Story an explanation of why Andrew Jackson is so reviled and all of this is coming up right here but were going to get in. With a bold declaration by china that seems to imply that its simply had enough with quote u. S. Threats to interfere and will now move forward to d. Dollar rise and strike back against the United States by creating a global currency to compete with the u. S. Dollar china has long considered joining russia and fighting back against u. S. Control of the worlds ability to trade or transfer goods without u. S. Interference or say so but now what china is announcing that its actually preparing to be cut off from the u. S. Financial system and theyre taking what appears to be real steps to protect itself why or maybe the better question is why now ok. The reason is that while the United States has been heavy handed in the past it has never according to china and chinese experts and officials gone so far as to weaponize the u. S. Dollar the way that the trumpet ministration is doing so and threatening to do so now. See thats what china says that its doing what its doing even if it shakes up the entire Global Market it says its necessary as a defensive move one of chinas top economic officials seems to be saying that the time for talking is over and now its time to act heres the quote. We have to make preparations early real preparations not just psychological preparations he would fare high is expressing in that fear is that the trumpet ministration will do to them what previous administrations have done to russia with sanctions that have literally locked them out of the World Community what does that mean well what it means is not allowing russia to Exchange Goods or currency with other countries thats a destabilizing thing to do to a country and that type of weapon is ation of the dollar would be tantamount figure to me speaking of course to an economic Nuclear Strike one that would cause unimaginable repercussions not just in china but obviously worldwide when china tries to strike back. How serious is the United States about weaponize in the dollar to punish china how serious and how capable is china in its threat to strike back this is an important story if you want to be ahead of the curve in understanding this park area scenario that could affect you me and just about everybody else on the planet then youll want to stay tuned as we drill down here on the news with rick sanchez where were committed as we often say to the axiom that its time to do news again. And here we go the list of the questions we think youll be asking tomorrow how serious are china and the u. S. In their threats of Economic Warfare is libya once again descending into chaos as the site of an International Proxy War and what is the state of air fare in america right now. But lets go ahead and begin with this with china and what its saying to try and drill down on whether both what they fear and what theyre planning to do about that fear is likely. Is the u. S. Planning to further weaponize the u. S. Dollar by sanctioning china cut them off from the rest of the Global Economy is china capable of striking back by rallying the world around perhaps its own cause and currency. Joining me now to answer these questions is the cohost of boom bust christy i. Hes the host of. A Global Market analysts to take us through this christine lets start with china because i mentioned and what it feels mentioned a while ago that the United States has punished other countries russia being one of those but china seems to fear that the United States is going to go even further than it did with russia explain that to us. Well china right now is being very proactive and its as you said earlier any of the numbers taking a defensive stance right now to prepare for the possibility of being cut off from the u. S. Dollar Payment System in case the u. S. Sanctions China Chinese Companies and banks and right now this is perceived as a real risk from china standpoint because they are quite vulnerable the u. S. Dollar is the worlds reserve currency and all trade is conducted in it so as such china mainly relies on the u. S. Dollar Payment System and most of its international dealings so weve already seen last year china attempted to trade and settle trades of the neighbors in russia and india in their own native currencies while those test runs were quite successful it was still a very small scale so china is quickly realizing this is a very big vulnerability of things to take a nasty turn so right now theyre trying to shift away and be less dependent on the u. S. Dollar but at the same time this is a very double edged sword because this move by the u. S. Would be perceived as a Nuclear Option to cut china out of the Financial Market to cut it out of the Swift Network that would have severe blow back on the Global Economy because cutting china off from swift would be economic suicide the u. S. Currently runs about 3 150000000000. 00 in annual trade deficit with beijing and the p. B. S. See a hold over one trillion dollars in u. S. Debt so the u. S. Really can do without trade with china and china can do without trade with the u. S. So its one thing for the United States to put sanctions on a country and some of its begs for example i think thats what happened with russia for example but when they knock you off with thats a much more difficult blow right explain what happens when you get knocked off us with what happens to a country what can it not do. But it essentially means a new cancer you are cut off from the entire global Monetary Network it means you have no access to liquidity you have no access to the dollars or you cant send International Payment supplements and or any pay for anything that are currently settled in u. S. Dollars. Most of the Global International trade currently is denominated in u. S. Dollars that includes oil that includes agricultural goods that includes basic supply should necessity Materials Energy all of the above all of that is currently denominated us us now be a very severe blow i one of the things that you mention was that as well even though the u. S. Previously historically has sanctioned other cut other nations they cut them off temporarily as was the case with iran it massively hurt their economies but one of the biggest detriments is the fact that in order to completely cut a country off other countries have to also comply with the ban so this is the case with china if the u. S. Wanted to even kick china out of this what people are saying is highly unlikely because the u. S. Would have to get the new on board to endorse and follow these sanctions and theres actually no you know why the e. U. Would do that when it would hurt their economy china as it has proven in this entire coronavirus of the sun proves itself to be the manufacturing hub of the world and they service the e. U. So theres no way they would give that up over a dispute that doesnt even involve them so what would happen to me as a consumer or a citizen of the United States of tomorrow this kind of situation developed i mean weve called it the Nuclear Option the United States continues to weaponize the dollar china finally says weve had enough and does what and what would be the effect on us. While china right now is not as you mentioned is not creating a different currency theyre trying to just lessen their exposure and by doing that theyre creating a gold backed r. And b. Denominated in Oil Futures Contract so this is the century a competitor to the Swiss Network which allows them to send payments internationally and sell trade in their own native currency so if u. S. Were to suddenly blow up and just not have any trade with china whatsoever that would mean that goods for you as a consumer an American Consumer that would mean good prices of goods would rise exponentially even more so than the kids it was last year with terrorists so wed be talking about a level of inflation that we havent seen and i imagine quite some time because the goods would have to be made somewhere else and theyd be more costly correct. Absolutely and in china while it would certainly wreak havoc on their Financial System because as you can imagine shanghai the Shanghai Exchange the hong kong hang seng those are 2 of the biggest largest annex and the hindsight even out ranked the nasdaq last year so if you take a look if you take a look at just the Global Markets and the amount of capital in the flows through china each and every day that is going to recompete havoc on how the trains and trains are going to be settled seems like something we probably dont want to see happen for the good of both sides christine thank you so much good stuff appreciate it thank you. So that libya has become the center for a proxy war and see some of the International Community are calling for a cease fire and peace negotiations as others continue to encourage well a conflict in what is already a war torn nation weve been following this story here on this newscast for quite some time heres an update from alex mahal of each. It was a country that boasted one of the highest standards of living in africa according to pan african News Platform the african exponents under president Moammar Gadhafi in libya Education Health care and even electricity were all free for citizens farmers enjoyed a high level of support from the government mothers were taken care of after giving birth bank loans were interest free home was deemed natural human rights and the Literacy Rate jumped from 25 percent to 75 percent under gadhafi. But then along came nato in 2011 Alliance Forces back to rebellion against gadhafi government that war came to an end when the countrys leader was tortured and killed by western backed rebels on october 20th 2011 a gruesome scene applauded by some as we came we saw died. But its hard to overlook the fact that chaos has continued in libya to this day a variety of players have struggled to control the Oil Rich Nation the 2 most prominent or military commander Khalifa Haftar is Libyan National army which has the backing of the United Arab Emirates saudi arabia egypt france and russia and the tripoli based government of National Accord which is supported by the un qatar italy and turkey officially libya is under an arms embargo but somehow weapons keep pouring in this monday turkey and italy announced that they are working together to stop the flow heres italys foreign minister. If we stop the arrival of arms or he said he really limit the entrance we will be able to reduce aggressiveness of the 2 libyan sides in this conflict. The same day france accused its nato ally turkey of violating the weapons and bargo that you know i already had the opportunity to clearly say it to president or to watch will do i consider today to turkey place in the limo yesterday dangerous teams and is in breach of all commitments is going to berlin contrasts the bill with Alliance Members going head to head in regard to libya the french president reiterated his statement from last year calling nato brain dead once again Turkish Military interference in libya has helped the government of National Accord achieve recent gains on the ground making the situation even more complicated this past week in egypts president warned that if Turkish Backed progeny forces advance on the strategic city of sirte it could provoke a direct intervention by cairo the turkish. G. N. A. T. Has called the announcement a declaration of war with tension high many nations including the u. S. And russia are calling for an immediate cease fire we stressed the need for an early cease fire in libya and agreed on urging libyan Political Forces to engage in constructive dialogue as soon as possible. If egypt was provoked to follow through on its threat it would bring the conflict to a new level the battleground that has already become an International Arena could easily spread into a regional war for news with rick sanchez im alex my love it and this is the news with actually and charles and youre watching our special coverage were going to be right back with a follow up to the coverage of our state of the Airline Industry what is it you know. Like it plainly hosts ask a question for the guests and actually listens to the guests answer and then react to that answer 8 folks Dennis Miller here ive got a new show. On larry king questioning listening learning you know ive always said i never learned anything when i was talking its important to listen. Questioning more. Ive seen the horrors that arise with money and evil. Corporate criminals who trashed countless lives theyre just one more dollar to their billions. They threaten they bribe theyll do anything to keep their crimes in the door when the people theyve heard are demanding justice their stories need to be told on americas lawyer. Question subletting online algorithms dictate what you get to watch go to portable dot tv slash download to get killer television its completely separate im talking Award Winning comedy awesome Sports Coverage inside so fresh still taste like rats berries on a spring day take so hot theyll burn your face off thousands of videos more added by the hour did i mention its free its its yes free go go get it portable t. V. Im holland cook i invite you to climb with me above the main stream media fire and from that higher fan to church to glimpse the big picture question more. Welcome back well as airlines all over the world try and figure out if theyre going to be able to survive germanys Major Airline the spartans are is having trouble getting off the ground see each airline is trying to fight for survival in its own way in its own country under its own terms but those provinces have tons of story is kind of unique reporting from berlin here is our g. s peter all of. The love tons of bailout saga continues to roll on like 747 passing right over your head no agreement so far on the job cut package thats been put on the table for the german flag carrying airline thursday is the crunch date thats when shareholders will be voting on whether to accept the german state taking a 20 percent share of tonnes or in exchange for around 9000000000. 00 euros to around 10000000000. 00 of much needed cash for. Talks on redundancy packages were ongoing with the pilots union and the union that represents cabin crew with the airline no agreement has been reached so far we understand those talks will continue right up until the vote takes place on thursday if theres no agreement before then what will happen though is if they agree to the job could package then it could well be a step towards the german state taking a 20 percent share of love tons that not so fast though the other bits of turbulence if you will in this deal reaching its final destination till one of. Major shareholders he owns 15. 5 percent of the corporation he says hes not entirely happy about the german state taking 2 seats dances Supervisory Board thats part of the deal thats been put forward by. The German Government he was locked in talks on monday with the german finance minister the minister for the economy no solution has been found there what could happen then with regards to tail is that when it comes to the vote on thursday he could well either veto the whole thing which would mean that suspension of the deal could be off e could abstain from the vote or he could well pursue legal action after the fact 22000 jobs remember. On the chopping block isnt the only scandalous facing this deal a there if you were cast your minds back earlier on i was talking about the union that represents cabin crew here in germany and their stake in these negotiations they have the u f o theyre called well the head of that union sis is reportedly according to media here asking for 1000000 euros otherwise hes not going to support the bailout deal he says that this 1000000 is for legal costs tangible losses it isnt going down well in the public especially with considering how many jobs as i said risk alternately though what were seeing is the future of one of aviations most recognizable brands turning into something of a soap opera peter all of the. News with rick sanchez is a fascinating story to watch the coming together if you will of governments of marylands everybodys trying to figure out a way figure a way out of this we thought this would be a great opportunity for us to have a discussion about the sta