so it doesn't take much thought to realize that dr bernanke is wrong plain and simple he's wrong. there are so we have clear evidence of this because the u.s. as a debt problem and ben bernanke the solution over there at the fed is to just a monetary policy at attempting to extinguish the debt not with gold and silver but with more debt yes only yes for what he's doing cannot be considered money no no not at all you can't you can't you can't extinguish credit by issuing more credit you just end up with a larger amount of credit standing. i don't know whether dr bernanke he realizes this in the back of his head i'm sure he does he's not he's not a dumb individual. but the consequences of what he's doing i don't think he does realize or in fact any country that's monetizing that to this degree they do not realize the consequences of what they're doing and they will be nothing that they can do once once everything starts kicking off once everything starts spinning what i want to make very clear max is that you don't need marginal quantitative easing from here for asset prices to star

dr. bernanke at jackson hole.t the margins maybe disappointment for traders long 2015, 2016 treasury paper. >> how much could everything change tomorrow with draghi? >> it's a game changer. suggesting the markets really leaning towards draghi having that carte blanche, that blank check from the bundesbank to change the debt and the fed will be in a position to react. >> as liesman said, it would be great if the week is back to front starting with payrolls and then draghi and then the fed. thank you. >> thank you. >>> herb is here for the case of why amazon may want to best buy. >>> plus, the coolest story of the day, a group of die-hard who fans getting the chance to rock it out 33 years later. we are back after the break with this very interesting story. [ ] when she takes the starting block this summer, she's not just natalie coughlin. she's every 5-year-old who ever jumped in a pool and didn't want to get out. ♪ every coach, every rival who ever pushed her. she's the tip of a spear that goes all the way back to

dr. bernanke would make a definitive statement that qe-3 was coming immediately.e certainly told us it was on the table, that pending any further economic weakness, it shall be used. they used the term accommodation several times, so it's on the table. i think it's not on the table or not going to be put into effect until after the election but everybody now knows it's there. the gold market was fearful it might not be, it is, and up it went. and it's strong in all currency terms this morning, so it's really quite impressive. >> is there time to buy gold here now? >> if it is indeed breaking out to the upside, isn't it? and it's breaking out in dollar terms. it's broken out in yen terms a while back. it's breaking out to the upside in euro terms. i always want to say that gold is nothing more than another currency. it's just another reservable asset. and it's -- it's a currency cost. so, yes, it looks like it's going higher and i think one needs to own gold in euro terms, yen terms, and even dollar terms now. >> what about oil? >> that's a tougher one as far as i'

as long as there's an optimism that ben bernanke and dr. draghi and even the pboc come to the rescue of world speculators we retain the premium and certainly until there's some sort of, you know, i don't know what to say. there's some sort of conclusion? i don't think a conclusion is right word but until something happens in the middle east to say, look, the israelis or u.s. attack iran or they aren't, we have a fear premium in the market. indeed, we are. i want to ask about mitt romney yesterday pledging energy independence by 2020. we have heard it all before. good luck with that. many presidents and many presidential hopefuls pledged this kind of thing. is he able to do it? >> boy, are you right, mandy. every president since nixon pledged energy independence and nobody is closer to it. we made progress with obama in the white house and not much noted and most of it due to the fact in a recession or at least slow growth. demand is done and production almost intrinsically up and coming from the gulf of mexico and elsewhere and and that's w

dr. sanjay gupta joins me. pl plap. >>> we are getting news as this meeting just wrapped up. ben bernanke speaking.that is where interest rates will remain until 2014. that's been no change. the one thing investors were focusing on is what the fed is going to say about whether or not it would put more stimulus into the economy. nothing was announced. what we like to look at is the language. language kind of changed from what it said in june to what it said today. what it said in june is it's prepared to take further action as appropriate. kind of soft. softer than what they came out with today. they said they will provide additional accommodation to promote a stronger, economic recovery. they are coming out much firmer on the stance as to whether or not they will go ahead with any stimulus. didn't see much market reaction to that. that is certainly something that caught our attention. what it really remeans is the f wants to put it out there and act. it wants to wait until it gets a few more jobs report. the fed will meet again on september 12 and 13. they want to see it's really downward. they wan