relationships breaking down? Well, the global monetary system was breaking down. All the imbalances up until that point, as kind of forecast by Robert Triffin, were all beginning to break down. And none of it should be a surprise. So I don't think any of this should be a surprise. Of course, the real problem is that when old relationships break down, it's incredibly difficult to work out what the new relationships will be. And I think the real problem here is that we have lots of machines managing money. And those machines are using the relationships over the last 30 to 40 years, which is that old system. So you get really, really high volatility. If you've programmed machines to trade off 40 years of data on the belief that that's the long term, well, it wasn't the long term. It was one form of monetary system that comes to an end. And they kind of do come to an end every 30 or 40 years. And I'm saying, you know, we've already said, you know, we lost the Bretton Woods 71. Do you know (27/99)
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