tv Business - News Deutsche Welle May 13, 2022 3:45pm-4:01pm CEST
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for crypto investors, the value of bitcoin and other crypto currencies has plunged the sell off, began after the collapse of what was supposed to be one of the safest crypto assets . the so called stable coin, tara, whose value was peg to the us dollar. terrorist collapse lead investors to dump it coin, which bottomed out at about $26500.00 us dollars. it was before at about $34000.00 us dollars. it has regained some ground on friday, but it still lost more than half of its value in the last 6 months. that also goes for the entire crypto market. it was worth about 3 trillion dollars and november 2021. it's now worth about $1.00 trillion dollars. now, given that crypto currencies are mostly used for speculation, economy, see the global follow out as limited with some exceptions. take, i'll salvador the 1st country to adopt that queen as legal tender. have a look in a market crash,
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regular investors might panic and run for dear life, but creep to evangelists, they just keep cool and bide the dip. that's what i'll salvatore's precedent now, ye bu. kelly div this week. i mean, one of the worst crashes in beat coins. history elite really bought the dip, spending $15500000.00 to add $500.00 beat coins to the national reserves. in september 2021 in a world 1st. el salvador adopted bitcoin as legal tender. but after its all time high in november, the virtual currents is value kept sliding until his weekly disastrous crash. val makella, who describes himself as the coolest precedent in the world. he is in phase by the crash and has bigger plans in the display of grandeur. sherry, illustrations, and models of bitcoin city the libertarian utopia, with no taxes to be built on the side of the dormant con chaco volcano. the international monetary fund is unimpressed in generate,
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it pushes salvador to digits, bitcoin experiment rating agents is feature, and moody event downgraded the countries rate to junk crippling its ability to access international loans. according to analysts, el salvador is now on the brink of default. now for wireless, let's bring in christy class and from d w. business and bond. christy thanks for being here. so we know crypto currencies are volatile. this is always been the case. why did some countries like i'll salvador a bet so big on it? right. chelsea. well, there are still a lot of attractive qualities about crypto currencies to these markets or to emerging markets. i should say, i mean, even with this major dip we're seeing this week, they're still over a trillion dollars worth of value in that space. and by making crypto current, these are bitcoin specifically into legal tender these, these countries, like el salvador, are trying to get some of that value into the country,
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trying to get investment through because i threw bitcoin there. there's also the fact that bit crypto currency is really quick and free to transfer. so making remittance payments from a broad back till salvador, for example, is a, a big positive for them as well. so there are several reasons why they've gotten on board there. what kind of economic impact can we expect us to have the self we've seen this week on their economies? right. i mean, when this volatility we're seeing and seeing how invested that el salvador, again, for example in, is in bitcoin, there's obviously going to be of some sort of major impact here. as far as i understand, el salvador has put, you know, somewhere over a $100000000.00 into bitcoin. and now with this recent dip, they've lost somewhere around $40000000.00 a dollars in big coin. that is actually more than the next payment on there of foreign bond, a port foreign bond payment coming up in june. and there's some chatter that they might actually end up having to default on some of these payments going forward. so this is obviously a major, hadn't
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a major concern for them. so looking just more broadly at the crypto market, obviously we've seen crypto markets meltdown a lot in the past. is this just a temporary blip? is it something more meaningful? right, well we're in a different landscape now than we were over the last years. interest rates are rising. they, we don't have money flowing, government money flowing in from the pandemic anymore. so cryptic currencies are going to have to have a reckoning with the new financial environment that they're in now. so it'll be a matter of weighting and seeing, but it's certainly not the same type of crisis we saw in the past. christy plots and, and bon, thanks so much for joining us. now g 7, agriculture meter ministers are meeting today in the southern germantown of stuttgart to discuss the worsening threat of a global food crisis. exports are now being disrupted, due to the war, and ukraine pushing price is higher and making food on affordable for the world's most impoverished people. humanitarian relief is also being affected and 2021.
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ukraine was the largest single source of food for the u. s. world food program, which works to feed the most vulnerable around the world. and for more on this, i'm joined now by sebastian has a professor in agriculture at the university of holland heim flesh, and thanks so much for being here. so the 7 leaders are meeting here today and germany, can they really do much to avoid this global food crisis that many are now worried about? well, good afternoon. thank you for the invitation. agriculture, long term business, agriculture respond to netflix. i hope so. it's very difficult to influence agriculture, production grain production on a monthly basis. it's almost very new that can be done immediately. so of course there are more measures, but primarily it's about monitoring your rate of stocks and monitoring grid.
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immediate food shortages might emerge. so one major factor at play here is obviously the war and ukraine. we've heard a lot of reports of grain sitting in ukraine not being able to be exported. tell us more about the situation there. is there a solution on the horizon for that grain? there is surely still ample of grain in ukraine sitting in storage facilities, but because most of the grain usually leaves the country through the lexi port. this is currently blocked and now the challenge is for ukrainians to bring the grain out of the country by alternative transportation measures are currently there are major attempts being mounted to transport grain by railway and trucks out of the country. but of course, that's much more than i'm the was much lower and it doesn't have the volumes, a ship transport it can bring. you mentioned stock piling as a, as a risk for the global food supply right now. what are you afraid of?
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well, of course we are facing this crisis ukraine against the background of an already temporarily. well, limited supply of no grain for we have seen rising prices already towards the end of last year. this is not unusual. this has happened in the previous 15 years, occasionally, and this, this would have been, let's say, somewhat normal period of rather short supply. but now we have to on top of that. and then of course, varies, varies net food importing countries lot. but of course, buyers of grain all over the world to market participants are extremely nervous. there's a lot of uncertainty and of course in the very short term debt not, not terribly much that can be done in order to increase the supply. so these of course leads to reactions by individual household firms,
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but also by some countries to hold back a grain supplies in, in the field of continuously rising prices. but this is simply a problem because this can only aggravate the crowd. boston has from the university of her home. thank you so much for joining us. thank you very much. and it's not just the availability of food itself that has been disrupted by the war, but also the fertilizer needed to grow it. and africa. some farmers have turned to making their own, as the cost of commercial fertilizers skyrocket. in uganda, the price for some important but lasers has more than doubled russia. image a supplier is facing international sanctions and the gun and importers and consumers, a filling the report. faked customers are not planning to buy because it's very expensive. it has affected us alert either yes, asking the price as the more vote,
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because it's very expensive. now you get to know because you're scientist, i be a little bigger. he's offering an alternative it comes from the small fly called the black. so to fly, which has been found to be a source of organic from lasers. it is exists within the in that environment, bailey, it's a matter of attracting them and then use that bidding them one flight is about average one, poland eggs in about 4 days the eggs growing to larvae and when levy grew into a doubt, flies they leave behind a pew by reaching nutrients for and more feeds. and this or use you're getting there. if a to laser and organic foot lay that is very lay a boy you, you produce it on site to produce it in quantities you want. and then you also get an alternative protein source for in case of being livestock. do we go?
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what the, the dutch founded company, quote, marolla protein. the company receives funding from donors, like voluntary services overseas, to train local farmers to produce their own foot lasers. we started with 10 farmers, but today they're over 1200 rosen, that she again da sees. she could not afford 4 lasers until she was trained to make her own or because if there was available resources at my home, such as food leftovers, that i would have thrown away to get fertilizers and i do not spend any money on it . apart from my energy from wildwood are mine, capella, copy to city authority has no partner with marilla protein to manage the cities west problem. as the lovey can feed on organic waste. they now produce over 2 tons of foot lasers per day, but still not enough for farmers. we have gone as a standing order as of, of 2 tons of one ton of 3 tons of 5 times. and we can,
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we can, we don't have the capacity to fulfill that spot does. or does luca hopes this can be an opportunity for africans to fly away from depending on imported from lasers on the tiny wings of the black. so to fly and staying with feeding the world, thailand's king maha has your long corn presided over the royal ploughing ceremony . marking the start of the rice planting season. as part of the tradition, a pair of oxen are offered. 7 types of food predictions are then made as to the success of the coming harvest based on which they chose. the animals enjoyed of rice, maize and grass, meaning there'll be plenty of food, fruits and water for irrigation thailand is the world's 2nd largest export of rice behind india. ah,
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ah, how to rescue food and solve india's huge wasted problem. stored up in new delhi has the solution. it turns tossed out into animal feed from 50 city. the project is finding consensus. not just among the coun, eagle, india, ah, 90 minutes on d, w. we're all set to go with all in. as we take on the world, we're all about the stories that matter to whatever it eastman following w on fire made for mines. it's not
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a question of whether the next crisis will come. but only when and how the media will deal with it. how can we stay focused on what is important? shaping tomorrow. now, exploring opportunities for media professionals in times of crisis. the global media for june 2020 to get your ticket now, a rare natural spectacle in an improved world. the mass boobies have returned to the coast of the highway of st. oh. with any success stories? fashion of biodiversity stores may 20th on d, w.
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a. ah, this is due to be news lines from berlin push for peace. germany's chancellor urges russia to agree a ceasefire. with you, great, olaf, schultz asked president vladimir putin to end the conflict as soon as possible, but potent blames ukraine for blocking negotiations. meanwhile, ukraine is firing back against the kremlin calling on allies to scenes russian assets, russia mos, politically, economically, but also financial.
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