Steve Saretsky

It's just I think putting the timing on that can be challenging.

That's not funny at all.

We'll get there.

The mob, the mob is coming.

Oh boy.

Mother of all... We need to think of a better name for that.

That's great.

I mean, again, that was kind of the point that I was going to get to, Keith.

You kind of beat me to it, which is to say, like, governments aren't going to stand by idly and watch their yield curve blow out, you know, and watch sovereign debt markets implode, which is...

I disagree.

Right.

Yes, of course.

This is how quickly they can react.

So you'll have a sort of a temporary spike.

How do they manage it and how quickly can they get it under control is obviously up for debate.

But clearly, they're going to have to do something.

And whether that's QE or some various forms of financial repression, I mean, I argue it's already being done to some degree.

Do you think that –

This is like a bull case to get some form of gold standard back, which is to say, as your government debt issuance market basically blows out, that you have to get some sort of new anchor to come in.

And I'm not saying it's a gold standard again, but for example, there's been a lot of discussions online where you sort of revalue or reprice your central bank gold holdings.