A Digital Payment systems in which the currency is created on privately owned computers using a technology called. Value is determined purely on that demand and its been so strong that the Exchange Rate for one bitcoin not likely to set any record. Because one has never ceased to surprise markets and now they want to cash in on the rush the Worlds Largest Derivatives Market place the Chicago Mercantile Exchange group says it will start offering big calling futures by the end of the year in recent days three hundred thousand users are reported to have signed up to bid going bring the total to over thirteen million but its still quite hard to actually buy things with it a slew of Trading Platform such as fancy dot com and fast checked out come for everything from armchairs to ferraris and watches but these are peer to peer sales platforms you wont be able to exchange your big coins for that flash b. M. W. In your local showroom. But they can buy you some things. There are coffee bars that will only accept because like this one in prague you can book that perfect trip to the mall deeds on expedient with call ins and speculation is rife that amazon could soon accept big cohen for payment. With japan also recognizing bitcoins as legal tender it could be said that the crypto currency is future is looking good so if bitcoin doesnt actually crash itll probably be only a question of time before the broader economy has to join the rush. And joining us now from new york is jacob any a softie runs the chevy Digital Assets fund which invests in cryptocurrency is like but he left his job at Goldman Sachs to do you say back in twenty thirty thank you for joining us jacob now because it is certainly a volatile currency so how wild a ride has it been for you and your fun day over the past four years. Well its been a crazy ride for all of us sometimes crazier than others this year in particular but this years ride has been distinctive because its been pretty much straight up whereas a lot of us who have been around a little longer remember twenty fourteen when the price of decline dropped over eighty percent very painful for those of us who hadnt expected a year like this so how high could you see it going and how do you know when its actually correcting in terms of value because this is uncharted water. Yes well these are Uncharted Waters in terms of the price weve never been anywhere near ten thousand dollars before and its only a month and a half ago that it first hit five thousand dollars so that gives a sense of how quickly its its happening but if you look at the charts a big coin and you go back to the eight years in or nine years of its existence there had been passed a tremendous spikes in two thousand and eleven and it went from i think from two dollars to thirty dollars and then back down from thirty cents to thirty dollars and then back down below two dollars so it fell more than ninety percent and in two thousand and thirteen when a lot of us heard about that coin and i had had a similarly crazy ride up but then also down so the ups have been followed by downs and thats likely to continue do you believe the hype do you think that it could reach over forty thousand dollars for example by the end of next year some people say. Yes i do think that i think there are reasons to think fundamentally it could be worth a tremendous amount in the distant future or even in the near future but that its just we have to expect a very wild ride between now and then and anyone who is hoping that it will reach that kind of high has to remember it could easily drop by double triple that so its its very unpredictable of course a six trainee sensitive to News Development so i mean how much of your job is waking up in the morning and looking at News Developments and getting a feel for how the currency might move in light of that. You know that is a big part of my job is just keeping track of whats going on but a lot of it also is longer term developments the short term price movements are crazy in are very hard to predict what a lot of us are more interested in is what is the future of this is what it is going to be widely used in ten years is it going to be replaced by another Computing Technology is it just going to turn out to be just a fad that came and went so the long term is a little easier to make out and in the long term i think the future of this technology is bright the ability to send money from one person to another without any organization or company in between is very powerful and i think that has a great teacher. That is true a lot of people there or supporting out the fact that its on regulated it could crash and investors could lose the lot ok thank you very much take it off who runs the digital fund aid new york much as it thinks that u. S. President trumps pick for the Federal Reserve Jerome Powell has suggested the central bank is likely to raise rates in december during its next policy meeting paul told at the Senate Banking committee the case for raising rates a strong the rate hike is likely to range between one point two five and one point five percent and it would be the fifth in two years despite being a republican paul has said that the u. S. Central bank will continue his predecessors policy of raising Interest Rates gradually. Lets bring in our financial correspondent sophie ski in new york now sophie investors will have been listening closely to what jay powell had to say how all they reacting to his proposed normalization of Interest Rates well pretty positive way helen are when it comes to Interest Rates powell is quite close if not completely in line with janet yellen as investors love this because that makes him predictable he might move a little faster though with further rate hikes than yellen might have done that something but in a hearing today in front of the senate commenting he declined to give a specific answer on whether the central bank would raise rates later this month but he said that he things the case for raising Interest Rates at our next meeting is coming together later and the hearing here added that he expects the gradual path the fed has taken so far to continue now we understand that hes been grilled on capitol hill what issues would he have been taking those burning questions on. Well we just talked about his plans when it comes to Interest Rates he also talked about drinking the Balance Sheet another part by the way where he agrees with janet yellen and then senator and wall street to watch stock Elizabeth Warren had some tough questions about regulation power said he doesnt want to make these regulations any tougher he doesnt want to lift a part of the Regulatory Burden especially for Smaller Banks so if youre on ski on wall street thank you the World Economy is growing at a faster rate than it has. The momentum is unlikely to last that is the conclusion of the o. E. C. D. Report called released today to globalization as the driver of growth at a time when protectionist tendencies a growing around the world. Bank is one of globalizations winners they produce fans in Germany China india and the us everywhere demand is climbing employees worldwide profit from it is a trend that has been confirmed in a study by the organization for Economic Cooperation and development or o. E. C. D. It states that people in industrial as well as developing countries profit from globalization and the outlook is good the o. E. C. D. Estimates the Global Economy will grow old bike three point seven percent in the coming year that would be point one percent more than in twenty seventeen according to the o. E. C. D. The u. S. As the Worlds Largest economy will grow considerably in twenty eighteen but the euro zones growth will be slowing down at only two point one percent growth thats mostly due to braggs it and the unsolved debt crisis in Southern Europe for the first time a decade the world is growing in sync. This is none of the large economies are experiencing a recession despite the positive outlook there are some risks an alist say investments are too low around the world to maintain long term growth and the problem is that indebtedness of households and corporations has reached record levels in many countries particularly worrying the high levels and continued growth of corporate levels in china given the importance of china to the World Economy also concern the high levels of Household Debt in a number of advanced economies mainly associated with mortgage lending economists are also calling for wages to be raised that way ordinary people can also play a bigger role in driving Economic Growth germany still doesnt have a new government but apparently that isnt hurting business German Companies are still posting profits in the latest figures from germanys society for Consumer Research g f k show that Consumer Confidence is rising. It will soon be christmas the most important time of the year for the Retail Sector in germany the industry has been doing well low unemployment and a robust job market have been fueling consumption since two thousand and twelve germanys most important Consumer Confidence index has almost always been rising steadily reaching ten point seven points from six points half a decade ago germany isnt alone things are looking up to the Retail Sector in the euro zone second largest economy in france Consumer Confidence levels for november beat Market Expectations making it the first rise in recent times the survey shows that the french are more optimistic about the future giving the Retail Sector something to celebrate about this holiday season. Thats it youre up to date with the latest from the wild all business thanks for watching and see you soon. Hijacking the news. Where i go from the news that is being hijacked journalism itself has become a scripted reality show its not just good versus evil us versus them black and white. In countries like russia china turkey people are told that it sets up and if youre a journalist there and you try to get beyond that you are facing scare tactics intimidation. And i wonder is that where were headed as well. My responsibility as a journalist is to get me on the smoke and mirrors its not just about being fair and balanced or being neutral its about being truthful. When he was born golf and i work in need of a. Timely process bio diversity. He said that the current gross no one enters a listed in any tests in the last five months so we are happy. Global i. D. S. Presents ourselves from all over the world. Traditional knowledge this is a dream world if you use it to make it it will help ease pain. Projects i live on the coast i feel its my duty to protect the area and thats why i bring my students here so that they learn to love nature as an angel visions of what our strategy is based on the traditional lifestyle of the people as a way of preserving the environment for future generations out of uniform. Global ideas
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