the author of the new milton friedman biography here next.ites of room ♪ lou: milton friedman changed the economic history in this country, the political history, what are you, as well. joining me now with a look and a collection of free men essays that still provide great insight into pressing issues of the day, the author of a new book, the editor of the new book, the indispensable milton friedman and jack scholar at the cato institute. good to have you with this. >> is great to be with you. the idea at that friedman has had so much of an impact on the ideas, the discipline of economics, but profoundly on american political history, that does not come as a surprise to many people. but the degree to which he has influenced political history, i think, is a shock to a lot of folks. >> i think there are few people, there are few people who have had more influence than milton friedman on politics and economics in the last half century. and certainly would john maynard, one of the two great economists of the 20th century. so many public policy ar

each chapter has -- i try to create these clever titles and for milton it is milton's paradigm -- paradise. but there is paul sweezy and paul sweezy was a marxist economy that taught at harvard university and an austrian economist defended having paul sweezy there at harvard to teach there and finally he gets kicked out and started his own monthly, think it was called the monthly review or something like that, a publication to defend socialism and marxism and he got albert einstein to write the very first issue. it's kind of like getting marilyn monroe to pose for the first issue of "playboy" so he was up early at man who died a few years ago hina -- kind of the representative of the marxist academic toward the. as i point out the marxists have the similar views to the austrians in one respect. both schools are very pessimistic about the future. in the case of paul sweezy, the twilight of capitalism. marxists are constantly rewriting that title that capitalism about to collapse at any time and the austrians have the same thing. the boom and the economic them that we just cannot last and it

album of says that he's interested in jewish and milton's didn't diminish even after president saakashvili came to power and then often bridge street as an envoy of democracy. everything is still controlled by the anti-terrorist center the mujahideen and the gym are in it's hands they are their people and the chechen who lives in georgia and wants to study in an islamic country have to go through the anti terror center they tell you to tbilisi you go to the center meet some official and they won't let you go into you say yes to you agree to work for them although i'm of graeme's that his knowledge almost cost him his life following an assassination attempt he was allowed to return to church now with a green light from russian authorities after he asked for forgiveness now he plans to reveal everything he knows he would just come off grossly the chechen republic. and i just soldier and a civilian contractor have been killed in eastern afghanistan and in the parent green on blue attack the incident brings the number of deaths among u.s.

and what would milton friedman think? deral taxpayersbailing out states. milto friedman biography here next. el. but because of business people like you, things are beginning to get rolling. d regions is here to help. making it easier with the expertise and service to keep those wheels turning. from business loans to cash management, we want to be your partner moving forward. so switch to regions. and let's get going. together. ♪ lou: milton friedman changed the onomic hitory in this country, the political history, what are you, as well. joining me now with a look and a collection of free men essays that still provide great insight into pressing issues of the day, the author of a new book, the editor of the new book, the indispensable milton friedman and jack scholar at the cato institute. good to have you with this. >> is great to be with you. the idea at that friedn has had so much of an impact on the ideas, the discipline of economics, but profoundly on american political history, that does not come as a surprise to many people. but the degree to which

and he kept saying, "wait till you meet milton. you got to meet milton."hat fall, when milton got back from paris, one day, i was in bill's studio and milton came, and we met. resnick: but i could see pat, you know, was special. passlof: i'm, perhaps, overly romantic. you can see that the figures are moving, but i'm actually restraining myself. you can imagine what they would be doing. they would be flying off the paint if i wasn't. but i think intensity depends on restraint, preventing things from moving. and we all learned that a little bit inhe so-called abstract expressionist period when everything was going very fast. resnick: the difference between us -- i like to waste my paint. right. she never wastes her paint. i waste it. it's on the floor. pat can have a tube of color that she knows exactly what she's going to use it for. it's important to her, which is not for me. so her way of painting has to do with what she sees and how she uses it. passlof: i work abstractly in the beginning. i don't bring the figure or the horse or the tree into it. i find

each chapter has -- i try to create these clever titles, and for milton, east milton's par dies. there's wall, and paul was a marxist economist that taught at harvard university, and actually joseph, an austrian economist, defended having paul at harvard to teach there, and finally, he was kicked out and started a -- his own monthly -- the monthly review, something like that, a publication to defend socialism and markism, and he got albert einstein to write for the first issue. it's like getting marilyn monroe to pose for the first issue of "playboy." he was a brilliant man, died a few years ago, kind of the representative of the marxist academic point of view, and as i point out, the marxists have similar views to the austrians in one respect. both schools are pessimistic about the future. in case of paul, the twilight of capitalism. marxists are constantly rewriting that title, that capitalism is about to collapse at any time, and the austrians have the same thing. the boom, the economic boom we exist cannot last, but must end in a crash or a depression or what have you. i'm a

evolving role over the last five years. >> i think milton friedman -- i'm a very big fan of milton friedman. i knew friedman for a very long time. i was a colleague of his for a while at stanford. i've had many opportunities to talk to him. i spoke at his 90th birthday party. i spoke at some other events in his honor. he's a terrific economist. very insightful. i think he would have supported what we are doing. one of the things that made friedman's reputation was his work with anna schwartz about the great depression. and they pointed to two basic problems and they're very analogous. what i was just talking about in the context to japan. they pointed to the inflation, the overly tight monetary policy at the period, and they pointed to the collapse of the banking system and said it was the failure of the federal reserve to address both of those problems that made the u.s. depression as bad as it was. we took that very much to heart. we were aggressive early on. we didn't allow the fact that interest rates were very low to fool us into thinking that monetary policy was as accommodative as it

you want to give our condolences and certainly acknowledge milton's contribution to our college, not only to his family, community, to the environment that he terrorist so much, but also to the institution of our city college that he worked so hard to improve. he took up the mantle, especially in the hard times when it was challenging already. i had a chance to express that to abby last week and let her know that we were thinking about >> thank you and welcome everybody to today's announcement of my appointment to the city college board of trustees for san francisco. let me begin by thanking my good him, certainly, were blessed with the many years of service that he and the family provided. his contributions to our education community will be sorely missed, but for the generations to come forward for will provide, continue to provide the kind of education and job skills that we need for our city. over the last few weeks, i have been working closely with the city college to assess their fiscal, managerial, and accreditation issues. i want to thank the people behind me. in particular,

milton friedman in his own words. now, rick, i know what you said, that anna schwartz -- >> i figured you were on for a reason today. >> what's that? >> i figured you were here for a reason. >> go ahead. >> i'm here to talk about jobs, but if we could have an aside, discussion, me and rick on the side. here's what milton friedman said in his own words in 2000. now the bank of japan's argument is, oh, well, we've got the interest rate down to zero, what more can we do? it's very simple. they can buy securities and they can keep buying them and providing high-powered money in until the high powered money gets the economy in an expansion. >> must have been a fun dinner conversation around the friedman table. >> exactly. >> i'm only talking about credit crisis issues. only give me quotes after the summer of '08 like from anna schwartz who basically said it's not the same problem as in the depression. >> right. but what we're saying is what milton friedman said for japan -- >> i don't have a problem with his issue in japan

more now from milton in johannesburg. how be killed will this inquiry be? >> actually, i happened to be at the civics center where the judicial commission of inquiry into the killings has already begun. it has been led by a retired judge, who this morning asked for a minute of silence, to stand up in memory of those who were killed during the disputed strike. today the judge is hoping that the commission, all the members of the commission, this three member panel and legal representatives of the party can go to the scene of the shooting to look and investigate further what happened. >> i think that the inquiry is going to take some months, but regardless of the outcome, the events have already sparked further industrial disputes across the mining sector, have they not? >> what has happened is south africa it is in strike and yes, indeed, you are right. because of that other sectors in the mining industry have joined the strike. we are currently also looking at the industrial dispute amongst the truck drivers. there are political ramifications. the governing

now, what is your name is you are milton, right? >> i'm milton.hat's up. >> reporter: what's so special about this game in your opinion? >> we have the whole city coming out everybody from around the bay area showing support for the best underdog in baseball right now. >> yeah! >> the city's uniting about a good cause and we're all having fun and enjoying ourselves. >> reporter: thank you, guys. thank you. these guys are here to see a sweep today. not only will it be a sweep, where is that broom, but for bragging rights number one in the american league west. if you want more information about all today's coverage, visit us online, cbssf.com poinsettias sports. go as! >> whoo! >> she has the power. >> no kidding. >> quite the crew she's with today. >> i'd love to watch the game with then. >> it would be a riot. >> so much fun. >> they are already started. >> there were a few raider fans in there, too, i think, maybe ale. >>> things get personal for a local tv news anchor from wisconsin. after receiving an email complaining about her being obese as

david: i was a friend of milton, and ben bernanke is no milton, i can tell you that. thank you so much.3 better economic news pushed the markets up, but does the rally really have legs? lauren: joining us a john manly, wells fargo chief equity strategist, and in the pits of the cme, scott bower senior market strategist. hey, guys. >> hello. >> how are you? lauren: why didn't we hold the highs of the session? what's this manufacturing report? okay, we're not shrinking, but is it really a good report, reason to cheer? >> better than not. you know, it was up, not down. it was 511, -- 51, not 49. better than it was. it was a microcosm of what they face. the fed is willing to do anything that has to be done, thaw that implies something has to be done. david: john, you said the market remind you of the 1980s. we had real growth then, not now. in what ways does it remind you of the 1980s, john? >> very early, 80 #,81, when the market was dealing with issues. they forced will on the policymakers, and i think that's happening over. that's why it's like that. we get the growth

. >> you say in your book he thought milton could be his successor? >> he was very close to his brother. he found that ike was paying for him to stay at the white house. he then stayed at a hotel. typical, scrupulous, cost- conscious kansans. there is not much record about what milton said to ike. those notes were not taken. he had a bland memoir. clearly, ike valued milton. he said in various levels he could be president of the united states. obviously impossible. maybe not so impossible. look at the bush family. it didn't happen though. >> if i calculate this right, he was 63 to 70. >> he turned 70 in november of 1960. he was 70. he was the oldest president ever. he was 70 at jfk's inauguration. >> 63 to 70, and he was sick all that time. >> world war ii will take a toll out of you. he ate a lot of states. -- steaks. by modern standards, he did not have the healthiest diet. he quit smoking. four packs a day. it took a toll on him. his stomach was in bad shape. he had something wrong with his intestine. they had to operate. it was mostly a nervous st

used to justify this crime spree comes under two had ngs there's the trickle down economics there's milton friedman monetarism or there's keynesian deficit spending and but they've tried both of those you've got record deficit spending and record monetary stimulus but the economy is still contracting why is that is just because the criminals of completely taken over and we should look at any economic theory any more dr michael hudson because it's not about economics anymore it's about rape and pillage what you're quite right max this is what makes the wall street financial oligarchy different from the mobsters in the one nine hundred thirty eight movie wall street does something that the mug can do they've taken over the educational system and the government statistical system to keep picked what they're doing as wealth creation and of deficit that you've just mentioned hasn't been the kind of deficits that you had in the 1930's or that in after world war two they're not deficits oh government spending in the real economy to employ labor to build roads. build infrastructure or even to buil

world people in mainstream media and economists are discussing well these are keynesianism is it milton friedman ism it's like discussing you know the mechanics of an atomic bomb was being dropped on hiroshima that's not really the point isn't the point is that is blowing up and killing people. will the point is that this financial bomb is exploding jamie diamond is the arch master enemy an evil incarnate who's killing hundreds of thousands of people suffering austerity because he's got the weapons of mass financial destruction and he's using them he's using them now well peston at the b.b.c. goes on to say quote it is noteworthy that banks in the u.s. and u.k. that are trying to clean themselves up cannot yet escape from the costs of the sins of their past the such a lame comment they can't escape the sins of their past they've done nothing but a scape the sins of their does anyone go on to jale they paid more than a token sum of all fine robert peston mainstream blowhard know they haven't what about some deterrent for committing a crime. well speaking of sins and escaping the sins of

have been successful to the university of chicago economics department and notable fraud such as milton freed man. the idea of neoliberalism is there should be massive, selective tax cuts. margaret thatcher it is there is no alternative. of course that's absurd. there was an alternative. we have to connect the dots to understand what is going on today. i read the chronicle. so what i've done is put together a montage of the murder of public sector, which is going on everyday. in fact all of the public sector is in body shape. public libraries, parks from the municipal to the national level. our character is among the worst in the world. the new deal deals with things in a different way. when i was going to school, california school's were the best. now they are among the worst with the new budget cuts. of course, my university is being privatized. all of the higher education is being privatized. all through the uc system. how do you run a modern state with tax cuts? we resort to desperate, back last november, we were asked to vote to make four indian casinos in san diego county pony up

milton avenue...///.he... hospital...///. according... baltimmre sun.../ there... have... been... 1755 homicides... in baltimore../. far... this year..../ - compared ...to...198... for... all of last year. a... two... alarm fire... in... federal hilll.. sendss.. one... family.... another ... - thru... her second stooy... in. window.joel d. smith was there had o quickly gee out of the pome themselves.... because the flames had a big ally. ally. nat fire/flames.even wwth smoke racing out the windows to consume the bbttery avenue skyline.... the firefighhers move in closer... 1717 firefighters up oo the roof, amazing, very brave, never seen anyyhing like it before, all five members of the family at hooe aaound 4:00, innluding 2 children... gee out quickly... but it'' what they leeve behind that keepp this fiie going... and growing stronger every minute. 10:25 what e found to be quite challenning is this dwelliig filled withhdebris. 10:32 cardboard, cloohing, wood, whatever youucan ghink about, thhir hooe. that's simppy what's caussng this fire toobe a bit stubborn. another fi

condiciones que son complemento increÍbles porque no ha tocado tierra y estÁ volando techos para ver si miltonnundaciones, los vientos son incontrolables yo no sÉ cuan tiempo podrÉ estar sostenida de pie y mantenerse al tanto con telemundo porque sandy es un huracÁn fuerte y furioso. >> isolda p. reportando desde new jersey, son 11, 11 los estados en la frecuente trayect esta sÚper tormenta, hoy dÍa el presidente obama pidiÓ tomar en serio las recomendaciones de las autoridades locales, lori montenegro estÁ en washington con lo que estÁ haciendo el gobierno feder para enfrentar el fÓmeno. >> la avenida pennsylvania una de las calles mÁs transitadas en la capital hoy dÍa estaba casi vacÍa, es que miles de empleados del gobierno federal se quedaron en casa sus oficinas estaban cerradas, igualmente las escuelas. hora. >> comida en lata, agua,leche. >> el presidente obama recibe cotantes reportes sobre la tormenta. >> advirtiÓ a los millones que viven en la costa este no subestimar al huracÁn sandy. >> los llamÓ a no cuestionar las Órdenes de las autoridades y asegurÓ que todos los recursos del go

universidad, el campeon xelaju visito jutiapa y derroto 3-1 al mictlan con anotaciones de carlos asprilla, miltonl de gerardo molina. cerro la jornada, malacateco que supero 2-1 a halcones la mesilla. jairo arreola (28 1-0) jairo arreola (59 2-0) en el futbol hondureÑo fue una jornada de pocos goles pero con cambios en la tabla de posiciones. deportes savio con platense empataron 1-1, motagua jugando de local nivelo tambien 1-1 con real espaÑa, goles que llevaron la firma de amado guevara y jonatjan hansen. atletico choloma fue quien gano solvente 3-1 a real sociedad, vida con victoria nivelaron 0-0 y marathon en san pedro sula le gano 1-0 al olimpia con gol de rony alberto flores. en argentina, river plate parece estar encontrando la formula para ganar y subir mas en la tabla de posiciones el fin de semana goleo 5-0 a godoy cruz, tenemos imagenes y la palabra del tecnico matias almeida. en peru jornada de pocos partidos por el trabajo de la seleccion. los cremas de universitario de deportes ganaron solventes, al golear 3-0 a jose galvez, los goles llevaron la firma de juan carlos la rosa, horaci

clearly, ike valued milton. he said in various levels he could be president of the united states. in a possible -- obviously impossible. maybe not so impossible. look at the bush family. it didn't happen though. >> if i calculate this right, he was 63 to 70. >> he turned 70 in november of 1960. he was 70. he was the oldest president ever. he was 70 at jfk's inauguration. >> 63 to 70, and he was sick all that time. >> world war ii will take a toll out of you. he ate a lot of states. by modern standards, he did not have the healthiest diet. he quit smoking. four tanks today reach a four packs a day -- four packs a day. it took a toll on him. his stomach was in bad shape. he had something wrong with his intestine. they had to operate. it was mostly a nervous stomach. he would get sick when he gave a very important speech. he gave a famous piece -- speech about the importance of peace. he was sweating and he was skipping pages because he was afraid he would have an unfortunate accident. >> i wrote down a lot of words used to describe him. i will mention them. give us a little touch of

right xngvc@c@ >> jon: on november 6, americans will go to the polls to choose either barack obama or milton romney as our next president. (laughter) but what if-- what if-- it had been cain? (laughter) john oliver has more in this continuing series. >> in october of 2011, herman cain led the polls for the republican presidential nomination. tragically, america was denied a herman cain presidency, but recently i sat down with mr. cain for a series of conversations to explore some of the tough decisions he would have faced in office. tonight, china. >> we currently owe china approximately $1.5 trillion. >> holy (bleep). (laughter) >> yes, that's a problem. the american people should not only be concerned about this amount of debt, they should be frightened because of this amount of debt. >> they should be bat (bleep) terrified. >> absolutely b.s. terrified. >> should we at least be learning chinese at this point, mr. president? try this, ni hoa. >> you might offend them if you only no one word. >> well, try this one. (speaking chinese) >> (speaking chinese) now what is that? >> that's actuall

i'm still here at lovely santa rosa, main unit, here in milton, florida.s not exactly the best place in the world to be, so i would not advise anyone out there coming in -- i know i have a lot of regrets. the food here is horrible. so is the daily schedule. it's pretty boring. i work in laundry here, five days a week, monday through friday. i'm a sewing machine operator. nothing too glamorous about it. >> santa rosa's laundry plant is a sea of blues and whites. sheets and blankets. about 60 loads of laundry gets washed, dried and folded here every workday. the inmates who shoulder the burden put in eight hours, just like a job on the outside. and should one of them ever tire of the job, there are plenty of others eager to replace them. >> i get about 70 to 80 work requests, i want to work in the laundry, a week. of course, we're only authorized 18, so. it's a highly coveted job and position here at santa rosa. they're not getting paid. they get game time for their pay, but they like working here. it's a good atmosphere, a good environment. we attempt to re

i will do everything in my power to ensure not only do we follow the great work of former trustee milton marks. that great legacy of public service. but at the same time, i join an institution that must be saved, an institution that must be preserved. [applause] i am absolutely committed to that goal. that goal will be shared by my fellow trustees. i will be working diligently with them to ensure we have not only the consensus that we need to pass a difficult reforms, but more importantly, we must support the interim chancellor pamela fisher. [applause] our primary duty is to ensure that she receives the support and tools needed to implement the difficult reforms that are going to be required to preserve this incredible institution that teaches this history, as the mayor said, over 90,000 students. we're going to offer that supports. we think it is crucial as trustees to give the chancellor the support that is required, and at the same time, we will hold her accountable. we will help her, we will challenge her, and i know she is imminently qualified to help us save this institution. i wi

morning.a 19--ear-old man was street and milton avenue.he - according to the baltimore &psuu... therr have been 175 hhmiiides in baltiiore so far total of 198 for al of last year. investtgattng the deadly - in west baltimore over the man - weekend.ii happened -sattrdayy avenue and garrisoo boulevard. &ppolice ffund he man sufferin head. anyone with information ssould cll police. "foobes magazine" has ranked baltimore the 7th most most ddngerous city in the u-s. u-s.the magazine....which 2011... ranks detroit as number one....for tte fourth year in a row..hile most piolent crrmes fell 10-percent last year... the raae was still á5 timesá the natiinal average. ooe other cities on tte list include saint louis... oakllnd, califfrnia... memphis, &palabamm. the international cycling union strips lance armstrong of ll 7 of his tour de frrncee titles.the move comes ii responsee t thh -s the champion cyclist.the u-s-a-d-a says armstrong was involveddin quote - "theemost sophisticated, professionalized and &ppuccessful doping program."&p 3 barack obama gg head-to-hhaa in florida... for the

milton, bbc news. >> in other news now, somali forces have entered central kismayo two days after al shabaab fighters went in the region. they're patrolling the city's main roads for the first time. kismayo was al shabaab's largest strong hold and one of the largest sources of funding. at least eight people have been killed and 40 injured after a ferry sarning off the coast of hong kong. around 120 were onboard when at the collided with a tug boat near lamma island. they were going to view a fire work display to mark china's national day. iran's currentsy has fallen to a record low against the dollar. at one point on monday they lost 18% of its value. analysts say there's growing evidence that international sanctions over tehran's nuclear program are damaging the economy. now to the presidential race here in the u.s. and both mitt romney and barack obama are busy swatting up and rehearsing for the first television debate this wednesday. polls show the republican candidate is trailing president obama in the crucial swing states. one of them is of course ohio where early voting gets un

i don't understand why people don't hear milton friedman. >> neil: very well put. scott mcnealey. you. scott's point you don't need economics degree from harvard to figure out as bill clinton would say basic arithmetic. it's working against both party right now. it's working against americans right now. the way things are going, we're piling debt at $4 billion a day, every day, every day. think about that. to me if a party does anything at all, address the growing debt. we're having arguments about big bird and whether he's surviving. they're planning a big bird sympathizing march to support pbs. mark levin says we're seriously plucked. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign.

album of says that he is interested in jewish and milton's didn't diminish even after president saakashvili came to power and then often were treated as an envoy of democracy. everything is still controlled by the anti-terrorist center or the mujahideen and the gym marks are in its hands they are their people any chechen who lives in georgia and wants to study in an islamic country have to go through the anti-terrorist center they tell you to believe he go to this center meet with some official and they won't let you go until you say yes into you agree to work for them are them of kareem's that his knowledge almost cost him his life following an assassination attempt he was allowed to return to church with a green light from russian authorities after he asked for forgiveness and now he plans to reveal everything he knows you are just going off are grossly the chechen republic. and coming up later in the program and unexpected visitor we give a set period as takes part in the u.n. general assembly with the help to find out more than just a theme in. a sacred place rising out of the waters of

. >>> extra security measures will be in place happening this morning at milton wright my hi school in harford county after a threatening note was found on campus yesterday. officials say it is the second threat in two weeks. they don't believe it's credible however they are take measures just in case. >>> it's illegal in marveled but drivers do it anyway. texting while behind the wheel. students from glen burnie are going to learn about the dangers today. a car will be hooked up with a virtual game showing just how hard it is to text and drive. students will be doing it between 9:30 and 10 this morning but the sm lateor remains in -- simulator remains in place until this afternoon for you to check out outside glen burnie mva. time for democracy 2012 and set your alarm forenoon when donald trump says he will make a business announcement about president obama. the business tycoon is giving a few hints he is been a vocal supporter of governor romney. the announcement is expected on facebook and twitter. >>> visitors to the dulaney valley memorial gardens can find peace in new garden of t

someone asked him how milton friedman would respond to his policies.hey like to say that milton friedman would be rolling in his grave over what is going on right now. he thinks professor friedman would agree with what he is doing right now. also very interestingly, the question of the day, someone asked him if he thinks we are headed into another recession and we just do not know it yet. he sort of brushed off the comment and said, you know, i used to be a member of the bureau that decides whether or not we are in a recession. i know how these things and everybody laughed, whether or not you think it is funny where we are in this recession. he sort of brushed off the question and said, you know, doesn't really matter if we're back in a recession or not. where we are isn't good enough and we don't have enough jobs being added to the payrolls much the longer we go on like this the more unemployment becomes permanent. getting through there a joke, i don't know. time for stocks as we do every 15 minutes. let's head to the floor of the new york stock excha

i will never forget one of my last conversations with milton. i said, what are the three things we can do over the next 20, 50 years to increase the rate of economic growth in this country? and he said number one, school choice which is something he pursued very aggressively. number two, free trade. on the third thing he said is cut government spending. and i said milton, by how much? i'll never forget, he smiled and he said by as much as possible. and i think that's an interesting insight. i think of milton friedman were alive today he would agree with just about everything ben has said in a study. one of the things i find interesting is that the argument against doing these cuts, and facing this fiscal cliff, is that this reduction in government spending will cause all sorts of economic disruption and certainly a lot of the points that professor fuller made are correct, but i think the broader point is that you know, this is kind of generally a keynesian idea. bigamist been posting the economy and that the reduction in government spending as b

economist think it on the top of the mccains in a austrian i follow milton friedman it's all because at the end of the day what we have here is a collapse of these economies there's no economic school that covers it and the governments are simply creating more debt to handle it and gold is the only true there's only want to converse the world his name is mr gold forget about dr copper i'm talking about mr gold he makes all the other economists look like chumps most of the mainstream media focuses on whether the dollars trading against the euro up or down are in the end up or down and essentially they're all falling against gold obviously a currency like the iranian realises falling precipitously but all of the currencies are falling it's just a matter of degrees of speed i'm so little the other ones i think go down in the order of vulnerability they're falling down like dominoes or two they're going to be the last to go up the u.s. dollar because it's the words are of currency and the u.k. pound because this is the epicenter of global banking fraud but everything around those two are

that cancer makes to the host that's the cancer argument regarding the deferred gravity situation milton friedman already tried that until a it didn't work so we already know that doesn't work lanny breuer says that he has seen in his office he's had meetings during these deferred prosecution cases from c.e.o.'s general counsels and economists have been brought in to plead the case for these corporations and he said i have heard sober predictions that a company or bank might fail if we indict the innocent employees could lose their jobs that entire industries may be affected and even that markets will feel the effect sometimes though let me stress not always these presentations are compelling two points number one there is no such thing as an innocent employee if you're an employee at one of these banks you're as guilty as sin and you deserve everything that's coming to you because you willfully engaged in financial terrorism that's point number one point number two that they took all the principals and they packaged into a collateralized principal obligation note and they sold it forwar