as mandatory covert shots, they were demanding personal freedoms money decrying the jobs is experimental. the city governments requiring school staff to have at least one dose by september and in japan, activists confronted tokyo police outside the lympics, stayed in demanding the government canceled the paralympic games that have just got them the way to prevent further spread of covert infections or surging in the country right now, breaking law on record. okay, that wraps it up for now if you have time, check out more news on a website to us. you don't call the one the make no borders and my number is emerge. we don't have a therapy. we don't actually,

the whole world needs to take action and be ready. people judge, you know, come crisis, we can do better, we should be better. everyone is contributing each in their own way. but we also know that this crisis will not go on forever. the challenges wait for the response has been massive. so many good people are helping us. it makes us feel very proud that we are together in the is still large enough to satisfy the ambitions of jeff bezos. you know that its tentacles in so many aspects of the economy. there's nothing that amazon isn't trying to get into to step by step. the amazon empire has extended its group on the world that walks by conduct in quacks like

a dog. and so amazon looks like monopoly trays like a monopoly makes money like monopoly behaves like monopoly. amazon essentially controlled the marketplace. it's not really a market as a private arena world where a single company controls the distribution of daily products. and the infrastructure of our economy is reduce the workload according to amazon. ah, the business boom bus one business show you can't afford to mess. i'm rachel robins in washington coming up as bitcoin value approaches. one trillion some bankers are saying they believe crypto currencies could replace the us dollar in just 5 years will discuss was oil prices are rallying for the 3rd day in

a row. as the latest data from the u. s. shows fuel demand just hit its highest point since the start of the pan demik vice president harris travels the vietnam where she claims china is bullying. its neighbors will take a look at how the u. s. is trying to gain favor with se, asia using vaccine diplomacy. we have a talk show today for di, right, in the really the program with the latest one attempts to regulate crypto and sees by the us and its allies with bitcoin back over the 50000 dollar mark, governments and watchdog groups are taking notice. and once again, issuing warnings about the growth, the size, and the rate of adoption of crypto currencies. in fact, at its current size, bitcoin total value now exceeds $900000000000.00. more than all, but

a handful of companies with its success comes new warnings about crypto currencies and their likelihood to replace the u. s. dollar in as little as just 5 years. so joining me now to break down the latest our food co host and crypto analysts, ben swan, and christine, kristy, let's start with you here. now regulators are scrutinizing the crypto industry like never before, and yet crypto just keeps growing. why is that? well, you don't expect a profitable industry to stop growing just because regulation is coming because the thing is, capitalism. societies is that you keep on trying to out run the regulators grow faster than they can crack down. i mean, look at google, facebook, amazon, they've grown so big that really they don't have to answer to anyone because what our regular is going to do, shut them down, issue a couple fines. you really can't stop innovation and advancement just because the current market leaders want the status quo to remain unchanged. technology is all

about disruption and google and facebook disrupted the ad industry. amazon completely changed retail and they all changed it by doing something completely out of the box and a space that is unregulated because the unregulated areas of the market are the only places with any opportunities left. because regulation kills opportunity, it kills competition and killed innovation. and now kept those doing the same there in a race against the industry to mature and strengthen before the regulars can truly crack down on it. and really the industry has been waiting for them to come down with a ruling for years now. the companies waited for the regulators to decide whether or not their idea, what the security or utility or derivative. they never got off the ground, but the companies who launched 1st anyways and dealt with the consequences later on . those are the ones who are thriving now. so in essence, the lesson is it's better to ask for forgiveness than to ask for permission, because while you wait, others will continue passing you by. and as we've seen, curb, their currencies have continued to grow. and all of those regulators and officials who have talked about them have given them even more attention and air time along

with it. now been an interesting story here. a pull of mostly banking executives found that most think bitcoin and other digital assets could replace the yacht currencies like the u. s. dollar within the next 5 to 10 years, a shift described as seismic. are you surprised by that at all? yeah, i'm not really surprised by it. i think 5 to 10 years is highly unlikely. if we're going to be honest about it because i mean, how is that going to take place in terms of the us currency? probably not. but in reality, what we have to look at is, is it likely that we're going to see big coin become the new reserve currency. and i think there's a much more likely scenario for that. reserve currencies or a different kind of animal of what we're talking about here. we're really talking about when we discuss this is, is it possible that bitcoin and the theory and some of these other crypto currencies will ultimately be how governments a transact with each other. instead of going to the us dollar instead of buying oil

and that oil being based in us dollars, would it be based in some kind of a digital currency or crypto? correct. that is a much more likely, much more realistic scenario to take place than displacing the u. s. dollar in terms of usage inside the united states. but i do believe that i believe that within 10 years, is it possible that the point where some other crypto currency will become the world's reserve currency. so that exchanges between countries are not made in us dollars, but instead are made in the coin. i think that's highly possible and even extremely likely. and it could even be the case of more and more countries just getting on board and those bankers could be trying to raise awareness saying, hey, kate, bitcoin seriously, even if their timeline isn't quite right now. christie, another story here, we're seeing that tag for identifying bitcoin theory and other crypto assets will be launched in september. so what exactly are these digital token identifiers and

how do they work? well, these are actually going to be quite similar to the iso based identifiers are currently used for reporting securities and derivatives in the industry already. so they're still very little detail about how that will actually be implemented and how the technology will actually work in the crypt market. but the idea is the same in which currently exists in securities. essentially they're saying that right now, it's hard to compare the acid across exchanges. you have the same issue currently in equities where you have say, names like taiwan semiconductors that is listed here in america as p s. m ticker. but in hong kong is listed as 2330, or the healthcare company fantasy in america. it's listed as ticker s s, y, but in france it's listed on the cat as, as a n. so same thing, encrypt stellar, is it listed as x l m r s t r. so there's a form called the digital token identifier, foundation comprising of 20 members who've met to discuss, to discuss the global dpi standard. so the objective is to identify crypto acid trays to improve transparency and efficacy. and it's expected that this kind of

standardization could help investors that operate at scale to process crypto acid transactions without having to significantly rework their existing systems and process. which again defeats the point of crypto because what's the point when you're going to store it all in a custodian and a middle man to hold onto it anyway. but in any case, given the time needed for the d p, i to be embedded in the market. the end of 2023 would probably be the earliest practical date for introducing some and some sort of mandatory reporting. okay, interesting. so it's just starting out at the moment. now ben, we know that crypto is a global market, but when it comes to regulation, the u. s. europe and china, of all taken different approaches to the ways in which they look at regulation. now are you, do you think that we're likely to see a global standard of regulation moving forward? yeah, i do. i think that we're going to see some kind of global standard. but, you know, i want to go back to what kristi was saying in the beginning, which is that ultimately we're in a position right now where if you are

a crypto enthusiast or if you're creating something on the block chain right now, sitting around and waiting for the block chain to, to be regulated by governments before we decide to move forward, you lose. the bottom line is a crypto currency and the crypto space is one of the last spaces really in the entire world where true capitalism still exists. it exist on such a, an intrinsic level within the crypto world. and if you, if you move away from that, if you ignore the fact that there is, are real opportunities here. but also the real challenges of figuring out, and instead you just being into, well, what was ultimately going to be the decision of governments, either collectively or individually. and if you wait on that, then you don't even deserve to be in this space. you should get out of the space and stay away from it is why people like mark sucker burke's ultimately failed in his endeavor to try to move into the libra association. remember that? and he was going to become the new faith of crypto and it failed miserably. and the

reason that failed is because mark zuckerberg was literally waiting for the rest of the world, governments of the world to line up to create rules that he could been dominate and control. and when that wasn't working out the way he wanted to to, he basically abandoned the space and good get those people out of it. that ultimately yes, there will be more regulation in the space and there will probably be some level of global regulation. but at the same time now is the moment in the space and to change form for the space before the regulator step into the investments on and christy, i thank you both for your time and insight. oil prices extended gains for a 3rd session on wednesday, as the latest data from the u. s. government shows fuel demand at its highest point since it started the pandemic this week. brent crude and west tactics west texas intermediate benchmark have seen gains of 9 percent. mark, making up for

a 7 day losing streak, but with fears of the delta variant hurting demands subsiding for now. and mexico confirming its output will rebound following a massive fire that impacted 40 percent of the country supply. the biggest question becomes, how long will this rally last journey? me now to go further in depth on this is david mack of any ceo of mckelvey, the financial group. david is great. have you back on the show today. i want to start with this rally on oil prices that we're seeing this week. what's fueling demand here in the u. s. to the point where it's finally back to where it was at the beginning of the pandemic. improve demand here in the u. s. is still. ready recovery and reopening oriented, and hopefully that stays the case. some really critical things happen last week that i do want to mention very quickly. last week was really the most volatile. we've seen oil and some time down 10 percent. lots of dots to connect their weight and unwind in a variety of equity and debt segments within china. and there's $22.00 ideas that

you've got to grab here, a 12 trillion dollar debt market showing weakness has serious implications. and we began to see that across multiple segments, no doubt that a continued market route would have pressured, chinese investor, the chinese economy. and therefore, we saw commodity use come under significant pressure with the all commodities. but obviously oil was, was there to, gold was the one stand out. it actually was not at a pressure at all. even this week, as oil prices of recovered high yield indices in china, still above 12 percent. the bottom line is that financial markets had a catalyst last week for a major market, not them. and we got to see basing act, and they acted quickly. so look at what happened with. ready warren, while we're on the asset management company, they came in and recapitalized last week, and lo and behold, their lives, peace and home. as we came into this, this week, they sent a message. they sent a message that the asset management companies are too significant, too big to fail. every brand on the other hand is still circling the drain. 41

percent yields on their debt. i mean, we're talking about the company that is near bankruptcy and dissolution. so it's no good, no coincidence that everything sold off last week and everything is rallying this week. and i think china is really the key there. while i'm glad you bring up china, because whenever we talk about theories related to the delta vary and it seems to have a lot to do with china and about any lockdown measures they would pursue. so are we now at a point where it seems like those fears are easing specifically when it comes to a rise in covey cases going on around the world in terms of the world, possibly shutting down. and how cautious is the oil market right now when it comes to a threat of cobra? cases fighting in the months to come and possibly hurting demand? yeah, the old markets have not moved much uncovered concerns in my opinion, but they could. so you could also see other asset classes that have been nuts and sensitive to, to co shutdowns, like the u. s. equity markets,

they are behaving as if coven. ready is in the rear view mirror, and frankly, regardless of your use on colored the virus, there is a political risk which covered where policies, height and political risk because policies can be implemented all of a sudden turn and otherwise rosy. picture, economic picture, domestic or international into something that is very unfavorable. so there's heightened political risk in the markets and oils included that. i don't think that's priced in. i'm commodities bullish, but there have been and will be some air pockets. and i think the downside risk for oil is the policy reactions. actually, the risk is still very much there. and, and i think it's probably partly because we're in this political contentious environment. right now we have cases on the rise, we have hospitalizations again on the rise of new zealand which has shut down. we've got a strain which has partially shut down. canada never really reopened several other asian country in the philippines and need to come to mind are also looking at it

shut down again. the real issue with lot downs comes with the vaccinated. realize that the efficacy of the shots where off after 4 to 6 months, this is what we're finding with the wave in israel, where it's primarily people who have already been vaccinated there can be downloaded. and that raises again the policy issues. and i think that's your risk in the market, commodities, and also equities. i've got about 30 seconds left here, but speaking of government action, i know that we've got the federal reserve jackson hole summit coming up. what are you expecting from that? and do you think that markets will really react to it will help not by nature as a guy. the only instance of that ever being different was when we had 2019 the 3 insurance rate cuts that surprised me. it surprised the markets and this time around i think we've got jobs that look good. we've got the economic growth, which is respectable and surprise would come from aggressively moving forward the timeframe for tapering. that 120000000000. that still being purchased 40000000000

mortgage backed securities, 80000000000 and treasuries. we have a system that's very dependent on liquidity and fusion today. and i think if you change that very quickly, that could be a big surprise. they've been macklevenna macaroni financial. thank you so much for your time and insight. thank you very much. the president biden is taking on cybersecurity with a special meeting at the white house on wednesday. his gas list included a handful of ceo's who have made multiple appearances, testifying before congress on the state of their growing power in the us. but that power and influence was welcomed as were the chief executives room companies and included amazon, apple, google, microsoft, j. p. morgan chase, bank of america, travelers, p g and girls who code the topic of the day with the importance of maintaining cybersecurity in the face of increasing cyber attack. with reports noting that the goal of the white house was to address the root causes of the attacks to look at

repairing critical infrastructure aimed at stopping future attacks and to work toward filling me more than half a 1000000 cybersecurity job openings in the us time. now for a quick break, only come back, vice president harris has some harsh words for china during her time in vietnam, but basing was quick to fire back questioning washington's credibility. we'll discuss it all next. and as we go to break your, the numbers at the close, the ah, ah ah.

well america, crazy frat party in afghanistan is over 20 years, leaving behind quite a man the families that mark i took marking your function, you would like to get some more. yeah, where it shows me how do i manage john got that. i've got that limit and i wanted them to go back to

the left me about run the less about i get up there for us. let me use the welcome back tension between the us and china. continue. i do the chip or chat accusations between the world's 2 largest economies. vice president harris made her latest stop in vietnam on her south east asian tour, where she called for a movement to bring pressure on beijing to quote challenges bowling and excessive maritime claims in the south trying to see and response spoke 1st and for china's foreign ministry argue the u. s. isn't even

a part of the un convention is referencing, and that is track record speaks for itself. a heating the u. s. has returns to join the united nations convention on the law of the session so far, but claims to uphold the convention. maybe us has recklessly intervened militarily in afghanistan, iraq, and syria, but claims to be attending the interests of small countries. so i think it would be much more credible if it said that it was offending the you every legend label and its own interest. meanwhile, china delivered a shipment of 200000 vaccines to vietnam the day before harris arrived. however, the vice president noted to the u. s. who has committed even more this week as it legs behind china and russia, and the global supply of vaccines. today, i am pleased to announce that 1000000 more. 1000000 more doses are on the way to vietnam, as we speak and meet at this very moment. this brings the total number of doses

we've donated to vietnam to 6000000. we have also pledged $500000.00 to us in cove, in 1900 response fund to support the purchase of more vaccines. the united states remains a strong supporter of us in centrality, including inter regional health security located. joining me now to discuss as professor richard wolf, host of economic update and author of the sickness is the system. now, professor, what do you make of this tour? harris is on right now. it seems to be all about getting china's neighbors to cozy up to the u. s instead. but is there more to it than that? know, and you know, to be honest, this is a kind of sad spectacle, the vice president of the united states doing kind of advertising p r. how many 1000000 doses everyone in the world who pays attention knows that

china is one of the leading providers of vaccine around the world where head of the united states. and that's been true for a year, or at least as long as the vaccines have been available. and the go to one little country vietnam and to out do them in the number you are giving them. now. i mean, this is the kind of of, of games that advertisers play and to suggest the chinese are bullies. i'm sure in many ways they are, but this is a vice president who's over there, who's contesting what's going on in the ocean right next door to them? they're not over here trying to didn't do anything to us in the, in afghanistan. we did that all to ourselves and the effort to whitewash all of this is kind of sad to watch. yeah. really isn't the timing of it is also

incredibly notable because at the same time as we heard there from china is foreign ministry. beijing is using afghanistan as an example to countries that become too reliant on the us. now when it comes to talk of washington, credibility does trying to have a point there? absolutely. i mean, the chinese say privately and in some public venues that they don't have any troops invading anywhere and they haven't done it for decades. the united states, by contrast, is invading everywhere as 750 bases around the country is that was a war in afghanistan, iraq, syria. i mean, this is easy, low hanging fruit for the chinese to point the finger in a way that the united states cannot do. and that's not a smart game to be playing when it is in a sense, already racked up against you. it's almost as though the united states is lacking

in the imagination of how to try to make a case and ends up making a very weak case. and that's not a good image. you want to project. yeah, it's like their only focus on one country at a time, forgetting everything else is going on in the world. now on the topic of providing vaccines, the u. s. has been criticized for not doing enough to help other countries, especially when compared to china and russia. so why is the u. s. and specifically harris now making this promise of supplies and funding to vaccine or to vietnam rather this week? well, i think they've been stung by that criticism. even more important though, as a criticism, i think, is the claim that here in the united states, hundreds of millions. so that way, more than we're talking about with vietnam, hundreds of millions of doses are being stored are being kept back from the market even as plans are beginning to be wrapped up for the booster shots,

the 3rd and potentially the 4th shot. so the criticism around the world has been that the united states is keeping for itself the overwhelming bulk of life saving help and not sharing it with the rest of the world. the chinese and the russians are, by contrast, at least doing less of that kind of warding. and that is what vice president harris is trying to deal with, but it's talk okay, apologies for interrupting our regular programming the day. so to bring you some breaking news here in r t and national because reports have come again, that there has been an explosion outside the international airport in cobble. the pentagon has confirmed that the has indeed been a blast. it comes with the british government, having only just recently warned that there was a severe risk that there might be

a terrorist attack at that particular airport. the also been reports come again of small arms far between fighters going on at the airport. of course, this is already a scene of disaster with many thousands of ass guns flocking to this airport in the desperate bid to try and get out of the country that they've been crying themselves up against berries outside of the airport. in the hope that in particular us escape this would help them get on planes and be flown out of the country. but many of them, even with the mentation that you would get them out of the country, they have been struggling to get on board. any particular planes all correspond, right? because the, his income bill will be coming to him very shortly to try and find a little bit more about what's going on. we know that is that this is becoming very quickly humanitarian disaster going on in cobble. as i said, many thousands of people fleeing the country clinging hopefully out of the country,

but so far, being blocked by western security forces is sealed off the airport being very dis, discriminatory at the moment in terms of who they lead into the airport to get on board the regular flights that are going out many countries, the european western nations looking after their own 1st and foremost, for many regular ass guns, hoping that they will at some later point, be able to get out. many people very dive in and the situation that we've seen at campbell international airport. and, and of course, as you already know many taliban security check positioned outside of the apple. the taliban trying to stop regular ass guns from getting there from getting out of the country day a currently trying to impose their will the rain over the countries capital at the moment a trying they say to get the country back to normal. so

as we continue to show you the scenes from afghanistan, just to remind you of just joined us breaking news that there has been reportedly a massive explosion cobble international airport. that information has been confirmed by the pentagon. we believe at this point, this may have been a suicide attack. no information as yet of any possible casualties in explosion. we know suddenly though, that some people have already died, fries to this because of crushes many thousands pushed up against the security barriers being forced back by us and european military officials. well we should be able to bring you a little bit more information about the background situation. what's been going on in the afghan capital?

ok, i think we're getting some information in now about some of the victims in this explosion . ok, these are unconfirmed reports of course at this fairly, very early stage, but we're getting eye witness accounts confirming that the have been fatalities in this explosion. this is news. it is only just commend nothing's been confirmed yet . we can't unfortunately bring you any pictures at this very early stage, and we'll be hoping to speak to a correspondent shortly. but the pentagon has confirmed that has been an explosion . a massive explosion, an eye witness accounts are claiming that there has been a tele, any explosion that would have happened at the airport. the concern would be that it would be inevitable that they would be fatalities because of the thousands of people that we have seen. packed up against those barriers. such has been the desperation to escape afghan as many people.