stayed on script without any off the cuff remarks assuring the economic titans that a prospect a prosperous america is good for the world. and european central bank president mario draghi joined the critics of u.s. treasury secretary steve menuhin on thursday druggy pointed pointedly suggested that nugent's comments that a weak dollar is good for the u.s. economy was a violation of an agreement reached with washington in october to avoid competitive currency devaluations druggy went on to say several members of the e.c.b. governing council quote expressed concern that this was broader than simply the exchange rate it was about the overall status of international relations right now . in the us aid trump appointee is pushing a major change to the legal process for settling alleged labor law violations peter robb general counsel of the national labor relations board or n l r b outlined

plans to affectively demote the regional directors who resolve about eighty five percent of n.l.r.b. cases by placing them in a new smaller tier of civil servants who could overrule the regional managers the changes expected to tilt the system toward ruling in favor of employers. all right let's head back now to davos with our children for reaction to the president's speech let's get parts thoughts on this as well as those who are in attendance. monella present trump speech was warmly received by a polite audience most of the time was spent on what the president himself describes as being a cheerleader for the united states he told the crowd that the u.s. was open for business and competitive again he said the economy was strong and smashing one stock market record after another consumer and business confidence was

high and unemployment was low since by election we've created two point four million jobs and that number is going up very very substantially small business optimism is at an all time high new unemployment claims are near the lowest we've seen in almost half a century on the international front the president said that america first does not mean america alone he said we cannot have peace without security and that other nations need to contribute their fair share to that security on trade he said he wants free open and reciprocal trade and made a declaration that he is open to re entering the transpacific partnership or in agreement with a subgroup of the proposed eleven nation pac we support free trade but it needs to be fair and it needs to be reciprocal. because in the end

unfair trade undermines and so on he also noted briefly about fighting terrorism together and mentioned his support for a merit based u.s. immigration system what was notable about the president's speech and his trip here to davos generally is it was absent of any major focus was the president spoke from a teleprompter except for two questions at the end of his speech the speech was on disrupted by any protest although there was a large protest earlier in the week in zurich the city where the president's plane air force one landed before departing to davos on several helicopters with the presidential entourage during his davos trip the president met with several world leaders including british prime minister to resubmit a he also met with many business leaders when asked earlier today if he was bringing back any big deals from his visit here and how much those might be worth the president simply said the united states is doing fantastically well businesses

are coming back and then when pressed to reporters on how much any business deals might be worth the president simply replied probably a lot so far there hasn't been any more specifics on any deal or deals manila that's the latest on the president but it boom bust as you know we're not all trump all the time over and over again so i'm pleased to tell our viewers that we are now joined by the bitcoin queen of switzerland olga filled meyer whose day job as c.e.o. of smart valor all good thank you for being with us thank you that have my support ahead in the here explain smart valor and what you call the smart valor network of our it sparked well or it's a decentralized marketplace for tokenized alternative investments and for everybody who doesn't know what to can is a sin maybe if people heard about i.c.l. this so so can you see it on any public gluckstein you know backed by some kind of on the show. if a company or realize that this is still can is

a should right and today we see the first examples of to can ization but actually anything can be two straight real estate infrastructure project diamonds so the ability. to market place for those took a nice alternative investments or when we met a few months back at fin tech week in hong kong you spoke very eloquently about something near and dear to my heart as a former for natural regulator transparency and compliance explain your perspective for our viewers on that you see a regulation this kind of legs the biggest toddle today on survey of adoption of plug chain technology in finance it started was based because you know i was very fortunate to be involved in one of the first major regulatory. cases for bitcoin in switzerland. we've made significant progress in switzerland and switzerland is developed in the crypt hop for finance right it's been just last week.

the president of switzerland proclaims a wish of establishing the crypto nation switzerland right so we hope you know that also swiss sort of financial regulator will continue this positive development and create an appropriate regulation framework to enables us kind of technology and businesses although you have a background at u.b.s. working with high net worth individuals it seems they might have some roadblocks to investing in crypto currency i mean one there are so many out there how do you choose and to it's a really technical space how are they doing this that's true actually you see there are a lot of exchanges for cryptocurrency spirit this is not the focus of business but you're absolutely right to. to to invest in crypto currency is today. in a smart way you actually need

a technical knowledge and pretty deep one you need to understand the difference and protocols orders that you know why. this protocol is better than zero as of on the scale ability interoperability and so on so for most people this is not possible so most people just read what other people say this is you know a lot of votes but you leeson rate it's a good development you know stories involve and we see some kind of institute instead institutions structures come into place like crypt. funds rate as there are funds that that have teams that you know half a very deep technical understanding and they select in the proper investments so so as industries evolve in the things that are few interest and opportunity to get exposure to this industry so a larger question for you this is davos in the theme here is creating

a shared vision in a fragmented world how does block change and or digital currencies play into that oh it's very good question bart i really saw a vial about it and then the sort you know fraction world i mean there are so many aspects to look what we're talking about from the technology side knowledge side here is actually about this intro is ation and disinter mediation right so blog chain this is a technological power that will be trying to central this zation even faster rate so the first example is of course bitcoins the first to central post national currency rate so that means you knows that that actually how i was a citizen decide what i do was my money and where i send it government have no influence on that right so that tension that has been you know. potentially this is. a way to weaken when the to live when it sort of pull itself

off a states right so basically can say that we're talking here about redefining. social contract between government and people in a certain way right and this is just the first separated because from decentralized money will go to decentralized wells and decentralized property and so on right decentralized identity right i den public lectures where you can store your identity and it's not government who is in charge chose that right so i think you know it's it's kind of fractioned world on the one side but technology wise to get the support of full underlying trend is towards a decentralized society and that's a good. one final quick question are you personally invested in crypto currencies. actually today you should know should know they do and then you statements about it

but i think that was one of the best decisions i've made all the felde myer the bitcoin queen of switzerland and c.e.o. of smart valley thank you so much for being with us thank you bart take your. time now for a quick break but hang out with us because we want to finish out our week here at davos and here are the numbers at the closing bell. only on.

indigenous people as you know we that the baby in. the trees. most politicians say the only. out of a sudden a man just found and pulled be there was time. i said i will then three billion if they will not allow me. to get those should we. find out all our money on million million indeed i'm not i'm not ignorant you need to be indicted beachhead didn't don't want to go human on mankind a fake i mean you don't look a lot i mean you got me i used. to. we're

going through a dramatic economic and social and cultural transformation but women want to participate gay lesbian people want immigrants want rights in many cities are saying that's my way but there are more traditional parts of the society that are saying no i don't want that i live in a more of a world community i believe we should have one national policy i believe in a country that's divided as much as any in the world we actually have to localise our government. it's a very rough furthur and you sort of climb over and you have to find stability on some of the flanks. it was gunshots on top of them and so many friends they would have been going to make and i've been given not. going blow back up for me you know i don't want to see a better body in this room is ready to punch you. straight in the good. old to me

a good meeting. you don't think about these three of these so good on you guys three it's like you know there's another basis. join me every thursday on the elec simon short and i'll be speaking to guest of the world of politics sports business i'm show business i'll see you then.

so we really only hear of davos like once a year for the world economic forum right but what happens to the town during the rest of the year what do they do there all year and what does it have to do to get ready for the biggest economic meeting in the world let's go back now over to bart shell who's there in switzerland. for most of the year davos switzerland is a quiet town of under twelve thousand people as the highest town in europe of monks the swiss alps most of the winter is about snow and winter sports there is skiing and snowboarding and skating but the week before and the week of the world economic forum this city shifts and tremendously transforms fashion during the forum week one is as likely to see folks on sidewalks with old school wingtip shoes and briefcases as they are with people with skis boots and poles even buildings shapeshifting just days ago there's a pizzeria dance club that was transformed into what is now called crypto h.q. a local wander a shop blue lemon for this week is

a temporary home to sales force the cloud computing company costs for these rentals can run in the tens even hundreds of thousands of dollars a church was even transformed for the week into a money making venture is they rent out the establishment even nations like argentina and ukraine have rented various buildings we've interviewed guests this week at the india house and the russia house and the local economy is also boosted by big bucks at hotels where if you can find a room it will cost you five hundred dollars at a minimum and at restaurants the cost of a steak meal with no frills can run you one hundred dollars this year has been especially transformative and not in a great way davos has experience more snow than any year since one thousand nine hundred ninety nine st snowblowers fill large truck which take and dump the snow outside of town.