besides oregon delaware and montana as well as the other three states that were exempt this basically means that individual states now are going to decide whether or not to legalize sports gambling and a lot of them are hoping to solve their budget problems because of all the revenue it's going to bring bring in to the state and a research firm actually stated that within five years they expect thirty two states to legalize sports hall my gosh yeah well i mean the states have had so many budget problems in part because the federal government hasn't been giving as much back to the states and we see it with the lotteries which aren't i guess quote unquote gambling but when you look at which states are sort of the states are poised to have the biggest economic and business impact from this over turning the bradley law which states are those well we had six states already have that have it in acted legislature legislation for once this ban was lifted were well for what it will be lifted new jersey was the main one in new york connecticut west virginia pennsylvania and mississippi i think those states are going to benefit the most at

first and then more to come obviously new jersey has spent millions of dollars and years fighting to legalize sports gambling so mainly from their atlantic city casinos you know they're hoping it will revive that they can add sports going to gambling to they're already gambling casinos. and it also is said to bring in an estimated twenty six billion u.s. gross domestic profit and one hundred fifty two thousand new jobs will take all the jobs we can get and so the states that are already up and running like new jersey connecticut at mohegan sun new york those states are standing a profit but everybody else will get into the act steve thank you so much really appreciate you being here expert. and on the trade front u.s. president donald trump took to twitter to defend jobs lost in china not to china but in china on sunday mr trump tweeted president g. and i were working to help the second largest chinese electronics companies e.t.e.

get back in business fast last month the u.s. commerce department barred z.t. ease access to u.s. suppliers over alleged violation of sanctions against iran and north korea leading the smartphone maker to put a halt to major operating activities mr trump mimicking larry the cable guy tweeted that he had ordered his commerce department to get it done get er done which presumably means the administration will rescind the z t e export ban mr trump seems eager to ease trade tensions with china after months of provocations especially in the context of his upcoming summit with north korean leader kim jong kim has been meeting regularly with chinese the chinese a key allies ahead of the summit a bipartisan chorus of critics including former g.o.p. primary rival senator marco rubio of florida and u.s. senator chuck schumer of new york the leader of the senate democrats panned the president's attempt at economic diplomacy. the price of bitcoin has fallen

again hitting a three week low over the weekend and trading at around eighty two hundred dollars which is sixteen percent below the recent high of ninety nine ninety but bit quantised volatile and today seems back in the saddle again and riding high on some price progress to eighty seven fifty one in midday trading crypto markets continue to respond to issues related to potential regulation by governments including last week's raid by the south korean government of up bit in connection with money laundering and know your customer requirements up bit is south korea's largest crypto currency exchange. and as we were wont to do we get to talk about kryptos today and this time as they used to say on money python just google it guys for something completely different on kryptos in that vein we head to london where we're joined by thomas hoffman the

c.e.o. of conies is limited thomas thanks for joining us you've got a lot of great experience in an investment funds in the best of funds arena specifically in gold and i was really intrigued to learn about kony cis which is a crypto based upon gold for years i've been saying that for a long term a crypto should be based upon something real you can touch and feel and you're one of them out there tell us about kony says. sure so what we've done it in a service with developed a fair and honest monetary system actually which is designed to be efficient secure and rewarding for the benefit of war both individually and collectively. it's a system that revolves around movement hence the name can a service so what we've tried to do is actually still stimulate the velocity of money to actually serve what money is supposed to serve which is the commerce of

the world and the best way to do that we really looked at what makes money successful and what makes money successful is it being a secure store of value so the best store of value that the world's ever same is actually gold we also have silver currencies as well there are primary currencies. but also an efficient medium of exchange so that's what we've done through the block in and through other infrastructure interfacing into the banking systems and debit cards and that sort of thing but also we've added this third dimension which is the rewarding element and we reward people who participate in the system both individually but also collectively so individuals are rewarded and businesses are rewarded through their performance in the system but also everyone is rewarded through. the collective success of the system as well to promote people working together and promote the overall i guess economic growth of the system let me ask you thomas so if you're essentially think can eat this will serve as

a stable coin for those of us or follow that crypto space tether is sort of one of the stable coins out there although there are some potential pitfalls with that but who will use in in addition to just individual investors who will use conies this as sort of a stable coin and for what purpose will they use it. well ultimately anyone can use it but i mean it serves commerce it serves businesses very well in fact it actually a main draw as it. provides a whole new revenue line for businesses effectively so yes we are a stable coin. you know one for one boy gold or silver initially but when i say back to it's actually it's divisible allocated tonsil of gold and silver so. thomas how would you keep that balance between the actual price of gold yannick

a nice token. will will ultimately the the the money in the system the monetary buys is it's increased or decreased by sickly through demand and supply in there cannot be more money than in the system and what there is gold and you know the process will be balanced just simply through the fact that well it's ultimately the gold cross and if that dislocates from other of the gold markets around the world then you know arbitrage exists an arbitrage traders can come in and and utilize those process and differentials so i mean way have. i come out of the company allocated billion exchange of which i'm the c.e.o. of as well we have a whole sell billion exchange for gold and silver for physical gold silver all around the world and from from this like wholesale physical marketplace.

has been born from and from out same and so we're interfacing these two markets together and these are large markets that will be x. is a large market that has really brought consists into into existence and so the physical market its interface into the canapes the system and the process will be very very similar you might see some you know pricing differentials at different points in time but ultimately it should be the physical process of gold which will actually be taken a service monetary process right where you always have that which is i think the problem in general with some crap those are based upon nothing others and supply and demand of nothing anyway we hope you'll come back thomas at thomas kaplan the c.e.o. of conies is limited thank you so much for your time. thank you very much for being back. and time now for a quick break but hang in here because when we return the senate there's an impending nafta deadline this week alex was hyla but joins us with an urgent update

plus she's back yeah the car coach lauren fix helps us work through a cavalcade of pardon news and as we go to break here are the numbers of the closing bell bitcoin bouncing back after a big drop earlier in the day never a boring investing day in the crypto field will be right back. to what we've got to do is identify the threats that we have it's crazy foundation let it be an arms race is often spearing dramatic development only closely i'm going to exist i don't see how that strategy will be successful very critical time time to sit down and talk.

with lawmakers manufacture come sentenced to public will. when the ruling classes protect themselves. with the final clearing go round the sun be the one percent. we can all middle of the room sick. leave room. for all twenty eighteen coverage we've signed one of the greatest goal people. but there was one more question and by the way it's going to be our coach. guys i know you on the us he's

a huge star among us and the huge amount of pressure you have to the center of the shuttle with you and the great. you are the rock at the back nobody gets past you we need you to get down going let's go. alone and just i want to you know and i'm really happy to join the team for the two thousand and ten world cup in russia. this special one come on both appreciate me to just say to review the team's latest edition to make up this week i need to just say.

welcome back the markets have reacted to president trump's announced policy blueprint on bringing down prescription drug prices and they don't seem very concerned we told you last week that mr trump the bandon the promise that drug companies feared most that is to allow medicare to negotiate lower prescription drug prices according to craig garthwaite of northwestern university the proposal was quote quite underwhelming on the flipside the president did promise action against pharmacy benefit managers or p b m's who are derived. i did as person who had to write it as parasitic middlemen p.b.m. for third party administrators for drug plans under private insurance who are expected to create a fission sees in the system and sometimes get kickbacks for successful price

negotiations leading some to question the role of p.b.s. but big pharma companies are heaving a sigh of relief that mr trump did not make good on his promise and their profits will soon show it already stock prices for express scripts and c.v.s. two of the nation's biggest players in the p.b.s. were up two percent after mr trump's speech on friday united health which owns the nation's third largest p.b.m. said they welcome the trump plan and other drug and biotech stocks rose after the president's announcements according to wall street journal and an analyst from stanford c. bernstein and company said the proposal confirms that quote the administration was and will remain very pro pharma in. the face of the japanese shipping industry is changing as the three largest carriers are merging in to a bid to secure a market position against regional and global rivals the n y k line k. line and mitsui o.s.k.

lines began joint operations late last month as the ocean network express or one effectively creating the six largest shipping operator with seven percent of global market share mitsui is the de facto leader of the new formation the shipping industry has been consolidating for years across the board in recent years there's been a glut of low prices and in the past three years twenty of the biggest shipping or operators have consolidated to just seven companies. and checking back in on a story reported last week the c.e.o. of air france k l m will be pursuing other two opportunities sometime this week the executive had staked his position on the outcome of a worker vote on a previously or jetted pay proposal the predictable second rejection leaves air france and the government of france. to try and steer the company out of a worker's dreich and slow down action that is believed to be costing the company twenty five million euros every single day it goes on the french state owns

a fourteen percent financial stake in the airline and twenty three percent of corporate voting rights and president manual mccrone has made disappointing labor with lower wages less job security and austerity budgets a priority of his presidency with the crisis on their minds air france's board will meet this week to choose a new c.e.o. . and unofficial deadline to the nafta negotiations is looming as the latest round of talks continue to leave a number of issues on resolved artie's alex will hyla bitch has the latest alex thank you for being with us why the rush to get this done is this about speaker paul ryan last week saying something about fast track what's the status. it's completely about speaker paul ryan he's the one that's got his knickers in a knot if you think of it that way like he wants this push through by may the seventeenth he says he wants congress to vote on this year and may seventeenth is

the deadline in his head now some analysts are saying really may seventeenth is not necessarily the date if we get into well into june and things should be ok paul ryan i think he's you're really sounding the alarm he wants things done a a.p. and something that you mentioned that fast track that that's a part of the whole trade promotion authority it's something that has had a few different names over the decades it is about fast tracking things through congress and it particularly deals with trade so it gives the administration a set period of time to push a trade agreement through congress and it also has a notification period now that notification periods a bit of a pause so people in congress can actually look at what the agreements like and also for public consultation but any way you turn it they want to push forward the talk of the clock is taking that that's a for sure thing and also don't forget november sixth is when we have that vote coming in the election so that the midterm elections they'd like to get it done

while the republicans are holding everything you know in government and they don't want to risk that they really want to push this through also from the mexican standpoint and they're having an election as well so having the nafta deal in place would be good for both the american side and the mexican side for those reasons it just looks good for the government yeah the mexicans have their election coming up maybe july first but i think it's in july if not if not the first so alex what are some of the key issues that the parties have not been able to agree upon so far. that's one of it one of the key issues here and this is an important one is the investor state dispute system now that is a part of nafta as it stands in the way that you have to look at this is that private companies and investors can sue nafta states if they feel that the nafta country is not following the rules of the canadians really like this and they'd like to push it through a little bit of resistance from the states on that it's something that's being negotiated at this time as well as dairy dairies

a big one and that's kind of canada's fault canada has pretty strict rules of what they allow in the tariffs and also just the regulations here a little bit different than in the states so the americans they want a bit better opportunity to be able to sell dairy in canada so they want some of these rules to be loosened a little bit the tariffs drop so that they can actually enter the canadian market and the big one this one that we've talked about many many times that would be the auto industry as you know the auto industry is integrated very tightly between canada mexico and the states and the americans have a couple of points what they want to see pushed through here now here in particular is one sticking point that canada and mexico are really kind of against is that the u.s. wants to increase the percentage of car parts that must be produced in nafta countries and for that car to be shipped across borders without facing taxes now mexico and canada do not want to have any part of this they think that this is the percentages are way too high for the parts being manufactured in north america as well as the

fact that they're saying in the end consumers will end up paying hundreds if not thousands of dollars more for vehicles and they want to mitigate that from happening also finally the u.s. also wants forty five percent of it for cars and forty four percent for pickup trucks to be produced by higher wage workers so they want to see workers actually getting more money and mexico is pushing back on this they're saying how about we keep it around twenty percent instead of that high number so that's what we're looking at when it comes to nafta at this point we appreciate you following this really important issue at the port for canada or mexico. o. m. for the united states are to correspondent alex mile of h. thank you as always thank you. and for the hour on this we're joined by lauren fix the car coach in the new president of the north american car truck and utility award of the year lauren there's so much to cover in what seems like just

a cavalcade of car news but let's start where alex left off on nafta on friday president trump met with auto industry executives and explained the u.s. trading prison that at least seventy five percent of north american content will be required for cars crossing the border between mexico and canada that's down from an earlier proposal of eighty five percent but the current nafta rules require sixty two point nine to sixty two point five percent rather these are rules of origin rates they call them where do you see this ending up lauren. well i think there's going to be a happy medium somewhere obviously president trump's goal when he brought in all the automakers the c.e.o.'s he had everyone there for mary barra literally every you know big player that was out there and they all thought they were going to talk about corporate average fuel economy but instead they talked about nafta and how he wants to bring more jobs back here it's good for the unions it's good for the nine unions it's good for suppliers because that all boost the economy so i i know at

some point there's going to be some sort of happy medium when this gets settled as we said earlier we don't know it would be nice was before the next term of elections but it looks like that what's going to happen is there will be some happy medium that will increase the current percentage which is too low and what's happening is a lot of products being built in china thailand singapore in the process come over here they take away jobs and there is no tariff so if they decide to continue building them in other countries there's going to be a penalty that could be as high as twenty five percent that's enough to make you build here in the u.s. absolutely thank you for that at the meeting on friday with the auto exacts it's reported that the companies really want the administration to do something which i think is going to be sort of odd for the trumpet ministration to weigh in on this battle between having to corporate average fuel economy standards to the national standard and then california and these other states that have joined california and actually having a higher mileage per gallon ratio i mean i don't understand how the car companies

could deal with this i understand why they don't want to have to make two different types of engines or types of cars but i don't know how the administration is going to thread this needle do you. well i kind of know they're going to do it first off scott pruitt's already going to go to battle with california and he's in charge of the e.p.a. he's going to tell california this is not the tail wagging the dog you're one state of fifty and you shouldn't be calling the rules for every other state now here in california we understand that you have clean air regulations have been in place since one thousand nine hundred two but they don't allow for you to call the shots for the automakers but right now automakers are making different variants of different cars for different areas of the country we just don't see that and it's not blatantly obvious but one thing that you're going to find very interesting is i think the automakers are sort of like a watermelon on the outside they're saying we're all about being green we're all about being green but that on the inside they're really about making money it's about you know about the read and making as much as they can so i think that this is going to be an interesting factor that although they're saying on the outside

it's all about being green and they want to have high fuel economy standards they've got shareholders they have to report to and those shareholders are demanding profits and that's really what capitalism is all about so it's going to be interesting but i think between california going to war with scott pruitt and what's going on with the corporate average fuel economy we are going to see change and like i said this if they end those carbon credits which he might do they end of e.v.a.'s because they want to will be selling as many as they are for not getting that seventy five hundred dollar tax credit we both write a bunch of opinion editorials lauren and i get the title for your next one the watermelon economy there you go you could take it from there lauren i want to show we're here is to the iran sanctions. and we know have been selling cars in iran for a long time they quit there in two thousand and twelve begin wrapping up in two thousand and fifteen with the iran nuclear agreement but now the u.s. is pulling out of course the e.u.

and china and russia aren't pulling out what are they going to do they get it's going to keep selling cars into iran but that may risk sanctions against peugeot when we know from the u.s. and that's very interesting because rick. no owns nissan and so they do sell cars here in the u.s. an across the globe were peugeot was just starting to come back into the u.s. so i think that they don't want to upset the u.s. government because if they are going to continue to sell to iran and to say i don't care what you're going to do they could stop some of their production here in the u.s. so i feeling that they're going to have to sit on their hands and wait to see what happens and maybe we'll be able to renegotiate this iran deal or who knows what'll happen there's a lot happening every single day and that's not really my expertise in politics but i will tell you when it comes to the auto industry it's about selling cars and that's the bottom line it's about the inside of a watermelon one more quick area we're going to shift all the way to asia china auto sales were up by twelve percent in april to eighty two thousand vehicles you know i have i don't look at these numbers like you do but it seems like a heck of a lot of vehicles in one quarter right well that their middle class is growing like

crazy people that never had money have the ability to purchase cars you actually have to wait in line to get your driver's license you may be able to afford a car but they're putting so many vehicles on the road each day and their cars don't go off their look we have a used car market they don't have one in china what they do is when you're done with a car you want to new one you give that car or sell that car to someone else within your family and it stays in use until it's gone so the only new cars are being sold so there's a lot of new vehicles being sold you're not seeing a used car market place in that this point even with the middle class growing there are going to be more car sales every single month than china is the number one market if you look at the mileage on my autos lauren you think that's what i do to i keep driving them to till they're gone lauren fix the car coach and the new president of the north american car truck utilities ward of the year thank you as always lauren take care thank you. and thank you all for watching that's it for

this time be sure to catch boom bust on you tube you tube dot com slash boom bust archie we'll see you next time. across europe municipalities are taking their water supply back from private companies to me to peep out the cells with simple song alone even some company else well they invite private companies to take over the utilities anybody tell us that all post. was she got she got booked but it was on the going to go by been this is . because i'm out. for you man but the left still brought up locals are ready to stand up for the basic human right of access to water it's about water but it's

also over much more and more it's about the hurt and the redistribution of. words. debt downwards do you want the. united states. to use in its tax on other countries. economic sanctions or are often just the beginning another thing you like to do is play some military pressure on the countries a talking about. and there has to be an effort to raise that country and the leader of that country. is a responsibility for the home. and we need to make rules for the rest. because

without us there would be. global war hawks selling you on the idea that dropping bombs brings can use the chicken hawks forcing you to fight the battles based on. the new socks for the tell you that will be gossip the public by file for the most important news today. off of advertising telling me you are not cool enough and wants to buy their product. all the hawks that we along with our audience will want. the politics in washington not been driven by the fossil fuel energy lobbyist they

could have gone into renewables ten twenty years earlier and those jobs would be in place generating good paying jobs in america would be part of a growing world beating industry but because they kowtow to those lobbyist they got stuck in the call business which it up liberated by the gas business which is a trillion dodgy for a lot of reasons and now it's going to be obliterated by the chinese led revolution in song. in twenty forty you know bloody revolution through to the demonstrations going to be relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it just always i mean your list put. in the bill is that i mean you split needle the former ukrainian president recalls the events of twenty four g. and. those who took. it invested over five billion dollars to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic. gongs

the israeli border is braced for more violence after fifty nine palestinians were killed during protests against the relocation of the u.s. embassy to jerusalem on monday. u.s. move sparks outcry across the globe with several world leaders and even some of israel's traditional allies expressing feel reus condemnation. and american soldiers subject themselves to waterboarding in support of the controversial nominee for the new head of the cia claiming that the brutal interrogation technique does not amount to torture. and with north and south korea's threat for top.