>> the greatest economist, the one for whom i have the most respect is robert mandell. he is a professor at columbia and he won the nobel prize in 1999. he is the father of supply-side economics and he also has a magnificent castle in italy with his wife, valerie and their young son. every year, and i believe he has done this since 1971, he has a fantastic gathering of economists asking how we can ever get back to a stable, international monetary system and he has people like paul volcker in attendance and i have met many bankers and leaders of government there. he is involved, still, in the future of the monasteries -- the international monetary system. he is very interested in china these days. he supplied the intellectual groundwork for the creation of the euro. he now thinks we can have some kind of linkage between the euro, the dollar and with whatever china comes up with. >> explain something. when the euro was created, was that 10 years ago? >> yes. >> there was a parody, $1 for one year rule. then it even dipped below where it was in the '80s. now it is $1.50 th