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tv   Boom Bust  RT  October 4, 2018 8:30pm-9:01pm EDT

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cruise more space to pursue what industry insiders say will be a high start up cost for design and testing programs the honda deal is also a successful sequel to a cruise deal with japan's softbank in may in that deal the softbank vision fund paid two point two five billion dollars for a nineteen point six percent stake in cruz. and there is finally forward momentum to report on one of the most challenging issues in the brics that process british prime minister theresa may has reportedly convinced irish of forty's to support her idea for avoiding the creation of a so-called hard border between ireland and northern ireland northern ireland is on the same island as the republic of ireland but is claimed as the fourth country in the u.k. in faery e.u. laws to require the enforcement of customs procedures at the border after brecht's it since ireland would remain in the e.u. while northern ireland would then be outside of the e.u.
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but a hard border is unacceptable to key stakeholders and would undermine the good friday peace agreement for door there in ireland now in preparation for an upcoming e.u. summit prime minister may has secured irish support for her fallback proposal for the u.k. as a whole to enter a customs union with the e.u. for an indefinite period at least until another solution can be reached and while the e.u. is publicly veto the idea close observers say ms may's apparent plan to eat the cake and keep it as it were could is the party's toward a deal on the customs union and the border as british prime minister chris of may has less confidence also because of her handling of bricks that we wonder what might occur with all those out there saying that not so sure she can do it here to help us out as hillary ford it's a c.e.o. mark hellery welcome back my pleasure ok so we always talk about your dual citizen you have an interest in the u.k. and we are pleased. about that but tell us first of all maybe but mind that i read
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about the irish border what your thoughts on that first officer was very good news and you made a point there about the fact that actually island of course of geographically is different than the u.k. you know i have always said that it should have been called not brax it because great britain is not what this is just about but it breaks that obviously flow better so the ox it which it really is we need to have a frictionless border it's very important you can have that and you mentioned the good friday agreement we don't want i or island divided again and that would be a trade nightmare and it would be detrimental not just to all of those in the u.k. and those in england but it would be detrimental to all of those european countries doing business with great britain because they don't want to have that the lines at the border and that friction of the border. let's move to the no confidence part would be yesterday we reported on the program that there were five conservatives who publicly released this letter they officially submitted the letter but it was released to the public of no confidence and it is may but reportedly there are
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thirty maybe forty other conservative members i assume they're conservative members who have no confidence in or maybe have sent private letters. what does that mean is there a potential vote that could occur are we getting forward to that tipping point and who are these conservative members do they have a lot of pull in the u.k. so you're right about the letter it was actually delivered to mrs may right before the conference right before her speak before the conservatives and let's look at the conservative party conference was in birmingham and northern england middle of england the midlands and this was by james doug he's a former tory minister so he was one of the five he actually led it and he led the livery of this letter so purportedly you're right there were all sort of maybe thirty or so of these these m.p.'s that feel the same way however very important to note that letter was before her speech she did extremely well of course the bar was rather low because last year she had the coughing fit that many people might remember the stage actually was beginning to fall down. and this year she said
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something about i might pause to cough because i i make off because i was up all night of applying some glue to the backdrop of but but importantly what's very interesting to think about is the fact that that was before after her speech of course she probably had a phenomenal speech writer but she did deliver a very unifying message she delivered a powerful message in basically looking at the alternatives if we don't unite we're going to divide this party and this won't be great for the nation she also laid out and of course the tagline was opportunities but she laid out more of what the benefits will be versus looking back importantly i think she also sort of acted as if boris johnson who is obviously her former foreign minister who who resigned and who had aside party conference and was really sort of trying to. be a very detrimental aspect to this she did a great thing she didn't really acknowledge him she didn't acknowledge him by name she acted as if this was some little flea bite and there has been a lot of obviously they're used to you tube and media frenzy about this little
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dance she did coming out the stage her staff say that that was impromptu i think was important to think about two things one her speech was unifying her speech was strong and that little dance visually for sort of british people it didn't have to she doesn't have to be a good dancer is a little bit of sucked at self deprecation as well as and i saw actually in the wall street journal that we've got our mojo back that was what it was about and i think it was very powerful so it will be interesting now to ask bret hart now breck's it where does it stand after that speech i believe that it's on secure of footing and i think the u.k. what she's managed to put through now with ireland the u.k. looks much stronger going into what two weeks from now will be that meeting in brussels the next summit with the well we hope you will be back for that we hope you'll be back in the meantime but what have you back for that hillary forward to see yours draw more thank you hillary should legislate it yes.
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european oil major companies are rejecting a proposal from european union officials for a financial vehicle to insulate the companies from u.s. sanctions against iran last week e.u. diplomats touted a so-called special purpose vehicle to enable financial transactions and protect companies doing business with iran the trumpet ministration plans to reimpose sanctions which were lifted pursuant to the twenty fifteen international nuclear agreement with iran in november mr trump has abrogated the agreement while both the u.s. allies and adversaries in the deal have sought to pervert preserve it by salvaging economic guarantees made to iran but oil industry executives are signaling that the s.p. does not provide them with adequate adequate insulation from u.s. penalties iran's biggest european customers include toe tell and their chief
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executive told an industry conference that his company quote cannot afford to take the risk to be banned from using u.s. the u.s. financial system according to the financial times and for more on this important and influx issue we are joined by our friend and the expert over there berlin r t correspondent peter oliver peter thanks for being with us couldn't be better and even better i guess with that you're with us now to give us the view from the i mean the talk is about using one of these. these the special purpose vehicles explain sort of in detail peter how that would work at least in theory. right yes we are very much in the realms of theory on this we'll get to the reasons for that in a few moments but what the s.p.v. to special purpose vehicle is is a deal between china russia germany the u.k. and france all of the other countries that were part of the twenty fifteen iran
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nuclear deal aside from the united states which donald trump pulled out of the deal what it's supposed to do is to allow companies to trade with iran. and well to be cut out from the u.s. is basically it would essentially allow those companies that are doing business with iran to trade under the same rules as if they were doing business say inside the european union it's being put forward and back to massively by the e.u. high representative for foreign affairs federica mockery me her name is threw out they said in fact throughout the iran deal she was crucial to getting that signed back in twenty fifteen one of the key architects of it's taking it very very personally she says this will allow legitimate deals to be able to be done however not everybody is as confident the reason they're not as called is because the united states have said if you do business with iran you don't do business with the united states and it's that whole well really the trump card held by the trumpet ministration is they are threatening to cook businesses who trade with iran
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particularly those oil companies the trade cutting them out of the u.s. the whole u.s. market period two things one are there other leaders outside of the e.u. who are looking at this because there are a multitude of countries that were part of this are running a nuclear deal and secondly do you think that some of these come companies like told that the large energy giant there in france and others are just scared about being bullied by the u.s. i mean i'm a proud american but i sort of trust other leaders on this one to do the right thing and ensure that we have a non-nuclear iran i don't. one that so what are your thoughts about that. well if we start off with who's backing it the arabians are massively behind the idea of of the special purpose vehicle their foreign minister who is speaking in new york in the the u.n. general assembly just recently beaming about the potential of this russia is also
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very much on side with it however the russian side have been a little more cautious saying they expect this special purpose vehicle to be to be derailed by the united states when it comes to is this simply bullying by washington i'm not sure whether it's bullying what it is though it's the way it is because essentially s.p.v. could allow let's say everything goes perfect with it it allows european businesses to trade with iran they can probably in the best case scenario make hundreds of millions of dollars off that business but what they're putting it risk is billions of dollars of business with the u.s. market and essentially the risk is not worth the reward that's why we've seeing to tell say they going to pull out of iran even if this goes in place even if the e.u. and federica mockery any particular say that they can protect you business the business isn't really buying it because as i said it comes down to risk versus
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reward in the prospects of doing some business with iran does not outweigh doing all of the business that they do with the united states simply comes down to brass tacks we are always better informed we appreciate you being with us r.t. correspondent peter oliver thank you peter. and time now for a quick break but stick around because when we return i sat down in boston with the c.e.o. of basis not our on a he who is about to launch a crypto stable coin will bring that to you plus how uncorked the host of the big picture here in r.t. america joins us to take a look at the increased cost of more televisions. streaming as we scrape to squeeze in a quick break here the daily digits at the closing bell the dow the nasdaq and s. and p. all down today with this coin and gold sporting the only green arrows on today's big board back in to push.
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the stock market trading at all time highs the debt load peak everywhere as they had to two hundred fifty three hundred fifty five hundred percent debt to g.d.p. this is the planet on the verge of a major way to mommy just. don't accept the slow drop the oldest was ready to do a little bit it's. moves to. excel she wakes interests.
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i don't buy the stock i put it on me it. was i'm somebody that how does know it's a mask you never know what's happening and what they're shooting what they're hearing . and mistrust the tibetans are. going to say by your. posts that you did nothing in the clip i'll be just like you know that is what i meant to consider is the the oh middle class and in the muslims all these clear when the. the idea of freedom of speech is under threat speaking your mind can blend you into serious trouble now you are presumed guilty and must prove your innocence heard and
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the sovereign individual who is how did to silence speech has been redefined purchasing. quite frankly i think it just misses and have deteriorated and have fragmented and it is extremely important that we have a new digital receiver over a presidency that has the photos that have been people people who have aspirations like freedom and do have aspirations like living in dignity it but frankly to deny them the right to vote with the pretext that oh it's not time it or you don't have bread so you should not be asking for the vote you should vote for people who will provide the bread and who would provide the services. welcome back
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a rare and celebrated female chief executive in indian banking has been compelled to resign as c.e.o. of the nation's second largest bank as concerns about systemic risk continue to linger the executive chandrika char resigned from her position at i.c. i.c.i. bank one of the reputed big four indian banks headquartered in mumbai in june she took leave of c.e.o. after indian authorities began investigating the bank's relationship with video khan which borrowed from i.c. i c i and who's controlling shareholder also did business with ms could char's husband the indian express newspaper broke the core of that story in march and video con was declared insolvent in june becoming one of the many notable defaults among the bank's creditors the price of the. bank stock rose over four percent on reports of her resignation. and turning back to the u.s. retail book market struggling survivor barnes and noble is reportedly considering
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a number of incoming invitations to sell among the suitors and a potential buyout of barnes and noble is their single largest shareholder lou lynn ardo leonardo i'm sorry radio who also serves as their executive chairman mr review is largely credited with building the original store location into a national chain mr rigaud was named as the likely buyer and similar past discussions they did back to two thousand and ten and two thousand and thirteen barnes and noble stock rose by more than twenty percent on reports of the sale but shares priced reminded remain below their past baselines held down by six percent drop in total sales for last year in the third quarter of this year the company's online sales fell by fourteen percent. and turning possible sales in the us book market to a possible merger in global mining peabody coal of st louis is reportedly in serious negotiations to purchase drummond international l.l.c.
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a major operator in colombia's call mining sector the talks center around a proposal for peabody to take an eighty percent stake in drummond for as much as four point five billion dollars the bid marks a noted comeback for peabody a historic name in mining the company nearly went bankrupt back in two thousand and sixteen the talks also followed peabody's purchase last month of the shoulder creek mine in alabama from drummond for four hundred million dollars. and in boston earlier this week at the forbes under thirty summit i was on a crypto panel moderated by the expert crypto writer michael dell michael has been on boom bust before when he wrote for coin desk and he's now the chief writer for crypto at forbes we love it when our friends do well and michael is the best crypto writer i know by far the i. the person on the panel was the impressive and energetic c.e.o. a basis not our only i said down with him after our panel i first ask him to explain what he's doing at basis. of the stable crypto currency which means it's
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like bitcoin in the sense that anyone with an internet connection can access that nobody can really take your money away from you once you have it but it's stable in value and so each token is worth about a dollar and because it's able in value it can actually be used for things that you wouldn't normally use bitcoin for things like well basic transactions right to nominating prices in basis is easier because it's worth about a dollar but also for longer term things like loan salaries anything that involves time or derivatives and things like that and so really trying to bring the benefits of bitcoin. but also the benefits of which is that it's stable and you really had an interesting thing in our panel you talked about how you sort of transformed your view of regulation from when you started back in two thousand and twelve to explain that for our viewers. so with basis what we found is that.
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going to be i can go back for a second right so i started out in two thousand and twelve learning about bitcoin and one of the things ironically that attracted me the most to it was the fact that it was totally unregulated right nobody can mess with the supply nobody can shut it down it was actually something that was really really cool but once i started to learn more about markets and how they worked i learned that actually the total lack of regulation can kind of turn a market into something like a casino. where instead of valuing things based on their their actual productive use of value or their fundamentals on the kind of valued on what the next person will will pay for them kind of like you get this kind of pump and dump behavior the specular behavior and you know the interesting thing is that while a casino is very very fun it's enjoyable for her. the participants it doesn't allocate capital very well and so through doing basis and learning more about the role of the f.c.c. in the c.f. you see in particular i kind of gained a lot of appreciation for the role of in regulation kind of creating orderly
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markets also leaving the more efficient use of efficient allocation of capital of course i do have to mention there's there's a trade off with imposing regulation which is that it can make it harder for entrepreneurs like me and my co-founders to raise money you know for various reasons like for example if you put a transfer restriction that says oh this person can't sell this thing for a year that prevents the casino like behavior like that and there's not really a slot machine that takes a year to pay out for presently. but what can happen is investors are less willing to invest because they have to put a liquidity discount and stuff like that and so it's really a trade off and frankly i think the regulators are doing a pretty good job with that trade and for some of our folks who may not know the explain what a stable coin is and how base is fits into that you want to be a stable call and why are stable coins important and how does that work for bass absolutely so imagine. there's something that is censorship resistant which at
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a high level means i think of it as as three things right anyone with an internet can have it nobody can take it away from you once you have it and the system is very difficult to shut down or basically can't be shut down. and the goal of a stable coin of this is we see it is to bring those benefits the same exact benefits but instead of being a volatile asset like bitcoin it's stable in value. and what's really cool about it is once you have that you know it's actually not very attractive to people in developed the developed world right they have access to dollars which is a very good stable coin in the sense that the people in the developing world you really solve a lot of their problems with money if you can give them a stable asset that is also censorship resistant and so basis what it we kind of aim to be in the long run. is a stable os that people can use for commerce in the developed world that can't easily be you know thwarted by dictatorships or things like that there are dozens of folks here who have great ideas and no money they're operating on
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a shoestring but you've actually done a little bit better you've got some money and a great idea tell us as much or as little as you're willing to with regard to your business development where is basis at this point absolutely so we're getting pretty close to launch we haven't announced the public launch date but really right now we're just sprinting to get everything in line both from a regulatory and engineering standpoint to launch basis which means that you can actually go out to a crypto exchange and buy a basis if you're in another country you can send that peer to peer and so really we're just heads down focusing on that right now finally look at having been on this panel with you you are truly a visionary and it's just an honor to be with you but tell our viewers what is a visionary is vision sure i mean i i it's very difficult to get to know what the future is going to be that being said i do think there is room for a speculative asset like that coin society has demonstrated that it likes gold for
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example right and so i think in the future bitcoin could very well be this gold like asset and that's kind of digital at the same time but i do think you're going to need a stable asset something that you can actually use as a unit of account something to denominate contracts and something that people can hold when they're not really sure what the market's going to do this kind of safe haven asset and whether it's basis or something else i think this kind of split of having a gold like thing in a stable thing to me it kind of adds up in the in the long run so that was not only he the c.e.o. of basis really appreciate him being with you think you. and we now move to take a look at television although who knows what they're at that isn't. today's area streaming to do so we're joined by our friend holland cook host of the big picture here on r.t. america holland as always thanks for being with us is valid ok so are the cable companies in trouble giving the increased use of streaming by so many people in the
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u.s. and around the world nobody loves their cable company except for internet access and where i live in new england red sox baseball and around the country these sports franchises have position themselves to force use of cable but for the most part people are wandering away from the program guide because you've got hulu netflix you to amazon and all these other internet interlopers which as we saw at the recent emmy awards this is mainstream t.v. now absolutely the you know we talk about a lot of these though that have come on and it reminds me of other things that you can get for free or very cheap and then after they start to hook you or you become addicted to whatever it is then they start upping the price and it seems like we're seeing a little bit of this bait and switch in streaming right the introductory offer is irresistible certainly they are testing price sensitivity but the numbers suggest
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that the consumer doesn't perceive bait and switch at this point the term is skinny bundle if you're shopping for a price you might want to try sleng which is owned by dish and they want five bucks used to be twenty you know it's twenty five dollars you get twenty five channels three e.s.p.n. says pretty good direct t.v. owned by eighty and t. has a couple of bundles they want up five dollars this summer and forty dollars is another price point but if you can't afford that they will play down and slings neighborhood because they'll sell you a fewer channels and the key is no sports because those rights are expensive so you can get an on direct t.v. skinniest bundle fifteen to twenty five a month you tube started. thirty five now they've got that forty dollar watermark the best bang for the pot might be sony's play station view for a thirty five a month fifty channels for seventy five
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a month ninety channels so this is cables worst nightmare the next best thing to cart now we often tout at the end of the program pluto t.v. and you can catch r t america the channel one thirty two but that's still free right yeah hundreds of channels not all the channels you're looking for and you won't find the red sox there but you find us and you'll find movies like you wouldn't believe and pluto dot tv it is free and tell us about we've talked often about the legacy media are those guys getting into this streaming act and and finally how do consumers figure this all out with so many options while the tail wags the dog because the big guys are learning from these up starts disney is launching direct to consumer services and the pipe itself a t.n.t. and comcast not satisfied to be the pipe anymore that they're getting into live cable programming admit this is in full overload but i had a guest on my show a couple of months ago cord cutters news dot com they sort this out like nobody's
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business will steer you in the right direction great menu cord cutters news dot com holland cook host of the big picture here in our t. america thank you my friend of free shit. and that's it for this time thanks for hanging with us it was fun so long for now. the. secret indeed of the priests accused of sexually abuse. children can get away with it quite literally i like to call this the geographic solution so what the bishop needs to do then he finds out that the priest is is a perpetrator is simply moves him to
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a different spot were the previous standards not known the highest ranks of the catholic church help conceal the accused priests from the police and justice so listen to that i know that's known as the end and then i conclude that it just is not in. the south for. what politicians do something to. put themselves on the line to get accepted or rejected. so when you want to be president. or somehow want to. have to go right to be cross it's like them before three of them or can't be good. i'm interested always in the waters of the house. question.
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cooked additional note of what was in etc kalinda some of these it's just a. usual thing it's not the most. simple yet so when i'm with you to. look at with a showing of the study see is lost when i try it. do you think it will show. you have the same sort of. both of shipping. yep and most of both the book did the work of the books in your book but still mostly no i do know what the whole . month was the latest news in the book us. stuff no worries i'm right there yet i've put. this was going to do some. lyricists really some really strong fulfill it's a reason. that.
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i'm not. russian response to western accusations it's been carrying out dirty cyber activities boarding is an orchestrated propaganda campaign will bring you a rundown on thursday's war of words. as america holds its breath awaiting the outcome in the brights common a case the supreme court nominee accused of sexual misconduct we located an unexpected effects the scandal could have a looming midterm election and. made an escalating trade war us vice president mike pence claims that china is trying to walk a straight a replacement for trump after beijing and is that all the oil imports from america .


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