this is bus one business or you can't afford to miss. i'm virtual blood bridge bore and watch it. and here's what we have. coming up. oil is edging down and uncertainty in a new year approaches. we'll discuss what we can expect. it's a busy travel season for the holiday, picks up. this as a federal reserve meeting is underway and washington d. c. the 1st and chair jerome how and now it's a new way forward for the central bank. we'll discuss what we can expect and the impact on the economy. and that point has a major milestone as most of the crypto has been issued. later on, we'll take a look at what's next to the world's largest crypto currency. we have a pack show today, so let's get started. really, the program with oil as the micron variant continues to create uncertainty in the market. opec and it's oil producing allies say they are expecting the impact on the demand for the latest strain to be mild and short lived in their latest monthly report. now the cartel is also projecting the world will consume more than

$99000000.00 barrels per day for the 1st quarter of next year, an upward revision of more than $1000000.00 barrels per day from last month's forecast may well as opec plus is ramping up production in some nations or tapping strategic reserve, the international energy agency says oil supply is set to overtake demand starting this month on the news oil prices dropped tuesday with the international benchmark . brent crude following as much as 2 percent to just over $72.00 per barrel, while west texas intermediate last more than 2 percent at point throughout the day dropping below $70.00 per barrel. they did come up slightly to close things out. so what is the outlook for oil in the coming month? joining your doctor just is david, tell he is the president of pro chain capital. always a pleasure to have you on david. now with all of those factors we just mentioned, as well as a slow down in air travel due to the cranberry. what should we expect for oil prices in the short term? at least i don't think we'll see anything exciting over the next couple weeks. i

expect that the, the oil markets will probably go ahead and track the stocks are out there. i don't think that we will hear any big news related inventories that is going to move the market. i think we're going to go ahead and see what holiday travel looks like in the month of january. and i don't see whether the prom darien is really putting a damper on on economy and travel. or in fact, it's just passing and we'll probably see more variance like this over time. yeah. and we know that there is a lot, a lot of moving parts there with the upcoming holiday season. now another thing to keep an eye on here is the fact that the u. s. energy information administration that on monday, that crude output from the permian basin, which is the largest us oil field, will hit records in january. what's the expected impact of that?

i think that hein is telling very different story than the actual store. so record output is really good, but consumption is continuing to go up. so if you know the output, it's not going to keep pace with the consumption. then frankly, the price of oil is going to continue to go higher. so because of the demand, more importantly, rachel is the fact that there is a lot less than investment going into the ground. so even if we don't get to record prices in the near term or in the medium term, the lack of investment and there is certainly a very loud cry for this around the world that oil majors are not putting money into the ground in order to go ahead and develop oil fields, they're redirecting resources towards renewable energy. and so therefore, at some point, as you know, if you don't put money into the ground that oil stops flowing at some point. so

therefore, you know, more of the medium term and into the longer term we're going to see much higher prices unless there is development capital put in, put into the industry. and i was actually going to hit on that next because, you know, that seems to be a big trend that we're seeing is investment number one. oil companies don't want to invest as much because they can see on the horizon. all of this policy that's pushing towards the green energy more so they're also not getting the lending from banks. and that's actually something that the saudi oil minister said, which is that in the next, by the end of this decade, that you're going to see 30 percent less production of global oil due to this exact issue of investment. so how big of a deal is this, especially moving forward? enormous brand. it is a, a huge deal. it's not a huge deal for tomorrow, but it's certainly a huge deal 3 to 5 years out from now. the,

the world's oil consumption is continuing to go up. we're not gonna hit that until somewhere in the 20 thirty's. and so therefore, until that point in time, we've got to have increasing production around the world. if they are putting money into the ground, there's going to be decreasing because production at some point. and so therefore the vectors are going to start to go ahead and go in different directions. and we're going to have a very, very big problem. and this country, the united states, is particularly going to have that problem because we're a huge producer. we decided to go ahead and not only take the, the, the, the, the pedal off of, sorry to put off the gas pedal. but we've decided to go ahead and start to push down on the brake pedal as well. and so therefore, we are going to have a big problem here. and we're going to be reliant on those oil producing countries that will continue to go ahead and support carbon emitting fuel sources in order to go ahead and continue with our economy. and i just have, i know this is a very broad question, but i guess what we talk about this,

we always talk about the issue with the fact that moving to green energy to quickly or we're putting out these promises really create the issue that you're talking about exactly right there, but the fact is what is the right way to go about this? eventually we are going to transition to green energy. if you were asking about the financially correct approach, it would be a very balanced approach. you know, there would be some sort of calculus that for every barrel of oil, you're going to go ahead and take off of the market. that needs to be replaced with a certain amount of renewable energy. and so therefore, the transition could, in at least in theory, be smooth. we don't have that. and that's because, 1st of all, that the climate situation may be at a point where it is so dire that more needs to be done in the very near term in order to go ahead and stop the changes that have been happening climate more,

more forcefully than that the, the politicians and the policymakers are certainly, you know, acting in ways that, you know, have, you know, fits surrounding them. and so therefore there's going to be way more, you know, kind of fall out from all this. then then, then there should be, frankly, absolutely, i mean obviously that's a giant conversation and we'll have that conversation one day, but unfortunately we are out of time in this david tell approaching capital always appreciate your insight. pleasure guys have a good afternoon. thank you. and the better reserve federal. 2 open market committee began its monthly meetings on tuesday marketing. the 1st time officials have gathered. since chairman jerome powell told congress he is considering pushing for a faster and to the bank, easy money, policies adopted at the start of the pandemic. now this could mean the fed ends, it's taper of asset purchased by march of 2022. many people are saying that it

could also mean the central bank begins raising interest rate by the middle of next year. now the expected change in policy comes as the binding ministration says power for a 2nd term. and as inflation here in the u. s. continues to skyrocket, increasing from 30 year highs in october to nearly 40 year highs in november. but if there is anything we have learned about, powell, it's that he is concerned about saying or doing something that will have a significant impact on the stock market. that, of course raises the question of whether his policies will have a major impact on inflation. as it continues to be anything but transitory to joining us out of disgust is octavia, ceo of optimist. o. c. now octavio, what our investors looking for from the federal reserve this week. i mean, is there a sense of urgency to do something given that inflation is now rising at its fastest rate since 1900? $82.00. well, i think a pals are laid out fairly clearly what the fmc is doing and what the new york fits

trading desk is going to be doing in terms of purchases, that they're tapering, that they've laid out fairly clearly. i don't expect that to be a major shift away from what they just said a few weeks ago. so that would undermine i think, j pals, credibility or i should say, undermine is credibility even more than is done to himself in the course the past few months. but i don't expect that he's made sure that looks like that tapering they should complete that tape or sometime next year. exactly. want to know march maybe middle of the or something of that sort. and then we'll see, you know, this is a fairly slow process and i think the, the central bank is deathly afraid, as you pointed out, of impacting the equity market. it seems that is almost the primary concern of the federal reserve members keeping actually markets high. it's not so much the inflation goals are, seems to be a much more slow moving target over employment numbers is really about keeping the market up. that seems to be the primary policy concern for the fed. well, and i told you, i know we talk about this

a lot and we've often pointed out that it's not the fed job to prop up equity markets. obviously, those have somehow been, you know, correlated to the general economy. but in reality, it's not. so it raises the question and for that matter, as we start to see the taper, we haven't seen the so called tantrum. so we make that well, we've only started the tape for and i would say this is a bit like a heavy cigarette smoke of smoking 40 cigarettes a day saying i'm going to cut down to $39.00 a day next week. and that's about the pace of things that we're looking at. so it's a very, very slow table. and i think built into the market assumptions about power options that he'll try and find some reason to not do it. bear my look back in 2018 when he took over. they were exact the same situation that now it's even worse. they were trying to raise interest rates. the equities market had a bit of a panic and they back down and they said ok, we're going to go back to 0 percent interest rates. i think that's like happened here as well. so if he continues tapering the bond purchases,

which will have the impact of increasing interest rates, the market is likely direct, very, very badly jeep house record so far is that he backs back them quite quickly when that happens. so i think we can expect to see that again, and that's course baked into the markets, thinking about how j how's going to react on what the fed is going to do? well, i mean, is he basically then bowing to wall street saying essentially that if they sell off quick, if they make that concerted effort to move forward with the sell off markets go down, they could just push it had to raise interest rates to reinstitute q a. it seems kind of a little scary that way, tail wagging the dog if you will. i have you. you know, i think fed chairman owns about the markets, but of certain plays a lot of important have the stock market is doing since alan greenspan, at least so for quite some time now. another fed have paid a lot of emphasis on the market. now i was doing and it seems that every time the market goes down by 10 percent or more, they step in the private market. so i don't know if that is the tail wagging the

dog or how you want to pull out the best way. but certainly, it seems to be one of the major major concerns of the fed and that we can argue with, that's right or wrong, where they should be concerned about market somewhere. but the fact is they are, and they look to stipend very, very aggressively. when the market's misbehave, and we certainly think that play al, especially in the last here now, you mentioned power credibility. and i know that one of the things he has been saying is that the fed wouldn't raise interest rates until the u. s. reached maximum employment. now we're seeing reports that, that may start a little bit earlier, even as early as june of this year. would he be breaking another promise in that says, and why would he tie interest rates to employment in the 1st place for breaking promises? i don't want him to accuse him of misleading the public things about certainly he has shown that his reserve in the right to become more intelligent with time. let's . let's put it that way to, to make an actual place. now why is he tying unemployment and inflation and

interest rates together? and this is old, that old economic theory that somehow unemployment inflation tied together, that the higher employment goes, the more inflation you get. and so there's a tradeoff between the to the circle phillips, because i think that's been discredited many times, but theoretically and empirically j pounds pounds health has said that relationship doesn't really hold anymore and held very tight if 50 years ago. but now it doesn't say it's been very ambivalent about that, but it still seems underlying it the fed policy decisions are guided by that idea. the idea that as employment goes up and face goes with it, and we can control employment levels with interest rates, and therefore we can control in placement. so that's the thing. i know it's very tortured logic is very hard to follow, but that's, that's what it is. that's where they stand and that's how they make their policy decisions are. and i, and i know i've been being a little bit negative today. maybe even a little bit pessimistic, but i have one more for you before we go. i mean, the question is, we talk about all these decisions, the q, we tapering, we talk about the rate hike,

possible rate hike. is there any proof that this is actually going to lower inflation? that's been at a 4 year high? well, if you look historically, interest rates aggressively has a very dumpling effect inflation and, you know, we were talking about what the inflation rates were actually bases and how that, how they would bear in mind to get it under control that then the fed volkhart has the increasing descent, so you have to have a very, very aggressive increase. and i think what we're seeing so far is not nearly enough to make a happen. so with this, and i think go merrily on the way it was inside the business place and keep going up until the fact that it's about that. i think it's sort of come to political pressure because these very high inflation laid out to becoming normal bliss reliability forms of ministration. they don't have to show the public to do something balance. it just rates, which is something we're going to take into account and i think that might take on other measures as well. i wouldn't be surprised to see them put into play some sort

of price controls if inflation levels keep going up, they say, but we have to show the palate will be about this less price from now assume yours. and we might see that coming down towards that as well. yeah, certainly a lot of space here and we'll all be waiting to see what chairman jerome pal houses say tomorrow. octavio mirandi of open this l. l. c. thank you for your time and insight. now if you are in the market for a new smartphone, you will likely find yourself choosing between the 2 major operating systems. ios used on i phones made by apple, an android which is owned by google. well, it's those 2 tech giants that are now the subject of a 445 page report from the u. case anti trust regulator, which describes the companies as having a vice like grip on the consumers who use their products, their report notes, a ways in which apple and google lock consumers into their ecosystems. encouraging users to choose their apps and making it difficult for 3rd party vendors and

browsers to compete at all. now the anti trust regulator is accusing apple and google of limiting innovation and choice, which it says has an impact on millions of consumers in the u. k. a load this report is one of several from the you case competitions and markets authority, which is calling for the british government to give it more power to target tech giants and their dominance in the market. both apple and google, of course, have denied the accusations and said they value competition. i bet they do while defending the exclusive nature of their products. a final report from the regulator is expected to be released in june of 2022 and time. now for quick breaks, but when we come back, coin has hit a major mile, so we'll break it all down and discuss what it means. we're the world's most popular crypto currency. and as we go to break, here are the numbers with

london love polls, particularly when polls further a certain political agenda, but pulling has a checkered history. as of late the last 2 election cycles. tell us as much, should we put much stock into polling anymore. it so then why, for is you'll media a reflection of reality in the world transformed what will make you feel safe, isolation, community? are you going the right way? where are you being that somewhere? which direction? what is true? what is faith?

in the world corrupted. you need to descend, or join us in the depth ah, or remain in the shallows, ah, ah, driven by dreams shaped by some person, those with dares thinks we dare to ask. ah

ah mm scientific knowledge has never been so readily available to every one across the globe, but overwhelmed by information. can we distinguish the real signs from the one being imposed upon us? we're living in a world where there are many people who have a vested interest in fighting information, fighting scientific evidence, and discredited even the notion that science could provide the truth about the natural world in the pursuit of business goals and launch corporations a challenge strongly by scientific evidence, if you are emotionally invested and free markets, them climate change is

a serious emotional threat because dealing with that means we have to change our approach. business industries are on the war bar, attempting to debunk legitimate science by producing new evidence. is science lighting science? that's how he says manufactured their attention only seeking to the rail by this rilling, using science against itself. welcome back. december 12 may have been just another day to most of us, but it's an important milestone in the crypto currency world. it was on sunday, the crypto advocate celebrated the fact that 90 percent of the entire supply of coin has officially been mine. let's reiterate that of the 21000000 bit coins that

will ever exist. 90 percent are now in circulation. so what does this major moment for the world's most popular crypto currency mean? well, as bring in by co host crypto analysts bend, swan it's got our band. let's start with this. how significant of a milestone is this? yeah, i think it's pretty significant, as you guys pointed out, 90 percent, a pretty big number and we're talking about the fact that big coin and again, the thing that makes it so unique. remember, big one came along in 2008 at the time of the financial crisis. and the whole concept, there was government currency created by central banks and governments ultimately becomes the value because it's abuse. and so we create this finite supply of digital currency that is bitcoin. and there is, as i said, a finite supply, which means you can't print it into infinity. you can't print any more than will ever be created. and at one point we'll have all of it created. in fact, around the year 2040 is when it's expected that all bitcoin will be mind. and that's a pretty exciting thought. if you think about

a 21000000 bit coins will go into circulation, and that's all there will ever be. wow, that's fascinating to think about. now as all of this was happening, a number of users on red, it began asking questions about how much bitcoin is stuck in unrecoverable wallace . is there a clear answer to that question? no, i don't think there's a clear answer to it. i mean, it's kind of based on a few ideas. one of them is you can monitor, of course, because you have the ledger, right? it's a trust left system with with it going other currencies trust las meaning you don't have to trust that you can verify everything for yourself. doesn't require trusts on your part. and so one of the things you can verify are the coins and the tokens that are sitting and wallets out there. you don't know who they belong to, but you can verify whether or not they've been moved or whether or not that was access them. and there are some that have rarely been moved or never been moved in the past 10 years. and so it's estimated that about $1.00 to $1500000.00 or $1500000.00 bitcoin are sitting and wallet someplace. but actually there's been

some analysis has been done recently by some other groups looking again at what's moved and what hasn't. and the estimate now is it long? some experts, anywhere from $3.00 to $5000000.00 coin are sitting in wallets and they'll never be able to be recovered. and the idea behind that, by the way, that's actually a positive because when you have the coin that can never be recovered, therefore never go into circulation, can never be spent. it actually boost the value of the big coin that can be. and now band with all the talk about inflation right now, one of the interesting facts about bitcoin is that it's inflation rate is actually lower than that of central banks and expected to continue to drop. so with this whole situation is that mean there's going to be less volatility here in bitcoin? well, the volatility will really come down to trading, buying and selling. so that won't change based upon the inflation rate. the inflation rate for big coin right now is anywhere from about 1.75 to 1.8 percent still lower than as you said, you know, the 2 percent that we're seeing right now coming from the central bank federal reserve. but what's interesting about big point is every 210000 blocks that are

mine, big point actually has a have having, right, how being hate that word l v i is basically cut in half. and so that's essentially how it works, right. and so each time that happens, there is another one of these happening events. what you wind up with is eventually you get down to 0. and when you get to that point, when there's no more bitcoin to be mind and no more big going to be cut in half, which will end up with is ultimately of interest rate that runs about one percent. so it's kind of interesting how that work and by the way, another interesting fact here when you get to that point where there's no more big going to be mind between minors don't go away. in fact, they'll actually been begins simply securing that work and processing transactions because the idea of course is that people will still spend use bitcoin. and so someone has to actually process those transactions that will be the big coin minors who currently are mining that point. oh, that's really interesting especially to think about i know whenever people hear that 90 percent of it has been mine, they think that there's some kind of endpoint, but it keeps going on and on forever. and i know you mentioned that you know,

a lot of people, they may by bit coin, keep it in a wallet and leave it there because they're watching that price go up. now at the same time, i also want to bring up the latest comments that have been made from you on must now times person of the year. but he made a point. we've talked a lot about which is that the coin is not well suited for transactions, because it can be slow and cost a lot. but he claims that the answer here is the doors coin, a silly joke, as he puts it, that it is better suited for transactions. is there any truth to that? well, there is true that those going is actually much better suited for transaction. but i said many times, as you guys know on the show, that big coin is a actually a very poor coin when it comes to the functionality of, of point of purchase, right? if you go into a store and you try to, you've been going to buy something, it does not work well for that dose quite as much better suited. but those are not the only one. obviously, you on has a huge vested interest in those going to that's why you put that. but there are others as well, like dash or smart cache that are very fast because they have something called

instant pay which allow for an instantaneous action actually faster by the way. the mastercard, or visa, big point is not the answer to point of cell purchases. boom bus been swan break it all down for thank you so much today. thanks and finally revolves before made some sort of fat finger air as they call it, accidentally transposing a number or sliding a decimal point over by one or 2 places by mistake. but it generally doesn't result in a loss of nearly $300000.00, but this is the case. we're an f. t trader who goes by the name of max, not online max, will seen that he was attempting to sell an s t he own as part of the board, a yacht club, a collection of 10000 colorful climb primates, on the theory, him block chain. while he meant to sell the artwork for $75.00, if there are roughly $300000.00, a quote lapse of concentration as he put it. so i'll have accidentally type point 75 ether as the listing price. and as it turns out,

a bach copier right away and snatched it up, only to release the item for $248000.00. immediately. max told scene of the situation, quote, the industry is so new, bad things are going to happen. whether it's your fault or the tech, once you no longer have control of the outcome, forget and move on. now that hurts, but you also would hope that it's a mistake. you only make one's, i think for sure, he's gonna double check. every number he puts in from the system from 800-002-3000 that's it for this time you can catch boom bus on demand on the portable tv app billboard smartphones and tablets. you google play in the apple app store by searching portable tv. portable tv can also be downloaded on samsung smart tv, then roku devices or simply check out portable dot tv. well see you next. me. ah.

did you talk a little higher than to chip that you'd outside but on you can buy then coffee. so she has an odd at a by then is a shift of on a more a month. so if a poke multiple and ginger more can connect to, so that gives us a few health, most of the shows a symbol. so this is what i can look at. what else is it

a philosophy on it this year? how i did something then say, do like a a maybe maybe i'm maybe with can. oh right now, there are 2000000000 people who are overweight or obese. it's profitable to sell food. this is tracy and sugary and salty under the it's not at the individual level, it's not individual willpower. and if we go on believing that never change this obesity epidemic, that industry has been influencing very deeply. the medical and scientific establishment. mm. so what's driving the obesity epidemic?

it's corporate in brick use an art, a russia retaliation after germany expelled to diplomat, choosing the kremlin of ordering a murder on german soil 2 years ago. moscow dismisses the claim is probably also ad on the program up for years of flagging post falls or misleading. facebook admits in court, it's much vaunted fox checks are actually open and jail for trying to protect young girl.