score define the facts and define as a price gap. and yeah, really being very walker about how india is going to choose to do what's to india. the best we have from a russian finance says that india and china are trying to rush increase supplies, as mostly is rebuild the approach to energy. expos must get all we do in 2021. india didn't actually receive russian oil imports, yet in 2022. the country was the largest imported by sea of russian crude oil. second only to china, bulky, china has laid in russian oil imports for many years. masses of oil, a transfer there through the siberia, pacific ocean oil pipeline. there is a branch of it that transfers 30000000 tons quite a significant number. this another route for russian oil exports by a cassock, st. on that can deliver 10000000 tons more lion's share of oil that goes through the siberia pacific ocean pipeline is loaded on tank is in transferred china. so

china has always been a leader in terms of countries buying russian oil imports. due to this oil of east side, barry origin. markets have been rebounding lately. russia stopped exporting all to europe in early december, and now goes to the asian market. media has reached the record high in its domestic oil consumption. now there old products are sold at low prices. this is because some of the russian oil that's being refined and consume was previously imported at a discount. russia also to live as ready made oil products to india. it's allowed a dia to negotiate more favourable prices from countries that sold of oil in the past. in india wasn't able to buy crude from its former supplies, and tends to buy more from russia. if moscow were to decrease their discount, india would be the major buyer of russian oil. you tried as a boy, didn't you? primarily shang, during our session of the national parliament and beijing, the shang, as a to, to the a close confident of frozen cheating thing. i'm privy,

served as a secretary of the chinese communist party in shanghai. the nomination was supposed advise eating thing, who recently made his viaz trial 1st present 3 lengthened. my follow them to 3rd consecutive term. the shang is in his new role, as for instance, went to think charge of the of the national economy. the largest in asia is to just the keys yang, spent a decade in that position and is not expected to retire. most of the problem is, i mean it's just, it has graduated, his newly appointed chinese counterpart and said that relationship in beijing m. oscar are coming stronger than ever before. she was a c d. n correspondent, jo. yeah, she says the relation between china and russia are united by common interests, including resistance against aggressive the u. s. a sanction policies to

cooperation between the 2 countries would provide a driving force for the multi polarity heading that the china russia times are not a threat to any country. and that's strategically important for the neighbors who are not actually what some would view through the lens of code were lines and they've been there been a couple of joint documents signed by the 2 sides of the past year. thanks to the leadership on both sides. and they've touched a wide array of areas with mutual interests, including trade, investment, e commerce, energy, agriculture, and education, se. and they also have the, those declarations on promoting the global stability and comprehensive strategic partnership of coordination. and i believe that 2 countries will also work on the currency shoes. given the u. s. bullying of sanctions. china is looking for allies,

i would say that's the reason why. ching on said russia and china, the bilateral ties are now at high tide, but they're not posing any threat to any country. russia, central bank says the country is cut the amount of currencies for so called on friendly countries in foreign transactions. so under 50 percent, 01 from a currency is used for russian excell deals fell from 87 to 48 percent last year. so you are now has become the mail to the foreign currency used by russia. as, as russia nash, the rule, currency accounts for 34 percent of the total. so export transactions. we heard from a russian eco, my student, dimitri alexander, of spoke about the risks associated with the us dollar on international markets. a miss olu o, please. methods of fighting against combating the decrease of the dollars global

roll off manifold from economic measures to the use of force coercive actions. naturally, it also includes direct dialogue, for instance, where the oil producing countries where the u. s. is trying to persuade them to spend the additional revenues on us treasury bonds and is not limited to oil producing countries. in essence, us trade to policy bows down to making all the countries that have surplus trade accounts with the us to spend their part of the surplus on new us treasury bonds. this way they can buy goods from those countries simply by printing more dollars in service, their trade balance deficit. but it also results in a bigger trade balance deficit. as the economy grows, this raises alarms at this quasi pawns ice game can't last forever. well, i ramped up that very busy news out. i got auntie though. com. lots of interesting . so as i will be back now that some of the out we hope to see them

everybody. i'm rick sanchez. you know, i've been doing news for some 30 years and 2 different languages all over the world . and obviously here the united states and i've interviewed for you us presidents mikhail gorbachev and fidel castro and started afford $1000000000.00 business. so i have learned from all of those experience that if nothing else, we need to be honest, news should be honest, it should be direct, it should be impactful. this show we do it and it's called direct impact. ah, i want to start with this. there's something that to few people are talking about in the establishment elite. in fact, what they are talking about is the complete opposite of what they should be talking

about. yeah, i'm talking crypto because it seems the whole world continues to talk crypto. so what they say is that this fell a sam bank, min fried is an example of something that was caused by the crypto currency revolution, right? they say the whole block chain, crypto movement now has to be changed. it has to be regulated has to be controlled they c, crypto needs to operate more in line with how, for example, banks operate and other equity in financial institutions operate. and by the way, to all 3 of those assertions, most if not many or many, if not most in the non establishment community would say no, no, and held though. are they right? are they right? let's look at this. by examining sam, bank men freed himself or as his buddies in the media establishment and in politics . mostly democrats, by the way, call him s b f. s b a. for the record. i'm going to share something with you

personal here. now, when, when someone has been found to have committed despicable acts, my rule is simple. you don't call that guy by his initials, you know, just like i would never call james or a rental james simpson. oh j. i don't think it's good idea to call this guy sam, bank mon fried s p f. seems almost unbecoming like were pals or something, right? which, by the way, to a certain extent, there's some truth to that. it was a policy while you go on a situation going on between s b, f, the media, certain pull, politicians. what, what i will call him, by the way, is someone who appears to have stolen the life savings of his depositors by investing it without their permission. right? not, not. hello. you've got to tell them if you're going to do this, he didn't mean, why was he depositing it in the 1st place?

asked a great question that we're going to try and figure out as we talk to people who, who say they were actually swindled by him. by now you probably have already heard of bank been freed, but in case you don't know his story, let me just give you a little bit of a primer. okay. we'll try it now. put some pictures up so you can see what we're talking about, which are in and of themselves. somewhat ot beckman fried is a 30 year old founder of f t x, as well as the crypto trading firm, alameda research that's important. f t x collapses. and then it's revealed that its value was. busy but gone, and much of it had been pumped into alameda research, even though the clients who bought f t x had no idea that alameda was even in play in this case. so what they believe in f t x? well, that's interesting too. famous celebrities vouch for it. i mean,

they went on television, they did television, commercial sports teams, used f t x on their stadiums. the arena's like the one that the miami heat was playing and the company has now filed for bankruptcy, has f t x. but in the process of building the company that most call a scam bank, min fried, made 26. some argue as much as $36000000000.00 that a report seemed to indicate that bagman freed has no. busy materiel, but before his wealth disappeared, bank been freed was a major donor to us politicians with a special emphasis, by the way on president button and the democratic party for what it's worth. fact, he was the 2nd largest individual donor to president biden's campaign itself. personally, donating $5200000.00 on top of the other $40000000.00 he donated to other democratic candidates during the mentors freight who was now under serious legal

hot water has been doing a series of interviews without even his attorney present. interesting, interestingly enough and looking much like he did in the past. what were the shult a lot of people look at you and see for he made off. yeah. i mean, i don't think that's who i am. i know at all, but i understand why they're saying that people lost money and people lost a lot of money. and i mean, at the end of the day, well, there's a question of what happened and why, and who did what? on what caused the meltdown. and i think that is reads very differently, right? when you, when you look the classic bernie made off story, there is no real business there. the whole thing, i, as i understand it, i think was, was just $11.00 big ponzi scheme rate at yes. that was a real business. joining us now to talk about this is our president

and co founder of approaching capital. aah! david towel. thanks david. for, for joining us. man, there's so much to talk about. first of all what, what, what do you make of the sky? ah, sam beckman freed or as his buddies in the media column s b us? ah, it's if there was a hearing, i'll start with this. there was a hearing the other day in front of the house financial services committee by the chief restructuring officer for f t. x. was the witness at that hearing. and he just said it was plain old embezzlement. good old fashion, embezzlement. and that's really what it was. you know, the, the structure is, i think, not so important. what is important is the fact that the entity within which depositors customers investors were putting their money was entirely ok.

there was no production of documentation. there was no updated financial statement sent out, there was no audit. and so therefore, there was nothing that the customers or the investors or the depositors could go on except for the word of san banks and free. and so, you know, like a snowball. there were a lot of prominent folks and institutions back this and so therefore on the basis of the prominence of those as these and institutions, lots of other folks followed in. i hear what you're saying. here's, here's what i think happens in cases like this with, with, with bank been freed, it seems to me, and most of the people who are much more into crypto than i will tell me what fascinates them about crypto the the reason for being in crypto is because they want to separate themselves from lending institutions, banking institutions,

hell establishment institutions in general. and they also don't want to feel like they're tied to the government who could at any time know exactly what they're doing and know how much money they have and what they're doing. and, you know, let's face it, some people are doing this because, you know, they, they'd like to pay fewer taxes and that's a part of the game as well. so essentially what bank my friend was doing was the opposite of that. i mean, he had an exchange, right, an exchange that in essence was acting like a bank and he took people's money deposits and, and then spent it without them knowing that he was doing so. in fact, what he did was worse than what a bank does. ok, so let's, let's back up a little bit and unpack it a little bit further. ok, so the exchange was actually a place where investors could go ahead and invest in futures contracts ok on the basis of crypto currencies. so f

b x was for facilitating investments on both sides of trades for futures values, encrypt current is very script the currency for bitcoin all the way to the more, you know, call it dodgy ones and don't quite ok. and so in order to go ahead and back those futures investments, you would have to go ahead and put up collateral ok, you'd have to put up either cash or you'd have to put up the actual crypto currencies. and so that's what people would go ahead and do so. so let's pause and say that f p x was not just a custodian. it wasn't a place where you parked your quick though, although you did that as a function of investing, what the primary region you would go ahead and. ready involved with f t x is because you want to use f t x services in order to be able to go ahead and invest. now. the s t t coin is actually, it makes

a lot of sense. it's according that represents access to the f t x platform. and so therefore, the more fcc core you own, the cheaper the services that you're going to pay for. or i'm sorry, the cheaper price you're going to pay for the services on the f t x platform in order to go ahead and trade. now, here's where it gets back. what happened was alameda, which is also owned by sam bank and fried which is a hedge fund or an investor on the s t x platform had no constraints around what it could do. and frankly, what type of collateral role or posting requirements it had with respect to which investment. so if you are, i were trading on f t x and we added a trade that was particularly bad. the exchange would immediately liquidate

whatever it is that we had on the exchange in order to satisfy the call on the value that we had. loss. ok, so would have put s t x in jeopardy. however, alameda, which was the largest counter party to f, t x had no such constraints. alameda put on a lot of bad trades, lost a lot of money. and in turn caused f p x to lose a lot of money. and that's where everything broke down. now also you had mentioned this, but let me highlighted, alameda to alameda actually took money out of or value directly out of f t x and put it into its own fund. right? that's straight upset, right? you put it here. you put my bank on the take it home and you know, buy, buy a car with it that you can to do. here's the thing that concerns me and i don't know how you feel about this,

but it would seem to me that what he has done is almost opened a path for all those people who've been and de crypto empty block chain forever to now come in and say how see, because of what that guy did. now we're going to go in and we're going to control these things and we're going to overregulated, etc. is that a concern? do you have that concern? oh, sure. i mean, a blow up like this goes ahead and emboldened the naysayers. you know, that were hanging around and, you know, when the coin was at 60000, you didn't hear those voices so loudly. but now, you know, after all this and bitcoin is now 16000, you know, certainly that chorus is quite loud. but you know, there is a much more, you know, philosophical and existential conversation to have year. which is crypto currency is really supposed to be

a decentralizing function. it's supposed to take things out of the hands of humans and put it into the hands of immutable ledgers that are total transparency you know, and every, nobody can. busy go ahead and crack, and by the way, no codes and no block change have been cracked through all this. this is all been, you know, the undoing of the units. thanks so much david. stay right there though, because i want to come back to you. i want to continue this conversation by the way, i have a podcast to share with you where i as a journalist, as a latino and as a co founder of this company that i've told you about share a lot of the things that i've learned mostly from all my screw ups and some of my successes that's about growth. it's called the rick sanchez podcast. i invite you to check it out and i'll see you there, but when we come back, let's stay with free. let's talk about sam bagman freed. the best thing is he, the best thing that's ever happened to the enemies of crypto currency, and is it possible that they're going to end up with the outcome?

they always want to say that the the march, the 112011, the largest earthquake ever recorded in japan is registered. a 14 meter tsunami devastates the fukushima di each and nuclear power plant. a back up with the nuclear. ian does have flooded, sparking and horrific disaster with i old political believe actually be of an italian jonah is living in japan,

decided to go to the area of the nuclear meltdown in fukushima immediately about the photo there. sure, a lot of us that either georgia tech oversight, i'd love to talk to somebody about the with the 4 year investigation starts watch on r t o is the aggressor today. i'm authorizing the additional strong sanctions today. russia is the country with the most sanctions imposed against it. a number that's constantly growing. i figure which of the probably list of course sure, as we speak on believe senior mostly mind or will ship. we're branding all in ports

of russian. oil and gas news. i suffering of high praise happening. i know they plenty of those with info literature were given regarding joe biden imposing the sanctions on russia. jo has destroyed the american economy, so there's your boomerang self. ah, i pay water back. i'm rick sanchez. so here's the thing about this whole ugly scenario with sam, bagman fried it may end up causing legitimate crypto establishments to pay for what he apparently did. remember crypto supposed to be a movement away from government and big, big bank control. as we mentioned,

the essence of crypto is to create a system where people can move trade and even use their currency without the government being able to keep tabs on taxing it unnecessarily or telling you what you can do or what you can't do with your own assets, but if you take even a casual look at what sam bank mon fried was doing, you'll see that it was not in line with any of that. in fact, he was in fact acting as, as a bank, right? except is, was worse because he was in essence exploiting the deposits of his clients. it now seems plain there's something else about crypto currency in its raw form that we all need to recognize, especially as americans it is probably not good for the u. s. dollar. our banks and our governments want nothing more than for all countries in financial institutions . wouldn't you write to use the dollar exclusively as they so long have would the

crypto movement and more to the point, the block chain movement somehow change that order. so you know what, it makes me wonder and let me, let me bring you back in to this. if i can, david, it makes me want her, pardon me for being conspiratorial whether may be well, let me 1st put it this way. do you believe that san bagman fried will be or what he did will be the best thing that could have happened to all of these people who want to do away with crypto and, and blushing. correct. and i think to be honest with you, when it comes to exchange is going forward. i think we're out of point in the development of crypto, where the hardware needs to catch up with the software. what i mean by that is, people don't like this idea of i have to remember, you know,

a crazy set of words. you know, or keep my big coin or crick though safe on a thumb drive. and if i lose it, i lose all my money forever. they don't like that concept and they want to give it over to somebody else that they think is more trustworthy. that the hardware community is now going to come up with hardware solutions, which are going to allow you with comfort to keep your assets. so you don't have to hand it over to an exchange to hold. and there will be ways where whether it be retina scans or thumbprints or i don't know what that are going to go ahead and make sure that you can keep your valuable crypto. busy to yourself, without entrusting it to another human and allow for this crypto currency revolution to move forward. now let me ask you the next one, and here's where i'm going to get a little conspiratorial. given that he was so tied to the media and we know that

the media has interlocking connections with lot of big financial institutions. given that he was associated with a lot of politicians, in this case a democratic party. do you think it's beyond the realm of possibilities that somehow there was some kind of collusion here that may be someone somewhere. busy thought of this plan, i know we'll get this guy to go in there and screw with a lot of people's funds and assets and out crypto exchange. and that way forever more people will be afraid of crypto exchanges and therefore out with the crypto exchange back to the dollar. what do you think? when someone's giving you money, you don't usually last to many questions. but the other thing is it adds with all schemes like this, you know, as the money is coming in, you can easily go ahead and sleep a lot of things on the road. right?

you can kind of, you know, kind of plaster over a bunch of holes that exist in the system and, and let me make a very important point, which is there is clearly a failure here in terms of legality and regulation. ok. i don't care who individually gets pointed a finger at but collectively our lawmakers in congress, our regulators throughout the various regulatory agencies such as the fcc, the c, f, t c, the department of treasury and so forth. those folks collectively need to go ahead and take responsibility for some of this because 1st of all, we know, by the way, i mean, it's been reported that sam bagley fried was a big donator to a lot of politicians. right. who were helping him and his crusade to go ahead and enshrine f t x as the greatest or the most important largest exchange and

blessed by the us government. and so a, they took money from in but be they did nothing, nothing, not the lawmakers, not the regulators to make sure that there needed to be transparency and then use the proper notice and updating to investors to deposit or the customers. and unfortunately this would have been undone a lot. ready earlier on in the process, if they had to do those things and they did it. that's great stuff, david, thank you so much, president. i'm co founder of pro chain capital david pal, thanks so much for being with with us david. so i want to share with you what we try and do here. our mission. our goal is to try and de silo the world because troops don't live in little me boxes. everywhere. i'm a chance i'll be looking for you again right here. where i hope to provide directive

a ah lou and if you need to come to russian state will never be tight as on the northland scheme with will ban in the european union. the kremlin community up machine, the state on russia today, and split the sport that even our video agency, roughly all band to on youtube with

dr. regional rivalry on saudi arabia agreed to resume diplomatic relations and reopen their embassy in the mood broken by china. the enormous deal in vacation the earth experiences its biggest bank collapse since the 2008 financial crisis. the california base to silicon valley bank is shut down by federal regulators. south africa struggles with water shortages due to uneven distribution. i'm dwindling that reservoir level as a country already.