as a risk taker when he bought the times and sunday times of london the newspaper business was absolutely in peril in the u.k. mostly because of the unions and because of some other economic factors he turned that around. basically there are people who will say that he saved the newspaper industry and london because of the whopping revolution in one thousand nine hundred six but now it's clear that success came with a heavy price tag morality murdoch's journalist kept the ratings high by violating and exploiting the vulnerable they hacked the private voice mails of families of dead soldiers and of murdered children a century we've seen criminality and invasion of privacy on a staggering industrial scale not even the rich and powerful could escape then chancellor gordon brown's baby was splashed over the front page of the sun his illness a sick headline royal family phones were hacked the scandal even goes right to the heart of the police force senior police officers were bribed by journalists for

tipoffs on sensitive investigations private lives were made public now we've got. to be some hacking into gordon brown's private life you have to so you have to stop what else is in of course the heart of it is not just. what we call blanket these are people. information what should be private sources like medical records tax records it's taken thirty years for the worst fears about the british press to come true but come true they have murdoch may own successful newspapers in an ailing market but their papers which have lost their greatest asset the public's trust the u.k. has more c.c.t.v. cameras per person than anywhere else in the world i've counted eight just in this small car park so britain's always know big brother is watching but the question

now is what's big brother watching for and more importantly who's trying to bribe him you are at it r.t. london. i want to get you know you can have your say on the scandal on our message board at r.t. dot com now the question is has rupert murdoch's son station and listing rush for profits undermined the public's trust in british journalism so have a look at the stats now and see what some of you are thinking the one of you believes that this has jolted the public's trust and will result in the breakup of my daughter stranglehold on both the british media and the government and other believes that modern journalism has sacrificed objectivity for the sake of saying also want to have your say on the issue right now to talk. all the same credit rating agencies that sparked fresh panic in the e.u. is now threatened the u.s. says it's reviewing america's top aaa debt rating for a downgrade citing the political bickering that's deadlocked the budget talks in washington and even if the budget is approved unlikely that a bill of

a solution to america's debt that's according to investor co-founder of the quantum fund named jim rogers u.s. rating should have been downgraded years ago you know i don't know why they're just now getting around to it but we know that the rating agencies don't have much of a clue about anything moody's is trying to save itself why didn't they tell you great portugal three years ago five years ago or greece you know they're just getting around to reality it's like the sub prime mortgages they didn't downgrade anybody until it was already over they had many people that were going bankrupt right it is aaa something will happen they will announce some kind of deal it will look good on paper and maybe they will even be good for six months or so they have to increase in ten ceiling for the moment there's no question about that their choice though for the future is they've got to take an axe you know they've got to take a chain saw to government spending and do something about it they're not going to do that they say they're going to say they're going to do it and probably should be

very worried because america's situation is dire and our debt is going up and we are a guarded climbing standard of living is going to get worse we should be worried about that. and over you also heard from american economist and radio host richard wolffe he says that the u.s. economy is in a really serious trouble and the political deadlock over the budget could make the situation the balance the american government can't pay its debts for a few days and that's the most that will happen it will do a very bad job on diminishing the credit of the united states in the world economy at a very dangerous time to be brutally honest neither side neither the president the democrats nor the republicans are facing the basic issues of this economy we are in serious trouble we have very high and persistent unemployment and what we are doing is arguing over the technicalities of the debt ceiling that is going to be changed and raised as it has been every other time this theatrical drama has been rerun and

meanwhile our political leaders are not dealing with the underlying problems we're facing an economic situation that is more dire than any i have seen in my lifetime of being a specialist on the american economy and i think we're seeing a growing alienation of the american people from the whole spectacle as they watch their real situation deteriorate and nothing really is being done. still to come on the program. on the other side of the world europe's struggle. takes another hit the world's largest economy wakes up to the reality. israel's prime minister has to step up in defense of. support has been dubbed an affront to democracy. divers have lifted more bodies from the water the sunken pleasure cruise. it brings the official death toll from russia's worst

disaster to one hundred twelve meanwhile the police have made the first arrests detaining the owner of the company that rented out the ship and the person who certified it seaworthy. is at the site. the first two arrests have been made in the ongoing criminal investigations the first is in new york and she's been arrested because she was the owner of the company that rented the pleasure boat for its final cruise and it's thought that she may have known about the poor condition of the ship but when she made that decision to rent it the second shot of here's a state shipping expert and he cleared the ship as fit to sail some time ago and it's thought that he may have been negligent in making that decision they will stay in detention for around a month to be questioned and then the case will go on from there emergencies ministry here on the volga bank and the divers that are going out to the platform

above the sunken bowl guerrier they say their final effort is going to be made now to try and recover the lost bodies. from from the ship and however there may be some complications with that they're hoping to finish sometime later today that they've searched most of the ship now and they haven't found all of these bodies so if they're not on the ship some of them when the ship sank people may have unfortunately drowned in their bodies being carried by the current to worst estimate up to two hundred kilometers downstream so the search area may have to be increased for them but they're hoping to finish this search so that two special ships that have come up from foreground further down the river can start the operation later on to try and raise the ball gharyan from the bottom of the volga and when they can see the ship up in the open air they can try and work out why the

ship sank and why it sank so fast leading to so much tragedy. we've got more on russia's worth boating accident on our web site to our through dot com you can watch footage of the recovery. bits of divers in the volga river there's also an interview with a former captain of the doomed ship who says it was in no condition to sail long before the sinking. russia has proposed a new step by step strategy towards iran nuclear program the idea is to just making a limited concessions to tehran if it goes along with the demands of the international community the statement comes after talks between the u.s. secretary of state hillary clinton and russia's foreign minister sergei lavrov this was during his visit to washington but you also touched upon the libyan campaign with russia last disagreement on the matter with the u.s. done with some european countries. now brings us a bit. with regards to leave both russia and the u.s.

have the view that colonel gadhafi must step down and that leaves should be able to choose their future leader it's the path towards those aims that moscow and washington disagree on. your world russia criticizes the scope of the into the foreign intervention in libya also sees the actions of the allied forces forces there as a violation of the u.n. mandate minister lavrov said the resolution is being wrongly interpreted as anyone can do whatever they want for minister laugh it off was also asked about why russia is blocking a u. and they should have to condemn the syrian president assad he said the attitude of the west is exclusively about exerting pressure on one of the parties namely the syrian government and president all side of moscow sees this as sees it as the wrong attitude russia says it sends the wrong message to the syrian opposition prompting them to believe that if they were remain insistent in the situation keeps getting critical the west will come to help them the way it is happening in libya

mr lavrov said it's unacceptable that the opposition resort to violence agitating peaceful protesters into engaging in armed clashes and effectively turning them into targets for the police and security forces take a listen you need to deploy. diplomacy. it's not soup and score political points diplomacy exists to solve problems and make it condemnation without proposing any solution won't lead us to any breakthrough neither in syria nor in any other place is a good example of how we are all dealing with the situation in yemen no one this trip a reason to condemn anyone or adult the u.n. security council resolution supporting one or another signed everyone is urging that she signs to see down and hold negotiations dance a responsible approach that we hope will prevail. about to read more about the agreements reached during our start of the visit to washington just log on to our website. plenty more for you there as well including find out why you went to the

first man in space yuri gagarin has been unveiled right in the very heart of london . and it's a happy ending for an escaped but work strict which of course when i was last in russia city of kaliningrad i log on to our to talk to to find out how the two meter long snake slithered away in the first place. wealthy british.

market. find out what's really happening to the global economy. no holds barred look at the global financial headlines.

from moscow that's now at just after a quarter past the hour the currency crisis gripping the e.u.'s taken a turn for the worse. by a string of ruinous market downturns is now debating emergency spending cuts trillion dollars the world's largest economy has been struggling to remain competitive since joining the eurozone but its debt has spiraled out of control a fact overlooked by many and that the more pressing problems in the e.u. it follows the downgraded to junk status serious blow to the euro zone. to prop up its weakest economies. that the latest developments prove the single

currency union is simply not working. always about politics it was not about economics the idea that you can. in the mediterranean in line with economies like germany. growing economies like germany was never going to read the only way to get out of this mess is for those countries to go back home to their national currencies to devalue growth moving. into exports going in at the moment they can't use their debt because they couldn't see these are controlled by frankfurt they're controlled by the european central bank they're not controlled by athens or lisburn or even though we see the people out on the streets and athens i just wonder how long it will be before the people are out in the streets in rome and in lisbon and talk this thing is contagious this thing will move right across the continent specifically in the mediterranean and the bigger issue now facing the european union is this really really is the third largest economy in the eurozone this place largest economy in the world i think the euro zone can actually cope with greece

and portugal the smaller economies but it's italy goes the whole thing could cave in because if italy goes italy's economy is intertwined with spain's and of spain and italy go then we are in serious trouble. the plague sweeping the e.u. spreads to italy max keiser and stacy hope but discuss whether the country's gold reserves might be making it a bigger target because report coming your way in just about ten minutes time but for now is a pretty. balmy four hundred tons of gold and. the second biggest position in the euro zone and that's the mother lode bethink that's been the target all along the greece the ireland portugal those are side shows there are little micro-cap countries not much of a deal there but italy's got actual gold at the i.m.f. and the people who support the i.m.f. the terrorists as i mentioned like eric cantor they are helping to facilitate the thieving of that twenty four hundred tons of gold because that is meaningful.

all right and twenty minutes past the hour now here in moscow it was a session in the israeli parliament as the prime minister himself had to defend a new bill outlawing it consumer boycotts of products from settlements on occupied palestinian territory the law imposes high fines on boycott organizers and allow settlers to sue them for compensation and opponents of called it a blow to israeli democracy and free speech one peace movement called go along as a petition to the high court against the new law the bill has punished story has pushed the already distant possibility of peace talks with palestinians even further away the viewer wrote of. a spokesperson for the solidarity. obviously this is not only in antidemocratic law but it also shows that in a sense in a very deep sense the settlements already lost

a large part of their digital raised both in the international community and in israel because that is the only that is the only reason why you need to. set such petitions as the growth of petitions by your current regime in israel is not really interested in promoting a very big peace accord with the palestinians this move is not only another bash in the face. of the chances. to reach a peace accord but also. in a certain sense to a very strong step forward diligent always being the israeli peace that is fighting for if he is going to be support. just a few moments here are two years dmitri with the business news up another check out some other headlines from around the world this. identified gunman who killed at least seven people and injured dozens overnight in the early hours of the morning in pakistan's largest city of karachi vehicles and car tires were on fire throughout the city the violence which has been raging for five days has already

claimed at least ninety three lives it was sparked by the decision of the city's most powerful political party to leave the federal ruling coalition and join the opposition. a blast that has ripped through a mosque in the afghan city of kandahar during a service for the president's half brother who was assassinated earlier this week at least four people were killed among them a top cleric of the provincial council reports claim it was a suicide bomber the information has not been officially confirmed. israeli warplanes have bombed three smuggling tunnels along with another reportedly used by terrorists in northern and southern gaza the attack came in response to two rockets fired from gaza into southern israel which caused minor damage to a house palestinian medical officials claim that five civilians suffered slight injuries while the two were missing israeli military officials say rocket fire from gaza has been on the increase recently. all right up to date on all the news here on r.t. except your business news so i want to start by dimitris here in just about.

those. little pellets the international sanctions as to take place in prose on july ninth and tenth. this living collections by russian designers in the most beautiful the city of central russia. this is a living fair children's function shows slogans like so presiding over the festival . fashion festival. this is. and welcome to business r t precious metals are enjoying another strong session as investors look for a safe haven from the storm brewing in the world's biggest economies gold is posting fresh record highs seen as a traditional store of values being driven by concerns over the u.s.

debt situation and the prospect the federal reserve will print yet more dollars now joining me is the last thing in trade that capital hello to you but i was so what do you think is the biggest driver of the market the prospect that the federal reserve will print more money and therefore inflation or the worst thing that situation in europe in the u.s. . well i think it's an amalgamation of all these factors dimitri that's pushing the price of gold higher it did look like a few weeks ago that the price of gold was going to come in lower but then you're starting to see increased eurozone concerns increased inflationary concerns and as you mentioned the prospect of more quantitative easing more stimulus spending from from the federal reserve we thought that that finished at the end of june now in the last couple of days or so there's an increased likelihood that the federal reserve could start to print more money and that is going to go into areas that's going to go to gold and into equities are most likely gold at the moment so it

continues to push foreign higher gold is currently trading just under six hundred dollars on the spot market but there's no reason why you can push through that exactly we're seeing gold of fifteen hundred ninety two right now where do you think is the top of this gold rally. is very very difficult difficult to call because it's making new highs at the moment and as long as it's making new highs there's no ceiling there until you get to the round figure so obviously sixteen hundred dollars would be an obvious level for gold to hit and then you start to see some profit being taken off the table but then you could push through that and as there's no ceiling you could carry on going to seventeen hundred eighteen hundred dollars is it difficult to write what if what if lawmakers in washington actually got a grip on reality and did something about this whole deficit situation do you think in this case gold could come crashing down. i don't think so because that's just one of the factors that would need to be resolved in order for gold to come back down again we still have ongoing eurozone debt concerns which is pushing investors

to shift their money out of equities and bones and into into gold we still have inflationary concerns which is again money moves away from inflation sensitive products to safe haven assets such as gold so you solving the debt situation in the u.s. would just be one of the factors that would affect gold price so would you actually recommend right now investing into gold for those who didn't jump on this bandwagon before. it would be worthwhile having gold in a portfolio but then you've got to be wearing a buying at such levels and gold can be particularly volatile thank you can be particularly sensitive to any economic news and we have seen a drop twenty thirty dollars even in a day or so so if you're buying by small all right in this case that investors actually getting worried that gold is getting too high are there any other safe haven assets worth considering. is this very fear the moment do you think that the

dollar would be relatively safe but with all the issues in the u.s. even the dollar which has seen a bounce in the last couple of weeks start to come back down again so unfortunately you only have gold and then you have secondary assets such as silver and platinum. that woods would pretty much be on the backburner gold is pretty much the only one out there now all gold is actually setting record highs every day whereas silver used to it came up to something like forty seven the dollars per ounce now at thirty nine wouldn't that be a good option. sorry could you repeat that again because well silver is actually up thirty nine dollars per ounce the highs were more than forty five dollars per ounce if i'm not mistaken when that then be a good option. it would be but silver is a lot more volatile and it has a lot more industrial uses the gold and it's not often seen as a particularly safe haven place to park your money and silver was experiencing almost bubble like qualities

a couple of months ago the experience back in the 1980's is particularly volatile and you could find that you could be buying silver relatively high and you could be sitting on some heavy losses a couple of weeks down the line all right man i was i was leading a trader from e.t.f. capital thank you so much always a pleasure. i was moved to be in markets then european markets are trading in negative territory they're driven by the overall uncertainty over debt problems both in the e.u. and the us lloyds banking group is putting on two percent as bucking the trend in london and frankfurt metro a.g.m. commerzbank are actually seeing losses of two point six and four percent respectively while carmakers b.m.w. volkswagen and dime were asked wrong. rushes markets in negative territory but they are coming back from the losses that they saw soon after the opening so the obvious down point two percent my six point three percent take a look at some of the main movers energy shares like gas from

a nuke or down one point three percent for gas from bear that's on the uncertainty of where oil will go it's high enough and ready financials like sperm bank also losing point six percent growth telecom is seeing one of its most volatile sessions yet again this month it's a down one percent it's all over the place pretty much. or i will join my colleague martin across from us you'll be here in one hour's time with a business update. for

the full story we've got it first hand the biggest issues get a human voice face to face with the news makers. first cream removal cold clear cutting. second explosives are used to plans to go deeper than the there's a. third the remains are removed by machinery. finally the unborn and soil is deposited in vallecito. on a farm. in india in the movie joyce the photo the i love you lots the gateway hoto the grand imperial troy the tall western coast coromandel let's go to the socialist

sea don't need to go and. run to some of the kennel was hoto as a treat. it's now a hospital here in moscow you with a quick summary now of our top stories the official. from a pleasure cruiser rises to one hundred twelve. to find those still missing all of the police arrest the owner of the company that rented out and the person who started the world. america is threatened with a credit. of the world's largest economy scrambles to avoid going down the plug hole with. talks between russia's foreign minister and the u.s. secretary of state. proposes

a new step by step strategy towards iran may bring to the negotiating table over its nuclear program. rupert murdoch's media empire. britain's largest broadcaster as the frenzy. consumes politicians and police. and as the plague sweeping the spreads to italy. and discuss whether the country's gold reserves might actually be making it a bigger target because a report is now. skies are this is the kaiser and pour gold hitting new highs and euros and british pounds u.s. dollars all across the world people want gold and out o. the currency matrix to see her tell me more well max the entire world's

financial system is once again crumbling and part of the reason of course is the oligarchies that rule our world and have not faced justice for that because they are part of the all the darky there's no differentiation between the heads of these banks and the heads of the government but also importantly the other important ingredient is propaganda and how propaganda confuses the populations in the west half of us social program re symbionts believe they have not used a government social program so this is from the united states and if you look at this chart of the top four demonstrating the most ignorance of being receptive audience of government welfare three out of four of them regard our referring to higher education that that is the five twenty nine or coverdell which sixty four point three percent of people who receive this government funding don't even.