Its my pleasure to remind you that you are welcome to buy a copy and how will be available to autograph them after words. Here we are in the stylish new Conference Center to discuss a very old problem, namely how best to survive financial panic of which there have been many throughout the century, how to survive the fear and mistrust when financial actors try to withdrawal from risk to protect themselves, a rational strategy for each but as we all no, not when they do it at the same time. It is highly interesting historically but much more pressing than we can consider as how scotts book does in detail. What should we do in the next panic that will arrive sooner or later. Two centuries ago they accurately observed, on extraordinary occasions, a panic may seize the country one becomes desirous of possessing him self of precious metals. Again such panic concludes that banks have no security on any system that is to say that private banks on their own. In 1873 they drew the conclusion we