So there's I wanted to talk about a paper.

It's called the symmetry and simplicity of the laws of physics on the Higgs Bos on which isn't a particularly catchy title.

What, while the same is doing a modest dinner?

Is a big shot right out of state it.

Germany doesn't do this sort of thing, which is, you know, talking about almost like an outreach paper.

He's describing the fundamental laws of physics gauge symmetry, a spontaneous symmetry breaking the way the Higgs works on.

He's done it, using an analogy of economics.

So what's his economic analogy then, for to describe a list, understand really fundamental physics, the standard model just from economics?

And that's always belittling economics.

It's Ah, it's really simple.

What meld of saying it starts with the stars by trying to explain gauge symmetry.

And he talks about three years bunch of countries.

I want you to imagine three countries, so one could be the UK Maybe the U.

S.

Ray, Do you want me to make the other one Australia, don't you?

But I'm not going to I'm gonna make it Spain, because I'm half Spanish.

Okay, so you've done excellent.

Excellent maps There, there, there, there is a sort of nicely placed, actually cutting the orientated right.

Anyway, so you got these three countries, and I want you to imagine bridges between the countries.

On each bridge there is a bank.

Now, each bank can, you know, send in exchange rate between the current sheets.

As you cross the cross between the two countries, draw their backs, you could draw me through a little bit.

Okay, let's try the bank, put bank on it.

And after two or three banks about bank on this one because it's going to Spain.

And this one's called bank as well.

Right.

Okay, so there's these bankers banks on every bridge.

You can change money at these banks now.

The banks set the exchange rate.

They don't make money than that.

There are not in it to make money.

So the exchange rate works the same both ways.

So, for example, on the e u k u s border, you've got maybe £1 to say, let's say $3.

Generous, exchanging.

There's no charge.

Any commission either.

So was it just to emphasize if you if you went with a pound that way, you'd get $3 became went for $3.

This way you get a pound back.

There's no money making by the banks here, you know, Maybe £1.22 euros.

OK, on here We've got Say, let's say a dollar to euro, Just a simplicity.

Let's just start with this tonight.

Now you can ask yourself, Can I make money?

So you think of a speculator kind of speculated Make money on and you can eat it immediately.

See that you can write just by going around.

Going around the country is in the right order.

So, for example, you start with two euros.

Here in Spain, you go to England, it turns into a pound.

You don't go to America.

It sends into $3 then you come back to Spain again and it's now three euros.

So you made a euro.

Okay, so you can see So So what?

You're matches.

There are speculators and then they go around.

In this case, they want to go around in that direction.

So this in a way what what what Her mouth Sena says.

This is like says the speculators are like electrons charged particles, and they're going around in this sort of the electromagnetic field, which is settled by the banks through their exchange rates.

Okay, so the exchange rate set up the electromagnetic field on the electron or the speculators move around in it.

This explains this process.

And of course, if I change the exchange rates, it changes how the electricity of the speculators will move.

Okay, so they might go in a different direction.

They may not move it all if I made it so that so that all the exchange rates were 1 to 1.

Okay, there's gonna be no movement of speculators.

So that this is sort of explains that the electrodynamics that the nice thing about it as well is that mother saying Iraqis that if the banks don't want to run our money Okay, if I had this settled forever, eventually speculators would go round and round and round and round, and eventually the banks would run out of money.

So he says the banks don't want to do that.

So what they do is they can change their exchange rates so they protect themselves from this.

And if you work out this actual, the equations that govern nuts It turns out that they're the same as Maxwell's equations that describe electromagnetism.

It's kind of beautiful, right?

So you really do have electric moment is going on here.

Speculators, you said, are electrons.

What other banks?

The banks are like the gauge field.

They're just they're they're sort of electromagnetic field.

If you like.

In this scenario, does not be electromagnetic field.

It could be associated with the weak force.

For example, what's an example of a transaction where electrons are making money in nature?

Well, that's where they're interacting with the electromagnetic field.

So that would be precisely that.

So they're moving in the electromagnetic field because essentially, in this scenario, it's like moving through the banks.

Make a morning along the way.

In the analogy.

What is money in the analogy?

Where are now?

That's a good that's good.

We are gonna come to that so money, in a way is a little bit like energy here.

At least, the money that you gain is a little bit like energy.

That's what Marta Senior argues, so that's kind of in a sense, this brings us to will content that important point in a moment.

One more question in the analogy.

What countries points in space, that's important as well.

Okay, so each point in space is a country here.

Okay, so you're literally moving around space here, So But what's an important aspect of this is that any given country is free to change its currency.

Okay, So, for example, the guys in America could change.

Make your half the value of the dollar if they wanted to.

On all that would mean is the banks would just change what they meant by a dollar in their exchange rate.

It wouldn't change how the speculators moved in, how they could make money.

And it's the same that's gave symmetry in physics.

The other important aspect of this scenario is the M.

They're Suppose they are all one toe one exchange rates.

Okay, so now we know that we're calling this like the vacuum configuration.

Okay?

Because the electrons don't move in this because the speculators don't move.

There's no risk of this.

Fields don't make anything happen.

The banks are making anything up.

There's no movement of the speculators.

There is an interesting aspect of this, which is important.

Let's suppose that all exchange rates in the moment and I want a one.

Okay.

So electrons don't want to move around, can I?

Kind of.

But what can I maintain that situation by changing exchange rates in one of the monks?

So let's suppose that this guy here changes $1.2 euros.

Can I maintain the scenario of, say, no movement of speculators?

Well, you can, because this bank can respond and changing the value of its euro.

Okay, so if you double of your exchange rate of yours here and just double it here, it's still at and no movement situation.

You can't make money in this, you know?

And that's an important distinction.

Okay, that's so what's that saying?

Is it costs?

No, not it doesn't cost the banks anything to change the exchange rate.

Okay.

It's costing an addict costing no energy to sort of to the field here on this is this is analogous to a massless particle.

So the gauge fields are behaving like massless particles.

It cost them no energy to change the exchange rates.

Okay, now, what happens when you throw the higgs?

It now the higgs doesn't doesn't mean we don't use the Higgs Thio give Master the to the particles in the electromagnetic field.

It's done with the weak force.

And W and Zac Posen is those kinds of things.

But you can still think about this kind of scenario on S.

So what?

What is the hicks?

Well, the Higgs is gold, so all exchange rate.

So let's say they're all once the one No.

One.

He could be made by speculators in this scenario.

But now I had some gold to the game.

Let's suppose there's some the price of gold in the UK.

I have no idea if this is a sensible price.

One kilogram is £1 million.

Okay?

No, in the U.

S.

One kilogram of gold is where $2 million.

So all the exchange rates are one.

So what?

Can you make money now?

Previously you couldn't until I introduce the gold.

You couldn't make money.

Now you can make money.

It's very easy to see how to make money.

In this note.

You just start off.

You buy some gold in England with your £1,000,000 you got £1,000,000 of your bison golden in your £1,000,000 You Then go Thio America, You turned that into you Go sell your gold in America for $2 million and then you go back to the one that it's heads into £2 million.

He made a 1,000,000 quid.

Okay, so you can see that suddenly the situation has changed again.

Okay, so suddenly this gold ist has changed the picture.

There's another thing that issue is Is that in a sense, the what's important here is the price of God.

You could redefine the currency in any given country so that the price of gold is always one million.

Okay, let's start is replaced.

We do that.

Okay, so his price of gold is always a 1,000,000 so now we're going to redefine it.

The dollar.

So a new dollar Okay, instead of being at the new dollar, is gonna be instead of being too many dollars for a kilogram of gold.

Might have put a pound sign out front that said of $2 billion for a kilogram, it's gonna be in, said it's gonna be one million new dollars.

Okay, put it on him from time it Okay.

Okay.

And it's telling £1,000,000.

But now the banks have to respond to that.

Okay, So they have to Harv the number of dollars in their exchange rates.

So it's now 1 to 2.

So we just draw it aside here probably easier.

And this is now 12 a half after one once the one.

Okay, In response to that, the fact that the price eat each country's change its currency to the price of gold is always a 1,000,000.

So now you can see you can see that you can make money through the exchange rate.

But suppose you now had a scenario where all exchange rates will want a one.

The price of gold is one everywhere one million everywhere.

All exchange rates are wants one.

Now that's a scenario where you can't make money.

Price of gold's fixed everywhere as one million exchange rates are all one toe.

One can't make money in that scenario now, before and we said that a bank could change this exchange rate.

Okay, another banks could respond, and you could still have a scenario where you can't make money.

So there's no costume, no cost of the banks.

However, now when the gold comes into play, if one fact wants to change his exchange rate, another bank can't respond to that in such a way as to guarantee there's no money making because you could always pass between those two countries for which the first bunk chases exchange rate.

And then you can make money.

Karen, go carrying gold in your pocket.

Exactly.

Said this is now.

So what?

So this is fundamentally different.

So what's happened?

It's now become impossible for the banks to change their exchange rates and maintain the status quo of no morning making its cost them energy.

What this means is is the This is analogous to the gauge field having gained mass, having gained energy, okay, it costs them.

It costs them to a chase exchange it now cost them okay, just as it cost you to move a massive particle.

It's kind of analogy.

So this is this is the standard model in action.

This is exactly how it works.

So that adding the gold brakes essentially gives mass to these to these two.

This gauge field, essentially, what is doing is giving Master the max is making it harder for the banks so they can't just play around with the exchange rates now in such a way that they can guarantee that the speculators don't make money.

That can't happen now.

One guy changed the exchange rate.

They're not say you could make money.

There is one final final twist of it is Where's where's the Higgs particle in this story?

Okay, so the Higgs particle to see the Higgs particle.