dollar. now, the united states has the ability to lead in the coming age of monetary reform by uni unilateral of its monetary standard, namely gold. unilateral -- means that the united states dollar will be defined in congress in federal statute as a certain weight unit of gold, just as the dollar was defined from the birth of the republic, that is to say the coinage act of 1792, until 1971. the u.s. treasury and the federal reserve and banking system will be responsible for maintaining the statutory gold value of the united states dollar. now, what would such a financial world look like in the united states? first, all financial -- on banking agencies chartered or supervised under federal law that are payable in dollars shall be redeemable in gold at statutory rate without restriction. dollar demand deposits, for example, checking accounts will be redeemable in gold upon demand. but other dollar claims, of course, redeemable at maturity. second, along with customary bank notes and bank checking accounts, americans will be free to use gold and authorized mint-issued gold coins as money withou

because the indian rupee just a week ago or so traded to an all time low versus the united states dollar. if we saw one thing in may it was that the safety trade is not running to gold. it's running to the u.s. dollar. the dollar soared against all the bric currencies. most of all against india. isn't a slowing emerging market world deflationary and actually gold negative? >> you're negative emerging markets. >> i'm short india. i'm short most emerging markets because of what you just got through saying. but the problem, steve, if things slow down, what are governments going to do? they're going to print money. that's all they know to do. it's the wrong thing to do, but they're not very smart people. that's why they work for the government. they're going to go out and print money. if they print money, real assets are going to go through the roof. >> let's play right off of that and get to goldman sachs today. recommending investors go long commodities in a note released this morning. goldman says commodity price risks are shifting to the upside. sees prices rising for copper, gold, crude

approval last year with the overthrow of mubarak the united states has invested something like one hundred billion dollars in today's dollars. keeping the egyptian military funded and that's because the united states has to keep control of the suez canal a lot of people don't realize that the united states is now a second rate economic power but still the world's superpower militarily and something like two thirds of the world's commerce passes through the suez canal every day of the major trading partners of the world is between ager in europe and it's all passes through the suez canal including all the western energy from the persian gulf so the united states cannot afford to lose control of the suez canal and this is what this election looks pretty rigged i mean the rules have been changed since the last election and the you know the reality is political power grows out of the barrel of the gun in the egyptian military has the gun and they're being funded to a billion a half dollars every year by the usa so united states cannot afford to lose the horn of africa of the suez canal and they will do every

united states has the biggest number of criminals. but also bounty hunters. catching so-called wanted billions of dollars every year to the hunters. business. every year in the united states. before their trials. the. to be. freedom has a price the more severe the crime the bigger the in order to get out of jail before . for example. fifty thousand dollars. twenty five thousand dollars. the contract stipulates that. this person will be and will be held accountable. eighty percent of the money needed for the release the remaining ten percent is paid for by the criminal or his relatives. a contract to cosign by the offender gives full power to the bondsman. always he goes to court we have no problem but the minute he misses court and the courts don't notice let me know that he is actually actually did go to court that's when my about one department takes over it all comes of being a bounty hunters look at tony brown actually. we are going to follow the bounty hunters who tracked down petty criminals they are very popular but also controversial this week we are going to try and catch two drug dealers with rewards of thirty five thousa

all of it is needed to cover the cost of empire one trillion dollars the gross product of the whole world is sixty trillion. so the united states alone forget about its allies is spending one in sixty dollars of the world's g.d.p. and its military empire that is a scandal let me and it's been going on if you will in i have heard somewhere and it seems very gentlemen her with her let me provide you with some facts that you appear to be unfamiliar with we spend four and a half percent on defense in the united states of g.d.p. four and a half percent of fifteen point five trillion dollars that's not an awful lot if you're talking about the budget it's roughly three and a half trillion dollars we collect two and a half trillion dollars from taxpayers now one trillion two and a half trillion dollars the largest expense in the united states purrs on the way i didn't say i didn't care that much because i said social security i said social security medicare and medicaid i think al gore sixty percent of the budget in the united states all right gentlemen where you are george i want you i mean what i do what is yours you are what he has

and on that i want to say that every dollar the united states spends on old and unnecessary programs, is a dollar we lose from new necessary strategic investments. as secretary panetta said if we had an open bank account we'd keep all of it but we don't have an open bank account. so when something is added to our budget that is not needed we are forced to take out something that matters. from readiness, from structure, modernization or from the health of the all-volunteer force. when we're forced to hold onto older, less capable systems we cannot buy newer and more capable systems. so others can pick one item or another but we have to balance them all. and, we have a responsibility to avoid sequester. i want to say one word about that awful prospect up front. people asked are we planning for sequestration. secretary of defense has said no, we're not. maybe later in the summer o and b will have to request we take a look at it but i don't want to mislead you here. planning has a certain rational tone to it. but congress in writing the budget control act, did not design sequester to be r

in talks to help the thirty four thousand kilometers of fiber optic cable to the united states construction billion dollar project is due to start next year it may be toyed experts say to existing subs the oil pipelines. is in china to sign off a four billion dollars investment fund topping the vast resources of siberia they named the region's forests and farmland as two major opportunities countries plan to double trade turnover in five years they announced now the u.s. service sector unexpectedly grew for last month and the wall street slightly worrying new figures show by the end of the year u.s. government did with top seventy percent of g.d.p. that's a record all those board german industry have dropped at their fourth history in months according to a new survey that's pushed frankfurt to close down for a second day puts the figures of for for. it is short for the queen's jubilee also first second day of the world's oldest buying power she's on trial for corporate tax fraud protesters are up in arms to bear the brunt of spending cuts for the rich are getting away with it they say no it's alleged when

united states security strategy. especially since the tragic events of september 11th 2001 with states with impoverished regulations can pose great threats to our nation. we have spent millions of dollars in recent years fighting wars. if properly targeted, it can improve united states connections to peoples and governments. this is why the national security, i strongly believe that no global superpower that claims to possess the moral high ground can afford to relink wish to prevent global disease. the promotion of economic opportunity and resistance to oppression. this set of ideals was reaffirmed to the sacrifice of our civil war and amplified during two civil wars in which the united states opposed the forces of aggression and conquest. our moral identity glows from thomas jefferson and abraham lincoln to the present day. i'm saying that no nation is more closely associated with a set of historic moral presepts and as an observer and global affairs, i believe this is a good thing. and i believe our moral identity is an essential source. in most respects we have been a generous nation. we have continued to help the former soviet union continue to destroy the once weapons that were o

point three trillion dollars worth of cash if europe gets into trouble well you know it which would happen which country in the world has the ability to bailout your united states china because this three trillion dollars and when it has the power or that ability it can always exercise power what could be political ramifications for that as far as crucial foreign policy issues for example over syria will the u.s. pay more attention to what china thinks about certain issues well if you take it on for example i think it's you know the u.s. wants china to be on its site and you know if china were to sit take north korea for example you know the great example you know if china were on the side of the u.s. . things would be so much easier but the fact that china has no independent view on north korea makes chinese american dealings with north korea that much more difficult in fact in my book i begin my book with a kind of fantasy scenario where i say that you know ten years from now if the united states gets into so much economic trouble right that it will have to borrow money and if china has the money. provide the u.s. china might say well we don't like your milit

and those euros in europe are chasing dollars in the united states mean there's been a capital flight from europe to north america to the united states in particular and you couple that with the perceptions of slowdown in china china isn't this great glowing success story that it used to be the dollar has strengthened significantly in the last say three months i mean we're talking a percentage in the range of fifteen to twenty percent in in a certain sort way when you look at it and so right away that accounts for part of the oil price of what it is a price decline i'm sorry it's not that there's too much oil floating around on tankers sure that economies are slowing down you've got issues like refineries closing in europe that you know yeah you know you've got those day to day type issues but there are macro things that are controlling that oil prices they're giving us this somewhat temporary you know summer respite you might say from those previous high oil prices i think when you when you look ahead when you look out a year two years three years it's stand by because there's a pric

peels back the layers of american engagement in afghanistan to reveal its rotten core that the united states dollars meant for the country's future. instead, fund the insurgencey and supports the taliban. it ensures america's ultimate defeat. mr. speaker, i bring this to the floor for this reason. i continue to be amazing that both sides want to continue to spend $10 billion a month in afghanistan. as borrowed money from the chinese and there's no concern. we just spend more and more money to support president karzai who is a corrupt leader. and as this book says, had the united states taxpayer bank rolled the taliban, the american people have already said in poll after poll, bring our troops home now. as many as 72% to 73% of the american people say, bring our people home now. our soldiers have won the war. bin laden is dead. al qaeda is dispersed. i hope that members of congress will find the time to read this book and i hope the american people will read this book and be outraged and i am outraged. "how our taxpayers are funding the taliban so they can kill americans." let's get our troops home f

the definition of a dollar and year by year foreign central banks, which alone could exercise that right to redeem began to redeem, and for a full ten years before the united states suspended the gold convertibility of the dollar, before it went on the pure paper system for that full ten year, the government was -- was continuously -- it was an exercise in continuous improvisation to try to fend off that evil day when they would have to try to face the fact we were simply consuming more than we producing. so precipitously it happened because the united states refused to yield to the ever so constructive discipline that the world was trying to impose on it. >> wasn't it the pesky french in american gold? >> among others. there are many nations that came to the window and demanded gold. >> and -- >> this may be seen as somewhat of a follow-up to the prior question, but as a practical matter, if the united states were to return to a gold standard the way you discuss it, my question would be, how much -- how much of a gold reserve would that require? the united states has eight tons i believe of the gold. is that 270 billion ounces? i think that's what it is. >> 253

. >>> united states sits on 16 trillion dollars worth of debt.lions of your tax dollars are sitting in the bank doing absolutely nothing. the funds that can't be spent and can't be returned. why? sharyl attkisson ball is the money. >>> bridges in dire need of repair, homeowner is desperately fighting for closure. while tens of billions of tax dollars meant to help languish and forgotten federal bank accounts. those are just some of the averages in the new reports of money for nothing compiled by republican senator tom colbert. >>> the money is granted and then spent its way past the time events on when the original grant was applied for the never close out the grant never been the money back is sitting out there in limbo. unspent tax dollars might be good news of a return to reduce debt or deficit but often the spending laws require the money to be maintained in accounts at taxpayer expense whether it's every user not. >>> for example back in 2005 congress earmarked tax dollars for its futuristic magnetic levitation train across the mojave desert

investment it may not be the end of the dollar hegemony established by the bretton woods agreement in nine hundred forty four and which contributed to the united states decides if role in shaping global market rules and is situations but even despite the fact that over sixty percent of global foreign reserves is in the u.s. dollars aborts in the dollar definitely damages its value influence and power and this is as many argue and others sign that the u.s. dollar as the world's reserve currency will slowly lose its attractiveness that original for cross-talk r.t. . ok mark i'd like to go back to you in hong kong or. where is this in china's playbook here i mean do they want to the their currency to be is just as important as the dollar at some point is it challenging the dollar or is it just want to be part of the game just a bigger part of a bigger part of the proportion of currency that is being used in the world. yeah of course they want to increase the influence of the name be. clear because vis a vis the currency influence also comes political influence it all together and of course the us has been using the willingness of other countries to acce

treated that way and i don't have to go to the united states and by the way they didn't sanction me they proved my assets and they know i don't have a single dollar not only in the united states anywhere and the word so their countries as many as of the like because they don't have any of them my asset is the love for my country and for my people and all these you know propaganda movements to put their name or so on to want to put my name on sanctions means nothing to me books of mine are being sold in the united states i thought a duke university i thought at least richard and university a third book of mine is now accepted to be published in the united states so i thought this should be embarrassed to put my name on a side trip not me who should be there should be. saying or shove and thank you very much for this interview thank you very much thank you. you know. there hasn't been. this. to get the maximum political impact. before the source material is what helps keep journalism honest we feel. we want to present. something else. wealthy british style some time to run. for the. markets why not scandals. find out what's really happening to the

treated that way and i don't have to go to the united states and by the way they didn't sanction me they proved my assets and they know i don't have a single dollar not only in the united states or anywhere in the word so their countries as many assets of the like because they don't have any of them my asset is their love for my country and for my people and all these you know propaganda movements to put their name or so on so on to put my name on sanctions means nothing to me books of mine are being sold in the united states i thought a duke university i thought richer than university a third book of mine is now accepted to be published in the united states so i thought this should be embarrassed the put my name on the side of not me who should be embarrassed this should be about saying a shove and thank you very much for this interview thank you very much thank you. you know. arrangement three. three. three. three broncos video. free media. wealthy british style. market. find out what's really happening to the global economy. there are no holds barred the global financial headlines. kaiser reports. the headlines on the arrest or asylum british

treated that way and i don't have to go to the united states and by the way they didn't sanction me they proved my assets and then i don't have a single dollar not on in the united states anywhere and the word so their countries as many as of the like because they don't have any of them my asset is the love for my country and for my people and all these you know propaganda movements to put their name or so on to want to put my name on sanctions nothing to me books of mine are being sold in the united states i thought a duke university i thought richard and university a third book of mine is now accepted that we've published in the united states so i thought they should be embarrassed to put my name on the side of print not me who should be embarrassed they should be embarrassed sanish i want thank you very much for this interview thank you very much thank you. when living in the seventeenth century. strict. their communities. they clearly distinguish between do. well with. technology. development russia. tens of thousands gather in cairo. the muslim brotherhood's mohamed morsi the country's new leader. president. calls an emergency nato meet

united states government. that's a good place to start. at 3.8 trillion dollars, the u.s. budget is a powerful force in the united states economy. its sheer size means entire industry, whether heavily regulated or not operate in constant awareness of what you all do here. when you combine this budgetary power with the separate powers of taxation and regulation, the federal government wields significant influence over the economy both directly and indirectly. it's not an overstatement to say that right now. the united states economy operates significantly at the direction and behest of of the united states government, not the other way around. in many cases the government's growing size and influence was made possible by good intentions and hopeful policy ideas. behind every spending program, tax incentive and regulation, there's an idea. it might in fact be a good idea, but those good ideas and the not so good ones add up and the cost of everything you do here, every line item, every rule, every carve out, phase out, ear mark drains activity investment and creative effort o