say thanks to our central bankers we speak to james turk founder of gold money about how we got here and what to do in light of this should you sell everything you own and buy gold we'll talk about what this means for gold as an investment also the case for a gold standard and we even take a look back at an unlikely advocate formal central banker and currency lover alan greenspan in lighter news you could say out of this world claims since we're on the paranormal will we see u.s. president barack obama's foreign policy go intergalactic in a quest for gold stolen by aliens we'll tell you at least how the white house responded to claims the chief executive has been teleporting to mars let's get to today's capital account. so just what can we expect in two thousand and twelve well co-founder of the largest bond fund in the world bill gross says this is what we can look forward to it's as if the earth now has two moons instead of one and both are growing in size like a cancerous tumor that may threaten the financial times oceans and economic life as we have known it for the past half cen

great point how do you put the genie back in the bottle it's actually a question that i posed to james turk some would argue the economy is going to have to go over a cliff first and take the currency with us and this leads us to how to protect yourself and turk was talking about gold and are you be mad elo well says sell everything and own gold at that i started to stock up on plenty of food and ammunition since last year well viewer it turns out you are not alone my friend it looks like more people were at least looking at buying guns last year according to the f.b.i. it performed a record number of instant background checks in two thousand and eleven these are for could be would be firearm buyers sixteen point five million a fifteen percent from two thousand and ten and anecdote. italy if you follow me on twitter you know this because i was tweeting about it last week and tweeting pictures and a lot of us retreating back and forth about it but i actually went to a gun range. for the first time in california over my break and it was packed it looks to me like a bull market and guns and am

of our poll shows and interviews are there check them out catch up also our web exclusive with james turk i am lauren lester and from everyone here at capital account until next time have a great night. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else and you hear or see some other part of it and realize that everything you thought you knew you don't know i'm charged welcome to the big picture. will be the true story is technology innovation all the news developments around russia we've got those huge earth covered. wealthy british style sun. sometimes. markets why not come to. find out what's really happening to the global economy with my stronger for a no holds barred look at the global financial headlines tune in to kaiser report on our. governor romney do you believe that states have the right to ban contraception all the problems in the world and yet if contraception that really gets the republican candidates risky so with the current state of the economy and and with american wars what's more important candidates valu

speaking of the previous day we did touch on this yesterday on our show when we were talking to james turk too so what exactly is this well this is a place where qualifying financial institutions can make overnight cash deposits for a risk free but extremely low rate of interest ok this interest rate represents the key rate set by the e.c.b. which currently stands at point two five percent so this is basically where banks park their cash it is the bank account for european banks and the interest they receive on that money directly influences interest rates across the euro zone more broadly to now let's take a look at a chart put together by zero hedge using numbers from the e.c.b. that showed deposit facility usage at the central bank over the past year wow look at how it has gone what is important to note from this graph is that those latest numbers right here represent record highs for euro zone banks and ok why is this important while every euro that banks are parking at the e.c.b. is a euro that is not being lent out now consider this the e.c. be already went through the trouble of. ab

there but what are the chances that this could actually work or earlier i caught up with james host of the young turksnd i first asked him what he thinks of the resolutions that are being passed so if you city council voted but is actually going to make congress act. well yes and no so if you're asking is it going to specifically lead to the resolution that we're looking for no because for example in new york city doing this is fantastic but you really need new york state to call for a constitutional convention to get a constitutional amendment if you're going to do it at the state level but yes in the sense that all this is great momentum because it's all these different cities and the supreme court of montana and so many amendments right now in the house in the senate saying enough is enough it's so obvious that money is corrupting politics and we've got to do something about it so all these voices are enormously important and we need every one of them as we fight for that amount well in terms of that ruling in montana specifically and apply to their ban on corporate political spending that's been i