Soon as possible when asked about the 5 demands lam said the independent Police Complaints council will be conducting a fact finding study to be released in approximately 6 months their report will include Police Brutality and those who have filed complaints on the anti extradition bill although lam again reiterated the bill is dead the crowd pushed on why the word withdraw has not been used meantime antigovernment protesters are gearing up for another weekend of demonstrations we spoke to one organizer who included an additional demand on allegations of surveillance in the kuantan district well continue to insist on our 5 demands and on top of this we are going to voice our concern on the intelligence street lights is bought by the government on various districts including the quinton district well go with that when the government setting up these kind of smart street light. Its you know in our city there are comes all these kind of like street lights and then these kind of care and be equipped with Ai Technology can recognize our faces and when we were captured by this cams dont we will be under surveillance of the government but some on the progovernment side dont understand why the protesters are not yet satisfied i have been trying to find what it is that you know Something Like an extradition bit we want to say i want to extradition bill is right. Even if you say is wrong is not gone so why are we why is hong kongs to hold this term or despite the government and protesters role the media has also played a major part in the movement at the forefront since day one principal reporter from the local stan news described his struggle as a journalist and i seem to be. Too free society. Seems to have some 70 degree of freedom of press about. Getting. Worse and suspecting it to get even worse because. According to some reports. Chinese officials when the evaluate what happened from june to august. They think that one of the favorite is the player to control the media this all while twitter and facebook banned hundreds of social media accounts believed to be connected to china those targeting the ongoing hong kong protests and accusations of an alleged Propaganda Campaign to control the protests narrative if theres any Common Ground from both sides perhaps that that they want to avoid a prolonged conflict and restart stability to their island reporting in hong kong fairmont to stay oka r. T. Meanwhile Chinese State media is warning the United States not to connect the hong kong protests to the ongoing trade negotiations between the 2 nations and an editorial published by the state run peoples daily on monday the publication said the 2 situations should not be linked characterizing the hong kong protests as an internal matter writing quote making off for us about hong kong will not be helpful to economic and trade negotiations between china and the u. S. They would be naive in thinking. China would make concessions if they played the hong kong card another editorial published in the global times which is run by the peoples daily shared a similar sentiment saying the u. S. Should stop its meaningless threat of linking the chinese us trade talks with the hong kong problem beijing did not expect to quickly reach a trade deal with washington more Chinese People are prepared that china and the u. S. May not reach a deal for a long time. And despite the calls to not relate the protests in hong kong to the trade talks president on trumped waded into that exact territory at an airport in morristown new jersey on his way back to the white house. I think it would be very hard. If they do. Violence i mean if its another the Tiananmen Square i think its a very hard thing to do if theres violence. During an address to the Detroit Economic Club u. S. Vice president mike pence also urged beijing to resolve differences with protesters and that it would be harder to make a complete trade deal if there is violence in hong kong. But for the. Beijing. Its beginning. To respect the hong kong laws too just to show. Just yesterday it was much harder to make a deal. To survive in hong kong. There is certainly a lot to unpack here and to do just that we are fortunate to be joined by surat gupta a senior Asia Pacific International policy specialist at the institute for china american studies. Thanks for coming back and 1st of all the u. S. And china seem to be making parallel or mirroring statements here and while the Chinese Government may have been trying to push the hong kong issue away from the table where theyre negotiating with mr trump it seems like theyve still affectively by invoking them created a connection between the issues and mr trump just waited right into and created a bit of a red line here are these 2 tracks of the trade negotiations and the hong kong protests already effectively intitled entangled and isnt a chinese intervention and therefore u. S. Pullback from trade talks becoming increasingly likely the longer the protests continue. Yes they are partly in tangled and there have they will become even more entanglement if china makes sticks of violent action in hong kong i would submit that the chances of the chinese entering and taking a while into action to to quell the protests is very very low and therefore the protests the trade talks will stand or fall on their separate merits and not so much because of hong kong and frankly i believe i would say that the sale of the f. 16 still taiwan is a bigger factor in determining chinas responses and its growing lack of trust in the United States than the situation in hong kong frankly thats a very interesting insightful comparison and thats very helpful and looking at how this could play out executive kerry lamb said on tuesday that she could see a way out her words from the impasse whats being discussed what she proposing and how likely is this trial balloon to fly and produce a real resolution here. This trial balloon act. We could prove it could create the basis of a resolution it is a starting point what i will say about the hong kong protests is its been going on for a long time but theres no guarantee that it will continue for just as long the protesters effectively exercise during night time during the week and on weekends throughout the week and come september a lot of the students are going to be going back to school theres talk of a boycott of school on monday as a cetera et cetera but so long as there is no violence i think the Hong Kong Government has begun to bend in terms of being open to a to a judge led Police Inquiry inquiry of Police Actions theres again repetition of the extradition bill being dead and i presume the the word withdrawal is being held back once once the negotiations actually begin but what i would think shes trying to do is begin an ongoing dialogue with Broader Civil Society including the protesters once a while and seems to get tamped down well have to see if that comes about to not and even before this latest round of tough talk between us and china we saw some other economic consequences of the protests in the resignation of the c. E. O. Of Cathay Pacific airways now a legislator who sided with the protest movement has also resigned from a position with cathay why did he quit and are we going to see more similar scenarios i can say and perhaps at other companies as a project go on. Cats it has been a very interesting example out here simply because it is so heavily linked with with hong kong its one kongs main main carrier i was in hong kong last week and the and Hong Kong International airport are still with cathay but Cathay Pacific aircraft the legislator resigned he had been an expired lit with cathay i think he was he felt he was bringing negative publisher. He took after making things harder for them but also as weve known beijing is applied from stringent rules out here including denying any captive pilot caught up in the protests from not just one cafe but flying over chinese airspace and so i think beijing has really targeted on the place a finger on cafe Hong Kong Government have to have followed that line and i would submit that kathy is a very specific info company and that this is not necessarily the case that will be more widespread i believe there was a full page advertisement recently by by by forbes who worked at some of the big accounting phones what they did it in their names and not under the name of Anthony Young et cetera et cetera and the companies have been has. Have chosen to not not to be at associated with that advertisement so i think companies will be in there theres a lot of money frankly to be made in hong kong and companies are just going to be a little cautious on this front and rather than get ahead and support the protests that spread inside is always from sharab gupta of the institute for china american stories thanks for joining us. Youre most welcome. And even with a 90 day reprieve in the contentious fight between the United States and china and states and while way of china the chinese telecoms founder said in a monday memo that this is a live or die moment for his company in the internal memo wrenching fate called on his team to work more aggressively to meet sales goals and said the company will go into quote battle mode to stay relevant in these trying times adding the company is facing a live or die moment if you cannot do the job then make way for our tank to roll and if you want to come on of the battlefield you can tie a rope around the tanks a political long Everyone Needs this sort of determination mr wrenn rand went on to promise the firm will remain steadfast during this crisis and he ultimately expects survival for weiwei. Meanwhile the worlds lot 4th largest smartphone suppliers shalmi reported an 87 percent drop in net profit for the 2nd quarter 2019 the beijing based Tech Companies net profit fell to 2000000000 yuan in quarter 2 down from 14600000000 for the same period last year revenue grew by 15 percent in the same period to up to 51900000000 yuan up from 45. 2 in the 2nd quarter of 28. 00 team the revenue increase was fuelled by an increase in the price of the companys phones on the news the companys stock saw a 3 percent increase in trading on the hong kong stock exchange. Time now for a quick break but stay tuned because when we return there is big news for the banks as the f. D. I. C has adjusted the much discussed vocal rule but more importantly what does this mean for consumers bartlett neighbor a Public Citizen lend a hand to break down what the rule change means especially in the wake of all those rate cuts and finally over to you where the latest crisis is unfolding in italy as the nations Prime Minister has announced his resignation argues alison hill that strong is the show to give us a look. Commune folding in the euro zone. And as we go to break here are the market numbers up close. To what weve got to do is identify the threats that we have its crazy confrontation let it be an arms race. Spearing Dramatic Development only mostly im going to exist i dont see how that strategy will be successful very critical. To sit down and talk. Interest rates spike gapping in the spread is widening and what i call the Interest Rate apartheid if youre in the wrong side of the premise of Jeffrey Epstein you bantustan of extortion ery credit card right if youre a friend of jeffrey abstain then you get the insider rate of negative and you get paid to lend money or to borrow money excuse me from the bank. And we said. Theres enough. But im also the most companies he knows ive been there gives these. Numbers he must be told even though he goes from didnt you know just to say hes just put to you im sure im cold. The. And you see that in the little you. Get is that it will. Always be in the in the to your list. So to. Speak is the. Welcome back to spotlight of scrutiny on big Tech Companies in the United States is about to become brighter as attorneys general from as many as 20 states are reported to be preparing a massive antitrust investigation the New York Times and wall street journal both reported on the investigation planning with the journal citing sources that say forming processes could start as early as next month amazon apple facebook and google all face obvious and serious risks from an investigation into anticompetitive behavior given their increasingly integrated roles in many sectors of commerce creating many niches for market power to be exploited and for investigators to scrutinize over a very long term big will now have to deal with state level scrutiny added to a broad investigation by both the Justice Department into antitrust issues in tech and an antitrust probe into facebook by the federal trade commission. And staying on the regulation and enforcement be a much discussed Financial Post when National Crisis form is so called so so called vocal rule is set for a significant change at the federal Deposit Insurance Corporation or f. D. I. C gave the green light to a proposal involving 5 agencies with relevant responsibilities here now to sort it all out for us is Bartlett Naylor financial policy advocate at Public Citizen now bartlett 1st of all lets. Minor sells what was the volcker busy rule why was it so important that it be passed postcrisis and what was the role of that rule in solving this problem of proprietary trading that we hear about the 2008 financial crisis took place for a number of reasons but one of them was that large Financial Institutions made some pretty disastrous that spare stearns went bust because some of the positions on its trading book were found to be far less valuable than bear stearns had represented to the public did a layman brothers even after the financial crash j. P. Morgan self professed best managed bank in the world lost Something Like 6000000000. 00 when a couple of guys made a bad bet so the financial crisis crash and banking stability generally can be jeopardized when proprietary trading thats the speculation that takes place goes awry section 619. 00 of the 2010 dodd frank law known as the volcker rule after the former Federal Reserve chairman basically says dont trade with the positives money it has a bunch of exceptions those exceptions are the problem what happened today and will happen is that the regulators are relaxing those guardrails on proprietary trading right and so the specifics of what they voted on today center on the definition of proprietary trading essentially expanded that can you go into the details of exactly what the term now will be construed to mean they took what they took away from a proposal last year was the socalled fair value accounting prog fair value means that if you have a whole bunch of assets and accounting rules require you to mark them as if they are traded today were going to consider them subject to the volcker rule restrictions and they took that away what does that mean numerically director marty grown burge enumerated that about half of the specular. Nation assets are half of the assets f. D. I. C insured banks more than 600000000000. 00 will no longer be subject to the volcker rule they basically will be able to be traded at will with no cops watching whether or not thats thats a problem and could blow holes through the Banks Capital Base right and that member the vote was 3 to one at the f. T. C. In the dissenting vote board member and former f. D. I. C chair martin groom burge said that under the rule approved today on tuesday he said the vocal rule will no longer impose a meaningful constraint on speculative and proprietary trading by banks and Bank Holding Companies benefiting from a Public Safety net that sounds pretty serious whats the worst Case Scenario of what could happen after this change whats worst Case Scenarios that can blow through their capital and again capital is simply assets minus liabilities and the Banking Sector is only about 6 but that that difference is only about 6 percent so when you allow the likes of j. P. Morgan to be morgan has 1. 00 trillion dollars in deposits 800000000000. 00 of that goes back out in the form of loans but the other 600000000000 is being traded if only a small amount of that is lost and you lose money in speculation far faster than you lose it and alone then we can have Serious Problems on our on our hands we can blow through that very thin level of capital at the likes of j. P. Morgan right and its striking that were talking about this relaxation of this guardrail as you say at a time when recession fears are increasing so following the logic through what could happen if when this intersects with perhaps a coming recession the single biggest problem with big banks right now is that they are making too many leverage loans that means loans to company that are already in indebted when the economy falters those are going to be the 1st companies to default what a bank will do. Trying to maintain margins is double down arguably on its prop trading to make up where theyre making losses in its Loan Portfolio so it can hasten the insolvency of a big bank very Interesting Times of living through get good to be guided by par bartlet naylor a Public Citizen thanks for your time thank you. A split in italys populist Ruling Coalition has prompted the countrys Prime Minister to step down Giuseppe Conti who held the position for just over a year is blaming his right wing interior minister Matteo Salvini for the political crisis which could potentially weaken italys economy and status in the European Union with more were joined by archies alex a hell of it in toronto al its good to have you back italys now former Prime Minister conti is saying demands for a fresh election from within his coalition are both selfish and irresponsible what do we know about this latest squabbling within this fractious coalition. Well as you mentioned hes blaming everything on the table salvini who is an interior minister and also the leader of the league party now think back the lead party used to be a separatist party and for the for northern italy to separate from the south and then they became all loving Italian Party but they are far right and theyve joined forces with contacts party 5 star which is also seen there both seen as populist and euro skeptic now there are differences though obviously which of fracture these 2 parties immigration being one of the big things the league is anti immigration kaante is not that kind of man he hasnt signed off on keeping immigrants off the beaches and salvini was ticked off by this as well as many other things like condi is done hes basically said the content hasnt done enough for italy what condi is saying those of you just taken advantage of a situation here theres a rift in the party the league is polling high this guy is all about himself and his party its not about italy well salvini will say its all about italy i am the guy whos the nationalist and im fighting for my country so this is whats happening here and this is why this coalition is split and our continent has resigned and as you mentioned immigration has been an area tend to within the coalition also Economic Issues have caused the leaders to butt heads so what does this sort of stalemate now mean for italys already fragile economy. Makes things worse obviously were talking about it unstable government a government thats cracking at the seams which means that both the Financial Institutions of that country as well as government institutions are weakened at this point which is obviously not good for the economy now were a lot of people are looking at this as a chance for an another election to be pushed thats what everybody thinks salvini wants but thats not a certainty we have a Prime Minister we have a president the president of italy can stop that from happening he can actually form a coalition with the Democratic Party that would be moving more center left and leave so totally out of the equation so. As it stands right now obviously this isnt looking good internally in italy its a ready a country that has knots of debt even though it is one of the 8 largest economies in the world and when Something Like this goes down well it just makes the country look on stable to investors right and speaking of the view from the outside the e. U. Is also very concerned about this obviously when you have a prospect the trivial prospect of a collapse in a eurozone economy the e. U. Takes a big interest whats their view of this and others in other stakeholders on the continent. Well obviously the e. U. And other investors in italy are worried about this as i mentioned you know that you have a Massive Public debt here and thats very worrisome and on a side from that when you have a unstable government like were seeing right now that signals a lot of bad things but you know what when it comes to bondholders there is a bit of an upside here here lets look at this chart it gives you an idea of whats actually going on when it comes to money being invested in the country and whats interesting here is that you definitely see a dip when this crack happened a few weeks ago when you things were looking at red alert here that this is this coalition is going to fall apart but now just with the word put out just a simple word that there might be no reelection there actually is are no new election i should say that they might be avoided and that the country could build a new coalition as weak as that would be because just imagine the Democratic Party with 5 star these are 2 very different parties it would be a Weak Coalition and but its still there is the chance of avoiding another election what bondholders are as well as the e. U. Are worried about is a cell vini government which would go far right and obviously sylvia has been talking about just putting the country more in debt getting you know spending more money on italy which worries everybody especially europe which is so worried about that debt in the 1st place very interesting situation hes just back from mentally 10 rested ready and well informed our correspondent alex mail that thanks so much. Thank you. Thats it for this time you can catch boom bust on you tube dot com slash boom bust our team see you next time. Cash cow and. Our phones were among. Those chasing page. Dard. His 1st words were added i will see youre a challenging post youve got 2 years to live. I have no doubt that what happened was criminal. Offense concentrate makis 1000000000. 00 industry these companies how to shoot each financial motivations to solve these problems there are numerous showing that doctors work keen to test facts right concentrates free in fits of its own that patients wont give them doctors the wrong stoplight. Terms why they would get me sick each of those years day. And people still die i dont always question or so i tried being hard to live when so many have. Banks geysers financial survival you know they say money to develop. A plan to take it easy this is a central plank support diet plan is kind of a problem right now so you stop to. Oh why a paradise with so much all year round turned into a round the experimentation field the agricultural chemicals we know that these chemicals have consequences they are major irritants theres no question otherwise why would the Chemical Company workers themselves be geared up that suited up locals attempt to combat the on regulated experiments but often in day you have many of these people who have one foot into the biotech pharma and the other foot in the guy. And regulatory bodies this kind of collusion is reprehensible while the battle goes on the chemicals continue to poison hawaii and its people so one has to ask the question whether there is a form of Environmental Research going on in hawaii whether these Companies Feel they can get away with suits because the people have less political power. Because you. See. It least Prime Minister resigns and accuses interior minister vini of pushing the country into a political crisis. U. S. Attorney general william removes the acting director of prisons for the suicide of Geoffrey Epstein we discussed the conditions at the jail where his life with his full blown lawyer. Was fundamentally wrong with that is that jeffrey had steam did not belong to much of syllabi to begin with. The u. S. Military and thats his plans for a new intermediate range Hypersonic Missile itself the pulling out of the i. N. F. Treaty with russia and test launching a new cruise missile