>> absolutely pepc. ever since paul volcker conquered inflation and the 1980's, inflation has come down steadily. >> i do not think he got sick it in time. -- he got to it at the time. >> by the time he left office, he came in with a 13% inflation rate and left with a fourth term -- 4% inflation rate. it came down over eight years. from there, under general greenspan, it came down to about 2% and it has been there ever since. >> i do not think the agency got there. >> it has predicte. >> we will beg to differ there. there are elected government projects on the street to support this borrowing that we are doing. when banks have one of your products to invest verses a small business down the street, they will go to your project. k you argued that -- can you argue to stop these products from being offered? you can get a better return on your money. >> we paid 25 basis points. the existence of the reserves is the counterpart to the purchases of securities that we are doing that is making it easier for borrow