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tv   Boom Bust  RT  February 25, 2021 8:30pm-9:00pm EST

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making the rest and or trying to stimulate people on the fringes there are people on the fringe in every political party to do something about it so they can then point to all of us and say we're all guilty of what these 2 guys in the pick up truck did we all need to be dealt with this is a short trip to tyranny i am a student of world history i understand how this works they're following a manual that is well known in the 20th century. do you think that america could be in the situation of trumpeting president. i believe trump accelerated it i think the democrats and the left internationally as well as here in america would have always wanted to arrive at a position of something like total power but what happened with trump was the public realized under obama with all the concessions obama made to foreign interests and all the denigration of america that he did in his speeches appearances they realize the country is in danger of being lost politically and the election of donald trump was
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a response to international leftism attempting to take over and run america and dispense with the constitution and dispense with the history and traditions of this country and so now truck gets elected and the union action a lift they keep saying that i mean the political left in america and elsewhere because they're certainly getting help the political left suddenly realizes the patriotic wing of america is not dead that they're fighting back they're voting for somebody else they're threatening the arrangements of the would be tyrants and so this is just the latest manifestation of how the democrats intend to make sure no donald trump like person ever gets elected again and they're trying to intimidate 7580000000 people from voting for another one like that by calling them terrorists and threatening them with treatment at the hands of law enforcement it really is a fast large step forwards tyranny and i think most people don't even realize.
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really quickly i want to ask you where harry is comparisons between the capital riot and 911 do you think that these are justified no the islamist terrorists attacked us many times not just on 911 mail bombs mass shootings all kinds of islamic terrorist attacks nobody on the democrat side ever said we have to look out for these people they're dangerous we better round them up we better do something we better pass a bill and spend some money trying to catch these people instead they made apologies for them and told us it had nothing to do with their religion now they've got christian americans looking at the flag in the constitution and they're treating them as if they were islamist terrorists in america 10 years ago and it's completely backwards they should have gone after those people and they should understand that modern day patriotism is not terrorism and it isn't a danger to the country well thank you so much thought was that dave pockets put on less
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a greater host as always thanks for your insight thank you sir i ask you thoughtful from us of how things are shaping up and be hopeful. according to a new gallup poll over 60 percent of those are just satisfied with the 2 major parties the country is divided politically but the parties themselves are divided we did into this most voters on their part is it finally time to move on from this. i. this is the one business where you can't afford to miss rachel love and then washington coming up australia passes
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a new law cue for tech giants to play to pay for the new content on their platform but that mandatory arbitration clause may not be what it seems a lot here's a game stopper 13 once again after the company ousted its chief financial officer so why are reddit traders up to this time that is the e.u. planning to force in financial companies to abandon london in the post press it era and how will the u.k. respond well this guy we have a lot to get to fill us get started. australia has officially passed a much anticipated law to force tech giants to pay for the news content on their platforms after a fight with facebook led to an unprecedented blackout but while the australian government is calling this compromise a win for the country a number of concerns remain about how it will impact smaller publishers and independent news outlets here's artie's trying
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a child as with the latest facebook is refreshing australia after a tumultuous month that sell facebook pull news from its. platform and protest the tech giant will restore news pages in the country following a landmark agreement with the government experts say more countries may follow the internet platforms need to comply with the rule of law if they're doing business in australia today australia officially implementing a law that forces tech titans including google and facebook to pay local media outlets and publishers to link their content in news feeds or in search results the whole purpose of the mandatory code process has been to give a strong incentive to the digital platforms to do commercial deals with the struggling news media businesses google already striking deals with major australian news businesses in recent weeks including news corp and 7 west media while facebook is promising to pay $1000000000.00 over 3 years to the news industry adding that the social media platform has invested a $600000000.00 since 2018 we're working across the full range of areas where it
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is important to make sure that the rule of law applies in relation to all of the things that we do online with the internet and the hyper vices of modern life the so-called news media bargaining code comes just days after the government introduced some last minute amendments to the proposed bill after fierce pushback from both google and facebook we've agreed to make some clarifications to the code when it comes to the designation process by the treasurer out of a particular digital platform a one month notice period will be put in place the country's unprecedented new law has been vigorously debated in recent months facebook even shut down news pages in opposition of the legislation last week those actions were completely indefensible after serious back and forth australia's treasurer josh frydenberg and facebook chief executive mark zuckerberg finally came to an agreement for facebook has
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really friended astray in return facebook agreed to restore the news pages and lift a ban on. allianz accessing and sharing news australian officials say this new law will ensure news media businesses are fairly compensated for content they generate now many are wondering if there will be similar legislation implemented in other countries already facebook is exploring potential news licensing agreements in canada while microsoft is working with european publishers to push big tech platforms to pay for news in new york trinity child as our take. australia isn't the only country looking to make changes to its laws with big tech in mind here in the u.s. the house judiciary committee is now taking steps to revise antitrust laws following a lengthy investigation into tech giants like google and facebook so joining me now to go further in depth on this topic is international regulatory attorney myles edwards now miles in the case of facebook versus the australian government both
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sides seem to be declaring victory here why do you think that is why bush probably not. a move to a large dollar nation michael royal. your arm. and on the other hand. what we brought. home our global company and her needs. as well. so that all who. has. real rivas hotel keys mall and regional media will but in reality move on and how many that need not involve all in all around the room and the company just mentioned so little. through. the recent book or. yeah it really seems that way and it was
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interesting to see just how much action facebook check on their part i mean cutting off those news pages altogether was a really big step showing a lot of power there now as we heard both facebook and google have been opposed to this mandatory arbitration clause in australia's law that gives the government the ability to determine how much they pay publishers if an agreement cannot be reached now that clause is still in the law but now it can die and can get out of it if they can prove a significant contribution to local journalism as they're calling it is there still some concern for smaller independent publishers that they will be left out of the old altogether moving forward. not murder. of all of them a process that we must overcome all of this. legislation is going through. the arm trenches o.t.s. is not going to the green. the.
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greens are really going to go mano on the sort of the really up to the agreements march need. is the march was law school and regional. solution. form because march was a lot less we're going to really lose hulu. as well yeah that's a really good point now here in the u.s. lawmakers are looking at revising antitrust laws of course with companies like google and facebook in mind and we've seen a lot of talk about holding tech giants accountable here but what are the odds of those laws not only changing but also being in for speed. well you know i think there's a digital competition and i trust regulation less 3 or 4 years the little things that monopolies are looking things out merger form the situation is
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where the very look here in his office that i mean if you look at the size of the google and their employees and to read more than $21000000.00 to the democrats since 2019 and to a lesser degree facebook needed 6 months to have strong lawyers interests and when you talk to mother sherman antitrust laws they got that 8096 the really rather than a lot of the says i really do think there is going to be any changes that have to come from those agencies like this little trick condition of the s.e.c. regulate or the industry itself has gone out to form some sort of solid regulatory organization which launches off. on it so i think legislation will be small and then you bring up a wonderful point. which was in the. sweep was not. just
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a call to sort of a good in who are who because they're always going to bring the person the unconstitutional concerns well yeah that's fair and it'll definitely be interesting to see not only of congress can get those was changed or if they can make a difference there but then of course what happens when you have someone like facebook suddenly saying hey we're going to cut off service if we don't like what you're doing they've really made a point that in australia so far now we're switching gears a little bit last month france made an agreement with google to pay its publishers and right now canada and the u.k. are considering passing legislation similar to what we're seeing in australia now city think that we're likely to continue to see more governments try to at least change their laws to target these big tech giants. neutral colonial years ago. your perris go into another was now with digital colonialism which is even more. than
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a. little more than. beginning so. germany. indonesia odland known. all looking. to things our needs to do with it and the news on the great. cause you're in and you're the cheeky are so not only are we looking at. them but they're also looking not your part let's listen to her cause. and all comes back to power and influence and that's something that facebook and google seem to know a lot about here great insight on this very important topic miles edwards thank you so much for your time. and a story that seems like we're reporting something from several weeks ago once again shares of game stop and amc are up nearly 50 percent thanks to online training and
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wall street groups on reddit game stop shares more than double late and wednesday session and trading in the stock was pas twice i head of the closing bell including for roughly the final 15 minutes of trading so joining me now to break it all down is invesco host and investigative journalist ben swan ok ben we seem to be right back here again so why didn't we see game stock shares climbing so quickly once again. yes so analysts are saying it has to do with the departure of one of the executives of the company who essentially stepped down as a result of an activist investor who's come in and said listen game stop needs to focus much more on its online presence and on building its online audience and so there's been the departure of the c. suite manager who's now stepped down saying about $30000000.00 with him when he goes the claim is that that registers got excited about this news and they decided to come back to it i don't think that's entirely it i think what's really happening
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is game stop the stock was way up about 4 weeks ago as you know it began to come down and when it started coming down what happened wall street hedge funds came in and started shorting the stock again the same thing they got caught doing 4 weeks ago well when they were shorting the stock now all of a sudden you have the wall street bets guys and the retail investors have jumped back in they've started pushing that price up by about 50 percent in the last 24 hours and as a result of that they've already caused about $2000000000.00 in losses for those wall street hedge funds so i think what's happening is because the stock has dropped off so much a lot of those wall street hedge funds decided now's a good time to get back in the short the stock again like we were planning to do 4 weeks ago and they're getting caught again wow so they still haven't learned their lesson and on top of her out of all of the money that that chief financial officer getting it's not 2 a bad pay out there but it is interesting to see how that's the headline that a lot of websites are running with when it comes to this ok so another stock caught
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up in this retail frenzy is a.n.c. entertainment so what's happening there. yet what's interesting about amc is they they've also kind of been one of the favorite of the wall street bets guys you know it was game stop am see a few of these companies amc is doing well they're up about 20 percent over the last 2 days about 6 percent today and the reason for am sees increase seems to be a little more tied to less about shorting the stock and more about recognizing the value in it so a big part of the. it is supposedly new york governor andrew cuomo is announce of they'll start reopening theaters in new york for instance and so the idea is well if that happens in new york it will happen nationwide and more and more people will go you know eager to get out of their house even to some just watching netflix will get out and watch movies and so on the value of the company will actually right so they idea there's a little bit different than the game stop one though again i think when you listen to what a lot of analysts are saying they're trying to go with kind of the traditional this is why investors would get into this it's not why these investors are good in the
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wall street because guys are getting in because they're trying to play the game that wall street plays as a decent realized mass of people as opposed to one or 2 hedge funds that's what they're doing so it is a totally different game and i know in response to the last time around we saw a lot of censorship hitting reddit hitting some nice facebook pages all of these places where these people are getting together and congregating and sort of conspiring to go and do this much like a hedge fund but on their own we saw a lot of censorship there is that concern then that we're going to continue to see that if they keep doing this so what's interesting about vahan glad you bring that up because again because it was being bought right to hurt those short sellers as the value was going up read it and the group the wall street bets group on reddit was positive and locked up so that new messages could not be posted there it happened twice yesterday reddit pretended it was some kind of a technical glitch they were having later on said that they straightened it out but
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didn't explain exactly what it was and why it was happening specifically with this group as this was happening with game stop again this and maybe it's a legit technical issue but maybe it's not in the reality is this happened with with robin-hood it happened with the retail trading sites i would not be surprised if these groups were being throttled on discord and read it in order to prevent them from communicating ok's and not only do you have sort of a cover up in the media coverage of it but you also have a cover up of whatever's going on on reddit they all seem to have this. were you to tell when something like this happened ok i want to shift gears a little bit here to talk about coin got to bring that up with having you on as this digital currency exchange company has now filed to go public and if their appeal that its revenue more than doubled last year what do we know so far about quantum bass yeah so so it's not just a crypto currency trading space i would say it's the crypto currency trading space for people who are new to crypto currency right so for people like me have been
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critical and see for a long time how to do anything with it but that's not a criticism of them it's just they are the most mainstream kind of easy you x. u.i. for people getting involved in crypto for the 1st time if you're on you tube you probably see their ads running there you would have all they do a lot of advertising that i think they were advertising during the super bowl but they had about what 1140000000 was their net revenue apparently for last year that's up almost 500000000 dollars from the previous year and so yes coinbase is about to become a publicly traded company that's what they're filing to do i think it makes a lot of sense for them they are kind of the pay pal if you will of cryptocurrency even though paid house trying to get in the grip of currency so i think they'll do well and i think they're going to be extremely valuable company when they do finally i.p.o. but that's what they're doing right now it makes a lot of sense so many people are interested in the space and coinbase is probably the least scary way of getting involved with a client base is the star that's what gets you hooked on getting into
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cryptocurrency and their friend then you get to get your own wallet and all of that it really kind of they'll certainly be interesting to see exactly where that one goes and what comes out of it ok inside on the big ben front thank you so much for your time. thank you. time now for a quick break but when we come back the bank of england speaking out and warning brussels to halt any plans to force financial companies to relocate to the new euro zone and it could likely one in trolling into the process all the stuff that all men can as we go to break here's a number thought the club. the
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energy the avalanche is stored on the side of the mountain. when all it needs is one still it's like $200.00 lease that catastrophic energy so here you have the energy of hyperinflation is already stored in the system it's already there on the form of the fed's balance sheet they've got trillions and trillions of trillions of paper that is going to come out in a flood and suddenly this will happen in the ability and suddenly purchasing power
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and confidence of the currency collapses and you have a hyperinflation. after decades as the center of european finance london is now facing a new set of challenges in the post brecht's it era following its departure from the e.u. the u.k. has already lost billions of dollars worth of stocks and derivatives trading and it's now warning the e.u. against forcing financial businesses to move within their new borders and costing the u.k. trillions as a result in a speech to parliament bank of england chief andrew bailey said he is concerned brussels will introduce new legislation or special penalties in an effort to force
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banks and dealers to move clearing activities into the eurozone he added quote quite bluntly that would be highly controversial and it would be something we would have to and would want to resist very firmly so joining me now to watch the children board which a board member of the british american business is o.c.a. shit now hillary the e.u. derivatives market is worth 681 trillion pounds are there concerns that brussels is going to take steps to force these financial businesses to move out of london and within their own borders in order to get their maximum benefit from all this while pleasure to be with you rachel and yes and it also in a nutshell they all says yes to expand upon that some want. you just mentioned governor of the bank of india and is very concerned about this on tuesday reuters reported that european banks based in the u.k. had received letters also specifying that they need to justify their existence and
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staying in london but they are to basically relocate into the euro zone this is due to part of the agreement from the court equivalency and that stipulates that by basically mid year of 2022. european banks are to relocate into the eurozone so this is a huge issue and of course wasn't covered and wasn't finalized really under the direct that agreement on it has become highly controversial and yes it is a big threat and that seems to be the biggest question here is that financial services were not included in boris johnson's record agreement with the e.u. so do you think there's a possibility that london could be pushing for an agreement in the near future well i well actually on that note i can't speak for the city of london but i will quote the governor of the bank of england again andrew bailey and what he has said is he said while it would be desirable to have a deal it is not to be at any cost it is not to be and i guess is goes back to you know no deal is better than a bad deal that he would rather have
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a deal but the i understand he's not going to sign off on something that is detrimental to the city of london that remains next to the u.s. supreme preeminent financial services center of the world no deal is better than a bad deal something to remember there so when it comes to the u.k.'s economy we know that financial services are a very important factor contributing to around 10 percent of the u.k.'s taxes does there appear to be a plan in place for what happens if the e.u. does or when it does flex its power and london is left reeling as a result yes actually couple of things recently bogle has reported that 1500 european firms have actually requested to have centers in the u.k. so there's a lot of shift from these european companies that didn't have any center in the u.k. to move there one thing in terms of the london stock exchange though it is the only stock exchange in the 1st stock exchange right now to issue green bonds in terms of
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the new green economy and a lot of companies in china and india all across asia have actually trading in the on the london the stock exchange with these green bonds and i do think the sort of the backup plan is the emergence of on the strength of tech in london. fin tech has taken off and to the extent that london now is just off of the us the 2nd tech financial side of the world wow that's really interesting actually and i know we're all talking about technology right now and that seems to be the theme of this show but also a lot of what's in the news right now now here in the u.s. for the u.s. economy much of the discussion is centered around possible rising inflation and what to do with interest rates now prices climbed in the u.k. point 07 percent from a year earlier but inflation is well below the bank of england's 2 percent target is the u.k. facing similar concerns and how is their newfound independence playing a role well as many things we could cover here rachel but i just want to point to
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something rather immediate rather immediate is that the pound has bounced back to 143 it was as low as $121.00 in 18 we hit the low point off the brics it of course and 16 and really then before coated it has been a roller coaster but i would look out the strength of the pound shows that there is a lot of confidence in the future of the u.k. and i would actually put point to liz trost who is the trade secretary who has completed now just over 60 trade agreements on the move one of the most recent ones is an over $6000000000.00 and it's called the amazonian deal with brazil and that has been finalized so i think that the future plan and the outlook for the u.k. are international trade deals not dependent on the e.u. the strength of the proud the pound proves that the other thing to mention is that the n.h.s. is done and the national health service that is has done an exceptional job of rolling out the vaccine and the u.k. is poised to be right now the 1st country in the world to have the majority of its
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population inoculated with a new vaccine and that is predicted to make sure that the u.k. economy bounces back probably faster than almost any other country in the world interesting that definitely shows that there's a lot for people to look forward to there especially as the u.k. goes off into its new found independence excellent points to consider here hilary ford which thank you so much for your time pleasure rachel any time. and before we go we're getting a look at a brand new look at the surface of mars thanks to this high definition panorama taken by the perseverance rover now these high def cameras give researchers the ability to get a more detailed view of the martian geology while deciding which rocks may be the best for sampling the fan around the stitched together from $142.00 images of a crater and what assad to be an ancient river delta the rover will one day collect samples of this landscape in order for them to be brought to earth for even more
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study. that's all for now you can catch a boom bust on demand by downloading the portable t.v. out for your apple or injury device was here next time and as always don't forget to question more. when a traumatic changes since literally because it's a chemical change in our d.n.a. and this changes the way or genes function. sometimes which in the ration.
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in a day of political upheaval and all media the prime minister's call for elections is rejected by the opposition he also says the minute you must update him up to he's not the armed forces chief saying he was part of an attempted coup. even though you didn't do it to a soldier's soldier says general states do your job god bordeaux's the territorial integrity of our meeting you this is my world and no one can disobey the. clashes erupted as thousands of protesters as well as supporters of prime minister mccall flushing out faced off in the capital of here. on and off the news a shock to be on foot.

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