Transcripts For CNBC Squawk Box 20160613 : vimarsana.com

CNBC Squawk Box June 13, 2016

Was hit pretty hard. This was something that happened, you saw the yen was going to its highest level as the riskier assets took on hammering ahead of the key central bank. It is not just the u. S. Central bank meeting this week but the bank of japan, the bank of england and the Swiss National bank. Take a look at shanghai composite down by 3 . The hang seng down by 2. 5 . In germany this morning, the dax is down by 1 with similar declines at the cac and france. And well look at crude oil, this mornings crude oil down by 1 to 48. 57. Ice, brent crude, down by 50 cents to 50. 14. Back to the top story, terror in orlando. 50 people are dead and 53 injured in the worst shooting in u. S. History. Authorities in orlando have identified 21 victims so far. The gunman is 29yearold omar mate mateen, a u. S. Citizen. Well go to eamon javers with more on this investigation going on. Reporter good morning. An absolutely devastating tragedy here in orlando, florida, yesterday. We are here at the orlando Regional Medical center, a level one trauma medical facility a couple blocks down from the pulse nightclub in this direction. This facility was well positioned to handle all the gunshot wounds they saw coming in yesterday. A lot of the families here have had a very tough night overnight as they wait for the results of some of these injuries and some of the surgeries going on in the building behind us. And what we know of the timeline yesterday is still sketchy. Well be getting more details from the investigators today and throughout the afternoon today. But heres the timeline as we know so far. At about 2 00 a. M. Saturday night into sunday morning the killer, omar mateen, entered the pulse gay nightclub here in orlando. By 2 10, the managers of the pulse nightclub managed to post to their Facebook Page telling people to run from the facility, simply to escape with their lives. And by 5 00 a. M. , mateen had holed up the club with a number of survivors who were all hidden in various places inside the club. Effectively, those people became hostages. The police decided they simply had to go in to end the situation, to stop the killing. They stormed the building. They killed mateen on the site there. So the casualties as we know right now, 50 dead. 53 wounded. The bodies were being removed overnight with families notified. They have released the names of 21 victims so far. But more tragic news on that front still to come throughout the day today. Back in washington, president obama once again addressing the nation in the wake of a mass shooting. Heres what he said. This could have been any one of our communities. So i told mayor dyer that whatever help he and the people of orlando need, they are going to get it. As a country, we will be there for the people of orlando today, tomorrow and for all the days to come. Reporter and guys, i want to share with you a picture that i took yesterday. This was a picture shot at the hampton inn near the medical center. That was the rallying point for so many families awaiting the fate of their loved ones. I was there as a lot of the families were getting the news that the people they loved and cared about were killed. And i have to tell you, it was just a devastating emotional scene as the families were getting this news. People in tears, shouting, crying, falling to the ground. And there were so many people there who were trying to help, the local church group, i spoke to some of the members there, they had showed up and were offering water. The First Responders were there, police and fire were there, there were members of the clergy from all different faiths there. Everyone trying to help these families. There were hundreds of people in tears in that building yesterday. And there was just nothing that you could do or say to ease the pain. Nothing you could do to make this not have happened. It did happen and it was devastating. And the emotional wreckage we saw yesterday is going to continue throughout the day and the weeks to come, guys. Back over to you. All right, eamon. Thank you for that report. Well look at how the investigation will proceed. We have jim kavinar, a special agent for abc news Law Enforcement. Anyone waking up today is probably overwhelmed with just the notion that a lone wolf and a soft target exists almost everywhere you turn, anywhere i look around here i see similar places. And its daunting and overwhelming, the idea that were going to have some way of stopping this. And its very depressing. Yeah, it is very depressing. The crime yesterday was so vulgar. Its hard to come to grips with it for all of us, even Law Enforcement officers were shaken by what they saw down there. A madman just goes in there and just massacres and massacres people for nothing but hate and terror. No real reasons anybody can wrap their head around. So yes, i agree, its real channeling as americans, but we can deal with it and do better on many fronts. But were not going to be able to totally eliminate the virus that al qaeda has spread throughout the world. It started with bin laden who spread the virus into fighting in isis, al qaeda into iraq and isis or daesh. We have to get the political leaders to do something about it but well be living with it. Intelligence knew about this guy. Still managed to get two gun licenses. And he worked for some time of a Security Firm, right . Im reading that even the dhs that contracted this Security Firm for certain outsourcing, certain roles that it has. So the guy had more than a gun license, he had a security guy license. Thats right. So he had been interviewed by the fbi, though, so who is not how come the information is not being exchanged among different agencies that this guy was someone to keep your eye on . Well, its exchanged but what happens is you get into this spot, you know, i had agents on half a dozen joint Terrorism Task forces. And a lot of names come up. You wouldnt believe the number of the names that come to the task forces. And what happens is you have to look into them. Heres a guy with no criminal record. So what happens is you wind up getting background on employment, maybe talking to associates. Hes reported at saying violent things, for example. Then agents interview him. But agents arent the amazing randy. You cant always predict the future. You just have to get some of the facts from him, see what is going on. He hasnt committed a crime. You cant arrest him, you dont want to arrest him. So the file is closed. Thats what happened the first time. The second time when you go to buy a gun, is that is that license, is that process connected at all . Is there any watch list or forget about a watch list, does that information hes trying to buy the gun or has bought the gun get put back into some list that says we looked at this guy before, is there any connection or were not there yet . No, andrew, youre just two steps ahead of my discussion. Youre exactly right. What i was going to say is the second time he came to the attention of the fbi, testifihe associate with a loosely known american with ties to syria. And then what happened a week ago, this is an important fact that youre getting to, the time of him getting the weapons is a week ago. And when that happened, he had to get a background check by the Florida Department of Law Enforcement to see if he had a criminal background. But Law Enforcement comes in to his name and we should be having the ability to, we could, i mean, this is information in the hands of all Law Enforcement, the fbi, joint Terrorism Task force, that name should hit from the background check and say, oh, by the way, a guy you were interested in a year or two ago is now buying an Assault Rifle and a pistol at the local gun store. Now, you cant arrest him for that, andrew, but youre hitting on the point where we should be saying, hey, why is this guy buying a gun . And all this ammunition and all this ammunition. So now, usual on the task forces, those things will go right to the fbi agents that are on the task force. The police, local police in that area where the guy lives, and well go out there and talk to him, look at him, what is he doing . And in this case, you know, in i believe he was in a repprental there are some mos that you see. Over in belgium they tried that, they didnt have the money and got 300 people they are trying the watch, they need 24hour surveillance. They dont have eight guys per person to watch. And same with us here, we dont have Infinite Resources and cant follow everyone 24 hours. So they quit following him a year ago or whatever. Once you find out hes done this, start following him again. This is a highpriority guy that you go back to him. You dont need to follow him every day for the last three years. But once he bias an Assault Rifle, you figure to go back to this guy. Jim, where are the holes in doing what joe is saying . Well, becky, i think we have to learn from each event. Like when i was in the government, we hot washed every case. Every case we had, a d. C. Sniper or bombing, we would go back and hotwash him. What did we do right and what did we do wrong . Well make new mistakes because we are human, but lets fix it. Heres a glaring example, lets make sure that anybody that came to the interest of the joint Terrorism Task force for whatever reason, even if the fire is closed, if they buy a firearm and lots of ammunition to kill 50 people, shouldnt we know that . I guess my question is, how quickly could that be corrected . Or the databases there . Do we have this information or have a way of sinking it up nationally . Or is this a problem as every state does it a little different . No, florida does it through the department of Law Enforcement or it goes to the fbi, national up substantiate criminal check system in west virginia. So we have the data. The person comes to find the gun, he presents this and it goes to the department of Law Enforcement. We need to have the joint Terrorism Task force flag that and the lawmakers allow us to make all that stuff okay. So yeah, we are just telling you we interviewed this guy twice. You need to know that fdla. We are not going to arrest the guy. We just want to know, tell us that hes buying a gun today. And now we can take a week to dill 50 american citizens. Yes, we can tighten that up through the process. You mentioned lawmakers need to do something. Theres a law that needs to be passed to allow that transfer of information at this point . Well, no, i dont think a law needs to be passed but you get a lot of pushback whenever you do anything with ground background checks or from the congress to push it back, youre doing too much. Violating the secondamendment rights, its a general play to flag any kind of thing. Because we have terrorists on the terrorism watch list who cannot fly an airplane because they are considered too dangero dangerous. We allow them to purchase guns because they are not legally barred from buying the gun under law. So they cant get on a plane because they are too dangerous but they can legal ly take them. When you try to buy a gun in this country, some places take a day and other places a year. Well, they are trying to be a national day on guns before the nic system was pushed by the nra and gun lobby because they didnt want a delay in purchase to the gun. A cooling off period, a waiting out period, nationally it was down to three or four days. Some states have it and theres no way for the imperial system. The check goes in, and unless if youre cleared, you get to go instantly. If you are not cleared, in three days the laws are strong. We have to work within the framework just to find the ri t right the intention of people that want to do us harm, they are talking about chemical weapons, buy logical weapons, theres nail bombs, you can drive a car into a crowd. The containment of isis is not a viable option to stop things and that you got to cut it out right at the source. I wonder, does that cause more extremist fervor . I have no idea what the proper course to take is. Thats why im saying it is just so depressing to figure out what our options are. And you hear how many of these guys are supposedly hear right now . Coomey said they are following people in every state, every state of the union they can sympathize with, right . Right. We are not getting paid or attacked by isis soldiers coming from syria and iraq to america. I mean, this guy was post humously. In europe they are citizens of their country, but they can go and get training and come back as a citizen of the country. That doesnt help or make me feel any better. Reporter right. This guy was born in america. We looked at people making this attack before, they are mostly american citizens. I would say they are isisinspired at least. That is clearly the case. But what i am saying is an immigration stop is not going to keep it from happening. We dont want ifighters coming in. We have to understand this, it is fighting the enemy in the theater, ramping up even the way were doing it now, ramping up all that stuff. Jim, i think we all agree, well, not everyone at the table agrees, but we have to do all of this. Im just curious since we have touched own guns but not really, and i know this is a delicate issue, especially in washington these days, but the idea of automatic rifles or a semiautomatic gun, if you will, whether you think they are ultimately necessary. Is there a reason for people to be able to buy the guns . And do they protect people . Part of the argument people make over time is that people need to own guns to protect each other. It doesnt seem to be working if that is the case. Right. Well, you get down to the Second Amendment argument on both sides and it gets very heated in the court ruling on Citizens Rights to guns. But the assaults weapon in the 90s, it said all the guns out there were legally possessed and we continue to be so. But new guns manufactured in this configuration, would not be allowed to be bought except by the police. Theres a lot of flaws in that law because most of the changes were cosmetic, but the one thing that made a difference was the magazines complexity. So commercially you could only buy a magazine with ten rounds. So we saw during the ten years of the assault weapons ban, that is starting to have an effect as the years went by. Because all magazines werent confiscated or anything, but it was just that guns couldnt be sold anymore by dealers with 30 rounds, 60 rounds, 100round drums over the counter no problem. But you could only buy and theround magazine. So this guy a handgun, the magazine, isnt that caused by an assault weapon, too . I think people are they look at the long guns and believe it is a military they can flank automatic and semiautomatic and say that they are military weapons, but it is no different than the glock that an officer carri carries. Youre right. Its a long gun . No. The long gun has a much higher velocity. So the killing power of that is so much more than a handgun. Maybe to a lot of people the handgun that the assailant used in the movie theater, but it is just they are much more deadly. When police go up against a person with a militarmilitarys rifle, hes already losing in the gunfight. There are issues there. But its a semiautomatic rifle no matter how you change the cosmetics of it. But the magazine compares the that is something that had some effect. You can get there is no maximum. They can be that long . You can have a gun with a belt fit with a 100round drum and tape two 30s upside down. Get whatever you want. Modify it, yeah. You can strap them all over you, but with the tenround, there was dexterity to change it. You can do it in a second or two, but this guy would have to be changing managazines instead. Instead of the ultimate change, the issues are dead politically. It is one fight but we also have to fight isis in the theater and ramp up the special ops. We have done better and the president has done better on the internet fight. But hes still got to do better. When we return, the price of crude is slipping once against. Well open up the market discussion next. Plus, much more on the orlando shooting including the reaction from the campaign trail. Squawk box will be back in just a moment. For decades, investors have used a 60 40 stock and bond model, with little in alternatives. Yet alternatives can tap opportunities that traditional assets cant. And even though theyre called alternatives, theyre actually designed to help meet very traditional goals. Thats why invesco believes people should look past conventional models and make alternatives a core part of their portfolios. Translation . Goodbye 60 40, hello 50 30 20. Experience the thrill of the lexus gs f sport. Because the ultimate expression of power, is control. This is the pursuit of perfection. Welcome back. Well check on the markets again this morning. We have seen red arrows with the futures here down by close to 50 points. The dow futures down 46 points right now. The s p futures off eight. Nasdaq down 15. In europe additional losses. The dax is down by 1 1 3 percent. The oil prices have also been giving back this morning, too. You can see that wti right now down by over 1 to 48. 51. Joining us right now is john killduff, partner at again capital. Peter, lets start off talking about the markets in japan. We saw bigger losses with the nikkei down 3. 5 . Concerns that a brexit vote to exit is looking more and more likely according to some of the polls that are taking place there. What do you do as an investor . Well, it is such a binary event. And people are worried if they leave it will create a chaos. But there is also a dramatic change in the yen. But it is more of the what if the uk leaves and what kind of disruptions that creates. But im more worried about what it creates for the eurozone as opposed to the uk because you encourage other countries to possibly want to leave. And you threaten the whole existence of the eu if the uk decides to leave. We have had a former German Defense minister who said, look, even if they vote to stay, its bad news for the euro because if they stay, the idea will be that anybody can renegotiate some of the terms of staying, too. Yes, but i can look at it the other way to say brussels needs to change their ways. And theres pushback against the establishment just as there is here and the establishment has to change their ways into the upbringing here, essentially. What do you think about the Feder

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