after that top-secret, 1913 meeting on jekyll island. >> i have been to jekyll island, is very interesting. another institution is making news. not the fed, the imf. raising its forecast for it u.s. growth. you can see that reflected in u.s. futures and around the world. futures up 7 points on s&p, about 0.5% gain. same on nasdaq and dow. we are seeing the grind higher for bond yields, 2.9% on the back of fed taper. chinr taking it on the against most currencies. crude oil falling, it has been an uptrend. that has an effect. looking at the price of gasoline. cents over the last week. >> i knew i paid more. >> gasoline futures are rising. >> the china market story everyone has been looking at? >> everyone is concerned about what is happening with that. >> it is a seasonal thing, it has been percolating and is not going away. >> i am not concerned. >> if you went to beijing, you would be. >> it is a command economy, we cannot invest as regular joe's. bank managers and china will do what the party tells them to do. >> it is not working. >> they may have lost control. page,'s get to our front

financial figures the select group of influential men convening for a ten day top secret meeting on jekyll island just off the coast of of georgia and what resulted was a plan for something called the national reserve association an institution that would handle government debt to remain privately run and one hundred thirteen president woodrow wilson signed the federal reserve act codified in america's most powerful financial institution one that is neither federal nor holds any reserves so we're going to help me break down some questions and misconceptions about the very complex workings of the federal reserve system i'm joined by a host of artie's boom bust erin ade what. have you got be her. you love being on set. oh it's ok. i know you are here is what i've been i'm going to love and having you explain this for the last couple days really mind blowing stuff and i think the biggest misconception that people have of course federal reserve its right i mean it's public but it's not why is that not the case that's exactly what i mean the title is almost intentionally mis. misconceived because it i

andersonville, jekyll island, savannah, charleston. nine days, several presidential sites.e have designed a tour that is equal parts civil war and civil rights history. host: is this a lecture series? putt: we get a bus and we 35 people on it and we go to great historic hotels and restaurants and walk through historic sites and museums and libraries. you name it. it's a great adventure. we have lots of repeat participants. online to presiden tsandpatriots. if you want to talk to a real, 657- human being, call 202- 7744. host: richard norton smith is with us for the next half hour or so. ginger is on our line for independents. i am somewhat of an anomaly, or was. i live in louisiana. i am a caucasian. i was so excited when obama came out. i fell in love with this man. course, i don't tell anybody who i voted for. i voted for him because it would start a brawl down here. i voted for him in both elections. in the last six months i started to think, did he not mean what he said in all his campaign promises, or are the republicans preventing him from accomplishing these? months,

andersonville, jekyll island, savannah, charleston. nine days, several presidential sites. what we have done this time, we designed a tour that is equal parts civil war and civil rights history. host: is this a lecture series? guest: we get a bus and we put 35 people on it and we go to great historic hotels and historic restaurants and lots of historic sites and museums and libraries. you name it. it's a great adventure. we have lots of repeat participants. if people want to call, they can go online if they want information to presidentsandpatriots. all one word. if you want to talk to a real, live human being, call 202-657- 7444. host: richard norton smith is with us for the next half hour or so. as we talk about second-term presidencies. ginger is up next from louisiana on our line for independents. good morning. go ahead. caller: i am somewhat of an anomaly, or was. not in the majority. i live in louisiana, i am a caucasian, and i was so excited when obama came out. i fell in love with this man. of course, i don't tell anybody who i voted for. i voted for him because it

andersonville, jekyll island, savannah, charleston. nine days, several presidential sites.is time we have designed a tour that is equal parts civil war and civil rights history. host: is this a lecture series? putt: we get a bus and we 35 people on it and we go to great historic hotels and restaurants and walk through historic sites and museums and libraries. you name it. it's a great adventure. we have lots of repeat participants. online to presiden tsandpatriots. if you want to talk to a real, 657- human being, call 202- 7744. host: richard norton smith is with us for the next half hour or so. ginger is on our line for independents. i am somewhat of an anomaly, or was. i live in louisiana. i am a caucasian. i was so excited when obama came out. i fell in love with this man. course, i don't tell anybody who i voted for. i voted for him because it would start a brawl down here. i voted for him in both elections. in the last six months i started to think, did he not mean what he said in all his campaign promises, or are the republicans preventing him from accomplishing these