s business secretary vince cable as compare the bank of england to the taliban and to the hottest vince made this comparison not because of their reckless quantitative easing nor because of their overlooking bank fraud and infinite retired profit cation that is to say because they are indeed terrorists now vince cable saying that the bank of england are jihadi he's for insisting banks have minimum capital reserves vince. old boy as i've said for use the bank of england are indeed like the taliban but only because they provided the safe haven for the jihadi of banking fraud who strapped on the debt packed suicide vests and blew up the entire frickin economy. and that same taliban central bank is now papering over the bloody aftermath with little pieces of digital paper that explain more we turn to stacey or well max first of all i did look at jihad and i'm sure the n.s.a. knows i looked it up on google and the definition provided by google was that it's a war of struggle against believe hers so this is important for the rest of this episode this notion of unbelievers which i think we sho

keep the price suppressed over those two or three months you're saying you're confirming the bank of england is one hundred thousand ounces sure no one hundred thousand four hundred ounce bars. one third period of time is thirty hundred thirty five hundred yards you're confirming that bank of it in a big event of course was already bailed out goldman sachs under gordon brown well he's done three hundred tons so they say so they say ok so they've already been involved in a scandal and well the bank of england has always had a management position in the london bullion market of that there is no doubt at all and the bank of england if you look back through the only two made it out you saying thirteen hundred does thirteen hundred times yes ok so if they would also have that means that they would be in a position that they have sold gold that is not actually owned by the sovereign state of britain we've only got three hundred ten tonnes right exactly. but the surrogates are still in germany says we want our gold back but the best thing you know we'll give a piece seven years is because they sold

tonnes so they say so they say ok so they've already been involved in a scandal and well the bank of england has always had a management position in the london bullion market of that there is no doubt at all and the bank of england if you look back through the only time i don't know about you saying thirteen hundred dollars thirteen hundred tonnes yes ok so if they would also of that means that they would be in a position that they have sold gold that is not actually owned by the sovereign state of britain we've only got three hundred ten tonnes right exactly. but the surrogates are still in germany says we want our gold back but they both think you know we'll give it to you seven years is because they sold their gold they're sold all these other countries gold no hold on hold on a minute we used to the bank of england again this is all in their accounts going on way back used to run site accounts in other words bullion held for other banks our central banks was on the balance sheet that was run off around about two thousand and five and two thousand and six was the first year when they star

barclays royal bank of scotland lloyds to take out a loan if i want to the bank of england and i was one of these banks and i borrowed a million dollars i borrowed a million dollars it wouldn't cost me any interest rate of all at all at one go they charge me five thousand percent at the bank of england they pay me two percent they pay me to borrow money that's the difference though many aspects of wires are those huge wealth and income gap in the u.k. and around the world well because if you're on the inside you get paid to borrow money if you're on the outside of this interest rate apartheid wall then you get charged five thousand percent to borrow money is it any wonder the entire world is rising so that they conclude this thought experiment is saying that basically they won't be able to unwind without threatening entire financial stability of the store soon if i put a gun here and said give me all your work. and then you on the b.b.c. and say wait i'm going to think well i think that because i'm bothered by what the did they got to make that the do the job they did it just means ef

you could indeed view mark carney the new head of the bank of england as a sort of pole dancer enticing you to take would cash remains in your pocket and stuff it in the collective g.-string of the banking system only in this case what the string wearing financial system flushes back to you in exchange for your hard earned cash is a lot be don't be don't believe bottomed and toxic capital market that let's face it isn't really all that appealing to look at no best you close your eyes stacey. yes max you know mark carney we gave him two days before we started talking about him because he started this week at the bank of england and of course the reason why he was brought in is not only because mervyn king was leaving but the sense is that he's going to rescue the financial system that collapsed along with lehman brothers back in two thousand and eight now lehman brothers dick fuld is in the news in a sort of pole dancing kind of way folds tiny stock is a penny from heaven and this is according to the f.c.c. filings have matrix advisors which he and his wife run he is a part owner of guy

like the definition of a pole dancer and you could indeed be a mark carney the new head of the bank of england as a sort of pole dancer enticing you to take with cash remains in your pocket and stuff it in the collective g.-string of the banking system only in this case what that g.-string wearing financial system flashes back to you in exchange for your hard earned cash is a be don't be believe bottomed and toxic capital market that let's face it isn't really all that appealing to look at know best you close your eyes. stacey. yes max you know mark kearney we gave him two days before we started talking about him because he started this week at the bank of england and of course the reason why he was brought in is not only because mervyn king was leaving but the sense is that he's going to rescue the financial system that collapsed along with the lehman brothers back in two thousand and eight now lehman brothers dick fuld is in the news in a sort of pole dancing kind of way folds tiny stock is penny from heaven and this is according to the f.c.c. filings of matrix advisors which he and his wife

that's what the bank of england. walter bagehot wrote a book about and that establish some of the doctrine of what central bankers have been doing since 200 years since. you're the lead of last resorts your you lend freely at ability rate. you stand ready to make money available when it is otherwise not. it's not a seamless progress of, for the good when you look at its history. a lot of you probably know the stories of the 1920s what happened in germany. the power of the central bankers use and it sometimes misused. so this is a prime example. after world war i there's reparation payments the german government is supposed to make. and a mannamed rudolph was the central bank for germany in the early 1920s and he saw it as his priotic duty to print money, however much was needed fund the government to meet its obligations. you can imagine how the story ends. you just print without regard what happened to the price level. it becomes an inflationary force. he had this odd obsession with physical technical job of printing

old boy as i've said for years the bank of england are indeed like the taliban but only because they provided the safe haven for the jihadi of banking fraud who strapped on the debt packed suicide vests and blew up the entire frickin economy. and that same taliban central bank is now papering over the bloody aftermath with little pieces of digital paper that explain more we turn to stacey or when max first of all i did look at jihad and i'm sure the n.s.a. knows i looked it up on google and the definition provided by google was that it's a war of struggle against unbelievers so this is important for the rest of the episode this notion of unbelievers which i think we should return for the west as disbelievers nobody believes their lies and fraud anymore vince cable calls bank of england capital taliban vince cable has stirred tensions within the bank of england by apparently comparing policy makers to the taliban over restrictions imposed upon banks well first of all let me say something which is that i coined the term financial terrorists and now here comes vince cable glomming onto m

meanwhile, there's a new man who's not english at the bank of england. s the governor today. as helier reports, expectations are high that the former head of the canadian central bank can help turn around the british economy. ♪ >> reporter: today a canadian is going to become one of britain's most powerful men. after 319 years, the bank of england governor is going to be a foreigner, mark carney. like his hero, ice hockey legend wayne gretzky, carney has been billed as the great one, even the best central banker in a generation. but with uk growth stunted and banks still in turmoil, the incoming governor will have to put his game face on to thaw the ice. ever since the chancellor chose carney as the new governor, he's been seen as the ultimate dove, happy to use and perhaps overuse quantitative easing even if it all makes us all feel a little too sick. back home in canada the gloss has started to come off a bit with the housing bubble caused by low interest rates, the housing in canada is the third most overdeveloped. in the uk, we've already had 375 bill

people did scare out of the gold but instead they did the opposite they were physical gold on the bank of england is as a liability here a huge liability correct of these billion banks they're going to be insolvent yes or no yes or no and the bank of england has to step in on a daily basis fixes and make up any shortfall out of the six hundred tons of gold cleared by the o.p.m. c.l. every day and the five thousand tonnes of silver incredible amounts but that's what trades through the b.m.a. every day they step in when people actually have the audacity to offer their physical this discount the bank of ling has to england has to step in and provide that bullion on a short term basis well in the bank of england and the treasury and george osborne when they failed to match the books at the end of the day and there's left over doesn't that just get through the circuitous nature of these inciting deal doesn't just end up on the debt of the u.k. absolutely and they're going to stroke an electronic check. and they're going to pay everyone off and anyone that hasn't got a physical the reason i don't offer

bank of england found their independence on the fourth of july. during the press conference, jeff pressed mario draghi on forward guidance. >> you were meeting another central bank in london was also having a meeting of its policy members. and in a break with previous tradition, we had a very clear forward guidance from mr. carney, the new governor. i wonder if because the bank of england has now changed its style on guidance it's time for the european central bank to also step forward with a new policy on guidance? it's clear from mr. carney's comments in the market reaction that he's moved the gilt market, moved the sterling curve. is it time that you put aside the precommit barrier to more detailed and specific forward guidance? >> thank you. if you ask this question, you haven't really listened to my statement. the -- >> sounds a lot like the statement i listened to when i was here in june. >> that's why i said you haven't listened carefully. the counsel took the unprecedented step to give forward guidance in a rather more specific way than it

melanie banker is in the camp that we would see the bank of england governor vote against qe. u expect the rest of the board to go with him? >> no, i didn't. we were in the camp looking for a 7-2 vote. it is certainly a surprise in that sense. but i would be interested in the overall tone of the minutes. you said some of them still thought some stimulus would be necessary. what alternative measures are they looking at? and i would still think we are going to get some form of forward guidance from them in august. >> some of the commentary says they're a group of members open to further qe believe it is not required now. what do you think would change to make the board vote in favor of qe? >> i would have to be a deterioration of data. the income data has been quite strong in the uk. the one thing that has been apparent has been higher bond yields, that's been increasing risk to the outlook going forward if you like. so in terms of more qe, i think it would either have to be a very sharp rise in bond yields accompanied by perhaps some worsening in some of the data, i think. but o

willing sellers because goldman sachs got caught short dumping paper gold absolutely so then the bank of england bailed him out blanketing the boat and now we find out for miles to mcleod was on ties report just recently saying that bank of. you have gone missing and you're saying if i connect all the dots here that was sold into the market to take care of these other billion banks including goldman doing the exact same thing all over again doping paper money hoping that they would get people to scare out of the gold but instead they did the opposite they were physical gold on the bank of england is as a liability here a huge liability correct on these billion banks they're going to be insolvent yes or no yes or no and the bank of england has to step in on a daily basis fixes and make up any shortfall out of the six hundred tons of gold cleared by the o.p.m. c.l. every day and the five thousand tonnes of silver incredible amounts but that's what trades through the b.m.a. every day they step in when people actually have the audacity to offer us their physical this discount the bank availing has t

the rate of interest is negative another word they pay you to take out a loan if i go to the bank of england and i was one of these banks and i borrowed a million dollars i borrowed a million dollars it wouldn't cost me any interest rate of all at all at one go they charge me five thousand percent at the bank of england they pay me two percent they pay me to borrow money that's the difference does any aspect of wires or those huge wall think of gap in the u.k. and around the world well because if you're on the inside you get paid to borrow money if you're on the outside of this interest rate apartheid wall then you get charged five thousand percent to borrow money is it any wonder the entire world is up rising. the u.s. congress has given the intelligence community and ultimatum scale back the mass surveillance or lose power entirely if this happened at a house judiciary committee hearing or across party lawmakers have demanded a greater accountability although some doubt that they will make good on that threat among those is cindy coaches the legal director for the electronic frontier found

bank of england r g hardy's for insisting banks minimum capital reserves. the bank of england are indeed like the taliban but only because they provided the safe haven for the. banking fraud strapped on the debt pact suicide vests and blew up the entire frickin economy. and that same job and central bank is no papering over the bloody aftermath of little pieces of digital paper. the u.k. government is opening up a new front in its struggle to deal with illegal immigration violence carrying signs urging immigrants to seek free advice on how to go home to appear on the streets of london and this isn't the first initiative like this the fight against immigration begins beyond britain shuls a previous had written is in campaign aimed to stress the negative parts of life in britain hoping to turn off potential immigrants from the e.u. from november a pilot scheme will see those who do arrive from countries deemed high risk have to pay a three thousand pound bomb to and to britain to be returned only when they leave and here are some questions from the new citizen

people told me they're in meetings of count as a reserve, bank of england, european central bank. that's basically what counts. of course, everyone is very polite to each other. the manager of the bis has been working on his hospitality for many years. all the governors get their own office, dedicated office which they just used for two or three days come those two or three days every couple of months. and all the secretaries staff they want. your second question is really great. firstly, especially if you have a senior level, you are sort of, i mean not diplomatic status but you've got privileged status. and you get paid a lot and it's actually. so general manager i think, i mean perhaps kind of joking, it's not all that much. last year i think made 850,000 euros, tax-free, which is, what, allowances.llion or something. and there's about 600 people working there from 50 countries, and people like working there because there is also, it's sort of like the u.n. a bit of nation. they do some good work. it provides services for small central banks that don't have the expertise, does f

that the bank of england r g hardy's for insisting banks minimum capital reserves. vince then sven is all boy as i've said for years the bank of england are indeed like the taliban but only because they provided the safe haven for the jihadi of banking fraud who strapped on the debt packed suicide vest and blew up the entire frickin economy. and that same taliban central bank is now papering over the bloody aftermath with little pieces of digital paper. why walled up a time here a nazi straight to spain we go to some devastating seems to show you where at least seventy seven people have been killed on high speed passenger train derailed in the northwest of the country over one hundred thirty others injured some critically it's being labeled one of europe's worst ever rail disasters the crash happened on a curve in the track report suggesting the train could have been moving three highest officials were quick to rule out sabotage or terror. and to iraq where at least twenty two have been killed dozens injured in a spate of attacks and bombings in the deadliest assault

they charge annual to five thousand percent if you're one of these bankers dealing with the bank of england mark carney's new shop then the rate of interest is negative another word they pay you to take out a loan at one go they charge me five thousand percent at the bank of england they pay me two percent they pay me to borrow money that's the difference though the only assets of wires are the huge wealth and income gap in the u.k. and around the world well because if you're on the inside you get paid to borrow money if you're on the outside of the interest rate apartheid wall then you get charged five thousand percent to borrow money and then you go on the b.b.c. and say when we haven't had one with me but nick i'm bothered by what the got to look at the value of the back to the dictates of my vision my career you know i'm not backed by a poster i mean those things and if i can i would. it's fraud f o r a q d.v. fraud. and civil rights leaders have called the acquittal have george zimmerman florida neighborhood watch volunteer who killed black teenager trayvon martin last year a setback f

analyze rates of interest of five thousand percent if you're one of these bankers dealing with the bank of england mark carney's new shop then the rate of interest is negative another word they pay you to take out a loan at one go they charge me five thousand percent at the bank of england they pay me two percent they pay me to borrow money that's the difference though than the assets of wires out of the huge wall think of gap in the u.k. and around the world well because if you're on the inside you get paid to borrow money if you're on the outside of the interest rate apartheid wall then you get charged five thousand percent to borrow money and then you go on the b.b.c. and say well we are going into effect well nothing but mckibben but i'm of the got to make that the do the do the do it just means efficient market here you know i'm not backed by a post and you think it's only. if fraud f. or a you dig for. the u.s. government is facing domestic pressure over a controversial court ruling that sparked mass protests police officer george zimmerman faced second degree murder charges over the killing

s business secretary vince cable as compared the bank of england to the taliban and to the hardest. made this comparison not because of their reckless quantitative easing nor because of their overlooking bank fraud and infinite rehab cation that is to say because they are indeed terrorists now vince cable is saying that the bank of england are jihadi for insisting banks have minimal capital reserves then. as i've said for years the bank of england are indeed like the taliban.

the bank of england are jihadi he's for insisting banks have minimum capital reserves then then this is all boy. surgery use of bank of england are indeed like the taliban but only because they provided this safe haven for the jihadi of banking fraud who strapped on the debt packed suicide vest and blew up the entire frickin economy and that same taliban central bank is now papering over the bloody aftermath with little pieces of digital paper. or before we get to the r.c. world update finale put our attention to cuba as the us senate has held a hearing on the closure of guantanamo bay prison for the first since two thousand and nine five years though after obama's pledge to actually close the prison down now many detainees will actually have their cases reviewed by a special panel which will decide whether they should remain behind bars most have been charged with any crime due to an overwhelming a lack of evidence but they were still considered too dangerous to be released this report to r.t. correspondent this while. this is the first significant congressional hearing that has bee

analyze rates of interest of five thousand percent if you're one of these bankers dealing with the bank of england marconi's new shop then the rate of interest is negative another word they pay you to take out a loan at one go they charge me five thousand percent at the bank of england they pay me two percent they pay me to borrow money that's the difference though the only assets of wires are the huge wealth and income gap in the u.k. and around the world well because if you're on the inside you get paid to borrow money if you're on the outside of the interest rate apartheid wall then you get charged five thousand percent to borrow money and then you go on the b.b.c. and say well we are going to think well nothing but look at the bottom of the got bit make that the value of the back to the dictates of my vision my dear you know i didn't actually buy a post i mean i think that if i can i would. it's broad. and it's a whistleblower edward snowden could be looking to settle in russia at least in the medium term the man who exposed america's global surveillance network said he does not rule out apply

of the banking system here. no doubt we'll get a sense of that. more importantly in the interim, the bank of england'sme today with mark carney. what will the canadian bring to the table? we'll discuss that coming up next. Ñ >>> the bank of england delivers monthly policy decision today, first on a new govern are mark carney. it is widely expected the central bank will not move on policy until at least august. at recent meetings, three of nine members voted for more stimulus, but markets will have to wait for another two weeks until it is known what direction carney favors to get the uk economy moving again. joining us from toronto is eric lasalle and in the studio, jeffrey diekstra. and hillier is staying with us as well. jeffrey what is the task of carney as the data is improving in his first week of office. >> he's come in with high hopes. the chancellor has given him a remitt this is tended to be growth friendly. the pmi survey this week was very strong. the british traders of commerce said the economy is looking good. some of the survey data, the best we had since 2007. >> eric, come in here, be

saying that the bank of england are jihadi for insisting banks have minimal capital reserves. vence then sven is all boy as i've said for years the bank of england are indeed like the taliban but only because they provided the safe haven for those he hardy's of banking fraud who strapped on the debt packed suicide vest and blew up the entire frickin economy . and that same taliban central bank is now papering over the bloody aftermath with little pieces of digital paper. and i why give you a preview of the kaiser report and we can give you the whole program right now live from moscow it's on. boy oh boy there are a lot of conspiracy theories out there for a mysterious extra planet strip kilian creatures living among us but there also may conspiracy theories that are very plausible and some never will actually true one that i've heard for a long time is that they are specifically trying to fill the police with dimwits to abuse the american people which is silly right right well according to a.b.c. news the discrimination lawsuit revealed that robert jordan was denied the chance

the bank of england are jihadi for insisting banks have minimal capital reserves. then then this is all boy as i've said for years the bank of england are indeed like the taliban but only because they provided this safe haven for the jihadi of banking fraud who strapped on the debt packed suicide vests and blew up the entire frickin economy and that same taliban central bank is now papering over the bloody aftermath with little pieces of digital paper. are nearly time for the aussie walt update but for now the u.k. government is opening up a new front in its struggle to deal with illegal immigration vans and carrying signs urging immigrants to seek free advice on how to go home to appear on the streets of london and this is not the first initiative like this for example the fight against immigration begins beyond britain's shores previous advertising campaign aimed at stressing the negative parts of life in britain hoping to perhaps ward off potential immigrants to the e.u. from november a pilot scheme to see the need to do a ride from countries are deemed high risk

other words they pay you to take out a loan at one go they charge me five thousand percent at the bank of england they pay me two percent they pay me to borrow money that's the difference those any assets of wires or those huge wealth and income gap in the u.k. and around the world well because if you're on the inside you get paid to borrow money if you're on the outside of the interest rate apartheid wall then you get charged five thousand percent to borrow money and then you go on the b.b.c. and say we are going to think well nothing but look at them but they're going by what the got the do the do the do it just means efficient markets theory you know i'm not backed by a poster i mean those things i did i would. it's fraud. in northern ireland unionists are planning yet another parade in belfast this despite a recent series of street clashes with nationalists the orange order has apply for permission to hold a march this weekend sparking accusations that it is deliberately stirring up confrontation archie sara furthur reports on the international efforts to ease the standoff. well the full no u

analyze rates of interest of five thousand percent if you're one of these bankers dealing with the bank of england mark carney's new shop then the rate of interest is negative in other words they pay you to take out a loan at one go they charge me five thousand percent at the bank of england they pay me two percent they pay me to borrow money that's the difference though then you have to stop wires or there's a huge wealth and income gap in the u.k. and around the world well because if you're on the inside you get paid to borrow money if you're on the outside of the interest rate apartheid wall then you get charged five thousand percent to borrow money and then you go on the b.b.c. and say when we are going to fred well let me put mckinnon both of them i'm of the got to look at the do the do the dictator things efficient markets here you know i've got that by your post i mean do you think it's a right that would. it's fraud f o r a you do the frog. now and it's a blower and the word snowden could be looking to settle in russia at least in the medium term the man who exposed america's global survei

. >> the bank of england also decided to maintain its key rate at a record low of 0.5%. and the bank will keep the size of its asset purchase program at 375 billion pounds. the decisions were made at the first board meeting under the new governor, mark carney. >>> now let's see how european markets are reacting to the announcement by the ecb and bank of england. looks like a rally in the stock market. london's ftse gaining by 2.76%. the dax ip almost 2% and the cac40 in paris up almost 2.2%. turning to currencies. the yur plunged more than 0.6% against the dollar after draghi's news conference. taking a look at the euro/yen, $/yen at 100 to .04 to .05. the governor likes what he sees. karodu says the program of pumping money into the system is having a positive impact and will pull the country out of deflation. he spoke at a meeting of the bank's 32 branch managers. he says the economy is picking up. he expects domestic demand to grow as a result of the bank's monetary easing measures and the government's stimulus efforts. the boj chief says the economy is heading for a m

is composed of the board of directors which is basically the governors of the federal reserve, bank of englandbank of france. and india and brazil. dis general manager. that is the elite meeting where a lot of the discussions have gone on about coordinating the response to the global financial crisis. those are 18 of them in that. of fine dining room on the 18th floor. at fabulous dining room. use of france and switzerland and germany. very global as befits a global institution. the next date that is the global economy meeting, and that is 30 countries, and then you have countries like turkey and the philippines and indonesia that will attend as well as the 15 or 18 that would have the previous night. and they sit around the table. in another 15 countries are allowed to attend the meeting but are not really supposed to speak unless it is really, really urgent. countries like hungary, for example, or macedonia. they are allowed to attend, but they don't talk. or no -- actually, macedonia is not allowed to attend. the final 15, the third division, they're not even allowed to attend a global econ

of nazi gold and did at love foreign exchange deals with the bank. it was a thoroughly comprised institution. but getting comprised with the bank of england and treasury and everybody else. and britain -- there was a lot of pressure to shut the bank down. we don't want this institution anymore. what ended up happening is the resolution past saying the bank should be shut down at the earlier possible moment. when was that? no date was set. the bank survived. one of the bis is brilliant of doing, it has been since it was born in the 1930 reinventing itself. after the war, there was a sense, there's an argument for this. you have to get the global economy up and running. we have to start making and selling thing. countries have to start trading. we need somewhere to be the to call focal point of this. t only a year old or whatever and the world bank. the bis is there's. it has a lot of experience. they have contacts all over the world. the bis survived in the next phase over the next few decades, basically until the 1990s the bis hosted all of the prepare work on technical and secretarial work for the preparation of the euro. that's how it k