what are those? >> well, freedom force international is a group, an organization. it is international. it is a group of people that want to bring about positive change. and they have a plan to do it. they're not just a bunch of complainers. they have a plan to do it, and that plan is to kind of reverse the process by which we feel we have lost our liberties and our control over our system. there are people who really have a lot to gain from the present political and banking system. they have a lot to gain. they have gained a lot already. they're very wealthy. a lot of political power, as they have acquired the power by gradually moving into what they call the power centers fell of society. and at the top they know that people follow groups. the move in groups, and so they figure if they can just get control of the leaders of important groups like political parties in the for example,

labor unions, media outlets, then only a few people can lead the many. that is how we have lost our control of the system, because these power centers have been in the hands of people who want the system to look exactly like what it does look like today. except my plan is to reverse that. we're bringing people together into a network and helping each other to move back into the power centers and reclaim authority and influence. that is free to enforce international. >> the commercial site where we sell things to read books fan recordings and video documentaries. lisa of explain and we do this. >> and the website. thirty-two printings, five editions of the creature of jekyll island. how many of the city's old? >> i think it is approaching about a half a million now. >> c. edward griffin has been

our guest. >> coming up from the annual libertarian conference freedom fest when the mcelroy touch with book tv about her book of essays , the art of being free to all politics verses the every man and woman. this is just under 15 minutes. >> and here on book tv on c-span2, we continue our coverage of c-span 2012 from las vegas. the libertarian gathering that is held annually out in this city, and we have been talking with several different authors. you want to introduce you to another of the right now, and it is windy mcelroy his book is called the art of being free, politics verses the everyman and woman. wendy, first of all, tell us about yourself. >> well, i am an individualist. very active in libertarianism

for about 40 years now since i have been running since i was 15 years old. this book is my reaction to september 11th basically. when september 11th happens i started to rethink everything about libertarianism in everything about my belief system. a wondered if i had wasted my life because i saw a police state a rise so quickly and so effortlessly. no one resisted it. it seemed like america gave upon freedom all at one moment. and i did a lot of thinking about my relationship to the state, what the state was, how important it was to my life in hell the main thing that there's a possibility of life, if you want, is what henry david thoreau used to call the business of living.

as a result of a rowboat, the art of being free that gave the theory, the history, and that psychology, if you would behind my response to that whole system of thinking after september september 11th. well, basically and tired. debating the abstraction, and i am not disrespecting anyone who wants to debate liberty. i just want to be free. i want to know how to be free in my own lifetime, especially given the rise of what i consider the police state. >> and what do you change in your thinking after september september 11th? what did you find about here previous thinking, concrete examples. >> country examples. one's attitude toward the state, if you want, what is best expressed by david friedman one

time, and this is, if you translated into english, it went something along the lines of it is raining. you blame everything on the state. you talk and you work against the state. on the other hand, henry david thoreau was pivotal in my thinking. he basically had the idea, the business of living, but he had the idea, he went out at one time, his essay on civil disobedience. he went on to a halen said, he looked around. absolute beauty. here it is. i want to look inside myself and say here there is no state. i try to do that increasingly every day by making sure i

pursue everything from alternate currency, interacting with my neighbors in terms of alternate methods of exchange, privatized -- privatizing my life, taking my life back from the state and privatize me to the extent possible. to not deal with the state can interact with the state, make sure that you make going to businesses that are privatizing government services. to not interact with the state. we are going to end unprecedented time of state control of our lives. all you have to say is no, and i'm not saying that you should say it and martyr yourself or your family. i'm not saying anything like that. that would be reckless. what i'm saying is, to the extent possible privatize your own personal life. >> does that mean you're living off of the great? does that mean you're not flying on their plans because of tsa

and all of the different regulations? of those the types of things you're not doing any more? >> i'm here. i cannot tell anyone what to do and now lives. i'm not trying to. what i'm saying is that to the extent possible use alternative currency. use the grain market. this book, and i don't mean to misrepresented because it is not -- it is more theoretical and historical. the background and underpinning of everything and saying, i'm actually writing another book right now that will be more of a how-to. the whole idea that people have said -- this is basically psychologically preparing people for the fact that they are living in a police state. they are now -- we are not coming to a police state.

we are living in it. you must ask yourself a lot of questions and prepare yourself. how far you going? what are you going to do if the situation comes up? being free is no longer something that you can take for granted. it is something that you're going to have to develop, the art of being free. >> who is baby chadwick? >> a man who was in jail for many, many years, even though he had committed no crime. he had been convicted of nothing. but it was was it was an imprisonment to test civic content. so many people are not aware of the complexities that have developed in the american court system. the american family court system, you, you go in and you

are divorcing your wife. your wife alleges that you have hidden assets. the judge says, yes, i think he does come even though it is not proven. went to jail for something like ten, 12 years because he basically refused to turn over records to a judge. that is a civil contempt. and the damnable thing is you can be imprisoned for far longer on civil contempt charge that criminal one because civic content, you don't have the right to appeal. you don't have the right to have a judge -- to have a lawyer. you don't have any rights they you would have been a criminal case. so of the -- so there are many situations in the system that people are unaware of that happen to average people like you and me.

>> is it just the state that concerns you? what about in today's world corporations, surging and the internet or use credit cards in our behavior is being tracked. use of funds. all that information is out there. >> i am, of course, concerned with the ordinary citizen being a criminal, which is what you're talking about. if you're saying i am concerned with corporations, i have a very hard time during a line between estate in the corporation. i don't think corporations could exist unless they had state privilege, unless they have limited liability, unless they had certification by the state. it sounds like and slamming big business. and not. business should get as big as it possibly can in a free-market contest. that is flourish and prosper. if you are asking about privacy issues, yes.

of course, everyone will go after my data. not in particular, particularly precious, but your data, data. because they can make it. that -- as long as i have the ability to say no, as long as i have the ability to shut the door which the state does not let me do the which i would have the ability to do every market, as long as i'm free to do that it is up to me. responsibility is devolved upon me to slam that door. none of your goddamn business. >> why do you think the post office? >> first of all, it is considered to be a benign institution. at least they perform a service. yes. the service is performed throughout the decade. from the very beginning when it was established after the

founding fathers, the federal, the average federal less were censored. any government agency is going to serve a government purpose beyond the purpose -- purpose that it purports to provide. any government agency. government agencies, privatized. the combat. >> our most libertarians anarchists? you describe yourself as an anarchist libertarian feminists. >> how many labels can i guess? >> anarchists the same? is there a lot of overlap? >> there is a lot of overlap. henry david thoreau sense of the

word. he said the government that governs best is the one that governs least. and the least government, no government. so i have that kind of -- what would be called by some, most libertarians i know, if they were in power and you were able to establish the minimal government that they wanted in power, i would hang up my credentials, go in my backyard, and grow tomatoes for the rest of my life and not go to the grocery store and buy the tomatoes at the state is making me too busy to grow. i would love that. so i don't have much of an argument with most libertarians. i would love to see their government, if they saw their government that would not see me again. >> wendy mcelroy is the author of "the art of being free." in the back of this book is an

invitation. >> the invitation is to a club, something am very excited about. if you go to the site, you will find a community of people. a fledgling community of people like me and jeff tucker who are trying to of find out how to live liberty. we are tired, as i said, about being depressed. we're tired of looking at the state and railing and raising are faced. we will always do it. there will be in justice, and that is a valid response. i cannot help my office from raising in the air, but the fact of the matter is we want to live free and we want to know how to grow tomatoes and liberty. like our neighbors. be valuable members of the community.

to some degree i would rather be a good neighbor and a good libertarian. i don't think there is conflict there, but if i have to choose i would probably choose the good neighbor. >> wendy mcelroy, the author of "the art of being free." you're watching book tv. >> and now from the freedom press -- freedom best, book tv sits down with ceo and chief global strategist of euro pacific capital incorporated and are using is put the real crash that we replace the housing bill will with the government completed bubble that will initially popped and cause another economic collapse. this is about 25 minutes. >> and now joining us on book tv is peter schiff, the author of the real crash, america's coming bankruptcy, how to save yourself and your country. here is the cover of the bush published by st. martin's press. what do you mean when you talk about the government bubble?

>> the government bubble is -- let's go backwards. two big bubbles. we had the stock market bubble because initially a lot of that cheap money that was applied to the economy by the fed went into the stock market into a lot of these crazy stocks. we had a funny economy based on all that stock market wealth. well, that bubble burst. and it was kind of replaced by a larger bubble in real estate in which we then kind of expanded this economy based on all its faults realistic wealth, how people were spending money they did not have, and we had a lot of consumption and employment that was a function of tony wells. well, that bubble burst. now all the cheap money at the fed is creating is going into the government through the bond market. the government is able to borrow enormous amounts of money at all cerullo interest rates. the fed, and now we have an economy that is dependent on all this excess government spending in seed money.

you can see the bubble and priced the bond, but this bubble, dislike the two prior, is going to burst. unfortunately when it does the consequences for the economy are going to be much worse than they were when either the real estate bubble burst or the stock market bubble. >> and, again, that to first bubbles, the so-called private sector bowl, what was the federal government's role in your view in creating those? >> well, they did create them. they supplied all of the year that blew them up. for the stock market bubble if you remember the 1990's when greenspan was fed chairman, every time there was a problem in the world, whether it was asian debt prices, but russian debt prices, bankruptcy of orange county, long term capital management, yankee's. there were all sorts of things that came around. and the market got nervous. stocks started to fall. the fed came to the rescue by printing money.

and it was that cheap money, and by keeping rates too low during the 90's, even though they are higher than they are now, they were still lower than the market would have set them. you have this bubble. when it burst this same bed monetary policy has inflated the stock market bubble. the real estate bubble. that one was worse. not only did the government through the fed supply of cheap funding that made it teaser rates possible, the sub prime lending, the adjustable rate mortgages, there were a function of an amateur policy. you compounded the government era when you had things like fannie mae, freddie mac, the fha putting taxpayer guarantees on mortgages that never would have been originated in a free market because in a free-market people would have been worried about not getting paid back. the government basically told the banks you can lend money to people even though you know they're not point to pay you back because the taxpayer well. so we have this huge bubble based upon the moral hazard and

based on cheap money and, of course, it burst. a lot of people like to blame the market for that. they like to blame wall street. it is not wall street's fall. i am not saying they're completely in a sense. they drank a lot of the alcohol that the fed was pouring, and they acted irresponsibly under the influence of that. you have to look to the source, look at why there are some many people that were so full is simultaneously, not just on wall street. plenty of people on main street were lying about their incomes in buying houses they cannot afford. there were just as strong on the cheap money. unfortunately, instead of learning from mistakes they just keep repeating them on a bigger scale. the bad monetary policies that we have now under bernanke are so much worse than greenspan. we have 0% interest. doing even more damage than the 1 percent that we got at the lows under greenspan, and this government bubble is enormous. and when it pops of the banks that we bailed out, they're

going to fail again, only losses will be bigger. the depositors are probably going to lose to, not just bondholder's commend the government itself might have to fall -- -- default and not pay its debts and not pay 100 percent of the dollar. realistic prices still have a long way to fall when the government bubble pops. the scary part is, this government bubble is so enormous that the government might try to prevent it from popping as long as possible which means we have massive inflation before that happens. and if the government -- if the fed never breaks the bubble we destroy the dollar in of a currency crisis that will be far worse in the financial crisis we would have based on a government default. >> politically can you foresee the government cannot popping that bubble that uc? >> hopefully they will poppet. because not popping is worse. if you try to inflate it as big as it can, it is the dollar that

collapses. what the government wants to do right now is to avert losses. the government does not want, let's say, bondholders to lose their money. the government does not want depositors and financial institutions to lose their money . but they cannot stop the losses. all they can do is change their form. right now what they're going to do is, they're changing it to purchasing power, creating inflation so that you don't lose your money, but your money loses its value instead. nor to do this at some point the money is going to have to lose some much value that we would be better off with a restructuring. i would rather give $0.50 on the dollar then be paid in full but have $0.10 for the purchasing power $0.5 for the purchasing power. >> peter schiff, if you could, custer the timeframe of how you foresee this government bubble bursting and exactly what is going to happen? >> well, it is similar to the government bubble bursting alan greece or maybe that is bursting in spain or other countries in

europe. i mean, think back to what three years ago. lee was just as broca's it yesterday, yet they were able to borrow money, they paid record low interest rates, and everything was fine. well, it wasn't. it was just, the bondholders were asleep. they were oblivious to the financial circumstances of greece. eventually they woke up and demanded a higher rate of interest to compensate for the risk of holding that paper, and now the greek government cannot afford the higher interest rates , and now people realize that so they want their money back. as another is a crisis. well, the only reason that we can service our debt is because the rates are so low. i mean, we cannot repay your debts. that is not even possible. all we can do is service the debt. of course, once our creditors realize that we cannot service the debt, they're going to want their money back, and we cannot pay it back. we can print it, but then it is not going to be worth very much. the key is going to be, whether

creditors going to wake up and demand a rate of return on dollars. because right now rates are zero. because they're is a lot of demand for dollars right now as a safe haven even though the dollar is not a safe haven, we are in worse shape in europe collectively. the 50 u.s. states are in worse shape collectively and the federal government and the eurozone economies are. we might not be in worse shape than greece, but when you take greece, germany, everyone else and put them in one community, we are in worse shape than they are, yet we get the benefit of the dow right now. we are the safe haven, and people think that everything is okay because they know we're not going to default because we can print money. when they realize that printing is worse than defaulting because the potential for losses even greater, then we are going to see a big spike in interest rates and that is when we have our crisis because either the fed allows rates to go up, and he knows how high they might have to go. that's a 10% in order to stop

the implosion of the dollar and put an end to inflation. well, if we have a $20 trillion national debt when that happens, that would require us to show up $2 trillion a year in interest payments. are we going to get that? that is all the tax revenue. >> you mentioned creditors. you are the creditors, especially for the united states right now? >> well, other americans to own treasurys, and there are insurance companies and banks in america who own treasurys. the federal reserve on a lot of treasurys. so we as taxpayers even though we are not buying them with our own money, we're kind of on the hook for them. the fed is the largest buyer. central banks, banks all around the world, china is a huge creditor. we'll them a couple of trillion. via japan over a trillion. companies all over the world, governments are holding on to this debt. the story, i forget where it was run. mentioned that from the peak of the housing bubble until now they said the average american household net worth was down

about 40%. is actually down a lot more than that. when you factor in each household share of the new debt that has been accumulated in their name by the federal government. so americans are basically already broke. that is why i am saying that we have to just admit that we are insolvent because american families cannot repay the money that has been barred in their name. >> we admit we are insolvent. what is the solution? >> once you admit you are insolvent you restructure, just like greece did. initially greece imposed eric at a 50% on bondholders. we have to do something similar. we also have to lincoln maturity into people that have one-year treasury bills that we cannot pay you back in the year. you're going to have to extend the maturity because we cannot pay the money. it is not just our creditors. america has to tell people who are collecting social security right now or who are expecting to collected that they're not plan to get as much money as they were promised. maybe we means tested.

we have to lay of some government workers, cut the pensions of current retired government workers because americans cannot afford to pay the bills. the alternative is not that everybody gets paid but that they get paid money of minimal value. then we have to look at the reason that the economy got so screwed up in the first place and restructure and reform. we need to stop the federal reserve from trying to artificially stimulate the economy. the biggest problem with the u.s. is that interest rates are too low. they have to be much higher so that we have savings. no one is going to save the return is zero, and if there is no saving there is no capitol investment and we cannot grow in the economy, raise living standards and provide productive employment opportunities when we have no savings in capital. so we need higher interest rates, let the chips fall where they make. in any to let insolvent institutions fail. we need to let people who invested in those institutions lose money, and we need to restructure. we need to shrink the government, get rid a lot of the government spending, a lot of

the regulations that have made us uncompetitive and unproductive, and we have to recreate a free-market economy that was the original source of our wealth. >> one of the subchapters in your book is how to end bailouts. >> first have to stop bailing people out, and you have to remove the implicit or explicit guarantee that some institution is too big to fail. you know, capitalism does not work if you take the risk out. people have to be accountable for their actions. people have to weigh risk and reward. if you privatize the profits and socialize the losses you get a disaster. so we need to and that perception once and for all in the capital markets, including a government. if you loan money into an institution, an individual, or sovereign governments, if they cannot pay you back they're going to default to man you're not going to get your money back. we have to price rest into loans, and the few are risky bar

or you have to face a high rate of interest, and it does not just come to banks. we have to end that subsidy for students borrowing money to go to college, individuals borrowing money to buy a house. if you want to buy a house there should be no government guarantee, no bailout for the bank if you don't repay debt markets. therefore the banks will be more screen is when they make a loan. it will make sure the person puts adequate down payment, has the income to repay the loan. right now you have all this moral hazard, and what about even with banks. i don't want the government bailing out a bank account. at one the government insured bank account. if you put your money in the banking better make sure that that bank is safe because if that bank fails to look to the taxpayer to bail you out. once the banks know that their depositors are going to be concerned about solvency, then they're going to act a lot more responsibly as well. right now banks are reckless because the government has told them to be reckless because they have eliminated all the free market regulation that would have prevented them from being reckless and force them to be

responsible with their deposits. >> peter schiff, do you think monetary policy and the building go around it is too complicated for most americans to get excited about? >> well, it is deliberately complicated so you don't understand. the government does not want people to know what they're doing. that is why they came up with the work quantitative easing. what is that? is inflation, printing money. it is monetizing debt. that is what it is. but they don't want us to know that. you know, so they complicated up so that we don't understand what they're doing because inflation is what happens when the government creates -- expands the money supply which is basically all we're doing right now, creating inflation. we need to stop doing that. monetary policy, as i said, is the source of these booms and busts. it is a function of this bad monetary policy, this manipulation. that is why we need to be on a gold standard. if we were on a gold standard we would have discipline, a intrinsic value, and you would

not have all these big macroeconomic imbalances, government debt. the government could not run up this debt if it had to be paid in gold. the government would be much smaller if we had a gold standard. that is what politicians oppose a gold standard because they want to grow and grow endlessly. gold stance in their way. protect individuals from government, from the growth of government, some governments always want to get rid of gold. that is why the founding fathers put us on a gold standard because they knew it would protect our liberties and prevent government from usurping power. >> peter schiff, you mentioned the federal reserve couple of times and stimulating the economies, 0% interest rates, but is in our entire economy based on consumer spending? >> well, not really. it is basin of production going on in other countries. you can only buy something that has been produced. you have to produce a before it can be consumed. the economy is based on production, supply, and that comes from under consumption of savings investment, and right

now what is keeping our funny economy afloat is the fact that the rest of the world is lending us money and supplying as of merchandise. and resources. and this cannot last indefinitely. it is like a ponzi scheme because we cannot pay back all the money that we have barred and eventually our foreign suppliers or foreign creditors are going to figure this out because of command and we just unplug because it does not matter how many things americans wanted, if we don't have anything. you can show up at walmart with all the paper money you want, but if the shelves are empty your just going to go home with what you brought. so this is where we are headed. yes, we have built up this phony economy based on this keynesian myth, the demand and spending. it does not. that is the caboose. the engine is savings in production and that is what we are not doing enough. we have to go back to that. >> peter schiff is the author of the real crash, out to save yourself and your country.

also ceo and chief global strategist at euro pacific capital which is. >> well, that is my brokerage firm. also an asset management company for people who are interested, if they want to use me as a broker we do specialize in international investing and precious-metals. we do domestic as well. we have proprietary funds that i run. we can manage your money on a discretionary basis in a separate account. i also have a precious-metals company in the u.s., europe pacific precious metals for people who want the delivery of bullion. we do that as well. >> also a radio talk-show host. peter schiff show, -- radio. he is the author of two other books, crash proved and crash proved to .0. >> you forgot, i get another one, how in the economy grows and why it crashes which is probably the best book to start with because it is kind of like the fabled. you can read into or three hours. it is quite funny, but it really breaks down economics into its

simplest form, and it is a good primer to really understand the problems with keynesian and the austrian school and even the children can understand the buck. in fact, i voted for the level of a child so that congressman could understand it. >> you also ran for office. >> i did. i ran for senate, did not win. >> as a republican. >> i ran the republican primary, so i never made it out of the primary, but i did respectable for a first-time candidate seeking statewide office. >> would you run again as a republican? >> i might. i have no plans in the immediate future to run for anything, but, you know, i certainly might. >> we are here at freedom pestilence vegas to my libertarian leanings gathering. and this is the theme we have heard from a lot of the authors. you have used the word three or four times. moral moral market, except representative.

what you mean by that? >> well, moral meaning honest, principled, fair, i mean, you know, what would be immoral, theft. i mean, if the government is going tech force me to subsidize some of his loan, bail somebody out, that is not moral. you know, things need to be a honest. i don't want to be obligated to something unless i voluntarily choose to do it, and it is not fair if the government does it. we although individually that if i take money from you against your will it is immoral. that is immoral, but if we involved a third party like government and i convince somebody, i'd vote for somebody to take your money and give it to me, how does that not make it theft? you are not in favor of it. i am taking money against your will. if you don't give it to me they're going to put you in jail so, you know, that is not moral.

capitalism is a moral system based on voluntary exchange. people trade with one another without any coercion from other party. what we have now, unfortunately, involve coercion and is very immoral. >> before we get to our conclusion i want to ask you about one other thing that you wrote your book. americans spend too much time and money on college. fewer kids should go to college. >> absolutely. we have probably the highest percentage of americans with college degrees that we ever had. unfortunately a lot of people with college degrees are waiting tables, driving taxis, working as janitors, working as maids. not everybody needs to go to college. number one, we know that. there are colleges teaching remedial math. i mean, if you can read in demand by the time you graduate high-school you're wasting your time going to college. do something real. the best skills that people acquire are on the job. you can learn from somebody who

is doing something. you can be an apprentice, get a lower paying job and you can acquire skills on the job. right now we have a bubble. talk about bubbles. we have a public education. because the government subsidizes to the loans students are able to borrow a tremendous amounts of money, and so the colleges can keep jacking up tuition every year because they know kids would get the money from the government. unfortunately we have distorted generation of americans because we made them by a tremendous amount of money was there will struggle to repay the liberal arts degrees that have no real relevance and the employment world, and now they're broke. they have learned nothing, squandered five or six years of their lives that could have been used productively to earn money and to acquire skills that would have, you know, provided them with a comfortable living. if you want to be a doctor there are certain things that going to college makes a lot of sense. you need to, but the vast majority of college graduates to jobs that high-school graduates could do.

i mean, people that drop of high-school. so this is all a myth that everybody has to go to college, the solution is to spend more money. it is all a myth because all it does is increase the educational establishment, the universities, colleges, and everybody associated with it. the biggest losers of the kids who squander their youth and don't acquire real skills. they acquire mortgages but no houses, and society. society is poor because we are wasting all these resources. one of the reasons that college graduates graduate into an economy with no jobs is because of the capitol that would have gone to businesses to employ them was directed to universities to educate them instead. they're not really educated. they are more indoctrinated or they just party, and now because money went to universities instead of businesses they graduated cannot get a job. so we are broken as a nation. we have to recognize that and stop wasting all this money, get rid of all these governments to

guaranteed loans. force colleges to compete in a free-market where they have to put the price down and then prices will collapse and only the people who can benefit from a college degree will actually go. people will choose majors that are more likely to enhance their earnings power because, you know, if you want to major in engineering it might be easier for you to get alone in a private sector because they will know you will be allowed to pay it back. go to a bank and say i want to major in comparative philosophy. gridlock because wire you going to -- how are you going to earn any money to pay it back. we need real market discipline, and we need to free up resources. we spend too much on education, to muster health care, too much on housing. we spent too much money on all the things that the government subsidizes and not enough money on all the things the government taxes. >> america's coming bankruptcy, the front of your book. is there a way to prevent this? >> we are already broke. it is just a question of acknowledging it and how we deal with it.

i lay out a plan for dealing with it as productively as possible. it is not painless. we are sick. we need medicine. it does not taste good, but the bulky arrest. because the taste that we refuse to swallow it. just going to get more sick and eventually we're going to have to swallow it and it will taste that much worse because we waited so long and allowed the underlying illness to get worse. ultimately, if we never do the right thing it will be a complete financial meltdown. it will be a currency crisis, bond prices commanded is going to make 2008 look like, you know, a bone, look like this and this school picnic if we don't get our arms around the severity of these problems and recognize that it is not capitalism that cause them, but a lack of capitalism, and we need to get government out of this economy because they screwed it up immeasurably, and we need to get free-market forces back in because we are in a gigantic coal, and we have to get out of it. we're not going to get out of it with government. the only way we get out of it is

with real free-market capitalism we need to case the government back up. enforced those enumerated powers and make the government as small as possible and unleash the entrepreneurial spirit that i know is there because we have seen the work before and america. we are seeing it in other countries. we can unleash that increase the prosperous economy, but the government is not going to give it to less. we have to give it to ourselves. >> we have been talking with peter schiff. "the real crash" is the name of the book. watching book tv on c-span2. >> who would like to hear from you. tweet us your feedback. twitter.com/booktv. >> how old was she when she killed herself? >> she was 26. born in 1900. >> wide chip killers of? l >> she killed herself because oh -- well, what we know is thatwt

she left a suicide note whichat said that she was distraught when her husband's philanderingo so, now was the immediate cause. >> and that was the president's grandfather mother.tanley >> yes. she lived to be 26. liv and because of that dramaticof events he and his older brother, back down. so living with his grandparents. his great-grandfather, a character named christophera columbus clark to have fought in the civil war. >> worded stanley and madeleine, the grandparent's me? >> they met in augusta, which is >> about 12 or 15 miles.r both in butler county, sort of on the way to wichita. that is where matalin grew up.i stan had already been advisedp. cool for several years, matalin was a senior and has cool.seni he was working in the

construction, renovation of an oil plant down there. >> we will was there less like?s >> the left before or after?>> l >> after they married it was sort of, you know, her parents about really like him. as a matter of fact, the first thing that her father said was, you're not burying that what. a he was dark skinned.s an element of racism. she married him secretly beforem she graduated.before she was a very smart young woma who had always been on the honor roll until she met stanley whors was slick hair and slick talking and promised to get her out of arkansas, me out of kansas, i'm sorry., ka, that is what she wanted. she had grown up sort of lovinge betty davis and the sophistication of hollywood.e d here she was stuck in this small town priest and promisedan p

something else. he had already been tothi california and promised to take her back.ak the answer your question, their lives were somewhat unstable. not that their marriage was unstable, but their jobs run stable, never knew where there are going next, and so it was ay rocky road. >> where did the obama clan began? >> the obama clan began actually in sudan several hundred years ago, but i would start -- i start the story in the small village out by lake victoria to the south and east of the majora city in what we call the ibm province. it is a very poor part of kenya. it is where the tribe is basically center to.

the second largest tribe in africa. the large tribe.h and that is read the obama'sut found themselves. >> on the president's paternalm. side, who are his grandparents? >> his grandfather was. [inaudible] born in the late 1800 s and was the first -- in the first wavevt to be westernized. he was coming up to western kenya. so at that point, learned english from the. [inaudible] in other ways became sort of inculcated into the british the culture, the british colony, sor he worked as a chef or cook for many british military people and folks in nairobi.i and the mother was a woman named anna, who came from ano