of 2021. so let's go ahead and take a deeper look here with blue bus co hosts and crypto analysts bench one and chris the i. chris see many bitcoin mines in south west. china is fish one province, one of the largest crypto currency mining bases were closed as of sunday, local authorities ordered a hall in mining in the region on friday, mid increase nationwide cracked down against crypto currency mining. how much about effect is this having on the price was having quite a big impact, because right now, i mean in the interim, effectively one 3rd of the global crypto network processing power will be suspended in the short term. so chinese companies back that coupon big coin mining pool such as will be finance and, and they've all experienced about a 20 to 24 percent plunge. and the real time hash rates within the past 24 hours. and as a result, transaction and settlement times are more expensive and longer. but again, this is all temporary because we can actually take a look at the on chain data to figure out what's actually going on here. minors are

basically speculators. they hold a lot of bit current on the balance sheets. so if you are a minor in china right now, and you're being told to shut down, what are you going to do? move. and regardless of the scale of your operations, you would like we need cash to finance move, and that's exactly what the on chain story telling us to aggregate flows by minors at the highest level since march of 2020, supporting the theory that the least fell off was by chinese miners having to sell part of their holdings in order to escape this latest wave of enforcement action. it is the most likely scenario because these minors are moving otherwise of operations were just to shudder and not restart. we would also be seeing a flood of 2nd hand mining base and ship the aftermarket as well, which we haven't. so most likely theory is that they're moving elsewhere to more crypto friendly area where there's cheap electricity. so as a result, chinese miners must also form alliances to migrate overseas to other. busy places such as north america, malta, etc. and now ben, there's other news here as the people's bank of china is also pressuring banks and

payment firms, including china, construction bank, an hourly pay, urging them to crack down harder on crypto currently trading. why are they doing that? yeah, well, the goal here is actually utilize the private companies that do a lot of the digital transactions in the country to get them to be a part of this process. so as you mentioned, you know, with a part of that ad thing. icbc also i, c, c, b, they're all part of this, this strategy that says essentially 2 things we want. they want new investment and technology that will make those companies better able to detect cryptic or the transactions. and they also, they being the chinese government one to see more in terms of know your customer regulation being passed and enforced by private tech companies. the other thing that we're seeing is that companies like pay, you're saying that they're going to go a step further than that. they're actually going to specifically look for any merchants on their platform who are involved in any kind of crypto currency transactions. and they will blacklist them as well. so listen what,

what kristi just said about the miners who are moving out of the area. that is absolutely true. i think that's a natural cause and effect here. but you also have a shut down here of anybody who's involved in transactions on any level. and so there's a seems to be a very clear attempt to close them up. why is it happening? so we talked about the what? so how about the why is the why really because of the fact that the p, b o c, the people of china is planning to unveil very soon hear its own digital currency. and the chinese government is working to eliminate competition for that. they want to push out all other competitors so that they really are the only game in town. i think that's a lot of what's happening. and christy, what about that idea that bennett said they're that they're trying to basically make room for their own digital currency? i think that's very sure the chinese authorities normally in line with the global financial regulars tightening up on digital currency trading. apparently to prevent the systemic financial risk and illegal activities. but in reality, like, especially for china,

it's about clamping down on currency control because that's what trying to fear the most massive amount of capital flowing out of china be a big point. and they have no way of controlling and all just when they're about to unveil this digital r b. so it's not a bit coin failure, cracked out on. there is also the extent that been mentioned alibaba on the 10th and who own alley bay and we chat, both of whom got hit with the big spine. so it's a big industry over halting now. get ready for this roll out of the arm. be digital are being which so far is not really gaining any traction at all. because a bloomberg interview found that chinese citizen showed very little interest in switching from mobile payment systems from by ali baba and $0.10. and others openly balk at the idea of a digital r and b, which is programmable, comes with ad hoc expiration date authorities access to real time data on their financial life. so after that, mary lou form response china found that ultimately they need to lay the groundwork for a more forced kind of adoption by basically removing all the other competitors alley

pay, we pay and bitcoin in order to kind of follow citizens into adopting this new digital arm be and now ben, this crack down isn't just hurting bitcoin, other kinds of actually taking a hit as well, including a theory which actually dropped below 2000 dollars again. what do you know there? yeah, it didn't drop other all coins as well. have also draw, look, i think the, the main thing is as bitcoin go so it goes the rest of the market. but, but remember, a theory has gone up at a tremendous rate. even faster rate than big point has gone up this year in terms of its growth. so that's been very positive. and remember a theory of an ether is specifically tagged to smart contractors, a lot of utility that's based on you theory. and so i don't think it's going to go anywhere. it might tip a little bit, it'll come back up pretty quickly. but again, i think there's an important point to all of this conversation, right, which is that we see around the world right now. a lot of countries, and i think the united states will be one of these countries, but china is certainly leading the way on this. there are a lot of countries right now that want to step up and say, look,

we are the authority. we see the interest that people have in digital currency and so we're going to create our own what you have to remember about crypto currency. all of it is that crypto currency represents a transfer of wealth from the top to the people where people are able to expand wealth without the controls of government and central bank authorities. what a digital currency coming from a central bank does, is it re allocates the wealth back to the top. that's what's happening to china. that's what will happen with any central government that tries to impose its own central back currency boom, but co host, encrypt oh, analyst bend swan and christy, you're not going to get it any straighter than right there. thank you so much. thank you. and as more and more restrictions are being lifted, air travel has come back at full speed, but the airlines don't seem to be ready summer, even proactively canceling flights or correspondence side passenger has the full story now, wouldn't spike and travel the demand increase the supply. what happened here?

so brand, there are 2 things that are actually happening right now. the 1st is how fast the airlines are bouncing back. now the borders are once again opening and people are getting vaccinated. then the 2nd is that on expected sergent travel and the lack of manpower to meet the demand. and we're going to look at both right now. so here's a look at how global airlines are doing right now, right? so there is no secret that dependent mich paralyzed vision industry in 2020, and commercial airlines generated only 372 $1000000000.00 in 2020, in revenue. that's down for $166000000000.00 compared to 2019. but if you look at 2021, revenues are already out for $158000000000.00, and we're only in june right now. so the airlines have the potential to match or even surpass 2019 numbers. now, looking at the only us carriers and right now they're scheduled to fly more than

88000000 seats in july. now that's a 20 a 30 to increase from april. now i want to give you comparison over the same 4 month period in 2019 airlines increase the number of seats in the same market by just 9 percent to meet summer demand. so it gives you comparison how it's growing right now. so then you would thing is news, great news for the airlines as well? yes and no in terms of revenue. yes, it's great news, but just how prepared our airlines for the search specially and since more and more international borders opening up every day to give you an example. just this week, the european union recommended adding the us to the list of save countries. would we make it easier for us travelers to either the $27.00 country block this summer, which means more and more travel. but all of these changes require a lot of preparation from the airlines. in fact, airlines generally like to unveil new international destinations sometimes close to

a year in advance. now this long lead time give is government affairs and airport teams time to secure permits and contractors to handle everything from trek in to wheelchair service to fuel on the ground long further 1st flight takes off, but airlines don't have that luxury right now because what 2 months to a year before airlines most now do in a few weeks, especially since airline generate majority of their revenue from summer travel. creating right now, the 1st real opportunity for airlines to make money since pandemic began, which is why airlines are trimming flights to alleviate the potential strains on their operations, i must say the number of flights right now being cancel is relatively small, just about one percent of flights flying in the 1st half of july were cancelled. now that was roughly 950 flights from schedule. but it is a lead,

a sign of how tricky it's been for airlines to scale up after a year of low to no demand and brand airline also expect to face a shortage of pilots in the coming years. as more and more pilots reach retirement age, plus there was the thousands who accepted buyouts and early retirements that airlines are for last year during the pandemic. so manpower has been a huge factor in what's happening right now. there's also the hiring at the se, transportation security administration that's been very, very slow despite the passenger volumes this summer. now thout were laid off to depend them i got to say, but only a few 100 have come back to work. so even if your flight is in council, you might still miss it due to longer than usual. wait times at airports right now, brent inside as we talk about the return of summer travel our neighbors to the north, a travel destination for summer time goers,

canada. they've actually limited some of their restrictions. what's going on there? ne, in fact have canada has some travel restrictions, but only for fully vaccinated canadian citizen and permanent residents crossing that from the us border. now, canadian citizen, a permanent canadian residents, may enter and enter canada without koren gaining after july, 5th, if there are a fully vaccinated, but does it spend, does not apply to the us citizens and resident, traveling to canada. now the current u. s. canada border travel restriction is still currently in place through july 21st. so foreigners still have to wade before traveling to canada. brent or t correspondent, sites have it or thank you so much and time now for a quick break. but when we come back, for an investment in the united states has begin to rally after taking a major hit during the cobra, 1900 pandemic. just on the other side, we look at the figure than what it all mean. as we're going to break here,

the numbers at the close the the ah, no. when i would show the wrong, why don't just don't the rules. yes, to fill out. the thing becomes the after kid and engagement equals the trail. when so many find themselves worlds apart, we choose to look for common ground. the world is full of sharp and they're looking for jumps like mark cuban and the he falls right into it. because as i've said on this show and other shows for over a year,

now narcissism in big point don't mix. ah, is your media a reflection of reality? in a world transformed what will make you feel safer? type relation for community you going the right way or are you being direct? what is true is faith in the world corrupted. you need to this end. the join us in the depths will remain in the shallows. i 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 out. 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, you are. if you're poor you got 2 eyes and 2 ears and one mouth. so you should be seen in here and a whole lot more than you're saying if you don't take that advice, usually going to dig yourself a whole the welcome back. labor and employment ministers of the world's largest economies will

meet in italy this week for the g. 20 forum, and much of the focus will be on the fair treatment of workers in the gig economy. italy is expected to call for tougher rules to protect them as the issue heats up across europe. legal adults, molly, bear with americans. lawyer is here with more. molly, why is italy pushing for this action now? i think it's about timing, like you mentioned, there's already a wave of angst if you will, against some of the violations that are perceived. these issues with how workers are treated in the gig economy, whether they're working for a tech company like amazon, or maybe a food delivery company. it is a whole slew of issues that are very similar and similar complaints are coming up, everything from their conditions to the way they're treated. do they have the same protections as people that were for corporations that do have employment contracts that are more comprehensive, that sort of thing. so italy already has an aggressive stance towards workers' rights. in fact, the g 20 summit has happily happening in sicily this week and it comes on the heels

of, you know, a whole issue, whole range of issues that have already been, you know, making headlines. emotions are high there to brand because the trade unionists was actually killed during a demonstration just recently against job losses at fedex of fedex. their course that's done by the united states. so, you know, trade unions are blaming outsourcing in the use of workforce management algorithms on undermining workers rights. world leaders recognize that there are a lot of challenges and that this is going to be an ongoing issue and that the but it's no excuse to avoid having some uniform employment standards. so i think that's what they're going to talk about a lot during the summer. and how can they address these issues and we know italy is pushing for this, but have we heard from the other nations that they might be willing to take the thought as well? yes, and i think you're seeing a lot of nations that are italy's working with stain on coming up with some comprehensive solutions to basically get organized. this is a developing gig economy, if you will,

but it doesn't mean that they're right should be thrown out. the window is what you're hearing from a lot of advocates and, and labor minister. so, so far a lot of things have been worked out in the court. you know, you saw the trade unions come out ahead and, you know, they, they, they one representation of amazon employees and u. k. you have other, even companies within the u. k that are saying, hey, we do see regulations coming, we're going to go ahead and create some regulations for ourselves. will get public input. it will make recommendations to the government. so it's coming, it's just a matter of what that looks like and how it's addressed. either per company or is it just general regulations that are made to cover all of these companies. but that's the beginning of this process and how they can address that and make those changes that will either be applied individually to companies or as a whole. busy to companies that come in from other countries as well and quickly before we go, how are we expecting this to affect the future of the economy business model in europe as a whole you might say prices go up. i mean, like i said,

a lot of these court decisions that have already been leveled against some of these companies, like, for instance, uber technologies in may, you know, agreed to formally recognize the u. k largest union. so now they're representing their drivers. that's what i was mentioning a minute ago. so, you know, italian prosecutor said, uber eats just the take away dot com, also have to hire their drivers under regular labor contracts. so if the courts don't take care of it, the government certainly are going to do it. they recognize again, this gig economy is not going away. employees like it, there are a lot of flexibility. they like the benefits and the flexibility of it, but they do want to be treated fairly. there are a lot of horror stories that are coming out, especially with some of these delivery drivers. so it's a, they want to address it. it's just finding those solutions, and as it might surprise you, it will take time and lots of discussion, i'm sure. and for those, you don't know, it's much more in europe, much more regulated. how say something like ober works than it is here in the united states. i know in the alone, even the drivers have to go through actual psychological tests as well as driving

tests to make sure that they're capable of driving. i think similar to the way the taxes are there as well. molly barrel of america's lawyer. thank you so much for your time. thanks for and and the united states is poised to be the world's top destination for foreign investment this year, and next, according to projections from the united nation. now in 2020. as the cobra, 1900 pandemic ravaged world economies of the u. s. a. 40 percent drop and investment from overseas. meanwhile, data from the un conference on trade and development said overall overseas investment by businesses around the world fell by nearly a 3rd last year. now the rapid economic recovery in the us with the federal reserve actually projecting a 7 percent growth in g d p. this year is playing a major factor that along with trillions and stimulus measures and trillions more. and if pros, infrastructure plans are making the nation prime for investment. so for more on this and some other economic news of the day that's bringing octavio mirandi,

he's ceo of optimist. l. l c. octavio always a pleasure to have you on the show. now the u. n had actually projected the u. s. with lose the top spot to china in january. but beyond the fact that we just mentioned why the u. s. still the premier destination for foreign investment. why i guess in 2022 actually one. so china did surpassed us in 2020 for the 1st time. so they, the not the us of that have talks about the, for the simple reason the u. s. was more hit by cobra than trying to was, and china was launched open. um and that nasty peered at the beginning and then we'll our re back to normal and in the u. s. link on. so in 2020 the, the u. s. was knocked off the top spot, but that seemed to be a one off. and now the u. s him to be reclaiming his rightful space in that area. i will say in, in china, in general, i mean it's called huge economy. but unlike the u. s. government owned enterprise of cycled state and enterprise, much,

much bigger role than they do in the u. s. and the certain sectors, entire sectors where the state and enterprise is sort of the dominant game. so if you look at things like a v, a sion or utilities or transportation or banking, you can't really get in as, as a phone company. and that's going to hamper the chinese for some time to come. i guess the sumption we've been that they will have a more limited role for the state in the future. but that does not seem to be happening. so they still account for about one course of the countries output, and they seem to be holding study that says not greater liberalization taking place here in china. so you're saying, because despite tensions with the way it's trying to fill is one of the largest investors around the world. and it's 2nd and overseas investments coming into the nation. and as we talked about them eventually becoming the world's number one economy. you know, are they really poise to take over the u. s. in this metric, but you're saying really not so much right. why? i think that us will be back as an i'm one destination for. i mean,

i think so far this year it is. so it's quite true that the us as bounce back in terms of metric, but this is more investment. bassoons in the us, you can invest in any factor you want. you can invest in defense and utilities and energy in time about smell straightforward. and i think there's been some sort of course retails and trying to, of, of people coming to months to the attention of the authorities in this origins stepping in them, taking a bigger cup of the action than they had anticipated. so that's, i think, a bit of uncertainty faced with investments in china. now the chinese certainly of the biggest investors in the world, them and they put this enormous surplus in trade. they have to invest somewhere. and so i don't think that that's going to change. certainly going to be the largest investor, but it's going to be hard for them to fund the largest destination for foreign investment. it's simply a to restrict, to become in the states. and i think that before we go, i want to hit on the state of markets where because the dow surged on monday after its worst week since october of last year. while that's the p thought significant

gains as well. what's pushing markets back up and can we expect this momentum throughout the week in the foreseeable future? well, i guess we'll push the mark is down. last break was the fed coming out on wednesday and saying we're going to raise interest rates. and that of course, moved to market, and that was sort of been a correction that now j pow, at the end of his speech said, well, that's going to be in 2023. so 2 years, maybe we might have 2 hikes in 20 inches high, but take that would be grain of sold as i think the exact words used. so i think the markets are looking at and say, well in 2023 is a long way away. and he's saying take, it would be grand assaults, they might not happen. so if the fed continues to push the montrose of market, so keep you know, what happens for this rest the rest of this week? mean, i think the market is reassessing. what power said last week, and it's basically thing doesn't look so bad. i think it should be ok. so i would expect the balance of things just that the, the mark is going to continue this momentum this week,

at least. and the fed chair is actually going to speak to congress this week as well. so who knows if what he says may have a major impact on markets as well? octavia ramsey of optimist. l. l. c. thank you so much for your insight. thank you . and finally, what the do, if chicken wings are in short, supply causing prices to skyrocket and your in the chicken wing business. well, if you're wingstop, a chain of restaurants, which both nearly $1500.00 locations throughout the united states, apparently you launch a virtual brand called fire stop. and you get that like the company's wings. customers will actually be able to pick one of 11 flavors of their signature sauces for these chicken tie and get them in bone in or boneless varieties during the pandemic when most restaurants are actually forced to only offer delivery and take out options. chicken wings grew in popularity in talking about the spike in prices . wingstop, theo and chairman charlie morrison told c. n and business. the wholesale price of

ways that a year ago was as low as $0.98 today. is that $3.22. so it's a meaningful difference, and that's it for this time you can catch boom bus on demand on portable tv available on smartphones and tablets, google play and apple app store. by searching portable tv, portable tv can also be downloaded on newer model, samsung, smart tv, as well as roku devices. simply check it out at portable dot tv. what's the next time? i'm boom, but me ah .

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in the world corrupted, you need to defend the so join us in the depths. will remain in the shallows. ah ah, in the headlines this campaigners lash out to the close, unfair inclusion of the 1st habit, transgender athlete in an 11 pick a female event, branding it a bit, trail of women, and other stuff in the face were precedent. mecropolis his policy flops in the french regional elections. and the world must choose unity over the division and hatred says president, posted on the 18th anniversary of the start of the great patrick war for russia. ah,

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