real worry is that any veering towards work is him will only stoke divisions by putting people in tribes and telling them how they should behave and as much as francais government may be fighting against states. it's a battle that the country may have already lost charlotte, even sky r t. paris. well, that's only the 1st week of 2022, but already buying for word of the year is inflation next. boone bus examines why big price increases are rapidly spreading from the u. s. a control stand like say close with with

this is been by foreign business. say you can't afford to miss. i'm racial blood and i bridge ward washington. here's what we have coming up. the united states just not alone, and it's inflation struggle that europe largest economy is seeing some of its highest rates in nearly 3 decades. straight ahead will bring in will be joined by a panel of voices to discuss the issue. and there's been a slumping bitcoin. the price in recent days hitting its lowest level december last crash or fair was important. we came away with a record $14000000000.00 in crypto currency in 2021 will discuss. then in the wake of the essay is drive to the labor rise in an 80 and p from completing their 5 g roll. an airline companies are backing the governance position. we have all the details with an expert in the field net. we have a lot to cover today, so let's get started. we leave the program with the state of inflation and europe's largest economy. germany is consumer price. next rose by 5.3 percent year over year

in december, the highest rate in nearly 30 years. now this remains a slight increase from the 5.2 percent in november, but it marks in using of inflationary pressures which have been surging over the last 6 months. now the nation statistic, office chalk this up to lower prices in 2020, during the height of the pandemic, pointing to a temporary reduction in its value added and a chart or value at attacks and a sharp decline in oil prices like the u. s. federal reserve, the european central bank maintains a target of 2 percent inflation and expects inflation to hit 3.6 percent this year at a rate of 2.2 percent in 20232024. so what does this mean for one of the world's major economies? well, joining us now to discuss is boom bosco hosts bend swan and chris the i, i want to start with you ban. what's the take away here? is it a positive sign that we are seeing prices rise by a huge amount,

month over month? i guess if you're looking for a silver lining, that would be it in terms of the price is not going up as dramatically month after month after month. however, if we're looking at overall where we were a year ago to where we are now, it is not a good place to be. certainly the amount that people are spending right now is obviously significantly higher than they would like to be spending. that number does not seem to be dropping, even though it may be, it's not writing as quickly as somebody expected. so there is another issue here to inflation is one issue. but there's also, as we've talked about in the show, many times before this issue of supply chain issues. and that is significant as well because the supply chain issues have not been resolved. we have not seen an actual quickening of products, making it through ports. and in the stores, in fact, if anything were starting to see even more of a slow down, now go into your local grocery store or even a local restaurant right now. and you're seeing more and more items that are off

menu, more and more items that are off the shelves because they're simply not being able to stockton because of supply chain issues. so those problems have not been resolved. and obviously that institutes its own supply and demand economics, where the supply is too short, the demand is too high and the price will continue to rise on those items. and that demand certainly isn't going anywhere anytime soon, but those supply chain issues continue to persist. now, christie, here in the united states, we know that the federal reserve finally backed away from the idea that this inflation is transitory acknowledging it may be here longer than they initially anticipated. but for the e, c, b, they are sticking to the idea that this spike in inflation is only temporary, even though it's gone on for several months. now. what say you? well, the easy v a certainly taking a different stance here. they've basically doubled down on their asset purchase program in 2021 and have still given no indication of an interest rate hike. so the bank is keeping its monetary policy flexible around the unpredictability of coven.

not wanting to slow economic recovery just as inflation is rising. so they believe that the inflation outlook has been revised up, but it's still projected to settle below is 2 percent target over the project. a horizon which means 2024. so right now it's a fascinating battle to see who's right. the fed basically surprised the market with comments about inflation and wage growth that might lead to higher interest in response. so these comments appear to states that the fed believes that these prize heights and inflation pressures across the world which have been made worse by supply chain shortages have been said, and also huge demand for labor. and that all might be here to stay. so this in turn brings into sharp focus, applied by christine le guard for them to keep their key rates at a historically low level. because basically it maintains that global inflation is only transitory, and doesn't require these interest rate hikes to defeat it. and she has already pledge at the e, c, b, a will not hike rates this here. and that these increases were unlikely up to 2023

. but that conviction will be under very heavy scrutiny in the next few months. so the stakes are high because if the b is wrong and the fed is right, then the rates will likely increase earlier than expected. and that would in turn push up the cost of borrowing for all the household, including loans, mortgage, car, payments, business loans, etc. so they can both be right, so the easy be continued describe this problem as transitory. whereas the u. k. a u . s. central bank, they're creating more long term solutions are bad and we're going to move to some other topic here and just one second. but i did want to hit on one more point about german inflation. how much of this has to do with e c. b policy about for me. yeah, i think a lot of it has to do with easy the policy just like here in the i think it has to do with bed reserve policy. listen, central banks are driving inflation right now. there are not many other factors that are doing it. it is cheap, money being printed as a resolution to the fact that economies suffered under not unnatural conditions

through the pandemic. but government impose condition, government imposed conditions, government, and post solutions. and now you have high inflation. i think it's entirely the responsibility of the e. c. b just says, here's the responsibility of the federal reserve on i'm glad you bring up central banks because that's the next topic we want to get into. and i know when we're talking about inflation, we can't mention it without. of course. also talking about the federal reserve right here in the united states. now, right now, the expectation is for the fed. you raise interest rates for the 1st time since 2018 as early as this march. and you then begin to reduce its more than a trillion dollar balance sheet in the months after that, that is all comes as fed officials have spent months saying that it's past time for the central bank to pull back on their easy money policies that were put in place nearly 2 years ago, at the start of the pandemic. now ben will come back to you to start this one. now we know that the bud policies, as we've said, had flooded the economy with cheap money. so what happens when they finally start

to pull back and do you see them sticking to this current schedule? so, so my honest belief here is, i don't think the federal pull back, i think they are indicating that they might, i believe i would hope that the fed does actually want to do that. i'm not sure that they do, but i would hope that they do. here's the problem. that the moment the fed decides that they want to do this, if they actually do, and they begin to make moves to raise interest rates again. wall street doesn't want that. the banks don't want that, the cheap money that's floating around out there that the markets are eating up and gobbling up. they don't want that. and so what i believe will happen is that wall street will respond with a tantrum. that's what they've done in the past. every time there's any kind of indication whatsoever, that there might be an effort to even slightly raise interest rates. there is a response from all walter and it looks like, oh, there's problems on wall street and then the fed back. so i think that's what happened again, the markets like the conditions right now. they like that cheap money. they don't

care that it's bad for the economy overall. that ultimately these policies would crash the dollar very likely. and yet, they want to keep things as they are. so i don't think there's enough of a backbone in the federal reserve bank. actually see this group are and i want to bring in peter shift into this conversation. he is the chief economist and global strategy at euro pacific capital in our friend here on boom. but i don't know how much about you heard peter. but what do you think when it comes to the federal reserve actually pulling back on these policies? what's actually going to happen here because of all, even though the federal reserve follows the route with what is indicating it made do, and gradually raises interest rates over the course of the year. so that by the end of the year, they're all the way up to one percent. one percent is a highly stimulative rate. remember that's the same rate that they slash interest rates to in 2008 to deal with the financial crisis and the great recession. you are not going to fight inflation with that piper steamboat monetary policy. you're just

gonna make inflation worse. so the inflation problem is going to get worse, not better. the cpi is going to be moving up and even faster rate at the end of 2020 to that it is. now, if the fed actually follows through with its time table, so what we actually need if the fed is going to fight inflation, we need to go lose money to type money. and that means interest rates have to be above the inflation rate. well, even if you buy the government's inflation rate of 6 or 7 percent, that means they've got to go up to 7 or 8 percent. what percent is nothing? so everybody is making a big deal about about nothing. imagine what the market would be doing. it had to factor in that type of interest rate that would actually be necessary to do something about the inflation problem. yeah. then certainly doesn't seem like they're going to do much more than that one percent, at least at this moment. no. be interesting to see how the markets react to that.

now, christie, we've got about 30 seconds left in the segment, but i do want to get your take on how much have investors come to really rely on the fed easy money policies over the last 2 years. and is there a lot of panic when they start pulling back? absolutely, there will be in the markets become extremely reliant. i think that goes without saying, everyone will take risks when money is free. so now on all of a sudden the spigot has stopped. then you see equity is falling and we've attained some crazy evaluations. a lot of techniques, in particular over the past couple years. the validation that are simply mind boggling and really out of proportion with the actual business. but now all the pumping is going to be rained and so there's going to be some major headwind the market as a fed moves down a more hawkish path. and in response to the hawkish minutes from the federal reserve, december meeting, we've seen a significant reaction from both markets and crypto currency. this comes as a new report says crypto currency linked crime in all time high in 2021. but that really hasn't taken away from the interest in crypto currency. in fact,

even goldman sachs said, is it expect bitcoin to hit $100000.00, but that, that it will take, it will take store a value market share away from gold in order to make that move. now i want to bring back our panel, obviously here, and i want to start with peter. now peter, we know that you are, are well known a well known crypto currency skeptic. what do you make when you hear these reports? number one of all of this crypto currency related crime and scams and how much that's been involved in that? well, 1st of all, you know, there are no hawks at the fed. their hawks are is extinct as the dodo bird. they're just degrees of doves. but when goldman sachs is talking about big coin going to a 100000, i would take anything they say with a grain of salt. they are notorious for doing the opposite privately of what they say publicly. so if goldman sachs is touting big, quite 200000, they probably have some big coin they're trying to get rid of. and they're trying

to pump up the market. but i think bitcoin is probably dead. i can't think of any valid reason why any institutions would be looking at bitcoin. now if they were thinking about, look out it when it was 50060000. now that is barely $40000.00. i think they're going to lose interest. there is no way you can make an argument that bitcoin represents any kind of store value. it doesn't have any value to store. it's simply a speculative, okay, and, and i don't think the speculation is worth it. i don't think the upside potential is worth the downside. risk, i think if you want to speculate, there are much better ways to do it. if you really want to save haven, if you want to store valley or water with lation hedge, i think goal this far superior to bitcoin. if that's your goal, chris, the i want to give you a chance to respond to that. what do you make of peter's comments, and how do you see that race between bit quinn and gold playing out over the next year? might i add the gold is a non interest,

very acid. so if there actually is an interest rate, high gold is going to be one of the 1st assets to get dumped. so right now we're in an environment where we have high interest rates and on stability and people want a flight to safety. so when you're looking at a flight to save the asset and in consideration for bit quiet or goal, i feel like big coin is going to be the acid of toys. because one, there is actually appreciation value. there's a ton of intrinsic value to bitcoin. as we talked about in the pot, that gold really doesn't have because right now, gold is just a standard. the dollar is no longer back, a 5 gold anymore. whereas hey, coin actually has its intrinsic value. and to that point, even like special money, high store cars, they propel, they actually made a joke of the fact in the grand finale like spoiler, they made a joke that gold and the central banks have absolutely no value at all. to this presentation. i'm going to say that big point has intrinsic value. it's just a lie. and 1st of all, we don't have high interest rates. we have negative real interest rates. that's

what competes with when, as long as interest rates, we're not going that we're, we're, we're not gonna have positive real interest rates. the fed as talking about moving interest rates to one percent by the end of the year. inflation is 7 percent. even if you buy the government numbers, so when you have a negative 6 percent real yield, that is extremely bullish for an asset like goal. but it has, for as far as bitcoin is concerned, since it has absolutely no intrinsic value. the only value point to place allies ation of it. yeah. because the ledger all those are brand new to the internet has never seen before that the internet you don't have as well as d. my has been truly an alley industry. interesting is a value on that and we had it down to primrose path and financial ruin. but why

don't you learn something about about the comics before you come out of program like peter let that be installed to here. and fortunately, we are at a time with this conversation. i appreciate all 3 of you having this discussion, peter ship of euro pacific capital, i boom by co host fed swan and christy, i thank you all for for joining us in it. all right, and the nor strip to pipeline may be 100 percent complete, but the campaign against it continues to bite. administration has been vocal and its opposition to the pipeline that runs from russia to germany. claim me, it would give more control. busy over europe while taking gas transport profits away from the u. s. allies like ukraine. however, as the project continues to move forward, secretary of state antony blinking, took a different approach. falling a meeting with germany's foreign minister. take a listen. somebody seen what st. tooth is leverage that russia can use against europe. in fact, it's leverage for europe to use against russia. are now rachel,

and i have to wonder here because it feels like the united states government and the opposition to the nordstrom to pipeline has spent months. if not years, saying this was going to allow russia to have leverage over europe and over germany, but that's not what it's me blinking just said, yeah, he's saying the exact opposite. and it's fascinating to see how the binding administration has carried on this campaign from the trump administration, and which they specifically said that europe should not have this pipeline, that they themselves negotiated with russia for their own region. and they've said that it would be because russia had too much control, so it's an interesting flip flop there. it's also a reminder that the u. s. is drive time and time again to stop this pipeline and they have failed miserably out it and continue to do so. it'll be interesting to see what the response for proponents might be to that comment time now for a quick break. but when we come back, telecom companies and aviation regulators have come to terms on a delay to a 5 d rollout. but what exactly were the concerns when it comes to air therapy? we'll break it all down as we go to break your,

the numbers with ah ah, is your media a reflection of reality? in the world transformed what will make you feel safer? isolation for community. are you going the right way?

or are you being led to somewhere? direct? what is true? what is great? in the world corrupted, you need to descend a join us in the depths or remain in the shallows. so what we've got to do is identify the threats that we have. it's crazy, even foundation, let it be an arms race is on, often very dramatic development only personally and getting to resist. i don't see how that strategy will be successful, very critical time time to sit down and talk with

a child beginning with which one is a better way to assess my william. let's use a curriculum. well that the game is that with a couple of enjoying you, i wasn't deal if the department issue the machine that it doesn't work with any more logical put that i'm on my back to be me as our one with the refuse i

welcome back. we wanted to follow up on a story we covered earlier this week, telecom giant brides and an a t and t on monday agreed to a 2 week delay and deploying 5 g services after refusing to comply with a request from ation regulators to do so. the compromise pushed back the roll out of the c bad wireless devices to the 19th of january. now the next 2 weeks will be used by regulators, airlines and wireless carriers to look at mitigating 5 g 's impact on flight operation. had the telecom giant move forward with the deployment on wednesday as planned, the f k said it would for sunday institute flight restrictions, which included limiting the use of certain automated systems. now in covering this story, it raised a lot of questions about how exactly this could impact flight safety and the ability for pilots to do their job. so you're ending it now that the stuff at all. if i let healthy hughes from popular youtube channel 74 gear, kelsey is great to have you on the show today. now when it comes to the story as

a pilot, how concerning is this? and have you already been trained or briefed on this issue to ensure the safest travel possible? so there's been no official briefing or anything because it hasn't rolled out in a way to really impact that as of yet. so there hasn't been any official briefing that that has been rolled out to any of the airline during the pilots that i know i've just been reading it in the past. like everybody else about how there's a possible conflict that can happen in flight. and now the f a actually warned of restrictions including limiting pilots, the ability to use some automated systems that help land and aircraft during say, bad weather, which they say could greatly affect air travel and cargo transportation. how big of an issue is this for pilots to have some of this automation actually go away while in flight due to wireless signals. so it's not actually the, the in flight stuff. that's actually an issue. the major problem would be from everything that i've read, there's one system that we use during bad weather and it's

a radar altimeter that basically let us know how close we are to the ground. so without that, the last 50 feet or so the automated or automatic landing system that we use during very low visibility would be impossible to safely function. and so some plane, when we're doing a flight, if we're going to an airport where it's very cloudy, or very low visibility, we wouldn't be able to go there. and so that whole airport would be shut down. whereas right now we can, if the plane has a capacity to do it, it's able to land there just fine. now when it comes your story like this, it always kind of reminds me of back in the day when we 1st started really carrying cell phones on airplanes. and they said, you have to turn your cell phone off. it could mess with the airplane signal or something like that. and that turned out to be a mess. but regulators are now saying that new cellular services could confuse cockpit safety systems as well. how important is that to have all of your tools at your disposal and is a very real concern moving forward? well, it's actually find you say that because i actually just talked to

a friend of mine who is in europe and before landing they actually made an announcement to everybody in the cabin to turn all their cell phones off, which is obviously not something that we're doing right now in the us, so that's the 1st time i've ever heard of something like that happening. but it without having this system in place. there it is something that we use every single day. so would it impact us? absolutely, on a clear day it wouldn't be nearly as impactful, but you know, pilots like anybody, we have a normal way that we're used to doing everything. and now if you change that, then it could be a problem. again, especially the major impact would be any airport that has low visibility or things like that, that whole airport would be completely shut down. so all those planes that have to go to other airports and you can imagine then what would happen in those airports because they're not expecting an extra 50 or $100.00 planes that try to shoot over there. an expected like. and now kelsey, despite these concerns, cell phone companies, they've been quick to point out that as even mentioned in europe,

there have not been any accidents in other countries where 5 g is actually operational. and as we talked about earlier this week, they kind of release the band. i know that's not your necessary expertise by any means. i'm not trying to put you in that position, but as a pilot who's putting the lives of hundreds of people into your head doesn't do enough for you to actually hear something like, well, they're not having problems elsewhere. well, you know, the thing is, is that it's one of those tough, tough choices. because when you're dealing with the f a, they're always going to err on the side of the sound. like when you go to the doctor. and the doctor said, hey, we don't want you to walk on for 2 weeks. could you walk on that for 3 days? you probably could walk on it after 3 days, but they're always going to err on the side. the safety of the f a is going to the same thing with us and for the general public, they're always going to say we want to just test if they're asking for 2 more weeks, i think in the gram schema thing, that's not really a big deal they're trying to make it a stay for everybody as possible. so i just have to trust their judgment in a situation like that. now we've got less than a minute left here, but do you trust the communication that you're getting? cuz i know it's one thing when you see kind of these media reports and you see what

the f a is saying, do you have confidence and do your fellow pilots have confidence that when it comes to this rule out that it will be handled appropriately? i think so, i don't think that the f a is going to let anything get into place that's going to really endanger the general public. so this system would create a problem. but really in a very small case, a very low visibility. the rest of the time, it's not a necessary thing that we have to have, but i don't think they're going to let something roll out that would generally increase any type of safety risk for the general public. no, we definitely hope so, and we'll continue to follow the story as it goes along. kelsey hughes from 74 gear . thank you so much for your time and insight today. thanks for having me. appreciate you. and finally, we have talked about many efforts to limit carbon emissions in the path and it seems that new french advertising laws may be joining that cause. now car companies in the nation will now have to put disclaimers on ads, asking people to consider a greener method of transportation as well. now include messages like quote,

for short trips, choose to walker cycle, think about car pulling or take public transit daily. now they say the messages must be easily identifiable and distinct. if a company doesn't properly comply, it will face a 50000 euro 5. the regulation was approved on tuesday of this week and takes effect on the 1st of march. and rachel, this really is reminiscent of you know, how tobacco companies used to have to put disclaimers on their advertisement. i don't even think they're allowed to advertise anymore. and how obviously alcoholic beverage companies now have to say, drink responsibly when it comes to gambling. you have to say if there is a problem and give the proper numbers to call it everything. and then i'll be interesting to see how many car companies want to sign on for that one. see how creative they could get with it. that's for sure. that's a good point, and that's it for this time you can catch boom, but the on demand on the portable tv app available on smartphone, the tablet 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 it out as well dot tv. well see you next

time. mm ah. this isn't an open it even to see children have been kid for at the fountains. house for a does not court mom much mom with with a nice the medical show in the middle. the issue a violin mom on is violet that dana mom. yes. a

shuttle i can redeem with. i mean i just financial survival guy. when customers go buy, you reduce the price, didn't help well, reduce the lower that done or got it. but what's good for food market? it's not good for the global economy.

ah ah, i have given the order to open fire and kill terrorists without warning. because president claims 20000 extremist attack, the country's biggest city, and deadly anti government unrest. we also thank the allies, including russia for sending in peacekeepers. leave questions about the nature of this request and whether it has it was a legitimate imitation or not. we don't know at this point, washington questions whether it goes excel and how they write to invite its own allies, this by the country being hard to all the usual assistance packed under the c s t o alliance culture coming up on the program, the price of bitcoin plummets 10 percent after an internet outage in cows, expand tech, so it's a huge share of the world's crypto life.