Is confirming today that its going to be testing a mobile app for storing and exchanging the war on not as a paper entity by the way but rather as a digital entity like for example. The world learned about this when this screenshot appeared on social media take a look at that right there see it you can see there from the image that this appears to be sort of a Marketing Tool to get citizens chinese citizens comfortable with the idea of using and trusting Digital Currency now its important to mention that china is stressing that this really is quote only a test but is it and if it isnt why are they so head of the game at this point force forbes one of the worlds leading business periodicals is warning the white house right now that. And ministration not to continue its present course of banning and attacking cryptocurrency in fact let me show you this recent headline from forbes it says quote why trump should unveil a u. S. Answer to bitcoin to rival chinas digital one should the white house he bet advice so what are we going to do were going to have to break this story down for you right here on the news with rick sanchez where we remain convinced that stories like this show that it really is time to do news again. Part here we go with a list of the questions we think youll be asking tomorrow is the United States making a mistake by not competing directly with china in Digital Currency what are global bankers doing about unpaid mortgages and other loans such incredible story by the way a lot of dimensions to that and then why are near riots breaking out in israel and whats it all got to do with Bibi Netanyahu all right lets begin with the question of what china is doing and why it may be critically important to almost any and every person who uses money to Exchange Goods and services this quotation supposedly uttered by Meyer Rothschild in the 1700s may best explain this story and im going to give you the quote he who controls the money controls the world right now the u. S. Really controls the money but china is vying for that control and testing Digital Currency may be some say a step in that direction lets begin today with r t correspondent ben strong. Well thats right rick b. P. B. O. C. On the peoples bank of china is moving forward with test. Now to the brand new Digital Currency the 1st major test of this Digital Currency and yes it appears that it will be done through a very Popular Food Delivery Service called mates 101. 00 of the largest apps in china with nearly half of 1000000000 users it is owned by chinese tech giant 10 cent and it has about 65 percent share of the market this makes the perfect testing ground for trying to central bank backed by Digital Currency its a project that has been underway now for over 6 years chinese authorities are pushing to have the Digital Currency fully operational they say and then use by 2022 for the olympics that will be held in china a place where they can showcase for the rest of the world this Digital Currency still a lot of questions about how this Digital Currency will work in comparison to actual crypto currency yes we do know this that the chinese currency will be linked to a holder smart phone number and transactions will take place through it and that been pretty interesting here read reports indicate that not only will you be able to use an app in order to buy and sell in Exchange Using this Digital Currency but that the technology will be designed in such a way that you can actually tap your phone to another phone in order to make a transaction the idea is to simulate the process of paying with cash handing cash back and forth between 2 individuals but again all of this on Digital Currency and all of that happening through a smartphone for the news with rick sanchez been swan thank you so much been always so good at being able to put those stories together and explaining them to us from now were joined by Chris Christies a market analyst in the cohost of boom bust here on r t America Kristie i think you probably heard that quote that i read from Forbes Magazine when theyre warning the United States specifically the Trump White House theyre saying look you know stop calling out everything having to do with Digital Currency is a joke stop attacking it and instead you should be jumping on board they were right theyre absolutely right i mean chinas progress. Words testing and launching its Digital Currency has only gained momentum during this entire pandemic crisis so now for the us that means that they have even fall and further behind as they have pretty much already lost the battle over 5 g. And right now this entire thing this threatens the u. S. Is financial dominance because the pressure is on for the u. S. To also respond and to create their own form of central back to the currency because if china successfully launches this c. D. C. It could result in the Widespread Adoption of this digital r. And b. To be used in emerging markets economies and International Trade so countries would actually no longer be beholden and dependent on the u. S. Dollar for trade. Is the chinese populace or for that matter any populace anywhere in the world ready for Something Like this that is so revolutionary how do you get people to suddenly start using Digital Currency instead of their credit curbs in their regular news in for the last so many groups of years i mean that is kind of emerging economies to begin with because that is actually the economies that are most comfortable with using things as Digital ContentDigital Currencies such as china and such as india countries emerging economies with large populations of people people who dont have access to a bank account to actually dont own credit cards who have never own credit cards but every single one of them own mobile phones all of them are connected to the internet and because of that all of them have been using accounts such as things similar to pay pal cash than most things like that where you transact digitally not necessarily with a bank account this would just be another form of legal tender that china is offering so its a central bacterial currency within the digital wallet that all the citizens are already very accustomed to using in china people already accustomed to using alley pay and hourly bucks which are very similar to pay powell and pay pal they are already familiar with how to pay digitally this is just taking a step further and making it so that instead of issuing out alley bucks which is specific to only alibi. Companies this is going to be legal tender issued by the central bank which is going to be accepted everywhere countrywide seems like forbes is right that you know its something that if nothing else we need to be keeping an eye on and maybe either investing in or competing with china in this endeavor thanks so much chrystia as usual doing a great job explaining these types of stories to us we appreciate it 3 major american banks are stockpiling money over fears the coronavirus recession could get even worse let me tell you who they are j. P. Morgan chase wells fargo citi group have all set aside almost 30000000000. 00 that they say is going to be there to try and cover loan payments that americans are increasingly unable to make those loans include Credit Card Debt that americans are making Business Loans mortgages in forbearance that are sometimes being delayed in some cases up to a year that people are telling their banks look im not going to be able to pay my mortgage for at least 6 months in some cases a year depending on the bank depending on the terms joining us now to talk about this is Jason Hartman jason is the founder and c. E. O. Of Platinum Properties investment that work hes also a very prolific investor in his own right. I guess the takeaway here jason is that banks are looking like theyre getting stingy with their money and about to become even more stingy down the line is that my reading this properly. Well yes rick you know during the Great Recession everybody blames the banks for being too liberal in their lending guidelines and giving out a bunch of liars loans the ninja loans meaning you know no income no job doesnt matter right and so now the banks or are being more conservative theres no question about it even as they have stockpiled between the 3 big banks that you mentioned about 28000000000. 00 we are seeing Mortgage Applications for both purchases and refinances go through the roof i mean consumers homeowners and home buyers cannot resist these low rates its causing an artificial boom in the Housing Market and theres a lot of repositioning as we talked about when i was on with you prior people moving to the suburbs but one of my fears is that it will see what we have seen happen or had seen happen after the Great Recession were even during is this you know this kind of vicious circle this cause and effect where the banks over correct and im on one side of the. Pendulum you know it swings back and forth right there are too liberal and then they become overly conservative and then that really hurts the Housing Market hurts the economy overall so thats one of the things we need to be mindful of is that lets hope they dont over correct it is good that theyre being careful for sure but over correction is just as bad let me take you in a different and interesting direction that conflicts somewhat with what you just postulated and with what a lot of people are saying and fearing and that is that so many people out there are going to owe so much money and theyre taking all this stimulus money but many cases they dont have jobs and theyre not going to be able to pay down their mortgages oh my god the sky is falling and that means that eventually were going to have one hell of a bad economy right ok. You know lets go in a different direction suppose that all these people are actually not idiots and because the government is putting money in their pockets theyre able to use it in a wise way and help boost our economy down the road what. If this pie in the sky or is there a possibility that this could happen as well. You know its a its a very interesting point you raise rick because you know the basis of wealth for the individual the family or the society is Capital Formation and what a lot of people are doing right now although we dont have any you know very detailed statistics on this yet but a lot of people are using their unemployment money their bonus unemployment they may not really be unemployed you know a lot of people are good workers and you kind of cant tell going on their own business its very hard to really know and what theyre doing is theyre not paying their housing payment theyre not paying rent theyre not paying their mortgage theyre in a Forbearance Program and theyre stockpiling cash so interestingly its a strange these are strange times where in some some people are actually going to come out of this pretty darn well ram or theyre living in an apartment and not paying rent or getting a reduced rent are getting some sort of loan workout on a mortgage either side renter or or homeowner but there are there are there are using that to save money because theyre living in their house for free or at a reduced price so youre saying that by them stockpiling this cash what we could accept actually have is the opposite of what many are predicting that we could have either a big or small boom economy somewhere in the near future. Yeah i dont know its hard to tell id say that it is 1st the pandemic goes were probably in the 3rd inning ok so. Its still early we were in the 3rd inning and weve got a ways to go the economy is definitely in trouble theres no question about that but there are definitely some bright signs talked about before theres a shortage of supply and housing automobiles lot of Consumer Products and so this is the supply demand shock that we talked about on a prior show. Great stuff as usual Jason Hartman joining us to talk about some of the things that may be happening from on the ground perspective which is where he lives by the way which is not theory or thesis but actually whats going on pragmatically thanks again jason appreciate it thanks rick this is the news with rick sanchez and youre watching our special coverage when we come back were going to talk about whats going on with the coronavirus search all over the United States in one place in particular with a where it is well be right back stay with us. You can be both with the yeah you like. The corporate coup detat has destroyed our Democratic Institutions the commercial media has been less part of the reality show president s expose the trivia lots see on contact question more. Ive seen the horrors that arise the money in evil. Corporate criminals who trashed countless lives to add just one more dollar to their billions. 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. Thank you for finally. Understand youre tired of networks ready. You know me d im famous truly. Im holland cook i invite you to climb with me of the Mainstream Media and from that higher vantage to glimpse the big picture question more. They welcome back im rick sanchez were going to turn now to the corona virus pandemic where today the hot zone continues to be south florida several sources and the medical community that i have spoken to over the last 48 hours are telling me that they fear that hospitals may be on the verge of running out of 2 things that are very cryptic critical the medicine rendez of here for example an intensive care unit beds but its not just florida d where this surge is taking place its all over the United States and in many cases in hotspots all over the world our responsibility to you is to try and highlight some of them and tell you whats going on so lets go over now to our t. Correspondents have been here shes the map all that kind of break all these numbers down for us where you got more than 13500000 people around the world have been diagnosed with the virus 7900000 of which have recovered and more than 585000 people globally have died with the u. S. Brazil u. K. Mexico and italy accounting for most of the deaths now just here in the u. S. More than 3500000 confirmed cases 45 percent of which have recovered while a 139000 people have died rick. But i also you know just like you said i want to take a look at the next map that i want to put up and theres also new hot spots that are emerging all throughout the states. Throughout the u. S. I should say as states like oklahoma and the vatican are reporting Record Number of new cases and also hospitalizations and deaths and as these numbers keep climbing you obviously see that this pandemic is far from over specially here in the u. S. Thats now reporting on average about 62000. 00 new cases per day rick and thats triple the average just a week ago you know its interesting as you show us that we see look at look at the map everybody just right behind their look at that red area as it seems to accumulate around the states of South Carolina georgia alabama mississippi parts of texas but the but the real ground 0 there seems to be florida writes right here yet not thats exactly right because you know we saw the news surges and the majority before where in texas california and florida but like this is thats the thing rick florida has about how the population of california and about 25 percent less than texas and as of tuesday florida has the number 2 death rate in the country in fact the number of new cases reported in florida alone over the past week surpasses the total count on most European Countries and if florida was its own country it would have the 8th highest case in the world but this is the thing where as new cases in florida mostly in the Miami Dade County before theyre now spread all over to in or really going out and going around the virus and currently 54. 00 hospitals have reached i. C. U. Capacity in florida with 0 beds available is 0 beds now 10 of these hospitals. There Miami Dade County and now there are 40 hospitals to i. C. U. At 10 percent of valid vailable capacity or less and i mean its just really bad news for florida but i also want to make another point so both the c. D. C. And the World Health Organization now recommend that people were masked as a way to slow the spread of the virus but and the c. D. C. Has even stress that the u. S. Could get under the bed could get a pandemic under control in less than 2 months of every single American Worker mask but still florida refuses to have any kind of mandate versus taxes that even has some kind of requirement and california so it seems were just going to see the numbers keep climbing in florida if nothing changes rick yeah it looks like theres a lot of fragmentation when it comes to the policies that different. Different Public Officials are putting into gear its amazing by the way what you just said that number you just threw at me is startling if florida were country it would be the 8th highest country in the world in terms of in terms of coronavirus cases while. Its a good job thanks so much for bringing us the numbers we appreciate it near riots broken out on the streets of jerusalem as protesters took to the streets there to call for the resignation of the countrys Prime Minister police used crowd control measures like tear gas and barricades Water Cannons on demonstrators who say they are fed up with Benjamin Netanyahu and his alleged acts of corruption the Prime Minister is presently under indictment you should know so heres our tease paulus lear with more on the story. Well thousands of protesters tried to break into the Prime Ministers residence in belfast street in jerusalem they were carrying torches and they saw trash cans and life in all 50 objects the police and showing that it was an event that this makes a coincide with the storming of the best studio in farms and it took the police several hours to bring the situation under control now the protesters consider themselves part of the discourse the black flag protest movement that may go is to see the overthrow of the fine minister Benjamin Netanyahu there against his continued government many of those who were from the streets of people who have been suffering the effects of public mind feeling that lost their jobs many are out of work but they say its not only dependent itself that the Prime Minister is not got a grip on things he they want to see hes gone from power they are fed up with his corruption look at what some of them have to say heres a bit theres a good chance that the people will realize that there is a leader dragging us to a dangerous place this is why im here and i hope that in the coming demonstrations all others will join the protests. All groups must unite every day not just once a week to protest and in the end she will go home. For 3 years out in the streets to get a set of partnerships between them and if we have every misstep it was strange that i talked to Prime Minister jack bags at one point the peace having to physically move people from the gates of the Prime Ministers residence in place to some 50 people for disturbing the public order and also carrying objects at the police and at journalists the protesters issued a statement in which they said that the Prime Ministership at the sponsor please and they called for him to do so by and by resigning they also say that the Current Coalition is do nothing to. Improve the lives of ordinary israelis least of all the time of conflict 19. Of policy are reporting to us on the situation that were seeing there on the streets of jerusalem George Galloway joins us now to talk about this you know this is a side of israel that a lot of times the world doesnt see it is a robust democracy with people who have very different points of view how big a problem george do you think Prime Minister netanyahu has on his hands with this. I think its very serious i think it could be the beginning of the and gave he is in any case as you said indicted facing trial on serious Corruption Cases its extraordinary in any country such a person could still be sitting as the Prime Minister of the country but he keeps on winning or at least not losing the elections 4 of them in a row every one of which he was predicted to lose but somehow stays in the Prime Minister spot the deputy Prime Minister on a rotation now benny gantz has more or less the same policy as him towards the wider middle east issues but as youve rightly said this is about domestic politics its about corruption coronavirus unemployment spreading poverty and a sense this Prime Minister is not going to be the man to get out of this steep downward slump the country is in so if you or my owners prediction i dont think hes much longer for the premiership but he is the longest serving one theyve ever had you know its interesting it seems it seems like theres a pattern going on here george all over the world whether its the United States or the u. K. Or brazil or israel leaders who may have had some perceivable flaws those flaws seem to have been heightened if not exploited suddenly. By whats going on economically and health wise all over the world with his covert 1900 pandemic. Thats exactly right you know when the bus is going for want then nobody needs to worry whos driving it but when the bus is lurching and slumping and maybe even crashing thats when people start to raise questions if basic levels of competency are maintained political leaders can get away with a lot but if the public suddenly decide that actually we dont like the direction that we are travelling in then no power on earth can stop it as you see israel is very disputatious people they are fiercely democratic you have to leave the big picture out of it internally fiercely democratic and the law doesnt hang up when corrupt politicians are around several israeli leaders have actually ended up in prison never mind being office so i think that as we see in scotland rick his jacket is on a shaky nail. You could always count on you george to come up with some great idioms to share with us there and we certainly appreciate it George Galloway thank you my friend always good to have you on here ok heres what were going to be doing throughout the course of the day were going to try and keep an eye on some of those numbers for you to try and bring you the very latest on whats happening not just in the United States but all over the world theres also been a controversial media story with a reporter who has stepped down a writer at the New York Times its making a lot of hay not only in the world of media but in the world of politics as well and were going to address that as we continue right here on the news with rick sanchez like to say its time to do it. During the vietnam war and for years the American People did not know. We mounted laos now my skin is officially a mouse can rebound country per capita. Human history millions of unexploded bombs still in danger lives in this Small Agricultural country jordyn wieber. Even today kids in laos full victims of bombs dropped decades ago is the us making amends for the tragedy in laos wont help to the people need in that little land of mind. Is your media a reflection of reality. In a world transformed. What will make you feel safe. Isolation community. Are you going the right way or are you being led. By. What is true what is fake. In the world corrupted you need to descend. To join us in the depths. Or a mate in the shallow. 54 jets and more than 1300 military personnel are headed to heal some air force base in alaska where is that to say come on ill show you whats the reason for any type of enhanced us. Military presence in this area of russia. What is it suddenly about the South China Sea that makes it so. You take a look at this map who really owns what kind of says no it belongs to us india says no we claim that that belongs to us both of these countries have Nuclear Weapons capabilities there is reason for concern so thats why were going to drill down on this story for you today right here on the news with rick sanchez where you know as we always like to say we do believe by golly its time to do news again