Hello, fellow, Rebel Capital, so if you're well, so unfortunately, the derivatives market,

the one, probably two quadrillion dollar derivative market is starting to show some cracks.

So this is something we've got to be aware of.

What I'm referring to specifically are negative interest rate swap spreads or when swap spreads,

interest rate swap spreads go negative.

It's a better way of saying it.

So let's go into what's happening here. The BIS is starting to talk about this.

Snyder's been talking about this for a long time. But the BIS just came out with a report

and we're going to look at what they are saying and I'm going to show you why it's completely

bogus. And then I'm going to connect the dots for you and tell you why this is actually a really big problem that we need to be aware of.

So you guys know the systemic risk with derivatives.

I don't need to explain that one to you.

So let's start by going over to, yeah, let's go over to my

Twitter feed. And this is the actual tweet from the BIS yesterday. And they say negative swap

spreads may signal high premium for government or holding government debt. Okay, that's their first

fail right there. Because what they're

not doing is using common sense. And you've just got to say, look, it's a spread, right? What do they?

Well, I don't get too frustrated down because I don't want to go down that rabbit hole or go off on that

tangent. We'll come back to that in a moment.

But you just have to realize that they don't care about, you know, how much issuance is going

to happen in the future.

That's not what an interest.

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