in russia average 5 138000 barrels a day in 2020 even topping the 522000 average from saudi arabia but you would never know it from watching the latest talks so joining in that is this daschle boom bust co-host fence lawn and christie i kristie let's start with you this reporting seems to go against the public posturing of the u.s. which has worked hard to campaign against the north stream to pipeline that would deliver natural gas from russia to europe correct. yeah the findings of the support shows that america's increasing reliance is totally at odds with their public energy diplomacy because for the last 2 years washington has been lobbying european countries to abandon north string to fearing that it would essentially give russia further leverage over u.s. allies in the e.u. the north stream 2 would essentially double the capacity of the existing line in germany under the baltic sea to about 110000000000 cubic meters of gas per year and it would serve about u.s. ally ukraine depriving it of potentially billions of dollars in transit fees and

compete with us his efforts to sell l.n.g. into europe so russian gas counted for about 45 percent of your natural gas imports and $29000.00 and demand is growing so under the trumpet ministration washington was highly concerned that the pipeline would place russian infrastructure inside nato territory and thereby threaten its member states making it very dependent on russian energy going forward congress went as far as to authorize the use of sanctions against the company but now under the new buy in of mr sheen they're taking a little bit more delicate approach the administration wants to impede the project i don't call that a bad deal for europe but at the same time it also wants to strengthen its relationship with germany which has been lobbying for the pipelines construction to continue so there isn't a lot of clarity of what exactly they're going to do but the project is essentially more than 90 percent complete already so trying to get it now is a bit of a moot point but in terms of the optics now that has come to light the u.s. energy independence is completely false it may see us seem entirely hypocritical so

it's rather dumb to tell others not to be dependent on russian energy when the u.s. is constantly importing and have occurred it was the perfect way to describe it especially when we're talking about the fact that there hasn't been a lot of reporting on this or a lot of talk about what the u.s. is actually doing while they're literally telling their allies that they could be facing sanctions as a result now ben some of this dependence on russian oil goes back to u.s. sanctions against venice whale is that right i mean are they just looking to kind of quietly fill about gap. yeah that's a lot of it before i get into all those details i just have to say you know you said hypocrisy is a word for it and the way the u.s. is acting about this nordstrom to pipeline and there are other words too insane crazy foolish and have of this one none as in it's none your business if if if you russia wants to sell its oil to germany and if germany wants to import oil from russia why does the united states have anything to do with that conversation at all

the idea that you have 2 independent sovereign nations that have worked out a deal in order to supply or oil and natural gas from one nation to another and they are independently building a pipeline and the response to that by the united states is we will punish you if you do it that's crazy now part of the reason that the u.s. has sort of had a number is because of another set of sanctions sanctions against venezuela so you know over the last few years a of the trump administration they were very serious sanctions put against the nation of venezuela by the administration has not made any move to change that but part of those same sions is to not allow but as wayland to sell its crude oil to other nations which the united states one of those nations u.s. refineries one of the biggest a purchasers of that as well in crude we don't purchase that anymore so in 2020 in order to make of the shortfall for that russia actually rose for the 3rd largest energy and oil supplier to the united states by taking on that role filling the gap if you will for the fact that there were sections against venezuela so again it goes back to this concept of the insanity of this so you're depriving venezuela of

being able to sell its crude oil you're not buying it yourselves because of sanctions so instead you buy it from russia while threatening sanctions against other countries that want to buy it from russia the whole thing it just reeks of of washington d.c. and everything that happens there right completely backwards hypocritical and it works against the interests not only of its own people but against the interests of people everywhere and it makes no sense and that's an excellent point and i can honestly say we talk a lot of about a lot of. business here but this is the 1st time i've heard none you have business on this show so much as really makes it interesting but you know that is a good point here when you're talking about the fact that the u.s. is now telling venezuela this is what you can and can't do you telling your at this is what you can and cannot do and then at the same time now the u.s. is having to go to russia to get oil to make up for its other diplomatic actions in other areas now kristie when we're talking about global diplomacy here more broadly there is continued talk by russia and china about lessening dependency on the u.s.

by moving away from the dollar what do we know about that so far. well after witnessing all of this messy politics some are answering to and feeling the sting of u.s. sanction it's really not surprising that countries are looking for a way to circumvent the u.s. and one of the us is biggest trump card is the fact that the u.s.d. is the reserve currency in which trade is denominated and that makes other countries dependent on that but russia and china and even india they're starting to move away from the u.s. dollar trade the d. dollar is asian phenomenon has been slowly taking shape over the past couple years as countries want to insulate themselves from the potential of u.s. sanctions coming down so china is russia's largest trading partner and moscow is seeking to expand that trade last year bilateral trade you should $107000000000.00 of which 25 percent were settled in the nation's own currency and that's huge progress since 2013 when it was only 2 to 3 percent so especially as countries start moving towards their own systems of c.b.c.'s central bank back to jail

currency we're likely to see that more and more because why should the world be dictated by a western controlled international payment system that can unanimously decide to walk or kick people out countries don't like the threat of a sword hanging above their head so it's not surprising that they're finding other solutions around that and with watching technology getting more and more mature all the tools are now available to. excellent points there and if there's anything we've learned about the united states is that it doesn't like when countries don't follow its rules when it comes to oil and even more than that it doesn't like when they don't follow through and when it comes to the rose dollar great insight as always been flown kristie i thank you both for your to em. now to an update on a story that is making waves in the oil supply chain that massive 220000 ton tanker that went aground in the suez canal is stuck for a 3rd day and you can even see it from space satellite images show the ship that is

blocking the narrow waterway completely causing nearly $10000000000.00 worth of disruptions for every day that traffic is on the standstill right now it's estimated that more than $150.00 ships are caught in the crosshairs trying to decide whether to make a u. turn or wait it out but officials are warning it could be wreaks before the ship is moving on traffic can start flowing again. treasury secretary janet yellen was in the hot seat this week as she testified before congress in addition to questions over the status of the last stimulus package she was also asked about the biden and ministrations plans to propose another 3 trillion dollars in stimulus and of course how they're going to pay for it in response yellen said the continued low interest rates have changed her own views on federal debt we're isn't 2007 room we had a $35.00 ish in debt to g.d.p. ratio which closer to 100 percent in fact interest interest payments on

that debt. to g.d.p. of not corn up at all and so i think that's a more meaningful metric of the burden of the debt on says saw you do you know in the federal finances and so i do believe we have more fiscal space but it certainly doesn't mean that anything goes. joining me now to go further and up on this topic as michael pinto c.e.o. of pentode portfolio strategies now michael i want to start with a comment that yellen made there she's saying that even though the debt to g.d.p. ratio has skyrocketed and is now close to 100 percent the u.s. should keep borrowing on the belief that they can keep interest rates low is that the solid strategy that she seems to believe it is. well you know it's always a little disconcerting when the person who was formerly in charge of your currency

and is now in charge with protecting treasuries value jobs you say who cares if the debt to g.d.p. ratio went from 35 percent 13 years ago to our 130 percent today we can just keep on borrowing well let's just see what are you she so. yes and when it comes to her worries about debt so the average interest rate paid on our national debt was 6 and a half percent in the year 2001 it came all the way down to 2 percent today well it will come down there by osmosis or some great global if any are how wonderful our u.s. dollar is and how you know sanguine or debt situation as it now warning have percentage points because how will and yellen and bernanke be printed 7 trillion dollars and purchase bonds and that was front run by will street and the

rest of the global economy and go global countries so i don't think interest rates are going to fall from 2 percent to another minus 4 and a half percent now so another you know it's at minus 2 and a half percent i don't think that's what happened again so she should be very worried about our u. of the dollar and the continued faith full faith in credit with us trish yeah absolutely and it is crazy when you think about the fact that if you were i were to look at that much debt compared to what we're actually bringing in our income we would be concerned about it we would really looking for ways to you know make sure that that wasn't happening yet when it comes to the federal government they seem to be just fine when it comes to all of these trillions and spending that they're looking at and speaking of course of more spending the biden ministry. and is now looking beyond covert $1000.00 relief and proposing another 3 trillion dollars in

spending as part of what they call the bill the back better plan focused on infrastructure green energy and education but as part of the funding they are looking at increasing taxes on americans making more than $400000.00 a year is biden likely to find success in those goals or is this just the start of plans that we're going to be talking about for the next few years well so many things total out there 1st of all people who make $400000.00 a year in the neighborhood i live in are not considered rich you're barely making it in mom's county new jersey on 400000 years don't you don't don't cry for me i'm not asking for it i'm just saying that taxing people who actually employ other people taking away their capital isn't a very good weight rolled on but i find it shocking that after borrowing 6 trillion dollars from march of 2020 to march of 2021 we're not talking about another 3 trillion dollars package when you think on the $1.00 trillion dollars over the package isn't even dry i mean you know what about abusing state full faith and

credit in the u.s. dollar and not going to last much longer but as your to your question i don't think that he's going to get to rejoin dollars and he's going to get about 2 trillion dollars passed in this infrastructure package but it's going to be spread out over 10 years so here's the problem there's a massive fiscal cliff coming in the 2nd half of 2021 follow quickly by a monetary cliff in 2022. ok well that's definitely something to be looking at there and it is kind of crazy how he's doing all of this and yet he literally just got in office i mean we still have some time here with this administration but i also want to bring the u.s. dollar into it i mean even though u.s. officials are saying the economy is making progress in its recovery we have still heard from analysts who warn that the decline of the dollar is only just beginning so what are the real world concerns for the dollar and where it's heading right now ok so the truth is there is going to be massive volatility and us not will not

a comma dollar goal or a permanent dollar bear the dollar will lose its purchasing power massively against goods and services in the united states if we continue to borrow and spend the way we're going now alternatively here's the problem alternatively we're eventually going to have to stop bridging we cannot print and i said as it was before 7 a trillion dollars is printed from december of 2007 to internet 7 trillion dollars that is the monetary base of the federal reserve and we cannot continue that pace very much longer so it's going to happen is the monetary cliff coming in 2022 is going to cause this our team trillion dollars of foreign dollar denominated debt to go bust and that's when the close to an explosion of of some of the towards the dollar so i think you're going to have a huge increase in the dollar in 20220 by another plunge like we had last year in

the purchasing power so it's going to be massive volatility in the purchase of now the dollar simply because the current structure of the entire global economy is built on sand it's built on debt artificial interest rates and acid but it's yeah definitely everyone is looking at that house of cards and wondering exactly where it's going and of course when it could be coming down excellent points to consider here michael pentode thank you for your time. thanks for having me on. time now for a quick break but when we come back from one congressional hearing to another the top names that face but google and twitter are testifying today so what do they have to say about misinformation online well the fastnet and as we go to break here are the numbers out the close.

please. please. always be polite never engage with a negative a good or confrontational. don't get into any conversation or start answering questions just ask for an attorney. to survive in the territories. definitely don't want to be going to try to jump ship. you're more likely to walk free if you're rich and guilty or if you're poor and. you've got 2 eyes 2 ears and one now. so you should be seen in here and a whole lot more than you're saying if you don't take that advice easy going to dig yourself all.

americans love. this was a fundamental part of how our political leadership and our country at large understood the bargain you get a hope and then you know rebel right as the things you don't revolt if you have a stake in the system. and think about

the longer deeper history housings men in the united states not just that question of the american dream but the bigger question of who the dream is for. an entire village in alaska. if another country run the wife of an american. we do everything in our power to protect. water they escaping climate change this is the same threat right now alaska seems some of the fuss just coastal erosion in the world. about 30 feet. 35 feet to the ground in just about 3 months while we were measuring. the river is 3. those are. the. 4 i think were part of america the 1st

for. the c.e.o.'s of facebook google and twitter made their return to capitol hill virtually on thursday for a hearing on their roles and allowing misinformation to spread on their platforms from the 2020 alexion to deadly riots at the u.s. capitol and beyond the questions seem to be all about who is to blame for inciting violence so joining me now to discuss is. molly barrows contributor with america's lawyer now molly what is the goal of this congressional hearing. well supposedly

on its face lawmakers really want answers from these big tech c.e.o.'s to face that google and twitter wanting to know what they knew about their role if any in citing violence whether it was the congressional or excuse me the riot the attack that we saw the capitol in january that is the impetus of what led lawmakers to call for this hearing back in february and i think they're really just trying to pin them down on real answers whether or not they'll get them it's been a lot of what we've heard before pointing the finger you knows sharing the blame if you will but really what needs to happen is laws need to change instead of all this hunkering down getting into the weeds of who knew what and when we know it's a problem fixed it you know yeah that's an excellent point and now it's interesting because whenever we talk about facebook and twitter we always seem to hear about section $230.00 which is this law that allows social media platforms to operate like they do with limited liability what do we know about the concerns there. yes so it just all depends on who's talking about that particular law 1st of all rachel

has been updated since 1906 so it certainly needs to be updated even facebook's mark zuckerberg agrees that that needs to be updated and so in essence up until now it's protected these companies from being responsible for what other people post 3rd parties and you know critics say that makes it a lot easier to spread information or misinformation rather but then there are some folks including some republicans who say it's being used to censor conservative content so part of the debate is how much these tech companies are aware of their influence or how much they admit to being aware of it because there's also a lot of discussion about how they profit from discontent you know it keeps people on their platforms which they can sell more advertising so section 230 certainly needs to be updated and hopefully congress these lawmakers are going to ask them real pointed questions that could help improve laws like that and any others to identify and remove this unlawful content. hope that changes are going to be made one of these days of the result now when it comes to regulating content it's not

only about addressing violence but also a big tax influence on children a growing market for social media so what's the latest on facebook's new instagram out for kids. well it's interesting because you know most of time social media is not allowed to target kids under 13 well they're not because of federal law but and kids aren't even allowed to have their own apps on instagram if they're under 13 unless it's managed by a parent or guardian of some sort but this app that they're developing is specifically targeted to kids under 13 and it's being led in facebook by a big wig who is also in charge of you tube kids for a little bit so you know there's some concern that is popular as this is bound to be has it's going to allow kids to connect with their friends follow their interests all the stuff adults do on social media but you know it is going to be they're going to be facing the same thing adults do that they're going to be that targeted advertising is are going to be mental health issues so you know there's people that are really focusing on facebook now for even attempting to go into this

especially on the heels of all the lawsuits that facebook and other big tech companies face over allegations of illegally collecting information you had google in you tube they have nothing to do with this app but they were recently ordered to pay 870000000 to settle allegations that they took information from kids without their parents' consent we know face but faces numerous lawsuits over privacy violations not necessarily about kids in particular but you know it's one of the many ongoing issues with big tech that's why we need real law changes in the law and i we do great insight as always molly barrows thank you so much for your time today thanks rachel. in miami the big question friendly mayor of the city is looking to team up with tesla and you want musk to build an underground tunnel to help solve the city's traffic problems archies john heidi looks into this ambitious plan. ilan musk and miami the billionaire tech mogul tweeted this back on january 21st cars and trucks stuck in traffic generate

mega tons of toxic gases and particularly it but at boring company road tunnels under miami would solve traffic and be an example to the world spoke with that rhonda sanchez florida about tunnels last week if governor and mayor want this done we will do it most company the boring company is already working on public transportation projects in los angeles and las vegas nevada including so-called blue projects under the city's a loop according to the company's website is a quote all electric 0 emissions high speed underground public transportation system in which passengers are transported via compatible autonomous electric vehicles a.t.v.'s at up to 150 miles per hour through main artery tunnels between stations so after musk tweet about miami well miami mayor francis suarez who's wooing high tech companies in bitcoin entrepreneurs to miami had to jump in on the

action do suarez visited vegas to check out must project there a loop system for the las vegas convention center coming back a believer in tweeting as our city continues to grow we must invest in our infrastructure and cities needs moving forward this tunnel or create easy and accessible mobility for every miami and at the law musk. there is no doubt that miami a city that continues to grow can use all the help it can get when dealing with the ongoing traffic problems but miami is also a city born are able to rising sea levels with constant flooding even on a sunny beautiful day so the idea of building miles of underground tunnels there is no easy or inexpensive feat even with the mighty musket ball. it cost almost a $1000000000.00 to build the port of miami. a tunnel that's less than a mile long suarez wants a public transportation loop system connecting several major districts in the city of miami allowing for both a.t.v.'s and pedestrians as new york magazine's curb

wrote recently quote part of the motivation behind suarez's sycophancy may be that he's trying to reinvent miami as a tack utopia by wooing remote working founders newly untethered from corporate campuses musk's arrival would be yet another selling tool to lure startups away from silicon valley so whether or not mayor suarez anyon musk see light at the end of a backed up tunnel or if the plan is just another pipe dream remains a work in progress for boom bust john hardy. that's all for now you can catch him on demand by downloading the portable t.v. app for your apple or android device wealthier next time and as always don't forget a question more.

when we watch movies i think they typically make us worry about the wrong thing. they make us worry about robots churning evil but the real threat of the past artificial intelligence is not but it turns evil but just that it turns very competent but has goals that are not aligned with our goals. back geysers financial survival. housing bubble. oh you mean there's a downside to artificially low mortgage rates don't get carried away that's cause report. i'm going to trust him with. the words. graphs and. bringing reviewers or true longer. i mean you know a starting point in the. not

. i'm not sure about the best. thing is often the beginning with the u.s. it's not in yet you nationally precise. things can boy get him in the manual i still need of beers in the. blog 6 all extremists all of which i don't know much. of that if you should get a bill be you are you able remove usual. in the store and with a measuring stick a can be of night. and let him know that you can be a good. american and

love by at home. this was a fundamental part of how our political leadership and our country at large understood the bargain you get a hope and then you know rebel right that's the things you don't revolt if you have a stake in the system. to be really interesting to dial it back and think about the longer deeper history housings men in the united states not just that question of the american dream but the bigger question of who the dream is and for . the most pathetic and dangerous consequence of the russia gate hoax is how it is

bled into policy at the center of this hoax was to discredit and then finally destroy donald trump now it informs us russian relations the result is dire this bilateral relationship may never recover. always be polite never engage with a negative a good or confrontational. don't get into any conversation or start answering questions just. surviving. definitely. you're more likely to walk free if you're rich. or if you're poor. you got 2 eyes in one now. so you should be seen in here and

a whole lot more than you're saying if you don't take that advice easy going to dig yourself. the. u.s. regulators force astra zeneca to admit its covert jab is less effective than previously claimed and. u.k. teacher is suspended after showing pupils a cartoon of the muslim prophet muhammad during a lesson with growing calls for him to be fired. and joe biden says he expects to run for the white house in 2024 when pressed by reporters at the 1st formal news conference of his presidency. if there will be a republican party to run against. broadcasting live there.