Welcome, this is Current UL, Grant's Interestory Observer of the Air, and the fellow with the head cold, modulated voice is me.

That's Jim Grant.

I'm with you, as always, with the great deputy editor of Grants, Evan Lorenz.

Evan, welcome.

Good afternoon. Yeah, and Henry French, who does Lorenz. Evan, welcome. Good afternoon.

Yeah, and Henry French, who does our engineering so well.

Henry, howdy.

And we have a guest today, and his name is Steve Bogdan.

And Steve knows a few things about investment strategy and geopolitical strategy

and how the two connect.

And he can talk to us about some of the extraordinary facts that have come to

light concerning.

For example, I would call the naval competition between China and America, except that one

side of that competition seems not to know there's a competition, so we'll get around to

that presently. Evan, as you know, as you know, so we'll get around to that presently.

Evan, I, you know, as you know, we take a rather platonic view of advertising on this program.

We don't like to sit at our own whistle.

It's unseemly and we're all also just rich enough anyway.

Right?

Yeah, we occasionally throw a great conference, and occasionally the future, you know,

Treasury Secretary might come and speak at them.

Right.

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