fed is to over see the safety and soundness of our banks, and you made the decisionlast year that big foreign banks should no longer be required to participate in a fed program that was designed to over see the riskiest banks and the large institution coordinating committee, is that right? >> yeah, so it didn't change the -- >> so you are the one that said we're not going to do that. so at the time you justified dropping these banks from increased supervision on the ground that these banks -- and i have it here -- have significantly shrunk their u.s. footprint and their u.s. operations are much less risky than they used to be. closed quote. your timing, of course, was impeccable on this, and just a few months later it blew up and resulted in billions of dollars of losses to credits, and so once you told them they didn't need extra scrutiny before regulators, before that did you see any warning signs these banks had deficiencies in their risk management? >> the losses that you are referring to, the great bulk of the losses occurred outside of the united states -- >> a

he was prepared to reopen all of the healthy banks to the public. but would people trust that these reopened banks were safe and put their money back into them. fdr decided to go on national radio on the evening of march 12th to convince his fellow citizens to return their money to the banks when they reopened the next day. america's economic recovery depended upon their response now, let's listen together to a portion of that historic first fireside chat. pay attention to how fdr talks about complicated banking issues in simple practical english. note also his careful pacing and is reassuring tone. all the elements that made his fireside chat. so effective are apparent in this first example. these edited excerpts from fdr's speech will run about two and a half minutes. my friend i want to talk for a few minutes. the talk with the comparatively fuel who understand the mechanics of banking but more particularly with the overwhelming majority of you who use banks for the making of deposits and the drawing of checks. i want to tell you what has been don

safety and soundness of the banks and last year now made the decision that big banks should no longer be required to be in a program that was to oversee the banks. is that right? >> yes.yy9 although, it didn't change the -- >> you're the one who said we're not going to do that. so at the time, you justified dropping these banks from increased supervision on the ground that these banks, and i have it here, have significantly shrunk their u.s. property print, and their u.s. operations are much less risky than they used to be, closed quote. your timing, of course, was impeccable on this, just a few months later archegos blew up, and resulted in billions of dollars of losses to credit suisse. now, before you told the banks like that that they didn't need extra scrutiny from regulators, before that did you see any warning signs that these banks had some deficiencies in their risk management? >> yell, the losses -- well, the losses occurred outside the united states. >> yeah. >> are you saying losses outside the united states can't affect operations inside the uni

that should not do favors for the biggest banks. you work for the american people to stand in for workers and families to create a better economy to work for everyone. >> senator? >> thank you senator brown and the vice chairman you have a great deal of independence to isolate and influence the power of congress also given the fed narrowly defined monetary and regulatory missions. in the regulatory domain the fed has the authority to ensure the safety and soundness of the financial institutions it regulates. it does not have the authority to seek out and address theoretical risk in the distant future. the fed's recent actions raise concerns. consider the increasing focus on this oppose the risks of global warming to the financial system. in march, a distinguished economist at stanford argued before this committee "climate change poses no measurable risk to the financial system". neither the warming of the temperature or severe threats to the system and experience bears this out in the last 11 years the time. that included four out of

chris whalen of whaling global advisors, talking to us about the bank, the inefficiency in the bankingystem due to regulation. we have some breaking news, which is pretty jaw-dropping to be honest. an activist investor at exxon, with a small stake in the company, has won two board seats in a shareholder vote, and he really goes to growth in esg that alison williams was talking about in the banking sector, but really it is across industries. it is across societies, and nowhere could it hit harder than potentially in the big oil complex. integrated oil like exxon has been trying to navigate these waters, incredibly difficult when fossil fuels are your main source of profit. but we have just seen, at the agm, engine number one, a little-known firm that falls into the spotlight at the end of last year when it began agitating at exxon to come up with a better plan, to fight climate change, it has won two seats on the company's board at the annual shareholders meeting. we are going to talk more about that throughout the program. this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt

about a quarter of the bank's revenues. , jennifer has been at the bank for 27 years. lately she's been working on the consumer business. she jumped to the consumer business from investment banking in 2010. manus: what we want to understand is whether jamie dimon is any closer to the exit. he hasn't really shown any great impetus to run out onto wall street and say bye-bye. >> absolutely, and that is the big question. he's always had a stock answer when people have asked if he was leaving. he's always said it will be another five years. he is absolutely a rockstar ceo. he's the only one remaining from the credit crisis era and he help navigate that really well. j.p. morgan chase has quadrupled under his watch. you can understand the bank saying it will be a significant amount of time before he steps down. but he is 65, so perhaps the clock is finally taking on the last five years. annmarie: what struck me as the timing of this. next week all these executives will go down and testify to congress. how significant is this move

you see the norges bank, the bank of canada, may be the reserve bank in australia, and know the boe cuttingut that easing bias. guy: i think this is the start of a process. i think we can probably look at it that way. they are just stretching it out little bit longer, making it last a little bit longer. therefore, it has less impact on a day-to-day basis, but over a long period of time, it allows the u.k. economy a more even glide path in terms of the recovery out of this pandemic. we are still really only reopening. we are still not fully open here in the u.k., so we still haven't fully felt the effects of the easing process. the services data today was superstrong, but nevertheless, i think the expectation is the data are going to pick up and get better. they are talking about really strong growth for the u.k. economy. that is a number that we haven't had for quite some time. jes staley was talking about this over at barclays a few days back. the big question, is that commensurate with u.k. 10 year at 78 basis points? that is a big question for the market to answer. james athey, director

the question the bank of england . the question the bank of england will he _ the question the bank f, and - the question the bank of england will be asking itself, and do - the question the bank of england will be asking itself, and do we . will be asking itself, and do we need _ will be asking itself, and do we need rates _ will be asking itself, and do we need rates to _ will be asking itself, and do we need rates to be _ will be asking itself, and do we need rates to be a _ will be asking itself, and do we need rates to be a little - will be asking itself, and do we need rates to be a little higher| will be asking itself, and do we . need rates to be a little higher to contain _ need rates to be a little higher to contain inflation? _ even with inflation at this level, it's serious for more than seven million people of working age who receive benefits. because their payments since april have been uprated based on inflation back in september — they're only rising by half a percentage point. so prices are once again rising faster than their payments — making millions of the poorest

- the importance to banks, with the investment banking boomed with the corporate issuance, et cetera, it happens in the first quarter, particularly, maybe a little bit over into the second quarter, but is probably not going to be replication a ated given the s.e.c. come down . >> remember, they struggled overall it was a risk environment and these have outperformed why wouldn't they get knocked down when people are running for the door that's part of the move. yes, net interest margins, people who never followed the 2/10 spread got fluent and yes the curve is steep and dramatic off the lows of covid, as it probably should. we also said early in covid when banks were under performing we'd have these battles on the desk, always friendly battles of course, but were the banks representative of the real economy or was the market? because the banks in many cases were under-performing dramatically so again, i think the broader economic story that is been very supportive and obviously not only unlocking all of this pent up demand but truly a case for the next 6 to 9 months we have

you know the banks issue bank money the federal reserve issues reserves and now what we're seeing is indications that the fed is going to start using those reserves or using its issuing power to connect with ordinary people and as you said that really short circuiting out the banks with that and that's really a radical departure from 2008 when the banks were sort of part of the solution now the fed is stepping up and putting the banks out john we're going to have to cut it off air have you back on soon to talk about this stuff thanks for being icaza report thanks max all right and that's going to do it for this edition of kaiser report with me max keiser and stacy herbert want to thank our guest john titus until next time by oh. is your media a reflection of reality. in a world transformed. what will make you feel safe from. the isolation community. are you going the right way or are you being legs up with. direct. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. or remain in the shallows. if you want when you can for both of us with t

branches. 20% of bank closings since 2010 is the only bank in the census track. the fed's job is to make sure we have a strong banking system that includes access, the strength of local communities and includes access to banking services a, and we know if there's not a bank in the neighborhood often, these are often low income areas low and urban, people are much more likely to turn to an unregulated high interest charging financial service entity. my time expired. senator toomey, you're recognized. >> thank you, mr. chairman. as i mentioned in the opening statement, there are a number of troubling signs that the fed is attempting to get in the business of environmental policy. as you know, the fed's regulatory role is to ensure the safety and soundness of the financial institutions that it regulates. let me ask you a simple question. i think this is probably a yes or no answer. are you aware of any banks that failed due to superstorm sandy, hurricane andrew, the california wildfires, or any other recent weather event? >> no, i'm not. >> i'm not either. and you

we last had all of the mega bank ceos to testify before the committee in 2019. since then, there have been many developments involving mega banks that this committee will be examining today. i'm eager to hear about the mega banks' response to the pandemic crisis, including their provision of mortgage forbearance, affordable loan modifications, support for extending the foreclosure moratorium, and paycheck protection programs loans. i'm concerned that the institutions led by our witnesses raked in billions in overdraft fees during the pandemic at a time when so many individuals and families across the country are struggling through no fault of their own. additionally, some of our banks prioritize wealthier clients for ppp lending while processing smaller loans at a much slower rate or in some cases turning small and minority-owned business away altogether. we heard so much about this all over the country. also, ask our witnesses to describe their institutions' efforts to reach underserved communities and address banking deserts where communities do not have access

that means edd gives the bank the taxpayer funds to distribute and the bank in return pays edd for the privilege of handling the money. so it's profitable for both bank of america and edd. back in march of 2020, before the start of the pandemic, edd received $290,000 from bank of america. in may, that shot up to $2.4 million, reaching a peak of $5.7 million for the month of september. >> oh my gosh. actually, i didn't know those numbers, so, you know, it's time to really review what we're doing. >> good boy. >> reporter: back in san francisco, robert leonard and his side kick alby just w their thousand dollars back. and after calling kpix 5, they got it. >> son of a gun, i got a call this morning. so that was a good thing. and i thank kpix channel 5 news. >> reporter: once again, bank of america turned down our request for an interview, but says that it is looking forward and welcomes the opportunity to meet with the plaintiff and the judge. that happens later this week. ken and liz? >> kenny, do we have any idea how many people have received refunds at this point? >> reporter: liz, we

haidi: let's take a look at the bank of japan. the governor backing the feds transitory view on inflation and you can hear our excuse of -- our exclusive conversation. vaccination speeding up in victoria. catherine bennett tells us it's time to drop the phased rollout. this is bloomberg. ♪ vonnie: you are watching daybreak australia. u.s. covid death fell over the weekend to the lowest in months. johns hopkins university and bloomberg figures of that show the u.s. added slightly more than 12,000 new cases. does the fewest since the early days of the pandemic last year. deaths from the covid-19 virus have declined consistently as the vaccination campaign to cold. to u.s. disease experts say china's help is needed to chait -- to trace the origins of covid-19. the commissioner under the trump maturation said information supporting the wuhan lab leak theory has increased. he says beijing has not provided information to disprove it. another expert says not knowing how the virus started puts the world at risk of future outbreaks. preside

the bank expects pre-bank costs of $100 million from the transaction. hours a day on air and at bloomberg quicktake, powered by 2700 journalists and analysts in 120 countries. this is bloomberg. manus: thank you very much. activist investors are interested in getting into the cryptocurrency and a big way. he may put as much is a billion dollars in two the alternative currency. he spoke to bloomberg on main stocks and more. take a listen. >> all kinds of activism get on the board. we've done it innumerable times. a lot of times, successfully. to go in there and make changes. a lot of these companies have hidden jewels in them. the board of management doesn't want to do anything about them. that is activist going in. you have assets that are not producing enough. you want them to do so and it adds value. that's what it is. >> it's important to add value right now when we have an economy running pretty hot. as the economy in the u.s. running too hot? what you make of this inflation debate? how much are you currently hearing? is inflation transitory or not?

head of you know the central bank of canada and he notes that the trudeau government is borrowing 3000000000. dollars a week you'll never guess how much the central bank is printing per week so he asked the central banker how much quantitative easing they were currently engaged in and the guy made it to $3000000000.00 a week and this canadian member of parliament was like how convenient because we're also borrowing 3 value no week right so again this is confirming on a global basis from different governments and different politicians are waking up to the fact that the central banks are printing with the stated goal of helping the unemployed and to stimulate the economy. and as politicians and corporate c.e.o.'s are pointing out that stated goal is increasing unemployment and increasing the loss of purchasing power and increasing the plight of poor the poor but it does help those who are asset holders they are becoming fabulously rich so the split between rich and poor is growing spectacularly and in that video it's amazing because the politician points out the obvious failure by t

we have on our hands feeding the racket starving the racket feeding the racket is essential banks feeding the grift of this whole global ponzi scheme fee a ponzi scheme has been going on for 50 years now since 90 $71.00 and a big point is starving the racket we're going to start off with this story out of korea this is next on which is a $30000000000.00 gaming company and nick carter tweets a link to their statement on why they bought $1717.00 but klein and one posting isn't just for corners and gold bugs $30000000000.00 korean kugel armor do it too and with government spending and debt levels so high even a small rise in interest rates would make paying down the debt even more difficult than it already is so central banks have been increasingly monetizing the debt printing money to loan to the government in the form of buying government bonds at low interest rates since january 2020 the u.s. has printed 40 percent more u.s. dollars than previously existed we are not privy to conversations at central banks or departments of treasury but we foresee no end to this in the near term and then

come out of the this low rate environment, banking should be among the biggest beneficiary so banking has been a big beneficiary of that. should they be a big beneficiary of rising inflation if it doesn't rise too much too fast >> absolutely. we're going from nonexistent inflation, and a bit of higher interest rates, and more normal yield curve would go a long way. in fact, tyler, let me sum up, you talked about how well the bank stocks have performed we think they have a long way to go this is a great time to go a bullish investor i will sum it up as the five cs, one is the yield curve as you're already talking about. another is credit quality is improving much faster than many had expected the third would be capital markets, which are stronger for longer the fourth c is the return of capital and the expectations of higher different payouts that should happen later this year the fifth c, is what gets my excited, having covered the industry for three decades that would be cost tyler, i will give you the conclusion of my -- our bank conversation this week before it even take

you know the banks issue bank money the federal reserve issues reserves and now what we're seeing is indications that the fed is going to start using those reserves or using its issuing power to connect with ordinary people and as you said that really short circuiting out the banks with that and that's really a radical departure from 2008 when the banks were sort of part of the solution now the fed is stepping up and coming to banks out john are going to have to cut it off they're having back on soon to talk about the stuff banks are being icaza report thanks max all right and that's going to do it for this edition of kaiser report with me max keiser and stacy everett want to thank our guest john titus until next time by oh. well the pandemic knows you know blood is. on the t.v. . the summary we don't have with you we don't have the facts in the whole world needs to be. judged as comedy classes but is this sentence. better we should. everyone is contributing way but we also know that this crisis will not go on forever the challenges created with the response has been so many good peo

land in the west bank so 65 percent of the butler of the west bank territory is under israeli direct military control the control of the israeli settlements which are living in the last oh now palestinians in the west bank continue to face discrimination continue to face its israeli checkpoints and also the reality of the wall the wall and the occupation have taken over palestinian areas or is in the west bank including i get a cut or resources of natural resources. this is this has been a difficult challenge for probably since we also have to remember that in the west bank there are more than. $500.00 israeli checkpoints which couple if any of the from each other not israelis from palestinians but really cutting off palestinians from palestinians. that is a goal if we move. to the 3rd group which is the 3rd palestinian national group which is in jerusalem in which are 7 palestinians have been facing a systematic policy since $967.00 on the occupation of youth jerusalem they have been facing that systematic policy of home infliction and demolitions and discrimination in including sen

euros now the flourishing securities business has driven the turnaround the bank has also benefited from money injections by the european central bank but cuts are still likely with one in 3 employees in germany expected to lose their jobs in the coming years now our financial correspondent conrad booze and is covering the shareholders' meeting for us conrad good morning to you there in frankfurt 2 more figures here 8000 jobs are on the line the number of branches to be haft will this get the thumbs up by comments from shareholders today. there is no doubt you know chris the german government still owns about 15 percent of the shares of comments on another 42 percent is held by institutional investors together they really hold a very comfortable majority and from none of these investors came any objections against the plans of the job cuts which were communicated by clematis bank recently you know chris since comments bond took over another large german bank more than a decade ago dress not bank. many jobs have already been cut but since then the bank has not managed to become profit

as it turns out, the four largest banks in the world are state owned banks from china, and the fifth largest by a small margin is japanese. so the more the banking -- so before the banking committee ties itself in knots over the controversial issues today, i would encourage everyone to remind themselves that we are all americans. we have a collective and strategic national interest to having a team of banks that are locally active and international leaders, but who are, above all, american. the last thing any of us should want, at least any of us that want to see a global banking system run by the chinese government. that is the road we will be continue traveling down if we keep disparaging these firms while china, japan, and others run circles around us. mr. dimon, i would like to preface my first question to you, sir. as of last month, the consumer prices have been increasing by more than 4% year-over-year, to a level of inflation we haven't seen in more than a decade. i am concerned at the government's role in making this problem worse. can you share your thoughts on the level of

protests across the west bank as anger grows over the israeli occupation and the offensive on gaza. television on sun summary here in doha with continuing coverage of developments across the middle east families inside the strip speaking of terror and chaos as israel's bombing campaign forces dozens from their homes fires hundreds of rockets in response there is a threat of a ground assault looming as israel mobilizes tanks and thousands of troops at its border with gaza. and in other news several indian states look overseas to buy their covert 19 vaccines the number of infections climbs about 24000000. again in the occupied west bank 4 palestinians have been killed by israeli security forces this morning we're looking at 4 different locations for you right now top left ramallah where those protests have only increased in the past hour since we were on a protest against the israeli occupation and what's happening of course in gaza as well bottom right for you is bethlehem where protests many of people gathered for peaceful protests in. after friday prayers but that anger as we say o

the largest banks in the world are state owned banks from china. so we put a banking committee tying itself in knots about the issues today. i encourage my colleagues to keep in mind that we are all americans as are the firms represented here. we have a click to be in strategic national interest in having a team of banks that are globally active and national leaders, who are above all american. the last thing that any of us should want is a global banking system run by the chinese government. that is the road we will continue to travel down if we keep discouraging these firms while china, japan, and others run circles around us. mr. diamond, as of last month, prices have been increasing over 4% year-over-year. this is a level of inflation that we have not seen in a decade. i'm concerned that the government's role could only be making the problem worse. can you share your thoughts on the outlook for inflation and what public spending and -- what effect public spending and monetary policy are having? >> i appreciate your support in america's large su

horta should reconsider the swiss bank. ve some possibility for the other division the independence of the credit suisse, switzerland, is key. >> you mentioned mr. horta coming in as the new chairman. you are placing hope in what he can achieve to turn around the bank his background is retail and mr. gottstein's background is investment what will that play out? >> i think it is a diverse view. that is positive when you have the constructive dialogue. all of the board members with a strong background. i think the decision has and this person has to be taken at board level. of course, discussed with management i think they will have a very animated exchange of view. i think now credit suisse has all of the cards in their hand to make a good decision. a lot of work has to be done also on the risk management side we saw a lot of weaknesses and we expect the board to know why it didn't play out before any strategy call decision, we need to know what went wrong at least with archegos and risk management why the red flag was not ob

will perform as well as the banks did in 2020. otect the american people. that will give us a financial system that supports the real economy and dried the predators out of the system. -- and drive the predators out of the system. that too will help our markets and main street. amanda: dennis kelleher, founder and ceo of better markets, appreciate it. coming up, some of the pandemic trends in housing are surprising. will they continue post pandemic? we are talking to brittany murphy, ceo of housecanary. ♪ amanda: this is bloomberg markets. i am amanda lang alongside matt miller. one of the surprising things about this pandemic is how trends affected inventory levels of housing and where people want to live. brittany murphy joins us. in terms of the trends you are seeing that you think might be lasting, are we going to see this boom continue? brittany: we do. i want to talk about the drops in the supply, which is causing the supply and demand analysis we are seeing in the housing market now. over the past year, we have seen a 33% dr

you know the banks issue bank money the federal reserve issues reserves and now what we're seeing is indications that the fed is going to start using those reserves or using its issuing power to connect with ordinary people and as you said they're really short circuiting out the banks with that and that's really a radical departure from 2008 when the banks were sort of part of the solution now the fed is stepping up and putting the banks out john we're going to have to cut it off there have you back on santa talk about this stuff thanks for being icaza report thanks max all right and that's going to do it for this edition of kaiser report with me max keiser as they are to thank our guest john titus until next time . ready to work for you can put up a little bit. to do good they see a major overhaul. just to keep the interest. force ninety's through you but i see no reason to get the white. flesh a little fish not go for it it's the beautiful bill the mortar should be out of these that the. bullet was a skilled workforce and the she beautiful was a ball of the wood school that once th

the increasingly fraught banks about the way they are approaching fossil fuels. >> banks are what youeen called the money line for fossil fuels, they have great contributions to climate change that come through commissions related. that is where they make a contribution, the finance. it is important and notable that you have most of the big banks, including those that are top in underwriting this, all of those banks, jp morgan, citigroup, exceptional -- citigroup, etc. have suggested they will pay an active role in the weight they finance things to support the transition to green. there are quite a few questions to some of their commitment, the pace in which they are going. the climate clients suggests we are there by 2050, only if we cut emissions in half by 2030. that is only nine years away. that would mean that baby steps, the way we care about climate is not enough. the economy in general will reach net zero and have to do a lot of things right now. this is a welcome sign, but lessee how we do. anna: absolutely. one to keep under review. we will keep our eyes on that. coming up,

. >> the ceos of the nation's largest banks testified before the senate banking committee, about operating practices including the response to the coronavirus pandemic. we were also asked about the pay gap between executives and employees, leadership diversity, and opposition on political issues like voting access. this hearing is just under three hours. how you come of the nation's largest financial institutions use other people's money. you are the six most powerful business leaders in the country. your decisions affect the lives of millions of americans, their paychecks, their opportunities, their retirement savings. your power is so much greater than that of your predecessors, 30, 40, 50 years ago. create and they are working harder than ever. we have a route -- racial wealth and income gap and in the aftermath of the 2008 recession where millions are their jobs, wall street made record profits in a pandemic or half a million americans died, we have the highest unemployment, wall street still made record profits. i sense a pattern. like most americans, i want businesses to make money.

>> the ceos of the nation's largest banks testify before the senate banking committee about their operating practices, including their response to the coronavirus pandemic. they were asked about the pay gap between executives and employees, leadership diversity, and political issues such as voting access. this hearing is just under three hours. >> stock prices are soaring, your own compensation as a stratosphere, the workers are getting a smaller share of the wealth they create and they are working harder than ever. we have a route -- racial wealth and income gap and in the aftermath of the 2008 recession where millions are their jobs, wall street made record profits in a pandemic or half a million americans died, we have the highest unemployment, wall street still made record profits. i sense a pattern. like most americans, i want businesses to make money. some people will be wealthy, that is fine with me. here's the problem. under the current system, wall street profits no matter what happens to workers because those profits now come at the expense of workers. your banks are what build th

they are amazing they serve the bank of the underserved.hey do this fantastic on covid nobody was better. well capitalized done great things. some fear crypto oh, my i wish i could be a banker because then i could be sainted. and i'm not even in that, you know, i'm not co-religious but saying to people, i think i would make it. >> and we should point out to people who are familiar with sarcasm, that you are doing that. >> have you read them? >> i haven't. >> if you read them, i don't think there is a single, david, they checked every box >> well, listen, they're going to come under criticism, you know that, they always do, they always will, and always interesting to listen to jamie dimon in particular who tends to be fairly outspoken on many in issues i hope they ask about inflation. >> they think it's under control. >> not all of them. >> am i being facetious? yes. but when you read them in toto, they are all great, and charlie sharp is not going to say i inherited a really bad bank with very little regulatory control and i've turned it ar

from the west bank cannot have the right to live in east jerusalem. the law prevents them from doing this. >> where does it leave the future of the relationship between israel and palestine? the international community has been saying that the expansion of settlements is the biggest threat, and it is approaching the eu, which said this is something that will cause further damage to the prospects of a viable palestinian state. how do you see the future? >> first, we have a law the palestinians cannot emigrate from the west bank into jerusalem because the number of palestinians that want to move from the west bank into jerusalem in such high numbers they cannot be swallowed by the jerusalem area. he asked the question why they want to immigrate because things are so bad in jerusalem. second, the issue is not new. the palestinians were against the immigration of jew into their homeland since the beginning of the 19th century. the palestinians did not accept the decision of the united nations. that caused the beginning of the war in 1948, which has ended

the west bank doing the heavy lifting as israel and one of our gaza i think the west bank and east jerusalem could go up in a measured up evil once the biggest thing in factions not to be a fight with major organizing or going to station structure it that it's not it's if they step in and take up the mantle if you will. the previously was sort of the popular peaceful struggle against occupation then we want to see another or a 3rd uprising happening. we were talking a little earlier on the news program that you joined us on to medical spokesman for the health ministry in gaza and he was saying yes lord with egypt being open tomorrow for humanitarian purposes is good news is not enough good news but it's a help because our people are tired despite calls for a stepping back from where we are at the moment is that what's got to happen for tea not just in gaza because clearly that's what israel wants to get to but also for t. and tiredness people are tired of this but they need to be tired in israel so netanyahu and hamas react to what's being said and felt on the palestinian street on the israe

how about the federal reserve bank where the federal reserve bank they say they've got something like 7 or 8 trillion dollars of the baskets on their balance sheets the resale value of those assets is is is maybe maybe $0.50 right because that's being very often right because they technically those those assets of 0 value they if they put them on their books at $0.10 on the dollar but they had to buy him from bankrupt institutions they would have had to declare bankruptcy like j.p. morgan instead they swap to the insolvent junk on their balance sheets for fresh treasury bills liquefying the banks like warren buffett that's how he made his billions stealing from america and they put it on the fed's balance sheet until such time as it like is a huge warehouse full of a loafer. all nitrate plutonium in $13.00 sitting next to a fireworks factory right at some point those 2 come together and go boom right but the ordinary people you're going to love this is the phase of a ponzi that you love you don't say no to this right how do you say no to this your income collectively everybody around

we need to bring together the bank of england, the treasury, ourselves to say what are we banking on rms of driving growth in a next decade, and where will the money come from? what is the role of government, the private sector, the city of london in financing all the green investment we will need in a decade ahead. i am confident the city will rise to that challenge. anna: does money have enough flexibility where it is invested? one of the things you are calling for is unlocking finance for growth and investment. sometimes we speak to investors who expressed frustration that pension funds are restricted in the investment they can make in the real economy around infrastructure. how much of a blockage is that? tony: i think that is fair, there is a lot of concentration on that point. we need to do the basic exercise. bankers call it sources and uses, what are the uses of the money? the government's plans are banking on infrastructure that will crowd finance, or the r&d targets at 2.4% depends on private finance. i do not think we together have a granular sense of what it the money is f

and step now in about the central banks is all the central bank there's a recurrence you know we seen the ramifications of large scale tech companies having the ability to sense the speech right and speeches the stuff that you just say out of you know whatever i'm sansweet of this that wherever it's imagine an organization having has that it's a sense of your human action so there is no fundamental form of speech than human action which is the things you do so i always say to people it's like don't tell me what you believe show me a bank account and i'll tell you what you really write so people do what they believe through their actions and their actions measure through where they spend their money what they do it on the central bank digital currency the issue of will have the capacity to decide when you should spend how you should spend for what reason you should. and how much you should spend on what it's ridiculously you know china's trialing their version of they're going to pay and expire each day to your money so that they can stimulate spending did do people will not see t

the o.c.c. true lender rule. many state banks have innovative and thriving partnerships with nonbank lenders today. the o.c.c. true lender rule will cause those partnerships to shift to national banks. why would a nonbank lender choose to partner with a state bank that lacks the legal clarity of a national bank or savings association and the preemption that follows federal law? i do not believe they will. there would be a great deal of legal uncertainty for them because of state consumer protection laws in many of the state bank partnerships we see today in the marketplace lending arena may disappear as the nonbank lenders naturally gravitate toward the greater legal clarity of national banks. this rule, in effect, would make these innovative partnerships the domain of national banks, rendering state chartered banks to be more like second-class institutions. that has not been the will of congress in the past, and i don't believe it is today. a prominent law firm noted in january of this year that, quote, for institutions that par

: 10 minutes away from the presser from the bank of korea. to tliv for the analysis from commentators and guests and editors about what to look for after we did hear the central bank raise their outlook for growth and inflation this year while keeping rates at a record low. it has the economy growing at 4%, up from 3%, and these inflation at 1.8%. let's get reaction from deutsche bank chief asian economist juliana lee. they are staying accommodative, they say. what are you expecting in tone and language from the governor? what guidance do you think he is going to have for the coming weeks and months? >> i think tone is very important. at the moment i think a lot of central banks have difficulties in the balancing act. on the one hand, they see the recovery as far as the data is concerned and have upgraded the forecast. at the same time, they need to valiance -- to balance that with covid cases globally and the downside risk. they are trying to manage that expectation as far as the actual rate hike is concerned. unlike new zealand, we thi

of korea was the first major asian central bankraising rates after the fed made its first rate hike in 2015 so people are waiting to see, could this happen again? once the fed starts moving towards its normalization, will they be the first to follow? upgraded economic forecast. maybe they will move sooner. maybe they will be ahead of it. who knows? there is so much focus on these forecasts and what the bank of korea says at the press conference. >> kathleen hays with a preview of the bok. we are getting breaking news on the climate front my hearing that australia's government and one of the country's biggest producers of fossil fuels has now won that court battle in the federal court in melbourne against a class action that was launched by a group of eight teenagers aged 13 to 17 and an 86-year-old nun who was seeking to block a mine expansion. it was a common-law duty for the minister to protect future generations from climate change harm. the ruling paves the way for the environment department minister to approve that development