here's a recap of the main stories we're covering today on our t.v. the borowitz gold story is europe's third largest economy as italy's debt cost walketh while spain also struggles to stay on track and it's brussels that's being blamed for pushing a frustrated public to vote with their feet on a major mark. the new ones the most powerful body condemning syria's deepening violence giving

a russian's call to rule out foreign intervention but urging internal dialogue it comes as protesters in syria claim that they're being quote massacred by government forces and the opposition stronghold of. a failed palestinian suicide bombers have been selling r.t. how she's using her experience to spread the peace laughter be called before blowing herself off in a crowd of his release she says her second chance allows her to dedicate her life to its color its on both sides. but that's off times in europe and the u.s. feel like they're relatively recent phenomena are former head of russia's central bank says the debts been swirling around for ages as this only be used as a political pawn as he tells our next. it wasn't just a good rushing cab hello thank you very much for being here you became head of

central bank when russia began the feeling its shock therapy policy following advice from american x. how would you advice you and i can peaks now with the situation that facing your record of live within your means that's all that's just what they told us back then that would noisier of the whole of our economic and social situation at the time that was a nine hundred ninety two when we began not part of the government began to listen to their advice after russia joined the i.m.f. starkey or later they wrote under famous stiglitz a nobel laureate and former economic advisor to clinton was among them but they were doing everything wrong what they were telling us was all wrong if we think about the ability to live for then once means that now the rush of those days also as you say you. know you have you see the u.s.s.r. was living on credit of course but it was sold on other states were eager to give credit to us the latter wasn't doing it directly but through european affiliates

they all knew after all that the soviet economy was under control and that the country would pay its debts sooner or later even without ohio prices in the e.u. that's why they were eager to give credit to the u.s. or especially to finance the purchase of high tech goods to be supplied to the soviet markets and the fact is though that after nine hundred thirty two the time of crisis for the u.s. america wouldn't sell the u.s. or complete production facilities or the like a car plant entirely r.t. our chemical plants which the u.s. is our bodies for daily and dollars worth and which are played their part in its technical progress but anyway the soviet union's credit rating was quite high it's been easy for the u.s. to get credit because of the entire system that's been built up since nine hundred forty five. and that when the i.m.f. has been set up there was a heated dispute between the u.k. and the u.s. of course the british had to back all three because their economy had been greatly damaged by the war but later led to the devaluation of the pound some years after

the war in fact all of europe was living off the marshall plan by again and that consisted mostly of agricultural commodities along with some industrial plants and factories that had to be to their technological potential and once the us didn't need any nor this impact what was the reason for america's technological lead a little bit over most recent years though it would conduction capacities growing rapidly in the cold world the share of adoption in america's g.d.p. has been shrinking that's how america began to live on credits and living on credit is always difficult as a time may come sooner or later debts will have to be paid off we give right now nobody wants to remember that he was in the early one nine hundred ninety s. when bush and the republicans came to power to look at the us external state debts obtained by issuing treasury bonds with different terms and from a week to twenty years under interest rates massively right now it's been increased still further generally as all happens under republican rule my question is then

why all the whole book now it's just political games nothing more or how much time do you think the us has left before it has to start living within its means. for work if they go at it or will you see speaking of the country's gold reserves the u.s.s.r. only john the i.m.f. and nine hundred ninety two although it was an honest founders back in one thousand forty five with the soviet delegation took part in all relevant discussions and we haven't managed to secure the right to keep our contribution to the capital of the world in gold reserves of which stalin was very keen to control the gold was to be kept in the u.s.s.r. with the i.m.f. having the right to convert any time to check if it was still there and hadn't been sold the u.s.s.r. could join the i.m.f. before december the first nine hundred forty five. then the head of gosplan was in a sense stepped in and said we came out of the war so poor that we got on file all the statistics we are about the i.m.f. old we'll see is how much we actually lost in the war so we'd better not join the

i.m.f. rules to cater to any country's currency reserves resulting from a good balance of payments and without a budget deficit should be kept abroad either in u.s. dollars or in gold and well it would be ridiculous to buy gold the price of which tended to swing all the way from eight hundred dollars to four hundred dollars an ounce in just a year and us never maintain gold prices even though it used to be tardy five dollars an ounce and in one hundred seventy one president nixon raised it to seventy dollars an ounce when the gold collected old dollars throughout france and sent them to us asking to exchange them for gold but daughter content of the dollar was devalued but everyone keeps quiet about it by it's the day the grounding on credit you could only keep your currency either in gold or in a currency that was used to ninety percent of world trade at the time and so did our country but you know even though now we've kept it in dollars and euros and even in small parts was francs or something like that since two thousand and two

the u.s. to some extent lives in debt to the entire world and that is not right that the us managed to avoid a natural default what was the threat for the whole welt. if the usa did carry a default it wouldn't have been able to repay treasury bonds and issued according to the limits set by congress to the u.s. government or to the u.s. president the government's heads so they wouldn't be able to replace them with new bonds in time and what happens within the country if they reach a compromise to cut their expenses a bit if. this has no explicit connection to the situation within their country that would on the other hand the dollar exchange rate and could in cash a need to keep drops in the world's markets on the exchange rate for securities traded around the world products as well and so. but of the fact that they're issued by u.s. companies so they underscore bookkeeping losses at the very least and perhaps even real financial losses to a large extent the debt has fallen on the bush presidency like the war in iraq and

their role in the afghanistan conflict would require a huge military expenses and in fact the whole world including our country has been funding those military costs their budget deficit and their balance of payments deficit there's a good of that as for the one year that approved us military budget for this year alone is about seven hundred billion us dollars and there are a few reasons to believe that these military expenses will go east do you think this could cost a little bit. but of course i believe that the globalization which has been happening for a while now and which hasn't been getting much to developing our third world countries will result in some kind of collapse you know what. the first since one thousand forty the us has raised its debt limit more than one hundred times it's become a standard procedure but the situation progressed to the point of shaking the world markets and the world was threatened with an train into unknown economic territory

how did that happen. to a large extent in the one hundred sixty s. or seventy's ninety percent of international settlements were in dollars you know of battles between countries that weren't even connected with the u.s. we're in the euro zone as a status to start giving up national currencies even though some european countries like denmark didn't join. the dollar mainak a settlement currency and everyone needed dollars and often required dollars rather than on the other currency therefore the dollar became the worldwide currency will give you a worldwide spread all support for worldwide responsibility and the us authorities didn't show enough of that responsibility. yet again i was there a number of the communists call the actions of the u.s. financially irresponsible do you agree or is it rather kind of game for the sake of their own. just a few very from the viewpoint of economic theory there is certainly a responsibility the rouche a famous american economist of perhaps french or canadian origin about ten years

ago it's sort of the us economy considering its domestic and foreign economic policy is bound to face a crash like the roman empire which is the tracings full economic play is central banks will change the structure there was a can amass dumping of the us treasury happened and what implications can we expect in this case but what else is there for them what are china's colleagues in spite of their trade some consider us on their own willingness to revalue their currency still keep most of their funds and dollars even though they use them actively to penetrate the development of african and asian economies to develop their infrastructure and so on there's nowhere to go or the world is astonished in the uni polar way you can just get out of them are huge especially when you have kids. thank you very much.

the people of the united states and our friends and allies will not we're at the mercy of an outlaw regime that threatens the peace with weapons of mass murder is a regime as an active program to acquire and develop nuclear weapons and let there be no doubt about we know for a fact there are that there. this work is being carried out in the direction of dr david kay a respected scientist and former u.n. inspector was leading the weapons search in iraq we ordered her of a take this apart you have a tremendous a group of dedicated american men and women with the best assets of the intelligence community and for. david kay he is not going to be. done with this for quite some time david kay wants more time and he says it could take another six to nine months to make a definitive finding ministration is asking congress for hundreds of millions more six hundred million dollars to fund

a continuing search have not yet failed shiny pointy things that i would call a weapon before we can draw from conclusions we need to let the iraq survey group complete its work. we were all wrong probably in my judgment and that is most disturbing. sometimes the true patriots takes the unpopular course but helps their country of origin stakes and even if they come this way at least from climate patriotism is the last refuge of scoundrels and i think these are scoundrels they have no argument now they have no defense for what they did the country is in a terrible international security situation and i think it's perilous so they're attacking the patriotism of others. british scientists sometimes explicitly.

market finiteness. find out what's really happening to the global economy with mike's cars or for a no holds barred look at the global financial headlines tune into cars a report on. the of. the live. just six. six.

six six. six. plus to close a team was in the gun range and the firemen flock from all over the world saga few centimeters to their cell conflicts this time archie goes to the mortgage and the folks for the gold rush still gets people like ducks for an ancient tribal fights to save its culture the cranes are protected in the first settlement on official makes a reserve. comes to the average of the bushes close up. news

today violence is once again flared up. and these are the images the world in seeing from the streets of canada. trying to hope for asians to rule the day. top stories on our t.v. the boring bandwagon rolls towards europe some third largest economy as italy's debt cost rocket while spain also struggles to stay on track but it's brussels that's being blamed for pushing a frustrated public to vote with their feet on a major mark. the un's most powerful body condemn syria's deepening violence meeting of russia's call to rule out foreign intervention and urging internal dialogue it comes as protesters in syria claim they're being quote massacred by government forces and the opposition stronghold of hamas. a failed

palestinian suicide bomber has been telling our team how she's using her experience to spread peace well after being called before blowing herself off in a crowd of israelis she says her second trads allows her to dedicate her life to tolerance on both sides. and now it's time for all the latest in a sports movie you know and even i hear barcelona's losing a football match four to one is that right they just lost it yeah it is over they lost a game four were not in the parlor universe tested actually happened they lost to a mexican team with two of the goals of the euro being scored against are you going to have to have a look at this in just a second much more plus start coming up right now. great to have you with us this is sports today plenty ahead over the next ten minutes including. in. progress to the champions league qualification

play also while nine month blast the rangers crush. of malmo. hoop dreams russia's basketball squad continue preparations ahead of the euro championships in lithuania for a place in the final with guard keith davis blasting the ticket for the london olympics. on sky's the limit mountaineering biggest ever project per person for liftoff in switch. charts and we're not coming up in just a moment but let's take going with folklore the route being one step away from making the group stages of the champions league the tatarstan i facing autonomic kiev to make a qualifying plea offer and a ravine that went into their home leg with a advantage after last week's march in ukraine. on getting the ball rolling this time around nineteen minutes in before alexey made their they've made it a couple of minutes from time strike right up the death still no consolation for

the visitors meaning rabiner into friday's where another two like for awaits scottish champions rangers meanwhile were jumped at by malmo following up on temper difference in price with a curse actually in spanish with rangers down to ten men by the time yellow page. twenty minutes. on i'd be trying to close the side would then be forced to play the final twenty five minutes with single figures following good gear is dangerous elbow e.p. heartbreak would julie arrive for rangers ten minutes from time to one hundred nine a brilliant that sending the swedes through to the next stage. she told. him he could meanwhile progress as expected against trump songs for obvious abiola testing the waters before his teammates. opened the scoring but investors up one know after nineteen minutes that was three one and i go get the home side go polls

will impact in thirty second minutes following rick a strike giving the crowd a glimmer of hope six a proven occurring for the church fifteen minutes in adrian miri yes he sent off an elbow on moxie a rare one one that was the final score meaningless to you rupa lead semifinalist been thinking maybe it see. it doesn't happen too often barcelona losing by a three goal margin cd glottal harra aside achieving their fates a record tried for a scythe florida for pole much popping into the sun life stadium seventy thousand plus fans getting to watch david via open the scoring force on the shot very much into force the four minutes it brilliantly with feet from the strikers but it was all talk and health from then on in for the couple and giants robbie on first letting rip with a d.c. legalized march right there remarking on the stop effort what all of our were

playing more like barcelona down barcelona at this stage on the reward payne on sixty three minutes five being showing his first effort with a new through netting absolutely sublime goal definitely worth another strike this . season to move would follow for the my spin team perhaps not as a statistically pleasing as the first couple but the all out up to the shocking feel one loss for boss lewis guardiola new drug hoping believes that sort of form across the atlantic put him early get kicking off. the first trophy of the italian season is up for grabs this weekend a darby clash and two. an interim milan though not taking place at the san siro but in china it's new lands first trip to the country over fifty years interwoven there are more familiar with the whole city beijing having played the same scene bird's nest stadium two years ago losing to lot c. although there is three regain the trophy last year defeating another couple side

roma it's milan whoever who entered the game it's likely that one mystery out title last season their first and seven years. of course last season would be tainted twice in the league but last season was the plants to doesn't mean we're going to have this time i think both considering the super cup very seriously it's an important truth we want to win we will do all we can to stay there twenty eleven european basketball championships are less than a month away with team russia busy running through their paces here in moscow only the finalists uplifting many in tournaments will qualify for the london olympics meaning david plotz injury had squad have a tough tournaments ahead for monk cost referee ports. russia's training camp began in early july in moscow with the head coach american david blatt concentrating mainly on bringing his large they an experienced one to optimal condition in the opening stages it seemed then moved on to slovenia where they were

joined by more seasoned players like russia's n.b.a. stars and break a leg and seem a famous golf however the squad is not quite game ready just yet as gaining strength rather than tactics still tops the caution staff's plans and despite the lack of match experience the youngsters are ready to plough in the upcoming friendlies to the story of the cheaters already gone or at least during practice it's true that some guys are really young and inexperienced however and i won't name any names i like seeing them working really hard and no one escaping it might be something signed in the opening games but i'm sure it will diminish with each match. was gone is now one of just two centers for russia with says alexander kaun missing the euro basket due to an injury however it says call forward and captain big that it is off the set list and will join the team in lithuania now according to david the blast no side of the european championships is insured

against such roster changes this kind of thing is common to almost all the teams and we have to deal with that sort of day you know whether our group is talk for not well. it's really hard for me to say i just know that in your about it from my experience every game is different. and you've got to play well to work so we hope that that's what we're going to do in the competitions russia's training camp is now entering its final phase and the team is now ready to absorb david blatz tactics ahead of the euro baskets once eleven in lithuania and we'll see the new team and action as soon as this week when it takes sports and a friend to tournaments in cyprus were on call sort of arts in moscow. another big sporting event coming up this month is the athletics world championships taking place in south korea stars can or will be attendance but germy warner will not be one of them the american carrying a ligament in his left foot so an injury which would need surgery but puts it up to

you to feel one or arguably the best four hundred meter reader in the world one gold enough distance on the uplands lympics in two thousand and four and followed up with a brace of victories the world championships it also means the highly anticipated showdown between warner until she asked what the story is tough to wait. it's quite literally an uphill battle for more than twenty climbing teams us need begin their cliff conquering project in the swiss self this week two hundred years since the ascent of the jungfrau summits on the following crew are setting our trip a feat which is only the beginning of their journey more than forty one hundred metres to go before the ultimate goal but some of the twenty three teams benefiting from star studded help cross-country skiing world champion. among those better suited perhaps for that rough ride ahead says this is just the first of one hundred fifty peaks worldwide to be skills but the himalayas serving as the next stop for

the adventure seekers. good luck to all finally to motor sport where they leave the stage of the european truck racing championships how the russian favor this week smolensk playing host to leg six journeys yok in hand one the stage but there were plenty more action behind the scenes.

certainly looks like a fun day eye to a lot is all your sport for i'll be back in just under two hours time whether it's next then tess is here with a little news. download the official location q i phone the i pod touch from the i q sam still. enjoy life on the go. video on demand policies in mind the world comes to an r.s.s. feeds now in the palm of your. question on the quality dot com hungry for the full story we've gone to. the biggest issues get the

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