united states with their money as a safe haven. additionally a lot of transactions are conducted in dollars. the demand for our financial assets helps to keep the united states financial system at the center of the global financial system even when the financial system is struggling as it has in the past few years. as you said, we risk losing that advantage if we allow our debt to continue to rise relative to gdp. >> we have the ability to print more dollars within a limited frame above four adverse impacts but if that goes too far that could be part of the devaluing of the currency and the loss of confidence. >> yes. if our inflation rate returns to the levels it was that beginning in the 1980s, that would also weaken the dollar's role in the national financial transaction. >> thank you. >> and thanks to senator sessions for asking that. very important we get that on the record. the role of america's reserve currency as a reserve currency, senator begich. >> thank you, mr. chairman. i want to -- i appreciate the debate you had before we started the hearing and i thought was interesting to li

caused a huge spike in the united states dollar index and a sharp drop in commodities in general andck market as traders ran from risk. i think that moving forward is probably the bigger issue in terms of how much macro economy head winds the market has to face. >> for the editors of profarmer. >> other news it looks like meses of u.s.d.a. gipsa rule are going to the office of management and budget though without some of the most controversial parts. industry reports says the rue has been split three ways and what's left will have little impact on beef or hog producers. chicken may see changes to things like suspension of delivery, breach of contract and capitol invest critria. >>> those are the headlines, now back to john for crop watch. >> . >> and in crop watch this week in southwest oklahoma a tornado touched down near the town of tip ton on monday. this may look like an empty lot but the oklahoma state university had an extension office here. now it's gone. a grow america henry county said he should just throw the calendar out the window. beans planted on june 7th yielded 77-bus

the military industrial complex of the united states. of dollars and contracts to build these missiles the irony is that we have professors like. ted postol former red military people that say it could never actually work president medvedev stresses that russia remains open to dialogue with the united states and nato over missile defense issues but if that dialogue is to take place then a clear legal framework must exist saying who is the real target people all over. according to russia's envoy to nato moscow with a case for transparency and construction of the missile shield every country well we'll say nazis but it will we will carry on talks with our american and nato partners until the u.s. passes the point of no return in this matter the point of no return is a finalize ation of the european system if we should make sure that the matter in question is a complement of the sites the locations and which is strategic nuclear force can be monitored off a deductive approach will be implemented. therefore there is still time for negotiations and we a

help strengthen our currency, fixing -- reducing our debt would improve the viability of the united states dollar as a reserve currency. >> yes, senator. >> would you -- basically, senator conrad suggested in the, and i think it's good -- some of the things that benefit the united states economy as a result of the dollar being a reserve currency? >> well, one thing that we've seen very clearly in the last few years is that, um, in moments of, um, great worry by investors around the world about the safety of different investments, they come to the united states with their money, um, viewing us as a safe haven. um, additionally, a lot of transactions are conducted in dollars, and that demand for our financial assets, um, helps to keep the united states financial system, um, at the center of the global financial system even when our own financial system is struggling as it has in the past few years. and that is, um, as you said, that is one of -- we risk losing that advantage, um, if we allow our debt to continue to rise relative to gdp. >> and we have the ability to print more dollars within a limi

reducing our debt would improve the accountability of united states dollar as a reserve currency? >> yes. >> senator conrad suggested this, and i think it is good. some of the things that benefit the united states economy as a result of the dollar being a reserve currency -- >> one thing we have seen very clearly in the last few years is that in moments of great worry by investors around the world about the safety of a different investments, they come to the united states with their money, viewing us as a safe haven. additionally, a lot of transactions are conducted in dollars. that demand for our financial asset helps to keep the united states financial system at the center of the global financial system, even when our own financial system is struggling as it has over the last few years. that is, as you said -- we risk losing back advantage if we allow our debt to continue to rise relative to gdp. >> and we have the ability to print more dollars within a limited range before adverse impacts occur, but if that goes too far, that, too, can be part of the devaluing of the currency an

aware of the fact that last year the obama administration chased out of the united states expulse them over five hundred dollars and people expose from the united states i mean if if we had a media there was at all honest this would have been a front page this would have been hotly discussed here obama is raising a baby in dollars for his reelection campaign and he's made a statement which would stehman straits what little respect he has for the people he's made a statement we're not going to take any money from special interests well i'll tell you the billion dollars is coming from special interest. and and so he can tell you looking right at you with gearing up to attack your role how serious is that the irresponsibility of netanyahu and the lies not i don't have to i'm not telling you anything new circles he says he's a liar so in my humble status as a private citizen that i tell you the yahoo is a liar is not nothing new but he is a liar because he's made statements about iran that are absolutely ridiculous and all it is is to create a fear for the people within israel he is part of the george bush syndrome

that area the progress on actually also shares intelligence with the united states the united states has funneled billions of dollars in military aid to this nuclear country and tensions between the two countries have always existed they came to an all time high back in may when the united states performed a unilateral attack that actually alternately killed osama bin laden and after that there were several protests across the country in pakistan men. dani's want to cut ties with the united states the united states hinted that it would perhaps stop funding or sending aid to pakistan and obviously things cooled down after that but if there is a further investigation into this incident and everything proves to be accurate with nato killing twenty five pakistani soldiers it could have huge huge implications for relations between the united states and pakistan and further ripple effects for politics in this region. there unfortunately this isn't the first time pakistani troops have died nato cross border strike can you give us more of the back row. that's right actually not just last year of united states accidentally k

well do new well it's not going to happen it's like asking at the united states to say which eldest of the states are going to stand a dollars and that's not going to happen you say finding the solution is that meaning finding the money to sort this out or is it really a political well it's it dulled advance it's finding the money where that means that there is money there's a lot of money huge big multinationals are making profits as never before i mean a my own country here it was on the news today that because of companies complain that they paid too mustek says to secure the socal sixteen percent actually what they see is their only pay he left and percent and that's all over the place in europe they can the can because they blame the so-called official tax rate but the reality is that they hardly pay any tax load it's exactly what the occupy movements all about isn't it as well but just very very briefly and finally we're going to see more more pressure on other governments throughout europe more political casualties do you think even before the end of the year disparate very briefly and well i don't i don't i'm not a g

stand up to china, refusing to insist that china allows its currency to trade just as the united states dollardes. this business of treating china as some kind of special case underlies the entire problem. guest: well, the gentleman certainly has eight. . -- has a point. china has been a tremendous source of new competition on a global markets. you only have to look at the speed by which its exports have penetrated world markets. today it is the largest exporter in the world. the caller also has a point that the chinese currency is undervalued because china has systematically intervened to keep the currency from appreciating, and in the process has built up a very large reserves, the largest in the world -- built up very large reserves, the largest in the world. i think the picture the caller painted for china is too negative. even though china is the fastest-growing export market in the world, it has always -- also been the fastest-growing import market in the world. health, china's imports prop up the global economy during the crisis in 2009. china has been moving in the right direction. the

well to new world is not going to happen it's like asking at the united states to say which odds of the states are going to stay in the dollars and that's not going to happen you say part of the solution is that meaning finding the money to sort this out or is it really a political l.h. it all depends it's finding the money where there is money there's a lot of money huge big i'm not a nationalist are making profits as never before i mean in my own country here it was on the news today that because he's complained that it became a stacks is to secure the so-called sixteen percent actually where this year they're only eleven percent and that's all over the place in europe because. we blame the so-called official tax rate but the reality is that they are only paid in taxes less it's exactly what the occupy movements all about isn't it as well but there's a very very brief and finally we're going to see more more pressure on other governments throughout europe more political casualties do you think it would work out of the year to create very briefly well i don't i don't i'm not a good fortune teller on these issues it might hap

dollar. the united states treasury secretary has called for fast action by europe in light of the debt crisis. speaking at the summit in hawaii, tim geithner said leaders have been discussing how the asia-pacific economies can strengthen their own defenses against the fallout. >> the crisis in europe remains the central challenge to global growth. it is crucial to all of us that europe move quickly to restore financial stability. we're all directly affected by the crisis in europe. the economies of the asian- pacific region are in a better position than most countries to take steps to strengthen growth in the face of the pressure of europe. >> tim geithner. the washington national baseball team in the united states has been kidnapped by gunmen in venezuela. he is a catcher for the major league team and was back, during the american off season. does a venezuelan government has says it is pursuing the kidnappers. >> in baseball -- such is the case with wilson ramos, a rookie catcher with the washington nationals. he returned to venezuela and during the off season and was due to play for his ven

dealing with china as china of course is the largest foreign creditor for the united states holding over one trillion dollars in u.s. debt. i. mean there is any u.s. state where the movement has little chance it's probably why despite the high concentration of politicians in wall street be quick socializing at the apec summit the only place people are willing to occupy here on the ass of the beach is with one exception these protesters are against greed and social injustice they're against economic inequality and they are against china. that. the mood at the podium was similar to look hostile i think we can benefit from trade with china and i want certainly to continue cultivating a. constructive relationship with the chinese government but we're going to continue to be firm in insisting that they operate by the same rules that. everybody else operates on his political opponents were even in the village here and i happen to think that the communist chinese. and. history if they do not change their virtues we have to have china understand that like everybody else in the world stage there to play by the rules

. >> this year, the united states had 14 separate billion dollar disasters costing $50 billion. does this mean the weather is getting more extreme? what is about to happen? we started 2011 with our local extreme -- and january thunder snow. then records snowstorms in the east chicago paralyzed by an extreme blizzard in february. record tornado operates took 300 lives. spring and summer, extreme floods, while texas and the southern plains were headed into an historic route. and record summer heat in washington. later, tropical floods in vermont. weeks later, the ones and a lifetime october snows in new england. what is going on with the weather? is this the new normal? the surface of the earth as rapidly warming, almost two degrees in the last 100 years. one of the world's leading climate scientist says extremes such as increasing record heat is the future, and we are already experiencing climate change. what about winter snowstorms in washington? and extreme winter? paul cosen wrote the book. >> it is hard to take out the fact that some years to actually do get a lot of other ex

it so my question to you is this a joke when you look at the fact that the united states already has fifteen trillion dollars in debt right now. well washington really is a joke i often say to the one town in the united states where the circus never actually leaves and i really we're having now with this with this current discussion is basically continuation of what we had earlier in the year when publicans took over control of congress they were basically given a mandate to try and rein in government spending and that's kind of hard to do you have you got ministration control you have harry reid in control of the senate and also added i'm not really convinced the republicans are serious about cutting spending you know in fact they've been threatening now some folks there are they will not accept that struts if the deal doesn't get done here in the coming weeks and some of the senate rather have tax increases and sudden runs cuts alone on this well go ahead well i just say it's certainly a song and dance that we've heard before anybody has been covering this even just in the last year with the debt ceiling a

dealing with china as china of course is the largest foreign creditor for the united states holding over one trillion dollars in u.s. debt. but u.s. has long complained that china keeps its currency artificially weak to give an advantage to exporters but china says that one has to rise gradually to avoid harming its economy now of course one of the explains the differences that have piled up now between washington and beijing and there isn't any us state where the occupy movement has little chance it's probably why despite the high concentration of politicians in wall street big week socializing at the apec summit the only place people are willing to buy here on the ass of the beach is this one exception these protesters are against greed and social injustice they're against economic inequality and they're against china. sedan clearly the mood at the podium was similarly hostile i think we can benefit from frayed with china and i certainly continue cultivating a. constructive relationship with the chinese government. but we're going to continue to be firm in insisting that they operate by the same rules that

dollars. the united states sent in helicopters that conductd the greatest air lift in the history of mankind. moved about 20 thousand on thes in the mountains to keep 1/2 million people a hive during the wintertime. it was very heroic and people were grateful. aid has dropped 70 percent after a year in the wake of that void many jihad and people labeled terrorists have set up camps. this is one here. in pakistan. and in that camp, there are many kids that are previously were going to school and now they have no school and the cost to help them go would be about one month per month per child. fifth grader 20 bucks a year. first grader five bucks a year. they get their food in the back on the mess tenth and then on the left is an extreme place where people get indoctrined into a violent islam. because of international lack of help for those kids to get implicated these kids are here. there's another camp here. osama bin ladins first assistant. spent two-years in gann tan know bay in cuba and he's running large camp and just down that the united states, 212 mash units. what's going on is they're

justified i think it's being driven by the the military industrial complex in the united states getting billions of dollars in contracts to build these missiles the irony is that we have professes like at mit ted post still on or at military people that say it could never actually work and other words it really wouldn't protect the u.s. against any kind of. incoming missiles because it's so easy to use decoys and you could never guarantee that you could screen them all ad so this is like ohio total waste of money it gives no protection and yet it is threatening to russia's strategic forces i mean we had the i.b.m. tree the a.b.m. treaty and one nine hundred seventy two the anti-ballistic missile treaty we had both countries promise not to build these missile systems because they realized that they were in this burgeoning arms race at that time we had seventy thousand nuclear weapons on the planet i mean we're down to a mere twenty one pharaoh's the now and twenty thousand of them are still in the u.s. and russia well this is very dangerous very interesting you say this is very interesting hearing tough tal

this is about the united states making making dollars available. they have had this plan in place for a long time. the plan isn't new. they had before and after lehman. they had it 18 months ago. what is new is that they have reduced the interest rate so that banks on both sides of the atlantic can actually free up -- this is oil that is going to lubricate the system. but more importantly, any money that is lent into the system or swapped, to use the technical phrase, is returned. the ecb in england gave it back at the end of it. so any american taxpayer watching us now that thinks, we're bailing out europe. >> we're getting our money back, is what you're saying? >> this is about insuring the system. because i promise you this, if they don't do this and we do get a gumming up and a ceasing up of the systems, we are lehman, we are ducks, and not only that, if it's the euro involved, it's going to be taking people by surprise. >> very simply, china requires banks to keep reserves, which the fed does or any other reserve, china has reduced the amount

dollars. the united states sent in helicopters that conductd the greatest air lift in the history of mankind. moved about 20 thousand on thes in the mountains to

dealing with china as china of course is the largest foreign creditor for the united states holding over one trillion dollars in u.s. debt russia is pretty excited to host the summit next year in the far eastern city of la basically russia is not only just geographically very well strategically placed for the asia pacific. gathering and this big economic group because of the where it is on the world map it's really convenient in terms of reaching the goals of the group in terms of. investments so on and so forth but it's also traditionally been a big mediator when it comes to certain misunderstandings between world players so this is certainly a good role that russia can play when it comes to continuing to develop the goals of the gathering and of course last but not least you know russia's accession to the world trade organization is something that the russian federation has been ready for for quite some time for almost a decade so certainly it's been ready to go this entire time so what better time than now to really spearhead this gathering next year as a full fledged member of the w. to go. there but thi

comes to dealing with china as china of course is the largest or creditor for the united states holding over one trillion dollars in u.s. debt. all right well russia is hosting the asia pacific summit next year and what it's helped to be completed shortly what can you bring to the table. well you know marina you're absolutely right russia is in fact pretty excited to host the apec summit next year in the far eastern city of lot of us the russian president has been seeing here that russia is all set everything is in full swing to get prepared for this and you know basically russia is not only just geographically very well strategically for the asia pacific. gathering and this big economic group because of the where it is on the world map it's really convenient in terms of reaching the goals of the group in terms of boosting trade boosting investment so on and so forth but it's also traditionally been a big mediator when it comes to certain misunderstandings between the world's players so this is certainly a good role that russia can play when it comes to continuing to develop the goals of the gathering and of cou

dealing with china as china of course is the largest foreign creditor for the united states holding over one trillion dollars in u.s. debt. he's an associate you're going to reporting right there one of the two countries have exchanged strong words with china defending its policy on its currency oksana boyko now explains the differences that have piled up between washington and beijing. if there is any us state where the occupy movement has little chance that's probably why despite the high concentration of politicians in wall street big week socializing at the apec summit the only place people are willing to offer to party here on mass at the beach is with one exception these protesters are against greed and social injustice they're against economic inequality and they are against china. i. mean sudan clearly the mood at the podium was similar to hostile i think we can benefit from trade with china and i want certainly to continue cultivating a. constructive relationship with the trying his government but we're going to continue to be firm in insisting that they operate by the same rules that. everybody els

the military industrial complex in the united states that's getting billions of dollars in contracts to build business. that we have professors like. postal former rep military people that's. say it could never actually work president medvedev stresses that russia remains open for dialogue with the united states and nato over missile defense issues but if that dialogue has to take place then a clear legal framework must exist saying who is the real target peter all over r.t. . but former m.e.p. clinton forward says it's in europe's interests russian he west reach an agreement as no one would like to see any delay the process of cuts he said your purpose deployment it does they give them the capability of making a preemptive strike or at least responding to a preemptive strike against iran but at the same time it does change the balance of forces between if you're a u.s. nato one and russia and i'm not sure it necessarily wants to get that way very easily it's actually in everyone's interest to be continued nuclear disarmament and i think the european union and european members of nat

the military industrial complex and the united states that's getting billions of dollars in contracts to build these missiles the irony is that we have professors like. ted postol on the red military people that's. hey it could never actually work president medvedev stresses that russia remains open to dialogue with the united states and nato over missile defense issues but if that dialogue is to take place then a clear legal framework must exist saying who is the real target peter all of a r.t. moscow. well the stumbling block appears to me entrenched idea is one political scientist told r.t. that american russia found it hard to overcome the cold war mentality despite the best intentions we are back to square one and i think the biggest deficits despite was exchanging jury summits between russia and the united states is a deficient of confidence and is just simply from there too and he's just saying we've i think basically you have no walk looming and i think that they are sincere when they see the day when they want to change their vision and they want to move on after the fall sch

but i think it's being driven by the the military industrial complex and the united states that's getting billions of dollars in contracts to build these missiles the irony is that we have professors like that ted postol on the red military people that. say it could never actually work stresses that russia remains open to dialogue with the united states and nato over missile defense issues but if that dialogue is to take place then a clear legal framework must exist saying who is the real target peter all of a r.t. . but in a putin's officially been chosen as the candidate to represent russia's biggest political party at next year's presidential election at the united russia convention in moscow the prime minister outlined the direction he'd like to take you for elected next march. over was at the conference now it's ambition to run to seek reelection as president in this country in several months from now he had been russia's president for two terms from two thousand to two thousand and eight according to the constitution one cannot keep the top job for three terms in a row that should let him acquitted whe