you know, breakfast club, all the john hughes movies, but somehow this one missed. and it missed for you ooh ooh the, right? rachel: i actually never saw it. i saw parts of it, not all of it, then i asked, should i watch it? you said, eh. will: i m not sure it s iconic other than the fact rachel: you know what he hasn t seen? is he hasn t seen say anything, and that one does hold the test of time. will: kuhn what it is? pete: nope. st. elmo s fire, is the song about movie or the movie about the song? rachel: i think the song is about the movie. will: yeah, i think that s right. pete: i don t know. i like the song will: say anything, i ve not seen it either, but you ve seen john cusack in that trench coat holding the box above his head? rachel: and is he s plague in your eyes in your eyes you know that song, in your eyes? he probably doesn t know that pete: in your eyes. [laughter] pete: yeah. it s a good song. rachel: the producers are, like, move on. [laughter]
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will: so really quickly, john, you don t think yuan will become the world s come significant currently or replace the dollar, but at the beginning of our conversation you did say you think it s inevitable that we will continue to the lose market share, so what do you see? a fractured global market of currencies? that s right. i think we re returning to a so the a sort of cold war basis where you have different blocs of, economies in different blocs of currencies. but we are trying to have a smaller trade deficit with china. that s one of the explicit goals of the united states policy right now. if that happens, the trade deficit is what gives china so many dollars. that s why hay buy so many treasuries. as we try to cut down on that trade deficit, china naturally will have fewer dollars which will mean that they need to move into a non-dollar-based system so in this will benefit us as well as part of our policy. it hasn t been necessarily great for the u.s. economy, to have