said that in the policy of the iranian government to travel or reacted to the issue or stability in the region agreement was broker by china. it's a very major step by our seizure and paying our who has just started his 3rd term as a chinese president. starting with this good news and trying to build trust between the 2 arch rivals. the long term are tribal step one embryo. this is a major step towards china's ok. stronger role individual needs to show that china is interested in the middle east politics and in the regions our economy proven kasha, gray sh. the improvement of the relationship of both sides has paved the way for peace and stability. in the middle east, it has also set an example for resolving conflicts and disputes between countries through dialogue and negotiations. china supports countries in the middle east to adhere to strategical, autonomy, strength,

and unity and cooperation. get rid of external influence and truly have in their hands of the future and destiny of the middle east, or when it comes to the united states. united states on the outside seems to be interested in the agreement between bring all men to rob united states said that it welcomes any effort to de escalate the region. the american president, our joe biden said that he welcomes any effort to help put an end to the game, and he wore to the solar war. yes, yes, but when it comes to israel, israel is, ah, seems to be alarmed by the green man or the officials. israel has said that this agreement will deal at the field low to any effort to try to isolate iran and to try to build a coalition against check raw. china is now interested in bring getting different

voices in different forces together in the eastern bloc. he tried to unify different force and different players in the region. i guess the western union battles and she got russia shock give ron, now he wants our tribes saudi arabia, his job on the bandwagon. and his client, you are for this unified alliance against future saudi arabia, saying it would add strength to their country and standing up against foreign actors, the meddling and the region slave panama. it is better if we have friendly ties with our neighbors, considering that the u. s and other western countries enthusiastically desire to have their own military bases in iran, neighboring countries in order to have dominance on the run politically. and a friendly ties are constructed between iran and its neighboring countries. the us will not achieve its objective in got a this signs agreement can have a positive point and that can be indicated by halting the war in yemen. is roy,

israel is upset about the unification of islamic countries and cannot tolerate it. israel is certainly trying to disrupt this. that's her out for this hour and coming up host, rick sanchez examines the colossal collapse of f t x 11 of the largest crypto currency exchanges in the world next on direct impact. stay close. ah, ah ah ah everybody, i'm rick sanchez. you know,

i've been doing news for some 30 years in 2 different languages all over the world . and obviously here in the united states and i've interviewed for 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 fella, sam, bank mon 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 to, has to be regulated, has to be controlled. they see crypto needs to operate more in line with how, for example, banks operate and other equity and 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, on the right. are they right? let's look at this. by examining sam bank men freed himself for as his buddies in the media establishment and politics. mostly democrats, by the way, call him s b f. s b a for the record. i'm gonna 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 o j. i don't think it's a good idea to call this guy sam, bagman fried, asked b. f. seems almost unbecoming like were pals or something, right? which by the way, to a certain extent, there are some truth to that. it was a palsy whiles ago, a situation going on between s b, f, the media, certain thought 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? that's a great question that we're going to try and figure out as we talked 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. ok will try and 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, to 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 was 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 motors, $36000000000.00 read 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 midterms. free who was now under serious legal hot water, has been doing a series of interviews without even his attorney present. interesting it, 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 an i 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 read very differently, right? when, when you looked 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 big ponzi scheme rate f t x. that was a real business. joining us now to talk about this is our president and co founder of approaching capital. aah! david. tell. 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 for you to read 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 opaque. 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, and so therefore on the basis of the prominence of those entities 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 i added 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 at money deposits 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 d x was for facilitating investments on both sides of trades for futures, values, encrypted currency, very script, the currency for bitcoin all the way to the more you know, 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 crypt currencies. and so that's what people would go ahead and do so. so let's pause and say that s p s 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. but the primary reason you would go ahead and be 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 are 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. now here's where it gets back. what happened was alameda,

which is also owned by sand 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 f 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 terms

a lot of money. and that's where everything broke down. now also you had mentioned this, but let me highlight it. alameda took alameda actually took money out of or value directly out of f t x and put it in, put it here. you put my bank on the take it home and you know, buy, buy a car with it that you can do. here's the thing that concerns me and opened a path for all those people who've been and the crypto empty block chain forever. to now clear those voices so loudly, but nan bitcoin is now $16000.00. you know, certainly that course, you know, it's quite loud. but, you know, there is a much more essential conversation to have here, which is crypto currency is really supposed to be a decentralizing function. it's supposed to take things out of the hands of the humans and put it in to the hands of immutable ledgers that are total transparency

. you know, and ever nobody can go ahead and crack. and by the way, go codes and no block change. i've been cracked through all this. this is all been, you know, the undoing of the unit. thanks so much david. stay right there though, cuz 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 the fan 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 finish?

ah, ah. in 1834 france invaded algeria, and straight away the french started inhabiting it to strengthen their position. the colonists known as p a. no ours took the best land from day one. the local population was put into an unequal position and was brutally exploited. these gauze mass discontent, the people of algeria began their long term fight for independence. in 1954, the banner of freedom was raised by the national liberation front. a guerrilla war against the occupants broke out. the french tried to suppress to rebellion using

cruel measures. full villages were wiped out packs of torture and executions of civil people, including pregnant women, children and old people took place more than 2000000 people were put to concentration camps. however, these punitive measures didn't help the algerian patriots managed to induce france this dart these negotiations. in 1962 evian records were signed, voting algeria on the bat towards independence. but this was achieved at a colossal price. algeria by rights is considered to be a country of martyrs. according to the calculations of historians, the french colonists are responsible for the deaths of one and a half 1000000 algerians who memory loss is unusual forgetfulness.

a forum of memory loss is inability to recall, past events, a can be general or concern, some specific events solely. in some cases, the memory loss can extend back decades. mm. start an intensive course of memory recovery on our t. mm hm. okay, welcome back. i'm rick sanchez. so here's the thing about this whole ugly scenario with sam bagman free. 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 it would take even a casual look at what sam bagman freed 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 his was worse because he was an essence exploiting the deposit of his clients. it now seems plain. there's something else about crypto currency in it's raw form that we all need to recognise, 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? right 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. now let me, let me bring you back into this. if i can, david, it makes me want her. pardon me for being conspiratorial weather may be. well, let me 1st put it this way. do you believe that sand 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 blood check? 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 a crazy set of words, you know, or keep my big coin or crypto 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 collusion here. that may be someone's somewhere thought of this plan. i know we'll get this guy to go in there and screw with a lot of people 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 too many questions. but the other thing is, you know,

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 air who individually gets pointed a finger at, but collectively our lawmakers and congress our regulators throughout the various regulatory agencies such as the fcc, the c, f, t c, the department of treasury and so forth. they'll 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 you know,

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 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 ne boxes everywhere. i'm a chance i'll be looking for you again right here. where i hope to provide director

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a mouse in the computer which is obviously due to a computer for someone to do it. no. but who did a to go with national anthem a prescriptive copy from. wanted to feel good as the boys are new to me with us. thanks. have a 2008 financial crisis with calls for immediate government intervention also

ahead fragments to help the shell went right through the car right here. and right through this seed, as you can see, the blood is still there. a father and thought are killed and done. yeah, because civilian infrastructure again comes under use. brainy and shelly. anger boils in the u. k as a b b b.