it 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 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 issue in 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 because actually does happen in chicago talking about that the value which is derived from the control it gives the users to actually own the ass that they coined 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 see many instances where it was

actually seized by government in the past and big when a block came for that matter it's been their ship resistant so the c.e.o. that actually said it best so topple is a cripple cut that in an eco up he grew up in argentina and his family actually lost their savings 3 times over the last 2 to unfair confiscation of asset so keeping this kind of framework and mind big question is the that it's not just and then next our global disaster it's more so about hedge fiachra change because unlike the u.s. dollar or the pound that is no longer has any sort of intrinsic value that went and should that value is actually growing and likely to strengthen over time as a non comfortable characteristic decentralised nature and also fungibility as to 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 bridge. and you know that they're going to be

ready to talk about how safe and trustworthy it is of course after these comments and other ones like pickling ok so governor bailey also claimed that you should only buy crypto if you were prepared to lose all your money highlighting risk to the financial system in the speculative nature of crypto currencies are these dangers and risk inherent in kryptos. some risks in the currency but there are risks inherent in 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 cryptocurrency because the takes power away from central government i mean let's not forget the 2007 financial crisis people actually lost everything their home their life savings and besting and these near worthless subprime mortgages that were supposedly backed and supposedly safe so let's look at even a more recent example venezuela and turkey they all suffer currency crises and recent years but as well suffered hyper inflation 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 currencies that bailey is choosing to ignore and in fact in those countries the only people who actually didn't lose everything are those who turn to crap and exchange their worthless b. op money for point so yes there are parts of the crypto universe that is speculative in nature things like gold coin that we talk about things that don't really have an effort to sion or utility that's being hyped up as a meaning point somewhere to what we witnessed in game 7 and see earlier this year but that's just a very small part of it things like that coin and if they have real value real technology and real use cases being developed so it's not just speculative and of course those are wrists just as there are risks inherent in any sort of investments but bailey's comments are just pure fear mongering and at this point trying to john's crypto refusing to adapt and accept changes that are coming into the financial system and even china who actually did hell like all this new 5 years ago

they now even change china went so far as to ban big climb back in 2017 during these risks to the financial system and the speculative frenzy that it would generate but even they've 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 those officials think that they're going with the status quo but it could come back to bite them long term especially as crypto currency has become more and more popular excellent points 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 into 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

a lot of in 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 lock down is keeping the surge from weighing on stocks banks also saw gains after india's central bank boost of lending to help the economy and australia at the a.s.x. is up mining companies saw gains as the attack 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 up 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 a protest led by french fishermen 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 straw marc see hillary it's great job you're 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 richard 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 morris 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 is being 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 e.u. scatch 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 fisherman have actually threatened to blockade the port of cali wow ok so this is something i will continue to can't following it's not just kind of a fluke infinite between the 2 countries but the timing is also 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 why do these disputes over post brecht's that agreement 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 says just met the actual summit is going to be in june in cornwall actually called a stay 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 closely a close allies but just like brothers there are bumps in the road i do think 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 to reelection and he wants to deflect and 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 and 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 up a close. when

we did our 1st show of the year we name 3 names for 2021. dollars ation. now here we are in the 2nd quarter 2021 minutes showing up because one of the primary reasons for getting inflation here is the globalization has put american china on an antagonistic footing we got a new cold war here and all the benefits that came to the u.s. economy by shipping our jobs over to china has now been used. we start here at the garage or at least so the need for good can reach the other than the human rights one. but on the but i'm going to do the

cooking is so small that this isn't just. me emotional running t.v. must do i feel still a stock or even a simple cynical spoken media which uses jim but i function is just for fun for all children. compassion that. we think you minds be so good soldier to piss off the boot she's wearing. which so sold out so can move to a possible appeal more than with will be done you'll love it i'll be sure stock it up with some russian police force to behold it. was a pandemic no certainly no borders and just bought into nationalities. as

much time with the we don't look like seem to be sticking to. judgement commentary crisis with this system since my time so. we should. everyone is contributing a general way but we also know that this crisis will not go on forever the challenges create the response has been masked so many good people are helping us. it makes us feel very proud that clear in it together. hey. 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 have injured 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 are with advertisers now the full picture is hazy tomorrow's dimly concealed within a complex system in fine print designed to be scrolled passed 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 uses 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 post signal claims that all the ads are removed by instagram recreated a multi-variable targeted ad this zine 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 denying that it suspended signals account for running the ads and accuse the organization of pulling a p.r. stunt this is a stunt by cigna 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 screen shots as facebook should know now as facebook's spokesperson responded

on twitter saying that the screenshots from early march when the ad account was briefly the stable for a few days due to a related payment an issue now from what we've seen so far it's difficult to see who was speaking the truth here signal has been product actively advertising and 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 it is funded by brian acton an entrepreneur who sold whatsapp to facebook for 20 $2000000000.00 making himself a billionaire several times over in the process now act unless facebook and whatsapp and 2017 and later claim that facebook was a laying the groundwork to sure target ads and facilitated comber. 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 wins 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 don't 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 and 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 message in service so the idea that that would happen and of course they because all that's not going to happen with the terminology is different this is only for certain into teas and certain pages yet will take their data and will sell the data for the 4 groups and pages that are on whatsapp for businesses but we will do it to you as an individual vidual user there are a lot of people who are fleeing away from what's out 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 that again as i write so what is the biggest threat to facebook's continued dominance in the

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 this isn't 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 and 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. bence on thank you for your time and insight on this on. thank

you. that's all for now you can catch boom bust by tim on demand by downloading a portable t.v. out for your apple or android device will see you here next time and as always don't forget to question more. is you'll be a reflection of reality. in the world transformed. what will make you feel safe from. isolation will community. are you going the right way or are you being

led so. direct. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or a maid in the shallows. or deep seated part of. them tense i would say i'm not american but americans helped out really. world war 2 cures for depression far sometimes traces concerned prosperity of course of store . for the for us the whole world what it what end. historical rewrite since world

war 2 to foment the cold war against russia against communism and. socialists mishmosh. the soviet army out to all close to swath and we're so used to call them go. all i think world war 2 has been distorted credibly by the anglo-american media and that's because they want to diminish the role of russia. and stalin who actually defeated hitler. the so too at the least so the need for good in each. other than the human one. but on the but i'm going to do the book at least so that this isn't just one instead of. me emotional learning to be must do i feel still really stuck with

muscles from the course for need each muses jim but if i should. go chill the fuck should. confirm these 1st compassion that. we think he minds be. soldier to kiss off the boot she's wearing. huge winched so still sold out so it's a move to a puzzle to put you more than with it and you'll like it i'll be sure stuck to it in the summer was in the police force sort of us all the. shots seemed wrong. but all in all just don't call. me all that is yet to shake out just a few cuts to education. because the trail. when

so many find themselves worlds apart we choose to look for common ground.

stories here on our. schools from using a version of the french language that supporters say the void's sexism people though are divided about whether reforms are in fact actually needed. we must include everyone for me it's a bit bland to the issue of sexism and pricing is something you have to take into account cities useless complicate speech over 200 people and a number of offices are injured in clashes in jerusalem with police apparently also taking exception to journalists filming the unrest. and with a day to go until moscow stages as you will victory day parade.