issue as a jury acquitted of murder and as a jury acquitted of murder and manslaughter charges last thursday human rights activist randy short believes the officers claims that he felt threatened don't quite hold up first and foremost that officer was with the group of other people with guns there was no way that that man even if he had a weapon was going to be able to overcome that many people with body armor with high powered are automatic weaponry it is a friend a c a a a sick joke that the officer claimed to fear for his life it was excessive florists it was an execution and i believe that many are suitors are psychologically unstable they're dangerous people and essentially they have a license to kill. randa top stories of the day don't forget to check us out on social media on our website often don't come at the top of the hour with the

headlines so don't go away. so there's no little abortive as a person but he is a boredom those far as business evening would. risk in the regime falling apart so america's are americans so much less to have him leave the old oh from time to time they keep saying it again so i think most countries are accepting that the will study.

this is bill's was broadcasting around the world from washington d.c. i'm barred children's village and then beyond that the street coming up a conference committee is working out the differences between the house and senate tax bills and rumors have been running rampant about some key elements that could impact individuals and businesses will ask steve malzberg for the latest intel on the net if you go she asians plus gold dropped to a nearly five month low on friday and some say it could stay down for some time we'll ask peter schiff for his take on silver and gold now let's get today's top business and financial him. following an exciting couple of weeks bitcoin futures launched on the chicago board options exchange on sunday the price at the futures contracts which will expire in january we're trading eleven percent higher at seventeen thousand. hundred thirty dollars this allows investors to bet on the future price of the crypto currency and track it on gemini the digital currency

exchange founded by the winklevoss twins in just another week the chicago mercantile exchange will begin trading its own futures to the it will use several bit coin prices on a few different exchanges and over in france finance minister bruno lemaire announced they'll begin trading unlisted securities using block chain technology changes will come into effect in july and will only apply to unlisted securities that aren't required to be traded by a broker lemaire said the use of this new technology will allow fin tech firms and other financial actors to develop new ways of trading securities that are faster cheaper more transparent and safer while bitcoin and the block doing well in the u.s. and france it's a different story in some other countries like belgariad back in may a bulgarian authorities arrested dozens of people accused of a legit customs fraud following an investigation by the southeast european law enforcement center after the raid officers confiscated five hundred million dollars

in between which is now worth three point three billion dollars at the moment that could pay off eighteen percent of the country's national debt. the department of justice has ended its deferred prosecution agreement with h.s.b.c. the move came five years after the bank paid a one point nine billion dollar fine for failing to stop mexican drug cartels from laundering millions of dollars stuart levy chief legal officer at h.s.b.c. said while we still have improvements to make and work to do this shows the d.p.a. has worked in the way intended which was to lead to a transformation in the way h.s.b.c. manages financial crime risk back in two thousand and twelve u.s. prosecutors said mexican authorities told the c.e.o. of the bank's mexico unit that a local drug kingpin said his b.c. was the quote place. to launder money the u.k.'s biggest bank was also in trouble for breaching international sanctions by doing business with iran and still faces

a couple of other dilemmas h.s.b.c. could end up paying a one billion dollars fine for its role in selling toxic mortgages in the u.s. before the financial crisis and it's currently being investigated in the u.k. for you guessed it links to money laundering by south africa's a family. and volkswagen is one of the world's biggest auto makers and is partly responsible for the popularity of diesel vehicles especially in europe that explains why heads were turning after the company's chief executive said on sunday that the german government should stop offering subsidies for diesel drivers in an interview with a german newspaper mathias mueller said we should question the logic and purpose of diesel subsidies and money can be invested more sensibly to promote more environmentally friendly technologies are also told the paper he's in favor of banning older diesels from city centers this comes over two years after a massive emissions scandal which was also known as diesel gate and ever since

these oil sales have not been the same. teachers students and schools across the united states are speaking out against the g.o.p. tax plan after moody's downgraded its rating for higher education artie's david miller has the latest on the ratings and how students will adjust to higher costs and less deductions you have for public universities across the united states are facing financial uncertainty and this comes after moody's downgraded its financial outlook for higher education to a negative rating from a stable row rating their credit rating agency predicted that the growth of the industry's expenses will outpace revenue growth for the next twelve to eighteen months public universities in particular will face numerous money woes because to federal financial aid programs or even funding growth it fails to keep up with inflation. and exaggerate higher educations problems moody said increase of two wish in revenue research funding and state contributions will remain subdued the

agency says expect that the sector's expenses will rise by four percent but less than twenty percent of public four year institutions will see the revenue increase by more than three percent and more than half of private institutions will achieve growth of at least three percent and the g.o.p.'s tax bills could hurt college as private fund raising increase borrowing calls for private activity the bonds and depressed graduate student enrollment also at play are the federal immigration policies which could decrease international student enrollment and both the house of representatives and the senate have passed legislation in recent weeks that would overhaul the u.s. tax code the bills have been harshly criticized by higher education leaders g.o.p. plan would also prevent americans from deducting from taxable income the interest paid on student loans the benefit saves borrowers two hundred two dollars a year on average this is according to an american enterprise institute analysis of

federal data and changes in financial aid programs and tax reform could work to further negatively impact in rome and to wish and revenue growth donations and the cost of borrowing the g.o.p. plan would also repeal a provision tax payers to deduct up to four thousand dollars a year intuition and living expenses and this is if they earn less than sixty five thousand dollars a year in adjusted gross income and critics of the bills that hardworking students would suffer as a result of that many of the provisions and with the downgrade and ratings from movies the question is how will the united states continue to compete in terms of education and advancement and the global economy reporting for boom bust david miller r t america. thank you david you know i'm just looking at this this story which is is amazing because part of this is going to deal with this trillion dollar windfall that the super rich will get under the president's trumps tax cut and we

saw in the wake of two thousand and eight for six six years after that that there were about three hundred thousand education jobs that went awry but the article i'm reading right now shows that under the house bill it will cost two hundred fifty billion dollars which equals to two hundred fifty thousand education jobs that could be cut under the senate bill this is the reason that it's going to cost so much in the tax bills because they are doing away with that acronym we've all heard called salt the state and local tax deduction in the senate bill it will cost it will it will cut education funding because since you can't take the deduction in state local taxes the state local folk get the money for taxes and then there'll be three hundred seventy thousand education jobs cuts so we're going to have to keep watching that as we go forward yeah and meanwhile average cost of tuition is thirty

four thousand dollars a year. if a tax reform bill is going to become law before christmas a conference committee needs to resolve the differences between the house and senate bills and both chambers need to pass it and with only two weeks left to go the final countdown is on speculation and rumors abound what's going to result we have steve malzberg with us who the conservative t.v. and radio host steve welcome thank you for being here with us my pleasure and my son is looking at colleges so thirty five thousand is a bargain from what i've seen and it's thirty five thousand as a bargain for that's the private schools you know the public schools are a little bit less and then if you're an in-state resident it's i think it's around ten grand or earth something but really it's more than it is a jersey it's a lot more than that for a guy that well maybe it should be i don't know you got all those good schools there princeton and all the other ones steve thanks again you know there is

a report out in the wall street journal about the marginal tax rate could end up being higher more than most folks had thought even one hundred percent tax at one point this seems like it's just you know a mess up in in the legislative language and having worked in the house and senate for a long time i know that that can happen but it certainly embarrassing and what's your take on this thing well that it's that's a travesty i mean high income businesses could suffer here and it's really i think it's a lot of it has to do with the republicans just desire an obsession with showing that they're punishing the rich in some way shape or form but the bottom line is it takes away incentive if your marginal tax rate is over one hundred percent as we're talking about here it takes away incentive to do extra work and make extra money i mean if the next hundred dollars that you're going to make is going to be taxed and you could have to pay a hundred ten dollars on it why would you do it and this goes against every core

conservative republican principle out there. that you what to incentivize work not take. it away so you know look i mean i'll pile on when i think they deserve it so the republicans don't like it and they're the ones that passed the bill but in fairness you know these things do happen we saw when this bill was being passed there were the the handwritten notes and things that were practically illegible people don't expect that's how the sausage is made in washington but unfortunately you know truth buster here that's how some of it happens now steve we've talked before about this razor three thin margin in the senate particularly not so much the house but on friday maine republican senator susan collins said she might vote no on the conference bill on the tax tax reform if senate majority leader mitch mcconnell doesn't ensure that things he promised are in the vehicle and one of those things are the things we've talked about before or at least if they don't get

rid of them to mitigate them and that's repealing the individual mandate from obamacare the affordable care act and you know how do you think republicans are going to deal with that because you know you have one you have this side on and the house the freedom caucus and others who they really want to get rid of this they hate them some obamacare and then you have people like susan collins who really need to to pass this thing in the senate what's your take and or entails leave well this senate bill obviously did have the repeal of the individual mandate which i think is what they're the bill eventual will will contain susan collins voted for that bill because she received promises so she says from mitch mcconnell that her concerns would be addressed for example the alexander marri bill which would restore these subsidies to people who who are low income and pay health care premiums those were taken away by donald trump from a such as that that that would be addressed in the budget or in

a separate vote so i think that mcconnell will keep his word however you have freedom caucus as you alluded to freedom caucus members. in the house saying wait a minute we're not the hold in to any deal of promise that mitch mcconnell made to susan collins and others that we didn't know about so it's going to get very interesting but again this is all you know you know better than i because you've been there this is all the game that's played and i think when push comes to shove they're just too close not to work something out as we enter this final countdown you remember that song don't you from back in the day the final countdown what band and i remember to even more thanks to you today yes your europe with the band as we enter this final countdown steve we want to have you back to talk a little bit more about this where are we going to end up on the corporate rate is it going to be twenty two it's going to be twenty percent but we'll have more to say about that in the coming thank you for being with us appreciate your time my pleasure. time now for

a quick break but stick around because when we return gold dropped nearly a five month low on friday and some say it could stay down for some time peter schiff for his take on silver and gold and as we go to break you're the numbers at the closing bell. i've. little. requires a messaging app for a store of value and a medium of exchange that as a messaging this is the history of economics the history of money the history of trade the history of the evolution of the d.n.a. and ourselves of our bodies suggest that bitcoin will be a lot higher because we as a species want to connect and it's monetization of our unconscious is the monetization of our collective unconscious.

donald trump is making history again this time in the middle east russia has been from the two thousand and eighteen winter olympics is this politics on steroids and do new continental saakashvili have no shame. around this time of year many of us think of the old our lives are in gold from the rudolph the red nosed reindeer special the silver and gold investors are looking at the precious metals all year long for gold the price tumbled on friday to near five month low here risk us peter schiff the c.e.o. of your pacific capital peter thanks for hanging with us i know you're waiting

there for a while we appreciate it for gold that thirteen hundred dollars price range was was there for a long time we kept seeing it for many months but now after friday when the price declined to twelve fifty one per ounce it's lowest since july and many are questioning whether any upward momentum is in sight you know gold well what's your take. well you know the last few years you've seen gold sell off at the end of the year and then rally pretty strong in the new year because what happens is towards the end of the year people get very optimistic about the future oh things are going to get better growth is going to pick up the economy is going to take off and so they get optimistic they buy stocks they buy the dollar a little bit they sell their gold and then the new year comes around and the hoped for rebound doesn't materialize and then they buy the gold back and the dollar sells off and and that's i think where we are i think there's a lot of myths misplaced optimism out there surrounding the tax cuts you know the

fed supposed to raise rates on wednesday they probably will so that rate hike has been supportive of the dollar and has been hurting gold but once that rate hike is in the rearview mirror i think gold will react the same way it has to the prior rate hike i think it's going to go up and i think the dollar is going to have a very bad year next year i think this is the first year the dollar's been down in quite some time but i think it's the beginning of the next major leg down in what has been a long term dollar bear market ok you piqued my interest with several things there so first of all about the holiday time the end of the year when people are optimistic you're saying peter is part of that do we see part of the price of gold seen in the purchase of jewelry or is that just a minor part. i think that's a minor part of it you know last year it was the optimism over truck right trumpet just got elected and everybody thought oh this is going to be great he's going to make america great again we're going to get rid of you know we're going to shrink

government we're going to cut regulations we're going to lower taxes and so early in the year it turned out that that wasn't the case and you know now all the sudden we're getting excited again because we're talking about tax cuts but we're not talking about shrinking government and as long as government gets more expensive we have to pay for it and if we're not going to pay for it with taxes we're going to pay for it through debt and inflation and that is what we're going to do and that's going to be a more expensive way to pay for government than the taxes ok now just just for our viewers who aren't following this like you do peter what you give us the fifty two weeks on the highs and lows for gold the last year or the least the range well i go yeah well gold did get up around thirteen hundred i think it actually broke through it a little bit but then it pulled back but you know it did get lower it got down i think even around twelve hundred earlier of the year and that's kind of been the range but you know i think that we bought about a member gold bottomed out at a thousand and fifty in december of two thousand and fifteen when the fed first

raised interest rates and everybody thought gold was going to tank when the fed started to raise rates and the first rate hike mark the bottom of gold and since then i think we've been building a base but eventually we're going to take off we're going to take out the high from two thousand and eleven which i think was around one thousand nine hundred dollars so once we really get through thirteen fifteen fourteen hundred i think well you know what house and clear sailing for much higher prices do you think that with with the sort of a comment of monetary policy and you're talking about the the open markets committee the federal reserve's committee that meets on tomorrow on tuesday and wednesday and and everybody is suggesting that they will go ahead and raise rates on wednesday do you think that's already been baked into markets and also the price of gold or you think investors are still going to take some action a wednesday after the announcement and the rest of the week. well i think what's been priced in is the fact that so many people believe that all this loose money

can be withdrawn that the fed could reverse the policy or other central banks that they can normalize interest rates that they can shrink their balance sheets none of this is possible that's what the markets don't get the cheap money of the past is going to be even cheaper money in the future the fed is going to have to abort the tightening they're going to have to go back to zero in the next recession which could happen a lot sooner than people think they might even go negative they're going to have to launch q.e. for it's going to have to be bigger than one two and three can buy when the when the markets figure this out then it's a whole different game and then you know then you're going to start to see much bigger moves up in the price of gold and in other commodities as well and that's when you're going to start to see real downward pressure on bond prices when people realize how the central banks have lost control of this and that they have no ability to reverse course and i assume that that statement about sort of the loose monetary policy isn't just about the fed i mean it's the european central bank and

the bank of england i mean it's seems like most of the central banks around the world have a fairly common of monetary policy right now and that feeds into what you're saying correct. yeah everybody does but ultimately i think the fed is going to be the easiest and that's what's going to catch the markets by surprise we've got the most deaths and you know we can't sustain them ourselves we have a huge trade deficit in addition to our budget deficits we have no real domestic pool of savings we rely on the savings generated in in asia and other parts of the world so we have to borrow money from the rest of the world to buy the products that the rest of the world produces so we have these twin deficits and i think america more than any other country is completely addicted to this cheap body so while other countries may be able to raise rates we're stuck we're going to have to keep the lower longer than anybody else. when you said that about debt i read

something earlier today and i can't source it but i really read it it said the tax bill would equal eight thousand dollars of debt per household and it's so ironic because pro-traditional you know the republicans and for all my life has been such a deficit hawks and this is adding to the deficit do you think that's going to have just if we run up the deficit that that's really going to have a longer term impact on precious metals peter. well deferent the republicans are only deficit hawks when they're out of power whenever they are in power right then they don't care about the deficit see the republican version of a free lunch is tax cuts for everybody but they don't want to cut any government spending so they only oppose government spending when it's the democrats who are doing the spending but once they're in power they just want to spend as much as the democrats so it's all a bunch of politics it's a theater but yes it is all going to benefit precious metals because when the government decides to pay for its spending by printing money and borrowing money

rather than taking it from us in an more on this matter like taxes so when the republicans cut our taxes but they don't shrink the size of government when government gets more expensive and they reduce the revenue to pay for it then where do they get the money we don't get all the government for nothing so they have to create the money they have to print money the federal reserve us to print money to buy the additional bonds that the treasury has to sell to replace the tax revenue they lost and that diminishes devalue the dollar that causes prices to rise so the way the government gets our purchasing power is through inflation so in stead of taking our money away from us they leave us the money but they take the value away from the money and higher inflation is bullish for gold. you explain that very well thank you for that i know as our viewers appreciate it now i can't let you go without getting into silver silver also dropped just about fifty cents on friday at at comix the commodity exchange in new york to fifteen dollars and forty seven

cents what's the latest on silver and where we've been on that what's the sort of been the year over year range on that to peter. well you know it's the same thing is gold it's got the same end of the year problem you have all this optimism the dow is hitting new highs people are excited about it and so you know you've got a little bit of a profit taking you know they used to refer to silver as the poor man's gold but now they've got something i guess even cheaper the cryptocurrency you've got a lot of people and i got a phone call today from a delivery truck driver who called me up saying he wanted to buy some point i don't even know how he got my number but he thought he just was looking he was just from jamaica and he just wants to buy bitcoin i told lookout i'm out of bitcoin sales that were broken for and i told them what to do but so instead of looking to buy silver you got people by and some crypto currencies and just spinning the wheel in that casino. and i you know look i do get concerned you know i'm not a money adviser or anything but i heard people talk about you know mortgaging their

house to invest in bitcoin or taking out of their ira and boy i sure wouldn't do i wouldn't do that i am reminded peter that i look ahead ahead go. yeah obviously to say look you know this is probably the biggest bubble i think of the money very cheap and so they've inflated and not normal about a bubbles i mean this is not a coincidence that we have all this cheap money and we have all these bubbles but you know big point keeps going up i mean seventeen thousand today and look how big can the bubble get i don't know i mean i'm not that smart i am smart enough to know what is a bubble but i'm not smart enough to know where the peak is but there's an old saying right bulls make money bears make money and pigs get slaughtered and there are a lot of bitcoin pigs i believe who are going to give slaughtered so if you happen to own some big coin and you bought and then you have some profits sell the might say you have to sell everything you don't have to take it all off the table you know you can play with some of the houses money but you know take some money bought

by some goal right by take some of your windfall and put it into something real because when the bubble stops and all the paper profits vanish you want something more than memories to show for you want to you don't you just want to talk about what you could have done what you should have done and what you would have done take some of those prepaid for profits turn some of it into gold maybe buy something with it by yourself you know something that you could enjoy don't just don't let the house take it all away because that's what's going to happen i think to a lot of people they get emotionally involved in this bubble they think trees are good wrote of the sky and they're not think this is no different than any other bubble except maybe it's more irrational than most think thank you peter got it got a boat here but thank you for that good investment advice i think you know a lot peter schiff c.e.o. of your pacific capital you have a great day take care thank you. over the weekend ron tell man was shocked to find that he had been charged eighteen

thousand five hundred eighteen dollars for a five mile ride on hoover x. after posting a screen cap of the bill to instagram quickly went viral some speculated the. bill was caused by surge pricing in july charged a milwaukee couple eight hundred ninety eight dollars more than eight times the normal price for a ride home from a music festival but worth says there was no surge pricing and it's still working to understand exactly what happened most importantly the writer got his eighteen thousand dollars back so remember it's always a good idea to actually check their receipts but that's all for now but be sure to catch boom bust on you tube at youtube dot com slash boom bust party thanks for watching. what holds and you should. put themselves on the line. to get accepted or rejected

. so when you want to be present ensure. you somehow want to reach. out to the right person that's what the three of the more people. i'm interested always in the waters. there should. be. the sooner you get. over that it was a question of it. losing a. human. years because you remember. this this is.

the terror suspect is arrested in new york after an explosion a rocks a central bus station injuring three people. his turkey tearing his middle east to one announces the withdrawal of russian troops from syria. and the israeli prime minister is in europe seeking support for donald trump's recognition of jerusalem as israel's capital but the e.u. foreign policy chief makes it clear brussels will not follow suit. for the latest on these stories head to dot com coming up a former dutch special envoy to syria is the guest on sophie talking about the long running civil war and the for islamic state.