u.s. treasury bonds. armed robbers have taken dozens of ancient artifacts from their museum in olympia, that was the birthplace of the olympic games. the highest appears to have taken advantage of cuts which have been imposed on the museum service by the greek government. >> one of greece's most treasured sites reduced to a crime scene. ancient olympia with the first to live again took place, its museum the subject of a violent armed robbery. two men led the highest. this ancient site is more used to tourists than police has been cordoned off as the investigation goes on. a senior member of staff warned the government that budget cuts have reduced the personnel to a point at which the security of the museum with a longer be insured. the mayor says there is a direct link between what happened today and greece's financial crisis. the significant cut have an impact, he says. we don't have enough staff to guard of the museum. what we have here belongs to the whole world. it is also the responsibility of the i

u.s. treasury bonds worth six trillion dollars. this is equal to half the entire u.s. national debt. they were hidden in false compartments of three safety deposit boxes. >> they are calling this the largest ever seizure of its kind, fake u.s. treasury bonds worth at six trillion dollars. enough to endanger the stability of the international credit system. it has emerged that they were found in these trunks in a warehouse in zurich back in january. the italian police helped the swiss colleagues make the find. this was a sophisticated plot that unfolds it across several countries. the authorities began unraveling it more than a year ago. they were investigating a mafia group suspected of loan sharking in the south of the country. fake u.s. bonds were found in a raid on a suspect's home and the police realized that the gang had the grandest and additions, a six trillion dollars scam. -- the gang had the grandest ambitions, a six trillion dollar stamp. >> there's public anger in russia. vladimir putin is expected to get the top job at his party has been nicknamed the party of crooks and

u.s. treasury bonds. to greece where armed robbers have taken dozens of ancient artifacts from the museum in libya, the birthplace of the olympic games. there have been cuts to the museum posts by the government. >> one of greece's most treasured sides reduced to a crime scene. ancient olympia where the first 11 games took place, the old museum the subject of a violent armed robbery. two men led the heist, threatening the it -- tying up a female employee before ransacking the place. this place has been cordoned off as the investigation goes on. a senior member of staff warned the government that budget cuts have reduced the personnel to the point at which the museum could no longer be assured. the mayor says there is a direct link between what happened today and greece's financial crisis. the significant cuts have an impact. we don't have an of staff to guard the museum. what we have here belongs to the whole world. this is also the responsibility of the international community to look after it appeared t

u.s. treasuries by about thirty billion dollars they say they instead want to devote more money to assist europe in addressing the debt crisis i don't really ever quote michele bachmann but you know she posed the question you know is china our sugar daddy and maybe the question is is china now everyone sugardaddy. i mean first of all i would actually urge people not to read much into trying to reduce a good holdings of u.s. treasuries by thirty billion that's basically nothing and that and those things are going to have percent yet and also they've if you look over the past years it kind of undulates and a year or so for example last spring it went down for a while then to pick back up so. about it in terms of giving up on the u.s. so they're not going to lend to the us anymore they're going to lend to europe it's probably not the big problem i actually think it's actually kind of scandalous the idea of europe begging china for help again but for kind of the same reason europe has its own currency you could print money it has plenty of wealth in germany and so on china. it gets about how

u.s. treasury securities. so one of the factors that has pushed down the interest rates the u.s. treasury is now paying is actually fear of what is happening in europe. and investors' desire to come to a place that they think is in better shape. so if the situation in europe were to worsen, there could be some important factors that would be very bad for our economy there are also some channels through which our -- in a perverse sort of way, we would be better off because we would be viewed as being a relatively better investment than europe would be. risks to the u.s. economy of worse outcome in europe. i think that is a topic we've discussed a number of times in our panel of economic we built into this projection shallow recession in europe, which is consistent i think with the latest consensus forecasts. we didn't find a way to quantify a particular alternative european scenario. and part of that is it's very -- we're very unsure what the financial connections are. and just how a particular sort of financial debacle in reverbe financial institutions. it's a very hard thing for

u.s. treasuries, u.s. government agencies, or other types of investments which come with the full faith and credit guarantee of the u.s. government. included in that list are even deposits in local banks or credit unions up to the fdic insured limit and that is what has promised to the announcement of this program. supervisor avalos: thank you. >> thank you, supervisor. supervisor kim: thank you for your leadership and questions. i have a question for the treasure. we talked about this upcoming rfp and this concept of extra credit points for answering questions that we're interested in. i am wondering in terms of the top three responsibilities, there is a balance. we want to see some of these social goals that can be achieved but at the same time i am interested in making sure the city has a sound partner that we're working with in terms of our transactions they provide the service we need in order to track our ins and outs and transactions we have to make sure our funding is secured, to make sure we are l

u.s. trans be actions in an effort to freeze them out of the global financial market. the treasury department announced the crackdown in order to flush them out of global markets. >> there is also a dark side to globalization. while the world now seems smaller and commerce and transactions have become freer and faster, trans national criminal organizations have exploited these advancements to expand their operations and influence and to evade justice. >> the first message is to the yeah ma gu chi and to the yuza. we won't tolerate this. we will come after your money and you. >> reporter: jake addle steen is an investigative journalist in japan and the author of "tokyo advice." he tracks japan's mob. the two mob leaders operate so openly in japan fan magazines and comic books are dedicated to them. their syndicate, the yeah ma goo chi has a far reaching presence. he refers to that as goldman sachs with guns. >> the yakuza set up their own auditing firms and investment houses. they are japan's largest private equity fund. when they're being manipulated, that's not a fair deal for u.s

u.s. treasury department said on thursday that the iranian ministry is providing support for terrorist networks. it specifically cited al qaeda as well as islamic groups hezbollah and hamas. under the sanctions the u.s. will stop issuing visas to ministry officials and freeze any ministry assets in the united states. the decision comes after a series of bomb attacks this week. on monday a blast in new delhi targeted israeli diplomats. it was followed the next day by three explosions in bangkok. thai authorities arrested suspects one of whom carried an iranian passport. >>> next we go to bangkok to find out what's going on in the region. >> the leaders of pakistan, afghanistan and iran have met many islamabad amid rising international tex about iran's nuclear program. even so the position of iran at the summit appeared bolstered by its wealth and natural resources. the president of pakistan, karzai from afghanistan and iran's president ahmadinejad issued a statement after their talks on friday. their pledge to increase cooperation in energy, trade and counterterrorism. ahmadinejad promised to co

u.s. treasury. for more information check out the full story on our home page. >>> a new report from the piewp internet and american life project found people are getting more savvy when it comes to their privacy online. that includes restricting their profiecialtion taking people off their friends list. 44% of people surveyed said they've deleted comments up from 36% two years ago. >>> abc2 is on the go. we're checking in with a maryland ballet. cheryl conner is there live with more. they have been very busy. >> reporter: dancers with maryland's bali company are rehearsing. they have two shows for the price of one, firebird and the scarlet letter. right now katherine is wearing the a. you are playing the role of hester rib -- rib -- prin. >> hester wears the a for her adult tres act. not only does it stand for adultry, it stands for angel. hester is an angel in town. shapes independent -- she's independent and just an incredibly brave woman. >> reporter: how do you use your creative role as a dance

u.s. treasury department's office of foreign asset control for something called an unblocking license. he needed that unusual clearance because he is a cuban national who had established residency in another country after defecting from cuba. the men's lacrosse coach has a challenge getting bigger in a hurry. baby jacksonville on saturday, but this week, the tigers face johns hopkins and they will square off against the no. 2 blue jays. the coach played at hopkins, so he understands the challenge and the opportunity. >> you respect each probe -- each coach. you respect their programs. they're well done, a very well- organized. it has always been very good competition, the come game day, we want to beat them up. >> stick around. we have the seven-day forecast >> coming up at 11:00, hours after officials ruled it is ok to record police activity in public, a man is ordered to leave as he films officers making an arrest. we will have the latest on the investigation into the death of whitney houston when >> a little snow, perhaps? >> ad lib tel rain and snow mixed. it will not -- a little r

u.s. treasury bonds have turned up in switzerland. 6 trillion. ole lot of people. that would be half the size of the u.s. national debt if they were real. officials saying they discovered the counter fit bonds in makeshift come apartments of several safety-deposit boxes. at least 8 italian men are under arrest following what we are told was a long investigation by swiss, italian and u.s. authorities. prosecutors believe the suspects intended to sell the fake bonds to a developing nation and that the fraud posed a, quote, severe threat to the global financial system. >>> a strong showing for vladimir puin. two stops as we go around the world in 80 seconds. >> russia. thousands of people in st. petersburg rallying in support. prime minister vladimir putin. he served as president from to you 202008 and he's running again in the election next month. today's rally follows recent demonstrations against his candidacy. china. a series of military drills to boost their combat abilities they say. soldiers were repelling down the side of a mock residential b

u.s. treasuries against a stock portfolio, you're in danger to getting negative to zero returns in the u.streasury market to offset any income you would receive from those bonds. i'm going to use tlt and use the options market for a better risk reward return on my money. by selling the march 15th put for about $1, i basically collected $1, plus i'd have to be getting into the tlt at the 115 level or lower. so now i have my break-even here at 114, a much lower level, essentially giving me a better effective yield on my money. plus that dollar expires in three weeks. the annualized return on that is about 15%. much better than current yields in the tlt. so this is certainly a much better risk reward way to play things especially over the next few weeks. now back to you, amanda. >> my goodness, we've got a bevy of brins on the show at the moment. we'll go for a quick break and we'll come back with the closing countdown. it is oscar weekend. we're very excited about that. it may be more profitable than ever to be a winner. >> i'm julia boorstin on the red carpet in hollywood. i'll tell you wha

u.s. treasury. i think that does not -- i think that includes the money pay. the reason that our remittance to the treasury have gone up so much prior to the recent years we rarely admit $25 in a year. so the reason it's gone up so much is part of the monetary policy, we have, as you know, purchased treasury securities, longer term treasury securities and mortgage-backed securities, agency mortgage backed securities. the return on those securities comes to the fed and we take it and pass it back to the treasury. that's where the profit is coming from. in addition, the various programs we undertook during the crisis have turned out to be profitable. we put the money back to the treasury as well. >> thank you. and switching again, how effective do you think japanese efforts were to stimulate the economy during the 1990s? and i don't think their economy is recovering. we place the emphasis on europe, but i think japan deserves real consideration. >> japan has had a difficult two decades. certainly. there's important differences between japan and the united states.

u.s. treasury department said on thursday that the iranian ministry is providing support for terrorist networks. it specifically cited al qaeda as well as islamic groups hezbollah and hamas. under the sanctions the u.s. will stop issuing visas to ministry officials and freeze any ministry assets in the united states. the decision comes after a series of bomb attacks this week. on monday a blast in new delhi targeted israeli diplomats. it was followed the next day by three explosions in bangkok. thai authorities arrested suspects one of whom carried an iranian passport. >>> next we go to bangkok to find out what's going on in the region. >> the leaders of pakistan, afghanistan and iran have met many islamabad amid rising international tex about iran's nuclear program. even so the position of iran at the summit appeared bolstered by its wealth and natural resources. the president of pakistan, karzai from afghanistan and iran's president ahmadinejad issued a statement after their talks on friday. their pledge to increase cooperation in energy, trade and counterterrorism. ahmadinejad promised to co

u.s. treasury securities invests. as mr. buffett said, in god we trust maybe on our occcurrency. but the hand that prints our money is all too human. bonds though so many with a warning label. mr. buffett is advising investors to shy away investments such as treasury securities. it's interesting to know if you agree. i hope it's not a new buffett rule for investors to not buy treasuries. if investors see thoat advice ad then shies away from that investment and that will be a problem for the country. we need to -- the federal government's massive purchases of securities to help push rates down, unfortunately the administration remains luled in by the siren song and uses the low rates to finance for debt to advance a bloated european government. i look forward to your opinion to budget, i received it late last year after the deadline that was supposed to be honored submission, but i'm really concerned and ai do not see a resolution to the problems that the country is facing. >> i'm pleased to welcome our witness, secretary tim geithner, as you know, mr. secretary, your statement wi

u.s. treasury, meaning all of us, still owns 500 million shares of stock in the reconstituted gm. that's about 12 to $13 billion right now. we're on the hook, the u.s. treasury is on the hook for about 12 billion or $13 billion now and they don't expect further payment from gm. that's still an area of debate. no debate that gm is back on the rebound. we all have as the number one vehiclemaker in the world right now. >> mike taibbi, welcome back. great reporting out there at the plant in flint. >>> coming up later, a unique look inside another american business where, if they don't work the night shift, you don't get what you're expecting the next day. we went down to memphis to show you the vast and dizzying world of fedex. it's an airline, it's an army, it all moves in the dark. and we got a rare look inside. >>> but next up, chelsea clinton who will explain what the grown-ups have don't differently in one school district to make a difference in their students' ability to read. >> what your favorite strategy? >> retelling. >> what's retelling? >> one of my students did mention th

u.s. treasury u.s. fed for assistance yeah a lot of those bailout loans went straight to european banks the same thing's going to happen in the reverse scenario when they get in trouble the problem is are you going to have enough we could deal with it i don't know we're already at zero percent interest rates you could dip negative slightly put in just a negative for the next four or five years eventually somebody has to pay the piper yeah actually kick the can down a row every road has a dead end somewhere and we've seen enough problems with zero percent interest rate i can even imagine a scenario of negative percent interest rate reggie middleton though i appreciate your coming here and laying out how that would actually be a possibility down the road if the u.s. keep kicking the can i appreciate your insight as always that was reggie middleton he is an entrepreneurial entrepreneurial investor he also had the boom bust blog. so we've been talking a lot about the volcker rule so i could not miss this op

u.s. treasury. and she basically said they they will continue to drop now. >> senator is a ranking member of the affairs committee has called the uspc financial situation, quote, dire. what legislative solution is that committee working on? >> that city has a bipartisan bill. it came out in november. and it's expected in the next few weeks before president's day or just after president's day. and basically it would allow the postal service to rerup a refund. right now the postal service has half a million postal workers. it has too many. it needs to buy out. they will also be phasing out door to door delivery. allow people to buy fishing licenses at the local post offices and also to be consolidating. he wants as much flexibility as he can get. since the postal service is partially a government agency, it needs permission from congress to do a lot of things. so he basically supports the buy out. he would like to move from six-day delivery to five-day delivery. but they would have to show that they h

u.s. treasuries. he calls them dangerous and says they should come with a warning label. and, buffett is not alone. earlier this month, blackrock c.e.o. larry fink told investors to be 100% in stocks. investment pro mike holland says they're making an observation about the bond market, one that holland agrees with. >> the reason it's important is he's observing that when you buy a 10-year treasury or 30-year treasury, you lose money every day you own it. >> reporter: what are these guys talking about? aren't u.s. bonds supposed to be safe? here's the problem. a 10-year bond yields less than 2% these days. and, most of us would agree inflation is about 3%. so even if you hold that bond to maturity, your purchasing power erodes. simply put, you lose. experts say the potential loss for bond fund investors is even worse. and that's worrisome because investors are gobbling up bond funds like it's their last meal. >> if you own a bond fund you should probably sell it. if you're in a bond fund and if bond prices go down as interest rates go up you are locked into that loss, you

u.s. gold is held by the treasury not by the fed. >> okay, thank you. so we've been trying to track cumulative effective the dodd/frank bill. it has about 400 rulemaking requirements in it. some of them you're required to comply with. and recently we reached a milestone i think of 400. we put out about 140 of the rules. and so we still -- so about a third of the way through there. it was alarming to find that basically the regulators themselves published it would take about 22 million man hours per year to comply with the first 140 regulations. and so that means we're two-thirds of the way. and so we're obviously headed to a lot of compliance hours. it was interesting to also note that only took 20 million man hours to build the panama canal. i think that most everybody would agree that 20 million man hours spent building the panama canal created more economic opportunity than in $22 million man hours complying with regulations. are you concerned? i mean, that this level of regulation and this kind of burdens that we're putting on the markets and the ma

u.s. treasury. that comes on the losses from 2010 as well. $8.5 billion. donohue said it will increase. >> senator susan collins has called the usps financial situation "dire." what legislative solution is that committee working on? >> that committee has a bipartisan bill. it came out of committee in november. it is expected on the senate floor in the next few weeks. before presidents day or after presidents day. what that bill would do is allow the postal service to recoup a refund from the retirement account to use about $10 billion and take that money and do 100,000 buyouts. basically they would use that money for about $25,000 buyouts. mostly through attrition. there will be a lot of folks retiring. they will phase out door-to-door delivery. allowing the post office to ship beer and wine and allowing you to buy fishing licenses at the post office. >> is the post master general in agreement with the senate bill? >> the post master general has said he agrees with parts of the senate bill. ideally, he just wants as much flexibility as he can get. since th

u.s. treasuries, has a consistent policy of the basement of currency to deal with. if the european central bank goes down that route, it makes bureau and less viable alternative to the dollar. i think the big question is what is the euro -- an alternative to the u.s. dollar or a pretender? >> it is not just the euro and what will happen to the currency and the contributions. there are issues about financial regulation coordinating, also global trade imbalances. it remains to be seen, really. the lloyds bank in the u.k. announced a very big losses. it is really a combination of factors. but it is also interesting, the timing. what they do have in common is that both the banks got stung on the mis-selling of claims. the actual figure is $5 billion. in fact, $5.6 billion. it is a turnaround in the wrong direction because it is look at 2010, in a profit of about $442 million. these numbers are going to be heavily scrutinized by the politicians because, remember, like rbs, the taxpayer own some of lloyd's. it was bailed out by the government in the financial crisis of 20

u.s. treasury archives. brooks edited the document to protect his trade secrets. the rights to salvage the wreck. but with perhaps $3 billion at stake, he could face a fight in court over ownership. >> so what's this? >> it's a .50 caliber rifle. >> he's even worried about pirates. >> what we're talking about is a valuable treasure. you have to protect yourself. >> in 19 years, brooks has claimed several million dollars in treasure. >> the hunt for the treasure keeps you excited every day. you know, you're out there, saying am i going to get some today? >> for now, the crew wait for calmer seas perhaps in mid-march and the chance to solve this mystery of the deep. seth doane, cbs news, boston. >>> we'll keep you posted. coming up after your local news on "cbs this morning," president obama's boost in the latest cbs news poll. we'll get analysis and hear from senior strategist david axelrod and actress, viola davis from the movie the help stops byment that's the "cbs morning news" for this wednesday. thanks for watching everyone. i'm betty nguyen, have a great than

u.s. treasury group as a bubble now. doesn't this enable the deficits we're running here because they're funded at interest rates? so these tr the concerns that i have from this policy. >> let me first say that single mandate central banks like the bank of england la which is policies similar to the fed, i don't think it would be erratically different things at this point of time we're kuwait aware of the costs and risks. it's one of the reasons for the overall discussion. it's true they reduce what savers get on their saving. they also hold corporate stocks and a variety of other opportunities. and those dependent on the strength of the economy. so we're helping to improve the returns to savers. part of the reason for the policy to move them from positions slightly more into riskier positions to help promote strengthening the economy. we don't want to go too far. we are going to watch out for problems and to try to address them. and i've been in many conversations with investment companies, insurance companies, so on. w

u.s. treasury bonds in switzerland. eight people were arrested for international fraud and other crimes. get this. the fake securities amounts to more than a third of the u.s.'s national debt. they were seized in january from a situation trust -- swiss trust company. the operation was carried out by italian and swiss authorities after a year-long investigation. >>> expect to pay more for beef. the smallest cattle herd in 60 years combined with rising demand is expected to push beef prices up 5% or more in the coming months. that's more than any other food group except for seafood. and snickers bars going on a diet. mars says it will stop making chocolate products that have more than 250 calories. that means the candy bars will be getting a little bit smaller. no more king size versions of streets like snickers, milkways and three muss came tears. i -- musketeers. i spouse you can eat two. >> we'll find a way. >> i'm salivating for some. >>> problems during your pregnancy could foreshadow problems with your heart, too. >> we're back in two minutes with more on that story. plus, your weathe

u.s. treasury securities. as mr. ffett says, in god we trust may be imprinted on our currency but the hand that activates our government's printing press has been all too human. on bonds like treasuries, the oracle advises right now bonds should come with a warning label. secretary geithner, mr. buffett is advising investors to shy away from investments such as treasury securities and it will be interesting to know whether you agree with his advice. my hope is his recent musings don't become a new rule for investors not to buy treasuries. if investors heed that advice in large numbers, the spikes in interest rates that i worry about will materialize and the low cost financing of our $15.3 trillion debt that the u.s. temporary enjoys will evaporate in a hurry. we need to resist the siren song of cheap financing partly brought on by the federal reserve's massive purchases of treasury securities to help push rates down. unfortunately, the administration remains lulled in by the siren song and takes current low rates as a

u.s. treasury bonds. that's a face value of more than a third of the u.s. national debt. they were found in switzerland. eight italians were arrested and charged with international fraud and counterfeiting. italian, swiss and u.s. authorities have been working on the case for over a year, after learning of a plan to use the fake bonds as collateral to secure loans. >> tom: a slow growing economy isn't necessarily bad for stocks, just look at today's close at two and a half year highs. but tonight's market monitor is also playing some defense. brian lazorishak is portfolio manager at chase investment counsel. he joins us from charlottesville, virginia. >>> nice to see you, thanks for having me, tom. >> tom: we've seen a sharp rally this year, a sharp rally in small mid cap and big cap since october. have the downside risks increased with this rally we've seen? >> well, i think you have to pay attention to the downside risks. we think there may be room left to the upside. but one of the things we do with our fund is always pay attention to the downside and try to manage tho

u.s. treasury holdings as well as the rich market for their manufactured goods but this economy interdependency becomes a headache for washington when china demonstrates policies independent from america's will and the white house has to stifle this content behind full on smiles china blocking the u.s. backed resolution on syria is one example russia came under fire from washington for opposing forceful regime change in syria while the u.s. criticism for china was far more muted for taking the same position but the reality is that china the west have to treat with much more with kid gloves because of the integral relationship in terms of the way that the chinese economy now is so totally woven in with the western one neither country is capable of dominating the other and neither country is going to win a cold war type situation as china's influence grows president obama has pledged to strengthen u.s. positions in the pacific going as far as the plowing extra troops to the region this is made some wonder whether the u.s. can reconcile with the situation when it's not dominating obama announced t