warren buffett but this year we see the emergence of bric countries as key players making up half this list well the u.s. begins to lose its grit and while we all anxiously await the release of this list annually to get a look at the who's who and get excited and dreaming about what every one of us we do with that much money we can't help but notice the disparities based years for lists broken records the total number of billionaires one thousand two hundred ten and the combined wealth of four point five trillion dollars all that while the wealth gap in the united states is at a historic level and while the top one percent of the population in america own more wealth than the bottom ninety percent combined to hear this with me as i am hurst economist at the center for american progress thanks so much for being here thank you i mean first of all these guys are rich over a lot of money they're really rich and you know there's four point five trillion dollars in combined wealth with forbes billionaires there's one point five billion people in the world living on one dollar a day or less i

well this is set it's a very tricky issue because the bric countries deducts or brick about some such stuff but brazil russia india and china the only scored in eight their faults in these major happenings that's exactly what happened this time look at the five abstentions two british countries brazil russia india and china plus germany germany they have thought east their misgivings about a military operation for more than a week now the same about brazil but there's another very very important thing so days ago or cut half a given interview to german t.v. by the way and he said explicitly that he was attacked by the west clear by any sort of coalition all the oil and gas contracts material deals will be nor employed except which are many because germany was not conceiver on all flights all and these contracts will pull to the russian indian and chinese companies so they're scared of course a connection and once again we go back to the time tested the lunchroom it's the oil stupid and once again it's very important. and you know again from khadafi saying not just our short term a lot

and now it's japanese to be fearful and they're very anxious about trying or want to ask you about bric bloc that is made up of brazil russia india and china some experts are saying that this block is going to really become. a leader in. the world's economic arena do you think that's the case or is china way ahead of everyone else. bigger than most other places and all these countries have a long way to grow and very dynamic for that reason because they come from a lower. basis so the tend to be industrious and ambitious and sold in a way that perhaps is less true in. a consummate like your which is be prosperous for an awful long time do you think they could become stronger than the united states and europe in terms of their. combined possibly what is stronger me in today's economies when. corporations very very often it's very hard will have their headquarters in one country but most of the factories in other countries and consumers all over the place and. it's become such an international economy it's difficult it's very difficult to talk in terms of national strength the chinese tal

. >> brazil, russia, india and china, the bric nations, are all calling for an immediate cessation of the no-fly zone. u.s. defense secretary robert gates says it's gaddafi that is stained with civilian blood. >> it's perfectly evident that the vast majority if not nearly all civilian casualties have been inflicted by gaddafi. >> question, if this nato-led no-fly zone does not remove gaddafi, will the u.s. be forced to put boots on the ground? >> if you talk about marines, no. army perhaps to, no. you may get some special advisors in there, john. but here's what is happening now. the no-fly zone has been established, give's air force does not exist. his airfields don't really exist anymore. what is happened is the europeans will take over the no- fly zone. but the americans are engaged in an area war to help the rebels, and we're now moving to where the american airpower missile power is firing at libyan tanks and libyan troop concentrations. we're firing missiles into the compound of gaddafi, in tripoli. so what is going on is america is conducting its own air war and basically the o

us was kind of blaming china for manipulating its currency and then the brazilians the bric countries said no it is the quantitative easing in the us. because of manipulation because by reducing interest rates through intervention money supply you can influence the currency rates as wrote so i think that was the sort of debate between the countries and the term currency wars was used but i think we'll have turmoil in currency markets basically we have more instability in sterling is because of high place in the u.k. . and expect an interest rate rise in the u.k. is going to come on the i think pressure in some markets and we have uncertainty in europe about the debt problem in greece is not really sold people are talking about whether priests should. whether it's going to default or restructured there and the problems in ireland and portugal and so on so you will be under pressure and the code and sort of instability uncertain oil prices will not help you either and us as well increasing inflation in the in the u.s. duty high oil prices will put some pressure on the dollar as well bec

supportive of this is what we know that russia is considered to be a bit undeveloped compared to other briccountries why did she think. there aren't enough people investing in russia now but i think currently after the two thousand and eight crisis it was really hard to attract investment back to russia a lot of investors were burnt there was a lot of you know very bad stories of corporate governance and i think pick up. a couple investors into our funds. two thousand in the early two thousand and eleven and i think just just because of a couple of global things that are happening right now russia has become a place for people to reallocate their money so you definitely see that in the next coming year to two thousand level and hopefully to person twelve i think drivers going forward for russia are many there is a two thousand and fourteen olympics two thousand and eighteen world cup these are these are vents hopefully it will really change the company search change the country and the investment appetite amongst foreign investors how important is getting the russian companies to be more tr

security council members voted to support this resolution and five of the countries abstained it's the bric countries brazil russia india china and germany now this resolution the authorization of a no fly zone over libya and it also authorizes countries tack unilaterally so what can happen remains to be seen because that gives countries a lot of room in the ways in which they decide to act russia and china well they are the veto wielding members that abstained within the security council and i think the reason that they were hesitant to begin with what we've heard russia china and other countries say is that they didn't want to take any means that would indicate military intervention in libya they want to see cheik diplomatic approaches slower steps because in fact some experts believe that. any military intervention. to the violence and conflict that's already ongoing in libya can exacerbate the problem of russian ambassador to the united nations vitaly churkin it did make some comments following the security council vote let's take a listen to what he said. the images of innocence a whol

no fly zone but they did that they were among the ones that ended up abstaining so what's the four bric countries brazil russia india china and germany but nonetheless nine votes were enough to pass this and this is what happens and what this resolution includes is not just a no fly zone but also like you said quote all necessary measures and we're hearing that this includes airstrikes on living tanks and the use of heavy artillery we've got a collaborative effort here as you just mentioned several countries approving this i'm wondering if you have any idea who will be acting first who will be getting in there and also the reaction on the ground in libya have you heard anything. well christine you know i have to say a lot of the details of these discussions of the security council have really been up in the air and since this resolution was literally passed moments ago we do not know many of the details of exactly who is going to step up the game who is going to start first was going to sort of lead this u.n. back to coalition we have been hearing reports coming from the french press su

brazil as well love what i once again the bric countries seem to be sticking together and of course germany here too but i do want to talk about the countries actually leading the charge in this africa great britain and france any idea michelle you know we've heard that they may send in planes even sooner than tomorrow and the idea what these two countries are up to what their reasoning is for being so in favor of this move. well look yes three point five percent of global oil reserves. has the cheapest oil in the middle east as low as one dollar baloch holding southern estimates and. the trauma field because what this oil now i think consists. of the actual loads operational because goals of canadian forces as well from different countries is at the front because oil and its oil and gas and what these countries are and god is is what watch are they going to share this was a war i should mention that china holds or at significant oil interests. prior to the so the insurrection so this is this is part of the battle of is the battle for oil it's sculls us it's not a humanitarian war and you d

. >> brazil, russia, india and china, the bric nations, are all calling for an immediate cessation of the no-fly zone. u.s. defense secretary robert gates says it's gaddafi that is stained with civilian blood. >> it's perfectly evident that the vast majority if not nearly all civilian casualties have been inflicted by gaddafi. >> question, if this nato-led no-fly zone does not remove gaddafi, will the u.s. be forced to put boots on the ground? >> if you talk about marines, no. army perhaps to, no. you may get some special advisors in there, john. but here's what is happening now. the no-fly zone has been established, give's air force does not exist. his airfields don't really exist anymore. what is happened is the europeans will take over the no- fly zone. but the americans are engaged in an area war to help the rebels, and we're now moving to where the american airpower missile power is firing at libyan tanks and libyan troop concentrations. we're firing missiles into the compound of gaddafi, in tripoli. so what is going on is america is conducting its own air war and basically the o

>> the dutch government, the british government, the german government, i do things on the brics, theameron people, some of whom i knew in college. banks like barclays is a customer i have worked with on the gold price which is political. people like bank of america merrill lynch is a good client. i talk about the middle east and how that will affect oil prices. >> how many people are there out there like you? >> it is a growth field that can out of nothing. ia ia ian bremer but the small boutique ted people like me, there are 20 or 30 of the out there. it is becoming a thing because you don't have to argue to businesses and government. we take the knowledge we have in the think tank that monetize it. then you can speak the truth. you are wealthy and you can be honest and i would never go back to a think tank that was part of the bavaria do you live in? >> i live in rosenberg which is in northwest bavaria. i am gone about half the time. i have about 20 people working with me directly and indirectly. you can manage quality with that low number. i don't have to check the footnotes. that

statements coming out of bric countries are calling for a cease-fire now. when you think will be the time for that? >> to achieve our mission, the innocent civilians in the population centers must be protected. gaddafi's forces must cease fire and attacks against civilians must stop. the forces of gaddafi must be pulled back from ajdabiya, misurata, and zawiyah. our efforts have been going well. i cannot speculate on conclusion dates, but i want to stress this is a multi-phase operation designed to enforce the u.n. security resolution and denied the libyan regime the ability to use its force against its own people. our coalition partners continue to make great contributions to the mission and assume that more and more responsibility. >> just to clarify something, you are asked whether or not there were civilian casualties as a result of your attacks inside libyan cities. just to make sure we all understand, are u.s. forces or coalition forces, in fact, now attacking inside cities? second, do you have any communications with opposition or rebel forces? >> i