in the meantime the rest of the world is not waiting around for mr trump to decide how far he wants to take the fight on wednesday european union leaders and prime minister of japan signed a trade agreement that will scrap almost all terrorist between japan and the e.u. in a ceremony in tokyo the deal was agreed to last july and european commission president john claude juncker and european council president donald tusk joined japan's prime minister shinzo ave at the signing ceremony for a defacto display of international opposition to the u.s. positions on trade policy donald tusk also spoke at the conference and levelled his opinion on what the trade deal will mean politically. it's a lie in the increasing darkness of international politics. we are sending a clear message. that you can count on us we have predictable both japan and the you predicted the responsible and will continue defending

the based on rules on freedom transparency and commerce. it's also notable that the day before the signing the trade deal the two e.u. leaders met with chinese officials in beijing to talk trade. and we love talking about cryptocurrency is that there's always more than we can get to sort today we pick just the very best news stories that are top of our list for discussion to do so we are once again joined by crypto experts kristie are the tech trader phone and jeffrey talk of the editorial director of the american institute for economic research welcome to you both chrystia want to start with you about two weeks ago we spoke about the resistance level on bit coin trading in the mid six thousand dollar range but that level has been surpassed wiped out we see

the price of bitcoin up sixteen percent in the past seven days a lot of that last forty eight hours today it was trading at just north of seventy four hundred dollars what do you think's going on yes this is a really exciting time for decline right now last time we spoke because just trading under say sixty eight hundred and we said we needed a small little calloused to push it over this mid-term hurdle so we've certainly got that catalyst out this past few weeks we had a flux influx of really good news from decline first we have coined base claim they said they were adding an additional five new securities on to their platform these five securities could potentially include a.t.a.i. stellar x.l. and see cash z c. and zero x. c.r. x. so this is going to be huge for client base being making cryptocurrency easier for new players to buy into and then secondly we have the prestigious c.f.a. institute saying that they're going to be adding cryptocurrency and block chain topics to their curriculum not only is this going to bring legitimacy to the entire industry as

a whole but also it's going to bring mainstream knowledge to financial professionals and then finally we have black rock the six point three trillion dollar mammoth of the industry and they said they're putting together a research group sophists specifically designed to look at the implementation of block chain and technology in their current operations so this is absolutely huge news and we think that the next big news that's where all waiting to see is if the c.c. is going to approve the bitcoin e.t.f. that is going to be coming out we think that that's going to happen sometime in august jeffrey it's interesting you know we've talked about these fluctuations over over the last several months and but they do seem to move you know rather large i mean this isn't crude oil but you know it's a big deal if it goes from seventy to seventy four what do you make of it. you know there's huge fluctuations that it's and it's for everybody in the noobz in the sector there are alarm that shocks like how can you have a this volatile. you know it's a new technology and we're still in this massive price discovery phase and i think

it's been a very long cold winter and a lot of people are just ready for it to be over we survived it that's the important thing and now it there's a widespread perception that the technology has survived these are the main assets that are out there now and so there's an attempt to rally around them and say look you know the government's a room in the world with the trade policies everything's kind of screwed up maybe this is an island of safety the point of optimism something we should invest ourselves in for the future i notice guys that you know goldman sachs said some positive things about krypto which it actually didn't surprise me i've met with them in the past and i know that they're like been lurking back there saying some decent things behind the scenes but kristie not everybody is so positive on this and bear with us to our boom busters out there because this may seem a little bit like inside baseball but there was a here a hearing in the financial services committee in the house yesterday and brad sherman a democrat from congress from california rather said look we should ban crypt there

are a crock and but there's more to the story tell us about it yes so they harry yesterday it was called the future of money digital currency and it was overall a very positive note and there were no surprises on top brad sherman said he wanted to ban crypto currency trading and mine as a whole saying the only use for crypto currency was to facilitate drug trafficking money laundering and illicit financial activity so everybody was very shocked when we heard this so upon digging we found that the top contributor to mr sherman's campaign was a company called allied wallets wallets is a credit card payment processing company and they would be rendered obsolete if digital currency was truly the future of money so that they were very right to be. scared about this hearing and so with that everybody dug further into allied wallets and to our surprise and it was actually funny atlanta that if mr sherman was truly so concerned about money laundering and illicit illicit financial

transaction he should be very concerned with allied wallets because in two thousand and ten they were indicted and they forfeit about thirteen point three million dollars to the u.s. justice department for facilitating an illegal gambling activities oh my gosh well that is see i told all the ball busters that was worth waiting for it seemed like inside baseball but that was good stuff thank you kristie so definitely some seriously isn't it some great sleuthing right there you know that's great stuff you know i am not surprised that someone congressman says oh we should ban crip ban my mean though this is a country that once attempted to ban alcohol production and consumption let's never forget that we've got some crazy people in this country it's right. so but look it's absurd this is like banning math or banning algebra you know this is not a bannable activity and if you couldn't ban it if you're in london you couldn't bend it and you know no and what's more i mean it's correct i mean the federal

reserve's interest in this treasury department of interest of the every financial professionals to use this is a superior technology to existing payment systems we don't know exactly what the future is going to look like but the idea of getting rid of it is i don't know it's a maybe it's absurd as absurd as bringing back the steel industry to the united states well but now here's where and i know we diverge a little bit jeffrey here but so you can't get rid of it we agree there i think you could make it safer which brings me to hacks and we've seen so many hacks lately that now they're talking about insurance in the crypto space you know what about that what's going on there that ok so that's very interesting because because you know economists avoid wondered would they. such a thing as deposit insurance in a pure market rather than having been imposed on us by by the new deal back in the day right it's a it's a government program but would it exist in the real free market and i think probably the answer is yes that depends on the level of risk and anything isn't and

if there's a risk it's an insurer of all risk at some price right so we've got so much of the crypto asset sector now part of the exchanges which means that people don't own their private key as they should but they don't so that is uninsurable risk at some price and what that looks like of from an interest and will that become the industry norm i tend to doubt it but but it's an interesting experiment and it's going to be fascinating to watch of course if you own your own keys you're holding things and cold storage you know in your own private while the thoughts that's that's not really a risk to me because that really is real ownership and it's far less risky than for example the dollars in your own essentially on the other hand the exchanges yeah the exchanges are another another matter and more and more of the crypto spaces go into these exchanges because they're good at marketing it provides an easy on boarding off ordering for from dollars to crypto so i understand why this is

happening it's very disappointing for those of us who have been following this this technology for from for many years we always dreamed of a world in which everyone would control their own money and have their own bank and experience maximum security and liquidity that's not really panning out kristie we're about out of time but you agree with jeffrey absolutely yeah i think he's absolutely right that ideally we would all want to control our own wallets but until that we can easily transact with the real world with our own private wallets that that's not going to be able to happen we have to go to exchanges jeffrey talker the editorial director of the american institute for economic research and christy are you of the tech trader fund thanks to both guys appreciate it thank you pleasure. and changes in the air in the energy sector. as the toll of the biggest independent global oil trading firm is making a two hundred thirty million dollar investment in the european wind farms the toll deploy those financial resources on for specific projects via their v l c

renewables unit in a partnership with investment firm low carbon of london the deal's a sequel to last year's partnership between the two companies on two large scale battery development projects that at roughly two hundred billion dollars the vitola investments team leader predicted to reporters that quote by twenty twenty five almost twenty seven percent of european electricity will be generated from wind and solar with one hundred eighty billion dollars in revenue for twenty seventeen be told joins a growing list of corporations heavily invested in greenhouse gas generating fossil fuels who are switching their long term bets time now for a quick break but stick around because when we return are to the taj a sweet joins us from los angeles to discuss california's efforts related to a new privacy law plus a see your straw market report which joins us to look at the largest wind ever for google and we look at how health insurers are gobbling up your personal seats as we go to break are the numbers of the closing bell.

join me every week on the alex simon sure and i'll be speaking to guest of the world of politics small business i'm show business i'll see you then. when norm a gets manufactured consensus instead of public wealth. when the ruling classes protect themselves. when the final merry go round lifts only the one percent. nor middle of the room. is.

it hard to imagine decades after the war a nazi doctor was still active and rich in the nineteen seventies crittle had as the chair of its board a man convicted of mass murder and slavery at auschwitz a german company grown untold developed solidified a drug that was promoted as completely safe even during pregnancy and it turned out to have terrible side effects what has happened to my baby is anything but. you know she said is just cut short arms minix a little mind victims i have to this day received no compensation they never apologized for the suffering they're not only want the money i want the revenge.

welcome back and the global epidemic of extreme inequality is reaching new heights in australia where the compensation for corporate chief executive officer is hit a new record according to an investor trade group the australian council of superannuation investors or a.c.s.i. says in their annual report that median c.e.o. pay at the top two hundred companies of the australian stock exchange rose twelve

point four percent last year to roughly four point four million dollars each a c.s.i. survey also found that bonuses were up by eighteen percent a.c.s.i. chief executive said quote at a time when public trust in business is at a low ebb and wages growth is weak board decisions to pay large bonuses just for hitting budget targets rather than exceptional performance or are especially tone deaf this may be a sign that boards have lost sight of the link between a company's social license and the expectations and of communities and investors and we spoke with renowned author nomi prins on the question of rising c.e.o. pay in the states and here's part of what she had to say. so the other thing that we see happening with respect to just the bonus levels of executives that are running these major corporations running the banks and so forth is that because a lot of their compensation is made up of options on their own shares or their own

shares in some manner we're seeing these skyrocketing bonuses because there has been all this extra cash extra subsidies going into the system because money has been rendered so cheap and rates so cheap for so long by the federal reserve that the offshoot of that is that executives can pay themselves that much more in options in shares buy their own options buy their own shares you know in terms of using buyback strategies and so forth and that in turn elevates their bonuses and we'll have more from our interview with nomi prins the author of collusion how central bankers rigged the world on our next broadcast and now we shift to the west coast of the u.s. as another massive data breach has led california lawmakers to propose a privacy bill sweet as in los angeles with the details natasha. afternoon california voters spoke loud and clear it in online privacy initiative on the ballot alone lawmakers to craft

a bill and it's something that they hope the rest of the country will follow well the california consumers privacy act eighty three seventy five it passed unanimously to the state assembly and senate governor jerry brown signed it hours later and it goes into effect in two thousand and twenty the bill will enable californians the right to know what data is being collected to opt out of that collection and to hold companies liable for data breaches part. is what what what is on the ballot the same as what's going into effect i know there's a ballot initiative out there regarding privacy what's the distinction or the difference. right so there so there is a difference between the two so according to the initiative. that voters actually had the right to sue for any type of violation however the bill that lawmakers recently crafted that limits lawsuits only two data breaches part

and there's another massive nationwide data breach from exact this is that what's causing all the stir out there. exactly and that's what lawmakers that's what led lawmakers to craft this bill so it is believed to even be possibly bigger than equifax we still don't know exactly how big it is the exact number isn't yet known but the leak itself involves some three hundred forty million records and the fact is the web site claimed to have data on two hundred eighteen million individuals which includes one hundred ten million u.s. households and three point five billion consumer business and digital backers and the security researcher actually who discovered this leak part he mentioned that he looked for you know just random celebrities and also people that he knew and everyone that he searched for he was able to find on the exact this website oh my gosh that's crazy and scary stuff natasha so this sort of plays into that whole

thing and we're talking with phil record which is a little little bit about some of these privacy concerns but we all remember this facebook cambridge analytic deal where they had access to user profiles with without users consent and an even bigger one was from yahoo impacting a whopping three billion users and and there was also that equifax breach that you just referred to last september so this is a big deal that probably isn't going to end a nice time soon right atocha yeah that's right i mean you know the list just goes on and now we have polls coming out showing how people actually feel about their online privacy or lack thereof and according to the campaign for accountability nearly seventy seven percent of americans believe that the internet and big tech companies invade their privacy part it's crazy archie to talk to sweet thanks for time atocha thank you so much. and the european union and i trust regulators have hit google with

a record five point one billion dollars or four point three billion euros over the internet giant use of its android bubble operating. system to capture market share the e.u. competition commissioner marguerite best of your announced the findings that google's pac ticks to attain and keep its dominant position among internet search engines on wednesday and here's what she had to say. and today the commission has decided to sign google four point three four billion euros for breaching e.u. and trust rules. google has engaged in illegal practices cements itself that market position in its search it must and effective and so this contact within ninety days all face i don't see pavements. and google is said that they will appeal the decision as we reported here in the program e.u. regulators accuse google of coercing cell phone manufacturers into pre-install in

the chrome browser and related search applications by making prince delayed a condition for being featured on google play store or using outright cash payments as sort of a bribe and for more on google find in some important privacy related news we are joined once again by the c.e.o. of straw mart our friend hilary ford which first off what do you make of this the spine of minutes for one thing but but what's your view hilary yes thank you for having me back again and actually it's huge but not in terms of google's overall gross profits it's something like five percent of their growth nevertheless i think what's most interesting is the timing is this retribution for the terrorists the e.u. is actually quite desperate for funds right now they have the immigration issue to deal with if bracks it actually goes through which is looking more and more like it will all be it may be a soft break that the e.u. is desperate for funds and this is a fine of penalizing fine fine and anti-american because they need the money and i noticed something i didn't catch it but i saw the switch blow by my twitter that

the president said something about you know you're good watch out or something or you're getting what you deserve it. regard to the google thing so aren't there after american tech giants so some are saying this may be sort of retribution for this coming out sort of sideways as opposed to the direct stuff we've been reporting about right and actually you mentioned that they did a few years ago two years ago i believe it was they actually had another suit from the e u two point seven million which they appealed and you mentioned already they're appealing this one i have some recommendation though for google that's what they should do is switch off google all over europe and so i have a little a little sign there for european saying contact your eat you commit. to ask why this is being taken down and actually what's wrong about it is that there is a choice the use of the end consumer can choose which operating system which our system oh yes they can have on the android device device it is still a choice it's just that it is preloaded right all these things you get pre-loaded

or i mean and then once you're on your phone quite frankly you can't get rid of them even if you want to still make a selection you can have being or yahoo or anything else that you want you can make that selection yourself but you can't get like i have a samsung and i've got big speaker who i don't care for but i cannot get rid of because begin to get rid of anything related to bixby i don't care for because you know a friend samsung but you can't get rid of it i mean it seems like we're just continuing to lose choices in technology as we go but that's not the worst of it yet the worst of it they're stealing information from us and in the light of the cambridge analytic a scandal we see now that health insurers are going after our data with these broker right ever do are things called broker yellers and broker days i think what's that all about is the data analytics behind what we're doing every day so for example let's just say you're a lady and you're buying a plus size outfit that goes back to an insurance company and they can see all perhaps this lady's overeating on your rates will go up or perhaps you've recently

you've bought some baby products online what does that mean you're pregnant oh you're going to have high pregnancy medical costs all this data everything we do goes back to the medical. goes back your medical records without you approving it they're going to insure so they get a profile as to your health condition in terms of what they call like marketing there are those that they want and those they don't want to insure now you know in the us we have this hipaa law the types of insurance portability and accountability was so everybody when they go to their doctors or they go to a clinic or you have you sign it you say i'm not giving up the health me how are they getting around us and i guess it's world wide web so it's all over but are there some protections for consumers the difference is and you're right there are hipper regulations that's the protection you have for your medical records but this is a medical record this is lifestyle they are having access to the medical issue as i have access to a lifestyle choices by our purchases and i'll post some photos from media perhaps

somebody poses a post on social media on facebook on that they're doing a lot of drinking that of course raises your rates perhaps as lots of other cigarette purchases online they can see that your smoker that can affect your medical rate that's what they're accessing and we haven't actually given them permission but we've opted in to display what we're doing but mary mind you don't have to order online you can still go down to your grocery store and you can buy it you don't have to post anything on facebook so what i actually think it is it's sort of like nine hundred eighty four george orwell again we thought it would be the government and they being our privacy we are giving access to our privacy by posting ourselves you know so. yes you can go you know down the street to your grocery store but say you're going to whole foods if you're using your amazon prime card that should you assume that your you know your purchases with your amazon prime card regardless of whether or not you're ordering groceries from amazon that that might be yes actually what you could do you could be a very unhealthy person you could go on buying your friends food and then get lower

insurance rates so you actually. you actually can we are there you know i thought you were my last question is you know if. just seems like i wish this weren't the case but it just seems like this is the beginning it's not the end of the it's just discussion about save it is stealing if. it's accessing things we didn't actually say we wanted to be accessed but we're giving them a lot of these think you know you're you're agreeing to all of these conditions but you really don't have a choice so it's fine print there were pages that would be fourteen pages you're agreeing to it because you really don't have too much of a choice unless you go to you know if you're not using google you go to yahoo eccentric so this is a conversation so it's going to continue for a long time what is it is actually one thing that i'm not i'm sure most of your viewers don't know most people don't realize is so microsoft bought linked in two years ago for twenty six billion guess what they bought the software microsoft has to go software on your computer if you update your resume and because you if you update your linked in profile guess what they're linked up now so they report when

you're working on your resume that's what i call big brother so somebody at a company the recruiters are buying that information what would be interesting to see if all the companies in a heated economy going to buy the information from microsoft to say well we want to see if bots updating his resume right now i'm not. but yes henry ford is always such a pleasure to have thank you anytime. and that is it for this time and you can parrot boom bust youtube dot com slash boom bust arctic we'll catch you next time. imax keyser one more of my guide to financial survival this is fun and a device used by professional scallywags to earn money. that's right these hedge

funds are simply not accountable and we're just getting more and more to them. totally destabilize the global economy you need to protect yourself and get in for a while because we are. 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. higher education is becoming just another product that can be pulled from the souls but it's not just about education anymore it's also about running a business where you know models of the regime could this also. mean that they couldn't. want is the place of students in this business model before college i was born now and i'm extremely bored high education the new global economic war.

right we're all set to start in five. has a signal. it's not going to talk about no plan just didn't right after the arse explorers were moved to put up their. rocket. seriously plan b. ok listen. well welcome to sophie and tell i'm sophie shevardnadze and today we've got lots to talk about in our program and our guests. good luck to. all the. locusts it's. my muscles as.

i know that. you can. do it a little bit he was saying this is. the thing you go to the religiously and i feel you owe me. a little first well it's only about the looking out and i had to go. for the one of the ninety one columns on the. fuel i. mean.

some it takes to the white house announces donald trump is inviting the russian president to the united states in the order to causing outrage in the american media. basically by getting them to washington top spy. in the united states he doesn't know how is that possible that the president of the united states is inviting putin for a second summit in a couple months in the fall over at the white house. of a dozen people have been injured in new jersey city new because a man stabbed him just on a bus. and three. under rebel seats and for thousands of residents of two syrian town.