as you know standardization so if they're all using their supper models then you have arbitrage or zilla come in and play one bank off the other and they'll just wreak havoc in these markets and drain it from capital again that's also deflationary so financialization this is an interesting headline from the past week from this talk dot com and he posit something that you and i have suggested over the course of the past few years on kai's report and that is that all of these trade imbalances and all this financialization were as a result of going off the gold standard and here he provides some charts and data that shows that because a lot of people right now are think well maybe the tariffs will win and will like trade will be restored and manufacturing will be restored. to america and some people blame that nafta is what caused a huge trade deficit but unwinnable trade war gold explains why explaining the u.s. trade deficit this is from mr talk if it's not nafta and not china what is it because nafta is 1904 china joined in 2001 he says china did not cause a soaring us trade deficit but

because the idea of trump the invincible, the trump zilla, tre trump-rex is not true. he is terrified of joe biden. he saw the same data that showed joe biden would beat him like a drum, and they don't want to have to run against him. they want to dirty him up, and i think it's important for joe biden to point that out. at the root of it, that's what this is about. when you talk to republicans, the one democrat they say -- even trump supporters -- they would consider joe biden. they're trying to take him out. >> there's, what, two weeks before the cnn debate on this. i wonder how that will factor in when the democrats are on the stage with each other. >> well, i mean what's been interesting is that there has been a closing of the ranks. nobody is saying, oh, well, maybe we should be talking about hunter biden. i think all democrats understand that not only is this unjust and illegitimate behavior on the part of the president. the reason is because of the fear of joe biden. >> so, gloria, the white house response insofar as there is a coordinated response, how would you