the, the the the, the, the, the, the, the will say on their show is ticking and you've got global hash war because they cost countries are now competing to accumulate the most they point is part of the game theory that's built into the incentive stack. that is the magic of bitcoin and was unpredictable who exactly would take the 1st step and we had talked about possibly japan, possibly around. possibly. russia turns out that nel,

salvador is taking the 1st step toward a big point standard making bitcoin legal standard. the this is, boom, bought the one business. so you can coordinate bridge a bar in washington coming up the central bank warren crypto currency. it's heating up while several investors have away and that emerging pin fact sure that we bring you up to speed on the keep it rivalry, plus the e. you an updated list of countries approved for travelers entering the block. we'll take a look at the move as the term summer travel see then wrap up. and a shocking report shows a pandemic has bred millions of millionaires. later on we have some few analysis on

the issue for pac showed the flip side. right in and quinn has been put on blast by the bank of international settlements. a new report simply eviscerate the world's largest crypto currency. and in fact, all other crypto currencies as well. that report claims bitcoin is a speculative asset, rather than a currency is often used for crime, such as money laundering and waste energy. something we've heard time and time again. now bitcoin has few redeeming public interest attributes to be said on wednesday in a chapter of its annual economic report to be asked is an international organization that kind of acts as the central bank for central banks and ames to foster global financial cooperation. meanwhile, bitcoin has had a wild 24 hours where the curtain dropped below $30000.00 for a short time before jumping back up to around $34000.00. let's bring in boom bus, co hosts and crypto handling bend, swan and christiane. to respond to these stories and more. christy,

i want to start with you. can you break down what has been happening with bitcoin price over these last 24 hours or quite a lot has happened in the last 24 hours. there's been quite a lot of volatility when, especially when the 30000 level broke. now that was a key key, technical support level of resistance for big quiet. and right now you had and breaking 30000 was basically like having a damn break. so as soon as that broke, they're going to plunge down to 28, but that as soon as they plunged 28, then you see a wave of dip buyers coming in, pushing back quite back up about 18 percent for the day. so even though it felt red fell red briefly for the year, they went quickly rallied up to about 345 in the afternoon, sweeping the rest of the all coins along with it. so i think that right now, this line of this line at 30000 is a line in the sand, is very reminiscent of the 4000 dollar line back in 20192020. when bitcoin just

kept on trading sideways around that $4000.00 mark, not breaking it, breaking it a couple times in order to test the strength of the support, but every single time bouncing off of it. so i think we're going to see a lot of sideways trading for a couple months here as we consolidate at this level before either breaking to the upside or downside. it's kind of crazy to think that we are now looking at 30000 as the low when after a long period of time breaking 20000 was that mark that you were looking for it to go up. so it's kind of crazy that where we are right now. now ben, i want to move to those claims by the bank of international sentiment. they bring up many of the common complaints. we hear about crypto that is used for money laundering. ransomware attacked waste energy, but it does seem like we're hearing these complaints more often. are we not? well, we're here in the more often i think for exactly one simple reason. and that is, is that you have all these central banks that are terrified of the actual impacts that crypto currencies like bitcoin will have on the financial market. then on the

banking industry. remember if we go back a decade ago, because was created to up in the banking industry, so who right now was making the most noise? central reserves, the central banks, the federal reserve bank, the former fed chairman, janet yell and who's now the treasury secretary. and now the bank of settlements is also making payments. and as we mentioned, we've heard all this stuff before it's used for ransomware. of course, they ignore the fact that ransomware actually predates crypto, which means that dollars and other currencies were previously used in ransomware or they say, you know, this thing is, is. ready bad for the environment that such a ridiculous argument. i talked about this a couple of weeks ago, but i just want to mention it again. so what we're talking about, how many kara, what ours that bitcoin uses as a mining network, it uses about $113.00 to tara water hours every single year, annually. if you compare that to the banking industry, the banking industry uses $260.00 tara watt hours annually. what's the comparison here? that means that the banking industry uses double the energy almost as bitcoin. so

if you're going to make the claim that big was bad for the environment because of the amount of energy uses and you don't recognize the banking industry using far more than you're just disingenuous, you're just a liar. and that's how i, i see these, these arguments that are being made. but if you repeat a lie long enough, as you know, bridge at some point it becomes the true. and there's a lot there that obviously we don't have time for show. but, but you know, i mean you hear that conversation over and over again. well, bitcoin use it more power than the whole country of argentina, but like you just said while then it. and so does the banking industry. so what's the difference here? christy only 10 percent of institutional investment firms actually surveyed by j. p . morgan trade crypto currencies with nearly half labeling the merging asset class as quote, poison or predicting it would be a temporary fad. what do you make of that? well, i think that's funny because if you want to call back when a fad that basically like stick your head in the sand and saying that the sky is black because 1st of all, i think to call something

a fad. that's just something is temporary and fads have very quick boom bus cycle. and when they bus, you pretty much never see them again. big coin now in its entirety. over a decade long existence has had several boom busts in a cycle. and every single time big coin has always recovered better and stronger than ever because it is the real deal. it's just in every single cycle, there's this massive hyphen speculation where you have a lot of very eager people getting into it and pumping the price up and getting a little too ahead of itself and therefore needs to come back down to reality for now. secondly, the people who are staying this, they're hedge funds and headphones who are saying that it's rat poison. they're probably saying that just to cover their own hide because their job is a portfolio manager and ask the manager and a traitor and their full job is to create returns b, p. s, and p. that's their only job to do to use their so called amazing wall street ackerman to try to deliver these outstanding performance refund ever yield every

single year. and right now they have the answer to the l. p. 's on why they had missed literally the best trade of the decade. because in 2020 you literally had bitcoin over for ex thing over the entire year when all the other costs were pretty much down. then you had a serial which pretty much 6 ext throughout the entire year. so basically all these wall street traders, they're getting out and done out played by basically a couple of tech geeks who are just holding big quinn, holding ease and not trading or doing anything. all you had to do with hold these assets and you literally stick extra money at the end of the year. so basically calling a temporary and colleague rapp poisoning. it's a lot of wall street guys tried to justify why they didn't hop on the trend early enough to their l. p. 's who are very right now. missing out on basically the trade of a decade and been going back to the bank of international settlements. it says that it is against crypto currency. it has given its full backing to the development of

central bank digital currency. something we've talked about a lot of the show thing there needed to modernize financing. sure big tech does not take control of money. that seems a bit counterintuitive to their previous subjects. it does it, it absolutely listen. listen to that thought, right, they se cbt things are good, right? central bank, back and digital currency. those are going to be great because we don't want to be left behind the technology and then out of the say, other side of your mouth, just the big one and all of the crypto currencies are terrible. they're terrible for the environment. let me ask you this, why would a central bank, digital currency be better for the environment than bitcoin? is it still a digital currency, which still has to be mind electronically? so, so how is this the biggest settlements, assuming that one is better than the other in terms of ransomware? so now that you go to a central bank back digital currency that can't be used for ransomware. yeah, of course it can be. so the idea that they're saying on one side, all these triple current, these are bad,

digital currencies for central banks are good because that's the future that goes back to the statement cuz he just made it's the same argument, right? hedge fund managers don't like big coin because they got left behind. they didn't get on it when they should have simultaneously. central banks don't like it because they're also behind. they want to eliminate competition. and i think any reasonable person listening and watching this would recognize, even if you're not a fan of bitcoin, these people are completely disingenuous when they bring up their criticism. again, as we've talked about crypto in recent weeks, this is straight talk from boom bus, spend swan and christie. i thank you both for your time. if you're in the united states, congress could be closer than ever to taking action against big tech, but their targets aren't going down without a fight. lobbying efforts have gone all the way to the top with apple ceo, tim cook, reportedly putting in a direct phone call to house speaker nancy pelosi to warn, to warn her against supporting legislation. he says, what hurt both his company and his country customers. and it's not just cook as the

report notes, quote, executives, lobbyist, and more than a dozen. think tanks and advocacy groups paid by tech companies have swarmed capital offices, called and emailed law makers and their staff members and written letters arguing there will be dire quan consequences for the industry and the country if the ideas become law. now, following the 16 month investigation, the house judiciary committee proposed new anti trust legislation that would give the d o j and the f d. c. the power to break up big companies for the sites like google and amazon stop giving their product preference over rivals in search results. black companies like facebook from acquiring direct competitors like instagram increase in mergers and filing fees and allow users to take their data with them when switching platforms. now despite all of this pressure, lawmakers like nancy pelosi have yet to back down and pack your bags. because starting with the american travelers will be permitted to travel to europe. this

comes after the you updated it's list of approved countries allowed entry to the black, 27 member states and the us. well, it made the cut. that means that us tourists should be allowed to travel to europe, even if they are backdated, as long as they're able to show a negative cobra, 1910. for more on this, let's bring in our tea, corresponded to avager science brand. that's exactly right. if you've been waiting to travel to any of the use 27 member countries, now is the time now this came after the european council recommended that all 27 member nations live to travel restrictions for the following countries. take a look, but there's always a bud before you get on a plane. be aware that there may be catches, in fact, there are 27 different combinations of them because the e u is not required or even obligated to follow this recommendation. so be sure to read the fine print. now this includes what nationalities to admit, whether they require

a rapid test upon arrival and whether quarantine is even mandatory. now, the lifting of the travel band only applies to americans entering europe and not the other way around because the u. s. government has not yet lifted its travel band by europeans, and it is a very touch point brand. so while the european tourism sector is eagerly anticipating the return of americans, which is their most profitable customers outside of the u, the u. s. on the other hand, will continue to be hurt by a lack of tourism. so sorry. what if you're traveling to the you from a country that is categorized as high risk as or you like from the u. k. for instance, i have great questions or if you're coming to the, from the u. k or even india. now they're both considered to be on the list of their dangerous virus. very, an area strick measures will continue to be affect. now both to u. k. india are currently place on the use list that must quarantine before days

and not permitted to end their quarantine even if there are fully vaccinated. so again, read the fine print because you can get very confusing. like, for example, spain decided to eliminate the entry requirements for all vaccinated travelers. now, britton's, that included britons, but spain remains on u. k is amber live, which means that travellers coming from there still have to undergo quarantine and test the requirements upon return to the u. k, now this will really heard europe, centuries of a sector, specially for spain, where the british make a one 3rd of their total tourism traffic. so again, i can says is enough. you have to read the fine print inside. let's bring it back to the united states a little bit. you know, is there any news on the us opening it borders more to more and travelers? well, so while europe is officially opened to americans,

the u. s. is not returning favor. now take a look at this list travelers from europe as well as the u. k. china, iran, india, and brazil are all prohibited from entering the u. s. within 14 days of leaving any of these destinations now. those traveling from restricted countries will hold a green card or are an american citizens are allowed to enter the us with a negative cove in 1900 deaths taken within 2 days of traveling. but everyone else, however, is barred from entry. now this also includes visa. 8 holders who live work and pay taxes in the us. now this measure has been in place since the beginning of the pandemic and has yet to be revised, even as rates of transmission has dropped in the e u. and as we see large parts of the us population as been vaccinated, so as things stand right now, the rationale behind maintaining the restriction list is rather unclear. brent

archie correspond size. tabitha? thank you so much. had time now for a quick break, but when we come back, the millionaire club has grown over the past year despite the cobra 1900 hand demik and the economic fall out. just on the other side of the break, we're going to take a look. and here are the numbers at the close. the . ah, whitney thing, a very disturbing media trend, serving an ideology and scoring political points. trump's informing citizens, we had the rush gate hoax, the impeachment hoax, and the suppression of any debate on the origin of colbert, now front and center is the capitol hill, ryan. what goes f b? i know it's fun. eagle

peanut need budget. do you have the target? but again, jack in john's island is died. i might have to go to the deal, but the most the most difficult to find the but there are 410 days right? on the bank of guns based water chemical lives and has out this is going to develop a new to mon, their international market that these industries falutin, you're simply ignored in one days, the mother of them. and when we logged the mother of them, that means we lost the in the,

the doing the breathing technique and then take a pool in here and read it to me. no, no, it goes back to the bridge that need to be reached. they were just the diamond fields rec tomorrow. the dragon agreed a vision. she gave me the welcome back. as the over 19 pandemic re havoc on the world's economy. a new credit suisse report shows 2020 wasn't so bad for the wealthiest among us with roughly

5200000 people becoming millionaires in 2020. that of course in us dollars. now the annual credit suisse global wealth report details how interest rate cuts by central banks and a huge influx of government. stimulus spending disproportionately benefited those at the top. now, for the 1st time in history, more than one percent of the global population is now a millionaire. and those worth more than $50000000.00 grew by more than a quarter. the united states led a new millionaires followed by germany, australia, and japan. and unsurprisingly, the wealth gap wide and throughout the year as roughly 55 percent of adults now hold less than $10000.00 in assets according to the same report. so there's a lot to discuss here and to do so, let's bring in professor richard wolf is the host of economic update and author of the sick. that is the system when capitalism fails to save us from pandemic, se or itself again, professor wolf. i feel like sometimes we could you these segments and it feels like

that title of that book just really speaks directly to the conversation. so what do you make of this data? did the pandemic just increase the momentum of all that money? moving to the top? absolutely. and if ever a system deserves the label stick. and of course that book was written before. all of this happened. it's that book. i feel like one of those folks who keep saying i told you so nobody wants to hear it, but i told you so i'm not the only one that say the truth. but let's, let's look at it started where i'm going to use the united states as my example, but i could of use all those other countries. you just listed over the last 16 months. over $85000000.00 americans had to file for unemployment compensation somewhere only unemployed. a few weeks someone employed the entire 16 months. but that's more than have to be american. labor force. more than one out of

every 2 american workers went unemployed for a certain period of time. and if you know what that means, you know that their income situation, if they had any savings, they use them. if they had any way of hoping they struggled to do it, their situation got worse. now they could have been helped. they could have been helped a great deal more than they were. but instead, what the governments of the world did was money into the drop those interest rates and all that money that could be cheaply borrowed. went right to the stock market. it enjoyed a tastic ride up the inflation if you like, stock prices and remember 10 percent of the american people own 80 percent of the stock. there's your answer, the way that they coped with this cold. the disaster was tar hurt the mass of

people and build up the people who needed it least because they were already very wealthy people. they just became more. there is no justification for a system that works this way. normally let alone at a time of a pandemic that threat these every one. and now this report also states that quote, the rise and wealth inequality was likely not caused by the pandemic itself, nor direct economic impact, but was instead a consequence of those actions. as he mentioned undertaken to medicaid its impact primarily lower interest rate. now i want to go back to the point that you made just based on this because you say 10 percent of the population owns 80 percent of the stock. why are these poor people? why are they just take advantage of this and put in their body in the stock market professor? well, they don't have the money. i believe they had it. they would be doing that because

that's what people who have money either figure out on their own or go to someone and explain to them. that's where wealthy people put their money that wealthy enough. they don't just have a car or a house or the other things that people with a little bit can afford. but if you have real well, if you are a 1000000 there, etc, then you begin to put more and more and more of your wealth in the stock market show you love the hand demik. it's correct. as you say, brands, this kind of thing, the quality was building long before the panoramic game, but the pandemic could have been and should have been a wake up call that we don't just say we're all in this together, but we act it out. we didn't, we allowed the pandemic to actually accelerate the in the quality that was already there. and i think if i may be daring enough to predict that we will look back on

this period of time with enormous regrets and having allowed this difficult moment in history to worse than the underlying any quality that peeks at us as a society professor. well, to, to your point about how these people, these lower income people, they don't have assets, like i mentioned in the intro, they're 55 percent of adults worldwide. that is to say, hold less than $10000.00 in assets. that means, as you said, no home, no security is no savings, that's all assets guys. so how big of a concern is that? because when you look at people and you know, i'm getting to an age where i start to have to look towards my retirement. and these people, you have less than $10000.00 in and even just property. i mean, how concerning is that? it is so concerning the even the house of representatives in the united states

today as we are speaking, holding hearings on the retirement financial catastrophe. coming down the road. we have tens of millions of americans who cannot live on social security and has no additional assets sufficient to begin to live a decent life. and again, talk about a sickness of a system. what kind of respect is it to our people to say that after a lifetime of work, when you have a few years left and you want to live in some decent way in, quote unquote re i am. and this system is making it impossible for you to do so. we have cut the pension supports in this country. social security is 30 percent less valuable in terms of what you can afford if you get it, then it was of the year, 2000. i mean, the number is a staggering and we're facing a worsening of what was already a bad situation. look for me and for many looking

a fee, and i did states, particularly from the outside. this seems to be an economy floundering. losing is very, it's not just a nice seemed to be able to do these things better than the united states. it's this impression of a society that is so bent on what it as always be where that's leading in. and that's not a pretty picture professor wolf, we're out of time, but next time we have you on, i want to talk about that worker shortage. we've heard so much about and how the economy is changing for workers and they're actually taking a little bit of this into their own hands and we'll get to that next time we have you on professor richard. well, host of economic update. thank you so much. thank you, grant and finally, it was only a matter of time before the sale of a f. t was caught up in some legal drama. rockefeller records has sued the labels

co founder daemon, dash for attempting to sell the copyright to hip hop legend j. these 1st album, reasonable doubt now while dash claims that wasn't his intention to sell the rights to the album, vassar platform, super farm previous fill it out. it was indeed as and saying, quote, super farm is proud to announce in collaboration with damon dash, the auction of demons ownership of the copyright of j's these 1st album. reasonable doubt this mark the new milestone in the history of f. t. title and new owner to future revenue generated by the unique acts, ass asset seems like that's what they were saying. the auction was set for this week, but was canceled after the label issued a warning letter to the platform. rockefeller also won a temporary restraining order in the us district court tuesday of this week, which called for a hearing on the matter on the 1st of july. and that's it for the time it gets both on demand on portable tv available on smartphones and tablets. you google play an apple app store by searching portable tv or go to portable dot tv to find out more

. we'll see you next time on boone bus. me. when i would chose the wrong one, i'll just don't need you to fill out this thing because the after an engagement equals the trail. when so many find themselves, well, the part we choose to look for common ground in while we were saying on the show was taking and you've got global hash war because i called countries are now competing to accumulate the most they point as part of the game theory that's built into the incentive stack,

that is the magic of bitcoin and was unpredictable who exactly would take the 1st step and we had talked about possibly japan, possibly around. possibly russia turns out that nel, salvador is taking the 1st step toward a big point standard making bitcoin legal standard. he's really still seeing the costs right on police report. in december 2020 a group of anti finishes. fill out a film crew access for 3 months. 3rd row like people, organization. it's an idea that must be opposed that channel out the gate route. they make their faces but they can say what they believe and we believe in helping our community. we believe that fascism is one of the major threats to the united states has gotten driven. this is a chance to see who and teeth are really are. in order for me. my 1st amendment

rights and say that my life matter, i have to be on to the teacher that that's how we can trust the police. we can't trust the government. we can't trust anyone except ourselves to protect ourselves. in russia says it was forced by a warning shots after you came worship entered the territory and the black sea, however, london and the vessel was travelling in international waters, criminal or victim frenchwoman who says that she lived in fear of her husband for decades on trial for murdering him, that as campaigners one, there is little protection in pieces of domestic violence. and the report reveals suicide by us. the veterans of the war on terror are 4 times higher than deaths in combat. we hear from a former the.