and there are people that love the national park service but they really love yosemite or acadia and want to give directly to that. as we've been developing these public-private relationships and potential donations, we're also seeking to include an endowment for a specific thing, such as the carriage trails or he -- one of the major developments at yosemite through the yosemite fund. so we're now including that in each of our donation agreements as we build this. i do believe, though, that it would be enhanced if there was some federal matching component that would -- the work we've done indicates there would be more willingness, as we did with the washington monument, if there's a federal component to this endowment. and we would love to work with you to figure out how that can e built. >> thank you very much, director. you heard earlier in the discussion of the helium bill, we're trying to start philosophically this kind of challenge approach. i think that there will always be questions of sort of how do you get started and in effect, i guess the technical lingo would be sort of f

>> yes, so in the lead-in, it said i am acadia -- i'm no longer at acadia. i'm a college professor at chapman university. with my personal money, i'm invested along with these beliefs. and i think things get worse than that, which is to quote argo, no good alternatives. the least good alternative is cash, and even that will be risky in the future if financial institutions fail. >> michael, the last word. >> a quick point, talking about dow 5,000, a highly funded, you're talking about the end of the capitalism system. if you are going to bet on that, we have more important things to worry about, as you might want to live abroad. everything you're betting becomes worthless under the end of the world scenario. >> yes, i don't agree. the dow went down 90% in the depression and we didn't have the end of capitalism. >> we didn't have much leverage anywhere near that kind of leverage in the '30s. >> yes, so you -- >> terry, when you were at goldman sachs, were you a contrarian trader there or what? >> i was only there -- i was only there for a short time. i was in

we have engaged our partners, such as the friends of acadia, and largely the national park foundationto figure this out. how can we do this? one component was on monday of this week, the national park foundation board and i interviewed three organizations that could develop a capital campaign withan endowment con opponent to that. and so we will, through the foundation, not appropriated dollars, but through fill lan -- -- we are also in the next two months i will be meeting with the foundation, with -- to look for corporate parts in the, the automobile industry, the travel industry, the hotel industry, looking for relationships with us for the centennial campaign as well to build public awareness to build philanthropy, i think the american public may only pay 80 bucks for an annual pass, and they can have 10, 20 national park experiences, but they want to give back. right now we have not created that opportunity for them to make a donation specifically to an incutment to -- endowment. and i think an endowment can be created as well. people love the national park system but they really

well, we have engaged our partners, such as the friends of acadia, but the national park foundation.o figure this out. how can we do this. one was on monday of this week. there were three organizations with an endowment component to that. so we will, through the foundation, a foundation through philanthropic dollars, we will higher a firm to provide counseling services for the development of a major capital campaign for the centennial for 2016. we are also in the next two months, i will be meeting with the foundation with 10 corporate sectors to look for large corporate sponsorships. the automobile industry, the travel industry, looking for relationships with us for the centennial campaign as well. to build public awareness. to build philanthropy. and to the american public, they may only pay $80 for an annual pass, and they can have 10 or 20 national park experiences, we have not created opportunity that opportunity yet for them to make a donation. they want to give directly to that we are also seeking to include an endowment for a specific thing, such as the carriage trails were on