Transcripts For RT Keiser Report 20240713

The i. M. F. Is like bailing out half the world over there i made a good job themselves of it because theyve become somebody in this world you know the i. M. F. From from being almost completely marginalized and worthless well back about 100 years ago we had this notion of communism and socialism and the workers would gain all the power and the workers would gain all the wealth but now weve discovered that nobody actually has to work theres no work anymore and we find out when everybodys quarantined because nothings being made right there is and still like the economy their stock markets are floating up higher and higher and everything seems ok right now but now everybody has discovered the magic of the Printing Press and this is the danger of here its like well they could just print out money like what was all that stuff about with greece why were they forcing austerity on them when apparently they have a trillion dollars like how does the i. M. F. Which cant produce wealth right they dont have any land mass they dont have any workers how do they produce wealth how do they get a trillion dollars fire power well allegedly largest percent about 1718 percent is from the United States which has busy like printing trillions for bankers why did they put the greece through austerity if we know we knew then and we certainly know now that they can print up trillions and trillions of dollars on a whim you know why did they forests ireland to restructure their economy in the way that they did. Why dont they allow 4 countries a lot america and mexico in brazil to have a more free flowing. Experience with their economy another so in other words theyre using money i think the answer is theyre using money as a political weapon and also the moral hazard because remember in 1908 the fed and the treasury worked together to bail out one Hedge Fund Long Term Capital Management and the you know 6 or 7 banks that they owed a lot of money to if they went under and then of course when the dot com crash happened they were incentivized to intervene more but that was Silicon Valley they dont care so much about all the people in Silicon Valley and the normal job at the donuts participated in that huge dotcom boom and they didnt care that they lost all their money but then 2008 came and all the banks were going to collapse because of all their dodgy fraudulent derivatives that they wrote up because they knew that they would get bailed out because theyve seen it already with Long Term Capital Management that your derivatives bets go bad the fed will bell you out and sure enough they did but here now well see this the scale is now like everybodys joined in that are outside those banks the private equity hedge funds because 2020 is not 2008 Central Bank Interventions to stop the Capital Market crisis are far larger than those to meet the banking crisis of 2008 here you can see 2020 versus 2000 a looks very different we were broadcasting in 2008 and during that period and what we said was i mean to have to go for the cigarette ok barack obama was the president and his team which included summers and other guys. They couldve belt out the debtors that would be the mortgage holders and the credit card holders but they chose to bail out the creditors the banks. And with that bell which they said was going to be roughly 3 quarters of a trillion dollars which became 16 or 17 trillion more expensive than that then had they bailed out if they paid out every mortgage in america and every credit card in america and we said look the problem here is that all youre doing is youre expanding the credit line of these corrupt bankers to do the exact same thing but 10 times worse and probably within 1011 or 12 years theyre going to blow up again and that was in 20089 we set ok so here we are 2020 and what were saying is that people are really remarking that 2020 is a mirror image of 2008 its the exact same problem banks over levered blew themselves up and are now demanding a bailout at the point of a gun from the fed and other such will banks and except this time the dislocation in the economy combined with the coronavirus is so great that weve tripped over into medieval ism thats so messed up this is where its neo feudalism thats all screwed up this is exactly but you know this constant more hazard the fed bailing out people and theyve become obvious like the wizard of oz the curtain has been pulled back and everybody could see that they could just print money for whoever they want so there is a sort of sense like this whole notion of ever returning to normal is like when you make the people forget that they know you could just print out as much money as you want if you have the will and the desire to help that particular group the u. S. Government is crafting a plan to pay shale drillers to keep oil in the ground to support prices and jobs a lot of long held concepts are getting turned on their heads these days the latest the idea that low oil prices are a net good friend for the u. S. She was referring to a tweet that u. S. Ways Oil Output Cut by paying drillers not to produce of course this bailing out the actual drillers and the. Acar dudes out in the fields of north dakota and texas and oklahoma but its also bailing out in particular was free and all those c. L. O. Is a squatter lives alone obligations and the whole junk bond market that is the fracking industry just so sad if you look at countries like japan they have an industrial policy the government subsidizes manufacturing and they become world beating manufacturers and they send over their electronic stuff and their stoneys and their cars and they their economy grew right then have china theyve got a an industrial policy the government subsidizes manufacturing and they make sure that their currency doesnt get too high so that they can keep exporting their way to become the biggest economy in the world ok now we come to america they havent policy know they have a kleptocracy based on banking and the tragedy is that instead of subsidizing fracking which we as weve pointed out now for 10 years its a cash negative business from day one and never ever ever ever makes money its a loser from day one they couldve had an industrial policy and they could have said you know were going to subsidize alternative energy solar wind in hydro to become Energy Independent in the world and that by now thats would have been the state of affair and by the way creates 5101520 1000000 high paying jobs but you know america is run by the worst possible people you can imagine its a caca stock r. C. Well i just dont think you can have an industrial policy and Monetary Policy in a few system like this because theyre at odds we have a financial i system and. You know what does private equity do they target companies with any cash on the Balance Sheet and any pensions on the Balance Sheet because they will attack it wipe it out need it just like a locust thats their model they dont go after like in debt. Companies they go after companies that are robust because thats the only you know if youre a predator you dont want to scrawny little mound nourish thing you want something thats right for it just like tearing apart and eating it and then lets look at our Agricultural Policy again this headline really puts you back into this sort of Great Depression days a says something we havent seen that since the Great Depression dont milk smashed eggs and plowed vegetables coronavirus pandemic leaves staggering amounts of food waste 3700000 gallons of milk each day are being dumped a single chicken processor smashing 750000. 00 unhatched eggs every week and go into a supermarket and finding eggs for example you cant but because 3 months later we still are not for all the talk we cant like we cant rejigger the entire supply chain we dont have the ability partly because of all the regulations but we just apparently because we cant make the things like new egg carton so the eggs are being dumped because these these actual distributors manufacturers there are distributing to hotels and restaurants and stuff like that big consumers so dont have like a 12. Egg package so to get make this 12 packages theyre probably a suit presumably made in china so to get them all i changed in imported and they kissed impossible to do so and so were just dumping it in the meantime you see thousands and thousands and thousands of people lining up in cars all over the United States for you know food pantries we dont have a policy we have a faberge a policy. I mean the problem with having like david geffen on is 3100000000. 00 yacht floating around inquired and taking selfies of him so for those drone and having a flotilla of choppers come in and out its not that hes a rich guy and its the problem is that he got his wealth through this money printing system right he hasnt been productive in 1015 years theres just been money printing and hes willing to pay 50000. 00 for a dozen eggs and it doesnt mean anything to him theyre all faberge eggs to david geffen but on the supply china all that means that if you can get eggs youre going to be paying quadruple what you were last year and a lot of people wont get any eggs at all its called inflation stagflation coming right so. Oh well i guess the sign to take a break and when we come back were going to crack some more eggs and open your mind. This is a story about what happens auster a stray bullet kills a young girl in the streets. What happens to her family and daughters in florida know the mother daughter is buried in a cemetery it is healing messes with your head what happens to the community the public was screaming for a scapegoat the Police Needed a scapegoat so why not choose a 19 year old black kid with a criminal record who better to pin this on than him and what happens in court be. Shot after shot as far as society we feel. We dont know still just screwed on. The end of this trial unfortunately you too will still not know what childress. Welcome back to the kaiser report imax guys are time i have to go to someone who can help make sense of the oil sector for us jasc rami is the cofounder of gold money admin day to companies in which we are invested is also former Goldman Sachs commodities economist josh welcome back i know x. And stacy good to be good to be back all righty joshua last year we saw in negative Interest Rates thats a positive that time had no value this year weve seen negative prices on some Oil Contracts and so does i mean energy and matter have no value anymore just certainly Interesting Times so i think the most the thing thats important to understand about an Oil Oil Price or any commodity price the differentiates it quite quite a bit from say a stock price or even up on price is that the price of a commodity is actually a curve because you need to produce and consume or produce a transport and store commodity before you can consume it typically people buy a contract in the future for delivery so when we see the headline price as being negative for us specifically types of crude products its because the very near you know the very near dated future the most the nearest delivery is actually negative be because we have no place to store the commodity so it doesnt mean that we have free your cheap oil because in fact your gasoline prices in some ways could end up going up because of whats happening in supply chain so we can brit we can dive into all of that but its important to understand 1st and foremost that a commodity price is very different than a than a price of stocks and bonds futures trading i think it dates back a few 100 years to japan for rice farmers you know they get figured out this way that they could lock in a price for their rice in the future. By selling off the potential appreciation to a speculator today and thats carried forward all the way its its today and it relates to commodities and commodity savate definite cost weve got a fine and weve got a growing youve got to transport them its not like a stock or a financial future the way you could just add zeros indefinitely as the Federal Reserve bank is doing now what about the Federal Reserve bank and their kind of quantitative easing and this idea that they can buy every asset under the sun to prop up markets is that going to extend to the energy do you think if Energy Prices got down low enough that you could say Central Banks start to hoard oil as a way to to prop up that sector josh yeah you know its a great question and its actually why weve got here indirectly so what that again but the whole futures curve the price of oil going up in the future is now not necessarily free right because people still have to have to produce oil in the future big to be able to get it you know good to us in time so whats happening is the price is collapsing in the near term because its the price signal is telling us we have to shut in Oil Production we have to stop producing it because we cant consume anywhere while demand has fallen anywhere between 20 and 30 percent globally for short term short or more oil so the problem is when you have Central Banks getting involved d in these markets and typically they get in via the credit markets is they artificially try to lower the price of of debt or credit for the economy to try to some stimulate demand so while they did this for almost a decade coming out of the last financial crisis you particularly the u. S. You had shale drillers just going crazy with with tippit taking cheap debt to taking cheap capital and over producing and over and over drilling in oil and gas. So this is actually a revenge of what Central Banks had done previously because we need to actually break and bankrupt this economy this oil economy to try to stop trying to slow down the supply and so this is the problem is alternately in the physical Economy Economic gravity always comes back come back comes back into play you cant you cant just you know print new Storage Capacity for oil would be very very difficult for central bankers try to correct their previous mistakes through their monetary policies so what youre describing there sounds like oil vigilante and what i mean by this is we used to have a thing called the bond vigilantes and we heard about it during the clinton years and if the banks are printing so much money it with signal inflation and the bond market was sell off dramatically but sent Central Banks then started buying bonds through quantitative easing we no longer have that Market Segment it gave them Carte Blanche to print trillions and throw 2 price signals out of whack all over the market even down to the level of the commodity market the oil market and ive got negative rates on oil futures at the moment which is clearly a distortion of the market brought to you by era sponsible central banking and what youre saying there is that there is a wall that will be hit with that kind of market manipulation and am i correct in saying that this is the revenge you could characterize it as oil vigilantes just you know i like that i hadnt heard that term youre very good at coining these these new terms for the market and thats exactly whats right it really thats exactly whats happening is is that you know Market Participants are shorting or oil spreads the difference between the may and the june contract is because people know that the expiring may contract nobody wants it nobody wants to take that oil and store it somewhere. So theyre all over it vigilantes are shorting that spread there theyre selling main theyre buying theyre buying june right and so and so yes that this would be very similar to a bond vigilante commodities as you point out its very different than financial flows ation Financial Products because there is a brick wall called Reality Earth only has so much on the ground theres. This thing called physics that has to be a encountered and taken into consideration and lot has come out is trade in relation to each other so we know that for years people have looked at oil and gold and theyve said you know what. Oil and all the usually theres like 20 or 30 barrels of oil so an ounce of gold i just looked at the numbers recently that something amazing like 100. 00 barrels of oil actually more because the price of oil is dropping around the Single Digits approaching even a dollar so you could say its over a 1000 you know barrels of oil so an ounce of gold what does this tell us if anything josh this is actually incredibly important signal im glad you brought that up ive been trying to tweet about this and talk about this a lot because Central Banks of have got in and distorted the market so significantly right now right now in equity markets you have basically year over year prices and equities are flat which is absolutely incredible as were approaching 20 percent unemployment again probably 2030 percent drop in in in demand for things like oil and yet equities are flat year over year and of course we were increasingly have more and more currency volatility as well so its important to actually use something that gets in the real economy as as a signal so i look at the gold to oil ratio particular not from month price again not a whole oil curve but the but the near stated futures contract we can actually look at that oil to gold ratio going back you know hundreds of years and so even if and basically that. Regardless of the monetary regime. Regardless of the political regime weve seen that essentially oil prices have traded between usually between 10. 20. Barrels per ounce for and that was true in the 1920 s. It was true in the 1930 s. During the Great Depression where you actually saw that ratio move up to Something Like 30 and even in extreme to recessions you see maybe is highest 40 but what were actually seeing now is over 100 so again this disputes to the dislocation on both sides you know we talked about the supply glut of oil because of oats so much now and thats meant from from cheap credit but the other side of it is is of course the price of gold which is signaling monetary debate debasement right so the denominator of gold is is sort of the numerator of gold is going up and the denominator of oil is going down so youve seen also you know this is this is an all time dislocation in our price no way way beyond what happened even in the Great Depression brought certainly during the history of the modern oil industry which i think dates back maybe 120 years or so but let me ask you about the petro dollar so starting in 1971 we had the petro dollar and that was as you point out the price signal for a Global Markets it was no longer gold it was the petro dollar and this was the relationship between saudi Arabia America and Going Forward this was the basis for a huge rise in credit at the Banking System because of course Oil Extraction is hugely capital intensive and it demanded huge loans and credit to be constructed by the major banks around the world and now weve got a situation geopolitically or it appears as though sadie arabia is trying to bust the petro dollar system possibly to do business with china versus america as their primary buyer add russia into the mix that you know with the fact that they are drilling costs are in rubles and theyre selling in dollars. Or just that cost is not far above saudi arabia so theyve actually got a good hand in this good jill political poker game are we at the end of the petrodollar system josh even before before the virus and the shut in of the economy i actually think we were already seeing signals of this is in and q 4 in the repo madness and the you know not q we are already seeing some really troubling things happening in the in the u. S. Treasury markets and the overnight ret lending markets and and so we actually already saw and that was because essentially your whole ringback risk free yield curve in that in the market is headed toward 0 not if the whole price of the Treasury Curve moves to 0 thats actually very different than say you know the yen you know going negative Interest Rates or the euro because ultimately global trade in particular Global Energy trades on the u. S. Dollar so so its very i would make the big distinction that the that the dollar going negative really is an end game an end game for this this current set up of the monetary regime you know back to the back to the oil market specifically yes i mean this this is is sort of the same same dynamic and in play at play in that you had a centrally real goods coming into the u. S. And packaged up credit to buy those real goods moving across the Global Economy so people could fund you know basically have how the u. S. Dollar reserve globally so we saw that in the in the offshoring of manufacturing jobs to china and specifically over a number of decades as a same part of that dynamic but you also saw of course you know more and more Energy Imports from the u. S. Census since the 1970 s. However whats happened is with the shale revolution and the u. S. You know temporarily. Became you know wasnt quite as dependent on on the saudis and therefore the way that russian oil ended up and european markets and so you had this big change in the dynamics of the Energy Market however again going back to this problem is now that were actually bankrupting the north American Energy producers you know including canada and say almost more specifically canada were going to have some really interesting geopolitical shocks coming out of this as alternately the world will still need energy and so now were going to have a lot of market power going to saudi arabia and russia Going Forward jass crown thanks so much for being on the kaiser apart thanks max and thats going to do it for this edition of the kaiser report with me max kaiser and Stacy Herbert want to thank our guests jastrow if you want to reach us on twitter its kaiser report and. This is a story about what happens off to a stray bullet kills a young girl in the street. What happens to her family daughters in florida. The other daughter is buried in a cemetery in healing this is with your head what happens to the community the public was screaming for a scapegoat the Police Needed a scapegoat so why not choose a 19 year old black kid with a criminal record who better to pin this on than him and what happens in court to be. Shot after shot is from our society we feel. We dont know who killed genesis for the. End of this unfortunately you. Will still not know who killed just. You know a little spot that sound. With nothing to go on that i desired to know. How much older. Vocal just to. Show. You some will push it under. Your bridge not just on thoughts almost and you will not on one level so it was to stop it. Well as you. Go along to. Your city but i. Just let me see yes. I was on the floor some things in my basket and you know trying praying. There was some time. I was having children fever i didnt have any sense of snakes the smell from the most you. Would you. Recently she you know sometimes you just used to. The song sounds. I have to confess true push myself how close are they for me in the face. If. Thats what it. This is also u. K. Were live from Central London welcome to our viewers from around the world where currently awaiting the governments daily Coronavirus Press briefing its given today by the Health Secretary matt hancock with the government already under pressure to outline plans for easing lockdown restrictions so far westminster has refused to release any information while the chief medical officer said that social disruption could last for the rest of the year but scotland and Northern Ireland already discussed in their own plans to lift some restrictions preparing businesses and schools full social distancing so that press briefing coming our way very shortly in the meantime our other headlines this hour. The un announces the 1st recorded case of the virus in the lebanese refugee camp for palestinians prompting fears about why dont break up among the displaced be speaking to the head of a charity responding to the pandemic. Over 100 opposition politicians called on the government to introduce a universal basic income to avoid a much deeper economic crisis when lock down ends we hear from the former labor m. P. Emma dent code. And counterterrorism officials warn the price will supporters are looking to take advantage of distracted and overwhelmed Security Services to attack hospitals and radicalize those who look down at home. One of the month long from britains coronavirus lock down the 1st minister of scotland has published a blueprint for easing restrictions despite westminster refusal to reveal nationwide planning thats as politicians warn that tens of thousands of businesses are at risk from an overly cautious approach after the chief medical officer said social disruption could last until the end of the year is out he joins me now here in this. To get with all the latest so he said firstly because sturgeons just goes up to westminster again yes the scottish 1st minister getting ahead of politicians in westminster with regards to the publishing of an exit plan comes as late as death toll figures have come in but we can go to that press briefing now. Welcome back to downing street for todays daily Coronavirus Briefing im joined by sir Patrick Vallance the governments chief scientific advisor and Professor John newton who is called meeting our work on testing the government is working through our action plan which has as its core that we must protect life and protect the n. H. S. Both by speed slowing the spread of the virus so that we flatten the curve and buying suring that the n. H. S. Is always there to treat all people who need its cash according to the most recent figures 583004 196 tests for corona virus have now been carried out in the u. K. Including 23560 task carried out yesterday. 138078 people have tested positive for the virus thats an increase of 4583 cases since yesterday. 17615 people have died. 17615 people sorry are currently in hospital i correct myself with coronavirus down from 18189 on the 21st of april and sadly of those hospitalized 18738 have now died and that is an increase of 616 fatalities since yesterday and although this number is lower than it has been in previous days i still stop and eat think of each one they will not be forgotten and their stories will live on we must maintain our resolve and follow the social distancing rules because they are working. Theyre protecting the n. H. S. And theyre saving lives to lift the measures too soon and to risk a 2nd peak would be a mistake it would undo all of the hard work thats been done. And it would be both bad for our Nations Health and for our nations economy. We could only start to change the measures when the n. H. S. Can continue to cope when the operational challenges have been met when the daily death rate falls sustainably and consistently when the rate of infection is decreasing and most importantly when theres no risk of a 2nd peak. We need to bring the incidence of new infection right down. Well then use a rigorous program of test track and trace and keep it down so we can safely release more of the restrictions and today i want to set out the progress that were making on test track and trace which is such an important part of the measures that were taking and the work that were doing. 1st testing we set the goal of 100000. 00 tests per day by the end of this month i knew when we set it that this was a challenging target capacity is now ahead of our plans and even overnight has increased from 40251000 because capacity has increased so substantially were now able to expand who can get the tests our ultimate goal is that everyone who could benefit from a test gets a test but of course we had to start by prioritizing patients in hospital followed by n. H. S. And social care colleagues and by those in care homes as we expanded the capacity from just 2000 tasks a day at the start of march to 10000 tests a day at the start of this month so weve been able to further expand access today i can go further. We can make it easier faster and simpler for any essential worker in england who needs a test to get a tast from today employers of essential workers who will will be able to go on gov dot u. K. To get a test for any of their staff who need to test and from tomorrow any essential workers who need a tast will be able to book an appointment on gov dot u. K. Themselves directly this is all plies for people in essential workers households to who need a test its all part of getting britain back on her feet. Those included as essential workers will be based on the list 1st schools and education set out on gov the u. K. The whole process will be free and once youve entered your details on the website youll get a text email inviting you to book an appointment after youve had your test results will be sent out by taxed and a help desk will be available to deal with queries people who cant go online can still apply through their employer i want to make it as easy as possible for people to get a tast not least because were talking about people who are ill our network of regional test sites has now reached over 30 locations right across the u. K. And more are being set up each day and i just want to take this moment to applaud the private companies whove been involved as well as my team and team the Public Housing england and the n. H. S. Boots amazon Thermo Fisher round oxford drosh oxford nano pore jess kay and astra zeneca they have really stepped up to the mark and im grateful to each and everyone were also introducing home test kits and with the support of the Armed Forces Mobile testing sites to. The armed forces and their mo d. Have played a vital role here and i want to pay tribute to their work i thought that at yesterdays briefing general sir nick carter when he said that coronavirus had presented the single greatest logistical challenge in his 40 years of service i thought that spoke the truth our armed forces have played their part in rising to this challenge and i want to thank them all in addition to testing essential workers were also using testing to find out how many people have coronavirus and how many people have had coronavirus these are critical pieces of information to inform our battle against this novel virus and that will be used to learn and we keep learning about every day this week weve begun one of the biggest virus infection an antibody studies that this country has ever seen this is a joint project with the office for National Statistics bringing their experience of running large household surveys and the university of oxford bringing their world leading scientific expertise in total 25000. 00 people will take part in the 1st phase with plans to expand it to up 2300000 people over the next 12 months participants will provide regular samples taken from self administered swabs and answer a few short questions during home visits by Trained Health workers we use these tests to help us strengthen our Scientific Understanding and informers on the big choices that we have to make about social distancing measures and how we start returning to a more normal life letters arriving on doorsteps from today please if you are asked to take part in this Vital Research for your country the early signs from today are that there is huge enthusiasm for those whove received letters taking part in this survey if you get a letter please respond to it as soon as you can because you will be doing your bit. As we ramp up our ability to test in large numbers and as we slow the spread of the virus we also need to make sure weve got the ability to trace contacts just as effectively. As we look ahead this is critical to keep the virus under control and so were putting the infrastructure in place now so that we can roll out Contact Tracing on a large scale were currently testing the new n. H. S. Contact tracing app if you become unwell with symptoms of corona virus youll be able to tell the n. H. S. Via this app the app will then send an alert of the app uses that youve been in significant contact with in recent days even before you have the symptoms so that they know and they can act accordingly so we can get the test to people even if theyre asymptomatic. If we worried that and that is the Health Secretary matt hancock giving todays coronavirus a press conference saying that a program of testing tracking and tracing will come into force when the daily infections have come down further hes also said that any essential workers will build a book test online from tomorrow. Is with me and still nothing yet about the end of the lockdown no not. Going through a number of issues including the latest death toll with regards to how many people have lost their lives sadly in the most recent 24 hour period 616. 00 across the u. K. Taking the total 218700 38 of course those are only people who have lost their lives in hospital after testing positive for covert 19 we know that the office for National Statistics do have their figures pointing towards a much higher number now we know that the we know that the government havent yet published any type of exit plan or indication as to when lockdown will end and there was no allusion to it by mr hancock either one country which has north of the border in scotland the 1st minister nicholas government publishing their blueprint for how they will see a path out of the corona virus lock down and mr saying that there are certain criteria or certain things which have to be fulfilled before some of those measures can be reversed. Careful balances will have to be struck for example it may be that certain businesses in certain sectors can reopen but only if we can change how they work to keep employees and customers 2 meters distant from each other similarly with skills question is may have to be redesigned into a low social distancing so maybe not all children can go back to or be at school at the same titans some limited Outdoor Activity might be able to restart earlier than indoor activity but let me be clear big gatherings and events are likely to be off for some months to come so with scotland releasing its that document with regards to what their exit plan is there are certain conditions in order for that to take place the country would need to ensure that transmission rates are kept at a steady rate to ensure that its safe to lift those measures also in order to avoid the country being put at risk of another outbreak they scotland that is have to ensure that those effective testing and Contact Tracing in place as well as isolation measures although again with the Contact Tracing concerns of our privacy campaigners as to the validity of that but also the scottish document stating that they want ensure that postcode 90 and post a lot down the country is in a sustainable place economically and also that theyre able to set up a fairer economy now yesterday we heard from the chief medical officer of the United Kingdom chris witty he was discussing the issue of vaccines and saying that until one is found certain social distancing measures have to remain in place. In 2 we have those and the probability of having those anytime in the next calendar year are incredibly small and i think we should be realistic about that were going to have to rely on other social measures which of course are very socially disrupted as everyone who is finding at the moment but until that point that is what we will have to do and it will have to be the best combination that maximizes the output is going to take a long time and i think we need to be aware of that. These lockdown measures are really taking a toll on businesses now on thing yeah absolutely we know that the government has indicated that the lockdown measures are going to remain in place until the sats number of criteria are met for example ensuring the n. H. S. Could cope but this is taking a toll on business and the office of National Statistics the ins have released own figures on this according to them 24 percent of Companies Across the u. K. Have temporarily closed a small number 0. 3 percent of permanently stop trading but there are fears that number could rise significantly if you lock down measures continue for a significant period of time now in the Creative Industries 4 fifths of Companies Say that theyve had to stop trading for the time being while 66 percent of companies claim that they are still trading but not at normal levels and 60 percent of say that they do currently have enough Financial Resources left to cope with the lock down although of course that number will dwindle as lock down continues and it remains to be seen exactly if it will be extended any further thank you very much indeed for all of that well have some more news for you after a short break. So what weve got to do is identify the threats that we have its crazy you confront a shouldnt let it be an arms race off and spearing Dramatic Development the only personally im going to lose is i dont see how that strategy will be successful very critical time time to sit down and talk. The world is driven by a dream shaped by one person or those with. No dares thinks. We dare to ask. Anyone else seemed wrong but old quotes just dont call. Me. Yet to shape our disdain becomes agitated and in again tremendous equals betrayal. When so many find themselves worlds apart when she still looks for common ground. Aid workers and Lebanese Health officials have begun testing refugees for the result of the 1st case in one of the countrys camps was identified thats according to the uns body for Palestinian Refugees who warned the cramped conditions could lead to a wider break audis middle east correspondent linda. What you know is that theres been one woman a Palestinian Refugee from syria who has tested positive in a camp in the eastern bekaa valley of lebanon now theres some 3000 people who live in this camp and we are hearing from the United Nations relief and works agency that looks after Palestinian Refugees that the woman is currently being treated at a hospital in beirut and that all necessary precautions have been taken now we know that yesterday a 146 people were tested at that camp including people that the woman had been in close contact with and we are hearing from lebanese officials that they were for the same kind of health care to Palestinian Refugees as they afford to ordinary lebanese citizens lebanon itself has 682. 00 concerned cases and 22. 00 deaths that include a palestinian living outside a camp and 3 syrian citizens now in lebanon if you remember as a country of some 5000000 people this is in addition to tens of thousands of Palestinian Refugees and their descendants and also at least 8000000 displaced syrians the concern of course is what is happening in these camps now theres a lot of a crowd in this is unhygienic situations and theres been a lack of testing the concern being expressed by humanitarian workers as if we could see a 10 day make break out there and even further afield the worst affected country in the middle east and one of the worst affected in the world is iran iran is reporting 86000 cases and 5400 deaths now also on wednesday egypt extended its state of emergency for another 3 months and this affords the egyptian president sisi sweeping powers in which he is able to suspend schools and universities and also insist that people returning from aboard go into quarantine egypt reporting 3659. 00 cases 276. 00 deaths now if theres one country thats starting to lift restrictions across the middle east. That is jordan particularly in the south in more in more likely Populated Areas there its lifting of the restrictions and also because of be no cases of infection reported there what were hearing from jordan in terms of the statistics is 435 cases and 7 deaths so certainly what we see is that in some areas life is starting to return to normal but its still too soon to say whether this pandemic has been beaten or whether or not the region should be bracing itself for a 2nd phase of a more on the conditions within the regions refugee camps im joined by the head of the lady of Fatima Charitable trust walked our karen to thank you very much for joining us this is a very Serious Development of our new your organization is not directly involved in lebanon but can you give us an idea of what these conditions are like you know what it means if there is an outbreak in one of these camps. Absolutely thanks for having me what you earlier guest was saying was very true in that one in 5 people in the country is a refugee largely syrian but some palestinian as well and that just gives the scale and in fact the scale of the issue that we have here refugees living in very squalid conditions where theyre very cramped lack access to basic facilities in terms of sanitation kids going to school low rates of literacy and also very high rates of unemployment the specific refugee camp. Where this lady was tested positive in the remote region of the bekaa valley where a lot of the resistance of the refugee camp on day laborers at the local farms the back of that valley is very fertile and a lot of the vegetables that make their way onto. The tables in lebanon and the wider region are grown men with this case now being identified it is highly likely that employment for these day laborers will be completely shut down or at the very least minimized and theyll be a lot of social stigma reinforced against them so that creates an even larger issue for these individuals looking to get food on the table interesting enough so we can i interrupt the lebanese government is saying that refugees will be treated the same as locals but not on in a position to give the support was needed. I dont think so and 2 reasons for that one in 5 people in the country being a refugee the medical facilities. Particularly on the back of the financial meltdown are stretched to cope with the bill to the nationalized population and so the ability to cope with these refugees in addition is highly doubtful in addition to that. Funding for basic supplies like food and medication has been in dispute recently and therefore basic supplies are not making their way here so this is for individuals who are not even sort of you know testing just day to day food supply and many many so what are we facing him up to over how possibly then can you deal with an outbreak in a camp with those sort of conditions i mean testing and isolating infected i mean it could be very very very difficult bearing in mind conditions. Elite not only possible in terms of. Ensuring social isolation in cramped refugee camps where even having clean water supply and sanitation is an issue. Of basic medical facilities not being met and yes theres been some good will theres some good publicity in the lebanese press about this it case being treated in the best possible manner and in a good hospital but extrapolate that on to you know all the needs of the refugees and whether these can be mente or not leave me very doubtful as to whether that is actually possible well i think of people being sort of locked out in squalid cases in refugee camps that theres no well after all for the refugees many of whom particularly palestinian ones are armed and therefore it causes large Security Issues for the locals as well and theyre very dubious of government to try to wear the large issue particularly palestinians who live there in some cases so many generations of not being nationalized so all in all looking at the makeup of quite a weighty issue should this unfortunate spread on top of that with all the what your organization is doing thank you very much indeed for joining us here on off u. K. Thanks for having me. Hundreds of opposition politicians including the government to introduce a recovery of universal basic income which they say is needed to stop the country falling deeper into an economic crisis when the lockdown comes to an end. Lee calling on the u. K. Government to prepare for a recovery universal basic income in response to the Coronavirus Crisis we are likely to face a damaging recession as well as ongoing economic insecurity that will affect all of us as we are likely to exit lockdown in a nonuniform way at an uneven speed the system simply wont be able to keep up with peoples individual changes of circumstances so that it does not propose a specific amount of money but sources suggest the payments of 50. 00 pounds a week could be appropriate that would mean a total cost of 75000000000. 00 pounds a year the United States has brought in a similar scheme to the value of 1200. 00 for Many Americans but only as a one off payment for what labor m. P. For can sing to him and the code told me that everyone is entitled to the basic human rights of having enough to eat i am contracted every day by people who have no money at all and they may or may not have them apply to universal credit and then ive discovered and i actually eligible for universal credit and they have no money so how are we going to do that i mean to have to keep on trying you know 2 am. To save them because actually there are people out there hungry and there are people out there not only it was struggling before people who had never anything and they feel humiliated i mean just given the dignity of being able to food on the table without having to. Not have to apply a food what kind of country are. And for more on the universal income will be joined in the next hour by former libyan leader sivans cable so more news for you in just over half an hour from now. Pain has changed american lives but pharmaceutical companies have a miraculous solution. Based drugs the people who are chronic pain and believe that their opioid prescription is working for them on the remedy be sent to to the price that they pay closer dependency an addiction to opiates to long term use that really isnt scientifically justified and ill study actually suggested that the long term effects might not just be absence of benefit but actually that they might be causing long term. Israel media a reflection of reality. In a world transformed. What will make you feel safe from. Isolation full community. Are you going the right way or are you being led so. Direct. What is true what is faith. In the world corrupted you need to descend. To join us in the depths. Aura made in the shallows. Style demand exists in Climate Change honest opinion little spunk. With nothing to do in the design its enough. When you put yourself in the shoes of the patient and the patient hears theres the potential donor and all of a sudden this potential donor has just gone to subpoena. 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