 So what do we do? What do we do about Millet? I mean, this is, so Millet ran on a very, very radical, very, very radical economic agenda. He ran an economic agenda that included the shutting down of the central bank, the dollarization of the entire economy, the shutting down of most government ministries and the slashing, dramatic slashing of government spending, the reduction of capital, the elimination of capital controls, demolition, elimination of restrictions on importation and exports, and all of that. Now, that is a difficult agenda to pass. This is not going to be easy. And there is going to be pain. There is literally going to be pain. Before you can rise, there will be a decline. Just dollarization. If you dollarize tomorrow, initially, Argentinians would all be poorer, because the passer would have to adjust to its real value versus the dollar, which is a lot less than what it is right now. They would have a lot fewer dollars than they think they do. It is interesting. And I don't know if you know this. Argentinians have more cash, dollars and cash, than any country in the world outside the United States. Argentinians as individuals have more cash, literally cash dollars, than any place outside of the United States. And indeed, per capita, they have more cash than Americans do, on average, for an average person. But the government has no dollars. So how do you dollarize? You have to convert the pesos into dollars. But for that, you need dollars. For that, you need to borrow money, because you don't have them. Who's going to lend you the dollars to be able to dollarize your economy? It's not clear there's anybody out there willing to do that. As it is, Argentina owns tens of billions of dollars in dollar-denominated debt to the IMF and to other debt holders, which it cannot pay. So how's it going to get the dollars to dollarize its economy? So everything we lay wants to do, cut government spending, cut the bureaucracy. OK, that's great. Let's say you fire 50% of all the people who work for the government, which I am 100% for. You have to realize that suddenly you've got hundreds of thousands of people, and it is hundreds of thousands, who have no employment. Because it's not like the Argentine economy is creating jobs. So the sequence in which you do this is super important. The sequence in which you liberalize your economy is super important. What you liberalize first, what you liberalize last, who you let go of first, who you let go of last, when you dollarize. How do you get enough dollars to dollarize? All of this is crucial and super difficult, super complicated, and the reality is that it will result in economic pain for Argentinians when they start it. There's just no way around that. Which means you need to have strong leadership that is willing to tell Argentinians what's happening, why it's happening, what the pain they're feeling is from, why they're going to recover, and things are going to get much, much better once they do recover. All right. Now, Mila knows this. So one of the things he is doing is he is teaming up with the center right in Argentina, represented by Macri, who was the president six years ago, whatever, five years ago, who was a complete failure, but was a center right president. Everybody was very excited when he got elected, because he was a fan of the fountain head. He had read the fountain head. He was a big fan. He was going to change Argentina completely, and then he didn't. All right. So Big Ed says he's shutting down the central bank and allowing free currency use over and over. He said this. No, he's not. He's not even going to do that. He's not going to dollarize, and he's not even going to do that. We're going to get to that in a minute. There's no way. There has to be a currency that is used to paying taxes. The government will still be a mass of economic power. If he does anything, he will dollarize. There's no question about that. It's what he's actually said. And he will allow other currencies in the economy, you know, whatever the market wants. But he will take all the pesos that exist today and convert them into dollars first. That was the plan that's always been the plan. But maybe it's not anymore. Because what should worry all of us is that Macri is marginalizing the key economists that were his advisors during the campaign. He's marginalizing the people who are the real radicals who really want to bring about a free market in Argentina. He's marginalizing his dollarization guru, the guy who wants to close down the central bank and to dollarize the economy, who is Emilio Ocampo. Basically, this morning, he distanced himself from Emilio. And then another major economic force in his campaign that was for these big moves towards liberalizing the economy, Carlos Rodriguez, announced on Twitter this morning that he was departing the Milet program. Of course, they're expecting to convert pesos. I mean, Milet himself said that he was looking somebody to lend him enough money so he could do it. God, you know, the Batarians have no conception of what economics is really about and how economics actually works, or what these people say. They read into it, what they want to read into it. In their place, Milet has created an economic team to lead the transition, and then once he becomes president, the economic team is going to be led by Luis Caputo and Damien Riedel, who are two former Wall Street veterans. That's not a good sign. And they both, this is a worse sign, held key post during Macri's presidency from 2015 to 2019, which was an unmitigated disaster. Unmitigated, I just have to comment on this because Big Ed, again, is being ridiculous. He says there are no pesos. Election day, the supermarkets were full of people getting rid of their pesos. Yeah, so now who has the pesos? The supermarket company has the pesos. Not the government. The supermarket company has the pesos. And what are they going to do with those pesos? He's just going to wipe them out and make them zero, make them worth nothing? Of course not. Those pesos, for whatever they are, will be exchanged to something if they do away with the central bank. But if this story is true, that Millet has replaced his radical economic advisors with Caputo and Riedel, then there will be no dollarization and there will be no closing of the central bank. None of that will actually happen. In addition, as part of moving to the center and away from radicalism, he is appointing Patricia Bullrich, who was his, I think, was his opponent in the election, early around of the election, who heads up the center-right political party and was, again, in the Macri government. She will now be the security minister in this new government. But if they purchase dollars with all their pesos, then that is exactly what dollarization means. And when the government says we will now accept taxes in dollars, that's what dollarization means. The question is, are there enough dollars in the black market in Argentina to replace all those pesos? And who's going to take the pesos from them? So if I'm in the black market and you're offering me pesos for the dollar, what am I going to do with the pesos? At the end of the day, the pesos have to go to the government. They have to land up somewhere. And the government has to exchange those pesos into dollars. That's exactly what official dollarization looks like. People are already doing that. But at the end of the day, pesos have to disappear. I mean, God, this is not that hard, Brigitte. Do the chain, the chain of where the pesos land up. The pesos have to land up in the government and the government has to exchange them for dollars. Otherwise, none of this works. But again, even that doesn't look like it's going to happen. So what we've got is the fear that in Argentina, instead of to get a real economic revolution, we'll get another, you know, moderate, fearful, half-assed economic reforms. Now, Milés seems to be the kind of character with a passion and with, you know, is in everything else. He seems to be committed to this cause. So let's see how committed he really is. But the next few weeks are going to be very indicative. And the first steps do not look good in terms of just the people he's bringing in seem to be conventional people.