ah, the it's an open secret that private military companies have been playing a role in om complex worldwide. u. s. government doesn't track the number of contractors that uses in places iraq or afghanistan united states army and the military in general is so reliance on the private sector. i would call the dependency, but we don't know who is the on the ground presence of these companies overseas. we just don't know. the western private military companies can in their turn, use so called sub contractors from countries with trouble past the piano. quite good. that had also been charles soldiers. i think i was also, as i drove profession or drug rep,

when they called it wouldn't that look with linda and malone and they were trying to be merciless killing machine. and now they fight and die in other people's was people carol, lot one or a dead soldier or dead marine shows up in this country and we started asking ourselves, why did they die? why do what were they fighting for? nobody bothers doubts about the contractors. the in the boom, but the one business show you can't afford to miss branch aboard and i'm rachel blood. and then washington coming up ukraine becomes the 5th country in as many weeks to adopt a new law aimed at recognizing and regulating crypto currency will break down what it means for the growing industry. and this power worldwide watch china makes the

unprecedented move to release crude oil from a state reserve for the 1st time. well, the, how the announcement is impacting markets and what it means for basing as a player in the industry and pilots from a major us carrier planning to take to the picket line tension between the labor union and management have begun to boil over later on. we'll dig into the issues with impact. so today was dive right in the we leave the program with what might be the single best time that crypto currency is here to day. if you didn't believe it before, just pay attention to the government around the world are doing. the ukraine, for instance, just become the, became the latest country to create laws and regulations around crypto. in

a nearly unanimous vote, the ukrainian parliament adopted a law that legalizes and regulates crypto currency. the bill was set in motion in 2020, and it now had to the desk of the nation's president until today, crypto in ukraine, as it is in many other nations, has existed in a legal gray area. joining us now. it's just our food co host, an crypto analyst been swan and chris the. alright ben, i want to start with you. would you say that the more government's adopt rules for crypto the more crypto is actually here to stay? yeah, i think so. i think the governments are usually the last ones to adopt things. we think about technology and how it emerges, how it moves kind of through societies, governments and politicians themselves are, are rarely brave or visionary people. most of the time. there are people who simply follow where the trends are going or where the crowd is already gone and they want to look like very important. so they try to catch up and,

and then establish law. so in this case, what ukraine has done is you're going to enshrine and law things like virtual assets, digital wallets, that's going to become a part of some of that terminology will become a part of ukranian law. this is not the same as what we just saw in el salvador this week. you know, certainly big coin becomes legal, tender, obviously, crypto currencies, big point among them is not going to be on the same footing as ukraine's national currency. and it will not the government there is not going to facilitate taking bitcoin as it is in el salvador, certainly. but it is a huge step forward because up until now, as you mentioned, ukraine is operated in the grazer, when it comes to crypto currency. and there's been a lot of questions about what is legal and what is not in every time a government around the world stepped forward and says ok, we need to accept that this is not just the future. this is the present. but right now, and begins to actually give acceptance general acceptance to crypto currency. i think it's a very good sign for things to go. now, christie, on that note, with all salvador having now made bit queen legal tender. other countries like 100

us and guatemala, are now studying c, b, b, c's. so how long before we begin to see other countries copy all salvatore's model? yeah, it's pretty exciting that i was out of the officially became the 1st nation in the world to recognize the coin as legal tender. so now it's neighbors have kind of perked up, but kind of in a different direction. hundreds, in guatemala, as you said, they're studying cbd seats, which is very different than big choir. because instead of embracing existing crypto currency as legal tender, these cbc will be centrally issued money by their respective central banks. okay. they're basically just digitalized the existing form money, which really does nothing to solve any of their existing inflationary problems and problems. because it's literally just monopoly money issued by the exact same bank that issue the paper money. but now it's just fancy, it's digital. i had the cool name like i cuts or something to sound really modern, but to really answer your question on who will follow and el salvador footsteps,

making big when little tender. i don't think it will be ukraine or hunger, or guatemala. they seem to be intent on the cbc route, the same as china, sweet in the caribbean than the other, $81.00 other countries. but i do think the next one could be someone like japan because don't forget japan is up there too. they pass the virtual currency act back in 2017, and some people. some analysts actually claim that this act gives bitcoin legal tender status in japan because it technically defined bitcoin and other virtual currencies as a form of payment method. so not legally recognized as a currency or legal tender to be paid debt obligations yet. but as a form of payment method, basically it's in the same category. paypal pay, paul dollars, ali baba bucks, which are accepted everywhere. yeah, that really is interesting to see the countries that are trying to push more toward the digital currency kind of saying, hey, look over here at the shiny thing rather than looking at bitcoin. now been, you have warned about the disruption created by bitcoin in places like el salvador

. and a new report indicates that all salvatore's new crypto wall, it could cost western union up to $400000000.00 a year. are we likely to continue to see more push back against moves like the one we're seeing and i'll solve it or? i think we will. i, you know, jeffrey tucker earlier this week called me a pessimists. i think i'm a real, more than a pessimists. so think about the horse in the buggy, right. so bitcoin encrypted currency, that's the automobile. the horse and buggy. you know, the crowd is out. western union is the horse and buggy. nobody needs them anymore. they've become obsolete already. $400000000.00 loss from just el salvador, creating wallet. it's pretty incredible if you think about it, but here's the difference. the horse and buggy crowd in the early 18 or early 19 hundreds. wasn't willing to go to war over getting rid of the automobile. i believe there is a very different view in terms of the banking institutions that are in power that really have facilitated a lot of war around the world. they're not going to go quietly into the night.

entities like western union are not going to go quietly into the night there. i'm going to sit back and say, hey, you know what, our time is up. crypto currency is here and no one really needs us anymore. so let's just close up shop. they're going to do everything they can to disrupt the disruptors. i believe that is coming in. so wow, yes, more govern around the world are beginning to adopt the language for crypto currencies. there is a new war on the horizon and that will be to consolidate and control where this movement goes. the idea that every government around the world gonna throw up their hands and say, hey listen, we should all accept this idea of free markets and move free flow of money and transactions and free trade. let's just let go of the system that we've built over the last 1000 years. i just don't see that happening easily and it's easily you should point out to that. i mean, when you're looking at it and the fact that $400000000.00 is how much western union makes on remittances. and specifically, in regards to el salvador, that's a ridiculous amount of money that they're just doing to transfer money countries. yeah, i know that one tiny country, i mean, that's not

a whole show and it's own about how that remains. business is working. before we go, christie, we have to ask about bitcoin price, you know, which has been smash this week. and yet we continue to hear prediction that in spite of that bitcoin could be headed to $100000.00. why is that and quickly please? not smash it only last 9000, which is nothing for big wind. but i think by the end of the year we can very easily hit 100000 because we saw this early summer sell off as a consolidation period. that kind of coincide with the network improvement china relocating their miners and other actual upgrades across the entire landscape. so we're definitely still in this bullish cycle because the bottom line is you have a limited and fix applied bit going and you have every single month, exponentially more demand. so as long that exists, prices are going to rise. boom, but spend swan and christie. i thank you so much, break it all this down for us today. they do. china has announced plans to release crude oil from its state reserves for the 1st time ever following reports.

the factory gate inflation had a 13 year high in august. this marks meetings latest attempt to crack down on the soaring prices of raw materials and to ease the pressure placed on domestic refiners. while it's not clear yet how much crude will be sold, the approved reserves are, are expected to be released to the market for a public auction. china state reserves administration. so the move will quote, better stabilize domestic market supply and demand effectively guarantee the countries energy security. but how does it stand to impact tensions worldwide? well, joining us out to discuss it, david macalucio mckelvey, the financial group. now david, how does this surprise move from china? stand to impact the oil market overall right now. well, today's move is not all that dramatic time will tell if this choice sort of tips the scales and begins a longer period of lower pricing for crude. and of course, the total quantity that's released will be relevant the reality of higher input prices and the impact of higher consumer prices is very concerning. not only the

chinese government governments all over the world, and the u. s. for instance, has tried to strong arm opec to bring prices down to lead a political pressure arising from voters negative economic experience and the same pressures are emerging in europe. european bond market has been signaling that the sep will lighten up on q e because we're seeing some inflation pressures there and people don't like it. so the real factor in the equation is inflation. inflation is defining the political conversation and the knock on effect is that monetary policy and other policy choices are impacted. so in the case of china, it shows well to a domestic audience that the government will do what it can on the cost front. but opec in your primary producers will still determine the international pricing of crude. if the chinese want to bring crude prices down in earnest, then perhaps we see a new wave of coven or some strands that hasn't been encountered yet at that.

certainly from a demand perspective could be very impactful. i want to try to stick with china here for a minute because they are the world's largest importer of crude oil. and it does, they generally don't make it strategic petroleum reserve public and rarely gives the world insight into how much the country actually had. is any of this assigned that the tide might be changing, and why are we seeing this from china directly right now, outside of the inflationary discussion, just had here, this is really key. i think china's release of petroleum could very well be an expression to the domestic audience that we are doing what we can. and frankly, if it doesn't work, if it doesn't really move the needle, i think you've been in the west in a variety of ways. so china has a series of opportunities and quite a few challenges. presently, one of the obvious opportunities here in recent weeks from an international perspective is to quickly fill the void, the u. s. left, chattering, the chinese moving into the bathroom air force bases is just one example of that very intriguing that domestically there. recalibrating. and there removing certain

aspects of the market economy, which are very common and express from 978 to 2020 in that period. next year would have been using things transition out of power. he's remove the competition from the pull it bureau, he's established unlimited terms for his leadership, and i think it's fair to keep the old expiration date for the 2nd term. that is 2022 in mind when judging any of the parties, actions that a clean suite to the military. he's in the process of reducing power in the business community with regulations, with the board seats and strategic stakes with publicly traded companies. and soros has recently said, there is a version of mouth which is returning to china and the capital markets have no idea what a surprise that will be. so again, i think it's worth mentioning some of these contexts, real issues. you've got major credit, credit issues, which we've discussed on this program before, but that again p, p i. so the tides are changing as you suggest p, p i the,

one of the measures for inflation 9.5 percent higher compared to last august. inflation is a sensitive issue for chinese people. you've got several $100000000.00 people living on less than $154.00 a month. so china's release of petroleum again could very well be an expression meant for that domestic audience. we're doing what we can and again, if it doesn't work, then we move to the black game. well, i know here in the united, if we know a thing or 2 about rising inflation right now, and i want to bring the conversation over to what we're looking at here. you know, we've heard complaints from top oil companies here in the u. s. in response to president biden's calls for opec plus to increase output. now they're questioning why the administration is calling for an increase in foreign oil production rather than domestic. what do you make of that? you know, u. s. domestic politics is both unreasonable and unkind. so if i say anything, somebody's sure to hate me. so here i go. ratings to the current administration are

in decline for a variety of reasons, but inflation is a fact which consumers face on a daily basis in the grocery stores at the gas pumps. so pressuring, opec if successful, get you the equivalent of attacks. great, you pay less at the pump, you have more to spend on what you want your currying favor with voters. you don't ask for domestic production to increase because it betrays your green constituents and those who want to end the use of fossil fuels domestically. so instead you have opec move the needle for you relieving economic pressure and you get to keep your e s g. that is your environmental social governance credentials. you keep them intact. i think that's what the administration was all great inside as always were . and how to leave it right there. david mckelvey, of mac, of any financial. thank you so much for your time. thank you. and social media years is in the united states, and united kingdom are spending more time on tick tock than you tube, according to a new report for monitoring firm app. annie, now there is

a lot of data to suss out here. first of all, take packets to pants. youtube, in average time spent on the app per user. of course, the google owned a video platform, both an estimated 2000000000 monthly users, while numbers from last year show tick tock. only average is about 700000000 users monthly. now the report from app and also only accounts for those using android devices, while worldwide android is the most popular mobile operating system. apple devices are still more widely used in the 2 countries that are, we've seen tick tock surpass google or youtube. youtube massive number of users mean over all time spent on the platform still far exceeds that of tick tock. okay, now i know you're not on tick tock. however, it is interesting to see how it is deem. it seems like it is game, even more popularity with all of the government officials that seem to be going against it. right? well, if you feel like the idea that teenagers seem to be the most likely to use tick

tock i'm, i'm generalizing there of course, but. 2 when the government, when your parent, when anybody says, hey, you shouldn't be using that because it's bad for you. what are you to do? you go check it out and i think a lot of people went and checked it out. they actually had, there was the most downloaded app worldwide since 2020 take that has and look, i scroll, do tick, tock a couple of times it is very addicting. you go one thing to the next. so it's definitely understandable. but still with the giant user base of youtube and the fact that you know, people like watch it a little bit more sporadically because they're not sitting on it as long as say, a tick tock. it's going to be hard to say whether they could actually surpass youtube totally with users one day last year, last year especially. and then you've got all of the government officials warning against that that makes kids want to run towards it. and so it'll be interesting to see if those numbers keep changing time, not very quick grade when we come back. pilots from american airlines are planning to approach us after months of over scheduling and for working conditions that they say violate us labor law. straight ahead will bring you an insider's perspective on

the planned action. and as we go to break your, the numbers out the close, the me the war on drugs started as a way to come back. a great problem. what's the one? it's part of the attitude of the nation, not just of north dakota, and it got to be something that you could get elected. this time, the fight against drugs took a tragic, told us that andrew was competent short term and this is way too

dangerous for him. to be doing clearly, they put him in harm's way. a rural college student does interest get shot in the head and found in a river like something else had to be happening. on september, the 11th 2001 day that reshape to the mountain world. i remember watching the world trade center burn on a tv at to ca and i was standing there like this just looking at it. and a colleague of mine was standing next to me and he said, my god, did they have any idea what they've done? we're going to kill everybody now. everybody, the, the live tv images promote the us into declaring its war on terror.

they've begun to bomb african villages and holmes and get people hurt and, and killed the main goal of destroying terrorism and then was it achieved? yes. and no, okay, it essentially no longer exists good for us, but there are certainly other terrorist groups that are worse than the welcome back. the labor union representing pilots for american airlines, said it plans to pick it at major hub this fall to protest working conditions which have resulted in fatigue. now the major issues stem from over scheduling and a lack of hotel for crews that happen over the summer travel sees it. and this

isn't the 1st time we've heard these complaints. either. unions in the airline industry have been critical of management as carriers push to keep up with demand and make up for losses during the travel swamp. due to the coven, 1900 pandemic. the allied pilots association which represents american $15000.00 pilots and is in the middle of a contract negotiation with the airline, says it is planning to pick it at carriers hub in miami, dallas, fort worth, and other cities in coming weeks. well, joining us now to discuss the situation is captain dennis pager is the communication committee chairman of the allied pilots association. and it's a regular here on boom. but now cab details are what exactly are the issues at hand here? and how is the union hoping american will respond? we're hoping to management will change their scheduling practices. we've seen a summer that has been unlike anything we've seen great for the recovery, but unfortunately, management wasn't prepared to handle metric uniquely american. it pulled down their

schedule because they just couldn't connect the pilots to the airplane, especially after a weather of that. it took american days to recover from a weather event where normally you're back up and running in a handful of hours. that was just do their lack of planning, having a power train and then the techniques that they use scheduling practices. so we are hoping for what this is about right now while we're speaking from there still kind of the heat of the summer is still here. we're looking at the larger than the summer spectrum and where we were at the early and that was how are you going to get this done in the summer, where now we're asking how you're going to get this done in a winter. if you don't change your behavior, now we have solutions for this. but when they show the management shown to do is just make up the rules that they go along, which is a violation status quo. would you be a federal law when it comes to working agreements? but for our passengers, the most important thing, if you spend your her money to get from a to be during the holiday season or

a business travel, you've got to have the contract fulfilled and have a crew there in an airplane, ready to roll the house and been ready to summer management hasn't gotten the job done. so we're standing with our passengers with these picketing events. we're seeing is advocate where passengers because we both we the same thing. our passengers do one place get cancelled. we want to reliable airlines sort of work. passengers methics, they get service paid for and we're going to need to that happens even if management is going to resist our solutions. we're going to palm on the table. we're going to walk on the street yard out saying, get it done, serve our passengers, and serve our investors to invest their money and are, you know, it has been incredibly concerning. when you look at these complaints and you see that there is fatigue, that there's over scheduling conditions that these pilots are put in, especially as air travel picks up and there's more of a demand. so how big of a safety concern is this overall right now? well, here's the good when you hear about the entity you should think about, well,

i'm going to for her surgery, is my search and you don't want that. but the good news is, is that the epic gives us the authority before every flight is kept. the 1st officer, we have to check off a signature box, sign it off. we are to fly and we are forecasting our ability to focus on the flight. no matter how many hours on duty we have. so that's never going to change. but the fact that management is building schedules that the very little buffer is concerning, that the narrowing of the, of the margin of safety. and also, most importantly is the narrow it causes like possibly be cancelled when i say that, hey, with all these events, this x amount of hours per day has limits. even if i'm inside those limits. and i know i'm not going to be probably focus in aware and other words to see i have not to engage in acts like that means they're quite likely to cancel or be very delayed . why would you decrease the offer to a point where 30 minutes makes

a schedule for our commercial interest or not? the reason why you have that, you're actually going to decrease your revenue in your reputation if you schedule. and that's what we're trying to get management to focus, not just change the dollar, but to look long range and understand that this is really the best business plan. so we're going to get them in there. but unfortunately, we have to take on getting events to get their attention, but we're going to be in the solution table ready to roll with, with answers before the snow for this year. and it snow poor this summer when it random, ported american management was reason that happened. so we're going to get this fixed, but we're starting early calculator, i'm sorry, i only have about 30 seconds left. but i wanted to ask you this. why were we seeing kind of the staffing shortages? was it that so many people didn't come back after the pandemic? and there were people who were the took early retirement or whatever might happen

there. and they just didn't have those people trained that was the 1st step. and then once they got to train, they realized they didn't have the ability to connect us to all of these flights. they hacked so as to fall in it always at the feet of management. and there's the blame. but we're the solution. we can help you get out of this mess and i have this happen again in this important winter holiday travel season that all of the allied pilots association. thank you so much for being a great resource. we'll continue following the story. thank you. and finally, into the billionaires who just can't seem to get along. jeff bases and amazon have some choice words for you on musk and space x and a new filing with the federal communications commission that went a little something like this. amazon stated, quote, whether it is launching satellites with unlicensed antenna, launching rockets without approval building an unapproved launch tower, or reopening a factory in violation of

a shelter in place order the conduct of space x and other must lead companies makes their view. plain rules are for other people. ok, so clearly bases wasn't too fond of the claim made by musk that bases retired from amazon. so that he could pursue a full time career filing lawsuits against face ex, notably companies owned by bays. those are maintaining an average of one complaint against base eggs every 16 days this year. the latest complaint takes aim at the plan by space x to expand its darling technology with the goal of adding thousands of satellites to deliver high speed internet across the planet. while b, this is working on similar technology, it's estimated that his version won't be ready for use for at least a decade. while mosque already has over 100000 customers in 14 countries. you would think that, you know, to the richest men in the world who at one point and we're one into those would be the guys you could agree with those guys you could get along with. but that doesn't

seem to be the case. but also you made a great point there at the end, in this all a little bit of sour grapes from bay. those it seems like his company are lagging behind, proven technology from landmarks and space x. so is that where they are right now? yes, certainly seems to me that way and just kind of the back and forth. we have to remember jeff basis is the richest man man in the world. so it all comes back to him wanting to be 1st no matter what. and that's it for this time. you can catch boom bus on demand on the portable tv app available on smartphones and tablets through google play in the apple app store by searching for both tv portable and tv can also be downloaded on samsung smart tv, roku devices, or simply check it out a portable tv, well see you next time me the me the civic leg around the world. expedition.

5000 miles round the clock and the dead cob. this the national personal financial. every country, close by the crew. gavin's food and water harbor. to check those for sure. let me know, i got everybody locked down or no more, no food and no water about that. only give them up. sure. somebody stuck a fish in the cove in your living like the theme of own but in the 21st century. the

the the the top stories if the russian federation finally completes the construction of the controversial lot stream to pipeline which except to deliver low cost gas from siberia to europe. after $911.00. they did not that you are not the american you deserve not fashion. ahead of the anniversary of 911, our t looks the lasting impact of the us led war on terror. today we'll be hearing from a former guantanamo prisoner. he was released off the 14 years of unlawful detention. and the candidate for the french pregnancies.