so trader shrugged off new measures by the swiss authorities to stem demand for their currency sending the swiss franc sharply higher the franc jumped by two percent in just a matter of minutes as traders ignored the swiss national banks decision to almost double the amount of liquidity yvel it will to the money market well look at the central bank is a force that resides outside of the economy and it's there to provide theoretically speaking price stability and in full employment that's their charter but they got sucked into the bank they got sucked into the parasite that is the banking system so now a sense earth is no longer available as a location to create a central bank policymakers and keynesians brainiacs are saying well let's just create a central bank outside of earth or depend on an invasion from outer space aliens from abroad of course so might also argue that this is a thinly veiled reference for the need to create more war because people often say well world war two go to america out of a depression so having failed to stimulate the economy by say imposing the rule of law

a swiss franc in fact with the euro dollar forty want to have the swiss franc is rapidly approaching parity with the euro and it just took parity with the u.s. dollar that happened very recently and now it's at a thirty percent premium and look at the swiss franc i mean the yen imagine where the yen would be debated to pan had flushed the equivalent of fifty billion dollars down the toilet last week to buy u.s. dollars and of course u.s. try. what does japan do with all those dollars that are by their blind treasuries not because they want to but because they do there's a gun to their head but they're mistaken so instead of paying somebody to hold your dollars sell your dollars and get into this was frank or get into gold i've got about thirty seconds left i just want to go swing back and revisit the gold standard idea clearly as you point out what with the problem today is inflation and by returning to the gold standard you are coming back with something that will hopefully restrain government from spending and from the printing presses from rolling out of full speed so what clearly

swiss francs. in fact with the euro dollar forty wanted to have the swiss franc is rapidly approaching parity with the euro and it just took era when the u.s. dollar that happened very recently and now it's at a thirty percent premium and look at this list right i mean the years imagine where the yen would be a debate if your pant hadn't flushed you quote a fifty billion dollars down the toilet last week to buy u.s. dollars and of course u.s. treasuries what is japan doing with all those dollars that are buying their blind treasuries because they want to but because they think there's a gun to their head but but they're mistaken so instead of paying somebody to hold your dollars sell your dollars and get into this was frank or get into gold and i've got about thirty seconds left i just want to go back and revisit the gold standard idea clearly as you point out what would the problem today's inflation and my return to golf standard you are coming back to it with something that will hopefully restrai

today is one of the last chances for the russian knights and the swiss to practice their new program ahead of the marks show performance. to show stopper the trademark nine plane diamond of two very different aircraft delighted meg's information. down from below the force jets looked in perfect sync but as the pilots touched down tempers run high among the. that's normal everybody cares we're all in the mood to work we all want to put on a great show. but these pilots don't think of themselves and the trainers they're serving officers the flying elite hand-picked from the entire ocean air force the best technology develops. a new was being abandoned in favor long range missiles and advanced trade. so. these demonstrations of piloting prowess just becoming a side show right. i don't think so at all the real war electronics could often be jammed so we would go back to who sees whom and how they can respond to the situation our skills will never become obsolete. and not to go again practicing for perfecting the skills only harmful in the world of old fashioned dog fights might not be as

and the swiss franc does against record levels. they try to ease the situation increasing the supply of liquidity. >> switzerland is a risk free shelter for their money. they see a swiss francs as a safe assets outside the troubled the bureau's own economies. that has sent the franc's value soaring. it appreciates to an all-time high against vero. now has lost ground after the national bank announced measures to counter the rise. they are dependent on exports, and because of the strong franc, the export experience is likely over. prices are dropping, and companies that don't lower their prices tend to lose their customers. >> a court has granted a temporary injunction averting a strike high air traffic controllers. a judge will hear the case late tonight. the solution to the conflict will not be possible without arbitration. the union is seeking a 6.5% pay raise. the company says that it does go ahead after all. >> a powerful tropical storm is picking up speed in the caribbean and they have put several countries on alert. it is set

that means anyone holding swiss francs on the account will have to pay interest. that will certainly hit home. it has already happened before in 1978. at that point, the franc weakened enormously. >> with the foreign currency still flooding into switzerland, markets are still wondering what the national banks will do next. analysts think it might pay the franc to the euro. so far, it has shied away from that. >> in a global survey, the global economic recovery is faltering. the slowdown is reflected in appraisals of the current situation, as well as expectations for the coming six months. the climate index fell to 97.7 in the first quarter, down from 107.7 in the previous three months. survey results are based on responses from more than 1000 experts in 117 countries. europe's biggest computer games fair got under way in cologne on wednesday. hundreds of exhibits tours are on hand from as far away as brazil, estonia, and vietnam, and china. they are all here because games are not just fun. they are big business. in germany, the industry expects sales volumes to re

the dollar lost more than 4% in comparison to the swiss franc just in tuesday's session. also, other sides of the commodity market, for example, sought a big drop. oil losing around 3%. with that, oil prices are down more than 20% just in a time frame of roughly 10 weeks. on the other side, we have prices reaching a new all-time high, gaining more than 50%. if gold is moving up, that tells you that the market is very nervous. >> thank you very much. time to bring up those market numbers for you. a choppy trade on both sides of the update. on wall street, the dow industrials still in positive territory. of almost 4% now. germany's dax recovered some of its earlier losses, finishing the day only 0.1% down. the euro stocks 50 closed up. a more promising day on european exchanges. and was up almost 2%. frankfurt was lagging behind. here's more from our markets reporter. that it was a roller coaster day here in the german equity market, after a relief from the start of the day, the benchmark index has lost more than 7%. but it could make good those losses during the afternoon

time and so did our country even though now we cattle in dollars euros and even in a small part of swiss francs or something of that kind since two thousand and two the us to some extent lives in debt to the entire world and that isn't right seen. such as the us managed to avoid a technical default but what was the threat to the whole world a us could lead to the vault it wouldn't have been able to repay treasury bonds it issues according to the limits set by congress to the ministry of finance or to the us government water the us president the government head so they wouldn't be able to replace them with new bonds in time. and what happens within the country if they reach a compromise to cut their expenses. no explicit connection to the situation within their country on the other hand the dollar exchange rate including cash immediately drops on the world markets and the exchange rate for securities traded around the world drops as well in spite of the fact they are issued by u.s. companies so they incur bookkeeping losses at the very least and perhaps even real financial losses to a lar

swiss market, which is playing catch-up to some of the selling we saw on monday, closed for a swiss nationalliday, that's off by more than 2%. so what with the u.s. manufacturing coming in very disappointing, a lot of uncertainty surrounding the future debt rating status of the united states and the debt problems, not only there, but also here in the euro-zone. really we're looking at a very, very weak couple of days, continuing to be a weak session on the stock markets here, andrew. >> yeah, very similar story in asia as well. a few stories also undermining stocks. almost all of monday's gains across asia reversed. relief other the washington debt deadlock has given away to gloom. the fundamentals are weak manufacturing out of the u.s., which hit exporters around asia, strong yen chrk is making life hard for the sector in japan. nikkei at 1.2. virtually 1.3% yesterday has now disappeared. likewise with hong kong shanghai down 1%. australia also down by 1.4%. there's also news out today, charles, that there's speculation that both china and india are planning to increase their interest rates

of the day his second of the season on a copy of he's back on track another of those four run homer swiss hit by russell martin in the next inning new york ten seven after this the bronx bombers farms could then put their feet up of us sold as the saying maybe a hot dog chewing enjoyed a historic ride in which would on for all curtis granderson making a twenty one eight swiss third grand slam in the twenty two nine would finish. the atlantic's world championships start on saturday inside korea on that will feature a first ever participant in an able bodied event oscar pistorius qualifying to race in the four hundred meter four by four hundred meter relay disciplines for south africa jacques rogge of those stepping blade runner participation in next year's olympic games is far from guaranteed. to this. vision of peace to the. peace we. really. believe that. the people we're. going to receive those. people from every person who is known to. all of you can be. with the final grandslam of the tennis season just around the corner the u.s. open players are busy warming up on the american hardco

money to spend to meet their basic needs and not making sure billionaires have enough money in their swiss bank accounts that's it for the big picture tonight and don't forget democracy begins when you get out there get active ted your it will see them.

franc this past couple of months but of course the swiss franc will top out at some point and gold will make a new all time highs against us was right soon enough so this is the dynamics of a collapsing debt bubble is these negative real rates of return that bill gross talks about and it's surprising that now it's even in germany so that's a huge pent up buying interest in european markets in. german market now will be flooding into the gold bullion market and taking gold to incredible new highs against the euro well yes max you kind of jumped the gun here for me but i was going to say gas and harrison there he was tweeting that germany hit negative real rates as well for the first time since one thousand nine hundred fifty seven part of it is the volatility of how things happen so fast in this financial including economic meltdown so here was bill gross being interviewed oh it was a tuesday morning and he's saying he was buying germany because there were real rates of return there but within a few hours of this article appearing in bloomberg and harris reporting germany is just going t

the world cup however the home team started the super final slow and that's because it lightly the swiss side for their euro league runners up in last year's tournament managed to upset the souls out improvise the show read out three times by the end of the first period their star player and look at what he must go striker deion stunk of scored a brace and he says he made borrero added the third she could have come to me it was obvious the two one to the top in the opening minutes billion we couldn't hold on to the bull and eventually conceded some pretty easy gills with thanks to which we were by far will come from the second i threw it on wards i think and achieved the result of the russians finally brought some joy to the fans in the first minute of the second period after scoring a penalty switzerland replied with a goal of their own a minute later but despite the disadvantage the home side managed to build on that first goal and equalized at the end of the second period it's not easy to play here against three thousand people and one strong russian team. but i think they make a good