This is boom bust broadcasting around the world from washington d. C. And beyond coming up disneys purchase of twenty First Century fox could mean more than just antitrust and cable bundle headaches in fact it could mean big changes Global Sports programming well talk to the aftermath of about that plus can we expect a jump in gold prices next year peter schiff of europes effect capital and gold will tell us what we can see now lets get to todays top business and financial headlines. Point might be hovering around seven hundred thousand dollars there are still plenty of critics that say its way too risky to get involved in and you can now include one of bitcoin dot coms founders on that side of the spectrum and the oldenburg c. T. O. And cofounder of the site recently said in an interview with break it investment in bitcoin right now i would say is the most risky investment you can make it is an extremely high risk he added ive actually sold all my bitcoins recently and switched to bitcoin cash although he only reverted to a cash spinoff his criticisms of bitcoin like the high transaction costs and amount of time it takes to complete them came as a shock to many and those surprising comments come on the heels of more bad news for crypto currency with one Major Exchange in south korea shutting down and filing for bankruptcy after suffering its second cyber attack in eight months yappy in which operates the sole based you but exchange ceased trading on tuesday in a statement yappin said the latest hack caused the company to lose seventeen percent of its total assets but didnt specify the financial value. Its losses. And in the latest round of merger news were seeing big moves in the food and Health Care Industries the new jersey based campbells soup is spending four point eight seven billion dollars to North Carolina based Snyders Lance lance is known for its healthy snacks like staters of hanover kettle brand and pop secret all of which will become part of campbells division that makes Pepperidge Farm and goldfish snacks meanwhile Hershey Foods located in pennsylvania is buying amplify snack brand of texas for one point six billion dollars amplify makes skinny pop and other non chocolate snacks at her she is hoping to integrate into its businesses but still the major changes in the Food Industry have not been able to outshine the mergers in health care at least not yet not long after we learned that c. V. S. Is buying aetna humana and two private equity firms announced their purchase of kinda health care for four point one billion dollars the deal mainly impacts kindred at home which employs forty thousand caregivers who serve nearly one hundred thirty patients per day. After disney announced its plan to acquire parts of twenty First Century fox questions about everything from competition to cable bundles quickly popped up but there are just as many if not more about the future of Sports Broadcasting here to talk more about that is Victor Matheson professor of economics at holy cross victor my main question is if twenty First Century fox which is one of the most successful Media Companies in the world doesnt seem value in holding on to these Regional Networks why does disney think it could benefit from them. Well so one of the nice things about these a Regional Network so theres a twenty two what Regional Networks that are put into this deal is. E. S. P. N. Which is part of the disney empire thing so theres some good synergy between them and these local companies so for example you could imagine the local companies benefiting from the branding of the of the big name like e. S. P. N. As well as access to National Talent from the european on on air talent pool on the other hand what yes pm gets out of this is they get access to roughly fifty local teams and the broadcasting deals there and so you have this kind of nice deal where both sides benefit the local companies can benefit from the expertise of the National Company and the National Broadcaster e. S. P. N. Benefits from having all this additional content so as he has said disney went to e. S. P. N. Controls twenty two fox sports or is a Regional Networks that have the rights to forty four professional baseball basketball and hockey teams so is saving e. S. P. N. The main reason why you think disney went after this acquisition. So i wouldnt say this is a primary piece but this is probably about half of the deal really is tied up in these the acquisition of these Sports Products one particularly important thing is in todays modern media world it turns out sports are one of the few things that people still watch live and so its still one of the things that you can actually sell commercial advertising to very well with so many people coming the cable and so many people watching all of their Television Shows either through streaming or by recording it on d. V. R. Those are things were tarred to get eyeballs and from the commercials we watch sports live which means its a lot easier to get people to actually stick around and watch those commercials which of course is where yes p. N. Makes all their money what do you think this deal long mean for consumers or consumers is there anything that you think could change drastically or will it stay the same pretty much. So consumers its hard to know whether theyre made better off or worse off with this certainly one thing yes p. N. Is thinking is if they control both the local sports fans local teams as well as the big National Package that makes it much more difficult for that local councillor to cut the cable completely e. S. P. N. Is typically the most expensive Single Channel a Single Channel in a persons t. V. Cab package pretty able. Yes pm is trying to figure out ways that they can make sure that those local watchers those local viewers that they stick around with the cable package and one way to do it is to make sure that look ive got all the big national t. V. Games on e. S. P. N. But i also have all of your local sports teams favorites the of these new newly acquired local Regional Fox Sports Networks well on monday as panel president john skipper an announced his resignation and in the summer Jamie Horowitz president of Fox Sports National was fired and they both left for Different Reasons but does it matter that both of them are now gonna mean what do you think this might mean for the industry moving forward in a general sense. Well so i think the really interesting question from kind of the National Broadcasting landscape is what happens to all of the you now Fox Sports Networks so what is not included in the disney deal is the National Fox Sports the epis one fs two whether whether those remain as a big competitor to e. S. P. N. Or not one thing that we believe thats happened we dont have all the financials but we believe that the national t. V. Contracts for for fox sports the National Channels were being highly subsidized with the money they were making from their local channels so itll be interesting to see whether fox sports as a National Channel can survive without all of its local futile shinners buter channels bringing in all that revenue is pianos constantly criticized as being too political so do you think by joining forces with fox sports which has been operated by the same people that run fox news and pops Business Network well help that all. So i find that pretty hard to believe again there will be a pretty strong break here again fox news is not part of the deal so with it when we say that disney has acquired twenty First Century fox theyre actually acquiring most of the stuff except for fox news as well as the National Fox Sports so i would suspect that doesnt do a whole lot for e. S. P. N. Sports little image because i think you know again fox news and that very conservative political arm thats going to stay active and is going to stay step separate from this particular deal right well i want to ask you now about the n. F. L. Which has also had some issues over the past year or so to say the least panthers owner Terry Richardson is selling his team over allegations of Sexual Assault and making racist remarks to employees so how much of a risk is his sudden departure to the franchise which is estimated by forms to be worth two point three billion dollars. I suspect that getting rid of the owner. Means that the value of that franchise hasnt gone down in value at all again its something where the centrally as soon as the public knew about these these allegations the owner is separating himself from the franchise while the franchise is still valuable its very unlikely that the franchise will be drug down will will be dragged down by the owner you know unlike for example the Weinstein Corporation getting dragged down by those sexual al misconduct allegations probably not the same thing is going to happen here again based on how quickly this happened and and also of course the identity of the panthers isnt nearly as tied up with the owner as for example the Weinstein Company was with Harvey Weinstein a lot of notable public think errors and business and politics. And even entertainment have expressed interest in buying the panthers including collin capper nick so assuming just for the sake of this question if he had the billions of dollars to purchase the team what would happen if he tried to buy it or if he ended up buying it so the n. F. L. Does have a fairly strict ownership clause where the fellow and at n. F. L. Owners can actually block access of purchasing a team from their fellow owners fairly fairly easily as a matter of fact it is at least rumored and probably more than rumors that the other n. F. L. Owners for many many years did not want donald trump as a as a fellow owner and and in fact in the one nine hundred eighty s. Donald trump essentially started his own rival Football League the us a felt it only survived three years before declaring bankruptcy but basically started his only when the other n. F. L. Owners wouldnt let him be part of his club i would suspect that you would find the n. F. L. Owners not looking kindly on an Ownership Group that is that has concomitant i guess as part of that group they are matheson professor of economics at holy cross thanks so much for your time today thank you for having me. Time now for a quick break but stick around because when we were turned will we see big Price Fluctuations in commodities like gold and silver next year peter schiff will tell us what he thinks we can expect and has a trade spat between boeing and bombard finally on this one and our chief correspondent Alex Mccallum it will fill us in as we go to break through the numbers at the closing bell. Join me every so street like so im im sure and ill be speaking to guest of the world of politics sports business im sure. Ill see you then. Right the worlds biggest emitter of Greenhouse Gases is trying to rein in pollution now leaders in china announced on tuesday that they approved a plan for a Carbon Trading system initially it will cover the countrys Power Generation plants but the intent is for it to spread to other sectors like iron and steel aluminum Petro Chemicals and so on according to the plan power plants will be issued in allowance to emit a certain amount of Carbon Dioxide the plants undershoot their targets and they can sell their excess permits to other generators by having the government put a price on emissions that prevents companies from passing on the environmental costs to the public currently chinas power sector releases three point three billion tonnes of Carbon Emissions per year and this plan might not be in place for at least another year. Back in may an infamous cyber attack known as want to cry hit hospitals banks and institutions all over the world and now the Trump Administration believes they know who did it in an op ed in the wall street journal Homeland Security adviser tom boss or said that it was north korea that was responsible wrote we do not make this allegation lightly it is based on evidence we are not alone with our findings either other governments and private Companies Agree the United Kingdom attributes the attack to north korea and microsoft traced the attack to cyber affiliates of the north korean government he then called on the private sector to quote increase its accountability in the cyber realm to stop north korea and other bad actors from having the ability to launch these types of attacks and the plot of microsoft for investigating want to cry on its own. Cute despite Rising Interest Rates order. Jump in crypto currency prices a new report from the World Gold Council says gold prices will continue upwards in two thousand and eighteen to talk more about this were joined now by peter schiff c. E. O. Of Euro Pacific Capital and chairman of schiff gold peter in the World Gold Council report chief Market Strategist john reid points to increasing Global Income as a reason we can see gold rise but where exactly is income rising enough to make that much of an impact. Well number a lot of the income is a function of more money right if people earn more money because Central Banks create more money they use to additional incomes to bid up prices for everything so i think a lot of prices are going to be rising not just the price of gold but i do believe as more people perceive the and the threat of inflation and see the dangers of what the Central Banks have been doing i think the price of gold will rise faster than a lot of other prices as people have braces as a hedge against inflation as a store of value well then spot lancy the founder of echo bay partners said that we could see gold prices hit seven hundred dollars per ounce in two thousand and eighteen which would be a four hundred fifty dollar increase from the current price we see now do you think hes right. I dont know i mean you know i dont know how quickly the price of gold is going to rise he could be right but it might go a lot of higher than that but it might not quite get that high i mean i think its going higher i think eventually its going to take off but its hard to know exactly when that is going to happen whether it happens in twenty eighteen or twenty nine hundred twenty twenty but i dont think you have to know in order to profit from it i think you just have to buy it because i think that the path of least resistance for gold is up and its been creeping higher ever since the fed first started raising Interest Rates back in december of two thousand and fifteen everybodys been expecting the price of gold to go down yet it continues to climb a wall of worry but its some point youre going to get more buyers coming in off the sidelines and the prices are going to take off but before that happens you know just by now well earlier this year we saw gold rally after the fed announced increases in the short term Interest Rates and the fed has signaled a rate rise of two percent for twenty eight teens two point five percent and twenty nineteen and three percent by two thousand and twenty so going into twenty eighteen with that in mind what kind of Price Fluctuations should we expect in gold or silver. Well what regardless of what the fed is posturing its hard to know if theyre going to deliver on those rate hikes but even if they do is going to be against the backdrop of rising inflation or where real Interest Rates are actually declining even as the fed is nudging up nominal rates much too slowly you know if you look right now at the yield on u. S. Treasuries in euros hedged back to the euro its at an all time record low you know not too long ago you could get two hundred fifty basis points of yield in europe buying u. S. Treasuries and hedging your currency risk today if someone in europe buys the u. S. Treasury the yield is about negative sixty basis points so despite these rate hikes the yield on treasuries is lower not higher and i think that you know those who go even lower as the dollar continues to fall against not only the euro but just about every other currency on the planet while the dollar is down as congress is pushing hard to get a bail in front of President Trump before the holiday break so do you think investors eyeing the dollar in gold are starting to maybe worry over the actual impact of the new tax bill. Well they should be worried if theyre not worrying now because what this tax bill is going to produce is much larger deficits because while there is some relief from taxes there are some tax cuts here its not tax reform it is tax cuts but the tax cuts are going to deplete revenue coming into the government as Government Spending is increasing unchecked and in fact i believe they are underestimating the impact of the deficit because a lot of americans are going to change their behavior as a result of the changes in the tax law to take advantage of the loopholes that they are opening up a lot of people who are now employees are going to become independent contractors and theyre actually going to pay twenty percent lower taxes than what is being assumed when they are judging the impact and i also think a lot of the states are going to change the way they tax their citizens i think they are going to lower their income taxes on wages and salaries and instead have taxes on employers who pay wages and salaries the impact on the employee is the same but what it means is that now the employer can deduct those costs on their taxes and so the government is not going to raise anywhere near the revenue they think from the limitations of the salta duction so youre going to see a huge impact on the deficits which are going up anyway so rising budget deficits are very bearish for the dollar because they mean the fed is going to have to print a lot more money to buy up all the bonds that the treasury is going to have to sell to replace the tax revenue it lost some have suggested that bank coin has been responsible for golds depressed returns but others say that it can be a bit quine because the assets have different uses so what do you think the cause of recent depressed returns on gold are. Well i think youve got the tail wagging the dog i think one of the reasons that bitcoin has been so successful is because gold has done nothing really is spend so quiet the last year and i think a lot of people maybe who might have bought gold have bought bit coins but i dont think that has done much to depress the price of gold but i think that has done a lot to cause the price of bitcoin to skyrocket and i think probably one of the most Dangerous Things for big quite if youre involved in that bubble would be a big increase in the price of gold because once the price of gold starts to move now people want to own real gold they dont need to own what they believe to be digital gold but what i believe is is nothing more than fools gold and so gold going up could really be the pin that pricks the coin bubble petersham c. L. And theyre a Pacific Capital and chairman and ship called thanks so much for your time today and my pleasure. Canada and britain are at a critical point in a battle with the u. S. Aerospace and giant boeing on thursday of the u. S. International trade commission spent today listening to testimony with both sides that says they each other are breaking trade rules our teams alex the hell of it is in toronto with more for us alex whats the latest from the tribunal i know weve been awaiting a decision all day but nothing yet this tribunal is going on the hearings are still going on but look lets break down whats going on what is boeings complaint here now the main complaint with bombard j. S they basically are saying that bombarding is dumping planes into the u. S. And were talking specifically about seventy five c. Series jets that were sold or a deal was made with Delta Airlines the planes were sold at twenty million a pop at the list price is thirty three million and what boeing is saying is that this just is not fair its because the budget gets subsidies from the canadian government that they can bring the prices down so low now we know that back in october the u. S. Commerce department ruled in favor of boeing putting a three hundred percent tariff on the c. Series jets but this is what theyre discussing right now and of course this could be overturned but as it stands discounting chats really the big picture is is not something that is uncommon like weve see it usually is usually about a fifty Percent Discount was uncommon here with a little bit different is that were looking at about sixty to seventy percent thats a big difference so thats i think really what put this on the radar now from the other side were talking about from the canadian the british side theyre saying that theres speculation that boeing itself was also getting subsidies or help from the u. S. Government thats the brits argument and the canadian ambassador also came out and he said that when were looking at boeing aircraft directly is due proof here that boeing is losing anything in this deal that bombard jihads with delta thats a firstly and. Second of all theres a lot of jobs on the line not only in the u. K. And canada but in the u. S. As well and to give you a quick quote from the canadian ambassador the next step up here is what hes talking about is that this is really sort of the trumpets and the the whole fact of isolationist policies that are coming in states and this is what this is whittled down to what are we seeing what we are seeing here is because in large measure the rhetoric that exists in the United States at the present moment and im not just referring to one source of rhetoric im talking broadly about the n. T. Trade rhetoric it has given u. S. Companies the permission to take action they wouldnt have taken before and thats a canadian ambassador to the u. S. So really this is a big picture thing and hes saying that boeing is brave enough to do this right now just because of sort of the trump policies in the way theyre moving so it sounds like there is a lot going on here and you get sort of touched on this this could mean a lot from jobs in both countries but what else could this mean for about size song soured well really look at and i think you just hit the nail on the coffin last in the coffin right there maybe is in a coffin actually lets take the auto company out of their question but you hit it right on the head there were saying that it really comes down to. Jobs there are thousands of jobs in the u. S. Alone were talking about twenty five thousand jobs that rely on itself and when you say jobs think about what happened now recently with the canadian government it was going to buy Super Hornets from boeing and because of this trade dispute it pulled back on the deal thats a lot of jobs in the United States both companies can be harmed by this and like i said a little bit earlier theres really no proof that what bombard is doing the sale to delta that is harming boeing at all so really this is just an emboldened company right now trying to make its way elbows up push its way into the market in a bigger fashion than it would necessarily if the trumpet ministration was not in place are actually correspondent alex mahalla thats thanks so much thank you. A Cheating Website is accusing a new rival of cheating by Trademark InfringementAshley Madison is a self described married dating website and app that uses the slogan life is short have an affair Ashley MadisonParent Company ruby life is suing a new state casual x. For using the slogan life is boring desire a fling reveal lifes lawyers also say that casual exs use of an image of a masked woman pressing a finger to her lips is too similar to their services branding a representative from casual acts told a british tabloid that while their slogan quote took inspiration from Ashley Madison pitch quote our image and their trademark are quite different he said madisons marketing targets married people while his Company Targets a Broader Customer base while casual x. Insists theyre not infringing on ruby lifes copyrights they do worry that they may not be able to match the Larger Companies legal firepower and that changing the image for the app in the apple store as lawyers demand would undo some of their success and branding thats all for now but be sure to catch boom bust on you tube at youtube dot com boom bust or thanks for watching well see you next time. I. Across europe municipalities are taking their water supply back from private companies to me to people themselves with simple song alone even some company elsewhere though they invite private companies to take over the utilities anybody tell us. On the program because. This is. Just to quote them out. Of more use than bill bill if bill brought up locals are ready to stand up for the basic human right of access to water its about water but its also over much more and more its about the hurt and the redistribution of. Debt downwards do you want or will. The single most important social equalizer of our time the internet is under grave threat the decision by the federal Communications Commission essentially gives Internet Service providers the keys to the internet without Net Neutrality will be Economic Opportunity divide only widen for all. How does it feel to be a sheriff the greatest job in the world its as close to being a king as any job there is what Business Model helps to run a prison now we just do it all like a said you know mediocre visitation they dont no one comes in any more we dont have to serve them anymore is Cost Effective thats what they want their bell money that loan they dont give a damn if you give the charge on that theyre vastly paying us to put it back into. The louisiana incarceration rate is twice as high as the us sandbridge what she could is behind such success. Thank. You. Mentioned well thats what the twenty nine you could want to learn. President truman threatens to cut aid to un members who voted against americas decision to recognize jerusalem as the capital of israel. Through these ideas is it dangerous to stay here ok thinking with. Our correspondent is caught up in the latest protests in ramallah as palestinians declare another day of rage against Donald Trumps jerusalem. And social media giant facebook is accused of abusing its monopoly in germany and of inappropriate collection of user data. Says that Foreign Intelligence Services of ramping up their activities in russia trying to interfere in the countrys into