my first question is on financing conditions.ow long will the ecb president favor low financing conditions to support the recovery? will favorable financial conditions end at the end of the pandemic emergency purchase program? my second question is on pepp. as the coronavirus crisis enters the next phase with the new delta variant but also a better economic outlook and pace of vaccinations, tell us how the governing council intends to judge and assess the end of the covid crisis given that pepp will end when the covid crisis is over? thank you. pres. lagarde: thank you very much. it is very nice to see you as well. this is a significant improvement from previous press conferences. the next step will be to see each other with appropriate distance between us. on the commitment for favorable financing conditions, i will remind you that was decided at our governing council meeting in december. pepp is an emergency program specifically designed for the circumstances we have been facing, that we still face today but are currently impro

capitalism. finance housing, a price is going up and create a socialist economy. so it shows that the destiny of industrial capitalism was really social, isn't supposed to be socialism, but it ended up in finance. capitalism and the world is breaking into 2 parts. us dollar sector, which is finance capitalist and china, russia and the dollar arising economists that are trying to focus on industrialization and raising their own living standards specialist people on it here, a siren in the background. you of course, are in new york and at the classic new york sound in the background. so i, thanks for that little ambience. all right, let's talk about. so china, of course, is launching the belt and wrote initiative which is sounds like what you would describe as goods and services, goods, capitalism, as opposed to pure finance capitalism. and give us an idea of where we are with us in china because the dynamic there and what looks to be a classic 3 cities trap where you've got potentially china rising up as the new dominant world. economic power in the u. s. taking a

but under finance capitalism. it's all about then, as you talk on your show up and then up, it's all about creating and expressing interest and capital gains and income that has nothing to do with trading goods and services for people. so i was asked to write a series of lectures to serve as a textbook for chinese, so that they wouldn't have to be sent to america, to study economics and economics departments and universities. which really isn't about how economies work. it's about textbooks work and it kind of parallel universe as if everybody we're getting rid of the industrial capitalism instead of looking at that and the buyer sector. and what actually happened was under finance, capitalism. and the intention is to show chinese what to avoid. how to avoid the american trap that is shrinking the american economy and loading it so the china can prevent this. monopoly capitalism prevent finance capitalism? finance housing, a price is going up and create a socialist economy. so it shows that the destiny of industri

it was the former ceo of finance u.s. who recently stood down, not finance holdings.move the clip online. taylor: "bloomberg technology" is next in the u.s. romaine: this is bloomberg. ♪ >> from the heart of where innovation, money and power combined in silicon valley and beyond. this is "bloomberg technology" with emily chang. emily: i'm emily chang in san francisco and this is "bloomberg technology." the death toll by covid-19 in the u.s. has surpassed that of the 1918 influenza pandemic. ne many

we pay money for finance is totally different. i always say finance. so something it does not and that means that finance is basically an extract effect finance. it's like mining once it has extracted what it needs, it doesn't care what happens with arrest. the me, the value of all real estate, that functions as an asset is $217.00 trillion dollars. that's more than global g, d, p of all the countries in the world of all the economies in the world i, they're highly kind of flashed extractions because they come in the shape of extraordinarily complex instruments, but nobody who is not in the business can understand it. so complex that we delegate to the experts who are the expert, is the financial sector itself. this is one of the most the founding technological revolution in all history made our planet president. we have to meet the emission electric cars message in english and they need to be mind where people are just talking about that that's going to solve the problem. it won't, the world of distance and comment is driving energy transition is the

the financing cost faced by many of these property developers. and then by imposing red lines just now mentioned the regulators through new regulations, sometimes suddenly imposed, made the financing very, very difficult, and very high cost. now e, the private market financing probably will go up to about 15 percent or even more than 20 percent on an annual basis. this is truly a very heavy burden for these private borrowers. and then you have a lot of 3rd party transactions that is one that created another indebtedness, etc. so eventually you are talking about the whole chain of indebtedness from one party to another party to a 3rd party to a 4th party event next. so eventually i would say the restructuring of ever ground, which is very big coverage, several sectors and evil. if we just talk about their property sector, they find themselves in opperation with a lead to possession, for example, multiple provinces in multiple cities. so the restructuring will be a very located a restructuring, and i think it will require a lot of wisdom and courag

there was one for her person and one for her finances.— person and one for her finances. . �* , financesin person _ finances. that's right. the main person in _ finances. that's right. the main person in all- finances. that's right. the main person in all of- finances. that's right. the main person in all of this | finances. that's right. the i main person in all of this has beenjamie spears, britney ' father, he has had control of the purse strings, the $60 million estate. the relationship between the two has completely broken down in recent years, to the point where britney spears in a very emotional testimony in court a few months ago said the whole arrangement was abusive. she accused herfather and others accused her father and others from accused herfather and others from preventing herfrom having more children and seeing her friends and so on. i asked her lawyer weather in order to end the conservator ship as is typical britney spears would have to undergo some sort of psychiatric evaluation. he said that was probably going to be avoided because both sides had intimated it wasn't n

the proceedings against at are the result of a complaint filed by the french finance ministry. 11 formern employees and to ngos, the company had evacuated its foreign staff when it left the country but kept syrian employees. >> we asked the company to stop but they did not. the company bears responsibility for all of those who were arrested, killed, or kidnapped. >> my nephew worked for it. he went from here to go to his work and isil arrested him and put him in jail. after four month, he went to see isil and asked about him. they opened his file and told us they executed him. hashim: it is not the first multinational to be faced with similar accusations. such cases have rarely been brought to trial. 12 nigerians took energy giant shelter court in the u.s. for its role -- the supreme court dismissed the case in 2013, saying it did not have jurisdiction over the matter. also challenging companies suspected of concealing crimes against humanity in china's xinjiang region. ♪ hashim: let's bring in our guest in paris. we have a sociologist and professor at the university of paris in berlin.

from its own budget or it's also attracting private finance or it's supply finance through another armso the figures are very slippery. borisjohnson is boris johnson is pushing borisjohnson is pushing ahead of the conference in glasgow. boris johnson is pushing ahead of the conference in glasgow.- boris johnson is pushing ahead of the conference in glasgow. there is stillfurther— the conference in glasgow. there is still further to _ the conference in glasgow. there is still further to go _ the conference in glasgow. there is still further to go and _ the conference in glasgow. there is still further to go and there - the conference in glasgow. there is still further to go and there is - still further to go and there is still further to go and there is still countries _ still further to go and there is still countries to— still further to go and there is still countries to go _ still further to go and there is still countries to go will- still further to go and there is still countries to go will be i still countries to go will be looking _ still countries to go will be looking to _ st

the private developers should not be discriminated in terms of access to financing, to policies .at way, the property market should be more normalized in the macro sense. people can really expect to have stable property markets rather than huge ups and downs in the property market. if the property market, one of the pillar industries in china, is tanking, the repercussion throughout the chinese economy will be huge. you don't know what eventually it will lead to, how much of a final blow it will inflict on the chinese economy as a whole. kim: absolutely. this idea of something that has pushed common prosperity, a crackdown to try to ease inequality by cracking down on technology as well as finance sectors, among others. he will want to soften the blow for small investors at least. will he allow ever grand to fail? >> yeah. that's a very good question. this whole crusade about common prosperity doesn't sit very well with the state and poorer taxpayers bailing out big property conglomerates that have gotten into trouble through speculation. it's another reason to suspect why the chi

what led ou to and sustainable financing. what led you to start _ and sustainable financing._ and sustainable financing. what led you to start this research in the first?— led you to start this research in the first? china shrouds its overseas _ in the first? china shrouds its overseas lending _ in the first? china shrouds its overseas lending portfolio - in the first? china shrouds its| overseas lending portfolio and its grant giving portfolio in secrecy. so this was really an effort to equip analysts and decision makers around the globe with a stronger evidence base to be able to scrutinise the belt and road initiative, and to better understand its merits and shortcomings. thank ou ve merits and shortcomings. thank you very much- _ us military authorities in washington have acknowledged the chaotic pull—out from afghanistan has damaged the us's credibility. general mark milley told a senate committee he had not anticipated the speed of the taliban takeover and warned that al-qaeda could pose a renewed threat to us interests. he was testifying alongside lloyd austin. we help

there is a campaign-finance component. those are the three legs of that stool. lobbying and campaign contributions, united states is a regular did activity. we are fortunate the lives that we are fortunate to live in a system and there are nuances with some parts of campaign finance. it is a very regulated and transparent process. you can look up at your federal and state level how contributions are made. host: you talk about the importance of transparency. we mentioned your work at the national association of political action committees. what is that group? are you currently a registered lobbyist? guest: i am not a registered lobbyist. 50-year-old organization that was created to encourage best practices. i would also fight and defend campaign finance and policies to ensure more employees, more americans have a greater voice through their organizations. there is probably over two hundred 50 members of the national association. i'm not -- 250 members. i am a host: --host: david out of ashland, mississippi. caller: good morning. i would like to know what exactly

which is very much in violation of federal campaign finance laws. the new finance shows that this is not the first time that lauren boebert has missed huge funds. in february but word paid herself more than $22,000 in mileage in reinforcement for her campaign account last year. to justifies those reimbursement boebert would have to drive 38,712 miles of all campaigning, despite having no publicly advertised campaign events in march april, july and only one in. me >> just for context the equatorial circumference of the earth is not quite 25,000 miles, so that's quite a congressional campaign. she was running. we have seen this behavior with,

do you think there is a bigger opportunity in finance outside of traditional finance?ck take, for sure. i think a lot of the reasons i moved over were -- >> hey, for sure. i think a lot of the reasons i moved over were people told me what algorithm creating looked like in the 1990's and early 2000's. another thing that is interesting is it is sort of a blend of tech type of tools and skills with training expertise and finer -- finance expertise. in a lot of ways, it has a lot more new opportunities but also has means to be accepted broadly. romaine: there are a lot of opportunities for investors, but with regard to the public, i'm curious as to which you think the structure -- there has been a lot of talk about el salvador, but there is another use case that goes beyond just basic hand-to-hand transactions. >> for sure. i think the biggest improvement in the crypto ecosystem in the last few years has just been the adoption of stable coins. stable coins are dollar-like assets that are pegged by an arbitrage mechanism or by deposits at a bank, and stable coins are the ne

this is the september 22, 2021, budget and finance committee meeting. i'm matt haney. and i'm joined by committee members saf clerk, do you have any announcement? >> clerk: the minutes will reflect that committee members participated in this remote meeting through video conference to the same extent as if present. we invite public comment in the following ways. public comment will be available on each item on this agenda, in channel 26, 78, or 99. each speaker will be allowed two minutes to speaks. comments during public comment period are available by calling 415-655-0001, meeting i.d. 24855346023 and press the symbol pound twice. you will be muted and in listening mode. when your item of interest comes up, dial *3 to be added to the speaker line. best practices are to call from a quiet location, speak clearly and slowly and turn down your television or radio. you may also submit public comment in the following ways: e-mail to the budget and finance committee clerk. if you submit public comment via e-mail, it will be forwarded to the supervisors. written comments may

thank you to california financing agency. they are a permanent lender and they were like the final piece to putting the financing together to make this happen, so we're grateful to them. the attorneys don't ever get enough credit because you would not believe but the city attorney's office is great. representing bank of america. they were great. housing developers, representing the partnership and they are amazing and are the bond council on behalf. and last but not least, the officers who are unsung. i want to thank over public title for everyone in their living rooms and bedrooms. it's pretty amazing. this work requires so much dedication. there are a lot of people doing this especially in the nonprofit world to go out and get jobs. but people do it because they're down with the cause. they want to get people housed and are just amazing, remarkable partners and i really want to just honor them for the work they do every day for all the work they give. thanks a lot. >> charmine curtis is an amazing developer and an amazing p

the need to increase the climate finance that they're provided to developing countries. and they're also the to support bud rubble. developing countries are also, or on the front lines of the climate crisis, with finance, in order to better adopt and build, which means to climate change. but the reality is we have 5 weeks left. we need to use every day between now and 26 to get countries to be more ambitious and i'm not ready to give up yet. the 2nd general is not ready to give up . yet, the beauty of the pers agreement is that, you know, it's not a perfect agreement when it's our best hope of time in the climate emergency. i like allows countries to submit periodically there the national commitment. and we've seen countries increase half countries represented half of global emissions have submitted in dcs. and these indices hub or sorry, these national commitments, no acronym, and these national our lead have lead to a reduction emissions of around 12 percent. it's not enough. it's not enough. but every, every single ton of carbon, every single degree ads, every single

can there be a case to be made that they should be helping the consumers with traditional finance?ichelle: absolutely. i think that is one of the main focused areas. a self-regulatory organization would have a code of conduct or roll book by which all members of the sro would have to comply. in fact, adam has a code of conduct that governs all sorts of principles for market integrity. honestly, that is the thrust of this about the consumer and investor, and there are all kinds of principles to prohibit manipulation and other things that are good practices for business continuity, these are things the industry is already doing. certainly at adam we have our code of conduct that all members agree to, and this would formalize it, and would get this association special revelatory powers, as well. i think that provides the sec and fcc without. romaine: you have an industry that i think to a certain extent can be loosely defined as an industry. a lot of people look at the crypto space and the decentralized nature of it is the attraction. how do you centralize things in a way to get every

there is still a lot more action, require a lot more commitment and a lot more finance. so he'll this commitment as well. so co the risk assessment from the into government panel for climate change was that we all i to code read for humanity. there is no obscure language there. what does that mean in terms of the science? what are we seeing right now that is deeply, deeply scary? well, 1st i'll say that stories like the one shared by blood, our stories that we are seeing all across the globe. i mean, look at this is summer heat waves, drought fires, floods that like what we're seeing here across the globe recently is exactly what we envision to be typical of global warming. and they are also directly caused by global warming. so the report goes into detail about how the earth has warmed and how it's projected to warm in the future. it talks about how we are now able to attribute human influences to the climate extremes that we're seeing. the science finds that the next 10 to 20 years are critical, really, to getting the problem under control, we cannot continue to put of

but he's 13 co accused were all, were found guilty over legal campaign financing. so cozy was sentenced to a year under house arrest. the president, so cozy with whom i spoke on the phone just now asked me to go an appeal, which i will do immediately when i leave here. and of course, the judgement will not be enforceable. nicholas saw cozy, failed to be re elected as french president and 2012. despite a lavish campaign, the scale of his rallies was designed to impress, but instead it set off alarm bells. a police investigation accused saw cozy in his campaign theme of spending more than double the 27000000 dollar legal limit fits by the french state and hiring a p. all company called big 1000000 to help cover up the over spending with a system of fake invoices during the trial so could be denied any wrong doing. but the judge in her birthday is going to be knew how much to be spent on the presidential campaign. because he did wrong before i can use the law. she also said that had twice received written warnings about the risk of overspending. kimberly keith importa

they need to go to the city to, to finance, to obtain loans, and other forms to finance the keep going. if we can pressure the financial institutions to not profile at that, but as then i think that's going to be an essential part of how we move forward. you may ask, how are we going to get the financial companies to do that? well, we are lucky, we have a thing called the bank of england here at the bank of england can be, should be regulating banks. they should be understanding that the amount of risk in the, in the fossil fuel business now is such that they should be either put a cap on the amount of lending that banks are able to do to carbon intensive industries. or at least make it more expensive for them to do that. so that's kind of the pattern of what happens. and we think there's an enormous opportunity in london. this is one of the 2 great centers of finance in the world. and it's one where we have, as i said, a clear regulator who is independent and can bring some sanity to the situation. all right, if i'm going to put some questions toward a few from youtube audience, becau

what _ year from the us in public financing. what he - year from the us in public financing.that again to more than it _ going to double that again to more than 11 billion— going to double that again to more than 11 billion but— going to double that again to more than 11 billion but with _ going to double that again to more than 11 billion but with the - going to double that again to more than 11 billion but with the caveat l than 11 billion but with the caveat working — than 11 billion but with the caveat working with _ than 11 billion but with the caveat working with congress _ than 11 billion but with the caveat working with congress so - than 11 billion but with the caveat working with congress so we i than 11 billion but with the caveat working with congress so we justj working with congress so we just need _ working with congress so we just need domestic— working with congress so we just need domestic political- working with congress so we just need domestic political approvall working with congress so we just . need domestic political approval to do that _ need domesti

china is the biggest financer of overseas power plants. they financed 70% of overseas plants.y have spent $52 billion since 2000 on financing these coal plants abroad. our the biggest lender. if you are a nation in southeast asia, if you are a nation in southeast africa, china was usually your partner. there are less and less people, companies combinations that will finance and support coal power. what this means is not only is china trying to exit coal but they are trying to cut the ability for coal to be billed abroad. that is going to have a much bigger impact on the world and efforts to reduce co2 emissions. rishaad: the thing is, what is the motivation? what spurred china to make this decision? >> it actually comes at an interesting time because in the last eight months, their neighbors, both japan and south korea have said they want to cut funding of coal power plants. what -- with their neighbors doing those in pressure from the biden administration, china was under a lot of pressure to reduce their financing. a lot of green groups and investors were looking at china sa

and, from your personal finance view a dog - your personal finance view a dog is a financial asset thatit a crime that wasn't punished? i don't have a pet but people are tremendously attached to their household pets. to their dogsin to their household pets. to their dogs in particular. if we have a trade in stolen animals carrying out what other kind of theft is accompanying that was that most people will be very pleased to hear that there is a clamp down. and people, pets are very expensive, people, pets are very expensive, people lavished them with care. i think they should be entitled to think they should be entitled to think that people will be facing some punishment for doing so. 70 years present, absolutely. will put a few people off a great many people in this country and we still a crime. so it isn't necessarily an immediate solution. fine crime. so it isn't necessarily an immediate solution. one solution take the digital— immediate solution. one solution take the digital avatar _ immediate solution. one solution take the digital avatar of - immediate solution. one solution take

norberg quotes a social democrat minister of finance. quote, that whole thing with democratic socialism was absolutely impossible. it just didn't work. there was no way to go than market reform, end of quote. so, yes, let us learn from sweden. here in the united states senate as we're considering a $4.2 trillion reconciliation package that builds more government programs and entitlement programs, that once you start them they never end because we don't have to go down the socialism road. that road is a dead end. yes, sweden still has much higher government spending and a more extensive welfare state than we have in the united states, but in order to generate the wealth to pay for it, sweden now has very pro-growth economic policies. sweden doesn't pretend that they can finance all that spending by taxing the rich, like you have constantly heard from the democrat majority in both houses of this congress. in fact, sweden's tax code is much less progressive than the federal government's tax code here in the united states. most swedish tax r

the other part of the puzzle is the finance side. here it is really criticalfor finance side.for political reasons was that it is a commitment that developed countries made over a decade ago that they would reach by 2020. but it is also very practical and insignificance, it is the finance that will allow countries on the ground to take action to reduce their emissions, to cleaner energy and to protect employers. but it is also the finance that will allow them to protect themselves from the impacts of climate change, to adapt and build resilience. that finance came from a number of leaders of vulnerable developing countries. they showed up. even at major leaders does not, the leaders of these countries did, island states. we are hearing from them that we have to have this question of finance clued up by the time we had at cop26 in glasgow. i finance clued up by the time we had at com in glasgow.— at cop26 in glasgow. i think the prime minister _ at cop26 in glasgow. i think the prime minister probably - at cop26 in glasgow. i think the prime minister probably echoed | at com in

coming up, we will talk to the finance mr. of nigeria. they all carry the risk of a taper even though the market seems assuaged from that. tom: thank you very much. fantastic interviews coming out of cairo from manus cranny, and the implications of the fed and ecb possibly tightening on the em space. let's check in on the markets, red across-the-board. cautionary tales from the u.s. citigroup more conscious on u.s. equities -- more cautious on u.s. equities. the s&p falling for a third day. the china story is back in focus with tencent taking a hit as they are called in by regulators, a focus on gaining profits. hang seng is down more than 3%. futures in the u.s. are down 0.4%. ecb policy makers will have to decide if they dial down emergency stimulus later today. the hawks on the governing council may still not get their way. we are getting perspective from key voices ahead of the meeting. >> we are in a different universe it seems in the u.s. and europe. in the u.s. you had a commitment to purchase the same amount every month, and this

we need more ambition from all countries in city, key areas, mitigation, finance and that application. more ambition on mitigation means countries can meeting to got about know that always be by mid century and to concrete, 2030 missions reductions targets that will get that they're backed up with credible actions now want to be should on finance means developing nations developing nations finally seeing the problem is $100000000000.00 us dollars a year for climate action. fully mobilizing the resources of both international financial institutions and the private sector to and more efficient on that station means developed countries leading up to the problem is of credible support to developing countries to build resilience, to save lives, and lively woods. and these means 50 percent of all climate finance provided by the developed countries and multilateral development. banks should be dedicated to their station. the african development banks at the bar in 2019 by locating i'll have you the climate finance weather station in that particular area. this is on my message to every member

a delegation of the west african block echo us will be meeting qu, leaders in guineas capital finance. later, with the suspended guinea off to the military, over through president alpha convicts results from morocco's parliamentary election points to big games for liberal opposition party governing justice and development party has suffered a crushing defeat for the prime minister losing his own seat while hama dish stop to is a professor of political science at the international university over a bar. he says, the former ruling party last because it failed to deliver on his promises. moroccans went in for a major or surprise or 2 major surprises. number one, the crushing defeat of the busy de these landed in power for almost 10 years now. and the 2nd thing is the liberal coming into force to form the government. the everybody believe that the slummy will come back for another term to power and they were preparing themselves for that. that actually that the defeat was the surprise and why they were defeated. they were defeated because 1st of all, they did not deliver their promises an

so we have to have this reflection about out prevents illegal financing a firm political campaign. so cozy, served one term as president from 2007, a straight talker with love of luxury. he was tough for the immigration and crime. he retired from politics in 2017. in recent years, the political right wing has struggled in from both saw crazies remained prominent for lots of and she is then who vote for the right side. and you could ask the team as you've got enough all time somehow to ring. the conviction is the 3rd blow to so cozy reputation in march, he was found guilty of corruption in a different case, and he could soon be back in court. he's accused of receiving illegal campaign funds from the late libyan leader mohammed duffy for cozy legal problems. it seems a fall from over the cash bottler. i'll just 0 paris filter come here on the al jazeera leaked research, put facebook back in the hot seat. this time over the harmful effects of instagram on the mental health of children. world leaders promise to listen to team climate activists says they take the fight for their future

they have a better finance system than we do.eel like they might have a better finance system than we do. workday. how do they make better decisions faster? workday. it's got to be something workday. i think i got something. work... hey, rob, you're on mute. hello! hey, rob, there he is. workday. the finance, hr and planning system for a changing world. introducing xfinity rewards. our very own way of thanking you just for being with us. enjoy rewards like movie night specials. xfinity mobile benefits. ...and exclusive experiences, like the chance to win tickets to see watch what happens live. hey! it's me. the longer you've been with us... the more rewards you can get. like sharpening your cooking skills with a top chef. join for free on the xfinity app and watch all the rewards float in. our thanks. your rewards. >>> welcome back to "squawk. time now for today's "squawk" planner. at 10 a.m. we'll get the latest jolts report then at 2 p.m. the fed will be releasing the beige book report on current economic conditions we'll hear

it has its own counter isis finance group. and it has been pretty much trying to work out ways to, to disrupt the financial flows going towards these gross. do you think of this case in particular, could be conducive to a broader investigation where we might see multinational companies being held accountable for shoddy businesses with groups like i said, and other articles that were operating in areas in syria, particularly the north eastern northern part of the country and the south is some part of syria. absolutely. i think this time may be because usually they can stay in particular because you are as, you know, shop americans while leading this war in order to undermine the network, the financial network, cost of tourism all over the world. did they usually focus on, on our companies and i mean, did they keep, come, come and go actually the doctor, the conclusion to disrupt and speak with the government, mind these, these networks. but sometimes you'll be surprised to see that some of the big wister companies like, for exa

they have a better finance system than we do. i feel like they might have a better finance system than we do. workday. how do they make better decisions faster? workday. it's got to be something workday. i think i got something. work... hey, rob, you're on mute. hello! hey, rob, there he is. workday. the finance, hr and planning system for a changing world. another day, another chance. make the most of it with the network that can deliver gig speeds to the most businesses. and get the advanced cybersecurity solutions you need with comcast business securityedge. ask how to get comcast business securityedge to help protect all your connected devices. and get started with a great offer on fast and reliable internet and voice for just $64.99 a month. plus, ask how to get a prepaid card up to $500. call or go online today to learn more. comcast business. powering possibilities. >>> logitech has been a huge work from home winner. stock up 140% in the last two years as we have seen a return to growth in personal computing. but what happ

there needs to be a truck that needs to be kept on where that kind of finance can from as well.know afghanistan, whether the short-term or long-term, is not one country -- it cannot be run by one kind of government or one stakeholder in particular. there is always room for negotiation and renegotiation and so forth. even with the taliban in particular, i feel like in the short-term they need to -- if they wanted change, i see there's going to be turbulence in afghanistan. i think the security falters will not be equipped at this point to handle pakistan and eventually, let us hope for the bet -- best, but i think there is going to be -- it is a ticking time bomb. >> david, bidens critics, this is a stain on his presidency. they been saying it is a betrayal, a sign of weakness, but some say this is the boldest foreign policy move made by a u.s. president. he did what three presidents were not able to do beforehand. which is it, do you think? >> well, a bold mistake is a stain. so just being bold is not good. being correct is good, being right is good, advancing u.s. national secu

the finance years are not getting penalized the right. they're using this as an opportunity to even gouge more from the people. that's why the people and we said are now salvador have said, you know what, we're just going to go to a big point standard and get rid of the whole. the whole lot of you, well, the salvador experiment is ongoing, it's, i think, an experiment which will prove to displace especially for in developing economies. and even the financial times is now reporting this, that bit quite make sense for a developing economy because of these issues like for ex reserves and trying to manage inflation, trying to manage the problem here in atlanta is very high inflation. and these staples, of course, we at kaiser port saw this back in 2010, 2011 after a similar situation whereby a huge amount of money printing met financial crisis. and now we have even more money printing meeting this pandemic crisis. and that the domestic economy could keep on like just printing and printing to feed the people. whereas that, that the how it filt

whereas if it's bitcoin, you could just can finance, or you just don't have to finance it. non compas cannibal. yeah, it doesn't make sense to go to war if i can take your property. exactly. but that's the advisory board because it's not physically really easily put your hands on it and go for a physical attack on some enemy. so you can't finance war with bit going because you can print it can print it and you can capture it like gold. so there's less much less incentive and means to launch a war with rev. about seconds left. any billing errors in france getting into bed. i see the world's richest man is l b m age. so there's still basing there, there billionaire on perfume. it's still about per se. you wonder if any and yet with shareholder in premium by the way. okay. now in, in the telecom industry, he's a smart guy, he's the miles now. my sailor, he's, he's the smartest. i'm france time. well, pierre, thanks for bring on cars report. thanks mike. all right, and i was going to do it for this edition of kaiser report with may max kaiser and stacy herbert want to thank i g