This is them by phone business. Yeah. You cant afford to miss, im rachel. Love it. But i bred to bore and watch it. And heres what we have coming up while starting, taking a stand against crypto. Currently in the past, the nation is making move through for the world of block chain technology. Well take a look at what the impact that could have. Then we thank you next door to india, where the worlds 2nd largest nation is later for a major rebound in the wake of coven, whoa and later on spotify, that will add a new warning on his platform after the most popular podcast or in the world, was criticized for his content on the platform. Well discuss the latest in the ongoing debate. We have a lot to cover, so lets get started. And we leave the program with chinas foray into the exploration of block chain technology. Now on the government may have cracked down on crypto currency, the nation seems to be embracing its Underlying Technology in a way others have not. China has now selected 15 pilot zones and identified several areas application to quote carry out the innovative application of block chain technology. According to a joint government statement on sunday, the pilot zones include areas in chinas major cities of beijing and shanghai, as well as going jo. Ann chung, do. So what do these new zones mean for block Chain Development with talk to, to watch, co host, christie. I for more christie, whats the reason behind these so called pilot i mean at the same reason that most technology is actually phased in, because there are always challenges when i come to deployment and implementation of new technology. Things are usually phase in so that any error challenges or pain points they can be quickly identified and dealt with. And the ramifications can be contained on a smaller scale to allow for maximum response time. So we saw the same thing with always 5, g will allows tardy certain cities 1st before ramping up, because inevitably there will be some hang ups. And china will be deployed this block chain across the 15th zone. And also 164. 00 entities which include fields such as energy, taxation, trade, finance, Health Care Costs or finance, copyright, etc. So it essentially a for the large scale implementation of walking across these businesses and government organizations in china. So that each area, specific Cyberspace Administration and relevant industry regulatory body will have full transparency and oversight over the system. Now when it comes, the issue of blocking development, whether its in china or here in the us, how much is this revolutionizing the Tech Industry and how much could revel revolutionize it in the future . I mean, in terms of actual block chain technology, the development, this is adding very little to what already exists in the crypto sphere. The only difference here is that its a centralized currency rather than a decentralized one, which means that funds can be frozen and subject to wind, but those in power. Because think think of, its almost like legal market, manipulation. Everything china is currently creating already exists in some form, shape or fashion already. So there really isnt any contribution here. Its merely repurposing an existing tool, a technology for the governments own use in order to increase oversight. So the funny thing is that the crypto ecosystem is actually more efficient because we have validators and node operators that are being compensated for the uptime and Computing Power as the, the gas fees, so validators they actually want to maintain that now work. And theres an inherent economic incentive for them to promote it and secure it, not just for the right cause or whatever, but its a real economic financial incentive here. Regulators and the cyber admin there probably be paid a regular salary in order to maintain that network like any other job. So theyre already bits that the truly decentralized model is shown to be better and less redundant than Something Like this. And christy, i want to move off of this block chain because when, when we get into the world of crypto, we got a pretty interesting story here because a state senator in arizona has actually filed the bill that would make bitcoin legal tender in the state. How would that work . Well, this fellow seeks to add bitcoin to the list of instruments that are considered legal tender in arizona, which would make a lawful medium of exchange. So this would essentially enable citizens to pay debt, public charges taxes and dues with bitcoin. So if inactive citizens could opt to receive their salaries directly and coin and companies that have the complete freedom as to how and when they can use bitcoin. So this bill mentioned quite specifically, not all there, all coins. And there will be a 2nd reading on the senate floor wednesday, but right now, the problem is the Us Constitution might make passing this bill a challenge because there is something called a coinage clause in the constitution. That means the power to determine what is and isnt legal tender in the us is the exclusive province of congress. So if inactive, this bill would be largely symbolic, because back in the 1800. 00 states actually tried to go around the coinage clause by issuing their own state bank. Note these state legal tender, but they had very little success because congress put an end to it very quickly by placing a 10 percent tax on payments made in currency. Although the National Bank notes. But nonetheless, this would still be huge, huge big news for bitcoin. And a similar thought process is also shared in texas as well, where governor candidate happens so that he will also try to make bitcoin legal tender and his date as well. Well, thats fascinating and we know definitely how congress feels about no currencies like going. So we know exactly where that would go. Now when it comes to a nation like el salvador, that has gone ahead and made bitcoin legal tender. When were talking about states in the u. S. Looking at i d as how does that compare to the crackdown on bitcoin that seems to be coming from the bye and ministration. I mean, are they just ideas at this point . Well, i mean, it shows that the client is actually very effective. What it was actually set forth to do, which is to provide Financial Freedom to those who want it. And thats exactly what el salvador wanted to not be completely beholden to the eye enough, which can be thought of as one of the biggest loan sharps out there. 2 countries and also now we have individual states who also want to secure their own freedom from the federal government. America has always had this state versus federal mentality. So it isnt really surprising, but it is interest day that the vitamin ministration feel so threatened by crypto currency that theyre attempting to crack down so hard on it. But at the same time, the stays are actually trying to boosted up who like we said, going get power back to the people. And if this were, in fact, a repeat of what happened in 1865. Unfortunately, the congress, their old methods of putting a 10 percent tax wouldnt really work because bitcoin as peer to peer. So its not like a check that needs to be deposited specifically at a bank because its peer to peer. It would be very easy to find a Counter Party that would accept it. So the federal government and congress would have to find some other sort of work around in order to stop it. And it seems like this would all just end up pointing back to some sort of c, b, d, c, and kind of defeat the whole purpose. After all. Boom, box, chris, the, i, thank you so much and good. And now to se asia, the largest economy, as it reveals its budget for the coming year, india is expected to focus on improving its infrastructure and securing further growth all while it continues to face. A 3rd wave of coping 19th that new annual budget will kick off in april and indias g d. P is expected to grow over 8 percent in the year to come. Now in a recent government report, india says it is set to maintain the spot as the worlds Fastest Growing economy for at least the next 2 years. But in addition to storing inflation, india also continues to see historic unemployment. Now to put it into perspective, an estimated 53000000 people were unemployed. In december of those 35000000 are actively looking for work and 23 percent, or 8000000 of those are women. So how will these factors impact the state of the world . Second most populated economy. Well joining us now to discuss our aria, a professor of indian political economy at Columbia University professor. Its great to have you on the show today. Now lets start with indias government. How are they expected to go about trying to increase growth in their budget for the coming year and what is the current forecast . So 1st about the forecast the current year, which is the ending in march. The economy, the expected to grow 9. 2 percent. This comes on low base because the Previous Year the economy had actually declined by certain point 3 percent. So now this brings the economy back a little bit of all the greek over levels. But for the following year growth prospects. So look pretty good. The forecast and b to be growing at 9 percent before the base effect will not be there. And be in the Us Government in a document just release predicted to a point 5 percent. So thats really going going forward. The budget has still not focused on raising capital expenditures, which would not only been the countries infrastructure, but also provide jobs for many who are unemployed currently. And that should also have been raise the expand it is particularly the private Consumption Expenditure returns. Still being a little bit other parts of the expenditures have picked up, government expended, investment demand has picked up anyway. But private Consumption Expenditure and but sort of reflects in employment which you mentioned. So those are the major kind of broad effects. And now you actually mentioned infrastructure, because theres been a lot of talk about improving infrastructure and in the how much is needed in the nation right now. And does more spending on infrastructure stand to have a Significant Impact on the economy and lower that unemployment as you just mentioned. Well, absolutely in the i need for was because, you know, did not grow for several decades. That thats what ive been 3 or 4 percent that so much of the growth in india has happened in the last 20 years. And therefore also much of the price has also been so india is continuously expanding its capital expenditure. Also government, which is really the infrastructure and then the last to go on the previous interest, 90 percent similar growth will have to happen in india. And some of us spent the private investment incentive exhibits complement. Thatd be with the public expenditure, which is the price of expenditure. And so if being the case, its really, you know, the governments investment spent with the private investment that picks up as a result of investment by the government. Yeah, certainly when it comes to infrastructure, something we talk about worldwide. Now, you mentioned the ongoing Unemployment Crisis there. I mean, were talking about 35000000 people actively looking for work. So just how that is it and how is it impacting indias economy right now . So, you know, during the 1st day of school it had a very severe loss down. This was during march, april, and may of 2020. And that is when the Unemployment Rate really spiked. A lot of people who even lots of Migrant Workers who had lost their jobs, they turned to the countryside. And just since there is been recovery, so the direction is going to be an employment. It has declined by our majors, but state it remains below the an employment rate still is higher than what it was because of it. So that is something richer, again requires basically a big company because Natalie Company is still under me. Returning to pre core, we live in the base basically losing 2 years of growth. Its 2 Years Since School weve been and that is where its and so for employment it is based on me which has to grow. It is not just the government that creates dogs, but the private sector is because the economy is largely as private and it is that part of the these are private sectors that we need to grow much lesser noise. Certainly a lot of stake there and will continue to follow how india is Economy Affairs as the year goes on, professor urban pentagon, Columbia University, thank you so much for your time and insight. Migration and Oil Prices Continue to serge topping 90. 00 on friday and moving on an upward trajectory to start the week as geopolitical tensions and tight supply remain in focus. International benchmark brent crude rose by more than one percent on monday to just over 91. 00 per barrel just off high as seen in october of 2014 well west texas intermediate rose just under one percent to hit 87. 50 per barrel. Brent crude is on pace to gain 17 percent in january. That would be its largest jump in the 1st month of the year in 3 decades. Rising prices arent just having an effect on pocket books of consumers. Either. Chevron is reporting. Busy having its most profitable yours is 2014 having made 15600000000. 00 in net income in 2021. The oil jaya has been able to take advantage of high prices amid the economic recovery, after losing 5500000000. 00 in 2020. At the height of the pandemic and time now for a quick break, but when we come back, spotify, your spacing heat over. What critics claim is vaccine misinformation coming from the platforms, top podcast, host, well discuss it as we get a break here. The numbers of the quote with a, with this is so smart, city is a city thats using technology to make peoples life easier to have beer, collecting a lot of data to try to improve the way things are in theory, these big organizations that are amalgamating and pulling all that data together, theyre not looking at you as an individual, necessarily peoples data being collected or so much data that theres a real possibility of privacy violation. And thats something most of us wouldnt want to wells transparency. But we must live with permanent surveillance. With every country in the world will eventually make big coin legal, tender. The only difference will be at what price we have el salvador, making the move in the 30000. 00 to 40000. 00 range in the united states. That may wait for it until 251015 1000000 coin before they finally wake up with welcome mac. It has been a crazy couple of days for audio streaming platform. Spotify, as the company is based diversity over popular podcasts, joe rogan, and was some people label as coven misinformation. Legendary musicians nearly young and Joni Mitchell pulled their music from the service after taking issue with the content of the joe rogan experience, which became a spotify exclusive. After entering a deal worth more than 100000000. 00 back in 2020. They were followed by several others who do business with the platform, including prince harry and megan merkel, who signed a 25000000. 00 deal with spotify to host who host in produce podcast. Now in respond spot. If i see, opened a blog about the situation while the service announced it would add a content advisory warning to any content that features discussions about cobit for his part. Rogan himself responded with a video poster and instagram saying he agreed with the content warnings and spoke by way he can do better. Im just a person to sit down and talk to people in those conversations with them. Do i get things wrong . Absolutely. I get things wrong, but i try to correct them whenever i get something wrong, i try to correct it because im interested in telling the truth. Im interested in finding out what the truth is. If theres anything that ive done that i could do better is have more experts with differing opinions, right after i have the controversial ones, i would most certainly be open to doing that. And on all of this new spot, if i have stock was up more than 12 percent at points on monday. So what does all of this mean . Well, joining us now discuss is legal and media analyst, lionel in Simon Gallagher entertainment and strategy and investment principal at sbc global. Thank you both for joining us on this topic. Simon, i want to start with you. A lot of critic seem to think spotify is basically choosing rogan over the people making issue of this. Does it all follow the money . What do you make spotify . As response here . Look, i think that the spot fire response has been very measured and reasonable. I think that theyre aware that this is a challenge for all Media Companies, but you also have to recognize that joe is, is essentially a glorified journalist. Hes just there, hes asking questions, he doesnt always get it right. And i think hes also been very forward laney, in terms of saying, hey, i will have a Great Variety of guests on my pod cast that present both sides of the argument. So i think the response from both spotify and job to be thoughtful and measured. Well, its interesting that you call the glorified journalists because we do live in a time where so many people dont trust the traditional media. And so its notable how theyre going to other sources looking for that information. Now, why know, whats your take on the situation . I mean its not like broken is claiming to be a journalist himself here. So what should be expected of him . First, are you telling me that anybody is actually worried about neil young police . Yeah. Or Joanie Mitchell or nills. Laugh grin. Whos an exam . Fear . King of the pan flute bay city rollers come on. What this is, is this was a targeted lesson to tell joe rogan, youre, it, we dont care who you want, but were going to make a lesson. Were going to teach the world that there are certain things you can and cant say. I no matter the platform, no matter where you are, how big you are. If youre the one that were going to target, because were just not the thought police but the thought vigilantes were, they were the truth tyrants.