coronavirus pandemic scenarios joining us now to just about shows that investigative journalist ben swan now ben in short what does this mean and what will the fed require banks to do. so essentially here's what happened in this really comes out of the doj frank bill going all the way back 220072009 remember when dodd frank was 1st put into action essentially with that legislation came rules where the fed has to annually stress test banks around the country to make sure that they're able to weather certain economic scenarios essentially and so the fed ran these stress tests and what they found was there was kind of a general sense of economic conditions being rough and then they ran stress tests on 3 different coronavirus related or specific scenarios one would be a you shaped recovery one is a v. shaped recovery and one is a w. shaped recovery meaning that you come out of a recession and then you go right back into it and so essentially they look at these banks and they found that there were at least 30 banks that failed this stress test that what they found was that these banks under certain c

at this situation let's go ahead and bring in boom bust because the investigative journalist ben swan now ben on the news of this deal with the shares soared why did more markets actually react so strongly to this news. well the biggest reason they reacted strongly to it is because without this deal. it was essentially going to be insolvent within a matter of days as you heard in that sound bite there who they were really days away from this just to give you an idea of what this deal consists of as you said it's about $10200000000.00 in terms of a cash infusion into the company but it also allows for 20 percent stake by the government and 2 of the board seats after be given over to the german government as well now we've heard the german government say they're not going to be long term in this that they're going to get out pretty quickly or soon as they can is after everything stabilized but i think there's a serious question here about the issue of picking winners and losers i mean when when government steps in and puts in a huge bailout package for an airline and obviously it's a huge indus

debt securities joining us now to discuss it is bloomberg knows that investigative journalist ben swan now ben the chinese government has sold off u.s. treasuries in the past correct and what makes this time different than the last time. well one thing that makes it different is kind of the situation that we're in globally look at chinese have sold off debt in the past including $110000000000.00 just last year alone about 10000000000 dollars over the last couple of weeks so it's not a new thing necessarily but what makes it different is that china seems to be actively trying to divest right now of that u.s. debt and u.s. securities and trying to let go of those in the midst of a time when the u.s. is as as chrystia danielle were just talking about when the u.s. is printing money in astonishment rate with the fed intervening as it is in the economy printing some 2 trillion dollars just in the 1st quarter of this year a lot and now been part of the reason for this move was because reportedly the fed was looking at negative interest rates despite drove being specifically against it as daniel said

and let's go ahead and bring in boom bust co-host ben swan to discuss this further now ben you actually kind of touched on it a little bit about government overreach on concerns and that nature but why does a pandemic spur gun sales i mean what do you see as the rationale here. yeah i think it's the same reason that people will run out and grab a bunch of toilet paper right why why would someone do that well because the fear is that we're going to run out and that if the government locks things down i won't have access to be able to protect my family with getting them the things that they need what part of that fear also realized and what if it goes even further than that what if people attempt to take from me what i've collected what if there is food rationing that's taking place and someone comes to take from me so there is a especially american idea here that says i have to protect myself and i have to protect my family because i can't count on someone else whether it's police or government to do so and gun sales spike when that happens you know how do these sales spikes due to socia

ben swan to discuss this further now ben you actually kind of touched on it a little bit about government overreach on concerns and that nature but why does a pandemic spur gun sales i mean what do you see as the rationale here. yeah i think it's the same reason that people will run out and grab a bunch of toilet paper right why why would someone do that well because the fear is that we're going to run out and that if the government locks things down i won't have access to be able to protect my family with getting them the things that they need what part of that fear also realized and what if it goes even further than that what if people attempt to take from me what i've collected what if there is food rationing that's taking place and someone comes to take from me so there is a especially american idea here that says i have to protect myself and i have to protect my family because i can't count on someone else whether it's police or government to do so and gun sales spike when that happens you know how do these sales spikes due to social unrest which you touched on later in your piece there compared to previous situations that we saw in say ferguson missouri or baltimore maryland just a few years ago. yeah it's i think it's different for a couple of reasons number one what's made this particular set of protests so i think starkly different than what we've seen in the past is the fact that they came on the tail end of these lock downs which we've never experienced before so you literally had months sprint where people were not allowed to leave their homes and felt like there was already a certain amount of government overreach and government control being pushed on to them then you see the protests that taking place now what's fascinating about this is that the people who are calling to go ahead and buy guns come from both sides there are protesters who say we need to be armed because drums talking about sit in the national guard to stop us and then you have people on the other side who say hey police right now there's talk of defunding policing getting rid of police do protesters think they're going to come to my home and destroy my home and so you have both sides literally arming themselves because no one is sure where the actual order in society comes from and whenever there is fear of a lack of order in society more people say then i will have to create order on my own no ben there was a time when the gun lobby and specifically the national rifle association what kind of stoke sales as these types of situations would happen when you would see a mass shooting or when you would see not necessarily pandemic of a social unrest you would see these kind of but it appears over the last few years and i want to say specifically since the shooting at the moment douglas high school in florida they've kind of been very very quiet why is that. yeah i think there's a couple of reasons for that were i mentioned in the piece of the last time we saw this major surge in sales would go back to 2013 president obama was reelected the sandy hook shooting took place and then there was talk at that time of banning eyre 15 rifles and we saw this huge surge in gun purchases and ammo purchases because people were rushing out to go ahead and buy these weapons before they became illegal because it was also said don't worry will ban new purchases anything that you already own is alread

now to discuss our. ben swan and christy i ben i want to actually start with you here how big of a push was this give kryptos currencies like bitcoin. yeah if you want to know how big it's going to be goes back to right now when you had a little bit of a pause there when you almost said 300000 had to correct it 300000000 users using pay-pal worldwide that's how big this is on we're talking about the ability for pay pal to reach into audiences that that where big coing and alternative coins have never been before just to give you an example of how big we're talking about you know coinbase is probably the most famous exchange in the united states for big coin they have about 11000000 users 11000000 on coinbase buy nance which christie is very familiar with knows the guys over there by nancy very well they're the largest in the world they have about 15000000 users so when you're talking about a company a behemoth company like possibly stepping into this space and introducing about 305000000 users to cryptocurrency it's a very big deal the real i think issue is whether or not it's just because or which alternati

our values and principles of trust and transparency joining us now to discuss this is boom bust co-hosted investigative journalist ben swan. ben i.b.m. stock obvious take a hit today after this announcement why is that. yes so i.b.m. was down about 4 points today it looked at the end of the day i.b.m. made the right decision and they they're paying at least a short term price for it but i absolutely think it was the right decision essentially coming out and saying look facial recognition technology can be and will be used and abused in the future and so we don't want to be a part of that as a company we don't want to contribute to essentially profiling certain groups using mass surveillance on the public i hope that i.b.m. as they do this will stand firm in what they're doing but investors obviously were not thrilled about it because let's face it recognition is a huge part of the tech industry and moving forward it's going to continue to be a huge part of not only the tech industry but military use and law enforcement and i.b.m. it's spend so much time and money with their technology which is a huge portion of facial recognit

ben swan and host of eating the press steve malzberg ben i'll start with you now you and i have discussed this many times the question of is facebook a platform or a publisher is up leaving trump's post up where does that land them on this question now. well if it doesn't do anything to change their status as not a platform and yes acting as an editorial publisher just because mark zuckerberg is the side of that in this one rare instance he will not remove the comment from the president which by the way i don't think you should. does not mean that he is now ok we see we've taken care of this we're just a platform not a publisher because the problem is that baseball does moderate and editorialize on lots of other pages in fact what this does is it goes to even further prove that point that zuckerberg has a small team of people by the way which he left to their little v.p. of content out of the discussion and instead focused on the c.e.o. osho will samberg and zucker berger just like 3 or 4 people who made this decision unilaterally that's an editorial decision they decided that in this case they would leave it up with other cases other posts would have been taken down yeah and as a side note gentlemen this just happened to me just moments ago and we know instagram was bought by facebook and i posted up just moments ago a photo wearing a face mask that scottie nell hughes so graciously gifted to me and said to me i took a photo saying you know thank you for my face mask you know my you've added color to my kopek life and they have chosen to add a link to the cd see for information about coven. so you like like i said whatever you post if you put a post that has coded in it automatically link it to the c.d.c. to give you correct information right right so i find that fascinating that that's happening right now now we're talking about zuckerberg and steve i think we can both agree that this is a good thing for the 1st amendment that zuck is is being bold enough to do this but he is getting a lot of hate from his own rank and file in silicon valley they say he's glorifying violence do you think he's going to buckle under the pressure. i think it will keep it this way until the trump administration should be voted out of office and if the senate should go democrat then he has free reign to do what he wants well on the eve of donald trump senate signing the executive order last week i was interviewed and in a couple of places and he stated that i don't think political speech should be regulated i think political speech should be heard i almost fell off my chair because all you've been hearing about is this supreme court of his that he's appointed to do just that to all kinds of speech to regulate it but he backed off in contrast to twitter who doubled down and mocked the president on and on voter fraud in flag didn't and they've done more against him in this week that they took down that the burglar left up so i think tweet twitter and facebook are going in opposite directions so dumb like a fox he is on the left and as soon as he sees it's ok he'll go back to censoring everything well at the moment give credit where credit is due write and say something short of the real quick well twitter is actually kind of spinning in circles right now where they're trying to now clarify that or we're not fact checking anything in fact on the president's tweet that they did take down they're now saying that we context check we're just checking the context the statement because here's what's happening is that both facebook and twitter and google they're all freaking out right now over this executive order from the president that essentially says that they have been in violation about $230.00 protection and because of that they're all terrified if they lose that those social media companies are done and that's why they're all running in circles right now. on on that note a leaked recording out of zach's meeting is now readily available to the general public if they want to look that up it turns out that trump actually called zuckerberg directly after the facebook team reached out to the white house to discuss with them their terms of service so how much of this of this decision do you think is based on trump calling him directly. i don't think it's based on that i really think it is based on this fear right now that they are going to be seen as editorializing and acting as a publisher is not a platform the problem is is that zuckerberg got in front of congress last year and said testified saying that they are a publisher and they act as a publisher he's already said it jack dorsey the same thing the problem is is that they can't turn around and now pretend that they are not they were gone too far and so everyone's everyone's terrified of what this means but you want to talk about this for now 2 years 3 years when a lot needs to happen that shield needs to go away and steve this this one isn't so much about facebook as it is about twitter since we're bringing that up but we have seen these large tech companies sort of toeing the liberal line that's no secret but as users continue to move away from facebook or twitter or various other mediums and in this case conservatives are leaving twitter for parlor do you think that that is also forcing zuckerberg to reconsider censoring conservative voices and meanwhile we should add by the way snap chat has also just announced it would remove president trump from its discover tab accusing him of promoting racial violence and injustice in tweeting about rioters outside of the white house so do you think this is playing into how they're arriving at this decision. i don't think and i could be wrong because the expert on this i don't think zuckerberg is fearing or twitters fearing losing conservatives i think they would be very much happier in their employees are you much happier without it and ribs are better and all i mean today the president today that for barack obama said make people in power uncomfortable in the context of everything that's going on twitter might be wise to say hey that's that's urging violence that's how i would interpret it. you have now you have them going after trouble because he says he wants law and order you know what ever most americans want law and order. there's nothing racist about that or feel about that twitter's picked a war based books to lay their war they couldn't care less about conservatives if they all disappeared and last word on all of this what i would push back on is i think they do care about conservatives more than they pretend to they want to control the narrative and the problem is that competition in a free market is what they spoke and twitter fear the most competition is coming to them and conservatives make up a huge number of people on facebook in terms of communicating that way if they go someplace else it will devastate facebook like an exactly because the kids are all moving to the tick tock guys they're not here and scram anymore there is a god and that like all right gentlemen we'll leave it right there ben swan steve malzberg thank you for a fun talk today. thank you. all right let's head over to the sports h.q. regina hamm is there we're going to m.l.s. is one of 2 leagues here in the u.s. that has a plan to get the ball rolling it's all puns intended right because just days ago it seemed major league soccer is on the verge of a lockout with its players over the collective bargaining agreement effectively putting bosh on the season now soccer fans can breathe a sigh of relief at the m.l.s. p.a. approved the league's offer players' association agreed to a deal that dealt with economics and you collective bargaining agreement total economic concessions about $100000000.00 and include across the board salary cuts of 7.5 percent in order to soften the blow to league financially unless suspended season on march 12th due to the coronavirus demick many teams just played 2 games players are now allowed to start preparing for the season to resume at some point this summer with the tournament fl

price of just $1.00 pound joining us now to discuss it with us both investigative journalist ben swan. i know it's where to start after that last statement there ben let's start with the data what kind of debt are we actually talking about here yes so essentially we're talking about everything that you would want if you were debt a collection company we're talking about personal contact details gender race occupation physical status health status mental health status past criminal offenses basically everything that the british government has on its citizens it's handing over to this company and what's really remarkable about it is that this company is allowed to train using this information and they're allowed to profit off of it by building models and building private web and data tools using this personal information belonging to millions of british that is. as we just mentioned there in the set up access this information was sold for one british pound one pound. i don't have and i have a question why what yeah i mean when you when you break that down for american viewers who are watching that that's a $1.27 that's what we're talking about a tec

point 5 percent to $18.17 well joining me now to discuss them both co-host and investigative journalist ben swan and peter schiff c.e.o. of euro pacific capital. ben or peter i'm sorry let's start with you let me ask you how much of the slowing of this gold and silver prices is due to the easing of the coronavirus restrictions and not just in the united states but globally. well i don't think it really relates that at all i think what we have had is a rally in global stock markets we've also seen a bit of a sell off in the dollar and some of the other safe haven currencies like the japanese yen and the swiss franc and i think that the gold got caught up in that a little bit as well as enthusiasm for the u.s. stock market but remember the only reason the u.s. stock market is going up is because of the fed we have bad economic news now we have the riots the looting which is making a bad economy worse and so the worse the economy gets the more money the federal reserve prints and so the more stocks investors want to buy but when the fed is creating inflation you're better off buying gold in the s. and p. $500.00 and we're looking at a possibility of

break through the $10000.00 resistance joining us now to discuss these bring back boom bust co-host christiane and we also have boom bust co-hosts ben swan ben i want to actually start with you in this conversation why is a big point able to break through that barrier. yes kind of a tough question because i think there's a lot of kind of psychological pressure that prevents big one from getting over that but there are 3 things in particular that seem to affect it one of them is the federal reserve you know that federal open market committee meeting that was held on wednesday and when you did those meetings it seems like every time they come to an end there's a little bit of a dip for big point as well as the stock market christine loves to use the term when he talks about buying the rumor and selling the news and i think with big point it seems like as of late we see a lot of selling the news every time there's another announcement we see that that number just dropped just by just a little bit for bit quite so that's part of it and then part of it also is the issue of the kind of this continued resilience it goes back to 2019 we've seen this

joining us now to discuss is a boom bust co-host on the particular maternalistic ben swan and editorial director for the american institute for economic research geoffrey tucker good to have you today ben let's begin with you give us a rundown of what this new national security law includes. yaz is kind of typical with these kinds of things the language is relatively vague and leaves a lot open to interpretation but essentially it criminalizes and i want to quote here session this subversive and terrorist activities in hong kong as well as acts of collusion with foreign forces that in danger national security now when you take a look at some of that wording secession a subversive and terrorist you can make a whole lot of things fit into those categories in terms of protests people speaking out even free speech on any level could be on some levels described as these things because these are very relative terms and then in terms of working with foreign forces does that mean when groups like the united states come in and try to promote those pro-democracy movements now we can have a debate over whether or not that's a good thing or not for the u.s. to be doing but are those acts now crimi