IN A TROUBLED WAY

Welcome to Current Yield, Grant's interest rate observer of the air. I am Jim Grant, and with me, unfailingly is the gentleman to my right, the great deputy editor of Grant's, Evan Lorenz. Evan, that's that's you? I hope so. Yeah. And, sitting immediately to my left is Seth Wiseman, who's from the 14th Floor. Thanks for having me. Oh, you're welcome, and I suppose we ought not to assume that everyone knows what the 14th Floor signifies in this context. Well, the 14th Floor is the 14th Floor of 233 Broadway, the grand old Dowager Woolworth Building in Lower Manhattan, nearby City Hall where so many good things happened. And, I'm not saying that we would not have had Seth Wiseman, who was the founder and president of Urban Standard Capital, a fully integrated real estate private equity firm focused on debt and equity investments across The United States. I'm not saying that we would not have Seth on this program except for the fact that he has his office in the same building as we do, but it doesn't hurt the commutation problem. Yeah. I would definitely go more than 10 floors to visit you guys. So yeah. Well, let me say, and, synchronously, we would have walked across the street to get you. Yeah. So, the person who's laughing across the way is Harrison Woodill. He doesn't ordinarily, run the sound engineering department of this organization, but he has proven that he can do anything. So, you know, why not, Harrison? Welcome. Yeah. So, Evan, before we get started into Seth's line of work, tell me if I wasn't correct in my forecast that, that the next four years, I said I said this out loud. November, I said the next four years are going to be good copy. Am I right? Am I or am I wrong? You're wrong. It's great copy. Yeah. It's scarcely started. The inauguration was just, as we're recording, a little over a week ago, and we've already gotten quite a lot of stories. Yes. So we wrote about this week, ladies and gentlemen. I hope that that many of you, are subscribers to this publication. And, those of you not I'll just I'll just give you a faintest little hint of what we're so the pair the issue of grass dated, January 31 leaves with, analysis and a contemplation of the significance of the Donald Trump rug pull of Friday, January 17. That that was the day of the issuance of the, of the dollar sign Trump, this Trump, meme coin, which, at one point, went soon after its launch, went to, was it, like, 30 or $40,000,000,000 notional market cap? I think it actually went to 60. Like, when you look at the market cap on, like, coinmarketcap.com, it'll actually show a lower number than the total dilution. That's because they only show the market cap for the free float, but Trump owns 80% of the the market cap that …