prosecutors also say that shrum personally bought drugs on the silk road website and he was arrested yesterday john f. kennedy international airport in new york he was arrested on sunday is expected to be presented in manhattan federal court later on in on monday now that. is charged with conspiracy to commit money laundering operating an unlicensed money transmitting business and willfully failing to file a suspicious activity report if guilty he faces up to thirty years in prison now i was reading a bit through the indictment it's really hard to separate here what they are alleging that charlie shrum did or what charlie should know about and didn't report it seems as just reading the indictment that charlie shrem was selling big koreans through instant that maybe three steps removed for him those koreans were then possibly used to buy drugs and then they're now those are now being called connected back to charlie lots of questions of course are being raised a lot still isn't known but we will find out of course in the coming hours and days new marina have actually mitt. i have back

in connection to this case this arrest instantly made headlines particularly because shrum is known as the bitcoin wonderboy determined to help the digital currency go mainstream back in june i interviewed after his bar became the first new york city establishment to accept a bit coy he struck me as someone passionate and proud about the expanding cryptocurrency community came into the space. i was the only person new york city had heard even heard of the coin i was left out of a very firm in the city and now fast forward to two years there are so many start ups the start of meet ups now bit point is a virtual currency free from banks or government regulation proponents say that the currencies ability to exist without any centralization is what makes it so healing last year the use of bitcoin became so prevalent that its value surged from thirteen dollars to over one thousand by the end of twenty thirteen no of course this doesn't make everyone happy j.p. morgan chase c.e.o. jamie diamond recently called. store of value in part because international governments bankers and other off

because he knows the law is he's very clear on the laws let's like let's let our viewers listen to what shrum had to say back in june first came into the space. i was the only person new york city had heard even heard of the coin i was left out of every p.c. firm in the city and now fast forward to two years there are so many start ups or start of meet ups just finally you know what is the attraction of the call and why do people use it because it has a monetary system free from government or bank control and credit card processing fees a it essentially allows every user to have control over their own currency and it could be used anonymously a lot of people in the culture a lot of users like the idea of having a currency that's not monopolized by banks or controlled by the federal reserve when i talk to economists jeffrey talk things because it could become a major gain changer for global finance. or government like innovations at all they don't like light bulbs at all like cars at all or there was a terrible but it's coming they're going to yes it does that national monetary systems it's ju

a bit instant shrum was arrested on charges of scheming to sell the fair appearances to the operator of silk road that another one you won't want to miss much as we head to a quick break here is a look at some of today's closing numbers stick around. we welcome marinate in abby martin truly terrific osho on the our team at work. is going to give you the numbers might give you one stock never i'll give you the information you make the decision don't worry about it i'll bring you the word the revolution of the mind it's a revolution of ideas and consciousness. extremely probably would be described as angry i think in a strong. under single. on our show we've talked a lot about the washington for wall street connection and how government and banks work together and what at times seems to be a cooperative agreement to run the country well joining us to discuss this very issue is larry doyle former former mortgage backed security trader for bear stearns j.p. morgan and bank of america now he is also author of the new book in bed with wall street conspiracy crippling our global economy his

joining me tonight, bob shrum and goldie taylor. what does this say about the republican party?ht now that he has to deal through legally. you have this situation with mcdonnell. rand paul was using other people's material. the where does this leave them? when does the repair start? >> at the end of the day, this is about the road to 2016 for governor christie or the lack there of. when you come down to power and corruption, you know, those things aren't revealed when you come into fame. this really only magnifies what you already are. this is the christie people have always known. he's on a larger platform. how the legalities play out for him remain to be seen. but the republicans have to decide whether this guy is the kind of guy they want to invest in to take them into 2016. i doubt that's true. >> are they going to be looking elsewhere for somebody who may have a cleaner slate and no media attention that might be negative? >> no one is going to rally behind governor mcdonnell. he and his wife, just maybe they're innocent in some technical way. there's no question they could

he and the guys around him, bob shrum, said this might offend poor people. there are a lot of middle class, upper middle class people who benefited from the 401(k) growth and benefited from the economy. learn how to benefit as well as complain. here's a question for you right now. unemployment insurance dead thanks to the republicans. apparently minimum wage, looks like there's no deal in the works. that's not going up. there's probably going to be a fight over the budget and debt ceiling next month. it's all going to be bad. is this going to hurt the economy? >> five-day percent in the dow and s&p. it's usually a blip down in the economy. i say blip down because the market and economy recovered. yes, if you get another debt ceiling fight, we'll give up what we had in the last quarter. all the gains will be given up if we have that. if you tell me there is going to be, chris, it's bad. >> why don't you tell the republicans who watch cnbc slavishly, who watch it like it's their religious notebook, why don't you tell them this screwing around by cantor and boe