they maybe not profitable in the near term alex because they're moving to these bicycles and scooters as opposed to having several tons of metal rolling around in traffic jams so what do you think well it's interesting it's one of those like several long term plans according to the c.e.o. that they know they've got me they took a four point five billion hit last year and something like this is going to give them a hit as well but it's the long term plan i mean they have been investing in this type of thing are ready in april they purchase jump and they also they have the investment in the scooter sharing company line so this is not something that's brand new to them but it's it's an interesting idea of how to move forward knowing that it's going to be kicking a loss but they're saying you know what's important here is the way that we're building cities and we don't want to contribute to more traffic with these massive vehicles also this is great for short hauls for commuters so they don't have to get into a car and you know pay more will be paying less and it's actually a good thing they're saying for drivers because from now on into the more bikes and

these electric scooters that you have on the road the more long haul drives that they have so they'll be profiting more in the end so it's a win win for everybody according to her and i also note that toyotas given five hundred million to over to develop their self driving cars will talk about that again r t correspondent alex the highlights thanks alex. thank you. and time now for a quick break but hang here because when we return u.s. financial regulators are going after bad actors in the cryptocurrency space in a big way gary de wall special counsel at patton mutual roseman join us for the latest plus our chief correspondent works correspondent chris steve christakis reports on how sports betting business is worship and how one gaming company is making it easier for folks to place their bets as we head to break here the numbers at the closing bell will be right back.

you know world of big part of. law and conspiracy it's time. to dig deeper to hit the stories that made stream media refuses to tell more than ever we need to be smart we need to stop slamming the door. and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks. want to know what it.

is. so you're not. you're not just i mean most people have spent a lot of. i mean. there's a lot that's what i say i mean i just don't get it on. my side and we've. already yes if he thought of getting.

out of the mouth of the money let's. listen. it's a good time to. try to move. them to get my money now why not pick ten then again why exxon and the own people we believe that those. but i can say they're not them up with the johnny they are at the moment i don't know how to do it on a case there is a lot of money on the way to not build enough to go out to the people they don't want to put out here that's the most hard and i don't know them of the brother.

welcome back brazil has faced turmoil in the transportation sector this year with truckers strikes roll roiling delivery and inventory operations nationwide now the trucking slowdowns are having consequences in another vital transportation sector shipping global shipping giant merced has raised the alarm saying ports are overbooked for outgoing cargo with some export reserving exporters reserving more space than they need exploiting firms started scrambling for space when the trucking strikes began and buying up space as a hedge against the crunch when the strike finished those exceedingly large bookings in turn exacerbated the overbooking and space problems the friction is getting exports out the door so to speak comes at an inconvenient time for brazil and the world while u.s.

acrimony with china over trade issues is reducing chinese purchases of u.s. soybeans brazil now the world's largest oil producer has been expected to fill that gap but now some question if brazil be able to do so given the large logistical shipping complications. and we are now delighted be joined once again by our friend gary to wall who is special counsel a law firm cat mutual roseman gary welcome back i have a couple of commodity questions for you at first so we saw a market shed a little fuel injection based upon the potential for a u.s. mexico trade deal do you think in commodity markets that news was met with really just a sigh of relief. no doubt it was met with a sigh of relief although it's probably a little bit even supply side mexico was a big importer of hogs and cheese so you saw the big bump there. it helped everything but clearly we need some relief in china china i was responsible for fourteen billion soybeans imports the terrace there have caused about

a two dollars per bushel hit to the market price tariffs are really hurting and we're not going to get good changes until we see some tariff relief in china yeah totally agree with you let me ask you about the the news i was reporting there just a moment ago about brazil and you know i'm not sure that's going to happen but what's your thought about whether or not this transportation logistical problem with shipping could really put a damper on the brazilian exports of beans to china. you know it's interesting the export of beans is actually cyclical from march to september most of the purchases are from brazil for the rest of the year most of the produce purchases in china are from the united states will be interesting to see how everything plays out one thing interesting bart that's to keep in mind is is that despite the trucking problems which really began in june at the end of june the beans on the ports in

china were at about a three point five week supply and that actually is greater than the equivalent week supply of three point two in two thousand and sixteen and twenty seventeen zero very interesting oh the data detail so they put a head yeah absolutely head where they were they were every supposed to do in these markets right exactly ok let's go go to crypto real quick you know the c f.t.c. your old agency my old agency they want a permanent injunction a ban against an operator for a new york based company called cabbage tech corporation and to see if the see they boldly and viciously defrauded investors what does this say about how serious financial regulators are about going after bad actors in the crypto space gary sure i think both the f.c.c. and their old agency the see if the sea have been very very active in this space previously bart and i think you and i have talked about it and other editions of your show i have commented that before it was just regulators talking about it and getting settlements now the court decisions are coming down and that's the

significance of this case against cabbage stack and patrick mcdonnell it was an actual court saying that crypto currencies are a commodity and that the f.c.c. that they see if d.c. has the authority to bring these kind of anti-fraud actions against such allegedly bad actors and you know better than i is as as an attorney i mean once you set this case law that actually gives the regulators some more comfort in what they do and i think right now they're probably a little skittish and in that regard gary you know the conflicts big. in the sea if the sea and the s.e.c. the trees or commission are sort of known for those of us who worked at one of these places but how are they getting along in the crypto area i think there's a lot i mean at least from what i can read in the newspapers and most of my colleagues at both agencies tell me there's a lot of cooperation that being said i think there was a little surprise in many corners last week when the securities exchange commission declined to approve two exchanges exchange traded products of eight nine exchange

data products based on big futures and if you read the disallowance orders there seems to not have been a recognition of the standards that exchanges must certify in the future space regarding anti manipulation and surveillance that seems not to be given a lot of comment to you are a lot of respect by the f.c.c. in their disallowance and i wonder what will happen that was actually done by staff of the f.c.c. and now the full i.c.c. will will be reviewing this matter coming out with their own opinion and i'll be curious to see how the f.c.c. deals with the see if these processes for exchange contract approvals. well i remember the self certification in our old world in the commodities world gary was the exchanges could self certify and i believe we had like ten days to reject it if we wanted so looking at these e.t.f. i mean i'm i'm supportive of bitcoin irby crypto e.t.f. but they certainly need to be cool with all the rules and regulations and you and i both know all that it's always intriguing interesting and of course enjoyable to me

personally gary to have you on the program gary to wall of a law firm cat mutual roseman thanks gary good to see you again bart. and politicians and investors around the world are eager to see some movement in the bracks process and anxious to see a minimally disrupted resolution of the debacle now at least one prominent japanese executive is warning that his compatriots are quote seriously concerned at the lack of direction in the negotiations carioca not that he she chairman of both peachy corp and has served since twenty fourteen as chairman of the jepp and business better ration mr neck and ichi lamented the environment of uncertainty around telling the financial times various the naria is get discussed from no bracks it plunging ahead without any deal at all we net we are now in the situation where we have to consider what to do with all of them mr knock and pleaded for clarity and

urged the u.k. to stay in the e.u.'s customs union in any deal and warned against a no deal hard. and now we move to sports betting it's a topic we've covered before in light of the u.s. supreme court decision to allow such betting back in may we thought it was time for an update plus there's now a new way to bet you could do it on your phone our team sports correspondent steve any up the details give us deal with the details on what's going on is it taking off steam. it really is it's happened very quickly you know since may you know just a few months ago there's already now four states including about of course new jersey delaware mississippi mississippi coming just now in this month in august and new jersey and delaware jumped on it pretty quickly in june and they already have some impressive numbers delaware being a very small state you know population under one million they generated already fifteen million dollars in total bets netting about one point five million now new

jersey four million dollars in revenue revenue in their first month alone but since the launch they've generated over forty million dollars in bets you know over seven million in revenue so it's really taken off in west virginia rhode island and pennsylvania are next in the coming months all those are pretty impressive numbers whether you like gambling or not like gambling a lot of us like business and like to people see people do well it's so good for them in that regard now what about i think it i don't know if it will which the cup which they gave me yours or it was m.g.m. or who's doing an app on their phone where you can bet on your phone so it is m.g.m. resorts it's called the play m.g.m. new jersey sports betting that now you have to have it specifically for new jersey so i could download it here in d.c. for example but i have to be in new jersey within state lines they use geo trackers in order to bet and all very interesting and it's through a specific casino other casinos are going to jump on but the borgata in atlantic city is the only one that's supplying this right now so you download the app you

can bet from anywhere in new jersey you have to be twenty one years old and the way it works is the app is it's very simple to use it's streamlined so you use a virtual wallet you deposit funds into it using a credit card or a check for example and your funds that are available in your wallet virtually you place bets and your winnings go directly back in your wallet and then you can you know really bet and you can bet on any sport right now it's a soft launch it launched last wednesday so it's only available actually for android users at the moment but i phone users and other platforms it will be available for those as well according to the borgata and m.g.m. . m.g.m. is the first company to have both physical and mobile sports sports books available and so that's the looking to be ahead of the game in terms of taking over there and so you can download it here not that i was going to use the geo tracking got to be physically in new jersey in order to but you can download it anywhere but you have to bet physically in new jersey at the moment yes christakis thank you so much

pre-shared all the information. and that's it for this time thanks for hanging out with us you can catch boom bust on directv channel three twenty one dish network channel two eighty or streaming twenty four seven on pluto t.v. the free t.v.'s channel one thirty two ers always can find us at youtube dot com slash boom bust r.t. sin x. time. that is well it's got a lot of oil but there are many refineries and this is packed oil and on their trunks the levers are well positioned for.