years that greatly appreciating the swiss franc i want to talk about all these issues with paul craig roberts he served as assistant secretary of the treasury under president reagan and is in atlanta georgia hey there dr robert robert let's start with something that you wrote that caught my eye you said launching tin is threatening the world not merely with war but also with inflation a talk about this and what you think the implications are regarding some of those decisions that we've been hearing coming out of switzerland and also with what we're seeing on a global scale. yes christine washington having wars and large tax cuts and having are sure a large part of the american economy is now forced to print large sums of money in order to stay in operation and this is the raised the lots of concerns about that about the dollar and people have been sharing dollars and rushing into swiss francs and in europe the cerne about sorry there is concerning is happening the same thing is happening europeans are rushing out of euro's and this was francs and some swiss currency is was bid so high that th

that was former reagan administration official and columnist paul craig roberts. all right well precious metals are in demand as we've seen with gold and metals are about the only thing and demand in the decaying city of detroit michigan it's a city where president obama spent labor day yesterday speaking to thousands of auto workers and union members and there is good news out of there to an extent some of those automakers that were bailed out a few years ago they're actually reporting profits one of the major companies of course ford motor company and guess what ford just announced it will invest around one billion dollars to build a new vehicle manufacturing an engine plant but there is a catch a new plant which will create about five thousand jobs is in india are to correspondent more important i was recently in detroit and takes a unique look at what's going on there in reaction to the news of these types of stories as well as the surge in scraps take a look. this was once a city that symbolized america's innovation and manufacturing money. but today detroit

problem well as the international monetary fund needs in washington right now i spoke with paul craig roberts he's a columnist and a former reagan administration official who was actually assistant secretary of the treasury i asked him why the i.m.f. was willing to prescribe last why the austerity for greece when now it's coming out starting to say that austerity is the wrong thing here is what he said the trouble is the poles shoemakers in united states and europe are in the hands of the bankers and so the bankers who don't want to lose one euro or one day are using the policy of europe and united states to bail themselves out and they're getting bailed out regardless bed because to the general public in the various countries who are the cost to the national economies of the various countries you mention the basic problem so as long as those should make use of. bailing out the banks. well the rest of the economy will suffer and continue to worsen so would you argue that if greece doesn't back to fall and if i am a allows that that would be breaking the cycle that you're talking about well it

economist paul craig roberts tells our team that by doing this though the countries deprive the world of the last safe haven currency. this was strange eliminated as a so you say but because the gold it's not. only is gold the only safe haven when the two reserve currencies themselves are in question here the two main reserve currency in the euro both early in a situation where the world is losing confidence. and so nobody has confidence in the reserve what happens to the monetary system so people street people keep looking for a safe haven and gold supervisors have to continue to rise europe's economic woes are also being felt in the u.k. driving some parts of the country to crave more control for their finances. when scotland becomes independent and the next logical step is for me to speak out maintains a. separatist sentiment intensifies across parts of the u.k. as we bring you later in the program. but first a bomb blast has rocked the indian capital new delhi killing nine and injuring at least forty five people outside the city's high court for the latest we go live to our corres

economist paul craig roberts tells our team that by doing this switzerland's deprive the world of the last safe haven currency. which the swiss trying to eliminate it as a safe haven because the government's not going to. go the only safe haven where the two reserve currencies themselves are in question we have the two main reserve charts in the euro and both are in the situation where the world is losing confidence. and so nobody has come in and in the reserve churns what happens to the not a lot of dirty system so people street people keep looking for safe haven goals that will prices have to continue to rise. europe's economic woes also being felt in the u.k. driving some parts of the country to crave more control over their finances. when scotland becomes independent and the next logical step is for leaders to be coming to bend and to separate a sentiment intensifies across the u.k. as we reveal later in the program. first though the security chief of the ousted libyan leader colonel gadhafi has fled the country and is now in neighboring the air according to officials there could

crisis along as a canonic policies worldwide are dominated by greedy bankers that's according to paul craig roberts a columnist and former undersecretary of the treasury bond reagan. who trouble. makers and united states and europe are in the hands of the blankets and so the bankers who don't want to lose in one euro or a one day. are using the policy of europe and united states to bail themselves out and they're being bailed out regardless of the cause to the general public and the various countries or the cost to the national economies of the countries to mention a basic problem so as long as policymakers that focus. really on the banks. the rest of the economy will suffer and continue to worsen it's not up to the i.m.f. or whether greece defaults and we have to be very careful that the i.m.f. doesn't become the governor of these countries and the best solution for greece would be to the thought because if they default it means their loans have to be restructured to what they can pay and the banks then have to write down the losses and if the losses endangered by then the european central bank i

embattled euro in an effort to stop deflation and protect exports and promote tourism us economist paul craig roberts tells r.t. that by doing this switzerland's deprive the world of the last safe haven currency which the swiss franc eliminated as a safe haven because the goal was to not. only use gold the only safe haven. to reserve currency is themselves or in question here of the two main currents in the euro and both are in a situation where the world is losing confidence. and so nobody has come. in the reserve currency so what happens to them an actual monetary system so people street looking for a safe haven. have to continue to rounds. europe's economic woes also being felt in the u.k. driving some parts of the country to crave more control over their finances. one stock can be canceled japan intent the next logical step it's a way to speak timings of plans and to separate as sentiment intensifies across the u.k. as we reveal later in the program. first though certain security chief of ousted libyan leader colonel gaddafi has fled the country and is now in neighboring the share according to of

solutions or is the very institution part of the problem well as they need today in washington paul craig roberts columnist and former reagan administration official is here to help us answer that question he's also it was former assistant of the treasury under secretary reich and thanks for being with us so my first question to you earlier this week it was interesting because i don't know if you saw but i am which has really been a classic proscribe or of austerity came out warning against it and promoting short term stimulus do you think that we're seeing a change of tone with what i am or. well the i.m.f. changes its tone for your united states but not for anybody else but then how would you respond to great because great as part of the article and the i.m.f. has prescribe austerity for very right well you see the trouble is that the policy makers in united states and europe are in the hands of the bankers and so the bankers who don't want to lose one euro or one dollar are using the policy of europe and united states to bail themselves out and they're being bailed out regardless of the cost t

economist paul craig roberts tells r.t. that by doing so switzerland has deprived the world of the last safe haven currency which this was trying to eliminate it as a safe haven because the gold was not going to really only use go the only safe haven when the two reserve currencies themselves are in question here but to maintain its nerve currents in the euro both earlier in the situation with the world is losing confidence. and so nobody has come. in the reserve turns what happens to them and a lot of jurors system so it will stay each new people keep looking for a safe haven the goals that were prized have to continue to rise. next believe big blow to the eurozone could be coming from an unexpected source as we find out later today to later today and latest edition of crosstalk. yes i do write the obituary and everybody knows that the next ones that go into crisis spain france portugal and the u.k. but the german situation is actually worse and he said he maintained by the belief that it's rather more stable i think it's

economist paul craig roberts tells r.t. that by doing so is what so and has deprived the world of the last safe haven currency which the swiss try and eliminate it as a safe haven because the government's not going to. let only use go the only safe haven where the two reserve currencies themselves are in question here are the two main reserve currency in the euro and both are in a situation where the world is losing. and so nobody has come. in the reserve germans what happens to then a monetary system so if people state people keep looking for safe haven goals that will prices have to continue to rise. the next believe big blow to the euro zone could be coming from an unexpected source as we find out later today later today and leads to dishing of crosstalk. yes i do. and everybody knows that the next ones that go into crisis spade france portugal and the u.k. but the german situation is actually worse and he said he maintained by the belief that it's rather most stable i think it's too soon to write the a bit you are for t

medium battle euro an effort to stop deflation protect exports and promote tourism us economist paul craig roberts tells r.t. that by doing this switzerland has deprived the world of the last safe haven currency. the swiss trying to eliminate it as a safe haven because the gold it's not going to really only use going up the only safe haven when the two reserve currency is themselves are in question here to gain currents in the euro well earlier in the situation with girls losing out. and so here nobody has come. in the reserve jurors what happens to the managers system so it will speak to people keep looking for a safe haven the goals that we have to continue to run. and greece has only itself to blame for its economic troubles according to rohan vora bell a political economist at university of mannheim in germany full interview coming your way in the next hour but here's a preview. the reason this through the ghost of all because the previous greek government has been very is them through first that's accumulated very large deficits even before the financial crisis greece has been. a member state

needs in washington right now i spoke with paul craig roberts who is a columnist and also a former reagan administration official assistant secretary of the treasury mind you i asked him why the i.m.f. was warning about austerity now as we heard earlier this week on the i.m.f. has traditionally been the purse kreider of austerity well that m.f. changed his tone for europe and united states not for anybody else but then how would you respond to great because greece is part of the eurozone and the i.m.f. have first private austerity for greece right where you see the trouble is. makers and united states and europe are in the hands of the bankers and so the bankers who don't want to lose one euro or one guy. are using the policy of europe and united states to bail themselves out and they're being bailed out regardless because to the general public and the various countries or the cost to the national economies of the various countries and that's the basic problem so as long as policymakers are focused on bailing out the banks. now the rest of the economy will suffer and continue to worsen so

robert meyer >> nurul h. miah >> william edward micciulli >> martin paul michelstein >> peter teague milano >> gregory milanowycz >> lukasz tomasz milewski >> sharon christina millan >> corey peter miller >> craig james miller >> douglas charles miller >> henry alfred miller, jr. >> joel miller >> michael matthew miller >> and my beautiful sister. you were the best daughter, sister, aunt, a cousin, knees and friend to many. we all love and miss you and your big smile and the sound of your laughter. your mom's best friend and she misses you so much every day. you are always in our hearts. >> and for my brother, michael. his love us -- his love of life and sense of humor lives on in and sense of humor lives on in the many stories that