it starts with our in-house trader here i'll say that's all to come but let's get started with us. because the official figure of sixteen trillion dollars seemed warningly high according to a study by the university of california america's debt is actually four times higher seventy trillion dollars so how much does that sum equate to this compared to the world's most valuable company apple say we gave them now as you can see this official figure equates to foresee apple empire as bar professor how much and studies found that the u.s. has over seventy trillion dollars of unaccounted for debts which would make up a total of one hundred sixty five apples but it turns out that even seventy trillion may be an understatement a former economic adviser for president ronald reagan professor cortical of says it could be as much as two hundred and eleven trillion or five hundred times the world's most valuable company i asked author street smarts jim rogers if he was

surprised by the findings and how much longer such extraordinary debt levels can be sustained i am not proud to appear by book or three one three more about that yet situation is us. there is really you trillion if you get out the people who don't there are thirty to three hundred trillion you are really there is no way that america can ever tell you this is not going to affect the market anytime soon but eventually when we start having problems in the financial markets everybody is going to be focused on it they're going to know that americans are going to and it's going to produce more turmoil in the financial markets credit markets. the currency markets are going to affect all of us in a huge way and moving on to bankers salaries the latest data from the european banking authority is like. to insinuate the average citizen struggling to make ends

meet in these times of tough budget cuts the figures reveal that the bank is at the ferry heart of the crisis three thousand of them are taking home more than one million years a year in pay and bonuses but most of that cash is being dished out in london's financial center accounting for three quarters of the seven figure salaries in the e.u. germany came in second with one hundred seventy bankers receiving one million years or more and france came in third with one hundred sixty two so as you can see there's a huge difference between loaned and the rest of the e.u. so the question really is all of these salaries it's justified patrick young right here from t.v. advisers to give me the lowdown on this particular start right there right there if i may great to have you with us are they justified these huge fact salaries what do you reckon well one way yes they're justified before everybody switches off and

fury let me make that rather clear as to why i'm saying so the whole point of boyd bankers salaries are that they're generally paid in investment banks in relation to high much money they mean it therefore if they make more money they get a higher salary that's probably not an unreasonable principle by which to govern these things however the problem actually lies behind the scenes of what's going on here the reason at the moment despite the economic travails for the rest of europe that these bankers can make so much money is because of the shambolic force which has been government reaction to the crisis of two thousand and seven two thousand and eight first of all we had the whole situation where governments refused to let banks go bankrupt that was ridiculous all of a sudden banks became part of the government for a moment affectively second of all with a situation where the central bankers many of them former bankers themselves such as the recent arrival mr carney as the head of the bank of england these people the central bankers have simply gone. and for the last five years with

a frankly in say a policy of hounding over money they call it quantitative easing they give away are sets free money free to the banks and they say they're going to help yourselves use this money in order to manage to rebuild your balance sheets so the result is they don't lend to ordinary people they don't lend to entrepreneurs instead they take something they've been given for free they make a lot of money out of it but of course because of the rationale of bankers' bonuses because they're making a lot of money they get large bonuses what about the bonus cap then do you think that's going to work at all that's going to be introduced in london is that the answer. oh look i mean this is just an absolutely farcical example of regulators trying to do something to justify their political masters who have already managed to mess the whole thing up though they won't work we don't have bonus caps on footballers yet they get one hundred thousand euro is a week for kicking an inflated pig's bladder on the lawn why not because it's capitalism people should be allowed to earn what ultimately they can manage to make

a profit but a very reasonable and sensible assertion by which they could all end up paying more tax evasion and ultimately then helping government no doubt simply will not work all they will do is drive business out of the e.u. they'll go to somewhere like moscow where they've got a very enlightened tax regime and a growing financial center. from d.v. advisors thank you very much indeed for your time today very much appreciated. russia's controversial economic amnesty law has been back in focus this week the bill means a formal oil tycoon mikhail khodorkovsky and his business partner platter on the better of our serving in nine years sentence for foreign tax evasion charges and will now be released from prison two months early some of the economic crimes that qualify for amnesty include business fraud money laundering and tax evasion this new law has been embraced by the business community seen as a step towards making russia more investor friendly. and outside for some corporate

news the owner of russia's biggest ally minion produce to resell that a pastor is closing factories across russia i'm a ask the government for another bailout. so you provide a megaphone buys for the operators sculls hell for one point two billion dollars. and this week russia's biggest carrier air flight to made the top five list of leading airlines in europe by revenue and now it's time to check in our markets they're going to find out what's been happening to the russian markets was it move it in this way we got a ferry. thomas i'm afraid tenure is how we feel we give you ten thousand u.s. dollars today trading when an amateur but this is serious business well even if he tell us a lot about it how has the experience well there's good news and bad news as you mentioned i am an amateur so i kind of whether about this from a news approach or a commonsense approach and i figure what do people need what do they like need in

this world of metal that's one thing that makes everything go around from aluminum cans to parts for computers so i kind of took a dive because i went to the roof saw the world's largest aluminum company and you talked about a little bit there before and it tanked down seventy percent so very good at all but i'm holding faith because the metals are rallying in fact i was out in vladivostok this week and talked about looking to the east for the direction of the market china a big buyer of metals that their production is up so i'm looking to metals are going to have some faith in here but there was also some good news because i looked at the grid companies everybody means power right i mean infact our television station wouldn't run without electricity i looked at the grid companies there are quite a bit or at least doing ok so i took a bath with metals i did ok with some of the great companies this week ok good

stuff that makes bag next week he doesn't have the excuse of being a beginner and one of the best that we're going to know what is that feel slave what we got plans what it could be sacked leg right indeed ok again from a common sense approach i was looking at the banks and the central bank basically not changing the lending rate so i'm thinking the financials might be one way to look at that and whenever the financials are study that needs oil it's going to do well at least in my mind so i'm going to be looking at some well and then also cell phones right you have one i have one that we all have one people you just live off of these things and so. about murder for purchasing scarves are expecting there to do good things i'm going to go for some cell phone action for the coming week you do that soon thomas thank you very much indeed for that and check in next week we want results for the purposes of orion racial intolerance just that ok moving on forbes has been a draw says tennis superstar maria sharapova the highest paid female athlete for

the. million dollar contracts with nike racquet brand head and her own brand of sweep up of a has made a staggering twenty nine million dollars last year despite being the world's number one tennis player serino whims of the usa came in second in the cash stakes with a call twenty point five million dollars and fell a tennis players made up third and fourth place with china's lead now with an eighteen point two million dollars pay our victoria as a ring of batteries with fifteen point seven million dollars the fifth place it went to a female racing champion danica patrick just gorgeous women like it now moving on saying hold the billionaire owner of russia's most expensive football club is kind to slash the budget by two thirds mr solomon of russia's nineteenth richest

man with a fortune of seven billion dollars is planning to sell some of the world's top players to achieve his goal and as you can see the stars they do not come cheap and this is a change of tactics for mr karimov who splashed out more than one hundred eighty million dollars last season one of the reasons for his belt tightening could be down to the fact that his potash empire euro cali recently took a battering on the stock market dropping twenty percent after the collapse of the world's biggest cartel fell through it so for more on what's behind these cuts only the imp. cations on the sporty side of thing i've got the three ladies here take part it's all schools tell me what made these cuts. and i think well first of all gone are the days when angie hit the headlines by signing big name players like samuel eto and villian that seems to be all over and it's not just no longer big signings it's also means wage cuts so all these big owners will be going. reported

ten to twenty million dollars a year and it's not just the big name foreigners that we're going as well it's also russians the russian football system means there's a quota and you have to have four russians on the pitch at any one time this is pushes up the prices of the russians and their wages so they've got to go to so three internationals they've already left angi so if you don't have established players where do you get to take them from so the emphasis now is going to be on u.s. investment use development as part of the energy project mr karimov said we're going to put money in local plays in local druggist and players and encourage them and they could also be returning to dagestan because currently all angie's players live and work can train in moscow and fly to some eight hundred miles away for the home matches this looks like that could be at an end as everybody goes local or just i mean i'm not an expert as i say but just looking at the league table and the stats the goals and all of that even with all these millions they haven't done. well halfway well that's only really so far this season when the announcement came in

four games ago and so far two defeats two draws two points from a possible twelve points adrift from the top already fourth bottom however there's a tendency to look at angie and suliman kareem off and compare him with ramana promote and chelsea well you can't what am i which but chelsea it was an established established history established everything was established angie wasn't and that's face it last year they were title contenders for the first part of the season they ended up coming third there in the europa league city is running pretty impressive for a small club and now they have got to have coming back experience coach to steady the ship from korea so that of it's going to be an interesting season for us but also for angie pay-pal. thank you very much in day feel time. that sit for this week's edition of a venture capital and you can join me same paces same time next a have a great on good bye. i

would rather i asked questions to people in positions of power instead of speaking on their behalf and that's why you can find my show larry king now right here on r.t. question more. choose your language. of choice because with zero in federal going to stay still some of. us choose to get consensus getting a good. chance to get the news that invigorating to. choose the stories that impact your life choose access to your office.

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science technology innovation all the rest of elements from around russia we dumped the huge earth covered. when i've done your bush or we expose the three tricks of wall coming up. plans to split the whole middle east into micro stakes a policy called kill anything that moves. and hollywood goes too far. he ever give up you know not trick.