The whole nation Philip Morris is trying to use i guess yes to stop tour of the white implementing new tobacco regulations aimed at cutting domestic smoking rates a fringe company sued egypt because egypt resists minimum wage democratic choice trump. Joint says we try to fund. Throughout its history with the selfproclaimed Islamic State terrorist group have recruited up to 30000 foreigners from all over the world to fight for the. Sounds of russian citizens left their country to join the terrorists often. Wives and children with. What hes done. On you to the moon hundreds of children and widows were held captive disappeared. Back in russia childrens families willing to search for them. This is move us the one business show you care to afford to miss a bore in washington coming up as tensions between the United States and china continue to rise the agency for power is looking to cut back on its holding of u. S. Debt straight ahead were going to break down the significance of this potential move and how the u. S. Is responding and late and after equities slipped on thursday markets are still on shaky ground later on were going to go ahead and analyze the state of Global Markets after a hectic week plus the pain demick has delayed several high profile movies this summer but the 1st big blockbuster of the season is getting a late release so for a Holiday Weekend we have an analyst on hand to discuss the state of the Film Industry packed show today so lets dive right in. And another day another escalation between the u. S. And china on the trade front now the latest the white house is asking for. All federal agencies to detail china related funding this includes any and all federal funding that aids or supports china or that directly or indirectly counters chinas unfair competition and malign activities and influence globally now this comes from a document titled strategic competition with china cross cut but that document does not indicate how the information is going to be used it only currently says that it will inform policymakers on the many different ways the u. S. Spending involved china on the campaign trail us President Donald Trump continues to hit china as a work that still needs to be done to protect the u. S. I think were way ahead of what we were 4 years ago and is far more enthusiasm our base is bigger its stronger and weve done the greatest job again if we didnt get hit by the plague from china this thing we wouldnt even have between us i wouldnt cancel the congressman most of the rallies i wouldnt need it around and. Thats a little bit unfair but thats ok thats what john has done to our nation theyve screwed as for a long time or a lot of different ways no never has anybody ripped off our nation like china and ive take it in billions and billions of dollars we never tested we never took in 0. 10 from china and i gave 28000000000. 00 right 28000000000. 00 to the farmers because they were targeted unfairly by china. So how does this latest push to inform policymakers on how us spending involves china affect the relationship between the 2 nations well joining us now to discuss our boom bust cohost ben swan and christiane i thank you both for being here as always kristie i actually want to start with you. Is this new document just another way of presenting china as an economic threat to the United States. It really ends as the u. S. And china have grown increasingly antagonistic towards each other this. Data request will apparently be used to help policymakers strategically when responding to china so a spokesman for the o. M. B. Confirmed the agencys effort to quote ensure that the u. S. Remains strong and in a position of strength against rival nations like china so using language like rival nations Like Fighting words so the white house is not asking for data on all u. S. Government funding used to counter chinese influence such as the bell and Road Initiative funding for military Infrastructure Spending on 5 g. A Wireless Communications e. B. Space tech and more so right now as it currently stands this is a Fact Finding Mission in a data gathering effort at the moment it is kind of laying the foundation for what steve benen referred to several years ago on 27000. 00 as quote draining the swamp to see what lies underneath but the budget of you could lead to more actions against china eventually now ben we know the Trump Administration isnt just talking on these issues in fact President Trump just made another statement on air force one that his administration is looking to banning even more chinese apps that it says quote could pose a National Security threat and quote which apps is actually talking about here. Well he hasnt specify which you have to talk about but base if you base what hes saying what india is doing india just banned about 118 different apps most of them are gaining apps that come out of china some of those companies are owned by by dance by 10 cent and some by baba but i think the bigger issue is this that what the trauma ministration is really responding to is the fact that there was essentially a kind of checkmate to their move over to talk in the last week and as you and i have talked about on the show before the fact is the Drug Administration came forward and said were said the deadline and to talk us to be sold thats the u. S. Canada new zealand and Australia Operations by essentially september 15th by dance look like they were going to do it and then the chinese that was the checkmate was when they came in and said were changing the rules and making sure you understand you cant do this now all of a sudden we went from there will be an announcement about to talk in a couple of days to everything seems to a stalled out so so far it seems like that move by the chinese kind of worked in countering what trump was trying to do by essentially taking away talk the most successful social Media Company in the world right now and handing it to an American Company and in the meantime the response to that i think from the german ministration is they dont want to look like china got the best though it will have to ban Something Else now in order to kind of show that were still strong and you know kristie i want to get your take on that because china did seem to successfully halt the trip administrations for sale of tik tok is that just a speed bump more or has the sale been actually complete or killed completely. I dont think its been killed completely by china is known to be particularly savvy playing politics and stalling and as you know stalling and running out the clock is particularly effective especially when were talking about Election Year so china is fighting back accusing the u. S. Administration of stealing chinese ip stealing chinese tech and chinese jobs so very hypocritical since thats what trump has been accusing china of doing so for the time being beijing has set up some very effective roadblocks that would make any deal impossible. Within the time line demanded by washington right now so theyre essentially stripping tick tock of its recommendation algorithm and requiring the government approval for its sale so it makes tic toc a very unattractive target so its like buying a fancy car with a cheap engine are like the crown jewel defense where you strip away the most valuable assets to make it a less attractive target to take over so now the takeover front run as were talking about microsoft walmart or will they now actually have to reevaluate how much ticktock is actually worth if it doesnt come with the algo its not very attractive without it and its not a very Smart Business decision to buy it at this point so meanwhile tech talk is filing a lawsuit challenging the effective order to ban tech talk without due process and currently its all so unclear what authority that the president has to actually ban an app in the 1st place when we have these escalating tensions between the nations that it could become kind of a punch counterpunch scenario and now were learning that china is plenty to do it u. S. Treasuries how much of an impact can china have on the u. S. By doing this. So this was a move that weve explored last year during the height of the trade where there were frequent rumors that china was looking to like go for nuclear by selling some or all of its over one trillion dollars of u. S. Securities so this shadow wasnt all talk after peaking in 2013 the chinese holdings of u. S. Debt have been steadily declining and are currently near the lowest levels in 8 years but 1000 gradual unwinding beijing has never shocked the market with any major liquidation so far but now the continued escalation that threat may not be too far off now so it is cause for concern and certainly suggests that the fed may soon have to step in with another massive q. E. To purchase whatever china has to sell so right now beijing the latest beijing publication announced that china may gradually reduce its holdings up to about 800000000000 from the current levels of one trillion after the us federal deficit increased its risk of default and so the key reason stated for the liquidation is that they are concerned about the rising debt load. As if the deficit is already hitting a record of 3. 3 trillion so its a very legitimate concern but at the same time this will also nosedive the value of chinas main treasury and to stabilize our base at the very double edge sword bed and i got about 45 seconds left but i want to hit this last point is actually expected to surpass the United States to become the Worlds Largest economy within the next decade what can you tell us about that yes we do see that china is on track to do that thats according to a report that came out of beijing now look the german ministration is doing everything that it can right now to slow that down the question is going to be whether or not voters agree with what the president is doing i would say the president s kind of staking some new ground here where past administrations have not taken such a hard line stance with china hes pushing that certainly on the campaign trail right now as we heard in those sound bites you played earlier and the question will be for voters is whether or not they agree with this and they want to slow china down and try to keep america dominant around the world versus whether or not they want to vote for someone like former Vice President joe biden who obviously during the Obama Administration had a much softer line on china i think it really comes down to how voters see it and we dont know the answer to that yet boom bust cohost ben swan and christi hi thank you both for your time. And the final 2 days of the week have been tough on wall street which generally has an impact across the globe so lets see where things ended up where to start in russia where the mo x. Is down for the week after some volatile days now this week the ruble plunged to its lowest level since the height of the pandemic oil and gas also contributed to those losses as the countrys economy relies heavily on the Energy Sector lets move to asian markets in china the shanghai composite its down for the week despite an increase in the countrys Services Sector activity in august now the index dropped nearly one percent on friday alone following wall street sharp declines in hong kong the hang seng well that is also in the red for the week the index fell on the news that the tick tock sale could be in jeopardy even as china and see it launched a new tech e. T. F. Listed on the exchange now the index still fell 1. 25 percent by the end of trading the nikkei in japan well its just barely up for the week by 1. 4 percent still following similar trends the index closed lower on friday after a sell d off in u. S. Tech stocks pushed wall street to its steepest fall in months in india the sensex its also down for the week on week Global Economic data as well as that massive sell off on wall street going to see that trend over and over again now the metal index was down 3 percent followed by the farm up bank and Energy Sectors in australia the assets followed similar trends the index plunged and suffered its sharpest one day loss in 4 months a 3 point one percent dive on that wall street sell off plus they entered their 1st recession in 30 years in australia the all shares in south africa is also in the red the rand is weaker as the countrys major retailer treuer its International Reported a 28. 2 percent decline in full year earnings were going to go ahead and move to europe in the americas where were seeing pretty. A lot of the same here in london the foot the its in the red for the week that tech sell off on wall street weighed heavily on european markets on friday the u. S. Labor department reported adding one point 4000000. 00 jobs for the month of august helping european markets gain back some of those losses the footsie 3 month a low this week the german dax well its barely down while the french cac it almost finished positive for the week but went red late friday afternoon both reacting to the trends were seeing across the globe on thursday france revealed a stimulus package worth 100000000000 euros to prop up the economy now were going to go across the atlantic to brazil the ebo best but its also down on the week latin americas largest economy plunged to levels it hasnt seen since 2009 g. D. P. Fell by 9. 7 percent for the 2nd quarter of this year the most on record industry fixed as a fixed investment and Household Consumption they all contribute largely to the loss were going to move north to mexico where the b. M. V. It is down for the week the country has lost more than 12000000 jobs over the past few months the b. M. V. Fell on thursday again on that wall street tech sell off here in the u. S. All 3 major indices they are in the red the dow the nasdaq and the s. And p. The tech sell off brought all the indices down now on friday those tech stocks deepened but travel stocks and retailers they helped push the market back up just a bit but not going positive at all financial stocks boosted markets with a jump in yields j. P. Morgan Goldman Sachs and citi group they all saw gains on friday and finally the ts x. In toronto its also down on the week the Energy Stocks actually weighed down the index with Oil Prices Falling to early august lows the index was up on friday on lower unemployment and more jobs added in august now moving into the holiday week here in the United States we will keep an eye on the tech sector to see if that volatility will remain or if markets are going to bounce back and that is your Global Market walk and time now for a quick break but hang here because when we return the pain. Demick has delayed several high profile movies this summer but the 1st blockbuster of the season is getting a late release this weekend we have an analyst on hand discuss the state of the Film Industry and as we go to break here are the numbers at the close. She stressed to make sure that the bush and the bill of the. Us to. Stop the show was so huge she needs to taste it shes a cia which quite a shock. To which she does. Not want you. And i must get your kind of woman in the air force you. Want to go to the show through my its your bonus for should be. Its a mistake so its a good. Look into the spirit over this interview are you going to teach history to actually. Listen to the phone or should stay in spirit. Expressed. Insulin resistance is affecting people all over the world its a condition that wreaks havoc on the bodys metabolic and immune systems and results in poor quality of life for many. People to realize that this weeks trees can be the worst poison. Welcome back d a new report from the World Gold Council claims that golds latest bull run has come to fess but still has room for growth now according to the deputies see the combination of high and certainty easy Monetary Policy a very low Interest Rates positive price momentum the depreciation of the u. S. Dollar and fears of higher inflation fueled record flows of 734. 00 tons into gold backed e. T. F. E. T. F. Said in the 1st half of this year now meanwhile the u. S. Dollar has started to read. Bound from a multiyear support level simultaneously the prices of both bitcoin and gold have dropped off so joining us now to stress are 2 bus coasting crypto analyst ben swann and c. E. O. Of Euro Pacific Capital peter schiff thank you both for being here now peter i want to start with you what do you make of this w g c report and where is gold headed. Well 1st of all gold had a lot higher i agree with the report and the price of gold going to go up i think the World Gold Council thats actually underestimating just how high the price is going to rise because i think theyre also underestimating how much inflation global Central Banks are going to create in particular the Federal Reserve and how much value the u. S. Dollar is going to lose against other fee currencies but in particular against real money which is gold and i got to quit because i have to ask you this peter you have often been here touting the the popularity of gold why you should invest in it is there ever a time where you feel like its not the right investment. Well 1st of all i dont even look at gold bullion as an in