socialist, do you know what that is? because i don't, we don't know what that means. what does she do? she's living in the lab of luxury. she's created this idea of the show me how she's a, she's a person of the people. so this is, this is another example of somebody for the not, and not for me who says, listen to what i say, but don't make me or don't expect me to follow my own words. and by the way, if you can figure out what she's saying, congratulations, because you're the one, i don't know what she's talking about. that's rundown for this hour. boone bust heading away and just a few moments time and we're back can often with the latest do join us again that ah, when i would show the wrong one, i'll just don't the room. yes. to see out this thing

because the kid an engagement equals the trail. when so many find themselves will depart. we choose to look for common ground the, i don't know, i mean there's some steps in there who are rescuing the food. it's not like we're not scavenging or we're rescuing resources that are still good. this is best by march 21st, which is in 2 days. all these potatoes, pianos, onions, all of these came from waste brown sources. this is great for me because i'm always looking for a way to give things away. dr. because the tax laws, you know, definitely do benefit the wealthier people and our society. so that makes sense for

them to throw it out right off, rather than give it to somebody who could use it. and then that person is not going to buy it. the school bus, the one business. so you can't afford to miss a bridge born washington coming up. tremors from the chinese real estate sector are making their way around the globe. it's fears of a default from real estate giant ever grand group mouth. straight ahead. we look at the response from global market and that can cajun is spreading beyond equities as the crypto currency sector has also deaf. later on where you think you inside the industry to see how prices are bearing. then we move to the situation in northern ireland as post wreck, the trade issues percent. later on, we bring you the latest from the stalemate in 5 minutes or boards. johnson visit to the united states with jam packed show. today. let's get started.

and we'll leave the program with more follow up from the china. ever grand saga, ever grant is due to pay more than $83000000.00 in interest on its march 2022 bond on thursday. and faith is another $47.00 and a half $1000000.00 due next week on march 2024 by growing fears of a default by one of the world's most indebted companies is having a ripple effect across the global equities ever grand group side stock, which is traded in hong kong dropped more than 10 percent on monday, having lost 45 percent in september alone, causing the hung song index to lose more than 3 percent as investors. dumb chinese property related stock. mainland chinese equities were mostly flat, but things got dicey in western markets as investors are also keeping an eye on the u. s. federal reserve, which kicks off 2 days of policy meetings on tuesday,

where the central bank may set a timeline for capering its bon purchasing program in london, the foot the dropped just under one percent. the german dac spell more than 2 percent, while the french cack is down more than one and a half percent here in the united states. the dow and f m p. they last more than 2 percent on monday and the tech heavy nasdaq shed upwards of 2 and a half percent. so to take a look at just how bad this fell off might be. let's bray and michael guy. he's a portfolio manager at toronto investments and publisher of the lead lag report. thank you so much for joining us today, michael. there's a lot to go over here and there are concerns about the adver grand dog of contagion risk, and that this could spill over into entire property sectors, china's overall economy and affect the global recovery. what do you make those concerns? will or i mean, i think they're valid to an extent,

but i says because everybody is saying that this is just another iteration of lehman brothers that that's not going to be the case. it seems a little bit too obvious. i saw some staff that show that ever granted me, it's make about $3800000.00 jobs per year. we know china has been on the war pass internally for this common prosperity. i find it hard to believe that the governors talking to step in and try to prevent contagion, especially if citizens are obviously at risk of being unemployed because of the us that ever granted as taken on this need is not as clear as people think. i think a lot of people are seeing these headlines seeing these numbers, and they're assuming that this is sort of the real catalyst for a black one of it. it could be. but my point is that when it's this obvious, it's probably not going to be what you think that's going to bring. marcus down will be something else. and i think it's interesting that you mentioned that the chinese government will likely step in because that would be the assumption. but a lot of the issues they're having are due to the curb that the chinese government

has put in place. correct? yeah, that's true in, but look, they can come in and simply change management or swap death for equity or any number of way you can restructure this. this is this, you know, and trying to think as much more power to control the private sector than more develop economies like the u. s. so you're correct. maybe he's going to put a conspiracy on you could say that maybe this is all part of the plan for trying to take ever grant itself and become a developer from that standpoint. but again i, i find it a little bit too obvious that this is sort of the start of something major. absolutely. now we generally see the types of sell offs in september. this isn't something new. plus we have the big fed policy meeting this week with markets that have been going pretty strong so far this year with the dow still up 12 percent year to date. so what are you seeing behind what is happening in markets just this week, or in the last couple of weeks waving, go back, i left several months. i mean, the reality is everyone looks at the market and defines it by, as you know,

to the dow jones industrial average, or the s n p. but the reality is you have this rolling series of corrections. really since february, small cas have gone nowhere in the u. s. since then emerging markets picked out early february dollars been strong. treasure yields have been dropping. behaviorally, we've actually been and i would argue in a pretty risk off environment, even though the headline averages, which are really just being driven by 4 or 5 stocks has pushed to new highs. the reason i'm mentioning that is because prospective matters here, right. it's not like you could suddenly made the argument that markets are due for correction. we've been in a correction, i would argue for some time, it's now maybe just need to make it happen to seize as a source of liquidity, which are starting to realize the message of everything else. if i'm right about that, i think that would actually suggest that you end up having a reversion higher by all the areas which have lagged all year, which means everything except us, large cash and the being where you want to allocate money to just that everybody's

worried about china and now with that the fed meeting this week, do you expect the fed to lay out plans for a taper and getting out your crystal ball here? how are markets going to react to that? if they do say, here's our plan for tapering? yeah, i mean maybe, i mean, the reality is there is, i think, to the uncertainties of everything if you know, 12 other central banks meeting globally this, this week. so keep in mind about the depth feeling, you know, coming up i saw them headline that them want to try and push out the expiration 2022. that's concrete. as grievance certainty ever gram me into being the ultimate cover for the fed to not teper and not do anything because the argue that that's a risk, they have to be monitoring carefully. i think we had to hung up on this tapering issue. the reality is the fed has no incentive to really keep keep things volatile . they are going to want to try to make sure the things are not dangerous going forward. and if any they have to hold off on the paper they will. what's the risk,

michael of continuing this q we continuing, you know, the interest rates near 0. i mean, do we have risk to that? i mean, we know that the market is going to continue to go up. yeah, the risk is that you end up having the wealth gap, keep widening. i mean, that's the reality. the end result of all the spirit or monetary policy and stimulus in general is a wider and wider wealth gap. and i mean, let's face every single iteration, the history of whitening wealth gaps tends to occur prior to major evolutions. so a societal issue, i can argue as to why it ended up being very dangerous. if we keep going into this constant stimulus environment that only favor is a small section of the population. those that own assets as opposed to the income holder, which is everybody else. but look, the reality of these things can take a long time to play out. and the federal reserve is pot committed, they put so much capital since the pandemic into this, that if it's going to take another crisis for them to keep doing more with their, they're going to full use it as an excuse us, you know,

keep in mind and you mentioned earlier that, you know, you, you believe we are, we've already seen the correction we've, we've been in that mode for, for quite a while. what are the hedges right now? i mean, is it still just group gold is where you're looking right now. yeah, look, trimming his circle is risk off assets are really the dollar gold and treasury's interestingly enough about today's movement with the sell off treasury yields did not draw aggressively. and gold, you know, of them was not positive in a huge, huge way. so yeah, those historically are your places to allocate campus to as we've clearly seen, it's not because it's not corporate current. these, these are all larger, the same lever play on reflection. gold benefited treasury benefit there, but again, the, the magnitude of which they've out performed today. again, confirmed this idea that this is probably not quote unquote it in terms of but some potential real risk markets. well, we're definitely going to keep an eye on it. we know it's going to be

a crazy week this week and probably for the foreseeable future. michael guy, thank you so much for coming on. we hope to have you again soon, portfolio manager at ronco investments and publisher of the lead lab report. thank you so much. thank you. m, bitcoin price has bled again. this time down as much as 10 percent to below $43000.00. that points on monday as a risky assets tumble globally, even though bitcoin is often seen as a safe haven asset, the world's largest crypto currency does seem to struggle when risky assets decline . but why is that? well, joining us now discussing boom by co host crypto currency analyst, our friend, ben swan, ben, why do you believe that big coin fees could drop alongside risky assets if it is perceived to be a safe haven asset? and despite what michael guy had just mentioned, they're sometimes seen as a hedge against markets and inflation. yeah, i think i think overall brent big point is seen as

a hedge against inflation. i think that's the reason we've seen been going go up quite a bit recently, but, but remember that big coin is kind of blessed and cursed by the same hand. it's blessed because of the fact that government policy, monetary policy that requires printing money devaluing currency and infusing markets with fake money. cheap money, bad money helps to drive the value of bitcoin. because because was created specifically for the purpose of combating bad government monetary policy. however, simultaneously, government is also because of the desire for regulation and the insecurity that i would argue government creates more insecurity in the big coin market than any hackers do than any bad players do. it's. it's the indecisiveness of government, of how to deal with the coin of what to call it, of how to treat it of how to attach it. i think the i arrest does more to actually hurt the price of bitcoin. then then, you know, these other issues do so on one hand, government, yes, absolutely helps to validate bitcoin. but at the same time they become

a threat to bit going and other crypto currencies as well when they push for for tighter regulation or very insecure regulation. because no one really seems to know where they stand on regulation and now, but as we just talk about global equity markets overall, they're down as investors fear. the spreading risk of that shake out in china as property market tied to highly indebted developer ever grants. so how does bitcoin play into all of that? yeah, so i think with the ever grand story, obviously as, as you guys have been talking about, there is a huge fear, right? that this is going to cause a domino effect. and we're going to see markets crashing. you mentioned the markets that are all down today across asia and even in the united states across europe. but i think that big coin is a separate issue from that. what we're seeing with big coin i think are certain investors who are selling bitcoin in order to cover these other losses that they're seeing right now. so while bitcoin is not being treated necessarily as a hedge in this moment, i think what's being done is between being sold because of its value in order to

prop up or secure other areas of the market that are extremely weak right now, it's not that big coins week is a big coin is going to a sell position right now, because a lot of these investors want to protect their other positions. so they're selling bitcoin in order to pop it up. but i don't think bitcoin is being sold just by what some people may be claiming because it's not being sold right now. and because it is insecure over the rest of what's happening with the market, it becomes, again a stabilizing force, as those investors sell it. and then you actually just mentioned this in your 1st answer there about how bad monetary policy helps to drive up the price of bitcoin. and it's kind of a weird situation where you have a lot of se bitcoin evangelists who believe that the fact that they don't like the fact they don't like the fed monetary policy. but what they do like is when bitcoin price goes up. so if the fed continues with this easy monetary policy, that is good for bitcoin investors, right?

well, it is, it's, it's some extent. yes, it's good for, for big investors. but why is it good? it's not because every time the fed infuses more bad money into the system, it automatically causes big going to go up. so it's not like a see saw right where the weight of one lifts the other. it's more of the revelation, right? it's the idea that people see the bad policy. so big coin benefits as more and more people see in competency of the fed, bad fiscal and monetary decisions that mean that their value, their savings, are going to be rob to value. but inflation means that every single dollar you work for is worth less than it was the day before. right? so what the fed is doing is they're not necessarily bringing up the price of big coin. they're proving the concept of big coin. and that drives up the price of that quite, totally understood. now you mentioned that part of the volatility in the crypto market is the result of a lack of clarity about re, could regulation. now currently the financial stability oversight council is

looking at stable coin and could begin regulating those. what's happening there? this is kind of interesting because that particular agency is an oversight board, is looking at stable coins because it's claiming that stable coins threaten stability in the financial markets just kind of crazy, right? because the whole point of a stable going is to bring stabilization into the crypto market. the, the problem is, is we've talked about before, is that the fed is never going to be happy with. the treasury department is never going to be happy with any concept of the digital currency, unless it is controlled and owned by the united states government. that's what we're saying. and a lot of countries around the world right now, right? they want to pretend on one hand at digital current, these are so dangerous while they're simultaneously working on the technology to attempt to emulate, into copy and to create their own digital currencies. so yeah, the idea right now is, is there has to be regulation because stable points are dangerous. bitcoin is dangerous, in theory, him is dangerous. but the real reality is if you look at what's happening in the

markets and what's happening right now in the ever dram situation is a great example of it. what is a bigger threat to markets, right? crypto currencies or heavily indebted companies that are allowed to, to grow with enormous balance sheets that they can never pay off. and they're on the verge of collapsing. and they're waiting. brent, as you know, waiting desperately for a government which means taxpayers to build them out and save them. that is far riskier to markets than anything the crypto currency is doing. boom, bus bend, swan is leave it on a hard note there. thank you so much. thank you. time now for a quick break, but when we come back, the northern ireland trade conflict continues to be a point of contention. as prime minister boris johnson is in the united states. this week. we're going to bring you all the latest detail as we're going to break here. the numbers that close the

me in the us democrats talk endlessly about the so called january 6 interaction. there were less concerned with the real possibility general mark, milly, when, constitutionally broke. also the art of stabbing an ally in the back frame is theory. oh right now there are 2000000000 people who are overweight or obese. it's profitable to sell food that he's fancy and sugary and faulty and addicted not at the individual level. it's not individual willpower. and if we go on believing that will never change as obesity epidemic, that industry has been influencing very deeply. the medical and scientific

establishment, ah, what's driving the reasons for them? it's corporate, me. ah, ah, ah, ah, i use the

and welcome back. energy prices in europe are continuing to spark concerns as a perfect flory flurry of events are causing futures in the sector. despite with winter, quickly approaching on the continent, surging demand is threatening to send inflation even higher as vital gas prices in the region have tripled since the beginning of 2021. but demand isn't the only factor behind the rise and prices. abnormal weather events in europe and the united states have also damage the length of the supply chain with high demand already causing some businesses to halt in the region. some are looking to the recently completed nordstrom to pipeline from russia to germany as a means to ease the growing pressure on the sector. and a follow up to a story we've been covering in recent weeks, u. k. prime minister boris johnson warned that post breakfast trade disruptions in northern ireland can't go on forever. as analysts worn,

the so called sausage wars could affect the holiday season. johnson also told reporters traveling with him to new york for the un general assembly. the dutch prime minister mark ruta, had offered to mediate the issue between the u. k and e u, adding that the country was no barriers for trade and criticize the way it was being enforced. johnson's comments also come ahead of a tuesday meeting with us president joe biden at the white house. joining us now to discuss this and some other issues based on the british prime minister on his trip to the u. s. it's hillary for which board member with the british american business association. now, hillary, i want to start with the northern ireland protocol. does having the dutch prime minister involved in, is this a real thing? is this actually going to help the situation find a resolution? well, pleasure to be back with you again, brent. actually one of the things that are strong on the status, he said that this is absolutely unreasonable. more than 20 percent of all the

checks on the perimeter of the e. u. a conducted now in northern ireland. so really the use just trying to make a point about this because you don't need that little tiny board and all that. and so now to answer your question directly, the british and the doctor historically had a very good relationships. there are probably of many multinational partnerships and corporate a lot says between the docs and an angled dots arrangements. we can think of b, p and shell on unilever and i and g and all the rest of them. so the very good relationship can help. yes, a mock route. certainly, obviously he's far more ingrained with the you and he has far better relationships with you. having mark root in involved is really a good idea. however, the dots diplomats have questioned what boys johnson said that actually mark router had not offered his help. it's more that they, the doctor advocating that there be this conversation with them and involving them in the conversation because they want to protect themselves. they don't want to look like they're going behind the backs of the you. but having the doctor involved

is nearly always good. and now also, i guess that there's this big trip to the united states reports, jesse, speaking at the united nation now monday. yes. and then he's going to be at the white house on tuesday at one of the big issues that they were hoping or he was planning on discussing with president biden was going to be that travel band that we see from the u. k to the united states, but the white house earlier today actually announced that there would allow starting in november the u. k. and you citizens who are fully vaccinated will be able to travel to the united states. how important is that? yeah, it was actually just the u. k. net wasn't to do with you. but yeah, it's very important. actually, brent, what a lot of people don't realize. you know america, a 1000000 brits work in the u. k. u for a 1000000 brits work in the u. s. a 1000000 americans work in the u. k. so you imagine there's at least 2000000 people who've been kept away from their respective families during this whole cova devil. so that's been really bother a strain. and then there are those of us who, having to have relatives over and hoping our relatives can come over and vice versa

. but it's more important in terms of an overall trade route. yes, an extensive amount of trade is done. this is viewed as a boost post to the u. k. economy and the u. s. economy. of course nancy pelosi is over in the u. k. traffic house and she's been barking on about the fact that she's going to, obviously for the u. k. u. s tre. deal in the northern iowa protocol as hell too. but that's another issue why i wanted to hit on that. why is that? an issue that an american law maker would start to criticize and say, such a thing. you should remember that over a 1000000000 dollars with a trade is conducted between just california, her district and the u. k alone. so she's actually the british, i'm, she's being very small about this. the british embassy is going to congress with a report by congressional district and state state and cooked, congressional district of how many american jobs are in those respect, u. k. jobs and american jobs are dependent on u. k. business. so it's very small move by the british empathy. but what it is, is that in congress, you have a lot of american politicians that have irish roots and don't want to see that protocol broken,

but not it. does anybody in the u. k. in the u. k. they will piece also to good friday agreement has to be maintained in terms of peace. and now there's another issue that's obviously been a big news over the last several days. and that is the pact for building nuclear power submarines between australia, united kingdom and the united states. and france is none too happy about the how is that going to affect the economic relationship between france in the u. k? well, couple of things. number one, the french have to pull their french out of the us and actually the french, if you remember that the oldest ally of the u. s. because they actually ganged up on us. but to the war and dependence. i think it's very fab move and she particularly when the macro declared about now it's great that the adults are back in town when biden was elected. because this is being very childish to withdraw your on buses. but now to your question brand, we've gone to the trade with the u. k. i mean, this isn't good for any kind of relations. although the issue is not that the u. s . a u k form this pack with the australians. it is that the diesel submarines

are not viewed as being as competitive and what is necessary to for the chinese in the pacific because the diesel submarines have to surface and the nuclear submarines can stay under the water for fall greater amount of time. so the diesel submarines were viewed as obsolete. so this agreement was more about what is best for the protection of australia. not a some psalm against the french from the brits, but it doesn't help in terms of your exact question which was with regard to trade . it doesn't help because of course, that's still that the fish was, have not ended. and there was still a lot of friction between the british and the french. and i have just about 30 seconds for hillary. but another thing that prime minister johnson is going to do well here is meet with jeff bezos of amazon, about their tax, basically requirement they didn't pay very much as they saw a 50 percent increase in business in the u. k. why is it such an issue that he's talking about? this goes back to the g 7 summit that took place back and i think it was june in como. and that was the agreement for the global minimum tax. what this is,

is this is a tax particularly on the high tech farms. and the important part for the u. k. and actually, all countries in europe, in all countries around the world, actually because it's being ported, this could actually, and global poverty is about the taxes be paid and in the origin of where that business is conducted. so amazon is booming in the u. k. over 50 percent increase in sales via amazon during coded and taxes on those products should be paid in the u. k, which is where they were purchased. and so both john, so ones that income coming back to the u. k. and you're never going to hear me argue against that exact point hillary for which of the british american business association. thank you so much for joining brent boys. and finally, an extremely rare, 1st edition printed copy of the us constitution will go under the hammer at the other b. as in november, the auction house said friday. the document is from the 1st official printing of the final tax of the constitution. it's believed there were roughly 500 copies of the document produced and were given to delegates of the constitutional convention

in 1787. now there are just 11 known copies with the one up for auction being the last in private hands. document last sold for $165000.00 in 1988, but said to be estimates, estimates the value is between $15.00 and $20000000.00. today, the seller dorothy tapper goldman says the proceeds will go to a charity created in her name to further the understanding of democracy and the best fit for this time even catch boom. but the on demand on the portable tv app available on smartphones and tablets through google play and the apple app store by searching portable tv, portable tv can also be downloaded on newer model, samsung smart tv, then roku devices, or check it out at portable dot tv what do you next time me ah,

ah, ah, working machine. she popped in. she said, well, i'm getting ready to go shopping for christmas. and we, we said there was a good device to another, shooting another safe part of american life shattered by violence. the gunman was armed with an a r 1570 automatic rifle. when the issue comes home, it's time to act when we're filing on this issue. the other side, when by default the lady that lived over there was walking one of the dogs. why do you wear again, were you scared? and i took it off and i think the people need to take responsibility in their own hands and be prepared if those kinds of weapons were less available. we wouldn't have

a lot of shootings and we certainly wouldn't have the number that i use the was in the you condemn rushes, parliamentary elections as the few remaining votes. so counted success and multiple injuries and choosing a university and central russia. eliza tucker is under arrest with one student describing what he saw. my friends and i were spending at the parking lot near dance and we are a gunshot journey. and so the shooter extending 20 meters. the way with his shop done, the suspect was arrested, was single police officer who entered the building off the heard about the shooting . he risked his own life to stop them.