and the importance of that to be queen as a unit of account i think it's quite interesting that brad sherman this week. actually said. the u.s. dollar is a unit of account and it's i mean if you know how we ended up with the fiesta. some riding on top of gold you know that credit system and all that stuff was built as a 2nd layer essentially on gold and yes that 2nd layer system whereby you know gold distortive fort knox and the bank of england. that the nodes those are the nodes in the gold system that allowed this global trade to emerge but it was always subject to cheating because it's a centralized ledger so now we have a decentralized ledger lightning and now big point because of lightning and that's the stuff that will follow it does allow the going to threaten the whois dollar as a unit of account i say you know because it is a millennial 6 retirement account right like a lot of my friends it's like no they don't necessarily have the traditional means they don't trust your initial financial system and there's a good reason for that and it's not just generational but you know a lot of

matters what matters is settlement of the trade where the settlement of the trade happens and as brad sherman a congressman from los angeles points out is that the all trade settles to the new york fed and that is important it doesn't matter what currency it is the fact that it settles for new york fed is where our control comes from so the china has a long way to go to have a trusted settlement system and perhaps gold will provide more trusted right now as i mentioned in an earlier show you know we've seen this before in the eighty's with the rise of japan and the u.s. had a response there. rejiggered the global currency markets at the plaza accord this was riggin robert rubin the same people that gave us the plunge protection team after the crash of 1970 so china doesn't seem to be wanting to play that game though so they're going to have to come up with some other strategy and at the moment none appear on the fora isn't something is got to give either the u.s. accept 2nd class citizens in the global economy or they make some kind of dramatic move the u.s. could seize all the gold that they

matters what matters is settlement of the trade where the settlement to the trade happens and as brad sherman a congressman from los angeles points out is that the all trade settles to the new york fed and that is important it doesn't matter what currency it is. that it settles for new york fed is where our control comes from so that china has a long way to go to have a trusted settlement system and perhaps gold will provide more trusted right now as i mentioned in an earlier show you know we've seen this before in the eighty's with the rise of japan and the us had a response they rejiggered the global currency markets at the plaza accord this was reagan in robert rubin the same people that gave us the plunge protection team after the crash of 1907 so china doesn't seem to be wanting to play that game though so they're going to have to come up with some other strategy and at the moment none appear on the floor rise and something is got to give either the us accept 2nd class citizens in the global economy or they make some kind of dramatic move the us could seize all the gold that they are hol

brad sherman experienced this yesterday on msnbc. >> i been trying to talk about the saudi nuclear programnd we would talk about efforts to control drug prices. there is an image in the public that the congress is only focussed on impeachment. that's not what i am working on. >> laura: do you think more democrats will push back on this? the polls, president trump's polls are going up. i get the sense to the fact that democrats are not interested in debate. they are interested in demonizing. that's what they do. >> we have a referendum on the news media and they lost.do that's the number 1 thing in the last 2 years. really 3 years counting the campaign. trump is still president and improving his polls numbers. the country is closer to trump than radical democrats. i predict you will see a republican senate passing legislation and nancy pelosi is over here with a party who wants to spend every day attacking donald trump and wants to pass something. i would not be surpriseed w to e kevin mccarthy form an alliance with 40 democrats if they stay negative. e>> laura: look at all of the democrats