliance on fossil fuels. it's often pointed out that the administration has done everything possible to stop us producers from drilling. so if the u. s. were to change those policies and kind of open that up. would there be that relief on oil markets? well, so what's happened is i done their best to get people to dissuade people from drilling in the united states. now, you know, try to ban offshore drilling, drilling apparel and here in the united states, they're putting in mentoring policies just this week to condemn the oil and gas producers and united states. but yeah, on the other hand, they're asking the dirtiest nations in the world that produce oil like canada and russia to, to increase more. so if you really mixed with everybody's getting and know nobody can just turn the tap and make no will. and we have to put out a whole bunch of really, rick, you

so if the u. s. were to change those policies and kind of open that up, would there be that relief on oil market? well, so what's happened is they've done their best to get people to dissuade people from drilling in the united states. you know, try to ban offshore drilling, drilling apparel and here in the united states, they're putting in mentally policies just this week to condemn the oil and gas producers and the yeah, and the other hand, they're asking the dirtiest nations in the world that produce oil like canada and russia to, to increase more so it's really a mixed signal and everybody's getting and know nobody can just turn the tap and make mobile. and we have to put out a whole bunch of really rig you have to have a lot of capital. and one thing you're seeing right now with domestic pollution in the united states is there's a discipline now not over drill like we did back in the 2014 to 2018 time period. so yeah, we just turn it right back on and nights and thusly. we're down about a 1000000