when i say delusion, i am not dissing fiat currency or crypto. exchange little green pieces of paper with long dead presidents to get goods and services in exchange -- the crypto folks are due was also a collective delusion, but one backed by a standing military and a very robust legal enforcement mechanism to collect taxes. crypto does not have that second part. while it certainly is a consensus sentiment trade and a momentum trade and a narrative trade, it lacks some of what traditional fiat currency has. tom: this just your writing about how narratives have taken over the market. this -- what is the bitcoin narrative? barry: the great financial crisis led to a massive group of ill advised government interventions. since then, central banks around the world have been printing. therefore, all of these fiat currencies are going to become worthless. your choices either by crypto -- is either buy crypto or hold onto your fiat currency, which will soon be worthless. i tend to tell people send me all of your worthless u.s. currency and i tell people

in contrast to central banks, fiat currencies, stable coins do not have legal tender status. if widely adopted, stable coins could serve as a basis for an alternative payment system around new private forms of money, given the network externalities in payment, there's a a risk we could see widespread use of private money for consumer payments which could fragment the payment system and introduce consumer protections and financial stability risks. indeed, the inefficiency, fraud, and instability in u.s. payment system during the time of active competition among issuers of private paper banknotes led to the need for a uniform form of money backed by the national government. second, of course, the pandemic accelerated the migration from cash to digital payment in many countries. to the extent that digital payment crowd out the use of cash over time, it raises questions about how to ensure that consumers retain access to a form of safe central bank money? in the united states, we saw the use of cash spiking at certain times during the pandemic, but we also saw a pronounced shift

it has a lot to do with its history with fiat currency.an paint a picture of what the adoption and attitudes are like right now. it is obviously a brought on today. you focus on venezuela. just some high-level thoughts there. simon: in adoption, when we look at latin america, the markets are traditionally used as sources of information for a lot of people. you also have the traditional exchanges and what is interesting, but different from the u.s. is that the adoption of crypto happens two ways. for training that helps move money around, it is widely used for turning fiat into u.s. dollars and moving money into the united states through crypto. it is also used for an upcoming middle-class that is subject to volatility, depreciation, in countries like argentina and venezuela and people naturally want solutions. people want to find out more about what is out there and the trust barrier for entering and using crypto is lower in many cases, which is the exciting part about crypto adoption in latin america. naturally, stable coins are pegged to

is odd to ask somebody from the crypto world about the fed, kind of, although this is the master of fiaty. he did not drive but going down even as golda dropped. antoni: bitcoin has taken a little bit of a beating prior to that, so the news is not even affecting me anymore. kidding aside, it is important with the fed is doing. bitcoin has profited handsomely off of the loose monetary policy. right now it is hovering within a range. i don't think this should have too much of a sway over where crypto is trading right now. amanda: we should note some of the lack of logic of what is happening in gold. if we are going to get real yield anywhere else, because monetary policy changes, you could see people shifting out of yield, but we have not seen anything yet. maybe a pre-reaction. as the case for bitcoin changed in your view? what is the key driver to own bitcoin here? antoni: fundamentally, we are still in an inflationary environment, and i know the fed says it is transitory and that what we are feeling is not real, but every day i feel inflation creeping up. 10 years ago, something that co

for el salvador to accept bitcoin as its own fee at currency -- fiat currency is vitally important. i could sit here from iphone, not have to worry i'm going to you -- lose transfer fees. that is a game changer for anyone making a little bit of cash. >> why is he proposing it now? >> it was bitcoin miami. there was a conference going on. it is just now becoming more mainstream to be able to pull this off, it is probably cheaper now than ever to pull this off. they might as well do it now. >> let's go over to amsterdam. while the president has touted this idea which likely will be ratified, how much of a move do you think this is to counter u.s. allegations of corruption, this widening rift between the u.s. to el salvador trying to flex its muscle, help its own people? >> in my opinion, that u.s. is right in the middle. you have one extreme which is to adopt cryptocurrency as they exist, the path el salvador is taking. the other extreme is two cryptocurrencies, which is what numerous countries are doing, and you have the western europe which are regulating existing cryptocurrencies,

while governments can come in and regulate fiat on ramps and offerings, they can reduce reporting requirementsultimately, this is a free and open global financial system that is at a point that has grown to such a network offense that it ultimately, i believe, cannot be stopped. lisa: great to have you with us. we appreciate your time. jason: thank you for having me. lisa: jason les, thanks again. breaking news from moderna. they're having concerns, as many know, about the side effects some of the vaccines, pfizer and moderna, on young people. moderna says if its vaccine does not cause the slowing of the heart, which was the cause of concern, we are watching shares of moderna today. we are back after this. ♪ amanda: this is bloomberg markets, i am amanda laying along lisa abramowicz. we are keeping our -- amanda lang alongside lisa abramowicz. we are keeping our eye on vertical aerospace. big hitters from companies like virgin atlantic. they plan to go public later this year. it was a merger, a blank check company. ceo stephen fitzpatrick is with us now. let's start with the opportunity. where

smart people will find a way to conduct business without using fiat currencies. way, wall street getting on board. you know, there is a headline yesterday, right. it's a 180. thomas petifree who i like, said keep bitcoin away from the real economy. yesterday's headline, thomas, interactive brokers offer crypto trading at the end of the summer. you're right, smart peel are seeing the light. they're coming on board. kristin, thanks, always good to have you on. >> thank you, charles. charles: welcome back investing youtuber matt kohrs. i had trey collins on yesterday of trey's trades. at the end of the show, the segment what is the greatest risk for the reddit revolution. this is what he said, infiltration. >> i think the greatest risk is infiltration. there is no stranger to the note that these big hedge funds and firms will pay people to infiltrate the community and act like one of us. we have to watch out for those people and recognize this is not the normal way, stick true to your convictions, simple as it gets. >> i a have great book everyone in the reddit comm

fiat talking to you afterwards! -- physically hurts me.nk you so _ physically hurts me. pat nevin and chris, thank you so much - physically hurts me. pat nevin and chris, thank you so much for - physically hurts me. pat nevin and chris, thank you so much for yourl chris, thank you so much for your time, gentlemen. thank you. we will bring you the team needs a little later on in the programme. staying with group d. the other two teams in england and scotland's group, croatia and the czech republic, playing each other right now. they're entering the closing stages of the match we perhaps wouldn't have predicted croatia, world cup finalists, would be going into their second group game without a point on the board, in contrast to czech republic, who started with that victory over scotland. they've been in action at hampden park. wales now move to rome, ahead of theirfinal group game with italy with the pressure off after their victory over turkey, which should all but guarantee their place in the last 16. for many of the players, playing in th

it is good to buy assets that are not in fiat currency.se bitcoin has the same macros as gold, but it stops there. gold has got some real world uses. if the price falls enough, the current level is around $5,000 an ounce, it becomes economically viable to use industrial uses again. the floor for bitcoin is zero. the biggest use for gold is jewelry. not speculation, not for investing, haven assets. the biggest demand is for jewelry. bitcoin is just -- they are not that similar. you could say it is early or it is very late in adoption. it is arbitrary. anna: gold has been influenced by wedding gifts. i do not think that is the case for bitcoin. let's get a first word news update. >> jerome powell says the fed will impatient -- will be patient to lift borrowing costs. reiterating -- while he acknowledged uncertainty around timing, he said it is unlikely the u.s. economy will suffer from 1970's style inflation. sydney is to impose new restrictions as an outbreak of the delta variant spreads. the u.s. looks set to under shoot president biden's

in on this bitcoin debate, a lot of people talking about the relationship that he could have with fiaturrencies. i was starting to feel any inverse relations are relationships that are building. >> you have windows where there is a connection but it is not strong and consistent. it's early days. we have spent a lot of time looking at this. the behavior of cryptocurrency and other financial market instruments. perhaps that can change if the volatility structure of cryptocurrency were to come lower. it is very weak. haslinda: the global head of asset research. we will bring you the details as they come in. here are the latest business flash headlines. hsbc says hong kong customers can continue to access online and mobile banking services outside the city. the lender issued a statement, with a journalist waiting, regulations are believed to prevent cash flow from hong kong. a spokesperson says hsbc has no plans to amend any services. truck alliance jumped in its trading debut. shares closed at $21 and $.50. the company operates in uber like app that connects merchants who need their goods

we have worked with 50 major wallets to enable people not only to move currency from fiat to crypto and the cryptocurrencies to buy things at merchants that accept cryptocurrencies, but we also recently announced that we will settle, the first of the stable coins. this goes beyond just helping people by cryptocurrencies. it is a broad, comprehensive approach to enabling payments and taking the friction out of it. emily: appreciate that update. i will let you know. -- i will let you go. we are having a little trouble hearing you. congratulations on the crypto efforts and that new partnership with goldman sachs. coming up, 23andme out with a new finding that a person's age and gender can increase the likelihood of them losing their taste and smell, of course, one of the major symptoms of covid-19. ceo anne wojcicki joins us next. the bezos brothers are teaming up for a trip into space. when can we expect the launch and who is mark bezos? this is bloomberg. ♪ [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calli

fiat by holding onto those nurses. pat cullen from the royal college of nursing.te isle is hoping that a test event this weekend could pave the way for the reopening of its clubs — just in time for the expected return of british tourists next week. our correspondent anna holligan sent this update from ibiza... so here we are on ibiza's famous sunset strip and it is home to some of the bars that help to give ibiza its status as the party capital of the world. but, look — you can see cafe mambo all shut down for now, because when the tourists were here, they used to come and watch world—renowned djs like fatboy slim play for free and then they'd follow them on to the clubs. but right now, the whole clubbing industry on the island has shut down because of covid—19, so you can come and spend time in the bars, like the original cafe del mar, but the dancing is still banned. this is san antonio bay, so this is where the majority of british tourists spend their time on ibiza, and of the 4 million foreign visitors who come to this island every year, a million of them are

there's a word for government the executive fiat. it is called dictatorship.oining us, newt gingrich, former speaker of the house, fox news contributor, they don't want to let go of these states of emergency they just declare by executive order because it gives them all sorts of power they can exert when they feel it is appropriate. what are the dangers here? >> this is enormously dangerous and i suspect it will certainly into a series of lawsuits because you have governors clearly violating the u.s. constitution. the constitution was written to guarantee our rights against the government and now your governments out here weather is on blocking churches from having sessions or dictating the people are saying which businesses can open up the which schools can open up and i with your analysis, there's something about being a liberal democrat, it is an addiction and they love being in charge and corruption so they use their power to award their friends and punish their enemies and to take care of their family and their political supporters. and i think this is th

. >> fiat value is there as long as the speculative fervor is there. >> the amc phenomenon -- >> it isial media phenomenon. >> people need to think about what is the fundamental value. what is the stock price relative to fundamental value? >> as we said in january, rocket ships go back to their lunch -- their launch pads. >> buyer beware. emily: say what you want about meme stocks, they are attracting new and professional investors alike. shares plunged thursday after the company disclose their plan to sell shares to cover debt, but afterward, shares moved up again. what is happening here? bailey: amc came out this morning, as you said, with a filing that they have the potential to sell about 11.5 million shares. hundreds of million shares change hands every day the last few weeks, and then about midday, they came out and said they completed the share sale, so they went ahead and sold 11.55 million shares, profiting roughly $587 trillion in fresh cash, and investors at least initially responded well, sending shares back up to being actually in the green before the stock fell yet again.

the administration is working to do that by fiat without a vote p in congress, without public consentany kind. by definition this is the most radical possible attack on the core premise of democracy. which is that citizens get to run their own countries. not foreigners, citizens. the leaders of the democratic party no longer believe in democracy is constituted and they definitely don't plan to lose another election. as the rest of us go about our lives, they are reporting huge numbers of new voters into the united states. when you say this out loud, they become absolutely hysterical and call you names. but they do that only because it's so obviously true. unfortunately for susan rice, this is one change in the country that's pretty hard to hide. if you live within 100 miles of the mexican border, for examplee you watch it happen in real-time. on the border, the rule of law has been suspended. the american system of order and decency and fairness is being mocked and destroyed by the very people in charge of sustaining it. you don't have to be a conservative republican to be deeply offe

the countries that dominate the financial system including the united states and others who rely on fiat currencies, maybe they're uncomfortable with this idea it will gain traction but would you address, if you could, katie's looking at similar charts to the ones you're looking at. she acknowledges she sees that head and shoulders action that you pointed out. but she comes to a very different conclusion than you do how do you respond to her reading of the charts as opposed to yours >> i would agree with katie the near-term support is at 30,000 there's no doubt about it. the volume dried up, selling pressure dissipated. the question is, what will be the next big news item china announced the ban in previous weeks but now are enforcing the ban this week. more news about these bans coming and we'll see if any other countries jump onboard basically it's el salvador versus china and turkey who don't like it and malta is under investigation by a financial action task force. >> i'll take china minus the points on that bet with el salvador katie, why don't you wrap it up for us here, louie and

there was a headline from elizabeth warren talking about the hearings on central bank digital currency fiato have more hearings on this. matthew goetz, thank you ray much. block tower capital advisors cofounder and ceo. this is bloomberg. ♪ alix: lots coming up for the next 24 hours. the wto's meeting today and tomorrow about vaccine expansion. yosemite -- you have secretary blinken. $15 billion, 1:00, very interesting. guy: we will have the warren hearing, something a lot of people's radar. the bank of canada rate decision. joe biden lands tomorrow night in the u.k.. i think he lands in suffolk, air force one touches down tomorrow night. he then takes the chopper down to cornwell. gamestop to get back to the markets. gamestop is reporting earnings after the bell. certainly paying attention to that. alix: coming up on balance of power, jared bernstein will be joining david westin. this is bloomberg. ♪ so... i know you and george were struggling with the possibility of having to move. how's that going? well... we found a way to make bathing safer with a kohler walk-in bath. it has the lowest

rather, i do see in the future that we will see sovereign currencies, fiat currencies make the move ono a blockchain based system. emily: how is this uncertainty impacting where you are placing your bets? do you have any plans to pitch a tent on bitcoin beach in el salvador anytime soon? michael: this has been an interesting time in the market, seeing moves like what we are seeing in el salvador, seeing an environment where we have some of the world's most followed and famous investors publicly coming out in support of bitcoin, major corporations beginning to add bitcoin to their balance sheet. this is an environment unlike we have ever seen before around this asset class. i think the last 18 plus months, people in the investment community have solidified the staying power digital currencies now have and investors are waking up to the potential they can provide to their portfolios. emily: i just spoke with the coinbase co-founder who is legitimately concerned that china will surpass the u.s. in crypto and especially when it comes to regulation. what do you think? michael: what we are s

for pe, we are paying for eyeballs or we are paying for the scarcity of crypto and the collapse of fiaty, that is what this time is different means. it always refers to the fact that human nature is unchanging. that said, this is a unique environment. it is hard to find a post-pandemic massive monetary stimulus, so there will be winners and losers. there will clearly be stock pickers who will identify the right companies in the right sectors. it is hard to do. ps, it is hard to know when to jump off that train. people are better buyers than sellers. that is the big takeaway. tom: we have breaking news. we have to leave right now. thank you on the midyear outlook. this is an exceptionally important small release from moderna. detail press release, not a normal press release. it is around a sample of eight individuals, eight participants obtained one week after a second dose of the virus around a set of variance, including the delta india variant. lisa: the idea is do vaccines prevent you from getting seriously yell -- seriously ill from some of the variants, including the delta variant.

it is this grand fiat bar, and all of these expensive bottles, and this nice music playing, and i panic across the bar -- i pan across the bar, and there is tom sipping a martini, and he looks and he goes, "motel 6." [laughter] lisa: that's gold. jonathan: it is fantastic. up later, greg valliere. your equity market pretty much unchanged this morning. we advanced 0.05 percent. that calm extends from the equity market to the bond market. or maybe from the bond market to the equity market. 1.6011%. lisa, i think there is still so much up for debate still that we don't have the conviction we had at the start of the year, and your starting point matters as well. lisa: i agree. jonathan: your starting point matters. if you start the year with yields 50 basis points above where we are right now with the view that things are going to get a lot better, you reprice that through q1, and now we reprice that through q2. tom: that was full of thought leaders. jonathan: do you want me to expand on that? [laughter] lisa: i can't wait. jonathan: not that mrs. keene once me to, either -- mrs. king want

this mercedes has liberals looking like fiats, american survey union fellow mercedes. tongue is so sharp, she's only ever eaten grated cheese. caitlin,. >> i'm here. >> i would say here. >> i know, but we talked a couple of weeks ago. >> i thought we kind of bonded. >> i think we did. i thought it was great. >> when you sent me those photos . >> were you excited about them? to get i was excited three or four times over the course of a evening. >> before we get started i have personal for you. i would like to know the answer to this and i heard it through the rumor mill. the question is do you have a bug guide sprite? >> i don't. >> no, i heard this threesome people in the buckeye world. it's a car. i thought it was a medical disorder. and austin healey. >> i have been hk 500. >> okay. it's in the same air hub. i did have a metropolitan that sold to dana perino at loss because she can drive a hard bargain. >> we had that comment i though that would be a good way to start at operative. >> no, but that's close enough because your a car junkie and i makar junkie. >> i do e

digital, that has no intrinsic value, to be seen as a real hedge against inflation, especially for fiat it is hard for me to believe that that is going to be viable. certainly, it has not been a bad bet. naive investors join at the end of the party and it could get pretty badly burned if we do see some reality returning to the cryptocurrency market. kathleen: thank you so much, eswar prasad, senior professor at cornell university. bank of america told bloomberg that it's customers are struggling with a tightening labor market. the ceo, brian moynihan, discussed whether the banks use inflation as transitory. >> central banks are going to struggle because at the end of the day, it is the determiner here. think about what they went through. think about the u.k. delaying the full reopening because of the variants. you think about the u.s. vaccines through half the population, and it is pretty open. pay attention to the vaccine path. the second question was the dots, dot plot. there's great debate about whether these add value. leaving that debate aside, the fence economic projections this y

really is amazing when these billionaires like the guy in mexico says fiat currency, where their billionsjunk. he dissed it really bad. also on monday, this is what i think was really important, the former governor of the bank of england, mark carney gave a speech. it was really a great speech. it was titled, the art of central bank in a centrifugal world. the acknowledgement, crypto assets, distributed finance is here to say, it is growing. he actually said central banks have to keep up. one of the things he pointed out any new currency has to have economic dynamism, resiliency, quality, issues with anonymity, being environmentally friendly. what do you say? are those key issues for bitcoin >> i think we've got a whole host of very progressive regulators. i think they're all pretty enthusiastic about harnessing the power of bitcoin in the 21 first century economy. they know we need to go a million times faster than the 20th century monetary system allowed. i think they want to put a supportive, appropriate regulatory environment around it. make sure it is used as a force for good, progre

recall it was exactly one year ago today that we had this trump photo up when he marched across that fiat it's going to st. johns church flanked by the chairman of the joint chiefs and camo. trump held up that bible after police aggressively cleared away people that were protesting the murder of george floyd. we've learned now one year later that police throw an attorney and a court filing side for the first time that tear gas was indeed used on the demonstrators that day as they insisted it was. with that, let's bring in our lead off guests on this tuesday night. claire mccaskill former democratic senator. you may, warehouse correspondent for pbs news our and moderator of washington week. also on pbs. and sam stein veteran journalist who is now white house editor for politico. good evening and welcome to you all. senator i would like to start with you. i'm curious about the urgency you must feel right now and i'm curious if you think joe biden can ramp up the urgency in his statements and comments. >> well i think that what's going on at the state level, one of the dirty little secrets a

i told you you wouldn't believe that story out of las vegas, did i fiat had?in tomorrow for our big friday eve show. now it's time for "the last word with lawrence o'donnell." good evening lawrence. >> good evening, rachel. while you were working, chuck schumer and nancy pelosi had a meeting with white house people about this infrastructure deal on the two tracks, the bipartisan bill and then the democrats-only version of it. and chuck schumer said it was a very good meeting. we got into quite a bit

. >> greg: young people come up to me all the time ago what is up with fiat currency speak of these libertarians >> dagen: i like twentysomethings wanting the gold standard back. beauty can lose the mask most places so why not airplanes? and would it stop anarchy like this? ♪ ♪ we made usaa insurance for members like martin. an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it with hassle-free claims, he got paid before his neighbor even got started. because doing right by our members, that's what's right. usaa. what you're made of, we're made for. ♪ usaa ♪ [sfx: thunder rumbles] [sfx: rainstorm] ♪♪ comfort in the extreme. ♪♪ the lincoln family of luxury suvs. age is just a number. and mine's unlisted. try boost® high protein with 20 grams of protein for muscle health. versus 16 grams in ensure high protein. boost® high protein also has key nutrients for immune support. boost® high protein. why choose proven quali

so it's -- the fiat chassis, the ford transit, the mercedes chassis, you see this growing in the retaily amazing numbers, which are to these younger buyers. >> also, there is a great secular story about minorities who have decided you know what welcome aboard, right? >> yeah. >> just yesterday we were part of a coalition that we invite everybody. this is inclusion is just great for the r.v. industry. everybody needs to be able to go outside, enjoy the outside for their mental health, physical health and so for us, we want to invite everybody to the r.v. industry and outdoors. >> you dominate this country you got a terrific factory in it lee. i only know that because i've been there many times. europe, too? >> europe, too europe is as strong as the u.s. right now. we have six factories in germany. two or three in italy. one in the u.k and as, you know, lockdowns happen or come off, people are still allowed to go use their campers and they're buying them. we're not even going to shows in germany right now. we're selling them through the dealers and it's incredible backlogs there, as well.

ask you something, to me this is somewhat of a side show bitcoin story to the extent that's about fiat and digital currency this doesn't seem to so relevant what do you think are the central stories in bitcoin and what is weakening the trading. >> the price is a big difference, there was a love euphoria in the miami bitcoin conference, now that's over, prices have collapsed, it could be less understanding with new investors but bitcoin is strong there will only be 21 million bitcoin, we only have 18 million in circulation today, the rest will be mined in the future. that makes it a scarce digital asset that will have value to those who value a scarce place to store their value so i think what we really need to look at with cryptocurrencies networks what is the underlying function of that network there's so much innovation with decentralized finance, with web 3.0 applications that really do provide a new type of critical infrastructure to use that phrase, that is less vulnerable. we saw earlier today the internet went out a little bit, aws, there's a at alternative, called biocoin a dec

this is what transforms of the decision from near fiat it is something that is politically legitimatee of securing the ascent of a free people. one distinguishing feature of a modern civil society is that authority is supposed to be crowded in this way in our shared rationality, rather than appealing to, say, a special talent for priestly divination. this is our indictment inheritance. it appears to be in a fragile state. the inscrutable arcana of data science, a new priesthood peers into a hidden layer of reality that is revealed only by a self-taught ai program, the logic of which is beyond human knowing. the feeling that one is ruled by class of experts who cannot be addressed, who cannot be held to account, has surely contributed to a populist anger. from perspective of ordinary citizens, the usual distinction between government and the private sector starts to sound like a joke, given how concentrations of economic power order our lives in far-reaching ways. google, facebook, twitter and amazon have established portals the people feel they have to pass through to conduct the busi

. >> we helped launch the iconic fiat 500., you are announcing you will have a new electric version after announcing the relaunch of vr five. is this what customers want? electric versions of iconic cars? >> the idea is to combine new technology like electric with emotional concepts. memory is a very strong emotional lever for a lot of people. they're taking inspiration from history to bring in cars that people will merely connect to. the soul of manufacturing is in the roots. if you can't connect with the roots, you lose. >> do you think your alliance with mitsubishi is strong enough to compete with the likes of volkswagen, which are making a big push to ev's? do think he should partner with other brands, other carmakers in europe and asia? >> i think, in the case of ev's, one of the advantages of the alliance is not only do we have the scale, but we have -- we are amongst the first to be in the ev's. we have an advantage when it comes to electric cars. >> do you have any plans to be entered the chinese passenger car market?

and the former fiat chrysler, 250,000 vehicles they haven't made because they haven't had enough chipsst selling vehicles. ford has been hard hit because the f-150 is the best sell vehicle in america -- selling vehicle in america, 109,000 of those, apparently, not made because they don't have enough chips. the jeep cherokee also hard hit and some chevy products as well. it's been a rough ride, but they've got enough chips, ashley, apparently to launch these vehicles out there, get them into the hands of consumers. as i said, all of the 125,000 that are coming now out of this plant are already spoken for. you cannot buy a new bronco right now. they say not until 2023 if you want to actually order one. they'll give you an extra -- ashley: oh, my goodness. >> -- $1,000 to custom order. nothing like something that you can't have. [laughter] ashley: exactly. no kidding. all right. well, thank you very much, jeff. the latest on the chip shortage, hurting everyone, all of the automakers across the world. thanks so much, jeff, appreciate it. >>> wall street heading south, that's the headline.

playing a role in the transfer and conversion of the funds, the cryptocurrency funds into what's called fiatbles, whatever it may be so we can trace the payments and expose the bad guys. >> one thing is for sure, this does not have the energy in washington, d.c., that, let's say, going after the big social media providers does. so we're going to go to some of those same lawmakers and say what about this and see if there could be some energy in terms of giving it some attention to come up with a plan. dimitri, thank you very much. we'll have you back and track the progress on this. >> thank you. >>> one of america's newest high school grads is already making her mark in the world. the valedictorian that went viral. why? because it was a surprise and she took a chance that very, very few in her position would take. you're about to meet her and hear why her first step into her adult life was a very daring one, next. at aspen dental, today is the day to take back your smile. why wait? we're here nights, weekends and right now, to give you exceptional care and 20% off your treatment plan. new pat

i expect rectors to look at how cryptocurrency intersection with the fiat economy and using our law enforcementrs and make it hard are for them to operate but more importantlily may make them not to want to play the game. >> you mentioned cryptocurrency, the currency of choice for a lot of the ransom requests taking place, reportedly the case for bitcoin with cloenl and jbs payments so is it possible for there to be a more aggressive concerted effort to get that in control in is it in the works is it even possible in order to kind of prevent or thwart some of the activities? >> i think international regulators are taking a hard look at cryptocurrencies and how they have skated under the radar for some time in terms of transparency what i would expect here to start in the united states is that the treasury department -- and this began under secretary mnuchin in the last administration but looking at the intersection points where there is leverage, over-the-counter defsks, kiosks, but looking for know the customer and transparency. that model should shift to the international regulatory commune a

worth of share shorted, 3.99% short interest relative to shares outstanding and a pretty cheap borrow fiattime of course, shorts have been covering recently but nothing like we've seen with other meme stocks today perhaps, scott, it is one example of the hedge funds, the reddit traders, everybody on the same side, helping push wendy's up more than 22% today >> they can go from a frosty together thank you be >>> josh brown, i turn to you because of your shack investment >> i was going to say when i saw that wendy as because like the new wall street vets target, i said, wow, you're going to make nelson peltz richer? okay that's kind of cool, i guess but then i was thinking about shaq because shaq has an obscenely high percentage of share shorting it is pushing on 10% now which i don't quite understand, but it is 42 million shares short it is a smaller market cap than wendy's, arguably a lot more growth potential over the next five years and beyond than wendy's has given the store footprint. so i was just thinking like if you are going to do anything to take on shorts, can i recommend -- can

i told you you wouldn't believe that story out of las vegas, did i fiat had? i'll see you again tomorrow for our big friday eve show. "way too early with kasie hunt" is up next. >>> breaking new this morning from miami as a high-rise building collapse sets off a massive response. the question is just how bad is it? >>> plus, a possible break on infrastructure talks. the question is what issues still need to be worked out. >>> and britney spears speaks out in court over the conservatorship that prevents her from making her own business decisions. the question is will the pop star regain control of her own life? it's "way too early" for this. ♪♪ >>> good morning. i am kasie hunt on this thursday, june 24th. we'll start with the news. >>> there appears to be a long awaited break threw on bipartisan infrastructure talks. specifics of the deal, including how it will be paid for, have not been released, but lawmakers seemed optimistic as they left a closed door meeting with officials last night. >> republicans and democrats have come together along with the white ho

but over the 12 to 18 month horizon, if you think a crisis in confidence is coming with regard to fiatou like bitcoin. i think it is a very good thing to have in someone's portfolio in that alternatives pouring which really everyone should have. charles: great stuff there. hey, i know of course you're still advocating being invested in stocks although the market has become somewhat indecisive, right? major indices trying to figure out ways to break out. what do you think could break us out? we're right in the shadows of all-time highs but discuss can't get over the hump. >> break us out to the upside or downside? i think we're probably more likely from here through year-end going to see some form of a downside. we'll make new highs for sure, charles. if we see a higher corporate tax rate going to 25 or 28, we should expect earnings to fall back to earth. at least expectations of earning growth to fall back to earth. if we get that scenario, we should continue to accumulate. the fact until we have that, you know, that dire picture around the fed has to hike rates, we have to be overweig

partnerships with all kinds of companies whether it's nio out of china, volvo, my9 yacht, hyundai -- fiatg companies, ev go, green lots, ev connect. what other companies are you hoping to really strike partnerships with, and is there really any turning back? >> there really isn't. and, you know, for us it's about bringing the fueling experience into, you know, the mobile era so the companies that we're also working with that you didn't mention for our consumer, google and is apple and mobile platforms. you have to think about not only the in-dash navigation application or the auto oem general application on your mobile phone, but then the mobile phone natives platforms plus on the fleet side you have a whole litany of players in the software space on the telematic side, on the route planning side. so it is a giant software integration game. but as you said, that's what makes driving an electric car feel so great. it's so modern, right? it's plugged -- it feels like your mobile phone or your computer. liz: yeah. well, you're driving an iphone. checkpoint -- chargepoint, rather, we are watc

because there's no better way to inspire confidence in your country's fiat currency than to give yourselfrs. that's why the u.k.'s 20-pound note features queen elizabeth with adamantium claws. here in the united states, we've got our own controversial, overvalued resource: billionaires. there's a new reason to make their space trips a one-way ticket: you see, newly leaked i.r.s. data shows that the 25 richest americans, including jeff bezos, michael bloomberg and elon musk, paid little to nothing in federal income taxes. well, that should make filing easy. instead of attaching their w2s, they just staple on a picture of their lily-white ass and tell the i.r.s. to kiss it. this is particularly galling when it comes o amazon c-e-egg jeff bezos, who in 2007, paid nothing in federal income taxes, even as his company's stock price doubled. that is an outrage! the revolution starts today! okay, we need pitchforks and some banners! let's see what we have here. wow, free prime shipping on spiked baseball bats. oooh, while i'm on here, i'm out of nespresso pods. inspiratzione. what do i order? wha

i told you you wouldn't believe that story out of las vegas, did i fiat had?n tomorrow for our big friday eve show. "way too early with kasie hunt" is up next. >>> breaking new this morning from miami as a high-rise building collapse sets off a massive response. the question is just how bad is it? >>> plus, a possible break on infrastructure talks. the question is what issues still need to be worked out. >>> and britney spears speaks out in court over the conservatorship that prevents her from making her own business decisions. the question is will the pop star regain control of her own life? it's "way too early" for this. ♪♪

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unlike fiat currency or crypto the world recognizes the long-term value in holding a portion of yourand large institutions have recently begun to be net purchasers of gold and for good reason. as china, russia and even the united states consider their positions on digital dollars. many experts fear that they will introduce their own tightly regulated digital currency in effort to stem the use of illicit transfers of large sums as well as to prevent any potential crippling cyber attack on these often anonymous currency exchanges. now using bitpay you can purchase the longterm wealth protection resources of solid gold, silver, platinum, and palladium. while the wild swings in cryptocurrency have made millionaires out of many the potential for a dramatic drop has never been more feared than it is currently. whether you've made 1000, 10,000, 100,000 , a million or a billion dollars from cryptocurrency, now is the right time to protect those profit. by securing them with physical gold shipped directly to your home. bank or vault. protect your cryptocurrency gains in a fluctuating market b

history proves most people buying bitcoin are doing it to hedge inflation, fiat currency printing, but warren buffett said that if you panicked about the $40,000, 40,000 percent increase in our national debt over the last 77 years, you would have lost a tremendous amount of money because you would have bought gold, say you bought $10,000 of gold in 1942 to hedge inflation versus $10,000 of the s&p 500, would you have lost $50 million. the 10,000 of gold became 400,000, the 10,000 of the s&p 500 became 51 million, so in the short-term, these non- productive speculative assets can do anything but in the long term if you want to hedge inflation and money print ing, you want to own productive assets with yield, and for my money, you want to own the s&p 500, that's the way to hedge inflation, and i think president trump is correct, you know, it is potentially questionable, but these things can stay irrational longer than the doubters can stay solvent. we found that out 400 years ago with tulip mania when the price went up to the modern day equivalent of $350,000 before crashing and never re

i told you you wouldn't believe that story out of las vegas, did i fiat had? i'll see you again tomorrow for our big friday eve show. now it's time for "the last word with lawrence o'donnell." good evening lawrence. >> good evening, rachel. while you were working, chuck schumer and nancy pelosi had a meeting with white house people about this infrastructure deal on the two tracks, the bipartisan bill and then the democrats-only version of it. and chuck schumer said it was a very good meeting. we got into quite a bit of detail. we're all on the same page, both tracks, the bipartisan track and the budget reconciliation track are proceeding apace and we hope to have voted on both of them in the senate and house in july. and i'm completely fascinated by this, rachel, because nothing like this has ever been done before. i don't know how they're going to do the two bills because if you're the republicans and you're negotiating with the democrats on infrastructure bill, normally you would be saying to them, so this is the bill, right? there's not extra, like, thing y

looking at something that has produced sweeping change in germany, you would expect it it was done by fiat, a piece of legislation, one single grand memorial or museum or something like that and there wasn't. it was actually the planets almost lining up in a way that led to this collective decision to create a different kind of culture. if we can pick through some of those things to help people understand. part of this was german youth. the generation that was raised by people who had seen the war and lived in the aftermath and were somewhat calcified and quite wounded because of it. they raised children who did not like what they saw help us understand how that contributed. to the cultural change in germany. were they in a place to be more willing to honor the victims and face the past. >> it's very true. i had the misfortune of meeting some of them that the war generation was really formed in a very authoritarian way. you hear stories, i don't mean to say that all nazis are stored -- all nazis are monsters, you hear stories that they love their children and play music in the evenings. th