CHINA'S EMPTY SILVER
VAULT
Copyright JULY 2004 Charles Savoie
Let's talk about the People's Bank of China and its silver
vault, from whence has come most of the manipulated silver
supply with which to maintain the price suppression, since
sometime in 1999. As a gentleman formally known to us as
Theodore first pointed out, the Pan American Silver 2003 annual
report, page 5, had remarks about some 300 million plus ounces
of silver that have found their way out of official Chinese
government holdings in the last 4 years, enough to keep the
deficit emergency under wraps. In his April 10, 2002 commentary,
"The China Silver Syndrome," Ted was of the view that China
wasn't dumping its government held silver. You know how shorts
will turn loose any rumors they can to influence the price. We
thought it was rumor, but it turned out to be fact---another
ugly fact in a long parade of ugly facts favoring the users and
the paper money mob! In "Is Wo Fat Dumping Chinese Silver?"
(Archives) it was also my view, as of October 2001, that it
could not make sense, from the Chinese perspective, to dump
silver at giveaway rates, and therefore, that such was not the
case. By January 2003, when I presented "Silver Devils," I found
I had to change my thinking about Chinese silver. It was noticed
here last month that Mr. Xiaochuan, head of the Chinese central
bank, is a member of a paper money mob organization loaded with
Federal Reserve types, including Paul Volcker, the man who took
158 million ounces of silver away from the Hunts. Running as he
does with paper money creators, they persuaded Xiaochuan to dump
silver so the low COMEX price could continue to prevail. A
mountain of gold and interest rate derivatives, and the dollar,
are at risk if silver rises, because silver's rise would also
free gold to rise! Concerns expressed by Gold Anti-Trust Action
Committee over precious metals manipulations were expressed long
before their founding, and similarly denied by Treasury
Department spokesmen! As we find in the Wall Street Journal
microfilm, September 13, 1974, page 25---
"All sorts of rumors, focusing on fears that the price of gold
may be forced down by gold sales from central bank holdings,
have swirled around the (mining) stocks this week. Reports out
of London quoting "official" sources as confirming the
possibility that Italy might sell some gold over the next two
years seemed to buttress those fears. The speculation has even
reached "devil theory" proportions, laying to the U.S. Treasury
a vested interest in undermining the price of gold in order to
damp U.S. investor interest in direct ownership when that
becomes legal next year and to advance the Treasury's aim of
further de-emphasis of gold's monetary role. "That's nonsense,"
says a Treasury official. "The Treasury certainly hasn't any
such policy." (JUST A POLICY OF LYING!)
As of October 20, 2003, Jeffrey Christian, head of CPM Group, in
an alleged "report" entitled "Myths & Errors in the Precious
Metals Markets," said that Chinese government silver stockpile
sales are a "myth." He also suggested gold can't get much past
$400. This is the same fellow who put out an opinion piece in
2001 entitled "Bullion Banking Explained," evidencing his
attitude that precious metals longs just don't comprehend the
gold and silver markets, and for that reason, his genius
assistance is necessary in order that we may think clearly. CPM
Group, professing to be unbiased and independent, was a spin-off
from Goldman Sachs in 1986, an investment banking organization
that has cut a wide swath of losses among many investors. Jeff
Christian is also a director of International Precious Metals
Institute, along with Alex Patel of Du Pont, Silver Users
Association executive committee member. Other Silver Users
Association members are represented on this board including
Handy & Harman; Englehard (of whom we will read much in this
report); Gannon & Scott; and New York Mercantile Exchange, which
has a political action committee that donates to Idaho Senator
Mike Crapo. Mr. Christian (is he one) is on record as denying
the claims of Gold Anti-Trust Action Committee. That's not
surprising since Christian has done a research paper with a
World Bank economist; that Christian is a personal friend of
gold price suppressor Robert Rubin (with Goldman Sachs for 26
years), who also appears on the IPMI board. Considering the
confirmations we've seen about China dumping silver, and the
fact of Christian knowing influential people very well, the
appearance is that he wished to "cover" for someone. The Federal
government has been an accessory to the paper money mobsters for
a longer time than most people who know anything about it
realize. For example, speaking of the year 1920, Senator Pittman
of Nevada said (Commercial & Financial Chronicle, March 23,
1940, page 1859)---
"The United States government made available to exporters of
silver 50,000,000 of standard silver dollars for the purpose of
beating down the price of silver."
The great price depressive silver monster first came into being
around 1873, when silver was demonetized in America at the
secret behest of the Bank of England, whose gold holdings became
so much more valuable as a consequence. Then in 1947 the world
witnessed the formal founding of the Silver Users Association.
The great price depressive silver monster is a two-headed
monster, composed of a fiat paper money faction, and an
industrial users association (lobby). This price depressive
silver monster set out to soak up as much of the world's
centuries of accumulated silver metal as possible. As one
stockpile was exhausted, it has turned continuously to others
for low priced, manipulated silver. In the meantime, silver
miners have, for most of this time, suffered terrible
privations. National coinage programs in various nations have
been cheapened from true money---silver---to cupronickel,
aluminum, and other base metal coins, all so the great price
depressive silver monster could continue its low-price feast.
We know about the United States government being out of silver.
Great Britain has been out of silver for a much longer time.
Canadian and Swiss silver coins were raided for low price
consumption by the silver-using monster. The ONLY nation of
significance that has very sagely retained its precious silver
is India. After India repeatedly refused to export domestic
silver, some silver users, notably Du Pont, have moved some
operations there. In exchange for providing much needed
employment, it must be assumed, they are accessing Indian
silver. Maybe some government held silver, but more likely,
silver from private citizens. If Du Pont was as smart as it
thinks it is, it might start offering a 10% premium for those
Indians willing to sell it some silver, considering that by such
a move they might add a worthwhile amount to their supply,
before the price supernova starts in Manhattan.
Considering the history of Chinese silver, it's amazing that the
Red government had as much silver available for dumping as the
figure reported by Pan Am. After contact was made by the Spanish
at the start of the spice, silk, jade, pearl and ceramic trade
with China centuries ago, China eagerly accepted Spanish silver,
mined in the New World, in trade for its products. Later the
Dutch would become competitors, and Britain would progressively
drive Spain out of world trade after the defeat of the Spanish
Armada in 1588. The Armada was sent to invade England because of
colonial competition with Britain, and because English
privateers, most notably Sir Francis Drake, were commandeering
Spanish treasure galleons loaded with silver, gold and emeralds,
on the high seas en route to Spain. In one raid in 1577, Drake
seized 26 tons of silver mined in Peru from the Spanish! Cerro
Rico at Potosi in Bolivia is said to have produced over 2
billion ounces of silver. In the early days of Spanish
controlled silver production from Mexico to South America,
beginning around 1534, the richest silver grades were
available---far more so than today. The amount of silver that
found its way to China must have been enormous.
However, with the start of the British Opium "trade" in
China---a forced trade in which China was an unwilling victim,
just before the year 1800, a large flow of silver started out of
China. The Chinese government officially prohibited silver
export in 1814, but the prohibition was widely ignored, even
though severe punishment was sometimes dealt to its resident
violators. We know of one instance in which the British seized 6
million ounces of silver from residents of the city of Canton,
during the first Opium War (1839-1842). According to John
Francis Davis in "The Chinese-A General Description of the
Empire of China and its Inhabitants" (London, 1857), page 24---
"The rapid growth of the trade in opium, and the continued drain
of silver, have greatly alarmed the government."
Most of the Chinese silver was shipped to British India, where
opium was grown for "export" to China. This was detailed in
"Silver Users And Opium" (Archives). Imagine, getting something
very valuable in exchange for purveying deadly poison! Let's
just consider for a suggestion as to the scale of silver loss to
China, something from "The Opium Trade," which appeared in
Merchants Magazine & Commercial Review, New York, August 1850,
(pages 147-159)---
"A heavy drain of silver---the vast quantity of silver that left
the territory to pay for opium."
While a vast quantity of silver entered China over a period of
over two centuries, it sounds like the opium trade took most of
it away. Exact figures of silver flows into China before the
opium trade started, and how much silver exited China because of
it, appear unavailable. However, the Bombay Telegraph & Courier
for May 17, 1852, said that "five or six million pounds sterling
per annum" in silver left China! Opium sales in China yielded
the British profits of "several hundred percent," said the
Bombay paper. We aren't told how far back before 1852 this
silver drain extended, but by then the opium business had
already been going on for well over 40 years. Let's evaluate
some possible statistics based on the figures referenced---
5 or 6 million pounds Sterling = 60 to 72 million ounces x
Sterling conversion factor of .925 = 55.5 to 66.6 million ounces
per year x how many years? Over a period of just under 16 and
one half years, at an average silver outflow of 61 million
ounces per annum, gives the figure of over 1 billion ounces!
Certainly the rate of silver lost to China because of opium
would not have been constant, but then the opium trade was
ongoing for over two generations as of 1852, and it certainly
extended on a large scale past 1870.
The predecessor entities to Hong Kong & Shanghai Bank
(officially founded, 1865) were the British instrumentalities
for removing silver from China. You can imagine how much crime
was caused---if opium addicts had no silver of their own to pay
for a dose, they had to steal silver from their countrymen. In
1935 China went off the silver standard for their monetary
system due mostly to the silver drain. At this time two entities
staged a huge raid on Chinese silver---Hong Kong & Shanghai Bank
and the U.S. government. I haven't found anything in the way of
estimates as to how much silver left by way of HSBC Bank, but it
was probably "significant," somewhere in the tens of millions of
ounces, at least, and possibly more. Very notable is the fact
that this giant bank is a Silver Users Association member. The
U.S. government, as a result of the Silver Purchase Act of 1934,
made off with most of what was left. In the Commercial &
Financial Chronicle, March 23, 1940, we note on page 1859, in
testimony of Secretary of the Treasury Henry Morgenthau Jr.
before the Senate Committee on Banking and Currency (March 19,
1940)---
"I would like to leave with your Committee several statements
which are a consolidation of all silver purchases up to February
15, 1940. These consolidated statements were prepared for the
use of this Committee by our fiscal agent, the Federal Reserve
Bank of New York, at the direction of the Treasury Department.
In order that the Committee may have before it a complete
picture of the silver acquired by the United States since 1933
the Department has also prepared a statement showing the amounts
of newly mined domestic silver and nationalized silver acquired
since 1933. I have also prepared a statement showing the amounts
collected each year by virtue of the 50% silver profits tax. You
will note that the amount of taxes collected in each of the
first three years of the silver profits tax is substantially
greater than the amount of tax collected in each year
thereafter. One reason for this is that the yield of the tax is
higher during a period of rising silver prices than during a
period of stable or declining silver prices. As you know, the
Treasury has made special arrangements with various foreign
countries relating to the purchase of silver. The first and most
important of such arrangements was made with China. In June 1936
and from time to time thereafter the Treasury entered into
arrangements with China pursuant to which it acquired
approximately 565,855,000 ounces of Chinese silver." (Morgenthau
Jr. below)---
Let's ponder several aspects of what the Treasury Secretary
said. The Federal Reserve Bank of New York was the "fiscal
agent" for the United States Treasury, evidently in connection
also with silver coming from China, in the 1930's and apparently
also during the 1999-2003 period! What was their notion about
buying all that silver, so that fiat currencies could more
easily be inflicted on other nations? You see, some of the same
elements that opposed silver coinage here, were also involved
with our huge silver purchases! Head of the New York Fed at this
time was George L. Harrison, a member of the executive committee
of the World Money Power as of the 1940's while he was at the
helm of New York Life Insurance. At the Fed New York site there
is a paper by Harrison entitled, "Some Essentials of Monetary
Stability," in which he first mentioned there were those who
believed gold no longer had a role in the money system, then
after that, he admitted that was also his view! In order to
transfer as much wealth as possible from the middle class and
the non-aligned rich, to the World Money Power, they create fiat
money! In another paper there, "The Key To The Gold Vault," they
state that the gold standard is "largely a relic." As the New
York Times, November 4, 1935, speaking of China going off the
silver standard, said---
"Banknotes issued by the government owned Central Bank of China
become legal tender---debts payable in silver may be settled in
the new legal tender and all holders of silver must surrender it
to the Central Bank and accept notes in exchange at face value."
However, there existed in the U.S. Senate, a so-called "Silver
Bloc," with supporters in the House of Representatives, who were
able to keep our silver coinage program running till 1965, when
it was scaled back drastically, the 40% halves being the last
silver containing coins for circulation. Could it be that
industrial silver users had a lot of input into the 1934 Silver
Purchase Act, and intended that taxpayer funds were to be
appropriated for their private gain, by creating the biggest
stockpile of silver in history, which they intended to have sole
access to? (Only it didn't fully work out that way till the last
few billion ounces were squandered for the users, 1965 through
1970!) It appears that the Federal Reserve Bank of New York has
had Chinese silver connections dating back at least 70 years;
and that the New York Fed Bank is very highly likely to have
been involved in the Chinese silver dumping since 1999! We will
consider aspects of THAT later!
Another aspect of what Morgenthau mentioned, was the 50% silver
profits tax! This punitive tax was imposed so as to "curb
speculation" in silver. We didn't see an end to that sinister
tax till the early 1960's. Since it existed before, expect
various sources to propose that it be reinstituted! The
predatory circles associated with the World Money Power are
structured as rings within rings, publicly known organizations
whose leadership belongs to the thing that refuses to divulge
its list. That's for another time. These people are determined
to obstruct those outside their circles from becoming wealthy!
They are extremely dangerous. Beware of proposals to strip us of
our gains after silver flies, as they will be emanating from
these financiers. We need to be informed as to how metals
investors are being treated in other nations, to prevent Uncle
Wall Street Sam from treating us more harshly. We must make our
government live up to claims about America that it's the best
place in the world to live.
Now let's look at that 565,855,000 ounces of Chinese silver
Morgenthau mentioned, that came to the U.S. due to the 1934 act.
Just think, some of us have in our "hoards," some Chinese silver
that was minted into U.S. 90% silver coins, dated as early as
1934. And that silver, which came by way of China, originally
came from mines in Mexico and South America. That near 566
million ounce silver haul equates to 23,788 silver investors
each owning an average of 23,787 ounces, approximately. It seems
doubtful that so much silver as that is presently held by silver
longs in the United States and Canada both. If Europe and other
nations are thrown in, maybe a bit more silver than that is
held, waiting for the sustained rising price, which is the
revenge curse so feared by the Silver Users Association, and by
the criminal central bankers. That was 565,855 of 1,000-ounce
bars, or some 19,409 tons of silver! According to Frank Fetter
in "China And the Flow of Silver" (Geographical Review, New
York, January 1936) page 40---
"Shanghai stocks of silver reached an all time high of
449,840,000 ounces in June 1934."
Professor Fetter of the anti-silver money American Economic
Association received a Guggenheim fellowship (grant) in
1937-1938 and was an "economic advisor" to the Central Bank of
Ecuador in 1940; with the Lend-Lease Administration in 1943-1944
then with the State Department till 1946. The Lend-Lease
Administration was run by various representatives of the World
Money Power and was among the first, if not the very first,
experiments into silver "leasing," a subject I hope to do more
research on if I can find time; unless Congressional silver
hearings start first! (Congress should also investigate itself
for not doing its job to protect Americans from financial abuses
including the silver price depressive conspiracy!) According to
the Wall Street Journal, September 23, 1968, page 28, 427.8
million ounces of silver was transferred ("leased") to the
Atomic Energy Commission in 1943 for uses relating to the
development of the atomic bombs dropped on Japan 2 years later!
Fetter was also a member of the American Commission of Financial
Advisors, a banker front through which he had direct dealings
with China in 1929, possibly touring its silver vaults. That
449,840,000 silver stockpile in Shanghai in 1934 was equal to
79.5% of the silver drained from China due to the Silver
Purchase Act of 1934, meaning that if all the silver in the
Shanghai stockpile left, silver in the amount of 116,015,000
ounces also came from somewhere else in China. If we could know
roughly how much silver was drained out of China by Hong Kong &
Shanghai bank by the close of 1935, it would be very revealing.
Let's additionally take a look at some items that are NOT in
Morgenthau's statement quoted above. Let's consider his
background. He was a second-generation member of the World Money
Power, the nickname I use for the one organization of financial
elitists, whose membership list is refused release. There are
ways of knowing who certain of the members were/are, however,
this will be articulated upon at a later date. Morgenthau
Senior, also Henry, was born in Manheim, Germany on April 26,
1856. His mother was Babette Guggenheim, of the family who was
to become VERY prominent in copper and other metals mining, and
also dominant in aspects of the ore smelting business. Lundberg
in 1924 estimated their worth at close to $200 million, and
noted that by the mid-1930's, their worth was triple that
("America's 60 Families," page 166). Crashes and depressions are
engineered to make the World Money Power richer!
Various Guggenheim agents over the years have been members of
the World Money Power. Henry Sr. was president of Central Realty
Bond & Trust, New York, 1899-1905; president, Henry Morgenthau
Company, 1905-1913; and a director, 1915-1921, of Equitable Life
Assurance Society. In 1905 ex-President Grover Cleveland was
made a director of Equitable. Refer to "Silver Wars And Silver
Surprises" (Archives) for details of Cleveland's anti-silver
money stance. Cleveland also participated with William Whitney
in investments, a Standard Oil heir and a relative of Robert H.
Knight, President of the Federal Reserve Bank of New York,
1977-1983, who has ties to two recent Ambassadors to China.
Equitable was and is associated with various members of the
World Money Power, such as the Harrimans (railroads, banking,
investments, Governors and Ambassadors) and the
ultra-influential Morgan group.
In his 1922 book, "All In A Life Time" Morgenthau (page 82)
noted that the Stillmans of National City Bank, and the
Rockefellers, through Mutual Life Insurance Company, owned stock
in the Central Realty Bond & Trust, of which he was made
president, a large scale real estate operation. The Stillmans
and Rockefellers are intermarried and both groups are assuredly
members of the "World Money Power." An interesting book on the
Stillmans came out in 1951 entitled, "The First Billion---The
Stillmans And The National City Bank" by John Winkler. Stillman
was called "a great money magnate" (page 68) and named one of
"the money masters" (page 180). These are the figures who
associated with the Treasury Secretary's father. Roosevelt
appointed Henry Jr. to Treasury Secretary on January 1, 1934, a
post he held until July 22, 1945. Cornelius Vanderbilt Whitney
(World Money Power) and Floyd Odlum (World Money Power), a
billionaire financier who made his money going short stocks just
before the crash in 1929, and uranium and public utilities
kingpin little known to the public, were among Roosevelt's
biggest contributors. Other contributors were Vincent Astor, of
the greatest real estate fortune in history; Edward Harkness and
Harry Harkness Flagler (Standard Oil), all of the World Money
Power. Morgenthau Sr. was a director of American Metal Company,
a copper concern, and another director was Andrew Mellon (World
Money Power), the only U.S. kingpin in his time to stand
shoulder to shoulder with John D. Rockefeller Jr. (World Money
Power). (Morgenthau Sr. below)---
Clearly the Morgenthaus were associated with the "right"
people---people back of the Federal Reserve System. No wonder
the U.S. Treasury named the Federal Reserve Bank of New York as
its fiscal agent in the Chinese silver deals---and all its other
deals! Morgenthau Sr. was chairman of the finance committee of
the Democratic National Committee in 1912 and 1916. He was
Ambassador to Turkey, 1913-1916. Pursuant to settlement of
military conflict he was also the representative of Great
Britain in Turkey at that time, an outer reflection of his being
in league with the British Empire, as all our leading financiers
apparently are. He was president of the Economic Club of New
York, 1919-1920, another roosting place for anti-precious metals
policy makers. Morgenthau was decorated a Grand Officer of the
Legion of Honor, France, in 1919, and in 1920 was inducted into
the Order of the British Empire. He was a delegate to the
Monetary and Economic Conference in London in 1933, a forerunner
to the Bretton Woods Conference in 1944, attended by his son,
Henry Jr., as Secretary of the Treasury. Bretton Woods was a
snake pit of banker prostitute economists paving the way for
more paper money corruption. In 1948 Junior was decorated with
the Chinese Order of the Auspicious Star, probably because of
his extensive silver transactions with China. It was in 1935,
under Morgenthau, that the notorious "all seeing eye" over the
pyramid (Egyptian mysticism) was placed on the currency. Both
Morgenthaus were members of the World Money Power, whose members
today continue to suppress metals prices. Powerful though they
are, when the manipulatable silver supply is gone---as it may
already be---prices zoom.
Ironically, Morgenthau's predecessor as Treasury Secretary was
Ogden L. Mills (WMP), whose grandfather, Darius Mills, was a
gold and silver mining tycoon in California with timber
interests in Nevada and partial ownership of several Comstock
Lode silver mines. Some of his silver likely found its way to
China in the form of silver trade dollars. Mills also operated
banking interests in San Francisco, where he founded the Bank of
California. Darius Mills was a business associate in railroads
with William H. Vanderbilt (WMP) and John D. Rockefeller (WMP),
"History of the Great American Fortunes," 1907. Ogden Mills
brother in law was Henry Carnegie Phipps (WMP) of the United
States Steel fortune. Mills personal fortune in 1924 was
estimated at $48 million, and that of the Phipps family, $600
million ("America's 60 Families," Ferdinand Lundberg, 1937, page
27). As all these WMP family groups receive advance details from
the Federal Reserve as to when a major crash is to be
triggered---as in 1929---we must assume that they were out of
stocks before October of that year and bought shares at huge
discounts later, and that the members of the Society are
readying to do so again. Paul Warburg (WMP) warned them to get
out (Commercial & Financial Chronicle, March 9, 1929).
Butler, in keeping with being a news source monitor, informed
the silver community of the Reuters story dated June 1, 2004,
that American International Group (AIG) just exited the gold and
silver markets, and is no longer involved with the COMEX ("CRIMEX")
silver delivery process. The likeliest reason would appear, they
cannot access any more Chinese silver, because the Chinese
silver vault is EMPTY! The fact that both Maurice
Greenberg of AIG, and his son Jeffrey, a trustee of the
anti-silver Brookings Institution (once chaired by Douglas
Dillon, Treasury Secretary who took us off silver coins) are
both members of the Trilateral Commission, along with Zhou
Xiaochuan, head of the People's Bank of China, places them in an
insider's position for having access to that Chinese silver
vault, and for knowing when the depletion is absolute. This,
undoubtedly, is why AIG exited the silver market! Skadden Arps,
the law firm Eliot Spitzer came from, represents AIG! We must
assume that at some future date when his political career is
over, he will want a well-placed job, and will refrain from
offending powerful elements, such as coming down on high paying
clients of his former law firm! Fines amounting to a slap on the
wrist are merely to appease the public and do NOT constitute
justice!
The senior Greenberg also chairs the Asia Society, a
British/American influence group over Asia founded in 1956 by
John D. Rockefeller 3rd (WMP) and today Senator Rockefeller IV (WMP)
is a trustee. Greenberg is a member of the President's advisory
committee on Trade Policy & Negotiations, in which capacity he
backed China's entry into the World Trade Organization (WTO) in
2002. Additionally, Greenberg chairs the U.S./China Business
Council and campaigned for "most favored nation" trade status.
This is someone you would think favors are owed. With China
having passed the $400 billion mark against America in foreign
exchange totals this represents a considerable danger. We have
something called the U.S. Trade Deficit Review Commission that
pretends concern, but consider that its members include Wayne
Angell, a Federal Reserve governor from 1986 through 1994 and a
member of the anti-precious metals American Economic
Association; Robert Zoellick, who was on the Enron advisory
board, as well as the Goldman Sachs advisory board; and Donald
Rumsfeld, Mr. $1.61 an ounce silver from the Nixon era.
Greenberg is a person with all necessary links to Red China for
any silver dealings that have taken place. Of course, everything
has transpired away from public view and open documentation. It
would be amusing to see Greenberg questioned by Congress after
the silver scandal erupts; and that outrageous child of his
also! Recall that Barber Conable, ex of the World Bank, is an
AIG director; as is Marshall Cohen of Barrick Gold; and Frank
Wisner, ex-Ambassador to the Philippines, a country whose
central bank leased silver; two Chinese; and William Cohen,
ex-Secretary of Defense, who mentioned how the U.S. has "given"
military secrets to China (see "Michael Gorham's Paper Money
Mob," June 2004). In connection with "Silver Users And Opium"
(Archives, March 2004) take note that Cornelius V. Starr,
founder of AIG, was linked to drug trafficking in Asia ("The War
Conspiracy," 1972 by Peter Scott, see chapter 6, "Opium, the
China Lobby and the CIA"), Maurice Greenberg of AIG is one of
the personalities sometimes mentioned as a possible CIA chief!
In any Asian drug trafficking, the so-called Chinese "Triad"
mobs are involved at street level. Barclay's Bank International,
London (World Money Power) is the largest AIG shareholder. For a
review of details outlining AIG activities, please refer to "AIG---The
Un-American Insurance Group" at
www.the-catbird-seat.net/AIG.htm
It should also be kept in mind that Greenberg is vice chairman
of the Council on Foreign Relations, in which some 1500 plus
bankers, diplomats, generals, admirals, corporate executives and
other establishment wheelhorses hold membership; and that its
honorary chairman is David Rockefeller of the World Money Power,
who started the China trade in the early 1970's after
discussions with Red leaders---Rockefeller, who, by virtue of
his astonishingly underrated holdings, has been decorated by
Argentina; Belgium; Brazil; Cameroon; Chile; Colombia; Dominican
Republic; Ecuador; France; Germany; Guinea; Italy; Ivory Coast;
Japan; Lebanon; Liberia; Mexico; Morocco; Pakistan; Panama;
Paraguay; Peru; Poland; Senegal; South Korea; Thailand; and
Venezuela. David is also honorary chairman of the Japan Society,
founded in 1907 as the predecessor (by 66 years) to the
Trilateral Commission, by Lindsay Russell, an attorney who as a
liaison front man for the Vanderbilts and Rockefellers, helped
organize the World Money Power in London (1902) and New York
(1903) based on the wills of Cecil Rhodes, diamond cartelist,
who was sponsored by the Rothschilds. The Rockefellers and
Vanderbilts have had a continuing relationship over the years,
as seen in various manifestations including David Rockefeller's
brother Winthrop, who was a Vanderbilt University trustee in the
late 1960's to early 1970's. Another director of the Japan
Society is Paul Volcker, head of the Federal Reserve, 1979-1987
who wrested 158 million ounces of silver away from Nelson and
Herbert Hunt. Volcker is another Trilateral, a director of the
giant Prudential Insurance Company with its hundreds of billions
of investment funds, and a member of the Group of Thirty in
Washington, D.C. Recall that the Group of Thirty has
interlocking memberships with Governors of the Bank of England,
and with the contaminated Commodity Futures Trading Commission,
which has allowed so much damage to the silver price, and the
world's miners, for almost 29 years! My view, they should be on
wanted posters.
The traces of the paper money mob and the silver users to China
and the Far East are eyebrow raising. Greenberg senior has also
chaired the U.S./Philippines Business Council, this of a country
suspected of its central bank having taken part in the dirty
silver leasing business. Charles Englehard (born 1917), who in
1953 became head of Englehard Industries, Silver Users
Association members, was, like Volcker today, a director of
Prudential Insurance. Englehard was also a director of
International Silver (Silver Users Association member) and of
Anglo-American Corporation, interlocked with the De Beers
diamond interests of the Oppenheimer/Rothschild (World Money
Power) families. He was a director of the Atlantic Council, a
British front organization. In 1965 Englehard was named to the
President's Special Committee to Study East-West Trade. Maybe
they were studying how to get at Chinese silver to help hold the
price down! This Committee was out of the Commerce Department at
a time when John T. Connor (World Money Power) was Commerce
Secretary. Peter G. Peterson, who we looked at last month, was
Commerce Secretary 1972-1973. Barbara Franklin of Dow Chemical
(Silver Users Association) was Commerce Secretary, 1992-1993.
Then there was Sinclair Weeks, Commerce Secretary, 1953-1958,
who founded the Silver Users Association in 1947. On page 227 of
"Beyond Greed---The Hunt Family's Bold Attempt To Corner The
Silver Market" (Viking Press, New York, 1982), Stephen Fay
alleged that it was Charles Englehard who provided the real life
model for Ian Fleming's fictional "Goldfinger," of James Bond
fame! So the real metals villain of modern history wasn't one of
the Hunts, rather, he was a member of the sorry Silver Users
Association! Fay also said that Charles Englehard imparted a
"buccaneering" spirit to Englehard Corporation! With his
involvement in the East-West concept, Englehard must have been
thinking about raids on Fu Manchu's last silver!
No wonder Fay's bias in this book was against the Hunts, since
he was since 1964 in the employ of the London Sunday Times,
owned by Lord Astor of the World Money Power, descended from
John Jacob Astor, once America's richest man, the "landlord of
New York" and a director of the second Bank of the United
States, forerunner of the Federal Reserve System, paper money
mob! The Astors are intermarried with the Windsors (British
Crown, World Money Power) who recently made Fed chief Greenspan
a Knight of the British Empire. The New York Times, July 27,
1931, page 10, article titled, "Doubts Mexico Move Means Silver
Rise" said---
"No expectation exists in government circles here that the
action of Mexico will have any bearing on the course of the
British Government for India, which has been accused of being
chiefly responsible for the depreciation in silver price by
demonetizing the metal. As for China, doubt was expressed that
there would be any reaction in that country from the Mexican
plan. Gandhi at the round table conference in London will,
perhaps, demand that Great Britain shall change her injurious
gold policy and permit India to have either bimetallism or the
benefits which would flow from giving to silver a purchasing
power now denied it. The Mexican government indicated months ago
that it desired an international conference to deal with the
silver question. That government appreciated that, unless silver
were restored to a monetary status and added to the gold
metallic base to strengthen world credit and world currencies,
world financial conditions would grow worse. In my opinion, the
demand for an international conference to deal with the silver
question will prove irresistible. The President of the United
States ought to call such a conference as requested by the
United States Senate. If our government does not, I believe that
aroused public sentiment throughout the world will compel some
other countries to call such a conference. The time has come
when the silver question must be settled and the wrong which was
done by Great Britain in 1816, Germany in 1871 and 1872 and the
United States in 1873, and other nations following that example
in demonetizing silver, shall be righted."
All but the first two sentences in that article were spoken by
Utah Senator William H. King, who was, God rest him, a "silverite!"
China has been cheated out of its great silver economy it once
had, and silver users like Charles Englehard took us off silver
coinage. In 1960 Englehard was co-chairman with aluminum kingpin
Richard S. Reynolds Jr. (World Money Power) of National
Committee of Businessmen for Kennedy/Johnson. Later Englehard
became a director of Eurofund, set up by financier James Russell
Forgan (World Money Power) at 45 Wall Street, a man with links
to the silver using Du Ponts (Du Pont, Glore-Forgan investment
bank). As of year-end 2001, the Charles Englehard Foundation had
assets of $106 million. In the period 1989-2000, this foundation
contributed $974,000 to the Natural Resources Defense Council,
an anti-mining organization lobbying for, among other things,
repeal of the Mining Act of 1872, which encourages mining and
exploration.
Let's evaluate some items located in the public record, which
appear to have relevance to silver leasing, and to Chinese
silver. When it is first noticed that something underhanded is
taking place, it may be difficult at first to ascertain how long
it's been going on. Sometimes the trail of corruption extends
much further back than it first appears. As pointed out, the
first really meaningful silver leasing experiments took place
during the Lend-Lease Administration in the second World War.
(See for example, C & F Chronicle, December 21, 1944, page
2738). Official proposals to "loan" silver abroad took place as
early as 1931 (New York Times, July 27, 1931, page 10). However,
at a later date I might have to revise that outlook if I
encounter such details referenced to the first World War. The
Wall Street Journal, November 29, 1961, page 3, under a subtitle
paragraph, "Red China Could Affect Market," we read---
"One mining executive noted that a big factor in the market
could be Red China, which is estimated to have sold at least 40
million ounces of silver in world markets in the first 10 months
of this year. A spokesman for Handy & Harman, silver
fabricators, asserted---"There will be no shortage of silver."
The story didn't identify the mining executive. It should be
assumed that he was with a very large concern, and his
intelligence on the situation was most likely correct. Handy &
Harman, Silver Users Association members, were right there,
asserting themselves! If ANY government has a silver stockpile,
the prowling silver users hyena pack will figure a way to tap
such stockpiles at give-away prices! Apparently China has been
dumping silver sporadically over the years, whenever some
financial conspirators in London and Manhattan have needed an
upward blip in the silver supply, as derivatives alone don't
suffice to hold the price low. We shall shortly see this
demonstrated. Who knows what sort of deal was worked out in the
1961 situation? My guess is, a transfer of nuclear technology
took place! Maybe the Pugwash Committee (nuclear and other
scientists from many nations), founded by Cyrus Eaton, a
Red-trading Rockefeller associate, could shed some light on the
matter! Pugwash was named after the small town in Nova Scotia
where he was born; the conferences were first convened there in
1957. According to Joseph Esrey Johnson of the World Money
Power, an official of the Carnegie Endowment for International
Peace, scientists from the People's Republic of China attended
the early Pugwash conferences, which are most assuredly closed
to the uninvited, heavily guarded, de-bugged and surveilled, and
receive nearly no press coverage, considering the extent of
media ownership by the World Money Power (see Johnson's book,
"Unofficial Diplomats," Columbia University Press, 1977, page
38.) To the silver users, any silver that can be cheaply
accessed, and preferably below its mining cost or at least below
replacement cost---they feel they are entitled to it, like the
"divine right of Kings" doctrine from centuries past. The Wall
Street Journal, September 12, 1963, page 3 said---
"In the past week, silver users in the U.S. have had to go to
the Bank of Mexico to get part of their supply."
Isn't it handy to have so many central banks collaborating to
suppress the silver (and gold) price, and robbing their
respective peoples of real monetary backing for their
currencies, all so a bunch of paper money creators can continue
their subversion, and so a hooligan gang of looting silver
raiders can get cheap metal for silverware, jewelry, chemical
catalysts, and a whole range of industrial applications?
Silverware will still be made, but only for the rich!
Foreign-based silver mining concerns with operations in Mexico
are well advised to cast a suspicious eye at the Bank of Mexico,
because its links to "internationalists" are still functioning.
WSJ, June 27, 1966, page 24, raised the specter of Chinese
silver dumping again---
"Don't forget, you never know when Red China might put a lot (of
silver) on the market, one analyst says."
As with the unnamed mining executive, the analyst remained
unidentified. We are well acquainted with users, shorts and
paper money mobsters fostering bearish rumors in silver, yet the
rumors about Chinese silver dumping turned out to be true, with
the first instance occurring almost 43 years ago! WSJ, May 22,
1967, page 4 had this to say---
"Typical of the relative unconcern shown by most large scale
users in the U.S. was International Silver Company, Meriden,
Connecticut, which said it doesn't expect to ever see a time
when there's insufficient silver to meet our needs. An official
noted that there are "staggering amounts of silver above ground
in the hands of hoarders and others and this will become
available when the price moves up." The halting of sales of
government owned silver overseas is expected to work a serious
hardship on purchasers in Britain and Japan, and may possibly
draw Red China into the world silver market as a major supplier.
Some observers claim soaring prices may draw Red China---until a
few years ago, a leading contributor to the world market---back
into the picture. CHINA IN RECENT YEARS HAS APPEARED TO
IGNORE CONSIDERATIONS OF PRICE, offering metal for sale in
the West as a means of securing foreign exchange or as a
political tool to influence neutral countries." (Emphasis
added.)
The staggering amounts of silver held by "others," spoken of by
International Silver, Silver Users Association members, (Charles
Englehard, director) must have been an allusion to the world's
central banks, all modeled after the grand master of paper money
creation, the ultra-subversive Bank of England! The article
openly acknowledged that governments have sold silver, and that
China had sold silver without regard to price (dumping),
apparently in the course of other years before 1967, and not
just the first year specifically identified, 1961. So if for
convenience sake we tally up the known silver dumping statistics
for China, starting with the Morgenthau raids (566 million
ounces), the 1961 dumping (40 million ounces) and the dumping
which has taken place starting in 1999 (300 + million ounces),
we have at least 906 million ounces dumped by China! The 1967
WSJ article implied that China dumped silver onto the world
market over a span of several years, not just the specific 1961
incident! If China dumped silver over a total of 3 years, at the
same rate as 1961, that would equal 120 million ounces, or, add
another 80 million ounces to the initial 906 MOZ tally, we have
986 million ounces dumped (or should we say, "duped?") We have
information from the highly informed head of Pan American
Silver, that "over" 300 million ounces have flowed net from
China since 1999 so, we can very safely figure that China has
been coaxed by trickery, subterfuge, and probably by treasonous
transfer of military technology, into dumping over 450 million
silver ounces since 1961, to help the paper money mobsters and
the greedy silver users, to hold the price low! According to
GFMS, London, the Chinese government silver outflow in 2003 was
57 million ounces. Any other silver they've retained should be
assumed to have been consumed in their own industries, as their
silver use cannot be zero since 1934! If China's silver
consumption after recycling has averaged only 10 million ounces
a year for the past 70 years, subtract another 700 million
ounces from what they had. The 1936 article in
Geographical Review (page 33) said China's net silver imports
during 1888-1932 were over one billion ounces; this appears to
have finally been wiped out. As the article said of Chinese
silver imports and exports before 1888, complete statistics are
not obtainable but it's reasonable to assume that most of that
metal was removed by the opium trade, in fact, the figure could
easily exceed the amount that left China since 1934! According
to the article (page 41)---
"Beginning in April 1933 there was an export of silver,
principally from Shanghai, to foreign countries."
It appears, therefore, that an undetermined, but significant,
amount of silver left China for destinations other than the
United States! How many tens of millions of ounces that was, or
over a hundred million ounces, we cannot determine; but worry
not, chances are strong that it too has been raided! Furthermore
(page 43) we are informed, "extensive smuggling (of silver) has
already taken place." Maybe smuggling accounted for as much as
50 million ounces; "brigandage led to the looting of interior
banks by bandits and military chieftains" in the period
1925-1934 (page 40). Also from WSJ, October 1, 1970, page 28,
article titled, "Silver Futures Plunge Over 4 Cents an Ounce For
Second Day in Row"---
"Traders at New York noted that industry officials in the past
week have expressed more conservative views about the prospects
for a rise in silver prices. These sources believed the trade
appraisals are having some impact on futures. The weakness in
silver futures comes on the eve of termination of Treasury sales
of silver to industrial users, slated for November 10. Industry
officials don't expect that rising world silver production will
catch up with demand. Consumers will have to draw on silver
supplies currently held off the market by some countries,
officials add. Dealers believe these stocks on a global basis
are very large and term them an "overhang" in the silver market.
It is uncertain what price levels will bring these reserves into
the open market, dealers comment."
Did you notice---just five and a half weeks before the Treasury
ran out of silver to gift to the Silver Users Association---and
it was widely known that the sales were coming to a close and
that, therefore, THE major source of price-depressive
silver in the world at that time, was soon to dry up---what
happened to the price of silver on the COMEX? Why, it started
sliding, of course! Supply/demand basics do NOT apply to
the silver price, until just a few million ounces remain in the
manipulatable supply! If we can press Congress for a full
investigation of the silver problem, I believe it will be seen
that COMEX silver has been excessively shorted for at least 34
years! Notice the article mentioned that "consumers" (silver
users) would have to "draw on silver supplies currently held off
the market by some countries," and that was a remark added by
some "officials." These particular "officials" were probably
with the Treasury. How do you access silver stockpiles held by
"some countries," meaning foreign, and we assume, sovereign
governments, unless they willingly go along with your plans?
What can that possibly be referring to, other than LEASING? We
have to assume that silver and gold leasing has taken place over
the years, with the aid and assistance of every Treasury
Secretary since at least 1961, with Douglas Dillon (second
generation WMP), one of the most dangerous operators to ever
come out of Wall Street! It appears that this "overhang" of
government owned silver around the globe is on the verge of
total extinction, and with that end, will go the unhealthy low
price! There will be no revisiting of the 45 cents per ounce
rate that Morgenthau Jr. sold Treasury silver to his industrial
user pals (Commercial & Financial Chronicle, October 1, 1942,
page 1186).
Continuing confirmation of this silver accessing by leasing
theme was found in the WSJ, May 25, 1971, page 28 in the story,
"Englehard Is Accused In Suit of Attempt To Rig Silver Price"---
"There is a vast amount of silver above ground which is ample,
at least for the next decade and perhaps well beyond that, to
meet the shortfall between new mine production and consumption."
The shortfall, as we know painfully well, is caused by the
"stupid cheap" prices as Ted called them. An Englehard vice
president, Richard C. Glogau, made the statement about the vast
amount of silver available (to the users at stupid cheap prices)
at "a forum on silver organized by the publication American
Metal Market" and this statement "allegedly caused a severe drop
in the price of silver," according to the statement accompanying
the lawsuit filed in Federal court in Newark, New Jersey. Milton
Rosenthal, then head of Englehard, said it was "inconceivable"
that Englehard had any blame for the silver price decline. This
was at the same time his associate Harry Ekblom (World Money
Power) was head of European-American Banking Corporation, a huge
consortium of paper money bankers, and at the same time that
Rosenthal was a director of the U.S./U.S.S.R. Trade & Economic
Council, of which various members of the World Money Power were
also directors over the years, including William Hewitt, who
married into the Deere & Company (agricultural machinery)
fortune and who later installed himself as chairman of the
National Council for U.S./China Trade, founded in 1973, which
later renamed itself the U.S./China Business Council. Treasury
Secretary Robert Rubin addressed them on June 5, 1997. (The
predecessor organization was the China/America Council of
Commerce & Industry, chaired in the 1940's by Thomas Watson Sr.
of the World Money Power, IBM founder). This WSJ article
mentioned that---
"The suit also alleges damages of $200 million for all other
persons, as a class, who lost money as a result of the alleged
manipulation."
It would be highly revealing to have an approximate figure of
how much money small investors have unjustly lost in COMEX
silver futures and options over the last 30 plus years! Milberg
Weiss, class action law firm extraordinaire, get ready for an
unprecedented action in the coming months! J. Seymour
Montgomery, the plaintiff attorney in the 1971 case, said that
Englehard had issued price-depressive statements about the
silver market "with the deliberate intent to manipulate the
silver market by depressing the price of silver futures traded
on established commodity exchanges," and further that Englehard
(Silver Users Association member) had done this "as a course of
conduct over several years" and that his clients damages dated
to 1968, giving us as much as a two-generation period of time in
which COMEX silver prices have been artificially pushed down by
a secretive elite, inflicting what must by now be many billions
of losses on small investors---investors whose faces have just
been slapped by the Commodity Futures Trading Commission. Hey
Gorham, you said you couldn't detect any motive for depressing
the silver price---how'd you like the article I did on you and
your motives last month? Was that the stimulation for your
resignation 8 days later? Did the paper money mob take care of
you and get you a new job at a university in Illinois? Anything
we silverites can do to "help" you, we are very willing!
(Somebody offer him a deep shaft job where he'll get pulmonary
silicosis!) Gorham, care to recommend a replacement spook for
your ex-CFTC post? How about a member of the American Economic
Association, the Royal Economic Society, or someone from
Brookings Institution, Rand Corporation, Aspen Institute or
National Bureau for Economic Research? The Associated Press put
out a feature on June 15 last, "Enron Manipulated Market,
Records Say," but you have to wonder if such a story will ever
come out about silver, considering how the government fears
precious metals!
Considering one final WSJ item on world silver stockpiles then
held by stupid governments (all with central banks), from
September 10, 1976, page 22, we find---
"When people notice that the last large government silver hoard
is being disposed of, then many new long term investors may be
willing to enter the market."
Highly placed intelligence in the silver mining world, already
referred to, seems to think that China's silver vault is the
last government owned silver in the world that can be dumped,
and its silver is now virtually gone. So yes, many new long term
investors will bid the silver price up to undreamed of levels as
the price explosion starts. You who have patiently waited for so
long with silver and mining shares, can expect staggering
rewards as the right mining shares literally become winning
lottery tickets! In conversations with David Morgan of Silver
Investor I have been advised that his wide-ranging sources in
the silver and gold industry---miners, metals dealers and
investment advisors who are highly informed and extensively
traveled, are of the opinion that China has no silver left to
dump, by which the price may continue to be held down. Silver
coming from China is more likely to have originated from mining
concentrates sent there from the Western hemisphere for
smelting. An investor relations manager for a major silver
holding company corroborates this information. Therefore, the
flashpoint is on the near horizon. However, just as with your
lawn hose, when the faucet is shut off, residual water continues
to discharge from the other end for a few moments. Such may be
the case with this situation. Any remaining Chinese silver is in
the pipeline, but the source has gone dry. Considering how much
silver went into China over a multi-century span, it is amazing
that China could, by the agency of several adverse factors that
we have examined here, be squeezed of silver till it is
virtually dry of stockpiled metal. Current Chinese silver
production barely equals their consumption. The Geographical
Review, New York, January 1936, in "China And The Flow Of
Silver," page 32 said---
"China has few silver mines, and in recent decades her
production has been but a fraction of 1 percent of the world's
total. Almost all of her hoards of silver have come in the last
three centuries from the mines of the new world."
Now in 2004 China is recently estimated to have much more silver
underground than that, such as the 164 million ounce Fuwan
project. However, none of this waiting-to-be-mined silver is
currently available for export, and it should be reckoned that
China will need every ounce of silver, domestically, which it
can squeeze out of its mines. On July 8, 2003, the Huatong
Nonferrous Metal Wholesale Market opened in the Liangyou
Mansion, with 8,610 kilos of silver traded by around 50 licensed
dealers. The name has since changed to Shanghai White Platinum &
Silver Exchange with a Mr. Wenfeng as CEO. There will have to be
more going on there besides paper derivatives trading. This
exchange has an overlapping membership with the China Chamber of
Commerce of Metals, Minerals & Chemicals Importers & Exporters,
Chen Haoran, CEO. Chinese manufacturers will have to regularly
take delivery of consumable silver. The second annual China
Silver Conference took place last November 17-19 with various
speakers including Ross Beaty of Pan American Silver; Paul
Bateman of Silver Institute; Dennis Wheeler of Coeur d' Alene;
David Ryder of the United States Mint; and Philip Klapwijk of
Gold Fields Mineral Services, a London based organization that
sometimes seems to think that the same amount of silver, or
more, can be left in the world after another year of deficit.
Mr. Beaty and Mr. Wheeler, so their statements indicate, don't
believe a silver manipulation has taken place. Such views are
routine when dealing with corrupted financing sources like the
World Bank and JPMorganChase, one's bankers must be placated!
HSBC Bank U.S. and JPMorganChase recently held some $3.8 billion
in silver derivatives, with HSBC accounting for 57.9% of that
figure, according to the Office of the Comptroller of the
Currency. Current chairman of HSBC Holdings is Sir John Bond (WMP),
director of London Stock Exchange and Ford Motor, who has
addressed one of the WMP front organizations, the English
Speaking Union of the U.S. Bond is a director, along with Xiao
Gang (correct spelling) of the Institute of International
Finance. Mr. Gang chairs the Bank of China. You could say, this
Britisher runs with a gang! According to the Bermuda Sun,
January 28, 2004, Sir Bond is an advocate of corporate
outsourcing---beating down the middle class living standards is
central to WMP hierarchy. HSBC has all the proper connections to
the World Money Power. Sir Charles Addis, with the bank for 41
years, became vice chairman of the Bank for International
Settlements in the crucial year 1929.
Mike Billington of Executive Intelligence Review produced a
series of documentation showing the involvement of Sir Charles
Addis in backing various warlords fighting the Chinese
nationalist leader, Sun Yat-Sen, and how Addis and Thomas Lamont
of JP Morgan & Company (World Money Power, executive committee)
backed the Japanese invasion of China, which reached full scale
status by 1937, after most of China's silver had been removed.
By 1949 Chiang Kai-Shek, the next Chinese nationalist leader,
had been driven into Taiwan by Communist forces after the defeat
of Japan in 1945. This isn't the place to tell the story of the
banker front, the Institute of Pacific Relations, and how it
helped Communism to take China. The reason? After outright
colonialism became unsupportable, an unproductive economic
system had to be imposed on China, until the financiers could
come in years later will all their trade related groups, so they
could be in control of China's development. This is exactly what
has taken place, and the bankers got control of a manipulatable
supply of silver as part of their payoff. That supply now
appears extinct.
According to the March 2004 National Geographic, it was only
last year that China attained the figure of ten million
automobiles on its highways. Look at the tremendous room for
growth in that figure in a population 130 times that, and all
vehicles will consume some silver. As a current Chinese proverb
says, "An American is a man with two arms and four wheels." If
in the next five years, their per capita silver consumption
attains to say, four tenths of an ounce--- that adds some 520
million ounces to annual world demand. We are in negative
territory with silver supply now for many years, and as what
appears to be the last significant government held stockpile in
the world is exhausted, there will be no where else to turn to
for silver, other than to a free market, with free market
prices. This will light the blazing inferno under the gold
price, and create widespread support for remonetization. The
world's paper money systems are headed for severe crisis, and
these bankers resent independent thinking people holding
precious metals, knowing that these cannot go broke! Hold your
silver, gold, platinum and well-positioned mining shares. It
is not possible at this moment, considering the limits of
imagination, to conceptualize in your consciousness how extreme
are the impending demands on the silver supply, and how
astronomically sky-scraping the price of silver will mount!
China's silver vault appears to be empty! Prepare yourself for
the ride of your life!
"Master Po, if the government silver vault is empty, does not
this mean the price can at long last rise?"
"Yes Kwai Chang, the price will soon rise like the great Minya
Konka peak in Szechwan province."