Funding that aids or supports china or that directly or indirectly counters chinas unfair competition and malign activities and influence globally now this comes from a document titled strategic competition with china crosscut but that document does not indicate how the information is going to be used it only currently says that it will inform policymakers on the many different ways the u. S. Spending involved china on the campaign trail us President Donald Trump continues to hit china as a work that still needs to be done to protect the u. S. I think were way ahead of what we were 4 years ago and is far more enthusiasm our base is bigger stronger and weve done the greatest job again if we didnt get hit by the plague from china this thing we wouldnt even have between us i wouldnt cancel the congressman most of the rallies i wouldnt need it around and. Thats a little bit unfair but thats ok thats what john is done to our name. Theyve screwed us for a long time or a lot of different ways no never has anybody ripped off our nation like china and ive take it in billions and billions of dollars we never took it we never took in 0. 10 from china and i gave 28000000000. 00 right 28000000000. 00 to the farmers because they were targeted unfairly by jonah. So how does this latest push to inform policymakers on how us spending involves china affect the relationship between the 2 nations well joining us now to discuss our boom bust cohosts ben swann and christiane thank you both for being here as always kristie i actually want to start with you. Is this new document just another way of presenting china as an economic threat to the United States. It really is as the u. S. And china have grown increasingly antagonistic towards each other this budget data request will apparently be used to help policymakers strategically when responding to china so a spokesman for the o. M. B. Confirmed the agencys effort to quote ensure that the u. S. Remains strong and in a position of strength against rival nations like china using language like rival nations Like Fighting words so the white house is not asking for data on all u. S. Government funding used to counter chinese influence such as the bell and road initial funding for military Infrastructure Spending on communications e. B. Space tech and more so right now as it currently stands this is a Fact Finding Mission in a data gathering effort at the moment it is kind of laying the foundation for what steve benen referred to several years ago on 27000 as quote draining the swamp to see what lies underneath but the budget of you could lead to more actions against china eventually no ben we know the Trump Administration isnt just talking on these issues in fact President Trump just made another statement on air force one that his administration is looking to banning even more chinese apps that says quote could pose a National Security threat and quote which apps is actually talking about here. Well he hasnt specified which apps is talking about but based if you base what hes saying what india is doing india just banned about 118. 00 different apps most of them are gaining apps that come out of china some of those companies are owned by by dance by 10 cent and some by alibaba but i think the bigger issue is this that what the trauma ministration is really responding to is the fact that there was essentially a kind of checkmate to their move over to talk in the last week and as you and i have talked about on the show before the fact is the Drug Administration came forward and said were said the deadline and to talk has to be sold thats the u. S. Canada new zealand and Australia Operations by essentially september 15th by dance look like they were going to do it and then the chinese that was the checkmate was when they came in and said were changing the rules making sure you understand you cant do this now all of a sudden we went from there will be an announcement about to talk in a couple of days to everything seems to a stalled out so so far it seems like that move by the chinese kind of worked in countering what trump was trying to do by essentially taking away the most successful social Media Company in the world right now and handing it to an American Company and in the meantime the response to that i think from the german ministration is they dont want to look like china got the best though it will have to ban Something Else out order to kind of show that were still strong in this you know because they want to get your take on that because china did seem to successfully halt the trip administrations for sale of tik tok is that just a speed bump more or has the sale been actually complete or killed completely. I dont think its been killed completely but china is known to be particularly savvy play into politics and stalling and as you know stalling and running out the clock is particularly effective especially when were talking about Election Year so china is fighting back accusing the u. S. Administration of stealing chinese ip stealing chinese tech and chinese jobs so very hypocritical since thats what trump has been accusing china of doing so for the time being beijing has set up some very effective roadblocks that would make any deal impossible within the timeline demanded by washington right now so theyre basically stripping tech talk of its recommendation algorithm and requiring the government approval for its sale so it makes ticktock a very unattractive target so its like buying a fancy car with a cheap engine are like the crown jewel defense where you strip away the most valuable assets to make it a less attractive target to take over so now the takeover front 7 runner is where microsoft walmart or will they now actually have to reevaluate how much ticktock is actually worth if it doesnt come with the algo its not very attractive without it and its not a very Smart Business decision to buy it at this point so meanwhile tech talk is filing the lawsuit challenging the effective order to ban tech talk without due process and currently its all so unclear what authority that the president has to actually ban an app in the 1st place when we have these escalating tensions between the nations that it could become kind of a punch counterpunch scenario and now were learning that china is plenty to do it u. S. Treasuries how much of an impact can china have on the u. S. By doing this. So this was a move that weve explored last year during the height of the trade where there were frequent rumors that china was looking to like go slow on nuclear by selling some or all of its over one trillion dollars of u. S. Securities so this shadow was an all talk after peaking in 2013 the chinese holdings of u. S. Debt have been steadily declining and are currently near the lowest levels in 8 years but 1000 gradual unwinding beijing has never shocked the market with any major liquidation so far but now the continued escalation. That threat may not be too far off now so it is cause for concern and certainly suggests that the fed may soon have to step in with another massive cutey to purchase whatever china has to sell so right now beijing the latest beijing publication announced that china may gradually reduce its holdings up to 800000000000 from the current levels of one trillion after the us federal deficit increased its risk of default and so the key reason stated for the liquidation is that theyre concerned about the writing debt levels of the u. S. Deficit is already hitting a record of 3. 3 trillion so its a very legitimate concern but at the same time this will also nosedive the value of chinas main treasuries and holdings and to stabilize our base at the very double edge sword of our bed and i got about 45 seconds left but i want to hit this last point chinas actually expected to surpass the United States to become the Worlds Largest economy within the next decade what can you tell us about that yes we do see that china is on track to do that thats according to a report that came out of beijing that look the german ministration is doing everything that it can right now to slow that down the question is going to be whether or not voters agree with what the president is doing i would say the president s kind of staking some new ground here where past administrations have not taken such a hard line stance with china hes pushing that certainly on the campaign trail right now as we heard in those sound bites you played earlier and the question will be for voters is whether or not they agree with this and they want to slow china down and try to keep america dominant around the world versus whether or not they want to vote for someone like former Vice President joe biden who obviously during the Obama Administration had a much softer line on china i think it really comes down to how voters see it and we dont know the answer to that yet boom bust cohost ben sworn in christie hi thank you both for your time. And the final 2 days of the week have been tough on wall street which generally has an impact across the globe so lets see where things ended up where to start in russia where the mo x. Is down for the week after some volatile days now this week the ruble plunged to its lowest level since the height of the pandemic oil and gas also contributed to those losses as the countrys economy relies heavily on the Energy Sector lets move to asian markets in china the shanghai composite its down for the week despite an increase in the countrys Services Sector activity in august now the index dropped nearly one percent on friday alone following wall street sharp declines in hong kong the hang seng well that is also in the red for the week the index fell on the news that the tick tock sale could be in jeopardy even as china and see it launched a new tech e. T. F. Listed on the exchange now the index still fell 1. 25 percent by the end of trading the nikkei in japan well its just barely up for the week by 1. 4 percent still following similar trends the index closed lower on friday after a sell d off in u. S. Tech stocks pushed wall street to its steepest fall in months in india the sensex its also down for the week on week Global Economic data as well as that massive sell off on wall street going to see that trend over and over again now the metal index was down 3 percent followed by the farm up bank and Energy Sectors in australia the assets followed similar trends the index plunged and suffered its sharpest one day loss in 4 months a 3 point one percent dive on that wall street sell off plus they entered their 1st recession in 30 years in australia the all shares in south africa is also in the red the rand is weaker as the countrys major retailer treuer its International Reported a 28. 2 percent decline in full year earnings were going to go ahead and move to europe in the americas where were seeing pretty much. A lot of the same here in london the foot the its in the red for the week that tech sell off on wall street weighed heavily on european markets on friday the u. S. Labor department reported adding one point 4000000. 00 jobs for the month of august helping european markets gain back some of those losses the footsie 3 month the lows this week the german dax well its barely down while the french cac it almost finished positive for the week but went red late friday afternoon both reacting to the trends were seeing across the globe on thursday france revealed a stimulus package worth 100000000000 euros to prop up the economy now were going to go across the atlantic to brazil the ebo best but its also down on the week latin americas largest economy plunged to levels it hasnt seen since 2009 g. D. P. Fell by 9. 7 percent for the 2nd quarter of this year the most on record industry fixed as a fixed investment and Household Consumption they all contribute largely to the loss were going to move north to mexico where the b. M. V. It is down for the week the country has lost more than 12000000 jobs over the past few months the b. M. V. Fell on thursday again on that wall street tech sell off here in the u. S. All 3 major indices they are in the red the dow the nasdaq and the s. And p. The textile off brought all the indices down now on friday those tech stocks deepened but travel stocks and retailers they helped push the market back up just a bit but not going positive at all financial stocks boosted markets with a jump in yields j. P. Morgan Goldman Sachs and citi group they all saw gains on friday and finally the ts x. In toronto its also down on the week the Energy Stocks actually weighed down the index with Oil Prices Falling to early august lows the index was up on friday on lower unemployment and more jobs added in august now moving into the holiday week here in the United States we will keep an eye on the tech sector to see if that volatility will remain or if markets are going to bounce back and that is your Global Market walk and time now for a quick break but hang here because when we return the pan. Has delayed several high profile movies this summer but the 1st blockbuster of the season is getting released this week we have an analyst here discuss the state of the Film Industry and as we go to break here are the numbers that. Insulin resistance is affecting people all over the world and its a condition that wreaks havoc on the bodys metabolic and immune systems and results in poor quality of life for many. People to realize that a sweet treat can be the worst poison. Throughout its history with the selfproclaimed Islamic State terrorist group up to 30000 foreigners from all over the world to fight for the. Sounds. Russian citizens left their country to join the terrorists often bringing wives and children with them. But hes not c. S. I. The bell and i didnt post on you read that you see me but as an you could move. All on you to the moon hundreds of children and widows were held captive all disappeared. As a matter how many patents noticing it seems. Like in russia those children families wait. Centuries just to make sure that the british at the bottom of the internet that it will. Stop the journalists like you shes a statistic that is shes a c. E. O. Which is quite a shock. Which she does. Not want you. In the states youre going there for sure. Want to go to the shores of yours or mine if youre going to be. Its a mistake so its a quarter of the. Spirit over there is this interview are you going to teach the student actually the person the person has to be vocal or should stop them spitting. Expressed. Welcome back d a new report from the World Gold Council claims that golds latest bull run has come to fess but still has room for growth now according to the deputies see the combination of high uncertainty easy Monetary Policy very low Interest Rates positive price momentum the depreciation of the us dollar and fears of higher inflation fuelled record flows of 734. 00 tonnes into gold backed e. T. F. E. T. F. So in the 1st half of this year now meanwhile the us dollar has started to rebound from a multiyear support level simultaneously the price of both bitcoin and gold have dropped off so joining us now to stress the bus coasting krypto analyst ben swann and c. E. O. Of Euro Pacific Capital peter schiff thank you both for being here now peter i want to start with you what do you make of. W. J. C. Report and where is gold had it. First of all gold had a lot higher i agree with the report and the price of gold going to go up i think the World Gold Council thats actually underestimating just how high the price is going to rise because i think theyre also underestimating how much inflation global Central Banks are going to create in particular the Federal Reserve and how much value the u. S. Dollar is going to lose against other fee currencies but in particular against real money which is goal and i got to quit because i have to ask you this peter you have often been here touting the popularity of gold why you should invest in it is there ever a time where you feel like its not the right investment. Well 1st of all i dont even look at gold bullion as an investment i look at it as a store of value as an alternative to cash so i think its always makes sense to have some cash right i mean especially if you think assets are expensive if you think stocks are overpriced if you think real estate is overpriced and you dont want to buy now you want to buy later how are you going to store that purchasing power i think storing it in gold historically is much better than just relying on a piece of paper even the best currencies have a poor track record relative the gold so if you understand what gold is then you should always have some but right now i think its particularly important given how much money the Central Banks are printing particular the fed i think gold is going to make a much normal a bigger rise against these currencies but as an investment i think that investors should be in gold mining stocks i think Warren Buffett had it right by buying baron gold which i own myself and ive owned for a long time but theres a lot of other gold stocks that i think are particularly Good Investments right now given how much value i think gold is going to gain in the months and years ahead sometimes you have to go to square one i just had to cover that quick bet now. Since the dollar increase from its monthly open on september 1st the price of bitcoin declined from 1280621116 extension 0 now gold has seen a similar response declining by nearly 1. 8 percent in the past 2 days is strengthening dollar going to end bitcoins current surge. And though 1st of all i think that when we especially when were looking at what peter just said about inflation these numbers dont take into account as remember the federal the fed reserve chairman drone pilot just came out a few weeks ago and talked about you know altering and changing the feds stance on inflation and letting it run moderately above 2 percent all of that linz itself into both big coen and gold but just simply are acting in different ways but both as a store of value assets now listen we can disagree about whether which one is better and which one you should go into but heres what i know i know there are a lot of companies right now that are starting to move some of their money over into crypto currency because theyre afraid of what the fed is doing to the dollar so listen this is a long term gain in the for talking about long term gains the fed is not winning a long term game they continue to print money devalue the currency and continue to essentially run the american currency into the ground and i think its fair to say that you both agree that currency is not the way to go i mean as far as holding the store of value there but peter what do you make of what ben just said there. Well i mean 1st of all i agree with him that i dont think it matters what the dollar does ultimately to bitcoin whether the dollar is strengthening or weakening against other currencies i think ultimately bitcoin is going to collapse underneath its own weight i just dont think bitcoin is a viable alternative to gold i dont think its a store of value i agree that there are some people who mistakenly believe that it is and so they may buy it i think ben is overstating how much institutional money is actually moving in to bitcoin i think its a tiny amount and i think that to the extent that institutions pension it is valid and are going to be correctly worried about inflation and a weak dollar they are far more likely to go to gold then to big oil and. So i just would stay out of it i mean you could trade it but i think if youre going to trade you know trade the mining. Sachs i think youve got a lot more upside potential there if youre a gambler and i think theres less Downside Risk now ben cohen did fall on wednesday by 4 percent but it depended on held support zone of 11111200 ish are we going to see an even larger pullback over the next few days when we could see that but i dont think were going to drop well below that 11 1000. 00 mark but just got to go back to what peter saying there look i think there is a lot of disagreement over whether or not truly is a store of value and institutional money but there is so Much Technology being built around block change right now and consequently attaching itself to big crypto currencies i think that you cant ignore the fact that there is an enormous technological value and technological assets being built around the corner right now and its been that way for several years so when people do look at the way that they point fell off at the end of 2017 going into 2018 and say oh look its going to all the way back to 3000 dollars again i dont think that thats going to happen based upon the fact that the technological space around it is very different today than it was a couple years ago peter go ahead yeah. Yeah that well that may all turned out to be mal investment that was a consequence or by product of the bubble and to the extent that that technology has value it doesnt necessarily mean that bitcoin itself has that value i think its just a speculative digital token peter schiff Euro Pacific Capital ben swan boom bust cosen the crypto analyst thank you both for your time. Sure thing. And Facebook Says it will halt new political advertisements in the weeks leading up to the u. S. President ial election on the 3rd of november now the social media giants cofounder and c. E. O. Mark zuckerberg announced the new policy thursday by a statement facebook also says they will work to make sure no candidates prematurely claim victory as Election Results may take days to come in due to the ongoing pandemic and the changes to the Voting System the social media site has been instituting contentious policies to fight misinformation since the 2016 election Facebook Stock is down more than 4 percent on thursday but thats mostly attributed to the overall meltdown in tech for the day that we talked about earlier in the show and that are just. Demand on the brand new portable t. V. App which is available on smartphones a tablet through google play and the Apple App Store by searching portable t. V. Portable to be can also be downloaded a newer model Samsung Smart t. V. s as well as a roku devices or simply check it out a portable t. V. Well see you next time. 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. Away. What is true what is faith. In a world corrupted you need to descend. To join us in the depths. Or remain in the shallows. Throughout its history just how just with the selfproclaimed Islamic States terrorist group have recruited up 230000 following us from all over the world to fight for the. Sounds of russian citizens left their country to join the terrorists often bringing wives and children with them. And above. Post on you you see me as and you could no. More new to the. Hundreds of children and widows were held captive all disappeared. Back in russia those children families wait them search phone. Off. If. You just have to fly between 2 kinds of moon and as fast as you can. Do much arctic ice for chip the producer with push for the. First number the nature. Of the engine still is impersonal still stands creel of course were all russians in racing use competition in the extreme to have a full use the specified routes between the lines with the fastest time just. Really should move to different routes for you to. Trade and investment of become magic spells to come economic development. Most people think about trade they think about goods and services being exchanged between countries at the end of fast chapter a trade agreement is about something very different but what when investment leads to toxic manufacturing that destroys sacred sites all the environment. That means if local communities that are being poisoned if they object if they do anything that the company feels is interrupting their profits they can they sue. The nationals of taking on the whole nation Philip Morris is trying to use i. S. T. s to stop florida by implementing new tobacco regulations aimed at cutting domestic smoking rates a French Company sued egypt because egypt raise its minimum wage democratic choice trump. Joins us as we try to find out want to party. This goes. But its that we have already commenced business and said we have nothing to hide. His journey to share information on the alleged poisoning of. All major calls for an international probe. Ready for phase 3 trials in its work towards a 1st Coronavirus Vaccine thats all told british medical journal concluded the drug names put mcafee to produce an antibody response in all participants so far. And china may significantly carters holdings of u. S. Debts i made rising tensions between washington and beijing