we get. an army of bureaucrats whose job is to make new rules and they keep making new roles all the time what are the main problems facing europe right now. the problems caused because. of our financial system because the government has created the monopoly of government employee of money creation there was a time when money was gold and when money was gold and good money was gold coins there was no inflation there was deflation in fact one one coin of gold could buy you more and more over time because. there were the production levels are rising much faster than the amount of gold in the world and that in those days there were no. depressions there were no big recessions that started when money soon started changing when people took their gold to the bank and received.

in return a bank note or research or receive in return and accounts with a credit in the account when that started happening banks became. influenced in the sense that they received an incentive to start handing out loans to people that weren't actually covered by gold they just created money out of thin air and that's what caused. inflation. and then some banks started to go bankrupt their bank runs when people found out that their bank had created so much money out of thin air that their goal backing it was so low that it became a risk to put your money to keep your money in that bank and when that happened banks started lobbying with the governments to create a central bank and the purpose of the central bank was to make rules that all

the banks now had to follow as to how much they could inflate how much money they could print out of thin air so that with that all the banks would inflate together at the same rate so that the risk of bank runs would now disappear and that's what's happened and as a result inflation has become rampant if you look at the value of our currency today compared to the value for currency hundred years ago. about ninety nine percent of the value of the currency has disappeared and that's because of inflation and that's that's because the government has allowed bangs to create money out of thin air it's a government issue privilege to the banks and the banks are happy to you to take advantage of it. and of course government is not the creation of money now only the central bank has a right to create money and central bang. yes do what is called quantitative easing which is a very nice word what it really means is. is is creating money out of thin air in

a way you could actually call it counterfeit money because what is counterfeit money it's money that isn't backed by anything that's just a worthless piece of paper but that's what the government is doing to us and we all understand that counterfeiting is a bad thing and why is it a bad thing because the counter fitter get something for nothing. and all the people who have save money lose out when counterfeiting. is allowed to occur and a lot of people start counterfeiting what it means is all the people to save their money are now losing and the counterfeiters are getting something for nothing and it's very distorted because people now receive an incentive to become kind of critism selves right to do productive work that's exactly what the government does with central banking and government has now monopoly in counterfeiting they have the right to create money out of thin air just worthless pieces of paper and as a result all the people who saved money. are watching their savings disappear there are savings become worth less and less and the and the government is getting something for nothing and it's very distorted because now

a lot of people stop doing productive work they start working for the government or they start selling services or products to the government they can become part of the military industrial complex to make money off government so it's a very distorted process and not only is the distortive but it creates the business cycle because when central banks inflates create huge amounts of money out of thin air they create bubbles and these bubbles cannot last forever they must burst and when the bubble bursts that's when we have a recession as we have a depression it is really. very comparable to a knuckle holic who drinks too much alcohol and isn't received the next day he has and he has a hangover and that's that's what basically what our recession is it's the hangover and the the money creation the credit expansion is like the the that's the also gives you and the problem that alcoholics have is that when the are getting

a hangover they are very tempted to take more alcohol because they can delay the effects of the hangover and that's what our governments are doing as well our central banks are trying to solve the crisis by printing even more money but that only makes the. problem worse in the long run it's only a very temporary measure that's only kicking the can down the road so the only real solution to this problem is to end this government privilege of crook of creating money out of thin air and go back to a situation where money's worth something ramoni is covered by something it can be gold it could be silver could be a any other thing that has intrinsic value but as long as government is allowed to keep on printing counterfeit money that's worth nothing that whose only value is based on the fact that they have a monopoly on creating it and they can put anybody in jail that is counterfeiting except themselves as long as that is the basis for money we will be in this

business cycle why should libertarian principles be used to help solve the problems in europe the free market is the best system that we have to create products and services to enrich our lives to make sure that we live long and happy and prosperous lives because the free market is a system that is based on voluntary cooperation in a free market every turns action between two or more people who requires the voluntary consent of each of the people involved and that means that they all expect to be better off their own spec to be happier as a result so as a result any turns action of free market is bound to add to the happiness and prosperity of the of the individual people involved in the transaction and when you allow an entire nation to reap the benefits of the free market everybody in the long run will benefit to become better off and lead happier more prosperous lives and government to vention always goes against that principle government pension is

based on force would you say that modern day europe has drifted away from liberty there is a lot of positive developments but there is also negative developments the pull the . were comes to privacy our right to privacy versus the government that's a right that is completely being neurotic. it over the last thirty years government has the idea that they have the right to know everything and that either we have nothing to hide in which case we don't need privacy or we have something to hide which case we don't deserve privacy so when governments built politicians talk about privacy in a new privacy laws they're always talking about how privacy should be protected amongst the people how corporations a company should be stopped from and to invade the privacy of citizens but government of engine of our privacy that's something that is is occurring more and more over the last thirty years another very worrisome development is the european union. because up until now. actually up

until one thousand nine hundred two is a better year to pick. the european. economic community the e.c. was a force for the good at the time what the e.c. did was reduced trade barriers to zero richer is to reduce terrorist as your reader reduced trade quotas to zero. and promote things like free movement of capital and people and goods and services that was a good idea at the time the e.c. was was was advancing individual liberty that's changed that project basically was finished in one thousand nine hundred two and what those european bureaucrats should have done is said ok we're our job is done let's all go home let's find a real job to do productive for that's not what happened what happens at the euro kratz have started the new project which is basically the creation of united states of europe and it's a very gradual thing it doesn't happen overnight but what we see is that they're trying to erase competition amongst member states right now we have competition

right now every member state to set their own tax rates right now every country commit to make their own rules and as a result there is competition and this competition has been extremely helpful and the euro kratz would like to reverse the process they would like to end tax competition. they would also like to end competition as with the level of regulation they would like to have a european union that sets tax rates on european level they would like to have your opinion the man has the same rules all over the european union and eradicate competition they want to stablish a cartel so freedom is lost and prosperity will be lost if that happens and that's why most of the terence are very skeptical about this project of european integration because what it really is is a cartel they're trying to form a cartel so that we can't escape them anymore we can't we can't move anymore to another country to escape high taxes thank you very much for speaking to us today

but it was a pleasure you're very welcome. i . wealthy british style. markets why not. find out what's really happening to the global economy with mike's cause or for a no holds barred look at the global financial headlines tune in to kaiser report on our. beat this is. if.

the civilized world produces more food than it needs. well people die of hunger in other countries. millions of victims every year. where a meal is the most value trade. was. is flood or droughts to blame. it was a bad year without a train. we couldn't climb anything but the one who would it all there was great hunger. is a good help comes too late and without good intentions. charity diplomacy and business for nothing.

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children from want to financials and have a special face as how it. just momma. child should live in an orphanage for a long child should be raised in a family during these years a little eleven children have been returned by adoptive families. the line to eighty percent of the children from zero or more from each place to be found. the child has brought us so much happiness.

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shots fired in the. third day in a string of anti-government protests what demonstrators claim is excessive on the part of police. european central bank in frankfurt is surrounded by barbed wire and riot police we report from the scene where several thousands have been demanding an end to. a prominent sunni cleric islamic jihad against president assad branding him an infidel worse than jews and christians just days after syrian rebels are reportedly caught smuggling sarin gas a chemical weapon banned by the u.n. . and thousands of supporters of the u.s. military whistleblower private bradley manning continue it.