and the c.d.c. has a new set of guidelines for those who are fully vaccinated then the american rescue plan is making its way through congress so how are the markets reacting to the hopes of a $1.00 trillion dollars stimulus package we have a lot to get to so let's get started. with tax season in full swing in the interest in crypto currencies at an all time high the i.r.s. is looking to get its cut with a new program aimed at targeting taxpayers who haven't reported their crypto related income it's called operation hidden treasure and according to the agency's director of the office of fraud enforcement damon rowe it will train i.r.s. agents to look at block chains to root out tax evasion among cryptocurrency users so what does this mean for the future of crypto and how will this crackdown take place i mean out of the jazz's boom bust co-host and investigative journalist ben swan and jeffrey tucker editorial director of the american institute for economic research all right ben i'll start with you here i know you probably have a lot to say about the name of this program in and of itself so what do you know about operation hidden treasure and how will it run. its kind of an interesting name is it operation hidden treasure as if it's something that is. being hidden from the i.r.s. in some cases i guess it is but the problem of course is going to be the fact that suddenly after years of not really caring about crypto the i.r.s. is obsessed with it and they want to make sure that they're getting their share so here's what we know parents the agents are going to be trained to look at block chains they say to root out tax evasion and get this apparently they're going to be working with private contractors and also with vendors to presumably develop signatures what they're calling the signatures or telltale signs they say of fraudulent activity what this really comes down to though is the idea that that for so long the i.r.s. has not they still don't even recognize by the way crypto currency is money they don't believe that it's a currency and yet they have shifted completely their view in terms of going after it aggressively but that's also to be expected when a year ago was around $45000.00 and today it's around $50000.00 yeah it is interesting that if they don't view it as money yet they know that everyone around the country is talking about it and now all of this on their interesting now jeffrey let's talk about this issue of developing signatures what does that mean exactly. well what it is it's about trying to profile people and put identities to public addresses and trace where the money goes so one of the things going to get really confused about with cryptocurrency is that it is true that in many cases some cases rare cases it's anonymous but for the most for the most part cryptocurrency is what's called suit up so you can trace it very easily you just can't attach the trace to an identity so it's this is all about trying to figure out a way to link public addresses to particular individuals then examine their finances to see if there's something fishy going on here but i don't see this is a change in the rule i think it's always been pretty clear to crypto users and when you're when you're converting out of the block chain ecosystem into dollars a valid will have to be reported as income and there's you know you can you can't you can't you know and you shouldn't and because it would be crazy to do that you're going to be paying tax on it so it's not actually all that different if their us has something else in mind which which might be is about trying to find people who are living in that ecosystem exclusively without moving into dollars that could be what this is about but that that that could also be extremely tricky . is exactly what it seems like especially when you're talking about the world of crypto and whether or not the i.r.s. has a lot of familiarity with that now ben as jeffrey mentioned crypto can be very confusing are there people who are facing legal action and they don't know that they've done anything wrong. or that that's possible remember that when we talk about tax evasion tax evasion has to be a willful act which means that you know you're doing something wrong and you're trying to get around the laws that you know that are in place if that is if the i.r.s. is sincere about what they're going after and that's what they're going after then no i don't think there's a lot of. people necessarily that would be in trouble here because if you don't know you don't know the question will be whether or not the i.r.s. and i'm skeptical of this will attempt to make an example out of people because ultimately what they want to do is discourage multiple kinds of crypto currency and they start trying to really focus down on just one or 2 to say you know let's let's make big points to preen because that's what the wall street firms like but everything else is going to be seen as being an attempt to evade us listen i'm skeptical of it because i think many people even working in the i.r.s. and the f.c.c. don't understand crypto themselves so how they're going to enforce laws regarding that is confusing the fact that congress has still never bothered to actually explain what a crypto currency is in terms of the law and how it should be regarded is also part of the problem i think at some point you would expect and hope that washington would catch up with where the rest of the world is in terms of digital currencies and try to operate from that vantage point rather than everything kind of playing from behind yeah that's an excellent point and it is interesting to say people even at the federal reserve we've got janet yellen saying that there are concerns about crypto currency but not really detailing what that is or what that looks like or even a new administration might do about it now jeffrey so what does all of this mean for the growth of the crypto and industry are there concerns that it will close things down. it probably puts more forward into the future of the day which this becomes a legitimate medium of exchange right now it's a it's a fabulous. that's if you can you can look at the data and see that that's for size the as people are treating it they're there by end of that holding out for having fun watch it go up and watch in their do you have much themselves get richer and richer and richer dish is glorious the problem is they are free and that's always been the problem with crypto it's getting to the out of the block chain and then to real usable dollars and that's when people are going to be pain so it just delays that a little bit more but also the deflationary motion that we're seen within because it also encourages people just to save it and save it and save it and grow it and spend it ever less it puts off the day that which we can finally say right this is real this is real money for the masses where we're nowhere near that point and now ben it's interesting because whenever we talk about this operation hidden treasure in creating these signatures and all that we also know that at the same time we've got a long muss we've got mark cuban who are now selling talking about crypto currency is this the same like they're going to target some of those bigger players specifically or should everybody be concerned about the no in this and i think it's the opposite i think if you're mark cuban or iran must don't worry you're not worried about the i.r.s. coming after you you're not worried about those issues because 1st you have illicit plies of money the people who really get hit here are the early adopters and the people who was jeffrey rightly said have tried to live with in a crypto eco system without coming out of it that's the big question here is the i.r.s. talking about anyone who had crypto converted that into a dollar and didn't pay taxes on it or are they talking about people who exchange $1.00 token for another token or people who move tokens out of an exchange into a cold storage wallet is that what they're talking about and if that's who they're talking about it's not the billionaires who are affected by that it's the everyday people who have made cryptocurrency successful who will be targeted by the i.r.s. excellent points to consider here and all certainly means and interesting to see exactly what the i.r.s. does and what they come up with from all of this ben son jeffrey tucker thank you both for your time. for sure. one year after states across the u.s. be enforcing lockdown measures in response to code 19 the nation hit another milestone over the weekend as a record number of americans were vaccinated against the virus that includes 2900000 vaccines administered on saturday followed by 2400000 on sunday at least one in 5 adults in the u.s. have received one dose and one in 10 have received the 2 doses required by madonna and pfizer the c.d.c. also released a new set of guidelines on monday for americans who have been fully vaccinated it states that they can gather with other vaccinated people as well as low risk individuals who have not been vaccinated in homes without masks or social distancing it also knows that they should still wear a mask and socially distance in public and avoid large gatherings c.d.c. officials also warn that those who are vaccinated are not fully immune from spreading the virus and its mutations i think it's also important to remember that people who are vaccinated there's increasing data suggest they might get breakthrough infections was much slower amounts of virus also are more disease last sources do want to see it's a milder disease however we're still waiting for began to emerge about whether they could transmit that virus to other people. meanwhile canada has become the 1st country to authorize for vaccines adding the single shot drug from johnson and johnson to its roster but when it comes to talks of implementing a vaccine passport for residents canadian health officials say they are waiting for reliable scientific evidence before making any decisions alex my live it has the latest. after a very slow start and plenty of criticism against the government your doses of covert $9000.00 vaccines have started rolling out in canada and you know this year i thought that it could done medio and it goes on this week canada received a total of nearly 1000000 doses of code 900 vaccines next week there are another 1000000 doses arriving today i can announce that pfizer has moved up its delivery of 3500000 doses that were scheduled for this summer this means that in march we will receive $1500000.00 additional doses we will also receive $1000000.00 additional doses per month earlier than expected for april and may so far the vaccine role in the united states as well as other countries has vastly outpaced canada by late february the u.s. was vaccinating an average of $1700000.00 people per day while canada has administered less than $2500000.00 doses since starting its vaccination program in december earlier on in the pandemic canada secured the world's largest number of potential covert vaccine doses per capita the country's government was heavily criticized internationally for buying up the supply that could cover its population multiple times over totally over $400000000.00 doses however even with the massive investment the country wasn't positioned for priority delivery johnson and johnson is one of those jobs is the latest to be cleared for use in canada with 10000000 doses expected between now and september but no one is certain when canada will get the 1st shipment count of the struggles to get its population vaccinated much of the government's focus has now moved to the future of covert 19 hoping to reintegrate into the global community once the virus is under control canada's federal health minister patty hi do a signal that the possibility of some form of vaccine passport is very live among g 7 nations this is a fear many conspiracy theories spoke up from the beginning of the pandemic and the idea has. denounced by some ethicists you don't need to go any further than israel to see what the so-called passport could look like. understand what you're saying. is the green passport which means that you don't wait until everybody you can start opening basically everything in your economy and your culture and your you know in your state with. what you're seeing in other words no passport no entry and the only way to get the passport is to get a vaccine or to have already recovered from 19 it is unclear if once implemented vaccine passports will be a temporary measure permanent either way candidate and many other nations are looking into the option which some say is a step in taking away people's freedoms while sparking a rise in inequality. time now for a quick break but when we come back. the markets react. next and as we go to break here. are in a position. our shareholders the taxpayers. in their pocket. the world is. shaped. the day. we dare to ask. some control from middle class. most of our very hard working people who want to get ahead that is either some health issues or have some other strict about the whole time jule moon tollways pay for a place to live and missing just a month's 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 you're going to have a judgment of possession against you and get addicted anyone that's homeless is treated like garbage people look at you like a monster or someone bad or you chose to be there most of the time it's not the case see how it is to be in the world's richest country. the weight could soon be over for the next stimulus package as it heads back to the house for a vote on tuesday labeled the american rescue plan by democrats it has been highly criticized by republicans for its 1.9 trillion dollars price tag while the version passed by the senate over the weekend came with were deuced unemployment benefits stricter guidelines for stimulus checks and without a federal minimum wage increase it was also passed without the support of a single republican and a vote of $50.00 to $49.00 voters senate democrats slow motion. possible majority voters picked a president who promised unity and bipartisanship democrats or sponsors to ram through what they call quote the most progressive domestic legislation in a generation or a razor. majority sure it would be nice if the republicans would join us but they didn't so it was a little bit hypocritical of mitch mcconnell to say oh we did it bipartisan you know when trump was president democrats in the minority didn't block things we worked to get something done now that we're in the majority they don't seem to want to work with us. to go further and up on what the latest emulous package could mean for the markets let's bring in christiane and michelle snyder partner and director of trading research and education for the market gauge group chrystia let's start with you here how are markets reacting now after the senate approved new coded stimulus package. i mean i don't think this was a surprise at all the market definitely anticipated approval so we had a bit of a mixed reactions you have investors policy and into names that are best positioned to benefit from an economic comeback so you have some very strong gains today in financials industrials and materials so now the dow gaining not 600 points to hit an intraday record high however the nasdaq traded point 5 percent lower as investors continue to dump and take profits in tech amid rising rates yes and we also raised earlier gains you trade lower drag out tad and you have sentiment getting a bit of the boost earlier this morning as you have some restrictions easing so you disney shares a pop as california announced a reopening on a limited basis a well american airlines united and other travel and leisure names also got a boost but all in all just in this news was more of a as it was so widely anticipated and for the most are already priced it so the house plans to pass a bill tuesday and get fresh to american starting this month and that will get done before he unemployment provisions expire sunday and as you mention this bill also extends a $300.00 per week boost to unemployment benefits through september 6th and says direct payments of up to $1400.00 to most americans and it also includes an expansion of child tax credits rental payments assistance and funds for cobra $1000.00 nation distribution and testing so with the reopening trade investors are positioning in the themselves to names lever 2 that are coming to the recovery and dumping tech and so the dow which is the most leverage to the reopening that's up 3.8 percent in march while the nasdaq that's off by 2.5 percent and that's a really good point we've all been talking about stimulus here for weeks and weeks now so certainly the markets knew exactly what was coming now michel we had some really choppy trading earlier in the morning as the market struggled for clear direction despite that positive stimulus news does this have to do with the rising rates trajectory and is the current pace of rates going up worrisome. well it's tough to leave the representative of the rates going up that is the most worrisome i think the market has very confused right here because as christy just pointed out you have the keys down a lot because the yields really affect the cost of capital when it comes to the big tech and yet the transportation materials in the energy are all up and to space in the economic recovery sustaining and continuing to grow so the real dilemma right here is what happens with the rates going forward you have the dollar going up along with the rates so now all of a sudden the cost of goods are higher in both levels and on top of that all this talk about inflation is interesting because that's also in pockets or oil which was anticipated to come in higher actually dropped a little bit you had also some of the food commodities which you can go in a very mixed soybeans were up a corn and wheat were down a steel is up but copper was flat so even the inflationary plays right now in big corn which had been the classic inflationary play also although up from last week at the end of the week all being steady so i think this is an interesting rotation one we haven't seen for a long long time where the value play is outpacing the growth we have 12 years of growth outpacing value so this is going to take a while i think for investors to adjust to and see where the money ultimately flows transportation as hot as well and i think that's also another one that's forward thinking that people will start coming back and traveling again not to mention the infrastructure package which also is there a ball circling in the air see what happens with that and there continues to be that hope that we're going to get travel back that we're going to get sort of life as normal back in the coming months and everything seems to be hanging on it now kristie another big topic here is of course china now a chinese import surge as global demand recovers from the chrono virus and exports to the u.s. in january and february were up over 87 percent year over year so it seems like china is the manufacturing powerhouse of the world are ready but why does beijing taking steps to further reinforce its industrial foundations right now. well canada was the 1st to recover from corona virus when much of the world of factories were still shut down so the devil had 1st mover advantage to start supplying things like b.p. and other necessary consumer staples to the world but as things start to get back to normal the demand for masks and other medical supplies should ease up and other competitors will start returning to the global market so that's what's being accounted for in that big spike in exports it was a temporary blip not a long term trend and beijing recognizes that so it's taking steps to further reinforces many actually keep billets and supply chains over the next 5 years and this will include an overhaul of all foundational areas such as basic parts materials and technology and china's manufacturing sector is a large but it's not as strong in terms of the for 2 years of global manufacturing china is among the 3rd ranked country so the ministry of industry and information technology reports that it will take at least 30 years to achieve that goal of becoming a manufacturing powerhouse so according to data from the un china has been the world's biggest manufacturer since 2010 with $4.00 trillion dollars in industrials added value last year so that accounts for nearly 30 percent of global manufacturing output however the 3rd tier ranking with assessed based on indicators that includes quality effectiveness international competitiveness environmental friendliness and ovation so ranked in those categories the u.s. germany and switzerland dominated and research suggested like particularly an r. and d. personnel so china is now planning on bridging that gap between industry and science and technology systems to foster talent and encourage innovation so in doing so it will need to overhaul its entire market economy to allow for fair competition bring down barriers for market access and improve pricing pricing on things like resources lead and energy and we know the u.s. is certainly watching to see exactly what china does and how they recover now michelle 8 in contrast where is the u.s. recovery headed and what is its progress in terms of getting things back to normal . well there's actually something called the back to normal index which i learned about today knowing i was coming on the show and it's 83 percent in the united states which isn't encouraging and also somewhat discouraging in a way because that means we really don't have very much to go to be considered back to normal and that's really i think what we have to keep an eye on all 51 states improved i guess there including puerto rico and i read that interesting really enough new york is the worst off at 73 percent and new mexico where i live 75 2nd worse but in terms of the labor market you have obviously the claims are so high and yet the jobs rate has improved and lots of people who are getting the pandemic unemployment assistance haven't even been counted in that number hiring has improved the worst jobs rate by the way is in nevada which makes sense considering there's las vegas there while the best is in more of the energy in oil rich states like new brass and south dakota and so really what you're looking at now is where the most job losses have been which have been in the leisure that's been down 20.4 percent today so the question is going to be what happens how much of those are hiring right now in domestic air travel which was down a 100 percent and is still down 50 percent you have restaurants $110000.00 businesses have close in that area but what's also interesting is the housing market on fire continuing to be on fire the savings rate is up as people have said more money and consumer credit is way less so people might come out of here just spending lots and lots of money now on getting out getting back to traveling etc so that might be the best growth area in terms of what's left in the market that isn't in there extremely overvalued or suffering as a result of the rates and the back to normal index is something that all me watching for the months to come michelle snyder christi i thank you both so much for your time and insight today. and that's all for now you can catch boom bust on demand by downloading the portable t.v. out for your apple or android device we'll see you here next time and as always don't forget to question more. shows seem wrong. just don't hold. me if you get to shape out. come out to play and in detroit equals betrayal. when so many find themselves worlds apart we choose to look for common ground the. this is crude oil. so they need to actually physically pump it out of the ground you would have well well well well well well. there's a lot of money with your oil and with that comes. a lot of a lot of people from all over the country. if you don't make a $100000.00 a year. as a. pretty sure. you're a newbie and. they were told $60.00 a day it's hard work well work it's not easy work and so they want to relieve their stress of how do they relieve their stress these men that outweigh these men that comfort these men that. people have been murdered up here people can raise their massive drug issues up here you have a boom you have everything else that comes along with money. elderly forward to talking to you all. that technology should work for people. must obey the orders given by human beings except we're such a conflict with the 1st law show your identification we should be very careful about official intelligence and the point is to create trust of the shia. things like take on various shots and with artificial intelligence will some of the . most protected. only existence is. the or tactics that can be used to get innocent people to confess to crimes they didn't commit i don't even think people in the us really get that the police are allowed to lie to the person who falsely confessed actually came to believe the lie that they were told about their own behavior once a false confession is taken the case is closed and nobody really can tell the difference between a good confession and one that isn't. in the headlines on this the 9th of march when r.t. international the e.u. chief shifts the blame to astra zeneca block supply failures with just 10 percent of the orders delivered. so how the kremlin brown's fresh u.s. claims of moscow meddling this time to supposedly discredit american vaccines in favor of russian shots. and switzerland becomes the latest state in europe to ban face coverings such as. it is drawing criticism from muslim communities were naughty international would put the hot issue up for debate. and they feel. free.