Growth but we are opposed to Gold Standard of course by many decades now and so the need to create layers and layers and layers of bureaucracy and tariffs now new tariffs is what happens when you take away the Gold Standard eventually we will go back to the Gold Standard as weve been saying that will come back as soon as this thing collapses which is now a dead certainty well speaking of dead certainties of course the air bus doesnt drop out of the sky as frequently as the boeing airplane so now unless we want to pay the 10 or 20 up to between 10 and 25 percent of the various tariffs being applied but i believe its 10 percent on air bus products so there is that but also you know its interesting that you mention the printing of money and. Like why is the fact that say for example the e. C. B. Has printed more money than the Federal Reserve bank why is not that considered a subsidy as well like oh are we going to start getting down to that sort of micro level whos printing in cheating m
Soaring 60 this year. And it just got a huge upgrade. Its our call of the day. The Investment Committee is ready to go. Halftime report starts right now. Good monday. Happy columbus day. Your Investment Committee today is joe, john, jenny harington, mr. Ron, cnbc contributor. And also with us is keith banks, bank of americas vice chairman, head of the Investment Solutions group. Welcome. Safe to say that the friday euphoria over a partial trade deal, socalled phase one may be fading fast. Our sources saying that china wants another round of talks before signing any kind of a deal phase one or otherwise. Secretary mnuchin saying he expects tariffs to go up in december if there is no deal in place with china by then. So guys, thats the big story. The markets doing well. Today not giving it back, but were not doing much. I know the bond markets closed. Take us out where you see things headed im not sure. If the market is not noes honest answer ever. Im under whelmed about the trade deal.
They can get away with those because the people have less political power. Hello there im max kaiser this is the kaiser report the show that goes there. Days hey max by the way you know its just a week and a half from today that we will d be imposing tariffs big tariffs on european goods this is a bit of a shock in the past came out of the blue we were in these trade wars cold wars civil wars we had all these wars flying back and forth alone behold suddenly we start sanctioning well imposing tariffs on european goods and this is based on a w t o ruling that they decided that in fact air bus had provided 7500000000. 00 worth of subsidies to air bus from the European Union nations so we get to impose some and of course child picks out all the nice foods if he doesnt apply you know he famously it likes things like hot dogs and hamburgers and burger king stuff and donals and junk food so hes applied it to things like stilton cheese ing google and stuff like that not bring. One. You know th
Applied but i believe its 10 percent on air bus products so there is that but also you know its interesting that you mention the printing of money and. Like why is the fact that say for example the e. C. B. Has printed more money than the Federal Reserve bank why is not that considered a subsidy as well like oh are we going to start getting down to that sort of micro level whos printing in cheating more theyre all cheating essentially is what theyre saying but some are cheating faster and harder than others right its a form of cheating again when you leave the Gold Standard theres no way to have an accounting or a Balance Sheet that shows exactly whos trading with who and what a sorts of silly print money to cheat to undermine to try to grab a few extra pennies or euros here and there and that it is part of the scheme and that is what happens when f. E. M. A. Money and Central Banks and. And and fractional reserve banking and it just ends up into this this huge enormous pyramid of pape
Head into the rest of earnings season i dont know if e. Theyre th bellwether, mel. Late night for us yankee fans oh, yeah. Im a new york fan, go yankees. But lets talk markets. We do what we need to do, as you know, mel. Are there Trading Opportunities . I still think they are citi was an interesting play tangible book is around 69. I think what youll see is a bounce after earnings on the back of that it trades anywhere from 85 of tangible book to 1. 2 i think thats whats going to happen now in terms of the bellwether for the broader market, i dont believe that to be the case. I think its all positioning. Weve all talked about that. I think positioning has been negative in the financials ive been negative in the financials i do believe estimates have come in enough that you can sort of walk over them so i think youll have a tradeable bounce in the financials but longer term i would not be there. Id be positive on the banks. Its hard to go into the Third Quarter. I think the expectation