the p. a process designated for nations that run deficits over three percent of g.d.p. against italy some even believe that italy may be subject to some sanctions going forward check it out i think we are approaching sanctions from the european union because i think that detention government unfortunately has chosen the conflicting course with the european union so i expect a very tough reaction. yields on italian bonds rose to a three week high on the news and moving north to the german economy which has contract it for the first time since two thousand and fifteen according to the latest figures those reports indicate the german economy which is europe's largest of course shrank by point two percent in the third quarter be low expectations up point one percent contraction while the news was not shocking given those expectations and the recent troubles of german automakers over those european emissions scandals and those standards the news looks more more ominous for europe

stability in the context of the things we talked about earlier the italian budget drama and today's british brecht's it cabinet meeting some analysts pointed to the weakening of view of chinese demand as a factor likely to suppress german growth going forward. and moving back to north america ford motor company has announced a huge partnership with retail giant wal-mart to develop a grocery delivery system using self driving cars are autonomous vehicles i guess as they are increasingly termed delivery service post mates based in san francisco also be on the team helping to design the system for ford vehicles to deliver wal-mart's where's the project will start with conventional human operated vehicles and at least some of the testing will take place on the streets of miami florida miami dade county drivers take note in the longer term ford says they expect to begin producing autonomous vehicles by twenty twenty one. and in market

manipulation news a previously unknown guilty plea from a former trader at j.p. morgan chase may give a big boost to a lawsuit to investors who say they suffered losses in the silver market it was real yesterday that john edmonds admitted to a legal efforts to manipulate the silver market when he was a commodity trader at j.p. morgan by means of so-called spoofing that sending out false signals prosecutors alleged in the court record that mr edmunds learned the tactic from more senior traders at the firm and as a note on prices silver is down fifty three cents in the last thirty days and down to thirty five in the last six months which is a fourteen percent drop on twelve months silver is also down sixteen percent and trading today comix around fourteen dollars and twenty cents per ounce. some of you busters may recall when we did our weekly market wrap last week i

noticed some south african gold related companies and said we'd have more on gold well as promised here we are and we're joined by peter schiff the c.e.o. of europe with afic capital peter welcome glad to have you as always before we get your thoughts. we will be hold on gold what's your reaction to that news about those j.p. trader at the one particular trader on silver. well you know there's long been rumors of manipulation when it comes to the gold and silver market and some of the rumors are probably true but i don't think that is the primary reason that the price of gold and silver have been going down i don't think it's just manipulation i think people just a completely clueless with respect to what's actually going on in the world they don't understand the u.s. economy that understand the fed but they're about to get a rude awakening and the smart money is buying gold whether it's being manipulated or not in the short run gold and silver of both going way up in the long run and the long run may be here much sooner than people think just as

a quick note on silver peter you know when i was in my former job i called for an investigation into silver i was the guy that did it took five years and we found all sorts of evidence of attempted manipulation of manipulation but not enough to actually prosecute so from a personal perspective i'm glad to see this going forward at least in some degree on gold we saw gold prices hit a four week low of twelve zero one forty that's one thousand two hundred one dollar and forty cents yesterday as the price traded lower for seven the last a training session put the day it was trading up midday at least two dollars and forty cents on call next that's a commodity exchange in new york what do you make of gold prices these days are we about to see an upswing as markets appear to be ready for some correction. well you know i think we're up about ten bucks a day so back around twelve hundred ten but you know the u.s. stock market is looking very weak the bond market you want to talk about manipulation it's the central banks that have been manipulating bond prices and

interest rates far more than traders were able to manipulate gold and silver but i think the error is coming out of that bubble and as this u.s. stock market implodes as more and more people realize that a massive recession that is even bigger than what we now call the great recession of two thousand and eight is actually around the corner and this credit bubble is far bigger than the one that popped in two thousand and eight that one produced a financial crisis this one is going to produce something much worse so if people actually figure this out they're going to be buying gold they're going to be by that a big way and today's small move up is just a taste of what's common hey peter can you give us just real quick take on where you think we should look at gold being i agree i think it's going to go up but i mean where would you say gold would be say a year from now. well i mean i don't know where else going to be i think it's going to be higher it could be a lot higher i mean it could be dollars higher i don't know it all depends on how

this thing blows up i think it's going to blow up in a big way this is a huge credit bubble we're going to see waves of foreclosures and insolvencies and bankruptcies not just companies but municipalities you know it's not just puerto rico we're recording this from or broadcasting from you've got a lot of major cities in the economy united states that are a couple more interest rates away hikes away from from bankruptcy and look at these on underfunded obligations the pensions the health care look at what's coming up going on with the natural disasters look at this catastrophe and in california both northern and southern california in addition to the loss of lives and the human tragedy there is a financial cost to this that really we can't bear so all this stuff is coming to a head and it all depends on when you know when it blows and what it does gold's going ballistic absolutely wreck to leave it there we hope you come back peter schiff the c.e.o. of your pacific capital thank you for joining us peter. we've spoken several times

about that fatal lion air crash in indonesia which took the lives of all hundred eighty nine people on board that boeing seven thirty seven max well now u.s. aviation authorities are investigating the aircraft maker's safety analysis on the plane and what information boeing released to the airlines those who bought the planes related to potential problems with the new flight control system which is used on the most recent version of the seven thirty seven's the u.s. federal aviation administration is also examining boeing seven thirty seven training requirements for pilots and for more on this here to discuss is former national transportation safety director jamie jamie what's the latest on this thing a sort of shocking appreciate you updating us what do we know since we were here last time sure well as we know let's from the lessons of boeing failed to. to address this issue that they have filed with their their new flight control system that that regulates the altitude of the attitude of the nose and what it does is

the new system that they designed for the seven thirty seven max series is a way to keep the pilots prevent pilots from raising the nose too high and making it go into a stall unfortunately this new system is causing this the nose to dive down because it thinks that there is a problem and then the pilots don't have enough sense of time to pull it back up and to avoid a crash i know you're at it's unfair and i get these questions to you removed from you know n.t.s.b. you're not there anymore you know and all the detail like so just speak generally how do these things sort of progressed at the f.a.a. at n.t.s.b. about what the company balling should have done in a circumstance like this and i guess not specific just generally well generally i mean i have to i have to give boeing their credit i mean they're very interested in making sure that this investigation goes well and they're being they're being full participants in this investigation and living their technical expertise that day is

a party to the investigation of the lead agency in this lion air crash that we're talking about the killed one hundred eighty nine people and in the last month that crash it was being led by the admission national transport safety committee. sitting out a report that should be out at the end of this month by international rules they were required to release some of the initial reports within thirty days of that crash so it isn't the question though jamie whether or not as you say the attitude on this is angle of attack the like scared me by talking about in the last time isn't it that it if this could happen rather than wait till we've had this fatal crash and then sending out a warning shouldn't boeing have done something preemptively well you know emily and that's the that's the biggest right now and we're having there's already been complaints lodged by the southwest. alliance pilots association and allied pilots association which is american airlines pilots of both both the unions those are unions both use of come out. lodging their complaints because they were never

informed and they haven't been trained on this and that that it wasn't even in the manual for this new aircraft jamie fitch thank you so much for being here jamie appreciate the update absolutely. and we're going to squeeze in a brief pause for the promotional cause but stay with us because when we return we look at the huge hype surrounding the new amazon headquarters location and what were the deciding differentiators plus we consider the business of the u.s. environmental protection agency which continues to have pretty pronounced personnel problems molly barrows was join us as we head to break oil prices staff there twelve days down we told you about last time west texas intermediate trade it up just a little above six fifty six dollars per barrel at nymex as does the global benchmark brant crude which trades at the intercontinental which change in europe ice futures europe in london which closed just above sixty six dollars per barrel and here are those numbers at the closing bell we.

could total more on the beach to close those troops immediately sent its shots the steadily shrinking. look to. be totally against it i said. you couldn't be sure you believe that but i'm going to have to scan to show. you the seventy's. in the perspective of the session users. so some new t. come forward summed up for.

the mummy what you called the british mr bush cuts and then we'll show you the school. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race off and spearing dramatic to follow people only personally i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk. dollars. dollars. dollars. on the dollar a dollar is what i would be. carried over here we care the music with us.

we are here we were dragged here. by your love going to get rid of those who are not go away who will not die quiet. real the hard work we do is the true. welcome back some tasty news out of europe today as

a european court of justice has denied a dutch cheese makers attempt to claim copyright over a flavor a flavor the lowball a company is thought to block a competitor from selling a product called wise women's cheese that lavalas said has a flavor that's too similar to one of their own products sold under the name which is cheese the court pointed out in their ruling that quote the taste of a food product cannot be identified with precision and up to objectivity therefore the current or the court found a taste cannot legally be treated as a work under the copyright directive. the day after amazon's official announcement on city exciting a supposed h.q. to which turned out not to be a new headquarters some critics are looking at the previously secret winning bid and calling them bad deals most notably in new york city here to discuss this controversial topic and the huge hype around the issue our noted amazon critic

council member schama sawan of seattle john grace of investors advantage and servant of commentator steve malzberg thank you all for being here and now we know that cities committed to offer the greatest incentives but not all of them one actually there if you do some quick math at one point five billion incentives from new york city divided by twenty five thousand jobs that suggest they per job sudden city of forty eight thousand dollars new york magazine today asserted that real incentive figure is more about three billion dollars but either figure is it a good deal councilman you've got a whole lot of experience an out there let's start with you what do you think. well i think the spectacle of two hundred thirty eight american cities trying to glue corporations like amazon with cash grants promised corporate tax breaks promising to behave themselves and not passing big business taxes i think this is an indictment of not only the system of capitalism but the corporate politicians that

are serving these bosses i mean the you know how craven of andrew cuomo to say i'll name myself on cuomo if that will get amazon here and i think the real point here is that the politicians in all these cities they are striving to make all all the cities participate in a race to the bottom as far as working people are concerned in order to give more and more of a sweetheart deal to amazon and bezos and corporations like them and that is why i really congratulate the working people in queens who are out there protesting and i can regulate ocasio cortez going into the new congress member for joining the people and saying that our city should be affordable and livable for us working people and not be a playground for the wealthy. well said i mean the other side steve is that all these two hundred thirty five two hundred forty localities competed in me this flight was going to go someplace and they hire jobs what are your thoughts steve.

well you know being in the belly of the beast here in new york city i wonder if i could get that which is cheese at amazon once they. open up anyway i think that the people are outraged in queens and around new york city the politicians say that the usual path to approving a deal like this or something of this nature was bypassed and they're going to court to stop it and they say it will never happen but that aside look the new york post the conservative new york post said that cuomo and mayor de blasio of new york city they got taken they got what word did they use specifically they got fleeced by base and amazon when you look at it almost three billion dollars in tax breaks and you know it can't look at it really any other way what bothers me you know like you said bart they were going to go somewhere and good for admitting that they could get a deal like this but what bothers me is now you have the small business men and

women who built up their business without subsidies without help they're now subsidizing atmos on who's going to run them out of business there's something not right about that and john i mean it seems to me that sort of between the two chasm between the councilwoman who you know wants to protect the the localities her constituents and workers and i'm wholeheartedly there and what steve's talking about which is essentially increasing the tax base there really has to be something in the middle where these localities need to demand performance before they give all these hypes all these different incentives don't you think. well yes at the same time i mean you know we like a country that's about winning right that's what we learned and we see de blasio thinks he won the looks like he was able to kind of work through some of the difficulties with governor cuomo he thinks he's won and and at the end of the day you know if it's about jobs and amazon for the most part seems to attract people who work in the warehouses along with highly skilled people who work because of the

knowledge that they have it was boston that was number one it was north agenda and new york city that was number two and three they split the difference to put fifty thousand people to work in two different locations i'm sure i'd rather work for amazon than go into the coal mine to get black lung disease so maybe this isn't such a bad deal and i will say to you that it makes sense for us to look at our education to look at where we need to be appealing where we need to look interesting to employers and move there and not just sit on your butt waiting for all of the goodies to come our way because we're so intitled we must pull ourselves up our bootstraps and and look interesting to the employers of the future and certainly amazon would be one of them right councilwoman i wonder what it is i know it's hard to separate sort of the worker rights and what happened but just for a moment tell us about your experience in amazon creating sort of an ecosystem more than the twenty five thousand jobs what happens in

a local economy when they land there what what should places like crystal city in queens expect well let's let's be clear first of all we are not against jobs and as a matter of fact the affordable housing movement in seattle includes the tech workers who work at amazon who are. apologies for interrupting the program here when are to you glad i'm a poet and now addressing the press on the last day of the asking and somebody in singapore let's cross live and listen to the russian president there's one minister . one people not aware of this level made it's ok it's normal and what meetings were the most important which ones would you highlight. would the new economic sanctions coming from the west somehow impede our cooperation with the asia pacific countries bring in any politically motivated restrictions on them and

. into the economic area do indeed. trade for the economy they. of course are an obstacle for ourselves and for our partners and for those who impose the sanctions themselves but nothing like that can stop our developmental progress our economic and technological progress that is why we're going to have to we will go do we'll continue called the ration of about twenty five percent of our trade turnover. is accounted by. asian states. of last year the growth was twenty seven percent or whatever at least a. national two hundred billion dollars trade is on the rise in all the areas. in high tech solutions for example for the family to do the smart city is the idea that it's a kind of created by singapore and this is this has to do with high technologies

which we have actually signed an agreement on free trade with. with vietnam. with india. should go to asia. and we have also had told. single poor girl. so what are you going to do historically and we've had good relations with the countries of the region and nothing nothing can stop us in this respect. and i have no doubts that the prospects are very good what kinds of meetings are were the most important well there were lots of meetings almost all of my backcountry parts with them for example i met with prime minister of japan. premier of the state council of china today prime minister of singapore and the

prime minister of career. i just had a small conversation with the president of the us as well. because she said i think i have talked to almost all of the participants of the summit is that for us to do it has done a freshly mr president you have made a long way to come here to singapore your message as you say almost everyone to all kinds of countries is very very political interests how would you yourself characterize the results of the work here them you know i spoke about that in my speech today. what characterizes this region of the world is. that it was the first we were here in two thousand and five invited by malaysia. then russia was here as a guest. and even at that time there was a certain order being formed here. in terms of relations between the countries and

it had nothing to do with the process of globalization and it had nothing to do with military blocs. at this forum we see the promotion of the idea of. unity and interconnectivity not as part solve military unions but as a global human there were no signs of globalism. because sometimes there are profitable to some sometimes they're not this is not something we look towards which is we our relations here are based on a more wide basis. and each country chooses its own way of further development and we now see that this way this path is very viable. meetings in such a format is

a very beneficial to all of us. look pretty good afternoon with charles a ribbon russian channel yesterday to your man prime minister of japan and japan in japanese. media wrote about the desire of japan to go back to nine hundred fifty six a coronation and there were some talks about this declaration can you. actually get in your was that well we. continued our dialogue with our japanese counterparts on the basis of the declaration side in one hundred fifty six this was something our japanese counterparts asked should i have said that on many numerous occasions and i'm going to say that again after the end of world war two that there was a number of agreements signed on the territory on government on state borders all these agreements are signed as intergovernmental

international documents which we believe there is not there are no problems everything that we see is based on international documents that signed. the efforts after. a world war two but as you know. poses this issue in a different manner in one hundred fifty seats you can japan and the u.s.s.r. signed a declaration which was called nine hundred fifty six appropriation just like that what does it talk about it it says that the soviet union after signing a peace treaty with japan is ready to. give to sell the islands to japan's knowing it doesn't say it was done who sovereignty is going to be. on this island so what kind of

a basis would be for this transfer of this island but the declaration stated the readiness of the u.s.s.r. to transfer the islands to japan later. both the council of the u.s.s.r. and japan agreed that. this was the way forward but then. all changed during gorbachev's times the u.s.s.r. was cited not to go through with this declaration then the japanese asked us to go back to discussing this issue as part of this declaration but. during our discussions. so. you know the shorter the individual little tips which is to with this center of gravity change so to speak we moved away from the nine hundred fifty six to corporation and today during our meeting with mr abbott. has said that japan would be ready to go back

to discussing this issue on the basis of the nineteen fifty six the corporation but this would require additional work. because as you know in the declaration itself for the nonce all the details are quite clear on the outlines the the basics of the problem and the basics of the u.s. ceasars. readiness to transfer the islands but there are no details about the sovereignty about the basis for this transferring of the islands and and so on and so forth it requires additional theatrics deliberation and work. go on and give each task use agency my question is about the desire also see. how do you treat the idea that russia could. withdraw its participation in the forum unless russian businessmen are allowed to participate and if russia is not present to them i mean you will it somehow affect

russia's authority in the world's economy and now we're told no we're not in any way affects our or our standing. in the global economy because it's primarily standing primarily depends on the economic power of the country itself on the structure i would say call me on the results achieved by they come to me which is. usually demonstrated by new technologies by the g.d.p. macro economic indicators a low level of inflation. a low level of debt. a lack of a budget deficit and of course the best thing to have as a. bill is to have no budget deficit a tall. and to have a budget surplus and we are quite confident in that respect. but platforms

like davos are very. important and when i was governor of st petersburg i used to go to davis davis all the time then when i started working in moscow or when i came the more rarely i haven't been there for quite some time but this is a very important and beneficial platform and the goal of platforms like that is to have discussions open and free discussion and it unites people. within you regardless of any political restrictions that exist between them if somebody imposes restrictions and within such a platform they are actually undermining the very idea of the platform. for our participation and. commune with the average person has a right average businessman or company that has a right to be.