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Copyright JUNE 2004 Charles Savoie

Good God! Mister Gorham speaks with puzzlement in his reply to the silver investing public as to what motive big commercial interests would have for depressing the silver price. He is disoriented with bafflement as to why anyone would work in concert to lower the silver price. Average investors lost big again in silver in the plunge from over $8 to under $6! The most important item in his May 14, 2004 denial letter, from a monetary, rather than a commodity perspective, is where he informs us he was with the Federal Reserve System for a four-year period. That says everything about this Michael, who bears no resemblance to any fabled Archangel! When I refer to Gorham's paper money mob, my intent is to say that he's a member only, and not at all that he runs this gang! Indications are that his assigned role is to assist in blocking a rise in the silver price. The home base of the paper money mob is London (see "Silver Wars and Silver Surprises" here in Archives). The "Old Lady of Threadneedle Street," as the Bank of England is sometimes called, is the grand master of paper money creation. American patriots fought its extensions in America, the first and second Bank of the United States---or United States Bank--- because they recognized the foreign influence in our money system. These institutions---predecessors to the Federal Reserve System---were issuing funny money (unbacked paper notes). The Founding Fathers viewpoint that gold and silver were to be used as money was being trashed. What has changed? With his refusal to acknowledge a coordinated superintending plan to suppress the silver price---a plan which overrides natural market forces until the deficit becomes irresistible--- Gorham has marked himself as a target for future Congressional investigation. The public is weary of Wall Street financial scandals. If those of us in the silver market who aren't insiders, know essentially what's wrong, it follows that the director of Market Oversight for the Commodity Futures Trading Commission, much more than any of us, should know what's wrong.


For public consumption, Gorham says there could be no motive for commercial interests to depress the silver price. That's like saying mosquitoes have no motive to land on warm-blooded creatures. First of all, the Silver Users Association has always fought for low silver prices. CFTC commissioners are on record addressing the Silver Users Association. Why do these alleged guardians of the public trust address a group with an interest in low (short) silver prices? This is not indicative of a neutral viewpoint! On October 28, 1998, Brooksley Born, chairperson of the CFTC addressed them with these opening remarks---

"I am pleased to be asked to speak today to members of the silver users association. Having represented a client in the cases and investigations relating to the 1980 manipulation of the world silver market by the Hunt brothers and others, I continue to have a special interest in the silver market."

See for details. A crucial aspect of the CFTC view of the silver market is there is no shortside manipulation possible. Shortside market rigging is as impossible as making two even numbers total an odd number! Shorts can do no wrong. Shorts have no motive to engineer prices. Shorts have no reason to want silver prices to collapse! The deficit is not a reason for silver prices to rise, though it could be a reason in any other commodity! We have a deficit, but we do not have a shortfall! Vanishing world silver inventories are not a reason for prices to rise! However, if silver prices begin to rise, the CFTC will investigate "excesses in speculation" as the Silver Users Association speaks of. The way the CFTC views silver is like if a freak freeze wiped out all the Florida citrus groves, they'd be saying, that's not a reason for orange juice futures to spike! The SUA is the one and only and exclusive users association in any commodity and the CFTC raises not one eyelash about it. They see a unicorn in a horse barn and act like all animals within are horses! What would CFTC officials have to say about De Beers in diamonds, and about OPEC in oil? "Oh, those are long market manipulators, and the Justice Department won't allow them to have offices on United States soil!" I provided readers with 322 references mainly from the Wall Street Journal concerning the Silver Users Association in "The Silver Raiders" (archives). The CFTC knows what the Silver Users Association is, and they are in obvious complicity. The fact that long cartels are easier for the average person to understand than short ones is taken full advantage of. When silver prices rise, some malevolent impish voice starts barking in the background, "Oh, the Hunts this, and oh, the Hunt brothers that! And oh, those really evil silver hoarders!" Brooksely Born should be given a pick and shovel and made to produce silver for the users at COMEX rates! Then this person who shouldn't have been "born" would wish she hadn't been!

CFTC Commissioner Thomas Erickson addressed them on October 18, 2000 and said---

"I was pleased to accept Walter Frankland's invitation to speak with members of the Silver Users Association."

See for details. Take note that these CFTC Commissioners are "pleased" to address the Silver Users Association. It's like, they'd rather tell the Silver Users Association just exactly whatever it wishes to hear, than to hop off the train tracks if a locomotive was within inches of wiping them out! They wish to please the devil like the medieval Faustus, and like the deranged clergyman in the Irish horror film "Rawhead Rex" (1986) who, when warned that association with the demon would get him killed, said with sardonic delight---"I HOPE SO!" James Newsome, CFTC chairman, addressed the Silver Users Association on May 23, 2001 and tickled their ears---

"It is both an honor and a pleasure to address this distinguished group. The CFTC will continue to vigorously prosecute those who attempt to manipulate markets or to defraud market participants. I look forward to working with you as we move forward."

See for details. Are these CFTC officials blind? No! Have they had a portion of their brains lobotomized so they can't understand what a short cartel is? No! What other conclusion can we draw but that they are intentionally dishonest? The Silver Users Association is indeed a "distinguished group." They are distinguished as the organization that soaked up America's silver at theft rates; as the organization responsible, with the paper money mob, for taking away our last sound money; as the organization bearing the blame for the U.S. being without a strategic silver stockpile for military defense; and as the single most blamable group for the coming silver supply disruptions. This is the group of which CFTC Chairman Newsome says, he looks forward to working with! With great irony I point out that the Silver Users Association calls itself a "nonprofit organization." What kind of mark-up does Tiffany & Company apply to fabricated sterling jewelry? After purchasing one of their silver items, how much could you sell it for melt content? That's what we thought! You'd get hurt bad! Nonprofit, indeed! More likely, they want silver miners and silver holders to lead a nonprofit existence! Just let them produce at a loss for a few years, go bankrupt, then someone else comes in with mining capital and repeats the cycle! A naked short position will be maintained, assuring users of cheap silver!

Is the CFTC assisting in covering up such intentions? To every appearance, yes! Would these three CFTC commissioners, along with Michael Gorham, care to address a silver investment conference, with silver mining companies and metals dealers present? Why, no, that would be a conflict of interest, because those are folks who prefer to see a rising silver price! When they address a group with an interest in having low prices, that's not a conflict of interest---as long as THEY are making the interpretations and creating the definitions! The CFTC advisory committees feature names like Goldman Sachs; Lehman Brothers; Morgan Stanley; JPMorgan and others who provide security and bond underwriting services for many corporations, including silver users such as Kodak, Du Pont and Dow Chemical. Goldman Sachs, after JPMorganChase, appears to be the second most influential financial entity in American media, with Goldman partners on many large boards of directors. These media giants get advertising patronage from Kodak, Dow Chemical and Du Pont, and none from silver miners, accounting for editorial bias against rising silver prices.

Philip M. Johnson, former CFTC chairman and current advisory committee member, is with the Skadden Arps law firm that reps for Du Pont---the same law firm Eliot Spitzer comes from. Spitzer has been on notice concerning the silver problem since last year, and to date has taken no action. Maybe John Ashcroft, Attorney General of the U.S., has told Spitzer that higher silver (and gold) prices would "foster Arab terrorism!" Everything (except the deficit and silver longs) is incredibly interwoven to unite influence in a specific direction for silver prices---down! Those investment banks are also revolving doors with Federal Reserve and Treasury officials, who fight for unbacked dollars! However, how can COMEX say the silver price is thus-and-such low figure, when we know the end outcome of a ceaseless deficit is a crisis of availability? Have rule changes already been drawn up, emergency orders and a suggestion to the Oval Office for an Executive Order to deny delivery to longs, and to institute a requirement for "end user certificates" in order to get silver? The ONLY silver company to so far announce it has bought physical silver declines to state the vault location. The likeliest reason for this is fear of seizure by the United States government, run as it is by anti-precious metals financiers with their prostitute paper money mob economists holding key positions! Hey Gorham, I bet that silver is safe offshore where "economists" such as you cannot suggest it be seized! Go ahead and twitch; we understand.


Since we know by his own admission that Gorham was with the Federal Reserve System for 4 years, we must understand the relevance of this link to a desire for low silver prices. In February 1873 Congress carelessly passed an act containing a provision that silver couldn't be used to pay any debts over $5, in effect, silver was demonetized in the "Crime of '73;" paper money creators fear silver---and gold also. Paper money can be created to unlimited extent, so why would Gorham object to so much COMEX paper silver? The CFTC is interwoven with the Federal Reserve, as the CFTC Chairman is a member of the President's Working Group on Financial Markets. The other members are---SEC Chairman; Secretary of the Treasury; and Chairman of the Federal Reserve. Yeah, Newsome rubs elbows with Knight of the British Empire, Alan Greenspan, gold price suppressor. The British financial empire is a fiat paper money empire of central banks and allied institutions. The SEC under Harvey Pitt failed to protect investors from the analyst swindle stock frauds; silver longs are pillaged by COMEX and CFTC denies it, because the silver shorts and paper money mob controls the CFTC! The illegal short sales have a price cap on the net worth of all silver mining investors! What gives COMEX the right to set the world price of silver in defiance of supply-demand facts, and to cause a disruptive long-term shortage?

The CFTC is in a revolving door relationship with the Federal Reserve System, in addition to Gorham, Susan M. Phillips, who became CFTC Commissioner on January 16, 1981, through July 24, 1987, became a Governor of the Fed from 1991 through June 30, 1998. The CFTC has an intense relationship with the New York Mercantile Exchange, owner of the COMEX, and J. Robert Collins, NYMEX president, had his first business position with the Federal Reserve Bank of Dallas. John Walsh of the CFTC Global Markets advisory committee, is a member of the Group of 30, several of whose members have been governors of the Bank of England, highly suspect of being the prime overseas agency behind the silver demonetization of 1873 that devastated the middle class and dispossessed millions of their land and homes! As an Englishman said, speaking of Great Britain, on an episode of "The Big Valley" TV Western---

"It's a very old country, Mr. Barkley. Very old, and very experienced!"

I suggest that huge motives exist on the part of industrial users and paper money creators to want low silver prices. The users, so they can obtain the raw material at the lowest price so as to have the biggest spread between the acquisition cost and the fabricated mark-up; and the Federal Reserve gang, to make it look like their play money is really worth something, and that silver isn't money! (Fake symbol of wealth, below)---

The industrial silver users have raised holy hell on numerous occasions as silver prices rose only slightly, saying it would put them out of business. However, platinum is also an industrial metal, with a cost some 150 times that of silver, and we hear no protests that platinum prices are threatening to put them out of business! But higher silver prices are more dangerous than higher platinum prices, because silver have been used as MONEY for millennia, while platinum hasn't! Let's look at only a few available references illustrating that those with the Federal Reserve System deny that silver is money, and how they support a low silver price! The Commercial & Financial Chronicle, January 1, 1938, page 45, reported a summit of over 60 economists sponsored by the American Economic Association, attacked silver coinage. One of those present who signed the anti-silver resolution was Randolph Burgess, at the time, vice president of the Federal Reserve Bank of New York.

Example #2, Commercial & Financial Chronicle, April 22, 1939, page 2355, Marriner Eccles, then chairman of the Federal Reserve System, complained to the United States Senate that---

"Silver certificates are displacing Federal Reserve Notes in our currency system."

Here was a creator of unbacked paper money, complaining about silver. (Doing away with the gold reserve requirement was on their drawing board!) Eccles was in on the founding of the World Bank and the International Monetary Fund, whose website start page says, "Gold and silver are non-monetary assets." Quite naturally, the silver certificates, being redeemable in real money-silver-were preferred by realistic citizens over the puff of smoke backed Fed Notes! Utah (silver state) born turncoat Eccles, below---

Eccles advocated to the Senate that silver prices be reduced from the official OPA (Office of Price Administration, a Fascist agency predating the Fascist Cost of Living Council) price of 64.64 cents per ounce, to a flat 50 cents an ounce. The first director of the OPA (1941-1942) was Leon Henderson, who before that chaired the Securities Exchange Commission. Henderson was a member of the anti-silver American Economic Association. The OPA rationed gasoline, coffee, tires and most food, and price capped silver, "to prevent wartime inflation." I suggest that if the object is to prevent inflation, unbacked currency must become metallic based currency; then "inflation" won't be a concern. The OPA was phased out in 1947 but was replaced by the Office of Economic Stabilization, another Fascist/Socialist Federal agency run by economists fronting for monopoly capitalists. I suggest that Michael Gorham of CFTC and Federal Reserve has a built in bias from his background against any silver prices other than low silver prices!

Example #3, Commercial & Financial Chronicle, June 24, 1939, page 3773, we note the comments of Marriner Eccles, chairman of the Federal Reserve System---

"From the monetary point of view there is no justification for any kind of silver program."

The "monetary" point of view, he said, doesn't justify any use of silver. What did the term "monetary" mean to him? Evidently, the power to create paper notes without any basis in value; to force the public by the legal tender statutes to use these as currency; and to deprive the people of real money---silver! We note with concern, this attack was first against silver, then against gold! That is an indication of which monetary metal they fear most! What looks more like money, gold and silver coins, or a piece of inky paper? Federal Reserve Notes are rather like automobile titles, with no automobiles to correspond to them!

Example #4, Commercial & Financial Chronicle, May 16, 1946, page 2703, the Economists National Committee on Monetary Reform called for lowering the silver price. Naturally, none of these fiends were involved in mining silver! One of these economists was Ivan Wright, ex of the Federal Reserve Bank of Chicago.

Example #5, Federal Reserve Bulletin, September 1946, page 995, mentioned the U.S. Treasury and the Federal Reserve branch banks helping subsidize industrial silver users (at taxpayer expense). Industrial users were taking delivery of 1,000 ounce silver bars, triple niners, from their nearest Fed branch bank. We know quite well about the users desire to pay as little as possible for silver, and Treasury and Fed officials fell all over themselves to accommodate them.

Example #6, Commercial & Financial Chronicle, April 30, 1953, pages 1872-1873, retired admiral Donald Ramsey, legislative counsel to the Silver Users Association, addressed the Mirror Manufacturers Association in Chicago. A few remarks---

"It would be more lucrative to just print paper money and spend it. In 1950 the Treasury Department officially took the position that it would not object to the enactment of legislation repealing these laws. The Board of Governors of the Federal Reserve System officially stated that enactment of such legislation would be in the public interest."

Ramsey spoke volumes in just three sentences. All we need do for national prosperity and everything prosperity involves is to "print paper money and spend it." Just run those Federal Reserve/Treasury printing presses, and we create prosperity. Were such the case there would be no homeless, no jobless, no underemployed, and no poverty in America!

Such prosperity is in fact created for those who issue Federal Reserve Notes---for those banking organizations and the rich families back of them. However, everyone downstream is more often than not, harmed by irredeemable fiduciary currency. It's in the public interest, say Federal Reserve sources, that our currency not be backed with silver, so they said, get rid of the silver reserve requirement, do away with silver certificates! Don't anyone think that Gorham would see it otherwise. Without silver backing silver certificates, and with the ending of the silver coinage program, the hog trough was full for the silver users! Except that we're 51 years out from 1953, and the silver deficit can't go away with low prices. They fail to accept that the only thing that has a chance to end the deficit is a market free from inordinate short influence, which the CFTC covers up. The certain formula to increase silver supply is "LET PRICES RISE." Senator Pittman of Nevada made reference to "our government conspiring with other governments to beat down the market price of silver," C & F Chronicle, March 23, 1940, page 1859. I suggest that if someone like Senator Pittman had been the Congressional sponsor of today's CFTC commissioners, action would have been taken long ago to bring fair play to the market!

Example #7, Federal Reserve Bulletin, April 1963, page 469, testimony of William McChesney Martin Jr., Federal Reserve Board Chairman at a Congressional hearing---

"The Board believes it is unnecessary to utilize silver as part of the U.S. monetary system. Although some concern has been expressed that removing the silver "backing" from part of our currency might lower its value, I would not agree."

He disagreed with the silver-backing aspect because he was a dishonest man; because unbacked irredeemable currency is dishonest. As for lowering the value of the currency, in the 41 years since that liar addressed Congress, the Federal Reserve Note has lost most of its purchasing power. Silver is a store of value; it is a unit of value; it is a measure of value; it is fungible; it is wealth and worth more than simple paper; and all the regiments of liar economists cannot alter that fact. It is a fact that will become more perceptible to the common man as time goes on.

Example #8, Wall Street Journal, March 27, 1964, page 10---

"Commercial concerns are big buyers of silver, but they always make their purchases in bar form, generally through Federal Reserve Banks."

Federal Reserve officials have a history of calling for lower silver prices. Federal Reserve officials have a history of suppressing silver prices. Federal Reserve officials have a history of assisting silver users to obtain silver as cheaply as possible. Silver and rising silver values are a threat to the Federal Reserve Note, the same as gold! This is why they have acted to help short the silver price! Isn't this the root of your denial of shortside silver price manipulation, Mister Gorham? I suggest you wish silver prices low so the Federal Reserve Note can appear to have more "value!" When the silver shortage is forced into public view, after blaming longs for the problem caused by users and shorts, will Gorham suggest that "End User Certificates" be required for purchase of silver, as the Wall Street Journal, May 22, 1967, page 4 said---

"Proving they qualify as a legitimate consumer."

Who will be issued these "End User Certificates," but the ever-militant Silver Users Association?

Example #9, Wall Street Journal, December 7, 1967, page 1, the 12 Federal Reserve branch banks were sifting through coinage, and removing any remaining silver coins for the benefit of the Silver Users Association. All that cheap silver! These Federal Reserve hoods were just too happy to get rid of any real money they could, and get the public on their sickly "created" money!

Example #10, the Economic Review of the Federal Reserve Bank of San Francisco (where he was an economist), Winter 1978 issue, pages 7 through 19, Michael Gorham presented an article titled, "Dividing Up The Minerals of the Deep Seabed." Sorry I didn't have time to run down that article; however, given the bias seen in these other examples, we can easily suppose that any silver present on the ocean floor, should someday be divided up among the members of the Silver Users Association, who put out an air like they came down from Mount Sinai with stone tablets engraved with the message that they alone are entitled to silver and all profits relating to it!

Example #11, on October 3, 1979, the board of governors of the Commodity Exchange called for a "Special Silver Committee" to look into the silver situation. In "Beyond Greed-The Hunt Family's Bold Attempt To Corner The Silver Market" (Penguin Books, New York, 1982), Stephen Fay claimed on page 141 that the chairman of the Special Silver Committee, Andrew Brimmer, was even more "disinterested" in the silver market than the other Commission members, who were also "disinterested in silver." By the way, does anyone have a complete list of who those "disinterested" gentlemen were? I can see no reason for lack of leads to those specific identities except, if they were checked out, it would be seen that the "disinterested in silver" claim was audaciously false! Brimmer served as a governor of the Federal Reserve System from 1966 through 1974! This is the same organization on record as opposing use of silver as money or monetary backing! The same institution whose chairman in 1939 called for a 22.64% lowering of the silver price paid to struggling miners! No doubt the users let out a cackling demoniac laugh, knowing the silver miners were being forced to high-grade their richest silver veins to keep from going under!

Brimmer was "disinterested in silver," said Mr. Fay, a so-called "investigative reporter!" The Special Silver Committee headed by the "disinterested" Brimmer validated the January 21, 1980 COMEX rule change, ordering liquidation only trading in silver. As additional proof that Brimmer was "disinterested in silver," please note that not only was Brimmer also a governor of the Commodity Exchange at that time, he was additionally a director of Du Pont, Silver Users Association members! How can you have a director of a corporate member of an organization that works to lower the price of a commodity, making rules and determinations in the leading worldwide exchange of that commodity, and say, this is a "disinterested" person? How much Du Pont stock was he holding? Brimmer was also a director of the anti-silver National Bureau for Economic Research, whose honorary chairman at the time was Arthur F. Burns (below), Chairman of the Federal Reserve System from 1970 through 1978!

Robert Parry, president of the San Francisco Fed Bank, is a director of the NBEC. Watch for the National Bureau of Economic Research to present a "white paper" suggesting that silver be nationalized! It would be in keeping with the banker/user way of stealing things! I guess silver investors are fortunate that these Federal Reserve paper money mobsters are "disinterested" in silver! How much lower would the price be rigged if they admitted to having an interest in it, since it's a menace to their dreadful paper money? Senator Pittman of Nevada remarked that you could buy the necessities of life anywhere in the world with silver, but that there were "many places where you could not buy these necessities of life with a Federal Reserve Note." (C & F Chronicle, March 23, 1940, page 1859).


In his May 25, 2004 article on China and the commercial Comex silver shorts, Butler succinctly detailed the case that silver to service the deficit has been coming mostly (maybe entirely) from China since some point in 1999. The nature of the global financial octopus is such that, it is to be anticipated that another Federal Reserve connection would be identified regarding Chinese silver dumping. Clark T. Randt Jr. became Ambassador to China on July 23, 2001. He came by way of the Hotchkiss School and Yale, both modeled after the British system. He has been a partner with the ultra-powerful Wall Street law firm, Shearman & Sterling, which according to the State Department website, has "substantial China practice." A brief look at their site showed they refer to Red China as "Greater China," and have represented entities such as China Telecom; China National Petroleum; Petro China; Hutchison Whampoa; Citigroup; Merrill Lynch; Barclay's Bank; Lehman Brothers; Goldman Sachs; Anglo Gold; Deutsche Bank; HSBC; JPMorganChase; Morgan Stanley; and Bank of Nova Scotia. Richard Aldrich Jr. (Bank of China) and Edward Turner III (Chinese electric power and infrastructure) graduated from Vanderbilt Law School, and Robert Truehold (7 giant French entities) was a David Rockefeller Fellow in 2002; the firm represents the "World Money Power." Robert Huntington Knight, an heir to the Whitney (Standard Oil) fortune, chaired the Federal Reserve Bank of New York from 1977 through 1983, and was a partner with Shearman & Sterling from 1962 through 1985 with Randt a subordinate. Knight is a member of what I will simply term the "World Money Power." The Whitneys are intermarried with the Vanderbilts, sponsors of the anti-silver American Economic Association at Vanderbilt University. Myers in "History of the Great American Fortunes," 1907, page 368, noted of the Vanderbilts ---

"That their extortions reached hundreds of millions of dollars a year was a patent enough fact."

This was over a century ago! The Vanderbilts are at the center of the "World Money Power," concealed by bogus rankings of big rich. Alfred G. Vanderbilt Jr. married Alison Platten, daughter of Donald Platten, chairman of Chemical Bank in the 1970's which later merged into Chase! Myers in "History of the Great American Fortunes," 1907, page 275, said---

"The incidental mention of such a mass of money conveys no adequate conception of the power of this family."

Knight is himself a substantial Federal Reserve personality, unlike Gorham, who assuredly is much lower level. Incredibly, Robert Knight also has ties to an earlier Ambassador to China, James Lilley (1989-1991), because Lilley was a consultant to the board of giant United Technologies Corporation while oil heir Mr. Knight was a director!

Randt, current Ambassador to China, started with the National Council For U.S./China Trade in 1974 (see "Silver Devils" in Archives). It's a bit unsettling to know that Randt served in the U.S. Air Force Security Service, 1968-1972. It seems quite likely that our Ambassador to Beijing would have full details as to the link between Chinese silver dumping and the COMEX price rigging. It is somewhat incredible that China has dumped some 300 million ounces since 1999, considering how much silver the British looted off during the opium trade (see "Silver Users and Opium," Archives); and how much silver got sucked out of China by Hong Kong & Shanghai Bank as China was going off the silver standard, and because of the way the Silver Purchase Act of 1934 pulled silver out of China. Evidently scattered silver hoards existed afterwards. It is reasonable to postulate that as the Chinese Communists took power in 1949, silver was on their list of things to do. The Red leadership likely seized, under threat of execution, all silver held by the people. HA! Maybe the Silver Users could suggest such a plan here!

Other Ambassadors to China show a pattern of collaborative influence with the Federal Reserve System, and must be suspect in silver links to China. Winston Lord, Ambassador to China, 1985-1989, was president of the Council on Foreign Relations, 1977-1985, during some of the years that David Rockefeller chaired the organization. Lord, who is married into the Pillsbury fortune, is also a member of the National Committee on U.S.-China Relations. Known generally as the "CFR," it was formed in 1919 as the visible outer affiliate of the "World Money Power" which I shall specifically identify later this year. No, its name doesn't contain 10 letters, nor does it refer to a skeleton. The CFR has had at least hundreds of Ambassadors, Generals, Admirals, and corporate directors and executives on its rolls over the years. This is the visible focal point for control of foreign and domestic affairs. David Rockefeller has served as a director of the Federal Reserve Bank of New York. Rockefeller, possibly the leading member of the "World Money Power," at least in America, groomed Peter Peterson as successor chairman of the CFR, a post he currently holds. Peterson got a degree in 1951 from the Rockefeller sponsored University of Chicago, of which his mentor, David Rockefeller, is a lifetime trustee. Biographer William Hoffman said, "David's Influence with CFR is enormous." Actually that's an amazing understatement for a man whose net worth is estimated at well under $5 billion, by sources who are members of this CFR and help him keep a low profile. It's like saying there's just a thimble full of water in Lake Superior. David remains honorary chairman, presumably tells Peterson what to do, and David Jr. is a member (and a member of the hidden thing as well). Peterson additionally is chairman of the New York Federal Reserve Bank (since 1999), and is a trustee of the National Bureau for Economic Research. In 1973-1984 Peterson headed Lehman Brothers Kuhn Loeb (now Lehman Brothers, another merchant banking institution identified with the "World Money Power," who always seems to have an advisor to the Commodity Futures Trading Commission! Another Ambassador to China, Stapleton Roy (1991-1995) is a CFR member and director of Kissinger Associates consulting firm, of the long time Rockefeller flunky.

Michael Moskow, a man with an admittedly Soviet sounding name, is a CFR director and is currently also president of the Federal Reserve Bank of Chicago. Moskow additionally is vice chairman of the National Bureau for Economic Research (notice how the same entities recur) and was a director (1975-1976) of the old Council on Wage and Price Stability, the successor to the Nixon era Cost of Living Council, which suppressed the silver price for the users and the paper money mob. Moskow was a professor at the Drexel Institute, Philadelphia, 1963-1967. Drexel is a name associated with the "World Money Power." William J. McDonough, another CFR director, was president of the New York Fed 1993-2003. McDonough was with First National Bank of Chicago when in October 1979, Volcker, head of the Federal Reserve, sent a letter to all banks that they not "make loans for speculative purposes," and commodities, meaning, silver and gold! McDonough left the bank in 1989 as vice chairman.

Martin Feldstein, CFR director, is president of the National Bureau for Economic Research, and is a director of China connected American International Group, identified by Butler as a long-standing silver short. Carla Hills, CFR director, is another American International Group director and chairs the National Committee on U.S.-China Relations. Have economists at the Research Bureau researched silver, and has the relations committee helped China to dump silver? Robert Rubin, who as Treasury Secretary helped suppress the gold price, is vice chairman of the CFR and a Goldman Sachs director---Goldman Sachs, who always has someone on CFTC advisory committees!

Jessica Einhorn, a director of the World Bank from 1996-1998, is a CFR director. George Soros, CFR director and suspected Rothschild front, does have a large stake in a prominent silver company. Silver suppressors run with silver investors, when those investors are elitists and an insider's understanding is in place. Lots of links to the Federal Reserve Bank of New York, and here's another---Alfred Hayes, a member of the "World Money Power," was president of the bank from 1956-1975, whereupon he became chairman of Morgan Stanley International. Hayes was a British Rhodes Scholar, reflecting the ongoing British hand in the Federal Reserve System!

Ambassador to China just before the current Mr. Randt with his New York Federal Reserve Bank connections, was retired Admiral Joseph Prueher, who was commander in chief of the U.S. Pacific Command, from January 31, 1996 through September 7, 1999, whereupon Clinton---a President with a lot of Chinese mainland links (and a stronger link to Great Britain as a Rhodes Scholar), nominated Prueher as Ambassador to Beijing. On June 4, 2001, Prueher was hosted at a meeting of the CFR---the same CFR whose chairman is also chairman of the New York Federal Reserve Bank---an institution with a world of motivation to see silver prices suppressed! Gorham, do you know anything about this? As for the Chinese, why would they dump silver, since as we know, it may cost them 20 to 50 times in the future, over what they dumped it for! I supplied the obvious theory in "Silver Devils" (Archives). The only possible motive China could have for dumping silver is in exchange for sensitive military and aerospace technology! While I am qualified to point out many circumstantial evidences indicating treasonous actions on the part of certain U.S. residents, only Congress could make such determination with certainty. Well, let's look at some known facts!

In "Silver Devils" (January 2003) I noted that Loral Corporation and Hughes Aerospace transferred sensitive missile technology to the Chinese Reds; Lockheed Martin also built a missile early warning system for China! Admiral and then future Ambassador to China, Mr. Prueher, commented that it wasn't a concern (Aerospace Daily & Defense Report, October 1998). Senator Bob Smith (R, New Hampshire) complained about Prueher's associations with these corporations. Prueher also played a role in transfer of the Panama Canal to a Red Chinese controlled entity, Hutchison-Whampoa. Prueher was part of a panel discussion entitled "Chinese Military Power" at the Washington Club, 15 DuPont Circle, District of Columbia, on May 22, 2003. (Remember always, Du Pont is a Silver Users Association member!) Panelists included Harold Brown, former Defense Secretary now working for the Warburgs; John Deutch, ex-CIA director; Larry Welch, president of Institute for Defense Analysis in D.C.; Robert Kapp of the U.S./China Business Council; Karen Sutter of the U.S./China Business Council and the Atlantic Council (British front); ex-Ambassadors to China Winston Lord and Stapleton Roy; and John Holden, president of the National Committee for U.S./China Relations. For additional information see

Other Panel members included John Frankenstein (Columbia University faculty---funny name, huh; there is an Elizabeth Economy on the CFR roster; and Adam Segal, currently a Maurice Greenburg fellow at the CFR. (Maurice Greenberg, head of silver short American International Group, is honorary vice-chairman of CFR; and his son is a trustee of the anti-silver Brookings Institution in D.C., once chaired by Douglas Dillon, Treasury Secretary who helped take away our silver coins---Dillon, a member of the "World Money Power!") Dillon was a founder of the Inter-American Development Bank in 1959. A later governor of the Inter-American Development Bank was William Simon ("World Money Power"), also an IMF governor, Treasury Secretary, and COMEX governor in January 1980 when the rule change in silver was made, crushing the Hunts! Silver miners, please do not seek development funds from Inter-American Development Bank! Simon was also with the manipulative Council on Wage and Price Stability in the mid-1970's.

Segal also got two Mellon fellowships ("World Money Power") at Cornell, after the Treasury Secretary who collaborated with Lord Montagu Norman of the Bank of England in creating the Great Depression! After being replaced as Ambassador to Beijing by Randt, Prueher was placed on the board of directors of Merrill Lynch (long time silver bear) and New York Life Insurance. Will some people do anything to keep silver cheap, including commit treason? (Take note, this is phrased as a question). On September 2, 2001, the New York Times noted in a story by David Sanger titled, "U.S. Will Drop Objections To China's Missile Buildup,"---we note

"The Bush administration, seeking to overcome Chinese objections to its missile defense program, intends to tell Chinese officials that it has no objections to the country's plans to build up its relatively small fleet of nuclear missiles capable of striking the United States, according to senior administration officials. One of those new missiles, the DF-31, may be able to reach the northwestern edge of the United States."

DF stands for "Dong Feng," (not CM as in Chow-Mein!) If those missiles could strike the area indicated, that would include a major U.S. city, Seattle Washington; also Vancouver Canada. With a bit more range, missiles could strike silver mine sites in Idaho and Nevada, with the result that silver for defense technologies would be in even more constrained supply! Chinese officials may be inscrutable, but they cannot be stupid! Bush expresses worries over Al Qaeda terrorists, but says nothing about Chinese intercontinental ballistic missiles! As far back as 1975, Chinese Reds had already detonated 16 nuclear bombs at test sites! With all the Wal-Mart sponsored factories in China, and all the "everything's a dollar" stores all over the U.S., such funds are diverted into military modernization. While the U.S. is without a silver stockpile, China dumps silver, apparently at the behest of the paper money mob, who fears rising precious metals prices like vampires fear a crucifix! According to an impressively documented research item by Free Republic, Admiral/Ambassador Prueher helped China to modernize the People's Liberation Army and has been---

"Helping the Chinese climb all over U.S. defense secrets for years."

See for details. Ex Secretary of Defense William Cohen claimed we gave nuclear technology to the Chinese Reds from Lawrence Livermore National Laboratory. For details please refer to

There is another organization that must be considered in relation to China, silver, and the paper money mob, and that is the Trilateral Commission. Founded in 1973 by David Rockefeller of the "World Money Power" and his roommate at Harvard University, George S. Franklin Jr. (WMP) in 1973, the organization brings together elites in North America, Europe and the Far East, especially Japan. Rockefeller, below, seen in 1996---

According to biographer William Hoffman (1971), "One President after another has done his bidding." The Trilateral emblem, quite honestly, bears resemblance to the fabled "666" of Biblical renown. However, since the general public can access its membership roster, it is only another visible, outer affiliate of the invisible "World Money Power," to be discussed at a later date, as it is the mainspring of the precious metals suppression. Big business, as in World Trade Organization members, such as British Petroleum; Exxon Mobil; IBM; Royal Dutch Shell; General Electric and many other giants are represented. Banking interests we've read about in connection with precious metals price suppression are represented, including Deutsche Bank; Goldman Sachs; JPMorganChase; N.M. Rothschild; HSBC Bank (Silver Users Association); UBS Warburg (Federal Reserve); Citigroup; Bank of Nova Scotia (Silver Users Association); and Bank America.

Let's make this all suddenly relevant---Zhou Xiaochuan, current Governor of the People's Bank of China, is one of only 2 Red Chinese members I saw on the Trilateral Commission roster.

This is the same official that Butler sent a letter to recently concerning the dumping of Chinese silver to satisfy the deficit. The 56-year-old Xiaochuan was previously chairman of the China Securities Regulatory Commission and president of the China Construction Bank. The other Mainland Chinese member is Wang Jun, chairman of China International Trust & Investment. In contrast, at least 71 Japanese are members. Considering how China suffered under the Japanese before and during World War II, and the notable British members of Trilateral with Britain's nineteenth century opium trade that did so much damage to China, it's a bit odd that any Mainland Chinese would be members. But in the world of high finance and manipulation of international governments, intrigue makes such things possible. People with institutions suspected of holding down the silver and gold price are Trilateral members. Other Trilateral members have strong military/defense links; many have ties to China. CFR directors, who we looked at earlier, including George Soros; Jessica Einhorn; and Winston Lord, its one time president, are Trilateral members, as is Maurice Greenberg, honorary vice chairman of CFR; his son Jeffrey Greenberg, trustee of the anti-silver Brookings Institution; and Paul Volcker, former chairman of the Federal Reserve System. Volcker had a fellowship at the London School of Economics (paper money mob) in 1951-1952 and by 1962 was director of the Office of Financial Analysis of the U.S. Treasury. His analysis must have been that we should be taken off silver coins so the paper money mob could go full-blown!

In 1965 Volcker went to work for David Rockefeller at Chase Manhattan Bank, where he was a vice president till 1969, then he went back to Treasury as Under Secretary for Monetary Affairs, till 1974. By "Monetary" they assuredly meant "unbacked paper currency." After that, Volcker went to the New York Fed where he served under Robert Knight for several years. The highest official of the People's Bank of China is a member of an organization created by the paper money mob---people with a self-interest in holding low the silver price as long as possible! Was a deal crafted in secret with China, in which military and aerospace technologies were transferred to them in exchange for massive dumping of silver?

Another Trilateral is Peter Godsoe, chairman of the Bank of Nova Scotia, mentioned by Butler as a silver short. Raymond Seitz of Lehman Brothers, former Ambassador to Britain, is another identified member of the "World Money Power," the son of a D-Day General. Lehman Brothers always seems to be represented in the CFTC advisory committees. General Lord Guthrie of Craigiebank, of the British military industrial complex, is now with N.M. Rothschild & Sons, London, and a Trilateral member. Deputy Defense Secretary Paul Wolfowitz is a Trilateral member, and the most hawkish personality in his views on the Arab world. Vice President Cheney is a so-called "ex member" of Trilateral in "government service," and recall his days as number two man in the Nixon era Cost of Living Council, with their Fascist ruling capping domestic silver at $1.61 an ounce! Another Trilateral is Lawrence Summers, former Treasury Secretary and anti-gold activist. So Trilateral, like CFR, is another paper money mob organization run from behind the scenes by the "World Money Power." These organizations obviously exert a collaborative influence in international happenings.

Transferring military technology to China in exchange for dumping of silver bullion to maintain the rigged low price for the greedy industrial users, and to help the paper money mob have their "created" money seem real, must be considered as the main motivating factor in Chinese silver dumping. From the point of view of the London/New York paper money mob, another reason for aid and trade with China and helping them to upgrade their dangerous military power lies in the fact of the fragmentation of the former U.S.S.R. With the Soviet threat having faded, a new threat must be built up in order to continue the "balance of power" scenario in the world, and that threat is Red China! Ask India how she feels about the situation! As noted in "Silver Devils" 17 months ago, the top string-puller in this grand design appears to be David Rockefeller, who took a trip to China in 1973, the same year he founded Trilateral. See the article, "How To Trade With Communists---Interview With David Rockefeller," U.S. News & World Report, August 13, 1973, showing him posing with an interested Chou-En-Lai, Red Chinese Premier, with Rockefeller commenting---

"China is developing a broadly diversified industrial structure. It's quite impressive."

Also "quite impressive" is the fact that a well-known pirate known as Kenneth Lay, former chairman of scandal-ridden Enron Corporation, is also listed on the Trilateral rolls! The New York Mercantile Exchange itself (parent of COMEX), other than having Federal Reserve ties in that Mr. Collins, its president, once worked for the Federal Reserve Bank of Dallas, also has direct connections to Red China. Albert Helmig, a member of the National Committee for U.S./China Relations, was elected to vice chairman of NYMEX, and served as chairman of seven (7) Exchange committees. He's also a director of the International Precious Metals Institute, of which four executive committee members of the Silver Users Association are also directors! See press release dated March 18, 1998 at

After looking at statements and recommendations made about silver by former Federal Reserve chairmen, a great deal of bias is obvious. That must have been why, under Fed chairman Paul Volcker (1979-1987), the "bailout" loan to the Hunts over their silver margin calls was arranged with terms so punitive that by 1986, they eventually forfeited some 63 million ounces of physical silver! In fact, as of April 2, 1980, the Hunts owned 158 million silver ounces, but by the end of that month had been stripped of 95 million ounces, due to the COMEX rule change and the margin calls it caused! ("Beyond Greed," referenced above, page 232). If you aren't in the right organizations, you are a target! In June 2003 Fed chairman Alan Greenspan warned the House Committee on Energy and Commerce that the natural gas shortage poses a threat to key U.S. industries. So, what about the silver shortage, which Federal Reserve officials have helped create by working to hold prices low for the greedy silver users? Gorham, we'd appreciate hearing from you about these paper money versus silver matters! We have utmost confidence in your ability to conjure additional dissembling remarks! Be sure to cover for the World Money Power! If only we were fully regressed to feudalism as under the British Colonial Lords of Manors, Gorham could come out from under cover of denial and say to silver miners and investors---

"I could have shot you before, from out there, but that would have been too gracious!"

(Bad man to victim shot point blank on episode of "The Big Valley" TV western series 1965-1969)

Gorham says he just doesn't understand,
Why anyone would want to hold silver low;
We know there's a hidden hand,
That pulls strings and runs the show;
It just dealt little people another blow!

Gorham says he was with the Federal Reserve,
Paper money mob fights the silver price;
Michael acts innocent; it's a swerve!
They got Chinese silver, not rice,
Cheating the world of silver isn't nice!

When will Chinese silver run out?
Soon enough and we will see,
Metals suppressors lose their clout,
Silver prices taller than a tree!
For users, no more silver for free!

Is it wise to help China industrialize and arm?
For cheap silver, have U.S. elitists made concessions?
If Chinese missiles can strike the U.S., sound the alarm!
Will these scandals be aired in Congressional sessions?
Will we learn the full extent of transgressions?

Paper currencies losing value like crazy!
More printing press money isn't the key;
Gold & silver realities aren't hazy,
Let Greenspan become a detainee!
Dump his FRN's in South China Sea!

President Jackson in eternity, looking at the scene,
Knowing gold & silver money is our only hope,
We must confront and stop the paper money machine,
Else we tumble further down the slippery slope,
Unbacked currency is poisonous economic dope!