this is boom bustling business show you can't afford to miss i'm a job levin's in washington coming out the private messaging out signal says it was blocked from posting an ad that told the truth about how facebook exploit this is users will discuss what the bank of england says crypto users should be prepared to lose all of their money as a federal reserve survey called digital currency a threat to the existing financial system then i dispute over fishing rights weaves

to a military standoff between the u.k. and france so what could it mean for the future conflict in the post directed era we have a lot to get to so let's get started. the bank of england issued a sharp warning to cryptocurrency users in which governor andrew bailey claimed they should be prepared to lose all of their money his comments were made during a press conference on thursday where he said the only value crypto currencies have is the value people put on them but it is impossible for them to have intrinsic value he then added quote i'm going to say this very bluntly buy them only if you're prepared to lose all of your money so joining me now to discuss the latest. stan crypto analyst christiane i all right chris do let's start with this claim that crypto currencies have no intrinsic value what is your response to that. well then i would say what is the intrinsic value of the u.s. dollar or the british pound for that matter since we're talking about the bank of

england an intrinsic value of a commodity is the value that the product possesses and of itself it doesn't require any additional horse to provide it with value so we're talking about like sweetness is an intrinsic value of sugar but where is the intrinsic value of the dollar because certain currencies were backed by precious metals like gold and silver for now to 40 years ago today most global currency aren't backed by anything the only thing backing it is derived from the relationship between supply and demand and the stability of the issuing government so that is just the pot calling the kettle black because none of these currencies now have any sort of intrinsic value the value of any currency comes from the trust people have over the network as a means of exchange so in fact big what actually does happen in chicago talking about that the value which is derived from the control it gives the users to actually own the ask that question is non-conscious gettable and provide users with an unprecedented level of financial freedom compared to traditional assets so even

safe haven assets like gold for and they've seen many instances where it was actually seized by government in the past and big when a block came for that matter censorship resistant so the c.e.o. that actually set about so topple is a cripple cut that he and he can go up he grew up in argentina and his family actually lost their savings 3 times over and the last 2 to unfair confiscation of at that so keeping this kind of framework and behind bitcoin is that it's not just and then next our global disaster it's more so the hedge to fiachra change because unlike the u.s. dollar or the pound that is no longer has any sort of intrinsic value it went and should that value is actually growing and likely to strengthen over time as a non comfortable characteristic these. nature and also fungibility adds to its asset value over time yeah and it's ironic because the u.k.

is one of those governments is looking at creating their own digital currency so whenever it comes to this so-called brick coin you know that they're going to be ready to talk about how safe and trustworthy it is through these moments and other ones like ok so gov bailey also claim that you should only buy crypto if you are prepared to lose all your money highlighting risk to the financial system in the speculative nature of cryptocurrency these are these dangers and risk inherent encrypt those. some risks and but the currencies but there are risks and higher than any sort of investment the fact that he's saying that people should be prepared to lose all their money that's just pure fear mongering so it's just more nonsense from someone who is attempting to denounce that the current youth because the take power away from central government i mean let's not forget the 2000 some financial crisis people actually lost that rating their homes their life savings and best thing and these near worthless the prime mortgages that were supposedly back and supposedly safe so let's look at even

a more recent example venice while in turkey they all suffer currency crisis and recent years when it will suffered hyperinflation and turkey is suffering from inflation a currency drop and a rapidly depleting foreign exchange reserves and these are all real risks in so-called real fiala currencies that bailey's choosing to ignore and back in those countries the only people who actually didn't lose everything are those who turn to crap and exchange their worthless the up money for bitcoin so yes there are parts of the crypto universe that is speculative in nature things like those coin that we talk about things that don't really have an application or utility that they hyped up as a need when the market what we witness and gang up on and the earlier this year but that's just a very small part of it things like the coin and in theory and they have real value meal technology and real use cases being developed so it's not just speculative and of course those are risks just as there are risks inherent in any sort of investment but bally's common are just pure fear mongering and at this point trying

to do now that the refusing to adapt and accept changes that are coming to the financial and even china who actually did help like hold a new 5 years ago they now even change china went so far as to ban big wine back in 2017 during these risks to the financial system and the speculative frenzy that it would generate but even dave come around to accepted it and went as far as to officially call it an alternative investment rather than just a pure speculation it's interesting to see how these officials think that they're going with the status quo but it could come back to bite them long term especially if current differences become more and more popular actually i'm going to consider here kristie i thank you for your time. markets were mostly up this week despite rising prices as progress towards recovery continues let's start in russia where the most axes in the green hitting record

highs on friday as geopolitical tensions cool russia authorized a one shot vaccine dubbed the sputnik lite the russian direct investment funds does it has an efficacy of 79.4 percent and will cost less than $10.00 the shanghai composite is down losing 2.5 percent for the week despite the drop china's exports were more than expected at over 32 percent in april fueled by global stimulus but services sector also grew at its fastest pace in 4 months the hong saying it is in the red this week after a slight loss on friday pushed hong kong just engine negative territory tech took a big hit as tensions between china and the west continue to weigh on the sector costing 4.3 percent in japan the nikkei is up despite concerns over the government's plan to extend the state of emergency until the end of may video game

maker nintendo also lost 3 percent on friday as it confirmed the demand for its switch console is expected to decline 11 percent this year now over to india where the sun sex is in the green even as the nation continues to see a massive outbreak of code cases new daily infections were above 300-0042 weeks straight but the lack of a widespread lockdown is keeping this surge from weighing on stocks banks also saw gains after india's central bank boost of lending to help the economy and australia the a.s.x. is up mining companies saw gains as the tech and banking sector face losses tensions with china also hit a new high. this week leading beijing to indefinitely suspend high level economic dialogue we have another green arrow for the all share in south africa while the vaccine drive is just getting started 14 percent of the population have received at least one dose

a new order's poll also suggests that the south african economy will grow by 3.7 percent in 2021 in london the footsie is up the bank of england upgraded its forecast for the country's economy saying it is expected to grow 7.25 percent this year from previous estimates of 5 percent as the vaccine rollout continues the german dax and french kakkar also in the green new data shows german exports grew by 1.2 percent in march while manufacturing activity grew 2.5 percent for its part french industrial output was just shy of one percent the country's finance minister says the government will decide in september whether to expand its economic stimulus plan in brazil but it is also up this after the brazilian central bank raised interest rates by point $75.00 basis points to 3.5 percent on wednesday as

the nation continues to deal with inflation the b.m.v. is in mexico despite will inflation hitting its highest level in 3 years well above the central bank's target inflation surged more than 6 percent in april from around 4 and a half percent in march here in the united states the dow and the s. and p. are hitting record highs but the nasdaq is down despite the latest data showing the u.s. added fewer jobs in april than expected the 3 major indices saw gains early on friday supported by heavyweights apple facebook microsoft and amazon and finally to canada where the ts x. is up things were mostly even for the week going into friday. but rising gold prices push the material sector up hoping to solidify that green arrow now moving into next week we will continue to keep an eye on the state of inflation and how it is being impacted by a growing shortage of basic commodities and that is your global market walk.

a long running dispute over fishing rights led to a full on military standoff between the u.k. and france on thursday after approach us led by french fisherman resulted in the navy's from both countries deploying ships to the area british prime minister boris johnson is calling the conflict results for now in a statement he said the trade and cooperation agreement that went into effect with rex it brought in chances for fishing arrangements between the u.k. and the e.u. as a result the small u.k. dependent island of jersey has a right to regulate fisheries in their waters so joining me now to discuss its quarterly dividend of stroll mark i'll see hillary it's great to have you on the show today as soon as i saw this story i knew that you would have something to say

about it so what led up to this conflict and why did it lead to a military standoff. well rachel you're totally right you have months and months for me to explain a situation how this is been extremely complex and this was actually one of the big hitches over breck's it a small issue really in terms of the revenue generated for the british fishing industry in terms of the overall economy however a huge national's nationally symbolic issue in terms of the sovereignty of the seas and that's what courts johnson had always referred to it as this actual issue is actually a bureaucratic hitch it's about the judge jersey legislature issuing licenses for those french fishing boats they had to demonstrate that they had a previous track record of fishing in those waters with g.p.s. systems a lot of those boats don't have g.p.s. systems and of course there was the insinuation that this had been done on purpose and for those not familiar with jersey it's a very small island it's actually about twice the size of manhattan it's much

closer to france about 50 miles from france and something like 7078 miles from the u.k. but very significant for the french fisherman they were outraged that they lost their access to these waters around jersey where the fishing is actually rather significant for them in terms of their catch or is also the issue is say in this space and watch this space until 2026 because that is what's called the transition period these next 5 years where this issue will come up quite a bit because 25 percent of all of the catch has been agreed upon by the e.u. and the u.k. to be returned to the u.k. so 25 percent is going to be transitioned over 5 years and i'm pretty certain that you're going to see more of these issues the next issue coming out is those same french fishermen have actually threatened to blockade the port of cali wow ok so this is somebody who will continue to can't following it's not just kind of

a fluke incident between the 2 countries but the timing of the author very notable here because. this comes just a day after the g. 7 summit where the u.k. and france were among the countries valen to work together so do these disputes over post bracks and agreements stand to threaten the major alliances like the g 7 that the u.k. and the e.u. are both a major part of we're right rachel the g. 7 ministers and development as just met the actual summit is going to be in june in cornwall actually called this day in the u.k. and that's where you'll see all the global leaders including from the u.s. side will be attending members of the g. 7 but i would say this it was an inside government minister just actually announced and he basically positioned it this way he said we're like 2 brothers referring to the u.k. and the french he said we're very close we're close allies but just like brothers there are bumps in the road i do think ringback this is

a flashing point mainly because there are the economies at stake in the throughout france i don't think it's going to break the g 7 that's almost the certain because it's so significant in terms of overall economic impact the both nations but remember this macro is up for reelection and he wants to deflect blame anything other than his own policies for any failures he doesn't want to admit his failures in terms of the french economy and as you know there are many moves for a frex it for the french to leave due to the failure of his economic policies so he's going to blame anything including these fishing agreements and definitely a lot of moving parts there and we will have you back for future updates especially when it comes to those fishing disputes hillary ford which thank you so much for your time today. pleasure rachel. time now for a quick break but when we come back the private messaging out signal says it was a block from posting an ad that told the truth about how facebook exploited users

well this cast next and as we go to break here's the numbers how to close. our culture is awash in lives dominated by streams of never ending electronic hallucinations that birthed fiction until they are indistinguishable we have become the most elusive society on politics as a species of endless and needless political theater politicians have morphed into celebrity are 2 ruling parties are in reality one party to corporate and those who

attempt to puncture this vast breathless universe of fake news designed to push through the cruelty and exploitation the little courts are forced so far to the margins of society including by a public broadcasting system that has sold its soul for corporate money that we might as well be mice squeaking against an avalanche. we must. take a live news anywhere you go plus an elegant think straight on line and video library with a built in search engine it will fit right in your pocket it's free interaction just aren't in texas stars went off 2. 1000 the deficit's text for videos uploaded every hour so what are you waiting for plucked up the forgetting.

how to read out turn on the t.v. on the back the world was happening around me i see shows on the screens but in last every day because of fake news narratives is that a state. who may be going to sue on little to no business with tom after the bar brick by brick globalism a kid on how to play me off there in the store but i found a network that open question. the private messaging app signal is calling out facebook saying it was blocked from posting ads that told the truth about the tech giant and the ways that exploits users in order to target them with advertisements now facebook is calling this a publicity stunt but signal says it is using this as an opportunity to raise

awareness archies science explains it's no secret that facebook runs an extremely successful and profitable digital advertising operation based on every user's behavior yet many of the people who actively use it services aren't aware how the social network giant shares their data with advertisers now the full picture is hazy to most dimly concealed within a complex system in fine print designed to be scrolled past by users now to shed light on the issue and nonprofit privacy focus messaging app called signal which is also a direct rival of facebook's whatsapp claims that they try to use facebook's own targeted admission against ed how by launching an ad campaign on instagram by using this same exact multivariate adverts that facebook's ad tool users and don't forget facebook also owns instagram now signal revealed a series of deeply personal ads with

a blunt message designed to expose the internet categories facebook users to classify users to give you an example one read you got this ad because you're a newlywed pull out his instructor and your cartoon crazy this ad use your location to see you're in la jolla you're into parenting blogs and thinking about l g b t q adoption now in a block pose signal claims that all the ads are removed by instagram recreated a multi-variable targeted ad designed to show. the personal data that facebook collects by you and sells access to the ad would simply display some of the information collected about the viewer which the advertising platform uses facebook was not into that idea in response to signals blog facebook denied that it suspended signals account for running the ads and accuse the organization of pulling a p.r. stunt this is a stunt by signal who never even tried to actually run these ads and we didn't shut

down their ad account for trying to do so facebook said if signal had tried to run the ads a couple of them would have been rejected because our advertising policies perhaps it ads that assert that you have a specific medical condition or sexual orientation as say go should know but of course running the ads was not their goal it was about getting published city now signal in turn refuted facebook claims saying on twitter we absolutely did try to run these ads the ads were rejected and facebook disabled our attic ound these are real screenshot as facebook should know now as facebook spokes person responded on twitter saying that the screenshots from early march when the ad account was briefly the sable through few days due to a related pm an issue now from what we've seen so far it's difficult to see who was speaking the truth here signal has been actively advertising its services as the

pro privacy alternative to what's app facebook on the other hand has not always been the most transparent company and signal is funded by brian acton an entrepreneur who sold whatsapp to facebook for 22000000000 dollars making himself a billionaire several times over in the process now act unless facebook and whatsapp and 2017 and later claimed that facebook was a laying the groundwork to sure targeted ads and facilitated commerce. messaging and whatsapp and following that can bridge analytical scandal act and tweet it it's time hash tag lead facebook for boom bust i'm sorry to have injure r.t. . joining me now to go further and up on this story is boom bust co-host and investigative journalist bones fawn all right ben we've got 2 sides saying different things here so do you believe that signals out account was actually polled as they claim or was this

a publicity stunt as facebook claims yeah i really don't know i mean facebook makes a good case for why it was just a stunt you know obviously signals as it wasn't but i don't think it really matters whether or not facebook actually pulled the ads because because either way signal winds right because what they've done is they have created a p.r. campaign out of the fact that they have told the truth about how facebook goes about through instagram and facebook conducting targeted advertising by selling your data look we all know that it happens but creating any kind of buzz around the glary obvious results of this kind of data mining that takes place through facebook i think is a positive thing for signal so listen i don't know who's telling the truth here but i don't think it matters because the as told the truth about what facebook and instagram do every single day to billions of people around the world you know that's an excellent point instead it's kind of turned into this he said she said

battle instead of looking at this content that they've put out there for you to see exactly how you're targeted just based off of what you're doing on facebook every day ok so there is a bigger issue here than just this one of bad publicity we know that signal is a direct competitor to whatsapp so how much of an effect has signal had on facebook's messaging properties. well i think signal has had a big effect on what's app but i think facebook has had a bigger effect that mark zuckerberg has had a bigger effect on whatsapp because of the fact that may 15th which is just a few days away there is a deadline that's been set on whatsapp that essentially says you have to agree to their brand new terms of service or you will have your account disabled and you will be able to use what's up anymore and there are a lot of people as you know rachel who are very concerned about this because some of that terminology in the new terms of service for whatsapp seem to indicate that your data will be collected and sold in the whole point of what's app is it supposed to be encrypted messaging service just like signal is indeed in encrypted

messages service so the idea that that would happen and of course those because all that's not going to happen with the terminology is different this is only for certain into g.'s and certain pages yet will take their data and will sell the data for 4 groups and pages that are on whatsapp for businesses but we will do it to you as an individual vigil user there are a lot of people who are fleeing away from what's app as a result all right in a lot of people who have learned about trusting facebook in this process and of course those alarm bells went up whenever they decided to buy what's app and what that kept saying oh no we will stick to our policies here but you know how do i get as i write so what is the biggest threat to facebook's continued dominance in this social space i mean after all it seems like there are more and better competitors on the rise that we have then we have seen in a long time is that correct. i think that's true and i think the reason for that is because of facebook again listen it is what's amazing to me such as facebook facebook twitter you tube google these companies actually are creating the market

opportunity for competitors 4 or 5 years ago there was no space left for somebody to really compete and if you did have the space to compete you just got bought up and acquired that's what happened to instagram it's what happened to whatsapp the difference now is that companies like facebook because they keep doing things where they abuse user data and then they say loops they pay a fine or they change something like what's app which is extremely popular that they didn't build in the 1st place they simply buy it and acquire it and then they start changing the game for it they're actually creating the market opportunity for companies like that. ben song thank you for your time and insight on this one thank you. that's all for now you can catch bin bass bite and on demand by downloading the portable t.v. app for your apple or android device see you here next time and as always don't forget to question more. i i.

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a free no obligation consultation on our complete line of affordable portable oxygen products can be anyone on medicare or with eligible insurance plans they qualify to get an indigent one ed little or no cost call 805536952 those 805536952. 'd i think the average viewer just after watching a couple of segments understands that we're telling stories there are critics can't tell you know why because their advertisers won't let them. in order to create

change you have to be honest you have to tell the truth artie's able to do that every story is built on going after the back story to what's really happening out there to the american what's happening when a corporation makes a pharmaceutical chills people when a company in the. our mental business ends up polluting a river that causes chancery and other illnesses they put all the health risk all the dangers out to the american public those are stories that we tell every week and you know what they're working. on. right now there are 2000000 people who are overweight or obese it's possible to self. i'm sure very insulting and addictive it's not at the individual level it's not individual willpower and if we go on believing that will never change this obesity epidemic that industry has been influencing very deeply

the medical and scientific establishment. so what's driving the obesity epidemic it's called for both of. our culture is awash in lives dominated by streams of never ending electronic hallucinations that burst back fiction until they are indistinguishable we have become the most diluted society of politics as a species of analyst and needless political theater for politicians to have more than just celebrities are to ruling parties are in reality one party to corporate and those who attempt of this vast breathless universe of fake news designed to push through the cruelty and exploitation of me a little torn up for so far to the margin.