Advanced Artificial Intelligence which will be used to prescribe treatment to doctors and for patients and remember this that over the past year no doctors or patients were told that their information was being handed over to google we have a lot to get to today so joining us here in the studio is the host of the news with Rick Sanchez Rick sanchez guy they have you here by the way hes also the founder of a managing care company in south florida that was recently listed as the Fastest GrowingHealth Care Company in america by magazine and from new york global regulatory attorney Myles Edwards and miles i want to actually begin with you here because the Regulatory Agency looking into this deal is considering whether or not hipaa laws have been broken now we know this that the feds have required that medical records be digitized but that is not whats happening here in fact all the records that google is obtaining are already digitized so one you have the issue of the records being put into the cloud which already puts them at risk of hacking exposure but to google is collecting the. Records to build future Business Products how does that fit into hipaa laws well it does fit in a hipper laws and whats really interesting about this situation is the u. S. Government is investigating them but its a health and Human ServicesCivil Rights Division which is investigating them specifically to determine whether this information will be used to make insurance to terminations that is when you apply for an insurance policy will something that occurred in your background influence that decision now in my opinion what theyre building is what i call a life style index which is where they take your medical records and integrate it with all the other information google has ever collected upon you and determine whether youre a good Insurance Risk or not which is really going beyond what that information was meant for so not only is there a civil rights component to it but theres also a question of did it violate hipaa i say yes no one knew about this situation this project nightingale until a whistleblower within the project basically went ahead and dumped this information on dailymotion and so what happened is there was no information that individuals records were being used in this manner no consent which while its happened and i would also say that the way that the information was used and stored and the security protocols around it certainly did not meet him yet that was the question im going to follow up with what we know to rebut the big question has to be whether or not consent plays a role here exactly so right thats the other big issue here and thats the other issue of a company like a google having access to so many records and connected social Media Health Care history fitness all of these patients so are we looking at a potential future where Insurance Companies can access and these data and analytics and determine whether or not people can get coverage or are denied claims well lets try and make this a simple as we can for everybody whos trying to understand. What is incumbent upon us as a doctor or a provider when it comes to medical records the data that we collect from the patients yes doctors or doctors offices are allowed to share certain data but according to the 1996 law which established how that information is shared it has to be for a medical function in other words christie you go to see your doctor she gives you a referral to see another doctor and then your doctor sends your data your file over to that doctor because theres a reason for them to have that i see no reason in the world where someone would be able to use that dict of that information from that law to then say well were going to share with google which has nothing the hell to do with medicine so thats the real problem here this information is sacrosanct and its being shared with a company which shares and collects data but then legally alive they are structured as a business with us here thanks and it struck me as a business associate to google that Technology Provider that is assisting doctors with the information so theyre an independent party thought that is a claim that there are you know and i get that but the point is and i think that you make a valid point there the point is this 96. 00 law the way its structured say just because theyre your Business Partner doesnt mean you have the right to share information they have to be a Business Partner that then allows you to share because there is a specific medical function thats going to be served for the patient not for the business for the patient and i think miles will probably agree with me that seems to be whats missing here well and then miles to that point i mean isnt the part of the issue here the fact that were looking at google not just delving into this part of health care that theyre in right now right but theyre developing a i with this and i dont want this to be missed in this discussion because the ai component of it goes far beyond just collecting and processing information theyre actually. Building a new Business Model and new Business Tools of the future right so heres the question is with this a i do we get to the point in the future where there there are Machine Learning thats telling doctors what they can and cannot do lets say the doctor doesnt follow that and now health Insurance Companies say we dont have to pay on that claim because you didnt follow what the machines told you to do. Absolutely there is not enough Health Care Professionals to cover the medical needs in the United States in fact Health Information data doubles every 73 days and youre going to use a to do diagnostic youre going to do this to develop tools to help doctors absolutely but whats going to drive it is this information this lifestyle index and its going to determine who gets treatment who doesnt get treatment who gets insurance and who doesnt get insurance and this is what the frightening point about it is not only do i believe that google has violated helpful but they probably filed late several state privacy laws as well you know by going ahead with project nightingale and you know can i can i Say Something here that sometimes gets lost and in this discussion the expectation of privacy that a patient has when he goes to a doctor is at a premium is so important the reason i would go to see my doctor and tell him something very private about myself that i wouldnt even want my family to know about me is because i have an expectation that that information is never going to get out the damage that we do to the patient and to our medical system if we allow this type of thing to happen is unbelievable in terms of what it could do down the line because it would mean that in the future i may not want to go to my doctor im going to get on a plane and go to mexico the next time i need a checkup because you dont have that connection and then lastly and i know were short on time here but something miles said about state regulatory laws and rick i want to ask about this right you know illinois has this biometric law that essentially everyone is getting sued for a video dr pepper we work everyone sued under this thing because they dont get consent no one gave consent for this its been going on for over a year and theres been no consent how do you do you get around the miles will tell you and most practices if youre a provider even if you just have lets say somebody working answering phones for exam. That person has to be checked out to make sure that theyre not accidentally sharing information even if its Just Wellness stuff so i mean most doctors go through this very rigorous process to make sure Something Like this doesnt happen and they usually get fined 4000. 00 for one violation were talking about 10000000. 00 people here where their data was already filed with reichl this is a major violation i cant see it any other way and miles i think then just very quickly go ahead. Yeah and i just want to say theres no private right of action under hippo but you can get a lawsuit under state privacy laws either for negligence or breach of them you know imputed contract so what im going to start seeing is im going to see some class action suits happening at the state level for negligence against school you can have the state attorney generals come in as well and theyre going to pursue this very vigorously as they have been pursuing facebook for the past several years real quick miles before we go i know were running over here but did google know they were doing wrong here do you think simply by the fact that they kept it a secret they didnt tell anyone you didnt they didnt even tell doctors that they were doing this. Absolutely. They didnt tell them doesnt that kind of you know theres a reason you dont Say Something sometimes i think it kind of. Guilt but then again im not a lawyer miles edwards i mean i think so yeah yeah you guys very much of this thanks so much. Thank you thank you messaging app telegram has asked the new York Southern District Court can dismiss the f. C. C. Lawsuit against its graham cryptocurrency the f. C. C. Previously issued an emergency t. R. O. To block the launch of the network arguing that telegram was engaged in the sale of unregistered securities when it sold its gram tokens now telegram is copying back to say refuting all the allegations made by the f. C. C. Telegram claims that the f. C. C. Has engaged in improper regulation by enforcement in this nascent area of the law and failed to provide clear guidance and fair notice of its view as to what constitutes as a violation telegram has voluntarily engage the f. C. C. To seek guidance prior to launching graham yet the f. C. C. Has failed to provide guidance prior to bringing this unfortunate action furthermore the graham tokens constitute as a commodity or currency not a security under the federal site. Curious law as defined by the 4 factors of the how we test so this blanket treatment of crypto currencies as securities without any meaningful differentiation as to its function and where utility is myopic and sets a very dangerous precedent telegram said it didnt register with the f. C. C. Because its not required under the federal Securities Law as the 1700000000. 00 sale of the grants fell under the exemptions to the securities act of 1933 where these tokens were sold exclusively to accredited investors the firm as the District Court to deny the f. C. C. Its claim for relief and dismissed all claims with prejudice in the meantime graham has agreed to delay the launch of both the tongue and the tokens until after feb 18th when the next hearing is scheduled so its already a significant delay but for people at home who are trying to make sense of this because its very complicated part of what makes it so complicated right is the fact that the a c c keeps moving the goalposts keep changing how this works so one day they say well youve got to file this way because this is a security then the next day they say well that one doesnt count as a security that one counts as a currency and so when the f. C. C. Cant even make sense of their own structure what telegram essentially did was they said at this stage its a security at this stage it will become currency correct exactly and what that furthermore the f. C. C. Is actually take going back on its own words because there is precedent block one was actually dismissed on september 30th of this year they launched their currency they launched it in an i c o for a 4000000000. 00 in 2 1702800 they launched it they went to the f. C. C. And the f. C. C. Was like ok pay a 2524000000. 00 fine and youre clear you dont have to take the tokens back you can still trade it and eos is now still operable yet to find them 24000000. 00 and how much was raised 4000000000. 00 or way we were it was only raised 1. 00 really the really concerning thing is right now the f. C. C. Emergency relief and this type of remedy is only typically due to the ongoing fraud case. Right and there is absolutely no indication of fraud anywhere in this entire thing theres a complete lack of consistency from the f. C. C. And from the i. R. S. When it comes to crypto until they can figure those issues out i think were going to continue to see this. One time now for a quick break do not go away were pretty fired up over here professor of economics and author Richard Wolfe joins us hes going to talk about the latest stall in the u. S. China trade and the problem with us paul fiscal policy overseas. Plus is it possible is it possible that Chinas Central Bank is actually looking at for you the c. E. O. As part of the digital coin no way right because they were the Central Bank Authorities are saying about allowing anonymous transactions and as we go to break here are the numbers of the club. Your government our government and all the other major governments of the world know whats going to and when its going to. But they havent told you and they havent told me they havent announced. Imagine something as big as the earth. Is going to cause tidal waves or earthquakes volcanoes erupt and its going to chill. So very for a while right. My great grandfathers quote. Nobody would care about the law or prison so youd have wallace though should have. A terrible life between now and the. So what weve got to do is identify the threats that we have its crazy confrontation let it be an arms race off spearing Dramatic Development only personally. I dont see how that strategy will be successful very. Time to sit down and talk. Join me every thursday on the alex im unsure when ill be speaking to. Politics. Im showbusiness. Is a tense situation in venezuela is still all over the news the problem in venezuela is not that socialism has been poorly implemented but that socialism has been a holy temple and from the inside venezuela things were different were going to announce sanctions against. Venezuela associate. Famously have a son of the moment whos. Down for something political battle to stay on the path to. The moment the focus of the who story isnt new nixon told in Henry Kissinger to tell him that it would not be tolerated in latin america an alternative economic and social system could take hold and therefore the policy would be to make the economy scream so wants to make use of the of venezuela screed. And welcome back here are 2 words that you did not hear very often together china and privacy and yet chinas new stable current project appears to be trying to find a balance between regulatory enforcement and allowing for some privacy statement from the peoples bank of china indicate the chinese authorities appear to understand the need for some privacy in the crypto space stating at a conference in singapore we know that demand from the general public is to keep an amenity by using paper money and coins we will give those people who demanded an amenity in their transactions but at the same time we will keep the balance between the controllable and amenity if that such a thing and time Money Laundering c. T. F. Counterterrorist financing and also tax issues Online Gambling and any electronic criminal activities so obviously 1. 00 of the key values of crypto currency maybe its greatest value is peer to peer transactions as well as anonymous transactions though not all crypto currencies are actually anonymous some like dasher when their own are but others can be traced and connected with users those who believe in the original role of crypto currency recognize the value of privacy and lets be clear here any Digital Currency issued by a central bank is not a crypto having said that Chinas Central Bank said it will guarantee cash like levels of privacy but admits that it will retain the ability to track down crypto users if its suspects illegal activity like Money Laundering. While only a week ago the markets were cherry and roaring to new all time highs over a break through an 18 month long trade war between china and the u. S. Today at looks like we are back again to square 11. 00 with more Downside Risk as the market optimist. It has been now over extended President Trump in a speech tuesday said that phase one could happen soon but warned that he was ready to raise tariffs on chinese imports very substantially if that fails trade talks appear to be stagnant again as china insists that trump roll back some of its punitive tariffs imposed after all china had agreed to repurchase of such stansell amount of x. Quid pro quo etiquette would dictate that china get something in return however trump denied rolling back the tariffs and instead is threatening to slash more tears right in time for the busy holiday consumption season so how does this all going to play out to help us answer that we bring back Richard Wolfe professor of economics at the university of massachusetts amherst so professor in recent weeks we saw the balance of probabilities shift to the Positive Side in getting a phase one deal done but now after trumps speech we realize that nothing has changed risk is still on the table and you cant say a deal its close without offering any details on when or where its going to be signed so in fact theres actually more risk now with it being so close to the holiday consumption season and the markets at near all time highs so quantify the risk for us and will the fed be there to support the markets and bactrim if theyll face one fails again. Well i think you put your finger on it in terms of the risk of actually getting larger it has been getting larger steadily across this whole event if you go back to the beginning promised that he would win the trade war and that it would be a short war its turned out he hasnt won anything and the war keeps dragging on i think there is the clue when mr trump does his bluster and his threats this is theater sealer for his Political Base more urgent than ever to distract attention from the impeachment and other problems that he has this work with trying to he has done this already he has threatened tariffs he has imposed tire. The chinese are not about to pay then theyve shown that to us now for over a year todays Financial Times carries a story which clearly indicates that the damage to manufacturing in the United States is graver from trumps trade war even then it is in china and both countries are suffering so what youre going to have is a theater on or off rising risk for as long as the trumpet ministration saying that the political gains for his reelection are larger than what he might lose from upsetting the World Economy and the American Economy from the fallout of this war or you get you got to think richard that its a bluff certainly when hes talking about raising this before the Holiday Season because they had threatened to do that before and then they pushed the date to make sure it wouldnt interfere with the Holiday Season if you want to make americans mad make christmas presents more expensive but china wasnt the only target yesterday the president also alluded to tariffs coming to other countries that quote mistreat us he criticized the new trade policies before november 14th deadline and this drop european stocks across the board on wednesday so will the president do you think announced tariffs on cars and auto parts imported from the e. U. Come november 14th or will he also have to delay this again at least past that Holiday Season. I think its part of his theater in other words if he decides that cutting a deal of primary phase deal with china will get of a boost in the stock market and the pleasure of people whose income is significantly drawn from stocks he will do that but he doesnt want it to look as it will to many of us as a cave in of a policy with charlie that failed thats too dangerous for him and his base so if he cuts a deal with china you can expect to revoke up the noise with europe so he can continue this game of protecting us from other folks which is the theater theme of these trade wars so one will offset the other in order to get the best of both for his political calculation is only able to do that because he has the fed supporting them now we were able to talk about repo yesterday and that intervention in the markets in order to stabilize at that bond rate and prevent it from spiking trained in the quick outs but then a funny thing happened today the fed once again lost control of the very rate they were married mandated this time in the opposite direction so we find effective funds rate just out 1. 55 percent just shy of the feds lower bound target of 1. 5 percent so right now that the fed have any credibility now in maintaining control. Well its showing that it has less and less you know were coming off an unbelievable unprecedented time in American History since the crash of 2008 the Federal Reserve has pumped more new money into the economy than we have ever seen before in a comparable period driving Interest Rates to below 0 which we havent seen before etc etc all that money think of it as sloshing around globally because other Central Banks have done similar things so it cant control all of that money because it can move. So quickly nowadays from country to country from securities to hard goods and back and forth and so its kind of always a little bit too late too little at the party it doesnt have the control and the reason thats so important and i commend you for underscoring it is that well all suppose that that endless money if it starts to create inflation that the fed can then will step in to hold that back what youre seeing in the repo market is evidence that confidence of the ability of the fed to do that is misplaced. And so adding to the u. S. Problems with Monetary Policy how about this you know the dollar is being dropped by china india and russia as a means of payment in fact as you know thats the whole point of bric nations right brazil russia china India South Africa what they have attempted to do is create systems to go around the u. S. Dollar is this just an inevitability even as the fed continues to print that World Reserve currency of the dollar will soon go away or at some point go away yes i think this is an inevitable process the russians the chinese and others have been talking for you weeks and months and indeed in some cases years of wanting to get away from the universal dependence on the dollar the americans keep thinking theyre the top of the hill they can keep it going forever we now have clear evidence that they are offering an alternative and given the power and growth of the chinese economy their involvement alone is changing the balance and the impact on the American Economy of the declining role of the dollar internationally will be profound and is a major issue in the years coming up professor Richard Wolfe thank you so much for your time. Thank you well tesla has announced that it will build its newest Vehicle Factory in berlin tesla c. E. O. Elon musk made the announcement on tuesday saying that its new gigafactory for about that for a name would be built in berlin mir the new berlin airport musk who by the way is in germany for an Award Ceremony and says that the new factory will also help to create an engineering and Design Center in the city if you follow tesla you know that musk had originally indicated that that new gigafactory 4 was going to be built in the u. K. But musk now says that uncertainty from braggs it was the reason he chose to place the factory in berlin instead i doubt thats true but what many people dont know about berlin especially here in the United States is that even though its germanys capital it is also home to as a 2018 article in timeout dot com calls it quote a mind boggling number of abandoned buildings old military camps former factories and Enterprises Hospitals swimming pools colleges senatorial airfields and more. About that. We dont know its going to fall fall victim to the berlin curse of bandon factories but lets just put it this way elon musk has abandoned his own projects many times before hes went on from tesla to solar city to hyperlink to the Boring Company space x. How Many Companies how many projects has he abandoned its true hell fit right in thats it for this time you can catch us on track t. V. Channel 321 dish network out to 80 or stream 247 on planet t. V. Or as always have us up at youtube dot com slash boom bust artemia move see you back here. Suggest isnt all the reverse under every verse under our randomly picked. 10 to 15 billionaires every year and everythings getting down to 0 and pour some out there into the world of commerce and see if they can build it up scratch again introduce risk back into the American Capital system once you have a sort of out of mind theres no more risk youre just clipping coupons for vanity and you have no stake in the game whatsoever. This hours headlines Story College student goes all the shooting rampage in russias far east killing injuring 3 others before turning the gun on himself also ahead in the program. Supporters libyas president clash with police demanding the new government leave and bring the. Americans a. B. C. News as owner of pressure to explain convincingly hold an explosive story on convicted paedophile jeffrey up