The week the ruble had struggled in recent weeks as oil prices fluctuated but following the constitutional reform this week the countrys currency strengthened against the dollar its looking ahead now russias alfa bank warned that the u. S. Could play sanctions on russia if the report regarding bounties on u. S. Soldiers is confirmed and lets move over to asian markets where the shanghai composite is up on the week its hitting new 52. 00 week highs the composite gained 2 percent on friday alone after positive data showed increased prospects of economic recovery after the pandemic in hong kong the hong saying also up this week with 3 percent gains on thursday this is after promising news regarding a possible vaccine friday saw gains due to positive Economic Data and even a better than expected jobs report out of the us now some of the biggest winners this week for hong kong were the Hong Kong Exchanges and a clearing ltd and tech giant 10 percent which both hit the 52 week highs. Pans nikkei also hitting that same trend and is up the end lost 2 percent early in the week due to a global search and coated 19 cases but it clawed back those losses as positive data raised sentiment over to india where the sense that is also up for the week is it finished with 3 Straight Days of gains this was pushed up by the countrys Largest Company Reliance Industries but concerns are growing as india is seeing a record increase in corona virus cases in australia the a. S. X. Also in the green again just under 3 percent for the week the market is reacting to hopes of some future stimulus in south africa the all sure was a roller coaster this week it actually ended up on a stronger rand even as new data did show that the economy was already contracting prior to the pandemic and lets move over to european markets we have some a little bit of a mix here the footsie 100 finished down for the week as concerns over coronavirus started to grow and the country starts to lift more restrict restrictions well the french cac and german dax are in the green for the week as well both fell slightly on friday over the pandemic but positive Economic Data really helped to maintain some of those gains and lets move across the atlantic to brazil where the evil best buy is in the green the end gained 31 percent in the 2nd quarter of this year but its still down about 20 percent from year to date these are from highs seen at the end of january the b. M. V. In mexico also managed to stay positive this week after u. S. Job numbers reported on thursday the mexican peso also strengthened against the dollar as oil prices saw some gains later in the week in the u. S. All 3 major indices the dow the s. And p. And the nasdaq finished up markets were closed friday for the Independence Day holiday now despite new record coded 19 cases jobs data help the indices also seeing the law. Largest quarterly gains in decades after this huge economic losses due to the pandemic at the end of the 1st quarter finishing things our interim toe the ts also in the green the end x. Was close for a can of day on wednesday and it saw a spike on thursday Economic Data weve been talking about but the t. S. A. X. Did take a small hit on friday over a more concerns over the coronavirus job numbers will be a huge factor and what were seeing in markets in the coming weeks as some areas roll back their plans to reopen due to this recent spike in new cases and that is your Global Market walk. Nafta is out and the u. S. Embassy is then as President Trump signature trade deal with mexico and canada is now in effect but even though all 3 countries have agreed to the deal there are still a number of questions about how it will be implemented and the effects they will have on Major Industries are going to love and now to break down the details rachel what can we expect from the new well the german ministration is branding this as the greatest modern trade deal and theyre really amping it up and its interesting because in a lot of ways when you look at it it is the new version of now and when we look at some of the provisions that are included in it we see that there are new protections for intellectual property and digital trade and its provisions include requirements for mexico to enforce stronger labor laws and oversight for its workers and it notably rolls back a system of arbitration that allowed companies to sue governments for unfair treatment now u. S. Trade representative robert light hisor referred to this and that is expected to create tens of thousands of new jobs for americans about something well have to see as it goes on and there might be a little bit of an effect here on the Auto Industry on that sector whats on that front right well the Auto Industry has been hit particularly hard by the coronavirus pandemic in fact theyve are. Ported a drop in cells of 30 percent just for the 2nd quarter of this year now when we look at how theyre going to be affected by this new deal coming in we see that they will be required to use 75 percent of north American Made parts for cars up from 62 percent under nafta then 70 percent of a car steel and aluminum parts must come from north america and a percentage of duty free imports must come from factories where workers make at least 16. 00 an hour now all of these new changes are expected across the Auto Industry at least 3000000000. 00 within the next 10 years and thats after theyve already cut thousands of jobs within the last year thats right thats a huge sector and we know that a lot of the most countrys g. D. P. Comes from the Auto Industry because it employs so many people around the world but what about mexico and canada these partnering countries what are some of their biggest and Major Concerns here well of course President Trump has been very excited about the fact that they agreed to this deal in the 1st place but that hasnt taken away all of the tensions and weve seen reports that when it comes to canada trump is considering actually re imposing a 10 percent tariff on aluminum if the country does not cut down on the exports like the trump ministration is calling for to and then when it comes to mexico u. S. Lawmakers are also voicing concerns and saying that mexico is not doing enough to follow through with those labor commitments that they agreed to in the deal so there are some areas where we could see some conflict moving for a lot of gray areas here locally at least at the to this new deal took effect this week but again so many questions remain as to how they will be implemented especially due to the pandemic thats already affected several countries around the world at least every country around the world by far Rachel Blevins r. T. Correspondent thank you for that report thank you. In the midst of the resurgence of coronavirus cases around the nation more and more people are looking to move to a Cashless Society well that means that fewer people worldwide are handling cash and more are either using credit cards or debit cards Online Shopping or. Looking to use Digital Currency as well a. T. M. Use is down 32 percent and according to visa 63 percent of people are using less cash but there could be more reasons for this than just germs well joining us now to discuss our boom bust cohosts ben and ben lets start with you why are we seeing fewer people using cash these days and is it in part really in fears of transmitting germs. I dont think most of its about transmitting germs even though money is filthy when you do pick it up its covered in germs but i dont think thats really the reason here i think the bigger reason i mean its obviously kind of common sense right when you have the economy shut down across the world fewer people would be accessing a. T. M. s because why do you need cash where people get cash when they go into restaurants when they go to bars they go to nightclubs they use cash when they go to hotels and they use it for tipping people in this case none of those services have been operating for months now and so the shut down in certainly the Service Industry would have a big effect on that plus when people arent shopping as much in stores and theyre doing more ecommerce in order to buy their groceries and have them delivered items from amazon whatever it might be so much of the shopping right now is online not just out of convenience but because you really cant do it any other way so i think thats a lot of it i think thats what were actually seeing when visa says you know 63 percent of people are using less cash and now using online its because they have to at this point while in a lot of stores and restaurants a lot of places are actually doing contactless paying where theyre not even taking cash right thats true no absolutely true and not only that but you have a lot of places where even if you do eat at a restaurant as youre saying you order ahead of time you dont go inside in order so youre ordering that ahead of time online and then you go in and pick it up and pay ahead as well christina the Senate Banking committee is looking into the possibility of now creating a digital u. S. Currency as weve seen other countries do such as and as well and now china how likely is it that the u. S. Will create this Digital Currency even in the near future. I think as an area likely because the pressure is certainly mounting for the u. S. To create this c. B. C. As its biggest competitor and the tech arms race just recently began testing its own Digital Currency that will be launched on we chat and so for us this means that they will fall further behind theyve already lost the battle over 5 g. To china so now its going to be Digital Currencies which essentially will command the future. Sure of International Capital flows so right now thats the biggest concern because if china launches their digital army successfully this will result in a Widespread Adoption of the digital r. And b. To be used in emerging markets and International Trade so countries will no longer be dependent and beholden to the dollar so a lot of this whats driving this decision right now is fall most fear of missing out and its kind of important to note that in News Committee hearings the discussions are now revolving around how rather than if the u. S. Should put together a c. B. C. So right now there is still no active development yet for this any time soon but there certainly is a notable shift and tone which signals that this is a very real possibility especially when states like china and even corporations like telegram and facebook theyre actively trying to take finance into their own hands ignoring the u. S. Students hedging money as a limiting factor definitely looks like the u. S. Is just about ready to join in then do these Digital Currencies harm some of the most vulnerable in our society i mean People Without Bank accounts for instance. Well it certainly can look some of the people in society who do not have Bank Accounts are obviously affected by the Digital Currency or even the Cashless Society as i mentioned before to people who work in Service Industries who are reliant on tips dont necessarily get them as often when you dont have cash and cash to society so i think there are certainly some issues there but remember the crypto currencies themselves were originally designed to go around the Banking System not to be part of the Banking System so the whole idea behind crypto is that you have a Digital Currency that allows you to bank yourself you become your own bank without having to go d through these other systems when the u. S. Government starts talking about doing this theyre not talking about going around the Banking System theyre talking about doing the exact opposite of what crypto currencies are designed to be which is anonymous decentralized and peer to peer instead the u. S. Government wants it to be completely centralized they dont want to be peer to peer they wanted to be still running through them or through banks to you and they still want k y c know your customer and that way there is a control of the system but i will say one other thing i do think of the u. S. Moves into the space its very likely were going to see a collaboration between Silicon Valley and the u. S. Government to create it i think thats what Mark Zuckerberg is ultimately trying to do with libor i think he wants it to become a coin that the u. S. Government would use but remember the u. S. Government constantly outsources right now so many issues to Silicon Valley i think this will end up being one of those things so what about the most Vulnerable People that will that were talking about society not just us of who dont have Bank Accounts but the homeless who usually take cash from people. Yeah absolutely its a its an enormous issue for them its an enormous issue again for anyone who doesnt use a digital system so when you eliminate cash from the system you have to create some kind of method by which people are able to still engage in society financially and right now that doesnt exist really on the Digital Space unless you at least at the very least have a cell phone right christi if the u. S. Does actually move to this national debt. Currency how does that affect decentralized currencies such as a big point that really become true competitors to than the digital dollar. Well i mean if the u. S. Does adopt the c. B. C. Which is a very real possibility right now but quantum would be more valuable than ever because its exactly what ben said theyre not even competitors this is like comparing apples to oranges because the Central Digital Bank Currency will never replace because that is not a true crypto currency its still centrally monitored and maintained it will still be subject to exact same problems that currency has today theyll still be subject to inflation and theyre open to manipulation by Central Banks and make it even easier for the Central Banks to either tighten or loosen the quiddity over so c. D. s these are merely a digital version of the our currency which makes it more dangerous than ever because that means every single purchase every single action will be tracked and we just talked about the currency crisis in lebanon yesterday and if there was ever a currency crisis in the us and we ran on c. B. Can you see us do you think that youll be allowed to swap into a safety currency do you think that you can even swap to gold or yen or anything for that matter like no youll be locked up and forced to watch the value plummet and right now state control is downright just offensive to bit quine which was created to challenge the Financial System and return ownership of money back to the people beyond the reach of state so on the surface it seems like the digital daughter dollar might displace the coin simply because theyre all digital but thats actually the complete opposite it will help that coins popularity because ill make Digital Currency and contact list payments mainstream forced adoption of the well but more importantly people will realise that big point is special because its cares and uncompromising a political and waterless well thank you for clarifying and breaking that down for us because there is that confusion that it would be become some sort of a competition and we know the u. S. Really is looking to move forward with with this who must cohost spend so on and kristie i thank you again for joining us. Time now for a quick break but hang here because when we return our teams rick sanchez joins us to discuss Global Politics them and the pandemics crisis as markets point to some optimism over back in just a moment. Its called the feeling of freedom for. Everyone in the world should experience for me and you can get it on the old the old. The old according to gesture. Welcome to my world come along for the rock. Scene the horrors that arise the money in evil from. Corporate criminals who trashed countless lives to add just one more dollar to their millions. They threaten they bribe theyll do anything to keep their crimes in the door but the people theyve heard are demanding justice their stories need to be told on americas lawyer. Oh. Lay should. Take a bite. We go to work so you can stay home full. Yeah the corporate parasites in power today might think their role in you forever whether theyre right or wrong we have to keep fighting. A covert 1000 cases continue to spike ahead of a Holiday Weekend here in the United States but this didnt stop president truong from gloating over the roaring a column e. Following thursdays job report the one that showed the country added nearly 5000000 jobs in june as unemployment fell to 11 point one percent but the 2 president ial candidates for the november election had 2 very different takes on what this means. Like you Just Announced the spectacular news for American Workers and American Families and for a country as a whole theres not been anything like this at record setting it was just. Put out that the United States economy added almost 5000000 jobs. In the month of june shattering all expectations so this president s face is going to our country our economy is going to risk todays you forward as positive news not thankful for it for real but make no mistake. Were still in the deep deep. Because donald trump is so badly bungled the response to crown a virus and now is basically given up on respond you know. From our we bring in rick sanchez host of the news with Rick Sanchez Rick happy birthday thanks for being with us today. Thanks and lets start with this question can President Donald Trump run on these record highs for the nasdaq and the 11 point one percent unemployment. You have a good point one percent can you imagine of rather the United States trying to get elected with unemployment at 11 point one percent last time a president did that it was george bush and he got trounced because thats look. You know the expression right its the economy stupid its always been used in politics its true the economy is down people blame it on the president whether its the president s fault or not it doesnt matter the fact of the matter is thats just the way things are set and its really a triple whammy for this particular president because hes dealing with the coronavirus and the fact that our government has done a horrible job dealing with it whether its his fault or not doesnt matter the economy is not in a good position despite the fact that any one day you might get good numbers and. The racial unrest thats been going on also makes people feel uneasy so look elections are won in the middle right the people who have over truck know they going to vote for drop people going to vote against the go to vote against rob so its who decides this election that 10 to 15 percent of americans who eventually have to say to themselves do i have trumped the tea and my comfortable with this person last go around so many people dislike Hillary Clinton that donald trump was able to win because people felt like they needed a republican in the white house its going to be very difficult this time around in fact let me just share some numbers i just checked real clear politics which is a sample of all the polls that are done right now. And heres what i just found this is right off the presses they say was gone some drums down by 7 florida drums down by 6 michigan drums down by 8 pennsylvania drums down by 7 North Carolina which trump won its a red state trumps down by 3 arizona trumps down by 3 again republican state ohio is tied texas is tied if you can believe that these are not good numbers if the election were held right now donald trump would be trounced by a guy who doesnt have to do anything except sit in the background and hopefully get that position let me ask you this rick that last election we saw the fame up poll numbers in 2016 we thought Hillary Clinton had it in the not better than like the no no no about it no no not at all but nothing close the numbers that i just read to go dont have anything to like what Hillary Clinton Hillary Clinton a best at one point was winning by 4 or 5 points and by the way the polls were right about Hillary Clinton she did win the election particular for the National Polls so right now if youre going to ask that by the way thats a great question what are the National Polls now most some there are some National Polls now that have doll dropped losing by 16 at best i dont know and its really up by something i mean i guess it all myself im a little skeptical myself i hear you im just from from what we saw in the past and i hear what youre saying but a lot of investors and Business People who who vote for trump who are watching and keeping a close eye on the market for them doing while because you know theyre making their money theyre going to go out and vote for trump are they not. Know they feel like safe. They think the stewardship that they did not trust Hillary Clinton with. Their more apt to trust joe biden with because joe bidens a caretaker hes not a revolution. Should marry hes not seen as a communist hes not seen as all those things that were fairly or unfairly cast that cast on Hillary Clinton so if in this particular clip case when you take the economy when you take the racial unrest when you take the coronavirus and the bad handling of it and you put all that on top of donald trump it really if anything else favors the candidate the democrats are running whos a guy who by the way is you know. Well he is who he is hes even but its not my place to judge any candidates im just like youre looking at them not i is the fact of the matter is joe biden can sit in his bunker and end up doing very well because of all the things that the america that america is going through right now and thats all i mean those are the numbers thats a fact one bite and we know what to expect with biden well well wait and see how they actually are covered but speaking of the handling or mishandling or the crown of virus pandemic lets take a broader perspective here were still seeing the coronavirus cases spike a lot of states are now shutting down or halting their reopening the u. S. Purchased nearly all stock of the corona virus trigram does appear this is a drug made by gilliatt right that provides useful treatment to the sickest kogan 1000 patients is this the u. S. Being a protectionist what do we think. Well. The answer to whatever issues come out of this cove in 1000 situation will have to do less with red as a fear which by the way has really been a very effective drug and for people who are hospitalized and in the secondary or tertiary stage of this disease it is very effective in other words not for somebody who just got it right somebody whos had to be hospitalized with it its very expensive so theyre going to do very well with it the real answer here is going to be from johnson and johnson from sanofi. A french firm mcgurn a ad from astra zeneca if youve got a couple of extra bucks and you want to put it in the stock market look at those companies because those are the companies that right now have the edge when it comes to the vaccine right and one of them the French Company sanofi already has tested starting in april Something Like 300 people in other words theyve already injected people with this particular vaccine and theyre making 100000000 doses of it hoping that it works the question is does it work nobody knows at best we might know sometime at the beginning of next year most likely will start seeing vaccines rollout if they roll out some time in the summer of next year so we still got a long ways to go will they work will this particular virus 1 mutates so if it works it doesnt work on everybody and it may not work in the ranger and theres just a lot of uncertainty out there which is why the market is going to remain somewhat unstable for some time and a lot of uncertainty even as the that were putting billions and billions of dollars a buying doses of these acting that we dont know whether or not will work is it going to be at each country france for themselves is a you have to do the u. S. Have a big advantage in getting a vaccine. This is but by the way think about what you just said this is crazy the idea of the manufacturers would be producing 100000000 doses of not just one but maybe having that they dont know if it. Right but they dont even know if its going to work yeah i mean modernity i think has a plan to have. 100000000. 00 now by the end of the year or Something Like that while theyre still testing the vaccine i mean thats i mean thats like manufacturing a 100000. 00 cars without knowing if the tires work or if they run i mean its crazy but ill tell you what is interesting look at this graphic look at this graphic that weve put to. Gather to show you whats going on right now in the United States with regard to your question about how were being affected. Look at the United States there which is the yellow line so covert 19 goes up then it starts to flatten but it never really goes down and now its going straight up right look at the other countries they were able to bring it up and then they were able to bring it down the fact of the matter is because we have failed to deal with covert 19 and maybe the worst country to deal with this right now its a bad place for the United States and the world is seeing it that way which is why americans are being banned from going to europe right if you believe the other way around where the how he is behaving or where the when the banning placing the bans on other countries rick sanchez thank you so much for your time today were out of time my friend have a happy birthday and a safe Holiday Weekend. Thats it for the time with you next time. Unilateral Police Station of occupied territory is evil under International Law this is exactly what Israel Intends to do when it comes to the west bank on this edition of the program we just goes flying israel is doing this International Reaction in the state of the callously. America and so long as theyre growing at propitious rates because america empire right because its easy for the top to feed everything and little nothing for everyone else america would be better off if it was not an empire so the collapse of the u. S. Dollar will be painful for a period of time but what comes on the outside will be i think a lot more amenable to no. Secret prisons and usually what comes to mind when thinking about europe however he even the most prosperous can be deceived within this 0 zone there were 2 view houses were. Preserved were located and the only people had access to the story investigators she held the uncovered the darkest dealings of the secret services but i mean. The great ignore. Crying for justice on ati. Cards just. 1. 1 from. The world according to. Today we discuss why the troops may not be leaving afghanistan after all. Price gouging essential medicine. Rest warrant for president. Bush. I am Brigida Santos for our top story today u. S. Intelligence officials have accused russia of secretly paying bounties to taliban linked militants in afghanistan to kill occupying american troops and their afghan allies in the region the allegations were 1st reported by the New York Times but since the Mainstream Media has parroted evidence free claims about weapons of mass destruction in iraq genocide in libya the gulf of tonkin it cetera many people are now questioning the validity of the intelligence communitys latest allegations especially since they coincide with the trump administrations plan
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