this is why the government bond ponzi scheme house to collapse. there is no money at the end of the ponzi scheme for those people that are not working you should not pay somebody that to work led not to work of america will go the way of europe and we will crash and burn we have 22 million government employees all who want to retire on a six-figure income for not working for the rest of their lives from the age of 45 to the age of 90. 45 years to pay somebody not to work? the bond has to collapse the dollar has collapsed in cash and 1913 you kept in your mattress it is worth $40,000 because the dollar has lost 96% of its value so my book shows you how you can compound you have got in to make more money and protect your assets and educate your children and home school or kids my daughter never an a classroom and her entire life is going to receive your year of harvard per first classroom was three years ago as a freshman as a straight a student she was the top five students was accepted at oxford would therefore urge to your cause straight a's in t

blows up when george ponzi scheme was born ponzi scheme blows and prices double or triple week or a month and suddenly you praying double or triple for food and energy yet then as you're alluding to you will see what the economist magazine would euphemistically call a breakdown in social cohesion. ok now our opinion is unanimous that i was born to help to buy scheme. which only gets more extreme from january of two thousand and fourteen is the cause of the current mania one in four so-called jobs created this year are in property we talked about this in the first half the show is stacy herbert isn't this effectively a government works program again a capital society why are they putting real estate agents to work what brings the vote in the new deal notice he put the stations to work and somehow they went mentioned in the new deal it's extraordinary the state and sees this and it's terrible if we were actually building more houses so we could satisfy the demand in the housing market you could understand it but you can't export a house just boosting house prices over itself is not be

one great big ponzi scheme run by that can be no crime family and i apologize to insult them to compare them to obama. >> host: what is your day job? >> business speeches and entrepreneurship can political speeches i've a spokesman for five different companies site for prison on tv and radio i a speaker when the largest law firms and lost a guess i'm the only dawn lawyers spokesman the only guy who is not a lawyer i have a quite a few web businesses simon much producer in their wake up in the mortgage income up with an idea and put my own money behind it there are not allowed to people like that anymore i called them riverboat gamblers. and there is about 25 million. that is the ultimate obama survival guide that is to waits in line every day get 50 or one hedgy meals per day of small-business owners that say thank you. people think it is of book that a tax obama one-third tells you what we're facing. the other two-thirds are fis of what you can do to invest in the second term and make many even though he destroys the american economy for. >> host: what are some of your businesses and w

blows up when george ponzi scheme was born ponzi scheme blows and prices double or triple week or a month and suddenly you praying double or triple for food and energy yet then as you're alluding to you will see what the economist magazine would euphemistically call a breakdown in social cohesion. ok now our opinion is unanimous that i was born helped by asking. which only gets more extreme from january of two thousand and fourteen is the cause of the current mania one in four so-called jobs created this year are in property we talked about this in the first half of the show is stacy herbert isn't this effectively a government works program again a capital society why are they putting real estate agents to work what liberates a vote in the new deal notice he put the stations to work and somehow they went mentioned in the new deal it's extraordinary the state and sees this and it's terrible if we were actually building more houses so we could satisfy the demand in the housing market you could understand it but you can't explore the house just boosting house prices over itself is not

i said that's a sell but it's the end of it's well that's it's the end of the scam or the big ponzi scheme intil they cannot suppress the prices of physical silver and physical gold when that stops that's the end of the game now if you go around the world you look at what's going on real estate and asset bubbles have festered to the point of almost ready to implode now i don't know when that's going to happen i'm not a bright enough guy but when you keep printing and printing and printing and printing. now the e.c.b. latest was drake he said he's going to come out with another trillion dollar l t r zero. zero collateral i mean the collateral that they're accepting a spanish sub prime you can go on the e.c.b. his website have a look some of that collateral is pretty scary it's wish an american subprime mess five zero that means the e.c.b. european central bank correct they're the last really of the of the majors to expand their balance sheet yeah japan's been doing it for decades the federal reserve bank in america went from eight hundred billion to over three or four trillion same thing in

start returning people's money in a real time basis he couldn't because that would destroy the ponzi scheme the only difference between bernie made up and ben bernanke is that ben bernanke you can print his own money if bernie made off to print his own money he would be fed chairman today i mean there are a lot of things that have happened i mean everything is changed since the credit crisis the beginning of the credit crisis because we're in the throes of it now they changed. mark to market to accrual based the counting which means mark to fantasy it's the same thing that took enron down and it was a big part of the problem when enron failed it's because of the accounting principles so this king can keep going on i mean refinance rates refinance in the united states has dropped sixty five percent in the past couple months so i mean the trick one trick pony is coming to an end we're coming near that wall and we're going to hit it we're going to hit it hard ok so to put the context the response to the bubble that burst in two thousand and eight was to re-inflate the bubble which means housin

i said that's a sell but it's the end of it's well that's it's the end of the scam or the big ponzi scheme intil they cannot suppress the prices of physical silver and physical gold when that stops that's the end of the game now if you go around the world you look at what's going on real estate and asset bubbles have festered to the point of almost ready to implode now i don't know when that's going to happen i'm not a bright enough guy but when you keep printing and printing and printing and printing. now the e.c.b. latest was drake he said he's going to come out with another trillion dollar l t r zero. zero collateral i mean the collateral that they're accepting spanish sub prime you can go on the e.c.b. as website have a look some of that collateral is pretty scary it's with an american subprime the best five zero that means the e.c.b. european central bank correct they're the last really of the of the majors to expand their balance sheet yeah japan's been doing it for decades the federal reserve bank in america went from eight hundred billion to over three or four trillion same thing i

each this is a ponzi scheme and you of course those to sort this out so it's not my in my correct in saying you have to anticipate the criminality here you're like a forensics criminal criminologist in order to put out your service because you have to dissipate their crimes and the taper was a hoax correct absolutely a hoax and here's the key we can actually watch the footprints and the when when a fed sanction bullion bank take down the they come in to move the markets very quiet times of day much like four hundred tons might go off in the pay computer markets in april very recently talking about taper as recently as long. this week all of a sudden the day after the c o t cutoff the the the reporting cut off for the for the exchange of course the price dumps in the early morning markets one o'clock in the morning two o'clock in the morning who's around at that time of day very very lengthy liquidity those kind of footprints are so obvious because the regulators can pull that ticket very quickly and say hold on a minute who the hell would dump that many contracts at this time of day

rigging the judicial system and the legal system with the money they make in this financial life ponzi scheme and forbes magazine is a shameless promoter of market fundamentalism or market terrorism this is an article that said in pinion piece a commentator an outside commentator who posted this on there he's an iran fanatic so he's looking at the profits the so-called profits that lloyd blankfein has stolen from the rest of the population through fraudulent warship mortgage backed securities to front running markets through high frequency trading and he's saying that this is in an absolute objectivist fundamentalist way that the profits are all that matters and the fact that he stole it from you from your granny tough luck that's that's capitalism and his version of it well we've seen this with other fascist regimes and as the wealth confiscation gets more pronounced those who are doing the stealing whether it's the nazis in the thirties or warren buffett in the twenty thirteen period they scapegoat the losers so the losers are being scapegoated i've already mentioned the black community ame

a ponzi scheme... that went well beyond bernie madoff. the most recent indictment handed down in connection with the multi-billion dollar scam. 19 firefighters killed... during a blaze in arizona. the findings released in a new report... on the yarnell wildfire. you're watching fox45 morning news... weekends. ((br mom? did nana ever give you cheerios when you were a little kid? yeah, she did. were cheerios the same back then? cheerios has pretty much been the same forever. so...when we have cheerios, it's kind of like we are having breakfast with nana... yeah... ♪ yeah. you're so smart. dodger's fan who was stabbed to death after an altercation with giants fans in san francisco... is expected to make a public plea today. he is asking witnesses to come forward and share what they saw last wednesday night. without witness statements...the san francisco district attorney says he doesn't have enough evidence to charge michael montgomery in the killing of jonathan denver. denver's father is expected to make the plea outside giant stadium this

rigging the judicial system and the legal system with the money they make in this financial life ponzi scheme and forbes magazine is a shameless promoter of market fundamentalism or market terrorism this is an article that said in pinion piece a commentator an outside commentator who posted this on there he's an iran fanatic so he's looking at the profits the so-called profits that lloyd blankfein has stolen from the rest of the population through fraudulent warship mortgage backed securities to front running markets through high frequency trading and he's saying that this is in an absolute objectivist fundamentalist way that the profits are all that matters and the fact that he stole it from you from your granny tough luck that's that's capitalism and his version of it well we've seen this with other fascist regimes and as the wealth confiscation gets more pronounced those who are doing the stealing whether it's the nazis in. thirty's or warren buffett in the twenty thirteen period they scapegoat the losers so the losers are being scapegoated i've already mentioned the black community americ

he's now serving a 50-year prison sentence in the ponzi scheme. >>> bank of america has been orpded to pay black -- ordered to pay black job applicants more than $2 million in backwages and interest to settle a discrimination case. the bank applied unfair and inconsistent selection criteria leading to the rejection of qualified black applicants for teller and entry level clerical and administrative positions. this decision affects over 1100 applicants. >>> we still don't know how many stores wal-mart will build in the district, but we do know the company has opened hiring centers for two new locations. they're recruiting employees for stores at 2nd and h streets in northeast and along georgia avenue in northwest. >>> and wal-mart will be hiring a lot more people for the holiday shopping season. the world's largest retailer plans to add 55,000 seasonal workers, 10% more than last year. 35,000 part-time workers will become full-time. that means more workers will be offered benefit, something wal- mart has been criticized for not doing in the past. >>> toys 'r' us is ramping up for the ho

he is the 15th person charged in relation to that ponzi scheme. >>> two arrests in one of the deadliestillness in 25 years. brothers eric and mikesewn owned jensen farms in colorado. they're accused of knowingly selling contaminated melons that led to a 2011 listeria outbreak that killed 33 people. they have since gone bankrupt. >>> mcdonald's is launching a new campaign to help childhood obesity. yesterday the company announced a pledge to promote only water, milk and juice with its happy meals. not soda. they also plan to use happy meal packaging to generate excitement for fruits and vegetables. they're going to try it anyway. mcdonald's says the new changes are going to happen in major markets around the world including here in the united states. it will be fully implemented by 2020. >>> it is 6:53. time to answer the question of the morning -- >> our facebook friend sandra mills boyd wrote c. you can't trust the opposite sex around you and your partner. everyone gains weight and grows old together. they can't be b. unless you're young and you don't understand love yet. guess what? t

it's a ponzi scheme. that's huge. okay, i got four states, four banks, and one notary. what-- there, see? let's see, mr. j.t. eshleman, of poughkeepsie, new york. he got a stamp. banks didn't notice. that's an awesome catch, detective. okay, do you have any idea how much he owes? uh, well, in a month he's got a balloon payment coming due it's worth more than everything put together. (ross) is there a family trust that reverts to him upon his brother's death? (goren) they each had their own. ted's is gone and adlai's is quite substantial. the brother was an easy mark. you'd think he'd want him alive. maybe not. this is an e-mail from adlai to ted sent this past january. "i don't want to start the year with debt between us. "let's wipe the slate clean. "you don't owe me a dime, but i can't invest any more money in your ventures." who's handling adlai's finances now? his estate went to his wife. except for henry's sizeable trust and as his mom, she administers that too. ted might have thought he'd have better luck with her than with his brother. you have enough to hold him

officials believe mri staff defrauded investors by collecting funds through a ponzi scheme. the commission is cooperating with u.s. authorities in the investigation. in japan, some investors sued mri in june to demand a return of funds. japanese investors in the u.s. have filed a similar complaint as well. >>> japanese textile and fiber maker toray is buying a u.s. carbon fiber maker. officials say toray will acquire the entire stake. they say the acquisition is aimed at strengthening toray's wind energy. carbon fibers are lighter and stronger than steel. toray's carbon fibers are used in aircraft bodies. company officials say it's been difficult to cut costs for expanding applications for the use of the material. they say soltech technology is at a lower cost and offers opportunity for further growth. >>> here are the latest market figures. >>> a bomb has exploded on a bus transporting government employees in troubled northwest pakistan. at least 17 people were killed, and more than 40 wounded. police say the bomb went off in the back of the bus, as it was traveling through

>>> plus -- >> a former nba player now st d stands accused of running a multimillion-dollar ponzi schemery coming up when "power lunch" comes right back. [ female announcer ] it's time for the annual shareholders meeting. ♪ there'll be the usual presentations on research. and development. some new members of the team will be introduced. the chairman emeritus will distribute his usual wisdom. and you? well, you're the chief life officer. you just need the right professional to help you take charge. ♪ to help you take charge. maestro of project management. baron of the build-out. you need a permit... to be this awesome. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. (aaron) purrrfect. (vo) meee-ow, business pro. meee-ow. go national. go like a pro. >>> a former nba player turned alleged ponzi schemer now facing friends and former teammates in court, not on the court. andrea day has the story. andrea. >> it was just one shot that sent tate george into the nba. and n

maybe it's because the fed have accused him of running a $96 million ponzi scheme.allahan isn't talking about the charge. his brother-in-law, an alleged partner in crime, also clamming up. what do you have to say about this? is any of this true? prosecutors from the eastern district of new york say callahan conned investors, bought range rovers and a bmw and dumped millions into this montauk oceanfront. we found this commercial online. >> the panoramic view, the hamptons only carefree year-round resort and reference. quote, mr. callahan and mr. manson violated the trust of their clients, stealing victim' hard-earned money to per pet their fraud. today the game is up. investors were left stunned. >> in way, no way, i didn't know that until he was indicted. >> reporter: do you feel greedy, mr. manson, and did you deserve it take that money? the scheme allegedly b lly bega 2006. and prosecutors say for the next six years callahan raised more than $118 million from at least 45 clients. according it the indictment, he promised the money would go into high-dividend stocks

paul konigsberg has been charged for his involvement with madoff's $65 billion dollar ponzi scheme. konigsberg, a business acquaintance and close friend of the madoffs for more than 25 years, prepared tax returns for two family foundations and investors in the firm. konigsberg's attorneys claim he's an "innocent victim." in another scandal, former head of the imf, dominic strauss kahn, is embarking on a new career path as an investment banker at a firm in luxembourg. strauss kahn resigned as head of the international monetary fund in 20-11, after he was accused of sexual assault. those charges were later dropped, though he faces separate charges related to his alleged involvement in a prostitution ring. lawyers deny any wrongdoing. also from the eurozone, the high court has ruled that train operators must pay for delays. passengers will be reimbursed a quarter of the ticket price for delays up to 2 hours, and half the price for longer waits. the case came up after an austrian railway operator refused to compensate riders for delays caused by bad weather or striking workers. back in

. >>> the victims of a texas-sized ponzi scheme are finally getting some of their money back. more than four earring ago texas tycoon r. allen stanford was charged with bilk iing several thousands. >>> we see stadiums and tv shows sell their naming rights. now a smartphone operating system is getting sponsored. the deal puts google and hershey together. google's naming the next version of their android after the kit-kat bar. the internet company has named each operating system after a popular dessert like a cupcake or doughnut. android kit-kat is expected to launch this fall. financial deals were not disclosed. >> a delicious partnership. wendy gillette, here in new york. thank you, wendy. >>> well, straight ahead, your wednesday morning weather. and later, two men who prosecuted the sex abuse case at penn state speak out for the first time about the possible coverup of the crime. about the possible coverup of the crime. completely. as so you can feel free to add it to anything. and feel better about doing it. better it with benefiber. people have been daring them to clean up

that they pay them a percentage of the money they lose so let me ask you about this student loan ponzi scheme in america of the banks are going to make a hundred billion dollars under navy billion dollars in fees from originating loans i can't possibly be paid off that eventually end up being paid for by the slaves in america the taxpayer the u.s. banks make all the money on the processing fees they get paid as a percentage or a fee in terms of how much money is going to be lost so that a bunch of eighteen to twenty two year olds can get hot a lot of sex and get drunk how is that different then las vegas gambling casino business. i guess most people would say the only difference is if you go to las vegas and you know mortgage yourself to the hilt and lose all your money you can at least declare bankruptcy but if you borrow huge sums as a student you can get rid of that debt it's extremely difficult so you're even more of a debt service as a student than you are as a gambler how does a kid anyone reasonably expect this to be a good idea if you're taking the next generation which you need to cr

that they pay them a percentage of the money they lose so let me ask you about this student loan ponzi scheme in america of the banks are going to make a hundred billion dollars under ninety billion dollars in fees from originating loans that can't possibly be paid off that eventually end up being paid for by the slaves in america the taxpayer the u.s. banks make all the money on the processing fees they get paid as a percentage of our affiliate in terms of how much money is going to be lost so that a bunch of eighteen to twenty two year olds can get hot a lot of sex and get drunk how is that different than las vegas gambling casino business. i guess most people would say the only difference is if you go to las vegas and you know mortgage yourself to the hilt and lose all your money you can at least declare bankruptcy but if you borrow huge sums as a student you can get rid of that debt it's extremely difficult so you're even more of a debt service as a student than you are as a gambler how does a kid anyone reasonably expect this to be a good idea if you're taking the next generation which y

collateralized by another piece of debt which itself has no collateral either in this kent's unaided ponzi scheme that has reached seven hundred trillion dollars globally and is now virtually guaranteed to cause massive social unrest a bubble burst and complete reconfiguration of geopolitics as we know it today as the brics basically tell us in the u.k. phone. well you bring up slavery and this is this this notion of the chains comes into this story from robert shiller he comparison these guys like ben. bob benmosche from a id and all the other people in other financial services as being the neo feudal lords as erecting chains across the river to prevent people from crossing to where they used to be able to cross it freely and then just putting up chains and charging people their intermediating between something that was previously free commerce was flowing free and then they just intrude there they look for ways to rent seek and one of the ways that the chains are being manifested in the public domain is to higher inflation when people end up paying more for food more for gas more for health mor

collateralized by another piece of debt which itself has no collateral either in this counts unaided ponzi scheme that has reached seven hundred trillion dollars globally and is now virtually guaranteed to cause massive social unrest a bubble burst and complete reconfiguration of geopolitics as we know it today as the brics basically tell us in the u.k. phone. well you bring up slavery and this is this this notion of the chains comes into this story from robert shiller he compares these guys like ben. bob benmosche from a id and all the other people and other financial services as being the neo feudal lords as erecting chains across the river to prevent people from crossing to where they used to be able to cross it freely and then just putting up chains and charging people their intermediating between something that was previously free commerce was flowing free and then they just intrude there they look for ways to rent seek and one of the ways that the chains are being manifested in the public domain is to higher inflation when people end up paying more for food more for gas more for health more