a pole dancer and you could indeed be a mark carney the new head of the bank of england as a sort of pole dancer enticing you to take with cash remains in your pocket and stuff it in the collective g.-string of the banking system only in this case what that g.-string wearing financial system flashes back to you in exchange for your hard earned cash is a be don't be believe bottomed and toxic capital market that let's face it isn't really all that appealing to look at know best you close your eyes. stacey. yes max you know mark kearney we gave him two days before we started talking about him because he started this week at the bank of england and of course the reason why he was brought in is not only because mervyn king was leaving but the sense is that he's going to rescue the financial system that collapsed along with the lehman brothers back in two thousand and eight now lehman brothers dick fuld is in the news in a sort of pole dancing kind of way folds tiny stock is penny from heaven and this is according to the f.c.c. filings of matrix advisors which he and his wife run he is a

the bank of england and all the banks and the u.k. as financial terrorists by creating this term of capital g. hottest but of course he's misapplying about term the banks of course they would need capital reserves.

that's what the bank of england. walter bagehot wrote a book about and that establish some of the doctrine of what central bankers have been doing since 200 years since. you're the lead of last resorts your you lend freely at ability rate. you stand ready to make money available when it is otherwise not. it's not a seamless progress of, for the good when you look at its history. a lot of you probably know the stories of the 1920s what happened in germany. the power of the central bankers use and it sometimes misused. so this is a prime example. after world war i there's reparation payments the german government is supposed to make. and a mannamed rudolph was the central bank for germany in the early 1920s and he saw it as his priotic duty to print money, however much was needed fund the government to meet its obligations. you can imagine how the story ends. you just print without regard what happened to the price level. it becomes an inflationary force. he had this odd obsession with physical technical job of printin

as i've said for years the bank of england are indeed like the taliban.

that the bank of england r g hardy's for insisting banks minimum capital reserves. vince then sven is all boy as i've said for years the bank of england are indeed like the taliban but only because they provided the safe haven for the jihadi of banking fraud who strapped on the debt packed suicide vest and blew up the entire frickin economy. and that same taliban central bank is now papering over the bloody aftermath with little pieces of digital paper. why walled up a time here a nazi straight to spain we go to some devastating seems to show you where at least seventy seven people have been killed on high speed passenger train derailed in the northwest of the country over one hundred thirty others injured some critically it's being labeled one of europe's worst ever rail disasters the crash happened on a curve in the track report suggesting the train could have been moving three highest officials were quick to rule out sabotage or terror. and to iraq where at least twenty two have been killed dozens injured in a spate of attacks and bombings in the deadliest assaul

the bank of england. expectations are pretty high that the former head of the canadian central bank can turn around the british economy. ♪ >> reporter: today a canadian is going to become one of britain's most powerful men. after 319 years, the bank of england governor is going to be a foreigner, mark carney. like his hero, ice hockey legend wayne gretzky, carney has been billed as the great one, even the best central banker in a generation. but with uk growth stunted and banks still in turmoil, the incoming governor will have to put his game face on to thaw the ice. ever since the chancellor chose mark carney as the new bank of england governor, he's been seen as the ultimate dove, happy to use and perhaps overuse, even if it makes us all feel a little bit too sick. back home in canada, the gloss has started to come off a bit. with the housing bubble caused by low interest rates and too much lick wis i had, the oecd have said that canada's housing is the third most overvalued in the whole developed wor

saying that the bank of england are jihadi for insisting banks have minimal capital reserves. vence then sven is all boy as i've said for years the bank of england are indeed like the taliban but only because they provided the safe haven for those he hardy's of banking fraud who strapped on the debt packed suicide vest and blew up the entire frickin economy . and that same taliban central bank is now papering over the bloody aftermath with little pieces of digital paper. and i why give you a preview of the kaiser report and we can give you the whole program right now live from moscow it's on. boy oh boy there are a lot of conspiracy theories out there for a mysterious extra planet strip kilian creatures living among us but there also may conspiracy theories that are very plausible and some never will actually true one that i've heard for a long time is that they are specifically trying to fill the police with dimwits to abuse the american people which is silly right right well according to a.b.c. news the discrimination lawsuit revealed that robert jordan was denied the chance

the bank of england are jihadi for insisting banks have minimum capital reserves then then this is all boy as i've said for years the bank of england are indeed like the taliban but only because they provided this safe haven for their jihadi banking fraud is strapped on the debt pact suicide vests and blew up the entire frickin economy. and that same taliban central bank is now papering over the bloody aftermath with little pieces of digital paper. do stick around if you can for the cars report here on r.t. for the meantime though on the program the u.s. senate has held a hearing on the closure of guantanamo bay prison at the first since two thousand and nine and five years after obama's pledge to close it down many detainees will now have their cases reviewed by a special panel which will decide whether they should remain behind bars most haven't even been charged with any crime due to a lack of evidence but they were considered too dangerous to be released this report to. this is the first significant congressional hearing that has been held since two thousand and nine course preside

bank of england r g hardy's for insisting banks minimum capital reserves. the bank of england are indeed like the taliban but only because they provided the safe haven for the. banking fraud strapped on the debt pact suicide vests and blew up the entire frickin economy. and that same job and central bank is no papering over the bloody aftermath of little pieces of digital paper. the u.k. government is opening up a new front in its struggle to deal with illegal immigration violence carrying signs urging immigrants to seek free advice on how to go home to appear on the streets of london and this isn't the first initiative like this the fight against immigration begins beyond britain shuls a previous had written is in campaign aimed to stress the negative parts of life in britain hoping to turn off potential immigrants from the e.u. from november a pilot scheme will see those who do arrive from countries deemed high risk have to pay a three thousand pound bomb to and to britain to be returned only when they leave and here are some questions from the new citize

the bank of england are jihadi for insisting banks have minimal capital reserves. then then this is all boy as i've said for years the bank of england are indeed like the taliban but only because they provided this safe haven for the jihadi of banking fraud who strapped on the debt packed suicide vests and blew up the entire frickin economy and that same taliban central bank is now papering over the bloody aftermath with little pieces of digital paper. are nearly time for the aussie walt update but for now the u.k. government is opening up a new front in its struggle to deal with illegal immigration vans and carrying signs urging immigrants to seek free advice on how to go home to appear on the streets of london and this is not the first initiative like this for example the fight against immigration begins beyond britain's shores previous advertising campaign aimed at stressing the negative parts of life in britain hoping to perhaps ward off potential immigrants to the e.u. from november a pilot scheme to see the need to do a ride from countries are deemed high ris

dealing with the bank of england mark carney's new shop then the rate of interest is negative in other words they pay you to take out a loan at one go they charge me five thousand percent at the bank of england they pay me two percent they pay me to borrow money that's the difference those any assets of wires or those huge wealth and income gap in the u.k. and around the world well because if you're on the inside you get paid to borrow money if you're on the outside of the interest rate apartheid wall then you get charged five thousand percent to borrow money and then you go on the b.b.c. and say we are going to think well nothing but look at them but they're going by what the got the do the do the do it just means efficient markets theory you know i'm not backed by a poster i mean those things i did i would. it's fraud. in northern ireland unionists are planning yet another parade in belfast this despite a recent series of street clashes with nationalists the orange order has apply for permission to hold a march this weekend sparking accusations that it is deliberately stirring up con

dealing with the bank of england mark carney's new shop. then the rate of interest is negative another word they pay you to take out a loan if i wanted a bank of england and i was one of these banks and i borrowed a million dollars i borrowed a million dollars it wouldn't cost me any interest rate of all at all at one go they charge me five thousand percent at the bank of england they pay me two percent they pay me to borrow money that's the difference though then he ask yourself wires are those huge wealth and income gap in the u.k. and around the world well because if you're on the inside you get paid to borrow money if you're on the outside of the interest rate apartheid wall then you get charged five thousand percent to borrow money is it any wonder the entire world is up rising. the u.s. congress has given the intelligence community and ultimatum scale back mass surveillance or lose power entirely but this happened at a house judiciary committee hearing where cross party lawmakers demanded greater accountability but some doubt that the

a pole dancer you could indeed be a mark carney the new head of the bank of england as a sort of pole dancer enticing you to take with cash remains in your pocket and stuff it in the collective g.-string of the banking system only in this case what that g.-string wearing financial system flashes back to you in exchange for your hard earned cash is a lot be don't be don't believe bottom to toxic capital market that let's face it isn't really all that appealing to look at know best you close your eyes stacey. yes max you know mark carney we gave him two days before we started talking about him because he started this week at the bank of england and of course the reason why he was brought in is not only because mervyn king was leaving but the sense is that he's going to rescue the financial system that collapsed along with lehman brothers back in two thousand and eight now lehman brothers dick fuld.

rebukes and burn named mark carney at the newly installed head of the bank of england said and know what more bond buying in other words and no word for england u.k. central bank voted unanimously against more bond purchases the british pound rallied and the dollar fell and just a bet bob inglis will talk about the fall of john mcwhorter zein with john breaux and james gets a list of the commodity comes to market how will the. let's get to what's in your prime interests. i. well the globalist saga continues as course it appears in the crosshairs of the primary futures regulator that would be the c.r.t.c. but leaks from the department of justice suggest no jail time for the next gold the night x. senator x. governor of new jersey earlier i spoke with james good to listen john roll the commodity customer coalition i first asked about the most recent developments in the corps and court cases. it's pretty good news for customers all around to see if to see a couple weeks ago simultaneously filed and settled with m.f. global inc and customers are going to get one hundred percent of their

that makes mark carney the first foreigner to be governor of the bank of england. carney assumed the position after resigning as canadian bank central chief last month. they the, cone ceconomy. that's despite massive credit using and expansion of loans under carney's predecessor. carney will attend his first policy meeting on thursday. the focus is on how he will get the british econ mow and stabilize prices. >> u.s. stock prices rose on monday as investors were encouraged by strong data on manufacturing activity and construction spending. the dow jones begined about 4 sla -- gained about 4/10 of 1%. we go to the tokyo stock exchange. the tock markets managed to kickoff the second half of the year on a positive note. how are things looking like this morning? >> good morning. the opening levels for july 2nd is tuesday and looks like this. the nikkei is up 0.9%. very near the 14,000 level of the closing at the highest in about a month. the broader topix is also higher by 0.86%. it seems that investors are really encouraged by the economic data in the u.s. the institu

money printing to the west to bank of england bank of japan and then reserve bank of america is to those economies what oil is to opec and the opec nations because the oil is the socially controlled by the state they don't need people to vote they don't need people to work the people live in a stipend in those countries in america in japan and in the u.k. increasingly people are living on a stipend set by the state who doesn't need them because they can print all the money they want to make themselves as rich as they want just like having an oil well you pump the oil and you become a sheik and you come to london during the summer to escape the heat in the mideast if you have j.p. morgan banker or nature's b.c. banker you print trillions of dollars and you live like your sheik at the expense of a thriving economy. and u.s. district judge has ruled that only president obama has the necessary authority to stop the force feeding at the guantanamo bay detention facility that's out there dismissing a request from a syrian prisoner who has asked for the painful practice to be stopped now the sa

of england can keep its rates low. one piece of advice i will not be taking is on saturday, the leader of the labour party said he wanted control borrowing. that shadowe said borrowing will go up. >> admin the band. -- ed miliband. >> mr. speaker, last may, the education secretary said, "work will begin immediately on 261 roger x under the building program the bank can you tell the house how many have begun? >> infrastructure spending under this government has been higher than it was under labour. we have 400 billion pounds reserved for capital spending on our schools. we have had to clear up the appalling mess left by the building schools for our future program. the do not think he knows answer, mr. speaker. i will tell him the answer. schools were 261 promised. only one has started. now perhaps he can explain why. >> we have had to recover from the appalling mess of the noting skew was -- building schools program. that is the mess we inherited, as well as a record deficit. but it is this government that is providing

a pole dancer and you could indeed be a mark carney the new head of the bank of england as a sort of pole dancer enticing you to take would cash remains in your pocket and stuff it in the collective g.-string of the banking system only in this case what that g.-string wearing financial system flashes back to you in exchange for your hard earned cash.

and the newly installed mark carney at the bank of england they're distancing themselves from bernanke eight because when ben sneezes the entire world convulses not only has a cost of borrowing in the us exploded over the last month but european rates have actually screamed higher at a faster rate and china one of the most important commodity markets in the world and they're in quite the pickle just today the state council announced a major shift in policy after over a decade of building not only potemkin villages but entire potemkin industries they recognize their goose is cooked so that ten percent magical g.d.p. at any cost it's unsustainable think general motors dealer channel stuffing writ large oh and by the way i'll be talking tesla with justin underhill on today's daily duel so we're going to.

and the newly installed mark carney at the bank of england they're distancing themselves from bernanke eight because when ben sneezes the entire world convulses not only has a cost of borrowing in the us exploded over the last month but european rates have actually screamed higher at a faster rate and china one of the most important commodity markets in the world and.

a pole dancer and you could indeed be a mark carney the new head of the bank of england as a sort of pull down sir enticing you to take would.

central bank and its cohorts abroad such as the bank of england the e.c.b. etc. the reason why they keeping rates low the reason why they're doing massive q.e. buying bonds is since the natural bull market is over and you have an official point we're supposed to turn. if rates were to go up it literally destroys all the profit entities these are countries so different states some myself and states because i can't really call ireland a sovereign state i should be so the sovereignty when they decide to accept austerity in exchange for saving the banks which were going to fail anyway which is a totally different conversation so when nature takes its course the nature will economic nature will eventually. resume you're going to have both nation states and banks and certain businesses they're going to go under this is guaranteed this illusion is you know let the profit it let the insolvent go because by forcing and this may be something that may have been preordained we never know but by spending throwing good money after bad you actually having certain states having

reviewing some burn named mark carney at the newly installed head of the bank of england said and no more bond buying in other words and no word for england u.k. central bank voted unanimously.

and the newly installed mark carney at the bank of england they're distancing themselves from bernanke you because when ben sneezes the entire world convulses not only has a cost of borrowing in the us exploded over the last month but european rates have actually screamed higher at a faster rate and china one of the most important commodity markets in the world and they're in quite the pickle just today the state council announced a major shift in policy after over a decade of building not only potemkin villages but entire potemkin industries they recognize their goose is cooked so that ten percent magical g.d.p. at any cost it's unsustainable think general motors dealer channel stop being written large oh and by the way i'll be talking tesla with justin underhill on today's daily duel so we're going to walk you through it all today so stay tuned for what's in your prime interest. we just celebrated us independent state so let's talk about central bank independence the fed just celebrated its one hundredth birthday it was set up to be a lender of last resort during financial panics ove

ecb, the bank of england, japan, and that push/pull with the fed, how does that play out for equities? we clearly see how it's impacting emerging markets. >> if nothing else it's going to increase volatility. you're at the inflection point in the u.s. yes, i know we're not going to have a new rate cut -- any rate hikes for at least two years, until 2015. we haven't had a rate cut since 2008. that's sort of a secondary issue. the fact that all this extra money has helped push the equity markets higher. the fact that they're draining it. you look at japan, they're basically the qe junkies homeland right now. they're the ones continuing the whole policy. in europe there's very few ways to play it, one of them being reno. >> why reno? >> it's got the stake. exposure there. weakening currency will help them. that's sort of a main program. >> does the strengthening dollar that we've got, is that going to play a part in your -- >> it should help -- it should offset some of the weakness within the eurozone. i wouldn't be surprised if in the u.s. earning numbers you see them shaving a couple c

of england can keep interest rates low. one piece of advice i won't be taking is on saturday the leader of the libby pardon city want to control borrowing but on sunday the shadow chancellor said borrowing would go up. so perhaps the leader of the labour party would admit when it is tuesday, labour would borrow more. miliband. [shouting] >> mr. speaker -- mr. speaker, last may the education secretary said, and i quote, work will begin immediately on 261 projects under the priority school building program. can the prime minister delta house how many have begun? >> what i can tell him is infrastructure spending under this government has been higher than it was under labour. we have around 14 billion pounds reserved for capital spending on our schools. we have had to clear up the appalling mess left by the building schools of the future program. >> ed miliband. >> i don't think he knows the answer, mr. speaker. i'll tell him the answer. the answer is, 261 schools were promised, only one has started. now perhaps you can explain

economists expecting around 160,000, and all of that is both the ecb and the bank of england yesterday offered forward guidance breaking with the tradition saying that record low interest rates will be maintained for a prolonged period. part of it is almost hard to separate what is going on with us today, because of what draghi said yesterday. >> all part of the same story, because the ecb and the bank of england came out to say that when the yields in the u.s. jumps, it sets rates along other developed markets and they have had to deal, and image anyone the position of europe and britain and not only as strong an economy as the u.s., but you have to deal with the higher rates as a result of it, and they are trying to push back against it. i will quote citi because this will give you a sense, they say that a positive response today is more likely to unwind the currency blocs and replicate and this is important because we are are seeing it, replicate the mid-june forward and we saw bond flow redemptions and the yields higher and people worrying about the emerging markets, and that patte

central bank meetings, the fed, the bank of england, ecb, plenty of data, pmis and the jobs report at the end of it. no one really wants to get in the way of that. the index down at five-week lows. dollar/yen currently at 97.96. let's talk about japan. shoppers are spending more. june's retail sales climbed 1.6% from the same month a year ago after little less than analysts' forecast. recent economic data in the country has improved steadily, prompting some to highlight the effectiveness of abenomics. kuroda said a retail sales tax hike is needed, and it won't kill economic progress. the bank of japan governor said it's important for the government to get its books in order to show that the central bank isn't monetizing cabinet spending. his comments come as prime minister abe's review, the government wants to soften the blow to the economy. a final decision is expected in august. joining us with his thoughts, miles branchle at pimco. miles, good to see you. >> good morning. >> how much does it matter what they do with the sales tax? >> i think it's quite important. it's about the pac

she was the person who succeeded in getting the bank of england to put the face of author jane austin on the ten-pound note. austin, as you probably know wrote "pride and prejudice." england often puts historical figures on its money. darwin to churchill. how did that lead to death threats is hard to imagine. keep in mind some 49ers fans tweeted death threats to david akers because he missed a field gold. the british bank barclays will offer a second round of stock, billions and billions in order to put more money in the bank. british bank regulators says barclays was undercapitalized and forced to move. why do you care? because it's 2013. barclays says it's fine. we don't want to hear a bank has been forced to raise $12 billion. that's the kind of stuff we talked about in 2009, not 2013. >> we don't need economic scares. >>> 5:56, let's check in with christina loren to get our tuesday forecast. >> good morning. we are getting such beautiful sunrise shots. i can't wait to show you those in the 6:00 hour. this morning, though, nice and crisp to start. you'll probably need a jacket. 84

the bank of england still faces big challenges. this is a verdict from pricewaterhousecoopers which claims that inflation will be above target for a while, creating a dilemma for the bank of england. all the details at cnbc.com. you can follow on twitt twitter @cnbcworld. >>> still to come, bank of japan held policy steady, but shake up its vocabulary. the central bank dared to use the r word for recovery. we'll be in tokyo for the latest after this. [singing] hoveround takes me where i wanna go... where will it send me... one call to hoveround and you'll be singing too! pick up the phone and call hoveround, the premier power chair. hoveround makes it easier than any other power chair. hoveround is more maneuverable to get you through the tightest doors and hallways. more reliable. hoveround employees build your chair, deliver your chair, and will service your chair for as long as you own your chair. most importantly, 9 out of 10 people got their hoveround for little or no cost. call now for your free dvd and information kit. you d

according to the bank of england. that's not -- the dollar index is currently up near 4-week highs. we're getting back slowly towards that 100 level eurodollar pretty steady at around 130.26. >>> still to come, the recent slide in japanese equities dropped to levels where it is now time to reinvest. that's the chosen strategy for our next guest. the nikkei today back over the 14,000 level. second hour of worldwide exchange coming up right after this. >>> you're watching "worldwide exchange." i'm ross westgate. your headlines from around the globe. make sure the voices of all egyptians are heard. responding to a demonstrations through a political process. this as egypt's foreign minister resigns. >>> greece wants to get its house in order. the finance minister quits as he admits he lost public support for his austerity plan. >>> in italy, mario monti threatens to withdraw from the coalition amidst the slow pace of reforms. >>> the world's biggest pension plan in japan posted highest annual profit ever, $112 billion. th

cable has accused the bank of england of choking off an economic recovery by imposing excessive demands on banks. describing sections of the boe as, quote, the capital taliban. he echoed the views of the chancellor george osborne concerned a reluctance of financial institutions to lend is damaging the prospects of british business. this comes as figures from the british bankers association showed borrowing by nonfinancial firms edged up by 172 million pounds in june. and the number of mortgages hit a 17-month high. >>> the top job at rbs is still to play for apparently. this after black rock confirmed that mark mccombe who heads the asian operations, turned down the role of rbs chief executive. it follows a report in the financial times which said he was the external front-runner for the post. the uk bank told cnbc they could announce a replacement as soon as next week. here is a look at how rbs shares are performing, firmer, up more than 1% today. >>> and some interesting news as well in the banking sector. icbc lost its title as the world's biggest bank by market capitalization. after

many believe with ecb and bank of england meetings closed on thursday and friday jobs numbers on our sides, volume tilts will remain high. if you don't believe me, look at the straddles for the treasury complex that go off on friday. they are running a definite rich. look at ten minus two spread and talking about speechning, a little less than two years, want to pay attention to that, but maybe the most important chart, a little over a three-year high on the zone. trading our tens versus european tens in the mid to upper 70s. sue, back to you. >> thank you very much, rick. appreciate it. you're up to date on the interest rate curve and the bond market. >>> last week "power lunch" first told you about a second wrongful death lawsuit against energy drink-maker monster beverage. the family of a 19-year-old filed that suit and an earlier suit was filed by the family of a 14-year-old girl. monster trades at the nasdaq, as you know. the stock is down since last year when word emerged lawsuits were possible, but the stock is actually up 8% just in the last week. last week we had one of the

what will be key is what happens at the end of the week with the bank of england and the ecb meetings on thursday and the jobs report coming out on friday. back to you. >> big week, actually, for meetings and data, even though it is a holiday-shortened one. sharon, thank you. we're in the final stretch of trading, about 50 minutes before the closing bell sounds on this first day of the second half of the year. the dow kicking off, up 121 points right now. s&p 500 also stronger. >>> coming up on "closing bell," is ben bernanke and the fed giving the consumer too much credit? somebody here is warning just that, and it could have disastrous consequences. the debate coming. >>> also, groupon. you know, you love the deal that comes in your e-mail. but should the stock be the target of your affection, as well? we'll look at that. >>> plus, just when you thought the duel was done, carl icahn is back again, this time with $5 billion in hand. he'll explain his latest move coming up to maria exclusively. >> yeah, we want to take you live to egypt, get you the latest on the protesting going on.

>> i believe so drk no, oh, stop it. >> doesn't she own the bank of england? >> still, all the lines. >> not a word in edge-wise, and we're 2 # 2 minutes into the show. >> i'll join the show from the set. >> there you go. all-star week, coming up on major leek baseball, but the performance enhancing drug scandal is not going away. big suspensions for the game's most talked about players. fox and friends host is next on that. i speak to 20 major-league baseball players including alex rodriguez, may be suspended after the all-star game because of performance enhancing drugs. they will make these suspensions after the all-star game. speed they are trying to put baseball on the spotlight. they have taken a backseat to the nba playoffs. the ratings are down on television. they want the limelight to be at citi field in queens new york. they do not want to be talking about suspensions. we will be talking about them who are accused of cheating. stuart: you are right. don't you think, though, that the attendance and ratings would come back again if we had guys banging

now the head this all happening ahead of the bank of england monetary policy decisions due thursday. it is not just the fed this week of course. those policymakers in the u.s. will kick off their own two-day meeting tomorrow. take a look across the major european markets now. mixed picture as you can see on your screen and also mixed when we look at the fste adding literally a couple points this morning. france down by a few, germany up by a few. the big mover appears to be italy, down by 0.9 of 1% and smaller moves elsewhere. britain a wpp will be taking over by the omnicom group assuming that is approved as the world's largest ad company. shares adding 1% and wpp up about half a percent. elan trading higher in their home country of ireland after they agreed to be acquired by perrigo. they have been talking details all morning. those shares up 3.8%. >> bring in bob and see what's moving to the downside in this case, bob. >> started at 11:00. this is a little bit of a -- immediately i got top lines of people saying judge say lawyers for hank greenberg should be allowed to depose bern

michelle was talking about this, the bank of england saying -- coming out with a statement they didn't do anything. we hardly get a statement where they don't do anything. but this statement said the implied rise in expected future profit of bank rate is not warranted by the developments in the economy. in other words, ecb has also said, never precommitting, but came out and expected rates to remain at present or low levels for an extended period of time. never said that before. didn't know what an extended period of time means, but not six or 12 months. still not sure if that means it is three months or 15 months. but anyway, that was the comment from the ecb. certainly lifted the equity markets. dax up 2%. today, little more caution after the big rises. we have employment report, the ftse 100 up .6. the portuguese government has come out and said we had talks with our coalition partners, we think we'll be okay. don't think there will be any more resignations, but yields still elevate and above 7%. on the 7% mark at the moment of portuguese yields. push it on to the debt market, we'll

in japan, the ecb, bank of england, and our fed. we have a very false market which is buoyed by this tremendous amount of money that's been created by nothing, checks for free, and if there's any crack at all anyplace in the world, you're going to see a tailspin that's going to be very unpleasant to be on the plane for that ride. >> many of us, including yourself, art cashin, myself, talk about it's more than that. do you think even with the logic of that distorting the taper, it's a subsidy. i don't care logic or no logic, any form of removal is going to give us more hiccups. agree or disagree? >> no, i totally agree. as a matter of fact, the real number with the rollovers and so forth is about $100 billion a month. also the treasury came out and said that they're going to be cutting the amount of money that they're going to require so that means the fed is even going to be buying a bigger percentage, and it's, as i said a very false market created by all this free money. >> well, mark, i'm going to have to cut you short. thanks fo

about tapering. >> they gave more support for the guidance which the bank of england has recently adopted and bernanke has em phasized in the remarks that along with qe, and forward guidance, it is with the accommodation of forward policy and whether when those two things end, it will amount to a tightening remains one of the questions that people are debating. >> can i point out that the data book is going to be released this afternoon, and at 2:00, and so that will assume that the tape sr is still in place. >> and now we are joined by midtown manhattan steve liesman who -- oh, at headquarters, and this is not how you want to go out if this is the last appearance. >> well, it is memorable, and the one where the microphone did not work and the testimony is not delivery, and bernanke would be fine to have his testimony stand and not answer the questions. i want to know how much of the questions get into the finaler points of the qe that the market wants to hear, and the guys in the house are interested in promoting the political purposes, but simon hit on a question there that i believe th

she has a very long and distinguished career and international finance at the bank of england. that is "the washington post" and the times of london and of course the u.s. treasury department where we work together and number of years ago. and importantly her biography says she was born in washington d.c.. like me, that is also true. we have parents of reddish origin but unlike me her parents were wise enough to spend enough time in the u.k. that she picked up that wonderful accent that i unfortunately did not. you will see in the second. with that caroline. >> thanks very much matt. it does require a little bit of explanation when i show up as president obama's chauffeur and in fact the g8 david cameron said i had been wondering whose side you are really on. anyway it's a pleasure to be here this morning and i've want to exclaim to our colleagues that i was just meeting with my russian counterpart so he said that is why she is not here and i said she is why i am late. i think that goes to part of what is so valuable about the g20. i should be clear and interest because when ma