tv The Evening Edit FOX Business September 19, 2018 5:00pm-6:01pm EDT
5:00 pm
worth now. once the world realized it was one of less than 20davinci paintings that remained it sold at auction for a record-setting $450 million. half a billion dollars. melissa: from 10,000. unbelievable. that does it for us. justice kavanaugh has been treated very, very tough. his family, i think it's a very unfair thing what's going on. they are giving it a lot of time. they will continue to give it a lot of time. i really would want to see what she has to say. >> i think it's fairly outrageous. >> i want to say to the men in this country just shut up and step up. >> you don't have to be sherlock holmes to figure some of this out. >> if she decides not to show up, that's entirely her choice. >> i can't say everything is truthful. i don't know. john: the woman accuses supreme court nominee brett kavanaugh of sexual assault and wants the fbi
5:01 pm
to investigate before she agrees to speak publicly about the alleged event. some republicans say that's a democratic tactic to delay kavanaugh's confirmation. we will debate it. kim jong-un agreeing to shut one of the country's main missile sites, crediting his historic summit with president trump for stabilizing security in the region. hillary clinton slamming president trump on msnbc, urging americans to vote in the midterms to reject trump's quote authoritarian tendencies. thank you for joining us. thank you for watching. money, politics. i'm john layfield. "the evening edit" starts now. john: the dow jumping more than 150 points to 26,405 as goldman and jpmorgan lead bank shares higher. first, kavanaugh's accuser
5:02 pm
will not show up monday to answer questions at the senate hearing. christine blasey ford lhas alleged sexual assault more than 30 years ago and says she wants the fbi to investigate letter claims before she testifies in front of congress. the fbi reportedly says that's not its job. we don't know how judge kavanaugh's nomination proceeds. senator chuck grassley is pressing forward with the hearing schedule for monday saying, quote, ford's testimony would reflect her personal knowledge and memory of events. nothing the fbi does would have any bearing on what dr. ford tells the committee, so there is no reason for further delay. now a source even saying the senate judiciary committee is offering to send a team to interview kavanaugh's accuser in california or wherever she would like to meet to get her side of the story. senator bob corker also backing up his colleagues, tweeting after learning of the allegation, they took immediate action to ensure both parties had the opportunity to be heard. if we don't hear from both sides on monday, let's vote.
5:03 pm
former president george w. bush is reaffirming his earlier support of kavanaugh, who worked under bush as white house counsel. bush saying in a statement laura and i have known kavanaugh for decades and we stand by our comments. he's a fine husband, father and friend. senator lindsay graham saying the delay is a political move, tweeting requiring an fbi investigation before ford will appear before the committee is not about finding the truth, but delaying the process until after midterms. with me is edward lawrence, live in d.c. with the latest. reporter: president donald trump says he would have to make a decision about judge brett kavanaugh's future as a nominee if he hears credible testimony from christine ford. at the moment, ford again not testifying as of yet, still saying she would wait for an fbi investigation to be finished before she would come testify before the committee. the president would not outright say, though, if he believes ford. >> the fbi has been very involved with respect to justice
5:04 pm
kavanaugh. they know justice kavanaugh very well. they have investigated him i guess six times, and they have investigated him for this hearing. look, if she shows up and makes a credible showing, that will be very interesting. we'll have to take a position. but i can only say this. he is such an outstanding man, very hard for me to imagine that anything happened. reporter: ford says when the two were in high school, kavanaugh sexually assaulted her at a high school party, an allegation that kavanaugh denies. in a letter to the judiciary committee, ford's attorney says that again, she would not testify unless an fbi investigation has been concluded, a report finished. again, that would further delay the confirmation process to the supreme court. >> the fbi has to be allowed to complete their background check. this is the background check they do for all nominees. the previous background check did not have this information to look at, so we need a thorough,
5:05 pm
independent investigation, free of partisan politics, to inform the questions and allow for a fair hearing of the facts. anything less than that will put a permanent cloud over this process that will not be removed. reporter: senator diane feinstein saying she wants to hear from other witnesses under oath in front of the judiciary committee who may have heard about this incident 36 years ago. senator chuck grassley, judiciary committee chairman, says the committee has reached out and spoken to other people who were identified in reporting about this issue and gotten their comments related to it. so far, he's saying the hearing will go forward on monday with or without ford. kavanaugh says he will show up and testify under oath. john? john: thank you. president trump standing by kavanaugh as white house official mercedes schlapp says these are disturbing last-minute tactics by democrats. take a listen. >> this is the most predictable playbook for the democrats. the democrats from day one have
5:06 pm
said they are not going to be supporting kavanaugh. for a very long period of time they were refusing to take meetings with him. then they wait at the last minute for senator feinstein to come up with this letter from this accuser on brett kavanaugh, after we have seen 32 hours of testimony by judge kavanaugh, after they have had closed committee hearings, and after they have given him over 1,000 written questions. what are we seeing? we are seeing the fact that none of this in regards to this accusation being made was brought to the attention of judge kavanaugh so it's very clear it is just the politics of a delay tactic the democrats keep putting forward. john: joining me is kayleigh mcinenny and doug schoen. doug, i don't see how anything possibly gets solved from this. just because the timing may be suspect does not mean these charges might not be true.
5:07 pm
it seems like it's he said versus she said and this is the supreme court at stake. what do you think happens here? >> well, i think first we neat to see if dr. ford in some form participates in monday's hearing, whether it's in closed session or the committee's offered to come to her, whether it be in california or somewhere else. the first question i have to ask, is she going to participate. if she chooses not to participate, given the allegations, and the very serious allegations, it would be hard to i think block judge kavanaugh from having his name go forward and using this to vote against him. it's serious allegations and i don't discount them for a second but unless she participates along with judge kavanaugh on monday, i suspect that he will be given the benefit of the doubt. john: kayleigh, senator gillibrand brings up a point that has some merit. the fbi is supposed to
5:08 pm
investigate these people, and they did not have this information until recently, and now the republicans are claiming this is a stall tactic. do you think it's a stall tactic, or do you think the fbi should investigate this either before she is interviewed, or before the hearing goes forward as to whether to confirm judge kavanaugh or not? >> it is a stall tactic. look, prior to the allegation being made, there were six fbi background checks passed by the nominee. that's a fact. we know that. it's important to understand how fbi background checks work for positions like this. they look for information, positive, negative, that is presented to the judiciary committee. they move forward with the information given to them by the fbi. there are not determinations about credibility provided by the fbi so they would never look at an allegation like this and say yes, this is credible, no, this is not. that's not how the background process works. the fact you have senator gillibrand and others calling for this, it is a delay tactic because it's a fundamental understanding or choosing to misunderstand how the fbi background check process works.
5:09 pm
john: isn't it dr. ford that's calling for this? >> yes, it is. again, this is -- i don't know if she's talking with democrats about this, but this is a delay tactic. if she wants to share her story which through her lawyer, she said on monday i want to share my story, you have been afforded every single opportunity to share your story in public and private, or in california. john: you are saying this is a delay tactic, saying she's being political with this? >> the democrats are. john: she's not the one that -- she brought it forward, dr. ford. are you saying dr. ford is being political with this? >> it's a delay tactic by democrats but it is a curious response from dr. ford because her lawyers don't have any understanding about how fbi background checks were, they would understand what they are calling for would not be a credibility assessment -- john: if you're not going to answer that question i will go back to doug. top democrat on the judiciary committee, diane feinstein, had this information for some time.
5:10 pm
the one thing that's strange in all of this, not whether there is veracity to that claim, is why was the timing on senator feinstein, why did she wait until after the hearing? that seems suspect to me. she had 32 hours, you had judge kavanaugh in the congress, but you waited until afterwards. is there a reason for that? that seems political by senator feinstein. >> john, i don't know but it sure seems questionable to me and it was presented as a bombshell which it certainly is by senator feinstein. she's asked for more witnesses more input which seems a little strange to something that may or may not have happened 36 years ago, and she's also said she's not sure herself how much of what dr. ford said is truthful. all these are unanswered questions to me and i think the only way to get to anything approaching an answer is have dr. ford and judge kavanaugh
5:11 pm
testify on monday, in whatever forms are most secure, convenient and certainly supportive of dr. ford and her rights, but i think we got to get to the bottom of that. john: what happens, doug, is the judge going to be confirmed here? if she doesn't testify, you've got a person who made this allegation who deserves to be heard. >> sure. john: so does judge kavanaugh deserve to be heard, of course. it's all due process. what happens if she doesn't testify? is he confirmed? >> my guess is he will be confirmed if she does not testify, because there are too many unanswered questions, and i just would say that as there have been six background checks, judge kavanaugh, who i disagree with on many, if not all issues, has a sterling record and so far, an unblemished record of public service. again, from a very different perspective from mine. i would be hard-pressed to say this should disqualify him absent credible testimony by dr.
5:12 pm
ford that he is not able in some fashion or another to rebut or answer. john: thank you both very much for your time. let's take a look at the markets and check on your money. the three major indices ended the day mixed. ashley webster is on the floor of the new york stock exchange with the latest. reporter: the money continues to pour in from wall street despite what's going on with trade tensions with china or anything else, for that matter. the dow gaining 159 points to close at 26,406. the s&p eeked out a small gain. the nasdaq slightly lower, down six points. the yield on the ten-year treasury bond breaking through the 3% barrier. the banks get more money back on the money they loan. we saw some nice gains, bank of america, citigroup, goldman sachs all up 2% to 3%. by the way, despite investigations from the s.e.c. and department of justice, shares of tesla again gaining impressive traction, adding another $10 or 3% to their share
5:13 pm
price. we will rename it teflon. john, back to you. john: thank you, ashley. college students admitting in their view president trump is responsible for our economy, not president obama. >> in terms of confidence, in terms of people's attitudes, that's mostly trump. >> economy is probably one of the best things he's doing. >> economically i feel like he's really helping us. john: what are they doing out of class, anyway? are millenials turning a new leaf? also, a new report, crypto currency prices about to shoot back up. a crypto currency billionaire here to talk about how you can make money. first, president trump visiting the carolinas to get a first-hand look at the damage from hurricane florence. we are on the ground with the latest after this.
5:17 pm
nobody could believe a thing like this could happen. already you've broken all records. this is going to add four, five, six feet of water all over the state. so washington is with you, trump is with you. we're all with you 100%. we'll get through it. john: president trump visiting the carolinas to get a first-hand look at the damage from hurricane florence. thousands are still in shelters and hundreds of thousands are without power. the storm killed 37 across three states. we are in conway, south carolina, where president trump met with victims and first responders. reporter: that's true. i'm standing in the backyard of a home where you can see swamp behind me has already started to come in. the expectation is you will have a river that's going to increase about four feet, so residents in this area are preparing, moving their furniture, getting
5:18 pm
supplies just in case they can't get out, and one of those is mr. hunter, who owns this home. you've owned this home for nearly 20 years. how are you preparing? show what's behind us right now. >> i did this back after floyd. the units were on the ground and they flooded so i put them up in the air so that hopefully, they would stay out of the water. i don't think it will make it this time. reporter: what are you doing inside your home to prepare? let's walk and talk while we do this so we can show more of the house. >> we are preparing to move. reporter: you are going to move out? >> we have taken everything off the lower floor. moved some of the stuff upstairs and actually taken it to storage. reporter: taken it to storage. you were pointing this out to me. can you describe what happened? >> this is the level that came up monday night after the flash flood. it was here so that's up under my house. my finished floor level is somewhere along in here and that's where they are expecting it to be, if it comes to their projections.
5:19 pm
i will probably have anywhere from 10 to 20 inches in the house. reporter: you are a natural on tv, by the way. let's move to the front of the house right now. you are putting your furniture in a u-haul so most residents in conway are preparing, moving their furniture, and look at the end of this street over here. you can see the two massive u-haul trucks. what's that experience been like? how are your neighbors feeling with all this? because you don't really know what's going to happen. >> you don't, but everybody has banded together so we had a lot of help, lot of calls and e-mails and texts so it's been really, really good. but we've had time to prepare, where a lot of people have not had time to prepare. reporter: just lastly, because they are going to throw back to the studio very shortly, how would you compare this, i know again, beautiful day, we are both sweaty, it's super sunny outside right now, so it's very deceiving to those watching at home right now. how does this compare to other previous storms? >> this is very similar hadood,
5:20 pm
it comes back and it's almost like a slow death because it inches back up. it probably will not crest until monday or tuesday, if it's at the height they say we will know then whether we have water in the house or not. it will take three, four, five days to recede. reporter: i wish you the best of luck with everything. thank you very much for speaking with us. back to you guys in the studio. john: thank you very much. one of the cities hit hard is fayetteville, north carolina. the mayor joins us now. mayor, i want to ask you first of all, how are things going in fayetteville? i have been there many times. it's hard to recognize with all that water all over. how are things in fayetteville? >> well, we are holding up. you know, we have a great community. we were anticipating catastrophic flooding. however, we were spared quite a bit. we did have some communities in and around the river that were impacted when the river crested last night.
5:21 pm
john: mayor, how has the three parties interacted with each other? you obviously got the state and local, one party, fema and the dod. how have all the parties worked together in this catastrophe you are having right now? >> well, i will say all the different branches of government have really stepped up and worked well. the governor's office has been fantastic. they have been in and out of our community several times. i think he plans a visit later this week. the white house reached out and i had a couple great conversations with those guys and they said they were there to offer any type of assistance we needed. fort bragg is one of our community partners before this crisis and they really stepped up and lent a helping hand to us. all the branches of government as well as our county officials so everything worked well, and the right branches stepped up and we really provided a good service for the people. john: when do people get to return to their homes and when do businesses get to reopen? >> well, we start to put the city back together today. we removed the mandatory
5:22 pm
evacuation order. our shelters are down to around 800 people from the height of around 1600, so we are continuing to try to get people back to their normal course of living. we do have some areas that were impacted, and so as the flood waters recede later this week, we'll have an opportunity to assess the damages and see what we need to do. but a lot of businesses were back open today and we saw a lot of movement. that was a good sign. john: mayor, you guys are doing a wonderful job. our hearts are with all of you great folks down there. thank you for joining us today. >> thank you for having us. john: president trump's old adversary is back in time for midterms, of course. coming up, hillary clinton urging americans to address trump's authoritarian tendencies come november. we have the sound. first, north korean dictator kim jong-un agreeing to shut one of his country's missile launch sit sites. jim hanson reacts after this.
5:23 pm
it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management.
5:26 pm
prior to becoming president, it looked like we were going to war with north korea, and now we have a lot of progress. we've gotten our prisoners back, we're getting our remains back. they continue to come in. lot of tremendous things. but very importantly, no missile testing, no nuclear testing. now they want to go and put a bid in for the olympics. we have a lot of very good things going. remember this, prior to my coming into office, a lot of people thought we were going -- it was inevitable we were going to war in north korea, and now the relationships, i have to tell you at least on a personal basis, they're very good. john: north korean dictator kim jong-un agreeing to shut one of the country's main missile testing and launch sites after talks with south korean leader moon jae-in. secretary of state mike pompeo
5:27 pm
congratulating the leaders for their successful meeting and inviting his north korean counterpart to meet in new york city next week. joining me, former u.s. army special forces jim hanson. first of all, thank you for your service, sir. i want to ask you about north korea, specifically kim jong-un. obviously the president deserves a lot of credit for what has gone on. how far can he go? it seems to me that if he gives up nuclear weapons, he becomes libya. he becomes iraq. i just don't see what it would benefit him to give up that one deterrent. how far can kim jong-un go? >> yeah, we may find out. you bring up a very good point. if he no longer is the nuclear power, then what are his generals going to do? what is the people who are invested in his regime and invested in that regime as a malevolent force, what are they going to do if he takes away their one magic bullet? it remains to be seen, and that is probably the most complicated
5:28 pm
piece of this entire situation. so every time he takes a step toward doing that, it's an amazing thing because he has to have taken all of that into account. at some level, he's dealing with it internally but we don't know how that will turn out and if he ever disappears, we'll find out what the answer was. john: a question also is what are we going to do. if he were to give up this nuclear deterrent and all of a sudden now he's going to have to have some concession. are we going to have to guarantee his safety and will we have to guarantee the safety of this crazy brutal dictator which may be in the greater good of everything but seems like a crazy dynamic. >> it is, no question about that. if we had to make that calculation today, i would 100% back a deal where we guaranteed kim jong-un's life for as long as he lives to be in a gleaming skyscraper and ride on the trains that were in that film he saw in singapore if he gives up the nukes. that's a trade any of us should
5:29 pm
be happy to make. that doesn't minimize the disgraceful, horrific things he's done to the north korean people. it takes away a threat that is something that the entire globe has to deal with. so whatever we need to do to guarantee him, if it gets the nukes gone, it's worth it. john: it's the ultimate greater good argument. switching to something else, the president of poland suggesting his country should build an american base and guess what he wants to name it. listen to this. >> i said that i would very much like for us to set up a permanent american base in poland which we would call force trump and i firmly believe this is possible. i am convinced. john: president trump is said to be very seriously considering it. of course the president of poland wants this. this prevents anybody from invading poland, this prevents having a ukraine problem happen. it's the same thing qatar did when they offered a billion dollar airstrip, they knew we would protect them if we had an
5:30 pm
army there, military, from saudi arabia and iran. do you think this happens, jim? >> i hope it does, because right now, poland has a lot more in common with the united states than a lot of the other folks in europe. they are the least eu style country in europe and the bottom line is they have a common enemy with us in russia. they see the problem. they want missile defense, they want u.s. troops on the ground and they want a tighter relationship with us. if you remember, president trump went to poland to give his defense of western civilization speech for a reason. there is common ground. i think poland would be great partner for us and i hope fort trump opens sometime soon. john: maybe whenever president trump wants to, if he can get the u.s. military to be there. thank you very much for joining us tonight. >> you got it. john: a new report, crypto currency prices are about to shoot back up. coming up, a crypto currency billionaire is here to talk about how you too can make
5:31 pm
money. first, president trump's old adversary is back just in time for midterms, of course. hillary clinton now urging americans to reject trump's quote, authoritarian tendencies come november. my next guest says she's a blessing for republicans. american majority founder and ceo ned ryan reacts after this. why bother mastering something?
5:32 pm
why test a hybrid engine for over six million miles? why hand-tune an audio system? why include the most advanced active safety system in its class, standard? because when you want to create an entirely new feeling, the difference between excellence and mastery, is all the difference in the world. introducing the all-new lexus es. every curve. every innovation. every feeling. a product of mastery. experience amazing at your lexus dealer. a hotel can make or break a trip. and at expedia, we don't think you should be rushed into booking one. that's why we created expedia's add-on advantage.
5:33 pm
now after booking your flight, you unlock discounts on select hotels right until the day you leave. ♪ add-on advantage. discounted hotel rates when you add on to your trip. only when you book with expedia. copd makes it hard to breathe. so to breathe better, i go with anoro. ♪ go your own way copd tries to say, "go this way." i say, "i'll go my own way, with anoro." ♪ go your own way once-daily anoro contains two medicines called bronchodilators that work together to significantly improve lung function all day and all night. anoro is not for asthma. it contains a type of medicine that increases risk of death in people with asthma. the risk is unknown in copd. anoro won't replace rescue inhalers for sudden symptoms and should not be used more than once a day. tell your doctor if you have a heart condition, high blood pressure, glaucoma,
5:34 pm
prostate, bladder, or urinary problems. these may worsen with anoro. call your doctor if you have worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain while taking anoro. ask your doctor about anoro. ♪ go your own way get your first prescription free at anoro.com. get your first prescription free this is the angel oak. some say the oldest living thing east of the mississippi. it's weathered countless storms. battered, but never broken, it stands for the resilience within us all. ♪ well, what i'm worried about is that these authoritarian tendencies that we have seen at
5:35 pm
work in this administration, with this president, left unchecked could very well result in the erosion of our institutions. i know that if we don't have a very big rejection of those tendencies come this midterm election, left unchecked and unaccountable, i think you will only see more of these attacks on our institutions, on our norms, on the rule of law. we're not there yet, but that's because we have an election. john: president trump's old adversary is back. hillary clinton just in time for midterm elections, urging americans to reject trump's authoritarian tendencies in november. let's pick it up with american majority founder and ceo ned ryan. listen, miss clinton, it seems to me, look, she's the worst politician of my age at least. she lost to a junior senator in
5:36 pm
2008 and to a reality star in 2016. she was sprayed with human repellant somewhere in her life. she's exactly opposite of what president clinton is, bill clinton. he's one of the best politicians of all time. for some reason she's just not likeable. it doesn't lend to her credibility whether she would have been a good president or not but she's just not likeable. is that the wrong person for the democrats to be putting forward? >> 100% but let's not forget in the summer of 2016, it was about 70% of the american people didn't even think she was trustworthy much less likeable. so i think it's great that she's out there trotting around. i think it's great that obama is out there as well because it's reminding people yet again why we rejected them and why we elected donald trump to be the president. you know, it's amazing, she wrote over a 500 page book on what happened. she has no idea what's happening in this country. she talks about rejecting authoritarianism, returning to norms, restoring confidence in our institutions. that's exactly why she was rejected and exactly why the
5:37 pm
american people elected trump, because they were rejecting this bipartisan globalism that sold them out for years, and they were losing faith in trust in these institutions like the doj and fbi because she's a walking manifestation of this complete disregard for the rule of law, and the amazing part is, when the american people see her and hear her talk, they are reminded yet again that this woman thought that the rule of law was a series of suggestions that she was above it, she could have her server if she wants, she could mishandle classified information. she's living in a time that's gone and at the same time, every time i see her i'm reminded yet again, thank god donald trump won in 2016. john: well, is your point that the american voters were rejecting miss clinton and president obama? is that the reason president trump got elected? because to me, i think that's an interesting question, because i think it was always the middle finger from the middle of the country to the government, saying we don't like the status quo.
5:38 pm
we have had a clinton or bush in the white house since 1980. we are going to go with the one guy we know the government hates and that's donald trump. were people actually electring donald trump or rejecting miss clinton? >> they were rejecting an entire approach in which i think a ruling class of both republicans and democrats have rigged our system of government to be benefiting them and not the american taxpayer. that's what they were jeekt ire. that's why you see this rise in populism. donald trump is the first manifestation of a growing movement in which the american taxpayer are saying we actually want representation in d.c. that represents our interests first, and puts our priorities first, and here you have this donald trump come along and say you know what, i'm going to put your interests first, i'm going to be a champion of the american working class and the taxpayer, i'm going to work for better trade deals, i'm going to work for national security, i'm going to solve the immigration problem, i'm going to cut your taxes, all of these things and the american taxpayer,
5:39 pm
regardless of party affiliation, said thank god, finally we have a champion for us and that's why we elected donald trump. john: we don't have any trade deals yet, right? we have had all these trade deals talked about, the economy is doing well, no doubt about that, but as far as the trade deals, nothing yet. we have been promised a lot. it's like potential. potential doesn't pay the rent. we don't have anything signed yet. you think we have something signed before the year's out? >> well, we'll see the timeline. we are definitely progressing. when you see the trade negotiations going on with mexico and i think this whole situation with china is the absolute right thing to do. i think it's going to get us to a much better place. i think he's doing the exact right thing with the eu. again, these things don't happen overnight but we are definitely well down that path in getting better trade deals that benefit the american people. so i have full confidence that we are going to walk out of this with much better deals that benefit us first. at the same time, it would be a benefit to our allies as well. john: ned, thank you for your time tonight. liberal college students
5:40 pm
actually admitting president trump is responsible for our good economy. who cares what college kids think? go to class. we will play the sound. a new report as crypto currency prices are about to shoot back up. a crypto currency billionaire is here to talk about how you can make money. wait until you hear what he's done for new york city youth. it's an amazing story, next. st, agent beekman was one step ahead of them. because he hid his customers' gold in a different box. and the bandits, well, they got rocks. we protected your money then and we're dedicated to helping protect it today. like alerting you to certain card activity we find suspicious. if it's not your purchase, we'll help you resolve it. it's a new day at wells fargo. but it's a lot like our first day.
5:41 pm
(nicki palmer) being a verizon engineer is about doing things right. and there's no shortcut to the right way. so when we roll out the nation's first 5g ultra wideband network, it'll be because we were the first to install the fiber-optics and small cells, and upgrade the towers that will change the way we learn, work and live. and i'll always be proud that we're not just building america's first 5g network. we're doing it right. is important to me so father being diagnosed with advanced non-small cell lung cancer made me think of all the things that i wanted to teach my kids.
5:42 pm
(avo) another tru story with keytruda. (roger) my doctor said i could start on keytruda so i did. with each scan things just got better. (avo) in a clinical study, keytruda offered patients a longer life than chemotherapy. and it could be your first treatment. keytruda is for adults with non-small cell lung cancer that has spread... ...who test positive for pd-l1 and whose tumors do not have an abnormal "egfr" or "alk" gene. it's the immunotherapy with the most fda-approved uses for advanced lung cancer. keytruda can cause your immune system to attack normal organs and tissues in your body and affect how they work. this can happen anytime during or after treatment and may be severe and lead to death. see your doctor right away if you experience new or worsening cough, chest pain, shortness of breath, diarrhea, severe stomach pain or tenderness, nausea or vomiting, rapid heartbeat, constipation, changes in urine, changes in eyesight, muscle pain or weakness, joint pain, confusion or memory problems, fever, rash, itching or flushing, as this may keep these problems from becoming more serious. these are not all the possible side effects of keytruda.
5:43 pm
tell your doctor about all your medical conditions including immune system problems, or if you've had an organ transplant or lung, breathing, or liver problems. (roger ) before i'd think of the stuff i might miss. but now with keytruda, we have hope. (avo) living longer is possible. it's tru. keytruda, from merck. ask your doctor about keytruda. john: billionaire crypto currency investor now saying crypto currency prices have reached their bottom. crypto currencies like bitcoin dropped since the start of the ye year. today, bitcoin is up about 1%. with me, the man who made his fortune in digital currency, galaxy digital capital management founder. michael, you were the first legitimate voice for crypto currency, the first billionaire hedge fund guy, the first institutional guy who made so much money that got into crypto currency. i got an interview where you
5:44 pm
first invested in bitcoin at $96. it's about $6500 today. what did you see then that other people didn't? >> call it luck. no. listen, what i looked at then, i thought here's a new technology which is very cool that answered a call and that was people were upset with the institutions of the world. they were upset with banks, they were upset with central banks. at that point, qe2 had started and you were printing money and people really thought there would be debasement of fiat currency and this was a new way of creating a digital store of value. what i liked about it at that point is there was this big pile of people that want to live or the grid, libertarians and people that were sick of the government and the chinese were guyi buying it. it was global. it was a great speculative investment. i learned it's not just a speculative investment, this is really a revolution. bitcoin and the entire crypto space is about a group of people saying we can rebuild the
5:45 pm
structure of the way business is done better. so now you've got bitcoin which is kind of the first digital store of value and you have everything else which is kind of web 3.0. over time we will rebuild the way the internet works. john: does it stay a digital store value or does it become a fiat currency? >> i think it stays a digital store value. currencies need to have stability. the dollar yen moves plus or minus 10% over ten years. bitcoin has moved 60% this year. you're not going to buy that suit monday and a day later say it's a lot more expensive. you really need stability. you look at currencies, fixed supply currencies never work. they are too easy to squeeze if they get accepted, the price keeps going up. i like to think of it like gold. gold has an $8 trillion market cap. bitcoin has about $120 billion market cap. has adoption come as all the young people get older and say digital store value makes a lot
5:46 pm
more sense than clunky old gold that sits in a safe. john: so far, crypto currency's been a retail story. you said the institutional investor is coming which is a very bullish argument. when does that manifest sifitse? >> there are four big buckets. one is custody. you already had back twitches, subsidiary of i.c.e., new york stock exchange. jeff sprecker and his team are putting out a crypto currency solution, it's an index -- sorry, an exchange, clearinghouse and custody solution. i think that starts in november. goldman sachs has announced they are on their way with custody. they haven't given us a date yet but i'm hearing it's close. los lots of custody solutions are coming. i bet by year end, institutionals will have not just one but two or three good custody solutions they have heard of. two indexes, we came out with the bloomberg galaxy crypto index.
5:47 pm
there are a bunch of different indexes people can benchmark. three is kind of institutional players. the price waterhouses, the bank of new yorks, the players, custody and cash that are part of the ecosystem that are getting into the space. if you are sitting at a pension fund or asset manager, you will feel a lot more safe seeing names you're used to. i would bet by the end of the year, that framework is there. we are already seeing institutions like endowments and pension funds make bets, they are making bets in venture funds. there was a big very influential endowment that made a bet in a bitcoin index venture fund. you are starting to see the first people saying this is a store value. john: it shows how smart you are and you made a lot of money off of it. what you have done with the money shows what a good person you are. 2005 you started up a program,
5:48 pm
beat the streets. i have been to visit, it's one of the best i have seen in the world and i have been to a lot of programs that deal with at-risk youth. because of the program you started up, you now have 150 schools, 3200 kids in new york city that wouldn't have had opportunity but because of what you founded and your wonderful coaches that surround you. not only that, nationwide, you have 11 programs that have been spin-offs from beat the streets. 6,000 kids nationally right now are part of this program because of what you did in 2005. tell me about it. >> so listen, i was a wrestler. wrestling's a sport that teaches you to be tough and often out of toughness comes leadership and discipline. so we thought if we could take inner city kids and give them the training, the education that wrestlers get, i thought back to the age of spartans. you go through spartan training and come out tough. we wanted to teach kids not to be afraid to do the right thing when they see right and wrong. it's hard to do so we set up
5:49 pm
this program to fund coaches and really, it's the coaches that are the agents of change. so it wasn't just me. there's an army of people that are involved. it was my money mostly to start but now we have lots of donors and people that have joined the team. but it really is can we use this sport to teach kids life lessons and toughen them up. and it works. john: you are also now the chairman of a company with a whole cadre of sports. are you not only using sports but helping kids get out of a bad situation by sports. i was at your event at the southside seaport. you had olympic versus world champions, tons of money being raised. how can people help you? >> beat the streets.org, there's three ways. they can donate or volunteer their time or literally come out and help mentor a kid. proximity changes everything. go spend time in some of these schools like wait a minute, these kids have such a disadvantage.
5:50 pm
i have a daughter who is teaching now in the south side of chicago and the e-mails she sends home every night about the kids that she's teaching and the disadvantages they have versus, you know, privileged kids like ours, shocks you. she was doing a go fund me yesterday to raise $10,000 because the school doesn't have school supplies. so it's just getting involved at a grassroots level. john: it's absolutely incredible, life-changing work you are doing. i'm still blown away by what you have done, by seeing your program. you are also responsible for getting wrestling back into the olympics, correct? >> i was part of the team. it was a big team that got wrestling back into the olympics. i happened to be on tv when that story broke, so i was the first person to say don't mess with a bunch of wrestlers. john: thank you so much for joining us. good luck with beat the streets. love what you're doing. usually liberal college students admitting president trump is responsible for our good economy. we will debate it in just a minute with our top money guys. >> in terms of confidence, in
5:51 pm
changing people's attitudes, that's mostly trump. >> economy is probably one of the things i think he's doing. >> economically i feel like he's really helping us. it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better.
5:52 pm
maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. designed to save you money. wireless network even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. i'm 85 years old in a job where. i have to wear a giant hot dog suit. what? where's that coming from? i don't know. i started my 401k early, i diversified...
5:53 pm
i'm not a big spender. sounds like you're doing a lot. but i still feel like i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today with td ameritrade®.
5:54 pm
i think the underlying fundamentals are likely still largely obama but in terms of confidence, in changing people's attitudes, that's mostly trump. >> of all the things i have issues with, the economy is not really one of them. >> i feel like he's really helping us. >> he does make some good deals. >> the way he goes about conducting his business, i don't agree with. but overall, i think he's going to do some good things. >> i think he has done a good job as far as, like, making new jobs and lowering the unemployment rate. >> i do know for a fact he's helping a little bit and we have been doing a lot better with the unemployment and everything.
5:55 pm
so from my perspective, i think he's doing okay with that. john: college students actually admitting president trump is responsible for our good economy. to my money market panel, gary b. smith and jonas parrish. gary, look, no offense to these college kids. i don't care what they have to say. i do care what you have to say. it's an interesting debate. who do you think is responsible for this economy? >> well, i think it's trump at this point. look, we have had the economy under obama when they said oh, my gosh, 3% gdp growth, that's a pipe dream. we're never going to have that. it was kind of reminding me of the carter malaise years. now we have seen the economy growing at greater than 3%. i think the big shocker here is that college students may be a little bit more middle-leaning than i had anticipated, and that, john, i think the takeaway is it might not bode as well for the democrats in the upcoming
5:56 pm
election as i anticipated. john: interesting point. jonas, what potentially derails this economy? >> for students, i can't think of anything at their age. what you want is a good job market. the fact mortgage interest was reduced a little, that doesn't hurt students. students were still allowed to deduct student loan interest. they are in a pretty good position right now. you want a good job market. that's what they're coming out into. that will help them pay off uyulnd bew lootouguys. so good to be on. tomorrow make it up to both of you. we'll be right back. step up to the stage here. feeling good about that? let's see- most of you say lower a1c. but only a few of you are thinking about your heart. fact is, even though it helps to manage a1c, type 2 diabetes still increases your risk of a fatal heart attack or stroke.
5:57 pm
5:59 pm
6:00 pm
96 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on