remember thinking when i was younger that if anything ever happened to the coal mines here in that it would become a ghost town but i never thought in a million years i would see that and it's happened it's happened. we're bit coy my ammi here area here again better because one nine hundred talk to brock there said this was their year twenty seventeen to go to all kinds of crazy eyes and yeah it sure did now experiencing a bit of a fall back. i played for many clubs over the years so i know the game inside guides. football isn't only about what happens on the pitch for the final school it's about the passion from the fans it's the age of the super money just kill you narrowness and spending two hundred twenty million and one player. it's an experience like nothing

else on the because i want to share what i think of what i know about the beautiful guy great so will transfer. the base it's going to. prescribed medication is widespread on the us market and a frequent cause of death at that point in my life i decided like everything was ash and my family was literally coming unglued i had actually planned. to commit suicide watch all who has made antidepressants so commonly used we were doing what the doctors told us to do we were being responsible and want the real side effects . it was simply alter what i did was done on a cocktail in the illegal drug. just because

something sleazy doesn't sing. welcome back china post again said twenty seventeen as their gross domestic product grew by six point nine percent at face value china's growth in twenty seventeen with a faster record in over two years experts say china saw much stronger exports and the government infrastructure vell investments like the monumental belton road initiative help spur growth towards the end of the year however there is concern by some over the years that china's rising debt is a problem the i.m.f. the international monetary fund reported that the country's debt has ballooned and was two hundred thirty four percent of total output beijing is said that it is taking steps to contain the risky debt despite the economic impact and on those numbers china has long been questioned about the veracity of data they released to

the public military and joins us with more minnillo what do you make of what they've been saying people been saying about these numbers over the years you know bart it's really tough to trust those numbers coming out of china because for years as you and i have talked about these numbers have been largely bogus and china's admitted to it in the past and we know that the reliable. their economic data from various regions are just simply not quantifiable so plain as that but in the big cities where you find luxury hotels coal is king there and that's driving much of the economic data we're seeing today just look at how much mining for metals and coal account for local g.d.p. that is later transmitted to the overall national g.d.p. now the darker regions mining accounts for as much as forty percent of the market in those provinces and specifically the large portion that is inner mongolia officials there admitted to over inflating their twenty six thousand mining numbers to look more favorable you can probably assume then that the same is true for their

twenty fifteen numbers to the g.d.p. reported versus reality shows a steep spike up nearly twenty five percent from the year before that sort of swing is just not realistic but across the country coal remains steady almost kind of flat brant crude and steel looked almost inextricably tied to one another both taking dips in twenty fifteen and twenty sixteen as well both climbing back up in seventeen but now still moving north now an indicator of more building happening in the country and then over the province of the nearing there are a major problem in why we can't trust the economic data coming from china talk about fake news has admitted to faking data for five years now and have yet to issue revised numbers even still so according to the financial times landings local economy has seen dramatic rises and falls telling of a very unstable market but what what they previously reported showed a more gradual decrease those simply were false and over in shame see this is

china's most cold dependent economy it's a suspected that they have flubbed on the numbers too but their reporting has been slightly less dramatic chinese watchdog groups do however believe their local economies saw a measurable recovery from twenty sixteen to. seventeen so bart these volatile market fluctuations in china some some of the most key provinces are likely offset by the big cities like beijing where manufacturing remains strong china still en route to become the world's biggest economy despite these fraudulent numbers believe it or not super reporting thank you r.t. correspondent manilla chen thank you. i'm going to talk digital currencies again and bitcoin and we're joined by geoffrey talker once again we're pleased to have him he's the editorial director for the

american institute for economic research jeffrey thank you for being with us again we sure appreciate it. it's my pleasure thanks for having me ok now the last time we spoke you ended the interview and said that you know you don't want any regulation and you know i get that approach because i don't want to have innovation award it but what do you say those who to those who lost money like in mt gox and and some other things where some of this was significant money four hundred fifty million dollars at the outset what do you say about that i don't think the regulators would have prevented about gox and the great thing about that mt gox experience is the top the crypto community something there will never a big again be anything like that that was back in the early days when there was a lot of centralization and mining and there was pretty much only one exchange in the world then we have a lot more exchanges which by the way we'd have a lot more exchanges if the fence and hadn't into enter into rock to develop into that sector back in april two thousand and thirteen and made him jump through all

these regulatory hurdles and that was that that was a disaster we would have thousands of these exchanges now and now there's just not as many as there could be but we'll never see another mt gox again i believe there's a lot of self-regulation that goes on here and it's awkward with the regulators imposing all their old fashioned rules on this twenty first century technology like no you're costumer rules i mean it's very expensive from a regulatory point point of view too on board and get off get in and out of big coin you know move dollars to pick when to get between back into dollars there's all these hurdles you have to go through even even buying it at a big point a.t.m. in the united states is an arduous process you having to you know hold up all sorts of identification and all these things and you know that is not true around the world i mean i was in tel aviv last month and there was no break elation and

because of all you just take your circles put them in there and you can exchange it for because i think that's where we need to go we need to get away from this idea of control. in the sector and just let it evolve naturally and normal market process we're going to have to get used to in this country a competitive money system it's going to be a little weird for americans because we think the dollar is almighty and the one true currency for. america and that to a lot of people don't feel that way around the world in latin america people trading cons all kinds of currencies all its all the time with exchange rates and that sort of thing we need to think of ourselves in the united states as doing that in the future ok i want i want on why saying i'm going to narrow and everything yeah ok so there's some of that i agree i mean the thing about you know a square peg in a round hole you know use it using old fashioned regulations for a new innovation a digital currency i'm with you one hundred percent but by the same token i am really concerned because i want digital currencies to take off i think they're the

future but at the same time we have seen things and again this is you know history but we saw silk road where you know adam exchange that things were being for those who don't remember that point was being used for illegal drugs and weapons trade money laundering even human trafficking and of course nobody wants that to occur again but unless you figure out some basic sideboards again nothing overzealous jeffrey i'm worried that we'll have a few bad actors who will impact all of the digital currency universe so i don't know what the answer is but i don't think it i don't know i elation from i expected it's not going to say yeah i think methot and look if you don't you can regulate things like arms trafficking drugs drug trafficking all these other things you can regulate that as illicit products a list that illicit services but that doesn't require that you go in and interfere with the development of this awesome new technology i would like to see none

whatsoever i mean it's everything the government has done up to now has been bad for big quiet i'm. then we just give a quick example the s. e. c. came out with a regulation and two thousand seventeen on i.c.'s which are initial koin are for it this is a new way for small businesses and startup companies to raise money in a democratic way so curious my cool new service i'm going to put on the block chain and tokenize that let you mine it and and and and and if it goes up in value then the profits will accrue to this company that we have capital to start and so it's a way of democratizing venture capital funding to see when it's all i know what i feel is yeah yeah no i mean it's like an i.p.o. as they were doing digital efforts right and not really ruining stories a little exact exactly and so the f.c.c. comes out with this weird they a couple of paragraphs like if these look and feel and act like securities you're

going to have to be regulated by the f.c.c. well guess what the reason they were doing so well is precisely because they weren't be regulated but this is into the regulation their announcement was so strange you couldn't even unpack it well that terrified a lot of people in the united states really did there were a lot of i.c.a.o. that were coming online that just shut down because nobody wants to you know getting in trouble the law be accused of being a criminal so guess where all the i c o's moved to russia china israel. i mean the ice fields are going all all over the world now but not in the united states because everybody got scared what are we doing that it's crazy what i mean this is you know i just didn't they closed down i suppose china and russia no well . i think they make various belligerent statements but i think i think in china and russia people are less compliant then. because there's a lot of i.c.a.o.

money being being raised and many countries around the world by the u.s. here. this used to be the home of innovation i mean you know we host of the world's world's fairs all throughout the nineteenth century with the leaders and in fly and the commercialization of steel you know the the internet you know the u.s. has been the home for innovation for so long i don't know you know we've got this we've got this beautiful octane stuff going on right now and all you ever hear from the fed from the treasury from the ses c. and from congressman politicians the bureaucrats is warning this is probably bad stuff stay away from it you know i mean i read a statement from from a federal reserve member of the board of governors of the federal reserve system that they said look our payment systems are perfectly fine they're very very very good. and they're going to get better and so we don't we don't need block trained

we don't need cryptocurrency is we've got a perfectly good system that's ridiculous and they've got a model t. compared to the miles are already and the guy surely knows that so what i mean i agree with me is if you need to be celebrating technology jeffrey let me ask you one more question before we run out of our a lot of time here so last time we spoke you talked about you know counter party risk and that would be one of the reasons why. the digitals hadn't been adopted into you know taking a credit card a bitcoin card or whatever ripple card and using it for a cup of coffee but one area of regulation that does involve counterparty risk is the futures industry which at the end of two thousand and seventeen both chicago board options exchange and it's called a mercantile group started trading as you know bitcoin futures and that price has been fairly stable in the relation to the underlying and with that you do have counterparty risk somebody is going to be paid there and so can i get out of you at

least the admitting that the counterparty risk in that regulated markets a good thing. well i think you're going to have kind of part of this kind of time we use these the mediating institutions and financial intermediaries that that's always going to be there my point about kind of kind of party risk is if you're trading crypto to crypto as a physical assets not really physical as a digital asset then you've done something amazing i mean you basically make it made it possible to have peer to peer transactions without regard to geography between any two individuals in the world over over a real piece of immutable property claims and move those things import them weightless lee and space mostly through through anywhere in the world and that is a remarkable technology and if you don't see why that is a transformative thing what the power of that is then you really don't get crypto

and a lot of people don't understand that and it's not just digital currency from my perspective it's blocked change i mean in fact block chain may even ultimately be bigger than digital currencies just because it's spread out through so many other i think a protestant but look we're going to talk about plans more ahead on three to come back on oh listen i would love that we need to talk about those or the big important topic and it's decisive for our future for our children their children they're all going to live in the block chain everywhere i couldn't agree with you more geoffrey talker editorial director for the american institute for economic research thank you as always for your time we'll see again pusher. and finally on a programming note i'll be in davos switzerland for the rest of this week at the world economic forum we'll be bringing you some great boom busting interviews and we'll have some help holding down the fort here in d.c. from ashley banks in manila chan so talk to you tomorrow from davos be sure to catch boom bust it boom you tube it boom bust dot com slash boom bust r t c n x

time. that's right the stand. up for what. i know that i know a lot of shows that there are rather you know so i thought for the fourth and i think yes that. i'm going to let them but i don't question that you can keep an. eye and flew to china for all that it. was. on the show. and mind the. ambassador.

because it's whole food place choice for you and there's a payoff time in syria says. a. mile farther than half the whole front mr hague to jim and then i hope that our freedom in your court. what politicians do something that. they put themselves on the lawn. to get accepted or rejected. so when you want to be president or injury or somehow want to preserve. it's a right to be for us this is what the forecast for you in the morning can't be good that i'm interested always in the waters of my calls.

when you don't. see the gallic try to get a court to get. to what they need most through only ten space it. makes. love to know kelly said. semana claiming to know somebody did not say that to. alex you speak french. suppose you want the same thing then send them to continue to postpone it is talk of busy cut down towards justice costs. yes i was pretty good with clark but you can. help in the last election i believe will do it so well mostly we're going to move a wall so we will put you know one of the up and stuff and we will push it out so.

you move you to the you know who was the scots move you the clue could still be you know t.g.v. music should resign you took stage. it was more than a million bucks to look at the secret of the armor issue you can you get other cool useful opinion the mob boss may be updating us all the trails in my suspension of us they. will. come.

well we decided on the economic forum in davos with donald trump after a government shutdown we look at their agenda expected to go way beyond the global economy also to come. over one hundred french prisons are facing stalled blockades as gods demanded back to security after a spate of violent attacks by inmates. and the f.b.i. is missing crucial employee text messages according to the latest revelations from washington it's believed they could have shed light on potential bias within the agency.

to international studio with me and welcome to the program the law treats swiss resort of davos is opening its doors to the annual world economic forum but going through the cast list you might think this is more about politics than the economy because a record number of g seven leaders are expected to attend and that includes the u.s. president to. reports today is the first official day of the world economic forum here in the swiss alps and it has attracted a number of political heavyweights that are going to be in attendance everyone from theresa may to mccraw on merkel justin trudeau and surprisingly enough donald trump he has a speech scheduled for later this week that is much anticipated and it will make him this second u.s. president to ever attend most the first being bill clinton back in two thousand ill timed government shutdown back at home did put his trip under question for a little while but things are back. on track at this point of course many are very

curious about how his america first actually fit in with the globalist atmosphere that the forum both although no one's really expecting him to conform to that this year in general is shaping up to be a whole new davos with the politics of the last year creeping in and economic focus being a bit blurred first of all this is the first year ever that the summit is chaired by only women and a number of the discussions really don't seem to have much of an economic focus at all discussing things like race privilege and sexual harassment the hottest trends of two thousand and seventeen of course and v.i.p.'s are not the only thing descending on davos the past few days have seen almost two meters of snow fall leaving a lot of concerns and its wake the local authorities have warned of the possibility of avalanches the helo pad in davos was closed down for a few hours leaving the question of how the leaders are going to get to the forum perhaps we'll see them all on skis down with reality economic and environmental social and political fragility avalanche territory a loud noise can bring the whole mountain down from comes to town on friday turns

out davos is actually the social experiment when you gather a bunch of the piece then make them carry their own luggage through the snow and stand in lines with each other out. wonder what would happen if school snowed in and no one could leave for a week and the world realize that it could run itself without the business and political elites. author and editor gerald celente thinks those participating aren't focused on economic needs they're davos big to the zero point one percent of the people they have very little concern about what the rest of the people are getting it's one big club and it's a deal making club again all those saw the little things about you know gay rights equal pay oh that's just a lot of nonsense and it's for the media to write about when they don't want to write about the hard facts of how the so few own so much should have so many so

little. as you heard the three day government shutdown in the u.s. it's finally come to an end after the president signed a bill congress now has two weeks to find an agreement on the immigration the main sticking point between the republicans and democrats however the mainstream media is still focusing on the failures of down time even though the shutdown distractions two weeks shorter than the previous one suffered and the obama administration that should have been a day of celebration for president from one year in office the one year anniversary of his presidency but the party he planned it mar a lago is no more at the moment because you're waking up to a government that is shut down this is hard stuff for him this is first anniversary tomorrow he's got a big party and then he's going out to show the world what a great job he's doing as president so after years of domestic crisis if he was such a great deal maker the government wouldn't be close to what it. for

the first time in seventeen years much of the federal government is shutdown congress failed to agree on a new funding board midnight deadline the public of course is increasingly disgusted by what they're seeing going on or not going on in washington and the latest a.b.c. news washington post poll showed majorities disapproving of the president and both parties in congress. two thirds of french presidents are under a nationwide blockade of staff continue a two week long strike over a lack of security the protests began after an increase in violent attacks on prison guards by inmates one of the hot spots is the from. jail near paris it's the largest in europe and holds more than four thousand inmates it's also used to monitor suspected extremists among them. he faces trial over the twenty fifteen paris terror attack and his staff protested clashes erupted with police outside the prison. i.

look at the guys today we've all come here for strike because discontent is spreading across france the crucial program is the security prison personnel top of that is the issue of islamic radicals are also a character who are not isolated other inmates. are not usually it's dangerous for us to be around the inmates because for them we are everything they hate for them we are enemies by definition. with the blockades and demonstrations spreading across france schalit depends has been telling the story for us this is a nationwide strike of prisons across france with the union saying that around one hundred thirty of france's one hundred eighty eight prisons took place in.

particular strike now europe's largest prison which is just south of paris the protesters there actually blockaded the prison with tires with wooden pallets they burnt them afterwards that something that we have seen at other prisons across france as well quite a normal tactic to block those prisons this is now the eighth day of these nationwide blockades and this comes after just over a week ago there was an attack on three security guards at a prison in the north of france by a man who's a convicted terrorist now that sparked off these latest process but since then in the last week or so they have been several other incidents at prisons in france including an incident on sunday in which two guards were assaulted again now the unions and the prison guards themselves say that they want more working conditions to be more secure for the dangerous prisoners for those prisoners who've been radicalised to be isolated in the jails. we continue because today there is nothing

if you things that have been announced by the chancery in the trade unions the staff of rejected entirely we're blocking everything we're blocking the prison. we will block all of france in terms of security we want concrete things including materials that allow the prison staff to work in safety well of course prison guards and police officers are normally on the same side of the fence defending justice but in this occasion there are actually on different sides of the fence different sides of the opinion and what we have seen is conflicts and clashes between the two including tear gas being used at times take a look at some of what's been happening outside the prisons in france was. there or. was. president michael himself has

offered to unveil a radical reform of prisons across strong's that is due to be unveiled at the end of next month but it's going to come a long way away from this process which looks set to continue. the f.b.i. has lost crucial text messages sent by its employees which could shed light on alleged onto donald trump bias within the agency particularly over the so-called russian investigation u.s. attorney general jeff sessions has already said the justice department is looking into what happened while republicans are demanding a special counsel be setup over the matter from washington his samir khan. months of text messages between two f.b.i. staffers linked to the trump russia propane have gone missing one of the agents is peter struck he oversaw the investigation into alleged russian interference now he was also part of robert muller's team that was looking into suppose the pollution

between trump and the prime one prior to that the clinton e-mail investigation which went nowhere and then there's lisa paige a lawyer for the department of justice who also worked for robert muller the couple came into prominence back in december when their private text conversations were released to congress god hillary should win. i know. and maybe your man just to you where you are because you're a man to protect the country from that manifest. thanks it's absolutely true that we're very very fortunate and of course i'll try and approach it that way these text messages prove that both struck and page were biased in favor of hillary and the messages even hint at some nefarious political activity so when they wanted to dig deeper it turned out the rest of their conversation had disappeared the f.b.i. ascribed the data loss to misconfiguration issues related to rollouts provisioning and saw for upgrades the conflicts with the f.b.i.'s collection capabilities but let's not.