part of. this is going bust broadcasting around the world and covering the world of business and finance and the impact on all of us i'm bart chilton q i'm coming to you from chicago today and we are grateful and glad that you are on board with us coming up today we get a report from buenos saris where the g twenty meeting is being held from our team scottie nell hughes plus there's hot crypto news including a sleazy scam christie i have counterpart x.'s back and later there's some of amazon news the giant retailing read again also makes money from a place you might not expect holland cook host of the big picture here in r.c. america and the c.e.o. stroke mark over tours which will be with us all that coming up but first we get some headlines let's go to. banks breaking bad lead our global report today is scandals where around deutsche bank and dansk a bank on thursday morning

a total of one hundred seventy german federal police and prosecutors raided and searched six separate deutsche bank office locations in germany including their headquarters in frankfurt the price of deutsche bank stock fell three point eight percent on the frankfurt stock exchange on the news in a statement on the action the bank confirmed what many suspected quote the investigation has to do with the panama papers and today in berlin deutsche bank spokesman george anggun door had this to say on the investigation. yvonne don i live i live and we believe that we have provided all relevant information to the authorities regarding the panama. of course we will now cooperate closely with the public prosecutor's office in frankfurt it is also in our interest to state the suspicious action quickly and entirely clear in recent years that if we're going to be done proving that we cooperate closely with the worries and we're willing to do so again and when we have new information we will inform you as soon as possible

and you know and for months prosecutors say they suspect two specific bank employees as well as an identified supervisors failed to report illicit transfers of get this three hundred eleven million euros roughly equivalent to three hundred fifty million u.s. dollars to the british virgin islands back and twenty sixteen more broadly they are examining the period between twenty thirteen and twenty eighteen for evidence of alyssa transactions the law enforcement action is a body blow to the bank which was already wobbling after several years of diminishing returns because in part by a steady drip of scandals and settlements regarding money laundering and so-called toxic mortgage securities prosecutors said denmark has unveiled long expected charges against dansby the nation's largest bank over the suspicious transactions involving the movements of two hundred billion euro's that's about two hundred thirty million dollars through their now notorious branch in a stone boom busters riccardo our precious our previous reports on the scandal to

be clear prosecutors have now only charged dansby as a corporate entity meanwhile prosecutors criticize actions by the bank's board in the case and said they are considering whether criminal cases can be made against individual employees the danish minister of business ignalina via twitter the affair laundering case is deeply serious and that is a reasonable and necessary thing that dansby bank is now the target of the police and turning back to germany's the government a chance for enjoy. merkel affirm through a spokesperson on wednesday that germany will proceed with the north stream to energy pipeline project we've spoken about on the program before the pipeline is a murse an international intrigue of energy politics and others are are there to ensure a path to western markets for russian gas and effectively bypassing ukraine currently in a simmering territorial conflict with russia a recent confrontation at the sea of the sea between russian and ukrainian vessels

significantly raise those tensions between the neighboring countries and earlier today president donald trump cited russian actions in can flee is meeting with russian president vladimir putin at the g. twenty summit in argentina will have more of that in a moment the german economy minister later pushed back on critics who suggested proceeding with the pipeline might harm efforts to deescalate the russian ukraine dispute saying the pipeline and the conflict are quote two separate questions and continuing our jaunt in to germany today famed dragan biotech company by air a.j. has announced plans to cut twelve thousand workers from their current payroll of one hundred eighteen thousand workers the job cuts are possible of a possible sale of assets including dr scholz foot care brand and coppertone sunscreen are part of buyer's effort to regain investor confidence after losses incurred due to the sixty billion dollars acquisition of agribusiness and chemical giant months santal most notably as we've discussed here in the program before

lunch santos herbicide glide posts eight has become an albatross around buyers neck after a two hundred fifty million dollar judgment against one central later reduced to thirty nine million in a suit filed by a formal school grounds keeper delaying johnson mr johnson blames his workplace exposure to life will say for his aggressive terminal case of non hodgkins lymphoma and many similar suits are now pending. and we've been talking about the g twenty. the meeting in buenos aires argentina for months and there is still a lot of anticipation and the main events haven't even begun but we are there are two scottie nell hughes host of the new news views and hughes gives us a report from argentina where as we mentioned earlier donald trump has canceled his meeting with russian president vladimir putin. now the effects of the cancelled meeting by president donald trump are to president putin is still trying to be figured out as this was a schedule that was just announced just

a few hours before by the kremlin so now his other leaders are trying to figure out how this is going to affect their meetings with each other i do know one thing that that family photo that they're all supposed to take together just a little bit more awkward now prior to this the awkwardness was going to be coming from the form and from the interaction with the saudi crown prince mohammed bin a soundman a lot of people were wondering how were they going to react were they going to be seen taking a picture with them or standing next to them now and prior to all of this events happening the prince salman was actually the one that most people were worried about in fact he actually arrived two days prior to the summit which was a little bit interesting considering of last year he did not even attend now on monday here in argentina the human rights watch fire filed with a local federal judge here in argentina request saying that he that m.p.'s need to be held for war crimes in yemen as well as the murder murder shogi one of them

actually to look into it now in response that that same federal judge turned around asked argentina's foreign ministry to seek information from turkey and yemen in regards to the international criminal court regarding these two events so there was already some judicial issues that were happening here within argentina that we don't know nesta that's why the crown prince decided to come in early but what we do know is that other foreign leaders had already announced that they do plan on meeting with crown prince solomon and making in it with army to make sure that things were interacting things are moving forward among the meetings that were already scheduled with him or actually french president mccrone will be meeting as well as you saw the president trump even said that he would be willing to meet with them now n.b.s. did reach out to the turkish president to say that he would also like to meet so lots of meetings going on with some and so m.b.'s which means his dance. getting full and maybe now that president trump has a few extra hours on his dance card a meeting that said wasn't going to happen or could possibly happen now can take

place that being said moving forward you also look at how the affects of president i will trump canceling his last mccance at the last may his meeting with president putin is going to take on his meeting with china that is very important going into this as a new term has it been said that they want to focus on not necessarily three trade but free and fair trade is what they want the united states it wants to be with china and all the other countries now this goes mainly into effect starting on friday when they actually when the leaders of mexico canada and the united states gather to sign the monumental and historical new treaty that support to replace nafta now there's still some little parts that need to be worked out but they're sort of going to hold this ceremony for the new agreement thinking that maybe this might be a good time for it meanwhile though this question still remains in the air of china what's going to happen how are they going to be able to solve this trade war with the january first deadline that's happening so lots of things are going on but once

again we have a lot of questions right now as we still try to kind of figure out what exactly is going to happen between that awkward family photo between vladimir putin and president donald trump maybe we'll find out in a tweet back to you bart. and there's new crypto news and some of it disconcerting here to help us out is our friend the co-founder of counterpart christie i hate christie i'm glad to have you back with us i woke up to this major news about this c.e.o. at a blog chain scams to really like four million bucks but he's been caught tell us about the case yes so mr ries is the founder and c.e.o. of this new i see a company. arise bank and so this bank was supposed to be revolutionary it was supposed to be the first centralized banking platform it promised all sorts of

features including that like capabilities it had a partnership with it was f.d.i.c and shared as opposed to the first insured bank for cryptocurrency holders so this was actually a very revolutionary idea so a lot of investors jumped on board for a total of four million dollars during the i c o fund raising period but unfortunately due to circumstances we found that this was not the case he came out and said he raised a total of six hundred million but when he got raided he actually only collected four million dollars and that was actually spent on no block chain activities at all no actual company building activities but rather on hotels expenses clothing and other luxury goods for himself so this is actually very concerning because this is not the first scandal that we've had in the space and that has actually brought a lot of criticism to the entire space as a whole and a lot of bad press and attention due to these few bad actors. let me ask you a little bit more about this and you may not know all that i apologize if these are

tougher than that they might be kristie but i mean so they were in this deal with visa and i assume and they were allowed to transmit money back and forth at least that was the plan so that's really that requires you know f.d.i.c approval and so it sounded like they were at least in theory were doing a lot of the cool things that you and i have talked about about being compliant and blocked kryptos being sort of burst in the institutionalized financial system but in this case it was just a scam right partnership was non-existent and that's why we definitely encourage everybody to do their due diligence on these companies to verify that these partnerships actually exist. oh boy yeah. geez that's crazy you know in general kristie we've spoken about these sorts of things before but kryptos bitcoin they've been sort of a breeding ground for remember the drug pirates. the silk road where all these nefarious activities because you can't track you know the kryptos because you can

track drugs actually drug trafficking trafficking weapons trade even human trafficking but a lot seems to have been rooted out over the years but how do you really judge the state of the industry trying to keep the crooks away kristie yes so the d.a. actually did put out a very interesting report awhile ago in two thousand and thirteen when they looked at it cryptocurrency transactions ninety percent of it was used for nefarious actions on silk road for drug trafficking and a lot of other illicit activities ninety percent of transactions which is quite a lot but then last year when they reevaluated it came down to ten percent so the industry actually changed a lot so now nefarious activities only make up of ten percent of the total transactions and that's across bitcoin at the area and they're all dash all of them as a whole so the industry quite shifted a lot and a lot of that is because new institutional money is coming in and there has been a lot of legislation coming down on it and also people are becoming more sophisticated so whereas before. cryptocurrency was only used for people who are

tech savvy and people thought of it as anonymous however now that people can look into the block and letters we figured out that they claim it isn't as anonymous as people think they are so it's actually a very bad tool to use if you want to actually use it because it's actually being broadcasted into the network and i know a lot of these endeavors ones that i'm working on the ones that you work on it counterpart actually are are doing the a.o.l. the m i money laundering and the know your customers stuff so they are complying around the world starting to speaking of dirty deeds done dirt cheap in the crypto space here's a great quote from today's somehow bitcoin has lived in a swamp and survives that's from jeff sprecher the chairman of the new york stock exchange and the intercontinental i know jeff he's a great incredible innovator i was pleased to see that he thinks crypto czar here for the long term despite the prices what do you make of his quote kristie i think he's absolutely right because pricing is going to be irrelevant once everything the industry gets built out and that's exactly what he's invested in when he's been

when he's been on back to to launch next year in january. actually hey kristie so great to be have you with us again sure appreciate hope you'll be together next time but thank you that's christy are the co-founder of counterpart x. thanks christi thank you for having me. and trying to squeeze in a quick break but hang here because when we return the giant retailing renegade amazon also make some money from a place you might not expect the c.e.o. of strong marc hill report which of holland cook go to the big picture will be with us as we go to break your other numbers at the closing bell we'll be back in a flash.

i go to a place called camp sundown camp for people that can't decide and they're like so vampire camp this is like a safe house i guess they don't have to talk about what they go through but that's because we understand her daughter katie was diagnosed with a very rare sun sensitive condition if i get sunburned i heal she doesn't feel patients when they have problems with the walk to talk to some of the brains that are actually shrinking inside the skull gets thicker in the branscombe small. the pain is indescribable it's feels like a really really bad chemical burn but it goes through your skin in your muscles always down to the bone and there's no relief. so we're just not sure this

is just. donald trump firing shots of a meeting with vladimir putin doesn't seem like a big deal given the already poor state of affairs between the two countries most of the manner in which it was cancelled over twitter may sting the kremlin more than the cancellation itself is the mythical trump truth in a bromance finally over. you know world's big partners movie lot and conspiracy it's time to wake up to dig deeper to hit the stories that made history media refuses to tell more than ever we need to be smart we need to stop slamming the door on the bats and shouting past each. it's time for critical thinking it's time to fight for the middle for

the truth the time is now for washing clothes for watching the hawks. when a loved one is murdered it's natural to seek the death penalty for the murder i would prefer and it be illegitimate death penalty just because they think that's the parent thing the right thing research shows that for every nine executions one convict is found innocent the idea that we were executing innocent people was terrifying there's just no mood to present and then we hear even many of victims' families want the death penalty to be abolished recently after the death penalty here is because that's what murder victims' families what that's going to give them peace that's going to give them justice and we come in saying. not quite enough we've been through this and this isn't the way.

welcome back music streaming service spotify has announced plans to expand operations into thirteen new national markets including india spotify hopes to entice indian music fans to eventually become paid subscribers by extending their free trial period for indian listers beyond the usual thirty days according to the u.s. business trade publication variety which broke the news while india is clearly a huge market some of their first question whether spotify will be able to convince enough of those consumers to pay for ad free service will stay tuned to hear if spotify in india make a musical match worthy of a famed bollywood philby's song or the company ends up singing the blues. and

finally completing our german jaunt today the federal cartel office in berlin has launched an anti-trust investigation directed at us based online mega retailer amazon cartel office president andres month said the decision to investigate is meant to address amazon's alleged anti-competitive policies and practices regarding treatment of third party vendors on the platform mr blunt said amazon access kind of a gatekeeper to customers the double role is biggest trader and biggest market place means there is a potential to impede other traders on the platform in september e.u. competition commissioner margaret vest of your announced an investigation into amazon's use of data it tames from those third party sellers and sticking with retailing renegade amazon what might surprise some is another revenue stream of the company to discuss we are pleased to be joined by the c.e.o. of strong mark hillary ford which and holland cook host of the big picture right here in r.t. america hillary but let's start with the hollande i want to start with you actually

we've talked about cloud computing and that is the area that suspense is going its cloud computing but how big a deal is this for amazon at all and well it's very big read an analysis from jefferies that said they're headed for a three hundred fifty b. billion dollar valuation think about that nine zeros and it's the plumbing largely invisible to the end user that's behind services like netflix capital one expedience kellogg's on call sam amazon web services is a big vendor to the department of defense and they're actually go in b. to b. in a very visible way because you're seeing commercials for us on t.v. inviting smaller businesses to use the platform because hey it's already set up and runs like a swiss watch. hillary. tell us what you think about this whole different

revenue stream you know khalid spoke to it but you don't cloud computing is a big deal for companies it is really big for amazon right absolutely huge bought in fact the only way it now has grown so foster over the last decade that it's the fifth largest computing company in the world so that's only behind microsoft i.b.m. oracle n s a p and it's chasing them really fost seventeen point five billion in sales and of course in terms of cloud infrastructure it's still dominant and google microsoft etc chasing it but yes vos seventeen point five billion. you know hilary we talk about privacy all the time and you know i just wish i didn't have anything going to the cloud i mean these clouds are just like they're just full of your private information will become as those as those become sort of more relevant to the people do you think good companies which provide these large cloud computing services to other businesses will face larger pushes from regular forces from

regulation well they ahd bought if you don't like the cloud and you don't like any of the information being shared you're just going to have to use a pen and paper and you going to have to go to the store with it with a dollar bill because there's no way to get around it of course and everybody is letting go of their privacy i think something to think about is it differs from country to country i mean in england now they have the investigatory act in the us where governed by the pattern of act and you know n.s.a. is everywhere i mean nations now you could call it spying on their citizens but a lot of it is for protection it's very intense in france so i would say the u.k. france and the u.s. the most let's say with a with a highly it's watched in the western world and then russia is even more intense. and holland i want to talk a little bit about retail you know we spoke about black friday reached a record cyber monday this monday reached record sales and amazon was a prominent player there how much was their take well as a wide angle shot on this is very unsurprising because of the convenience and the

cost factor in e-commerce on thanksgiving day all the shopping three point seven billion dollars that's up twenty eight percent over last year cyber monday almost eight billion it was amazon's biggest day after they sold one hundred eighty million items interesting really the two best sellers on amazon over these five days from thanksgiving until cyber monday were amazon echo dot meaning the least expensive hockey puck shaped alexa device and michelle obama's book so those are the two big out of the gate deals but no matter where you are shopping online i have a sneaky but legitimate shopping tip if you find something you like put it in your shopping cart and then leave the website because chances are you'll get an e-mail with an even better offer later and it goes to what you were saying just before we

came on all of this data is being gathered the privacy problem is for real but there is a silver lining too to it. yes i have to work the system unfortunately boy hillary what were the who are the other retailers or which are the other retailers out there who raked in some big dough during this heavy holiday shopping beginning the season well actually nothing that was too surprising by kmart did really well as did. not but i would like to add when you mean before the whole holiday season how what percentage of sales are going to be online hallen just said twenty eight percent which is absolutely correct so i was wrong i had predicted thirty percent i was two percent off but i you want you one the price is right and yes and you know if you are good two percent off but our home is made a very good point about putting things in your boss i had never heard that tape so i think all of us have been column one over doing that now. with holland you were

telling me when we spoke about this yesterday i guess it was that how amazon is making money from ads sort of a did something that i didn't expect explain that to all the boom busters yeah this time of year obviously the online shopping is conspicuous and it's really just the tip of the iceberg because what's below the waterline with amazon is big business we talked about the cloud computing amazon is now the number three in online advertising behind google and facebook and gaining fast their revenue is on pace to double this year five point eight three billion dollars and the forecast is that in five years advertising on amazon is going to be twenty eight point four billion which adds up to more than all of the t.v. networks on earth and you see this an ad panels adjacent to what you're searching for you see it in customer reviews and amazon generated emails and it keeps

coming back to the point that you originally made it's all about the data artificial intelligence and they have. them to know what their customers want and to put it right in their face. it's just amazing and somewhat sickening when i think about it hillary how do you expect the rest of the holiday shopping season to ghost goes strong as we began yes it will because actually forty percent of all holiday sales occur over thanksgiving the whole thanksgiving from black friday and now they're saying actually that brought black friday is no longer sort of one day it's the front whole five day holiday period so they say that it's going to be this year the biggest in all of history in terms of sales wise i think every prediction is coming into that forbes just made a prediction that's going to be correct so yes i would totally agree it's going to be the biggest sales season ever to hilary just real quick do they do black friday in the u.k. there's no such thing as thanksgiving we have harvest festival but it's nothing as

big as a holiday that is very beginning on which doesn't exist which is rather lovely in england you have boxing day right after christmas day traditionally it was because the hours doxie took boxes of gifts to all of their servants and they used to serve their sevens but it's lovely because you could have those two very special holiday days and if you're divorced and your children can go to either place or if you're married you can go to either family and that's a huge day ending on boxing day but not a sales holiday crate c.e.o. of straw mark kilroy ford which ends the intrepid host of the big picture right here in r.t.f. america khalid cook thanks to you both bring it all. and that's it for this time you can catch boom bust on direct t.v. channel three twenty one dish network channel kuwaiti or streaming twenty four seven on pluto t.v. that's the free t.v. at channel one thirty two or as always hit us up at youtube dot com slash boom bust r.t. so long for down. you

know. i'm a little but i threw my she might then send it out by going to one then when there's a real buddy. on one night you should have been there so. i don't want that or i can't listen to me as i knew she needed that community yeah i am kind of cool keep it tuned and have to keep. going i may have to move on to follow the one that you know enough to vote for out of the.

fact a recent poll of gallup poll shows fifty seven percent of americans want to more cooperative relationship with russia so there's a disconnect that is smart politician democrat would understand the needs to be seen because there's not a lot of hunger appetite for this kind of any russian politics is being fanned by a media political establishment. us veterans who come back from war often tell the same stories. were going after the people who were killing civilians they were not interested in the wellbeing of their own soldiers either there are already several generations of them so i just got this memo from the circulating branches off that says we're going to attack and destroy the government and seven countries in five years americans pay for the wars with their money others with their lives if we were willing to go into harm's way and

willing to risk being killed for a war then surely we can risk some discomfort for an easy for us. subscribe to roughly pass and get all roughly content for just twelve euros fifty per month. that's why political tension is gripping the g. twenty in argentina nonetheless for him approaching a happy to meet and greet other leaders in a positive start the proceedings even though donald trump council that much anticipated face to face with the russian leader we'll tell you all about that coming up also.