Actual and of the dollar when the fed cut on sunday night just as it had by the way in march of 2008 during the financial crisis in the beginning when bear stearns collapse here we saw emergency rate cuts of 100 basis points down to 0 it took them down Interest Rates down to 0 percent essentially and the markets tumbled the dollar is something weve been talking about for many years and its the only store of value at the moment everything is collapsing against the dollar so how long will that last probably not a long time because. As weve seen during brain woods or through the plaza accord of the 1980 s. Theres going to have to be a global coordinated sit down to rearrange the global 4 x. Market we arrange the global currency grid and the dollar is not the thing were going to have to match against because that runaway value on the dollar is whats causing this deflation and thats whats causing this global. Part 2 so theyre going to have to rejigger the global currency grid and as all wit
Of the 1980 s. Theres going to have to be a global coordinated sit down to rearrange the global 4 x. Market we arrange the global currency grit and the dollar is not the thing were going to have to match it against because that runaway value in the dollar is whats causing this deflation and thats whats causing this global depression part 2 so theyre going to have to rejigger the global currency grid and as all with they always come back to gold theyre going to do a whole recalibration of the global currency markets against the against gold so thats the only way out of this gold has sold off magnificent leads hugely so its bitcoin because down 45 percent by one day last week so there will be turmoil it doesnt move smoothly look at the lady 810000 945. 00 that was a what you could call a very tumultuous period but in terms of the dollar yes it is stronger right now it is going up in many. And sees this is something that weve been tracking for over a decade here and one thing people need
Continues now today was day one of the shelterinplace order in 6 counties in the bay area and late today, Sonoma County announced that its order will kick in starting at midnight tonight. This has nearly all bay area counties are reporting new cases of the virus in total there are nearly 300 bay area confirmed cases today Santa Clara County reported a new coronavirus related death now bringing the total there to 5 deaths at the Nations Capital President Trump is proposing new aid for the American People one plan is to send checks to americans during this pandemic that proposal is called the payroll tax holiday. No amount has yet been disclosed snow or has a timetable for when the plan. My began and the Federal Reserve launched a program today to help boost to the economy in the face of the epidemic. The of the pandemic it is a 2008 era program which and phrases a critical borrowing market, the commercial paper market as its called it gives american businesses access to shortterm credit
Here on. Max kaiser this is the kaiser report to globalization big dollars ation you know its happening as the world is kind of drifting apart in a lot of different ways we look into it because theres an Economic Force behind it as always stays Max Santa Claus is coming soon so you know what that means its a season of make believe that some fat guy is going to fly around the world on a with a reindeer is them put some presents down our chimneys and make believe is becoming very real i notice around the world. We have now in the past week or 2 you know down tampa said that argentina and brazil where were going next week that they have their currency manipulator and so he slapped some tariffs on their steel and aluminum or as the brits like to pretend its pronounced al many m. Theyve some tariffs on that at a minimum that not english they cant talk good right so this tit for tat tariffs and it claims that theres a currency problem you know that their currency that theyre driving their cu
Security firm proofpoint. And 2019 ushered in some of the biggest tech ipos ever, as pinterest, peloton, uber, and lyft all went public. Wework, however, stumbled to debut. We will have a recap of it all. First, to our top story. Tesla shares set a new record high and reached that infamous 420 mark. You will remember 420 was the price ceo elon musk claimed tesla would go private at last year. Earlier today, musk tweeted, woah, the stock price is so high. Lol. Joining us to discuss is our Bloomberg News reporter, ed ludlow. Another day, another record high. What is driving it for tesla this time around . Reporter the momentum is all about china, taylor. Overnight, tesla secured 1. 4 billion in financing from local banks and much welcomed cash injection. That built momentum from last week, where in november, new vehicle registrations for tesla in china hit a five month high. Youll remember those vehicles are subject to a 25 import duty. The logic follows that if tesla get the plant can s