let's get started and we leave the program with more data on inflation in the world's 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 in 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 and 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 over rising inflation and central bank action and response. well, it's cause another downward trend. we start in russia where the mo, acts in the wire 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 and euro, 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 week things 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 plants to tight and 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 hong kong,

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 as 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 saw it share rise on friday after announcing its current theo plans to leave the company after apple and now its 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 centex falling 3 percent this week, the index 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 to send sex, took most of its losses on tuesday. in australia, the s x 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 moves 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 put rates at 4 percent the highest in 2 years. now let's go over to rachel with europe in the americas. thanks, brent. here we started new pay where the for 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, outpacing 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 of a recession in europe, the largest economy that can bind with continued supply chain shortages and soaring energy prices have put the european commission gauge on sentiment out, it's lowest point in 9 months across the atlantic. now to brazil, where the best buy 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 height of $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 marking its 1st growth in 4 months. mexico, the exports were also up 19 percent in 2021 reaching nearly half a trillion dollars as their recovery here in the u. s. spark the need for cars, chemicals, and other products. and now here to the united states where the tao, the nasdaq, and the s n 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 merely 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 hitting low income families, the hardest, the bank of canada confirmed on wednesday that it will keep interest rates in your 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 drop that goal 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 it, whether 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

was 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 fine. my supply of 21000000 coins and the algorithm that regulates that supply. so what can we expect as inflation continues to store around the world? well, joining us now to discuss shift change, economists and global strategist at euro pacific capital and natalie bernard, 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 in inflation hedge and that the focus should be on more than just what its price is right now? yeah, i don't think 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's 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 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 and 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 pulled back. but if the sped lucian's again, like his car, he sort of hinted today may be marking a bottom than that. we'll 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 the goal. they all have something in common with each other. but big one is not a visual goal that it's not a deflation, has 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 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 that is there something to that point? natalie? why do you 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 coin are they're, the holders aren't selling, including peter sun spans turn. i. the number of addresses are going up. we have the hash rate near all time highs, despite geopolitical issues and cause it's down 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 in inflation hedges, where do you see it going in isn't going back towards the gold, or are people paying more attention to those other crypto currencies that are out there and going towards those. but 1st of all, big coin isn't sucking anything out of the gold market or even the bond market. the only thing bitcoin 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 of 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 power thinks that he could raise rates without hurting the economy or employment. he thinks we have the strong economy, we don't, we have a gigantic bubble. and even the smallest of pins is going to pricken. in fact, just talking about raising rates as it has already tricked 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 hike or after pal is going to cave and he's gonna 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, you know, for gamblers, they're going to look for a real store value, and they're going to be buying gold. 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 had just 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. where 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, the gas prices are going up at the grocery store, meet their houses, 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. peters says that the quantitative easing is going to have to continue. and when it does, because it will go up just like it has for the last 10 years. abilene, i think, and consumers are concerned, i'm talking about investor, they're the ones that are cool is what consumers are very concerned and they should be right. and unfortunately, it's going to get much worse for consumers. we're going to believe 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 smart phone 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 his presence 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 are the numbers at the clothes with

mm. mm hm. bring you the very latest every out the day. this is awesome. now snow from everyone had with us there may may, we should all be mayor. may we should all be angry and was going. all right,

i can't understand united states history and the role that slavery place is already a very formal institution. by the time united states became a nation, it actually define the nation. the rise of capitalism is clearly on the backs of slate and the slave data. if you had investigated lynching sent a great extent, you can't believe that really hit the country. and because we still dance in brick, i'm from the south. everybody know, know what this failure to some extent. i would argue that we're still fighting the civil war. and the south is winning with those incidents of havana syndrome, as you mentioned before, things like difficulty concentrating, insomnia memory problems there. so would be asked to be experienced by just about

everyone who was ever lived in any given week. right. and so now people all over the world who are military personnel, or intelligence officers or diplomats working for the american government, are now on the lookout for these anomalous help incidents. and literally people are getting up in the morning and squeezing and attributing it to a central amy, because it's so bag with people. and there is a chance all down there here, polymers the larry over here. so your camps are always a little nicer than this is evidence of absolute poverty, despair. people in our city and other cities all across america are living like

this. where at the original deed 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 homeless. my. i'm really happy for you with me in awe. i the welcome back. china has now seemingly thrown its strongest support behind russia over increase tensions and talks of a possible war over ukraine. the spokesman for the chinese foreign ministry made it clear just a day ago. the cooler need to prevail and that china wants to see your return to

the men's agreement of 20142015, 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 are as trade and investment with the rest of the world grows. china cross bank or cross border inter bank payment system will be a huge part of this new digital currency system. joining with data break all the sound is boom by the co host, an crypto analysts, chris, the i and ben swan. all right, chris, the i want to start with you on this one breakdown this cross border inner bank payment system is this, china is the answer to the swift banking system. of course it is something that china has going 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. s. held over

china in case the dispute a word to escalate, and that would have been devastating for china's financial economy. the 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, the chinese economy, but it is growing steadily and the r and b is now hit a 6 year high in terms of popularity with cross border payments. so as popularity as an international currency steady, 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 domains, 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 been, 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 oliver 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 you go outside the city, there's humongous boulders that were you 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, pores 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 venezuela or north korea or china, those countries all have the ability to interact with each other through digital systems. and what china's 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 now be powerful, moving into the future and seems only fitting than brush johnson in 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 sees how something works, china will recreate it and make it cheaper and more efficient. and that trying to compete in the grand scheme of things. so i wouldn't be surprised at the si, undercuts of 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 to 5 working days to be completed. and we should destination due to the evolvement of sometimes several intermediary banks. so already the c i. p s 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 has network has adopted iso 20022, which is the emerging global and 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 at least gives those a nation that option for sure. now, bad, i have about 30 seconds left for 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 a reserve currency for oil, the petro dollar. so listen, the days are limited and the only way you try to hold onto that is by going back to the same play book or innovating other countries right now, innovating the united states. not really doing that, sticking with the same playbook boom bus, van suad and christy, i like that you guys bring a different playbook every day. thank you so much. and that's it for the time. you

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ah ah, bring you the very latest every out the day. this is all now snow from everyone here at home with the i about correcting. they're having a nervous breakdown,

a very public nervous breakdown as they should. things are not going their way. a geography, nick, we should go. but john the me a job boshoway shakeelah. hi sharon, my name is rob lee with me. right? yeah. it's like over the summer, moody with wholesale and kelly recruiting court and i renewed my for my 2 year sure . that thousands of london keep to i learned that in for she gave us and i must be happy. i can. i'm of fact, not only, not that i'm with you next year, protection for him on with

ah, president biden plans to position us troops in eastern europe and to show a force against russia. despite nato's chief admitting, there is no certainty about whether moscow would invade ukraine. meanwhile, germany swimming against the ne, so tide by resisting sending arms to ukraine. i move to scott the backing of the german public. according to recent polls. against the fundamental human rights of bodily autonomy, with british national health service stops to the government as tens of thousands could potentially faced the sack. if they don't get the coven job by next week, we get the latest from one of the doctors behind the door.