Michael Nadeau

So, you know, I think.

I think this is an interesting moment here.

So Kevin Warsh, he's 55 years old or so.

He's a little bit younger.

He has served as a governor on the Federal Reserve Board.

He did so when he was 35 years old.

He was the youngest to ever sit as a Fed governor.

He has been an advisor to the White House in the past.

He works with Stanley Druckenmiller at his family office currently, and he teaches at Stanford.

The reason I think the markets sort of sold off when he was announced on Friday last week, and gold and silver in particular really sold off,

The stock market, I think, was down.

Maybe we should double check this, but I think the stock market was down a little bit.

Nothing, not a huge, huge sell off.

But I think the markets were immediately trying to process, you know, what does this mean?

And, you know, the narrative that's been in the market is that this new Fed president was just going to be

fully aligned with Trump.

And, you know, he would just come in and cut rates to zero.

And, you know, we would see how the market processes that.

I think that what we're learning more about with Kevin Warsh and the potential policies that he is aligned with Trump on, you know, I think that he is aligned on this idea of bringing rates down, but he's also talking about reducing the size of the balance sheet.

And so how do you reduce the size of the balance sheet?