connection, the fiat crypto connection between the dollar and by encrypt currencies like bitcoin.make it very, very difficult if not impossible for people to transfer their money from one to the other. rob: john, you had a point you wanted to make? >> as i said, technology routes around damage. if we are worried someone is going to shut down our fiat gateway to the dollar or anything else, there is always going to be somebody floating around who's going to do the deal with you, whether legal or illegal. and i suspected vast majority of banks are going to push back against this because they know where their money is going to be made in the future. the money's not going to be made in human advising, it is going to be robo advising, people into meme stocks, that is where the money is going to come from. if enough money is thrown at this problem, the u.s. government or any government will have no control, which is what we start recently when the you -- when the eu went to basically ban general-purpose wallets, which wasn't true, but it's given of people to make the price of bitcoin mo

i am interested in what you think is going on in terms of fiat currency.ld you say it is having a midlife crisis? printing too much of it, erosion of the dollar? what is it you see? zvi: i think it is a combination of printing too much and money not getting spent. in the 1970's -- katie referenced stagflation -- the central banks printed too much money and that resulted in inflation. the last 30 years, central banks have printed vast amounts of money and it has not caused inflation. there has been a little the last couple of months, but the amount of money printed the last 30 years is staggering. it has increased from $1 trillion in 2008 to $6 trillion, so it has gone up 500%. spending on goods and services has only gone up 50%. 13 years ago each dollar was spent about 10 times a year. it was paid as a salary and spent on goods and services 10 times a year. now it is only about once a year. when i called the book money going out of style, i was referencing the fact that in the last decade plus, money is just not being spent. katie: i want to bring it back

it is an alternative to fiat currencies, including the u.s. dollar. is a diversifier and a store of value. i like it for people who are extremely poor and un-banked. a great example is what happens in el salvador they declared bitcoin to be legal tender. they did it because people sending money home to a relative were paying fees associated with using western union. that money is carried in a way that subjected to that by a heavy-handed criminal element in el salvador. these people who are on banked canned transact with no fee and in much more safety. it is good for people who are extremely poor. and it is a good diversifier. i think it has some characteristics that will make it catch on even more for people to be safe. joe: a lot of people aware that cash will go away. we will have to use a corporate network. that we are at the whim of corporation that get to send money. how much do you think that is important for u.s. laws to have that? >> i think it is really important. that is one of the concerns we have. that it will be used by the chinese commun

we want to make sure that if stable coin becomes the standard on the fiat. and the non-fiat currency world can grow. and interface. they will have the best of both words. it will allow the nonbanks to participate in the economy. just as we have seen people in el salvador do. it will also allow people to use value. i am optimistic. i think there is so much energy and excitement and innovation in the space. it is almost like with the internet first started, we are seeing exponential growth. and, i am very excited about the space. i think there is a lot to commend in a very positive future in the united states. >> i just want to add, i think the most exciting potential in this whole space are going to be the apps we have not thought of yet. the fact that a mechanism has been invented to validate transactions through a distributed ledger mechanism is going to change whole industries. i think it is too powerful for even someone if they were inclined to try to stop it, it is going to be too powerful to stop. and it would be a bad idea to try. reporter: if this ame

we, in the fiat world, as the crypto people like to say.interesting how stable currencies have been. you look at jp morgan real effect exchange rate index for the u.s. dollar from 1970 to now, 50 years including the fiat period it is down, half a percent per year. that is some devaluation but not anything like people might think. he removed an anchor from the dollar and it's going to crash. negative half a percent, i will take it. tom: let's talk about hollowed ground. 82 devonshire on the chart room. you look at the chart room of fidelity. that was founded on that johnson, john templeton and john vogel and the rest. their long-term optimism of equity investment. the gloom crew has been wrong for 20, 30, 40 years. do you see any amendment to that optimism? jurrien: i do not. i study charts. i study history. i look at secular regimes. if you take the s&p or whatever you can call the index before the s&p existed from 1780 or so until now on a total return basis, it's about 6.5%. the nominal is about 10% to 11%. there are large swings and draw

i've never quite gotten gold i thought part of the story was to gold was fiat currencies and spendingl, that would be a bid for gold. that same story applies to bit coin as well i think that's part of what's happening in bitcoin and i think that institutional adoption of bitcoin is continuing. even with the volatility, this is up from 29,000 maybe three weeks ago. i think bitcoin is slowly replacing that -- it's the digital gold head. >> all right karen, thank you very much >>> it's already that time time for your final trades on a friday steve grasso, kick it off. >> i'm going to go with diversified chemical space tse. i think investors misherd what the company reported i think you get a bargain basement price right here. >> carter. >> i think you took advantage of the sell off in gold >> peleton looks a little weak i'd wait before stepping back in >> karen >> viacom. i like those earnings yesterday. >> good stuff. thank you. stat does it for this hour of fa money options action is next followed by special 6:00 p.m. hour we'll see you right after this >>> welcome to options action. i

weight now they have to realize they cannot afford a ferrari so they have to look forward to having fiatstead. >> in this window, they have signed lionel messi and other captains. all on free transfers. messy will cost and other waste. his contract is 41 million dollars per year for two years with an option for a third. good timing when francis restrictions come into force. >> football is a magic sport. even if you have the best players, it doesn't mean you're going to win. this is for me the best of the history óo (sophie fouron) we're in the land of gods here. it sure looks likes it, anyways. it's the birthplace of greek mythology. apparently, zeus was born here, in crete. and the gods have been very generous to their land. you can find pretty much everything and anything on this island. they are wild herbs, flowers, fruits, vegetables everywhere. there are more sheep here than human beings. they can live off their land. they still have a very strong culture, very strong traditions. and here, they say they're cretans before they say they're greeks. and people either come from the mounta

once you go down that road, there is no logic to it except fiat.to accept it or you are racist. otherwise explain logic. >> will: that's the end result fiat and power is the result. always good to hear from you victor davis hanson thank you for your time. >> thanks. >> will: don't go anywhere johnny joey jones triple j he is here. we are putting him on the clock. ♪ ♪ that's why i started medhaul. citi launched the impact fund to invest in both women and entrepreneurs of color like me, so i can realize my vision and give everything i've got to my company, and my community. i got you. for the love of people. for the love of community. for the love of progress. citi. (vo) at t-mobile for business, unconventional thinking means we see things differently, so you can focus on what matters most. whether it's ensuring food arrives as fresh as when it departs. being first on the scene, when every second counts. or teaching biology without a lab. we are the leader in 5g. #1 in customer satisfaction. and a partner who includes 5g in every plan, so you get it

decoupled itself from the gold standard, it allowed for the free printing of money, of fiat currency. we have seen in a norm is increased in the amount of money -- an enormous increase in the amount of money the fed has created over those decades. in the last crisis, they did create money. here is where -- what i think is important. if you have a crisis as you had in 2007 and in the pandemic, it is reasonable for the central bank to provide liquidity because the markets freeze up. you cannot buy or sell -- to provide liquidity to get the market moving again. that is good. the problem is that folks in the -- both in the crisis following 2008 and in this crisis with the pandemic, the federal rese >> widgets live every day at 7:00 a.m. eastern. you can watch this segment at c-span and more. >> thank you for joining us for our headliners event with air force chief of staff chief -- chief of staff, general charles

what you do when you put out the fiat is, you make the word treasured. you make it special material to be brought out when nobody is looking. and so, to me, i mean, call me conservative. i'm very conservative about the n-word. i think 1990 was great. back then, you didn't wield the word, but you could use the word to refer to it. usually, what you were about to do was critice it, but you could say it. and i remember countless very ordinary conversations where nobody flinched when a white person said that word. the way it's gotten over the past 20 in particular, where you can't even utter it because it's a magic taboo word, i think that the ultimate result is that a great deal of energy is expended witch-hunting against the person who uttered the word or wrote the word that could be spent in creating real change in society. the language policing, frankly, is fun. a t of people are having fun doing that. it's as fun as "nh-nyah-nyah-nyah-nyah!" but there are people hurting. we have some changes we need to make in this society. so, for me, the n-word -- i t

the dixie fiat now covers more than 1700 square kilometers, making it the 3rd largest in the state history. it's mainly burned remote areas so far, but it has now destroyed more than $100.00 homes and it's threatening many more. so let's speak to john henry. he's in the northern california town of quincy. and so john, tell us what is happening around you. we understand that the fire has grown in size of the night. it has indeed, and it's grown dramatically. it was in fact, the single largest day of growth that the dixie fire has seen, and that makes it about 14 times this size of the city of san francisco. there have been other towns that have been taken over, including the town of canyon dam. but a lot of it is agriculture of well is wildlife area and in the last, in national forest is growing north and west. so this fire is become just enormous . it is the biggest one in california, the biggest one in the united states right now. it has just eclipse of fire in oregon, the bootleg fire and is now the largest fire going and it seems largely out of control. it's about 35 percent contained.

they are trying to get things done by if i aught at the fed -- by fiat at the federal level. like i said, it may not affect you. you may not a landlord and you may not care. but this is the beginning of a dangerous precedent. if this continues we'll see significant unrest. hundreds and thousands of people contacted me about these vaccine mandates. they are debts pratt to be able to control their own bodies and their own lives. and the government is taking that away from them. we can't let this proceed. katie: it's a battle and we'll certainly continue to follow it. thank you for your expertise and insight. another story we are following is the mixed messaging on the covid surge. this week it took a bizarre turn. this what the nih director said tuesday. >> the recommendations are for kids under 12 that they avoid being in places where they might get infected which means recommendations of mask wearing in schools and at home. parents of unvaccinated kids should be thoughtful about this and the recommendation is to wear masks there as well. katie: he since walked back those comm

stellantis, it�*s brands include fiat, chrysler and peugeot, is reporting today, as is bmw. how the car making sector is doing as we start to exit the pandemic. it�*s widely reported the biggest issue is a shortage of the semi—conductor chips, but this is seen as a temporary problem. the main challenge is the electrification of the industry as governments set limits for the end of petrol and diesel cars. jim holderjoins us editorial director, what car? and autocar. good morning to you. nice to see you again. which will be the standout, do you think? i think you are probably looking to the premium brands, brands like the megawatts, for the merely standout figures. but i think overall we are seeing a positive trend despite the massive headwinds they have been facing into. 0bviously they have had 18 months to forget and the chip crisis is actually another low in the perfect storm but they seem to be managing their stock incredibly well. running it down because they are building and it is being billed because of this chip shortage, they are focusing on the margin. the underlying

when the decision was announced months ago i said a fiat we would come to regret this decision and we killed five people. the nhs warns that tens of thousands of people are risking their lives in england because they're unable to spot the first warning signs of cancer. now on bbc news... dateline london

the fiat attack happened. into the hospital, that might be fiat attack happened. hospital, go the victims. this man was there. translation: i saw at least 400 people _ was there. translation: i saw at least 400 people there. _ was there. translation: i saw at least 400 people there. the - was there. translation: i saw at - least 400 people there. the exposure least a00 people there. the exposure was powerful, people held into the water, others outside. we currently wounded on stretchers here. my clothes are completely blooded. the wounded shoved into wheelbarrows. the afghans who were hoping to be on an aeroplane today, flying out to a safer place. this country's endless war shattered that dream. the islamic state group is believed to done it. earlier today in this gathering storm and the growing clamour to board a flight. this is the centre of kabul, the people desperate to find ways to get to that airport. desperate to find ways to get to that airport-— that airport. security guard with the british people. _ that airport. security guard with the british people.

bipul: cryptocurrency liberates money from fiat currency and makes it available to anybody around thethe side effect of cryptocurrency and the privacy that comes with it is that bad guys are using it to get money anonymously and get money transferred. the thing is that, as we innovate and bring new services online, bad guys are finding new services to make use of further own purposes. we need to have a strong security framework around how we use application and how we use data. the traditional mechanism of prevention is not very effective. so people have to really think about inside-out security -- is my data and applications protected inside out -- so you can utilize all kinds of technology, including crypto, to really protect your core ip, which is data and apps. emily: we will continue to follow and cover this story as a tax pop-up. rubrik ceo bipul sinha, and microsoft's john thompson, thank you for joining us. coming up fashion designer's , appeal to the modern consumer in a new way. joining me next, stoxx ceo is here to talk about streetwear and collectible trends. this is bloom

whenever you go from a cryptocurrency to a fiat currency, there is a name and social security number and address identified with that transaction because these cryptocurrency exchanges are registered as money service businesses. law enforcement likes it when criminals use bitcoin because it is much easier to track down the flow of the money and find the bad guys on the other end that are perpetrating the crime. host: that was one of the concerns that gary gensler wrote in a letter to elizabeth warren. right now we do not have enough investment protection in crypto. at this time it is more like the wild west. this asset class is right with fraud and abuse. in many cases investors are not able to get rigorous, complete information. i worry a lot of people will be hurt. as far as rife with fraud, scams, interviews, how do you react to that? guest: i think that is not the case. it was the case in 2017 that there was a period of fraud where people were trying to take advantage of investors, but the sec cracked down on that. what we are left with today are the good actors that are building

tom: david wilson is looking at the fusion-io are renault, he is looking at the fiat of charts.ear coming up on the 50th anniversary of president nixon's decision to break the tie between gold and the dollar. tom: remember that? people were screaming. david: the question is what has happened to gold over that 50-year timeframe? how does it compare to stocks? with the chart does is look at spot gold, immediate delivery relative to the s&p 500 with and without dividends. you get a very different comparison based on what you do with the s&p 500. if you look at just the index itself, gold has been pretty competitive. you find stretches for years or gold had bigger gains. and you put dividends into the equation and it is not even close. you are talking about the s&p 500 generating almost 20,000% return. up to hundredfold. more than three quarters of that is dividends. stocks are a runaway relative to gold over that timeframe. tom: in my book years ago the best charts was from the world bank. it was such a strong chart. it was deflation is over. the idea of the dynamics of currencies

why not also cryptocurrency to fiat currency translating?ve the platform to do that and we save some interest. as long as it is in a regulated environment, we are ready to serve any current the in the right way as we do today. haidi: does that mean more tieups and integration with services like coinbase and crypto wallet? hikmet: we have the platform. we are serving the only cryptocurrency, we are serving also banks. one of our strongest growth areas is white labeling which means we are replacing the current system with our platform because the banking system is not easy to use it. it takes long days for the money somewhere in the world with our plan on, really serving the bank but also other financial institutions. also cryptocurrency institutions to serve customers in a way that is convenient for everyone. shery: through the romans close that you see, can you regain through the openings and economic recoveries are happening right now? hikmet: yes, we do. great question. obviously, we see a strong growth rate in the areas where the western

if you are working with rules for kyc, and cards that give you access to the fiat system and centralyou need clarity and there is not so much regulatory clarity. while we would love to innovate in that space, we need more clarity from regulators. brazil, colombia. we even see it in the u.s., driven by the u.s. senate. shery: how is the regulatory landscape when it comes to just to simtech, not only in argentina, but the rest of the region? pierpaolo: that is a great question. over the last five years, regulators have realized that the future of the economy is digital. we cannot have societies where 50% of people have access to financial services and 50% do not. otherwise, we asked people to give them -- believe in democracy and capitalism but then do not give them an account. regulators where there is a new regime from the central bank and even chile, a country historically closed, are all opening up because politicians from the right wing and the left wing all love financial inclusion so we welcome that because we think that technology gives us a possibility of cutting around 80% to

levels few people understand, but there's also people who think this is going to eventually replace fiaturrencies. i don't know if a digital dollar is going to be a discussion at the virtual jackson hole, but if that conversation accelerates, does that make the case for a deteriorating bitcoin? eddie: yeah, i think that is to a very hard case to make. going is still nowhere near replacing the dollar. it is not really making inroads in the real payment economy. there are places you can pay with bitcoin, but few people choose to do so. bitcoin is still purely a speculative asset. what is happening more is in the ethereum space and other cryptocurrencies, where we are seeing real innovation happening. tom: let me go back to first principles. the game of this is there will be 21 million bitcoins. right now, there's 18 million plus. i really don't know what the numbers -- folks, it is monday. i am making it up. what happens when we get to 21 million bitcoins mined? eddie: it is a long way in the future, but what we are seeing in other cryptocurrencies, we see that they move away from an algor

it was one of the key hedges for inflation because it was supposedly going to retain its value as fiat its inherent value on the same level. you wonder whether that dynamic has been forever altered. when you talk to strategist, is that the case? has there been a divorcing between the idea of gold as an inflation hedge and the reality which is stocks long all the way? dave: there is certainly that kind of thoughts you will find at this point, given what we have seen stoxx do, especially this year as inflation has been picking up. gold and other precious metals have not. if you are looking for that kind of a hedge, you have an alternative and cryptocurrencies that you didn't have several years back, so that may well be influencing the equation for gold as well. tom: jon kyl up -- jon golub takes earnings out to another $250 a share for 2023. are you seeing a lot of people recalibrate after the earnings season? dave: there is certainly optimism around. what is striking to me is you are getting those kind of multi-year forecasts earlier than you ordinarily would. go his outlub --golub is o

fiat chrysler is out with a hot pink jeep wrangler. the new color is part of the brand's 80th anniversary celebration. it is only available for a limited time. reggie: i like it. jobina: me too. it is giving me something like a britney spears music video. reggie: you just took me back to that. i'll be playing that during the commercial break. we are already paying some of the highest prices in the country. coming up, what could drive up gas prices even more over the next few days. jobina: also the popular u.s. tourist destination now requiring vaccines or a negative covid test. reggie: a very big pet cat, hidden away in a new york city home. how the owner of this ♪ come on, get your motor running ♪ you just head out on the highway ♪ looking for some tchotchkes ♪ and whatever comes our way ♪ yeah darlin, go make it happen mí amor, take the world in a love embrace ride all of your love at once and explode into space... ♪ born to be wild ♪ start your california road trip and visitcalifornia.com >> building a better bay area, moving forwar

to explain and why you think they are important and why you think they are better as you say than a fiat they are not better at all things but definitely better for payments let me backtrack to make sure i take the time to do this right you have different types of cryptocurrencies leading the pack is bitcoin, which i see more of as an investment asset but not agrea medium of exchange yet other coins which are highly volatile the problem is that they are not good medium of exchange because you have to make sure that the value of the asset you use or currency you use is really, really stable. stable coins were created. they are not all equal for every dollar someone purchases you have a reserve one for one backing that dollar. the call of those reserves change depending on what stable coins you use. for the very, very high quality ones, i would argue that they are safer or more stable than any existing wallet on fiat that are not as safe but are one for one backed and to some extent, bank accounts that have a fdic backing. so stable coins are stable they keep a value. in the case of a lot

charles: by the way they did a lot of fraud, they have done a lot of fraud with old school fiat moneyor the whole show. i want to bring you back. this crypto thing has found its footing. i appreciate you because you're one of the best. folks we'll be right back. (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. charles: you know, calls for the death of the department store go back at least two decades right? the death of the mall, that's been around maybe a little less longer, i mean there's no doubt of course there's been upheaval many iconic names have gone out of business in fact a lot of that though due to creative disruption in the industry and more recently yes, online shopping trends but for those names that have survived things are looking up big time. this morning we got earnings from macy's and kohl's, macy's announced $500 million in buybacks and kohl's by the way raised their four year guidance to $6.10 on earnings from 4.20 by the way they buyback as much as 700 million of their own sto

party and there's some democrats that are saying to the white house simply extend it by administrative fiat then see if there is a legal challenge. this white house does not appear to want to do that at this point, although they didn't remove that from the options, as they are trying to pursue some legal remedy, some authority, some power through the executive branch to try to extend the moratorium. short of that, they are saying to states and local communities speed up the process of what was really a new bureaucracy to try to administer the funds that have already been approved by congress, billions of dollars, most of which has not gone out to the renters and landlords who could be made whole with the relief that's already been passed. one of the problems there is the paperwork, the manpower and so forth and really just the gears of government at the state and local level that have not been working. the white house has gotten criticism for not acting quickly enough, waiting until the 11th hour to deal with this. congress the house is out of town, the senate is in town, but there isn't an

and it does take more time than talk down, you know, a sort of leadership by fiat, but it's far more effective over time. and far more satisfying for everybody involved. >> thank you. it's been a fascinating hour, i really appreciate your time. if we were meeting in person i'd hold up your book, but i only have it on my kindle so i can't hold it up. but it's, as i said, it's almost an encyclopedia. i think there are individual chapters i'll go back and read when thee things are in the news. and it's a valuable resource. thank you for you time and look forward to your next act. >> thank you very much. weekends on c-span2 are an intellectual feast. america's tv with america's stories. books tv brings you the latest nonfiction books and authors. ... conflict" into the search box at the top of the page. >> it's my >> is my distinct pleasure to welcome t

>> it's a fiat 500. >> well, i know it's a car. i know what kind of car it is. thought here? what is this? >> it's a mobile promotional vehicle. it's a way to test the retail theory and see how many people actually want to buy mochi ice cream and mr. green tea products in new york. really low operating cost. we can get about between 650 and 700 mochi in this freezer. out the door car, graphics, and the freezer was 18,500. >> $18,000? how many mochi do we have to sell to pay for this? >> uh, i do have numbers. i do have numbers. >> okay. >> they're in my head. >> [laughs] that doesn't-- i was really caught off guard when michael went out and made this extravagant purchase without anybody's permission. it's a bold move, but it's impossible to determine if it's a good return unless you run the numbers. >> you know, you just can't keep all these numbers in your head and think that everyone could read what you're thinking. >> why can't you trust that i know what i'm doing? >> because i could have spent that 18,000 five other ways. >> michael, the word that comes to m

the cryptocurrency is treated at the point of transaction if the company immediately converts it to fiatl of a propertybecause bitcoin is considered a property here in the u.s. and if your cryptocurrency is appreciated in value since you first bought it, then you are subject to capital gains tax i reached out to the company and i asked them whether or not they plan to do that or if they are going to accept bitcoin and hold it on their balance sheet, and i haven't heard back yet >> that would be an interesting case if they held it still, you would think that would be a transfer anyhow, illustrating people are going down this road mckenzie, thank you very, very much >>> still ahead democrats are poised to pass a $3.5 trillion pl plan tune in to a special edition of "fast money" next focusing on next generation of innovation and technology "the next" srtattas 6:00 p.m. "the next" srtattas 6:00 p.m. right here on cnbc being first on the scene, when every second counts. or teaching biology without a lab. we are the leader in 5g. #1 in customer satisfaction. and a partner who includes 5g in ev

down less, and it is less than a headache, and more joyful to drive, and that is what gm and ford and fiat chrysler are trying to get ahead of, and much easier said than doechblt -- than done. >> and phil, talk about the current day, because there is a current shortage of vehicles, and anybody who has tried to buy a car or rent-a-car or lease a car knows that there is not the inventory there, and thousands of new cars waiting for the missing semiconductor chips, so any indication when the supply chains will catch up? >> it is going to take some time. in fact, if you are listening to all of the ceos of the big three, and the supplier, everybody in the auto industry says the same thing, a tight supply of the semiconductors through this year, and the first half of next year which means the smaller number of vehicles produced than originally produce and that means tighter prices at the dealerships, and the prices are high for new as well as for used. >> robin, i understand that we have problems with the shot, but we can still hear you, so i want to give you the last word on this. you have the

when the decision was announced months ago i said a fiat we would come to regret this decision and we already are, this is a nightmare. the plymouth shootings — devon and cornwall police face an investigation over the decision to return a shotgun licence to the man who killed five people. the nhs warns that tens of thousands of people are risking their lives in england because they're unable to spot the first warning signs of cancer. now on bbc news... dateline london hello and welcome, this is dateline london, the only programme to bring together bbc specialists with foreign correspondence who write from here. it is an outsiders perspective around the uk and the world. as the return of the taliban and other worlds leaders willing to stop it getting worse and andrew cuomo resigns, with me to discuss it are writers for bloomberg and bbc corresponded clive. the taliban are in controljust corresponded clive. the taliban are in control just 45 corresponded clive. the taliban are in controljust 45 miles south of kabul, the regional warlords and militia groups to whom the president has turn

auditorium exceeded powers delegated to it by congress creating economic policy through executive fiatged upon the fundamental constitutional right and eroded private property rights diminished contracts and upon the sovereignty of states by interfering with the jurisdictions of their courts we must be vigilant to not use the covid crisis as an excuse to further erode the rule of law and federalism and fundamental constitutional rights. if anyone's property rights is neither aggressive nor fair but what is an unconstitutional and unlawful is criminalizing access to the courts enforcing property owners to relinquish the rights. thank you. >> thank you mr. griffith. now each member will have five minutes for questions the chair recognizes himself for five minutes. i am particularly interested in the outreach part of your testimony. and i suspect from your projection from we plan to go in the future basically with past experience, will you share with us the hard to reach the you have experienced? and that would be helpful to the rest of us for what we need to plan for. >> so the outreach

whenever you go from a cryptocurrency to a fiat currency, there is a name and social security numberddress identified with that transaction because these cryptocurrency exchanges are registered as money service businesses. law enforcement likes it when criminals use bitcoin because it is much easier to track down the flow of the money and find the bad guys on the other end that are perpetrating the crime. host: that was one of the concerns that gary gensler wrote in a letter to elizabeth warren. right now we do not have enough investment protection in crypto. at this time it is more like the wild west. this asset class is right with fraud and abuse. in many cases investors are not able to get rigorous, complete information. i worry a lot of people will be hurt. as far as rife with fraud, scams, interviews, how do you react to that? guest: i think that is not the case. it was the case in 2017 that there was a period of fraud where people were trying to take advantage of investors, but the sec cracked down on that. what we are left with today are the good actors that are building usefu

many fiat these extreme scenes will become more commonplace as a climate change is. —— many fear.ommitment to pay back their customers' losses. last month, our reporter jon ironmonger recorded a conversation with a scam caller, which revealed the lengths that some were prepared to go to. he's been speaking to two of their many victims. since my little chat with the now infamous mr richard jones, loads of people have told us that they have been hit by the same sort of scam that starts with a text or an e—mail asking for your personal details, follow—up call from a spoof number and a man who claims to be calling from the fraud department your bank. these scammers trick people like georgia to move their money to another account. not one part of me on the entire time i was on the phone to them and thought this could be a scam. they were so convincing. and ifind myself now, every time my phone goes off with a number i don't recognise, i pick it up like i am expecting them. remember, we will never ask you to transfer money to another account for safekeeping. so—called authorised push pa

essentially digital gold, and so if you look at just the power of it because if you look at just major fiatn effect all of the other countries throughout the world they don't have as powerful of a currency as maybe those three currencies, and maybe a few others, and so i think we're going to see the landscape of the way money works change because it's going to become way more of a world economy because you know as we can pick-up the phone and caulk to any single person in the entire world instantaneously through the internet and now we're able to do the same with money so it's going to be interesting to see what happens. neil: what do you and how do you advice then, grant, guys who want to be like you, you were brave doing this when no one was to your credit but there are a lot of people that say oh, i can do what grant did. what do you tell them and how much money for one of the better term risk, but how you play this >> yeah, absolutely. so, for anybody that's trying to do it i would say number one, bet on yourself, two is every single questionrly any answer that you could ever r generati

they've started a substitute their judgment through legislative fiat. to accomplish their goals in sacramento, whereas they may not work in, you know. pick a city. uh my view here is that you have to figure out how to get houses to market. in a timely fashion. let me give you an example. my sisters and i are in the middle of a project. for 1000 acres for 5000 houses. or in the 28 year. trying to process through the entitlement process. sequin needs to be changed so that within the general plan area that a community adopts and which they finalize an e i r on that within that general plan area. you don't have to have redundant gi ours over and over and over again as long as the housing project or the commercial project meets the intention of the general plan. this is fundamentally common sense. you cannot layer on time requirements and expect housing to stay affordable. mayor faulkner to send this one to you here. this is from greg lee, political reporter from ktv. you in san francisco? we already heard on the stage here that the average price of a home i

as more fiat currency is the d valued, bitcoin just sits there as a shining alternative for many people mouth. if you told me i senior year, i would have fallen out of my chair. how the world has changed. ashley: two young kids growing up on the same street, two of the finest products to come out of minnesota. that's what they told me to say. the real ones. you guys are great. great stuff. it is remarkable, grew up on the same street and there on foxbusiness. look at the markets. let's bring in heather who will be joining us for the rest of the hour. you say buckle up for more volatility. is that because of the delta variant? >> the delta variant has a lot to do with that. we are seeing volatility and the spread of cases and a lot of volatility in the marketplace. the meme stocks are that, you can't help but talk about robinhood. if you are not sure what a meme stock is, there's a surge in volume and sudden increases in the stock that have nothing to do with the underlying fundamentals of the company. that happened yesterday, over 12% on the day because of the news they are selling 97 m

especially given all the spending, that we just talked about, earlier today, i am looking for hedges versus fiatg on this jason -- this jackson hole speech from powell in two weeks' time, will that be the beginning of the conversation to pull it back from the fed? >> oh, yeah, i think -- listen, i think especially given last week's payroll number there is going to be pressure on the fed to -- to start tapering, but that is a long wei-wei from tightening, i mean this is just your -- you are just starting to scale back how much you are easing, so you are probably not going to have a meaningful tight forgottening fed probably until late 2022 or 2023. in my opinion puts you know given all the things i just said i have a feeling you are still going to have upward pressure on commodity prices the idea fed going to get tight i still think is a long way away from that, the main focus of the fed, seem to me is mandate is, price statement is collateral not i think on the board right now. anything that is going to come out clearly is going to be transitory, whether is or not, but the goalposts on transitor

is going to go nuts because we're going to debase the currency and spend so much money and destroy fiatto be richer than i am now with these insane proposals which is it or is it both? >> listen i think you're right the government, the fed treasury is playing a really, really dangerous game here buying $120 billion in security as month and moan tieding our debt. do i think our priorities of our government need to shift some? yeah we have a rich-poor gap that's gotten too wide so i would shift priorities but i wouldn't be blowing out deficits i don't think we will in the long run this afghanistan, you know, stumble, debacle, depending what you want to call it, will probably strengthen the republicans hand in the final debate on where this number comes in >> i see what you're saying. i argued a lot of times in the past -- you know me. i think the organic growth from the private-sector is what grows the pie and if you mess that up you're cutting off your nose to spite your face. i think the fed has been so active in our lives because a lot of these policies aren't getting back to what was

last month they disclosed it was backed by fiat currency as well as short-term currencies, et cetera dollar on the website, did you actually verify that yourself did you take the word from the circle >> thank you for that question center, the consortium that oversees u.s. dc has a policy about how u.s. dc can be invested circle complies with that. you can redeem u.s. dc for $1. the spirit of the disclosure was you can always get $1 back. >> that's the spirit, but in case of some sort of -- if everybody wanted to redeem their u.s. dollar coin for one u.s. dollar at the same time, the liquidity might not be there to provide that >> fortunately, there are excess reserves to post if there was a run on u.s. dc and every single person wanted to get their dollar back, then central ensures we have the right held sowe could fulfill it for our customers. >> can you explain that just a little bit can you explain that a little more the reap i think about it, i think of a money market fund a lot of people are thinking in a money market fund you'll get your dollar back you might not get it back. y

whenever you go from a cryptocurrency to a fiat currency, there is a name and social security numberddress identified with that transaction because these cryptocurrency exchanges are registered as money service businesses. law enforcement likes it when criminals use bitcoin because it is much easier to track down the flow of the money and find the bad guys on the other end that are perpetrating the crime. host: that was one of the concerns that gary gensler wrote in a letter to elizabeth warren. right now we do not have enough investment protection in crypto. at this time it is more like the wild west. this asset class is right with fraud and abuse. in many cases investors are not able to get rigorous, complete information. i worry a lot of people will be hurt. as far as rife with fraud, scams, interviews, how do you react to that? guest: i think that is not the case. it was the case in 2017 that there was a period of fraud where people were trying to take advantage of investors, but the sec cracked down on that. what we are left with today are the good actors that are building usefu

decoupled itself from the gold standard, it allowed for the free printing of money, of fiat currency.e have seen in a norm is increased in the amount of money -- an enormous increase in the amount of money the fed has created over those decades. in the last crisis, they did create money. here is where -- what i think is important. if you have a crisis as you had in 2007 and in the pandemic, it is reasonable for the central bank to provide liquidity because the markets freeze up. you cannot buy or sell -- to provide liquidity to get the market moving again. that is good. the problem is that folks in the -- both in the crisis following 2008 and in this crisis with the pandemic, the federal reserve continues its accommodative policies. from 2010 when they did their second quantitative easing, bringing a lot of money, through most of the decade to 2015, their balance sheet went up from $2 trillion to $4 trillion and now it is gone to $8 trillion, it is those. periods were after the crisis that the government continues to buy money, but distort the economic -- distort the economy and reall

unlike fiat currency or crypto the world recognizes the long-term value in holding a portion of youre 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 before th

it is the issuer of fiat currency. we have total control of it. we only borrow and spend in our own currency. we can spend whatever we need to spend in the interest of serving the people. i have said and mr. cole his said as well -- we heard the forecast of doom and gloom because we were running up the deficit and we were going to crowd everything out. what do you know? we increased the national debt. we doubled it in about 12 years. did any of that happened? is our dollar weakened? is -- are our interest rates higher? they are at historic lows. you can make the case that a lot of people who talk about debt and deficits don't know what they are talking about. we can look to somebody like chairman powell at the fair -- fed who said we have the space to do what we need to do. that is what we are proposing to do. we have serious deficits. they are not necessarily financial. they are deficits in our society and we need to do something to get a handle on them. >> i thank you for that. we are investing in people in this budget. we are investing in all t