tens of millions of dollars stolen from bangladesh's central bank via the federal reserve bank of new york and then laundered in the philippines the money and the thieves then vendor. and steve on this episode a one on one east we investigate one of the biggest bank robberies a modern times and ask how the cyber hackers got away with it. to cover the. i'm a. product of a not really. jack up the capital of bangladesh. but teeming chaotic city and one of the world's poorest. seventy million people live here a set of them surviving on less than two dollars a day. bangladesh has one of the world's fastest growing economies. it's a country on the up but one that could ill afford to lose more than eighty million dollars of taxpayers' money. bangladesh bank the country's central bank is it the heart of its economic system. it overlooks a. around about inductors financial district. high walls and tight security to stop anyone getting in who shouldn't be there but sometimes physical barriers aren't enough for this heist nobody broke in and nobody took anything away in crime was perpetrated ele

when she took a job at the federal reserve bank of new york she believed she would be monitoring the bank's behavior to avoid another financial crisis but instead she encountered a federal reserve holding banks accountable and began secretly recording her meetings that became the basis of the this american life episode. she chronicles her experience exposing the relationship between the big banks and government bodies set up to regulate them. william co. and author of moneyy and power held goldman tax came to rule the world rights in noncompliant whistleblower detonates a metaphorical explosive device inside of the previous impenetrable limestone faÇade of the federal reserve bank of new york. in a gripping and highly personal narrative, she reveals the depths of the shameful regularity that exists between the new york fed and wall street bank that is meant to supervise and the high-priced she paid for doing the right thing. please join me in welcoming carmen. [applause] >> i'm going to rearrange this a little bit because this isn't going to work for me. it's too high. >> like this or

tens of millions of dollars stolen from bangladesh's central bank via the federal reserve bank of new york and been laundered into two of. the money and the thieves then vent. and steve on this episode a one on one east we investigate one of the biggest bank robberies a modern times and ask how the cyber hackers got away with it. well to cover the. helicopter not only. jacka the capital of bangladesh. but teeming chaotic city and one of the world's poorest. seventy million people live here a set of them surviving on less than two dollars a day. bangladesh has one of the world's fastest growing economies. it's a country on the up but one that could ill afford to lose more than eighty million dollars of taxpayers' money. bangladesh bank the country's central bank is at the heart of its economic system. it overlooks a busy roundabout inductors financial district. high walls and tight security to stop anyone getting in who shouldn't be there but sometimes physical barriers enough for this heist nobody broke in and nobody took anything away in crime was perpetrated electronically. on the e

oregon they're saying ok let's really raise rents by inflation plus seven percent but then the federal reserve bank will say you know what there is no inflation in the economy we have to lower rates because we need to stimulate demand because there's no inflation so which is it is there no inflation or you're going to have rent control with inflation plus seven percent. well the fact is that if you were to add stuff like housing to your c.p.i. inflation is running at five six seven eight percent in the united states of america interest rates according to the federal reserve to be at five percent today anything less is a giveaway from the pensioners who have money on deposit trying to earn interest to the kleptocrats on wall street and that's the last twenty years and that's what you palace continuing because he's not going to taper the ponzi scheme he's in the pocket the bankers it's the powell put just like the greenspan put the yellen put the bernanke you put of course if interest rates were higher at the federal reserve bank property prices would not be increasing at twenty thirty percent a year

federal reserve will hit pause on rate hikes. this week, michael mckee sat down exclusively with regional federal reserve bank presidents to get perspectivepolicymakers are taking current conditions into account. let's start with his conversation with the head of the dallas fed, robert kaplan. ♪ >> there's only one question that matters to the market. has the correction been long enough, deep enough, severe enough, that the fed has to react? >> let me answer it this way. there are three big issues that i see reflecting in the market that are consistent with what i'm seeing in the economy. decelerating,is interest sensitive and economically sensitive injury industries are showing weakness, and credit spreads have widened. those issues are affecting the market and also my thinking about monetary policy. it is going to take some time to of the depths and breadth those three issues. >> you think the fed should go on hold for now? >> my own view is that we should not take any further action on interest rates until these issues are resolved, for better or for worse. i would be an advocate of taking no action, for example, in the first couple qu

federal reserve will hit pause on rate hikes. this week, bloomberg's michael mckee sat down exclusively with two regional federal reserve bank presidentst perspective on how policymakers are taking current conditions into account. let's start with his conversation on thursday with the head of the dallas fed, robert kaplan. >> there's only one question that matters to the market. has the correction been long enough, deep enough, severe enough, that the fed has to react? >> well, let me answer it this way. there's three big issues that i see reflecting in the market that are consistent with what i'm seeing in the economy with the discussion, in context. global growth is decelerating, interest sensitive and economically sensitive industries are showing weakness, and financial conditions have tightened, and credit spreads have widened. and i think those three issues are, i'm sure, affecting the markets, but they are also affecting my thinking about monetary policy. it is going to take some time to see the depth and breadth of those three issues. >> so do you think the fed should go on hold for now? is we should not take any further action

given all the speculation about the health of the us economy, many expect the us federal reserve, america's central banke a break from federal reserve, america's central bank, to take a breakfrom hiking rates. this was reflect that in the bond market. demand for government paper retweet pushed the yield on the two year us treasury note below 2.496. the two year us treasury note below 2.4%. that is a big deal because it reached parity with the federal funds, that is the federal reserve's key policy rate, for the first time since 2008. the market is effectively saying that it believes the fed is not only going to have to stop raising rates, it might even have to cut them. that was michelle flory. —— fleury. in the last couple of hours there has been some positive news for investors. china has confirmed that talks will resume with the us next week, aimed at ending the trade war between the two sides. rico hizon is following the story in singapore. i have a sense of deja vu here. we have been here before. is anything going to come of it? this mightjust be the happy new year's news that we are all waiting fo

a quick programming note, coming up later, charles evans, federal reserve bank of chicago president atour clock p.m. new york, 10:00 p.m. in london. this is bloomberg. ♪ u.s.-china relations are back in the news. a new report suggests prosecutors in washington may be close to bringing a new indictment against huawei. this time for allegedly stealing technology secrets from u.s. companies, this after earlier claims it violated sanctions against iran and engaged in espionage. for the latest, let's ring bloomberg intelligence reporter. thank you for being here. it is a complicated story. i want to start with this means that prosecutors are looking at a fresh charge because canadians are aware that there's already a suggestion of breaking iran sanctions. inhave attained the cfo response to u.s. extradition request. this will be a different charge. >> does. thank you for having me. it is a fresh charge. it investigating a charge based on the t-mobile case from last year. from 2017. it seems as if they are trying to further investigate whether if there was some sort of ip theft that was invo

federal regulators began looking into wells fargo's policy of effectively coercing sales associates into opening new customer bank accounts without authorization moving into twenty nineteen wells fargo remains under rare sanction from the us federal reserve imposed in february that prevents the bank from increasing its total assets until was wells fargo is able to convince the fed that it has sufficiently addressed the problematic policies and practices. meanwhile the hong kong ma. terry authorities. meanwhile the hong kong monetary authority or h k m a has announced a fine roughly equivalent to one point six million u.s. dollars against j.p. morgan chase for failures of due diligence and preventing money laundering and financing of terrorism in a statement to h k m a credit said the hong kong branch of the global mega bank with having taken action when notified of the lapses however the authority also stipulated that j.p. morgan hong kong must appoint an independent advisor to ensure that the problems i notified by h k m a are fully resolved. revelations about facebook user data be shared with firms like cambridge and a little earlier this year people all around the world were in an uproar facebook c.e.o. mark zuckerberg testified befor

>> we are here with eric, the president of the boston federal reserve bank.hank you very much for joining us. i've got to start with jay powell, the -- friday he said with inflation pressures muted you can afford to be patient. you used the same word, patience, today. what does that translate to in terms of how long you would want to wait and you also said you want clarity on what's happening what is clarity to you? >> so we also have said data-dependent. i would add that to the list of buzzwords. by that, we're trying to get to the point where we're very consistent with our dual mandate. at a time when forecasts are telling us that more than likely we're not going to have a bad outcome, in fact we're probably going to have a reasonably good outcome in terms of the unemployment rate drifting down, real g.d.p. being relatively strong. at the same time the financial tai ta has come in much, much weaker. when we have these two differences, i think we need to get a little more understanding of why they're so different and my guess is that over time we're going to

> reporter: 35 vaults that once secured billions of dollars cover two floors of the former federal reserve bankr. each floor is longer than a football field. >> no two are the same size, shape, or configuration. we had to fit ourselves into a pre-existing structure. >> reporter: the vaults now house film reel canisters and memorabilia on more than 90 miles of shelving in climate-controlled conditions. >> 50 degrees fahrenheit, 30% relative humidity. you want to be cooler and drier for audiovisual media in general. >> reporter: the master film vault is kept even colder, at 35 degrees, to preserve a collection of negatives given to the center by the major hollywood film studios. >> gigi, best picture, 1958. gone with the wind. 1939. oscar winner for best picture. poregy and bess, a very rarely seen film. >> reporter: the rarest and oldest locked behind a set of double doors leading to another wing of vaults. >> they all look somewhat like this. >> reporter: these 124 vaults store just 1% of the center's collection. fire code requires these highly flammable nitrate films be stored to strict standa

where the money where the money comes from pretty freely so you're anti federal reserve bank. you're trying you want more money printed for yourself you want some of the printed money to use it since it is your main are you committing sins are you actively engaging in some not yet your you might feel you know yeah quick question this is finally here begun in america just to feel safe here. not just the same feeling of. sure yeah. we're going to answer and cities around the nine hundred eighty late seventy's early eighty's when i am. minbar i got the moon man as the thing. well. enough and i told them i got the legs for a lot of women would kill for legs like mine. i've been saying the numbers mean something they matter the us is over one trillion dollars in debt more than ten white collar crime tempi each day. eighty five percent of global wealth you want to be ultra rich eight point six percent market saw thirty percent rise last year some with four hundred to five hundred trees per second per second and bitcoin rose to twenty thousand dollars. china is building a two point o

there's too much money where the money where the money comes from pretty freely so your anti federal reserve bank. your you want more money printed for yourself you want some of the printed money to use it since it is you mean are you committing sins are you actively engaging in some night night yet you hope that you might feel you know yeah quick question this is finally here begun in america just to feel safe here. not just to say yeah i feel like a bubble. sure yes. place to go to church anything other than a few days late seventy's or early lesbian bar i got to lose the thing. it ups and all that i got the legs for a lot of women would kill for legs like but. in the united states we proactively require brominated flame retardants to be ploy interfere in a church and marketing among other things and that's resulted in extremely higher levels all those flame retardants in the human bodies of americans as opposed to europeans and that ultimately has affected the cognitive outcomes of literally a generation of american children. u.s. veterans who come back from war often told those same stories.

too much money where the money where the money comes from the premium railing so your anti federal reserve bank. your trauma you want more money for the for yourself you want some of the printed money to use it since it is your main recommitting sensory morning actively engaging in some night night yet you know you might feel you know yeah quick question this to violence here begun in america just to feel safe here we've got this case not just fills a gap the feeling of a bubble there you might be sure to get. to. be a go go dancer in your own cities or in the nineteen eighties like seventies or early me when i am lesbian bar i got the moves man is the thing. well. enough and like all that i got the legs for a lot of women would kill for legs like mine. where you know your son. is going. to loom your muscle will both be in yours and yours was never would you be doing nothing. please don't please the ways but i did my best religion as the white. people. use them yes this is. one of those. views will get. you know it's a movie. from. others financial survival guide i don't find any i prize on a t

there's too much money where the money where the money comes from pretty freely so you're anti federal reserve bank. you're a pro mint you want more money printed for yourself you want some of the printed money to use it since it is you mean are you committing sins are you actively engaging in some not yet. you might feel you know yeah quick question this is finally here. in america just to feel safe here. not just to say feeling of. security get. rid of the entrance and cities around the nine hundred eighty like seventy's or early lesbian bar i got to lose man that's the thing. well. enough and i told them to cut the legs for a lot of women would kill for legs like my. make this manufacture to sentence to the public will. when the ruling class is one protect themselves. when the final larry go round listen to the one percent. to ignore middle of the room six. million real needs. to. be settled in the past couple of years from track and. peace islands off day but the reality is there may still be a shift in a scavenge in this fine layer of micro plastics. very. the biggest thing and shut down we've

if you want to increase your wealth, get married.the federal reserve bank of st.m 1989 to 2016, the typical married household among 25 to 34 year olds had about three times as much wealth as a single household or unmarried couples living together.home ownership is one reason.live from the nadsaq marketsite, i'm jane king back to you ( darya ) thanks jane ( james ) coming up tom brokaw is under fire for comments he made over the weekend. we'll hear what he said ( james ) and after the break... driverless "air taxis" are closer to becoming a reality. and here's a live look outside... bay bridge a nice start to the new week as temperatures today peak well up into the 60's across the bay. skies won't be quite as clear as they were yesterday with an isolated shower possible along the coast. temperatures will stay warm in the days to come with showers around the corner later in the week. (robin) no major hot spots. bay bridge wb 80 is less then 30 min from the maze to sf. san mateo bridge less then 30 min from 880 to 101. golden gat bridge drive time less than 30 min fr

there's too much money where the money where the money comes from pretty freely so you're anti federal reserve bank now you're trying you want more money for the for yourself you want some of the friends of mine to use it since it is you mean are you committing sins are you are you actively engaging in some night night yet you know you might feel you know yeah quick question this is just finally here begun in america just to feel safe here. not just to say yeah i feel like a bubble. sure you get. to. be a go go dancer in your own cities or in the nineteen eighties like seventy's early eighty's when i am lesbian bar i got to lose man that's the thing. well. enough and like all that i got the legs for a lot of women would kill for legs like mine. join me every thursday on the alex salmond show and i'll be speaking to guests of the world the follow. fix small business i'm show business i'll see that. reflect there's someone else living inside of me or controlling my body. the byproduct of that drug is the cause like severe depression. because it literally made him into a zombie it's crazy. you know we

tens of millions of dollars stolen from bangladeshi central bank via the federal reserve bank of new york and them laundered in the philippines. the money and the thieves then vanished. i'm steve on this episode a one on one east we investigate one of the biggest bank robberies a modern times and ask how the cyber hackers got away with it.

for the people you know the new york fed and the federal reserve bank of america will only they only they love and care about their good friends and their good friends work at the big banks and they're going to continue with the same policy because they don't care as much about some guy in nebraska or some guy in nevada they only care about their friend in new york and that's natural and they're only going to give the money to them and so the can tell in effect will continue and global insurrection about against banker occupation giago will continue and could get worse if what we saw in france and spain and all these sort of countries is anything to go by right these disparate. you know uprisings and riots if they start communicating with each other during the problems in greece remember this was a period of occupy wall street and i made the observation that the occupy wall street people should go to athens and join forces with the greek people and their uprising against the neo liberals were destroying the greek economy but people don't understand the globalized nature of all this b

receiving control of certain property in the accounts of the government of venezuela held by the federal reserve bank of new york now the reason the united states says it's taking this action is in order to safeguard those assets for the benefit of the venezuelan people this certainly building on those sanctions that were announced on monday in the midst of all of this the united states continuing to say that it is not ruling out some sort of military intervention with regard to the ongoing instability in venice way last directly about this on monday the national security advisor would only say that in the eyes of the united states all options are still on the table however there was a lot of interest in a legal yellow no pad that bolton was holding and the words scrawled on it were five thousand troops colombia well colombia does share a border with venezuela and this would certainly be a market escalation of u.s. military involvement if the united states were to position troops along that border let's move to some other news findings again flared in cities across yemen putting a six week old u.n. b

among those assets are funds owned by the venezuelan central bank but physically held in the federal reserve bank of new york yesterday trump administration officials announced sanctions against both wales state energy company p.t. via say blocking access to about seven billion dollars in assets in the us dropped national security advisor john bolton told fox news quote we're in conversation with major companies now in the us that would make a difference if we could have american companies produce the oil in venezuela it would be good for venezuela and the people of the united states follow the money or in this case the oil money i suppose and here to catch us up on the history of that coveted oil supply is our own supply a tab and your syre thanks by and large as you mentioned us government officials this week announced sanctions on venezuela's state on oil company known as p t v s a now raising the risk of destruction to oil supply from venezuela well that as well has the world's largest proven oil reserves followed by saudi arabia canada iran and iraq but now if you look at the top of world oi

television and a radio audience to a special conversation with charles evans, president of the federal reserve bankf chicago. we are in the lobby of the building. thank you for having us. >> francine: thank you for coming. >> it has not started to snow. >> it has been a mild winter. not a mild time for you. >> what has been resonating with that you were now .t the december 18-19 meeting i assume you were on board with the december hike. said, weks later, you juneait as long as until to make any more decisions about rate hikes. from december 18-19 to last week, what changed? why this shift for you and other colleagues? >> that is not hard to explain. the economy is doing well. we saw strength in the december employment report, 312,000 jobs created. 2018 afterhinking the rate increase in december was 75 basis points from being at a setting that is a letter bit restrictive. almost neutral. that with myetting outlook for a good economy, i would say, we could sit at that into we see the economy decelerate to trend inflation, hang around 2%. the unemployment rate continues to be good. timing is not a big

tens of millions of dollars stolen from bangladeshi central bank via the federal reserve bank of new york and then laundered in the philippines the money and the thieves then vent. on steve on this episode a one on one east we investigate one of the biggest.

federal reserve chairman jerome powell, this week senate officials continued to stress the need for patience when it comes to the path of rate hikes in 2019. perspective from the chicago federal reserve banksident. >> the economy is doing well. we saw a lot of strength in the december employment report, 312,000 jobs created. you are right, i went in thinking that 2018 -- we are points from being at a setting that is just a little bit restrictive. it is almost neutral, but just a little bit restrictive. that is the setting that, with my outlook for a good economy, i could say we could set that rate for quite some time until we see the economy decelerate to trend, inflation hanging around 2%, the unemployment rate still continuing to the good. timing is not a big deal, because even if we were to increase rates in june, you have in september. i do not have any increases slated for 2020. with all the uncertainty with some other things going on, europe softening a bit, i think we are actually well positioned to sort of assess how the data are coming in, whether or not our business contacts see things proceeding and little differently than the national data, and we can respond appropriately. we

james: the federal reserve bank of new york is kind of the -- it's the headquarters of the true financial arm of the fed. washington is the administrative center. ashington is where the great -- governors -- the federal reserve open market will meet policy. to determine they will sit around the big table and noodle over interest rates. that's one form of money. if you want gold it's in new york. that's one form of money. some of it is in fort knox. the farm gold is in new york. brian: do we know how much that is worth? james: i do not. brian: it used to be, what, $35 to the ounce or something like that? james: right. it's closer to $1,200 or something to the ounce today as we sit here. it is worth a lot of money easy said fast. that's the material kind. but far more consequential to the world these things is the immaterial kind. these are the digital entries into the federal reserve books. they are weightless. as i say, they cost nothing to produce, and they are really the substantial dollars in the world. we also have paper money, of 10's , $100 and the 50's, and most of it circulates ou