This is the us the one business show you cant afford to miss something. In washington coming up a former Morgan Stanley chairman says the u. S. Dollar will almost certainly crash thanks to Government Debt and right now more than ever and as we look at our church reopen well tell you just how much money is that stake and what both pandemic hollywood may look like have a packed show for you today so lets go and dive right in. Big news for one of the Fastest Growing messaging companies in the world as russia has now officially lifted the ban on the private messaging Service Telegram russian Officials Say the ban was lifted after the company showed willingness to help with counterterrorism efforts telegram is a messaging company with over 400000000 active monthly users and it had been banned in russia. 20 teen Communications Watchdog common a odd source said in a statement ross codd the war is dropping its demands to restrict access to Telegram Messenger in agreement with russias general Prosecutors Office now for more we are joined by bus. Juan and kristi i then lets start with you why was this ban lifted at this time and was it truly over telegrams founder saying that what he would do or he would do more actually to combat extremism. I think it had been very little to do with combating extremism it had much more to do with the fact that this ban on telegram was completely ineffective and all about 15800000 i view addresses were being blocked out including accounts on amazon and google clouds it was severely affecting russian businesses but heres the most interesting part of it even though this ban has been in effect for 2 years there are 2 years that the russian government has said you cannot use telegram because it is a dangerous system to be used even though that was happening russian government had accounts on telegram including the Russian Foreign ministry and the Coronavirus Task force in russia they all have official telegram channels so we you know when youre losing this thing by attrition when you place a ban on using a Certain Service and then government into a force to use that service because so many people are on it thats a very interesting you say that ben being a little little hypocritical would you that banning people from using it yet the government using themselves could sound a little familiar kristie we know that telegram has posted reaching 400000000 monthly active users which is more than double what it was just about 2 years ago now was this ban a simple or simple just to losing a fight. It was a losing fight from the star really it was very somewhat of chinas restrictions when it came to blocking certain sites i just facebook this ban was also pretty ineffective. As vendors point out russians continue to find ways to use telegram and over the course of this 2 year ban telecom actually increased its user base in russia from 10 to 30000000 users and it wasnt just because russian users were that tech savvy to be able to find ways to proxy in and around it telegram was actually also quite smart about it and use a technique called domain fronting in order to get around the block for the 2 years now this method essentially hosts a service on another companys system such as google and amazon and effectively hides the traffic sources so as a result walk telegram and turn to look use google and amazon holsteins there is it so it looks like the traffic was coming from google and not telegram and it was really quite ingenious as you can imagine as there is no way for the censoring authority to weed it out so its been a thorn in the governments side for quite some time and force at this point in order to save face the Telecom Watchdog said it was only now lifting the ban due to telegrams willingness to tackle terrorism extremism well could this ban have been lifted because so many people were still using it. Well absolutely but theres also its just completely ineffective at simply just trying to control the messaging but as ben just pointed out its really a factor when the government officials are actually using and trying to corner coronavirus with relief efforts well then wasnt a huge part of telegram strategy to also then deploy the ton cryptocurrency which is a project that is now dead that speaking of crypto currency during these times many are turning to Digital Currencies especially with the weakening of the u. S. Dollar. Yeah absolutely i mean its said to me that the tom project came to an end we talked about this on the show in the last couple of weeks but you know that project came to an end because of the f. C. C. Here in the United States and the judge will essentially ruled that no one anywhere in the around the world is allowed to be a part of this project regardless of whether theyre u. S. Citizen or not because they might get around it which is kind of interesting that were were talking today about russian authorities recognizing the baby. Sickly lost a war of attrition to telegram because so many people were using it and the ban was ineffective what the us judge did a few weeks ago was essentially the same thing saying we know well lose the battle of attrition to telegram if we allow that tom project to go forward because we know that people in the United States will find ways to get around it now i think the judge was wrong in that ruling people should have the right to make this decision to be a part of this project if they choose to but where telegram is truly powerful is that you have this this blog chain based system thats in effect and its creating this encrypted messaging where other Big Tech Companies here in the u. S. Have have failed to truly protect users and their and their privacy a telegram doesnt do that so i think the strength of telegram and i would hope that at some point it would be able to return to these original ideals of helping to prop up and move forward the Crypto Market and i know thats the passion of the founders when i want to stand crypto here from an it christine today the former chief economist at Morgan Stanley just made a not alarming prediction saying that the dollar crash is actually happening whats going on here. So this came from Stephen Roach has been a Morgan Stanley economist for the past 30 years and hes now forecasting a 35 percent drop in the u. S. Dollar value against other major currencies and he expects the u. S. National savings rate to sink deeper into negative territory then i has ever done before an economic history and that the changing Global Landscape now paired with a massive us budget deficit will spark this entire dollar crash and america right now is is walking away from globalization and right now its focused on decoupling itself essentially from the rest of the world and with such a crash it could spark a late 1970 stagflation crisis when prices rose heavily and sharply without any Economic Growth so right now the error of the u. S. Dollar privilege which we actually talked a lot about on the show with the u. S. Dollar being the worlds reserve currency and benefiting massively from its stability and credit that era of dollar dominance is now coming to and as such this again gives a lot of credence and support for the entire point the excess because history has shown that money printing has always been a problem societies to try to print their way out of debt and that has never really ended well now was born from the last financial crisis and now were witnessing all these liquidity injection the. Saudis all over again because Monetary Policy still remains untouched and i strong as ever now with hoggers buying up over 90 percent of all the new book wines that are being mined adding to positions faster than ever in 2020 well then now investors are sitting on top of the biggest pile of cash ever funds arent really vested at this point so in the event of another crash down would be t. C. Actually benefit from this or will it also get dragged down in the liquidity crunch that we saw back in march well i think ultimately it will benefit from it and theres a couple of reasons for that the biggest is this that as chris adjusts rightly said a big point was born out of the original 2008 financial crisis which is going to pale in comparison to. Whats happening right now because even though we did see the beginning of the q. We secure we won in 2 and 3 that was just the very beginning it was nothing compared to what were seeing right now the Federal Reserve has overstepped its bounds so immensely in the last few months its absolutely incredible the printing of u. S. Dollars right now is staggering and how the fed the federal government excuse me is treating all of this is simply to say we just need to print more and print faster and so i think what were ultimately going to see is its not just big coin that will benefit from this one thing thats come out of that coin are these alternative coins as theyre called old coins that really have different kinds of functions so when people say crypto currency it all sounds like one big basket of the same thing competing versions of the same thing and its really not in reality there are some significant differences between kryptos and so i think what were going to see is growth in the Market Growth in the big market youre going to see more people moving to that and once again its going to be born out of crisis and out of a crisis people will say how can i find some kind of hedge against what governments are doing that i have no control over and i move to a peer to peer based network that is decentralized where there is more security christic quick answer here the bank of talent and also launching a project to pilot this test at the c. B. C. The Central Bank Digital currency Payment System and real life businesses using case says they are not the only ones that has a conversation started to launch a us itll dollar has resurfaced again what do you make of this. I think that this is actually very dangerous because i know it came from a bank and we send they want this digital daughter dollar in order to get around the payments to americans that theyre on their stimulus checks but the thing is the Federal Reserve wants to create this digital quoin because it wants to be able to track any and all transaction in the economy and prohibit transactions for any reason so for example the state want to prevent someone from traveling it could block the person that i plan. Take it or gas not to mention every single coin can then be confiscated and shut down out of the Financial System in extreme cases so in these terms this is a country a state controlled currency means the state control individuals. Well this is definitely something to keep an eye on because it would mean much more regulation but west coast spend so on and christie i thank you both for your time today. Thank you. It was a good week for markets across the board as were seeing all green arrows lets start in russia where the molex its up on the week after a rough patch mid week which we saw the ruble struggle against the dollar as oil prices slid however the index surged at the end of the week on back of nations Central Bank Cutting Interest Rates by 100. 00 basis points leaving it at a record low of 4. 5 percent on friday now lets move into asian markets were going to see more green here in shanghai the composite had a relatively steady week it ended up one percent on friday the chinese governments pledge to provide liquidity in the Financial System at the end of the week qual the concerns of a 2nd outbreak or increased tension with the us in hong kong the hong saying also up on the week it popped 3 per cent on tuesday alone as concerns of a 2nd outbreak waned will carry lambs comments about the new security law being in the best interest of the special administrative zone it really helped boost Investor Confidence japans nikkei is following the similar trend here it popped 8 percent on tuesday alone sony and honda they had pretty good weeks up more than 6 and 5 percent respectively as the prospects of economies for the reopening continue lets head over to india where the sunset saw some steady gains throughout the week despite the countrys weak g. D. P. And p. M. I. Data well this coupled with increased tensions with china it proved stock speculation has little to do with actual Economic Data the end x. Ended up more than 1. 5 percent on friday over to australia where the a. S. X. 200. 00 was also in the green for the week even with this weeks gains though the end x. Has lost more than 10 percent on the year the all shares in south africa is green after opening the week with a deep plunge investors are keeping an eye on a supplementary. Government Budget Proposal set for next week moving to europe all 3 major indices are in the green londons footsie gained more than one percent friday this is as the bank of england expanded its Asset Purchasing Program by another 100000000000. 00 pounds all in an effort to mitigate the Economic Impact of the pandemic the dax also in the green after a spike of more than 3 percent on tuesday it was pushed up by the construction and Health Care Sectors good news for the economy as the Keil Institute for the World Economy said the country hit its lowest point back in april and its poised for a faster recovery than the rest of europe in france the cac following similar trends here the country saw that big pop early in the week and it maintained some gains into friday lets cross over to the atlantic where the evil best buy in brazil also up the week the countrys Central Bank Cut Interest Rates by 75 basis points on wednesday to a record low of 2. 25 percent to deal with what may be brazils worst economic decline in history moving to north america where mexico is in the green well something to keep an eye on here is the peso weekend against the dollar as the u. S. Treasury department slap sanctions on mexican companies. Over Trading Venezuelan Oil now in the u. S. All 3 major indices are also in the green after last weeks huge sell off the nasdaq the s. And p. And the dow all in the green they actually popped more than 2 percent on tuesday on news of retail sales jumping a record 17. 7 percent this despite more than 1500000 jobless claims for the week for americans which was worse than expected well lets finish things out in toronto where the t. S. A. X. Also in the green based shopify actually gained nearly 6 percent alone on wednesday the Energy Sector also saw some strong growth pushing up the end now how do you into next week were going to keep an eye out on. More Economic Data and really take a look at the number of new cases of coppa 19 and thats your Global Market walk. Time now for a quick break stay here because when we return as Movie Theaters across the United States prepare to reopen well tell you just how much money is at stake and what post pandemic hollywood may look like as we go to break here the numbers at the club. This is all about bailing out the banks on wall street and why because they are the biggest picture bidders and owners of the fed this bit is bailing itself out if it holds all these stocks the fed has all these loans the fed owns all these bonds one of prince money and keep Zombie Companies alive its to keep itself alive its printing money for itself and by the way whos a huge shareholder in all this nightmare Jay Powell Jay Powell is bailing them self out why cant people who are underwater on their mortgages or just been laid off in america simply print money to build themselves out like jay powell is printing money to bail themselves out thats not right is it. Some control for a middle class to. Muslim are very hard working people who want to get ahead that have either have some some Health Issues or have some other strick about luck the whole time jule moon told me hes paying for a place to live and missing just a months rent can get you a victim to gunpoint if anything bad happens to any thing that just throws your budget off slightly. Better catch up real quick or youre going to have a judgment of possession against you and get addicted to anyone thats why. Is treated like garbage people look at you like a monster or someone bad or you chose to be there most of the time its not the case see how it used to be in the worlds richest country. As a u. S. Reopens the economy and many states enter phase 2 the countrys largest movie chain amc theaters announced it plans to reopen 450 cinemas in July Cinemark is also following suit and looking to reopen its doors well we already know coven 1000. 00 has cost the Entertainment Industry an estimated 30000000000. 00 that number keeps growing with each passing day in other countries theaters remain closed chinas roughly 70000. 00 movie screens remain in the dark this cuts off the worlds 2nd largest market 2019 china made up 1200000000. 00 of the Global Box Office approximately 2900000000. 00 went to hollywood and 20000. 00 that number was 3200000000 and 2017 it was 3400000000. 00 that went to american studios for comparison the u. S. Holly was 11200000000. 00 and the 2 countries make up nearly half of the worlds total movie ticket sales of 42500000000. 00 for more were joined by paul to take care of com score paul good to see you thank you for being with us today. Good to see you sara great to be here well paul many theaters are planning to move ahead with this phase 2 reopening next month this is just ahead of some big releases including disneys more lon wont miss be enough and will that help the industry at all. What we got to get started at some point peters going to open in mid july in earnest i mean there are some theaters open right now and in fact drive ins have been doing very well as people are seeking that outside of the home communal experience but as your numbers suggest me last year was a record breaker in Movie Theaters with 42. 00 and a half 1000000000. 00 and like you said every day that goes by when a majority of theaters are closed just both in north america and around the world thats money thats not being earned now of course Everyone Wants to feel safe and secure when they go back to Movie Theaters and i think building that Consumer Confidence is going to be the most important thing that maybe primary and the movies maybe secondary in the early going and those early adopters moviegoers who want to see milan in 10 it and theres a couple other movies unhinged and the broken hearts gallery opening just before those films theyre going to set the tone with their social media sentiment in other words moviegoers who go early or the 1st ones to go out in july to Movie Theaters what they say about the movie going experience will be extraordinarily important in the ensuing weeks well see how films do over time all paul im not a germ of hope myself but i like going to Movie Theaters however i would actually pozza little bit because they its not like theyre cleaning those feet after each movie will people have enough confidence to actually go and i understand theyre going to be felt that maybe 30 percent capacity but will people still feel comfortable going whats your prediction well thats a really good question i think theyre going to be cleaning seats after every showing i think there may be fewer showings for day. A in addition to the reduced capacity to instill in the consumer the idea that the Movie Theater is about hospitality but number one is going to be its about cleanliness sanitation making sure people feel really comfortable going into that enclosed space and having people at least 6 feet apart or families 6 feet apart will be a good thing it almost be like a private screening if you will people will go to the Movie Theater but the interesting thing is there wont be that many brand new movies blockbusters in theaters initially so in a multiplex that may have lets say 10 screens or 10 auditoriums 8 of those might have one movie or it might be split between 10 it in lawn maybe one other movie so its going to be a different world in Movie Theaters and think of this the Opening Weekend has always been that metric that we all look to well starting back up its not going to be about the Opening Weekend its going to be about how the long term plays out films might have legs thats an old hollywood term meaning films that play for a long period in theaters and build their gross over time i think were going to see more of that and then of course really have some big movies wonder woman is in october no time to die in november and then a bunch of big films in 2021 so if this happens properly and things go as planned over time well see a return to people wanting to go back to the theater but 1st and foremost its about safety and health thats number one absolutely appalled kovan 1000 is clearly changing the landscape for hollywood and movies there are new guidelines that were released by the Screen Actors Guild that they say that frequent testing will be required and that there will now be the dollars in our order to protect the crew and the cast those who cant wear protective care or even maintain social distancing now many celebrities are voicing their concerns though because again safety should be 1st especially when youre so intimately do you feel less actor. More. Actor staying away from the industry how will this affect that and that matter i dont know if you can keep actors away from that its true thats what they do they love it its a passion itll be movie magic right so if theres a new way to have to shoot camera angles forced perspective whatever they have to do i think actors want to act producers want to produce writers directors they want to do what they do and we as Consumers Want new content we love it but these are concerns that have never really existed before but look hollywoods a very creative place filmmakers can create all kinds of spectacular scenes and shots and things that have those o. M. G. Moments those can be now translated to the more intimate moments which will be a challenge of course Going Forward but i think hollywood and the creatives will figure that out and speaking of creativity these guidelines dont mention anything about kissing or love scenes or even hugging or even how theyre going to borrow at this and even and its Entertainment Industry in bollywood theyre placing some stricter regulations here will like for example theyre not allowing people they the guild of india Producers Guild of india theyre not allowing people over 65 to even return to the shoot theyre also not allowing hugging kissing i mean what would hollywood essentially consider some of these whats it going to look like theyre. I dont know i mean that to be perfectly honest its going to be a real challenge because if theres kissing or hugging me look love scenes in movies are a time honored tradition and action sequences and other sequences like that dont necessarily require that kind of intimacy but its going to be really interesting to see how thats dealt with but again the last thing the creative side of the Business Needs is for there not to be an emphasis on the health and well being of the actors in front of the camera the creatives behind the camera who are literally on set together location shooting or on a sound. Stage which is even more intimate these are all issues that are going to be addressed that go beyond the box office were always talking about thats my emphasis on the Movie Theaters in the box office but you have to have new content new movies new big screen and small screen content to feed that chain of of content and how they do that in the future i know they i know that creative people in hollywood in bollywood and all around the world they will figure this out and we as a consumer we in might not be able to tell the difference when watching those scenes at the finale a turning point. Of concord thank you so much for your time today. Former nasa astronaut Kathy Sullivan who made history as the 1st american female space walker and breaking new ground will becoming the 1st ever woman to reach the oceans bottom arties resell rageous tells us more. Thats me on the left and dave least of all the right way made to our crew mates as we did a space walk in 1904 shes made history in space and now former nasa astronaut Kathy Sullivan has made history at sea sullivan successfully journeyed onboard high tech submarine limiting factor with pilot victor disco both to descend to the deepest point in our ocean their goal dive deep into the marianas trench to explore areas never investigated the marianas trench about 200 miles southwest of long is the deepest point on earth nearly 7 miles below the Pacific Ocean surface their 1st stop the challenger deep one thing i was hoping to achieve for this type of series is continue to expand the number of people that have gone down with all the years it was shocking you know woman had ever been down dr Kathy Sullivan definitely seems like the right person she was the 1st American Woman to space walk she has a ph d. In ocean related studies so just the right person to oversee the only. Area to enter the room made a phone call to astronauts aboard the International Space station establishing a remarkable connection from both teams on outer edges of her world after completing her trip the 68 year old sullivan became the 1st person to have been in space and at full ocean depth she tweets 36 years after my space walk i became the 1st woman to dive to the deepest known spot in the ocean the challenger deep reporting for r. T. Im resell rages. That there 1st time catch the bus on the mound brand new purple to be out by a bonfire fun through play and the apple app start by searching for an old t. V. You will see a next time. We go to work so you straight home. Speaking to west point graduates trying sage were ending the era of endless wars 4 years ago on the campaign trail he said essentially the same thing why is it so difficult for this president to make good on this promise why make the promise again if it cant be kept. In the troubled 19 seventies a group of kilos rampage through parts of Northern Ireland that was coordinated loyalist attacks to take the only catholic population of belfast tens of thousands were forced to flee their homes and what was striking to put these attacks was that the r. U. C. The Police Actually took part in the attacks so instead of presenting they were active participants in the burning of full streets in belfast at the take more than a 100 innocent civilians when the as live you can see in years and we found out more i was surprised about the extent and of the currents which the inclusion was involved in some of those cases the killers would later be named goodwin and gang i think it went to the very very top i think if he comes across. The water where politicians knew was was going on and give the go ahead to. Join me every thursday on the alex island show and ill be speaking to guest of the world of politics Small Business im show business ill see you then. Hello everyone lets take a look at todays menu to see what were serving up and eat the press rely on their wines the day their cnns enjoy the ride the feds black suspects fighting with police and taking their weapons. Guy that cant be good advice well have more contests c. E. O. Is confronted on m. S. N. B. C. S. Slanted coverage of the minneapolis riots that is not generally speaking on really inspires you started well lets hear it and talk with the man who put the top there on the hot seat dont matter about the long. Its about. Being
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