the he created an extension on his house he caught a new boat people out of new car for 5 year cars he brought another new boat he bought a lot of jewelry he's live in a large would you say the wealth on that street is this or that lee heading into that guy's house because he's able to counterfeit money and spend that money would you say that i mean that's not hard to comprehend. in the troubled 19 seventies a group of killers rampage through parts of northern ireland that was coordinated loyalists attacks particularly catholic population tens of flows and support forced to flee their homes and what was striking to put these attacks was a fear you see the police actually took part in the attacks so instead of preventing who they were active participants in the burning of schools streets in belfast take more than a 100 innocent civilians women. as the review continues and we found out more will

surprised about the extent and of the currents which the inclusion was involved in some of those cases the killers would lead to be named. and we're getting i think it went to do very very top i think. it was here where all the tape you walk on and give the go ahead. this is the one business show you can't afford to miss on fairmont and washington coming up despite trade tensions but china the united states is easing up on 5 the restrictions against huawei we'll talk about this. more with economics professor

richard wolfe on the head of a mistake or made in the oversight of the boeing 737 match because as lawmakers look to learn more about the jet and the 2 fatal crashes which surrounded it we have a power show today so let's just start. the u.s. commerce department released a new rule on tuesday that will allow american companies to collaborate with wall way on setting standards for next generation technologies essentially what this means is the new rule will amanda wall way entity listing and it will allow certain technologies to be released to walk away and its affiliates if it contributes quote to the revision or development of a standard in a standards organization will the u.s. added waterway to its entity list in may of 2019 this was over national security concerns a claim that wall way has repeatedly denied but in an interview with fox business commerce secretary ross clarified that this new rule is not to help wall way but

simply to quote help make sure we have ubiquity in 5 g. adding the change is really simply a clarification it isn't that we're doing something to help all way what we're doing is something to make it easier for global standards to be symmetrical ross reiterated national security concerns remain over while we still have g and said that spying is a very real issue will the rule is scheduled to be formally published this thursday . for more we are joined by a host of economic data and author of understanding socialism professor richard wolfe professor as always thank you for being with us today let's start with the shares in chinese telecom companies that have jumped following these loose and sanctions as i just mentioned u.s. secretary of commerce wilbur ross said that while we remains a serious national security concern but is this the start of the u.s. the sensually backing down. you know. it states widely expected for some time and is

a response not only to pressure from american companies that want to do business with huawei and rely on business with huawei but it's also pressure from other countries germany is a prime example that have already embedded while weight i think knowledge which is among the best in the world and the united states within a position over the long run dilutes wildly already has better technology of the united states in telecommunications and this is a recognition that the chinese really are a competitor even at the highest level and yes it's an accommodation because they become deliberate spendthrift of the united states who are they clearly economically well hold on to this posture of punishing this chinese company will prosper while weight has been at the heart of the u.s. china tensions at the heart of the trade war now that the phase one deal has been

fine in both countries that have touched on the progress that they've made a former finance minister and cabinet adviser for china. last week actually said that the 2 countries what it waste or shouldn't waste any time rather on improving their relations he said quote china emphasizes that we should work hard together to ensure the employment taishan of the phase one agreement are we especially going to see the u.s. a lemon a all sanctions against wa and a possible things to deal. well i think it's a political question i think the chinese are quite right they understand american politics this is basically not a question whether the administration of mr trump go into the election will want to position itself as good tough and the chinese or the person who is making a deal with the chinese that will benefit the u.s. economy one of the other strategy will be chosen and then the public relations will come out the way mr. rorts try to say we were just as concerned about security as

we were before which is the opposite of what he said a couple of months ago this is a political issue now to be determined by this group plans of the us that ministration it's been a political issue for quite some time now i mean on the show we've previously discussed weiwei and like you mentioned while weighs 5 g. patents now of the telecom giant owns most of them on 5 g. how will the us essential e how will they get the how they'll have to essentially pay wall way right the spite the span of what's going on there. will be 2 leading technologies in 5 g. all leave finish work for asian ericsson and the way cooperation china the united states has been defeated in this area it's not the cutting edge and by the way punishing china makes no more sense than punishing been the arms if a 3rd country got a hold of the leash access holds the same issues with arise what's the world is interconnected we are already linked in many ways look how quickly the virus spread

from one corner of the world to the other the notion that you can identify and promise one country and control technology is wrong as never were 'd and i think this is all a recognition that china has now fully the world of leading technology and will be there for the foreseeable future or foster or if i want to take it over overseas her for a minute here and now that the u.s. seems to be easing these restrictions well and brazil for example recently the u.s. ambassador to brazil todd chapman told that is how paul and his paper that the 2 countries there and talks to fund this new 5 g. product and they're saying that this would allow the u.s. to fund nokia and ericsson equipment and installation by local brazilian talcum companies what do you make of this continue fight for to be the 1st in 5 g. and the in the specially in these major developing countries. well i think they've already cut their deals with while away and they don't want to lose of and the

americans are not prepared to give them the amounts of money we've got because we're talking billions of dollars to make an expensive shift a shift it takes a long time this is the same concern that has led the british to kind of not deal with the united states on this is something which made the germans threaten the united states that if they push through we're just the germans are going to suffer and they're going to make the united states pay for that you put all this together and it just isn't worth while to go against the chinese they've got too far ahead of the united states much sooner than chimeric would or saw on it and not all of them is playing itself out so when even as dependent on ally as golsen are all in brazil it's going his own way with huawei and the united states can't do much about and we're learning 5 g. is practically an evitable without some sort of law way is what it seems professor richard wolffe host of economics but they an author of understanding socialism as

always thank you for your time today. thank you. the boeing 737 max jetliner has been grounded since march of 2019 after 2 crashes killed 346 people for more than a year congressional investigators have been thinking documents and interviews with f.a.a. officials in an investigation to see if boeing and the f.a.a. had a cozy relationship and overlooked problems with at 737 maxwell today the federal aviation administration chief testified before the senate commerce committee actually turned from that joins me now with more on this fair and what did he admit to the f a a and boeing did they have a little bit too close a relationship so sarah i mean to say that chief steve dixon was grilled by senators today is a total and complete understatement you had tons exchanges between all the senators and dixon but the short answer is he did not admit to the the f.a.a. and boeing being too close unfortunately the senate's investigation in fact the f.a.a.

has been stonewalling lawmakers actually by either taking forever to turn over documents that they've been asked to give congress or just not even turning them over at all which was the committee's actually biggest frustration today listen here. do you make every document every document. it's an easy question is it there is it would you make every document of the bill before the public. senator i'm not i'm not sure what normal protocol is on that but we will be as transparent as you possibly can no no that's not the question not that's what happened the last time you were transparent or so will you commit to making every document public. or i'm not i'm not in a position to commit to that at this point well you did not do your part of a cover up well also a surprising fact uncovered by senator ted cruz of texas listen here. has anyone at f.a.a. been fired. there have been changes in leadership in various areas no one has been

fired over this particular matter up to this point had anyone been disciplined over this matter no not specifically so unknown somebody made unspecified mistakes for which there had been no repercussions is that right i would not say that there have not been reap repercussions well please tell us the repercussions the repercussions are that we are we have significant reforms we're making to the process. so yeah tough day for steve dixon but he did say that he is committed to the oversight process and he also did admit that both the f.a.a. and boeing did make mistakes when it came to approving the 737 max too soon however it is important to note there that since these 2 crashes happened actually had a number of people fired over at boeing including their c.e.o. down a small in burke who was let go back in december welfare and this comes just a day after

a new bill was brought forward the aircraft's safety and certification reform act what does that bill contains so that this is actually the most significant step towards accountability following those 2 crashes because it is forcing lawmakers to look at how the f.a.a. approves new airplanes now this bill completely eliminates airline makers like boeing from having an influence on the certification process the bill gives the f.a.a. a total of 40 to hire or fire boeing employee employees doing f.a.a. certifications it brings in safety advisers and also protects whistleblowers because as we saw with boeing there were leaks text messages between pilots about the 737 max during the testing phase saying the systems were faulty but they were too afraid to come forward and well it sounds like congress is putting a lot of responsibility on the day but like boeing they too have made mistakes and how is this going to look going forward so it does help the f.a.a. obviously as you said have more authority but it's also very very easy for congress to say after the fact however congress is just as guilty and all that went down with boeing listen here. congress has allowed it or allowed it given the weather

the. uncertain things you know so i think that they did a good faith in what the f.a.a. was going to be doing with this with this with dorothy that they were hearing them but i think that it's been abused drugs will tell you they have been given the money by congress to to to to go to of this story operation so sarah when it comes to funding and this bill you know dixon says that he doesn't he. doesn't think that the f.a.a. hiring and firing that's going to add to the safety process but as far as the bill it would actually give the us a 150000000 over 10 years for the new training procedures and that's something that dixon said would be extremely helpful for the f.a.a. let's hope for the hour to correspondent karen thank you for that report. markets are on the rise or to hold onto this 4 day winning streak coming out of tuesday sharp gains we want to bring in

a boom bust co-host christine to talk about the markets christine what's going on here. well does look like the market optimism has resulted in a kind of an over what situation here and especially as we move forward we're going into the summer lol well it won't be any that much new data or catalyst it's going to be a data lol it's going to be a data vacuum where liquid you know will also be very thin and so that's going to impact trading and volatility and we might see some dramatic swings up or down as we enter it all week or pretty much all month long the market is being kept well supported and fully inflated by the constant injections by the bank this is a very well supported market here and it's hard to keep that down so right now there is a bias for positive news older negative news however there's still a lot of concern right now as beijing has just reported that it will be shutting down schools again amid a resurgence of one of ours outbreak we all priced in this recovery a sharp quick recovery and a bounce but how can we get that one the reality and the data showing that a 2nd wave is already coming as new cases are escalating again in asia texas and

arizona where you just mentioned the big bounce what are we looking at here this you shaped recovery v. shaped recovery so many predictions here what exactly if anything can you say we could possibly expect especially with the 2nd resurgence. well given the data so far it's very difficult for me to believe that we will even get that balance or you balance now that we're talking about the economy here not the market to be very very different thing seeing as how the market has just completely decoupled from reality with all the support injections and given so look we've had a weaker than expected industrial production and may manufacturing output it's still new to lows of the great recession and capacity utilization is only about 2 percent higher than what it was during the great recession retail sales apparently surged up yesterday but off of the very low base and the numbers are still well below pretty pandemic levels and then the stimulus checks they helped a bit at the 1st time around and now i'll keep us and all of it and they skipped

out on mortgage payments and credit card bills there's about 30 percent of americans who do not pay their mortgage payment last month so what's going to happen a month later from now when all of that comes due again and then on top of that we still have $20000000.00 people out of work and not liking to be working the same number of hours again come this summer so with all this it's really difficult to believe that the economy will bounce right back to the way it was before certainly doesn't seem like it that was boom bust co-host chrystia hang here because we have more to discuss with you right after the break time now for that break but stay here because when we return we take a special look at and what we can expect from the cryptocurrency in the age of the coronavirus now as we go to break here are the numbers at the. los.

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a full time job won't always pay for a place to live and missing just a month's rent can get you a victim to gunpoint if anything bad happens to any thing that just throws your budget off slightly. better catch up real quick or you're going to have a judgment of possession against you and get addicted anyone that's homeless is treated like garbage people look at you like a monster or someone bad or you chose to be there most of the time it's not the case see how it is to be pawns in the world's richest country. the european union has launched 2 formal anti-trust investigations into apple's app store and apple pay the 1st probe is over apple's overtax and some competition issues with spotify filed a complaint over apple allegedly restricting rules for the developers that use the

app store and limits users to choice to favor its own apple music service will rock a 10 filed a complaint alleging that apple takes about 30 percent commission on a ti books while favoring its own apple books while in effect an investigation it's looking into apple pie. hey and whether or not it violates e.u. competition rules the e.u. is concerned that apple is limiting or disabling altogether in app purchase systems e.u. executive vice president margaret message or said it appears that apple obtained a gatekeeper role when it comes to the distribution of apps and content to users of apple's popular devices while apple defended its practices on both fronts and said it's disappointing the european commission is advancing baseless complaints from a handful of companies who simply want to free ride and don't want to play by the same rules as everyone else. to coin is on its way back up as the world's largest crypto has climbed up over $1600.00 again as it attempts to clear that $10000.00

mark with a question how will that quinn break through this resistance or will it come back down again well joining us now to discuss our boom bust co-host christiane and ben foreign chrystia let's start with you what are we expecting to see or what do you what do you think will come from that coin over the next few days and weeks. well right now all toys are actually the ones that are contained just show a good sense of dominance but with big question we're back in the ascending what so i'm actually pretty neutral here rather than overly optimistic we bought the diff and back and now we're back in the mid 9000 where you have some very stable solid support but i would be a pragmatic optimist here because what is concerning is the lack of volume it's not a lot of follow through not a lot of trading going on same as we just mentioned in the equity markets right now as we're going to the summer lull so what we are going to watch here if we do get a breakout the next thing we're going to be looking for is a new relative high and there's a lot of evidence that we will be getting that soon because in particular we're seeing looking at the whole the way what these hallways are in active held by these

die hard when investors long term holders the core base so right now we've reached a 4 year high in the hallways now over 60 percent so that means that there are more people taking short term positions and out which means less. and the markets and i supply and demand go with increased ability and more long term holders we're building larger and larger bowl cycles and each time this next wave well done some analysts are saying that they could even climb as high as $12000.00 why is that yeah i think what christy just said a really bears into that as well which is essentially this that big coin has found kind of its new low which is around $8600.00 and if that becomes the new low the not the $3600.00 of the $3500.00 but $8600.00 now we're looking at a new kind of jumping off point so as far as moving past this $10000.00 mark i think we very well may do that and some analysts are saying we could go to around

$12000.00 that absolutely could happen because we're kind of looking at a crucial moment here that determines whether or not we're going to surpass this $10000.00 or we're going to fall back but at this point in the end what krissy just said is critical here that there is so much kind of volume right now and momentum behind what's happening with bitcoin not a rush like we saw in 2017 of new people jumping in but a holding firm of where we've been but i don't think we're going to see it slip back i think we're going to see it move beyond that 10000 mark breakthrough that ceiling and then head towards 12000 so essentially it's people who have already cryptocurrency that plan for a long time who are further investing in it right. but it's also not it's not this money flipping scheme that we saw in 201720178 lot of people jumped in because they heard about this thing where if you invest today it'll be worth twice as much tomorrow you have a lot of that that is gone that's been kind of shed from the market and with good reason and now we're in a much more stable place well kristie earlier this year

a san diego based silver gate bank which boasts 2300000000 in total assets well it began offering its customers to apply for loans collateralized by bitcoin how that digital currency exchanges that are also silver get customers well are we about to see more of dollars being borrowed with crypto as collateral here. absolutely and this is certainly interesting and it's really big news for the traditional institutional investor community but really this is something that has always been in the cards for the crypto community so i mean it's great news that you now have an a grand institution such as silver gave back in your cap to making loans out against it for you collateralized the asset but then again the entire point of crypto is to cut out the middleman get rid of it be a fully decentralized trust less system so when you look at top of the defined network has actually really mature throughout the year of 2020 now in particular the compound protocol on any just launched recently and it does the exact same thing it allows you to lock up your crypto earn and interest it's

a smart contract they have absolutely no interaction with a 3rd party software provider like the big 8 and then on the other end of it you can lock up and take a loan out on it in the form of us thinking that the credit or any other token collateralized you're so in effect is doing the exact same thing as over again but without the middlemen without having to trust an intermediary broker and without those heavy heavy origination fees so it just basically did centralized lending pool without putting all your eggs into one basket trusting the market or trusting another institution to hold your asset so that's the really amazing thing that comp token the 1st day that it launched it topped the ranks for the fire and it will now the largest asset in the file on the 1st day of trading meeting makers are we essentially going to see an increase in that these loans. absolutely because right now people do not want to sell out of a point as we just established these are going to be long term holders so these longtime supporters still need to make rent payments don't have expenses every

single day that they need to pay out in u.s. dollars so what the fine or does what they'll get allows them to do is to hold onto your bitcoin collateralized the big point and take out these loans again saying u.s. dollars that you can then use every day in your expenses center saying how people are because they're seeing such a rise and it go up so much that they're putting a lot of more money into the senate busting into it knowing. given in the times that we're seeing right now the ban this summer the u.s. supreme court will consider how to interpret the 1906 computer fraud and abuse act which is a key data protection law this could have a huge impact on crypto why is that. yes so it's the c.f.a. essentially it comes down to a case right here in georgia where i am of a police officer who essentially access the police database he was had at the authority to access it for law enforcement purposes instead he access that for personal purposes and so essentially committed a crime that's ultimately what the court found and it's gone through all the way up

to the 11th circuit court of appeals now headed to the supreme court the reason this is significant is because essentially what it does is it decides whether or not an individual is breaking the law by doing something that many people do which is take a use of the computer or computer program for a specific purpose and use it for something else in the fischel capacity that would have a huge effect on crypto currencies from a crypto perspective essentially and let me just read to you how this would affect it would it affect those who spoofed churn or wash trades they may be subject to criminal liability under the c f a if that activity violates the exchange of terms of use and so essentially there's a lot of action that takes place on the crypto side that may not technically abide by crypto exchanges terms of use and if you act differently than that in the process or any attack on the block chain network could essentially are not regulated as an illegal immigrant sort of regulation and coming into effect. was

one of those regulation it's taken in the existing law and it's and it's criminalizing it in a way that it had not been used before so that in the case of the police officer just so people understand the actions of the police officer have been done by many police officers probably in the past right you have access to a database for official use and you use it in a way that it was not intended for personal use. that happens in many cases but this is the 1st time that it's been treated as a criminal act and that's why it's significant cohost spend so on and christie i thank you for that panel. thank you that's it for this time you can catch him bust on demand on the brand new portable t.v. up available on smartphones through google play on the apple app store by searching portable t.v. or stream us to your t.v. by downloading a portable t.v. on apple t.v. and online a portable the t.v. will see you next time.

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