tv [untitled] August 4, 2011 4:30am-5:00am EDT
welcome back here's a quick recap of the main stories we're covering for you today on our t.v. the war when bad was going to roll stores in europe some third largest economy as italy's in debt cost rocket while spain also struggles to stay on track and it's brussels that's being blamed pushing a frustrated public to vote with their feet on a major march. the you once most powerful body condemned syria's deepening violence
even though russia has called to rule out foreign intervention after urgent internal dialogue it comes as protesters in syria claim that they're being quote massacred by government forces and the opposition stronghold of hamas. feel the palestinian suicide bomber has been telling our team she's using her experience to spread peace after being caught before blowing herself up in a crowd of his release she says her second child services dedicated her life to tolerance on both sides. of the tough times in europe and the u.s. feel like they're relatively recent phenomenon but a former head of russia's central bank says the debts been swirling around for ages but now it's being used as a political pawn as he tells our next. at the levels of this aggression hello and thank you very much for being here it
became hard of the central bank when russia began pursuing its shock therapy policy fully advised from american experts how would you advise your american colleagues now with the situation they are facing a live within your means at all that's just what they told us back then that would noisy a whole about our economic and social situation at the time that was a nine hundred ninety two when your gun one part of the government began to listen to their advice after russia joined the i.m.f. that year later they wrote on the famous stiglitz the nobel laureate and former economic advisor to clinton was among them thought they were doing everything wrong what they were telling us was all wrong. with it we think about the ability to live within one's means who's better at that of russia back than or today's years so you . know you of course see the u.s.s.r. was living on credit of course but it was sold and other states were eager to give
credit to the u.s. the last i wasn't you know directly but through european affiliates they all knew after all that the soviet economy was under control and that the country would pay its debts sooner or later even without the high oil prices that's why they were eager to give credit to the us us or especially to finance the purchase of high tech goods to be supplied to the soviet markets in fact is the world after nine hundred forty two the time of crisis for the us america wouldn't sell the u.s.s.r. complete production facilities like a car plant entirely actually chemical plants of which the u.s.s.r. got four billion dollars worth which are played their part in its technical progress the only way the soviet union's credit rating was quite high it's been easy for the us to get credit because of the entire system that's been built up since ninety forty five. and the i.m.f. was being set up there was a heated dispute between the u.k. and the u.s. of course the british had to buy coffee because their economy had been greatly damaged by the war but later led to the devaluation of the pound so in years after
the war in fact all of europe was living off the marshall plan back then and that consisted mostly of like a cultural commodities along with some industrial plant some factories that had to pay for their technological potential and ones that the u.s. didn't need anymore this in part was the reason for america's technological lead over more recent years though it were production capacity is growing rapidly in the third world the share of adoption in america's g.d.p. has been shrinking and that's how america began to live on credits and living on credit is always difficult as a time may come sooner or later when debts will have to be paid off the right now nobody wants to remember that it was in the early one nine hundred ninety s. when bush and the republicans came to power in the us external state debts obtained by issuing treasury bonds with different terms and i think from a week to twenty years under interest rates of legal right now it's been increased still further so generally it's all happened under republican rule my question is
then why all the whole world now it's just political games and nothing more to. come it's time do you think the usa has left before it has to start leaving within its own with the word new if you go anywhere you see speaking of the country's gold reserves the us is our only john the i.m.f. and nine hundred ninety two daughters and honest founders back in one thousand forty five or so we have delegation took part in all relevant discussions and we haven't managed to secure the right to keep our contribution to the capital of the world can go into the reserves of which stalin was very keen to control that was really the gold was to be kept in the u.s.s.r. or the i.m.f. having the right to comment any time to check it was still there and hadn't been sold in the u.s.s.r. could join the i.m.f. before december the first nine hundred forty five there is. the head of god's plan was in a sense he stepped in and said we cannot have the war so poor but we got it on file all the statistics we are by the i.m.f. all we'll see is how much we actually lost in the war so we were better off joining
of them have rules dictate or any country's currency reserves resulting from a good balance of payments and without a budget deficit should be kept abroad either in u.s. dollars or in gold and well it would be ridiculous to buy gold the price of which tended to swing all the way for an eight hundred dollars to four hundred dollars an ounce in just a year the us never maintained gold prices even though it used to be party five dollars an ounce and nine hundred seventy one president nixon raised it to seventy dollars an ounce when the dollar collected the gold dollars throughout france and sent them to the us asking to exchange them for gold the gold content of the dollar was devalued but everyone keeps quiet and it's the good began living on credit you can only keep your currency either in gold or in a currency that was used to ninety percent of world trade at the time unfolded or country where you even though now we've kept it in dollars and euros and even in small parts with francs or something like that since two thousand and two it goes
to the u.s. to some extent believes in debt to the entire world and that is not right sell us managed to avoid attack nickel default but what was the threat to the whole world. if the us a declared default it wouldn't have been able to repay treasury bonds it issued according to the limits set by congress to the u.s. government or to the u.s. president the government heads so they wouldn't be able to replace them with new bonds in time you know what happens within the country if they reach a compromise to cut their expenses. this is no explicit connection to the situation within their country that would on the other hand the dollar exchange rate and could in cash need to be dropped from the world's markets when the exchange rate for securities traded around the world dollars as well and. spite of the fact that they're issued by us companies so they incur bookkeeping losses at the very least even real financial losses will go to a large extent that was formed under the bush presidency like the war in iraq and
their role in the afghanistan conflict over encourage huge military expenses and in fact the whole world including our country has been funding those military costs their budget deficit on their balance of payments deficit there's a good as there are and if we talk about expenses the approved us military budget for this year alone is about seven hundred billion dollars and frankly speaking there are no reasons to believe that these expenses will be reduced do you believe this could be possible if we if we're to believe that i believe that the globalization which has been happening for a while now and which hasn't been given much to underpin our third world countries will result in some kind of collapse and i would thank you since nine hundred forty b. us has raised its dead limit ninety times its become standard procedure but now the situation has progressed to the point of shaking the world's markets and the world was the right and with a known economic territory how did that happen. to
a large extent in the one nine hundred sixty s. or seventy's like a percent of international settlements were in dollars you know of problems between countries that weren't even connected with the u.s. we're in the euro zone as a start was to start giving up national currencies even though some european countries like denmark didn't join. the dollar and the key settlement currency and everyone needed dollars and often required dollars rather than any other currency therefore the dollar became the worldwide currency will give you a world wide spread also calls for worldwide responsibility and the us authorities didn't show enough about responsibility when you have and i mean the number of economists called the actions of the u.s. financially irresponsible do you agree or is it rather a kind of game for the sake of. their own interests. from the viewpoint of economic theory there is certainly a responsibility the rouche a famous american economist of perhaps french or canadian origin ten years ago that
sort of the us economy considering its domestic and foreign economic policy is bound to face a crash like the roman empire which is really a ratings bull we cannot make players central banks will obviously change the structure of their reserves calamus dumping of the u.s. treasury happened and what implications can we expect what else is there for them or chinese colleagues in spite of their trade surplus with us and their own willingness to revalue their currency to keep most of their phones in dollars even though they use them actively to penetrate the development of african and asian economies to develop their infrastructure and so on that there's nowhere to go all the world is established in a uni polar way you can't just get out of a marriage especially when you have kids and. i thank you very much.
the people of the united states and their friends and allies will not live at the mercy of an outlaw regime that threatens the peace with weapons of mass murder is regime as an active program to acquire and develop nuclear weapons and let there be no doubt about we know for a fact there are saying. this we're just being carried out into the direction of dr david kay respected scientist and former u.n. inspector was leading the weapons search in iraq we are determined to take this apart you have a tremendous a group of dedicated american men and women involved in this with the best assets of the intelligence community and for by. day to cheney is not going to be done with this for quite some time david kay wants more time he says it could take another six to nine months to make a definitive finding ministration is asking congress for hundreds of millions more
six hundred million dollars to fund a continuing search you have not yet shiny pointy things that i would call a weapon before we can draw from conclusions we need to let the iraq survey group complete its work. we were all wrong probably in my judgment and that is most disturbing. sometimes the true patriots takes the unpopular course that helps the country of origin stakes and even if they come this way at least from term patriotism is the last refuge of scoundrels and i think these are scoundrels they have no argument now they have no defense for what they did the country is in a terrible international security situation and i think it's perilous so they're attacking the patriotism of others.
up stories on our t.v. barring bad wagon rolls towards europe's third largest economy as a laser death cost rocket while spain also struggles to stay on track and it's a process that's being blamed for pushing a frustrated public to vote with their feet on a major. if you weren't supposed powerful body comes out serious deepening pilot. moving on russia's call to rule out for a good turn bad and urgent internal dialogue it comes as protesters in syria claim there be a quote massacre by government forces the opposition stronghold of hama. a
failed palestinian suicide bombers and telling r.t. how she's using her experience to spread peace laughter in the park before blowing themselves up in a crowd of israelis she says her second chance allows her to dedicate her life since holler at both sides. it's time now for the sports news of united so we hear about it the classics the clash of the world was waiting for has been put on hold why is that yeah in four hundred meters the world championships happened in three weeks time tests a double amputee the fastest not a no legs all star pistorius he's going to paris this storage location for the first time but the current best runner in those four hundred meters he isn't going to be so they're not going to be taking each other on which is unfortunate but yet with plenty more news on not a lot exposed the rest of the sport just a second. time
for joining us i'm busy thursday in the sports world plenty ahead in the. ins that are true because on progress to the champions league qualification play also while nine month glasgow rangers crush ours at the hands of malmo. hoop dreams russia's basketball's quad continue preparations ahead of the euro championships in lithuania where a place in the final would guarantee david plotz team a ticket to the london olympics. sky's the limit nineteen nearing the biggest ever a peep project purge for liftoff in switzerland. that intriguing story that we'll get to that a moment but let's get started. with football where rubin kids are now one step away from making the group stages of the champions league that tougher stan are fit seeing off the nomic e have to make a qualifying playoff round routine went into their home leg the fictional advantage after last week's notch in ukraine. the man getting the ball rolling this time
around nineteen minutes in before alexey made via they've made it to nil a couple of minutes from time to strike right at the death stand consolation for the visitors to rubin or into friday's playoff draw where another two like that for a week. scottish champions rangers meanwhile would jump start by momo following a bad tempered affair and sweden chris whitaker's petulance punished with rangers trying to ten men by the time it's relevant but the visitors twenty four minutes one one and i get the girls who side would then be forced to play their final twenty five minutes with single figures following jade courage dangerous elbow on guard and wrecked c.p. heartbreak with julie a rifle range ten minutes from time jill a one hundred dollars brilliant effort sending the swedes through to the next stage on a two one over old. benfica and meanwhile progress to spectate against
trouble for obvious somebody all a testing the waters before his teammates and only to open the scoring putting the visitors on nothing after ninety minutes three one on i get the home side though pulled one pop in the thirty second minutes and reconstructed in the crowd glimmer of hope for an ops a. blow then occurring for the church fifteen minutes in adrian mears alecky sent off for an elbow on nazi perera one one would be the final score meaning last usual belief semifinal a spin feat that make it safely. it doesn't happen too often barcelona losing by a three goal margin see a lot of the horror of this. right each evening the rare feats record crowd first so i throw a football match packing into the sun life stadium seventy thousand plus fans getting to watch david via the scoring for spanish on european champions bar set four minutes in brilliantly quick feet from the striker but it was all downhill
from then on in for the couple on giants pahlavi and first letting rip with a beauty to equalize moderation writes only our mark and i was just operable just what all of our worth playing more like barcelona done partially themselves at this stage on the reward came on sixty three minutes bobby and showing his first effort was no fluke netting but nice a blind call definitely worth another showing. two more strikes would follow for the mexican team perhaps not as us pleasing as the first couple but they all point to a four one loss for bosh no monitor pep guardiola no doubt hoping they leave that sort of former across the atlantic with them or leave it kicking off. an altogether different even for bosses old enemy real madrid with the cost steamrolling a local chinese side getting a master class from the spanish powerhouse seven one the final score some make it
two years opening goal promptly followed by this effort for a visit also and the thirty first minute a cool fest in full house for visitors but christiana rinaldo also getting in on the action the portuguese scoring with a bulky seemingly all the rage these days but that was the fifth call of the match but take a look at the next one eighteen year old has rodriguez who is pouring with a diving header but really across from the angle the murray at the serves. as manager of the without won seven won the finals for. the twenty eleven european basketball championships are less than a month away with team russia busy running through their paces here in moscow only the finalists up the list you any in tournaments will qualify for the london olympics meaning david plotz injury hit squad have a tough time ahead of them on cross road reports.
russia's training camp began in early july in moscow with the head coach american david black concentrating mainly on bringing his largely inexperienced one to optimal condition in the opening stages the team then moved on to slovenia where they were joined by millar season players like russia's n.b.a. stars and break a leg into my famous golf however the squad is not quite game ready just yet as gaining strength rather than tactics still touch the coaching staff plant i just point the lack of match experience the youngsters are ready to plough in the upcoming friendlies the last four digits or is already gone for at least during practice it's true that some guys are really young and inexperienced however and i won't name any names i like seeing them working really hard and no one is skating there might be some exotic in the offing games but i'm sure it will diminish with each other. was gone is now one of just two centers for russia with says alexander
kaun missing the euro basket utan injury however it's a scot forward and captain big that is off the sick list and will join the scene in lithuania now according to david the blast no side of the european championships is insured against such roster changes this kind of thing is common to almost all the teams and we have to deal with that sort of a you know whether our group is top or not so. it's really hard for me to say i just know that in europe good for my experience every game is different. and you've got to play well the way so we hope that that's what we're going to do in the competitions russia's training camp is now entering its final phase and the team is now ready to absorb david blatt sassy's a head of the euro baskets once eleven in lithuania and we'll see the new team in action as soon as this week when he takes part in a friend its arguments in cyprus ramon cos rival r.t. . oh yeah major event up at another big sporting event is coming up this month and
it is there clerics world championships taking place in south korea stars galore will be in attendance but germany warriner will not be one of them in american cheering a ligament in his left foot an injury which won't need surgery but could take up to your tequila warriner arguably the best four hundred meter runner in the world one called the knot this is the athens olympics in two thousand and four and followed it up with a brace of victories at the world championships also means the highly anticipated shoot on between warner cable and p.t. oscar pistorius has to wait. quite literally in a bottle for more than twenty climbing teams as they begin their cliff conquering project in the swiss alps this week two hundred years since the ascent of the jungfrau summits on the following crew are setting up to repeat that feat which is only the beginning of their journey more than forty one hundred meters to go before
the ultimate goal with some of the twenty three teams benefiting from star studded help cross-country skiing world champion among those props better suited for the rough ride ahead and this is just the first of the one hundred fifty peaks worldwide to be scaled with the himalayas serving as the next stop for the adventure seekers. finally motor sport where the latest stage of the european truck racing championships had a fever this week smolensk playing host to leg six hundred one on the stage but there was plenty more action behind the scenes.