Surviving the Inflationary Money Flood

Hinzugefügt: 2026-06-01

[00:00:00]Nothing in this program should be considered investment advice. It is for educational purposes only. Please hit pause and read this disclaimer in full.

[00:00:09]>> After 2008, you know, the Feds, you know, fueled this speculative behavior and now they've finally convinced the average person to throw out any historical wisdom and just pile all in.

[00:00:30]Hello everyone and welcome a very special welcome to this episode of Finance Hugh. We have a lot to discuss today and back with me is Paul Ker of Kiker Wealth Management. How you doing Paul?

[00:00:40]>> I'm doing good Chris. Having a good time during these very interesting times that we live in.

[00:00:44]>> Sure thing. So we got to talk about the money flood. So So here's the thing.

[00:00:49]People are like, "Oh, you know, stocks are up. You know, it mean it says something, right? It means something.

[00:00:56]But when we're honest about this, this isn't a US money flood. This isn't a US AI story. This isn't just the big seven.

[00:01:01]You and I have talked about this before, but here we're looking at the Dow Jones, the S&P 500, then the Nikkay, Japanese stocks, Euro stocks 50, self-explanatory, NASDAQ 100, and the German DAX. Every single one of these, Paul, is at or right near I think German DAX is just poking at at its all-time highs ever. So, this is worldwide. This is Japan, Europe, Germany, US, big tech, small tech, no tech, doesn't matter what we're talking about. Uh, it it's just it's an absolute So, this is a money flood. And this money flood obviously kicked off after that April taper tantrum thing, um, tariff tantrum that we had beginning of 2025. Uh, and it's just been off to the races. So, this this speaks, Paul, to to a massive global money flood. That's what this says to me. And it's independent of country at this point. It's pretty massive.

[00:01:56]>> Yeah. It seems to be all the western countries. And the most dangerous part is is you've got this massive money flood that appears to be out there from all the data that we're seeing with the addition of of the markets being turned into a casino with all the zero day options, the gambling, and the max euphoria which happens at these parts of cycles. You've got this perfect storm right now that's setting up to make it impossible to know when this ends. You know, it could end two days from now. It could end two years from now.

[00:02:25]>> But the longer it lasts, the more damage it's going to do to the average person on the other side because they're fully convinced that that, >> you know, the easy liquidity, the euphoria that's behind that they are the next Warren Buffett and but they have no risk management skills. They have no exit skills. They're really skilled at speculating and thinking they're investing.

[00:02:48]>> Now, you and I talked about this last time that that bonds obviously are selling off and we have some more data on that later. Uh might be in a in a slightly different segment here, but in the United States, remember we had the bad old 2022s. That was ter that was a terrible time. We had negative money growth. Oh, remember that stocks and bonds down like hor that was bad. So they freaked out and ever since then it's been a wall of green and it's just been money supply growth is just growing growing growing growing and that's the US side. This comes from Tavy Costa. I got it off of his Twitter handle and here's also from Tavi Costa. Look at global money supply Paul 7 plus 17 trillion since the beginning of 2025 to now. So that's a year and a half. 17 trillion in the global system and they're not buying bonds. In fact, they're walking away from bonds. What's left?

[00:03:41]Equities, I guess. Yeah. Right. Where do you put 17 trillion, you know?

[00:03:46]>> Well, I mean, it it's just driving asset price inflation. I mean, across the board it is. I mean, the more money that's out there with limited uh assets, then then that's driving those prices up. And I think everybody's been chasing momentum stocks. It seems to be chasing the AI trade right now. You look at how large a percentage of the S&P 500 that is. But as the bond market starts to crack and especially if they step in there with yield curve control and all that I do believe and we're already seeing in our money flow indicators that commodities emerging markets those and espec specifically emerging markets a lot of them are related to commodity production so they benefit with higher commodity prices. We're starting and to continue to see money flow into those directions in in and big numbers which is telling us that big institutions are saying hey if this continues we won't own real assets more so than the shiny assets of the market and your typical modern portfolio theory passive investing is not going to make that adaptation soon enough um to protect their purchasing power. So, I I think it's going to ultimately ridiculously benefit commodities in general and and emerging markets because of the pressure that's going to put on the US dollar at some point.

[00:05:04]>> Well, this M2 is is principally that's bank lending when we're talking about this. Where did that 17 trillion come from? Well, that's mostly banks lending for whatever reasons, right? Also, it's government's borrowing, right? So of that 17 trillion in global new liquidity taking it from 105 to 121 trillion we have to from 2025 that's at least $4 trillion of US government debt is part of that equation um because that borrowing ends up showing up in the money supply and of course the headarters of the money supply picture is the Federal Reserve here and they've printed $178 billion over the past 176 days from December 3rd to now. last reading uh 520 May 20th. So that's 178 billion and 176 days. So that's a billion a day. It's just a just a billion a day. Just a little little taste, little something something for the markets. The Fed is going to be out here talking about how is it time to cut rates or raise rates or irrelevant.

[00:06:00]They're printing money, right? A billion a day. A billion a day. Paul, when I came across this though, because I'm putting all this together, I'm like, where's all this money? Where what is this money flood? What what is it? I hadn't really digested this till I got in here. And so this is money market funds. So total level, right? So let's just start. I think the first money market funds opened about 1980, right?

[00:06:22]And by about 1998 or so, it crossed their first trillion.

[00:06:28]And then by 2000, oops, but it fell back a little bit. It hit two trillion by, you know, 2005. Then uh-oh, great financial crisis. Boom. Right up here.

[00:06:36]Clo touches 4 trillion. settles back 3 trillion 3 trillion 3 trillion 3 trillion until right here at about 201819 boom puts two trillion on from 3 to 5 and then sort of parks along at five for a second this is the second quarter of 2022 where I said you know this is where they started freaking out look at this Paul $3 trillion new dollars in money market funds three trillion >> incredible >> in just >> it's incredible >> basically four years >> 60% % increase in in a and all of that period of time happens in in that short a period. That's incredible. Five.

[00:07:16]>> Where's this coming from? Where is all this money coming from?

[00:07:21]>> I mean, they're not telling us that they're QE. That's a good question where that's coming from, >> but there it is. So, and and of course, money market funds, you know, huge part of the liquidity of the system. Most of those are are are housed in things like corporate bonds, treasury bonds, sometimes agency bonds, but most for the most part it's it's this is a story of the US government needed to start parking a lot of treasury money some bonds somewhere and money market funds stepped right up. Now, I'm going to show you a little piece of we're going to talk about a piece of that later. It's kind of arcane. It's about the basis trade. Anyway, we'll talk about uh there's something really something changed here. I just want to be cognizant of that. Something drastically changed. This is the sharpest, fastest increase in money market funds. Three trillion. It's a not insignificant number. It's >> that's a massive number.

[00:08:11]>> And you put it all together and what's the incentive to print? Well, obviously, you know, the Fed really likes assets in particular likes the stock market going up and to the right. And here we're looking at global M2. That's broad money lagged by about 11 weeks. So broad money slashes into the market 11 weeks later.

[00:08:30]Um the stock market response boing and very tight correlation. So this this suggests that you know um all you have to do is really keep your eye on on M2 and it's growing like crazy. So money flood. Now obviously this creates excitement because you get stocks going up Paul but you also get more and more people reporting that they can't afford to live anymore.

[00:08:55]>> Yeah.

[00:08:56]>> Right. I mean, and that's real pain that people are experiencing right now. I mean, that is real pain. And I mean, it's amazing to me because I've heard conversations around the edges when I'm out in places just how expensive things are and we don't want to travel as much cuz it's just getting, you know, one, it's a nightmare to get through security and everything involved and just how expensive things are. So, that that's a more common conversation everywhere I go. And I'm usually pretty sensitive to pick up on those when I hear them. But this is something that started at the corner of cocktail parties six months ago. That's now the center of conversation, >> right?

[00:09:34]>> For the average individual. Now, those in the top 5 10%, they mention it, but their lifestyles aren't being changed.

[00:09:41]The average person and what is traditionally your middle class is is is really starting to make some behavior changes because of these price pressures. And why are they continuing that, right? 11week league that puts you pretty dang close to the election cycle.

[00:09:57]Is this all just a political uh event?

[00:10:00]You know, we're going to cause a lot of pain for a lot of people to help us politically in the short run. I I don't know why. There's no reason to be printing money at that rate. And if you serious about getting rid of inflation, then you need to be reducing the money supply in some manner. keep rates the same, but stop, you know, stop keep quantitative tightening instead of quantitative easing easing, but that's not going to help the political outcome in the short run. So, is that really what this boils down to? It sure seems to be.

[00:10:29]>> It could be, you know, and and speaking of behavior changes, right? You know, we've talked about this before. What do you need for a bubble? I I argue that we're we're in a just a vicious bubble.

[00:10:37]Take a look at the stock price. And by the way, Paul, if I ever mention a specific stock, I'm obviously not making a recommendation for or against. any particular share. And of course, I will never give out anything like stock tips or anything. There's a lot of fraud out there right now. So, sometimes when we post things to YouTube or I put them up on Twitter, you get these bots that show up and say, you know, I'm Chris Martinson. Follow me for stock tips. I never do that. Just want to be crystal clear about that. I know you never do that either. So, I mean, I hopefully that's obvious, but I just I just there's just so many scams out there, right? Um >> Yeah. Yeah. You just have to be diligent every for everything, right? Yeah, for everything. So, with that said, if you looked at the stock price of Micron, you know, uh, ticker MU, it's straight literally straight up. You know, you have to put it on a log chart and it still bends up. You know, it's crazy, right? Um, that's not my that's a bubble, right? So, what do you need for a bubble? You need a good story and you need ample credit. Those are those two things. It's all you need, right?

[00:11:39]Everything over your head there, right?

[00:11:41]They started lending against tulip bulbs, right? you know, great story.

[00:11:45]Tulip bulbs, credit, you know, railroads, good story, credit. Yeah, it's it's every single time. So, with that said, have you seen this chart of margin debt? You know, >> that's insane. Yes, >> margin debt. So, these are people borrowing or individuals or entities borrowing in order to bet or speculate or uh buy stocks with leverage >> in the stock market. typically about you you need to have 50% margin um in res uh again you can borrow up to 50% of the value but that means you can double you can double your holding size right if I had 100 shares I could go on margin and acquire 200 shares right of something so but this is 5.3% of GDP it's never been higher compared to GDP obviously as an aggregate number 1.3 trillion woo and but look at it of late this past this most recent behavior here. Again, this is ex this is incredible. Unbelievable.

[00:12:47]Puts the dot bubble to shame.

[00:12:50]>> Mhm.

[00:12:51]>> But anyway, >> sheer panic, fear of missing out, lever to the hill, gambling is what it is. And even within there, you can see it's not a rhythmic cycle, but you can see peaks and toughs and peaks and troughs. But again, you go after 2008, you know, the Feds, you know, fueled this speculative behavior, and now they've finally convinced the average person to to throw out any historical wisdom and just pile all in. Yep.

[00:13:18]>> Right.

[00:13:19]>> Just pile all. Wow. It's really something. It's really Wow. It's amazing.

[00:13:24]>> So, >> that's mindboggling. So, I was going to say, and Chris, here's the thing. People are using it to buy real estate with cash. they're they're, you know, some of it's not just levering up on their investments. It's like, well, I don't want to pay capital gains, so I'm going to borrow against my stocks and I'm going to go buy this or I'm going to buy cars. It's rippling into all kinds of other areas, but people forget like, look, if you got 50% margin on there, not only do you have the carrying rate, but if you do have a reversion in the market, which was normal historically from our levels, that's a 50% decline.

[00:13:55]Now all of a sudden, it's forced liquidation if you don't have the money to reduce that. and you lose your entire position, right? So, I mean, it it is a highly speculative way to invest and it's just another mile marker that's a signs of the times of the part of the cycle that we're in.

[00:14:14]>> Yeah. Just to to put this is a little wonky, but it for we'll talk people through it. Um because this also explains just how much liquidity is out there. Okay. We the Fed's printing, banks are lending, uh people are borrowing to on margin. And I mean it's just it's just like a unbelievable free-for-all and one measure of that is this which is lowkey. Um so the sofur um so this is the secured overnight funding rate. So banks if you're a bank I'm a bank we we lend to each other overnight right sounds kind of short termish but there's reasons they need to do that for capital cushions and sufficiency and things right. So so you might have a little extra cash and you're like you know what I don't need it tonight. I'll lend it to Chris and I'll borrow it for the night. give it back in the morning, right? So that's the overnight and it's secured. So these are probably secured with something, some asset I've got, usually treasuries, right? So it's secured. And then there's the Fed funds rate, which you know, if you're a big bank, you're a big bank, I'm a big bank, we can just park our money at the Fed, you know, you get this Fed funds rate, right? They they're offering you something and the Fed's pretty guaranteed to you. You're not going to lose your money at the Fed, right? So So it's good good stuff. So normally normally normally you will find that the when you subtract the Fed funds from the secured overnight funding rate you you're left with a positive number of some kind, right? Because we're charging each other more than the Fed might charge us. If the Fed's number is larger, we go below zero. It's unusual.

[00:15:42]It happens, but it's unusual. Look at this. Look at this period right here.

[00:15:47]This is this is huge. like and it just says when when we're above the zero things are tight. Cash situation liquidity in the system's tight. When we're below it's loose. It's and this is really loose. We have just cash so much cash pouring out there. Paul, you're like Chris, I'll lend it to you overnight for 10 basis points less than I can get from the Fed. Not worth my trouble here.

[00:16:12]>> How much do you need, good sir?

[00:16:14]>> Yeah. You know, >> then easy money and easy credit is going to continue to fuel inflation. So, at any rate, this is about as loose as I've seen things in a long time. It just, you know, but you can, of course, you can see that in the way the behavior of stocks, right? Um the mystery man out at this party, of course, is oil, which just seems to want to go down as often as possible. And also very mysterious to me, Paul, that gold and silver basically have gone nowhere. We're at basically 4,400 to 4,600 on gold since the war started. It doesn't really go up or down. Silver hangs around 75 plus or minus 2. doesn't really go anywhere. Um, and that's a mysterious thing to me when we look at a geopolitical risk, b this amount of inflation and and all this pumping that's happening normally would be pretty constructive for your average commodities out there. Um, C because we are seeing the commodity indexes start to turn up, right? And D because we're seeing inflation show up uh across the board. Well, price hikes which doesn't well this is inflation is a monetary phenomenon. We also have some supply issues but you put the two together you get you get sort of inflation on steroids. So that's kind of a it is a mystery to me how our markets are behaving right now given this that we just talked about.

[00:17:29]>> It really is and this is where an investor just has to be patient right and disciplined. When you look at the weight of the information, you got to be patient until the information changes so that so that the the seeds of whatever is causing it, whether it's the hidden hand that's holding it down, we've seen that that they lost their grip for a period of time when we had some breakouts and then that big move for whatever reason. Either investors are directed chasing semis and and the AI theme right now that's peeling a tremendous amount of money over that way and momentum is moving that way. So there there seems that that lack of momentum in the metal space and commodities, right, chasing it over in the semis allows if there is that hidden hand to keep those prices controlled a little bit better without being overwhelmed.

[00:18:17]>> Well, isn't that interesting? So I I invite everybody, you know, keep your eye on the money flood, uh it it's actually one of the key indicators I'm looking at to just understand where things are going. And if M2 ever starts to fall, look out below, right? But I don't it's not it's not happening so far and uh probably won't given all the borrowing that's happening to construct data centers willy-nilly. That's hundreds of billions of dollars of debt and outstanding which helps helps the M2 supply just keep growing and growing.

[00:18:43]All right.

[00:18:44]>> It's a big flood. It is.

[00:18:46]>> Yeah. It's it is biblical. So we're talking about where is all this money coming from? And there's a little bit of a mystery here and it's a tiny bit wonkish but I think it's really important and I I want to go through this with people. So the Cayman Islands, it's a money, it's an offshore money center, right? So so most hedge funds, if they want to be doiciled outside of the US for for tax reasons, for other reasons, they get a post office box in a building down in the Cayman Islands.

[00:19:11]Honestly, they're not there. They're probably in New York or Palm Beach, right? But technically, they're doiciled there. So So the Cayman Islands becomes a place where we see things stacking up.

[00:19:22]And this was a fascinating paper came out in October of 2025. I don't think we went through it. I've referenced it a couple times. I thought let's take people through it because it's really astonishing. This was really quite shocking. It's got some very bland Federal Reserve sort of to speak in this. Um it was put together by Bar Beltrin Hoops Khan Leu and Perisc. Uh good paper too. They say introduction quote recent regulatory data collections on hedge funds indicate a massive increase in Cayman Islands hedge fund exposures to US Treasury securities over the last two years corresponding to a simultaneous surge in hedge funds treasury cash futures basis trade positions. We'll talk about what that is the basis trade. Okay. And so you know the the all this other data they say here statistics from the US Treasury International Capital the tick report data do not show a significant increase in treasury securities held by the Cayman Islands hedge funds. Huh. That's really weird because Paul I would think that if I own a if I own a a US Treasury okay the US Treasury has to know who to send the coupon payment to.

[00:20:30]>> Right. Right.

[00:20:31]>> They have to know that. Right. there has to be an account associated with that in some way, shape, or form. So, so I always assume they just pressed some buttons and said, "Where's all this paper being held?" Second, when an offshore entity holds US Treasury paper like China, they don't actually get a piece of paper. They actually have an accounting entry that actually is held in custody at the New York Federal Reserve. China doesn't actually have them. They're held in a in a custody account. Belongs to China, just totally not entirely theirs. So, when we looked at the most recent um one of the tick reports here, Cayman Islands has about $427 billion of US Treasury paper. That's what they said. And then this this study comes along and says, did we say 427? We actually meant $1.85 trillion.

[00:21:22]They were missing 1.4 trillion. And they got those off of the form PFS from the filings, from the hedge funds filings.

[00:21:28]They just dug through and said, "How many how many pieces of Treasury paper do you think you own, Paul? How do you miss 1.4 trillion of ownership in this system? How is that even a thing?"

[00:21:39]>> There's no way you can miss that much in the system. That's that has to be an intentional missing for some reason. But why would they intentionally obiscate or hide that data? Do do you have a theory on that?

[00:21:53]>> Well, it could be. There's some mechanism to this. So, so let's talk about the basis trade real quick and so people have a grounding in that and then I'll tell you what I think is happening here. So this is the basis trade. So there's a difference between the futures price. Let's say this is futures for a a T bill and it's in a year from now.

[00:22:13]Okay, it expires in a year. So you could sell the futures for $100, right? But then you could buy the underlying cash bond for actually $99.50. So there's a there's a gap there. So you short the future, you long the bond. That's it's a long short trade, right? Long the I buy the bond and then I sell this future out into the market. And then I wait over time those two prices come together and I pick up this I I pick up this full I if if all goes according to plan and something doesn't blow up on me, um I'm going to pick up this 50 basis points here, right? Half a percent. doesn't sound like a lot. But when it turns out that the gross short position treasury futures, so they're selling the futures again, is 1.2 trillion. Paul, if I'm short a trillion and I pick up 50 basis points, that's $50 billion.

[00:23:04]>> And it's basically amount of money.

[00:23:06]>> It's a huge amount of money. 50 billion is a lot for anybody, right?

[00:23:09]>> Yeah.

[00:23:10]>> So, it's always possible like, you know, how do where do you come up with a trillion, right? and we're talking about where did all this M2 growth come from.

[00:23:17]I think this is what's happening. I think that the the hedge fund would like buy all these they're buying all this treasury paper, but you don't have all that money kicking around. But now you have treasury paper. So you actually finance that by having a big bank give you money and then you give them the treasuries to hold as collateral.

[00:23:36]>> Okay.

[00:23:37]>> Even though you're in the Cayman Islands, it's actually I don't know that those bonds ever went anywhere, right?

[00:23:43]They might be doiciled in New York with JP Morgan in a in a collateral um account or some kind, but that that means that there's just this is this represents another infinite money glitch for the US government which is running two trillion plus a year and it has to find purchasers. That's what I've been struggling with. That's why I went down this path, Paul. I've been wondering where is all this money coming from? Why is M2 growing so quickly? Where is all this? And it turns out it it's it's from this kind of stuff. uh the sophisticated financial markets um the basis trades right >> the financialization of the markets right >> leverage on top of leverage on top of leverage right >> now >> if I remember correctly Sam Bakeman Freed uh he operated out of the Cayman's didn't he >> yes I believe so >> yeah so there must be a reason to operate there >> kind of a wild west >> sorry I couldn't help it >> but but the point here is Paul this is all fun and games on the way up All right. So, we see all these spiking thises and that,s, right? Stock market, money floods, you know, printing, liquidity, basis trades, trillions. It's all fun until it turns course on you.

[00:24:51]And when it does, it actually is just as much unfun in reverse as it was fun in the way up, you know? It's just this is sewing the seeds for for pretty pretty intense destruction. What's fascinating is watching how this all turned around in 2022 here. Yeah, >> that's somebody got freaked out and did a little something something behind the scenes and we we just watched an unbelievable flood of money come into everything >> since then.

[00:25:19]>> And you can see it the inflationary pressures, the asset price movements. I mean, you can see it across the board even with the underlying economic data starting to creek and pop as you've said or or deteriorate, but yet the headline seems to be operating just fine. And so this big ball of money keeps finding its way into areas that that help, you know, kind of fog the reality of what's taking place for the average individual who's doesn't have somebody that's warning them or they're just not paying attention because they're living their lives and they're trusting what they've been told is operating the way it should.

[00:25:54]>> So for me to answer the question then is this time different? I have to believe that somehow the the money masters have figured out this infinite money glitch and they're they found an easy way to just keep more and more money flowing into the system. Now they do that Paul and you know this and I know this because we don't live in these uh in that tiny bubble that these people inhabit. these policies of theirs keep things limping along by appearances, but every sing this is a conversation I have all the time, Paul.

[00:26:26]Like people used to like really struggle at 50,000 family income, then it was 75.

[00:26:32]I can talk to people now who are earning 150 to 200 living in cities and they're they're they're like, Chris, I I'm not living extravagantly. I'm actually living exactly the same as I was 2 years ago, only I could make it two years ago.

[00:26:44]Now I'm barely hanging on, right?

[00:26:46]because all these cost pressures have come up.

[00:26:49]>> That's what this creates for us. That that's this is >> Yep.

[00:26:52]>> an an explicit policy to rob everybody to pay Paul.

[00:26:57]>> And it happens slowly at first. You know, after the 2008 crisis, it started happening slowly, but now we're to the point that they can't hide it anymore, but they're continuing the same policies. And the average person is starting to wake up to the reality of, hey, something doesn't make sense to me right now, you know, and they're they're having to learn really really quickly.

[00:27:15]And once you see it, you cannot unsee it. It's like those fuzzy pictures, right? You know that they used to be years ago at the beach. You cross your eyes just the right way and something would jump out at you.

[00:27:26]>> You know, once you learn how to see that, you can't unsee it on any of those that you come through. And and you know, my question is is what happens when we reach a mass of people realizing what these policies are. How are we going to swing politically? Are we going to swing all the way back to the Mandamis, right?

[00:27:43]Which is not the answer. that's just going to make it worse or or is there going to be some demand of destruction? People just quit trying to play the game in any manner they can.

[00:27:55]But the problem is Chris, this is what we struggle with all the time. I have conversations with people. Well, I had one with somebody yesterday. It's like, I'm terrified of the markets. They're like, we're thrilled returns have been great, you know, for their particular time that we've been working together. I think I can say that. But anyway, um, you know, they're like, "Should I just park it on the sidelines?" I'm like, "No, you you can't, right? You can be neutral, but it's dangerous to choose to be completely bearish and it's just as dangerous to choose to be completely bullish because you got to be adaptive in this environment because we have to play the game by the rules that are forced upon us because we don't have the power to change them. And we've got to play the cards that were dealt as best we can and understand it's not going to be perfect because this is a completely different environment we find ourselves in now than what we've seen, you know, over the past decade really.

[00:28:48]>> Well, um, we've just been trying to unravel the mysteries like where is all this money coming from? And I feel like that picture you talked about is starting to come into focus for me. And it's no one thing. It's not just the Fed printing. It's the basis trades. It's the M2 growth explosion because we're lending to data centers. It's the margin borrowing, but it's everything at once.

[00:29:08]And that makes this an exceptionally difficult, challenging environment because like you say, you can't afford not to play the game because this inflation is going to eat you alive. I deplore that. Forces people to have to take risks, right? You you can't not play the game even if you say, "I'd rather not." Um it's it's they make it all but impossible, right? You know, >> they do. So, >> and I'll add another thing on top of that, Chris, to to the list that you already put out there is the derivatives market. The derivatives market is everywhere now. So, what's happening with these options is options flows are forcing dealers to hedge flows, which is forcing others to hedge flows and it just compounds on top of itself. But the problem is when it turns the other way, whenever that does happen, it's going to create the opposite effect just as powerfully as what we've seen on the top side. And in the background, you know, Mike Green's done a great job of talking about passive investing and how that impacts the market. At some point, the large asset holders of the baby boomers are going to have to start drawing more out and turn into net liquidators. And then that's going to completely change the reaction of the markets. Uh uh from what we've seen here, it'll be the opposite side of the coin. Well, I thought we should discuss the basis trade here so that, you know, maybe we could understand one of the one of the one of the dials that gets turned in this story. It's pretty shocking really to me.

[00:30:29]>> Yeah. For anybody who wants to uh you know manage their money well so they can grow it or figure out how you're going to have some left behind to leave for your for your progyny and offspring uh please come to peakfinancialinvesting.com fill out a very simple form and you will begin the process then of getting on Paul's calendar his schedule or his team to begin to have these conversations. I think this is a a generational regime change. King dollar interest rates reversing this energy shock really big big things happening and of course you need a plan for that. So um I invite everybody again peakfinancialinvesting.com fill out the form get the process started you will not regret it. I pretty much can guarantee that it's a great process.

[00:31:13]>> I I have found it and had feedback that it's very beneficial for people whether we work together or not. Right. My argument is is if we can help better educate you so you know why you own what you own, you know why you need to be allocated of where you are. Jordan Peterson said if you can show somebody the why, they can handle the how.

[00:31:31]>> Well, Paul, thank you for your time today. Have a great weekend and we'll be back next week.

[00:31:36]>> Good to see you, Chris.