A psychological standpoint as well the message that it would be sending to the rest of the world china more of our debt in the United States than just about any country in the world so what 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 as 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 all these questions here on the news with rick sanchez where we believe it is time yes it is to do news again. All right heres the list of the questions we think hell be asking what will happen if china sells off the u. S. Debt can a protest go too far and should you be fired for how you protest and what is the history of barricades and Law Enforcement around the white house but we begin with what is a blockbuster of a story china is finally going through with it theyre beginning to sell off more than a trillion dollars it own of the u. S. Debt our debt so why are they doing this and what does it really mean were going to drill down on all of this but were going to give in with a party boom bust host ben strong and this explainer. 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 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 as of wednesday afternoon the fed is now. It will not pursue that policy of negative Interest Rates at this time but the discussion of negative Interest Rates has been going on for several months now 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 so is simply purchased by other countries for instance in august of 2015 china reduced its holdings of u. S. Treasuries by about 180000000000. 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 and been swan. And good enough to join us live to take us through that shes going to be joined with George Galloway so what were doing with both of these guesses were offering you the business perspective and the political implications of this story but 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 what is the beginning of china that is creating or competing and making their own currency at some point in the future if that can you confirm. Matt 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 an 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 and they are looking for ways out of it 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. Of course if the u. S. Government and the treasury are cheapening the value of the dollar for the reasons that ben outlined the means that they are holding is one who less. Than it would be to. Have no confidence in the long economic again. Amongst countries like china preeminently china they are able to do it themselves they dont have to be on the of the agony of the us dollar which is being used for political purposes but i guess money is used all over the world for political rather than economic. And the other countries are getting tired of china and russia see america now it is as a hostile act up in europe as are not nearly as friendly as it used to be and for all these reasons. To shift that 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 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 can i do right now are they right. Well i think theyre right 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 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 but 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 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 that 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 and 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 protester is across the street from a black lives matter 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 man have been fired from his job should he be burned penalize actually even further than just to lose his job or not at all your questions americans are asking here now the facts of the story with our correspondent trinity each of us. 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 online smatter. The video shows. 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 x. Minneapolis officer derrick show than it did while he was arresting george floyd on may 25th floyd later died in Police Custody the video quickly going by are all 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 the shipping company condemning the video on twitter stating the 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 try to upset the demonstrators reporting in new york Trinity Chavez are taking by the way coming up were going to have a conversation about protests in general and whether are or are not going too far with one of them by calling one to our colleague larry king this is that theres a direct address there watching our special coverage on portable t. V. Or on regular t. V. And we will be right back stay right there. I. Know. No shots. Action. Well its true no 1st. Point should 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 lodz see on contact question more. Seeing the horrors that arise with money and evil. Corporate criminals who trash calculus 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. Ready to. You know me d famous for my views. Yours truly ready. Now. Im holland. And from that higher vantage to glimpse the. There is breaking news coming into us right now from the sports world and interestingly enough its a follow up to a conversation i had yesterday with steve christakis just moments ago nascar officially announced that they will ban all confederate flags from properties and races this season so you know one of the rebel flags of all nascar events that are the minutes ago they decided to officially do it and yesterday we said it could come in the next 24 hours and 24 hours later here we all have to understand that is a very prolific at most nascar event yes its very prevalent many nascar has many fans are going to there is going to be a lot of backlash from a lot of nascar fans on this but you know it but its but it was the right thing to do but many many many people in the United States and most notably africanamericans by hadley horribly offense yes because our lets go to m. L. S. M. L. S. Now and some positive news here. Are noncontroversial news i guess would be the m. L. S. Is back tournament was announced now its going to be a world cup style tournament beginning on july 8th much like the n. B. A. Theyre following that format doing it at the wide world of sports and disney world but all 26. 00 m. L. S. Teams will participate because they were only 2 games into the season now lets go to some of the key points of this now there will be 54 total matches 26. 00 match days it will be group stage for. By round of 16 quarter finals semi finals championship match and the key dates are the teams will arrive june 24th of july 8th that will kick off with the group stage and then round of 16 july 25th july 30th quarterfinals semifinals august 5th and 6 in all wraps up aug 11th with the championship match that will start in june and it ends in august with the jets real quick if players allowed to kneel to make a point about the protest will the m. L. S. Let them do it you know m. L. S. Is unlike the n. F. L. Who didnt what was a really clear on their stance on that although the players say they are going to be doing that this year nearly during the epidemic lasted come out with a statement saying that Major League Soccer stands by the ideals of freedom of speech and right to peaceful protests that are the hallmarks of the United States and canada if players or staff decide to stand kneel or otherwise exercise their right to peaceful protests during the playing of any National Anthems before the games they support them fully they will support them so thats that pretty strong so now olympics i understand that theres some movement or finally something about the olympics are we going to have it ever going to go on well thats to be determined obviously we do know its postponed till 2021 summer but if there is a vaccine in time for the coronavirus then they will go on but if not they will be cancel completely however lets say hypothetically they do go on yeah now the International Olympic committee is also segue into this now from what we were just talking about the nearly during the the anthems or during podium. During which when youre you know being recognized for winning a medal. Its mostly in the ceremony or ceremony basically the ceremonial parts of it and the opening and closing ceremonies but mostly on the podium they dont want athletes kneeling so today the president thomas bach actually came out to present the i. O. C. And he stated that they are working with athletes to on this issue and they are easing the ban that they put in about 5 months ago they did ban all political protests from the olympics that were supposed to be in tokyo this summer but now he mentioned about next summer and heres what he had to say check it out. It would go to a preemie. The navy we. Patients the mission. With so many athletes that representatives around the world think it would not be fair if you make a statement. There or giving directions or even instructions in this respect you know and they did the main thing is they dont want any political or divisive you know stance to take place stances on the podium in front of the world on that stage but now the athletes are many of them are going to want to you know express themselves however they want whether it is merely a raise in a face to what again in 1068 at the mexico city olympics i know who youre talking about black power john carlos to the athletes from the United States went up there and they held their wrists their fist in the air and youre right it was not received well it was not fact they were suspended yes yes they were so you know see hopefully they ease that ban back as well yet its an interesting question doesnt belong in sports i think it kind of does sometimes it depends on the issue of greed thanks good stuff boy a lot of news breaking in the world of sports im so glad that we have you Something Interesting and almost troubling is taking place in what has come to be called as the peoples house in america you see the white house is a place that is leased by us as a citizen of the United States to its occupant the president the United States and we change him in and out every 4 years he doesnt own that building its not really he is it belongs to us the people so for a century its been open to the public last and the last unfortunately you see over the years the walls have started to close in on the white house and now the walls have gone up. The white house is no longer accessible look at that picture that rings the entire white house and were talking about acre