sponsored by banks like credit suisse for example that provider we turn based on the performance of vix futures so that's a great background and thank you for explaining it because i think a lot of people are unclear about where these things fit the vix what is a data point vix futures and options are traded in the futures and options world regulated by the sea f.t.c. vix related equity products are traded at like the new york stock exchange and regulated by the securities exchange for a little convoluted but you did a great job of explaining that and hopefully you did they're wrapping it up ok so in these products you're just a you're just started to talk about how there is an extra added bonus and i've talked in recent days about when you are at a casino and maybe you've made a little bit of money and you're walking out and there is this final big slot machine and you can win you know by five times your what you put in but it cost you

twenty dollars but you're up see a figure you go with it now that may be an unfair analogy to these inverse vix related products but there is a similarity in that you are they are one that the the profits for losses are compounded daily so exchange traded funds which people know it have been around for decades are tracking like the s. and p. five hundred really a legitimate thing and i'm not saying the others aren't legitimate but they're way more complex explain not just the inverse and the two three times but explain why they are complex the reason they're complex is that a lot of people don't realize that they reset daily as you point out a regular stock e.t.p. one the tracks the s. and p. or the russell they simply hold a basket of stocks and reflect their day to day value a lot of the leverage products. and the e.t.f.

ends they don't do the exchange traded notes they reset every day so every day is a brand new day and at the end of the day whatever happens it happens and that's one of the reason some of these funds don't you could lose two sometimes three times what you lost that day so it's not just a little bit it's not just what the market moved it's multiplied amplifiers right that day up or down which is why they are really to me and i'm curious of it in your view to me they require a little bit less different level of disclosure for average investors or maybe they're just not a product for an average investor maybe they're only as sophisticated investors i mean i'm not saying that these aren't potentially good products for risk management but what's your view well i think that's an excellent point i think there are a couple of issues one of the major ones that's being discussed now in a way that it hadn't before is in fact suitability so these are f.c.c.

approved exchange listed products available to every securities account institutional retail investors of all levels retail investors who can't even trade options because they have been approved in fact can freely purchase these inverse leveraged products now it's up to the individual brokers to decide whether or not it's suitable and each one of them has the ability to prevent access to those products and some of them have some of them have done so after the fact but the f.c.c. is now also looking at whether or not these products perhaps should have never been approved in the first place and what additional disclosures might be required the fact is most people don't read disclosures and that doesn't just apply to retail investors most sophisticated investors don't read disclosures either however those investors tend to have a broader and more generally sophisticated understanding of the dangers and the implications of being a long. short some of these funds well you and. many of our viewers may find this

surprising but as a former regulator i agree that there's too many disclosures out there because there's so many pages that you eat that don't mean anything and you just so but for these products so i'm also a big believer in trying to have regulations that live and breathe new change and maybe they should go through and find out which one of these disclosure requirements that they need to delete and then after they've done that perhaps they should go back and put in big red twenty four point type with a skull and crossbones and be careful about these a.t.p.'s and i thank you so much for being with us sure appreciate it thank you for having me. and finally aircraft maker boeing has reached a tentative deal with the trump administration for two new replacement air force one aircraft the total cost of the seven forty seven's is estimated at three point nine billion dollars a white house spokesperson claim that president trump haggled

the price down by one point four billion dollars you may recall that the president had complained about the cost of the aircraft on twitter prompting boeing to point out the unique and costly needs of a presidential plane while there have been some cynics sniping at the president if it's actually save some money good for him now he can go on to the other four hundred forty billion dollars in annual deficit godspeed thanks for watching be sure to catch boom bust on youtube youtube dot com slash boom bust r t c n x time. at the moment the period of fake. engineer all the central banks of

the day don't have the control that they think that they have and once you start to see this being picked up in markets like the gold market and others you know you've got to start to see feed on itself in a big way. from north korea to syria's president donald trump's foreign policy is literally all over the map north korea says it is open to direct talks with washington only to be met with preconditions in syria peace is within view but this is not what the trumpet ministration wants. in some american cities the police have built themselves cling to refutation of people who walk on the streets of the united states who are at risk from the very people who are supposed to protect that poor people are no more afraid of the police than of us. who can see

something happening and this is like i don't want to. let that happen rather than call the cops in. their lives chasing the with their fingers on the trigger you never know better safe than sorry i don't know that someone else is going to pull a gun so yes unfortunately around and around here we end up killing our guns are stolen from such precautions to. the headlines on our international president vladimir putin is about to give his annual state of the nation address to the russian parliament bringing you live with

our correspondent reporting from the venue. midday in moscow on the first of march ultimately the first day of spring thanks for joining us this is autumn international. any moment now we are expecting president vladimir putin to start his annual address to the russian parliament and other members of the country's political elite we'll be bringing you all of this lie but first i. have standing by inside the venue of the president's address i might add good to see you the location has changed this year though what can we expect to hear from the russian president today. well this address is.

fourteenth and indeed it serves two purposes two as a wrap up of the year as a rough sort of road. ahead for elites but here comes lied to me a putin himself let's listen to the man. with a little bit of much thank you. the citizens of russia. federation council and. my state address today. we are at this

point. when this significant. of the significance of every step. is extremely important. and. that's because. the future of our country for decades. it is at such turning points that russia has demonstrated capability to develop and to build new cities to space to make tremendous discoveries. this pursuit of the future of this combination of. value. this is what makes. it so strong but we went through difficult transformations we coped with it you can image of him an extreme difficulties in the economy and the social and sphere we kept our country together and we established ourselves firmly as a democracy with. the military in practically all the different

areas of our life which is critical for our. national always large country. with that same federal structure of different cultures. conflicts in our past and different tribulations so we had. the ability is a firm foundation but it doesn't guarantee further development if we can afford some of this stability to make you. relax and when you sit back we still have many problems that remain unresolved and russia still has that economic and sensitive potential that we need to improve the quality. lives we're not there yet but we have to. get there and this is what we are

going to do. i. wish there were zero but even in the positions of a state in the world two days defined by natural resources or productive capabilities is defined by the people conditions for self-fulfillment for every person. so our top priority is to preserve the people of russia to ensure their welfare this is where we need to achieve our biggest breakthrough. and like i said we have laid the foundation for that so now we can go to another level and address new challenges we have some experience was implementing large scale projects and programs. and this provides us with new opportunities for breakthroughs and long term growth

finally there's a huge technology potential in the world today that enables us to achieve a real breakthrough in the quality of life for our people developing our infrastructure and governance. how effectively we'll be able to take advantage of this technology revolution is that how we're going to respond to these challenges it's all up to us so the upcoming years will determine the future of our country will determine the future of russia. let me explain something to you and this has nothing to do with the electoral cycle with the upcoming presidential election where we're becoming cynics president. regardless of every person every citizen of russia realize what is happening in the world today and what kind of challenges we face today the technological changes are happening. and

those who take advantage of these new technology will lunge forward those who are unable to do that will be buried under this. technological progress. backward technological undermining the capabilities of your country and eventually losing your sovereignty that's there when you know that's a fact this will weaken the country and undermine its human potential and because new jobs modern companies peeling that broad. it's will emerge in other countries to be successful countries in the young people will go there are many talented people who will move. in the vitality and development potential i mean as a result it feels like i said that we are witnessing it with civilisational changes in the world today and this requires us to rise up to this challenge and we are

ready for that we are ready. for this breakthrough my confidence is based on the results. we have achieved so far which are quite obvious things we have achieved together we've consolidated the people of russia and we have a huge potential of our people are extremely creative for us to move forward and developed an amicable we need to expand the space of freedom in all the different areas we need to strengthen democratic institutions local self-government civil society the judiciary we have to be open to the world open to new ideas and new initiatives we have to embrace. the decisions we have to make those decisions we need to abandon everything that stops us holds us back with. preventing people from that which is fulfilling themselves and developing but we

need to concentrate on the balkans we need to be strong and work hard but. when you otherwise will have no future our children will have no future our country will have no future i don't mean necessarily the somebody will invade us no will be lagging behind this is the biggest threat. unless we do something that the situation will only get worse this is like a chronic disease that that you would gradually undermines your body from within. sometimes you don't even feel it. we. focus on development so that no obstacle prevents us from making progress so you it's up to us to define our future.

colleagues. which. is what our priorities are like i said. i think the welfare of our people is our top priority in. the year two thousand and. forty two million people living below the poverty line this is almost thirty percent of our population twenty nine percent to be exact twenty two world cup will reduce this number to ten percent because of the economic crisis poverty went up again when we have twenty million and of our people who are living below the poverty line that's not forty million like we had only a year two thousand where the extra one acceptable even some working people live in very modest condition for the first time in our more than history we were able to raise minimum wages. and this. may go into effect on may first of twenty this will affect. people this is an

important step and yet it doesn't resolve the problem entirely new when we. do our employment system. do we need to provide people with jobs that. provide the. genius that we need to create more than jobs certainly this is the foundation that . would be that we need to address in the coming. reality sustainable. growth of when you meet personal incomes over the next six years we need to reduce the number of people.