so much food over supplies have been created pushing down prices which is good for families on a budget but it's hitting about half the states in the country pretty hard we'll plow into the issue with an answer experts and now let's check out some of the stories topping that has what. looks like a manager former manager oliver schmidt has pled guilty for misleading us regulators and violating clean air laws in two thousand and fifteen the u.s. e.p.a. accused volkswagen of cheating on their mission to test the environmental protection agency found that there were discrepancies in various car models like the jetta beetle golf and even the audi a three as the investigation continued it was discovered that the company and use really highly sophisticated software that was installed in over eleven million diesel cars to actually trick the emissions test the scandal was so bad that volkswagen c.e.o. martin winterkorn had to resign volkswagen spent more than eleven billion dollars to buy back vehicles paid one point five billion dollars to the u.s.

government for the civil lawsuit and paid more than two point eight billion dollars for a criminal penalty schmidt is facing a seven year prison sentence and will have to pay up to four hundred thousand dollars personally. bitcoin has reached yet another record as we've talked about it was just twelve thousand a little bit earlier but now up to thirteen thousand dollars per coin that's pretty crazy and why it's going on we really don't know there's many folks out there suggesting it could be a variety of different things but what has caused this massive price spike you know experts are really confused on it could be a strong asia bidding i've talked about this thing called a digital lake of liquidity meaning it would be boosted by the i c o's out there others have talked about perhaps it's the other exchanges now that are offering futures prices like the chicago mercantile exchange group nasdaq and even the

board options exchange but certainly things are going gangbusters per per bit coin we'll see how that goes and we'll talk about it very soon. but first the walt disney company is in talks to buy parts of twenty first century fox however fox is also in talks with comcast twenty first century fox is run by the murdoch family as most of us know if the deal goes through with does the it could possibly split up the family but reel in billions of dollars and if the deal with comcast goes through the department of trust the tarp department of justice their entire trust division could stop it here's our chief correspondent ashley banks with more actually if the deal is a reach it will be the latest in major mergers and could be worth more than sixty billion dollars it would reshape the media landscape giants like at disney and

comcast are trying to compete against new players like not flex and fox is under pressure to shrink and focus on specific businesses under this deal does the would buy big parts of boxes in pyar including its movie and television studios and to national assets like the star cable and media company and end up a stake in the british broadcaster sky and a big stake in the hulu streaming service as a result of the deal between walt disney and twenty first century fox the murdoch family could potentially split with the james murdoch leaving his father and brother to work for disney according to reports a murdoch who is currently fox's chief executive could possibly take a senior executive role at disney he'd be overseeing the sky and star companies although he would possibly be leaving fox several highly profitable operations would be left under twenty first century fox and colluding the fox news channel and

the at as one sports channel which would be overseen by rupert murdoch and his other son both executive chairman of the company this deal would agree. greatly benefit disney by giving the company more sources of content on a time when it's rolling out its own sky and star companies would also help give disney and international broadcasting presence however this deal could face some trouble experts say shareholders who have consistently criticized the murdoch's over corporate governance may not support the mirch these talks come amid a series of sexual harassment charges at fox these allegations have even triggered the competition and markets authority and the u.k. to follow an official in korea and a plan to buy the rest of sky these talks are happening as eighteen t. is in the midst of an eighty five billion dollar takeover of time warner however this merger may not have it serving video service to challenge companies like

netflix and amazon the u.s. justice department has sued to block the deal last month of the department's argument is the deal would substantially lessen competition resulting in a higher prices and less innovation for millions of americans the deal is now heading to court to eighty believes the justice department stepped in due to president donald trump's comments of time warner c.n.n. generating fake news now in two thousand and nine comcast was heavily criticized by u.s. officials during that successful bid for n.b.c. universal according to reports regulators are concerned about media mergers i can buy and content films and television what the livery cable and satellite. thank you actually really interesting now tell us a little bit more because. you know they're also in fox is also in discussion with comcast right that's right yes fox is in discussions with con cast but

a fox strike this deal with that disney then it might pose fewer risks than it would if it were to do with comcast now according to experts a deal with comcast could be it could bring about similarities to the eighteen t. and time warner merger where the justice department is trying to block that from happening and experts are saying that could be the same case when it comes to comcast and fox now although fox of course is negotiating with comcast experts are saying that we could get an announcement as early as next week that disney and box have merged time warner and talks a fox and disney they're coming out of time where the pressure is on for cable for cable subscriptions and competition for assets so this is potentially something we may continue to see over the over the next few years what's to keep an eye on it and i'm particularly interested you know when the president makes

a comment that maybe the civil servants and the agencies don't necessarily have planned on working on how that impacts will see the end i trust division at d.o.j. whether or not they're impacted by president trump's tweets archies actually banks thank you so much. record record livestock production the united states is making food more affordable for all of us but what is the impact on agriculturally dependent states and is there a way for us to use our vast resources more efficiently maybe effectively maybe even on foreign policy we'll get some of the facts that will harvest from the author of bet the farm how food stop being food fred cost. joins us from new york fred thank you for being with us the department of agriculture released a recent report which documents that the cost of food for families is about seventy one hundred dollars per year that's only up just

a little bit over last year and that has really impacted iowa and south dakota where in the second quarter of the year the g.d.p. the gross domestic product which actually negative but as important there are twenty three other states so you combine that solve all of those that's half the states and the nations are being impacted negatively by these food prices because of the commodities that they grow obviously and many people don't realize how many states of the unions have a role in producing this food that makes us really the most plentiful nation in the world with regard to food at the lowest cost but what does that mean for these rural communities fred. well it's a it's a real hit part because one of the things is that we're looking at that that grocery bill and we're looking at bread xin crackers for instance which are coming from the grain from those from those states really when you're buying a ritz cracker most of that cost in the grocery stores for the packaging is for all

sorts of other subsidiary costs of the grain itself grain is tanking in a much more drastic way and this is going to spell tree auction really there's got to be some intervention here right and you know it's tanking you're absolutely correct and you know this stuff cold but we did see this huge spike back you know two thousand and ten eleven where all commodities were were on a tear and one of the things you know people don't actually understand that these cost of production are actually tied to the commodity be it corn wheat beings or we're a live live cattle so we produce all those food fred but how much of the prices actually get back to rural communities at the same time the question just real quick at the same time fred we've got hunger and malnutrition all around the world how do we deal with this problem. we've got eight hundred fifteen million people around the world who are hungry we have all this excess wheat in this country so

much access that the price is going down in terms of the spike you have to realize that even during those years one of the reasons for that spike was the unbelievable influx of wall street money which is just been sucked out of the commodity sector because of this overheated stock market so this is actually a really old problem this is not something new since the beginning of civilization farmers have come to market all the same time with an oversupply of their grains and the prices have tanked and there's a really old and simple solution to this from mesopotamia to egypt to ancient china up until the present day this is the moment for government intervention either to go in there and set price floors to buy the grain and put it in a grain reserve and what will happen is you will stabilize that price you will bring it up food is too important to be messing around and driving farmers out of

business now some might ask well what does the government need to do with their grain in fact every country on earth except the united states has a national grain reserve to guarantee food sovereignty why doesn't the united states have this it's absolutely absurd so once we have that grain what can we do with it well there are a number of things we can do with it either put it in that grain reserve or do the traditional thing we've done with foreign relations and use a plow shares in swords diplomacy and start getting that food out to the world where it's needed most which also happens to be places where we need to get some political clout places where terrorism is big is breeding in eastern africa and places like that where the united states can really come in and do the fav year. fantastica but do you do you think this is ministrations able to comprehend and get on that task fred that foreign policy component of commodities this administration is. particularly unable to understand any of these subtleties they've been events

aerating the diplomatic corps they have no sense of the of the pushes and pulls of how foreign diplomacy works and they also don't understand foreign trade i mean they're putting up all these tariffs and barriers and what's that what's that doing it's making the e.u. and france in particular putting up their own tariffs and barriers to protect their own farmers so they're not put in the position of well really the farmers let's say in a country like india who are losing so much money that farmer suicides are are very common people are drinking the pesticides which were meant for their crops it's a global shame fred thank you so much you know i've heard there's a vacancy through the state department middle try to smuggle you in fred kaufman offer of bet the farm how food stop being food our gratitude for your time. time now for a quick break but stick around because when we return peter schiff the c.e.o. of euro pacific capital joins us to talk about that rise and bitcoin which is

surpassed over thirteen thousand dollars today as we go to break here are the numbers at the closing bell. it's all to see we have a great see what we need to strengthen before the freefall. and your bets have been alleged to keep it so it's at the back. in one thousand nine hundred two that must qualify for the european championships at the very last moment no one believed in us but we won and i'm hoping to bring some of that waiting spirit to the. reason the had a lot of practice so i can guarantee you that peter schmeichel will be on the best

fall since my last will call him that. thousand the old joke. i strike. left left left more or less ok stop that's really. the coalition that it has been it has been basically destroying yemen killing many civilians and now it's a common. international time. the saudis not refrain from even coming babies. need. indiscriminate bombardment of civilian areas in yemen for the past thirty months.

the european commission is looking to propose deeper euro zone entered cation on wednesday the commission is hoping that the plan would unite the broader european union than just through a single currency area this decision comes just a little under two years before britain is set to leave the block and twenty nineteen the decision is part concern as eight and nine year old countries fear that it will relegate them to second class members of the u.

while the commission hopes to allay fears that some of the ideas clashing with some of the eurozone what with what some of the euro leader want one of them of the eurozone leaders what some what eurozone finance minister types like french president mccrone who had the job before rather than having a single pan-european minister instead who would oversee both finance and the economy the idea will be discussed in depth on december fifteenth when e.u. leaders gather for a euro summit and now let's get back to bit coin and bring in one of the experts on the subject peter schiff the c.e.o. of euro pacific capital peter thanks for joining us i assume you're the one guy who knows exactly why we've just busted thirteen thousand and you explain this all all to us go right ahead. i don't know if people is consider me an expert in crypto currencies in fact a lot of people think i know nothing about them and they claim that's why i don't

believe in their ultimate potential i do believe that what we are witnessing is a gigantic speculative bubble why is the price going up people are buying right i mean that's was always going to drive the price up and you have a lot more people buying now and i think it's kind of across the board you have a lot of individual interest you have taxicab drivers who are putting small amounts of money into crypto currencies and then you have some institutional investors who are investing now substantial sums. i think they still represent a relatively small percentage of the overall institutional investors but they're they're they're they're in a bigger way than they were a year or two ago when the prices were much lower peter do we do you have a data or is there data available out there that that tells you the amount of money that's going in from the institutional for example as opposed to just average folks who want to get in on the act i don't know i mean i've read that now coin base

has more accounts than charles schwab so you do have a lot of individuals moving money and i think it's a lot of small quantities of money but it adds up but of course the increase in the market cap of these crypto currencies is much bigger than the amount of money actually going into the space because it doesn't take that much money to move the market as long as the people that own the currencies don't want to sell just a small amount of money can create an enormous amount of paper gains as far as what the market cap is and and that's what's happening do we have any sense of what the i mean you cite the coin base numbers but do we have any sense of what the actual liquidity is on an exchange like client base which is the largest digital trading platform and we do we know how many people are in there. well i don't know the exact numbers i mean but there's there's certainly liquidity but to the extent i

think of it if there was a significant amount of selling i don't know how much liquidity there would be i mean sometimes you see the currency swing i mean bitcoin just like a week ago when it initially made a new high above ten thousand within a twenty four hour period it dropped twenty percent so that shows you that there's not that much liquidity there to the extent that if some big sell orders come in it's going to drop the market and so far every time that's happened we've had some survivors coming in to lift the market back up but it's some point that's not going to happen you know alan greenspan was on television today you know comparing bitcoin to the continental which was the currency that was used around the time of the revolutionary war it eventually collapsed and it gave way to the expression not worth a continental but you know i think the comparison is probably unfair because the continental only lost ninety percent of its value they were redeemed ten cents on the dollar i think that eventually people buying bitcoin are going to lose more

than that even if they make money on paper first i think that the currency is the currency is going to go down more than ninety percent that eventually the phrase not worth the bitcoin is going to be part of the american lexicon so what happens i mean you have investors who want to get in into this and i assume you are doing their bidding for for them to do so right. well i mean look i had a client today that wanted to take half as a half as ira and put it into an ira with crypto currencies i didn't think it was a good idea especially with that amount of money in your retirement account but i'm getting most of my clients is just a small fraction although who knows them and i could have clients that are on their own just putting money into the cryptocurrency and i've been talking about it for a long time but you know i don't encourage people to buy it because i'm not going to encourage people to gamble and i let people know that i think eventually the price is going to crash but it could go up a lot more first i have no idea i mean the price could double triple quadruple i

don't know but i do believe that whenever it stops rising it's going to implode but i don't know exactly when that's going to happen and so i think anybody who's involved in that space is taking a lot of risk and the question is are they going to get out before the music stops some people well most people won't so it's not something that i encourage people to do even though i recognize the fact that on paper people are are making money in this space and obviously some people are cashing out and are actually making money in real real money they're not it's just not on paper are to make sure i'm clear are you doing are you investing for them or is this they do that part on their own . well they would they would do it on their own i mean i don't have any way of buying somebody bitcoin in their account with me so they have to pull the money out although i am involved with a company called gold money and gold money and abel's customers to buy crypto currencies and they stored for them so to the extent that i am

a shareholder in gold money that company is facilitating transactions of bitcoin but my broker dealer my asset management company were not involved in it at all i know a little bit about gold money and one of the nice things about them is i'm not sure you can use it all over in the states but i know you can use it in canada or in canada i believe and. at least in britain maybe in the u.s. they actually give you a credit card or in the air in the u.s. in fact they're licensed in all fifty states. and their main business is using gold digitally right gold as money as a medium of exchange as a store of value but they're also opens up their platform to people who want to speculate in in crypto currencies i mean personally i think that people are making a mistake because i think the prices eventually going to go down but look you know there's a lot of action it's like a casino and people are making a lot of money at this casino and so people want you know people want to get on it

when i when i you know when i first started talking about bitcoin which was the only one back to back then two thousand and eleven two thousand and twelve and i had folks ask me if they should invest and i said boy i'd be careful lot of those people are a little pissed off at me now quite frankly because they think they could be retired and i imagine you get a little bit of that i'm curious peter whether or not you think you know c.m.e. group offering a futures contract called the board options exchange offering when i think starting one on monday or twelve or one son sunday night and then even nasdaq saying that they're going to get in the act next year with the futures contract do you think that's also helping to push the price and will that part. question one is it helping to propel the price and two will this bring in some sort of regulatory transparency we talked about you can't know the liquidity you don't have the transparency will that be a good thing that will ultimately keep this going this little bit coin run or big bitcoin run for the forseeable future. well the first part of your question is

probably likely that the launching of these futures exchanges and is part of what's driving the buying frenzy although we don't know i mean maybe the price would be this high even if the futures contract wasn't imminent so we don't know that but i can certainly see that as being a catalyst to generate more interest people thinking oh yeah once this thing is opened up the futures market that's going to be even more buying and so people want to front run that but you know it could end up being a buy the rumor sell the fact we'll find out and of course we'll see how many people want to buy bitcoin futures versus how many people want to sell them you know up until now it's been very difficult to short bitcoin one store futures contracts will be much easier to short because i think it's very ironic that one of the reasons a lot of the people that were talking to me about bitcoin a few years ago and one of the things that they said was or reason that they wanted it and they wanted to buy it over gold was that you know gold was subject to

manipulation because they had futures contracts and so they like the coin specifically because there was the futures contract well now it's going to have one and so therefore is subject to the same manipulation as gold and potentially more because the bitcoin futures contract is going to settle in cash whereas the gold contract settles in actual gold now as far as your second question i do think that if we get more regulation ultimately that is a bad thing for bitcoin because part of the appeal is the lack of regulation the fact that governments aren't involved but of course we've already moved way beyond the original appeal i mean the whole idea that bitcoin is going to be a digital currency is pretty much been abandoned i mean everybody now concedes that it's too expensive and too slow to actually use it in commerce and of course much too volatile now they're trying to say well it's digital gold people are just going to buy it as a store of value and so we've kind of moved into that stage and so i think a lot of people were buying it now i couldn't care less why the people were buying

it originally they just legislate it out of the area you know people. peter schiff i want to get halfway up i mean so i sorry so much got it got to split but i want to get to gold next time peter peter schiff thank you for joining us yeah as we head towards christmas one hot item is no longer available shoppers the so-called peace diamond from sierra leone has sold at auction in new york for six point five million dollars the government which own the diamond had previously jack rejected a seven point eight million bid for the seven hundred nine uncut rock seven hundred nine care uncut rock the largest ever found in sierra leone and the fourteenth largest in the world they thought they could do better but analysts say that the high end of the diamond market has already passed and so now they're a little disappointed at that sales price compared to what they could have received anyway the villagers in the region where the diamond was actually found donated it to the government rather than selling it to smugglers or others and they've earned

a public thanks from the president and now the auction management firm rapoport group says that half of the sales price will go into a fund for infrastructure including schools roads clinics and electricity and a quarter walsall go into to the group of diggers who actually found the rock and the remainder to a program called the diamond area community development fund that's a really good news for the people in sierra leone thanks for watching be sure to catch boom bust that at on you tube at youtube dot com slash boom bust r t c n x time. on the fence on this is not is not a quick place it's not so good to attend trade and. this is a show doesn't this give us some as well on the. basis that this

is so this is bull. just that the culture. of the cult of the charade of the secular suggests pulling in customer embrace from the moment of oneself in between it and. a full scale of this fossil. play almost anything from the numbers for the best the last record our better john said on based on our much less can i do not cover mr right is from fact make matter how not he came. from a shallow time in cannot. change from i can now move he was almost you are now with the fuckin on a kook gets to the supreme of foreign affairs bush i did go to sleep i don't want to go to the cities in the my car. voices in his or the one of the street. facing some of our government allows this. to see others who are supposed.

to see solutions. whenever you believe the russian product you are not just getting into the quality . of the little bit of russian soldiers who are.

israeli forces respond with water cannon and tear gas to mass protests in the west bank following president trump's move to recognize jerusalem as the capital of israel. landmark in the fight against islamic states the russian military says the terror group has been routed from syria. and british soldiers could face trial of the international criminal court its chief prosecutor says there's reason to believe the war crimes were committed against captives in iraq.