Pile up in this and the so we break down what else has gone wrong for the embattled Aerospace Giant with molly barrows contributor with americas lawyers we have so much to get to today so lets waste no time and jump right in. As tensions in the middle east escalate over the weekend Global Markets are slumping as investors push toward safe haven gold is at 7 year highs and oil jumped briefly to its highest since september there is fear that any middle east conflict could disrupt global supplies with futures rising 2 percent to 70. 00 per barrel and u. S. Crude climbing to 64. 00 while crude turn lower monday giving up earlier gains it is still posting its 5th straight week of games the u. S. Is becoming less sensitive to Oil Disruptions and price spikes as the country became a net patrolling explorer for the 1st time in modern history analysts have commented that further up sties still remains as iran is almost certain to respond in some scale scope and magnitude and events in 2900 served as a reminder for joe. How the owner of the worlds oil supply is when attacks in september briefly took 5700000. 00 barrels a day off line as the outlook for Oil Remains Bullish for analysts across the board Higher Oil Prices could soon hit consumers at the moment pushing inflation hire a Prolonged Oil price surge could raise the risk of a Global Economic recession similar to that in 1970 s. Saudi aramco shares have now slumped to their lowest level since its record breaking i. P. O. As investors brace for potential iranian retaliation over last weekends assassination of the countrys most powerful general the stock dropped over 2 percent even as the price of oil rose 6 percent since friday as investors are increasingly concerned that iran could respond by targeting saudi aramco a key american ally in the region fears of a possible cyber attack are widespread as a run has strong Cyber Capabilities and it has previously been linked to attacks on major banks such as j. P. Morgan bank of america and wells fargo in 2012 saudi aramco suffered one of the worst Cyber Attacks in history when 35000. 00 computers were partially wiped or destroyed by hackers now while the decline housewife almost 200000000000. 00 on the companys market cap saudi aramco shares are relatively insulated from conflict as many of them are held by government institutions and regional investors who are less likely to sell the company now continues to lean heavily on friendly local investors to uphold its bloated valuation. Joining me to take a deeper dive into these topics and to give us a broader scope of how markets are reacting were happy to be joined by peter schiff of europe a civic. Above the trading thank you both very much for being here. So peter lets start with you gold and oil now are are spiking for very Different Reasons what do you think is the better head right now to this geo political crisis such as iran gold or oil or maybe just simply u. S. Treasuries. Well well 1st of all both gold and oil were moving up before the recent iranian incident so i think those trends are simply continuing i think there is a higher risk premium now being built into both gold and oil for a good reason and i think that risk premium is going to be there for at least the remainder of the Trump Presidency if not longer but i think whats really driving particularly gold but oil to a lesser extent is the fed its Monetary Policy its inflation its to return to q we and the rate cuts and that policy is going to continue so i think both crude and gold are going to continue to rally but as a hedge i would favor gold over black gold now above lets take a look at what we call digital gold this quiet is now also drying biz amid heightened geo Political Uncertainty right now tensions have escalated over the weekend with irans Supreme Leader ali come anigh promising revenge and President Trump warning to iran against the actions now bit quiet quite popular in iran they have been quite popular ever since last year citizens have actually turned to that point to try to evade u. S. Sanctions on the country so how will this escalation affect the coin and how high do you see this pushing. Where you know were still significantly from the highs i mean those were 7520000 i mean the one now you saying about the cryptocurrency is its unrelated to the Federal Reserve is unrelated to Central Banks its not manipulated by them and you cant carry out a ton of gold out of a country if you want to leap versus if you have Digital Currency you can take it with you i think it probably goes back to 10000 i think probably at some bit makes a brand new high i do believe that the Digital Currency is the wave of the future i think thats the wave of beating the fed and all the. Central bank manipulation and things that go on throughout the globe so again i think it goes higher i mean im sure at some point well make a new hire now whether it be a good point or one of the others thats the thats the real question remaining is which one is going to be the major player but at the end of the day i believe that that is the way of the future where were going to see Digital Currency take over not take im told it to go for gold but its going to be in conjunction with gold especially again if you want to actually a country you cant do it with a lot of gold in your hand now paid idea that is going to be digital gold declined by this actual gold. You know 1st big coin is in digital gold at all i mean certainly people that are trying to market bitcoin and getting other people to buy it if they have a lot of bitcoin to sell they want you know to marketed as if it were digital gold but its not look yes big did rally on the coattails of the gold rally just like it did not too long ago when the wind broke through 7 i remember gold and big both rallied but big point quickly surrendered all of its gains yet gold held on to its gains and continue to move higher look gold is being bought as a hedge by investors because it is being bought as a speculation the speculation is that other people might buy it as a hedge but nobody is it is not a defensive asset its not a safe haven bitcoin is probably the most risky asset you could buy and you dont hedge yourself by buying something that has more risk than what youre hedging you have to go to something with lower risk and thats gold now i would say has a lot of i would say that is actually less volatile than many of the theocracy thats currently an existence. Bitcoin is less volatile it is a mile a trial than the turkish. Side of the iran. Its certainly a lot less certainly a city for haven peter listen you have to know it is right and ok gold is good but so is the equity market you know listened to what really goes on quitters are up to 30 times i dont care the thing times so well you get one cant hedge you not get a hedge the stock market by buying big point big going to is likely to go down more than this and i get it just talking about it but i wanted to find out yes you can gold is a good age i guess you cliche that you can start going to gold you be broke if you try to do that every time i mean gold is just you know yes it like how is that true when i look at right now youve got a lot of this is going to are does go back in history guarded and i you got i have got a few different times ive got another segment on this or studied it but lets lets turn to bubba now lets turn to act the actual conflict at hand lets talk about the actual wide ranging implications rather than the assets so lets lets take a look at where we are now we are more interconnected and globalized than ever before what kind of global repercussions are we looking at aside from just the immediate spiking price of gold or oil. Well i dont know if theres any maybe we dont know gosh is going to happen from here i think when you look at the price of gold gold is related and no question was going to rally before this is peter stated earlier gold was already rolling long before i believe oil probably hit near its high but were going to go now again im long or low at the point but im a little bit nervous here i think i assumed it would hit saudi arabia drone bombing highs of september which we have now done so i would not be surprised with oil fall apart from here. Now there will be a chance problem with us as well. The big problem for the u. S. Right now is were more dependent than ever on foreigners to finance our deficits our trade deficits and our budget deficit are going through the roof we need foreigners in the dollar and this threatens that i mean again america is flexing muscles that it really doesnt have threatening sanctions against other nations and i think there could be a repercussion that would really you know hit us where it counts or thats in the wallet because if we get a move out of the dollar you know were not really seeing a flight into the u. S. Treasury market we didnt see a move up of the dollar as a safe haven it was just gold and i think if the dollar really starts to fall thats going to accelerate the move up in both gold and oil but create a bigger problem for the u. S. Economy as Consumer Prices and Interest Rates rise into the next recession and if we end up with in some type of war an actual war in the middle east on top of a recession well thats just going to exacerbate all the problems and peter right now the middle east is in the spotlight but lets not forget about china want china and the u. S. Appear to be signing a phase one deal on january 15th the economists actually had a different take saying that the plan is quote biggest breakup is underway sighs are now being picked up so what is this about. Well remember trump was never able to deliver a substantive trade deal with china i said this from day one phase one is not a deal its really a surrender its a copout its a way for trump to you know kind of say face going into the next election by pretending actually accomplish something when he accomplished nothing i mean the whole Trump Presidency is really pretending things have happened when all weve done is continue the bubble that trump inherited from obama its bigger than ever and i think the boss is going to be much bigger than ever and again thats another reason that people should be loaded up on gold that you know gold stocks have barely moved in fact or even down a little bit this year despite a 70. 00 rise in the price of gold so gold stock investors are very cautious they dont trust this even though gold stocks beat the s. And p. Last year quite handily they beat the s. And p. In 2018 i think theyre going to beat it again this year and in fact when trump finishes his term were going to find that gold stocks were the best performing stocks of the Trump Presidency very few people expected that nobody even realizes thats going on but this is another reason to really load up on not only on just gold but on the gold stocks which i think will deliver even bigger returns well argue about gold and digital gold next time peter schiff in Euro Pacific Capital and todd hearts of public trading thank you both very time. Here. While the chinese trade delegation is planning to travel to washington for the signing of the china u. S. Phase one deal on january 15th many onlookers are not convinced chinese and hong kong stocks solid shard props an afternoon selling on fresh worries about the relationship between china and us this comes as new reports revealed that the Trump Administration since 2018 has mounted an Extensive Campaign to block the sale of dutch Chip Manufacturing Technology to china now this is a high level push which previously has not been reported show. The effort and the lengths the white house goes to in order to prevent china from getting a hold of the vans technology from microprocessors that compan began in 2018 after the dutch government gave semi company a license to sell its most advanced machine to chinese consumers now over the next few months u. S. Officials attempted to block the sale outright and held at least 4 rounds of talks with dr officials with no way to block the sale directly the trumpet ministration then pressured its dutch ally to consider the quote Security Issues the pressure appeared to work as the dutch government soon after decided to not renew the s. M. L. Export license and that machine has not shipped currently only a few companies are capable of manufacturing these sophisticated chips including intel Samsung Electronics and taiwan semi but china has made catching up to those companies in chip making technology a key National Priority and is of investing tens of billions of dollars in the near future in this effort this latest development as concern on sino u. S. Relations as investors previously were under the impression that the trade tensions would ease Going Forward that appears to be not the case. Time now for a quick break but hang here because when we return wildfires continue to rage in australia as its east coast continues to be ravaged correspondent john hardy is on hand to break down how the nations business has been affected by the blazes and later boeings woes continue as their problems. In this at the breakdown what else has gone wrong for the embattled Aerospace Giant mollies their own contributor to americas lawyers and as we get a break here the numbers that the. It is physics physics is nothing but the harmony who can create on vibrating strings that is chemistry chemistry is the melody the melodies you can play on strings what is the universe the universe is is a symphony of strings. Reality has mandates of its own that go beyond what our wishes and preferences are. And our utopian visions may be were going to get a new deal but it may not be the Green New Deal that people are expecting will get the Green New Deal that we have we deserve rather think we are going to get a Green New Deal because the Green New Deal in compass is things beyond just right infrastructure healthcares in the new deal there are other elements if you go back 20 started in 2006 that we are going to get and that are popular in this country. Good food descriptions sound up to tell using even for the owners so how to choose pet Food Industry is telling us what to feed our pets really more based on what they want to sell us and was necessarily good for the pet turns out may not be as healthy as people believe we have animals that have you know diabetes in our stride they have auto immune disorders allergies we are actually creating these problems its a huge epidemic of problems all of them i believe can be linked to very 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 1000000000. 00 on it and theres no reason to do that research. Join me every thursday on the all excited with and ill be speaking to us of the world of politics. Im sure ill see that. Wildfires continue to rage in australia as rain and cooler temperatures are bringing some relief to the devastating flames the blazes have attributed to more than 20 deaths so far with many more people missing and hundreds injured r t correspondent john he joins us now live from miami with more on the ongoing situation in australia and the economic toll the fires are having so john what are the australian officials saying today about the damages and how much longer will these fires continue. Yeah well the damages immense as you mentioned theres been rain and cooler temperatures right now that have helped firefighters several 1000 as they continue to battle these brush fires bushfires but the situation overall remains dire its having a huge economic effect and you know that aside from just the human aspect to this all of the millions of people that have been evacuated and those that have at this point lost their lives if you look at a fire map of the country which has been compiled by the government of Western Australia basically showing in real time where the fires are burning right now as we speak it really gives the size the scope the scale of the overall situation with more than half of us of australia on fire at this point and many of the fires are less than 12 hours old fuel by you know dry extremely dry conditions Drought Conditions high temperatures and you know the warm weather weather and also strong winds and while the weather at this point is helping to play a part in calming down some of the broad brush bushfires the rain and cooler temperatures along with all the firefighters that are involved dry and hot conditions are expected throughout australia again going into this week and thats not a good forecast as millions of acres have burned thus far with many of these fires raging in queensland and New South Wales and victoria in fact officials in New South Wales said this morning that 69 fires remain contained with a total of 136 fires in the state and warned that the fires could continue to burn for months to come possibly into march even april to give you a little more perspective take a look there are a couple shots that we got from space thanks to our friends at the International Space station who tweeted various pics and one was taken on january 3rd showing smoke surrounding sydney and sydney harbor in australia another picture taken january 1st shows thick smoke. Basically blan