The Global Pandemic surpassed 5000000 new cases as a lot in america surpassed several countries in europe cases in brazil are still surging the country recorded nearly 20000 new cases its biggest single day spike it could soon have the 2nd highest number of cases in the world its thursday and unemployment numbers are in from last week and still on the rise will nearly all 50 states have at least partially reopen and still 2400000 more americans filed for unemployment just last week that brings the 9 week total jobless claims to more than 38000000. 00 analysts are even expecting even worse numbers for the month of april now russia still seeing its cases surged deputy Prime Minister a top 10 are goalie cova reported the countrys Unemployment Rate has risen by 30 percent since the start of covert 19 the pandemic is expected to wipe out 20 percent of russians disposable income in the 2nd quarter of 2020 well the World Health Organization reported the world record in newly reported cases worldwide this week. We still have a long way to go in despondent. In the last 24 hours there have been 106000 cases reported to doubly. The most in a single day since the outbreak began. Almost 2 thirds of these cases were reported in just 4 countries it has been particularly impressive to see how countries like the republic of korea have built on their experience of murders to quickly implement the comprehensive strategy to find i usually test and care for every case and tress every contact. Meanwhile as europe plans to open its borders italys government is using the coronavirus pandemic as an opportunity to pass the mother of all reforms and to simplify the countrys economy. So we are working on the new decree law dedicated to administrative and your credit simplification which will introduce the many new elements to provide italy with an unprecedented economic shock to kuli in the Infrastructure Sector i consider this reform the mother of all reforms the only one capable of affectively boosting the competitiveness of our country elite can no longer wait for the turn and if we dont succeed in simplifying now in the state of absolute emergency i frankly doubt we will be able to do it in the future look at it from our numbers and information on the crown of iris be sure to check our portable the t. V. Up and look for the section tracking chrono virus. While the country is focused on coven 1000. 00 pandemic its a big day for the battleground state of michigan where President Trump is there now and is expected to visit with or with essential workers that is our teacher and fronsac is outside the white house with more. Michigan has been one of those states that spent at the center of this covert 19 crisis but also they have dams break in they have flooding they have thousands being forced to evacuate from their homes but for the Trump Administration its more about how the state plans to vote this coming november and how the economy will bounce back trump landed thursday afternoon and ypsilanti michigan to tour the ford motor facility detroit automakers headed back to work monday producing vehicles along with ventilators for the 1st time since late march because of covert one team now despite the reopening theres 3 key factors that must happen for a steady recovery in the Auto Industry coronavirus safety protocols the supply chain and the demand and the president was asked yesterday whether or not he would be wearing a mask while he tours the plant which is in the process of manufacturing ventilators to which trump said it all depends thats what michigans attorney general fired back saying if trump did not wear a mask he would not be allowed to come back now because of the corona virus pandemic michigan has considered implementing mail in ballots to which President Donald Trump followed up on tweets wednesday threatening to hold up federal funds if michigan decides to give mail in ballots the green light listen here we dont want them to do mail in ballots because its going to lead to total Election Fraud so we dont want them to do mail in ballots we dont want anyone to do belive ballots out if somebody has to mail it in because theres 6 if theres a reason for thats ok if theres a reason but it does not or we dont want we dont want to take any chances with fraud in our elections also contributing to a downward economy in the mitten state more than 10000 people have been forced to leave their homes after 2 dams collapsed and flooded much of Central Michigan trump says he has sent in fema to help the area but again as far as sending federal funding there is that threat of those mail in ballots now thursday morning Governor Gretchen Whitmer announced michigan will start lifting restrictions that have been in place for months this is protests have been going on at the state. Capitol to reopen whitmer announcing that the ban is now lifted on nonessential medical and dental procedures reopening retail and residents can actually gather in groups of 10 or less all which can start immediately the data has shown that all regions of michigan are ready for us to take small steps forward were doing this incrementally and i have said on multiple occasions this is like a dial returning not a not a switch that we just wont know what those reopening is a white house Economist Says theres been positive Economic Trends and Business Reopening is in credit Card Transactions but a number of economists are warning not to have too much of a positive outlook especially with the white house delayed additional Emergency Assistance but another move by the Trump Administration an executive order to give federal agencies tremendous power to cut regulations that they see as putting a damper on an economic recovery namely the e. P. A. And the department of transportation trump adding he wants to make those cuts permanent even after all things coated or over now President Trump did when the battleground state of michigan back in 2016 against Hillary Clinton promising to bring back jobs but political analysts do say that it all depends upon how the economy bounces back after the covert 19 crisis starts to take a fall or boom bust im fair and fronsac. Stocks dropped thursday as wall street absorbed this weeks gains well one of the concerns for investors are the continued and growing tensions between the United States and china President Trump said the United States would react strongly if china imposes National Security laws for hong kong in response to last years often violent antigovernment protests meanwhile u. S. Secretary of state mike pompei o had criticized beijings handling of the virus pandemic well for their Party Chinese officials said the country it will not flinch from any escalation and tensions joining us now to discuss what is happening markets were joined by boom bust cohost and investigative journalist ben swan and c. E. O. And founder of euro pacific. Peter schiff gentlemen i thank you for joining me today. Thanks very much peter lets start with you treasury yields held pretty steady on thursday this was after the data came out about another 2400000 people filing for Unemployment Benefits last week amid the coronavirus pandemic now the fed and the treasury secretary theyre trying to push forward this 20 year bond to pay for some of this debt whats your take on this. Well the only reason the treasury yields are as low as they are is because the fed is artificially suppressing them if the fed wasnt making this mistake Interest Rates would be much much higher and they could even contemplate selling all these bonds to supposedly pay for all the spending its not going to be paid for the fed is going to monetize it all theyre not going to find private sector borrowers willing to loan the u. S. Government this much money for so many years at such a low rate so the only buyer is going to be the fed which means the American Public is going to pay for it with a diminished standard of living as all this newly created money destroys the value of the money that already exists when i think many people forget that the treasury and the fed work hand in hand and very much together so all the stimulus is coming really from both but but then weve seen a lot of tech stocks really take a dip on thursday after some having you know having had very big days earlier this week what happened here. I think the term youre looking for by the way and the other one is 2 heads on the same monster right about the fed and the treasury but as far as the tech stocks go lets talk about that happy day because yes they dipped a little bit today we saw amazon down i think 1. 8 percent our poll and alphabet both down about point 7 percent and about 3. 7 percent down for netflix but the reality is is that companies are doing fine right now especially Companies Like amazon and facebook that posted their highest record. Growth in history i mean in term. Their numbers so they had their highest numbers ever this week netflix is doing you know ok but facebooks doing great and of course amazon is profiting from the situation were in right now with all these stay at home orders and theres you know talk that jeff bezos could become the worlds 1st trillion there as a result of whats going on right now so tech stocks are doing just fine when they are the ones that have been carrying most of the market throughout these last couple of weeks peter i hear you laughing there there is concern though i want to such over to the u. S. China tensions theres concern that those will only increase as we had toward november its Election YearPresident Trump has blamed beijing for a lack of transparency over the true extent of the coven 1000. 00 outbreak in china and beijing it suggested the u. S. Might be the real source of the Global Pandemic how does this back and forth how is this affecting markets. Well you know i think ultimately is going to have a major negative impact on markets you know were poking a snake in china people i think underestimate the power that china holds member china produces all the goods that we consume and they loan us the money to buy it so there are biggest lender in our biggest supplier and so people dont appreciate to the degree to which the chinese have actually been propping up our bubble economy that the coronavirus is now pricked i just want to mention briefly about these tech stocks you know yes you know theres a sinking ship and a lot of people are crowding into the same lifeboat at least they think its a lifeboat but ultimately all these tech stocks out of weather this storm theyre going to collapse as well in fact thats probably the next leg down is when you see these stocks crack as well what people should be buying is gold and if they want to buy stocks they should be buying gold stocks. Gold stocks a lot of these Precious Metals i know silver and stuff and definitely going up than that theres been a lot of talk about the Paycheck Protection Program that the u. S. Government has used to help these Small Businesses right now a new survey shows a lot of concern from the Small Business owners over the program and even its purpose why is that. There should be a lot of concern look the payroll Protection Program the p. P. P. As its known is kind of a joke look the government came in originally and said were going to provide 10000. 00 to every Small Business out there who applies thats a grant youll get it then you had millions of companies that did it and then the u. S. Government came back and said lets clarify that we meant up to 10000 but you probably only gave get a 1000. 00 per company and thats what most companies wound up getting so i think theres a lot of concern right now for companies that are getting this look the bottom line is is that government is completely inefficient in almost everything that it does and mass handouts of cash it might be the thing theyre most inefficient in and then this case what we see are companies basically saying we dont know what the what the rules are going to be for what we have to repay because just because the s. B. A. And just because the treasury came out of originally and said heres what the agreements going to be and heres what the guidelines will be for repaying that it doesnt mean that theyre not going to shift and have been shifting what those requirements are to have to repay it so what most of them are asking for most businesses are asking for is that this just be forgiven and that would be great if everybody got free money all the time right unfortunately this is the cant work that way and so as a result you have a lot of Companies Taking money from the federal government who dont know what the strings are that are attached to that money and theyre fearful of what it will be and guess what they should be well a lot of them taking the money a lot of them not even seeing at the money either and having to declare bankruptcy and never coming back one more question peter really quick Turkey Central Bank they cut Interest Rates by 5050 basis points on thursday now in a move economists say that was likely. Raised by confidence in the lira how is this different from what we saw just a few weeks ago. I doubt this is going to have much effect on our markets but you know ultimately its the u. S. Dollar that people have to be concerned about not the turkish lira you have a lot of false confidence in the dollar but at some point the bottom is going to drop out of the dollar and you know right now thats the key because whats happening is a Federal Reserve is printing a bunch of money that the u. S. Government is spending and the key is going to be once that money has no value would good is it that the government is spending it in fact the government is doing a lot of damage to the economy right now so theyre trying to keep it running are so is about the fed keeps saying theyre going to do everything it takes we have more on that later today but thank you so much for that peter schiff and thats one. Thank you time now for a quick break but hang here because when we return it appears Federal Reserve officials are worried about long Term Economic damage from coven 1000 well we focus a former u. S. Representative doctor on paul earlier about possible negative Interest Rates and some of the recovery effort as we go to break here the numbers up but. You cant be both with me yet you know what. Im chris hedges the corporate coup detat has destroyed our Democratic Institutions the commercial media is burlesque part of the reality show president s expose the trivia lives seen on contact question more. Of seeing the horrors that arise the money in evil. Corporate criminals who trash challenge whose lives to add just one more dollar to their millions. They threaten they bribe theyll do anything to keep their crimes in the door but the people theyve heard are demanding justice their stories need to be told on americas lawyer. Dear you are thank you for finally changing the channel understand youre tired of networks that are new with you your 200. d today and that. They are not no matter what. You know me d im famous for my views. And the name. Yours truly d scotty now. Im holland cook i invite you to climb with me of the Mainstream Media and from that higher fan to glimpse the big picture question more. Minutes from the Federal Reserves april meeting show the feds deep concern over the krona various pandemic and more importantly what lies ahead if there is a 2nd wave of infections a Statement Released from the fed following their april meeting noted its plan to maintain low Interest Rates for the foreseeable future quote until it is confident the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals earlier today we spoke with former us house representative and author of the end of the fed dr ron paul and asked his take on the possibility of even more stimulus. I dont think the economy is going to recover i think it is going to get much worse and i think the market policies edges on the total insanity of it all so we got into trouble because we spent too much money the deficit for out of control and Interest Rates for gimmick down to 0 and theyre just doing the same thing over again about the other thing theyve added is what is equivalent to helicopter money that bernanke he wanted because they are literally just dropping it by the time load on to the consumer because the consumer today is in trouble and they want to be treated like Business People so everybody gets something its amazing that theres any confidence left at all but so far so good from their viewpoint but no its a sign that theres an end coming i think its going to shift to Price Inflation for the individual i think its already started we already had it but the real inflation over the last decade has be