a major decision at the european central bank today. >> a decision is being made in frankfurt after taking on risk through lending to banks. of coue, spending billions on as a government bond desk buying program. the european central bank has pulled in fesresh liquidity. they've seen their role altered. thursday's move drive some the point that if it is pushed to take on orthodox members, the member states will have to pay the bill. >> the ecb's additional capital will come from the central banks of the 16 countries that use the euro. the ecb intends to almost double its reserves to 10.8 billion euros before the end of the year. about 21 billion will come from the bundesbanke. although, britain will also contribute. since may, they have bought 72 billion euros from greece, ireland and portugal. it is the first time in its 12 your lifetime, the ecb decided to increase its capital base, indicating the severity of the situation. >> spain's treasury sold 2.4 billion euros of 10 and 15 year government bonds in the last scheduled auction of the year. the spanish treasury says the sale was a succ

federal reserve, the european central bank, and the bank of japan. e banks took the joint dollar supplying measure in may. the move came after the greek fiscal crisis triggered a credit crunch, making it difficult for european banks to obtain funds. the extension comes as ballooning debts in ireland and other european countries fuel credit concerns in the region and beyond. >>> japan's trade surplus in november fell 55.4% year on year. it's the first drop in three months. the finance ministry has announced in a preliminary report the trade surplus for november was $1.9 billion. that's down 55.4% from a year earlier in yen terms. exports rose 9.1%, to about $64.7 billion. imports grew 14.2% to nearly $62.8 billion. >>> toyota motor has set its global sales target for next year at 7.7 million units, up 3% from this year. the japanese automaker says it expects second consecutive yearly growth as it looks forward to increased overseas sales mainly in north america and asia. toyota predicts its sales in the united states will go up 9% from this year's esti

a major decision at the european central bank today. >> a decision is being made in frankfurt after taking on risk through lending to banks. of course, spending billions on as a government bond desk buying program. the european central bank has pulled in fesresh liquidity. they've seen their role altered. thursday's move drive some the point that if it is pushed to take on orthodox members, the member states will have to pay the bill. >> the ecb's additional capital will come from the central banks of the 16 countries that use the euro. the ecb intends to almost double its reserves to 10.8 billion euros before the end of the year. about 21 billion will come from the bundesbanke. although, britain will also contribute. since may, they have bought 72 billion euros from greece, ireland and portugal. it is the first time in its 12 your lifetime, the ecb decided to increase its capital base, indicating the severity of the situation. >> spain's treasury sold 2.4 billion euros of 10 and 15 year government bonds in the last scheduled auction of the year. the spanish treasury says the sale was a su

this is a meeting of the european central bank. they are trying to shore up confidence in the european central currency. they kept interest rates on hold at 1%. this news was expected. they resisted pressure to commit to a massive bond program to contain the debt crisis. the president jean-claude trichet said that the bank would keep the costs of borrowing steady in that they desire to create a liquidity safety net. >> they kept the interest rate on hold and this was widely expected and was the decision to give thanks liquidity until well next year. they did not pledge to step up the pace of purchasing government bonds. since may, they have bought 67 billion euros of government bonds but jean-claude trichet said thaha the program would not continue indefinitely. >> [inaudible] >> stocks led the broader european market higher. our correspondent has more on today's trading from the frankfurt stock exchange. >> it is an interesting trading session. add to the end of the day, the stocks added more than 1.3%. all eyes were on the ecb tod

the european central bank moved to stem the growing euro zone crisis with hefty purchases of portuguese and irish debt and kept its benchmark interest rate at a record low 1%. major retailers reported stronger than expected sales in november, another hint consumer confidence is improving. abercrombie & fitch jumped after sales soared 32%. the number of people who signed contracts to buy homes jumped more than 10% in october. economists had expected a slight decline. >>> ahead of this morning's government's release of november's unemployment figures, data yesterday showed the average number of november's new unemployment claims fell to a two-year low, while economists expect today's numbers to show well over 100,000 new jobs, they also expect the unemployment rate will remain at 9.6%. it would be the 19th consecutive month above 9%, breaking the postworld war ii record set during the 1980s recession. >>> elsewhere, pepsi is now the world's largest beverage maker after buying the juice company for just under $1 billion. >>> the trustee seeking money for former clients of bernie madoff you

at the end of the day, if we buy in the federal reserve and european central bank war john bonds -- more in job bondjunk be would be in the deepest trouble. >> major talks on iran's disputed nuclear program are under way in the swiss city of geneva. the first such negotiations in a year. >> officials say the discussions were constructive and will continue on tuesday. tehran's chief negotiator held talks with katharine ashton is negotiating on behalf of the united states, britain, france, germany, russia, and china. western countries believe iran is trying to build a nuclear bomb, but tehran insists it is pursuing a civilian program. our correspondent frank hoffman has been observing those talks and gave us this assessment of the significance of the negotiations. >> the best expectation is that the talks will continue. the rumors were heard from brussels, they do not want to do anything that could give tehran a chance to step back away from these talks. the chief negotiator from iran arrived here in geneva saying it is only the other side of the security council members and the european u

the rally surged on speculation the european central bank will finally take strong sweeping steps to end the mounting continental debt crisis. also fueling buying, a report showing small businesses added the largest amount of workers in three years. good news ahead of tomorrow's government figures on november unemployment. positive data just kept rolling in. manufacturing activity rose in november for the 16th straight month. the federal reserve announced the economy improved in 10 of 12 regions. automakers posted better than expected sales for november and pointed to a slow but steady return of consumer demand. a research firm reported online retail sales for cyber monday hit an all-time high, more than $1 billion, a first for web shopping. elsewhere, the federal reserve revealed details of trillions of emergency aid it gave to both u.s. and foreign banks and nonbank companies during the financial crisis. the biggest borrower was citigroup, $2.2 trillion in emergency lending. interestingly, goldman sachs, viewed as one of the stronger banks during the crisis, actually was one of the

germany's more in favor of giving extra powe to the european central bank to buy more got to the bonds. then the talk and debate over do they issue single european bonds? one single e. bond as opposed to these individual government bonds? so they've got a lot to talk about. as long as the markets don't focus on the division but the measures announced. >> the -- >> more on that shortly. >> thank you. >> let's take you back to our main story. julian assange, founder of wikileaks back in a london court as he seeks bail. this after prosecutors challenged bail by the judge. well, his lawyer spoke oths the high court just a few moments ago. >> today's hearing is entirely a matter [inaudible] there have been no changes in the circumstances. -- going to be very much -- earlier this week. and it's a matter for his decision and his decision alone. >> that was mark stevens, the lawyer. with me now is greg wood. greg, difficult to get a clear sound of exactly what mark stevens was saying other than effectively this is a rerun of the previous hearing. >> well, it is in the sense that there will be

and the european central bank is beefing up the credit markets of countries at risk there. the bank will buy more government bonds of some financially stressed countries like spain and portugal. still ahead, from "home, sweet home" to "home, tiny home, or how micro-houses are the next big thing when it comes to living in japan. >> tom: some big news from the nation's retailers today that suggests holiday sales are off to a merry start. many stores reported november sales numbers, and a closely watched index showed an average increase of 6%, almost double expectations. erika miller looks at whether sweeter holiday sales will mean more retail hiring after christmas. >> reporter: let's not sugarcoat things. sales at the chocolate boutique michel cluizel are up over last year, but store manager michele saint laurent says customers are spending less per transaction. >> i think that they're probably looking to get as much for their dollar as they can. so they are spending maybe a little bit less, the purchases might be a little bit smaller. but buying maybe more gifts, it seems.

european central bank, $8 trillion? guest: right, right. but we have to understand that that was not a gift, not a loan. it was an exchange, a swap of assets. now, one could argue, what of those assets they gave us to deteriorate in value, etc.? but at least in the short-to- medium term, i don't think that is a serious issue. the reality is that the fact that these numbers are out there, the fact that the caller has been asking and you have been asking, is a political problem for the fed. it is particularly a political problem for the fed to they have to do more of this. it is not beyond the realm of possibility if the european crisis gets worse that the demands on the fed could grow. let's be frank, it would be in our self-interest because of what we have talked about before, that an impression of the european economy -- implosion of the european economy -- we would suffer. we should not kid ourselves about that. host: next call for bruce stokes, oregon. caller: good morning, steve. if you would give me just a little bit, we had the gentle

european central bank, $8 trillion? guest: right, right. but we have to understand that that was not a gift, not a loan. it was an exchange, a swap of assets. now, one could argue, what of those assets they gave us to deteriorate in value, etc.? but at least in the short-to- medium term, i don't think that is a serious issue. the reality is that the fact that these numbers are out there, the fact that the caller has been asking and you have been asking, is a political problem for the fed. it is particularly a political problem for the fed to they have to do more of this. it is not beyond the realm of possibility if the european crisis gets worse that the demands on the fed could grow. let's be frank, it would be in our self-interest because of what we have talked about before, that an impression of the european economy -- implosion of the european economy -- we would suffer. we should not kid ourselves about that. host: next call for bruce stokes, oregon. caller: good morning, steve. if you would give me just a little bit, we had the gentle

mechanism which would include the creation of a new and independent institute a long sigh and european central bank would have the same independence as the ec bb. >> at the frankfurt stock exchange, christmas has seen investors the concerns about the eurozone debt crisis to the side for now. but behind the scenes, eu leaders are considering long- term rise of shielding the single currency from speculators. experts said of the german finance minister have drawn up proposals for european financial stability fund. officially, it is the case study, not a policy draft. but it could be floated at a january meeting of eurozone finance ministers. the fund would be a new institution, working parallel to and independent of the ec be. it would hold enough reserves to give emergency loans to struggling eurozone members. it would ensure that governments maintain a strict condition that would go with the loans. the institution would be modeled on the international monetary fund based in washington, which performs a similar role for its 187 member states. this year, for example, the imf help fund the bailout for

. >>> in biz news the european central bank has kept its interest -- key interest rate, that is, unchanged and a record low for a 19th straight month. the move is aimed at easing credit concerns over the region's debt problem. the central bank decided on thursday to maintain the rate at 1%. it made the decision for the 16-nation you're o'zoen at a board meeting at its headquarters in frankfurt, germany. the bank also opted to continue offering unlimited three-month funds to financial institutions. the move comes after the eu decide last month to bail out ireland, which has excess debts. the eu and imf will inject a combined 85 billion euros, or about 110 billion u.s. dollars. but that wasn't enough to stamp mounting concerns that credit woes may spread to other eurozone economies with huge fiscal deficits. >> down side risks will lead to tensions in some segments of financial markets and their potential spillover to the euro area economy. we will continue to monitor all developments over the period ahead very closely. >>> overseas during the year-end -- the number of japanese travelers hea

program we reveal to you the shenanigans over goldman sachs now michael bloomberg is suing the european central bank to get them to reveal that goldman sachs is the bank that cooked greece's books to get them into the euro we also told you about j.p. morgan's amounts of illegal so we're short position we've got them so scared now they're moved their eagle silver short position offshore now a new bank in the news major financial terror is tearing up the global economy for a few quick but it's bank of america stacy herbert tell me more yes max kaiser bank of america is in the news the first headline i have to read is just his sterile they're planning on major chaos coming major anger from the peasants coming regarding their shenanigans because the first head irene's wow bank of america bought sucks and blows u r l's for like everyone at the company so apparently bank of america's past four hundred thirty nine u r l's including things like brian moynihan sucks dot com who is the c.e.o. and then they went out of their way and bought all sorts of u.r.l.'s for other executives katherine best say it sucks

to shop themselves and that's a good idea so you know the between the federal reserve the european central bankthe i.m.f. the world bank. sovereign nations sovereign people around the world those mountains are being you know loaded up with debt and the brits apparently are happy to take this debt and dive in debt you know they got all those pumps they're like the parrot the dead parrot in rat the sick rename all those pods pubs like the the the debt and you know the credit card overdraft and the parent you know the oh you know these types of things and will say you're shy or parroting credit card and a house you know they've got to go with the times or here's the headline iceland is no ireland a state free of bank debt grimson says so this is iceland's president olafur grimson and he said his country is better off than ireland thanks to the government's decision to allow the banks to fail two years ago he said quote how far can we ask ordinary people farmers and fishermen and teachers and doctors and nurses to shoulder the responsibility of failed private banks you've got a global insurrection

without question but the financial markets fell the 16 years of nations or for that matter european central bank has enough financial firepower to rescue countries like spain, greece, ireland, or maybe it late, the states can no longer afford to bar what they need. in the chair will be the european council president was spelled out what was in store last week. >> we have agreed to set up a permanent financial stability mechanism for 2013. >> the euro's largest bank roller germany -- angela merkel repeated she is against any idea of eurobonds issued jointly by all 16 in the zone. but there remains a big flood whether bank creditors can be forced to write down some of their loans under arrangements that last until the middle of 2013. >> now we have a situation in which politicians say up to 2013, insolvency is not an issue. but after 2013, insolvency could be an issue and then we would like to have been private investors participate. this is an and guns that since -- inconsistency. >> if the full council agrees the rest in shield could be in place but it does not allay the worries about whether we

think and you are talking about organizations like the international monetary fund from the european central bank controls or they are instruments of the international power of capital and they have a few in for themselves of the government policies you know those spain or britain or greece and and i think that issue is going to become a very big one look ahead and how can we pass the power from the wallet to the ballot well historically it's been done by people who campaigned for it and then the slavery was abolished because people looked. a slave owner for all being a slave and said who gave him the right to do that to that man and once you are still question who gives him the right to do that then you have opened up a debate about democracy and is that what we're seeing happening now with these protests on the streets of europe well i think all demands by people to be heard. sometimes expression themselves in protest but otherwise you know argument or these are demands. central to the future advance of mankind and how has that happened do you think that we have gone from being a fairly politic

and european markets a high a speculation continues that the european central bank may take steps to halt the sovereign debt turmoil flagging the region when it meets this often and mining stocks already doing gains on the footsie with rio tinto up twenty percent. russian billionaire alexander nessus plans to invest one billion dollars in a rail car factory to meet the increasing domestic demand for transporting for materials the taken rail car factory in northwest bra is set to increase its output to at least ten thousand feet by the end of next year the plant has long term agreements with soldiers of russian railways and private approaches for a woman in rail cars in operation russia they have a life span of a long twenty years. from cintas was a relatively small russian pharmaceutical company which has just raised almost fifty eight million dollars in an i.p.o. in an exclusive interview with r.t. the company's chairman richard jenkins talks about that and its plans to expand abroad. considering united states europe and israel. we are looking for a small growing generating company

be something on the order of quantitative easing which would have to be under taken by the european central bank which is the only entity in that euro system which is allowed to actually generate more money so that solution i was suggesting was called. deficit easing but another solution which i like a lot would be to mimic the banker north dakota. in the u.s. of course the u.s. states are in the same position as the. euro land countries which is that they cannot print their own money but what they can do is own a bank for only one state actually does this that's not because it's also the only state that is showing a major surplus while virtually all the other states are. deficit and many of them are in desperate li bad states like california which is my own state so tonight because it has its own bank and therefore they have their own credit machine so you don't actually have to print money you can generate credit with the bank brutally all of our money today is created by banks anyway so if the state itself had a bakery or that the country and ireland's case had its own bank it could be lendin

have done so much damage to this country and we are being a commie if the european commission european central bank want to save the euro then they should pay for it on the phone told us on the speculators who calls the crisis they should play to save the euro not poor. poor people and working people who have no responsibility no hand or part in creating this crisis in the first place and frankly i don't care one way or another whether the euro survives but i care about as is that there's fairness for ordinary people that they aren't expected to so for hardship and poverty as a result of the mistakes of politicians bankers and financial speculators. more on this in everything we cover a click away at our. on line right now singing a song for. killing human life we told me because it was find out about the middle eastern musicians who are reinventing the protests . and going that extra mile for the adrenaline rush to see a russian base jumper take on an antarctic mountain all that and more put away. the founder of the whistleblower website wiki leaks says the pentagon is planning his prosecution in

european markets have opened higher the speculation continues the european central bank may take steps to halt the sovereign debt plaguing the region when it meets this afternoon mining stocks a leading gaze would footsie with. the stands and every day just talks to hire help by improving u.s. economic data and easing worries about european debt brazil stocks with a rise in hong kong and higher commodity prices car makers have also hit head on both indices pushed by strong vehicle sales in north america is on its four percent higher and honda is adding around three percent. russia will be australian dollar two is this international reserves the head of the country's central bank says this may happen within six months u.s. dollars and continue constitute more than forty percent of russia's reserves along with british pounds and japanese yen the central bank has already invested in a small amount of canadian dollars reserves consist of foreign currency gold and other assets. the german energy company eon is selling its remaining three point five percent stake in gas prom for more than th

and i very near markets are higher as speculation continues but the european central bank may take steps to halt the sovereign debt table plaguing the region but it meets the sultan the mining subsidy leading against the footsie with a return to up to five cents. russia will out the australian dollar to international reserves the head of the country's central bank says this may happen within six months us dollars a year right constitute more than forty percent of russia's reserves along with british pounds and japanese yen the central bank has already invested in a small amount of canadian dollars reserves consist of foreign currency gold and other assets. the german energy company eon is selling its remaining three point five percent stake in gas prom for more than three billion euro russia's v.e.e.p. bank by two point seven percent the rest has already been sold in the market despite this breakdown in relations eales says it will continue investing in russia's energy sector. and saying with gas from other russian gas giant and ukraine's energy company enough to organize have agreed to

so much damage to this country and to the european economy if the european commission and european central bank want to save the euro then they should pay for it on the bondholders and the speculators who caused the crisis they should pay to save the euro not for. poor people and working people who have no responsibility no hand our part in creating this crisis in the first place and frankly i don't care one way or another whether you're a survives but i care about as is that there's fairness for ordinary people that they aren't expected to suffer hardship and poverty as a result of the mistakes of politicians bankers and financial speculators. but a reasonable turn surely was a staged in performance from a kremlin crew. prime minister putin takes to the mike find out why a little bit later tonight. supporters of wiki leaks declared cyber war against companies they see as obstructing the anti secrecy website master card visa and pay pal all come under attack when they stop taking donations for wiki leaks and after the swiss bank account of its founder julian assange has frozen he's been arreste

federal reserve under alan greenspan and by the constituent central banks of the us empire whether it's the bank of england or or the european central bank over stimulated consumption massively so we have too many houses too many cars too much spending when prosperity is based on saving and investment so yes we're taking a turn back towards not consuming not spending saving and investment that's what we have to do of course we have as enemies against us the governments of the west the central banks of the west which are holding interest rates so low we need dramatically higher interest rates stimulate saving and investment to reward the savers and investors and we need to get away from what mr bernanke and all the rest are doing to us david what do you think about all this is i mean again is this a choice or is it just something that we have to accept we have to accept living smaller we have to accept living more modestly because we still have the demonstration effect out there we do remember the top one percent top three percent of society particularly in the united states will just continue to live lavishly and actually be