earn money.am pregnant, i am young, i am in this guy's house, we have no commitment, he can find another beautiful woman, they are born every day, so what is going to happen to me? and you have every right to feel insecure as long as he did not have this ring on yourfinger. and what happens about having a ring on yourfinger, it becomes legally binding. and once is legally binding, then you are lawfully his wife. so i see that is what you are looking for. yeah. it's clearjust how much cynthia wants that wedding, but tom still has concerns. what i hear you, tom, say is one, you are really excited about the responsibility of being a husband and father. however, there is anxiety about the cost of the process. and it is for that reason that you are asking cynthia to consider not having the wedding immediately. it's the white wedding. the white wedding? yes. but if you're like me or any other girl, you want to walk down the aisle and sing here comes the bride. is that a reality for you? yes, that is wh

money. host: bring us back to the history of doing that. who is best known for using a leadership pac? what would viewers were member. -- what would viewers remember? guest: they would probably remember the name tom delay. there was a race probably 20 years ago, a little bit more, for the leadership in the republican conference. bob walker was a republican running to join in and rise up in the leadership. tom delay was there. tom delay had a leadership pac and used it liberally to help other members of congress, and in his conference and their campaigns. that made them beholden to him. robert walker gave $1000 total. he lost. everyone in the house looked at that and said maybe i should get a leadership pac because i potentially want to move up in the leadership. they discovered not only could they use it to give to other members of congress to help them rise in leadership, they could use it for just about anything because there are no rules about what it could be spent on other than it could

and you find that savings rates were very high back then because money would appreciate and money being hard meant that the only way that you would get people to borrow would be through having other people save and so the interest rate had to be high enough to coax savings out of people's hand and the interest rate would drop incidentally and would continue to drop it would drop as a true market signal as a true market price because people are saving more that would lead to lower interest rates and this is really a strain economists bomb beric calls you know the interest rate the best measure of the of the nation's morality that when people are able to be extremely conscious of the of their future they save a lot and that brings the interest rates down in the twentieth century we've seen government money bringing interest rates artificially down so people don't want to say they don't pay for a living exactly it's not if they. are ality we're going to. buy low interest rates because that's our virtuous signaling by keeping it at first if you're not actually saving resources there then yo

to open money permission less money like that coin. now because if it exists a cryptic currency will eventually replace all regular occurrences become the world's only money but can't print a currency is really work for everyone in the world i mean internet connection isn't a permanent thing people in a sri lankan jungle aren't online all the time for instance and have of african people don't even know what a cell phone is to go online. one hundred years ago we asked. what about the places there aren't electricity how will you use an electrical engine then today there is electricity in most places and where there isn't an atrocity there are batteries there are some specialized cases when you go camping when you go hiking when you go survival training you don't have electricity or internet the way you take for granted but overall i don't see it as a long term concern. you won't have access to the internet because we are just as we speak there's a network of satellites being put the internet in every spot on the globe. at top banks trage

he basically gave us money.ou bought from us two things. $1.75 trillion of mortgage-backed securities. the things that became known as toxic assets. it's not like even analyze them. you the banks have a bunch of securities that night can no longer get rid of. then i have anywhere near the value that you said to anyone and that you said. we will just pay full price on them. and that's basically what happened to the tune of 1.7 the other part was that federal reserve created. they did a mini review of the book. they have a drinking game for the amount of times i used in my books. i don't know the case. what happened was they were able to electronically create money for which they received bonds including these in mortgages and the rest of treasury. they are bonds that are created by the u.s. treasury department. we will pay you a certain level of interest in return for you a sickly lending us for a particular term a bunch of money. going back to china. they took us through this process. for which the u.s. governme

in the history of money is that it has progressively taken friction out of money. and the use of bunny and ultimately however the u.s. dollar we have to remember it's backed by men with guns yes now. is our by any chance friction exactly it's a so remarkably stupid thing to say i think it's you know the improvements in payment settlements are not things that governments introduced the improvements in payments technology became because of the telegraph and because of the telephone and because of all the methods of communication and transportation. and governments imposed an imposition on our police on these infrastructures has not to reduce the friction of this like that any kind of government monopoly does not help the consumers because of the dozens of the districts there are choices of the consumers and of the providers so by turning this into a monopoly it does not help the advancement of these things on the contrary it does the exact opposite and the idea that you know having men with guns threatening people with throwing them into jail is somehow something to

is frictionless money. he then goes on to say in the piece that the money is backed by men with guns yes that's what i was going to get into but i didn't really get into this so here he's saying that the evolution of money and we're going to get back to that because i don't believe his evolution of money but he also says that you know the reason why it is a bubble and it will burst is because it's backed by nothing whereas the dollar he says and normal life people don't worry about where the value of green pieces of paper bearing portraits of dead presidents come from we accept dollar notes because of other people will accept dollar notes if the value of a dollar does not come entirely from self-fulfilling expectations ultimately it is backed by the fact that the u.s. government will accept dollars as payment of tax liabilities liabilities it's able to enforce because it's a government if you like currencies have underlying value because men with guns say they do and this means he says that their value isn'

and it's the community's money lenders. so who are these shrewd individuals profiting from their friends and neighbors. you would. need i need i know how do you know. they are. the longest. is the village seamstress but she doesn't spend much time behind the sewing machine trays and. the idea. that they might. have only know. about i was early and if. you want to tell you we are not. how did you did how many are not on. it i mean a lot of. them are down on it yet i'm a bit how do you get my battalion had to do it i said but when. you need my money i do is eat a little acting. now he had a dollar for every need i need i be barbaric. no shortage of people looking for some quick cash money lending takes up more and my daughter is time. that one neighbor that i love and. and i do i did the day that homework. now there is no. one. more. thing really common ground i'll drop in on in she gonna be a. lovely and daughter. and not. in mine i mean are suited. to me and this in. the. town. or not. she has around twenty clients you pay

constitution not to demand hard money or sound money for wages is to be essentially dictating any kind of connection to the constitution united states you're not even living in america at that point you're living in some backwater i just. if we did have a different sort of global financial system and trading system that we probably wouldn't waste our money on these sort of things and i don't think it's very healthy to spend so much of it seems like we're a very unhealthy society of course like we have as you mentioned in for mortality rates and there the mortality rate itself for adults is also increasing so it seems like probably it's a cause and effect there i don't know but i also want to look at this other chart your from wall street the revenues of health care companies represented nearly sixteen percent of the total revenues of firms in the s. and p. five hundred last year which is up from four percent in one thousand nine hundred four when you were working on wall street so that's up four fold that's what it looks like on a chart form. since one thousand nine hundred four goldma

he didn't want to take money from government. i wrote an essay saying, ron, take the money. better that you have it than the government has it. i don't think he did that. nobody ever listens to me. but the point is, if it was ron paul who was running a space thing and he took money from the government and and he used it for this purpose, i would say right on, ron, that's great, because you're a good guy. now the question comes is elon musk a good guy or a bad guy? if he was a good guy, he would be justified in taking money from the government, but if he's a bad guy, he's hand in hand with the government. we go over a whole bunch of elon musk's public statements. and, unfortunately, he doesn't pass the smell test. he is not a good guy. he's not a libertarian. and he recently, after the book was written he came out as an avowed socialist which is not a good idea. not a credit on his blotter. so we do have a chapter devoted to all of these people, and we say if they're taking money from government are they on the good side of the ledger or the bad side? we deal with that in tha

fake money you have fake news and what that's another consequence of having junk money junk food and that means of people by definition are stupid there i choose are dropping like. iraq i don't know about their i.q. because that's one thing but they're perhaps understanding of the world when you mention hard news of course you think of the vietnam war and all the great journalists of that day who were willing to confront power power with the truth and that doesn't happen anymore that definitely i know of no individual like c.n.n.'s jim acosta who's in the you know press pool at the white house he gets his lipstick smeared one day and starts crying uncontrollably on primetime t.v. and wants a bailout from the government i mean think of all the reporters during the vietnam war who are puking when they see a jim acosta in the white house press and then look we haven like a like a little you know i learned finally i want to i want to quickly say the stock market is shrinking that's a problem for everyone the american stock market has been shrinking it's been happening in slow motion so s

i was wondering where the money goes. who gets this money? guest: it depends on the interest. a lot of the money goes to .onsulting lobbyists a lot will go to the pr campaign, whether that is advertising, social media, members of congress or other types of publication. variety of things that has evolved over the years for sure. host: let's go to karen in chicago on the republican line. good morning. caller: this is really sickening to me. there are so many government officials who are just lined up with money from foreign entities. i am thinking of menendez, congressman menendez. mostn, he is the despicable piece of self that i have ever heard of. medicare i do not know if he was involved in a scheme with friends of his from spain, and other countries probably as well, and nobody is doing anything about it. nobody even talks about it, which means to me that there are lots of people involved. maybe the administration -- i but everybody is into something, and i cannot know what is going to happen to this country. now i understand that china is studentsin getting into the united

how your money can make money. places to park your spare cash the most expensive real estate listing you will ever see. $1 billion for a beverly hills address, but no house included >>> and the mom who saw a big opportunity. now she's running a $1 million business and throwing some shade. "on the money" starts right now. >> announcer: this is "on the money," your money, your life, your future. now, becky quick >> we begin with a new prescription for health. it's an innovative medical program to treat diabetes with a healthier diet patients are given groceries each week, fresh fruits and vegetables for free along with exercise and education as meg found out, this meal plan is getting surprising results. >> rita lost 100 pounds but the scales stuck as she couldn't kick unhealthy habits. then she received a different prescription. >> we're standing in the fresh food pharmacy. >> a prescription for fresh healthy food. >> hi, come on in. >> perkins is part of a new program designed to control type 2 diabetes in low inco

you money. in you find out first. in any case, it is illegal. >> the single biggest currency has always been information. in the 80s, that information was trading back and forth and investors were talking to their buddies and they went to business school and actually working on the deals to find out. it was pervasive. >> the securities and exchange commission that monitors abuses said penalties are not strict enough. >> this is serious misconduct and the sanction is simply akin to asking someone to put the cookies back in the cookie jar. >> the biggest insider stock trading case ever. >> investment banker dennis levine collected $12.5 million by getting advanced knowledge of 54 pending take overs and he would call an accomplice who would buy stock in the names of two dummy corporations set up in panama. >> he was able to nail down insider trading and somebody with a million dollar a year salary that apparently was not enough. >>. >> insider trading could be wall street's watergate. >> plea barga

"mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money. my job is not just to entertain you, but to educate and teach. so call me at 1-800-743-cnbc, or tweet me @jimcramer. every night i come out here for two big reasons. the first is obviously i like the attention. but the second and more important reason is i want to help you build and preserve your wealth we live in a world where it's increasingly difficult to become rich if you weren't born that way. and love it or hate it, i believe the stock market is the best ladder we have in this country for social mobility there are millions upon millions of people in this country, but there simply aren't that many jobs that pay you a salary fat enough to actually make you rich, even if you're a total cheapskate and save neverly every penny you earn the truth is if you want to become really wealthy in this country, that means planning you financial strategy for an entire lifetime even if you don't have

the extent to which the money gets shifted from the boosters giving money to the school to those directly to athlete is still the same pool of demand. they must often make the powerful or most often when the national championship is often go to the college football playoff. what would be different if they were making money off of their name >> in terms of shifting the hierarchy i don't think that would happen or that it would alter anything at all. >> they really haven't altered about competitive balance or imbalance for the way some people look at it so i don't think that this one was either. would either. >> for better or worse, there would be a difference based on the endorsement payment based on locality. would there be more alabama football players getting car commercials then say they have developed football players in nashville and is there anything wrong with that? >> you could probably look of locker rooms across the country and they have fabulous facilities and others don't. it's this idea that economists always get teased for making predictions wrong. the first paper was about

earned he takes a lot of money from government. most of his money is from government. it's more like crony capitalism. the money came from you and me on a voluntary basis that is one thing but itself comes from you and me through coercive taxes that's another. in this chapter, we say they're nose wrong with taking money from the government because we regard the government as a thief, because they it coercively and if you take money from. a thief, year good guy. again we have a paradox here but i insist that the government acts on the coercive basis like a gang and if you take money away from the gang, you're on the side of the angels. so the -- ron paul issue think he refused to take matching funds because he didn't want to take money from government. i wrote an essay saying, ron, take the money. better you have than the government. but i don't think he did that. the point is itself was ron paul who was running a space thing me and took -- he took money from the government and used it for this purpose, i would say, right on, ron, because year good guy. now the question

and you find that savings rates were very high back then because money would appreciate and money being hard meant that the only way that you would get people to borrow would be through having other people save and so the interest rate had to be high enough to coax savings out of people's hand and the interest rate would drop incidentally and continue to drop it would drop as a true market signal as a true market price because people are saving more that would lead to lower interest rates and this is really a strain economists bomb beric calls you know the interest rate the best measure of the of the nation's morality that when people are able to be extremely conscious of the of their future they save a lot and that brings the interest rates down in the twentieth century we've seen government money bringing interest rates artificially down so people don't want to say they don't pay for a wedding effect it's. just that it more ality we're going to. buy low interest rates because that's our virtuous signaling by keeping it at first if you're not actually saving resources there then you're

"mad money" starts now hey, i'm cramer. welcome to "mad money." welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job isn't just to entertain but to educate and teach you call me at 1-800-743-cnbc. or, of course, tweet me @jimcramer. anybody who has a high school diploma has almost certainly taken a course in chemistry, geometry, physics probably and a host of history classes and you can graduate and have a deep understanding of quantum physics. you know the one thing they almost never teach you in high school let alone touch with a 10 foot pole in college financial literacy >> i'm not talking economics you can be an econ manager and still no snowinothing about fina planning money is not talked in education. it's like the third rail i want to teach you about every aspect of your money to become a better investor both retirement investor and what i call your discretionary "mad money" portfolio, which is a big reason why i wrote get rich carefully to begin with. most of you, even if you don't own indi

and it's the community's money lenders he gave the money. so who all these shrewd individuals profiting from their friends and neighbors. i know it's. been busy now you would. need i need i know how do you know. the longest. is the village seamstress but she doesn't spend much time behind the swimming machine. and there's nothing i. only know. about i'm always on it and if. you want to tell you we are not. how did you get how mean and i'm not trying to. get out of it i mean a lot of. them are down on it yeah i'm a bit how did you get my drift i had to do it i said but when. you need my money i do is eat a little at the need now get it out as you know see it live you need i need a. good no shortage of people looking for some quick money lending takes up more and my daughter has time. for that one neighbor that i love. and i do and we did the day that he had. me now they are not. so on. or i don't think is really common ground i dropped in on is that i she gonna be in a. loving god if. she do that. or not. and enough. of them and they are suit

of money. and that is the kind of sum of money that people would risk their lives to dig out of the ground. right? and these guys were risking their lives every single day that they went underground in the com stock mine. it was astonishingly dangerous world. i've got a whole section in this book of just like a litany of accidents that i called from just a few years of newspaper reports where any time a san francisco newspaper editor needed some filler, he would look at the com stock newspaper and just either fill out violent items or accidents in the mines, right? and they estimate that one person per week was killed in the com stock mines over the course of the 20 year hay day and that about one serious accident per day occurred. that seems incredible. but then, again, you're talking about billion -- hundreds of billions of dollars that was buried. and maggie in the big bonanza got about one-third of the total wealth. so in aggregate, there was $600 billion worth of money buried under this th

berries money. —— so, there is money. —— varies money. —— there is money.t it doesn't go to go to everyone that it doesn't go to the gps. if it is bereaved person. a gp in scotland fabricated a passionate called m mouse to fill up a passionate called m mouse to fill up his books. all sorts of reports of students being registered multiple times. the front page of the sunday mirror. it is stormy. multiple times. the front page of the sunday mirror. it is stormylj the sunday mirror. it is stormy.” think we have all heard of stormy daniels. i think there were a lot of people, including channel five, that she didn't go into the celebrity dig at brother house. she might have thought she was a bit good for it. —— big brother. thought she was a bit good for it. -- big brother. she says she will testify and she has vowed to tell congress about the sex deal. inside the paper, she talks about what went on, how she met him, she said she barely recognised him and wasn't a fan of the apprentice when she met him. she said that he never said the words you are fired but she

already in soft money we have exceeded the money in 1996 election. there's going to be half a billion dollars in this so-called soft money, let me ask you question, if you bought a ticket to fundraiser of $500,000 is all you're expecting is soft government? the office holders in washington, d.c. aren't for sale, but the offices are and that's why we need to have this reform. yes, yes, sir. >> i was wonder if you can talk a little bit about dichotomy argument for campaign finance reform and if you see a correlation between the two? >> i don't because i believe in both. but i believe that term limits even if we impose them would not prevent the corruption bred by big money. i was talking with the secretary of state bill jones here in the state of california who is close and dear friend of mine, he served in the legislature and he was the republican leader before we went secretary of state. he says that term limits have been good for the california legislature and i think that a lot of people agree with that because of the turnover. more chaos, obviousl

lemonis: how much money does this fair generate for you?harla: my projections for this year are about 70. lemonis: so you'll do $70,000 in business in this one fair, but it obviously costs money to come here... sharla: it does. lemonis: ...bring the trailers here... sharla: it does. lemonis: ...and the labor and... and if it rains the whole time, you could lose money. sharla: if it rains, if we break down, if... a lot of things could go wrong. lemonis: so unlike disney that gets predictable traffic all the time... sharla: predictable, doesn't set up and tear down, easy. lemonis: ...this is harder. sharla: this is hard. lemonis: yeah. sharla: this is hard work. lemonis: sharla's popcorn is the real deal, and it's easy for me to see how i can help her build her brand and make both of us a lot of money, but before i do, i need to see the rest of this operation and determine if she's willing to make the kind of changes necessary to take this business to the next level. are you kidding me? this is ridiculous. amber: it's awful that her cash is o

news hard money you have hard prices and hard news when you have fake prices and fake money you have fake news and what that's another consequence of having junk money junk food and that means that people by definition are stupid there i choose are dropping like a rock i don't know about their i.q. because that's one thing but there are perhaps understanding of the world when you mention hard news of course you think of the vietnam war and all the great journalists of that day who were willing to confront power power with the truth and that doesn't happen anymore and that definitely i know of no c.n.n.'s jim acosta who's in the you know press pool at the white house he gets his lipstick smeared one day and starts crying uncontrollably on primetime t.v. and wants a bailout from the government i mean think of all the reporters during the vietnam war who are puking when they see a jim acosta in the white house press and then all of behaving like a like a little you know and then finally i want to i want to quickly say the stock market is shrinking that's a problem for everyone the ameri

and it's the community's money lenders. so who all these three individuals profiting from their friends and neighbors. have. been below you will. need i need i need how do you know. they aren't here. to tell you is the village seamstress but she doesn't spend much time behind the sewing machine. my leg would need something like. yeah we know. about i was early and if you want to see if you want to tell you where you are now. how did you get how many times. i'm not down on it yet am a bit how did you get my drift abbotabad to do it i said because. you need my money i do is eat a little acting. now get it out as you know is it live you need i need i be barbaric. with no shortage of people looking for some quick cash money lending takes up more and my daughter is time. that i want to give her that her love and. and i do i know you did the day that he had. me yeah now they are. so on. really common ground i'll drop in on is that i she gonna be they. were lucky and got a. notion to do that. and not. that much i mean are suited.

versus our money that people will continue in a job being paid money that loses purchasing power every year the u.s. dollar losing over ninety eight percent of its purchasing power instead of taking a breath taking a step back and demanding sound money as it's stipulated in the u.s. constitution not to demand hard money. some money for wages is to be centrally dictating any kind of connection to the constitution the united states you're not even living in america at the point you're living in some backwater i just think if we did have a different sort of global financial system and trading system that we probably wouldn't waste our money on these sort of things and i don't think it's very healthy to spend so much of it seems like we're a very unhealthy society of course like we have as you mentioned in from mortality rates and there are the mortality rate itself for adults is also increasing so it seems like probably it's a cause and effect there i don't know but i also want to look at this other chart year from wall street the revenues of health care companies represented nearly sixte

money man talks. the president's inner circle is looking more like a semicircle adds one ally after another pulls out. now, the chief financial officer of the trump organization the man who knows the secrets of every deal is granted immunity. >>> pulls the plug. citing a lack of progress on denuclearization. why is the president sending warmest regards and respect to kim jong-un? >>> battling sessions. as the president privately gumbles about firing attorney general jeff sessions and mocks him publicly in a series of tweets, sessions is finally hitting back. do the president's attacks only make him look weak? >>> discontinuing treatment. senator john mccain's family said he's decided to halt the treatment in the fight against brain cancer as politicians praise his service, his heroism and his friendship. >>> i'm wolf blitzer. you're in "the situation room." >>> breaking news. another huge crack in the crumbling wall of loyalty around donald trump. the chief financial officer of the trump organization,

money goes where there's money to be made. and without direct foreign investment the world economy would come to a standstill. inflation is set to top one million percent in venice way this year the government's issuing new bank notes slashing five zero zero off the beleaguered bolivia is uncertainty about whether that will work many venezuelans a stocking up in advance the government's also announced a minimum wage hike of three thousand percent most businesses won't be able to afford that the situation is desperate around one and a half million people have left the country and the stories we keep hearing are disturbing. my nephew was seven years older than my my sister was driving her car at me that day and the stop light and then came to my nephew's window and not that i thought window and pointed a gun to his head in order to rock my sister these is happening a lot in vince will every day i can not believe in a place i can not let my my my children grow in a place like this. my name is kind of you know this kid and we have

"mad money" starts now hey, i'm cramer. welcome to "mad money.come to cramerica other people want to make friends. we're just trying to make you some money my job not just to entertain, but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. everybody is fretting that companies with big business overseas will soon see their

is frictionless money. he then goes on to say in the piece that the money is backed by men with guns yes that's what i was going to get into but i didn't really get into this so here he's saying that the evolution of money and we're going to get back to that because i don't believe his evolution of money but he also says that you know the reason why it is a bubble and it will burst is because it's backed by nothing whereas the dollar he says and normal life people don't worry about where the value of green pieces of paper bearing portraits of dead presidents come from we accept dollar notes because of other people will accept dollar notes if the value of a dollar does not come entirely from self-fulfilling expectations ultimately it is backed by the fact that the u.s. government will accept dollars as payment of tax liabilities liabilities it's able to enforce because it's a government if you like currencies have underlying value because men with guns say they do and this means he says that their value isn'

money.jected the pay raise for state officials in 2017. he is the only statewide official who turned the money down. he led the fight against obamacare in the montana senate. this year, send a trump republican to the senate. quest for growth is responsible for the content of this message. the: bringing up pro-affordable care act, protect our care is out with a new ad targeting republicans over the nomination for brett kavanaugh to the supreme court. >> this woman has cancer. she is worried about side effects like hair loss, nausea, bills, even losing her home. now she has even more to worry about because president trump has gone to court to strike down protections for pre-existing conditions including cancer and he is pushing for a new justice who could go with him and overturn protections. she is already fighting for her life. she should not have to fight to keep her health care. tell senator collins to vote no on brett kavanaugh. host: taking your calls the next 15 minutes on this question

here looking at the money. analysts believe venezuela's in place and right could hit one million percent by the end of the year action is therefore desperately needed but as long as the petro isn't accepted on international markets the prospects of a new currency tied to it don't appear to mosey either. shares an electric car make a test or fell sharply early in the session following reports that the major backa seeking the company private was pulling out the saudi arabian sovereign wealth fund the chief executive you know last has said it could help fund a privatization deal is now in talks to invest in rival lucent notice she has rebounded later on monday but a still down more than twenty percent since musk tweeted his plans two weeks ago say he has secured funding u.s. securities regulators reportedly probing the veracity of that and other claims to check in with our financial correspondent so fisherman skee she's on wall street for us sophie seems like investors have lost faith in you know moscow is the lat

then the money that you get to see we are hoping to generate and create more money than just the scholarships. >> there is also a question about what the actual educational opportunity they are getting particularly in men's basketball. we know the spending 40 plus hours a week in season and out of season and we are counting and there's plenty of scandals we talk about, so when there's a discussion about getting returned for playing, they get a meaningful education maybe not every instance they have so we will make sure they do get a meaningful education. how is that not implicit? but for not even getting a meaningful education tha then wt are we even talking about. we know if we look at the northwestern situation. this created to avoid the workers compensation clauses. i skipped class to do community service and that is illegal. i didn't know that. >> i think this shows i will go to generate money for my schoolinmyschooling and that's i missed the whole week of classes but i missed one class, a summer class and i had an ageist for the record to go with do community service and i was going unt

you expect to make money in them. this is something where over long periods of time you'd expect to lose money. you're buying insurance and it's pretty expensive. we believe that it's extremely difficult to protect exactly when this protection will pay off. and it's much more important to focus on getting that required rate of return to 7.5% or whatever it is. this is an expensive type of protection. >> can you just walk us through the table here on 5.5? >> sure. so we're looking at $10.2 billion of global public equity in the portfolio. and we priced how much it would cost to protect against a 10% -- or 90% draw down protection. so 10% -- the first 10% of losses you wouldn't be protected from but everything beyond that 10% you would be protected from. so if the markets fell by 15% or 20% or 30%, then the cost of this contract -- you'd have a benefit, you'd have a gain at the end. but you're not projected in the first 10% move. and the cost of this protection in june of this year for the next 12 months was about 3.4%

then we had to have money. or in my head they didn't know but if you've been with my birth i feel like giving you the medicine maybe you come by with the money maybe some of them don't come by with the money. three kilometers away on land that once belonged to an airport is the headline ican clinic people can come here when they don't have enough money for their medicine when the clinic was founded in two thousand and eleven it was intended to help the thousands who had lost their health insurance when they lost their jobs but today it sees more pensioners and the chronically ill this man has diabetes. but even then if. i did get die again as i don't have enough money to live and now i need very specific drugs but i can pay for them with their own no an examination room is available for the most important cases now in august it's filled with medicines to be distributed donations right here daily from across europe. from cancer medicine to baby food. everything needs to be sorted and labeled more than one hundre

i could use that money. no one has ever paid my except the people who buy my book and thank you readers for buying my book. i've been hearing this since the clinton era, being funded -- kept checking my mail box, hoping for that check to come through. i don't know wife it's comforting for liberals to think this. they apparently don't want me writing books. i definitely picked that up. but sorry that's what i do for a living. i'm not saying everyone is writing books. most of the books -- my very first book, high crimes and minneapoliss which i came on c-span -- i like you tweeted that photo of me in 1998. my publisher called me and said when it -- it wasn't the first un -- the second one, slander, said congratulations you're not only are are you on the best eller list but the only person who wrote her own book on the bestseller list. i've been trying to get in the "new york times" for years to -- they have all those differently is. hard cover, paper book, i would like a list for authors who wrote their own bo

valued at certainly level if you show it you will lose money? even if you want to do that from the standpoint of china, if they decided for some political reason to sell all the treasury bonds, a large portion of treasury bonds would be shooting themselves in the foot economically that is why they are not doing it why they on the won't do it might buy less neuter that is more an economic decision if you think that the country inhere ently might see another crisis from financial system has not rectified whatever in the future you just want to simply be hedged protect yourself from risk of that might buy less going forward as percentage what have we have outstanding the amount of debt outstanding but you are not going to dump treasurys, i think said something about dumping treasurys recently but doesn't own a lot of treasurys, and so the impact to them and to the world, just from a sheer price level, would on treasury bonds would be valuable and biger countries aren't going to do it for their own sake. >> hi very interesting, we talk a lot about c

to take delivery of one hundred tons of gold but if they're making a ton of money lots of money out of them could be worth a few billion yeah and you can collect that billion when you cancel out that contract it's almost like oil like i can trade oil contracts from my living room in new york just this is only as i can trade gold contracts in short oil like and long or oil i was a day trader in the futures market just from my house as an individual and the exchange you know was i can't they one futures contract on the oil is a thousand barrels of oil they know i have no ability to accept delivery of a thousand barrels of oil in my one bedroom apartment in new york city they know that's not going to happen they also know i have no ability to deliver a thousand barrels of oil because i'm living in a manhattan apartment to know my address so they will make sure that if i don't sell my position on my own a week before maturity they will sell it for me and they do it the same way for others they are matching people up you know you of just the bane of the lambo buying crowd you know becaus