Jim Rickards

It'll be the fall of a city called Pokrovsk.

Now, Pokrovsk is a medium-sized city.

It's not the biggest city in eastern Ukraine, but it is a major logistics hub.

Rail, highway, supply depots, et cetera, that Ukraine uses to basically supply their entire

from Ukraine's point of view, the Eastern Front and the line of contact.

So when that falls in, and people say, yeah, it's a stalemate.

It's not a stalemate.

The Russians are very methodical.

They've spent a year surrounding it, taking every village all the way around it.

So there's no way in and no way out.

And then they go in for the kill.

They'll give them a chance to surrender.

But Zelensky says, you've got to fight to the death.

And the Russians are like, OK, bring it on.

And so, but that, when that city falls and that's getting set up, the other big battles, you know,

And Mariupol in 2022, Bakhmut in 2023, Abdevga in 2024.

Here we are in 2025.

It's going to be the battle of Pokrovsk.

So that'll be the wake-up call.

Hey, Steve, if I could just drop a quick footnote on the Fed situation.