Obvious then, but these things are easier to see in retrospect. There is speculation in silicone valley but not like we had in 1999. So there are probably some inflation. Anyone else who hasnt asked a question . I will take one more from this gentlemen and then happy to sign books i want to follow up on something i heard you say. I thought you said since the abolition of the Gold Standard the dollar hasnt lost any of its buying power. No, i said it hasnt lost its power overseas in the world market. There was a terrible inflation in the 1970s. The rate of inflation generally has not been severe. It has lost about 2 a year except for that period. You can look at the figures like a dollar in 1920 is only worth 14 cents today. You know, that is really significant if you are around in 1920 and still around today. But life doesnt work that way. What happens is at a 2 rate it is barely noticeable and in some ways it is helpful. The one reason we have unemployment is for cultural reasons it is
Ii business documents are about the vatican bank and the bishop of miami lobby on my behalf for access and a bishop in washington, lobbied on my behalf but the bishop who runs the vatican archive said no. That forced me to do with the oldfashioned way. And did business with the vatican bank. And alliance, go into their files and private archives, pull of the transactions that have been done with rome 50 or 60 or 70, and called on the pope since publication of this book in Los Angeles Times out that in march, ask for the pope to release banks world war ii files and what files of the wartime pope, there was no response. When he came to america the Washington Post editorial said the same thing and there was no response which i am hopeful francis will not just be a reformer going back in the vatican bank history but also going forward. He can do that by releasing the banks world war ii files. Host one of your former books, secret of the kingdom, the inside story of the saudi u. S. Connecti
Bank of england minutes, then we will go to mark barton for his reaction. What is standing out for you . The boe sees some signs of the Eu Referendum on june 23 is weighing on activity. May causeerendum softening in the first half u. K. Growth. That is interesting. It will react more cautiously to data before the eu vote. That is big. Also, it is considered implications on Monetary Policy. A brexit but may extend a period of uncertainty and have an impact on pound and asset prices. The brexit would likely push down demand in the shortterm. The brexit getting a big mention in todays boe meeting. Last month was the first time the bank of england as a group mentioned the risks of the brexit. Key risk. Is a until it is out of the way, do not rank of a rate hike. Looking at cable, barely higher at 41. 63. I made the discussions, many banks have told employees dont do that. Should the bank of england remain quiet . They want to remain independent, but they have to say some thing. There is a
It will be down to the wire whether the s p will post again or a loss for the year. Gain in the but we will see that holds by the end of the week. The move, energy down nearly 1 . Materials also down. 4 . A broadbased selloff. Not seeing steep declines, but seeing the many lot of different groups. Crude a natural gas it not gas had been on an upswing with forecasts for colder weather. It has been giving up recent gains. Crude oil prices down. It an unexpected build and inventories last week. Of theseeing a number various Energy Stocks down from Largecap Companies to the more volatile Companies Like Southwestern Energy and chesapeake. It is affecting Companies Like chevron as well. Even broadbased within the Energy Complex. Scarlet one of the heaviest weighted stocks in the s p 500 and the dow, apple having a rough time lately, starting around 118, now below 108. Julie it has been on this downtrend in december. The worst month since january of 2014. Also the first down year for apple si
[inaudible conversations] [inaudible conversations] good morning. Welcome to the Miami Book Fair the 32nd annual celebration of books and happy sunday to everyone. Truly wonderful to have all of you here. Hopefully youve had an opportunity throughout the week and yesterday to enjoy some of the many sessions to perhaps purchase some books and some other of our highlights here at Miami Book Fair. I would like to give a special greeting to my friends at Miami Book Fair, lets give them a round of applause. [applause] we are truly grateful for your support and friendship over the years and as you may know, this could take place without the thousands of volunteers, faculty and staff of Miami Dade College and its eight campuses throughout Miamidade County so many thanks to Miamidade College. [applause] many thanks to Miamidade College and founder of this wonderful event. Its going to be another wonderful day that we close the book fare later on this evening. And so, please thank you to all th