Hello for a robot capitalist, hope you're well.

I'm right here with my good buddy Jeff Snyder,

and you caught us right in the middle of a conversation.

We were when we were talking about the plumbing

of the financial system and what on earth is going on right now,

not just with Silicon Valley Bank.

That may be just kind of the minor stuff, to be honest with you.

There's a lot more going on underneath the surface when you get into the

nuance.

So Jeff, let's let them right into our private conversation here.

What were we just talking about?

You're adollar futures.

That's where we always need to start,

where you begin your analysis,

because that's the deepest, most sophisticated market.

And if you want to know what's going on

in the monetary system, what, anybody with trillions of dollars on the line is thinking and worried about what they're hedging, how they're hedging, that's the place to go.

And as George and I were just saying, you're just shaking our heads at the, I don't even have a word to describe the moves today we're just talking about the September

2023 euro dollar futures contract or excuse me yeah the September 23 contract which is up nearly a hundred basis points just today and that was after a

50 50 basis point move on Friday I mean this is just literally insane because...

So, meaning the price, Jeff. So the yield has been crashing on... And by the way, earlier, and I'd like to get your take on this,

we did a video on how the two-year Treasury has gone down by a

...