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tv   Boom Bust  RT  August 12, 2017 3:29am-4:01am EDT

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i'm familiar with are you filling in for lindsey graham this is broadcasting around the world from right here in washington d.c. coming up nuclear nerd u.s. and north korea rhetoric is rattling world markets this week stocks are down more than one trillion dollars and terrorist transactions the f.b.i. says isis is using e-bay to funnel money into the u.s. light only european exit millions of aids are recalled after farmers use outlawed pesticides on chicken farms all that a whole lot more so sit tight starts right now. nuclear nerves are rattling stock markets worldwide the escalating war of words
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between the u.s. and north korea has caused world stocks to tumble more than one trillion dollars this week alone its global stocks worst week since president donald trump won the november presidential election the stock markets especially in the u.s. have typically been on a tear since then but the rhetoric being tossed back and forth have some investors recoiling on friday morning trump tweeted military solutions are now fully in place locked and loaded should north korea act unwisely hopefully kim jong un will find another path investors are taking cover in the yen which had an eight week high against the dollar its biggest weekly gain since may the end typically benefits during times of political stress the swiss franc also on a roll seeing its biggest weekly rise in more than a year and investors are also turning to gold and government bonds for security the most closely watched barometer measuring market volatility in the u.s. the vix hit its highest mark since the week of the presidential election the euro
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zone's equivalent also hit its highest mark since france's april election and china's volatility gauge jumped to its highest level in seven months. well south korea's stock exchange cost fell to an eleven week low but all things considered analysts view the week's losses as relatively modest the cost is up seventeen percent this year making it one of the best performing indexes in the world and as you can see here it's still trading near record highs so why is the closest u.s. ally to north korea not as fazed over the war of words between trump and north korean leaders to start south korea is used to seeing tensions with its northern neighbor rise and fall and find the recent increase in threats irrelevant to investing despite the world markets rattled view mom and pop investors see south korea's recent surge as the perfect time to take on more risk in the market and even consider the north korea risk as an investment opportunity and the ability to
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buy stock for cheap as koreans continue buying shares keeps the cost me from seeing more major sell offs the only concern some local investors have is that foreign investors could spook south koreans are used to the tension coming from the north outside of korea others aren't as hardened. finance has made it easier to conduct everyday transactions in many ways both on the web and mobile based platforms but it's also posed unique challenges when it comes to criminal activity especially global terrorism boom bust bianca she has more on that for us now bianka new f.b.i. documents are showing how isis leaders were funneling their money what website where they using to do it so isis uses a variety of digital platforms to do that but these new f.b.i. documents show that they were using e-bay which is obviously an online retailer and
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e-commerce website funnel their money so they're beyond just digital payment systems now they've moved on to new pastures. over a year ago mohamed el shaarawy was arrested in maryland after providing material support to isis but the case didn't turn out like some of the other ones we've seen in the u.s. this time around investigators discovered how the islamic state operated a global financial network using e-bay according to newly uncovered f.b.i. documents elsham now we pretended to sell printers on e bay as a cover for the payments he received from isis on pay pal and they believe the cash they raked in was meant to fund terror attacks a method investigators say was practiced by isis around the world and in fact the network spend all the way to bangladesh and was managed by one of the group's now deceased leaders in syria in a response to the news a spokesman from e-bay said the company has zero tolerance for criminal activities taking place on our marketplace and
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a spokeswoman for pay pal said it invest significant time and resources in working to prevent terrorist activity on our platform and tries to proactively report suspicious activities and respond quickly to lawful requests to support law enforcement agencies and their investigation so far cooperation between the private sector and federal authorities hasn't been enough isis is largely considered the world's richest terrorist organization pulling in millions through theft smuggling and other means but they can't keep all of their riches and cash because it's too risky so they have no choice but to at least partially rely on digital payment systems like pay pal they're also known to use other payment methods like prepaid cards and bitcoin and while they may have mostly been shut out of the global banking system the group still has access to some banks in syria in order to stop isis and other criminal groups from having those abilities a string of laws have been proposed in the u.s. and elsewhere but many of those proposals are controversial because of the new type
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of regulations they suggest. all right bianca let's talk about some of these proposals that you mentioned what are they include. well in the u.s. and a handful of proposals elsewhere in the world we're seeing a lot of suggestions to either heavily regulate crypto currency and bitcoin or ban it all together in direct response to all the terrorism funding activity that they're seeing in the u.s. back in may we saw a proposal from a group of us lawmakers it was the third iteration of this bill they've been working on it since two thousand and eleven it's an anti-terrorism funding bill and in it they said that we should be declaring our bitcoin and cryptocurrency holdings at the border similar to the way we sort of regulate cash if you were to buy something if the earth you're carrying ten thousand dollars on you or you're traveling with it and you don't let the authorities know you might be getting a phone call from them so they're saying we should do the same thing with bitcoin and cryptocurrency is but once out was once that was that detail was added in the bill lot of bitcoin advocates came out and said one this is unnecessary because we
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have plenty of other laws that are meant to regulate this and to crypto currency is very different it's not the same as cash is not the same as credit cards and debit cards it's more complex and that law cannot apply the same way to bitcoin well so do these proposals say anything about cash or do they just pick on crypto currency so they certainly do i mean the thing with cash and bitcoin is they're both anonymous right but once you're like i said in your point of millions of dollars every day you can't just keep piles of cash around it's too risky so they have to put their money somewhere else so they're going to bitcoin it and they're you know keeping up with technology the same way the rest of society is so in january in the e.u. the european commission actually proposed a proposal of cash limits and that was six months after they eliminated the five hundred euro bill so we're seeing the same sort of proposals within the e.u. but there's a lot of opposition and all the way over in india of course that was probably the biggest news last year when they eliminated almost eighty percent of all banknotes
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in regular in an excuse me in the country to eliminate black market crime and just to cut out the black market so it's definitely something we're seeing pop up across the world boom bust bianca sheeny thank you so much for that report. right and now to a report that suggests the two thousand and sixteen d.n.c. hack could have been an inside job former n.s.a. employees have begun to examine the hack and the data points to someone having access to the d.n.c. systems on the inside. this explains why. former n.s.a. intelligence officers are saying there was no half of the d.n.c. system last year but instead it was a leak and they claim hard evidence proves it published this week in the nation link the article details for the first time what the experts call solid evidence in
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the case their results there was no hack of the democratic national committee system on july fifth last year not by the russians and not by anyone else hard science now demonstrates it was a leak download executed locally with a memory key or similarly portable data storage device. after analyzing the transfer rate of the alleged hacked material the experts found the transfer times of the files would simply be impossible without someone being actually in the d.n.c. building according to the report on july fifth two thousand and sixteen one thousand nine hundred seventy six megabytes of data were downloaded from the d.n.c. server the operation took eighty seven seconds this produces a transfer rate of twenty two point seven megabytes per second and twenty sixteen no internet service provider would have had this week capability to enable a hacker to download those files further proving that it would be impossible for groups of her to run the so-called hacker from romania because the findings suggest there would have been delivery overheads which would slow down the speed of
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a hack even from the maximum achievable speeds the article states timestamps in the metadata indicate the download occurred somewhere on the east coast of the united states not russia romania or anywhere else outside of the eastern time zone to determine the maximum achievable speed friends of cato recently ran a test download of the comparable transfer rate forty miles away from his computer through a server that was twenty miles away and came up with a speed of eleven point eight megabytes per second half of what the d.n.c. operation would need if it in fact were a hack further investigation is needed but if there are four proves to be true the former n.s.a. computer engineers claims that this will be the first piece of hard evidence in the d.n.c. hack reporting in new york trinity chavez r.t. . and now trinity is joining us live from our new york studio trinity there have been countless investigations some of which is still going on but it's resulted in little to no hard evidence here what's the likelihood this report will prove to be
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true. good evening simone there are a lot of gray area when it comes to this scandal so further investigation is definitely needed but what's interesting is that no intelligence agency has actually examined the d.n.c. server so we can only hope that the investigations are actually being based on the hard evidence not just easy assumptions or hearsay but since these investigations are not transparent it seems the only way to be sure the investigations actually stay on track is to make the evidence available to the public and since this report how's gone public some say evidence proves that there was no rush and how but then others question exactly how the work was done the nation reported all those who were interviewed came in between ninety percent and one hundred percent certainty that the forensics prove that there was an inside job that happened but when edward loomis who is a technical director in the n.s.a. when he was asked about the other ten percent that he didn't account for he said
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that he looked at the work and it showed that there was no russian have but he knows that he wasn't the one who actually did the work that's the ten percent that he was talking about trinity it's been more than a year now since back do we know how long that these people working on this report now these experts have been working on the do the d.n.c. case immediately after all the events transpired in last july last year they claim that they have had decades of experience in matters like this concerning russian intelligence and are even a part of a group called the veteran intelligence professionals for sanity also known as v.i.p.'s or to use your new job as a new york thanks so much. ok time now for a quick break but stick around when we return a border crisis with billions of euros at stake how europe lost ninety nine per cent of the reserves later lionel joins us to talk taxes on robots one country looks at the punish the use of robots for fear of the workplace human workers as we go to break here the numbers at the closing bell.
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sex drive just levels the level. when customers go buy your supplies. in elf well reducible our. that's undercutting but what's good for market but good for the global economy. about your sudden passing i've only just learnt you worry yourself and taken your last wrong turn. to you as we all knew it would i tell you i'm sorry suddenly i could so i write these last words in hopes to put to rest these things that i never got off my chest
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. i remember when we first met my life turned on each breath. but then my feelings started to change you talked about war like it was again still some more fun to feel those that didn't like to question our arc and i secretly promised to never be like it said one does not leave a funeral the same as one enters the mind it's consumed with this one to. speak to now because there are no other takers. claimed that mainstream media has met its maker. social environment you're right. chemical discoveries over the last century made every day life easier but at what cost this is syria was exceptionally sick. no wonder it's. says since the years of industrial
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giants reap the benefit. caused by chemical production. as if these people are. just experimental animals decades later the toxic environment continues to poison lives and we found these astronomically high levels of dioxin levels that my staff think maybe some of the highest levels ever in the united states for almost thirty years this very serious problem had not actually been addressed what will that investigation into the chemical industry secrets revealed . this to. the earth or. contaminated with a potentially dangerous pesticide are spread around stores and restaurants all over
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the eastern hemisphere triggering massive recalls though many of the eggs have already been eaten people in fifteen european countries along with hong kong and switzerland are at risk though authorities at this time are downplaying the damage the substance can cause the eggs originate from the netherlands belgium germany and france they've been found to contain five brunel a an insecticide used to kill weiss and takes but that's banned by the e.u. for use in the food industry authorities believe chicken farms used to anyway to combat lice affecting the eggs of laying hens the insecticide can damage people's kidneys liver and thyroid glands if eaten in large quantities at this. time experts believe the amount aids is not enough for serious risk to public health authorities though have shut down more than one hundred poultry farms during the investigation and even made some arrests the u.k. received about seven hundred thousand aids from potentially contaminated farms and processed foods containing aids have also been pulled from supermarkets belgium the
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netherlands and germany have withdrawn millions of eggs from the shelves in france about two hundred fifty thousand effective aids have already been sold in the country since april and the remaining eggs are being taken out of the stores the newest victim now is hong kong whose government just identified contaminated dutch eggs last week and asked shops to remove the products european ministers and regulators are meeting at the end of september to discuss the crisis. and they aren't the only breakfast food under attack in europe the block is in the center of a major voter crisis with the price of europeans morning croissant or pastry set to explode apparently europeans are eating an increasing amount of butter and there is a shortage of milk production so the decrease in supply an increase in demand has the price of the popular dairy product doubling this year the numbers associated with this story are seriously mind boggling according to the european union but it reserves have fallen ninety nine per cent in the past year in may of two thousand
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and sixteen the e.u. held more than ninety two thousand tons of butter by may have twenty seventeen the reserve was down to less than fourteen hundred tons but our consumption is back on the rebound after years of consumers turning to alternatives like margarine that's because the new health craze is getting back into more natural less processed foods butter demand from china is also booming pastry chefs are warning the price of their products will have to rise because of the crisis now while it may seem like a petty french problem the pastry industry rakes in big bucks in france around eight half billion euros a year leaving many to utter i can't believe there's no better. we know the retail industry is struggling but it seems casual restaurants are not far behind on thursday the company that owns applebee's and i hope announced it plans to close as many as one hundred sixty restaurants underscoring the pressure
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of casual dining restaurants are facing shares in the company dine at what he have fallen forty nine percent this year joining me to talk about a restaurant realty expert harold schumacher president managing broker of the schumacher group harold thanks for being here i'm at i want to know like what's the biggest driver behind such a shocking turn for a company like dine equity they originally thought they would only have to close sixty stores now announcing one hundred sixty what is it it's it's actually the cumulation of along a longer period of time if you think about diners to day experience. the majority diners or younger people who are just tired of it similar rig spirits everywhere in the country they want something unique and different and the applebee's the chili's the i hops of the world are not providing they're providing the same product the same look everywhere in the country and i think the majority of consumers are just tired of the looking for a variety of alternative choices so you see this more as a lack of foot traffic going into these restaurants. it's it's it's
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a combination of a lack of people coming there and more and more choices to go to if you look across the country restaurants have been the fastest growing segment of the retail industry and frankly been looked at as the savior something like forty five percent of all the leases done twenty fifteen restaurants and if you think almost any city in the country and you start thinking you can begin to rattle off five six ten twenty thirty restaurants a robot in your neighborhood in your market in your city in the last couple years so it's a combination of fewer people wanting your product added by the factors a variety of new choices to go to do you think that the restaurant industry and casual dining places like applebee's do you think that they were pushing too much aggressive growth and expansion for a time did they get themselves into this mass basically. he tips the easy temptation is to say probably yes but at the same time what they were doing as far as the saying is retail follows rooftop so is the suburbs grew especially in the
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ninety's and the two thousands around the country shopping malls were built shopping centers were built the restaurants just followed the populations and for a while it was in balance and probably the last ten or so years the balances begin to shift as a new generation of diners have come into the picture now of course we all know with businesses location is key it can make or break a business what would you tell a restaurant company to look for when deciding on a location. i wish it was quite easy ideally want as many audiences ideally want as many audiences possibly want to have a daytime audience an evening audience a weekend audience and an audience of travelers visiting your city area and you seldom get all three then you have to pick and choose there ok i'm really good at breakfast i'm really good at dinner and so it's a combination of things and people have figured out there are still there are winners and there will be winners that will merge it'll just be interesting to me to see what those oversized restaurant boxes are going to become three and five
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years down the road carol do we think the winners right now are the fast casual restaurants like pinero brad or chipotle a are are they the reason that these older school restaurants are having to close their doors they're a big part because we think about if the customer can get a quality product quality quality food at a premier or. chipotle but not not paying a tip so the saved the money and the quality is inching up where is as good as what you might get in a sit down restaurant it's quicker the atmosphere is a little more warming and friendly spontaneous the surroundings feel fresher they're not tired. so that the fast casual competitor is a big big part of what's nipping at the casual dining. restaurants around the country now there are some economists like goldman sachs that are arguing that the commercial real estate property values have been stretched now and now they're overvalued obviously we see so many retail industry shutting their doors so do you
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think that something to worry about our commercial space is too expensive. well that's a couple different questions as a broker we are representing the tenants so we always think it's too expensive. but in general i think most a lot of economists are are saying that there's anywhere from three to five thousand too many restaurants in this country and the the inventory has to pare down a little bit and i think that will occur and i think you'll see people pick up that space but restaurant retail roll rates in the most the major cities in the better markets are on the increase so yes there are pockets everywhere in the country where rates are what they were twenty years ago but if you go to atlanta or any other big city and you want to be in a desirable you know who cool hip neighborhood rents are very aggressive and as high as they've been maybe ever in many many situations so even if applebee's closes its doors there's going to be someone else move in and harold you know
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you're talking about you represent golden corral hooters logan's roadhouse you know a thing or two about restaurant real estate harold schumacher president and managing broker of the schumacher group thank you so much for talking with us today thank you appreciate it. amid fears robots could take the place of human workers one country's government is making the first moves to disincentive bias automated technology the administration of south korean president moon j.n. apparently plans to downsize the tax deduction benefits previous administrations have given to companies that actually invest in productivity boosting infrastructure like robots let's bring in legal and media analyst line of vinyl media to talk about this one because lionel i can't think of anyone who wants to talk about robots more so there's his love i know you do there's this notion of an a regional robot tax that to make up for the decreasing tax revenue on the worker side obviously if workers lose their jobs to robots the government loses income on
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that tax revenue and has to figure out how to pay for the welfare programs for all those people that lost their jobs but this isn't quite a robot tax it's sort of related what's your take on it. well first of all south korea is that a seventeen year high in terms of unemployment and they have like five hundred robots for every ten thousand workers i mean robots are critical not over they're going to do perhaps suggest are going to hand craft a hyundai and some coleman appalachian i don't know but look who's behind this look who supports his bill gates bill gates said you know when a robot is used to what a robot makes let's say or a person the factory worker makes fifty thousand dollars we tax the muscles and security and income tax but when a robot makes whatever it makes there's no tax so they're going to go from like a seven percent corporate investment benefit to maybe two percent but here is the idea imagine simone if you're
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a hyundai which of course most of the businesses that are affected by this are or automation businesses warehousing automotive in the way nothing really evolving but your going to cut down. down on your innovative addition of of robots to to do what exactly to become more effective it does it and. while is there a danger in what you just said in coming up with a way to deter companies from natural innovation i mean are we just delaying the inevitable here it's going to happen exactly there's over a million going to fifty two million people and in the south where they've got a million who are jobless so the idea is that whatever monies they can make up in terms of reducing that tax benefit you can go to welfare programs and unemployment in the like but that's just a quick fix look this is the reality when you have let's say jeff bezos and you
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have these huge warehouses that one day are going to have no human workers they're going to work twenty four hours a day think about this pitch black in the dead of winter or in sweltering heat no problem no unions no over time no workman's comp no injuries no labor no strikes no nothing no restrooms no no slip and fall no insurance no nothing it is absolutely a job now products go up retail goes up stock prices go up instead of go up stock goes up this is terrific however unemployment also goes up what do do you. simone how do you tell people stop being in the stop stop making your business more efficient stop competing with. it's a terrible one. right when when you're talking about stopping you know strikes and things like that i can just imagine the c.e.o.'s around the world drooling at your
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words lionel well i have to leave it there glad to have ended the show with you thanks so much legal and media analyst lionel white on media always a pleasure thank you ok all that'll do it for us for now you can always check out the show on youtube youtube dot com slash boom bust r t thanks for watching us we'll see you next time. here's what people have been saying about rejected in the us is it actually just pull along on the only show i go out of my way to launch you know what it is that really packs a punch oh yeah it is the john oliver of r t america is doing the same we are apparently better than. the c. people you've never heard of lo jack tonight. president of the world bank so very.
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seriously send us an e-mail to begin. to believe that you. were talking to you. because i love. you. without a lot of input about. what i'm about the same as our what i was up the money into so maybe so but you need. no to the long low i left my. home and. just say. all. right so. you know there's a long way to be made by. other people who was on the go.
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so. we all willingly accepted the risk of being shot wounded taken prisoner but noone signed up to be free poisoned by our own people that was nuclear biological and chemical products the said do not truck tires all types of styrofoam polystyrene batteries trucks there was a complete denial i think at all levels of government that there was any connection between berm pits and what these brave soldiers were suffering from to compensate every soldier marine airman and sailor that was on the ground that are complaining about illnesses from their exposure from the berm pits would really literally send a be a pro and they don't want to pay it so the waiting decades
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a lot of those soldiers will die in time and they will have to pay and. get the middle finger the movie is the model is. delayed in. the headlines on r t international two young girls reportedly taken to eisele controlled territory by their parents all recognized by their grandparents back in russia. the film to a baghdad. here's a broker. for. you will with north korea steps up the president now warning leader kim jong un but he will regret it. unwise thing. and i found officials.

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