cash register that is ran by people who don't care about people's lives being lost in the living room by going business. sure. you can't afford to miss. i'm rachel. one is in washington coming up. the buying and ministration has a new plan to convince other country not to work with china, 5 to technology, but won't be enough to take on walk away. well, this guy was a 17 year long dispute between air bus and boeing is over as the us and you finally agree to a truth on aircraft subsidy. fit coin is taking on the us dollar in el salvador, but isn't it set up for success? and how will the latest crackdowns impact the world's most popular crypto currency?

we have a lot to get to. so let's get started. the longest trade dispute in the history of the world trade organization has finally come to an end. after 17 years, the u. s. and the you have resolve the long standing battle over aircraft subsidies stemming from the dispute between air bus and boeing, our cheese alex mile of it has the story. after nearly 2 decades, things are finally taking off in the right direction. we should not underestimate this is the longest trade dispute in the history of w t o. so it's an our common interest to solve it. and i'm very, i'm very positive and convinced that together we will deliver today and deliver they did a long standing rivalry between 2 of the world's biggest airplane manufacturers, which have been fueled by the u. s. and you government's has halted for the time

being the u. s, and you have agreed to suspend tariffs for 5 years in relation to the boeing air bus battle, which is that fought at the w t o. for 17 years. the rivalry has caused plenty of tension between europe and the us with things heating up during the trump administration. in 2019, the world trade organization gave us the green light to bring in tariffs worth up to $7500000000.00 on products from the u. that was in response to illegal government support of boeing's rival european playmaker air bus. and just last year, the w t o ruled in favor of the european union, concluding that illegal aid was given to jet plane manufacturer. boeing by the us government. the you plan to impose $4000000000.00 in tariffs against the u. s. and action which the block chose to delay until after the 2020 u. s. election. after which point tensions already began to ease those. my remember very well, it started when i got my 1st phone call by president biden in february,

and there we jointly decided to solve this problem. and today i really want to think our negotiating team, the us trade representative catherine, terry, the executive vice president largest on bras, keys that have been instrumental in felice, facilitating a solution today, we can say we have delivered as part of the deal, the european union, and the united states have agreed to provide research and development funding through an open and transparent process. they have also pledged not to give support such as tax breaks to their own companies that would harm the other side. according to us trade representative katherine ty, this deal allows us to start turning the page on this long standing dispute and can be used as a model to resolve future disputes between the 2 political entities. the deal comes at a critical time for the 2 aircraft manufacturers. as the global pandemic continues to harm the air travel industry. boeing and airbus stocks got

a much needed bump from the news for r t. i'm alex mileage. president biden, as in geneva, where he is set to meet with russian, president putin on wednesday, but his focus and talks with nato allies this week has largely been all about china, while biden has notably followed and warmer president trump footsteps on his approach to both the trade war and the increased the us military presence in the south trying to see that's not all. his administration is also taking steps to counter beijing in the competition over 5 g technology. but they're adding a new tactic when it comes to tech giants like wal way and c, t. e, rather than threatening countries against using chinese gear. the u. s. government is now instead offering financial incentives and training for countries and politicians. they say the goal is to teach those countries how to build out 5 g networks without using chinese telecon technology. so is this measure something

that can actually work? well, joining me now to discuss our boom, co host, ben swan and christy i. ben, let's start with you. can you break down exactly what these incentives are that we can be looking forward to? yeah, well essentially we're talking about for an aide right in normally, you know, with for an aide. the u. s. loves to give it away. we love to give it away to the nations around the world that hate us or dislike us, or we give it away and it never gets down to the people who actually need it. and the people on top who are many times corrupt leaders, just keep the money in this case. what it, what it is, is money specifically being given to countries in eastern europe and central america. that would go to buying 5 g technology. on top of that, the usa department is essentially working on a handbook. they say that will help policy makers know what kind of equipment they can buy. basically how to decouple themselves from china. and from that, by g technology, remember that around the world, despite all that, the united states has done to try to slow down one way. the technology that while

way is putting out is far more advanced than nokia. where erickson the next to biggest companies that put together 5 g technology for telecom companies while ways, way ahead of them in terms of advancement, but also with much less expensive. and so essentially what we're doing is us taxpayers is subsidizing the rest of the world to get 5 g technology so that they don't have to buy it from china. and again, the whole idea is to decouple from china, but will it actually work while i wait and see? it's interesting whenever you get to talking about for an a, there never seems to be nearly enough oversight when it comes to these plans that they're throwing out quite literally all around the world. now, christie essentially has been noted the us will be subsidizing 5 g technology for countries in eastern europe and central america under this plan. so how successful do you think this program will actually be? i don't think this program is actually going to be successful because if wanting to lead and help other to deploy 5 g than one would assume that that particular leader

has the most period the most advanced and the most cost efficient 5 g program in its own nation, so how are you supposed to help others to build and adopt when you haven't even done it in your own country? so if you look at it, the world largest 5, g networks are like the read largest training network operators. china mobile china unit, common china, telecom pre is also leader. and it's all right with a k telecom 1st rolling out their deployment in 2018. and since then, their network has and cover the countries most populated areas in claims of the world. first, nationwide, commercial, 5, g network. so if you will moderate 5 g leadership in terms of number of cities, it's available and accessible than china's in the lead. with 341 cities to the u. s . is 279 cities and places like switzerland already has to play 590 percent of its population. china has more 5 g subscribers than the u. s. not just in total, but per capita. it has more 5 g smartphones for sale at lower prices with more

widespread, 5 g coverage. so then if you want to look at 5 g leadership in terms of the average download speeds, then saudi arabia and korea are in the lead with that for 3 megabytes and respectively, compared to the u. s. it, it the point 9 china on the middle of the pack somewhere and their connections are on average faster than that of the us. so no matter how you look at it, the u. s. by the capability or media or not the best. so it kind of doesn't make sense for me why you have a mediocre player taking charge to lead and help subsidize 5 g for other nation when it can even get the cost of its own infrastructure down. so instead of rely on capabilities alone, the u. s. is rely on the strength of the us dollar and government funding to support the agenda, almost like a overzealous college parent making extra donation theater mediocre child into to ivy league like a position that you don't get based on merit. so it would make a lot more sense for china to be leaving the role as its technology is

unquestionably superior, and not to mention at a fraction of the cost of data be. you know, that's really interesting because you would think that the u. s. would be saying choose us because we're the best of the best when it comes to this technology. but instead they just seem to be saying to us because we're not china now. but i know we've talked a lot about these ongoing tensions between the u. s. and china, and we're now learning that raymond james, managing director ad mills, says that he believes tension between the us and china are likely to only worse and under the biden administration, saying quote, this kind of relationship going down a path of great confrontation. so could the relationship between the us and china be headed towards a new cold war? i think in many ways it is headed toward a new cold war, or at least where at the very beginning of a new cold war. certainly look, it's an economic war. i think that essentially what we've done is we've weaponized these markets, right? we've weaponized the market in a way to say,

let's harm china as much as we possibly can to slow down their dominance. certainly slow down their ability to influence other nations around the world. that belt and road initiative from china is very problematic for the united states. and so you have to be able to counter that in some way. the problem is, is that when you and i, by the way, i agree with most of that, i think that most of what the united states is saying about china and trying to slow down their dominance is not necessarily a bad thing. my problem is, you know, is the way we're going about doing it. so, you know, christie use a great analogy, which i will still from her at some point. great analogy right now about the overzealous college parent trying to get their mediocre child right in the university. but, but here's another one for you. the united states is, is the crack addict that can't let go of a dealer, which is china. and yet we're constantly criticizing with either the dealers taking advantage of us, the dealers harming us. they don't care about us. we need to find a way to not use them while then sneaking off in the middle of the night and ask for another hit, because that's how we're living here. we. we love the chief stuff that comes out of china. all the manufacturing is going there. all of our debt is being sold to china

. so what are we actually doing to decouple from china? that's the real question here. and i don't think there's any real answers to this, these green initiatives that are being talked about or nonsense in terms of trying to counter the belt and wrote initiative. so i think the u. s. is biggest problem is should we decouple as much as we can from china? absolutely. but can you do that while remaining dependent on china in so many ways know, and lastly, i don't think we should do it for the purpose of harming china. why harm trying to let china be great and the united states should focus on it being great, but not become great by making someone else weaker. that doesn't make sense to me. yeah, they're taking competition in a whole new form here. now christy, to that point, what does the coupling from china actually look like? and how long of a process would that be for the united states? i mean, it would be a violent decoupling for the market because the u. s. is so heavily intertwined with china and dependent, not only for growth, but also for capital investments and trade. the both china and the years are

heavily interdependent with each other. most products are manufactured in china. so, especially during the cold pandemic, resorted for paper towels. medical supplied, cleaner chair products, all consumer staple products are made in china, p and g and american company. they spent hundreds of millions of dollars building up their factories in supply chain like over the past couple of decades to manufacturer stuff off shores, cheaper. so to have a yield, the coupling would be hugely problematic and cost american companies, hundreds of millions and losses eventually or pass down to the consumer. i don't even think that's going to be feasible, especially when the american economy is already struggling to find any sources of avenue for additional growth. basically, we see you're getting flight off the top market cost for all of these large multinational companies. and we will basically be taking a giant that back 5 years. excellent, pointing and center here, and i think no one breaks the complex topics down quite like the 2 of you do. and so on, christie,

i thank you both so much for your time. as inflation continues to rise in the us, the latest report from the labor department shows that producer prices climb 6.6 percent in may alone, marking the largest annual increase on record at the same time consumer spending on retail with down 1.3 percent. despite only point 6 percent being expected, americans reduce spending on cars, furniture electronics, and building materials has locked down through lifted and they turn to spending on services instead. so joining me now to go further in depth on this topic is octavia marines. the ceo of openness, i'll see now octavio in the last year. producer prices have now risen at their fastest rate and over a decade. does this come as a surprise and how big of a role have supply chain shortage is played in those numbers? well, i think it comes as no surprise at all. i wouldn't necessarily blame supply chain

shortages, but it is interesting if you look across producer prices, commodities, energy, almost everything is up. this is very hard to find a commodity that has not gone up in price and that's right across the board. and i think in individual cases, people do try and blame some sort of pick up and supply chain for individual products, individual commodities. and that might make sense, but it doesn't explain why you see this kind of price increases, right across the board across every commodity across every produce a price. so i think that's the real question. why is that happening? and i think it comes down to monetary policy more than anything else is the amount of money that's been pumped into the markets is coming back to haunt us in the form of inflation. i think it's that straightforward. yeah, there truly is a lot of really a historic amount of money that has been pumped into the market even just over the last year. and at the same time, we're watching consumers who saved their money and stocked up on goods during the pandemic. well, now they're spending, but they're also doing so on services of walk downs are lifted is just the next

step in the overall recovery. what i think certainly we saw during the lockdown was remarkable in terms of how much the us consume was able to favor for the site. i mean, the u. s. consumer has a reputation for being not exactly the best save in the world. and they've turned around completely and was saving over 20 percent of their income, which is quite nick, story transformation. now of course as a sort of start to feel more confident and better, they're going to thought to spend that money. that's what we're seeing. so that's going to add as well, and in big increase in demand as people say, things look like they're back to normal, arkansas to spend some of this money. at the same time, i think there's also a pent up demand to lend more amongst us bank. so us banks have basically become a wash and deposits of their consumers and customers have come in and deposit in their accounts. and the banks have been somewhat relaxed about lending that out of curtail some of the lending programs. that ticket, things like credit cards and things of that sort. so i think we're going to see a pickup in that, and that's going to pump more money into the economy as well. i will see the

increase in demand there as a result of that kind of lending activity, taking off again and part of us banks. and i'll certainly be interesting to see how that plays out. now, as you mentioned, we continue seeing increasing inflation and the federal reserve continues to claim it will only be transitory. so are we likely to hear anything different from chairman powell as he wraps up this week's meeting on wednesday? well, so far his, his talk has been a bit underwhelming in terms what he plans to do about this. this rationing up of inflation is basically announced that they can stop or unwind the corporate bond buying program where they bought about $1514000000000.00 worth of bonds. and so they're going to start to sell those. but that's a bit like a heavy smoker who smokes for his cigarettes a day saying to i'm going to come back at 39. it's not even 39, it's 39 and a half and not this week, but next week. and so that's, that's basically the situation where in where the fed is talking about talking

about cutting back in terms with bon purchases and whining this. i didn't see that coming anytime soon. jay towel has been sort of burned by this in the past. when he became chairman of the fed, the fed was actually going through a racking of industries they were actually trying to contain money supply bit. and what happened is the equity market crated. so he's been chastened by that experience, and i don't think you necessarily wants to repeat that. he's going to get a lot of irate phone calls from some of the large banks and trading houses. if you, if you really sort of craters of the market. so he's, he's stuck a bit in terms of where he stands. i don't see an easy way out for me. if you raises the interest rates and sales money, supply markets will crash. if he doesn't do it, inflation will take with us. those are 2 choices. he has and it's between a rock and a hard place. it's very, very unpleasant place to beat them. certainly in that way. and we watch the federal reserve for themselves right up to that point. great insight, as though is octavia ramsey. thank you so much for your time time now for

a quick break, but when we come back, one of the largest provinces for bitcoin mining in china is facing a renewed craft down. so how will it have an impact on the world's most popular crypto currency? we'll discuss next, and as we go to break, here are the numbers at the close. the me i the who's

ah, phoenix has actually got to come and face men's, clothing and shoulder stuck. it's a kind of gun feminism. its name is how camino above put a human level. some of the whole model that of us is, was a little of up up on the job. but you know, the ones that she lives in, one of the most dangerous and patriarchal provinces of afghanistan cost lacy, which time i'm not sure when i shall do the average that updates on but yet that

i've got enough that she does her best to fight for women's rights. i am awesome. how does that look good? when you get that done, as you know what i do, i know that she's here by her nickname, the king. the other the other guy was really good. monday i we are in miami for big boy, 4041, back to safety. we're at the 1st floor conference in progress. 2011. there were about 40 or 50 people there. here in miami, we got 12000 tickets, all the router, some estimates what a 45000 mat out. sick want to get set to go global,

take over the global economy and put all the circle back out of business. the the world's most popular curve, no currency has stayed around 40000 this week. as bitcoin becomes an approved a legal tender, and all salvador faces continue criticism in china. and of course, is the subject avenue comment or 2 from you on much to the cash flow stream back in, bu must co host an crypto analyst been swan. now, ben, let's start with the latest. i'm bitcoin as a legal tender. we're seeing that all salvador is being seen as a testing ground right now. but we keep seeing report saying that cash is still king and the latest legislation won't be enough to push out the dollar's influence

on the country. is that a legitimate concern? and society continues to become more digital and caches use less and less well. yeah, cash is use less and less. but i think when you say cash is king, what does that translate into? it also translates into credit cards that are based in the us dollar payment services and digital payment services that don't represent crypto currency, but they do represent us dollars in some way. right? so if i go in and use a debit card, that's still in theory, promote the idea of the cash is king. i think there is truth to the idea. i'd love to el salvador is trying something unique in the world. i applaud what they're doing. you and i have talked about this, it is of extreme value, i believe, for countries to treat bitcoin and other crypto currency, as well as legal tinder treated as a currency because that's what it is. it's crypto currency, it's on a crypto acid. having said that, it's going to take a lot of time to get to the point where big coin has enough influence that it's predominantly used in any, in any location, especially a place like el salvador. but what it does do is it gives, as i've said before,

a great testing ground because of the fact that the us dollar is the currency that is use it now. so what are they don't have their own currency, they use us dollars there. so it almost becomes like if you could take a little tiny, impoverish state in the united states and you could set a bit coin there at the essentially what else over to where is doing already using us dollars? can we begin to make it translate? lastly, i'd say that it's difficult because big coin is a very poor crypto currency in terms of making payments. so if i go into a supermarket and i want to buy, you know, a couple of bottles of coca cola or whatever it might be. and i want to buy that and use bitcoin for it right now. that transaction takes far too long. now there's a 2 layer protocol called the lightning network which can help to speed that up. it does make things faster, but it's a long process. so there are better crypto currencies that would be more suited for day to day merchants. hopefully that will be the next thing they adopt and they'll stop or open it up to other crypt of. yeah, i know that's a conversation we've had here on the show to was talking about how obviously there

are more crypto currencies than just bitcoin. yeah, bitcoin gets all the attention then of course also gets all the criticism. now speaking about some of that criticism, we also have you on mass q, we seem to have something to say about bitcoin. but now he's claiming that tesla will except the crypto currency. as long as at least 50 percent of crypto is mind with what he calls it, clean energy. is that something that's even possible to figure out or is this just another case where he wants to make a comment on bitcoin? essentially another another case of e long being e long. right? yeah. i like eli up like a lot of things that he does. i think when it comes to this issue, he's just acting ridiculous, right? a one day he's against one day. he's for it when they will accept it now who accepted them. it's if it's half of its mind with clean energy and how would you even know that this and there is a real case to be made for energy. and the reality is this. if you have big coin or any other crypto currency in its being mine, you can mine it in ways,

i guess where the, the crypto is dirty because it's using too much energy. you can also money them very clean way. but all this talk is kind of ridiculous. if you look at the amount of energy that's used for the banking system in the united states, and you compare that to bitcoin, it's not even close. the banking system uses vastly more energy. and yet there's no criticisms of that. and by the way, bank is not the only thing. there are tons of other other issues, including by the way, television sets, what people are watching us on right now. he's far more energy in the united states . them bitcoin does, and yet nobody seems to want to criticize. it certainly seems that way. now when it comes to these fluctuations as far as bit coins, price go, i mean, where do you see that going from your i know there's analysts that say that could skyrocket up or crashed down and what's having the most impact on it. i honestly believe it's going to come down a little bit more and i think that's a lot of it's institutional investors who wants to continue buying. we see this tree and happen where the price will go up. people jump in and start buying that.

all of a sudden falls and people get scared and they get out and when they do, who comes in and starts buying again, it's the institutional investors who want to come in and buy a low or level get a better price and they bring the price back up again, and they're also taking profits at the top. and so this whole diamond hands concept, right, where there are certain people who hold their crypto and never want to let it go. those are not the institutional investors and fun. thank you so much for your timeline. insight on this one will continue to follow exactly where a bit going goes. the one very wealthy person has decided that $28000000.00 is worth flying to space with jeff phase. last month there's a blue origin announce the auction for its 1st cru flight, which will feature jeff and his brother mark bay. those. after getting through the phases that 7600 people from 159 country they registered to bid for the open sea. the $28000000.00 will go towards blue origin club for the

future foundation, which helps promote stem careers. but we won't know the identity of the winning bidder for a few more weeks. in the meantime, they will prepare for the flight, which is scheduled for july 20th with another yet to be named crew member. what an experience that'll be all for now you can catch boom, best on demand by downloading the portable tv out for your apple or android device . we'll see you here next time. and as always, don't forget to question more me one of the worst in nash shootings in 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 stand machine to the american public barely

remember that 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 vegas residence to be the control group. to the shiny facades conceal a deep indifference to the people. buyers could have been saved if they would take an action. absolutely keep the registering slot machines doing this is a money machine is a huge cash register that is ran by people who don't care about people's lives being lost. these are the 4 people who pulled the trigger. survive something on survival. one of the hardest things that i had, the face was not having a face at

a low expectation that i accepted the accept the fact that i made that appointment . we had no fears. don't change pretty fast for shots. different stories behind the bullets. always be polite, never engage with an aggravated or confrontational office. don't get into any conversation to start answering questions. just ask for an attorney to survive and interrogation, you've gotta be ready to stand your ground. definitely don't want to be going to throw in the jump suit one cups. you're more likely to walk free if you're rich and guilty your if you're poor and you got 2 eyes and 2 ears and one mouth. so you should be seeing and hear and a whole lot more than you're saying if you don't take that advice,

usually going to dig yourself before the job and arrives in geneva for a summit with the russian president call vitamin put in a worthy adversary. but avoid giving a direct answer as to whether or not he still thinks the russian leader is a killer president. putin is expected in geneva, early on wednesday to discuss election interference, cyber attack and the military build. up ahead of the talks, the russian delegation appeared and israel's new government faces its 1st major as air strikes, rock gods after incendiary balloons are launched from the inter, according headlines.