Be 50 bits rather than 25. 00 and just before the g. D. P. Figure was released finance minister some of them are on announce that 10 Public Sector banks would be collapse into 4 after the mergers there would be a total of 12 Public Sector banks there were as many as 27 Public Sector banks and 2017 and the sector has been dramatically undermined in recent years by a rising tide of bad loans on loss and confidence in the wake of scandalous collapse of Punjab National bank the revelations of fraud in 2018. Turning to another flood the economy argentinas move to renegotiate 101000000000. 00 in debt was briefly labeled as a selective default by the movies Rating Agency in a statement moodys cited the macro administrations failure to sell bonds to finance approaching Debt Repayment payment deadlines and said quote following the continued inability to play a short term paper with private sector Market Participants. Government unilaterally extended the maturity of all short term paper on august 28th this constitutes default under our criteria moodys took down the alert within hours explaining the change but pointed to what they said were new terms on short term bonds but that did not take place before the new seem to knock the argentine peso down by about 2 percent against the dollar falling to 59. 00 against the dollar. And the trade war continues to rage on as weve reported in the scuffle spread to the auto sector now theres a new moves in the auto sector to report and pulling up to catch us up on all busy this and all things automotive is the cars coach lauren fix so lauren 1st lets get right into the tesla news this week China Ministry of industry and Information Technology said on friday that the cars all 16 models sold in china will now be exempted from a 10 percent sales tax in the ministry did not give a reason for this favorite treat men although the founder either musk has been noticeably praised in china and seems to be very committed to selling and investing in that market so is this enough to offset all of those other troubles or at least keep them afloat for a while. While i think its going to help china you have to remember that he didnt 1st announce that hes going to raise prices on all the models is somewhere around 12000. 00 on each vehicle and he was increasing those amounts at the price point in order to compensate for the 10 percent tariff now that hes got the tariff break and hes exempt from it he has not lowered the prices so theres going to be more profit which is what they need i know hes producing as many vehicles as he can as possible shipping them into china as quickly as possible however electric vehicle sales are just not there the demand for them wasnt what it was and the incentive from the Chinese Government is no longer in place so lets hope that he can sell some of those vehicles and they dont just sit there and lauren following up on we talk about some of the sort of failures to execute with specific plans but looking at. Core Marketing Strategy for the brand they have sold their cars is a kind of luxury purchase and it seems as if even within the would require niche theres also selling perhaps this is cars a statement purchase baby going to a coolness factor on top of the basic you know display of wealth but on that point how do you are as compared to comparable models in the same price range from other luxury car makers and how they made a fundamental mistake by taking their eyes off of the fundamentals here so their cars have a theme song when you roll up the window or some easter egg but in the meantime theyre cooking on fire. Right i mean i think the whole thing with electric vehicles the people that are buying them and those people that can afford them and so that means that youre looking at. It was strictly those people that believed in not just green energy but also the fact that they had enough money and they were getting that 7500. 00 tax credit which is now gone on tesla vehicles and then of course your state credits if you can afford to buy a new car most people cant so its those wealthy people and if you look at the average buyer of a tesla they make about a quarter 1000000 dollars now that youve got other cars in that marketplace the jaguar i pace the audi each try and mercedes has a car youre looking at b. M. W. All the Premium Brands are bringing in plug in the electrics as well as all electric vehicles and they are taking a piece of his market share because its who comes to market 1st choose the 1st one to show up at the country club saying ive got to bring new audi tried it it goes farther than your tesla so its a different marketplace it doesnt hit the masses and it wont meet the masses as long as the prices are high and the time to charge is way too long and the distance between charges needs to be twice what it is now in order for the masses to be interested and. More and bearing down on that for just a moment those competing models that you mentioned do they really compete does tesla really compete directly with them on features per se or is it really just about having a car compared to these other ones i think they do compete in features and look at audi theyve got virtual. Cockpit its probably the best Navigation System ive ever seen jaguar has a beautiful car it doesnt look dated theyve done a wonderful job designing it making it unique but still the one thing that the other brands have that tesla doesnt is a Dealer Network if youve got a problem you go to your favorite jaguar dealer your local audi dealer mercedes b. M. W. They give you a loaner car they take care of the vehicle and call you when its done when it comes to tesla you have to call in wait for them to get the parts there are people waiting for 1012. 00 weeks for a windshield thats unacceptable and it causes consumers to be frustrated that theres no Dealer Network to support them thats an obvious case for concern theres also some want to auto news from africa this week as toyota signed an agreement on thursday to build an Assembly Line and i read coast so this was announced at the Japan Africa Development conference in yokohama and it said to refer reflect a desire to break into an untapped market especially when sales are tapering off in a more established markets so as africa the next niche for growth in the global auto sector. Actually its interesting is africa is the only untapped market for new cars as of today and i think every manufacturer starting to realize that words whether its peugeot or ford or toyota they know that if they dont build in that country its going to be harder to get those vehicles there and they know that as these countries start to turn around you see that with south africa and the growth that theyre getting it is the next untapped market and its a very smart place to be especially if youre building vehicles and the cost of building them is a lot less than in other countries and war in other Foreign Direct Investment news in the auto sector is investing big in the state of so paulo in brazil theyre reportedly infusing 577000000. 00 of capital into their plant in their offsetting the loss of auto jobs from sao paulo to other states in recent years and this move seems to have been facilitated by some new tax credits from the governor of south paulo so where is the sample autumn making such a head and what is the National Outlook for brazilian autos. Theres been a shrinkage in sales pollo and because of that they want to reinvest in that area because of jobs obviously so when volkswagen said were going to come theyre going to build they build trucks they build cars they build diesel vehicles which still sell there and that is a popular vehicle so when you get a popular very Large Corporation like volkswagen theyre going to come in theyre talking about bring in 1000. 00 jobs theyre offsetting that with a 25 percent tax break from the brazilian government so theyre looking to rebuild their Auto Industry theyve got new leadership in their government and theyre hoping that if they give people jobs theyre going to take that money put it back into the economy and purchase new vehicles and volkswagen wants to be the one there theyre offering electric vehicles as well and i think thats something that its very smart move whatever company gets in there 1st is going to be the one thats going to have the biggest success thats in a day lauren fix the car coach thank you so much for being here. Thank you. Markets around the world rose as optimism and hope renewed when china and us showed a willingness to resolve their long running trade dispute has been. Staying lower and the dollar rising ever more higher lets see how the equities markets did over in moscow the roads led by commodities and energy nov attack russias 2nd largest natural gas extractor has been given a 500 and 97000000. 00 tax break to help it build the arctic port as putin is prioritizing tax incentives to encourage companies to develop the arctic region over in asia the shanghai shares finished higher for the week adding about one percent but investors started to book profits ahead of the weekend as they remain very skeptical about any Real Progress being made over the trade dispute beijing and washington appear to adopt a softer tone on trade which sparked a rally on wednesday and thursday but quickly sold out that on friday as traders have heard the same rhetoric before only to have the deal fall apart at the 11th hour over in hong kong shares lagged on friday as news broke of the arrest of a protest leader friday morning as well as the cancellation of saturdays march however it still ended the week up 1. 4 percent for the month of august the. 7. 4 percent amid the protests and riots the worst performing major and next in the world mainland has constantly had to buy support for the market for 31. 00 days in a row now pumping in a total of 8900000000. 00 over in japan the nikkei surged 2. 5 percent for the week on renewed expectations for progress between china and the u. S. It also got a boost as japan and the u. S. Appeared to agree in principle to core elements on a trade deal that they hope to sign in new york next month the final agreement would cool a trade dispute between the 2 allies and open up the japanese markets to u. S. Goods over in india. Hopes of fresh stimulus by the government boosted the centex to finish the week up after a disappointing g. D. P. Print a number of measures were announced to revive Economic Growth and shore up market confidence including rolling back recent tax hikes on masters and an easing of Foreign Direct Investments the megamergers of Public Sector banks spearheaded by India Finance minister would also help to boost the quality and reserves and increase their Risk Appetite to be more competitive on a global scale down in australia the a. S. X. Search high on friday and the up 2. 5 percent in its 2nd consecutive weekly gain sentiments still remain cautious at best as the rally was led mainly by safety assets and the fences and finally the all shares all round south africa close weaker on friday and a positive for the week as local Market Participants are still cautious on the back of disappointing Growth Investors are now increasingly becoming skeptical to take big bets on the stocks as fitch recently revised their Growth Outlook on south africas long term rating it from stable to negative now you know what that is and the rest of the americas thanks kristie starting with the cac in paris we get our very 1st green arrow of a very week after g 7 leaders gather in buras france and set in motion the market moving events of this week the dax in germany also post a green arrow this week as well as a footsie in london all 3 of those showing significant gains on friday orbiting within the range of one percent moving to the americas and starting with the call capping go on be another green arrow begins on monday and wednesday and holding through friday turning to brazil the index of the b 3 logging steady gains throughout the week despite the global bad publicity over president will soon earls version of diplomacy and Environmental Stewardship that led to some fears that brazil could face sanctions including denial of entry into the o. E. C. D. The organization for Economic Cooperation and development meanwhile pressure seems to be building also in the corporate sector for more action backed by heavily implied threat aboard. Brazilian products in the home stretch of north america and why you see the as and p. 500 and nasdaq all up for this week and closing out the month ahead of the Labor Day Holiday week and on monday in the United States all 3 exchanges posting gains at least 2. 5 percent on the week with the nasdaq setting that lowest bar again gaining 2. 8 percent on the week on the dow advancing 3 point one percent at the same time although we are now set to record all the 2nd down month of 2019 and finally the ts in toronto is up for the week and posted again every single day of this week also closed strong on friday after g. D. P. Figures showed 3. 7 percent growth in the 2nd quarter beating expectations from the bank of canada and this has been your weekly global stock market wrap up. Time now for a quick break but hang here because while we are tearing up the currency is exploding in popularity and whether its welcome or market changes are popping up. On the black founders plugs in to take out the future of tag and as we get a break here the number. To get up. Sounds. The obvious or did they kind of lunge for the weapon ones missed and then what happened on 3 swung at the officers hands didnt hit him i never saw any contact between the 2 and the kind went back to where they were so the officers back here there try again 15 feet apart at this point and thats when the officer pulled out his gun and he did it on 3. She stressed to the wall street racer that the british at the boat will. Stop the shore so they can see that the statistic is the cia which. You dont. Know what you. Remember since you took her in there for sure you. Want to go to the source of your might your belief or should be. Its a mistake is the word supporter of the. Spirit over there is this interview are you going to teach history you sure you. Are some of them are sure. To speak. More than a decade after they split all tran Philip Morris international are considering a marriage made in tobacco have been in 2008 altria who makes marlboro brand cigarettes spun out the lot more as international in an attempt to grow their International Business and avoid regulation and lawsuits in the United States if the Drug Companies are able to merge they would be a 200000000000. 00 giant in the industry with their next closest competitor British American tobacco worth roughly only 80000000000. 00 people familiar with the negotiations say that the 2 companies would hope to develop new products in the ever changing smoking landscape if the 2 do strike a deal it was still have to face approval by the companys board shareholders and regulators cigarette sales have been on the decline throughout the world as cigarettes become more prevalent and Health Officials warn of the negative effects of long term smoking Philip Morris has managed to weather the storm through strong sales of i q a was heated tobacco device and now with this merger it also will have access to all trees grow. Segments which includes jewel and cronus. And the federal trade commission has opened an investigation into whether east cigarette manufacturers jewel labs marketed their victim products to minors the investigation is the latest blow to a company that has already faced criticism for their alleged role in the rise in vaporing among us young people on thursday july announced a 100000000 dollar investment in a system meant to stop retail sales of its product to anyone under age according to people familiar with the situation the investigation began prior to the f. T. C. Is entirely trust probably december deal with altria which invested 12800000000. 00 for a 35 percent stake in jewel meanwhile the center for Disease Control and prevention said friday that they had receivers supports 215 possible cases of long illness in the United States due to vaporing the city has c. D. C. Has warned that no one under the age of 18 should use of a ping products adding that they should not be used by those who do not currently use tobacco. Continues to stay steady flirting around the 10000. 00 mark while its market share rose above 70 percent for the 1st time since march of 2017 c. M. E. Futures expired today sparking a volatility as 50 percent of positions are expected to roll over while the price has not moved much we see clear accumulation buys from institutional its now as investors trying to hedge against the macro che turmoil the correlation between decline and physical gold has doubled in the past 3 months and now here to give us the latest managing partner of founders fun so lets start off with finance thing number having me back on the show absolutely we love having you so lets jump into that by now and the number one Trading Platform in the world in terms of volume they are now taking out u. S. Customers due to regulate. And theyre now joining the hub a bit next. And it connects all of the top exchanges who now refuse to do business with us due to unreasonable and outdated regulations and restrictions regarding crypto currency so what are we supposed to do now and where are we supposed to go this is tremendously unfair not to mention that the us now risk falling behind as it fails to embrace and adopt crypto. Absolutely in many countries will likely follow their stance the United States but youre also seeing a divergence many countries such as. Singapore switzerland and even portugal have made positive strides on their trip to regulation most recently portugals Tax Authority and now its no tax on crypto earnings. On falling behind in regards to exchanges youve seen existing exchanges and new and upcoming exchanges such as after taxes Derivatives Exchange or big dotcoms exchange which is launching with negative trading fees choosing to skirt or leave the u. S. Or not enter the u. S. And so this is deafening a problem where Many Companies are not focused on the u. S. Now and it is a big risk for the United States to fall behind and always sticking with finance they are coming out with project venus which is a stable coin project that will be primarily geared toward non western countries its intended to compete with facebooks liberal with a focus on partnering with governments and companies in order to curry favor with regulators what do you make of this initiative and how do you see it playing out in competition with libra. Absolutely theres definitely a lack of details right now or on on finances project venus in terms of the roll up plans and how will really work however finance has done a phenomenal job in the cryptocurrency. Industry on educating the masses and driving accessibility in emerging markets and so we can hope that by now its will continue to do that and theyve said that theyre going to work with regulators and government is to avoid the problems that libra is facing on the side they have dark actually planned a lot of the items that were in their white paper and so this is where a lot of the issues of regulators have come by oh where there has been a clear lack of process in terms of ensuring that they meet the demands of regulators one of the big challenges here though is neither of these projects have really identified how theyre going to solve the access to finance issue related to k y c for 1100000000 on banks and identified our identity individuals and so this is a big problem where these individuals will likely still not be served and theyre likely facing issues of stacked fees in emerging markets as well where Money Service businesses already have long term an exclusive contract sign and so likely in emerging markets theyre going to continue to be underserved and not be able to really bring down the fees with these sorts of solutions thats why theyre designed to roll out in the non western countries for us because they have much looser k y c regulations so now we have a lot of stable points flooding the market now as we just mentioned libra there is also true u. S. D. U. S. D. Quine makers dow haven so despite all of these that are coming out the o. T. Is stable quite a u. S. D. T. Is still the main one being used with over 60 percent of all Exchange Transactions are through u. S. D. T. So this is still the case despite all the scandals that came out last year that they didnt have the reserves that they have a collusion with and so how is it tether able to maintain its dominance last year when everyone was saying that there is dead. Yes so the other has had a very Strong Network throughout the crypto world through all of the exchanges and a lot of the Different Companies across the ecosystem and so given that and their 1st mover advantage theyve been able to hold on to their the and still maintain their dominance but what i think is that this story is yet to be fully written and you know over the course of the next year i think a lot of these problems will continue to unravel and well see whether or not there remains and is able to maintain their dominant position. And now thing them today it was Just Announced as a marriage between switzerland and singapore spanking now has said that they achieve a status as the worlds 1st Digital Asset bank so how are they actually any different from crypto capital which sort of finance or silver gate in san diego which serves. Absolutely and so i mean it is interesting to see how this actually plays out and how theyre able to serve these different organizations and actually bring in mary. Crypto world with the traditional world and be able to increase access to products and even banking for different exchanges or other services and so it will be interesting to see how this continues to roll out in the future and whether or not it actually makes a big dent across the industry. An all time revenue for bitcoin miners has just topped 14000000000. 00 and the net networks hatchery is continuing to grow new all time highs just posted today at 83. 00 looking ahead we have a 2020 having in may will block rewards. Lower block rewards into teen turnout work participants you see than a declining next year. Yeah the having is going to be very interesting and i think if you take. Todays price which is you know just under 10000. 00 if the price were to stay between 10020000 or lower the having of the block award would of course mean that miners would be worse off in the future and their point what you might see is that moving over to other protocols in mining. Areas that are more lucrative but given that even in that case coin is still the most stable for miners in the most consistent and so likely that outflow of power leaving would be very minor however given the recent turmoil across the world with the trade war and the economic instability we could likely see the price of bitcoin doubling between now and the having and so at a price above 20000. 00 miners would actually still be better off even in that scenario and i think thats a very realistic scenario that we can look forward to given all of the instability around the world absolutely we all saw big quine digital call being one of the best head to head is that weve seen across multiple as a cause in the face of the Global Economic backdrop right now. Thank you so much for being here. Thank you. And thats it for this time you could catch boom bust on direct t. V. Channel 321 dish Network Channel 2 or streaming 247 on pluto t. V. For free t. V. Channel 279 are as always you can catch up on youtube dot com r t the next time. I am. Theres. Me here. During the Great Depression which im old enough to remember there was most of my family were working class and it wasnt it was bed you know much worse objective listen today but there was an expectation that things were going to get better. There was a real sense of hopefulness there isnt today todays america was shaped by the turn principles of concentration of wealth and power. Reduced democracy at tax so low down to engineer elections manufacture consent and other principles according to know on. One set of rules for the rich opposite. Thats what happens when you put her into the hands of a narrow sector of will switch will is dedicated to increasing power for chills just as youd expect one of the most influential intellectuals of our time speaks about the modern civilization of america. I. Ready ready ready ready am sure to stop at the door waiting to grow. I just never know very good. Bring children into the world because i didnt feel like things were in very good shape that a life was just going to be a lot of software programs. Theres no reason the more. You take things that are to me the. Motors on the move Something Else that needs to be loved and everybodys scared to talk about it survival is truly dependent on us addressing this issue and if we can even talk about it if we can even have a conversation about it then. Were in trouble ready. The. U. S. President ial hopeful fails to make it through to the next round of democratic debates despite becoming the most searched kind of it on line shes now questioning the d. N. C. Selection process. The frenchman vows to appeal after losing his battle to protect people in this village from harmful pesticides we get reaction from locals. I think the government isnt doing its job theyre the 1st to say that there should be no path to sites but they do nothing we breed these the press sites we did during tests and the amount of the best science we found was alarmingly high. And a group of military experts is pushing the pentagon to come clean over the number of u. S. Overseas bases they claim the current figure