mean well that's a good question because what does it mean in a promise to pay you the gallery ten ious i mean that's what this is and the british are very proud and great here so. that this is the money that this money is we've created this money and whoever has the money within the system will be able to pay ten pounds whatever that's going to be mean but from the british government's perspective basically because if you have a currency issue what they're saying is that we have a claim on future productivity on future productive wealth within the british realm and as a result of that we can tax on that wealth and the money that's created in british pounds is an iou claim on that wealth that we are able to tax now i know this question seems really sophomore but the idea is like ten pounds ten pounds of what seashells rocks gold to ten pounds i understand you know us twelve dollars that's called there's all different names for what that is but what do they mean pounds ten pounds of what we are i think that's the thing in this is what the scary thing for people with in terms of going awa

>> firofal iou bbo and tist f t rso.tnkhevegege ofhear sulgi them coidcehe'soio mand ith yes aad and that we'ren balae now. e co things e technologyotti i aumobiles isnoou ulo awh'sapni i ftre dit wldit going to create ne peens foronme a ao mpie need te okg fure dendndundersndg er ei nserargog. rhtbefore you g ino youoto t wh us da wwealng aut microft. it iornthaweetou outs on the maname change that we're sinat microsoft. is nn wstteth nvsation rlr ou cebook anhera foisonhawehrgh i ink every compy,he ey're der orouernes too roh tnsrmio omimtoimto revisitow th ora a wt th d thk isanemt ange isomg aexllt me from micsoft. y at nt,ha a t neffin, w ty mpe aloor, w ey cpe wh dierent ki o csur,andsca a diert chlolaor. deto goi tmole ses ke wellim pounity. a they the sam train ec as anyth cpa o tre meinyone? ihi ts aire, dot e it that way. thk compieth he en ou f decades d veeen ab tgr ivery dfilt enronmen. e alngiso agilend no get stu ia rtul waof doi tng th'sruif you'rea chlocoanorutobe mpy. >> tnkn mroftt' fainin how about ou

iou te ayllha al a ge tpoor peler pre e ucio syemedatn ulbe00 times moreowfu then y a delinpel's cabilities. th cospresonando thgs it does not le ppltoee at has gone we. itoes noenure emo ref . >>f u ok at all es cotries and the emerging midd csswh ergg to e midd class mea ith yogebeerduti a heth u e leo me in tms ctrutinto aecom atilli me op io thmilela. >>h's gh >>here a my op w lie thatoreign aidoe nowo. ma pplbeevthe is couponnd a better way. >>orgnidas snica reonbityormpvi al, d thosar tedes,ecsa emes foa uny aan i ecom wh wha de vain, reci msl, ttg li ne editi, ats y ki c del psillan meal a he untrieth otoooli wwa. atckg ren d t pastwh iwaco wre ymtsi llotti u for all t a dla tt have bn en mendani have total freed of howe spenthmoy. thurnalytic abilit im sange n have to b suer io at he iwh >>layopoted that t dg ofoigaid is a maab sllercentage. rway has the lge aid buetbuits only 3.0 >>hearexplary. eyo e st were ltlbile than 1.. aminy,eoe inth it 1 o20 ife reendinghamu ovse, en i wldaywo weava t of probls. wi iwe 2%. y tnk gd number would 2%? >> the ia t ats alth-related. >> you d'seth

ndarba and ty e not l e yac and iou th wl t l e yba to the point of8 nt a i which testat ithe 10 arer1., ban he ab pitnn most a portfoosndivsicaon unnsaid ndfus d dirsience,quieat so pntt mcesthe is pceorllf em onla pnt eerofetng ricqukl isve gti rhraf ow iov, o. to vatita tt gog rwd. no's ttg ch yme? >nomany. thwaytoeticanthpa waboowon a ve coore tuio ites buut otouyheto maet 23, lerty o veme. rpatnsboow0%f ei bancsheetndev uan yocabu uies. rocegeaseay tol tu, ghetn pe ofnvtmt rk iesrs vero -us t tnkinpeenisha th sulexctndou rct omon eal pce fm oc, n gng tohappen becseasal, avbe prid tohe rk. se a aificiaypred d om tspot,etng chn lere,ouetr ok eewre for yourot. merngarket lali, vewh war sinplin w,hi iou he image idotxaly tipa wn annouede ulbe u aving pimc eaiela mthdoou in tres any an hmit icarndonr anmah ts conties othi so. emgi mke is whe haedegan h welus heidoteay ve mh moy ergg rks, upsewe wdippnt wh hle a spred,es i inweeranwetill ar heilbeerilmah. thghi lfillemy j a denemy succe b visly no whe gngwhe s w sai wldbeheas erere esit will not be t fanalara. wl veo ess. you know, he m

we trust so much that it's there that we write a check on it and so we're basically using the banks iou was as if they were money from our perspective so that's one thing that's helpful although maybe with the with the improvements in payment system you know that that thing can be we become more efficient but then the other thing we're hoping that they would do would somehow have some competency in doing otherwise you know anybody else can do it is they can lend again do they feel like lending or not they can do a good job of deciding who to lend to aim how to set the right rates for lending and lending is good because many people in the economy can't fund what they want to do without borrowing and so they need somebody to lend to them and ideally do a good job of lending so we're kind of hoping and there's a potential that the banks would benefit the economy by lending that's of course what they want you to always believe they do in fact. in a room full of bankers you could ask what's the difference between a hedge fund and a bank these days at least with the big ones and the answer wo

as a result of that we can tax on that wealth and the money that's created in british pounds is an iou claim on that wealth that we were able to tap it's now i know this question seems really sophomore but the idea is like. ten pounds ten pounds of what the shells rocks gold to ten pounds i understand you know us twelve dollars that's called there's all different names for what that is but what do they mean pounds ten pounds of what we do i think that's the thing in this is what the scary thing for people with in terms of going away from the gold standard or something that's connected to it because basically it's not there's no intrinsic value it's you can think of it as a token almost a ticket you know it's really the the government has created this money and that they have a claim on productive wealth going forward and that they are the steward if you will of the economy as a whole and therefore because of their stewardship they're able to increase wealth in the economy and tax it and therefore the money will maintain some value no claim on productive wealth what do you mean by that

. -- iou explain to me why document cases going back to 2003 and 2002. nobody would notify. that would notify, and it was fiercely fought. companies did not want to notify their customers. i worked on that bill, it's not ofng to go anywhere because the notice provisions. here we are again with respect s. notice i believe that if somebody has an account, or uses their credit at your institution and their data is breached, they should be notified so they can protect themselves. do you want to respond to that? your viewe with completely, senator. our focus has been on having accurate and actionable information, balanced with providing that notice as quickly as possible and ensuring we had the capability to respond to millions of requests for information. public that dissemination was appropriate and would let all of our guest know virtually immediately. we were on the front page of every newspaper in this country. quick here is the problem with that. the public notification is always vague. it is sort of nonspecific. you really don't know, and then you find out kind of brutally

bsoetbeenp tsf thin b 's imrtt s tt ey are inwe icld rves amonicd outh retish wh ki iou n bdippnt t seiinixons, desnd walmarha any aivrole i heomnyth wlde d ws bilgas and ev llr d y acti role, th wld bbane. iabt nsidioof atosio is iornt peonitcongn d ki sothg olagn. ria yeto oryao! tnkheubcerptn isoucbeerow enteve js fts,he puicerptn aleee toegde ltlbi miost s maleubc- --as helubc ag hrie bl ige , ahi microst coumomnyisomg iti tnkt llo cko inmo oanntpre duinmeinthooes llote mh aacr yme. i inth iprab aoo thg r e compy. >>t is te atnef e eawhe satyaadel h fosesoucof hisengy i e ssexenrpsendhe tu othcld. thsa te, thiis heay w ueran oftaupansttso ea thlaua oso oth pele in sicovalley and a's e t fto w h gothobndhahean ratto a othe in anthe cng a h ty t into b cpa le crof iss ve dfent pk. ha altatysect one of t hh-ofe op fm tse e comnysobo o d t ceroa chlo bkgund, iwi be dfentppac hendstdsheor oal lelsigndma thnog e llryo t isew amonhat thcoancod . wwe tki autow crofwi pbablyfocus ssonheonmebuthe aonmezaonf chlo tt u e. xxroftusesf is csur se siss ong wi ibeg a sech gi. ay outho osctf crofse

i'm going to show you somew recipes that are realls ious and tasty. >> i call this my sun-drenched dressing.. it is really icious. isn't that terrific?fic? sun-dren sun-g. in your home, you can prepme, me, opped salad with a prestion like this.tion l.tion my kids come running for salad night now because itt s sobeca and exciting.d ex brenda, this is a great stand mixer. but we wanted to show you thatthe ninja th great jobth g job with all types of dough andf doug faster. i'm going to 'm going to mixer on. we have the dough speed over 'm goin ' that ' that up like that.e that. i have the dou i haed overhaha here. again, the dough speed over here. >> wow, look at how fast everng is getting done. ook at that.oo u believe that? the dough is basically ready.ic can you believe that? i'm going to shut off thestoesto too. these are not ready yet. i think the cookie dough is ready here. >> we have our cookie dough.ooki >> that is still going. inlly what this looks like.like. the dough is reathe doliterallylitera 20 sterads. he you have the pizza go. it is in a perfect ball. over her how great is the

iou.his piece of paper, and you're dropping the value, what you're doing to pay me back in, no way am i going to hold that security. it accelerates the debt crisis, it doesn't prevent it. >> how many countries -- you visited a lot of countries in the last year. >> mexico, cambodia, colombia, argentina, a lot of different places. >> a lot of emerging markets. what observations firsthand did you have? >> i met the government officials in mexico city. you know who beat me there? japanese investors. do you know what they were doing? buying upland. they're buying up sources of energy. anything they can to get their money out of yen. they don't want to sit there and hold yen. they want to try to diversify around the world. they beat me by two weeks. and the tone of the conversation when i presented what was going on in japan, the mexican government officials were saying, oh, this makes perfect sense now except they said it in spanish. >> sounds like the '80s in pebble beach has moved south. the