it's the one business show you can't afford to miss or in washington coming up. with you know why i don't want the. u.s. trade talks with china have been put on hiatus after president trump claims he does not want to speak to the asian superpower we dig into the comments of what it means for trans-pacific relations in the age of copa 19 plus the us dollar is struggling to stay above recent lows as the federal reserve minutes are taking center stage we bring in insight from a former fed insider on what to expect in the nation's central bank later bull run has picked up again uncertainty of the 10 demick 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 cancel 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. of 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 which 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 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 achieve 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 matching my words let me give you 2 examples 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 change 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 pray. 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 you have way tic-tac in all of that what are you making of their reaction to this. your reaction strikes me as cautious careful very much the opposite of it's clear. we provoke them polish is shoot me a response and i think that are 2 reasons as long as this is rhetoric as long as this is the right general electoral posturing and it doesn't fundamentally affect it john i mean they're 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 'd 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 right there they could and they would have taken action against american corporations in china comparable to what the u.s. has done 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 4th today pleasure 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 and now its any new policy steps at the end of those meetings though in the minutes released where 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 0.25 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. policy stance ahead of september's meeting so let's begin with former fed insider to you as well as belgians. 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 and now it's just much of there's 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 that 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 it's 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 it's 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 well 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 hard 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 the 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 will 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 around or are now worth about 21 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. of quill intelligence daniel de martino 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 so when 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 all of 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 corona virus 31 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 wants are already approved so for the 1st the ones in a phase series so 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 there is bio and. pharmaceuticals now

that's a collaboration between a german american and try any farmer suitable company working together and right now they're working with 30000 mullen tears in the u.s. argentina brazil and germany and if successful in trials there are 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 church 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 the murdoch children's research institute. based in australia now they're

working on the same vaccine that was developed 100 years ago to fight to 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 are 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 chinese company i discussed earlier which released a vaccine for limited use on the chinese military then there is the russian get a 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 gama'a 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 point as investor uncertainty looms over the global economy as we go to break here the numbers of the close all red arrows across the board. i. will look forward to talking to you all. that technology should work for people. i robot must obey the orders given to human beings except where such orders would conflict with the 1st law. we should be very careful about artificial intelligence and the point of view is. trust our government.

conflicting theories cha saying with artificial intelligence will something different. the obama's protect its own existence is next. summer a solution oh my screen just sort of all out there in this serious doubt today recovering would be dollars age the globalization what comes next with the investment manager lawrence. lawrence woke up. an entire village in alaska has had to move if another country to run the wife of an american. we do everything in our power to protect the. water they 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. is fast enough means the river is 35 closer to the power than was 4 i don't think were part of her 1st for. israel media a reflection of reality. in a world transformed. what will make you feel safe from. the isolation for community. are you going the right way or are you being

lead so. what is true or is faith. in the world corrupted you need to descend. to join us in the depths. or and maybe the shallows. and welcome back because in his head 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 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 gold if you want to

christiane thank you both for being here today kristie i've got to start with you on this one i'm going to ask you point blank is big calling is bull run about to come to a halt. then i'll respond point blank no just because they can reject of 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 rapid upsurge is followed by very sharp corrections and this minor pullback and i do mean minor this is only a 1000 which is nothing for decline and so it's very very minor this was nothing more than something that allowed 0 funding rates to neutralize and over leverage 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 the big client is still acting above the $100.00 day and the $200.00 day moving average is which is very bullish and more importantly demand and adoption metrics still remain very very healthy and favorable as the u.s. dollar index just hit a 2 year low and now ben as we talk about going above 12500 there are some concerns that because it will never reach the lofty goal of 100000 because there are certain number of hodler is out there who don't want to let it go of their big oil 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 it's 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 truly invested in big coing 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 tastes of

a specific purpose whether or not their use for currency transactions or moving currencies or whether it is actually for payment processing coin 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. line as it stands alone it is a store of value and now christiane to follow up on something we wanted to talk about yesterday make it 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. . yes just 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 have merely 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 confronts identity and the correct ballot information the system then separates the voter identity from the votes in order to ashar ensure anonymity and stores 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 undelivered 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 issue is 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 in 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 group 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 and voting but all voting so that there is an actual trust this is. and 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 integrity and fraud in the elections could be answered by using block and i want to go back a bit quick 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 a big point. 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 print 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 seen more value 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 kristie 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 by certain portable t.v. portable t.v.

can also be downloaded on 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. someone else shows seemed wrong. i don't really see just don't call. me. yet to see. just the attitude and in detroit equals betrayal. when something find themselves worlds apart we choose to look for common ground. so what we've got to do is identify the threats that we have it's crazy it isn't foundation let it be an arms race is often spearing dramatic development the only

place really i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk. was. our eyes. first after the 2nd world war our country was facing a lot of challenges how to ensure our sovereignty how to conduct independent policies how to maintain peace that's how the history of the atomic industry starts . to ask was my. eye on

the arms race gave birth to meek atomic industry 1st of all to nuclear power generation. to be the new kind of pallet industry was created the midst of post-war devastation the fact that you could stand against a powerful nation like the usa was a miracle but a miracle that was to make the impossible possible. that you're being launched on to build a huge growth and information war with a 1st rate of peaceful that's the sensation is real flood of visitors from all over the world. and it's a rebirth of the industry i think nuclear power is out future. prosecutors

in belarus opened a criminal case over allegations the opposition's newly formed ordination council is illegally trying to seize power something the euro backed body denies. disli e.u. warns against meddling in european leaders agreed to impose sanctions on pumping accusations of hypocrisy. russian opposition figure how to save the romney is it intensive care after falling sick during a flight to moscow. and counted as prime minister is accused of a cover up after suspending parliament at a time when the government is embroiled in a corruption scandal.