set to release 3rd quarter growth data thursday and after 2 consecutive negative growth quarters it is expected that germany is technically in a recession the biggest issue for the country is industrial output which actually fell more than expected in september dropping 0.6 percent on the month pointing to ongoing weakness manufacturers which are reliant on exports have also suffered from a slowing world economy and uncertainty linked to trade and to bragg's it and while there had been hopes for a turnaround that hope is fading fast as germany's industry is contract ing due to shifting consumer trends shrinking investment spend and souring sentiment despite the slight uptick in september industrial orders the reality is structural flaws in the industrial sector will hold back any recovery the reality is this germany is currently struggling with a rapidly aging population which constricts the skilled workers market keeping productivity growth weak a strong rebound would be unlikely a skilled workers frankly are hard to come by in addition german banks are now

operating with the highest cost in the eurozone with a combined return on equity in the 2nd quarter of 0 that low profitability is a huge risk to the financial stability of the local economy as it hampers the build up of equity further stimulus that's also unlikely to be meaningful in a country committed to running a balanced budget well meanwhile wall street's rally which has been rory nover expectations of a u.s. china trade deal has stalled after the dow jones industrial average the s. and p. $500.00 and the nasdaq all finished at record highs on friday stock futures for all 3 are now lower in fact all 3 major u.s. stocks indices posted highs and the s. and p. 500 registered a 5th straight week of gains on friday but what seems to be slowing things down christine mentioned it just a minute ago concerns about china pushing for additional tariffs to be removed by the trumpet ministration joins us now to discuss this and other market stories is the c.e.o. of euro pacific capital peter schiff peter thanks for being here. so let's talk about it i mean i. yeah let's talk about what seems to be halting some of this

trading is the issue of china and the fact the president appears to be kind of walking back the idea that a deal is about to be reached how do you see it. well i've said from the beginning that there will be no substantive trade deal reached with china in fact we're not even talking about a real trade deal anymore we're just talking about phase one and phase one is basically nothing and i think what the chinese basically want to agree to nothing is for all the terrorists to really be rolled back so that we return to the status quo that existed before the trade war began. meanwhile blog now. this week after reports that private equity giant company has formally approached addressed our group of what could be the biggest leveraged buyout in u.s. corporate history coming in at around $70000000000.00 so it doesn't tie a deal comes together how significant could be the terms of flexing the power of private equity. well you know we were having

a lot of private equity deals in the era of cheap money you know even though interest rates have moved up a bit what we have one of the half percent fed funds we have a inflation rate well in excess of 2 percent per year even the way the government measures it so with all this cheap money around there's a lot of deals that are being done but if the fed were to allow interest rates to rise to a normal level a lot of these deals would not be go be done and i think the economy would be restructuring in a much healthier way instead we're continuing to inflate a bubble and we're propping up companies that would be better off going through a bankruptcy so it would actually be the benefit of actually going private here they have been private since about $970.00. but i don't know i mean i'm not involved in this transaction but i know there's a usually a lot of costs that are saved if you're not a public company you don't have to do all of the reporting that is required of public companies. but if they're to finance

a transaction by going deeply into debt you know this is something that will ultimately probably be problematic when the fed loses control of interest rates and interest rates ultimately rise in a severe recession which is my forecast. so peter we know you love to talk about gold and silver gold and silver prices have been pretty steady today but late last week the precious metals slumped a little bit to 3 month lows over the weekend we saw more violence in hong kong between police and protesters do you think that will cause the price to start to move again obviously folks looking for a kind of a safe head right now. well the real driver behind the rise in the price of gold is central banks not only the federal reserve but central banks around the world and what happened last week as i think we have some profit taking in gold based on some false optimism of a trade deal which again is not going to happen whatever we get will be not i mean it won't be anything of a deal it won't change any of the dynamics between the united states and china but

interest rates also rose rather sharply later last week particularly on the long end of the curve and that also caused some selling in in gold but ultimately i think the reason that interest rates are rising is because inflation pressures are rising and the economy and because there is not enough demand for all the bodies being sold all of this is very bullish for gold and so rather than simply selling bonds people should be buying gold because they need to get out of the dollar effect they need to get out of currencies in general and seek a real safe haven and that's gold and as we come full circle here you keep mentioning about the trade deal that is it really seems to be the way you're kind of laying it out political theater more than anything else that there really is nothing substantial about it if that is the case do you think that the both sides will attempt to make some kind of announcement looking as if they have one half of

their respective sides within the next few months. as part of the well i'm sure donald trump yeah i'm sure donald trump will make a lemonade out of whatever lemons we end up with on this trade deal i mean they'll talk about it as if it's a victory just like you talked about you know the u.s. m.c.a. which was simply nafta with a worse name say he'll claim that this was a great deal even if absolutely nothing is accomplished you know the the important thing is that the trade deficits are bigger now than they were when trump became elected and the whole purpose of the trade war was so that america would be winning on trade again what we're losing on trade bigger than ever and so trump would not achieved or delivered on that promise whatever he wants to pretend and less facts than in the way of political theater though peter schiff of euro pacific capital thanks for your insight.

credits was as jim i mean resigned as c oh of the investment banking capital markets division adding to the months of turmoil this move is the 3rd cheney at the top of the swiss bank in less than 5 months coming just weeks after the spying scandal jim i mean succeeded by david miller is not the only c. suite exact to leave in recent months october $29000.00 now marked the highest month on record of c.e.o. departures with $172.00 executives leaving their post either voluntarily or escorted out with a cardboard box for the year through october $1332.00 u.s. based companies announced c.e.o. departures marking the fastest pace since 2008 where bad company performance was blamed by the c.e.o. notable recent departures including mcdonald's firing its c.e.o. steve esterbrook under armor is kevin plank stepping down service now c.e.o. john donahoe jumping ship over to move over to nike we worked out a neumann being ousted and now gaps are peca tendered his resignation after

delivering another failed quarter and full year guidance update ousted execs this year were driven out by profit worries retirement and misconduct with the tech sector and now seeing the highest 2nd highest number of c.e.o. changes this year 181 up 24 percent from last year. or time now for a quick break but hang in there because when we come back technology seems to charge forward daily right with new developments in almost every space shaping the incredible rates but there are technologies being properly vetted before you on the other side of the break we talked with you while still in the biohazards to break down the state of microchips in humans and whether they live up to the hype. and as we go to break here are the numbers of the quotes.

is your media a reflection of reality. in a world transformed. what will make you feel safe. isolation fulcrum you don't see. are you going the wrong way or are you being. direct. what is true. is. in the world corrupted you need to descend. join us in the depths. or remain in the shallows.

to my hardest to a dash 1st to campaign in. the dollars i think is the most. awesome design you made to be washed as you. are ricky. in the same country because he must come. to make us tell. us suddenly when my mother. had to name us who.

the monkey who knew the whole thing. was in what is is him. you know so you don't know many of these young. guys so much more to see he chews just enough to see. oh. please. join me every thursday on the island so i will be sure and i'll be speaking to get out of the world of politics or business i'm sure i'll see that.

there are concerns that the new head of the e.c.b. christine legarde may push fiscal policy into very political territory lagarde is expected to use her new position to push through political ideas such as closer fiscal coordination between the european nations in an interview with the french radio last week said those that have the room for maneuver those that have a budget surplus that is to say germany the netherlands why not use that budget surplus and invest in infrastructure why not invest in education why not invest in innovation to allow for a better rebalancing the big question looming over look guard will be whether she attempts to use the might of the e.c.b. to control. how european countries spend their budgets and whether or not she might try to punish countries that do not behave financially and

a way that she deems correct legard also insisted in the past that negative interest rates have made life better in europe claiming that those rights are more important than the protection of people who hold financial savings the guard has also weighed in on the so-called green bonds or debt financing to fight climate change she is in favor of using the e.c.b. balance sheet purchase them which whether you agree with the position or not is nonetheless political the real test for a look are will be how her tenure at the e.c.b. is met by an increasingly populist set of movements across europe that have already resulted in mass protests turned one of the biggest investors soft bank is also backing biggest competition in latin america this is reports that latin america which was one of the biggest strongholds is now the worst single region for the right sharing company and the biggest reason for that lack of growth a chinese company kristie he said that. i think that's the right way to say it

which has been rapidly growing in latin america in fact the country of mexico let's take that as an example where i'll just call it d.d. has grabbed about 30 percent of the market in cities where and operates d.d. also has a significant presence in brazil where it acquired an existing right sharing company again the ne is backed by japanese investment firm soft bank which also backs and how about this in colombia eats is facing fierce competition from food delivery service. or rapid excuse me which recently received $1000000000.00 in funding from soft bank and beyond just the issue of competing industries who are has also been losing talent to those same companies d.d. repeat and india's oil hotels and homes which is also backed by soft thing do you see a theme developing here at this point there are a lot of eyes watching to see how softening manages this competing interest issue but after the softening. back to we work i.p.o. disaster not everyone believes that there is an actual method to this madness.

imagine showing up for work and instead of swiping a key card to get into the building you simply just wave your hand and a microchip inserted under your skin gave you access for some people in sweden they don't imagine this life it is their life thanks to a company called bio hacks bio chipping has taken off as an increasingly common alternative to the use of key cards and. after being injected with a syringe between the thumb and the forefinger at roughly the size of a grain of rice these chips are designed to render users lives more convenient by replacing the need for a cumbersome amount of cards past codes and signatures joining us now to discuss is the founder and c.e.o. of biohacking yuan are stolen so when we talk about this issue here in the u.s. it still sounds very side but in reality people in sweden have been using this technology for several years so how common is it and what do all these people use

it for. so. it's. more common than any other place in the world most people use it for a single sign on computers to. rid themselves of passwords trainer. close to payments the smart office smart home personalization i mean we're doing a payment and next couple weeks. which is going to really anyone from having to handling money i mean paper notes is extremely cumbersome for any nation state. just risk in clutter so. it's pretty incredible technology can you explain a little bit about how the technology works because obviously people lose. jobs they move to new apartments they change their gym membership some people actually go and some people just fake it but what is the process for updating that microchip

once it's already inserted in the skin so be. it be kind of if you have to replace the chip every once in a while and every time you move or what are still all you have to do is you become the root key instead of you having to handling 101520 keys and it disconnects the tokens so the only thing you do is because you change instead of getting their card you supply them with your key and they facilitate that in their system. in the duration of you being a member of the same thing with a job i mean you load credentials onto a card by a system so if. someone changes job you just remove them from the system. here we make the use or the room key so the user is the distributor of

their keys rather than the other way around. so felt by basically flipping the entire model which is very interesting now in $27.00 team there was an attempt by a wisconsin company to implant these chips in their workers the company 3 square market didn't receive a very positive reaction so have you found that in other countries specifically in the us that there is a picture of the lowly worker being chipped monitored and being tracked. i mean you can't escape the fact that. lean towards 84 velie and dystopia and i mean who wouldn't think so because everything we've ever seen microchip or implants featured in a movie or or anything else it's either polonium tracking device or explosives where. it's all the information we have or had i mean. this is kind of flipping it by putting you in control then making this tiny

thing a part of you making. i mean you dictate preferences on share and you dictate everything about it was not employee employer saying employee get this chip it's like 99 percent is the other way around an employee saying why don't we use this bad us technology in our workplace because they do and. i mean the the media. just portray it and all the different ways but i'd say it's a good thing being scared of technology because if you are you you get informed so i think i'd rather. scare people. and make them inform themselves of what it actually is and how it works then the other way around it is interesting how they become as you said the root of all of this and

they share that had been a fire but the company name of course is what about the issue of hacking and i'm sure a lot of people are concerned about this as well because these chips do release a signal essentially and i believe it's an n.f.c. signal but is it possible for hackers to read those chips separately from their intended use to pull information from them to change them how do you avoid that issue of hacking. so nothing is done hackable says get that straight right i mean the only what our primary goal is basically making everything just stupendously boring to try and get it so the actual hack would never reward itself once you get to the goal because you'd get an extremely compartmentalise set. bits. so i mean unless you're a nation state or a couple of nation states going together to try and pawn blocks and.

you know. there be no reward at the end of that so. you just make it boring and you know read no big reward at the end of the road that no one's going to hack it. well from bags to bottle some $30000000.00 tons of plastic flows into our oceans every year according to a report from the united nations well now some cities are hoping to utilize the excess plastics as a functional means instead of sitting overseas r.t. correspondent such a swede has more from los angeles. there's no question people around the world are concerned over the use to plastic and what it's doing to the environment the reality is that plastic is still being used on a daily basis the solution some cities like here in los angeles are hoping to pave the roads with plastic instead of throwing it away. with at least $30000000.00 tons of plastic flowing into our oceans each year there could be more plastic than fish

by the year 2050 un says $100000.00 marine animals die each year due to plastic related causes and while there is always recycling things aren't so simple anymore last year china announced it would no longer buy plastic waste from the u.s. according to the recycling company g b d international european countries are recycling a 35 to 40 percent of their plastic waste the u.s. only recycles 10 percent. but a way to fix that according to the city of los angeles is getting wise in this waste to pave roads the city of los angeles is working with a company called take me so we are testing out a new method for paving roads using repurposed plastic as a binder the 1st part of this pilot project is set to be constructed here in downtown on 1st street later this year the plastic asphalt is made by converting. well it's a plastic into an oil that is mixed in with materials used during the normal paving process according to the city of los angeles using plastic will help cut down

emissions material costs time and the roads will be reportedly $6.00 to $7.00 times stronger than those made with traditional asphalt we're looking at using $100.00 to $200000.00 bottles per lane mile mark $2857.00 pounds per lane mile up plastic used elsewhere but is there a possibility of plastic particles getting into the air we breathe or the ozone if temperatures rise what happens is the classic winds to the aggregate and basically it will stick it out here to that forever so there's been no leeching or no access your contaminants associated with this house for this product keith mosaic system director for the department of st services says this may be the solution for the growing recycling crisis this is you know using a passer by years could revolutionize the destruction industry want to help serve the flood walls of the highways that it could lead be you know to a new era sustainability and less consumption of the products consumer watchdog

a nonprofit that studies issues in california's recycling industry estimates more than 40 percent every dipped of centers have closed in the last 5 years replanted california's largest operator of recycling centers closed all of its 284 centers back in august so this concept of paving the road to the plastic it is nothing new in fact india has some 62000 miles of roads already paid for the plastic would have to wait and see if this trend also cut designs here in the us and los angeles and how sweet are 2. in just a year away from los angeles what do you think about driving on plastic roads i think it's such an interesting concept especially in l.a. way to have like all this heat l.a. highways are you already like mix with a different type of asphalt than that of the east coast why are asphalt much less porous so be interesting to see how this plastic can withstand because especially. they're already doing this and india i just don't know why it took the u.s. this long to adopt something that say a developing nation has already been doing it would also be interesting to see how

long those were the longevity of the roads in india have been that mean that i should mention they're saying 6 to 7 years longer a lot of cities in the us you just don't find any kind of sustainability for the roads exactly it's a different transportation sector for sure. that's it by this time you can catch the must on direct t.v. channel 321 dish network 287130 the free t.v. at county 79 or as always you can have us up at youtube dot com slash boom bust r t c tomorrow. with the ever present and constant dread. of the free

money. we would have a day of reckoning and prices would revert back to reflect supply and demand. and there would be a catastrophic trap door opening underneath the u.s. economy because the u.s. won't do it for itself china will do it for the in the form of announcing as a surprise $20000.00 tons of gold and the introduction of a gold backed crypto currency just will kill the u.s. dollar better than a doornail. time after time corporations repeat the same mantra sustainability it's very important to excel or transition to sustainable transport sustainability stay number may not be more equitable and sustainable world. they claim their production is completely hominis.

companies want us to feel good about buying their products while the damage is being done far away this is something else this must be done to me even as i need money. this is the rules of news media and i mean when i'm stunned seemed to be based on that understood look to what is going in. your government and our government and all the other major governments of the world know what's going to happen and when it's going to go but they haven't told you and they haven't told me they haven't announced. imagine something as big as the earth is going to cause tidal waves earthquakes volcanoes erupt and it's going to help.

so very for a while right. my great grandfather's quote. nobody would care about the law or prison so you'd have wallace those should have. a turtle life between now and the. the tense situation in venezuela is still all over the news the problem in venezuela is not that socialism has been poorly implemented but that socialism has been frayed only implement from the inside venezuela things are different we're going to announce sanctions against petroleum venezuela associate. in the school have a supplement to. get out of that political battle to stay on the path to. the

moment the focus of the who story isn't new makes him cold in henry kissinger to tell him that it would not be tolerated in latin america. an alternative economic and social system could take hold and therefore the policy would be to make the economy scream so wants now making the economy of venezuela screed. let me. just believe i was using. the thunder all relates to ringback the seasonal flu. the. rain the.

trump welcome to the resignation of the bolivian president who quit apparently under pressure from the military following weeks of street pilots at the same time several countries denounce a bench in the latin american country as a coup. stabbing images from hong kong where protesters set a man on fire apparently for being pro chinese. and syrian president bashar al assad shares his thoughts in an exclusive interview with r.t. is the 1st time he spoke to an international channel to more than a year you can watch the full version online at r.t. dot com. the american always try to do other countries. in different ways in different ways regarding peer not only oil or money.