tv Worlds Apart RT February 1, 2018 1:30pm-2:01pm EST
that all comes as baltimore has been rocked by the ongoing trials and one of america's biggest police corruption scandals the gun trace task force and the elite group of plainclothes officers were supposed to be reducing violence and crime however it now seems they have actually been adding to it six out of eight members of the group have pled guilty to charges of organized crime including extortion and drug dealing artists american has been across the story. the baltimore police department is now involved in one of the biggest scandals in us law enforcement history for months now the court system has been trying to investigate corruption within the city's police force eight officers are on trial over drug trafficking racketeering robbery and planting fake evidence like drugs and. we would create false reports to cover up the robberies we were involved in it was like
a well if life were got to weigh with a lot of things if proven guilty the officers that may face twenty to one hundred years in prison and six of them have already pleaded guilty and are now acting as witnesses in hopes of softening the moving verdict and their lawyers claim the officer spilled guilt over what they've done mr jenkins is extremely remorseful he's been remorseful for a long time even before these charges were brought and he's relieved that today finally he was publicly able to accept responsibility for their client sorry for what they did or should. be so regretful of what what happened. i really don't have any comment meanwhile officers cases continue to be dismissed with hundreds under review and most of them involve incidents of officer switching off their body cameras to plant drugs or guns and then reenact seizing the evidence they had already planted. we talked to christopher urban who founded a group that helps former convicts back into society he's concerned about innocent
people being set up by the authorities with fake evidence guys going to jail for things that they didn't do so now you know when you look at the news and you see that these polices are corrupt these are the same guys that be locking people up you know sitting in the jail shake reports putting guns on drugs is so sad to read son of a you look at the police to be somebody that you could trust in your city somebody that you can call but you can't even call in because you don't know if they come for you call rob you or whatever the case may be is so sad because the commissioner in baltimore doing nothing you know at night is so scary as to be outside because you don't know if you'll give rob will shot you know you look for the police to protect you and they did not want. the u.s. president looks set to release a classified memo which could potentially reveal f.b.i. wrongdoing and it's resulted in a public clash between the white house and the bureau the f.b.i. has complained that it wasn't given sufficient time to review the content while
saying it had grave concerns that facts have been removed from the memo the u.s. house intelligence committee voted to release it on monday meanwhile democratic representative adam schiff says the changes have been made without proper approval and called for the white house to drop the release the memo was originally drafted by the chairman of the u.s. house intelligence committee. now the chairman spokesperson has revealed that some of those changes actually came at the request of the democrats explaining that other changes included minor edits grammatical fixes and to add it's requested by the f.b.i. this all comes after donald trump was caught on a hot mike confirming he will release the damning memo growing stronger one hundred. right. now it is claimed the document reveals f.b.i. abuse of the foreign intelligence surveillance act particular with with regard to claims found in the infamous trump dossier it confirmed it could damage confidence
not only in the bureau but also in the ongoing probe into trump's alleged links some republican house members who said they've read the memo have called it shocking and worse than the watergate scandal however some democrats in congress say the calls to release the document are nothing more than another plot engineered by the kremlin after the hashtag released the memo spread on social media u.s. politicians put pressure on the platforms to find evidence of russian bots but nothing to indicate that was found in the mainstream media went even further suggesting the chairman who drafted the memo could be a russian agent himself. isn't it possible that the republican chair of the house intel committee has been compromised by the russians there's a possibility i tried all the russian agents running the house intel committee on the republican side i hope that's not the case i mean this is behavior speak about
them i mean i'm not the first person who's raised this he's behaving like someone who's been compromised by. the. investigators reportedly are interested in stuns advocacy for better relations with russia any vote for stein is a vote that otherwise would have gone to hillary. donna brazil would seemingly buy into pools russian fuel propaganda spread by both the russians and her opponent a lot of candidates how. if those objections and i know the senator from kentucky on the floor say before i read this if there's objection you are achieving the objectives should flatter me to let the democrats want to answer that question is devon nunez
a russian agent with yes but they know that they'll be sort of laughed off the stage for getting into conspiracy theories i've never thought this is about russia collusion which isn't even illegal if it was i simply think this is about finding a way to stop by powerful force that they can't figure out how to stop democrats in our country this was invented by them it was politically weaponized through the f.b.i. and other levels of our federal government and it's the only way they figured out how to stop or break the tie the american people have to this president. still to come in the program u.s. military bases in japan are once again in focus as the city in okinawa gets ready to choose a new mayor and bring the details on that after a short break. i want to show people in russia that there is a nod their point of view of this is the goal of my complaint i know you can't win
on the elections where only point it always wins for there is no thrust of talking what would be if i would win i will never win on the elections laken because you know where all always because you know we. would hope that you should. put themselves on the line. to get accepted or rejected . so when you want to be president and she. wanted. you to go right to be the first this is what before three of the people. interested always at the water's edge. there should.
come back campaigning for the me or a lections in the japanese city of no go has again highlighted the controversial nature of america's military presence on arkansas what island. japan's central government and authorities are not going to know where the u.s. troops are currently stationed have been in battle over the possible relocation of the base to the northern city of not go a recent poll shows sixty three percent of voters oppose the relocation while only twenty percent support the move the incumbent mayor of the city says a vote for him would be a vote for defending japan's autonomy so the lections are extremely important as they will have a great impact on the future of not go in okinawa our country's current administration is attacking us with attempts to sway the power these elections are meant to defend japanese democracy and our autonomy we're asking people from all over the country for their understanding okinawa is in
a difficult situation right now but if many people support us we will continue what we do. in one thousand nine hundred six a review by japan and the us decided the american base should be relocated to the remote area of had no co the decision was made in order to reduce the military impact on the populated communities of southern of canara but there has since been numerous crimes committed concerning the us military presence there.
activists in okinawa believe the japanese government has been turning a blind eye to the tense situation playing out in the region now cut antonio misstating i mean it is a really strong body resurfacing that it could have nation of the day but another candidate is a buck deputy by japanese central government so he ugliness. indication of that the new meet a face in his most people who are against the new media the best course of action is government job was government hungry ignoring voice against democracy and against dition if the. accept a local media a base they can get the money many citizens who know the troops
the facts are really. worried japan's government sent the who sent. ministers money and demagogue dimmock all. fake news of but we will not lose we will win. the cryptocurrency big corner thing another. tumble as regulators in india and a widespread crackdown setting prices into freefall it's already down by more than half from its all time high reached in mid december facebook has also moved on kryptos single block all ads promoting bitcoin or other cryptocurrency products and services and girlfriends looks into the ban. big news in the world of crypto facebook is banning all cryptocurrency ads explanation of the social networks not sure all of the companies behind them are operating in
quote good faith so it's stepping in to save the day. we want people to continue to discover and learn about new products and services through facebook ads without fear of scams or deception there you go with the crypto boom comes the crypto rag down we already seen some governments across the world seeking to ryan in the uncharted waters of the crypto market to from china to the u.k. pseudo financial innovations that have no relationship with the real economy should not be supported i would caution the people we know road to look all about war and sons forms the price but cotton it's not committed to this war because the eventual supply is fixed if you want to invest in but be prepared to lose all your money sure there are traps in the greater world take this nicely wrap website of the lithuanian based startup protium the company wanted to track around six point five million worth of the theory in crypto currency to revolutionize agriculture sounds
promising. sure enough the company disappeared without a trace soon after finishing its heart kept wiping its website clean and leaving just one vulgar word behind but it could have been much more like a whole crypto bank for example the first ever by the way the arise bank which had its assets frozen by the u.s. securities and exchange commission with more than six hundred million dollars in several crypto currencies including bitcoin in light on it all because its owner had previously been associated with crypto fraud and its new bank fabricated agreements with banks that did not exist.
but then really how many i theo's out there are scams and that facebook really need to go that far to limit. the whole cryptocurrency movement is a big thing and it's kind of like a gold rush so there are going to be some scam artists who get in on the action and unfortunately there are a few but facebook is a billion dollar a month company they can put one person on this to sort them out it's not that hard there's not that many of them it should not be their their job to police such things in my opinion they have to deal with us in world politics and there may be pressures on them to do these things than you can watch the full digest on our you tube this is. i mean you go. that's a wrap up of the news for now but i'll be back at the top of the hour with more and don't forget you can always had to our website r.t. dot com for the details on all of today's top stories or you can find us on any of
before their eyes. i remember thinking when i was younger that if anything ever happened to the coal mines here that it would become a ghost town but i never thought in the million years i would see that and it's how it's happened. here's what people have been saying about rejected in the senate it's full on awesome the only show i go out of my way to punch you know what it is that really packs a punch. yampa is the john oliver of our three americas doing the same. apparently better than. some i see people you've never heard of love attack the night president of the world bank so they can destroy me seriously send us an e-mail.
this is boom bust broadcasting around the world from right here washington d.c. i'm bart chilton. president trump touts the need for a major infrastructure program in his state of the union speech last evening actually banks gives us some details on the actual need as it relates to our nation's bridges and the federal reserve's open markets committee concluded their two day meeting a little while ago danielle de martino booth fills us in plus we'll speak with an exchange executive ilias about markets and cutting edge offering including cryptocurrency s. and we'll talk with joshua young the founder of young capital management about the largest attack and hice of digital currencies ever now let's get to it starting with the state of the union and infrastructure. donald trump's first state of the union address was went off without a hitch he read from
a teleprompter and he did so deliberately and like a pro a major component of the speech was this call for congress to pass an infrastructure bill to assist in repairing replacing our crumbling roads bridges rail airports and waterways asking both parties to come together to give a safe fast reliable and modern infrastructure that our economy needs and our people deserve. and the president called for more than the one trillion dollars he promised during the two thousand and sixteen presidential campaign tonight i'm calling on congress to produce a bill that generates at least one point five trillion dollars for the new infrastructure investment that our country so desperately needs. but figuring out how. to fund what the president called the infrastructure deficit while the federal government already has a four hundred forty billion dollar budget deficit will be difficult at best the
president also calls for streamlining the approval process for permitting such infrastructure projects in order to have them completed in a timely fashion we'll be talking about more about the policy the politics and the economic impact of infrastructure in the coming weeks days and months and if congress can get it together republicans and democrats alike and do the right thing for the nation but right now we have more on the infrastructure deficit as it relates to bridges and some of those financial issues here's our t's correspondent ashley banks. fifty four thousand of the six hundred thousand bridges in the u.s. are structurally deficient according to a report released by the american road and transportation builders association the report states americans cross these deficient bridges one hundred seventy four million times a day potentially placing their lives at risk according to the report deficient bridges are defined as safe to drive but show signs of age and decay and are in
need of regular and spectrum was here the american society of civil engineers gave us in france structure and a deep plus great the group estimates the u.s. government will need to spend two trillion dollars over the next ten years and order to keep american and some structure from falling apart the group says over the last ten years there has been a two trillion dollar gap and which roads and bridges and mass transit transit systems were neglected from one point five trillion dollar plan would include congress three directing two hundred billion dollars of federal funds to amtrak and transit programs over the next ten years while calling for millions of dollars to come from cities states and the private sector but downside is that public private partnerships usually work in urban areas but require projects that generate money like toll roads and airports now only thirty five states allow that democratic
congressman and ranking member on the house transportation committee peter de fazio believes trump and some structure plan will fall apart if there isn't any substantial federal funding adding quote cutting other already underfunded transportation programs to fund a new program is not going to happen and the next few weeks congress will have its hands tied with another budget battle looming and what the immigration deadline lingering experts believe the likelihood of congress focusing on infrastructure this year is slim. not and washington ashley banks reporting for boom. the federal reserve's open markets committee has completed its two day meeting it was the last f o m c meeting run by chair janet yellen who is completing her four year term federal reserve governor jay powell was selected by president trump to
replace yellen and the u.s. senate as confirmed him to be the new chair there are a lot of questions about what will take place not only now but in the year to come with the federal reserve and the economy plus other central banks are charting their own courses while they stick to their plans amidst some of the signals and signs that an economic correction is on the horizon we'll get into it now with danielle de martino booth the president of money strong danielle thanks for being with us again given the president's speech last night proclaiming a quote great economy do you think the f.o. wimsey members are a little worried with some of the recent economic data like the lowest savings rate in a decade and some other data point that the economy may be a little overheated. you know i think that jay powell might be happy that he has seven weeks instead of the usual six weeks to prepare for his for his debut f o m c meeting and potentially that first press conference that bernanke instituted
because there is a lot on his plate as you just mentioned we've got a two point four percent saving rate clearly the markets are just on hand just animal spirits have been set completely free and we're seeing what right vallier recently called a melt up this feels a lot like one thousand nine hundred ninety economies going on all cylinders and yet there are signs emerging from the household sector stress at the same time that low savings rate is not a good sign j palace got a lot of work out cut out for him right now and so the governors but those thoughts but let me get your personal thought i mean do you think danielle that the the market is a little ahead of itself. oh gosh yes i do i mean regardless of the barometer that you use the only way that you can say that the markets are not overvalued is if you use the example of one nine hundred ninety nine because the stock market right now is more overvalued than at any time except for one hundred twenty nine including
two thousand and seven including one hundred twenty nine the same can be said of the bond market deutsche bank look back to the year eighteen hundred and determined that the bond market is more overvalued then it's been in well over. a century to have so it's we're we're staring down the barrel as investors having very few places to hide in the financial markets right now because overvalued is exactly where they are. going to divert i was going to do something else but where should people be looking for where is a place to hide in markets danielle well i mean you know we have seen at gold began to get up off the floor i'm no gold bug but i will say this much gold tends to be the only place to hide when market correlations line up in other words when when the stock market and the bond market and say the real estate market all fall out of bed at once which is exactly what happened in two thousand and seven after a period of a great big debt build now this debt build is an even bigger than the one that
preceded the two thousand and two thousand one to buckle so i'd say that investors should be very defensive in their posture and very comfortable with the risk that they're taking right now if they feel like they need to be in more cash than they should they should be more cash at this point ok and then back back on track back to the fed specifically so you know interest rates obviously this somewhat of a governor on on on growth and do we just anticipate that we are going to have has as has sort of been. predicted but by the fed governors nothing to tell us that that won't happen that we're going to see some more rate hikes this this year is that what you expect. you know i think the markets are fully anticipating three rate hikes so that's plenty more tightening it's building up if not for if you speak to a lot of federal federal reserve officials and former federal reserve officials they can make a clear case for there to be four interest rate hikes my concern is that might be
one or two too many for this economy to handle it again this is an economy that is built on the building blocks of this economy our debt and making debt more expensive tends to make the economic outlook a lot more fragile and one of the people danielle who may have a lot of influence on what the f.o. mc does and particularly on the new chair jay powell would be the number two in charge the first year in government to what the new administration is spent putting people in place and and then the second year they really start you know put it into a second third gear and at the fed we still got that second spot open do you have any idea who the president might want to nominate and are you available well i would certainly be available but i'm not so sure that they wouldn't bar and change the doors and not allow me i'm trying to trying to really hear. what do you think they're going to choose well you know it's been the names that have been cast out
publicly by the administration larry lindsey his name has been thrown out there san francisco federal reserve president john wayne's name has been thrown out there you couldn't get more two diametrically opposed to people when it comes to monetary policy making and that tells me right now that the administration is really not sure the kind of individual they feel should be put in that number two vice chair post. all right and i assume that the answer is no to this but i want to check i mean if there's not going to be any significant policy division between j. paul and janet yellen might there be some other change some sort of form of communication a lot of been spoken about not just at the u.s. federal reserve but at other central banks about how they communicate and and sort of foretell what they plan you wouldn't expect anything different from j.p.l. absolutely i do i push back wholeheartedly against the idea that he is some kind of yellen clone look what we're talking about today is the end of
a thirty plus year era of academics running the federal reserve he is no academic i've spent the past few weeks poring over the two thousand and twelve transcripts from jay powell first few meetings and there was a lot of pushback on his part to things like setting an unemployment rate target or setting an inflation rate target that then had to be moved moving the goalposts and said would never be a good idea he was opposed to quantitative easing the word he used as he was concerned that the markets would find it to be quote habit forming guess what he was right if you read words compared to what the mainstream media is saying about him one of us is wrong eight habit forming sort of morphine with q we are trying to get off it but they still love it love it love it and finally danielle tell us about what the other central banks are doing you know there's been a lot of economic progress around the world but there have been some growing signs overseas and even in this hemisphere with some central banks that are concerned
about the economy what's what are they doing now. well you know mario draghi has got its hands full with the you're with all of the euro zone because it is growing gangbusters right now and yet he's got a quantitative easing program that's up and running that is ridiculous it's ridiculously too loose and we know that the germans are going to be stepping in and naming his replacement by the time labor day rolls around here in the united states i would look for potential more and more tightening than we anticipate right now in europe and don't count out the bank of japan either they have chosen to to peg their quantitative easing program to a ten year yield target and that it's forced them to decrease the amount of monthly purchases they make in their own quantitative easing program and we've got quantitative tightening going on back here at home and jay powell has been a huge advocate to continue shrinking the fed's balance sheet so when you look at the globe when you look at the world holistically and add up all of the tightening that's supposed to occur in two thousand and eighteen i'm not so sure the markets
are ready for it danielle demarche you know both president of money strong and author of fed up and insiders take on why the federal reserve is bad for america thank you as always for your time thank you. and time now for a brief break but hang right here because when we return we're joined by an exchange executive to talk but are you offering and we take a look at the largest digital currency and heist ever and the dow is not down for a third day in a row in fact we're just talking about the fed the dow was up as high as two sixty one today but after the fed means that we are just speaking about and they talked about interest rates being risen later as close to one hundred twenty the numbers at the close of.