cannot print dollars they can print euro's but for them to get dollars they have to go to the fed so they have the swap line so interesting from the feds point of view they're looking more and more like a hedge fund they've got longer maturity the u.s. government obligations they've got more euro denominated obligations they're doing it with more and more leverage so the fed is in a very risky position probably technically insolvent at this point in the fed is insolvent sure how can that be in selling clothes and where they have sixty million of campus or sixty billion of capital and about three trillion of assets that are legacy assets if you took the intermediate sector and just mark from to market and the mortgages they've got pierced turns out that if you mark this. off the market you know we don't know for sure if they're nontransparent there's a good chance that the world says would be greater than sixty billion dollars which would wipe out their capital now they're not going to say that and i'm going to put it on the balance sheet because if you market the market i think that'

of the type of dollar that exists now backed currency dollar that will go to infinity dollars per ounce of as far as the gold racks my target basically is goal should be higher in price then the points on the dow it should take fifty oxes or west probably this time around for gold to buy a single family median priced home in the united states so per ounce one fiftieth of a single family median priced home or one share of the dow that's my price or goal all of the things they're all going to have an impact but it's just one of the little jags on the way to infinity ok so let's talk about that gold our a chef our second because that's caught as says storage plants are saying there are two times in the past for the dow jones and gold have recent one for one perry one nine hundred eighty of course the dow jones was at eight hundred the price of all those eight hundred and i think go back into the one nine hundred thirty s. or the price of gold as something on the crest of gold was twenty dollars and sixty seven cents announced on a day where the dow was at forty eight point two two points f

dollars and the u.s. dollar was backed by gold at thirty five dollars an ounce and then next and stops the convert ability into gold in one nine hundred seventy one in the world has been on a dollar assists standard since then so we've gone from on baby steps from gold to personal go back into less fall back into no little back in where where currencies are all back to iou spawn's well every thirty to forty years this falls apart now we've got to go back to something from nothing if the central banks are going to use their goals to back debt what are they going to have left when the world monetary system sees this next shift i think the countries that do that are going to being broke in the countries that still have some gold are going to end up being very rich right now china's you know they're massively importing galled and it seems to be a bit of a wealth transfer going on from the last to the east and here you concur with that what are your thoughts absolutely this is part of something called the five

for a loaf of bread they give you a dollar and they want the dollar back. with ten percent or something on top of that right so they're always taking back more than they put out so it's a net exponential parasitic growth on top of this arithmetic normal sustainable ok so i want to get out of that system is just getting bigger and bigger and i want to get it and i want to get into what what we could do if we were to change this and how we might go about this and the whole concept of a dead jubilee we're talking with ellen brown will be back with more of our conversations with great minds with helen brown in just about. what drives the world the fear mongering used by politicians who makes decisions to break through get through to people made who can you trust no one who is you know view with a global reach see where we had a state controlled capitalism is called sasha's when nobody dares to ask we do our t. question more. five. three. five. while the magic conversations with great minds tonight we're speaking with author and attorney ellen brown in los angel

you're not gonna pay seventy dollars. you're not gonna pay sixty dollars.would you like to own this knife for three easy payments of only thirteen dollars thirty-three cents? how does that sound, huh. yeah, cousin arnold. my dad wants everyone to have one of the sportsman's knives. oh, this is my favorite. you guys are gonna love this thing. you guys, anybody ever go hunting or fishing? huh? yeah. well, this is the sportsman's knife. look at the flexibility of that blade. it has the same blade, the same edge, the same handle, the same life time guarantee; never get dull. this knife goes through bones and all when you're doing your filleting of the fish. here, let me show you something right now. you put that underneath, between the flesh and the skin, and you just press. that fish will jump right of his underwear, swim around naked, die of pneumonia, before he knows what hit him. this knife is so sharp. i want you to see this. you can actually take and fillet the fillet. got a nice piece of meat over here. look at this. first of all, if you want to butterfl

dollar has no value it's the devil's currency. hold on to german people as you see max nobody was listening to you they should have no i mean when central banks were net sellers of gold including the federal reserve bank and bank of england that's when germany should have said oh by the way give us back our gold but now the goals of play and all the global banks are collapsing it's too late you screwed up germany no gold for you buddy ok well at least max germany is not a serious debtor like italy. crisis italian borrowing costs soar to bail out territory so we know italian debt is that two point six trillion dollars was dwarfs that of greece. and the yield on the italian ten year bond went up to six point six six percent as you can see from the start spiked right now on good to take the hot seat away from grace who took the hot seat away from ireland but the whole crisis will revisit ireland again they just found an incredible new realize liability and their bank's balance sheet that will require another bailout in ireland and mo

the ten thousand dollars a month you know is goes so much because the crying is believed to be part of your spirit you heard him right a ten thousand dollar martini and that's not all that's on the menu for america's richest one percent how about a burger stacked with gold lakes on it while america's elite line and designs on the woman yacht. lost my house my dues. and now i'm just going to surviving millions of americans struggle daily at the put food on the table some even wait for days on end for handouts to feed their family and it's a harsh economic reality to digest from one home to another many have nothing to be thankful for. this is from our eye. this is the one to me. hard. and fighting to survive it's no secret that the us is power hungry especially when it comes to new forms of energy but sometimes the greater good isn't so good for everyone as lawmakers look to america's energy future what legacy are we leaving behind. it's friday november twenty fifth four pm in washington d.c. i'm liz wahl if you're watching our t.v. well the holiday season kicks off at a time when our e

dollar here's what he did. bush has been disadvantaged time and time again they just sort of try to play by the rules the rules of the dollar system but they get into these periodic currency collapses so we were working out you know obviously for the pentagon and they've done many war games over the decades but always you know military invasions arm or whatever this was the first financial working with the only weapons allowed were stocks bonds derivatives the main countries contestants in the war game where the united states russia china and we had another group representing europe and hedge funds my role at the pentagon to have a play word games but they didn't know that much about wall street and my role was to give them that expertise and i actually got to play on the char the team but i recruited a friend to join the russian team and we cooked up a little plot we said the oh let's give the pentagon the money's worth and show them how the world actually works and the plan was to have russia and china deposi

instead of holding dollars they hold dollars and euros. more or less inevitable. there are three hundred million people in the united states and seven billion people in the world. under those circumstances things are going to even out a bit from where they were 60 years ago. >> one of the wonderful things about both these books besides the fact that both these gentlemen are teachers who can really write which is not something you always see in scholars, these are really great books to read. these books are also more than just an op-ed piece about that and the dollar but there histories and really interesting histories about things we don't know much about. i will put data on the spot. one of the most interesting things you wrote about was talking about that and virtual money in context of the slave trade in africa. such an amazing chapter. talk about that. >> one of the fascinating things. i discover all sorts of crazy things ranging from debt cancellation amendments in mesopotamia to free-market populism is out of sharia in medieval persia. one thing that struck

taxpayers billions of dollars. and i'm counting money in iraq to counting votes in egypt millions head to the polls to cast their vote what many tell as the first fair election in decades others are borg boycotting the ballot box and taking to tahrir square r.t. is there with the very latest on the egyptian elections this is really kind of a moment where you might look back and say this is the chance where merging markets finally got their opportunity the east meets west as the eurozone continues to crumble it seems europe is getting a helping hand from some unlikely friends china to be exact so could this be key to the e.u. financial fortune. good evening it is tuesday november twenty ninth seven pm in washington d.c. i'm christine for watching our team. well to begin this hour with something that's going on here in washington something u.s. lawmakers are working on that you probably haven't heard about it's a bill in the u.s. senate paul the national defense authorization act and may be voted on as soon as tomorr

the dollar coin has come to die. >> the susan b anthony dollar. have these presidential dollars. >> these presidential dollars are the congress's latest effort to get americans to make the switch from green backs. they'll eventually be engraved with the face of every dead president. >> this idea has been around a long time. >> there is a simple reason lawmakers keep on trying. using dollar coins would save the government more than $5 billion over 30 years. >> because the dollar coin lasts for up to 30-year, a piece of paper lasts for about a year and a half. >> but that only works if people use them. and so far they haven't. >> you could mistake this coin for maybe a quarter. >> and millions of dollars of coins are filling up the vault. they cost millions of dollars to ship and store. >> if you were to phase out the paper dollar, those coins would get into circulation very, very fast. >> in other words, says kobe, dump the dollar bill and americans will embrace the dollar coin basically because they won't have a choice. i've got some free money. b

dollars. all right so you might get the point that for every billion dollars money stolen by bank of america citigroup other banks they get fined made me think they are going to billion dollars so obviously it behooves them as simply continue in that mode there's nothing to stop them now i want to make a comparison out sign up because you are right about china off on your blog you talk about how american labor might benefit if the wages in the us are more competitive with china on the same and the same thing i can we would you also look for similar just the standards and america that we see in china reason i bring this up is that china caught a hundred million dollars or so or a billion dollar ponzi scheme recently and they executed the perpetrator if you think this might be a good idea for the head of citibank and goldman sachs and j.p. morgan to be executed by the state. want to find them take away. just taking away all the not. just. part of all of these. place though you last cry i wish so

your family fifteen hundred bucks in the new year and while all of america is going nuts over two dollar waffle irons and holiday deals that are in most cases actually too good to be true lawmakers in the u.k. are preparing for the end of the world at least in economic terms so what are we missing here. you need to know this when you speak truth to power power backs down over the weekend two major occupy wall street movements were threatened with eviction and neither back down in los angeles mayor antonio bill or hillary goes so that gave occupy l.a. patriots until twelve zero one am this morning to vacate the park across from city hall that they've been camped out in since october first but that deadline came and went with no crackdown why because as a midnight deadline approached thousands of supporters rallied to the occupy l.a. encampment in solidarity to make it impossible for police to move in face to face with thousands of peaceful patriots the riot clad police backed off and this patriots then the patriots inside the camp began chanting we won we won so for now occupy l.a. lives

you can see other countries are on the hook for hundreds of billions of dollars and billions of dollars two hundred sixty one billion for germany to give you an example forty six billion in the case of the united states this is their exposure to italy the question to as we're seeing this unfold we're used to seeing major bondholders exercise control of large corporations even taking direct control by replacing members of the board of directors but are we now seeing this model of corporate thundering being applied to solving countries because what we've seen in response to the bond market all the things i just showed you the bottom are being dissatisfied with the decisions that are made with the situations these countries are and what we've seen is changes in governments to try to satisfy these investors first and derail the prime minister in greece now girl loose kone the prime minister in italy. the concern was that they couldn't put in place the kind of reforms to satisfy investors to satisfy creditor demands and so the governments were changed so that's a big question also what does

can't print your hours the fed can print dollars and the i.m.f. can print these s t r's which is another thing i've currency global currency now in response to this ingestion about the selling or collateral zation of germany's gold germany countered with a suggestion that instead they suggest that italy sell their gold to pay down the debt now of course italy's got a big gold position in all of this distance walk us through that little counter response from italy and their position in the gold right now you know i've described i've actually studied the entire world in gold space and what i mean by that people you know geo strategy or study of the world of oil space this who's got the oil who needs the oil one of the choke points are the straits of hormuz how is it shipped to cetera think of the world in gold space and ask yourself who has the gold who needs the gold and where is the come from as a very revealing picture of the gold superpowers in the world. or actually the united states and europe they may have they may be trying to charge the pap

dollars even though i'm wildly bearish on the u.s. dollar long term as well what i saw back in and still see is the euro unfortunately has become a political currency rather than an economic current sea and politicians are trying to make their names and reputations by taking potshots at the euro or threatening to pull out of the euro unfortunately euro when they started they should have put together a few sound countries and then let the people in in a very slow and methodical basis only the people who knew they had run sound economies but the bureaucrats in brussels like bureaucrats everywhere power on going to start saying let's bring in everybody in town us are here and have a party and they let him use phony books everybody knew that the people using phony bookkeeping so now the euro zone forces this integrate sometime in the next decade or so it's a shame because the world needs some things you compete with the u.s. on paper the euro is perfect it's not a big debtor entity like the us as a whole i mean they've got greece which is

state department this wandering of resources occurred while levels and dollars a couple of thousand dollars here and there and all the way up into hundreds of millions of dollars that were spent on hospitals that never opened or prisons that never took any prisoners in the commission on wartime contracting is out of business now after congress cut its funding. the details of their program see. of until two thousand and thirty one they don't want certain people in high places. to come under scrutiny but the us congress wants to put the debacle of our iraq invasion behind the scope of the waste and fraud is enormous the u.s. justice system goes after individuals who have stolen a few thousand dollars here and there but not after the big players the big contractors that have really made a killing on the wars i'm going to reporting from washington kate. american counterterrorism expert david gardner says u.s. policies in the fight against terror have been mis directed and you can watch his full interview later this hour by here's a preview. here was the war in iraq which diverted resources away

thousand dollars here and there and all the way up into hundreds of millions of dollars that were spent on hospitals that never opened or prisons that never took any prisoners in the commission on wartime contracting is out of business now after congress cut its funding. the details of their probe see. until two thousand and thirty one they don't want certain people in high places. to come under scrutiny that the u.s. congress wants to put the debacle of our iraq invasion behind it the scope of the waste and fraud is enormous the u.s. justice system goes after individuals was stolen a few thousand dollars here and there but not after the big players the big contractors that have really made a killing on the wars i'm going to check on reporting from washington r.t. . all right so when it comes to waste and fraud certainly iraq is not the only country where this goes on but it is a country the u.s. military promised to help rebuild in some ways they have done so but as you just saw there are other ways in which the u.s. military personnel have destroyed the land as well as the trust of th

the man's daughter is offering a thousand-dollar reward...f the ew owner comes forwaad with the money. straight ahead... facebook and it's issues with privacy!hhw the federal trade commission ssys... the website misled users. users.and later... don'' just visst the empire state &pbuilding... own itt find out how the iconic big apple skyscraper could soon be part of your stock portfolio! ((break 3)) a÷a÷ --reporter pkg-as follows -- stocks edged higher tuesday on hopessthat european leaders are making prooress in getting control. the dow... ended up 32 to close at 11-thousand 555. the s and pp550... also closed nearly 12 points.it looks like americans thinn the economy is getting better. consumer confiddnce rose sharply heading into the holiday shopping season.it's now at the highest level since since july.eecnomists haddbeen expectiig only a modest increase.home prices contiiued to fall in the third quarrer -- sinking to levels we haven't seen since 2003. s&p/case-shiller reports they declines are slowing down. - there was a nearly six percen

state department the squandering of resources small levels a thousand dollars a couple thousand dollars here and there and all the way up into hundreds of millions of dollars were spent on hospitals that never opened or prisons that never took any prisoners in the commission on wartime contracting is out of business now after congress cut its funding. the details of their probe see. until two thousand and thirty one they don't want certain people in high places. to come under scrutiny in the u.s. congress wants to put the whole of our iraq invasion behind it the scope of the waste and fraud is enormous the u.s. justice system goes after individuals who have stolen a few thousand dollars here and there but not after the big players the big contractors that have really made a killing on the wars i'm going to check on reporting from washington our team. a counter terror operation is underway in russia southern republican. a group of militants has been cornered in a building in the capital city of trying to flee from special forces both sides have been exchanging fire but there are no repor

government it received forty three million dollars as a loan guarantee from the obama administration's clean energy program and of course there was the solar panel makers the lindros that went belly up a couple months ago now that one could cost taxpayers five hundred million dollars now cylinder one of the alone for solar panel maker is declaring bankruptcy two other u.s. companies declared bankruptcy around the same time one of the reasons they said they simply could not compete with china also the financial times today reports a deal to build a ten billion dollars oil refinery in saudi arabia is expected to be signed soon now this deal will go to china and that's after a u.s. company pulled out last year and now this is tapped in this report as a sign of more than just one deal but as a sign that middle eastern oil rich countries are shifting away from washington now the u.s. has fought wars in this part of the world over oil but you do not have to take my word for it just listen to former u.n. ambassador john bolton iran has made little secret of its desire to gain the dramedy in t

the best that ten thousand dollar machine is gold so most of these goes the grinding speed to be far in the experience. you heard in bride a ten thousand dollar martini and that's not all that's on the menu for america's richest one percent how about a burger stacked with gold flakes on it while america's a leading wine and design on the way many are. lost my house my business you know i'm just kind of surviving millions of americans struggle daily to put food on the table some even away for days on end for handouts to feed their families that's a harsh economic reality of the digests from one home to another many have nothing to be thankful for. and where an off with the government day after day different protesters are coming out by the thousands and some manage to change their government promised thirty eight dead over two thousand injured but they're not backing down so what will it take to get the protesters to leave tahrir square. it's friday november twenty fifth five pm in washington d.c. i'm liz wahl and you're watching our t.v. . well the holiday season kicks off at a time

you heard him right a ten thousand dollar martini and that's not all that's on the menu for america's richest one percent how about a burger stacked with gold flakes on it while america's elite wine and dine on the line many are. lost my house my business. now i'm just going to surviving millions of americans struggle daily as opposed food on the table some even wait for days on ads for handouts to be their family is a harsh economic reality it's a digest from one home to another many have nothing to be thankful for. and squaring off with the government day after day gyptian protesters are coming out by the thousands and demanding to change their government promised thirty eight dad over two thousand and thirteen but they're not backing down so what will it take to get the protests leave tahrir square. it's friday november twenty fifth eight pm going to washington d.c. i'm liz wall and you're watching artsy. well the holiday season kicks off at a time when our economy continues to struggle and it's perhaps this time of year when the growing income inequality gap and wealth disparity i

dollar thirty percent are. pretty significant effect that's make the timeframe a really all depends on how this happens the smart thing to do would be for germany to get out of euro zone and let all the pigs your portfolio least graze like your own. really just because you're always structurally unsound there is no currency you're ever in history that's just hearing you and you know. and the fun part is this were certainly this is going to be the first all right let's. go for a second here in chicago and we've got a big scandal and i have global and there's a couple of different moving parts of this scandal you track this stuff brokaw's link tell us your thoughts on the m.f. global scandal oh i am one of the well you know there's i think we have recused from the rights. these guys gave them so huge bonuses. right for. course you know meanwhile you know wall street. once focusing on you know all these little. streams. you know you learn stupidity but if you take action against its. own interest money right befor

taxpayers billions of dollars. evening it is tuesday november twenty ninth eight pm in washington d.c. i'm christine for you're watching our team. well it's begin this hour with a deeper look into an industry that could be coming to a backyard near you i'm talking about the fracking industry and we've talked about fracking quite a few times here on r t i personally spent several days in a small town in pennsylvania called dimmick in which many of the people who live there say fracking has ruined their lives and we need a little refresher fracking is short for hydraulic fracturing or natural gas drilling now this is the process of releasing natural gas and oil from underground formations so drillers come in and use it stream we high pressure up to several million gallons of fluid made up of water sand and chemicals the process creates fractures in the rock that extend out from the well and allow additional gas and oil to flow to the surface this has been billed as the answer our country needs to wean us off foreign

per barrel while brant is a one hundred thirteen dollars. in asia equities are trading a lower exporters are among the main losers in japan with carmaker nissan losing more than two percent and property shares are under pressure in hong kong as chinese prime minister wen jiabao affirmed the government's intention to drive down real estate prices meanwhile energy major sea nucleus losing more than two percent after a deal to buy a major stake in argentina an old producer from the fell apart. and here in moscow market players returned to the trading floors after a three day recanted in the mile two hours the markets closed in the block on thursday the r.t.s. added one percent of all them i said still does. and that's all we have time for in this edition of business i'll be back in about an hour's.

s most expensive privately funded litigation is thought to be costing eighty dollars a second in here as for the legal fees mr rumored to be sixteen million dollars a barrel lawyers have their work cut out there on a no win no fee basis the pair used to be close miss to be. he gave his protege the all important leg up into the world of the super rich and we now know he was paid for his troubles but mr a says that was just protection money denying they were ever business partners it's not claim this case rides on but there's no concrete evidence after all this was ninety's russia none of their deals were written down five weeks in and i've counted a cost of nine billion as five russian one kazakh one is becky paul israeli one british the crown prince of abu dhabi is suddenly involved for transferring one point three billion dollars from one to the other not to mention future strange deals records of meetings that maybe never happened the whole thing's extraordinarily bizarre you try and place the whole thing together which becomes another difficult task because you don't know how much

truly in dollars alone go missing from the u.s. economy in fraud thirteen trillion which dwarfs this fraud here and nobody has faced any time not even an investigation because the bankers who committed the fraud also own shares in companies like correction core of america which is a private prison operator that needs no prisoners to turn a profit so they like it when these people go to joe and finally max the biggest insurrectionist against banker occupation out there is gold and that has been the most trouble sum of all the insurrectionists to the global banking cartel final headline venezuela scrambles to bring home gold reserves we've been following this . apparently the hundred and ninety tons that venezuela has asked for back from mostly from the bank of england is on its way but the propaganda against hugo chavez for asking for his gold back is stunning in this because they're saying it's just the latest in a string of grand gestures and controversial plans by the unpredictable socialist leader so they're ridiculing him as if