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our central bank is in the market constantly and almost daily adjusting the amount of cash in the marketplace and as you might know cash is measured by monetary measurement called m1 m1 is the amount of cash in circulation and this is something that the Fed looks at monitors on almost a daily basis and the way they facilitate the fine-tuning of cash in the marketplace is in a product called repo which is well illustrated on one of the slides in your presentation here if we look at the repo slide what Im highlighting here is a traditional repo transaction now just to take a step back for a moment it is estimated that the repo market is the largest trading market in the world then on a daily basis there is approximately six trillion dollars a day trading in the repo market this market is huge and I would add then that most people outside our industry dont understand repo and it is critical to our industry so replicating briefly what you have on the slide in front of you all right let