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Speaker 1: Welcome to Fear and Greed business news you can use today.

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Speaker 1: Federal Parliament is back in session and the government is

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Speaker 1: under fire over triple zero outages. Consumer sentiment falls back

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Speaker 1: to pre rate hike levels, and Bitcoin starts gaining credibility

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Speaker 1: as a safe haven asset. Plus goat meat exports jump

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Speaker 1: and Nobel Prize Whek gets going. It's Wednesday, the eighth

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Speaker 1: of October twenty twenty five. I'm Adam Lang and good morning,

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Speaker 1: Sean Almer Oh Adam.

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Speaker 2: Something for everyone, goats meek, Nobel Prize is Bitcoin as

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Speaker 2: a safe haven asset.

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Speaker 1: This is a smagasport, yes, Sean, Let's start with a

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Speaker 1: big one. Federal Parliament is back in session and day

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Speaker 1: one was dominated by the second anniversary of the Hummas

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Speaker 1: terror attack into Israel and the triple zero system outages

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Speaker 1: over the past month. There was also debate over the environment,

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Speaker 1: defense pacts and electric vehicles.

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Speaker 2: As the busiest to the spring session. With Prime Minister

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Speaker 2: Anthony Albery Neisy back in town ahead of heading to

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Speaker 2: New York next week where he will meet with US

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Speaker 2: President Donald Trump. He actually said yesterday, Adam, he received

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Speaker 2: a quite lovely invitation from the President Mistrail Maneze started

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Speaker 2: question time by condemning Hermas and paying tribute to the

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Speaker 2: victims of the terrorist group's attack on Israel two years ago. Yesterday,

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Speaker 2: he said, a mass stands in opposition to all humanity

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Speaker 2: and all that we value as human beings. Opposition leader

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Speaker 2: Sais and Le said Australia had fallen short of its

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Speaker 2: responsibilities to confront anti Semitism and support Israel following the attacks.

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Speaker 2: Environment Minister Murray Watson the Governor is still aiming to

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Speaker 2: introduce environmental law reforms before the end of the year.

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Speaker 2: The timeline for negotiations on the Environmental Protection Biodiversity Conservation

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Speaker 2: Act was brought forward in a bid to boost productivity

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Speaker 2: after the August Economic reform round table. That's still the plan.

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Speaker 2: Defense Minister Richard Miles said Australia is still confident of

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Speaker 2: signing a security pack with Vanawatu, despite delays to the

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Speaker 2: DELL seen as a result of China's influence in the

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Speaker 2: Pacific nation. That came after, of course, Australia and Public

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Speaker 2: in ner Guinea ratified a landmark defense treaty that will

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Speaker 2: oblige Australia to protect PNG in the event of a

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Speaker 2: conflict and vice versa and finally, not deterring electric vehicle

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Speaker 2: take ups and not deterring EV takeup was added to

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Speaker 2: a list of principles guiding the development of a road

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Speaker 2: user charge for electric vehicles by Treasury officials in September,

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Speaker 2: and that was according to the Secretary of Department for

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Speaker 2: Transport Jim Betts. Ev road charges are gain to get

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Speaker 2: a good run over the next couple of months or so.

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Speaker 1: Yeah, Sean is going to be busy through to the

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Speaker 1: end of the year. And moving to the triple zero outage,

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Speaker 1: Communications Minister Annika Wells introduced legislation in the Lower House

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Speaker 1: to give the government greater oversight of the triple zero system.

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Speaker 1: But she had a hard time of it yesterday.

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Speaker 2: Sure did more of that in a moment. The new

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Speaker 2: laws will empower them Triple zero custodian to request information

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Speaker 2: from telcos and to demand improvements to the system. Well

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Speaker 2: said that the laws would come into effect at the

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Speaker 2: start of next month. Optics chief executive Stephen Rue was

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Speaker 2: in town, as were the other bosses of the telcos.

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Speaker 2: He faced questions yesterday about his future with the company

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Speaker 2: when he arrived at Parliament House. Now Well said she

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Speaker 2: laid down the law to the telcos yesterday back to

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Speaker 2: her opposition leader, Susan Lee used the first question of

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Speaker 2: the afternoon to Savage Wells over her self description last

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Speaker 2: week as a new minister as in one hundred and

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Speaker 2: forty seven days after being sworn into the portfolio. Demanded

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Speaker 2: to know if Wells has spoken to the families of

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Speaker 2: those who died during the outage. Every single question from

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Speaker 2: the coalition, one from the costs branch in question time

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Speaker 2: was directed at Wells. They believe they can do some

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Speaker 2: real damage on this issue, yeah.

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Speaker 1: And sew and clearly they were going for it outside Parliament.

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Speaker 1: How did our local markets perform yesterday? There?

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Speaker 2: PISX two hundred closed down zero point three percent to

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Speaker 2: nine hundred and fifty seven points. Consumer discretionary stocks led

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Speaker 2: the falls and it came despite Wall Street hitting record

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Speaker 2: highs yesterday morning.

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Speaker 1: But really, Sean, it's markets that are all about gold

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Speaker 1: at the moment, aren't they. I mean, it's edging closer

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Speaker 1: to US four thousand dollars an ounce. I'm still really

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Speaker 1: amazed by that figure. Gold will become Australia's second most

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Speaker 1: valuable commodity export. Overtaking liquefied natural gas still behind iron ore,

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Speaker 1: and this is on the back of the precious metal surge.

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Speaker 2: So revenue from bullion will jump to sixty billion dollars

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Speaker 2: this financially year, up from forty seven billion dollars last year,

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Speaker 2: almost double the level of two years ago, according to

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Speaker 2: the Department of Industry, Science and Resources. The surge will

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Speaker 2: partially offset expected revenue decline in other commodities like iron

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Speaker 2: or will be lower, lng will be softer, in part

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Speaker 2: as crude oil has weakened. Metallurgical cold another major expert,

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Speaker 2: has also dropped.

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Speaker 1: Sean. I think one of your lines of yesterday's bulletin

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Speaker 1: was gold keeps growing its luster?

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Speaker 2: There you go. Does it grow luster? That's good, that's

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Speaker 2: a good question. Develops luster, maybe increase its luster increase? Maybe? Yes. True.

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Speaker 1: Let's go to global markets. Gold and bitcoin have become

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Speaker 1: unlikely allies, both trading around record levels as investors retreat

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Speaker 1: from hard currencies.

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Speaker 2: Can you imagine a bitcoin as a safe haven asset? No, clearly,

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Speaker 2: manyfle not that long ago. It's pretty extraordinary. Gold is

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Speaker 2: considered a safe haven asset. Fair enough, silver too. Bitcoin

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Speaker 2: surely not the reason the euro is under a new

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Speaker 2: pressure after the new French prime minister resigned after just

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Speaker 2: twenty four hours of the job, providing it another political

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Speaker 2: crisis for that country and that region. The yen tumbled

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Speaker 2: this week after pro stimulus Sene Takeichi was set to

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Speaker 2: become the country's new prime minister, and of course the

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Speaker 2: US dollar remains under pressure. It's down thirty percent against

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Speaker 2: bitcoin this year as the US government shut down drags.

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Speaker 2: On top of all this, US, Japan, Europe massive debt levels.

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Speaker 2: That's not helping sentiment. If things were okay, that probably

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Speaker 2: wouldn't be too much of an issue, but debt is

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Speaker 2: just adding to it. So all of a sudden, people saying, well,

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Speaker 2: maybe we should have put our money in bitcoin. It's

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Speaker 2: a safe have and asset. It's an unusual world, Adam Sean.

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Speaker 1: It's going to take me some wrangling to get my

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Speaker 1: head around that. Let's go to business by numbers. The

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Speaker 1: top three numbers you need to know for the week,

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Speaker 1: brought to you by zero dot com dot au Sean.

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Speaker 1: What are they?

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Speaker 2: Well? Number one and I'm becoming a break and record,

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Speaker 2: but so much is happening you just can't ignore it.

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Speaker 2: Four thousand US dollars announced where gold is heading. Pretty phenomenal.

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Speaker 2: Number two thirty percent the appreciation in bitcoin against the

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Speaker 2: US dollar this year. That's pretty incredible. Number Three. We'll

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Speaker 2: come to this story in a moment. I went on

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Speaker 2: a learning expedition on this one. Three hundred and fifty

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Speaker 2: million dollars is a number. That's the value of goat

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Speaker 2: meet exports from Australia. We'll come to that one in

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Speaker 2: a moment, Sean.

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Speaker 1: Do you remember the bike ride we did in May?

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Speaker 2: My legs? Do my behind us still recovery lightly? You

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Speaker 2: mentioned that and all of a sudden I started getting

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Speaker 2: pains in areas twinge with pain.

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Speaker 1: Yeah, so do you remember how many goats we saw

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Speaker 1: along the road?

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Speaker 2: Very true.

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Speaker 1: Let's come to that in a moment. With the rest

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Speaker 1: of the day's business news, Sean. Consumer sentiment has tumbled

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Speaker 1: for a second month in a row and is now

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Speaker 1: back to the level it was when the RBA started

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Speaker 1: cutting interest rates earlier this year.

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Speaker 2: And that's bad news given there has been three rate

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Speaker 2: cuts already, yet consumers are still not particularly happy. While

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Speaker 2: consumer sentiment is solidly better than throughout twenty three twenty

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Speaker 2: twenty four, it may be stuck at a negative level,

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Speaker 2: with are more pessimous than optimists. According to the Westpac

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Speaker 2: Melbourne Institute Survey Possible Corporate The contraction is the recent

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Speaker 2: negative headlines surrounding inflation. Meanwhile, September job adverts in Australia

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Speaker 2: fell a large three point three percent as measured by

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Speaker 2: the anz Indeed Index. Recent job ads flow data has

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Speaker 2: been I say mixed, but is consistent with the view

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Speaker 2: that the labor market that labor marketing conditions are easing

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Speaker 2: slightly at the moment.

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Speaker 1: ACIK has approved Alternative Exchange Sea BOWS application to provide

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Speaker 1: a listing market in Australia, a move which increases direct

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Speaker 1: competition for share market floats with the AX.

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Speaker 2: This will put pressure on the ASEX. The approval by

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Speaker 2: the Australian Securities and Investments Commission allows SEBO to list

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Speaker 2: new companies on its platform in addition to its existing

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Speaker 2: ability to list exchange traded funds. It gives an option

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Speaker 2: for investors here. Assex says, the decision facilitates more access

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Speaker 2: for Australian investors to investment options, initial public offerings and

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Speaker 2: dual listed foreign entities. The AX is under intense regulatory

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Speaker 2: pressure at the moment relating to a Botch technology upgrade

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Speaker 2: and a settlement outage that occurred late last year. This

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Speaker 2: will just put more pressure on it and ax A

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Speaker 2: share price fell yesterday as a result.

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Speaker 1: Bring on the competition. Global minor Rio Tinto has demonstrated

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Speaker 1: its focus on West Australia's Pilborough with a one point

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Speaker 1: one billion iron or mine expansion with its Japanese business

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Speaker 1: partners as part of its broader pledge to spend US

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Speaker 1: twenty billion dollars over three years to maintain production levels.

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Speaker 2: The investment, alongside its Japanese partner's Mitsui and Nippon Steel,

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Speaker 2: will develop new iron ore deposits at the West ANGLEUS mine,

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Speaker 2: which is part of the Road River joint venture. The

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Speaker 2: deposits will allow Rare to extend its mining and maintain

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Speaker 2: its annual production capacity of thirty five million tons. Rare

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Speaker 2: has been pushing to get more iron ore out of

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Speaker 2: Pilborough recently. It's the biggest and most will be business

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Speaker 2: for the minor. A couple of months ago, it opened

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Speaker 2: its Western Range Operations, which is a joint venture. It's

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Speaker 2: also got other projects at Brockman and Hope Downs that

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Speaker 2: have been earmarked for expansion. Miners in the Pilborough have

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Speaker 2: been seeking ways to mind better quality or from their

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Speaker 2: aging pits. China looks for high grade iron ore, and

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Speaker 2: given how much we've gotten out of the Pilbor, there

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Speaker 2: is an issue there that the grade isn't quite what

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Speaker 2: China wants.

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Speaker 1: Sean Australia is the world's biggest goat meat exporter. Now

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Speaker 1: we've got a particular curiosity here from our writing experience.

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Speaker 1: We sell more than three hundred and fifty million dollars

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Speaker 1: worth each year. But Sean, we are also one of

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Speaker 1: the smallest producers of the food, and that is because

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Speaker 1: Australians are among the least likely in the world to

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Speaker 1: eat goat.

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Speaker 2: So we produce about forty four percent of the world's

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Speaker 2: goat meat exports, according to Meat and Lifestyle Australia, and

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Speaker 2: last year there were nearly three point five million goats slaughtered.

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Speaker 2: According to the ABS, local producers and now folks on

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Speaker 2: new products beyond you know, beyond curries, basically beyond the curry,

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Speaker 2: beyond the curries such as goats salami to entice eaters.

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Speaker 2: According to a story on the ABC, Follen Well goat

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Speaker 2: steak sausages, those sorts of things. Goats high in protein,

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Speaker 2: high and iron, and in many countries is considered alongside

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Speaker 2: lamb in terms of meats. In fact, Adam, you'll pleased

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Speaker 2: to know, sun dried goat meat is a Cypriot century's

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Speaker 2: old delicacy.

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Speaker 1: Like a jerky.

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Speaker 2: Maybe maybe one of the country's most prized cold cuts.

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Speaker 2: I must say, do you know what the most consumed

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Speaker 2: meat globally is?

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Speaker 1: I'mous chickens.

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Speaker 2: Now, it's pork thirty six percent of the world's meat

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Speaker 2: intake there, according to the United Nations Food and Agricultural Organization,

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Speaker 2: chicken second, beef third.

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Speaker 1: And would you mirror that in your household?

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Speaker 2: Sean, No, don't eat pork much at all. Don't really

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Speaker 2: eat a lot of meat. Well, I personally don't eat

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Speaker 2: a lot of meat.

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Speaker 1: Yeah, you're increasing the seafood index.

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Speaker 2: You're more the seafood person, Sean.

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Speaker 1: In international news, US President Donald Trump has threatened to

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Speaker 1: invoke the Insurrection Act of eighteen oh seven to deploy

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Speaker 1: troops to American cities, intensifying a standoff with Democratic led

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Speaker 1: states resisting his use of the military on US soil.

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Speaker 2: The old Insurrection, activated in a seven AH yeah, that

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Speaker 2: one hasn't been dusted off before. The President sounded the

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Speaker 2: warning as his efforts to send federal troops to quash

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Speaker 2: protests in several cities have had mixed results in the courts,

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Speaker 2: with one blocking the deployment of the military to Oregon,

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Speaker 2: another allowing it in Illinois. According to The Financial Times,

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Speaker 2: Trump responded by saying, we have an Insurrection Act for

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Speaker 2: a reason, citing the law enacted in the early nineth

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Speaker 2: century to crush rebellions. If I had to enact it,

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Speaker 2: Trump said, I'd do that if people were being killed

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Speaker 2: and courts were holding us up, or governors or mayors

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Speaker 2: were holding us up. Trump's threats suggest that he intends

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Speaker 2: to press their head with his plans to use the

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Speaker 2: military to stamp out protest domestically, even in the face

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Speaker 2: of setbacks in court.

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Speaker 1: Let's move on to the Nobel Prize in Physiology or

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Speaker 1: Medicine this year and it has been awarded for discoveries

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Speaker 1: that explain how the immune system attacks hostile infections, but

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Speaker 1: not the body's own cells.

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Speaker 2: The prize is shared by japan Schiman Sakagucci and US

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Speaker 2: researchers Mary Brouncau and Fred Ramsdell. They discovered what they're

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Speaker 2: calling security guards that eliminate parts of the immune system

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Speaker 2: that could attack the body. Their works being used to

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Speaker 2: develop new treatments for autoimmune disease and cancer. According to

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Speaker 2: the BBC, the trios research is critical to understanding how

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Speaker 2: the immune system works, how it protects us from all

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Speaker 2: those thousands of different infections that are tried to invade

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Speaker 2: our body, but at the same time it actually leaves

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Speaker 2: our own tissues unscathed. Quite remarkable really. Six Nobel Prizes

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Speaker 2: are awarded every year in physiology or medicine, physics, history,

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Speaker 2: economic science, literature and peace work. The last, of course,

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Speaker 2: draws the most attention. It is Nobel Prize Week. This year,

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Speaker 2: there are three hundred and thirty eight candidates for the

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Speaker 2: Nobel Peace Prize, two hundred and forty four individuals and

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Speaker 2: ninety four organizations. Of course, Donald Trump has been nominated

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Speaker 2: by a handful of global letters, including Benjamin Nett and

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Speaker 2: Yahoo for the Peace Prize, which is announced on Friday night,

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Speaker 2: Australian time. We'll all be waiting for that.

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Speaker 1: One, Sean Up next is the film Greg Q and

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Speaker 1: A with Tim Lawless from Cotality. What did you cover

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Speaker 1: in this interview housing.

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Speaker 2: Not surprisingly, of course, we've over the last week there's

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Speaker 2: been plenty of news around what's happening in the housing market,

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Speaker 2: prices arising. So I asked Tim why we talk about

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Speaker 2: government incentives, We talk about supply, the lack of supply.

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Speaker 2: Where it gets really interesting is what about price appreciation,

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Speaker 2: you know, the short term, the medium term, in the end,

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Speaker 2: the long term. And Tim's answers kind of surprised me.

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Speaker 2: It's not what I expected him to say.

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Speaker 1: Oh, I look forward to that. That's up next in

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Speaker 1: the Fear and Greed playlist on your favorite podcast platform

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Speaker 1: or at Fearangreed dot com dot au. Thank you Sean,

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Speaker 1: Thank you Adam. It's Wednesday, the eighth of October twenty

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Speaker 1: twenty five. Make sure you're following the podcast. Join us

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Speaker 1: online on LinkedIn, Instagram, x TikTok, and Facebook. Have a

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Speaker 1: great day.