Fight against in place and promising to end years of financial turmoils and pop way has launched a new currency backed by gold. When it help stabilize the economy and hits by cost the boy costs in the middle east of the war on garza mcdonalds is now buying side of it, says riley restaurants. The oil prices are at the highest level in some Central Banks of keeping a close eye on the markets for the 1st time since october. Brent crude, thats the international benchmark. Talk 90. 00 a barrel last week that prestons the rise in gasoline prices in the us and elsewhere, were igniting fis over inflation. The increase in prices as being driven in punched by jew political tensions in the middle east. Supply sharks off to several output costs by opec, and this allies are also pushing up prices as well. The grids of Major Oil Producers started slashing production in late 2022. Saudi arabia is leading the latest round of cost bosses not alone. Russia to wait on the United Arab Emirates of also agreed to lower the output from april to june. The goal to level Global Supply and increase demand. Oil prices average around 80. 00 a barrel in 2023. The i m f says saudi arabian, these prices to be above that figure to balance is punch. It was a significant spitefully, no type of 7th attacks, but eventually price is leveled off again despite the ongoing costs. Now oil prices hitting the highest levels in months as around 90. 00 a barrel. Now some on list expect Oil Prices Decline even further at around a 100. 00 by september. When oil prices go up, so to just the cost of other commodities and that contains a problem both for us present, joe biden as a families struggling to make ends meet. Well, lets get stuck into this with mill atkinson in london, hes an independent energy. Im less than the full ahead of the oil industry and Market Division of the International Energy agency going to be speaking to you. Now. First of all, we do need to mention that the time of recording this program, theres a lot of speculation that there will be an imminent yvonne attack on israel. So how is that family effecting oil prices . The more yes, there is a great deal to do, but it goes speculation. Theres no question of that. Of, of my personal view of this based on windows based on following me least to politics and extra fact, an oil for many years. This is very unlikely that iran is going to carry out any kind of operation which is so enormous is that it would be considered as an actual iran attempts to play a long game. And well, theres no doubt that so tensions ruptured is not following these really attacking syria. So far. At least we have not actually seen any material reductions in file supply since the october 7th attacks. And since the most recent, right, you know, for tensions but between the us new route. But how broadly due to physical tensions play into the oil prices because its not just in the middle east, thats a bed. So how many of those to go in the will in ukraine . Yes, of course. And initially following the russian invasion of ukraine, we saw a very, very law spiking oil prices, which have a Material Impact on global economies in 2022. For the negatively things shuffled out of the true picture starts to be much unable those sanctions have been imposed against russia. And we now have the g 7. 00 price cap, the actual flows of or for russia, of not mid of not define massively. Its not, theres not really a decline very much a tool. They just moved from one market to another. So jim politics is always a factor. The october, the 7th attacks usead lead to a short time spike. Were seeing some tension now we just put in the route of the us. So the tension is always that, but it is very, very difficult to 1. 00 to 5. 00. How much that means in terms of dollars a barrel on the price. So then of course that brings us to the on the key factor, which is supply. And we see solved the driving production costs to keep the prices high. All the other opec countries following suit. So here, right here is leading the cops as you quite rightly suggest a country such as the 90. 00 that works, ill actually fulfilling all of the brain with that. So they subscribe to bottom broadly speaking, the opec plus a live study side, you rate the, the opec mounted is plus russia. Oh, broadly speaking, keeping the nuts, oil off the market which taken into consideration along with the other factors in the market such as demand a supply from other countries means that theres a perception that boil market is tightening. And thats one of the reasons why were seeing price is higher than weve been used to. And we thought this of you have a meeting in june of ministers from opec plus how much leverage to other countries like the us and canada have of these production costs. Probably countries im supposed to have an average cost, but so what were expecting in the costs of the point to be quite useful is the production of produced by companies in the United States and will continue to grow. The plan of production from canada will continue to grow as little production from brazil and also from guy on it. And its expected of my contract to for 2024. I would think that the impact countries will not be pushing more back into the market. Initially. Theyll want to see how, how strong the prices remain and for how long before they take any, any decisions. So increase price is a palm power result of high oil prices. This is how its directly affected in one way to the consumer. This of course spells trouble doesnt. Thats in an election yet for the us present. Joe biden. Yes, and we already have to go back to use to 2022, where we have a very similar situation where the market type in dog popular costs due to the destruction following the russian invasion of ukraine. Of course, during 2022, the United States participated with other countries and a very significant drone down a strategic model stocks possibly intended to protect us consumers of the pump in the run up to the midst of questions. And you can argue that the steps United States talk did have an impact, but an hour in the president ial election year. And its pretty obvious that the price is named remained a relatively high, and it was possibly even go because the us president will come hungry, nor was domestic political pressure to do something about that. And that could mean another reduction in the United States to, to petroleum reserves. It could mean diplomatic pressure outside the arranger, and obviously increase that production. So its a very tricky, political position for vitamins to be in. And, but we have been here before, i just lost a deal briefly if you kind of how the oil price wise is likely to complicate efforts by Central Banks to cut Interest Rates. Well, in your introduction, you refer to the fact that uh, Higher Oil Prices do feed into and conceal the price of just the oil is such an important component of Many Industries and by the industrial active it is. So, you know, we have a situation where the fact of the, how the Central Banks will be looking very closely and commodity prices. And, uh, you know, were seeing in the United States that theres a very hot jump market. Were seeing a lot of job creation. And i would think that the elevated on morally right the door prizes are going to get into effect in particular cost assumptions. And they may well postpone any our Interest Rate reductions that they might have been planning. Okay, now atkinson in london, thanks so much for joining us here on counting the cost. A. Thank you. Now, gold has been on a roll and the past 2 months, hitching a series of records. The precious mouthful, reese mold in 2300. 00 per ounce. Last week, rising by mold and 12 percent this year. Now the increase in price is driven mainly by chinas gold buying spree. Central banks mostly in emerging markets, are also buying up dodge amounts of gold in 2008, some bob way printed the now infamous 100. 00 trillion dollar bank note inflation was at 500000000000 percent back then. This is in bob way dollar and lost nearly 80 percent of its value. In response to central bank has introduced a new currency called some public gold or zinc backs by gold. Its aimed at stabilizing the economy and bringing down prices. But will it what . Hi, latasha reports from her. All right. The streets in the say, some customers are no longer accepting these installation. Its that theyre waiting for the bobbies new car and see the notes to hit the streets at the end of april. That means people are stuck with cash that will soon become useless. I know this is the last wish day to. This is money to get to know what did a good, but not wish of it towards the woods. The Country Central Bank governor says the music notes will be best buy gold reserves and foreign currencies does equal to places and bobby, and dollar that has lost 3 quarters of its value so far to see a public reaction, the boss and you current is mixed. But some of the bobbys optimistic, i think its a good news. Which government has done to kept the inflation rate . I think its going to be for the better, but we havent seen its in take collision yet. The bobbins have a history of mistrust with a central bank. Many people and businesses preferred to use funds harnesses for transactions. For example, fuel is sold in us dollars. The easiest way of trying to build confidence, brooke, and quite a few did, is from governments to make sure thats good to cost services. And the goods which ive had up in the market should be paid in a sick and that way and no one will reject it because it is what they say that they have a value weight is going to be accepted. The government says over printing will not be allowed to happen again, but people have heard that before the above, as currency has changed several times over the years. Here are some of the original notes from 1980 when the country gained independence from britain and over the years because of the can on big instability anti inflation. The notes have changed in design and in value. These are the ones people are using now, and these nose will eventually be replaced by the signal when they come in to circulation. Inflation for teams and bobby, and hope to use the car and see what stabilizers or they can do is wait and see if it works well. Several countries have launch new currencies in recent years. Venezuela introduced new boulevard notes back in 2021. At the height of a dia, financial crisis, they featured 6 fuel zeroes, intended to ease cash transactions and bookkeeping. The following year nigeria lawrence new narrow bills to help manage inflation and limit Money Laundering impacts. Don is looking through the same, it tends to gradually introduce bank notes to enhance security and prevent counterfeits to well joining us now for a little while and then pop way is prospect chism bar. Hes a development economist, Im Senior Research for the labor and Economic DevelopmentResearch Institute for them. Bob blake, good to have you with us. The think it was introduced the days ago. It wasnt that it all seem to have had quite a cale takes thoughts with many of having not to be ready for the switch. What are your feelings about this new current say . Well i think i may, its a, its, its a new start. Its a, from a new got been a and to we all course, thats the optimistic that said it quote, probably as solve the problems of Sustainable Growth. In my mind, this up line was that z is going to be linked to the reserves of the quote in United States throughout the country. Its so its not going to implies is that an increase in is the minus apply . Yes, to be supported by an increase in the supply of the board reserves or United States dollars. And the central bank is also a schwab, the nation. Thats a from now on there would be no more pass. This is called activities. So this, uh, a activity is that the central bank is been doing in the past, but thats not true. It is no central banking effective. It is. So we are hoping that if theyre able to show up the top in terms of cutting it big on that and also even on the it, does it say or by the facility to the government. I think that to deal so contributes to stability. Okay. In terms of what going on a vis a simple boy, 6 attempts to have a functional local currency. Why does it keep collapsing . What is it the house of the problem . The problem is been the crony kind pollution. So as in bob good is being affected by a 20 kind pollution and for the grid up parts of the last it to a decade. Us in the coney kind position is been as that is out of it. My level of discipline in terms of our all we manage all month, the system is or there has been unSustainable Growth in the money supply, which is closed, excess demand in the economy day by pushing up the price as a basic goods and services. This situation is what makes a lot that recall so much money choosing tool fuel goods. So i think thats been the cox of the meta and a lot in our ability to control a um, Sustainable Growth in mind. Stoplight, and also to keep public spending with then that billable resources are the trouble is, isnt my names and bob wins. Dont trust the central bank to have a cannot make discipline that trusts that its not going to print, accessed money again. So it seems that most people, reggie, its sticking to the us dollar. The challenge i think is a city of trust and confidence deficits. Not just in the local currency, but also in the key economic institutions. In particular, the central bank, the following is a 5 and for that and fix a we have suffered from 3 bottles or episodes of 5 and pollution in the pot. So im guessing that is pick the day the confidence. So if youre going to be agents in the central bank and also in federal cutting seats, so, so why so this current st. Be any different . And i think, you know, the fact that say we are linking money to supply which is and weve just been a major problem and we are leaking that money stoplight. So the reason that we have plenty, if thats good to help, to really meet a microsoft like brooke and, oh, saving to limits. And how much is ill tell you, provide it to the central bank through the old i dropped a subsidy. So once were able to deal with that problem of Sustainable Growth in minus up like doc should ill so provides some type, its population in terms of the exchange rate, which has the kids either or the or the, or the i listen. A lot of people will be watching. Im waiting to say if that happens, prospectors and borrow money. Thanks indeed for joining us. Now, the un says 2 johns civil war has closed. The Worlds Largest displacement crisis since fighting broke out between the army and the time of 2 Rapids Support forces. Nearly a year ago, millions of people have been forced from their homes. Most of them shows of food and hundreds of thousands have fled to neighboring countries. Malcolm lab reports from a transit comp himself to johns bought a town of rank every morning, selma adam sends her granddaughter to maya to try and sell some of the few remaining items of clothing. Wrote many buyers in this transit camp in south see don golden hall familia. And people have arrived here in the last year. Things to done civil war. Most everyone struggling to get by sale means to minus somebody will eat today. They said fighting and see times capital cost 2 months ago. Some of his father died soon after arriving here and left selma to look off to have grandchildren the money to use it. And i got a phone kind of to give to one of the con i after we arrived here, we took my son to the hospital. Hed been in for months without any treatment. And he became lost on the johnny of to 5 days in the hospital. He died, i was told to come here and register 6 months ago. There was no market here. Many of the trade is themselves have to flee the fighting, and they set up stands to sell food to the growing population of displaced people. But everything here is from seed on the onions a grown, the lentils rise old, transported here, and because of the war, the price is just keep going up. The south to down is economy, depends on, you know, the neighbor exposing its will. Im importing manufactured products here in the town of rank. Dont keep costs spring goods from the pull to all the possessions of those on the run, such as estimate c times economies contract it by about half since the world. Again, thats a problem for those countries. These going to be a continuation of desperation on destitution in votes. So don, us, what i thing so, so that we made rece relapsing back into steve on wayne. So to them, i said these are the top of everybody economy which has consequences on the ability of the government to run a fast, but also in the ability of society to boise. Many of the displaced people arriving here originate from south suite on the said civil war here. Yes. Before went to cost team seeking jobs. Some come from ponces south seat on that still have um, conflicts of areas of stuff with consecutive years of flooding, collecting fund. I would, the sat is one of the few ways people can afford sued in the comp everyone. His fled one country thats no longer safe on the right then another where its increasing the call to survive the war ongoing. So has caused more than 18000000000. 00 in damages to critical infrastructure. The scale of devastation across the strip is unprecedented. Report by the world bank of the United Nations says most of the destruction has been to housing units, Health Centers and education facilities. Its one of the most detailed financial assessments. Yes. The report shows the damage equals move ins. 97 percent of economic output from the field supplied west bank and gaza in 2022. The widespread destruction is also complicating 8 delivery, with more than 90 percent of main roads hits and communication significantly limited. I can see him is a protesting against the wall on garza, with the wallets. Several western brands are paying the price of boycott. Sorry for that to save support to israel amongst them mcdonalds, which has been criticized but offering free meals to israeli soldiers. Thats his box boy caught in the middle east, malaysia, indonesia and from some adult is buying back. Its this year old is really fun size pulling us some in global sales on mcdonald says is reached entail with franchise a alone yell to baton 225. 00 restaurants. But the Financial Times have not being disclosed all the west and brands, including starbucks. Ive also seen boy quote campaigns. The chain of coffee shop says lang of thousands of employees, a place that has prompted across them. At least the push is part of a larger boy, investment and sanctions, or b b s, campaign that targets as well. Funds the brands since 2005 to what to any us now from ramallah in the occupied westbank is somebody ill book me. Shes an assistant professor in economics, a busy university and a campaign, a for the pdf movement. Great to have you with us. Im in the boy coats, really impact mcdonalds that much. And will this move to bias is riley prompts his make any difference and reports from mcdonalds. The know what to that to basically an essay is targets have not been met to they had been the projection of the 5. 5 series targets for the 4th quarter, 2023. And they only managed to get to old point 7, a goal today. So and yes, a, the blankets have been an effective and so it seems at the, the sales and that the news all mcdonalds that have been hit this one, the stock price. And the fact that to Independence Company with those has moved to a buyback the fence josie in, in italy pretty cents. And in move to try and save the brand a twin and have an inbox in terms of the stopping. The boy bought the, if mcdonalds, actually, it goes all the way through and with the strong and the is a, the market. So, and we do not expect the blankets to stop by the fact that in the parent company, mcdonalds, just bullets back there in the franchisee in the industry. Okay. A pdf, the movement that youll come panting with. Its been around for a number of years. How have you seen it growing since, as well as long casa, is, has gone the, substantially, there has been, a lot of the boy called, so either is there any companies or companies that are involved in the supporting subclass of the colonialism. So the campaign has a and has been marketing fine because its american is in woodbine individuals, the Civil Society organizations and companies and so on can actually contribute to in the process of and being colonialism. And the genocide all gaza has basically exposed desire and space. The rest of the world and the bed for the poles of the wall, then it companies, the economic markets have been they seem to this ethic than this. And so we have been seeing get a growth in terms of investments from companies in terms of culture, to avoid costs in terms of the economic sports. Boy, how concerned all you though with companies being on family targets head . Because mcdonnell says, but its this made by, was it cause of this Information Campaign that its taking sides in this conflict . Hows its taking sides . Its franchise and is that it has big inside . Yes, it has. Its been supporting and soldiers that, that have been committing genocide. So this is a blog, is a very blog is situation of taking sides. And of course i am. Those has called that switch this with its, its franchises around the world and therefore it is responsible for and in a way, making sure that its name is not implicated or a complicit in the process of supporting the crimes. And this is why i think about the dogs has made this move all at purchasing back. Its the franchise the in, in is uh, yeah, i do not think its enough. And i dont think the boy ups will stop just because the management of the franchise decides the franchise of change. I cant remember the kind of like the jump canada of somebody i because playing the boy taught does have an impact on brands. Boosting mcdonalds, reacting to it already, but it also has an impact on thousands of workers who lose that job. So how do you reconcile that . And this is always a question thats been targeted. The boy thoughts in the south african case in the indian case in all cases with colonial isnt, was this the apartheid was, is this the 2 boy gloves . And we do really, i mean this is what his city pro is, but you also think its relevant to all the times and no cuz wouldnt be able to actually make up for these and phone and mark to National Companies locally. So, and in all cases, these jobs last will be actually met by local companies to be springing up and, and providing these jobs. Now this is veronica nomics perspective, but strongly political ethical perspective. And i think in the fight against the colonial is in subject put on you to them a part time racism has a cost. And this cost is, is ethical in the sense that we cannot really accept forms of oppression because we dont want to lose our jobs for us is by this thing is, and this was also the case in south africa and we have, it always said, you know, board quotes of it will just come up with these thats model calm palestinian workers a im not an issue for palestinian somebody at all, but my great to speak to thanks very much for joining us. That from ramallah. Thank you. And this is all show for this week to get in touch with us on x, fully known as twice a day. Use the hash tag h h c t c. When you do on top of an e mail counseling, the costs at all, just the dot net is addressed. And thats more if you online at out 0 dot com slash c t c. Thatll take you straight to our page by the individual reports links and, and try episodes for you to catch up. Thats it for the submission of counting the cost. Im an or a kyle and from the whole team. Thanks for joining us. News analysis era is next. One of the biggest elections of 2020 pools in the general election will administer now render movies be taking increase its food across the country. How will Economic Uncertainty and youve some employment sway focused in key states . And will the media be able to cover the vote, reading unfairly, ongoing coverage, but in the, as an actions on out, is there a, a unique perspective . Everything is political, you must be out of college, and everything is a feminist issue. To on heard, voices, we see our literacy destroying the ability to have a normal life in god. And that the stories that really feel us having a normal life. Elizabeth connects with our community and tap into conversations you werent find elsewhere. There is no over there, and its called us, its right here. And right now, the stream announces era to, but in natures biological rhythms, the percentage ultimate but this is not to, its countless kilowatts of all its official light. Allowing industrialized agriculture defies seasonal and geographic constrains witness shed slice on the impact of emergent cultivation on the Natural World to which we even know sleepless bags. On tuesday era, why have american evangelicals become his real strongest backer is us president. Youll find the right to stand with this really with no red line. As long as us support continues, is there anything that can stop is real . Solve on concept from going on in. Definitely a quizzical look at us. The bottom line, the on covering the dead in gaza. Another mass grave is found on the grounds of all ship a hospital and recently occupied by his very solutions. The no, im elizabeth put on them and this is elena 0. Live from joy, how its coming up. As well as the military chief says, yvonnes attack will be met with the response. But the us says it wants to avoid escalation idea of conflict in saddam with