workers the threat of lawsuits may be the only way to stop the cycle of abuse in washington justin underhill well on top of that young adults entering the job market may have seen their pay shrink over the past five years and that doesn't bode well as student loan debt has reached record highs and now this is saddled a generation with decades of usury is responsibility so joining me now to talk about the currency in the banking system is ellen brown author of debt and more recently the public bank solution allan thank you and thank you. for talking about that let's talk about the largest purchaser of u.s. debt that would be the federal reserve and it's actually not so federal their website has a dot g.-o. v. address that would be dot gov but there are twelve reserve banks and they have dot org addresses so is the federal reserve public or private or both what's a bill. the federal reserve is composed of twelve branches which are one hundred percent owned by the banks in their district we the taxpayers do not own one single share of any federal reserve bank they have federal reserve board is

price manipulation by high frequency trading for more of this we turn to prime interest producer justin underhill justin can you tell us a little bit about this gold manipulation sure well right now we have a graph of december two thousand and thirteen gold futures specifically over time a few milliseconds before ten am just a few milliseconds after ten am and this is the i have found non-manufacturing index which was released on august fifth now we have also on this and we have thirteen the range of gold prices from thirteen zero six to thirteen zero nine and that's the price of these gold futures now this report was released at ten am the i have some report on the fifth and what we can notice is that this report is an economic indicator it tracks economic output of over four hundred u.s. firms and we see right here that in the just a few seconds or excuse me milliseconds before the report was released there were massive fluctuations in the gold futures price we can attribute this to the use of high frequency trading algorithms the i as them does not release its reports to anyone before ten am s

about one hundred thirty basis points so for more on this we turn to prime interest producer justin underhill just seen how does this have international consequences well when treasury yields increased the spring it affected something known as the carry trade and this is where investors borrow at low rates from countries like the u.s. or japan then they exchange the currency and invest in other markets that yield a higher rate such as indian bonds and a pretty straightforward way to make a good return on your investment but good things don't last forever this year when treasury rates rose and the u.s. dollar strengthened against certain currencies investors were forced to undo the carry trade and it became. profitable using india as an example i'm doing the trade in decrease the demand for indian rupee against the us dollars and the demand for. for dollars wrote and this created a self-perpetuating cycle as the u.s. dollar went up more and more investors were squeezed out of the carry trade driving the rupee down and in this graph we have of the carry trade showing us dollars to india and to

internships may have some unintended consequences for income inequality so prime interest producer justin underhill has more on a recent lawsuit it may just change the landscape of unpaid internships. i'm going to keep on making the case and fighting for the fact that we need to raise our minimum wage because right now. but for hundreds of thousands of students and young adults raising the minimum wage won't change their income because they are unpaid well i feel like i've been doing unpaid internships and before i can remember i mean it's really for experience especially on the hell you have to do unpaid internships to get a job that's just the way it goes here however a recent court case may have changed the future of unpaid internships at least in the for profit sector eric glad was an intern for fox searchlight pictures but his unpaid work on the movie black swan was nothing like what he expected big county office the county department for black swan had four full time paid employees and me so as the clerk i was in charge of paperwork purchase order receipts by coincidence in april two thousand

workers the threat of lawsuits may be the only way to stop the cycle of abuse in washington justin underhillr.t. all right well that's going to do it for now i'm megan lopez i'll see you right back here at eight pm. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything you. are is a big. if it possible to navigate economy with all the details to just take information and media hype will keep you up to date i do.