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tv   Boom Bust  RT  February 7, 2018 8:30am-9:01am EST

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there's no doubt the the bottom line in the astounds case is the very serious and likely risk that he would be extradited to the united states to face a whole raft of very serious charges including espionage which can in theory carry the death penalty at the very least he can expect forty years in prison and possibly life imprisonment so it is totally understandable that as a rational human being journalists aren't would not wish to step outside the ecuadorian embassy when that risk of arrest and extradition to the u.s. hangs over his head on tuesday songe took to twitter over a square scare at the ecuadorian embassy in london apparently a package was delivered to him containing a written threat and identified white powder a police inspector at all it turned out not to be dangerous. but not all have been threats five years inside that small embassy means that julian assange has had
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plenty of time on his hands to entertain visiting friends and supporters. thank. you.
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a new and tea party is about to be launched in the u.k. with support from across the channel french m.p.'s belonging to emanuel on the march movement not only back to the idea but have reportedly been giving advice to the founders of the new british party. picks up the story. this is really a brand new political party that's about to launch in the k. its goals are quite ambitious pledging to transform british politics and reverse brigs it it wants a second referendum on it i think there's no chance of bragg's it being reversed the british people have spoken and that's an end of the matter they can bash their head against a brick wall although get is a sore head for the party is launching in the u.k. it's getting advice for of course they can all hear it from the helping hand coming
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from a manual michael's party the republic of march with advisers said to be at a recent meeting consulting about tactics and it's norm which one you're a good friends was glad you came here like us and like many of the countries looking for because it was fairly despair i think and today in truth increasing you can look at the future musical and i think the movement of christian authors i mean with when you use the future you can embrace. during the ideas of mcewan's which invited in every day people regardless of their experience in politics were new also calls on everyone to join and those behind it hope it'll work for them to . we don't have much time the only way of winning is by the same miracle as michael the u.k. electoral commission says there is no issue with the british party receiving advice
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from a foreign political party providing it receives funding from it so it's fair enough but what the reaction be if the advice was coming from a russian party will there be a great outcry as there would be if politicians from any political or from any other country were trying to advise politicians or tell them what to do but i mean what we should all be doing of course is talking to politicians from other countries not to get advice from them not to be told what to do but simply to find out what's going on in those countries we are strongly in for an interview to discuss the policy but they said they were too busy however they made their feelings about our year saying that r.t. would look to undermine it also accused the channel of being a propaganda tool and suggested that russia had interfered in the brig's boat dividing the u.k. for europe this fight
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a lack of concrete evidence. when you clearly doesn't have a problem when it comes to seeking the advice of a foreign power such as france when it comes to reversing brigs it a referendum in which the majority of voters or plea to leave the you so it seems that through you meddling is ok it just depends on the country involved challenged even ski r.t. paris. a recent poll has found that the majority of americans believe the media is biased and it comes at a time when ever more for most senior government employees are moving into t.v. punditry and with us around controversy all around the recent nunez memo giving them plenty to talk about so we were can explore if there are grounds for the presumption of bias. many people seeking expertise on the new nose memo must be switching through channels these days so is it
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a big deal or is it underwhelming was the right to release it well here's a familiar face to answer all of the questions the fact that the newness of republicans denied the ability of the minority the democratic members of that committee to put out its report is just appalling he has abused the office of the chairmanship yes that was john brennan former cia director and now a member of the m s n b c family as a contributor brennan was a prominent figure in the intelligence community appointed by barack obama but that background doesn't necessarily mean he's biased right but brett is not the only intelligence official who's joined the ranks of mainstream media we also have josh campbell who resigned from the f.b.i. and joint c.n.n. as a law enforcement analyst he's yet to make his first appearance on the network but before he does here's an excerpt from his latest new york times op ed defending his former employee these political attacks on the bureau must stop those critics of the agency persuade the public that the f.b.i. cannot be trusted they will also have succeeded in making our nation less safe it's
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not hard to guess what campbell will say on c.n.n. regarding the nunez memo which accuse the f.b.i. of bias and just a little reminder he was also james komi special assistant the same komi who's accused of wrongdoing in the memo but of course campbell and brennan aren't the first to make the switch there is an absolute leftist bias in the country most of the networks if you just add up for example the time that they speak negatively about the president it's about ninety percent of the time and there are numerous studies that show this where for example president obama he would do things say things in there would be no media coverage of it whatsoever and case in point are the recent memos that we're all seeing come out of course the republican memo released the new memo great scrutiny over most of the american media. very little coverage when what should happen based on that memo for example would be that that molar is investigation should be expanded but that's not what the media
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has called for now it said that you can never teach an old dog new tricks so how can we expect these ex government officials to magically shed their previous political associations. are still to come here on the program on the international the pentagon is asking for
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a quite large really increased defense budget saying well it's all to do with threats coming from china and russia more on that story after the break. here's what people have been saying about rejecting. the only show i go out of my way to. really attack them. is the john oliver of r t america
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is going to say we are fairly better than. the c. people you've never heard of. jack tonight president of the world bank ok. seriously send us an e-mail. and it is good to have you with us today the u.s. military chief james mattis says urged congress to increase the country's defense spending this is necessary according to the defense secretary owing to the growing nuclear threat from china and russia. russia has reduced to only the number of its accountable strategic nuclear force russia has been modernizing these weapons as well as other nuclear systems. moscow advocates of theory of nuclear escalation for
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military conflict trying to modernize and expanding the authority considerable nuclear forces pursuing entirely new nuclear capabilities while several days ago the pentagon issued a nuclear policy review in which it names north korea china and russia among its main security threats that it has to pop in claims that it's not possible to delay the modernization of nuclear forces there if you also says that the u.s. reserves the right to use a nuclear response against a known nuclear threat and the trouble ministration is pushing for a seven hundred billion dollars defense budget this year which is ninety billion more than last year. congress must commit both an increased and sustained investment in our capabilities disastrous on the level of funding for the military and insufficient funding created an overt and under-resourced military we need congress to lift the defense spending cap to support the budget for
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a military. well they want more money because they just want more money i mean this is what the government lives to do it lives to spend so when you start using these weapons it's all too easy to escalate it's a horrendous thing the u.s. has got its bases about a thousand bases in this world around these other countries it's threatening their destruction and i don't know what's going to happen but it's very very disturbing that these guys are talking openly about this kind of military escalation it's an outrage that in the american people should be letting this go on and maybe they don't even realize what's going on but it's important that all of us understand what's going on learn something about what they're doing it's it's. it's threatening to everybody in the world and anybody who's got children or
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grandchildren would like to see their families continue into the future to be worried about this desperately lord. the war in yemen is over a thousand days old and the humanitarian crisis in the country is only getting according to the u.n. almost forty seven thousand yemenis have been displaced since december all reports of children being killed or injured in the salad as strikes keep coming in we did speak to some of those some of those affected i should warn you in advance though you might find some of the following images to. you know what do you. get the answer didn't even know what about side of the.
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economy. was on the list with little money. so i began with the me michel. by the president i could be. had i get a small. but they should learn this medicine and. i said i'm going to let. the former headquarters of the nazi parties secret police in the city of hamburg is one of the last reminders in the city of the horrors of world war two but city developers decided to give the star hope for building
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a new life which is not going down too well with that of course. even though it is that many people died off the top ship which isn't mentioned that's why there must be a commemorative place here it is a social obligation for the victims they've come here with so right. to the future i believe that this place should be more appreciated than it currently is. the model that homage to mine in the place of death is at the fur elise tasteless and what was printed by many newspapers hello hello. which is phrased in a way that's reminiscent of the words at the concentration contra says work sets
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you free. so that her first the film could start with headquarters compound the torture took place that. one must feel sorry for the future tenants they did not even know that if it's a hotel for example it's a hotel of horrors and torture. i say joining us here on international more of your worldwide news in about thirty minutes. all see we have a great team we need to strengthen before the freefall world cold and you're better than a legend to keep it tight at the back. in one thousand nine hundred two that must qualify for the european championships at
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the very last moment no one believed in us but we want. and i'm hoping to bring some of that winning spirit to the r.c.c. . recently i've 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 the last three. thousand the joke i was only kidding here i called. dr. left left left more or less ok stuff that's really good. two americas too intensely charged in opposing news narratives to cable news networks reflect these divisions or rather function as triggers intensifying cultural divide also what has happened to journalism is it now
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a profession inhabited by hacks in the politically possessed in america a college degree requires a great deal. paying a decade's long debt. studying so hard it requires. going through humiliation to enter an elite society. and paci into debt sometimes quite literally. want other true colors of universities in the us. this is a boom bust broadcasting around the world from washington d.c.
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i'm part chill to you coming up we take a look at the tumultuous markets tumbled. two experts in digital currencies are again in the headlines this time as the chairs of the securities and exchange commission and my old agency the commodity futures trading commission testified before congress plus wells fargo is still in the news as the u.s. federal reserve places rough restrictions on the banks we'll get into that with eric rohmer now let's check out some of the stories topping today's headlines. on friday the dow jones industrial average plummeted six hundred sixty six points abets not an ominous number then yesterday making friday seem like child's play we witnessed the largest point drop ever ever amongst the dow industrials a drop of over eleven hundred points for those in the u.s. watching and wondering in real time why the boom bust team was it sure seemed like panic selling as the market had dropped from five hundred points down to sixteen hundred points in seemingly no time at all it has been and may continue to be
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a monumental market moment in history r.t. correspondent trinity chavez has more from wall street mark there's a lot of frayed nerves here on wall street as a global stock slump leaves volatility and it's way yesterday we had this thing gold biggest one day drop on the dow jones on friday the dow opened above twenty five thousand this morning it dipped below twenty three thousand nasdaq fell almost four percent on monday also one monday around the world japan's nikkei index the hang seng index all took lost as close to five percent of total value the shanghai composite dropped almost three and a half percent in the stock in europe six hundred lost three point two percent this slide is more surprising and even more unsettling as this comes after the rally in the beginning of the year and after historically low volatility in the stock market report for us to stop. trump administration budget director mick mulvaney continues to drastically reshape the consumer financial protection bureau or c f p b last
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week mr mulvaney straw. c.f. p.b.s. office of fair lending an equal opportunity which pursues discrimination cases of enforcement power is action was denounced by civil rights groups at the same time mr mulvaney c.f. t.v. is undoing an obama era regulation on payday loans and has dropped notable pending payday lender cases including that of one company world acceptance corp that had donated to mulvaney as political campaigns payday lenders previously donated an estimated sixty thousand congressional campaign dollars to mulvaney between two thousand and eleven and two thousand and seventeen. c.f. p b is also reportedly scaling back an investigation into the equifax data breach last month mr moe veiny was criticized for saying c f p b represents lenders when his agency is specifically chartered to protect consumers by law and by name.
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the general manager of the bank for international settlements has some remarkably harsh words for crypto currencies general mattis manager of gustin carsten addressing an audience in frankfurt germany earlier today referred to bitcoin and its peers as quote private digital tokens posing as currencies before saying that bitcoin quote has become a combination of a bubble a ponzi scheme and an environmental disaster carstens also set up authorities to not act preemptively crypto currencies become could become a threat to financial stability carstens comments carry heavy weight due to his standing amongst the global financial business class his resume includes lending the leading the mexican finance ministry and central bank and a stint as deputy manager of the i.m.f. the international monetary fund bitcoin value dropped by fourteen percent falling below six thousand dollars after carstens comments but later rebounded and we'll
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have those exact numbers at the break. but right now we continue to discuss digital currency is with jared andersen he's the director of simpler trading crypto jared thanks for joining us the chairs of these securities and exchange commission and the commodity futures trading commission the c f.t.c. testified before the senate banking committee today take a little listen to their opening statements we the f.c.c. and the sea f.t.c. do not have direct jurisdiction over the popular markets they trade true cryptocurrency. this is not an oversight it is the result of a new product and market the c f t c has produced a large amount of consumer education materials and virtual currencies including written statements podcasts women ours and a dedicated a bit quaint website we've even schedule visits to libraries and briefings for
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seniors we've never conducted this much outreach for any other financial product jared what's your take on that here and i know you were watching intently today what are your thoughts. yes so i watched the whole thing and you know i i honestly think it was sort of just a bit of an ambiguous talk overall there was really a lot of back and forth but without really any definitive. statement on what they intend to do the one thing that stood out to me was regarding i see where you know many points people across the board you know brought that up and how much money was raised and the inability to track really where the money was raised from so the one thing that came from me was. it kind of eliminates sort of the cloud overhead that you know i think the market was really waiting for for some clarity from this but really the only thing i heard was that they are pushing towards regulating i see
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those and have kind of made the warning to anyone doing that to this point no one has registered with either agency to you know to push one of these out so in my mind i mean it kind of gives the green light for bulls to put you know potentially step back in i think we might have that clip and you're right that was that was our takeaway here whom bust also can we roll that clip on elizabeth warren and clayton so it is not new is it isn't new but it is not ok and it is not another way to raise money correct i am understanding you to say it is violation of the law yes. ok so so you know there's a question about these i see those but the elizabeth foreman jake lightner saying they are operating outside the law does you think that means that the i.c.'s are going to continue to be done in the u.s. jared only under increased regulatory scrutiny or are they going to move someplace else outside of the u.s.
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. so in my mind i think we'll see both i think you're going to see a new wave of i.c.'s come out of the us that are going to the lengths to be compliant i just think that it really needs to happen to a certain extent i'm all for kind of the government keeping their hands off things but in my mind you know just talking to different people there have been a lot of people taking advantage of. you know with that said i also think that we'll see across the globe you'll find you know the safe haven for i see so you know we see that kind of thing with tax evasion and other things like that and i have to imagine with i see we'll see something similar ok so separate from the i see those how about you know regulation in general in the digital space you said you know you don't prefer it but you know i sort of look at it in two ways one you've got to protect consumers i think or at least somebody does you may think that it or not government but we've seen so many times where we've had computer problems whether or not it was mt gox or the one coin check in japan just last week
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where you know hundreds of millions of dollars are lost that that's not right so is there sort of a middle ground here gerri between overregulation that forte's innovation in this really innovative promising space in my view and protecting investors or should the government just keep their hands off. yes i mean it's really a great question and i think you know you kind of hit the nail on the head there too you know a bit where. i really think that you know it's on sort of the consumer in one way to look at is where if you know i'm investing in these things and so i take it upon myself to act as sort of the bank where i'm going to lengths to to store these things you know via cold storage or hardware wallet things like that you know where you mentioned mt gox being sort of the issue keeping on an exchange now where regulators i think need to come in and they just need to you know paint pretty clear lines how these companies can sort of operate where they're not at fear of
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being held liable for breaking the law so i think if they were to come out with some clear statements on here's what we expect and you know we'll let you in of a because that's always the biggest issue with you know government interference is that stifles innovation across you know where blocked change i think is going to change the world you know not for just finance but for things like voting and you know just sharing information in a very transparent way so yeah i'm very hopeful that we will see you know lenient you know regulation at least initially i agree with you actually on most of that jared and one of the other things that see f.t.c. chair giancarlo told the banking committee and you may recall it from sitting through all of it today was that he thought that we should look at digital currencies and block change sort of like we did the internet when the clinton ministration was in place and and give them sort of a free pass of some of the regulation so that we didn't for innovation that
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happened then it sort of worked although i guess that's subject to some debate so anyway we thank you so much jared for being with us jared andersen the director of simpler trading cryptocurrency thanks for being with us hope you'll come back again yeah thank you for having me really appreciate it. wells fargo a historically important part of our american heritage has been in the woodshed for a few years now and for good reason they establish sham accounts for their customers and charge them for things they didn't want or ask for amongst other things they have been hauled up to the hill before the house and before the senate and it was not a love fest best you were competent at worst you were complicit and either way you should be fired. wells fargo officials testified to tepid measures to address concerns but later there was even more trouble now the us federal reserve has waited taking an action which one commenter said is putting the fear of god in the
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board and bank board rooms here discusses eric reimer a former f.c.c. official and policy commentator eric thank you for being being with us first of all tell us what you make of their entire sort of nefarious actions give our viewers what wells fargo has done over the last three years to put them in this problematic circumstance and it's a very multifaceted problem basically it back in september two thousand and sixteen . the o.c.c. and the boss and it's in the attorney revealed that wells fargo for about a decade had been encouraging or at least facilitating its a sales reps to create millions of fake accounts primarily checking accounts have accounts credit cards for their customers that were not authorized by their customers and essentially this allows wells fargo to reach sales quotas to drive increased fees and to basically bolster their bottom line at the expense of their customers that also goes on top of several other scandals the past few years and wells fargo has faced a rating from the car.

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