eason for that matter everybody else in the world give the united states a better deal beating up on the foreigners for cheating us that's as old as methuselah in the world of politics and mr trump is trying it again the chinese know that that that can hurt them as it has but they also know that it hurts mr trump's reelection bid because it hurts manufacturing farmers and others so the bet bottom line is it's a theater driven by a calculus mr trump's calculus how much does the theater gain me and the how much does the theater lose me and what every resigned this coming week it will be overwhelmed by how that calculus shifts between now and election day next nor the november but if the chinese side to side to sign something that they simply can't deliver on because these are impossible benchmarks to fulfill all of us we said then wouldn't it just be a question of if not when that like how chinese will default in the so-called

agreements. i think this a bit more complicated the chinese understand that they get some real immediate advantages tariffs that were set to go into effect won't now that's been agreed to tariffs that were imposed in september are going to be either eliminated or removed it's still true that half of what comes from china is subject roughly to a 25 percent tower of but that's less damaging then they would have had to live with if they hadn't made this deal and they know because they've watched mr trump that whatever they saw him now and what ever the conditions are none of that matters a month from now let alone 3 or 6 compared to what mr trump will be calculating as to the advantage or disadvantage of finding the child. he's wanting

on the one and or finding them a partner to sign the deal with the other he'll be watching the stock market to help him decide which way to go it's going to be a continuous theater that we have to keep on watching i guess for the rest of point money is not going to change volatility is here to stay it seems now to us merchandising trade deficit trying to the naira since 2016 in november imports fell an export rose and now we're sitting on 65200000000 in deficit so while the trump administration as he said is pointing to this and saying oh the trade war work isn't this great this is only half the story the u.s. typically runs a deficit in merchandise and then a surplus in services so what conclusions should we draw here from these numbers for the last month no conclusion it's never a smart move to use any month let alone one narrow to draw such conclusions we'll have to wait and see for example the decline in imports for the united states which

helps our balance could simply reflect the fact that we're having more and more economic troubles for the mass of people and they're just not buying the stuff that they used to buy some of which is imported and so you can see that there's a kind of multi level factors playing here very very premature to draw conclusions . so now the w t l has reported that the u.s. china and germany they have benefited the most from global free trade their combined revenue in one year was $239000000000.00 so despite all these benefits of this organization but the retail future is now uncertain at is facing some unprecedented pressures from washington so what's going to happen at the u.s. continues to block appointments of the new appellate judges and if they were to fail when the u.s. stand to lose out as well. everybody asks that question that's the right question to ask but here's the fact that has to be faced the w t

o like other agreements depends on a certain minimum good faith of all the participants mr trump has distinguished himself by not playing by those rules he has disrupted everything as he's done so intentionally at least made sure everybody knows it the short run advantage is all the headlines go to him the short run advantage is he looks like the great protector of the us in the way he hypes it but the long run is what we're going to have to live through and in the long run damaging the w t o is teaching everyone china germany but the whole world that relying on the leadership of the united states is too dangerous to continue you cannot rely on something as unstable and its foreign policy as the united states has been if you want to be the world leader which the united states was you cannot

do what mr trump has been doing and we will be living with the results of the readjustment of world trade taking into account the only reliability of the united states in a way we never had to do since the end of the such a world. ward i'm so glad you brought that up because right now everybody is saying oh my god we're at what we're up 27 percent this year this is because his spectacular run for the market better than any previous administration but yet you bring up the fact that there are will be long term consequences so can you bring us some of these long term consequences despite the fact that the markets are now at all time highs. absolutely let me give you 2 or 3 examples the 1st one more and more countries not just china and russia but other countries are deciding not to use the dollar anymore as the international currency with which to conduct their trade their distress there does seem out so i put it there disengagement from the

dollar will cost the united states in years to come number $2.00 they're not looking to the united states for leadership they're finding their own agreements signing their own bilateral arrangements and not just economically but also politically and militarily the cost to the united states of being excluded in these parts of the world by these actions is incalculable and 3rd and perhaps the most important all along you can't count on the united states as a market because of the tariffs they used by mr trump of cutting you off by hitting you with a big tax whenever it's politically convenient to him once again if you're going to be the so-called leader of the world economy you can't act freely as if you were just another player getting an advantage people except you but they rely on

you and if you become unreliable they will disengage those are 3 very profound ways that we are headed into a very troubled waters and we should not be misled by one year's stock market boosting which was done for that purpose but which has been done out of cost of long term difficulty x.m. points professor richard roth thank you so much for being here. budget carrier you're always counseled over 170 flights scheduled for the next 3 days as flight attendants at the sister company german wings prepared to strike tensions have been building due to disagreements concerning regulations on part time work and the u.f.o. union warned that the strike can extend past 3 days notice if no agreement is reached the majority of the cancelled flights were done mess deck and stranded passengers were off the train tickets to their destination or get

a seat on flights operated by other loved ones the timing of the strike during the busy holiday season made things especially problematic previous strikes in november that was on a smaller scale affected 180000 passengers and cost the airline 22400000. so much more on this we're joined now by hilary for which board member of the british american business association so hilary now that the you have recently held their strike against back in november that was quite recently just a month ago so this was over the exact same issues previously wage demands pensions part time work was nothing done in november and why is this still continuing and will this continue to bleed into 2020. well you know it's going to continue and obviously into 2020 because we're so close to the holidays and this is a subsidiary of towns and they're basically the cheap budget airline so what they did is they short shifted this and yes they were concessions made back in november but really it's sort of like it's on the handed tactics obviously the union knows

this is the busiest time of year at least the status right now is as follows love turns actually go a little bit of leverage because basically this is affected really only domestic german flights and so they've been able to offer rail passes to all of those german citizens that are stranded at the moment so at least it was sway some of the dire circumstances they will have to make financial concessions that certain but i don't think you're going to see them cave in a major way to the union because obviously they've been able to do something domestically i think in the future they're going to have to repair the brand because it's the brand that's taken a huge hit over this so we have a lot of issues plaguing germany at this time and while germany is kind of floundering a little bit india is now expected to overtake germany to become the 4th largest economy in 2026 according to the center of economics and business research so are we now seeing a kind of shift of the status quo in the world leader board where you now have india in for japan rising to 3rd and the u.s. and china kind of ballet out for 1st and 2nd are we see a power shift to the east now. eventually what we're going to see chrissy of course

is because you've got a 1000000000 people each in india and china so is that fact of numbers basically eventually with a 1000000000 people you have far larger vaska demographics and a demographic base however i would say this is not going to be happening this decade mainly because you look at the ethics of the laws in place that we have in the west you look also at the transition of students you don't find the brilliance of the brains rushing over to india and china from the u.s. what happens is you have chinese students and indian students they come to the u.s. they come to study and 63 percent of all the global unicorns are high tech unicorns are in the west and so main bridge on only in the united states and of course the high tech center of london so you're not going to see it immediately what has to happen there is you have to see if the chinese ever free up their society if you see them actually encouraging entrepreneurship that may shift the power but at the moment at least diplomatically the u.s. is going to remain at the force that it is and i heard the previous gentleman

obviously the recent tactics of somewhat made that less stable but i would say not in the foreseeable future mainly only because of the entrepreneurship that we have and the ethics in the in the west compared to the chinese now moving on to the west the e.u.'s new trade commissioner phil hogan said that he now wants to quote reset the e.u. u.s. trade lesions on a number of very contentious issues next month so what's on his agenda for 2020. well he's got a lot on his agenda actually he's known as big phil he had a very good relationship with young he's a towering 6 foot 5 irishman and on his agenda immediately would like robert lighthouse of the u.s. trade representative they have to discuss steel and aluminum because those are 2 huge issues the tarp the troubled ministration imposed immense tower of in 2018 and also over 7500000000 in tower of on products so the idea obviously is to waive those towers but the u.s. imposed due to the backing of the european plane maker. and also the u.s.

is threatening to impose some sort of sanctions because of all the digital taxes being imposed by the e.u. and particularly coming out of france in terms of all of our global big digital and tech farms so what you're going to see is you're going to see this striving for notaras but the big contentious issue is that the us out of washington wants us farm products to be at the center and brussels does not want foreign products to be sent all of which is rather ironic actually because big phil as he's known for hogan grew up on a farm in ireland and previously was a farmer going to be interesting to see how big bill steps up hilary for the british american business association thank you so much variance. so i just. time now for a quick break but hang here because just on the other side of the break 29 has been a stellar year for gold but how does the metals stacked up against other assets and what can we expect going forward david mckelvey of mckelvey financial lend us

a hand to give us his outlook and as we go to break here are the numbers at the close. but if she warned you posted by you than i did the show would be sure that there

was more in those jeans new speech needs me we need to be true. about that and when you keep us. in the news i mean that is without infringing ball . a lot of you will see as it fights about 2 kids each other both sides. as in the adults to me as if they are true. if these. 5 days doing needs is. an illusion to you. people who simply. do not include in. their. words. wow feel it 2020 should be

a whopper. the world is driven by shaped by one person with those words. the day there's things. we dare to ask. thousands of american men and women choose to serve in the country's military and the decision little sheltered lives every song came to a complete. the day that i was right to be instructed you know told to shut up what they kill me and i see how i would destroy. any screamed at me and he made me come

in and he grabbed my own arm and he write me to his birthing area if you take into account that women don't report because of the extreme retaliation and it's probably somewhere near about half a 1000000 women have now been sexually assaulted in the us military rape is a very very traumatizing tat happen but i've never seen trauma like i've seen women who are veterans who have suffered military sexual trauma reporting rape is more likely to get the victim punished don't be offended by hand and almost 10 year career or chose very invested in and i gave a sex offender who was not even put to justice or put on the registry this is simply an issue of our violent male sexual. for the large part of whoever is there to pray whether that's a man or woman. has

a rolled out the 1st model * cars built at its shanghai gigafactory monday but rather than celebrating the stock is tanking tumbling down nearly 5 percent why while analysts are seeing these 1st 15 cars being delivered as merely a publicity stunt the company made it a ceremony and made a huge a big fuss about what an important milestone this is to say that they achieved deliveries in 2019 furthermore analysts say that vehicle deliveries may miss the company's target this year as model 3 demand has slumped this report coincides with what lauren fix said last week about there being market saturation as we start seeing a shift from pent up demand to steady flow demand i know initially they're going to be delivering 15 cars by the end of the years we can say that he delivered cars in 2019 that's more of a publicity stunt than anything else we also have to remember we need sales and if there's no sales there then you're producing a product that just sits and that's partly what temp and you're in the u.s. where there's lots of vehicles sitting in different locations around the country

you can look it up on line but as a surety airforce base and they're just parked and that's not good you never want to build product that's not being sold you're better at having consumers wait. now another issue facing tesla will be pricing and mix issues in china as the opening of the china factory has been a key reason for the stock's recent outperformance the best selling e.-v. in china was b a i see. and it's no less than 2000 new goals per week the top 5 models combined sold less than $6000.00 vehicles per week and they all cost about 25 percent of what the china made model 3 is expected to cost while it has been a great fan base the future outlook towards broader adoption remains skeptical. vodafone hutchinson australia has teamed up with nokia rather than huawei to roll out 5 g. network in australia the 1st half of 2020 australia had banned huawei from providing equipment for australia amid unproven fears that the company could be used as a front for spying by beijing while the us has urged other 5 member to exclude

huawei from its new telecommunications network australia stands alone as the only member aside from the us with an all out ban on fall way this has led to an increasingly strained relationship with beijing as china is australia's largest trading partner there is concern that beijing will seek economic reality ation for its hardline stance against fall way now holway urge australia to overturn a ban on the farms involvement adding that the ban has stifled competition pushed up costs and made it likely that regional and rural customers will receive limited or no 5 g.'s services at all the band has also raised cost by an estimate of 20 to 40 percent and now nokia is the beneficiary of these restrictions and western nations and on market access up over 2 percent today. and as we wrap up the year we have to talk about bitcoin the best before my asset

class of this year by far now year day gold is 16 percent the s. and p. is up 27 percent. palladium is up 52.4 percent while big point is up and astounding 116 percent year to date and with the network having in 2020 many hardliners are anticipating another rally for big climb within the next 6 months to give us more on this we bring in david knapp of any of the mcavennie financial group so the david after a new legislation takes effect on january 10th of 2020 right now the anonymous purchase limit for gold well dropped from 10000 euros to 2000 euros people are now queuing up around several blocks in these last few days to buy gold especially if they're particularly concerned about the e.c.b. as controversial economic practice is of these negative interest rates so gold so far has been a steady guard against inflation so why dropping the limits on these purchases now of all time. well gold is not only protection against inflation that's also

a protection against financial repression which is what negative interest rates are this is a policy choice among central bankers and central planners to choose winners and losers and the losers in this case are savers so your opt out is to either put money in the mattress or to buy gold if you can start to close off those options which is what they're doing essentially by moving the the number down from 100022000 you're creating more of a corralled and captive audience which is exactly what you need to effectively implement financial repression this is in my view like building a berlin wall where you're capturing a set of investors and not allowing them to escape so that you can then implement this idea of financial repression that's what's happening and i think gold is is showing that it has it always has been it's a tool of financial freedom now gold has just more than 3 months on friday and it's still going on so traditionally gold doesn't rally in step with us i usually it's

one or the other risk on or risk off however this year we've seen both do pretty well so what's happening here. one thing to say is smart money is already moving to the exits moving and selling industry some for some of their equity positions and repositioning in gold as a safe haven into supporting what could be a volatile year in 2020 but i think if you look at some of the economic fundamentals we have $2.00 money supply growth of over $1.00 trillion dollars in 2019 we also have the fed balance sheet since september expanding by 400000000000 that's going to accelerate in interest in gold 'd and so these i think are some factors to keep in mind not only that but we have a deficit this year of over a trillion dollars with the expectation from the the congressional budget office over a trillion dollars in budgets every year budget deficits that is every year for the next 10 years i think these are all reasons why investors are already moving in the direction of gold now new reports also show that central banks in twentynine have

also been hoarding gold gold purchases are now record highs from central banks around the world including new gold buyers such as kazdin and turkey so why are the world central banks now stop at these record levels just smart money flocking again . exactly and i think it is a continuation of a trend you saw central bank liquidations up until 2009 and gradual accumulations from 2009 to the present but really it's accelerated in 20172018 here and $29000.00 with central bank central bankers purchasing record amounts one of the key trends here i think what you're looking at is diversification away from the u.s. dollar and this is for a couple reasons one having gold as a reserve asset it solidifies what your currency represents it is something that legitimizes a domestic currency so that is happening it is a diversification away from u.s. dollars and i think that is happening because you're trying to create an insulation

from treasury department influence in domestic economies we've seen the u.s. treasury get involved and even. troll and create certain outcomes and so there's a desire to create some insulation from the u.s. treasury and their ability to manipulate or control financial circumstances gold again represents financial freedom both for the individual investor as well as for the central banker who wants some distance from us from u.s. policies now another diversification away from the us talk a little bit about bitcoin big quine is what we call digital gold but that digital gold needs to be stored and i kept a wallet and right now there has been another clamp down recently google removed. rouser mehta mask from its android app store and now apple may also forced to remove their data browser feature from its while app as well so this is really unfortunate to see and as web 3 is in direct competition with google and apple should we expect this continued censorship on metamath and other dapper dollars.

kristie i think the consistent theme from talking about the e.c.b. to talking about google is control the word is control and who is going to control the world of money and finance in this case you're talking about something that may represent an opt out just like we're talking about gold is an opt out from domestic currencies or from the euro so you have bitcoin as an opt out as well who is going to control that you see the chinese wanting to launch their own crypto currency and so it's very clear who is going to control the space in china now if you're talking to the giants like google they would certainly like to have more and more control and influence over that market and i think ultimately we're talking about competition with state monopolies and so that i think is where the real challenge is on the horizon will google ultimately introduce like facebook did something that represents a challenge to the u.s. dollar that it will have to see i don't think the u.s. treasury will like that either david mckelvey mcavennie financial thank you so much

. thank you kristie. catch up by this time you can catch boom bust on new to dot com boom bust r t. stand next time. for . medical use downs to luke's gospel only god to. please.

when you. present political opponents of this look at that is to close most of the book needs some but. it's going strong it's the it's about some new yorkers. just for the. you know world of big partisan new things a lot and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to

stop slamming the door on the bats and shouting past each other it's time for critical thinking. it's time to fight for the middle for the truth the time is now for watching closely watching the hawks. thousands of american men and women choose to serve in the country's military and the decision lotos sheltered lives every song came to a complete. the day that i was right to be instructed here you know told to shut up what they'd kill me and i see how it destroyed my life many screamed at me and he made me come in and you graham my arm and he write me with his birthing area if you take into account that women don't report because of the extreme retaliation and it's probably somewhere near about half a 1000000 women have now been sexually assaulted in the us military is a very very traumatizing tat happen but i've never seen trauma like i've seen

women who are veterans who suffered military sexual trauma reporting rape is more likely to get the victim punished don't be offended and almost 10 year career or chose very invested in and i gave a sex offender who was not even put to justice or put on the registry this is simply an issue of tower and violence male sexual predators for the large part of target whoever is there to prey upon whether that's a man or one. of the 2 days there are good terrorists and bad that is the bad news in the end then the united states deems to be a threat the looked at those war in syria the cia and the us military were engaged in covert actions really throughout the world. where they were assassinating populist leaders they were backing up the right way military funding and arming death squads there is no. more because there's always

a small income for really good. profit. under the term to storm the u.s. embassy in baghdad after last week's deadly american airstrikes on iraq diplomatic staff including ambassador have reportedly been evacuated from the compound. the science claims that he is dying in a u.k. prison plied with sedatives and subjected to 23 hours of solitary confinement a day you hear from a son's is friend who was told the chilling details in a call from the wiki leaks co-founder on christmas eve. julian rang me because he spent christmas with me and my family in 2010 while on bail what time of good. will and he said to me but i'm slowly dying.