in the middle east this is probably just one of the many voices on television right now that have ties to those that did it. for me. this is boom bust one business show you can't afford to miss i'm rachel love and in washington coming out of court rules the i.r.s. has the power to force a currency exchange to turn over your information when taxes are due so who will be impacted and what does that mean for your account plus here in union could be the next one to lose weight in the actual property rights groups not seen as india's covert crisis continues then. reserve officials say they are not worried

about inflation and they believe rising prices will only last as long as the twilight paper shortage of $121.00 of us us at all now we have a lot to get to so let's get started. it's a ruling that no person who uses crypto currency wants to hear a federal court has given the i or us permission to seek the identities of taxpayers who buy and sell crypto their ruling allows the i.r.s. to serve a john doe summons on the crypto exchange crack in seeking the identities of its users a spokesperson for the justice department described it by saying those who transact with crypto currency must meet their tax obligations like any other taxpayer so joining me now to discuss the host and crypto analyst ben swan and christiane i ben let's start with you so what do we know about this john doe summons and who is the i.r.s. going after here. well they're going after kind of the big fish for so what the

john doe summons is asking for is that anyone who has transacted on crack in the crypto exchange crack and. at least $20000.00 between the years of 20162020 so between 20162020 if you did $20000.00 or more in transactions they want to know who you are essentially what they're saying to crack it is turn over all of your information on these users show was their financial history show us what they've been doing because they owe us money and we're coming to get that money it's something that you got to say it again rachael i've been warning about this for a long time that it's on its way that the i.r.s. will crack down and unfortunately i think there's a lot of crypto users who if crack and goes along with this and i believe that they will that ultimately that those users are going to be hurt tremendously by this because of the fact that the u.s. government can't figure out what crypto is how to classify it and so they just kind of jerk everyone around with these regulations i think it's

a very bad thing for these users but if i were you if you're on crack and you better start getting your tax stuff in order and it may start 6 on crack and now but it's going to start going around to other exchanges as the government figures out exactly what they're able to do and maybe they'll figure out what those are and it's also going to go to smaller crypto users so those who are 20000 above if you're sitting there and say oh i only have 5000 or 10000 i'm fine you're not fine though come get you eventually they're just starting with the bigger numbers 1st yeah definitely a good morning for everyone to start getting aware of it now kristie i want to look at another update we're hearing that according to crypto custody n y d g for the 1st time customers of some u.s. banks will soon be able to buy hold and sell that coin through their existing accounts so what does that mean for the space as a whole. for this pretty big news because for the 1st time customers of these u.s. banks can actually buy and sell bank went through their existing accounts vary so much to how they can sell and. through their current account so banks are asking

for a point now because they see that their customers are sending $1.02 point days and other crypto exchanges such as hey pal and pay power and mole all of the apps that now allow you to purchase photos and they're losing out on major businesses and also at the same time losing deposits which is basically the lifeblood of banking so this is yet again another step towards mainstream adoption and that's great for the masses banks have previously steered clear of decline to announcing it calling it a giant almost ponzi scheme advised kinds against it saying it's too volatile and too risky for all these retailers lives so now they're definitely eating their words and backtracking so i guess yeah it's another way. but not really because once again anyone who uses this service is missing out on the entire point of that quite which is to thank yourself and you cut out the engineering because at the end of the day the bank is the one controlling your assets limiting your withdrawals monitoring what's going on out and playing freeze on your account for some fictitious reason they concocted because their reserves are getting low so while

it's great that this will definitely bring on board more mainstream users it's sad because once again you have big institutions now trying to take control of something which was supposed to give back on edge of freedom to the people by making it easy for people they are in a way said dating the masses into accepting that this is the way it should be not the way it's ought to be so people really need to educate themselves if it's not your keys it's not your wallet yeah that's an excellent point it is interesting to see how the messaging has changed from oh crypto currencies are too volatile to all of a sudden they start realizing that they can make money off of them now then on that area do you think that this is going to be one of those cases where more people start taking that mean stream adoption they take it from their banks and they don't necessarily look at getting their own wallets and getting their own keys because they think that they have now is that kind of where this is headed in some cases oh yeah absolutely it is this is mainstream adoption is going to. com when people say

oh the proper way to obtain any kind of crypto currency is through a bank that makes sense to most people right what krissy saying is absolutely accurate which is that the whole point of that coin the whole point of crypto currency was to bypass the banking system so you wouldn't have to work with it the whole point of creating a peer to peer exchange system is that you don't go through these 3rd parties that take advantage of you and they and they misappropriate money and they utilize it in ways that are alternately detrimental to your life that's the idea behind because it's the promise of it quite so when you do have banks that come in and say you know you can buy it from us and we'll hold it for you it does something that's even more dangerous this goes back to the i.r.s. issue right the reason the i.r.s. is having to serve a john doe summons on cracking is because they're saying hey we want to monitor exactly who is on your change and how much they have been what are they doing with it when are they buying one of these cell and who are they trading with right they want to know all these things well the fact is if you don't utilize an exchange and you simply hold your tokens or coins in

a cold storage wallet that's off of an exchange the iris has no access to it they don't even know how much you have or where it is that's that's actually what's supposed to be happening with the crypto world and it doesn't happen we are now moving much more into the world of the bank hold it for you will in that case why bother having crypto at all that's the point that's an excellent point as well ok now we've started out by talking about bitcoin i know we've talked about a theorem in the past and now and to the point there has been a huge amount of growth for other r. koreans like coined this year and now has heard a hunt for the next crypto winner as they're calling it so is this good or bad for the market. yeah you know there is that there is an article that says they're searching for the next script a winner i kept thinking it said crypto winter the 1st couple of times that i was looking at this article because that's the terminology usually here not the winner but the crypto when i listen i don't i hate the whole those calling thing and i'll tell you why it's not nothing against those if you hold those if you're buying it

great you are entitled to do that what i don't like is the idea that you're going to go and purchase a coin and then everyone's going to buy it together and they're going to pump it up and it's going to go to the moon because it doesn't happen yes it goes to the moon and then at a certain point the savviest people sell it's called pump and dump so somebody has got to dump and somebody has got to be left holding the bag at the end and people get hurt with that now my good libertarian self says hey if you get hurt by that that's on you the problem is that it hurts the overall industry when people see that because then they think the whole thing is a scam and it's not it's but there are people who like to do this they pump up some some coin i can't use the term on air that's usually used for it chris you know that i'm talking about certain kinds 1 of koans they get pumped up and unfortunately as they get pumped up what happens is people go on to talk and yes believe it or not there are people who take their investment advice on tech talk and they think oh i'm going to buy into this too and then they run up thinking that

they're getting scammed the problem is they were trying to be the scammer and they are the ones who get caught holding the bag i don't like what you can see what's your response to that i know we've seen a lot of touch billionaires talking about crying talking about some of these other coins are there as ben said dangers involved in that and people getting involved. absolutely and this is just speculation windows on the ass that this is absolutely no different than this entire game stop rally that we've seen it's when you have a massive crowd of people and it's like i said that everybody is free to invest their money however they want to but at the end of the day someone is going to be left holding the big bag of food and at the end of the day like it does get passed around like ah pedo so there is there are going to be a lot of people who get hurt and there's got to be a lot of people who are going to say this entire industry is a scam this entire thing is a ponzi game when really you know it's actually real technologies being built out and people actually need to look at the value of the underlying assets on the chain things like the things i think maybe some even like worth

a lot and things that are actually being jailed out to advance the industry to have some sort of utility not just some sort of thing that is being pumped up by certain billionaire is almost the mark cuban just for the fun of it just for the heck of it because 2000000000 ask me up something and throwing a couple tens of thousands into something into mean quite that's just on for that's just the every day weekend the same way that we would just a couple bucks on a lottery ticket that's exactly what how they are trying to fight for the rest of us are taking those coins seriously we really shouldn't it surely has been fascinating to see how the crypto world of grown especially over the last year but i really appreciate you both taking the time to bring things back down to reality for all those who may be getting excited about what some of the billionaires are saying about ben saunters the i think you both for your time. european union signal but it could be the next to wave and no actual property rights for its covert 19 vaccines after the u.s.

said it plans to do so the president of the european commission said the block is ready to discuss any proposals but address the crisis in an effective and pragmatic manner following wednesday's announcement here in the us shares of pfizer and johnson and johnson plunged in response to the news i noticed ration confirmed it would go against the wishes of the country's top drug makers here's archies trying a child that is with the latest. president biden along with other world leaders are supporting the world trade proposal to waive intellectual property protections for couvade 19 vaccines citing an urgent need to stem the pandemic we take intellectual property incredibly seriously and we also though are in the midst of a historic global pandemic which requires a range of creative solutions and we're looking at it through that prism the waiver would clear a hurdle for vaccine strapped countries to manufacture their own vaccines even

though the patents are privately held u.s. trade representative catherine tai said in a statement this is a global health crisis and the extraordinary circumstances of the code in 1000 pandemic call for extraordinary measures the administration believes strongly in intellectual property protections but in service of ending this pandemic supports the waiver of those protections for $1000.00 vaccines at least $100.00 nations including hard hit india and south africa pushed for the waiver india with just about 2 percent of its population vaccinated the country is now the epicenter of the crisis and is struggling to keep up with the mounting death toll because of the lack of those who do not open with their friends robert can you but are you still the pharmaceutical companies oppose the proposal saying the waiver won't provide the short term results proponents. think it will partly because of the challenge of complicating the production and manufacturing a vaccine you know genuine. when you go on the web.

will lead to the production and also mark among the best we need to keep the vaccines going for the future is going to be very. longstanding argument of lifting patents and other intellectual property has reignited as the pandemic continues to grab it to many poor and middle income countries wealthy countries currently account for more than half of the nearly 9000000000 doses that have been pre-purchased to date meantime while a journal says that it plans to have a 3rd booster ringback shot for its trudeau's vaccine available by the fall for let me data of the shot shows promising immune response against variants 1st identified in brazil and south africa reporting in new york trinity child as r.t. . confirmed it is creating a platform for its customers in china that gives them access to the data collected by their electric vehicles the move comes as the company faces increased scrutiny from beijing over the security and privacy of the information it collects from

drivers and of course who has access to that data now in response to what has evolved to work with chinese regulators with the hope that it can mend ties and maintain its status in the largest car market in the world. the new data tracking platform should be ready for use this year. time now for a quick break but when we come back better all reserve officials are comparing the rising prices to the toilet paper shortage of 120 was the way to say they aren't worried about inflation and it won't last long but is that really the case will the staff next and as we go to break here the numbers out the close.

it's called the feeling of freedom. everyone in the world should experience flamingo and you get it on the old rule. the old according to just. welcome our moral come along from there are. you know it doesn't really matter where you've been what matters is where you're going right will future generations look back at the establishment media as the lead in the water pipes that drove the romans mad do you find yourself watching t.v. to turn your brain off to relax i want you to watch t.v. to turn your brain on i'm rick sanchez. it's time. to do news

again. my pathan tonio host of america's lawyer when white collar criminals policy guy high profits and smear the pain of those they rip off and ruined so that's where i come in questioning for. glisten stumbling online algorithms dictate what you get to want to go to portable doctor t.v. slash download to get killer television it's completely free i'm talking award winning comedy awesome sports coverage inside so fresh still taste like rasberry on a spring day takes so hot they'll burn your face off down in the videos more added by the hour did i mention 3 it's it's yes 3 go go get it portable t.v. .

president biden took a special trip to louisiana on thursday and hopes of gaining support from republicans for his proposed $2.00 trillion dollars spending bill in the name of infrastructure watch every secretary janet yellen admitted there is concern that the government could start to overheat from all of the spending the president of the boston federal reserve says he's not worried he claimed crease and prices is likely to be temporary pointing to the fact that toilet paper and clorox were in short supply at the start of the pandemic but manufacturers eventually increased supply and caught up with the demand so joining me now to go further and. tabio moran's the c.e.o. of miss i'll see and michael pinto c.e.o.

of pentode portfolio strategies michael let's start with you here we're watching the federal reserve try to play down the risk of inflation even saying it will only be as short lived as the toilet paper shortage of 2020 is it too soon to dismiss those concerns when we're already seeing rising prices. well i think old paper is made of paper and paper is me from treaty 70 look at the craze of umber lately but it really isn't a surprise rachael you know if the government trends 6 trillion dollars and handed out to people through helicopters and then pays those same people not to go to work with them hands on women they become unproductive so it's too much money chasing too few goods and guess what yet inflation and you get intractable inflation especially in asset prices but listen and this is coming from an inflation east and a gold bug i think we're set to have this inflation and deflation in 2022

so not too long from now so whenever the fed turns off the monetary firehose tapers $120000000000.00 per month q.e. program we are going to have deflation and it's going to be much worse than the original temper tantrum in 2013 when stops stock prices drop 67 percent in 3 weeks because we're going from $120000000000.00 per month to 0 and then 1st taper was $85000000000.00 a month to 0 but here's the key inflation is most keenly manifest in stock prices the total market cap of g.d.p. is now 205 percent it was only a 100 in 3 percent in the last paper tension so watch out we have. intractable inflation now well this inflation deflation recession coming next year

and the monetary firehose that is an interesting way to put it but that's also a really good point and doesn't seem like the government is really looking towards that now staying on the topic of these supply shortages octavio i want to talk to you about we've seen from some i connector chips to lumber and all of these shortages going on and as a result global manufacturing output prices are now at their highest level since 2009 so how big of an impact will those rising prices of materials have on the businesses that are also now saying they can't find workers. well i guess you can you know you mentioned lumber and semiconductors and and other businesses you can if you want to sort of construct a story in there or to around those individual industries and say this is what's going on in lumber now michael mentioned the price of lumber has gone up through the roof 20 percent or more than 20 percent this week it's kind of fantastic new see the kind of price increase across other commodities and so you could say you

could concoct a story and say lumber price of gone up because saw mills in the us weren't expecting housing starts to be as strong as they have been throughout this downturn and also if you're back a year year and a half the trumpet administration put a tariff on imports from canada and so there's a shorter supply as a result that so you can do that and you can go through each one of these commodities and say prices are up there for these specific reasons or peculiar reasons for that commodity but we see this across all commodities so all commodities are very very sharply over the course of the past year with the one exception being orange juice i have no idea what's going on that market maybe my personal opinion on issues i i don't but everything's up or prices are up and this is exactly what michael sawka about inflation is here we're seeing in producer prices were seen commodity prices and we certainly see it in bond prices and prices it's all over the place so i think the inflation cat is basically out of the bag and the specific way the u.s.

government and the fed have been distributing this money is different from in previous runups where they basically selling out lots of stimulus checks to people putting in their pocket so in the past sort of stayed in in in the ass it pools and it went into bonds and equities and basically stayed there now people are getting this money right in their hands and they're going out and buying stuff and pushing up those prices with it so that's that's where we are now that and these these higher producer prices about these prices are just that the inflation that the fed has ignited it and i know they are i'm here and it is it i guess is that he's a genius because we are certain navigating the banks as this is held up their money directly to consumers not just for all syrians for that's where you're getting the rights of the monetary aggregates and water. jar. i mean as much as i want to get your comment on our show you live in florida michael i want to ask you about the value. of your explanation alone she was like well. let's take the oranges are.

probably the pretty they're you know it's probably you know reconstituted orange juice that's going to know what is the one commodity this european taxes are what 75 percent year over year it's everything else is going so especially but i'm precious when we're going to start. well i will be sure to bring you both back here for the orange juice moving forward but before we get to that michael i do want to ask you about the by an administration is campaigning right now for this $2.00 trillion dollars spending bill but even yellen admitted there is concern about the economy overheating in response to all of the government spending now given the immediate reaction to comments how much is the market relying on the federal reserve keeping interest rates low and saying everything is under control right now . well i have to say that and so you know it's pressures of interest rates you know it's total debt the united states is now 400 percent of g.d.p. total national government or local state government individual that business that

everything so 400 percent of g.d.p. is a record so the bond bubble holds the key to everything you know the u.s. treasury sold or the $1000000000.00 in t. bills last week at an interest rate of 0 this is the most epic bond bubble in the history of all bubbles so it's all contingent on free money forever and it's not going to last very long and that's that's the that's the problem you know that's terrible we've got the federal government and the federal reserve in particular is telling you don't worry about inflation because if it gets out of control which it already is we have the tools the tools to stop it one of the tools raising interest rates and when you raise interest rates you pop all the bubbles concurrently so watch up along an f. 3 money forever eventually someone has to pay for it now octavio speaking of who is going to be paying for things goodbye ministration has been looking at raising the corporate tax in order to pay for the spending plan and yellen has repeatedly

called for a global minimum tax to keep companies from flaying the u.s. now the i.m.f. is saying a global tax is urgently needed or else it could lead to a new trade war how big of a concern is that right now. well i guess the biden administration seems very keen to enter into competition with france for the highest corporate tax rate in the world and seems well norway in that direction now of course you'd want other countries to raise their taxes as well to prevent your corporations from running away so it makes perfect sense i wouldn't be too worried because there's still a lot of countries who are going to basically be saying we're going to try to track some of these corporations with lower tax rates i don't see ireland with this current 12.5 percent corporate tax rate saying we're going to sign up for a 21 percent tax rate i don't see switzerland doing that i'm going to see any of these low tax jurisdictions doing that but even if they were to i think what we'll find is they start to sort of cheat at the corners so they might have

a headline tax rate for corporations of $21.00 or 25 percent or what have you but then they have loopholes and and write offs and charge offs and this and that and the other and effectively they're bring it back down because they will desperately need corporations to come in to pay for the huge deficits they've racked up so i wouldn't be too worried it might be a short term thing and then the subset will 25 percent now but we still like to attract those companies and how do we do that when we give them certain exemptions and tax credits and all sorts of other things so i think that's how things will unfold so i wouldn't be losing sleep over this just now and i'll certainly be interesting to see exactly where it goes and what the buy in and ministration gets accomplished great insight as always michael pinto octavio marandi thank you both so much for your time. that's all for now you can catch her mass on demand by downloading the portable t.v. abear apple or android device was the very next and as always don't forget to question more.

there's so much going on in the world don't you think the last time you had a real bird's eye view. of the news feed more than just hours of bickering and give me 30 minutes i'll take you off the low. in an ocean of stories even the news worth knowing can overwhelm you. you can even use your way i know you want it all so let me bring you the bad. it's easy just press play. oh

yeah oh. please please. take a bite. guys i made a professional is power point 3 artsy america fits into the greater media landscape our tears not all laughter all right we are a solid alternative to the bullshit liberal or conservative and as you can as margret we don't skew the facts either the talking head left these talking head righties oh there you go above it all to look at world r.t. america is in the spotlight down every really hard no idea how to classify as when it actually took me way more time and i care to admit.

hello and welcome to a jaxa denied v.i.p. camp today on the show what if there were no borders what if we weren't citizens of this country or that country but instead just citizens of the world would it and most wars are nations one of the key reasons we don't have peace we never seem to have peace well an amazing human being named gary davis thought so and he made it his life's mission to make us all citizens of the world there's a new documentary out about the man and the movement titled the world is my country

and the director arthur connecticut is here to speak with me about it plus they only care of danny will bring us the weekly offensive and correspondent anders leave breaks down the law is about the new labor bill called the pro act but 1st here now is my interview with the director of the world is my country our 3rd connection thanks for taking the time to be here and thoroughly appreciate it. so i just watched your new documentary the world is my country the story of gary davis who passed away in 2013 but obviously it's a wonderful and inspirational story shame to say i didn't know much about him before the movie but before i watched it but he lived an extraordinary life in which he tried to unite the world by eliminating nation states and thereby eliminating war and after he saw the horrors of world war 2 he declared he was simply a citizen over the world so how did you.