bernanke to be the central bank chief to replace alan greenspan in particular he got very angry with timothy geitner who didn't support his nomination so this is what he wanted to be he wanted to be the polar bureau in chief the fat cat top smoking those obama dollars who's a fatter pig is it larry summers or chris christie i have to look that up who's the biggest pig but you know the fact is that larry summers and the readers editorials in the financial times are preposterous because you keep harping on about the same thing for years now we just need to increase demand increase demand increase demand by stoking the markets with more credit and giving people more means to borrow more money to go out there and demand never to as you say that there should be maybe a supply maybe a supply of manufactured goods for example maybe savings that would create capital for your capital's model he never talks about supply he only talks about demand and how to increase demand as if we're living on a planet that can support hundreds of millions of people in the us and billions of people around the world all deman

week she was trying to convince people that europe would be fine without pledging more money timothy geitner we did hear from today the u.s. treasury secretary i thought was pretty interesting he said that the two biggest issues facing the u.s. economy that will determine its outcome are what happens in the euro zone and whether or not the u.s. congress can agree on some short term solutions for the u.s. economy i thought this was quite interesting because although yes the eurozone economy very much weighs on the united states i've heard from italian economists for example that. the u.s. they're much more pessimistic about europe and maybe part of that is coming from the fact that it is an easy scapegoat for u.s. politicians to say oh what's going on in the u.s. is dependent on europe when in reality the u.s. has a major problems of its own a major debt overhang both private and public the fed has been very active in trying to reflate the economy but unaffected unaffected does bar high unemployment more than sixteen percent for people that either don't have work or want more work you know th

more excuses you have declared the abandoning of the ship now i am in charge now that's what timothy geitner that's what ben bernanke that's what george w. bush and then obama should have done as in control of the u.s. economy and banking system they said lloyd blankfein jamie diamond all you other sh'ma gagne's you have abandoned ship get off i'm in charge right have ben bernanke you better in charge of rescuing the cruise ship his solution would have been to take a boat out of the ship with a crowbar and make the hole in the boat and all the problems bigger that's the central bank solution to the global economic crisis is to make the whole bigger with artificially low interest rates this is what's making the situation even worse and of course in europe we find out they're going to expand the european central banks credit lines by a trillion euro that's the exact opposite of what is required to bring some of this accountability that you're talking about the maritime law stepped in people are drowning. don't go in there obviously dying so maritime law came in and said ok we have to impose th

big debate of finance ministers and the economic and monetary affairs for the european union timothy geitner spoke about the u.s. economic outlook there were just some big news making debates and so the first time that i'm in the congress center to kind of get everybody's response to you know how they felt about the comment that came out on the euro zone and and that kind of thing they kind of look at you with a quizzical. what are you talking about you know i it's just i was the most important thing to people when i asked them what you know what is the value in davos for you it's all the same kind of thing larry summers says you can see more people in one day than you can in a year you know that it's easier for the networking i was a u.s. politician a congressman said the same thing it's the one place where you can see all these heavy hitters and network that's really it also c.e.o.'s i talk to c.e.o. bill gross of ideologues and said you know he's here he has this new idea this new business pre-fab houses for india and he gets there and starts networking about it and suddenly out of custom

know standing on the ledge committing suicide so china looks at all of this right they see that timothy geitner the treasury secretary comes to them and tries to ask them to commit economic suicide china continues to buy gold in preparation of the end of the global dollar based ecosystem so mainland china gold imports from hong kong surged to one hundred two thousand seven hundred seventy nine ounces from eighty six thousand and october this is a twenty percent increase from the already high numbers seen in october and a four hundred eighty three percent year on year increase so they're getting ready for they know what happens when somebody jumps without a net. that's my agenda buy more gold china join me all the other countries join me buy gold that's my agenda this is my show kaiser report states ever thank so much thank you max all right that's it for this time but we'll see you soon so be there if you want to send me an email please do it so a car is reporting on t.v. that are you until next time nice guys are saying bye go. russia launches its latest big rally that he ran around in a resol

evening and welcome to capital account i'm lauren lyster here in beautiful snowy davos switzerland timothy geitner here today representing for the u.s. say the euro zone is one of the biggest the rights to the u.s. economy is or is it the distraction that is saving the u.s. right now i'll tell you all about it coming up but first here's dimitri in washington. thanks lauren and staying with europe for a moment the negotiation between greece and its creditors seems to finally be on the verge of a resolution at least that's what you finance commissioner olli rehn thinks beyond just about to call should you deal or no he would stick to involvement between the greek government and the private creditor community. of the kind of deal greece is a deep depression consumers aren't spending and businesses are investing and that's not going to change the most this bad debt underwritten by greedy banks and taken on by generations of the crowds and politicians that take it off the backs of the greek people why should they could do to suffer while bankers like jamie dimon claim as you did in a recent interview f

this is just one thing i mean the big kind of rallying cry of davos for leaders whether it's timothy geitner which is obviously not a european leader or david cameron or all of these officials from various different countries we need a bigger we need a bigger fire wall they need to boost the firewall there needs to be more money more bailout money which is something that angela merkel doesn't want she made that very clear at davos there is no greek deal that is essential the last thing we saw a european union official saying that. germany had a wanted to take over the budget of greece and then sarkozy said that's not going to work for obvious reasons that you know you can expect greece to hand over its sovereignty that's absurd that's kind of a crazy idea there is to say here in italy greece you deal with all of our spill and a lot on the right of that on a big debt it's your birthday getting you know excited right about the euro zone crisis i know a lot to get excited about let's talk about something you know you brought this to my attention today to we've heard with occupy wall street goin

week she was trying to convince people that europe would be fine without pledging more money timothy geitner we did hear from today the u.s. treasury secretary i thought was pretty interesting he said that the two biggest issues facing the u.s. economy that will determine its outcome or what.