let's talk about there is a significant risk of human extinction from advancing our system. our series continues to dw the do you think that money rules and not just in the business world, but on the political side, to take banking local, jp morgan for cornelius vanderbilt, with his railway empire to major american financial figures with both monopolies and influence on the government and today is tight coons, likewise make generous donations in the hope of helping the candidate who best serve their interest when in election. also on this edition of made trading tear of the difference between trump and harris. any quality,

the growing gulf between india is rich and poor plus cast crisis will all payment soon be going. digital running for the us presidency is incredibly expensive. it seems like we would have a kind of record amount this year if the current trend continues. this has been a very weird election cycle. election campaigns need to raise billions of dollars. i've never seen anything like it so quickly in one month, over half a $1000000000.00. where does all that money come from? where does it end up? and is the system harmful to democracy? donald trump needs money to fund his campaign. merchandise is one source of income, but big donors like you learn mosque and others are more important. the reason

people give money is their passionate, their ideological, and much more than the rest of the american electors that mix the candidates go apart. okay, so money is having a polarizing effect. it's not just money to make deals. a lot of that big money is coming from people who have strong feelings about issues. the us is deeply divided politically, both donald trump and come a lot higher as we'll probably have more money available for the election campaign than ever before. in 2020 funding totaled almost $7000000000.00 and we will when there are typically 2 ways to finance a presidential election. the 1st is through donations. only private individuals are eligible to donate and are limited to a maximum of $3300.00. the 2nd more important source of money or the super

political action committees, or super packs. these are officially independent organizations. that campaign on behalf of one of the things and today's company use organizations or private citizens can donate to them without any limits. while super packs are not allowed to pass the money onto candidates directly, they can participate in other activities such as financing tv commercials. super packs also spend vast amounts of money on researching and how to best reach specific groups of voters on various social media channels. for example, to hi, this is to we do have a kind of shadow system that sort of operates at the periphery of this. there's lots of legal rules that apply to groups that operate in that space. they can't give money directly to parties and candidates, for instance. they can't coordinate formally with parties and candidates, but they can run a lot of ads that can affect the elections that look just like the ads that parties

and candidates run in fact. and a lot of those groups actually can of a disclosure. but want to influence, does all this money have on actual policy making? what we see is that donors views tend to be represented in the political process in ways the average voters are not. and so i think that's the real concern is that there's a representational worry that um, people who spend money get their views heard and people who don't have money, which is largely a function of just how much money they have, not their willingness to give to just get represented a lot less and that's a real problem in a representative democracy. and what does all that money ultimately mean for the outcome of the election? or just the candidate who spends the most always when so much money is spent. that last dollar doesn't make a huge difference. plus the fact that so much media attention is focused on these

candidates. that at the end of the day, the campaign is it's hard to tell if this money makes a difference. no other country in the world comes close to spending as much money on elections as the united states. and so far there's been little resistance to curbing the sums involved. and the associated influence. money is also a big player in the world of global trade. government subsidies can help companies to export their products at lower prices. the country of destination, however, will then impose tear ups on those products to protect its economy. staging and washington are in one such ongoing trade war. but will that change after the upcoming us selection sample power?

so i'm not a, has worked in orange factory for 25 years here. we're putting in the bonding, hey, it's basically a you be here. it's a company. he says he's proud to work for retractable technologies, make safety syringes with retractable needles. the pen demik, along with millions and federal funding catapulted in a smaller scale enterprise into a major supplier for the us government's cobit vaccination program. but postcards i make them and has not been quite as robust now. the syringe maker, which has some production at home, but purchases and the majority of its product in china is bracing itself for a new dose of paint. in may, the biden administration announced terrorist on chinese in ports to take effect this year. some of them like on steel or electric cars or increases on already existing duties. but some of them are new, like on syringes. ahead of the election presidential arrivals,

donald trump and counselor harris appeared to have little in common. you have the continuation of trump era tariff and the introduction of new ones in the biden. harris administration could be assigned that whoever occupies the white house. next is likely to continue to wield them. but economists still expect different approaches from the to trump is talking about anywhere from 10 to 20 percent tariffs univers on all products that are coming in to, to the united states. i haven't seen anything on the harris side in terms of, you know, universal tariffs on all products. uh, the parents that are being discussed tend to be much more oriented toward china. and much more of the nature of focusing on certain products that are seen to be heavily subsidized so that they're creating that unfair competition. in short,

trump is thinking of broad terrace for all imports, while harris is likely to adopt narrow china concentrated ones. but for it's part of the syringe making companies leadership says they understand why tariffs are in play. so we're not against terrorists per say, it's a tool is gonna hurt us financially, but we're still going to do it. it's just that it was a destruction of a further destruction of our ability to bring new products to concentrate on other things, to slow down a little bit. it could do exactly what they want, create competition, create jobs, and give them their records independence on. so ranges and every country should have independence on their healthcare needs, because you never know when you're bored or should kind of get into this situation where you can't get stuff. so we're all in favor of that. let's just do it right. that's what we're asking. the company says doing tariffs, right, would mean allowing them time until next year to shift the most important parts of their production back to the us and letting them compete with bigger players whose

operations are already mostly in the country and unaffected by terrorists. but in recognition of the likely reality, under a trump or harris administration, they're not asking for the tears to go away. those are likely to go anywhere, no matter who is elected. the money also divides society is of course india has a population of 1400000000 and is one of the worlds fastest growing economies, but have seen a dramatic rise in any quality in recent years. as we look at the gulf between rich and poor, we made a man whose business has been flourishing amid india's economic success. and on the flip side, one of countless families struggling against constant hardship and societal barriers keeping them poor. early morning and veteran nancy in the north of india, his monte db prepares t still using firewood. she used to live in

a mad house with her 7 children and husband. now they have a better house funded by the government. they're still poor, but never the less her living conditions have improved a lot over the last 20 years. i actually study where things have changed now. since my joyce's bus, we can even feed the castle, scratches of the bread we bait ideas, and we didn't even have basic amenities. so when it was, how do we use 10 phones and we weren't able to sleep because of the heat. now we have electricity in the house, so we have an electric fund box and we have light to be. but i thought about the but i thought the rush hour in delhi and in the barber business, just the ones who can afford it. come to him. joe would have be business shooting star. he owns his own nationwide brand, with more than 900 franchises. his idea has made him a rich man. this 60 year old business man 1st started working in his father's hair

salon. so many i studied french because i never wanted to take over my father's business, cbs, and if i wanted to do hotel management next, i'm not. so i went to do all out and there were university of junior and then i was sent to london to learn about the business that i gave. will i get you a body guard? because at that time i was working at mcdonalds as a student. and it was there that i realized that i wanted to come to mcdonald's of has styling inventory. that's why he started his franchise business bank to veteran dollars, which is also the constituency of prime minister and to render embodied millions of people in india still loved liked is the largest number of for world wide. as in india, experts say the subsidies. these people get from the government are not enough. indian society is divided. 63000000 indians are pushed into poverty every year

because they can't afford health care costs. they would take 941 years for a minimum wage work or in rural india, starting with a top executive at a leading indian garment company, ernst and one year. at the same time, their 119 billionaires in india, still roaming 9 in the year, 2000 from 2018 to 22. india was producing 70 new millionaires every single day. i think there's no doubt that any quality has increased dramatically in the restaurant is and that is a function of the kind of economic growth that we've had. so earlier we've certainly had any quality of many different guides by class. gosh, gender location is the one with now we've had an extreme accent ration. and particularly in the last decade, the incomes and assets of the top 10 percent of the country, the top one percent of the country have explored it. back to the family and very

nicely mother and daughter are speaking to family members that move to the city. god happy with the guy that the the education here is key. it's also why the youngest daughter is so keen to empower the children in the village. so that they'll have a better life. later on, she started teaching the girls things to an end g o. nevertheless, she continued her own studies and wants to make a difference in her family. this is amaica amaica. do people go to when i wasn't working? my parents used to pressure me mcnamira buddy was in the meeting, he's having an issue, but since i joined in n g o and began earning money, nobody asks me about marriage anymore. so i get a feel good because if me day and i'm is so not interested in it that i'm in the boxes, you need good dad. didn't know if you're interested in english because that's the same and almost all the poor families, the family members have to contribute to the family income and rich families. the

parents don't depend on the children. they send them abroad for their studies, like joe, it had even daily, for instance, he sent his kids to europe to study abroad and has a decent life and deadly for the wealthy class in india. and this is quite common. the son i've got a son, i know his name is an osh notes me, but i know she has learned to cut half like but now he handles the corporate office in room by law with my wife shuttle us between do by in india because when my kids used to study in london, she used to live with the method that my daughter settled in the job. i have to be fine because she is still very close to it. my wife keeps struggling between 2 by one by and delhi for me. and so, but, but only a few people in india have these opportunities. and this is how the rich and middle class and india,

which are in $500000.00 groupies or even more per year through so fast over the last 9 years. the ones that grew faster than average were the middle and rich classes, not the for ones. so if you have thoughts, and you've been more attention to these distribution, especially in the country like india, where they are also dealing with very serious social inequalities. so you have to do something so that they're all at the beginning of their lives. they start at the same starting point. charlotte knows about the inequality in society. he's teaching people on the margin this like this blind man. he runs 7 academies and trains around $10000.00 barbers per year are $32.00 that his mission looks like he wants to give something back to the country that made him a rich man. what a lot of india was considered a poor country. education has changed me

a lot to me and we have bought it's told me that in india, doctors and engineers on need. it is however, even in this india, a father could also become a successful brand product. and that is not the what would the foundation of this success be the best edge occasion, education and education education in the village. it's time for the harvest. the main problem, the family belongs to a lower cast, and that means they don't own their own lands. that always leaves them dependent on others to grow grain for food. a big reason for the inequality that a tv i find, but my daughter works outside and it helps me with reading prompting and harvesting because of my husband, my son, everyone patches and putting up with my son works in the city. but he still helps the by doing this, we produce grain for ourselves and also a little money. and we got that's how we survived that. that, that you left the story we've had wage depression and in fact,

reliance on the unpaid labor of women and the look us and so on. but also we've had the exploitation of, let's see, those who don't have political voice. so for example, of the traditional dwellers, debussy's was lines, had been appropriate and lightning for other kinds of things. at least some things in the village have changed. for the better. the government provided guest cylinders for more than 100000000 families. the problem is they can't always use them due to the infrastructure and the high cost of refilling the cylinders, so they often end up using firewood. overcoming inequality will be one of the biggest challenges for then governance. and might even slow down economic growth the some people really saber their cash, but those to india minority. many countries are planning to go cash less,

a move that won't end poverty, but shouldn't mean greater convenient. put our digital payment systems crisis proof . and as your personal data from prying eyes, the digital payments have gone global in many countries. cash is slowly on its way out. various governments are developing plans to further limit cash payments like india. but what are the implications could digital money with stand a global crisis? and what about data protection and privacy concerns? when credit cards were 1st introduced, transactions were recorded using a manual credit card in printer, one carbon copy one to the customer, one to the merchant. and the 3rd went to the credit card company. a few days later and electronic credit was issued and

a change appeared in the customer's account. in the 19 seventy's credit cards took off as a convenient alternative to carrying around the cash. oh my gosh. the use of cash is continuing to decline in india as well. in november 2016, the government announced a program to tackle money laundering the modem, a bond, so it will be done as of now, not all the all $501000.00, repeat the notes on the pieces of paper. the move took some 80 percent of the country's bank notes out of circulation, millions lined up at banks to exchange the band notes. but many hundreds of millions of indians had no access to a bank account. yeah,

i can't get any money. the government is carrying us with this program. i haven't slept for 3 days. you can't imagine the pressure i'm on the navy. the government initiative was intended to tackle corruption, but it also pushed many indians to begin using credit cards and to mobile payment apps. and many other countries likes and netherlands stores are no longer accepting cash. they've gone to the cards only in sweden to many businesses, no longer accept cash payments. in india, about half of the population do still use cash, but it's now among the top countries in the world when it comes to mobile based real time payments. with these systems, the payment reaches the merchant's account. instantly. india is the global leader in real time transactions which makes up some 81 percent of payments. next is thailand at 64 percent in hong kong. the figures about 25 percent followed by south

korea and singapore and written at 11.7 percent banks and credit card companies charge high fees for digital payments. so for them, it's a good business. worldwide, the amount of cash in circulation is declining. most governments are now working on plans for digital currency. like here at the european central bank, which is leading the foundations for a possible digital euro. does that mean cash will be abolished? the idea is to provide a digital compliment to cache. so the cd will provide to citizens with those, the traditional, the bank notes and coins that you are familiar with, the material ones and with a new means of payment to get you for euro. but they will be complemented not substitute wouldn't digital currencies be able to, whether a crisis like

a global computing outage. that's one reason why many economists say cash shouldn't be abolished. so you can see that if this is the all the metrics because the only source of doing your transactions, then it is susceptible to these guys. so one of the things that you just talked about because, and it becomes a single point of view. and there are other risks, even today's social media companies are storing every post their users make, they're collecting photos and subjecting them to a analysis. then there's the financial data being scooped up through digital payments. digital currencies would make data privacy even more difficult. in the as past data protection legislation, but critics say the laws to more to benefit corporations than to protect citizens. so it's a very bizarre visit to the data for the extra issue is that we have no way,

but the concern is not with the liabilities that they expose my best tool by 9 use digit the apps or digital payments. but you either to know and to make it to be the 4 entities to have access to might be bad to use it just so i think, you know, kind of with the digital currency the digital euro will be stored in a digital wallet on your smartphone. you'll be able to move money from your traditional bank account into that wallet and make payments using your smartphone. but if you prefer to keep using bank notes and coins, you can. the idea is to restrict the use of the digital bureau, just all their payments using it for a larger amounts good. otherwise the stabilize the bank. if customers were to transfer all their money to their digital wallet, the payments with the digital bureau could be made online or offline

direct from payer to pe, he which affords more privacy. another advantage service providers like paypal mastercard and apple pay charged fees. but pain with the digital euro would be free of charge. the payment across a national borders would also be possible. the potential drawbacks consumer watch dogs fear it could replace cash completely and that consumer behavior could easily be spied upon. but the gc being system, it will guarantee privacy and the digital euro will compliment not replace bank notes and coins this addition of

made was all about money, which can make you happy, of course. but it is also a source of power and temptation. crime doesn't pay, they say, so do value your cash. but be aware of the more sinister side of money, the, the, the

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. this is the w news live from button b. is there any military admits it's 1st come back to as its forces move into 11 on israel, says it has destroyed more than 150, has fullest sites in southern lebanon. that has, the law says it's class with is rainy brown. meanwhile, israel assesses the impacts a day off to being targeted by a barrel as, as a rainy and missiles, several buildings would damage, but at least one this and several injuries reported israel says it will retaliate, retaliate.