live from the world headquarters of the r.t. america our nation's capital this is the news with rick sanchez. i'm rick sanchez and i want to welcome all of you were 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 and what is the future of money what is china doing that we here in america for example are not well get this it 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 a big court. 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 trump should unveil a u.s. answer to big coin to rival china's digital one should the white house he that 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. is the list of the questions we think you'll be asking tomorrow is the united states making a mistake by not competing with china and digital currency what are global bankers doing about unpaid mortgages and other loans will tell you and why did an opinion editor quit and call out her employer the new york times 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. by meyer rothschild in the 1700s my best to explain the 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 vying for that control and testing digital currency may be some say a step in that direction let's begin today with r.t. correspondent 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 mates $101.00 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. perfect testing ground for trying to central bank backed by digital currency it's a project that 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 to the rest of the world this digital currency and 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 for using this digital currency but that the technology will 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. always so good at being able to put those stories together and explaining them to us and our doing but chris christie is a market analyst on the co-host of boom bust here on the r t america christy i think you probably heard that quote that i read from forbes magazine where they're warning the united states specifically the trouble they're saying look you know stop calling out everything how to do with digital currency is a joke stop attacking it and instead you should be jumping on board they were right they're 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.

its financial dominance because the pressure is on for the u.s. to also respond and to create their own form of central back to the currency because if china successfully launches this c.v.t. see it could result in the widespread adoption of this digital r. and b. to be used in emerging markets economies and international trade countries would actually no longer be beholden and dependent on the u.s. dollar for trade. is the chinese ringback populace or for that matter any populace 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 emerging economies to begin with because that is actually the economies that are most comfortable with using things as digital content digital currencies such as china and such as india countries emerging economies with large populations of banks 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 cab ben now 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 a 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 pal and pay pal 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 that 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 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 properties investment that work is also very prolific investor in

his own right. i guess the takeaway here is that banks are looking like they're getting stingy with their. money to become even more stingy down the line is that my reading this properly. well yes rick you know during the great recession everybody blamed to the banks for being too liberal in their lending guidelines and giving out a bunch of liars loans the ninja loans meaning you know no income no job doesn't matter right and so now the banks or 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 we're even during is this you know this kind of vicious circle this cause and effect where the banks over correct and i'm on one side of the. pendulum you know its wings back and forth right there are too liberal and then they become overly conservative and then that 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 the 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 a 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 renter getting some sort of loan work out on a mortgage either side renter or or homeowner but there are there are there are 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. you know i don't know it's hard to tell i'd say that 1st the pandemic goes we're probably in the 3rd inning ok so. it's still early we're we're in the 3rd inning 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 not of consumer products 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. 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 that rick sanchez if you're watching our special coverage when we come back we're going to talk about what's going on with the coronavirus search all over the united states in one place in particular with a where it is we'll be right back stay with us. here thank you for finally. understand you're tired networks. 'd you know me 'd i'm famous for my views. yours truly.

how to read out of read turn on the t.v. on the about the world was happening around me i see shows on the screen in last every day because of fake news narratives the steady state. to maybe cool someone believes enough christians would have to plow a brick by brick school is that make it my own house plenty of them in the store but i've found that network that oh. take a live news anywhere you go plus an elegant link curated online and video library with a built in search engine it will sit right in your pocket it's free interacting just arcane texas will jog 2. 1000 the president's text war videos uploaded every hour so what are you waiting for lift up the for.

all the fuel we don't need. everyone in the world should experience feel good and you'll get it on the old rolls. the old according to gesture. the modern world come along for the ride. they welcome back i'm rick sanchez more and more information is being released about former geoffrey epstein fixer glen maxwell now remember maxwell has been accused by many of the women who epstein raped they say she was an accessory that she was even in the room sometimes and kind of took part as sick as that may

sound that is why all of these new details about her as she awaits her new trial are get. a lot of attention and quoting the latest revelation that she may have married all married are to correspondent john harvey has more on this story. a federal judge denied bail for killing maxwell who pled not guilty to the charges of sex trafficking and the abuse of minors during a hearing tuesday this is prosecutors revealed that maxwell is secretly married though she refuses to give the name of her spouse to investigators another bombshell in a case that continues to drop bombshells sorted as they may be matched well according to officials posed as a journalist using me alias jen marshall who along with a man described as her husband purportedly a retired british soldier and author named scott marshall but the $1000000.00 new hampshire state or federal agents arrested maxwell july 2nd assistant u.s. attorney allison moe told federal judge alison nathan during tuesday's hearing

quote in addition to failing to describe in any way the absence of proposed cosigners of a bond the defendant also makes no mention whatsoever about the financial circumstances or assets of her spouse whose identity she declined to provide to pretrial services maxwell has been linked to tech company c.e.o. scott borgerson who according to various reports left his wife several years ago for maxwell who'd been staying with him at his manchester by the sea state as recently as last year it's perhaps one of several dozen places maxwell has stayed in the past year according to prosecutors and i suppose lawyer mark owen said it was an effort not to evade federal officials but instead to protect her privacy from the media and for her personal safety but judge nathan wasn't buying it denying maxwell's request for $5000000.00 bail agreeing with prosecutors that she poses an extreme flight risk associated press reporter larry new meister described

maxwell seemingly engaged and then dejected appearance at the video hearing you could see. maxwell shrinking is the hearing went on in the beginning she seemed in gaze she was looking at the screen in front of her and was writing things down and seemed genuinely interested but i think if she saw the writing on the wall and started to realize that the judge was going to keep her in custody until trial you could see your hang your head she looked dejected disappointed and at one point even seemed to wipe a tear from underneath one eye maxwell's trial is scheduled for july 12th 2021 it's expected to take about 3 weeks the question now will she survive her pretrial detention in federal lockup or meet the same fate as her former boyfriend and alleged partner in crime jeffrey abstain from the news with rick sanchez john honey

that is one whale of a question that john harvey just popped up there for us sorry that now this there is a bit of a controversy once again affecting the new york times that it centers on an employee who quit recently and did so in a very public way by airing all over so-called dirty laundry on her own website barry weiss is resignation including assertions that she fell bullied by her coworkers simply for disagreeing with weiss wrote that she was made to feel too right when those she doesn't view herself that way joining us now to discuss this is nationally syndicated award winning journalist ruben navarrette yes sir ruben joins us now to talk about the story does your in the media world right now what's going on with this why has this story apparently hit so many buttons. rick sanchez good to be with you again barry weiss wrote the resignation letter

that you and i have always wanted to write we have done our past left various news organizations and there's a journalist out there in america who hasn't wanted to write a letter like this and lay out in broad language and blunt language what is wrong with this place and this place in this case is the new york times here's what the story's about and here's what's important that york times needs to change it knows it needs to change because in 2016 it completely missed the story of donald trump's election and so we tried to bring in barry weiss to bring in different opinions as the opinion editor her job is to bring in points of view you might not normally hear or see in the new york times and she did that and for that she was bullied she was picked on she was run out of the paper here's why people forgot to ask the folks at the grassroots level hey do you want to change turns out they don't want to change so the people on high decide there need to be a change but the people at the bottom like things the way they are they're the ones who made her life miserable. my only problem with her assertions many of which

involve the new york times being too liberal is that i could go out of the middle of the street somewhere and throw a rock and probably find somebody who would say the new york times is too conservative because when you problem gate the hong kong situation make up stories about russia and are pro-war in almost every single measure are you really too liberal as she asserts. here's what she asserts not liberal or conservative but rather that there's a set narrative awoke narrative on every issue there is your knowledge to stray from that most people think for instance there's 2 sides to the gay marriage debate to the same sex marriage debate not the new york times there's only one side and issue by issue this is the case so what she said is instead of fostering curiosity and letting our readers figure it out we have a set narrative we're trying to tell our readers what to think and tell them there's only one way to think so in that regard man did she put her finger on what ails american news right rick i think c.n.n.

at the york times this is it you know you're absolutely right i mean if her point of contention in all of this is that they're unable to see how most americans are perplexed by many of these issues and they're not comfortable with the position that you hold then she is absolutely right because oftentimes the miami herald as well as the new york times as well as every newspaper in the country whether it's the one you grew up on or i grew up in tend to hold positions rather than just tell the stories and i think if that's the right she's making i think you're on to something. that is she's on to something as well every single issue out there gun control abortion capital punishment there used to be 2 sides we used to hash that out on the op ed page you have column right column left we don't have that anymore and she paid the price for that you're fired up about this i like that ruben navarrette really fired up ruben navarette joining us here about the world of journalism we thank you my friend for doing that with us we appreciate it thank you

let's go to another one of my great friends my my my my job but in. a guy like to hang out on weekends with and try and show him that old guys can still be younger and certain sports steve christakis joins us sometimes you. get to go to. the. board i guess football n.f.l. problematic american football we saw it with the n.h.l. b. and the n.b.a. coming back with teams negotiating between you know the players and the owners and everything it was a mess now the n.f.l. training camps coming up july 28th supposedly in the season is supposed to kick off september 10th so we're seeing it get a bit messy now with negotiations ongoing now between the players association and the league and so there are some key points now the players have proposed recently and i want to go through a few of them because the opt out clause is here for at risk players they want to receive a salary but not bonuses if they decide not to play calls for players with at risk families to earn a current season and benefits if they decide not to play and

a $250000.00 stipend guaranteed to all players if they do show up to camp and everything were to be shut down and that would go up to $500000.00 if they were to begin the season and then have it shut down due to cold or 19 so they're trying to cover their bases there for you know if you make me you say i have to come back to work right but if i get sick you're not going to pay me exactly yeah and they want to make sure now that this is where there's a caveat here there's a major sticking point where the league wants to consider covert 19 as a non football injury and if that would be that the players are pushing back on this because if it is a non football injury let's say you come down with kobe and you can't play for however long that is the team is not required to pay you if you are in a non football injury list so that's. aren't all these guys under contract they are so aren't they are they being paid right now if they were to participate in the if you don't play you don't get paid so also they're paid by games yet again checks in all professional sports so yes you have a contract but you're expected to fill those duties of the contract if you can't do to you coming down with copa 19 the league is trying to cut a lot of these guys are not being paid right now they wouldn't be paid if the

season doesn't start but in this case they would get this $500000.00 stipend if they started a couple games and had to shut down 250000 except for the guys who have guaranteed contracts and were signed with a big bonus at the beginning where they got $5000000.00 and right maybe you guys are fine patrick mahoney is 5 but not everybody's patrick. you're saying some of these guys are like nobody else i need a job yes exactly and you think i'm going to be able to play you know training camp starts in what 13 days about july 28th i don't see the season kicking off on september 10th what are your schedule between we were on college football i think is out of the question n.f.l. i think 50 percent 50505050 showing some highlights now this is one type of football that is going to play major league soccer as we call here in the u.s. is getting played so let's go to chicago fire here took out defending champion seattle sounders on a late goal from yet their communicate through with that game one around the corner going to check it out again 84th minute finish in that bouncing ball at the back post winning it 2 to one the 3 points move the fire to 1st place

a lot of sounders have now failed to win either of the 1st 2 games but orlando city coming up next they're looking for their 2nd victory after beating into miami and their opener now taking on n.y.c. f.c. already a 2181st minute makes it 3 to one to seal the win with a late insurance goal header their orlando clinch as a spot in the knockout stage now with that win along with philadelphia group a after they took out into miami which we showed you last week as you remember i'm sorry about your into miami team but it's not looking good to show it can delhi come down on the money thank you my friend. that's our news i'm rick sanchez thanks so much for being with us and we look. for you again here very soon as we like to say and something else will. go something like this news with rick sanchez where. the news will see the.

best geysers financial advice they say money to develop. a look let's take it easy this is a central bank support diagram is kind of problem right now so they stopped. during the vietnam war u.s. forces also bombs in neighboring laos it was a secret war. and for years the american people did not know. we mounted last how much it is officially a mouse pad rebounds country per capita. human history millions of unexploded bombs still in danger lives in this small agricultural country jordyn we don't think it's happening. even today kids in laos full victims of bombs dropped decades

ago is the u.s. making amends for the tragedy in laos what helped to the people need in that little land on. the world is driven by shaped by one person. it's military thinks. we dare to ask. for.

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