Freedom fest is now in session for the trial of the most important subject of our lives, money, and thousand Federal Reserve implements our lives every day. Judge kennedy is presiding at this hearing. All rise. [applause] lets hear it. Hello, everyone. How are you, ladies and gentlemen, members of the jury, we are gathered here in the state of nevada to decide central beng bank federal preserve to provide a healthy economy and Banking System, stable prizes and a lender of last resort or is it responsible for a series of banking crises and lost of purchasing power of the very engine of enflaicion. Inflation. Is this economy more stable or disstable . Did the fed keep it from getting worse. They must decide this are we better off without the fed and if so what shall we replace it with. Shall we go back to the classical Gold Standard. You love gold . Can i hear a little bit of applause for Gold Standard. Representing the reserve, professor, lets hear it. Big fan, big fan. [applause] thats
zone. i put the danger zone at 450 every week, you are around to 400,000 tpalg. that s a sign the trend is in place. tomorrow you ve got the big picture labor market report coming out. this looks like it s going to be another positive report on that the economy, jobs and hiring. bill: but as far as today goes, it is better news but not it s great it s not great news. it s not a blowout number like yesterday was private sector employment was but remember that long term downtrend in new claims is in place, long term trend, in place, down. bill: let s talk about economic policy out of washington. what is the news about a departure from the economic team of president? as of today one of the big 3-rbg paul volcker, is leaving, that means the original economic team assembled by president obama two years ago, they ve all now gone, cristina romer, larry summers and now paul
that is jobs in america. moments ago a new report showing a slight jump in the number of people apply fog unemployment unemployment benefits, the first five weeks, the jobless claims rose to 409. that s where we start today. how you doing, i m bill hemmer. martha: thank you very much, good morning, everybody. it s interesting because today s numbers we re getting in, those come on the heels of the private sector jobs number we saw yesterday and what was fantastic, it blew away expectations, it was triple, 300,000 jobs added in the private sector, three times larger than economists predicted. bill: let s put it with stuart varney, varney & company. good morning, stuart, what does it mean? you ve got to remember the long term downtrend in the jobless claims is very much in place and the number of those new claims is still now way below the danger zone. i put the danger zone at 450 every week, you are around to 400,000 tpalg. that s a sign the trend is in place. tomorrow you
general, a commandant in the marine corps, he also has been the commander of u.s. and nato forces in europe, he will be replaced by career political adviser and lawyer tom donlan who worked for the state department during the clinton and in this administration he s been the deputy national security adviser, now he ll step into the top job. donlon is close with the biddence, he was senior adviser to joe biden when running for president in 2008, his brother is a legal counselor to the vp and donlon s vive is wife is chief of staff to dr. jill biden. this is the second high-profile departure in as many weeks from the obama administration. last week chief of staff rahm emanuel left to run for mayor of chicago. jon: lots of changes at the white house. molly henneberg, thanks. jenna: another fox news alert, down to richmond, virginia, where there is a major tea party convention taking place. today might be one of the biggest ones we ve seen in the country so far. several thousand
and obviously, taking complete control of the democratic national party would be part of that. well, rahm is one of the only ones to follow, economic team, cristina romer, part of the economic team, falling apart. orszag. and some say it s collapsing. would it be smart though hypothetically send out a tweet saying he s happy with his job. if he were to go to head up the dnc it s an extension of the white house, gives them an arm, a power arm here separate from the white house to run the dnc a smart move? well, yes, i m just in the sure that gibbs is necessarily the right person. there are specific skill sets that robert gibbs has, he s a strong and smart political analyst, a good spokesman for the president, that s part of the job as a dnc chair. other parts of the job involve going out to donors and democratic donors around the country, and trying, trying to