➡ The Japanese monetary system is in a precarious state due to high debt and a weak yen. Recently, there’s been a surge in demand for small gold bars, leading to speculation about a potential collapse of the yen. Japan’s extreme implementation of Keynesian economics, characterized by low interest rates and high government debt, has led to inflation and a potential liquidity crunch. This situation is causing concern about the stability of the Japanese economy and its impact on the global financial system.

➡ Despite big losses in the Japanese bond market, there hasn’t been a significant shift of Japanese investors to gold, even though its price is skyrocketing. Surprisingly, Japan has been exporting more gold than it imports, with the source of this gold being unclear. Some theories suggest it could be from recycling electronics and jewelry, or possibly from smuggling due to a 10% consumption tax on gold. The situation is further complicated by the potential for increased inflation under the new prime minister, who supports fiscal stimulus, which could weaken the yen further.

➡ The speaker discusses the ongoing issues in Israel, including a two-year war and the expected aftermath of economic hardship and poverty. They also touch on the power of the fiat system and its potential downfall, hinting at a shift towards silver as a more stable form of currency. The speaker hopes that the end of the fiat system might also mean the end of wars, as they believe wars are funded by the ability to print money. They conclude by expressing hope for the end of the current war and preparing for the challenges ahead.

Foreign. Hey guys, Rafi here from the end game investor. It is Sukkot. I am in my Sukkah. I’m talking with Oren Elabaz aka the Silver Hermit on YouTube. He is the guy that we talked to a few months ago about silver being forcefully mined no matter what the price because it’s a secondary product. I want to get any update that he has on that logic. With today’s silver market, now that we are touching 50, flirting with going over 50, what happens when we get over 50? And then we’re going to talk about Japan’s gold market. There’s a rabbit hole that he discovered there that is a little bit disturbing and I don’t quite understand it, but he did more research on it than me.

So we’re going to talk about silver, then we’re going to talk about gold. Oren Hag Sameach, how are you doing? How are you feeling now that silver is over 50, flirting with 50? Is, is this the end or is this just we’re trying to break through this level and then we’ll get into another world and what happens in that world? Well, first of all, and thank you for having me as always. And no, of course I don’t think that $50 silver and $4,000 gold is the end of this rally. As a matter of fact, I’m, I think that it’s, it could only be the beginning of, of a rally.

Of course we could, we could always have a correction. We could also have some consolidation here. But other than that, I do expect this rally to continue, you know, years into the future. Do you think that if we break decisively above 50 and let’s say we run a bunch of not stop, what’s the opposite of stops? Buy buy stops or buy buy triggers, whatever, you know, we, we could just like break through. If we break through 45 year resistance, we could get to 60 in a matter of days or weeks. And if that happens, then you could have the public waking up.

If the public wakes up and starts to worry, then that’s, that’s the end. Because the reason I’m saying that is that we might be far away from a top in terms of, in terms of numbers, but in terms of time, I don’t know because the way I see it, bank runs happen faster and faster and faster because the ease of moving credit is so exaggerated now. It’s exaggeratedly easy to move any amount of credit anywhere in a second. So you could have a situation theoretically. I’m not predicting this, but if this happened, I wouldn’t be like, oh my gosh, how did that happen? If silver hits like say 50, 60, and then all of a sudden there’s a panic and then it hits like, I don’t know, 400, and then nobody can get any, and then that’s it.

I mean, I’m not saying it’s gonna happen, but I’m saying if it did, I, I would understand why it did happen. In other words, you’re asking whether it’s the end game for the dollar. Yeah, that could be the case. That could very well be the case because we’ve seen each with his own method of, of analysis. We’ve seen how both gold and particularly silver can absolutely go berserk. They have this unlinear, they’re not linear assets and they don’t behave in a normal way like stocks or bonds do. They can simply start running very rapidly. It has happened already, you know, several times in the past.

We could see this happening yet again. And yes, one thing leads to the other. This could eventually topple the entire financial system and also all fiat currencies throughout the world. Okay, and what about your thesis that silver is going to be forcefully mined no matter what the price? Where does that play into this? And given that that’s still the case, and I think we still have to deplete, we have to still deplete some of the silver stockpiles that are above ground in order for that to be, for that factor to be canceled out. Right. If that was your thesis, how far are we from there? How many, how much more silver do we have to burn through? Well, we don’t know the exact numbers, but the thesis was, as you said, that the industry is going to be forced to go on mining silver no matter what until we reach a shortage.

I mean, since it was so un, uneconomical to mine it, you know, because mining companies lost so much money mining it below the, its true value, they lost money over the ages, over the years, and, and so they had no incentive to increase their operations. And this is why we eventually got to a deficit. We’re at the fifth year of a deficit now. And sometime, sometime in the future, this will lead to a shortage, a physical shortage. Now is it, are we there yet? I don’t know. So if you would let me get into the LBMA vaults, for instance, and inspect their, you know, their inventory and start figuring out how much of it belongs to the ETFs and how much of it belongs to private people or foreign governments and, and how much free float do they really have.

I could perhaps tell you if we are at the end game, yes or no, but it appears that we’re getting close to that end game. Right? So then maybe even though the dollar is on a gold standard, not statutorily, but still it is because there’s no other way to have any prices that make any sense that the end game signal could really be in silver and not in gold. I mean what, what it ends up being, I guess we’ll see when it happens it’s going to be of the two, it’s not going to be in Bitcoin.

So either, either silver or gold or both of them are going to go crazy. Which one’s going to go crazy first? I’m not sure now what I. You had said something that about silver backwardation that I have a different view on. And then we’ll get into Japan. What is happening? You spoke about the lbma. So is there a shortage going on in the lbma? It seems that we’re getting pretty close to that because silver in London is more expensive than silver in spot Silver in London is more expensive than future silver in New York. Now I don’t call that backwardation because they’re slightly different, slightly different goods, especially according to Mises who holds that even if it’s the same good, if it’s in a different place, it’s considered in terms of Austrian economic logic, it’s a different good.

So while backwardation would be New York’s New York present silver is more expensive than New York future silver. That would be backwardation. We’re not there yet, but the higher spot goes in London relative to New York. I’d say yeah, that is the signal of the shortage. You don’t have to know how much silver is there because the price is telling you. Now the way I see it, this could really be a problem. If you’re going to get some arbitrage, you’re going to get some profit for people who can ship silver from New York to London. So they would do that if for whatever reason they don’t want to tariffs or whatever they think.

I don’t know what the reason would be that they can’t. But if they can’t or they won’t, then there’s going to be some serious problems and then you would see backwardation in both markets. So we’ll see if New York can ship to London at all or if they can ship enough of it. But now, right now that’s what has to happen. Yes. The one thing I will comment on that is that the difference between the two prices is at an extreme, at least a 30 year extreme. So something is going on. Yeah, yeah. So the way I, the way I explained it is that the, the ETFs, you know, if you want to do a silver squeeze, now would be the time.

All you’d have to do is buy a bunch of SLV which would force London to put a bunch of silver into SLV from its float. And then if they run out, then the, the price of slv, not, not necessarily silver, but SLV would just like spike because they can’t get enough silver in the thing. And then there’s a shortage, and then there’s a shortage of shares and, and then everybody wants the shares and they can’t match with the silver price so it trades at a premium. That’s what would happen if there’s a shortage if you want to.

That is assuming that SLV actually holds the silver that it claims to have. Yeah, yeah, yeah. I’m not insinuating anything, of course. Yeah, yeah. Okay. So if it, if it did, if it does happen, let’s assume it’s a kosher fund in terms of it has all the silver that it says it has. Then you could, you could pull a 21st century version of Hunt Brothers. If, if there’s just a bunch of hedge funds that just bought a bunch of SLV to see if it could stack the silver inside the ETF and you know, would probably happen is that JP Morgan would have to take over stacking silver in, in New York and there is enough there so there’d have to be an emergency like because London can’t do anymore.

So they call J.P. morgan. They’re like, you have to stack it right now or SLV is going to blow up. It would be something like that. So I don’t think it would work, but it would be an interesting experiment. Yeah, well, it’s above my pay grade, you know. Okay, so you wanted to talk about the rabbit hole that you found in Japan and what that means about the Japanese monetary system. Why Japan is the fulcrum. I’d say the, the, the, the, the way that I put it on, on Endgame Investor is that the relationship between the US and Japan is basically the relationship that it’s been keeping the fiat dollar based monetary system alive.

It’s the, it’s, it’s one of the central points. I don’t know. I wouldn’t say it’s the, but it’s one of the big, big joints of the system because America nuked Japan in 1945, twice. And then Japan basically became the dollar’s ever since and it’s, it’s been that way. So they’re, they’re taking Keensianism to the logical extreme. That’s what Japanese people do. They take everything and then they make it really extreme and either like completely perfect, like sushi rolling or that art where they, you know, they take broken teacups and they put like gold glue and then make it really beautiful or everything they do is very exact.

So they’re, they’re taking Keynesianism very exactly here and very extremely so. What’s going on in Japan with gold and what does it mean about their monetary system? Well, it started with, with an item that was released last week on October 3rd. Let me just read it to you real quick. Do you want to share screen. Do you want to share a screen here or just read it? No, I’ll just read it. It’s just a few lines. Largest precious metals retailer in Japan, Tanaka Kiki. Oh, excuse me. Kikin Zoku. Tanaka Kikin Zoku has suspended sales of small gold bars and ingots weighing 20 grams or less due to an unprecedented surge in demand.

According to the press release, a long queue has formed in front of the Ginza main store with a five hour wait to purchase gold. Gold bars of 50 grams or more are still available. Now this is, you know, when you hear such a thing, you start asking yourself, is this the beginning of a gold rush in Japan? Because after all, we know that the Japanese yen has been losing a lot of value. It has been really weak in the past couple of years. And we know that Japan is an absolute basket case. That’s my view at least.

So the question is, are we starting to see some kind of a collapse in the Japanese yen? Are the Japanese people starting to hoard gold and silver and other tangible assets because they are fearful that the yen is going to collapse? So this is the kind of question that you ask yourself. So I started digging and of course, you know, I always had this view that Japan is going to be the first domino to fall. If we look at governments across the world because its debt to GDP was so much higher than any other Western government, their debt to GDP right now is 237%.

It used to be even higher. They claim that it has gone down a bit. I don’t really believe them, but never mind, that’s the official data. Whereas other governments such as the US they’re dead to GDPs of around 100 or a little over 100%. So I was kind of expecting Japan to fall first. So this is why I was, you know, kind of starting to, to dig into the Japanese gold market. And the things that I found out were, you know, kind of surprising because there appears to be some kind of a contradiction there. 2020, 258.4% right now it’s gone down to 236.7%.

But if you max it out, you can see the trend here. Well, we started at, in 1980 it was 50.6%. That’s why I say that the gold and silver spike of 1980 cannot be reversed this time if it happens. If the equivalent of a 1980 spike happened in gold and silver, it can’t be reversed now because back then it could be even Japan was only at 50.6% GD debt to GDP. Now it’s at 235. Right. So also if you look at, if you look at the prices in, where is it inflation rate? Right. If you look at, let’s look at food inflation in Japan, right.

So we’re at, we’re at 7.2%. Right. And if you also, if you max it out, you see what the trends are, we’re still at the, the highest pre. Covid level from 1980 to Covid to COVID lockdowns. We’re still at those levels. And this is food, this is basic necessities. Once these, once these numbers start to go like up here in the 1970s and they’ve been there before, like they’re just, that’s going to be the panic because people are going to want food. So let’s, let’s see, where are we in Japan? Is this the end? What do you think? Well, you know, the thing is about Japan, as you said, they’ve taken to the Keynesian playbook to the extreme.

It began with their real estate bubble. They had a real estate bubble in the late 1980s, between 1986 and 1991. And when that bubble burst, the bank of Japan was the first one to, you know, cut rates practically very low interest rates since 1995. And they were the first to embark on QE money printing. They started that in 2001 before any other Western central bank. So they’re further down the line. I was expecting them to blow up first. So we’ve had all sorts of crazy things happening in, in the Japanese economy. They had extremely low interest rates.

The, the ten year treasury rate was, was yield was kept at practically zero for a number of years. So this, this, that I’m sharing Now is the Nikkei 225, I think it’s called. So the stock market in Japan has been going vertical since March 2025. This is not a good sign. This is because of inflation. Yeah, yeah, yeah. But so has gold. And it would be interesting to see this chart versus gold. I’d have to jigger that up. It would take me a minute. But if we talk about the extremeness of the Japanese Keynesian experiment, you can see it in the money tab over here with the central bank balance sheet.

This, this is what they do. Let’s max this out. Yeah. See, this is, this is, this is nuts. This is. Yeah. And you can see here, look at this. Their, their balance sheet is actually going down now. They’re trying to deflate it. You see the last five years, they’re, they’re speeding up the deflation of the balance sheet, which is going to cause some kind of liquidity crunch in yen. And, but still they’re, they’re their currency. If you look at the yen over here, you have versus the dollar, it’s above 150 again. So it’s, it’s very, very weak.

And if we stretch this out to 50 years, you can see we’re at a high, meaning a low. This is. The higher the number goes, the lower the yen is versus the dollar. A high since 1990, which is the last time the stock market in Japan climaxed. So it’s not, it’s not a good. The bank of Japan currently owns 53% of all JGBs. Yeah. Compared for instance, to 13% of the US debt, which the, the Federal Reserve is holding. So the Japanese central bank is effectively the Japanese bond market. Yep. It is, the fact of the market, it’s completely insane.

And they kept rates very, very low for a long time. And eventually when inflation erupted, as we always expected it to happen, they were caught off guard and, and they were forced to let rates gradually rise. So in order to try to fight that inflation. But that, of course means when you’re coming up from such low rates, that means that there are huge losses for the holders of those JGBs, those government bonds. And I have this example. I checked out etf, which invests in Japanese government bonds. And I’ve, you could see that if you, you’ve lost since 2020, I think you lost almost 20% of, of your investment.

And, and that includes, that includes reinvestment of interest of dividends. So not only did you give up any income that that ETF was supposed to give you, you reinvested that money back into the ETF, you still lost 20%. And that is, of course, considered, you know, the most safest asset that you could possibly own, those government bonds. And of course, that’s the core asset of pension funds and insurance companies. So it’s a huge problem, as though they have entered into this debt trap. Once you let interest rates fall so low, you can’t get out of it later without collapsing your market, what’s the specific thing that you notice in the Japanese gold market that is disturbing you or that you think is really strange? So as there are such huge losses in the Japanese bond market, I was expecting Japanese investors to start shifting capital from the bond market to gold, for instance, perhaps to silver as well, because, you know, that’s, that’s the next best things.

Particularly since the price of gold is absolutely skyrocketing now. It, even if you go and check out in terms of yen, the price is even, you know, more spectacular since the yen has been so weak of late. You can see that as a matter of fact, since 2018, in, in terms of Japanese yen, the price of gold is absolutely gone parabolic. There’s hardly been any, you know, any pullback. Just a bit of consolidation here and there. And it has gone by. It has gone up like fourfold since 2018, even more than that. And I was expecting there to be more demand for gold, so I started checking the import and export figures for Japan.

I was rather surprised to see that in 2024, for instance, Japan imported only four and a half metric tons of gold while exporting 228 tons of gold. And just for a second, if you’re thinking that perhaps Japan is producing a lot of gold itself, digging it out of the ground itself and exporting that gold. No, it’s only, it’s only digging up. It’s only producing 7 tons of gold per year. So where is the gold coming from? Right, so they’re, they’re. Could they just be getting it from their stockpiles that they’ve gathered in the country over the past decades? Is that possible? Yes, that was my first thought.

That Japan is as though hemorrhaging gold. We should point out that Japan does have some refining capacity. It has advanced refineries a bit like in Switzerland, and they have a capacity of about 200 to 250 tons per year. And those refineries are as though, you know, they’re working and they’re exporting precious metals, they’re exporting gold bars. Where is that gold coming from? So officially, officially, it’s coming from a recycling of scrap electronics and jewelry. Oh, do you buy this jewelry? Jewelry sounds jewelry sounds reasonable, at least for some recycling scrap. No, that’s, that would be negligible, I’d think.

Yeah, I think the same is. And we know that recycling electronics is a very expensive, it’s a very difficult process. It’s, it’s not very profitable. So the other, the only other explanation is, is though the Japanese are selling their jewelry. Well perhaps since the, the population in Japan is aging and since there are so many retirees there and perhaps they are forced to sell their jewelry to, to be refined and recycled because they are so poor and they can’t make ends meet. That’s one explanation. Do you know if Japan had, had or I don’t know what culture has left in Japan since this whole QE started and their, the whole country is dying.

They’re on a suicide path because they don’. Produce. But do they. Do you know if their culture includes like an Indian sort of decking out kalas or brides in, in gold or do they, they traditionally save in gold before the 1940s or anything like that? Not to the same extent as it exists in China and in India. I don’t think it exists to the same extent. I do think that households in Japan used to hold gold. What is interesting is I’ve read that the older generation in Japan, they had this very, you know, clever way of using gold.

Whenever the price was rising, they would sell gold into the market and whenever the price was falling, they used to buy. So they used to buy on the dip, which is supposedly, supposedly what you’re supposed to do. And it turns out that, you know, in times in which the price of gold was high, for instance in 2011, they were this hoarding and later after it collapsed in 2013, they started buying a little bit again. But they say that right now in the last couple of years, it’s perhaps starting to change and perhaps it’s coming from the younger generation which is realizing that there is trouble and even though the price of gold is, you know, at an all time high, that perhaps they should own some gold.

But I think, I still think it happens, you know, like at the edges. I think, I don’t think it’s a mainstream phenomenon yet. Now another explanation to what we’re seeing here, to this discrepancy is an interesting thing that I stumbled upon, which is the fact that they have a 10% consumption tax on gold which was first introduced in 1989. Wait, what is, what does that mean. Exactly. Does that. Does. That’s not a. It’s not a. A maam or a value added tax, is it? What is it? I think it’s similar to a value added tax, but they can as though recoup it when they sell that gold.

And. Right. As of 2019, it’s 10%. It’s considerable. On one hand, it’s as though preventing the average person from buying gold because, you know, they have to pay an extra 10% up front. But on the other hand, they have this promise that perhaps they can recoup it once they sell it. And most importantly, this gives a huge incentive for smugglers to bring gold into Japan, as though buy it, for instance, in China, smuggle it into Japan and then sell it and pocket a 10% profit on it. Right, so that would incentivize export or import. Wait, what would that incentivize? I think it would incentivize import, but I think it doesn’t register on the official numbers.

So the interesting thing about this story is that this entire scheme of smuggling gold to Japan could be a lot bigger than they admit, and it could be tons and tons of it entering Japan. And the interesting thing about it, that it does not appear on the official numbers. So perhaps official bodies who are tracking the movement of gold around the world, perhaps they, you know. Okay, so. So your theory is that there, Your theory is that. That Japan is secretly importing a whole bunch of gold or smuggling it in and not reporting it. If Japan is doing it, other countries are doing it too, because gold is money, and that’s just human nature to treat it that way.

Yes, but you would see it particularly in countries where there is a restriction on gold import. Right, okay. What other countries have this restriction, do you know? Because then we can start matching up data. India. India used to have restrictions on the import of gold because there’s such a huge demand for gold in India. And we have seen stories coming out of there, you know, incredible stories about people trying to smuggle in all sorts of ways, which I will, you know, I, I will not divulge the details. They’re too embarrassing. You know, shoving it. Does it involve.

Does it involve digestive systems? It may involve all sorts of. Your digestion. Okay, I need you to put this into your bottom hole. What? Put this into your rectum. It’s not recreational. It’s not meant to be a hobby. Just get it up. I have. Have to sneeze, but I’m terrified that my bowels will evacuate if I do. If you sneeze it is very important that you clench at the same time. Fine. Well, that’s, that’s beautiful. I mean, we don’t want to get to that point, but I mean, it’s better than people starving to death and hyperinflation.

Better that, that the gold should get around in any way that it can. Luckily, you know, gold is hypoallergenic and it doesn’t, it doesn’t diffuse into the system and it’s not poisonous. So there you have that. You know, it’s a good thing that, that arsenic isn’t money or, or lead. That would be bad. I’ll just end by saying that we should continue monitoring the situation in Japan because if my theory is correct and Japan is the first domino to fall in this, you know, a global debt default, sovereign debt, def. Default party that we’re going to eventually have, then a rising demand for gold or shortages, shortages of gold in Japan could be an indication that it’s blowing up, that they are going into a hyperinflation.

Oh, I just want to mention one last thing. There was a, a woman, a politician, which was just, just. Her name is Sanai Takaichi. She was just elected as the new leader of the ruling Liberal Democratic Party, and she’s expected to become Japan’s first female prime minister. Now, why is that interesting? Because she’s a supporter of what we call Abenomics, which is, you know, the, the economic policy of a former prime minister, Abe, and was, you know, it was founded, it was relied on fiscal stimulus. So people in Japan right now are fearful that this fiscal stimulus by the government is going to be renewed and this is going to lead to even more inflation, to further weakening of the yen and perhaps, you know, the acceleration of this entire process.

And as a result, we’ve seen indeed, slight further weakening of the yen. We should continue monitoring the situation. So we have this new prime minister that’s coming in. The media calls her conservative even though she’s really big into money printing. It seems that she’s gonna follow through with that because it doesn’t really. It doesn’t even have anything to do, I don’t think, with the predilections or the preferences of people that say they’re in charge. The whole fiat system is in charge of itself now. It’s got to keep going. It’s got to. It has to finish this process.

So as Nixon said. Nixon, he said himself, we’re all Keynesians now. Yeah, yeah, that’s what happened. They, they took power under Kennedy. Actually, Kennedy was a pretty good President, but I’d say compared to the ones we have now and ones, I mean the ones since to now. But yeah, Keynesians took over under the Kennedy administration and they’re still in charge and they will be in charge until the dollar falls. So I want, I wanted to close this out with just a thought and let you reflect on it. You know, we’re both in Israel. I don’t want to completely ignore what’s going on over here.

Tomorrow the, the hostages should be released. I’m happy about that. But I also know there’s going to be another round of this because they still want to kill us all. And that hasn’t changed. So we’ll see what happens next. But just reflecting from 2020 to now, this, the anniversary of this war was not October 7. It was Shmini Atzeret, which is the last day of Sukkot. The attack happened on Shmini Atzeret. That’s when the hostages were taken. That’s when they will be released, God willing, on Shmini Atzeret. So this was an exactly two year war. And it reminded me of a pasuk in Bereshit in, in Genesis, in, at the beginning of Parashat Miketz, when Joseph is in jail and he’s in Egyptian prison, it says so at the end of two years, exactly from the date that Yosef went into prison, he gets called up to the government to interpret a dream and from there, what does he become? The world’s first silver stacker.

So, and we had a famine. So we, from 2020 we had two years, almost exactly two years of lockdowns. I count that from March 2020 to the end of the, of the mask mandates in Israel, which was March 31, 2022, that was two years. Then we had a little bit of an interim of, I don’t know, judicial reform nonsense, where everybody thought that it was going to change the country, where it’s not going to change anything because the deep state is in charge. Whatever law happens to be, it doesn’t make a difference. But everyone thought it was really important and I guess symbolically it was, but it wasn’t going to change anything.

It’s still not. And then after that we had two years of war. And what comes after that? Two years of famine and silver stacking. So I think that’s what’s coming next after this is done, after this war is done and all the miluimnikim, all the reservists get out of the army and they go back to businesses that no longer exist because we’ve been at war for two years. There’s going to be some serious price inflation here. There’s going to be, I wouldn’t say famine, people starving, but there’s going to be extreme poverty, and that’s what we can look forward to here.

What do you think? Yeah, I agree completely. The only thing I have to say to that is that it was always my assumption, or perhaps my. My hope, that if we manage to squeeze silver and bring an end to this, you know, fiat monetary system, that perhaps it’s also going to bring an end to all the wars across the world. Perhaps that’s kind of naive, but the idea is that, you know, all those wars are eventually fueled by the ability to print money out of nothing and use it, you know, to stack weapons and to instigate conflicts.

And if people are hungry and you just can’t just, you know, print money and use it to feed them, and you need actual gold or actual silver, and perhaps the appetite for war is a lot. You have a lot less appetite for war. We’re headed into the unpleasantness of this monetary system. It’s coming. I think it’s going to be this year tough. SHINPEI VAV Is that where we are? Yeah. 5786. We’ll see how we handle it. But I think we’re going to have to be responsible for a lot of people who are going to come to us for help, because they know that we are.

They know that we have silver. We don’t hide it. And that’s just our job. So hopefully I’ve lost it all in an unfortunate boating accident. I don’t know about you. I did, too. Anyway, hopefully the war ends tomorrow, this round of it, and we get a little bit of a break, but we’re gonna have to fight again. And. And yeah, just. Good luck with the end game. Thank you for having me. Pleasure to talk to you, as always. You too. I’m gonna clench and sneeze. Listen to me. I’m a clench and sneeze. Don’t close your eyes.

It’s impossible to sneeze if your eyes are open. Open your eyes. You’re being selfish. Is it still in? I think I broke a ribbon.
[tr:tra].

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