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Well okay but first spoiler alert for the swimming in the race 200 meter individual medley cover -- -- you -- -- to know.
Michael Phelps wins it again for his twentieth metal -- sixteenth gold he came in first.
Bryan -- USA came in second he's got the silver so that's pretty exciting that just happened within the last couple of minutes alright.
From swimming -- wrestling -- Wall Street hasn't exactly been having a lot of fun lately what with the -- trading situation.
The global trauma that we bought all been seeing especially with the headlines out of Greece and out of Europe but.
Former Princeton University wrestler and ahead of Fortress Investment Group -- no progress is having an.
Absolute -- here in London the billionaire is here in London serving as team leader for USA wrestling that.
He is a tireless and generous supporter of wrestling as a sport in the United States.
But when we caught up with him at his office is a Fortress Investment Group concept they'll wrote today not only did we talk to him about the excitement for him around wrestling.
But also about what he's investing in right now.
But the kind of fun playing a lot of it was hearing -- -- -- in the opening ceremony -- -- now.
-- that are being happily let you know the next best thing I think -- cheerleader and that's just been great energy to hold only been here.
The brits -- taking great care less they were cheering USA the -- -- into the fray and -- nothing again.
It's great times for the olympians it's great times right now but globally it's a tough time yet.
You're here and you've been with this team and I'm talking since the beginning because what you have started -- the beat the -- program.
Talk about that.
And I -- His eight years ago.
Had to reconnect with wrestling and decided.
It integrates board to teach kids discipline and structure and and -- and what better city in the world started in New York.
And so we started with the school an -- -- -- -- hundred schools were put in wrestling mats and trained coaches and about 3000 kids wrestling there there really is through support to teach -- -- lessons and it's starting to show results.
Through that I got involved with that of the great wrestlers in the country and then daily program and you know they did nothing but help whenever I -- you know we Johnson and -- six time world champions and olympians are.
Was from garnering the legends -- -- many are thinking clinics themselves.
You know getting in touch for them they got me involved with -- you know they Olympic Games and great.
Aren't you busy I -- running Fortress Investment Group publicly traded company plus.
Were in the middle of what the tail wind of a financial crisis or you tell me how you see.
You know we are in the middle of the financial crisis since we're a long way through -- I think but by no means close to the end and I think we're probably on the fifty yard line.
Young missing and so.
I don't getting -- as much time.
Beat the street's.
That I like.
But I think strategically show up my raise funds and I -- I try to inject energy goes in the fiscal and here and argue for and available for.
And the rest of the time my -- scratching my head thinking about our.
Globally any -- How are we going to get out of this Mike -- it seems that we're all intertwined so just just the US starts to find a slight get a firmer footing.
A headline comes out of Greece that shakes us up again.
I think so -- Is that it's gonna take a long time the new normal people like to say is going to be you know one and a half percent growth in the US.
It cannot have an increase of lifestyle as they militants bureau -- -- your job is not to look at the dark part of the club with a silver lining in trying to find ways to make coin -- but this makes some money.
Having run Goldman Sachs Latin America and then the commodities and credits in and risk.
As far as currencies are concerned out of Asia in Goldman Sachs now at fortress what are the trades that you look at and say that might be yet.
Listen you know from speculators -- -- there are lots of trades.
There's a tremendous -- of anxiety in the world right now people are probably as under risk that they've been a long long time and so it doesn't take a lot.
The -- hope to spur a rally here is tricky because in the the solution of medicine.
For the European problem right now.
I'm a lot of ways -- lower rates and increasingly expanding their balance sheet which fundamentally should be bad for the hero.
On the flip side.
You'd be taken a lot of the terrorists that you're gonna blow up away which will be good for the -- -- of the euros kind of going to be announced.
A Tug of war my instinct is the Euro will go up first doesn't back down which -- short of dollars then.
No I think interestingly enough.
You might -- trade you might get out of here -- shortening get along some euros for a trade but when I look at the world and.
And competitive advantage in the US as right now and instability around the world it feels like the dollar's -- be the safe haven currency and so I think structurally -- dollar.
Tough tough cold 1604.
So an ounce you would've thought that -- -- this fear it would be at 17100 now.
Gold is tricky and everything strictly -- business but gold is tricky and that.
As we monetize.
-- -- which we will the only way out of this debt trap for the US for Europe.
Is to inflate your way out there is no other way.
And so we will try at least to -- -- so that would -- making one available.
On the flip side we're dealing with one of the great deleveraging.
You know -- finance.
Deflationary impulse to make sure -- -- -- -- so it's caught again in one of those total wars where.
Arguments on both sides and neither compelling we haven't seen enough deflation and -- collapse we haven't seen inflation make it run.
You kind of stuck in between.
You're the son of a US army colonel lots of Brothers and sisters who were telling me your dad made 34000 dollars -- -- and you never really felt it.
People feel it now why the difference.
To your question I think a couple things well 34000 dollars in 1975.
As a lot different -- this today but even so.
We didn't have the same media.
Exposure we didn't see into the bedroom Paris Hilton everyday when you were a kid and -- your world was much smaller.
We live in wonderful community it was a very middle class suburban community and you will revolve around the high school.
And so and a lot of later on an island and we felt pretty good about.
And I think part of the interconnected -- the world today not just within the US but globally creates a lot of anxiety.
You know people judged themselves relatively.
They what what other people happen.
We see the anger toward the so called 1%.
Yet know -- and it's it's real you feel it.
Here at the Olympics and I think.
We're talking about the empty seat scandal really -- a -- when he has you have all that.
-- -- -- -- people dying for tickets and you have somehow in the corporate seats sitting empty and it can make you angry and it is emblematic of they arrogance at times that -- one person -- -- and I think it's important given the structural shift the world that people that are lucky enough to be in that.
That position and not exacerbated and in this this is a classic case of -- something went wrong but it's making people feel.