40 Burst results for "Taiwan"
Bloomberg Radio New York - Recording Feed
Monitor Show 19:00 09-28-2023 19:00
"Zoe Hoecker is a welder who practices his craft in the metaverse with ForgeFX's virtual training platform. He says, Virtual welding lets me train as much as I want, increasing my skills and access to opportunity. Through Tulsa Welding School, Zoe and other welders can use ForgeFX's platform to uplevel their expertise and answer the need for more skilled workers in today's economy. These are the ways skilled professionals are using the metaverse today. Learn more at meta .com slash metaverse impact. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. This is Bloomberg Daybreak Asia for this Friday, September 29th in Hong Kong, Thursday, September 28th in New York. Coming up this hour, Nike reports quarterly profit above estimates as an inventory glut eases. The United Auto Workers Union is aiming for a 30 % wage bump as the UAW looks to emerge from its strike. And China Evergrande says its billionaire founder is being suspected of crimes. Congress is running out of time to avert a shutdown with no progress reported. Pence says Trump and GOP have abandoned conservative low tax policies. Taiwan unveils a new submarine to fend off possible China attack. I'm Ed Baxter with Global News. Barcelona is being investigated for potentially bribing referees. I'm Dan Schwartzman. I'll have that story and more coming up in Bloomberg Sports. That's all straight ahead on Bloomberg Daybreak Asia. On Bloomberg 1130 New York, Bloomberg 99 .1 Washington, D .C. Bloomberg 106 .1 Boston, Bloomberg 960 San Francisco, Sirius XM119 and around the world on BloombergRadio .com and via the Bloomberg Business Act. It's a little past eight in the morning in Tokyo.
The Dan Bongino Show
Fresh update on "taiwan" discussed on The Dan Bongino Show
"The united states government had least at some indication of information that something could break bad in either that ukrainian theater or across the taiwan street within the next few months or maybe in the next few years the fact that they chose to test it on the same day as the russians now could the doing it to play with us too to mess around with us could the russians be testing it on the same day we are to send a message to the u .s like hey listen we can do this game too and we're prepared for war and we're going to do it on the same day you guys can to let you know that we're ready to go we're ready to go they could be but from i'm what getting from my folks on the spying part are they installing something on your phone it's pretty unlikely and i just want to give you kind of a practical perspective on this to folks the united states government is of seeing company uh... it is it's very little they do right the only reason in my prior i know work we got anything done is because when the president's all life is involved in surrounds himself with secret service agents the president doesn't want to die it's the only reason i can tell you i don't say this out of any sense of bias i don't work there haven't been there in a long time no one calls me anymore then can you defend the secret service i say this because it's real the secret service has to to put people around the president that can keep him alive because there are people who want to kill him just about everywhere he goes and they will so they have no choice like they have to be somewhat meritocratic I'm not telling you there's not some politics in it but i can tell you my time on the presidential protection division that the guys and ladies i work eighty percent of them were top notch like people you trust with your wife your kid in your car right they were good good dudes they knew what they were doing these people were operators man they knew what they were doing outside of that my experience in the federal government has been really bad it is almost completely incompetent there are some decent people that work there no doubt like in any organization but it's just entirely co -opted by concerns budget when's our money come in why are we going to spend the money we have this year i only don't really say that because there are people out there in this space who really are convinced government's good at keeping secrets they're planning this mega spy operation today i always tell you it's not that the government doesn't want to do it it's just that they're too stupid we had father bob suriko who is a you know a he's kind of like an economist and a priest he's an actual priest we had him on the show great guy and father bob i heard him give a lecture once at the aspen and institute he brought up this point which is so great he said it's not that the government is no motivation to do anything right i bring this up because do you believe i'm just asking you like common sense questions that the government is going to put out there a nationwide surveillance software update on every phone and no one at apple google samsung in the government or anywhere else leaked it folks i'm gonna tell you a quick story to show you how unlikely this i'm just asking you to be practical here okay i was doing obama's visit to afghanistan the war zone i was the lead advance i've told the story but before it was a it was a huge deal i got brought in i had to sign an nda how to go into skiff how to talk to the boss the boss is like you're going to be the lead you're going to go to afghanistan we're going to put you on a military plane and you're going to tell everybody you're a dod representative and you're there to do this only few a people are going to know what you're doing and the only person who knew i think on the base was this general i think it was campbell he was like a two -star i think at the time you look that up but and then uh and patreus who was the commander isaf at the time that's the only people who knew and maybe a few of their direct people reported directly to him this was like a big deep six thing i left the office and the skiff folks they're like don't tell anyone you tell your wife you could be arrested for violating this indiana whoa this is cool man da da da da da i felt like the man tom cruise in mission impossible i'm walking out of what is it baker 12 the gate outside of the white house in my shoot like yeah freaking james bond bro badass i get a call on my blackberry at the time guys okay bro here you go in afghanistan i'm like yeah over an open phone line i'm like what's that everyone know i'll be with all person no one can keep a secret this has not happened no one keep a secret ever you're telling me there's nationwide effort to inspire and that one person is folks i hope the government's too stupid they're too stupid however i don't put it past them either because i don't trust anything the government says by the way i saw that movie blackberry highly recommended jim watch it remember blackberries the rise and fall of blackberry if you want to see i mean paula wasn't feeling good last weekend we never watched movies like ever we're always out doing our thing that could mean a lot of things but sometimes what what what's the problem they know they're all married too like they so how do you think my kids got here jim what do you think a stork come on so we're watching this movie blackberry highly recommended the rise and fall of how one of the greatest consumer revolutions in american history the email device and a blackberry and a phone at the same time how it collapsed almost like once the blackberry storm hit that was it good movie highly recommended all right more coming up next i got the real border story for you i promised you yesterday and u .s senator mike lee coming coming up at two o 'clock in about 15 minutes we'll be right back hun
CoinDesk Podcast Network
A highlight from UNCHAINED: Why All 10,000 OnChainMonkey NFTs Will Move From Ethereum to Bitcoin
"Arbitrum's leading Layer 2 scaling solutions can provide you with lightning -fast transactions at a fraction of the cost, all while ensuring security rooted on Ethereum. Arbitrum's newest addition, Orbit, enables you to build your own tailor -made Layer 3. Visit arbitrum .io today. Buy, trade, and spend crypto on the crypto .com app. New users can enjoy zero credit card fees on crypto purchases in the first seven days. Download the crypto .com app and get $25 with the code LORA. Link in the description. Today's guests are Danny Yang and Bill Tai, co -founders of Medigood and creators of Onchain Monkey. Welcome, Danny and Bill. Hey, Laura. Great to be here. Thank you, Laura. Honored to be here again. Bill, you were my third guest, if I remember correctly. So… Yeah. Pleasure to have you back. You're the star of the industry, kind of, at the Necker Blockchain Summit. I know. I can't believe that was over seven years ago now. But anyway, so part of the reason that I brought you two here was to discuss some recent issues, you could call them, in the Bitcoin ordinals world. And it affects you as creators. But first, why don't we give everybody the backdrop of what you've been doing. And we'll start with your backgrounds pre -Medigood. So, Danny, would you like to start? Yeah. So, I'm Danny Yang, pre -Medigood. I started a Stanford Bitcoin meetup back in 2013. That's when I met Bill, actually. So that's how he connected. True OG. Yeah. Early days of Bitcoin when we were all very, I guess, excited by what we could do. And I had the sky's the limit. And Bitcoin was the center of attention for everything. It was really the only thing. And I started a cryptocurrency exchange in Taiwan called MyCoin, that's doing well today too. And then a couple of years later, I started a blockchain analytics company called Bloxier that was then sold a few years after that. And Bill also was the first investor in both of my, those two Bitcoin and crypto companies that have been busy in this space. And just excited to see what's happening today too, what we're going to talk about because of the new happenings for Bitcoin in particular. And Bill? Yeah. And Laura, I think obviously you've known me for quite a while, but I somehow was able to see some kind of interesting future for Bitcoin back in 2010. That led me to doing some work on a bunch of different things. Some of the more notable companies that came out of the industry at that time were Bitfury, of course, where I put together the funding for their first major ASIC chip. Still chairman of the board of Hut 8 Mining, which we spun out of Bitfury, it used to be our Canadian operation and had funded a bunch of interesting projects like AirSwap with Joe Lubin and Mike Novogratz and Power Ledger and some other things. But Danny, having been the founder of the Stanford Bitcoin Meetup Group, and Laura, you will remember even back on Necker Island, what I wanted to do was create something like the Homebrew Computer Club for this segment. And Danny had already done that. So as I was attending the Stanford Bitcoin Meetup Groups, young startups like Zappo or BitGo or Coinbase or whoever would come and present at his meetup. And I just identified Danny as a node with a lot of talent given his PhD in computer science at Stanford and every question that I had that was technical, he could answer. And so one day I walk up to him and I said, hey, if you ever start a company, I'm writing a check. And that became the first company he mentioned. And I funded it along with some real OGs like Charlie Lee, Bobby Lee, Jed McCaleb, people like that. And then that turned into another funding for Blockseer. Both of those companies have been successful. And third time around, you know, I was like, Danny, let's do this one together. So I wrote a check and we put together Medigood.
Bloomberg Daybreak Europe
Fresh update on "taiwan" discussed on Bloomberg Daybreak Europe
"That's the equivalent of a declaration of war and because of our political issues that are now internally you're going to be likely to push that because of the fact that many in Congress and so on would say we will defend Taiwan at all cost and we will give them this and you could even cross that line it's what my point is it's right at the edge that's that we have a chips issue and we have a technology and sanctions issue the reason in World War II war with Japan you had the cutting off of the oil and then the sanctioning them taking their payments so you have a somewhat similar situation chips is oil like back then and it's a very very very delicate issue you have the geopolitical issue which so is manifest in each of them and so on supporting the supporting Ukraine and other geopolitical issues which are also at the edge neither country wants to go to war afraid everybody's of what that war would be like because it would be devastating economically and politically so you will see sort of the postponing these will remain and probably intensify over the next five to ten years but they will be at that edge you're going to see in November there will be in San Francisco the APAC conference and you will see President Xi get together with President Biden but we have a political situation and so on that's it in China they are also dealing with a number of big problems as we're dealing with our problems they're dealing with their problems those problems are first the debt problem that has now been allowed to pass through the into the system meaning you have real estate and real estate counts for about 70 % of savings people put their money in real estate and about 20 % of their economy and there was a bubble and then that's passing through and that goes down to local governments that were living on debt and also land sales for real estate purchases and so that's a structural issue they need to do a debt restructuring and a debt restructuring is a very difficult thing to do they do can it but it's also very politically impactful because those who are you determine whoever's making these decisions determines whose wealth and how they divide the pie so you have that going on you have a move to what President Xi calls the hundred year on storm the horizon in other words he believes there's a hundred year storm on the horizon that's the sort of things that we're now talking about and with that hundred year storm on the horizon you have a very autocratic in other words if you don't behave well you'll lose your head and so on and that kind of environment which by the way in war periods and so on has been what most countries have moved toward or something and so that's having an effect on the economy we have the US China conflict itself which is affecting what country what companies do do I want to be in China or do I want to be in Vietnam that's one of the things that's benefiting neutral countries so they think okay if the ASEAN countries India and other places can be a beneficiary of that where do I want to be but that's also hurting and then of course that we have a world economy which is relatively slow moving that affects their exports so they're going through a very difficult period that was Ray Dalio the Bridgewater Associates founder speaking to David Weston at the Greenwich Economic Forum interesting to hear from him especially as we consider the situation in bond markets today and only last week Ray Dalio said that he believed the United States was going to have a debt crisis and was watching what he called a risky fiscal situation we're looking at the 30 -year treasury we yield 4 .99 % this morning so looking at levels crossing potentially that five percent just a whisker away from crossing that five percent handle the 10 -year yield seven basis points higher as well 4 four .86 % we're talking about these yields at a level last seen in 2007 and the early early trades on the European bond markets as well we are seeing yields ticking higher there as well the German two -year yield is two up to basis point three point two two percent the 10 -year German bond shield also up by five basis basis points this morning to 2 .97 % it's a similar move across France Germany Italian and Spanish yields and looking at the situation that's happening there on currency markets we are seeing the Bloomberg dollar spot index continuing to strengthen so we're keeping an eye too on the Japanese yen to see if it'll cross over that 150 handle again it did briefly yesterday after that Joltz data did show some of the situation the US labor market and the update on that was part of what was accelerated this move on markets that we saw today as well in equity markets contributing to a sell -off there across at the equity space in Asia and also where futures are pointing to we'll have a check on the markets for you next all right this is Bloomberg Daybreak Europe if we want faster growth and also an end to taxes ever ratcheting higher that is possible but there are no shortcuts I'm a conservative of course I want to cut taxes the best tax cut that I deliver can for the British people right now is the half inflation inflation is attached Christine Lagarde and the European Central Bank are working hard to keep inflation under control Bloomberg Daybreak Europe on Bloomberg Radio the time just coming up 730 here in London I'm Stephen Carroll this is Bloomberg Daybreak Europe let's check on those markets for you then we are watching yields push higher across European bonds after the the rise in treasuries has accelerated the 30 -year yield still holding a 4 .99 % 7 basis points 10 higher years at 4 .86 % this morning the havoc is spreading across financial the particularly markets when we see borrowing costs being pushed higher currencies being weighed on as well
HASHR8
A highlight from Auradines 4nm Bitcoin Miner w/ Barun Kar and Rajiv Khemani
"Welcome back to The Mining Pod. On today's show, we're joined by Auradine, a new Bitcoin mining ESIC manufacturer coming to market. We talk about the unit specs, the team behind the machine, and how they expect to compete in an ever -crowded market. Did you know that you can make more money by merge mining other networks? Check out MakeMoreMoneyMining .com for information on BIPs 300 and 301, a proposal to bring more revenue to Bitcoin miners through sidechains and merge mining, called DriveChains. Increase your mining revenues and learn more about participating in Bitcoin governance by visiting MakeMoreMoneyMining .com. Are you a miner who wants to activate Bitcoin improvements? Check out Activation .Watch. See what Bitcoin improvements the Bitcoin community, developers, and miners are considering and show support by signaling for one of many BIPs up for consideration. Activation .Watch. Filecoin's mission is to create a decentralized, efficient, and robust storage infrastructure for humanity's information. Join the Filecoin Foundation team October 3 -5 for PhilVegas, the first major Filecoin community event in North America in 2023, to explore how to adapt data storage for an AI -centric future. Participate in conversations and hear keynotes focused on the importance of data integrity in the world of artificial intelligence. Register to attend and learn more at phil -vegas .io and make sure to use promo code miningpod. Hey MiningPod, I'm Lee Bratcher, President of the Texas Blockchain Council. The Texas Blockchain Summit is now the North American Blockchain Summit. The same emphasis on policy, energy, and Bitcoin mining, but now expanded by working with our partners across the country. We've got great sponsors lined up like Riot, Marathon, GDA, CleanSpark, BitDeer, Lantium, Cormant, Compass, HTS, Crypto Power, Priority Power, Sunoda, and many more. Solidify your trust in the world of artificial intelligence and the world of artificial intelligence. We'll see you there. Hello, welcome back to the MiningPod. I'm Will Foxley, joined today by Rajeev and Varun from Auradine. Thank you so much for joining today. We're really excited to talk about the new ASIC product you guys are bringing to the market. How are you guys doing? Doing great. Thanks for having us, Will. Definitely. You know, the market's clamoring to know more about you guys. The first time I heard about you was from someone who reads into Marathon Digital's deep SEC letters that they put out there, their filings. And they're like, what is this company Auradine? What's going on with this? And people are wondering about it. And then we found out this summer, you guys were public, you guys raised $81 million and there's a lot of momentum around the product you guys are bringing to market. So that's why we're having you on the show today because people have a lot of questions. I'm sure you guys are excited to start producing a new miner for the Bitcoin mining market. So let's just start there. If we could get an intro for both you guys, like your past backgrounds, what Auradine is doing, and then also on the product. My name is Rajeev Kimani. I am a Silicon Valley technology executive and entrepreneur. I've been in Silicon Valley for 30 plus years. Have been involved in multiple successful startup companies, as well as being a C -level executive in public companies. My background is in computer science and engineering, and then also an MBA from Stanford. And this is my fourth startup that we believe is going to be bigger and better than those other companies before this. Yeah, my name is Barun Kaur. So my last company was Palo Alto Networks. I was in the founding team and did two more startups before that. And I started my career at Motorola after I finished my PhD. Awesome. Thanks for that background. Fortune just did a great piece on you guys for like detailing the company. And it started from the question like, how did this company raise $81 million just like on the background here? And maybe you guys have some disagreements with that, but that aside, I like the ending of the whole fortune piece, which we'll link in the show notes, which is, and you guys are coming into a crowded market and raise a lot of money based on your background, based on the things that you guys have built before and as exited from successfully. So with that being said, let's talk about Auradine, the product that you guys are bringing to market and where you see it fitting into the competition landscape. Yeah, we started Auradine with a big vision and the vision was to build an infrastructure company for the next generation of the web infrastructure. And we believe that blockchain AI and privacy are fundamental building blocks that will really revolutionize how we all work and play. And we think that as we started to look at these spaces, we started with blockchain Bitcoin being the biggest blockchain and the most successful that there is. And then during that process, we connected with marathon. And what we said is, what can we do that's innovative and different than what has existed before us. And prior to us, as you know, what has happened is that Bitcoin mining has gone from CPU's to GPU's to ASICs. And then all of the ASIC providers have moved, have essentially been Chinese companies. And so what we saw was two things. One is that we need to provide a very robust US supplier of this technology, which is very important, especially for US and North American miners in general. So that was a very important aspect. But the second aspect is, was to do something that is much more symbiotic and constructive for the energy ecosystem. And so we have done a lot of innovation in bringing out this product, which is our very first product. It's the first four nanometer ASIC in the world. And we've executed extremely fast when people look at us that literally within from start to getting a product out in the market is not much greater than a year. But we have executed extremely fast on this. As you can imagine, we have an amazing roadmap in front of us. And we have some amazing capabilities in our first product. So we are super excited to bring the Teraflux mining product line to market. Awesome. Yeah. So it's kind of going on that whole line. Tell me a little bit about like the market you guys are building in. I noticed that you guys are building within the US, as opposed to Bitmain and others who are building mostly out of East Asia. Bitmain of course has moved its facilities a lot of times and they're mostly out of Malaysia. But then even like the chips themselves are coming out of Taiwan or in the case of MicroBT, they're coming out of South Korea. Tell me about your guys' supply chain, where you guys get your ASIC parts and how you guys choose to manufacture your whole machine. Yes. So I'll give an overview and Varun can add to it. But essentially, well, first of all, we are a US company. So we are a US incorporated company. Secondarily, the chip design is entirely done in the US. So we are based in Silicon Valley. All of our engineers are based here. So that's a second very important piece of it. So all of the intellectual property, the second. The third thing that we are doing is that we are, in terms of the foundries, we are working with the leading foundries. But what we paid extra attention to is that whatever technology that we use has a manufacturing plant in the United States. Now, turns out the two leading foundries, TSMC and Samsung, both have US manufacturing locations. And we wanted to make sure that those chips could be manufactured in the US. Very, very important aspect for us. And so, you know, even though some of the Chinese companies have moved to other parts, the reality is that the US has restrictions about access to leading edge process technology. There are tariffs. Are those companies bypassing tariffs using certain corporate models or not? Those are questions that are yet to be answered completely. But that's something that we have to do that for the US vendors. Awesome. Yeah. So let's go into the product itself a little bit more. And I like what you noted about like the difference of tariff restrictions. I think the geopolitical issue with ASIC importation itself is an under discussed topic. So from what we're seeing from public numbers right now, it looks like you guys released 22 joules per tariff for this machine with a plus or minus 8%. Curious a little bit more about some of these details. You guys can take this question as you want. Is this on the chip level or the system level? What do you think about that 8 % deviation from the 22 joules per tariff hash? Is that like higher or lower than you're seeing from competitors? And then from there, let's talk about the four nanometer chip that you guys are working on. Yeah. So this is the first product is four nanometers. The specs that we've done are at a system level, not at a chip level, because at the end of the day, customers care about system level specs. And then the plus or minus 8%, what happens is when you're in the leading edge process technology node and you're building the silicon, when you're manufacturing the silicon, there's a deviation in the capabilities of the silicon. And so that is really to capture that. Now, in terms of our competitors, we've seen numbers that are plus or minus five, and actually in other cases, plus or minus 10 % as well. Now we are early in the game. So as we get more and more learnings from building larger quantities of products, we can refine those numbers, make it a little more tighter. We may be able to improve some of these efficiency numbers as well, but we are coming from the point of view of being somewhat conservative. Other vendors before us have tried to be aggressive and then have missed expectations. And we hear that from customers. And so our goal based on our prior track records is to try to see if we can be somewhat conservative and delight people on the upside. So that's our philosophy. Barun, anything? No, I think that's... Great. I don't know if you guys have released these numbers and it'd be curious to see if you have or have not, but hash rate and then power at the wall. Have you guys discussed those publicly yet? Yeah, the hash rates, you know what, the world before our product, which is up till now, is that typically people give you a miner that runs at a certain terahash rate and has a certain efficiency. And what happens is that today, if you want to be able to go up and down, people refer to that as overclock or underclock. That requires either a firmware change or a different firmware, or you have to change the control board, or you have to write software on top of it to turn on and off these systems very kludgy. It's really, I would say it's still in the dark ages, so to speak, relative to the rest of the technology infrastructure. And that's because Bitcoin came from being more of a hobbyist product to the data center scale product. And it has done a bunch of batch work along the way. What we have in our systems is we have built in from the ground up the capability to go up and down in terahash rates, all the way from zero to 185 in our air -cooled systems, in our immersion systems to much higher numbers, some of which we haven't disclosed. And you can do that very fast. And that's super important for people who want to work with energy partners to bring down energy consumption and take advantage of some of those curtailment related economics that we get in a very rapid timeframe. So we have all of those capabilities built into the system. We refer to that as energy tune. It's patented technology. And I think people are going to love it when they see it. So we've done that. But in addition, what we've also done is we've made sure that these systems keep operating at high temperature ranges, which again is critical, as you know, in certain parts of the country, temperatures are getting hotter than they used to be, and miners are shut down for 10, 20, 30 percent of the time. In our case, it will keep running and will keep hashing and keep providing the economics to the miners. Awesome. For the four nanometer part, I want to go back to that. The energy efficiency, there's this general idea that as we go down to the size of the node from eight to seven to six to five to four, it's supposed to become more energy efficient. Tell me a little bit about that and energy efficiencies you guys are capturing within your new model and also how it compares to the market as of now. Yeah. So today, most of the products that are shipping are in five nanometer or older process nodes. To achieve energy efficiency, you do need leading edge process technology. In addition, what you also need is design and architecture to enable that. These Bitcoin mining systems run at very, very low voltages, and to make that work at very low voltages relative to every other product is a complex engineering and technology effort. And so we have both of those things in motion. As I said, we started the company literally a year and a half ago, and we have brought to market a product in record time, matching the best in class that exists in the world today. We have more tricks up our sleeve as we bring additional products to the world at Halfing and beyond. And we believe we are going to be the best in the world, if not within plus or minus a few percent of the best in the world. Both now as well as we go forward. So super confident of that. Right now, as you know, the world is in kind of the 21 plus or minus in terms of deployments. We think it's going to get much better than here. But when we talk to customers, we see there are certain customers that are very sensitive in cost of the miners. Others are more sensitive in the efficiency. But both of them care extremely about the variability and the energy tune features, which we think is going to become a must have requirement going forward. So yeah, let's talk about the auto tune features that you guys have put into this. From my understanding, there's a patent around this. How do you guys look at this technology compared to some of the other technologies that are out there? I mean, there's definitely lots of different firmware options for controlling a miner and controlling its temperature setting. What are you guys sort of doing different when you're building this unit holistically? Yeah, very different. Very different than anything that has been done before. So in the past, typically at a single miner level, you could actually run it at a certain terahash rate or shut down the miner, put it in sleep mode. Then more recently, people have started to put together an eco mode, if you will. That's the state of the art that exists today. And what people have tried to do is solve some of these fundamental problems through putting software level turning on and off of the miners. Not the most efficient way to do it. What we have done it is things that are inside a miner. And so we have these capabilities that are unique, very different than anything else that's been done before, where inside the miner through API calls, the hardware is able to change and adjust the various terahash rates and so forth. And what all you do is you just give all these inputs to the miner, and the miner figures out how to do it and does it, rather than trying to do it in a crudgy fashion outside through some software mechanisms. So that's very different, and that's where we have a patent for the energy tune and autotune capabilities. As you might expect, things like Bitcoin price, energy cost, transaction fees, temperature, all of those are inputs into trying to figure out what is the optimal point for the miner to run. More and more variables are coming into the picture. And to top it off also, autotune has the ability to go to tens of thousands of miners and be able to do an energy tune on each of them at the get -go. And we are trying to get to a point where we can do it in a few seconds so that it is in line with customer requirements where curtailment can happen at that short period of time. Now, there's a distinct difference between... So the autotune is one feature and there's the energy tune is another feature. Now, the energy tune also to couple with what Rajeev mentioned, we are using a machine learning techniques to do dynamic voltage frequency scaling so that each chip can be tuned to get to the optimal joules per terahash. Are you a retail or institutional investor interested in Bitcoin mining companies? The MinerMag brings you free data and analysis from all major NASDAQ listed Bitcoin mining operations to know who stands out. Check out visualized metrics and data dependent stories at theminermag .com. Filecoin's mission is to create decentralized efficient and robust storage infrastructure for humanities information. Join the Filecoin Foundation team October 3rd through 5th for PhilVegas, the first major Filecoin community event in North America in 2023 to explore how to adapt data storage for an AI centric future. Participate in conversations and hear keynotes focused on the importance of data integrity in the world of artificial intelligence. Register to attend and learn more at phil -vegas .io and make sure to use promo code miningpod. Did you know that you can make more money by merge mining other networks? Check out makemoremoneymining .com for information on BIPs 300 and 301, a proposal to bring more revenue to Bitcoin miners through sidechains and merge mining called DriveChains. Increase your mining revenues and learn more about participating in Bitcoin governance by visiting makemoremoneymining .com. Are you a miner who wants to activate Bitcoin improvements? Check out activation .watch, see what Bitcoin improvements the Bitcoin community, developers, and miners are considering, and show support by signaling from one of many BIPs up for consideration.
Bloomberg Daybreak Europe
Fresh update on "taiwan" discussed on Bloomberg Daybreak Europe
"London I'm Stephen Carroll let's bring you the latest market moves the 30 -year Treasury yields 4 .99 % 7 basis points higher this morning brushing at the highest levels it's seen since 2007 the the 10 -year yields 7 basis points higher as well at 4 .86 % and as we're continuing to see that across the Treasury markets at the sell -off spreading to other markets as well as we're looking at equities selling off significantly in Asia the Nikkei 225 in Tokyo closing down 2 .3 % the Hang Seng is now 1 .3 % lower in Hong Kong the cost being sold down by 2 .5 % as well European stock futures are in the red too down 0 .4 of 1 % for your stocks 50 futures for 2100 futures are down by a quarter of 1 % we're seeing also futures on Street Wall dip further into the red S &P minis down by 0 .6 % Nasdaq futures are 0 .7 % lower this morning the Bloomberg dollar spot index is two tenths stronger the Japanese yen still hovering close to that 150 level crossed it briefly yesterday but today at 149 .26 two tenths of one percent weaker the euro weakening against the dollar 104 .60 down a tenth of 1 % the pound too also down by a tenth on cable at 120 .60 that is your Bloomberg radio business flash now Bridgewater associates founder Ray Dalio says cash is a good investment at the moment and doesn't says he doesn't want to own bonds right now he's been telling Bloomberg that firms really know how to use artificial intelligence will do well Ray Dalio has been speaking to Bloomberg's David Weston at the Greenwich Economic Forum US China relationship relations in are a number of areas on the think of red lines so in other words these irreconcilable differences are right on the ring so if I was to take let's say the Taiwan issue it's an irreconcilable issue and on so it's right at the line the the breaking point is if the United States said we are in favor of the independence of Taiwan
Markets Daily Crypto Roundup
A highlight from Crypto Update | Hints of Green Shoots After the Crypto Winter With Host Noelle Acheson
"This episode of Markets Daily is sponsored by Kraken. It's Tuesday, September 19th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Cryptos Macro Now newsletter on Substack. On today's show, we're talking about hints of green shoots after the crypto winter, going by recent announcements of crypto funds. And just a reminder, CoinDesk is a news source and does not provide investment advice. Now, a markets roundup. Crypto volatility certainly does seem to be coming back, judging from price moves over the past 24 hours. Yesterday, we talked about how prices were rising. Well, around about midday Eastern time yesterday after we recorded, they fell sharply, with Bitcoin dropping almost 1 .7 % in half an hour. Early today, they rapidly climbed, with Bitcoin again breaking through $27 ,000. Then there was another sharp drop and another climb. And well, you get the picture. At 10 a .m. Eastern time today, Bitcoin was trading at $26 ,975, down just over 1 % over the past 24 hours. Ether was trading at $1 ,638, down 1 .2%. Bitcoin does seem to be leading the market here. Last week, I talked about Bitcoin dominance, which is Bitcoin's percentage of the total crypto market cap. Another metric worth following to gauge market sentiment is the ratio of Bitcoin and Ether prices. Simply, Bitcoin's price divided by Ether's price. When it is rising, Bitcoin is outperforming. And when it is falling, Ether is outperforming. Over the past month, this ratio has risen by more than 6%. In traditional markets, investors around the world are braced for a slew of central bank rates decisions this week. The announcements kick off with the U .S. Federal Reserve's decision tomorrow. And throughout the week, we will get announcements from 10 more, concluding with Japan on Friday. In the U .S., as we mentioned yesterday, expectations are for a pause. Tomorrow, we also get updated economic projections in which we could see the FOMC Committee signal even higher interest rate expectations and a pushing out on the calendar of rate cuts. The inflation data we saw last week showed that core inflation is still, at 4 .3 % year -on -year, more than double the Fed's target of 2%. And headline inflation for August showed a higher -than -expected uptick while the latest jobless claims continue to show employment strength. There is little reason for the Federal Reserve to even hint that rate cuts might be coming soon. Concerns about some tough language from the Fed tomorrow, as well as the impact of rising oil, have pushed U .S. stock indices lower in trading so far today, with the S &P 500 down almost 0 .4%, the Nasdaq down almost 0 .7%, and the Dow Jones down almost 0 .3%. Over in Europe, the FTSE 100 is up slightly, as traders await a U .K. inflation print tomorrow. This is expected to show an uptick to back above 7 % year -on -year, a figure which could influence the Bank of England's rates decision on Thursday. Eurozone indices also appear to be in a wait -and -see mode, with the German DAX down less than 0 .2 % and the Euro Stoxx 600 flat in trading so far today. In Asia, Japan was down almost 0 .9%, as investors sold chip stocks after Taiwan's TSNC, the world's largest chip manufacturer, signaled slowing demand. In China, the Shanghai Composite was more or less flat today, as traders await a decision from the central bank on the benchmark loan prime rate. At the monthly fixing tomorrow, the central bank is expected to leave the rate unchanged, as economic stabilization and a weakening yuan are easing the pressure to relax monetary policy. The Hang Seng index was feeling more buoyant today, rising almost 0 .4%. The relief may be the result of good debt restructuring news from the troubled Chinese real estate sector. In commodities, the Brent crude benchmark continues its climb, almost reaching $96 per barrel earlier this morning. It has since retraced, but is still up over 1 % over the past 24 hours, currently trading at around $95 .40 per barrel. The rise continues to be driven more by supply constraints than by strong demand. On top of the production cuts from Saudi Arabia and Russia, we now have lower production likely in the US. Yesterday, the US Energy Information Administration said that output from the top US shale -producing regions is on track to fall for the third consecutive month in October to its lowest level since May. Gold continued to inch higher, up over 0 .6 % to trade at $1 ,935 per ounce. Stay tuned. After the break, we'll take a look at hints of a new season for crypto funds. Meet the all -new Kraken Pro, the powerful, customizable, beautiful way to trade crypto. It's Kraken's most powerful trading platform ever, packed with trading features like advanced order management and analytics tools, all in a redesigned, modular trading interface. So head to pro .kraken .com and trade like a pro. Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the crypto assets market can lead to loss of funds and profits, maybe subject to capital gains tax. Welcome back. After a long, empty crypto winter, it looks like activity in crypto funds is finally picking up. Yesterday, Coindesk reported that blockchain capital has raised $580 million for two new crypto funds, one for early -stage companies and protocols, and another for late -stage investments from Series B onward. This is notable, given that most of blockchain capital's investors are traditional institutions such as university endowments, private foundations, financial institutions, sovereign wealth funds and US pension plans. While they may not be ready to buy crypto assets directly, institutions are investing in the industry. Also this morning, we heard that the digital assets subsidiary of Nomura, Japan's largest investment bank and brokerage group, is launching an investment vehicle for institutions called the Bitcoin Adoption Fund. The fund offers long -only exposure to Bitcoin, with custody handled by Comainu, which was founded in 2018 by Nomura in partnership with crypto companies Ledger and CoinShares. Those aren't the only significant signs of increased activity we've had over the past week. We also heard that Electric Capital is aiming to raise $300 million for a new fund, Cassie Kornbank, the largest traditional bank in Thailand, has created a $100 million fund to invest in Web3 and AI startups, crypto platform BitGet has established a $100 million fund to invest in the trading ecosystem, and investment firm Reverie has launched a $20 million crypto venture fund. All this over the past seven days. Green shoots, maybe? That's it for today's show. You can reach us at podcasts at coindesk .com. Do also please send us questions you'd like us to address on the Spotify Q &A. Follow us. And if you like the show, please leave us a five star rating on whatever platform you're listening to us on. Markets Daily is produced and edited by Michelle Musso, with executive production by Jared Schwartz. I'm Noelle Acheson for Coindesk. We're back tomorrow with more market news and insights.
Bloomberg Daybreak Europe
Fresh "Taiwan" from Bloomberg Daybreak Europe
"Four basis points at 4 .84 % the two -year yields holding steady at 4 .16 % we have seen the yields yesterday up about 15 basis points on the day in late trading the biggest move in a year the sell -off gathering pace after an unexpected jump in job openings reinforced speculation the Federal Reserve isn't done raising interest rates we're seeing a sell -off on equity markets today as well the MSC Irish Pacific index 1 .5 % lower the Nikkei in Tokyo's down by 1 .9 % the Hang Seng 1 0 .6 % lower as the Caspian soul reopened after its holidays down by 2 .25 % European stock are futures in the red down two tenths of 1 % for Eurostock's 50 future its S &P E -minis on Wall Street are down by tenths three of 1 % that market closed down by 1 .4 % yesterday on currency markets the Bloomberg dollar spot index is a tenth of 1 % stronger the euro's trading at 104 .70 the pound at 120 .80 on cable the Japanese yen a tenth of 1 % weaker 149 .19 is where that is trading that's after we have seen movements on the Japanese markets the five -year yield rising to the highest since 13 earlier and 10 -year swaps hitting 1 % matching the effective yield cap in place by the Bank Japan on commodity markets oil prices are a touch weaker this morning Brent crude backup over $90 a barrel although $90 .79 or WTI is trading at $89 .10 that your is Bloomberg radio business flash now Bridgewater Associates founder Ray Dalio says cash is a good investment of the moment and that he doesn't want to own bonds right now he says that firms that really know how to use artificial intelligence will do well Ray Dalio has been speaking to Bloomberg's David Weston at the Greenwich Economic Forum US China relationship relations are in a number of areas on the brink of red lines so in other words these irreconcilable differences they're right on the brink so if I was to take let's say the Taiwan issue it's an irreconcilable issue and so on it's right at the line the the breaking point is if the United States said we are in favor of the independence Taiwan of that's the equivalent of a declaration of war and because of our political issues that are now you're internally going to be likely to push that because of the fact that in many Congress and so on would say we will defend Taiwan at all cost and we will give them this and you could even cross that line it's what my point is it's right at the edge that's that we have a chips issue and we have a technology and sanctions issue the reason in World War II war with Japan you had the cutting off of the oil and then the sanctioning them taking their payments so you have a somewhat similar situation chips is like oil back then and it's a very very delicate issue you have the geopolitical issue which also is manifest in each of them and so on supporting the supporting Ukraine and other geopolitical issues which are also right at the edge neither country wants to go to war everybody's afraid of what that war would be like because it would be devastating economically and politically so you will see the sort of the postponing these issues will remain and probably intensify over the next five to ten years but they will be at that edge there will be in San Francisco the APAC conference and you will see President Xi get together with President Biden but have we a political situation and so on that's it in China they are also dealing with a number of big problems as we're dealing with our problems they're dealing with their problems those problems are first the debt problem that has now been allowed to pass through the into the you system meaning have real estate and real estate counts for about seventy percent of savings people put their money in real estate and about twenty percent of their economy and there was a bubble and then that's passing through and that goes down to local governments that were living on debt and also land for real estate purchases and so that's a structural issue they need to do a debt restructuring and debt restructuring is a very difficult thing to do they can do it but it's also very politically impactful because those who are you determine whoever's making these decisions determines whose wealth and how they divide the pie so you have that going on you have a move to what president Xi calls the hundred -year storm on the horizon in other words he believes there's a hundred -year storm on the horizon that's the sort of things that we're now talking about and with that hundred year storm on the horizon you have a very autocratic in other words if you don't behave well you'll lose your head and so on and that kind of environment which by the way in war periods and so on has been what most countries have moved toward or something and so that's having an effect on the economy we have the US -China conflict itself which is affecting what countries what companies do. Do I want to be in China or do I want to be in Vietnam? That's one of the things that's benefiting neutral countries. So they think okay if the ASEAN countries India and other places can be a beneficiary of that where do I want to be but that's also hurting them and then then of course that we have a world economy which is relatively slow moving that affects their exports so they're going through a very difficult period. That is the Bridgewater Associates founder Ray Dalio speaking to Bloomberg's David Weston at the Greenwich Economic Forum. This is of course we're watching really high drama play out on global bond markets treasuries bulldozing their way through markets to the greatest extent since we saw the start of the pandemic traders bracing for 10 -year treasury yields to top 5 % they're currently at 4 .84 % but yields are rising further in trading today. this relentless sell -off in government bonds sparking trouble to cross major bond markets we've seen australia's 10 -year yields rising faster than their us peers over the past week despite the central bank they're remaining on hold as well and market analysts say speaking to Bloomberg saying that these moves are starting to cause worries across all asset classes global bonds down three and a half percent in 2023 so far and that really is a huge huge market story that's driving out so interesting in that context to see Ray Alio saying that he doesn't want to own bonds right now as we're seeing these big moves on markets as well we'll have a check of the markets and a reminder of our top stories for you coming up next this is Bloomberg Daybreak Europe if we want faster growth and also an to taxes ever ratcheting higher that is possible but there are no shortcuts but of course I want to cut taxes the best tax cut that I can deliver for the British people right now is the half inflation inflation is a task. Christine Lagarde and the European Central Bank are working hard to keep inflation under control. Bloomberg Daybreak Europe on Bloomberg radio good morning I'm Stephen Cowell you are listening to Bloomberg Daybreak Europe on London DAB radio it is 6 .30 here in the city let's get check a on where markets are moving for you so we're talking about the huge rise in treasuries continuing today with 10 that -year yield up four basis points a 30 -year yield also at four basis points a 30 -year yield now close to 5 % point 4 nine seven percent in fact as the sell -off in Asian equity markets is gathering pace the Nikkei in Tokyo down by 1 .8 % the Hang Seng is 1 % lower European stock futures looking at more more moderate losses at the moment european stock euro stocks 50 futures down two
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Crypto Update | Hints of Green Shoots After the Crypto Winter With Host Noelle Acheson
"This episode of Markets Daily is sponsored by Kraken. It's Tuesday, September 19th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Cryptos Macro Now newsletter on Substack. On today's show, we're talking about hints of green shoots after the crypto winter, going by recent announcements of crypto funds. And just a reminder, CoinDesk is a news source and does not provide investment advice. Now, a markets roundup. Crypto volatility certainly does seem to be coming back, judging from price moves over the past 24 hours. Yesterday, we talked about how prices were rising. Well, around about midday Eastern time yesterday after we recorded, they fell sharply, with Bitcoin dropping almost 1 .7 % in half an hour. Early today, they rapidly climbed, with Bitcoin again breaking through $27 ,000. Then there was another sharp drop and another climb. And well, you get the picture. At 10 a .m. Eastern time today, Bitcoin was trading at $26 ,975, down just over 1 % over the past 24 hours. Ether was trading at $1 ,638, down 1 .2%. Bitcoin does seem to be leading the market here. Last week, I talked about Bitcoin dominance, which is Bitcoin's percentage of the total crypto market cap. Another metric worth following to gauge market sentiment is the ratio of Bitcoin and Ether prices. Simply, Bitcoin's price divided by Ether's price. When it is rising, Bitcoin is outperforming. And when it is falling, Ether is outperforming. Over the past month, this ratio has risen by more than 6%. In traditional markets, investors around the world are braced for a slew of central bank rates decisions this week. The announcements kick off with the U .S. Federal Reserve's decision tomorrow. And throughout the week, we will get announcements from 10 more, concluding with Japan on Friday. In the U .S., as we mentioned yesterday, expectations are for a pause. Tomorrow, we also get updated economic projections in which we could see the FOMC Committee signal even higher interest rate expectations and a pushing out on the calendar of rate cuts. The inflation data we saw last week showed that core inflation is still, at 4 .3 % year -on -year, more than double the Fed's target of 2%. And headline inflation for August showed a higher -than -expected uptick while the latest jobless claims continue to show employment strength. There is little reason for the Federal Reserve to even hint that rate cuts might be coming soon. Concerns about some tough language from the Fed tomorrow, as well as the impact of rising oil, have pushed U .S. stock indices lower in trading so far today, with the S &P 500 down almost 0 .4%, the Nasdaq down almost 0 .7%, and the Dow Jones down almost 0 .3%. Over in Europe, the FTSE 100 is up slightly, as traders await a U .K. inflation print tomorrow. This is expected to show an uptick to back above 7 % year -on -year, a figure which could influence the Bank of England's rates decision on Thursday. Eurozone indices also appear to be in a wait -and -see mode, with the German DAX down less than 0 .2 % and the Euro Stoxx 600 flat in trading so far today. In Asia, Japan was down almost 0 .9%, as investors sold chip stocks after Taiwan's TSNC, the world's largest chip manufacturer, signaled slowing demand. In China, the Shanghai Composite was more or less flat today, as traders await a decision from the central bank on the benchmark loan prime rate. At the monthly fixing tomorrow, the central bank is expected to leave the rate unchanged, as economic stabilization and a weakening yuan are easing the pressure to relax monetary policy. The Hang Seng index was feeling more buoyant today, rising almost 0 .4%. The relief may be the result of good debt restructuring news from the troubled Chinese real estate sector. In commodities, the Brent crude benchmark continues its climb, almost reaching $96 per barrel earlier this morning. It has since retraced, but is still up over 1 % over the past 24 hours, currently trading at around $95 .40 per barrel. The rise continues to be driven more by supply constraints than by strong demand. On top of the production cuts from Saudi Arabia and Russia, we now have lower production likely in the US. Yesterday, the US Energy Information Administration said that output from the top US shale -producing regions is on track to fall for the third consecutive month in October to its lowest level since May. Gold continued to inch higher, up over 0 .6 % to trade at $1 ,935 per ounce. Stay tuned. After the break, we'll take a look at hints of a new season for crypto funds. Meet the all -new Kraken Pro, the powerful, customizable, beautiful way to trade crypto. It's Kraken's most powerful trading platform ever, packed with trading features like advanced order management and analytics tools, all in a redesigned, modular trading interface. So head to pro .kraken .com and trade like a pro. Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the crypto assets market can lead to loss of funds and profits, maybe subject to capital gains tax. Welcome back. After a long, empty crypto winter, it looks like activity in crypto funds is finally picking up. Yesterday, Coindesk reported that blockchain capital has raised $580 million for two new crypto funds, one for early -stage companies and protocols, and another for late -stage investments from Series B onward. This is notable, given that most of blockchain capital's investors are traditional institutions such as university endowments, private foundations, financial institutions, sovereign wealth funds and US pension plans. While they may not be ready to buy crypto assets directly, institutions are investing in the industry. Also this morning, we heard that the digital assets subsidiary of Nomura, Japan's largest investment bank and brokerage group, is launching an investment vehicle for institutions called the Bitcoin Adoption Fund. The fund offers long -only exposure to Bitcoin, with custody handled by Comainu, which was founded in 2018 by Nomura in partnership with crypto companies Ledger and CoinShares. Those aren't the only significant signs of increased activity we've had over the past week. We also heard that Electric Capital is aiming to raise $300 million for a new fund, Cassie Kornbank, the largest traditional bank in Thailand, has created a $100 million fund to invest in Web3 and AI startups, crypto platform BitGet has established a $100 million fund to invest in the trading ecosystem, and investment firm Reverie has launched a $20 million crypto venture fund. All this over the past seven days. Green shoots, maybe? That's it for today's show. You can reach us at podcasts at coindesk .com. Do also please send us questions you'd like us to address on the Spotify Q &A. Follow us. And if you like the show, please leave us a five star rating on whatever platform you're listening to us on. Markets Daily is produced and edited by Michelle Musso, with executive production by Jared Schwartz. I'm Noelle Acheson for Coindesk. We're back tomorrow with more market news and insights.
BTV Simulcast
Fresh "Taiwan" from BTV Simulcast
"All the March way back and this is a level that basically shows skittishness in the market. The levels actually may not March to be clear with the VIX hitting 20 .8 think other the thing I want to get to is particularly around some of the bond moves that we've been seeing because bond are traders targeting treasury tenure yields above 5 % within weeks to start on the terminal. It tells little you bit a more about the technical level for the US long treasury it's around 20 your oversold line is at 30 but traders have bought a number of bearish is for new risk as the treasury market extended its sell -off most of the options has been in November and December in terms of the expiry's at BNP Paribas. They're staying year -end target you're going to be seeing 4 .3 % for tenure yields. The other thing I'm looking at is the energy equation Brent crude specifically since September 1 a story of volatility OPEC plus keeps talking about their goal of achieving market stability this goes against their mandate and the and see the joint monitoring committee is going to convene later Wednesday delegates are not expecting any change in terms of policy but nonetheless it's a chance for them to look at their numbers because they keep saying that the other data from the IEA and a few other outlets are to be taken with a grain of salt we'll see whether they will give any further guidance on that front this is a Brent over 24 days what a ride I it's want to get been I to want some of the action unfolding in Asia more broadly ever along is in our Singapore studio ever how negative has the bleed been today it's absolutely bad in the markets in the region as investors take their cue from the weakness in u .s stocks as well as treasuries the MSCI Asia Pacific headed towards technical correction South Korea markets back from a long break and the KOSPI slumped as much as 2 .3 % leading the losses in the region today the Nikkei also headed for a fifth day of pain now we are seeing how that higher for longer narrative is affecting not just stock markets but also the Japanese currency jolted by that US jobs unexpectedly openings data rising let's take a look at how the yen fed overnight that was at it one was point during New York trade actually reaching the 150 level and it within matter a of seconds move back down to 147 against the greenback so this sparked the speculation that there was intervention Japanese officials perhaps stepped in to intervene but the top currency official show in the country has so far declined to confirm if they have indeed stepped in to prop up the yen we are seeing some commentary from not just the Japanese officials but also those in in South Korea and Taiwan saying that they will step in to stabilize FX if necessary commentary not just from these central bankers but also those in Southeast Asia from Malaysia Indonesia Asia and Thailand certainly the big moves in the FX space drawing the attention is not just of traders but also Yusef central bankers thank you very much for the roundup but we'll get back to you later on in the program I I want to return to one of our top stories and that is Kevin McCarthy he's been toppled as the US House Speaker by dissidents within within his own party ending his tumultuous nine months in the job and sending a fractious Congress aggressive for this array I believe I can continue to fight maybe in a different manner will not run for speaker again I'll have the conference pick somebody out to Bloomberg's Derek Wahlbank for a bit more perspective Derek there was a little bit of thinking a out there that he might survive for a bit but the tables turned rather quickly in the I know you know Yusef we're talking about Kevin McCarthy faced a decision on the spending bill where he knew that if he put forward the compromise that all that always always had the votes to pass that he would risk a a rise up from his right flank that's eventually what he did and that's exactly what happened in return in the end McCarthy did not have the votes to stay as House Speaker it was a very small group of Republicans joining all democrats in opposition now this is like most parliamentary systems systems anywhere around the world right you know that the the leader serves at the pleasure of the majority of the house and if the majority of the house no longer backs you you no longer have the confidence of the house and that's that's exactly what happened to McCarthy there was some talk and some noise about whether or not democrats could would have or should have come to his aid and save them but there has been a lot bridge democrats have been quite angry with McCarthy some don't trust him to keep his word on on certain things that others say that they're not really thrilled with the way that that some of the moves moves against president joe biden have gone at and and basically there just wasn't a lot of goodwill will there so the party opposite was not really uh... in in a mood to go and try and stick their necks out for for mccarthy in the end he had a razor sharp majority of about four and when you have a very small majority and part of the deal to get in was to to make it easier to let people get rid of you ultimately that's exactly what happened the record thank you for running us through some of the media implications uh... tumultuous hours few for sure derek wall back there in singapore when i get to the important economic news of the moment the u .s. job openings that unexpectedly increase in the month of august fueled by a surge in white collar postings and highlighting durability of the labor market bloomberg still these are some of the stuff from hong kong so for anybody it hoping to see weakness continuing to mount in the u .s. economy still probably wrong yes he said i think that at this point this is again one of those indicators showing that resilience of the labor market here you had hiring edging up layouts remaining low i want to point to that quits rate so this is the number of people proportionally who are voluntarily leaving their jobs looking for other jobs is still at twenty twenty levels of being very low indicating that i'm you know there's not a whole lot of optimism even if you quit your job i'm you know going up against this really competitive market uh... i think at this point what we're looking at you safe is on you know it look this is this is one indicator it's it's a very unexpected indicator these estimates were topping everything that we were saying among economists surveyed by bloomberg so you know obviously there's more to come in terms of charting out the fed's policy as we go forward but i think coupled a with lot of the chat we've heard recently about rates being higher for longer this debate over whether there's going to be one more interest by the end of the year this is uh... certainly uh... i think it's over adding to that that pressure that idea that the really cooled off joe i thank you very much for the deeper and layer us as the central thesis in hong kong the third elements that were watching file the of infamous individual now that is uh... sandbank and free that this is him against the u s in terms of uh... the illegal implications of the been almost a year after collapse the of the f t x crypto exchange that he co -founded bloomberg that bankman sam frees trial began in federal court here in manhattan on tuesday worries he is facing seven charges related to fraud and money laundering the trial proceedings began with jury selection multiple pools of jurors were evaluated for any bias so that they ultimately can decide his feet here sam bankman
Bloomberg Radio New York - Recording Feed
Monitor Show 19:00 09-18-2023 19:00
"With Bloomberg, you get the story behind the story, the story behind the global birth rate, behind your EV battery's environmental impact, behind sand, yeah, sand, you get context, and context changes everything. Go to Bloomberg .com to get context. Yeah, it's art, I guess. They're not even arguing that. All right, well, we've got plenty for you. No blank spaces here on this program the next hour of Bloomberg Daybreak Asia begins right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act, this is Bloomberg Radio. This is Bloomberg Daybreak Asia for this Tuesday, September 19th in Hong Kong, Monday, September 18th in New York. Coming up this hour, Instacart prices its IPO at $30 a share. Disney is exploring the sale of its Indian streaming and TV business, and China's central bank meets with JP Morgan, Tesla, and others in a vow to support foreign businesses. A stop -gap government funding bill agreement, Hague arguments on charges of Russian genocide, China flies the most fighter jets near Taiwan in at least three years. I'm Ed Baxter with Global News. Struggling Manchester United's injury woes deep in. I'm Dan Schwartzman. I'll have that story and more coming up in Bloomberg Sports. That's all straight ahead on Bloomberg Daybreak Asia, on Bloomberg 1130 New York, Bloomberg 99 .1 Washington D .C., Bloomberg 106 .1 Boston, Bloomberg 960 San Francisco, Sirius XM 119, and around the world on BloombergRadio .com and via the Bloomberg Business Act. In about an hour from now, we'll have trading in the Japanese equity market after a holiday on Monday.
The Aloönæ Show
A highlight from S13 E09: Diversified Crypto Mutual Fund Success Stories
"Hello, welcome to The Elone Show. I'm your host, John Mayelone. In this episode, don't have any regulars because reasons, I guess. As for our guest, he's from Brisbane, Australia. He manages the world's first diversified crypto mutual fund since 2016. Ladies and gentlemen, I give you Jeremy Britton. Thanks Jamie. Great to be here. You're welcome. So how's life? Life is sweet. It's springtime here in Australia. So, you know, time to put away the jumpers and put on the t -shirts, get out amongst nature. Life's good. All right. Very good. And have you been up too much recently? Oh mate, it's been so exciting. I mean, in the crypto world, I mean, we've been flying solo for a long time as the world's first crypto mutual fund, trying to make it easy for people to get into crypto. And for the first three years, we had no competitors at all. So we just benched ourselves against Bitcoin. We have managed to outperform Bitcoin for the last six or seven years in a row. But that's that's all we could measure ourselves against because there was no competitors. And a couple of years ago, we got some competitors into the market. There's two or three fund managers who came in. Sadly, they were not very good. One of them had 43 percent of their money invested in FTX before FTX went broke and they closed down. But, you know, in the last couple of weeks, we've got BlackRock, Fidelity, ARK Investments, Wisdom Tree and a whole bunch of major financial players coming into the market. So it's actually a very exciting time right now. Very nice. So what inspired you to set up this mutual crypto diversified fund of some sort? Now, my my career is like when I was 19, I started as a financial planner. So it's my first real job. And I would create portfolios for clients and say, hey, you go shopping at this grocery store, so we should get some some stock in that and you fly with this airline. So we should get some stock in that. And I would specialise in US and Australian stocks and shares. But obviously, I couldn't be an expert on China or India or Taiwan. So that's where we'd use mutual funds. And there was a person who lived in Taiwan who knew all the best stocks and shares to buy. So they would have mutual funds and would invest for a bit of diversification into into other areas. Because, as you know, you know, with with stocks and shares, when one thing goes down, something else goes up and you've got to have a balance in there. So I was I was usually creating these portfolios for clients with a mix of direct stocks and shares, as well as some mutual funds, and found over time that most people didn't really care that much about the individual stocks and shares, as long as they were making a decent amount of money.
The Crypto Overnighter
A highlight from 664: FTXs Guilty Execs & Ripples Strategic Acquisitions
"Good evening, and welcome to The Crypto Overnight -er. I'm Nickademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax and let's get started. And remember, none of this is financial advice. And it's 10pm Pacific on Saturday, September 9th, 2023. Welcome back to The Crypto Overnight -er where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight we dig into the guilty pleas rocking FTX and their embattled founder. Ripple's legal tango with the SEC takes a strategic turn. Intangym secures a groundbreaking Visa deal that could redefine hardware wallets. The Federal Reserve navigates a stable coin conundrum while France tests out crypto ad regulations. And finally, Taiwan sketches out a blueprint for crypto oversight. Buckle up. Ryan Salameh, a former executive at FTX, is set to plead guilty in a Manhattan federal court. Salameh was the co -chief executive at FTX's Bahamas subsidiary. He faces allegations related to the collapse of the cryptocurrency exchange and is accused of being a straw donor for political campaigns. Salameh is also implicated in potential violations related to political donation regulations. He agreed to forfeit approximately $1 .5 billion, including real estate and a Porsche. Salameh's guilty plea comes weeks before former FTX CEO Sam Bankman -Fried is set to stand trial. Salameh admitted to making $10 million in political contributions, falsely labeling them as loans. SPF is currently in jail for witness tampering. His trial is set to commence on October 3rd. He faces allegations of orchestrating a multibillion -dollar fraud scheme, misappropriating FTX's customer funds for personal expenditure, high -risk investments in Alameda Research, and political donations. Bankman -Fried's defense team has been pushing for his temporary release, claiming that his Sixth Amendment rights are being violated due to limited access to defense materials and poor internet connectivity in his jail cell. The guilty plea of Salameh, a top -level associate at FTX, is a seismic event in the crypto world. This isn't just a lone wolf. This implicates the entire operation of FTX and its leadership. Salameh's plea deal includes the forfeiture of a staggering $1 .5 billion, an amazing sum that was part of a scheme that has now crumbled, leaving a trail of legal chaos. Salameh's role as a straw donor for political campaigns is especially alarming. It was a blatant attempt to manipulate the political system, using money as a tool for influence. This is the kind of centralization and corruption that the crypto community stands against. It's a betrayal, not just of legal standards, but of ethical principles that many in the crypto world hold dear. The timing of Salameh's plea, just weeks before Sam Bankman -Fried's trial, is also telling. It raises questions about whether Salameh will cooperate with prosecutors, potentially delivering a crushing blow to SPF's defense. Meanwhile, the defense team for Bankman -Fried is fighting an uphill battle. Their attempts to secure his temporary release have been futile, and the limited access to defense materials only adds to their woes. The situation also raises questions about the fairness of the trial process. But let's not forget, these limitations are a result of Bankman -Fried's own actions, including witness tampering that led to his imprisonment. You thought FTX's woes were a wake -up call? Hold that thought. As one exchange buckles under legal scrutiny, Ripple is beefing up its arsenal. Let's explore how Ripple is turning the tables in its legal match against the SEC. But before we dive in, remember to hit that like and subscribe button, folks. You're not going to want to miss a single episode.
Bloomberg Radio New York - Recording Feed
Monitor Show 14:00 09-05-2023 14:00
"Rick, Vivek or ten -year -old Grace? You hear the way she asked that question? No, I'm all about Grace, too. I want to make sure she's eyeing office in a higher land. I just can't imagine what her parents must be telling her at dinner. By the way, China's going after Taiwan. Ask Vivek. Rick, Jeannie, thank you so much. Great to have both of you here. Bloomberg Politics contributors are a great panel and our friends on Sound On. You even get to see them this time. Join us on YouTube. I'm Joe Matthew. Hour two of Sound On starts now. Bloomberg Sound On. Politics, policy and perspective from D .C.'s top names. Federal spending combined with too -lax monetary policy has produced this 40 -year high on inflation. China policy is driven basically by domestic politics. American families are finding themselves further behind the eight ball. To get anything done in this Congress, it's going to have to be done in a bipartisan way. Bloomberg Sound On with Joe Matthew on Bloomberg Radio. They're back. Welcome to hour two of Sound On. I'm Joe Matthew in Washington. As senators return to the Capitol after the big summer recess, House members return next week. And there is still no agreement on how to fund the government, on how to avoid a shutdown. And we've got some difficult decisions to make here. We're going to compare notes just ahead with Bloomberg Congress reporter Megan Scully. We'll talk about the challenges facing Washington with Congressman Don Beyer. The Democrat from Virginia joins us, serves on the Ways and Means Committee and will be central.
What Bitcoin Did
A highlight from Part 3: How Bitcoin Fixes Money with Lyn Alden
"And then China, Taiwan, and, you know, they're classified as developing still. But for many practical purposes, they've, at least, you know, they pretty much reach developed status in many ways. And so they've been able to kind of climb that ladder. Also, Singapore was able to do it. So there's been these handful of Asian countries that have been able to do it. But when you look at how many countries there are out there, it's shockingly small percentage of the number of countries that able to climb that ladder in the past 50 years, especially if you say, okay, let's take away oil, let's say you don't you don't find just this massive treasure trove of oil in your country, or something like that. The percentage that have climbed that ladder is strikingly small. And I think El Salvador is taking some of the initial steps that would make that possible. And we just have to, you know, this is a multi decade process. So you have to see how well they can stick with it. This show is brought to you by Wasabi, who I am using to keep my Bitcoin private. Now Wasabi is the easiest way to send and receive Bitcoin privately. And even for non technical people like me, it is effortless and provides privacy by default. Now with Wasabi, there is no minimum amount. So you can start coin joining straight away. And Wasabi makes coin join transactions together with BTC pay and Trezza users and BTC pay server users can make payments in coin join, which saves on fees and is a privacy improvement. Also, Wasabi just dropped a badass new feature. Now Trezza suite users can coin join directly on the hardware wallet, which obviously is very cool. Now if you want to find out more, please head over to Wasabi wallet .io, which is W -A -S -A -B -I -W -A -L -L -E -T .io. Next up we have BitCasino. Now BitCasino was established in 2013. And it's the world's first licensed Bitcoin casino. It is trusted by 10s of 1000s of players worldwide. And not only do they have cutting edge security, but they offer fast withdrawals and VIP experiences that money can't buy. BitCasino has over 2800 games and tournaments for you to try out. And with their 24 seven live chat support, you can always get help if you need. Now if you want to find out more about BitCasino, the first Bitcoin casino to win an EGR award, head over to BitCasino .io, which is B -I -T -C -A -S -I -N -O .io. And please remember to gamble responsibly. Next up we have Unchained. Now the events and exchanges and your private keys, but taking ownership of your Bitcoin keys, you know what, it can be daunting. That's why our good friends Unchained offer a personalized concierge onboarding service. Now I have personally been through this process and set up the vaults for my football team Real Bedford. And you know what, I know this is a personal recommendation here. But the multi SIG solution which Unchained have created is so easy to use. They ship the required devices to you, and they walk you through it step by step so you can understand exactly how the vaults work. Now after you set up Unchained continues to provide you with regular support to help you get comfortable with controlling your keys. So if you've been putting off taking control of your Bitcoin wealth, Unchained's concierge onboarding is a simple way for you to get started. Get it done sooner rather than later. You can book your onboarding today at unchained .com forward slash what Bitcoin did, and at the checkout you can get $50 off with the promo code what Bitcoin did. That is unchained .com unchained .com forward slash what Bitcoin did.
The Hugh Hewitt Show: Highly Concentrated
A highlight from Chairman Mike Gallagher (House Select Committee on China) and Virginia Governor Glenn Youngkin
"Cable news, noisy, boring, out of touch. That's why Salem News Channel is different. We keep you in the know. Streaming 24 -7 for free. Home to the greatest collection of conservative voices like Dennis Prager, Jay Sekulow, Mike Gallagher, and more. Salem News Channel is unfiltered and unapologetic. Watch anytime on any screen at snc .tv and local now channel 525. I talked with Ro Khanna yesterday, your colleague, about a lot of things, but I did not cover your Washington Post article because I wasn't aware of it at the time I talked to Ro Khanna. Do the Democrats agree with you in the Washington Post article that we ought not to be funding with American dollars Chinese aircraft carriers? Some do. I mean, I think everyone can agree upon at least that aspect of it, that American dollars should not be funding the Chinese Communist Party's military buildup. Make no mistake, they're embarked on the largest sustained peacetime military buildup since World War II, potentially ever, depending on how you defined it. We shouldn't be investing our money in Chinese aircraft carriers, fighter jets, artillery shells, advanced nuclear technology, but that's what's happening. We launched a bipartisan investigation into BlackRock and MSCI. My ranking member, Raja Krishnamoorthi, has expressed a ton of concern about American dollars funding Chinese military buildup. In many cases, this money is going to companies that have already been flagged on various government blacklists for posing national security risks. What's crazy, Hugh, is that it's not illegal, but it's suicidal. We're subsidizing our own destruction. We're allowing pension funds, university endowments to invest in Chinese companies that are building things designed to kill Americans in a future conflict. No matter where you draw the line for decoupling, let's say you just want transparency measures, as some Republicans do. You want a broader set of restrictions on American money going into China, as I do. I think what's inarguable is that money shouldn't be funding military companies and technology companies like AI companies in China that are perfecting their genocidal surveillance state. Now, the Financial Times also ran a story this morning that Goldman Sachs has been taking Chinese money, laundering it in effect. It's not criminal, but they're hiding the origin of the money, and they're buying U .S. companies. It's the opposite of what BlackRock is doing, which is sending American money to Chinese companies. They're taking Chinese money and putting it into American companies. Do you want to stop that flow as well? Well, particularly if these are national security -related companies, I saw that some of the investments were in the cyber space and in the supply chain space. It all depends on what type of control comes with the investment, but potentially, that could give them access to information or effective control over companies. That would be bad for American national security. I think it's definitely worth looking into. The bottom line is, Congress, we need to step up and legislate a fix to some of this stuff, whether it's on outbound capital flows, which the Biden administration just released an executive order that's filled with loopholes. It's a step in the right direction, but it doesn't go far enough. We need to legislate that when it comes to Chinese money being invested in American companies. We tried to fix CFIUS to get at some of that issue, but clearly, it's not up to the task. We need to legislate a fix to that. Here's the other thing, Hugh, that I find interesting when it comes to American investments in China. In addition to being morally reprehensible, the Chinese funds have been terrible investments. Over the last five years, the S &P 500 has soared to about 78%. Meanwhile, things like BlackRock's FXI ETF, which invests in these Chinese large -cap companies, it's down 30 % in that same period, even as Chinese GDP supposedly doubled. That doesn't make sense. A lot of the funds we looked at in our investigation similarly underperformed drastically. Where did the money go? Is it going into corrupt Communist Party coffers? I don't know. My only point is that beyond the national security concerns, just as an investment proposition, China looks bad. There are systemic risks to a continued investment in China that range from having your assets seized in the event they try and take over Taiwan, or just the inherent risk involved in things like variable interest entities, for which there are no shareholder protections. Part of what we're trying to do on the committee in a bipartisan fashion is to engage Wall Street in a dialogue about this. It just seems insane to me that we would continue to send our money to China, where it's being used for nefarious purposes. Well, you know, Chairman, the investment bankers make their bonuses based upon the amount of money they move through. So they have every Adam Smith -driven incentive to just blow you off. Does your panel have subpoena power, by the way? We do. I would grab Larry Fink. I would grab Jamie Dimon. Separate hearings. And I would put them down and say, let's talk about this because it's a national crisis. Let me ask you, by the way, I think if I had a bell, I would have rung it when you said Sisyphus. I believe that violates the acronym rule, does it not? Oh, you got me, Hugh. Committee on Foreign Investment in the United States. I apologize. $10 to Food for the Poor, because that's it. It's $10 tip jar for Food for the Poor. When you use an acronym. I want to talk to you about increased applying unilaterally. I did because you're a repeat offender. Like, you know, that on the sentencing guidelines, people who do the same thing over and over again, they get fined more. Princeton people are particularly prone to this. And then when you pick up a Ph .D. from Georgetown, you really become. And then you go to Marine. Did you ever go to the command general staff college or the war college or anything like that? No, I got out as a captain before I had to do all that before my brain was corrupted. Well, they have many acronyms there. I'm listening to a bio of Eisenhower and I can't keep up. Let me ask you something, Chairman. Ro Khanna was on and we were talking about artificial intelligence. And he said they're sitting down with the speaker about what to do. I have no preconceived opinions, but I do think they might want to just add the Select Committee on Engagement with the Chinese Communist Party, and artificial intelligence regulation, because you've got a smart group of people. It's working. Would you be opposed to that if the speaker and the minority leader wanted to expand the jurisdiction of the committee to look at what we do about A .I.? Not at all. And we've actually, in our early investigation, had numerous conversations about A .I. and I would expect those to be part of future policy reports. We release, I would note Ro Khanna is my ranking member on the innovation subcommittee on armed services. And we see eye on a lot of things related to military innovation going forward and have a very good working relationship. And he's willing and I think him going on your show is a testament to this. One thing I really respect about Ro is he's willing to mix it up. Obviously, he's very progressive. We disagree on a lot of issues. I'm right. He's wrong. But I respect his intellect and his willingness to mix it up. Three quick ideas here on A .I. for small steps we can take in this Congress as we consider sort of the broader long -term implications. Well, related to what we were just talking about, American venture capitalists, American money in general shouldn't be allowed to invest in Chinese A .I. companies like Baidu. It just makes absolutely no sense. Again, we're subsidizing our own destruction. Two, when it comes to autonomous vehicle technology, which is going to be one of the most widespread deployments of A .I. in a way that really affects the American people over the next 10 years, right now of the 10 -ish companies that are allowed to test in America, at least three I believe are Chinese, but our companies are not allowed to test in China or expand really at all in China. And as a matter of reciprocity, that's wrong. We shouldn't allow Chinese A .V. companies here in America. And then finally, the ethical guidelines that the Pentagon has for the use of A .I. are a decent start. They're pretty good. I actually think we could build off those, expand those across the federal government with the goal of not innovation suppressing on A .I. or slowing down our efforts in this area, but also ensuring there are guardrails so that we don't have uncontrolled A .I. that does things that Americans are concerned about. And then you start to build out the concentric circle so we're on the same page with our allies. Start with our closest allies, the Brits and the Aussies, and then expand from there, and particularly focus on countries that have a unique technological capability in A .I. If we do that, if we get sort of the overall ethical framework right, I actually think we can turbocharge innovation in this space and make sure that we win the A .I. race and the CCP does not win the A .I. race. Well, it is a national security issue, but I've got three suggestions for you and your colleagues. First of all, a stand down order to every regulatory agency out there, the FTC and everybody else. They have no idea what they're doing. They just don't. A .I. is new. It's not meant for old regulatory structures like the Interstate Commerce Commission trying to regulate airplanes. Doesn't work. Number two, you've got to change the pay scale for technologists. Now, they used to have a special pay scale out at China Lake for the rocket scientists that we needed at China Lake and other advanced weaponry systems. We need a technologist pay scale that is just way better than we've got. We're going to lose every technologist that DARPA has. And then number three, and this is what I want to ask you about, we need visibility. I mean, walk in rights to every room in Silicon Valley and every A .I. company in the United States. By walk in rights, I mean, if a guy from DARPA shows up and they knock on the door at Metta and he says, show me to your A .I. lab, they don't get to lock the door. These are like nuclear science. We can't let this stuff be developed in private. Do you agree with me? I agree with that. I guess the flip side of that, though, Hugh, is enough research security such that, you know, an MSS operative, a Ministry of State Security think KGB in China couldn't just walk in to the same facility or United Front operative. And honestly, your reference to China Lake, I think, is a great instructive example here, because when it comes to the things we put in our weapons systems, we have a very old suite of things called energetics, which make our weapons go and go boom. We develop more advanced energetics at China Lake. It's called CL20. It stands for China Lake 20. The Chinese stole that technology. That's what they put in their weapons systems. And that's why their their rockets go farther than us and have greater destructive impact. So that's a lesson in how not to do things. And we remain too risk averse to use things like CL20, even though it's now old technology. It was developed in the 80s. So a lot of examples that we can use from there in order to apply to the A .I. competition today. I'm going to geek out. The Office of Personnel Management, AKA OPM, so I don't get fined. OPM had a separate schedule for scientists at China Lake that was policed by the deputy director I replaced, the deputy director at OPM. He was a scientist who had worked there. And he said, you know, no one's going to work for us unless we pay them. It was like double the highest number. Rowe said yesterday we got to pay him like we pay our doctors. No, no, no. We're not going to. This is the most lucrative field in the world. You got to give him a piece of the intellectual property. I mean, you really have to come to grips with the fact that technologists make the dollars. And I don't know that the American people really understand the difference between what the private sector pays a level one technologist and what the government will. We're going to lose everybody.
Bloomberg Radio New York - Recording Feed
Monitor Show 18:00 08-29-2023 18:00
"The over concentration in a country like taiwan for example makes me wonder what's going on behind the scenes in life boardrooms and companies around the world like how much they're doing and doing it quietly yeah but it's hard i mean how are they thinking about india now how are they thinking about india now it's a big market that's how they're thinking about it. We talked about it with the EV story uh... sounds like you're going to have a lot to talk about. Doug, thank you. Appreciate it. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. This is Bloomberg Daybreak Asia for this Wednesday August 30th in Hong Kong Tuesday August 29th in New York. Coming up today, disappointing economic numbers reduce bets on a U .S. rate hike. A U .S. court ruling paves the way for the first Bitcoin ETF. China's largest banks prepare to cut interest rates on existing mortgages and deposits to help shore up the economy. Vladimir Putin will be heading to China. Hurricane Idalia continues to strengthen in the Gulf before hitting Florida tomorrow. The ten drugs the government will negotiate prices for have now been named. While in sports, round one of the U .S. Open continues in New York. I'm Dan Schwartzman. I'll have news and sports coming up. That's all straight ahead on Bloomberg Daybreak Asia. On Bloomberg 1130 New York, Bloomberg 99 .1 Washington D .C., Bloomberg 106 .1 Boston, Bloomberg 960 San Francisco, Sirius XM 119, and around the world on BloombergRadio .com and via the Bloomberg Business Act. It's the Wednesday edition of a Daybreak Asia and if you're joining from the Asia Pacific good morning here in New York. It's a minute past 6 p .m. on Wall Street. I'm Doug Krisner at the Bloomberg Interactive Broker Studio.
The Hugh Hewitt Show: Highly Concentrated
A highlight from Chairman Gallagher on What Bret Baier and Martha MacCallum Should Ask the GOP Candidates About Xi and CCP
"We're proud to announce our brand new ACLJ Life and Liberty Drive. Our legal teams will be focusing on the issues that you, our ACLJ members, have told us matter the most to you, life and religious liberty. Join the ACLJ in the fight to keep America free. Welcome to today's podcast, sponsored by Hillsdale College, all things Hillsdale, Hillsdale dot edu. I encourage you to take advantage of the many free online courses there. And of course, a listen to the Hillsdale dialogues, all of them at Q for Hillsdale dot com or just Google Apple, iTunes and Hillsdale. Morning Glory America Bonjour. Hi, Canada. I'm Hugh Hewitt. Tomorrow night, eight Republicans will meet on the stage in Milwaukee for a debate. I am certain that China will come up the Chinese Communist Party, but I'm not sure how. Brett Baer, of course, coming up later in the program. Martha McCollum, two superb professionals, the equal of anyone else in our business, will be asking the question. But I thought I would talk it through with the chairman of the House Select Committee on Engagement with the Chinese Communist Party. Mike Gallagher, congressman. Good morning. Great to have you. Thank you for joining me. It is great to be with you, Hugh. We're going to come back around to this kind of war, which I finished last night on the recommendation of you. It is a remarkable book. And I had no idea how awful the chai comms were to our American prisoners. I just I didn't know. Did you know that before? Did the Marines teach you that when you were in the Marines? No, there's there's two things that I think, well, a lot of actually our modern thinking about how to prepare people for when they get captured. Think survival of Asian resistance and escape school, which I attended when I was in the Marine Corps actually comes out of the experience of the Korean War, particularly some politically sensitive moments when a few American captives refused actually to go home. There was, of course, this controversy during that time period post Korean War in the 50s about this idea of brainwashing. This is prominently expressed in the fictional book The Manchurian Candidate, which became a major American movie. But a lot of our thinking about how to better prepare pilots in particular because they get shot down for resisting in captivity actually comes out of that period. Well, a couple of takeaways I'll never forget. There are no Turks died in the camps. The Turks are the toughest people in the world, and none of them died in the Chinese Communist Party camps. And the Americans didn't eat everything they could eat because they didn't like it and they died of starvation. But the fact that the Chinese communists treated our men that way is a tell because they've reverted to this mode. They were the hardcore Maoist, Leninist mode in 1950 through 1953, and they've reverted. And that's what I want to talk to you about. I want to ask you at length. We got a lot of time this morning and thank you for the time. If you were advising Brett and Martha based upon your six months, what would you tell them are the major takeaways that you've learned as the chairman of the Select Committee? And how would you suggest they be turned into a question? Take your time, because that's a big that's a big question. What have you learned thus far in six months? And how would you convert that into questions for our candidates? Well, I think the overall thing to realize for these candidates and this advice is worth what they're paying me for it is that there is, in my opinion, something called the commander in chief test. It's not you know, you're not graded A through F. I think it's a pass fail endeavor, but it is absolutely critical. Put differently, I'm not myopic enough to believe that foreign policy or a particular issue of foreign policy is going to win the candidate candidate the election, but it could very well lose them the election. The final thing to say about the assumptions going into this when it comes to foreign policy is that the conventional wisdom is that it doesn't really matter from a political electoral perspective. And there's a lot of social science to support that. I just would say it doesn't matter until it does. It doesn't matter until things go haywire on the world stage and suddenly voters are looking to a prospective commander in chief to communicate, if nothing else, a sense of safety that I have the temperament and the plan to keep America safe in a very dangerous world, which leads, I think, to the answer your question more than anything else. I think these candidates need to communicate that they have a clear understanding of the threat we face in the Chinese Communist Party, the scale and scope of this threat. Why this isn't just a matter of some obscure territorial disputes in the South China Sea. This is indeed a global competition. The CCP has global ambitions. What happens in Xinjiang, what happens in Beijing is not going to stay there. They are intent on exporting their model of total techno totalitarian control, which leads to the second point that you need to find a way to contrast that threat to enduring the and inherently superior American values. And I do believe that this is a contest between two fundamentally incompatible systems of government. And it's unlike anything we've seen since, of course, the old Cold War. So communicating the stakes, communicating who we're dealing with in the nature of a Marxist Leninist regime that will stop at nothing to ensure that they survive at the expense of their own people. And that is the enemy of freedom around the world is the most important thing. In fact, I would say even more important than any particular policy position is just communicating that understanding of the threat and the prioritization of the threat, a recognition that as president, the most important issue that you will be dealing with as commander in chief is how to deter a war with the CCP in the short term and win a new Cold War with the CCP over the long term. So let's put that in the form of a question for Brett and Martha, because I think you're right, I am looking at, of course, I've always looked at every one of these debates as an audition to be commander in chief. Eventually, there comes a choice with the Democrat. But right now, when I vote in the Virginia primary, I will vote based on who will be the best commander in chief. And because that's what matter. 9 -11 matters. What is the W do on 9 -11 that matters? What does W do? The Afghanistan and Iraq. What does anyone do on any moment of crisis? What do they do in the situation room? Figuring out how to elicit that about China is a difficult thing. So you've been doing nothing but this for six months. And by the way, recap for our audience and Pittsburgh Steeler fans what you have been doing for six months, because they may never have heard of the select committee. This might be the first day they're listening to the audience. No acronyms or five dollars in the tip jar for food for the poor. Well, the speaker of the House created the select committee on the CCP to do two things. One is to communicate why this matters, why anybody in northeast Wisconsin or Pittsburgh or Ohio should care about the threat posed by the CCP, to shine a light on all the things that they're doing, whether it's threatening to invade Taiwan, whether it's establishing illegal police stations on American soil, whether it's infiltrating American universities or attempting to build spy bases in our near abroad, to explain why it matters and why your average American should care about it. The second thing is to identify policies and pieces of legislation that can pass even in divided government. In the 118th Congress, what is the center of gravity in terms of steps that we can take in order to put ourselves on a better position to beat the CCP in this short and long term competition? So that's what we've been doing. We've broken it down, essentially, as though this isn't a perfect organization into three main lines of effort. And I do think this reflects our overall lines of effort, our grand strategy against China basically has three main components. One is military competition. What are the things we need to do to deter a war over Taiwan in the near term, as well as ensure that we maintain our dominant military position over the long term? The second is what I call economic statecraft. How do we selectively decouple from China so they don't have a coercive leverage over us so they can't threaten, for example, to cut off the export of advanced pharmaceutical ingredients in order to bring us to our knees? And then the third line of effort is what I call ideological warfare or ideological competition, which is not only how do we rediscover a language for talking about American values and incorporate values and human rights back into American grand strategy, but also how do we better defend our institutions from Chinese Communist Party subversion, from something called United Front Work, from traditional espionage, things like that. So we aren't corrupted and divided from within, which is what the Chinese Communist Party is trying to do. Wang Huning, who's Xi Jinping's top lieutenant in the 90s, wrote a book called America Against America, in which he talks about Americans as greedy, factional. And that that title, America against America, I think reflects their overall strategy, which is to divide Americans against Americans and thereby make it impossible for us to compete. So we've been developing policy recommendations along each of those lines. We've put out two reports, one on military competition, one related to human rights. And we're going to be putting out further reports. So, you know, I think those are useful starting points for for candidates who want to prepare for a debate in terms of where's Congress at on this issue? Where's the bipartisan center of gravity? Where can you potentially build on some of our work? But that's what we've been doing for six months. It's trying to understand and explain the threat and then identify policy solutions that help us to combat that threat. How would you put that in the form of a question by Brett or Martha? Well, there's the overall prioritization question, you know, what is the biggest threat to American national security, which is a bit boring, but no, it's not that's not boring. That that is that is the question, isn't it? Shouldn't that just be asked? What is the number one threat to American national security and why? Shouldn't that be it? Yeah, I think that that's table stakes, right? That's a good diagnostic question. And then it also allows the candidates, if they want to use their full time and I forget how much time they get to really articulate the key distinction between them and the Biden administration, because if you read the Biden administration's national security strategy that they talk about China as a pacing threat, although I'm hearing now that the Pentagon is saying don't say pacing threat, say pacing challenge or competitor, because we obviously don't want to provoke the CCP for whatever reason. I've described this as kind of like a Voldemort phenomenon. There's this belief that the more more we say things like New Cold War or say that the CCP is doing bad things, that it will somehow become more true, which I think is absurd. I'll be right back. Sherman Gallagher is going to stay with me through the break and then we're going to bring him back and then we're going to do that again. And we're going to talk to him for 15 minutes this morning about this. I can't believe I'm doing that. 15 minutes with Mike Gallagher coming right at you, America. Stay tuned. I'm back now with Chairman Mike Gallagher. This is the segment between the radio segments, so you don't get to hear this unless you're watching it on YouTube or on the on the television station. Chairman, in terms of what level should we expect of our candidates knowledge? I see your Green Bay Packers thing yet. Do you know the Browns cleared 38 million in cap yesterday by restructuring Joel Bentonio and Miles Garrett's contract? We have no we have the most cap space in the NFL. We are the team to beat. We will see you. I actually I don't think you're making it to the Super Bowl this year. We are going to be in the Super Bowl this year and you are not ready for this. I'm glad this isn't on the air because this is a serious conversation. But you had to do that little thing. And I'll I'll just go get my brown sweater and just put it on during this segment like that. I'm going to wear this all the time now on the air because we're going to the Super Bowl. Chairman, do you know that we cleared Miles Garrett contract yesterday? You know what we do? Do you follow sports at all or do you just do ChaiCom stuff? I don't follow Brown's contract minutia. I'll confess. I'll confess that, though. I was I was yesterday. Someone said that I had the potential to coach for the Browns after I helped them with a constituent case issue, to which I said I would never coach for the Browns on an Intel. All right. Let me get serious again. I'm going to try to go off the off the rail. We'll get back on the rails. How many times have you guys held public hearings? Oh, gosh, I think 10 at this point, approximately 10. You had at least one set of war games. You have more war games coming. We do. We have we have at least one more coming up that's going to be more focused on economic and supply chain issues. OK. Do you think the candidates know anything about that? I really do want to try and use today to focus their attention on China. Do you think they know anything about what the select committee has been doing? Have you been approached by any of them? I think some do. It's part of the reason I wrote an op ed on this that appeared today in The Wall Street Journal just came out was an effort, maybe shamelessly, to draw attention to some of the things we're doing, because I think it creates some unique opportunities. I mean, to me, you know, the most and this reflects my bias in thinking that hard power is the most important variable on the world stage. I think a candidate who can articulate what we need to do to rebuild the military in general, but really the Navy in particular, which is, as you know, Hugh is really struggling right now. It needs to be our priority force in our priority theater. It's not. We're going backwards. There's questions about focus, warfighting prowess. You know, I wrote a report with the help of Admiral Montgomery about the lack of warfighting focus in the surface Navy with Tom Cotton, Dan Crenshaw and others. I mean, I think that's a massive opportunity for a candidate really to take the ball on defense and go a few layers deep beyond just peace through strength, military good, China bad. You go a few layers deep on that and sort of communicate that you have a coherent plan. Doesn't need to be super detailed. Doesn't need to be a 50 page white paper about everything we need to do. But just as an overall strategy for fiction, I'm going to get your comms team in trouble again. I haven't seen this plan that you and Cotton worked on. How can I not have seen this plan? Well, this is a year ago. You got to blame Cotton's comms team for this because he was OK. And usually it's good to blame Tom Cotton. He's on next hour. I'll do that. Is that widely available? Yeah, it's Cotton did it with four of us in the house. It was over a year, a year and a half ago, kind of in response to all of these ship collisions. Some of the reports that we were getting from active duty sailors and just the changes over the years to training in the surface Navy. We did a deep dive drawing on the expertise of Admiral Montgomery and others. I will give him about that in the next hour and I'll get a link and I'll make sure it's posted out to the candidates. Don't go anywhere. I'm coming right back with Chairman Gallagher. Welcome back, America. I'm Hugh Hewitt, Chairman Mike Gallagher of the House Select Committee on Engagement, the Chinese Communist Party returns. We talked during the break and we got off course because we did a little football trash talk. But now we're back on course. Chairman Gallagher, have you read this book? You had Kabul, the untold story of Biden's fiasco and the warriors who fought to the end. It it made me furious. It absolutely made me furious. Have you had a chance to read it yet? No, but my friend Commander Salamander, who's great in his podcast, Midrats, I highly recommend, just did a podcast with with the authors. So I listened to it. It's not the same, but I am now looking forward to reading the actual hard copy. Well, the end of the book, which I don't know of Commander Salamander got to because I didn't get to it and I talked to him for a long time. It's about how the chai comms came in as soon as we left. They have designs on Bagram. They know what the air raids mean. They know what the strategic minerals mean. It's just a great example of what happens when we retreat in the world. In fact, in the in the this kind of war book you had me read, I wrote down some notes. A retreat once started as the most difficult of all human actions to reverse. And they were talking about the retreat of the Norcs at that point. And then we would retreat later when they counterattack with the chai comms. But we retreated from Afghanistan and they have come in. Have you focused yet on what they're doing there? It hasn't been, admittedly, a subject of a hearing. You know, we have experts, you know, regional experts and Afghanistan experts. I think the key thing to bring it back to the the presidential debate, obviously the obvious thing to do is to connect the surrender to terrorists in Afghanistan, our abandonment of our position, our abandonment of billions of dollars worth of military equipment to then the collapse of deterrence in Ukraine and Eastern Europe, because I do believe that our feckless position in Afghanistan sent a clear signal of weakness to Vladimir Putin. And no wonder Vladimir Putin ignored all of our warnings leading up to the invasion on February 24th because we look so weak on the world stage and we allowed terrorists to completely take over the country. And I think also that has had a negative impact on our deterrent posture in in the Indo -Pacific, across the Taiwan Strait. You mentioned critical minerals. I also think this is a huge opportunity for presidential candidates to articulate a plausible path towards reducing our dependency on China for critical mineral processing. They control 90 percent of the processing. Right now, I think our attempts to wean ourselves off of our to to establish some form of semiconductor manufacturing independence are not going to be successful, in part because the Biden administration has placed so many onerous regulations on grants for chips, fabrication facilities. But if a Republican candidate, particularly one with a business background or with a gubernatorial background, came in and said, here's our strategy when it comes to advanced pharmaceutical ingredients, critical minerals and rare earth processing, tie that to a robust domestic economic agenda. That's a massive opportunity for someone trying to pass the commander in chief test, because the reality is we are going to have to reclaim our economic independence from China in key areas. The progressives are experimenting with one way to do it. We need to identify a way that is fundamentally free market, but not but nonetheless achieves the actual goal of reducing our dependency on China. Chairman Gallagher, there's only one veteran on the stage, Ron DeSantis. Mike Pence has got a son and a son in law on active duty. Of course, Nikki Haley's husband is deployed. Those three know about this in terms of of why is China a threat? Is it a fair question to ask? Why is China a threat? What is it that worries you about China? Is that a fair question? If so, how would you answer that or suggest they answer that if you are one of the people on the stage? Well, first of all, I do think DeSantis has been really good on China and probably the best in the field. I was watching the forum that they did in Iowa. I forget what it's called, the Iowa Faith and Family Forum. And he proactively brought up China as an issue and talked about what he's done in Florida to combat the threat, talked about the threat in global terms. And so the most of the discussion focused on Ukraine. And I understand that that's more of a politically divisive issue on the stage. And so there is a you know, I think the moderators will want to identify the differences between the candidate thus far. Governor DeSantis has been talking in clear and unapologetic language about why the CCP is a threat and what he would do to combat it, which is greatly appreciated. More to your point, as a Navy veteran, I think he has a huge opportunity to be the Navy guy, be the guy who's going to rebuild the Navy and put it in a position where it can it can deter Xi Jinping from attempting to achieve his lifelong ambition was to take Taiwan by force. So to answer your question, Vivek just told me last week, we'll give them Taiwan after we achieve semiconductor independence. In other words, Vivek understands Taiwan is important for its semiconductor. Your colleague on the committee, Ro Khanna, tweeted at me last night when I was already offline that that doesn't do the trick. That's not why we're worried about Taiwan going down. Who's right? Well, obviously, our interests in Taiwan extend far beyond semiconductors. Our interests predate Taiwan's emergence as a semiconductor powerhouse. And if the concern from Vivek and I think it is that our dependence on TSMC for semiconductor manufacturing needs to be eliminated, I just would say two things. It's highly unlikely that we're going to achieve semiconductor independence by 2028. TSMC is investing far more money than the CHIPS Act is investing right now. Even under a Republican president, we would struggle to wean ourself off our dependency. But if the CCP had control of Taiwan, they would still be able to hold the rest of the world economically hostage. And that is the issue. Semiconductors or other or some sort of domain of economic competition. If they had Taiwan, they would be able to completely dominate the region through which trillions of dollars of international trade go. The other thing I would say, it's I mean, we got to go to break. I'll come back to go to break. We'll be right back with Chairman Gallagher during the break and then one more segment beyond. Don't go anywhere. America, I'm Hugh Hewitt. Portions of The Hugh Hewitt Show are brought to you by Food for the Poor. So I'm back with Chairman Gallagher, Chairman Vivek's answer to that is I'm going to get India to cooperate. And if Taiwan closes the Taiwan Straits, we're going to close the Malacca Straits. Ro Khanna says that's that's crazy. That doesn't work. I don't know what the answer is, but I know what Vivek has told me. I don't think he agrees with you, but I'll let him speak for himself. I don't want to put words in his mouth that we have to worry that much about the Taiwan Strait. Well, he's obviously very smart. I would say this with Marxist Leninist regimes, their appetites grow with the eating. So I think it would be a mistake to think that if we just surrender Taiwan on a date certain that we wouldn't have to worry about the problem. If they're the dominant regional power, they're one step closer to becoming the dominant global power. And that, I think, is the answer to your earlier question. Why? Why is the CCP a threat? Because they're trying to destroy our geopolitical position. Primarily by convincing us to destroy ourselves, they believe, as we mince words about whether they're a competitor or an adversary, they certainly believe that they're in an existential war with the free world led by America and that China will win, rendering America and our constitutional system of self -government subordinate, humiliated and wholly irrelevant on the world stage. So you can sort of think of it as as an assisted suicide. You know, they're trying to expedite our collapse. They provide the chemicals, fentanyl, the collapse in prosperity. Covid, IP theft, economic warfare and the self -loathing and depression via political interference and information warfare. So I think the the the threat would not stop after Xi Jinping had taken Taiwan. I think it would only expedite and become greater. So if you could read Xi Jinping's mind, what is he thinking about us? What does he want to see happen to us? I think he wants us to look inward and to abandon our position on the world stage and to be consumed with internal political battles. I also think he likes seeing us embrace this almost the CCP's narrative that America is an evil country. America is a neo colonial racist hellscape. I mean, this is CCP propaganda that a lot of Americans have embraced. I think ultimately he wants us to lose faith in ourselves as a force for good in the world. And ultimately, over time, he thinks the rest of the world is going to Finland dies more in the CCP's direction as an alternative model of government and world leadership, in part because America has lost faith in itself. That's why I think primarily the hard power is the most important variable. This is an ideological competition overall. And ignoring the role ideology plays in the competition is a fatal flaw. And so we need to find a way to press the candidates on that as well. You know, the we got two minutes before we come back. The ideological competition is quite simply not discussed. And I don't think our media is familiar with it. They're not stupid. They're ignorant of the ideological. They don't even believe it exists anymore. Chairman, have you run into that? Do your Democratic colleagues believe that there are such things like Leninist and that that the 20th century ideological competition is back with a vengeance? Well, I think for two and a half decades, we tried to take the communist out of Chinese Communist Party, and this belief persists that, well, they're not really communist. They're not really Marxist. They've embraced forms of capitalism and they're they're rational actors. And I think this is a dangerous way of thinking to go down, particularly under Xi Jinping. The party has embraced its Marxist Leninist roots. Xi's spirit animal is, in fact, Stalin. He looks to Stalin for guidance on how to operate. And so a candidate who understands that and can articulate that, I think, has a massive opportunity to distinguish themselves. The Democrats sort of come at the ideological competition through human rights. And there are a lot who genuinely believe in the cause of human rights. And though there are times when we have to prioritize between security concerns and human rights, this is when dealing with China, that's not an issue at all. We're coming right back. Stand by, chairman.
Available Worldwide
A highlight from Kavanaugh Livingston - First Time EFM and Management Consultant
"Welcome to Available Worldwide, the podcast by, for, and about the accompanying partners of the U .S. Foreign Service. Little did you know that responding to a post on Facebook was going to get you invited to be on the podcast itself. I thought that was a very clever hook, so I am very impressed. Okay, so you feeling warmed up? Yeah, that's great. This is Lauren Steed, and I'm here today with Kavanagh, who is currently posted in, I believe, Monterrey, Mexico. Is that correct? That's correct. And I invited her here today because she's done a lot of work recently helping support EFM careers in her community, and she has her own career journey that has been just as crazy, I think, as all of the career journeys I've heard about on Available Worldwide. So I'm really excited to talk to her today. Kavanagh, we start our episodes with what we call quick -fire questions. So I'm going to ask you three questions. You answer them in, you know, three to ten words, and we'll get started. So first off, I already kind of spoiled this one, but where are you currently located and who's there with you? I am here in Monterrey, Mexico, and with my spouse, who's a Foreign Service Officer with the State Department, and my 17 -month -old daughter. Wow. So daughter while posted to Mexico or prior to? We moved here. She was only four months old. Probably baby puts a big crimp in this question, but do you consider yourself a night owl or an early bird? Even with a young toddler now, I still consider myself a morning person. Okay. Well, good. That is definitely what toddlers prefer as well. Do you have a superpower? This is Steph's favorite question, and it's kind of one of the themes of Available Worldwide. What is it that helps you succeed in life? I would say my superpower is that I'm pretty action -oriented. I have an ability to convert ideas into actions, which I think can be an understated skill set, but I think that's been an important part of my success today, career and personal. No wonder you worked in project management then. We'll get to that later. I was excited to read your bio because one of the things you mentioned is that you two grew up in this kind of itinerant lifestyle of moving around a lot. Do you have cherished childhood memories of that, or was it traumatic? All of us parents are afraid it is. Yeah. That's the thing, right? I think every experience is different for every person, for every child. It can be very difficult to move around and leave your friends and move to different countries, but I think precisely because I was young and that was what I was used to so early on, it was a really fantastic experience for me. I wouldn't change it for the world. We lived in countries, mostly in Asia because of my father's job. I lived in Taiwan, Singapore, and Malaysia. These are amazing countries to grow up in. You meet people from all over the world. I went to international schools and I'm still really good friends with all the people I graduated high school from. I know it can be hard. It's not for everybody, but I personally really loved living in different countries. That's why I'm really excited that my own daughter will have that opportunity to be, I guess, a third culture kid, as they say. What's the longest you've ever lived in one place? Well, I would say at this point, maybe it's dating me, but probably Washington, D .C. After I graduated from college, I moved to D .C. to start my career and stayed there, lived there until my husband joined the Foreign Service, so we moved to Monterrey. That has actually been the longest so far in my life. I was calculating it out for myself recently and I realized that now that I've hit the three -year point at this house that I live in in China, this is actually the longest I've lived in one place since before I graduated high school. That's amazing, yeah. When you really think about it, it's kind of incredible, right? It's a little bit horrifying, I guess, too, but it is exciting, I agree. I'm looking forward to my children's opinions on TCK life as well. Has living in Monterrey and having an infant affected your sense of self? I know a lot of EFMs are like, I was really career -oriented until I got married to my partner and now I'm in a place where everything is redefined. How has that transition worked out for you from independent person in D .C. to now? It's the question, right? For me personally, I became a mom and an EFM and kind of a stay -at -home mom all at the same time, so a lot of change happened for me very quickly. I think that while it was not easy to go through a lot of that significant change going from, like you said, I was very extensively involved with my employer, I led initiatives, I worked on business development, I did tons of client projects, so that was a lot of my life. Then all of a sudden have this little person consume everything in my whole life, my attention, that it's an extraordinary experience to become a parent, but it's very difficult. It can be very challenging for sure. Here in Monterrey, I was enabled to actually convert my job into a telework arrangement for many reasons that I'm sure a lot of your listeners can really relate to. What I thought was an opportunity after my maternity leave to go back to work, I wasn't able to do that. That has also been another adjustment for me. I'm taking on a lot of change and I'm losing identities I've had, but I've also gained new ones. That's a way to help me, that motivates me to grow through this lifestyle we've signed up for. I also say a lot has happened in this past year alone, but I wouldn't change it for anything. I think while Monterrey is a soft landing into the Foreign Service, as they say, I'm grateful for that too, because I think it's allowed me to adjust to a new identity. That's allowed me to become a lot more familiarized with EFM employment and getting to know other EFMs at post, for example, even getting to make local friends. I don't think I would have had any of that opportunity if I was working full time because I had a very busy schedule. That would have continued, I think, even teleworking from a different country. In the end, I think keep a positive attitude. There's always going to be challenges and difficulty, but those are not permanent phases of your life. The change is always going to be a constant. That is always a given. Once I embrace that attitude, I embrace that idea. That, I think, has helped me a lot, become a lot more resilient, become a lot happier with all this change and what we signed up for. If you find your community, whether online or in person, that helps a lot too. It's definitely been a journey and in some ways, it's only just started, which is kind of crazy. Well, I am curious. What is it that you were doing in your professional career before you made all these transitions? I think that will really help illuminate what your story is. Yeah. I was a management consultant for a very large multinational corporation. I won't name the company, although if I do, everybody would know it. I will just say it's very well known. It's precisely because it has a presence in so many different countries, including Mexico, that really complicated my ability to continue working for the US division. As a management consultant, I did soup to nuts work related to strategy, change management, and knowledge management projects for my clients. Of course, as a consultant, you're not just doing client projects. It's very common. You're taking on what I call the extracurriculars to strengthen our eminence so that we can better deliver and serve our clients, and also to grow the business and ensure that we as a company, as practitioners, are up to date on best practices and the latest technology that we can implement for projects. Basically, a lot of the work I would do is to help clients envision their strategic initiatives and their vision for how they will want to, let's say, transform or implement a large -scale enterprise management system, because the company I work for has a lot of IT projects, or to help them improve a certain process or system, or to improve a certain management practice. I did everything related and supported that. I led teams. I coached junior team members and managed financials. I served as a deputy project manager for a larger project at one point. I do think I'm kind of a jack -of -all -trades. I will say that's kind of why I'm consistently, I think, staffed on federal projects, because I would say there's a complexity. There's technical knowledge, of course, that I need to bring to the table to clients, but there's also, I think, an element of a lot of human empathy, because I felt like the clients who responded to me most and my suggestions and recommendations that we ultimately developed in the end, I think they felt they could really trust me. A lot of them said, I consider you be a good friend. You really listen to my concerns. I think for a lot of public servants, that's kind of a rare opportunity for someone to just listen to them, because a lot of times if there's any large transformation project that at the government level you have to implement, it's always mandated from the top. It can be politicized very quickly. It's always in the news. It's always in the press. You always hear a lot of the bad stories and not a lot of success stories. Just being there to almost guide them. I think it's a bit presumptuous to say I was - A doula? Yeah, a doula. Yeah. You got this. You could push through the pain. Exactly. Just someone there to support you. Even though it's difficult and you're going to have to work more and this will impact your job, all that uncertainty that surrounds change in any workplace, any organization, of course, you're there like your support system. I kid you not, I would say that's a lot of my job. Yes, there was managing a project, setting meetings, creating schedules, managing risks. Yes, that's a lot of the technical knowledge. A lot of it is just checking in, talking with people, saying how they're doing, making them feel better, making them feel like they can do this. I really felt like I was a teacher, like a coach. I think that's a marker of a good consultant too. Someone who really cares about the client and they show that. I can see how you had all of the kinds of tools necessary to do a kind of research and change maker project within the EFM community and Monterey then, which is one of the reasons I brought you here today because I wanted to hear about that project. How did it get started? Why were you pursuing it? Were you invited to do it? What was going on? What started this? Yes. I would say this EFM employment and retirement events that I initiated earlier this year, the inspiration for that was, I will say to be honest, was I needed project management credits to renew my project management certificate, my PMP, Project Management Professional Certification, and not working in an office or having a job. You have to find a lot more creative ways to submit evidence that you're continuing your education and your project management practice. I can tell you that here at Available Worldwide, we are all about the trying to fulfill credits and trying to do career tasks in ways that do not require you to be employed. This is a big part of our mission. I'm glad to hear you have found a way to do it and benefit other people. Exactly. There was an immediate need, but then I said, why not find a project that I can work on that gets me these credits, but then can really benefit myself, of course, and also other EFMs at post. The other part of the genesis of this event was when I wasn't able to bring my job with me to Mexico and work in telework. I started looking at other kind of telework options with US -based organizations. I just kept running into the same issue of like, oh, yeah, we like your experience, but we really can't work with you. Your presence in Mexico is a problem for us. We just don't want to take that tax or liability. I understand. Employment at post seemed like my best option. Initially, I will admit, I was resistant to employment at post. I went in assuming that a lot of jobs available to EFMs at post, I'm sure are good and fulfilling, but I really got used to a certain level of, let's say, compensation in the private sector. I got used to a certain level of responsibility. I was managing people. I was leading teams. I was a certain level of leadership.
Mark Levin
Sebastian Gorka Reacts to Vivek Ramaswamy's Stance on Israel
"Into the rest of the Middle East. needs Israel to stand on its own two feet and then stop providing it with military support. And I said, well, wait a minute, we're giving $6 billion to Iran, Israel $3 .8 billion. Yeah. And they have a very important role in our national security and our diplomacy. And so if you just walk away, how do you just walk away from these allies? He said the same thing about Taiwan that once they teach us how to make computer chips, then we leave them. Why would they do that? So here's a kind of, you know, flip it on its head. about not How this pie in the sky of Israel should integrate into the Middle East? How about the West of the Middle East should integrate into Israel, where we're talking about a country of 9 human beings surrounded mostly by nations that have wanted to destroy it or president Trump came along. I was on the ground floor in the White House when he came up with the Abraham Accords and God bless him. He the State Department was telling President Trump. Oh, oh, you can't have peace in Middle East until you wreck Palestine. And he said, Why? Because and he said, No, no, we're going to work with Israel. We're going to have Jared travel out to the Middle East. And what does he do? He brings a peace accord with the UAE with Bahrain with Sudan with
The Crypto Overnighter
A highlight from 645:SEC Targets Ripple, Binance-Checkout Split, Cuban vs OpenSea
"To those who visit Mickey D's for their favorite breakfast item and then go somewhere else for coffee, give this Mickey D's brew a second chance. The glow up was real. Try any size iced coffee brewed with 100 % Arabica beans for just 99 cents until 11 a .m. and pair it with a savory Sausage McMuffin with Egg for $2 .79. Prices and participation may vary, cannot be combined with any other offer. Rockstar Energy Punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy Drink. Good evening and welcome to the Crypto Overnighter. I'm Nick Ademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific on Saturday, August 19th, 2023. Welcome back to the Crypto Overnighter where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so we're going to talk about that. First, however, a reminder that there will be no new episodes on Monday, Tuesday, or Wednesday of next week. We're going out of town for our anniversary, so I won't be putting out content from the 21st to the 23rd of August. So after tomorrow, I'll be gone and I won't be back until Thursday. As for tonight, we'll delve into the SEC's relentless pursuit against Ripple and what this means for the broader crypto industry. We'll uncover the rift between Binance and Checkout .com, exploring the challenges of navigating the regulatory terrain in the crypto space. Exactly Protocol faces a substantial breach, shining a light on the vulnerabilities in the DeFi sector. Ethereum gears up to unveil its innovative HolSky testnet, another leap towards continuous improvement. Mark Cuban takes on OpenSea in a showdown over NFT royalties, and we'll wrap things up with Taiwan's refreshing approach to fostering growth in the crypto sector. The U .S. Securities Exchange Commission has taken another step in its ongoing legal battle against Ripple Labs. On Thursday, Judge Annalisa Torres of the U .S. District Court for the Southern District of New York allowed the SEC to present its argument for an appeal for her earlier ruling. On Friday, the SEC requested permission to appeal the judge's ruling that XRP sales through exchanges did not breach securities law. The SEC's appeal specifically targets the judge's decision that Ripple's programmatic sales of XRP were not in violation of securities law. This is because retail investors buying XRP on an exchange would not have the same expectations as an institutional investor purchasing directly from Ripple. The SEC's appeal emphasizes the legal determinations about the existence of investment contracts based on undisputed facts. The outcome of this appeal could influence other SEC cases. Notably, it suits against Coinbase and DragonChain. The SEC's focus is on the sales of XRP, not the asset itself. They clarified that they do not argue that the underlying assets of those investment contracts were securities. Ripple has until September 1, 2023, to respond to SEC's motion. If the SEC does get approval for the interlocutory appeal from Judge Torres, they will then need to petition the Second District Court of Appeals to review the case. The SEC's move to appeal has broader implications for the crypto industry. The way the court handles the Ripple case could significantly affect other pending litigations, especially those between the SEC and major crypto trading platforms like Binance and Coinbase. The SEC believes that an immediate appeal is necessary due to the controlling questions of law involved and the substantial grounds for differing opinions on these matters. Interestingly, the SEC has officially admitted that digital assets, including XRP, are not inherently securities. This admission is significant and has sparked reactions from the crypto community. Attorney John Deaton highlighted that the SEC's concession on this issue may have been influenced by over 75 ,000 XRP holders who joined the lawsuit. The ongoing legal tussle between Ripple and the SEC began in 2020 when the SEC accused Ripple of raising $1 .3 billion through XRP sales. Judge Torres had previously ruled that some of Ripple's XRP sales did not violate securities laws due to a blind bid process. However, she also determined that other direct sales of the token to institutional investors were securities, giving the SEC a partial victory. The SEC now wants to appeal the decision about the programmatic sales and other distributions of XRP in exchange for goods and services. This case is a testament to the evolving nature of regulations in the crypto space and the challenges faced by both regulators and crypto companies. As the legal proceedings continue, the crypto community will be keenly watching the developments, given the potential implications for the broader industry. While Ripple faces the SEC, Binance confronts its own set of challenges. By the way, if you're enjoying our in -depth analysis, ensure that you subscribe and get notifications. Let's delve into what's brewing between Binance and Checkout .com.
Bloomberg Radio New York - Recording Feed
Monitor Show 18:00 08-14-2023 18:00
"We get the big data dump, we call it that, so it's industrial production, retail sales, fixed asset investment, so we'll be unpacking that data later on the program. Where's like the funny August story, because there's nothing here. There isn't. We'll have to wait a few days, I think. Sorry, everybody. We'll pick it up for Tuesday. Tomorrow. Bring in the horn players, man. We'll bring them in just for you. Daybreak Asia with Doug Kristin and Brian Curtis. It starts right now. China's banking regulators sets up a task force to examine potential debt and risks at Zhongzhi. And Country Garden seeks to extend a maturing bond for the first time ever. Taiwan's Vice President Lai says the world needs to know Taiwan is a sovereign nation. It appears the Georgia grand jury is very close to handing down another Trump indictment. Some concern about federal funding for Maui relief. I'm Ed Baxter with Global News. Neymar becomes the latest big name to make the move to the Saudi Pro League. I'm Dan Schwartzman. I'll have that story and more coming up in Bloomberg Sports. Thank you.
Bloomberg Radio New York - Recording Feed
Monitor Show 19:00 08-13-2023 19:00
"The PVOC these days, but it doesn't look like the PVOC is going to do much this month, at least, Brian. Yeah, we also have big investors selling more properties in Hong Kong. Li Ka -shing, she's got a piece as well, she really does. Li Ka -shing selling more flats at a big project from CK Asset. So that's something that we'll also be focused on all throughout the morning's program. Well, the next hour of Bloomberg Daybreak Asia begins right now. Many thanks to Bonnie Quinn. At Bloomberg .com and the Bloomberg Business Act, this is Bloomberg Radio. This is Bloomberg Daybreak Asia for this Monday, August 14th in Hong Kong, Sunday, August 13th in New York. And coming up today, Asian equities may struggle after U .S. stocks cap the week with declines following mixed data on inflation. China is issuing a plan to attract more foreign investment to bolster its economy. And Country Garden will suspend trading in at least 10 onshore bonds. Maui Fire now the worst death toll in the U .S. in over a century. The recovery process in Lahainotown is slow work. China says Taiwan's vice president's stopover in the U .S. violates its sovereignty and expectation of another Trump indictment this week. I'm Ed Baxter with Global News. Could PSG superstar Kylian Mbappe actually remain in Paris? I'm Dan Schwartzman. I'll have that story more coming up in Bloomberg Sports. That's all straight ahead on Bloomberg Daybreak Asia. On Bloomberg 1130 New York, Bloomberg 99 .1 Washington, D .C. Bloomberg 106 .1 Boston, Bloomberg 960 San Francisco, Sirius XM119 And around the world on BloombergRadio .com and via the Bloomberg Business App.
77WABC Radio
"taiwan" Discussed on 77WABC Radio
"Taiwan is only about 90 miles away or less. And they will overwhelm on an island. Of some of you might say, why does that matter to us? Why does Ukraine manage us? Why does anything matter to us? And these are the people who will get us into World War three. These are the people who will get us into World War three. Look what happened after Afghanistan are surrender there. What did Putin do? He invaded. Ukraine. I don't believe he would have but for what we did in Afghanistan. Imagine what would happen if we just walked away from Ukraine. How all our enemies would view that. Just incredible. Soviet Union was defeated by people who understood national security foreign policy. Defense of like mine. States leaders, Reagan, Thatcher, coal, John Paul the second. Weinberger, kirkpatrick, haig, Schultz. Not a pacifist among them. Where are they today? In our country. Where's Reagan? Oh, get over Reagan. I'm told. By the geniuses of newsweek. And in Texas okay, weinberger. Forget about weinberger. Kirkpatrick. Forget about all these people. They brush history. They have all the answers. The barely pubescent. Want to be experts want to be popular want to be known want to be famous. They have all the answers, just like the marxists. All the answers. Forget about knowledge and experience in history, and of course, close your
podcast – Lawyers, Guns & Money
"taiwan" Discussed on podcast – Lawyers, Guns & Money
"Defensive point from which to control naval traffic. So anyway, Sweden led the Central European alliance. They developed a nuclear bomb. Which they came pretty close to back in the 60s, so they just dusted off that old work. They've got some nice mountainous areas that look a lot from satellite pictures like the North Korean test games do. And heck, why not? And the alliance went all the way down to the Black Sea with the former Soviet satellites. Well, I have a question, Cheryl that maybe you have seen inside into or maybe rob you do. One of the things that I found extraordinarily puzzling, so much so that I was involved in a research project about this that ground to a halt over COVID. Research project on the Ukraine crisis in 2014. And how everybody behaved around that. Is that the Russians after 2014 went really hard on the coercive diplomacy front on Sweden? Which Obama administration officials were saying, you know, they're making our lives easy for us. They're driving sweet and in Finland towards NATO, not away from it. We're seeking the culmination of that now. But why did the Russians respond to the 2014 I mean, we understand why that led Russia to try to get Trump elected and all those other types of things. But why the chorus of diplomacy on two neutral countries? That's the thing, the nuclear exercises, the incursions into water and air space. The Swedes were developing all sorts of countermeasures, including some rather amusing ones to deal with Russian incursions. Was that just about a kind of status prestige move that you're feeling weak and isolated and so you want to prove your great power by beating up on some countries that aren't in NATO. I don't really get it. Do you have any explanation for this? I can give a couple of ideas, which may or may not be useful. Sweden and Russia have fought wars the last one, however, was I think it ended 1702, so that was a while back, but on the other hand, the Russians don't know. It was the independent. It was the win win win win Russia took over Finland, right? It was during the Napoleonic Wars. But Sweden was on Russia's side, right? It was Denmark that was allied with Napoleon. Wasn't it? That's why Norway goes to Sweden after in the settlement to punish Denmark. Well, they all bounced around, right? I mean, remember the Swedish king, the Swedish royal house is.
podcast – Lawyers, Guns & Money
"taiwan" Discussed on podcast – Lawyers, Guns & Money
"If you are trying to secretly sneak a submarine through Turkish waters, that's like a core Turkish national security interest. And that's going to ruin everything for you. So yeah, I mean, my understanding is that it's not really a thing that could happen. There's a broader story here. Somebody like the late Sean Kay would argue that the inability of NATO to have a mechanism for forcing out members has turned out to be a real problem. And that not just in the sense that there are questions about whether some countries that are in NATO now should really be in NATO. But also because it doesn't give NATO itself any leverage in terms of saying, you know, look, if you cross too many lines in terms of stopping a consensus, there are things we can do about that. And I think turkey is interesting there. That's all I'll say. I mean, turkey can be straightforward about this, right? I think you say, look, we were in a democracy when you let us in, right? I mean, we're no less democratic now than when you let us into the alliance, right? It's you who changed not us. Well, it's not actually the question of authoritarianism or democracy. The whole idea that NATO is a security community of democracies and that it's that is its fundamental purpose. That's an idea that developed in the 1990s and this idea that developed in part when nobody really wanted NATO to go away, but they didn't have clear sense of what it was for. And so it gets re narrated. Michael Williams is a really good piece of this and some other people have written about this. It gets re narrated as the liberal order anchor democratic security community force for democracy in Eastern Europe along with the European Union. In that relationship is then complicated, both conceptually, but also in terms of these kinds of narratives. It's more the issue of having countries who are not going to go along with what the majority of NATO wants. So a good example of this is back before there was a period of time, I don't know what the situation is now, a lot of Western countries cut off and charge and sharing with us Austria because intelligence mystery was controlled by a bunch of pro Russian fascists. But before that, in various times, there have been situations in which the United States and other NATO countries have wanted to do cooperation with Austria and turkey's veto debt. So we've had instead is bilateral or middle lateral cooperation. The kind of thing that I was suggesting would be the worst case outcome for Sweden and Finland right now, which is kind of more of the same, but with an official, you will be a NATO someday kind of statement or position or at least, if not official, then overwhelming consensus. But you do have situations where turkey's wielded that ability to veto, where it's vetoed NATO activity, often without much consequence, but in ways that you could imagine we could become more difficult for the alliance like right now..
podcast – Lawyers, Guns & Money
"taiwan" Discussed on podcast – Lawyers, Guns & Money
"Make Vladimir Putin happy as rob said as precisely what he wanted to avoid. So getting to a peace treaty is going to be very difficult. Yeah, and I don't see it does not seem to me that Russia has the capability to force Ukraine to accept neutrality. And it does not seem to be that unless it is forced to do so, that Ukraine will accept neutrality. That seems off the table to me right now. I mean, honestly, and who knows how things are looking a month, right? Honestly, I do actually think that it's time that, you know, and I hope there are conversations about this. I know there are conversations about this in France and Germany. But there does have to be at some point a conversation about what steps do we take to prevent an outcome where essentially we are bankrolling Ukraine's effort to take back every itch of Ukrainian territory, not just February 22nd, but then back to 2014. Because I don't think that we want to become engaged in the conflict to that extent. But I would hope that there are conversations about that being had in the administration right now. How do you avoid that? I mean, so let's stipulate that there are a couple of possibilities, very crudely. One is that things bogged down kind of a somewhere in the range of where they are. Russian forces become entrenched in a way where some of the disadvantages that they've had begin to attenuate. And we sit down for a long bloody war of inches, that's quite possible. Another possibility is that there's some shock and that makes things better for Russia. In this, you know, I have nobody sees that right now, but you never know. And another possibility is that the pendulum continues to swing the way it looks like it's going to swing away every expects it to, which is that the Ukrainians continue to ramp up counteroffensives while the Russian Russia's own offensive stall out or sputter out. And at that point, if Ukraine is seriously on the offensive in a way where they are a major way taking back or pushing into Russian controlled territory and into the separatist republics, what is this political scenario in which it's backers or enough of its backers say, you know what, we're going to cut you off? Unless you stop. I mean, I can see how the French and the Germans, the Germans, in particular, taking that line, but you see that happening in the United States. Do you see that happening in Poland? Do you see that happening in other countries that are very strongly committed? I mean, I've been doubling down on transfer of very advanced weaponry. I don't see it. I think that Ukraine, if they start to gain the initiative, is going to push for reconquest and I don't see how the U.S. can really rein that in..
Bro History
"taiwan" Discussed on Bro History
"I think that's for the real money. It's like John Cena. You want to pivot our podcast to be like a China talk to China about? Yeah. You know how there's that show China uncensored? Yeah, I love that show. Let's be the counter of China uncensored. China censored. China is not censored. Let's set up that. Something that is not even true. It's a good place. YouTube. I do feel for the large portion of the Taiwanese who don't want to be ruled by the mainland and certainly I wouldn't either, but that doesn't mean that I think that the U.S. has any case for interfering. I mean, it's an internal dispute. And if Taiwan is able to hold off the mainland, good for them. I certainly would be cheering for them. But I don't want anything to do with it. It has nothing to do with us at all. Yeah. I agree. I agree with that. Yeah, I would say good luck to Taiwan, but messy. Yeah. Civil wars are messy and we don't want to be involved. I'll give you my motto, my family motto. Tell you my family motto. I don't think so. I'll tell it to you. It would be news to the audience. I may have told a story before. So my great great, great, great, great grandfather. I don't know what level of great grandfather your grandfather, but he's a far back. Was a soldier and a Revolutionary War. And he served with George Washington. So there was a book written in like the 70s called soldiers of the Revolutionary War. And his name was Jonathan Henderson, and he there was a chapter on him about his life and what he did after the war. And there's a lot of politically incorrect things in it, which are kind of funny to read. However, there's a part in it where he talks about how the hendersons got their family motto and Jonathan Henderson once was in Philadelphia and there was a dispute between a Polish man and his wife. The pole he got in the middle of it and tried to help the Polish the woman, and they both tried to stab him. That's when Jonathan that's where the Henderson family motto comes, never get into the never get in the middle of the affairs of a man whose wife. In a long time ago, but we found out this guy was like, you know, related to me, so that's my family motto now. Never get involved in someone's domestic affairs. I changed it, so it's less misogynistic. Or PC. Yeah. Yeah. Works on up to medical. Works for every type of couple. All right. I think we're probably at time Joseph, I think you've been so graceful as to give us almost two hours of your time. Thanks for joining us..
Bro History
"taiwan" Discussed on Bro History
"So in order to get us to come back to the deal, you got to do something for us. So it's really it's tough to it's a tough situation there. And I don't feel like it's getting much attention, but it's something that at least with Taiwan, I feel like the issue is clear. Even to most Americans who pay attention like they're aware of what Taiwan is, they're aware that China wants Taiwan. And China would need to militarily go and get them. And so it's not that confusing of an issue. But the politics and the covert activity and the cyber warfare that goes on between Iran and Israel. And that whole situation is just very, very opaque, very complicated. And I think it would be easier to coax the American public into a war over there with Iran than it would be Taiwan. But that's just speculation. The public polling data on that is not super clear, but it just seems like first glance probably. Unless you think about Iraq or excuse me, Iran is that Iran would just be, I don't think it would be equally as horrific, obviously with a war with China because China has nuclear arms. But it is easier to roll off the table of war with war with China because you can just be like, well, they have there have nuclear bombs. We can't do that. We just need to this is civilization we're talking about, like, who cares? And also, there's enough big business interest. There's enough markets. There's enough business interest that wants access to Chinese markets where they wouldn't be behind a war. I mean, yeah, the military industrial complex is very powerful. However, we're talking about the MIC versus the rest of big business. The rest of the big business is going to win. You know, it's like the Israel lobby is very powerful as well. But the Israel lobby versus the will of the rest of the world..
Bro History
"taiwan" Discussed on Bro History
"You know, the world sees Taiwan on fire. That's why I mentioned this in the last episode. And you brought up the idea of a lot of aerial sorties going on between pretty equally matched forces like what if the Taiwanese fired first? Or the Chinese like mocked up, you know, some kind of false flag that they had been hit first. Then the optics totally changed. Like now, you know, this renegade province that, you know, it was always understood that it was going to come back to China eventually that it never really left that there was some kind of odd ambiguity going on here. I just don't know how much the rest of the world is really going to care because China is so much more important to the international trading community than the United States is. Far more countries do way more trade with China than the United States. Almost almost twice as many. So at the end of the day, again, I look at Russia. Russia goes and takes the DOM boss and the Crimean stuff. And at the end of the day, there was only so far the Europeans were really willing to go. And none of the Central Asian states China didn't care. And so I just, I wonder how much, even if the optics did start to look bad, what is anyone really willing to put on the line domestically for this issue? I mean, there is some technology coming out of manufacturing coming out of Taiwan that would be a detrimental to American corporate interests. And as we know that, I think we said this in the Patreon slack at one point that the U.S. is kind of like a mercenary to U.S. corporate interests. So forget about the public opinion for a moment. If Apple doesn't see that silicon coming out of Taiwan, you know, which is a major distributor of said materials and they're not able to pivot that manufacturing out to, I don't know, Vietnam or some other places, which they're actually actively doing because I think they understand what's going on there. And that disrupts sales of Apple and Google and God knows what other companies that require this silicon, they might call upon the U.S. corporate mercenary to do something about it. Yeah, I mean that's a totally valid point, but they've also been dumping money into domestic semiconductor manufacturing. For sure. Over the summer subsidized to replicate that, you know, to Tony into TSMC is opening a facility here in the United States. That's right. That's right. It's not like the technology wouldn't be accessible. There might be a supply chain interruption. And you know, maybe you can't get your new iPhone, but Apple wants the government to go fight Taiwan. Like someone's gonna need to go fight. Do you want to go fight for Taiwan? I don't. I don't either, but we're talking about corporate agents versus human interests, right? And sometimes, as we can see with the many words that we fought over the last 20, 30 years here. Sometimes the corporate interests went out over actual true American interests. And I don't want to underwrite that at all. I also don't want to over inflate it either. I understand where we're coming from. We could get semiconductors elsewhere. But no, they don't know Chomsky's manufacturing of consent. Should be required reading. I think in primary school, of course, it's public school, so they don't want people reading that. But Henry pointed it out. Yes, you just bombard people with this message that China is the cause of all the things that are bad that are happening. And you can actually watch it on Gallup polling, Pew Research polling. Attitudes towards China since 2012 have steadily declined steadily declined..
Bro History
"taiwan" Discussed on Bro History
"And again, as long as there's plausible deniability, I mean, we've already seen this back and forth with, I mean, this is obviously such a trivial example by comparison, but maybe you don't think it's trivial. I kind of thought it was trivial. But the Russian election interference is trying to prove that the research is the Russian research division Internet research division was doing it. And it was back and forth for a year, right? I mean, if the Chinese really only need to buy themselves a couple of weeks, maybe. Yeah. So yeah. No, I fully agree with you. I think I hope the Chinese aren't listening and trying to get some tips, but if I was advising a Chinese, I think that that would be the route, you know? This is the way to go. So I want to hear, I want to hear perspectives on what do you think the appetite is in the American population for war. I don't think it's very high. I think there's a lot of posturing going on. I think especially right now in a conservative moment in the right wing movement, they really, something that defines kind of the modern right wing movement as we see it right now is like, we need some type of external threat that we can rally behind and kind of be like America against. In China is definitely taken that mantle man. You watch Tucker Carlson and Tucker Carlson, someone who I praise a lot on this show. Someone who I criticized along the show. This is an interesting show, but man, everything falls to China. Like, oh, it's China, China, China, China. I was speaking to one of my Friends the other day, my friend's like, can you believe she's like, can you believe that China that the U.S. is just going to leave Taiwan out to dry? And I was like, who cares? It doesn't affect you. Yeah, but it's Taiwan. I'm like, do you really care about Taiwan? He's like, no, not really. I don't really care that much. He admitted that. But it was more of just kind of an anti China thing..
Bro History
"taiwan" Discussed on Bro History
"It's going to land in a precise area at a speed where they won't know what happened until it wipes out their entire civilization. Yeah, you would not even have time to consciously process that. Literally move too fast. I mean, it's crazy. I'm always blown away by the fact that we have no more access to material resources today than did the early humans 50,000 years ago. We just have solid. Of knowledge with the application of knowledge. We've been able to synthesize skyscrapers, hypersonic ballistic missiles. We can grow organs and meet in Petri dishes and it's just amazing. It really is amazing. And it's funny to Henry's point or most advanced our biggest advances have been in the art of killing people. And then some of our other biggest achievements are just offshoots of our endeavor to kill people, like going to space is just an offshoot of ballistic missiles. You know? And satellites is just like GPS and Uber is just an offshoot of trying to kill people. The Internet, the Internet is just an offshoot of trying to kill people, which actually. That's actually a really good transition because there's another thing you said that I wanted to talk about, which is the cyber warfare part. Didn't want to leave that out there without a response. So I actually really agree with you on this front. I think that's probably the most the easiest maybe not easy. I want to say it that way. I think it's probably the clearest way to mess with us. Or to mess with Taiwan is to go cyber. Can they penetrate Taiwan's infrastructure, how much of Taiwan's defense systems can be penetrated through the Internet without even going anywhere? And how well can the Chinese mask the fact that they're doing that? Obviously, everyone's going to know it's China, right?.
Bro History
"taiwan" Discussed on Bro History
"You can imagine, they're prepared. They know where they're going to land, right? Or at least one of 13 places, or a couple of 13 places, right? The Taiwanese are definitely going to see an invasion coming literally a hundred miles away because they're a hundred miles away. So I got this quote from that article and I'll just read it really quickly. So they say Taiwanese American and Japanese leaders will know that the PLA is preparing for a cross strait war more than 60 days before the hostilities begin. They will know for certain that an invasion will happen more than 30 days before the missiles are fired. This will give Taiwanese ample time to move much of their command and control infrastructure and hardened mountain tunnels, move their fleet out of vulnerable ports, detain suspected agents and intelligence operatives, litter the ocean with sea mines. And blah, blah, blah blah blah. They'll have time to prepare. And the reason why they'll know this is because literally satellites. You don't move a million men from China to Taiwan without something happening that you can see with a satellite, right? There's just way too many people. We do many things mood around, they're gonna know. They're just gonna know. I want intents to totally adopt a gorilla style defense in the event of an invasion. So kind of like how the Taliban did in a stand or any of the insurgencies in Iraq and nearby places. So but the difference between the Middle East and Afghanistan and their gorilla style and Taiwan's will be the Taiwan is like a first world nation that is extremely well equipped, better trained, and they're going to have a heads up that it's coming. So they're going to dig in. Taiwan has rockets too. They're also going to use them. They're going to use them to hit the places where the Chinese will embark to go to Taiwan. They're going to use them to hit radar stations. They're going to use them to hit just ships that are in the water coming over, right? They're going to use their rockets as well. There's nothing nothing special. And then Taiwan also wants to use mines. I think I've mentioned that before, which is kind of controversial. Because they're kind of hard to decommission after you've put them out there. But they fully intend to use them. And this one is the most interesting one that I found out. I don't know Joseph are you a Game of Thrones fan? Oh yeah..
Bro History
"taiwan" Discussed on Bro History
"So the PLA, the Chinese army is going to use their rocket force, and they're going to launch rockets against Taiwan initially to just wreck infrastructure. And they'll do this well before any invasion. And they're going to hit things like air fields, communication hubs, radar equipment, the like, right? They also plan on using sleeper agents in Taiwan or maybe some special forces. And there's the hammering. I don't know if you guys can hear the hammer. The hammering. I'm gonna bring out your spring out your bring out your inner Lorenz O'Donnell. Yeah, we've talked about him before. The hammering. All right, where was I? So they're going to use some sleeper agents in Taiwan and probably. Hey, Henry, I have this written down. Do you want to just read it for me for a second while they can commence their hammering? Well, all right, let me bring up something. So in Taiwan, from the polling I saw that most Taiwanese people, they see themselves as Taiwanese and not Chinese. I don't know Joseph. Have you ever seen anything like that? What's your take on that? As far as the people of Taiwan, how much influence do they want China to have or are they okay with that? What's that look like? Well, there was an indigenous population and part of it was Han Chinese, but this goes back many, many centuries, you know, a millennia. The first note of Taiwan in any of the imperial records is back in the 300 BC. So I mean, but the only real, it wasn't until the king dynasty that in the let's see the 17th century that they really started to interact. With Taiwan. And you started seeing more of the Han Chinese starting to integrate into that population. But Taiwan's history as you say is very complicated, but it is unquestionable that the majority of them do not want to join the Chinese union..
Bro History
"taiwan" Discussed on Bro History
"Yes, and you know, now that you say that, I actually, I had read a couple of books from the naval workouts and there were a lot of essays and there's some wondering if he was one of the contributors because that is sounding very familiar. No, I absolutely agree. I also think that yeah, definitely, it's very interesting observing China because it really is just it feels like a very pent up nation that's like swelling with pride wanting to prove itself, show its metal and I mean, at the end of the day, who will bleed more for Taiwan? We lose a couple hundred guys, and the U.S. public's going to just lose it. They're going to want nothing more to do with the conflict. And China, I mean, this is definitely something. Yeah, this is definitely. For them, for them, though, I kind of see it as the end of the century of humiliation. So like this would be capstone. We finally reunited China. We got the one renegade province that got away. So I understand how that's like a major project for their own nationalism. But it's interesting. See ya I'm on the side. I want the fence man. I don't really have like a cohesive or consistent view on what's going to happen with China and Taiwan. I'm more so just like, every single article I read changes my mind. Like I'm very fair weather. Danny, when we were talking about this, probably what two months ago, you were saying how you thought that Taiwan would be able to defend itself against China? Yeah, totally. And I can regurgitate a little bit from that. I actually prepared for this. And Joseph, you even pointed out when you listen to that episode that you thought, you know, I had a pretty good read on the situation for me. I still don't know if it would happen, but I forget if it was Henry or Joseph who said that's just a second ago, but whether or not the U.S..
Bro History
"taiwan" Discussed on Bro History
"Was a close observer and a supporter of the Falklands War, which is kind of weird because it just shows you how ancient this guy is. Right? One question that he was around the 80s and he's like, I was a student of the Falkland wars. I was a student. This guy is so old. This guy is it's been around because you have to remember his political career started very early, like what it was he elected when he was in his 30, 31. Yeah. Yeah, and he was a water game, baby. Yeah. So, like, I mean, man, his roots go back deep. And so that's the first thing I thought of. But then, you know, you say, the lesson learned is that Britain's strategic and ambiguity. So there is a level of confusion of what they would actually do if Argentina invaded the island. And his policy towards Taiwan, the fact that just a couple of weeks ago, Biden said, you know, our commitment to Taiwan is rock solid, effectively breaking our strategic ambiguity that strategy that we've had for the past 5 decades or so, you know, the strategy of where we don't really say outright, we're going to be defend Taiwan, but we're not going to tell China that we're not going to defend China, Taiwan, just to keep everyone confused. So I guess you were saying that in order to prevent a war with China, Biden is what Biden thinks. In order to prevent a war with China, he thinks that he needs to be crystal clear about what the U.S. would do if they actually tried something militarily. Yes. Yeah. And there's actually interviews that you can go back and watch from 1982. He gave a lot of interviews because he was actually the author of the bill drafted and adopted the resolution adopted that said we are on the British side of this conflict..
Bro History
"taiwan" Discussed on Bro History
"My grandpa actually made the point that, you know, they're both kind of imperialists in this sense. You know, it was an unwrapped island. You know, they're both just making these extra territorial claims, but basically they just misjudged the situation. They misjudged the political incentive structure that the British government would face because again, the Falklands lobby for years had been paying people to write editorials, paying MPs, putting pressure on the government to make sure the Falklands stayed inside the empire. And so Margaret Thatcher really, there's a great public outcry. Tons of support for going and trying to take it back and that's exactly what happens. And so that's kind of the background to the conflict. So he's on the same page. Yeah, I got some questions because you unloaded a lot of stuff on there. I guess maybe the first question I have is, you mentioned how there were these lobbying efforts happening on both sides and I was reading a little bit about the Argentine one. And I was wondering if you knew much about how they were trying to convince falklanders to want to be Argentine. Yes, and they did do a lot of great things in terms of trying to expand access to healthcare and education on the island. Providing its petrol, providing its air service, providing its airlines. So they did. They did try to read the deal. Sweeten the deal, they did try to swing the deal because their entire claim on the island was premised on the language used in the UN resolution, which was that the interests of the falklanders should be Paramount. In Argentina was trying to show that, look, we take way better care of you than the British, the British. They're not, you know, taking care of your healthcare or anything. They're trying to cut you off and basically get rid of you. You know, they're not even willing to have ships down here anymore. And we're willing to spend all this money to help you out. There was actually also a big Anglo Argentine community. Second and third generation Anglo Anglo Argentinians, who they would send to the island as kind of a public relations move to try and sell these britishers on this idea that like, look, we come from the same people you do. We're part of the Argentinian society, things are great. You got nothing to worry about. So yeah. So the second question following up on that is a good segue. I think is you mentioned early on that the Falkland Islands were just uninhabited. It's just a bunch of rocks in the middle of the ocean. You know, that people happen upon one day when they were doing exploring. And so nobody lived there initially. So what do you know what the ethnic makeup of the Falkland Islands was then and what that might look like in the later future when Britain and Argentina started fighting a war about it. What was like the ethnic ethnic makeup. Okay, so going back to like the 18th century. I guess maybe during the Falkland Islands war. And the war it was principally, it was principally britishers. Okay. Overwhelmingly so. So like white anglos in that respect. They would not look out of place. They spoke with the same accent, you know..
Bro History
"taiwan" Discussed on Bro History
"The people who are not cool with that are the falklanders themselves. They consider themselves British. There have been several really great books written about the war, but one of them that was really good. The fellow's name is escaping me at the moment, but he wrote an entire book basically talking about the imagined community aspect of Benedict Anderson or is that yeah. Yeah, exactly. Yeah. Yeah, I'll go ahead. Well, no, like, we had talked about Benedict Anderson and the whole idea of an imagined community. They said, look, we're British. We speak English. We have the same traditions, the same heritage. We want to be part of the UK. We don't want to be part of Argentina. And so this is basically what happens here is you reach the stalemate where Great Britain, you know the basically what happens is the falklanders establish a political lobby. Which should sound familiar. Taiwan, of course, has a very active lobby in the United States. You need to have lobbyists to keep your government interested in this very far away place that it isn't immediately clear why it's important that you should be devoting resources to it. And the ball comes lobby is very, very successful. In keeping the British public on the side of falklanders are britishers. They're part of the empire. And so basically, what happens is, yes, the population does think that. But the British government is faced with a lot of economic constraints. And so they start sending signals that the Argentinian government takes to mean they won't fight if the Argentinians invade the island. So first, they basically scrap the only ship that they have patrolling the region. And then in 1981, they update the nationality act, and they basically make the falklanders like second class citizens. Basically limiting their ability to immigrate into the UK. And so all of these signals that, you know, the government clearly isn't all that committed to it. Look, they're removing resources from here. They're basically downgrading the status of falklanders as British citizens. One of the reasons that the falklanders were so resistant by that time was because of course, in 1976, the Argentinian government is overthrown by a military junta. And they kick off what's called the dirty war. And I don't know how much your listeners are familiar with the history of that period. But tens of thousands of political opponents to the military regime are tortured, murdered, disappeared. This is not something that anyone wants to be a part of. And so at the same time, the Argentinians are clamoring the Argentinian government is clamoring to get both back, vultures are saying we want nothing to do with your government with your way of doing things. So basically, the situation gets very bad. This is something we talked about in our conversation about China, where I think the greatest risk to Taiwan is if the social and economic situation deteriorates in China that the obvious solution is to go invade Taiwan. And that's exactly the solution that the Argentinian junta hit on. Well, there's a lot of social unrest. A lot of economic poor performance going on. I know what we'll do. We'll go invade the Falklands. Good old fashioned invasion. We'll distract everyone, get their patriotism all riled up will boot the imperialists out,.
Bro History
"taiwan" Discussed on Bro History
"Actually, the center for strategic studies, part of the army college. They've written numerous papers and articles about it. So it is a very out of the way place. It was a very small conflict. It lasts 74 days from start to finish. It was a blip on the Cold War radar. So most people don't know about it. And the conflict itself isn't that important for what it did, which, as you said, it basically destroyed the junta in Argentina and guaranteed that Margaret Thatcher would get reelected. But in terms of the parallels, there really aren't any parallels even close to his analogous to the situation between the mainland and Taiwan as the Falklands malvinas war. And so I just wanted to start with giving just a touch of background because most people don't know where the falcons are aren't aware that there was even a warning 1882. So the Falkland Islands are at the very southern tip of the cone of South America. They're on the east side. They're about 900 miles north of the Arctic of the Antarctic circle. So it's basically a pile of rocks. It's a few hundred small islands. There's two main islands, east and west Falklands. Basically, there weren't even any indigenous peoples there. I mean, they're very cold, very wet, poor soil. Basically, as the age of exploration got underway, multiple European explorers came upon these islands. And for the first basically a 150 years from about the mid 17th century to the late 18th century, it changed hands between the Spanish, the French, the British. And basically what happens is the British, I'm going to cut that part out because there's just a lot of back and forth there. But basically the British are there. And it's kind of out of the way. It's not that important. And the Revolutionary War happens. And they need to divert resources to go fight a bunch of angry Americans. And so they leave, but they leave this little plaque behind that says, hey, this is our island, so don't even think about it. And they mean to come right back, but of course the American Revolution takes a long time. Then they get that wrapped up and the wars of the French Revolution start. And then the Napoleonic Wars start. And in the meantime, of course, during the Napoleonic Wars, Napoleon invades Spain in deposes the monarch there, which sets off all the revolutions in South America. So the united Providence provinces of the Rio de la Plata based in Buenos Aires. This is basically Argentina. I'm just going to start calling it Argentina just to avoid any confusion. They basically allow this merchant named Rene to go to the islands and start running it as a commercial hub. And this is in the late 18 teens, and the British are kind of like yeah, whatever. He has some permission to everything. There's some whaling and things going on around there, ceiling, different things like that. Basically, the British find out that vernay has been appointed the governor of the island by the Buenos Aires elite. And that sets the British over the edge. And so they sail down. There were the ship..
Republic Keeper - with Brian O'Kelly
"taiwan" Discussed on Republic Keeper - with Brian O'Kelly
"With you and This is the monuments national park behind and I never knew such place existed. I've lied. I've saw the movie cars. You know the the disney movie with lightning mcqueen right because you know i've got grandkids and even if i didn't have those pixar movies are pretty good movies and Other there at least wholesome good entertainment. And i'll tell you what man if you don't tear it toy story toy story three. Something's wrong with you so anyway. We'll come into the republican broadcast on monuments. National park is an actual real place. And and i think they call it carburetor canyon in in the movie. They're the lightning mcqueen movie. But it's a real place and i'll tell you what it's it's super cool and we were when we were going through there. I'm talking to my one son and who flies the helicopter for the army. And i'm i'm texting pictures dude. Have you seen places like down flowing through their like. Oh man how cool is that right. what a job right to be able to do that for For work There is a lot going on guys in and so we're going to Here's the let me set the table a little bit. We've got There's a mess in minnesota related. This whole dante right Shooting and the while that. Just a mess in there some stuff on that I've got some Video from steve scalise from the border. There's apparently the christians in in canada. Those dangerous dangerous christians and they've got to do something about them and they're being clamped down on and china is sending warplanes into taiwan and so that's heating up and and continues to escalate. So that's kind of the the stuff that i had on the menu today I wanna start off. I think with Unfortunately i'm going to start off with this this is From woke hondas Has weighed in and she you know of course vaccines and there is one critical point because there's just woke honest is quote here. You know pilot. Our prayers are not enough. Prayers are not enough dante. Right should still be with us. While an investigation is underway. Our nation needs justice and healing in. Dante's family needs to know why their child is dead deserve enters answers. Prayers are not enough according to walk mahanta 's and so We wanna make sure that we never ever consider that asking the creator of all the one who literally holds woke hanta his life in his hands. The that would never want to appeal to him. I as though he could do something if he wanted. To and It's you know. I guess we shouldn't be disappointed anymore. At who these people are they do tell us who they are and for some reason a.