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tv   Boom Bust  RT  December 6, 2021 9:30pm-10:01pm EST

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expires against the background of immunity to delta does not look good. there is a very little date on that. unfortunately, so far. one piece of data when we have is that the people who got infected previously with delta are more likely to get re inspected with across compared to the people who call people who got alpha green fact. so on the chronic looks somewhat different from the viewpoint of our news system up now the delta and all plan for this, there in state. and so that might mean that we may need some conditional explaining to the immunity of what these bar season, that is actually the same part. and maybe the vaccines will ultimately have to be tweaked or that from the health care viewpoint vaccine mandates. probably be a good thing. because, you know, there is 40 percent of its native people that we have here in russia are definitely
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unacceptable. we have a functional, obscene with proven efficiency, brought both within and outside russia just and the people that really should take it at the news for this. our stay tuned for your world news headlines and just about 30 minutes. ah. with all that money printing is driving up the energy costs and it's gonna force russia into the you and for that to happen, nato and american military is got it. germany, i call it air 1st. you say i'm crazy, but that's what i'm calling with
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. this is boom bus, the one business show you care the board them it, reggie board and i'm rachel lemons in washington coming up safe point and skill drilling from an ugly weekend as the world's largest crypto currency falls back below $50000.00. so what's behind the losses and how will it affect prediction? well, the scott state department launch is an investigation after their employees were hit by hackers using is reli spyware. we'll bring you the latest, and would it could mean for the world and cybersecurity. then we take you to the chinese real estate sector. wherever grad is facing default, yet again, it shares in the firm have a record, low catholic, a shadow over the entire industry. good. a lot. get to get started. we leave the
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program with a very rough start to the week for bit quite at the world's largest crypto currency has been battered over the weekend. in fact, bitcoin lost over $10000.00 in value dropping from $57000.00 to $40000.00. at one point, however, the crypto was down 21 percent before recovering slightly. then on monday that quote was backups slightly at around $49000.00. but clearly fears have coming regulation have not only hurt the crypto, they have also crush the hopes of bitcoin hitting $100000.00 by the end of this year. so joining us now to discuss the latest boom, the co host, an crypto analyst, benson and chris the i. now, christy, let's start with you here. breakdown for us, what happened to bitcoin this weekend? well, a lot of it was simply the macro narrative from the equity market bleeding into the cotto realm. you have institutional bias to crypto over the past year or so at an
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accelerated clip. so while this is great because it offers legitimacy to the industry, it's also kind of a double edged sword, because now the same players that cause such volatile swing through the equity game are now in the crypto space. there is so much capitulation on friday as legacy institutions look to preserve annual games heading into year at something that long time cooked hollers never had to do before. so the other 2 markets are not so uncorrelated. now, because we have the same players until the drops down from 3 main reasons. first, we have the reaction to the news on the micron very, and then you have a reaction to the potential for an expedited fed taper. and then you have the actions in the derivative markets. now the derivative exchange in particular was responsible for the cascade down, as there had been some very large leverage positions and bit coins that got blown out. so as soon as those get blown out the support collapses, and it's just a domino effect that we've seen time and time again, traders are forced to liquidate positions to cover losses. and the fact that it was
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a weekend further exacerbated the situation because you see me, which accounts weren't increasing. love of open interest volume on big point features. they don't operate on saturday, even though the crypto markets are 247. so this further contributed to a lack of liquidity this weekend. once again, it's another downside for having institutional participation. but in any case, this was an abnormal for big claim because we've seen 30 or 40 percent volatility and big coin in any given month before. and i feel like we've had these that maybe not such a big incense, but obviously with sitting of well above where we had seen it before as well. so we have seen this kind of action before. now ben, a theory and other crypt is actually we're not hit as hard as bitcoin. why do you see that happening? well, i think it goes back to what christie was talking about that word, institutionalized finance, right? so, you know, and i just got to say, once again, we've called this for some time. christie and i have both been very critical of the institutional investors who have come into big point specifically because they mark
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up the market. that's what they do. they don't, they don't play the market for the desire to see bitcoin become the finance and the future. they're in it to make a quick buck. and so every time something happens that they don't why they get scared and they, and they sell. and so it's very different philosophical view of big coin when you talk about institutional investors versus those who are kind of crypto enthusiasts, right? they, they believe in crypto, they believe it's the way forward. and so what we see with, with ether and some of these other crib, those they're not hit as hard because they don't have as many institutional investors in them. any theory is a little bit different to begin to think about either. first of all, it has a lot of the defy world is built on either obviously and so it's more contracts. and a lot of that world is really built upon the skeleton of ether, as well as in f t, which we talk about all the time, right? enough t's are really built on it's area and, and on the block chain. and so because of that there is a more true at this point. purity kind of got like that word, but to a theory and then there is to big coin because it hasn't been tainted as much like
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institutional investors. and it does have more utility right now. as opposed to just the hedge against inflation. christy with bent point, they're about included in the loop in the to show life ation. i apologize. we're just not coming out there on bitcoin and your points for that matter as well. more and more bit and seem to correlate with the stock market. what is the downside of that in that situation? huge downside because we literally had the same players now and unfortunately these are some very big players with some pretty big wallets so they can cause significant moves and swings with money like that behind them. so they're going to trade bitcoin like how they trade equities, short term positions, sell at the 1st sight of panic. they don't contribute anything to the network. they're like leaches, they don't build the network. they don't stake the network. they don't farm, they don't host, they don't validate and they're not harmless. so they are unfortunately, the ones now causing these gyrations. so it's kind of the joke that we talk about in social media, right. we don't like facebook anymore because, oh, they're so crop. they control everything and it becomes all ads. so you jump on to
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instagram, and it's cool for a minute until facebook buys it. then it becomes the same thing. it's all ads. then they follow you because they have the big wallets. then you move on to snapshot, it's great then once again, more ads, finally, good. go to tech talk and it's amazing for about a year. and now the ads are once again, slowly creeping in. so really that is the downside because it's an institutional right now. they're just like ads because they had the bay wallets that they don't really contribute anything to the industry, the space or the girls. yeah, those advertisements truly never seem to go away. now ben, before we go, i want to hit on one more story because we heard that the latest centralized exchange hack may be among the most devastating to date. as bit mart has lost $196000000.00 in various crypto currencies. what do we know about that hack so far? yes, pretty interesting. so apparently there was a hacker who got it got into some of these accounts, right. and they, by the way, they were able to trace the wallet to someone who called themselves bit mark hacker
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. yeah, big shock that they were the hacker, and so what essentially they were saying is all throughout the day, you know, entire wallets being emptied and being transferred to a single address. in some cases, these were tens of millions of dollars worth as you said, but a $16096000000.00. busy dollars where the crypto was stolen, the crazy thing bit martin originally saw this happening and was flag. they said, oh, this is fake news. is just normal trading going on and normal deposits moving back and forth to the wallet. then went back in a minute that a couple of hours later that, oh actually it's not it, it was a hack word that stands out once again, centralize the latest, centralized exchange. that's the problem with centralization is that you create the system and i say it almost every time we do one of these stories. if you whole crypto, don't leave it sitting in a centralized wallet someplace. you've got to take responsibility for your, for yourself, put it in the cold stories wallet and hold onto your teeth yourself. don't just leave it sitting in exchange. if you do, eventually, it's probably going to get taken from here. we continue doing the lesson hardway
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over and over again. great insight is that what we've been on and chris, the, i thank you both for your time and the phones of 11 employees of the us state department were hacked by an unknown perpetrator using spyware, developed by israel based technology company. and so group, according to reports, the hacks happen within the last few months, and target officials based in uganda, or focused on the african nation. it appears i phone maker, apple notify the state department of the spyware attacks. and this is the 1st case of s o groups pegasus tool being used to hack american official. now last week, the u. s. congress department blacklisted at s. so group and another israeli firm. mcandrew alleging the companies provide spyware to foreign governments intending to target journalists, embassy workers, activists, and other. back in november, apple filed a lawsuit against an s o group in its parents, company
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o s y technologies for targeting, i phone users with pegasus spyware. so let's go ahead and dig deeper into this story as cybersecurity has been front center this year with morgan wright, chief security advisor at no one and former senior advisor to the us state department. i terrorism assistance program. now, morgan, i mean, it seems like this spyware developed by it. so group has been extremely controversial since it came on the feed. what do we need to know about pegasus and how it was used in this situation? so this pegasus software is to zeros. it's uses 0 day exploits, entered, involved 0 touch infections. in fact, one of the ways they did this in this case, they send a specially crafted, malformed message. you didn't even have to interact with. it was just loaded with malware and then it executed and found a 0 day exploits on the phone and that's what it did. so what makes this so devastating is you don't have to click on anything, brent. you don't have to do anything if they know your phone,
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if they know your phone number, they get the details around it. they can now target you and get in without even asking you to let them in. so this, this is what makes this stuff so hard to stop and so hard to detect. yeah. and incredibly concerning all around about who could target. now, so far, the commerce department has already blacklisted and so group is that likely to have an impact at all when the spyware is already out there? and as we're seeing, it's being used. yeah, you know, it's one thing. if it's a nuclear weapon, we can track those things because they're big physical software. you can hide it, you know, something this big. i mean it's, it's a very small application, you know, considering that what, how much of phones, what kind of storage they have. so yeah, you know, the damage is done, the one thing that will make it less effective is that it uses you have to update it so you have to find out what 0 day exploits it's going to use to do its work. it just doesn't run, it has to use an exploit so that it can get into the phone. so the more apple patches, these things, the more we become aware of it,
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that tool becomes less and less effective. so can only target those people who have maybe older phones who have not updated their phones to prevent the latest security threat so bit. but once in a while, it's going to stay out there for quite a long time because it gets what you're going to come as a shock. not everybody updates their software. well, i was going to say that because, you know, you worked with the state department. i would think that it would be some sort of requirement that if you're some sort of, if you would keep updated, you would have some sort of. 5 some sort of anti virus security or something on there, right? i don't, i don't know what you're into over there, brant or you can the government, yesterday's technology tomorrow. i mean are still using software that is not officially supported by microsoft, and other folks now looks infect state department ranks at the bottom of most of the federal agencies in terms of their stature on this. so now look, you would think that, but as we get into these newer technologies, it does become a little bit easier to manage. but guess what? in the old days it was about antibiotics. it was about desktops. but guess what,
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my, what we have, i was actually going for my phone here, but we're gone for everybody's life revolves around this right now. everybody's life is based on this. you were just talking about crypto currencies and tools, guess where you contain a lot of your wallets. a lot of that information right here on this. so this is become the new target. and i mean, i hope you didn't make too big of a mess there. morgan, 1st of all, but i mean it's the whole situation is crazy and at the group actually felt the spyware to other organizations in government. so what responsibility do they actually bear when they kind of appointed? well, if somebody was using it in a various way, then that's not ok. well, we'll ruin their will take away their life. it. so i had a conversation with nicole per off new new york time. she wrote a book called, they told me this is how the world in and it was about the use of 0 day exploits. she talked specifically about in a so group, guess what? this is being used in mexico by the government to target people who are against the soda tax people because they're such a huge industry down there for that. it has been used to target human rights
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activists. so as much as in a so says that, hey, look, we've that these people, we look at this, you know, what, at the end of the day, i hate to say it, but a lot of times it's driven by this. if somebody comes up with the right, right amount of money, you can make any, any of your requirements fit what the customer needs. and no matter what you say, here's what we do. i guarantee you if the, if there's enough zeros on that, check your threshold for what you say you will and won't do drops dramatically. oh, absolutely, and we're seeing that play out right now. and i know. a there's a lot of talk about the n s a group and their software specifically. but are there other tech companies out there making similar spyware that we need to be aware of? yeah, facebook, google, if you want to know somebody who has, who has you have given permission to get into your life and watch about, you're just talking about this to about, you know, you do your watch and somebody's got the ads in the ad tracking and then you set the cookies and then it does this. i mean, all of these things that we never used to talk about have become commonplace. you,
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you see now, do you agree to accept cookies? you know, here's what we track. i mean, are there other software packages out there? yeah, they're kind of narrow, but i tell you if you want to know who's got the biggest, the biggest software collector out there, it's those 3 companies, you know, google, amazon, and facebook. they've got more data than any intelligence organization in the world does. it's a scary world out there. and unfortunately, cybersecurity, i for morgan right unfortunately tells us how scary is every time we have you and we really appreciate morgan, right. have been no one. thank you. so much and from one investigation to another the securities and exchange commission has and now it is looking into the company tied to former president donald trump's plans to launch his own social media network. the fcc confirmed it is seeking more information from digital world acquisition corp. which is the spac merging with the trump media and technology group. that's right. he did create a trump media and technology group. much like the rest of us, though the agency has questions about the company's plans as well as its investors
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. and speaking of investors, the company says it has raised more than $1000000000.00 and capital from what to call a diverse group of institutional investors, which it will receive once the merger is complete. now another mystery here is the social media platform itself that the company aims to build name truth social. while trump and his team had branded it as an alternative to twitter and facebook after he was banned from both platforms, while still in office. the invite only test run of the website that was promise last month still is nowhere to be found. so it seems like we've got more questions and answers here. one of the biggest questions that i have is, what are they going to do? they say they've raised $1000000000.00, they come out with this new platform. well, what do they do when the app store comes along and says, nope, we're taking it down, you violated. i mean, the real question i have about this rachel is, are they going to get to that point? i mean, they continue to make promises that they're raising all of this money. they went public before ever having a private product with this back merger for that matter. and we still haven't seen
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the beta test, we haven't seen anything from them. so the question is, is it real? right? are we going to see this platform isn't going to exist at all? we will be here to tell you. finally comes time now for a quick break, but when we come back, that is ever grand group continues to peter on the edge as it stuck has hit a record low with a potential default looming will bring you the latest details from the nations real estate sector. that's going to break here. those numbers of ah, with focused on ukraine, joe biden says, i don't accept anyone's red line, rushes foreign ministers that again margaret says, the nightmare scenario of military confrontation is returning on this edition of the program, we examined the significance of both statements. i look forward to
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talking to you all that technology should work for people. a robot must obey the orders given by human beings, except where such orders at conflict with the 1st law show your identification. we should be very careful about artificial intelligence at the point, obviously is to great trust, rather than fear a very job with artificial intelligence. real, somebody with a robot must protect its own existence. with that i have often said transparency for the household, privacy for the bell, this case about privacy. what people care about is power. julian,
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a son just become a symbol of the battle, the privacy information is power. that's what's going on in the world. a huge struggle with the government's corporations to want to keep information secret and others who the democratic rights should be pushed forward. and people have a right to know what their parents are doing. watch how assange helped to shift the conversation around transparency. come see what that battle has done to him. i feel like julie's life might be coming to an end. we are in a conflict situation with the largest and most powerful employer in such a situation. it's remarkable to survive the air welcome back. it was a brutal day for ever grand shareholders on monday as the company's stock hit,
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an all time low after falling more than 22 percent in the last week. the company is approaching the end of a 30 day grace period on more than $82000000.00 in debt. one miss payment after another lead after grad to finally announce on friday. it plans to restructure its op sure debt moving forward. and in this called in the local government, in the province of one dung for help. but will it be enough that remains the question as the world's most indebted to company faces more than $300000000000.00 in liabilities. and it also remains at risk of becoming the largest chinese company and to ever default on its debt that were to happen. the impact would be felt not just throughout china, but throughout markets around the world. and speaking of decisions that will have a global impact, the federal reserve here in the u. s. is preparing for its december meeting next week. and the markets are bracing for the banks decision on whether it will speed up the process of tapering. asset purchases, as inflation continues to store and americans feel the impact all around. joining
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us at all is octavia morale, the ceo of openness. i'll see now octavio. let's start with the latest on china. in the ever gram saga, the company we know has miss multiple payments are ready. so do you see the local government stepping in now having an impact at all on where this is going? well, i'm really not sure what the local government can do in this situation. i mean, ever grounds problems. first will extend outside of one region in china. there act throughout china. but the local government really is not able to do very much of that sort of maybe write some checks and, and do things not so the real supports can happen from the central government in china and from the people's bank of china is going to have to do something about the ever got is racked up and do something about that. the local government, i think, is a bit of a lost cause. it's good to talk and good to get some support moral support apps. but really in terms of taking on the level of debt that every grant is racked up, it's not going to be the local government's going to be able to take this on. and i
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would point out is not just ever grant. i mean, it's the entire real estate sector in china that is really very valuable. it's not limited to have done. it's not a one company phenomena. this is the entire industry in ty, real estate industry in china is really teetering on the edge right now. and that's interesting because, you know, we've talked about that there curbs of the property sector as prices were getting out of control and some major cities in china. that's the reason that kind of rolled some of that back. i mean, do we have any idea? are we still kind of thinking that the central government will not step in at this point? i think is pretty certain the central government will step in at some stage. i've always stepped in the past and things like this become out of control. that the real problem ever can potentially collapsing is, is going to have a knock on effect and all sorts of other businesses and investors, home buyers and things that sort of and other than the chinese government wants to see that many people really intensely irritated by this particular people bought real estate projects from retail investors of what we say projects from every grant . so the certainly going to bail those out next question is sort of local suppliers of construction companies that have built things for grant. are they going to bail
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those up? probably as well or do something in that front. and then finally, all the banks that have lent money to, to have a grand, i think it's pretty clear that the government will bail them out, at least, perhaps after small haircut. but they are going to step in and help us out. i don't see chinese government lesson is this whole sector for that one's face. you'd be a very, very unpopular thing to do. and i think politically very dangerous thing for them today. and i thought they were to do that, would we see that global contagion that we were so worried about several months ago . i guess everyone to sofa has as most of its debts with, within china domestically. it has got some overseas that certain to some foreign bond holders will take about that. i think there's the kind of people, the chinese government is least likely to help. i mean, they're going to help out the local banks in the local construction companies and the local home by some people got lost people. the list of people to help is going to be u. s. hedge funds and european edge ones have lent money into this into token possession . so it will have a knock on it. but i mean,
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it's that is $300000000000.00. that's not enough to take the world economy down by any stretch that nation. i mean, it's a lot of money obviously, but it's not going to see the whole world claps holes. well, financial systems, perhaps. i think it's, it's, it's within bounds within reason. well, it's not going to have a global impact. it will certainly have a big impact locally in china, but it's not going to say the whole world economy down with. yes, certainly a lot of fake, they're now back here in the us. we know that the fad is gearing up for its monthly meeting next week, and there are reports that it could speed up its taper schedule from $15000000000.00 to $30000000000.00 a month. i mean, at this point with inflation already over 30 year highs would not have much of an impact i think is going to have a limited impact. i think that kind of dosage is more sort of a homeopathic dose. it's is really a more sort of it with us really going to make that much difference. i think the fed some stage of the not too distant future is have to have to go away from buying bond session selling bonds. so they're going to have to reverse that. it's highly and basically say we're not going to buy bonds anymore. we can actually go down our
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balance sheet a bit and get that under control because the bank and i so blows is unbelievable. happy that has become, so something's not too distant future, they're going to go in reverse. and so we're going to start to sell some of these bonds that we've actually drawn down the money supply bit. so i think a shift from 15, which is from, from $15000000000.00 a month to $30000000000.00, given the buying a $120000000000.00 a month with bonds, is not going to put that in inflation. i think that i think that's pretty clear. it is interesting how that trade power base. it had an enormous maricopa last week, but basically saying, well, we now believe that this inflation is not transitory. maybe we should stop using that word. i think as a starting at mission is part of basically say, yeah, we got it wrong, inflation think is much more serious and we thought it is not transit right now. it's personal semi permanent. and now we're going to really get aggressive about caution back the bomb purchase. i only have a 2nd here for yes or no. do you see us going to a rate increase any time sooner? i think they'll try it and then crash the equity markets and come right back down
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a year when i know we finally get that emission from karen prowler will see where he goes from. there are talk to him or in the end of them as i'll see. thank you so much for your time. thank you. and finally, something that will likely haunt your dreams. scientists, u. k. base tech company engineered ours have been billed. it's the latest hyper realistic robot featuring life like facial expressions. now the new robot called an mimics human mannerisms like smiling and regularly blinking its eyes, and it is absolutely terrifying in a release about the android engineered art says quote, human like artificial intelligence needs a human like artificial body, adding it is meant to test a i and machine learning systems. now, according to the website for the robot, it is available for rent and purchase for an unspecified amount of money if you would like to terrify a friend family. busy member, or even
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a large group of your coworkers, this is too much, i mean, we really mean that they say we need those the life like facial expressions, i would argue we don't. robot overlord, look like me by peter robot. i'm fine with it. they could do tasks and stuff, but what it looks me in the eyes and know is what i'm thinking. that's where i get a winner. you and then that's before that to, that's it for the you can catch boom bus on demand on the board will be available on smartphones and tablets. you google play in the apple app store by searching portable tv where it won't see if you can also be downloaded on samsung smart tv, roku devices or simply check it out at portable dot tv. well see you next. me. ah ah, you all did what they did
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a valuable la. hi mirror. now are you on the head up my lab that i even though i just don't want to lock in indianapolis, i love bob again thought, no, well i'm going out there to be a well, i mean a relationship with sonya. not in that and all that money printing is driving up the energy costs and it's gonna force russia into the you and for that to happen, nato and american military has got it. exit germany, i call it air 1st. you say,
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i'm crazy, but that's what i'm calling with the russian president and indian prime minister wrap up top level talks and new delhi just the day before lot of air pollutants planned video conference with joe biden. the kremlin spokesperson, who's in india with president putin slams nato's aggressive stance on moscow commentary pest called the spoke exclusively to our teeth movie. damage on that issue. and now we see that nato is taking an extremely aggressive position to receive mr. still some of the rhetoric we see the difference us to the dispatcher. if we do not to live, we will do everything to ensure audio with . that's the message from president invited. as western media goes into overdrive with alleghany.


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