all day on popular political progress. 3rd and both on the political right. especially those who are trump supporters. oh is it is dangerous actually. okay, that's how it looks for moscow so far this wednesday i'm calling bray back. we'll next up data in around 30 minutes. you're watching archie international. ah . price fixing is the problem. if you wanna free market, you've got all, let the market be free. you can have half of the market free. and then half the market fixed. do you end up with the problem that we have today? ah, i mean, ah,

i'm absent as senior watching a brand new season. oh, going underground, coming up in the show, victims of thatcher, i think, in omics over 160 people are dead in oil rich cars. exxon following protests sparked by a doubling in fuel prices. but what is this got to do with the united states and it's western allies? we speak to a senior economist from the reagan administration, who was later appointed as chief adviser to the former catholic president. no, so hon. no, sir, bye have and as jo biden's may be a war advocate, top diplomat and to the blanket threatens russia with all but nuclear war seemingly over ukraine. in a week of critical talks, we ask for me u. s. government, military strategist, edward, look back whether we are entering a new dark age, all the same, all coming up in today's going underground. but 1st, whilst here in london,

morris johnson faces allegations of breaches of corona virus regulations. the future of a new global architecture is arguably being built in resource super val cause exxon in the middle of central asia before accusations of a. so nato color revolution service protest is on the streets of kaiser sun demonstrated against inflation. something president acc i have has blamed for the unrest that may have killed, upwards of 160 joining me is one of the world experts on inflation for me. u. s. government senior economist, professor steve hanky of john hopkins university in maryland. thank you. so much cheaper, thank you for coming on. i want to get to inflationary pressures in a moment. i mean, we've had previous military policy committee. people on this show who, well we've, we've express skepticism about the politicization of interest rates, but i want to go straight to cuz it's fun and your adventures in kazakhstan, tell me about being chief advisor will be it for sure. while to miss to knows or by have because it's the oh, it was an interesting episode. i went down,

i was actually a state counselor in lithuania, where i'd install a currency board in 1994 and it had smashed inflation stabilized everything it as i had done. and mikey $92.00 sonia and mazur by off, paid a visit to the ball. dixon and inquired as to who had designed these currency boards stabilize things on and now it smashed inflation. and so for yours truly was invited to accompany the prime minister of lithuania at the time of 1994. to go down and visit as or by often, and we had a good visit. he appointed me as his advisor on a friday afternoon and wanted currency board installed over the weekend. well,

i, i, i resisted because i had not had time to do really any kind of due diligence. and the, the whole thing never happened to make a long story short. and if it would have happened by the way, that the tang would be completely stable if it would be a con of the us dollar. and we wouldn't have any inflation or much inflation ah, in cash extend. as it turns out, i think the inflation r story was kind of a ruse in this recent upheaval because inflation is only running at about 8 percent and can extend which, which is a bad mouth, but it's not, it's not a really high spike and gas prices what do do i understand that who is more as hillson, who destroyed your due diligence attempt behind the scenes is i would you think

happened? well, it was clear that there were forces in the scene that did not want to see. i will tell us everything. russians, and i think by now it's, it's quite a while ago it was a, it was a long time ago. and my, my conjecture was that there were plenty of outside forces. i, imbedded in the administration that's not running the administration and the due diligence never happen. by the way, simply because the documents that i would require to do such a thing or never forthcoming, even though i was as are biased chief economic adviser for sure while yeah, but now new chief advisor, you obviously didn't know about how much money was coming over here in london, i think quite a bit of cosmic money is repeatedly stored here in london. well,

that was some time ago. i think a lot of that wanted money started slowing many, many, many months if not years after i was visiting in 1994. well let's, let's come here and that, that does get that those get to one point number one was let's just get to this inflation thing and jessica and right now the in the, the, the, the inflation is 8 percent. the get the inflation down to the inflation target to the central bank and catholics down, which is 4 to 6 percent. they would, they would have to cut their growth rate and the money supply measured by him $2.00 and a half because now that growth rates about 23 percent and to get a gold and what i call a golden growth rate. if i was running things and wanted to get an inflation target of 4 to 6 percent in cash extend,

i would be trying to control money supply and getting it down the growing about 10 percent maybe as high as offers. okay. some other economists with different say, you just subsidize the gas prices more, but i want to get your sample well. i know that well, the gas price was run to the money with joy. yeah, the yeah, the gas price isn't inflation. that's a relative price change of one commodity, not not an overall in that. so everything inflation is, is a big basket of goods. everything on the economy, not just one bank. as soon as you bring this up, i mean, i was going to ask about currency board. you, since you are an expert on inflation, there has been a certain degree of a richer kind of reflexive thinking about this. why, why it housing costs of so improperly represented in u. s. c. p. i figures by the united states?

well, this is an old story. they've been revising the way that they actually accommodate this in the price index for a number of years. and it does have a great may imperfections associated with it. it actually all i what's really going on in the market, it doesn't reflect what's going on a very well on the market. that's a long technical thing. and i'm a professor. it is known since, isn't it? really, i mean, the oil, britain has at least trying to create a new c, b i h index, which no one cares about even when they're working out new public sector pay. but that's for trade unions in the united states. i mean, the inflation figure in the united states, given that most americans, a huge amount of their income is spent on rent or housing cost. it's just not the c p a is a, is a figure for wall street. well,

they're all right. it might be a figure for wall street. the only figure to be watching in the united states is a growth rate money supply that, that is the key. milton friedman thought us this a long time ago. and that is, if you want to keep stable prices, you cannot produce excess money and cents. a coven crisis, started in march of 2020. the broad major money in the united states has gone at 38.6 percent. and, and of that, of course, some of it is used to accommodate real growth on the economy and some accommodates the increased demand for money in the economy. but you're still left with a residual of about 75 percent. that is not used to accommodate real growth and

accommodate the demand for money. what. what happens with that? and you have inflation. and you know, having said that, you mean clear that the cans act and stimulus biden's similar stuff is not something that feeds into the inflation by creating money supply. i don't far down that actually i want to get that. you mentioned milton friedman, and in those days, i mean reputedly, obviously the cia killed the salvador, i end is the accusation. these days economic sanctions are used while you have you been saying that the position of economic sanctions by the united states is bringing blocks closer and closer together? well, let's talk about sanctions for a minute. i, i'm a post the sanctions for 2 reasons. one is a matter of principle that is i, i'm, i'm a middle friedman, free trade, free market, classical, liberal kind of economists. so as a matter principle,

i'm opposed to them how in the world can you oppose an agreement between a buyer and seller to willing parties and put sanctions on them in ways such as the state department and the president bridle. well that, that, that's, that. so they're going against the free trade principal. so i'm opposed to that. the 2nd thing is a practical aspect, and that is the history of sanctions going all the way back to napoleon st continental system. they don't work. they don't work to achieve their state and of jack if usually if you go to war with somebody in effect by putting sanctions on, you are causing that person or political party or politician whatever to stay in the saddle because they'll try to

protect themselves. and though everybody on raleigh around the flag was, let's say you put sanctions on country a, what happens? everybody in country a human are 3rd, most of the government, they start rolling around the flag and protecting those who are in power. so it's counterproductive. this is a history of sanctions. the sanctions are just simply for losers. they, they don't work. and i think they're a bad thing to do in principle in the 1st place to remind us. remind us what happened when the x ha boss of will was secretary state to mike pompeo cooled you about imposing us sanctions on on kong. well now, why year before last? now it is a secretary on pay a did call me for my advice on the proposition or proposal they were considering to put financial sanctions on hong kong. and i was adamantly against those. and

he was adamantly for those. this was on a sunday afternoon. we had a talk for about 35 minutes, and monday they had a white house meeting with president trump and they were, they were next. basically, my arguments won the day because hong kong does have a currency board. the hong kong dollar is a clone of the us dollar. it's fully back by us dollar reserves. and the u. s. was, i think, stupidly try considering even putting financial sanctions on hong kong that would have restricted the use of those dollar reserves. that would have been really taking private property from hong kong, and the private property would have been us dollar reserves, if you would have been freezing them basically perhaps steve, thank you. we'll have to get you on soon to talk about crypto. a lot of people

interested in you of use foot that i know, but thank you very much. thank you. after the break, will the red lines turn to battle lines? can talk between the u. s. in russia to prevent all out more. listen will come. you haven't got to have going on the ground. ah, now we have e cigarettes, i just heard that it was a healthy alternative to cigarettes. do we trust tobacco companies with their message that these new products are actually going to reduce our d sugars or making the tobacco it ah, welcome back. as the nato russia council meets today in brussels, to discuss the growing tensions of ukraine that learn kazakhstan and join from

chevy chase in maryland. by for messina, u. s. government advisor, edward looked back, author of seminal works like who data a practical handbook in the rise of china versus the logic of strategy. thank you so much. talk a lot back for coming on. i've got to begin by just asking you what you think the biden administration is up to. i mean, there's reports of alms for qu in bolivia, the t p l f in ethiopia, support for continued bombing, armed support and gaza in syria. now, the threat of massive consequences against russia over ukraine, with some people saying alleged u. s. involvement in, in events in kazakhstan is, is the, by the ministration out of control. a lot of this is fiction was happening in bolivia is exactly mapping and has anything to do with the u. ready s 0. can i, can i just interrupt? no, i just dropped back as the president of bolivia was on this program with very much, but i, i get hit president asa was on this program a few weeks ago. you telling us about us involved with him?

and if you look me up, you'll find that i have been a living in the mount, the belinda. i'm glad. over 19 years i have a ranch and this is pure fantasy. he was government, his absence, absent completely absent. it doesn't do anything by the bolivian president and wants to throw at divert the attention and sound which it surprises me because it's quite a competent presidency, which is doing rather well. so actually it's been mysterious while you want to create this fraction when actually they do not need that distraction. adult re sound policies there. so let's move ukraine simple, but russia is bluffing about your credit. because if you wish to enter the ukraine, you don't need 100 than 80000 or something like that. you need about 600000. and the ration i mean doesn't have 600000, but protein strategy is to simply apply pressure. and like,

it was in georgia and he went bike in georgia bike in georgia until the georgia's got the message found the president who was differential to moscow in a reasonable way. and then they start baked in georgia. that is the matter, the ranches of pollutant is not one of these hard headed and screaming things that's left to demagogues, internet stars. he waits patiently for right fruits to fall into his lap. he gets a said yeah, because the crimea, because they were right fruit and he had to do almost nothing. ukraine is not right . so if you wish to ripen ucc, so having less than 200000 troops, there will not do the job. it will need to have a much bigger commitment. now, as for the u. s, the u. s. as no intention of sending an army to the ukraine,

to stop any russian and sorry, there are any national force or special forces from the united states and from britain in new great, special forces, very useful in sierra leone, the useless place like this. but you don't confront the russian army with special forces, quote unquote. now people will need pads and some, you know, when 15 of them are, plenty of them can go in the back of some of the london and these guys in there, that is great stuff came. when you go, he gets to rush around me and you tried to post on, so i guess you'll get killed fast. ok if you wish, compose russia militarily and some. mr. put in. it is a ride. true doctrine. he will not invade you crate. when you crank with an inadequate small force which will only provoke the ukrainians who wish to resist to resist. and mike even promote the entry of some, you know,

for your p. m forces conceivably and other people. when you invade the country with insufficient forces, you start to war, you don't end the war and put in being a competent fellow when he starts. this is just, they start and the end. i'm very close and here and there will be no act because, but it will never, they will never get to love. that will never go to the rest, a new crime and long before that they'll be all kinds of consequences, including of course, the american sanctions, the european sanctions, and then be on women. but the appliance functions of 3rd party, the i'll, i'll get a chance, i'll get to sanctions in a moment. and i mean, i'm sure you watch maybe sometime, some of the mainstream media in nato nations. they keep talking about in a minute invasion. you might have to explain why they're always doing that. what,

what is your opinion on then doing that because there are 200000 blue, they say 800000 in the proximity. it 1st, the russian forces have been in easton ukraine for a long time. so the, the already have invaded that's part of the country. secondly, there are these forces which have been massed there as am not sufficient for the mission. but what brooklyn is trying to do is to send the message to care. all you have to do is to come up when a president, when did the same president, with a policy that's accepts the fact that the ukraine has always been an integral part of russia. indeed, the russians can say that they are in part, they became an integral part of ukraine. kia is where they experience started, and the russians rally to care historically. so the mouse in the ukraine runs off

and becomes an independent state, is absurd from a russian historical point of view. and of course, russia denies it ever. we are the ones that i would, i want to just skip along to blink. and what you think of blinking in the structures around him since the bible became president because he was obviously a bomb as deputy national security adviser. thank is. blanca, his biography is pretty transparent. is a parisian american. i'm 1st month when he was 13, you know, the civil comes from being terribly old and he's a nice boy and he is certainly marked and somebody who sits there clocking to upset the world and to. ringback attack mother, russia is on a sunday, or what was your about? what did you, did you give him a call? what happened in libya? i happen to be there. when it happened there, there was an $830.00 meeting in the pentagon. on the day of the crusts and them

meeting the tammy and john chase communicate that anybody went is libya and removes mom or get duffy will leave a 100 warning tribes for a 100 years. so i'm don't enter libya unless you're willing to spend half a 1000000 troops and run every little angle of it where people live and buy from the sand. so the joint chiefs agreed with chicks. 7 kill defense bob gates agreed with them and got permission from the white house to issue a statement. i think it was around 10, 28 in the morning, rush in time saying that the united states will not intervene in libya. this is after more america duffy went on television and said that he was going to go go to bon gassy and kill them all. zamarelli examiner. every alley we're going to go. every alley. we're going to kill them all the civil 9, big whatever, the called. then gay discuss permission to say you are still not going to be many

less on that same day, not washington time, but europe time hillary clinton announced as the u. s. believe to be what happened was that there are these national security advisor shows rise that terrible women and the un and hillary clinton went to obama and change his weak mind. ok, so blanket has nothing to do, nothing to do with it. i'm terrible with him and not blinking. that's been obviously many teddy and intervention. samantha powers, we can't let the master of bon guys, you know, zahn de jam. but obviously some of the hillary clinton, they all say they acted do it for you. propriety and strategically turn obama's mind. but in less than an hour, to work out the time difference between washington. and this is one of the horrible

mistakes on the weapons. you have the cumulative since $967.00 that spilled out into the sam. we can see if we can see it don't look like we can see it today. we can see the thousands drowning in the mediterranean and in recent months and ever since the native invasion, i want to get back to punch in. why have you said putin's great crime has been that he did fences allies and the taxes enemies? well, yes, this was the outrageous thing when, when the war started in syria, well, put in then the supported the judge off to manage it. who had evolved into being somebody who was not just machine gunning people, but bombing them with large bombs to run out of bonds. so they would just take all barrels, book explosives and drop them on. i had to submit some bookings approach to this was this, i want can be now to just say i'm so sorry to interrupt the game, but people can see our interview president, i said when we flew into damascus,

where it goes, presidents are denied the killing of civilians are naturally demanded. in fact, it is, i will now confess it's an outrageous law. and then these shayhan for it says the, the different militias of the island white with who are actually in the savings and, and son. and i agree that the pictures we saw people being machine, gun bomb tanks or running them, the bombing, this is all false. it must have been all created. the mistook the chemical ever since washington. that book is message was guess if you are a friend of russia, we will never abandon. you look what happened to barracks. there were 3 guys in the streets and the americans dropped it. i don't do that. you side with me, i stick with you. so what is conduct is imperial you because if you have, you're giving you allegiance to put them, he will never abandon you even if you commit the most greatest cracks. and on the

other hand, he will try to track his enemies the americans. very often. thank you. friends and help the enemies because they are driven by the imperatives of the human rights story as propagated through the system and very often misapplied case in point being me, i'm out where the rainbow the rowing up attack police station before anybody shot that one going rain i'm muslims, most of them from bangladesh in recent years. they keep trying to look for the or talk to mr. in government, maybe 12 of them. and the united states now is $57.00 sanctions on me. i'm a country with the frontier with china and country that that's for to be when the west against china, because china's bearing down on them. but we have 57 different sanctions against

them. so american policy can, it cannot be a reality. that is to say, cannot be serious. it has to be constantly deviated according to human rights interpretation of the different sort. some of them in counter spurious. and behind out there is a story. weight is absolutely true. that if somebody a sam, 2 battalions of infantry, then times genocide will not happen. so lambda is always the counter example. samantha power bill to korea, i'm it and she diverted us policy very effectively because of it. it was 2 in one day. it's not true elsewhere elsewhere when you're trying to get in for humanitarian purposes, you end up killing more people. and i think i think many, many people will agree with you there. we'd like we'd like classic on, on the show that to talk about how and or informs all the policies that arguably

killed window displays tens of millions in the since 911 doctor edward fact. thank you. thank you. bye. that's ever the show will be back on saturday. 51, the as to the day more i'll get off. he was proclaimed premier of libya, turning it into africa's richest capital nation before british and us warplanes area. li bombarded it in 2011 until then he would talk to my social media. let us know whether you think talks on ukraine between the us and russia, will fail. ah, price fixing is the problem. if you want a free market, you've got to let the market be free, you can have half of the market free, and then half the market fixed. do you end up with the problem that we have today? yes me, i didn't know if that will at least the typical there's only 9 but already 8

university students that away on slash a point. let's see. yep. you've got the last, there's dos to deal with a team with no recalls. he really shows control such programs. now. bush 19 percent and of course with level you're special. i was the yeah. my i say the 1st grade and i was thinking what the plan was to get on the she was in your mind getting this, i'm doing that with soon lose with me with his teacher was reason just released a good. 6 a

i had like this hour's eyes turns the latest round of moscow security talks with the west. happening right now, rushes amboy to washington, warns us officials remarks are an attempt to derail the negotiation. cutting your pets and do star jumps if you want to stay warm this winter. a major british energy company feels the heat for its advice while fuel costs rocket. i think i've completely lost the floor on that one. i have to put way. not she paid me crazy now because we're trying to get the call down. what else? i said today more top talent which the baby say this time a veteran presenter who's left off to 46 years telling our teeth it's because too much work agenda being pumped into show they were very keen.