in the years we basically had glass steagall which that's the wall street that existed for that period of time where banks were not allowed to do this proprietary trading and get involved in securities business so you know if we're inching back to ever so slightly in that direction we're certainly not reimposing the glass steagall by any means is that an emasculation i don't think so i mean if anything you see the growth in the proliferation of hedge funds and by the way a lot of these traders who were on prop desks at the major banks now moving over to hedge funds the same type of activity is going down and we see the explosion of high frequency trading which is making the markets crazy more like a casino than ever so i think it's really hard to argue i mean you might get it from some of the top big wigs of wall street who are good you know cry and a little bit about the loss of their propped but i mean if anything i think we're

just seeing a transformation of wall street there's more speculative activity than ever i mean i don't see this as a mask and i mean they're they're they're upset about one year that their bonuses are not going to be a record but come on i mean there's still out there in the rest of the economy there's still a lot of people suffering and if you don't think there's going to be there was some kind of backlash against what we saw and the huge bonuses and really ask your consent the question what does wall street contribute to the real economy i can think about and i'm not talking about traditional firms that raise capital and you know help to start up entrepreneurs i'm talking about all this speculation i mean for most people you know it that's translated into you know higher fuel costs higher food cause higher cost for pretty much everything and i think you could understand the public's displeasure with this and the reason that policy maybe shifted a little bit but i don't see it as. in

a mess and like you said it's this new normal where we're gauging things based on the worst of times not you know a broader look at things and there's this report too from the new york times that the f.c.c. actually has been giving waivers to all of these big big firms that committed fraud three hundred fifty intense as over the last decade but before we go because i just have a minute left i want to ask you about this ron paul story there's an analysis in bloomberg saying that he could be getting the clout he needs to within the republican party bring a lot more attention to the issue of the fed and possibly push for that bigger audit that he wanted or changing the fed's mandate from a dual mandate to you know just the one issue of price stability do you think that we could and should be looking at these measures from the fed while i have no problem with the of fed audit i mean we saw the fed basically handed out twenty nine trillion in low interest stories zero interest loans to the financial sector was that necessary we see the fed doing these massive multi hundred billion forex

swaps with. other foreign central banks i got no problem with that the elimination of the fed i think ron paul stands for that a little bit i don't think that's necessary i think it's good to have it is to to should which you know let's say he sets the interest rate on us of money but basically the fed and the treasury should switch roles i mean the treasury should be the one who credits bank accounts like the fed does now and the fed should be the one that is shoes to control the interest rate will set the interest rate where it wants i mean if we if the treasury in the bed or if they consolidated both under the treasury i think we'd have a much better system that's a really interesting idea i might have to bring you want to get if you'll come to talk about that more i also love to talk about zero percent money now you can restore excited we're out of time for now though thanks so much for being on the show that was mike norman chief economist at john thomas financial.

ok before we go dmitri is six so wish him well we can banter back and forth today we're shannon and the team but this gives me the opportunity to respond to some feedback which is great because on friday i tweeted one of my concerns about the job numbers that kind of started this firestorm so this is what i said about the jobs numbers i said anyone sharing the jobs numbers please tell me why i should be excited that over five point five million people forty two point nine percent of the unemployed have been out of work six months are more is gives me a pit in my stomach this part a conversation about what are the solutions to unemployment and more broadly the us economic problems dylan ratigan tweeted capitalism requires capital seven hundred

trillion dollars and dark credit insurance is our current market foundation start they're really good point we couldn't agree more hopefully we'll have them on the show soon to talk about that might tweak also spurred some people who disagreed with me vehemently and were very excited about the jobs numbers chad's missed said it was because it's a start and better than nine percent unemployment let's pull up not down robert ma she said it's clearly been a long time since you've been excited about anything provocative in a very boring way sorry to bore you mario and john johns made his point by tweeting to me hopefully you'll lose your job and hopefully you have nowhere to turn and you have to live off unemployment insurance then you'll see it differently wow i mean wanting someone to lose their job is a little bit of a harsh way to disagree with them but. of course if i was one of the people who had

gotten a job in this last month one of those two hundred forty three thousand i'm sure i would be very happy to have a pay check absolutely their plight is important but i sometimes think that the short sighted media analysis and market reaction to a good job report a bad job report month to month distracts us from the big picture and dealing with the structural issues which are still a major problem then i read author and financial advisor john posted on business insider and it summed up a lot of what i was trying to point out so i suggest you read it because it's good with a lot of things i can't just reciting here i had a lot of interesting things to say about the revisions of these monthly numbers for one of course the broader perspective is this in the numbers it takes about one hundred twenty five thousand new jobs to keep up with population growth each month that means we created roughly one hundred twenty thousand jobs that helped bring down the unemployment number the u.s. has created almost three million jobs in the last two years that means we only need

another seven million to get back to where we were in two thousand and seven. scares me i have to call it's going around then there's the issues of wages in income and getting at the kind of job creation we're seeing here post this chart pointing out take a look at it how real disposable personal income has gone the last since two thousand after rising in line with inflation for a very long time so disposable income look at that it's below the rise in the c.p.i. and inflation also points out government transfer payments have been an increasing share of disposable income since the beginning of two thousand and eight and then there's the b.l.s. occupational projections through twenty twenty five job titles with the biggest projected increases in numerical terms let's see them registered nurses retail sales persons home health aides personal care aides and office clerks of those the first requires no more than an associate's degree the last a high school diploma

and the middle three less than high school of the top twenty occupations just five require an associate's degree or more so there's a little food for thought before you go into debt for a college education for one but all of this should be a lot of food for thought when we talk about jobs numbers we believe that was the point of my tweet i hope now you don't hope i lose my job. i hope i don't anyway moving on there is a youtube channel dedicated to i guess going after peter schiff the name is a pun that i can't say on t.v. but i'm sure you can guess it peter schiff they've been positive towards us before here's an example recently they put up one of our video saying lauren lyster teaches economic whatever peter schiff the word of the day deflation but then they posted a video talking about how we're. saying we're pushing austrian economics as the solution to the problems anyway i don't know exactly what they said because we responded and we actually invited them on the show to tell us you know what their

problem is to talk about it with them and they took down the video there's the e-mail saying they took it down and also evidently their objective is not to attack our team but actually they invest funds looks like in alternative media they see it as an opportunity so that's a little time to think about but we want to clarify for anyone who thinks as they think we're not austrians on our show we have austrians keynesians people who subscribe to m. and t. as mike norman does that deflationists we don't endorse a specific ideology we do endorse alternative thought and i just want to leave you with that oh no this kind of funny segment we did oh excuse me i can't go to that we have no time we're going to leave you with that thank you so much for tuning in and i'm sure i'll be able to give you more of that viewer feedback later in the week in the meantime feel free to follow me on twitter at lauren lyster give us feedback on the show a you tube dot com slash capital account you can see that we take it all very seriously and if we don't respond you on the show you can often see our producers

responding right there on the board so stay tuned this week we have a great lineup nomi prins is going to be on tomorrow i'm sure we're going to talk more wall street and in the meantime from everyone here at capital account have a great night. culture is the same of g.r. can tell by the lottery winner so close all. the full service of national terminations and sovereignty this is what many scots say they want realistic is an independent scotland would appeal for. me eve.

download the official t. up location show on the phone all i pod touch from the queue stops to. life on the go. video on demand parties mine gold costs and says feeds now in the palm of your. question on the dot com.

gold. so you are tearing down the tent of dreams occupy d.c. protesters wake up to get another police crackdown so as authorities reach the last occupy stronghold is this the end of the movement as we know it. and police aren't the only ones changing the rules of the game the u.s. and european union have switched their playbook playbook to a full court press on iran with harsh words and even more harsh sanctions planned so does this mean game on. the united states is discussed there a couple members of this council continue to prevent us from fulfilling our sole

purpose here and speaking of harsh words and bosler susan rice gave a tongue lashing to the u.n. security council this weekend after a failed u.n. vote but it appears you can't bully countries into action against syria over you the latest from this political divide. it's monday february sixth five pm in washington d.c. my name is christine for sound and you're watching our team. well we've been reporting on the dismantling of occupy wall street occupations from around the country for months now but all the while the one right here in washington d.c. has remained standing at is until now.

over the weekend police in riot and hazmat gear showed up in macpherson square and cleared many of the tents there an effort to begin enforcing a longstanding no camping ban this came nearly a week after issuing eviction notices to the occupiers there the national park police have maintained a pretty good relationship with campers both macpherson square and freedom plaza complaints about noise and rodents were prevalent and early last week park police said they'd be getting involved after more than four months of allowing the camp to stand now as we said this was one of the movement's last sites in the country and we want to talk today about what's next for the movement and also here a little bit more about what exactly happened over the weekend and for that i want to turn now to occupy d.c. organizer sam jeweler sam you were there i guess to tell us a little bit about and we should mention you've been there for the last four months so kind of walk us through what went on especially in the last forty eight hours so basically they showed up at four thirty in the morning on saturday with about

twenty cops on horses then a helicopter flying overhead they had about fifty more cops and right gear it was an excessively forceful way to address our dissent and really i see it as the government doesn't want to talk about these issues of inequality and the loss of the american dream they just want to quiet it they want to stay out of the park they want us out of the public eye and they really don't want to address these issues so all day they are hitting people with the tons having people with their shields we have one person who is arrested who has a fractured skull fractured vertebrae a broken arm. and we have many more people who are head over the head and all we're trying to do is. i could buy a public park to bring attention to some really serious issues that almost everyone in this country is suffering from now we've been showing pictures that one of our web team writers that works here at r t that he shot over the weekend but you were there talk a little bit about exactly i mean you said there were a few people hurt to talk a little bit about sort of what was going through your head and what you were

witnessing happen i really never felt so much personal pain and an anger in my life . i mean this is a community that we've built up over four months like these people that you're seeing in these videos are like family to me and it was just such a beautiful space especially over the last week when we when people thought that we were going to be kicked out a lot of more people were coming down to the park and getting involved we had people coming every night from congressional staffers to people coming out of bars just coming to the park and wanting to talk about issues with us and that's really what it's for and. the police came in and they they really didn't care about whether they hurt people or not they're arresting people left and right for just being in a park they're throwing away people's personal belongings throwing away tents that they said would comply if they had no bedding in them they broke their own promise and threw them away and we're showing pictures right now of the tent of dreams that was up talk a little bit about the significance about that has not been up the whole time that only went out after those eviction notices were issued at the beginning of last

week right so we put up the type of dreams kind of as a symbol of. we should be able to sleep in this park because we have a dream for this country like martin luther king in a dream and it touches on the american dream which is that if you work hard you should be able to have success but right now social mobility which is the measure of the american dream is at an all time low people are working hard they're going to college like they were told to do they were promised that when they got out of college would be a job and most of the time now there isn't and the average student graduating from college now is twenty five thousand dollars in debt the average student twenty five thought. so it's no longer that you come out of college and you start with nothing you actually start in the negative it's a big hole to try to crawl out from i think it's interesting how you were saying that the this movement and this occupation in particular and the fact that it's in d.c. i mean it's a few blocks from our studios it's also just a few blocks from the white house so you were saying you had actual congressional staffers coming down to talk with you guys and you know the whole sort of variety

of people that is in d.c. that they would just stop by for that reason to me it sounds like the occupation having the tents there having people there twenty four seven has served as sort of a marketplace of ideas a place to come and discuss things so what happens now that the camp has been dismantled you know it's a good question i think the movement is going to look a little different in d.c. you know we still have our in photon in the park we still have our library with over a thousand books people are free to come and. bring back whenever they want so it's still going to be a think of marketplace of ideas people will be sleeping there but we will have a constant presence i think the important thing to realize is that this movement is not just about the people sleeping in the park this is about you sitting at home watching this on t.v. if you think government isn't serving you the way it should be maybe the way it used to be you're part of this movement to so everyone has something to offer and this movement has to be about more than just one hundred people sleeping in

a park because everyone is having problems these days is. everyone needs to do something about it even the smallest thing well it seems to me is and i mean since you've been there over the last four months you've said you sort of built up friendships. and i've heard more and more especially over the last few weeks that the occupation aspect of this is just one strategy it's not the only aspect of occupy wall street what have you guys talked about in terms of i mean you knew this day would come it certainly came a lot later than most people thought it would here in d.c. but when you look at oakland today they're they're doing you know showing solidarity with those who've been arrested marching to the courthouse there's actions i know planned for new york. what is next in terms of an actual strategy to keep this movement alive now that the tent is not the tent camp is not alive anymore but i think it's going to be more of a dispersed strategy people working with different groups around the city on different issues so we have occupy our homes which is people helping to prevent foreclosures because foreclosure is

a huge problem in this country companies and banks making a profit off of kicking you out of your house so that's a big thing that we are starting to work on is helping people block their homes from being foreclosed we also have a general assembly is being organized around the city so i think there's one being planned for mount pleasant which would be people coming together who are from that community who have grievances with the government and they're going to get together and talk about what to do just real quick so i mean what do you say to those people who are looking at this the critics of your movement the critics of our eye wall street you say finally the last big one is down we don't want to hear from these dirty hippie occupiers or i mean what do you say to those people you're going to hear from us a lot more this is far from over in fact we had more people coming and getting involved once they saw first the dreams go up and then once they saw the brutality that was inflicted on us by the police so it's been so are getting bigger there are so many problems to tackle and everyone knows it so all right occupy d.c.

organizer sam jeweler we appreciate you coming in sharing your experiences with us thanks for having me here in our thanks also ahead on r.t. if you thought tensions with iran had reached a boiling point you ain't seen nothing yet coming up we'll tell you about the u.s. and e.u. his latest attempt to cripple iran's economy. r t is the state running an english speaking russian channel it's kind of like al-jazeera. russia today has an extremely confrontational stance when it comes to us. just put a picture of me when i was like you know years old and that she told the truth.

i am a total get of friends that i love driving. and pretty. much it was kind of yesterday. i'm very aware of the world with its place. there are mounting global time tensions between iran and the west as president obama is trying to hit iran where it hurts in the pocketbook he signed an executive order today freezing all assets of the iranian government and banks held in the united states and the white house says this is in response to what they say are deceptive practice practices on the part of iranian banks but it's being seen by many as an attempt to further isolate iran as criticism against iran's nuclear

program continues to mount as well israel also stepping up threats against iran and u.s. defense secretary leon panetta has warned that israel could attack iran possibly within the next ninety days president obama says the goal is to resolve this diplomatically but much of the rhetoric by high ranking officials in several countries seems to point to at least some preparation for the possibility of war i spoke about earlier about iran with the director of international studies at trinity college b.j. person he explained how the atlantic world has already waged war on iran in three different fronts diplomatic economic and covert take a listen. well the diplomatic one is very easy to explore because since the early two thousand the united states to strike to create the diplomatic web around iran the centerpiece of bad weather was india and india and iran have a very long standing relationship and what the united states did was to promise

india in nuclear deal or not that india is not a signatory to the nuclear nonproliferation treaty india in one hundred ninety eight illegally exploded five nuclear devices and yet the united states went to india in the early two thousand and said we will bring you out of the the nuclear sanctions accord and we would provide for you access to nuclear materials from the nuclear supplies group if you vote against iran in the two thousand and five meeting of the international atomic energy agency and this is precisely what happened in nuclear deal was struck with india india came out of the nuclear chord and even though it's not a signatory to the nuclear nonproliferation treaty which iran is india voted against iran in the eye meetings twice on the side of the united states so that was

the diplomatic war that the united states has been conducting since the early two thousand oh one war is rather striking because very few people are talking about the assassinations of iranian scientists or senior scientists killed in the last two and a half years most recently on january eleventh it's hard to do it or old nuclear physicist was just was killed on the streets of tehran in broad daylight this is striking because the u.n. did release a very definite statement the nonaligned movement has released a statement condemning the assassination of a scientist but there's been no word from the. followers condemning this act of terrorism in the streets of tehran and according to my sources scientists in iran are now fearful of going outside conducting the everyday business after all one of the scientists was shot sitting in his car waiting to pick up his daughter from a daycare center that means ordinary activities have become very fine decided that

this is a violation of the right to freedom of movement is over intellectuals in iran today it's certainly there we heard very little too you know in terms of an investigation into that and there's a lot of speculation about who might be behind that i want to talk to though about just what we've seen very recently over the last few days these increased sanctions i know we also saw dispute between the i.a.e.a. the international atomic energy agency the inspectors and the iranian government basically those inspectors actually left the country after apparently not being allowed to examine certain elements of the nuclear program and of course we've also seen today the executive order signed by president obama to talk a little bit about these very recent events and what you think is most significant here well there are two things one is the economic sanctions on december thirty first the obama administration signed in

a series of very tough economic sanctions sanctioning the central bank making it difficult for third party countries to do trades with iran the european union joined the united states you'd say actions which are to come into effect on june twenty ninth the upshot of this has been the three countries china turkey and india very terrified because forty five percent of iranian oil is bordered by china india and turkey the chinese and indians have already promised the iranians to circumvent the dollar and to pay for your our new noise using our the gold or a third party. currency perhaps the rupee or perhaps the yuan currently india uses turkish banks you know to do its trade with iran there's a lot of pressure on the turkish banks to not allow india to do these trades there's a lot of pressure on these countries economically the riyadh the main currency in iran has lost its value by seventy percent you know it's

a very dramatic thing for dairy people conditions of life are not good on the question of the nuclear debate between the eye inspectors and the iranian government if one looks broadly at questions of inspections there is always in normal confronted asian between. any foreign and investigators and a sovereign country that is not something spectacular one should not make too much of of the fact that they're having a dispute and we should mention here that they're planning to return a little later this month to the kind of continuing this discussion of a day on the money aspect of this it's not just freezing iran's our assets here from what i understand this is the u.s. also sort of showing their willingness to punish other foreign financial institutions that do business with iran and the dangers in this well you know remember this is not are you an authorized sanctions regime so countries are not

there for an under any obligation to follow what are essentially european and american sanctions you know so there's no legal you know an issue and for india or china to so-called break the american sanctions what the united states is pressuring these countries on is if they continue to do trades with iran the united states you understand for its trades would say india oh it's trade with china the issue is the united states is not currently in a position to punish china so this is a lot of smoke in the water you know that is being put out that the chinese. these are playing this very close to their chest they have been meeting they knew as they've been discussing things with the turks to see if they can create so good exemptions to the american sanctions so one should not come to this question of sanctions believing that the united states here is the biggest dog at the table.