The Dnipro.

Right.

Think of it as their Mississippi.

Most of the population to the east of that r- river, Russian language, Russian culture, Russian religion.

Everything to the west of it, Ukrainian.

And Ukrainian religion is one...

They're cousins, but not quite the same people group.

They both recognize, like, "We've got trouble here." Um, the left is screaming, "Let's just default." The right's saying, "Actually, let's make the situation worse."

it doesn't do any good if it's just sitting there camping.

Yeah, so the Fed can print $40 trillion right now, but if it doesn't go into motion, you bury it in the backyard, there's no inflation.

But let's say you've got 40 trillion moving, and let's see, the first guy who uses it is the gas station attendant, because from somebody who filled up their tank.

So he takes it and goes buys flowers for his wife.

And then the florist goes and takes it and buys groceries at the grocery store.

That's not $1 being spent, that's three.

And so, and the faster it moves, and as people try to get rid of dollars as fast as they can, because they know prices will be going higher later, then that dollar gets spent not three times, but five times, seven times, 10 times, 12 times.

And this has everything to do with the swaps and the overnights and the cost of money.

It can be grandma who just isn't spending all of her money and she wants to invest something.

something.And they're the audience.

And they walk to Japanese and they say, "We have $55 billion of five-year treasuries," think of them as CDs that mature in five years, "at 3.5%.

Who wants to buy them?" And the paddles go up.

The paddles aren't going up, and that's the issue.

It started in Japan.

Uh, when we talked a couple months ago, we said the y- the yen is collapsing, and they needed to cash in some of our US treasuries in order to stay solvent, and we went through all of that.

... bid for the work that they're gonna get, and they're going, you know, up and up.