and i'm friendship or, and washington coming up, supply chain issues continue to hamstring the global cobra. 1900 recovery at the european union has now weighed in on china shortage of metal material. straight ahead. we discuss the latest turn as the energy crunch effects the supply chain, and that's the only fall for the recovery process as inflation has gripped in many parts of the world will discuss the bike and whether hyper inflation could be on the horizon. then the rack that was raised on for the u. k. as the island nation remains at odds with the view. we'll take a look at the latest trade talks and whether a fishing more is on the horizon. we have a pack show today, so let's get started. and we leave the program with another threat to global supply chains. recently, much of the focus has been put on backups here and us ports in california with suggestions. so the u. s. national guard may need to be called in to get products moving, but another supply chain crisis is servicing in europe as e. u. leaders are sounding alarms that

a shortage of magnesium coming from china could take a toll on the blocks economy. now china produces iran, 87 percent of the global supply, or the essential component for aluminum alloy use in cars, plains and electronics, and roughly 95 percent of the meg needs in europe consume. german chancellor angle and merkle brought up the issue on thursday during a summit of you leaders, according to sources familiar with the matter quoted by several outlets. meanwhile, a dozen business groups worn late last week of an imminent risk of europe wide production shut down. as they only have enough of the metal to last through the end of november, chinese producers of course have cut output to save power and energy prices have skyrocketed due to the crunch. we've talked so much about in recent months. so what does this mean for the already strain global supply chain of just let's bring in boom bus co hosted investigative journalists, ben swan, and john quotes the dean of the miami, herbert business school. thank you both for being here. d quotes. i want to start

with you how big of an issue is this magnesium issue and what impact could it have on the recovery in the us actually in the blocks largest economy in germany, which is so manufacturing, industrial rely. yes, thank you. it's symptomatic of a very substantial issue. i would say that we are now in a global supply chain pandemic that has every risk of being as severe an impact on the global economy as the coven pandemic. the fact of the matter is supply chains off in a great state of disruption, starting with commodity pricing and commodity availability at the front end of a supply chain. it's rather like as soon nami, where you hear about the su nami, but it takes certain number of days to actually hit 4 hours to hit sure. and we have not had it hit shores yet, but it will hit and it's not just

a matter of the automobile industry in germany. it's a matter of manufacturing more broadly on a worldwide basis, being disrupted by the mismatches of supply and demand throughout the world economy . yeah, surely seems to be mismatches all around. and now been, i know we've had multiple analysts on the show who point out that this is not a global supply chain issue. it is a us supply chain issue. now with these additional issues regarding magnesium production, how much is the energy crunch, affecting supply chains all around and how does it stand to have an exact, as we go into the holiday? yeah, well, i think what we have is a convergence of different issues, right? so one, yes, it is true, there is a u. s. supply chain issue specifically at the ports, as we've talked about in california long beach, in the portable author, angeles and getting goods out into the rest of the country as well as getting, you know, 2000000 shipping containers floating in the ocean into port. that is one issue,

but the energy issue with a separate issue, right. and that is also creating problems with creating problems on the production side. the magnesium issue is a separate issue. and so i think with the court has mentioned you, i think it's absolutely correct that we have a kind of a convergence of these issues which are all contributing to a bigger problem. that doesn't mean though, that you can't resolve some of these issues rather quickly, rather than allowing everything to continue to cascade upon itself. so for instance, we talked about this last week. i still don't have an answer to what i've been looking for one, why the u. s. does not begin moving some of those cargo ships away from california and to other ports instead of continuing to wait for the port of long beach and the port. los angeles to be able to take in the 2000000 shipping containers, send them to other ports and get them into the rest of the country quickly. that is still not happening. the magnesium issue, the energy issue in china with some factory shut down for a few weeks. those are separate issues that have to be dealt with separately. doesn't mean you have to stand and sit on your hands essentially,

while. busy while these ports are clogged down, right. and it has been interesting to see the binding ministrations response to this even though they're saying yes, we're going to open the 4th up for 24 hours. it seems like at least we're hearing over and over that there's a lot more that could and should be done. now dean quality, we also heard from the ceo of wells fargo, sudden a recent interview that he believes, many of the supply chain issues will not be solved for at least 6 to 12 months. so we're not just talking about the holidays we're talking about well into 2022 here. what's your take on that? he's absolutely right, and i would say those 6 months. so it was quite frankly optimistic. and as long as the supply chain problems continue, the risk of enhanced inflation grows ever more severe. and inflation next year could potentially approach 10 percent as a result of these continuing disruptions. let me just give a little bit of color to what's going on. because of the disruptions, if you,

let's say, holding a 1000 tons of magnesium, you are thinking, why should i sell it today? because the price may be better tomorrow. and therefore, even where supply does exist, that's being withheld from the market. at the same time, on the bios side of the equation, buyers so skittish about not being able to get the goods and supplies they need. they are placing multiple orders for the same commodity with multiple suppliers and the all in the hope of one of them coming through. and so the demand forecasting and the supply forecasting that is essential to a smooth running supply chain worldwide, is being totally disrupted by, by a behavior. and seller behavior is opportunistic in nature, and this is not going to go away in the short run. it's going to be very difficult

to deal with this, and the result of these supply chain shortages has got to be inflation. there's no getting around that and the quote before we go, i have about 30 seconds left, but i just want to follow up on that. is there a fix? i mean, it seems like, you know, we've talked about the president biden thing we do, is you, us military to move cargo off the ships in california. but, you know, when we talk about it globally, is there any fix or does this just have to run its course? i think i think in large measure it has to run its course. i do believe that it should be possible for buyers and sellers in specific industries to be working together. but one thing we don't know is how the energy price movements a going to affect the overall situation where there are energy

shortages. obviously energy prices go up and that is immediately passed through. now, part of the problem has been also that due to call 26. there's been a lot of pressure this past year for energy to go greener in europe and even in china and india and china and india have had to back off of shutting down coal fired plants, simply because they're worried about energy shortages and potential lack of heat for millions of people during the coming winter season, so those cold fire plan, so now back on stream that should help in the short run. alleviate some of the supply shortages coming out of china plants. excellent insight, boom bus, spend swan and dean john, quote, my year business school. thank you so much. thank you. and if you've followed

any news coverage in the last year, you've likely heard the term inflation more times than you can count. probably said it a couple times the last time, but in the united states and for that matter, the entire world headed for hyper inflation. well, that may be the case. if you ask twitter in square c, e o jack dorsey, just the twitter over the weekend to warn quote, hyperinflation is going to change everything, and that it is already happening. he then responded to another user to say, he believes hyperinflation will happen in the u. s. soon and so the world now of course the threat of hyper inflation sparks concerns not just that prices will continue to rise, but that they will rise to the point where the government has no control. and the dollar becomes virtually worthless. but treasures treasury secretary janet gallon claims everything is just fine and the government is not about to lose control of inflation. she noted that the current inflation we're seeing which has brought consumer prices to 30 year highs, is only expected to last until maybe the 2nd half of next year,

leading many to wonder just what the promise of transitory actually means anymore. so joining us now, i guess the latest been bus, co host, christy i and peter shift, chief economist and global strategist at euro pacific capital. christy, let's start with you here. i mean, the reaction to dorsey's comment has been sort of surprised that he would use the term hyper inflation. do you think that's an accurate warning? given everything we've seen over the last year? i mean, it might have been a little surprising for people to hear dorothy colon hyperinflation, when most other investors and economists has just kind of called it inflation. but dorsey isn't just any investor, he's also the see of twitter and square. so he has a different perspective and a different timeline. you don't become the ceo of a revolutionary social media company and of this rapid fin tech company by following the heard. so he has a different mindset for thinking mindset of how the landscape will look and change 5 years from now, 10 years from now. and he builds towards that. so he has

a much longer time horizon, envision than the average investor, or even those like cuban, because cuban doesn't actually build products. and now peter, when we talk about inflation, we've heard the fad. say it would be transitory. then they said it would cool off this year. now they're saying maybe it won't be until the middle of next year. it just feels like they keep moving, the goal posts, so to say, over and over and over. so how can we really trust the prediction of actually element or the fact for that matter? well, you can, you have to remember that when you listen to any of these fed guys talking are gals . it's really just propaganda. look back to the sub prime days. when ben bracky was saying that the sub prime problems were contained course they weren't contained. but he later admitted in an interview that he really didn't believe that himself, that he was just saying what needed to be said in order to calm the mar markets and kind of support the incumbent administration. so anything that comes out of the fed

is really meant to placate the markets. they're never going to admit that inflation is a problem because it's a problem they can't solve. so instead they're going to pretend that there's nothing to worry about. but as far as dorsey's comments, hyperinflation is certainly a worst case scenario, but it is no means a guarantee. i mean, we're certainly going to have very high inflation. some people may consider it hyper inflation, but textbook, you know, it probably won't be, but it is a real risk. i mean, it's not that there is no chance of hyper inflation. there is a chance, a chances above 0, but hopefully the central banks will do something to avoid that outcome, but they're not going to do anything to avoid the worst inflation we've ever experienced in this country. far worse than anything that we went through during the 1970. now peter's saying with you, i mean we know that concerns over the stability of the dollar. typically we need to increase interest in inflation hedges, especially when we're talking about inflation, hyperinflation,

whatever it may be. and of course, a lot of times when people are talking about inflation hedges, they think of gold. now we saw the goal of hit $2000.00 and out back in august 2020 . now their predictions we could see $3000.00 and alex, do you think those possible? well, i think we're going to go a lot higher than that. and not just goal, but lots of metals and commodities in real assets are going to see price appreciation with inflation. of course, if there's hyper inflation, the price of all these assets goes to infinity, right? because if the money is worthless, then it doesn't matter how much money you have, you can't buy anything. also, all prices are going to be going up. but i think as a historic or traditional form of a hedge, where you don't want to be in an asset like a stock or real estate, you want more liquidity, you want more stability, and you want to own a commodity that's easy to store. i think a lot of people will be looking to golden silver as a way to store their dry powder when they know they can't hold currencies,

especially the us dollar. all right, chris said i know when we talk about inflation hedges and we talk about gold. we got of, of course give you your say because when it comes to inflation hedges, j. p. morgan says some institutional investors are turning to bitcoin over gold and billionaire investor, paul, tutor, joe says crypto is winning the race against gold right now. what's your thought on that? i mean, it really is. i agree with him in the market, apparently also agrees. gold is as an investment, that hedged against inflation would generally rise along with the rapid growth in consumer prices. but instead of goal actually last 8 percent over the past 12 months, compared with big point, 437 percent one year game. so in this latest no, by j. p. morgan, institutional, or not allocating more towards bitcoin, than gold, with investors like kevin o'leary, saying that his crypto holdings now outweigh the allocation of gold in his own portfolio. so it's really nice to see the institutional finally starting to appreciate that point as a store of value. bitcoin bowls, how long?

how did it as a hedge against inflation? and that topic is now more relevant than ever as enormous stimulus packages have kind of increased the global money supply. so again, unlike the dollar, bitcoin and other criptos cannot be valued by a government or any central bank distributing too much of that. and that's why big coin is the only currency that is not controlled by any central authority and the supply is limited so that they can only be ever 21000000 bit coins in exist. peter, nowhere did you have the problem with thinking that big point is a store or value or inflation hedges, because big quite has absolutely no value to store. it has no relative price in relation to real commodities or other assets. yes, big client has gone up the goal, but so a lot of other speculative assets in this mania big one is not going up as a store value or inflation head is going up purely as a speculative token. just like the other, 13000 crypt occurrences are all caught up in this mania. but once the world really

is worried and looking for a safe haven or store value, they're going to dump bit quite another criptos as quickly as they want to get out of their currencies. because none of them have any value. and in fact, bitcoin may re, when the race to the bottom over the dollar or any other fee out of currency. so if you're really worried about inflation and you want to store value, forget about any crypto currencies including bitcoin, and just look to real assets with real value in particular, golden silver. all right, unfortunately, we wrong. what is the value in gold? if not jewelry, we barely use any golden so we can build and electronic even that. because you can't make any big jewelry out a big one, but gold isn't metal. you may not understand this, but it's an actual metal in all sorts. right. histories is the best conductor of electricity, golden, vital, valuable, precious metal. we've been using it for 5000 years. so you can certainly think goal

is worth all is just because bit quiet is worthless, right? all right, way to, to have they have nothing in common. we're going to have to have been right there. i know we can have this conversation all day. boom, buzz, christie, i and peter ship of euro pacific capital. thank you so much for your time. time now for a quick break, but when we come back, the fight over post wrecks, the regulations continues. as frank fishermen threatened to take action against the u. k. will discuss next. and as we go to break, here are the numbers at the close. ah look forward to talking to you all. that technology should work for people. a

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that's best getting away with murder with welcome back. the u. k said, saturday, the negotiations with the european union over the northern island protocol husband encouraging bought a gap still remains the 2 sides are still. 7 hung up on how to implement customs and safety checks as the e u. northern ireland border. the checks have disrupted the transport of meet gary and medical products into the nation, but the so called sausage wars are not the only post breakfast issue causing trauma . france is set to decide this week whether to take action against the u. k. over

access to fisheries. the dispute stems from a limited number of licenses being given for fishermen to fish, british waters, tell it to re measures would come into effect sometime in november if the situation is not resolved by the end of this month. and joining us now to discuss this important topic is hillary for which we're member with the british american business association. now, hillary, when we start with the fisheries here, what exactly is the central issue here? how long do you have with the fisheries? this goes, i mean, big picture goes back to 1972. also when to join the e u, the u. k. gave up so much sovereignty sovereignty in terms of ocean, the fishing right for the waters. so some of these fishermen, these french fishermen have been fishing in these waters the decades and for generations of their family. so given the agreement, the agreement, the proxy agreement, it was that those fishing whites will be phased out to 2026. in fact, less licenses given to french fisheries,

a fish fishermen each year. so what is the issue right now to bring you up to speed it is that french fishermen have applied for these licenses? well, according to lord frost, he's the british bricks, minutes for he has said that 98 percent of all those applications have been fulfilled and they've been licenses issued the french so want to fish them more. and the french fishermen have actually threatened that they will block cal, a don cook the ports of kelly, don cook and the channel if they don't get more fishing lights. but those waters are sovereign to the u. k. the u. k. has on the agreement so far and they've issued those licenses, 98 percent of them. wow. and i know when it comes to these threats, we're also hearing that france might go the sanctions route with one possible action being to prevent you. k fishermen from offloading in french, harvard, and at one point threatening to increase prices to export french energy to the u. k . although officials said they wouldn't just cut off power altogether. so what is

this likelihood of french retaliation at this point? yes, you're totally right on all those points. rachel, and in particular, the electricity issue is with regard to the island of a jersey, which is right off the french coast. they've actually somewhat intimated that they might cut off the electricity to jersey and lead them stranded without any heat over the winter. of course, which would be an absolute legacy thing to do. i think you're less likely to see state action because my crone, of course, he has to like blow his big horn because he's going to be elected next year. and the french fishermen are getting frustrated that there isn't any action you're far more likely. i think to see french fishermen take it upon themselves, which they threatened to do, and block calais, don cook and the child. however, of course, don't forget what the u. k. could do the u. k. could then rescind or the licenses licenses that have been granted. and all those fishermen have their licenses, they might go and stop the other frenchmen that are protesting a blocking the ports. so i think what you're going to see eventually is the french backing down and living by the agreement and sorry, but that is what was agreed to,

which is that the u. k. waters would remain sovereign to the u. k. except for those fishermen give em, given licenses and going back to the northern ireland protocol, which we started this whole conversation this through the whole segment with to say, you know, we're getting deeper into this. it doesn't seem like there's necessarily an agreement being made. although they said that, you know, conversations were fruitful if you will. yeah. i mean, is it looking more like we're going to have this problem go into the holiday season . it actually affect the, the thanksgiving with no turkey. the house with, i guess. yeah, yeah, nothing. i know, but there was a very big holiday season, holiday season or christmas season coming up in the u. k. couple of things you write on this, the article 16 has been threatened. i think what has happened is that the e u has come back and they have dropped about 80 percent of the regulations in terms of the checks on goods. that was what was causing a bottleneck. what has happened is you had a bottleneck. we talked about the sausage was, which was the sort of the symbolism for all of the cold meats, from the u. k being check going in to northern ireland,

but also medicines. this has been really a terrible situation where the medicines were held up, going into northern allen hospitals, et cetera. you know, a long time ago i said this whole issue should have been called accept, not breaks it because northern ireland is part of the u. k. and lot ross has said, we are one united kingdom we're going to remain one united kingdom, the law sticking issue is this european court? what law process said, quite rightly is that why should the european court, a court from one side preside over an issue that both parties have what he is advocating, what the u. k is advocating is an independent quarter to modified to moderate in terms of any disputes or issues that sort of the line in the sand. the red line for the u. k was not having a european court of justice, intervene in a u. k. issue deadly. some to walk into the following report, which of the british american bits association. thank you so much as always slash as always. and finally, if you're looking to buy some bitcoin, there are dozens of different options to choose from, right?

well, that may now include your local wal mart if you have here in the us. that's right. the coin start kiosk route, typically go to exchange your share, your spare corner, and rather is now letting you put your cash toward a bit coin purchase at $200.00 stores across the country. it's part of a new partnership with the crypto, while a company coin me, users with coin me accounts will be given a voucher from the coin star key ask for the crypto they purchased with cash. as for what it'll cost. well, there is a 4 percent transaction fee, which wal mart takes cut from, as well as a 7 percent cash exchange fee. that seems like it would be a little bit more work, right? you're going an extra step rather than just getting the app and buying it. definitely, you know, for those who are having trouble figure out how to buy it, maybe it's the easy way. but i don't know that crypto enthusiasts will go that route and that's it for this type. you can catch boom bus on demand on the portable tv app available, portable that tv will see you next. me

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