about portugal come as the u.s.reasury secretary jack lew lands in europe today, for his first official visit to the region since taking office. he wrapped up talks earlier this morning at a surround table in brussels. and that's where our very own kelly is. that's why she's not with me on set this morning. he's wrapping up talks today. how different is his message from what the previous treasury secretary aes message has been? >> ross, i don't think the message is any different. the difference is how it might go over with europe. back when tim geithner was doing his visits other here in 2012 1k3 especially late 2011, the europeans were very much on the offensive pointing to the global financial crisis and saying it was an indictment of the angelo american model and theirs was a better way forward. i think it's hardtory make that argument this time around. the message is likely to be a reiteration to address its own issues for the sake of the rest of the world. but, again, it might fall on somewhat more inclined ear

spain's unemployment jumping to a record of twenty seven point two percent and in neighboring of portugal almost one in five of the workforce has no job and people in the two heavily indebted nations are launching fresh protests against their governments and international lenders and let's get the latest now from all of us standing by for us live in lisbon hello peter good to see you i understand it's probably very noisy where you are with people getting i set out for you and see you austerity measures protests but what's got them all riled up this time. well april twenty fifth this traditionally the day that they celebrate the start of the revolution in one nine hundred seventy four here in portugal but this year those celebrations are also containing demonstrations demonstrations against demonstrations by people who think that the way that portugal is being traced all mistretta by europe's financial institutions is too much and also longer. at their own government for allowing it to happen now to talk a little bit more about the context and the reality of what's facing the portuguese pe

when we come back music from portugal.. >> jimmy: their new album "evil friends" comes out june 4th. here with the song "purple yellow red and blue" portugal the man. ♪ ♪ all i wanna do is live in ecstasy i know what's best for me i can't help it ♪ ♪ it's this hopeless itch i just wanna feel wanna feel purple yellow red and blue ♪ ♪ ♪ oh-oh-oh ♪ when i grow up i wanna be a movie star or on tv cuz workin' just don't ♪ ♪ work for me but i can't focus feeling hopeless so i'll just sit back ♪ ♪ try to relieve all i wanna do is live in ecstasy i know what's best for me ♪ ♪ i can't help it it's this hopeless itch i just wanna feel wanna feel ♪ ♪ purple yellow red and blue ♪ oh-oh-oh oh-oh-oh when i grow up i wanna be ♪ ♪ a rich-kid born celebrity it's not greed but necessity now i don't focus ♪ ♪ on the hopeless when i look out it's only for me all i wanna do is ♪ ♪ live in ecstasy i know what's best for me i can't help it it's this hopeless itch ♪ ♪ i just wanna feel wanna feel purple yellow red and blue i just wanna be evil ♪

our correspondent has more from the frankfurt stock exchange. >> the government of portugal -- and portugal are stuck between a rock and a hard place. it has to do reforms to get the money. on the other hand, the highest court is against some of these efforts. to the financial markets, this is fear that the european debt crisis might get into a new round. but nevertheless, investors stood quite calm. they said portugal has always been able to manage its problems to nevertheless, the dax h h heen flatlining, not only because of the european debt crisis, but also because of the uncertainty in advance of the earnings season. >> let's get a closer look at the numbers for you. the word of the day -- caution. traders in frankfurt held their positions on monday with the dax closing the day little changed. there is a similar story for the euro stoxx 50. the dow jones industrial average is treading water, not doing a lot. the euro-dollar is currently trending higher. it has been an unusually long winter here in germany. it is not just affecting the mood of me and meggin. it is also impacting the eco

portugal's unemployment rate is at a record high and it's still rising. so far anti-austerity protests here have been peaceful. the challenge for the government now is to make sure that the financial burden is shed fairly between the public and private sectors. >> and the first test of portugal's credibility is going to be late they're week. an informal meeting in dublin where the portuguese will try to renegotiate the maturity terms of their latest terms. this will be the first test whether the international partners are convinced that the partners can find other way of delivering the savings he's promised. >> there have been protest in madrid with the young people demanding to work. with unemployment at record levels, they say the only hope is to emigrate. small towns have been hit particularly badly with the recession. >> market day. the business has ground almost to a stand still. >> things are very, very slow. there's no money. no money at all. >> welcome to espera. the name in english means wait. that sadly appropriate for this town of 4,000. govern

tools especially not internationally the two it could help countries like portugal spain or greece. i wish i had a few here on say that i have rising violence in iraq and the country suffers one of its bloodiest chapters since u.s. troops pulled out but the ethnic clashes and bombings leaving more than one hundred dead and more on that after the break. the international airport in the very heart of moscow. thank you for joining us here on our. show you in moscow a father of the two boston marathon bombing suspects says he won't seek revenge for the death of his son tom arlen and sort of added that he wants to bring his daughter in law and and grandson back to russia artist on barton told me more about what was said by the brothers parents at a press conference in dagestan. in this press conference the mother and father said that they spoke about what their next plans would be and how their feelings were at this moment are they said that she was probably going to give up her u.s. citizenship she was very emotional in this short press conference she restated that she thought her sons

troika of international lenders after spain's unemployment soars above twenty seven percent while in portugal thousands of demonstrated against austerity as well. as a good having you with us here on our t.v. our top story the u.s. defense secretary chuck hagel said his intelligence services have quote some confidence that syria's government used chemical weapons on a small scale he said it's believed the nerve agent sarin was deployed against civilians and rebel fighters are merino porton has more. the u.s. defense secretary chuck hagel said at the white house and has informed members of congress that intelligence officials believe with some degree of varying confidence that syrian president bashar al assad's government has used chemical weapons against members of the opposition specifically sarin gas didn't provide any specific facts on when or where the alleged weapons were used and it was not even clear what the freeze with some degree of varying confidence even means does that mean that one intelligence official is confident that this is taking place and one is not confident clearly that

prostration with austerity is deepening among europeans with people in portugal and spain preparing for fresh protests against their governments and international lenders and the heavily indebted nations have been struggling to dig themselves out of recession and this under the strict terms of the e.u. and i.m.f. bailouts spain's unemployment has jumped to a record of twenty seven point two percent while in portugal almost one in five of the workforce has no job peter all of a far this report from lisbon. the. revolt of a different kind. on the streets of. to demonstrate against the current government in the country and against the three. given to the. nation. the e.u. the international monetary fund the european. one of the main targets. as well their own politicians isn't the only nation demonstrations take place. in spain around one thousand four hundred riot police. to try and make sure. as we have seen in the past now it's not just people. here in europe with senior members of the european parliament. against the way. the seemingly. very. way that the situation. as neo colonialism.

portugal's government now says it will cut spending on education, health and welfare. don't let investing's terrible two-some--greed and jealousy push you into investing based on emotion. it's especially tempting if you look around and see a bull market rally that have yet to get in on. be strong---that's the advice from brad glickman of bernard r. wolfe and associates who says it also applies when the market drops and your tolerance for risk and volitility is tested. "that's a great time to reexamine the overall investment strategy because you need to focus on the long term goals. when the markets fall people have a tendancy to do the wrong thing at the wrong time and they let their emotions dictate their investment allocation. and that's when the advisor needs to come in and remind them what they need their money to do for them." a ten-year study just concluded by morningstar, found mutual funds generated higher returns than typical investors--- as much as two=- thousand dollars less on an initial 10-thousand dollar investment. could jamie dimon be on his way out at

well thursday saw another day of protests across europe here in portugal thousands of people marched through the center of lisbon angry at what they see as unfair cuts that have been placed upon them by the government a first round of public services like education and health care will be introduced very shortly with one billion euros with those cuts people very unhappy about the us i was speaking to some of portugal's any peace he said this they are continuing to speak to their colleagues in brussels from the the northern countries in europe particularly journey to try and bring them around to the place of people who live. in this also thirty is stupid not because portuguese cannot live with scar since we can but because it's not working and it won't work one third of our use is an import the other serves as very bad jobs are prepared is what i tell my mind german colleagues that it will be much better if they want to you know face on their nuclear power plants to have solar energy coming from portugal to the north so there is a way that we can work together it's not just a way that

and utterly unfair and if portugal is forced to sell then how can italy avoid the same fate or greece for that matter in you when face innuendo well yes ben bernanke and the rumor and the scuttlebutt is that they may end quantitative easing they may end this process of printing money and buying bonds eating their own vomit as it were but that is in possibility there is no exit strategy ben bernanke he will never end quantitative easing this will all end in a massive currency devaluations against gold everyone knows that who has a lot of money the people with the most money know this that's why they were buying lots of the gold as it was being coughed up puked up at the bottom well for every seller there is indeed a buyer so somebody was buying big time during these record sell offs. but it was also says that all these european nations are going to capitulate somehow people think that italy is going to hand over two and a half thousand tons of gold. but of course as soon as this was going on as well as everybody saying well gee cyprus is going to hand over its goal now is going to hand

a lot to cover i wanted to just jump right in and i read a headline i thought immediately of you portugal will begin paying the public workers with treasury bills instead of cash this sounds like an alarm bell your thoughts it definitely is an alarm bell you know there's a saying from an american philosopher if you ignore history you end reliving it and what portugal is doing is what happened in america after the war of independence instead of actually paying bills they issued little pieces of paper and those little pieces of paper circulated discourtesy they're called bills of credit because the result was so bad the currency at the time the continental which was the first currency in america hyperinflated they put it in the constitution that you can't issue bills of credit portugal is trying to issue bills for credit they call it you know treasury bills but it's essentially the same thing ok let's jump over to cyprus ok cyprus there they're taking money out of people's bank accounts we saw out of the m.f. global united states all the more of the institutional side kind of went over the

quote from dennis gartman in his latest newsletter he said if cyprus is forced to sell gold then portugal shall be too otherwise the discrimination against cyprus shall be wholly unwarranted and utterly unfair and if portugal is forced to sell then how can italy avoid the same fate or greece for that matter and new when the face and you end up well yes ben bernanke and the rumor and the scuttlebutt is that they may end quantitative easing they may end this process of printing money and buying bonds eating their own vomit as it were but that is in possibility there is no exit strategy ben bernanke he will never end quantitative easing this will all end in. currency devaluations against gold everyone knows that who has a lot of money the people with the most money know this that's why they were buying lots of the gold as it was being coughed up puked up at the bottom well for every seller there is indeed a buyer so somebody was buying big time during these record sell offs. but it was also says that all these european nations are going to capitulate somehow people think that italy is going

reliving it and what portugal is doing is what happened in america after the war of independence instead of actually paying bills they issued little pieces of paper and those little pieces of paper circulated discourtesy they're called bills of credit because the result was so bad the currency at the time the continental which was the first currency in america hyperinflated they put it in the constitution that you can't issue bills of credit portugal's trying to issue bills or credit they call it you know treasury bills but it's essentially the same thing that a let's jump over to cyprus ok cyprus there they're taking money out of people's bank accounts we saw out of m.f. global united states more on the institutional side kind of went over the people's heads they weren't paying much attention to now the government just taking money out of people's bank accounts or thought yeah yeah it was a shocker for me in the sense that they were first talking about going even after the insured deposits and then they backtracked from that very very quickly but i think there are a couple lessons that

q spain and portugal they're straight out of a fairy tale! that's me, elizabeth. and rob pinkston. we're traveling over the mountains... amazing. elizabeth: ...into the castles... wow, this place is really cool. i love these arches up ahead and this. it's awesome. elizabeth: ...and through the cities of spain and portugal. fresh made gelato. cheers! mmm! and you're coming with us. it all happens right now. all right, so, here we go. we're going to the bridge in rupit. and i'm really excited 'cause it looks awesome. whoo-hoo! let's go! elizabeth: welcome to elizabeth stanton's great big world,

taxes continue to go up in portugal, moving up just as smartly here, a problem for companies and markets here and there hard to say this, much is not, most analysts bet this will be a tough earnings respect card -- report card, most expect as a group to report first year-over-year quarterly drop in about a year, a 6% decline is likely, 10% not out of the question. let's ask katherine, and gary smith, and fill flynn, gary? >> i agree with our synopsis, that i think that earning seasoning be tough, what set the tone is jobs report that we got this past friday. it shows what people we have working, are not going to be spending. people consumer spending has been flat, consumer spending goes so does corporate america. i think you will see a lot of companies like alcoa they manage with duct tape and wire to patch together good earnings reports but revenues will be down that will cripple them. neil: katherine, will this cripple our rally we've been seeing with record after record market. >> this is a curious dynamic, we have seen system system hit a new -- s&p hit a new record this month, this

banks, big banks in portugal, are much wider the last two weeks. so credit is leading equity, and i'm going to follow credit. >> you disagree with this play, shorting the financials? >> yeah, i think it's a financial opportunity on the pull-backs. how many times have we set here talking about jpmorgan, saying when would you want to get back in? we talked about maybe if you could get a percentage pull-back. i'd love to get further back on jpmorgan. you're looking at a stock $51. we haven't come close to a 10% pull-back. love to see something like that. i think it would be a great buying opportunity. >> larry? >> i think at the end of the day what's happening is the cyprus move has created a capital flow out of some of the banks in europe. we will get deposit figures in the next two weeks. but right now, we don't have the deposit figures in italy, portugal, spain. what you do see, subordinated paper off substantially, and that tells me there's a potential problem, especially in portugal, because they have no room for error. and if the government has

slovenia, portugal today. money sloshing around. >> that's correct. the farther bank of japan fights, is going to unleash $1.4 trillion of liquiquiliquidity. they have been sure they retire. so there you can see that -- >> the european markets are closing now. >> part of europe is trading higher. some in negative territory. what is interesting you will see portugal down on the bottom left. see portugal there down substantially over the weekend. you've got -- on friday night you've got the constitutional court knocking down some of the austerity. that existing bailout on portugal may be in come difficulty. of course, we're now looking to whether slovenia will be the sixth nation to be bailed out as their crisis continues and credit worthiness falls. if you look at where we are on the bare bones of the data, if you like you can see that slovenia is the bigger issue for the market as things stand at the moment because portugal is already contained even though that may be under some pressure moving forward. what's

debt of private bankers nationwide protests erupted sounds familiar except unlike in cyprus greece portugal and others these protests made iceland's president reject the troika's demands and the trio went while threatening isolation and sanctions even raising comparisons with cuba which rekick stood its ground at a nationwide referendum and around ninety percent voted not to be the debt in fact they went even further starting criminal investigations into why so much money was old even jailed some of the country's top bankers and while they were added ordinary citizens rewrote the constitution which now obliges the government to keep all work in the public eye unless it's a matter of national security of course nothing more earlier i spoke to a professor of political science and one of the people who took part in the revision of iceland. the european union was shouldn't. be icelandic state the icelandic taxpayers were responsible for that of private banks in the case to an international court now the after court found iceland was in the right i'm not responsible for this amount and refused t

the two it's especially not into naturally the two it's to help countries like portugal spain and greece u.s. officials now admitting that an almost daily basis to guantanamo bay hunger strike is rising lawyers for the prisoners claim the real figures though are higher with the majority there are seven hundred sixty six detainees now refusing food official numbers started to grow after prison guards are trying to break up the protest get more official saying ninety four detainees now starving themselves with seventeen being force fed and three in the hospital there have been several recent suicide attempts and the military is muslim advisor says he had four of the protests may lead to deaths many are held at the prison without charge and the majority think they'll never walk free artie's guide reports the military has been updating the numbers since the middle of march saying at the beginning that there were fourteen people on strike it is hanis defense lawyers have been saying all along they were made. war around one hundred thirty they would say earlier this month the president tried t

quote from dennis gartman in his latest newsletter he said if cyprus is forced to sell gold then portugal shall be too otherwise the discrimination against cyprus shall be wholly unwarranted and utterly unfair and of portugal is forced to see.

and negotiated major debt write offs at times it does seem like the let me be right to call this portugal greece and spain continue to spiral deeper into their excruciating financial mass their current deficit to g.d.p. ratio is just under three sound they have no money and plenty of debt they borel. more to serve their bond allegations back in two thousand and eight i slid the deficit to g.d.p. ratio was twice that of the pigs yes iceland allowed its banks to collapse under their own debt way technically bankrupt the island nation managed to get an impressive job of turning its economy around its banking sector return to profitability its business is restructured their debt and it kept growing and many of their people were able to keep their homes and five years after the most devastating financial meltdown in the history both the lowest jobless rate in europe less than five percent now the euro zone's strongest economy germany has five point four percent so if some think it's iceland that was humiliated the world over they should definitely think again. despite the rapid recovery after

anger of a new record high unemployment figures the jobless rates no twenty eight in greece and portugal the discontent comes as fishel polls show that trust in the e.u. institutions has reached an all time low. and the partnership which used to be at the heart of the decision making cool times to france where lund's ruling socialists in france have attacked the german chancellor for acting only in her country's interest they said in a draft document on european policy and although party officials later said the strong words would be removed the sting reflects growing resentment against german austerity no surprise as this investment advisor patrick young is on the line now to give us somewhere well informed comment patrick i mean present alliance party allies have since backtracked on this of us as i said what's left the sour aftertaste what is the state of relations these days well the tragedy is that the core by all of the european union for so long frankly german relations are plummeting to new lows because i mean essentially you've got mr hollande to it's less than a year already ca

quote from dennis gartman in his latest newsletter he said if cyprus is forced to sell gold then portugal shall be too otherwise the discrimination against cyprus shall be wholly unwarranted and utterly unfair and if portugal is forced to sell then how can italy avoid the same fate or greece for that matter and knew when to face and you end up well yes ben bernanke and the rumor in the scuttlebutt is that they may end quantitative easing they may end this process of printing money and buying bonds eating their own vomit as it were but that is in possibility there is no exit strategy ben bernanke he will never and quantitative easing this will all end in a massive currency devaluations against gold everyone knows that who has a lot.

it's time to leave behind fossil fuels altogether portugal portugal just produce seventy percent of all their powerful power needs from renewables we can do that too we are still the nation the put a man on the moon then event of the transistor and the integrated circuit that led the world for centuries if we can just get the bought and paid for politicians out of the way and get our press to actually cover the horrors of tar sands oil and the reality of climate change we just may be able to once again have the j.f.k. vision of the city on the hill we should even take a lesson from the dozens of nations that have been nationalized their oil in like norway use the money to send their kids to college it's time to step up and speak out and that's the way it is tonight thursday april eighteenth two thousand and thirteen don't forget democracy begins when you get out there get active tag you're it. the british. market. find out what's really happening to the global economy. for a no holds barred the global financial headlines kaiser reports. the mission of free accreditation street firms for

we know that the jobs report was pretty bad and i think portugal, to be honest with you, i think -- iw-- >> they're fighting to avoid a second bailout and respected some austerity measures. charles: listen, how much pressure did cyprus give us? cyprus? now, portugal isn't the largest economy in the world, but it's larger than cyprus and goes to show you if they want to unwind their terms, does greece come back and what if italy demands. if they can't accept the austerity terms that they've laid out to get this money, this is scary stuff. my initial hunch it's coming from europe. stuart: you think it's coming from europe? anything to add. cheryl: i think that's a piece of it. obviously, just to add to your point, portugal, spain and italy, can we have a run on the banks in this country, they could, if things deteriorate and a note from goldman sachs came out on sunday and talked about a gdp slowdown. stuart: hold up, hold up. goldman sachs said what? >> okay, the first quarter, they're predicting 3% gdp. q-2 and-- >> economic activity in the united states. stuart: spell it out. that's

obviously, we would have to ask portugal on that, i guess. >> why not, you know? if clearly the credit of the nation sums up any money, we'll see where we go. jules, thanks for that. >> from the bottom of the barrel. >> exactly. >>> joining us until the studio is francesco. we haven't got a cyprus. i said we've concluded cyprus, but clearly we haven't concluded since we last met. what's your biggest take away? what has cyprus done, bearing in mind it's such a small country. has it changed the nature of your thoughts on the eurozone? >> no. because it was the month in a negative way. and we were all bearish and quite negative on europe like in the longer run and we think that the euro breakout is a genuine case to be done for a euro break-up in the next few years. if anything, cyprus is a stepping stone in that direction. cyprus was a negligible issue, most expected by the markets ever since the greek psi last year when the greek psi up and it equated to a loss on the other side of banks for 25% of the overall gdp of cyprus. so it was expected that cyprus would be

quote from dennis gartman in his latest newsletter he said if cyprus is forced to sell gold then portugal shall be too otherwise the discrimination against cyprus shall be wholly unwarranted and utterly unfair and if portugal is forced to sell then how can italy avoid the same fate or greece for that matter in you when face and you end up well yes ben bernanke and the rumor and the scuttlebutt is that they may end quantitative easing they may end this process of printing money and buying bonds eating their own vomit as it were but that is in possibility there is no exit strategy ben bernanke he will never and quantitative easing this will all end in a massive currency devaluations against gold everyone knows that who has a lot of money the people with the most money know this that's why they were buying lots of the gold as it was being coughed up puked up at the bottom well for every seller there is indeed a buyer so somebody was buying big time during these record sell offs. but it was also says that all these european nations are going to capitulate somehow people think that italy is go

germany and portugal are wealthy nations and can afford to invest money on solar power and other sources of renewable energy. but even countries substantially poorer than germany are turning to solar power using that renewable source of energy to help power neighborhoods and communities. in india local solar power charging stations are popping up in some of the country's worst slums and small villages millions of indians own cell phones but live in homes that have no access to electricity and as a result they have to find new sources of energy to power their devices that's where polan eight energy comes in poland energy and indian social enterprise n.g.o.s has in just the past five months sold four hundred private solar systems to indian slum dwellers in bangalore one of their country's largest and poorest cities these private solar systems are often no larger than the palm of your hand yet they're becoming tools for survival in the world's most overpopulated country and they pay for themselves in just six months which is a big selling point for people making just three or four dollars a

portugal the doing it. ireland has already done it. the united kingdom is doing it.stion; when are we going to do it? jason, i want to go to you on this, it's very interesting, portugal cutting their tax rate. britain the netherlands already has a tax rate. every one of these guys are around 22, 23, 24, 25%. the united states at 35-40%. when will you drive home a corporation tax cut? >> the united states of america has the single highest corporate income tax in the world. if we're going to compete in the global marketplace, of course we got to drive it down. we got to broaden the base, low tr rate. dave camp the chairman of the ways an means committee is committed to this. we got to get rid of those loopholes, bring that rate down, become competitive. repatriation i think is a huge thing. i recognize -- >> money overseas, bring the cash back, build a factory, don't tax on the debt. >> exactly. go to a territorial system. be able to compete in the world markets. some of our biggest corporations have billions by the tens of billions sitting overseas. that should be inf

out of work has jumped to an all time high there of twenty seven point two percent in neighboring portugal almost one in five in the workforce of job ortiz peter all over has more from lisbon. people have come out his has caused the usual twenty fifth of april celebrations to commemorate the on of the anniversary of the revolution it took place here and nine hundred seventy four this year however there's also a large protests against financial mistreatment as they see by both their own governments and by the three main lead in this in here it's not so much the four holes of the apocalypse but the three money lenders of europe that they have portuguese people appearing to bring about ruin still to me a little bit more about just why the choice of the most hated people in full to go they could be said to say i'm joined by joe come out who you say and to try to based what choice did they did you just would have potable troika i mean so seriously. we have been experiencing for more than a year. now certain measures which have effects just short of every good prospect of social status of welfar

other countries it would be far harder to deal with that is why everybody is more concerned about portugal spain and italy these economies are presently in a tight spot and they're also getting more support than others as the european central bank is committing the bulk of its resources to bailing out these three countries however this support may prove to be ill timed or coma at a high cost if we can say that economies are both great and small are still facing risks do you think it's appropriate to talk about a certain see when it comes to the european union considering they're fighting off shores right now yet have territories such as cyprus and british virgin islands. it does have a touch of double standard policy about if those nations have an opportunity for shutting down those offshore havens they certainly should have done so. who do you think is primarily responsible for the fact that offshore schemes are being conducted right in front of the regulators eyes do you think it's the regulators themselves the banks isn't it with. the scale and scope of the two thousand and seven two th

a precursor to what we saw with greece, ireland, portugal, spain.e a chance to defend himself. here a moment ago from the bitcoin defended the bitcoin and at the same time i see gold literally crashing, some say bitcoin is the new gold. you follow all these markets, what is your comment on bitcoin? >> if it wasn't legitimate currency it wouldn't be dropping from $200 down to $90, to be running the other way and a stable value. to me it is a large commodity scheme. very tough to convert it to real currency. stuart: direct and to the point. now, the dow is down 102 points, so it is folly not as sharply in percentage terms as gold, but what does this mean for the average investor on the stock market? >> stay tuned. this isn't necessarily the bad thing everybody makes out. would you rather buy something when it is on sale or buy something when it is 50% more expensive? this is the exact time to start getting in. now is the time to start thinking about volume. stuart: appreciated. germany wants a wealth tax in spain, portugal, greece to pay for future ba

you mentioned portugal.re ruled that cost cutting proposed to keep them out of bankruptcy was united states constitutional >>> fresh video coming out of korea. south koreans leaving the joint factory. officially shutting down that facilities. north korean workers will no longer show up. >>> an earlier report that north korea will test another nuclear weapon is cloudy. radio reporter have him on tape saying what he now denies saying. we will continue watching that. >>> 6:54. if you want to take your shot at becoming an instant millionaire. powerball has officially arrived in california. a lot of people have been waiting for it. >>> "today in the bay's" christie smith is live in san loren know where one man kamped out all night to get a ticket. >> reporter: good morning to you. if this doesn't draw you in, i don't know what will. the luckyest store in the bay area. this is kavanagh's liquor. they have produced a number of winners. there may be another one sitting here this morning. tony, you have been hooer si

the portugal finance minister wants to create space to issue 10-year bonds. we'll see how that plan goes down. but that's one of the opportunities they're looking at. meanwhile, gold scored its biggest decline in nearly two months on the news that cyprus is looking to sell the majority of its reserves to help finance its part of the bailout. the first significant sale in the eurozone since back in 2009. at the same time, goldman sachs has become the latest big hitter to become bearish on gold. that's down from its previous forecast to $1600. they say not even the recent 2e7kzs on the peninsula are turning investors to gold as the safe haven play. the central bank might begin to taper its easing program by mid year. the imf chief christine legarde admitted there was some risk to ongoing easing, but she admitted that the fed and other central bankers were taking the right course of action. >> it's unconventional monetary policy because we are in ra low interest environment and more needs to be done. at the moment, government with their fiscal policies have limi