here in tempe with top stories now the u.n. security council is part of statement calling for a cease fire in syria and the opening of humanitarian corridors moving door says a peace plan by u.n. arab league special envoy to syria kofi annan negotiated in person with president the. french police are still laying siege at the home of a man suspected of killing seven people earlier this month in the city of toulouse france his top prosecutor says the government may surrender tonight. the morning as the oil shortages will lead to skyrocketing prices of tensions in the middle east

put iranian crude supplies in jeopardy threatening to destabilize the world economy . to project there for the moment i'll be back with more news stories in half an hour from now in the meantime we have to washington for some economic insight from northern mystic capital account is next. good afternoon and welcome to capital account i'm lauren lyster here in washington d.c. these are your headlines for march twentieth two thousand and twelve the g.o.p. is out with a new budget for the u.s. can you see what's missing from this picture there is something really glaring missing from those assumptions it affects the entire world you could argue well you know if you can't figure it out we'll break through the p.r. and more of the wall the establishment is trying to pull over your eyes from m.f. global to the jobs act to the mortgage settlements and ben bernanke he started his

college lecture series today what is he trying to achieve exactly. we're going to talk to you. the most urgent thing that is on our mind what we suspect is the most urgent thing on the minds of those who will connect with us. in that vein is he indoctrinating america's college students trying to initiate them into the cult of support for the fed attempting to set the narrative and right history will discuss and we have the evidence that perhaps goldman sachs bankers and muppets are some different after all. star so much. today the muppets as in the ones you just saw a received a star on the hollywood walk of fame much better treatment you could say than the real life was goldman sachs according to greg smith's op ed and goldman alum who have come forward about the firm's muffet customers will give you the round up of

them as a new round of staff cuts it goldman are god's latest work let's get to today's capital account. as you heard me say federal reserve chairman ben bernanke he began his college lecture series today he spoke to undergraduate students at george washington university right here in d.c. becoming the first chairman ever to help teach a college course now eighty students apply wrote as phase really wanted to be a part of this to become indoctrinated and why the federal reserve is important i would argue let's highlight a few of his powerpoint lessons since we listened and watched his lecture

attentively so here's where he is talking about the fed being the lender of last resort he says the qualities there are that they lend freely against good assets at a penalty rate to discourage excessive use honey ok so that's what he told those students that's funny though because we thought the federal reserve has done anything but lend against good collateral in recent years you know traditionally the fed has accepted only the highest quality collateral in return for a loan the prime example is u.s. treasuries during the two thousand and eight crisis however the fed post-crisis was willing to accept the seemingly any dubious piece of highly overvalued paper paper that was deemed a liquid or toxic or popular by the rest of the banking system c.d.o. is full of things like commercial lend residential real estate loans credit card loans auto loans student loans and the fed has offered trillions of dollars in. interest rate emergency loans not that penalty rate low interest rate loans that

were not disclosed by the central bank until last year to keep banks like bank of america as an example afloat and here he is talking about what's wrong with the gold standard when the things he says at the bottom is that the effects of bad policies in one country can be transmitted to other countries if both are on the gold standard ok that's weird because we thought if you're on a gold standard. essentially you can demand. other countries or other countries can demand gold in return for dollars if you start to print them but with the uk currency if one country is devaluing this causes another country to do the same we've seen that with brazil and china in response to the us what's known as currency wars we talk a lot about them we've been argued the bestselling author of the book who talked a lot about them so this is exactly the opposite of what bernanke is saying let's break through the propaganda though that's coming from all directions it's not just

the we have m.f. global we have the mortgage settlement we have the g.o.p. budget released by paul ryan here is to talk about all of this is gerald celente he's founder of the trends research institute publisher of the trends journal and i am so happy to welcome him back to capital account hi mr solenn say thank you for having me any time absolutely you're always such a pleasure and so insightful so first i want to ask you because i sat through ben bernanke the professor burn a lecture today and heard some assumptions that he made that i would disagree with talking about the importance of the central bank as a government agency and the necessary of having a government agency with the public's best interest in mind what would you gerald celente tell those students about the fed and its mandate. well i think the whole charade this dog and pony show that he's putting on talking to college students

really says it all and it's all connected people should understand that all this is high school in college for example the same politicians that are telling you what to do today are the same people that you knew in high school in college that wanted to be class president in the head of the student council well they solve their career path and here bernanke eat this guy's really united same frame you know the professor the princeton professor you listen to be and do your assignment and you'll go to get a good grade just pay attention and repeat exactly asthore me so that's all of these says lauren it's a charade it's a show it's high school usa yeah and it was live streamed all over the usa for anyone who was listening to that lesson cheer when maybe bernanke is hoping

to have them repeat after him after all of the flak he's gotten some called the p.r. offensive speaking of professors gerald we too have president obama's. nominations for federal reserve board of governors they testified before the senate banking committee today and you know even though some of them talked about a little bit of difference in policy perhaps maybe raising interest rates before that two thousand and fourteen date at the fed has given if things improve a lot a lot of the stuff i heard jerald wasn't to be encouraging jeremy stein is a harvard economic professor speaking about theirs that just if that is shown a lot of bull ability to adapt and evolve in terms of the tools that is used to conduct its monetary and lender of last resort policies yeah carolyn no kidding it really have adapted despite no change in its mandate when you hear these guys is. this is more of the same yeah and that was a long statement to say we're going to print

a lot of digital money because this is leak and flooded into the system with near zero interest rates and again this is it's one big ponzi scheme who puts going over there over there in europe with the european central bank and you want to talk about great collateral war and what are they doing you know one point something trillion euros that banks could borro at one percent interest rates just throwing junk on that they have no collateral they have no money and what are they doing well you know pay it back to us in three years just keep this ponzi scheme going so the really what's and this is very important parallel what's going on followed back to the christian of two thousand when the nasdaq crashed and the dot com bubble burst what did they do after nine eleven they lowered interest rates to forty six year lows to keep the ponzi scheme going because the cats don't like to lose money

and they have to make it back real quick but now they're doing it again but this time people don't have the leverage to buy homes so what are they doing with it going back deep into credit card debt oh now they're buying or more bills and a lot of crap that they don't need at retail stores so it's really the same thing they're doing doing is printing digital money not worth the paper it's not printed on as fast as they can and dumping into the system and when you're talking about consumers spending on things they don't need maybe gerald that's because they are frayed afraid to take any risk with their savings look at research firm conducted a study and found that not only are two thirds of working age adults believing that the u.s. economic model no longer works for the majority of americans but what is more striking to me is that now fifty one percent of americans they polled are not willing to take. savings down for carol from june of two thousand and nine where it was forty percent so is this a direct byproduct of you know

a vicious cycle where people are afraid to take any risk because of maybe what they've seen in the financial system but yet they can't make any money because they're basically repressed by the zero percent interest rate so they're buying but screen t.v. the best buy or whatever well part of it but you know that yes that is definitely a part of it and let's look what's happening to the older people the retirees they're not getting any return on their body because of these viciously low interest rates that have put in place to what i call public enemy number one osama bin you know not hurting a lot of people with this low interest rates and then why wouldn't people invest in the stock market of commodities markets cheap i don't understand why you know m.f. global leave the brothers the goldman sachs the merrill lynch why would anybody be afraid to give their money to. these are you know i just heard mayor bloomberg you

know the billionaire bloomberg and billionaire's have direct lines to god because he said that even guard would have trouble straightening out what's going on at goldman sachs yeah god can't straighten out well let's make this really clear just for the record you know that money changer a long line about christ eating the money changers out of the temple the only time he becomes violet's guess what the money changers are in control yeah you're on just to set the record straight on our mayor bloomberg comment that even god couldn't run goldman right now without a lot of flak and do you think this is because i think that it's his job to support companies that are responsible for new york's tax base or do you think he has as you said is a billionaire a former investment banker really believes that goldman is doing god's work. well you know i don't know what he believes but it's a lot of crap and you know getting caught into those things like you stupid

politicians like brock meaning came in and perry and the rest of them you know i got a telephone call from god and god said i should run for all says i'm sick of these people telling me what god told them or god believes i mean this is kiddy crap along with listening to a lecture a bunch of college students how dumb or could this become how much more shallow does it have to be before everybody sees what a big show this is and everybody's starts to calm osama ben bernanke either jihadi bank are real quickly jerrold i want to get more into m.f. global after the break because i don't think we're going to have time to right now but a new ruling in the lehman brothers bankruptcy has k.p.n. g. who is in charge of administrating m.f. global's it's called was european administrator and they are saying that the precedent that is set which says that customers with non-segregated accounts and segregated accounts basically are equal that you have no priority if your money was

in a segregated account to get your money back before that non-segregated account holder you are a segregated account holder right how do you feel then they're saying this is the president and that's what the courts are ruling over there those were all these inroads in wigs and make in the sky i thought they were all members of the club and what they're doing is they're giving their friends the money and the big guys got most of the body and they're in on the deal the j.p. morgan chase and the rest of them anybody looking at this you had that wonderful interview on with mark. yeah mark maleng and he really laid it out clearly that this shouldn't be a chapter eleven bankruptcy and on and on the whole thing while he is john cleary resigned being brought up on fraud charge. is when gensler gary gensler the form is underling of john cause lied when they were both at the goldman sachs why isn't he

now he's the head of the commodities futures trading commission he said it was basic work language when you go into segregated accounts way out is in chorus line being brought up on fraud charges why is it that every little person out there like us working people really get hit by the letter of the law but the people on the top get a free ride that's the question and that is the question and we'll continue to try to answer it on this show we'll continue to try to answer with you after the break but we have to go to break quickly will be back with more with gerald celente founder of trans research institute publisher of the trends journal and also still ahead greg smith's new york times op ed claims some goldman sachs employees refer to their clients as muppets everyone knows if i now but it may be those employees that have boring common with the muppets after all will give you our three cents on why their fifteen minute walk of fame is not over the first year closing market

numbers. well with. technology innovation all the developments around we've got the future covered. shoes the same and there's a huge decision on the market as the syrian civil war crimes on calls for an outside military intervention grows louder and louder while at the same time there is. glenn . before the break gerald and i left off talking about the difference between

how the banker aristocracy or kleptocracy is treated versus average regular people who aren't part of that elite class i want to really break down what i was talking about regarding m.f. global before good before i'm going to hold back because this is just completely insane to us so i'm of global's european administrator k.p. energy now expects litigation to deny payouts to clients or to delay payouts to clients after the landmark ruling and the bankruptcy of lehman brothers so in this ruling britain's supreme court said that lehman's clients whose cash the u.s. investment bank had mixed with its own have the same rights as clients whose cash was segregated in a segregated account so this means effectively for m.f. global that if your money was in a segregated account you have exactly the same right to claim it as if you didn't this just blows my mind and gerald celente was once on our show telling us that his

money was frozen in a segregated account as a result of this whole m.f. global debacle he said it was to the tune of six figures i want to bring him back in and just follow up with that notion of what we're talking about before the great because you're just on a personal level do you think you're going to get your money back and how does that make you feel. oh it's wonderful i love lou i love my body being stolz i mean how do women like getting really it's wonderful feeling and they could do it they could do anything that they wanted i haven't had a better day of our lives wonderful advice when you find out you lose all that money oprah that's ok look when they bring that clown clothesline in the floor of the house to testify check it out and a ripple in front of his name. the whole game is rigged and book we just had a major collapse the worst since the great the pros. can think of the differences

f. of the great depression the banks were demonized glass steagall was put into play now the banks that became the too big to fail and we have to save them have you seen one one three head roll from any from lehman brothers from morgan stanley from goldman sachs from country why some are called the are not yes hero and they called mark with this two bit why that parties do because it's just a revolving door that we neither it nor did know are right that we screwed you will pay your on and nobody goes to jail so that's what the whole thing is as you played on a clear picture really clear who is the c.e.o. what was the ad of the treasury secretary of the bush henry paulson where was it from goldman sachs that who's the head of the c f t c gary gensler is he from

goldman sachs who is obama's chief of staff told a little while ago oh that was a daily whisky from j.p. morgan chase who's a church three head over there in canada oh he's from goldman sachs who's the head of the european central bank that druggy vice chairman of the european division of goldman sachs yeah i mean what is it take a six year old to figure this out the merger of state and corporate powers is clear fascism and it's right in front of you morgan sacks us says there you go and gerald you know while workers want people whose money has been frozen and disappeared been stalling and don't know if when they're going to get it back you have people that are betting on this and they're investing on the carcass of m.f. global in fact it was the third most traded bankruptcy case in february after lehman and lehman former brokerage so investors think they're going to make big money on a say. yes some of the i get all these mailings from these different firms that

want to buy that your watch says and again it's part of the casino this is what goes on when by the way here's something that really slipped away how about that guy terrance coffee you know the guy with a big mouth over there from the see any group that told everybody to have a videotape and put it up there to see that the group has a hundred billion with a b. worth of collateral to back losses such as the one that occurred with m.f. global how come nobody's calling them out on the carpet it's that they're running these stupid ads on bloomberg and everywhere else saying how safe you are with c b yeah so brightly since anyone calling out can read stuff the who's on videotape saying that they have a hundred billion dollars in back up for people that could shift it like i did in many others yeah well we'll play that again and again gerald until something comes out of it which we certainly hope that some kind of justice is served i'll be sure

to ask your questions about fraud to phil black he's a former regulator who we have on tomorrow so we can continue to follow this because it is so important and i really truly believe it is so under covered thank you so much for coming on and talking about it i am getting your personal you know response to it because this is affected you personally how is gerald celente founder of trans research institute and publisher of the trends journal. all right time for a little change and before i bring dimitri and shannon here i just we didn't get to gerald to talk about this chart that i brought up at the beginning of the show what's driving our debt that's part of paul ryan's budget plan because i asked at the beginning of the show what is missing take

a look at that defense he doesn't put defense and there i don't know how something that is ninety percent of federal responding more than fifty percent of discretionary spending cannot be considered to be driving the debt but i just wanted to point that out to everyone as yet another example of the wool being pulled over our i now let's bring dimitri and shannon in to talk about some of these stories that we don't want you to miss because greg smith claimed last week in his new york times op ed of course that some of his colleagues referred to goldman sachs clients as muppets that was just one of his scathing remarks about goldman sachs but you know maybe it's those employees that actually have the most in common with muppets look at us. truckers they chose the poor trusting north. star struck.

look at that what do you know muppet mortgage lenders now muppets got a walk on the hollywood star on the hollywood walk of fame today a good time to bring out some of the muppet commentators that have come forward other goldman employees who have come out talking about their former employer let's bring in some of the ones that caught our eye get a former partner with goldman sachs jacki zehner who said so much junk was created that should have never been with disastrous consequences and that will be a galactic mark on the whole industry for a long time as it should be that in and of itself is a testimony to the industry in general having lost its way when you can create toxic waste and make it as if it was not you are indeed harming your moral fiber and then there's the third great grandson of goldman sachs founder marcus goldman on an op ed to business insider he told them i thought it was spot on and then of course you have former investment banker himself michael bloomberg who came to goldman's defense and said this about lloyd blankfein he's trying to lead this firm

at a time when god couldn't lead it without being criticized other just like you i mean kaiser has been harping on this for a long time about the divine right of bankers remember during the middle ages you have a divine right of kings the king had a direct line to god and was able to therefore have the right to say whatever you want to do on earth. jihadi bankers that's very important because the question is those who were truly believe that he and gold goldfine are doing are doing god's work are blind fire whatever god's word and i think he really does that he's a jihadi banker just like just like life and he's willing to blow himself up for the ideology the idea of the they are divine and they can do whatever they want so so basically we're all markets because real loud these freaking kleptocrats to stand on top of the pyramid and basically say we have a less likely god we know we're god launches give got a call we'll talk again we will tell you what to do speaking of god do you know

what success means like dimitri because it seems like someone who may think he's god does. i'm worth many billions of dollars now it's not to brag about i'm worth many billions of dollars is very simple she said i was bankrupt now i never went bankrupt she said i fell bankruptcy three times and never filed bankruptcy i never went bankrupt. that was donald trump of course firing back super defensively to rosie o'donnell's attack i think that was you know a little bit ago but now he's come out with a fragrance that is this smell of success do you think this is about success or do you think this is about donald trump saying i am professional well i just you know i don't think he's god but i promise you that god has a much bigger wanker then donald trump ok because he will insecurity is the most direct reason why don't trump has such incredible security and he causes tell people i'm with many billions of dollars no down. you make money by literally just i mean because i wish he would just go bankrupt once and for all instead of like

shuffling money around his business remember he's not bankrupt prices your company where you never got about that ok we have to get to this story because it's so good so sweden may have been the first country to bring money to europe but now they want to ditch banknotes altogether and even after a star museum i cannot pronounce is backing sweden's move toward a cashless society after his son was abroad three times listening. so the man who wrote the song money money money is now saying no cash in sweden what do you make of that the cash let's us the new world order less the cashless control grid our if i do chip sticker on my arm and no need for cash the bengals would love that right because then they just really can't war but rather some to didn't want probably want to miss this one have credit and that's it so this is great if you screw if you go to the bank or your credit lines go off so there you go we'll end on that cashless society coming to sweden who is next out there for

our show thanks so much for tuning in don't forget to call me on twitter at lauren lyster give us feedback a you tube dot com slash capital account and from everyone here at the show thanks so much for watching and have a great night. and .