If you dont have stable money then things stay the same. Touche short questions. Was nixon faced with . What did he feel he had to do . Gold has increasing industrial uses we all know about the uses is space how will this affect things with a Gold Standard on that . First what force is off the Gold Standard supposedly . We were not playing by the rules with the Bretton Woods system at 35 an ounce. Nixon was worried about reelection in the economy was not responding quickly enough so the theory was out there it would boost the economy in for one year they put in wage price controls then the economy crashed so it was bad intellectual theory but not their real crisis any of the economic problems were small compared to the crisis we had in the past there was no sensible reason to do its with that industrial use of gold it is a small fraction and reusing less we dont use it anymore for fillings once upon a time we had gold and silver. So for most gold is for store of value and ornament but
You make of very, very very fundamental point. What we think of a rising cost like energy is really the devaluation of the dollar and future fears of devaluation. With that Silver Dollar if you flip on this table you here at a nine piece loudest sound that is how we got the phrase sound money. [laughter] mr. Forbes whittier thoughts of the concentration of the Banking Industry consolidation in your the concentration of deposits . It is one thing to get consolidation as a result of Natural Forces of the marketplace it is another when it is a result of a regulation and fiat. In the first part of the history we had extra banks because of regulation but when bankamerica the original one started in california when he took the bank across state lines using a big Holding Company to get around restrictions if you own a bank in one state cannot o one in another so Congress Passed an act to prevent him but today dodd frank had the implicit purpose to drive small banks of business. They will tell
Sure what it can do next with the ficus trees that are dotting San Francisco is been a wakeup call. Pam some accidents to tell you about today in todays brady web in oakland 880 interstate has remained close. A big rig hit an over crossing. The crash happened just after 2 00 this afternoon the drivers injuries are described as minor. In the east bay area driving too fast cause this truck to lose control on eastbound ask because the chp to close the road exit. These bags of fuel absorbent to absorber this bill. And in san jose a driver was trapped when his rig overturned this was about 1 00 afternoon on highway one a one off ramp. Byrd spilled into the row right and firefighters rescued the driver there. Pam amend the Weather Center tonight and it didnt seem like a lighter red rain hit the area today. Now reporter were done with the rank and was looking at this low clouds that are settling back in. With this in the pavement is drying out and his dampens box is still cloudy also. General
Clouds and fog and then it will be left with sunshine, mimed conditions and even the coastal areas ones again will brighten up. We will see areas of fog and temperatures there from the 50s to 60s. And midand upper 60s around the bay. There is an end to this forecast where we see the dry and mild temperatures. Its coming in the sevenday outlook. Ill have it in the next few minutes. Look forward to that. Thank you, lisa. Bart crews are hard at work this morning make league pairs following adoral derailment in concord on friday. The goal is to get trains running east of the Pleasant Hill station by 8 00 a. M. We have the latest on the progress. Reporter this is what it looked like, a bart train with part of the cab hanging over the edge of tracks. Now the train cars are gone and two 30foot sections of the rail are getting fixed. Our goal is to have our normal sunday Morning Service which begins at 8 00. Thats our goal. You see how this car is banged up from the accident. All the damaged c
Maintenance neck nick. Average total for workers is about 106,000 per year its going to take a toll. Linda reed is the president of the clerical unit and says any cuts could be devastating to her members. We have many single moms and single dads and have families that are struggling. One person could no longer afford to live in hayward. According to the city of workers are paid as well, or better than, their counter parts in surrounding cities. Union members again holding this rally as we speak and told me if the council imposes a contract theyll be left with two choices one to accept it, other, to go on strike. Yet another victim is coming forward claiming to have been molested by a Foster Parent in Santa Cruz County this, is the fourth case, the mostrecent victim is 14, another, ten this, is a man theyre accusing. A 58yearold out on bail. Deputies continue to search for more victims david louie joins us live from the sheriffs office. David . Well this, is a particularly disturbing ca