part of the federal reserve bank system and ben bernanke in testimony to congress said that. the federal reserve banks and central banks around the world only hold gold as a matter of tradition so why go through this elaborate cocked sort of security system where must be millions and millions and millions and billions of dollars of a ninety tonne steel cylinder three thick with one hundred forty ton steel and concrete frame if it's just tradition exactly because bernanke is speaking out of both sides of his mouth these are duplicitous nightmarish ghoulish idiot but the fact is that going forward gold is the only thing that's going to keep these economies afloat and that's why there's a mad scramble for gold that's why since two thousand and nine central banks for the first time in thirty years ben buyers met buyers all of gold and stacy i make the following prediction when the paper apocalypse hits you will find central banks printing money not to buy bonds but to buy gold that's one gold bricks out to ten thousand dollars an ounce that's when the global market collapses that'

frankfurt has one thousand and thirty six tons or thirty one percent of germany's gold the federal reserve bank of new york has one thousand five hundred thirty six tons or forty five percent of all of germany's gold bank of england has four hundred fifty tons or thirteen percent bank to france has three hundred seventy four tons or eleven percent well that's not going to return to germany because as you head to the cliff whether stuff fiscal cliff or the bond cliff the gold held in america on behalf of germany will not be returned but germany knows this and that's why germany is ransacking the economies of europe right now because they have their eye on the gold in greece for example greenside the pledge on an eleven tons of gold to germany when they signed off on the memorandum to become beholden to the troika when they lost their sovereignty it only has twenty four hundred tons of gold i predict that italy will have to put that gold into the coffers of germany so germany is playing a game here where they are bankrupting europe by cutting off the credits may get in return these countries will

federal reserve bank is the american bank so they they fear ceding sovereignty to these foreign. however men's and there seems to be a lot of tension along those lines given the trends that we see isn't that fair justified i think it is justified in fact when you see the bundesbank position portrayed in the media they talk about it george as if they're isolated though nobody agrees with them but that illustrates the point all these institutions you just mentioned they're all pushing the same for lack of a better word globalist agenda taking sovereignty not just away from potentially the weaker euro area sovereign countries who do need help you could say but also the strongest of all including germany and how do the germans feel about that well they have a natural suspicion of it to begin with and know their own as i used the word a moment ago revered as it were buddhist bank is warning them that this process has already gone too far that there are certain powers that they should not give to the e.c.b. they should not give to brussels the powers of the bailouts you use the word gl

some are investors like these attending the chicago federal reserve bank's annual agriculture conference. while farmers still account for about three-quarters of the farmland purchased in the u.s., investors account for the rest and their numbers are growing. jon brorson manages three agriculture funds for mesirow financial that include 26 farms. he says individual and institutional investors are only beginning to realize the profit potential of farming. >> it's an asset that they fly over to florida or drive through to visit grandma. they're not used to thinking of it in terms of an investment. >> reporter: brorson says mesirow's funds have a five-year return rate topping 20%. while some investors are making money renting land to farmers, others are making profits on a combination of rents and bonus payments from grain sales. still other investors operate the farms entirely. >> we will hire out a custom farmer to plant, fertilize and harvest. we take the crop then and we insure it. we might hedge it, sell forward. >> reporter: competition for farmland is hot and it's not easily purchase

right there was the and zero percent interest rate pursued by ben bernanke the chairman of the federal reserve bank when he goes to congress and testifies why he's doing this he says well you know we have to keep on guard for deflation and we don't see much inflation in the system well over the past twenty years name change the definition of employer. at least twice they don't kluge food and energy and if they calculate inflation as they did twenty years ago the inflation rate including energy and food would be running at nine percent which is very very high and bernanke if he was responsible and he was looking at numbers in the responsible way would have already started raising rates two years ago three years ago four years ago to head off this inflation but no he's been doing quantitative easing and is again in artificially lower interest rates which are creating amongst other things a so-called fiscal cliff that's completely fabricated and invented by bernanke and irresponsibility at the federal reserve bank he's created one hundred million people around the world him and his fellow central bank

fiscal cliff that's completely fabricated and invented by bernanke irresponsibility at the federal reserve bank he's created one hundred million people around the world him and his fellow central bankers being thrust back into poverty as the paul moore top regulator in boston on this very show so this is a complete and utter three hundred sixty degree cluster. with this is are the banks have gained half a trillion dollars since the crisis began since rates. it's a zero so that the final one the biggest bank of all j.p. morgan i've got my protection to if i have to mention them i need protection my silver protection right the biggest banks are the biggest takers in this is are policy consider j.p. morgan chase is cut although it's deposits disproportionately increased by forty six percent since two thousand and seven i preserved the most of this max is due to their acquisition of washington mutual its interest expense has declined by nearly eighty nine percent while their deposits increased by forty six percent so from two thousand and four to two thousand and seven chase paid out thirty four po

i found out that for some time it's been shipping, including shipping that made the miami federal reserve bank have more cash than all the rest of the federal reserve banks put together. but now it seems to be pretty honest work. [laughter] and shipping. and i don't know if he's here tonight, an argentine journalist told me, he said miami is choice number two for everybody in latin america. only people in latin america can read the street names, that's one thing. but anyway, that -- and once i was here i knew so little, but i had a lot of friends including the mayor and chief of police john timiny. that's not a bad way to start. i say start at the top. [laughter] >> of course, when you were down here, we both told you that you had the mayor and the chief of police who had both immigrated to the united states in the same year, 1961, and both from an island, though an ocean apart. >> you know, i didn't realize it was the same year. that was, john was born in dublin, and i don't know how many of you really remember john's -- you probably do -- his faith. he is the ultra irishman. and when you loo

i found out that for some time it's been shipping, including shipping that made the miami federal reserve bank have more cash than all the rest of the federal reserve banks put together. but now it seems to be pretty honest work. [laughter] and shipping. and i don't know if he's here tonight, an argentine journalist told me, he said miami is choice number two for everybody in latin america. only people in latin america can read the street names, that's one thing. but anyway, that -- and once i was here i knew so little, but i had a lot of friends including the mayor and chief of police john timiny. that's not a bad way to start. i say start at the top. [laughter] >> of course, when you were down here, we both told you that you had the mayor and the chief of police who had both immigrated to the united states in the same year, 1961, and both from an island, though an ocean apart. >> you know, i didn't realize it was the same year. that was, john was born in dublin, and i don't know how many of you really remember john's -- you probably do -- his faith. he is the ultra irishman. and when you loo

not sure that's going to help much from their point of view. >> you're a senior guy at the federal reserve bank of new york. if stock markets fall and say the market goes into december down 1,000 points, down 15 hundred poin 00 points, do you think the fed will step in with a safety net and buy up more reserves? >> i think that might add to the wrong kind of volatility but they do have the meeting before we're likely to settle the fiscal cliff in mid-december and that puts the fed in a difficult spot. they will have to decide whether they are announcing the end of operation twist they are selling the short end and buying the long end which is supposed to expire at the end of the year. now, i think the original plan back in september was to sort of wait and come back in the first quarter and see whether they will do more, but they may have to hint at something at their meeting upcoming which makes me a little nervous. >> december 15, 16. >> yeah. >> they are not going to stop operations. they are going to keep buying bonds. >> if they stop buying bonds the market will look at that and go oh, my

the federal reserve bank with my research. student training. research the only competition and so you can actually get the real understanding to be able to articulate what the macro economy is about and what the federal reserve is about. so this is what i have high school and college students act like they are ben bernanke and try to speak in his language and give a ben bernanke asked types which is ironic because the fed's issues are with communication one of them today was the one thing annual national finals of the college by challenge you said that was a cute video tell me it was kid about that because that was horrifying to me but you tell me why that was to a mom all their kids get their kids i mean three there's nothing cute about kids going in i can like court jesters in front of a despotic marks and be the mom the priest of the monastery priests yeah look you know what when i saw it it was very hurriedly when i was doing it allows don't really know if we have the last or second this is nuts this is actually kind of crazy is just think

but what about the role of the banking sector because could one of the things that you're missing be that the vast majority of money isn't created by the federal reserve but by the banking system which generates loans extends credits and that they haven't been doing that to the same extent that they did before all the banks are extending a lot of credit thanks to the fed they're extending it to the government they're extending it to buyers of real estate who are buying homes or refinancing their mortgages there's a lot of money being created a lot of that is just going to non productive purposes thanks to the government thanks to the fed but i want to just get back to the the idea of inflation and why we haven't seen more because you're saying you've been talking about inflation for all these years and where is it well i still believe that there is a lot more inflation then is generally perceived or knowledged by these statistics by the politicians i've been taught. in about this poll that fox news did a presidential poll that they did a couple months ago where they polled over twelve hundred likely voters registered voters and they asked them what th

the federal reserve bank of new york came out as a winner against the former ceo of aig. the courts are dismissing a $25 billion lawsuit. it accuses the fed of unlawfully bailing out out the insurance company during the 2008 financial crisis. the lawsuit was led by former aig ceo hank greenberg. the government continues to sell off its shares of aig, and currently owns less than a 16% stake. after nearly four decades at the helm of intel, ceo paul otellini will retire in may. during his tenure at the world's largest chip-maker, otellini saw both highs and some lows. intel dominated desktop and personal computing, but fell behind in the era of tablets and smartphones. intel has seen its fortunes with that section of the market improve, but still lags. however, intel did continue to set sales and profit records in 2011. intel's board of directors will look at both internal and external candidates to replace otellini. it's hello ruby tuesday for jj buettgen. he's leaving his post as chief marketing officer at darden restaurants to become president and ceo of ruby tuesday. he

a grand jury has indicted a 21-year-old foreign exchange student accused of trying to the federal reserve bank in new york. they try to provide material qeda.t to al -- al qaeda. >> on capitol hill, the investigations and the deadly libya are under way. secretary of state hillary clinton will appear before after thebut only department internal review is completed. the former cia director will testify at congressional tomorrow, has denied that his resignation had do with that terror attack. scott freeman will have more the scandal.ving >> president obama at seeing firsthand the devastation that remains. they met with people still power, and he vowed to with them until the rebuilding is complete. donations have come from all country without are pitching here in. >> president obama was able to helicopter over some of area to see how extensive the destruction was. people continue to roll up their sleeves and find all kinds of different ways to help those victims. these students at the middle school were already hard at , backpacks with toiletries, toys, school supplies, and more still suffering. i

block these efforts claiming our nation can't afford it but a new report by the san francisco federal reserve bank shows republicans are lying according to the report each dollar of federal highway grants received by a state raises that state's annual economic output by at least two dollars that's because with more americans working and collecting a paycheck they can afford to spend money which stimulates the. economy they are the job creators after all the consumers plus have better roads and bridges companies can move their products around the nation at a lower cost more workers and businesses make more money more tax revenue comes into the government pays down our deficit this is econ one hundred one so the question is why are people still opposed to the government investing in our national infrastructure let's ask austin piers libertarian commentator and director of production of freedom or it's a go back thank you for having me glad to have you with us what is it about the difference between spending and investment that libertarians don't get well because nobody said that that investment that

everywhere president obama will be spreading the word that it doesn't fiscal austerity our federal reserve bank has has has initiated q e three which is basically an unlimited open ended. determination to spur economic growth with lower interest rates and buying backed securities whether mortgage backed securities wherever in the reviving or keeping the rates down on until our unemployment rate drops to around six percent well sounds great that's going to stop you i'm falling off the proverbial fiscal cliff is it into oblivion well that's very interesting there's not really a cliff it's more like a slope here just a term coined by one of the deficit hawks i would call them but really it's a slope we have to come to some sort of an agreement over the next year and a now it looks like with obama's reelection that we will come through because republicans now are saying they want to compromise in europe by sea the same thing the germans now have to have to believe in compromise if they don't believe in compromise portugal go the way of greece compromise means giving the european central bank more f

monitoring refinancing and fundings and we have an ability now with the continued -- easing by the federal reserve bank and others to be able to refund a lot of water water debt. in particular what is before you today is up to $250 million of refundings. this would save in and is projected to save about 43 million for the ratepayers. >> president torres: 43 million in savings to the ratepayers. make sure we articulate that. >> and help put that in perspective. it's almost half of what julie just talked about. so we are doing good things. so i want to just call out that our plan sale is in january. the first half will be for refunding, the second half for the new money for the projects you already approved over the last two and a half years. >> president torres: do we need a motion on this? >> you do need a motion on this, yes. >> so moved. all good news. >> president torres: seconded by commissioner caen. all in favor signify by saying aye. >> ayes. >> president torres: motion carries. well done, todd. >> a pleasure. >> president torres: keep up the good work. do you want to comment on this item? no. i

frankfurt has one thousand and thirty six tons or thirty one percent of germany's gold the federal reserve bank of new york has one thousand five hundred thirty six tons or forty five percent.

exactly see if you get excited it's a survey of the economic conditions in each of the twelve federal reserve banking districts it's also known as the summary of commentary on current economic conditions by the federal reserve district so i guess beige book is a little more concise now it's published eight times per year two weeks before each of the eight annual federal open market committee meetings now the report contains several sections and main summary of followed by the breakdown of the twelve federal districts now each district report will highlight the region's major industries so not all the reports mention the same sectors in the atlanta region for example there is a particular focus on tourism of course you have florida there where as the energy industry is highlighted somewhere like dallas and kansas city and that region you'll hear a lot about farming so staffers at each of the twelve regional banks all these banks you see here they compile the information after contacting businesses economists and other financial experts by phone through questionnaires and just plain old e-mail now the

next day their primary trend resumes of higher prices brought about by bank of england and a federal reserve bank and e.c.b. flooding the market with cash in a race to the bottom it's frogman straw in a paradigm a frog covered in the shiny glen ways of circle raiders and their own holy fraud said the whistleblower seth friedman he was one of the price reporters and he talks about the fact that basically the price reporters have to rely on the traders to tell them what the prices are and the traders were the ones that were lying he said price reporters struggled to set accurate benchmarks because they lacked detailed information about trading in the opaque so-called over the counter market and are dependent on what traders tell them about market activity we've talked about this price propaganda. trainers well manipulate prices to a level to get the index to trigger a response from regulators and other agents and players in the market to cash in on the fraud so this is a question of using algorithmic trading for example i've said before like lloyd blankfein you mentioned earlier he's really one of

pension accounts guided down to zero by the corrupt central banks the bank of england in the federal reserve bank there quacking for yield where we want you so in comes henry kravis and k.k. our packages all of his risk and all these private equity deals that were financed by junk bond takes all the risk put into new entity floats on the public exchange and johnny numskull here the professional consultant advisor for the finances of millions and billions of people and buying into that risk guaranteed capital last quick quick quick it happens time and time again it happens every three or four years like clockwork. so you did mention the three hundred year record high in u.k. government bonds well the u.k. is in this next headline here max u.k. public borrowing jumps in below for chancellor the chancellor george osborne was dealt a major blow as the last figures before is crucial autumn statement showed borrowing was far higher than expected in october so max the u.k. government borrowed eight point six billion pounds compared with economists forecast of just six billion pounds which is what they b