children behind barbed wire. >> the the second thing is -- umm, it's hard to explain, but it has to deal with some internal behind the scenes deliberations about how to get long fire. it was a very old political ally of fdr and played a hug in it wasn't very old political ally of fdr with the nomination in 1932 and she has developed relationships with five years later what we call zionists, and

she is appearing in synagogues and communities where there have been violence and so what she is doing is this dance between using not a sailing of the government's temerity in refugee policy. in my day. but she is making it very painfully clear on the ground where she stands, and she has a fresh ink made. that is the dog tag with your signature on it, she gives it to people in europe who are trying to buy people's freedom. and i wish she had been more public about that but that is irrational, wants her to be a demigod but that doesn't mean i am not disappointed by it. does that make sense? thank you all very much.

[applause] >> visit booktv.org to visit any of the programs use the online. the search bar on the upper left side of the page and click search. you can share anything you see easily by clicking share on the upper left side of the page and selecting the format. booktv streams live online 48 hours every weekend with top nonfiction books and authors. booktv.org. >> lewis lehman is next on booktv. lewis lehman served on president reagan's gold commission and called for a return to the gold standard which he argues will help improve our economy. this is about an hour. >> welcome to the cato institute, a and director of financial regulation studies at the cato institute and served as

moderator at today's event. one cannot long study the history of monetary policy without at some point coming across the writings of lewis lehman, whether it is his occasional offense in the wall street journal or numerous books, lewis lehman has a uniquely accessible and insightful style when discussing monetary policy. it was for this reason among others lewis lehman was chosen to serve on the u.s. gold commission where he co-authored with the minority report the case results which i will note you can download a free copy of from tivo.org. the debate over monetary policy to the extent that they even take place had dominated by keynesian and moderates. lewis lehman's work has been instrumental -- the central flaw in these debates is indians take the desirability of a government

central bank, and reminded us of the importance of choice in the realm of money. choice and competition hallmarks of a free society as i trusted honesty which are far more important to the nature of money then something simple like price stability. we are very fortunate to have a former keynote institute alum to introduce lewis lehman and offer commentary on his book and make sure we know there are copies here, we will be around to sign copies, a very big discount off of the list price. addison who will introduce momentarily is currently executive publisher in baltimore, and president bob brooks, give me a little money that i spent on these books every year. before i turn over to addison of the want to offer my apologies for having to split that. i will be rushing to capitol

hill to testify before the house financial services committee on why we need to ban any and freddie which might be the biggest thing after the federal reserve. with that let me turn it over to adam. >> mark. is a great honor to be here today for a couple reasons. one of them is ten years ago or a little more than 10 years ago worked at kill myself and by health sponsored forums just like this. so it is great to be back and also a comforting thought that geo has continued to work. i have gone on to a fairly illustrious career in publishing and the troops here have continued the good work of bringing forth books like the book we are here to talk about today. the second great honor is the

opportunity to work with lewis lehman. we have become friends over the last several weeks or several months after meeting at the stable dollar conference collapse of the heritage foundation a couple years ago. i had the opportunity to visit lewis lehman at his home. he was gracious enough to allow a film crew to come into his library and do a lengthy interview. we are very interested in the book that is coming out now and i will explain why in a moment, but it would help if i explain a little bit about what the gore of financial is. it is the retail publisher. we published investment advice for individual investors, people who are trying to manage their own money and to illustrate what that is like, for our own purposes, for training, helping writers learn how to communicate with our audience, we went into

our reader database and found the typical reader of our publications and gave him a name, bob. he is an actual character to our readers, he is a 58-year-old dentist, has a valuable skill for most of us. i want to keep my teeth as long as i can. i visit my dentist. he went to medical school, very expensive to become a dentist and as he entered into his practice he had become an entrepreneur and figure out how to run a small practice. spent most of his adult life thinking about dentistry and running a business. he hasn't spent a lot of time examining all monetary system works or how to the financial market works or what goes on when he is getting the nightly news about the dow and gdp

numbers and things like that. the first thing bob did when he realized he had enough money in his retirement savings account to worry about it is gave it to wall street and guided this comment on friday night in new york city and it didn't go over very well. the first thing that happened at the gave his money to wall street was he started losing it through bad decisions and high fees that he didn't understand. a lot of trading going on. smart enough and sophisticated enough to know that he could figure it all. he could do work on his own and figure out how markets work, invest successfully on his own but needed some help so he went on line, he finds a glorified and to land that is our core market. one of the first lessons we try

to teach individuals, who are sophisticated enough to understand it, when managing their own money they have to understand the dollar itself is what is under a planned obsolescence, what we used to complain about american car manufacturers. there is a strategy in place to have the dollars he rode in value by 2% year ended you listen to futures given by the chairman of the federal reserve, ben bernanke, they will tell you that is what their goal is and if they can't get there. if there is some deflation in the market they want to print more money to achieve that target. bob's reaction at first is incredulous. he can't believe that strategy is in place and they turn on us. they don't believe that the banks actually have that strategy in place. the second thing that bob does

is start a panic and start speculating in the stock market. we have products that help him do that too but we try to educate bob and his friends madness about the monetary world that is working against them. the dollar or the $100 that he saved today in 20 years time will be worth $0.40 and what does that mean? it means what cost $100 today of the money that he saved will cost $500 in that much time. another response we often get is the dollar must be doing well because it is rising against the euro or it is rising against the yen because that is in the headlines, the dollar moves up,

bob feels better about the economy that the planned obsolescence is still baked in. one of my favorite lines from a movie we produced a couple years ago was uttered by the then comptroller general of the country, david walker just because you are the nicest looking course in the food factory doesn't mean you want to be in the food factory. he was talking about the dollar being part of this race to the bottom that all currencies are part of. that is why i am here today. i think is very important for this policy debate to be played out in public as mark alluded to. most of the debate is hijacked by keynesian and monetarists and it is very difficult for an alternative that the of view to get out there so we are on c-span today.

we have gone to forum for our own publications, we have been publishing a lot of news were, comments, talking about the interview we have done, we will be issuing releasing the interview we have done on our own web site and giving a copy of the true gold standard which is another book that lewis has written. if you members of the book club, people who have come into our reader lists and joined -- excuse me -- our economic club to learn how this works and how financial markets work so we can manage our money. when we were talking at your house, you made a very important observation off camera. so we haven't actually published it but you mentioned, you were

lamenting that the rise of the internet, the influence of the internet because in much of their own work and the work of journalists around the world it is easy to look stuff up online and use that as your source material. it is much more difficult to go back beyond 1995 and look for arguments in this case about monetary policy because you have to go to the library and use microfiche and that is more arduous than just keeping things in to google. lewis mentioned that he had run across that and found it, goldstandardnow.org. in order to dig up some of the pieces of the monetary debate that was being waged in the op-ed pages in the late 70s and early 80s, pieces that otherwise would not be able to find

online, they are now at thegoldstandard.org and there's a conscious effort to reignite public debate. ralph was riding in forbes not long ago, rebutting a comment made by economists at new york university that the argument for some money through classical gold standard was the province of net jobs on the right wing, the fringe of the right wing was the will term that he used. eloquent job defending the public debate, the very centrist and important job of arguing for a classical gold standard, not from a lunatic fringe or one element or another but the

political spectrum, had actually advocate a monetary system where bob can save $1 today and to know that it is worth that dollar in purchasing power. i am not the most eloquent speaker on the subject but i think the we do have in lewis lehman probably the most eloquent speaker at the beating for the possible gold standard. with that i will allow him to discuss the contents of his book and we will open up for questions. [applause] >> i want to thank you, congratulations for your remarkable success with an aura,

books and documentary's which we prize in places like france. mark, i know the work you do at keynote is outstanding work. it is the center of the regulation center and also the center of the regulation. also want to thank you for inviting me to kato today. there are any distinguished guests here today and my dear friends too. so i will begin by declaring this a period, an era of unparalleled of financial disorder. indeed the modern age of central banking, now in its fourth century may be characterized by the rise and fall of real money.

every decade is said to be preoccupied by specific issues. for example, from 2008 through 2013, international economic issues focused on quantitative easing and the fluctuating purchasing power of the dollar but the focus turns now all from the fall to the rise of the dollar exchange rate and consequence of its instability. on domestic issues government economists, academics and talking heads of television are today focused on what they are pleased to call modest price inflation. let it be said, however that financial market participants know that instead of federal reserve quantitative easing not being expressed in the cpr, it is expressed in the success of

price rises of specular to hedges such as commodities, foreign-exchange, equities, bonds, farmland, real-estate and art among other vehicles. these are the vehicles used by the so-called kerri trades of the specter listed and financial class empowered as they are by near zero interest rates. the financial clash gets the sheet fed credit first, enabled to frontline the fed's massive security purchases and with the proceeds of new sales they profitably arbitraged the prices of related assets and securities. in fact, excess cash balance created by quantitative easing were reabsorb during the past five years by a rising asset prices of the ridge and by the export of excess dollars abroad

through the overall u.s. balance payment deficit. these deficit payments themselves being partially financed by rising prices until a short while ago the emerging market prices began to rise, commodity prices again, foreign-exchange rates, economic growth in emerging markets themselves. at the moment, some of these trends are in reverse making for reciprocal dangers. a word about the cpi. statisticians have impeached the u.s. government methodology to compete consumer price index. for example using the methodology of cpi computation in 1980, cpi inflation would have been close to 10%, using the government methodology of 1990, cpi inflation would have been closer to 6%. whatever. and wherever the inflation,

workers earning 6 salaries and wages and those living on pensions and fixed-income this know that their paychecks and their miniscule income from savings do not keep up with their expenses which must be paid for at rising true market prices, and working people of also discovered that the credit worthy liquid financial clash with access to cheap money at the fed and that the bank has enriched itself not only by bailout subsidies but by cheap financing derived from a symbiotic dependence on the federal reserve system. this, a fundamental cause of the rising inequality of wealth in america but it is also true that fears of deflationary persist in the world of commodities, equities in emerging countries and at central banks. they haunt the fed and the

financial market not least because foreign economies try to adjust t and disorderly fall and now the rise of the dollar on foreign-exchanges. indeed, manipulated, floating exchange rates engage all flow demonic forces of light and mercantilism and foreign exchange controls. the combination of which has the power to destroy the international trading system as in fact it did during the interwar period from 1920 to 1940. let me touch briefly on only a few of these subjects during our discussion. in boat full light of history, the past century has been preeminently the era of financial disorder, an era

inaugurated by world war i, a catastrophic and suicidal act of the west entailing the self immolation of the european great powers. it destroyed not only much of european civilization and the flower of its manhood but also destroyed the monetary system associated with its unprecedented growth and prosperity, namely the classical gold standard. world war ii and its aftermath with the nets acts of this unfolding tragedy as all european countries struggled with inflationary disorders during the war torn 1940s and reconstruction efforts of the 1950s. the experts call this period, this early postwar period the permanent, a quote them, the permanent scarcity of the dollar. remember the u.s. economy in 1945 dominated the planet as no country of history accounting

for 50% of world output and 75% perhaps as much as 80% of global gold reserves and. for 15 years from 1945 to 1960 the gold linked dollar of the postwar bread and woods system remained a reasonably stable epicenter around which other fluctuating currency systems orbited. quite unsteadily. it should be emphasized the gold exchange system was a reserve currency system based on the hegemonic dollar. this had been erected on the rickety foundation of the post-world war i reserve currency system designed in genoa in 1922. the jenna lee system itself built upon the official reserve currency role primarily of sterling but also of the dollar. both currencies, officials substitute for pre-war

settlements in goals of residual balance of payments, deficits. from 1945 to 1958, the reasonably stable bread and would dollar did dominate global trade and exchange as the world struggled to recover from world war ii but after 1958, a momentous monetary event took place. western european governments restore the new convertible the of their currency systems on current accounts sponsored by the european payments union, abolished most exchange controls and sought to establish budgetary equilibrium at home. promptly dollar primacy began to wane. from that very year, 1958, when the once prostrate nations of europe hardened the convertibility of their national

monies the european nations accelerated their postwar rise in world markets and then, and that was the united states which began to experience near permanent overall balance of payment deficits and budget deficits. threw up the 1960s under presidents kennedy and johnson, inflation and external deficit of the dollar generated by expensive u.s. monetary policies and budget deficits lead to a perennial, perennial foreign-exchange crises ultimately -- foreign-exchange controls in the united states. the breton woods system groaned under the flood wave of excess u.s. dollars growing abroad where of course they were accumulated in the official foreign-exchange reserves of our trading partners. this was the period may be some of the remember when the

washington policymakers and apologists -- paul samuelson and walter l. year suggested that a little inflation induced by managed currency, say 2% or 3%, was controllable. and desirable. at an end of the 1970s inflation had reached the annualized rate of 15%. since the u.s. dollar was the primary reserve currency under the treaty, foreign central banks were in effect required to purchase the undesired dollars in their banking systems against the creation of their own domestic money. 4 in central banks held these dollars as the official reserves. they didn't bury them in the vault. they probably reinvested these dollars in the new york money market. enabling americans to buy again

with the original cash balances used before to buy the goods abroad. any word, this duplication of purchasing power under the reserve currency system, and associated with the production of new output caused aggregate demand to exceed aggregate supply. inflation must be the ultimate results. this in a word is what my colleague john miller and i called a reserve currency curse. it was also during this year the 1967 that an international paper money, special drawing rights, fdr's, was invented by the international monetary fund, in order, it was argued, to avoid a potential liquidity shortage. indeed it was even said that the artificially fabricated reserve assets to be allocated among its members by the international

monetary fund was the necessary liquidity to finance growing world trade. but as one foreign economist remarked, given the inflation and world money glut caused by the u.s. deficit, the creation of fdrs amounted to irrigation plans during a flood. so from 1965, the federal reserve had been required by a statute to hold gold reserves equal to 25% of federal laws serve notice and deposits, the so-called monetary base. when president lyndon johnson decided simultaneously to expand the vietnam war and to build the great society welfare system he moved to avoid the statute which by virtue of the stipulated gold cover limited the amount of money and credit which the federal reserve system could

create. the full inflationary potential inherent in the federal reserve act of 1913 and in a monopoly central bank it had created, was about to be realized and as a legally required gold cover to the side, the deficits, credit expansion, inflation and balance of payments, crises intensified. now what a few farseeing statement actually predicted as early as 1960 seemed almost inevitable in 1968, namely the collapse of the system. from 1960-61 the london gold pool, 0 originated by the developed countries, led by the united states, had underwritten the convertibility agreement. the gold pool had grown increasingly shaky because of the central bank quantitative easing.

by selling gold at a stipulated gold dollar parity of $35 per ounce in order to rich beem excess dollars accumulating a broad the anglo-american powers have been able to finance their extravagant welfare system at home. and extravagant foreign policies. .. >> these changes before and

after 1971 welcome in most of the academic communities. the agreement was as they said, and unnecessary discipline. many gladly diminish the regime. it was profoundly flawed. there is a new era of central bank managed money. and of course, to be managed just as well by economists at the fed. and other central banks at monetary solutions.

so was from 1945 to 1965 and in other developed countries. they captured much of the feel of the economic departments and from there one learned that money manners as much or more than fiscal policy there were a lot of manipulations even by a computer. as milton friedman suggested. that is the daily bonds and

money market to buy themselves billions of dollars of work government debt securities in order to manipulate supply of credit and money and to influence the level of interest rates. growth of and convertible paper by means of a steady increase in the money supply. about 3% monico per annum. and of course by the all seeing fat. it was by the academics of the fed that they had a unique personal foresight to attain these goals instead of being on

the board, they advocated together the demolition of a very tenuous bretton woods gold with the dollar. my theory is that keynesians and others like to enjoy the floating currencies. they had a permanent denomination commoditization against any regime based upon the discipline. it was around that time in 1967, 1970, some very distinguished debates including milton friedman, the chairman of the banking committee was there. and he had before the floor lasted he proclaimed from the floor that he was absolutely certain that he was willing to bet that when gold was to

monetize, the price would decline $6 per ounce. in 1981 it reached $850, i couldn't help but wonder whether mr. roy said cut things short. [laughter] now that central bankers were armed with the power to manipulate currencies and could presume to become de facto central planners. to obtain this goal, the historic institution of a real standard and the gyroscope of a civilized economy for centuries must be destroyed. and devoid of real substance had become the fashionable part of

the fed and policymakers everywhere. and so it is today. in the meantime, under president nixon, european governments have become increasingly impatient to exchange their excess dollars for what remained gold reserves. nixon responded by defaulting on august 15 of 1971. my 33rd birthday. he abolished by executive order this tattered remnant of the gold standard that had destroyed by the undisputed leader of the three world. the rise and fall of real money was now in a finished chapter of history. gold would then be a fluctuating commodity and also contrary to

conventional information at the time, the dollar would continue as the currency went on to this very day. the world dollar standard. now it is a nominal paper and deposit of money. linked primarily to the judgment and manipulations of its issuers at the federal reserve system. it has supplanted the market. summing up some consequences that follow. let us take a quick look at the economic world bottoms up. like the macroeconomists.

average wages per hour of work in the united states have been stagnant in the average economic growth since 2000 has been about half the average annual growth of the previous two american centuries. real purchasing power saved in the bank and adjusted by cpi has declined to a value of about 15 cents. it has risen from 1971 to 2013 by about six fold. in a word, the american middle-class has been gradually dispossessed. and the consequences of the

collapse of money worldwide are still unfolding. only one century of post-world war i financial disorder has been written about. now the question is what is to be done. so let us move forward to our discussion and let us inquire together into what is to be done. thank you very much. [applause] >> thank you. whenever i talk if you like it was just given a whirlwind tour of history. washington seems to make the same mistakes over and over again. i also want to note that the

cato institute came out with a paper for my good friend on the history of the gold standard of the united states i would encourage you to look at that. if you could give your identification and wait for the micron come to you so we can wait for to come to you that would be great. >> thank you, mark. thank you so much. sir, thank you very much for being here today and for offering your book at this reasonable price. five dollars is a great deal. jump into your book on page 245 when you talk about the five

steps to get from here to there. as i understand it, you are talking about a central role in reestablishing a fixed convertibility to the dollar. that concerns and because it implies a role for the federal government and i suspect that i'm not the only one in this room who is skeptical of anything that the federal government gets involved with. my question is can you envision the gold standard that doesn't require involvement of a national government? >> that is an excellent question. the answer to the latter part is yes, indeed.

we can describe a long-lasting gold standard that does not necessarily involve federal government management. it is laid out in the propositions and is the standard of the united states and nations this and there is an inevitable involvement in america of the federal government. we live in a country where not all things are really permitted. there is a constitution of the united states and in articles one comment sections eight and sections 10, but has made clear that congress has the sole power to coin money.

we have established and defined the dollar, whether it be gold or silver and not the federal reserve system. that is a near agency of the federal communications committee for the old interstate commerce committee. there is an indispensable minimum if not more involvement of the united states government initially by congress having the power to define the gold weight of a dollar with the gold standard to be reestablished. that is where the initiative will come from. it is certainly not without recognition in washington.

not unlike the banking panic of 1907 to create a commission at the highest level among senior officials of the government and private citizens to examine as the real and commission did in 1912 the causes of the two stability of the dollar and the panic in the failed in the price system. as mr. churchill said, the situation is hopeless but not serious. [laughter] sumac next question over here? in a. >> thank you, mr. lewis

lehrman, you have done such a good job of arguing that the standard needs to be replaced and can you talk about any other single commodity which is less stable in value? >> under the basket of currencies or any kind of store-based monetary standard, i think that it is sufficient for me to say that it would be as unstable as a fluctuating currencies themselves. there've there would be no reason to believe that it would be based upon a fluctuating the

supply and demand and the cost of productions. we have many tied to the gold standard. almost anything is possible for we rely upon academics and classrooms to design a perfect monetary system. in the end whiteboards or blackboards will not do with the testimony that reveals a conclusive answer on that. what we need to do is look at the historical evidence. of the modern world trading

system. and we need to look at what was the least imperfect monetary standard by which nations and families and groups grew at rates of growth with the whole history of homo sapiens. if you want to put it that way. the facts are that imperfect people can only choose the least which gives him the ability of their wages and salaries over the long run. it was the decision of the british to establish this system whereby the british pound was defined as a fixed weight of

gold. not unlike a microsoft operating system. many emulated the system and join themselves to the gold standard, including all the great powers of europe. if you look at the price fluctuations and the work of isaac newton and the year before world war i, even up until the 1930s, you will find that the variation in the price level was basically zero. that is to say that the purchasing power of a couple hundred years in choosing basic goods from market was the same purchasing power based upon the wages and salaries of each

particular facts and circumstances. so-called inflations of the gold standard were about 1.2% despite the unbelievable exaggeration that one hears from the academics who wish to criticize the gold standard. the inflations themselves and the expansion of growth molas described as inflation was about a one to one and a half to 2% rate of gain during periods of augmentation. if you take the example that

encompasses deflationary moments of decline to about world war i and just be. not before then from 819-79-1913. you'll find that the purchasing power was virtually without movement. they had no access to make it count on the purchasing power with their entire system expired. >> we have powerful computers.

all these things and i'm going to handed over to addison who will take a few more questions were about 10 more minutes. >> i work for the child's coke institute and i am fairly new to the issue of monetary policy. i was doing some research into my home state of utah. recently they passed that tenure and there is a precious metals association informed which in my understanding is a place that stores old and also issues credit cards or debit cards allow people to buy and sell and

gold. i'm wondering what your thoughts are. it seems like a gold is acting as a competitive currency and nonsense to the dollar. and if it could be an alternative for a transition to the gold standard. >> for a young lady who is becoming new to this issue, you certainly get the picture. there are people that have something to do with the adoption in utah. this is establishing nothing but gold and silver, therefore permissive of doing so. it is intended to create a competitive currency and the arrangements to make effective in utah and elsewhere are being

worked on by lots of smart people. there is so much written well and one is that the effort and i think jeff can tell us about this, i think there are about 15 states where there is an active effort to replicate the bill. and this is a competitive currency with federal reserve notes. he worked all day long, take care of their families come and try to save money, teach them at

home. this will preserve the purchasing power of their wages and this includes fixed incomes and pensions. one should not omit the didactic purpose involved in this and it is not the most important potential. a great president once said that public sentiment is everything. a policy is necessary and this will follow. this is part of the building and

he and convertible paper dollar manipulated by the federal reserve system behind its reform. the second fact is that one of the things about this is like standards and telecommunications standards and computers. entities want to hook up to that network and it takes on a certain characteristic even if privately held of a monopoly. everyone wants to use that network.

everybody wanted to be the network because everyone wanted to make their payments in a currency that was the standard acceptable worldwide in all forms of trade and payments. the disadvantage is we still have a network in place, namely the federal reserve note which is ubiquitous. everyone is in the habit of making payments at the grocery store as everyone has tried to displace this. it is a profound effort that is a leader.

what we need is a congressional action. it is unique with powers given to healthy weight unit of gold. that is 1 dollar and it is equal to one goal. that is not sufficient. there would be a necessary element as bona fide. according trade and exchange. >> one of the encouraging aspects of his passion for

advocating for families and people outside of the political class. not many advocate for days. i appreciate all your work and i just want to point out that you have done it in this argument for 40 years and have collected this in the book. before we do this, i just want to be so passionate on the subject for many years.

>> the book is money and gold and history. >> i was a committee counsel for 14 years. it sounds like you impose monetary discipline. congressional discipline is kind of a oxymoron. i wonder if you have thought at all about the idea of taking the core of the discipline you propose about the fact that unlike laws, states have the power, if used properly, to

force congress to propose a constitutional amendment. instead of relying on politicians in washington, perhaps we can impose this from the outside to washington. >> positions have arisen. ever since the crises of monetary standard. ideas have not been propose quite so succinctly as that. and a constitutional amendment.

it is as functional as congress is thought to be, i would choose the legislative act as the less-than-perfect mechanisms by which to inaugurate the gold standard. if i may pick up on the beginning. you say that congress imposes the gold standard on and on ruling and dysfunctional financial world. the better way to say it, if i may is that congress is required by the constitution to define the american monetary standard. under article one, section

eight. see the derivative point in section 10. congress has given the sole power to coin money and regulate the value thereof. there is no power given to a federal agency like the federal reserve, banks like jpmorgan to establish which have opinions about this american standard. it is congress' duty. to define the american monetary standard. there have been 40 years in which they have failed to find the monetary standard. trauma center history of the american public until 1971 was

defined as a certain weight of precious metal. primarily gold. it is fair to say that congress has been dysfunctional. however congress has been dysfunctional through many periods of united states history. we just take the antebellum period after the inauguration in 1789. many people thought that everyone should have a free and equal opportunity in that certain classes were denied that opportunity. he finds that there are people, great statesman who despaired in the declaration of independence

would become the american proposition that governs or latin america. things happen. congress gives itself together. congress proposes amendments to the constitution and its amendments arise from the people directly as well is within the halls of congress. so go for long times with a dysfunctional congress and the reason i mention this is the chairman of the joint economic committee of congress and a gentleman from texas and his committee have presented a bill calling for a centenary monetary

commission to examine what should be the american monetary standard. an examination of history and empirical evidence. especially historical evidence. and what all of those of different persuasions and there are many more in the taxonomy of the economists. but to bring forth his opinions in an attempt to gain a consensus and thereby to perhaps then it will do its duty and had a certain weight of precious metal. i thank you very much. thank you. [applause] >> in a moment i will invite you

to lunch. it will be held on the second level in the conference center. the school up the spiral staircase. you cannot find it, this gentleman right here will help you. on behalf of a core financial, i would like to thank you for inviting me to come and help us on this book. i would also like to thank the cato institute for hosting this event and allowing me to take part. it's such an important piece of work to all of us. i really hope that it will serve its purpose and reignite the debate over the classic standards. sumac thank you. sumac thank you, everybody. [inaudible conversations]

>> you're watching the tv. forty-eight hours of nonfiction authors and books every weekend on c-span2. here are programs look out for this weekend. at 2:00 p.m. eastern, the book the day the democrats ousted their governor, but lamar alexander in office and stopped a scandal. then i took the call, an encore presentation of the 1998 notes interview. tomorrow, matt griswold presents his book, three centuries of a slave plantation on long island. at 6:00 o'clock am a compilation of books on the federal budget. these ograms and more all weekend long. visit booktv.org for a complete schedule. >> from the 2013 harlem book

fair. a discussion about science and health. this is about one hour and 15 minutes. >> our first panel is entitled mythologies of recent science and health. before i introduce our moderator, i also want to acknowledge rich who work with the tires we are pulling these panels together and discussing what are the conversations that impact us as a community and we should discuss to see if we confine our way in or our order way out. so again, thank you so much for being here. the moderator for the first panel is sheldon krinsky. he is the author of genetic

justice, the databank in criminal investigations and civil liberties. he is a professor of humanities and social sciences. he says here at the university -- okay, that's toughs university. [laughter] and these blows visiting professors at the college, please welcome sheldon pinsky. [applause] >> it is such a pleasure to moderate this panel. first of all, let me introduce the panel members. to my immediate right is a longer now to her rightamuel k.

send alondra nelson. [applause] and then to her right, the right of alondra nelson is sam roberts, who has written about the health effects of segregation. [applause] his right is jonathan. and to his right is harriet washington his book, deadly monopolies and the consequences for your health and our medical future, please give her a very welcoming round of applause. so what mythologies did we all

learn? what did we learn from writing her books? what would we want to share with the audience today and discuss amongst ourselves? i'm going to start with three minutes that i learned from writing genetic justice, which was really doubt forensic dna. you watch all of these programs on tv. myth number one is that the dna profile is like fingerprints. not true. very different. dna evidence is and how about. that is also not true. it is not infallible for prosecutions o exonerations.

myth number three is collecting dna profiles is race neutral. that is also part of this. maybe you can tell us what some of the myths were the you have discovered in your work. sumac good afternoon, everyone. good afternoon, harlem. thank you for the introduction. mine are more three truths than three months. health is politics by other means, which means to suggest that one were talking about issues of health and science, we can be talking about testes and laboratory benches and advanced scientific research and we are also talking about challenges over health care access and access to scientific information.

health education and the like. and the second is that the civil civil rights tradition, the black freedom tradition, the protest tradition, it was always a health activist tradition we can think back to the u.n. i organization which had a cadre of nurses and we can think back to the powerful embrace you talked when she was advocating for saw writes about being sick and tired of being sick and tired and gave us the poignant miss him to give voice to those in the south that were sterilized in the south. an issue that has been in the news in the next couple of world in this is kind of you test for how we think about black

politics but i think that we don't appreciate so much is that they were deeply in caged in active health medical care services in the united states. they were engaged in giving people access to services that were under mention that we didn't know enough about. the services were underutilized for and they also had a national network of health care that provided basic health care services. given the prior book the minute you probably know, this party was engaged in protecting black communities from overexposure sweat right about this instance.

they wanted to stop this from introducing research that would have affected men and boys in california. so they provided services and ways to respond to help black communities that are underserved and also protected black communities from the weigh-in, which we would disproportionately overexposed to the worst terms of medical research. >> what about your findings? >> thank you, good afternoon, everyone. similar to alondra nelson, i found some truth to the myths. in a lot of ways this is the era of jim crow and the birth of modern public health in the united states. in doing so i found that many black communitie