ten trillion dollars on their books and they've only produced maybe two trillion ten trillion out of the ten trillion two trillion in quantifiable so that's what a ratio of five to one or something so we're not getting any organic growth from what they're doing and what they've done is they've destroyed capitalism by printing money quantify the money it is that i think we need to get back if we're going to have it here because hapless them we've got it there that's it's what you're saying it's we can't like what you're saying is this the financial ization of the economy where it doesn't make anything any don't need anybody if you don't make anything you don't need workers ok this is what's happened here steve we've all got to the break you want to jump in there i'll head him go to steve go ahead in brussels you know because one of the church trump keeps on talking about making bad trade deals with the worst tried to america even though it was it was insisting that the american dollar become the reserve currency for the planet because what that meant was that you getting other countries want to try it with each other they had to buy american dollars above and beyond the demand they had for american goods and that means of course american dollars than it would be if we had what kinds

proposed which was the bankole and its national currency and by no country administered through the i.m.f. if that was done america's exchange right maybe twenty percent lower and it wouldn't need to complain about bad competition in manufacturing so there's a lots and lots of ways in which this is being done by america trying to be the exception of the planet and making a stupid try to deal with things like they think made it look good plus also there's an enormous excess of still on the global and off a largely due to china's enormous stimulus program and that is part of the reason why america is complaining about dumping and they've got a point ok and let me get it go to you let's start talking about china is this really just about china go ahead and. i think it is largely about china this tariff this global tariff really is because they're worried about china still going through other countries that are coming into the u.s. so they want to close. all doors so yes it is targeted at china but then there are

going to be a lot of there's going to be a lot of collateral damage as a result and so. you know the ministration is going about with very blunt tools. it's clearly not gaining friends or your allies that it will going to talk about that after their brave issue aside i'm going to a short break and after that short break we'll continue our discussion on trade war state with a marquee. some is not is not a quick place is not a good country. trying to see to administer to live but

some of us well before the storm. does exist without that us to go this is. just a glitch i actually. took ok let's reduce the. check yes . just little and bias from the moment of themselves to be a little. play almost anything from the bible for the based on our second hour that john said i'm based on the mushroom that's right and i mean can i do i would mr right is from cut me out on our money team. from i can. almost. fuckin on. this is ridiculous on the numbers but show you the super model of a lot of the cities in the american. forces in the sort of the world of the street . snowmobiler go for you know the law says. the seriousness low.

tax rises financial survival guide stacey let's learn a salad fill out let's say i'm not so i get any earthly grease banks have to fight wall street fraud thank you for something. destroy that's true. that's slavery. but you go to shit where you can you learn not to tell you the truth none of us are no good morning and one million people die and die. killed people maybe even vaguely.

now no one's going to wait to chew everybody's running and that's. welcome across like we're all things are considered i'm peter we're discussing trade wars.

ok right before we go to the break and gave the operative word retaliation ok you know there's a couple of things here what we already know that the europeans and the canadians are talking together the chinese have made it very clear they're not going to take this sitting down and i think we have to remember folks is that there's been a lot of pressure at least rhetorically from the trump administration on china to quote unquote take care of north korea which is illusory they don't have as much influence as they think but now the koreans are going to be in the target of tariffs here and that this is a time when the mid north and south are talking about possibly some kind of reproach moment which watch it isn't very happy about this is adding insult to injury if the south koreans are going to be sanctioned in this way by the united states through tariffs go ahead mitch. i think that u.s. dollar gemini is a big part of this puzzle and steve mentioned briefly you know the problem with the u.s. dollar being the world's reserve currency for the past hundred years i mean i think

eventually there's going to be and it's going to happen soon we're going to have a currency that you can exchange for either gold silver oil or something and it's going to actually be backed by something other than a promise to repay something that can never be repaid and as you're saying a lot of the countries will start to realize that it's going to be impossible for the u.s. to ever pay back its debt yeah and this money that's been printed that has ended up financing and enabling a grotesque asset bubble in stocks bonds and property and corporate stock buybacks and leveraged buyouts leverage too much debt credit and leverage will end very badly with the u.s. dollar taking it on the chin and the other countries realizing we're going to have to come up with a different solution for a global currency you know steve. again i brought up the issue of bluffing but the united states share of glow the global economy in trade it's year after year gets smaller and smaller i mean it does. the united states.

doesn't misunderstand how essential it is to the global economy i mean we have other vectors of growth we actually and it's also here in africa there's a lot of growth of course there's the whole china issue here i mean can the united states dictate. trading patterns and laws and realities the way it think it can it can because i don't think it can as much in its dwindling with every single year go ahead steve. well a large part of the what lots of the americas lost its share of the local tribe as . americans transnationals to take advantage of low wages particularly in china i was actually i went to the construction of the very first free trade zone in china are not one id to the shans and free trade zone and the specs when i showed that the managers guy there which is quite brilliant was that they were going to take advantage of a loophole in american tariff laws that let american corporations really import goods that exported to third world countries for the manufacturing and not painted

tariffs on that work and that would get them the technology and at the same time they saw what happened with free trade zones in the rest of asia where they as soon as the wages rise the companies would move on of they also insist that the each company had to have a chinese within five years the chinese papa had fifty percent of the business now that the the cut in costs that they the american capitalists face was. willing to do that and of course what they did was they big increase their share of the income of the america they were just a share of the workers benefited china dramatically and now they're in the long term it's the fact you have something vaguely resembling a democracy in america meant the workers who got screwed by the process to wise now starting to fight back and trump unfortunately is their champion you know and you know it if i get the impression because i mean even before he was president before the campaign trump was always big on trade i mean with the you know awful trade deals and all that it is he look at this is a silver bullet because the u.s.

economy it is there's so many things that ail it is and it's a very complicated thing it's just not about trade so again i go back to the political issues that he's presenting that he's quote unquote doing something but is that could it be enough go ahead and. so i certainly don't think it's enough there is a lot that ails the u.s. economy. you've got a situation where there's just too much red tape many entrepreneurs actually can't get their products off the ground because they're stuck in areas where they are waiting and waiting for green lights and frankly they'd rather go test out their products in china which has far fewer red tape you have basically an educational system that's been failing most of american children. so you know a lot of people are just not prepared to be workers in this new twenty first

century knowledge economy so to speak. there are so many issues that he would need to tackle but he doesn't have the time to his term is only four years and so he's just going to go for whatever low hanging fruit he can just to at least pleases base so that he will have another shot or another term later i think that's a very big and so i think that's. a that's a really good conceptualization there and it's low hanging fruit here you know michel for me the you know i was a trained historian for me what i think is really quite interesting is that if you look at after the second world war the united states made amazing sweetheart deals with trade with its allies in europe and we have with south korea we had japan taiwan you know even that was a geo political expedient ok they wanted to keep the western bloc of goodies to keep them in there ok so you know importing stuff into the united states i really i

can remember you know in the one nine hundred sixty s. everybody laughed at a japanese products you know their little plastic things it was a joke ok by the one nine hundred eighty s. it was a different tune and we could repeat that also with the chinese all right i mean the because the united states did that for geopolitical reasons that actually undermine. it's a khana me in the long run because i don't personally and i'm agreeing with it and i don't see you really a way out of this ok because the people that have the money and the capital they have financial eyes the economy they make a lot of money off of it but there isn't make anything for anybody else go ahead mitch so so what you're talking about is what i describe in my book plan of ponzi your financial ization has ruined what we have today you discussed after world war two we had actual organic growth so we had organic growth. we had organic growth which drove the commies forward and we had g.d.p. in excess of where it is today global g.d.p.

is a new make at best and the only growth that we're seeing is a derivation of central bank money printing yeah so it's not in reality growth driven by product creation it's growth driven by stock buybacks leveraged buybacks and wall street creating you know crony capitalism and that's going to definitely and badly because interest rates have gone from fifteen percent in one thousand nine hundred eighty three in one thousand nine hundred one down to close to zero so the cost of finance ponzi finance today is relatively too low so it keeps the zombie companies in business no organic growth is created real wages are the same level or lower for the average worker as they were in the one nine hundred eighty s. yet to issue in cost are up two thousand percent health care costs have spiraled out of control with obamacare so you've got a real problem and that's and the fake news media will do anything to destroy trump along with the deep state and you know and the agents that want to control and have

neo liberal neo liberalism as the rule you know and acted academia in america has turned into indoctrination so it's a disaster fortunately it's a disaster you know the landscape has changed even you know in a positive way and not in public you know steve one of the things is that a lot of pride supporters and. outlets that support him in the media that they like to really pound away the stock market the stock market well correct me if i'm wrong but i mean never since the late eighty's the stock market doesn't have any doesn't reflect the the livelihood and prosperity of the average person in the united states it certainly tells you about the super rich ok but it doesn't translate into the real economy steve not by a long shot and the fact that your stock market vs something bottomed at six hundred sixty six before the quantitative easing program began of the fed and that . was supposed to see me like the man through what they called the wealth effect where their own research showed there was no will figure out of shares in terms of

its effect upon aggregate demand the only world i think i could find was out of rising housing and even that was tenuous of course but could collapse to as it did back in two thousand and i so we have what we have as a people bunch of people governing who are who are on the should check the top and i think you've got a subtle but at the rather than the rather than us of the law and this is a real problem we have a lack of understanding of how capitalism actually functions in the minds of those who are trying to manage capitalism you don't you know you don't want to you to apply your china china expertise here how on how will the chinese react they have a lot of assets and resources at hand ok and they have an economy that is expanding really expanding how are the chinese going to react to this from go ahead i think they'll just take it on the chin they probably already anticipate this and they i'm sure have drawn up a list of things that they could retaliate. and i think among them with the areas

where they feel that could hurt the u.s. where the u.s. is vulnerable so where is the u.s. vulnerable because the u.s. actually has you know a lot of cultural products going to china china is now growing more soybean and corn so if they basically say we're going to stop importing. your story being in corn us then a lot of the farmers are going to get upset and this is also a big lobby in the u.s. . they could also basically decide that they're not going to go forward with all the boeing airplanes and turn to airbus instead and so this would also hurt you know u.s. manufacturing in a way. or oil and gas and the other big u.s. expo. and china was importing a huge number from the u.s. last year but you know china basically is buying

a huge chunk of aramco from saudi arabia they clearly are trying to secure other oil and gas from other countries like russia and so they're basically diversifying all their imports and this way if they decide that they don't want to import from the u.s. it would not be too painful for them and so china is not going to just sit back and you know pretend that you know everything's ok and let the and not themselves be a punching bag know they're going to retaliate some way but they're not probably going to make it too obvious will probably basically create new laws here and say that i'm going to translate here these are and we've run out of time we've run out of time. and absolutely right this second shoe will drop many thanks to my guests in new york and in brussels and thanks to our viewers for watching us here in our to see you next time and remember trash talk rules.

apply to many flips over the years so i know the guy even saw you guys. the ball isn't only about what happens on the pitch for the fun in school it's about the passion from the families it's the age of the shape of money billionaire owners and spending two to twenty million and one player. it's an experience like nothing else really because i want to share what i think what i know about the beautiful game great so we're all chance with. six point eight. the new global economic war is unfolding in the realm of education the right to

education is being supplanted by the right to access education loans higher education is becoming just another product that can be pulled and sold so this is not just about education anymore it's also about running a business where you could you know models that the regime could these songs. they couldn't. want is the place of students in this business model before college i was born now i'm running stream three more higher education the new global economic wall. your column say that. something is good in kosovo all but for barcelona. but fall for. whatever. either the principle is good or the principle is bad has to be apply equally and that is not being done.

the headlines on r.t. international and u.s. senators are calling for a strategic dialogue with moscow off to president putin to recently unveiled russia's latest nuclear weapons capability. president from slops a tower of song steel and i'll even you know imports raising the specter of a global trade war with other powers now vowing retaliation. and several fatalities are confirmed off the terrorists once again shelled civilians trying to escape the rebel held syrian enclave of used in ghouta. just turning mitt. here in moscow on this friday you are watching on c.n.n. international a very warm welcome to you. senators are urging washington to engage in urgent

dialogue with moscow to minimize the risk of conflict in fact they've written a letter to the u.s. secretary of state rex tillerson here's some of it. a u.s. russia's strategic dialogue is following president putin's public address on march the first when he referred to several new nuclear weapons russia was reportedly developing including a cruise missile and a nuclear underwater drone which is not currently limited by the new start treaty and would be destabilizing if deployed. in further now joining me live in the studio to discuss this further what would you say has prompted the senators to write this letter well it really does feel like putin's addressed earlier this month did prompt this and really hit its target of getting the west's attention and while this letter is directed at the secretary of state rex tillerson it urges him to begin strategic talks with russia without delay and within that there's also

contain warnings and accusations towards russia the allegation that russia is in violation of the i.n.f. treaty is repeated it within there which of course russia has repeatedly denied and there are also calls to extend existing arms treaties with moscow to cover the new weapons that putin referenced in his address at the beginning of march so clearly the u.s. is worried but the fact is russia has been alarmed by certain actions being taken by the west and by america in particular for quite some time now not least of which being you know washington's expanding deployment of missile defense systems they have them in alaska they have them in california there's of course also nato is continuous expansion into eastern europe they have in romania and poland as well with future plans in other parts of the world and what have may have been the straw to break the camel's back here in the situation was an early february we saw the us release their nuclear posture review and within that it widened the gamut of

scenarios where a nuclear response could be considered and that includes in response to a non-nuclear attack so rather frightening idea there and all that has been concerning russia for some time the balance of power in the world or the lack thereof maybe i should say and putin himself said on march first that maybe the world would listen to those concerns now let's take a listen. sinemet you can do russia is a major nuclear power basically nobody knew what to do talk to nobody listen to us so they listen to us now so listen to us now says the russian president and apparently there are quite a few things jackie to be listening to yes what he announced i mean these weapons are nothing to shake a stick at there's the super heavy i.c.b.m. that's a massive missile that putin says is capable of defeating any defense system in the world there's a cruise missile with an unlimited range and that's among laser weapons and an

underwater nucular drone so quite a bit there and the senators say that due to putin's announcement of these weapons it's more important than ever to come to the table and talk with russia in order to avoid conflict. even at the height of cold war tensions the united states and the soviet union were able to engage on matters of strategic stability leaders from both countries believed as we should today that the incredible destructive force of nuclear weapons is reason enough to make any and all efforts to lessen the chance that they can never be used again and that idea of strategic stability really seems to be on the same page with putin's thinking because after his speech on march the first there was a lot of uproar that this is a threat to the world security and whatnot but the russian president himself said that was not the goal that russia has no plans of attacking anyone it's purely defensive and that it's in fact to try and preserve peace in the world so right now

we of course have seen that u.s. russia relations have really hit an all time low and moscow has already responded this responding to this letter saying that before anything can be discussed any new treaties can be discussed and what not that really does need to get fixed so that's at the first forefront right now all right. thank you. all right well for more on this let's bring in a political commentator john bolton is now joining us live here on the international. show here in the studio thanks for joining us here on the program do you think a lot of my putin may have achieved his goal of getting the u.s. so listen. absolutely his words that he said no one listened to us and now you're going to listen to us hit did center strike there is no doubt about it everybody in the world is listening to vladimir putin right now and john i want to bring in bring in this issue of how the no out of the u.s.

state department just a few days ago said when she ruled out any normalization of relations with moscow then these four democratic senators write a letter to tellus and calling for normalization and then a few days ago putin in an interview said the u.s. political system is eating itself up your thoughts on that oh i think it's it's a very it's a very observant remark. the united states system is not equipped to deal with let's say discussion partners who are themselves very powerful and very able to defend themselves we recently saw a complete a boat face on north korea and now trump will meet the north korean leader and i am absolutely certain that there will be talks and there will be disarmament because russia has now shown its strength john will washington at least while taking moscow

security concerns more seriously you know even if it doesn't advertise the fact. you know when president putin went through his list of new weapons those of us who have been following the a weapons race since it started again in two thousand and two when the united states pulled out of the antiballistic missile convention have realized that every one of the weapons that president putin has discussed were previously planned by the united states especially the slam system supersonic low altitude missile well the united states threatened it and russia has delivered it so now we're talking about two equal partners sitting across from each other at a negotiating table in which one cannot threaten the other in a way that the other needs to fear you know actually these are the preconditions

for real substantial and productive disarmament talks and that's what we all need you've heard or you've heard the likes of kim jong un and officials in pyongyang talking about achieving a certain range with missiles five thousand kilometers or eleven thousand kilometers you've heard america talking about the range of their patriots and scuds and so on and so forth just the other day during the federalists somebody address putin talked about a type of missile and a type of a torpedo that is the run on a nuclear engine which means they can run on for years and years and years what do you think was the pentagon's reaction to the. i think that the that the people eating in the cafeteria at the pentagon had a tough time jesting their lunch that day there's no doat that the conventional powered arms race is over that we're now talking about infinite flight

nuclear armed glide weapons which means that in case of potential detection the power source can be turned off and the weapon can fly as a glider carrying multiple warheads this is a weapon for which there is no defense now and there is not even a defense on the drawing board so we have now reached a point in which first of all there can be no nuclear war except for total destruction second of all russia and president putin in specific has laid out the declaration that if any russian ally is attacked that there is going to be a response from russia that means the bit by bit chipping away at non american controlled countries like libya and other countries around the world such as syria that's all over so if this gambit succeeds the world is looking forward

to a period of unparalleled peace peace because there is no alternative political commentator john bosnich thanks for joining us. it is r t international militants of shelled a refugee convoy trying to leave the rebel done terrorist controlled syrian enclave of eastern ghouta of the russian defense ministry has confirmed that several civilians were killed in the old r.t. is that my dad takes a look at various factors hampering the russian sponsored evacuation process. according to the russian military the three hundred families that allegedly gathered together to leave eastern ghouta crossing the frontlines is always dangerous so it's best done when there's a safe window with the agreement of both believe the syrian government.