central banks and later toys bull run has picked up again uncertainty of the pandemic what is the hype here to stay we have a boom bust table standing by to catch us up on the crypto search show today so let's dive right in. and we leave the program with the latest in trade negotiations and trade negotiations between the united states and china u.s. president donald trump told reporters tuesday he had canceled a planned aug 15th review of the trade agreement between the 2 sides continue his criticism of china's handling of the crow virus pandemic. you know why i don't want. i don't want to deal with what they did. or i don't want to. do it out. to the world. they stopped it from going.

so that's correct. meanwhile white house chief of staff mark meadows told reporters tuesday the mandated review of the agreement had not been rescheduled as of yet but insisted trade representative robert lie highs or has been in regular contact with his chinese counterparts now the chinese ministry of foreign affairs for their part spoke more broadly about the strain on u.s. china relations on wednesday. at present sino u.s. relations in serious and difficult times because for some time the u.s. government has unilaterally troubles and one tonally adopted in the series of words of interfering in china's internal affairs china's interests in seriously damaging u.s. relations we urge individual american politicians who are proceeding from the well being of the people of china the united states and other countries in the world to listen to the voice of the international community to which cold war thinking to

look at china and sign a u.s. relations objective to walk in the opposite direction with china to make way to promote sino u.s. relations to return to the track of the coordination and cooperation and stability . and joining us now to discuss is host of economic up there professor richard wolfe richard a professor wolf it's always a pleasure to have you on the show i think there is a big question here when we talk about the cancellation of these trade talks is this trade deal dead. absolutely not let me be as clear as i know how to. listening to president trump explain that he won't talk to john or because of what they did to this country it's a desperate effort to transfer the blame for not being prepared to recall the virus for not being able to. for the roth fact the united states were ordered standard beat world's population of the world that's 25 percent of holding

and the caribbean efforts to blame not on china which no one else in the world can see it is an extraordinary act adding said that the rhetoric i'm proud china is not matched by words let me give you 2 examples over the last week surveys were done big businesses in hong kong with all the noise about what the chinese did in reasserting their authority no one in china no major business is leaving china or has any plans 2nd example bring american chinese traders don't the asian great and great jane american companies in china and a recently released survey 80 plus percent of the businesses there i have no plans to read because they don't believe there's anything more then they're all

jury why the president in a difficult the election will look as though he can bash the chinese rather like it bash immigrants and others in the past this is not a bad trade trade it is a hostage held probably election and most of the players that matter here believe that once the election is over none of this is going to be continued very much for of and pontificating about what might happen in the election if president trump is unseated is obviously a discussion for another day but i think the question here is a lot of attention is given to. said trump because he'd like to say a lot of things but what do you make of the chinese reaction to all of this posturing from the united states you know they've been very hardline about everything that's going on with this tech war as well as trade and have while away tic-tac and all of that what are you making of their reaction to this. you know reaction strikes me as cautious careful very much the opposite of it's clear.

we provoke them polish issued me a response and i think that for 2 reasons as long as this is rhetoric as long as this is the right tool electoral posturing if it doesn't fundamentally affect it joining me there ok and the truth of the matter is if you go into your neighborhood the department store they ask majority of chinese things that were on the shelf a year ago or they're on the shelf again this year right now and still the fundamentals haven't been changed and let me add because it's true if the chinese were really upset they could add and they would have taken action against american corporations in china comparable to what the u.s. has gone to chinese companies here they've done nothing or a good story so call the always insightful professor richard roth host of economic

update thank you so much for breaking it down forth today my treasure thank you. and the u.s. dollar fought to stay just above 27 month lows as investors were waiting on the release of minutes from the federal reserve's july meetings now you will remember the federal open market committee declined to announce any new policy steps at the end of those meetings though in the minutes released way the officials at the meeting agreed that the ongoing public health crisis would weigh heavily on economic activity employment and inflation in the near term and was posing considerable risk to the economic outlook over the medium term. now adding that they will hold interest rates at a range of 0 to point 25 percent until they are confident that the economy had weathered recent events and was on track to achieve the committee's maximum employment and price stability goals onlookers had hoped for a look into a crystal ball of sorts which might point to the fed's policy stance ahead of september's meetings so let's dig in with former fed insider and c.e.o.

of pulling teligent danielle de martino both danielle thanks for joining us again. great to be here now what are your key takeaways from the. minutes released wednesday. might my key takeaways come down to 3 words at some point there was verbiage that said that policymakers would be considering other steps at some point that diverge is from what was said but what has been said by policymakers what was said in a previous statement was was at future meetings at upcoming meetings so the lack of specificity really did get underneath investor skin and we saw stocks close down which as you know is fairly unusual in this environment when all they seem to do is be able to go up but investors were definitely not encouraged by these minutes they were disappointed you know it's just much of the next policy meeting is set for september it will be the last before the upcoming november elections what are we anticipating coming out of these meetings or are we going to see any policy change

. well i think there is still a significant possibility that we do see significant action at the september 16th f o m c meeting but i think that message is of the minutes today is that the fed is trying to push back on the congress the fact that its it feels its tools are limited in terms of meeting small business needs and that that the federal government that congress needs to come together with the administration and put together a stimulus bill that the fed will happily then monetize do more q.e. to to fund but i think that that was the main message now if markets are to step back and if there was to be a deep correction and i say deep i can't even say with a straight face but if stocks were to go down by 10 or 15 percent i think that that would certainly prompt the fed to move regardless of whether or not congress remains at loggerheads through this september the 16th meeting it's always hard to say because congress will remain deadlocked as we are in

a contentious election cycle right now and i don't want to look at something as you talk about stocks possibly dropping 10 to 15 percent which is. to say with a straight face as you just mentioned now with all of these concerns about the u.s. economy apple actually had a market cap of 2 trillion dollars on wednesday becoming the 1st publicly traded company in the u.s. to hit that mark and of course it should be noted that just over 2 years it took just over 2 years for the company to double its valuation what do you make of this latest milestone. so i think that apple hitting 2 trillion dollars is emblematic not just of the fact that they have they have a massive franchise they have a massive footprint they've created their own ecosystem if you well but it's also a reflection of the fact that the fed is going to continue to print $120000000000.00 a month the fed is actually buying apple bonds as if apple needs any help at all from the federal reserve i call that a travesty thank you very much but it's emblematic again of the fact that the federal reserve's monetary policy what they're doing right now is growing their balance sheet it continues to go to the largest players and increase the size of

u.s. monopolies which does not by the way benefit main street in any way and we've seen that with i think the top 12 richest americans have actually gained somewhere or are now worth about one trillion dollars and we've seen that just happen this week amid a pandemic which is devastating the economy former fed insider and c.e.o. will intelligence booth thank you so much for that insight. thank you. i. an australia has entered a deal with british drug maker astra zeneca for a potential vaccine it would supply to its entire population free of charge the government announced tuesday now the vaccine developed by astra zeneca and 30 university is in late stage trials involving thousands of volunteers showed prime minister scott morrison issued a statement praising the deal saying the oxford vaccine is one of the most advanced and promising in the world and under the deal we have secured early access for

every australian if this vaccine proves successful we will manufacture and supply vaccines straightaway under our own steam and make it free for $25000000.00 australians and as the race for the vaccine continues let's take another look at the trends and spread of the virus globally with r.t. correspondence i tab to die where are we wednesday sobran right now more than 22000000 people have been diagnosed with called it 19 some 15100000 have recovered while more than 780000 have died in the u.s. cases are nearing 6000000 while deaths are all mad at 175004 granted i want to discuss vaccines because that's only hope right now given that these numbers just keep going up and up so right now researchers around the world are working on developing more that 165 vaccines for the coronavirus $31.00 of which are currently in human trials and while vaccines typically take years of research and testing before even reaching the market scientists right now of racing to produce an

ineffective vaccine by next year and even some by the end of this year so let's take a look and for the sake of time i'm only going to discuss the ones in phase 3 and the ones already approved so for the 1st the ones in a phase series of 1st we have my during our now that's the 1st u.s. company to conduct phase 3 trials and if successful they're expected to hit the market by april of 2021. and there in there is a bio and. pharmaceuticals now that's a collaboration between a german american and trying to pharmaceutical companies working together and right now they're working with 30000 mile in tears in the u.s. argentina brazil and germany and if successful in trials they're expected to deliver about 100000000 doses to the u.s. by the end of this year then there is can see no biologics now there is a chinese company that already released a vaccine for a limited use on the chinese military while it's also working on face to trials in

civilian use in saudi arabia now they're expect their release date has not been an ounce then there is a vaccine developed by the british swedish company astra zeneca which we discussed earlier and they're working with the university of oxford and they're doing their study based on a chimpanzee study now that vaccine is now in phase 3 trials in england india brazil south africa and the u.s. and if their trials are successful which and they're extremely aggressive in their trials so they're expected to start delivering emergency vaccines as early as october then we have the. institute of my logic products now they're developing as c. a vaccine which the state owned chinese companies see you know far put into clinical trials now their target chairman they announced earlier this month that a vaccine could potentially be ready for public use by the end of 2020 now pseudo farms also testing

a 2nd vaccine now this one is developed by the beijing institute of biological products and they're expected to be ready by the end of this year and then we have the private companies biotech now they have launched phase 3 trials in brazil and indonesia now they're expected to be available by march of next year 2021 lastly there is their murdoch children's research institute. based in australia now they're working on the same vaccine that was developed 100 years ago to fight terror reclose says and they have not announced yet where and their release date for the vaccine is going to be now these are 2 companies that have released small amount of vaccines for either a limited or early us 1st there is a can see no biologics now that's the same a chinese company i discussed earlier which released a vaccine for limited use on the chinese military then there is the russian game ally of research and institute which earlier this month announced that he had

granted the world's 1st regulatory approval for the covert $1000.00 vaccine after just 2 months of human trials now the demo institute is expected to submit the results of their clinical trials later this month and vietnam so far has agreed to purchase anywhere between $5250000000.00 doses of that so we'll see in the coming months whether any of these deadline set by these companies or governments goes as planned front party correspondents are tender thanks for keeping us up to date. and time now for a quick break but hey here because when we return we analyze the surgeon big oil as investor uncertainty looms over the global economy as we go to break here the numbers at the close all red arrows across the board.

action. no. points your thirst for action. is your media a reflection of reality. in a world transformed. what will make you feel safe. isolation community. are you going the right way or are you being

that. direct. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or a maybe in the shallows. what we've got to do is identify the threats that we have it's crazy sunday shouldn't let it be an arms race. spearing dramatic to follow only closely and. i don't see how that strategy will be successful very critical time to sit down and talk. and welcome back big point has had

a very strong run as of late shooting above the 12000 dollar mark as recently as monday but is the bull run now beginning to slow some analysts say that while things have been surging big may actually have a tough time establishing a foothold above 12500 in the near term as bullish positioning in the market is starting to look overstretched joining us now to discuss is. one and christiane. thank you both for being here today christy i got to start with you on this one i want to ask you point blank is because bull run about to come to a halt. then i respond point blank no just because the kind rejected the 12400 mark doesn't mean that the rally is over the trend line is still intact suggesting that this correction is nothing more than a very healthy pullback and so there are a couple of reasons why you had this rejection namely that the there is a significant resistance near the 13000 mark as well as high funding rates so pullbacks in general they're pretty healthy and we've seen this in previous cycles

where you've seen wrap it up surges followed by very sharp corrections and this minor pullback and i do mean minor this is only a 1000 which is nothing for this was very very minor this was nothing more than something that a lot 0 of funding raised to neutralize and over leveraged positions to get flushed out which is exactly what happened so in all likelihood we will get some consolidation at the $12000.00 level similar to what we saw at the $11000.00 level that we've been kind of trading around for the past week or so so a big client is still acting above the 100 day and the $200.00 day moving averages which is very bullish and more importantly demand and adoption metrics still remain very very healthy and favorable as a u.s. dollar index just hit a 2 year low. as we talk about going above 12500 there are some concerns that we'll never reach the lofty goal of 100000 because there are a certain number of hardliners out there who don't want to let it go of their big point until they become or it becomes worth 6 figures is that

a real concern. i don't think so in fact i think the idea that if you are holding on to your big going then you don't want to use it or spend it or trade it that's you're contributing to a problem is completely wrong look the bottom line is that's what got big going into trouble going back into 2017 in the very beginning of 2018 was that you had people in there who were not true. really invested in that going in terms of the actual value of the token they wanted to get in and then flip it for cash that's not the value of big coin and so ultimately the fact that big cohen has a set number that have already been created and the fact that there are only going to be a certain number of holding on to them is actually going to make them more valuable so i don't think it will weaken that the idea that if more people would trade them and move them around that the value would grow faster what that might be true but that was a problem in the past and i think that is avoiding that problem kind of with the infrastructure that's being built around it right now chris i want to follow up on

that because it is that an issue that the world's most popular cryptocurrency faces which is there are so many different schools of thought as to what you do with it whether you hold on to it whether you spend it whether you trade it regularly is that an issue i don't think it's an issue at all because that is kind of where all coins come into play because right now i like to kind of compare the coin to almost a us dollar euro because all the all coins right now they trade against the u.s. they don't trade against us they don't trade against all of them do trade against their coin and all of the client they serve a specific purpose whether or not their use for currency transactions or moving currencies or whether it is actually for payment processing bitcoin itself is not a good payment processor because it does take time it's our expensive and it does take time to transfer and it is not as seamless as say repl so there are different purposes for every single all clients so they kind as it stands alone it is a store of value now christiane to follow up on something we wanted to talk about yesterday making time for now there has been

a lot of outrage over potential changes happening at the u.s. postal service although the postmaster general actually said tuesday that the u.s.p.s. would suspend operational changes until after the november elections but amid this crisis the u.s.p.s. just filed a pen for a system to use block chain to secure mail in voting what are your thoughts on this i think it's a little late in the game to implemented something as ambitious as this considering that elections are a couple. months away and they've merrily just decided to file a patent for that so most likely nothing will be ready in time for the elections and they will still have to deal with the mail in ballots so this patent that was published is something called the secure voting system where a voter receives a code in the mail and combines identity and the correct ballot information the system then separates the voter identity from the votes in order to ashar ensure anonymity and store the votes on the distributed ledger so all of this is very ambitious and given the current changes that are happening over at u.s.p.s. the complaints of packages getting held up for weeks if not months going missing

are under levered it's very unlikely that research building testing and implementation will be done in a couple of months prior to elections given that u.s.p.s. is already are already facing issues with staffing as well as compensation so i think it's very coincidental that they're rolling this out now especially when the new postmaster joy is being asked to appear and from the house oversight committee to answer for all of these internal problems and seems like he's trying to deliver a solution a little too little too late but what's your take on the situation. agree it's too little too late there's no way that's going to happen in time for a november election absolutely not i mean at this point it's impossible if you look at what the state of washington has said who does by the way a pretty successful job with mail in voting they're really the only state in the country that does they say that setting up a successful mail in voting probe program can take anywhere between 5 and 10 years to do it so the idea that you're going to also back that with blocked chain based technology in 3 months not going to happen but having said that there have been

a lot of pushes over the last few years to move voting to a blog bases that not just mail in voting but all voting so that there is an actual trust the system built into the election system and i think that's something that we should see in the future and that's something that should be worked on that is just of already been done in the past but it should be worked out in the future to get us there because i think a lot of the questions that surround election intel. gritty and fraud in the elections could be answered by using logic and i want to go back to because i'm here for a 2nd because there's actually an interesting stat about 98 percent of big coins purchased between 2013 and now are worth more than they were purchased for ben quickly before we run out of time here what does that say about the overall value of big oil. yeah i think it shows it was a great investment for everybody who's gotten involved in it for the most part they have succeeded on some level of having a store of value that's worth more today than it was the day they bought it 98 percent and that means that even taking into account that shuji dip that we saw in

2018 where a lot of people said oh look it was terrible it wasn't good after all actually it has but 98 percent of those who have been involved in it are seeing more about you so i think it only goes to prove they're not just big point by the way but all coins as well that's the place to be boom bust co-host ben swan and christi i hope you guys are part of that 2 percent always a pleasure. hope not to think and that's it for this time you had a boom bust on the man of the brand new portable t.v. app which is available on smartphones and tablets with a google play an apple app store concert in portable t.v. portable t.v. can also be downloaded on a newer model model samsung smart t.v.'s as well as roku devices or simply check it out at portable dot t.v. we'll see you next time. on the.

oh yes look. at the connection to the middle out and ask for the last company and seen and done today with the that's. going to shift. in the. usually going on among the. legion. you nic are so set on the opening match theme you mama just back in there and have.

an entire village in alaska has had to move if another country trying to wipe out an american town. we do everything in our power to protect. wanted to escaping climate change poses the same threat right now alaska does seem some of the fuss just coastal erosion in the world we lost about 35 feet. 35 feet of ground in just about 3 months while we were measuring. it is fast enough he says the river is 35 closer than how the woman was here for i think we're part of a murderer 1st for murmur. summer

solution oh my street just sort of all out there in this serious doubt that a recovering would be dollars agent the globalization of what comes next with the investment bouncer lawrence. lawrence welk of. crazy. oh i wouldn't go ome he just took out a syringe from. me to shop with heroin. but i have been waiting for the moment of complete and total societal collapse i never knew it would happen this. new york alone. has become a place of. demonstrations were driving through. on the side shooting in the city.

going. to some of the seems to. be going to the 2nd grade so we're not even the. police let you know. what's going on behind those walls the richest country most powerful. has the worst response there's. nothing about it. that's going to be so great. we're going to have maybe and. maybe in. new york.

the. people in belarus take to the streets for an 11 day support of the president to go . see if you look. at. the new leaders say they don't recognize the results of the belorussian election and will impose sanctions on top officials this is despite brussels warning against any external interference in the crisis. russia's foreign minister also urges any outside meddling after the leader. raise.