i this is your media a reflection of reality in a world transformed what will make you feel safer. type relation to community. you going the right way for you being that somewhere. which direction? what is truth is in a world corrupted. you need to defend the join us in the depths will remain in the shallows. ah, in the i don't

know. i mean there are some steps in there were rescuing the food that they were not scavenging or were rescuing resources that are still good. this is best buy march 21st, which is in 2 days. all these potatoes, holla, daniels, 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. this is them by someone business. sure you can't afford to miss. i'm rachel blevins and i've read the board and watch. i said, coming up the federal reserve had spoken and we'll keep it easy monetary policy in place for the time being. but just how soon could we see the paper well, disgust,

plus the chinese ever grants saga has taken a small step back from the edge of the property giant has met a key debt deadlines, emerging market contagion fears. what does the future have in store? then the world of crypto is prepping itself for potential regulation as coin base confirm, plan to pitch federal agencies on what the industry rules should be. we have the facts here today, full of divert in the china adver grand group, and now it's wednesday. it will avoid defaulting on billions of dollars in debt temporarily easing concerts of a broader contagion effect in the world's 2nd largest economy. the developer says it has resolved a roughly $36000000.00 payment due on thursday thing. the deal was done by

a private negotiations. the details of the situation were not disclose and questions are made about the future of an $83500000.00 in bond interest payments due the same day in june, ever grant reported more than 300 $1000000000.00. now standing debt with more than $37000000000.00 due within the next 12 months. that same report showed the company having less than $14000000000.00 in cash on hand. so do the math there. meanwhile, the people's bank of china has injected nearly $1900000000000.00 into the financial sits about wednesday. the nation central bank made similar moves, friday and saturday last week in an effort to improve sentiment. as global markets had taken a hit amid the debt crisis. so what kind of fact might this have on the chinese academy moving forward? while the discuss, let's bring in, professor richard will host of economic update and author of the thick this is the system when capitalism fails to say, but from pandemic or itself is always

a pleasure to have you on professor well, but i want to start with these cash injections from the central bank here, the chinese government's recent curves on the real estate sector played a role in the ever grant crisis. and yet many analysts believe the government is going to continue to step in to help them out. what are you seeing here and what is the government's role? well, i think the observers are correct to the government in china in no way, especially at this moment in its history, is going to allow any kind of general collapse. they just applied to join the asia, t p p equivalent. they are relishing their emergence as the number 2 economy power in the world, rapidly catching up to the united states in a way this very crisis of firms that because here is a real estate developer in china having a problem meeting a debt and the whole world is paying attention the whole world is worried about the

consequences. a part of them loves this because it's a kind of recognition of very importance. but between the private deal that solve the domestic debt that they had to pay. and the deals now being worked out some publicly, some privately, for the foreign part of the debt. i think we're going to look back on this as a bump in the road, but not much more. now there has been a lot of talk about a possible lehman moment here. but wall street analyst are now downplaying. the idea that this could be like the housing crisis we faced a decade ago in the united states. how are these 2 situations different? they're different because it's a much more contained phenomena. it's in one particular industry. it has to do with the chinese government's program of pre building. i'm assuming people are familiar,

china is doing something nobody else has ever done. they build the entire communities with complete with high rises before. there are people in those communities, they're pre building. and so they borrow huge amounts of money and then they move the people gradually into the housing, to avoid slums and all the other kinds of things that have been problems in other countries. so this is a special industry with special financing arrangements and a government program that they're carrying out very little chance that the government would allow its prestige to be questioned by not coming in directly and indirectly to fix the situation to get the economy through. and that's why i'm quite confident that the folks on wall street in this case are right. this is nothing like allowing a lehman brothers an unheard of thing at the time for odd and 25 year old bank to collapse. and by the way,

that consensus is that that should never have been allowed to happen in the 1st place to leman and which is why it didn't happen to others. that chinese learned that lesson also. and fascinating information there, professor was absolutely. now i want to ship to another story regarding china. last week it applied to join the new version of the trans pacific partnership, the 11 nation trade pack, which includes countries like japan, canada, and australia. it's unclear if they will actually be accepted into that deal, but why the beneficial for china to join the t p p basically. so it isn't excluded from both the existing t p, p and whatever future evolution it shows the chinese want to be able to export into those countries. they want those countries to look to china, which is the natural growth for them for their exports. they don't want to be excluded from the arrangements. number one,

number 2. there's lots of suggestion that the united states, if not immediately, we'll soon realize the mistake mr. trump made and go right back in mr. trump had taken the us out of it. biden is probably going to decide to go back in and they don't want the united states to mention the cold war with china to become a problem for them in their trade relationships. i don't think they're terribly worried. there is such an overwhelmingly dominant economic reality for all the countries in that region that with or without a t p p. they're going to be part of their history there. but i think it's easier for them. it's less trouble it for the united states, a little bit for them to get in there. now i want to touch on that point that you made there about how the trump and ministration handled those negotiations when it backed out back in 2017. do you think that that set the united states back and is

it possible that it can still get in? i mean, where does all of that stand? well, i think most of the world, and this is, i know difficult for americans to swallow. but for most of the world, the trump regime was a mystery, wrapped in an enigma. if i can borrow another statement to commentary, it was weird. and what he did was weird and the result is then i think that most of what he did is going to be undone by the, by biden, and by whoever comes next. because it doesn't make any sense to them. so i think there is a, in the united states will apply to get in and will in fact be allowed to get in to little more questionable how hard the united states is going to try to use this as a platform to block or for china. and i think the maneuvering was for the chinese to get in 1st to make it a little harder for the united states to wage cold war in that particular arena. to

why that's very interesting, because you'll remember during the obama administration, unions had pushed heavily against the trans pacific partnership, enjoining that and of course, the bite administration has relied heavily on union support as well. so it's going to be interesting to see where that might go. professor richard. well, thank you so much for your now that today. thank you. and we had did the federal reserve as officials wrap up their monthly meeting chairman jerome powell again reference, soaring, inflation, admitting they've been higher than expect that he placed the blame on the ongoing supply chain shortages and said he expects the rising prices will only be temporary inflation is elevated and will likely remain so incoming months before moderating. as the economy continues to reopen and spending rebounds, we are seeing upward pressure on prices,

particularly because supply bottlenecks in some sectors have limited how quickly production can respond. in the near term, these bottleneck effects have been larger and longer lasting than anticipated, leading to upward or visions to participants, inflation projections for this year. now all of this comes, reports have surface revealing the dallas fed president, robert caplin, and boston, fred president, eric rosen, grand, actively traded stock last year, while they were also in charge of setting monetary policy for the country. so where does the agency go from here? and how will it's actions or lack thereof affect the average consumer during this chassis, daniel d martino, booth c o of cool intelligence. danielle, it's great to have you back on the show today. and i know we're just listen to what chairman powell had to say. and right now the expectation is that the fed won't announce plan to start tapering. it's $120000000000.00 a month and bon purchases until november. so why the way,

when we've been talking about talking about taking action for months now? you know, i think that i think the chair power even above and beyond obviously so many of the other members of the committee who are already clearly worried about inflation. if you look at, at the so called dot plot and see that anxiety, that is really almost uniform at this point i didn't care about does. does harbor some concerns about a lot of the drama that's going on right now in washington d. c. we have a very real, very unresolved debt ceiling, which means that the united states treasury cannot issue bills, bonds, and notes. even if there was to be legislature passed that legislation, issues we passed tomorrow, there'd be no way of paying for it. and it really is not in the feds tradition or purview to step into a political drama, a political morass, and change policy in the midst of that. and i was

a little bit surprised at that subject wasn't raised because again, that i think is part of what is holding power back and making him reticent despite the obvious signs that inflation has become unhinged. and i want to clarify what you just said there because you make the point that the, it's not really that bad job to get involved in kind of what's happening politically when it comes to a debt ceiling a budget. we also have usually have a market sell off that we saw earlier this week, although again, it's not their job to prop markets up. and we also have the china ever grand saga taking place right now as well, which is creating concert. so, i mean, aren't they just supposed to be making sure that the economy is running smoothly and the monetary policy matches what we're doing? so don't think, should they be taking some of those things out of it? you know, and in theory they should be extricating a lot of these variables. a lot of these factors, a lot of these unknowns out of their policy making, but we always have to bear in mind and it actually isn't the verbiage that it is

the fed duty to make sure to ensure that there is financial stability in the system . so it's not necessarily one of the to mandate, but again, that is part of the feds per view is financial stability. but clearly markets have long since gotten past any concerns about monday they've written off ever grand, and it's in its potential to to set off systemic risk. and we've seen stocks more than come back from those losses and celebrate the fact again that j. powell appears to be in the driver's seat and not quite prepared to begin tapering purchases again. that's all that markets need to celebrate is just to be told that the liquidity tap is not going to be turned off. yeah, and i know, even as we hear from other fed officials who say that they're concerned about what powell is doing right now, he still continues on not on the same path. now i want to bring up another story here, which is what's going on inside the fed. we've since heard from senator elizabeth warren, who is calling food for the removal of at least 2 fed officials. after reports

revealed, they traded stock last year, while also setting the country monetary policy. what kind of action can be taken in a situation like this? and are these practices likely much more prominent than we realize? well, i don't, i think that we would know if they were more prominent because every single one of the 12, a federal reserve district president has indeed released their financial statements . so we know at this point what has occurred. well, i think that what powell and he said that in the press conference, i think that what he's addressing is the non uniformity, if you will, of how each better reserve district approach is what isn't, is not appropriate in terms of trading securities, especially trade, individual security or in the case of a dallas for president kaplan, actually buying an exchange traded fund benefit from the feds bond purchases. so i think what we, what needs to be addressed here. and remember,

i was inside of the fed for 9 years, is that there needs to be the general counsels of each individual federal reserve district need to have one solid set of rules and strictures that dictate how everybody who is in a leadership and a voting position on the federal open market committee can and cannot trade. so i think it is definitely time to reform these measures. i don't know that that senator warren is going to get her wish, of ousting these presidents that certainly out of her purview. yet really be interesting to see what comes out of this. and of course, if we do end up getting that taper announcement finally come november, danielle the martino who thank you so much for your time and insight. thank you. and the department of justice has announces investigating the video conferencing platform. zoom over is acquisition of the cloud, customer service software company,

$59.00. well, those companies are based here in the united states. the d o j says it's putting the nearly $15000000000.00 deal on hold over national security concerns. this is just one of the investigations the us government is pursuing against zoom over what claims are substantial operations in china. the company that went viral last year for making it possible for many americans to work from home and also go to school from home. is now the subject of federal investigations in both new york and california over the way it stores data and it's interactions with the chinese government room has cooperated with the investigations while also noting that its company is based here in the u. s. and it's c o is a us citizen, for now it remains unclear what will be the result of the investigation as the d o j looks to challenge this deal with $59.00. and it's interesting, i mean, this is something similar, obviously why way was a chinese company, but it's like if you have the operations in china, you are going to face government scrutiny here in the united states. that way,

at least it appears in recent years, yet it isn't your thing when they talk about the protection of our data, how they're kind of putting that magnifying glass when it comes to china. well, at the same time, not talking so much about all of the companies base here in the united states that take our data. and i was thinking the same thing is when you look at all the burgers of acquisitions that happen, just united states companies. they rarely are concerned with the data. it's just about maybe monopolized stick traffic. absolutely and time now for a quick break. but when we come back coin basis plan to submit a crypto exchange framework, the u. s. government in the coming weeks. but what can we expect? 1000000000 on the other side, that's going to break here. the numbers of the the me

were told the new strategic alliance comprising the united states, the united kingdom and australia is not directed against china. but of course it is . washington is develop numerous alliances against staging, but arcos has a new killer dimension tensions arising in the pacific. and no doubt china will react ah, working machine. she popped in. she said, well, i'm getting ready to go shopping for christmas and we recently there was a going to buy another, shooting another safe part of american life shattered by violence. the gunman was armed with an a ar 15, semi automatic rifle. when the issue comes home,

it's time to act. when we're filing on this issue, the other side wins by default, lady that lived over there. i was walking one of the dogs. why do you wear again? were you scare me? i took it off. i think the people need to take responsibility in their own hands and be prepared if those kind of weapons were less available. we wouldn't have a lot of shootings and we certainly wouldn't have the number. and i welcome back. in the next few days, coin base is expected to propose is preferred framework for regulation to us officials, according to reports, the crypto exchange plans to argue about the definition of what a security is within the united states. this as us regulators are looking to crack down on stable coin and even warning that the entire crypto market is in danger of

collapsing the economy the same way the derivatives market did back in 2008. joining us now to break all the john, i must co host an krista and crypto analyst bend on and kristi i kristi, let's start with you here. so what do we know about the proposed rules that quin base is hoping to pitch? well, we don't have much details as of now. all we know is that the main detail and the proposal would be to clarify which should and should not be defined as the security within the us. and this is most likely in response to point having to stop their plan for ruling out a crypt lending program. we said goodbye security. the regulator is apparently comparing their product to stock or certificate with interest which are the securities under the per year. so they actually have a long history, a trying to create a framework and tools in order to standardize how changes approach crypt listings and product on the us. it was

a founding member of the crypto rating council in 2019, which was an effort to try to create a common understanding of how any given could the current the resemble the cure it . so the group rated crypt queen one and 5 where one is definitely not a security like this one. and 5 is something that did appear to be security. so the fear is the actually publish this approach and a score card that projects can use for the asian last year. so it has definitely taken many steps. where do you try to work commonly and also educate regulators in the world? because as of now, the only thing governing it is how you have something that is somewhat outdated. so the fact that point is publish methodology. and the score card shows that we're defining features and nuances as to what should be considered a security for the fcc to just throw everything together. i think everything security is just reach of their power and authority. and now brand michael to the acting chief of the office of the comptroller of the currency argued tuesday. the

crypto currently in the centralized finance may be evolving into threats to the financial system in much the same way. certain derivatives crash the economy in 2008. do you think that the fair assessment? no, i think it's actually a ridiculous assessment if you take it at face value of what he's saying, look, the derivative derivatives market crashed the economy in 2008. why, because of the fact that the government essentially allowed these institutional players to break the rules and to grow without any controls on the right. the opposite is actually happening on the crypto side. it's not that the crypto currencies are growing out of control and there's no one to regulate them. they're being over regulated right now, to the extent that no one seems to know what the regulation is, right. and so, so you have various different forms of crypto currency that are being essentially run down and tackled from behind because they were supposed to be a security. and now the fcc says they're not,

they were supposed to be utility. and now the fcc says they're not so it's very confusing, but something else that he says, which i find very interesting is he's basically saying there are people who are die hard crypto enthusiasts. i think, i guess you have a couple of on your show here. and then those people, he says are the, are the mindset that they believe in this crypto. however, you have mainstream users who are coming in and they're not so die hard. and so they may freak out. if things don't go their way until they'll, they'll cause disruption in the market. that's absolutely true. i think that is true, but to what extent it will that crash the u. s. economy? i think that's a huge lead. meanwhile, you know, companies like black rock buying up all the houses in the country and nobody seems to think that's a problem. well and again, yeah, if you will, if big companies buy too much crypto and lose it, and that causes an economic crash. seems like there was a bigger problem here at hand. kristy, how to stable coins fit in this debate. why there's so much attention. unstable coins right now. already know that kind of thing,

a stable point or threat to the current financial system because the points are essentially point pay to the us dollar things like us b t, u, v c u, b, u s, the crack cetera, the people started using they will point in new of actual dollars, then essentially the country and the fan will have just lost their power because the treasury is the only body in the us that can issue legal tender, but it's stable point became widely accepted, exchange is used then technically the treasury is no longer the only issue that's the real reason that they want to try to rain because they lose everything. but then of course, the other reason that they're citing include things like the fact that they will mine are not necessarily trustworthy as the company behind the issue, we do not have a one to one ratio as private companies, the issue and companies don't need for that at the high where and what their reserves. so full circle which is the issue of us dc and tether. the issue or d,

p has separately defended the level information that they share with the market and how they've invested the reserve corporate debt commercial paper and other liquid market with cash. so they said that that could be a risk to the financial market and the market stability as the industry rose. and is there any sort of breakdown in the city that could cause a massive i'll come back to control at the end of the day now, but i want to bring up another story here quickly, which is that robin hood is now testing a crypto wallet. and crypto currency transfer features for its app, which would allow customers to send and receive digital currency such as bitcoin. now there appears to be a waitlist page for users signing up for this wallet feature. so how does that move or how does this move rather fit in a tighter regulation? well, i think the regulators would love it right this. this is exactly what they would hope for all crypto currency for all time. you have a few companies like coin based on robin hood that will essentially become the

actual wallet. they will be the one to, to the buying and selling the crypto. you think it's yours? it's actually not. it's sitting and robin hood's wallet. and so if the government decides that you're not paying enough taxes, or that if you're skirting something they don't like, or that if you're involved in some kind of a legal transaction, they can simply take the money out of your account because it's not your account. it's robin hoods, wallet and so i would just say is it as a warning kind of a closing warning here. if you believe in crypto currency you want to be involved in it, do not make a coin base or a robin hood your primary wallet because it's not yours. it is there's and they can do anything they want with the currency inside that great information as always they consider boom bus, bent on and christy, i thank you both. thank you. and that for the time, you can catch boom by on demand on the portable tv app available on smartphones and tablets through google play in the apple app store. by searching portable tv, portable tv can also be downloaded on samsung, smart tv, and roku devices, or simply check it out at portable dot tv. well see you next time. mm

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i understand. i join me every thursday on the alex simon show. when i was speaking to guess in the world, the politics sport. business. i'm show business. i'll see you then. me . oh right now, there are 2000000000 people who are overweight or obese. is profitable to sell food that is pricey 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 obesity epidemic? it's corporate, me. ah, the the, the french defense ministry says nato partners will revise that to teach the concepts of the alliance following a dispute over recently signed secuity deal between the u. s. u. k. adults trillion . that left france in the cold flight record e u energy prices on a huge short fallen supply. the blog is loving fires on poland for using coal and is also blaming russia for the crisis. in the meanwhile, in australia again rather wanted on hundreds of follow. cale melbourne's woman,

maurice.