so the bank of international settlements head and everyone associated with the bank of international settlements must be gobbled up by the big black hole . and also in $21000.00 you're seeing more and more of these headlines all over the place about the enormous amount of electricity that because we need is and appealing to millennial that don't use bitcoin it will destroy the planet even if the corn for example did consume too much energy which it doesn't there are services there all are very good arguments for because as a force for good in energy for example is extremely good for renewable energy why because renewable energies are for the most part intermittent so you don't decide when it's sunny you don't decide when it's windy and if you don't don't don't don't when it rains for hydro electricity for example so you're producing energy while there is no consumption so what you have to do you have to store it we have to transport it very far this is very expensive and you news editor city as you transport it so it makes renewable energies more difficult to manage because you have

remember bitcoin is a system of social justice disguised as a get rich quick scheme and so the bank of international settlement is the queen of get rich quick schemes it enables the central banks to print money without any collateral to their member banks who then use it to buy the dick leon is $450000000.00 but it never trickles down to the actual wage earners that make the economy work so the bank of international settlements head and everyone associated with a bank of international settlements must be gobbled up by the big black hole. and also in $21000.00 you're seeing more and more of these headlines all over the place about an enormous amount of electricity that because we need is and appealing to millennial that don't use bitcoin it will destroy the planet even if for example did consume too much energy which it doesn't there are services there all are very good arguments for because as a force for good in energy for example is extremely good for renewable energy why because renewable energies are for the most part intermittent so you don't decide when it's sunny you don't decide when it's wi

of the central banking fee system and their member banks well j.p. morgan is the number one member bank of that. system and who is the central bankers central bank and that's the bank of international settlements so now that they see their members and their permission to network starting to break off and see the glory of big oil now they're starting to really basket big quince proof of work algorithm needs replacing argues b i s study the proof of work p.o.w. algorithm used by because in some other crypto currencies is not viable in the long term they said it needs to be replaced argues a new study from the bank of international settlements because it is vulnerable to double spending or a 51 percent attack and also that the system stops awarding big coin as block rewards to minors and then why.

bank of international sentiments, at the end of 1999, it was 134%. eight years later it's -- pardon me. eight years later it's 142%. it's gone up 8% points. that's the beginning of the financial crisis. in the period from the end of 2008 to 2018, it goes up. again, this is not my data or somebody who hates china. it's bank of international sentiments. that's the worst period equivalent period for the united states since 1952 when data starts is plus 65. and i completely agree with the opening remarks. we waste money and borrow money. we're going to regret borrowing in the future. we've done it for years. the worst is plus 65. china's most recent worst is 109, and we're much richer than that. official disposable income in china, official income is one ninth of the u.s. level. it is too early in the development of process for china for growth to be this slow. and for debt to be this high. you want to know the state of the chinese economy, that's the state. it's not anywhere close to being a rich country. it's become indebted in the last nine, ten years

constant over there at the bank of international settlement the 2 targets and constitute an karsten karsten out just right in carswell gust in carson to town of august he's been affected by the bitcoin protocol droning mechanism and so as mark zuckerberg and so as drone powell so this is all about getting because 200000 through the disease or the virus because of protocol i mean we only have 30 or 40 seconds left here so i want to say you know with regards to facebook coiners box or whatever they're calling it libra. you know the fact that france the central bank there and the u.s. is calling for congressional testimony and in the u.s. and france is investigating this it's a little bit too a it's amazing that they've missed all of this stuff. happening while they've been focused on the sideline call of bad jackson waters will become like try gray and lose her bearings she gets big. right she'll get because. you want to congress well that if you're if you're not of pure spirit and you look at the protocol like medusa you go mad if you're on dress on some up us you become a noble you become a

right to the very top what he had was something that you never see as a journalist swiss bank records of international corporate payments going all over the world he showed me how be a set of a whole system with lloyds bank under which they channeled secret payments into a british virgin islands offshore company called red diamond from red diamond the money went into this guy swiss bank account and he then used it to distribute to the local politicians taking a big chunk of himself of course you know i can assure you we do we believe those companies alter the business of late payments as you suggest a lot of sums up what they do employees of governments but it is just part of the way business is done. we were actually able to publish what was the most dangerous story that prince bandar had been given not just the plane but over the years a total of 1000000000 pounds we did not invent. corruption i mean i mean he would have been and they had hanky panky and they had to go down to edit so i mean this is this is what made sure i show you true friends of state run and a friend. what is greed. of course no

not of that magnitude but it can be that straw which could break the camel's back if it really came down to it and very unstable. a state owned chinese bank the bank of communications international says the wine is going to fall below 7 to the dollar within 3 months what would the effect of the fall be and how significant is it that a state of wine and city is is making this prediction it's it's it's it's it's it's fairly important that and consequential that a state alone entity is saying so and i would say that the chinese people's bank governor has sent signals in this direction but what the the point of the chinese are central bank of the monetary authorities are trying to get across is that we are not going to defend an artificial currency value we want stability and we will manage the value of the one and even as the one falls so be it but we don't want it to be very volatile and this certainly don't want 7 to be a number which speculators can attack and so that's the impression they're giving that yes it could fall but we've all we will manage it and it's not that we're looking for great great depreciation in its value. and on currency issues the treasury secretary of the

goes right to the very top what he had was something that you never see as a gem of this swiss bank records of international cover payments going all over the world he showed me how be a set of a whole system with lloyds bank under which they channeled secret payments into a british virgin islands offshore company called red diamond from red diamond the money went into this guy swiss bank account and he then used it to distribute to the local politicians taking a big chunk of himself of course you know i can assure you that we don't we and i believe most companies all to the business of labor's policy as you suggest above sums up what they do employees of government it is just the way the business is done. we were actually able to publish what was the most dangerous story the prince bandar had been given not just the plane but over the years a total of 1000000000 pounds we did not invent. corruption i mean i mean he would have been and they had hanky panky and they had to go down to ed so i mean this is this is what made sure i show you true friends of state run and a friend. how does greed. of course none

separate customs entity and operated under a free trade regime so it could retain the status of international banking center so on call became an important gateway to china for western multinationals but following the recent unrest over the extradition law international corporations with offices in hong kong fear that china's going back on the $184.00 agreement and that rule of law one of the cornerstones of any market economy will be eroded. to discuss that with me in the studio resident china expert clifford conan and from singapore we're joined by and hitting our. financial correspondent andrea was start with you. what are you hearing there are bankers really clearing their desks and packing their bags. well the picture is showing signs of cracking although there based on not peg just yet. this is moving their money out of auto hong kong you know is going to be giving banks something to worry about because it's home to it $1.00 trillion dollar wealth management industry now as a 2018 hole call is home to many billionaires is the 2nd highest number of billionaires in the will 2nd only to new york a

of our exclusive interview coming up later today with people's bank of china governor, his first internationalerview since becoming governor. it comes ahead of his expected meeting with treasury secretary mnuchin at the g20. this is bloomberg. s is bloomberg. shery ahn in new york. paul: you are watching give a crush on you. let's get a look at the business flash on lines. on the hunt for acquisitions abroad. the president of the company is looking to buy banks and assets that generate stable returns. biggestif japan's lender can keep hitting income targets. they will have almost $15 billion available for share buybacks over the next four years. shery: beyond meat has given investors a first look inside the company since last month's ipo. the shareholders find the numbers appetizing. willforecast that sales exceed $210 million, topping analyst expectations. beyond meat expects to break -- while the market has projected a loss. silvio berlusconi's latest evaluating options in spain. the largest commercial broadcaster may combine the unit with the parent company as it seeks ways to bulk up the f

that's really what it is the bank of international settlements defined this as three years what exactly company, and it's basically companies where the profitability is so low, just the interest payments they are able to make good on. >> by the way, guys, bloomberg headline here that xi has agreed to meet with the president this is quoting chinese state media. we now have that from both sides purchase confirmation at session highs. >> that's important for what you asked earlier, which is the idea that the economy was going to slow was baked in, i want to say, late last year, maybe even earlier than that. everybody expected that. it's the trade and tariff that turned garden variety slowdown into something more worrisome. now you have to ask yourself, put yourself in the shoes of a fed policymaker. what do you do if that threat goes away and you have buoyant stock market, financial conditions will be easing in that context if the forecasters are right in our panel here, that 2.2% growth and you have a forecast, you say the potential is 1.8, you're above potential growth if that's going to

right to the very top what he had was something that you never see as a journalist swiss bank records of international cover payments going all over the world he showed me how be a set of a whole system with lloyds bank under which they channeled secret payments into a british virgin islands offshore company called red diamond from red diamond the money went into this guy's swiss bank account and he then used it to distribute to the local politicians taking a big chunk of himself of course we don't i can assure you we don't we and i believe most companies all to the business of late payments as you suggest a lot of sums up what they do employees of government it is just all the way business is done. we were actually able to publish what was the most dangerous story that prince bandar had been given not just the plane but over the years a total of 1000000000 pounds we did not invent. corruption i mean i doubt many would have been and they had hanky panky and they had to go down to at it so i mean this is this is what made sure i salute you prince of state run and a friend. how do you agree. of course n

right to the very top what he had was something that you never see as a journalist swiss bank records of international cover payments going all over the world he showed me how be a set of a whole system with lloyds bank under which they channeled secret payments into a british virgin islands offshore company called red diamond from red diamond the money went into this guy swiss bank account and he then used it to distribute to the local politicians taking a big chunk of himself of course we know i can assure you we don't we and i believe most companies all to the business of labor's policy as you suggest a lot of sums up what they do employees of government it is just the way the business is done. we were actually able to publish what was the most dangerous story the prince bandar had been given not just the plane but over the years a total of 1000000000 pounds we did not invent. corruption i mean i doubt many would have been and they had hanky panky and they had to go down to ed so i mean this is this is what made sure i salute you prince of state run and a friend. how do you agree. of course none of

separate customs entity and operate under a free trade regime and it would retain the status of an international banking center hong kong became an important gateway to china for western multinationals following the recent unrest over the extradition law international corporations with offices in hong kong fear that china is going back on that 984 agreement and that the rule of law will be eroded now here to discuss this further with us is d.w. business correspondent so he covers the region for us now could you please tell us could the hong kong protests could this have any impact on the economy. oh yes jenelle. analysts predicted that the controversial extradition bill that sparked massive protests could damage the city's economy and especially its relationship with the united states threatening hong kong as data as the loss of confidence of the withdrawal of foreign investment in hong kong businesses and as that now after the extradition as tradition legislation is indefinitely suspended we know now of course that people think that it's not that serious right now but still we have to be very careful b

of c. as far as we know are very very early stage and. we talked last time you were here about j.p. coyne and how they are trying to broker international settlements between partner banks and we were a little bit warm on it and now there's also a competitor that's emerged international represented by some of the world's biggest banks. barclays. others announced the creation of us c. corning what do we know about. yes the u.s. equine is essentially the same thing the j.p. i'm quoting is they're not exactly ripping it off they've been working on this project now for about 4 years essentially of all these coins and again these are not crypto currency just to be clear so to the audience out there who who doesn't really understand the difference there is a big difference between digital currencies and crypto currencies and these are not crypto currency but in this case what the usa coin is essentially is going to do is it's going to allow for transactions through banking systems across borders that would be much faster and more efficient and have a lot more security to them than the current swift system right now which is a very long and cumbersome system and these coins j.

exclusive interview with people's bank of china governor ahead of his expected meeting with the treasury secretary mnuchin at the g20. this will be his first international since becoming governor. this is bloomberg. ♪ paul: in the us central bank is paving the way for even more policy easing ahead. it cut the benchmark interest rate for the third time this year, now at a nine-year low. arguesnions columnist the r.b.i. policy is quickly becoming the gold standard for the rest of asia if not the world. there was a time when the r.b.i. put out 12,000 word statements. why is it now the model central-bank? >> these statements are still pretty long. here's how it frames the question yesterday. for all the talk about the shift in the federal reserve language and how all of a sudden there's a rate cut party going on in asia, we've lost sight of the fact that one central bank in asia has been extremely consistent in its communications and actions since the start of the year. that is the reserve bank of india. februaryexpectedly in when people were still saying, we think the fed is just pausing before increasing again. that was a bold move, they called it right.

bank. it is known that he is right-wing, pro-israel, and a supporter of jewish sell lme settlements on the west bank. this bucks foreign policy and goes against the position of the internationalty and international law, which holds the west bank is occupied territory and part of a future palestinian state. palestinian leaders were infuriated. the secretary general said on twitter of the trump administration, their vision is of annexation of occupied territory, a war crime under international law. the timing of these comments also can't be ignored. it is two weeks before the bahrain conference, where the trump administration will unveil parts of the peace plan. one has to wonder if this is part of the plan, annexation of parts of the west bank. >> thank you for that reporting. >>> president trump's war with the press started during his campaign and never ended. cnn's chief white house correspondent jim acosta has a new book out today with insight into what it is like to work as a journalist in this white house. jim acosta is back with us next. award winning interface. award winning design. award winning engine. the volvo xc90. the most awarded luxury suv of the century. from w

commercial and tourist center and gaza and the west bank where international businesses come together and thrive imagine the west bank as a blossoming economy full of entrepreneurs engineers scientists and business leaders imagine people and goods flowing quickly and securely throughout the region as economics become more integrated and people become more prosperous well. directs of the united nations relief and works agency in gaza he's experienced a situation that of course 1st hand a welcome to d w a do you shed jarrad cushion as rosy vision of the future. good evening to you from gaza it's a compelling vision but it's not a plan and it's not very realistic you cannot design something without the key agents on the ground in this case the palestinians no one will argue i certainly won't sitting here in gaza with a 53 percent unemployment rate and 1000000 people depending on food heat from my organisation economic recovery is not a good and right signal to have as a vision but you need to be realistic and concrete about how to get there they are not changing that 50000000000 a lot of money to spend in a region with the problems that you've outline

of the global financial system. here i see. their research i don't covered an international web full of offshore bank accounts holding companies and wealth managers. the scale of money laundering from morgan worldwide is massive. interpol has estimated that more than $30000000000.00 on norms of the you. know the bank's money laundering regulations lay down strict rules for doing business with politicians with these regulations or any policed by the banking industry itself. the type has always denied personally profiting from the land but many have questioned how a public servant on a modest salary has apparently become so well so. we've linked time and those close to him to $400.00 companies in $25.00 countries. goldman sachs u.b.s. gave massive loans to the type of new strange. ages b.c. had all the major plantation local companies on their books the biggest of them all probably would be dodger bank. joint you're back has had a very close on lasting association with the time family. they set up a joint venture with a type family in malaysia. through which to tie primaries personal real estate in north america is being held. o

commercial and tourist center and gaza and the west bank where international businesses come together and thrive imagine the west bank as a blossoming economy full of entrepreneurs engineers scientists and business leaders the palestinian people but in the audience was no palestinian delegation they boycotted the meeting having rejected the plan from the start instead there were arab finance ministers and international business leaders the people the united states is soliciting to foot the bill questionnaire says his proposal could create a 1000000 new jobs and slash unemployment helping to bring peace to the middle east . but the palestinians insist there can be no economic solution without a political one. we are here also to send a message that we will not be deceived by the so called economy plan that it can be annoying going to mix solution as a substitute toward freedom and 2nd how can we have economic development when we cannot control our borders our imports our exports our free market our freedom of movement washington says the political portion of the plan will follow but until then palestinians say krishna's proposal is meaningless here

sector one big name is preparing to divest itself of its bad assets by unloading them in a new bank while another finance heavy isn't barking on an internal reorganization the financial times of london has revealed the troubled deutsche bank is preparing what they characterized as a deep overhaul that includes shifting the german bank away from investment lending as well as spinning off troubled assets mostly derivatives into a so-called bad bank that could sell them off meanwhile u.s. financial advice if and goldman sachs is bundling existing units into a new division goldman reportedly will integrate 4 existing groups focused on different aspects of private and. testament into one new division the temple of the new division will be the current merchant banking unit which holds $100000000000.00 in assets. and from one bank's boom to another bank's bust swiss investment bank u.b.s. has been barred from a bond deal with the large state own china railway construction corporation over an alleged insult to china from a u.b.s. banker the storm began when the bank's chief economist said in reference to the swine flu swine fever tearing through

of the other banks. and governments and international organisations do not cover enough to i'm scheduled. after a time here we're going on the ground as the g 20 in japan continues. debate in the shadow of climate emergency economic inequality and the end of your american control of the world coming over the show number 10 declines going underground is invitation to comment on allegations tourism a misled the u.k. parliament about a witness at un facilitated talks to end the world's worst humanitarian crisis yemen where tens of millions face catastrophe we speak to that witness and is the u.n. one of the climate apartheid the woman who could be u.k. foreign secretary before the end of the year emily thornberry on the need for a green revolution plus the untold impact of another revolution as the world hides today's 100 year anniversary of the imperialist treaty of assigned to investigate the hidden global impact of the bolshevik revolution that i was designed to destroy all this more coming up in today's going underground but 1st today armed forces day in britain is designed to encourage t

of our prisoners. which is. in the west bank palestinian peace negotiator 100 national we described the international conference and manama bahrain as divorced from reality. and the elephant. is of course the occupation itself. it is the israeli occupation which was never mentioned not once the conference brought together billionaire investors with middle east diplomats and financial aid as it was organized by president trump funen or in senior adviser jared krishna on hearing the palestinian response to his $50000000000.00 economic plan the 38 year old real estate investor accused palestinian leaders of not caring about their people so the question that leadership has to ask themselves what i just said do they hate their neighbor and israel more than they love their their citizens and their people and i think that that's a fundamental question that hamas is going to have to ask the palestinians see cushman and the trumpet ministration as having a pro israel bias they ask why if washington is so concerned about palestinians well being trump cuts hundreds of millions of dollars in aid to palestinians humanitarian

of america. when i joined live by benjamin char professor at the shanghai international banking and finance institute and the paris school of business is for more on this now are trumps new tariffs threat a bluff or are they serious. well. produced and for the war because of the war that is. the work. in your words and you were. able and you can talk to all the rest of them about the great. benjamin chow i'm sorry but i we're having some technical difficulties and we're having a very hard time hearing you know so we'll have to leave this interview here thank you for trying to join us on the program. a reminder of our breaking news this hour russian officials have announced a russian journalist yvonne go in though of who have been arrested for allegedly having illegal drugs on him they say they have failed to prove him guilty and that law enforcement officers who were in charge of his case will be suspended the journalist attention has provoked anger and protests we'll be bringing you more on this at the top of the hour we'll. have the latest on that and your global news update at the top of the hour

. —— well‘s the world bank rose —— estimated 370 million of its citizens live below the internationalill hutton told me how the ajio —— events of june hutton told me how the ajio —— events ofjune for shaped china. they were notjust protests in tiananmen square. they were in 100ad other chinese cities. it was a huge deal. —— 175. there was some hours where the regime thought it would fall. that is remembered vividly by the communist party elite. now the economy is faltering they are keenly aware that it could happen again. you mentioned in your introduction that media remains tightly controlled. all forms of social controlled. all forms of social control in china are intensifying. witch—hunts against allegedly corrupt officials. i mean, the party is really reaffirming its control... if you are saying it can happen again, could this be led by the middle—class, which sparked the tiananmen square protests 30 years ago? absolutely. i think that in the next ten years it is quite likely this could happen again. president xi has now said that he is essentially a president for life and there w

international talk show journalists discuss the topic of. pundits are saying that the end. not only for german chancellor bank of america and certainly how the coalition government appears to be on its last legs so what does it all mean for germany and its international part that's find out on puerto rico shortly. quadriga 90 minutes on w. . india. how can a country's economy grow and harmony these people find met. when there are do look at the bigger picture. india a country that faces many challenges the 1st sentence people are striving to create a sustainable future. clever projects from europe and. pico to india on t.w. . with different languages we fight for different things that's fine let me all stick up for freedom freedom of speech and freedom of press. giving freedom of choice global news that matters d. w. made for minds. their super sharp. themselves away super secret then you'll hear the jingling of points and super. definitely around 20000000000 more or less. how do germany's wealthiest people live why do they keep such a low profile we have a snoop around to catch a glimpse. of good top of the