u.s. money reserve. r director of the united states mint. as one of the largest u.s. gold coin distributors in the country, u.s. money reserve has proudly served hundreds of thousands of clients worldwide. there may have never been a better time to start diversifying your assets with physical gold and silver. and right now it's easy to get started. pick up the phone right now. call to receive the complete guide to protecting your hard earned assets. don't put it off another day. the call is free and you'll speak with one of the u.s. money reserve account specialists who will get you your free information guide in the mail right away. - i enjoy buying gold. gold has protected me. i feel comfortable when i got involved with gold and it's something i could physically touch. i have it and i have it secured. of all my years involvement with buying gold it's only gotten better in my faith in the company, u.s. money reserve. that's the company i do business with. and i don't see doing business with anyone else.

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u.s. money reserve is one of the most dependable gold distributors in america.ith a nice rally. dow jones up 172. lesser rally for the s&p and the nasdaq, but still in the green. more news on amazon, we need the nsa-- it was reported that they got the 10 billion-dollar cloud computing contract from nsa, but microsoft we understand is challenging that. susan: they filed a protest with the federal auditor over the 10 million-dollar contract that reportedly was awarded to amazon don't forget this goes back to the jedi contract, the $10 billion pentagon contract that originally had microsoft winning that amazon jeff bezos went into contest so microsoft i guess that if they did that we will do this as well. stuart: the politics of a 10 billion-dollar contract are interesting. susan: testing a secret cloud contract. stuart: not so secret. this one is for you. pay attention. that is an audi sky sphere, a concept vehicle. it's a little dark right there, but it looks like darth vader would buy that. susan: beautiful, i think. you don't think so? stuart: okay. susan: batm

reserve. the bulk of transactions by value that u.s. households and firms make each day use commercial bank money as the payment instrument. under current law, the federal reserve offers accounts and payment services to commercial banks. these accounts provide a risk-free settlement asset for trillions of dollars of daily interbank payments. importantly, the use of central bank money to settle interbank payments promotes financial stability because it eliminates credit and liquidity risk in systemically important payment systems. congress did not establish the federal reserve to provide accounts directly to the general public. the federal reserve instead works in the background by providing accounts to commercial banks, which then provide bank accounts to the general public. under this structure, commercial banks act as an intermediary between the federal reserve and the general public. the funds and commercial bank accounts are digital and can be used to make digital payments to households and businesses -- to households and businesses. the commercial banks promise to redeem a dollar in one's bank account into one dollar o

u.s. is a global reserve currency and the federal reserve can and has printed money. it creates money by buying government securities from the broad public or from the banks themselves. it can pay for those securities by creating the money to pay for those by creating the liability on the bank's balance sheets. they would be able to create money, print more money to fund the war. secondly, i would assume that the government would impose taxes on individuals in the united states to help pay for that war just like they did in world war ii. they would collect that money and that would help pay for the instruments of war that were needed to defend the country. there are those two at a minimum. as we have learned in the past, think about it this way. the amount of debt since the beginning of the pandemic that the government has issued and taken, has gone from $23 trillion to $28.5 trillion. the balance sheet of the federal reserve, in terms of its assets, in terms of securities and mortgage-backed securities have increased from $4 trillion to $8 trillion. the federal reser

money. those reserves are still frozen by the u.s. the country runs on about 80% of its budget made from foreign aid. that's got to get flowing pretty fast. now, i know that the taliban hasn't declared its full government yet. that's going to take another 24 to 48 hours, and perhaps some of this international aid will start coming in after that. but they're also going to have to show through their actions that they can govern in a humane way before they get the money they need to keep the country going >> all right. kim dozier, peter zwack, general peter zwack, thank you both. >>> well, no power, no clean drinking water, little to know gas and add to that no air conditioning in the middle of summer. why it could be weeks before life returns to normal for louisiana residents. >>> minutes from now president biden is expected to address the nation on the end of the war in afghanistan. xing again. that's not all. you can extend the bed for longer stuff. is he still... still flexing. that's right! and, it becomes a workspace... you can put

u.s. dollars that matches the maturity of money. i can think of one place that provides that called the federal reserve but i can't think of any anywherese and do so by definition while i'm on that topic, history shows the temptation to run overtime for a private sector is basically what the bank of amsterdam was and ultimately how credible is that commitment. in the 1600s ultimately they end up not just writing a mismatch but people realize the bank of amsterdam bills have risk associated with and they previously had the goal that had been deposited there so that is a real concern. in the end ultimately it will stretch the money for nothing type of approach and in the end why wouldn't you just have at the central bank if you will have a stable point why wouldn't you have your own digital currency and now there's other forms that i suspect is where this will go. the context of what's happening there is a series of crypto assets of varying degrees and purposes. some of the most interesting ones are those that are specific gaps in the system they are doing it in a way that serves a role so it is legitimate that two can play a role. some

money held up. the u.s. can say you don't have access to your central bank reserve.ern and not just hold territory this time, but those are carrots, there are not a lot of sticks if they don't lead up to those consequences. >> the white house, the pentagon, where does the actability fall? >> it is on every one of those institutions and joe biden as a president. when you're the president and it happens on your watch, you're ultimately accountable. i think we have to have some perspective here in is a 20 year war. this is what the withdrawal looks like. this is what it looks like, it's messy and awful. the people that we have to deal with who are taking over, other people that we were fighting, and we don't like it at all. and it is not a pretty thing to look at. it's a tragic thing for a lot of afghans. for a lot of people, for the 13 service members that lost their lives and their families, but it doesn't, you know, it is not pretty. his was not pretty no mat what happened. >> we didn't say we lost the war. this is what it says we look like. and he decided to leave i

u.s. dollars that matches the maturity of money which is instantaneous. i can think of one place, the federal reserve and i didn't think of anything else. and one mismatch. while i'm on that topic, history shows, bank of amsterdam being an example in the book, and a mismatch of the stable coin, which the bank of amsterdam was, and how credible is that instrument? >> and what-- >> 1600. and ultimately they become a stock because not running just a mismatch, but they lend to the dutch east india company and realize that the bank of amsterdam bank has a risk when they were backed by the gold and silver there. there's lots of concerns with stable coins and that's one of them, which is in the end they'll get a new cfo and new treasurer and money for nothing type approach and in the end, why wouldn't you just have as the central bank, if you're going to have a stable coin, why wouldn't you have your own stable coin which would be a central bank digital currency that is tokenized. there's other forms, which is account based which is where i suspect this will go. that's -- the coin text of what's happening w

u.s. dollars that matches the maturity of money which is instantaneous. i can think of one place that provides that called the federal reservean't think of anywhere else. by definition yet some mismatch and just want him on that topic, history shows bank of amsterdam be the example in the book where the temptation to run a bigger and bigger mismatch overtime for private sector stable coin which in the end was this little with the bank of amsterdam was is just too great and ultimately how credible is that commitment. [inaudible] >> 1600s. it ultimately, they end up not just running a mismatch but to lend it to the dutch east india company and people realized the bank of amsterdam bills have risks when they previously were back one to one with a gold and silver that had been deposited. that's a real, there's lots of concerns with stable coins but that's one of them which is in the end will get a new cfo, new treasure, ultimately they will stretch money for nothing type approach. and in the end why wouldn't you just as a central bank is going to a stable coin, why wouldn't you have your own stable coin which be a central bank d

money to fight food insecurity here in waldo county. to do that, french used her signature reservation system. some 20,000 people around the u.s.other countries apply each year by postcard, some quite fanciful, to have their name drawn for a coveted table. french asked them-- people well-off enough to pay $190 per person, plus tip, tax and wine-- to include a few dollars for the aid fund. she's raised more than $330,000 to date. >> i need to give to my community. i need-- i didn't grow up this way. last summer, with husband and business partner michael dutton, french built three small cabins in the woods for isolated dining. soon, she'll open for outdoor meals. and, playing it safe for now, hopes to open the lost kitchen indoors by summer's end. for the pbs newshour, i'm jeffrey brown in freedom, maine. >> woodruff: and please explore all of our arts and culture coverage on our canvas website at pbs.org/newshour/arts. >> woodruff: the 19th, a nonprofit newsroom focused on stories of gender and politics, kicked off its annual week long summit exploring why for which newshour is its streaming partner. earlier this month, our own

u.s. liquidity strategist. when someone says liquidity to you, the cliche of wall of money , what exactly is that? ira: i think in this environment, that wall of money is all of these reserveshat are trying to find a home in the banking sector. those reserves were created behind the federal reserve. so all that the fed has been doing over the last four in, 15 months is -- last 14, 15 months is adding more and more liquidity through its bond purchases. one thing you heard resident george mentioned is we don't need the extraordinary policies we've had anymore. i think that is part of the whole set up for the federal reserve tapering. i think that will be announced this year as opposed to the first quarter of next year, which was the consensus for quite a long time. tom: people in the equity market are trying to get out to end of year 2022. can you do the same thing with your team on yield? can you guesstimate yield with any conviction out to, say, september of 2021? ira: it is a little bit more difficult because we don't know exactly what is going to happen with the pandemic, and obviously, there's been a lot of shifts on and off over the last six months in terms of will we s

money because of a lack of clarnitclear clarity ab country's government. and they are also looking to block reserves that afghanistan's government holds in foreign banks. >>> the u.s. will offer covid boosters for all americans starting about a month from now. those who are eight months out from their second dose of the pfizer or moderna vook seen will vaccine will be eligible. new studies show that covid vaccine effectiveness drops over time and it coincide with the spread of the delta variant. one study found it declined from 92% to 80% between early may and late last month and the cdc found a drop in vaccine effectiveness among nursing home residents from 75% in march to 53% this month. here is more from the cdc's director. >> i want to reiterate, we are not saying that you need a booster dose right now, we're saying that we're starting to see waning in effectiveness against mild and moderate disease and that we're preparing for the month ahead because we've seen in other countries that that could portend wayning for severe disease. so not the time to go out and get your booster now, but we are planning for late september to make sure that we always stay ahead

reserve in the united states. looks like the taliban will not have any access to the money. administration official says any assets hello here in the u.s. will not be available to the taliban. there are imf dollars may not be made available to the taliban. the imf what i've been told they're in the process of serving member nations to see if they recognize the taliban the legit government in afghanistan. if they don't recognize they essentially don't get the money. that is something coming over the days and weeks that the taliban set up a legitimate government. they might need funds to do it. one thing to control a country but a separate idea all together to govern that effectively. we'll follow the funds to see how things end up. neil: yeah. i also wonder about the taliban's reaction to the point about those funds being frozen. will they be cooperative allegedly they have been or at least the administration argued they have been as a result. connell, thank you very much for that. what we are learning about the 20 some odd thousand afghans who will likely make their way to the united states is that a good many of them will be housed in

u.s. is a global reserve currency and the federal reserve can and has printed money.t creates money by buying government securities from the broad public or from the banks themselves. it can pay for those securities by creating the money to pay for those by creating the liability on the bank's balance sheets. they would be able to create money, print more money to fund the war. secondly, i would assume that the government would impose taxes on individuals in the united states to help pay for that war just like they did in world war ii. they would collect that money and that would help pay for the instruments of war that were needed to defend the country. there are those two at a minimum. as we have learned in the past, think about it this way. the amount of debt since the beginning of the pandemic that the government has issued and taken, has gone from $23 trillion to $28.5 trillion. the balance sheet of the federal reserve, in terms of its assets, in terms of securities and mortgage-backed securities have increased from $4 trillion to $8 trillion. the federal reserve

this means the federal reserve should be tapering between 15 to $20 billion per month, which is pulling a lot of money away from the bond market. when we are looking for example at u.s. treasury yields, tapering is going to be more aggressive than what the market believes. we expect if we have a tapering announcement as soon as september, 10 year yields will rise to 1.5%, and tapering looks to be more aggressive than expected. we can see those 10 year yields breaking about 1.75 before the year ends and could rise as much as 2%. in the short term, if we have a nonfarm payroll that meets, that could potentially drop again and the 10 year -- before tapering begins. >> at the front end of the curve, do you expect the fed to keep rates relatively well paced? >> we are less confident about that. the point about powell's speech last week is that inflation is more of a concern. if that is the case, the tapering is not going to have an effect because the federal reserve will continue and we will continue to stimulate inflation. with inflation keeping very high , at that point, the federal reserve has to push forward interest rate hikes. from now up to three years, the market

deter use of crypto assets for money-laundering he makes a strong point about china saying chinese central bank digital currency is not a threat to the u.s. dollar reserves here is a quote. he says i see no reason to expect that the world will flock to a chinese cbdc or any other why would non-chinese firms desire to have all of their chinese transactions monitored by the chinese government? carl, there is something to talk about on "tech check" this morning. get your tech people to explain why the fed does this or doesn't. >> i will tell the team. no guarantees, team. >>> as we go to break, a look at the growth map the ceos of western digital and kellogg after they reported strong results. >> plus, industrial technology company trimble gaining popularity after kathy woods arc investments that's big on the company. we will have the ceo. >> and highlights from last night's "jeopardy!" episode with david as guest host. don't go anywhere. >> its roadster can top 250 miles per hour and has a 620-mile range, sans gas matt >> what's tesla? - [announcer] dearest smoke shacks, defenders of the dry rub. thank you for giving your all to a 20-pound hunk of brisket

money from our creditors. lots of investors from all over america and throughout the world who buy those instruments of debt from us. because the u.s. dollar is the world's reserve currency and because many regard it as -- regard u.s. treasury as sort of the least bad investment of its kind, people will buy them and this stuff functions almost -- when we decide to issue additional debt, it functions almost as if we're hitting a button and just printing more money. when you print more money and you have a relatively fine night bass -- finite basket of goods and services that a economy -- an economy can produce in a particular year, that same basket of goods, when that same basket of goods can be targeted by more money, inflation is going to hit. and people are going to have to pay more for the same things that they always need to buy. so, look, this doesn't necessarily hurt wealthy americans. in fact, some of the wealthiest and most well connected americans will get rich off of legislation like this. keep in mind this legislation spends $1.2 trillion. the $550 billion number is the number that just refers to the new spending. so that means there was already rough