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tv   Cavuto Coast to Coast  FOX Business  November 21, 2023 12:00pm-1:00pm EST

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stuart: if you put your thinking before the break, when was the first turkey trot, buffalo, saint augustine, washington dc, savannah. i know you are an expert. lauren: not at all. i am guessing saint augustine, florida. number 2. ashley: i will go with savannah just to be number 4 and the answer is -- we are good at this. buffalo. the first turkey trot hill in 1896, six participated in four completed the race. thank you. coast-to-coast is coming up next as markets move slightly lower.
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ahead on coast-to-coast a terrifying 45 days for hostages in gaza. president biden saying a deal to bring them home is close but could come at a high price? no one knows this better than general david petraeus joining me for a special interview you won't want to miss. liberal mayors on the west coast joining conservatives in an effort to clean up cities. the situation becoming so bad san francisco had to do a citywide housekeeping job before they could host the world's most powerful business and political leaders even when they missed a few spots. i saw that firsthand. >> sitting in front of some poop. i'm not wearing the same suit. city leaders wondering today how to come back from the brink of chaos on the streets. tens of millions hitting skies to be with loved ones for
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thanksgiving but travelers but where, storms sweeping across the us could keep passengers stranded. edward lawrence from the nation's capital in for neil cavuto and you are watching coast-to-coast. top story, aaa expecting 55 million americans to hit the road with millions heading to the airport testing airlines for the first time since last year's flightmayor. jeff flock is that philadelphia international airport. is your flight delayed? >> you would have to pay me to take a flight today. good to see you. not good to see this. a few smiling faces anyway i see a couple smiling faces in the tsa lines. where you going? >> charlotte. >> reporter: better weather
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there? >> the whole east coast is raining. happy thanksgiving to you. another look at the terminal, at philadelphia international. this is going to be a very busy day. look at the numbers. 4.7 million people expected to travel just between tomorrow and sunday. that according to aaa could be an all-time record. as the young lady said it is raining all over the eastern seaboard, all headed this way to philadelphia as we speak. pete buttigieg says they are ready. they are ready to rock. he says they should go forward. air travel will get tougher.
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>> our expectation is record-breaking demand for more and more passengers and flights will grow in the years to come. >> reporter: this is what we are faced with and that is the worst time to have a big storm come up the east coast. and the flightmayors last year, don't expect to have that again but maybe it will take longer to get where you are going. edward: i thought you were going to get on the plane. thanks for that report. you previewed it there. a massive store making its way across the eastern part of the country, has the potential for tornadoes and damaging winds and derailing travel plans. what is going on? >> this is the storm system you are talking about making it's more along the east coast
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across portions of the southeast. that's where you will see the best chance of severe weather. and stretching into alabama, atlanta, charlotte, those could slow down travel, we see some delays at this point, and more of the weather moving, they track more to the east, more on that in a moment, the system tracks its way to the coast, when you get into wednesday afternoon. you've cleared off, if you are driving, obviously there's other concerns, it is interior new england, some folks could be like dealing with heavy
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downpours as you head through your evening rush tonight into tomorrow morning. once this entire system sweeps across the country, thanksgiving day itself turns out to be gorgeous. here's what you're looking at, 55 ° in new york city and stretching all the way back across the country. a nice-looking thanksgiving day. looking at snow in the rockies and that could turn nice. black friday and great skiing across the country. get to this and things look good. edward: i heard clear weather for the commanders to beat dallas on thanksgiving day. i appreciate that. switching to the other big story of the day, president biden an hour ago hopeful of bringing hostages held by hamas home. >> president biden: we are very close, very close. we could bring for some of these hostages home very soon. i can't get into details, it is
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not done until it is done. we have more to say. things are looking good. edward: let's bring in trey yingst from israel. they are waiting for the israeli approval for a deal. is that where we are? >> it is a deal in place. the israelis are going to a procedure that would start with the war cabinet and security cabinet and city government. if that is approved and the green light goes forward, there will be a 24 hour waiting period before the cease-fire goes into effect and the exchange of hostages begins. it is reported in israeli media it will be a staggered approach from 10 to 12 israeli hostages at least in exchange for palestinian prisoners, women and children here, this could go on more than five days as applicable deal that could see more hostages released.
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listen to benjamin netanyahu, who spoke about the situation on the ground and the possibility of a cease-fire. >> translator: the first goal, eliminating hamas. we will not stop until we are done. bringing the hostages back, we are making progress. we don't need to discuss it further but hope we will have good news soon. >> reporter: is really forces operate around gaza city. verse trip's second-largest city, palestinians taking shelter. the weather is changing, a difficult time for those palestinians, some aid trickling into the gaza strip, the united nations and others say it is not enough. big questions how israeli forces will handle operating in the southern part of gaza where 2 million civilians go as the operations in the north continue. edward: stay safe.
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let's bring in roger whitman on our armed services committee at the select committee in china. looking for areas to cooperate opening lines of communication, chinese officials hosting arab nations like saudi arabia, jordan, egypt mother palestinian authority in beijing. the chinese talking about a peace agreement with the middle east. what do you make of this? >> a transactional nation, in the benefit of the world but the benefit of china. to call the people of the middle east their brothers and sisters is laughable. it's not a serious attempt by china to do anything constructive in the middle east, to gain a foothold for the advantage in the future and i don't see how it many way,
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shape or form the world looks at this as a serious attempt by xi jinping and having a meaningful impact in the middle east. edward: china wants to replace the us as the major power on the planet. is cultivating part of these arab relationships part of that? >> absolutely. around the globe, in south america, africa, they are looking to gain advantage and influence in those nations, they are transactional, doing things to their benefit, they want to displace the united states. they want to do things that we can is any effort by the united nations and any friends and allies of the united states. their effort is all about china. xi is a leader that seeks power and will do anything to achieve it. edward: are the chinese outmaneuvering the us or president biden specifically?
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>> yes, in many ways they are but it shouldn't weaken our resolve to make sure we counter what china does around the world especially with what they are doing to create economic ties with nations around the world. we are the world leader economically and we should act that way, make sure economic policies, make sure our strategic policies seek partnerships with other nations to make sure we have a network that will deter china in many places around the world especially asia-pacific, we are well-suited to do that. we have many advantages china has, we need to use everything in the playbook to do that. edward: is the president being aggressive enough in those relationships to counter what china is doing? >> he is not. house republicans in our national defense authorization
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act are doing just those things but counter china. what you saw, the president's budget that came over, it was weak, did not address the extent of threats from china. house republicans are committed to make sure we deter china but the house armed services committee. edward: the president says we are close to a deal for the hostages. how much should be given up to get these hostages back? >> the horrific and barbaric attacks of october 7th show that hamas is focused on trying to destroy israel. it is a good first step to have hostages released, 240 of them they are now. but now, 240 will be released. we can't forget what is yet to be done. let's make sure all the hostages are released. let's make sure hamas is never capable of perpetrating these horrific acts of terrorism as we saw october 7th.
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edward: is this negotiating with terrorists? >> it is, i believe, and effort to get these hostages back. that needs to happen. our effort in the house is to make sure we are supporting his relapse effort, israel aid needs to be done, house passed its bill, the senate needs to pass their bill and the president needs to sign it into law. that's the step we can do to help israel in their battle against the terrorists and hamas. edward: thank you for your time. appreciate it. coming up. the price of thanks giving dinner costing americans 25% more than it did before the pandemic and the white house is saying americans are feeling good about it. we will break it down when we return. ♪
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so, let's do this. give us a call today and speak with one of our hellomedicare licensed insurance agents. and say hello to an easier way to do medicare. >> it is thanksgiving. we have a lot to be thankful for. inflation was caused by the pandemic at russia's war
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continues to be a challenge, we've seen important progress. as we start preparing our thanksgiving meals, grocery inflation is at its lowest level years with prices for eggs, milk, bacon and fresh veggies lower than last year. in fact, according to the american farm bureau the cost of thanks giving dinner fell this year. edward: americans should feel good thanksgiving dinners cheaper this year. the american farm bureau says the average classic thanks giving dinner for ten people would be $61.17 down from the record high of 2022. it is 20% higher than 2019 pre-pandemic so let's bring in former congressional budget office director douglas holtz eakin. what do you think? should americans feel good thanksgiving dinners cheaper than last year?
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>> the reality is over three full years of the biden administration, that is something they feel every day and that history is something pulling the polls out every day. >> tough choices need to be made when you talk about thanks giving dinner. >> no question. people are still spending, we hear about it but there are some ominous signs out there, disposable income down since may. savings rate down, people dipping into their savings, don't want credit card debt. edward: maybe uncle buck doesn't get the invite. credit card debt, we have $1 trillion in credit card debt and it keeps rising. people using credit card debt to spend on their daily lives. we have a new report from fidelity, their savings to pay for some of the things like homes, and other services. is that, where is the breaking
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point and how close are we to it? >> here's the concern. in every postwar recession except the pandemic it is the business community the dropped off first and stop spending and household after that. this is dead in the water in the third quarter. households have been keeping the economy afloat and savings and credit card debt. that means there has to be a reckoning. someone digs into their pocket and start spending. edward: what about for the consumer? the person holding the standard of living which with inflation is the same standard of living, not increasing the standard. >> that's exactly the problem. they are trying to hold onto existing standard of living instead of making progress. they expected to rise and it hasn't. >> how should people handle the increased cost?
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>> deal with necessities, prioritize them, as long as you can. edward: appreciate your insights, this topic won't go away. appreciate that. nvidia in the spotlight. investors looking at tech buddies earnings after the bell as the stock falls one. 68%. we dig into all of this after this. ♪ ♪
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edward: the latest in the sam altman saga, he's okay with going back to open ai after the chat gpt maker could face a
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massive exodus after firing altman over the weekend. susan, what can you tell us today? susan: open ai's new management team is keeping the company running and workers from quitting. virtually all of open ai's employees have now signed that letter asking for the board to resign and fired sam altman to be reinstated as ceo. i got a hold of this letter which was pretty scathing and angry so leadership of the employees and staff, actions made it obvious you are incapable of overseeing open ai. we are unable to work with people who lack competence, judgment, and care. open ai said the conversations are still ongoing with altman. you third the microsoft ceo said he is open to returning to open ai and that is a day after
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announcing microsoft has hired altman and other executives to head up a new microsoft ai research team. governance needs to change at open ai which is owned by a nonprofit that operates a for-profit arm that makes that money off chat gpt and other apps that they have. it's like a boardroom coup that doesn't happen with strange makeup in leadership. microsoft is the largest investor with venture funds like thrive, coast adventures and tire global, they tried to negotiate to bring altman back to open ai as ceo but other investors are suing open ai accusing them of destroying investor value with the unilateral firing. tripling its valuation from last year. as for altman himself, the top
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priority remains to ensure open ai continues to thrive. them companies are taking advantage of this chaos. the ceo saying get he would hire and match the salary of an open ai researcher. they have also been recruited go but ai workers looking for new home with hb one visas with employment to continue we. edward: next on the ai front, waiting for nvidia earnings after the bell with stock taking a step down. 1.5% or so. let's get the read from jonathan hoenegg. they may not be able to live up to the height that they have set. what do you think?
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>> reporter: the options market is anticipating a 7% move for nvidia. it is hard to overestimate how important these magnificent 7, these top 7 ai related stocks up anywhere from 30 to 200% this% this year, they now account for 30% of the s&p 500 so we will watch those estimates closely because even nvidia itself is 3% of the s&p 500, 5% of the nasdaq. even if you don't own the stock outright, the index funds affect the economy read large. edward: are they overvalued? you say ai and your stock gets a boost, now they show production, something happening. when you talk about ai, nvidia is the can't name that comes through but isn't nvidia overvalued? >> by every traditional net metric it is.
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they are 15 to 20. for nvidia over 100. by traditional measures and metrics, why they were valued but when you talk to 50% of companies according to recent surveys dissipating, increasing their ai spending may be those are not as overvalued but as susan pointed out, companies are willing to hire these other engineers, it isn't so much commodities but the talent so the talent is in demand and companies stay hot as innovation continues. edward: and they all need chips. this won't be going away. elon musk's x launched a defamation lawsuit against media matters for america. charlie gasparino details with this. what is going on here?
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>> >> we should have a call, for media matters. this is what the people at x are telling me. the team is engaging with companies that left the platform amid the whole story. you name it, matched with some high profile advertising, you know the ones that have bolted to. they are re-engaging with those companies trying to get them back, with evidence that this was essentially a force manipulated thing by media matters. here's what they tell me. it is in the lawsuit.
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61-year-old man talking about algorithms. they believe people at media matters created freak account. in those fake accounts they went, actively sought out problematic accounts, followed them and corporate accounts. if they do that, you will have a situation where the algorithm tracks the user, brings content to the user but the algorithm thinks the user wants. i'm following these neo-nazi accounts and apple, going to get neo-nazi stuff sent to the and apple sent to me. let me make my point. you have to force the situation. they also found out 95%, this only happens in rare instances
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where you force it. i as charlie gasparino who cares about food and working out don't get neo-nazis. just because the advertisers follow users so they force it, whether this amounts to defamation or whatever i can't tell you. edward: you are describing a technological coup from the user base. charles: don't know about technological. edward: you are telling me that in the lawsuit, fake accounts that create this problem, that's a technological issue. charles: don't know if it is a coup or whatever you want to call it, that's their opinion. they began this investigation.
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in their view it didn't make any sense when they were able to put together the algorithms and data trail they came out with almost impossible to replicate what media matters said unless you purposely sought to do so. and you might see them, they won't make a grand announcement. also sick of this controversy. edward: you think elon musk comes out on top? charles: elon has other issues. a shareholder of tesla, take x out of it, don't want him
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tweeting, such a cesspool, the stock is going to get crushed and that is a board problem. he allegedly signed the decree of the sec -- edward: abolish wax. i appreciate it. coming up, a deal to release hostages being held in gaza could be struck as soon as today. we discussed was general david petraeus, former director of the cia, after this.
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edward: negotiations for cease-fire and hostage release in final stages. joining us is general david petraeus. thank you for joining us today. i wanted to start with what we are hearing from the president, we are getting close to hostages being able to get from hamas. what israel may be giving up and the us might have to get those hostages back. >> the biggest issue is this will provide some days during which hamas can reorganize, requip, reposition and so forth. probably worth the price of getting 50 or so hostages a day through this period. at the end of that period is
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real will resume the offensive against hamas. hamas has to be feeling on the ropes to a degree. what you need is a pause and that is what they are trying to achieve, to get back 3 for one although i will leave it to the israelis to assess how valuable these individuals will be who are released to hamas and returned for the hostages that are returned to israel and the us and other countries. edward: there could be some intelligence you get, you can see where their troops are going or where hamas is stirring from or going to. you could learn from that also. >> it could be but one of the agreement element is israel will not fly drones over gaza for 6 hours a day. one would assume that's the period these hostages will be brought up from the tunnels or wherever it is they are being
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held and through the mechanics of the actual release and exchange, those that israel is releasing. edward: isn't this negotiating with terrorists? what are your thoughts on that? >> every administration has negotiated with terrorists even when we say we don't. every administration has talked with the enemy. this is not unreasonable. some in the israeli cabinet, meeting right now and will vote on the issue and they will oppose this. by and large the pressure on that administration and the us administration is substantial in terms of getting hostages released or as many as they can in this particular episode. >> what about releasing someone who made kilmore is raley's, how closely do they look at who
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the israelis might release? >> very closely. if this is a release of women and children from gaza, from hamas, the hostages, presumably relates from israel. and they are filtering through this to make sure they are not releasing someone who is instrumental in the fight against them once the individual is back in gaza. edward: what you are seeing here in gaza. the israelis are managing those humanitarian pauses but not really winning the hearts of palestinians. each conflict is different. how do you feel this one is playing out? >> hearts and minds do matter,
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especially in this particular context and this strategic setting the. there has to be concerned about civilian loss of life, damage to infrastructure and so forth and it would be wise to lay out a vision for the palestinian people after hamas is gone. we did establish that. we are trying to destroy al qaeda in iraq and places like falluja and mosul and so forth. we got people not to oppose us or even to help us. you have to show that life is going to be better and rebuilding these areas, keeping the hospitals open but under control, we secure hospitals. the first objective we had in the final effort to clear
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falluja of al qaeda was a hospital. to control it, to make sure it was there for the civilians who were inevitably going to be wounded and also that it was not a source of disinformation. showing what the future could be like after hamas is gone could start and should start what israel has actually cleared, you can allow people back in. you have to control the access and egress of those areas. edward: the attacks we are seeing by iranian proxies in syria and iraq, there 64, 65 attacks and the us has had back four times. a proxy also has hijacked a ship near the suez canal. what should the response be to get these proxies to stop this behavior? >> it is a delicate issue because what the us wants to do
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is reduce this and protect our forces. we are taking a number of steps, to improve the counter drone and counter rock and other defenses, to limit injury to our soldiers, to retaliate in a measured way to upset a delicate balance between the is rainy -- uranian and she a militia, the government of a rack which requested publicly our forces stay, help them keep an eye on al qaeda in the islamic state in which we defeat and destroy the caliphate. the issue in syria as well, i don't think we want to go directly against iran, iran doesn't want to go directly against us.
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they work through proxies but we may have to increase the responses, the retaliation they issued. edward: we need a bigger response. the president is going after root causes and if you lockdown iran, that stops what's happening in the middle east. if you forcibly pushback against china, it could stall economic funds by russia and iran because they are purchasing record amount of oil. isn't that the root cause of global issues for the us? >> iran is behind equipping hamas, hezbollah, lebanon, the she militia and so forth but it is more challenging than it sounds. edward: how do you get them, contained them?
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should they be going after iran? >> your network will be the first to criticize them if they reduce the export of crude oil. this is not easy. it is easy to discuss the 2 of us on a news channel but it is not easy in practice. the cost and benefits of any action they take. what everyone is trying to do including the gulf states and arab states is to ensure this doesn't become a bigger regional issue. in southern lebanon, israel is responding in kind but they don't want to see a resumption of the war of 2006, would cause enormous damage to hezbollah,
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but it's costly to israel. 150,000 blankets and missiles could overwhelm iron dome, enormous retaliation if they do that. israel is trying to deter that. the same thing we are trying to do in the region. edward: we are out of time, really appreciate it, great discussion. please come back and do this again. thank you. thank you for your service. time to check in with jackie deangelis for what is coming up at the top of the hour. jackie: a big day for retail earnings on wall street. what is making people think twice about buying stocks? with so many dissatisfied with college and the options out there, the stem and aviation
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charter school is taking off. we will talk about that. $1 billion sitting on the sidelines of something but first, more coast-to-coast after this. ♪ ♪ be ready for any market with a liquid etf. get in and out with dia. ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines. the chase ink business premier card is made for sam who makes, everyday products, designed smarter. genius! like 2.5% cash back on purchases of $5,000 or more, so sam can make smart ideas,
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homelessness in their cities. many joining calls from their conservative colleagues to clear out but a federal court ruling stands in their way. what is happening? >> basically these liberal leaders on the west coast were calling the approach to homeless encampments compassionate but almost admitting it is not compassionate and has completely failed. they want the ability to shut down illegal homeless camps. the ninth circuit court of appeals partially took that tool away in 2018 with a ruling stating that it was cruel and unusual punishment to enforce anti-camping laws unless the city has shelter space for every homeless person in the city. that ruling was reinforced by a decision by the ninth circuit ct. this year. liberals have joined conservatives to overturn those decisions after spending tens of billions on housing first initiatives that did nothing to
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solve the crisis. >> policies of the past not been working and even liberal democrat mayors will take an approach that is more effective. >> reporter: the city of los angeles petitioned a supreme court saying even allocating these resources has not abated the homeless crisis which a few wrote between may 2022, and july 2023, portland, oregon officials report they made 3399 offers to homeless individuals and were declined to 2560 times. mayor london breed for the court it's not feasible to shelter everyone who is homeless and california governor gavin newsom said encampments threaten public health and safety, something conservatives have been saying forever. homeless advocates are disappointed in these liberal leaders and their shift on homeless policies. >> these are human beings and
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human beings shouldn't be moved away unless there is a place for them to go. >> it is expected the supreme court will decide whether or not to take up this appeal early next year. edward: the situation is not going away anytime soon. more coast-to-coast after this. ♪
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edward: home sales have fallen to a 13 year low, 13% lower than a year ago. there's no place like home, feels like home and that starts right now.

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