Of the world china more of our debt in the United States than just about any country in the world so why would they be doing this right well think about it so just today as we reported here as breaking news about an hour ago the u. S. Federal reserve came within moments of being pressured into lowering Interest Rates below 0 in the end they pulled back from taking them into negative territory but even that build up of what they might do was significant significant enough so china is worried that when you combine what the fed has already done in buying back bonds and pouring billions into banks in printing 2 trillion dollars to pump into a sputtering economy in the United States what you have what you have is the makings of a weaker dollar a weaker dollar in other words as berts describe it the currency will be devalued. And what china is essentially saying is we see a storm coming and were going to start getting out getting out of the way while the getting out of the way is good so what does this what does this really mean for the Global Economy right who wins who loses and how is this going to affect you and me and the rest of us were going to tackle these questions here on the news with rick sanchez where we believe it is time yes it is to do news again. Heres a list of the questions we think were going to be asking to morrow whats going to happen if china sells off the u. S. That kind of protest go too far and should you be fired for your protest and what will come of the global trend to take down quote offensive statues but were going to get what is really a blockbuster of a story from a global perspective from an Economic Perspective china is finally going to begin selling off the more than a trillion dollars that it own is of u. S. Debt or a part of it why are they doing this whats it mean this is where we try to explain to you and what were going to do is begin with our tease boom bust toes ben swan in this explainer that we should tell you he prepared prior to the announcement that the fed would keep Interest Rates at 0. The u. S. Federal reserve in this printing of u. S. Dollars is resulting in a new consequence from one of the largest holders of american debt were talking of course about china according to new reports china which is the 2nd largest foreign creditor has decided to not wait for the devaluation of the u. S. Dollar and is actively selling american debt keep in mind during the 1st quarter of 2020 the fed printed more than 2 trillion dollars with more on the way last year china got rid of 110000000000. 00 in u. S. Treasuries and within just the past few weeks they have dropped another 10000000000. 00 aside from the massive printing of u. S. Dollars another major issue for the chinese has been talk of the fed moving to negative Interest Rates now if this happens it would be the 1st time the u. S. Has attempted to go negative and that alone is raising big concerns for those who are holding u. S. Debt according to Standard Chartered economists the federal funds rate at minus 0. 5 or even minus one percent will result in a significant drop in Government Bond yields which would facilitate washingtons debt service the concern from the chinese is that those negative Interest Rates will not benefit the value of the dollar and that u. S. Currency as a result will inevitably become cheaper to keep in mind american debt is a widely held and extremely desirable asset in the Global Economy whatever debt china does is simply purchased by other countries for instance back in august of 2015 china reduced its holdings of u. S. Treasuries by about 100 80000000000. 00 despite the scale the selloff did not significantly affect the u. S. Economy but the difference between 20152020 well there are 3 major differences number one were talking about the incredible amount of liquidity the fed has poured into the market just this year alone number 2 an attempt by the fed to go to negative Interest Rates and then number 3 the issue of a Global Pandemic that has devastated economies around the world for the news with rick sanchez. Thats a report ive been swatted. Good enough to join us live to take us through that shes going to be joined with by George Galloway so what were doing with both of these guests as were offering you the business perspective and the political implications of this story ben i want to begin with you look i just called around some of my sources and when i asked them why china was doing this what they told me is that china is tired of seeing the dollar as the worlds only currency and that this is just the beginning of them china that is creating or competing and making their own currency at some point in the future if that can you confirm that and explain that to us yeah i think thats thats absolutely true i was the one thing i would push back on is the fact that they said this is the beginning i think you can go back 5 years 6 years and say the beginning really began when china russia india and south africa began working together as brics and brazil began working together as the brics nations and that was the real 1st move i think to say were going to get rid of the u. S. Dollar as the worlds reserve currency china doesnt like it and other nations dont either because it puts them in a politically disadvantageous position and economically disadvantageous position and so what were seeing right now is the continuation of that effort and certainly china is not going to hold u. S. Debt forever theyre going to sell it off when they can as we mentioned in the piece in the past theyve done this but never to the extent that theyre pushing for it now and certainly not at a time when the u. S. Is doing so much to devalue its own currency you know we are not a business show we are a news program the news with rick sanchez which is why we see this particular story as one with vast geo political implications can you take us through that George Galloway. Yes of course the dollar was king for a long time people dont like to be ruled by foreign kings they are. Looking for ways out of it there are various ways out of it russia and china for example have been very big buyers of gold over the last few years making sure that they have their own reserves and of course if the Us Government and the treasury are cheapening the value of the dollar for the reasons that ben outlined then that means that the debt that they are holding is one who less to them than it would be to a so its of no confidence in the United States long Term Economic again money and its of all of confidence amongst countries like china preeminently china they are able to do it themselves they dont have to be and of the agony of the u. S. Dollar which is being used for political purposes but i guess money is used all over the world for political rather than economic purposes sunday the other countries are getting tired of it china and russia see america nowadays as a hostile act up in europe they see it as an octo not nearly as friendly as it used to be and for all these reasons ill be aboe to shift the debt if china starts to sell it but let me go back to you with something my sources told me when i was speaking to them this morning they said while china wants to do this theyre not going to be able to do this for some time because they d dont have the infrastructure and i think what they mean by infrastructure is the bond market thats capable of moving lets say a trillion dollars which the United States can do china cannot do right now are they right. Well i think theyre right but i think china is doing a pretty good job and i say good not necessarily because its good for the United States but certainly its its good for china is china is moving in in a different direction here with what theyre essentially trying to do is move into a position where they can put themselves head of the United States by developing relationships with other nations by developing relationships with infrastructure and other nations loaning money to other nations becoming a bit into the world in a way that the u. S. Has not been in the past and thats a huge part of this so as we move forward one of the things we have to consider is what is the u. S. Going to do to respond to this the u. S. Has been frustrated for some time by the concept that essentially china is going around the world and loaning money to other nations for infrastructure builds theyve been moving in this direction so thats why im saying this is a step in a staircase that essentially gets china and the rest of the world off of dependency on the u. S. Dollar as a reserve currency and i got to say this rick its important for american viewers to understand the significance of this because we have no generations of americans left really essentially none left who remember a time when the u. S. Dollar was not the worlds reserve currency we have become to the point of assuming its always been this way its only been that way since after world war 2 and yet we act as if it is a foregone conclusion that i will always be this way and it very well may not be George Galloway i see you shaking your head i wish i could continue this conversation i know but you have a lot to add but we have got to move on my thanks to both of you really important conversation that i think the whole world needs to be in on as well. George galloway once again thank you very much meanwhile this story in what is a bit of a shocking counter protest today against those who have been protesting the death of george floyd a group of demonstrators in new jersey. Well they may have gone too far im going to show you an image here and let you decide for yourself the counter protestor is across the street from a black glove not a protester mimicking the killing of george floyd hes communicating a message one that no matter how vile you may interpret it is protected by the 1st amendment of the constitution of the United States should the may have been fired from his job should he be paralyzed actually even further than just to lose his job or not all your questions americans are asking here now the facts of the story with our correspondent trinity. As black lives matter protest against Racial Injustice continue across the nation some counter protesters in new jersey are sparking outrage after mocking the death of george floyd next to an all lives matter and flag the video shows 2 brothers now identified as jim and joe de marco reenacting floyds death while a group of black lives matter protesters marched past them jim allegedly the one kneeling on his brother joe as acts minneapolis officer derrick chauvet did while he was arresting george floyd on may 25th later died in Police Custody the video quickly going by sparking outrage coast to coast joe de marco now suspended from his department of corrections job while his brother jim de marco has been fired from his job at fed ex the shipping company condemning the video on twitter stating that behavior depicted in the video which involved a fed ex employee is appalling and offensive fed ex holds its team members to a High Standard of personal conduct and we do not tolerate the kind of appalling and offensive behavior depicted in this video the individual involved is no longer employed by fed ex we stand with those who support justice and equality meantime the new Jersey Department of corrections said it suspended one of its employees after confirming he was among the group that taunted and tried to upset the demonstrators reporting in new york trinity charges. By the way coming up were going to have a conversation about protests in general and whether some are or are not going too far with none other than my colleague longtime colleague larry king this is the news of rex sanchez theyre watching our special coverage on portable t. V. Or on regular t. V. And we will be right back stay right there. Ah no team no crowd. No shots. Actually felt. A strong note the 1st. Points your thirst for action. Im chris hedges the corporate coup detat has destroyed our Democratic Institutions the commercial media has been less part of the reality show president s expose the trivia see on contact question more. Ive seen the horrors that arise the money in the evil. Corporate criminals who trashed countless 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. Year thank you for finally. Understand youre tired of Networks Learn new. d things and. As. You know me d im famous for my views. Yours truly. Im holland cook i invite you to climb with me of the Mainstream Media and from that higher fan teach to glimpse the big picture question more. Meanwhile today the buzz continues over another apparent case of i cant breathe but this new video it shows a suspect telling police he cant breathe before he dies after a chase where he failed to stop when police told him to pull over but heres heres the real story here heres the real controversy here now it turns out that the Police Officers who pulled him over and were essentially then well that may have played a hand in killing him. They were essentially actors they were in a t. V. Show the t. V. Show is called live p. D. And these Police Officers have been on the show many times the has now pulled the show off the air by the way cops has now been pulled off the air as well because of this and the suspects mother says that her son died so that some Police Officer could look tough on t. V. Well her words. Show live p. D. It shows Police Officers confronting suspects on television all the time many of these suspects oftentimes minorities or or poor people here with the details of the newest i cant breathe controversy is our tease natasha suite. The same words spoken by george floyd of minneapolis last month were the same words uttered by Javier Ambler last year ambler also warned deputies of other Health Conditions as they repeatedly taste him. Ambler who was 400 pounds at the age of 40 was coming home from a poker game with friends according to media reports the Williamson CountySheriffs Department attempted to stop ambler for failing to dim his headlights he did not stop deputies chased ambler for some 20 minutes into north austin youre watching Police Body Cam footage from an austin Police Officer who arrived on scene and car crashed in this encounter you can hear the deputy continually tasing ambler the deputy j. J. Johnson who is also black in featured regularly on any flight p. D. Show tells ampler to get on his stomach and he says that he cant breathe after authorities find amber unresponsive the attempt c. P. R. Until paramedics arrive on scene later ambler is pronounced dead Margaret Moore the District Attorney for Travis County says an investigation is underway in the case will ultimately be heard by a grand jury. Is just another all highly offensive is going to start being considered. For me. Not going to start to explore it. Answers death was ruled a homicide the report made to the state Attorney Generals Office indicates the homicide may have been quote just a fireball the autopsy reveals ampler died of congestive Heart Failure her pretense of cardiovascular disease in combination with forcible restraints reporting for the news with Rick Sanchez Natasha sweets r. T. Meanwhile theres this this buzz continues over another apparent case of whats been happening in this country and this video that weve been telling you about continues to show the same thing. What were doing now is were trying to create. A story about whats coming in the future Police Officer saying they cant breathe before he dies after a chase where he failed to stop but the real story here is about what else is going on not just in the United States but all over the world as a matter of fact. What we want to do is time to have a conversation about whats going on not only here in the United States but really all over the world because this is a situation where to say the very least its a complicated issue yesterday they took down the statue of a slave trader and then they defaced a statue of Winston Churchill now i want to show you something take a look at what happened today 2 statues of Christopher Columbus in boston a statue was decapitated and in richmond today they defaced the image with red paint of Christopher Columbus you see it right there so joining us now to talk about all of this is my longtime colleague larry king who joins us to discuss whats going on in the world this idea larry i want to get your take on this idea that we should literally take down statues that represent people or places in history which way might we simply disagree with we dont like what do you think of that. As a diversion disagreeing in whats moral statues of confederate generals or out of place in my opinion. Was fought its over we are su