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 u. s. 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 an 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 morales,

the ceo of openness, 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 equity market seems getting very, very nervous. indeed, i think the fed has 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 that balance sheet is up getting close about 9 trillion dollars and that 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 a linear increase straight up. it's not slowing down at all, so no, it's not going to much 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, a 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 e, and that's what you say could actually help their stabilizers prices but it's not doing enough yet, but i think you asked about the leg criticism 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 and 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, that's going to 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 positions authority and in the banking industry and trading actually benefit from the industry policies and the photos pursuit. so there are people do very, very nicely out a very low interest rate, even the causes inflation overall. so i think there's the reason that the fed is not been come under a lot of heat. having pursued this monetary policy so far, they're 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 in a very, very different stage and the economic side colon than other countries. so. so in the west, japan, they are in a very, very different stage of role. and bear in mind that got into bank lending rate or prime lending rate of the peoples bank are trying to a 3.8 percent. that would be unthinkably high in the u. s or in europe in the states that just so far beyond what we've seen those markets. so the chinese have been far, far and less aggressive in terms expanding the monetary supply. and so they've got maybe more wiggle room there to, to test 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. would 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 they're trying to boost out and reinstate that backup . and we know our tabio, that china has battled energy and supply chain shortages,

but they don't 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 seeing 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, but they've had, they've been pumping money into the economy. but the way they've been putting it in basically through the banking sector through lending. so that finds its way into any activity. the borrows 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 bankers pump a lot of money into that space. and they haven't done much the way of 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 basic consumer staples and consumer goods and things of that sort. that has not been the case in

china. so the passion of inflation is actually quite, quite different in the u. s. in petite. you're seeing more sort of your consumer goods because the consumer for us was in china that the inflation that the bank, one to supply expansion led into was basically the banking sector. lending and that housing, so that's why i seen those different pass them better my the trends of not be nearly as aggressive in terms of expanding them. i mean 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 nations 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, and 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 now to do so is boom, but co crypto analysts, chris the i. now, christy, because nearly every other central bank has made this declaration about crypto current. these from asia to the united states, does the stance mean much it? and i mean, you know, with the central banks or 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 the coin is now so used to the 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 worked 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 nod of approval from the countries parliament last year, also came under fire. at the same time, russian 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 a math, power and control. so when they see a fancy new piece of technology like bic when a block chain, they want it 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 their power and influence. so like china, the path that russia will most likely walk down is the one of cbd, sees where they appreciate block chain and love it for giving them more insight into the spending and saving habits of their citizens and a direct access into the wallets b, a 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 a swift network, them bitcoin would actually end up being it's 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 the block should band 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 continent. climate goal 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 their hardware. and to do that, they've actually relocated to countries with developed wind and solar power generating capabilities such as 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 powered energy sources . and that really isn't big point 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 big point ecosystem consumes less than 10 percent of the energy required for the entire traditional banking system. or how about the gold industry? big one consumes 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 consumed. 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 use a 75 percent of renewable energy already in attempts to be green. chris, they're 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 price it will absolutely price because price is directly related to bit quiet hash rate. and we will see something very similar to what happened when china had their mass mining exodus as an they'll be a temporary drop in the big white hash rate. while all the miners 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 and climate avail,

before all their rigs, so yes, that will be a temporary blow if that happened. absolutely. kristi i of boom bus. thank you so much again and speaking, 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 in 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 f. now you may have guessed that these tech companies are too happy about

the proposed legislation, and you would be correct in that matter. in a letter opposing the changes, apple said the open app markets act 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 cheapen its brand and take away from its services. both google and apple have been heavily criticized for charging a 15 to 30 percent commission and for requiring that purchases to go through their own system. it's also notable that while big tech is too happy, a coalition of smaller companies have voice their support for the legislation. you know, it's interesting because i feel like whenever we talk about anti trust, it seems to be kind of this 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 had to talk and reach out to it. foreign companies, i didn't really makes you wonder, are they going to be able to take on those? 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 city system is completely unsecure. nobody thing you

can't still secure system, open it up, give people the ability to not have to charge take or pay you. that is to say for using their service. yeah. the question becomes, is it actually going to be path and will it actually have an impact? i guess we'll find out time now for a quick break. but when we come back with oil prices surging on heightened demand, the white house says it a tool to control the price. we'll discuss this on the other side. and as we go to break, here are the numbers that the close me join me every thursday on the alex silent shore. and i'll be speaking to guess in the world, the politic sport business. i'm show business. i'll see you then. me

. there may, may, we should all be mayor, may, we should all be angry and what's going on, right. can't understand united states history and spend the role that slavery plate is already very formal institution. at a time, united states became a nation. it actually find the nation. the rise of capitalism is clearly on the backs of flight and the slave down if you had investigated lynchings. any great extent. you can't believe that a country and country still stands in brick. i'm from the south. everybody know, know what this thing to some extent. i would argue that we're still fighting the civil war and the south is winning for is your media reflection of reality

in the world transformed what will make you feel safe? isolation, whole community? are you going the right way? where are you being that 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 called enhanced interrogation techniques used by the u. s. officials were basically designed as techniques to break down the human mind.

if you force a human being, 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 station and mosul among them, wordpress positions sleep deprivation. conducing 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. and the moral authority that made america world liter sacrifice. but the shimmer of effective interrogation with

welcome back 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 out 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 biden administration's national security council sat on tuesday that it's tools to 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 last friday, joining us now discuss his kirk edwards. he's a former chairman of the permian basin petroleum association planner to have you on as always, kirk, oh, what are you seeing here?

pushing oil prices up to near 7 year highs and even at 7 year highs. hey, brad. hi, rachel, thanks for having made to me. i think it's more panic in the last week or 2 that you're seeing getting the markets. i think countries companies, airlines don't want to be cut short with having to build their coffers with more expensive crude oil or gasoline. and so you're seeing a lot of buying going on right now. as see of course, at a 7 year, 7 month. 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 cause that price that you're showing right now had 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 got made in the last 2 years in drilling for reserves and these countries because the price was so low, especially in russia when you're talking about your big coin mining, when they're making $89.00 a barrel and oil, as opposed to burning it to create electricity or coal, to do bit corn mining. good. probably gonna be making a lot more money having that all in hand. and so you're not seeing as much of that on the market to buy administration again. what they can do is embrace the american energy producer. the hit on the furthers from assets like taken office, but that's what they could do. they could work up something with the american ear. she, 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 mentioning that same point, can they at this point could bite and flip the switch? so to set 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 here that out of state. so he could start making some overtures to embrace his own domestic producers 1st before going, 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 more 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, right. so you're really, you're saying it an every product, the inflation is sitting every market that we're in, in the united states right now soon. food. it's in your 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 hitting 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 the energy process go, food, electricity cost, everything that's going up right now. and it's only going to get worse. or 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. i do see it happening. happening quicker than probably a month or 2. now. right now, any event russia jumping into ukraine, anything that goes on in this world is going to trigger their 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 is always appreciate it. thanks for having me. and finally, it looks like the met of birth is entering the world of politics. turkey's governing party held its 1st meeting in the metal berth 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 men of verse based meetings would be improved expeditiously and become an essential part of our lives. fascinating video to watch. absolutely, and i mean, i think it is never what it's hilarious that there's one guy who said no, i'm not putting the goggles on, i'm going there. but it is interesting because this is what we think of when we think of the matter verse, isn't it? yeah, absolutely and you know, you kind of think of all of those guys are sitting right there in suits. well i doubt they're wearing suits that they're logging onto their morning meeting. i think a couple of where their office or maybe they weren't in their underwear view of what's the common?

that's it for the get bo buzz odd man on the portable tv app available as smartphones. tablets do play at the apple app store by searching portable tv. we'll see you can also be downloaded on samsung, smart tv and roku devices, or simply check it out at portable tv. we'll see you next. me. ah ah, me got the book by the practitioner to coordinate the the blue sky to push it if i heard of you. but there's just somebody somebody from a few little bit 3 to what i still at the but i will give you hope. all right. some of you will be receiving

this, but i will was i you while thank you bye here for prosper pretty weaker. clear for mobile shop for documents that are denise bruise. 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 the step by step. the amazon empire has extended its group on the world that walks like end up being quite like a dog. and so amazon looks like monopoly trades like a monopoly makes money like monopoly behaves like monopoly. amazon essentially controls the market place. it's not really a market, it's a private arena, a wild 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? ah yes, yes. i didn't know where it is that will at least the typical there is only 9, but already diversity. students that away and rational a didn't go on the case. it was a new month's appointment. let's see. yep. you got the floss. there's doors to deal

with them. he did not die local to able to call with the he make them come, no recalls he with now. bush 19 and of course with them. well, you're special, but i will the yeah, i said, of course thinking what certified that was to get to him was in your mind it was something that if i use, if the w to video to was as much color as yeah, i knew it from america with soon losing credibility to do to pretty good. when you most of judge the blanca from his teacher was or school reason is bernice will come on that he could oh, the wrong one. i just don't want you to seek

out his name because the african and engagement equals the trail. when so many find themselves willing to porn, we choose to look for common ground. ah, a useful me thing and with a kind of exchange of opinions addict vertical moment. that's how the russian and u. s. foreign policy chiefs described their talks in geneva, which commonly the rising tensions, i will ukraine and nato expansion. from the slope itself to scroll through a couple of random pages, to be sure, none of the provisions stand up to any critical analysis. in many cases, it is simply alive that the news conference off to the talk saga lateral flashes out at u. s. officials on mainstream media pushing fresh unproved lines against moscow will examine those claims. this out a report claims full of.