actually. his portfolio and. the other huge way when the money management space is got 20 percent of his portfolio is the world's biggest now in actual gold bullion. circuits and so that tells you also that the u.s. dollars days are numbered. trade and investment have become magic spells to conjure economic development. most people think about trade they think about goods and services being exchanged between countries and the investor chapter of a trade agreement is about something very different but what when investment leads to toxic manufacturing that destroys secrets into the environment. that means local communities that are being poisoned if they object if they do anything that the company feels is interrupting their profits they can be certain. of taking on

the whole nation philip morris is trying to use i guess yes to stop tour of the white implementing new tobacco regulations aimed at cutting domestic smoking rates a fringe company sued egypt because egypt resists minimum wage democratic choice trump. joint says we try to fund. throughout its history with the self-proclaimed islamic state terrorist group have recruited up to 30000 foreigners from all over the world to fight for the. sounds of russian citizens left their country to join the terrorists often. wives

and children with. what he's done. on you to the moon hundreds of children and widows were held captive disappeared. back in russia children's families willing to search for them.

this is move us the one business show you care to afford to miss a bore in washington coming up as tensions between the united states and china continue to rise the agency for power is looking to cut back on its holding of u.s. debt straight ahead we're going to break down the significance of this potential move and how the u.s. is responding and late and after equities slipped on thursday markets are still on shaky ground later on we're going to go ahead and analyze the state of global markets after a hectic week plus the pain demick has delayed several high profile movies this summer but the 1st big blockbuster of the season is getting a late release so for a holiday weekend we have an analyst on hand to discuss the state of the film industry packed show today so let's dive right in. and another day another escalation between the u.s. and china on the trade front now the latest the white house is asking for. all

federal agencies to detail china related funding this includes any and all federal funding that aids or supports china or that directly or indirectly counters china's unfair competition and malign activities and influence globally now this comes from a document titled strategic competition with china cross cut but that document does not indicate how the information is going to be used it only currently says that it will inform policymakers on the many different ways the u.s. spending involved china on the campaign trail us president donald trump continues to hit china as a work that still needs to be done to protect the u.s. i think we're way ahead of what we were 4 years ago and is far more enthusiasm our base is bigger it's stronger and we've done the greatest job again if we didn't get hit by the plague from china this thing we wouldn't even have between us i wouldn't cancel the congressman most of the rallies i wouldn't need it around and. that's

a little bit unfair but that's ok that's what john has done to our nation they've screwed as for a long time or a lot of different ways no never has anybody ripped off our nation like china and i've take it in billions and billions of dollars we never tested we never took in $0.10 from china and i gave $28000000000.00 right $28000000000.00 to the farmers because they were targeted unfairly by china. so how does this latest push to inform policymakers on how us spending involves china affect the relationship between the 2 nations well joining us now to discuss our boom bust co-host ben swan and christiane i thank you both for being here as always kristie i actually want to start with you. is this new document just another way of presenting china as an economic threat to the united states. it really ends as the u.s. and china have grown increasingly antagonistic towards each other this. data

request will apparently be used to help policymakers strategically when responding to china so a spokesman for the o.m.b. confirmed the agency's effort to quote ensure that the u.s. remains strong and in a position of strength against rival nations like china so using language like rival nations like fighting words so the white house is not asking for data on all u.s. government funding used to counter chinese influence such as the bell and road initiative funding for military infrastructure spending on 5 g. a wireless communications e.b. space tech and more so right now as it currently stands this is a fact finding mission in a data gathering effort at the moment it is kind of laying the foundation for what steve benen referred to several years ago on $27000.00 as quote draining the swamp to see what lies underneath but the budget of you could lead to more actions against china eventually now ben we know the trump administration isn't just talking on these issues in fact president trump just made another statement on air force one that his administration is looking to banning even more chinese apps that

it says quote could pose a national security threat and quote which apps is actually talking about here. well he hasn't specify which you have to talk about but base if you base what he's saying what india is doing india just banned about 118 different apps most of them are gaining apps that come out of china some of those companies are owned by by dance by 10 cent and some by baba but i think the bigger issue is this that what the trauma ministration is really responding to is the fact that there was essentially a kind of checkmate to their move over to talk in the last week and as you and i have talked about on the show before the fact is the drug administration came forward and said we're said the deadline and to talk us to be sold that's the u.s. canada new zealand and australia operations by essentially september 15th by dance look like they were going to do it and then the chinese that was the checkmate was when they came in and said we're changing the rules and making sure you understand you can't do this now all of

a sudden we went from there will be an announcement about to talk in a couple of days to everything seems to a stalled out so so far it seems like that move by the chinese kind of worked in countering what trump was trying to do by essentially taking away talk the most successful social media company in the world right now and handing it to an american company and in the meantime the response to that i think from the german ministration is they don't want to look like china got the best though it will have to ban something else now in order to kind of show that we're still strong and you know kristie i want to get your take on that because china did seem to successfully halt the trip administration's for sale of tik tok is that just a speed bump more or has the sale been actually complete or killed completely. i don't think it's been killed completely by china is known to be particularly savvy playing politics and stalling and as you know stalling and running out the clock is particularly effective especially when we're talking about election year so china is fighting back accusing the u.s. administration of stealing chinese ip stealing chinese tech and chinese jobs so

very hypocritical since that's what trump has been accusing china of doing so for the time being beijing has set up some very effective roadblocks that would make any deal impossible. within the time line demanded by washington right now so they're essentially stripping tick tock of its recommendation algorithm and requiring the government approval for its sale so it makes tic toc a very unattractive target so it's like buying a fancy car with a cheap engine are like the crown jewel defense where you strip away the most valuable assets to make it a less attractive target to take over so now the takeover front run as we're talking about microsoft wal-mart or will they now actually have to re-evaluate how much tick-tock is actually worth if it doesn't come with the algo it's not very attractive without it and it's not a very smart business decision to buy it at this point so meanwhile tech talk is filing a lawsuit challenging the effective order to ban tech talk without due process and currently it's all so unclear what authority that the president has to actually ban an app in the 1st place when we have these escalating tensions between the nations

that it could become kind of a punch counterpunch scenario and now we're learning that china is plenty to do it u.s. treasuries how much of an impact can china have on the u.s. by doing this. so this was a move that we've explored last year during the height of the trade where there were frequent rumors that china was looking to like go for nuclear by selling some or all of its over one trillion dollars of u.s. securities so this shadow wasn't all talk after peaking in 2013 the chinese holdings of u.s. debt have been steadily declining and are currently near the lowest levels in 8 years but 1000 gradual unwinding beijing has never shocked the market with any major liquidation so far but now the continued escalation that threat may not be too far off now so it is cause for concern and certainly suggests that the fed may soon have to step in with another massive q.e. to purchase whatever china has to sell so right now beijing the latest beijing publication announced that china may gradually reduce its holdings up to about 800000000000 from the current levels of one trillion after the us federal deficit

increased its risk of default and so the key reason stated for the liquidation is that they are concerned about the rising debt load. as if the deficit is already hitting a record of 3.3 trillion so it's a very legitimate concern but at the same time this will also nosedive the value of china's main treasury and to stabilize our base at the very double edge sword bed and i got about 45 seconds left but i want to hit this last point is actually expected to surpass the united states to become the world's largest economy within the next decade what can you tell us about that yes we do see that china is on track to do that that's according to a report that came out of beijing now look the german ministration is doing everything that it can right now to slow that down the question is going to be whether or not voters agree with what the president is doing i would say the president's kind of staking some new ground here where past administrations have not taken such a hard line stance with china he's pushing that certainly on the campaign trail right now as we heard in those sound bites you played earlier and the question will be for voters is whether or not they agree with this and they want to slow china

down and try to keep america dominant around the world versus whether or not they want to vote for someone like former vice president joe biden who obviously during the obama administration had a much softer line on china i think it really comes down to how voters see it and we don't know the answer to that yet boom bust co-host ben swan and christi hi thank you both for your time. and the final 2 days of the week have been tough on wall street which generally has an impact across the globe so let's see where things ended up where to start in russia where the mo x. is down for the week after some volatile days now this week the ruble plunged to its lowest level since the height of the pandemic oil and gas also contributed to those losses as the country's economy relies heavily on the energy sector let's move to asian markets in china the shanghai composite it's down for the week despite an increase in the country's services sector activity in august now the

index dropped nearly one percent on friday alone following wall street sharp declines in hong kong the hang seng well that is also in the red for the week the index fell on the news that the tick tock sale could be in jeopardy even as china and see it launched a new tech e.t.f. listed on the exchange now the index still fell 1.25 percent by the end of trading the nikkei in japan well it's just barely up for the week by 1.4 percent still following similar trends the index closed lower on friday after a sell 'd off in u.s. tech stocks pushed wall street to its steepest fall in months in india the sensex it's also down for the week on week global economic data as well as that massive sell off on wall street going to see that trend over and over again now the metal index was down 3 percent followed by the farm up bank and energy sectors in australia the assets followed similar trends the index plunged and suffered its sharpest one day loss in 4 months

a 3 point one percent dive on that wall street sell off plus they entered their 1st recession in 30 years in australia the all shares in south africa is also in the red the rand is weaker as the country's major retailer treuer its international reported a 28.2 percent decline in full year earnings we're going to go ahead and move to europe in the americas where we're seeing pretty. a lot of the same here in london the foot the it's in the red for the week that tech sell off on wall street weighed heavily on european markets on friday the u.s. labor department reported adding one point $4000000.00 jobs for the month of august helping european markets gain back some of those losses the footsie 3 month a low this week the german dax well it's barely down while the french cac it almost finished positive for the week but went red late friday afternoon both reacting to the trends we're seeing across the globe on thursday france revealed a stimulus package worth 100000000000 euros to prop up the economy now we're going to go across the atlantic to brazil the ebo best but it's also down on the week

latin america's largest economy plunged to levels it hasn't seen since 2009 g.d.p. fell by 9.7 percent for the 2nd quarter of this year the most on record industry fixed as a fixed investment and household consumption they all contribute largely to the loss we're going to move north to mexico where the b.m.v. it is down for the week the country has lost more than 12000000 jobs over the past few months the b.m.v. fell on thursday again on that wall street tech sell off here in the u.s. all 3 major indices they are in the red the dow the nasdaq and the s. and p. the tech sell off brought all the indices down now on friday those tech stocks deepened but travel stocks and retailers they helped push the market back up just a bit but not going positive at all financial stocks boosted markets with a jump in yields j.p. morgan goldman sachs and citi group they all saw gains on friday and finally the ts x. in toronto it's also down on the week the energy stocks actually weighed down the index

with oil prices falling to early august lows the index was up on friday on lower unemployment and more jobs added in august now moving into the holiday week here in the united states we will keep an eye on the tech sector to see if that volatility will remain or if markets are going to bounce back and that is your global market walk and time now for a quick break but hang here because when we return the pain. demick has delayed several high profile movies this summer but the 1st blockbuster of the season is getting a late release this weekend we have an analyst on hand discuss the state of the film industry and as we go to break here are the numbers at the close.

she stressed to make sure that the bush and the bill of the. us to. stop the show was so huge she needs to taste it she's a cia which quite a shock. to which she does. not want you.

and i must get your kind of woman in the air force you. want to go to the show through my it's your bonus for should be. it's a mistake so it's a good. look into the spirit over this interview are you going to teach history to actually. listen to the phone or should stay in spirit. expressed. insulin resistance is affecting people all over the world it's a condition that wreaks havoc on the body's metabolic and immune systems and results in poor quality of life for many. people to realize that this week's trees can be the worst poison.

welcome back 'd a new report from the world gold council claims that gold's latest bull run has come to fess but still has room for growth now according to the deputies see the combination of high and certainty easy monetary policy a very low interest rates positive price momentum the depreciation of the u.s. dollar and fears of higher inflation fueled record flows of $734.00 tons into gold backed e.t.f. e.t.f. said in the 1st half of this year now meanwhile the u.s. dollar has started to read. bound from a multi-year support level simultaneously the prices of both bitcoin and gold have dropped off so joining us now to stress are 2 bus coasting crypto analyst ben swann and c.e.o. of euro pacific capital peter schiff thank you both for being here now peter i want to start with you what do you make of this w g c report and where is gold headed. well 1st of all gold had

a lot higher i agree with the report and the price of gold going to go up i think the world gold council that's actually underestimating just how high the price is going to rise because i think they're also underestimating how much inflation global central banks are going to create in particular the federal reserve and how much value the u.s. dollar is going to lose against other fee currencies but in particular against real money which is gold and i got to quit because i have to ask you this peter you have often been here touting the the popularity of gold why you should invest in it is there ever a time where you feel like it's not the right investment. well 1st of all i don't even look at gold bullion as an investment i look at it as a store of value as an alternative to cash so i think it's always makes sense to have some cash right i mean especially if you think assets are expensive if you think stocks are overpriced if you think real estate is overpriced and you don't

want to buy now you want to buy later how are you going to store that purchasing power i think storing it in gold historically is much better than just relying on a piece of paper even the best currencies i have a poor track record relative the gold so if you understand what gold is then you should always have some but right now i think it's particularly important given how much money the central banks are printing particular the fed i think gold is going to make a much normal a bigger rise against these currencies but as an investment i think that investors should be in gold mining stocks i think warren buffett had it right by buying baron gold which i own myself and i've owned for a long time but there's a lot of other gold stocks that i think are particularly good investments right now given how much value i think gold is going to gain in the months and years ahead sometimes you have to go to square one i just had to cover that quick bet now since the dollar increase from it monthly open in september 1st the price of bitcoin

declined from 120-862-1116 extension 0 now gold has seen a similar response declining by nearly 1.8 percent in the past 2 days is strengthening dollar going to end bitcoins current surge. no 1st of all i think that when we especially when we're looking at what peter just said about inflation these numbers don't take into account as remember the federal the fed reserve chairman drone policy just came out a few weeks ago and talked about you know altering and changing the fed's stance on inflation and letting it run moderately above 2 percent all of that linz itself into both big cohen and gold but just simply are acting in different ways but both as a store of value assets now listen we can disagree about whether which one is better and which one you should go into but here's what i know i know there are a lot of companies right now that are starting to move some of their money over into cryptocurrency because they're afraid of what the fed is doing to the dollar so listen this is a long term gain in the for talking about long term gains the fed is not winning

a long term gain they continue to print money devalue the currency and continue to essentially run the american currency into the ground and i think it's fair to say that you both agree that currency is not the way to go i mean as far as holding the store of value there but peter what do you make of what ben just said there. well i mean 1st of all i agree with him that i don't think it matters what the dollar does ultimately to bitcoin whether the dollar is strengthening or weakening against other currencies i think ultimately bitcoin is going to collapse underneath its own weight i just don't think bitcoin is a viable alternative to gold i don't think it's a store of value i agree that there are some people who mistakenly believe that it is and so they may buy it i think ben is overstating how much institutional money is actually moving in to bitcoin i think it's a tiny amount and i think that to the extent that institutions pension it is valid and are going to be correctly worried about inflation and

a weak dollar they are far more likely to go to gold then to big oil and. so i just would stay out of it i mean you could trade it but i think if you're going to trade you know trade the my. sachs i think you've got a lot more upside potential there if you're a gambler and i think there's less downside risk now because i did fall on wednesday by 4 percent but it defended the home held support zone of 11111200 ish are we going to see an even larger pullback over the next few days what we could see that but i don't think we're going to drop well below that $11000.00 mark but just kind of going back to what peter saying there look i think there is a lot of disagreement over whether or not truly is a store of value and institutional money but there is so much technology being built around block change right now and consequently attaching itself to big crypto currencies i think that you can't ignore the fact that there is an enormous technological value and technological assets being built around the corner right

now and it's been that way for several years so when people do look at the way that they point fell off at the end of 2017 going into 2018 and say oh look it's going to all the way back to $3000.00 again i don't think that that's going to happen based upon the fact that the technological space around is very different today than it was a couple years ago peter go ahead yeah yeah that well that may all turned out to be malinvestment that was a consequence or a byproduct of the bubble and to the extent that that technology has value it doesn't necessarily mean that bitcoin itself has that value i think it's just a speculative additional token peter schiff of euro pacific capital ben swan boom bust cosen the crypto analyst thank you both for your time. thank you sure thing. and facebook says it will halt new political advertisements in the weeks leading up to the u.s. presidential election on the 3rd of november now the social media giants co-founder and c.e.o. mark zuckerberg announced the new policy thursday by

a statement facebook also says they will work to make sure no candidates prematurely claim victory as a liberal alexion results may take days to come in due to the ongoing pandemic and the changes to the voting system the social media site has been instituting contentious policies to fight misinformation since the 2016 election facebook stock is down more than 4 percent on thursday but this is mostly attributed to the overall meltdown in tech for the day that we talked about earlier in the show and that just how do you judge who bought on demand on the brand new portable t.v. app which is available on smartphones a tablet through google play and the apple app store by searching portable t.v. portable t.v. can also be downloaded a newer model samsung smart t.v.'s as well as a roku devices or simply check it out a portable t.v. we'll see you next time.

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back in russia those children's families wait them search for. is you'll be 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 led so. what is true what is faith. in a world corrupt. did you need to descend. to join us in the depths. of the shallows.

media puts that we have already commented on this and said we have nothing to hide . again germany to share information on the alleged poisoning of a. natural. readies for phase 3 trials and its work towards the 1st coronavirus vaccine center of british medical journal concluded the drug v. produced an antibody response in all participants so fall. china may significantly cause its holdings of u.s. deaths amid rising tensions between washington and beijing.