as you say have put their cases to the panel of seven judges that are sitting on this case in the supreme court and this hasn't been about whether julian assange committed the sexual assault that is the sexual assault that is alleged that he committed by the swedish prosecutor this is being about the nitty gritty of how the legal system works as far as it pertains to the european arrest warrant and whether in fact the weren't that has been issues to extradite julian assange was valid just told associates team to say that the only people who can issue a european arrest warrant are judges who are impartial and independent where is this warrant was issued by the swedish prosecutor who is party to this case on the other hand the swedish prosecutor's team have been arguing that the european arrest warrant which the u.k. has of course signed up to can be issued by both judges and prosecutors it has to be that the jury in the cool of today particularly the judges appeared to have a little bit more time for

a soldier's team's case and when it came to what the swedish prosecutor was saying they questioned a bit more they got a bit more and see and they were seem to have a little bit less patience for it where is diana raised by julian assange she might have to raise a bit of laughter and it seems like a bit of a lawyer proceeding but it will have to see how it pans out when the verdict comes down but if the court decides against assad is there any other way that he can actually fight his case or is this his real last chance. well at this as i've been saying this is the last chance saloon for julian assange and in this country this of course is the supreme court is the highest court in the land has come up through other courts including race recently through the high court he's made it here if he wins here hill be set free everything you know all be forgotten kind of thing but if he does lose here then there is a chance that he could take this to the european court of human rights in strasbourg that's by no means a given but i mean he's always said that he would do that if he did lose in this country so we'll have to. see what he decides to do of course he's always

maintained that the charges are politically motivated so he will probably see if the european court of human rights is the place where he should be he says that it's in connection with his work the wiki leaks of course released that huge cache of previously secret documents which embarrassed governments including the us government and also many international businesses but his greatest fear of course is that he would be extradited first to sweden and then once in sweden the swedes would find a way to get him to go to america where he would face all sorts of. serious charges like treason and there are lots of people in the us who don't think he's he's a nice character asked all but it will be number of weeks as i say before we find out the verdict and then you know possibly on to the european court of human rights possibly you know possibly possibly not we'll have to see those men thanks very much indeed for that live update there in london iran's nuclear ambitions on the euro zone's debt struggles top the german chancellor as agenda on her trip to china

and the merkel is calling on beijing the biggest part of the rain or not to buy more. in fargo and to use its influence to persuade to run to abandon any possible atomic weapons ambitions she also wants to offer reassurance that investing in the eurozone is still a safe bet political analyst christophe ha still believes getting support for germany's economy is the main reason for the trip over. our chancellor on a triple begging she wants money for europe she wants you know the support from beijing for the new un resolution which beijing is not going to give and she also wants beijing to cut off its own oil supply which is why it's not going to do and of course beijing has also to take into consideration that india competition in the region is standing straight with iran and buying ever more rain in oil so i don't. think she has any chance of you know talking china out of buying

uranium oil or that were not happen again i would say she will not put any much focus on it she will she will say that she will look to the ceiling and then she was smile and say let's talk business now her main focus in this trip is german economy and she's wise to do that she will even not you know a lot be very much for chinese investment into europe because she knows in our heart of hearts that this is truly a bad investment. for more analysis on the chances visit china is available on our website don't call me. on line mother. fighters inside japan's crippled fukushima nuclear plant despite warnings made months ago that exactly this could have. praised a spontaneous protest that started on twitter the arab revolution this may actually have taken a decade and expertise to prepare the millions of dollars to fund the story along

with many others available on the web site. www dot com. police have reportedly fired tear gas at a group of protesters in cairo and there we bring you live pictures from the egyptian capital at the moment people gathering that the interior ministry they've been running against the way security services handled a riot at a football match on wednesday which saw more than seventy fans rushed onto the field in the seaside city. after the home team beat egypt's top clubs setting off clashes and a stampede foreign affairs analyst richard j. daryn thinks it's an indication of post revolution instability. violence. was also. concerned the first. spark of. forces in the u.s. men were there witnesses. in order to avoid the

violence from yesterday. we. saw more than. that. in some ways the violence. of the. emergence of. most. of the work arounds. twenty four and nearly half minutes past the hour here in the russian capital dimitris next with the business nice. warm welcome to business our team a radical improvement in the business climate will be the urgent task of the next administration if and wins the presidency in march speaking at the troika dialogue forum in moscow the prime minister said the country needs to jump from one hundred

twenty of twenty of place and terms of its investment climate business r.t. as many in the course reports. it sounded like a school reports of a bright student but more excel bad must try harder not to be abuse and highlighted once again that russia has a lot of potential but it's failing to get their results he said most attendance studies place the country in the top five in terms of its potential to suggest more investment but in reality it's investment from the places russia in the one hundred and twenty of position something he called a shameful that he said that russia should become the psychologically of the facts and not only when the comes to the pension he said others see a different culture over business consumption and investment and as an example you mentioned creating an energy revolution which would be followed by a drop in oil prices and other hydrocarbons and one of the other changes to promises is setup and that's men who would be responsible to protect the rights of

all on super in the wars not just foreign investors and he couldn't help but mention the situation that is on rattling around the world and how it's affecting the country he's complained that excessive government that in the us and europe poses a real threat to the global economy particularly for the major exporters in the emerging markets and europe that by saying that the next ten years would see a transformation of the global economy and would see the emergence of new financial centers and goes up to miss that that russia would be part of those. the russian government is ready to buy back shares in the country's second largest bank d.t.b. from minority shareholders who purchased the stock during an i.p.o. in two thousand and seven the government adds that it will do its best to ensure investors do not make a loss now the list price for the shares was first seen point six copecks they're currently trading at around seven the head of the tb estimates the cost of the buyback. there are around one hundred fifteen thousand minority shareholders in the

t.v. bank in order to believe that shares of around one hundred to one hundred ten thousand minority shareholders will need some fifteen to eighteen billion rubles and push. the russian markets are up at the close of. the third consecutive session of games with the r.t.s. my sex by far around one percent let's take a look at some of the moves on the financial stocks in the spotlight while the burbank fell slightly be gained under one point three percent one point two to be exact after prime minister putin said the buy back from minority shareholders is possible lukoil was up at the close of spite while being slightly in the company shed light is preparing for a listing in hong kong. and in other news the world's largest publicly traded commodity supplier glencore is in merger talks with another mining giant xstrata listed in london glencore already holds thirty four percent of xstrata which is

valued at thirty five billion dollars if the tie up goes smoothly the combined company will have a capitalization of about eighteen billion dollars and would be the third largest mining company in the world. so from the business team for now but the headlines are next to stay with us.

the closer team has been to the hub bar of. the country's middle starts its way across the ocean. now our team goes to the area. looking to a different character to represent itself. for local businesses are striving to build the aviation capital of russia. the four by fours are made and should be tested to the limit. welcome to the streets of. russia close up. you know sometimes you see a story. you think you understand it and then you glimpse something else you hear sees some other part of it and realize everything you thought. i'm tom harpur welcome to the big picture.

from moscow with the twenty four stories now a spy. the father of a former f.s.b. officer poisoned in london six years ago says he was mistaken when he was not in a position of being responsible for his son's death he gets a story first hand from. father. the u.n. reportedly considers a new draft resolution on syria which no longer calls for president assad to step down. in criticism from russia it's also about you to have references about of all music bloggers removed from the text. and the german leader takes her you wrote

that she tries to convince china not to write all that. i'm going to. beijing support for an oil embargo again if you. talk about with more on those stories another update for in half an hour from now in the meantime capital account where we look at the whole stories behind the republican party primaries that's next week on r.t. . good afternoon and welcome to capital account i'm lauren lyster here in washington d.c. mitt romney won the republican florida primaries last night not only did he when he developed magical powers without raising taxes i will finally get america to a balanced budget. while he's away third week han have it all that's amazing does anyone actually believe what these guys say anymore when the economy is such a disaster we have

a better idea than just accepting this i'll tell you what it is and as for us president barack obama he has been drawing up plans for an economic house built not of cars but of steel. tonight i want to speak about how we move forward and way out of view print for an economy that's built to last an economy built on american manufacturing. feels a little bit like a pipe dream economist dean baker says the missing piece is a competitive dollar but if that means devaluing the greenback just who benefits from that wealth transfer and who loses it and with not just manufacture and snow globes but there are indian logistics made in china too how can we be sure a single job would come back to the us any time soon dr baker will be here to answer that and save the world unite joe why isn't all a business insider has a message for you enough whining over lousy interest rates it sucks for everyone in

the us right now so deal with it really joe wall street speculated with the nation savings during the boom and now during the bust savers and retire really shouldn't even have the dignity of earning a real return on their hard earned labor will go head to head let's get to today's capital account. all right we have dean baker in studio today but first i have to get this off of my chest because u.s. republican presidential candidate mitt romney won the primary last night in florida reportedly restoring his status as the front runner but here is my favorite line from his victory speech president obama wants to grow government and going to draw

mass trillion dollar deficits i will not just slow the growth of government i will cut the spending of government i will not just freeze government share of the total economy i will reduce it and without raising taxes our will finally get america to a balanced budget. why how that is amazing that is so fantastic that he's going to be able to do that especially considering the cvo says deficits will remain in the one trillion dollar range for the next several years if bush era tax cuts slated to and expire in december are extended which is what's commonly assumed this is not to mention the government's projections are typically pretty rosy and you know it's really reminds me of someone else we've known them over mine probably most of the. that we are going to have to pay back thirty thousand dollars for every man woman and child that's irresponsible it's unpatriotic.

only under that guy we've seen the debt rise by more than four trillion dollars that's after bush added on five trillion dollars now we've been talking about some way to hold politicians accountable like performance based pay if you fail to do what you say you don't get to run for reelection it shouldn't pay to lie is kind of our point it should pay to do what you say you're going to do or be punished otherwise now my guest yesterday said oh it sounds great but come on lauren that's not very realistic so here's another idea we've been talking about how out of touch leaders seem this is been my latest rant since davos out of touch from a lot of the problems that they're legislating problems that affect people very severely during these tough economic times so this is what i want if you're an elected official you need to at least prove you have tried to understand the possible consequences of what you are voting or not voting for you want to say send

kids to war in iran or wherever fine but you better have served or have a kid who's served or if not you spend a weekend with a grieving family who was just lost their daughter or son and i'm talking real time not some you know award ceremony you want to keep spending and spending and ignore the feds printing fine but you better endure some kind of i don't know virtual reality that takes you to why m.r. germany to understand hyper inflation ok germany still resists easy money and when you look at their history you can see why the last time they let the printing presses roll and roll and roll they ended up with three billion mark bread and ultimately hitler if you want to impose austerity in greece or italy you go spend time with those protesting it you want to use occupy wall street to either criticize class warfare or talk about the problems of inequality fine but you better go spend some time there and actually understand the activists i want to see you want to tent and this goes for bankers too because we know unfortunately. how

influential they are in u.s. politics economist an historian niall ferguson talks about when he speaks to groups and financial services how shocked he is by their lack of knowledge of monetary history and the great depression saying the only history they know seems to be the history of their careers so monetary history of the us rehat niall ferguson says so too and take that knowledge to hearings on capitol hill or the boardroom or to davos so that is my rant let's stick to money though let's talk about the dollar u.s. president barack obama is talking about a plan to bring back manufacturing to the u.s. you know it's been going overseas for forty years a coniston co-director of the center of economic and policy research dean baker says his plans got a missing piece here to talk about what it is he has here and i bet he's read monetary history of the u.s. how do you see here our guy then all right so first i'm sure you're going to want to challenge me on the deficit so i'll just give you the opportunity to do my wrong

well you're wrong because if we didn't run the deficits that obama around we'd have much higher unemployment i really can't imagine when the right man would want that so hard very good you're on the deficits you should run bigger ones and the whole point was he walked into the middle of an economic collapse and the deficit in a certain sport the economy because the private sector was going to do it so hard time criticizing him for that one ok but if the private sector isn't spending why aren't they spending isn't that because they want to stay nable growth no there and spend because they don't see demand it's very simple if you have a factory you increase spending you start hiring people and you see demand with the demands out there you don't do it it's very simple but the government can stimulate the economy but how do you know that that's a good growth there's a difference between good growth and bad growth all you have to do is look at the mortgage boom and the crisis a boom that was propped up by the government to see the cost of bad growth first of the boom it wasn't propped up by the government the people making money hand over fist where the wall street investment banks but secondly in this case there's literally nothing so it's not a question good growth or bad growth it's a question you want no growth you want a lot of people unemployed or do you want something governments doing you know the

government could do better or worse. things ideally you do things like spending on infrastructure spending education make us wealthy in the future but the alternative is simply having more people employed why on earth would anyone want that well let's talk about how to bring some of those jobs back because obama has a plan for manufacturing and you say the problem with that is he lacks touching on the key point in your view i believe which is the competitiveness of the u.s. dollar you think the dollar is overvalued so why is that exactly what basically what determines relative price of imports and domestically produced goods is the value of the dollar and the dollar should be falling we have a large trade deficit and this is exactly what's supposed to happen supply and demand large trade deficit supposed to mean a decline in the value of the dollar that makes imports more expensive for us the united states will buy less of them it makes our goods cheaper for people elsewhere in the world so they'll buy more of them that hasn't been happening because in many countries china being the most important but many countries have been deliberately buying up dollars in order to keep the dollar has to stop so president obama has to

put that front and center his other measures you know they're generally good ideas you know let's have more training let's have good infrastructures lots of things there make sense hard to argue with but that won't amount to a hill of beans compared to a dollar that might be overvalued by twenty twenty five percent how do you decide what is the right value of the dollar and who gets to decide that it doesn't matter what the right value is it's too high now whether we get the exact right value who cares we're never going to be exact right value the point is it's clearly too high and we can see that because we have a boy a large trade deficit sort of like you know it's just the supply and demand service is really can you kind of want to want all the brands to run out of the store well maybe should raise the price well i'm glad of the economy one hundred one because i'm not an economist so that's a battle that well i'm mad i am a financial journalist that when the question becomes for me who benefits from that wealth transfer if you devalue the dollar you'd have a lot of workers in the u.s. would benefit because suddenly they would have jobs wouldn't have been previously have jobs pretty good to me oh ok well let's back up a second ok so to devalue the dollar when you going to do it again print a lot of money or you could i mean you could you could. perhaps persuade china to

stop buying dollars if they were to be insistent saying no we're going to keep doing it you could play a little game with them and go away you want to buy dollars will buy one and see who loses that one they would lose because they're paying too much for the dollars ok but but right now during these times wouldn't we expand the money supply wouldn't the fed stimulate the economy and print money and order to devalue the dollar well it could if you didn't get cooperation from china yeah that would be an option so then who benefits from that because we're going to feature would be more competitive it will improve as wall street benefits from wall street be very unhappy wall street wants the high dollar because their money goes further in china and they fear inflation like anything so wall street be very unhappy with it which is probably why we're not doing it right now but when the high dollar mean high interest rates which why would wall street want that they're broke they're using these low interest rates to roll over the debt in the credit markets to finance their speculation road typically typically high dollars more from associate with higher interest rates so they generally don't want lower interest rates we have lower interest rates now to spur the economy and again i can't see why anyone would

want higher interest rates but who is benefiting from those low interest rates right now well we're seeing a lot of people refinancing their homes they're benefiting we're having more demand in the economy more jobs so workers are benefiting so yes so in general it's a good policy but i mean unemployment is still so high you know behind wall street yet but we've seen wall street take on a cash zero percent all this easy money market at the fed we've seen reserves go up we've seen and then take this money and speculate and chase yield where we haven't seen the kind of returns and then into the housing market or unemployment that you would want their name where they can make money in a high interest rate environment to that's not the issue is so it's really not that you can find lots of ways for them to make money again they're when they're thinking about the dollar overseas they want to high dollar because that means their money goes much further and most of all they fear inflation so printing a lot of money i mean we don't see much inflation but you know if you're concerned first and foremost about inflation you'd rather have a sprint less money and in fact if you look at the federal reserve board representative the banks who sit on the fed been very opposed to the expansionary

monetary policy. let me ask you this then mr baker dr baker respectfully how can you be sure that to be. well fine then you really open up the floodgates no i'm just kidding but ok we've seen great reporting on on for example how why i phones are manufactured in china and it's not just because of cheap labor it's because over forty years manufacturing has gone overseas and with it has gone logistics are indeed all of the support over a lot of it for manufacturing so how can you be sure that just affecting the value of the dollar would bring jobs back anytime soon it would not bring back would stop them from flowing over there we continue to see a flow of jobs to china and other countries we're not going to bring them all back just by lowering the dollar the point is it's a really big foot in the door we eventually want to rebuild a lot of those the just stick systems we still have them with autos i mean this is one of the great victories you know of the. things wrong but want did right bailed out the auto industry and its result of that we don't just have g.m.

and chrysler sitting there that would otherwise be bankrupt we have a whole network of suppliers we need more of that but you have to start somewhere it's sort of like if you're trying to plant a garden well you need water you need soil if you don't have that you don't have a garden but you also need see you do it take time for the plants to grow but you got to have the ingredients in a lower dollar is really key part of that story ok let me ask about the other maybe ingredients in the mix we heard the c.e.o. of cisco which cisco is a company that has forty three billion dollars parked overseas he says no way is he going to bring that back with the rate that foreign earnings are profits are taxed at he says it's easier right now to do business in canada the u.k. russia china india that it is in the united states so how would you get companies to bring any business back here without dealing with issues like that but he's lobbying for tax cuts of course he's going to say that the labor costs are far and away more important than the tax treatment and obviously he maybe doesn't know it but he still has a lot of business in the united states so someone should tell him that he should

ask himself why they're there the tax treatment. such that it makes them profitable to be here having a huge effect on the growth of prices and they're always going to obviously they always complain they want you'd rather pay less taxes of course if you could post story there you know lower my taxes or you know never open another factor in the u.s. but one way to say that i hear you there that's a fair point really quickly before we go what happens if you're wrong dr baker if you do all this you devalue the dollar and the jobs don't come back what's the consequence start to see anything really bad from that you know you know so just to push it down further i mean at some point you know we're going to stop buying imports or we're going to buy domestically produced goods at some point we'll have to say about that i really appreciate you being on the show it's always such a pleasure to talk to you and i can't wait to see you friday night debate jeffrey tucker i will be there going to be debating him in washington will have him on the show friday to be defending the fed will be honest here it was me and i was very railing against it thanks for being on the show and that was dean baker he is an economist he is also a co-director at the center for economic policy research. and still ahead joe

weisenthal thinks savers and retirees should quit whining about lousy interest rates he and capital accounts dimitri kofi anan will battle it out but first your closing market numbers. technology innovation all the developments around russia we've got the future are

covered. welcome back capital account viewers our friend joe weisenthal a business insider has a message for you let's look at it he says dear savers and retiree's stop whining about those lousy rates are getting from the bank he goes on he says sorry but it's time we took on one of the most sacred cow demographics in the world savers specifically we're going to address the people who whine about how they're getting such paltry rates on their savings accounts including c.d.'s you hear all the time bernanke is zero interest rate policy is school ruling over savers and retiree's bernanke is even screwing over your grandma well you sure do hear all the time especially if you're watching the show.