milieu with because jim grant has been a very popular guest on this show so we're very lucky to have mr mckay and of it's in our new york studio today so first thank you so much for being on the show welcome to capital account thank you very much for having me lauren absolutely so let's first touch on this library scandal because today we heard from u.k. regulator from the bank of england mr tucker what do you think this attempted manipulation means more broadly about the manipulation of price signals going on in the financial system these days. well aside from all the potential issues of dust certainly rigging that's going on in the financial system and a complete lack of integrity the really important fundamentally important thing is that price signals of the lifeblood of the free market economies they send signals to investors whether something is perceived to be risky or not essentially these are canaries in the coal mine what we're learning now is that the canaries are being muzzled and that creates a situation where investors can be surprised or maybe surprised by lightning events in th