and now that he went. over western military action against the syrian government this week resulted in turmoil in the financial world with oil spiking to a six month high and investors pulling out of global axes with concerns that an attack on syria will bring about serious consequences and threaten global supplies meanwhile safe havens gold and u.s. treasuries as investors proceed with caution so it's more a market's reaction to the political rhetoric over syria and joined by mike ingram from b.b.c. partners it has been a tumultuous week for the markets there's been a lot going on can you just start off by telling me the general thoughts the anxiety what is it general feeling in the financial world at the moment in response to what's happening. well i mean i think you know the prospect of the west getting in improving waters at this stage of the syrian civil war just added to troubles

that the market's been having over the last few weeks and it's coming into the background of very thin some of volume so the reaction is it's probably more dramatic than might otherwise be but if you look at the you know the list of concerns that the market has at the moment you've got a situation where we don't know what kind of form the fed tapering is going to take this year we've got possible succession issues for them but one keypress by larry summers it seems at this point that the fed and we've got you know actually ongoing trouble elsewhere it emerging emerging markets so then has come out and said that we could say if we do indeed see the situation in syria escalating we could see an oil price of one hundred fifty dollars a barrel can you explain to me one crashes if that was going to happen what prices that would put on the global economy would have a massively detrimental effect on growth pretty much everywhere there are very few

beneficiaries you can imagine when officials are going to be the oil producing states in the gulf probably nigeria with africa for pretty much everywhere else. even for russia it's broadly neutral and generally speaking the countries which are going to get hit the hardest are those with large relatively inefficient manufacturing base is top of that list india and china india is already struggling china has got a relatively competitive currency at this point or two at that it's pretty tough the last thing it needs is an oil price shock and of course that's a knock on effect into a broader sense of consumption if you a disposable income is already being squeezed and that's like you have knock on effects on you know the broader economy retold trade is likely to be deeply dire and. taxation really is going to die out on the back of the budget deficit. we have so you know there's the second right effect third rate effect i mean the list to see pretty much all this year so so yeah it's not good news of the say that you

know as it said before that the most impacted things like steel production out of many of production is incredibly energy intensive these are just the sort of things which are going to you know drive the costs of these these companies engage in these activities sky high i let's talk about gold because it's been an interesting week once again for gold we've seen it surging is it still in these times of uncertainty the investors flock fault tools gold is it still be ultimate safe haven to think that's been proven this week. i don't think gold has been totally rehabilitated i mean gold is now technically back in the bull market it's about fifty percent up from the lows that we saw the year that you but it's still down fifty percent from where it started here is still down twenty five percent from where it peaked last year view of the recent activity on gold is that it just got to the point it was so cheap that people thought well we're going to be

having to physicians i have to say that's a twelve hundred twelve fifty dollars an ounce level you know huge chunk of the fifty percent of global production just gets taken out so there's this big fundamental support there you know that maybe some upside from current levels but you know it doesn't look like it's going to challenge nine hundred dollars an hour any time soon so the situation in syria again just adding to all of the just behavior on the markets they might enter in from b.d.c. promise thank you so much for your time. the greatly anticipated g twenty summit hosted by russia in st petersburg kicks off this coming thursday with the theme of growth and employment there are great expectations that the summit will result in prescriptions for boosting the health of the global economy so i call that with the head of the russian delegation because i need you to live a good. better idea of the she is. the main mass is as follows are well of course

global economics who do. better in many direction than she used to be before even easier however is that our fundamental problem which have not been solved yet this is a problem of economic growth. in different parts of the world are. cyclical problems but also fundamental problems or finding new sources of growth are attracting the best stimulate investment finding new sources of financing for investment in private capital of. even those types of front was where more money government the major role give one of fiscal concerns which we all have are all second rule leaders it. is also known as should your month long charming medium to our financial and fiscal stability we've

done enough. and now moving on to some corporate news that we're going to get started with the airshow it took place this week just outside of moscow now the deals united aircraft signed contracts we're told pleading dollars meanwhile though so fifty planes to russia do a valued at three point four billion dollars and the e.p. leasing six point field to get a total of two hundred seventeen billion dollars. budget airline world begin operating next year bell that's destinations it will fly from go to college or grad. and pieces for the first two years the discount will operate only along the most profitable routes in the european part of russia. pharmacy chain thirty six point zero eight over ten percent this week after selling its trading stake in

drug a make up there a farm too for sixty nine richest man for man idea for five billion rubles their fall itself also find it was the first. one of russia's most powerful richest man the head of potash empire you're right calley was smashed him better oose airport this way but my all story says that mr baumgartner the first hostage in the potash war was detained put in hank also after visiting belarus for a meeting with the country's leader he's accused of abusing his power in the partnership that collapsed between euro cali and the belize partner but there is cali now before the biggest cartel collapse these two companies made up over a third of the global twenty three billion dollar industry russia's reaction to this scandal is clear with the deputy prime minister describing it as odd inappropriate or not fitting to a partnership considering the president of bellary styles himself as europe's

lastic tazer the chances of escaping the country could be tricky and if mr byrne is found guilty of abusing his power he faces a ten year imprisonment with a conversation of his property to potentially millions and the next target in the potage wars is solomon of a major shareholder in the russian chemical producer after the russian authorities revealed they now want to arrest him. hello mr schoen thomas you are in house investing here r t you got ten thousand u.s. dollars at your disposal we want to know what you cannot see even during a month we want to know how much money you've got that the first of all before we get into all about the details of the zero what's your opinion on this cali the bar all that's going on at the moment the scandal of it all so many. it's absolutely crazy we've got corporate price fixing global espionage we have whoever thought there would be

a fertilizer cartel and even in an rage the president the last dictator of europe self proclaimed by the way it all has the makings of a cinematic through i think that we should get to work on writing that script as we said and we need to star in it as well i want to start a revenue that potash could be interesting to me gold and oil i get all the headlines that now at potash wall we're running on guys over that base is meeting gets national television in its hang up or going on it's getting messier and g.c. as we go on so watching that one big time thought we're also watching you how much money if you got left what have you been up to say well you know it's overall i'm down and we'll get to that here in a second but this past week we were focused on oil and airlines specifically araf lot and good kind of great news or oil has gone up i've done really well kind of recoup some of my losses but because oil has done well aeroflot and the airlines have not done well so it kind of hindered my progress there because you know

airlines they need fuel to get those jets up in the air and so the price of oil going up means that airlines don't do well themselves so if you look at the ten thousand dollars that we initially started at and by the way this is a good reason to show people why they shouldn't follow me because i am not an expert just kind of an armchair investor if you will but we started off with metals i was really excited about metals lost two thousand three hundred sixty nine dollars which brought me down to seven thousand six hundred and thirty nine dollars ish not really feeling good about that one then i decided to go into oil that did well it kicked me up about eight thousand eight hundred and twenty five dollars so i'm down to one thousand one hundred seventy five from where i started but basically really glad i got out of the metals. i'm hearing that even gold isn't doing too well so it was the metals that killed me in the beginning stretch that was a real beating i remember that one bad first week for years and it's so interesting

we talk about oil because obviously i was chatting to mike earlier on and they're sad as it sounds they're all some guy you know is in all of this because it has been so. you're one of the game is in the water you got plans for next week that what's that you'll slave well i'm in the mood to get back to where i started at least and maybe make something make some more so i'm going to stick with oil because if you look at what's happening in the news this is where i get my information theory a serious serious me as oil prices are going to continue to go up people going to continue to watch that can get you to conserve and save i think that that's the way for me to get my money back and if i do break above that ten thousand mark i promise you you and i can go somewhere on this aeroflot budget line that we were looking at from last week and the tickets are on me if i make a little or we could buy a lot at sixty three me generous of the splashing out on budget airline tickets from a shell and you are thank you very much and i like the fact that your clothes this way give only the clothes on because you have been losing them nearly where your

glasses yeah indeed well they broke my arm without the glasses sounds glasses if you will and i'm waiting to get some of those losses you know erased and make some money before i get them fixed right so you can get nice and we want like a really funky maybe right pair us on my go out with the bling operate on bullying bling for our in-house investor show and thomas seem to be brings up thank you very much and good luck next week and sounds like you going to stick with oil indeed and that's all for this edition of venture capital next week i'll be filming from pieces that are the g. twenty summit they never. are.

technology innovation all the developments around russia we. covered. could you take three. three. three three. three. three. three broke video for your media project free media r t v dot com.

thanks for staying with us forty three minutes past the hour the situation concerning gay rights in russia has been triggering here was debated by activists politicians even athletes a new law prohibiting gay propaganda to minors has sparked calls for a boycott of the upcoming winter olympics in sochi in february my colleague bill di discussed the issue with a panel of guests earlier this week. we have been accused of not covering this topic here on t.v. and just last week a freelance reporter the by the name of james kind of cheek he brought he certainly into the spotlight to me with great style one has to say and he says that he made a. choice if you want to do a twitter follower bump for him but to get to the point this by the way is our third panel on gay rights in russia but that's beyond the point kurtz that came on to r.t. to let us know what he thinks about our coverage or lack thereof of gay rights in

russia and this is what happened you know being here on the kremlin funded propaganda network i'm going to wear my gay pride suspenders i'm going to speak out what about bradley manning plus time because you know i don't i'm not really interested in talking about bradley i mentioned talking about being a riff environment of homophobia in russia right now and the russian gay people know that they have and they have friends and allies all right saying those are just about done. i only go on that station with the russians so i don't want to waste too much time i critique we did invite him to speak tonight he denied saying that he said in interviews around the world after this event that r.t. is not a legitimate news channel but he just believes it would be supporting putin and his mouthpiece and that he won't participate in discussions on our network to give it credibility but i think that we should not spend too much time talking about current you can talk about the real issues absolutely we invited peter tatchell who is with us now in london with regard to the end to get a lot.