into action its first target and initial clean offering by a canadian company we'll talk to alex mchale of veggies about the latest but first let's check out the new stories topping the headlines. jay powell is on track to be the next chair of the federal reserve after being approved by the senate banking committee vote today by twenty two to one with only one democrat democrat senator elizabeth warren opposing the nomination the full extent it is expected to occur firmly in the not too distant future mr powell who has received bipartisan support in the past he's sort of the federal reserve governor since two thousand and twelve mr powell also is set to replace such replace chairwoman janet yellen who's term expires in february and that same senate banking panel today also consider legislation to scale back some of the wall street reform and consumer protection act of two thousand and ten provisions known as dodd frank as the regulations relate to small and medium sized banks it's one of the areas where even

a few democrats agree the law may have gone too far. under a proposal offered by chair might create though the threshold at which banks are considered too big to fail would be increased from fifty billion dollars to two hundred fifty billion recall the government bailed out many banks with hundreds of millions of dollars in the wake of the two thousand and eight financial collapse chief among those were the bank of america and wells fargo both fed chair yellen and gov powell have voiced their support for the idea. that coins rise to the top is not over yet as the london markets opened on tuesday morning bitcoin posted another record high with each coin in the upper eleven thousand dollar area the rise comes as more and more investors and financial companies are showing growing interest in crypto currencies bit coins rise however has not been easy and the volatility has been a rock n roll roller coaster help pushing confidence and bitcoin and perhaps the

price was the recent announcement from the chicago mercantile exchange group c m a group that the world's largest most diverse futures exchange would offer a bit coin futures contract on december eighteenth not to be outdone the chicago board options exchange announce their own bitcoin futures that will be starting on december eleventh and even nasdaq is jumping into the digital pool they say they will offer a bit coin futures contract some time next year. the organization patrolling exploiting countries and other oil producing nations importantly russia have agreed to extend their one point eight million dollar barrel day cut through the end of next year those cuts which were agreed to at this time last year have a had any real impact on raising oil prices and what does the future hold for us in global oil and how might that impact you and businesses which really rely on

a. horrible fuel costs let's drill baby drill sorry into this issue with tyson quote cloke i'm the director of public citizens energy program tyson thank you again for being with us it's always my pleasure so tell me how has this impacted this cut opec in the other countries how has it really impacted prices or has it since they agreed to it about a year ago you know not much it's really just a couple dollars a barrel and you know last night we saw oil prices go down two percent after going up a couple dollars right after the announcement the fact is that opec isn't as big of a deal anymore yes they can announce taking one and a half million barrels of oil off the market but the real drivers right now are what's going on with consumption and the biggest question marks there are what's going on with the chinese economy is it going to grow or is it going to contract and of course replacing gasoline powered transportation with electric vehicles and

other alternative forms of transit that's really what is threatening prices more than opec cuts you know what used to be that every gotten tiddle that opec did anything that they did really did move prices but do so many other large energy producers in the space the u.s. of course and russia and russia as part of this deal with opec i mean how key are they as part of keeping the production flow down a little i mean without russia opec would be completely irrelevant and it's really important to note that there's two countries on the monitoring committee for these production cuts it's russia and the saudis so opec is kind of this ragtag group of countries there's a lot of countries with some economic and political upheaval going on and so there's questions about whether or not there's going to be integrity with some of these pitches and goals on the production cuts and even within russia there's

disagreement there are some russian oil producers. you know i don't want to see these cuts because they want to bring money as much as possible so. you know and since one thousand nine hundred two. opec has had a ninety six percent cheating rate on its stated production targets and so there's a lot of opportunities here for countries within opec to cheat on these targets and i know for that that first year you know this this year that we're currently in there are these issues because you know iran was still below production because of the sanctions and they wanted they did one of the sticking caps and other nations were also wait give us time to ramp up but now at least theoretically they're all supposed to be with with within these caps so oil just closed today at fifty seven fifty seven sixty to go when this agreement was put into place it was something like fifty two bucks so it's really only up five dollars fifty five i

don't know if six weeks or something like that it hasn't been that mean for us energy i mean or into a oil suit last several years until but before that we had been right right right and so there's no question but that some of these u.s. dynamics are a big part of this but make no mistake the big thing that's going on with global oil markets is issues with replacing the gasoline fire fueled internal combustion engine with electric vehicles and with mass transit in the meantime though improving fuel economy standards are a huge knock on on growing oil consumption we estimate that over the next decade or so more than eleven million barrels of oil are going to be taken off the market due to commitments that countries like china the nile they really know today right through because of improve fuel economy stand what eleven million a day is

a huge number when you consider i don't know the exact figure but the. we produce about ten million barrels per day so essentially you're saying the amount that we produce every day would be taken off the market by electric vehicles would globally globally but still mean that the comparison is still key so we should have you back to talk about some of this in more detail but let's talk a little bit more about the dynamics in the u.s. energy industry right now what's going on in the aggregate i know in the balkans where we're we're drilling there are more and all these new and innovative ways but you know how is the u.s. energy sector doing i mean it's doing pretty well i mean we're we're going to see continued mergers and acquisitions you know low oil prices don't just hurt the national economies of russia and saudi arabia they hurt the bottom line of major oil producers in the united states so what you're seeing is a wave of mergers and consolidations so you're going to have even fewer major players operating in the bokken up in north dakota and the eagle ford down in texas

and that's going to make them financially more secure going forward to weather what might be a rocky road for oil prices so if we say that opec and russia and others are cutting we're filling that gap if the supply and demand equilibrium is roughly remained the same nothing should happen but will the demand increase next year whereas the other place saying about demand going or is being relatively flat but i think that the big question mark is china you know china several years ago was the reason that we had is in oil prices as a chinese the brakes have been put on the chinese economy and expertly growing at six percent right right. take it exactly and so it's really unclear we need to get more information about how the chinese economy is going to two part question how it will typically affordable in the u.s. impacting u.s. businesses and then i would have cents a gallon and for most consumers and businesses that's

a bargain and so. when you've got low fuel cost inputs on your household on your business you know it's like a big giant tax cut and so. cheap energy not just in the transportation sector but the electric power sector right yesterday the wall street journal had a great article about how the us electric power prices are at record lows being driven by cheap frac natural gas and renewables and so americans are enjoying a bounty of access to cheap and increasingly sustainable energy which is a big change from years past and these businesses and i mean whether or not it's delivery services or people moving goods to consumer goods all across the country or even airline tickets for those about to make a trip during the holiday season the supportable gas prices are a good thing where the cheap prices cheapest in the u.s. and where they most expensive are the cheapest for gasoline is in the gulf coast united states so from texas to louisiana to mississippi they would be fine

a lot of the problem most expensive is california and that's really even though california is still a big oil producing state with a lot of oil refineries but they've got a lot of environmental standards and clean car standards that raise the price. of gas so in the gulf coast it's around two dollars and thirty five cents on average in california it's about three dollars and ten cents out it all has to do doesn't it with how far you are away from where the oil is produced from oklahoma which is always low cost because that's where cushing is where the contract is delivered and then state and local taxes so that can impact the price a lot for consumers tyson slocum director of public citizens energy policy thank you again for being here really informative always helpful great thank you. quick break but stick around because when we return we'll find out why do parents may be benefiting from the g.o.p.'s new tax bill plus securities and exchange

commission's new cyber unit is investigating a multi-billion dollar scam alex behala visual joins us from toronto with the latest now so go to break here all the numbers the closing bell. welcome to max keiser financial survival guide. looking forward to your pension down. yonks this is what happens to pensions in britain. you watch kaiser report. join me every thursday on the alex i'm i'm sure and i'll be speaking to guests of the world of politics sports business i'm show business i'll see you then.

you are a success but the purchase. ok the story of the. second is. all it is just for them based on the unspoken between them. the scale of the sponsor the sawyer listening to the numbers and he makes the dots that come out right that are john's and i'm based on on my show last night and then can i do not do that i will just write a strong track not i don't i'm not a killer on the show i cannot. change something on the can you someone else you are now with the button on the. record that says.

the united states isn't the only country paying attention to the u.s. senate's tax reform bill companies such as tokyo berean holdings one of the japan's largest and oldest insurers is looking to cash in on the potential overhaul of the us tax code over the past few years the company has spent billions of dollars acquiring various u.s. insurance assets which now ranks the company among the top ten non-life insurers in japan tokyo marina holdings also announced recently that they have a deal to buy a i g's medical stop loss insurance business with the u.s. tax bill set to set court set to cut corporate offset more than five hurricanes while hurricane real cutting prices across the board attracting buyers looking for cheap deal or is now up for sale per one there is still significant risk while you

have to seen its real estate market recover puerto rican property has remain low. due to disease zeke virus scares hurricane rita of course and the government's latest defaults on its billions of dollars of debt. it seems every week we're hearing about yet another sex scandal involving a high profile man in power without a doubt these scandals have rocked the media entertainment politics and technology industries and while this type of behavior isn't anything new in the country the outcome and swift results in many cases are definitely a turning point r.t. correspondent ashley banks is here with the details according to a two thousand and sixteen report by the equal employment opportunity commission eighty five percent of women have reported being sexually harassed at work whether these women worked in media entertainment politics task or something else they've either quit or left the end astray because of the abuse they faced but that's beginning to change let's take a look at a couple of examples where accusers were fired from their positions today show host

matt lauer was paid over one hundred million dollars by n.b.c. news over the course of his career before he was fired for an appropriate sexual behavior in the workplace lauer was among one of the highest paid a host on television pulling in twenty five million dollars annually before he was terminated his germination comes at a time when the today show has been the top rated morning news show among twenty five to fifty four year olds for the past two years however that is starting to decline according to nielsen total viewership for the program is down ten percent however the today show is generating a lot of revenue just last year the show generated five hundred eight million dollars in advertising and allow our case it's not known if his removal will financially and past the network at this time and d.c. is tasked with finding every placement for lauer to ensure the network doesn't leave viewership to its competitors. i recently met floyd's house of cards star

kevin spacey was accused of sexually assaulting several people shortly after the allegations surfaced a media rights camp at all which produces the show in baltimore maryland for netflix and then also will be filming its six and final season without speed c. spacey will be replaced by robin wright this season will only feature eight episodes which is much shorter than the thirteen episodes the series usually and klute flicks plans to use original content in the last season costing the company between seven and eight billion dollars that's of billions of dollars from the previous seasons now according to the maryland film office first season one the company received a tax credit of eleven point six million dollars eight hundred maryland businesses were involved in close to twenty two hundred marylanders were higher the economic impact was estimated at one hundred thirty eight million dollars first season two

the company received a tax credit the fifteen million dollars two thousand businesses benefited from the production then more than thirty five hundred marylanders were higher the economic impact was estimated at one hundred twenty million dollars and for season three of the company qualified for a tax credit of up to fifteen million dollars the estimated cost and economic impact were similar to season two now that spacey has been fired for sexual allegations will cost the company billions of dollars to film its final season and d.c. and the flicks are among the many companies like fox news and p.r. who have felt the financial impact as a result of key players being accused of sexual allegations. daschle that's so such a great report thank you and you know it makes me think about the when you mention the executive travis kalanick you know when these leaders of these companies leave they have to have what we used to call in government

a coop plan which is continuity of operations mean you need a plan to figure this stuff out otherwise as you say it could cost them a lot of money and do you now in provinces case it's because he there were a lot of sexual harassment allegations against him and forced him to resign earlier this year and experts are saying the value of hoover is not the same now that he's gone now according to experts places like hero price and other mutual funds they've slashed the value of their stocks and when it comes to our band gard vanguard had seven point five billion dollars u.s. growth fund that own shares in hoover and they've selassie their stocks by at least fifteen percent now experts are saying you know while some investors they haven't touched their stocks others have but this is as a direct result of travis's resignation you know. i like to see these folks go down but i want to see some of these businesses survive and join

robin wright who do a great job she she won a golden globe for this role and even though it's a shorter season it will be fantastic ashley banks thank you so much you're welcome . the u.s. a series exchange commission's new cyber unit has jumped into action for the first time charging in a target in a national coin offering an ice c.e.o. by a canadian company the company has reportedly raised fifteen million dollars from the thousands of investors they have solicited promising big bucks and less than twenty nine days but the f.c.c. is calling it a scam artist alex mahela ventures and toronto with the latest alex tell us all you know when it comes to financial tell technology right now i see those are one of the hottest topics out there what happened in this case to get the f.c.c. involved you know we've all heard of big codes but have you heard of plex coins

because i sure as heck haven't until now but fifty million dollars worth of people did there and so they were investing in this thing called plex coins a guy by the name of dominic la qua he was heading a company called plex core out of callback canada and he got some people to invest obviously well the f.c.c. jumped on that very quickly and they realized something was happening here that wasn't one hundred percent kosher so they took this and filed it and courts in brooklyn new york you can be sure that the canadian government cooperating with this quite tightly but so this is basically what happened so they say that this is just a major scam they're alleging that look why plex corp that is the sole securities called plex coins on the internet to investors in the u.s. and elsewhere now this is very important security so we know that the f.c.c. basically took this type of crypto currency back in july and made it official that these can be looked at as securities so this is where this all comes into play now

here's the scam this guy was saying that within twenty nine days that you could get a one thousand three hundred and fifty four percent profit from your investment that's very precise but that's why. he was promising this is what the f.c.c. had to say though about this whole ordeal there's grubber cohen he's the chief of the cyber unit at the f.t.c. saying that this first cyber unit case hits all of the characteristics of a full fledged cyber scam it is exactly the kind of misconduct the unit will be pursuing we acted quickly to protect retail investors from the initial court offerings false promises so merchants a court order against the founder and flex core brand as well as the founder of girlfriend who is involved in this. bank accounts are frozen what that c.c. is hoping to do that a lot of these transactions were done through credit cards so they're hoping to get some of the money back to the people. also another big player here was pay pal pay pal three hundred eighty thousand dollars worth of the transactions went through

that company and they were able to stop a lot of these transactions to from happening they smelt a rat and they were right. you know alex when you when you talk about you know they they promise this precise amount of income and in a certain amount of days i i wrote a book several years ago when i was in government puns ammonium how scam artists are ripping off america which which you can get online it's free it's not something i make money off of but one of the things that i tell people is if there's some time constraint you field an do you feel unduly pressured be very careful and nothing is without risk and there are good i see those going on out there and there are bad i see i suggest be careful about any promises but we haven't spoken about bitcoin but i'm curious could you give me your thoughts from from up north on what you think is happening with bitcoin and your feelings on it oh i'm angry about bitcoin because somebody told me a couple years ago to buy it at three hundred fifty dollars and i didn't so i have

one wealthy man so look now we're sitting at just under twelve thousand dollars per bitcoin it's really one of those things where you're getting two very polar opposite ideas about what bitcoin is and what bitcoin is going to be. professionals or i should say experts out there that are saying it's just a scam it's a pump and dump situation just like what we saw here with with this crypto currency that we're talking about even if it's gathered so much momentum it's still there is a possibility when something rises so quickly it could come crashing down but on the other side of the printer spectrum you're seeing people getting involved you talked about earlier in the show about two exchanges saying that they want to do something with this and move it forward to to create to make it more solid in the whole financial scheme of things so that's a possibility there's countries in this world that actually look at bitcoin and they've made it into a currency that they have made as a currency on par with anything else on the face of the planet but still this is

something that an tangible bitcoin is being used for purchases like buying this crypto currency that we're talking about today if you don't see it really being used to buy cars or or houses. anything at that level yet but if that happens well you know what bitcoin might be here to stay and these other ones well that just kind of go away especially when you have a scam situation with the one we're talking about today thank you alex r.t. correspondent alex mahela vision thanks for joining us that's all for now be sure to catch boom bust on you tube you tube dot com slash boom bust r.t. see you next time.

if you trust the mainstream media well then you're in the minority sadly a great deal of media today is not designed to inform but rather confirm political biases this approach of the news is not only polarizing but it's also lowering journalistic standards this is why readers and viewers seek their news elsewhere. and is getting international recognition with the help of israel at least in the world of zoos. to commission to do it like you know. this isn't my cup of tea is going up the study hall maybe you know john you know about. the only palestinians who gets the most hopeful is to restore counterparts i don't think there's some of those who were on the vision the one who could do this. and that is all of us not just you have to this lady of the most of that you have i don't want you to continue muslims you know doing the most also don't put this off .

it's a. wonder when they get a car like this it is. in the mood to going to say. this i wrote these are the new rights for women and men in all the men to. come up with this for a moment up in the us as they want us in the view. of those. of us that.

our breaking news story this hour russia is banned from the two thousand and eighteen winter games but the international olympic committee will allow individual athletes to compete under a neutral flag. there is a dismay among team russia as athletes watch the down cement being delivered at the i.o.c. headquarters in switzerland. or broadcasting live direct from our studios in moscow this is our national john thomas certainly good to have you with us get right to our top story this hour russia has been banned from the two thousand and eighteen winter olympic games however individual athletes will be allowed to compete under

a neutral flag they will participate under the name olympic.