isn't that such a security risk when you have a black box operating the public eye to microsoft dependency puts governments under a cyber threat and not only that. it will. simply say this is still me because clearly one of them will soon be. these who will. be. the ones this is the. host i hadn't done with the old patients stop and i'm also still on the as a front is up and these cards in the fine. print on. this is full bust broadcasting around the world and covering the world of business

and finance the impact upon all of us i'm partial to in washington d.c. thanks for being on for coming up today has there been a crypto currency bloodbath some say so and there is a story you should know about how prices have moved we'll talk about that and more coming up directly and following our discussion of those cashless crypto currencies r t correspondent manila chan joins us to take a look at how some businesses are rejecting care we'll show for you plus small stocks have done better than many of the large stocks the founder of the stock closed books on most joins us to see which smaller stocks have made major moves and time magazine has new owners who are they and what might they do with a prominent periodical conservative t.v. and radio commentator steve malzberg tells the story we're chock full of fact fun and a lot more first we had a few headlines. a potentially do. decisive round of brecht's the talks between the

united kingdom and european leaders starts wednesday in salzburg austria the european union's lead negotiator michele bunn yeah they gave a nod to what he expected as a good cooperation between the e.u. and the u.k. his mild optimism however is in contrast to a report by the u.k.'s guardian which notes e.u. leaders believe prime minister theresa may will have to confront a worse case no deal brecht's that scenario before bribing the bullet more specifically they reportedly say ms may needs to move her red line on the issue of post irish border for a deal to be feasible i.m.f. managing director christine lagarde has warned the u.k. leader is that against a bracks that brinksmanship predicting that a no deal brecht's it would inevitably result in a u.k. recession higher budget deficits and potentially weaker pound ms may talk tough in a b.b.c. interview ahead of the talks on sunday her former foreign minister boris johnson

expected to challenge her for a party leader a legend a newspaper column that ms may is leading the u.k. towards quote expect tackler political car crash. and reorient orienting from the atlantic to the pacific us president donald trump has imposed tariffs on an additional two hundred billion dollars worth of chinese exports to the u.s. the latest tariffs will begin on september twenty fourth that ten percent are scheduled to jump to twenty five percent on the first day of twenty nineteen if no deal with china is forthcoming mr trump has now placed tariffs on nearly half of all chinese exports to the u.s. in an official announcement of the latest action mr trump threatened to place tariffs on an additional two hundred sixteen billion dollars worth of chinese wares which would seem to place tariffs on nearly all chinese exports to the u.s. china predictably fulfilled. it's pledged to counter any new tariffs placing duties

between five and ten percent on sixty billion dollars worth of u.s. exports to china a voice of america reports that chinese officials are considering more specific increases including fifteen percent duties on u.s. wine steel pipes fruits and nuts and twenty five percent on pork and aluminum for those looking this is what a trade war looks like. and now we move to what some have called a crypto bloodbath as bitcoin in a theory i'm lost roughly ten billion dollars in value the story of how it seems to have occurred is interesting a few days ago a wallet containing seven hundred twenty million dollars a bit coin which had gone long on the crypto currency and not traded anything since march of two thousand and fourteen began trading began selling on the hong kong exchange bit the next after three days of selling large lots of one hundred bitcoins each in sub wallets some question the origin of the previously dormant

money could it be related to the nefarious silk road scandal of crypto dark market used in part for drug transactions and other illicit purposes including money laundering or could it be a wallet full of stolen crypto cash from twenty fourteen's hack of the japanese crypto exchange mt gox more than four hundred million dollars went poof in an instant there one japanese basic euro t. agency says they believe it is the case could be mt gox money inquiring minds want to know but this is crypto so for now folks will have to keep guessing either way the selling continued and prices have fallen this apparently one crypto whale seems to have been moving markets what prices for key kryptos bitcoin in a theory and have been relatively stable over the last several months relative for crypto if that is at a lower price pegs there was a slide to prices to just above what has been seen as the bitcoin support level.

lopes bitcoin support level of six thousand dollars prices today have come back somewhat we'll have the bitcoin number at the closing bell at the break but some continue to question these major market moves today is certainly no exception as the theory has been on usually volatile when we look at crypto prices it certainly isn't a place for investors who are fate of heart it reminds me of the last time the king of rock n roll elvis presley was seen in public he had rented the liberty land amusement park in memphis tennessee and had a little at little after one am here right with some guests an elvis rode the zippin pippin roller coaster and while he was on it he lost one of those ginormous signature belts that he owned for crypto investors they could lose a lot more than a belt buckle on the crypto roller coaster ride that said a lot of folks roller coasters and for more on this we are joined by geoffrey tucker the editorial director in mare american institute for economic research and

nick span is the founder of the big center and y.c. thanks to both you're being with us a. i know you just got in the chair appreciate you may make it let's start with you when we see things like these large clip crypto blocks being sold should that raise anyone's concerns about if markets are being pushed around or manipulated. by with thanks for having me. i think that you know there's a lot of activity of someone selling something this must be someone buying it also . all these old traders a legacy financial. institutional over the counter traders are getting at the crypt that once they hit twenty thousand dollars everyone started calling and asking where they can get crypto and where they can get because of things like that so the big block trains are occurring at a growing at a rapid pace every day banks are getting involved. the option of because in

trading on wall street is tremendous many windows that you stare at if you walk out of walls for you to see people who've converted to trading because even though they don't anything about it and they don't even know what the real value of it is and. that's what's happening so if there's big blocks moving you know there's been people buying big blocks in the past that were trades happening. you know went from thirty dollars like fifty cents one time and went from one hundred forty eight dollars to one hundred seventy dollars. so you've got to be a true believer i mean you can be a true believer or not i am a true believer because i've experienced this ten twenty thirty times over and that's just the nature of it that's what that's how it's been working out it's only nine years old it's an infant it's a beautiful infant and you know it's being baptized by fire and the reality is it's nothing else has happened like this in the past and that all makes

sense and for every buyer there's a seller eccentric but the reason i ask and jeffrey to you you know in the both in the futures world you know that i used to regulate and in the equities world when you have big large huge trade you don't really market moving trades and they require that you do those at certain times and they even used to do that the o.t.c. space just so they don't push markets around so regardless of where these you know hundred lots in a sub wall at a big point came from you know does it and i know you don't like regulation in general jeffrey but does it make some sense in order to try and tamp down the volatility that we have with kryptos. are you going to do that is twenty four seven in crypto land i was is that going to be any change in that as the global assets are not traded on an international exchange i think i would just be

a completely hopeless undertaking listen you've got you've got nick on here. this guy full of wisdom he's been there he's done that he's seen this what it is say twenty thirty times i have to year over year on the calendar year we're still doing just fine actually people who got in and december right now are wondering what were they think. and that's just that's just that's that's the way it is and krypto laddie and i look at all these reports these days about. those dead the blood bath you know but you know i mean crypto has been the been declared you know hundreds of times you know i'm just thinking we're coming up to the tenth anniversary of the two thousand and eight financial crash and it was at that point that the white paper was proposed not even ten years ago the stuff the even exist you know so yeah and then and then two years after that it had no value whatsoever we're still like nick says this is still

a man well you know to your point. right i mean you know you know he's catching the story about with the bloodbath headline and i thought well god got to cover that and you know by the time i get to doing the research i look at the price and well it's rebounded you know and so then it makes you question so you're right we've been through these things a lot and i get it that people always take the bait by the way people always take the bait you know when the price fall to the ok the phony at asset made of a or it is evaporating you know every single time and i tell you as somebody who's been watching these markets for a very long time it gets it gets tedious it's actually kind of funny like we're used to being calm i mean the last time i panicked the price fell from one hundred sixty dollars back down to sixty dollars and i was i was losing my mind i was like you know what have i done you know now a day to share life and all day laughing and what me worry. right but let me let me

go to you i mean i you know i love krypto as i want crypto is i'm all about it but i think there's got to be some modicum of regulation in some regard to stabilize it now you know we people could disagree with that but when we look at the hacks for example and it's not a wall i mean that's one of the great things that you know that the wall it can't be the when we talk about even some exchanges you know we talked about mt gox earlier should there be. some sort of what should the exchanges do to guard against this and you know there's an insurance system in stocks where if you lose money to no follow your own you can get paid back part of it part of it what are exchanges going to do to create confidence in this area but what's happening is the exchanges are not just evolve it is it's a revolution what's happening is these exchanges are going decentralized right there are creating a tonic swaps more and more common swaps are available which means it's into chain

operability where people can trade crypto chained to a chain where there are no other humans involved except for the seller or a contract maybe there's only you and the contract so it can leave the money on a contract and you can do your trade with the contract which means that you know it's the same math that lends a person you know on the moon on a dime. is responsible for how these things work and so you can't. people's brains were set in the in the past yeah. but with you know centralized organization centralized exchanges and they just went and naturally gravitated to what existed in the past and this is a this is a huge change and what's occurring is that you're going to trade europe finances with mathematics yeah it's a matter of maddox you know there are rules and you can imagine ok got yes sorry got it got all right thank you but quick jeffrey. the insurers are definitely to

get involved was londoners are involved in the future you won't be able to be an exchange of any kind of repute unless you you've got in truth of that hey we found something to agree i bet i was that jeffrey tucker don't tell anybody other than the folks who are d.v. thank you both for your time. and nowadays there are several ways to pay for anything you want and it's all done electronically as we move further and further away from the use of paper care what are some of the implications or unintended consequences of a cashless society to explore this topic a little further it's great to be joined by my ever able colleague r.t. correspondent manilla chen. welcome are always good to be here so let's get everyone first up to speed on how this topic came about you and i were talking

offset and you shared with me a story about you going on a jog and you stopped at a local eatery here in d.c. you ordered a salad you wanted to pay with some cash and they rejected it so they said they were cashless so i got to thinking first is it legal first of all to reject cash because it's legal tender but second our privacy it's really being sold out as far as i can tell for convenience and that's really what the focus is here so the u.s. government keeps around one point three trillion dollars of us currency in circulation at any given time that's about four thousand dollars for every man woman and child in america however american consumers only used thirty two cats maybe he used cash thirty two percent of the time for retail transactions back in twenty fifteen so it's pretty safe to assume that cash has continued its decline in popularity mallon twenty eighteen so what the. online shopping and the advent of

social payment systems like then moe and square pay pal apple pay all the script zero currency like bitcoin experts believe this is a trend we're going to continue to see globally china's mobile wallet sales are expected to account for over seventy one percent of sales by next year in two thousand and nineteen in the u.s. likely headed for a similar numbers now all that convenience is great but your digital wallet is leaving a long digital trail of your spending habits for marketing and advertising companies and possibly even government agencies who can monitor what you do what you buy this can even extend to for example your health insurance company if swiping your credit card to buy cocktails on weekends or maybe you like to go to k.f.c. or mcdonald's for lunch there is a real possibility that this information can be obtained by marketing companies who then become contracted by health insurance companies and the health insurance

company can then see your information and dean your lifestyle unhealthy they can drop you or perhaps refuse certain coverage or maybe even hike up your rates so this is the territory that we are now entering and some folks are taking notice for example this woman on twitter she says kind of tired of having my every purchase noted by the credit card companies or this tweeter who says i refuse to go someplace that won't take cash sometimes i prefer not to use plastic especially locations which i'm not familiar that's how fraud occurs so bart while we have seen a huge shift in our payment preferences as a whole of the nation as a whole there's a real possibility that this might actually swing in the other direction as more and more people are becoming savvy to privacy threats and then one more issue i think that a lot of people don't think about going cashless is also an inadvertent form of

discrimination and noble. really thinks about that because there's something like seven percent of americans who discusses our friend the founder this doctor or melissa are much less so welcome overall what does this say about the depth of markets that even the smaller stocks are doing pretty well. yes not only the large cap stocks but the small cap stocks are doing well and just so people know small cap stocks are anywhere with a market capitalization of between three hundred million and two billion some people say that trading small cap stocks are riskier because they have less volume just so people know that going into it but then the potential is they can also have a huge upside so some of these stocks have been trending higher the overall market isn't a bullish uptrend to we closed very well today very strong today near making brand new all time highs in the s. and p. today and close to it in the dow so these stocks are trading very well as well as the big cap stocks which is interesting. and but some of them really have some

unique nature is to them and they're maybe they're doing they're more than just going along for the ride so let's get a to a couple of those that you actually pointed out to us earlier no the first one i want to get to is pet pet services company which you made sound interesting really interesting tell our viewers about it. well this company makes pets streets and food and one of the reasons i think this is doing so well is that a lot of millennialists have pets and millenniums actually make up one of the largest working class right now and they're buying things for their pets so the stock looks great again all of these stocks that i've chosen today to discuss look at technically so topically speaking of all of these stocks this one included are it up trends they're very very bullish so you see the money is coming in the stocks are moving higher so you could go along this and expect the move to continue i hear a lot of keyboards in my ear of investors around the world listening to you about these and we're going to talk about two more two just for to give those

a heads up the other one is shot spotter incorporated and this was really cool or that one with the telling you about how what is it a gun shoots or something which would you tell us about this one and this one again it's a has it some kind of gunshot to. and as you know there's been so many problems and so much news in the last several years about all of these shootings so this stock has climbed the ladder throughout the last year again getting close up trending higher to make new highs and so i don't know exactly how it does it but this has become very very popular and it's supposed to supposed to help people and not only for businesses and individuals i'm not sure exactly how the system works but the stock has been on the rise and probably because again people are trying to protect themselves from the shooting yeah absolutely and one of this is a tech stock but it's a small come tell us about that. yes this is another one again a strong bullish uptrend this isn't really that shape either but again it's in that

small cap sector again on the rise technically speaking it looks like a good buy it some kind of communications a satellite communications system cell when you're looking at all of these you got to pick the perfect place to get into it if you're going to be in that short term or if you're riding it out for the long haul and you don't care about holding it out for twelve to twenty four months i say this again looks like another good buy just because technically speaking the stock looks very strong melissa want to have you back and talk about trading stocks in the future but that's it for this time the founder of the stocks will show the always thought provoking both to our most banks melissa thank you. time magazine has been sold by merit of corporation in american media giant and the largest magazine company in the world for one hundred ninety million dollars the new owners are mark and lynn bone and off the mr boehner benioff rather is the

billionaire founder of c.e.o. cloud computing company's sales force dot com time which started back in one nine hundred twenty three was the first ever weekly magazine in the united states the economy magazine has lost readership over the years a trade group reports that times official print circulation numbers fallen by nearly forty percent to two million down from three point two five million just four years ago twenty years ago that figure was four million for on this we're joined by conservative t.v. and radio host steve malzberg steve thanks for being with us who are these folks the ben offs and the sales force money is enough to pay one hundred ninety billion bucks for tom. i guess so he's been very successful with this cloud company since one thousand nine hundred nine but there is a distinction here this is not affiliated with sales force this is strictly a personal purchase on the part of himself and his wife and they've also announced

that they're not going to be involved in the day to day editorial operations of time which is interesting we'll get that a second but it's a consumer relationship product company one hundred fifty thousand clients including people like farmers insurance and t. mobile and adidas and probably a thousand others names that you would know so he's done very very well with it and you know are they planning on doing anything i mean they talked about they lost a readership they have a plan are they going to stay hands off well digital platform while they while the numbers are correct and the drop in in readership of the hard copy magazine which is iconic i mean you know everybody wants a good time man of the year now person of the year their top one hundred list it's been around for ninety years but magazines are dying the digital platform that was growing since two thousand and fifteen the reach is gone from twenty three million to thirty one million and lots of those a millennial so i think he sees an opportunity here to further that you know in the u.k. the independent and the guardian when they were taken over by

a new owner they disband they just did away with the hard copy of the newspapers and went strictly digital so that probably is what the future will hold how soon i don't know very interesting and we'll have to look at maybe have you back steve if you're interested in some of these other tech folks who have done well and ventured out with all the money that's offered this time thank you steve malzberg conservative t.v. and radio commentator my pleasure. and that's it for this time thanks for joining us you can catch boom bust on you tube dot com slash boom bust r.t. so long for now. medical use does.