Is confirming today that its going to be testing a mobile app for storing and exchanging the on not as a paper entity by the way but rather as a digital entity like for example. The world learned about this when this screenshot appeared on social media take a look at that right there see it you can see there from the image that this appears to be sort of a Marketing Tool to get citizens chinese citizens comfortable with the idea of using and trusting Digital Currency now its important to mention that china is stressing that this really is quote only a test but is it and if it isnt why are they so i head of the game at this point forbes right forbes one of the worlds leading business periodicals is warning the white house right now that. Up and ministration not to continue its present course of banning and attacking cryptocurrency in fact let me show you this recent headline from forbes it says quote why try should unveil a us answer to big coin to rival chinas digital one should the white house he that advice so what are we going to do were going to have to break this story down for you right here on the news with rick sanchez where we remain convinced that stories like this show that it really is time to do news again. Is the list of the questions we think youll be asking tomorrow is the United States making a mistake by not competing with china and Digital Currency what are global bankers doing about unpaid mortgages and other loans well tell you and why did an opinion editor quit and call out her employer the New York Times 1. Lets begin with the question of what china is doing and why it may be critically important to almost any and every person who uses money to Exchange Goods and services this quotation supposedly uttered by Meyer Rothschild in the 1700s my best to explain the story and im going to give you the quote he who controls the money controls the world right now the u. S. Really controls the money but china is buying for that control and testing Digital Currency may be some say a step in that direction lets begin today with r t correspondent ben strong. Well thats right rick b. P. B. O. C. On the peoples bank of china is moving forward with testing out its brand new Digital Currency the 1st major test of this Digital Currency and yes it appears that it will be done through a very Popular Food Delivery Service called mates one is one of the largest apps in china with nearly half of a 1000000000 users it is owned by chinese tech giant 10 cent and it has about 65 percent share of the market and this makes. Perfect testing ground for trying to central bank backed by Digital Currency its a project has been underway now for over 6 years chinese authorities are pushing to have the Digital Currency fully operational they say and then use by 2022 for the olympics that will be held in china a place where they can showcase to the rest of the world this Digital Currency still a lot of questions about how this Digital Currency will work in comparison to actual crypto currencies we do know this that the chinese currency will be linked to a holder smart phone number and transactions will take place through it and that been pretty interesting here reg reports indicate that not only will you be able to use an app in order to buy and sell in Exchange Using this Digital Currency but that the technology will be designed in such a way that you can actually tap your phone to another phone in order to make a transaction the idea is to simulate. Process of paying with cash handing cash back and forth between 2 individuals but again all of this on Digital Currency and all of that happening through a smartphone for the news with rick sanchez. Thank you so much for always so good at being able to put those stories together and explaining them to us from our joined by Chris Christies a market analyst on the cohost of boom bust here on the r t america chrystia i think you probably heard the quote that i read from Forbes Magazine where theyre warning the United States specifically the trouble theyre saying look you know stop calling out everything out to do with Digital Currency is a joke stop attacking it and instead you should be jumping on board they were right theyre absolutely right i mean chinas progress towards testing and launching its Digital Currency has only gained momentum during this entire pandemic crisis so now for the u. S. That means that they have even fallen further behind as they have pretty much already lost the battle over 5 g. And right now this entire thing this threatened the u. S. Is financial dominance because the pressure is on for the u. S. To also respond and to create their own form of central back to the currency because if china successfully launches this c. B. C. It could result in the Widespread Adoption of this digital r. And b. To be used in emerging markets economies and International Trade so country it would actually no longer be beholden and dependent on the u. S. Dollar for trade. Is the chinese populous or for that matter any populace anywhere in the world ready for Something Like this that is so revolutionary how do you get people to suddenly start using Digital Currency instead of their credit cards and their regular cash that theyve been using for the last so many hundreds of years i mean that is kind of why i stressed emerging economies to begin with because that is actually the economies that are most comfortable with using things as digital kind of Digital Currencies such as china and such as india countries emerging economies with large populations of the. Banks people people who dont have access to a bank account who actually dont own credit cards who have never own credit cards but every single one of them own mobile phones all of them are connected to the internet and because of that all of them have been using accounts such as things similar to pay pal cash than most things like that where you transact digitally not necessarily with a bank account this would just be another form of legal tender that china is offering so its a central back to jail currency within a digital wallet that all the citizens are already very accustomed to using in china people already accustomed to using calley pay and hourly bucks which are very similar to pay pal and pay pal so they already familiar with how to pay digitally this is just taking a step further and making it so that instead of issuing out alley bucks which is specific to only alibaba companies this is going to be legal tender issued by the central bank which is going to be accepted everywhere countrywide seems like forbes is right that you know its something that if nothing else we need to be keeping an eye on and maybe either investing in or competing with china in this endeavor thanks so much chrystia as usual doing a great job explaining these types of stories to us we appreciate it. But stay in the tech world if we could for just a moment there was a twitter how to report involving the former president a former Vice President 2 of the most well known billionaires in the entire world. Joe Biden Barack Obama muska bill gates were compromised wednesday what appears to be a big scam the attack is likely the largest ever on twitters Security System and may have already cost users tens of thousands of dollars joining us now is a lot of all of lidle media to talk about this remarkable story thats really just now coming into us it sounds like they were using the names of these famous people to essentially do commercials for some guy who was trying to. Bill for money from people on twitter i guess right. I like the way you call it do commercials or him well no this was one of the quick and by the way you know rick im not supposed to ever are act gleeful when somebody pulls off a scam but theres this sick part of us that whatever we hear about the bank robber or somebody who gets away with it we think well thats wrong but what he did was he happened to pick lees people but not just anybody this is due to cream of the crop the blue chip blue check literally group of people and he didnt hit other people but he didnt hit the trump account wait a minute do you think. You think rick theyre going to try to suggest that this was some kind of a a a a a trump method to all the hack in leaves people prominent democrats the Presumptive Democratic nominee now that couldnt be but what this really does it really goes to the notion of security and there is nothing that wall street hates more forget the implication of this then for these folks to be able to say you cant if you cant control if you cant protect with his double triple ways of securing the accounts what checking your phone and checking your email if you cant keep their account safe who move can you protect the last time this happened was a famous hacking of twitter before people they hear were Britney Spears barack obama night fox news and c. N. N. Anchor rick sanchez. Wait a minute hold it i remember that in fact like i remember he called it the day that music died and the people were black armbands for weeks but think about this literally i mean literally the last time they did a major twitter act im reading from times Washington Post wall street journal i mean everybody covered the story how in the hell i ended up in the same in the same story with Britney Spears and barack obama on fox news i dont understand what they chose you dont see the connection what you dont see the connection between you and Britney Spears. I guess obvious dont if you have it but let me but but but but all seriousness aside as we used to say yes it is this is not just a she is not clever when twitter and facebook is seeing the Gold Standard that they have to maintain a security that you cant predict thats exactly. Thats exactly what we do for the real problem here is how did they do it might they do it again and what might they do next time were talking about a serious and theyre possible yeah right hand man i always enjoy the conversation a little appreciate it thank you my friend. By the way this is the news with rick sanchez and youre watching our special coverage when we come back opinion editor for the New York Times says that shes had enough problems are being. Explained it to. Please. Liz. Liz something for you on your sports h. Q. Oh you. Take a bite. An ocean of stories even the news. Can overwhelm you. Your way i know you want to let me bring you back. The questions. Number. And lists as this. Brings all the. Deaths. In question. Im a journalist its all i know being a truth teller people say i make among come from good news is like a jackhammer good drill down they find the truth news with rick sanchez because its time to do news again and question more. I like it when the hosts ask a question for the guests and then actually listens to the yes answer and then react to that its a folks Dennis Miller here ive got a new show. Theyre welcome back im rick sanchez more and more information is being released about former Jeffrey Epstein fixer Glenn Maxwell now remember maxwell has been accused by many of the women who epstein raped they say she was an accessory that she was even in the room sometimes and kind of took part as sick as that may sound that is why all of these new details about her as she awaits her new trial are getting a lot of attention and putting the latest revelation that she may have married all married r t correspondent john harvey has more on the store. A federal judge denied bail for killing maxwell who pled not guilty to the charges of sex trafficking and the abuse of minors during a hearing tuesday this is prosecutors revealed that maxwell is secretly married though she refuses to give the name of her spouse to investigators another bombshell in a case that continues to drop bombshells sordid as they may be matched well according to officials posed as a journalist using the alias jen marshall who along with a man described as her husband purportedly a retired british soldier and author named Scott Marshall but the 1000000. 00 New Hampshire state or federal agents arrested maxwell july 2nd assistant u. S. Attorney allison moe told federal judge Allison Nathan during tuesdays hearing quote in addition to failing to describe in any way the absence of proposed cosigners of a bond the defendant also makes no mention whatsoever about the financial circumstances or assets of her spouse whose identity she declined to provide to Pretrial Services maxwell has been linked to tech company c. E. O. Scott borgerson who according to various reports left his wife several years ago for maxwell whod been staying with him at his manchester by the sea state as recently as last year its perhaps one of several dozen places maxwell has stayed in the past year according to prosecutors maxwells lawyer mark owen said it was an effort not to evade federal officials but instead to protect her privacy from the media and for her personal safety but judge nathan wasnt buying it denying maxwells request for 5000000. 00 bail agreeing with prosecutors that she poses an extreme flight Risk Associated Press reporter larry new meister described maxwell seemingly engaged and then dejected appearance at the video hearing you could see. Maxwell shrinking as the hearing went on in the beginning she seemed engaged she was looking at the screen in front of her and was. Writing things down and seemed genuinely interested but i think if she saw the writing on the wall and started to realize that the judge was going to keep her in custody until trial you could see or hang your head she looked dejected disappointed and at one point even seemed to wipe a tear from underneath one eye and the actual trial is scheduled for july 12th 2021 its expected to take about 3 weeks the question now will she survive her pretrial detention in federal lockup or meet the same fate as her former boyfriend and alleged partner in crime jeffrey abstain from the news with Rick Sanchez John honey that is one whale of a question that john harvey just popped out there for us sorry that now this there is a bit of a controversy once again affecting the New York Times that it centers on an employee who quit recently and did so in a very public way by airing all over socalled dirty laundry on her own website barry weiss is resignation including assertions that she fell bullied by her coworkers simply for disagreeing with weiss wrote that she was made to feel too right wing though she doesnt view herself that way joining us now to discuss this is nationally syndicated Award Winning journalist Ruben Navarrette yes sir ruben joins us now to talk about the story does your in the media world right now whats going on with this why has this story apparently hit so many buttons. Rick sanchez good to be with you again barry weiss wrote the Resignation Letter that you and i have always wanted to write we have done our past left various news organizations and theres a journalist out there america who asked why do write a letter like this and lay out in broad language and blunt language what is wrong with this place and this place in this case is the new york. Times heres what the storys about and heres whats important that york times needs to change it knows it needs to change because in 2016 it completely missed the story of donald trump selection and so we tried to bring in barry weiss to bring in different opinions as the opinion editor her job is to bring in points of view you might not normally hear or see in the New York Times and she did that and for that she was bullied she was picked on she was run out of the paper heres why people forgot to ask the folks at the Grassroots Level hey do you want to change turns out they dont want to change so the people on high decide there need to be a change but the people at the bottom like things the way they are theyre the ones who made her life miserable. My only problem with her assertions many of which involve the New York Times being too liberal is that i could go out of the middle of the street somewhere and throw a rock and probably find somebody who would say the New York Times is too conservative because when you problem gate the hong kong situation make up stories about russia and are prowar in almost every single measure are you really too liberal as she asserts. Heres what she asserts not liberal or conservative but rather that theres a set narrative awoke narrative on every issue there is your knowledge to stray from that most people think for instance theres 2 sides to the gay marriage debate to the same sex marriage debate not the New York Times theres only one side and issue by issue this is the case so what she said is instead of fostering curiosity and letting our readers figure it out we have a set narrative were trying to tell our readers what to think and tell them theres only one way to think so in that regard man did she put her finger on what ails American News right rick i think c. N. N. At the york times this is it you know youre absolutely right i mean if her point of contention in all of this is that theyre unable to see how most americans are perplexed by many of these issue. Choose and theyre not comfortable with the position that you hold then she is absolutely right because oftentimes the miami herald as well as the New York Times as well as every newspaper in the country whether its the one you grew up on or i grew up in tend to hold positions rather than just tell the stories and i think thats the right shes making i think youre on to something. That is shes on to something as well every single issue out there gun control abortion Capital Punishment there used to be 2 sides we used to hash that out on the op ed page you have column right column left we dont have that anymore and she paid the price for that youre fired up about this i like that Ruben Navarette really fired up Ruben Navarette joining us here and i thought about the world of journalism we thank you my friend for doing that with us we appreciate it thank you. You know of that i 3 major american banks are stockpiling money over fears the coronavirus recession could get even worse j. P. Morgan chase wells fargo citi group have set aside almost 30000000000. 00 so they can cover loan payments that americans are in creasing lee unable to make think about that people are not able to make loan payments on their Credit Card Debt on their Business Loans on mortgages forbearance that are being delayed where they have gotten deals from their banks where they wont have to pay for 6 months in some places a year joining us now to talk about this Jason Hartman. Jason is the founder and the c. E. O. Of Platinum Property Investment Network hes also a very prolific investor in his own right. I guess the takeaway here is that banks are looking like theyre getting stingy with their money and about to become even more stingy down the line that theyre my reading this properly. Yes rick you know during the Great Recession. Everybody blames the banks for being too liberal in their lending guidelines and giving out a bunch of liars loans the ninja loans meaning you know no income no job doesnt matter right and so now the banks or are being more conservative theres no question about it even as they have stockpiled between the 3 big banks that you mentioned about 28000000000. 00 we are seeing Mortgage Applications for both purchases and refinances go through the roof i mean consumers homeowners and home buyers cannot resist these low rates its causing an artificial boom in the Housing Market and theres a lot of repositioning as we talked about when i was on with you prior people moving to the suburbs but one of my fears is that it will see what we have seen happen or had seen happen after the Great Recession were even during is that you know this kind of vicious circle this cause and effect where the banks over correct and im on one side of the. Pendulum you know its wings back and forth right there are too liberal and then they become overly conservative and then that really hurts the Housing Market hurts the economy overall so thats one of the things we need to be mindful of is that lets hope they dont over correct it is good that theyre being careful for sure but over correction it is just as bad let me take you in a different and interesting direction that conflicts somewhat with what you just postulated and with what a lot of people are saying and fearing and that is that so many people out there are going to hold so much money and theyre taking all this stimulus money but many cases they dont have jobs and theyre not going to be able to pay down their mortgages oh my god the sky is falling and that means that eventually were going to have one hell of a bad economy right ok now lets go in a different direction suppose that all these people. Are actually not idiots that because the government is putting money in their pockets theyre able to use it in a wise way and help boost our economy down the road what. If this pie in the sky or is there a possibility that this could happen as well. You know its a its a very interesting point you raise rick because you know the basis of wealth for the individual the family or the society is Capital Formation and what a lot of people are doing right now although we dont have any you know very detailed statistics on this yet but a lot of people are using their unemployment money their bonus unemployment they may not really be unemployed you know a lot of people are good workers and you kind of cant tell their own business its very hard to really know and what theyre doing is theyre not paying their housing payment theyre not paying rent theyre not paying their mortgage theyre in a Forbearance Program and theyre stockpiling cash so interestingly its a strange these are strange times when. Some people are actually going to come out of this pretty darn well even if you think they have a hardship because it might show up that theyre on a Forbearance Program or theyre living in an apartment and not paying rent or getting a reduced renter getting some sort of loan work out on a mortgage either side renter or or homeowner but there are there are there are using that to save money because theyre living in their house for free or at a reduced price so youre saying that by them stockpiling this cash what we could actually have is the opposite of what many are predicting that we could have either a big or small boom economy somewhere in the near future. You know i dont know its hard to tell id say that the pandemic goes were probably in the 3rd inning ok so. Its still early we were in the 3rd inning and weve got a ways to go the economy is definitely in trouble theres no question about that but there. Or definitely some bright signs talked about before theres a shortage of supply and housing automobiles not of Consumer Products so that is the supply demand shock that we talked about on a prior show great stuff as usual Jason Hartman joining us to talk about some of the things that may be happening. On the ground perspective which is where he lives by the way which is not theory or thesis but actually whats going on pragmatically thanks again jason appreciate it. And have a think sometimes the more you think you know the less you know and the more you watch or even in my case host this newscast the more we learn they get offended and if you go figure. During the vietnam war u. S. Forces also bombs neighboring laos there was a secret war. And for years the American People did not know. How much it is officially the mouse heavily bombed country per capita in all Human History millions of unexploded bombs still in danger lives in this Small Agricultural country Jordyn Wieber went on you cannot. Even today kids in laos full victims of bombs dropped decades ago is the us making amends for the tragedy in laos wont help to the people need in that little land of mines. Thats right weve answered their global depression style longer recession to get the recession. Or depression this will last a few years yeah. The world is driven by shaped by. The day theres thinks. We dare to ask. Join me every thursday on the alex salmond show and ill be speaking to guest of the world of politics sports business im show business ill see you then. This is boom bust the one business show you cant afford to miss bridgeboro in washington coming up has signed legislation. And an executive order to hold china accountable for its oppressive actions against the people of hong kong the United States has its hong kong autonomy act and did trade privileges for the special Administrative Region straight ahead we analyze the move of chinas response and how the tensions between the 2 superpowers are spilling
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