Jim, thank you so much for joining me on today's show. I've been following your work for a while and you're the best-selling author of many different books, but a couple of questions I wanna kind of talk about today. Obviously it's topical what's happening with the economy today, the response what they have for COVID. My question for you is, in Rotoruin, you outline ICE9, and I know you've spoken to death about ICE9 probably a million times, but the reality is a lot of people aren't aware of it and what it is. So if you can just spare a minute and kind of educate my audience on what is ICE9? Sure, I'd be glad to talk about that. And what's interesting, I'll describe it in detail, but it has now kind of permeated the conversation. You see ICE9 used in a lot of message traffic, Twitter feeds, interviews, and I kind of nicked it from Kurt Vonnegut to begin with, so I'm happy to see it out there without a lot of credit. That's fine, but it is a very useful concept, so let me explain that. So the idea came from a 1962 novel called Cat's Cradle by Kurt Vonnegut, very well-known author, wood-winning author, and it's sort of gotta be a certain age, but it was at the height of the Cold War. We were worried about nuclear annihilation and in this novel, Kurt Vonnegut imagines a writer's bed of physicist who came up with an isotope of water, very similar to water, with a slight difference. It was frozen at room temperature, and if that isotope came in contact with regular water, the water would freeze, and he put it in a very small vial and gave it to his children, and so the idea is if you poured it into a stream, let's say the stream would freeze, then the river would freeze, then the oceans would freeze, and then the planet would freeze and life on Earth would die. So it was a doomsday machine, which is one of the things we talked about in the 60s. So I took that concept and applied it to finance and looked at the possibility of a sequential or cascading shutdown of financial venues on the following scenario. So we're in one now. I mean, we're in a, this is certainly a depression. We talked about the economy a little bit. We're not quite at the financial panic stage. There is a difference between recessions and depressions on the one hand and financial panics on the other. Sometimes they appear individually, sometimes they appear together, but at least so far we're in the depression stage. We'll see how the financing side of it works out.  Everybody wants liquidity. And so it tends to find expression in a particular exchange. So everyone just starts selling stocks, stocks, stock markets crash. They become disorderly and you have to close the stock market. Now we've seen small examples of that. We've seen the circuit breakers tripped on the New York Stock Exchange. The exchange floors closed. The exchange itself is still functioning, but the floor is closed. So kind of tiptoeing up to a little bit, but you close the stock exchange to stop that disorderly trading. What happens is the demand for liquidity does not go away. It simply redirects itself like a river flowing to a new venue. So the next place might be money market funds. So people call up and say, all right, call the brokers, sell my money market funds, send the money to the bank tomorrow. Well, those money market funds have assets that are not necessarily as liquid as people believe. And so they start dumping, commercial paper, CDs, various kinds of IOUs and short-term treasury bills and so forth. So then that market is under stress because they can no longer meet the redemptions at par dollar for dollar. So you close the money market funds. So then the pressure goes over to the banks and people line up at the banks and then sooner or later you have to close the banks. So the point is the closure is the ice or the freezing of accounts, freezing of exchanges goes from exchange to exchange until finally the entire financial system is locked down, at least temporarily, until the authorities can figure out what to do next. So that the original ice, not analogy of water freezing sequentially and all life on earth dying as applied to finance means that these different venues freeze and lock down sequentially and eventually there's no liquidity at all. Now, if that sounds far-fetched, it's not. In the beginning of World War I from August to December 1914, the New York Stock Exchange was closed for five months, just closed, as was the London Stock Exchange was all over the world. In 1933, our president, Franklin Roosevelt issued an order of closing the banks and just all the banks were closed by executive order. And he didn't say when they would reopen. In fact, they were reopened about eight days later but he didn't say that just the banks were closed. 2013, the banks and Cyprus were closed. 2015, the banks and Greece were closed. People in Athens flew to Frankfurt with empty suitcases and loaded up on euros, paper euros and flew back to Athens because the credit cards didn't work, the ATMs didn't work, the banks were closed, et cetera. The banks in Lebanon today are closed. So these things have happened historically. They do happen, not on quite the scale that I was describing, but we came extremely close, extremely close in 1998. You know, the Russia long-term capital management, fiasco rescue, whatever you wanna call it. And by the way, I had a front seat on that. I negotiated that bailout on behalf of long-term capital management, but we were hours away, hours away from the sequential closure of every stock exchange in the world. We'd begun in Tokyo, spread to Europe and then ended up in New York. The money got in, you know, the $4 billion changed hands and the press release was issued and it kind of, it didn't happen but it came uncomfortably close. Also in 2008 we saw this. So in March 2008, Bear Stearns failed. In June, July, 2008, our big mortgage institutions, Fannie Mae and Freddie Mac both failed. They were taken over by the government. And then a lot of people, we either sigh relief and said, well, okay, the problem's over. You bailed out Fannie Mae and Freddie Mac. No, September 15th, Lehman Brothers failed. And in September, AIG came quite close to failure. And Morgan Stanley was days away. Goldman Sachs would have been right behind it. And that's when the Fed intervened, truncated the process. Goldman was turned into a bank, Morgan Stanley was turned into a bank, et cetera. But my point is we've had two close calls, 1998 and 2008. Here we are again, we're not there yet, but this needs to be borne in mind. And it's one of the arguments for having some access to physical gold bullion, physical silver bullion, paper cash, don't, you know, it would be trivial to reprogram ATMs to limit the withdrawals to say $200 a day for guests and groceries. The government can say, well, I will give you $200 a day so you can, you know, buy some food, but that's all until further notice. Until, you know, whether it's the IMF or the leading central banks or treasury or finance ministries get together and work out a plan. So it's a real possibility. It has happened in some form many times. It is not far-fetched and we've come uncomfortably close twice in the last 20 years. So that's what I mean by ice nine.  My follow-up question is you mentioned the river flows. Liquidity has to go somewhere. And you just mentioned gold. What's your thoughts currently on our economic status with gold? Cause we saw for a brief period of time the liquidity crunch. So all assets are being liquidified for cash, but your long-term, let's say your long-term insights on gold currently. Well, I've always recommended gold at about 10% of your liquid assets or investable assets, I call them. And when I say that, don't include your home equity, don't include your business.  That's your livelihood and the roof over your head. But putting those two to one side, your other assets, those are your investable assets. You can put them in the bank or buy stocks or do whatever you like with them. I recommend 10% of that in gold. Now, the interesting thing about gold, you know, I recommended it at $1,100 an ounce, you know, US $1,200 an ounce, $1,300 an ounce, $1,400 an ounce, $1,500 an ounce. And people would basically yawn and say, you know, whatever and occasionally people, you know, I do a lot of public speaking and people come up to you after the presentation and they say, Jim, you know, I listened to you carefully. I agree with everything you said. I see this disaster coming. Please call me like three o'clock the day before and I'll sell my stocks and go buy some gold. And I have a two-part answer to that.  I can tell you what's gonna happen. I did tell you what's gonna happen in my books and speeches. I can tell you how bad it's gonna be, but I won't know the exact day. And if I did, I might be a little busy that day myself. But my real answer is what are you waiting for? If you agree that this kind of collapse is coming, why wouldn't you buy your gold now? First of all, at a more attractive price. Secondly, when you can get it. And the other warning I gave was that when you really, really want your gold, when you want it the most, you won't be able to get it. And that's the point. And that's the stage we are today, which is, you know, I don't know if our listeners or viewers have gold or not. That's up to them.  I'm not, I don't sell gold. If you buy it, don't buy it. That's up to you. I just want to clarify, you're recommending buying the physical gold. Correct. Correct. And we can get into the reasons for that because that is the only form of gold. So, yeah, so I kind of recommend that. But I've always said to people, what are you waiting for when you want it, you won't be able to get it. That's where we are now. So once it hits $1,600 plus everything else that's going on, which I'm sure the listeners are quite familiar with, today it's over $1,700. You know, it's volatile to see where it goes. But now everybody wants it, you can't get it. The, a lot of the Swiss refineries were closed. One of the biggest ones just reopened, but they're only working at about 30% of capacity. The Brinks Distribution Center warehouse, basically one of the largest gold vaults in the world at JFK airport in New York, is working at half capacity because they want to, you know, obviously because of the risk of infection. There's another Brinks distribution center in Salt Lake City and they got hit with an earthquake about 10 days ago. So they're still assessing the earthquake damage. The Royal Canadian Mint was closed. I think it's reopened now. The US Mint is open and producing gold coins, but they're back ordered by a year.  And most of the dealers are running out of inventory. So good luck finding it if you can. I mean, if you're the central bank of Russia, you can probably lay your hands on some. But now that everyone wants it, you can't get it, which is completely predictable. It's what we call conditional correlation. But, you know, keep trying. And, you know, my view is that gold will go much higher. And when I, I would say, you know, range of 10 to $15,000 now, so over the next two to three years and perhaps as high as $5,000 now by next year. And when I say things like that, people kind of roll their eyes like, you know, I pulled the money, or sorry, I pulled the number out of the air or I'm trying to be hyperbolic. I'm not, there's good analytical and empirical methodology behind that. Let me just give you a real quick example. We've only had two great bull markets in gold. And the reason for that is that prior to 1971, we were always on a gold standard. So you didn't have a bull market or a bear market. You just had a fixed price. Now, whether the governments could maintain it is a separate issue, but there was always a fixed price for gold with, you know, periodic very abrupt devaluations. But in terms of a free market for gold, that really dates to 1971. We've had two bull markets. One was from 1971 to 1980. Gold went from $35 an ounce to $800 an ounce. And that's about a 2,600% increase in nine years. The second great bull market was 1999 to 2011. Gold went from $250 an ounce to $1,900 per ounce. That's about a 670% gain over 12 years. So those are our two data points. So just taking the average of those two, I don't have to be hyperbolic. Don't have to go outside the boundaries. Just take the average of those two bull markets that comes to around 10 years and an average gain of around 1,300 to 1,400%. Well, if you apply those numbers to the end of the last bear market, which was December, I can tell you the day, December 16, 2015. Because we had a bear market from 2011 to 2015. We hit the bottom on December 16, 2015 at $1,050 per ounce. So apply my 13 times gain and my 10-year horizon. Come forward, you get to $13,000, $14,000 an ounce by 2025, although no reason to think it couldn't be higher than that even sooner. So that's not an extreme forecast. And when you're doing absolute dollars, and you're not a logarithmic chart, but just absolute dollars, each $100 per ounce gain represents a smaller percentage of wherever you started. So you can see those very large gains gapping up towards the end of a bull market like this. So even at $1,700 an ounce, which is where it is lately, there's still plenty of time and plenty of room to participate. But again, my answer to people is don't wait. As far as what I call paper gold. So yeah, people buy Gold Futures on the Comax, they'll buy unallocated gold forwards from banks who are members of the London Bullion Markets Association. They buy Gold ETFs. They buy shares and gold funds, et cetera. And they go, I've got gold. And I say, no, you don't, you have a contract. And let's see how the contract is honored. And exactly as I said, when you think there's liquidity, but everyone wants it at once, the liquidity disappears, that's called a conditional correlation. But the same token, when gold is most in demand, we're not quite to the super peak frenzy stage yet. I think we'll get there, but we're not. But as we approach that, you'll find these contracts will not be honored. And for example, it can just be very specific. The Gold Futures contract on the Comax, the Commodities Exchange part of the CME Group, trades electronically. So they have designated gold warehouses. There's a certain amount of physical gold in the warehouses, but that amount of physical gold is trivial compared to the value of the gold contracts outstanding. So what would happen if all the people who were long futures stood for delivery? And there's a procedure for that, which is, you know, you just put in notice, say, you know what, I don't wanna roll over my contract, I don't want to pair it off or buy it back, just send me the gold. And you can do that. And they've always allowed that because they wanna maintain the basis between the physical and the paper gold prices. But if the open interest is 100 times the physical gold and everyone wants this gold, are you gonna get your gold? The answer, of course, is no. And so they have a rule. I'm actually enough of a geek. I've read all these rule books of all the exchanges. I'm a lawyer, by the way. So there's a big part of my career is kind of regulatory practice. But every major exchange has a rule that says they can change the rules. And so when they do that, everyone wants, oh, you know, you changed the rules. They go, well, no, we didn't. We have a rule that says we can change the rules. We got red. So what they do in these situations, it's not quite, it isn't the train wreck people imagined. It isn't in the following sense. When the demand for delivery overwhelms the amount of physical gold, the issue in order that says you can trade for liquidation only. What that means is that if you're long, you can sell and close out your contracts and collect your winnings, or you can roll it over to a future month. But you can't get the gold. You can't get the physical gold. And that will kind of save the exchange. But you're sitting there saying, well, no, no, I want my gold. This is why I did this. I'm sorry. They'll send you a check for your profits. I'm not saying they're gonna steal your money, but they are gonna deprive you of the opportunity to get your hands on gold. And the exchanges all say, we are not a source of supply. We only allow a limited amount of physical delivery to maintain the basis, but we're not a source of supply. So you'll be disappointed there. Now, LBMA, unallocated gold positions or gold forwards, the word unallocated should give you a clue. What that means is you have one 400 ounce bar, they could have tons of it, whatever, but just use an example of one 400 ounce bar. They can sell that bar to 100 separate investors and they do. So there are a hundred people out there who think they own a 400 ounce bar and they have a contract that says that, but there's only one bar in the vault. It's the same thing I described with the futures exchange. Now, those customers can send notice to the bank and say, please convert my account from unallocated to allocated. What that means is that, okay, now there's a bar with a serial number and there's a register, a ledger, and your name's on it, you own that bar. Well, how are they gonna do that if everyone, if a hundred customers say, please convert to allocated and they only have one bar? Well, they're gonna have to go out and buy 99 bars in my account. This is fractional reserve for gold. Well, no, it is, except there's even more leverage in the banking system, if you can believe that. So they're gonna have to go buy 99 bars to do that. Well, I just described you at the beginning of the interview how you can't get any gold right now. Yeah. Refiners, so they can't do that. So what will they do? Again, the geek in me has read these contracts, there are force majeure clauses, there are termination clauses. They'll send you a notice saying, sorry, your contract has been terminated as of the close of business yesterday. Here's a check for your profits. Nice knowing you. And you'll say, well, no way, where's my gold? I'll say, sorry, read the contract. And so, and same thing with ETFs, I don't have to get into all the technicalities of all these, but my point is simply, an ETF is not gold, it's a share. It's a share and a trust right on the new stock exchange. What if they close the exchange? What if, et cetera. So my point being, people who think they have gold in paper form via futures, forwards, unallocated forwards, ETFs, et cetera, don't have gold. They have contracts. Contracts have escape clauses, termination clauses, force majeure clauses, various covenants. They can all be terminated, they will be terminated when the time comes, and those people will not get their gold. Jim, I wanna thank you so much for coming on the show, sharing your insights. Final question, if people wanna learn more about your read your books, what's the best resource? Thank you very much. A couple books that are selling very well right now, and I think are most on point. My book, The Road to Ruin, actually has a whole chapter on Ice Nine, which we talked about. I have a shorter book called The New Case for Gold, and a lot of things people think they know about gold are actually not true, and I go through them one by one, so hopefully that's informative. And my last book, Aftermath, which came out last year, more or less predicts to a T what's happening right now, but it's still valuable in terms of wealth preservation strategies. Thank you, Jim. Have a great day. Thanks. Cheers.


Her name is Vanessa Kiesler, who is now at the state. Vanessa came up to me and she said, you know, Barbara, there's this thing called the Michigan Merit Curriculum, and we really should be looking at its impact. And the idea for us to start looking at the impact of the Michigan Merit Curriculum was truly Vanessa's. And I said, OK, well, let's go to the state and talk to Tom and see, in fact, if we can get some state data and be able to do this. So we went to the state and said to Tom, Tom, we'd like to be able to do this. And Tom said, well, you're late. Brian Jacob at the University of Michigan has already asked us for that. And I thought to myself, hmm. Brian Jacob, I remember when he was a student and worked with me at the University of Chicago. He's so smart. No wonder he's here first. So anyway, I called Brian up. And Tom said, we're not going to give two letters. We're going to give one. And we haven't written that letter yet, so I suggest you work together. I said, OK, well, that sounds like a very good idea. It's time for the young to take over. And I called Brian and I said, you know, how about if we come together on this and look at the impact of the Michigan Merit Curriculum? And Brian was kind enough to say, oh, that's a great idea. Now, there's another side to this story as well. And I was going to wait till Mike came. But when Mike became the superintendent not too long after that, I had come to Michigan. And Mike had said to me, you know, you were involved with that Tony Breik thing at the University of Chicago. Don't you think maybe we could have a consortium here? And I said, well, you know, I could work on that. And I promised Mike I would work on that. And I've been working on that now for seven years. And I could say that having the University of Michigan and Michigan State and MDE and CEPI all come together to look at the impact of the Michigan Merit Curriculum with all of that wealth of data that's in our state has really begun to form that consortium. And it is really, I think, a tribute to everyone that's in this room that we can get past our differences, that we can come together as a group, that we can start to work on things that have real true significance to our children's lives. And I'm just so proud that we have been able to kind of, which was really, as they say, an arranged marriage come together without burning up. So we have managed to work out our differences. And this is the really great part about doing this work together. The people from the Michigan State side, we're sociologists and our colleagues at the University of Michigan are economists. So you just try and think about economists and sociologists, very different lenses on the world. But I think we've informed each other, we've learned a lot from each other, and the presentations today are really because of the work that we've been able to do together. Now, who are we all? And I would like to say, as I explained before, Brian Jacob, he's our leader in force, who is joined by Susan Denarski, who is also an economist at the U of N, and Ken Frank, who is a sociologist from Michigan State University. And there is Tom Howell, who is from CEPI. I don't see Joseph Martino from MDE, but I do see Vanessa Kiesler. And so pretty much those are the PIs for this very huge effort that the Institute for Education Sciences in the US Department of Education was very happy to see our proposal. First time out of the box, which is really an amazing situation for several million dollars over a five year period, which will probably end up being much longer than that, to look at the impact of the Michigan Merit Curriculum and also the scholarship program, which we know sunsetted, but we still are going to be doing some very interesting things with the Mission Promise Scholarship Program. So I think that one thing to remember is that when this particular proposal was sent to the Institute for Education Sciences and it was approved by the US Department of Education, that these kinds of proposals get the highest level of scrutiny that can possibly be looked at. And I think that in fairness to my colleagues, I would like to say that the reason we were funded really comes through the efforts of Brian and Sue and Ken and our effort was much smaller, that is at least mine, in terms of putting together a really winning proposal. Anyway, now what have we been up to? Well, what we've been up to for the past several years is bringing together teams of graduate students from both of our institutions to work together. And I will admit where we might have had our differences, the graduate students had less differences and they really have been really quite extraordinary. They've been working together taking all of these different data sets. And if you look in your gender books, it will describe to you all of the different data sets that have come together here. And we have really been all of us working very hard. Now you have to remember that all of these data sets are in the department in the state and to be able to get a data set, you have to go through a lot of different kinds of procedures. That is a very good thing. Because essentially what's happening is we're protecting the children of this state so that all of the kinds of confidentiality procedures and the kinds of procedures that say what are you going to do with our data are followed and they're followed to the rule. And we're happy about that because that means that we are doing what we're supposed to be doing. And I would say that for us researchers we're very happy about that. But that couldn't have happened and all of these amounts of data that we have could never have happened without our state partners. So what I would like to do is I'm going to call out a lot of people's names and I want to start and ask you if they would please stand because we're not talking about like hours of work. We're talking about years of work, days of work, hours of work and I'd like everybody to please stand. So first of all, I'd like to say as I had said before to Tom Howell, Vanessa Kiesler, Joseph Martino and then our data analysts at the state who have been really incredible answering our questions, working with us. And I know there are times when they say, oh no, not another email from those people. So Trina, I see you over there. Trina Anderson, Rod Bernoski, Melissa, you're over there. Hiding, you shouldn't be Laurie Campbell or in Christmas, Karen Conroy, Carol Jones and Mike McGrory. Could you all please stand so we can give them an applause, please. And then you have to say, well, with four very busy PIs, who's really running the show? And I'll tell you who's running the show and if I can remember to say, starting with his names correctly, that would be a real, because when I look at his name in my emails, I always say he melts instead of his names, which is Steve Hamels. And Steve is a postdoc who's been with us for two years, soon to be on the job market, so anybody in the room, we are very proud to have Steve. And this year he has been joined with Rachel Rosen and Beth Covey, also as postdocs. And let's just say that they're the people that really control the rest of us, which we all need controlling on. And then we have, of course, our graduate students and they're all here, so let me just see if I can pronounce any of their names correctly. Monica Batt, I thought I saw him. No, she, okay, Quentin Brummit, Paul Burkander, Hassan Anadi, Monica Hernandez, Joseph, Jonathan Hersheff, okay. Emily House, Joshua Hyman, Tamara Linkau, she's not here anymore. She's, it's not that she's not here anymore. She graduated and went on and took a job. That's what we try and do with all of our people. Kate Novernoff, Elizabeth Quinn, Gwansaw, Nathaniel Schwartz, and Chris Brozek. Up guys, up guys. Steve, you gotta get up too. Come on, let's go, Steve, Rachel, Beth, let's go. And then finally, you've got something in your hand. There's things on the wall. There are speakers that are going to talk and that just happens because there is Julie, Amantanero, DeCastro, and Christina Mazzucca. And they're the right, the left, the feet, the hands of certainly me and I know that's true for our team at the U of M as well. And I want to say to both of you, thank you so much because this conference is really yours. And Julie, I know that you've worked very hard on this and Christina and so you're our friends. So please stand up and let's get round to the applause. So what we're going to do, the way we're going, we have arranged this is that each of our PIs is going to give a presentation and then we will take questions after the presentation from the PIs from the floor. We will also have a panel later today. When we have our panel, we're going to be passing out some cards and we're going to take your questions to the panel on those cards. And then I'm going to kind of wrap things up at the end and we'll see in fact how that all goes. I hope that most of you will be able to stay for the day. The most important thing to remember about what we're trying to do here is that this is the beginning of our project. These are not the things that are going to happen all the way at the end, but it's certainly everything that we're presenting today is very real and these are things that have been done with the best methods that we have to bring to the table. You've got some of the best statistical expertise of the three people, my co-PI sitting at that table. And as I told you before, when I was asked to pick up the phone and call Brian, I knew that I was calling somebody that had a lot to bring to the table, certainly more than I did. And then I had the pleasure of meeting his co-investigator from the U of M, Susan Denarski. And this has been one of the two joys for me because here is a professor of public policy, education and economics at the University of Michigan who is spectacular. So let me just say that she holds a PhD in economics from MIT and an MS in public policy in NAB in social studies from Harvard. By the way, Brian has a social studies degree from Harvard as well. I don't know what it's about those social studies people at Harvard, they sure know how to put out great economists. Anyway, Sue is a faculty research associate at the National Bureau of Economic Research. We all know that very fancy place. And she's been a visiting fellow at the Federal Reserve Bank of Boston and Princeton University. She's the editor of the Journal of Labor Economics and Education, Finance and Policy. Her research and some of you I think here in the audience are participating in her work on charter schools, demand for private schooling, historical trends in inequality and educational attainment, and optimal design of financial aid. Her previous research explored the impact of grants and loans on educational attainment and distributional consequences of tasks incentives for college savings. I wanna say that Sue, very similar to some of our other folks here has testified at the US Senate Finance Committee, the US House and Ways Means Committee and the President's Commission on Task Reform. And she's been funded by the Institute for Education Sciences, the Russell Sage Foundation and the National Institute of Aging. As you can imagine, this is a pretty star-studded team. So with that, I would like to welcome our first speaker, Sue Denarski. Sue, please.


Meeting new people can be awkward and intimidating. What are some simple and effective ways to keep the conversation going? My friends here with me today. I'm Erin. This is Suzanne and Dion. And we've been performing improv for over a decade. So we wanted to share with you three principles of improv that'll help keep the conversation going. Point one. Yes, Anne. Being positive and agreeable is great, but it's simply not enough. If you're only agreeable, it can stall the conversation over and over and make you feel stuck. Do you know how much I love that you get all dressed up in your clown makeup to put on the ant circuit? Do you realize that I got the idea from watching you wash the ants? Watch ants. Adding to the conversation allows the other person to feel more comfortable sharing and it gives them something a little bit more to latch onto in the conversation, which leads us to our second improv point. Stop planning and listen. Yes, go into the interaction open to whatever it may bring instead of going in with a set plan. Otherwise, you're stuck in your head just waiting for the other person to stop talking so you can make your point. As we say in improv, all of the answers are in your partner. Listen and respond. It also makes it a lot easier for the other person to know that you give value to what they're saying. And that brings us to our third and final point. Comet. Don't shrink away or act emotionally whenever things don't go perfectly as planned. Committing to a positive attitude makes you exude confidence and therefore the people that you're speaking to will feel comfortable in that interaction because you feel comfortable. So to recap saying yes and but not literally basically just staying positive and adding something to the conversation. Point number two, stop planning and listen. Go into a conversation open to where it may lead you. And point number three, commit to a positive attitude. So obviously there are a few more improv principles that might apply to your everyday conversations, but we wanted to give you a little sample. So maybe you've taken an improv class and you have an idea of something you'd like to share. Drop down in the comments below and as always subscribe if you enjoyed this video. I'm Erin Suzanne and we'll see you next time.


Okay, very good morning to you. I hope you're doing well. It is Monday the 11th of January Hope all your friends and family are safe and sound given everything that's going on and Couple of things then to have a look at in this briefing basically an update of the roundup of the weekend news Quick look at some of the major themes to be aware of and also what is the market sentiment here at the open this morning? Before I begin don't forget. We've had some really great Exclusive content for our community on amplify live. So do check that out in the link below or if you're watching this on YouTube Don't forget to like and subscribe to the channel. It would be much appreciated. But look, let's get straight into it look at the charts this morning and continuation of Dollar strength at the moment the Dixie's trading up about zero point three percent has weighed on both major currency pairs here in Eurodollar and cable a little bit lower at the moment cable in the future is down around 135 hand or underperforming its euro counterpart slightly on the back of still a bit Apprehension of the potential for further force coming more stringent knockdown in the UK otherwise elsewhere stock futures Moderately lower albeit very marginally. So nothing more I'd say then perhaps a little bit of profit taking given the run-up to all-time highs Last week the overnight Asia Pacific session generally was was mixed Japan was out on a market holiday Chinese inflation figures CPI point two percent year-on-year above the expected point one CPI PPI minus 0.4 percent against expected minus 0.8 not really Any impact or read across into the the UK European open Otherwise elsewhere the 10-year T-notes bottom right trading flat at the moment It's no no real new definable yield movement seen as yet Gold a little bit of pressure seen at the recommencement of trade in the overnight session However has just gradually recovered Running into some near to resistance here in the futures in around 52 1852 being the Reconveniment highs in overnight and the low on Friday afternoon But up around nine dollars at the moment again. It was beaten down significantly last week on the Rising yields on the back of the blue wave Which was the most dominant theme, of course in the crude market? fairly similar price pattern in fact to what we've seen in the equity space not really one definable piece of news or anything new related to OPEC Pase but a bit of profit-taking perhaps on the extremity of the Run-up that we had last week. Well, see we had surprise soundly cut in production still a degree of optimism over the demand side on the roll out of the vaccines globally And so we hit the peak on a daily here at 52 75 just backing off a little bit But looking for some support lower down from these previous levels We can see going back to 2019 if we were to pull down to a kind of 50 50 in the 50 dollar handle area That's as big supportive going forward The other market has probably seen the most movement this morning is Bitcoin not something I Typically look at but obviously it's had such a big phenomenal run to kick off the year I mean if we go back to where we were on the 31st of December to the high that we saw at the end of last week We've sought the best part of a game of nearly 50 percent, but if you look at it from that point to where we are this morning, which is Literally just a weekend trade and and this morning the first couple of hours. We're already down close to 23 percent at the low, so I Hope any new traders haven't been caught out there Getting involved given all the hysteria that Bitcoin was creating last week just the nature of the product I guess in that sense But let's delve straight into some of the headlines and talk about what we've got to look out for this week Don't forget in terms of the technical analysis and the trade setups The guys are gonna go over that and fall on the live stream on amplify live So I forget to check that out, but getting straight into some of the headlines I'm gonna start off with talking about the UK and COVID-19 and Britain is on course to have immunized its most vulnerable people against COVID-19 by mid-February So far our third have been done and they are aiming to offer a shot to every adult by the autumn with some two-minute people Having already received their first dose as according to Matt Hancock the health secretary in the UK So remember mid-February was the deadline they had previously issued some question marks and whether or not that is going to be Hit just given the relatively slow adoption Of the vaccines at the moment being administered Particularly with the likes of some of the things we were discussing last week It's not that Astra can come in start just offering millions upon millions Virals of the vaccine doesn't quite work like that for the manufacturing perspective So it's gonna take some time the speeds it seemingly has time to pick up The number of UK vaccination what they're the government recording mega centers is set to also pick up pace in locations Like sports stadiums and conference centers across the country as of the coming weeks That's what's in the plan in the pipeline at the moment as they look to really Build out the speed of that inoculation program So that all sounds very positive and I guess the main thing I've looked for here is Really whenever we've had a government put forward a timetable for this type of thing They've nearly always inherently missed it. They always tend to err on the side of Optimism positivity whatever you want to call it. So there's always room down for disappointment in that regard and already as we were Hearing last week I don't think it would be much a surprise at all to see the current state of the lockdown rolled out as far as even Easter, which would be the beginning of April and remember that the government was looking to Tentatively look to review the current status of the UK lockdown around mid-February on the week of the 15th to then Make any alterations on the week of the 22nd But I'd say that's probably a little early at this point All things remain equal and particularly when we start to as we can see on this graphic look at some of the actual COVID-19 case rates hospitalizations and death counts. I would say it's more like that's going to be rolled over Secondly to that as well. I'm sure you saw lots of shots in national press over the weekend about Just the public's lack of adherence on quite a large scale to the current state of the lockdown and what that's leading to then is a lot of difficulty given Mobility rates are generally quite a bit higher the comparative to the lockdown that we saw in March Which obviously was fairly effective on getting on top of the virus at the time this time round a more lack of adherence to the stringency of those rules In combination with a more transmissible virus and this new variant of the of COVID-19 has meant that There's some talk now starting to emerge that government could take more strict measures with this lockdown There was a meeting apparently between UK Prime Minister and Boris Johnson Last night. However, the latest there that I've heard from government insiders Insisted that the immediate priority is to enforce the existing rules and a lot of that rationale being based upon There hasn't been enough time yet to see whether this latest lockdown in its current form has paid dividend or not And therefore it doesn't need alteration But that's definitely something which could have some ramification Obviously, Brexit has been a little bit of a slight issue the COVID-19 the virus itself and also then the subsequent lockdowns are still the major thing here, which is influencing kind of global assets, but particularly in the UK It's very Cute at this point of time just given the fact that this number here the COVID cases and deaths is generally under reported the weekend So today's number could be definitely one to account for and you probably read at the weekend as well a lot of the NHS trusts Particularly in London. I think it was 16 out of 21 of them over Basically, we breaching their safety thresholds, which is around 92 percent of capacity and so a lot of these things obviously very troubling and Again, the we've crossed for sterling here at the moment I would say is in the coming days if these numbers continue to get higher and quite drastically showed so And the public continue to show a general On average a lack of respect for it during to these rules And it's almost inevitable that two things the lockdown is going to get more strict And it's going to go on for longer and that is going to have some economic impacts over the medium term Medium term in my world. I'd say the coming weeks and therefore probably needs to be reflected in the price of sterling Particularly as well. Don't forget with cable. It's been relatively high Of course with the fairly smooth brexit situation And so there's room for some downside particularly in the context not only there's a negative developing fundamentals for the pound But in the context of a resurgent dollar at least in the short term on the back of repositioning for someone surprised The blue wave from last week. So that's that's the latest there Talking about Trump So there's been a lot of headline news of course given that pretty shocking episode that happened on Capitol Hill last week Democrats will launch a second attempt to remove Donald Trump from office today They will introduce articles of impeachment to the House. The Senate will not reconvene until the 19th Of this month so still some time Senate Republican leader though Mitch McConnell already said on Friday To give you some context that a trial cannot begin before then unless all 100 senators consent to it Which is an exceedingly unlikely? Development as Trump obviously still has a number of despite all that's gone on all the criticism he's faced He still has some supporters within the Republican Party Separate to that a growing number of Republicans over the weekend particularly on Sunday have criticized the president for his role But none of them have said that they would vote to convict him of wrongdoing in the Senate. So my overall take here with this whole impeachment thing invoking the 25th Amendment and so on I Think it's all just quite frankly noise again with the greatest Kind of sympathy and sensitivity to the event and the people's lives who were impacted last week and what that means for Democracy and so on that aside as far as markets are concerned. I think impeachment is not going to happen Even if it does get brought about it's not going to go through we've been here before And so it's all a bit of distraction and one I probably say is one to be ignored at least for the time being All things being equal Reports have suggested though that obviously time is ticking now and Trump and his dwindling circle of advisers They are believed to be planning a defiant final week in office According to people close to the matter Trump is believed to be preparing at least one more round of pardons and also We'll try a final time to advance his administration's efforts against a big tech Obviously probably somewhat now even more motivated to do so given his censorship Silencing he's had from the likes of Twitter and Facebook in particular What does this all mean for markets? I mean I've made a note here to myself that I don't think a great deal From from a trading perspective, but politically I think it is very meaningful between an impeachment movement and as I said Trump's censorship by social media I think political Polarization is not going away any time soon neither is don't Trump going away anytime soon That's even despite the the blue waves that's happened at the moment So yeah a lot of it's an interesting time in the US politics lots challenges being met And there's a lot of social division at the moment I don't think any of these kind of topics are going to go away from a markets perspective I would say there's there's other things much more important right now like COVID-19 To to be confronted with The other thing we're looking out for this week then and this moves on To the other big thing aside from COVID vaccines, which is by the stimulus plan Obviously the blue wave now with the Democrats having full control of both chambers of Congress is is going to be influential And president-elect Biden is due to outline his stimulus plans on Thursday Biden has guided that the price tag will be high and in the trillions and Is expected to include plans for a $2,000 stimulus checks and more generous unemployment assistance and Enhanced aid to city and state government. So again, this is what Why the market was behaving in the way that it did last week with equities all-time highs with yields breaching the 10% in a 10-year gold coming under pressure There's a lot of pre-positioning for this so seeing the details around it It's going to be particularly interesting to see that's going to come on Thursday Otherwise, let's just take a look at Canada for this week and kicking off today. It's a fairly quiet day There are a couple of speakers that definitely warrant monitoring the bolded one here You can see easily President Christine Lagarde moderates a panel later today. That's going to be a full 240 excuse me London time Worth noting that this is Lagarde's first public appearance since the new year 2021 She speaks both today and Wednesday and may provide some clues then for implications for monetary policy given the current state at the moment of the European economy Developments on COVID that we've had given there's been in relative silence for them for a few weeks over the Christmas New Year period This then will be accompanied by the ECB minutes, which we're going to get on Thursday separate to that one thing to be aware of is that drone power is also speaking this week and He's speaking on Thursday. He's taking part in a Princeton economics webinar So not expecting too much there But just wanted to bring it to your attention that these be present and the Fed share will be speaking this week So Monday Wednesday and Thursday Otherwise looking further forward Tuesday's economic data slate. Yeah, relatively quiet Not really too much to speak of so then we're going to Wednesday when we do get the US CPI so from a data perspective You do have US CPI on Wednesday, and you've also got US retail sales on Friday now Which weekly jobless claims as well will be another one to be monitored just given the impact the further restrictions in the US Are having given the situation of COVID Retail sales probably fell for a third straight month is what analysts are expecting The auto and gasoline components likely rose but spending in bars Restaurants probably plunged as you would imagine given the renewed COVID-19 restrictions Inflation so the figure we're going to get see on on Wednesday from the US is like to move higher on gasoline prices But outside of that price pressures as you can imagine remain relatively benign at the moment in the US again with consumer confidence generally decreasing and with the overall state of The economic environment and activity at this present point in time One other thing you might have mentioned here or might have seen here on this calendar is there's quite a few Bank of England speakers You've got ten railroad speaking and quite interestingly on the topic of negative rates remember last week This given some of developments that we saw with COVID-19 That the money markets have been bringing forward the pricing in as the potential for negative rates Further into near term to August of the summer of this year And To remember what can we expect today? She's speaking at 2 p.m. London time I don't think a great deal She's been an advocate of it on the relative success as she sees it that it's happening like such a pan and the ECB Personally, I think she's just being used as a bit of a pawn by the MPC to just plant the seed of the idea The Bank of England are willing to seriously entertain it as a tool rather than anything more than that is my my kind of view So I'd expect her to be fairly similar to what she said before then you've got Bank of England's broadband gives a speech on COVID and composition spending Broadband is the deputy governor of the Bank of England So I wouldn't expect him to deviate too far from the general Party line at this point in time But probably both could be quite interesting to watch going going forward general consensus here is that As much as negative interest rates given the situation Is is quite challenging at the moment in the UK due to COVID-19 And obviously a lot of it will be hinged on the effectiveness of the rollout program of the vaccine but There's a step stone approach to monetary policy Don't forget and so things like more incentives for banks to lend under the term funding scheme faster pace of Bombing under the QE the asset purchase program overall probably Steps to take before then adopting that of negative rates. So That's just giving you a bit of context as to as to things So that is pretty much it that is the weak as a whole so overall it is very quiet in terms of A number of major economic data points certainly not as busy as last week the main thing is probably US CPI Wednesday jobless claims Thursday retail sales Friday number of Central bank speakers throughout the week including then as I said the guard and power And then then the other big thing of course continues to be a dominant effect is COVID-19 The situation in the US mainland Europe in the UK needs to be monitored Any talk about rolling out all more stringent lockdowns could be impactful Of course looking out for any updates on the vaccine with the tail risk being disruptions to manufacturing Distribution which might have a negative effect and then looking out for Joe Biden at the end of the week to roll out the details Of what he intends to do now With his blue control with the latest stimulus measures when he comes into power In just over a week or so as time That is it so going to leave it at that that you guys get on and have a good day and week ahead. Thanks very much


Before, how we would actually work to do business together was really undefined. We've seen battles in the courts, we've seen protests because there wasn't proper consultation, because there wasn't proper consent. And now we want to see a change, we want to see a reset. This legislation is one more step to be able to build trust-based relationships. Where indigenous peoples are respected. Where we are holding each other up and benefiting equally. And this province will succeed in economic development from having indigenous peoples at the table, it's going to lead to a lot more prosperity for all of us in a good way. We're doing things the right way for the first time and there's going to be positive changes. Now is the time to be on the right side of history. We want to live in a relationship where we're working together, making decisions together. And I do believe if that happens then we will see a brighter future.


J-E-L-L-O The Jello program starring Jack Benny with Johnny Green in his orchestra. The orchestra opens the program with she shall have music from the picture of the same name. Music Summer's really with us now. Today's the day when summer becomes official. But hot weather isn't so hard to bear nowadays. Air conditioning gives us cooler movie houses, restaurants and trains, and jello gives us cooler meals. For jello is deeply refreshing, delightfully cool and satisfying. It's also a very quick simple dessert to prepare. You can make jello well ahead of time in the morning and then pop it into your refrigerator, or you can make it on short notice because it's set so quickly. And when you bring jello to the table, you've of every reason to be proud. For whether you serve it plain or in fancy molds, whether you put fruit in it or add whipped cream, jello's delicious true fruit flavor is always a very welcome part of the meal. Of all gelatin desserts, jello and only jello brings you that extra rich fruit taste. Use it to brighten your main use this summer. Use it whenever you want a warm weather salad or dessert. Only just be sure you get genuine jello. Look for the big red letters on the box. They spell jello. Now we bring to you for the last time this season that worn out master of ceremonies, Jack Benny. Hello again.  And believe me, folks, I'm sure due for a vacation. Well, aren't you going to take one, Jack? No, Don, I can't.  I accepted that butler's part they gave me. Well, that's practically a vacation. Oh, I wouldn't say that. You know, they promise to build it up a little. What are you planning to do this summer, Don? I'm staying right on the jello summer show, Jack. I'm going to take your place for the next three months.  Yes, sir. And oh boy, I can hardly wait. Well, all I can say is good luck to you, Don. And I hope you do a good job. Of course, not too good. After all, I do want to come back. Don't worry, Jack. I'll hold myself down a little. Oh, thanks, pal. Thanks. Hello, Jack. Oh, hello, Mary.  He's stepping into my shoes. He is. Gee, Jack, what are you going to do? Oh, I'll just walk around in my stocking feet. What are your plans for the summer, Mary? Oh, I haven't decided yet. I don't know whether to go to Honolulu, China, or buy an ice cream cone. Well, if I were you, Mary, I'd get an ice cream cone. Sure. I can always go to China. I think so. Hello, Jack. Happy Father's Day. Oh, hello, Kenny. Say, this is Father's Day, isn't it? I forgot all about it. Isn't that awful? Gee, you know, I intended to send Dad a pie or something, but it slipped my mind. I certainly am negligent. What does negligent mean, Jack? Keep. It does not. Anyway, Mary, did you remember Father's Day? Did I? I just sent my mother the swellest book. That's fine.  Papa can't read. Mary, you really need a vacation. What are you going to do this summer, Kenny? Oh, I'm going to take a long rest, Jack. I'm pretty tired. Well, I don't blame you. I know how you feel singing a whole song every Sunday night. See, I don't see how you do it. Yes, now I have to stand up to sing too. Next year we'll get him a couch. Well, Kenny, you take a real nice vacation and relax. Oh, Jack. Yes, I'm. Johnny Green wants to know if you brought your violin with you tonight. Oh, he does, uh, do you hear that, Mary? Johnny wants to know if I brought my violin.  Yeah, he waited until the last program. Oh, Johnny, were you looking for me? Yes. Say, Jack, did you bring your violin along tonight? Yes, sir. I have it right here. You want me to play the next number with you? No, we're looking for a fly swatter. Oh, yeah.  This summer I'm going to take a few more lessons and brush up a little bit. Then you'll see. A few more? Go on, you never took any violin lessons. I did too. Then your teacher didn't. Oh, well, let's drop it already. Now, Jack, now, Jack, don't let it get your goat. This being our last program, we made up our minds to give you a good revving, but really and truly it was all in fun and we love you. Don't we, fellas? You bet. Say, Don, I don't mind. I see you did that together very good. After all, you know, it's part of the program. By the way, Johnny has something particularly that he wants to say to you. He has. What is it, Johnny? We have a little surprise for you, Jack. You've been a great guy to work with and you've always treated this square and... Oh, well. Well, so on behalf of the boys in the orchestra and the members of the cast and myself, I want to present you with this pure Irish linen handkerchief. Oh, gee, a handkerchief. Oh, boy. I really don't know what to say. It's things like this that made Scotland famous. Did all, did all of you, did all of you give it to me? Yes, Jack. The orchestra boys, each chipped in two dollars and the rest of the cabs gave from five to ten dollars a piece. Gee, you whiz. How much was the handkerchief? A quarter. What happened to the rest of the money? Well, we had about 70 dollars left and we didn't know what else to get you. So we all went out and had a good time. Well, I certainly do want to thank you for the handkerchief and the good time. And I want to thank you, Jack, for giving us inspiration to carry on. And I want to thank you, Jack, for giving us help and encouragement. And I want to thank Jello for giving us six delicious flavors, strawberry, raspberry, cherry, orange, lemon, and lime. Why don't you say that for next week? You'll be running the program yourself. And now, ladies and gentlemen, I want to thank Kenny Baker in advance for singing the next number called Would You from the Motion Picture San Francisco. Sing, Kenneth. I was Kenny Baker singing Would You and for the last time this season, Kenny, I'm going to say that was very good. And he stood up to sing it too. Say, Jack, what about your picture? You settled that argument with Paramount, didn't you? Oh, sure. They finally gave in. You know, we start shooting tomorrow. Who's going to be your leading lady? That's the only trouble, Mary. I'm having such a hard time finding one. That's funny. I didn't have any trouble. I just found the cutest leading man. Oh, boy, is he handsome. But, Mary, you're not going to make a picture. Who wants to? Oh, I see. Who's that knocking on the door, Mary? The sound effects man. Never mind that. See who it is. Uh, come in. I'd like to see Mr. Benny, please. Tell him it's Mr. Lyson. Oh, hello, Mr. Lyson. Come right in. Oh, Mary, this is Mitch Lyson. You know, the man who's going to direct my picture. Hello, Mary. Hello. Gee, I wonder if he likes me too. What brings you here, Mr. Lyson? Well, Jack, you know, we start shooting the picture tomorrow. I thought I'd come over and get a few things straightened up. Oh, that's fine. I brought my cameraman along. This is Mr. Sparkle. We call him Sparky. Oh, how do you do? How are you? Who's that third fellow, Jack? Quiet. That's the camera. Gee, I... Gee, I hope, uh, I hope I'll photograph all right. I think you'll be okay, Jack.  A butler with a hat on. Well, won't I, won't I be too tall? Well, you can take your shoes off. That's fine. A barefooted butler with a hat on. It must be a society picture. Mary. And another thing. Those ears should go back a little. My ears. Well, can't you pull my hat down over them? Well, you can try it. Now, let me see.  My eyes. There goes that hat down again. Quiet. Quiet. What do you think, Sparky? Oh, I guess we can move his eyes back about an inch. Now, wait a minute, boys. Anything for... anything for art, but don't get him too far back. We won't. You know what I mean. I don't want people whispering in my eyes. You know, Sparky, his legs could be straightened out a little. Huh, a lot. Gee, Jack, outside of your face and figure, you're perfect. Yeah.  I want you to be up in your part. Do you think you know it? I think so. Let me hear it. Now, remember, the lovers are seated on the Davenport. And as the phone rings, the butler walks in. That's me. Yeah. Now, read your line. All right. Madam, you're wanted on the phone. How's that, Mr. Lysen? Take it again. Madam, you're wanted on the phone. How's that? Well, I think you can get more out of it. Can I hear it again, please? Madam, you're wanted on the phone. Was that better? Now, look, Jack, you read the line all right, but you're not living. I'm not. No, you must think of what you're saying. Now, when you walk into that room, whom do you see? Somebody else getting the job. Mary, let me guess it, will you? I see my employer's wife in the arms of her lover. Exactly. And you have a message for her, haven't you? Yes, sir. It's an important message, isn't it? Yes, sir. Then let it come out. Now, come on, try it again. Relax. Relax! Madam, madam, you are wanted on the phone. How's that? That's not it at all. Now, let me try and explain the situation. I wish you would. Now, first of all, where is this woman wanted? On the phone. Exactly. She's not wanted on the chandelier, is she? No, sir. No, sir. And she's not wanted on the ceiling, is she? No, sir. Not unless she's a fly. Please, Mary. She's wanted on the phone. Yes, sir. Then say it. For the love of my sir. Madam, you're wanted on the say it. The phone! The phone! The phone is wanted on the say it. Oh, I don't know what I'm saying anymore. Gee, it got me all excited. The phone, the phone. Gee, what a phony part. You got me all mixed up. Now, listen, Lyson. You've been lousin' up this part wrong. In the first place, Mr. In the first place, Mr. Gensler said my part would be bigger. Oh, he did, eh? Yes. All right, I'll tell you what. Instead of saying phone, say telephone. Well, thanks. Madam, you're wanted on the telephone. Say, Jack, I know how you can make your part even bigger. Oh. Well, if the madam gets a divorce, you could say, Madam Ozel, you're wanted on the telephone. That's right. If she happens to be French, I can say, Madam Ozel, for mom and tears, you're wanted on the telephone. Oh, wait a minute, Jack. Don't try to hold the picture. I'm not. Don't worry. Come in. Hello, friends. What are you doing here? I got a very important message for you. What is it? You're wanted on the telephone. Eureka! That's it. That's the way I want that line read. Come up here, you. Are you alluding to me? Yes, you, Slappy, want you to read my line. All right, but make it Slappy. I left a hot iron on Mr. Gensler's fence. I wish Gensler was in him. Now look, I want you to show Mr. Benny how to read that line. What line? You're wanted on the telephone. Wait a minute, Mr. Lysa. This guy is no actor. He's a tailor. That's me, Robert Taylor. Imagine already young playing opposite Sleperman. What can I lose? Well, we're losing a lot of time. Now would you please try Mr. Benny's line. Madam, you're wanted on the telephone. Madam, you're wanted on the telephone. Fire again. Madam, you're wanted on the telephone. Want some more, please? Madam, you're wanted on the telephone. Hey, that's fine, Slep. Is that the way you want me to read that line, Mr. Lysa? That's what I want. That's what I want. Play, young soul. Tonight, Jack Benny starts his summer vacation. So do Mary and Kenny, Johnny Green and Sleperman. We'll miss all of you, Jack, but just the same as grand to know that you're coming back to us in the fall. When you return October 4th, we hope you'll be good and rested after a swell summer, all ready for another successful Jell-O year. And right now, we want to thank you listeners for helping to make this year such a success.  We hope you'll keep right on buying it, and we also hope you'll keep right on tuning in at the same time, because Jell-O and I are going to stay on the air. Next Sunday, we start the Jell-O summer show. I'll be on Handus Master of Ceremonies, and who knows, I may even buy the little time to tell you a thing or two about those six delicious flavors. And because we want to keep you in good humor during the summer, we're bringing you Tim Ryan and Irene Noblette, a comedy team of radio, stage and screen. You will keep you so happy you'll forget all about the heat. In addition, you'll hear the smooth rhythms of Don Voorhees and his new Jell-O Orchestra and the thrilling voice of Morton Bow, our tenor. Be with us on our opening night. Listen in next Sunday, same time and station, to the new Jell-O summer show. Tim Ryan, Irene Noblette, Morton Bow, Don Voorhees, and yours truly, Don Wilson. This is the last number of the last program in the present Jell-O series, and we'll be back again on Sunday, October 4th. And don't forget, folks, the new Jell-O summer show next Sunday night at the same time, starring Tim Ryan and Irene Noblette, Don Voorhees' orchestra, and Morton Bow, with Don Wilson as your master of ceremonies. I know you like it. I want to take this opportunity of thanking Harry W. Kahn, my author for his splendid cooperation. I also want to thank Ed Beloyne and Bill Morrow, who have helped me write my radio programs for the past 12 weeks during Mr. Kahn's illness. I want to thank Curtis Mitchell and the readers of Radio Guide for making it possible for me to win the Radio Guide contest again this year. Gee, it's a thrill. Say, Jack. What, Mary? Why don't you thank me for something? All right, thanks, Mary. Good night, folks, and many thanks for listening in. J-E-L-L-O The arrangement of Love and Bloom, heard on tonight's J-E-L-O program, was made for by Johnny Green. This program is coming from the NDC Studios in Hollywood. This is a nice little broadcasting company.