other bidders included britain and germany. japan's mint has produced coins in the past but this will be the first time to mint a foreign common currency. production is expected to start at the end of the year after contracts are signed with the bangladesh bank. production has been on the decline due to the rising popularity of electronic funds. that's all for me now. i'll leave you with the markets in asia. >>> israeli prime minister says his forces will not tolerate further attacks. an israeli tank has shelled a syrian armored vehicle in retaliation. syrian motors fell for a second day on golan heights. the takes may be a spillover from the syrian civil war. >> we'll take whatever action is necessary to put a stop to this. >> israeli soldiers sent out warning shots. israeli forces captured the golan heights from syrian in the 1960, six-day war. a truce has been in place since 1973. >>> iranian military commanders have launched their ever military drills. about 8,000 revolutionary guards and regular army troops are taking part. state

sort of brinkmanship the whole concept of defaulting just think about any other developed country germany japan and. any of these countries saying wow you know we're going to default on our debt because we can't come to a political agreement it's not that there's a solvency issue it's the fact that these people are playing brinkmanship and threatening to default that's just ridiculous ok a lot of things said there anthony you want to jump in there. yeah so the brinkmanship is certainly a problem in the the fact that it's we have a white house that sort of got stuck in a capacity to not really know how to negotiate and the republican congress was sort of split between people who wanted to do a deal like boehner and the tea party which were sort of holding him hostage the fact that we wound up in a political position like that is really irresponsible and it's saddening it's not the way that we should be governing that being said if we're going to have some kind of grand bargain it can't be a grand bargain just for the sake of having a bargain and and john boehner coming out yesterday and saying t

china, germany, japan, they all have car manufacturing.nk it should be smart, i think it should be sophisticated, i think it should be based on incentives and what the private sector wants. you can control that manufacturing. that's why ford is bringing manufacturing of the fusion back to the united states. it's why gm is bringing back some of its functions from india to michigan. it's why you've seen lenovo bring laptop manufacturing from china. american manufacturers have a great work force, as you've pointed out, will, we have great energy costs and we can successfully compete if we're playing that game, but we've got to play that game. >> hold on, will, because until i get the 90-minute version of this show where we can discuss where anybody in the world can supply manufacturing, and i know what you're thinking, that nobody should be doing it. i think we should do this again. will cain said something very uncharitable about my suit, by the way. >> when you're taking pictures of ali velshi, make sure you note this is not colonel sanders

about germany and japan. why do we need 53,000 troops in germany and 39,000 troops in japan? guest: we don't, they should be brought home. host: is their mission there now? guest: their mission is left over from the cold war. there were trips that were placed there to prevent a soviet attack on eastern europe. there is no more soviet union. there is no more cold war. we don't face the kind of threat. in japan, we are being told that they are there to prevent north korea from attacking. there is also about 30,000 troops in south korea. why do we need all those troops in japan? i think we will be hearing a lot about troops in japan because we will be hearing from president obama about the notion of a pivot toward asia. host: that was a big part of the priorities for the 21st century defense. exactly guest:, what we're not hearing about is a pivot toward better relations with asia which includes diplomacy at the top of the list. host: that includes the president's trip this week. >> guest: that was included i think there were problems because on the u.s. side, it is still based

is in turning those principles into practice we have some examples such as the occupation of germany and japan that went well you have stable successful liberal democracies but in the middle east it looks much more difficult in the interventions in libya and in afghanistan and iraq i think are are much more nuanced much more ambiguous and i agree with what john said and that is the u.s. is walking is walking very carefully here under under no illusions that to rush toward the ballot box in a place like bahrain or saudi arabia yeah it would imperil some core american interests so john if we go back to you you don't see the united states promoting voting in saudi arabia any time soon do you though the people in bahrain or deny that no of course not. that's right the people in bahrain are denied several democratic rights and the people in saudi arabia of course that's one of the most horrible autocratic regimes in the world and it's also one of our closest allies and that actually happens that's you that's you can see that right through what charles said you know it's true that it's democracy pro

about germany and japan. why do we need 53,000 troops in germany and 39,000 troops in japan? guest: we don't, they should be brought home. host: is their mission there now? guest: their mission is left over from the cold war. there were trips that were placed there to prevent a soviet attack on eastern europe. there is no more soviet union. there is no more cold war. we don't face the kind of threat. in japan, we are being told that they are there to prevent north korea from attacking. there is also about 30,000 troops in south korea. why do we need all those troops in japan? i think we will be hearing a lot about troops in japan because we will be hearing from president obama about the notion of a pivot toward asia. host: that was a big part of the priorities for the 21st century defense. exactly guest:, what we're not hearing about is a pivot toward better relations with asia which includes diplomacy at the top of the list. host: that includes the president's trip this week. >> guest: that was included i think there were problems because on the u.s. side, it is still based

. >> i think sweden and germany -- >> and japan. >> i would be careful about yearning too much for japan. sweden, denmark and germany are interesting. what they have done with the deal between labor and capital and the deal across society so the german reaction to the recession was instead of laying people off, people would effectively take a pay cut of 30%. it takes a lot of social unity to have that. having said that, i would say i think it is going to take more than going to be social democracies of northern europe because you are feeling these tensions in those northern european countries and you would be surprised the extent to which this discourse we are having you could have the same discussion in berlin and stockholm and particularly in berlin because what germans are realizing is they did not hollow out the german middle-class but the middle-class of the rest of europe. they are the china of the e.u.. that is one way to do it. the only other thing i might say which is kind of funny and a reaction i like in my book is a senior european goldman sachs guy who i do quote in my book

countries do have government provide the care and pay for it, but a lot of rich democracies, germany, switzerland, japan, belgium, the netherlands, cover everybody in the private system, private docs, private hospitals. germany, switzerland, they don't have medicare. people stay with the private insurer cradle to grave. >> the swiss were getting fed up with their private insurance system in the early 1990s. costs were rising, premiums were disproportionately higher for women and the elderly, and those with pre-existing conditions had trouble getting coverage. some were foregoing insurance altogether. >> the people were flying out of the insurance, so we had to stop this. >> dreyfuss, who would later become switzerland's first woman president, pushed for a law that required everyone to buy insurance, gave subsidies to the poor, and stopped insurance companies from rejecting people for their medical history. sound familiar? that's exactly what president obama's law would do. but in switzerland, it was an uphill battle. the law passed parliament, but barely squeaked by in a national referendum with 52% of

germany, japan, england. the united states used to do it.e used to have a transaction tax in the united states and our economy grew during those years. this is time to look at an idea like this. there is also a version of a flat tax. we need to really look at all aspects of how we get revenue in the system. this transaction tax is a good idea. host: let's go to richard on the independent line. caller: good morning. listen, i would like to say that in the first place, it wasn't at the 99% that brought the country down to its knees bending it was the 1%. as far as taxes, the rate is 35%. you cannot even find one that pays 35% because of the loopholes. they talk about $250,000. i believe the wage of a working family is somewhere around $40,000. in order to straighten everything out in this country, the first thing that has to be done is you have to ban lobbyists from bringing any money to congress. you can love your government, but when they bring billions of dollars a year to buy votes, how are you supposed to run the country when you can buy

talk about the next two, germany and japan, why we need 53,000 troops in germany and 39,000 troops stillin japan these days? >> guest: we don't. that's a simple answer. they should be brought home. >> host: what is their mission there right now? >> guest: their mission is left over from the cold war. these were troops that were placed there to prevent a soviet attack on eastern europe. there is no more tzipi at union and there is no more cold war. we don't face that kind of threat. in japan we are being told that they are there to prevent north korea from attacking. but there is also a think about 30,000 troops in south korea so why do we need all those troops in japan? right now i think we will be hearing a lot about troops in japan because we will hear from president obama about this notion of a pivot towards asia, which -- >> host: that was a big part of the document of hierarchies for the 21st century defense. >> guest: exactly. what we are not hearing about is a pivot towards better relations with asia which includes diplomacy at the top of the list. >> host: was that part of the pr

natural resources the territorial fallout has previously sparked mass protest in both china and japan. germany is trying hard to ditch its nuclear energy but the result is that electricity prices in the manufacturing powerhouse are getting shocking as peter all over reports the other sting is that the country is having to be decidedly on green to fuel its future. it was a resoundingly no to new clear from the german chancellor the animal abandoned nuclear power completely step by step until the end of twenty twenty two as a country within that we can become pioneers on the way to create an age of renewable energy the two thousand and eleven meltdown at the fukushima power plant in japan the worst atomic energy disaster since chernobyl is the key motivation for rushing through nuclear decommissioning is the security concerns are very strong this is the main factor in the decision to begin reduction of nuclear energy in germany atomic energy accounted for just under eighteen percent of german electricity in two thousand and eleven can renewable take up that slack government figures show that for

we are borrowing the money from china and germany and japan and other countries. >> that's why we needlaura. >> laura: we're not investing anything. we are borrowing the money and then we are having to pay it back with interest. when you say we -- >> -- that's why we need higher revenues. look what california just did. it raised taxes and voted for higher taxes. >> laura: businesses are fleeing california, david. they are leaving california en masse because of the taxes there. >> excuse me silicone valley is one of the strongest economic growth centers in america. hollywood one of the strongest. >> silicone valley and hollywood is not the entire state. silicone valley a lot of countries have moved to nevada and texas, including start up companies that can't start up. bigger companies have much easier time in california but california is in billions of collars of debt because of high taxes and regulations. >> laura, there is more millionaires in california than all the red states combined. this is jmpleghts money doesn't buy you brains. it buys you nice houses in brethrenwood. >> higher

agency officials say last year's accident at japan's fukushima daiichi power plant is a factor for germany and switzerland's reducing independence on atomic energy. they also expect power generation from renewable sources like wind and solar to increase to about one-third of the world's total out put by 2035. >>> countries that catch blue fin tuna are trying to determine how much is too much. they're meeting in morocco to set quotas for this endangered fish. japanese consume 80% of the global catch. they eve watched stocks bounce back. they're wondering if it's time to cast their nets wider again. nhk world's virginie pinon reports. >> reporter: this is the main fishing port in the country where tuna is exported to japan. it's here that the future of the tuna stock will be decided. >> the road to start recovery is a long and art ous one. if we keep on the right track, we can meet our goals. >> reporter: the big question for the international commission for the conservation of atlantic tuna or iccat is whether blue fin fishing quotas should be expanded. there are fears that stocks of the fi

director of the union once walter became president so my grandfather spent time in india and japan and germany and so you know he i did grew up around these stories i didn't really make the connection that they were so instrumental in the fabric of the middle class and america in general but i was fascinated you know i did early age by just the storytelling the thing the impressed me is is how few people know these stories. i just most of my life just assumed everybody knew this having gone to elementary school in lansing michigan and in the in the late fifty's we actually took a labor class there was actually a class the history of organized labor in like porth great i mean we knew the story we they had news reels and things that i'm assuming the u.a.w. probably provided to the schools at no charge but i remember watching you know the great flint sit down strike itself we knew of we knew the time line of things and it seems that with the reagan revolution and bill bennett taking over their part of education and just this whole change in america's attitude toward organized labor at least much

germany the dax is up. overnight in positive a positive close in japan. been mentioning have been affected by what's happening in the middle east. you can see they're up by 1.25%. wti is up to $88. the ten-year note, this has been a huge one that we've been watching closely, the ten-year note prices have been increasing, yield friday closed at 1.5%, this morning 1.608% but all this talk about the fiscal cliff has enough investors worried you have seen yield prices pushed rapidly lower over the last week and a half. the dollar is down across the board, euro trading 1.276 and gold prices are the things to watch, up again this morning, up $8.90 to $1,723.60 an ounce. >>> another top story, the looming fiscal cliff, our guest host is one of america's greatest entrepreneurs, steve case, founder and chairman of the startup america partnership, best known as co-founder and chairman of america online, a member of the president's jobs and competitiveness council and the greatest merger of all-time, i think, andrew, aol and time warner, for mr. case, so i sort of d

germany. >> i will lead be careful about yearning for japan. speeded and denmark and germany with what they have done between labor and capital and society with the ledger reaction instead of laying people off everybody takes a pay cut. it takes social unity that have that but it will take more than going to the social democracy of northern europe because you also appeal the tensions in those countries you would be surprised about this whole discourse you could have the same discussion in berlin and stockholm particularly in berlin because the germans realized they hollowed the middle-class of the rest of europe. they are the tide of the you. the only other things that i may say is one senior european goldman sachs man who is in my book send me e-mail i opened it with trepidation. i thought oh my god. paraphrasing he said i have read your book. terrifying. i think i will have to move to sweden. even the goldman sachs wrap says the swedish model is the only one that works. [laughter] >> i don't know how to phrase the question bet did you see any

they are deployed in afghanistan or they could be in south korea or in japan, or germany or a varietyplaces, precking our nation, at this moment. >> yeah, that's right. one of the sad points, i would like to remark on steve's presentation, i have the names of 12 of my soldiers, my unit in vietnam on the wall that. wall means a great deal to me. and to your point, it means a great deal to the young men and women who are serving now, a generation before me, still in harm's way and living in terrible circumstances and some very dangerous places of the world, like afghanistan, who themselves are taking a moment today to reflect on their service. so this is a very, very... a very emotional day for me and for all of those in my generation and today's generation who have served. >> eric: do you think, general, we have lost that or it's become stronger recently? i remember the p.o.w. bracements in the vietnam bar and especially poignant this morning, we find out another nato soldier's been killed in afghanistan, shot dead by another guy in an army afghan uniform t. goes on and on, as we see t

japan and germany have more in common than whereas brazil and russia. a broadly coerce identified e mernling markets portfolio belongs in the tool kit of the investors. >> josh, do you have a question? >> rob, i'm a fan of your work. >> thank you. >> my question would be you're talk about being net short u.s. equities. i know your benchmark as opposed to other money managers is not a traditional stock or bond measurement but inflation plus points to the upside. you are concerned with purchasing power. >> you bet. >> if that's the case are you looking for deflationary environment going forward? >> no. actually not. we are looking at an inflationary environment. >> how far into the future? >> the net short is largely a way of hedging out the equity market sensitivity of other investments. you can take some of the stock market risk out. >> can you clarify if the u.s. market is going up or down? >> short term it's fine. this is a safe haven. there will be flights to safety. long term, the dollar is toast. >> all right. bob, good do see you. we appreciate it

>> well, ultimately what we're doing is what we did with germany, what we did with japan, trying to convinces a better way to do this and that it is in their financial interests not to be conducting this trade with iran. melissa: so only way we would do that is giving them money or subsidizing natural gas for turkey coming from somewhere else. >> not at all. melissa: go ahead. >> what we're trying to do is apply coercion. we're trying to sanction and make illegal the trade and if we do that, turkey can choose between doing business with iran and doing business with the rest of the world rather than acting like a predator and trying to take advantage when all the other countries pull back from iran. melissa: yeah. >> remember, should there be a military conflict with iran the effect on the turkish economy will be far more deleterious than taking united front now. melissa: that is a great point. michael, thanks so much for coming on. >> thank you. melissa: next on "money", forget music, it is all money to artists ears. forbes reveals the highest paid musician in the world. you will be surprise

germany grew 22%. japan 16%. more hours of work per working age adult in the united states than germany and france have. this idea that -- >> because we -- >> lower taxes on investors pumps up growth in the economy. it's hard to look the data in the face and come to that conclusion. the shocking difference between the u.s. and europe, it's stimulus spending and government spending and investment. europe would be kicking aur butts and greece would be the poster child of success. it's an unmitigated disaster. >> europe is not just one thing. it's norway and greece. >> yes. >> norway is doing well. amsterdam is doing well. >> you say germany is doing well. it grew 22%. it's barely come out of the recession. we are way ahead. >> the european example is a false example. it's a red herring. not that you are using it. i believe your views are an corresponded in philosophy. politically it's used to say we within the return to socialistic policies. the actual comparison should be the clinton economy versus the bush econom

the fascist rise in italy, then germany and the samurai totalitarian culture japan were assassinationawaited anyone who questioned its destiny of all of asia and the remaining democracies lack of will to stop the weekend. when mussolini successfully crushed ethiopia and none of the league of nations opposed him, the entire notion collected security was already dad in this of course was long before hitler and voided -- invaded poland. world war ii let me only briefly say that would save the world in our view was that the progressive liberal new deal government of government of franklin d. roosevelt most likely out of sheer desperation unleash the productive power of free-market capitalism to bury the axis powers in the tsunami of tanks, planes and ships. anyone who is read my book knows that the statistics are not far from where i teach, tank was built from scratch in four and a half hours. henry kaiser shipyard churned out a liberty ship in a record four and a half days. that is faster than most of my students can write one of their semester papers. this undergirded american military

its fascists roads to power in i -- rose to power in italy, then germany, then a samurai culture in japan where assassination awaited anyone who questioned the destiny of japan to rule all of asia. the remaining democracies in europe lacked the will to stop even the weakest of aggressors. when mussolini success any crushed ethiopia, the entire notion of collective security was already dead. and this, of course, was long before hitler invaded poland. world war ii, let me only briefly say that what saved the world, in our view, was that the progressive/liberal new deal government of franklin d. roosevelt most likely out of sheer desperation unleashed the productive power of free market capitalism to bury the axis powers in a tsunami of tanks, planes and ships. anyone who's read my books knows the statistics. up in lima, not far from where i teach, a tank was built from scratch in four and a half hours. henry kaiser's shipyards turned out a liberty ship in a record four and a half days. that's faster than most of my students can write one of their semester papers. this undergirded american m

as the rest of power in italy, then germany, then the samurai culture in japan, where assassination awaitedanyone to all of asia, the remaining democracies in europe but it was just not even the weakest of aggressors. when miscellanies successfully crushed ethiopia and none of the leak of nationstates opposed him , and the entire nation was already dead and this of course is long before hitler invaded poland. but bailey replaced faith that would save the world in our view is that the progressive liberal new deal government at franklin d. roosevelt most likely out of sheer desperation unleash the productive power of free-market capitalism to bury the powers in a tsunami of tanks, planes and ships. anyone who's read my my books know the statistics are lined up just not far from where i teach, a tank was built from scratch in four and a half hours. henry kaiser shipyard turned out a liberty ship in a record four and a half days. that is faster than most students can write one of their semester papers. this american military strategy of using weapons and technology to thoroughly pummeled the en

germany. ♪ a powerful, fuel-efficient engine, but it's not from japan. ♪ it's a car like no other...m a place like nother. introducing the all-w 2013hevrolet malibu, our greatest malibu ever. ♪ at meineke i have options... like oil changes starting at $19.95. my money. my choice. my meineke. >>> that was the scene in gaza city earlier today before the cease-fire was announced. also today, a bus bombing in tell aviv wounded more than 20 people. at least two bombs maplanted on the bus. only one detonated it happened near the security headquarters in tell aviv. we had an exclusive interview with the leader of hamas in cairo and asked him about the attack. >> i'm asking you, did hamas claim responsibility? did hamas do that? >> translator: not hamas, not other people, not hamas. no one can announce except those who commit it, not me. the building lesson is what matters. who committed the circumstances that led to this operation. it is netanyahu with his crimes in killing the kids of gaza. and he creates such ramifications everywhere. this could lead to any kind of reaction as retaliation

germany. ♪ a powerful, fuel-efficient engine, but it's not from japan. ♪ it's a car like no other...m a place like nother. introducing the all-w 2013hevrolet malibu, our greatest malibu ever. ♪ >>> we're back to the middle east now. as we mentioned an almost two-day-old ceasefire between israel and hamas appears to be holding but barely. the group says a young palestinian was shot to death today. 19 other wounded by israeli forces in a buffer zone. israel is not confirming casualties but says palestinian rioters were trying to breach the border. this much we know. eight days of conflict divided the sides more than they were. but in certain amazing ways it also brought them together. sarah sidner found proof in a tel aviv hospital. >> reporter: joseph ask listening to a bedtime story in the hospital. a victim of an age-old conflict that has shattered his family life. he and his parents were staying inside this apartment building in southern israel when a rocket from gaza slammed into it. the blast sheered off several of his fingers. and took his mother's life. she was among the first