Part 1: Introduction and Richard W. Rahn

Part 2: Peter A. Thiel

Part 3: Questions and Answers

October 20, 1999 The Independent Institute, Oakland, CA

Peter A. Thiel Chairman and Chief Executive Officer, Confinity, Inc., and Research Fellow at The Independent Institute

Richard W. Rahn President, Novecon Corporation; former Chief Economist, U.S. Chamber of Commerce; and author of the book, The End of Money and the Struggle for Financial Privacy