xoom with purchases of $20000000000.00 of the eurozone debt per month the bank says the new policy will quote run for as long as necessary interestingly outgoing e.c.b. president mario draghi who is preparing to pass his portfolio to current i.m.f. managing director christine lagarde clearly indicated he expects elected policymakers to make the next moves to stimulate the flagging euro zone economy saying now is the time for fiscal policy to take charge mr draghi discuss the cause and contacts for the new policies because the protracted slowdown in the eurozone economy he's actually more marked day in expected this the 1st element. the 2nd element is the persistence and the persistence of downside resells trade nature by the geo political nature in the eurozone. and checking in on virtual currencies and the growing push for regulation the french finance minister

is reinforcing his government's hard line against facebook's plans to launch their own digital currency libra which specialists are eager to point out is not actually a crypto currency joining us now just doesn't tell is cryptocurrency analyst ben swan then it's good to have you here keeping the virtual currency be hot while christie is on assignment so 1st of all ben let's just get to the basics here what did the french finance minister bruno lemaire have to say about libor he seemed to make a really sweeping statement of opposition to it. yeah he's very opposed to it what's interesting about his statement is it was really focused specifically on libra and not digital currencies or even the broader spectrum of crypto currencies that are out there and i think the reason for that is because it gets into a statement is really focused on facebook as an entity saying that all the asli you know france needs to have solver and monetary policies and protect their sovereign monetary supply we can talk about that a minute but he also specifically talked about facebook as an. entity saying that

the european union in france specifically has not been able to trust facebook in the past for the things that it says it would do versus what it's actually doing and so why would we trust facebook when it comes to currency i think there is you know obviously i'm going to disagree with him in terms of of trying to outright ban crypto currencies but i think there's a valid point to be made there about the way thanks because conducted itself as a tech company if they were to apply the same kind of principles and business practices to their currency libra i think there would be major questions for a lot of individuals and even governments to say can we really trust what you're doing and while france is visibly most visibly opposing libor others are notably cool to it as well the governor of the bank of england mark carney said he would engage libor with quote an open mind but not an open door is it time to question whether this project really will ever launch. well i think it's hard to say look i think at this point it will ultimately launch and i think the reason for that is

because of the backing of the corporations the fortune 500 companies that are really powering libor and so what mark zuckerberg is very smartly done and what libor has very smartly done is they've not made it soley a facebook project but they have brought in these other fortune $500.00 companies which i in the past referred to as the legion of doom but i don't think it's necessarily a positive that all these fortune 500 companies are there i think the real question daniel becomes who actually runs the world is it these governments that will have the ability to keep libor out or will these fortune $500.00 companies ultimately say we're the ones who actually run the world we're the ones who run these countries and we will be the ones to push this project forward and i act the way to really do that is to give more ownership and stake even at times possibly to government or into nice to be part of this liberal association we may see that happen very interesting cryptocurrency analyst ben swan thanks so much for joining us again your thanks.

in trade war news the united states has reciprocated for china's recent announcement of some exemptions on terrorists for certain u.s. products u.s. president donald trump announced the a twitter on wednesday evening that a 5 percent increase in tariffs on chinese imports that was set to take effect on october 1st will be delayed by 2 weeks mr trump also tweeted that the delay had been implemented at the request of chinese prime vice premier. just as he just for a good will and recognizing that october 1st is the anniversary of the founding of the modern people's republic of china treasury secretary stephen newton also discussed the scheduling symbolism. and this was an issue that october 1st had a big significance to them which was their 70th anniversary the vice premier asked us to delay it and the president agreed to that i would hope that for separate

states but this wasn't done this was done as a good way. to the chinese despite the chinese flexibility and u.s. deference to a chinese patriotic holiday no breakthrough is expected when u.s. and chinese negotiators sit down again later this month ahead of higher level talks in october. and in another sign of ever being made to resolve the u.s. trying to trade 5 bloomberg reports that china may resume purchases of u.s. agricultural products such as soy and pork as reported here a 46 percent increase in the price of pork was a significant contributor to the most recent wantonly inflation increase of 10 percent overall meanwhile chinese pork productivity has been decimated by the recurrence of an outbreak of swine fever joining us for an update on that growing regional problem in the state of transpacific ag trade generally is fred kaufman author of bet the farm how screwed stop being food all come back fred. hi daniel now 1st of all fred on the trade fight do you think we will see much of

a reprieve for u.s. farmers with this resumption of china the chinese ag purchases next week. listen that we don't know if it's a resumption or what we understand is that there is certain people in china who are taking a look at spot prices that doesn't that certainly mean they're going to resume buying at united states pork i mean ever since south america particularly brazil has been selling all the pork right from under our eyes because of our tariff you know we don't know what's going to happen next i think what's going on is that president trump is very concerned about the market and he knows that any time there is a sense that we're going to have some sort of agreement and it looks like we're heading in the right direction the market goes up as it did today because of these rumors don't count on it and don't bet on it. and of course china has been a large and growing market for us going pork among other commodities losing the market or even a significant portion of it would be a gut punch for struggling u.s.

farmers and president trump is by all reports keen to maintain his stronghold of support among rural white voters but that his desire to keep them happy seems to be in conflict with his compulsion to always be seen bending others to his will when the chinese seem to chime in above all 10 children will not be pushed around so what is your sense of how this growing economic crisis for u.s. farmers will play out politically when so many farm families are already on the edge. well that's the question that's that's the $60000.00 question right now is how much pain and suffering can u.s. farmers in the midwest take how much pain and suffering can iowa poor farmers take the fact of the matter is last year pork exports to china were up all across the globe except in the united states where they're down 2 percent in brazil just last year they're up almost a 3rd and so once again we're just seeing pain upon pain and now that we have 100000000 fewer. or poorer in china fewer swine you know what they just do not need

as much soybean imported right and so the fact that they're saying well maybe we'll imports and soybean no they're not we'll never get those markets back it's very unfortunate and back on pork if you're a carnivore you probably love toward china certainly does we know that enough so that there are official government stockpiles of the meat we know about the inflation impacts which may have convinced local governments covering a population of 130000000 people to start thawing out some of their reserves of frozen pork and now my question is are we on the verge of seeing this factor of pork prices start to have some interactive feedback if that's with other act aspects of the chinese economy and is there any sign of progress in the regional fight against swine fever across southeast asia. well those are a number of questions 1st of all the consumer price index in china used to be a lot more closely tied to pork it was about 10 percent of the consumer price index it is now down to about 2 percent so sometimes pork goes 1st sometimes the consumer

price index goes 1st so although they are tied they're not as tightly linked as they used to be that gives china a little bit of leeway this weekend is one of chinese china's great festivals as they're made autumn festival and traditionally every family in china is going to eat meat and when chinese say eating meat that means eating pork and that is why china has found it necessary to release you know millions of tons of pork from their reserve how much reserve they have is of course a state secret no but nobody really knows but that's what's going on right now is that they're releasing some of the reserve particularly in guangzhou out so that people can have their pork this weekend and they can have their mooncake festival as per usual training pork reserves as a matter of national security that seems like a pretty sound policy. and finally on plight of u.s. farmers again we learned this week that the number of americans refutes seeding snap benefits still known better known to many as food stamps declined by 6700000

since january 2017 spending on the program was $26000000000.00 lower in 2019 versus 2016 and the white house wants to drive that number even further down by restricting eligibility increasing paperwork are we seeing declines in snap spending start to overall demand and will these future cuts have an economically significant impact. well i think it's a i think it's a big problem and every start talking about cutting snap benefits that's kind of want to what for our most vulnerable people for children for old people for disabled people for veterans day they need that that monthly hit for their for their food and so i thought i really do think that talk about cutting these benefits is really just political there is there is no good and valid economic reason for any of this. fred kaufman author of bet the farm thanks so much for joining us thank you daniel. time now for a quick pause but stay tuned because right after the break. them out of what we say

to them because they don't care they don't care about my son's life they don't care about anybody's life except their pocket that's all they care about you know the slapping them with. the billions of dollars isn't going to stop them. do pharma has reached a tentative settlement in the expanding opioid epidemic but residents of affected areas are skeptical about the solution. contributors from america's boy are standing by to break down the latest moves in the crisis. to singapore where christie managed to catch up with way to the c.f.o. of the finance exchange to give us an industry outlook on the such are and as we go to break here are today's market numbers at the close.

of the day. when we're hoping that both sustainable growth this is the broken system that they were the pundits not only. grow the number of tourists it was just an abilities so it's in the world war which is mounting bonuses between and were immense and you'll recall. and. ration again over nature in most rishonim. this is the world and this is going to manage them in

a circle michelle going to. the attorney did a good dentist and brad pitt says the bad news in yemen to the united states. the look to those who work in syria the cia and the u.s. military were engaged in covert actions really throughout the world. where they were assassinating populist leaders they were backing up right wing military funding an army of death squads there's no. war because there's always a small people for a really good. profit. and .

this is boom boss broadcasting around the world and covering a 21st century global economy on down your burrito in washington kristie i is in singapore an assignment here's a look at what's in store for today's jam packed show there may be at least a little relief for china's poor problem is tainted trade tensions have eased in light of trade talks with the united states fred kaufman author of the farm joins us to give an outlook on course in the people's republic was. a slap on the wrist oh absolutely it's not going to stop the sacrifice because somebody makes and you need to. that's nothing to. do farmer has reached a tentative settlement in the ever growing opioid crisis but residents of the affected areas are skeptical molly barrows contributor to america's lawyer is

standing by to break down the latest moves in this tragic epidemic plus we take you back to singapore where christiane managed to catch up with a way to the c.f.o. of finance the finance exchange to give us an industry outlook on the sector. it's good to business mindset here comes boom bust let's go. major economic stimulus for europe leads our global report today as the european central bank unveils a long anticipated policy package of interest rate cuts relax credit terms for banks and bond purchases and e.c.b. statement indicated that they are key interest rate would be cut by 110th of a percent that is going further into negative territory to negative point 5 percent the e.c.b. also confirm that the policy of so-called quantitative easing which only recently came to an end after many years will resume with purchases of $20000000000.00 of the eurozone debt per month the bank says the new policy will quote run for as long

as necessary interestingly outgoing e.c.b. president mario draghi who is preparing to pass his portfolio to current i.m.f. managing director christine lagarde clearly indicated he expects elected policymakers to make the next moves to stimulate the flagging euro zone economy saying now is the time for fiscal policy to take charge mr draghi discuss the cause and contacts for the new policies because the protracted slowdown in the eurozone economy he's actually more mark day and expected this the 1st element. the 2nd element is that persists and the persistence of downside risks of trade nature by the geo political nature in the eurozone. and checking in on virtual currencies and the growing push for regulation the french finance minister is reinforcing his government's hard line against facebook's plans to launch their own digital currency libra which specialists are eager to point out is not actually

a crypto currency joining us now to discuss in detail is crypto currency analyst ben swan then it's good to have you here keeping the virtual currency beat hot while christie is on assignment so busy 1st of all ben let's just get to the basics here what did the french finance minister bruno lemaire have to say about libor he seemed to make a really sweeping statement of opposition to it. yeah he's very opposed to it what's interesting about his statement is it was really focused specifically on libra and not on digital currencies or even the broader spectrum of crypto currencies that are out there and i think the reason for that is because as he gets into his statement he's really focused on facebook as it into the saying that all the asli you know france needs to have solver and monetary policies and protect their sovereign monetary supply we can talk about that a minute but he also specifically talked about facebook as an entity saying that the european union in france specifically has not been able to trust facebook in the past for the things that it says it would do versus what it's actually doing

and so why would we trust facebook when it comes to currency i think there is you know obviously i'm going to disagree with him in terms of trying to outright ban crypto currencies but i think there's a valid point to be made there about the way things because conducted itself as a tech company if they were to apply the same kind of principles and business practices to their currency libra i think there would be major questions for a lot of individuals and even governments to say can we really trust what you're doing and while france is visibly most visibly opposing libor others are notably cool to it as well the governor of the bank of england mark carney said he would engage libor with quote an open mind but not an open door is it time to question whether this project really will ever. launch. well i think it's hard to say look i think at this point it will ultimately launch and i think the reason for that is because of the backing of the corporations the fortune 500 companies that are really powering libra and so what mark zuckerberg is very smartly done what libra

has very smartly done is they've not made its wholly a facebook project but they have brought in these other fortune 500 companies which i in the past refer to with the legion of doom but i don't think it's necessarily a positive that all these fortune 500 companies there i think the real question daniel becomes who actually runs the world is it these governments that will have the ability to keep libor out or will these fortune $500.00 companies ultimately say we're the ones who actually run the world we're the ones who run these countries and we will be the ones to push this project forward and i back the way to really do that is to give more ownership and stake even at times possibly to government or into nice to be part of this liberal association we may see that very interesting cryptocurrency analyst ben swan thanks so much for joining us daniel thanks.

in trade war news the united states has reciprocated for china's recent announcement of some exemptions on terrorists for certain u.s. products u.s. president donald trump announced via twitter on wednesday evening that a 5 percent increase in tariffs on chinese imports that was set to take effect on october 1st will be delayed by 2 weeks mr trump also tweeted that the delay had been implemented at the request of chinese prime vice premier you just as a gesture of goodwill and recognizing that october 1st is the anniversary of the founding of the modern people's republic of china treasury secretary stephen newton also discussed the scheduling symbolism. and this was an issue that october 1st had a big significance to them which was their 70th anniversary. the vice premier asked us to delay it and the president agreed to that i would hope that china reciprocates but this wasn't done this was done as a goodwill gesture to the chinese despite the chinese flexibility and u.s.

deference to a chinese patriotic holiday no breakthrough is expected when u.s. and chinese negotiators sit down again later this month ahead of higher level talks in october. and another sign of efforts being made to resolve the u.s. china trade fight bloomberg reports that china may resume purchases of u.s. agricultural products such as soy and pork next week as we reported here a 46 percent increase in the price of pork was a significant contributor to the most recent monthly inflation increase of 10 percent overall meanwhile chinese pork productivity has been decimated by the recurrence of an outbreak of swine fever joining us now for an update on that growing regional problem in the state of transpacific ag trade generally is spread kaufman author of bet the farm how screwed stop being food all come back fred. hi daniel now 1st of all fred on the trade fight do you think we will see much of a reprieve for u.s. farmers with this resumption of china the chinese ag purchases next week. listen

that we don't know if it's a resumption or what we understand is that there is certain people in china who are taking a look at spot prices that doesn't that certainly mean they're going to resume buying at united states pork i mean ever since south america particularly brazil has been selling all the pork right from under our eyes because of our tariff you know we don't know what's going to happen next i think what's going on is that president trump is very concerned about the market and he knows that any time there is a sense that we're going to have some sort of agreement and it looks like we're heading in the right direction the market goes up as it did today because of these rumors don't count on it and don't bet on it and of course china has been a large and growing market for us going pork among other commodities losing that market or even a significant portion of it would be a gut punch for struggling u.s. farmers and president trump is by all reports keen to maintain his stronghold of support among rural white voters but the his desire to keep them happy seems to be

in conflict with his compulsion to always be seen bending others to his will when the chinese seem to chime in above all 10 children will not be pushed around so what is your sense of how this growing economic crisis for u.s. farmers will play out politically when so many farm families are already on the edge. well that's the question that's that's the $60000.00 question right now is how much pain and suffering can u.s. farmers in the midwest take how much pain and suffering can iowa poor farmers take the fact of the matter is last year pork exports to china were up all across the globe except in the united states where they're down 2 percent in brazil just last year they're up almost a 3rd and so once again we're just seeing pain upon pain and now that we have 100000000 fewer. or poor in china fewer swine you know what they just do not need as much soybean imported right and so the fact that they're saying well maybe we'll

imports and soybean no they're not we'll never get those markets back it's very unfortunate and back and on pork if you're a carnivore you probably love toward china certainly does we know that enough so that there are official government stockpiles of the meat we know about the inflation impacts which may have convinced local governments covering a population of 130000000 people to start balling out some of their reserves of frozen pork and now my question is are we on the verge of seeing this back to of pork prices start to have some interactive feedback if that's with other act aspects of the chinese economy and is there any sign of progress in the regional fight against swine fever across southeast asia. well those are a number of questions 1st of all the consumer price index in china used to be a lot more closely tied to pork it was about 10 percent of the consumer price index it is now down to about 2 percent so sometimes pork goes 1st sometimes the consumer price index goes 1st so although they are tied they're not as tightly linked as

they used to be that gives china a little bit of leeway this weekend is one of chinese china's great festivals as they're made autumn festival and traditionally every family in china is going to eat meat and when chinese say eating meat that means eating pork and that is why china has found it necessary to release you know millions of tons of pork from their reserve how much reserve they have is of course a state secret no but nobody really knows but that's what's going on right now is that they're releasing some of the reserve particularly in guangzhou out so that people can have their pork this weekend and they can have their mooncake festival as per usual training pork reserves as a matter of national security that seems like a pretty sound policy and finally on plight of u.s. farmers again we learned this week that the number of americans refuse see the snap benefits still known better known to many as food stamps declined by 6 point $7000000.00 since january 2017 spending on the program was $26000000000.00 lower in

2019 versus 2016 and the white house wants to drive that number even further down by restricting eligibility increasing paperwork are we seeing declines in snap spending start to overall demand and will these future cuts have an economically significant impact. well i think it's a i think it's a big problem and every start talking about cutting snap benefits that kind of want to what for our most vulnerable people for children for old people for disabled people for veterans day they need that that monthly hit for their for their food and so i thought i really do think that talk about cutting these benefits is really just political there is there is no good and valid economic reason for any of this . fred golf an author of bet the farm thanks so much for joining us thank you daniel. time now for a quick pause but stay tuned because right after the break. the matter what we say to them because they don't care they don't care about my son's life they don't care about anybody's life except their pocket that's all they care about you know the

slapping them with. the billions of dollars isn't going to stop them. do farmer has reached a tentative settlement in the expanding opioid epidemic but residents of the 3rd today areas are skeptical about the solution. contributors from america's boy are standing by to break down the latest moves in the crisis. to singapore where christie managed to catch up with ways you the c.f.o. of the finance exchange to give us an industry outlook on the subject and as we go to break here are today's market numbers up close. is the twenty's you know there were no laws really on wall street and the abuses were huge and the market money. and people began to look at the stock market as the

proxy for the economy people are getting wealthy because their stocks are going up and they didn't take what their job was to just become speculators and so this is what happened now people are saying look the economy the real economy is terrible no jobs they've been shipped overseas i'm nothing left in the day trading and the market goes up therefore i'm being productive but it's a piece. well you know the kind of adopted because we were called for so long. there. and if you don't harp on him and you. know you. not. the little self to be told fish already 90 percent of the dots i need to fall in the common are. concepts 15 scoops 17 tons true and they do it several times a day with

a big fleet oh you get an idea why. we have to understand we can not stay still and just. be within this. field for you. i'm doing this because i want the future world to the future can generations to have and enjoy the ocean we have. there are growing indications the west's anti russia's stance may be softening a case in point is the recent visit of france's top diplomat and defense minister or take for example the new york times editorial calling on trump to better relations with the kremlin as a way to block china an important question remains can moscow trust the west and email.

your computer. the taliban sends a clear message to donald trump in an exclusive interview to r.t. saying it hopes the u.s. president rethink his decision to call off peace talks with this leaders. the american t.v. networks soon as one of m.s.m. beasties top posts for describing them as paid russian propaganda will look at the track record of the presenter in question when it comes to making claims about the . israeli prime minister benjamin netanyahu and putin now just pumped up holes in the russian resort of sochi the pair discussed syria iran and security in the middle east among others.