up on the back of the gold standard but what about this this type of trickery by the bank of international settlements and others by us. you'll be amused to know that i was asked my opinion on the central clearinghouse about four years ago and i basically said at that point in time look the fundamental problem of the derivatives market is that there are too many derivatives notional is about six hundred to seven hundred trillion which is ten to twelve times what global g.d.p. is in a single year and that's just too much you've got to reduce it and everybody looked at me like i was insane and gave me all these reasons why that was a not correct and b. could be done and i said it's easy you just make sure that you can only have a derivative when it said genuine hate each and if that was the case the volumes would fall and all this kind of party risk which is why you need the central credibility in the first place would go away instead of that we've got this very very complicated structure that's been set up which would work because basically the first thing is it's going to be monopolized by ten to twel

end up on a back on a gold standard but what about this this type of tech read by the bank of international settlements and others by us you'll be a. clearing house about four years. volumes would fall at all this kind of party risk which is why you need several counterparty in the first place would go away instead of that we've got this very very complicated structure that's been set up which would work because basically the first thing is it's going to be monopolized by ten to twelve banks and they set up the structure they realize that will lose the battle of transparency and a few other things so what they did was to actually create this structure where they are now the gateway to the c.c.p. for everybody else and so basically it's a way of enshrining the position of the existing money center banks that's all it is but i would go one step further essentially i think until you change a fundamental assumption about the way the financial system works which is the financial system has to be supporting the real economy you can have a financial system which assumes the real economy is sort of just there

jewish settlements in the west bank are in violation of international law. the settlement are displacing thousands of palestinians and destroying their crops and homes. a roadside bomb in afghanistan has killed at least one police officer. 8 others were wounded. after a three week offensive, french and malian forces have taken a major town. people say french troops met no resistance. the interim president has ruled out negotiations with any of the rebel groups. he is considering talking to ethnic members about territorial claims. we have very poor from one of the refugee camps. >> an official of the arab movement. the border is full of people like him. fighters from some of the armed groups in northern mali. it is an era -- an unjust war in this country. >> these people have been marginalized since independence and france bears and historical responsibility. we encouraged them not to leave the issue in the hands of african countries because they cannot differentiate between terrorists and ordinary people. >> it is loosely allied to the secular movement and wa

of homes are planned for a settlement in the area. palestinians say it will be a huge blow to territorial integrity of the west bank. the camp, called a village, attracted protesters and international solidarity activists. it is a new tactic of protest against israeli settlements. activists say they will continue to occupy such areas in the future. this sudden eviction has been a clear message from the israeli government that such activity will be put down by force. >> italy has condemned an attack by gunmen in the libyan city of benghazi. a consul was fired upon as he traveled through benghazi, but was not injured. a foreign minister described the attack as an attempt to destabilize the new libya. government troops are fighting for control in syria. this video shows a nearby town with government jets bombing the area. another area in the north has been almost destroyed by government jets. the opposition members say it has been reduced by rebel -- rubble by army shelling. arab league foreign ministers are meeting in cairo to discuss the refugees in the area. tens of thousands of people have also fled to egypt. we have this report. >> two months ago, this man may be hardest decision

recent estimates by the bank of international settlements for examples suggest that the implicit government guarantee provides the largest u.s. bank holding companies with an average credit rating uplift of more than two notches, thereby lowering their efforts funding cost a full percentage point relative to its small competitors. my friend of the bank of england estimates the too big to fail local subsidy to be roughly $300 billion per year for for the 29th global institutions identified by the financial stability board as quote systemically important. to put that $300 billion in perspective, it's an annual subsidy, leos holding companies reported 2011 earnings of -- add to that the complexity of too big to fail banks. here's the basic organization chart or diagram for typical complex financial holding company. to simplify a complex structure one might consider all the operations of the commercial banking operation that little box at the bottom left over my shoulder, all other operations are what we could call shadow banking affiliates including any special investment vehicles known as siv

settlements on the west bank. it's a plan drawing criticism from the international community. palestinians consider the west bank as land for the future independent state. one of the settlements is called little america, because many of its 8,000 residents are from the u.s. bob lang, who came here from new york, is a religious jew. he shares the belief with other immigrants that jews have an inherent right to live in the land described in the bible. lang says that the incoming prime minister should stick to his plans and expand settlements, even at the risk of worsening relations with the u.s. the most important ally of israel. >> i hope that he has the ability to stand up to world pressure and demand the things that need to be done. >> reporter: a shift to the right prompted by disappointment with the peace process and the international pressure on israel will likely to affect voting. and this may also set the course of the new government after the election. kohi, nhk world, jerusalem. >>> algerian government officials have reassured foreign energy companies they'll deal aggressively with terrorism. they've confirmed that 37 foreign hostages died during a sta

israel forcefully addicted to me and the international protestors from a turn to count they've arrested in the west bank to prevent the building of jewish settlements there several people have also been arrested the piles are illegal under international law and with split palestinians from the lands they claim in east jerusalem prime minister binyamin netanyahu orders the area of the so-called tent city declared a closed military zone and shut off access. not family of the internet freedom activist was hard because the u.s. criminal justice system opposes death the twenty six year old co-founder of social news website reddit committed suicide on friday by the news of himself which was a face criminal charges which carried a potential sentence of more than thirty years in jail for downloading and publishing academic papers online and an open letter his relatives claim the harsh array of charges contributed to his death saying that a young hacktivist was driven to the edge by the government handling of the case. the turkish prime minister told adeline and harassed french president francois hollande to explain why his previously met with one of three

israel forcefully everything union and international protesters from a tent camp that they had erected in the west bank to prevent the building of jewish settlements there several people have also been arrested the building plans are illegal under international law and would split palestinians from the lines they claim is jerusalem prime minister binyamin netanyahu has ordered the area of the so-called tent city to be declared a closed military zone and shut off axes despite the high court earlier ruling that the count could stay for six days to. get off the family of the internet freedom archivist our own shores have accused the u.s. criminal justice system for this were his death the twenty six year old co-founder of social news website reddit committed suicide and friday by hanging himself which was face criminal hanging hacking charges which carried out our short sentence of more than thirty years jail for downloading and publishing academic papers online and in an open letter his relatives claim the harsher ray of charges contributed to his death saying that young stores driven to the edge by the government's handling of the case. the turkish

forcibly possibly evicted palestinian and international protesters from a tent camp they had erected in the west bank to prevent the building of jewish settlements there several people have also been arrested in the building plans are illegal under international law and what made the list unions from loans they claim is jerusalem prime minister binyamin netanyahu said order to the area of so-called tent city to be declared a closed military zone and shut off access describe the high court earlier ruling at the camp that could stay for six days. from the family of the internet freedom activist ira shorts have accused the u.s. criminal justice system for his death the twenty six year old co-founder of the social news website reddit committed suicide on friday by hanging himself swartz face criminal hacking charges which carried a potential sentence of more than thirty years jail for downloading and publishing academic paper online and an open letter to his relatives claim the harsher ray of charges contributed to his death saying that a young heart of his was driven to the edge by the government's one hundred of the case. in pakistan projects by t

this hour is forcefully and it's you know the international protesters from a tent camp that they'd erected in the west bank to the building of jewish settlements there several people have also been arrested their building plans and legal under international law and palestinians for once they claim an east jerusalem prime minister binyamin netanyahu is ordered to the area of these so-called tent city to be declared a closed military zone and shut off axis describe the high court's earlier ruling that the company could stay for six days. of the internet freedom activists are assured was have accused the u.s. criminal justice system really twenty six year old cold groundhog social news website read it because it's so side of friday by hanging himself in place permanent hacking charges which carry a potential sentence of not that thirty years jail for downloading and publishing i think demick papers online and an open letter his relatives claim the harsher way of charges contributed to his death saying that a young hacktivist was driven to the edge by government's handling of the case. turkish prime minister tired other water has demanded an expla

on his own agenda of it of increasing the number of jewish settlements in the west bank even though they are illegally they are illegal under international law he carries on his policies this route every chance of reaching a two state solution between the palestinians and the israelis if the israeli withdrawal from gaza was based on an agreement with the palestinian authority we have we would have seen a totally different middle east today. in europe it's spanish locksmiths who say they now hold the key to a sturdy and so if they were all pretty any longer with the authorities you've been repossessed homes and demanding a change of locks you can find out more about that on a website at the moment also online. there's almost in love to mine says the u.s. with the senate and investigation to determine if the cia gave an appropriate access to the goons create. or not and plenty of other features and stories on the web site r.t. don't come from a putin has been named the most powerful person on earth the us foreign policy magazine has the russian president at the head of its annual list of the world's most influential people however he didn'

carrying on his own agenda of of increasing the number of jewish settlements in the west bank even though they are illegally they are illegal under international law because on his policies the set up every chance of reaching a two state solution between the palestinians and israelis if the israeli withdrawal from gaza was based on an agreement with the palestinian authority we have we would have seen a totally different middle east today as israel hampers attempts to see a fully fledged palestinian state come into existence by building barriers between the two science it's not just divided but family policy here has more for us. this is the everest crossing one of five land crossings between israel and gaza getting through here is tough you need the right permission and papers but this crossing does not just separate israel from gaza it also divides families who are trapped on either side of the border. these are the tears of a boy who hasn't seen his father in three years mohammed left gaza in search of a better life for his family but what he found on the other side of the border was loneliness and despair and what he left behind destress a

carrying on his own agenda of increasing the number of jewish settlements in the west bank even though they are illegally they are illegal under international law he carries on his policies that disrupt every chance of making it a two state solution between the palestinians and the israelis not secondly i think that today as i said earlier this is some kind of a listen to some kind of an understanding between these two super powers on the palestinian ground of between the handsome out that they cannot continue fighting between themselves forever that they have to listen to the voice of the of the masses to the voice of the people and people who thought that gaza has only one color which is the green color of hamas have found out today that the prevailing color in gaza is yellow and the palestinian flag meaning that athena nationalism and that the others as opposed to islamic extremism and let me just quickly ask you briefly i asked you about. netanyahu is concerned how much could take have a palestine but is there an argument against fattah getting more involved with hamas perhaps which is currently being of course accused of stoking the vi

his own agenda of pics of increasing the number of duis settlements in the west bank even though they are illegally they are illegal under international law he carries on his policy is that the slap every chance of meeting a two state solution between the palestinians and israel and israel on an agreement with the palestinian authority we have we would have seen a totally different middle east today. well it was a statement of financial one person could be an insult for someone else that's a view of political correctness that appears to be taking hold in america was so now say the phenomenon has gone too far. in a fortnight investigates why a nation that prides itself on its freedom of speech has become so sensitive. america is a country that pioneers freedom of expression but is the rising tide of political correctness reigning in the right to say what you think people do. to actually speak it's almost as though you have a sort of a code to call them sometimes you want to call a spade a spade and sometimes you want to call it according to a poll the majority of citizens think the u.s. is overdosing on p.c. turning the land of the fre

carrying on his own agenda of increasing the number of do with settlements in the west bank even though they are illegally they are illegal under international law he carries on his policies the stop every chance of reaching a two state solution between the palestinians and the israelis if the israeli withdrawal from gaza was based on an agreement with the palestinian authority we have we would have seen a totally different middle east today just over seven months ago the french placed their trust in socialist leader for all land giving him a mandate for change but his promises ranging from economic prosperity to allowing gay marriage approving harder to achieve than perhaps he thought and as artie's alexy have said he found out people already losing trust in the new leader. the debate on whether gay marriage should be allowed has split french society for years with protests about the issue often ending in violence with france coming to power the gay community breathed a sigh of relief but it may have been too soon activists say the new law which is going through parliament in january is not exactly what they've been dreaming of. there had.

banks face the risk of failure. the subsidy is quite large and it has risen following the recent financial crisis. recent estimates by the international settlements suggest that the implicit government guarantee provides the largest bank holding companies with an average credit rating uplift of more than two notches. thereby lowering their average funding costs. my aforementioned friend at the bank of england encourage the implicit too big to fail subsidies to be roughly $3 billion per year for the 29 global restitutions defined by the stability board as systemically important. to put that $300 billion in perspective, that is an annual subsidy, all of these u.s. holding companies coming together reported a $8 billion in 2011. here's a basic chart for a typical financial holding company. to simplify complex structure, one might consider all of the operations done in the commercial banking operation, that was a box and the bottom left over my shoulder. all other operations are what you could call a shot of making -- shadowed-banking affiliates. consider this next table. it gives you a size and sense of scope for the five largest banking companies.

carrying on his own agenda of increasing the number of do with settlements in the west bank even though they are illegally they are illegal under international law he carries on his policies that set up every chance of reaching a two state solution between the palestinians and the israelis if the israeli withdrawal from gaza was based on an agreement with the palestinian authority we have we would have seen a totally different middle east today. president mahmoud abbas has officially changed the name of the palestinian administration to the state of palestine but despite this and the recent status upgrade by the un the nation still remains all but united as artie's paul asli reports thousands of families are torn into by israeli borders. this is the air is crossing one of five land crossings between israel and gaza getting through here is tough you need the right permission and papers but this crossing does not just separate israel from gaza it also divides families who are trapped on either side of the border these are the tears of a boy who hasn't seen his father in three years mohammed left gaza in search of a better life for his family b

carrying on his own agenda of increasing the number of do with settlements in the west bank even though they are illegally they are illegal under international law he carries on his policy that the set up every chance of meeting a two state solution between the palestinians and israelis is the israeli withdrawal from gaza was based on an agreement with the palestinian authority we have we would have seen a totally different middle east today it's a tempest three saturday afternoon here in moscow this is our team what is a statement of fact for one person could be an insult to somebody else that's a view of political correctness that appears to be taking hold in america where some people say the phenomenon has just gone too far off he's more important i investigates why a nation that prides itself on its freedom of speech has now become just a sensitive. america is a country that pioneers freedom of expression but is the rising tide of political correctness reigning in the right to say what you think white people do. to actually speak their mind it's almost as though you have a sort of a code to call them sometimes you want to call a spade a

carrying on his own agenda of increasing the number of do with settlements in the west bank even though they are illegally they are illegal under international law he carries on his policy is that the set up every chance of meeting a two state solution between the palestinians and israelis is the israeli withdrawal from gaza was based on an agreement with the palestinian authority we have we would have seen a totally different middle east today in the u.k. the prime minister david cameron's foreign aid target has been condemned as a corner job with no evidence it helps the poor around the world a recent study by center right think tank says the billions of british taxpayers' money being spent really being used to promote the conservative party's generosity and create a good image of the coalition government when i discuss the issue with r.t. laura smith. well let me give you three quite stark examples the first is the example of british eight ethiopia which totals three hundred million pounds evidence studies b.b.c. investigation shows that in fact it wasn't used to help poor people it was used by the ethiopian government to cement a corrupt

tent camp they had erected in the west bank to prevent the building of jewish settlements several people were arrested the building plans are illegal under international law and would split palestinians from lands that they claim prime minister benjamin netanyahu has ordered the area of the so-called tent city to be declared a closed military zone and shut off all access to. the family of in freedom activist aaron swartz has blamed the u.s. criminal justice system for as a twenty six year old co-founder of social news website reddit committed suicide on friday by hanging himself schwartz faced criminal hacking charges which carried a potential sentence of more than thirty years in jail for downloading and publishing academic papers online is letters that claim the harsh era of charges contributed to his death saying the young activist was driven to the edge by the government. and the court ordered the retrial of the ousted president hosni mubarak it follows an appeal he lodged against his life sentence barack was to administer also want to retrial but both found guilty over the deaths of protesters during the arab spring of two thousand and eleven des

village of their own it was then cleared by security forces israel's decision to go ahead with its plan to build new settlements in the west bank has been widely condemned and is illegal under international. law to talk to a former legal advisor to the palestinian negotiating team he says the actions of a weak israeli leadership could have a serious long term impact on the chance of peace that's after eight hundred g.m.t. here on r.t. . the palestinians there's a crisis of leadership but there's a bigger crisis of leadership in among the israelis we have an israeli prime minister who go to extreme lengths to continue to build and expand israeli settlements who doesn't want to confront the settler movement who simply wants to head israel down the path of war and is willing to go to extreme lengths to get himself reelected including attacking gaza and it's less than a week until we find out whether benjamin netanyahu is reelected as israel holds a snap parliamentary election on tuesday with the situation in the target middle east heavily dependent on the outcome the whole world will be watching the vote closely so don't miss our special coverage. how will tension with to run develop full s

jewish settlements in the west bank are a major issue for israeli and international politics so to cut through the politics actor and director of the road camera known for his prank the jews decided to take and orthodox look at the whole land expansion in. my name is me more than israeli citizen living here among arabs in white shop and don't you one housing crisis at all time high the thing is there is another new one in jerusalem but i can also live among artists and i think i can get there much better do the wise over the. would like to see the flood to buy i'm here with some investors from england. we want to invest in this area because i'm hearing the property value might go up with one flat is one million shekels is fathers for that and they're building that this whole new area called zero eight and one begins after those heels despite a few haters in the us almost all these really critical parties support the building and selling of charming flats on palestinian land the latest hot location you see one east of jerusalem hello i'm here to show a new client wants to buy property in this area is a big you want investor unde

stepping up its settlements program in the west bank but some of those for whom the homes are intended to appease the government of using them as pawns for political purposes. international news live from moscow this is artsy with me. thanks for joining us. france's military campaign in mali has seen its. islamist militants who took dozens of foreign workers hostage at a gas field in neighboring algeria three people including british and french nationals were killed in that after almost a week of intense as strikes french troops have for that first face to face possible with islamic insurgents in mali the army is aiming to prevent al qaeda links rebels who have seized vast areas in the north of the former french colony from pushing further towards the country's capital france's relying on international support in the operation but a former pentagon official michael maloof says paris's allies may be reluctant to seriously engage in what looks to be a questionable and protracted military standoff. ten years of doing something similar in afghanistan were ready to pull out. to move back in so there's some question as to just how effective this approach is going to be and i t

banks that face the risk of failure. this too big to fail subsidy is quite large, and it has risen, not declined, following the recent financial crisis. recent estimates by the bank for international settlementsfor example, suggests that the implicit government guarantee provides the largest u.s. bank holding companies with an average credit rating uplift of more than two notches. thereby lowering their average funding costs a full percentage point relative to their smaller competitors. my aforementioned friend of of the bank of england estimates the current implicit too big to fail global subsidy to be roughly 300 billion per year for the 29 global institutions identified by the financial stability board as, quote, systemically important. now, to put that 300 billion in perspective, that's an annual subsidy can, all of the u.s. holding companies together reported 2011 earnings of 108 billion. add to that the burden stemming from the complexity of too big to fail banks. now, here's a basic organization chart or diagram for a typical complex financial holding company. to simplify a complex structure, one might consider all the operations other than the commercial banking operation, that little

international criticism after its paramilitary forces shut down a palestinian protest camp in the west bank all of this despite the country's supreme court forbidding it but also promised to build even more settlements in the area and one of the protesters told us the prime minister is just scoring points ahead of a looming election. when you have five hundred more than five hundred fully armed israeli soldiers. raiding villages with said before this is an armed resistance and that by itself is violent but even within the process of actually. many activists many of those that suffered through till beatings for no reason they did not even exist. or less but they suffered due to the things we had at least six or seven of thought resentful activists treated in the hospital and a lot of them are hostile to see doctors for severe problems that they suffered from the beating it's a political issue for the. the going ahead with their settlement plan. to connect violent means settlement to do so them and they don't want anything with a legal or illegal to disturb their settlement expansion. and there's a lectures are coming up senator now has to take the. stand tough position on on this particular case. als

international airport. no passengers on board. the faa is investigating. meantime bank of america slipped depit reaching an over10 billion settlement with fannie mae over questionablele. that's it from cnbc. we are first in business worldwide. now it's back over to "hardball" on msnbc. ♪ >>> as a country we have been through this too many times, whether it's an elementary school in newtown or a shopping mall in oregon or a temple in wisconsin or a movie theater in aurora or a street corner in chicago. these neighborhoods are our neighborhoods, and these children are our children. and we're going to have to come together and take meaningful action to prevent more tragedies like this regardless of the politics. >> welcome back to "hardball." it's been 24 days now since the horrific shooting in newtown, connecticut, and this weekend we got the first bit of information on the size and scope of recommendations vice president biden's gun control task force may make. "the washington post" reported that they include universal background checks for gun buyers. a national database to track gun sales. strengthening mental health checks on gun buyers and stiffer penalties for

village of their own it was then cleared by security forces israel's decision to go ahead with its plan to build new settlements in the west bank has been widely condemned and is illegal under international law. and it's less than a week until we find out whether benjamin netanyahu is reelected as israel holds a snap parliamentary election on tuesday with the situation in the terminal middle east heavily dependent on the outcome the whole world will be watching the vote closely so don't miss our tease special coverage. how will. develop. isolate. what's next in relations with america will survive his snuff election on january twenty second. israel's. well with that israeli election nearly upon us r.t. will be speaking with a former legal advisor to the palestinian negotiating team who says the actions of a weak israeli leadership could have a serious long term impact on any chance of peace that interview in full is coming up in just a few minutes now it's time for the business news with natasha and as i mentioned a little earlier we're featuring you're online at the moment the story about germany wanting to bring its gold back from the u.s. and britain why what. well it's a fascinating s

bank are illegal under international law. secretary general repeated his call that any such settlement plans for e1 must be rescinded. >> interior secretary ken salazar is reportedly stepping down rather than stay on for president of bennis second term. he is said to have made plans to leave obama's cabinet by the end of march. democratic governor martin o'malley of maryland is preparing to unveil a measure that would ban the death penalty in his state. o'malley made the announcement in an appearance with leaders of the naacp. >> the death penalty is expensive and it does not work. and for that reason alone, i believe we should stop doing it. [applause] this week, once again, i will be filing legislation to repeal the death penalty in maryland. >> if the ban is approved, maryland would become the 18th state to abolish capital punishment. a u.s. army sergeant who went awol in opposition to the one afghanistan has been detained and held at fort irwin, california. micah turner left his unit in september and later went public with his anti-war views. supporters say he informed the military multiple times of his whereabouts since his desertion and even tried to turn himself in, but was only arrested earlier this month