Today's animal spirits is brought to you by our friends at Y-charts.

One of my favorite charts at Y-charts is kind of a nerdy one,

but it's called US Savings Deposit at Commercial Banks.

And it shows the amount of money going back to the late 1950s

that's held in a savings account at a bank.

The number now, and there's this huge, huge spike

since the pandemic started in early 2020, it's close to $10 trillion.

Now, I looked up the average rate on a commercial bank savings account.

What do you think it is, Michael? Any guesses?

The average rate being paid out on a savings account at a brick and mortar bank.

Ten basis points.

Six basis points.

So we're talking nearly $10 trillion on the sideline,

earning an average of six basis points.

And we're going to use this chart later in the show today

because we're going to talk about things like stable coins with crypto.

Correct? So I just wanted to get this one out there.

But this is one of the cool charts.

I have a bone to pick.

Okay. Well, this should be a log chart.

All right. That's not the point.

The point is just it's a lot of money.

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