we're going to go to a quick break but when we come back we'll have much more with you that's james grant founder and editor of grant's interest rate observer and still ahead from the gold standard to the ph d.'s standard is there any going back we'll have more with james brandon first your closing market numbers. well. it's technology innovations all the latest developments from around russia we've. covered. spring over seas my great story birds will come home to roost. when their mouses hungry. empathy gives way to the oceans. towards those who live on the current. welcome back we've been talking with jim grant about the fed's manipulation of the future so let's talk about what the excuse me of the present so let's talk about what this means for the future because another speaker at his recent conference was the deflation wary hugh hendry and he laid out a case that what will likely preceded the event you while ity of inflation is actually the polar opposite a severe deep lation and the collapse of mercantilism asia style now this is been one of the more popular debates raging in the financial