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simply central banks hiking rates short-term rates or lowering them does not in and of itself tighten or loosen money it just changes the price it doesnt have anything to do with tightening or loosening which is about the availability and the presence and the creation of money theyre separate things [Music] because of everything thats gone on e22 and now to 2023 you hear a renewed Mantra crying dont fight the fed and thats easy to understand why I recall that saying which actually in literature does go back into the 19 uh 40s but not very commonly and not very widespread and not very accepted is growing hugely in popularity in the 1960s with the television show led by Louis root Kaiser Wall Street week and the regular appearances on it of Martins wag who was a newsletter writer of some significance and also a money manager not of terribly great significance I dont want to get into criticizing Marty swag uh thats not my purpose here uh hes not been around for a long time but he