analysts have commented that further up sties still remains as iran is almost certain to respond in some scale scope and magnitude and events in 2900 served as a reminder for just how the owner of the world's oil supply is when attacks in september briefly took $5700000.00 barrels a day off line as the outlook for oil remains bullish for analysts across the board higher oil prices could soon hit consumers at mom's pushing inflation hire a prolonged oil price surge could raise the risk of a global economic recession some learned that in 1970 s. . saudi aramco shares have now slumped to their lowest level since its record breaking i.p.o. as investors brace for potential iranian retaliation over last weekend's assassination of the country's most powerful general the stock dropped over 2 percent even as the price of oil rose 6 percent since friday as investors are increasingly concerned that iran could respond by targeting saudi aramco a key american ally in the region fears of

a possible cyber attack are widespread as a run has strong cyber capabilities and it has previously been linked to attacks on major banks such as j.p. morgan bank of america and wells fargo in 2012 saudi aramco suffered one of the worst cyber attacks in history when $35000.00 computers were partially wiped or destroyed by hackers now while the decline housewife almost $200000000000.00 on the company's market cap saudi aramco shares are relatively insulated from conflict as many of them are held by government institutions and regional investors who are less likely to sell the company now continues to lean heavily on friendly local investors to uphold its bloated valuation. joining me to take a deeper dive into these topics and to give us a broader scope of how markets are reacting we're happy to be joined by peter schiff of europe a civic. above the trading thank you both very much for being here so peter let's start with you gold and oil now are are spiking for very different reasons what do

you think is the better head right now to the geo political crisis is such as iran gold or oil or maybe just simply u.s. treasuries. well well 1st of all both gold and oil were moving up before the recent iranian incident so i think those trends are simply continuing i think there is a higher risk premium now being built into both gold and oil for a good reason and i think that risk premium is going to be there for at least the remainder of the trump presidency if not longer but i think what's really driving particularly gold but oil to a lesser extent is the fed it's monetary policy it's inflation it's to return to q we and the rate cuts and that policy is going to continue so i think both crude and gold are going to continue to rally but as a hedge i would favor gold over black gold now let's take a look at what we call digital gold it quiet is now also drawing amid heightened geo political uncertainty right now tensions have escalated over the weekend with iran's supreme leader ali come anigh promising revenge and president trump warning

to iran against the actions now bit quiet quite popular in iran they have been quite popular ever since last year and citizens have actually turned to the point to try to evade u.s. sanctions on the country so how will this escalation affect the coin and how high do you see this pushing. where you know we're still significantly from the highs i mean those were 752-0000 i mean the one nice thing about the crypto currency is it's unrelated to the federal reserve is unrelated to central banks it's not manipulated by them and you can't carry out a ton of gold out of a country if you want to leave versus if you have digital currency you can take it with you i think it probably goes back to 10000 i think probably at some bit makes a brand new high i do believe that the digital currency is the wave of the future i think that's the wave of beating the fed and all the central bank manipulation and things that go on throughout the globe so again i think it goes higher i mean i'm sure in some point we'll make a new hire now whether it be

a good point or one of the others that's the that's the real question remaining is which one is going to be the major player but in. the end of the day i believe that that is the way of the future we're going to see digital currency takeover not taken totally dead or gold but it's going to be a conjunction with gold especially again if you want to exit the country you can't do it with a lot of gold in your hand i wanted a good that is what i call decline rises actual gold and 1st of bitcoin is invisible gold at all i mean certainly people that are trying to market bitcoin and getting other people to buy it if they have a lot of bitcoin to sell they want to market it as if it were digital gold but it's not look yes bitcoin did rally on the coattails of the gold rally just like it did not too long ago when the war on growth through 7 i remember gold and bitcoin both rallied but bitcoin quickly surrendered all of its gains gold held on to its gains and continued to move higher look gold is being bought as

a hedge by investors because it is being bought as a speculation the speculation is that other people might buy it as a hedge but nobody is it is not a defensive asset it's not a safe haven bitcoin is probably the most risky asset you could buy and you don't hedge yourself by buying something that has more risk than what you're hedging you have to go to something with lower risk and that's gold now ali does that have more of it i would actually less quality than many of the theocracy that's currently an existent. bitcoin is less volatile it is a mile a child in the turkish. side of the iran. it's certainly a lot of that is certainly a city for haven peter listen you have to know it is right and ok gold is good but so is the equity market you know listened to what really goes on i mean quitters are up 30 times i don't care the thing times so you get one can't hedge you not get a hedge the stock market by buying big point big going is likely to go down more

than a star not going to just talking about it but i wanted to find out yes you can gold is a good age i guess you cliche that you can start going to gold you be broke if you try to do that every time i mean gold is just you know yes it like how is that true where you get like i am going to say hello this is going to are does go back in history guarded and i have got i have got a few different timelines i've got another segment on this or studied it but let's let's turn to bubba now let's turn to act the actual conflict at hand let's talk about the actual wide ranging implications rather than the assets so let's let's take a look at where we are now we are more interconnected and globalized than ever before what kind of global repercussions are we looking at aside from just the immediate spiking price of gold or oil. well i don't know if there's any maybe we don't know gosh is going to happen from here i think when you look at the price of gold gold is related and no question was going to rally before this is peter stated earlier gold was already rolling long before i believe oil probably hit near its high but

we're going to go now again i'm long or low at the point but i'm a little bit nervous here i think i assumed it would hit the saudi arabia drawn bombing highs of september which we have now done so i would not be surprised with oil fall apart from here. now there will be a chance problem with us as well. you know the big problem for the u.s. right now is we're more dependent than ever on foreigners to finance our deficits our trade deficits and our budget deficit are going through the roof we need foreigners in the dollar and this threatens that i mean again america is flexing muscles that it really doesn't have threatening sanctions against other nations and i think there could be a repercussion that would really you know hit us where it counts or that's in the wallet because if we get a move out of the dollar you know we're not really seeing a flight into the u.s. treasury market we didn't see a move up of the dollar as a safe haven it was just gold and i think if the dollar really starts to fall

that's going to accelerate the move up in both gold and oil but create a bigger problem for the u.s. economy as consumer prices and interest rates rise into the next recession and if we end up with in some type of war an actual war in the middle east on top of a recession well that's just going to exacerbate all the problems and pain right now the middle east is in the spotlight but let's not forget about china want china and the u.s. appear to be signing a deal on january 15th the economists actually had a different take saying that the plan is quote basis breakup is underway sides are now being picked up so what is this about. well remember trump was never able to deliver a substantive trade deal with china i said this from day one phase one is not a deal it's really a surrender it's a copout it's a way for trump to kind of say face going into the next election by pretending he actually accomplished something when he accomplished nothing i mean the whole trump presidency is really pretending things have happened when all we've done is

continue the bubble that trump inherited from obama it's bigger than ever and i think the boss is going to be much bigger than ever and again that's another reason that people should be loaded up on gold and you know gold stocks have barely moved in fact they're even down a little bit this year despite a $70.00 rise. as to the price of gold so gold stock investors are very cautious they don't trust this even though gold stocks beat the s. and p. last year quite handily they beat the s. and p. in 2018 i think they're going to beat it again this year and in fact when trump finishes his term we're going to find the gold stocks were the best performing stocks of the trump presidency very few people expected that nobody even realizes that's going on but this is another reason to really load up on not only i just gold but on the gold stocks which i think will deliver even bigger returns well argue about gold and digital gold next time peter schiff and euro pacific capital and todd horrors of dublin trading thank you both very time. here.

while the chinese trade delegation is planning to travel to washington for the signing of the china u.s. phase one deal on january 15th many onlookers are not convinced chinese and hong kong stocks solid shard products in afternoon on fresh worries about the relationship between china and us this comes as new reports revealed that the trump administration since 2018 has mounted an extensive campaign to block the sale of dutch chip manufacturing technology to china now this is a high level push which previously has not been reported shows the effort and the lengths the white house goes to in order to prevent china from getting a hold of the vans technology from microprocessors that compan began in 2018 after the dutch government gave semi company a license to sell its most advanced machine to chinese consumers now over the next few months u.s. officials attempted to block the sale outright and held at least 4 rounds of talks

with dutch officials with no way to block the sale directly the trumpet ministration then pressured its dutch ally to consider the quote security issues the pressure appeared to work as the dutch government soon after decided to not renew the s.m.l. export lice. and that machine has not shipped currently only a few companies are capable of manufacturing these sophisticated chips including intel samsung electronics and taiwan semi but china has made catching up to those companies in chip making technology a key national priority and is of investing tens of billions of dollars in the near future in this effort this latest development as concern on sino u.s. relations as investors previously were under the impression that the trade tensions would ease going forward that appears to be not the case. time now for a quick break but hang here because when we return wildfires continue to rage in australia as the to east coast continues to be ravaged correspondent john honey is on hand to break down how the nation's business has been affected by the blazes and

later boeing continue as their problems. in this at the so we break down what else has gone wrong for the embattled aerospace giant with molly barrows contributor to american lawyer and as we get a break here the numbers at the. i'm going to fulfill repeated promises possibly to the people and promises you know

we've all but the. 3 right. now you want to 1st. know. reality has mandates of its own that go beyond what our wishes and preferences are

. and our utopian visions maybe we're going to get a new deal but it may not be the green new deal that people are expecting will get the green new deal that we have we deserve rather think we are going to get a green new deal because the green you're dealing compas is things beyond just right infrastructure health care is in the new deal there are other elements if you go back 20 started in 2006 that we are going to get and that are popular in this country. that's. good food descriptions sound appetizing even for the owners so how to choose pet food industry is telling us what to feed our pets really more based on what they want to sell us they must necessarily good for the pet turns out may not be as healthy people believed. we have animals that have you know diabetes and arthritis they have auto immune disorders allergies we are actually creating these problems

it's a huge epidemic of problems and i believe can be linked to a very simple problem of diet and some dog owners so heartbreaking stories about their pets less treats the larger corporations are not very interested in proving or disproving the value of their food because they're already making it a $1000000000.00 on it and there's no reason to do that research. they. say. the way. the world.

wildfires continue to rage in australia as rain and cooler temperatures are bring some relief to the devastating flames the blazes have attributed to more than 20 deaths so far with many more people missing and hundreds injured are take or spotted john he joins us now live from miami with more on the ongoing situation in australia and the economic toll the fires are having so john what are the australian officials saying today about the damages and how much longer will these fires continue. there will the damage is a man's as you mentioned there's been rain and cooler temperatures right now that have helped firefighters several 1000 as they continue to battle these brush fires bushfires. but the situation overall remains dire it's having a huge economic effect and you know that aside from just the human aspect to this

all the millions of people that have been a vacuum weighed and those that have at this point lost their lives if you look at a fire map of the country which has been compiled by the government of western australia basically showing in real time where the fires are burning right now as we speak it really gives the size the scope the scale of the overall situation with more than half of us of australia on fire at this point and many of the fires are less than 12 hours old fuel by you know dry extremely dry conditions drought conditions high temperatures and you know the warm weather weather and also strong winds and while the weather at this point is helping to play a part in calming down some of the broad brush bushfires the rain and cooler temperatures along with all the firefighters that are involved dry and hot conditions are expected throughout australia again going into this week and that's not a good forecast as millions of acres have burned thus far with many of these fires

raging in queensland new south wales and victoria in fact officials in new south wales said this morning that 69 fires remain contained with a total of 136 fires in the state and warned that the fires could continue to burn for months to come possibly into march even april to give you a little more perspective take a look there are a couple shots that we got from space thanks to our friends at the international space station who tweeted various pics and one was taken on january 3rd showing smoke surrounding sydney and sydney harbor in australia another picture taken january 1st shows thick smoke basically blanketing southeastern australia compared with another picture that was taken of the same area on july 24th 2019 as far as the environmental impact of these 5. hires in new south wales from august through december 31st fires have a mid 216000000 tonnes of carbon dioxide that's nearly half of the country's

regular annual greenhouse gas emissions so this will absolutely have an effect on the earth's climate and the planet's overall c o 2 concentrations kristie devastating environmental impact but john is there any idea right now what else the economic toll has been. well you know it's a good question look a lot of numbers are still being compiled the such as and this is a big part of this such as the number of the total number of cattle and sheep killed which is expected to be enormous at this point according to various reports more than half a 1000000000 animals half a 1000000000 animals have died in new south wales alone so add that to the property damage structural damage that people are dealing with and this is certainly going to be an unprecedented event in australia's history with mass evacuations at this point ongoing so far australia's insurance count and surance council reports that

more than 260000000 dollars worth of claims have been found since november 8th when these fires when it was declared a catastrophe but that's only a portion of what's expected to come australia's prime minister announced $1400000000.00 in funding for the national bushfire recovery agency but again the total could certainly be much higher the fires in 3 states alone in new south wales queensland victoria have burned over 5 times the amount of area burned during the amazon wildfires in brazil as you may recall last year so couple all that with australia's tourism economy which is also bracing for a big hit this is the height keep in mind of the summer tourist season. with many of the australians accounting for the bulk of holiday travelers in the country so this will absolutely be a hit on the country's tourism economy the. exact toll the economic toll is unclear but clearly you know the greatest concern is not just the loss of money and landed

property but certainly at this point the loss of life at least 25 people killed numerous others at this point according to officials remain missing persons back to you if the situation gets contained correspondent john honey thank you so much. and jumping from australia northwest to india there may be new hope for jet airways the now grounded airline that once dominated the nation's air travel sector cinergy group and the brazil based conglomerate of bolivia businessman her main effort a mish has renewed its bid for a stake in the struggling airline now this isn't the 1st time that synergy has made a move to scoop the firm given that they were the only contender for a bid in 2019 once again live in india's airline sector jet airways has been grounded since april 29000 due to a major lack of funds according to live meant there may be other prospective

bidders including group a deadline of january 15th has been set by the jet's lenders as the deadline to file their expressions of interest the company's stock which has been battered since its grounding 8 months ago saw a bit of a reprieve on the news getting a slight bump of just less than 5 percent. new safety risks are be exposed a boeing as its edges closer to getting the $737.00 max out of grounding but regulators now have critiqued the jet and now have uncovered new potential design flaws and whether 2 bundles of critical wiring are too close together and could cause a short circuit according to a new piece from the new york times boeing claims that it does not want to change make changes to the plane's wiring if it doesn't have to siting fears that additional damages could be done during repairs boeing is now considering plans to raise additional debt to bolster finances strained by the grounding of its $737.00 max. the company now has about $20000000000.00 of available funds at the end of the 3rd quarter and now has to think about deferring some capital expenditures freezing

acquisitions and cutting spending on research and development to preserve cash. seems to be nonstop problems for boeing but at the same time the heavily but not stock now looks to be undervalued legal journalist molly barrows contributor with america's lawyer joins us now with more so molly what are the new problems with the 737 max. they just keep piling on for billing don't say well this time it's wiring concerns manilla cording to the new york times these previously unreported problems were found during an f.a.a. safety audit just last month and 2 sections of wiring in the tail as you mentioned of the $737.00 max are just too close together and there are concerns that the wiring could short circuit and cause a crash especially if the pilots don't react quickly enough and so we saw that was an issue when you had the 2 fatal crashes caused by the software when it came to the anti stall system and it was also pilot reaction that was an issue there is well not just with the software so boeing is now trying to determine if these wires

could actually cause such a short but aviation engineers with boeing have said this is not an uncommon problem it happens to other planes other airplane companies as well and that if they do address it it's a relatively simple fix it shouldn't take too terribly long however any sort of delay is bad for boeing at this point because that 737 has been grounded since march after those 2 deadly crashes again believed to be caused by that plane's new anti stall software system and the pilots understanding of it so boeing has developed a fix for that as well regulators though they haven't approved it yet or the planes return to service so that's what boeing is waiting for of course when they can get back into the air so on top of that the f.a.a. may also now require max pilots to undergo simulator training on this new plane initially they were going to require that they thought it was going to take up too much time expense before the plane got back in the air but as boeing modifies this plane it continues to address some of those problems regulators are now saying hey between this and the way. our ng especially since pilar reaction is an issue maybe they do need to have some simulator training as well so

a decision is expected to be made on that possibly next month so will we see a delay to the planes return to service given that it is in a little bit of a cash crunch. right they're not exactly telling us when it will be going back into the air certainly boeing doesn't know it's going to be between the f.a.a. regulators what they think and other experts are also working with boeing so it could be back in the air it's spring but they don't really know the grounding is lasted longer than they expected of course that has taken a toll on them financially especially since they halted production this month and that could last until february as well molly barrows a contributor to america's lawyer thank you so much for being here. thanks. samsung subsidiary star labs has been relentlessly teasing project neon a quote artificial human that will be unveiled at the s 2020 this week now we've all heard about artificial intelligence made tossed around before but what exactly is an artificial human while no official details have been released most signs

point to the release of some sort of additional avatar technology augmented reality will most likely play a big part in the system as the u.s. p.t.o. trademark categories covers a wide breadth of quote computer modeling services and computer generated characters now for reference of what something like this could look like remember joy in blade runner 2049 she was a hologram artificial human thrown from a projector this seems to be highly likely and stamped on it getting ready for the oncoming wave of augmented reality future releases for samsung and our losses and no 10 will soon learn more as the this week where our top producer branch of war is on the ground and will be taking us through all the newest innovations of 2020. that's it by this time you can catch boom bust on directv channel 321 dish network . or streaming 247 on that a t.v. the free t.v. . or has always had us up but you did the must. say next time.

but if she warned you can i do the dishes at the bazemore those jeans nudist beach and see me we didn't you the truth. about that when you guys e.q.'s. in the news i mean guys are that in fact involved. a lot of you will see sawing during fuzzy fights about who can ditch out the both

sides most school. doesn't need a list of. these but out. here in cherokee folks got caught but they were days doing it. in english they be a threat people who simply new to my neighborhood in total. senators financials while i don't fly i cause on a futures. think almost 5. of us about my age of the future progress. time after time corporations repeat the same mantra sustainability very important. transition to sustainable transport sustainability stay number may not be more equitable and sustainable world. they

claim their production is completely harmless. it. companies want us to feel good about buying their products while the damage is being done far away and this is something this must be done to anyone and i mean look. we didn't want anyone and i'm stunned. when. leak. was.

legal over. the head of nato because for a deescalation of tensions in the middle east and says the us acted on its own accord when its assassinated iran's most powerful general bought stolzenberg stopped short of condemning the killing meanwhile millions filled the streets of cities across iran for the funeral processions of this country's slain general custom soleimani. at moscow's christ the savior is this eastern orthodox christians around the world celebrate christmas. all the headlines we're back here next hour with another round up and stay with us for the kaiser reports next here a lot of international.