Podcasts about international monetary

The International Monetary fund says it is very committed in helping Ghana stabilize its economy.

Dr. Li-Meng Yan w/ The Voice of Dr. Yan – Carry out a program to remove the American element from whole supply chains, eliminate American brands, stop purchasing American agricultural produce and high-tech products, and replace American equipment with PRC products, including Boeing and electrical products, in universities and colleges. Raise the proportion of military spending to 5% of GDP and issue special-purpose bonds to...

In her address to the IIEA, Nadia Calviño, who was appointed as President of the EIB on 1 January 2024, outlines her priorities for her term as EIB President. President Calviño discusses how the EIB and Ireland have been working together to invest in a sustainable future for all and outlines her vision for how Ireland and the EIB can develop closer cooperation in the coming decade. About the Speaker: Nadia Calviño is a Spanish economist and lawyer with a career spanning over 30 years in public policy, economics and finance. Ms Calviño served as First Vice-President of Spain and Minister of Economy, Trade and Enterprise until December 2023. Prior to that role, she held various positions, including Second Vice-President and Minister for Economy and Digitalization (March-July 2021), Third Vice-President and Minister for Economy and Digitalization (2020-2021) and Minister for Economy and Business (2018-2020). Additionally, she chaired the International Monetary and Financial Committee (IMFC) of the International Monetary Fund (IMF) from 2022 to 2023.

Steven Kamin is a senior fellow at the American Enterprise Institute, was previously the director of the Division of International Finance at the Federal Reserve Board, and is a returning guest to the podcast. Mark Sobel is the US Chairman at the Official Monetary and Financial Institutions Forum, and he previously served at the US Department of the Treasury for nearly four decades, including as Deputy Assistant Secretary for International Monetary and Financial Policy from 2000 to early 2015. Also, from 2015 through 2018, Mark served as a US representative at the IMF. Steven and Mark join Macro Musings to talk about dollar dominance and whether or not it is here to stay. Specifically, Steven and Mark also discuss current debates surrounding dollarization, the threat that China poses to dollar dominance, the weaponization of the dollar in the global economy, and a lot more.   Transcript for this week's episode.   Steven's Twitter: @steven_kamin Steven's AEI profile   Mark's Twitter: @sobel_mark Mark's CSIS profile   David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings   Join the Macro Musings mailing list! Check out our Macro Musings merch!   Related Links:   *Dollar Dominance is Here to Stay for the Foreseeable Future—the Real Issue for the Global Economy is How and Why* by Steven Kamin and Mark Sobel   *Steven Kamin on the Global Influence of Fed Policy and the U.S. Dollar* by Macro Musings   *US Sanctions Reinforce the Dollar's Dominance* by Michael Dooley, David Folkerts-Landau, and Peter Garber

The International Monetary Forum revised down South Africa's economic growth, this year from a previous projection of one-point-eight to one-percent. The IMF attributes the downward revision of the country's growth to persistent logistical constraints and shortages in electricity supply.  The IMF's World Economic Outlook, further projects global economic growth to reach three-point-one percent this year. SABC reporter, Naledi Ngcobo reports.

Business confidence amongst German companies is up according to the IFO Institute, as the International Monetary fund predicts the country's economy will overtake Japan by the end of the year. This is despite Monday's report from the Bundesbank – Germany's central bank - suggesting the economy was still contracting in the last quarter. Roger Hearing finds out what's behind the optimism and how the economy can be turned around.

Milton Friedman student and University of Chicago-trained monetary economist Warren Coats (Johns Hopkins fellow, former IMF economist and central bank advisor to over 20 countries) speaks about his beginnings as an economist as PhD student of Milton Friedman's at the University of Chicago, his 30 year career at the IMF leading central bank technical assistance developing currencies and monetary policy in countries ranging from post-USSR Eastern Europe, post-conflict Bosnia and Kosovo in the 1990s as well as Afghanistan and Iraq in the 2000s following regime change. We also discuss the future of SDRs and the US dollar as a reserve currency in the International Monetary System along with Warren's experience as chief of the IMF SDR division. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

Milton Friedman student and University of Chicago-trained monetary economist Warren Coats (Johns Hopkins fellow, former IMF economist and central bank advisor to over 20 countries) speaks about his beginnings as an economist as PhD student of Milton Friedman's at the University of Chicago, his 30 year career at the IMF leading central bank technical assistance developing currencies and monetary policy in countries ranging from post-USSR Eastern Europe, post-conflict Bosnia and Kosovo in the 1990s as well as Afghanistan and Iraq in the 2000s following regime change. We also discuss the future of SDRs and the US dollar as a reserve currency in the International Monetary System along with Warren's experience as chief of the IMF SDR division. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

On this episode of the Mark Moss Show, we delve deep into the historical roots of our modern financial system and its impending dissolution. How did we arrive at this crucial juncture, and what's next? We discuss the repeating cycles of financial revolutions and the converging forces of technology, politics, and finance. Discover the role of gold as a trust mechanism, the significant moves by the BRICS nations, and why the age-old system based on gold has its limitations. As centralized financial systems waver, could decentralized solutions like Bitcoin pave the way? Join us as we traverse the past, present, and future of international finance.See omnystudio.com/listener for privacy information.

Renowned Economist Steve Hanke explains the importance of gold in the international monetary system and how he sees its role evolving in these uncertain times. Steve also provides his view on the failures of the energy transition, the endless aid being send to Ukraine, the impact of the BRICS alliance, and more. Sign up for my free weekly newsletter at https://jaymartin.substack.com/subscribe

0:00 The COLLAPSE of the Dollar 44:58 Interview with Dr. Chris Martenson - FedNow launches instant payments system - A pilot project for CBDCs and financial slavery - All the top people I know are warning of the financial system coming to an end - James Rickards warns of COLLAPSE of the international monetary system - Andy Schectman proven correct in rollout of BRICS decentralized monetary system - Robert Kiyosaki says #gold, #silver and #crypto are the safe stores of value - Rapid global de-dollarization is accelerating - People are POOR because they don't know the difference between REAL money and FAKE money - Those left holding dollars will lose it all - Mainstream media now admitting the war in Ukraine is LOST - The US military has become the WOKE laughing stock of the world - If the US attacks #Russia, the US will lose badly For more updates, visit: http://www.brighteon.com/channel/hrreport NaturalNews videos would not be possible without you, as always we remain passionately dedicated to our mission of educating people all over the world on the subject of natural healing remedies and personal liberty (food freedom, medical freedom, the freedom of speech, etc.). Together, we're helping create a better world, with more honest food labeling, reduced chemical contamination, the avoidance of toxic heavy metals and vastly increased scientific transparency. ▶️ Every dollar you spend at the Health Ranger Store goes toward helping us achieve important science and content goals for humanity: https://www.healthrangerstore.com/ ▶️ Sign Up For Our Newsletter: https://www.naturalnews.com/Readerregistration.html ▶️ Brighteon: https://www.brighteon.com/channels/hrreport ▶️ Join Our Social Network: https://brighteon.social/@HealthRanger ▶️ Check In Stock Products at: https://PrepWithMike.com

Senior Minister Tharman Shanmugaratnam has announced that he plans to run for Singapore's presidency, and will retire from politics and all his positions in government. Former Nominated Member of Parliament, Eugene Tan who's also Associate Professor of Law at the Singapore Management University shares personal anecdotes of his interactions with Mr Tharman, and an analysis of what Mr Tharman will bring to the plate for Singapore and Singaporeans, ahead of the Presidential Election. Presented by: Ryan Huang This podcast is produced and edited by Yeo Kai Ting (ykaiting@sph.com.sg)  Highlights: (00:00) Intro (01:31) Are you surprised by Mr Tharman's decision? (02:07) I think maybe we can expand on "not from the establishment"? (03:03) And of course, you actually had interaction with him or had the chance to meet him in-person when you were in Parliament yourself as an NMP between 2012 and 2014. What's your impression of him? How would you describe Mr Tharman? (04:37) We haven't heard from anyone else about the intention to run for presidency, so let's talk about what might happen with the potential competition. Are we likely to see anyone come forth, especially from the private sector, anyone who might be gutsy enough to stand up? (05:51) Here's what they're up against. Mr Tharman has previously served as Deputy PM, Finance and Education Minister; he comes with two decades and more actually of experience as a politician. He also held important past global appointments, for example, the first Asian Chair of the IMFC or the International Monetary and Financial Committee, so quite a long CV and impressive one as well. Jumping the gun a little here, if Mr Tharman's elected, how much weight will that bring to Singapore's international standing? (07:24) We were just chatting off-air earlier, and you mentioned the word counter-intuitive. I was wondering if you can unpack how different his background is, and what's similar to past presidents, because as we all know, he is quite closely linked to the PAP, after going through two decades in various roles? In terms of optics, what will people take away from him being president if he's elected? (08:57) Talking about bringing things to the table, the value right of him being in that role, what will be the potential synergies that might be coming forth, as he works with the 4G leadership, when you think about how there's in a sense a change of guards, new leaders coming up, and also when you look at his relinquishing of some roles, who will be stepping up to take over some of these roles? (11:07) Let's take a quick look back at our current President, Madam Halimah Yacob - who is Singapore's first female president. Looking back at her six-year term, what would you say are the most notable and impressionable moments for you?  (13:08) And just to wrap things up, we've got the process of the Presidential Election set to begin when the Prime Minister issues the Writ of Election. So of course, we can't let you go for asking that million dollar question - when will the presidential election likely be held? Will it be after National Day?  See omnystudio.com/listener for privacy information.

The International Monetary Fund has faulted the Central Bank of Nigeria's monetary policy, saying that it has been ineffective in the fight against rising inflation. The IMF advised the Federal Government to tighten up its fiscal policy through investments in critical sectors capable of putting the economy on a better path in the long term. The IMF says While monetary policy has the tools to subdue inflation, fiscal policy can put the economy on a sounder long-term footing through investment in infrastructure, health care, and education; fair distribution of incomes and opportunities through an equitable tax and transfer system; and provision of basic public services.

The International Monetary fund (IMF) has openly criticised the UK's plans for tax cuts, warning the measures were likely to fuel the cost-of-living crisis. In a speech on Tuesday at the Labour Party conference in Liverpool, Sir Keir Starmer promised a "fresh start" for the UK pledging to invest in the NHS, green energy and "spread opportunity to all." Today's Martha Kearney discusses new government plans with the Labour leader Sir Keir Starmer on the last day of the party's annual conference. (Image Credit: REUTERS/Phil Noble)

It makes my blood boil. Since March I've been screaming about the Fed's total misreading of inflation — believing it's being caused by workers getting wage hikes, when the real cause is powerful corporations raising prices higher than their costs. I'm not so grandiose as to think my screams would have any direct influence on the Fed. My hope was that my argument and data might be picked up by a few voices in the media, which would lead some Democrats in Congress to pick up on it, and that maybe they'd put some pressure on the Fed — such as asking Fed chief Jerome Powell to respond to those arguments when he next testifies. It's not happened yet. Yesterday Powell and the Fed raised interest rates again — another three-quarters of a percent — bringing the official rate from near zero in March to over 3 percent now. Insane. Well, now I get a chance to tell Congress why this is insane. The House Oversight Committee's subcommittee on economic and consumer policy holds a hearing this morning and has asked me to testify. (Thankfully, they're allowing me to do it remotely from my home here in California, although the timing isn't ideal — the hearing starts 9 am Eastern Time, which is 6 am here — and because I'm the lead-off witness they want me to check in remotely at 5:45 am. I'll have to drink plenty of coffee.)When you testify before Congress, you get 5 minutes to summarize your views. You submit your detailed testimony, which is read by the committee's staff, who then give members of Congress questions to ask you based on the submitted testimony (the Democratic staff's questions are usually quite different from Republican staff's). Those questions, hopefully, allow you to get into the details. My aim is to state as clearly as possible that the underlying problem is not wage-price inflation. It's profit-price inflation. And the Fed's continuing rate hikes will hurt average workers by slowing the economy — making it harder for workers to get wage increases and causing many to lose their jobs. I'm going to suggest that Congress consider ways to control inflation that limit corporate profits rather than jobs and wages — such as a windfall profits tax, tougher antitrust enforcement, and even temporary price controls. Will Congress do any of this? Here again, I'm not so full of myself as to think I can sway a single member of Congress, let alone Congress as a whole. But in my experience, policy ideas that are useful and timely often find their way into politics — eventually displacing old ones that are no longer useful and may be damaging. At least that's my hope with “profit-price” inflation replacing the anachronistic “wage-price” inflation.I'm going to add my testimony to this post right after I testify this morning — and fill you in on what happened. ***The hearing was just adjourned. The good news is that the Democrats on the committee got it. They understood that big corporations raising their prices in excess of their costs — to score record profits — is a major reason for the inflation we're now experiencing. And workers are paying for those record profits in two ways — real wage losses (wage gains have been more than offset by price increases, making most workers worse off) and by the higher prices themselves (the result of corporations increasing their profit margins). I was particularly impressed by the chairman of the subcommittee, Representative Raja Krishnamoorthi (from the 8th district of Illinois), who understood the issues and expressed them cogently, and by Cori Bush (from the 1st district of Missouri), who asked terrific questions. Katie Porter did a fabulous job breaking the issue down. There was less discussion of remedies than I'd hoped — only passing reference to tougher antitrust enforcement and no real discussion of a windfall profits tax — and no criticism of the Fed (other than in my remarks and testimony). Not surprisingly, the Republicans on the committee were obstreperous and wildly partisan. All they did was try to blame inflation on the American Rescue Plan, Biden, and the Democrats. They repeatedly quoted Larry Summers's misleading claim that pandemic spending fueled inflation (even at one point asking me if I served with him in the Clinton administration, without giving me the chance to rebut him). They asked the Republican witness, Tyler Goodspeed (briefly chair of Trump's Council of Economic Advisors), to confirm their rhetorical questions but didn't ask me a thing. Like much of the rest of our governing processes, congressional hearings have degenerated into partisan posturing and name-calling. I experienced this starting in 1995 when Newt Gingrich became Speaker. For those of you who might be interested, here's the testimony I submitted this morning:***Mr. Chairman and members of the Committee,My name is Robert Reich. I'm the Carmel P. Friesen Professor of Public Policy at the Goldman School of Public Policy, University of California, Berkeley.Last week's consumer price index report shows annual inflation in the United States still roaring at 8.3 percent annually [1] -- the worst breakout of inflation since the 1980s.In response, the Fed has raised interest rates from near zero in March to over 3 percent yesterday, and has signaled it will keep raising rates until inflation is under control.I believe this strategy is a mistake. It assumes the current inflation is being driven by wage hikes and a tight labor market. But the underlying problem is not wage-price inflation. It is profit-price inflation.The Fed's rate hikes are hurting average working Americans whose real wages are already falling. Congress should consider alternative ways to control inflation that focus on corporate profits rather than jobs and wages.1. What's causing the current inflation?Inflation is not being driven by the usual suspects:Don't blame raw materials. The prices of commodities – wheat, natural gas, oil, and metals -- are falling.[2] That's partly because of a global slowdown, particularly in China, that is reducing worldwide demand.Don't blame intermediate goods. Last Wednesday's Bureau of Labor Statistics report on producer prices was fairly encouraging.[3] Even the prices of semiconductors and electronic components are slowing.[4]Don't blame inflationary expectations. Last week's New York Fed survey of inflationary expectations [5] was very positive. Expectations of continuing inflation have declined across the board.And – importantly -- it's not wages.Jerome Powell worries that “the labor market is extremely tight,”[6] and to “an unhealthy level.”[7] Some economists claim that inflation is “grounded in a red hot labor market.”[8]With due respect, this analysis is wrong. Although pay is still climbing, wage hikes have not kept up with inflation. This means most workers' paychecks are shrinking, in terms of purchasing power. So rather than contributing to inflation, wages are reducing inflationary pressures.As the accompanying graph shows, inflation-adjusted earnings have plunged.[9]2. The underlying problem is profit-price inflationWhat's a major reason prices are rising? Corporations are increasing their profit margins.In the second quarter of this year, U.S. companies raked in profits that were the highest on record or close to levels not seen in over half a century. As a share of GDP, U.S. corporate profits in the second quarter rose to 12.25%, their highest levels since 1950. (See graph below)Notably, corporate profit margins – over and above costs – continue to grow. (See chart below.)The labor market is not “unhealthily” tight, as Jerome Powell asserts. Corporations are unhealthily powerful.In a normally competitive market, corporations would keep their prices down to prevent competitors from grabbing away customers. As the White House National Economic Council put it in a December report: “Businesses that face meaningful competition can't [raise profit margins], because they would lose business to a competitor that did not hike its margins.”[10]The underlying problem is that large American corporations have so much market power they can raise profit margins – and prices -- with impunity.Since the 1980s, two-thirds of all American industries have become more concentrated.[11] This concentration gives corporations the power to raise prices because it makes it easy for them to coordinate price increases with the handful of other companies in their same industry, without risking the possibility of losing customers, who have no other choice.For example, Monsanto now sets the prices for most of the nation's seed corn. Wall Street has consolidated into five giant banks. Airlines have merged from 12 carriers in 1980 to four today, which now control 80 percent of domestic seating capacity. The merger of Boeing and McDonnell Douglas has left the US with just one large producer of civilian aircraft — Boeing. Three giant cable companies dominate broadband: Comcast, AT&T and Verizon. A handful of drug companies control the pharmaceutical industry. Two giant firms dominate consumer staples. A handful of national retailers and food outlets dominate local markets. And so on.Such concentration makes it easy for corporations to raise their prices beyond what is required to offset rising input costs. More than half of the companies surveyed by the business services reviews website Digital.com reported raising prices beyond what was required to offset rising costs.[12]As The New York Times pointed out, “corporate executives have spent recent earnings calls [with Wall Street analysts] bragging about their newfound power to raise prices, often predicting that it will last.”[13]3.    Examples from specific sectorsTake a closer look at specific sectors and you'll see profit-price inflation in action:Grocery prices are through the roof largely because just 4 companies – Archer-Daniels-Midland, Bunge, Cargill, and Louis Dreyfus, known collectively as ABCD – control an estimated 70 to 90 percent of the global grain trade,[14] making grain markets are even more concentrated than energy markets. All have raised their prices and gained record profits. Last year was Cargill's most profitable year in its history, with almost $5 billion in net income.[15]At the same time, just 4 companies control up to 85 percent of meat and poultry processing.[16] They too have raised prices above costs. Tyson's net income soared 47 percent, while it spent $700 million in shareholder buybacks.[17]Consumer packaged goods conglomerates -- such as Coca-Cola, Hershey's, PepsiCo, and Mondelez – are also highly concentrated. And they too are raising prices and reporting record earnings.[18] Coca-Cola has credited its increased net operating revenues to price hikes. Procter and Gamble has boasted of the “biggest annual sales increase in 16 years” with its net earnings soaring to $14.7 billion following price hikes on all of its products. It has paid out over $19 billion to shareholders.[19] Shipping conglomerates are expected to top last year's profits by over 73 percent or $256 billion.[20] Here again, it's because they have the power to raise prices. 80 percent of global merchandise is moved through the Big 3 shipping alliances. You can see a similar pattern in freight railroads. Over the last six years, the five largest railroad freight lines have increased their operating margins by over a third.[21]The ten largest U.S. retailers – all enjoying significant market power – have raised consumer prices while collectively reporting $24.6 billion in increased profits during the last two fiscal years. These same companies also ramped up stock buybacks by nearly $45 billion year-over-year for a total of $79.1 billion.[22]Gas prices are finally declining.[23] But they're still high, and major oil companies continued to have enough pricing power to gain a whopping $46 billion in earnings in the second quarter of this year.[24] It would be one thing if these corporations were investing their profits in additional capacity. At least this would reduce future inflationary pressures. But they have been using their profits to buy back their own shares of stock. This may be good for shareholders -- buybacks reduce a company's shares outstanding, raising its profits-per-share -- but it does nothing for the economy.There is a direct historic analogy. At the end of World War II, when the United States attempted to shift back from war production to civilian production, it experienced bottlenecks similar to those caused by the pandemic. Then, as now, consumers had high pent-up demand for all sorts of products and services. Then, as now, large corporations with market power took advantage of limited supplies and soaring demand to increase their prices and enjoy windfall profits. Then, as now, inflation soared.4.   The Fed's rate hikes are aimed at the wrong culprit  The Fed is using the only tool it possesses to fight inflation – interest rate hikes -- to do the one thing it has done in the past to fight inflation – slow the economy so real wages drop and unemployment rises. But when inflation is being driven by corporate pricing power, the major consequence of Fed interest rate hikes is to further depress wages and limit jobs.Rate hikes eventually diminish corporate profits because consumers have less money to spend on goods and services. But by then, average working people will have taken it on the chin.  As the economy cools due to interest rate hikes, they are less likely to get wage increases that keep up with inflation. In consequence, they will fall further behind. As the economy slows and unemployment rises, average working people and the working poor will be the first to be fired and the last to be hired.On August 26, Powell said the Fed must continue to raise interest rates, even though it will “bring some pain” to households.[25]  How much pain? Researchers at the International Monetary fund estimate that unemployment may need to reach 7.5 percent -- double its current level -- to end the country's outbreak of high inflation. This would entail job losses of about 6 million people.[26]Who will bear this pain? Not corporate executives, not Wall Street, not the wealthy and not the upper-middle class. It will be borne by average working people.5.  Better ways to stop profit-price inflationIn fairness to the Fed, it doesn't have the tools it needs to prevent profit-price inflation. The responsibility falls on Congress and the administration to take on corporate pricing power directly through a windfall profits tax, bolder antitrust enforcement, and, if necessary, price controls.Congress and the Biden administration enacted a 1 percent tax on stock buybacks in the recently enacted Inflation Reduction Act, along with a minimum corporate tax. These measures are important, but they don't go far enough. They still leave most of the burden of fighting inflation on average working people and the poor.A windfall profits tax would help. One way to structure it would be to place a temporarily tax on any price increases that exceed the producer price index – that is, the costs of producing consumer goods. Congress could also direct the Federal Trade Commission to investigate whether prices reasonably reflect additional costs or amount to opportunistic price-gouging. The FTC already has the power to carry out such investigations and impose penalties under existing law.[27]Bold antitrust enforcement is essential. Antitrust litigation is complex and time consuming (I directed the policy planning staff at the Federal Trade Commission in the Carter Administration and saw this firsthand). But the credible threat of aggressive antitrust enforcement can deter corporations from raising prices higher than their costs.Congress must appropriate sufficient funds for the Antitrust Division of the Justice Department and the Bureau of Competition of the Federal Trade Commission to enable both agencies to attack excessive corporate concentration, which continues to harm workers and consumers. Price controls should be a backstop. Price controls have many disadvantages, in terms of distorting markets and deterring investment. They worked well in World War II, less well in the 1970s when they were half-baked and badly executed.  But as I've argued, the current inflation is most directly analogous to what occurred immediately after World War II when supplies were still limited, pent-up demand had soared, and corporations were making windfall profits. At that time and under those circumstances, many of America's most distinguished economists argued that price controls on important goods should continue temporarily, in order to buy the time necessary to overcome supply bottlenecks and prevent corporate profiteering.[28] They should be considered now, for the same reasons.ConclusionCongress and the administration have the power to stop corporations from using their market power to raise prices. It is far better that Congress and the administration take direct against this sort of inflation than relying solely on the Federal Reserve to raise interest rates to slow the economy and risk another recession – putting the entire burden on fighting inflation on average working people, who are not responsible for it.[1] https://www.bls.gov/news.release/cpi.nr0.htm[2] https://www.intellinews.com/commodity-prices-fall-across-the-board-as-the-market-adjusts-to-the-sanctions-realities-256384/[3] https://www.bls.gov/news.release/ppi.nr0.htm[4] https://www.theregister.com/2022/07/14/intel_plans_price_hikes_for/[5] https://www.newyorkfed.org/newsevents/news/research/2022/20220912[6] https://www.federalreserve.gov/newsevents/speech/powell20220321a.htm[7] https://www.federalreserve.gov/newsevents/speech/powell2023221.htm[8] https://www.nytimes.com/2022/09/15/business/economy/inflation-markets-economy.html[9] Refinitiv Datastream/ BLS/ BEA. Reuters Graphic E. Burroughs.[10] https://www.whitehouse.gov/briefing-room/blog/2021/12/10/recent-data-show-dominant-meat-processing-companies-are-taking-advantage-of-market-power-to-raise-prices-and-grow-profit-margins/[11] https://hbr.org/2018/03/is-lack-of-competition-strangling-the-u-s-economy[12] https://digital.com/half-of-retail-businesses-using-inflation-to-price-gouge/[13] https://www.nytimes.com/2022/02/27/business/economy/price-increases-inflation.html[14] https://www.theguardian.com/environment/2022/aug/23/record-profits-grain-firms-food-crisis-calls-windfall-tax?CMP=Share_iOSApp_Other[15] https://accountable.us/meatpacking-profiteers-testifying-today-saw-nearly-13b-in-profits-after-racking-up-384m-in-price-fixing-fines-and-settlements/[16] https://accountable.us/meatpacking-profiteers-testifying-today-saw-nearly-13b-in-profits-after-racking-up-384m-in-price-fixing-fines-and-settlements/[17] https://accountable.us/meatpacking-profiteers-testifying-today-saw-nearly-13b-in-profits-after-racking-up-384m-in-price-fixing-fines-and-settlements/[18] https://www.modernretail.co/retailers/citing-inflation-cpg-conglomerates-are-raising-prices-and-earning-record-profits/[19] https://accountable.us/profiteering-watch-procter-gamble-boasts-biggest-annual-sales-increase-in-16-years-after-excessive-price-hikes/[20] https://www.bloomberg.com/news/articles/2022-08-09/container-lines-to-smash-year-old-profit-record-with-73-surge[21] https://www-wired-com.cdn.ampproject.org/c/s/www.wired.com/story/a-us-freight-rail-crisis-threatens-more-supply-chain-chaos/amp[22] https://accountable.us/wp-content/uploads/2022/06/CPI-Retail-Report-Release.pdf[23] https://www.forbes.com/sites/sergeiklebnikov/2022/09/07/oil-prices-hit-seven-month-low-as-recession-fears-weigh-on-demand[24] https://www.nbcnews.com/business/business-news/oil-companies-record-earnings-sky-high-gas-prices-linge-rcna40622[25] https://www.nytimes.com/2022/08/26/business/economy/jerome-powell-inflation.html?smid=nytcore-ios-share&referringSource=articleShare[26] https://www.brookings.edu/bpea-articles/understanding-u-s-inflation-during-the-covid-era/[27] https://www.congress.gov/bill/117th-congress/house-bill/675/text[28] https://timesmachine.nytimes.com/timesmachine/1946/04/09/93087670.html?pageNumber=23 This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit robertreich.substack.com/subscribe

Milton Friedman student and University of Chicago-trained monetary economist Warren Coats (Johns Hopkins fellow, former IMF economist and central bank advisor to over 20 countries) speaks about his beginnings as an economist as PhD student of Milton Friedman's at the University of Chicago, his 30 year career at the IMF leading central bank technical assistance developing currencies and monetary policy in countries ranging from post-USSR Eastern Europe, post-conflict Bosnia and Kosovo in the 1990s as well as Afghanistan and Iraq in the 2000s following regime change. We also discuss the future of SDRs and the US dollar as a reserve currency in the International Monetary System along with Warren's experience as chief of the IMF SDR division. Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Dooley is a chief economist for Figure Technologies and a 20-year veteran of the Federal Reserve System and the IMF. Michael is also a professor emeritus in the department of economics at the University of California, Santa Cruz, and he joins Macro Musings to talk about the international monetary system and the future of the dollar. Specifically, David and Michael also discuss the original and revised Bretton Woods systems, the Fed's role as a monetary superpower, and what this means for the US as a provider of safe and unsafe assets.   Transcript for the episode can be found here.   Michael's UC Santa Cruz profile Michael's NBER archive   David's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Click here for the latest Macro Musings episodes sent straight to your inbox!   Related Links:   *US Sanctions Reinforce the Dollar's Dominance* by Michael Dooley, David Folkerts-Landau, and Peter Garber   *Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?* by Ethan Ilzetzki, Carmen Reinhart, and Kenneth Rogoff   *Dilemma Not Trilemma: The Global Financial Cycle and Monetary Policy Independence* by Helene Rey   *The Global Financial Cycle* by Helene Rey and Silvia Miranda-Agrippino

It was a big week for cryptocurrency with the announcement that the Central African Republic has become the second country to adopt Bitcoin as a national currency. Although that is certainly a cause for celebration among the Bitcoin community, I think this decision has broader implications not just for crypto but the larger international monetary system. In today's post, I'd like to use this recent news as a tangible illustration of several monetary and international relations theories. #btc #crypto #education

In this episode, we chat about some notable companies now entering blockchain and cryptocurrency. We are hearing more bitcoin talk at government levels and when will game theory start to kick in where nations are forced to buy bitcoin or risk being left behind.  We discuss:02.30 – Circle CEO04.20  – Price Predictions09.15 – IMF Bricking It14.00 – Bitcoin National Security24.00 – UK is starting to Adopt   Sign Up to Crypto.com Crypto Card and Get $25 FREE: https://crypto.com/app/cryptostandard Discord Community: https://discord.gg/7XGdkbJCdaYouTube Channel: https://www.youtube.com/channel/UCYUf-KrEQN3RbGi5xWZfXSQ TwitterPodcast - https://twitter.com/NoCrypticCryptoJordan- https://twitter.com/jayw132?s=21Jim- https://twitter.com/crypto_standard?s=21 Instagramhttps://www.instagram.com/crypto.standard/ If you have any questions at all, please contact us at hello@crypto-standard.co.uk or reach out to us on social media as we would love to help. Please remember we are not financial advisors and nothing in the podcast is advice, we are just trying to educate you on the world of crypto. If you like the podcast, we would really appreciate it if you could leave us a review. Thank you and see you for the next episode.

Lebanon's central bank says that it would fulfil all data requests from the consultancy Alvarez & Marsal for a forensic audit of its accounts amid reports that the firm was set to pull out due to a lack of cooperation. The audit is seen as a key condition for an International Monetary fund support programme and other foreign aid to stem Lebanon's deepest economic crisis since its 1975-1990 civil war. Little progress has been made to address the crisis since the pound began to decouple from its 23-year-old peg to the US dollar in 2019.

Lebanon's central bank says that it would fulfil all data requests from the consultancy Alvarez & Marsal for a forensic audit of its accounts amid reports that the firm was set to pull out due to a lack of cooperation. The audit is seen as a key condition for an International Monetary fund support programme and other foreign aid to stem Lebanon's deepest economic crisis since its 1975-1990 civil war. Little progress has been made to address the crisis since the pound began to decouple from its 23-year-old peg to the US dollar in 2019.

Lebanon's central bank says that it would fulfil all data requests from the consultancy Alvarez & Marsal for a forensic audit of its accounts amid reports that the firm was set to pull out due to a lack of cooperation. The audit is seen as a key condition for an International Monetary fund support programme and other foreign aid to stem Lebanon's deepest economic crisis since its 1975-1990 civil war. Little progress has been made to address the crisis since the pound began to decouple from its 23-year-old peg to the US dollar in 2019.

Zimbabwe once sat as a powerhouse alongside Africa's biggest economies. Over the past two decades though, Zimbabwean's have been on an economic rollercoaster, experiencing crashes, strikes, hyperinflation and unemployment. Millions of people left the country in search of guaranteed work and better wages. Many of them are still overseas. However, in the last few months, the economy has shown the first signs of improvement. The International Monetary fund has predicted growth of 6% this year. And the government is hoping for even better. So, is Zimbabwe's economy beginning to recover? And is it enough to tempt people home? Host: Alan Kasujja (@kasujja) Guests: Ngonidzashe Kwangwari is a domestic worker living in South Africa Prosper Chitambara is an economist at the Labour and Economic Development Research Institute of Zimbabwe Nyasha Mupaso is a mushroom farmer based in Harare #AfricaDaily

Steffen Murau is a political economist at the Global Development Policy Center at Boston University and specializes in international money and finance. He joins Macro Musings to talk about the Eurozone, its role within international monetary architecture, and the future of the dollar zone. They also discuss balance sheet hierarchies, the roles of European banks compared to their American counterparts, and the fiscal ecosystem present within the Eurozone.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Steffen's Twitter: @steffenmurau Steffen's website: https://steffenmurau.com/ Steffen's GDPC profile: https://www.bu.edu/gdp/profile/steffen-murau/   Related Links:   *A Macro-Financial Model of the Eurozone Architecture Embedded in the Global Offshore US-Dollar System* by Steffen Murau https://www.bu.edu/gdp/files/2020/07/Murau-Eurozone-architecture.pdf   *The Hierarchy of the Offshore US-Dollar System: On Swap Lines, the FIMA Repo Facility and Special Drawing Rights* by Steffen Murau, Fabian Paper, and Tobias Pforr https://www.bu.edu/gdp/files/2021/02/Steffen-Murau-GEGI-Study-2-Feb-2021.pdf   *The Evolution of the Offshore US-Dollar System: Past, Present, and Four Possible Futures* by Steffen Murau, Joe Rini, and Armin Haas https://www.cambridge.org/core/journals/journal-of-institutional-economics/article/evolution-of-the-offshore-usdollar-system-past-present-and-four-possible-futures/B36ED9082CECE54F3F5B8E8F40D15148   David's blog: macromarketmusings.blogspot.com David's Twitter: @DavidBeckworth

Please support our patreon.  For early and ad-free episodes, members-only content, and more.Andres Bernal (@andresintheory) is Associate Editor of Money on the Left, Policy Advisor to Dianne Morales, and former policy advisor for Alexandria Ocasio-Cortez,  professor of critical-heterodox policy studies at  The New School.  We discuss the development of Left MMT, getting MMT policy beyond national boundaries and the developed world, and the situation in Colombia and in the rest of Latin America.Abandon all hope ye who subscribe here.   We are affiliated with the Emancipation Network.Crew:Host: C. Derick VarnAudio Producer: Paul Channel Strip  ( @aufhebenkultur )Intro and Outro Music by Bitter Lake.Intro Video Design: Jason MylesLinks and Social Media:twitter: @skepoetFacebookYou can find the original stream on Youtube Support the show (https://www.patreon.com/varnvlog)

Patricia and Christian talk to Professor John T Harvey about international monetary economics, what influences currency prices, and much more.   Please help sustain this podcast!  Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order:  https://www.patreon.com/posts/43111643   All our episodes with John T. Harvey:  https://www.patreon.com/posts/44371783   Our episodes on inflation:  Episode 7: https://www.patreon.com/posts/41780508 Episode 65: https://www.patreon.com/posts/40672678   Our episode on the external sector: Episode 72: https://www.patreon.com/posts/43043601   Previous episodes on currency prices: Episode 6: https://www.patreon.com/posts/41779230 Episode 41:https://www.patreon.com/posts/32695528 Episode 64: https://www.patreon.com/posts/40518059  Episode 72: https://www.patreon.com/posts/43043601   Our Episode 10 with Chiara Zoccarato on The Eurozone crisis:  https://www.patreon.com/posts/41789282   Our Episode 55 with Dr Dirk Ehnts on A Way Forward For The Eurozone: https://www.patreon.com/posts/38252014   Professor John T Harvey’s writing: Money Growth Does Not Cause Inflation!: https://www.forbes.com/sites/johntharvey/2011/05/14/money-growth-does-not-cause-inflation/?sh=d18253a42f58#185812f542f5   Currencies, Capital Flows and Crises: A Post Keynesian Analysis of Exchange Rate Determination: https://www.amazon.com/gp/product/B002132QYM/ref=dbs_a_def_rwt_hsch_vapi_taft_p1_i0   Transcript for opening monologue: https://www.patreon.com/posts/44373910   Show notes: https://www.patreon.com/posts/44373728 

May 28 2020: The system is in trouble and now COVID-19 has brought its fragility into question yet again. Whether by evolution or revolution, change is inevitable. The implications for investors reliant on the system will be immense. Russell Silberston explores this in the latest podcast in the series looking at the Great Shutdown and its implications for investors. Visit ninetyone.com and search for ‘under pressure' to read the full report. Part of a new series by the Ninety One Investment Institute. See acast.com/privacy for privacy and opt-out information.

From significant contribution in Asia Summit, World Trade Organization, International Monetary fund, G8+5 to International Solar Alliance, the evolution of Indian Foreign Relations as well as India’s emergence as the Global Super Power and becoming the Vishwaguru is phenomenal! --- Send in a voice message: https://anchor.fm/iambuddhafoundation/message

Trump hints he's looking at a total quarantine of New York. What causes these seemingly random statements? I discuss the critical thing everyone misses about the way Trump works. Plus, the latest efforts on a Coronavirus treatment, and the lasting impacts on the economy. Also - the post-election battle already brewing, and the quickly changing dynamics of the participants. Join the Unfilter Discord (https://discord.gg/3xxPjAa) Links: Joe A sexual assault allegation against Joe Biden has ignited a firestorm of controversy (https://www.msn.com/en-ca/news/us-election-2020/a-sexual-assault-allegation-against-joe-biden-has-ignited-a-firestorm-of-controversy/ar-BB11QVXM) Biden campaign adamantly denies allegation of sexual assault | Fox News (https://www.foxnews.com/politics/biden-campaign-denies-false-allegations-of-sexual-assault) Coronavirus Woman Who Ingested Fish Tank Cleaner Was Prolific Donor to Democratic Causes (https://freebeacon.com/latest-news/woman-who-ingested-fish-tank-cleaner-was-prolific-donor-to-democratic-causes/) Coronavirus outbreak may be over sooner than you think - Los Angeles Times (https://www.latimes.com/science/story/2020-03-22/coronavirus-outbreak-nobel-laureate) Hospital Ship USNS Comfort Arrives In New York To Ease Coronavirus Pressure : Coronavirus Live Updates : NPR (https://www.npr.org/sections/coronavirus-live-updates/2020/03/30/823826987/hospital-ship-usns-comfort-arrives-in-new-york-to-ease-coronavirus-pressure) Elderly woman fatally smacked in Brooklyn for not social distancing (https://nypost.com/2020/03/29/elderly-woman-dies-after-being-shoved-for-not-social-distancing-sources/) Opinion: NPR's Evolving Coverage Of Live White House Coronavirus Briefings (https://www.npr.org/sections/publiceditor/2020/03/26/821327277/opinion-nprs-evolving-coverage-of-live-white-house-coronavirus-briefings) Coronavirus in the US: Trump defends extending COVID-19 distancing guidelines as spread continues (https://abc7news.com/politics/trump-defends-extending-coronavirus-distancing-guidelines-as-spread-continues/6062870/) Trump backs down on NY quarantine threat after Cuomo slams president’s ‘anti-American’ coronavirus proposal (https://www.the-sun.com/news/604376/andrew-cuomo-new-york-coroanvirus-slams-donald-trump/) CDC asks residents of N.Y., N.J. and Connecticut to refrain from 'non-essential travel' for 14 days (https://www.nbcnews.com/politics/white-house/trump-considering-enforceable-quarantine-n-y-parts-n-j-connecticut-n1171186) Economy Oil Hovers Just Above 18 Year Low After Putin-Trump Hold Phone Call | Zero Hedge (https://www.zerohedge.com/energy/oil-hovers-just-above-18-year-low-after-putin-trump-talk) Opening Remarks at a Press Briefing by Kristalina Georgieva following a Conference Call of the International Monetary and Financial Committee (IMFC) (https://www.imf.org/en/News/Articles/2020/03/27/sp032720-opening-remarks-at-press-briefing-following-imfc-conference-call) For the Class of 2020, a Job-Eating Virus Recalls the Great Recession - The New York Times (https://www.nytimes.com/2020/03/27/business/coronavirus-class-of-2020-jobs.html) Amazon workers to stage a walkout Monday, demanding closure of Staten Island facility - CNN (https://www.cnn.com/2020/03/29/tech/amazon-workers-walkout-coronavirus/index.html) Episode 985: Where Do We Get $2,000,000,000,000? : Planet Money : NPR (https://www.npr.org/2020/03/26/821787090/episode-985-where-do-we-get-2-000-000-000-000) Service sector job cuts from COVID-19 likely to hit younger workers more | Pew Research Center (https://www.pewresearch.org/fact-tank/2020/03/27/young-workers-likely-to-be-hard-hit-as-covid-19-strikes-a-blow-to-restaurants-and-other-service-sector-jobs/) Coronavirus update: Job losses could total 47 million, unemployment rate of 32%, Fed says (https://www.cnbc.com/2020/03/30/coronavirus-job-losses-could-total-47-million-unemployment-rate-of-32percent-fed-says.html) Boeing to Emerge as Big Stimulus Winner - WSJ (https://www.wsj.com/articles/boeing-to-emerge-as-big-stimulus-winner-11585331293)

H.R. 6074 — “Making emergency supplemental appropriations for the fiscal year ending September 30, 2020, and for other purposes.” This bill provides $8.3 billion in emergency funding for federal agencies to respond to the coronavirus outbreak.Agreed to by the Yeas and Nays: (2/3 required): 415 – 2 (Roll no. 86). Senate passage imminent. H.R. 5931 – Improving FHA Support for Small Dollar Mortgages Act of 2020, as amended (Rep. Clay – Financial Services)  This bill directs the Department of Housing and Urban Development (HUD) to report on barriers to making Federal Housing Administration (FHA) single-family mortgage insurance available for mortgages under $70,000. Specifically, HUD must report on policies, practices, and products used by the FHA and actions that will be taken to remove such barriers.   Agreed to by voice vote. H.R. 5003 – Fair Debt Collection Practices for Service members Act, as amended (Rep. Dean – Financial Services)  This bill prohibits a debt collector from (1) representing to service members that failure to cooperate with a debt collector will result in a reduction of rank, a revocation of security clearance, or military prosecution; or (2) communicating with a service member’s superiors in the chain of command.   Agreed to by the Yeas and Nays: (2/3 required): 355 – 0 (Roll no. 79). H.R. 5932 – Ensuring Chinese Debt Transparency Act of 2020, as amended (Rep. Hill – Financial Services)  This bill states that it is U.S. policy to push for greater transparency with respect to financing provided by China to another country through international financial institutions such as the International Monetary Fund. The National Advisory Council on International Monetary and Financial Policies within the Department of the Treasury shall report annually on progress made toward advancing this policy.   Agreed to by the Yeas and Nays: (2/3 required): 356 – 0 (Roll no. 80). H.R. 4351 – Yes In My Backyard Act, as amended (Rep. Heck – Financial Services) This bill requires certain Community Development Block Grant program recipients to submit to the Department of Housing and Community Development information regarding their implementation of certain land-use policies (e.g., policies for reducing minimum lot size).Agreed to by voice vote. H. Res. 387 Central African Republic and supporting efforts to achieve a lasting political solution to the conflict, as amended (Rep. Cicilline – Foreign Affairs)  Passed/agreed to in House: On motion to suspend the rules and agree to the resolution, as amended Agreed to by the Yeas and Nays: (2/3 required): 378 – 7 (Roll no. 81). H.R. 4508 – Malala Yousafzai Scholarship Act, as amended (Rep. Jeffries – Foreign Affairs)  This bill requires the U.S. Agency for International Development to award at least 50% of the number of scholarships under the Merit and Needs-Based Scholarship Program to Pakistani women for each of the calendar years 2020-2022.  Agreed to by the Yeas and Nays: (2/3 required): 374 – 16 (Roll no. 82). S. 1678 – Taiwan Allies International Protection and Enhancement Initiative (TAIPEI) Act of 2019, as amended (Sen. Gardner – Foreign Affairs) Passed Senate with an amendment by Unanimous Consent. Senate-Agreed to by voice vote. House-Agreed to by the Yeas and Nays: (2/3 required): 415 – 0 (Roll no. 85). H.Res. 230 – Expressing the sense of the House of Representatives that the United States condemns all forms of violence against children globally and recognizes the harmful impacts of violence against children, as amended (Rep. McGovern – Foreign Affairs)   Agreed to by voice vote H.R. 1140 – Rights for Transportation Security Officers Act of 2020 (Rep. Thompson (MS) – Homeland Security) (Subject to a Rule)  To enhance the security operations of the Transportation Security Administration and stability of the transportation security workforce by applying the personnel system under title 5, United States Code, to employees of the Transportation Security Administration who provide screening of all passengers and property. Motion to Proceed to S. 2657 (Legislative Vehicle for the American Energy Innovation Act), post-cloture. The Motion to Proceed was agreed to by a vote of 90-4.  S. 2657 (Legislative Vehicle for the American Energy Innovation Act), The Secretary shall support an initiative among the Office of Fossil Energy, the Office of Energy Efficiency and Renewable Energy, and the private sector to modify, improve, and demonstrate the use in geothermal energy development of relevant advanced technologies and operation techniques used in the oil and gas sector. H.R. 8 (The Bipartisan Background Checks Act).  prohibits a firearm transfer between private parties unless a licensed gun dealer, manufacturer, or importer first takes possession of the firearm to conduct a background check. The prohibition does not apply to certain firearm transfers, such as a gift between spouses in good faith.  House: On passage Passed by the Yeas and Nays: 240 – 190 (Roll no. 99).  Senate-Murphy asked unanimous consent that the bill be read three times and passed. Enzi objected. S. 893 (Secure 5G and Beyond Act of 2019). T his bill requires the President, in consultation with relevant federal agencies, to develop a strategy to secure and protect U.S. fifth and future generations (5G) systems and infrastructure. Such strategy shall (1) ensure the security of 5G wireless communications systems and infrastructure within the United States; (2) assist mutual defense treaty allies, strategic partners, and other countries in maximizing the security of 5G systems and infrastructure; and (3) protect the competitiveness of U.S. companies, privacy of U.S. consumers, and integrity of standards-setting bodies.  Passed Senate with an amendment by Unanimous Consent. H.R.5214 (To amend title 5, United States Code, to prevent fraud by representative payees). It shall be unlawful for a representative payee to embezzle or in any manner convert all or any part of the amounts received from payments received as a representative payee to a use other than for the use and benefit of the minor or individual on whose behalf such payments were received. House-Agreed to by voice vote. Senate-Passed Senate without amendment by Voice Vote Passed by voice vote. H.R.4334 (To amend the Older Americans Act of 1965 to authorize appropriations for fiscal years 2020 through 2024).  Among other things, the bill reauthorizes through FY2024 and revises programs that support caregivers of the elderly;informational services, such as pension counseling;nutritional services, such as meal delivery; disease prevention and health promotion services;community and workforce training regarding elder care; and abuse and neglect prevention services. House Agreed to by voice vote. Senate – The Collins amendment at the desk was agreed to. The bill as amended was agreed to by voice vote. Support the show.

Bernice Butler and Co-Host Tony Keene from EarthX, welcome expert Katharine Hayhoe. In this special episode Hayhoe addresses climate-deniers, clean energy, and faith. Hayhoe dives into energy production, where 75% of our pollution comes from fossil fuels, and the easiest and most impactful way to combat this is clean energy. However, the richest corporations in the world are currently being subsidized by the tax payer to keep the cost of fossil fuels low. This is a fact that most people don’t realize. Many people think that clean energy is being subsidized because of the rebates we receive when we purchase electric vehicles. In reality, these rebates are 10% of the subsidy that are given to the fossil fuel industry (the International Monetary fund breaks this all down). It all breaks down to fact that big industry is profiting from taxpayer’s money to continue our reliance on an outdated, and frankly dirty way, of producing energy that we have since outgrown. The bad news about our current energy sectors, 200,000 people day in the USA alone from air pollution, chemicals and dangerous pollutants leach into our streams and waterways and soil every day from the fossil fuel industry causes endless health risks. The good news, we’re making progress, United airline is running biofuel flights out of LAX. Energy and fuel are straightforward ways to implement clean energy. Other spheres are more complicated, but with a mix of new clean energy technology we can tackle all our energy sectors. Further, Hayhoe reminds our listeners that the only “type of person” you have to be to care about climate change is a human. We don’t need to move climate change up to the top of our list, because climate change impacts everything on our list already. We must come together on what we already care about, may it be our faith, our jobs or our health, to connect the dots to climate action. For the number one most important thing we can do about climate change is…TALK ABOUT IT. Hayhoe references her incredible Youtube series Global Weirding, watch her series on nadallas.com, healthylivinghealthyplanetradio.com and of course on her youtube channel. Community Pulse: General Honoré joins HLHP to speak about climate change, leadership and mobilizing action. --- Support this podcast: https://anchor.fm/healthy-radio/support

Welcome!   Today there is a ton of stuff going on in the world of Technology and we are going to hit a number of topics from the dangers of Android phones to various scams involving hiring and Black Friday and some tips on staying safe -- so stay tuned. For more tech tips, news, and updates visit - CraigPeterson.com --- Related Articles: Reduce Vulnerabilities by Ditching Android Tackling Ransomware on Windows Cellular Throttling and Why it cost AT&T a Chunk of Change Big Data, Data Brokers and Your Information The hanging of an MSP “Shingle” and Your Business Security Hiring and Issues with Scam Online Applications Another “Pay--ment” System Introduced Hand in Hand On Black Friday --- Shopping and Privacy Imposter Retailers Outnumber Legitimate Ones --- Automated Machine-Generated Transcript: Craig Peterson Hey, hello, everybody. Craig Peterson here on the air at WGAN and all over the world on podcasts. You can listen to me by just going to Craig peterson.com slash iTunes that'll bring up the 800-pound gorilla podcast site. You can also go to Craig Peterson dot com slash iTunes in and listen to my podcasts there, of course, and you can listen on right here to this station also on tune in radio. Additionally, listen to me when I'm on the air, three mornings a week now different stations different coverage. All of those end up on my podcast feed. I appreciate everybody who is going there and giving me a five-star rating. I know there are also a lot of people that are tuning in for the first time. Welcome. Welcome to all of you guys and gals. It is a wonderful, wonderful experience for me because we get new people, and I get to help teach you guys, help you to be able to understand the latest in technology. That's what I talk about every week. I have been in the technology business for many, many decades now. And I am still enjoying it. But you know, it's time for me to start giving back and start trying to help everybody understand what's going on. We spend a lot of time discussing security, what you should do for your home, what you should be doing for your Small Office/Home Office. Many of us, like me, work out of their houses now. That means you have different problems. When we catch China, Russia, and North Korea and then all of the criminal organizations all over the world. We've got all of those people trying to attack us. It gets very, very difficult to keep our data set. safe. And of course also, with all of the new technology, how do you use it? How do you make it work? Just this morning, we were on with a client, and they were meeting this is common, okay. But they were misusing the system that they have in place. They have a system that's in place to allow them to do diagrams, engineering diagrams. And unfortunately, the people they trusted to put it together to configure it, they did not do it anywhere near properly, nothing is SPECT, right, etc. And I know you'd think an engineering firm would understand that the specifications are there for a reason. They're there to be followed, right. And so the system has just been kind of, you know, hack together trying to make this thing work. And there ended up being an air coming up on their screen, and then the Good news, I guess for them is they had us be able to help them because I don't think there's anybody else out there. That is, you know, easy enough to find someone that could help them with this problem because the air looked like it was a licensing problem. The problem was that the database that they were using had lock records on it. Here's how they were using it. They have a database and applications that are running on this underpowered server. They were being accessed remotely by someone using a VPN on a laptop. And you know it all sounds pretty reasonable. The way they were doing it was running the application over on the laptop instead of on the server. So what they should have been doing is using either a virtual machine that that person could Connect remotely or use a terminal server that Microsoft provides. What happens is now he's running the app, the app is accessing the database via the VPN. So far, so good, right? Make sense? This virtual private network is letting his laptop think it's on the corporate network. This company has dozen-plus employees and a server with a database on it. The database is handling all the queries it's going through. Now, when you're talking about databases, I'm trying not to get too technical here, everybody. When you're talking about a database for a program, the database, hopefully, has what is called business rules in it. For instance, if you add a customer, you're not just putting one record in the database, you have a record that gives the basic information about the customer. It includes the name, maybe the address, and then you've got another record that's got the customer contact, who it is. Then there are also records about what they would buy for from us with totals, encounters, and things. It's called D normalizing a database. So all of these different records are created in different tables, maybe even different databases, but it's almost always one database. And so in order to keep all this information properly synchronized, because you don't want to have a record for the company, a business a client, and then have the, the your programs trying to access now how do I get ahold of this client and so it tries to go to the phone number database, so I'm just oversimplifying this slightly. Still, there's no record for the phone number database, you don't want that to happen. So what you do is you use a lock, and the lock helped to enforce these business rules to make sure Hey if I'm creating a new customer, I want to make sure I have their name, their address, the contact that we have. And so a contact record, and the type of company, maybe an inventory item, just in time stuff, whatever it might be, all of that needs to be there in the database. What happens is, there's what's called an atomic transaction. The database program, the software that you're running, identifies the customer contact and his records and returns the records for the company itself, the records for the inventory, and the shipping information records. And then it says, commit this all to the database. At that point, the database already has all of these records and reports it is ready to commit. Everything is there. What was happening with this client is they were on a VPN. And they were running the software over on the laptop. The software on the laptop was saying, Okay, so here's, here's the client we're dealing with, and we've got some new information for them. So let's insert this new information in the database. And so the database does a lock to hold. So we can get a customer number to generate all of this stuff in case somebody else is trying to do it. And then, the VPN connection goes away, or the laptop crashes. Something happens, right? Now, the application could crash crash, and if its on the server, the database could crash on the server, all of that stuff could happen. So when you get right down into it, there are tools to try and recover. But in this case, records were locked. They weren't lost. They were locked. So now when they went back in they were getting in an error message, they really couldn't understand what's going on here. Why? Why am I getting this error? We had to delve into it and contact the app developers and look at the databases, and then we had to remove the locks manually. Now, that's just great. We remove the locks. What that probably means they have a corrupted database, one that was corrupted silently, in a way that no one understands. And in some cases, if it's a real expensive application, it probably has stuff that does continuity checks and makes sure there's congruence between all the records. But that's not the case here. You know what it reminds me I saw the same thing at a doctor's office. They've been using the same software for many, many years. And the software uses a very, very basic database and This database, and I don't even know if I would call it a database, right? But I think of the old retrieve stuff if you're an old-timer like me, and what we used to do with those and which is great because it the beat trivalent, you put data out into files and then allows you to access it very, very quickly. But by today's standards, you would not consider that a database. So over the years, when they had a problem, they would just shut off the computer and then turn it back on, reboot, right. So now we're helping them win factory finish migration of all of their data from this very old it using 30-year-old technology, this ancient system for the doctors practice to a very modern one on Max, and it's cool the stuff they can do. You know, they can immediately while you're sitting there with the doctor, the doctor can check right away, what drugs you're on from other providers because the pharmacy that you use keeps all that information, it's all tied right in real-time. And the doctor can check for possible conflicts of some of these medications and immediately issue the prescription. So it's before you leave your consultation with the doctor. It's all done. It's just amazing for them, and they're having a hard time with some of these concepts. And I get that right. If you're using 30 old 30-year-old design software, which so many people are you know, some of these companies like Kronos, they have some new stuff, but they're selling some stuff that's just decades old. It's just been, you know, modified, modified. And so the basic concepts behind the software aren't there. So they had been turning off their computers. Off and on resetting control, alt, delete, right, all of those things that we've all done before. And their database was as corrupt as can be. And manual processes instead of automated processes to try and get their database up to snuff. So anyways, an engineering firm, we got it taken care of for them. Still, their databases almost certainly got corruptions in it, because they're not doing it as backed by the manufacturer. Right. And you'd think as I said, they know better. And we've got the doctor's office all up and running too. So that's good. So anyway, if you ever want to know a little bit about databases, you just learned it. When we come back. Hey, we're going to be talking about shopping Black Friday, Cyber Monday privacy. That's coming up today, and we're going to talk about Android again, and a whole lot more. Of course, you're listening to Craig Peterson online, Craig Peterson, calm and I'm WGAN Hello, everybody, Craig heater song here hopefully you're enjoying today's show so far. Let's give a little bit of a rundown of what's coming up. We've got our Black Friday, Cyber Monday shopping information coming right up here shopping and privacy on today's show the number of imposture retailers. It is crucial, and I'm going to help you understand these sites because they are the imposter websites is outnumbering the legitimate websites for retailers and we're getting caught all of the time. We're going to talk a little bit about the IM and MSP shingle to your business security. I saw this again, and some of these ms peas MSS peas are they break from shops is what we call them. In other words, you call them when you have a problem. They're not proactive. But it turns out now not only they're not good at security, but they are a massive target for hackers. We'll talk about how that's a problem for your business and some things you can do about that. Hiring issues. Right now. If you're looking for a job that some of this scam online application stuff with this going on will tell you more targeting and tackling here some ransomware on Windows, which is way way up. Big Data brokers and your information. We talked a little bit last week about what Google's doing with Project Nightingale, which is scary enough, but we're going to get into that. Facebook is introducing a new payment system. You might remember they were trying to launch this whole cryptocurrency, and it fell flat. Well, we'll talk a little bit about this Calibre wallet that's coming to our way, and cellular throttling and why it cost AT&T a chunk of change. If you use AT&T, you may be getting a check. You will have to fill out some forms. Then I discuss how you can reduce vulnerabilities by ditching Android. It is amazing. There's a study that just came out. And this is an article from Wired magazine that I have up on my website at Craig peterson.com. Android is not Android is not Android. Every manufacturer has a different version of Android. Now, some of the core modules are the same, but they have to add their device drivers. They typically add bloatware is what we call it to the phones, and of course bloatware, you also see in Windows computers a lot. And those are those ads that come up that lets you get all of these premium features. All you have to do is pay us extra. They're out there doing all of this. And so my warning has always been, if you are considering buying an Android phone, remember that it might only be good for six months. I'm not talking about the hardware; some of the equipment is great. When I say some of the phones only be suitable for six months. It's because the security patches that are going to be needed for your phone will no longer be available. And my accountant came by last week and he just bought a new Android phone I told him don't buy another Android get an apple get an iPhone. If you can't afford a new iPhone by you don't even have to buy us To buy a model or two older iPhone, you will be much much happier and you will be much, much safer. But he got another Android phone. Why did he ask me about or why did he bring up because he knows I'm not an Android fan, right? So. So when we're sitting down, he's, he's not going to be sitting there pulling his phone today, Greg, that's great. No android phone I have because he knows I'm going to be all right. And in this case, it was I bought this phone now a couple of months ago, and I can't get updates for it anymore. Two months, two months, he had that phone, and he couldn't get updates for his Android phone. So it's not even six months in some cases is a lot less than other cases it's longer. If you're going to make the mistake of buying an Android phone, make sure it is the number one model in volume in sales. That manufacturer right now is Samsung. And the goal with that, but here's this story. And I've got some stuff I wrote up about it. Every android phone is unique. Because the manufacturers can freely create applications, they've got to make changes to the device drivers, the interfaces, the carriers, which then upload their information into the cellular tables that are in it. They might have a different transmitter than was planned for they go for the cheapest, cheapest. And so they've got to rewrite that low part of the operating system completely. You're getting that right now. Well, here's what we have just found. Every Android has pre-installed as of today. Now, remember, I'm saying that some of these phones you can't get security updates after six months and only two months in some cases. Maybe it's a year. But there's a study out right now, that is saying that on average when you buy an Android phone, there are 146 vulnerabilities pre-installed on your phone. So these are bugs in the software that Google has already fixed. Some of these were zero-day attacks. Many of them weren't. But on average, your new Android phone, according to this study, already has 146 security vulnerabilities before you even open the box. Right. Now, does that make sense to you? Now, if you buy an iPhone, you're going to find that the first thing that you're gonna want to do is you set it up, you put in, your Apple account or you create one they're absolutely free. Apple does not harass you about any of this stuff. They give you iCloud backup automatically. But you're going to set up your iPhone. One of the very first things that it does is it updates itself. Apple, just with the most recent release of its operating system going to look this up right now. Age of an iPhone six, they just recently stopped supporting their newest operating system that doesn't mean patches for security problems. But their newest operating system does not support the straight-six. It supports the six s but not the straight-six. So I'm looking right now in Wikipedia, and it was released there we go in on 24 14. So right now, while we're talking, it is more than five years old. It's been over five years since it was released. So Apple provided full support soup to nuts support for the software on iPhone sixes for more than five years. And that's very typical for Apple and the iPhones. So if you buy, you can still purchase the six ass I would not personally because it's not going to be fully supported. The next time we come up with another phone, so you know next year or maybe early in 2020. If you are considering buying an iPhone and you want to save some money, you can still buy a seven, or you can always buy an iPhone eight. You can even buy the 10. My mom, who is well into her 80s now, wanted to replace her phone. I think she had an iPhone four and she just last week returned it. I said they go out and buy because she was confused. I said, go out and buy the iPhone XR. That iPhone 10 XR, which she did. It is a great deal. It is a fantastic phone. And it's going to last year another five years with full software support from Apple. So keep that in mind. You can open that brand new box with your Android phone with 146 security bugs in it before you even open it up, and it's not going to update itself to the latest patches. None of that's going to happen. Depending on the phone in the manufacturer. But get an iPhone right forget all of this stuff about Android. I do not sell iPhones I to make money off of iPhones. I do not work for Apple. Okay. My company, however, is a certified Apple authorized Support Center Hello, everybody, Craig Peterson, here on WGAN live online, you can find me at Craig peterson.com. I often have some of these free pop up pieces of training and I've been doing Facebook Lives lately and just trying to get the word out, helping people understand what is happening in technology today. And we're on show number 1037. Now, the way I number shows is that's actually week number 1037. We should have done some big deal when we hit show 1000 but I, I didn't I probably should have But anyhow, so that's 1037 weeks of being on the air every week, which is pretty amazing when you get down to it and it's thanks for You guys, I so appreciate what you guys do by listening and supporting the stations I'm on and of course listening to the podcast and and the easiest way, by the way if you are an avid listener, if you will, is to go to Craig Peterson comm slash iTunes. And if you wouldn't mind, give me a five-star review and, and let me know what you think of the show right there. And I do read those and a quick shout out to people on the air frequently. I do. Now, you know, I mentioned a little bit earlier than I do a lot of computer security. And it's a huge deal, and it's very, very difficult. I also mentioned these break-fix shops. Those are businesses that do computer support, but basically, you call them when there's a problem as opposed to them being proactive and taking care of issues for you. Which is what my company and I do alright, so there you go. That's what I do. Well, let's get into this whole MSP thing. I am an MSP RIR, and MSP managed security services provider. And I want to roll the clock back because I have something here that I remember pretty well. And then I want to talk about it because I have a cup of coffee in front of me. And it's sitting on a napkin. And so I want to tell you a little bit of background. And this has to do with experience, really, and knowledge if you're old enough to remember the whole y2k thing. And the biggest problem with y2k was, hey, and we've been writing software for years that rely on next year, being One year more than this year. Back then, we had to be very careful with all of our data and how much storage we were using. Instead of storing the year as we do now as 1975, we would save the year as just 75. Hey, it's not going to matter for another, what, 35 years. Y2k is going to cause the world to come to an end because nothing's going to work. That is, it had only been 50 years that this code. And we all know that there was a whole industry that developed to help companies make sure they are y2k compliant. Some people wrote software that reviewed other software to make sure that these mistakes weren't in it. And then y2k came and went with very, very few incidents. Now, the reason people were worried about was legitimate. If you had an older GPS this year, say one that was more than five years old, maybe ten years old, you might have noticed that it stopped working? Did you see that? And the reason these things stopped working was the same problem everybody was worried about and y2k while almost the same problem. And that is counters rolled over from the GPS satellites. If you didn't have a big enough counter on your GPS receiver, you were in big trouble. The satellites themselves were fine. It was your little GPS receiver that's built into your navigation system, right. Huge deal. You had to buy a new one. Well, it's a much bigger deal for the bank, but thinking what else was happening around the year 2000. I started building commercial internet properties as soon as it became legal because I'd been on the internet since the early 1980s. I've been designing and helping to design and implement internet solutions since the early 1980s. And I've been doing network work, and computer network works professionally since 1975. I've been doing security work, managed security for my clients since the early 1990s. There was a lot of work done out there. I go back now and think about the late 1990s. My coffee mug is sitting here on a napkin. And you know, you go to a coffee shop, the napkins are three by three inches square, give or take. And if you are getting a muffin, you might get a napkin that you could unroll, and that's maybe what eight and a half by 11. Give or take, right? It's pretty big. Well, in the mid to late '90s, people were going to specific coffee shops. I remember this so well out in Silicon Valley in California. They went to these p coffee shops because it was where angels hung out. Angels are people who if you don't know, invest money in early-stage startups, in other words, when a company is first going, and so if I were today to talk to an angel and say, Hey, I need some money, the angel would say, Okay, well, let's look at the business plan. We go through all the financials, I better have some customers already some sort of a proof of concept, minimum viable product that I can show them and say, yeah, look at this is looking really good. So I need 1,000,005 million to take this to the next level. Well, back then, in the late 90s. They would sit and have coffee with one of these angel investors. And they'd say, hey, I've got an idea for a business and they pull out a napkin. And they take a, pencil and they would sketch on the back of that napkin. What their idea why it's because it's going to be great. And the investors just based on that napkin, no product, no team, nothing but an idea. Based on that napkin, the investors were giving out five and $10 million checks to these people who, in my mind, were, were, fraudsters. You know, they convince themselves that they had the best idea in the world, and they were going to become the next billionaire. Maybe the first billionaire under 20 years old. A lot of these investors, Of course, we're a little older, and they didn't know how to deal with the internet. They didn't know much about it and very immature back in the late 90s. Although I'd already been on it for 30 years, well, you know, around it for 30 years and on for more than 20 then, so they were giving them crazy money just based on a napkin. So what does everybody do? Well, where's the money while the money is on the internet, and it's out in the Bay Area of San Francisco, San Jose. So I'm going to go out there. And some of these people, literally, I knew people that did this, they hopped on an airplane. They flew out to San Jose, with the intent of going to one of these coffee shops or about a half a dozen of them, that were known to be frequented by angel investors and venture capitalists. And it's kind of like somebody flying to LA Working Yeah, I'm an actor, and they're working in a coffee shop. And they're Bariza hoping to get spotted by that director to get their big break. A big problem. And because everybody saw that the internet was the place to be. Everybody hung up a shingle about the internet. So stick around. We're going to talk more about this. We're going to tie this into exactly what's happening today, to you to your business, when it comes to security. And so many of these firms that are out there right now trying to sell you stuff. So stick around. We'll be right back. You're listening to Craig Peterson, right here on WGAN and online pretty much everywhere and at Craig peterson.com stick around. We'll be right back. Hello, everybody, welcome back, Craig beater song here. Of course, we're on WGA. And we are online, Craig Peterson calm. And good news. I'm on pretty much every podcasting platform out there. And I've had more than 20 million podcast downloads since I started podcasting 15 years. The numbers are picking up. We just had got another 100,000 downloads recently. I'm pretty jazzed with that. It is all because of you guys. The more you are of you who subscribe to my podcast, the more it gets noticed, and the more people hear about it, and of course, then what that means is, we're able to help more people, and that's why I'm here. It is a labor of love. Alright, so let's get into the rest of the story from what I was talking about earlier, which is if you missed it, I talked a little bit about the history of the internet and internet investment. These companies that were spun up from a business plan that was nothing more than a rough sketch on the back of a napkin at a coffee shop. Okay. It's a big deal here. But we'll let's think about some of the biggest failures on the internet. And you've heard of some of these. You've probably heard of like pets.com let me just run through a few here. Ship raise 62 million dollars and failed. That's SHYPBP raised 149 million before they got wiped out. Juicer, all Yeah, that's a reasonably recent one 118.5 million pepper tap 51 million Sprague 56 million yak yak 73 million. And you can go online, look for some of these things. I found an article that had 323, startup failures, and post-mortems for all of them going back, just kind of way back. But, you know, back to 2014, which isn't the start of the internet, right. That's not the reach. The time we're talking. Okay. Timo meter, and this is a great one, by the way. Multiply $30 times one client times 24 months. Wow, we'll be rich. Okay. They got funding, right. Why didn't we get funding? Why didn't you get funding right with your great idea? So everybody started throwing their hat into the ring. They were going to these coffee shops out in Silicon Valley pitching and hopefully come with a good idea. Of course, the investors wanted to have a billion-dollar company. Hey, it's not so bad. I put, you know, 5 -10 million in and I'm able to take a billion dollars out with a big company that's got a 5 billion valuation right. Wow, we're all going to be rich. And of course, that is the extremely rare case. So let's fast forward to today. And talk a little bit about what's happening right now. I've got an article up on my website that we put together called "I am an MSP shingle and your business security." Think of that word shingle. We talked about all of these. I don't know what to call these people, because they were out trying to get money for their ideas and were quite convincing. They weren't thieves, necessarily, although some of them probably were. But they didn't know any better. They didn't know what they should have known. Today, of course, the internet's much more mature. It's still not fully mature. It's changing every day, the way things are sold and marketed and used, and everything on the internet is just constant change. But right now, what are we talked about on this show before when it comes to open jobs, we know that the economy pretty much has full employment. But for the past three years, I think ever started ever since I started running the webinars for the FBI info guard program, ever since I started running those. There's indeed been somewhere between one and a half and 3 million open cybersecurity jobs. So Let's get right down to the economics of all of this. And I, I was following some stuff, and I've been developing material carefully in the industry because this is kind of the industry that I'm in. And I found out something that I thought was just kind of a DA moment, right? That's when you hear something, and it's I should have thought of that. I don't know why I didn't think of that. Right. We all have those. And so I had this moment, which is, if you have been a break-fix shop of what you've been doing is you take a call from somebody, and you sell them a computer, or you g a call from somebody, and you go out, and you spend two hours with them and you charge them three or 400 bucks for that service call. First of all, I don't think that serves the customer very well because the customer is going to be worried about calling you and the poor person that's having the problem doesn't want the boss to get upset because they called you right? So that's not helping the business very much. And on the other side, if you're trying to sell hardware nowadays, you know, we'll sell someone at $3,000 $4,000. workstation for one of their employees to use not even a high end one. And our margin is like 50 bucks on it. Nowadays. It obviously depends on the manufacturer, but there's like no margin in that business anymore. So if you were faced with that, if you owned a company, that all they really did was they sold some computer hardware when there was a refresh. And you went out and you did some repairs and some telephone support. And what would you be thinking? Why are retailers closing on you're basically a retailer? That's the business you're in. You're competing against Amazon, you're competing against Dell online, you're competing against all these guys. So what I've noticed happening, and I've noticed it because my company is what's called a master managed security services provider. We're a master security services provider because we work with these smaller companies that don't have the security expertise, and they know it. Now there, there's a lot of people that don't know it. We just talked about all of these failures. Back in the boom days of the internet, hundreds of millions of dollars, billions just went down the drain. So some of these people think they know enough, but they don't. So they'll come to somebody like us, who is a master managed security services provider, and we'll be the people behind the scenes designing the networks and security infrastructure. They can meet the DFARS requirements or ITAR or HIPAA or PCI or some of them, many, many TLA's and FLA's out there, right. TLA is is a three-letter acronym, and an FLA is a four-letter acronym. So in business, we all have those. But that's what they'll do. Now, I got to tell you, the vast majority and I'm going to say 99% from my personal experience. And so I don't know what the real numbers are. I don't think anybody has the actual numbers for this. But, and I'm going to say 99% because I have never seen an exception to this rule. But 99% of these companies out there don't know enough to make the right decisions or to help the customer make the right decisions when it comes to security. Now, this presents a huge problem for everybody. Because we have all of these people who were PC repairs and Windows support people, these companies relied on Windows coming out with a new version from Microsoft. And it will work on your old hardware because you need more memory, you need more space on your desk, you need to have a faster computer to run Windows eight, right? And then Windows 10 comes out. And a lot of people what they've done over the years is they say, you know, my machine is old, it's slow. It's cluttered. I could probably reload windows and get my speed back. But I just assumed by new computer, and that's what these people relied on for literally a couple of decades here. You are in the crosshairs of hackers if you're a business and even if you're just a regular home user. Oh my gosh, the problems you guys all have because now the hackers have figured out that these companies that call themselves managed services providers, but don't have enough knowledge about security, to protect even themselves adequately. These so-called managed services providers have now become a significant target for the hackers, including nation-state, think about it for a second. If you've hired a managed soft or managed services company of some sort, you've given them access to all of your computers, and they probably have your passwords, right? They have all of this stuff. There is an attack going on right now against Connect wise and directly against Ms. Peas. They've scanned the internet to find anybody that mentions MSP on their website, and then they start attacking them. Cause they have the keys to the kingdom, your kingdom. So here's the advice to minimize your risk. We had two weeks ago an attack that hit an IT services firm Everest, which is a subsidiary of NTT, one of the largest MSP is in Spain. They had to shut everything down, cut network links, try and figure out what happened. And in this case, it was ransomware. But they're also going straight for the data. It's happening every day. Okay, this is one of the largest, so yeah, my gosh, Here's what you have to do. You have to treat your managed security services provider as an insider risk. Just like any employee, you have your own IT staff. They are a risk to your business. They have access to All of your intellectual property, your client lists your employee records, right? They have access to all of it. So treat them like an insider. Understand the risks, do not let them keep your passwords or other information. And what we do for our clients is we never keep them. We cannot tell you what your password is, and we have to reset it. And we use specialized software, that when we access one of our client's computers, it keeps track of the right passwords and those are changed frequently and can be changed. Every time a technician connects, it is a huge deal, there you go. Some people are hanging out their shingle, saying I'm an MSP. Be very careful if you treat them like an insider, and mitigate your risks. All right, when we come back, by the way, in the next hour, we're going to be talking about online shopping. You're listening to print Peterson on WGAN. Hey, hello everybody, Craig Peterson here on WGAN online at Craig peterson.com. I appreciate everybody being with us today. We went through a bunch of stuff in the last hour. And we talked about, you know, MSP insider threats a little bit. I want to finish up the whole thing about insider threats. People have been asking if they should treat any managed services provider, break-fix shop, or any third party who is taking care of our computer equipment as an insider with a potential insider threat. So how do we treat insiders and this whole insider threat thing? Well, I should do a training on this up pop-up training. The veryfirst thing you have to do is figure out what is your most valuable asset in your business. Now, for most of us, it's our intellectual property. Frankly, those are our plans, our designs, our engineering diagrams, and it's our money, you know, bank account information, employee information, anything that could cause you to fail an audit. If you get audited, do you have all of the records? But if you are in a business that requires that you have security, what's going to happen when they come in and audit, okay, so any of that sort of data is information that you should protect. That means a lot of different things. I've taught some courses on this before, but it includes things like segmenting your networks so that people who don't need to get it at data can't get the data. In this day and age, for the truly paranoid, we see this more and more, it's called a zero-trust network. So people or machines can only get at things that you explicitly allow. So it isn't as though anyone in accounting can get to this, it's this person in the accounting can get to this. So all of your data is segmented. And again, don't let them keep your passwords. Try and do some of the administration stuff yourself, at least on the password side. Change the password and save it in an encrypted password manager to keep track of those passwords. Then when you have to call your managed services provider or your break-fix shop or, or your niece, whoever it is, who's taking care of your computers, you give them the password for that machine. They can get on and can do their thing. They get everything working, you watch them as they're working, which is another thing that we do. We're only on the machine when there's someone else watching, remotely. And we record all those sessions. By the way, anytime any one of our techs gets onto any machine, we have someone watching them. That is important. When the tech completes their work change the password. The whole idea here is that they don't need to have them. And as I mentioned before, we've seen a growing number of managed services providers from around the world being targeted and compromised by hackers, including the large ones. That goes to show again, and even the big guys aren't as concerned about security. Or maybe they don't know enough about security as they should be. I was out at a prospect's place just a couple of days ago. We're talking with them about their managed services provider that they had. I mentioned earlier, this 99% number, and this is my number. But I say 99% because I have yet to find a single managed services provider that is doing security reasonably well. I have yet to find one. And that's kind of bad news, frankly, when you get right down to it. And so that's why I say 99%, right, I give the 1%. Now, I know there are Managed Security Services Providers that know how to do it, but this is a challenging world. Bottom line, is if you can find someone that you trust 100% implicitly, they are not keeping your password, not getting into machines, without permission, then you have to trust them as an insider, basically, an employee that you kind of trust, but you don't absolutely imagine and make sure obviously, you keep those employees in line too. We're going to be coming up here in just very soon, actually another segment or two, with what you need to worry about for your holiday shopping. I want to start this whole thing off by talking about what you should be doing and how to verify a site and whether it's legitimate because it turns out there are three times more fake shopping sites than there are real ones out there. So be very, very careful of that. Now, before we get into that, let's do about these bogus hiring scams, it confuses me because when you get down to it, we have such high employment rates right now. It makes you wonder why the bogus ones are having such success out there. I don't know. Maybe people are just trying to look for a raise because there are so many great job opportunities. I don't know. Okay, employment is at an all-time high. With the economy buzzing like this, finding workers for seasonal part-time work is getting harder and harder. Think about what Black Friday means. Black Friday is when retailers finally become profitable or "in the black" as far as books go. It's not quite as true as it used to be. It used to be that most of the year retailers operated in the negative and it took until right around Thanksgiving before things turned around, because that's when people start shopping for the holidays. So these employers are now having to compete with the spam employment opportunities on top of it all. And the whole online application process is just fraught with opportunities for fishers to glean all the information they could need to impersonate you. So you've got to be very careful, and one of the things you can do, and this is the same thing if you're looking to purchase online, is verify that you did not end up on a scam site. So bottom line, if you're looking for a job, and most people are going to start their job search on Google, which is an okay place to start, and they might top in or type in seasonal opportunities. Just yesterday, I was sitting with my wife, and she did a download to the latest version of Microsoft PowerPoint. We subscribe to Office for all of our employees, including my wife, as she helps out with the business. Anyway, she did a Google search, and instead of "office," she typed "orifice," and you know slip up, and you know how it is when you kind of automatic type sometimes. She typed for Microsoft for this download, and we got results that were all scam websites. It was all set up to make you think that you were on the Microsoft Office website and that you were downloading legitimate Microsoft Office software. I was sitting right next to her. I suspect many of you might have clicked on some of that stuff, you never know what's going to happen? Because again, she was automatic typing, she didn't notice she had mistyped it. And she might not have seen these sites weren't a legitimate site. So you have to keep an eye on that. If you're looking for part-time jobs and they come up in the Google results, you might try typing in the website directly. So let's say you want to take a part-time job, but Walmart or Target or something, go to the Target.com website and make sure it's legit. How do you make sure it's legit? Well, we're going to talk about that a little later in this hour. We're going to talk about verifying the shopping sites, but if you go to their website, and if there are multiple pages on the website that all look legit like there's a real shopping cart, there's real stuff online, there's real privacy, disclaimers, etc. That's probably a real target site, and it's not a scam site. And then you can go ahead and fill out the Hiring information. I would be cautious about putting in things that are a little too personal. You want to give them your background and a way to contact you. But be careful with things like your social security number or bank account numbers. Many employers nowadays are asking for your social media account information. So it's one thing to say while you can go to twitter.com slash Craig Peterson and you'll see my Twitter feed. It's quite another to give them access to your Twitter account, and some of them are asking for that. They want your Twitter account username and password and your Facebook username and password. Because many times we are sending stuff using direct messages back channels, hidden channels that they're not going to see when they go to your public-facing Twitter page or Facebook page. And so Martin Employers are saying hey, listen, we want to have a good inside look at your social media account. So I would not give them any that sort of information. Remember if it is a scam, even if it's not a scam if they get hacked, which has happened before to target all of the TJ Maxx, guys, etc. that information could leak out. Alright, so I'll stick around when we come back we're going to talk about tackling ransomware and Windows. And we're going to also talk about a new payment system that's was announced and then we'll finish up with what you should be doing for the holidays. You're listening to Craig Peterson here on WGAN and online at Craig peterson.com. I am on pretty much every major podcast platform. Thanks for listening today. Stick around. I'll be right back. Hello, everybody, welcome back, Craig Peterson here listening to me on WGAN and online. Hey, if you enjoy the show, if you listen to podcasts at all, I encourage you to subscribe to your favorite podcast platform that helps get the show noticed and gets it out. And even better if you could share it with a friend and make sure you subscribe. I'd appreciate it. You know, we put a lot of work into these. I think we're giving great information. I get great feedback and emails. I had a couple over the last few weeks here actually two weeks that were saying that these were some of the best shows of mine they've ever heard. And I've done well over 1000 shows. So I think that's, that's an excellent thing, and I appreciate those types of messages that I get from you guys. So you can always email me, let me know what you think. What is it about Though the show that you liked, maybe you have some ideas or some topics that you want me to cover all of that stuff is just great and I would love to hear from you again. Me M-E at Craig peterson.com couldn't be much simpler than that could it. Let's get into this. We got a couple more quick security articles. Just general information here about Windows and Facebook, and then we're going to get into Black Friday scams, and of course it doesn't just go for Black Friday, this is throughout much of the holiday shopping season; actually, these all apply all year. Then we have these fake retailer sites I'll tell you about them how they're popping up and, and a little bit more about the signs. We covered that in that last segment a little bit when we were talking about the hiring scam, so stick with us today. We got a lot more to cover here before we're off the air, hard to believe two hours, can go by so fast. So let's start with windows here. Ransomware has been a problem for a long time. And for those that don't know, ransomware is where some software gets on your computer. There are a lot of mechanisms for nowadays, but it gets on your computer, it encrypts your files so that they become useless to you. And then it asks for money, the typical payment in Bitcoin, which is, by the way, attributed to be the number one reason Bitcoin Bitcoin has risen in price, and I can see that. There is a new study released. We've got more than 1 billion Windows operating system powered PCs in use in the world today. And that makes them a huge target for hackers. Now, just this morning, I was talking with one of our engineers, and I was saying how impressed I am with Microsoft recently. Since Balmer and Gates left, it has been a fantastic, amazing company. They've been able to maintain compatibility with older software right now for the most part while increasing their security, and they have turned a lump of coal into something that's, that's worthwhile, right? I still don't think it's anywhere near as good as something like Mac OS is on the apple side. But not everybody can run Mac OS, not everybody understands it. So major kudos to our friends over at Microsoft. It's amazing. But they are a big target, and they do have a large attack surface. In other words, there are a lot of things in Inside Microsoft Windows that can be and are currently under attack. You have to be kind of leery about some of these potentially unwanted applications that are on your machine. You might have heard me mentioned before some of the bloatware that gets installed by the computer sellers. And what they do is they load up all their programs. And they get paid. It's like five bucks. They'll get paid to load 50 different games, and you know, anti-spyware, software, and McAfee or Norton, all software that is practically useless to you. And then you have to spend hours removing that bloatware from your computer. But it's not just the bloatware that's out there. There are crypto coin miners installed on our computers, unbeknownst to us. There are all kinds of vulnerability exploits Trojans, and nowadays, ransomware and what's called file-less malware. Fileless malware is why 100% of the antivirus solutions that are out there today don't work anymore because it's a file, so it never hits the disk, so they don't have a chance to examine it. So having white label type of antivirus not white-labeled, but whitelist might be beneficial. But even in those cases, there's a lot for us consider. Now we're finding ransomware that's crypto locking, is growing, the number of attacks is growing. The number of successful computer accesses is growing. Now, to me, the most disappointing part of the numbers as I've looked through this in some detail, in this report that came out. The thing that disappoints me the most is much of the time. They are using exploits that have been around available for a couple of years or more. Many of these were patched by Microsoft, Adobe, and Oracle years ago. These are the ones that upset me the absolute most. We see now, the most significant year-on-year increase of any malware in the ransomware community, almost 75% increase since last year. So if you know someone that has had ransomware and I bet you you do somewhere in your circle of acquaintances, I don't think he would have to go out too deep right. I think it is about a 75% increase. According to Bit Defender, the number of ransomware reports dropped in the first half of the year due to one big hacking group called Grandacrab, who throttled down their efforts due to ramped-up law enforcement efforts. Now, ransomware is rising again, as these new ransomware groups are emerging to fill the void left by Grandacrab. I'm not going to go through the names of all of this different type of ransomware. These profit-motivated cybercriminals and they're just spending a little bit of time and a little bit of money because the to buy this ransomware. Some of this stuff is even licensed now. Where they have to, they download it for free. They can try it out on so many people, and then they have to go to a registration site and buy a license to use the ransomware. And then off it goes in that can be just 100 bucks. It's incredible. Here but they're also saying that they're seeing reports of miners and Phylis malware out there too. So coin miners, those are where you go to a website, then you know how the site says, Hey, can we send you news updates and you say allow or disallow yes or no on that you've seen those before, right? Those are not all illegitimate. Many of them are, most of them are legitimate. But that's how the coin miners are working. And so they will embed some code in a website, a legal site, and the coin miner will then start using your web browser to mine for various types of like Bitcoin type currencies that are out there. Okay. So we see a lot more in the ransomware style. We've got to be very, very careful. And about 40% of the population of the 1 billion people that use Windows about 40% admit the They have not applied security patches even though they're available. So make sure you ask them nowadays you don't have to go out and spend a lot of money to buy a license for Windows, you can pay monthly. And you don't have to worry about Windows upgrades anymore, because included. That's what we do with all of our customers; we include everything. Okay, we try and make it very, very easy for them. This article, as well as all of the other ones I've talked about today, and a few others we're not going to be able to get to today are all up on my website at Craig peterson.com. Please visit me there, you'll learn about the pop-up pieces of training. I have some of the Facebook Lives. The themes for the week and all of that stuff. You know, I'm not going to spam you with marketing messages. I'm just trying to get this out the truth out, Craig Peterson dot com. Hey, stick around. We'll be right back here listening on WGAN and online as well. Hello, everybody, welcome back, Craig Peterson here on WGAN and online at Craig Peterson calm and on your favorite podcasting app. And please do spend a minute and subscribe if you haven't already. Well, we talked about cryptocurrencies, many, many times, when they first started coming out for started rising to prominence. I had set up a little mining operation to figure it out, and I had my wallet and everything and, and it was a little too late in the game to find Bitcoin, like right off the bat. That's why I stopped because I was only interested in finding out more about the technology. So you have to use it if you want to understand it. That's kind of the bottom line on it. And I looked at it as kind of a gimmick, and of course, we now know that the cybercriminals online found Bitcoin To be phenomenal when it comes to being able to get paid in a more or less, kind of a quiet way, right? Where people are not aware of where the money's coming or going. Now, remember that Bitcoin is not anonymous. None of this data is genuinely anonymous, bottom line, but it is kind of, you know, private, more or less. So they use it for pain ransoms. I attended an excellent briefing by the Secret Service about how they tracked down some of the bad guys that are using Bitcoin. And it was frankly fascinating, and how they've been successful at that. So don't think that you're going to somehow because you're using a cryptocurrency going to be out of the reach of the hands of the law because you're not going to be okay criminals will get caught. But we had another end enterprise, and I don't like it. Some people would probably call them a criminal enterprise called Facebook out there. And you might remember Facebook decided they were going to come up with this whole new network, they're going to do Libra and it was going to be a cryptocurrency. Now, cryptocurrencies are getting to be a serious business. You have, for instance, the government of China active in developing a cryptocurrency. China frankly, wants to be able to have a currency that they control that they can peer into the becomes the International Monetary standard, instead of the U.S. dollar. So China has been working on this for about five years, and frankly, next year, I think you can expect that China is going to have a state back state-sponsored cryptocurrency that they're going to be pushing all over the world. They are going to try and get oil valued in their cryptocurrency. I think that's a bit of a problem for us here in the U.S. and will be a challenge for our economy too. But when we look at somebody like Facebook, where they're trying to set up this network, called the Libra network, I was thinking good thoughts about it. I know you are wondering, wait a minute, is this the Craig I've grown to know over the years What's going on here? I was kind of happy about it, as it possible for anyone anywhere in the world to have a financial transaction with you. For instance, I know some ladies who are in Africa, and they're impoverished women and trying to make ends meet and just have not been able to earn $100 a month. And many of these women are brilliant. Some of them are entrepreneurs, and they want to get a business going. And this particular group of women is now making themselves available after a friend of mine trained them here been in some technology, how to use computers and how to be a virtual assistant system. They are making themselves available as a virtual assistant. What could be more accessible for these women, and for the people who might want to hire them, than to make their transactions a cryptocurrency of some sort? A currency that they could use at their home that we could use at home. A currency that we could trust to a high degree. Remember, coins like if you have a U.S. dollar bill that you want to spend, the only reason it's worth anything, is because it's considered to be Legal Tender backed by the United States government. Now it isn't supported by silver anymore or gold anymore but deemed to be reasonable, legitimate currency. Initially, the Facebook Libra network announced they had a dozen or more of the foremost financial institutions in the United States. They would all work together and cooperate in developing this currency. Now, several reasons got squashed, not the least of which is governments and wanting to tax them and not being able to track some of the transactions easily. But I'm sure Facebook would have provided the governments with all the transaction information they wanted. Okay. So frankly, it would make it even easier for governments to track transactions than it is now. But the thing I loved about it was thinking about these women that my friend trained over in one of the poorest countries in Africa and how it would change their lives. I don't know if you've watched those some of this stuff here on micro-investments or watch how they're working. There's one organization called Shanta (https://www.shantafoundation.org) that quite impresses me. They're working in Myanmar. Interesting what they're doing, but when the basic idea with micro-investments is that somebody like you, were I, we might put $1,000 into this. And you've got someone in some countries somewhere that wants to buy a cow for the milk, and they're going to sell the milk, or they want to buy a goat or for the milk or whatever it might be micro to us. And so they're lent $100 to start a business. And they go out, and they get that business going, and they repay the loan, and that money is just put right back into another loan to another person that wants to do it. I've been following these micro-investments, and am very, very impressed with what many of these places are doing. And that led me to notice something else, which was the presence of phones, just regular cell phones that can send text messages, not smartphones. But the presence of phones and cell service coming into these tiny, tiny villages. And how most women were taking these phones. And we're using them to create businesses to support themselves and their families. Just absolutely amazing and many of these women, in fact, I think almost all of the ones my friends been teaching our single women, they've been either abandoned by their husbands Or the kids, Father, whatever you might want to call them. And they have to do all of the support. And so they're spending a whole month's wages, they're spending $100 to go through this program, this one-month long program that my friend runs. And so she's been looking for donations of laptops, just regular windows laptops, to help these women out as well. But these women get these cell phones and just with the cell phone now, there is some technology out there right now we don't use it in this country. Still, in several other developing countries that they can send money to people and receive money to people just using text messages. So just using their cell phones brought them out of extreme poverty. Now you know, we have poverty in the U.S., but poverty in the new in the U.S. looks like somebody that's upper class in these countries does. Okay. We don't know what poverty is. What we call poverty isn't, you know,' it's just astounding to me. So I got excited when I saw this whole idea behind the Libra network and what Facebook was doing with Calibra wallet. So we got to go for break, and we're going to come back I'm going to finish this up because there's something new and exciting that's happening in this space now. And then we're going to get into our Black Friday scams, and some more fake retailer sites. If you want more details, you're going to have to go to my website at Craig Peterson dot com. I'm not going to be able to cover it entirely in either the radio show today here on WGAN or my podcasts. You can find my Podcasts on pretty much every podcasting platform or my website, Craig Peterson dot com stick around, more to come Hey, Craig Peterson, back here on WGAN. I can't believe it's been two hours since we've been together today. Man does time fly. So going back because I want to finish up our last topic here about the microtransactions and about what our friends at Facebook had been doing trying to put a cryptocurrency in place. It completely fell apart about a month ago. Facebook is planning to start rolling out something called Facebook Pay on messenger and on Facebook itself. Today, it's going to be initially available for fundraisers person to person payments, event tickets, in-game purchases, and from some pages and some businesses that are on the Facebook marketplace. And they're planning on bringing this to more people and more places. They're going to be adding not just messenger, but adding Instagram and WhatsApp to this. So basically, what they're trying to do now is use this technology to make it possible for people to pay each other no matter where they are. Now, you already know because you're just listening, you already know that I think that's a unique idea. And that is going to lift people out of poverty. Just like capitalism has, it's the best system the world has ever invented, to lift people out of poverty. And if Facebook successful this, they will save lives as well. And of course, there's the other side, Facebook's going to make a ton of money on this. Because they're going to, obviously they'll have some form of transaction fees, and they'll be making some money over that. Okay, so we got more stuff we're not going to get to today because I want to get to the Black Friday scams and the retail stuff. There either is a new secret consumer score that you have never heard of before. And I am not, unfortunately, to get time to do much. With that, I say now it's been out there for probably the better part of a decade. I found some information about it from the New York Times back in 2012, and the Wall Street Journal back in 2018. There is a scoring system that's keeping track of us, and one with which you are probably not familiar. So that's up on my website, Craig peterson.com and 18 T's and green to pay $16 million to settle a legal dispute over smart throttling smartphone plans. So they came to that agreement with the Federal Trade Commission. Okay, so now into Black Friday scams. These are happening all the time. They are souped-up during Black Friday and Cyber Monday when there's a lot of people buying stuff online, and I'll let's get into it here. This shopping fever lasts for about four days right now. Some sites like Walmart start on Wednesday, and others are ready underway here. But let's go into some of these top scams. Man, we've only got about 10 minutes left here. So number one, this is a great article. It's from Heimdal Security dot com. I've got it up on my website at Craig Peterson dot com. If the website insistently asks you to download its application. Now, we already probably have apps from merchants. I've got Amazon, for instance, there are apps from Walmart Target, Ollie Express, Rakuten, Barnes and Noble, and the little guys are having a hard time competing there, but they try nonetheless. Now, a lot of these websites are going to talk you into downloading their mobile apps. And there's nothing wrong with that. But remember that not all of these retailers are legit, and not all of the legitimate retailers the apps are legitimate because it's rare that they would be developing the app themselves. So they probably had a third party do it. Who knows, right? So don't just willy nilly install apps from retailers are going online number two, the website looks fishy. And of course, this is pH fishy. And what that means is you might be on a cloned site. Right now, there are I was saying three earlier, but I was wrong. According to research from Venafi, they were looking at what is called TLS certificates. These are SSL certificates used basically if the website says HTTPS, then they're using TL. So they examine these. And they found that there are four times more fake retailer sites than the real one. Okay? So there are typos, squatting domains. I mentioned one of them earlier in the show today that my wife accidentally typed orifice instead of office when she's trying to go to Michael lot. Microsoft Office site, okay, so be very, very careful, careful. It's, it's a terrible thing here. They found 109,000 certificates on lookalike domains, compared with almost 20,000 on authentic retail sites. That sounds like a five to one to me. Unfortunately, these bad guys are also using Let's Encrypt, and I use Let's Encrypt for a lot of my websites. I do it because it's just cheaper and more accessible than paying the extra money for one of these verified certificates. So keep an eye out for that too. Just remember, just because it's a Let's Encrypt certificate does not mean that it's not legitimate, I might suggest that they are cheap bastards like me, okay. Number three unrealistically low bargains. I've seen this many times. We were looking to replace my f 150. And so we went online. We did some searching we found a fantastic deal on a diesel truck that Ford made about ten years ago with an engine that I'

In Episode 102 of Hidden Forces, Demetri Kofinas speaks with economist and former Deputy Governor of the Bank of Canada, William White, about the state of our market economy and the prospects for an ‘international reset’ of the global financial system. William R. White was most recently chairman of the Economic and Development Review Committee at the Organization for Economic Co-operation and Development (OECD) from 2009 to 2018. He is famous for having flagged the wild behavior in debt markets before the Great Financial Crisis of 2008. He began his career in 1969 as an economist working at the Bank of England. In 1972 he joined the Bank of Canada where he spent 22 years and was appointed Deputy Governor in September 1988. In 1994, he joined the Bank for International Settlements (BIS) and served as its Economic Adviser and Head of the Monetary and Economic Department from May 1995 to June 2008.  In their conversation, Demetri and Dr. White discuss a wide range of topics focused primarily on the global financial system. Their conversation begins with a focus on the state of the current system, including a discussion about the consequences of regulatory reform (both intended and unintended), as well as endogenous transformation to the system brought about by independent changes in the behavior of banks and other financial participants. Most of the conversation dealing with possible changes to the International Monetary and Financial System happen during the Episode Overtime, including a discussion about central bank-issued cryptocurrencies, private sector digital money like Libra, and Bitcoin. The overtime also includes a lengthy discussion about government policy in the face of climate change, and how this relates to the politics of monetary policy. William White has spent five decades as a central banker and international financial policymaker, and we are fortunate beneficiaries of the wisdom that he has accrued during these many years.  Additional topics discussed during the episode include post-crisis reform, market architecture, currency wars, negative interest rates, the Chinese renminbi, causes for inflation, Japanification, the ‘Global Ring of Fire,’ and much more. You can access the rundown to this week’s episode, along with a transcript of Demetri and Dr. White’s conversation through the Hidden Forces Patreon Page. All subscribers are granted access to our overtime feed, which can be easily be added to your favorite podcast application. Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Subscribe & Support the Podcast at http://patreon.com/hiddenforces Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod

Something like Libra as a world reserve? Something like a Synthetic Hegemonic Currency (SHC)? What? Mark Carney, head of the Bank of England, recently gave a speech at a world meeting among central banks, economists etc. He spoke about the current issues with the US dollar being the default world reserve, and the negative impact on the rest of the world, particularly Emerging Market Economies (EME). The Growing Challenges for Monetary Policy in the current International Monetary and Financial System - speech by Mark Carney, Governor of the Bank of England https://www.bankofengland.co.uk/speech/2019/mark-carney-speech-at-jackson-hole-economic-symposium-wyoming https://www.kansascityfed.org/publications/research/escp/jackson-hole - - - Credits: Music is either Aviators - Infinity Awaits Us (Space Fantasy BGM | Royalty Free Album) https://www.youtube.com/watch?v=sisGSwT2eN0 Music by: Sirius Beat - The Cosmos Link: http://youtu.be/Bkg08NvtvBU Background video is either images from the Hubble telescope or Video from the Amazing Space YouTube channel: https://www.youtube.com/watch?v=CyExswc5j7U Recorded by the SELENE Lunar Orbiter - images are copyright JAXA / NHK SELENE , better known in Japan by its nickname Kaguya, was the second Japanese lunar orbiter spacecraft following the Hiten probe] Produced by the Institute of Space and Astronautical Science (ISAS) and the National Space Development Agency (NASDA), the spacecraft was launched on September 14, 2007. After successfully orbiting the Moon for a year and eight months, the main orbiter was instructed to impact on the lunar surface near the crater Gill on June 10, 2009. - - - Tips are welcome! Particl: SPH1WAYtbWSLsXvnoNWoUTwRKDqkXEay9iHVcwfsj7pTvKwobBY4SgAcKJGoFXXRArV2Fvcnug6aBEbDjsXEvM19P86uV7oi5qbjzz Bitcoin: 1GXgFVuXFBcdYiw23EsRyLHRqBxnU2FKUj - - - Find me elsewhere: https://desi-rae.com http://justthinkingoutloud.tv/watch

In a stunning admission, one of the worlds top central bankers said the following to say about the dollar.   “Mark Carney, titled "The Growing Challenges for Monetary Policy in the current International Monetary and Financial System", where he dedicated no less than 23 pages to a stunning - for a central banker - cause: to describe why the dollar's  "destabilizing" reserve status role in the world economy has to end, and why central banks need to join together to create their own replacement reserve currency, one potentially tied to Facebook's new "stablecoin" Libra, although in reality any "Synthetic Hegemonic Currency" as Carney defined it would do.”"   the short term central bankers must deal with the situation as it is. But he also warned that “blithe acceptance of the status quo is misguided,” and dramatic steps will ultimately be needed. It's what he said next that was stunning: In the longer term, we need to change the game," Carney said. "When change comes, it shouldn't be to swap one currency hegemon for another."      Visit John Sneisen @: https://theeconomictruth.org/ Pickup Johns books available at: https://www.amazon.com/Canada-Greatest-Economy-World-yourself/dp/1988497051/ref=sr_1_2?keywords=john+sneisen&qid=1566882469&s=gateway&sr=8-2   Come See everyone at the:  https://winnipegcryptoconference.com/   Visit Tim Picciott @ www.thelibertyadvisor.com Get notified when Tim Goes Live on Dlive.tv and Flote.app: https://dlive.tv/thelibertyadvisor https://flote.app/Libertyadvisor   Subscribe on itunes / google play / stitcher / podbean / player.fm etc @ www.thelibertyadvisor.com/showlinks     Get a Free Copy of Tim's Ebook "How it's Rigged - The Economy" Text Libertyadvisor to 71441   

Diplomatic Brief: Kristalina Georgieva selected by EU for IMF top job and Putin ratifies a 'Comprehensive Strategic Partnership' with Egypt and more

Latest episode of UPSC Podcasts

José Antonio Ocampo (Banco de la República, Colombia & Columbia University) Inaugural SOAS Central Banking Lecture: Essential Reforms for a Sound 21st Century International Monetary System. The inaugural SOAS Central Banking Lecture will be delivered by Professor José Antonio Ocampo. The SOAS Central Banking Lectures have been established by the SOAS Department of Economics to provide a forum for distinguished scholars and practitioners to address topics of broad interest in the areas of central banking and international monetary and financial policy. The lecture will scrutinise the need for and the challenges of reforming the international monetary system. The 2007-09 global financial crisis, as the emerging market crises of the late twentieth century, show that the ad hoc international monetary system that evolved out of the crisis of the Bretton Woods arrangements in the early 1970s needs fundamental reforms. This lecture, based on José Antonio Ocampo’s recent book, Resetting the International Monetary (Non)System, will analyse the areas in need of fundamental reform: the global reserve system, macroeconomic policy cooperation, prevention and management of balance of payments crises, and governance of the system. Professor Ocampo’s lecture will be followed by comments by Stephany Griffith-Jones (Columbia University) and Ulrich Volz (SOAS). Spearker biography: José Antonio Ocampo is Member of the Board of Banco de la República, Colombia’s central bank, and Chair of the Committee for Development Policy of the United Nations Economic and Social Council (ECOSOC). He is also Professor (on leave) at the School of International and Public Affairs, co-President of the Initiative for Policy Dialogue and Member of the Committee on Global Thought at Columbia University. He has occupied numerous positions at the United Nations and his native Colombia, including UN Under-Secretary-General for Economic and Social Affairs, Executive Secretary of the UN Economic Commission for Latin America and the Caribbean (ECLAC), and Minister of Finance, Minister of Agriculture and Director of the National Planning Office of Colombia. He has received numerous academic distinctions, including the 2012 Jaume Vicens Vives award of the Spanish Association of Economic History for the best book on Spanish or Latin American economic history, the 2008 Leontief Prize for Advancing the Frontiers of Economic Thought and the 1988 Alejandro Angel Escobar National Science Award of Colombia. He has published extensively on macroeconomic theory and policy, international financial issues, economic and social development, international trade, and Colombian and Latin American economic history. Speakers: José Antonio Ocampo (Banco de la República, Colombia & Columbia University), Stephany Griffith-Jones (Columbia University) and Ulrich Volz (SOAS). Released by: SOAS Economics Podcasts

Opinion is divided for now about whether or not China's one-trillion dollar economic corridor project known as One Belt, One Road will be a plus for the countries it passes through, as Rosslyn Hyams reports. In the meantime, Sri Lanka which has been trying to recover economically, politically and socially from its drawn-out, three-decade-long civil war, owes China billions of dollars. The International Monetary fund chief Christine Lagarde has alerted China and countries potentially benefitting from the Chinese One Belt infrastructure development, to possible increased debt in the process. Spotlight on Asia considers why some countries may be more vulnerable to such unwanted possible side-effects of China's plan to harness the region's economic potential.

Business Day TV — On Africa Inc. this week we take a closer look at the news dominating headlines and moving markets across the continent this past week. Roy Mutooni from ABSA Asset Management gives us his take on some of the movement coming through on Africa's major bourses. The West African stock exchange, met with South African fund managers in Johannesburg as a part of its three city investor road-show. Business Day caught up with its CEO Edoh Kossi Amenounve. And the International Monetary fund has been wrapping up visits in the region - Celeste Fauconnier, Africa Analyst at Rand Merchant Bank unpacks some of the progress that's being made in implementing reforms like boosting tax revenues and what still needs to be put in place to either sustain or expand current GDP growth levels.

Reserve Bank Governor Lesetja Kganyago has been selected to Chair the International Monetary and Financial Committee of the IMF for the next three years. Kganyago will succeed Mexico's Reserve Bank Governor, Agustin Carstens, who resigned from the position last December. Sherwin Bryce-Pease reports...

Reserve Bank Governor, Lesetja Kganyago has been selected as Chairman of the Committee at the International Monetary and Financial Committee(IMFC). Tsepiso Makwetla our reporter In New York Sherwin Bryce-Pease...

After more than nine years of unconventional monetary policy, it’s time to question the Fed’s strategy and offer new ideas for the future of monetary policy. At Cato’s 35th Annual Monetary Conference, leading scholars, policymakers, and journalists will examine the case for a rules-based international monetary system, consider steps to normalize monetary policy, debate the future of currency, and explore China’s future in the global monetary system. See acast.com/privacy for privacy and opt-out information.

In the fast changing world where number of countries have increased by three times in past half a century, is there still a relevance for global institutions like World Trade Organization, World Bank and International Monetary fund etc? May be there is because now World Trade Organization has to regulate business among more countries and for International Monetary Fund and World Bank, they need to help and support processes for newly created economies finding their way to grow in an interlinked Global economy. The advent of IT, increased speed of business, and Global connectivity has made the business more complex. Can these institutions still function as they were supposed to do or their role needs to change?

Sauli Väinämö Niinistö, the 12th President of the Republic of Finland, was inaugurated on 1 March 2012. Sauli Niinistö was born in Salo on 24 August 1948 and graduated from the University of Turku with a Bachelor of Laws degree in 1974. He served as a rural police chief and as an assistant judge at the Turku Court of Appeal. He practiced law as an attorney and gained experience of corporate administration. He was elected to the Town Council of Salo in 1977 and continued to hold elected posts in local government until the 1990s. Sauli Niinistö was first elected to Parliament in 1987. In 1995, he was appointed Minister of Justice and Deputy Prime Minister in the Government of Prime Minister Paavo Lipponen. He was appointed Minister of Finance in 1996 when the aftermath of the 1990s recession was at its worst, and unemployment was at record high levels. Those difficulties were overcome, however, and Finland entered the new millennium with a robust economy. In 2003, Sauli Niinistö took up the post of Vice President of the European Investment Bank in Luxembourg. His purview included R&D funding and funding activities in the Nordic countries and Russia, and he was also chairman of the Northern Dimension Partnership Programme. He has also been a Member and Chairman of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) and a Member of the International Monetary and Financial Committee (IMFC). Sauli Niinistö returned to the Finnish Parliament in the 2007 election with the highest number of votes ever gained by a candidate. He was Speaker of Parliament from 2007 to 2011. President Niinistö is married to Jenni Haukio and has two adult sons from his previous marriage. President Niinistö is active in sports and was also Chairman of the Finnish Football Association from 2009 to 2012 and Chairman of the organizing committee for the 2009 European Figure Skating Championships. He has written two books.

Host Philip Coggan and guests discuss the economic futures of the UK and USA,both of which have had their prospects downgraded in the International Monetary Fund’s updated World Economic Outlook. Also: the recent compromise ending a so-called Bitcoin "civil war". See acast.com/privacy for privacy and opt-out information.

Host Philip Coggan and guests discuss the economic futures of the UK and USA,both of which have had their prospects downgraded in the International Monetary Fund’s updated World Economic Outlook. Also: the recent compromise ending a so-called Bitcoin "civil war". See acast.com/privacy for privacy and opt-out information.

20th Century American Economic History 7. The New Deal and the Post War International Monetary System Lecture by Murray N. Rothbard The World Economic Conference of 1933 in London met to deal with America's Great Depression, but, without consulting anyone, FDR declared that the U.S. would not agree to the proposal because he wanted to take the U.S. off the gold standard in order to inflate the dollar. The gold-supporting British and French were horrified; Nazi Germany was delighted. Hitler loved FDR's New Deal. Morgan men continued to hold power positions internationally, creating worldwide inflation. By 1945, Bretton Woods had established the rules for post-war international monetary management. On 15 August 1971, the U.S. brought this system to an end, rendering the dollar a fiat currency. 7 of 8 from Murray Rothbard's 20th Century American Economic History lecture series. Sourced from: https://mises.org/library/20th-century-american-economic-history We are not endorsed or affiliated with the above. https://creativecommons.org/licenses/by-nc-nd/3.0/legalcode Presented by: Read Rothbard and Actual Anarchy Read Rothbard is comprised of a small group of voluntaryists who are fans of Murray N. Rothbard. We curate content on the www.ReadRothbard.com site including books, lectures, articles, speeches, and we make a weekly podcast based on his free-market approach to economics. Our focus is on education and how advancement in technology improves the living standards of the average person. www.readrothbard.com The Actual Anarchy Podcast is all about Maximum Freedom. We look at movies and current events from a Rothbardian Anarchist perspective. If it's voluntary, we're cool with it. If it's not, then it violated the Non-Aggression Principle and Property Rights - the core tenants of Libertarian Theory - and hence - human freedom. www.actualanarchy.com Websites: http://www.ReadRothbard.com / http://www.ActualAnarchy.com iTunes: https://itunes.apple.com/us/podcast/the-read-rothbard-podcast/id1166745868 Google Play Music: https://play.google.com/music/m/Ii45fhytlsiwkw6cbgzbxi6ahmi?t=The_Read_Rothbard_Podcast Facebook: http://www.facebook.com/readrothbardclub Twitter: https://twitter.com/read_rothbard Flickr: https://www.flickr.com/gp/145447582@N05/xB4583 Patreon: https://www.patreon.com/ReadRothbard Murray Rothbard, Murray N Rothbard, Read Rothbard, Anarchy, Anarchism, Free-Market, Anarcho-Capitalism, News and Events, Podcast, Laissez-Faire, Voluntaryist, Voluntaryism, Non-Aggression Principle, NAP, Libertarian, Libertarianism, Economics, Austrian Economics,

Dr Claudio Borio (Bank for International Settlements) What is wrong with the International Monetary and Financial System? The speech will explore the Achilles heel of the international monetary and financial system, with specific reference to the role that the dominance of the US dollar may play. Based on that, it will then draw possible policy implications. Claudio Borio is the Head of Monetary and Economic Department at the Bank for International Settlements. Speaker(s): Dr Claudio Borio (BIS) Event Date: 24 February 2017 Released by: SOAS Economics Podcast

Claudio Borio is the director of the monetary and economic department at the Bank for International Settlements (BIS). He joins the show to discuss his career in monetary policy, banking, and macroprudential regulation. In particular, he and David discuss problems afflicting the Eurozone and how to address massive financial imbalances across the world. David’s Twitter: @DavidBeckworth Claudio’s bio and research: https://www.bis.org/author/claudio_borio.htm David’s blog: macromarketmusings.blogspot.com/ Related links: “Revisiting Three Intellectual Pillars of Monetary Policy” by Claudio Borio http://object.cato.org/sites/cato.org/files/serials/files/cato-journal/2016/5/cj-v36n2-1.pdf

Lars Christensen, an internationally renowned Danish economist and Senior Fellow at London’s Adam Smith Institute, discusses the poor monetary policy that has plagued the Eurozone. Christensen, the coiner of the term “market monetarism,” argues that Europe from the beginning was not an optimal region for its members to share a single currency and that the European Central Bank’s decisions have greatly worsened the Eurozone’s economic pain. This suffering, consequently, has led to the rise of extremist movements throughout the region. Lars and David also turn their conversation to the lesser-known “dollar bloc,” the group of countries that either use the U.S. dollar or peg their currencies to the dollar. David's blog: macromarketmusings.blogspot.com Lars Christensen’s blog: https://marketmonetarist.com David’s Twitter: https://twitter.com/DavidBeckworth Lars Christensen’s Twitter: https://twitter.com/MaMoMVPY

Recorded at Mises University 2011.

A lecture by Barry Eichengreen, Economics and Political Science, UC Berkeley

From Part V of A History of Money and Banking in the United States: The Colonial Era to World War II: "The New Deal and the International Monetary System". Narrated by Matthew Mezinskis.

Compares and contrasts the principles and performance of alternative international monetary systems, including the classical gold standard, the gold-exchange standard, fluctuating national fiat currencies, and a global fiat currency. Shows the superiority of a hard-money gold standard over the historical and proposed alternatives. Recorded at Mises University 2010.

The World Economic Conference of 1933 in London met to deal with America's Great Depression, but, without consulting anyone, FDR declared that the U.S. would not agree to the proposal because he wanted to take the U.S. off the gold standard in order to inflate the dollar. The gold-supporting British and French were horrified; Nazi Germany was delighted.Hitler loved FDR's New Deal. Morgan men continued to hold power positions internationally, creating worldwide inflation. By 1945, Bretton Woods had established the rules for post-war international monetary management. On 15 August 1971, the U.S. brought this system to an end, rendering the dollar a fiat currency.From Murray Rothbard's 20th Century American Economic History lecture series.

The role of the UN in addressing the crisis - Recommendations from the UN Commission of Experts Dr. José Antonio Ocampo, Director, Program in Economic and Political Development, School of International and Public Affairs, Columbia University and member of the Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System.

The International Monetary System (Thur 15 Oct) Slides / Audio

The International Monetary System (Thur 15 Oct) Slides / Audio

Recorded at Mises University 2009.

LMU CBA