A lot going on here but what is the significance of those big wins for the pan democrats in hong kong you know economically and otherwise this is actually quite significant because as the markets look at this was a reading of barometric reading on the overall sentiment in hong kong and how how the people really felt because Mainland China was actually quite surprised by this turn out they were actually completely surprised and blindsided because they thought that the opposition would not be as strong as they all are and react as strongly as they did because as you said this was a record turnout over 70 percent of the voters actually turned out and not to mention this is for some of the least powerful positions on the council there pretty much response for anything relating to like garbage pickup to street cleaning to Like Community labor so these are not the primary elections so its surprising that so many people turned out to vote for elections that werent at the sentiment stage and you know what do you make of President Trump and u. S. Officials right now really placing a campus. This on hong kong when it comes to these trade talks well when i come to try to talk ha ha is really a pawn right now kind of like wow way its used as leverage for the United States because lets not even mention the fact that there have been there have been accusations of foreign interference with in hong kong creating chaos but right now there is a hong kong bill on the table and china is make pulling out all the stops to make sure that that does not pass into law because if it does pass into law then hong kong would be reevaluated be evaluated on an annual basis to see if they will still maintain special trading privileges with the United States and those privileges mean everything in terms of economically for both hong kong and china so what i want to do now kristie because you have gave us excellent insight there but i want to go ahead and bring in peter schiff of your Pacific Capital to weigh in on all of this peter thank you so much for being with us but lets start off simply here why do you think hong kong in your opinion has become an emphasis in these trade talks. Well its only because maybe the u. S. Believes that it has some way to leverage whats happening in hong kong to its advantage and maybe to to for some type of a deal but you know what really bothers me about the United States criticizing china and hong kong if you look at the index of Economic Freedom that the Heritage Foundation puts out every year hog kong ranks number one today its a free us economy in the world the United States ranks 12th on that list so you know im all more concerned about the freedom of our own people so rather than worrying about the frieze people in the world how about if our leaders try to find a way to make americans more free. Thats a very excellent point and being afraid that talk about fairness comes said in an interview tuesday he quote we cant make a deal like this even we have to make a deal where we do much better so does that sound like hes even trying to make a deal with that type of mentality like how can he expect to ham out of phase one when hes blatantly saying that he doesnt want a fair deal. Well you know every side hopes to get an advantage and thats the whole art of the deal and you go you see him but i dont think that trump is trying to make a deal i mean trump just wants the stock market to go up and as long as the stock market has gone up he couldnt care less about a deal with china maybe if the stock market really started to tank then he might feel some type of pressure to actually deliver a deal but as long as he can make the market go up by talking about the prospects of a deal then thats all trump wants and now its actually interesting because as you just mentioned you know the markets have been reacting theyre hitting an all time high again today and going into your head we generally have the santa rally and a seasonally strong time of year for equities but will another escalation cause the market to crash how should traders position for this when there is so much uncertainty in the near term i mean it seems like this should be causing markets to go down but incredibly every time he says something positive traded negotiation markets go to record highs. Well look there are a lot of things that should be causing the market to go down but theres really only one thing causing it to go up and thats the fed and so the markets are rising just remember for a while people were worried about rate hikes nobody is worried about rate hikes the fed has taken all rate hikes off the table the fed has made it clear that the only direction that rates can go is down theyre either going to stay the same or theyre going to go down and q. E. 4 is now on autopilot you know in perpetuity so thats what the markets want they know that theyre never going to have another rate hike and theyre going to have money printing as far as the eye. See and so thats whats driving stocks and i guess thats going to continue to drive stocks in till something causes that to change and somebody is going to happen because the us is headed for a worse Economic Disaster than the one we had in 2008 and theres no way this is good for stocks and we really shouldnt even be here at all time highs i now when everything are nice season this yeah we had continuous a vision down there are present on average equities across the board averaging 2. 3 percent downward and now were going to for kill and with past on board with Consumer Spending expected to be much much slower and much more constricted this year how would stocks react especially in for Retail Consumer sentiment everything when consumers have been the backbone and been supporting the market this entire ride. Of 1st of all i mean bad earnings are not the only negative that the markets are ignoring and in fact in a way the bad news is good news again because it keeps the fed in play even though theyve basically. Assured the markets that theyre not going to do anything to hurt the markets but as far as the consumer is concerned look you know people keep talking about how the consumer has never been in better shape when the opposite is true the consumer is completely levered up hes got record amounts of debt and the only reason he can spend is because the fed is keeping rates low enough so that credit continues to flow despite the lack of legitimate savings to finance it so this whole alison cards is going to come tumbling down the consumer is going to be right in the center of that and peter i do want to ask because you know as we just mentioned you know the year ended where and the say its a season if you will i mean retail earnings have been kind of up and down depending on what youre looking at Department Stores down target and best buy kind of moving up but what are we going to see here as we head into the key Holiday Shopping season yet what were talking about is a lot of concern in the economy i mean are we still going to see people spend that money come this week. Well as long as they can borrow it theyll spend it the question is can they pay it back look i think the holiday sales are going to be disappointing again and certainly the brick and Mortar Companies the vast majority of them kids to new to struggle i mean look whats going on with the vacancy rates in and leases and you know that and the earnings of most of those companies so a lot of americans are doing what they can to squeeze every penny out of the dollars theyre borrowing and so theyre shopping online and looking for the best deal and i guess thats going to continue but remember a lot of the stuff that were buying are probably almost all the stuff that were buying is imported were not making it its made in other countries so were buying it on the National Credit card as well as an individual credit card so whatever we spend just means larger trade deficits and that means the u. S. Economy is in an even more precarious position following Holiday Shopping than before and now finally lets talk about gold poland has just repatriated 100 tons of gold from the bank of england and poland not the only one doing that right now the Central Banks around the world have been on a gold buying pushing it to 3 year highs so why are Central Banks now stockpiling hoarding gold should that be an Market Indicator that potentially there is a downturn. Well i think if youre smart you recognize what thats indicative of but i think the central bankers are in a position to know that a monetary crisis is evidence that doesnt mean its going to start tomorrow of course it could but whether it starts next month next year sometime in the next several years they need to have bolt i mean gold ownership is going to be key to preserving confidence in your currency and you have to back your currency buy Something Real not by somebody elses paper and so thats gold i think what poland is doing is it is a trend that were seeing where its not just that you want to own gold is that you want to own possession of your own gold you dont want to trust a 3rd party with your gold absolutely well peter schiff. Advocate for the gold industry. Euro Pacific Capital thank you so much for your time of an advocate for sound money. They countdown to black friday is on when you tell us around the country have already started marking down items as the holidays quickly approach but will the market get a boost our teens today chavez explains. Thanksgiving time and just like many investors are shifting their focus to Holiday Shopping and while many are taking a break during this Holiday Season its a very important time for markets as they enter into the last leg of the year. Shopping season is kicking off and u. S. Retailers are dreaming of a green christmas always spend around 10000. 00 is a lot of money i have a lot of a lot of people in my family the National RetailAssociation Says 165000000 shoppers are expected to buy over the Holiday Weekend and overall holiday sales are expected to be higher than initially expected i was finding sales so i went ahead and played all heres a pretty black friday sale and got on top of that the shopping weekend will wrap up on cyber monday when 68700000 people are expected to take advantage of all those online bargains and. Black friday shoppers but as i remember they shop and analysts predict a 4 to 5 percent jump from last year bringing the total between 727900000000 dollars and 730. 7 1000000000. 00 quite a change from last year i think that the retailers are pushing hard with their markdowns and their promise and theyre sending emails daily so its keeping the consumer aware of like ok you know start shopping now in 2018 the economy only rose about 2 percent when shoppers were discouraged battling a Government Shutdown and market volatility and with the uncertainty of tariff still looming prices on laptops and phones could go up. As President Trump prepares to slap more tariffs on chinese imports on december 15th if a deal is not reached according to web bush securities an initial 10 percent tariff on china would mean a 4 percent hit to apples per share earnings meantime in recent years black friday has become more and more prevalent globally currently in the world 195. 00 countries an estimated 50 to 60 percent celebrate black friday several countries in europe starting to adopt black friday along with central and south american countries as well as china and Southeast Asia so the more you spend the more the higher discount is so i think that gives a lot of people a sense of civic stock up on things that they typically you know want to buy and replenish things they love now since thanksgiving fell a little bit late on the calendar this year experts are suggesting to start shopping early and to know what youre shopping for so stick to a list and dont wait for deeper discounts because you may be disappointed with those last minute deals reporting from the capital in new york trinity each of us are to. 11 of the largest drug makers including pfizer and novartis has set aside a combined 2000000000. 00 to invest in gene therapy manufacturing in order to better control the cost of production of the worlds most expensive medicines gene therapies aim to correct certain diseases by editing or replacing specific genes in a patients cell with healthy copies this has the potential to cure devastating illnesses such as rare muscular disorder or sickle cell anaemia with a single dose these treatments are extremely complex to produce at is a malls the cultivation of life material with significant side effects it handled improperly drug makers are now building their own manufacturing plants in response to rising costs and delays as a result of rely on 3rd Party Contract manufacturers and increasing demand for these new therapies this will also help to safeguard proprietary production methods and more efficiently control. The cost of production schedules however there is a huge risk as this is a big apple out lie in order to bring in manufacturing inhouse as many of these treatments have not yet been approved by the f. D. A. And are still in testing phases despite the risk these Drug Companies are confident that gene therapy will continue to grow due to the strength of demand and they are placing hefty bets on the sector with pfizer allocating 600000000 and know of artists 500000000. Quick break behave here because just on the other side amid a change of leadership the e. C. B. Is also looking to new bern tears as the base of Global Finance continues to change really for which the British AmericanBusiness Association led to the hand to break down the Central Banks move towards fin tech and as we go to break here are the numbers at the close. This is a story about what happens ostracize trade bullets kills a young girl in the street. What happens to her family and daughters in florida. The mother daughter is buried in a cemetery. This is. What happens to the community the public was screaming for a scapegoat the Police Needed a scapegoat so why not choose a 19 year old black kid with a criminal record who better to plan this than him and what happens in court. Shock shock smar officer i feel. We dont know children this is from the. End of this fortunately you. Will still not know the children. Im going to fulfill repeated purposes politics to the people i promise you know we its all pots to. Be. Pretty rough. Cut. Now you want to 1st correct that. You know. All. The u. S. House of representatives has wrapped up its 1st round of impeachment hearings against President Trump but its not done with trying to oust him with new impeachment proceedings ahead is impeachment of viable strategy against the president. Welcome back the north sea. 2 pipelines that to transport natural gas from russia to europe may face a heard all from the United States congress sanctions on Companies Involved in the 11000000000. 00 project has been added to early drafts of the 2020 National Defense authorization act according to the Senate ForeignRelations Committee chairman jim risch who told the defense news the reason for the push is that this window is closing a lot of nordstrom is done already it will cost them dearly i think is the those sanctions passed the companies will shut down and i think the russians will have to look for another way to do this if they can do this the robust legislation still faces debate on what will be done to include it prior to the coming out for full vote meanwhile a german politician alexander grasslands dwarf who is the deputy head of the German Free Democratic Party weighed in on the situation during the Berlin Foreign Policy Forum on tuesday telling our eye for ossie we need to wait for a solution the discussion in washington on north korean 2 has been going on for a long time and in a very controversial tone i consider it public harshly incorrect in terms of the argument put forward adding that they must wait to see what the legislative process will stop. Argentinas president elect Alberto Fernandez said on tuesday he plans to waive the remaining 11000000000. 00 of the countrys loans from the International Monetary fund when he takes office on december 10th outgoing president reseal mccree agreed to a 57000000000. 00 loan from the i. M. F. Just last year mr fernandez read on a platform that was mostly against the austerity measures imposed by the mccree government and its continually been a critical of the i. M. F. Loans speaking with argentinas radio convos the president elect said he will try to revive the economy in order to pay and solve the debt problem sensibly earlier this week argentinas treasury minister herman the cones said 20000000000. 00 in the countrys debt is held by private investors and International Organizations and will mature next year. Because their currencies made good. Streisand 2019 with china and the p. B. R. See finally pushing for a wide adoption of