What's up everybody? Jason from Jasper's casebricks.com, 2017-18 Panini impeccable basketball at a three box case break tiered random teams number two that sold out where you can chase Kobe, Tatum and much more in that 17-18 draft class. We did a couple mini breaks we needed to sell out, which we did them. It's a 15 total spots. We get two random teams tiered per spot. So we randomize all 50 consumer names, all 15 combo teams, and whatever you match up with is what you will get for the break. So from the Lakers, Charlotte Hornets, down to the Rockets, Spurs, and Matthew and Brandon were the only customers that bought them straight up. The rest were in Mosaic's cell on 19, 120, 121, and 122. So there you go. Good luck guys. Let's roll it and we get a four and a six ten times. One, two, three, four, six, seven, eight, nine, and a brand. So, eight, Cavaliers Pelicans, Maverick Sons. So Clark get the Cavaliers Pelicans, Matthew with the Hawks Wizards, Clark with the Lakers Hornets, Brandon with the Jazz Clippers, Sean with the Bucks T-Wills, as well as the Boston Celtics Nets. Robert, you have the Warriors Nuggets, Dan with the Kings Pistons, Sean with the Bulls Raptors, Bryce with the Orlando Magic Blazers, Brandy of the Rockets Spurs, Matthew with the Knicks Grizzlies, Mike with the Heat Thunder, Gabriel with the 76ers Pacers, and Brandon with the Maverick Sons. All right, Brandon's trying to show you a Clark. Don't know if Clark's watching, but give me like 30 seconds. All righty, man. Closing the trade window. There you go. Let me talk about iron. Halfway through my shift. All right, there you go. Full case, impeccable. All right, three box case rate, guys. We didn't put anything crazy monstrous out of the last case, so I'm hoping that this case is much better.  It's just like I'm already here, right? Might as well stay a little bit longer, right? If people want to break. Gets more breaks out of the way, and then, you know, we can start focusing on some new ones. Steph Curry, 20 out of 90 iron. Stainless stars. But that's no worries, man. You know, I have fun doing this at the end of the day. Golden State Warriors gonna rob it. All right, Terry on Prince. 35 out of 49. Tyson Chandler at 99. Phoenix Sons. Kyrie Irving. Always just forget for that split second for that like one year, right? He played with the Celtics. Celtics, going to Shawn. Thank you, Aaron. Robert as well, man. Alan Houston, autographed to 99. New York Knicks. Matthew with the Knicks. Caleb Swiningen. Little RPA to 99 for Portland. You got Portland. Cheryl Blazers. Goin' to Bryce. We got Detoniv. Strength for the songs to 99. That'll be going to the Oklahoma City Thunder. Going to Mike with the Heat Thunder combo. We got Bernard King. 18 out of 30. For the Knicks. Matthew with the Knicks Grizzlies combo. And we got number one overall pick, Mark House Volts. Little RPA. One out of 25. That would have been a very monstrous hit. Obviously, his career hasn't turned out to be what it should have been, but he still has plenty of time to turn it around. And I think he will with the Orlando Magic. So there you go. Little RPA. 76ers going to Gabriel. Kauai Leonard. 66 out of 99. San Antonio Spurs. Where's San Antonio at? Oh, there it is. Brandon with the Rocket Spurs combo. We got a 10. De'Andre Jordan for the Clippers. Los Angeles Clippers. Going to Brandon. Carly Newtowns to 99. And Wesley Matthews to 99. We got a redemption. And it's Courtney Lee. Elegance Veteran Jersey autographs. Card number 14. We'll take a look and see who that goes to. But on the checklist, we got RJ Armstrong. Or BJ Armstrong, sorry. 7 out of 99. For the Bolts. Sean with the Chicago Bulls. We got a patch autograph of Mike Conley. Memphis Grizzlies. That's going to Matthew. Got a little Robert Ori to 99. For the Spurs. Another one for the San Antonio Spurs. That's going to Brandon. And we got ourselves a little Lonzo Ball. Very nice. 24 out of 49 autograph. And that's a Ricky Otto. One of the Lakers and Clark.  That'd be nice. And we still have the metal part as well. Good luck everybody. Need the third pick. Need the third pick. TJ Warren to 49. I mean back in the day guys, I mean this would have been a great case. Honestly. Because I mean you got to get the number one and number two overall pick. Drew Holliday to 99. For the Pelicans. And Blake Griffin. But of course, Times of Change. Tatum is probably the number one overall pick now, right? If you redraft this. We got Sharif Rahim for the Grizzlies. Another one there for the Grizzlies and Matthew. We got Walt Fraser. That's number 47 out of 99. New York Knicks. Went to Matthew. There he goes. That's a little RPA to 99. Sacramento Kings. Going to Dan. We got for the Lakers, a little RPA of Josh Hart. He's got a couple of RPAs here. Another one there for the Lakers and Clark. And the last one is three RPAs in a row. Josh Jackson. Phoenix Sons. Let's go into Brandon. Last problem I'll draw. Well, at least there's a couple RPAs in this box. All right, let's see who's the medal card. I'll place a gold. But if not, a good veteran. Silver. It's Dwight Howard. 10 out of 16. Little one try on to find silver for the Charlotte Hornets. And that's going to go to Clark. Put that in a slider box for you, buddy. Appreciate it, guys. Let's quickly see who this Courtney Lee goes to. But again, not a bad case. You know, obviously no Tatum, Mitchell, but still had Lonzo and Foltz. Courtney Lee card number 14. That is New York Knicks. Appreciate it, guys. Coming up next is a team all China of optic basketball. Appreciate it.


This weekend, we're talking money and cryptocurrencies with our in-studio guest. Peter Sainange is a professor of economics at Fonja University in Taiwan, and he earned his PhD at George Mason University. He's also a former Mises Institute summer fellow, and he blogs and offers a free Austrian investing newsletter at his site, ProfitsOfChaos.com. Peter wrote a brief but interesting Mises Daily article last week dealing with the thorny question of regression theorem as it applies to cryptocurrencies. So we'll dive deeper and ask Peter some of the fundamental questions about money in this electronic age. What do Manger and Mises tell us about the origins of money? Where does money come from? How do we define it? What's the difference between money and a medium of exchange? And was Hayek right about degrees of money-ness? Stay tuned for a great Austrian discussion about the one thing everyone wants more of, money. Ladies and gentlemen, welcome once again to Mises Weekends. I'm your host, Jeff Deist, joined today in studio by our guest, Peter Sainange. Peter, how are you today? Thank you, Jeff. It's great to be here. Peter, you wrote a great little article for us last week entitled Cryptocurrencies and a Wider Regression Theorem. Now, I like this article because it seems to take a middle point between two extreme arguments. Which is that Bitcoin or cryptocurrencies fail to satisfy Mises regression theorem and therefore they simply can't be money under any scenario. Or the second extreme, Bitcoin and cryptocurrencies unquestionably are money and if they don't comport with regression theorem, then we ought to discard and throw away Mises regression theorem altogether. Yeah. Well, the approach that I sort of view Bitcoin is that it is a good like any other. So like any other good, it gives us certain benefits. And if it does those benefits well, then people will demand it. And the fact that it actually exists in the market, it's had value now for a couple of years. So that suggests in a way we know the answer to the puzzle from the beginning because we can see this thing living in the wild having a relatively stable value. It doesn't fluctuate between one penny and a million dollars. It's relatively stable. So we know that it is apparently a good with some durable demand. Or it must be offering some durable benefits and so then the trick is just to find what these are. So that's sort of the approach that I take to looking at something like Bitcoin is just take the sort of magic veil away and treat it just like any other good. Just like you would treat an iPad or a house or anything else. Peter, Manger of course famously provides us with an explanation of the origins of money as commodities. Should we be viewing cryptocurrencies as a form of commodity? It depends on what your definition of a commodity is. There are a number of different views so one sort of standard view of commodities is that it has to be something concrete that you can drop on your foot. So in that sense of course it is not. But again, if we look at it basically from a praxeological point of view then a commodity would be anything that offers some kind of benefit. It doesn't necessarily have to drop it on your foot. It doesn't have to be concrete. It doesn't necessarily have to be limited in value or scarce. There are many goods that are not scarce like air, the air we breathe and so on. Depending on your definition of commodity it would or it would not. But I think that praxeologically the key question is is Bitcoin a good? Meaning does it offer to some people in a better way than the other things like fiat money? Peter, your article discusses the antecedent value requirement for money under the regression theorem. Let me give you a quote from the theory of money and credit. Mises states, it follows that an object cannot be used as money unless at the moment when it's used as money begins it already possesses an objective exchange value based on some other use. Now taken literally does this require a non-monetary antecedent use for money? Right. And that's sort of what I aimed at in the article is that I think that you can read Mises in two different ways and he makes this distinction throughout human action. One question is what's the praxeological function that he's discussing? And then another sense is what is the history of some process? And the history and the praxeology often conflict. And I think that this is one of the cases where they do. So within human action when you read the surrounding text where he discussed the regression theorem it seems quite clear that he's saying that any true money must have been metal. He seems to clearly think that it must have been some commodity with a non-money value. So something pretty or whatever uses gold and silver for example head. And I think that the trick there is that you can look at that as kind of a failure of imagination. So in other words had Mises known about Bitcoin in 1912 then I imagine that he would have written that passage differently. What he was doing instead was looking back through whatever 5,000 years of human history he observed that the only durable commodities that have developed into free market money are metals. So I think that Mises there is mostly describing history. There had never been anything like Bitcoin before. It is 1912 so I don't fault him too much on failure of imagination. I couldn't imagine Bitcoin three years ago. Now we oftentimes hear the term medium of exchange. Can you talk about the difference between money and a medium of exchange? I think that medium of exchange I kind of like that term to start with because it describes what's happening here. So money fundamentally has two benefits which are enabling transactions and enabling savings. So medium of exchange I think captures what money is doing. Savings when you say that money is enabling savings really of course the only reason it's doing that is because it can be used to enable transactions. So the reason why you would want your savings to be held in one thing over another is because fundamentally at some point in the future you can transform those savings into some kind of exchange and does some purchase. So I think the functions of money sort of boil down to enabling transactions. And so I like sort of starting with medium of exchange because it describes praxeologically what money does. And then the next question the sort of broader term of money I think has a number of different definitions sort of carries a lot of baggage. I use the term of course because it's a common term but I think that it's less precise. So among the burdens that are placed on money are for example being either universally accepted or nearly universally accepted across a given geographic region being a common unit of account for example. So there's sort of extra burdens placed on money. And I think that the distinction is a little bit that between praxeology and history where to call something a money you start to import all of these historical traits of money. Where do we stop with that? So do we require that money has presidents faces on it? Things like that. So there's sort of historical descriptions of money. But I think that when we go back to the praxeological core that the true function of money the reason why it is a distinct phenomenon the reason why we would study it is because fundamentally the ax is a medium of exchange meaning that it enables transactions and as a derivative function of that enabling of transaction it's also used for savings. So those are kind of the two core values. And when we're discussing something like Bitcoin or cryptocurrencies in general because they have only existed for a couple of years if we're going to apply any sort of historical trait of money to them we're not going to get very far. We're starting with our conclusion if we start saying that anything that's going to be a true money has to resemble historical money in some way or another. So I don't think we get very far with that. We may as well just cut out the middleman and say okay fine Bitcoin doesn't look like traditional money and we're done. So I think it's much more fruitful right if we're going to ask whether Bitcoin is a future it's much more fruitful to start with the praxeological definition in which case I like using medium of exchange I think it makes it really clear what money is doing. How does this process occur? How does the transformation from a medium of exchange to outright money occur? Is this simply an empirical question? A couple of moving parts in that process one of them is that there are gains to scale right so there's sort of a network effect. So once some things is used as money in a particular area then because it's their lower transaction costs on using it the winners keep on winning. So you've got a network effect where there's a tendency for one single money to dominate in a geographical area it doesn't have to be a country right it can be a region or such. And then the other I think moving part in that transformation from you know medium of exchange to sort of money with a capital M sort of a dominant form of money I think the other moving part there is that governments often try to get involved in this they try to privilege or burden different media of exchange typically of course the media of exchange that they most try to privilege is the pieces of paper that either they print or that their friends print on licenses right also known as fiat currency. I think that when we look at the transformation from medium of exchange to money those two right the network effects and the government burdens to me anyway are the most interesting. So in the denationalization of money Hayek talks about in effect degrees of moneyness by which he mostly means degrees of liquidity. So is he right? Are there degrees of moneyness or is money binary something either is or is not money. Rothbard talks about that as well of course much later in man economy and state chapter 11 where he talks about quasi money right so you know he's specifically interested in things that pick up a lot of moneyness right in the Hayek sense but the idea is that any particular good is going to have a certain amount of demand based on what the good does for you. So you know if it's a pack of cigarettes in a prison then you know cigarettes have a certain value for certain people but then once they pick up this exchange function then you get this additional layer of demand that stacks on top of that and so that's going to tend to increase the price right. But what's interesting there in Hayek's conception is that what it implies is that essentially everything in the world has some degree of exchange related demand right so we were talking yesterday Jeff about Lamborghinis use Lamborghinis right so a used Lamborghini mostly has value for what it does for you right you can transport the groceries you can impress your friends but there's a certain amount of probably a very slight amount of value that's piled on top of that which is that in a pinch right you can trade that Lamborghini for money. Now if there were draconian laws against selling Lamborghinis so that you could only keep that Lamborghini for yourself and you could never use it as a unit of exchange well then it would lose some value right probably not that much but it would lose some value. Now of course on the flip side if you were to take say you know US dollars the vast majority of their value of course comes from their exchange use they have very few purposes beyond that although people in Weimar Germany did use them as wallpaper apparently right currency is fairly durable for that so right so on the other hand if you were unable to exchange dollars then they would lose almost all their value right so you can sort of mentally imagine if it were illegal to exchange some particular good how much would its value drop by and that's going to give you a rough estimate of how much of its original values coming out of exchange as opposed to use. Peter shifting gears slightly here let's imagine a scenario where tomorrow Ron Paul's famous competing currencies bill passes both houses of congress and it's signed by the president and the next day Americans are allowed to use whatever mediums of exchange or money they care to use within the confines of these 50 United States. What would that look like over the coming days the coming months the coming years what would competition and currencies look like. Short term I don't think that there would be that much of an impact and the main reason is that in the grand scheme of central bankers ours are not particularly bad central bankers of course all evil but the problem is that the main competition to the US dollar today is the Canadian dollar the euro the Japanese yen right these are in practice the main competition and those central banks are really not much better than ours exchange rates have been fairly stable so my guess is that what will happen over time is that demand for US dollars in order you know to use them to buy things right that would decline some of that would be picked up by foreign currencies so for example in you know southern California or main prices might start showing up more in Mexican pesos and such I suspect that that wouldn't happen a whole lot the main function would be that it would be a little bit more of a control on our own central bank so it would sort of be a threat hanging over their head that look if you guys do behave more irresponsibly than the neighbors then at that point you can start getting a snowballing effect where demand could bleed away for the US dollar so just sort of the paint out a specific scenario if the Canadian central bank was relatively conservative in the US central bank started going wild in that scenario if you were permitted to use Canadian dollars for transactions then you would expect a large amount of demand to bleed off the Canadian dollars this is what happens in a lot of countries today right if they have relatively incompetent or uninvolved police then you know countries will start transacting in foreign currencies in Mexico or Argentina places like this people use US dollars for a large amount of their transactions these are typically it's typically illegal to do this but the countries don't really do anything about it of course historically Mises talked quite a bit about gold and silver Austrians have generally favored hard currencies precious metal backed currencies in a free currency environment do you think Westerners would today use gold and silver for exchange and payments frankly imagine that some enthusiasts would do it just like some people like to be paid in Bitcoin today but frankly again because the value of the US dollar is relatively stable we all know a lot about money and where we're kind of interested in it we you know pay attention to the economic effects and such for the average person walking down the street a dollar is good enough right you know if it's losing two three percent of its value once you include productivity gains is probably actually losing about six or eight percent of its value a year but for most people they don't really care you know you know for transaction demand which is what you keep in your wallet it wouldn't even matter for us right I mean we all you know carry some Federal Reserve notes as well even for savings demand two three percent nominal inflation in other words erosion of the money just doesn't seem to bother people that much so I don't think in the short term it would change a whole lot again it would mostly come into play if the Fed got significantly more irresponsible but having said that even today of course right we were talking at the top of the program that the government can't repeal the market so even today I mean there are a significant number of people who carry Canadian dollars or you can carry foreign currency it's relatively easy to smuggle there are people who transact in gold and silver there are people who hold their savings in gold and silver right so even with the various tax burdens or various use burdens for example that the government puts on competing media still there is a very healthy gray market you know for both metals and for foreign currency and to the degree that the Federal Reserve got more irresponsible even if the laws weren't changed we would expect that market to grow tremendously in closing Peter thank you so much for joining us today in studio and thank you for an interesting interview ladies gentlemen if you'd like to follow Peter find him at his site profitsofchaos.com that's profits like profits and losses profitsofchaos.com once again thanks for joining us and have a great weekend


Welcome to NewsClick. We have with us Kalathur Mani, president of DVK of Tamil Nadu. This movement has been leading anti-caste struggles and movement for rational thinking and scientific temper in the Tamil society. Welcome to NewsClick, sir. Across the country, especially in Maharashtra and Karnataka, we have seen the death of rational thinkers like Narendra Dabholkar, Kalburgi, Govind Pansare. And now we have seen the death of one of the activists of atheist movements in Tamil Nadu, H. Farook. Can you please throw some light on what has really happened in Tamil Nadu? I find a little difference between those three and this Farook. The three people were killed by the Hindutva forces. They have some politics behind them. But here, the Farook was killed by the Muslim fundamentalists. They have no politics behind them. That is, they are only fanatics of religious fanatics. New Wahhabism is coming here at today's establishment. There are some movements which are teaching about the Wahhabism ideologies here. These people, there are very few monobots in this Tamil Nadu. But the entire Muslim communities against them, they are accepting. But the murder was done by those Wahhabist people. That context, even Farook's father has come out saying that if his son was killed for his beliefs, even I also am an atheist. Do you think that's a progressive step and a direction for the Muslim community in Tamil Nadu? No, it's an emotional step, I think. There are a lot of Muslim communities in our movement. There are auditors, there are district presidents of our party from Muslim communities. It's the first time a person of Periyar's movement or a racialist is being targeted by the Muslim community. There are some clashes between the Hindutva forces and ourselves. But it's the first attack on a racialist in Tamil Nadu by Muslim fundamentalists. Sir, in that context, can you throw some light on how in Tamil Nadu the rationality movement and the atheist movement played a role in educating the society against superstition and religious beliefs that are actually enslaving the people? That is usually a racialist movement is here. Even in the 19th century itself, there was a Noguik Sangh was there. They were having two Periyadikas, one in Tamil, one in English, free-finger and another Periyadikal in Tamil in 1872 itself. But only after the Periyar's movement started in 1925, the Sunfrist movement was launched by Periyar in 1925. After 1925, it has, the entire Tamil community have somehow or other, they have absorbed the rational thinking. In Tamil Nadu, you can see a meeting or a meeting will be going on. On the other side, a procession of Noguik or some deity will be going. We will just stop the meeting and they will pass on and we will talk. Or some ways, they will be going. We will be speaking about racial ideas and even in about Ramayana and all. You see, Vinayaka idol was broken and Rama's portrait burned in Tamil Nadu. Nothing was no emotional attack on us from Hindu forces. Only police have our status. Police have filed case against it for having burnt or broken the idols. It is not in the temple. The idol was done by us. It will be broken in the villages. It is just a demonstration. More or less, the Tamil community have taken it so easily that they will pass on. Only nowadays, after this BJP has come to power, or a little earlier, some after Kanshava, my mass conversion was done in Vinayakshapuram in 1980. They have the people from the shadow castes have converted to Islam. Only after that, the Hindu forces started to make their moments in this area. But now, only after, for the past five or six years, they are coming up with the processions and all. The Jallilitha was with them. So to say, she was with them. She was Tamil Nadu's Bharati Jallilitha. Yeah. Now, what are the challenges in the current context before the rational movement and anti-caste movement in Tamil Nadu? Yes. The DMK was a sprinter 40 from Rao De Grave. They have started their political party. They have contested the election only in 1957. Though the split was in 1949 itself, they contested the election only in 1957. Up to the entry into electoral politics, they were talking about rational things and so on. In their meeting, they will be discussing some things. In 1967, they came to power. After coming to the power and after the demise of Siananna Adurai, Anna, the president of the party, after the Kalanjars regime, this Kalanjars-Karanjars regime, little by little, they have shared all these policies. The senior people are with the rational thinking, but they won't come out and talk in public about this. They will tell, I am an atheist to themselves. You see, now Stalin is the now working president of the party. Stalin is not a rationalist. Only Kalanjars himself was a rationalist, not even. But in the villages, in the remote villages, the people from DMK party are having rational ideas, ideologies. They are with us in our agitations, in our meetings. In all this, the people will be, the members will be taking part, but the command is not having so much of interest in rational ideas. How as being the president of DVK, what are the programs you have for the people so that you bring them closer to rational thinking and scientific temper? Before, we are used to propaganda towards, we will arrange. There will be three or four groups, Kavitha, Singh Air, not drama somehow, street dramas will be played, and there will be a speaker to talk about things. We will distribute families. The three, before six months, before six months, we were having the campaigns against Kastu. Now only last month, we had a program for seven days in five groups. I have been traveling this for two times. The title was that, Nambunga Riviyalai Nambadhinga Samyar. It means, believe in science, not the Samyars. It was the title and the entire tour was only promoting rationalism only. How was the response of the people for this program? See, there will be no person to agitate against this propaganda. Only the Hindutva forces, they used to tell something with the people, they are coming, they will be against our gods, they may break our gods and all. They will try to organize a group, but it never helped anywhere. They can't stop us in any place, but there are some clicks there. The police will come and ask us to go to another place, not in our team, in another group resource in Kanjiburam. There are some in two or three places. The police have asked us not to do propaganda at that area, for there are some chances of breaking. So, from the intellectuals, how has been the response towards this movement? Are they talking about it in the public sphere or there is still not much in the discussions across the state? Yes, before two or three years, we were frustrated with the students of this Tamil Nadu. They never cared about these things, about anti-caste propaganda or rationalist propaganda. They will not take any care about this, but for the past, I don't know how, whether after the regime or the turning of Modi or so, that if students are interested in taking part in our discussions, in Facebook discussions and all, there are write-ups in even magazines, like some weekly magazines, there will be some write-ups about the rationalism and all. Now, I find that student communities turning their eyes towards this anti-caste and racial ideas. Now that the challenge is very severe from the right-wing forces in the country, and even in Tamil Nadu, you can see the right-wing forces making their entry into Tamil Nadu, what do you see? How do you think you can bring about people and like-minded parties together for having a broad coalition against the onslaught, against the constitution, against the scientific thinking and against rational thinkers? What do you think is a platform to bring all the people? See, in Tamil Nadu, there is some other hindrance for us. Then Tamil national parties are here. Their nationalism has gone to a racism, so to say. In Tamil Nadu, the Tamil national movements used to blame entire Karnataka, Karnatagas for the cover issue. They will blame entire Malayalis for the Mallai Periyar issue. When the Mallai Periyar issue was there, in Payamuthur, some areas, the batteries rained by Malayalis were broken, attacked by these Tamil national forces. But we conducted a survey and found that more or less most of the batteries, 90 percent, 85 percent of the batteries were run by scheduled cost people from Kerala who cannot run such a shop in their area. They have come here and opened the show. They are just identified as Malayalis, they will not be identified by the caste or community. So, they came here, we told them that you have attacked the people who cannot live there in Kerala for the reason that they are from downroading communities. But they will be arguing that, no, they should be set out, this Karnataka should be set out, the Telugu people should be set out. This is the difficulty now we are facing with our people. In Periyar days, there were leaders who were having Tamil national ideas, except on Maho Sivajana, he was with the same idea of these people. But the other leaders were not segregating people in the name of languages. They will see that they are Sudras or the Sudras only. Wherever they were, language may be different. The people of that generation was considering that all are being enslaved by Brahminism. But nowadays the Tamil national parties are segregating people. He may be a downtrodden for community or a backward community or whatever may be. But in the name of language, we are facing more obstacles from these Tamil national parties, more than from the brand-nical forces in Tamil Nadu. We can say so. We have to, we are discussing with them. Some people have accepted our, they used to blame us. Our Periyar is from Karnataka origin, so the people are supporting Periyas.  But what we want to divide the people as brand-nical forces and anti-brand-nical are the enslaved people as Sudras or the Sudras. But nowadays only there are little change in the Tamil national parties. But they are the more, we are facing some difficulties to having our movement with them. But the other political parties are with us. See, when a Periyar movement gives a comment on any of the political parties, it will be seen so seriously by the people. Political parties are with us. All the Dravidian parties may be, except to ADNK, another Audemars. They are not at all a political people, I will say. But the people from Vidadalai Srinthigal, the Dalit family of India, now the name has changed as Vidadalai Srinthigal. The other backward classes parties are with us, this DMK, the other Waikos party, they are all with us. Whenever we conduct a meeting or agitation, they will support or else they will not give any trouble to us. They will be with us. Thank you, sir, for giving us your valuable time. We will get back to you on some other issue.


his innocence, although he has painfully accepted the conviction. The family of the accused says that they have been stigmatized, faced a lot of stigmatization and financial drain in form of legal cause. That they are expressing empathy for the family of the deceased and pray that the perpetrators will be found. And finally, they pray for leniency in sentence. From the community point of view, the probation officer interviewed senior chief of free area location, Dr. Samuel Macharia, who described the accused person as being well-mannered, respectful, and was not a threat to the community. That the community is shocked by the charge that was preferred against him and subsequent conviction. That they vote for his good character, social standing, as they have known him to be a respectable youth committed to charge activities. Bishop Shadrach, a law of Agape, sanctuary charge, says that the accused person is a member of his charge. He is steadfast in faith, relays well with fellow Christians, and at the time of his arrest, he was a choir master in the charge. He pleaded for leniency. The investigating officer, Mr. Maxwell Otieno, is indicated in the report as having described the accused person as an extremely dangerous person, but violent in nature, as demonstrated by the fact that he was involved in an assault case with one Rogers at club 1824 when he was out on bond in this matter. And that the reason why the case did not go forward is because the complainant with the drew the complaint. And the investigating officer called for the maximum sentence provided for under. The community from where the victim hails from in Fika described the victim as a person who had a promising future, they were shocked at her death, and they called for a strident sentence, the family of the victim. The family of the victim reported and the pre-sentence report to have stated that following the demise of the victim, the death occasioned them monumental psychological impact and they're still to cope with the said offense and death. And other than the father of the deceased who has received psychological counseling, none of the other family members have had the benefit of the same. It is indicated that at the time the probation officer was interviewing the mother of the victim. She broke down severely and wailed, forcing him to stop the interview to allow her to come down. She is said to have indicated that she does not understand what would cause anyone to brutally murder her only daughter who was her confidant and a very close friend. It is reported that following the death of the victim and the deceased, she suffered prolonged depression and consequently suffered stroke. According to her, the inappropriate sentence is death. The father of the deceased is reported to have indicated that the extensive media coverage impeded the emotional healing. The younger brother of the victim is reported to have ceased watching news, stopped trusting people, limit his movement. A voice going to public places and only does online drops. It is reported following the death of the deceased. As already indicated in the submissions of the victim, having been the managing director of the family business in South Sudan, the business collapsed, the family became drained financially and they were not able to meet their day-to-day needs as that was the main source of their income. In a nutshell, the family of the deceased hold the view that the maximum sentence provided by the funder should be pronounced and they acknowledge that whatever the case is, even that particular sentence will not console them or arrest their pay. Finally, the probation officer and again ordered that the first accused person before this court, being Joseph, Korya, Erungu, Alaa's Joey, shall suffer death as provided for the offense of madam under section 204 of the Pino Code of Kenya.


Thank you for checking out this no spoilers movie review for Invasion of the blood farmers. Sorry. I had glare on it immediately. I'll go ahead and show this to you up front Doesn't that look amazing? This is no spoilers because I don't know how many people have actually seen this film And I don't know how many people really want to see this film But if you do I'm not giving you any spoilers because honestly it doesn't even really need spoilers Because this is one of those movies that kind of walks that line of being just really bad But then at the same time being like really fun because it's really bad. So Make up your own choice. I don't know if that's your thing or not I personally really like films that are like fun bad. So this one really spoke to me I found out about this film through The horror magazine that I get Rue Morg they had a whole write-up on it where they're talking to the director who Is very aware that this movie is not good. Sorry Fixed my hair not like it matters that much, but Yeah, so the director is extremely aware that this movie is not good at all I think when he was making it he was assuming that it would be good But as the years well decades have gone on because this is a 1972 film He's become extremely aware that it is just not a good film at all with super low budget He had to make a lot of kind of split-second decisions that are weird and Yeah, he's just accepted it over time to be honest. He's really just accepted that it is what it is, which is really cool That's a good thing. So The the overall idea of this film is that there are some druids who are trying to resurrect their queen and They need to farm blood From human beings so that's what it is. It's basically these these druids who look like farmers this guy Druids who are actually farmers Who are just harvesting blood which I do have to say this movie is pretty bad overall But I do have to say that the actual blood harvesting portions of the film are not bad They're actually relatively effective because they just kind of like Show that the the people are like tied up or restrained or like knocked out And then they just have like a tube that's hooked up to them and they're running like a red liquid through it to make it Look like blood so it is effective in giving you the idea that they're being drained of all their blood Now how people react to that they're acting not so great There are ones where people literally are like flopping around for like a long time And it's it's like way over the top with the flopping around but once again, that's kind of one of those so terrible It's awesome things. You know what I mean? So I have some notes that I want to go off of The acting is ridiculously wooden. It's it's very very rigid. It's very wooden The lines are delivered like people are taking a lot of time to think through the lines as they're delivering them So the acting is really bad But to me there are certain times in films where that if it's a bad film and I'm already laughing at it that actually Enhances the experience for me if that makes any sense. I know it's kind of stupid, but hey, that's how it works out for me The blood looks terrible. The blood is a color that it basically looks pink yes, the blood looks pink and I know I know there are a lot of films, especially decades ago that they're using different things for blood I know a lot of the giallo films from Italy were doing like actual red paint because they wanted to get a certain consistency a Certain color on film This one they it seems like whatever they could use that was relatively cheap Because it's pink. It's it's weird I was watching this with a friend and that's one of the things that bothered him the most about the film He's like it doesn't even look like blood. It's so pink. It's ridiculous like well, you know It's crazy low budget which by the way back in 1972 this film was done for $24,000 my buddy actually looked up a conversion with inflation while we were watching the film because he was interested and that comes out to I Think around about a hundred and forty thousand dollars today, which to be honest, that's still kind of mind-boggling that like Basically a hundred and twenty four thousand dollars today would Make something like that because it was so bad like I would think it'd be even less money to be honest The blood okay, yeah, the blood farming seems are effective. There was a weird noise Excuse me that kept popping up during the film and I know that it was intentional It had something to do with I think when the blood farming was going on But it was like this this distorted messed up Cicada type sound and it was just like really like Annoying and when you heard it you were just kind of like what's going on It didn't feel like it fit in the film It was more of like a is there something wrong with the audio did something screw up like that's kind of what it Seemed like it was just oh my gosh.  It was totally different. So this is that kind of like weird at weird weird dialogue writing The camera work was bad. I mean there were times where the camera work was fine But there were ones where it was just downright awful like there's this one scene where they're in like a lab I Mean use your imagination or whatever they made a lab out of but should be seen to be believed These two guys are working together in this lab and one one's kind of standing up and the other one's sitting down So they have the shot where they're like zoomed in on the guy sitting down and then when the guy who's Standing up is talking. They literally pan up to him like this But when they come to the end of the pan, it's not smooth. It's abrupt. It's kind of like this You know, I mean and then they pan back down when the guy sitting down talks and then it's like this So it jars the camera it's Terrible and they keep doing that in the scene going Between the two of them and then to end the scene they pan to something else and it looks Awful, let me fix my there you go. It looks so awful. It is so terrible And it's annoying like camera work. That's bad like that is really really really unbelievably annoying There's a drawn-out beating scene in this film where this guy's getting literally like punched and hit and The punching and hitting is not at all convincing. It's terrible. It looks awful But the fact the fact that it looks so bad and they chose to draw the scene out so much Just gives you time to really focus on how terrible and laughable and awful it is So it actually becomes very funny because they could have kept it like a extremely short scene and just done like Ba-ba and you may have been like I don't think that looked very good, but it was so fast I couldn't really figure out if it was okay or not. Okay, but when it was so drawn out like that You're like, this is clearly terrible. This looks nothing like a person getting punched and kicked and stuff it's just But it's just stuff like that in this film. That's like horrendously bad But fun and laughable at the same time Watch it with some friends. The film quality changes during it. That's that's a weird weird thing that happens with this The film quality changes legitimately. It's You'll be watching it and you're like, oh, this actually doesn't look too bad and then there will be a section where they they cut to a new scene and The quality of the film degrades so much and you're like, what is going on? Is this supposed to be like a different POV shot from some other creature or something? But then you realize because it keeps happening throughout the film here and there in random kind of places You just figure out. Nope. They must have used different film. I don't know Just another odd thing that you can't explain And then the final thing I have written down for this the guy in this who plays the sheriff My favorite favorite character in the film He wears sunglasses the whole time and you can tell at numerous points that he's wearing sunglasses Because he can't remember his lines. So he's reading his lines It's amazing.  It's the best plus He has this like crazy thick New York accent that makes it even more fun and Yeah, totally enjoyable The article I had read In room work they were talking about that particular guy Apparently what happened is that guy actually thought he did a really good job in the film And then when he was at a screening of it and people were laughing at his acting He got kind of upset about it So the director kind of stepped in and did a really good thing actually he was just kind of like oh no no I wrote the character to be Comedic like that. So you you delivered them exactly how I wanted good job And he was just like oh, okay cool, and then he felt better about himself. So Yeah, I mean good good job on the director. He did he that was the right thing to do So anyway, um the reason I own this is because after I read about it on in the room work magazine article I was like, oh my god That sounds so amazingly good that I really want to see this. So I just checked streaming services Not there which I didn't really expect it because it's kind of obscure then I checked Netflix DVD because yes, I still do Netflix DVD. I've said it on some of my other videos, but I Do Netflix DVD because they have a really large selection of films, especially older films So I'm looking for a lot of older horror films like this one from 1972 and usually I can find it This one wasn't even on there, which is kind of I was kind of surprised. I was like, oh, they didn't even have that So my only choice was to actually purchase it from Severin films yes, Severin is the one who put this together and It's on Blu-ray. That's kind of mind-boggling. It's on Blu-ray. It for the most part. It looks good They did a good job moving it over to Blu-ray cleaning it up and everything This movie is one of those kind of has to be seen to for you to believe how bad it is But the problem is your only option is really going to be to buy it so I Think it was like with shipping and everything and enough being around 20 or something I don't even remember. So anyway, there are other features on this You know, there's like a commentary with the director, which at some point I do want to check out and there's also Some interviews with some people who are involved with the film. I didn't get into those yet I just wanted to do this quick no spoilers review of it But if people down in the comments if enough people comment and say that they would really like me to do a Breakdown of the Blu-ray all the extras and everything like that. I can certainly do that I just don't know if people are all that interested and I don't want to waste my time going through everything and you know Taking notes if people aren't really going to be interested in it. But yeah, so anyway, I Would say I recommend invasion of the blood farmers just because of how bad it is You may watch it once and say I never want to watch it again I don't need it again, but it kind of needs to be Experienced in my opinion especially for people who'd like like crappy fun films So there you go. There you have it.  You can tell this is a bad film. It's kind of Not even fair to rate it because because the question then becomes do I rate it against all films in which case? It'd be like a half star or one star or something like that Or do I rate it as a crappy film in that case? It would be something like a you know like a four because it's Amazingly bad, so I'm not even really gonna rate it so but If you if you're interested Severin films has it anyway, thank you everyone for checking this out Go ahead and hit that subscribe can really help me out a lot literally takes a second for you. It's so painless Hit the notification bell that way, you know every time I'm putting up a video And if you check out my videos like immediately it can really help them gain traction, which would be great Put some comments down here. Have you seen Invasion of the Blood Farmers? I kind of wonder how many people who might see this actually would have seen it probably not many to be honest I had never heard of this when I read that article, so let me know have you seen Invasion of the Blood Farmers Do you want to see it? Let's talk about stuff down there and give me a thumbs up So you can encourage me and stuff, but anyway, thank you for checking this out until next time keep it brutal


This is stock number 10480A. We are here at Summit Automotive in Fond du Lac, Wisconsin. You're new and used heavy-duty truck headquarters. Today we are checking out this extremely clean 2014 Ford F350 crew cab long box single rear wheel. This truck has the 6.7 liter power stroke diesel and from this HD video you will be able to tell just how clean this truck is all the way around inside and out. This truck has been fully safety and inspected by our service shop. It has a fresh oil and filter change and has been fully inspected 100% per the state of Wisconsin inspection process and is 100% ready to go. White platinum tri-coat metallic over what I think is pale adobe two-tone paint scheme is a color. We shoot all of our videos in 1080p 60 frames per second so if you have HD capabilities on your computer, tablet or smartphone device turn them on right now because it is like you're right here looking at the truck with me and definitely your best way to check out the vehicle before seeing it in person. If you want to check out more photos in the upper right hand part of your screen is a link right to our website click that and check us out there. It comes with the 20 inch polished aluminum rims and brand new Goodyear Wrangler Trail Runner AT LT 275 65R 20 tires. We put these tires on in our safety inspection and are brand new all the way around. Front fender excellent shape didn't see any denser dings on that. The hood is an excellent condition as well I didn't see any denser dings on there and the front grille and bumper is in really nice shape as is the lower valence no scuffs or scrapes or denser dings factory fog lights, passenger side fender no denser dings on that and the passenger side rim is in really nice condition no scuffs or scrapes. As you go down this side of the truck you can see just how clean the body is how reflective and mirror like that paint is. We take these HD videos so if you are far away or even if you're close by and just cannot make the trip down you can still see the truck here the truck and have confidence in the vehicle that you're looking at before even get here does have the FX4 off-road suspension package which gives you the rancher shocks and the skid plates. In fact we offer a Summit Auto Fastpass option on our website in the upper right hand part of your screen a link right to our website where you can apply for financing get pre-approved see a payment quote even appraise the trade off from the comfort of your own home so that when you get here you're all ready to go you can see just how clean that frame and underbody is very very nice it does have all the remaining factory exhaust lower rockers and bottom of the box all look great back rim no scuffs or scrapes on that and that back tire is brand new as well you can still see the little wear knobs on it rancher shocks frame and underbody absolutely perfect as we come around to the back of the vehicle the rear bumpers in great shape didn't see any denser dings on that full towing package which includes receiver hitch four pin and seven pin wiring backup parking sensors you get the tailgate step assist the tailgate itself is in really nice condition it is a locking tailgate there's your tailgate step assist and you do get a drop-in bed mat in here this one also has your gooseneck and fifth wheel prep package and a seven pin wiring for that bed a little bit of light-duty usage on that bed there but nothing too bad and as you go down this side of the truck just as clean as that passenger side you know that's why we do the videos because these are used vehicles and they're not going to be brand new but I mean all you can hope for on a used vehicle is that it's as clean as this one is this back rim excellent condition as well and that's higher for full disclosure is brand new too down the rest of the side no dense no dings you get the driver side door code entry we do have the code for that you get the power scope mirrors they power fold in power telescope out I'll show you how that works so just take this button here and then pull it down it will power fold in like so now it's like showing that both sides are working because as a known issue on these trucks that they don't always power telescope or power fold in you can see the passenger sides working great as is the driver side sony sound system power windows power locks power mirrors memory driver seat inside the lariat ultimate package gives you the tan leather interior there are no rips there are no tears on the seats they're an excellent condition both these seats are power both of these seats are power driver side lumbar factory floor mats throughout auto headlamps power pedals and as we hop inside the vehicle here you can see that this one has 37,905 miles the instrument cluster is very nice and clean you get the leather wrap steering wheel bluetooth and audio controls on the right cruise controls and information center controls on the left in that steering wheel no scuffs or scrapes and really nice condition you get the six-speed automatic transmission with the optional tap shift turned out four-wheel drive downhill assist control and stability control you also have your Ford my touch radio and FM and serious XM radio capabilities you get the factory navigation system on here as well and you can do your climate controls right here you do get the heated and cooled seat buttons for both sides and this is also where your backup camera shows up you can see that shows up pretty quick and pretty clear down here you can do your climate controls if you don't like doing them on the screen you get your dual climate control here factory brake controller for upfitter switches you get 110 volt 150 watt plug-in passenger side floor mat and seat are in excellent condition the lariat ultimate package in addition to the navigation gives you the power sunroof side current airbags home link buttons for your garage door security systems and lane systems you also get map lights up here and your power slide in your window and sunroof controls are right there we'll take a quick look at the back seats and then we will check out under the hood back seats are just as clean as the front seats no rips no tears back here very very clean you get the power side rear window with the built-in rear defrost you get a lockable storage container underneath these seats and that locks with the ignition key also factory floor mats back here and you do get a hundred ten volt hundred fifty watt plug-in as well as a 12 volt PowerPoint behind the seats are your latch tether anchors as well as your factory subwoofer you also get child safety locks on the back doors and we'll take a quick look under the hood I would personally like to thank you for checking out the video today and hopefully from this HD video you will been able to tell just how clean this truck is all the way around inside and out under the hood we have the 6.7 liter power stroke diesel engine bay very clean runs very smooth this truck has been fully safety and inspected by our service shop has a fresh oil and filter change all the fluids have been checked and topped off truck has been gone through mechanically 100% has four brand new tires and is 100% ready to go to see more pictures of this truck or one of our other 450 new and used cars trucks SUVs minivans Wranglers half tons recorder tons one tons you name it we got to go to our website www.summitauto.com pull pictures and descriptions of every single vehicle from two locations all at summit auto.com if you'd like to check out more HD videos you can go to youtube.com slash summit auto remember to like subscribe and share on this video and all the videos that you see there in fact in a second you will see a link to subscribe to our YouTube channel on your left it links more F 350 videos like this one on your right if you have not been to our website on the bottom link to this vehicle on our website click those check us out and we really look forward to help you with this extremely clean 2014 Ford F 350 crew cab long box single reveal thanks again


So my beautiful people I am back with another hour than ring video and in my quest to find Every weapon in the game. I come across a weird hammer Which is basically made out of the same shiz the mimic theories and that liquid metal It's it kind of acts like a hammer a whip It's really bizarre, but it's absolutely awesome And I definitely thought I'd share it with you guys because like I said my quest to find every weapon in the game We'll find every weapon in the game. This is one. I miss so I'm pretty sure there will be people out there I've missed this too. It's called a nox flowing hammer and today I showcase all How's it going guys? My name is D.P. Jen if you do enjoy the video, leave a like, cool It helps out and if you like what you see and want to see more be sure to subscribe. Okay, so the nox flowing hammer Which weapon skill is called the flowing form because it's kind of like acts like a a spinning whip Slam thing is does take our enemies around you as well. It's pretty cool guys. It really is So as you can see It scales with strength and that dexterity and attributes acquired 17 in strength and seven in that dexterity Not bad what so ever guys and like I said it seems to be like kind of Forge from the same liquid metal the silver tier helmet is and the mimic tears as well pretty cool guys pretty cool So where do you get this finger? Actually, it's quite simple. Well, it's easily missable. You don't have to find nobody for this It's just a found randomly. So guys where we are are We're at the mimic tear grace point, you know the mimic tear bus We're gonna head from here now to get down here guys Most people will know this but for those that don't you need to actually gain access to Nucro internal city you do this guys by defeating We're done. We're done. It's located over here once you do this you get an amazing cutscene and meat here strikes the earth You come here for height West and you'll see there's a massive hole in the ground And it allows you to come down to where I'm at here. It's a simple guys. It's coming this way. It's simple We will have to fight the mimic tear boss in the area right now But it's it's straightforward. What you've done that activate a grace point from here I'll show you exactly where this thing is located.  Yeah, I found this was like wow I mean, there's probably tons of other videos on this weapon But like I said, unless you really looking for it or no ballot already You're gonna have no idea this in the game like I had no idea I come across it for what the heck is that? And then they use it for all this is cool. This is absolutely. That's great. It really is So come here guys take a sharp left this way Let's keep following this path ignore all these ads don't stop to fight them Ignore a dad up on there the singing show And come behind her And you want to come down this way Well something shooting up mass as a gracer which you may want to activate if you haven't already and then guys you just want to come this way jump off here run and Jump there and walk around. Let me put a light on Walk around here Then guys you want to jump off to you right? Simple as that And then here just jump down Let's you collect that Silver to your husk from here guys. We have to jump down this way And again, we have to jump down that way Ignore these ads don't worry about them Just run past these run past them all and come down here now come this way careful not to fall off That would be embarrassing And then which in this room Jump down here Anyone to come across this way Come through here now through here. Let's see. There's a room there Which we actually don't want to go to today if you haven't done that already use a strong soul king going there You want to jump out of the window? onto this platform Just like so and as you can see it looks like you could just drop down, but you can't you need to make a running jump so from here Just run and jump simple as that They can take out that dude if you want to if you don't want to come up here Jump through this window and on this body right there guys will be This weapon and it really is That simple guys and well there we have it if this is a weapon That you haven't got you had no idea about you missed come back and get this thing is pretty cool It's pretty unique and it could be one for the future Guys if you enjoyed the video leaving a like really helps out if you like what you see want to see more I don't think be sure to subscribe and hopefully might be you to for people. I will see you on that next one


Good morning. Welcome to CMC markets on Friday the 2nd of June and this quick look at the week ahead beginning the 5th of June with me, Michael Houston. It's been a rather divergent week this week for global equity markets we've seen outperformance from the S&P and the NASDAQ largely driven by fairly resilient performance in tech or an AI bounce if you like. But looking away from that equity market performance has been much less positive. And a large part of the reason for that I think has been concerned about how the global economy is doing we've put the saga of the US debt ceiling behind us. That is now in the rear view mirror and the US can now focus on or policymakers can now focus on how well the economy the US economy is doing payrolls which is due out later today. We've already seen this week that the US labor market still looks pretty resilient. A bumper ADP payrolls report. An increase in job openings jolts went back above 10 million again and weekly jobless claims around about 230,000 so I think today's payrolls report. It's unlikely to shift the narrative of a US economy that is still looking relatively resilient. However, what has shifted over the course of the past few days has been expectations about central bank rate hikes. There's much more discussion now about where the top is where the terminal rate is. Certainly some of the data that we've seen out from the manufacturing sector. Particularly in China where there has been concern about the fact that the rebound the post COVID rebound is already running on fumes. Looking a little bit below the hood. We'll get a better idea of how that's playing out in the coming days with the latest China trade numbers for May. Which are due out on the 7th of June, but then the week after that we also have retail sales and industrial production. And earlier this week we saw China manufacturing PMI slow more than was expected by markets and that prompted a little bit of a route on Wednesday. When it came to particularly the FTSE 100 or Tuesday and Wednesday, we can see that in this particular chart here really sharp falls in the UK benchmark index. We also saw that play out in the cat Quran as well the the France 40. And that's largely because of the fact that the French index has a very high component, if you like, of luxury good stocks and they've done very, very well over the course of the past few weeks. As a consequence of very bump, you know, very solid earnings from the likes of LVMH Hermes, carrying reach more and the like and but Burberry has also done fairly well but over the past few weeks we've all fast few days. We've seen a significant amount of profit taking from the record highs that we saw back in April the re attempt in May which failed. And now we're starting to drift back down again. So the bigger question is, you know, how much of how much of a China rebound is left. Will China actually hit its GDP target of 5% we're seeing weakness not only in the data, particularly when it comes to manufacturing but we're also seeing a softening in terms of prices paid we saw that this week in the US prices, the manufacturing prices paid component for May, which saw a nine, nine point drop from around about 52 to 43 42.4 from 52.9 in it in the manufacturing prices paid numbers so there is this week's economic data has prompted a modest reassessment of the rate path or the likely rate path when it comes to what headline inflation is doing. If you actually look at China factory gate prices, they've been in negative territory since October last year. And China has a habit of exporting its deflation and its inflation to the rest of the global economy. So is this what's coming our way. This week we saw Spanish inflation numbers we saw German inflation numbers we saw Italian inflation numbers all come in. Slowly below expectations and what was particularly encouraging was the sharp falls in headline inflation but we also saw slowdowns in core inflation they came in much, but they slowed much more than was expected. So the debate now is revolving around what happens with the Fed meeting later this month and that comes on the 14th of June we've already seen two influential US policymakers. Raise the prospect of a skip in the June meeting, while they dissect the effects of the 500 basis points of rate hikes that have taken place over the course of the past 15 months since since March last year. I think it's important to remember that central banks have hiked every single meeting pretty much over the last 12 months. And there hasn't as hasn't thus far any any significant effect on the headline inflation what has impacted headline inflation has been steep declines that we've seen, particularly in energy prices natural gas prices oil prices. But more broadly we're also seeing weakness in agricultural commodity prices. I can illustrate that for you by quickly looking at the CMC agricultural index which is a basket of key commodities corn wheat soya bean coffee sugar and what have you, and how quickly that has come down. Over the course of the past 12 months from the peaks that we saw in April May last year. We've kept we come down quite substantially. Yeah, we're still above the levels that we were back in 2020, but we've seen a really big fall over the course of the past few months. And in the case of wheat and corn prices we're back at the levels that we were seeing well before the Russian invasion of Ukraine. So there is an impulse a disinflation re impulse filtering down through the global economy. And that has consequences when it comes to how many more rate hikes are likely to come, but also the potential for rate cuts. Now, I'm not talking rate cuts this year. We're still a long way from that given current low unemployment levels. While unemployment is low central banks have no incentive whatsoever to even consider cutting rates. They might have an incentive to hold or pause whatever you want to call it. I'm going to call it a hold it's not a pause because it's going to be very much data dependent. But ultimately what we've seen so far in the past few days has been a decline in the dollar declining yields as a consequence of lower interest rate expectations or the effect that lower prices are likely to have on a potential rate path. So we've got payrolls later today, expecting a number in and around 200,000 unemployment 3.4 3.5% you know it's going to be in and around that number and wage growth of around about 4.4%. One of the things that we did see on the ADP was the wage growth there continue to show signs of coming down. So having said that it was still at 6.2%. So in essence it's still above core US core CPI of which the main numbers are out the day before the Fed is next due to me on the 13th of June. So again, there's another key data right in there that could shake the narrative when it comes to a June pause. And you know today's today's commentary US payroll set to keep June rate hike on the table. Yeah, you know basically it's going to be in each way bet in terms of whether or not the June, whether or not the Fed holds or hikes. I think if it were me that probably it'll probably be the best thing to do would be to hike and then have done with it and then see what happens. But ultimately with with headline rates of five between five and 5.25%. I think with rates at the current levels whether they hike or not probably doesn't make that much of a difference when it comes to what we can expect for the FTSE 100 seeing a little bit of a rebound over the past couple of days. But I think there is a concern that the global economy is slowing demand for commodities is slowing. I think the bigger question is how long that lasts for because I don't think even if you're talking about China slow down the various transitions to renewables is likely to keep demand for copper and other raw materials fairly high. So the weakness that we've seen in basic resources and energy is likely to be fairly limited. We've got OPEC this this weekend, another OPEC meeting. We've seen oil prices come down quite a bit remain under pressure. But again here, I think the downside is likely to be fairly limited simply on the basis of the fact that the US still needs to refill this strategic petroleum reserve. And also I think there's very limited appetite on the part of OPEC to see oil prices much below these sorts of levels that we've got down here. Having said that, any any rebounds that we're currently getting are getting shallower and shallower. But for me, I think even if we do rebound the 200 day moving average is likely to keep a nice little lid on the WTI contract. So I think it's very much a case of oil prices are likely to settle in and around current levels with the top of around about $80 on the upside. When it comes to the week coming up, we've got a couple of central bank rate decisions. The Bank of Canada, which could act as a as a little bit of a forward indicator for the Federal Reserve the week after. I think one of the things that struck me with respect to the Bank of Canada is how resilient even there. The Canadian economy has been as a reminder in April, the Bank of Canada stayed on hold keeping rates at four and a half percent. This policy makers decided to assess the impact recent rate hikes have had on the Canadian economy. And that sort of does shape the narrative of it in terms of what the Fed might do when it meets a week later. Having said that April CPI in Canada saw headline CPI nudge up to 4.4% year on year. Core prices are also slightly firmer. I've also got a solid labor market like the US. So with wage growth also firm at 5.2%. There is a chance we might see a 25 basis point hike when the Bank of Canada meets on the 7th of June. But I would suggest that they probably will continue to remain on hold. With respect to the central bank that I've got on my radar got the RBA, the Reserve Bank of Australia. And they surprised the markets a little bit in May when they raised rates by 25 basis points to 3.85%. So the bigger question here is, are they set to do the same thing again? If you look at the Australian dollar, that particular bounce didn't last very long. The reason we've seen weakness in the Aussie dollar is because of concern about weakness in the Chinese economy. The very lackluster state of the manufacturing sector there and even a fairly tepid services rebound. We'll see more detail with the services PMIs, which are due out on the 5th of June. But certainly the RBA, I would be surprised if they go again. I think the reason they went by 25 basis points in May was because they came under some significant criticism in the weeks leading up to that meeting for being too slow in spotting the inflation surge seen at the end of 2021 and throughout 2022. And ultimately, they are very much behind the curve. So there is a risk, given the fact that their headline rate is 3.85%, that they could hike by another 25 basis points. They're well behind the RBNZ, who signalled a pause in their recent policy meeting, which sent the Kiwi down quite sharply. So for me, I think there's an even chance they could go either way with respect to the RBA, given how far behind the curve they are. Certainly the pickup in the Aussie dollar would appear to reflect that some short positions are starting to get a little bit nervous. There China trade due out on the 7th as well concerns about a slowdown in the Chinese economy are growing. The recovery does appear to be running on fumes, exports growth did slow to 8.5% in April. But we could will see further weakness in the main numbers when there is an expectation that they could slip back into negative territory of 2.1%. And also Chinese imports, they are really struggling at the moment, and they fell sharply in April by 7.9%. And they're expected to decline again by 8%, reflecting the weak demand in the Chinese economy, the lower oil prices, the lower copper prices that we've been seeing. Chinese demand continues to remain lackluster. So the bigger question there is whether or not those negative forecasts, we come in in line with forecasts, or we actually come in worse than that. So certainly I think a big week for Asia focus data, we've also got first quarter GDP out of the European Union. Certainly one of the things that has been notable in over the past few days is how Euro dollar has broken to the upside. That has been more to do, I think with the idea that the Fed could well pause when they meet in June, rather than the expectation that the ECB is going to be more aggressive. I think one of the things that we have seen from a number of ECB policymakers in recent days has been that they've softened the rhetoric in terms of 50 basis point rate hikes. They're now talking in terms of 25 basis point rate hikes, and that's taken some of the edge of the Euro. I certainly think if we can get back above 108.20, and that for me I think is the big level, I've got a line through 107.80 here. But it's this series of highs through here that I think are the big levels for the Euro, 108.20, 108.30. If we can break through there, then we could head back towards the upside. But at the moment, we do appear to have seen a little, this is a four hour chart, let's look at the daily chart. We do appear to have seen a little bit of a rebound. Could you argue that this is a potentially bearish key day reversal? Possibly. But we need to see a breakthrough 108.30 to suggest that we're going to see a revisit to 109 and potentially 110. So let's certainly keep an eye on that. Cable again, seen a fairly decent rebound over the course of the past few days, found some fairly decent support in and around that 123 area. But the big, big level for cable for me is this one from this line here through these series of highs. If we can get back towards 126.30, 126.40, then we could well go for a trip to the upside. But at the moment, strong pound is also being helped by slightly higher UK yields and slightly higher expectations that perhaps the Bank of England could well go by another 25 or 50 or even 100 basis points over the course of the next few months. I for one think that it's unlikely the Bank of England will push the base rate up by another 100 basis points. I think they will mirror what the Fed does. We may see another 25 when the Bank of England meets later in June, even if the Fed goes on hold in June. But I think it's unlikely that the Bank of England will do more than another 50 in the short to median term. I just don't see that the numbers merit that and I think we could well see UK inflation fall off quite sharply over the course of the second half of this year. It might just take a little bit longer than the US, given the fact that we're six months behind them when it comes to headline inflation. Also first quarter GDP in the EU, that's likely to be fairly weak, given the fact that Germany slipped into recession in the first quarter. So we could well see a stagnation number there when that is released on the 6th of June. In terms of companies that are due to release their numbers, there's really not that much. We do have might be worth keeping an eye on Apple's share price. We've got the Worldwide Developer Conference, which is starting on the 5th of June and finishes on the 9th of June. One of the things I've been impressed about with respect to Apple is how resilient the share price has been. And we could get an announcement from Apple about a new reality virtual or a new mixed reality headset called Apple Reality Pro. There has been some chatter that it could actually be something in the region of $3,000. When I say hefty chunk of change for what is in essence a virtual reality headset. On the hardware front, on the other hardware front, we could see the launch of some new MacBooks, including a new MacBook Air, which might include the new M2 chip, with M3 chip-powered models coming later. We also have numbers from British American Tobacco second quarter numbers. And there is a renewable energy company called Fuel Cell Energy, who are reporting their second quarter numbers on the 8th of June. Other than that, I think that's pretty much it for this week, ladies and gentlemen. We've got non-farm payrolls later today, so they could actually skew the market one way or the other in terms of risk assets. But overall, there is a concern about future economic performance from the global economy. And the likelihood is that we could well be much closer to the end of the rate hiking cycles than perhaps we thought was the case two or three weeks ago. So that's it for this week. Thank you very much for listening. This is Michael Houston talking to you from CMC Markets.