the latest numbers are this at least 9 people including 7 children have been killed and 21 others injured in a mass shooting at a school well according to the press. which is the capital of the city is located around 800 kilometers east of moscow one suspect arrested is said to be a 19 year old former student who according to reports had a gun legally registered in his name and we'll have more information on this story shortly here one international is just not for in the off the new here and we've been covering the breaking news now for several hours since the mid morning hours if you've missed anything on it you can always catch it online at www dot com for the meantime though we are back shortly with. the problem with having money printing. near 0 percent or 0 percent interest rates

is that it destroys. the economy because you're saying the underlying fundamental substance of the economy that is money money itself is the material economics of capitalism you're saying it has a 0 value so therefore if you have a 0 value for the substance of your economy it's very very difficult to build something that you can point to say well that has value doesn't have any value because they're both equally valid even less. wrong. just don't hold. me. to shame. and. trail. worlds apart. she's to look for common ground.

i. this is a boom bust one business show you can't afford to miss branch of war in washington coming up a ransom or attack has forced the closure of one of the largest fuel pipelines in the united states we'll bring you the latest and discuss the threat to energy infrastructure in the nation plus the leaders aren't convinced that u.s. backed pat wavers will be immediately effective in the fight against covert 19 we'll go over the details and take a look at where global cases stand and later dogecoin is down as a theory of his fresh record highs take a look at the crystal landscape and where markets ended monday with tech show today so let's dive right in. and we leave the program with one of the biggest attacks on u.s. infrastructure in history ransom seeing hackers have broken into the colonial pipeline

one of the largest pipelines in the nation as it provides fuel for 45 percent of the eastern united states forcing it to be effectively shut down now colonial pipeline and the u.s. government have both blamed ransomware for the massive outage pointing the finger at cyber criminal gangs who routinely hold data and computer networks hostage in exchange for digital currency payments joining us now to discuss this cyber security expert and president of dark intel todd shipley and blue bus co-host and investigative journalist ben swan now ben i want to start with you here what can you tell us about the shutdown and who is actually behind it. yes so it's a pretty major shutdown as you're describing here 45 percent of all the energy supply for the east coast runs through this one pipeline which is based by the way right here in the atlanta area in alpharetta georgia but it's simply is taking fuel all the way through the east coast all the way through louisiana and then into

texas. ultimately houston that's where it runs and what we're talking about here is about 2500000 barrels a day of everything from diesel to gasoline to jet fuel that run through this pipeline so there's a lot that's at stake here there's a lot of infrastructure that's being affected by it that includes not only you know gasoline and the gasoline supply on the east coast but it also includes fuel for airports so the charlotte airport relies heavily on this pipeline for its fuel as does the atlanta hartsfield jackson airport the busiest airport in the world in atlanta so all of these issues are kind of you know piling up on top of each other and what we know is that it's been 4 days now that this pipeline has been shut down because of hackers who were able to infiltrate it what they're asking for as you said is some kind of a ransom payment that we don't exactly know who these folks are there is a suspicion that it's a group called the dark side but we don't actually know that for sure they have not claimed responsibility nor has colonial pipeline said exactly who is making these

demands. that a group that is despite a suspected of being behind the attack as ben just mentions called the dark side a it's a new but professional group of criminals believed to be operating out of the former soviet republics what do we know about this group in your cybersecurity expertise. well we know if you things obviously we know that last august they announce themselves that they were going to come on to the scene and provide ransomware to companies to blackmail them through a press release so they went out and said we're coming for everybody except for they are very careful to say that we're not going to hospitals and some other places that these ransomware groups have got a bad name from and that they were going to donate a portion of their proceeds that they obtained to charities and they've done some of that so far that we've i'd been a able to identify but the group as been said we think it's out of the former soviet union the code that's been reviewed by some of the companies looks like it's from that region in particular because they've. taken the

point to not attack countries from the former soviet union those block countries and they do this for a reason so that they can you know independently work in the soviet union without the chance to law enforcement to go after them and only go after western countries . you know as a kind of measure you kind of set this up how exactly is cyber criminal organizations make money is it all through crypto currency payments and is there danger in making payments in the way that this will encourage more of this future and on top of that i'd like you to address to you know as had just mentioned there it seems like they're trying to say they're robin-hood here that they're you know they're taken from the wealthy they're going to give it to charity i mean what do we need to know about all that yet well there's a couple of important points there let's start with the last one yes they actually do kind of set themselves up as to be a robin hood as type of group from the rich we steal from big corporations and governments around the world and then we give away

a portion of the proceeds to charity which is kind of an interesting kind of i guess spin on it if you will yeah they do receive through cryptocurrency and this does happen in other places look i think there's a certain segment of the population by the way that actually like this kind of thing or not like it and. terms of just necessarily thinking these are the good guys but just in terms of saying hey if you're stealing from you know a big oil company if you're stealing from a company called colonial pipeline what harm are you really causing now obviously there's a lot of harm being caused here especially since the down effect of all of this does impact the lives of hundreds of millions of people potentially 4 but in terms of these organizations you asked the question about whether or not this encourages if you pay the ransom so right now nothing's being said about what the ransom is exactly how much it is and how it would be paid but this is not the 1st time this is happens happened with a lot of different entities and it happens with municipalities especially hikers go in they freeze up computers to a certain city so they can access certain records and then they demand a ransom payment and what we know about that is i'm not advocating for it but we

know that it's many times cheaper to actually pay the ransom then it is to all the cost that goes into getting these guys out of the system and trying to secure it so again it's a complicated situation especially in this situation where time is of the essence to be able to make sure that fuels delivered in a timely manner the one positive is we're not in the winter months when you're cutting this off so it does have at least it's not hurting people in terms of needing that heating fuel which you need on the east coast. a u.s. senator bill cassidy is a republican louisiana who sits on the energy committee he said lawmakers are prepared to work more with privately held critical infrastructure companies to guard against cyber attacks and what kind of support should congress be given these private companies and just how vulnerable is the energy infrastructure to these types of tags and to a certain set i apologize for talking too much here but to ben's point you know this isn't the 1st time we did these stories on blue bus you know a year year and

a half 2 years ago about these municipalities who were hit by these ransomware tech so it's not like we didn't know this was possible and just now it's a big company like this and now all of a sudden we want to address this so what can they do and how vulnerable are we to. well the latter 1st is we're vulnerable there's no doubt about that and i think it's evidence by the fact that you've been running these stories for number of years and i've i've talked about this on your show before about these ransomware attacks and how vulnerable companies and municipalities are i think what's changed is the fact that they've gone from asking for a few $1000.00 to now millions of dollars in a local government doesn't have that money to pay but the big companies do it so now they've started looking at those big companies because it's a much bigger payday and that's why they're going after it now as what can congress do well the problem is throwing money at this is not going to solve the problem we've got to have a better understanding of what the infrastructure is and where the problems lie

within that now that certainly is not something we want to publicize because then the you know attackers will be able to find it but we've got to work better within congress to provide the training and understanding of how to protect the systems and take a better effort that this is actually an attack on the united states and not just one company because if you go to dark sides website right now on the darkness and on tor there's a list of the companies that they've attacked in this is not just the only one they've attacked some since then so this is going to be an ongoing problem and we've got to really research how we're going to you know look at this and change this from a threat to a positive force now ben but before we go what is the biden ministration doing in the short term to help and how is this going to affect gas prices that have about 30 seconds. yeah i can at the gas prices i think already the gas prices on the east coast are expected to jump between $22.30 a gallon so that's already starting to happen by the ministration is relieving some

of the rules on big rigs and tanker trucks on the highways as they try to move more fuel that way so it's mark last thing i would say very quickly is that part of the answer to this problem might be in being less dependent on these kinds of technical logical systems being more dependent on a human workforce and less on the on the tech side i know that goes counter to what we believe but it would actually open yourself up to fewer attacks if you were to do that more human dependence. shipley president of dark intel and boom bust co-host ben swan thank you so much for the nelsons today thank you. and several leaders in the european union have raised doubts that a us call to wave patterns for coping $1000.00 vaccines would help the global vaccination drive in the short term e.u. leaders spoke about the situation during a social policy summit over the weekend in portugal claiming more exports and

increased production would offer the needed help. this is an export. since and we encourage you all to do for us to be through the exporting of those and. then with your purpose we don't think. it's a magic bullet for you already to endure this. proposal would be put on the table i made it clear here already that i do not believe that releasing patents is the solution to provide for more people rather i believe we need the creativity in ability to innovate and for me to protection is a part of that it is all about the question of how we can get as many vaccines for as many people in the world in the shortest period of time we. have to be granted and what i know from german companies is that is happening in a huge quantities in a timely manner priority it was not had. would be lying.

production what is blocking surviving today 1st of all you must say when i'm out of what you have produced were no less than 50 percent in the united states and 100 percent of what has been produced has been used on the domestic market that's the 1st fact for them so 1st of all the anglo saxons stuff their band the next week it's the 2nd faster because you can certainly use more vaccine as has been done more and more in europe it's technology transfer that's 60 and last week us president joe biden supported a call from south africa and india to waive patent protection for the vaccine citing extraordinary circumstances related to the ongoing pandemic and is continuing to deal with the world's worst covert outbreak the world's 2nd most populous nation on monday reported near record highs in new cases and deaths while many indian states have large scale lock downs in place many are calling for prime minister narendra modi to institute

a nationwide lockdown for more on the latest let's bring in our to correspondent side to aventura. our friends are saying in india right now if you look at the cases and deaths happening right now there's actually little hold of the curve or trend going up just on sunday india reported more than $4000.00 additional deaths since brings the total to $235000.00 plus experts believe that figure the 235000 total to be a significant undercount now the w.h.o. has also just announced a new highly contagious triple needin code variant spreading in india as what they're calling variant of concern indicating that it's become a global health threat now a variant can be labeled as of concern if it has been shown to be more contagious more deadly and more resistant to the current vaccines we have right now and treatments now apart from imposing a nationwide lockdown in india which many are calling for vaccinations really

india's only hope in fighting against a pandemic however many parts of india still face a shortage of vaccine supplies to actually come up with the vaccines and the u.s. has been specially criticized for or reading and restricting the export of over $1000.00 vaccine raw materials specially to our head countries like india now the other major debate has been on getting the vaccine to places like india or even south africa has been for countries not just countries i should say and pharmaceutical companies to east hadn't rules on pull that 19 vaccines and like you mentioned earlier the bided ministration has advocated for a waiving those and they're not going to lecture all property rights for covert drugs but countries with large pharmaceutical companies like germany said they would impose any plans to waive patent laws and called the 19 vaccine and i should also mention that it's not just countries but major drug companies like pfizer and

even more durn a that strongly opposed plans to. even temporarily intellectual property rights on vaccines you know their argue that their move would threaten their future and innovations brant and now it's only back to the united states and how we're doing in cases in the vaccination process at this time what are the numbers so on like india they us in the us not a single state is reporting it increasing cases in the past week compared to the previous week plus a majority of the 33rd states total are reporting actually decreasing cases now nationwide cases are down 30 percent that's they're down 6 percent and also the major factor for the rate has been as you say the major reason for this rate going down has been vaccinations the u.s. where over 34 percent are now fully vaccinated and brand of the current pace of

vaccination there we're seeing right now in the u.s. everyone could get a shot of this in 1000 vaccine this year largely correspondent side chatter thank you so much for keeping us up to date. and time now for a quick break but when we come back if the currency had a wild weekend as it did you record highs in those oil well it took a dive we'll break it all down on the other side and as we go to break here the numbers of close. is you'll be a reflection of reality. in

a world transformed. what will make you feel safe. and they should. see. you going the right way. what is true what is. in the world corrupted you need to descend. to join us in the death. or inmate in the shallows. the world is driven by a dream shaped by. the

. same. we fear to ask. hey welcome back the pentagon is contemplating scrapping its jet i cloud computing project as the us government faces litigation from amazon according to a new report from the wall street journal 10000000000 dollars project was awarded to microsoft in 2019 in the last month a us federal claims judge refused to dismiss a challenge from amazon which argues the contrary process was influenced by then president donald trump the report from the journal references comments made by deputy defense secretary kathleen hicks no following the ruling when she said quote

we're going to have to assess where we are with a. gars to the ongoing litigation around jet i and determine what the best path forward is for the department a pentagon report to congress from january also raise questions about the future of the contract saying quote the prospect of such a lengthy litigation process might bring the future of the jet i cloud procurement into question. and while there has been so much talk about new records in crypto currency that's a different story for us equities monday with the dow touching record highs early in the day before boiling pulling back to near even at the close while the tech heavy nasdaq lost more than 2 percent on the day so let's go ahead and take a look at what's happening with so ben smith is c.e.o. of transformative research and boom bust co-host christine chrissy i want to start with you it seems like tech is no longer the market darling anymore what's going on here. well right now it's kind of like big tech and small caps the kicking hard

today and that would normally be interpreted as a risc os moment but it's actually more neutral there's just a slight little rotation going on here as investors are swapping out girls' names for value names so in particular it was kind of a surprising call that citi it's internet analyst downgraded apple alphabet to neutral from buy as he cautioned companies that derive revenue from digital advertising so he highlighted that during the last 15 years internet as enjoyed 3 periods of accelerating growth and repudiates of growth and right now where in the middle of that the starting period so gross it's likely going to be very difficult year over year given difficult comes ahead as there is very little evidence of at intensity per dollar of economic activity rising and with kids book essentially making up nearly half of the fangs the price action in tech has been especially frustrating so facebook fellow or 4 percent amazon an alpha that fell more than 2 percent and many thought that the move from friday would follow through and elicit

a more sustainable rebound in the space but instead their group is being aggressive selling today and accumulating a lot of technical damage as he levels of support so right now the market also playing its game of expectation rises reality the markets well price for a real betting with expectation that pent up demand narrative but if it fails to materialize there's a lot of room to fall as a rally has been overextended and now it's you know with all this is a backdrop we're gearing up for a busy earnings week with a bunch of recent mortgage debutant set to report including bumble coin base roadblocks in posh market what should we expect from these names and have they gotten a little bit too hyped up. well i think you've got to step back a little bit here we have you know we've talked about in our newsletters and our managed accounts people that we've had a change in inflation expectations and with all due respect when inflation rates go high we have 10 different forms of inflation that's essentially like over powering

the deflationary side we've had 12 years of deflation with amazon prices in e-commerce prices coming down and so on and so forth that we overall had no inflation now that we have governments that will spend an unlimited amount of money print. unlimited out of money. you know we have actual not enough supply in more demand that's called cost push pull that's inflation so tech stocks that are to be discounted out 5 to 10 years have to now raise the desert because interest rates are going to go up because of this inflation that's what that's what bonds do the bonds are the ultimate interest or inflation hedge and or certainly barometer so we should expect higher rates we should expect much higher prices look at copper look at we look at quarter look at anything you eat or you put your car and then on top of everything else we've got semiconductor shortages which is stopping

production so i've never seen in all the 30 years that i've been in this industry i've never seen this many inflation creators and drivers all at one time so that's why tech is be used as a source of funds what if we bought the last 5 weeks we put freeport back around for copper we brought c.b.x. chevron we've you know lumber excedrin we're making great money with that but you know what we're selling we're selling those tech stocks so they're now a source of funds and christie i want to move into a broader technology discussion i guess there is the crypto currency which is kind of the new darling as big point sits around the $60000.00 mark it broke 4 $1000.00 for the 1st time on monday but some analysts there are saying it is overvalued at current levels what do you think about that claim. i mean how is easily her value here because we don't say kelso is overvalued because apparently tesla's worth more than toyota now even though toyota sells 30 times more cars than tesla last year

but apparently the market does increase as that continues to rally have to sell now it's not overvalued seeing as it's being fueled by expectations of a wider use based partly on its role in d. 5 so there's more than 150000000000 dollars in total mallya locked all across these d 5 platforms with most of the action now running on the area so even other sectors like insurance and derivatives there are also growing and institutional investors have also wanted up the east and it's a portion of total cryptocurrency in market value now stands at over 18 percent compared to $42.00 so essentially it is the pioneer of all programmable pla chains and the enabler of all the popular products coming out including d 5 n f t's so if we see a price appreciation of a coin as a signal of crypto currency being favored as an investor bill asset eats price spike should also be the signal that block change based applications are being acknowledged and adopted so each has the potential to take over 25 percent of the

total market cap as the market of cryptocurrency is mature and last week we also the asset manager band x. and an application to launch and each so right now there's a lot of momentum here as they transition from approval work to proof of state law change so it's not all speculation that's driving it it's real networking chile and as such institutional managers they're continuing to help support these higher prices institutional is now hold about $13900000000.00 worth of heat across the board. here's another one for you dogecoin was it was down nearly 40 percent after a c.e.o. elon musk saturday night live appearance so was this just a big pump and dump scheme is there any value to doe's corn. you know it's a good sense of an indicator that's exactly what it is and if you were a subscriber we owned dogecoin into s n l we sold you know on saturday morning and it was we were doing it for fun i was

just doing it for giggles to show that sentiment is one thing value is another one but i'll go with your other guests point remember that if theory and this block chain is is essentially disrupting financial services and we pay for financial services whether it's interest or late fees or whatever it's about a $42.00 trillion dollar total address market for all those fees. lease payments being rent paying you know credit card payments is you start to disrupt that stuff and have a unit of trust and that's what these defy coins are they're a unit of trust. all of a sudden banking business is that used to charge you know what used to be $750.00 now it's $250.00 for a you know a bad charities me and fund now it's going to be 0 and so that's why these things are exploding because it works and it takes it takes the banks out of the out of

the business tobin smith of transforming research into most co-host christi i feel like we're going to go ahead a little bit back and forth there but unfortunately we're out of time thank you both for your time today. and that's it for this time you can catch boom bust on demand on portable t.v. available on smartphones and tablets through google play in the apple app store by searching portable t.v. but if you can also be downloaded a newer model samsung smart t.v.'s as well as roku devices simply check it out a portable the t.v. will see you next time. but if you want when you can for the change. to do go the idea of a major woman should slawson. which took you through into the. bush nineties through you that i see no reason to go because of my think if you.

wish old to fish not go for the beautiful building water should that it is that it's a piece of shit because if this were a small boat with us from the us we simply she beautiful. little of the board schooled once this issue of. golf is really. about out the story could get to be it by halves of much of what you mean yes the. dog momma was a shit but they could be when you get out of the scott. peterson your she could just recently sent off what she has a mistress. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race move this on off and spearing dramatic development only personally i'm going to desist i don't see how that strategy will be successful very critical time time to sit down and talk.

should. at least 9 people including 7 children have been killed in a shooting at a school in the russian city of at least 21 others have been injured some of them critically. ill. the 19 year old suspect. anything like this he had a very intelligent.