you know dimitri let's move on ok. there are. this is fun because we have dimitri to add his wisdom to intervene peter schiff this week about his hyper inflation predictions which he's been calling for since at least two thousand and eight and dominic's kaleri tweeted me to say sorry capital account i listen to shift almost every morning and he's always said hyperinflation is a worst case scenario so you measure what you think about that i mean that is true but i guess the question is how long can you kind of qualify such a bold prediction well where you get need to be called out on it i mean i don't know exactly that specific thing but i think where i think peter shifts and i can sympathize with me and i made this mistake as well in two thousand and eight i give too much credit to the increase in base funding. not enough to the effect of the banking system and bank lending and additional forms of affectively what is money so i thought that we would get inflation a lot sooner or with greater. expansions another was so i think the

dimitri let's move on maybe you need some helium but guess what there's no shortage of. people asking where is the helium take a look. texas is the largest producer of helium so how is it that we can't get helium here for our balloons blaming the shortage and rising prices on the downturn in natural gas production. so just quickly and i'm sure that'll be fine because you don't have any things that day oh you do ok well there's a shortage it's not just in the u.s. it's in places like tokyo and algeria they're being forced to literally deflate their balloons reportedly inflatable mickey mouse heads at disneyland in tokyo are being sold well maybe this will stop all the kids here in america birthday parties suck on helium and get on helium it's not high it just makes your voice i mean and i actually wanted to try and find a helium balloon for this happens so so i guess i'm not very much more sophisticated than those kids you're talking to used to do that. of course as well but what's so funny about it i don't know you sound funny so that's it you know dimitri let's move on

ok let's wrap up with loose change dimitri let's talk about central bankers it's your favorite topic out wrong there my favorite people there so alan greenspan very famous former one spoke out on whether a painless solution can be found to avoiding the fiscal cliff ever do sing us long term deficits take a listen. the presumption i'm going to have a plane with fruit from truth i think is fantasy. so he said it's fantasy that there is going to need to be economic pain in reducing long term deficit i agree with him on that i'm glad he's going to be alcoholic and i'm glad he's out saying things like this whether to become mr realism whether you become mr lanolin left office yet he was no longer i don't know it official. this. you know alan greenspan has gotten off the hook. if there's one person that's walked away when the financial crisis happened like he got a little bit of flack but that's it you know he hasn't got and still of there are a lot of. you know you couldn't do didn't know what industry should be or whether they were too hard too low i'm just i think there's one guy that's

all right let's separate with loose change dimitri on friday we were talking about the front runner to be the next prime minister of japan shinzo abbate and he won and here is jim grant on friday saying why we should possibly pay attention on thinking that this might be something worth watching because there is no other reason the japanese will be getting on with all of which they seem to have put it in to do they'll be following the world and implementing truly radical monetary policies. so if we see unlimited easing in japan as the prime minister wants and he wants to raise the inflation target to two percent it's right now one percent do you think we will see the end of last decade and deflation in japan was different to the end of last decade in the terms of this isn't going to solve the economic growth problem the real question is will this solve the nominal deflation issue i don't think it will be you know what jim graham is a good point which is that at the end of the the but the bear the bond bear market people thought that the central bank would be impotent. that inflation was

all right let's wrap up with loose change dimitri on friday we were talking about the front runner to be the next prime minister of japan shinzo abi and he won and here is jim grant on friday saying why we should possibly pay attention i'm thinking that this might be something worth watching. following which they seem to have a propensity to do that we fall. so if we unlimited easing into one percent do you think we will see the. end of last decades most of this isn't going to solve the economic growth problem the real question is will this. at a good point which is that at the end of the. the inflation was something that he couldn't couldn't get under control of a bull market. and in this case they would be the b.o.j. . grow it's made a very good point so. because we want to let you know collecting four hundred but we earlier in the money but it turns out looking back in history presidents have declared bankruptcy we want to bring a few of them to you so we have a blink in he was a failed shop keeper ok open it up but. up to eight hundred thirty three creditors took him to court the

let's wrap up with loose change dimitri co phoenix is here to talk about this interesting predicament first insider trading we've heard so many cases recently has it become the new normal. drugs roger of them is sentenced to eleven years in prison in saudi dealing the move comes a week after a former portfolio manager was charged with running the most lucrative insider trading scheme as he sees billionaire founder steve cohen told clients today he's confident that he quote acted appropriately. so there are a couple in the comment thread as an informant who has been helpful to the f.b.i. in a number of these cases his name is david slain there was a major article done in bloomberg he's a former morgan stanley director and one of his original tips that the article cites was a fund manager who was paying people to figure out who was coming and going on corporate jets at this small airport to try and figure out maybe the deals that were being made and john carney net net this and he seemed like you brought up a really good point which is is this insider trading no because anybody can actu

let's wrap up with loose change dimitri kofi anan just remember when alan simpson was on the show former senator one half of simpson bowles led to believe for one of our yeah i got talking on the phone afterwards and i can say one thing guys he is much less senator from the crowd and i'm going to run. well in rare form and in his best form he has a new video out ok he's reaching out to the millennial generation via you tube to spread the word about his kick the can kicks back campaign take a lot of. people up on this baby three people we love that girl and don't forget take part or get taken apart boy the usual will clean out the treasury before you get there. ok did you hear him though gold clean out the treasury before you get there i mean this is just so funny we had to play a clip is there anything you want to say about it while it goes put on the girl just like when you put that in your pipe and smoke. all these expressions i would love to see this goes for secretary but i don't think they would. probably be treasury secretary maybe but i'll tell you he brings a certain straight tal

are let's wrap up with loose change dimitri with a pickle cliff negotiations continuing one thing that we hear about relentlessly is taxing the rich. the rich pay as a percentage of their income less than the middle class does we have a tax system that needs entire over a home and he made clear that the rich must pay their fair share meeting taxes will go up to the top two percent who would talk with no one talk about reform just tax the rich more ok well a new study is being written about today it came out of germany and some economists found that there is a correlation between higher taxes and higher life satisfaction or third ject of well being from what i understand the dimitri they kind of try to weigh trying to find a way to make income. not a factor so just generally like taxation was correlated with better well being but some of the things within a study that i was reading where that the lower percentage on the lower scale of income they were happier paying taxes because they get more out of their taxes in terms of services so what it was the people in the middle lower the lowe

all right let's wrap up with loose change dimitri we can delve more of this fun video that we showed at the beginning of our show have you ever wondered what three hundred fifteen billion dollars in gold bullion looks like well a certain chemistry professor whose name is martin holy a cop visited the gold vault at the bank of england how did he get that i did not accept to find out here's a look. i've never seen so much go in front of the season so much of any elements so we're standing here and each show here it's got a ton of go which is worth thirty five million pounds. so a fifty six million dollars not taking out a lot of space i'm just so impressed that this guy got access to the bank of england when do you think we'll see this in the new york fed well i never know i mean they did have an audit you know ron paul wanted like a real legitimate audit in the parking lot it they might do something like that i know there are a lot of people out there that have. vast his positions about how much gold is in the vaults but i don't think the issue is if the physical gold is is there in t

ok let's wrap up with loose change because dimitri yesterday we wanted to do the instagram story because everyone was abuzz over changes that were announced to their terms of use which suggested that the photo sharing service could use photos of the users in ads well they faced a total backlash and now they're saying. that they will not be using an instagram like you see there in any of their ads they said that they'll change that language because they face so much opposition dimitry are you terribly disappointed because i could see that being a very valuable to some kind of company who wanted a great face to advertise some kind of prose for anti anger and anxiety medication maybe. something. why don't we have a feeling of. should be a prozac commercial there wouldn't bird flying through thing. i don't even require that you know if i had a very good credit as i am loathe to discover that that interview am will not be using our images or is all right now because i know me privacy folks we're all up in arms but you know i would be thrilled so i want to make sure we got them in there becaus

ok let's wrap up with loose change and dimitri you know we haven't covered the newtown tragedy the shooting at the elementary school which is horrible and in the wake of it we have seen a number of discussions about gun control gun laws if they should change what should change to avoid something like this happening again and also respecting the constitutional rights of americans have to bear arms here or a smattering of headlines but we're interested in talking about the business angle because we're seeing reaction from wall street to wal-mart so demitri kerber. breasts those kerberos made it awful no arrests no it's purpose capital it's a private equity firm anyway they announced that they would sell their stake in freedom group which owns shares in bushmaster which is the maker of the rifle that was reportedly used in the shooting the company released a statement saying our role is to make investments on behalf of our clients who are comprised of the pension plans of firemen teachers policemen other miscible workers unions endowments other institutions and individuals it's not our will to