how do you hide this is going bust broadcasting around the world and covering the world of business and finance and the impact upon all of us i'm sorry children we're sure glad you're on board welcome coming up today if you are a sovereign nation and secure your goal in a supposedly safe place outside your borders how safe and secure is it sarah monteith the old looks at the current circumstances which have numerous nations wondering she's standing by and we look at where a block chain will be adopted first and went with bin tech expert joe johns he's back plus you it needs china more than many may think the car coach lauren fix tells us why and help look at some bad news for electric vehicles and later we'll look at a widening u.s. trade dispute not just in china but now in india who seems to be in the crosshairs

these balls for the lead us to stand all that directly ahead but first let's get some headlines let's go to. a fight between telecom giants about the next generation of internet infrastructure leads our global report as sprint takes a t.n.t. to court over the definition of five g. u.s. based sprint has filed a suit in the united states accusing rival a t.n.t. of false advertising and deceptive acts for marketing what a t. and t. advertises as five g. a or five g. evolution telecom services five g. is heavily hyped cutting edge of internet infrastructure of course and is steadily replacing the prevailing four g. and l.t.e. technology and though the systemic transition is still far from complete in most areas a t.n.t. has been touting itself as the first u.s. mobile company to introduce mobile five g. service. but as for instance lawyers point out in the suit calling its network five

g.e. does not make it five g. in response a t.n.t. double down on their apparent misleading marketing and said they are prepared to go to court. and turning from tech to the first us tax season since the trump tax cut many urge wainer have now received their w. two forms and begun filing taxes discovering that they are paying more in taxes but for corporate tax payers the picture is very different streaming entertainment service netflix posted a record profit last year but paid no federal taxes or state income taxes in the united states in fact the company had reported they expect to receive get this a two hundred twenty million dollars federal tax rebate that's according to the institute for taxation and economic policy or e.p.a. policy group in washington i t e p listed netflix as one of one hundred fortune five hundred corporations that paid zero taxes and got

a rebate and profitable years between two thousand and eight and twenty fifteen i t e p senior fellow matthew gardner wrote online quote this is especially troubling because net is precisely the sort of company that should be paying its fair share of income taxes. and turning to venezuela's financial problems which we've discussed here many times the government of president nicolas maduro may have hit on one method of converting gold reserves in the cash bloomberg is reporting that a turkish company started as imported nearly nine hundred million dollars of gold purchased from the venezuelan state between january and november of last year and managed to buy all that gold despite having just one million dollars in declared capital now a venezuelan legislator who supports the overthrow of the elected president is alleging that an object of the company nor capital bought an additional twenty seven ponds of venice. in gold last year the legislator presented no evidence for

his quote him according to reuters though nor confirmed a purchase of three tons from the oil rich nation on january twenty first. and after last week's news that the bank of england refused to return one point two billion dollars worth of gold to venezuela to the government the federal bank there others are now wondering could this be a sign that your secure gold is so safe and secure r t correspondent sara monta oco joins us to break it down hey sara you know there has been a lot of talk about this any updates on the venezuelan gold being returned from the bank of england to venezuela well bart this isn't the first time that this has happened now late last year venezuelan officials actually traveled to london to try to retrieve our gold those talks were unfortunately for them unsuccessful now i also want to point out that in two thousand and eleven the late president hu but chavez during his era he was able to or repatriate around one hundred sixty tons of

bald back to caracas from the u.s. and from europe from england especially particularly but now we're looking at different times for venezuela where they're struggling and the u.s. is lobbying for the bank of england to withhold that gold unless it's returned to the interim president the declared president. many analysts say that this could be a message or a red flag for other countries who have their gold reserves in the bank of england because this is the first time that it's happened a former u.k. member of parliament george galloway actually spoke from experience this is what he said it is not the first time of course that this has happened i myself negotiated with the british government and the bank of england for the release of albania's gold star overthrew communism but the british were still holding on to their gold which they had seized in nineteen forty four and i tell you it took a lot of negotiating to get the gold released. the british very unreliable

place to bank your money. managing director of cold view actually david gibson said this is their property somebody else's private property it's not for you to dictate when they can use it and what they can use it for the bank of england has effectively destroyed both its credibility and trust in international eyes as a custodian now he also made an interesting point that these repatriation of gold has been something that's been going on for quite some time both the u.s. and the u.k. have had other countries retrieve their gold back including germany and back in two thousand and eleven under chavez era venezuela did the same and was successfully able to retrieve it. it's like the bank of england or others are acting like they're the parents and have the piggy bank and he won't give it to you i mean what countries are have the largest gold reserves and where are they and do you think they can get the gold if they want it will borrow money may be surprised that the u.k. isn't even on the top ten i want to break it down for you though number one is the

united states with seventy five point two percent now that's more than the next three countries combined germany is that number two you can take a look which last year completed a four year repatriation to move a total of six hundred seventy four tons of gold from france and from a federal reserve bank of new york city now number three is italy with sixty seven point nine percent they note that the metal is really a form of reserve for safety and that it gives them protection against fluctuations against the dollar number four as france which has sold a little of its gold over the past several years and by far right national front party leader has led the push to either retrieve the entire amount of gold from foreign nations or not sell any at all the number five is russia at seventeen point six percent now they've been the largest buyer of gold over the past six years and they'd be china in twenty teen but it looks like gold is really important for a lot of these countries to diversify against the u.s. dollars. absolutely troubling circumstance gold to

get money should be able to get it seems to be course one of the oka thank you so much for looking into the sir pretty good part. so if block chain is the best thing since sliced bread where will it be adopted fulsomely first and when here to tell us is fin tech expert joe don't get a welcome back joe we're so glad to have you again it was great to have you last time and we're happy that you're here and now when we last had you on the show a few weeks ago we left that block chain is at the stage of adoption where many enterprises may start to embrace it so what are the biggest obstacles for this to happen thanks it's good to be back. the main issue is scale ability so let's define

that as transactions per second right now a theory i'm a bit coin can process about seven terms actions per second that comparison the gold standard of payment networks like visa master card they were totally do two thousand a second and to repeat holiday seasons can get over fifty thousand a second so the gap sounds large however at least in test environment you're already have blocks scaling to those levels and beyond both of the bitcoin forks b.c.h. imbues v for example a theorem is going through an upgrade later this month which will also want to and hence its capability there are a lot there are several alternatives and projects that are going to upgrade the scale ability of block chains really too many to mention it at this point so. there is actually some resistance within the black community itself about there's a so there's an argument that says that decentralization and scale ability are at odds with each other i find this largely a philosophical argument the reasoning is. that the people take that stand make is that. everybody who's who's using it for payment should also be of elevator because

of elevators or miners well the block chains we've talked about that was never the case past the first few blocks they were created in other words the pace of people using it for payments exceeded that of the miners they were using it so in the good thing is a sin is that's out of this the facets of the system the better and the good thing is that it will be competed away because now there are blocks ways that can scale to those levels and they're the ones are going to get traction for the end users enter enterprise that is or are going to go and get it first i think that well ultimately the winners in this are going to be the consumers i'm speaking in the us and that's the way it should be everybody should be happy about that so bank customers will have a service that is more flexible they can use a twenty four seven in real time it'll be cheaper cross border transactions will take minutes not days they will cost pennies not dollars and overall monthly maintenance fees which can be all in excess of thirty dollars will drop in the single digits when banks use it as the back end database for their settlement

architecture and also their audit function so when you know when banks auditors and the regulators are working off the same distributed ledger that's updating in real time will that a couple of the cost dramatically. i would look for in terms of which banks i would look for the middle tier banks first as being the first adopters the large players in the space actually actually have a disincentive to see it happen right away because they're the ones who have figured out how to make money given the inefficiencies of centralized databases that need to talk to each other for example i talked about a cross border wire transaction well right now let's say that somebody sends a cross border wire transaction to somebody overseas as soon as the sender hit submit those proceeds or out of her account well where are they in the five days it takes for it to show up in the receiver's account there on the bank's balance sheet somewhere earning interest and that's called float as you know so the. the large actors in this is from don't have an incentive to see that leave anytime soon it's

good quality income for them so i would look for the middle tier players use the centralized ledgers to work around them and i would think maybe the large money center banks would be the last ones to adopt it. i think of the last thing you want to see sorry go ahead go ahead yeah go right ahead i think the last thing you want to discuss was timing when do i see it happening right all these benefits for the consumers well i don't know they're going to go see i'm going to say it's two years and i'm going to go at that from two angles one has a little more solid way of thinking about a more traditional in that. you know banks are perfectly positioned to want to adopt block to technology like i said they're ninety four percent of the households in the u.s. most people have a bank account they have the internal resources both technical and financial to adopt it and then it becomes a seamless rollout to their consumers consumers won't even know it's blocks a nor nor will they care it's still just see

a search so we're going to look at we're going to look at two years from now and make sure that that's what we're going to keep our eye on joe donkin tech expert thank you so much joe great to have you back thank you burt good to be. had time for a quick break but stick with us because when we return the car coach lauren fix is here and she's going to look at you it and their need for china and other auto news plus we look at another issue widening u.s. trade disputes as india seems to be in the crosshairs with the u.s. and before we go to the numbers i want to take a moment here to acknowledge that on this day back in one nine hundred seventy one something awkwardly called the national association of securities dealers automated quote that's a mouthful that was founded well today we call it nasdaq of course and it's the second largest stock exchange by market capitalization in the world they were also by the way the first started to have a woman c.e.o.

back in two thousand and sixteen when a ribbon took to help not to be outdone last year the largest stock exchange in the world n.y.s.e. the new york stock exchange elevated hunting him to the c.e.o. role good on both of them and happy birthday ted. nasdaq and here are the numbers up a closing bell we'll be back in a flash. as you read the stand in here from us and. our all. of whom one has. good armor on our trusty and our brother but are the four of them medicare the.

only thing that compared to my next question then you can keep an eye on what i had flu china for truffle that it didn't think. it was then our modeling punish a little subtle and. in their own mind the. members of the hey how not doing. this whole food place choice i knew you had them and pay i think time in syria says. a. lot farther than after the whole for mr hates it for jim and then oil for hope that our friend in the course. of the. what politicians do. put themselves on the line they get accepted over and checked

. so when you want to be president. or somehow want to press. the to the right to be for us it's like in the factory in the morning can't be good that i'm interested in the water using our. first sip. welcome back and we now move to auto news this is going to be fun here's a question for you eighty percent of general motors buicks the cars are actually sold in what country the answer china surprised the heck out of me some say china

is what's actually keeping the brand afloat but new rules regulations and the continuing u.s. china trade were worrying here discusses the car coach lauren fix lauren great to have you with us again thank you so much for joining us this is so hard for me to imagine i owned one of those buick boats the old do this in an order that they're not buy in those i'm sure they're not making a many more what's going on laurie. well sixty four percent of the models that they sell in china are only available in that country because remember they have a different segmentation so when they before they moved g.m. into china they actually did a survey to find out that people love the name buick because some of the acts of officials used to drive buicks of the buick brand is a ton of quality when it comes to the china marketplace remember here in the u.s. they've only got a few products and only two of them are selling well the others not doing so good but without having china as part of their base bill probably wouldn't even exist

today crazy we always talk about those joint ventures the mandatory joint ventures the partnership with the chinese companies i assume g.m. has done this in china too right. yes they have also done that because i think they have to do it it's a mandate so because of that you have to remember the chinese government wants you to purchase chinese product and although buick has value with all the tariffs and all the other factors that are in play it's entirely possible there will be an impact to buick and general motors when it comes to china and they really do need china because remember they sell twenty eight million cars a year we only sell seventeen million here in the u.s. ballpark so if you think about even though they've had a crush against their economy this is still a bigger market than the united states. and although that eighty percent of the buicks that are being sold in china are those being manufactured largely either in

china or in asia they're not they're not being built is north carolina being shipped over there of course oh they would be so expensive to ship them over there so if you're building with a partnership in china and you're selling in that country you're giving chinese people jobs but plus you got to remember the average person that owns a buick and china's in their thirty's or here it's almost twice that although buick is really trying very hard to try and lower that age range and bring more exciting vehicles in the third seat for thirty years old you're driving a buick in china i guess that means you've got it made. oh my gosh. you know if lauren i know there's news new news about the about aaa the american automobile association and they're talking about something you've actually mentioned this before on the program but about extreme temperatures in tandem with using heating and cooling systems in cars can cause a lithium batteries to discharge more quickly i mean should this new report from aaa concern those particularly in colder areas who are thinking about buying an

electric vehicle and even. it actually should not have talked about this a lot it lowers the battery life by forty one percent that's almost half so people are saying well that i just won't go as far but you have to remember in minneapolis in wisconsin chicago detroit we had those cold weather all way across new york the northeast all way across to the west coast cold weather kills batteries and i don't care for driving and evy or regular vehicle if you are at a problem with your vehicle not starting in the cold weather it could be frozen fluids and you think oh there's no fluids when it comes to a battery charge vehicle or there's fluids are right it cools the battery and it's awfully glycol which is antifreeze which is also flammable by the way that's probably why they have such problems but looking at the big picture when you're shortening the life of this type of product you have to keep that in mind and i think that's part of the reason while electric vehicles are only two percent of total sales. lauren you are such an abundance of auto information we love having you on lord fix the car and i thank so much have

a great weekend you too. and russian aluminum giant rue sol is riding high in markets stock prices for the world's second largest aluminum producer are now near a ten month high trading above three dollars and seventy cents on the hong kong exchange to hang saying earlier today boom busters may recall that result stock plummeted last april after the u.s. placed economic sanctions on the company and then owner all of their pasta today roussel rebounded sharply on a strong earnings report that came and despite those sanctions results stocks still remains well above those pre-sentence prices which was above five dollars as recently as march of twenty eighteen. and speaking of earnings hasbro the u.s. based maker of missed daljit laden toys lines including my little pony transformers and lincoln logs remember those some of you have turned in what could be termed as a less than

a less bad than expected earnings report in their first full quarterly report since toy store chain toys r us declared bankruptcy net income came in an eight point eight million dollars putting earnings per share at seven cents even as revenue fell thirteen percent year over year in the fourth quarter of last year hasbro c.e.o. acknowledged the past year was very disruptive for hasbro but hype about upcoming twenty one thousand licensed toys a disney and marvel characters seem to have excited investors and hasbro and perhaps a few business reporters also. and turning to another company with a customer base that skews a bit younger skechers the third largest u.s. athletic shoe brand had a good run in the fourth quarter of last year and seems to be in good shape so far this year on an earnings call today the company said sales came in just over a. in dollars a shade under expectations of one point one billion earnings per share of thirty one cents or past the expectations of twenty four cents. and

there is new news on trade and india may be in the crosshairs of a trumpet ministration every ports of surface that india could lose key components of their trading relationship with the u.s. under which they now have no tariffs zero on five point six billion dollars worth of exports to the us the report comes as the trade dispute with china appears to be widening to more asian nations here discusses conservative commentator steve malls per se thank you so much for being with us this isn't good news for india and it may not be for the u.s. given india is the fastest emerging economy on the planet listen to what president trump had to say on this and something like whisky from india and other things from india it is very high tech they charges a lot of us but if you look at whiskey so when you guess one hundred fifty percent and we get nothing. i will tell you that those are just

a few of the products is actually much worse than that as bad as. steve is this india the new target president trump what do you think. well. there are now a targeted president and for good reason you know india since one thousand nine hundred seventy s. has been the beneficiary of what's called the g.s.t. the generalize the system of preferences where they pay no tariffs that's why he said we get zero no tariffs since the seventy's and now we're trying to negotiate a new trade deal with india and in the words of our u.s. trade representative there raining on the parade they've made it more difficult now for e-commerce to take place in india if you're from the united states and elsewhere and we've talked about this we've talked about amazon trying to get into the indian market and wal-mart buying flipkart and how difficult it is now because india is passing laws and making new rules and regulations that are prohibited and

this is coming up as an election by the way is about three months of the future in india so they are listening to the people's complaints and and want to shore up their base as they run the president the prime minister of india but there's more they want master card and visa and other companies to keep data stored in india which is also prohibited and there are increasing tariffs on electronics and smartphones and other things so the united states is saying hey we may read can figure this g.s.t. or eliminate it altogether and what india fears is that in a new trade deal trump will say guess what we don't want any tariff charge on american goods going into india so it's one big mess but trump is taking it on. that makes me think of two things one is that you talk about the election coming up in april and may and this sure adds another element of risk for the politicians there they've we already reported on that scandal about the unemployment rate being

suppressed from twenty seven teams and it also seems steve like the indians may be moving towards some of the chinese policies with regard to putting up barriers to entry you know not a good time to do that it seems to me no you know i know you wish that we get this thing solved so why with china but two things one u.s. treasury see if i'm a new should will be in beijing next week for trade talks of the president says he's not going to meet with she didn't ping until after march first the deadline for the trump we've only got about sixty seconds what do you think's going to happen steve well you know we were all led to believe and i think the markets were led to believe and have been operating on the assumption that things were going along if not great at least cordial and pretty good heading towards that meeting with trump and the president china she and there would be some kind of either extension of the deadline or some kind of agreement in principle something and yesterday we find out no meeting larry kudlow says there's still

a great distance between the two sides but there are reports today that if the meetings go well with minutia and his chinese counterparts in china next week that maybe a meeting will take place between trump and she but also next we look for the president to sign an executive order banning chinese electronics from being used in all american wireless networks which will not make china happy. we need to talk about that more we're out of time for this time thank you so much dave have a great weekend my pleasure you too bart. and that's it for this time you could catch bone bust on direct t.v. channel three twenty one dish network channel two eighty we're streaming twenty four seven on pluto t.v. the free t.v. app of course channel one thirty two hours always hit us up at youtube dot com play one boss r.t. so long for now see you next week.

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was. i feel. i. violin some tear gas in the french capital markets thirteen straight weekend against falling living standards fruit testers calling recently ripped press and

government. also coming up with venezuela in the throes of a huge.