Criticism of chinas handling of the crow virus pandemic. You know why i dont want. I dont want to deal with what they did. Or i dont want to. Do it out. Of the world. They stopped it from going. So thats correct. Meanwhile white house chief of staff mark meadows told reporters tuesday the mandated review of the agreement had not been rescheduled as of yet but insisted trade representative robert lie highs or has been in regular contact with his chinese counterparts now the Chinese Ministry of Foreign Affairs for their part spoke more broadly about the strain on u. S. China relations on wednesday. At present sino u. S. Relations in serious and difficult times because for some time the u. S. Government which has unilaterally troubles and one tonally adopted in the series of words of interfering in chinas internal affairs chinas interests in seriously damaging u. S. Relations we urge individual american politicians are proceeding from the well being of the people of china the United States and other countries in the world to listen to the voice of the International Community to achieve cold war thinking to look at china and sign a u. S. Relations objective to walk in the opposite direction with china to make way to promote sino u. S. Relations to return to the track of the coordination and cooperation and stability. And joining us now to discuss is host of economic up there professor Richard Wolfe richard a professor wolf its always a pleasure to have you on the show i think there is a big question here when we talk about the cancellation of these trade talks is this trade deal dead. Absolutely not let me be as clear as i know how to. Listening to President Trump explain that he wont talk to john or because of what they did to this country its a desperate effort to transfer the blame for not being prepared to recall the virus for not being able to. For the roth fact the United States were ordered standard beat worlds population of the world thats 25 percent of holding and the caribbean efforts to blame not on china which no one else in the world can see it is an extraordinary act adding said that the rhetoric im proud china is not matching my words let me give you 2 examples the last week surveys were done big businesses in hong kong with all the noise about what the chinese did in reasserting their authority no one in china no Major Business is leaving china or has any plans 2nd example bring american chinese traders dont the asian great and great change American Companies in china and a recently released survey 80 plus percent of the businesses there i have no plans to read because they dont believe theres anything more then theyre all jury why the president in a difficult the election will look as though he can bash the chinese rather like it bash immigrants and others in the past this is not a bad trade trade it is a hostage held probably election and most of the players that matter here believe that once the election is over none of this is going to be continued very much for of and pontificating about what might happen in the election if President Trump is unseated is obviously a discussion for another day but i think the question here is a lot of attention is given to pray. Because hed like to say a lot of things but what do you make of the chinese reaction to all of this posturing from the United States you know theyve been very hardline about everything thats going on with this tech war as well as trade and you have way tictac in all of that what are you making of their reaction to this. Your reaction strikes me as cautious careful very much the opposite of its clear. We provoke them polish is shoot me a response and i think that are 2 reasons as long as this is rhetoric as long as this is the right general electoral posturing and it doesnt fundamentally affect it john i mean theyre ok and the truth of the matter is if you go into your neighborhood the Department Store they ask majority of chinese things that were on the shelf a year ago d or theyre on the shelf again this year right now and still the fundamentals havent been changed and let me add because its true if the chinese were really upset right there they could and they would have taken action against american corporations in china comparable to what the u. S. Has done to Chinese Companies here theyve done nothing or a good story so call the always insightful professor richard roth host of economic update thank you so much for breaking it down 4th today pleasure thank you. And the u. S. Dollar fought to stay just above 27 month lows as investors were waiting on the release of minutes from the Federal Reserves july meetings now you will remember the federal open Market Committee declined to and now its any new policy steps at the end of those meetings though in the minutes released where the officials at the meeting agreed that the Ongoing Public Health crisis would weigh heavily on Economic Activity employment and inflation in the near term and was posing considerable risk to the Economic Outlook over the medium term now adding that they will hold Interest Rates at a range of 0 to 0. 25 percent until they are confident that the economy had weathered recent events and was on track to achieve the committees maximum employment and price stability goals onlookers had hoped for a look into a crystal ball of sorts which might point to the. Policy stance ahead of septembers meeting so lets begin with former fed insider to you as well as belgians. Thanks for joining us again. Great to be here now what are your Key Takeaways from the. Minutes released wednesday. Might my Key Takeaways come down to 3 words at some point there was verbiage that said that policymakers would be considering other steps at some point that diverge is from what was said but what has been said by policymakers what was said in a previous statement was was at future meetings at upcoming meetings so the lack of specificity really did get underneath investor skin and we saw stocks close down which as you know is fairly unusual in this environment when all they seem to do is be able to go up but investors were definitely not encouraged by these minutes they were disappointed and now its just much of theres the next policy meeting is set for september it will be the last before the upcoming november elections what are we anticipating coming out of these meetings or are we going to see any policy change. Well i think that there is still a significant possibility that we do see significant action at the september 16th f o m c meeting but i think that message is of the minutes today is that the fed is trying to push back on the congress the fact that its it feels its tools are limited in terms of meeting Small Business needs and that that the federal government that Congress Needs to come together with the administration and put together a stimulus bill that the fed will happily then monetize do more q. E. To to fund but i think that that was the main message now if markets are to step back and if there was to be a deep correction and i say deep i cant even say with a straight face but its stocks were to go down by 10 or 15 percent i think that that would certainly prompt the fed to move regardless of whether or not Congress Remains at loggerheads through this september the 16th meeting well its always hard to say because congress will remain deadlocked as we are in a contentious election cycle right now and i dont want to look at something as you talk about stocks possibly dropping 10 to 15 percent which is hard to say with a straight face as you just mentioned now with all of these concerns about the u. S. Economy apple actually had a market cap of 2 trillion dollars on wednesday becoming the 1st publicly traded company in the u. S. To hit the mark and of course it should be noted that just over 2 years it took just over 2 years for the company to double its valuation what do you make of this latest milestone. So i think that apple hitting 2 trillion dollars is emblematic not just of the fact that they have they have a massive franchise they have a massive footprint theyve created their own ecosystem if you will but its also a reflection of the fact that the fed is going to continue to print 120000000000. 00 a month the fed is actually buying apple bonds as if apple needs any help at all from the Federal Reserve i call that a travesty thank you very much but its emblematic again of the fact that the Federal Reserves Monetary Policy what theyre doing right now is growing their Balance Sheet it continues to go to the largest players and increase. The size of u. S. Monopolies which does not by the way benefit main street in any way and weve seen that with i think the top 12 richest americans have actually gained somewhere around or are now worth about 21 trillion dollars and weve seen that just happen this week amid a pandemic which is devastating the economy former fed insider and c. E. O. Of Quill Intelligence daniel de martino booth thank you so much for that insight. Thank you. I. An australia has entered a deal with british drug maker astra zeneca for a potential vaccine it would supply to its entire population free of charge the government announced tuesday now the vaccine developed by astra zeneca and 30 university is in late stage trials involving thousands of volunteers showed Prime MinisterScott Morrison issued a statement praising the deal saying the oxford vaccine is one of the most advanced and promising in the world and under the deal we have secured early access for every australian if this vaccine proves successful we will manufacture and supply vaccines straightaway under our own steam and make it free for 25000000. 00 australians and as the race for the vaccine continues lets take another look at the trends and spread of the virus globally with r. T. Correspondence i tab to die where are we wednesday so when right now more than 22000000 people have been diagnosed with called it 19 some 15100000 have recovered while more than 780000 have died in the u. S. Cases are nearing 6000000 while deaths are all mad at 175004 granted i want to discuss vaccines because thats only hope right now given that all of these numbers just keep going up and up so right now researchers around the world are working on developing more that 165 vaccines for the corona virus 31 of which are currently in human trials and while vaccines typically take years of research and testing before even reaching the market scientists right now of racing to produce an ineffective vaccine by next year and even some by the end of this year so lets take a look and for the sake of time im only going to discuss the ones in phase 3 and the wants are already approved so for the 1st the ones in a phase series so 1st we have my during our now thats the 1st u. S. Company to conduct phase 3 trials and if successful theyre expected to hit the market by april of 2021. And there there is bio and. Pharmaceuticals now thats a collaboration between a german american and try any farmer Suitable Company working together and right now theyre working with 30000 mullen tears in the u. S. Argentina brazil and germany and if successful in trials there are expected to deliver about 100000000 doses to the u. S. By the end of this year then there is can see no biologics now there is a Chinese Company that already released a vaccine for a limited use on the Chinese Military while its also working on face to trials in civilian use in saudi arabia now theyre expect their release date has not been an ounce then there is a vaccine developed by the british Swedish Company astra zeneca which we discussed earlier and theyre working with the university of oxford and theyre doing their study based on a chimpanzee study now that vaccine is now in phase 3 trials in england india brazil south africa and the u. S. And if their trials are successful which and theyre extremely aggressive in their trials so theyre expected to start delivering emergency vaccines as early as october then we have the. Institute of my logic products now theyre developing as c. A vaccine which the state owned Chinese Companies see you know far put into Clinical Trials now their Church Chairman they announced earlier this month that a vaccine could potentially be ready for public use by the end of 2020 now pseudo farms also testing a 2nd vaccine now this one is developed by the beijing institute of biological products and theyre expected to be ready by the end of this year and then we have the private Companies Biotech now they have launched phase 3 trials in brazil and indonesia now theyre expected to be available by march of next year 2021 lastly there is the murdoch childrens research institute. Based in australia now theyre working on the same vaccine that was developed 100 years ago to fight to reclose says and they have not announced yet where and their release date for the vaccine is going to be now these are 2 companies that are released small amount of vaccines for either a limited or early us 1st there is a can see no biologics now thats the same Chinese Company i discussed earlier which released a vaccine for limited use on the Chinese Military then there is the russian get a research and institute which earlier this month announced that he had granted the worlds 1st Regulatory Approval for the covert 1000. 00 vaccine after just 2 months of human trials now the gamaa institute is expected to submit the results of their Clinical Trials later this month and vietnam so far has agreed to purchase anywhere between 5250000000. 00 doses of that so well see in the coming months whether any of these deadline set by these companies or governments goes as planned front party correspondents are tender thanks for keeping us up to date. And time now for a quick break but hey here because when we return we analyze the surgeon big point as investor uncertainty looms over the Global Economy as we go to break here the numbers of the close all red arrows across the board. I. Will look forward to talking to you all. That technology should work for people. I robot must obey the orders given to human beings except where such orders would conflict with the 1st law. We should be very careful about Artificial Intelligence and the point of view is. Trust our government. Conflicting theories cha saying with Artificial Intelligence will something different. The obamas protect its own existence is next. Summer a solution oh my screen just sort of all out there in this serious doubt today recovering would be dollars age the globalization what comes next with the investment manager lawrence. Lawrence woke up. An entire village in alaska has had to move if another country to run the wife of an american. We do everything in our power to protect the. Water they escaping Climate Change poses the same threat right now alaska does seem some of the fuss just coastal erosion in the world we lost about 35 feet. 35 feet of ground in just about 3 months while we were measuring. Is fast enough means the river is 35 closer to the power than was 4 i dont think were part of her 1st for. Israel media a reflection of reality. In a world transformed. What will make you feel safe from. The isolation for community. Are you going the right way or are you being lead so. What is true or is faith. In the world corrupted you need to descend. To join us in the depths. Or and maybe the shallows. And welcome back because in his head a very strong run as of late shooting above the 12000 dollar mark as recently as monday but is the bull run now beginning to slow some analysts say that while things have been surging may actually have a tough time establishing a foothold above 12500 in the near term as bullish positioning in the market is starting to look overstretched joining us now to discuss is gold if you want to christiane thank you both for being here today kristie ive got to start with you on this one im going to ask you point blank is big calling is bull run about to come to a halt. Then ill respond point blank no just because they can reject of the 12400 mark doesnt mean that the rally is over the trend line is still intact suggesting that this correction is nothing more than a very healthy pullback and so there are a couple of reasons why you had this rejection namely that the there is a significant resistance near the 13000 mark as well as high funding rates so pullbacks in general theyre Pretty Healthy and weve seen this in previous cycles where youve seen rapid upsurge is followed by very sharp corrections and this minor pullback and i do mean minor this is only a 1000 which is nothing for decline and so its very very minor this was nothing more than something that allowed 0 funding rates to neutralize and over leverage positions to get flushed out which is exactly what happened so in all likelihood we will. Get some consolidation at the 12000. 00 level similar to what we saw at the 11000. 00 level that weve been kind of trading around for the past week or so so the big client is still acting above the 100. 00 day and the 200. 00 Day Moving Average