of on officials, the u. s. refuses to recognize, will get their monthly checks that doctors are now walking unpaid in hospitals with holes in their roofs, operating theatres, the shutting because there's no electricity teachers can't afford to travel to school. keeping with tradition, washington is punishing the very people who don't deserve it. this is probably the worst possible approach. and it says to me that it's the only conclusion you can draw from this is that the u. s. is trying to strangle that. the country of afghan in order to create some level of strife or instability that might provide the pre conditions a for perhaps either regime change, which would be ideal for washington, maybe, or a civil war where the western international peacekeeping force will need to come in again to restore order and so forth, so we can see another cycle possibly

a beginning. now, through this current situation, no man left behind. that's the proud slogan of the us armed forces. and yet, here we are not one, but tens of millions left behind in hunger, in poverty. and in despair. i that doesn't mean this our, i will be back and let's say 29 minutes. little under that with a look at your headline. say with us. oh it really is no thing. they can't ride on police report it in december 2020 a group of anti finishes. fill out a film crew access for 3 months. so like if people organization, if an idea that fascism must be opposed,

that you can't allow the game while they may come with that. but he says, but they can say what they believe in. we believe in helping our community. we believe that fascism is one of the major threats to the united states as gotten reuben, this is a chance to see who and teeth are really are. in order for me to extract my 1st amendment right and say that my life matter have to be on to the teeth that, that, that's all americas. we can't trust the police. we can't trust the government. we can't trust anyone except ourselves to protect ourselves in yeah, we're still in el salvador and our in san salvador. it's all popping off here. the country's into the big why as legal tanner's transformative country, transforming the people, transforming the culture and transforming the regional mike chris with

for this is boom bus one business show you can't afford to miss. i've been to want to washington coming up. jerome pal was up for another term as a federal reserve, as president biden has nominated the current head spite push back from some members of his own party. straight ahead. we're going to dig into the fresh nomination and what it means for the nation's economic recovery. and oil prices are coming back down to earth as hopes of fresh supply can help ease the global demand. but we're going to bring you up to speed on the very latest developments from the energy sector. and griggs, it continues to strain trade relations between the united kingdom and the european union. as issue persists along the irish board, we have a factual today, so let's get right to it. and we begin today with this announcement to keep things as they are with the federal reserve bank. yes, president biden is set to nominate federal reserve chairman jerome pal to a 2nd term to lead the central bank. so let's break down exactly where things stand

at this point because keep in mind, it is the fed policy of printing u. s. currency non stop and without concern for impact of the economy. that may be the biggest single contributor to skyrocket in inflation, inflation that is not transitory and it is here to stay. so here's the statement from the white house quote, if we want to continue to build on the economics a success of this year, we need stability and independence at the federal reserve. and i have full confidence after their trial by fire over the last 20 months. that chairman powers and dr brainer will provide the strong leadership that our country needs. this was a statement from president biden on monday. so let's break down exactly what this means because it means a lot and who better to talk to the former fed insider danielle dean martino booth . danielle, thanks for being here. so jerome pal will say on is the fed chairman. it appears and president biden will also nominate for governor leo brainer. does the vice chair of the central banks board of governors, but in the statement that we just read, president biden the same, we need to build upon the economic success of the past year. it's obviously spin,

no doubt about that, but come on, economic success as a result of fed policy. what am i missing? it doesn't seem like you're missing a thing and by the way, thank you so much for having me on this afternoon on this historic day. you're not missing anything. there's to call this year at economic success when a pound of bacon yesterday, the grocery store was $9.49 is absolutely ludicrous. inflation is eating americans alive, especially though the lowest income earners inflation is a regressive tax. and it's also hurting the, the fixed income, the retirees of the world, who they don't have the capacity to spend more at the grocery store. they don't have the capacity to fill up their gas tanks. when when gas prices go up, they don't have the ability to pay a much higher rent if their rent is increasing by $10.00 or 15 percent. they're on fixed incomes. so i think what he's, what he meant to say was that he wanted to ensure stability in terms of the fact that the stock market not going down, which is obviously part of the fits mandate and,

and in accomplish through the conduit of, as you said, keeping that printing press going 247 monetizing every last penny of us debt. yes, absolutely. horrible. you know if you're rolling down a hill right, you're crushing and falling and tumbling over yourself. it does create instability to stop yourself at some point. and i feel like that's what they're referring to when they're trying to keep stable, stable, they fall down the hill and keep the momentum. but it would be easy for us to sit here and beat up jerome powell all day long. we could probably do it for the entire hour, but honestly the issues with the fed, they are just powell issues, right. that the very nature of what the fed is trying to do, whether it's drone pal in that seat, whether it's janet yell and doesn't really matter. they want to manipulate the economy in a way that allows for the most control over markets possible. they believe that's the answer right? the question is though, because it doesn't seem to work what needs to be done to deal with the broad scope of what the fed does to have a meaningful impact on all those things you just talked about were real. people are feeling incredible financial pain right now. well, clearly we need reform at the federal reserve. clearly we need individuals who are

appointed in the name of diversity. and when i say diversity, i mean intellectual diversity. i mean, true sources of pushback on these policies that have proven to be such failures over the years. and you know, the idea of, let's keep the continuity of j. powell going, we, we also have to, i'm going to push back a tiny bit though, because j powell does have ultimate, vito authority in the same manner as the president of the united states, in the sense that he is going to continue to push back. i think against the fed being mandated to control climate control to for climate control. that's not something that the fed has the tools to do. i think the jap, how well will stop, will draw the line at negative interest rates, or having a central bank did digital currency. so what i'm trying to say is it could have been worse. you could have appointed, so he biting could have a point. somebody who is even more devilish and would have made the progressive happy, but probably not been confirmed at the senate, but clearly,

clearly we're so far past. do i read a whole book about it? we're so far past due when it comes to fed reforms? it's an embarrassment as a nation to have an entity constantly trying to do to take away the value of the u . s. dollar. there are accomplishing it alongside fiscal stimulus gone wild, and it's hurting those who need inflation to come down the most. yeah, absolutely. and obviously what you're referring to when you're talking about the, the climate change issue, a lot of democrats overly, some of them were angry about this renal nation of drone power because they want him to step in and do that. they think this is a mandate of the fed as actually control climate change issues. but let's, let's ask you this. so because the fed what they are doing, aside from what they're not doing, what they are doing, right, slashing interest rates to 0. that's obviously happened over a period of the last couple of years, purchasing trillions with the t trillions of dollars a government debt offering to buy trillions of dollars more in loans and other assets to back stop credit markets. there are many people and i'll just be,

be transparent here, including myself, who believe that the fed is destroying the economy and believe that the fed is destroying the value of the u. s. dollar. is there any positive side right now to any of these policies? i think, you know, in the, in the, in the long term look in the long term we're all dead. right. but also in the longer term, rome fell in the longer term. the british pound, sterling fell. and if we continue to do this, if we continue to facilitate as a nation, to basically back fed policy, that creates zombie corporations. they couldn't even cover their interest expense if interest rates were even remotely normal level, instead of at the 0 bound where they are. if we were only able to get rid of the dead would in the system, then we would be a much more productive nation going forward. and we wouldn't be at, at such a risky, vulnerable point in world history. so i think we have to, to keep in mind the damage that the federal reserves policies since 2008, when they 1st went into and when they 1st took interest rates to that 0 pound when

they 1st started buying now up to 8 trillion and more dollars of us securities to blow their balance sheet, these policies will eventually threaten the stability of the u. s. economy. and i think that that needs to be addressed and recognized. yeah, absolutely. in the future, we're all dead. maybe in the future, we're all broke as well. but stand by daniel, because i want to bring into this conversation, or tabio, emergency, the ceo of openness, l. l. c, and our tabio at a time when the new seems to send any kind of news. right. seems to send the stock market into a tailspin. i have no doubt the wall street probably wanted to hear that nothing's changed. in fact, they're the ones who benefit the most. i would think from the re nomination of j pal to a 2nd term from the markets. is this good for market to certainly seem to be today . i think it's very good for marcus, at least in the short mediums have such a power has been a fantastic support for the market. i think he's on for then move the market at any

fed chairman in history. i mean, he's been actually sensational terms driving marcus up look at all the programs he put into place all the monitor policies to kids. so he said we invented on the fly . it was, it was absolutely storing it just when i thought he had run out of trixie, come and came up with a new program and buying new kinds of securities and bonds like that. so. absolutely. so he's been fantastic for markets and of course mom is very, very happy to see him. the question is, how good is this in the medium term now? and it's looking like he's reached the end of the road in his bag of tricks, i think. yeah, my expectation not audio is that if any one group in the world we're talking about here, right, is excited about this idea of more of the same or what president biden referred to in a statement as economic stability and success. it would be wall street, right, because after all the fence policies, cheap money, abundant cheap money. and if your world is to take on debt and to leverage debt, this is kind of been a dream scenario. and again, we see that with markets up today, they're very happy about it. but how does the fed when wall street off of its

increasing dependence on these policies without ultimately causing a crash? i don't think it does. i don't think there's a way to do that. actually, so i think what's going to happen is the going to start to win wall street. and when that happens, people going to run for the door and we're going to run for the door the same time . so we're going to see a quite rapid crash once that happens. one of the curves, but i think we've seen in terms the biden instruction, some of the comments that maintenance in recent days in recent weeks is probably was in the offing for us because inflation is becoming an enormous political liability for the administration. and they're gonna have to do something about it have to show that could be taking a hard line on that. and we've heard them starts making noises about looking at corporations. price gouging and increasing prices too much, and the oil companies are forcing the price of oil to i. i think they're getting very, very close to stop say, in certain sectors least oil. i think the 1st one to look at is actually pushing some of the price control into place and doing that. and that's can be very, very bad for corporations. have very difficult, profitable. if you're looking at a price control racing. i expect that to start with oil and then expand out to

other areas in the coming months. yeah, and that's going to be interesting to watch how that plays out. danielle same question to you. i'll give you the last word here. fed policies, as i mentioned, they feel like they're creating a level of complete dependency. markets can't be sustained without intervention in the future and everyone's afraid of the pain. every, every addict is afraid of the pain of cutting out dependency because there is very real pain. last word here. absolutely, i mean all you have to do do is look back to durham pals other 1st year in office 2018. so we'll have to wonder what 2022 looks like going forward. but in 2018 when the fed did try to normalize policy in 2018, when the fed did attempt to shrink its balance sheet. boy markets did not like it one bit and it forced within a year's time, it force what we now know as the power pivot in january of 2019 and markets have been going straight up ever since then. but outside of the cove, it flash recession for 2 months, recession and ko,

it's actually proven to be the best thing that's ever happened to the stock market given the violent rally that we've seen ever since then. is our investors addicted to fed liquidity? absolutely, it will not be pretty if they truly try to normalize monetary policy. former veterans that are daniel dean martino booth october emergency of open was l. c. thank you both for all of that. thank you for oil prices, we're up on monday, but still down overall from the past few weeks, there is a lot of pressure on the oil market right now. things to rising cobra, 1000 cases in europe, and then this potential release of japanese in indian oil reserves. in fact, prices of the brand and west us west texas intermediate w t i crude benchmarks, they feel more than a dollar and early trading hitting their lowest levels since october 1st. so that is good news for oil prices. hopefully it translates into lower gas prices at the pump. remember oil prices, they're all driven by speculation. and one way to get prices down is to create

supply, but not just create supply. have a plan for abundant oil. i want to talk to edwards about this former chairman of the permian basin petroleum association. kirk, thanks for being here. a benefits of having made it. absolutely. so let's run through these numbers. just the news alone that the u. s. may open up the strategic petroleum reserves and the idea that indian japan might do the same. i'm really not sure that can happen in japan because under law, there it prevents using strategic reserves to lower prices. but again, the, at least the appearance, right, of more supply should be causing prices to drop. correct? well it's, it's interesting because you've got 700000000 barrels of oil. busy in the strategic petroleum reserve, and we probably use 18 to 20000000 barrels a day to day here in the united states. so it would take quite a dumping of oil from the s p r to effect crisis and they can't get it out that fast. it may be 2000000 barrels a day that they can get it out almost your. it can only go to

a certain number of pharmacy, can't go to the east coast, you can go to the west coast. so to me it's all smoke and mirrors. the strategic petroleum reserve is supposed to be there for our nation in crisis or catastrophic climate events that may happen, which is not what's going on, or there's plenty of oil in the world. and you shouldn't be trying to affect the price a politically well in the link of the 3 using right now in the senate in the house . why that? i think that's a really important point, right? the fact that this is not an emergency situation other than an emergency of the administration's creation. we'll talk about in that in a 2nd. but on friday, just as an example, right, the white house, once again, pressing opec, an opec plus to increase production. fascinating. because many critics would say that the u. s. just 2 years ago was actually competing with opec, not begging opec to do more. why can't we get back to that situation? and is that entirely, again, a crisis of our own making when i get to the permian basin,

they're going to produced 4900000 barrels a day in the permian, which will be record in the month of december coming out. that's incredible that we could do this in this country, but yeah, we have our administration to look into overseas folks, asking them to increase production, but not put people back to work and get good clean. and that's what really is important here is the cleanliness of the oil that we produce here in the state versus coming out of opec or bruship. we're especially canada. we're in 44000000 barrels a day, easily the dirtiest all in the world. ready from how much they have to plan to burn their tar sands up there. so we should be putting people back to work here in the permian basin in mexico and mexico too. because that's what's important for this country to get jobs in the keep people work here working here in our country. yeah, you mentioned the gulf of mexico. let's talk about that for a minute because it was immediately after taking office. president biden announced a temporary pause on the new oil and gas leasing on federal lands and waters. but

then just a couple of days ago is administration quietly put 80000000 acres of the gulf of mexico. it's an area by the way, twice the size of florida on the auction block. it happened on wednesday, energy companies led by exxon mobil. they place the bids, i think on just total of about $1700000.00 acres. so the question is, this is president biden kind of forced to stealthily drop prices by doing this without actually saying how he's doing it. so he doesn't get criticism from the left in this party. well again, i think he ran on that premise that he was going to bam, all the drilling and get rid of all the oil. and this is cut off. we can't do that . you saw in britain, in the north sea, all the wind died down for a couple of weeks there. and then everybody went into an electricity crisis. we can have that happen in our country and we need been all forms of energy. we need to when we need a solar, we need the hydro power this out there. we've got to have an oil and gas until we can transition to something else in the future. but for right now, we can't cut off a gas in this country and i'm pushed it really of the,

by the administration, looking back favorably on oil and gas. this is probably the 1st step that we've seen is at least going on. but we probably some more, we don't we asking united states producer to produce this overhead and put people back to work. and we've got plenty of what we could drill in the permian and that the code has a nice feel and everyone else in here in the united states, if the administration will let us do. but the administration's not right now you, you pointed out that they're kind of looking back. but my, my question, and i'll give you one more on this, is that it's the administration to whispering back that, hey, let's go back to fossil fuels and get some more. you know, pumped because we needed to lower gas prices. it feels like if you, if you just make some noise about this and say, we're taking a hard stand gas prices are too high and we're going to fix this problem. the prices would automatically drop to some extent if you'd actually take action, because so much of it is based on speculation. i give you the last word. well, again,

you do like control the world or price in so whatever their actions are right now. also, we're see coven job back up in europe. so that's creating a softening, effective demand that's going to take place over there in another part of the world . and until we can get everybody on the same playing field, knowing how much energy we need a century, it's a very interesting balancing act that we have to have in all parts of this world. so i'm very optimistic that we're going to have good production in the states ahead . and i think it ministration of seeing that we've got to have we've got to have these jobs going forward. and i'm hoping this is just again to start the stuff under this administration. kirk edwards, formerly of the permian basin petroleum association. thanks so much. thank you. well, i'm now for a quick break, but when we come back, we're going to take you back to the british isles, where trade engine continue between the united kingdom and the european union. we'll talk about it with hillary ford,

which are the british american business association. and as we go to break, here are the numbers that the quote was driven by agreement shaped banks for those with sinks. we dare to ask a

ah well, the bag, if you watch the show regularly, when you probably know more about briggs than most of your friends, right. maybe all of them. you also know that the u. k broke away from the you in an act of self determination. and you know that at times it's banassi, which you probably don't know, but you're about to is about northern ireland. it's a british province that shares a land border with the

e. u. member of the republic of ireland and post regs it there been a lot of issues between northern ireland and the e. u. but now the european union says there has been progress in meetings to fix those issues with again northern ireland. so one of those issues who better complain that heavily toward which board member with the british american business association, hillary good to have you here, let her back to. so let's start with the kind of the biggest issue here, right, the trade issues between the you and northern ireland. what exactly are they? everything of the trade issues cover everything to do with goods and products and services. and there are, there are checks and border checks, and this is a huge issue. i'm just going to give you 3 small examples which are totally and utterly indicative of the big picture. one, there is a welsh company that exports lobsters. and when those lobsters have to go to spain, the e, you actually will stop them at the border, including that you border that is that border now in the irish, see, because the color of the ink from the inspectors was the wrong color and hold them up for weeks, well, lots of can't wait for weeks till they get to spain,

and this is what the e u is done by imposing this border. second example was that i'm donuts that have cream in them. they have to prove that the insides on sausages before they get into the e u, across that irish border. and the 3rd one is that the queen's jubilee is coming up next year and an island just like in the u. k. they want to plant oak trees to the jubilee. oh, now the soil going into northern island has to be proven that it's not contaminated . so what do these 3 small issues indicate then they indicate that a lot of these trade issues all to do with the excessive controls and excessive regulations that the e u has imposed. and that was the very reason for breaks it. it was these bureaucratic burdens that were imposed on businesses. yeah, exactly. by the way, how do you, how do you prove that the donor has cream and not sausage? right. ludicrous. maybe cut one open but there's, there's a bullying that's happening here. exactly right. and the new shy it's pick how you yeah. okay. so then when we think about this original briggs, it agreement, right?

deal between the u. k. in the you to say we're going to officially separate of us. there is something called an emergency break that was built specifically for this purpose, right? to say us, if you basically, if you're poking at us, if you're creating problems, if you want to have a trade war, we can have a trade war, right? so it was, it was actually, it's unilateral, it's on both side guy, the side can call it and what it's called is optical, 16 article 16 is supposed to be in terms of any excessive disruption of social life, business life, anything that affects the community and this has been affecting the community, it's been adversely affecting businesses, thus it's affecting the tip effect and particularly medicines going into northern ireland. the pharmaceutical checks are abhorrent and particularly those of diabetes and heart issues. the pharmaceuticals are being checked to such an extent that does excessive delays, and that's one of the main sticking points and trade issues. and so again this, this comes back to this idea that breaks it happened in the 1st place because the u . k said, we don't like this bureaucratic good idea. any buttons, right?

and so instead will just make trade deals and we'll operate on our own. we don't need yes. let's try actually the poetry secretary, now foreign secretary, she implemented $68.00 tray deals with the rest of the wall. so there's a lot of what a lot of people saying is let's just pivot and, and turn to the rest of the world. let's pivot to asia, let's pick pivot to indo asia. let's pivot the pacific and that's what it basically being put forward rather than dealing with you. and then there's the other thing was you people saying, which is why put the border in france, put the board at the french florida? not, not. and not in ireland. yes. right. and you mentioned about the irish sea. right. so that's also problematic because in this i guess scenario in which you're trying to fix it, you would essentially be saying then, so let's not send the lobsters to spain will send them someplace else. right. and work out deal the other place. yeah. other places in the world, i lutely, but of course the issue is an issue remains that on southern island, there are public abandon did vote to remain. and that's why there's this board. and

now, which means that you really stopped at that bordering in ireland and the debate about crossing back and forth over that border. even though in the past, it's never been an issue still an issue. now i can even as a christmas, for example, people passing across the board to visit relatives and friends, they would have to have pet passports to even cross. now, what has been called as it has been called as actually this is not the full fact. now this is skim milk legislation because it's only been adjusted full fat. in other words, all of these regulations, the checks are supposed to go into effect in january. and what both sides are trying to avoid is all of those checks going into effect in january. sounds like a mess. hillary ford, which with the british american business association, you made it clear. thank you so much. tasha finally, today i want to talk about my 2nd favorite country in the world. el salvador. yes. the soon to be bitcoin capital of the world. why soon to be because el salvador, not only has made bitcoin legal tender, but the country is now planning to construct something called big coin city. oh yes, bitcoin city will be constructed near a volcano. it will be funded by you guessed it, bitcoin,

the country president announced saturday, the bitcoin city will have residential and commercial area services, entertainment restaurants, and an airport construction in the southeastern part of the city. country, excuse me, will begin in 2022. the city will have no taxes except from of that tax of value added tax love them, paid them, doesn't matter because regardless of how you feel, el salvador is experimenting with concepts that so many people in the austrian economic crypto currency space have only theorized for decades and also widower is now testing those theories. it's a beautiful thing. well, that's it for this time you can catch boom bust on demand on the portable tv app which is available on smartphones and tablets. you can get it through google play or the apple app store by searching portable tv. portable tv can also be downloaded on the smart song. samsung, smart tvs, excuse me, and roku devices. or you can check it out at portable dot tv. and we'll see you back here, next time,

a antique, earliest known thing, the cops right on police report. it's an all cash in december 2020, a group of anti finishes. fill out a film crew access for 3 months. so like if people organization, if an idea that fascism must be opposed, that channel out the game while they may kill their faces. but they can say what they believe in. we believe in helping our community. we believe that fascism is one of the major threats to united states has gotten reuben, this is a chance to see who on t for really are in order for me to exercise my 1st amendment right and say that my life matter, i have to be on to the teeth that, that, that's all americas. we can't trust the police. we can't trust the government. we can't trust anyone except ourselves to protect ourselves in

ah, it is feared, the number of victims could rise after a car plows into a christmas parade in wisconsin in the us. 5 people were killed and at least 18 children are in the hospital. 6 are critically ill. we hear from a father who witness what happened. 8 kids were, were down in the kid that i was administering. first aid do. both of his feet were like ran over in lake broken, a full scale violence turned off over new coven restrictions across europe. while the dutch of pm dismisses protesters as this satisfy the idiots and britons health service. the n h s. that breaking point with record waiting list, that's as the government watchdog finds it was ill prepared.