so there's only one thing the central banks can do and it's the only policy response safe since paul volcker left and that is to print more and to take interest rates down to 0 and then without batting an eyelash banks in europe decided their central banks in europe decided that 0 wasn't even a boundary we can go into the bank if interest rates but they're really trying to rebranding the exact same policy is to encourage the transference of wealth to the ever fewer top plutocrats and to disenfranchise billions of people around the world and to then claim that the uprisings the global insurrection against banker occupation that we see in hong kong that we see all over a lot america central america america europe france the indignados as you lay joe sobran vet as being something other than just a response to a plutocratic grab of the globe's resources with free money well max used to pull true. done square that sounds best if we use the full tricks magic tricks right and i think is the preferred you know verb in that case well how do they get away with this over and over how do they get away w

it's famous canals but in this neighborhood people don't just live near water they live on it paul volcker runs architectural tools of the area he says living on water comes naturally to the dutch because the netherlands is one of the world's lowest lying countries for almost a 1000 years we build dikes and create land it's in our d.n.a. to live with the water and with all technical possibilities nowadays and the climate change we find new ways to make neighbors on the water because of climate change global sea levels are rising a quarter of the population in the netherlands lives below sea level so these homes are for the future figure who thinks floating home is an enticing haven of shimmering light he helped design it after coming up with a plan for sustainable community with friends a decade ago the world needs to change we can't keep doing the same thing the group been doing the last 100 years. we wanted to make a statement and showed it is. floating houses may seem like a luxury but all could take say the floating structures can be adapted according to budgets need so low cost homes

so there are members rick perry for example paul volcker who have refused to appear but what we have is essentially members of either white house staff or u.s. foreign service who were still in the room and can give sufficient testimony one of dr hill's points today were counted in the 1st of 2 july 10th white house meetings in which song one simply expressed that there was a quid pro quo necessary this was a moment in which john bolton essentially excused himself from the meeting and expressed some pretty serious reservations about the policy making so even though some of the individuals that the white house had been most directly involved are not testifying people in the room have still been able to give enough evidence. how concerning is this to you. about what what this happening on the on the stage on the world stage the the image the integrity of the department of state that there have been career officials career diplomats who have been attacked personally by the white house sector say has not come to their defense and there have been members of congress that are trafficking i

that was paul volcker's quip. david: yeah. all this work, we have improved lives.e not the only ones. i think it is much better than that. people note to have get into business, particularly financial services. you can have a good career in financial services. at the end of it, you can look back on it and take pride in what you have accomplished. it's as simple as that. barry: that leads to the next question, what keeps both of you working? neither of you have to come up what keeps you going to the to, what keeps you going to the office? david: it's fun. it's fun to see retired people living better as a result of these ideas. sending their kids to college or whatever. these are not ideas that have no importance. you can get behind this kind of idea. eugene: you get a lot of satisfaction out of coming out -- up with stuff people have never seen before. barry: we have time for one last question. i am going to go with something thet what do you think future of chicago booth looks like? what is next in store for the school? david: i have been on the faculty since 1963.

barry: that was paul volcker's quip. david: yeah. based on all this work, we have improved lives.the only ones. there have been other people sharing ideas. i think it is much better than that. i would hate to have people not get into business, particularly financial services. you can have a good career in financial services. at the end of it, you can look back on it and take pride in what you have accomplished. it's as simple as that. barry: that leads to the next question, what keeps both of you working? neither of you have to work. why do you keep going to the office every day? david: it's fun. it's fun to see retired people living better as a result of these ideas. or being better able to send their kids to college or whatever. these are not ideas that have no importance. you can get behind this kind of idea. eugene: you get a lot of satisfaction out of coming out -- up with stuff people have never seen before. barry: we have time for one last question. i am going to go with something about what do you think the future of chicago booth looks like? what is next in store for the

question was asked about central bankers being attacked, it is not true, because i had visions of paul volcker storming into the room saying you don't know what that is. >> so, there is an attack of central banks around the world, and so, i think that he was wondering how you cope with that as a central banker which does not seem >> like an evil person at least from my conversations. >> okay. i'll take that. i feel like i am privileged to workt ta federal at the federal reserve, because it is an honorable institution, and working with people like ben, and making sure that the policy is the best policy to hit the goals. so there are going to be challenges thrown in your face and one of them may be the criticisms that we are getting in this environment, but it is part of the job that you have to stick to the knitting and make sure that you are doing the policy as best you can, and there is no simple policy, and so you can see the discussions that we are having in terms of what is the best way to go about feeling, and the right policy. so you to, you know, deal with that. i have concern that we g

and here was carter in one of his most courageous decisions -- he appointed paul volcker to head the fed, knowing he was going to choke the economy, raise interest rates, raise unemployment to deal with this embedded in inflation and carter said to us, i don't want my legacy to be perpetual high inflation, even if it means my reelection. the hostage crisis the main reason carter lost reelection? would you say yes, no, or is compensated. guest: i would say yes, but the risen economic impact. absolutely it was humiliating the superpower could not get john and his colleagues released after 444 days. in by the way, we had several agreements with his prime minister and each time khomeini would veto it. in my opinion, yes, it was the prime reason and the hostage rescue became a matter for for the failure to get the hostages out. that was the thread, in my opinion, that led to his overwhelming defeat, but the ,oint i was also making, steve iranian -- there was a to mystic economic impact oil.ing down iranian host: we will talk about the rescue section in a moment. let's go to phil. of the c

and here was carter in one of his most courageous decisions -- he appointed paul volcker to head the fed, knowing he was going to choke the economy, raise interest rates, raise unemployment to deal with this embedded in inflation and carter said to us, i don't want my legacy to be perpetual high inflation, even if it means my reelection. the hostage crisis the main reason carter lost reelection? would you say yes, no, or is compensated. guest: i would say yes, but the risen economic impact. absolutely it was humiliating the superpower could not get john and his colleagues released after 444 days. in by the way, we had several agreements with his prime minister and each time khomeini would veto it. in my opinion, yes, it was the prime reason and the hostage rescue became a matter for for the failure to get the hostages out. that was the thread, in my opinion, that led to his overwhelming defeat, but the ,oint i was also making, steve iranian -- there was a to mystic economic impact oil.ing down iranian host: we will talk about the rescue section in a moment. let's go to phil. of the c

and here was carter in one of his most courageous decisions -- he appointed paul volcker to head the, knowing he was going to choke the economy, raise interest rates, raise unemployment to deal with this embedded in inflation and carter said to us, i don't want my legacy to be perpetual high inflation, even if it means my reelection. the hostage crisis the main reason carter lost reelection? would you say yes, no, or is compensated. guest: i would say yes, but the risen economic impact. absolutely it was humiliating the superpower could not get john and his colleagues released after 444 days. in by the way, we had several agreements with his prime minister and each time khomeini would veto it. in my opinion, yes, it was the prime reason and the hostage rescue became a matter for for the failure to get the hostages out. that was the thread, in my opinion, that led to his overwhelming defeat, but the ,oint i was also making, steve iranian -- there was a to mystic economic impact oil.ing down iranian host: we will talk about the rescue section in a moment. let's go to phil. of the cia w