Transcripts For RT Boom Bust 20240713 : comparemela.com

Between gold and big point for safe haven supremacy with a packed show today so lets dive right in. And we lead the program with an escalation in tensions between the United States and china the trumpet ministration on friday announced new measures to block shipments of semiconductors from chip makers to while away technologies in announcing the move the u. S. Commerce Department Said they would be changing the export rule to strategically target while ways acquisition of semiconductors that are the direct product of certain u. S. Software and technology adding the announcement cuts off while weighs efforts to undermine u. S. Export controls under the amendment to the rule Foreign Companies that keep that use chip making equipment originating in the us will be required to obtain a license before providing the chips to walk away or any of their affiliates earlier this week the us president and donald trump extended an executive order originally signed in may of 2019 which stopped u. S. Companies from using Telecom Equipment made by companies that pose a National Security risk now this order is now extended until may of 2021 the order has been characterized as a move against Chinese Companies like way and z t e. And to me while china is risk directing imports from australia some believe the move is a retaliatory measure against the Australian Governments support of an International Probe into chinas role in the coronavirus pandemic arctic correspondent alex smile of edge as the story. Australia has been hit by chinese trade suspensions and analysts say they know why all street is trying only to d use. Its d very its going to fall Chinese People also. I think states so thats why now we just have to do something. Echoing the us australia is calling for an International Investigation into the origins of covert 19 questioning chinas transparency surrounding the outbreak of the virus some analysts believe china is striking back by banning australian imports both governments however deny the claim and say the beef is about something completely different. Chinese customs on that multiple badges that are only products exported to china by certain Australian Company buys in violation of the election in quarantine requirements 2 of them were jointly determined by the competent authorities of both an order and we will this is obviously a. Difficult time as we do with one particular sit and try to issues that we like to do a dumping as well as the what is effectively the administration around a belief in exports to china whatever the reason behind the chinese trade barriers the land down under will likely feel the pain china is australias largest trading partner over a 3rd of the countrys exports went to china in 2017 as for imports australia brings in more goods from china than anywhere else in fact australia is known to be one of the most china rely. Developed economies in the world at the center of the current trade battle is beef 80 percent of australias goes to china up barley is also on the hit list china confirmed it is ready to impose a devastating tariff of just over 80 percent on australias barley exports due to anti dumping allegations chinese restrictions could do a lot of harm to the industry since china buys nearly 50 percent of australias barley exports the Australian Government believes other agricultural sectors could be at risk including wine dairy and seafood in all 28 percent of all of australias Agricultural Products are exported to china however its not a one way street a 5th of chinas barley comes from australia in fact australias chinas if the biggest supplier and that includes goods that are critical to chinas energy and manufacturing sectors australias largest exports to china include cool iron ore and natural gas worth 80000000000. 00 a year. When it comes to iron ore chinese steel mills or engineer to take particular blends that a strictly a supplies that along with the reality that there are a limited number of competitors selling the resources make it unlikely china would shift away to other suppliers and while they keep pushing for a china investigation the ozzies are banking on that we drew a very clear lines about things that are very important to us as does the Chinese Government and we respect their lines as we expect allies to be respected australia continues to insist on a china related covert 19 investigation while at the same time calling for treetops with china so far china is not answering the phone and if issues arent resolved australia might have to brace itself for a severe economic follows. And for more on these increased tensions with china were joined by boom bust cohost Christine Christie thanks for being with us as always i the 1st question when we look at all that data that weve just received from alex there how reliant is australia on trade with china. Magine heavily heavily relied because china is by far australias biggest export market and pretty much a 3rd of exports by value so as i just mentioned not only does this include Agricultural Products like beef up our lakes but also over 80000000000. 00 in iron ore and 20000000000. 00 in coal and natural gas exports so in 2008 australia exported 120000000000. 00 in goods and services to china which is about 7 percent of g. D. P. So now these new trade barriers are wrecked it around specifically beef and barley are concerning for australian farmers who are now forced to kind of diversify and look to expand into other asian markets such as south korea and japan but obviously due to the population the demand cannot be replaced from china that means like so a very interesting quote from the a c. M. P. Read that australians diplomacy might be a bit naive by playing hard with china the us gets the candy so this entire dispute might actually pave the way for it to increase chinas beef and marley purchases from the us instead of australia in order to further help meet its purchase obligations on the face one trade deal seems as if china when one door closes for china another door seems to always open we saw that with the us and sawyer i believe it was brazil who ended up sending quite a bit to sawyer after we had those issues so i want to mark their place like that and. Thats all i want to do to bring up the 1st story we did today the u. S. Has escalated its bout battle against walk away again whats going on here. Well the german ministration announced new export restrictions friday to further cut all Telecom Giant huawei from the receipt suppliers so it seems like now that this mass panic over the coronavirus has died down the u. S. Wasted no time in picking up exactly where things left off which threatens to ignite a whole new round of u. S. China tensions so this new restrictions stopped shore and semi manufacturers whose operation used u. S. Software and technology from shipping products to huawei without 1st getting a license from u. S. Officials so this is simply gives the u. S. Commerce department a veto over the kinds of technology the hallway can use which is again just like what we said on thursday that u. S. Courts are having distribution of telegrams globally it sets a very dangerous precedent for the u. S. To flex its powers to control what can or cannot be distributed outside of the u. S. So now under these new rules the department can essentially block the sale of semi is manufactured by taiwans i mean Manufacturing Company located in taiwan as it uses cern u. S. Chip making technology so now think about it if youre you if youre a Company Based in say india and you want to use American Technology to manufacture a small portion of the full stack and of course are also paying for the right to use that technology but now because that one tiny portion that now makes you subject to the u. S. For who you can or cannot sell to even though youre not even a u. S. Based company so at that point it doesnt really make sense and the u. S. Is now flexing its muscles globally in order to have indoor to control detect technology to china you know kristie quickly we got about 30 seconds left of the segment but how is china actually expected to retaliate to the situation. Well as weve seen from what happened last year any move against wildly which is the crown jewel of beijing being mistreated will resign and challenge any actions which could include things like another bout of the tariff one but also china can also activate the unreliable entities and that will restrict u. S. Companies including Qualcomm Cisco apple and boeing boeing the huge target right now in china could suspend purchase of boeing planes the only another major blow to our the struggling company so all 4 names are down massively this morning because of that and really boeing can take another hit as well after all the issues that theyve had not only with the pandemic but obviously the 737 max crisis cohost christiane thank you for breaking that all down for us. India. Global markets are all down on the week as oil search 3 percent its highest level in more than a month still Market Sentiment is low after the latest flare up between the u. S. And china over the trump administrations move to block Semiconductor Shipments to while away technologies are at lets start in russia where the x is in the red for the week a trend you will see in every market coronavirus cases are still rising in the ruble and russian Treasury Bonds hit record highs on friday as oil prices surged but it still wasnt enough to push markets into the green in russia for the week moving over to asian markets all 3 in the red as we talked about the shanghai composite is just slightly in the red however with very little change the week data released on friday showed chinas industrial output is bouncing back and rose 3. 9 percent year over year for the month of april in hong kong the hang seng also down in the week and the with us russia u. S. China tensions rather on the rise and potential tariffs on the table hong kong is watching asias Financial Hub saw a 1st quarter g. D. P. Drop of 8. 9 percent in advance reading this week the worst on record. Acard theres also concern that once the virus subsides protests may return now in japan the nikkei is following similar trends with this 1st weekly loss in 3 weeks Investor Sentiment took a hit again under cheerier the relationships between the u. S. And china and the possibility of another trade war lets move to india where this is also down on the week down 17 percent for the last 3 months now although Telecom Major air tel saw the biggest gains on friday up nearly 3 percent not a good week in india shares in australia are also down for the week the a. S. X. Tumbled and saw its biggest drop since may 1st on concerns about the us economy in april 600000 jobs were wiped from australias economy and on friday the index did see some gains with major minor b. H. P. Shares jumping more than 3 percent moving to south africa the j. S. C. All share is following the same trend down for the week now lets take a walk over to the other side of the studio and take a look at europe and the americas that its more of the same in europe with the 3 major indices down for the week were to star in france with the cac it was up on friday but it still wasnt enough to make up for the losses now the german dax also down but saw some gains early friday of 11 percent on signs of a recovery in china which helped boost sentiment now that didnt last as the index remained volatile throughout the day europes largest economy saw its sharpest quarterly decline german g. D. P. Shrank by 2. 2 percent in the 1st quarter compared to the final 3 months of 2019 now in the u. K. The footsie 100 is on trend down for the week as the index saw gains on friday as a quad back some of thursdays major losses minors jump between 2. 0 and 3. 4 percent on friday alone lets cross the atlantic to brazil for the best but is also in the red this week now brazils central bank said g. D. P. For march. By 5. 9 percent the government now expects the economy to shrink by 4. 7 percent this year this would be the largest drop since 1900 when it became began recording that data lets move north to mexico the b. M. V. Is also down on the week as the country sees its peak of coronavirus cases the country plans to reopen its auto construction mining and mining sectors by monday despite record deaths and then going into the u. S. All 3 major indices in the dow s. And p. And nasdaq are down on the week as u. S. Retail sales tank 16 percent in april alone the dow saw the dow actually had its worst week since late march apple qualcomm and boeing all saw a decline in prices this week and lets finish it out in canada the t. S. A. Finished in the red despite seeing some gains in the Energy Sector which climbed 1. 4 percent while u. S. Crude prices jumped 4. 2 percent a barrel as data continues to come in showing the Economic Impact of the pandemic were going to keep an eye on the volatility within World Markets which is what we are seeing and that is your Global Market walk. And time now for a quick break but hang here because when we return as the cove in 1000 pandemic continues to rage on investors are seeking a hedge and its a conflict between old reliable and the new school we breakdown the fight between gold and big oil for safe haven supremacy as we go to break here the numbers at the close. We go to work soon straight home for. The dropping of the f. B. I. Case against Michael Flynn tree deals with so many of us have long believed russia gate was a crude and slot beach invention undermine the outcome of the president ial election irrespective of how do you feel about the current occupant of the white house it was an attempted coup telly the corporate liberal media siding with the conspirators. Thats right herr and i are is the Ticker Symbol for harris thanks closed down the font and you can buy all of the care. That we feature here on this episode of kaiser report its currently trading at a market cap of about 3900000000. 00 but were expecting the fed to come in and front run the market and take us up to a much higher capitalization possibly 7 or 9 trillion dollars. And welcome back the coronavirus continues to sweep across the globe as some nations are beginning to reopen their economies following the lockdown measures for a closer look on where the globe stands on infections we turn things over to our to correspondent side to have injured. Brand lockdown around the country have been lifted in almost every state and businesses are almost universally reopening under restrictions such as allowing fewer customers or crime workers and customers to wear a mask and enforcing a social this today this than saying so right now a handful of states remain on lockdown with state home orders in places and most businesses still closed but lets take a look so illinois and delaware are still have stay at home orders in effect until may 31st and those are the red states now michigan on the other hand will open on may 28th then we have new jersey whos going to open up a little bit later on june 5th while d. C. Right here is set to open the latest on june 8th then we have the states that are opening soon which are the states in blue by made between may 18 and 20 and now its not yet clear whether dos states will extend their stay at home orders which will all depend looking at new cases and deaths next week the same time the restrictions are to be lifted then we have seats that are reopening in some areas and those are the ones in orange do you see right here which means governors are allowing counties or regions that meet criteria for slowing the outbreak to open ahead of others meanwhile the hardest hit areas in those states are to remain under Strict Lockdown that a great example of that is new york which has been hit the heart is so red areas like new york city are likely to open a much later then we have states that are just a reopening you see all the ones in green which means businesses are almost universally reopening but under restrictions allowing fewer customers requiring workers and customers to wear masks and enforcing social distance and now the states that are reopening for the most part are said to be open. By me 18th adelaide is and brand all of these reopening is right here have come even as the c. D. C. Is warning that reopening too soon might trigger and nother uncontrollable outbreak but moving over to europe. Where countries are determined to put. Back on a map for the summer so if so while the years a list of countries that have already ease restrictions for their citizens and which the restaurants museums and retail open but a europe is different that the u. S. And different in the u. S. Because the e. U. Is really dependent on tourism between the countries for example germany represents 30 percent of the annual tarus in our history so the turn of germans marks an Important Role to recovery for us so while this long list of countries are no longer on their Strict Lockdown they are still working on opening our borders between the e. U. Asinine europeans with the e. U. Travel ban on foreigners now extend it until june 15th very few airlines are flying and travel advisories worldwide is warning against all International Travel now the chance of visiting the euro before fall is iffy now also looking at industry thats been hit really hard so far few industries have been hard as badly as tourism now this is the impact of the pandemic on the airline then this represents just the airlines now for example if you look in europe they have lost an estimated 76000000000. 00 on United States<\/a> and china the trumpet ministration on friday announced new measures to block shipments of semiconductors from chip makers to while away technologies in announcing the move the u. S. Commerce Department Said<\/a> they would be changing the export rule to strategically target while ways acquisition of semiconductors that are the direct product of certain u. S. Software and technology adding the announcement cuts off while weighs efforts to undermine u. S. Export controls under the amendment to the rule Foreign Companies<\/a> that keep that use chip making equipment originating in the us will be required to obtain a license before providing the chips to walk away or any of their affiliates earlier this week the us president and donald trump extended an executive order originally signed in may of 2019 which stopped u. S. Companies from using Telecom Equipment<\/a> made by companies that pose a National Security<\/a> risk now this order is now extended until may of 2021 the order has been characterized as a move against Chinese Companies<\/a> like way and z t e. And to me while china is risk directing imports from australia some believe the move is a retaliatory measure against the Australian Government<\/a>s support of an International Probe<\/a> into chinas role in the coronavirus pandemic arctic correspondent alex smile of edge as the story. Australia has been hit by chinese trade suspensions and analysts say they know why all street is trying only to d use. Its d very its going to fall Chinese People<\/a> also. I think states so thats why now we just have to do something. Echoing the us australia is calling for an International Investigation<\/a> into the origins of covert 19 questioning chinas transparency surrounding the outbreak of the virus some analysts believe china is striking back by banning australian imports both governments however deny the claim and say the beef is about something completely different. Chinese customs on that multiple badges that are only products exported to china by certain Australian Company<\/a> buys in violation of the election in quarantine requirements 2 of them were jointly determined by the competent authorities of both an order and we will this is obviously a. Difficult time as we do with one particular sit and try to issues that we like to do a dumping as well as the what is effectively the administration around a belief in exports to china whatever the reason behind the chinese trade barriers the land down under will likely feel the pain china is australias largest trading partner over a 3rd of the countrys exports went to china in 2017 as for imports australia brings in more goods from china than anywhere else in fact australia is known to be one of the most china rely. Developed economies in the world at the center of the current trade battle is beef 80 percent of australias goes to china up barley is also on the hit list china confirmed it is ready to impose a devastating tariff of just over 80 percent on australias barley exports due to anti dumping allegations chinese restrictions could do a lot of harm to the industry since china buys nearly 50 percent of australias barley exports the Australian Government<\/a> believes other agricultural sectors could be at risk including wine dairy and seafood in all 28 percent of all of australias Agricultural Products<\/a> are exported to china however its not a one way street a 5th of chinas barley comes from australia in fact australias chinas if the biggest supplier and that includes goods that are critical to chinas energy and manufacturing sectors australias largest exports to china include cool iron ore and natural gas worth 80000000000. 00 a year. When it comes to iron ore chinese steel mills or engineer to take particular blends that a strictly a supplies that along with the reality that there are a limited number of competitors selling the resources make it unlikely china would shift away to other suppliers and while they keep pushing for a china investigation the ozzies are banking on that we drew a very clear lines about things that are very important to us as does the Chinese Government<\/a> and we respect their lines as we expect allies to be respected australia continues to insist on a china related covert 19 investigation while at the same time calling for treetops with china so far china is not answering the phone and if issues arent resolved australia might have to brace itself for a severe economic follows. And for more on these increased tensions with china were joined by boom bust cohost Christine Christie<\/a> thanks for being with us as always i the 1st question when we look at all that data that weve just received from alex there how reliant is australia on trade with china. Magine heavily heavily relied because china is by far australias biggest export market and pretty much a 3rd of exports by value so as i just mentioned not only does this include Agricultural Products<\/a> like beef up our lakes but also over 80000000000. 00 in iron ore and 20000000000. 00 in coal and natural gas exports so in 2008 australia exported 120000000000. 00 in goods and services to china which is about 7 percent of g. D. P. So now these new trade barriers are wrecked it around specifically beef and barley are concerning for australian farmers who are now forced to kind of diversify and look to expand into other asian markets such as south korea and japan but obviously due to the population the demand cannot be replaced from china that means like so a very interesting quote from the a c. M. P. Read that australians diplomacy might be a bit naive by playing hard with china the us gets the candy so this entire dispute might actually pave the way for it to increase chinas beef and marley purchases from the us instead of australia in order to further help meet its purchase obligations on the face one trade deal seems as if china when one door closes for china another door seems to always open we saw that with the us and sawyer i believe it was brazil who ended up sending quite a bit to sawyer after we had those issues so i want to mark their place like that and. Thats all i want to do to bring up the 1st story we did today the u. S. Has escalated its bout battle against walk away again whats going on here. Well the german ministration announced new export restrictions friday to further cut all Telecom Giant<\/a> huawei from the receipt suppliers so it seems like now that this mass panic over the coronavirus has died down the u. S. Wasted no time in picking up exactly where things left off which threatens to ignite a whole new round of u. S. China tensions so this new restrictions stopped shore and semi manufacturers whose operation used u. S. Software and technology from shipping products to huawei without 1st getting a license from u. S. Officials so this is simply gives the u. S. Commerce department a veto over the kinds of technology the hallway can use which is again just like what we said on thursday that u. S. Courts are having distribution of telegrams globally it sets a very dangerous precedent for the u. S. To flex its powers to control what can or cannot be distributed outside of the u. S. So now under these new rules the department can essentially block the sale of semi is manufactured by taiwans i mean Manufacturing Company<\/a> located in taiwan as it uses cern u. S. Chip making technology so now think about it if youre you if youre a Company Based<\/a> in say india and you want to use American Technology<\/a> to manufacture a small portion of the full stack and of course are also paying for the right to use that technology but now because that one tiny portion that now makes you subject to the u. S. For who you can or cannot sell to even though youre not even a u. S. Based company so at that point it doesnt really make sense and the u. S. Is now flexing its muscles globally in order to have indoor to control detect technology to china you know kristie quickly we got about 30 seconds left of the segment but how is china actually expected to retaliate to the situation. Well as weve seen from what happened last year any move against wildly which is the crown jewel of beijing being mistreated will resign and challenge any actions which could include things like another bout of the tariff one but also china can also activate the unreliable entities and that will restrict u. S. Companies including Qualcomm Cisco<\/a> apple and boeing boeing the huge target right now in china could suspend purchase of boeing planes the only another major blow to our the struggling company so all 4 names are down massively this morning because of that and really boeing can take another hit as well after all the issues that theyve had not only with the pandemic but obviously the 737 max crisis cohost christiane thank you for breaking that all down for us. India. Global markets are all down on the week as oil search 3 percent its highest level in more than a month still Market Sentiment<\/a> is low after the latest flare up between the u. S. And china over the trump administrations move to block Semiconductor Shipments<\/a> to while away technologies are at lets start in russia where the x is in the red for the week a trend you will see in every market coronavirus cases are still rising in the ruble and russian Treasury Bonds<\/a> hit record highs on friday as oil prices surged but it still wasnt enough to push markets into the green in russia for the week moving over to asian markets all 3 in the red as we talked about the shanghai composite is just slightly in the red however with very little change the week data released on friday showed chinas industrial output is bouncing back and rose 3. 9 percent year over year for the month of april in hong kong the hang seng also down in the week and the with us russia u. S. China tensions rather on the rise and potential tariffs on the table hong kong is watching asias Financial Hub<\/a> saw a 1st quarter g. D. P. Drop of 8. 9 percent in advance reading this week the worst on record. Acard theres also concern that once the virus subsides protests may return now in japan the nikkei is following similar trends with this 1st weekly loss in 3 weeks Investor Sentiment<\/a> took a hit again under cheerier the relationships between the u. S. And china and the possibility of another trade war lets move to india where this is also down on the week down 17 percent for the last 3 months now although Telecom Major<\/a> air tel saw the biggest gains on friday up nearly 3 percent not a good week in india shares in australia are also down for the week the a. S. X. Tumbled and saw its biggest drop since may 1st on concerns about the us economy in april 600000 jobs were wiped from australias economy and on friday the index did see some gains with major minor b. H. P. Shares jumping more than 3 percent moving to south africa the j. S. C. All share is following the same trend down for the week now lets take a walk over to the other side of the studio and take a look at europe and the americas that its more of the same in europe with the 3 major indices down for the week were to star in france with the cac it was up on friday but it still wasnt enough to make up for the losses now the german dax also down but saw some gains early friday of 11 percent on signs of a recovery in china which helped boost sentiment now that didnt last as the index remained volatile throughout the day europes largest economy saw its sharpest quarterly decline german g. D. P. Shrank by 2. 2 percent in the 1st quarter compared to the final 3 months of 2019 now in the u. K. The footsie 100 is on trend down for the week as the index saw gains on friday as a quad back some of thursdays major losses minors jump between 2. 0 and 3. 4 percent on friday alone lets cross the atlantic to brazil for the best but is also in the red this week now brazils central bank said g. D. P. For march. By 5. 9 percent the government now expects the economy to shrink by 4. 7 percent this year this would be the largest drop since 1900 when it became began recording that data lets move north to mexico the b. M. V. Is also down on the week as the country sees its peak of coronavirus cases the country plans to reopen its auto construction mining and mining sectors by monday despite record deaths and then going into the u. S. All 3 major indices in the dow s. And p. And nasdaq are down on the week as u. S. Retail sales tank 16 percent in april alone the dow saw the dow actually had its worst week since late march apple qualcomm and boeing all saw a decline in prices this week and lets finish it out in canada the t. S. A. Finished in the red despite seeing some gains in the Energy Sector<\/a> which climbed 1. 4 percent while u. S. Crude prices jumped 4. 2 percent a barrel as data continues to come in showing the Economic Impact<\/a> of the pandemic were going to keep an eye on the volatility within World Markets<\/a> which is what we are seeing and that is your Global Market<\/a> walk. And time now for a quick break but hang here because when we return as the cove in 1000 pandemic continues to rage on investors are seeking a hedge and its a conflict between old reliable and the new school we breakdown the fight between gold and big oil for safe haven supremacy as we go to break here the numbers at the close. We go to work soon straight home for. The dropping of the f. B. I. Case against Michael Flynn<\/a> tree deals with so many of us have long believed russia gate was a crude and slot beach invention undermine the outcome of the president ial election irrespective of how do you feel about the current occupant of the white house it was an attempted coup telly the corporate liberal media siding with the conspirators. Thats right herr and i are is the Ticker Symbol<\/a> for harris thanks closed down the font and you can buy all of the care. That we feature here on this episode of kaiser report its currently trading at a market cap of about 3900000000. 00 but were expecting the fed to come in and front run the market and take us up to a much higher capitalization possibly 7 or 9 trillion dollars. And welcome back the coronavirus continues to sweep across the globe as some nations are beginning to reopen their economies following the lockdown measures for a closer look on where the globe stands on infections we turn things over to our to correspondent side to have injured. Brand lockdown around the country have been lifted in almost every state and businesses are almost universally reopening under restrictions such as allowing fewer customers or crime workers and customers to wear a mask and enforcing a social this today this than saying so right now a handful of states remain on lockdown with state home orders in places and most businesses still closed but lets take a look so illinois and delaware are still have stay at home orders in effect until may 31st and those are the red states now michigan on the other hand will open on may 28th then we have new jersey whos going to open up a little bit later on june 5th while d. C. Right here is set to open the latest on june 8th then we have the states that are opening soon which are the states in blue by made between may 18 and 20 and now its not yet clear whether dos states will extend their stay at home orders which will all depend looking at new cases and deaths next week the same time the restrictions are to be lifted then we have seats that are reopening in some areas and those are the ones in orange do you see right here which means governors are allowing counties or regions that meet criteria for slowing the outbreak to open ahead of others meanwhile the hardest hit areas in those states are to remain under Strict Lockdown<\/a> that a great example of that is new york which has been hit the heart is so red areas like new york city are likely to open a much later then we have states that are just a reopening you see all the ones in green which means businesses are almost universally reopening but under restrictions allowing fewer customers requiring workers and customers to wear masks and enforcing social distance and now the states that are reopening for the most part are said to be open. By me 18th adelaide is and brand all of these reopening is right here have come even as the c. D. C. Is warning that reopening too soon might trigger and nother uncontrollable outbreak but moving over to europe. Where countries are determined to put. Back on a map for the summer so if so while the years a list of countries that have already ease restrictions for their citizens and which the restaurants museums and retail open but a europe is different that the u. S. And different in the u. S. Because the e. U. Is really dependent on tourism between the countries for example germany represents 30 percent of the annual tarus in our history so the turn of germans marks an Important Role<\/a> to recovery for us so while this long list of countries are no longer on their Strict Lockdown<\/a> they are still working on opening our borders between the e. U. Asinine europeans with the e. U. Travel ban on foreigners now extend it until june 15th very few airlines are flying and travel advisories worldwide is warning against all International Travel<\/a> now the chance of visiting the euro before fall is iffy now also looking at industry thats been hit really hard so far few industries have been hard as badly as tourism now this is the impact of the pandemic on the airline then this represents just the airlines now for example if you look in europe they have lost an estimated 76000000000. 00 on Airlines Latin America<\/a> has lost about 15000000000. 00 middle easts 19 a just pacific 88000000000. 00 africa 4000000000. 00 and north america 50000000000. 00 so brant taking a snapshot of the tourism losses in. Its really difficult because the data changes as quickly as it spreads but at the pandemic continues for several more months the travel the world travel and Tourism Council<\/a> that the trade group that represents major Global Travel<\/a> companies projects a global loss of 75000000 jobs and 2 point one trillion in revenue r t correspondent sara temperature thank you for keeping us up to date. And with nations around the World Printing<\/a> massive amounts of currency many investors are looking for safe havens traditionally safe haven investments are assets such as gold and silver but increasingly over the last few years because in another crypto currencies have become a focus for investors so which is truly the better truck choice because or gold joining me now to discuss the school bus coach ben swan all right ben i dont know if this is even a fair question for you. Is it because ive been or is it gold or you know what im going to say i want to say its because of course but i think theres some there is some statistical evidence to back me up here look listen gold is good no no taking shots here gold i think theres a lot of people whove invested in gold for a lot of years it has been truly a safe haven asset and gold has been on the rise you know golds up Something Like<\/a> 16 percent since march so its done pretty well and for folks who you know are tied into it its obviously a good investment and a lot of nations are tied into gold nations like china certainly buy up a lot of gold so theres no knock on it but if youre talking about just are alive return on investment cohen is far superior im just since march alone because it has increased by 42 percent and in general if you go back to the fact that big coins really about 11 or 12 years old were talking about thousands of percent return on those initial investments and that quite so it has risen pretty steadily and its been strong now big coin is more volatile than gold. Terms of the day to day week to week outlook but again if youre going by larger swaths 3 months 6 months or a year because the way to go well but if were looking at something if we want to use the term safe haven arent we looking at that situation where its less volatile than say big coen i mean isnt that why. People like our friend peter schiff i know we always reference whenever we talk about gold but our friend peter schiff he would say look its not volatile yes youre not going to see the big gains that you see in because but youre also not going to see that big plunge if say you buy at 8000 and drops to 5000 in a couple weeks span right so heres heres the problem with whats happened with bitcoin so if you go back 12 years and you say those initial investors or even people who are buying you know they quit in 2015 or 2016 or even 2017 right people who held onto those investments as a long term actual store of wealth investment they do well the problem is that a lot of people at the end of 2017 were getting into big coin because they saw it as a money flip they wanted to go and get a return on that investment you know it increased by a 1000 dollars 2003000 dollars and then get back out of it again so they were essentially trying to flip money that is not any kind of store of value if you do that with gold you would never make your money back likes it takes too long but thats how people were treating it but if you go back to treating that point as an actual safe haven and not just because by the way but other currencies as well if you treat them a safe havens and say im buying in today lets see what this is worth in 5 years or 10 years i think youre going to be pretty happy now but i wanted to touch on this because were now seeing some massive Major Players<\/a> were actually measure this earlier like multibillion Dollar Hedge Fund<\/a> manager Paul Tudor Jones<\/a> who order of diversifying their portfolios with because jones even compared because potential to that of gold in the 1970 s. Why is because it considered better by an investor like him i mean obviously he has more money to play with say a day to day and i just dont i mean but hes still so. Value. Sure he absolutely is well theres a couple of things you know big quinn is superior in a few ways to gold and thats not exactly way but in a few pretty specific ways one is the gold its difficult to transport its not very portable obviously because it is because its all digital so its much more liquid and you can and you can move it around if you decide you need to use that point at some point to cash that out and actually use it its much easier to do than gold as well and i think just overall if you look at the future of money storage. Currency in general its easier to use Something Like<\/a> a big coin or crypto currency compared to gold which takes physical space to store which requires you know more hoops to jump i mean where do you store it where do you keep it if you really want to it to protect it i can do that on a flash drive whereas somebody else would have to have a huge safe someplace to bust cohost ben swan thank you very much for breaking that down for us. And thats it for this time because boom bust of the brand new portable t. V. Episode on smartphones through google play on the Apple App Store<\/a> by searching portable t. V. And you can also catch us as always at youtube dot com slash boom bust r t c n x time. When i last saw it seemed wrong. I dont really see just dont call. Me. Yet to see. This thing become active. And engaged with equals betrayal. When something you find themselves worlds apart we just of the common ground. Welcome to max hazard and its a survival guide. 2 year. Yanks this is what happens to pensions in britain. You watched as a report. You have a lot of people where you can keep blurry im going to remember anything but at least. You could probably. In the. Birth week i was really. Mean you. Will ask yourself how are you going to walk how are you going to protect yourself. With your new. Using technology where theyve been able to me x. Peoples private information on the cell phones and see what youve seen if you have crossed off somebody who is positive coronavirus and if you are if you have a meeting. On to somebody positive please you must be in are in tina. But i think that there was an interesting thing. Or are in the same situation. Description sound appetising even for the owners. To choose. Whos this pet Food Industry<\/a> is telling us what to feed our pets really more based on what they want soundless than was necessarily good for the pet turns out that food may not be associated people believe we have animals that have you know diabetes in arthritis they have auto immune disorders if allergies we are actually creating these problems is a huge epidemic of problems all of them i believe can be linked to fairy simple problem of diet and some dog owners so heartbreaking stories about their pets less treats the larger corporations are not very interested in proving or disproving the value of their food because theyre already making it a 1000000000. 00 on it and theres no reason to do that research. Hello everyone lets take a look at todays menu to see what were serving up on the press i was struck peggy by the cynicism of the answer did n. B. C. Show up todd purposely added an answer given by attorney general william barr to c. B. S. News and then played on meet the press to make barr look bad and i obviously am very sorry for that mistake todd says no well let you see it and decide for yourself as the d. O. J. Drops their charges against general Michael Flynn<\/a> and new revelations surface about the role of the Obama Administration<\/a> in unmasking him much of the media is silent or blaming the attorney general will discuss and a big congressional pick up for republicans in california but you would know","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia802905.us.archive.org\/35\/items\/RT_20200516_003000_Boom_Bust\/RT_20200516_003000_Boom_Bust.thumbs\/RT_20200516_003000_Boom_Bust_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240716T12:35:10+00:00"}