system got a lot to get to get started and we leave the program with more data on inflation in the world. the largest economy, the core personal consumption, expenditures, price index. boy, that's a mouthful, which excludes volatile food and energy prices rose by 4.9 percent in 2021. that's the fastest pace is $983.00. now while the consumer price index, which rose by 7 percent, is more widely talked about p c. e is a major gauge used by the federal reserve to determine policy. now as prices have been rising throughout the year in a record number of people have left their jobs and what is called the greek resignation. the labor department also reported that wages for civilian workers increased by 4 percent in 2021. the most and symmetric started being tracked back in 2002, that increase in wages is still well below the rise in prices. now despite higher wages and economic expansion last year, consumer spending also felt by more than half a percent in december. after gaining the previous month,

and it's been a rough week for global market, says we are seeing a lot of red arrows on the board that concerns overriding inflation and central bank action and response. well, it's cause another downward trend. we start in russia where the mo, acts in the outlier here, it's actually up to percent for the week despite geopolitical tensions with the west over ukraine. the mo, x are gain of 7 percent on thursday to put it into positive territory. the rubel also strength and against the dollar a year on that same day. energy and financials lead the way with ross nef gas problem. hence, burbank all up more than 8 percent on thursday alone. it's moved to asian markets where the shanghai composite is down by more than 4 percent for the weak thing. steady losses throughout, as has been the case with global equities in recent weeks. settlement was weekend over action from the u. s. federal reserve plans to tie in monetary policy and uncertainty, leading into the lunar new year, the energy media and real estate sectors. all took

a hit this week and hong kong we have another red arrow for the hung down for and a half percent for the week. the hung sound followed similar trends we saw in shanghai report surface this week that chinese, the chinese government, that is to say, is looking into breaking up china ever grand group has its debt was continue ever. grand stock fell another 13 percent this week has the entire property sector took losses in japan, the new k is down by 2 percent. the losses could have been much worse. but a friday rally saw the index gain 2 percent back, but not enough to make up for the losses earlier in the week in response to the end of easy policy. from the fad here in the united states, japanese investment conglomerate, soft bank side share rise on friday after announcing its current ceo plan to leave the company and after apple and now its it's earnings had beat estimate suppliers to the tech giant rows throughout asian markets, including in japan, moving to india, it's more rad for the sense ex, falling 3 percent this week, then next is down about 7 and a half percent since october, high,

rising energy prices have taken a toll creating more inflationary pressure. there are also concerns about monetary policy in the us, the sense sex took most of its losses on tuesday. in australia, the fx is down by nearly 5 percent for the week. the assets officially entered correction territory this week after taking 4 straight days of losses along with keeping an eye on what the us central bank is doing. investors are also watching the reserve bank about julia, which is set to give insight into it's policy move just this next week, and we have another red arrow for the all share in south africa. the south african central bank actually did raise its benchmark lending rate for the 2nd straight meeting as it attempt to deal with rising inflation. $25.00 basis point increase puts rates at 4 percent the highest in 2 years. now let's go over to rachel with europe in the americas. thanks ran here. we started new k, where the foot the is down, but just slightly. the nation's latest forecast from the i m. f predicts its growth in 20. $22.00 will also be down from 5 to 4.7 percent. however,

the u. k is still expected to be the fastest growing economy in the g 7 for the 2nd year in a row, out pacing both the u. s. and germany. however, the nation continues to battle soaring, inflation and supply chain shortages. and the announcement of a 2nd interest rate hike is expected next week. nearby the german dax and the french cack are both in the red. while france saw more growth in the 4th quarter than expected germany contracting point 7 percent more than twice what was expected, sparking concerns over recession in europe. the largest economy that can bind with continued supply chain shortages and soaring energy prices have put the european commissions gauge on sentiment out. it's lowest point in 9 months across the atlantic. now to brazil where the best but is in the green up. nearly 3 percent for the week and want build like a bit of a break for the embattled economy. it's unemployment rate for more than expected. down to 11.6 percent. brazil central bank is expected to deliver

a 3rd straight 1st rate hike, $150.00 basis points next week, as it continues to battle with a recession and inflation in the double digit. but it's a different story over in mexico where the b and b is down. but the latest data shows the nation's economy actually grew in november by point 35 percent marketing its 1st growth in 4 months, mexico's exports were also up 19 percent in 2021, reaching nearly half a trillion dollars as their recovery here in the u. s. sparks the need for cars, chemicals, and other products. and now here to the united states where the dow, the nasdaq, and the s and p are all up. as we have noted throughout this week, markets have been on a roller coaster, while earning season is in full swing, the federal reserve also confirmed it plans to raise interest rates as early as march for the 1st time since 2018 and the ongoing tensions with russia and the binding ministration support for ukraine have also fueled

a good week for defense contractors with lockheed martin stock up over 5 and a half percent. while raytheon is up nearly 4 percent for the week. and finally, let's go over to canada, where the csx is in the green. inflation has soared to 30 year highs in the nation's parking warnings that it is hating low income families, the hardest. the bank of canada confirmed on wednesday that it will keep interest rates near 0 for now. but it said it has plans to begin increasing those rates in the months to comp moving into next week. we will continue to keep an eye on the state of inflation and its impact on the ongoing recovery and from inflation to inflation hedges. just days ago, we were talking about gold hitting to month high, but that's no longer the case on friday after back to back drops and gold prices to 2 week low. the federal reserve at its plans to raise interest rates have been seen as having the biggest impact on the trustworthy hedge after the weather, the storm early on in the week that sent traditional stocks on

a roller coaster. and speaking of target and bitcoin has taken quite the beating with price is falling over 22 percent in the last month. but when it comes to the argument of whether bitcoin is truly and inflation hedge, it's supporter say the focus shouldn't be on the price. but shouldn't said be on it's truly finite, supply of $21000000.00 coins and the algorithm that regulates that supply. so what can we expect to as inflation continue to store around the world for joining us now to discuss, shit, change economists and global strategist at euro pacific capital and natalie burnett, host of coin stories. it's great to have you both on the show today. natalie. let's start with you. what do you make of this argument that bitcoin is in fact, inflation hedge and that the focus should be on more than just what is the price? is that right now? yeah, well thanks so much for having me. look. i think we have to remember that in big coins entire existence, the fed has been inflating and stimulating the economy and debasing the currency. and what happened to big coin in 10 years. it's gone up 500000 percent. how about

last year? just 2021. a shorter time horizon, we printed printed printed, we saw the dpi get to 7 percent, s, m, p went up 28 percent gold fell 7 percent. and between what 70 percent. so what's the argument that it's not a hedge? you know, i think peter will agree that when you have a long term investment in mind, you can of a short time horizon. and if goal is still an inflation hedge, then bitcoin is sort of a turbo charged version. big one is going to go up 10 x while gold sort of putters around. and you know, with the bad tightening or pricing in tightening, we expected that pull back. but if the sped lucian's again, like his car, he sort of hinted today, may be marking a bottom than that will send everything going especially bitcoin. peter, what about that? because gold look to be almost bullet proof as a hit to my ties at the beginning of this week. now i know that if you're a gold hobbler, there are such a thing. i know to natalie point here. you can't really chase that price. but what do you make of those losses? we've seen over the last couple of days as we've seen concerns about what the feds

doing, as we've seen concerns about inflation as we've seen markets drop. yeah, well 1st of all, most of the gains that bitcoin enjoyed last year have been lost. in fact, people who bought the coin last year, many of them are already down 50 percent. and of course, there's 17000 other cryptic currencies that people were able to choose from, and they're all getting obliterated. and none of them have anything in common with goal. they all have something in common with each other. but big one is not a visual goal, that it's not an inflation hedge, just the speculative token and is price is going to be a function of supply demand for that token. it really has nothing to do with what the fed is doing as far as the dollar is concerned. gold is concerned rather the reason a goal this had some problems recently is because the market actually believes the fed, they believe, powell, when he says he's going to do whatever it takes to bring inflation back down to 2 percent. he's going to raise interest rates. he's going to start shrinking the balance sheet and the markets are believing power,

but i think he's just bluffing. and even if he, if he follows through with the right hit rate hikes, he's promised that's too little too late. it's not going to be nearly enough to slow down inflation. and so it's not going to restrain gold, the, the type of rate hikes that would be required and the type of barrel balance sheet reduction that the fed would have to engage it to actually get a in front of the inflation curve and bring it back down is much too high for the bubble economy to bear if, if pow actually tried to fight inflation. he would destroy the bubble economy, the stock market crash, we'd be in a massive recession, lots of unemployment, huge financial crisis. and we would force the government into insolvency. and once the markets come to terms with this reality, they're going to be buying gold. natalie, i think there was a period of time when we looked at bitcoin as digital gold. but now, you know, to, to peter's point here, a lot of this has become a speculative asset. and i think

a lot of that comes from the fact that we see so many institutional investors in there now. and what you're seeing is it moves along with the market because institutional is, are trying to cover their money back and forth. is there something to that point? natalie? well, i do agree with peter that the fed is bluffing, and they're gonna have to insert liquidity. and we've seen that big coin is largely liquidity driven, just like cookies. and it's been sucking money out of both gold and bonds. now the more money that piles and obviously the price goes up and also with futures trading does wall street have the power to push around the asset on the margin? sure, but if the secular trend is up, which it is, they can't push it around for too long. and when it comes back, it has the power to spring up really hard and really fast because the fundamentals for big point are they're the holders aren't selling, including peter, sun, spencer i, the number of addresses are going up. we have the hash rate near all time highs, despite geopolitical issues and cause it's done in russia. and, you know, i think that when liquidity resumes, because the fed realizes they cannot taper into

a slowing economy. it will send stocks going and big quinn will go even higher. now peter, i want to give you a chance to respond to that. but also when it comes to where we're seeing the interest and inflation hedges, where do you see it going and is it going back towards gold, or are people paying more attention to those other crypto currencies that are out there and going towards those? well, her of all bitcoin isn't sucking anything out of the gold market or even the bond market. the only thing bit quite is sucking is money out of the pockets of people who are foolish enough to buy it. and that would include my 19 year old son spencer, but i think right now most people are not really worried about inflation. again, they believe the fed. so they think that the inflation problem is going to be solved once they realize that it's actually going to get worse. and once the fed is ultimately forced to do an about face, because how things that he could raise rates without hurting the economy or employment. he thinks we have the strong economy, we don't, we haven't gigantic bubble. and even the smallest, the 10s is going to prick it. in fact, just talking about raising rates,

as it has already pricked the bubble, were already pretty much in a bear market now. and so i think that sometime this year, whether it happens before, the 1st rate hiker after pal is going to cave and he's going to go back to bigger q e and rates go back to 0. and that's when the markets are finally going to understand the predicament that we're in. i mean, they should understand that already. but for some reason they need a safe to drop on their head. and when that happens, then they're going to be looking for inflation hedges. they're not going to care about big coin, and that's for gamblers. they're going to look for a real store value, and they're going to be buying goal. they may be buying silver as well. and i think they're going to be buying all sorts of real assets to get rid of dollars. but real assets don't include any of these crypto currencies. i mean, there are too many of those, and they don't have any actual value to be inflation hedges. so i think with the air comes out of the stock market bubble as it is, it's coming out of the crypto bubble to got about 30 seconds. love natalie. i want

to give you the final word here. do you agree with the notion that americans are concerned about inflation right now? i think it's the number one thing that they're concerned about because wherever they go they see price is going up. 40 percent at you know they, they gas prices are going up at the grocery store, meet their houses. i rent is going up and i think they're extremely concerned and they don't own assets the way that the rich people do. right. so we've made a lot of billionaires richer through quantitative easing, and as mr. peter said, that the quantitative easing is going to have to continue. and when it does, bitcoin will go up just like it has for the last 10 years. i believe i only consume consumers are concerned. i'm talking about investors, they're the ones that are, are cool as quick consumers are very concerned and they should be right. and unfortunately it's going to get much worse for consumers or i. we're gonna have to leave the conversation right there. natalie renella, coin stories and peter schiff of euro pacific capital. thank you both for your insight and following the wave of brutal us sanctions. chinese telecom from wall

way has managed to expand its mobile footprint as other devices have begun to adopt the company's harmony operating system. now, according to reports, chinese smartphone manufacturer gianni it has a now it's the, it's g. 13 pro model will be the 1st non while way phone to use the company's proprietary o. s. b adoption marks, a high note for a while way as the current count of harmony, user is now standard more than 300000000. now, despite the, when it comes, as apple has now overtaken, while away as the hottest smartphone in the chinese market over the last quarter of 2021, claiming 23 percent of the nation share the final 3 months of the year and time. now for a quick break, but when we come back, china is looking to boost is present in the digital payment spear, but will the nation's cross border system soon take off? we'll discuss and as we go to break here, the numbers at the clothes with

a with a bring you the very latest every out the day. this is not. he's national from everyone here with join me every posted on the alex salmon. sure. i'll be speaking to guess in the world politics school business. i'm show business. i'll see you then.

mm. my math is practicing they're having a nervous breakdown, a very public nervous breakdown as they should. things are going their way with cancel down through here. all of this larry over here. so your cancer always a little nicer than this is evidence of absolute poverty, just to mayor, people in our city and other cities all across america are living like this. where at the original need and village that opened up in 2018 right now. there's 31 homes on the property. it's a little over 4 acres with 31 homes and a community center. unfortunately, a lot of people don't make it out of edition more homelessness line. i'm sure i

know that you with welcome mack, china has now seemingly thrown its strongest support behind russia over increase tensions and talks a possible war over ukraine. the spokesman for the chinese foreign ministry minute, clear, just a day ago that cooler heads need to prevail and that china wants to see a return to the mincing agreement of 2014 in 2015, adding quote, we call on all sides to say cool headed and avoid doing things that will escalate the tensions and hype up this crisis. meanwhile, china has been quietly working on its own. busy payment system to allow cross border transactions in you on as trade and investment with the rest of the world

grows, china's cross bank or cross border inter bank payment system will be a huge part of this new digital currency system. joining break all the sound is boom by co host, an crypto analyst, chris, the i and ben swan. all right, chris, the i want to start with you on this one breakdown this cross border inter bank payment system. is this trying to answer to this with the banking system? of course it is. this has been something that china has been working on for years and years because it had the threat of being cut out of this was system for years now. and it was something that the u as hell of a china in case the dispute a word to escalate and that would have been devastating for china's financial economy. so last time that this was threatened was during the trade war dispute with trump. so now the c i p s, is currently laying out the technical groundwork to prepare for the internationalization of the r m b. so as of now the average daily transaction volume is si, reach $49000000000.00 in august with $1144.00 indirect participating banks in

a $103.00 countries. so the global use of the r and b is still quite small compared to the actual size of the chinese economy, but it is growing steadily and the r and b is now had a 6 year high in terms of popularity with cross border payments. so as popularity as an international currency study, we climbed in the last decade as global funds boosted their holdings of chinese bonds to a record amount. and this is slowly eroding away at the dollar and euro domino, which saw it's 8 month market share fall. so it seemed like china has finally reached this critical mass, big enough for it to try to accomplish something like this. and if executed correctly, it could render one of the most powerful weapons the u. s. has against it, a moot point? yeah, it really does seem like china seeing the need not only for its own country, but also for other countries. now ben, i know we talked with you earlier this week about exactly this issue when it comes to russia. in fact, british prime minister boris johnson on tuesday said he was discussing banning

russia from the swift global payment system with the united states saying quote, there is no doubt that this would be a very weapon. does he have a point there? so i like to give you guys analogies when we talk about these kinds of things like i love where you today. so last year i was in rhodes greece, right, which one of the last medieval cities in the entire world is still looks like an ancient medieval city from a 1000 years ago. and when go outside the city, there are humongous boulders that were used by by catapults in order to lay siege to the city. right. a catapult was at one time a very potent weapon, very powerful, and you could knock down enormous walls and get into cities with them. the problem is, is that the catapult only remains potent, so long as nobody else advances. that's the way bores johnson is thinking about the swift system. right. it's so great. oh yes, the swift system would be a potent system against russia, poor's johnson, that ship of sale. that's over with crypto currencies. years ago already overcame

this issue. so the idea that you're going to be able to cut countries out of this with banking system is over with, right. so whether we're talking about russia or iran, or interact with each other through digital systems and what china is doing right now is to christy's point is solidifying and bringing together all of these countries to say, well, why don't we all kind of work within one system obviously the chinese want it to be their system. other countries might have a preference for it to be their own, but china is ahead of everyone else on this game. but the most important point is that whether it's bitcoin or a centralized digital currency, as in the case of the chinese swift is only powerful in the past, it is no longer powerful and it will certainly will not be powerful. moving into the future and things only fitting them, brush johnson and his medieval thing, having no idea what's going on in the rest of the world. now, christie, if we take these 2 situations together, then would it make sense that china is setting itself up to be the banker for nations like russia,

iran and venezuela all received some sort of similar treatment from the u. s. i mean, i think china setting itself up to offer a competing service and i wouldn't just isolated to say it just want to be a bank of these specific nations because the running joke with china is that it's not very good at coming up with original ideas but when to see how these, how something works, kind of will recreate it and make it cheaper and more efficient. and that's how kind of competes in the grand scheme of things. so i wouldn't be surprised at the si undercuts a swift system in a big way. and right now, it's not a great time for banks, interest rates are low and they're under threat from digital currency. so banks are going to take what efficiencies and cost cutting measures they can. and on top of that, the c i p. s is likely to be more efficient than the swift. because currently what transactions can take anywhere from $2.00 to $5.00 working days to be completed and reached a destination due to the evolvement of sometimes several intermediary banks. so already the sci fi network is expanding the window for payment processing in order

to cover european african n middle eastern time zone. so that way clients can actually settle payments in their local time rather than waiting for next a settlement, which is currently the case with slit, which is now a huge deal in boosting out efficiency. so c i, p s network has adopted iso 20022, which is the emerging global, an open standard for payment messaging. so it's literally laying out the groundwork to be completely compatible with all businesses around the world. so i don't think china is setting itself up just to be the bankers of a few countries that don't get along with the u. s. it wants to be the 2nd alternative, the competing global network actually, but it at least gives those a nation that option for sure. now been, i have about 30 seconds left of this, but we know that the u. s. has been able to keep it status as having the world reserve currency because of the petro dollar, at least in part because of it. is this opening the door to a petra you up? i don't know this necessarily opening the door for that,

but i do believe that the days of the petro dollar are severely limited. we will, i don't think the united states is going to be able to continue to hold that place . we know that even as recently as 10 years ago, there was a big push in african countries to move away from the, the dollar as the reserve currency for oil, the petro dollar. so listen, the days are limited and the only way you try to hold on to that is by going back to the same play book or innovating other countries right now, innovating the united states. not really doing that. it's sticking with the same playbook. boom, boom, ben swat and christy i like you guys bring a different playbook every day. thank you so much. and that, that for the time you can catch boom bus on demand on the portable tv app available on smartphones and tablets. google play in the apple app store by searching for apple tv, portable tv. you can also download it on samsung, smart tvs and roku devices, or simply check it out at porterville dot tv. we'll see you next time with

now the know you in this is he is a sphere. he will foster you will fall off the end and the other side of it came from and you're back home. so i would like to envision that does it also the unit of the living is just like that, you know, on the action, you have it to and from the other side, there may or may, we should all been may or may, we should all be angry because of what's going on, right, can't understand united states history and the role that slavery play is already very formal institution. at a time, united states became a nation. it actually defined the nation. the rise of capitalism is clearly on the backs of flight. and it's laid down, if you have se lynchings,

any great extent. you can't believe that really in the country. and country still's advance in brick. i'm from the south. everybody. i know. know what this thing to some extent. i would argue that we're still fighting the civil war in the south is winning derisive, james all down through here. name pauleen is the larry over here. so you're camps are always a little nicer than this. this is evidence of absolute poverty, despair, and people in our city and other cities all across america are living like this. where at the original eat and village that opened up in 2018 right now. there's 31 homes on the property. it's a little over 4 acres with 31 homes and a community center. unfortunately,

a lot of people don't make it out of edition more homelessness, and i'm just really happy. it made it. her dad, you with me in, ah, ah, ah, no incidents of havana syndrome as you mentioned before, things like difficulty concentrating, insomnia memory problems. there are so vague as to be experienced by just about everyone who has. ringback ever lived in any given week. right. and so now people all over the who are military personnel or intelligence officers or diplomats working for the american government, are now on the lookout for. lisa novel is health incidents and literally people are getting up in the morning and freezing and attributing it to a van

a syndrome because it's so bang, the chat in the nutrition john issue agenda from my hash ah let me just look on the can regrouping kelly retorted quote, and i renewed my tissue. that sounds good to me. so she gave me to your tv. i just had another, you know that i'm guessing you may hear that

i think ah, joe biden plans to position american troops in eastern europe in a show of force against russia. despite nato's chief admitting there is, quote, no certainty about whether russia would invade ukraine. useful to lose it depends on the russian federation, then there will be no war. we don't want any wars, but we will also not allow our interest to be rudely trampled on and ignored amid a growing stand off with the west, over ukrainian. russia's top diplomat stresses marco does not want conflict, but it security must be in short and health staff so you can go.