day will reserve judgment back into the spotlight as the u.s. central bank is expected to cut interest rates again as president has loudly demanded leadership of euro pacific capital is with us to give us his take on this moment monetary moment and what could be in store for precious metals plus. new artificial artificial things to profit is what. we return for singapore for more perspective on u.s. interest rates from our own christiane international and us or german rogers get his take on our topsy turvy global interest rates in the area and why i put the band. thursday got all this news involving the all this and news involving the show's official favorite musical guest on deck let's go. trance in atlantic tax fight leads our global report today as apple files for an appeal of

a $14000000000.00 bill for back taxes from the european union on monday the u.s. based tech giant pled for the 20 $6000.00 judgment by the european commission that apple effectively benefited from illegal state aid from the government of ireland by means of 2 markable rule court rulings that have granted apple a drastically reduced tax burden over 20 years the creation of tax havens has been an ira strategy for luring foreign firms to officially set up business in ireland and park at least some of their assets there apple flatly rejected the order to square up on their tax bill saying it defies reality and common sense and petitioning for an appeal to be heard in the e.u. 2nd highest court the case against apple is perhaps the point of the spear in the e.u. competition commissioner margaret a vest of years notable effort to apply some basic forms of regulation to some giants of the contemporary global economy particularly in tech the results of the apple's appeal could determine the success of his best years initiative. and the

fate of her power struggle with the trumping ministration which has sided strongly with u.s. tech firms against european policy makers. and there is good news and bad news for 2 prominent companies contemplating initial public offerings or i.p.o. as we work has postponed their i.p.o. after investors began to raise serious questions about the shared workspace company's standing for such a move the company now says they will delay their i.p.o. which was initially planned for next week until october at the very earliest according to reports we co we works parent company was valued at 47000000000 dollars earlier this year but just last week the valuation was more than halved to somewhere between $15.00 and $20000000000.00 on the other side of the ledger and heizer bush in bed is going to make a 2nd go at an i.p.o. in hong kong the company's asian arm budweiser brewing company a p a c limited will go public on wednesday and is looking to raise $6600000.00 in what is expected to rank as the 2nd largest i.p.o.

of the year shares reportedly will be priced between $2730.00 hong kong dollars in the listing. zone president jan craps had this to say regarding the impending i.p.o. . for its. position to. be a challenging environment at the same time. as a champion. it's. the best financial center for us. to do this thing is a very strong foundation. very bright. as a financial center. in july of a beer brewery called off a previous hong kong i.p.o. plan which had and dish ins are raising $10000000000.00 they cited concerns over market conditions. and many in the oil market are taking

a 2nd look and exercising some due diligence on the security of their supply in the wake of the drone attack by hoofy militias in yemen who say they see carried out the attack against saudi oil facilities taking about 5 percent of global supply off the market rosneft the world's largest oil company is moving quickly to offer deals for reliable future supplies to india on tuesday rosneft chairman igor section when met with indian minister for gas and steel dementor production in new delhi for talks on terms of trade in oil rosneft confirm in a statement that tuesday's talks were occurring in light of the recent attacks and said both sides agreed to accelerate cooperation aimed at strengthening india's and energy security and supplying indian consumers with quality crude in oil products rosneft has considerable room under a recent deal with opec to increase output levels as well as a technical technical capacity to do so relatively quickly and imports roughly 80

percent of its crude oil supply while rosneft holds a 49 percent stake in the owner of madame r. in the 2nd largest oil refinery. and joining us now to discuss interest rates metals and all your favorite topics is peter schiff of euro pacific capital peter welcome back and there's so much to get to since we last spoke but including oil but i want to start by getting your take on the latest federal reserve news breaking tuesday afternoon an interest rate cut is of course expected at this week's open market committee seems like a fait accompli but in the meantime the wall street journal says the fed reportedly had to take action to keep the federal funds rate in their target range with $53000000000.00 and repurchase agreements fox business and other outlets say was caused more closer to a $75000000000.00 intervention diagram the mechanism of this intervention for us and what are the implications of this fed action moving forward. well 1st of all i

think the financial media and wall street is being must too complacent about what's happening in their their their instinct is to sweep it under the rug is no big deal but i think it really is a harbinger of what's to come because you know the federal reserve has been artificially suppressing interest rates particularly since the 08 financial crisis and by keeping interest rates artificially low they have created a bubble that's much bigger than the one that popped in 2008 and what happened this morning is that you can see the air coming out of that bubble because the market is trying to bring interest rates higher because we have no real savings in this country we have enormous debt everybody is levered up to the max government the private sector business consumers because rates have been so low we've borrowed so much money the market wants interest rates to be higher but the fed doesn't want to allow that to happen because the roll to road back to normal interest rates is a very bumpy one because it's going to take us right through another financial crisis so the fed is trying to keep interest rates artificially low and they they

almost lost control of it this morning now you know they created what $5070000000000.00 out of thin air to supply the credit that the market needed but what happens next time what happens if we need $100000000000.00 what happens if we need a trillion because eventually we will eventually the fed has to choose between destroying the dollar and allowing the market to bring interest rates to a level that makes sense for an economy with this much debt and then all hell breaks loose because we have a much worse financial crisis than the one we had in 08. there and on the fed's f m o c meeting coming up you've been in the consensus that pretty much everyone expects another rate is coming that's definitely not a good thing in your view what are your thoughts right now as they prepare to go further into arguably unprecedented territory for monetary policy this week. well the fed definitely should not be cutting interest rates. now the economy is

going into a recession but the cure for what als us is not lower interest rates we need to go through this recession and higher interest rates are part of the cleansing process is painful as that process is now going to be but the federal reserve has no stomach for doing what's right so they will cut interest rates because that's what the you know the attics on wall street demand so we're not going to have a real recovery we're just going to try to maintain this bubble but i don't think it's going to work i mean i do think the fed is going back to 0 i think they're going back to quantitative easing they may even go negative who knows they're going to throw you know put everything out there including the kitchen sink to try to prevent interest rates from rising to try to prevent this bubble from the flighting but they are going to fail and staying on this theme today you tweeted an item with an eye grabbing headline titled a very violent move in the bond markets tell us about that violent move. well we just discussed it a little bit earlier today as far as in the short end but you know i am expecting

a more violent move from the long end of the bond market i mean that is where the biggest part of the bubble is i mean 30 year u.s. treasuries are barely above 2 percent i mean who in their right mind would loan government the u.s. government money for 30 years you're not getting your money back for 30 years and all you're going to get is 2 percent coupons for the next 30 years waiting to get repaid look at the price of gold moving above 1500 that's a very good sign that the people who are waiting to get their money back 30 years for the are going to get very much of anything as far as purchasing power so that is where the real danger is when the long end of the market really starts to implode and you know that could happen any day i mean it probably won't happen tomorrow but one of these days it will happen tomorrow and speaking of implosion then where people go in situations like that gold there has been some crime blotter material from the metals market this week again from j.p. morgan. 3 more traders in their metals desk including the former head of the desk

were charged with spoofing that's the project went to deceptive orders to manipulate metals prices between 200-2016 they were charged under the us rico statute which is an organized crime law which is interesting they also face a federal class action lawsuit over their actions in silver's futures has this story market manipulation played out within the sector or at j.p. morgan or could we see more similar scandals in the future. well you know i don't know and i know a lot of people in the gold market have long believed that it was manipulation that was responsible for the suppression of the price of gold that somehow gold would have been much higher but for manipulation of banks like j.p. morgan and maybe some of those people are feeling vindicated based on this news but i don't think this type of manipulation is what those people had in mind when they were thinking about keeping the prices gold and silver down i mean i don't know that that was the goal in that it relation it seems like they were just manipulating markets to try to make more profits for themselves and i don't know

that they cared which direction the market moved as long as they made money off of those movements and so they tried to manipulate the markets to their own advantage i don't think this is why the price of gold is not much higher i think it's not much higher because too many investors don't understand what's going on they know they have confidence in the federal reserve other central banks they believe in this bubble they are as full now as they were going into the 2008 financial crisis the difference was they were bailed out last time as wrong as all the experts were on wall street in other countries who couldn't see an obvious crisis coming when they were blindsided their pals at the federal reserve and other central banks were able to bail them out it's not going to work this time it doesn't mean the central banks won't try but as i said it won't succeed they're going to destroy the dollar in the process maybe bring down the entire feed monetary system and gold is already rising gold is telling you that on the ashes of this old system we're going to

resurrect the gold standard because that's what we had prior to the dollar taking taking over we had a much sounder monetary system then we had a more viable global economy you know once we took the money out of the economy once we substituted real money for a fee that was the beginning of these problems and the end of these problems is going to be returning to honest money which is gold and you know to go from here to there is. there's a lot of problems that are going to come to the surface there's a lot of defaults and bankruptcy's but at the end of this total there is there's a lot of white but hopefully we can avoid the oncoming train an excellent guide there interesting times peter schiff of europe or center capital thanks for joining us. and time now for a quick break but stay tuned because when we return we take you to singapore work christine minister up again with international investor jen rogers to get his take on the state of the federal reserve and the stability of global interest rates and

as we go to break here are the markets 1st for. thousands of american men and women choose to serve in the country's military and the decision. every came to a complete. halt you know what they kill me and i see how it destroyed my life any screamed at me in. my own. right mean i think if you take into account that women don't report because of the extreme retaliation it's probably somewhere near about half

a 1000000 women have now been sexually assaulted in the u.s. military prison traumatizing. but i've never seen trauma like. women who are veterans who have suffered military sexual trauma rape is more likely to get the victim punished than the offender and almost 10 year career which i was very invested in and i give a sex offender who has not even wanted justice or put on the registry so. some plan is sheer power and violence male sexual predators for the large part of target whoever is there to prey upon whether that's a man or one. but if she wore a new idea. to shoot at the bazemore those jeans nudist beach and simi we need to be true she. doesn't know about that.

in the news i mean guys are that infants involved. in your info as if i it's about 2 kids each other both. doesn't need a list of. events but out. here in cherokee folks cabinet 5 days doing a sit. in english lady a for people who simply knew to manipulate him to. seem wrong. but old rules just don't hold. to me that you get to shape out these days to come to advocate and gain from it equals betrayal. when so many find themselves worlds apart when she's to look for common ground.

we're. going to see the. video of the just. down to. the. police if you pull the reports from the way.

welcome back chinese vice minister for finance allow min is leading a delegation of officials to the united states wednesday according to a report from china's state run news agency should watch the trip comes as officials from the united states and china prepare for face to face meetings in october here in washington d.c. the meetings next month will involve chinese private vice premier who ha u.s. trade representative robert white guys are and u.s. treasury secretary steven minucci and as the 2 sides try to hammer out the details that will bring a truce to the ongoing trade dispute between the 2 countries after the meeting was set u.s. president donald trump announced a delay in the next terror hike from oct 1st walked over 15th as

a goodwill gesture mr lao is expected to set the terms for the october talks with this week's visit and speculation is that more than just trade may be on the tape. for discussions. on kristi i may still be on assignment but we've got plenty of content from her coverage in singapore so far we've heard from world renowned international investor and author jim rogers on the state of the global economy and the implications of the ongoing trade war between the u.s. and china today we share another piece from christie's visit with mr rogers in which he speaks about the big decision the united states federal reserve faces when it comes to interest rates. right now we seem to be on a path to a very fast pass down mark is there any chance that this can be saved that's all it can do when you claim that this is just another myth cycle correction like back in 1905 do you think there is even a hint of truth to that you said things are bad the u.s. market is within 2 percent of its all time high i do too but i never started

a special yes yes yes no no no i certainly know it's artificial yet what's missed if i was to pound had resigned quickly before i get shot at you 100 basis points loved enough not to know he could get jailed you know with with the people running washington these days i don't see any way to solve this problem now we can continue to print money we can continue to buy bonds government the government can buy bonds and the governments can buy stocks this is artificial it's being propped up the fundamentals are not sound and it's unfortunate and mr trump has said he's going to have a trade war he says the trade wars are good he says he could win the trade war now that's up to mr trump but history shows that's not going to work that way. we may have an announcement fairly soon of ok everything's all right now. the markets will

have a choice of you but it will not last because when the economy gets bad in america mr trump who believe. that trade wars is going to come back with a very hard trade blame the germans and the canadians and the mexico to. blame everybody and then we'll have a serious trade war and we will have the worst market in my lifetime it doesn't start this month we will have serious serious problems over the next 2 or 3 years so a lot of people we can learn the trade war right now everything that's happening but then there are a bunch of people who are always blaming paul and the fed for what they did for tightening too soon they are saying that when that. dissipate and build up its inventory. for the next recession they started tightening credit they started hiking up rates as well as they started taking liquidity out the market so we actually got hit by 2 types of credit tightening they were destroying money as well

as they were hiking up rates so do you think that the fed was actually the one bad monetary policy was the one to actually kick start this entire thing is high interest rates lower still recorded history what are you talking about tightening too much too soon yes the little bit so what interest rates around the world are the lowest they've been in recorded history so what if they go before it so by the way they going to go up a lot all over the world are going to go up. central banks will not be able to stop it the market has more money than central banks and the market is smarter than the central banks all over the world the idea that the fed is causing all of this is. caused all this. you know it took interest rates to. greenspan they were the ones who put all this together and said all we have to do is print money drive interest rates to nothing buy up assets and everything is ok

this is one of the greatest hoaxes or the greatest tragedies that the world is going to ever face i mean this has never happened and we're all going to pay a very. very serious price. this month we've had an 11 year bull market but when it comes. it's going to be very very serious i hope i hope we all survive but many of us are not so we tell you as you just said we are in the lowest interest rate environment that the world has ever seen but given all of that we have been able to hit our inflation target for what the last 7 years well i guess part of the problem is that the government keeps the books and they lie about it i don't know if you've done any entertainment or education or health care or. freeze there's inflation in the land the government lies about it they have a reason to lie about it since a lot of things that the government did. to the inflation right so they they learned to lie about it a long time ago you probably don't do shot you're but they're probably do your

shopping for those of us who don't have butters doing the shopping we know prices are going up so right now people don't think that this next recession if we do have it which we both think there are but there's another camp who doesn't they don't think that the u.s. will get hit that hard because they still say that consumers at the end of the day will say the u.s. economy consumption represents 80 percent. and we have the tooth fairy and the easter bunny a lot of people go to save the economy when things go we're going to have greenspan again and ben bernanke they will bring them all back with the tooth fairy and the easter bunny no that's not going to work that way throughout history everywhere when things get bad everybody cuts back and the u.s. consumer whoever he or she is going or in what the media who's going to save us all . is going to cut back to you know the places like illinois bank robbery

i mean there are many places connecticut connecticut is becoming a basket case. no i things are not going to get better when some of these states and cities start going broke yeah consumers was the last bright spot in the entire us economy manufacturing less down as a result of that interview let's interview all these consumers who are going to see if the world better bring the tooth with them knowing that the fed is going to lower rates up another $200.00 that's probably down to 0 within the next few quarters all of us trade as a market participants were betting on that turn driving the market hire do you think that that's a dangerous mentality to have. been telling could you get sucked in. they can say this everybody thinks that they can save us because the fed is always a. 100 years but this time around eventually they're not going to be

able to save us anymore so yes that's a dangerous mentality but in the meantime they can cause more they can keep the market kept the market up artificially for several years months now so we know it's i know it's not real. but that doesn't mean the bear market starts in september in my view would probably want because they got on 18 months but they you know they can put a lot of stops mr trump can spend a lot of money that congress can get here and the central banks can get scared and . the thing can be resolved seemingly resolved one way or the other there are things that can happen that can cause the markets to stay up for a while but basically. the deterioration is already started and it's getting worse it is not getting better maybe artificial props that will come out absolutely in one of those artificial props we've seen in japan in europe where negative interest

rates so i do think that the u.s. will see a day when they are going to implement negative interest rates but as we've seen in europe and japan it doesn't work you just. start digging yourself into this black hole that you can never take yourself out of and you're in a constant loop of not deflation and i think at least. that you make the very good point that yes america can still go that route we can we haven't gone to get even interest rates yet we can you know ben bernanke he once said the fed has the power to buy anything it wants we can buy money farms businesses we can stocks we can do anything we want so there's still danes which they can't do artificial artificial things to prop this up for a while but. be wary. and finally checking in on the quickly shifting market for recorded music and amazon is the latest player to test whether consumers will pay more and how much for higher quality streaming and downloads the new service called amazon h.d.

launched on tuesday presenting a direct challenge to previous tor insurance a title with a lower price title famously backed by hip hop mogul jay z. and other musical artists charges 9991000 dollars and 90 $0.09 monthly for their high def plan amazon will charge only $14.99 for amazon h.d. and an even lower incentive rate for amazon prime subscribers to be clear in this case high definition means at least cd quality sound delivered in the so called lossless flat file format according to amazon audio quality has been a percolating issue of concern among artists and fail and the issue of sound quality has become a crusade for a legacy artist an inventor of his own high quality audio format and device neil young in countless interviews and in a recent book to feel the music and young was quoted in amazon's press release saying earth will be changed forever when amazon introduces high quality streaming to the masses this will be the biggest thing to happen in music since the

introduction of digital audio 4040 years ago final is still the best choice but i'm all for anything the. bush's crappy m p 3 is out on market that's over this time you can catch boom bust on direct t.v. channel 321 dish network channel 280 or streaming 247 on pluto t.v. the free t.v. app channel 279 or you can always have us up at youtube dot com slash boom bust r.t. see you next on. join me every thursday on the alex salmond show and i'll be speaking to us from the world of politics sports business i'm showbusiness i'll see you then.

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deadlock 2.0 israel's 2nd election is on course for yet another stalemate neither prime minister netanyahu or his centrist. achieve a majority signaling. talks. to assemble a strong government i intend to speak with everyone tonight we will work to form a government. facilities.