Thank you very much, Mr. Chairman.
Thank you for your answer. By the way, I'm glad you said that you're not trying to time the market. We didn't hire you as a day trader. We hired you because we know you have the brainpower to find good value and invest for the long run. That appears to be what you're doing.
I want to ask about interest rates. You're not a fortune teller, but you do understand finance better than almost anyone. I want to ask whether or not you worry that in two or three years, this extraordinary amount of new money pouring into our system could lead to inflation. I know that everybody claims the short-term problem is deflation, but I am talking about the medium term. All of this money is going to stay sloshing around in the economies of the world. If it does, then inflation will result and interest rates will have to go up to contain that problem.
First of all, do you agree with that? Second of all, how sensitive is the $409 billion you've invested on our behalf to future increases in interest rates?