something like twenty five hundred tweets you know and the twin towers are back and a lot of the back to jeffrey we're going to do we're going to do a story the other day about there is 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 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 eight hundred dollars it is not his that it. was a 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 crowd attracting crypto related businesses i haven't been a real books yeah the exchange exchanges right that's what that's what you want you want to think you want to exchanges to come to you and you want to start ups that are willing to of flow tokens to function on 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. not at the 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 told them that they can suppress the u.s. g.d.p. if they have the right. i'm very interested in that they're interested in that they

want to see the look on downtown space. 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 all gutfeld mitered the big queen queen of switzerland that we've had on the program and as 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 would hope he's lightening i must say ratchet as a technology as you know i'm i'm super bowl wish on this technology i don't know about i mean big point dominance is down to thirty six percent i see now online but quite 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 policy 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 geoffrey pre-shared a pleasure by a good to see bart all right. and time now for a brief pause for the promotional calls but hang here because when we return we'll continue the conversation this time with a focus on crypto currency exchanges with former cease we see street exchange executives for still yes he will 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 hyla bitch help us understand how that could have and here are the numbers at the closing bell back in a flash. join

me every thursday on the alec simon chill and i'll be speaking to guests of the world of politics or business i'm show business i'll see you then. a little too late so you think that i'm outside this time when the truth is that i know that i just didn't mind. when i left that i sat next to him and i think a lot of those made. it was you know those are just

a lot of these really. slow. down and. you know. the least. he. was in the to. have a difficult time. and these years or maybe he did i don't. know how shame. is going to come it will be an admission from the. future.

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 team of three hundred ninety three million dollars that's up three hundred thirty nine million in q one from the your year of twenty seventeen total revenue grew by more than half a billion dollars versus q one a twenty seventeen topping fifteen point five billion a.t.m. starches and sweeteners operations were a notable boon to the bottom line in light of plans to acquire camped. or 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 of hits toibin 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 and twenty eight team 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 demographics rates all five of australia's major housing markets as severely un affordable and that and that includes sydney which is actually the second most least affordable 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 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 former ceased we executive board b. 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 bit going specific exchanges the trade the main major crypto currencies like a theory and between and like point and also the all coins by nantz for example a very large exchange based in asia where many of those exchanges are but the u.s. 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 eighteen we saw hacking it to exchanges including checkpoint check in japan i forget the other but of seven hundred million dollars interestingly a quine check i still haven't figured this 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 moan x. paid less than fifth. the 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 us 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 cripple 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 wit 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. is 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's 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 in exchange but you know anyone who's been in the exchange space within 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 at the international security exchange and nodal exchange. asia 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 do 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 iliescu we thank you again for being here appreciate you being in studio pleasure to be here but thank you much see you 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 which joins us from toronto with the latest alex thank you for you and you're so great at that 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 the 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 because 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 his 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 valuations the 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 really all 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.