now glenn stevens also mentioned at the very top of his speech this notion of an asian bank of international settlements including australia for a stroller to be included in this so he's. mention this yes and he's saying let's get rid of all these monkeys jumping around in the pools cannibals look fine yeah sometimes we have fun guys report gets to have some chuckles at the monkeys jumping around at the bank of england now i want to call attention to this piece i saw in december fourth time newspaper here in london an american target for golden shops. and here is the times saying that china in numbers one thousand that is the amount of gold and tons that china expects to be consuming every year by twenty fifteen they also know china shows every sign of being a gold hoarder chattering among gold traders puts chinese total reserves at two thousand tons and they expect it's actually three thousand tons and what the times looks at this and says what the plan is for china it is incremental measures such as this combined with the fat in gold reserves that suggest to some that beijing is planning s

now glenn stevens also mention that the very top of his speech this notion of an asian bank of international settlements including australia for a stroller to be included in this so he's mentioned this yes and he's saying let's get rid of all these monkeys jumping around in the pools cannibals look fine yeah sometimes we have fun guys report gets to have some chuckles at the monkeys jumping around at the bank of england now i want to call attention to this piece i saw in december fourth time newspaper here in london an american target for golden shopped. and here is the times saying that china in numbers one thousand that is the amount of gold and tonnes that china expects to be consuming every year by twenty fifteen they also note that china shows every sign of being a gold hoarder chattering among gold traders puts chinese total reserves at two thousand tonnes and they expect it's actually three thousand tons and what the times looks at this and says what the plan is for china it is incremental measures such as this combined with the fact in gold reserves that suggest to some that beijing

now glenn stevens also mentioned at the very top of his speech this notion of an asian bank of international settlements including. an american target for golden shopped. and here is the times saying that china in numbers one thousand that is the amount of gold and tons that china expects to be consuming every year by twenty fifteen they also know that china shows every sign of being a gold hoarder chattering among gold traders puts chinese total reserves at two thousand tons and they expect it's actually three thousand tons and what the times looks at this and says what the is for china it is. this combined with the fat in gold reserves that suggest to some that beijing is planning something big possibly promoting the brim in b. as an international currency partially backed by gold well two recurring down sun times report weighed in on the twitter sphere about this jim rickards said that china gets over four thousand tons what you looks like they'll be announcing that shortly they will announce a partially gold back room and b. and also a member jan squirrels said she heard a rumor that chi

stevens warnings about. basically the monkeys jumping cannonballed jumps of policy that's where our monetary policy is now we're cannibal jumping into the pool hoping our splash is bigger than the others but at this point you know the splash or the splashes of quantitative easing appear to be having less and less effect and there's a tiny tiny little blips from. it's just causes a tiny little blip nobody cares about it anymore they just see them as monkeys playing in the pool won't cost you more by definition is basement which is the same

stevens warnings about our. basically the monkeys jumping cannonball jumps of policy that's where our monetary policy is now we're cannibal jumping into the pool hoping our splash is bigger than the others but at this point you know the splash or the splashes of quantitative easing appear to be having less and less effect and nobody's even paying attention there's tiny tiny little blips from trillions poured into the markets it just causes a tiny little blip nobody cares about it anymore they just see them as monkeys playing in the pool won't cost you more by definition is basement which is the same thing as i have for inflation so jim rickards agrees. peter schiff agrees marc clubber agrees jim rogers agrees most of the informed economists around the world a grave that hyper inflation is a mouse in the cards so gold is part of these currency wars and this week max everybody out there in twitter on facebook and the e-mail people have been sending us e-mails saying i think the queen watches the kaiser report beca

now glenn stevens also mentioned at the very top of his speech this notion of an asian bank of international settlements including australia for a stroller to be included in this so he's mentioned this yes and he's saying let's get rid of all these monkeys jumping around in the pools cannibals look fine yeah sometimes we have fun guys report gets to have some chuckles at the monkeys jumping around at the bank of england now i want to call attention to this piece i saw in december fourth time newspaper here in london an american target for golden shopped. and here is the times saying that china in numbers one thousand that is the amount of gold and tonnes that china expects to be consuming every year by twenty fifteen they also know that china shows every sign of being a gold hoarder chattering among gold traders puts chinese total reserves at two thousand tonnes and they expect it's actually three thousand tons and what the times looks at this and says what the plan is for china it is incremental measures such as this combined with the fat in gold reserves that suggest to some that beijing i

now glenn stevens also mentioned at the very top of his speech this notion of an asian bank of international settlements including australia for a stroller to be included in this so he's mentioned this yes and he's saying let's get rid of all these monkeys jumping around in the pools cannibals look fine yeah sometimes we have fun guys report gets to have some chuckles at the monkeys jumping around at the bank of england now i want to call attention to this piece i saw in december fourth time newspaper here in london an american target for golden shopped. and here is the times saying that china in numbers one thousand that is the amount of gold and tonnes that china expects to be consuming every year by twenty fifteen they also note that china shows every sign of being a gold hoarder chattering among gold traders puts chinese total reserves at two thousand tons and they expect it's actually three thousand tons and what the times looks at this and says what the plan is for china it is incremental measures such as this combined with the fat in gold reserves that suggest to some that beijing is

that caused the financial collapse so all of the quantitative easing is going to do nothing and now glenn stevens the head of the central bank of australia has spoken in the past week and he says that the balance sheets of central banks have reached wartime levels and he shows these charts and you can see it's quite dramatic but he says in terms of the policy response there is a discomfort in some quarters that central banks appear to be exercising an unprecedented degree of discretion introducing new policies yielding uncertain benefits and possible costs well what they're talking about i think alluding to here is that the central banks have been expanding their balance sheets to hide the deal leveraging that to happen as a result of the criminality of the big banks who committed terrorism and just b.c. has said yes we are a terrorism. a terrorist organization and the central banks to cover up their terrorist activities have to engage in policies that now are running out of their effectiveness now. did there need to be admission that there will be no growth unless financial terrorists ar

to iceland to look and see what was happening in their economy a quote we read in our film was from glenn stevens who's the governor of the australia's reserve bank he said there is something very strange about three country referring to japan giving out free money this has an effect on global markets it is by no means clear that it is a healthy state of affairs to persist so as we see right now what happened across much of the world was part of that carry trade that collapsed around the world and sent shock waves of debt collapse around the world right the credit froze when it became clear that this was a ponzi scheme of bernie made off like ponzi scheme and that actually did not mix. and the difference between two thousand and eight today and today is that the rich people the sixteen hundred billionaires the six hundred thousand multi hundred millionaires with cash on hand are buying gold and barclays here in the u.k. some of the biggest gold storage vault outside of fort knox and the people buying gold are buying it for one very simple reason they're scared to death and they should be

stevens of the reserve bank of australia who said that there was something very strange about a g three country have giving away free money banking kamikazes. pilots crashing planes into ships japanese bankers crashing the economy the shoals of monetary currency debasement but it'll end up with a lot of dead people because has been pointed out the casualties from this financial war going on around the world are in the millions and the death count is going up every day now and it's interesting when you look at central banking policy when they give away free money it's not terribly it sounds like here's a free gift for you it's actually a very hostile and aggressive act and it causes destruction not only well of the financial system primarily it causes the entire eradication of economies and banking systems around the world it's like nerve gas you know you don't really notice it but then you're paralyzed oh i go up and then you're dead and that's the effect of cheap money from the central bankers i like this quote from the article max a reduction in the value of the yen which is what the

stevens of the reserve bank of australia who said that there was something very strange about a g three country have giving away free money banking kamikazes. pilots crashing planes into ships japanese bankers crashing the economy on the the shoals of monetary currency debasement but it'll end up with a lot of dead people because as been pointed out the casualties from this financial war going on around the world are in the millions and the death count is going up every day now and it's interesting when you look at central banking policy is there when they give away free money it's not terribly it sounds like here's a free gift for you it's actually a very hostile and aggressive act and it causes destruction not only well of the financial system primarily it causes the entire eradication of economies and banking systems around the world it's like nerve gas you know you don't really notice it but then you're paralyzed oh my go up and then you're dead and that's the effect of cheap money from the central bankers i like this quote from the article max a reduction in the value of the yen wh

to iceland to look and see what was happening in their economy a quote we read in our film was from glenn stevens who's the governor of the australia's reserve bank he said there is something very strange about a tease three country referring to japan giving out free money this has an effect on global markets it is by no means clear that it is a healthy state of affairs to persist so as we see right now what happened across much of the world was part of that carry trade that collapsed around the world and sent shock waves of debt collapse around the world right the credit froze one of became clear that this was a ponzi scheme of bernie made off like ponzi scheme and not actually the nomics. the difference between two thousand and eight today and today is that the rich people the sixteen hundred billionaires the six hundred thousand multi hundred millionaires with cash on hand are buying gold and barclays here in the u.k. something of the biggest gold storage vault outside of fort knox and the people buying gold are buying it for one very simple reason they're scared to death and they shou

to iceland to look and see what was happening in their economy a quote we read in our film was from glenn stevens who's the governor of the australia's reserve bank he said there is something very strange about teeth three country referring to japan giving out free money this has an effect on global markets it is by no means clear that it is a healthy state of affairs to persist so as we see right now what happened across much of the world was part of that carry trade that collapsed around the world and sent shock waves of debt collapse around the world right the credit froze life became clear that this was a ponzi scheme of bernie made off like ponzi scheme and not actually the nomics. the difference between two thousand and eight today and today is that the rich people the sixteen hundred billionaires the six hundred thousand multi hundred millionaires with cash on hand are buying gold and barclays here in the u.k. something of the biggest gold storage vault outside of fort knox and the people buying gold are buying it for one very simple reason they're scared to death and they should b

stevens of the reserve bank of australia who said that there was something very strange about a g. three country have giving away free money. because everybody's made the comparison to what we're going through to the great depression and we all know what central bankers believe and that is that world war two got us out of the great depression so it's no coincidence i think that you see the same sort of alignments the same sort of geo political tensions going on yeah we're definitely headed for a war once you have a good for the us because it's not a shooting each other they're going to shoot somebody else part of this banking revolution the central banking revolution as the first headline calls it which i don't think it's central banking revolution i just think it's outright war on an armed people around the world moody's gets no respect as bonds fifty six percent of country ratings so the global bond market max disagreed with moody's investor service and standard and poor more often than not this year when the companies told investors that governments were becoming safer or more r

to iceland to look and see what was happening in their economy a quote we read in our film was from glenn stevens who's the governor of the australia's reserve bank he said there is something very strange about a three country referring to japan giving out free money this has an effect on global markets it is by no means clear that it is a healthy state of affairs to persist so as we see right now what happened across much of the world was part of that carry trade that collapsed around the world and sent shock waves of debt collapse around the world right the credit froze when it became clear that this was a ponzi scheme of bernie made off like ponzi scheme and not actually cannot mix. the difference between two thousand and eight today and today is that the rich people the sixteen hundred billionaires the six hundred thousand multi hundred millionaires with cash on hand are buying gold and barclays here in the u.k. something of the biggest gold storage vault outside of fort knox and the people buying gold are buying it for one very simple reason they're scared to death and they should be

to iceland to look and see what was happening in their economy a quote we read in our film was from glenn stevens who's the governor of the australia's reserve bank he said there is something very strange about a three country referring to japan giving out free money this has an effect on global markets it is by no means clear that it is a healthy state of affairs to persist so as we see right now what happened across much of the world was part of that carry trade that collapsed around the world and sent shock waves of debt collapse around the world right the credit froze when it became clear that this was a ponzi scheme of bernie made off like ponzi scheme and not actually the nomics. and the difference between two thousand and eight today and today is that the rich people the sixteen hundred billionaires the six hundred thousand multi hundred millionaires with cash on hand are buying gold and barclays here in the u.k. it's open at the biggest gold storage vault outside of fort knox and the people buying gold are buying it for one very simple reason they're scared to death and they shoul

stevens of the reserve bank of australia who said that there was something very strange about a g three country have giving away free money banking kamikazes so instead of pilots crashing planes into ships we've got japanese bankers crashing the economy on the the shoals of monetary currency debasement but it'll end up with a lot of dead people because as has been pointed out the casualties from this financial war going on around the world are in the millions and the death count is going up every day now and it's interesting when you look at central banking policy when they give away free money it's not terribly it sounds like here's a free gift for you it's actually a very hostile and aggressive act and it causes destruction not only well of the financial system primarily. it causes the entire eradication of economies and banking systems around the world it's like nerve gas you know you don't really notice it but then you're paralyzed oh my god and then you're dead and that's the effect of cheap money from the central bankers i like this quote from the article max a reduction in the va

stevens who is the governor of the australia's reserve bank he said there is something very strange about teeth three country referring to japan giving out free money this has an effect on global markets it is by no means clear that it is a healthy state of affairs to persist so as we see right now what happened across much of the world was part of that carry trade that collapsed around the world and sent shock waves of debt collapse around the world right the credit froze when it became clear that this was a ponzi scheme of bernie made off like ponzi scheme and not actually the nomics. the difference between two thousand and eight today and today is that the rich people the sixteen hundred billionaires the six hundred thousand multi hundred millionaires with cash on hand are buying gold and barclays here in the u.k. some of the biggest gold storage vault outside of fort knox and the people buying gold are buying it for one very simple reason they're scared to death and they should be because they're about to watch the biggest global catastrophe in history they're buying gold out of

stevens of the reserve bank of australia who said that there was something very strange about a g three country have. giving away free money banking kamikazes. pilots crashing planes into ships japanese bankers crashing the economy on the the shoals of monetary currency debasement but it'll end up with a lot of dead people because as has been pointed out the casualties from this financial war going on around the world are in the millions and the death count is going up every day now and it's interesting when you look at central banking policy is that when they give away free money it's not terribly it sounds like here's a free gift for you it's actually a very hostile and aggressive act and it causes destruction not only well of the financial system primarily it causes the entire eradication of economies and banking systems around the world it's like nerve gas you know you don't really notice it but then you're paralyzed oh my god and then you're dead and that's the effect of cheap money from the central bankers i like this quote from the article max a reduction in the value of the yen

stevens of the reserve bank of australia who said that there was something very strange about a g three country have giving away free money banking kamikazes so instead of pilots crashing planes into ships we've got japanese bankers crashing the economy on the the shoals of monetary currency debasement but it'll end up with a lot of dead people because as has been pointed out the casualties from this financial war going on around the world are in the millions and the death count is going up every day now and it's interesting when you look at central banking policy when they give away free money it's not terribly it sounds like here's a free gift for you it's actually a very high cost. islet aggressive act and it causes destruction not only well of the financial system primarily it causes the entire eradication of economies and banking systems around the world it's like nerve gas you know you don't really notice it but then you're paralyzed oh my god and then you're dead and that's the effect of cheap money from the central bankers i like this quote from the article max a reduction in th

stevens of the reserve bank of australia who said that there was something very strange about a g three country have giving away free money banking kamikazes. pilots crashing planes into ships japanese bankers crashing the economy on the the shoals of monetary currency debasement but it'll end up with a lot of dead people because as has been pointed out the casualties from this financial war going on around the world are in the millions and the desk count is going up every day now and it's interesting when you look at central banking policy there when they give away free money it's not terribly it sounds like here's a free gift for you it's actually a very hostile and aggressive act and it causes destruction not only well of the financial system primarily it causes the entire eradication of economies and banking systems around the world it's like nerve gas you know you don't really notice it but then you're paralyzed oh my go up and then you're dead and that's the effect of cheap money from the central bankers i like this quote from the article max a reduction in the value of the yen wh

and glenn stevens will give a key speech to the bank of thailand in bangkok. >> we're going to take a quick break. head over to cnbc.com for stories that are currently trending. first, billions of dollars stashed overseas, find out who they are. and concern over departure of prime minister mario monti. and the fiscal cliff is still getting you cooking? head to cnbc.com for the latest. we'll also have a sneak peek of what the "squawk box" team has prepared. >>> still to come on the show, after some high profile dubs like facebook, the ipo market was new this year. but a new report says things will change in 2013. find out why. >>> eurozone finance ministers will discuss greece's buyback. last friday, the deadline was extended to this afternoon after they failed to reach a 40 billion euro target. the two-day summit in brussels on thursday is expected to produce a political agreement. while the details of the plan will be finalized at a later stage. >>> ipo activity is expected to pick up in 2013 after a slowdown in year. that's according to ernst & young's latest report. the amount of c

, sean smith, glenn dougherty and tyrone woods, these truly heroic americanamerican s who lost their lives in benghazi to a terrorist attack. their dedicated servers will always be remembered by the american people. as we get into the accountability review board evaluation that the pickering report, there is an indication they -- directly the quote was in the months and weeks leading up to the attack the response to deteriorating security situation was inadequate. from each of you, what was the response and what steps have been taken, and indeed could this tragedy have been averted? >> well, congressman, clearly as the arb report concluded there were inadequacies. there was not an active enough response to requests that were made from post. just to be clear, think typically those kinds of requests, and it was true in this case, tended to come up to the assistant secretary level in those bureaus and the arb was very clear in emphasizes and the importance of us reinforcing shared responsibility in those areas. there was, and they draw a distinction between that and the more general is

embassy security personnel glenn doherty and tyrone woods. many questions have been raised about this tragedy about this whether we had sufficient intelligence ahead of time and. ambassador stephens became a good friend to this committee. while he was detailed to my staff in 2006 and 2007. his advice to me on the complexities of events in the region was invaluable. after he went back to state, he continued to brief staff from time to time, and he returned to meet with me after his remarkable tour as a united states representative to the rebels in benghazi. all of us have read accounts of chris stevens' extraordinary service. he was personally instrumental in advancing u.s. interests in libya. chris was providing the aind of energetic leadership we need for our embassy teams. he went beyond the walls to meet and converse with soldiers, shopkeepers and villagers as well as ministers and generals and bureaucrats. like united states embassy personnel around the world, and his team recognized that effective diplomacy in this era carries substantia

. >> steven moore before we open it up to question. glenn mentioned corporate tax reform earlier. warren buffett says that tax rates don't matter of as much as a lot of people pretend, when it comes to companies that and investments and innovation. i suspect you disagree with him. >> it seems at odds with the buffett rule, which suggests that taxes are important. >> for government to have revenue? >> business people oftentimes say that it does not matter. then you get one level of analysis beneath that and they wake up, which is that you are given a spread sheet. if you're on a board, you are given a result. in the calculation that creates that result, there's a whole lot of things like taxes and other costs. if you run sensitivities on analyses based on different formulas you get different outcomes. it's not that it's not important, but you are looking at a broader conclusions rather than getting into the actual details. >> to encourage innovation, what would you do? >> taxes are imbedded in the analysis and people just don't recognize it. second, we have a corporate tax code. on

embassy security personnel glenn doherty and tyrone woods. many questions have been raised about this tragedy about this whether we had sufficient intelligence ahead of time and. ambassador stephens became a good friend to this committee. while he was detailed to my staff in 2006 and 2007. his advice to me on the complexities of events in the region was invaluable. after he went back to state, he continued to brief staff from time to time, and he returned to meet with me after his remarkable tour as a united states representative to the rebels in benghazi. all of us have read accounts of chris stevens' extraordinary service. he was personally instrumental in advancing u.s. interests in libya. chris was providing the aind of energetic leadership we need for our embassy teams. he went beyond the walls to meet and converse with soldiers, shopkeepers and villagers as well as ministers and generals and bureaucrats. like united states embassy personnel around the world, and his team recognized that effective diplomacy in this era carries substantia