tonight on our t.v. ron paul might not pull off a presidential went in two thousand and twelve but it looks like his criticism of the federal reserve is gaining steam a full out it might not be as far off as you think it will tell you how congress plans to follow the money next. plus one is buying an i pad or an i phone a crime well if you're from a country that has bad blood with the u.s. i could be talking about you apple won't sell to some iranians here in the u.s. we'll get to the core of the issue. and congress may not be able to get to agree on anything these days but just two days before the interest rates on student loans are set to rise it seems they finally stop dragging their feet but don't go counting your savings just yet we'll give you two good reasons why this isn't

a victory it's made out to be. thursday june twenty eighth eight pm here in washington d.c. i'm liz wall and you're watching our t.v. . well end the fed isn't happening yet but it's on its way to getting audited congressman ron paul's bill to broadly audit the federal reserve advance in the house yesterday and passed in the house oversight committee and members say they hope a full they're hoping for a full house vote next month paul has been a huge critic of the federal reserve criticizing it policies and lack of transparency so does this move show that paul's and the fed message is resonating with more people twain on this i was joined by lou rockwell chairman with the lou began mrs institute take a look. well i would like to see the fed moving closer to a hole in the ground myself rather than an audit but i think this is of course

a wonderful victory for ron paul eric cantor or the number two guy in the republican house has blocked this bill for years and he's been persuaded to allow it to come to a vote i fear that doesn't mean it's going to become law because the snow with the senate is going to pass said no way the president would sign it on the other hand this is the fed has become an issue ron paul made the fed an issue for the first time since nine hundred thirteen when the when the thing went into first came into existence so when you have eight thousand college kids on the berkeley campus chanting at ron paul and the fed you know that things are changing and people are right to focus on the fed it's a very dangerous institution it does only evil only harm to america and the whole world so the more we focus on it the more we talk about auditing it the more we talk about seeing if this is really the gold in their vault that they claim there is always look at all the bailouts of the european banks the american banks the more we scrutinize everything they're doing the better off of the cause of freedom

in the cause of economic prosperity and you had mentioned how best method has spread across a college campus as of course ron paul that is very young following but it looks like his message is also spreading to members of congress well they you know these guys i don't want to shock anybody but they you know they care about being reelected and it's absolutely true that they're hearing from their constituents it's amazing how many congressmen get letters saying hey why don't you more like ron paul so it's it's quite a wonderful thing and they are i don't think they've changed their minds i i think they you know they can't be trusted their congressman after all right but however they will respond to public pressure and there is public pressure and we just notice even in the in even in some of the parish was just pointing out to me even in regular economic stories we oftentimes see a picture of the fed when people are talking about economic troubles and boy that is exactly right the fed is the source of all our. unama trouble is not the congress of the presidency the supreme court these institutions all do huge damage

but the fed is the foundation of all our economic troubles here in europe and enough i'm afraid the coming the global depression now lou i do want to repeat a quote from congressman paul it's a response to this moving advantage of the house he says quote it is time for the federal reserve to face a thorough audit of its monetary policy and lending operations the fed purchases of dubious assets from favored wall street institutions its lending of hundreds of billions of dollars to foreign governments and central banks and the prospects of further quantitative easing and european bailout to underscore the critical need for transparency so lou what might an audit of the fed reveal well first of all would tell us where the money is going how much money they're creating they've created. and may have even understated it probably trillions of dollars went to the european banks certainly trillions of dollars went to the u.s.

banks we'd like to know how much did they create how much in effect money the counterfeit who got it what were the terms who were there favored fair haired boys in the banking industry here and around the world and you know i mentioned to the fact they don't want us to know they own all the gold but they don't want to let anybody look at it they don't even want to be counted they don't want the bars to be assayed they don't want especially the investigation of who actually owns it there are some questions about this about who whether it's foreign central banks or the fed really owns the gold as they claim all those kinds of questions should be investigated they should be open to a total transparency and investigation they should not be allowed to do everything in secrecy like a criminal gang but of course they are a criminal gang so i guess that's what i like this is also a lot of questions especially a in a time of financial economic turmoil after the recession of two thousand a lot of questions i mean what policies of the federal reserve could put the

economy at risk. well the quantitative easing i mean the inflation when when when the federal reserve pushes interest rates below than it than the natural level when of course now it's they're almost zero when that happens it brings on the business cycle because it causes business people to make all kinds of investments that similar a great idea at the time but when the bus comes turned out to have been disasters this is of course the story of two thousand and seven eight and many other booms and busts that the fed the fed creates it creates recessions and depressions that's the worst thing the fed does and so they can actually put us into a global depression in cahoots with the european central bank in the bank of japan their partners in in crime so it threatens everything it threatens everybody's economic future thirteen's our children's economic future it threatens our grandchildren i mean this could be go on for a very long time the hole that they're putting us in and yet they are immune from being questioned they're never to be touched but never to be inquired into bernanke

and company should just be able to do whatever they want in a secret room in cahoots with the big banks and we're not allowed to know well ron paul is exactly right we have a right to know we have a need to know we need to if we can if we care about the economy we care about all our economic future than having prosperity and not all being in poverty we need to know what the federal reserve and it's going and it's composite in the banking industry are doing to us in of course the purpose is to stop them from doing this and i do want to mention lou what the opponents of this are saying they're saying that this is undermining the independence of the federal reserve a federal reserve federal reserve as opposed to being politically and of. the shows i watch and it's not politically independent. the famous statement of arthur burns who is richard nixon's chairman of the fed and a very bad man who once when question when questioned about this after he was out of the fed made a hilarious statement he said look the chairman of the fed has to do with the

president wants otherwise we'd lose our independence. now what the independents means they'll get to live it up the fed the fed unlike the governor all the whole government lives up but the fed is really on the top of mount olympus drinking you know drinking nectar nectar of the gods they live it up to an unbelievable extent and they can determine their own expenses and so forth so that's that's what they mean it's not actually independent of the rest of the government to say and you're not buying said chairman ben bernanke is argument that this is going to open it up to the politics well the fed is of course a political organization all it cares about is politics all its all its whole its whole concern is just nothing but politics and my view bernanke is whatever he says believe the opposite then you would be right all right i want to bring up a california republican he's the chairman of the committee darrell eissa he said clearly quote clearly that must be made and must be to excuse me if that must be

made too big to fail and too big to fail requires a considerable amount of oversight what do you think about that well i'm glad to hear i say that and it's an indication of the influence of ron paul that of course the fed does need oversight the notion that this organization maybe the chairman of the fed is certainly an economic and financial matters the most important powerful guy in the whole world why should he be allowed to do whatever he wants in cahoots with goldman sachs and j.p. morgan and bank of america and the rest of them why does he get to do that to the american people people of russia the people of europe people of the whole of latin america asia the people of the whole world who gave what what kind of nonsense is that of course he needs oversight of course we need transparency of course we need to know who's getting the dough i mean how we always know when congress who's gotten the dough we pretty much know what the presidency has got to do how come the

fed can put out far more money than congress of the presidency much more money and yet it would solve. those to be highly secret the only reason they want to keep it secret is because what they're doing is criminal what they're doing various them and that's why we need to know what and we need to stop it all right so at this point it is advancing still needs to pass the house how do you expect the the senate to deal with this the house will pass a bill even that's going to great thing for on the senate senate some going to pass the senate this is the bulk of the fed of course obama's in the pocket of the fed so the senate won't pass it and the president won't sign it nevertheless ron has made huge advances and i think especially with what young people are thinking and calling for we're going to see some great things as they ought to be scared in the in the marble palace of the fed they ought to be shaking in their pants right lou thanks thanks so much for weighing in we'll be keeping a close eye at this bill as it progresses in congress i was lou rockwell chairman but the lead wig of me says and stated well looks like u.s.

foreign policy is trickling down to us corporate policy a group of iranians are accusing apple of racial profiling this after news broke in a small town outside of atlanta that an apple representative refused to sell an i pad to a young woman because she was iranian has local news coverage in atlanta. i'm from iran he said i just can't sell this to countries have bad relations if you china mind i phone don't own anything about iran is that they had a similar experience at the apple store in perimeter mall he was helping a friend buy an i phone that friend was from iran living and studying here on a visa we never talked about him going back to iran or something like that i mean he just. well that story sparked outrage by how far a recently formed group of iranians and iranian americans they say they're anti war and an anti sanctioned group and they took their message outside an apple store and york city five k.

i was i. know. he was. you know. like i am the i. want to talk about the greater implications of this be it a must stop be an organizer for a whole bar try me a bit earlier. you know our national response was that as a group that opposes sanctions and also state repression inside of iran we saw this is an example of how sanctions the way that they read are so broad that a company like apple can in effect create a chilling effect on all things iranian not allowing any iranian individual because they speak farsi to purchase an i pad or an i phone is just emblematic on the reading of things sions law trickling down to the point where you you have

a violation of u.s. federal civil rights law now this happened outside of atlanta is this an isolated case or to your knowledge has it happened anywhere else. there are recent reports by the national iranian american council that there have been reports of other incidents also in california and i believe virginia. isn't seen as an isolated incident at all and in fact stepping outside of the united states i know through through friends and contacts that i have in the netherlands that as we know the e.u. sanctions are going to go into effect the oil embargo july first and already there the interpretation of those sanctions have led to suspension of visas for iranian students studying in the netherlands and so you know that your group and he's saying shen. sanctions ultimately they're put in place to achieve these

foreign policy goals to affect the regime or to target the regime but would you say they in reality they affect ordinary iranians. absolutely i mean my background is an individual that i actually opposed saying sions against iraq and i traveled to iraq before the invasion in two thousand and two and saw the devastation and the toll that this policy had on the country and what we've seen in iran is an escalation of sanctions over the last four years really that in rhetoric of of countries of the p five. u.k. france russia china and germany the p five plus one has been to target and curtail iran's nuclear program but in effect saying since history has shown. that what really happens is an economy gets devastated and the people who bear the brunt of that are those who are already bearing the brunt of repression

from their own government like iraqis in iraq and now iranians in iran and what's kind of ironic about this particular case is that they were trying to purchase an i pad and this is something you know i phones i pad these these devices can be used to empower people you know presumably you can access twitter facebook social media and you know in the arab spring we saw how this kind of technology was used to to help spread awareness and spark this movement but in this case the iranians are being deprived of using this technology. that's right liz and the thing is that the u.s. government has in recent years taken a step back and ease sanctions on certain software but the problem again is that the sanctions read so broadly that companies like apple like

yahoo and google can take an interpretation quite easily away from the us that they become weary of any sort of access to software or hardware that they might have to iranians or in this case an iranian american for fear of what might happen to them what sort of sanction they might receive in return return but you're right i mean even in an iran what we saw in the aftermath of the disputed two thousand and nine elections was that the u.s. government targeted iranians you know senator clinton secretary of state clinton was even heard of the time calling a twitter revolution inside of iran but it seems ironic and rather have hypocritical that at the same point in time what we have our policy is that make it more and more difficult for young activists young organizers inside of iran and people just wanting to communicate with each other to have the access to the tools

that they need to do that and iran i want to say very clearly has a media that is completely state run so the peep's of people's access to information and the sharing of information is almost entirely through internet sources. would you go as far as to say this is this incident and incidents like it would you describe it as racial profiling would you go as far as to describe is that. absolutely i mean let's look at what apple did very specifically and if what they did which is what was reported with stop an individual who was speaking a foreign language in this case farsi and say simply because they spoke that language that they were going to deny a sale then that is clearly racial profiling because in a fact their policy reads that sanction countries are the countries in which they

can export certain goods and those countries and include cuba they include north korea they include syria in the sudan so what apple in essence should be doing is literally stopping anybody that they hear spam speaking spanish anybody that they are speaking korean anybody that they hear speaking arabic and then denying them a sale if if if it's not just racial profiling and that was stuffy and organizer for home bar. well looks like congress will act to prevent interest rates on student loans from doubling they're set to go up in just a few days the rates were set to rise on july first from the current three point four percent to double that so six point eight percent of college students and grads shouldn't breathe a sigh of relief just yet that's because even if interest rates stay put students are still screwed well everyone else has been focused on interest rates there are

other parts of the deal that have major financial implications starting sunday students must pay interest rates on their loans while they're still in school and immediately after they graduate so that grace period between college and getting a job gone also gotten federal subsidies for education that will also jack up the price to go to college. now students are now facing a twenty billion dollar increase on their federal loans so what does this mean for college students and how could it impact the economy earlier founder of forgive student loan debt dot com proper robert applebaum joined me and i asked him if students were much better off yes his response not at all three point four percent interest rate keeping that is a minor issue in the overall student loan crisis that exists in america and as you were just saying the way in which they struck this deal leaves students just as

screwed as if they had double the rates anyway we are in the worst job market since the great depression and students who have graduated into this job market in the last three or four years have i'm disappeared fifty three percent unemployment or under employment for these college grads yet they're supposed to start paying interest while they're in school and they're supposed to start paying right after graduation to enter into repayment it makes no sense they don't have jobs to make these payments so essentially it takes a burden that was already there and makes the burden a lot worse and it makes the burden happen a lot quicker yes yes so in congress in their infinite wisdom has decided to keep the student loan rates the same but yet. screw the students over other ways as well you know it's interesting to see people are still handling this as a victory you know there's things to be this this fixation on the interest rates why is it that some of these other you know other provisions of the deal they seem

to be overlooked but they just as well and back the you know wallace of college students and college grads sure and you know frankly this whole debate over the interest rates is a red herring and it's such a minor aspect of the overall student loan crisis that we have in america we have one trillion dollars in outstanding student loan debt that's more than credit card debt that is suppressing economic growth in this country because of these debts those who are most likely to spend money aren't buying cars they're not buying houses they're not starting businesses they're not starting families they're not doing any of the economically stimulative things that we need all americans to be doing right now if we're ever to dig ourselves out of the hole created by the greed of those at the very top and when you put this burden on young people how could that further drag down the economy because they're not spending it are we have a consumer based economy seventy percent of our g.d.p.

is consumer spending and when you further burden those who are most likely to spend their money by requiring them to repay these debts to the federal government they're not buying other things they're not doing other economically stimulative activities there's no economic economic stimulus the effect of repaying these loans to the federal government it's just there is no effect and you know these days though with students they're graduating with a mountain of debt as you as you had mentioned a variable leak job prospects do you think that now more than ever the the value of a college degree is is being called into question absolutely because of the student loan program itself. colleges and universities have had no incentive whatsoever to keep their costs down and we have now long past the point at which tuition rates bear any reasonable connection to the salaries that one can expect upon graduation if you can get a salary so you know at this point i think it's very important for prospective

college students and grad students to really consider the job market that they plan on entering into before signing on the dotted line dotted line for college and so as you had mentioned earlier congress ok they reach this deal but it's it's just not enough it's not doing much to alleviate the burden that on so many young people in the u.s. today what does need to get done. congress needs to pass h r forty one seventy the student loan forgiveness act of two thousand and twelve introduced in the house by representative hansen clarke its up a new repayment program called the ten ten standard whereby people who have student loan debt would be required to pay ten percent of their discretionary income over a period of ten years after which the remaining amount would be forgiven and in fact just today we had a rally in a press conference because i had started a petition in favor of the bill and we reached over one million signatures so

clearly there's a groundswell of support for something drastic to be done to address this problem now you know critics of that legislation like that will say well you know these students they took on this debt they made that decision to take on that debt and therefore it should you know are now faced with the responsibility to pay it back sure but the legislation that i just spoke about doesn't isn't a free ride it's not a handout it requires you to pay ten years at ten percent of your discretionary income and moreover you know considering the job market and the economy today why would we do anything to further drag down the economy. like i said there was one trillion dollars of outstanding student loan debt and unfortunately that's not a cap that's just a disturbing milestone on the national path to poverty that we're on and you know part of this vicious cycle is student dad is one of those unique kinds of debt that follows you and hans you where for for have forever basically what i mean you know

. i mean exactly you can. if you file for bankruptcy that is the debt that stays with you absolutely and there's no statute of limitations on the collections of these debts either so that puts it in a category with treason and murder. doesn't. mind boggling mind boggling so you know we've been covering recently was the at the protests in canada. students some estimate hundreds of thousands of students in canada taking it to the streets protesting to ration hikes activists you know people standing behind this cause the tuition hikes in canada are nowhere near what we're facing here in the u.s. the cost in canada for education for colleges is much lower but why is it that we see that outrage there but we don't see

a net that outrage here to the same extent apathy i think the american people have . gotten to the point where the you expect nothing from congress anymore the government has failed them and they just don't see any connection between protesting and results so i think and that's unfortunate really i mean because i do i don't i'm not that cynical myself and i personally believe that if students would rally together and make demonstrations and make this issue come to the forefront then we would see some change so i think we have an apathy problem in america and what do you think it would take for for the u.s. or for students here in the u.s. to reach that breaking point and respond in the same way that we're seeing this response in canada i wish i knew because you know since one nine hundred eighty the

average cost of a college education has gone up by eight hundred twenty seven percent that's an insane amount i mean it's way past the rate of inflation it's more than even health care inflation so quite frankly i don't even know what it's going to take to get the american people to get angry the way i did when i started my petition in favor of the lieut. h r forty one seventy eight last i want to ask you because i knew that you were out protesting today. trying to get support for this bill go a lot of support i guess in the numbers we see on your petition what's next for that well congressman hansen clarke is delivering the petition to the chairman of the education committee today and hopefully will get a fair hearing on it and see it least get a vote on it but the battle doesn't and today just continues on right robert thanks so much for coming in the studio and weighing in on this very important topic that just affects so many people so many young people here in the u.s. that was robert applebum the founder of forgive student loan debt dot com

well how often have you heard a politician or a member of the mainstream media talk about the dangers the u.s. is facing from a terrorist attack here at home to a cyber attack that would wreak havoc just listen to some of the highest. that's the next pearl harbor that we confront could very well be a cyber attack that cripples or our power system certainly our grid this is a matter of national security a cyber attack on america can do as much or more damage today by incapacitating our banks or our communications or our our finance or transportation as a conventional war attack of terror could come not only from a few extremists in suicide vests but from a few keystrokes on the computer. like every american should be preparing for the end of times and hiding under our beds but it turns out all of this talk of

terrorist threats and cyber attacks appears to be just that talk last year the number of worldwide terrorist attacks was down twelve percent from two thousand and ten around the world thirteen thousand two hundred eighty eight people killed last year by a terrorist attacks of those deaths only seventeen of them were american citizens and those deaths are without a doubt tragic but does the hype about all the danger the u.s. is facing seem to fall a little flat if you look at the numbers seems to be that way there's no doubt that the u.s. is a constant target for terrorist attacks some of it is brought on by our foreign policy some of it for the simple reason that we are not liked by some people in the world so the question now is how many more of our civil liberties are we going to see erode in the name of security so the next time you hear the u.s. is facing great danger stop and think about where that information is coming from but that's going to do it for now from a.