ones that really need to go out of business now you first lou they whistle over corruption in the world bank tell us more about your revelations. well that's actually what happened i was working in the philippines and there was a bank this was at the end of the east asian financial crisis in the end of the nine hundred ninety s. and the second largest bank in the philippines philippine national bank there was a loan to strengthen the banking sector and what happened was a man who owned philippine airlines lucio tahn ended up buying more than ten percent of the shares of philippine national bag without informing the securities authorities in the philippines that was against the law and then i told the person who was in charge of the world bank lending program that they should tell the government of the philippines that the conditions of the loan were not going to be met and instead i was reassigned and i didn't accept that so i went to the meeting where it was decided whether or not to disperse the loan and i said that the board was not being informed that the conditions weren't met and then

to hold the national budget ransom for so long and actually the world bank the global financial markets so i think china is right that is calling for the american isolation of the global financial order are very the world can depend on america and you know what i haven't said that china is still the largest foreign investor in america's debt will still want to remain that way also calling now for that a d. americanization of the. well the problem is that right now you have no choice the u.s. dollar is the global reserve currency every cent com for over sixty percent of global weaker reserve currency so. the chinese government has to hold more than one trillion dollars of u.s. treasuries and i think it is about time that the i.m.f. and the bank for international start to but try to devise a international currency like special drawing rights where of. us are like comprising no more than a twenty or twenty five per cent component i think that will be that will bring financial stability to the global financial market with this release is it's going to tempered by the reality that america's

. >> coming up on this program, teetering on the brink, the world bank also warning about the lebanese as it struggles to home with a huge influx of syrian refugees. plus a report from scotland where the ruling party is holding its annual conference less than a year before a vote on possible caesarian. ♪ ♪ on inside story, we bring together unexpected voices closest to the story, invite hard-hitting debate and desenting views and always explore issues relevant to you. [[voiceover]] every day, events sweep across our country. and with them, a storm of views. how can you fully understand the impact unless you've heard angles you hadn't considered? antonio mora brings you smart conversation that challenges the status quo with unexpected opinions and a fresh outlook. including yours. >> every morning from 6 to 10am al jazeera america brings you more us and global news than any other american news channel. find out what happened and what to expect. >> start every morning, every day, 6am to 10 eastern with al jazeera america. >>> welcome back. top stories on al jazerra. more than 20 wild fir

world bank and eventually to monsanto offices here in washington d.c. now other cities across the u.s. los angeles portland denver orlando just to name a few how similar demonstrations also up in canada and vancouver british columbia there was quite a large turnout for their march against monsanto organizers say this is just the beginning that momentum is going to pick up and they will continue their fight against the g.m.o. giant monsanto reporting from washington and you so now we are. well the company itself says it makes disease resilient crops that need less water to grow one son to also maintains many people already consume genetically modified food with no ill effects but jeffrey smith who's written extensively about the dangers of so-called franken foods says this couldn't be further from the truth. when you look at the animal feeding studies are genetically engineered just the american academy of environmental medicine they said there's gastrointestinal problems immune system problems like celebrated aging organ damage reproductive disorders th

you really look at the world news and you hear what they're saying whether it's coming from the world bank whether the i.m.f. whether the leading bankers of the world or from china with now it's de americanization this was really a spectacle following a series of spectacles that has downgraded america's image worldwide to levels i've never seen so low do you agree with that in london mr keith boy field is the world now going to remember this harry reid this morning saying well that is story bipartisan agreement has been so he's looking at it as a different way the rest of the world how are they going to see this is this going to be a lesson for those of us living outside america it's a wake up call i think particularly for investors you're going to see as a result of this latest piece of political theater a move to review the way in which a lot of countries hold their assets worldwide how or how are the republicans going to pay. for this i mean they are being blamed for the shutdown well first of all i think i don't have a problem with with democracy in action and the way the american syst

the world bank speaking out i.m.f. chief christine lagarde talking about how american legislators need to be responsible but this bickering is ridiculous they need to find a way to get through this to the rest of the world doesn't have to pay for the dire consequences you have the head of the world bank speaking about how default would affect developing economies as well as the developed world and then you of course have u.s. trade partners who are watching very closely some of them terrified countries like china huge economic partners what will happen to them if the u.s. does go head into fall will according to experts whether or not it happens on thursday china is still going to rethink the way it does business with the united states here's jeffrey summers of the university of wisconsin milwaukee and united states of course is an economy which leads global credit and the foreign purchase of its treasury bills so this puts it in a very precarious position moving forward in terms of the ability to fund many of its prog

hundreds of thousands placed on paid leave and vala swathes of the government shutdown even the world bank's chief declared the situation is desperate warning of impending disaster over the continuing standoff has led to protests in the u.s. capitol a group of veterans accompanied by politicians have converged on a world war two memorial in the heart of washington it was closed for visitors during the shutdown just like national monuments and parks broke through the metal barriers surrounded the landmark and then carried pieces of the fence to the gates of the white house and to bomb a protest as it made the rallying point blaming the white house for the continuing impasse in the budget negotiations. u.s. president barack obama's signature health care legislation is supposed to provide millions of americans with the medical coverage they desperately need but the political debate over obamacare has also ironically created a life or death situation for hundreds of citizens for each week the shutdown continues roughly two hundred patients cannot be accepted for clinical treatment at the nationa

world bank and eventually to monsanto offices here in washington d.c. now other cities across the u.s. los angeles portland denver orlando just to name a few how similar demonstrations also up in canada and vancouver british columbia there was quite a large turnout for their march against monsanto organizers say this is just the beginning that momentum is going to pick up and they will continue their fight against the g.m.o. giant monsanto reporting from washington and you see now a arts. well the company itself playing a key role in easing the walls of rapidly growing population and some to also maintains that many people already consume g.m. food with no ill effects but clinton knew from enduro the scent of food safety first profits and not house to giant corporations like monsanto these marches are raising awareness about the issue and bring awareness not only about monsanto and its influence in agriculture but also other chemical companies that have become major agribusiness influences on capitol hill i think you we see an overwhelming influence in

the us government shutdown sparks angry scenes in washington as the world bank warns the deadlock is just days away from causing a global financial catastrophe. two blasts ripped through damascus one targeting a government t.v. channel the other going off near the hotel where chemical weapons inspection team is staying you have the latest report from the city. and in the week's news whistleblower edward snowden raises his head above the parapet as he makes his first public appearance in months outlining what he calls modern day threats to privacy. for am in moscow i met treasure bring you today's top stories and a look back at the week's news massive riots have shaken a neighborhood in the south of moscow where crowds spilled onto the streets after the killing of a local man almost four hundred people were arrested as mobs went on a rampage protesters claim the uncontrolled flow of illegal immigrants has turned the area into a big crime scene or he's lucy coughing off reports from the troubled suburb. in the southern moscow all available moscow police crews had been called to this ar

world bank and eventually to monsanto offices here in washington d.c. now other cities across the u.s. los angeles portland denver orlando just to name a few held similar demonstrations also up in canada and vancouver british columbia there was quite a large turnout for their march against monsanto organizers say this is just the beginning that momentum is going to pick up and they will continue their fight against the g.m.o. giant monsanto reporting from washington and you say no way archie. the company itself says it makes disease resilient crops that need less water to grow monsanto also maintains many people already can seem genetically modified food was no ill effects but jeffrey smith who's written extensively about the dangers of so-called frank and says this couldn't be farther from the truth when you look at the edible feeding studies are genetically engineered through just the american academy of environmental medicine they said there's gastrointestinal problems immune system problems like celebrated aging organ damage reproductive disorders t

help starving people around the world grow food more efficiently store it and distribute it more efficiently create better systems of transportation and energy marketing banking and so on and so forth i think this tremendous opportunities here to create a really but much better economic world a life economy instead of a death or con and i absolutely agree with that but john if the third world isn't perpetual and ventured servitude to the first by design and the riches of the first world based on the debt of these countries how can that ever change we have about a minute left well yeah i think it's going to take a real change in consciousness and on our part and that's why right that's my mind shows like this that's why you're doing the show thank god you are that's why we're doing what we're doing because we've got to get people to understand that the real solution to acts of terror around the world is to get rid of the causes of terror terror the deep underlying causes which are desperation which are poverty which are people's lands being taken away by oil companies and public utility companies and in big multinational corporations if we want to good world a

help starving people around the world grow food more efficiently store it and distribute it more efficiently create better systems of transportation and energy marketing banking and so on and so forth i think this tremendous opportunities here to create a really but much better economic world a life economy instead of a death or con and i absolutely agree with that but john if the third world isn't perpetual and ventured servitude to the first by design and the riches of the first world based on the debt of these countries how can that ever change we have about a minute left well yeah i think it's going to take a real change in consciousness and on our part and that's why right that's my mom shows like this that's why you're doing the show thank god you are that's why we're doing what we're doing because we've got to get people to understand that the real solution to acts of terror around the world is to get rid of the causes of terror terror the deep underlying causes which are desperation which are poverty which are people's lands being taken away by oil companies and public utility companies and big multinational corporations if we want to good world a sus

. >> reporter: next year the world bank says an additional 170,000 lebanese will not find jobs, addingthe already 1 million who live below the poverty line and they have been hurt by the syria crisis and the middle and lower income workers who have been hit especially hard. before the mass migration of syrians lebanon already had a weak labor market. and he is among the thousands of qualified lebanese who can't find work and a bio chemist graduate who doesn't blame syrians for the country's economic ills. >> translator: there was an economic problem before the syrians came. the problem is the government, needs to find solutions. >> reporter: undoubtedly lebanon is a casualty of the war in syria and the people are just as much victims as the syrians themselves. al jazeera beirut. >> reporter: audi arabia rejected the seat on the council a day after being elected as a nonpermanent member and accused of double standards and hard to end wars and conflicts and it called for unspecified reforms and the five permanent members have been divided over the crisis and russia and china will impose

world bank and eventually to monsanto offices here in washington d.c. now other cities across the u.s. los angeles portland denver orlando just to name a few how similar demonstrations also up in canada and vancouver british columbia there was quite a large turnout for their march against monsanto organizers say this is just the beginning that momentum is going to pick up and they will continue their fight against the g.m.o. giant monsanto reporting from washington and us in our way our chief. british euro skeptics are whipping up a storm over a dramatic rise in the number of immigrants from europe now calling the u.k. home a recent report says six hundred thousand of them or one percent of the entire population are unemployed and nearly costing taxpayers more than a billion pounds and health care costs alone more now with the chair of the bruges group think tank joining me live from london but the report found that most of those who come to britain they're looking for jobs are not looking for handouts so their intentions are all the fuss because isn't

scandal i'm joined by my guests in washington karen who is she's a former senior counselor at the world bank and a whistleblower and we cross to daniel mcadams he is the executive director of the wrong paul institute or a cross in effect that means you can jump in anytime you want daniel thank go to you first i mean obama says he wants free form of the aid to intelligence agencies but we still don't know what he knew when when he knew it and i always get nervous when a politician says that's classified so i mean what is his words mean about reform or does he just want this thing to go away and i'd like to point out to our viewers is that as congress said sound and talks about this we're probably going to get some more scandal more stories and more lies so i mean this seems like a fool's errand. well you're right peter and you know what what jay carney the president spokesman said is you know the president knew nothing about it however the n.s.a. is doing a great job what they're doing anyway so it really does raise some very troubling issues does the president have control over the n.s.a. do

the us government shutdown sparks angry scenes in washington as the world bank warns deadlock is just days away from causing a global financial catastrophe. to blast terror to mask is one targeting a government t.v. station the other going off near the hotel where chemical weapons inspection team is today we have the latest from the capital. whistleblower edward snowden raises his head above the parapet as he makes his first public appearance in months outlining modern day threats to privacy. to it in moscow i met bring you today's top stories and a look back at the week's news massive riots shook a neighborhood in the south of moscow where crowds spilled onto the streets after the killing of a local man almost four hundred people have been arrested as mobs went on a rampage protesters claim the uncontrolled flow of illegal immigrants has turned the area into a big crime scene artie's lucy cavanagh reports from the troubled suburb. or in the southern moscow all available moscow police crews had been called to this area to try to calm the tone down the on the rest this was the scene of

. >> the international monetary fund and world bank are holding their annual meeting this week in washington. that means top finance officials and economists from all over the world have a front row seat. al fallout could lead to resessions possibly here and around the world. >> hopefully congress wakes up to the fact that it is not just what they are doing, it is not just their own political agenda it is the middle class, it is the core of america, it is other economies that are depending on the united states. >> but i heard one representative say we don't need anyone from the world bank to tell us what to do. >> apparently they do. they are not listening to us. >>> the founder of facebook has been going on a buying spree for real estate. we'll explain that, coming up. >>> commuters in one of america's biggest cities are breathing a sigh of relief, we'll explain that, coming up. >>> dry ice causes a major security problem at february, 2013. a landmark transportation bill is up for consideration. even though it's backed by republican governor mcdonnell... ken cuccinelli joins tea party repub

we have quite a number of projects where the work with banks in the developing world. we provide a credit line and technical assistance to capacity building so the bank employees can learn how to assess these kind of projects and figure out whether or not there a good investment. we provide finance to basically kickstart the markets. if we do enough of that it will become self-sustaining. it's a huge issue. there's this conundrum around the low-hanging fruit. having said that i think in the developing world, because the size of the unmet energy needs are so large, we can get all the way there. i think in the developed world we have contribute a lot. that's why we're seeing it being so flat. the rate at which demand is growing relatively small compared to what we can deliver through energy efficiency. in the developed world, developing world i think they can flatten the curve a bit but the curve will still be going out. we need to think about this estimate of what's going in pl play. >> during this presentation you didn't touch upon the 10-foot pole. let me ask you. two

world. that will be strengthened by the tax compliance act. next year, banks will be forced to report american owned assets or face sanctions. >> other than wait until this new berlin wall is built to try to keep u.s. citizens in the country, i decided, it is better to get out before the wall is built. >> divorcing america can be expensive as well. they must pay an exit tax. >> they continue to be liable for taxes. the fact that they renounce their citizenship does not save them from having to pay their taxes. >> they've been asked to declare their income, but the u.s. had no way to check for themselves without a court order. >> for more on the new tax law, we are joined from san francisco by robert a wood, tax lawyer and managing partner. thank you so much for joining us, robert. let's get straight into this. this new law is going to start july 1 and will require all financial institutions to report directly to the irs. that is a very complex law. explain the requirements. >> it requires direct reporting. one of the surprising things as a tax lawyer is the wo

the world bank the global economy can't afford to come this close to recession due to internal politics in washington now another interesting point is that republican leaders probably could have mustered this support we've song shutdown day sixteen back on september thirtieth and the self-inflicted halt on capitol hill would have been avoided altogether. the budget brinkmanship has cost the world's largest economy twenty four billions of dollars as well as of the trust of investors around the globe let's get different opinions and more in-depth analysis from our panel of guests here with me in the studio is ben areas it's good to have you with us he's the editor in chief of business news europe in london we have nick parsons head of the european and u.k. research for national australia bank and in the hong kong richard hands were the c.e.o. of universal credit rating group now first too bad you thought before that there wouldn't be a deal but here we are default averted and isn't that a reason to celebrate yes indeed i mean it would have been extremely damaging and customer a lot of mon