in certain times but most particularly central banks around the world including the united states most importantly are targeting asset prices so i think a lot of people would like to see asset prices higher and if they're going to do that they're going to be targeting higher gold prices higher commodity prices higher stock prices too so yes i think it's time once again to take another look at the gold metal and we do have some rather famous ad gentlemen buy up at the moment our friend sam a prestigious investors don't pulse and store us what do you imagine they're thinking right now. the thinking is that the market is generally not long that it's somewhat fall and out of favor that that exuberance that froth that was in the market nine hundred dollars has been blown away and that if we are going to see asset prices being targeted this sets a very good background i think they're also likely to be thinking that if we're

going to see any escalation of uncertainty and tensions geopolitically in the middle east and elsewhere but if that were to push up the price of commodities most notably oil then actually gold gives you a bit of a free ride there you don't have the same problems of storage and of the problems of physical delivery you don't have many of the problems associated with that you would have with actually buying and transporting and storing oil so in a sense gold is giving you a bit of a hedge against the increase in geo political tension in the middle east and if we've got these investors heading towards gold right now and safe haven where does that leave the ruble and the russian ruble as a risky asset where does that stand at the moment. i think i've described the ruble currently is comfortably neutral if you look over the course of two thousand and two. well of we've been down to twenty nine against the u.s.

dollar at its best level and then up to thirty five and here we are trading around thirty one seventy roughly in the middle of its range for the year and i think that pretty much sums up investor attitudes you know they could say we have lots of things go wrong if we do get the fiscal cliff in the united states if we do get a recession there if we do get a flight from risk then maybe the ruble can be back up at thirty five who knows maybe even thirty six if however things turn out pretty well you get a resolution to your pay for the fiscal cliff is avoided if asset prices more generally start to rise and we could easily be below thirty inside say the ruble current levels reflects that balance of risks with investors largely neutral i don't i've not spoken to any large investor who's got a particularly aggressive position one way or another in the ruble comfortably

neutral is i think what best describes it so would you say right now this is a sissy on the fence it's a wait and see upright as to see what's going to happen early next year yeah i think that does describe the position very well i've just come back from a trip to australia in new zealand and we see a lot of global investors and the mood that we get is very much one that says they're afraid in the short term they're afraid of coming into calendar year end of volatility and accumulating cash to avoid being caught by a sudden drop in prices but to me the unanimity of this view suggests that cash is going to come back into the market and we are going to see a lift in asset prices now i'm not normally someone who's particularly bullish about stocks in asset prices generally but i think i see so many people who are on the way relative to their own benchmarks who are running short positions. relative

to where they'd usually be but i can see a lot of potential buying power coming into risk assets and i think that will give a boost to stocks to commodity prices and also to anything that's got a vaguely. label attached to it and i think in that in that respect then as long as there are no domestic catastrophes one could see the ruble as being actually well poised but it's easy to paint a picture that's got the ruble trading back below thirty again if all goes well and that's what the hopes got to be. well this is what's happening with the u.s. stocks right now because there are moments in the session outscoring of the way they evolve as jobless claims to climb and confidence among u.s. consumers rose also helping to keep those three above the waterline today now the european stock markets ended a short session slightly higher than about his investors stayed on the sidelines head of the us cause i thanksgiving of course but also going just in the eurozone

finance ministers to agree way on conditions for further rate for grace which means the euro is actually probably no surprise that it's still managing to noise so around that weekly high meanwhile the russian ruble finished up today makes it's down against dollar to the highest of us is the most. amazing on the edges and here last night ended the day with the day we all just in the mindset added almost one point three and zero point seven percent respectively value to say. now staying with russia then more than sixty billion dollars left russia in the first ten months of this year far exceeding government expectations so to discuss what's going on exactly i'm joined by nick paul on our business desk hello to you nic now disappointing all these figures that. what would your way you cut it look pretty bad the government at the beginning of this year was predict. the flows would be

balanced they were expecting about first six months and then they thought this would all turn around as in confidence confidence built a money would start flowing back into the country and cancel out the deficit in the first half. so was this some improvement most will seventy billion it looks like it's going to be this year so last year was eighty five billion and i suppose you could say that was is an improvement but the previous two years were still that in total it's been about two hundred fifty billion dollars in the last four years that has left the country that would otherwise have been put to work here and that is a problem what is the problem that exactly what why is all this money leaving russia well in a word confidence. who's the deputy finance minister said earlier this week that trust in russia is really quite low they are trying to fix that the government is bringing in new policies to combat corruption to improve the rule of law and to

improve transparency but as we know these things always take time nick russian savers what are they doing. it is not just international investors that are concerned about what's going on here is also the russian of us is added to that is that there's no really well established pension system here in a pension system is very important clicks all the money together in russia to a certain extent and then invest it and therefore it acts as a large scale investor that we are weighing the russian economies and where the city could say you know this is the are any of it the growth here is about about four percent it's got a balanced budget and other countries around the world particularly in the west would sort of cool for those figures however it is all down to the price there is a lack of diversification this is were really what worries investors and i would imagine the thought the russian act is haven't had the best nothing is going to help matters by europe so you write that down ten percent this year down forty five percent since the peak in may two thousand and eight. basically investors are

looking for other places to get a return on their money and what about the international situation at the my event this is also a place that plays a role review as you're right that sort of broader global crisis particularly with european banks and european funds they're withdrawing money from russia in order to shore up their position back in europe so it's not necessarily a kind of negative view of russia that oh it nicole thanks very much and day for the setting light of situation for us thank you. and next alton sits down to discuss extent of the u.s. government's ability to spy on its own citizens with the n.s.a. that's when and when live between us off of the soap like. it's perched atop a judge a rock and a view from the tobolsk prevalence stretches far as the eye can see. for a city that chilled all of siberia for centuries. it lost its economic importance

even before it was bypassed but a chance i bear in railway but the a spiritual center. seems like these are a yearly occurrence thousands of orthodox worshippers implicity water to commemorate the baptismal jesus. there when you will about wore them it doesn't matter if it's minus thirty it's a siberian tradition i do it myself every year for everyone to overcome their worst fears it is desirable to take the plunge. but that's picture postcard churches the story of a city built by opportunist explorers political exiles and crafty fur traders

in the fifteen eighties the russians had only just conquered siberia taking it from the muslim. surrounded by enemies the balls to be their stronghold constructed on top of the city but soon enough it became an economic hub siberian oil of its time bringing in a third of all russia's state revenue but the balls location head of the says for the russians are. to moscow's one of the most popular places to send political dissent is not any people were exiled that once a giant bell that was used to incite riots was supposed to set a three hundred ten. the russian aristocrats who led a revolt against the tsar and eight hundred twenty five known as the decembrists worse than hare and drove. there they created a replica high society adopting the latest fashions as soon as they came out or at least once they made it from paris to siberia. but the city also served up some

bitter irony for the russian royal family after the bolshevik revolution. this is the office was nicholas the second spend most of the last year of his life his whole family had been exiled here and they were the fairly comfortable existence this was a big house but they weren't allowed to see visitors or go outside themselves most leading the ordinary normal countryside life style they even had thoughts of escape but within the year bizarre and his family would be dead. the ball school never again its political significance but the streets will always go with a glorious past and the like to provide the livelihood first inhabitants in the future.

my guest today is william binney whistleblower former national security agency official he was one of the first to reveal the agency's massive domestic spying program mr binney revealed that n.s.a. sought and received access to telecommunications companies domestic and international billing records that it has intercepted somewhere between fifteen to twenty trillion communications mr binnie also claims that in order to cover its warrantless surveillance the agency concealed it under the patriotic sounding name terrorist surveillance program mr beaty thank you so much for coming in light of the patriots slash alan scandal while the public is so focused on the details of their family drama one may argue that the real scandal in this whole story is the power. of the surveillance state i mean if we take general allen

thousands of his personal e-mails have been sifted through private correspondence i mean it's not like any of those man was planning an attack on america does it prove does this scandal prove the notion that there is no such thing as privacy in a surveillance state. well yes that's what i've been basically saying for quite some time is that the f.b.i. has access to the data collected which is basically the e-mails of virtually everybody in the country. and they have it at the f.b.i. has access to it all the congressional members are on on the surveillance to it's not no one's excluded they're all included so yes this can happen to to anyone if they become a target for whatever reason. if they were targeted by the government the government can go in with the f.b.i. or other agencies of the government can go into that database pull all that data collected go down on them over the years and reanalyze it also retroactively

analyze everything they've done over the last ten years at least it's not just about those who could be planning who could be a threat to national security but but also those who could be just it's everybody i thought the narrative device simply takes in the entire line so it takes all the data. in fact they advertise the way they advertise they they can process the lines at session rates which means ten gigabit lines that's the nearest. not the s.t.s. sixty four hundred but the i forget that this is another device that they have that does that but it does a ten gigabit ten gigabits that's why they're building bluffdale because they have to have more storage because they can't figure out what's important so the storing everything there so all the emails going to be stored there for the future but right now it's stored in different places around the country but it is being

collected in is that has f.b.i. has various into it collected in ball quick valley even requesting. providers and then what about google you know releasing that it's this biannual transparency report and saying that the government's demands for personal data is at an all time high and for for all of those requests in the u.s. google says they complied with the government demands ninety percent of the time but they're still saying that they are making the requests it's not like it's all being funneled into into that storage what do you say to that well i would assume that that's just simply another source of the same data that they're already collecting. mark klein in his declarations in the court about the eighteenth the facility in san francisco documented the n.s.a. room inside that ace t.n.t. facility where they had naris devices to collect data off the fiber optic lines inside the united states so that's kind of

a powerful device that would collect everything that was being sent it could collect on the order of one hundred over one hundred billion one thousand character e-mails a day one device. so that that gives you an idea of the magnitude of the kind of collection that's going on well we are saying they sift through those are healing in so billions of e-mails i wonder how do they prioritize i mean is it like foreign nationals first what what's the how do they prioritize how do they i think trip i don't think they're well first of all i don't think it's really filtering they're just going to store it all ok so then it's just a matter of selecting it when you want it so if they want to target you they would take your attributes and go into their database and pull out all your data that's what i was going to ask are they reading my e-mail. i should say there is no yes ghana's then generally my e-mail. do you think now that i said that they will stop looking into my help but i don't think they will make any difference no if they

have they had you on the target list you're on the list or are you on target and i'm sure i i i believe i've been on it for quite a few years. so i keep telling them everything i think of them in my e-mail so that they when they read it they'll understand what i think of them do you think we should all like leave messages for the other let's say you know mailbox sure mr binney you blew the whistle on the agency when george w. bush was president with president obama in office in your opinion has anything changed that the agency in their surveillance program what in what direction is ricin ministration taking program changes that it's getting worse. they're doing more that's why they i mean he is supporting the building up of the buff they'll facility which is over two billion dollars they're spending on story john of data so that means that they're collecting a lot more now and they need more storage for it so that that facility by my

calculations that i submitted in a sworn affidavit to the court for the electronic frontier foundation lawsuit against innocent. would hold on the order of five thousand exabytes or five zeta bytes of data just a current storage capacity that's being advertised on the web that you can buy currently and that's not talking about what they have in the near future ok so what are they going to do with all of that ok they're storing it why should anybody anybody be concerned well if you ever get on their enemies list like a train as did or for whatever reason then you can be drawn into that. surveillance do you think they were general petraeus who was idolized by the same administration when general allen well there's certainly there's certainly some questions that have to be asked like why would they targeted to begin with. what law were they

breaking or what probable cause did they have in beginning and even still just over trey as i was so one would argue that ok they could have been there could have been a security breach or something like that with but with general allen i don't quite understand because what they were looking into his private e-mails of took to this to this woman and well this is that's the whole point you know the whole point is what president was there is a telling and why did they i'm not sure what the internal knowledge like this is yeah well that's part of the problem this government doesn't want things in the public that it's not a government or a transparent government so they whatever they're doing whatever reason they had the motive and whatever the motivation was i'm not privy to it so i don't really know but i certainly think that there was something going on the background that made them target those fellows i mean otherwise why would they be doing it there is

no crime there it seems that the public is divided between those who think that the government surveillance program violates their civil liberties and those who say i have nothing to hide so why should i care what do you say to those who think that you're concerned that the the problem is if the if they think they're not doing anything that's wrong they don't get to define that the central government does they do the central government defines what is right and wrong and whether or not they target you so it's not up to the individual to even if they think they're doing something wrong if their position on something is against what the administration has then then they could easily become a target tell me about the most outrageous thing that you came across during your work at the n.s.a. well. the violations of the constitution and any number of laws that existed at the time. that that was the that was the part that i could not be associated with

that's why i left there they were building social networks on who who is communicating and with whom inside this country so that your entire social network of everybody of every us citizen was being compiled over time so they're taking it from one company alone or roughly three hundred twenty million records a day that's over time that that's probably cumulated up to close to twenty trillion over the years the original program that we put together to handle this to be able to identify terrorists anywhere in the world. and alert anyone the that they were in under jeopardy would have would have been able to do that by encrypting everybody's communications except those who were targets so that in essence you would protect their identities and the information about them until you could develop probable cause and then once you showed probable cause then you could

do a de crypt and target them and we could do that and isolate those people all along that wasn't a problem at all there was no difficulty in that but it sounds very difficult and very complicated easier to take everything and then it's it's easier to use the graphing techniques if you will of the relationships for the world to filter out data so you don't have to handle all that data and it doesn't it doesn't burden you with a lot more information to look at then you really want to look then you really need to solve the problem so do you think that the agency doesn't have the filters now no. you have received a callaway award for civic courage i congratulate you on the website in a press release it says it is awarded to those who stand up for constitutional rights and american values that great risk to their personal and professional lives. under the code of spy ethics i don't know if there is such

a thing i assume not your former colleagues they probably will look upon you as a traitor how do you look back at that oh that's pretty easy they're violating the foundation of this entire country what our entire foundation of what how why this entire government was formed was founded with the constitution and the rights given to the people in the country under that constitution they're in violation of that and under executive order one three five two six section one point seven governing classification you cannot classify information that just to cover up a crime which this is and that was signed by president obama also president bush signed it earlier executive orders very similar one if any of this comes into the supreme court and they rule it unconstitutional then the entire house of cards of the government falls what are the chances of that what are the odds well the

government's doing the best they can to try to keep it out of court and of course we're trying to do the best we can to get into court. so we just thought it deserves a a ruling from the supreme court ultimately. the court is supposed to protect the constitution all these all these people in government take an oath to defend the constitution and they're not living up to their oath of office thank you thank you for the main. question is that so much of a given to you each musician is apparently trying to hide from the mark when the carnage continues in gaza and israel claims its home army to the gazans using self defense at the same time denying the palestinians.

will come to the. good of the world pass you by as the best and brightest take mites gather in moscow some came to work while others came to play to get up close and personal with devices that recreate masterpieces and scan russian treasures from inside and from space to keep us safe from oil spills and forest fires unleash your inner gadget geek as i see me just search for the next big thing in the computer world and rushes over the giants won numerous goodies cooping to take the fight straight to their creditors known jim de here on on t.v. we've dumped the future of coverage. she didn't sorrow. for escape. barely surviving longing for a godsend. they live in

a search for gold. why doesn't it bring them wealth. the for. the. rich brighton if you knew about sunderland from funds to freshen.

stunts on t.v. don't come. on what . the look and. little. and and and and. hope. and.

all. right you know. it wasn't. you can. only do it through the. blue the social change you can be the afghans themselves afghan men and women. and. people in the field. how much they care about the women of afghanistan it's not true they don't care about the women of afghanistan.

you know sometimes you see a story. you think you understand and then something else. and realize. you don't know.