the new europe bank is shocking for position itself. more power because of where it's located.that ran counter to what the framers of the federal reserve act were hoping for, but reality being what it is with the financial markets of new york. now back to edison. he starts layering it, looking at it, realizing it's very complicated in understanding the ticket into practical support for major change, he's not going to be able to cast federal dollars. using cold and gold that money is a mistake, but he also realizes he's got all of the business and all the international business community running uncle. you can't just have to wake up one day and say regime change coming in now, we're going to something different. so his attempt is to draft on a plan to help farmers to stabilize their income and hope that through time it grows evolutionary and becomes kind of pushes gold out. so rather than throw pulled overboard, he is going to grab onto other commodities in order to help those producers in the same way the government implicitly helped the gold producer. euro gold miner you can p

the market is gyrating, reacting to news, europe's bad, sell off, europe's good, go up. we had a couple of good days of news in europe and the u.s. i don't think we can say we're out of the woods yet. >> what will make us out of the woods? anything on the horizon, adrian? >> a lot of investors are looking for stimulus from the fed or ecb, particularly the fed. i i had hate to invest based on the fed may or may not do. we have had a rally in the market, 100% since some years ago, there are good rallies with companies selling at good prices. >> like what? bring us through those. >> in the u.s. we like high dividend stocks, business development companies, small businesses and don't pay tax at the corporate level and high yield yields,airies has an 8% dividend yield, and in asia we see good small companies with growth, kingsman, kim in singapore. it makes designs and exhibits for museums, for shows, stores. yields 5.6%, trading at only eight times earnings. these are good values, no debt. >> still going for dividend plays. thank you for joining us. we have near micayla wite k

right now in russia has been known around the world we've been in that the states in britain in the new europe and now the movie is hitting the russian market and this also has through the russian german and english so if you want to improve your language you can do it. and of course you can get a lot of questions and a lot of answers from those the commissioner which is really exciting on the just for comment i hope it's good improve my boxing to thank you guys are saying thank you very much guys for being with us and just to remind my guests on the show today where there. is the most famous boxing family in the world and that's it for now for all of us with you if you want to add here same spot or have someone in mind for you think i should intervene this time to drop me a line at at. and let's keep spotlight interactor will be back with more for it than common thought of what's going on in and outside russia until then they are and take it. to. the.

and now check out the equity markets will start with what's going on on a new europe and what we're seeing there is a pretty upbeat picture higher metal prices help the miners on the footsie and germany the banking sector is outperforming on the dax the u.s. futures point to a higher opening on wall street in a few hours so that adds to the general optimism the traders anxiously anticipate the speech by the fed reserve chairman ben bernanke he later in the day for the most support part of the markets are not expecting any monetary easing but they are looking for some clarifications one of european union's few growth stories poland that is feeling the squeeze of the downturn the country's secular growth eased to two point four percent the lowest in. about three years and significantly below the forecast poland's g.d.p. kept expanding over the past two years while much of the e.u. showed negative growth but a series of gloomy economic indicators show that the so-called economic miracle is coming to an ad. now checking out the russian equity markets so far so good pretty i'll beat the r.t.s.

new. europe's premier economies greece's hopes for more time to implement cuts while athens the lashes out of germany demanding it to stop spreading rumors of its imminent hero exit. and the un's nuclear watchdog or news talks with iran over its just putative tomic program which the country claims is purely peaceful next r.t. talks to dr called reach amil syria's wise prime minister for economic affairs he has his say on how a cease fire and lasting peace can be reached. they're joined by dr corder hegemony are serious vice prime minister for economic affairs and then become. the let us start over visiting your is a news conference where he says the basic principle that must be observed for any kind of dialogue to be possible in syria you named the present was and then has still it is and refraining from foreign interference and on is there anything else you know. of no there are only these two principle ours which should be enough if we were to agree on these two principles all other issues would become technicalities despite a contradiction is assumed and we would be able to reach an agr

some news to bring you coming out of europe. breaking news, in fact.k is considering setting yield band targets under a new bond buying program. this is being reported by reuters. the ecb was trying to cap the yield on sovereign debt in spain and italy. this is all trying to write the financial problems, runaway financial problems, and europe. let's go to lauren simonetti. lauren: we saw the markets spiked to session highs. 13,142. we are here with mr. willis. what exactly is the target? >> the belief is that the ecb will attempt to put a cap limit on how high they will let the bond price. the market sells off when spain had 7%. the idea is to keep that at a certain level which would require buying bonds. lauren: and absolutely move the market. >> absolutely. all they did was flash the idea of a bazooka. we have not seen it yet. most professional traders are looking to short this market. this caught them. i do not think we will stay here. lauren: thank you, mr. willis. we knew about this. here we go. we are at the highs of the session because of anothe

or the bad news is going on in europe? >> well susie, of course we've got to be paying attention to all of it but i think the number one thing for investors to focus on is opportunity. and the opportunity that comes when prices are weaker. the reality is, this has been such a tough year, the news flow's been really discouraging and yet, through last friday and it's pretty much the same through today, the s&p 500 is up over 13%. it's the second best year-to-date return in the last 15 years. and that in a pretty weak environment. >> susie: but you talk about hope and despair and right now investors are hoping that central bankers in europe and policy makers at the fed will do something to rescue the global economy, take some sort of action. what if they don't. now that's the despair pot of the equation. ipart of the equation. what is that going to mean for the market. >> i suppose if people are expecting it and the central banks don't dlifer then there will be some despair. that's break things apart. in the case of the u.s.,

washington mutual was not a new europe bank -- new york bank.t there is this how the part in the new york branches. as for the regulators throughout the real power don't care. she let there wants to shut it down and meanwhile something interesting is happening in new york with rumors that started at least a bank shot. >> you can call it a jog, guess. politics becomes a very important issue. kerry killinger had never made a priority of the net relationships in washington d.c. he never did. since wamu it did not have any friends. meanwhile bankers like jamie diamond who considered it their seventh line of business. so wamu suddenly finds itself even after it raised all this money in the summer of 2008 in the middle of a panic situation. you all may remember we saw those pictures of the lines around the block and people pulling out their money and it was like it's a wonderful life and how could this happen and everyone panicked. what no one knew is that wamu suffered a wound that was far bigger and they did it very quietly. no one knew about it at

typhoon killed twenty three in the philippines news ok let's catch up on the business of bad news for europe as well more not great news anyway dimitris their last disappointment coming today from super mario d.c.b. chief yeah that's absolutely right everyone was expecting some kind of hint as to what these would be would be doing right now in order to save the euro just a couple of days ago we heard mario drag you super mario say that everything in its power at the e.c.b. would do in order to salvage the euro but apparently nothing nothing so far has been announced that has been a sheer disappointment to the markets well campbell from london capital group says this is because easy be pretty much lax tools to act right now. the most important thing about the e.c.b. and its current mandate is that it does not have the same sort of powers of other central banks like the federal reserve or the bank of england it is very restricted in washington can do it hasn't specifically got the power to really do you full blown quantitative easing and it's the likes of germany the paymaster of europe who ar

what happened last year has been a beneficiary of a bad bit of news in europe. the fiscal cliff is still there. the u.s. still needs to sort out the dramatic and deafening deficit and if it doesn't, the market will reap its advantage. >> what are do you think of the comments about warren buffett and he said america is aaa in theoryy aaa in omaha? is he right? >> of course he is. look at the manufacturing numbers and the way in which the economy is creating jobs. all right, the latest numbers are not as good as they would like, but they were better and they showed a trend. the u.s. most definitely has picked up speed and not as fast as people would like, but better than on my side of the atlantic. >> what are is the real indicator for how our economy is doing? >> as well as can be expected bearing in mind the awfulness elsewhere. that's really the classic definition of faint praise, if you like. you know the old school report, could do better with a bit of hard work. that seems to be the sort of thing we are talking about. the real risk comes after the fiscal cli

there's also been encouraging news from europe. that pushed the dow to a three-month high yesterday. the dow gained 21 points. the nasdaq was up 22. >>> well, the lull in the cost of gassing up is over. gasoline prices are heading back up. 14 cents a gallon in the past week. national average is now at $3.65. and that is the biggest one-week jump in more than three years. the midwest was hit the hardest with an increase of nearly twice as much. that's thanks to a pipeline that's now out of service. >>> but some good news to pass on. airfares are coming down, as the major carriers back down on last week's fare hikes. ticket prices have been going up steadily all year. but this time, the airlines may have been spooked by signs of less demand. they may try again next month to see if increases will fly. >>> detroit almost had a challenge from silicon valley. it's been rumored that steve jobs wanted apple to design an i-car. now, we know it's true. it's one of the secrets that apple is spilling in its patent lawsuit against samsung. inst

europe stoxx 50 -- euro stoxx 50 slightly higher. the dow jones in nework in negative territory but just slightly. the euro trading at $1.3231. the world's leading luxury-car maker, bmw, says it expects record earnings this year, despite a 20% slump in second quarter profits. >> the munich-based company said net profits dropped to just under 1.3 billion euros, compared to almost 1.8 billion at the same time last year, but bmw said that revenue rose to over 19 billion euros. the company saying strong demand in asia and the u.s. are compensating for losses in europe due to bad debt crisis. business is also going well for the german consumer goods group henkel. the company reported strong second quarter results despite falling sales -- you guessed it -- in southern europe. >> the company says the greatest growth of this came from the emerging markets. the result was also boosted by price rises. the company increased its outlook for earnings per share in 2012. >> all right, in a moment, we will be taking a look at germany's efforts to replace nuclear energy

the news out of europe caused investors to dump stocks. dow lost 92 points, while the nasdaq was down 10. the house voted to extend disaster assistance to sheep and cattle producers hit hard by the drought. the $383 million measure restores four aid programs that expired last year. critics of the legislation say it falls short of a proposed five-year farm bill. >>> it's a tale of two car giants, one in the fast lane, the other trying to keep up. overnight, toyota reported a $3.7 billion quarterly profit. the car maker says sales from april to june rose 60%. meanwhile, general motors' growth has stalled. gm's second quarter net profits fell 41% due to a slump in european sales. >>> from the attic to the auction block, a century-old baseball card collection brought in quite a haul last night. a selection of 37 cards sold for more than $566,000. the cards were tucked away in the attic of an ohio home for 100 years until a family found them back in february. there are more cards to be auctioned off over the next few years and the entire collec

news" agenda? >> the greek situation for germany and for everyone in europe is uncertainties. because we don't know exactly what will happen. every day, every week we have new data, everyone wants greece to be inside euro, to be kept inside euro. at the same time everyone say well, you have new constraint, new constraints on europe, on the greek economy. so we don't know exactly what will happen. in that case it leads to larger uncertainty, not only for greek people but also for europe because we can't imagine that greek, that the greek economy could improve with such constraints, and we're waiting for the troika report at the end of this month and probably the recommendation will be tougher saving for the greek economy and in that case it could lead to greek uncertainty and we don't know what will happen in the euro area for the coming months, and it's something that is problematic for companies. >> let's leave it there and move the conversation on. patricia thank you for updating us with those ifo figures. philip will stay with us for a little bit longer. further details then

it is not just bad news out of europe. that's a major risk to your portfolio. we're searching the globe for hot spots that you should be watching right now outside of europe. we're trading all the big movers today with stephanie link, brian kelly, simon baker and mike murphy. let us get right to it. stocks rather struggling to hold onto recent highs and these comments from st. louis fed president james bullard earlier today on cnbc, certainly didn't help. >> 2% growth, maybe a bit stronger in the second half of the year, unemployment ticks down through the rest of the year. that's not a great outcome but to me that's a good enough outcome to keep us on hold. i think markets have the idea of some giant action. i am not sure the data really warrants that. >> james bullard throwing some water on the qe3 fire, so is it time to get short and if so, where would you be doing it? john how scott handles things but for me it is always ladies first. take it away. >> thank you very much. i wasn't really very surprised by the comments this morning because if you look at som

why do we create some many new companies from western europe or japan? the reason is the diversity of our capital markets. bain capital gives good returns public pension funds are the biggest it is oury to ability to get things to enable us to get 50% higher growth rate. look at europe. take the american bank 1.4 trillion dollars.number is with europe it is 6 trillion. that mes is t hhose but have commercial paper merisel the one in europe but that means it europe is top heavy with the ar bank.e that wha you don't have the been sure capital history. so it is part of a bigmpa. company year have beenge microsoft and apple. ok a look what was emerging er charles schwab and fedex anddexd others capital system could c nurture them. largest europe grows at 2% we grow a at 3.5 because we have the ability of capital markets to adjust. then may get the new instruments that come in and that tried to make money off of it it is not needed anymore. >> host: is it time to endmon the post office monopoly?head o >> and there have been ahead of us.fice. fedex symbolizes

breaking news, europe's markets are closed. how did they do, ashley?shley: well, for the most part down dagen. the latest purchasing manager's index out of europe showing that the euro region could be headed for recession in third quarter. the latest prediction showing the economy contracting 1/2% which would be by the way the worst quarter in 3 1/2 years. this weighing a little on the european markets. at the closing bell, let's take a look. the ftse in london have been flat all day, pretty much stayed that way. cac in paris down about 1%. same story on the dax in frankfurt. french president in berlin today to meet with german chancellor merkel as the two biggest economic powers in the euro zone rye to determine what should be done -- try to determine what should be done. the german leader will then meet with greek prime minister tomorrow in berlin who will be there to ask for more time to carry out reforms and spending cuts. now ahead of that meeting, germany's finance minister says giving greece more time will not resolve the debt-ridden country's p

. >> i'm taking a little bit of new york and europe and other parts of the world with the outdoor living culture and bring it to japan and educate that is it a good thing to live outside on your veranda. >> reporter: originally the main focus of his business was design. after the accident at fukushima daiichi triggered energy shortages he started thinking about conservation. that caught this woman's attention. this is what her veranda looked like last summer. but after a little sprucing up -- it now looks like this. equipped with a wooden deck, small planters and an outdoor dining area. the idea is the same as traditional japanese methods. the deck absorbs much less heat than the bare concrete and watering the plants cools down the space decreasing the need for air-conditioning. he says he is not only seeing a difference in his electricity bills he has a newfound appreciation for the outdoors. >> translator: before, i didn't even want to be near my veranda. but now, i try to spend time out here, any chance i get. >> reporter: whether it's sprucing up your home with a total makeover or re

. >> what i'm trying to do is take a bit of new york and europe and other parts of the world that have the outdoor living culture and bring it to japan and educate japanese people that it is a good thing to live outside. >> reporter: jennings said originally the main focus was design. after the accident at fukushima daiichi triggered energy shortages, he started thinking about conservation. that caught his attention. this is what fukumori's veranda looked like last summer. an empty pace with burning hot concrete that he only used to hang laundry. after a little sprucing up. it now looks like this. equipped with a wooden deck, small plantars and outdoor dining area. the idea is the same as traditional japanese methods. only it is done in a modern way. the deck absorbs much less heat than the bare concrete. watering the plants cools down the space. it decreases the need for air conditioning. fukumori says he is seeing a difference in electricity bills and he has a new found appreciation for the outdoors. >> translator: before i did not even want to be near my veranda. now i try to spend

. >>> overseas stocks rallied on signs of new action against europe's debt crisis.okyo's nikkei gained nearly 1% while hong kong's hang seng added a fraction. >>> on wall street, stocks were quiet after last week's turbulence. the dow was up 21 points while the nasdaq gained 22. >>> one stock that did move well was best buy. on monday, the store's founder offered to take the chain private. richard schulze offered between $24 and $26 per share. best buy is trying to avoid the state of rival at prominent retailer circuit city, which went bankrupt in 2009. >>> gibson guitar will pay a $300,000 fine for illegally importing wood from overseas. federal agents raided the last year. by agreeing to the settlement, gibson will avoid criminal prosecution. >>> and if you ever need a cupcake on the run, an illinois bakery can certainly help you out. sprinkles cupcake shop installed a cupcake atm on the patio of its bakery. anyone with a sweet tooth can swipe their credit card and grab a cupcake of their choice. the machine can hold up to 500 cupcakes at a time. that sounds like

higher this morning after stocks closed down across the board on thursday, once again off of news out of europe. european central bank president failed to take immediate action to contain the debt crisis, disappointing investors. the dow dropped to 12,878, the nasdaq falling 10 points to close at 2909. hopeful markets watching the all important jobs number due out this morning at 8:30 a.m. eastern time. economists expecting to see 95,000 jobs added in july versus the 80,000 in june. the question of the day, are the iphone 5 rumors true. the buzz fueled by sharp, the company said it's going to start shipping screens for the new apple iphone later this month. according to reports the screens will be thinner with new touch screen technology. apple is expected to release ahead of the pre-christmas shopping season. >> they are wise about timing. thank you very much. >> i keep breaking mine. second one. >> shatters like every week. you're hard on things. >> i must be. >> triplets chew on it. >> i can't blame them on this one. >> good morning. we have a great looking weekend shaping up. temperatures a

. >> bad news out of europe just keeps on coming. eu economic sentiment index falling to the lowest level in three years. germany's unemployment claims rose for the fifth straight month? the chief economist at mesereau in chicago has a few ideas. thanks for joining us. >> good afternoon. sandra: all this bad news coming out of the economic confidence falling. bad news. german unemployment rising for a fifth straight month. how long can this really go on like this? >> well this has been going on for quite some time. i'm afraid we will continue to see these unfolding crises until we see some true leadership coming from the european political leaders. i've been arguing thir a while. it is all about the politics. they really need to accelerate and keep in mind the goal of the effort to improve the situation should be. sandra: you mention it is leadership it will take. on one hand you have german chancellor angela merkel screaming austerity. then you've got french president francois hollande talking about spending more. where do you fall

we have had negative news with europe, and everyone is looking for this very slow growth environment, but here, we're finding growth opportunities left and right. so, you know, the market can correct, and i expect it will at some point, but we would sure be buyers. >> lincoln, do you agree with that assessment? >> i don't think it's anything amazing about equities moving higher when yields are at 1050 or 1060. i mean, clear market signal from the bond market that things are not okay. that it has become one big relative value trade, and our concern is that it could come off quite violently at any time. bonds are very much suggesting caution. >> what chatter about mario draghi dropping out. he has a heavy work load. we already knew about that, but the feeling is maybe they're up to something and that something of substance will come out of their meetings in september, what do you think? >> i think that's the right interpretation, bill. i think what's happening with mario draghi and his negotiations is frankly far more important than what ben bernanke may or may not say in jackson hole.

mainly thanks to the vacation season being in full swing and also gone from any substantial news coming from europe expecting a lot of data on the u.s. economy due out later on thursday that includes july building permits weekly jobless claims and a business activity survey. moving on to the currency markets let's see what's going on there the dollar as you can see is easing against the euro at the moment to though it's pretty much what i already mentioned that it's reached a one month high against the japanese yen on wednesday the russian move will and the ones they session recur to the dollar but stronger to the european currency will bring you the latest as soon as the russian markets reopen in less than two hours time and here's how they ended the previous session with a loss says it was a bit of a. correction following the pretty bullish start of the week roughly one percent each for both the my six and the r.t.s. of those of my six lost a bit less crude is still gaining after endings and when the ones they session at the highest level of three months that's on the u.s. energy department repor

. >> breaking news out of europe right now, dutch media is reporting that a passenger plane as possibly been hijacked on route from spain to amsterdam. according to the defense ministry the plane was escorted to the city's main airport by two f-16 fighter jets and a local media website reports that the plan is feeling. no further details but we will continue to watch mtv updates. stock futures are mixed ahead of today's opening bell >> a few moments ago knows what repercussions that is having on wall street. >> time will tell, they are mixed right now. it was a light trading day for overseas markets this morning. the nikkei gained half a percent wild and sen lost a fraction. wall street stocks ended flat on a mixed economic news. nasdaq gained almost 4 points. investors hope to find out what the federal reserve bank plans to do about the sluggish economy when ben bernanke speaks on friday. he could announce new measures to counter sluggish growth. united airlines is recovering from huge delays and several flight cancellations. passengers faced long lines at several airports monday. at l

street due to the vacation season being in full swing and also the lack of any substantial news coming from europe a lot of data is due out on thursday including july building permits weekly jobless claims and of business activity surveys so we will definitely keep you posted on all about moving on to the currency market the dollar this hour is strengthening against the euro i already mentioned that it reached a one month high against the japanese yen on wednesday the russian ruble finished wednesday's session weaker to the dollar but stronger to the euro will bring you the latest as soon as it reopens of less than one hour and here is how the russian equities finished wednesday session a losses. bit of a correction there following a pretty bullish start of the week roughly one percent d.h. for both of my sex on the r.t.s. with a lot of losses were more modest on the my sex crude it has just slipped into negative territory over the past hour after ending wednesday's session at the highest level in about three months that's on the u.s. energy department report that showed a larger than expected dro

the ruble on the greenback as well on the whole old price by violence in syria report finds new calls in europe have skidded significantly due to the crisis italy and france are the worst hit by contrast the russia cause selves accelerated fourteen percent this year as the country's economy continues to grow the e.u. very juicy returns have been promised for investing in russian infrastructure that money just say pumping money into new toll roads hospitals and airports will bring over twenty percent annual returns something most investors dream about renaissance as russia's government businessmen will raise national g.d.p. from four to six percent by buying into those products projects. twenty billion dollars has been wiped from facebook's value in four days as the new stories keep coming the sister of facebook's co-founder has moved to google fresh lawsuits accuse it of encouraging ordinary facebook users to invest while holding negative earnings forecasts mark zuckerberg is now only the seventy seventh richest man in the world and europe today we'll have more for you next hour i think for abo

maybe that is one reason why today she was out launching a new campaign called "i want europe," supposed to be talking up membership in the eu, and that could prove very important for angela merkel in the coming months. >> thanks so very much. things may be looking bleak for the eurozone as a whole, but german tax revenues are surging. berlin's public finances are back in the black in the first six months of this year. >> that is even as europe's biggest economy begins to feel the effects of the debt crisis. new figures showed germany's budget surplus of over 8 billion euros. >> while other euro countries struggle with huge deficits, the money is pouring into germany treasury. in the first half of the year, the government took in more money than it spent. the surplus was due to a strong labor market and steady consumer spending. payments into the retirement and unemployment entrance programs were especially strong. after seeing a budget surplus in the year 2000, germany's fiscal situation fluctuated. in some years, new debt reached 3% of the gross domestic product, violating the stabilit

out the equity markets and let's start with europe which is all in the red as you can see i'm not no surprise centering that we're hearing all those negative news coming out of europe namely the german unemployment data that just came out over the past hour of increased for a fifth straight month in august though was a bit lower than expected and of course all the bad news for spain as well and u.s. futures are pointing to a lower opening on wall street in a few hours and then the european currency is managing to gain to the u.s. dollar is the sour rebounding from wednesday's losses the russian ruble in the shedding value to the current at the moment and equities here in russia are mixed. this hour the r.g.s. is a shouting around a quarter percent or more than not but then my sex is recovering it has jumped to above the line trading slot chute positive asian equities were trading lower in tokyo the name came close down around one percent of weaker than expected retail numbers hong kong's hang seng is even deeper in the red plus a lot of investors are staying on the sidelines ahead of the much anticipated speech by the fed reserve chairman ben b

news of europe and the fed, as well.ing a little bit of strength in the euro and meantime watching platinum prices at the highest level or hit the highest level since early may on the south african unrest. a trader saying 2012 surplus could be hit in half and market balance could be the deficit continuing to see unrest in south africa and copper prices today pulling back after hitting a one-month high. we had positive usda that and also that bhp decision to hold off on projects providing support to copper prices. the big move is platinum. back over to you. >> down here we're off the earlier lows and trading to the downside as you can see on the screen. mary thompson with the very latest. >> the waiting game continues. fed minutes out in about 35 moneys or so, simon, so investors waiting for that. this has kept the markets in a fairly narrow range today. weighing on the markets is continued concerns about the euro zone and pressure to the markets, comments of the white house after the cbo report talking about the fiscal c

host: in an article yesterday from bbc news europe, police have small -- have spoken out a factory usedy mussolini in the 1930's. there were special chambers for drying and processing the crop. we are focusing on nogales. let's bring in tyler, you are on with mr. higginbotham. caller: it is like this issue is the headline issue. they do number novartis of its about the parent -- they do not bring in any specifics about the parallel industries, like smuggling individuals or other items. do they know if they have had an impact on that industry? guest: those things are outside the scope of my reporting on this. i was focusing exclusively on the drug smuggling titles that are being used on the border. i do not think the tunnels are being used for any other kind of contraband or for human trafficking. the risks for the cartels are not worth it. host: can you talk a little bit about the structure of these tunnels and how they are run? you get into your article a little bit about the franchising opportunities on the other side of the border for people who actually run these tunnels. guest: the

even the good news about europe makes people think that there is more demand and that's going to push much more are we expecting families are going to have to pay over the labor day. >> we think people are going to spend $749 over the labor day weekend. i will not be one of those people. up 702. 85% plan to travel by car. also hotel rooms four to 6% higher. seeing higher prices across the board for travel right now. >> shepard: make it a happy labor day anyway. >> i love labor day. not laboring on labor day. >> shepard: some of us will be laboring but it will be great. a guy in california captured a dramatic close encounter just off the coast. look at these pictures. a giant humpback whale. see that sticking up out of the water. notice the whale's mouth is longer than that guy is tall. the photographer is a guy named bill bouton. the whales came to shallow water to snack on sardines. at one point he saw a pell kin fly right into the whale's mouth. that was an error. it took the bird under water then swam back to the surface and spat that pelican. whales off st. louis. guess who else w

you know this also feeds into this whole a lot of the rules in london buses or the rules in new york or europe and so i think getting a grip on exactly what goes on is very very tough but it's interesting to hear that people who would purport to suggest that the existing system is acceptable. or willing to also state the well yeah i mean it's not really a property deliverable market if you own an allocator you don't really own it and this is the situation i mean i would reiterate what i think i've said probably on your show before which is if you're a malaysian hedge fund manager and you own ten million dollars and for whatever reason you've ended up on allocated rather than allocated i'm pretty confident those people as mr christian say is on the way of the true meaning the true legal definition of what that is and then i want to go back to something you just got a moment ago about buyers having difficulty getting their hands on silver just to give us some more detail on that you're in london london is a precious metal capital of the world we hear rumors of tight supplies of solver of course