Transcripts For RT The News With Rick Sanchez 20240712

A very poignant message that its sending about the u. S. Economy both from a pragmatic standpoint and from a psychological standpoint as well the message that it would be sending to the rest of the world trying to own more of our debt in the United States than just about any country in the world so why would they be doing this right well think about it so just today as we reported here as breaking news about an hour ago the u. S. Federal reserve came within moments of being pressured into lowering Interest Rates below 0 in the end they pulled back from taking them into negative territory but even that build up of what they might do was significant significant enough so china is worried that when you combine what the fed has already done in buying back bonds and pouring billions into banks and printing 2 trillion dollars to pump into a. Sputtering economy in the United States what you have what you have is the makings of a weaker dollar a weaker dollar in other words as. Describe it the u. S. Currency will be devalued. And what china is essentially saying is we see a storm coming and were going to start getting out getting out of the way while the getting out of the way is good. So what does this what does this really mean for the Global Economy right who wins who loses and how is this going to affect you and me and the rest of us were going to all these questions here on the news with rick sanchez where we believe it is time yes it is to do news again. All right heres the list of the questions we think hell be asking what will happen if china sells off the u. S. Debt could a protest go too far and should you be fired for how you protest and what is the history of barricades and Law Enforcement around the white house but we begin with what is a blockbuster of a story china is finally going through with it theyre beginning to sell off more than a trillion dollars in own of the u. S. Debt our debt so why are they doing this and what does it really mean were going to drill down on all of this but were going to give them with a party boom bust host ben swan and this explainer. The u. S. Federal reserve in this printing of u. S. Dollars is resulting in a new consequence from one of the largest holders of american debt were talking of course about china according to new reports china which is the 2nd largest foreign creditor has decided to not wait for the devaluation of the u. S. Dollar and is actively selling american debt keep in mind during the 1st quarter of 2020 the fed printed more than 2 trillion dollars with more on the way last year china got rid of 100. 00 u. S. Treasuries and within just the past few weeks they have dropped another 10000000000. 00 aside from the massive printing of u. S. Dollars another major issue for the chinese has been talk of the thread moving to negative Interest Rates now as of wednesday afternoon the fed is now. It will not pursue that policy of negative Interest Rates at this time but the discussion of negative Interest Rates has been going on for several months now according to Standard Chartered economists the federal funds rate at minus 0. 5 or even minus one percent will result in a significant drop in Government Bond yields which would facilitate washingtons debt service and the concern from the chinese is that those negative Interest Rates will not benefit the value of the dollar and that u. S. Currency as a result will inevitably become cheaper to keep in mind american debt is a widely held and extremely desirable asset in the Global Economy whatever debt china does is simply purchased by other countries for instance in august of 2015 china reduced its holdings of u. S. Treasuries by about 180000000000. 00 despite the scale the selloff did not significantly affect the u. S. Economy but the difference between 20152020 well there are 3 major differences number one were talking about the incredible amount of liquidity the fed has poured into the market just this year alone number 2 an attempt by the fed to go to negative Interest Rates and then number 3 the issue of a Global Pandemic that has devastated economies around the world for the news with rick sanchez and been swan. And good enough to join us live to take us through that shes going to be joined with George Galloway. What were doing with both of these guesses were offering you the business perspective and the political implications of this story but i want to begin with you look i just called around some of my sources and when i asked them why china was doing this what they told me is that china is tired of seeing the dollar as the worlds almighty currency and that this is but its the beginning of china that is creating or competing and making their own currency at some point in the future if that can you confirm. Matt explain that to us yeah i think thats thats absolutely true i was the one thing i would push back on is that they said this is the beginning i think you can go back 5 years 6 years and say the beginning really began when china russia india and south africa began working together as brics and brazil began working together as the brics nations of that was the real 1st move i think to say were going to get rid of the u. S. Dollar as the worlds reserve currency china doesnt like it and other nations dont either because it puts them in a politically disadvantageous position an economically advantageous position and so what were seeing right now is the continuation of that effort and certainly china is not going to hold u. S. Debt forever theyre going to sell it off when they can as we mentioned in the piece in the past theyve done this but never to the extent that theyre pushing for it now and certainly not at a time when the u. S. Is doing so much to devalue its own currency you know we are not a business show we are a news program the news of rick sanchez which is why we see this particular story as one with vast geo political implications can you take us through that George Galloway. Yes of course the dollar was king for a long time people dont like to be ruled by foreign kings. Are looking for ways out of it various ways out of it russia and china for example have been very big goals over the last few years making sure that they have their own. Of course if the u. S. Government the treasury are cheapening the value of the dollar for the reasons. Outlined the. Holding is one who less. Than it would be to. Have no confidence in the long economic again. Amongst countries like china preeminently china they are able to do it themselves they dont have to be on the of the agony of d the u. S. Dollar which is being used for political purposes i guess money is used all over the world for political rather an economic. The other countries are getting tired of china and russia see america now it is as a hostile act in europe. As friendly as it used to be for all these reasons. If that if china is to sell it let me go back to you with something my source told me when i was speaking to them this morning they said while china wants to do this theyre not going to be able to do this for some time because they dont have the infrastructure and i think what they mean by infrastructure is the bond market thats capable of moving a trillion dollars which the United States can do that can i do right now they write. Well i think theyre right i think china is doing a pretty good job and i say good not necessarily because its good for the United States but certainly its good for china is china is moving in in a different direction here where theyre essentially trying to do is move into a position where they can get themselves head of the United States by developing relationships with other nations developing relationships with infrastructure and other nations loaning money to other nations becoming into the world in a way that the u. S. Has not been in the past and thats a huge part of this so as we move forward one of the things we have to consider is what is the u. S. Going to do to respond to this the u. S. Has been frustrated for some time but the concept that china is going around the world and loaning money to other nations for infrastructure builds theyve been moving in this direction so thats why im saying this is a step. In a staircase that essentially gets china and the rest of the world dependency on the u. S. Dollar as a reserve currency and i got to say this rick its important for american viewers to understand the significance of this because we have no generations of americans left really essentially none left who remember a time when the u. S. Dollar was not the worlds reserve currency we have become to the point of mean its always been this way its only been that way since after world war 2 and yet we act as if it is a foregone conclusion that i will always be this way and it very well may not be George Galloway i see you shaking your head i wish i could continue this conversation i know you have a lot to add but we have got to move on my thanks to both of you really important conversation that i think the whole world needs to be in on as well and George Galloway once again thank you very much meanwhile this story and what is a bit of a shocking counter protest today against those who have been protesting the death of george floyd a group of demonstrators in new jersey well they may have gone too far im going to show you an image here and let you decide for yourself the counter protester is across the street from a black lives matter protester mimicking the killing of george floyd hes communicating a message one that no matter how vile you may interpret it is protected by the 1st amendment of the constitution of the United States should the men have been fired from his job should he be burned catalyzed actually even further than just to lose his job or not at all your questions americans are asking here now the facts of the story with our correspondent trinity each of us. As black lives matter protests against Racial Injustice continue across the nation some counter protesters in new jersey are sparking outrage after mocking the death of george floyd next to an on lives matter. That the your shows. Brother is now identified as jim in show de marco reenacting cloyds death while a group of black lives matter protesters marched past them jim allegedly the one kneeling on his brother joe as x. Minneapolis officer derrick show than it did while he was arresting george floyd on may 25th floyd later died in Police Custody the video quickly going viral sparking outrage coast to coast show demarco now suspended from his department of corrections job while his brother jim de marco has been fired from his job at a shipping company condemning the video on twitter stating the behavior depicted in the video which involved a fed ex employee is appalling and offensive that acts holds its team members to a High Standard of personal conduct and we do not tolerate the kind of appalling and offensive behavior depicted in this video the individual involved is no longer employed by fed ex we stand with those who support justice and equality meantime the new Jersey Department of corrections said it suspended one of its employees after confirming he was among the group that taunted and try to upset the demonstrators reporting in new york Trinity Chavez are taking by the way coming up were going to have a conversation about protests in general and whether are or are not going too far with. My call i want our colleague larry king this is that theres a direct address youre watching our special coverage on a portable t. V. Or on regular t. V. And we will be right back stay right there. Bank. Tower read out read i turn on the t. V. On the about the world of whats happened in the around me i see shows on the screens but in last every day because the fake news narrative steady state. Too many cool things from last build enough business with farm f to barbara the fabric of globalism make it loud how plenty off this endless war but i found a network that question science great news that a space civil strife Climate Change stop a war think cool simplify lists all that mainstream wants to do was keep us quiet here watch the right you cant keep a stylist critical point feeds focus fake few questions inside direct see if we dont take sides we walk the dog our t. V. Im a work of means real talk. You cannot be both with me yeah youre right. Im holland cook i invite you to climb with me above the main stream media empire and from that higher fare to church to glimpse the big picture question more. There is breaking news coming into us right now from the sports world and interestingly enough its a follow up to a conversation i had yesterday with steve. Just moments ago nascar officially announced that they will ban all confederate flags from properties and races this season so you know unofficial and the rebel flags of all nascar events literally minutes ago they decided to officially do it and yesterday we said it could come in the next 24 hours and 24 hours later here we all have to understand that is a very prolific she was able at most nascar event yes its very prevalent many nascar and many fans are going to going to be a lot of backlash from a lot of nascar fans on this but you know i thought about it but by the reading ive done many many many people in the United States and most notably africanamericans by horribly offense yes. Lets go to m. L. S. M. L. S. Now and some positive news here. Or noncontroversial news i guess would be the m. L. S. Is back tournament was announced now its going to be a world cup style tournament beginning on july 8th much like the n. B. A. Theyre following that format doing it at the wide world of sports and disney world but all 26. 00 m. L. S. Teams will participate because they were only 2 games into the season now lets go to some of the key points of this now there will be 54 total matches 26. 00 match days it will be group stage followed by around a 16 quarter final semifinals championship match and the key dates are the teams will arrive june 24th of july 8th will kick off with the group stage and then round of 16 july 25th july 30th quarterfinals semifinals august 5th and 6 in all wraps up aug 11th with the championship match the d torch in june and it ends in august with the really quick players allowed to kneel to make a point about the protest will the m. L. S. Let them do it you know m. L. S. Is unlike the n. F. L. Who didnt know it was a really clear on their stance on that although the players say they are going to be doing that this year nearly during the epidemic lasted come out with a statement. And Major League Soccer stands by the ideals of freedom of speech and right to peaceful protests that are the hallmarks of the United States and canada if players or staff decide to stand kneel or otherwise exercise their right to peaceful protests during the playing of any National Anthems before the games they support them fully they will support them. So now olympics i understand that theres some movement or finally something about the olympics are we going to have it ever going to go on like well thats to be determined obviously we do know its postponed till 2021 summer but if there is a vaccine in time for the coronavirus then they will go on but if not they will be compelled to completely however lets say hypothetically they do go on yeah now the International Olympic committee is also segue into this now from what we were just talking about the nearly during the the anthems or during podium. During when youre you know being recognized for winning a medal. Its mostly in the ceremony or ceremony basically the ceremonial parts of it and the opening and closing ceremonies but most of the podium they dont want athletes kneeling so today the president thomas bach actually came out to present the i. O. C. And he stated that they are working with athletes to on this issue and they are easing the band that they put in about 5 months ago they did ban all political protests from the olympics that were supposed to be in tokyo this summer but now he mentioned about next summer and heres what he had to say check it out. I would like to preempt. The fleet. With so many fleets that representatives around the world i think it would not be fair if you make a statement. There are giving. Or even instructions in this respect. You know and the main thing is they dont want any political or divisive you know stance to take place stances on the podium in for the world on that stage but the athletes many of them are going to want to you know express themselves however they want whether its merely a raise in a face to what again in 1068 at the mexico city olympics i know who youre talking about black power john carlos to the athletes really United States went up there and they held their their fist in the air and youre right it was not received well it was not fact they were suspended yes yes they were so you know hopefully they eased back as well yeah its an interesting question doesnt belong in sports i think it kind of does sometimes it depends on the issue of greed thanks good stuff boy a lot of news breaking in the world of sports im so glad that we have you. Theres a fence around the white house we dont know if youve noticed but we certainly have it kind of changes the dynamic of the entire city of washington d. C. Especially when you consider that the white house has always been called the peoples house its supposed to be accessible now its less accessible than it ever has been but folks this is been coming for quite some time here is fair and. The white house is another great example of this conflict between what is the nation going to in 79 he won a new United States dream of building enormous palace for the head of its executive branch thinking felt for a number of recent 20 mistakes been seen and seems to some people might Jefferson County was just. Elaborate is a way much like a palace for a king and then secretary of state Thomas Jefferson argued that the home of the president should be modest and it should symbolize a virtuous democratic republican nation that one building is the symbol to the world of American Freedom and democracy its been home to every president since john adams 1st moved in back in 1900 as it was being built of people around the globe with that building these are people that will never come to our country certainly never visit the white house most of the morning even made in america but they know what that house means the white house the peoples house a Living Museum of American History that continues to unfold as the white house grew as the presidency grew during the 19th century by the time of Theodore Roosevelt there simply wasnt enough space to accommodate both president s family and their growing president ial staff and 1001 the white house was given its official name by president Theodore Roosevelt along with a major upgrade part of his 902 renovation was to build a separate designated workspace for the president and that is the west wing as we know it today just outside the west wing the south lawn of the white house is not only where the president s marine one helicopter lands but its also a place for the people a decade ago your family could pack lunch in a blanket and have a picnic on the south lawn overlooking the truman balcony possibly even waving to the commander in chief as president harry truman often did and you really do feel the presence of history and youre really overwhelmed by your little part of. Yourself but as time goes on with the natural progression of more and better security around the peoples house it seems as if the walls around it are getting higher and the role as president is drifting further and further away from Everyday Americans when the founders created. The presidency they left the kind of loose they werent exactly very specific about what a president would do and they realize that the 1st president George Washington and this is why he was so important was a man of virtue and that he in his behavior would set the precedence for the next president after washington never lived to see the white house and all that it is today but his legacy to be the peoples president living in the peoples house is constantly reminded to president s each and every day as the president returns home to the east wing theres only one doctor to the white house that was also in the white house on the day that charted abigail adams. And that is the ward school perched George Washington reminding president s today what the white house is and what it represents the white house does not belong to a president or 1st family the white house belongs to the American People for the news with rick sanchez im fair in front. Of the way throughout the day weve been covering protests that are taking place not only in cities in the United States but in cities all over the world more than the Nations Capital right here in washington d. C. Where our own ashley banks has been ferreting out the situation. Im here i think you see the its not too far away from the white house where both American People are gathered here to take using their cell phones to take pictures of messages that are on the ground that they think might watch the matter got a vote and a part of the lead so i want to point our attention to memorial thats right behind me and thats pictures of people have died at the hands of Law Enforcement like the land ok still to mark clark alton sterling to be a right sandra where there might be others but if there is we could hear them in the another math that says if you think your mask it makes it hard to breathe that magic being black in america i want to turn our attention now to capitol hill where its boy george bush the brother is going to Congress Today and that justice be served he said although he couldnt be there for george when he died they had the former officer derek king. Please listen to the couch im making to you now to the cause of our family and the cars ringing out the streets across the world people of all backgrounds genders and races have come together to demand change on it him on earth george and make the necessary changes that make the Law Enforcement the solution and not the problem hold them accountable when they do something wrong. Tuesday what it means to treat people well it would be every speak to brazil leaders have vowed to create tougher laws to prevent racial profiling and Police Brutality that helps to sherry committee is expected to advance Police Report legislation next week yesterday george boyd was laid to rest and houston 15 days after he was killed by Police Officers showed that commercial twitter is about to create tougher laws to prevent racial profiling and Police Brutality the House Judiciary Committee is expected to advance a Police Report legislation next week yesterday george wood was laid to rest in houston 50 days after he was killed by 4 officers showed it from our Vice President and democratic president ial nominee joe biden visited floyds family in houston to give them his condolences he also shared his thoughts on the Racial Climate in America Today wired to the nation to many black to. Just living. Why does justice and. Righteousness like a march to. Raise. To turn away. Turn. Just moments thinking we could once again turn away from racism. But you heard there biden said we must not turn away about the attitude people have here in d. C. And around the world they say theyre going to continue protesting and gathering and no real changes made within the Law Enforcement. Or i spoke with people here and people and minneapolis and people in houston was a willing to risk their lives in the name of trust its many leaders like al sharpton keep reiterating they believe this Global Movement is different and that real change it will be meet reporting in washington actually big. News thanks so much for being with us if you have friends looking for a newscast so truly that like the rest of them tell them were here. And tell them because. Download horrible t. V. It so that and with it you could take us for ever you go to get. This hard to take so from somebody if you know have something to replace and. We want to do this interview today and all these markets open then they take me. Off the area. So im going to tell you stop selling drugs if well have some to put the money in a box. They just mean all the way to life its almost been basically mcculloughs feast of. To us what security security positions i was in that. Day jack me again. You see people get all their cars and ill see you coming in the herd and it seems like theyll hurry up and run into the house like they dont want to they dont want to talk see her get your mail or anything like that. I just want to. Do that is. Just try every day. Give me. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation full community. Are you going the right way or are you being led. Direct. What is truth what is faith. In a world corrupted you need to descend. To join us in the depths. Or remain in the shallows