their academic theories can solve problems of the global economy and we heard this from christie look lugard recently her response to the european crisis is to simply create more debt this is a typical response of a bernanke you're an academic who their job is to come up with formulas how to

their academic theories can solve problems of the global economy and we heard this from christie look lugard recently her response to the european crisis is to simply create more debt this is a typical response of a bernanke you're an academic who their job is to come up with formulas how to increase the debt load and they have lost touch with the reality of gold and what's going to happen is that the market itself will impose the reality by crashing the fee at currencies more than they've already been crashed this is why we've got our price target of gold now set to ten thousand dollars well the other thing is that. there are many reasons why people and investors and nations around the world have been buying gold and it will tail risk as bernanke is one of the many reasons he is the primary reason i would say people are buying gold but he's distracting you with this one element of tail risk and i want to move on to the next to show you the political theater and how it works with the propaganda that we see going on in this financial war talks inflation change could cut social security you kn

or lugard will take over let me ask you about a couple of issues what worries you the most la garde did her best to stay on message we cannot be only driven by the hope to reduce fiscal deficits and organize fiscal consolidation in a big way whether you look at advanced economies or whether you look at emerging markets or low income countries the issue of employment. is a critical one the one hundred eighty seven nation organization has already lent one hundred sixty billion dollars to cash strapped nations many of which have little hope for paying it back. so the real questions are manifested here on the streets of some of the nation suffering the most are accepting aid from the i.m.f. has been presented at times as the only option as austerity measures are now being put into place the questions too are in the dollar and how its value may or may not change under her watch for managing the debt crisis around the world will fall at the top of her agenda as the rest of the world watches with hope first ability in an unstable world in washington christine for south r.t. . ten minutes past