oh, the geopolitical game, as it's called, sometimes rest upon the foundation, us dollars, privacy, us dollar, a world reserve current. now you've got a major brush to the outside of the dollar. that gives them a way to maneuver in a way that no other country can all other countries or any late in the end of the ability to maneuver outside the dollar. it's an incredible freedom that they now have nor stream to being completed, bypassing ukraine, delivering energy directly from russia to germany, is just the 1st of many, many, many. when these are the 4 people who pulled the trigger, survive something and survive football. one of the hardest things that i had,

the face was not having a face at a low expectation that accepted accept the fact that i made that we had no fears. del change pretty fast. 4 shots, different stories behind the bullets, the living room by going vision show 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 70 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 set up for success. and how will the latest profound 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 sending 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 e. u government's has been 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 at bought at the w t o. ready for 17 years, the rivalry has caused plenty of tension between europe in the us, with things heating up during the trump administration. in 2019, the world trade organization gave us the greenlight 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 govern,

that you planned 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 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 catherine tie. 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. the 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 with? 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 us loves to give it away. we love to give it away to 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 did the couple 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 was 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? what wait and see. yeah, 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 5 g network are like the re largest training network operators. china mobile china unit, common china, telecom, south pri, 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 expanded to 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 when china is in the lead, with 341 cities to the u. s. as 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, that saudi arabia and korea are in the leave with that. for 3 megabytes 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. s 5 g capability are mediocre, 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 i really 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 a technology is unquestionably superior, and not to mention at a fraction of cost of data. but 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 than under the biking and ministration. 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 belton wrote 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 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 the either the dealers taking advantage of us, the dealer is harming that. 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 belton road initiative. so i think the us 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 hit that point. what does decoupling 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 supplies, cleaner chair products, all consumer staple products are made in china, p and g and american companies. they spend 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 neil, the coupling would be hugely problematic and cost american companies, hundreds of millions and losses would eventually be 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 agony and for additional growth. basically, we've seen getting wiped off the top market cost for all of these large

multinational companies. and we will basically be taking a giant that back 5 years, actually 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 is come to the 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 off. this. it's 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 a hiccup in supply chain. individual products, individual commodities. and that might make sense. but it doesn't explain why you see these kinds 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 down their lifted. is this just the next step in the overall recovery? well, i think suddenly we saw during the lockdown was remarkable in terms of how much the us consume was able to save and put aside. i mean, the u. s. consumer has a reputation for being, not exactly the best saver in the world, and they've turned around completely and saving over 20 percent of their income, which is quite an extra re transformation. now, of course, as a sort of start to feel more confident and better, they're going to thought to spend that money and that's what we're seeing. so that's going to add, as well as being big increase in demand as people say, things look like backs normal, our consult 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 deposit in our

accounts. and the banks have been somewhat relaxed about lending that out of curtailed some of the lending programs. that ticket, things like credit cards and things about 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 an increase in demand there as a result of that kind of lending activity, taking off again and on the 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 reclaim. it will only be transitory. so are we likely to hear anything different from chairman powell as you wrapped 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 cut back that says she 9. it's not even 3939 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 of its 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 arresting of industry. they were actually trying to curtail money supply bit. and what happened is the equity market crated. so he's been chasing by that experience, and i don't think he necessarily wants to repeat that. he's going to get a lot of phone calls from some of the large banks and trading houses. if you, if you really sort of crazy as 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 coach, house 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 work themselves right up to that point. great insight as though is octavia renzi. thank you so much for your time. the 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 clothes, shoes. ah, well, the make no, certainly no borders and the number t's as

emerge. we don't have authority, we go to the back seen world leads to take action and be ready. people are judge governors crisis. we can do better, we should be better. everyone is contributing each in her own way. but we also know that this crisis will not go on forever. the challenges to response has been massive. so many good people are helping us. it makes it feel very proud that we are together in towards the summit to bite the ministration pushed for a summit with russia. moscow agreed what the bite and people hope to achieve remains unclear. we are told the white house wants to restore predictability and

stability. what could possibly go wrong? me? one of the worst of a mass shootings in america was in las vegas in 2017 tragedy a close a little of the real last vegas. where many say elected officials are controlled by christina learners. the dangerous shooting revealed what? the l v m p d really is. and now it's part of the machine to the american public barely remember that happens just shows you the power of money and las vegas. the powerful showed their true colors when the pen demik had the most contagious contagion that we've seen in decades. and then you have a mayor who doesn't care to. 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 vice gonna be saved if they were to take an

action. absolutely, keep the registering and keep the 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. the the world's most popular crypto currency has stayed around 40000 this week as the coin becomes an approved a legal tender. and all salvador faces continue criticism in china. and of course, is the subject avenue common or to from you on mosques to the cash flow stream back in, boom, co host, an crypto analysts ban swan. now then let's start with the latest bitcoin as a legal hender or 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 dollars 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 used less than less, but i think when you say cash is king, what does that translate into? it translates into credit cards that are based on 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, promotes 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 asset. 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 used. and also 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 big coin there as essentially what else over doors 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, 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 in el salvador. open it up to other crypto. 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 and jose bitcoin, but yet 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 keowee, seem to have something to say about bitcoin. but now he is claiming that tesla will except the crypto currency. as long as at least 50 percent of crypto is mind with what he calls a clean energy. is that something that's even possible to figure out, or is it just another case where he wants to make a comment on bitcoin eventually? another another case with you on being e lawn, right? yeah. listen, i like you 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 when they accept it, now he'll accept it. if it's, if it's half of it to 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 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. i mean there are tons of other other issues, including by the way, television sets, what people are watching us on right now use far more energy in the united states. them bitcoin does, and yet nobody seems to want to criticize that certainly seems that way. now, when it comes to these fluctuations as far as bitcoin price go, i mean, where do you see that going from? you know, there's analysts that say that can skyrocket up or crash 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 happen where the price will go up, people jump in and start buying it. all of

a sudden the 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 it a lot 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 on. thank you so much for your timeline. insight on this one will continue to follow exactly where bit calling goes. 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's 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 ah ah, with

when i would show the wrong. why don't i just don't the rule. yes to shape out the same because the after kid and engagement equals the trail. when so many find themselves will depart and we choose to look for common ground driven adrian shaped by those in me who dares

thing? we dare to ask me. ah, headlining right now, the eyes of the world are on a villa in geneva. well, joe biden ability may put in a holding the 1st some as, as, as camera crews scramble to get close to the action, tempers start to flag over. there you go away. please move on. a handshake between the russian and american presidents begins a highly anticipated encounter with everything from nuclear arms control to cyber warfare. on that agenda will keep bringing you all the action live from the venue in switzerland, in just a moment. is russia us relations are rock ball so but insults fly the media painting the talks of the past.