Welcome to France Interest Rate Observer of the Air.

I am New Grant, and with me as always is the great deputy editor of Grants, Evan Lorenz,

and in a new wrinkle to the new year, Harrison Waddell, the man of all trains at

Grants is the sound engineer. And our guest

today is the versatile Christopher Whelan, Richard Christopher Whelan. And we'll get around to talking to

Mr. Whalen, just a moment. Evan, happy new year. Happy New Year. Yeah. We were up late last night.

We closed an issue with grants, and it was, you know, it was great.

The first one of the year. And what was your favorite part of grants?

I think it was about 10.01 when he finally closed the issue.

No, I'm not asking you what time you got to go home. I'm asking you what essay was the best part of it.

And let me give you a little hint.

The front page that you wrote was fantastic.

Thank you. You see?

Questions the nature of money and kind of the risk that people are taking.

We're talking about fintechs and likening some of this to the single best quotation, Chris,

that Christopher is, among other things, is an acute observer of the present, but no less an historian of financial past.

And Chris, I'm going to share with you by way of introduction.

I'm the single best, most colorful and most perhaps informative single quotation

I've come across about financial history and the nature of money and nature of credit

and of banking, right?

It's a big claim. This comes from

the Salman P. Chase paper, as he, as you know, Mr. Chase was a Supreme Court Justice who had the

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