Well, this is current yield, ladies and gentlemen, Grant's interest rate observer of the air.

I am Jim Grant, and with me, as always, Eric Whitehead, who is our engineer and a man at control panel.

He's right there.

To your left, I think.

The great deputy editor of grants, Evan Lorenz, and Phil Grant, who edits our indispensable almost daily grants.

And with us today as well is Dylan Grice, who is the author of Popular Delusions and a man

from whom we will be hearing a great deal presently. In the meantime, let's get some of the housekeeping

out of the way. Eric, I understand that you are off on one of your

adventure vacations with the family. I think the destinations include Iran and northern Italy, do they?

Well, each to his own, I suppose. A value investor. Yeah. Well, we are, we here at Grants are doing

the best we can in these dire circumstances. For example, I said dire. I got on the elevator today, this building,

Woolworth Building, and by the way, we're almost not supposed to be here. So great is the panic in the

city of New York. But I got in the elevator. But before I could press a button, a building guy comes in,

leaps into the elevator. He's wearing a mask and gloves. And he says, what floor, sir, which I think is very nice.

And I said 24, which is the correct answer. And he, with a sanitizer, wipes off the elevator controls

and then himself presses 24. I haven't come from the subway, having do all the things you do on the

subway, right? Like hang out of the poles, lick the floor. I was astounded by the service we're getting this building now. But this is a, I think it's an

example of the pure panic that we see around here. That's an editorial comment.

Our Canadian work program. Right. Yeah. So Dylan, welcome to Grant's current yield.

Thank you.

Thanks very much.

So Dylan, ladies and gentlemen, you'll presently be able to conjecture that he was not

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