more of a pointed response from let's say the central bankers the janet yellen is now the federal reserve bank not only does big going into this intermediate goldman sachs but it also does it to mediate the federal reserve bank of america are these bankers these big bankers are they going to push back against bitcoin do you see that happening we've got about thirty seconds they have allegedly j.p. morgan has created their own derivative a bit corny for calling but it's a centralized system as opposed to a decentralized system which because it needs peer to peer so j.p. morgan has a server that tries to do everything a pic or does of course they own the server the problem is the attempt at the patent and it's up to depends one hundred seventy five times one hundred fifty five of those times it was rejected. with prejudice in other words they couldn't come back from not mistaken the last twenty times that was rejected without prejudice which meant i think it can be filed but the problem is it should never be issued and it would be given a pattern because yeah it would appear running for these fo

dollar and the federal reserve bank just like p.d.p. file swapping destroyed the recording industry and they are i am the m p a a had to resort to suing their own customers or the case of aaron swartz counting a guy till he killed himself this will be their only recourse is to threaten jail long term prison for people who use bitcoin but the cat's out of the bag people are already on the crypto freight train and they're moving away from the dollar they're moving away from central banking and moving towards freedom. because bitcoin better. better because because because because because of all the fabulous things you do love anybody boo you're up to see the whizzer the wonderful wizard a bit going to toshi nakamoto created something that'll kill stupid central banks and all the people in europe like the e.c.b. in the back of i got a mark already girl. because. betterment now we mentioned at the top of the show that the f.b.i. holds all of these big coin wallets of the dread pirate roberts ross albrecht's and they're in the headline here f

the bank stress test that the federal reserve lead in the spring of 2009, which included detailed public disclosure of information regarding the solvency of the largest banks, are there but just confidence in the banking system. the success of the stress test disclosures, by the way, was another example of the benefits of transparency. the subsequent efforts to reform our regulatory framework focused on limiting the reemergence of the vulnerabilities that exacerbated the crisis. changes in bank capital regulations has significantly increased requirements for loss absorbing capital in global banking firms, including a surcharge for systemically important institutions. the federal reserve's comprehensive review, a descendent of the 2009 stress test requires that large financial institutions have sufficient capital to weather extreme financial shocks and then they demonstrate that their internal processes are effective. in addition, public disclosure facilitates market is one. the depositary framework also includes the liquidity requirements designed to mitigate excessive reminders from loc

along the way she served as president of the san francisco federal reserve bank.kets have rallied on the day she became the front runner, and when president obama officially nominated her. the process of unwinding the stimulus was set in motion under bernanke. but that still leaves yellen the forbidable task of continuing to phase out the fed's bond-buying program without derailing the economic recovery. patricia sabga, al jazeera, new york. >> she will take over when ben bernanke's second term expires. up next one of the top minds in the retail industry gives a glimpse of what is ahead. a copier. >>> lisa fletcher joins with what is coming up on "the stream." lisa, we hear about legalizing drugs, but it is usually different in different states. >> that's right. and tonight we're breaking it down asking if american's opinions are changing as much as advocates indicate. >> that's going to be interesting. don't miss "the stream" right after "real money." >>> the price of a bitcoin spiked above $1,000, as zinga announced it is going to accept the currency. so now you

he ran the biggest federal reserve bank. e thing as president of the federal reserve bank. you know markets. sandra: yesterday you reported larry fink is gunning for the position? >> he is too. from what i understand -- adam: under clinton administration should she be elected. >> there is lot of stuff going on with jack lew. there are clearly question marks about his ability to handle this job from people who are very close with tim geithner and deal with the treasury department and work in the treasury department. now that is clear. when you put that together with the sort of unexpected thing about el-erian, then the rumor mill starts. sometimes fun to talk about the rumors. adam: could be a bad year and it was really bad year. >> he had really bad -- i'm saying little connect the dots. sandra: it is an interesting move. >> i would say this, if jack lew stepped down in a year, nobody should be surprised. this is not a guy with a lot of qualifications. you are treasury secretary nd you have to deal with banks and global marke

confirmed the first woman to head the federal reserve. 67-year-old janet yellen is a former uc business professor and fornler president of the federal reserve bank of san francisco. she's replacing ben bernanke who is retiring the end of the month. >>> did you watch? the highest rated wielt card game in nfl history. more than 47 million viewers tuned in for the game. the star of the show, colin kaepernick. >> he was running like a gazelle. at times just looked like he was running and having fun and like he was the only one on the field. >> you notice he didn't even have the long sleeves. >> i know. i was so shocked. >> he was having fun. he ran, he passed, kaepernick had ice in his veins. 23-20 the niners beat the packers. here's what's next. sunday morning in carolina against the panthers. now, there's a chance there could be one final game at candlestick if the 49ers beat the panthers and the saints beat the seahawks, then the 49ers would host the saints in san francisco in two weeks. >> i can predict in two weeks, it will be warmer than what it was there yesterday. so cold. >> very strong prediction here. >> it was crazy. all the commentators

served as the head of the federal reserve for eight years and president obama has called him a voice of wisdom and a steady hand. janet yellen, the former head of the federal reserve bank in san francisco, also a uc-berkeley professor, takes the helm tomorrow, the first woman to lead the fed in its 100-year history. also new this morning, toyota has stopped sales of six best selling models. there is a problem with the heated seats. the japanese automaker says a component on the seats does not meet federal standards for flame retardant. affected model include the camry, hybrid, avalon, corolla subcompact, sienna minivan, tundra, trucks sold since august 2012. there have been no reports of injuries or fires and toyota is asking the ntsb not to require a recall of the vehicles that have already been sold. >> 4:45. a major shake up at microsoft. a new report out this morning says the company may name a new ceo and the chairman and founder bill gates could step aside. for more on the rest of the news before the bell, turn to morgan brennan at cnbc. >> good morning, scott futures are lower after stocks rebounded on thursday with the nasdaq and s&p 500 both recovering all of

it afloat with artificially low interest rates thanks to the corruption of janet yellen the federal reserve bank and central banks. around the world and accounting fraud not arthur andersen because they've already been put out of business but the big four that are left are too big for accounting firms are unable and jamie diamond off balance sheet and run like scandal now of course with enron famously when the audio clips were played on their phone conversations they were making fun of ripping off granny and california well the same thing here is not only did they use that same exact to j.p. morgan you said it same exact enron scandal and fraud but they say foreclosure fraud investor fraud cheating customers market manipulation library now the coup de gras to j.p. morgan's had a reputation a two billion dollar fine for closing its eyes and covering up as bernie made off literally built widows and orphans along with a lot of other families and charities now comparing this to the sink estates of course it's very difficult for old people old ladies to walk across the estate safely here it's difficu

the report by the federal reserve bank of new york shows women and men are not expecting the pay gap to end soon. women expect 19% less than men by age 30. for more stories that matter to your money, give me 60 seconds on the clock. it's money time. >> check out the curves. samsung unveiled the bendable tv in las vegas. the screen exchange shape to enhance viewing. game over for china's ban on gaming consoles. sony, nintendo and microsoft can tap a huge market, but they have to make them in china. the ban started in 2000. chinese officials worried about violent content and potential for moral decay. facebook says it cares about your privacy, but its ceo doesn't talk about it much. a college professor put more than 150 speeches and appearances by mark zuckerberg by a cloud. what did he say the most? people and things. the great liquid gold mystery. velveeta cheese disappearing from store shelves. kraft says it is not sure there is a shortage, but just in time for your super bowl party. >>> are you in the market for a home loan? mortgage rates held steady. the fixed dipped to 4.51%. th

say they have they don't have anywhere near the assets they say they have neither does the federal reserve bank that you see b. the bank of england they're insolvent as in bankrupt as a goose egg as in there's nothing there but belly button lint now regarding all of these lies on top of the cover of frauds people have been controlled their perception has been controlled and distorted into thinking that it is all about finance and because of that we do have this pixilated wealth where gold can evaporate and the wealth of a nation can evaporate and on this final headline here why central bankers are completely wrong about inflation and how one country is trying something new this is one guy's opinion on forex live and he's saying that they keep on targeting c.p.i. and the price of goods and yet not only are those prices rising because of all the quantitative easing he points out in zero percent interest rates and free money and less loans to the likes on wall street well we just are not rising there in fact declining they're down almost ten percent since the collapse began and nobody is doing tha

investment and why do they even bother with a five percent return on investment because the federal reserve bank keeps rates near zero the bank of england keeps rates near zero so let's flash forward to the ghost of christmas future here in the u.k. you've got the rates near zero you've got people with a lot of money thanks to artificially pumping it with money printing like chinese investors were looking to make five percent of their money because they can't get five percent of government bond like they would it less if the bank of england was artificially keeping rates low so they put money into a fracking rig and they signed bogus contracts that say yes we'll be doing the clean up they won't yes it's environmentally sound it isn't yes it's economically viable it's not and yes it will supply energy for x. number of years in the future that's a lie it's a pure twenty four to thirty six month scam to make five percent on money that was gifted to them from the corrupt marconi the bank of england to begin with and it will result in ecological holcroft who cares more debt to the u.k. economy hole s

the opportunity to vote for an extraordinarily well qualified woman to be the head of the federal reserve bank. i am. we are delighted with and the nineties departure from the fed was that the chapters being placed on one of the most extraordinary pair is the mama treat stimulus experimentation in the central bank's history daddy gallons talent will beat a path but he managed the rate on to more normal monetary policy with the addition of more than four trillion us dollars on the books that iran's his cctv washington. with the panel's report that we come to the end of the stuff they sell fifty three the news i was now for the latest o weather information. then it's time for travel on hand at the top of the next hour will be taking you to nairobi for today. ally. and in one hour from now. i'm trying to get to know what color to express that you can because it's a good job given that we're putting in a very special guest live in the progress that something can see. well the hoffa be used up by train that takes me out on the wood box. i wish you a happy new year. oh and your father the fourth see

won't be showing a bit going for the same reason you won't be selling any bonds over there the federal reserve bank you talk about tapering you talk about having a policy but you don't actually do anything this is the fed's equivalent of tapering we're going to turn good point position we're going to own one point position now it's like a.

be selling your bit going for the same reason you won't be selling any bonds over there the federal reserve bank you talk about tapering you.

slayer bitcoin is the johnny yellin of the federal reserve banks later and yes of course the pursuit of happiness will out and it will invade the faulty buggy back doors of yahoo and other internet giants to create coin mining operations to empower the people to resist big cooling that is the currency of resistance i've said this for years and it's so true now morris the mayor the c.e.o. of yahoo of course said recently that the reason why she allowed the n.s.a. to put all these back doors into their software was because this was a patriotic thing to do and you see her silence the company's refusal to say how this malware was even able to. exploit yahoo so yahoo has been criticized for not doing more to aid users infected by the faulty adverts dan farber of the technology site seen it says. that quote at this point yahoo hasn't addressed any of the details such as how the malware exploit got into its web pages how many users are impacted and what victims of the attacks to do the company may still be gathering data and you may still be bitcoin slaves now this is the whole thing that a

the bank stress test that the federal reserve lead in spring of 2009, which included the tale of publicisclosure of our largest banks furthers -- effects of the stress test closures was another example of the benefits of transparency. the subsequent efforts to reform our framework have been focused on limiting the reemergence that has precipitated and exacerbated a crisis. requirements -- including a surcharge for systemically important institutions and a ceiling on leverage. the federal reserve's comprehensive analysis and review -- the descendent of the 2009 stress test come up acquires large financial institutions maintain sufficient capital to weather extreme financial shocks and that they demonstrate that their internal planning processes are effective. addition, public disclosure facilitates market discipline. the framework also includes liquidity requirements designed to mitigate excessive reliance on global banks to short sale funding. underway tos are toughen the oversight of large institutions and to strengthen the financial infrastructure. of for example, by requiring greater

federal reserve. janet was the president of the san francisco federal reserve bank from 2004 to 2010.ould replace ben bernanke at the end of the month. >>> nancy pelosi is due to speak at san francisco column as that school fights to stay open. will allow the school to keep its accreditation until a trial can be held. this is due to financial mismanagement and they could force a school to close which would affect about 80,000 students. >> sanford medical school will be allowed to work on some tough to beat cancers. cancer stem cells are not killed off by most therapies and the new grant is coming from the ludwig fund to stem from the cancer research programs. >>> the california lottery is booming according to the l.a. times. the jack pots are blooming and bash booming and it is being pumped into local schools. the lottery wrote a check for $1.3 billion for california public education but that number has grown. >>> right now the warriors are the hottest team in the nba. >>> oh, my off the glass. .. >> warriors continue against the wizards, stefan curry put on a show and they went on to

federal reserve board when i was there. then she subsequently became president of san francisco federal reserve bank and when she wasn't at the board meeting she was at the federal market committee meetings. she is an extraordinarily good economists. she had found was very helpful to me because she was a professional academic and a very significant insights into where various different theories were coming up and the like in academia. i mean i obviously have had an awful lot of education and i did actually teach school for a while but i was essentially a private economist in my early years for a long period of time. there were a lot of theories that have been developed and they never had time to watch them which i never really followed very closely and i didn't quite understand them. i used to go to janet and asked her come explain this to me. she was terribly helpful. i can imagine it would be otherwise, but she is going to have a very tough set of problems and i think she knows it going forward. >> and what about the fact is she would be the first woman? is that important? >> i made a public statement that its extraordinary

bank of japan to lose its right to claim superior expertise. another example comes from the 1930's. i think the federal reserve thought it was taking actions that was consistent with the federal reserve act and yet their policies were failing miserably. i think in that situation it is only natural that central-bank independence comes to threat. accountability has to involve more than central banks providing information about what they are doing. point elected officials should take appropriate actions to fix the situation. if the biggest threat to fed independence is more policy, i end up exactly where donis, which is the biggest counter to that red is good policy. as don points out, if the fed or some other central bank does not take actions that it knows to be correct or thinks is correct, because it is afraid of how congress will react, that will be a disaster. i had exactly the same analogy that don has. the best defense against threats to independence is an offense in the form of good policy. finally let me end up and agree with the last point that don made, which is his concern about political partisanshi

emerging markets are under pressure, partly on the back of, you know, likely further tapering by federal reserve bank of united states, and we also had mittically motivated corruption investigations, which obviously had some negative impact, but if you look at turkey overall, we still have very strong fiscal position. we have healthy banking sector, so this is like a temporary let's say fragility rather than a permanent shock. >> but you do have a plunging lira and just a 4% growth rate when just a couple of years ago, it was 8%. i mean some economists suggest that this move by the central bank is not enough to stop this falling further. >> 4% growth may look low by turkish standards, but keep in mind, if you exclude china, 4% growth is at par with emerging markets average and is almost four times the expected growth in euro zone. as you know, we are a real conversion story and turkey has been narrowing the gap per captain at a with european union so 4% growth is a modest growth rate if you look at turkish recent history but is still more sustainable rate of growth. >> but it is not great and does co

the bank stress test that the federal reserve led in the spring of 2009 which included detailed public disclosure of information regarding the solvency of our largest banks further buttressed conferred in theback -- confidence in the banking system. the stress test was yet another way -- example of the benefits of transparency. the sub p subsequent efforts to reform our regulatory framework have been focused on limiting the reemergence of the vulnerabilities that exacerbated the crisis. changes in bank capital regulation under basel iii has significantly increased requirements for loss-absorbing banking firms including a surcharge for systemically-important be institutions and is a ceiling on leverage. the federal reserve's comprehensive capital analysis and review or ccar, a descendant of the 2009 stress test, requires that large financial institutions maintain sufficient capital to weather extreme financial shocks and that they demonstrate that their or internal planning processes are effective. in addition, public disclosure of the results facilitates market discipline. the basel ii