on various jobs with artificial intelligence, real, somebody with demon a robot must protect this phone existence with the boom bought the one business show you can't afford to mit ambridge, bore in washington coming up in the united states have touched base on a host of economic issues including trade and investment, straight ahead, we discuss the future of cooperation between the world's 2 largest economy. then we analyze the latest surgeon inflation and consumer prices have spike to their highest level in more than

a decade. we'll break down the trend and what it mean for monetary policy, salvador has to become the 1st nation on earth to adopt bitcoin as legal, tender. later on we're going to bring him true analysts in the field to take a look at this major leap with the fact show today. so it's dive right in. and we lead the program with news that congress officials from the united states and china have agreed to push forward with pragmatic trade and investment cooperation in their 1st call at the start of the administration of joe biden. now this was the 3rd call about trade involving high level officials of the 2 world's largest academies, a spokesperson for china. the ministry of commerce commented on the importance of this relationship, thursday, to me as the 2 largest economies in the world. the essence of the china, us economic and trade washing mutual benefit in when, when both sides have their own concern, making trade fields on the basis of mutual respect and equality. we can explore solutions on the dialogue and consultation. and the call comes just days after the

u. s. senate passed sweeping legislation to bolster competition with china. so for more on all the let's bring in boom, but co host christy i. now christy, as i just mentioned, this is a 3rd high level trade talks between the u. s. and china and just 2 weeks as any progress actually been made or is this just about politics call right now. the exact details surrounding the latest round remains scarce and washington haven't yet even issued an official response. so there are hopes invasion that a more rational approach from the biden administration could lead to a reduction in tears and further easy restrictions on chinese companies. but no, i don't think any real progress has been made here. a lot of it is just smoke screens and politics to give the illusion of work and dialogue and that progress is being made. it also keeps the headline busy, especially in tense. geopolitical situations like what we have here. and furthermore, i definitely think that this was a staged a little pony show,

given the timing of all of this right ahead of the g 7 summit which will be held from june 11th to the 13th in england. so high on violence with the priorities is to restore us alliances and transit atlantic relationships and to make a show from a position of strength and influence. and what better way to do that then to be seen getting a law play nicely they're rivals. meanwhile, china also sees this as an opportunity to offer sure that they themselves council play nice with the rest of the world and also to expand their sphere of influence. and how is china actually responding to that senate bill that we talked about the u . s. innovation and competition act. well, like we said yesterday, it's less about the fact that the u. s. is trying to increase its tech already budget and more so the fact that it's painting china as a hostile threat. the us wants to spend an additional $250000000000.00 on sundays are the infrastructure green pack go right on ahead. that's it's business. but that bill will never get past the polar i senate. so instead this bill is basically

drafted as a declaration of a cold war against china in order to unite everyone together to pass it. so now beijing has reactive by mocking washington, paranoid delusions and cold war mentality, and is calling for quote, an immediate halt to the legislations progress as it goes to the house. so the u. s . is completely distorting the original intent of innovation and spirit competition . and that's the other half of it, right? because on the one hand, the u. s. is calling our open communication and spare competition with china. but then on the other hand, it now wants to subsidize and grant fund and fund the u. s. tech industry with a free $250000000000.00 steroids injection money. so it isn't really exactly practicing what it's preaching either. and now lastly, china is also passing their own logic counter for and sanctions. what do we know about that? very little right now. the national people of congress has passed a law thursday to counter these sanctions, and the pressure is currently facing from the e. you over trade and technology. the details have not been in the east,

but it's the latest and most legal set of tools to respond. and it's intended to give chinese retaliatory met with gibby and more predictability. and it's likely. ringback this is in response to the fact that at 4 speed more hurdles up ahead and potentially more sanctions that will be coming down. so it's designed to get china predictability since it has an acute problem of being irrational, unpredictable like he's throwing a tantrum. this is to give china a framework and an opportunity now to make themselves look more organized and more rational. boom bus co host, christie. i excellent analysis as always. thank you so much. thank you. and u. s. consumer prices in may, rose at their fastest rate in more than a decade, as the state of inflation remains in focus. now the consumer price index by 5 percent from the year prior. the biggest increase in c p, i jumped 5.3 percent in august 2008, amid the nation's last financial crisis. now,

as we've talked about on this show time and time again, the federal reserve has been using inflation as an indicator for whether or not to change monetary policy. but the fed has maintain the rise and inflation in recent months will be transitory temporary, as the country's economy continues to reopen after it was decimated by the coven. 1900 pandemic? joining disgust is octavio miranda. he's a ceo of optimist. l l c. octavio there's a lot here, but i want to start with prices for march through may. so over that 3 month period actually jumped by nearly 10 percent compared to that same period last year. oh, what is the takeaway here? and how concerning is all of this data? well, i think it's very troubling. it's very concerning. i mean, we've seen the consumer price next jump quite significantly. we've seen commodity prices right across the board, jump as well. so this is very concerning. seems to be gathering steam with anything else. and i don't know how policy makers are coming to the conclusion that this is a transitory phenomenon that this is going to go away and sometime in the not too

distant future. i don't know which models they're relying on to make those kinds of forecasts. to me, it looks like they pumped a huge, huge amount of money into the markets. and now it's coming back to haunt us in the form of inflation. i don't see an easy way out for them. i wish i understood the models. they used to predict that there's going to be transitory, but i just don't see that. and do you think right now is the time for the federal reserve to change their monetary policy? well, i think j powell is petrified. i mean, you go back and think about what happened when he took over the fed. he joined in early 2018 just as the fed was that back then sort of thought and type monetary policy as well. and the markets equity market sort of greeted with a slight crash. i mean, you went down 15 percent, not even 20 percent, but some of the 15 and 20 percent and they sort of assisted and try to raise do it more. and then the market is crashed. even further between september that year and the end of the year, and then responded by that by stopping the increases and going back and say, i wanna decrease again, equity markets and like that. so i think j power,

in particular, been chastened by this. his ability to increase interest rates, i think he knows inflation just around the corner. but he also know, and the only way to deal with it is to raise interest rates and tight managed policy. he also is acutely aware of the fact that if he raises interest rates, the equity markets are going to respond very, very badly indeed. so he's painted himself to it into a corner. i wish him luck in terms of getting out out of it, but it's unclear how he's going to do that. and i k b. i want to get a little bit of economics. what are one here? because how does raising that interest rate and removing all the q e that's been done by the federal or how is that going to help inflation just for our viewers today understand this thoroughly? well, i'm straight forward, inflation is going to be tied to the amount of money that's out there to get to the demand for money in that sounds a bit weird amount from money think is always about the same, but so, so people the, the fed as pump liquidity in the market, so the, the supply of money is increased enormously. it will have the same time as always,

even demand demand increase of money. so in times of uncertainty, like we've seen during this pandemic, the public's demand and corporations demand for money increases. you hold on to cash balances, as soon as you start to feel a bit easier about the thing, you don't demand cash as much. and so you start to spend and say, i don't need to hold onto that cash. i can move the money into other things and then the value the money falls as a result, like any other commodity would. so as the value, as the demand for that then then falls and it becomes worthless. and that is what inflation is, is passing money become worthless. so it's all question if you will have demand supply like economists always say about everything is always demand supply. that seems to be the answer to m b, e. come on problem. let's turn to your neck of the woods a little bit. the european central bank also waiting on inflation in the block thursday. inflation has picked up over recent months, largely on account of based effects, transitory factors,

and an increase in energy prices. it is expected to rise further in the 2nd half of the year before declining as temporary factors fade out. and other se be also said it would continue its emergency by purchasing at a significantly higher pace in the coming month that it had during the 1st quarter of this year. is this the right move for the economy and how parallel are what the f c b is doing and the fed is doing at this point? well, i think christian god, explicit wonderfully. when she said, inflation is picked up because of bass facts and i think that was beaut report. i wonder what base fact she's referring to. maybe that's the translation of the french. but yes, based driving prices up and it's a direct response to the monetary policy. the d. c p has been pursuing, which does that look mildly insane? i mean, it make interest rates on german government bonds been negative for as far as i can remember now. so the 10 year bonus,

a minus 2.25 percent and doesn't look like it's can, has any chance of going above into it and supposed to territory. so you got this very weird situation. europe, where on sort of the lead indicated bomb prices, interest rates are actually negative and they're talking about pushing it down further. so i don't know how sensible that is, but that's the policy that they're committed to. octavia ramsey of optimist. l. l. c. thank you. thank you. so you want the cobit 19 vaccine, but what if it's not yet offered to you in your country? well, if you can get a us visa, travel agencies are now operating, offering trip packages to the united states to get inactivated. all in an effort to boost a tourism, our de corresponded side cavender joined us with the details. so brandon, from mexico all the way to our june 100 and brazil, thousands of law americans are booking flights to the u. s. for the opportunity of getting vaccinated because in their own countries, they have no hope of getting a vaccine any time soon. so as you know,

latin america is one of the world's worth affected by the pandemic. with a death toll of over 1000000 people in almost 89 percent of the deaths occurred in these 5 countries. now, as a result, many don't want to wait any longer for their turn to get vaccinated to where they turning to places like new york or miami who are using a vaccine as an opportunity to blue tourism and their state. welcome to new york city. your vaccine is waiting for you. that's what new york city government right here announced on twitter, where they'll administer the johnson and johnson and vaccine to tours iconic sites across the city. so think of time square. you get the covered 19 vaccine, or statue of liberty. you get the cobra 1900 back, same plus the u. s. embassy in peru, brazil, and mexico have already even advise residents that travelers could visit the u. s. for medical treatment, including a cobra,

1900 vaccine and as far as south as origin, tina travel agencies are selling vaccine tourism trips. now take a look at this breakdown from a travel agency and when us iris, which details estimate cause of getting vaccinated in miami. now, airline ticket, $2000.00 are telephone one week $550.00 food. $350.00, car rental, another $500.00 to cover 19 vaccine 0. so all for a total of $3400.00, you could get your vaccine. now these vaccine tours have also caused such a huge jump in air travel to the u. s. with fairs between land american countries in the u. s. even tripling since january. now that's even as airlines have increased capacity now it's not just latin america, brand travel agency in thailand. i will also started selling vaccine tours to the us inside of the u. s. isn't alone here, right. other nations are actually offering these types of vaccine tours,

if you will know. absolutely the u. s. is not alone and offering the vaccine tours right now. the russian government is putting together a plan to bring vaccine tourism to russia, which should be implemented by late june. now, finer is looking to travel to russia for the vaccine should be ready to sweat anywhere between $152500.00. not including air for now. additionally, the mobiles has said it plans to vaccinate visitors upon arrival to help drive up their tourism. now lastly, guam, this tiny little island which is close to the philippines. they're close to japan. so korea and taiwan is also jumping on the vaccine tourism wagon and tourism is huge and crucial for guam, which relies that i for one 3rd of its jobs. so they're also hoping that this is going to jumpstart their economy. and i must say, not everyone things that vaccine tourism is a good idea. now the world health organization is calling this

a scandalous inequality of vaccine distribution concentrated mainly for the rich people. they also think that it will prolong depend demik and also threaten and well vaccinate countries with the risk of new drug resistant strains. brent r t correspondent sites avager. thank you so much time now for a quick break. but when we come back, i'll salvador has become the 1st nation on earth to adopt big pointed, the legal tender. we'll discuss what it means for the world's most popular crypto current, the, and el salvador as a nation. as we've got a break here, the number of close the the ah, ah,

in the the me when i was shot the wrong one all room just don't. i mean you? yes to see out. the thing becomes the attitude. an engagement equal betrayal. when so many find themselves will depart, we choose to look for common ground

driven by a dreamer shaped by those in me dares thing. we dare to ask me. ah, welcome back with all the bad news hitting bitcoin recently, there is some especially important crypto currency news coming out of el salvador, the central american country on went, they passed the law to become the 1st in the world to accept bitcoin as legal tender, the designation allows bitcoin the world largest crypto currency by market value,

to be used to buy goods and pay taxes and bank loans. businesses would be required to accept a bit coin for payment with the bit coin dollar exchange rate set by the market. so what does this mean for el salvador and for bitcoin? well, joining us now to discuss is blue bus coast, encrypt currency analyst, bend swan and jeffrey tucker. he's an author of liberty or locked down and calmness with real clear markets. thank you both for being here, but i want to start with you and this is kind of odd to set it up this way. but the 1st question has to be about the volatility of bitcoin. because on wednesday, i heard an analyst on another network asked the question, what happens if you order a pizza? and by the time it arrives, bitcoin is dropped 30 percent. now there seems a bit wrong headed and not quite in reality of what happens here. but how do you have legal tender that has such volatility? i think the question he was trying to ask is, i think it's a fair question. obviously a lot of hyperbole in that example right for that fast. but if it went up that fast,

so it would be great order of time it gets there, your, your delivery driver gets great. here's the thing, is that a lot of what makes bitcoin volatile really has to do with the volume and transactions. right? so when people go and buy bitcoin and large groups, like mastercard tests, they come in and they buy a $1000000000.00 for the big coin. obviously that's in the price, skyrocketing and then when you have big sell offs, obviously the price drops. but one of the reasons that we don't see a lot of stability in bitcoin is because it's not treated right now by governments as the currency. it's treated as an asset. so the more people buying that asset, the more of the price rises, the more people selling the asset, the more drops. the problem is, is that if you turn it into legal tender like you're doing in el salvador, you'd actually resolve some of those volatility problems. and the reason for that is because right now, nothing is priced in bitcoin. bitcoin is priced in dollars, that's how we determine the value of bit coin it and it's still attached to the us dollar. but if you instead said, we're going to use bitcoin as legal tender,

and so you're utilizing it on a regular basis. and the countries around the world and markets around the world and, and shopkeepers and merchants around the world are utilizing bitcoin as the form of legal tender. it would alter some of that, that instability and it would create where your, your pricing things. now in bitcoin as opposed to pricing them and dollars and then big coin is a reflection of that. and jeffrey, i'm going to ask you a question about that. i want to have one quick follow up on this because when it from the merchant and when they receive a payment, when the pizza place in that scenario received, that payment isn't then settled pretty much immediately back to us dollars. so you don't have the volatility in your coffers where you're trying to say, figure out your book at the end of the day, you might have made 30 percent over what you actually sold. well, no, not really with big coin so that one of the problems with the coin is a legal, tender. and there is a problem with this is a big point really too slow to be legal, tender for, for shopkeepers and merchants because it takes so long to process those transactions. so there are other crypto out there, which would be much better suited for this because they do have instantaneous

transactions. so the price in settle at that moment, big coin is not exactly the same and that it takes much longer to settle. so the value of the bit coin, well, it would be settled upon that transaction might be different when you actually receive it than it was when you made the transaction. and jeffrey, is there a major issue here with a country attempting to bring such a volatile assets, such as bitcoin, into their national economy? and if not, then why just pick what i guess the balance point because other might be faster. israel legitimate questions, the legislation and have a pass by the president is a very interesting guy actually. and and super incident. crypto is like super intelligent and passe about this. i think they've tried to build in a system that deals with the volatility which has to do with their own central bank, which will be holding a lot of dollars and is willing to exchange them at the market rate for bitcoin. and so what that means is that government into accept amount actually

that's very interesting issue for the volatility of, of the big claim itself. so the merchants can hold it or send it back and have it cleared by the, by the salvador, in some bank, back and dollars and, and if and to have it orient central bank, told him big point and then it crashes. then you know, that time the government, it's not on the merchant, so they've, they've kind of got that worked out a little bit, you know, in terms of the processing fees and, and, and so on that $1.00 credit that's a little bit of a complicated issue because on one hand it's, it's strange that a government re favor bitcoin over all the other 10000 criptos are out there. and some of them are much more suited as has been correctly points out for, for hand to hand training because that really good for that. i think the average processing fees now are like $5.00. i'm actually more expensive to use and credit cards. you know, however, the president is working with the while

a commercialized is in 2nd layer technology called light needs. so i see this is a to some extent, as an, as an experiment and the plain lightning technology, which has been washington development like 6 years and still i don't think it's quite ready for prime time. i may not be correct about that. you know, i'm not sure i'm ready for it, but nonetheless, i think tablet is going to be playing with lightning. never look i there, i have plenty of problems with the way this thing has come down. but i'm also agree with the crypto community is very exciting. development, and it's the 1st iteration of many and it's a blow against a dollar, which is why the i m f and world bank were making private calls with our tried to stop. and then you know to, to a lot of what jeffrey was just saying. you know, out of it, or is one of the poorest nations in the world. so this seems very,

very risky to again, jeffrey's point there. well, it is one of the 4 nations in the world, and that's why i think this is actually not a risky move. i think it's a, it's a for thought for thinking forward moving move, right. it's not a, hey, we're in a position where we can't do anything, you know, al, salvador is so poor that it uses us dollars. how poor it is. meaning that it doesn't even have its own currency. it's simply uses us dollars as the national currency there, which makes it actually in many ways the perfect testing ground for that. if you want to turn that into a legal tender to try to do it in a small country that has its own currency, actually wouldn't be a very good experiment. this is a much better experiment. and to the point about the president of the country he's, you know, jeffrey says he's, he's an interesting guy. he has a twitter profile picture where he has laser eyes switch for those in the community . know that's a part of being in this community. he is an interesting guy, he has also reduce crime by the way, in that country by 75 percent in the last year,

which is pretty remarkable. and also what was the most violent country in the world just 2 years ago. so what i would say about el salvador though, my prediction is watch the hit pieces that now come out about the president of salvador, claiming he's an autocrat, claiming that he is cracking them on the country and terrible wait, i will bet you in the next 6 months to a year, you're going to see one hit piece after another in mainstream media. talk about how terrible this man is on a whole variety of levels because he is messing with the banking system. and for sure, we're out of time because i know we can talk about this for quite a while here. blue bus co, it's been swan and jeffrey tucker. com with with real clear market. thank you so much. thank you. and finally, crypto currently is setting records. once again, and this time it's in miami, the hot real estate market now, according to forbes, a new $5000.00 square foot house sold for 2 point or $22500000.00 in crypto right now the buyer and the type of crypto used are still anonymous,

but this is thought to be the most expensive residential crypto deal in the united states and the most expensive price per square foot miami beach. the new resident will enjoy $360.00 degree view of miami, shoreline and city. the suite also features 4 bedrooms, 4 baths, a wine tasting bar, and a nearly $3000.00 square foot wrap around terrorists. the deal only took 10 days to close with crypto broker, solid block, and that's it for this time, you get blue bus on demand on the brand new portable tv app available on smartphones and tablets. google play and the apple app store by searching portable tv, portable tv can also be downloaded on newer model samsung, smart tvs, as well as roku devices or check it out at portable. that tv will see next time me the ah, is your media a reflection of reality?

the, in a world transformed what will make you feel safer? tyson lation community. are you going the right way or are you being that somewhere? direct? what is truth? what is faith in the world corrupted? you need to defend the join us in the depths will remain in the shallows. ah! we're here in saint petersburg at the international economic form. and the topic of our program is the global economy. how is it changed since coven, for the winter, for the loses? what are the challenges? and what are the opportunities?

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america was in las vegas in 2017. the tragedy a close a little of the real last vegas where many say elected officials are controlled by christina learners. the vegas shooting revealed what? the l v m p. d. really is and now it's part of the spanish sheen, to the american public barely remembers that had happened. that just shows you the power of money and las vegas. the powerful showed that true colors, when the pandemic had the most contagious contagion that we've seen in decades. and then you have a mayor who doesn't care. so here's caroline goodman, offering the lives of the biggest residents to be the control group, to the shiny facade, conceal of deep indifference to the people the vice could have been saved if they were to take an action. absolutely, keep the registering and keep the slot machines doing. they use as a money machine is a huge cash register that is ran by people who don't care about people's lives

being lost. the, the the group of 7 leaders meet for the 1st time since this starts of the demik with vaccines on climate change, high on the agenda. but there's also a focus on russia and china. the my sense of the 12. we have young police officers who by age alone will not be vaccinated. how can not be want? you can police chiefs, raise the alarm over a lack of nations for the force. i made the $5.00 and on the job, the officers of the g 7 summit could become coded super spreaders and in new york, parents declare war on the walk in doctrine nation schools putting up.