become a battleground in the us in vermont. is right now my focus because it's a very dangerous oh no claire power plant that was attempting to run the reactor beyond its operational limits this just sort of puts a magnifying glass on where's the power in this country where's it going is it moving more towards corporate interests or is it more in the idea of a traditional participatory democracy user powerline with the people this demonstrates that struggle in the very real ways. a struggle.

this is boom bust the one business show you can't afford to miss unfair month and washington coming up with by objections and its role in the capitol hill riot parlor is looking to have a way back on the apple store if you like in another debate over. the week i growing number of companies are cutting ties with president donald trump and those who question the certification of the electoral college we have a lot to get to select the 3rd. attack purge of not only online users but even pop forms like parlor is gaining international attention apple's c.e.o. tim cook said one thing morning that parlor may return to the app store but only if it complies with apple's terms of service so what does that mean and does that actually solve parlors problem joining us whom with co-host and investigative journalist ben swan but what are the terms that parlor would have to agree to in order to rejoin the apple app store. craig. the idea of whether they would have to

do is moderate content control what users post and moderate speech that's the entire point that tim cook is trying to make and the idea here is very simple that parlor is not allowed to be the site that it was set up to be it was set up as a area for free speech parlor by the way says they're not a conservative company i think you could debate that but they're not a conservative company but they do believe in free speech so they have people from all different walks of life in all different ideologies who are able to post there but what's really interesting about this and this is i think where we see a lot of hypocrisy here is there was an analysis done recently on the people who stormed the capitol and the sites that they were on communicating with each other those sites were not parlor in fact of the 1st 13 people arrested over or rioting in the capital none of them had parlor accounts but they were all posting to facebook twitter and to you tube so those companies are not under any kind of

a backlash but parlor it's ok but even if parlor were to take the steps it what it necessarily mean that it would be back on line right. well that's correct because what we really have here is multiple layers of suppression here you have google and apple as app stores saying that no one will be able to download these apps and by the way the day that apple took down parlor it had become the number one downloaded app in the entire country it was ahead of everyone else when it was taken down but even if said ok ok you know we submit we will begin to censor content will control what posters put up or control the content that goes up onto our side at a much higher level because remember it's not just about forcing them to control content it's about what kind of content they must control and that's that's the reality is that apple and google are trying to dictate to parlor what kinds of content can be on their site but even if they agreed to do that it's not apple and google that have actually taken down part of their if you try to go to parlor right

now guess what there are 8 you can't get to it it's been shut down because amazon cut off their server access so amazon would have to agree to restore server access and so parlor would actually have to meet whatever demands amazon puts on them so they could either you have multiple layers of i would liken this to a hostage situation in some ways you have multiple layers of tech companies saying you must follow our rules and do what we say in order to be on the app store and then you have amazon saying well even if you do that you have to do what we say in order to have your server access restored a lot of control over thing here obviously you tube now speaking of other censorship now banning president trump channel for at least 7 days but meanwhile when it comes to a removal of president trump from twitter and facebook germany and france are calling out in the president's defense they're coming to the defense why international community doing that. this is really i think something that's being completely ignored by most media in our country right now it's

a huge story think about this german chancellor angela merkel who is no fan of trump's by any means you and i talk about. about germany france all the time these other foreign leaders do not like president trump but i'm sure if you were to ask them do you agree with what he said they would say no do you agree with him contesting the election they would say no but what they're recognizing is that these tech companies are more powerful now than see that sitting governments around the world angela merkel came out and said it should not be the place of tech companies to determine what speech is allowed within society it must be the role of democratically elected governments to have that kind of say to have private companies corporations deciding what speech can and cannot be allowed in the public square is it is an incredibly dangerous precedent so when you have you know authorities in france and germany coming out and world leaders coming out and saying hey we stand with this president and we stand with his ability to speak i

think it really says a lot about how the rest of the world views not only what is happening now but what will happen in the future even to them well then we've talked about this a lot like you said time and time again about these antitrust laws and a lot of these tech companies facing a lot of issues that not only can the united states but they also faced and had to pay fines across europe. they have they paid massive fines what i would say is that the europeans have been less friendly towards big tech companies than the u.s. has right in a lot of different ways and i think one of the things we expect to see i would expect to see is further action taken by the e.u. by germany by france by italy by the u.k. to actually get more control over the tech companies in those areas here in the u.s. i don't into the paper seen any control over them because they have so much control here but in europe i suspect we're going to see that because they recognize the threat that these big corporations pose to democracy a very different story that we're seeing there ben swan thank you again for your time as always. thank you. a growing number of companies including banks are

cutting ties with us president donald trump and even g.o.p. lawmakers who objected to certifying joe biden as president companies like coca-cola and microsoft they suspended political donations in the wake of last week's violent protest on capitol hill air b.n. b. amazon 18 team and blue cross they all announced they would suspend its donations to lawmakers who opposed the electoral college count all the professional golfers of canceled its plans to hold the 2022 p.g.a. championship at trump's national golf course in new jersey and 2 universities we send an honorary degrees awarded to the president of several wall street institutions have distanced themselves including signal and deutsche bank but what does this mean for the long term for more we're joined by the host of economic update author of the sickness is the system professor richard wolffe professor as always. what kind of world does a trump face when he leaves office on january 20th we're days away from that could

he run or could he face anything from a long term criminal to even social backlash in the years ahead. yes i'm afraid he's going to reap as the bible says what he has sown he has made many many enemies he has chosen a political base that is out of control as you can see last wednesday at the capitol and here is the basic problem for corporations they normally give to both republicans and democrats they want to capture bowl parties so no matter how the election goes they have a friendly sympathizer in our hearts and that's worked real well but mr trump exploded that arrangement because now all the divisions in the country are such that it's quite going to cost these companies to have any association with trump because a majority of americans as the poll showed don't want gold near and with the harshness

in their sharpness they're going to lose customers as a kite develops formal or informal where people start telling each other they will go to that company don't go to that store because that one is close to mr trump and that's dangerous for them and you can see that as they all do we withdraw their obviously publicly distancing themselves from what might happen then much like you said obviously they're destined thing themselves from the trump brand and probably going to over the next several years especially when it comes to these high end trump products like. that required initiation fee of around $100000.00 when the ultra wealthy are they going to push for some reform or some toward a form of free branding. well i think what you're going to see and probably pretty quickly is you're going to see some major splits inside the republican party there

are going to be the whole to feel that their political careers their constituents their folders require them to line up on donald trump in or out of office and others who feel exactly the opposite that their current political careers require a distance and then of the corporations and the wealthy who supported from around the republicans are going to have to make a difficult choice and i expect some will go one way and some will go another at the end result of bad may well be growing explosions inside the republican party it always was a coalition as in the democrats are 2 but these coalitions are fragile and when you have an extreme in the way trump has been then this fragile coalition begins the whole or while much like you said it's causing a divide within and the g.o.p. within the republican party but along the semi line what kind of political fallout

do you foresee for lawmakers who have actually opposed at the electoral vote is this going to be permanent or are they are is it just kind of before it clears the dust. no i think it's out of the out here and i think the answer to your very good question is it depends on what happens in the american economy. if you continue as we have the now for a long time to make an economy that's more or only equal that shifts the burden of the over the declining chapel which is what we know we have here it should be if you keep shifting the burden on to the mess of the working people the employee then you're going to create more and more suffering of people who are them a little slow causing their shape they're going to be all into theories good spirits these are all groups and you're going to have drawn more oil and if that

happens yes i think you're going to see some politicians become more like truong while others in reaction to the 1st rule become less social and that divides the fracture our normal politics we may not state with our current monopoly of 2 political parties we may become much more like other countries that have multiple political parties because the coalitions that we're all together with all that mean more president trump party could become one of its own i can imagine that becoming the case and in the next few years and people on k. street lobbyists here in washington d.c. are also talking about how they want to distance themselves and obviously these impeachment proceedings are one way to do it where a lot of republicans are coming out to try to save face it is what they're saying sort of to to really distance themselves from trump and his beliefs and the people that believe in him and follow him but when it comes to these optics of these riots

that we're seeing the violence that we saw on capitol hill is this going to affect how the international investing community views the strength of u.s. currency we've already seen them criticize the united states and how they responded if they're going to affect treasuries and i quote he is i mean that the markets have appeared relatively unscathed but what's happening now what's happening here. you know i think you know what dan we're in a long term process there's no question in my mind that the whole world is looking at the united states and seeing truly many signs of decline and decay whether it's the extraordinary trail years around being prepared for or containing the cold it let's remember we're 4 percent of the population of the world and we have 20 percent of the deaths from cold it there is no old g.m. sitting around this and you see it in that depression that we have the $25000000.00 americans without work and now you see the fracturing of our political system riots

in our capital there is a sense that whatever the united states wants as the kind of premier capitalist country whole 'd even though we're all in this column holding it together center of the free world all of those phrases they don't apply anymore we are not the rising power economically in the world that's trying to run out like it right it's the reality and i think that is going to percolate into our currency values into our investment banker and we are in for a very hard time because of this long term process it's not going to get better anytime soon unfortunately we're seeing the streets of d.c. already prepare for the inauguration i mean never have we seen a 15000 national guards in our streets with closures and robots everything we're saying it's things that we would see in other countries not in our own backyard so

and again things will probably get worse before they get better richard wolf as always thank you so much for your time your expertise thank you. u.s. drug maker johnson and johnson is expected to release its kovan $1000.00 vaccine results at least later this month and while many are cautiously optimistic well it'll be another vaccine added to the list of effect of shots but the new york times reported that it's facing unexpected manufacturing delays sources familiar with the matter said johnson and johnson is a falling behind on production in august it pledged to have 12000000 doses ready by the end of february but the company appears to be 2 months behind schedule originally it was supposed to have delivered 60000000 doses by april while at the same time a top lawmaker european union announced johnson and johnson will likely apply for e.u. approval in february well unlike other vaccines we know johnson and johnson requires

only one dose and can be stored in a refrigerator for months this obviously simplifies logistics for health department . time now for a quick break but when we come back we take a look at the markets and the renewed attention to gold and inflation as the bite administration prepared to take office as we go to break here the numbers that the . banks geysers financial survival guide. housing. only mean there's a downside to artificially low mortgage rates don't get carried away that's cause report. i can show you my face but i'm going to teach you my story in 9093 this was sentenced to death. they could

charge carry it with capital murder even though he didn't have the gun didn't pull the trigger didn't intend to kill anybody mention the behavior vance. with the scent of a 23. i felt that i would be very. confined within the green. zone excusing. them to leave this room. gold continued with gains into wednesday on hopes that more stimulus from a biden ministration could trigger higher inflation willian is on the rise as a safe haven but other metals are following suit u.b.s. global wealth management strategist expects silver and platinum to outperform gold in 2021 for more we're joined by c.e.o.

of. financial group david mccallum in the and move us co-host christine thank you for joining us today david let's start with you 2020 has been one of the best years that we saw. hitting record highs for gold investors were piling into that safe haven asset do we expect to see a repeat performance in 2021 or is u.b.s. right and are we going to see a rotation into some industrial metals from precious metals. thank you sarah yes i think we are going to see a repeat with gold but to a lesser degree you do have fiscal stimulus coming you do have the twin deficits work and they're continuing to expand and i think with fiscal stimulus comes something that is direct into the economy and has potentially significant economic or should say inflation implications inflation expectations are even more important than inflation itself as it drives allocations within portfolios see add to that

opportunity cost which is virtually nothing you add to that uncertainty which remains and i think you do have the continued play for gold but this does raise an interesting opportunity for 2021 which is to u.b.s. this point that the white metals are likely to outperform you've got the inflation sematic which i mentioned earlier but you also have an economic recovery story coming out of coal which should be very supportive to both of those precious metals silver and platinum and definitely what we're seeing here at least i'm catching up at one point or another christiane talk about russia for the 1st time and on record is holding more gold than u.s. dollars in reserves what does this mean for the u.s. dollar asset. well for russia this is spin a multiyear effort to reduce exposure to the u.s. dollar so the shift is part of a broader strategy outlined by russia in order to deem dollar rise the russian economy and lower its vulnerability to the u.s.

sanctions and that the escalating tensions with washington so all made up about 23 percent of the central bank stock at the end of june 2020 while the share of the dollar assets dropped to 22 percent down from more than 40 percent in 2008 team so goal is now the 2nd largest component of the central banks which are after the neural which still makes up about a 3rd of total assets and coming out or this china the chinese are empty at 12 percent so now it makes sense if we think back to the gold rally that we saw early on that last year when gold hit all time highs the central bank bought about $4300000000.00 worth of gold making it the world's largest ire so a lot of analysts have cited that this is a typical behavior for a country of russia's size an economy whose would typically prefer a mix of hard currency is rather than metals in their reserve portfolio but this actually makes a lot of sense for russia as moscow has plans to decrease the effect of the u.s. dollar on its economy and they're making the to decrease their share in the u.s. debt as well so russia used to be one of a big u.s.

debt holder they increased their shares from a high of $96900000000.22 about $12000000000.29 that's a stunning any 5 percent decrease in u.s. debt holding which certainly indicates the changing trends and russia strategy towards the u.s. so why hoarding gold it hopes to stabilize its own national currency and strengthen its economy and hedge against future as well so we've spoken about this previously this tragedy dollars this i think you need a lot of momentum as other countries now are following russia's lead so countries worldwide are now using the u.s. dollar for mutual trade 20 percent lesser than before prefer and just settle trade in their own national currencies instead much like we talked about in professor richard. wolf mentioned earlier in the show people are distancing themselves as well from the u.s. dollar and the u.s. economy that it's no longer the powerful economy the used to be given the recent circumstances david talking about markets here they remain slow again this

wednesday with credit spreads that they're tied this level since before the pandemic what should we expect going in turning. i think when you look at credit spreads as well as credit default swaps what you see is high confidence in the marketplace and that high confidence you might associate with complacency we're at levels we've never seen before in terms of margin debt $722000000000.00 very typical to see the spikes and peaks put in with margin debt as you're putting in a peak for the broader market so to me the real critical aspect of credit spreads in credit default swaps is that issue of complacency everyone believes that this is a safe place to be putting money to work. spreads cheap insurance a moderating vix these are all things that to me suggest complacency and confidence is that feeling that you get before you fully understand the situation and i think that's what we'll see in the market earnings i think are likely to reflect the

covert cycle with very positive forward guidance for the remainder of 2021 but to be frank a perfect world has already been priced in and so i think it's fair to say we live in a world that is far from perfect and yet that's what we see reflected in the equity markets today so it's worth recalling that it was 10 sessions that when it took us from relative stability peace calm very tight credit spreads last march. as well as credit default swaps the pricing on that 1010 sessions later we were in chaos with the s. and p. having lost a 3rd of its value i think we could be putting in a major top in the stock market and the fact that we're watching price to sales at levels we've never seen before margin debt again at levels we've never seen before these are signs of the times so it is a bit of a broken market the financial system has had so much free flow of capital coming into it both from monetary policy and now we've got fiscal policy measures as well

that there is a tremendous amount of confidence with the amount of liquidity floating around but i think there are some structural issues which which could. it's a considerable downside and $21.00 and a lot of stimulus still investors are really weighing down on that what's to come under president biden chris christie last question we have a less than a minute left the crypto market continue to see levels of level highs that we we continue to see what's causing that is becoming going to continue to rally so i think i'm a climber i will surely continue especially as increasingly being viewed as an alternative state vs a good gold and a hedge against a new us saw that slowly losing influence so the volatility has been elevated this week but it's nowhere near the levels we've seen before so in this case the subsequent dip was due to nearly $1000000000.00 worth of futures contract that were liquidated january 13th after the big shakeout that we're seeing that continues move of equations right now as traders overeager to make a killing utilize extreme leverage in an attempt to fish the bottom and when trying

to use the higher amounts of leverage the liquidation threshold gets tighter so this really indicate that traders have been over leveraging their positions in order to short make went after recovery in the 3530500 so as it rallied back 235000 level many short contracts for liquidated so the market right now is less leveraged compared with the past 2 weeks with the futures funding right moving back to normal between one to 5 bit and while these extreme volatile situations are not favorable it certainly is healthy in order to avoid a shakeout and reduce over exposure because if the market remains over leveraged or continue to rally above and beyond 40000 we'd risk having a much larger overcorrection draw down on the 25. david met mcelheny christiane thank you so much for joining me today and breaking this down for us thank you sir thank you. that's it for the time catch boom bust on the man on the portable t.v. app which is available on smartphones and tablets google play on the apple app

store by searching portable t.v. or simply check it out at portable t.v. see you next time. i got this 8 millimeter film purely by accident. time period 963 to 65 place damascus. i don't don't know why young. i've watched it many times a man posing the monuments and all poster of the hollywood premiere of town without pity and a fight in

a minute so with bruises. i had my doubts if i should waste my time on this but i came back to that film over and over again tracing a sequence of events happening in syria at that time anderson those who worked there alone would on the radio. in the clinic you know what you see neal curiosity is like a petrol motion machine it lives on without a lunch break and then suddenly i saw him stop let's take another look now at low speed this is key like cohen a super spy who some consider a national hero and others an evil villain an israeli double o. 7. i need because it's bad for them and they at the. at the one. still. it.

so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race is often this very dramatic development only personally i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk. the war in syria has lasted longer than world war 2. has been suffering the most there's almost no damage in long conflict regular syrian people. need is more than when your wife of 20 years you and. i could see everything with my own eyes and hear into stories of its residents one

group in particular russian wives of syrian man the apostles of. the look up to his nationalist movements. let's come together impeach the president not just about impeachment anymore it's about canceling it he is a clear and present danger to the u.s. house of representatives votes then to impeach president trump of the. i will money on the floor wait to see the back of it others board it is dangerous to try and simply quote these views coming up. it's not just because the latest apparently by the president from succumbing time his fellow online messaging joined twitter as the african state of uganda for blocking the social media look at claims of free speech of the big. pushback against

a top british screenwriter.