ban iranian oil imports by july but tehran is planning to stop sales imminently to the e.u. in a retaliatory move parties laura smith is in london where anti-war protesters are fearing the worst in the continuing standoff. the people here are saying that this is just the first step in st many again that calling a possible war with iran that got a tear outside the u.s. embassy in london and that message is very clear you can see on the ban is all around me saying don't attack iran that calling on people to stand up and be counted and oppose a possible war with iran which these they say is becoming more and more likely as sanctions or even recently by the e.u. both on oil exports and on financial assets and of course that also you cite saying the reason that killing both any rainy and new scientist which they say was carried out by either the israel or the u.s. they saying that it's a growing threat against iran and they're here to show you that there is very

little public support in this country anyway for a war with abroad people have seen in this country the tools in the wrong and he is a known. been extremely cold spring financially in terms of human law if. people feel those a wolf only raul is not just a. it's brutal as. the last. big liberal he's got to. being held at each location in london outside the u.s. embassy to protest against what these people are calling this ready look u.s. imperialism they say and the government and the mainstream media in this country is building something and they'll be coming out on the streets repeatedly to protest against. reporting for us there now the first signs of hope have emerged after nearly two weeks of deadlock in talks between greece and its creditors over the country's huge debts negotiators say

a deal could be closed within the coming week while the final details are as yet unknown private investors are expected to agree to write off more than half of greeks bond holdings that would reduce the country's debt by more than one hundred billion euros. to pave the way for the next tranche of a viable bailout from that you knew and the international monetary fund to keep the country afloat the search for a remedy for the paralyzing eurozone debt crisis has been center stage at the annual world economic forum in davos switzerland lauren lyster reports on what new leaders and key finance years have in store for greece and other debt stricken countries. we've seen leaders not only from the euro zone but from other countries financial and political leaders also continuing to fight and to argue over the proper solutions for the eurozone crisis and at the center of it is a lot of people pushing for a larger bailout fund for a for a secure fire wall the irony is that as they're talking about this we hear from an

exclusive that reuters had a european source has reported that germany wants greece to hand over control of its fiscal budget as a condition for the next bailout package the sovereignty over its fiscal matters the further irony is that we've seen capitalism really be one of the topics one of the issues here at this davos questioning of capitalism in its current form is still serving the globe and we've seen klaus schwab the founder of the world economic forum want to have a meeting with him and be outspoken about the problems of inequality and in fact income inequality or inequality itself is identified by the world economic forum as the top risk for two thousand and twelve in past years it's been things like the decline of asset prices and in two thousand and twelve that's the top risk interesting language right it's not a problem that needs to be addressed it's not it's really you know making life so difficult for so many across the globe it's the risk. artie's lauren lyster

reporting for us there now online at r.t. dot com find out about those who headed for the world economic forum not one of the businesses. has hit three activists from the group stage a topless protest in davos against the economic elite also. this is what's greeting visitors at an all strolling the natural history museum but some of the kids clearly want their history a little less vivid we've got the great historic line. the official. pulled from the. video. feed with the palm of your.

comb. taking a look at other news from around the world of this hour. the nigerian army has shot dead the eleven suspected insurgents during a gunfight in the country's east it follows a warning from the supposed leader of the violent islamist sect that they will kill more security personnel and kidnap their family a week ago boko haram killed more than one hundred eighty people during a gun and bomb attack in the northern city of kano boko haram wants sharia law enforced throughout nigeria. at least twenty six people have been killed and injured in a fire which swept through a drug and alcohol rehab center in the capital of peru local media reports say more people died because patients were locked in their rooms unable to escape the cause of the fire is being investigated. a tourist has been killed

after a group of bedouin. opened fire while trying to rob a currency exchange in the egyptian resort of sharm el sheikh a german tourist and two locals were also wounded the shooting began after police arrived and tried to stop the thieves they escaped however with an unknown amount of money. divers have found the body of a woman aboard the sunken costa concordia cruise liner bringing the death toll now to seventeen sixteen people remain missing meanwhile operations to pump fuel from the tanks of the wrecked ship have been delayed because of bad weather the luxury cruise liner with over four thousand dollars board ran aground two weeks ago on reefs off the italian coast with the captain later being arrested. the ski slopes of sochi are in place for the next winter olympics now comes the task to make sure they meet world class standards the russian resort facilities are hosting their first skiers and organizers hope it's all downhill from here as dennis

blonsky explains. it's no weekend cold in the caucasus mountains but it's the hottest time for ski fans many like this couple even keen promus far as say bierria for the season's grand opening in sochi it's neat to see mrs now that. it's thirty snowing a month ago so much snow who wanted to ride so badly and now we had this chance. super this is also cool to a brand new resort just off the black sea coast with a number of plans to attract ski fans who might otherwise prefer a winter break in france or switzerland kilometers those tracks that will be able to compete with many european resorts it means six to ten thousand tourists will be able to ski here to show your work and seasonal warm weather left a few foreign destinations a little high and dry but then stuff here it was i who got to became snowed under with work as skiers sold new resorts just a little while and you. believed and everyone enjoyed.

very positive feedback this morning yes that's true. but they're also cudos biggest test is yet to come in february and march. two thousand and fourteen winter olympics it will mean more just will be strictly pissed but for now they're making the most of the snow the freedom and even the romance and the russian winter it's great if there is snow is so much that it was supposed to kiss and that's why i went down the hill so if you'll excuse me. but like. sochi. what a perfect way to end a day on the slopes well that's all for now i'll be back with the headlines in. a couple minutes. of.

wealthy british style. but i'm not surprised to find. markets why not come to. 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 our.

move. to. use. if. for.

the first. place.

in broadcasting live direct from our studios in central moscow this is our team down to. the arab league suspends its observer mission in syria citing the escalating violence damascus criticized the move for legend it is aimed at increasing pressure for foreign intervention and will also encourage more violence from armed groups. police used tear gas and flash grenades at a two thousand strong demonstration in oakland california after demonstrators tried

to take over a vacant building for their new headquarters. protesters in poland to found to continue fighting the international anti well piracy pact that they say bridges internet censorship under the guise of protecting property. and after two weeks of talks deadlock greece and its lenders could now be near a deal with them days that will reduce the country's debt. next because a report. this is the kaiser report yes. we have no obama today stacey i guess you're talking about the state of the banana republic let's look at some artwork here from zero heads this is william bonzai seven and he's talking about the state of the union it's the state of the banana of course some

artwork speaking in front of a cash congress and world's highest standard of living billboard as we know everybody keeps on talking about america as if it's the great hope you know that everything is going to recover there and we're all going to be saved and of course it doesn't recover. max. well we're going to move from bananas over on to apple live apple numbers are add and it's a blowout apple reported their first quarter earnings the very same day that obama was lying to the american public about the state of the economy and their revenue was forty six point three three billion versus thirty eight point seven six billion expected earnings per share was thirteen eighty seven versus ten dollars and seven cents expected i phone units sold thirty seven point zero four million versus the expected thirty point two million well yes this is amazing because they have one

hundred one hundred billion dollars in cash they have more cash than a lot of countries have their total g.d.p. and over four hundred fifty of the s. and p. five hundred have in total market capitalization but here's the thing they got rich by outsourcing jobs to china apple computer if they have those jobs onshore it would add something like sixty bucks per iphone to the current price of many hundreds of dollars it's almost insignificant but they refused to do it because they want to build this huge cash hoard for no apparent reason they don't pay a dividend they just sit on the cash so if they're going to just rip people off their jobs and they're not going to give them the means to buy the products that they themselves manufacture now most of the sales go outside of the u.s. then you have to give them something you just can't use the u.s. infrastructure greedily for your own purposes and give back nothing so the only thing they have a give back in my opinion would be shares in the company itself stock in the company in fact i phone sold for an average of six hundred sixty dollars which was

higher than analysts had expected as well so people are already willing to spend more on it so if it were a sixty five dollars more they're saying it would add cost of ten percent. a minor adjustment but if you calculate the new customers that would then be in a position of buy more i phones then it would be a creative they would actually make money. doing this it would be a way for them to make money but they're so frickin stupid apple computer that they don't seem to think that it makes any difference whether they just enfranchise millions of americans now in the state of the banana republic speech barack obama also mentioned this new buffett law that he wants to bring in that warren buffett shouldn't be paying a lot less tax than his secretary and also on the very day before i guess it was mitt romney released his tax returns from the previous year and sure enough he paid thirteen point nine percent honest twenty five million dollars in income now that brings me to this headline further about apple most of apple's eighty two billion

dollars cash stockpile is trapped overseas now of course this is only a few weeks ago and it was only eighty two billion dollars the cash pile now is ninety seven billion but fifty four billion of apple's overall eighty two billion in cash is an offshore accounts and apple cannot repatriate that money to the states unless it wants to pay a huge thirty five percent corporate tax on it but it's another stab in the back to americans not even paying the tax on this short and letting the benefits accrue to people outside of the united states but also it is a banana republic and only certain sectors have huge privilege private equity who extract the capital the wealth hollows out an economy they get taxed only thirteen point nine percent of their income apple which could potentially create enormous wealth in the u.s.

economy is taxed at thirty five percent and we all know when everybody says oh people are just jealous of the wealthy well they were throngs of people throwing themselves at the various apple shops and steve jobs a multibillion are died his company is taxed at thirty five percent on their earnings mitt romney is taxed at thirteen point nine percent so. there is that element to the banana republic right of course a turban of republic comes from the united fruit company which changed our name to chiquita after that such huge p.r. disaster of finding out that they were involved in the overthrow of governments in latin america and south america to further their ends and now you've got american oligarchs american banana republic leaders like barack obama or the leaders of apple computer doing the same thing that these other dictatorships are doing causing the same kind of economic distress and and they seem to then themselves after fruits for some reason whether it's a banana republic or an apple computer apple said they would return the money to

the united states if they were taxed at nine percent but did they threaten the people in congress like the people like hank paulson did when he got the sudden fifty billion tarp bailout threatening martial law no now let's turn from the state of the banana republic to the state of the stiff upper lip this is over in the united kingdom serving king no reason to despair so his report says britain is heading back into recession the governor of the bank of england urged against despair because all crises come to an end eventually he says he looks pretty miserable doesn't think he should talk like usually we're telling people don't despair you don't look like you're about to top yourself you tried to have a smile and put it like clown nose on really like a burning he's usually got the clown those and he's delivering that economic numbers irving kang has got that british kind of in the bag have blitzed on gin luck which is not fooling anybody and of course the u.k. economy is contracting why because the debt in the banking sector continues to

expand and nobody's doing anything about that mervyn king wake up as we compared apple to the banana wielding bankers in america. where the bankers have so much more power over government officials via their debt that you see this playing out here with mervyn king he's also pleading because all he has is desperate pleas to the banking sector the tragedy of the financial crisis is that those who have suffered most have been those who bear no responsibility for it the legitimacy of a market economy will inevitably be challenged if rewards go disproportionately to a small elite especially one which benefited from the support of taxpayers so he then goes on to plead with them please don't give yourself massive bonuses and rub it in to make our jobs more difficult but he has the means to rectify this problem simply by raising interest rates instead of engaging in quantitative easing which

is to lower interest rates you have in your ability to right this wrong mervyn king why are you pretending as though you are powerless you're sitting on the bank of england the premotor primo of central banks the progenitor of all central banks if you don't know what to do then either resign or in fact top yourself as it looks like you want to do max more importantly he can just stop buying their debt he keeps on engaging and quantitative easing he's like a freaking madman why don't you just stop giving them the money and stop. stop on the debt that you yourself issue stop it. you know it's like exactly like that movie psycho when norman bates starring in the into the mirror and he's trying to you know attack what turns out to be mere reflection of himself just as his mother this is mervyn king he's looking into the mirror dressed up like a woman like most british men like to do most of it's own and he's attacking

himself. so you yourself are the psycho mervyn king well let's look at the state of the actual british citizen u.k. family debts up by almost fifty percent in a year the typical debt owed by u.k. family has soared by forty eight percent since january two thousand and eleven as rising inflation has taken its toll on household incomes according to the latest of even a family finances report and max how is inflation caused. by printing money and buying your own debt mervyn king doing exactly who's doing. king the only hope he gives them with his gone faces despair one day i'll stop printing money i can't tell you when it's like a sprinter economics basically because he's trying to hold in the inflation but he can't seem to do a good job it is leaking out and stinking up the joint. that's just one step too far perhaps but it's

a good analogy that most people can relate to so research by the insurance company found that the typical u.k. family is seven thousand nine hundred forty four pounds and unsecured borrowing on credit cards loans overdraft and other forms of credit compared with just five thousand three hundred sixty pounds in january two thousand and eleven the figure represents thirty two percent of a typical net annual income and suggests families are falling further into debt as financial pressures grow because pam lees kank people who work in these families can't get jobs why because all the jobs that are not in finance have been squeezed out of the system due to mervyn king is artificially low interest rates that have rewarded speculators and push legitimate jobs out of the way so this is exactly what you don't want to see an economy that builds itself as being competitive there should be a competitiveness in the u.k. economy where people who want to work and have jobs doing stuff should not be squeezed out by the central bank which is making it possible for the cancer of

speculative bubble of comics to grow its way to the point of killing the host that is to say the u.k. economy which is clearly shrinking lanced a boil of speculators worming and you will stimulate the economy unless you yourself are the pos in the boil which i suspect that you are well again you know perhaps the british population shouldn't despair too much because things could be worse they could be american the caging of america there are now more people under correctional supervision and america more than six million that were in the gulag archipelago under stalin at its height. their america their third of american american want to know what about now look. like americans don't care that there are cages as long as they get cheap access to cable t.v. and a good rate on a mic not get. exactly if they're in

a banana republic i mean many monkeys went behind a cage as well and are fed bananas the accelerating rate of incarceration over the past few decades is just a startling as the sheer number it tripled since one thousand nine hundred eighty to seven hundred thirty one per one hundred thousand no other country even approaches that in the past two decades the money that states spend on prisons has risen at six times the rate of spending on higher education ours is bottom to top of course several state and who want the republicans as their presidential nominee none other than chief warden himself mitt romney of a private equity background bain capital whose job it is is to destroy the manufacturing economy in the real economy in favor of a financial eyes economy that crowds out all real jobs in favor of speculative bubbles and speculator gamble our kings that run the economy and as a result the incarceration population keeps going higher and higher and americans love to be incarcerated they hate their freedom they would prefer to be treated

like dogs in a cage and have some warden like mitt romney in charge and that's why we're going to vote for all right stacy ever don't go stay right there we'll be back right after this. well. it's technology innovations all the developments around russia we've got the future are covered. an exposure this is because a report we're back talking about the net and banana republics they see well max

speaking of bananas in my first headline here in the second half we have can a monkey pick a hedge fund they may match a typical fund of hedge funds in their research paper from some academics at their brussels free university in belgium and the geneva school of business administration in switzerland called assessing the performance of funds of hedge funds they studied abroad sample of one thousand three hundred funds of funds from one thousand nine hundred four through two thousand and nine and analyze just how much value they actually created their core finding when you strip out the fees just twenty two percent deliver any alpha or risk adjusted investment gains at all you know and none with any consistency over time they're almost all completely worthless and a fund of funds is particularly worthless because it's a concatenation it's a an aberration it's an abomination they're using people's money to invest in other

people's money invested in tertiary money invested by some guy in greenwich connecticut is probably john gunner's desk wishing he were mervyn king and never even looked at the market except for paul tudor jones they're all worthless and nearly half of all fund of hedge fund managers the academics report delivered negative after fees alpha one benchmark against the hedge fund indices and other words they couldn't even keep up with the index so this is a new term negative alpha negative alpha otherwise known as losing money because they then lost money but no that's why community needs a way to say it that makes it sound like they're intelligent about the way they lose their money so they say negative alpha but they are empowered in ways that are quite detrimental to the overall come. because you know in the greek debt situation the hedge fund community and their use of naked credit default swaps are forcing political change of austerity on a country using their incredible leverage because they have a trillion dollars in cash which they leverage up to fifty or sixty trillion dollars of poor greek greek economy is only

a couple hundred billion so these headphones gang up they collude they talk to each other again more illegal activity to pick on a country like greece that has no representational government that is nobody defending the country and they sell the bonds down to zero and they force austerity measures on a country with huge assets of those assets off one of the hands of people friendly to the headphones well exactly and those hedge funds are taking their case to the human rights court which is why we should just hand over all of the hedge fund activity to monkeys well you know the technology is becoming very sophisticated and you know there are injured do saying technology that allow for people to use brain waves to manipulate cursors on screens to surf the web using your mind and i would imagine that monkeys will soon be able to do this hire lawyers and defend themselves in court against slander by having hedge fund managers compare themselves to monkeys includes the monkeys are a lot more intelligent well remember in the first half of the show we were talking about mervyn king and he's so angst ridden about these bankers and their bonuses well here's a possible solution strippers.