ruled Britannia, Britannia ruled the waves.

Man, I hate changing lyrics of songs that I used to love.

Hi everybody, I'm Bill Little here with Steve Green and Scott Ott.

One of the strange things about having grown up in Bermuda and going to British schools for a significant part of my life was singing God Save the Queen every morning, got so used to doing that.

It's got to be strange to be singing, God save the King now,

and they have to change all the post boxes and all the rest of this stuff.

But much more to the point.

There is an institution in Britain that is, I think,

in many ways, deeper to the core of that island nation than the monarchy itself,

and that's the Royal Navy.

The Royal Navy is Britain and has been for the longest time. As we entered Operation Epic Fury,

it became clear to us that not only was our formerly most muscular naval ally, not living up to the task, but that the Royal Navy has, in

fact, in the course of the last four or five years, simply ceased to exist. And I don't

think that's much of an exaggeration. Gentlemen, probably the first little salient fact is

Royal Navy has more admirals than it has ships,

but much more to the point.

They don't have very many ships, and the few ships that they have are not seaworthy.

I'll give you a few examples.

The Royal Navy invested a great deal of money in their two aircraft carriers,

the Queen Elizabeth class,

Queen Elizabeth and Prince of Wales. Neither one of them are sea-worthy or operational at this time.

I think they were down to something, I don't remember the exact number, it's in the vicinity of

...