Welcome to Grant's interest rate observer of the air.

Ladies and gentlemen, as usual, our tight little family consists of Eric Whitehead at the

control panel and Phil Grant, who is the editor of almost daily grants, the indispensable, almost daily

pracy of developments in the financial markets. And to Phil's left around our family table

is Evan Lorenz, the great Evan Lorenz deputy editor of Grants. I am Jim Grant. And with us today

is Kai Stinchcombe. Now, there is a formal biographical sketch of Kai, which I might get around to

if I feel like it. But in the meantime, I would like to introduce him as he chooses to introduce himself

to his readers, as readers specifically of a fabulous, and I use this word advisably, a, now quite

fabulous December 22nd essay on the blockchain.

So here is Kai, in his own words.

He's a CEO and co-founder of True Link Financial, a bank investment service for seniors.

Parthenetically, that's fine, that's me.

Close parents.

Now, back to Kai.

In his spare time, he enjoys hoping that post-singularity, a detergent delivery drone does not self-execute a smart contract

on his life, bit bleaching him from the sky into a hissing pool of unstructured data in

exchange for a handful of Bitcoin, close quote. So that's Kai. Kai also, actually in Evan

Lorenz's words, is the founder of Truling Financial, which caters to retiring.

I'm old, but I'm not retired. Does that make the unqualified, Kair qualified?

I don't know you well enough yet to answer that question. I'll tell you if you.

We'll get around to that a little later. And he served as the head of risk and

analytics that lend up and has some other experience and what I guess some people call FinTech. I

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