he is completely clueless and i believe that ben bernanke he is putting a dollar on a collision course with disaster he is going to put print the currency into oblivion you know which is why people need to be on a gold standard people need to save gold you can't trust the central bankers they will keep on printing money they will keep interest rates down they are clueless about what would drive really konami growth and so they're going to continue to destroy the currency so if you know of your look at a gas prices or food prices if you're planning on buying these things with paper you're going to need a lot of it because the price is going to go way up but if you want to preserve your purchasing power if you actually want to. see a reduction in your cost of living the way to achieve that is to save gold and not feel a currency and on the subject of thrift and the fact that iran was thrown off. brings up this idea that gold is used that will be used as a reserve currency a lot of the gold is a reserve currency gold is a reserve gold as an asset currencies need to be backed by something

feel like currency whip and it is of course ben bernanke use money printing make that allows for a can of hologram of our economy there is no economy there but the problem with holograms of course is they could suddenly be turned off they could be hacked they could be just disintegrate into static well this is what happens over the european central bank every couple of weeks they realise that the old grammar is about to be turned off so they jack in another trillion euro same thing in the fed same thing at the bank of england same thing with central banks all over the world they're trying to can join their holograms to create a global graphics on so banks or some to create the illusion of liquidity to mask insolvency but it's a wearing thin at the margins the the digits are are are not holding together the little photons of of of illusion that we are supposed to believe represents economic activity meanwhile wages are crashing job. disappearing austerity is kicking in people are dying but that's not in the whole graphic recipe book of the central banker such as the borat of course not

global economy led by ringmaster in chief ben bernanke you know the central bankers who do you. digital god and you know after dr ben bernanke the federal reserve i think dr dre would make a next nice federal reserve chairman that is. asked to say sarah thanks so much for being on the kaiser report thank you max no way much more coming away they write their. currency crisis. cuts. treasury integration. who will be left standing with the people in. the french election on our t.v. . 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 realized everything you thought you knew you don't. charge because the big picture. i am maximizer welcome back to the kaiser report special guest alec empire from atari. al welcome to the kaiser report thanks for having me you've been very vocal on the issue of copyright and on the issue of anonymous let's start with copyright do you think the act so people like cetera are the fight against fascism of our time. yeah you know i think this was alway

global economy led by ringmaster in chief ben bernanke you know the central bankers who you. digital god and you know after dr ben bernanke the federal reserve i think dr dre would make a next nice federal reserve chairman that is. say see ever thanks so much for being on the gaza report thank you max go away much more coming away there right there. is a currency crisis. cuts. tragically integration. who will be left standing with the people in. the french election party. wealthy british. markets. find out what's really happening to the global economy for a no holds barred look at the global financial headlines two kinds of reports on r g. i am max kaiser welcome back to the kaiser report special guest alex empire from atari. riot alec welcome to the kaiser report hi thanks for having me you've been very vocal on the issue of copyright and on the issue of anonymous let's start with copyright do you think the act. people etc are the fight against fascism of our time. yeah you know i think this was always a very complex discussion you know where it is creativity like stock wher

global economy led by ringmaster in chief ben bernanke you know the central bankers do you. digital garbage and you know after dr ben bernanke leaves the federal reserve i think dr dre would make a next nice federal reserve chairman that is hot stick say sarah thanks so much for being on the kaiser report thank you max don't go away much more coming away stay right there. sigrid laboratory to mccurry was to build the world's most sophisticated robot which on doesn't use the door down anything to teach creation why you should care about humans. this is why you should want your only on the orgy dot com. i am max keiser welcome back to the kaiser report special guest alec empire from atari. riot alice walker the kaiser report thanks for having me you've been very vocal on the issue of copyright and on the issue of anonymous let's start with copyright do you think the act so people like cetera are the fight against fascism of our time. yeah you know i think this was always a very complex discussion you know where does creativity like start where does it stop and you know what my

global economy led by ringmaster in chief ben bernanke you know the central bankers you. they are digital garbage and you know after dr ben bernanke you believe the federal reserve i think dr dre would make a next nice federal reserve chairman that is so optimistic stacey ever thanks so much for being on the guy's report thank you max don't go away much more coming away stay right there. the official location your body phone the i pod touch from the top story. life on the. video. feeds now in the palm of your. hasn't been anything good on t.v. . it is to get the maximum political impact. the full source material is more helps keep journalism coming we. we want to present. something else. live. mission. critical three. or three. arrangement three. three. three. the old freeboard to play the video for your media project a free media gondar t.v. dot com. i am max kaiser welcome back to the kaiser report special guest alec empire from atari age riot album. well the kaiser report thanks for having me you've been very vocal on the issue of copyright and on the issue of anonymou

global economy led by ringmaster in chief ben bernanke you know the central bankers do you. digital god and you know after dr ben bernanke you believe the federal reserve i think dr dre would make a next nice federal reserve chairman that is so fast eight c. everett thanks so much for being on the kaiser report thank you doug away much for coming away stay right there. i am max kaiser welcome back to the kaiser report special guest alec empire from atari age riot alec while the kaiser report thanks for having me you've been very vocal on the issue of copyright and on the issue of anonymous let's start with copyright do you think the act so people like cetera are the fight against fascism of our time. yeah you know i think this was always a very complex discussion you know where does creativity stock where does it stop and you know what my fear is that all those laws are being used you know the day against political blogs you know it begins freedom of speech you know to me that's like the direction and setting you know so i have to go home and trespass. tech my music or somet

what it means and on that note alan greenspan has come to the defense of federal reserve chairman ben bernanke against criticism from republican presidential hopefuls so do central bankers protect their own and why should they escape personal scrutiny scrutiny over how they do their jobs in the first place let's get to today's capital account. you heard the headlines of stock market performance is being attributed to some optimism about an economic recovery and appetite for risk and traders are looking at a continued bull market and u.s. treasuries so we're talking about confidence about sentiment but what is the reality of the facts and figures of the u.s. economy and the debt situation because the new us national debt is that fifteen point six trillion dollars according to the most recent numbers we've seen that's higher than u.s. g.d.p. you can see there how it skyrocketed since one thousand forty and look most of that has been accumulated in the last twenty years only seven percent of that accumulated before ronald reagan was president you can see how the rest is divided up there now if we

uncle ben bernanke has been throwing bills out of the helicopter now. >> ben bernanke is head of theederal reserve and in charge of printing money. >> it was to get corporations to spend. that hasn't happened. we have had unintended affect and that could cost obama the election. 94 dollar gallon gasoline. >> and so much coming down to the price of gas. >> it is going down. >> it does. the world of raw materials has gone up in the past and not just obama administration but during the bush administration, too. and the reason that inflation is not worse statistically because the world of technology is dragging down costs. you can make free long distance costs over skype. and so poor people are hurt. they live in a world where disporportionate amount of their income goes to food and they are killed. >>> and steve, a point. the price of gasoline is going down a couple of pennies. but went up two dollars a gallons since president obama was president. and so will voters even though it is coming down a couple of pennies, will they see the downward trend as benefiting president obama. >> it i

ben bernanke left the door open for mormon tear eae monetary ea. he said the fed needs to remain cautious in deciding its next move and the economy needs more help to encourage job growth. >> i don't want to deny that we've certainly seen some recent positive developments, and what we're hoping for and we'll be looking for is whether or not those positive developments are sustained and whether they lead to a self-sustaining recovery going forward. >> well, that bernanke bounce pushed the dow higher on monday. in fact, it was up 160 points. its best gain in nearly two weeks. the markets then fell through midweek. by friday, the markets closed down the quarter. in fact, here's a look at how the major averages finished. for the most part, better since 1998. elsewhere, best buy is rethinking its business model. the electronics chain announcing it will close 50 of its big-box stores this year. test new store formats and lay off workers. the company dominated electronics retailing for much of the last decade but face severe competition now from online se

still waiting for ben bernanke of course.ll the major indices lower after a two-day sprint that took us up substantially. volatility risen slightly. the dollar is higher as you would expect for risk-off day. commodities, oil and copper in negative territory. and that's perhaps one of the most important signs of all we are still below 2% on the yield on the 10-year. back to you, ty. >> thank you very much. let's move to bertha coombs now at the nymex where the trading is wrapping up. bertha. >> yep. wrapping up here in terms of the gold pits. gold down today. overall take a look across metals and it's that strong dollar that's keeping things lower as simon mentioned on a risk-off day. for the week gold is higher. silver edging and copper, though, the worst performance we've seen on a weekly basis for copper on those concerns about slower growth in china. worst week since mid-december. back to you. >> thank you very much, bertha. it is gearing up to be a huge week next week for earnings and indeed the economy. so how should you

ben bernanke might be out. steve refused to write in our names. i'm going to tell you something. thank goodness. i wouldn't want that job. do you think behr bernanke is gone by 2014? if so, who and what kind of person would you want to see in there anyway?ther >> first of all, i kind of agree with diane swonk. i'm not sure after the last few years somebody would actually want the job of fed chairman. i think it's going to be -- i think he will be under a certain amount of pressure from both the left and the right just because of what the economy has been through and also because of the extraordinarily unorthodox monetary measures the fed has adopted. you know, personally i'm more interested in what they do than who's at the helm. i think ben bernanke wants to do the right thing by the country. i don't always agree with his view of how monetary policy works in the economy. but he's certainly trying to do the right thing. he's done a lot of unorthodox things to help the economy in the financial crisis. i think the question is what do you do with monetary policy from here. >> if you

with the financial sector or the mainstream media they keep on tell you oh it's all fine yes man ben bernanke you running up and down the aisle saying everything is ok you know in fact it is all ok look when bernanke is meds wear off he's going to be like that coney guy calling twenty twelve guy running down the street buck naked slapping the ground like a gorilla could do the quantities of this ball that he looks got a look at a relatively old you know alpha gorilla sitting back there you know farting. i mean that's all he does he goes in front of congress and he farts and he paid you know they're saying oh you're farting sounds like we're all in great shape thank you professor bernanke let's look at some of the headlines that betrayed the everything is ok bernanke he is a consummate professional he's a hero sort of stuff shock slowdown in u.k. growth as g.d.p. contracts point three percent so britain's economy contracts had more than expected in the last three months of two thousand and eleven shrinking point three percent as a country is dominant services sector weakened and meanwhile hous

join us for our weekly financial checkup we're going to cover everything from the buffett rule to ben bernanke comparing the dot com bust to the housing crisis and some are using their experience behind bars to make money and find guidance to others they're preparing to serve time we're going to speak to one man who calls himself the number one prison consultant in america all that and more food and i including a dose of happy hour but first take a look at the mainstream media has decided to miss. oh there's a lot of news going on on this friday and the mainstream media is all over the place from north korea to the trayvon martin case to the continued buzz over hilary rosen's comments on stay at home moms. the punch hearing has been set for next week for george zimmerman north korea launches its rocket but doesn't get very far crashing into the sea is now in police custody and he is being charged with second degree murder and north korea makes us last but not exactly in the way they want it to moms across the country now are taking sides reacting to the controversial comment by democratic stra

. >> bottom line, ben bernanke what's a greater wealth effect.s at zero. >> he agrees with you when he says that the response was childish. >> it's not childish, this is rational. >> and interest rates are going up. >> and you don't even listen to charles payne, go ahead, dagen. >> and this is -- whether you're an investor or not, we're drunk on free money and we don't know, really, how horrible and how long the hangover is going to last, because this has been going on so long, and we keep talking about inflation, but i remember february of 1994, when alan greenspan raised interest rates unexpectedly and everybody fell out of bed and you had hedge funds blowing up right and left. and people do not care that the free money stopped sloshing around. if you're not buckling up now, you're a moron. >> and you're a moron. >> a moron. >> and anyway, the-- >> that's like a moron. >> and everybody wants something for nothing, and the low interest rates had a negative effect on the ordinary save or retiree, so, maybe it is time at that they go up. if there

economy for this year, but ben bernanke insists that qe-3 is not off the table. he said the fed was prepared to use any tools available if the economy needed it. he expected the fedded to move on rates, but more official thes now saw a rate hike in 2014 as appropriate. bernanke also highlighted continuing concerns over europe. >> progress has been made, but obviously judging by market conditions, there's still more work to be done. and we are counting on our european colleagues to continue to follow through their commitments and to put very strong effort into addressing what remain significant problems and concerns in europe. >> at the same time, the u.s. treasury secretary timothy git p geithner has warned severe austerity drive would push back into recession. he said that while europe was doing much better job of handling it crisis, risks do remain. >> they're putting a lot of financial force behind these reform efforts. so again, i think hat most likely you'll see is that europe contains the risk of a major cataclysm. they let the reforms take some time to wor

we are just minutes away from ben bernanke's news conference. but before we get to that, and it could be a big one, folks, we want to hear what the fed chairman has to say in the q & a session. steve liesman is in washington with the breaking news and the fed's economic forecast. steve. >> brian, it's an interesting one. the fed forecast turning a bit more hawkish. fed members forecasting now more tightening in 2014 than they did in the forecast in january. this being the second time historically the fed has ever published its outlook for the fed's fund rate. fed members less likely to see tightening later than 2014. nobody's in 2016. the same number in 2015. two more fomc members now see the first tightening in 2014 compared to the january forecast. seven members see a funds rate at 2% or higher in 2014. that compares with only five in the january forecast. six members are still see tightening in 2012 and 2013. so nobody's become way more hawkish. just a bit more hawkish on the long end, if you will. and part of that has all come with a change

money policy seen successful as savers become consumers and they say the federal reserve chairman ben bernanke he finally may be catching a break is easy money policies are showing signs of speeding up the economic rebound three years after he cut interest rates to zero and the article cites the fact that the housing market and car sales market that looks like it's reviving a bit well the savings rate has plunged again back to zero so america as those savings which means that they're entirely reliant on the state for government handouts there's no formation of capital amongst the citizens to give them independence and freedom outside of their dependence on the state bernanke you understand he's a communist dressed up like a capitalist but the mainstream financial media as this article points out makes it sound like it's a very great result of ben bernanke you zero interest rate policies ok they quote allen sinai co-founder and chief global economist and strategist at decision economics in new york who says when the fed sprinkles happy dust on the economy we always respond the happy dust has be

>> fed chairman ben bernanke will make only modest comments on the economy. he says the heavy human and economic costs shows they need to take further steps to avoid a repeat and he's talking about financial regulation. i would call this speech the beyond dodd/frank speech talking about a need for regulation in the shadow banking system saying it creates potential for seasonal shocks and spillover to traditional banking. efforts are still at an early stage the fed chairman says and there's a risk of runs in money market funds, that remains a concern. and he says the tools used to bail out the money market funds in the crisis no longer exist. that of course because of dodd/frank. bernanke mentions but does not criticize a rem proposal to require money market funds to maintain a capital buffer against losses. he also mentions a similar sec proposal to allow money market funds to potentially trade at below the dollar or to break the buck. bernanke's also concerned about risks from the repo market and warns that capital will flow from more regulated to less regul

. >> at his quarterly news conference ben bernanke speak about the u.s.conomy and the pace of the recovery. he did say that the central bank stands ready to add to stimulus if necessary, even after leaving its policies unchanged today and upgrading its view that the economy will continue to improve in the year ahead. welcome to hour two of "washington today" here on c-span radio. i'm steve scully. thanks for being with us. on capitol hill the house passing a bill that would impose tough limits on government currents and how much agencies can spend. lawmakers passing the bill by a voice vote in the house of representatives. this following revelations that the general services administration had officials in western states going on taxpayer financed junkets to las vegas and hawaii. the provision does add to a bill that anyone can search on federal spending. john boehner announced the house will vote on friday a republican bill that prevents interest rates on student loans from doubling this summer. the president talking about it today in iowa. part of a two

people have to understand that this term happy is code for counterfeiting or confetti and what ben bernanke is done by keeping interest rates especially zero percent is that he has made it easy for central banks and banks to indulge in a silly as the term goes in economics create money leverage that they use to buy stuff and as a result of those policies game the value of that stuff goes up including the bond market and this is going on for thirty years until the bond market collapses and it's only a matter of time some would argue within the next six months we'll have the end of the thirty year bond market collapse in the bond market or asked of prices in the ponzi scheme like groupon a stock which we've learned about all the show we said henry blodget over business insiders his whole case for groupon was flawed in fact that we were right he was wrong it's just another posies game ok so we should mention that groupon shares have fallen sharply since you mentioned that so but let's move on back to our main topic here max because we're talking about this happy dust that the federal reserve b

funny to tell you so before joining the federal reserve chairman ben bernanke he was professor ben bernanke he has many people know or have been reminded with his recent p.r. blitz of college classes but if you haven't seen our show let's go to break for miner from his stint lecturing at g.w. university george washington university earlier this year. unfortunately the fed made its first great challenge in the great depression and it failed. both on the monetary policy and on the financial stability so now we play that because the great depression was his expertise as an academic and paul krugman in today's new york times magazine writes about the bernanke he can none from the divergence between what professor bernanke he advocated and what chairman bernanke has actually done and crewman argues that he has gone too far from his academic roots and needs to do much more he argues that chairman bernanke used bed has been much more passive than professor bernanke is writing would have led us to believe so he says bernanke has not done enough. and that really he's not been enough of the academic

people waiting on what ben bernanke will say at a news conference. futures are pouring into a bit of a higher start. a mixed close yesterday. the nasdaq fallen for five straight futures. cattle futures plunged yesterday on news of the mad cow case. coach seeing sales drop off a bit. they will boost the number of men's items by the end of the year. bargain hunters, bad news. putting an end to their factory outlet coupons. at the new york stock exchange, i'm jane king, bloomberg news, for wbal-tv 11 news. back to you. >> a popular tv show is "mad men." a hotel chain is paying tribute to that show. >> john hamm was here. he's just as handsome and person. if you have the name don draper, can get a free state at howard johnson's. the housing market may have hit a bottom. >> you met john hamm? >> i did not, but he was here. i wanted to interview him. >> check-in as don draper instead of john smith. thank you. >> 5:23. ceremony forward seve the baltimore police foundation. >> how the scrubber works to >> how the scrubber works to clean water in the inner i'

ben bernanke says we might be headed over a cliff. our roundtable covers these topics and more after the break. ♪ ♪ [ male announcer ] from our nation's networks... ♪ ♪ ...to our city streets... ♪ ♪ ...to skies around the world... ♪ ♪ ...northrop grumman's security solutions are invisibly at work, protecting people's lives... [ soldier ] move out! [ male announcer ] ...without their even knowing it. that's the value of performance. northrop grumman. look, every day we're using more and more energy. the world needs more energy. where's it going to come from? ♪ ♪ that's why right here in australia, chevron is building one of the biggest natural gas projects in the world. enough power for a city the size of singapore for 50 years. what's it going to do to the planet? natural gas is the cleanest conventional fuel there is. we've got to be smart about this. it's a smart way to go. ♪ ♪ [ male announcer ] this was how my day began. a little bird told me about a band... ♪ ♪ an old man shared some fish stories... ♪ ♪ oooh, my turn. ♪ ♪ she was

on growth, not on words from ben approximate bernanke. start thinking about stocks, that are undervalued and buy them, and not adding a fresh coat of risk on and yes, be careful of spaniards bearing greek like gifts. this is a game of investing in companies, not countries, about taking dividends. countries don't have dividends, for heaven's sake. the federal reserve doesn't have dividends. companies have dividends, take them, put them back in the stock, called reinvesting and build fantastic long-term investment. even if you think i'm dumber for not pointing out it's not a risk on day, or maybe a risk off day or perhaps even better, who the heck cares? my job so explain and to coach, not to sound smart and confuse you. let's go to joe in connecticut, please. joe. >> caller: booyah, jim. i saw some old pictures of you with hair from my mom's old springfield year book from '71. >> i'm glad she saw the pictures. >> yeah, lots of hair. >> not when i went to abner wilson boulevard and -- never mind. that's different. go ahead. >> caller: i hav

they see ben bernanke as the main brand of the federal reserve.y have been trying to put him in different environments where he has a chance to explain to everybody else what the fed is up to. he did a lecture series and he is banon "60 minutes." he is looking around and trying to figure out how he can get out there and explain himself. the gw series was interesting. he was a professor at princeton university. that is his comfort zone. he is kind of a stiff guy, but he was coming out of his shell when he was talking to the students. say? what did thhe guest: he gave a four-part series. he went back to explain what central banks are and what they do. there is misunderstanding about that. he told about the lessons of history. he was an economic historian back when he was a professor. he spent a lot of time studying the great depression. he talked about the crisis, how we got here and what the fed has done. what you would expect the home team quarterback to do. host: you wrote a piece -- to his speeches or lectures play into what he is trying to esta

fed chairman ben bernanke left the door open for more monetary easing this week. speaking in a conference in virginia he said the fed needs to remain cautious in deciding its next move and the economy still needs more help to encourage job growth. >> i don't want to deny that we've certainly seen some recent positive developments and what we're hoping for is whether or not those positive developments are sustained and whether they lead to a self-sustaining recovery going forward. >> well, that bernanke bounce pushed the dow higher on monday. in fact is it was up 160, its best gain in nearly two weeks. the markets then fell through mid-week. by friday the markets closed down. here's a look how the major arms finished t first three months of the year, the best fst quarter since 1998. >>> b best buy annnnounceded it close 5050 of its big box stor this ear, t test new storore t foats anand layy off workers. the compan dominated eleconic retailg for much of the last dadeut faces severe competition from online sellers. >>> the markets were on fire this first quarter of

one of the changes put forth by ben bernanke he told reporters that he is comfortable with the current stands of interest rate policy given the forecast that economic growth will be moderate. as expected the fed chairman did stress that the fed could purchase more assets if the economy needs additional assistance but some ways to boost like tolerating higher inflation would be reckless. here is more from today's news conference as he took questions on what some say is not enough of what is being viewed as a slow economic recovery. >> unemployment is too high and you said you expect it to remain too high for years to come. inflation is under control and you say you expect it to remain under control. you say you have additional tools available for you to use but you are not using them right now. under these circumstances it is hard for people to understand why you are not using those tools right now. could you address that and specifically could you address whether your current views are inconsistent with the views on that subject that you held as an academic? >> let me tackle that secon

actually went and spoke with the new york fed last month and of course yesterday we heard from ben bernanke in a press conference after the f o m c announcement so did you hear anything in mr bernanke is remarks that maybe made you feel like your criticism and your advice has been heeded. not so much as one dependent clause you know my my speech at the fed was was a wonderful experience for me i'm not sure about my audience but they were most appreciative it seemed their applause was more than perfunctory and they left once or twice at the appropriate places but at the end of a most of the questions were quite good there was one question the more i think of it the more telling it is of the federal reserve and what one might call its atlas complex that if it weren't there we couldn't get up in the morning and go to work and the question was i talked about the depression that ben bernanke he never mentions which is the one beginning in early one nine hundred twenty and ending in mid one nine hundred twenty one a brutal and ugly affair which however came to an end despite the utter absence of

ben bernanke just wrapped up his news conference with reporters. bernanke leaving the door opened to mormon tear stimulus, which is helping to give this market a lift. we're going to get to the comments and reaction to the reserve. dow jones up 90 points. it's been creeping higher. let's get to our "closing bell" exchange. gary kominski and bob pisani and rick santelli. first let me get your take on the reaction from the markets, rick. >> well, you know, there were two reactions on the statement and i think the reaction of higher rates on the action is apparent. there's no mention of any more extension of the twister qe and another bit of a selloff when the original forecasts were released because of his horizon for the unemployment rate falling below 8%. rates are where they were four or five hours ago. >> he said that labor market conditions and unemployment rate has declined but remains elevated and i think that's probably the crux of the issue. we're seeing a recovery but it's not necessarily fast and not -- or certainly not strong enough as pe

well ben bernanke isn't concerned enough that he does anything differently but it seems the treasury select committee and u.k.'s parliament is taking the side of the savers m.p.'s there want the government to compensate the pensioners and savers for the money printing impact on them by suspending the income tax on savings interest so basically they want savers to be compensated for the central bank's policies weeding through the zoster. which our country everything has to pay every year and we can't just have normal interest rates we have to have these kind of ok. and lower rates year raise them back tax year give me a break and i just look a little work out if you like goes to the local market rate blog post well it's like when you give a medicine for something you perceive something and instead of dealing with illness you have side effects so then you prescribe something for the side effects and then you you're always dealing with the symptoms are not the problem but if that's the situation that we have hey at least they're given some you know thrown a bone to the savers who've got