In the five years since the US economy crashed, there have been few corporate convictions, despite public desire for Wall Street to be held accountable. A former Goldman Sachs director is about to be sentenced for insider trading - but as Cath Turner reports, Rajat Gupta's trial is rare.
Matt Miller reports on the Bitcoin phenomena reaching Argentina on today's "Global Outlook" on Bloomberg Television's "Street Smart."
Bitcoin is a decentralized digital currency that enables low-cost payments without the need for central authorities and issuers. Bitcoin is a peer-to-peer (P2P) currency system created in open source C++ programming code.
Although this video is almost a year old, its core argument of letting the free market set interest rates and limit government vs. the 'effective' government regulation of the financial system is discussed.
The role of the Federal Reserve is discussed in detail.
Peter Schiff and Kudlow duke it out in this interview of two minds that couldn't be farther apart. Schiff believes gold's recent decline is a buying opportunity, similar to 1976 and 2008. Goldman, the guest aruging with Schiff, believes energy independence will allow the US to continue borrowing at low interest rates while keeping the dollar strong.
Rodney Shakespeare, Professor of Binary Economics believes that the European public must rise up against political and financial elites.
The International Labor Organization says the average employment rate in the bloc was nearly 58 percent in 2012. The report adds one million jobs have been lost just in the past six months. Shakespeare is calling for a violent revolution.
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the Old Lady's gold habit, the gold that may be leaving Cyprus' central bank (or not) and Confucius' famous saying: "IMF STUPID SELL TO GOLD, I'M BUYING." They also look at the Federal Reserve data accidentally sent to Wall Street bank lobbyists and the venture capitalists entering the new Land Grab.
Faber explains that as the Fed continues to print record amounts of money it does not flow evenly through the system. It creates bubbles throughout the economy and usually only benefits the rich. Marc is concerned about a systemic crisis approaching.