we got the federal reserve system of 1913.rve is so important and one major reason i got involved so long by is the and we severed all linkage of our money to gold, which meant the founders ideas were rejected. the founders understood something about a runaway dollar. they put in the constitution you cannot use anything other than gold and silver. in 1792 when they wrote the first coinage act, they said anyone who can counterfeit, they would get the death penalty, and that is how serious it was. there has been a lot of counterfeit thing going on lately. the one thing is we have a terrible situation now. if you as an individual american believe the old silver coins and gold coin is right and you use that money, you could be arrested and your money confiscated, and they could say you are a terrorist answer counterfeiting by using real money. what do we do with real counterfeiters the amount we leave them alone. if you are against the government you have to understand the monetary issue. the government rose for a number of reason

process and the intimate relationship that exists day by day between the central bank or the federal reserve system and wall street so i think the worst crony capitalism in america is in the financial system and its control over both the federal reserve and the congress and the white house and what you might call the washington count really are sounding like bernie sanders. you know you comment at this from different directions but it is not valid capitalism when you have firms that made huge mistakes in two zero eight and then get bailed out like a sore like goldman sachs or like morgan stanley or like the other financial institutions that got bailouts they should have paid the price and the idea that we were going to go into some new version of the great depression if we didn't do that i think is fundamentally wrong and it's one of the reasons why i'm writing this book because i want to refute that idea because that's why people have tolerated those bailouts and if we don't refute the idea now it's going to happen over and over over and. over again we didn't get that on the record more conversati

than three supreme court decisions the problem with the federal reserve is it merely because it operates under this name the federal reserve system is a very thin veneer of a law and that's all it is that the fed is actually part of the government and it's disguised designed to make people think that the government is actually controlling or watching over the big banks when in fact you and i know that there is a revolving revolving backdoor between the fed and the big banks the fed is a captive of the big banks the fed does not create any money with the exception of q.e. one into all of our money is created as an interest bearing debt we are literally and this is worldwide we are literally renting every dollar we have in circulation with the exception of coin money now this is a great deal if you can get it for back the. banks but it's a horrible deal money should serve the public interest i'm not interested in nationalizing banking but i am interested in nationalizing money we need a healthy competitive commercial banking establishment that does the lender the interest because if you don't charge interest because of the time val

start the engine of the western economy so far this is not yet happened after all what the federal reserve system is don't know we can see the situation is becoming worse as those measures have not been enough and one can expect the printing of money will resume. on the pessimistic global mood has been reflected in russia's last week's all markets suffer some of the worst losses this let's get more now of course over to our business desk where standing by for us karina so is it all really doing well a lot not actually you know alice russia markets bounced back after a sharp losses in early trading in last week the august twelfth sixteen percent and why is it lost twelve markets affected by news that european leaders have made some progress i'll agree the size of the bailout but not how it should be funded so the european is affecting russia as well but more coming up on the market promise coming up in our business bulletin shortly. ok looking forward to seeing you then this year bit later. all the latest coverage of the type of financial situation around the globe kind of course we found on our w

start the engine of the western economy so far this is not yet happened after all what the federal reserve system must on now we can see the situation has become worse as those measures have not been. and one can expect the printing of money will resume i repeat this model of economic development is not perfect and it's the emerging markets and china russia and even brazil as well as a number of other countries in the cold and currency reserves that lend money this on just part france will be changed it's this doctrine that led to the crisis as a matter of fact. while everyone else that russia's economy very much depended on oil prices you said speculate or prices will drop to sixty dollars a barrel in three to four years from now to be able call withstand such a down in oil prices it was true. we expected this fall will certainly cause a decrease in our economic growth down to nearly zero or below zero but in terms of the budget policy would be able to cope with this within a year after which we have to adjust the policy and reduce expenditure as a whole however we are ready to provide stability

start the engine of the western economy so far this is not yet happened after all what the federal reserve system is don't know we can see the situation is becoming worse as those measures have not been enough and one can expect the printing of money will resume of. the person mr global mood has been reflected in russia at least last last last week saw a market suffer some of the worst losses of the year yet for more on this let's go to outline. to our business desk corrina melican joins us so kareen it is it all doom and gloom well russian markets light again in the morning trading after suffering shop losses last week when the aussie s. fell a sixteen percent and my six twelve percent now they are trading make that the moment i just look at the figures but the downfall is partly due to news that the next equipment could be stepping down as prime minister also suffering also affecting the markets is news that european leaders have made some progress on the green size of the bailout but not how it should be fun that we'll have more for you and a business. so the i can see you in about ten minutes

start the engine of the western economy so far this is not yet happened after all what the federal reserve system is don't know we can see the situation is becoming worse because those measures have not been enough and one can expect the printing of money will resume. but all the latest coverage on the turbulent financial situation around the globe on our web site r t dot com here's what's also a click away for you right now watch the protests that are being dubbed the occupy wall street that have been a sea of lower manhattan a movement that has some calling them the u.s. equivalent of the arab spring box. a finnish pastor suspended by his church for speaking out against one of the world's most wanted terrorists find out about this and plenty more at r.t. dot com. going to be soon which will brighten a few songs from this. twenty years ago are just countries. to some to places. where did it take the. wealthy british style. market. opening to the global economy. or a no holds barred the global financial headlines. thanks for staying with us here on r t palestinian euphoria following their stateho

start the engine of the western economy so far this is not yet happened after all what the federal reserve system is don't know we can see the situation is becoming worse because those measures have not been announced and one can expect the frontiers of money will resume recover. about all the latest coverage on a turbulent financial situation around the globe on our web site r.t. dot com here's what's also a click away for you right now watch the protests that are being dubbed the occupy wall street that are going to see a lower manhattan a movement that is calling them the u.s. are prevalent of the arab spring plus. a finnish pastor suspended by his church risky to go out against one of the world's most wanted terrorists find out about this and probably more at archie dug up. the little beasts in which brighten. the palace song from the face. we. don't come. twenty years ago largest country in the suitcases of the. place how did. speak on the journey. where did it take the. wealthy british style. sometimes its. market. find out what's really happening to the global economy with a much stronger

start the engine of the western economy so far this is not yet to happen after all what the federal reserve system is don't know we can see the situation is becoming more just because those measures have not been enough and one can. resume. all the latest coverage of the turbulent financial situation around the globe can be found on our website our team dot com here's what else is a click away for you right now to watch the videos of protests and the occupy wall street. scene in lower manhattan a move that some are champney championing as the u.s. equivalent of an arab spring plus. a finnish pastor suspended by his church for speaking out against one of the world's most wanted terrorists read all about it. soon from funds to. screen stocks on t.v. . twenty years ago in the largest country. to serve two cases of. what had been trying. to teach began a journey. where did it take the. wealthy british style it's time to. market. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines two kinds of reports. with us here on ou

start the engine of the western economy so far this is not yet to happen after all what the federal reserve system must own you know we can see the situation has become worse because those measures are not in. joe montana i suspect the printing of money on a resume i repeat this model of economic development is not perfect and it's the emerging markets in china russia and even brazil as well as a number of other countries with gold currency reserves memory money advice on just part from should be changed it's this pattern that led to the crisis is as a matter of fact. well everyone knows that russia's economy is very much dependent on oil prices and you said good suspected or prices will drop to sixty dollars a barrel in kuwait for four years from now will russia be able to withstand such a downfall and well prices and i wish there was more truth than usual we expect this fall it will certainly cause a decrease in our economic growth down from nearly zero or below zero but in terms of a bunch of policy it would be able to cope with this within a year after which we have to adjust the policy and re

start the engine of the western economy so far this is not yet on the after all what the federal reserve system is don't know we can see the situation is becoming worse because those measures will not be enough and one cannot scrap the printing of money to resume. our latest coverage of the turbulent financial situation around the globe and if our website r t dot com here's what else is a click away for you right now watch the videos of protests about the occupy wall street that have been the scene in lower manhattan a move that some are champney championing as the u.s. approval end of an arab spring class. finish pastor suspended by his church for speaking out against one of the world's most wanted terrorists read all about it at r.t. dot com. which means soon which brightened if you move the song from scientists to christian is. these stunts on t.v. come. twenty years ago the largest country in the distances. was how did. you get the job. where did it take to. wealthy british style sun. times like this. market. why no one should really happening to the global economy with much stronger or a n

start the engine of the western economy so far this has not yet happened after all with the federal reserve system. now we can see the situation is becoming worse with those measures have not been enough and one can expect the printing of money will resume. the present mr global mood has been reflected in russia at least that last last week saw the market suffer some of the worst losses of the year yet for more on this let's go to our live to our business as a green melican joins us ok is it all gloom in the world well russian market slide again in the morning trading after suffering shock losses last week when they are well with their fingers than isaac's felt proud pressac now they are trading mixed at the moment i just look at the figures for the gulf war started you see news that alex they could and could be stepping down as prime minister also suffering also back in the markets is news that european leaders have made some progress on agreeing guys of the bailout but not how it should be fun that we'll have more for you and others a quarter. of the way they see what about ten minutes correct.

start the engine of the western economy so far this is not yet happened after all what the federal reserve system. now we can see the situation is becoming worse as those measures have not been announced and one can expect the printing of money will resume. all the latest coverage of the turbulent financial situation around the world can be found at our website r t v dot com here's what's also a click away. from dozens arrested as the protest of the occupy wall street in lower manhattan enter our second week police stepped up attacks during the demonstrations under control. the finnish pastor suspended by his church for speaking out against one of the world's most notorious terrorist find out about it at r.t. dot com. palestinian euphoria following their statehood bid at the u.n. is starting to fade as the security council prepares to discuss the case later today the palestinian authority gave the u.n. two weeks to decide on the issue after accusing the west. committing member states to bog the big down a bureaucracy the shadow of a u.s. veto also hangs over the proceedings obama vowed to prevent