i spoke to juergen todenhofer earlier today. mr. todden hover, thank you for joining us.ant to start by asking you why you decided to go behind the lines with islamic state forces? >> because i started to write a book about isis at the beginning of the year. and after some months i realized that there was no real authentic information. and usually when i write a book about afghanistan i go to karzai, the president karzai and i went to the taliban, the leaders of the taliban. and i went to iraq. i met the government and i met the iraqi resistance. i spent seven days with them. so it's my normal strategy when i write something, that i speak to both sides. >> ifill: you didn't go by yourself, you went with your son. and what i'm youruous-- curious about is how you got in, who do you call to get behind the lines with isis forces? >> i called, i wrote to ira iran-- about-- which were on facebook. i got about 15 answers and with these 15 people, i started skooib conversations seven months ago. and at the end, two were interesting. and with these two people i skyped maybe 20 hou

click thanks to a -- >> thanks to a safety guarantee, 74-year-old juergen was allowed to spend 10 daysn northern syria and iraq, including muscle --mosel. there he got a lot -- a look at life under the islamic state and spoke to the fighters about what motivates them to carry out acts of extreme brutality. >> he joins us now from munich. you are just back from 10 days in is controlled territory. the juicy anything that positively shocked you? -- did you see anything that positively shocked you? >> everything shocked me, but it is amazing to see such a terrorist group, the islamic state, has conquered an area which is bigger than great britain. that is an incredible effort and an incredible success. and at the same time, every day, hundreds again people come from western countries to join this organization. i was always [no audio] of victory. i've never seen something in war zones. and i've been -- i'm never seen something like this in war zones. and i've been in many war zones. >> what major realize and think people are incredibly fanatical and enthusiastic about what they are doing? c

k juergens and and or partner [inaudible] and the faithful. change my life. i have personally participated in their programs. their ministry of witness. a advocacy education and the arts. they understand the role of expressive arts and healing from addiction and mental illness the bad luck that puts people on the streets. i personally participated in their movie nights in their annual fundraiser. i've been a donor i've included them in my estate plan. they have regular zen meditation space e-book and walk in off the street and spent an hour in quiet. they have regular bible studies, movie nights. i've read plays of playwriting workshop i've attended art showings. i've been part of their play leading workshop. it is just an amazing ministry that the basic point is to accompany people in person through their ups and downs in the streets rather than sitting in a place of detachment and judgments. their core ministry of bringing middle-class people together with people don't have access to wealth and privilege by walking on the street on the regular street retrea

k juergens and and or partner [inaudible] and the faithful. change my life.i have personally participated in their programs. their ministry of witness. a advocacy education and the arts. they understand the role of expressive arts and healing from addiction and mental illness the bad luck that puts people on the streets. i personally participated in their movie nights in their annual fundraiser. i've been a donor i've included them in my estate plan. they have regular zen meditation space e-book and walk in off the street and spent an hour in quiet. they have regular bible studies, movie nights. i've read plays of playwriting workshop i've attended art showings. i've

we tracked down daniel juergen at ihs. >> this is a new world in which there is no price set anymore and oil is trying to find its bottom and it probably, at these kind of prices, is kind of overshooting everything, but it is the mood and there is nothing right now to stop it until there is either some geopolitical event that disrupts it or you start to see some kind of action to stabilize the price. plummeted into a freefall, losing as much as 19%. panic swept across the russian financial markets after they raise interest rates by the most in 16 years. that surprise interest rate research -- interest-rate crash caused the nile of speculation that the government would turn to currency restrictions next to stop russians from converting their money and dollars. >> you would have thought that raising interest rates by 6.5% might have been the kind of strong signal that would reassure the markets. it's got to be a scary moment when you do something that began dramatically and it does not state or in traction, that has to be a scary moment. >> new home construction fell slightly in novemb

this is daniel juergen. >> he won't have the maneuverability that he has had.in with people has been i will deliver a better economy and he has done that. let me run the show. chrysler is reporting sales rose 20% last month. that beat estimates. cheap fuel is driving sales. says dozens of the biggest european banks don't have enough capital to withstand a repeat of the 2008 financial crisis. deutsche bank and others were mentioned. the stress tests were flawed. isht now, jeh johnson defending the policies of the president's executive order on emigration. this is a live shot right now before he testifies before a house subcommittee. you can watch it on our live event channel right now at bloomberg.com. we are under 30 minutes away from the start of trading. what's cap you down to the top 10 headlines. matt miller and julie hyman are joining me this morning. we start with a little bit of a downer. number 10, matt look sad. analysis, the new american middle class has seen a's deep increase in the price of health care and other necessities over the past half decade

. >> we had dan juergen on yesterday and he had said the same thing.y what he said on the saudi's absorbing the shock. a new gaming in world oil. the saudi's have almost $800 billion of foreign exchange read -- reserves, and so they could wait this out. they do not want to subsidize , so thatezuela, iraq means they will let the markets sort this out. >> and $800 billion warchest -- he is right about that, but what could happen in the meantime? >> they will have to draw down some of the reserves, but they have massive reserves, so that is not a big issue. the main issue is not what happens to saudi arabia. they will be fine here what happens to venezuela, nigeria, high absorbers -- people that need higher oil prices? the low-absorbers, they will do fine. they will have some reduction in expenditures and reserves, but they have so many that they can afford that. >> on another note, in china, you have seen stock markets rally, over 40% so far this year, but just this week, though, the markets have started to taper off. i'm wondering if that have started t

dan juergens, thank you so much, the vice-chairman on ihs oil.al markets, it cannot going on right now. and we are deep in the red, down -- the dow down about 65 points. catch us up on overseas. >> risk aversion dominated the session, but let's not bury the story. you have a central bank that put up interest rates to 17%. and in fx market that turn around and laugh in his face. the stunning collapse of the ruble continued this morning. one dollar buying more and more rubles at session progressed. one, it's difficult to argue against calling this a currency crisis. -- andwo, have officials number two, have officials in russia completely lost control of the current? -- the currency? raises incted by 7% anyrest rates, and currency, whether the euro or the dollar, will get that much smaller. carl brewer is taking an absolute kicking in today's session. the company is one third of its earnings from russia. they are being punished in the equity market today. >> jonathan, thank you so much. jonathan ferro on the global market. a quick check of how stock