says it has a plan to take on anti competitive practices in the meat packing industry that have sent prices storing to just how much are the for largest companies impacting the cost you pay? it's a grocery store. we'll discuss. we have a lot to cover today. so let's get started. we leave the program with the latest as the oil industry, opec and it's oil producing allies have decided to stick with more of the same when it comes to output the cars out. we'll continue to raise in february production target by $400000.00 barrels per day, as it has done each month since august, when it began to unwind the $5800000.00 barrels per day of cuts that were put in place at the start of the pandemic. now, by the end of january, the group will be left with about $3400000.00 barrels per day of cars to undo by the end of september. poor is it, per, it's july 2021 agreement to joining us now to go in depth on that. did boom, co host an investigative journalist? been swan now bad? obviously this comes despite calls from the us and its allies to increase

production. opec isn't really motivated significantly to increase that production. what's going on there? yeah, i think that's essentially what it is. right? opec wants to be able to make as much money as possible. we all know that, and that's not a surprise to anyone. but the fact is, is that they kind of leaned on the idea of the, on the kron very being. a reason that they were going to see a slow down in transportation again to slow down in the airline industry and all about we're going to impact fuel price, what actually hasn't really impact the fuel prices. and yet what we see is that opec really isn't in a rush to change anything, right? they want to keep the supply as low as they can. they're increasing by $400000.00 barrels per day, per month is what the increases right now. that's a very small amount. what's interesting about this though, is the question i guess moving forward, which is what is actually going to change in the next few months. and will there be a change in at this point? opec has just elected essentially a new head of the cartel who's going to be running it. and nothing's really going to change. it's going to be businesses usual. they're going to continue to do what

they've done over the past couple of years. i don't think we're going to see a whole lot change, which means bad news if you are hoping the gas prices are going to drop that this winter, that those gas costs are going to be lower. if you're heating bills based on, on oil. i don't really think that's going to go down either. yeah, a lot of us are sitting there wondering about those gas prices. and at the same time, opec is kind of thing back to collecting those profits that they at least thought that they gave up during the pandemic. now i know when we talk about oil prices, there's a lot about speculation and a lot of that comes back to politics. and at the same time, there are still huge concerns, at least from washington and european allies about russia and ukraine going to war at some point in 2022. now this seems to be a huge driver of continued energy problems. so is it affecting output at all? yeah, well, i think it's, it's not really affecting the output. what it is effecting is nice the efficiency by which oil in natural gas can be delivered to certain parts of the world,

specifically to europe. right? europe is the one that is really dependent upon, nor string to if nor string to we're approved tomorrow. it's not going to change anything for us in the united states. but certainly it's going to change the oil prices, especially in the spectrum of nature of them across the european continents and have a huge impact there. it's interesting because already hearing, i mean, just last couple of days, increased rhetoric coming from the united states about wanting to crack down on the russians for how dare they allow nor stream to to exist. how do they try to use it? there is a weapon is ation of the terminology that's being used acting as f nor stream to is in and of itself an act of war. and i think that's very dangerous language. i don't like using the word dangerous very often. i think it's over used in our business, but i think it really is when we're talking about the potential for war and referring to an oil and natural gas pipeline between 2 sovereign nations that was agreed to and treatment like it is an active or i think a very dangerous talk and of course as we mentioned many times, 2 of those ages,

russia and me really, really, really want that project because they need it. now i want to hit on another story here because oil exports from venezuela doubled in december from a year earlier as the country raises production of revenue generating hydrocarbons in defiance of us action. what's happening there with venezuela? yeah, it's a pretty interesting story and i would say this was probably flown under the radar of most people. but look, here's the bottom line. as you know, during the trump administration, there was a huge crack on the way another the effort there was to really kind of corner venezuela so that they could choke out the ability of venezuela to funded government. because virtually all of that funding comes through oil. an oil reserves, the bottom line is over the last year, then as women's become much more powerful, they have defy those us sanctions. as you just mentioned, their primary target they're selling to is china who of course, as a huge need for oil. they are buying oil from venezuela and a lot of what they've been doing has actually been helped by iran,

part of the processing of oil. because as you know, because we can't really process it's oil, it has a lot of crude, but it doesn't refine it. well, it runs been helping in that process and helping venezuela to do that. so it was very interesting about this right now is that yes, venezuela is acting in defiance of the us. but even the terminology, i don't like it. defiance it's like who is the u. s. to decide who around the world gets to actually be able to process their own raw material. now the u. s. s. like they can do that. and yet here we go. so way that has been doing a pretty good job of defining and continuing to move forward. they have more than doubled their output in the last year. it's actually somewhat impressive. and under the rate, interesting, all 3 of those stories combined kind of wrap into the u. s. tried to stick their nose into all of this boom bus. been swan. thank you so much. you got it. and the race to create a central back bank back to digital current and continues as china has a now it's it is launching an app for the digital you want. now the app will be

available for smartphones intense like cities including beijing and shanghai. the peoples bank of china also plans to integrate the digital currency into venue at the 2022 winter olympics next month. this is just the latest step in beijing's journey to create and creating a cbc. the admin in the work since 2014, and it's not just china, more than any countries are exploring digital currencies with 14 launching pilot program. similar to what aging is doing right now. at least 16 countries, including russia, australia, and brazil are preparing to launch pilot programs as early as this year. and nearly a dozen central banks have already launch their own digital currencies, including the bahamas in nigeria. now if you're wondering where the united states falls on that list, well they're still in the research base and many said that they're falling behind on what could be the future of money as we know it. so joining us now to discuss the latest pci and octavio marines, the ceo of openness, i'll see now octavio. let's start with you here. while some of the world's largest

economies are showing their interest in digital currencies and moving forward with plans to make them are reality, we have yet to really hear much at all from the federal reserve on its development of a digital dollar. why don't you think we've seen more of a push from the u. s. at this point? let me say, 1st of all, most the central bank visual currents is not particularly innovative at all. then the, basically just a central bank account that works the way bank accounts of always operation. but the big difference is you can't use any cash with it. so you can just execute electronic transactions. you can use an app on your phone to do that. you can do that already. so the thing this, the great innovation that is not going to be using district technology can be centralized at the central bank, does not be anything particular innovative about the line technology. but there is huge, huge difference in terms of who actually holds the money. now with these written central bank just look occurrences is the central bank that holds money and not the commercial banking sector. so i think that's the major difference as

a major innovations that economic one really not really a technological one. so the money is not going to be at a wells fargo or c span cortex, nor what it's going to be with the fed. that would be the idea if in the u. s. of such a thing were introduced. that's a big, big change and radical restructuring terms of how the banking industry works. and i think to your question, why has this not happening in the u. s. i think the commercial banks in the u. s. are in general, more powerful now in other countries. large parts of the federal reserve, russia owned by commercial banks. certainly the regional reserve banks are who then appoints members, the board governors. and so the commercial banking sector in the u. s. is probably feeling really, i've been about this not exam. bitten is actually hostile to these initiatives and is in a better position to control it. so i think that's why the fed as not jumped on this bandwagon just yet. they were making some noise about about half a year ago. i think the commercial banks basically called the representative fed and that is with don't really want to do this. i think that's what's happening more than anything else. but christina, we've touched on this many times in the past. the day is this whole effort for

digital or central bank? digital currency is really just an effort to keep away from the centralized crypto currency is the traditional crypto currency here. absolutely, because right now, decentralize currency is a very big threat to the entire ecosystem. and not just that cbd c's are trying to compete with just regular crypto currencies in general, not just the device base because as much as the biden administration tries to criticize china about china being over controlling our overbearing and with their cdsi america. the exact same thing with the buy and ministration already trying to look into bank account that hold over $600.00. so c, b, these, these are going to be the ultimate invasion of privacy. and they're doing this in order to compete with the defy because yes, the defy space is convoluted and it is cumbersome for a lot of the onboarding aspects for regular consumers. and in retrospect, it, it shouldn't be that way. but the great thing about crystal currency and the reason why the crypto ecosystem is so tight knit because they value this idea of

exploration and self learning. it, they create things to be challenging because it then you read out just the people who get in because the height because of fomo and everything like that. the people who are truly interested in the fight who are truly interested in learning about crypto currency. they are actually rewarded with financial gain versus people who are just trying to get on board with something simple like, don't want to shoot require something like that. c, b, c. on the other hand, they make the barrier to entry. very easy because as we just said that absolutely no a new innovation to it, everybody uses a cell phone. everybody knows how pay power says absolutely no new innovation for that. so cbc is trying to capitalize on that. on the fact that defy is convoluted is confusing, and it is cumbersome for a lot of regular consumers right now, are covered, we covered with you. why something like the federal reserve isn't interested in cbc, but why are other central banks into this? but i think it's basically a christian point. they're afraid of being left behind and they feel threatened by crypt occurrences. and i think they can push something forward to sort of counter

that threats. but i think they are very different animals. the, the central bank currency, nothing like crypt occurrences to the whole idea behind encrypted currency was that it couldn't be inflation or they couldn't be just expand the date into the, into the faster with the central bank cryptic currency or discount to it back right back to that i think a lot of these, these smaller central banks have not really thought through about how much work they're going to have to do in terms of customer on boarding and verify who the customers are. and looking the transactions and provide the customer service. if something goes wrong, that's going to be a lot of work and they have to, hi, it's thousands of on tens of thousands. the people handle that. i don't think is really well thought through the whole thing. i think the whole thing's really good advice. and the experience and as they get through this, i'll say, well, we have to have a lot of people behind us because now on occasion transactions going to go wrong and to pick up the phone and talk to someone, you have to identify the who the customer is before they enter into this relationship with the central bank up even close to being able to do that. yeah,

definitely. a lot of work there. christy, we've got less than a minute left. i'll give you the final word here and see what you see. i think they are cumbersome, but the thing is that what he pointed out was that a lot of technology these days are passive. facebook is very passive. apple is very passive. there's absolutely no help button on the entire facebook home page. and that is actually what made them famous. it's a fact that they actually simplified everything for the user. and that's actually what the cdc is trying to do is trying to simplify everything because consumers these day, they are passive, they're not actively trying to engage with the platform. they are passive and they like to be fed things. and so that is something that the cb d. c is trying to capitalize on and it's going to be something to definitely monitor because c, b, d, c. while yes, it is a great as in. yeah, there's a block chain record for everything and makes things easier. it makes transaction simpler, cheaper, more efficient, et cetera. on the flip side of that, there's a lack of privacy. there is a lack of accountability on the other side. what happens if that data ends up in the wrong hands?

so definitely there are pros and cons to both sides of that. most. christy i and octavia moran z of open miss elsie, thank you both so much for your insight. thank you. so i'm now for a quick break when we come back, the vine administration says it has a plan to tackle spiking inflation in the meat industry. will tell you what they're considering, neck, and as we go to break, here are the numbers of the close. oh this isn't an often it oh even see children have been kid for at the fountains.

house. i give them about my mom with with a nice mini goal. michelle in the middle. oh, national news valley. my mom is violet that dana mom. yes. a lot of people, i would love me a chance i can redeem your theme.

i kind of a forward to talking to you on that technology should work for people. a robot must obey the orders given by human beings, except where such order that conflict with the 1st law show your identification. we should be very careful about artificial intelligence. at that point, obviously is too great truck rather than fear a very job with artificial intelligence. real summoning with a robot must protect its own existence with ah

ah ah, welcome back here in the united states, the binding ministration is taking steps to rain in rising meet prices. the move comes as the white house is attempting to deal with inflation, which rose at its highest rate in nearly 40 years in november, and is becoming increasingly important issue for voters ahead of this year's mid term elections. this week. biden addressed a lack of competition in the $213000000000.00 meet packing industry, and which he says before largest companies dominate 85 percent of be production, 70 percent of the pork market and 54 percent of the production of poultry administration hopes to bolster competition by providing funds to help regional

processors compete with the giants in the field, while pushing for enhanced rules on livestock purchasing and meet labeling. president biden met virtually with independent farmers and ranchers monday to discuss the initiatives. in too many industries, a handful of giant companies dominate the market. and too often, they use their power to squeeze out smaller competitors and stifle new entrepreneurs, making our economy less dynamic, giving themselves free right to raise prices. i've said it before, and i'll say it again. capitalism. without competition in capitalism, it's exploitation. that's what we're seeing and mean poultry. so will these later move make any significant impact on the industry will? joining us are discussed is chris swift. swift trading company. chris, pleasure to have you back on the show. i know it's been quite a while. it is to groups that back the nation's largest meat packers have already been critical of these later step. say this is really a workforce issue and this could actually make the problems even worse. what's your

take on that? i'm not real sure how we could make it any worse. increasing our capacity always makes more room for the producer to have a place to market inventoried, generates the bigger benefit seemingly coming with the smaller plan would be to the individual consumer. it wants to source their mean products, specifically from an individual producer, and then see where they know that may produce what all went into that production. and they feel safe or having that product there that they of individually source. so we love the smaller producers out there in the packing production. that's what we're probably looking more towards. bringing on more plants that can either process cattle or hauled in there. and then some that are already maybe they could increase more was robotics or even from increase. and now when it comes to the statement that we heard from president biden, and from the vine and ministration,

they have been hyper critical of a lack of competition within this space, which is allowed these big companies to squeeze out regional and smaller producers . do you see this is a major and major issue rather within the industry will and i don't think that this new bill will do much to be able to help lower anything from the majors there. i think that we look at vertical integration and we see that we need to produce the amount of bait for our public needs to have that kind of movement through dates and berkeley integrates lines. and the supply chains i think will we have to look back is that if we go back in time, we can see from the o 9 for 2013 time frame, we're packing industry was very large. it was very antiquated. and through the next 2 to 3 years in the 20132014 like a separate contract that they made the business decision several necessary to be able to make them profitable. unfortunately, at the exact same time, we saw our producers increase that supply greatly. that began to tax the current

packing capacity in an over the number. ready of years for which we continued to increase those flaws, we did not increase in the past. so even today we've not increased it all that much . but enough, the words are the robotics that have come into as well as the increase in employment has helped to work through a lot of those animals that are there were an increase of law. i will be out of the crate to give us a lot of information. you know a lot more about this industry than i do. so the question is, based on all that information you're giving, are we consuming more me here? thing i've states of we, or we're also exploring a lot more as well. the united states no way in grass. it cheering in corn big. and we know that other countries and developing countries that now have more money than what they have had before, are able to afford those products. so we are the number one seller of hybrid corn beef, and that tends to be very desirable. is elise up and coming countries. now,

is it a concern that when we see that, you know meat, poultry fish eggs have seen a 12.8 percent inflation rate over the last year. that you know, consumers who are already paying more and pretty much every aspect of the economy are already feeling that painted. that a can, sir. i don't think so. we will look at a to a point 8 increase on exit 8. nonsense, a garage and attention to a dollar ribbons to where $1399.00 that takes me to $1599.00. we look in our other aspects of healthcare and the amount of it increases our energy prices which have increased significantly. but most of those increases are all done by the mandates that the government boots on businesses that stifles the production of those. or chris swift. i appreciate you coming. i will follow the story further. chris swift of swift trading company. thank you so much. i keep now to the case that read like the script for the movie, it inspired their nose founder elizabeth holmes has been found guilty of defrauding

investors after she res, $945000000.00 for her biotech company, which is valued at over $9000000000.00 now the only problem with the technology she was selling didn't work, but that didn't stop home from attracting high profile investors, such as rupert murdoch, betsy devoss, and the walton family. but even with the verdict now reach there. so countless questions about how the business was able to reach the heights it did, and what investors can learn from it. so joining us now discuss media analysts, lionel. now, lionel, we know that elizabeth holmes was facing 11 counts total, but she was found not guilty on 4 counts related to defrauding the public. so what was it about those 3 wire fraud charges related to her investors that led to the guilty verdict? well, let some, as they say, now let's unpack this burden the only caught charges she was found guilty of the only verdict were in defrauding investors. the acquittals came from defrauding.

theoretically the patient was that tell you, same case, virtually 2 groups of people. those who put the money and those who could have died by, by virtue of this fraud, those cases were acquitted. now, the themes are incredibly here, excuse me, and my humble opinion. this is more interesting than the elaine maxwell. while this is somebody who lives in silicon valley, right, there's this whole idea and there is a whole fake it till you make it idea. and in this rough and tumble brash, you know, ally perhaps to sell your product. in fact, she, even she, she base her whole countenance or look on steve jobs. this was different. this was an app. this wasn't something that was fun, this wasn't facebook just with people's lives. but, but brent and rachel,

what i don't understand is, did any of these great investors do any due diligence? i mean, if you want particular back every in the, in the book bad blood, it's fantastic. everybody who knows anything about that. and i certainly am not an expert, but it's very simple in order for you to, to do just one. just one of the series of tests that you can get from the school nano containers. you need volumes of venus, blood, a nice quantity, vacuum, venus as in veins. this never could have done this. they knew this from the beginning. my question to you and everybody has what role do the media play? what rule, duty investors play? i wanted the biggest backers of this was president. now president bind, who said this is the laboratory of the future. so they knew this, they should have known this. all of the people who said, listen,

i think we should go on what we should hear because of your and your children. what i did do, do they not have anybody independent walgreens bought into this thing? this is the part that amazes me. and let me tell you, is that right? she is looking at a sentence that there's been a boggle your mind. this is bernie made off level. these under the federal sentencing guidelines, the number of the victims, the amount and controversy, the fact that she took the stand and the judge is going to say you lie to me over and over again, people for the 1st how brave she was taking the stack. now, you know why you don't do it. so this case is, is far from over and it fascinating in terms of the implications. i really have about 30 seconds left, but the trial wrote, received so much attention. obviously, as you mentioned, there's a great book about it. documentaries, there's a blockbuster films being ready to be released. i mean, is there danger of being another fair nose or do we learn a lesson here from this? absolutely not. absolutely not because that mentality is going to be even stronger

because what they're gonna do is they're gonna, instead of saying, wait a minute, we to be, we don't want to be the next one. they're going to say, oh, don't worry, we're not darren ups. so if you think they're gonna pump the brakes after this, right? not even close wiggle and media analyst ally and all thank you so much for your dominance. i. thank you. and that's it for this time you get boom. both on demand on the portable tv app available on smartphones and tablets, or google play in the apple app store by searching for a portable tv portable tv. you can also download it on samsung, smart tvs and roku devices, or simply check it out at portable dot tv will see you next time. mm. a . now it shows the wrong

one. 03. just don't pull any news world. yes, to shape out. disdain becomes the advocate and engagement equals the trail. when so many find themselves worlds apart, we choose to look for common ground. oh, this isn't an often it, oh, even susie children have been kid for at the fountains house near papa blue. i give them a devout knack or chicken. my much man with much it is cuz i'm with my swimming goal. michelle, in the middle of the issue. i had money in his violin. my mom is violet that

dana mom of. yes. my city, i just met with me. okay. allow me to book a book. i love, you know, most people i was like me of. it's not a challenge is knowing a 1000000 young and the desk of jim i shall i can redeem the feel. feel i huh. oh, oh yeah, it has to be ready to be able to afford enzyme and find the luxury good

for sure. despite having the most expensive health care system in the world, we have poor life expectancy. we have higher infant mortality. we have more deaths from treatable causes, so americans are suffering every day from it. it's is if these people don't count i saw how they can choose their customers and dump a sick also right to satisfy their wall street investors. no parents should have to see what i saw. so if you're denying payment for someone's care, your make life and death decision and determine to get to with 10 who dies to me that's, that's getting away with murder ah,

violent clashes between protest this and police receive it the day after the government resigns of a nation wide address, the security of spiraling fuel costs shows no sign in with president pneumonia. my problem results the foul language to take a swipe at unvaccinated citizen saying that he wants to annoy the inflammatory remarks. come amid a heated debate, whether to bring him vaccine on charges against former governor of new york, i'm to call him, i have been dropped. he was accused of under counting home death and of central harrison supposed to be victims though a furious what kind of society or.