A c limited will go public on wednesday and is looking to raise 6600000. 00 in what is expected to rank as the 2nd largest i. P. O. Of the year shares reportedly will be priced between 2730. 00 hong kong dollars in the listing a. B. In. Zone president jan craps had this to say regarding the impending i. P. O. For its. Position to be. A challenging environment at the same time. As it is a champion. Its. The best Financial Center for us. To do this thing. Is a very strong foundation. A very bright future. As a Financial Center. In july the beer brewery called off apr. Yes hong kong i. P. O. Plan which had ambitions of raising 10000000000. 00 they cited concerns over market conditions. And many in the oil market are taking a 2nd look and exercising some Due Diligence on the security of their supply in the wake of the drone attack by hoofy militias in yemen who say they see carried out the attack against Saudi Oil Facilities taking about 5 percent of Global Supply off the market rosneft the Worlds Largest oil company is moving quickly to offer deals for reliable future supplies to india on tuesday rosneft chairman igor suchan were met with indian minister for gas and steel dementor production in new delhi for talks on terms of trade in oil rosneft confirmed in a statement that tuesdays talks were occurring in light of the recent attacks and said both sides agreed to accelerate cooperation aimed at strengthening indias and Energy Security and supplying indian consumers with quality crude in oil products rosneft has considerable room under a recent deal with opec to increase output levels as well as a technical technical capacity to do so relatively quickly and imports roughly 80 percent of its crude oil supply while rosneft holds a 49 percent stake in the owner of madame r. In the 2nd largest oil refinery. And joining us now to discuss Interest Rates metals and all your favorite topics is peter schiff of Euro Pacific Capital peter welcome back and theres so much to get to sense we last spoke but including oil but i want to start by getting your take on the latest Federal Reserve news breaking tuesday afternoon an Interest Rate cut is of course expected at this weeks open Market Committee seems like a fait accompli but in the meantime the wall street journal says the fed reportedly had to take action to keep the federal funds rate in their target range with 53. 00 1000000000. 00 d and repurchase agreements fox business and other outlets say was caused more closer to a 75000000000. 00 intervention. Diagram the mechanism of this intervention for us and what are the implications of this fed action moving forward. Well 1st of all i think the Financial Media and wall street is being must too complacent about whats happening in their their their instinct is to sweep it under the rug is no big deal but i think it really is the harm injure of whats to come because you know the Federal Reserve has been artificially suppressing Interest Rates particularly since the 08 financial crisis and by keeping Interest Rates artificially low they have created a bubble thats much bigger than the one that popped in 2008 and what happened this morning is that you can see the air coming out of that bubble because the market is trying to bring Interest Rates higher because we have no real savings in this country we have enormous debt everybody is levered up to the max government the private sector business consumers because rates have been so low we borrow so much money the market wants Interest Rates to be higher but the fed doesnt want to allow that to happen because the role the road back to normal Interest Rates is a very bumpy one because its going to take us right through another financial crisis so the fed is trying to keep Interest Rates artificially low and they they almost lost control of it this morning now they created what 5070000000000. 00 out of thin air to supply the credit that the market needed but what happens next time what happens if we need 100000000000. 00 what happens if we need a trillion because eventually we will eventually the fed has to choose between destroying the dollar and allowing the market to bring Interest Rates to a level that makes sense for an economy with this much debt and then all hell breaks loose because we have a much worse financial crisis than the one we had an 08. There and on the feds f m o c meeting coming up youve been in the consensus that pretty much everyone expects another rate is coming you think thats definitely not a good thing in your view what are your thoughts right now as they prepare to go further into arguably unprecedented terror. For Monetary Policy this week. Well yeah the fed definitely should not be cutting Interest Rates now the economy is going into a recession but the cure for what als us is not lower Interest Rates we need to go through this recession and higher Interest Rates are part of the cleansing process is painful as that process is now going to be but the Federal Reserve has no stomach for doing whats right so they will cut Interest Rates because thats what the you know the addicks on wall street demand so were not going to have a Real Recovery were just going to try to maintain this bubble but i dont think its going to work i mean i do think the fed is going back to 0 i think theyre going back to quantitative easing they may even go negative who knows theyre going to throw you know put everything out there including the kitchen sink to try to prevent Interest Rates from rising to try to prevent this bubble from deflating but they are going to fail and staying on this theme today you tweeted an item with an eye grabbing headline a very violent move in the bond markets tell us about that violent move. Well we just discussed it a little bit earlier today as far as in the short end but you know i am expecting a more violent move from the long end of the bond market i mean that is where the biggest part of the bubble is i mean 30 year u. S. Treasuries are barely above 2 percent i mean who in their right mind would loan government the u. S. Government money for 30 years youre not getting your money back for 30 years and all youre going to get is 2 percent coupons for the next 30 years waiting to get repaid look at the price of gold moving above 1500 thats a very good sign that the people who are waiting to get their money back 30 years for the are going to get very much of anything as far as purchasing power so that is where the real danger is when the long end of the market really starts to implode and you know that could happen any day i mean it probably wont happen tomorrow but one of these days it will happen tomorrow and speaking of implosion then where people go in. Situations like that gold there has been some crime blotter material from the Metals Market this week again from j. P. Morgan 3 more traders in their metals desk including the former head of the desk were charged with spoofing. Deceptive orders to manipulate Metals Prices between 22016. 00 and they were charged under the us rico statute which is an organized crime law which is interesting they also face a federal Class Action Lawsuit over their actions in silvers futures because this story of market manipulation played out within the sector or at j. P. Morgan or could we see more similar scandals in the future. Well you know i dont know and i know a lot of people in the gold market have long believed that it was manipulation that was responsible for the suppression of the price of gold that somehow gold would have been much higher but for manipulation of banks like j. P. Morgan and maybe some of those people are feeling vindicated based on this news but i dont think this type of manipulation is what those people had in mind when they were thinking about keeping the prices of gold and silver down i mean i dont know that that was the goal of the manipulation it seems like they were just manipulating markets to try to make more profits for themselves and i dont know that they cared which direction the market moved as long as they made money off of those movements and so they tried to manipulate the markets to their own advantage i dont think this was why the price of gold is not much higher i think its not much higher because too many investors dont understand whats going on they know they have confidence in the Federal Reserve other Central Banks they believe in this bubble they are as fooled now as they were going into the 2008 financial crisis the difference was they were bailed out last time as wrong as all the experts were on wall street in other countries who couldnt see an obvious crisis coming when they were blindsided their pals at the Federal Reserve and other Central Banks were able to bail them out its not going to work this time it doesnt mean the Central Banks wont try but as i said it wont succeed theyre going to destroy the doll. Or in the process maybe bring down the entire feet out Monetary System and gold is already rising gold is telling you that on the ashes of this old system were going to resurrect the Gold Standard because thats what we had prior to the dollar taking taking over we had a much sounder Monetary System then we had a more viable Global Economy you know once we took the money out of the economy once we substituted real money for fear that was the beginning of these problems and the end of these problems is going to be returning to honest money which is gold and you know to go from here to there is theres a lot of problems that are going to come to the surface theres a lot of defaults and bankruptcys but at the end of this title there is theres a lot of light but hopefully we can avoid the on coming train an excellent guide to Interesting Times peter schiff of europe percenter capital thanks for joining us. And time now for a quick break but stay tuned because when we return we take you to singapore where christine minister up again with International Investors to get his take on the state of the Federal Reserve and the stability of global Interest Rates and as we go to break here are the market numbers. They all see themselves as dying swans in their dreams. But only one in a 1000 will ever make it to the top. Theyre ready to give their lives for the chance to die on stage if only once. Not even broken wings can determine. For generations at the madrid ski theater ballet sweat and tears on o. T. Pain your existence crossed started 10 years i think its time to shake things up maybe change the branding maybe the format here is what ive been thinking about next season related episodes filmed on an island 10 experts fight it out for a trophy what do you think ok a more affordable option 25. 00 experts. One red rose another suggestion geo political jeopardy parody no political cookout where we will literally wrote the elites. Late night show its a rare form out these days and its chief all you need is an old microphone in a printed banner but actually meet with them i guess i can do this campbell after politics gone wild like music. Ok crosstalk is not about hype its about meaning 10 years of talk and still going strong. Peter if you want to change something why dont we get rid of the bow tie no that is too much. Thousands of american men and women choose to serve in the countrys military and the decision. Every came to a complete. You know what they kill me and i see how it destroyed my life any screamed at me in. My own. Right i mean i think if you take into account that women dont report because of the extreme retaliation its probably somewhere near about half a 1000000 women have now been sexually assaulted in the us military rape is a very very traumatizing tapping but ive never seen trauma like. Women who are veterans who suffered military sexual trauma. Is more likely to get the victim punished and the offender and almost 10 year career which i was very invested in and i give a sex offender who was not even put to justice or put on the registry this is simply an hour in violence male sexual predators for the large part whoever is there whether thats a man or woman. Welcome back chinese vice minister for finance well min is leading a delegation of officials to the United States wednesday according to a report from chinas state run news agency should while the trip comes as officials from the United States and china prepare for face to face meetings in october here in washington d. C. The meetings next month will involve chinese pride vice premier. U. S. Trade representative robert white guys are and u. S. Treasury secretary supermen nugent as the 2 sides try to hammer out the details that will bring a truce to the ongoing trade dispute between the 2 countries after the meeting was so that u. S. President donald trump they do in the next hour of pike from october 1st walked. 15th as a goodwill gesture mr lao is expected to set the terms for the october talks with this weeks visit and speculation is that more than just trade may be on the table for discussions. On kristie i may still be on assignment but weve got plenty of content from her coverage in singapore so far weve heard from world Renowned International investor and author jim rogers on the state of the Global Economy and the implications of the ongoing trade war between the u. S. And china today we share another piece from christies visit with mr rogers in which he speaks about the big decision the United StatesFederal Reserve faces when it comes to Interest Rates. Right now we seem to be on a path to a very fast path down mark is there any chance that this can be saved that. Can do what you claim that this is just another myth cycle correction like back in 1905 do you think there is even a hint of truth to that you said things are bad the u. S. Market is within 2 percent of its all time high i do too but i dont know what sort of very special yes yes yes no no no i certainly know its artificial yet whats missed if i was to pound had resigned quickly before i get shot at you 100 basis points loved enough not to know he could get jailed you know with with the people running washington these days i dont see any way to solve this problem now we can continue to print money we can continue to buy bonds government the government can buy bonds and the governments can buy stocks this is artificial its being propped up the fundamentals are not sound and its unfortunate and mr trump has said hes going to have a trade war he says the trade wars are good he says he can win the trade war now thats up to mr trump but history shows thats not going to work that way. We may have an announcement fairly soon of ok everythings all right now. The markets will have a rally. But it will not last because when the economy gets spread in america. Who believes that trade wars is going to come back with a very hard trade blame the germans and the canadians and the mexico to. Blame everybody and then well have a serious trade war and we will have the worst market in my lifetime it doesnt start this month we will have serious Serious Problems over the next 2 or 3 years so a lot of people we can blame the trade war right now everything thats happening but then there are a bunch of people who are always blaming paul and the fed for what they did for tightening too soon theyre saying that when that. Dissipate and build up its inventory in the next recession they started tightening credit they started hiking up rates as well as they started taking liquidity out the market so we actually got hit by 2 types of credit tightening they were destroying money as well as they were hiking up rates so do you think that the fed was actually the one bad Monetary Policy was the one to actually kick start this entire thing is high Interest Rates are still recorded history what are you talking about tightening too much too soon yes the little bit so what Interest Rates around the world are the lowest theyve been in recorded history so what if they go before it so by the way they undergo a lot all over the world are going to go. Central banks will not be able to stop it the market has more money than Central Banks and the market is smarter than the Central Banks all over the world the idea that the fed is causing all of this. Is. Caused all this. That they took Interest Rates to nothing they were greenspan they were the ones who put all this together and said all we have to do is print money drive Interest Rates to nothing buy up assets and everything is ok. This is one of the greatest hoaxes or the greatest tragedies that the worlds going to ever face i mean this has never happened and were all going to pay a very very serious price. Weve had an 11 year bull market but when it comes. Its going to be very very serious i hope i hope we all survive but many of us are not so we tell you as you just said we are in the lowest Interest Rate environment that the world has ever seen but given all of that we have been able to hit our inflation target for the last 7 years well i guess part of the problem is that the government keeps the books and they lie about it i dont know if youve done any entertainment or education or health care or. Is there is inflation in the land the government lies about it they have a reason to lie about it since a lot of things that the government did. To the inflation right so they say they learned to lie about it a long time ago you probably dont do shot youre but theyre probably do your shopping for those of us who dont have but theres shopping we know prices are going up. So right now people dont think that this next recession if we do have it which we both think there are but theres another camp who doesnt they dont think that the u. S. Will get hit that hard because they still say that consumers at the end of the day will save the u. S. Economy consumption represents 80 percent. And we have the tooth fairy and the easter bunny a lot of people go to save the u. S. Economy when things go to greenspan again and they will bring them all back with the tooth fairy and the easter bunny no thats not going to work that way throughout history everywhere when things get bad everybody cuts back and the u. S. Consumer whoever he or she is going to meet who is going to save us all. Is going to cut back. To you know the places like Illinois Bank robbery i mean there are many places connecticut connecticut is becoming a basket case no i think not going to get better when some of these states and cities start going broke yeah consumers was the last bright spot in the entire u. S. Economy manufacturing was down as a result of that interview lets interview all these consumers who are going to say if the world you better bring the tooth fairy with with them knowing that the fed is going to lower rates up another 200. 00 thats probably down to 0 within the next few quarters all of us trade as a Market Participants were betting on that turn driving the market. Do you think that thats a dangerous mentality to have. Been telling could you get sucked in oh they can say this everybody thinks the fed can save us because the fed is always a. 100 years but this time around eventually theyre not going to be able to save us anymore so yes thats a dangerous mentality but in the meantime they can cause more they can keep the market kept the market up artificially for several years months now so we know its i know its not real. But that doesnt mean the bear market starts in september in my view would probably want because theyve got i mean 18 months now but they you know they can pull out a lot of stops mr trump can spend a lot of money that congress can get here in the Central Banks can get scared and. The thing can be resolved seemingly resolved one way or the other there are things that can happen that can cause the markets to stay up for a while but basically underneath this the deterioration is already started and its getting worse it is not Getting Better maybe artificial props that will come out absolutely in one of those artificial props that weve seen in japan and europe where. Negative Interest Rates so i do think that the us wealthy a day when theyre trying to implement negative and but as weve seen in europe and japan it doesnt work you just start digging yourself into this black hole that you can never take yourself out of and youre in a constant loop of not deflation and i think at least. That you make the very good point that yes america can still go that route we can we havent gone to get even Interest Rates yet we can you know ben bernanke you once said the fed has the power to buy anything it wants we can buy money go farms businesses we can stocks we can do anything we want so theres still things which they can do artificial artificial things to prop this up for a while but. Be wary. And finally checking in on the quickly shifting market for recorded music and amazon is the latest player to test whether consumers will pay more and how much for Higher Quality streaming and downloads the new Service Called amazon h. D. Launched on tuesday presenting a direct challenge to previous door insurance a title with a lower price title famously backed by hip hop mogul jay z. And other Musical Artists charges 9991000 dollars and 90 0. 09 monthly for their high def plan amazon will charge only 14. 99 for amazon h. D. And an even lower incentive rate for amazon prime subscribers to be clear in this case High Definition means at least cd quality sound delivered in the socalled lossless walk file format according to amazon Audio Quality has been a percolating issue of concern among artists and fins the issue of sound quality has become a crusade for a legacy artist an inventor of his own high quality audio format and device neil young in countless interviews and in a recent book to feel the music and young was quoted in amazons press release saying earth will be changed forever when amazon introduces high quality streaming to the mast. This will be the biggest thing to happen in music since the introduction of Digital Audio 40 years 40 years ago the final is still the best choice but im all for anything that pushes crappy m p 3 s. Out of a market thats over this time you can catch boom bust on direct t. V. Channel 321 dish Network Channel 280 or streaming 247 on pluto t. V. The free t. V. App channel to 79 or you can always have the stuff at youtube dot com boom bust r. T. See you next up. Were. Going to does it cause you know the falls so. Its a good video to the just. Me shes on that sound a sunspot will not keep you down this time i dont. Need to promote. The stick to the police to use the Police Reports for the way. Thousands of american men and women choose to sin of in the countrys military and the decision. Every song came to a complete. The day that i was right. You know hold a shot kill me and i see how destroyed. Any screamed at me and he made me come in and he grabbed my arm and he write me. If you take into account that women dont report because of the extreme retaliation and its probably somewhere near about half a 1000000 women have now been sexually assaulted in the us military is a very very traumatizing tat happen but ive never seen trauma like ive seen women who are veterans who suffered military sexual trauma reporting rape is more likely to get the victim punished. And almost 10 year career or chose very invested in and i gave a sex offender who was not even put to justice or put on the registry this is simply an hour in violence male sexual predators for the large part of target whoever is there to prey upon whether thats a man or woman. Where were you. 2009. Thats the question theyll be asking kids and grandkids for years to come that was the 1st episode of the kaiser report yes 10 years ago the kaiser report began broadcasting all over the world under the countrys billions of people. So what weve got to do is identify the threats that we have its crazy. Let it be an arms race on this very Dramatic Development only really im going to resist i dont see how that strategy will be successful very critical time to sit down and talk. The world is driven by shaped by one person. Blueberry thinks. We dare to ask. Is radio supposed to just Prime Minister netanyahu could again failed to secure a majority in the conscious 2nd election this year. I need to hong kong activist appeals to congress in washington to paulson act on monitoring the territories we want to be from china in with money for continued economic privileges for the us. The cost of soap would never waste as a Us Democratic president ial candidate joe biden called bhuta ill take that as africanamericans another parenting skills