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. and it's kinda crazy to think that we are now looking at $30000.00 as the low when, after a long period of time breaking $20000.00 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 sediment. they bring up many of the common complaints. we hear about crypto that is used for money laundering, ransomware, tax and 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 bad for the environment. that's such a ridiculous argument. i talked about this a couple of weeks ago, but i just want to mention it again. so 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 rat 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 fact that suggests 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 hype and 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, there, hedge funds and headphones 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 sole 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 refunds every 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 xt 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 when are holding ease and not trading or doing anything. all you had to do with hold these assets and you literally 6 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 mad 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 their show thing. they are needed to modernize finance, and 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 say cbd 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. thank you. and 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. the 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 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 quantity 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 b c. the power to break up big temp companies for the sites like google and amazon stop giving their products preference over rivals in search results. block companies like facebook from acquiring direct competitors like instagram, increase 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 when the american travelers will be permitted to travel to europe, this comes after that you updated its list of approved countries, allowed entry to the blacks 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 koby 1910, for more or less. let's bring in our tea correspondence science, 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 bar 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 p c, r, 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 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, and they're both considered to be on the list of their dangerous virus. various area, strick measures will continue to be affect. now, book do you came in the are currently place on the use list that must quarantine before days and not permitted to end the 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 requirement for all vaccinated travelers. now, britain's that includes 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 okay. now this will re heard a 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. is there any news on the us opening? it's borders more to more and travelers? well, so while europe is officially open to americans, the us 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, or 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 into you. and as we see large parts of the us population has 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, what we've been saying on the show is picking in, you've got global war because they cost countries are not competing to accumulate the most bitcoin 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, tendered, lose responding. be

necessarily need budget. yeah. you have to do the packing, but i again gag jones. i died. i might have talked to you about some of the 10410 days and right on the bank of guns based water, chemical lights and has are, this is going to develop new to them and their international market know that these industries polluting you simply ignore it in one days that mother and when we loved the mother, that means we lost the the,

the if that you're the question police 30 good. can you better than the mean, russell? but i hope so, but over the over the years, and they sort of lenient motion learning a lot of stories going on in the course, mrs. to mrs. barbara that i present should been good. we think he might be a soldier because off the boot she's wearing your twitched up. took

a puzzle. was little young on this. you're still in the summer watching please. i 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 and 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 get you the segments and it feels like that title, 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 labels sick 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 to 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 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 the 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 with 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 fantastic ride up of the inflation if you like, of 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 threatens every one. and now this report also states that quote, the rise and wealth inequality was likely not caused by the pandemic itself, nor it's direct economic impact, but was instead of consequence of those actions, as he mentioned, undertaken to mitigate its impact primarily lower interest rate. now i want to go back to the point that you may 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 putting their buddy in the stock market professor? well, they don't have the money. i believe they would be doing that because that's what people who have money either figure out on their own or go to someone and add them explained 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 wells in the stock market. so you love the hand demik. it's correct. as you say, brands, this kind of equality 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 societal professor. well, to, to your point about how these people,

these lower income people, they don't have assets. and 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, and 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 have to look towards my retirement, and these people you have less than 10 $1000.00 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 to the patient 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 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 numbers are staggering and we're facing a worsening of what was already a bad situation. look for me and for many looking your fee. and i did states, particularly from the outside. this seems to be an economy clown during losing is very, it's not just that the knees seem 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 has always done that it doesn't see 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. we'll get to that next time we have you on professor richard will 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 with 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 lead. and jay, the 1st album reasonable doubt now while dash claim that wasn't his intention to sell the rights to the album, vest, or 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 jays. the 1st album, reasonable doubt this mark the new milestone in the history of n, f t. title and new owner. to future revenue generated by the unique acts as the 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 you get both on demand on portable tv available on smartphones and tablets. you google play and apple app store by searching portable tv or go to portable dot tv to find out more will the next time, boom bus me ah

ah, the ah, ah. doing the breathing technique and then take it in here. and then i don't know when it goes back to to break down. i need to re

read a dime, a field trip tomorrow. i just didn't read a vision. she me. i don't think that comes right on police report in december 2020 a group of and she finishes fill out a film crew access for 3 months people organization. it's an idea that must be a po, that channel out the gate ground. they may kill their faces, but they can say what they believe in, we believe and help 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 right and say that my life matter. i have to be onto the teachers that that's how we can trust the police. we can't trust the government. we can't trust anyone

except or so to protect ourselves in 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. ah, survive and interrogation. you've gotta be ready. you're definitely don't want to be going to throw in a jump. so one cups, you're more likely to walk free if you're rich and you'll, you are. if you're poor i, 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 gonna date yourself before

responding will be necessarily need budget. you didn't have the target, but i again gag in john's island. yeah, this 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 canada based water chemical lights. and this is going to develop a new t mon, their international market. know that these industries polluting you're simply ignored in one days, the mother of them. and when we loved them, other than that means we lost the in the,

the if that you had to go to finish that are you going to, can you who better than the human russell? i hope so, but over the over the book or just sort of the motion learning and a lot of stuff going on in the course procure, which is actually just for the the good position. the good we think he might be a soldier because of the booty wearing your twitched up took a puzzle. when you was like this,

you're still in the summer watching. please please. ah ah, it's late thursday morning here. moscow headlines the time demick increases the number of millionaires by 5000000. as the gap between the rich and poor widens even further. and in our next headline, a warning now of disturbing images coming up. red old boy and his mother had been assaulted by a drug addict officials, had sanctioned drug use in a nearby area. they created a kind of a drug addict, isolated, he'll abandon, we have a park, but it is absolutely impossible to go here.