not only telling us pleasant lies, i'm the show. we dare to delve into unpleasant truth. ah, is the earth still large enough to satisfy the ambitions of jeff bezos? you know, it's got its tentacles in so many aspects of the economy. there's nothing that amazon isn't trying to get into to step by step. the amazon empire has extended its group on the world that walks like end up being quite like a dog gets a dog. so amazon looks like monopoly trades like a monopoly makes money like a monopoly behaves like monopoly. amazon essentially controls the market place. it's not really a market, it's a private arena, a world where a single company controls the distribution of all day, the products and the infrastructure of our economy. is this the world? according to amazon, it moved to the simplest form,

everything started and all that needed to be done is someone with it before actually. and then this stuff expanding. so where are those e creations come from and, and hopefully the switch is not a contribution to signing with bed room, but the one bed the show you can subordinate, i'm ready to board and i'm rachel one. and then watch anything coming up. the federal reserve plan to change ports in 2022 are being backed by president. fight it, but well, the measure it to be and up we can back rising inflation with god. plus, we take you to russia where the nation central bank is calling great, come fan of crypto currency and mine. it will take

a look at wasn't 6 net and where the oil prices skyrocketing could be 2 feet simple digit pharaohs. we'll talk with an expert in the field about the forecast. we've got a lot to get to go. we leave the program with the state of inflation and central banks around the world look to combat rising prices. here in the united states, the federal reserve is preparing to raise interest rates for the 1st time since 2018 as it continues to pull back on billions of dollars an asset purchase it. now, along with criticism of the fed, there has been a lot of talk about what the central banks role actually id and president joe biden gave his take during a press conference on wednesday. a critical job and making sure that the elevated prices don't become entrenched. the rest of the federal reserve, which has a door mandate full employment and stable prices. the federal reserve provided extraordinary support during the crisis for the previous year and

a half given the strength of our economy and the pace of recent price increases. it's appropriate as the federal chairman, chairman pile, the fed chairman paul has indicated to recalibrate a support that is now necessary. and while inflation is at nearly 40 here, hi here in the us, it is stored to 30 year highs in the u. k, which became the 1st major central bank to raise rates back in december when it implemented an increase of 15 basis points up to point 25 percent. meanwhile, china is taking a different approach with beijing saying plans to lower its key mortgage lending benchmark. in an effort to support its following economy, the latest move brings china is one year loan prime rate up 10 basis points. and it's 5 year rate at 5 basis points with more increases expected in the months to come. and joining us now to go further on, this is octavia moran z c o o c. now octavio, let's start here in the u. s. i mean,

the fed is expected to raise rates at least 3 times this year, making the move from near 0 up to around one percent. but given the fact that we're dealing with 7 percent inflation are these increases likely to have a significant impact? well i don't think an increasing the interest rate from 0 percent or 0.25 percent up to one percent. it's kind of a big impact on inflation. it might well have a big impact on the equity markets and we're seeing that already. the market seems getting very, very nervous. indeed. i think the fed have to do is basically get this balance sheet under control is not necessary question of the interest rates, but more how much are they buying bonds? how much of the expanding the money supply and the balance sheet is up getting close about 9 trillion dollars and it doesn't look like it's slowing down at all. if you look at the assets on the, on the balance sheet fed that you keep increasing as almost of some linear increase straight up. it's not slowing down at all. so, no, it's not going to much of impact on inflation. it will potentially a very big impact on the equity markets, who are the starting to look at this very,

very sort of skeptical way and substituting correct themselves right now as we speak, even in the face of very, very small interest rate increases. and octavio we heard president by actually mentioned the federal reserve mandate there in terms of ensuring stable prices. that is the opposite of what we're actually thing right now. so why don't you think there has been more criticism of the fad and it's refusal to take action as we've watched prices source so far, i mean, i know they're pulling back some of that q in that, but you say could actually help the stabilizers prices. but it's not doing enough yet, but also by the leg credits of the fed. i think for many people the link between increasing expanding money supply inflation is a bit unclear. so they're not really certain how that actually works. and what the mechanism is, i think it's the most fundamental, the price of anything, the value of anything is set by the intersection of demand the supply. if you increase the supply a lot, you're going to reduce the value unless demand increases the same time. and that's actually what we saw during the pandemic. there's a big increase in demand for holding cash balances for holding money. as people

start to feel more comfortable to spend that money as gonna fuel inflation, dr. price is higher. so i think there's, there's an absence of understanding that linkage between money supply and inflation in general. and then large parts of people in professional authority and in the banking industry and trading actually benefit from the industry policies in the fed as pursuit. so there are people do very, very nicely out of very low interest rates, even if it causes inflation overall. so i think there's the reason that the fed is not been come really under a lot of heat for having pursuit this monetary policy so far. they are certainly helping out the people that they want to help out, and that all comes back to the fact that we're all sitting here saying, wait a 2nd, inflation clearly isn't transitory yet. if you look at the fed for months and months, they were saying the opposite. now, while the u. s. and the u. k are raising rates, china, on the other hand, is cutting q lending rate slightly. now, given that china lead the initial pandemic recovery is their cause for concern when we see them know cutting rates once again what the chinese on a very,

very different stage and the economic cycle than, than other countries. so some in the west, the japan, they, they're in a very, very different stage of role. and bear in mind that got into bank lending rate or prime lending rate of the people's bank are trying to a 3.8 percent. that would be unthinkably high in the us or in europe in the states that just so far beyond what we've seen the market. so the chinese have been far, far less aggressive in terms expanding the monetary supply. and so they've got maybe more wiggle room there to, to touch of that. and also having a big problem right now with the housing market and the housing bubble bursting. so the basically trying to re inflate that the time to use punish policy to drive money into the housing market with using bank reserve requirements in the hopes the banks will lend more into the housing sector. so that's the problem. the chinese are facing basically a crashing housing market and the trying to boost that and reinstate that back up. and we know our tabio, that china has battled energy and supply chain shortages, but they really have the same kind of fight with inflation that we have seen in the

united states and across europe. now, obviously, as you just mentioned, they have a completely different way of doing things, but how have those sorting prices played out differently? and why are we thinking the prices source so much in the west versus what we're seeing in china? i think it's simply that the chinese been more reluctant to lower interest rates. they've had, they've been pumping money into the economy, but the way they've been pumpkins, basically through the banking sector through lending. so that finds his way into any activity, the pores, money to support itself and the housing sector, and mortgages and things of that sort. or of course, prime candidates for that. so the chinese central bank is pumped a lot of money into that space and they haven't done much the wave seen in the west . in particular. the u. s. with things extend districts where basically the government handing out checks the people to go out and spend buy things by based consumer staples and consumer goods and things of that sort. that has not been the case in china. so the passionate inflation is actually quite quite different in the u. s. in petite. you're seeing more sort of your consumer goods because you,

consumer, for us. whereas in china that the inflation that the bank, one to supply expansion looked into, was basic in the banking sector. lending and that housing, so that's why i seen those different passions and bear might the tribes of not be nearly as aggressive in terms of expanding their money supply and lowering interest rates. yeah, definitely different pass indeed. and it will be notable to see how this one checks out in 2022. octavio ramsey of openness, l l. c. thank you so much for breaking that one down for us. thank you. it was another blow to the world of crypto on thursday, as russia central bank proposed banning the youth and mining of crypto currencies on russian territory. citing threats to financial stability, citizens well being and the sovereignty of the nation's monetary policy. russia, central bank has the same concerns about crypto currencies as nearly every other central bank around the world. that crypto could undermine their control of financially and monetary systems though, of course,

that is the original purpose crypto currency. in addition, the central bank called out the usual concerns about money laundering and potential harm to investor. so let's take a look into the deeper and joining us how to do so is boom by co. busy crypto analysts, chris, the i now chris the, because nearly every other central bank has made this declaration about crypto currency from asia to the united states. does the stance mean much it? and i mean, you know, if the central bank says something, do they have to basically get everybody else on board? i mean, not at all. look, this news basically did even register for bitcoin. maybe because they coin is now so used to this news anyway, every single day we have a new bad every day. another regulator thinks that they can strangle into submission. so instead of being worried, bitcoin instead, 3rd bringing above the $43000.00 mark of resistance this morning. so rather than learning from history and not repeating the same mistakes, it looks like russia is just going to try to go down the same path as china and

repeat all of their mistakes. because at some point it just becomes laughable when countries try to do this. maybe it would have work. one big one was still an infancy. but really at this point, the cats out of the bag and there is no going back ever. so no russia stance against crypto means very little and the market agreed as it really didn't care much about it at all. right, and i know that it's not surprising to hear that from a central paying for the same time. it is notable how crypto currencies, like the coin have responded. now, at the same time crypto currency mining, which has flourished in russia over the past few years, and even earned some nods of approval from the countries parliament last year, also came under fire. at the same time, russia president even indicated his support of crypto. just a few months ago. so how do these positions conflict with one another? yes, so there's always going to be some sort of contradiction when it comes to crypto

and politics because on one hand, politicians and the government like to mass power and control. so when they see a fancy new piece of technology, like when a block chain, they want to for themselves. sadly, when they come to understand that they realize that it is not in their power to control it. so they struggle with it still trying to figure out how to use it to their benefit. but at the same time, they fear how it could be used against them to death, their power and influence. so like china, the path that russia will most likely walk down is the one of cbc, where they appreciate blog chain and love it for giving them more insight into the spending and saving habits of the citizens. and the direct access into the wallets b. c, b, d, c, but at the same time they will do now it's all and claim that all their crypto currencies, other than the cbc, are fraud and illegitimate. like we've always had crypto get power back to the people and monetary power away from the central authorities. so they will always fear the real crypto for that reason. because when there is enough widespread

adoption, there is no way to control your citizens anymore. but in any case, i'm actually quite surprised that this came when it did now, given the situation with russia and ukraine, because if things were to escalate and if the us could potentially intervene by cutting russia from the swift network, them bitcoin will actually end up being it salvation, i think in a case like that we could really see bitcoin and then at least in the short term, definitely an interesting point there. christy. now top regulator in the you actually is that the block should ban. looking at the mining situation here, we should ban a form, a big point mining that uses up up an excessive amount of energy because it poses a threat to the continents climate gold. now is this a new line of attack on crypto, and how likely is it that such a band might actually be adopted here? i mean, i think it's really ironic, given that miners have been working to increase the proportion of renewable energy in the mix that powers are hardware and to do sweden and norway. but apparently,

authorities are now complaining that a significant amount of renewable energy is going towards mining, instead of helping traditional services move away from coal power, energy sources. and that really isn't quite fault at all. i don't think they can form a band against proof of work because then that would set a very dangerous precedent. then we can just go around to other industries, accusing them of consuming too much energy. like what is considered too much because that right now it's so arbitrary. the entire bitcoin ecosystem comes in less than 10 percent of the energy required for the entire traditional banking system. or how about the gold industry going consumed less than half of the energy inter, what hours per year compared to the gold mining industry? and right now, we're only talking about the amount of electricity consumed, not about how efficient or inefficient it is, or how much byproduct waste was concerned. because if we really did care about the environment, then all of those factors should be considered. and one of the worst polluters would then be space, sex, and all of the emissions produced every time

a rocket is launched. so i think it's really ironic that they're trying to punish an industry that literally uses 75 percent of renewable energy already in attempts to be green. chris, there got 30 seconds left a if they were to band mining, especially like continent wide or in russia, which is a huge player. and this is that going to affect the point price. it will absolutely affect the price because price is directly related to big coins hash rate. and we will see something very similar to what happened when china had their mass mining exodus. and they'll be a temporary drop in the big point hash rate. while all the minors have to regroup and exit and try to find where else to go and with russia, that's going to be a very, very big blow because there's a huge mining pool is located in russia, given their amount of cold amount of cheap electricity, the amount of cheap oil that's available, as well as a cold climate available for all their rigs. so yes, that will be a temporary blow if that happened after the chris, the i of boom bus. thank you so much. and speaking and

proposed crackdowns, the senate judiciary committee is debating on thursday over whether to pass legislation in an attempt to take on big tech and they're increasing power. now the goal is to prevent companies like apple, google, amazon, and facebook from giving an unfair advantage to their own products on their own platforms. but now in response to criticism, as the legislation could give an unfair advantage to foreign companies, lawmakers have expanded the criteria to include companies that have 1000000000 monthly users and have reached the 550000000000 dollar market cap threshold. as a result, the legislation would now also target china's to largest social media companies, tick tock, and reach at. now you may have guessed that the tech companies aren't too happy about the proposed legislation. then you would be correct in that matter. in a letter posing the changes, apple said the open app market that would be quote detrimental to the safety of the app store by allowing apps that are subject to the company security standard. now

google also argued that the changes would cheap it at the brand and take away from its services. both google and apple have been heavily criticized charging a 15 to 30 percent commission and for requiring that purchases to go through their own systems. it's also notable that while big tech is too happy, a coalition of smaller companies have voice their support for the legislation. yeah, it's interesting because i feel like whenever we talk about anti trust, it seems to be kind of the big dream. and finally, taking on big tech like they're finally going to do it this time will then all of a sudden they add tick tock and we chat to it, foreign companies. and it really makes you wonder, are they going to be able to take on this? i mean, i'm sure they can in some capacity the way they operate here in the united states. but i also find it interesting that apple is saying, oh, well, that's going to make it so our secret system is completely unsecure. nobody say you can't still secure your system. i opened it up, give people the ability to not have to charge take or pay you. that is to say for

using their service. yeah, that question becomes, is it actually gonna be path and will it actually have an impact? i guess we'll find that out for a quick break. but when we come back with oil prices surging on heightened demand, the white house says it is tools to control price. we'll discuss this on the other side. and as we go to break here, the members of the clothes, shoes. ah

yes, i'll do now. we're that will at least it typically is only 9, but already a university. students that away man slash a new modest but when the let's see. yep. you've got the last, there's dos to deal with the get it then local, choose to snable to call a pepsi. could i team of of yes. so the law is mother, you wanted younger terms, the he michel, nobody calls, he really shows control center program, use them now brochure new passcode. and of course with them when you're special, i want the yeah my but i just have a 1st grade and i was thinking what the plan was to get on the she was in your mind shifting this i'm doing that. it was just for doug that he was not to call it. i knew it with soon lose

with his teacher was reason is balise. we'll come on. 6 down i woke a mac, oil prices rose slightly on thursday after a brief debt that brought them off of 7 year highs earlier in the week. the price of international benchmark brent crude and west texas intermediate were up just shy of one percent hitting over $89.00 and $87.00 per barrel, respectively. the increase comes after the energy information, the agency and now it's us. stockpiles rose last week by more than half

a 1000000 barrels, while analysts had expected a drop of nearly 1000000 barrels. meanwhile, a spokesperson for the bite and administration's national security council sat on tuesday that it's tools continue to remain on the table if rising oil prices become a threat to the economic recovery. so what does the future hold in the oil sector and for these latest prices? joining us now discuss it's kirk edwards is a former chairman of the permian basin petroleum association plan to have you on as always, kirk, what are you seeing here? pushing oil prices up to near 7 year highs and even at 7 your brand. hi rachel. thanks for having made to me. i think it's more panic than the last week or 2 that you're seeing getting the markets. i think countries companies, airlines don't want to be caught short with having to build their coffers with more expensive crude oil or gasoline. and so you're seeing about

a buying going on right now. a senior course at a 7 year high, 7 months. i'm sorry on their inventory, so we're seeing a lot of people buy right now. so i think there's more of a panic boat feeding into this last week to call that price that you're showing right now to kick up to $87.00 a barrel. like rachel said, it was just today. yeah, know, speaking of that panic, we know that obviously the by an administration wants to make it seem like they've got everything under control. they're talking about these sort of vague tools to control oil prices as they continue to rise. so what if anything, can they do at this point? i mean, what does it seem like they're talking about special? i don't know what they can do. they can go talk to saudi arabia because that's going to be the only way producer, russia is really at a point and a lot of country just like united states, no investments kind of made in the last 2 years in drilling for reserves in these countries. because the price was so low, especially in russia and you're talking about your bitcoin mining when they're

making $89.00 a barrel and oil, as opposed to burning it to create electricity or coal. to do bitcoin mining, could probably be making a lot more money having that all and had and so you're not seeing as much of that on the market, but the bad ministration again. what they can do is embrace the american energy producer. the hit on the furthers from so it's like taken office, but that's what they could do. they could work out something with american new producer. we have a tremendous amount of all and gas that we could drill for here in this country. but believe me, the administration's policies do not want us to do it. and they have told us as much in kirk, i guess, you know, i hear that criticism often i know you've been on the show. imagining that same point. can they, at this point, could bite and flip the switch? so to say, no, again, we again bridge. you saw the strategic petroleum reserve that the of that release happening again, they did nothing. a matter of fact, the price went up after they said they were going to release it. and again,

the administration is done whatever they can to get people not to invest in our industry over the last year. and we're getting to have this stigmatism associated with being involved in entered any energy industry at all hearing that out of state . so he could start making some overtures to embrace his own domestic producers 1st before going in, begging opec and russia, and other countries to produce more crude. because i don't think they're going to do it. yeah, and i know you mentioned him calling on opec, and it has been kind of interesting to watch the by an administration say that they want the emphasis to be on opec plus to increase that production. well, clearly, opec is the time and time again that they're not going to because they're making money off of it and they're happy with that. so why do you see him turning to that strategy? i mean, is this just one of those cases we're buying this trying to really buy time and hoping that things will work themselves out rather than turn back on that policy and go back to those producers here in the u. s. that he shot at the beginning of his presidency. yeah, rachel, you're really,

you're saying it an every product to the inflation is sitting every market that we're in the united states right now soon. food as senior refrigerators. it's in everything we're buying housing prices, things like that. so it's across the board, so inflation is hitting everything and it's fitting the oil and gas sector at the same time. so i don't know how you control all of these things at one time. but what happened is the pandemic stymied our economy across the world. the whole world is coming back at one time and nobody's ready for it. so i think that's really the problem you've got to deal with. it's embracing how we deal with everybody coming back all at the same time as far as energy process go, food, electricity, cost, everything is going up right now. and it's only going to get worse than what i think it gets better and fee of getting worse. the international energy agency is actually saying that it expects global demand to actually reach pre pandemic level this year. with all the talk that we've heard about. analysts say $100.00 per per

barrel oil is here is coming when we're just $10.00 off right now. do you see that happen and i have about 30 seconds left. you bet brenda, i do see it happening, happening quicker than probably a month or 2 now. now, any event russia jumping into ukraine, anything that goes on in this world is going to trigger that price to go over a $100.00 a barrel. so i say there's more realistic chance of going up than going down right now for sure. kirk edwards, former chair of the permian basin petroleum association. thank you so much for your expertise, as always i appreciate it. thanks for having me. and finally, it looks like the matter versus entering the world of politics. turkey's governing party held its 1st meeting in the meadow burst with the appropriate topic of crypto regulation. now the organizer spoke about the need to take these types of events into the virtual world, saying he believes that metaphor space meetings would be improved expeditiously and

become an essential part of our lives. it's fascinating video to watch. right? absolutely. and i mean, i think it's never what it's hilarious that there's one guy who said, no, i'm not putting the goggles on, i'm going with there. but it is interesting because this is what we think of when we think of the matter versus it. yeah, absolutely. and it, you know, you kind of think of, all of those guys are sitting right there in suits i doubt they're wearing suits at home. they're logging on to their morning meeting. i think a couple of were their office. oh boy. oh, maybe they weren't in their underwear. just a view of what's to come on. that's it for the time you get bo buzzed. odd man on the affordable pv app available at smartphones, tablets to replay, the apple app store by searching portable tv and see if you can also download it on samsung, smart tv and roku devices, or simply check it out at portable tv. we'll see you next time, a

mac address financing survival guide. when customers go buy, you reduce the price, didn't help well, reduce a lower that's under cutting, but what's good for food market? it's not good for the global economy. so called enhanced interrogation techniques used by the u. s. officials were basically designed as techniques to break down the human mind. forces human being to stay in a certain position doesn't take very long to the pain involved to become absolutely excruciating, but nobody's lean finger on you. you are doing it to yourself. and we started adopting those techniques when i was stationed in mosul. among them were stress positions, sleep deprivation. producing hypothermia is already beginning to be evidence

that these old techniques are now being used on immigrants and children. whatever you do in war comes home. nobody has been held accountable for the torture that happened in the past. the moral authority, the made america award letter sucker fudge of the shimmer of effective interrogation. on this edition of the program, we discuss the ongoing nato, russia pensions. we ask, what is nato strategy? also, what is russia strategy dealing with nato niece ward expansion, and what are the likely outcomes for both? ah,

a, the russian coven vaccines to dig v demonstrates a strong protection against the recently emerged omicron strain according to a new italian study, and also produces more anti bodies than the pfizer jap. criminal negligence. that is how russia's foreign ministry is describing the work of several western journalists and seeking to mislead the public into believing russia wants to invade ukraine despite continuous denials from month. sco officials disturbing declassified in video shows the seconds before us drone kills 10 afghan civilians. many of them children were playing on the street in one of the most appalling incidents in the botched withdrawal from the country. but joe biden says he makes no apologies whatsoever for the disastrous pentagon. hello.