Mark meadows and treasury secretary Stephen Menuhin called the lawmakers to pass individual lesson legislation including redirecting 130000000000. 00 in unused funds from the Paycheck Protection Program which was part of the relief package passed in march now although at this time democrats in the house of representatives have insisted on a comprehensive relief bill rather than stand alone legislation like that just like uncertainty over what may happen or what may happen to the u. S. Economy and unemployment without another stimulus bill Global Markets rallied on monday so lets go ahead and take a look at the state of the economy and markets with Octavia Moore and the c. E. O. Of optimists l. L. C. Octavio always a pleasure to have you on the show now if theres so much doubt that a stimulus bill could get done before novembers election why is the market so optimistic about it and getting a boost monday are we any closer or is this just you know algorithms taking up all the chatter. Well i think youre right also question the algorithms maybe algorithms trading days on the question of Prices Higher i mean we didnt see a lot of tech stocks have a very very good rally through about into the mid afternoon and so this was off a bit it didnt seem as and but it is a reason they were very strong increases apples i spoke. To very very well from d the day that doesnt seem to fit your reason for that doesnt this and just. So i think youre right its just the algorithms trade. And it know with stimulus in uncertain territory and just being a month away from elections here in the United States. What is this going to mean for markets in the coming weeks what can we see if you have that crystal ball to take a look at whats happening here. Well i think with these elections there is a very considerable uncertainty that will surround i think they would like to see an election with this. Election. Results so i think would like to see a kind of we dont have a clue it with a quite some time the kind of been. Much much worse this. Position so i think were going to see after the elections. We have a christie i believe us cohost with us as well whos just joining us now i want to propose that same question to you where do you see markets going in this next month and what or what effect will these Upcoming Elections on Global Markets and markets here in the United States. Well i think that 2020 has been a year that has been just marked by surprises and the unexpected so right now the real fear isnt about placing bets on whether or not or the real fear is that the results of the election wont be identified but on november 33rd and even if a winter is identified the transition they dont think its going to be a smooth one so there is the possibility that the election will get disrupted and could potentially even lead to violence so to that end a lot of investors right now they are facing the decision of whether or not to cash in their chips right now and pull out of the market for fear that this election is going to bring about some heavy heavy swings on militarily so Trading Platform such as Interactive Brokers they are now demanding that its clients put up more money in making its leverage bets on Financial Security so essentially meaning that it wants to reduce its margins in order to minimize their own risk exposure so meanwhile on the other end of the spectrum you also have a lot of volatility traders going all in seeing this as a. Generational opportunity to sell into the post nov election richness so you see that there are the markets right now set to make or break trades so with the potential for some monster results if the results play out correctly so right now this is quite reminiscent of the 2000 election where the election wasnt actually decided on tell mid december and the s. And p. Had actually fallen more than 8 percent between election and december 15th when the when i was finally then decided and now october i want to move off elections a little bit disposable income for consumers remains tight and now retailers theyre actually starting their holiday deals earlier to try to capitalize on seasonal spending and we have amazon prime day coming up this week target deal days in walmarts big favor. Our retailers are expected to perform in the 4th quarter of this year after everybody has been kind to her besides some ecommerce giants throughout the pandemic. Well i guess these deals seem to come early murder is d. Going on the. Precision christmas has been a staunch ally i think it is interesting if you just face that is that there are. Very very well so obviously the almost like i was all the only people. On the tree and its unseemly well. Some some basically totally i was on top of also very well through this crisis at the expense of maybe some. If you look at Consumer Spending so. Well in the 2nd quarter it actually was quite encouraging in terms of the. Not so good in the luxury side so thats the way the schools are. Pretty good for most of the players for a handful of them and i think they said this is because weve seen a lot of bankruptcy is so large and bankruptcies are a couple courses but those retailers who will be struggling. On the edge just. Now kristie because it is actually storing monday pushing up against 12000. 00 whats giving this because in the boost well just like the market is big question is going to be affected by big macro event play such as the us election run up and while we already expect a lot of volatility and one turmoil coming out into this Goldman Sachss warning that i buy it in wind could drive the dx y. Which is the dollar index down to its lows to 2018 so the big question of course trick is trades inverse to the u. S. Dollar so that would gain so the risk are very much skewed towards dollar weakness right now but regardless of whoever wins in november safe haven assets will end up being the ultimate winners as investors are going to shy away from a lot of this volatility trade and run to gold and big quiet so right now many Public Companies have now adopted bitcoin in the last 2 months as a hedge against inflation a few currency so right now you have micro strategy who recently bought 425000000. 00 worth of bitcoin in the last 2 months as a hedge yasar to square the Payment System who also put about one percent of all of its assets into bitcoins as well and of course he had the Asset Managers and Advisory Firm were all holding hefty amount of bitcoin now and there was ours and this includes Galaxy Digital holdings cyberpunk Holding Vigil x. All of them to theyre all inciting inflation hedge trades so meanwhile the big question their own fundamentals right now theyre holding up pretty well right now as the hash rate hit a new all time highs over this past weekend suggesting that more Computing Power than ever are now moving over being dedicated towards mining and since as long as short ratio also bottom now in october 9th point 75. 00 s. Instead of the climb and the 25 percent net short position actually now slipped to a positive 23 percent net long position according to the data on buying and so now you have the entire futures market leaning on a massive bull rally up to about 14000. 00 and now as chris just mentioned there goldman. Sachs is recommending a short positions against the u. S. Dollar arguing that the risks arising from the vaccine trials and the us elections are skewed to the downside for the greenback octavio how do you see this vaccine trials actually affecting trading of the us dollar and about 60 seconds for you here. Whether its my whole goal of that is that in line the new g. M. Will have a backing child to us a little more than all the cars that we ensure that things be about the same but i do agree with them. That looks like it might be a drag on the dollar. Just described boom bust cohost christiane archive you marandi c. E. O. Of optimist l. L. C. Thank you both for joining us today. Thank you. And u. S. Energy companies started the process of returning to work along the u. S. Gulf coast on sunday after hurricane delta battered the region nearly halting all production chevron Royal Dutch Shell and b. H. P. All say their employees were headed back to platforms in the northern gulf of mexico but it can take several days for the companies to evaluate the damage and fully resume work the news comes after the us bureau of safety and Environmental Enforcement said 91 percent of offshore crude Oil Production was shut down due to the hurricane well more than 62 percent of natural Gas Production in the area was also halt it the northern gulf produces roughly 17 percent of u. S. Oil and 5 percent of Natural Gas Oil prices fell monday as production resumed. And there are real concerns that the battle over tax and text giants could trigger a trade war that would hurt the Global Economy at issue its the organization is the organization for Economic Cooperation and Development Efforts to revolutionize the way these corporations are taxed if International Leaders dont agree to the European Organizations plan some economists fear it could lead to chaotic range of taxes and disputes which could have major ramifications for global Gross Domestic Product here with more is legal journalist molly baer contributor with americas lawyer molly thanks for being here what tax plan is the o. E. C. D. Proposing in one all these countries on board. Well you know brian its only been since the 1920 s. That weve had a reform tax slayer when it comes to taking a look at this new Digital World economy and so that is basically the premise behind the o. E. C. D. Attempts to recreate this tax plan is to revolutionize it basically and it has 2 components which in the shell just make it a little more fair steve got these huge American Tech CompaniesAmazon Google facebook they are raking in the dough overseas but the tax system is based more on where your company is located and where its or origin is and so theyre not paying as much overseas where theyre raking in big bucks so the European Organizations try to create a uniform tax plan ideally that everybody would agree to that would be more fair that would include basically paying a fee to do business as well as having your Digital Services tax within the tax within the country where youre doing business so thats going to mean what that means that these American Companies are going to pay a lot more and so you see a lot of tit for tat we already saw earlier in the year there were some discussions over this negotiation the United States pulled out you saw what happened with france france earlier in the year one of the implemented 3 percent tax against Digital Services and the American Government led by the Trump Administration basically said no that unfairly punishes american internet. Services and so were not going to Digital Companies and were not going to go along with that were going to start taxing and putting tariffs on your stuff so thats essentially why the European Organization wants to do it and thats been some of the pushback from the United States and now theyre saying hey we hope to have a plan by the end of the year but the u. S. Isnt at the table negotiations are really moving forward were still hopeful were hoping maybe for next year but right now its at a stalemate theyre saying there could be big consequences because of that and how would this plan help to avoid more economic problems worldwide. Well i think were already starting to see it i think hopefully what theyre thinking is that if everybody came to an agreement on a certain plan and agreed to this overall form of taxation a new way of doing it then youre not going to have individual companies coming up with their arbitrary numbers of how much theyre going to tax a france does 3 percent on facebook and spain does 10 percent in another country does another number and then in retaliation the United States or whichever country may feel theyre being unfairly targeted with a tariff you know snaps back with well were going to put tariffs on your champagne were going to put tariffs on your luxury goods what is it that youre you know youre making a lot of money off of our country and were going to tax that and so what theyre really concerned is that that would end eventually lead to like a one percent drop in Global Production whereas if they agreed to a uniform tax plan that was more equitable if you will then youre looking at 100000000000. 00 that could be spread out globally with this additional tax revenue but thats if they all come to an agreement and right down to this administration theyre not exactly hopeful but theyre not saying its a dead deal yet. This isnt the only road and u. S. Leaders have had with the European Union lately what the latest on the push for the u. S. To drop tariffs in the boeing airbus dispute. Well its interesting i think that thats a great question because really its a microcosm of exactly what youre talking about what these concerns are if they dont come up with an agreement that everybody likes for this new world Digital Economy taxation plan this is sort of a microcosm example because theres been this long going almost 20 year dispute between the e. U. And the United States over concerns that each has that their particular government is subsidizing our governments in the case of the you is subsidizing their civil aircraft industry in the United States it would be boeing in the u. S. Government supporting boeing and then and that would be airbus and so you know the new trade chief for the e. U. Is say hey dont pay tax and so much the United States is doing like 10 percent tariff and they want to up it to 15 and he say and if you dont do that if you dont drop this on these tariffs then we now have permission to go ahead and tax you on up to 4000000000. Dollars of your goods and thats exactly what were going to do so again it goes to that tit for tat tariff that leads to trade wars and a slowdown in the economic you know progress and like we talked about earlier the you know could be a big drop in the g. D. P. If it doesnt go right with the digital part of it but you know were already heard from the coronavirus not just the United States but around the world and can they really take another hit like this with this tit for tat tariff situation lowly barrows legal journalist thank you so much for following the story. Thanks brant. Time now for a quick break but here because when we return just how much our sanctions against Chinese Telecom giant huawei affecting the companys ability to do business worldwide were going to break it down when we come back and as we go to the break here the number that. Was a pandemic no certainly no borders to nationalities. As much be we dont like seeing. Each tick. People. Judging. Commentary closest least sometimes. We can do better we should be. Everyone is contributing to each of our own way but we also know that this crisis will not go on forever the challenges create the response has been so many good people are helping us. It makes us feel very proud that we are in it together. Seemed wrong. To me. To shape out just because the educated and in games read equals betrayal. When so many find themselves worlds apart we choose to look for common ground. A dark industry comes to life in los angeles every night. Dozens of women sells their bodies on the streets many of them underage. Los Angeles Police reveal a taste of their daily challenge so if youre going to exploit a child here in los angeles were going to come as you see officers going undercover as 6 workers and customers to fight 6 trade. But the. One that got away i get why you know. How lucky. We hope to be but there are some friends that the us are still so but theres still. Something to see. Which. They doubt about that with a simple gallon back thats going to put them on the back you know but that. And welcome back the u. S. War on way seems to have been working in terms of shutting down the Chinese Telecoms reach worldwide but a new report indicates that the u. S. Attempt to block walk away from x. To think semiconductors its not working in parts of europe according to a new report while. Way which is the worlds biggest maker of mobile telecommunication equipment and smart phones is still looking for a solution to help millions of their customers this after google was banned from providing Technical Support for new weiwei phone models which still use the android operating system well joining us now just just this us coast investigative journalist ben swan has been following the wild way of saga since pretty much the start