A packed show so lets get started. And we begin with developing news right now on the u. S. In ca which is the new u. S. Trade agreement with canada and mexico because as of monday trade negotiators from the u. S. And mexico and canada have reached a tentative agreement on this deal it would essentially become the new nafta reports indicate that a final deal could be completed were told within the next 24 hours with Congress Voting to ratify the agreement before the end of this year and this is a compromise deal that has been underway for months now with work being done to close the gap on key differences between the administration and House Democrats the biggest difference has been the enforcement mechanism on rules for labor unions and protections mexicos government remains opposed to allowing u. S. Inspectors to enforce labor rules in mexico but they say theyre open to the use of arbitration panels to resolve disputes over labor standards and another demand of miles democrats is the lowering of intellectual property. Protections for biologic drugs passing this revised version of the u. S. In ca would eliminate and replace the old nafta agreement which was a Key Campaign Promise made by president during his 2016 campaign. And Chinese Telecom giant weiwei plans to outfit more of its products with their harmony operating system in 2020 a while way spokesman confirmed the news saying there are no plans at this time to roll out the new o. S. On phones tablets and computers but rather use them on smart displays and other appliances while away initially rolled out harmony in august as a possible alternative to googles android operating system as the Chinese Company faces restrictions from the United States due to being put on the socalled entity list smart phones laptops and tablets manufactured by wall way will continue to use android for the foreseeable future with hope officials hoping they will never have to make an official switch to harmony meanwhile the Financial Times is reporting news that Chinas Communist Party has called on all state offices to move forward hardware within the next 3 years the policy has a 352 mandate which means replacement of the software and equipment will happen at a pace of 30 percent in 202050 percent in 2021 and the last 20 percent in 2022 analysts say that this could mean as many as 30000000 pieces of foreign equipment in these Chinese State offices that will need to be replaced now for more on this we did an apparent trade win for the u. S. Lets bring in peter schiff c. E. O. Of Euro Pacific Capital peter thank you so much for joining us today i want to jump right in here so lets start with your reaction to this reporting regarding chinas plans to remove foreign hardware from stays offices is this a consequence that the Trump Administration may not have seen coming when they started their battle with weiwei some months ago. Well you know government members never sees the unintended consequences of their actions and certainly this is one of them had this is one way that america loses by. Fighting a trade war the best thing to do would be for trump to concentrate on making government smaller that is the real problem for u. S. Companies but unfortunately trump has been making government bigger he the other problem has been the Federal Reserve but now donald trump is leading the charge for the more of the same reckless Monetary Policy that has been the problem in the past and so its going to continue to be a problem in the future. You know trade has been a topic of conversation since the start of the u. S. China trade war but one issue thats gotten very little talk is the u. S. In ca we just reported on the fact that the deal looks like its been finalized here is the new nafta im not sure why we needed a new now when were trying to get rid of the old one but what do you make of the Mexican Foreign minister marcello board saying that they could accept provisions regarding the origin of steel and aluminum in north america but only if they take effect 5 years after the trade deals ratified whats the point of all this peter. Well look the point of all of it is so trump can keep a Campaign Promise you know he he hasnt been able to deliver even a phase one deal with china let alone a subsidy to deal so basically u. S. M. C. A is really the only shot hes got at a deal but you know the reality is the new draft is not that much different from the old nafta and in fact i believe that had the new nafta been the original deal Donald TrumpsCampaign Rhetoric would have been identical of we had that deal he would have been saying this is the worst deal ever and hes going to go and change it and so then he would be tweaking it again and you know im not sure whether or not on balance this improves the deal from the perspective of the American Economy or makes it worse i mean i think i recall when i 1st read about it there were some things that i thought maybe made it better and some things that made it worse from the perspective of the consumer because trade is supposed to benefit the consumer give him more goods at lower prices i dont know that this actually is going to deliver that but again the real problem is not nafta or u. S. M. C. Its our own government its our own taxes and red. Elation and central banking thats the root of the problem and right now were just rearranging the deck chairs on the titanic yeah because the bottom line is nafta issue wasnt about you know labor standards in other countries and making it all even the issue with nafta were jobs that left the United States manufacturing jobs that went south into mexico right thats essentially when trump was campaigning about this saying thats what it was made it such a terrible deal so the us if he doesnt fix any of that right he doesnt send any jobs back to the United States how again the worse deal ever i guess he would be saying that if this were not the big deal hes putting together. A course now he claims that the new one is the greatest deal ever when theres very little difference between these 2 extremes but you know what the provisions are trying to do that you identified trump is not talking about making america more competitive hes trying to make mexico less competitive by trying to get the Mexican Government to screw up various trees to match the way the u. S. Government is screwing up bars so thats not going to help americans to make mexico less efficient and its not going to being bring jobs back to the United States because theres all sorts of countries besides the United States and mexico we need a more competitive American Economy a more competitive American Manufacturing base these trade deals are going to do that but as i said earlier whats going to do that is Smaller Government fewer regulations you know lower taxes and to do that we need a much Smaller Government and we need more savings and Capital Investment and to do that we need an independent central bank that lets Interest Rates go up so that savings can go up but of course that means that the stock market bubble is going to pop the bond market bubble the Real Estate Market bubble and were going to have to you know get out of this phony economy and live in the real world and you know what peter and youre actually you know when you talk about the Central Banks the bank of International Settlements released a report citing an unwillingness by the big banks to lend cash accounting for the injection of billions of dollars and repo markets. Why are banks so reluctant to lend right now and this is a trend were going to see moving forward as the state of the Global Economy remains in flux i mean when were talking about good Monetary Policy here it doesnt seem like this is good Monetary Policy. Well one reason is they dont have the funds to loan out but the other reason is the loans are not worth the risk i mean thats the problem if you make a loan youve got to get your money back and the Interest Rates are so low that its probably not even worth the risk why it might take all that risk to get a tiny amount of return if youre putting all of your principle in jeopardy because the Interest Rates are too low the fed has got them too low its keeping them too low to sustain these bubbles to prop up the phony economy and so now the Federal Reserve has to come in and create the money out of thin air because theres no legitimate savings to finance all these loans record deficit spending record debt and such artificially suppressed Interest Rates and all this means a major financial crisis is coming peter schiff c. E. O. Of europe Pacific Capital theres a lot more we could cover but we dont have the time so thank you today. Im sure they. Are. All right so listen to this amazon c. E. O. Jeff bezos says that his company will support the department of defense and wants to move forward providing support to pentagon programs. Of course he does an annual defense form of the Reagan Library in simi valley california based on state in this quote we are going to support the department of defense this country is important in quote ok obviously but keep in mind amazon just lost a bid for it in 110000000000. 00 Cloud Computing computing contract with the pentagon last month after which was on filed a lawsuit in federal court contesting the award of that contract to microsoft again this is a 10000000000. 00 contract were talking about here and was on have been expected to win the bid and now claims that president trumps dislike for bezos unfairly since the contract over to microsoft at the forum where bezos made these comments about supporting the department of defense and how important the country is he was partially responding to questions about google employees who push back against their employer using googles technology during warfare but as a says that while he supports his employees having passionately held views how kind of him it is up to the Senior Leaders of the company to provide guidance into what projects they would and would not do saying this quote my view is that if big tech is turning their back on the department of defense this country is in big trouble now you know been. It seems like theres an easy observation here just once that easy money from late government i mean it keeps coming back over and over again you signed that deal and you signed a 10000000000. 00 contract with the government you know you do a couple of things and also its a 20000000000. 00 contracts a little look heres the reality if jeff bezos that was being. Bezos is being sincere right about this heres what he would say well do this thing at cost right we dont have to make money on the 60 percent of amazons bottom line is made up through its 8 of us Cloud Computing services so they could say hey listen as a patriotic act as we wrap ourselves in the flag what were going to do is go ahead with this economy is not doing that instead he wants 1000000000 dollar multibillion dollar contracts to flow in from the department of defense in order to do this and then says hey. My employees have a problem with that too bad because were the visionaries we know what were doing you know what hes going to say i mean we cant just do it for free weve got the best service in the world make me sad now for a quick break but a year because when we return their stock keeps falling since that was issued of months santo 3 juries have found that round up caused cancer and now the number of claims being filed has more than double dose of americas lawyer might happen tony who joins us to explain where the lawsuits go from here and. Decided to reduce production for the picturesque through plant and total 500000 barrels per day. Has agreed to slash oil output in the wake of the saudi aramco i appeal ambitions David Mckelvey any of mcelhaney financial help us understand the cuts and drills into whether this could ultimately backfire on the International Organization and as we go to break here your numbers at the close. The world is driven by a dream shaped by. Thinks. We dare to ask. The same wrong. Just dont know. Yes to see. Is the answer. And in the game equals. When something you find themselves worlds apart we just of the common ground. It seems to have gone from bad to worse for bear pharmaceutical ever since acquiring u. S. Seeds Company Monsanto for 63000000000 dollars last year now bear says that the number of cases alleging that the companys herbicide weed killers including roundup have caused chaos or have more than doubled over the past 3 years in july the Company Reported that 18400 cases and that number ballooned 242700 cases by october 11th you have already 3 u. S. Juries have ruled against bear in cases brought by americans claiming that roundup cause their cancer shares america plummeted by 30 percent since the acquisition was completed in the summer of 2018 last year joining us now to go in depth of americas lawyers americas lawyer himself mike happened tony and mike thanks for being here. Yeah lets start with this claim that there is making that there is extensive Scientific Research they say showing that the life of say based herbicides are safe and they say do not cause cancer but again 3 juries have already ruled that they do so how does bear overcome that. Well they cant i mean the truth is being clear now that what these science theyre relying on is science that they paid for they went out and found. That would sign off on what it whatever it is they would actually write the articles called ghostwriting they would write the article they would take it to a scientist or a doctor that wanted a little make a little extra money on the side little egg. Money half a 1000000. 00 or a 1000000. 00 simply to put their name on the bottom of the document it was all a lie the Clinical Data was phony the clinical conclusion was phony but that didnt stop the didnt stop scientists that wanted to make this little extra money signing off on it and because of that theres 42000 lawsuits right now and many many people have been injured by round up in that number i got to tell you it just keeps increasing its going to continue increasing look can you imagine being the people at bear corp who made the decision to buy monsanto knowing that this liability case was way way beyond anything that was being publicized its laziness its corporate laziness its a c. E. O. In the advisor to the c. E. O. Of bear who didnt have enough sense to look behind the science and what they had coming at them was these Silk Stocking wall street lawyers that were telling oh yeah this is a good merger this is a good buy for you so they purchased this for 62000000. 00 they obviously ignore the fact that the claim just right now if this case were to settle today before these numbers increase theyre already looking at 15. 00 to 16000000000. 00 just to make this go away in another 2 months another 3 months that number of 42000. 00 cases will be up 270000 so that c. E. O. For that person 1st of all not to be fired and have all of the all of the folks that advised them not to be fired cleaned out in said you idiots bought a problem thats going to cost us 15. 00 to 17000000000. 00 knowing knowing clearly that the science showed a clear relationship between this product and cancer so i may you go tell me youre more familiar with the Business World than i am that what im familiar with is. The way this was sold to them is they had these Silk Stocking lawyers that were charging 23000. 00 an hour telling them oh yeah this is fine were ok and then they get hit the 1st time then they get it the 2nd then they get it the 3rd time and im going to hit them again at the 1st of the year and the science is clear they can try to dress it up any way they want this is a losing proposition for bear and monsanto they better get out of this case and now from a business standpoint they better move on right now and its interesting that you mention the thoughts of bears c. E. O. Because theyve been making the point right now that this huge jump in lawsuits is because the surgeon antiriot up advertising on the plant plaintive side now estimating that over 50000000. 00 on t. V. Advertising alone has been spent in the 3rd quarter of this year you know how much of this actually has to do with advertising and its actually people who have problems here think of how ridiculous that argument is ok theyre complaining because people are advertising and now all of a sudden people that say yeah i saw the advertisement and oh by the way i have not hodgkins lymphoma and oh by the way ive been around round up for 3 years at a really steady pace ive been exposed to it ive had it on my skin ive breathed it and then look for somebody to make the argument the only reason we have this problem is be