speaking, if any administration were going to go to the populist route of erecting tariffs, this administration would. We touched on something a little bit both directly when I mentioned the carry trade in the dollar and also indirectly in just the conversation itself. It's a risky situation. Although we haven't seen really any panic in markets or in the public domain, we have seen a rise in treasuries. The 10-year yield has dropped down to about 2% now, I think it is, roughly. Gold has been up, but the dollar's been down. The dollar during the same period has dropped roughly 10% of give or take. I don't know where we are now exactly. Treasuries are moving up, but the dollar's going down. That means that there's an outflow of dollars going into something. Dollars are leaving to go somewhere other than the treasury market to account for ... How do we square that circle? How do we square that circle? And where is it going? I think what's going on, some of the move into treasuries has (16/45)
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