thanks to music. ah, he was the nazi's favorite conductor is morally degenerates to musicians under the swastika, a documentary about the sounds of power, inspiring story about survival at home. i don't get the cellist, i was the only one. what lies and look music in nazi germany, watch now on youtube. d. w documentary. ah, ah, ah, ah, ah. once upon a time with banks were considered a thumb of the faithful places to park your cash. but recent events i have called about into question prompting fears we could be on the brink of another financial

crisis. we'll delve more into that in a moment, but 1st, a little taster of what else is on the shell. by russian tech workers are heading to georgia. how to turn a diesel boss green, and flying a kite to harness the power of wind. i'm paid ferguson, welcome to made so glad you could join us. the recent collapse of silicon valley bank, a prominent tac lender ascend shockwave, across the financial system, as well as highlighting gaps and regulation. it also exposed vulnerabilities in other institutions like credit suisse. the sudden downfall have jogged memories of the 2008 financial crisis. and sparked fears of a similarly disastrous contagion. but are those concerns well founded? i reported most yadda schmidt spoke to an industry insider to find that 1st one, then another. and yet another bank starts to flounder. could we be facing

a domino effect in the banking sector? monday. so now you can see the markets are nervous sites, both in the us and europe. such as stephan is a banking expert, in by the one where mo banks go bust when we actually see a domino effect with yes, my younger mr. domino with the time being at least we seem to put the brakes on any domino effect grant un mission. the decision to essentially protect all deposits was an important one. and not just for the s b b bank, which is actually in trouble. but also to be considering that for all u. s. depositors in order to avert a domino effect. a of course that doesn't mean that the risk has vanished as damage. elisa can partition. that's because other banks in the

u. s. and elsewhere have a problem. they invested customer deposits in fixed interest government bonds to manage risk during a time of low interest rates. but now interest rates are rising again, causing the bonds to lose value. when investors begin to worry, a bank is crumbling. they withdraw their funds, and the bank runs out of money. is a psychological fact is playing apart and causing people to panic or draw their money and get our muscles harness up to not well, what's panic and what's rational. in the u. s. we are currently seeing a drain and cash reserves at smaller banks, complying with bunk, i have extremely wealthy customers who figure a big bank won't be allowed to fail, they'll be bailed out damaged, you get mistakes, so why not just move my money? they're good that that's an eminently rational line of thought to my luggage dunker . does the looming wave of bankruptcies threatened to spill over to germany or all

of europe? are we facing a repeat of 2008? mm hm. shaun dust in. oh hi. i do believe it seems that regulation is applied differently and ural and to a larger number of banks in the office. what? well, that's at least what european bankers say, and that's why european banks have been grumbling and recent years like when you all the stricter implementation of banking regulations, treated and unequal playing field for the u. s. in europe conscious bank, nick, american banks were able to earn more than european ones, went yet, but now european banks could be an advantage if they're now better positioned. that credit suisse is a european bank, and it also got into trouble. so what now? that will mock money huge lest hello, how about a stress test format? that the regulator could quickly decide to take a look at interest rate risks, and whether banks have enough deposits to whether a shock is equal on that gives them a sense of how stable the banks really are. my, my, the, i'm check with the bank. i think in closing, the banking expert has

a question of his own on the net. no, just going to show if he does not finally. and i think it's a justified question because of how much of the banking business relied on the conviction that the taxpayers or the state would provide a full guarantee on deposits. and you guys just did this, give banks a license to take risks because any losses would be covered by the state law. says kelley batten. it's an interesting question. to what extent do bank factor in state support when they're conducting risk analysis? since the last financial crisis efforts have been made to strengthen regulation to ensure there is no repeat of what happened back in 2008. but another argument you often hear is that no matter the trouble, a lender or a business may be in the market will fix it. but what does that actually mean? and does the premise make sense? ah, the market blessing o cuss,

the market will regulate itself. the market feels efficiency, growth and innovation. phrases you often hear from the lips of economists and business journalists. but does that mean the market is an entity of its own, unassailable? some kind of omnipotent monster? where does this view of the market come from? well, it all started with the british economist, adam smith in 1776. he described the market as an invisible hand, although companies may act for their own benefit in the end, their action automatically benefit society as a whole. astern economist kaitlin from hyatt went one step further. at the beginning of the 20th century, he saw the market as a force that transcended human consciousness operating as if, according to the laws of nature. and what does that mean to day? a boss might be responsible for lay offs,

but only because the all powerful market demands it. the supervisory board members approve of seen the high salaries will top bosses even after a series of faith is not by choice. but because the market dictates in and critics have you, capitalism as a predator to be tamed are effectively suggesting that the market economy is a creature with a mind of its own. others argue that this is false, that the market is not a living, being with feelings, fears, or diseases. it is dead, or rather, it was never alive. the market is a man made construct that doesn't have a will or purpose of its own. it's the actors themselves that determine the rules. so it's not the invisible hand, but people who determine how things turn out the market isn't a blessing or a curse. but both at the same time. mm. russia more and ukraine has caused untold suffering. those who remain in the

country live in constant fear of bombardment. families have been torn apart, and a generation of men have cast aside their previous life plans to fight the invasion . but on the other side, with in russia, there are those who oppose vladimir putin's war. hundreds of thousands of them have fled to the crocodile on defense of the military draft. many heading for neighboring georgia. among the co horse of new arrivals from highly qualified and much sought after i t professionals. but to me on george's black sea coast has become a magnet for thousands of russians. among them is maria from st. petersburg, like her compatriots, protesting here, she is firmly against vladimir putin and the russian invasion of ukraine. mm. maria was a supporter of opposition figure alexey navine, who is currently imprisoned in a penal colony. she sees no future for herself in russia. will bring up

a demonstration like this is possible in georgia, in russia, they just look your way immediately. russian citizens do not need a visa to enter georgia, which made it easier for maria to make, but to me, hun you home. the same applies for elia. he fled after being called up for military service to fight putin's war in ukraine. yeah, navy, i see no reason to be part of this or you military operation. but more it's not justified. i'll over my parents have a very different opinion, but like on my ebt additionally, we were always arguing about it. i knew that the arguing came from nothing's conflict. me pretty well. there are millions of families who have this conflict here in the, on the it makes me really sad that we can't agree on the assume when he was on my job, say, look hillier lives in an apartment here with 4 other russians in his home town of catherine book, he worked his an i t expert for a blank room to prove sort of

a pepper they were. he also had a side job as a fashion model for brooklyn, adams fell articles benevolent with that's the part of his old life that he misses the most was male too. though leo of naca, the fashion industry is nonexistent in. but to me, there are what's there on any shows like i'll just the occasional photo shoot off of the ceo mac ah, the modeling agencies are all in the capitol tbilisi. read them to us. here i am, but it's really expensive to live there because there are so many immigrants in them. the cost of living and between me has risen since the new arrivals from russia started appearing. maria pace, 500 heroes. a month for her small apartment. she took in her pet dogs, betty, just a few days after arriving and but to me, maria is financially well enough off in russia. she had

a highly paid job in programming with an american firm. and she's now found a new employer based in israel. the georgia nor socrates make it fairly straightforward for the russians to find their feet, granting them residency, and what permits within a matter of days? router your water program, if from i registered as an independent contractor, which is easy and only takes a couple of days. yeah, plus taxation is really low for small businesses are only one percent of your income up front. but it's a unique and very attractive situation for i t specialist, which is a big reason for so many programmers coming here. although there are tens of thousands of us require under sub capacity. ilia likewise owns his income online. as a programmer, he continues to work for his employer, a bank in russia, despite having fled military service. the 24 year old is optimistic about his career prospects. since arriving in for to me, he set up

a club where new comers can learn how to make money from mastering strategy games. is there a mr. become successful business people and get ahead in life? ah jaga as well as the club is based on cash flow, you get up for a game that involves financial literacy rather than is of huge interest among modern business. people like law. so the events are always fully booked, which makes me really happy way. the way it, sir, it is today, the average go ideally, maria would like to move on from georgia to the you. the problem that is the red tape and general difficulty in being granted entry, especially with her russian passport about to expire, to bidding with me if it's in pity, we want to go to spain or portugal, but i have to wait to get a new pass. since the war and you train its being extremely hard to get

a new russian passport from here, it takes at least 6 months. so in my case, probably in the fall or the introduction of football support for the course of the russians have given a boost to the economy here in a country with precious little manufacturing or heavy industry. but to me is primary erna is tourism television because there are lots of cafes in town, catering to russians and other refugees of a mega, but it doesn't bother me. i'm a courier. i'm a student and it's impossible to rent an apartment here because the price is growing and growing every day. so it's feel like i'm, i'm too busy and not local them because every, via their rushes do at least toner rated. here,

the 2 groups actually live parallel lives. russia is the big lives because it's young, highly educated people with modern qualifications who are turning their backs on the future regime and who are in no rush to return. the future of mobility is electric. i'm here in europe, at least we're ready thing big strides towards making public transport greener. if we look at the 1st half of 2022, for example, we can see that the united kingdom issued a total of $350.00 new permits for electric buses. next up was germany with 2, a 146 with france and denmark coming in 3rd and 4th place respectively. while that is solid progress, that certain challenges remain electric, but those are often prohibitively expensive. but what if there were a way of making the shift to green energy, more cost effective lou,

this is the future. an e bus taking on city traffic. for now it's a rare sight. not even 3 percent of the buses on germany's roads are electric powered. so there's still a lot to do if germany's public transport system is to be climate mutual by 2045 as planned manufacturers can hardly keep up with demand even though an electric power bus is twice as expensive as a diesel one. what about just upgrading older models? no hope of on there are 800000 buses on the roads in europe, english, scrapping them all in the name of c o. 2 neutrality doesn't make sense. and we would like to electrify as many of these vehicles as possible as a way to supplement new vehicles again. so we are planning growth across europe on i 2026. i would like to convert $5000.00 buses to it was $26.20. who to can from 1000 was almost a retrofit upgrade as environmentally friendly and cheaper.

it costs around half as much as a brand new hipa. old motor out. new one in sounds easy, but it's not the engine used to be where the batteries are now. and the engine is now in the tires. it's called a wheel hub. moto, it's much smaller, but much more efficient than the older ones. yeah, entity gotten meagan, mac a mega market is currently being created here will be broach and that's also a big point of criticism that we as germany weren't on the forefront, young ally, we waited for others to do the work while we kept developing our 6 shoulder diesel or gasoline engines? that's why we're now stepping up our efforts to catch up on getting help. we can see that this conversion concept will work world wide. and that's what we're

working toward. of get off his engulf. he said, retrofitting old muscles instead of buying expensive new ones. it's one idea in the fight against climate change and one that doesn't only work for buses. thinking of ideas to fight climate change. here's one you probably haven't thought of yet. flying a kite in serious. you may how fond childhood memories of running around after a kite. but have you ever thought about how much power it holds at high altitude? it gets pretty gusty up there. and the quest for the very best way to harness that energy is already well underway. ah, do you remember what it's like to fly a kite? my brother and i loved it, growing up. and so did the maid team with a bit of tugging pulling and running. the kite soon circled higher and higher. if only the string were long enough, maybe it would fly higher than a skyscraper. it felt like it almost developed powers of its own. because up there,

there, a winds of unimaginable force. high altitude, wind is the largest yet untouched source of uber energy world lights. hundreds of meters above our heads, there's enough wind to generate more power than the will knees. if only we would harness it. so why don't we move to answer this. i'll tell you a story about brilliant ideas on failed attempts of a race to the sky. amazing potential culprit buyouts and passionate scientists. the more can you see on this mountain, the strong with the wind. this is the wind close to the ground, the time that drives wind turbines. and this is when several 100 meters up.

when it higher altitudes tends to blow stronger and steadier meaning decimal energy . how much more exactly this much. with each doubling of the wind speed, we can theoretically generate up to 8 times more power. pickin directly start, why it's estimates me. so if you look at a convention with rice, will you be successful? large scale insulation. this is professor modes deal. he had the department of micro systems engineering and mathematics at the university of fryeburg. so you see all the sky above the convention tell once you think all those wind energy is just blowing there and it's not you try. oh, if we could harness winds at higher altitudes, that would mean potentially generating several times more energy than with wind turbines. on the ground, and this gets us to the one question that's been haunting scientists and started

for decades. how i'm with are engineers, have been building viable light wind turbines. some of them had even founded small companies, a bigger operation launched in 2010 u. s. company alterra us came up with a generator attached to a helium balloon. it was tested in alaska and reportedly harnessed energy at altitudes of up to 600 meters. around the same time, german company, sky sales power developed a high altitude kite to pull the entire container ships. the idea was to save on diesel up to 10 percent according to its inventors. d. w reported on its launch back then. thus is the, this is the 1st cargo shift across the ocean, pulled by a kite on failed. yeah, personally, i'm not convinced yet my the test worked, but the captain skepticism proved to be well founded. the shipping company went

bankrupt, anita the ship kite, know the wind turbine ever hit the market. but both prototypes pointed to one thing . to harness high altitude winds, you need flying power plants. and then to google and 2013, it pulled the airborne wind energy company macaroni for an undisclosed amount. for me, it was a very, very positive news. this is stephane volga, c o of sky sales power. the same company that tried to make ship pulling kite's happen. let me meant that a big international player was a lot of funds available. i was starting to bet on this technology with google's money on board. ma, connie became the leading technology. it's flying power plant was about the size of a small aircraft. a climb to an altitude of around 300 meters are circled and a continuous automated loop. and they could actually say the, the increased speed that you get from circling in order to slow down the kite and

harvested energy like little returns on the car. and i always thought this is a bit crazy because of the amount of energy you wouldn't use novice generator. they would be heavy and song. but it turns out that the smaller and generators, this is a possibility just one device generated enough energy for $300.00 households. according to mccartney, it seemed to be the breakthrough. everyone had been waiting for but suddenly things took a turn for the worse. suddenly the leader of a, i mean leader at that time in the field was going down. ready ready this is richie cash yoshi, he's a wind energy researcher at the university of delft in the netherlands. one drone crashed during a test over the sea. to everyone's surprise, google's parent company alphabet decided to drop the project in 2020 expressing doubts about the technologies, economic viability. but definitely it was let's,

let's, let's say a shock because it was the we expected that google might be supporting it, reaches commercial lab lithia, the end of my county didn't spell the, an for avalon wind energy. a new wave of startups is kept working on smaller and smaller devices that use less and less material. some, pursuing my connie's approach. others attached their drone to a rope which took to the generator. and some did the same but replaced the drone with a kite. among them is a familiar name, sky sales power. today, the company has a new device. it uses what's called a pumping cycle to create energy. the kind tanks off automatically directs itself against the wind and, and winds a rope from a generator. it flies in a figure of 8, constantly tugging at the rope on creating energy. the kite can stay up in the air

for hours, days, or weeks at an end. in the event of bad weather or danger and alarm is triggered and the current can be brought back down. according to sky sales, it can create energy for up to $500.00 households. using 90 percent less material than traditional wind turbines are so good for logistics. so you can bring these devices almost everywhere. you don't need a large crane capacities, roads, infrastructure to bring these systems to the people that need renewable power. there's nothing wrong with traditional wind turbines. they work, they're cheap at scale and we urgently need more of them. but airborne wind energy companies on here to replace turbines on the ground. they want to add to them. 1.4000000000 people globally are living off. great. a many of them currently power their homes with diesel generators, with those of them. but what you could stop

them operating and st land as long. it's still early days, but sky sales has already sold a 1st device to maricia us. the vision is to operate floating kite wind farms off shore, and the industry sees and even bright future ahead. ebelin wind energy could become significantly cheaper than diesel and even cheaper than traditional wind energy. so yes, high altitude wind energy could be big. but the still a long way to go. it will need a lot of investment and airborne devices throw up a bunch of regulatory questions around air traffic. every kid can fly a kite but tapping into the winds high up in the sky and bringing that power down to earth takes a lot more. the race for the skies is well underway. that is what i call please sky thinking. and on that note that brings us to the end of

this edition of may. thank you so much for watching until next time. for me the entire team here. it's good bye ticket ah ah ah ah ah ah with

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managed by frappe waterloo. ah ah ah, this is d, w is coming to live from berlin, the final day of changing things, visit to russia, the chinese leader and president vladimir putin. hale, a new era in bilateral ties, further closing ranks against the west. but can trenice still be a broker for peace and ukraine also coming up with a powerful.