lol. this is poem bus broadcasting around the world from right here in washington d.c. three blocks from the white house i'm bart chilton. coming up we'll talk about where companies should be advertising in the digital age with michael dell here the c.e.o. of conversion high point and jeffrey tucker is back to talk crypto currencies plus after the break we continue the crypto conversation on crypto currency exchanges with former c.s. we exchange executive or silly s.-t. and alex behala bit helps us understand how one of the world's largest aluminum producers located in russia could become exempt from the u.s. sanctions on russia all that's coming up but first we had some headlines. a widely

anticipated apple first quarter earnings statement is out and it beat expectations even as i phone sales failed to take off revenue came in at sixty one point one billion dollars and the figures sparked a five percent after the bell rally in the price of apple stock still apple's i phone sales at fifty two point two million fell below expectations of fifty three million but the company's official statement still struck a bullish tone on the latest most expensive model the i phone x. . and in the energy sector british petroleum has posted an impressive seventy one percent increase in profits for the first quarter and twenty eight teen writing the tide of rising oil prices profits were around two point five six billion dollars be the expectations closer to the two point two billion level b.p. c.f.o. brian gold very said the numbers showed underlying production growth the oil giant profits were however suppressed by

a one point six billion dollars in. payments on toll on a total of sixty five billion dollars in penalties related to b.p.'s role in the deepwater horizon oil spill disaster in the gulf of mexico the largest marine oil spill in history deepwater horizon penalty payments for the year expected to total three billion dollars and the eighth anniversary of that deepwater horizon disaster just passed on april twentieth. and turning to corporate personnel news the chief executive that document technology companies xerox is now pursuing other opportunities that are parcher of c.e.o. jeff jacobson and six xerox board members as a consequence of a fight within the company over the attempted takeover of fujifilm activist shareholders carl icahn and darwin decent prominently oppose the deal claiming xerox was being undervalued and want to court ruling last week that delayed the deal the judge's decision also made the key findings that c.e.o.

jacobson was quote hopelessly conflicted by trying to a range of merger that would include jacob as the new c.e.o. of the company when he was expected to be replaced by zero axis board sounds like some double dealing there to me and meanwhile the board chairman of global british bank barclays john mcfarlane tried to tamp down rumors and reports of his imminent departure telling the bags annual general meeting that the speculation is quote somewhat premature that's not exactly a denial right macfarlane recalls his plan when he was elected to the board chairs to serve four years ago when he noted that he would only be there for four years and it's been three so far macfarlane also endorsed a c.e.o. just daily as his successor a notable show of support while staley is actually under investigation for alleged attempt to identify a corporate whistleblower. and

here to talk about the business of advertising and markets is michael dell pierre the co-founder and c.e.o. of conversion pipeline michael thank you so much for being with us really appreciate you making the trip so i'm an advertiser i call conversion pipeline and i say michael what's the best way to advertise in today's day and age in terms of digital advertising google and facebook in that order and is facebook sort of the be all end all because they have those detailed analytics the tell you about where they are in everything as opposed to google which i guess just tells you where searches are as it was the main differences primarily but if you look at google google conducts three point five billion searches per day facebook on the other hand has over two billion users a day in each user on average spends at least thirty five minutes on facebook the

biggest benefit that facebook has is that they know everything about you where you went to school where you're physically located what you'd like where you go to eat how many people you have in your family they know everything and because of that that's valuable advertising data now it's valuable absolutely everybody would agree with that but it's also turned out to be a little bit of their kill it he'll with regard to the cambridge analytic a scandal and i'm sort of selling this data that people didn't know would actually be be used what about that are their responsibilities that you think facebook or some other player not that there's really one that's akin to facebook that they're responsible as they should have and other responsibilities for advertisers who place ads on facebook. i think facebook does have the lion's share to blame here but when you sign up for these accounts there's the legal ease the fine print no one ever reads those and somewhere along those lines you are releasing them of any liability in case they do share your data with other users safety with google no

one talks about google guess what you're being tracked on google everywhere you go and it's most people know when you sign up for the social media platforms is that you're going to be tracked because they make their money through advertising yet the as a former regulator you know i've often said that it's time for people to go back and look at these disclosures because like up a mortgage for example you get thirteen pages of disclosures and i'm not sure anybody really reads all right fine print so they should probably get rid of a lot of that stuff and. the bottom line is if you are going to use facebook or some of these other services you're going to have to agree so it's not like you're going to say could you amend your disclosure statement and change this and not track me not going to happen by and large let me take a half a step back michel and go back to the looking at the advertising dollars of digital versus the advertising dollars spent on a t.v. and radio etc we all know that digital is taking up this

a big share of this going forward but is t.v. really losing a lot or are they just sort of staying level t.v. is actually losing advertising dollars and they've been on a downward slope for quite some time as an all t.v. or is it just the just cable that we know people but losing cable is everybody in t.v. people consume data a lot differently now if you think about it you'll see people watching a t.v. show on their mobile phone they're not physically in front of the t.v. they may be streaming services like hulu right now you don't have to own a t.v. to watch cable network t.v. shows and a lot of these you can skip through the advertisements so if if you're maybe going out ten years is there no. retirement saw on t.v. did they go back to the day when it really when that the first cable was really free to people right that you bought cable because you didn't have advertisements in a weird way could we be going into a time machine and going back that way i think everybody right now is

a crunch for content everybody wants to own a content because if you have that content you can charge the advertising dollars t.v. is always going to be around in some shape or form that's never going to go away and we think about having that n.f.l. watching party at your house no one's going to sit in front of their monitor and want to see the football game right there to watch of i.t.v. it still gets a lot of eyeballs but i think of the course of time it's going to evolve and grow and the t.v. the cable providers have to grow with it if they want to keep the advertising dollars i'm going to ask you one final question and it may be a little bit. weird so if you're if you're advertising online on google or at or at facebook an advertiser in the ideas you want to get a click right you want the conspiracy customer to get a click that doesn't always mean that that advertiser can perform the service because they're out there in the u.s. or globally so i've had a couple of personal circumstances where i've ordered something put in the credit card information all this stuff and then i got notice

a couple hours later sorry we're refunding your your money in a week and we can't do the service isn't there some sort of responsibility on behalf of the advertisers to ensure that they can actually perform what they are proposing to do all advertisers have a form of fraud regulation they know that there's there's bad actors out there trying to alert people to want to buy something and give it their credit card go to a phishing website and they have fairly good controls in place right now but don't be surprised that it does happen but i would imagine the way we are today is ten times better than where we were even five years ago regarding that and another five years will even be better right one hundred percent michael duffy here thank you so much for being with us i appreciate it conversion pipeline thank you sir thank you . and now we shift gears and on to crypto currencies regulators are weighing if they should treat kryptos as securities to date bitcoin and other kryptos have largely

escaped rigorous regulation but that could be changing today we talk first about the currencies and then we'll talk about the exchanges after the break and to help us on the currency we are again joined by jeffrey tucker of the editorial director of the american institute for economic research jeffrey thank you for being with us again we always appreciated the boom busters out there all know you don't care one lick for regulation and i agree that regulation can be stifling import innovation but do you think there's any way that kryptos will avoid being regulated as we go forward. i think they're going to avoid it more than you think i mean you look at this i've had i've had people tell me for five years oh government's going to get rid of it you know we're all doomed you know that hasn't happened yet i think i think part of the problem is the regulators don't entirely understand it and they do have a sense that they could actually cause more harm than good and that does seem to be anything you know i think last time i was with you bar we talked a little bit about the new york case that was the regulations were

a complete mess and i don't think anybody wants to do that this this time around so yeah i think there's going to be some very late expected to be a little the light hey listen let me just say this is it not fun again encrypt the land part i mean when i was sent over the winter is over right is i mean i know this i know that because you know or not i got something like twenty five hundred tweets you know at the twin towers or back you know and a lot of this illiterate back to jeffrey we were going to do we're going to do a story the other day about there was that big move maybe two three days ago and so the headline was going to be you know we had this big movement kryptos and then as we wrote it we said well what's the price now well we did bounced right back so like you say it's sort of more of the same so speaking of it regularly is great we're go ahead go ahead we're almost we're almost half a trillion dollars now again in market cap so you know it feels like it feels like the fall again you know last fall to the it's

a guideline dollar that is not his that it is six protégé let me ask you so we talk about you know not regulating are there you know i've seen this before i saw this in the wake of dodd frank where some countries would try to have the thinnest rule book so they could maybe attract business and and you did i do recall your conversation about new york putting out their rags and them losing business is are there countries out there now that you think are maybe attracting you know crypto i know crip those out in cyberspace but a. attracting crypto related businesses by having finneran rulebooks yeah the exchange exchanges right that's what that's what you want you want two things you want to exchanges to come to you and you want to start ups that are willing to of float tokens to fund the fund their operations and other kind of blocks and enterprises so switzerland of course as you might expect has been very liberal on

regulation but here in the united states wyoming this past summer like seven pieces of legislation everybody in the u.s. now not a federal level but the state level you've got a lot of people talking about how they want their state to be the crypto capital of the world i think it's really exciting i was speaking in mexico few months ago and i i told them that they could surpass the u.s. g.d.p. if they had the right regulation i'm very interested in that they're interested in that they want to see the look on valentine's face. to your right about switzerland i notice that four of the ten largest i c o's last year were in switzerland and you may have seen a guest on the program or gutfeld mightier the big queen queen of switzerland we've had on the program and she talks about really trying to build a hub there let me ask you this before we go what do you see in the near term on prices we've talked about how crazy they are but you think we really are back to where we were last fall or look at bitcoin at near twenty. well you know i never

give investment advice or speak for the american is terrific and i'm a real but he's lightening i must say ratchet as a technology as you know i'm i'm super bullish on this technology i don't know about i mean big point dominance is down to thirty six percent i see now online the maximalist there are screaming you know about about this i think it's ridiculous i think we need to get used to choice and currency we've got to think about kryptos being part of the future in every kind of technology not just monetary technology but in finance and law and everything i think is a beautiful sector and it's tremendously exciting to watch i must say i could not agree with you more and you make it more exciting jeffrey tucker the editorial director of the american institute for economic research thanks jeffrey pre-shared a pleasure but good to see bart all right. and time now for a brief pause for the promotional cause but hang here because when we return we'll continue the crypto conversation this time with

a focus on crypto currency exchanges with former cease we see street exchange executives for still yes he'll join us plus we'll sell one of the world's largest old woman of producers located in russia could be exempt from u.s. sanctions on russia our correspondent allan. help us understand how that could occur there and here are the numbers at the closing bell back in a flash. join me every first week on the alex salmond show and i'll be speaking to us from the

world of politics sports business i'm showbusiness i'll see you then. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race based on often scaring dramatic development only personally i'm going to resist i don't see how that strategy will be successful very critical time to sit down and talk. to the financial survival jot that it was all about money laundering first to visit this cash industry different. oh good this is a good start well we have our three banks all set up here maybe something in europe something in america something overseas in the cayman islands or the room full of these banks are complicit in their tough talk received a softer didn't call and say hey i'm ready to do some serious muhlenberg ok let's

see how we did while we've got home got a nice laundry watch for max and for stacy oh beautiful jewelry how about a couple of home luxury automobile for max you know what money laundering is highly illegal don't be a close watch guys record. welcome back agribusiness giant archer daniels midland corporation or a.t.m. the supermarket to the world has posted first quarter profits and twenty eight teams of three hundred ninety three million dollars that's up three hundred thirty nine million in q one from the your year to twenty seven team total revenue grew by more than half a billion dollars versus q one of twenty seventeen topping fifteen point five billion a.d.m. starches and sweeteners operations were a notable boon to the bottom line in light of plans to acquire camp tore

a french manufacturer of wheat based sweeteners a twenty million dollar rebate also related to bio diesel added to their profits and while poor harvest have hit soybean producers that has boosted the bottom line for some processors including a.d.m. a.d.m. c.e.o. said quote we could see oil seeds achieve north of one billion dollars operating profits in twenty eight teen there was no mention on the conference call with investors of the impact that the trade war with china could have on soybean experts which would surely impact a.d.m. the u.s. accounts for more than twenty three billion dollars worth of global soybean exports a lot of those by eighty m. the most of any nation. and catching up with the land down under australia is housing market seems to be cooling but it may be coming in for a soft landing market watchers at core logic said in a recent report that hot markets in the cities of adelaide melbourne and sydney saw

small declines in prices which were offset by price increases in more affordable housing markets market research firm demographic rates all five of australia's major housing markets as severely fund affordable and that and that includes sydney which is actually the second most least the fore. nable country or city rather in the world behind hong kong and cooling the hot housing market has been a challenge for australian policy makers over the years and aussie tax authorities are investigating u.k. based health care provider book over a twenty sixteen and twenty seventeen tax returns bloop is reportedly suspected of manipulating loans while units of the not for profit company to improperly reduce its tax burden the tax justice network in australia said in a report that and other large health care providers that are effectively subsidized by the government are using quote unquote aggressive tax avoidance strategy i'll give you the regulatory translation probably breaking the law and now we continue

our conversation on crypto is here to focus on crypto currency exchanges is form a c. suite executive board c. suite is a lot to say you're you're sweet and you're sweet as you are ways i thank you for being here boris so tell us about these crypto exchanges all over the world we've got some here some in ages some in europe where the biggest ones which ones are people using the most well the biggest ones tend to be in asia and one of the things you have to differentiate is between specific exchanges the trade the main major crypto currencies like a theory and bitcoin and like coin and also the all coins by nantz for example a very large exchange based in asia where many of those exchanges are but the us is quite significant as well and i know we've talked in the past about asia they had we go back to two thousand and fourteen with mt gox which was a large pack sport of seventy five million dollars that were stolen out of

customers digital wallets some of that was returned that was again for seventy five million and then this year in the first two months of twenty eight we saw hacking at two exchanges including checkpoint check in japan i forget the other but of seven hundred million dollars interestingly quine check i still haven't figured. it's out i guess i'll ask you if you figured out how the heck did they pay people back they didn't get everything back but they got the current value of what they had invested minus two months of dropping prices what about that so it's a pretty amazing case because they actually paid back well over four hundred million dollars worth of their currency before then being bought by mon x. the big brokerage firm in japan that also owns trade station here in the u.s. well i didn't know that ok but i don't think anyone's really figured it out other than the announcement recently that they did apparently make over a half a billion dollars in revenue last year which allowed them to pay back but it

doesn't explain why mon x. paid less than fifty million dollars to acquire the company so that remains a little bit of a mystery yeah in my former role that would there would be more conversations about that put it that way let's shift back to the u.s. i know a one of the large ones is a coin base one of the other want large ones in the u.s. at large to be crypto currency exchanges right so you have coin base which operates backs another well known one but not quite so big is the one called vaastu unsponsored gemini exchange right but the other large one is crack and based on the west coast as well as bit tracks big trucks in particular is known for all coins and what's been interesting in the news recently is the action from the new york attorney general who sent out a questionnaire with some very interesting responses from those exchanges yet the with the wiggle by amaze me when i know you probably heard earlier we speak with jeffrey tucker they're trying to it's to start one of these s.r.o. as the self-regulatory organizations organization i think so that they wouldn't

have government regulation but they do their own regulation i think they call it the virtual currency association right there that's about right yeah ok so but we also have seen some a questionnaire recently in new york that had gone out and as jeffrey was talking about earlier. when they put some regulations in place before some businesses left you think that's going to happen again i think it might and it certainly created quite the explosion of response from jesse powell who is the co-founder and c.e.o. of the crack and exchange but you know anyone who's been in the exchange space or the regulatory space like you and i we've seen these questionnaires before they're not that big of a deal they're a lot less scary than you think and the reaction from some of the other exchanges it's been a lot more agreeable including the gemini exchange as well as coinbase i think people that haven't been involved in this sort of stuff they see a questionnaire from the government and they freak out people that have been like you have the international security exchange and not all exchanges have this

experience you know put the compliance guy on it get it done when can you get it done all those you have to do what you have to do have to now and we also saw a coin base being asked by the i.r.s. last year about getting the names of their investors you do have to pay taxes on the profits you made on crypto and we boars only estie we thank you again for being here appreciate you being in studio pleasure to be here blanc so much see a next time. to sell the largest second largest aluminum company in the world located in russia could be catching a break from the trumpet ministration the aluminum industry giant which has been hit hard by u.s. sanctions has been given an additional month to change its ownership structure which in turn may greatly reduce the restrictions on the firm artie's alex mahela bij joins us from toronto with the latest alex thank you for you and you're so

great it filling us in on all these myriad issues but we're talking about easing restrictions now on this russian company that by the way i think they were about to be delisted from stock exchange in london so it's a huge deal but we're hearing some news from the treasury department what's the latest. now the company that was going to list it is and plus actually and that is one of the major shareholders like a mother company of rue saul and steve said the u.s. secretary of the treasury secretary this is not about rue solve this is not about destroying a company and making it go under this is about a very different aspect of that and that's ownership in rizal and particularly we're talking about the russian billionaire oleg deripaska i know there are a pos got is been on the u.s. list of people that the u.s. wants to sanction and he has tons of shares major ownership in roussel so this is what's happening here this is actually the person that they're targeting not the company itself now the united states has said in the past that it would consider

pulling back with the sanctions if there are just basically put holdings of the company down and got off the board and right now minutia is saying that this is actually moving forward they've had a conversation with the billionaire there they say that there is potential that moving forward they're seeing the actions that they're asking to be done and that russo all is a company now that instead of having a deadline that was supposed to be may seventh they've pushed this deadline for devaluation just basically looking at the company evaluations and correct word but for looking at the company and seeing the ownership structure of the company they've pushed it back to june now june sixth so this is actually a big move considering that when you look at russia and just how stringent sanctions are against russia from the us and just how they've been brawling out rolling out rowley oh this is actually a step in the other direction frankly just because as we said they're not looking at destroying the second biggest aluminum maker in the world because that could

cause trouble for everyone it's just so weird alex when you think about it i mean you know we're talking about facebook a lot lately right and the treasury department say that facebook won't have regulation if mark zuckerberg believes and i'm not making a total analogy between and oligarchy leaving roussel. but it's just such a weird thing we're not used to hearing these sorts of conversations and even german chancellor merkel is concerned about the impact on german companies of u.s. sanctions so a lot of these things are interrelated aren't they well that's exactly the point here the interrelationship because we're talking about an international structure and we're talking about the second biggest aluminum provider in the world that's eight percent of all aluminum that we see coming out china's number one one of their companies so russo was number one until the chinese company kicked it out that lester bumped it down i should say but again eight percent when you're looking at eight percent of a commodity being taken off the market that's huge especially

a commodity like aluminum that everybody uses so other the u.s. and then the u.s. treasury secretary is very well aware of this this is not about destabilizing an industry this is not about destroying a company it's about hitting and what to say what the americans are calling a russian all of dark and again is what you mentioned you know step back for a second they still got to play ball playing ball is a big thing especially when you look at something that's so tied internationally absolutely we appreciate you following this story r.t. correspondents alex hyla bitch thank you as always and thanks to all of you for watching all you great boom busters out there be sure to catch boom bust on you tube you took that com slash boom bust r.t. will see it tomorrow. rice perceives news. service prices you end up with

a. seller here when you have the good listener markets in there if you have interest rates at zero and you can borrow money at zero percent on the unlimited credit line and you can muscle prices around it will decrease fake prices and then if you have a robust reporting on stake. crisis on the financial media as for instance that the robots are going to report on the fake crisis driven by the fake news created by robots and you have a virtual or a not so virtual cycle of fake news and fake prices and then that people interpret that as reality. palm oil is one of the most controversial products about sun it's a solid vegetable fact that's very cheap. twenty seventeen production grew to sixty three million tons that rapid growth in international demand for cheap oil has led

to the massive expansion the palm oil plantations which is the destruction of rain forest. it indeed easier alone more than ten million hiked as of unique rain forest has been destroyed and it's a process that just keeps going. visit to the u.s. state department for the first time to swear in former cia director mike pompei o as the country's new top diplomat. so they're trying to bamboozle the entire ruled in on. the president trying to slow down on and off without the israeli prime minister urges the u.s. to abandon the.