line from the world headquarters of the r t america in our nation's capital this is the news with rick sanchez. i'm rick sanchez and i want to welcome all of you watching us from all over the world i'm quoting those of you who are watching on your mobile phones using the portable t.v. up it may very well be that while the rest of the world especially the united states snoozes china is moving along with its plans to create the future of money what is the future of money what is china doing that we here in america for example are not well get this is now testing a new digital currency so here is what we know china's central bank

is confirming today that it's going to be testing a mobile app for storing and exchanging the war on not as a paper entity by the way but rather as a digital like for example. the world learned about this when this screenshot appeared on social media take a look at that right there see it you can see there from the image that this appears to be sort of a marketing tool to get citizens chinese citizens comfortable with the idea of using and trusting digital currency now it's important to mention that china is stressing that this really is quote only a test but is it and if it isn't why are they so ahead of the game at this point force right forbes one of the world's leading business periodicals is warning the white house right now the trepan ministration not to continue its

present course of banning and attacking cryptocurrency in fact let me show you this recent headline from forbes it says quote why try should unveil a u.s. answer to bitcoin to rival china's digital one should the white house he bet advice so what are we going to do we're going to have to break this story down for you right here on the news with rick sanchez where we remain convinced that stories like this show that it really is time to do news again. part here we go with a list of the questions we think you'll be asking tomorrow is the united states making a mistake by not competing directly with china in digital currency. what are global

bankers doing about unpaid mortgages and other loans stuff incredible story by the way a lot of dimensions to that and then why are near riots breaking out in israel and what's it all got to do with bibi netanyahu all right let's begin with the question of what china is doing and why it may be critically important to almost any and every person who uses money to exchange goods and services this quotation supposedly uttered by meyer rothschild in the 1700s may best explain this story and i'm going to give you the quote he who controls the money controls the world right now the u.s. really controls the money but china is buying for that control and testing digital currency may be some say a step in that direction let's begin today with our t. correspondent ben strong. well that's right rick b.p. b.o.c. on the people's bank of china is moving forward with testing out its brand new

digital currency the 1st major test of this digital currency and yes it appears that it will be done through a very popular food delivery service called nate's 1 may 21 of the largest apps in china with nearly half a 1000000000 users it is owned by chinese tech giant 10 cent and it has about 65 percent share of the market this makes maine 2 on the perfect testing ground for trying to central bank backed by digital currency it's a project has been underway now for over 6 years chinese authorities are pushing to have the digital currency fully operational they say and then use by 2022 for the olympics that will be held in china a place where they can showcase for the rest of the world this digital currency still a lot of questions about how this digital currency will work in comparison to actual crypto currencies we do know this that the chinese currency will be linked to a holder smart phone number and transactions will take place through it and that been pretty interesting here reg reports indicate that not only will you be able to use an. app in order to buy and sell in exchange using this digital currency but

that the technology would be designed in such a way that you can actually tap your phone to another phone in order to make a transaction the idea is to simulate the process of paying with cash handing cash back and forth between 2 individuals but again all of this on digital currency and all of that happening through a smartphone for the news with rick sanchez. thank you so much been always so good at being able to put those stories together and explaining them to us and our doing but christiane christie's a market analyst on the co-host of boom bust here on the r t america kristie i think you probably heard that quote 'd that i read from forbes magazine when they're warning the united states specifically the trump white house they're saying look you know stop calling out everything having to do with digital currency is a joke stop attacking it and instead you should be jumping on board they were right there absolutely right i mean china's progress towards testing and launching its

digital currency has only gained momentum during this entire pandemic crisis so now for the u.s. that means that they have even fallen further behind as they have pretty much already lost the battle over 5 g. and right now this entire thing this threatens the u.s. is financial dominance because the pressure is on for the u.s. to also respond and to create their own form a central back to all currency because if china it successfully launches this c.b.c. it could result in the widespread adoption of this digital arm be to be used in emerging markets economies and international trade so countries would actually no longer be beholden and dependent on the u.s. dollar for trade. is the chinese populous or for that matter any populous anywhere in the world ready for something like this that is so revolutionary how do you get people to suddenly start using digital currency instead of their credit cards and their regular cash that they've been using for the last so many hundreds of years i

mean that is kind of why i stressed emerging economies to begin with because that is actually the economies that are most comfortable with using things as digital con and digital currencies such as china and such as india countries emerging economies with large populations of unbanked people people who don't have access to a bank account to actually don't own credit cards who have never own credit cards but every single one of them own mobile phones all of them are connected to the internet and because of that all of them have been using accounts such as things similar to pay pal cash than most things like that where you transact digitally not necessarily with a bank account this would just be another form of legal tender that china is offering so it's a central back to jail currency within the digital wallet that all the citizens are already very accustomed to using in china people already accustomed to using alley pay and hourly bucks which are very similar to pay powell and pay pal buck so they already familiar with how to pay digitally this is just taking a step further and making it so that instead of issuing out alley bucks which is specific to only alibaba companies this is going to be legal tender issued by the

central bank which is going to be accepted everywhere countrywide seems like forbes is right that you know it's something that if nothing else we need to be keeping an eye on and maybe either investing in or competing with china in this endeavor thanks so much chrystia as usual doing a great job explaining these types of stories to us we appreciate it 3 major american banks are stockpiling money over fears the coronavirus recession could get even worse let me tell you who they are j.p. morgan chase wells fargo citi group have all set aside almost $30000000000.00 that they say is going to be there to try and cover it. loan payments that americans are increasingly unable to make loans include credit card debt that americans are making business loans mortgages in forbearance that are sometimes being delayed in some cases up to a year that people are telling their banks look i'm not going to be able to pay my mortgage for at least 6 months in some cases a year depending on the bank depending on the terms joining us now to talk about

this is jason hartman jason is the founder and c.e.o. of platinum property investment network he's also a very prolific investor in his own right. i guess the takeaway here jason is that banks are looking like they're getting stingy with their money and about to become even more stingy down the line is that am i reading this properly. well yes rick you know during the great recession everybody blamed the banks for being too liberal in their lending guidelines and giving out a bunch of liars loans and ninja loans meaning you know no income no job doesn't matter right and so now the banks are are being more conservative there's no question about it even as they have stockpiled between the 3 big banks that you mentioned about $28000000000.00 we are seeing mortgage applications for both

purchases and refinances go through the roof i mean consumers homeowners and home buyers cannot resist these low rates it's causing an artificial boom in the housing market and there's a lot of repositioning as we talked about when i was on with you prior people moving to the suburbs but one of my fears is that it will see what we have seen happen or had seen happen after the great recession or even during is this you know this kind of vicious circle this cause and effect where the banks over correct on one side of the. pendulum you know it swings back and forth right there too liberal and then they become overly conservative and then that really hurts the housing market hurts the economy overall so that's one of the things we need to be mindful of is that let's hope they don't over correct it is good that they're being

careful for sure but over correction is just as bad let me take you in a different and interesting direction that conflicts somewhat with what you just postulated and with what a lot of people are saying and fairing and that is that so many people out there are going to owe so much money and they're taking all this stimulus money but many cases they don't have jobs and they're not going to be able to pay down their mortgages oh my god the sky is falling and that means that eventually we're going to have one hell of a bad economy right ok. you know let's go in a different direction and suppose that all these people are actually not idiots and because the government is putting money in their pockets they're able to use it in a wise way and help boost our economy down the road what. is this pie in the sky or is there a possibility that this could happen as well. you know it's a it's a very interesting point you raise rick because you know the basis of wealth for

the individual the family or the society is capital formation and what a lot of people are doing right now although we don't have any you know very detailed statistics on this yet but a lot of people are using their unemployment money their bonus unemployment they may not really be unemployed you know a lot of people are good workers and you kind of can't tell their own business it's very hard to really know and what they're doing is they're not paying their housing payment they're not paying rent they're not paying their mortgage they're in a forbearance program and they're stockpiling cash so interestingly it's so strange these are strange times where in some some people are actually going to come out of this pretty darn well even if you think they have a hardship because it might show up that they're on a forbearance program or they're living in an apartment and not paying rent or

getting a reduced rent or getting some sort of loan work out on a mortgage either side renter or or homeowner but there are there is they're using that to save money because they're living in their house for free or at a reduced price so you're saying that by them stockpiling this cash what we could accept actually have is the opposite of what many are predicting that we could have either a big or small boom economy somewhere in the near future. yeah i don't know it's hard to tell i'd say that it is 1st the pandemic goes we're probably in the 3rd inning ok so. it's still early we were in the 3rd inning and and we've got a ways to go the economy is definitely in trouble there's no question about that but there are definitely some bright signs talked about before there's a shortage of supply and housing automobiles lot of consumer products and so this

is the supply demand shock that we are about on a prior show. great stuff as usual jason hartman joining us to talk about some of the things that may be happening from up on the ground perspective which is where he lives by the way which is not theory or thesis but actually what's going on pragmatically thanks again jason appreciate it thanks rick this is the news with rick sanchez and you're watching our special coverage when we come back we're going to talk about what's going on with the coronavirus service all over the united states in one place in particular will stay where it is we'll be right back stay with us. ah no t.v. no crowd. no shots.

actually felt. going to let me stress both of those 2. points your thirst for action. i'm chris hedges the corporate coup d'etat has destroyed our democratic institutions the commercial media is burlesque part of the reality show presents expose the trivial see on contact question more. i've seen the horrors that arise with money and evil. corporate criminals who trace countless lives to add just one more dollar to their billions. they threaten they bribe they'll do anything to keep their crimes in the door but the people they've heard are demanding justice their stories need to be told on america's lawyer.

dear you are thank you for finally. understand you're tired of networks ready. no matter what. you know me 'd i'm famous for my views. yours truly. i'm holland cook i invite you to climb with me of the mainstream media and from that higher fan to glimpse the big picture question more. they welcome back i'm rick sanchez we're going to turn now to the corona virus pandemic where today the hot zone continues to be south florida several sources and

the medical community that i have spoken to over the last 48 hours are telling me that they fear that hospitals may be on the verge of running out of 2 things that are very cryptic critical the medicine rendez of here for example an intensive care unit beds but it's not just florida where this surge is taking place it's all over the united states and in many cases in hotspots all over the world our responsibility to you is to try and highlight some of them and tell you what's going on so let's go over now to our t. correspondent sites have been here she's the map all the kind of break all these numbers down for us where you got more than 13500000 people around the world have been diagnosed with the virus 7900000 of which have recovered and more than 585000 people globally have died with the u.s. brazil u.k. mexico and italy accounting for most of the deaths now just here in the u.s. more than 3500000 confirmed cases 45 percent of which have recovered while

139000 people have died rick. but i also you know just like you said i want to take a look at the next map that i want to put up and there is also new hot spots that are emerging all throughout the states. throughout the u.s. i should say as states like oklahoma and the vatican are reporting record number of new cases and also hospitalizations and deaths and as these numbers keep climbing you obviously see that this pandemic is far from over specially here in the u.s. that's now reporting on average about $62000.00 new cases per day rick and that's triple the average just a week ago you know it's interesting as you show us that we see look at look at that map everybody just right behind cya there look at that red area as it seems to accumulate around the states of south carolina georgia alabama mississippi parts of

texas but the but the real ground 0 there seems to be florida writes here yet not that's exactly right because you know we saw the news surges and the majority before where in texas california and florida but like this is the that's the thing rick florida has about how the population of california and about 25 percent less than texas and as of tuesday florida has the number 2 death rate in the country in fact the number of new cases reported in florida alone over the past week surpasses the total count on most european countries and if florida was its own country it would have the 8th highest case in the world but this is the thing where as new cases in florida are mostly in the miami dade county before they're now spread all over to in orlando jackson will tampa st petersburg i mean all around florida this is really going out and going around the virus and currently 54

hospitals have reached i.c.u. capacity in florida. with 0 beds available is 0 beds now 10 of these hospitals on their miami dade county and now there are 40 hospitals to i.c.u. at 10 percent of valid vailable capacity or less and i mean just really bad news for florida but i also want to make another point so both the c.d.c. and the world health organization now recommend that people were masked as a way to slow the spread of the virus but and the c.d.c. has even stress that the u.s. could get under the bed could get a pandemic under control in less than 2 months and every single american were a mask but still florida refuses to have any kind of mandate versus tech says that even has some kind of requirement and california so it seems we're just going to see the numbers keep climbing in a florida if nothing changes rick yeah it looks like there's a lot of fragmentation when it comes to the policies that different. different public officials are putting into gear it's amazing by the way what you just said

that number you just threw at me is startling if florida were country it would be the 8th highest country in the world in terms of in terms of coronavirus cases wow . good job thanks so much for bringing us the numbers we appreciate it near riots broken out on the streets of jerusalem as protesters took to the streets there to call for the resignation of the country's prime minister police used crowd control measures like tear gas and barricades water cannons on demonstrators who say they are fed up with benjamin netanyahu and his alleged acts of corruption the prime minister is presently under indictment you should know so here's our tease paulus lear with more on the story.

well thousands of protesters tried to break into the prime minister's residence in belfast street in jerusalem they were carrying torches and they saw trash cans and life and also 2 objects the police and journalists it was an event that was made to coincide with the storming of the best studio in farms and it took the police several hours to bring the situation under control now the protesters consider themselves part of what is called the black flag protest movement and they go is to see the overthrow of the fine minister benjamin netanyahu they are against his continued government many of those who were out in the streets are people who have been suffering the effects the public mind in the bluff they jobs many are out of work but they say it's not only dependent itself that the prime minister is not got a grip on the things he they want to see he's gone from power they offer it up with

his corruption look at what some of them had to say years believe there's a good chance that the people will realize that there is a leader dragging us to a dangerous place this is why i'm here and i hope that in the coming demonstrations all others will join the protests. all groups must unite every day not just once a week to protest and in the end she will go home. for 3 years out in the street to get the sad part of syria. and then the man if we have every misstep was strange that i tell people that mr jackson bags at one point be peaceful having to physically remove people from the gate of the prime minister there is a dent in the end of the base to some 50 people for disturbing the public order and also throwing objects at the police and at journalists the protesters issued

a statement in which they said that the prime ministership at the sponsibility and they called for him to do so. if i had by the signing they also say that the current coalition is nothing to improve the lives of ordinary israelis least of all the time of coverage 19. of the policy are reporting to us on the situation that we're seeing there on the streets of jerusalem george galloway joins us now to talk about this you know this is a side of israel that a lot of times the world doesn't see it is a robust democracy with people who have very different points of view how big a problem george do you think prime minister netanyahu has on his hands with this. i think it's very serious i think it could be the beginning of the gave years in any case as you said indicted facing trial on serious corruption cases it's extraordinary in any country such a person could still be sitting as the prime minister of the country but he keeps on winning or at least not losing the elections 4 of them in

a row every one of which he was predicted to lose but somehow stays in the prime minister spot the deputy prime minister on a rotation now benny gantz has more or less the same policy as him towards the wide middle east issues but as you've rightly said this is about domestic politics it's about corruption coronavirus unemployment spreading poverty and a sense of that this prime minister is not going to be the man to get out of this steep downward slump the country is in so if you on my own his prediction i don't think he's much longer for the premiership in israel but he is the longest serving one they've ever had you know it's interesting it seems it seems like there's a pattern going on here george all over the world whether it's the united states or the u.k. or brazil or israel leaders who may have had some perceivable flaws. those

flaws seem to have been heightened if not exploited suddenly by what's going on economically and healthwise all over the world with this covert 1900 pandemic. that's exactly right you know when the bus is going for want then nobody needs to worry who's driving it but when the buses lurching and slumping and maybe even crashing bus when people start to raise questions if basic levels of competency are maintained political leaders can get away with a lot but if the public suddenly decide that actually we don't like the direction that we are travelling in then no power on earth can stop it as you see is really is a very disputatious people they are fiercely democratic you have to leave the big

picture out of it internally fiercely democratic and of the law doesn't hang about when corrupt politicians are around several israeli leaders have actually ended up in prison never mind being puto office so i think that as we say in scotland rick his jacket is on a shaky nail. you could always count on you dirt to come up with some great idioms to share with us there and we certainly appreciate it george galloway thank you my friend always good to have you on here ok here's what we're going to be doing throughout the course of the day we're going to try and keep an eye on some of those numbers for you to try and bring you the very latest on what's happening not just in the united states but all over the world there's also been a controversial media story with a reporter who has stepped down a writer at the new york times it's making a lot of hay not only in the world of media but in the world of politics as well and we're going to address that as we continue right here on the news with rick

sanchez wherever like say. the good news. during the vietnam war u.s. forces also bombs neighboring laos it was a secret war and for years the american people did not know. until our cell my skin is officially a mass cavalry back country per capita all human history millions of unexploded bombs still in danger lives in this small agricultural country jordyn wieber went on a kind of attack that even today kids in laos full victims of bombs dropped decades ago is the us making amends for that tragedy in laos what help do the people need

in that little land of my. grandfather's financial survival guide i don't buy a i pass on a futures. face of the 5. as of last summer if i actually fish or cracker watch kaiser. i know to no crow. no shots no. action. no arrests no. points your thirst for action.

seems wrong but all in all just don't have. to get to see power to stay active. and engaged in equal betrayal. when so many find themselves worlds apart we choose to look for common ground. and . the hey folks next up one dennis miller plus one we'll talk to joe testa to are we have a shared experience on monday night football so we'll pick his brain about that laws govern new show on a.b.c. i think it's thursdays at 8 o'clock it's called holy moly huge gigantour when golf miniature golf.