Skip to main content

tv   Boom Bust  RT  September 8, 2021 3:30am-4:01am EDT

3:30 am
of it or has officially launched this coin payment system. we'll take a look at what it mean for the nation's economy. plus aluminum prices hit a 10 year high up to the west african country of guinea was the subject of a military coup for discuss what it means to the future of the countries natural resources. then we take you to the british styles as the united kingdom has extended a deadline from northern ireland. later on, we analyze and discuss. we have a lot of ground to cover what's going on in the firm with a big day in the world of crypto currency. after months of debate, warnings, we leave the program with a big day in the world of crypto currency. after months of debate, warnings and praise el salvador. on tuesday, we have the 1st nation across the globe to to adopt bitcoin as legal, tender president. now you book kelly, who pushed for adoption of the crypto currency,
3:31 am
says it will help salvador and say $400000000.00 a year on commissions for remittances, while giving access to financial services to those with no bank account. so how did the 1st day of this new system go and what does it mean for the world of finance? moving forward with joining us just boom by the cohort, spend swan and jeffery tucker, president of the brownstone institute. glad to have both of you wanted to talk about this, but i want to start with you. there were some hiccups on the 1st day of this rollout, correct? yeah, the biggest pick up people in ourselves saw was that so many people were trying to download the cheever wallet. that's where they call it the chief wallet that apparently had to be unplugged for time today the president was reading about it for a while, salvador tweeting about it today saying that essentially he blamed the app store is apple and google saying that they were not helping with this problem, there were too many people kind of open up the system. so we had to be unplugged for a while and then plug back in over although they are counting the lot of success with
3:32 am
this kind of 1st in launch. in fact, we saw the price of big coin going up quite a bit today. does all the way up to about $52000.00 since then. it's come down to about $46000.00. but the president, salvador also said, hey, it's a result of doing maybe some truth to that, but it, we're being honest about it. i mean, it didn't fight this single momentary events don't drive the price a big point in any kind of substantial way. it would be true, adoption and utilization have been going in el salvador could help to sustain a high price, but it's not a $1.00 day event. yeah. and we can only imagine what it would be like, even if it rolled out here in the united states. now jeffrey, that aside, how do you believe this move will fair? i mean, considering the fact that 56 percent of the population says they are weary of bitcoin and 71 percent of people and all salvador say they won't even use it over that all after a couple of weeks, i see how much it's going to save them and remittances, and this is
3:33 am
a huge and have a door. it's going to be, i'm very optimistic that it's going to be widely adopted. you know, i've, we've been waiting for something like that. i think i'll have it, or it's a perfect country that the banks are overwhelmingly, the majority there that remained, this is make up a big part of their economy and, and there's a lot of financial sophistication in that country. unlike in the us, what this is a huge miss. number of people have that they think that because the country is poor or the people don't have a lot of carnival education that somehow they never manage crypto. that's ridiculous. actually, these countries have a tremendous experience. and deal with all kinds of complicated for an exchanges in competitive currency issues and this dave tact decade. so this is not going to be a problem for l saburd or i'm super optimistic about that. and i think it's going to be the 1st country of predict many that are going to adopt person or beach and
3:34 am
then around the world and central bankers can't do anything about it. so it's really exciting. yes, definitely setting the standards, so to speak. now ben, when it comes to el salvador, we know that the country's president is young, but he is also being accused of destroying democracy in the country. and in a recent article, in the late times, he was compared to hugo chavez and best willa. so how does it impact the countries decision to move to bitcoin in the 1st place? yeah, well i think, i guess my answer is going to be counter towards jeffrey just said, i agree with what jeffrey said. but he ended up with an untruth statement. i think he said the central bankers can't do anything about it. i think we're about to see the central bankers trying to do something about it. the 1st thing is a lot of smear campaign about the president of el salvador, essentially saying he is a socialist, really was adopting big coin that doesn't make a whole lot of sense 1st of all, but that he's ultimately,
3:35 am
he's getting rid of judges. he's getting ready to supreme court, he changing the country's constitution so he can run for office again. but the, the comparisons that job is i think, are few and far between in reality and yet that's the sure that's being painted. why? why is it a picture being painted? i believe it's being done so because eventually what the central bankers are going to one is a military coup in el salvador to unseat this present, and remove him from power by setting up as a dictator and a 2 talib terry. and that is the idea here of salvatore is a, has been for many, many years, a crime ridden country, a country that was dominated by narco traffickers. they have a young president who yes is trying to change systems there. but he has to change systems there because the systems are fundamentally broken. if you live in el salvador, why are so many people who are fleeing the country headed north crossing our border here? because they don't want to stay there in that country until the only way you keep people there is to make the situation better. what i believe is happening with the i m f, who has warned over and over el salvador about doing the essentially threatening
3:36 am
them as we've talked about in the past about doing the fact that we're seeing so much of this kind of tick pieces in, in main street and news articles and tv programs. what i was about to happen is that the i m f. the bankers are going to make their move to try to remove this president from power and try to claim a failed experiment of coin in el salvador because it is such a threat to their power. and jeffrey, i mean, you know, to ben's kind of point and kind of following up on what you said there before. i mean, how much of the future of big quinn adoption. it's kind of riding on this moment to see what else salvatore does to see how other countries who are especially, you know, you talk about maybe here in the united states. but that, that seems to be far off. but other nations that are in need of this, that faith, a lot of remittance charges that have a lot of on bank, you know, how is this going to, to actually affect that? do you think the political issues that been raised? very interesting. i had to read that article was rather ominous. i mean the guy
3:37 am
wants a 2nd term. ok. that's all it comes down to wants to 2nd term, steve is popular among 80 percent of the public. the novelty, 5 or 40 years old, super tech savvy. you know, he wants to 2nd term, i don't know that big dictator. he's not entirely sure. but the example is still there and yeah, there's going to be political tax of this guy. i don't know if bins. right. i mean, you pre pessimistic about this is pretty interesting. maybe come back down the last example, 5 in many other countries in the region from ours and peter mala to canada. and so nicaragua, going to be looking at this and saying, well, if this works, why shouldn't we do it too? i mean indeed, the question is, why? and you know what's also interesting. there's been some speculation about that one in the wall street journal. does this else howard or a global crypto have in the, in the meantime for version into. ready to dollars, i mean what,
3:38 am
what are the new york banks going to do about that? how are the financial regulators going to hand, but if they want to overthrow because they better start working on this real fast because the vents are moving very quickly for bit claim. we saw the jump in the prices that's partially influenced by this, maybe not entirely, but there's no question that there's a future for this current, the future for the technology and how are going down in history as a 1st country really try to get out there and i just have to gratify the government there for been so far as seen and seeing that this is the future i've been. the crypto currency is, is so far, fast in every way over the national current is that there's not going to be, you know, no matter what the message says. well, it's going to be interesting and we'll, we'll, it'll take some time to see whether this actually works, whether it is widely adopted in el salvador. we'll keep covering and boom, but spend jeffrey tucker of the brownstone institute. thank you so much.
3:39 am
the the new, the military coup and the west african nation of guinea sent aluminum prices skyrocketing to their highest point in over a decade to start the week. as commodity markets reacted to the blockade. one of the world's top ex borders a block of guineas, military confirmed, they detained the president and suspended the constitution, leading to a closure of land and air borders. the massive reserves of natural resources, like box site and iron, or that have the u. s. in china uniting and their concern over the future of the west african nation. are you daniel hawkins? how's the story? this isn't the 1st qu, in guineas recent history. in fact, is one of several people in a number of former french african colonies in just a few months. presidents of the impoverished west african states taken into custody
3:40 am
while the countries special forces. their constitution dissolved by nationwide curfew declared with any refusal from officials to cooperate deemed a rebellion. the mutineers certainly mean business, but claim it's all for the greater good will no longer infest. politics to one man will intrusted to the people. guineas. beautiful. we don't need to re guinea any more. we just need to make love to her world is seeing a rare moment of unity from the he went to the african union and even usually rival staves quickly banded together to condemn the military takeover. i am personally following the situation in guinea very closely. i strongly condemn any take over the government by force of the gun and call for the immediate relief of president alpha con day said why all the attention? guinea, despite being direly poor, is actually pretty rich apart from large amounts of gold and diamonds. the country holds by some estimates, a 3rd of the worlds of the book size. one of the main sources of minium, in fact,
3:41 am
is the world's 2nd largest producer and metal markets look pretty rattled right now . if you do have issues in the country that supplies 20 percent of book site to the global market, then clearly that will be a problem. alimony in prices over the decade, high, great news for mining companies. but it probably makes little difference to the average guinea and like in most former colonies, is mainly mining conglomerates that tend to profit multiple states have investments in the country from russia and china to australia and the u. k. according to the us state department, one of the biggest plays in guineas, marcus is froth. friends. companies as part of international conglomerate play, a big role in the mining sector, as well as the privatization of the country's energy grid. and relations between the 2 countries have grown closer under the baffled president's rule. fountain guinea have thrown bilateral relations with many high level meetings. relations
3:42 am
have intensified south con, they came to power. and as the world condemn is the latest round nevada's, it's a sad fact that unity only seems to be shown what national interests are at stake. africa seems to be still stuck between either authoritative regime and rulers do not want to leave power. like what happened, we can be more cool and the worst type, of course i always the military one. so it's unfortunate, but i don't see positive developments in the future in the continent. of course, this is a problem of our most quicken and developing countries. it's that they natural resources are not really used to help develop country for the sake of the test. it is. that's the the conundrum. but most african countries have not managed to break away from. so i don't think even this new regime we manage to do different policies . i guess the business as usual would be the same again, get a,
3:43 am
me going to korea. and then the multinational companies would keep proctoring from these resources for with a smoke site or gold or diamond. so i mean, rachel, when we look at this, what do we know about the situation and getting right now? we know it's interesting. we were watching in that report there, that there was a lot of concern coming from the u. s. and china and kind of them all coming the other, especially as they're watching aluminum prices skyrocket over the last couple of days. and i know it's something we talk all the time here about the global supply shortage. and just how dire these conditions are, when is it going to get better? i mean, that's a question that we ask just about every guess we bring on is for sort of their take on it. and so it is incredibly concerning. when all of a sudden you see some sort of military coups where they're talking about air and land borders. being closed off and all of the sudden major world powers are wondering if they're going to be able to get access to those minerals and to those resources. well, i'm thinking of world powers. we know that china has invested heavily in the region
3:44 am
over the last several years, a decades really. and in fact, $100000000000.00 right there. as part of this, what do we know about that? you know, that's one of those cases where this is all part of their belt and road initiative . and it's interesting to see how china has really looked at investing in other countries like africa. but they've done that sort of differently and been with the united states is that it because, you know, in the united states does it, they really make sure they've got that military backing for other countries to know that they mean business and that they want a certain level of control here. and so what this is doing is it's kind of testing where china is what, what they're doing and with their strategy exactly how that strategy is going to work out, especially in a country like guinea, we've talk about just how poor it is. and it really makes you wonder when it comes to those massive investments. who are those investments going to and when it comes to a case like this, where you have the military rising up and overtaking the administration will then clearly you've got so much deeper problems. there that aren't being sold just by
3:45 am
those, you know, massive investments from countries like china. and we'll have to keep an eye on this and what it's going to do to eliminate moving forward. but that's for another show time now for a quick break. but when we come back, what take a look into the state of the so called sausage war, it says the u. k has extended a post rec grace period. and as we go to break here, the number at the call me ah ah, ah, ah,
3:46 am
it's an open secret. the private military companies have been playing a role in om complex worldwide. u. s. government doesn't track the number of contractors that uses in places iraq or afghanistan united states army and the military in general is so reliance on the private sector. i would call the dependency divide. we don't know who's the on the ground presence of these companies overseas. we just don't out. the western private military companies can in their turn, use so called sub contractors from countries with trouble pass. the chances are quite good that they had also been soldiers. i was as i drove profession, i drove his weapon. when the full moon wouldn't it? wouldn't that look, you know? no limit. malone trained to be merciless killing machines. now they
3:47 am
fight and die in other people's was people carol, lot one or a dead soldier or dead marine shows up in this country and we started asking ourselves, why did they die? why do what were they fighting for? nobody bothers down to about the contractors having alternate realities to experience or even live in like say, role or my dear, you know, especially during and where you can go anywhere in the game world. go everywhere, you know, choose the game that you want. any open world game, choose it, and you are now on a vacation in a place where you're like flying helicopters or you're, you're on beaches, you're, you're in a city drive, you know, what are the car you want? you know, you name it these. these are getaways the,
3:48 am
the welcome back to construction had been ordered through 2 pipeline is finally almost complete after nearly 2 years of work and threats from 2 administrations here in the us. but even with the sanctions that were implemented operators confirm they have well the, the final piece of piping and it's time to lower the final portion of the pipeline into the baltic sea. as a result, russian foreign minister survey live rob confirmed it will be a matter of days before the north stream to pipeline is fully complete and ready to be used. however, he noted there continues to be what he called a frontal attack on the pipeline. even though everyone, including the u. s, understands their opposition to it has yet to fully stop the project from coming together. and the u. k has extended post a post brack, that grace period on goods imported to northern ireland at the end of september, chilled meats and sausages were set to face a band going into northern ireland from the rest of the u. k. while other food
3:49 am
products would face extra customs ex, inspection you trade with northern ireland has been one of the most talked about issues and negotiations over breakfast. and the grace period had already been extended. twice on monday, david brought britain's chief negotiator in the talks, said there would be the a fresh extension with no new deadline in place. the you, for its part that it has no plans to respond with legal action against london for this latest move. so for more on the so called sausage wars and other news around europe, let's bring in hilary. ford is board member of the british american business association . you know, hillary, we get to bring in to talk about the sausage and what is the latest extension? tell us about the situation. why are they extending right now? well, it just means that you never, ever take away the sausages of anybody who's british. but in all seriousness, the breakfast minister, lord david frost, said that this should not be
3:50 am
a hard extension because that would put always the christmas sort of at risk. this is the 3rd extension. the last one was at the end of june, and this one would end the end of this month. so this is a 3rd extension, and really the protocol just needs to be finalized the sausage war. let's go back, i voice said, i don't know who coined breaks it because breaks it should never been called breakfast. that implies that it was great britain leaving the you the european union. i said many years ago it should have been called ox it. because the, the northern ireland is northern island is part of the u. k. it is the united kingdom of northern ireland and great britain. and that's why it should have been called ox it. but it wasn't, it was bricks it. so northern island is part of the united kingdom, which is leaving, and that's why this is such a difficult issue because it's that border between southern and northern ireland that is a steak. and that's why the sausage was difficult because southern on his part of
3:51 am
the e. u and northern on staying with the u. k. now, when it comes is ongoing conflict. we heard 2 weeks ago, irish prime minister, michael martin, said he believed the issues of northern island could be resolved with the right political will if he referred to it. yeah. so what is it going to take for the situation to get worked out for once and for all? do we have until christmas? all right, so we have the political will for the it's a very, very complex issue. a couple of things that have been talked about a few things. number one, don't forget the swiss. on the e, you have an agreement with the swiss and someone is right in the heart of europe, and they've always managed to deal with the rest of europe. and with the you, those agreements could be given an extended every single one of them to the british right to the, to the u. k. and when i say you k, i mean northern ireland as well. and those are called a sanatorium photo sanitary re relations. and those pertain to everything
3:52 am
veterinarian veterinarians cover with regard to meat products, which is of course sausages, and everything to do with any meat products. those could be extended, bought, it would take the u. k. the british agreeing to the rules and regulations under the e. u. which they don't want to do, and it would mean the e, you agreeing to just basically duplicate those rules and regulations, which they don't want to do. the 2nd option would be to have the same thing that they have. the you also has with new zealand, which would be to agree to common high standards, which you already has with the, with new zealand. now actually there is already in place that was great to 2 years ago. a what is called a common agreement. and in terms of standards that could be carried through again, bought the you doesn't want to do that either. why doesn't you want to do this? if the e u was to make it easy for the u. k. and we've mentioned this before. there are many other countries that would want to me. so the
3:53 am
e u fundamentally wants to make it difficult for the british, but doesn't eventually one side have to back down and say, you know, you say when you lay this out, you go the u. k doesn't want to do this, right? you doesn't want to do that. totally understandable. that's why we negotiate. that's why we come to an agreement. does one of the side of the bentley have to back down? you will thing. so eventually one side is going to have to an eyeball. i've always maintained this. i've always maintained that when you look at the manufacturers and you look at the tradespeople throughout europe, and i've always said this about the german call manufacturers. if you look at, say, mercedes, and you look at the german call manufacturers and the white goods coming out of germany, the u. k. is a huge market for them. there's a lot, a lot of pressure on commercial, on all the german politicians to just say let's make an agreement. and to your point, brent, they should just agree and put bricks that what should be called ox it and get on with it. all right, i have one more thing i want to hit before we go here. you know, the u. k is facing a labor shortage that is the worst decades. and now the confederation of british
3:54 am
industry is saying that the crisis could actually land the last 2 years. and they're kind of saying that the government needs to do more here to fix the situation. what do they want the government to do? what they want the government to do is they want the government to ease the regulations and actually to allow more visa for your eastern european european workers to come in. but a couple of points. first of all, a step back as well. this labor shortage is going on and other places in the world in the u. s. there are 10000000 jobs. jobs are open and there are, you know, we're hiring signs all across the us. this is not a u. k issue. this is a worldwide issue. so it's not just in the u. k, but the reason that the u. k. government is holding back on this is because for the whole reason what they want to do is they want businesses to hire local u. k. british workers. that's what they want them to do. so that's why they're holding back and they're holding back on this. and they also want you k workers to be trained up for these jobs. they don't just want to have a visas extended for those in europe. that's why it's being held up. hillary ford,
3:55 am
which of the british american business association. thank you so much for breaking all this down. pleasure. and finally, at an event ahead of the 2021 munich auto show volkswagen in argo. a i gave the 1st look at an electric autonomous vehicle, the id buzz. now the van is built around the concept of the iconic b w micro bus. but the vert, this virgin unveiled in munich is covered in high tech centers to bolster itself driving capability. the companies say the id but will be tested on public roads in munich, as well as a private track in the city, with hopes of being the backbone of volkswagen plan for a commercial ride hailing and delivery platform. they are looking to launch in germany in 2025, back in 2019 v w invest in $2600000000.00 in pittsburgh based on a i, as part of a quote, global alliance with the board to co develop electric and autonomy vehicles. reducing the r a d. ca for the automakers. unfortunately,
3:56 am
this one doesn't look like that classic micro bus that we're so used to seeing a kind of a hippie situation there. rachel, i say it does look cool. i'm interested in coming to fruition and that's it for the time you get boom bus on demand and the portable tv app available on smartphones and tablets. you google play in the apple app store by searching portable tv. portable tv can also be downloaded on samsung, smart tv, and roku devices, or simply check it out at fordable dot tv will see you next. me, i choose the media a reflection of reality in
3:57 am
a world transformed what will make you feel safer type relation for community you going the right way or are you being direct? what is truth is faith in the world corrupted. you need to defend the join us in the depths will remain in the shallows. ah, ah, the pacific leg around the world, expedition by 1000 ocean miles round the clock and the dead calm
3:58 am
as every country close by with the crew. gavin's food and water. and to check for sure. the little blue on the little thing is got everybody locked down or almost no food. and no one really. you know, i'm not sure. can somebody call me? especially in the coven, your living? like the theme and of own, but in the 21st century i it's an open secret that private military companies have been playing
3:59 am
a role in arm complex worldwide. u. s. government doesn't track the number of contractors that uses in places iraq or afghanistan united states army and the military in general is so reliance on the private sector. i would call the dependency, but we don't know who's the on the ground presence of these companies overseas. we just don't know the western private military companies can in turn use so called sub contractors from countries with trouble past the quite good that they have also been charles diligence. i think i was i was, as i drove professional drug is where we're going to go with the fact that that was with linda and malone and they were trying to be merciless killing machine. now they fight and die in other
4:00 am
people's was people carol, lot one or a dead soldier or dead marine shows up in this country and we started asking ourselves, why did they die water? what were they fighting for? nobody bothers doubts about their contractors. ah, great can use here on, on here least 2 people are killed and 5 entered and a gas loss is partly destroyed. and apartment block in the moscow reach and rescue . cruise off touching the survivors on the rubble. the president joe biden got the hostile reception from his own that citizens i'm in public frustration of his handling of the kind of stone pull out as the 3 of 911 approaches, the stove and in depth investigation.


info Stream Only

Uploaded by TV Archive on