Steve H. Hanke is a Professor of Applied Economics at the Johns Hopkins University in Baltimore and a Fellow at the Cato Institute in Washington, D.C. He is also the founder and co-director of the Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise. In the past, Prof. Hanke taught at the Colorado School of Mines and at the University of California, Berkeley. He has held many public positions, including President Reagan’s Council of Economic Advisers, and positions in Europe, Latin America, and Asia. Prof. Hanke is one of the world’s experts on currency boards and hyperinflation. In that connection, he holds seven honorary doctorates and was named one of the twenty-five most influential people in the world in 1998 by World Trade Magazine. Prof. Hanke is a well-known currency and commodity trader. During his tenure as President of Toronto Trust Argentina in Buenos Aires, the fund was distinguished as the world’s best performing emerging market mutual fund in 1995.