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Copyright March 2007 ~ Charles Savoie

I HAVE HEARD OUR SWAPS CRITICIZED AS COVER UPS.”  ---Alfred Hayes, lecture at Economic Club of New York, April 22, 1963



“The world must get rid of the gold mentality.  We are fools to put up with it.”---executive of Midland Bank, London, quoted in New York Times, January 28, 1931, page 6

The same source was cited again in the NYT, May 16, 1931, page 7---

“He suggested that the Empire Bank would issue a bookkeeping currency to be termed Rex.”

The proposed world currency was to be named after King George V of England, Patron of The Pilgrims Society and friend of J.P. Morgan (who historian John Morton Blum called “almost Lord of creation”)---

“Senator King of Utah quoted former Premier Caillaux of France as saying the world’s financial structure was pyramided upon a mere diamond point of gold.”---NYT, June 12, 1932, page 5

Image at start of article is of Alfred Hayes (1910-1989), a 1933 Rhodes Scholar who was president of the Federal Reserve Bank of New York from 1956-1975, key functionary of the infamous London Gold Pool of the early 1960’s and a member of The Pilgrims Society (Who’s Who, 1970, page 986).  Rhodes was financed in business by the Rothschilds and by the Crown.  Copyright © 2004 Kaihsu Tai, image at Wikipedia released for public use, Rhodes Trust Building at Oxford University--- 

The present Rhodes Trust has four English Lords, probably all Pilgrims Society members, running it www.rhodeshouse.ox.ac.uk/

Hayes was also on the Yale University Council.  After leaving the New York Fed in August 1975, he took up the chairmanship of Morgan Stanley International.  While at the New York Federal Reserve Bank Hayes superintended the collection of 90% silver coins from the nation’s largest banking district, so that the coins could be replaced with cupronickel replicas.  The silver coins were then shipped to the Treasury Department---then run by Douglas Dillon, another Pilgrims member, to be consumed by the Silver Users Association.  Morgan Stanley and Dillon Read were of course investment bankers to some Silver Users Association companies---all very convenient!

Not to get too far off the subject of this particular paper money mob figure Alfred Hayes, but having mentioned his role in the absorption of silver coins, it is necessary for a moment to take issue with something recently stated by a member of the metals community in a swipe against silver coins www.gold-eagle.com/gold_digest_05/stott012507.html Many of you must have read this, and it sure didn’t sound like Franklin Sanders (it wasn’t).  False, false, false reasoning!  The dealers I know sell by the half bag, which weighs---guess what---half as much as a full bag.  Buy $1,000 face, get two half bags, which is to say one full bag total.  So the weight issue is not as claimed.  You can also buy by the roll or tube.  Strong premiums have been seen on silver coin bags in the past and we will see these again.  Shortage of tradable quantities is the reason such bags were delisted from the futures exchanges.  The same thing took place in Canada.  Most silver coins have been melted for the S.U.A. and those that remain in better condition are very scarce in ratio adjusted to today’s population.  This dealer sounds like someone who is having more difficulty filling coin orders than bullion requests, so prefers to emphasize triple nine.  As far as not needing coins for medium of exchange in a total currency collapse, I say, heed his advice at your personal peril.  Better to consummate a transaction with a handful of dimes than with a 100-ounce bar, which is not readily divisible into smaller units.  Even three half-dollars weigh barely more than a one-ounce round.  The editorial left me waiting to see someone answer it; so here’s one.  As for Frank Veneroso, please someone help him out on the subject of silver.  (I hope it isn’t a problem other than confusion!) 

The same year Hayes was a Rhodes Scholar graduate, President Roosevelt (Pilgrims) was quoted as saying---

“We are continuing to move toward a managed currency.”

(New York Times, October 23, 1933, page 2, story titled “President’s Gold Plan Is Held Unprecedented and Bewildering.”)  The NYT, December 23, 1933, front page, featured this on Roosevelt’s outlook---

“At the press conference, the President avoided direct reference to gold by observing with a smile that SEA SHELLS WITH HOLES IN THEM ARE A MONETARY BASE IN THE SOUTH SEAS.”

Our monetary system already had an excessive amount of tampering before Hayes had his turn at fiscal sabotage.  While Hayes was in his early formative years readying to become a top functionary for the World Money Power, an economist, Edwin Robert Anderson Seligman (of the Seligman banking family, represented in The Pilgrims Society), who at the time was an economics professor and associate of Nicholas Butler, president of The Pilgrims and married into an old New York real estate fortune, had this said of him (New York Times, September 22, 1931, page 17---

“Professor Edwin R.A. Seligman of Columbia University, internationally known economist, declared yesterday that Great Britain acted wisely in forsaking the gold standard.  “The new law is an act of wisdom and statesmanship,” Professor Seligman said.”

Naturally Seligman had served as president of the Vanderbilt associated American Economic Association in 1902-1904.  The Vanderbilts, railroad and land magnates, Civil War profiteers, were among The Pilgrims Society’s founders, and married into the Cecils, one of Britain’s leading families since medieval times.  Seligman was also a member of the Royal Economic Society (Who’s Who, 1931, page 1982).

The same New York Times edition just referenced, page 1, had this to say---

“J.P. Morgan broke his almost ironclad rule against talking for publication today to say that England’s latest move seemed to him to be not a discouraging but a hopeful event.  While most of the world was excited upon learning that overnight Great Britain had decided temporarily to suspend her gold standard, the financier received a correspondent in his private office in the London headquarters of Morgan, Grenfell & Co., near the Bank of England, and expressed his optimism.  “This step seems to me to be the necessary stage in the work of the national government.”  Although it is not permitted to quote all Mr. Morgan said, he did not express any pessimism.  Other financial commentators requested that their names be withheld, but here are some of the points made by several American bankers, all of whom are widely known---“Suspension of the gold standard by Great Britain not only was not unexpected but was a logical and forgone conclusion.”  “FROM THE STANDPOINT OF THE FINANCIAL EXPERT, IT WAS THE CORRECT MOVE.”  “THE ONLY CRITICISM OFFERED IS THAT IT SHOULD HAVE BEEN DONE BEFORE.”  “FAR FROM BEING DISCONCERTING, THIS MOVE HAS CLEARED THE ATMOSPHERE.”

Yeah these worthy global bankers are all experts and they have assured us over the years that gold is not needed as medium of international payments.  For a much longer time they have waged war against silver money.  From 1926 through 1931 the British Empire tried its best to leave the entire world a financial wreck.  See “The Greatest Right” here in Archives for details of how they caused grave damage to silver holders and miners everywhere.  The march towards full world fiat was underway, with members of The Pilgrims paper money mob leading the way.  According to another NYT article (December 24, 1933, section II, page 5) “Silver As Money Long A Big Problem”-

“The proclamation of President Roosevelt authorizing the coinage of silver newly mined in the United States introduced a new phase in the long and turbulent career of silver money in this country.  It does not, however, involve a remonetization of silver in the sense of making silver a part of the monetary basis of the country, nor does it involve bimetallism, according to the view of banking experts.”

The double talk in this quotation is quite clear.  What may be less clear, but should be stated, is that in signing the Silver Purchase Act of 1934, it was not Roosevelt’s intention to strengthen our monetary basis by acquiring more silver.  The plan was instead, to gather as much of the world’s silver supply into the Treasury Department as possible, the more easily to manipulate its value on the world stage for many years to come.  This is precisely what took place!  As for the British attack on gold backed by King George V, Patron of The Pilgrims Society, an unnamed British banker stated (NYT September 22, 1931, page 2)---

“Most of the world is off the gold standard.  THEY WILL ACCEPT LONDON AS THE WORLD’S FINANCIAL CENTRE.”

Economists such as Seligman in the 1930’s, and Martin Feldstein today, might assure us that the legal tender laws shield us from inflationary forces, while the very reverse is true.  Of course, when the British attacked gold, the effects reverberated worldwide.  According to the NYT, September 25, 1931, page 1---

“The New York money market yesterday felt the first severe shock growing out of Britain’s suspension of the gold standard and the consequent disruption of foreign exchange.”

When Alfred Hayes appeared before the House Banking Committee in 1964, committee chairman Wright Patman, a strong opponent of the Federal Reserve System, told Hayes: "You can absolutely veto everything the President does. You have the power to veto what the Congress does, and the fact is that you have done it. You are going too far."---Time magazine, February 14, 1964 (Patman also said McChesney Martin Jr. held “the most powerful job in the civilized world.”  Martin was another Pilgrims Society member who headed the Federal Reserve System from 1951-1970 and had it be publicly known that he would “defend the $35 per ounce gold price down to the last ingot.”  See “The Conspiracy Against Gold,” here in Silver Investor Archives.)  Patman tried for years to put through an outside audit of the Federal Reserve System but was never able to win enough Congressional supporters.  That’s because people get bought off.  If the Fed had nothing to hide there should be no resistance to any independent audit; just like concerning the gold we allegedly still have.  The Fed has had to operate in secrecy.  Its primary secret is that the general public does not comprehend what it is.  Wright Patman (1893-1976) had this to say on September 29, 1941 (Congressional Record, pages 7582-7583)---

"I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money. It is absolutely wrong for Government to issue interest–bearing obligations. It is not only wrong, it is absolutely unnecessary. I believe the system should be changed. The Constitution of the United States does not give the banks the power to create money. The Constitution says that Congress shall have the power to create money. I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with this Congress for sitting idly by and permitting such an idiotic system to continue."

Before you decide to rate Patman too highly, I point out that while he was OK in some ways in others he had problems.  He did help the Silver Users Association access silver from Treasury coin melts!

In 1933, Alfred Hayes became an analyst for the investment department of City Bank Farmers Trust Company.  In 1940 he transferred to the bond department of the National City Bank, a predecessor of Citigroup.  Two years later he became assistant secretary in the investment department of the New York Trust Company.  During WWII Hayes served for two years in Washington and Rome as a naval lieutenant in the office of financial planning for military government afterwards in the office of the Foreign Liquidation Commissioner. After the war, Hayes returned to New York Trust, where he became assistant vice president. From 1949 to 1955 Hayes served as vice president in charge of the Trust's foreign division.  As Pilgrims Society member Allan Sproul exited the New York Fed Bank, Hayes took his place.  Sproul started at the San Francisco Fed Bank in 1920 and headed the New York Fed during the critical period 1941-1956.  Sproul was a member of the California based Bohemian Club, a related though lesser organization; and after leaving the Fed he appeared on boards such as Kaiser Aluminum & Chemical and Wells Fargo Bank.  Sproul also chaired the Presidential Committee on U.S. Balance of Payments in 1961, another position from which the Money Power could loot the taxpayers. 

After Alfred Hayes left the New York Fed in August 1975, Paul Volcker came over from Chase Manhattan Bank to take the reins.  This was the same Paul Volcker who is one of old man David Rockefeller’s highly placed flunkies (both Pilgrims Society members; yes, everyone mentioned so far have also been on the more visible CFR roster as the dangerous principle of “rings within rings” applies).  Volcker was the one who broke the Hunts out of some 59 million physical silver ounces by 1986-1987, finishing the hatchet job started by former Treasury Secretary, Pilgrims Society member William E. Simon of COMEX management, who “assisted” the silver price to start crashing just after mid January 1980.  Volcker now runs the Group of Thirty www.group30.org in Washington, probably the think tank that has created the Amero.  Is there a link between a wider Middle East war, the end of the dollar and the intro of the Amero?  Reading between the lines at their site there are numerous suggestions to that effect.  P.V. played a role in the decision to sever the link between the dollar and gold.  At their site you can find a connection with Barrick Gold; and many anti-silver connections.  Below, Volcker at a UN function---

Let’s consider some things said by Pilgrims Society member Alfred Hayes in his role as a leading functionary of The Paper Money Mob.  Bear in mind that the U.S. Federal Reserve System is the offspring of the Bank of England (and by far the longest lived of its offshoots here) and that The Pilgrims Society constitutes the financial leadership of the British Empire (now largely financial and political through the United Nations) and that the Rhodes Scholars, tools of British world domination, have been all over our political system from Presidents to Governors, Senators, Congressmen, Ambassadors, University presidents and on and on.  As Rhodes himself said (Review of Reviews, May 1902, pages 557-559)---

“I am on the lookout for those who will do the governing of the nations in the years that are to come.”

Great Britain has been the superintending source of attacks on silver as money; and finally against gold as money also.  This is a theme I have repeatedly documented in several essays such as “The Greatest Right.”  According to the New York Times for November 23, 1931, page 31---

“Criticism of Great Britain’s departure from the gold standard as unnecessary, published by writers such as Dr. Anderson, has aroused comment.  Unsound financial principles pursued by the British Government in recent years helped to force the country off the gold standard.”

Since the British leadership, embodied in The Pilgrims of Great Britain as an organization, are the godfathers of fiat paper currencies; and since Alfred Hayes as an Oxford University trained Rhodes Scholars was one of their emissaries, it is no wonder that he wanted gold out of the financial system.  He certainly did his part at the helm of the New York Fed Bank when the gold redemption window was closed on foreign dollar holders in August 1971.  Imagine showing up one day too late to exchange wrinkled, inky dollars for the real money they used to vouch for, and being turned away.

What follows are some remarks made by Pilgrims member Alfred Hayes, a Rhodes Scholar.  In “The Dollar---National And International Bulwark,” a speech Hayes delivered before the anti-silver Economic Club of New York on April 22, 1963, Hayes remarked---

“I should like to talk to you tonight about the dollar---the role it plays in the world and the urgent problems we face if we want to see that role maintained.  The strength of the United States, both at home and abroad, is inextricably linked with the strength of the dollar, and the dollar in turn is a key component of the Free World’s financial structure.  The dollar attained preeminence in much the same undirected, almost unconscious, way that the United States became a great nation.  Gradually, it became the medium of exchange for a large part of the world’s trade and investment transactions, sharing this role principally with the pound sterling.  Beyond this, the special role of the dollar as a standard and store of value was clearly recognized in the Bretton Woods Agreements of 1944, which provided for world currencies to be valued in either gold or the dollar.  Indeed, the world’s monetary reserves now consist largely of gold and dollars.”

What happened with the dollar becoming prominent was not by accident; unfortunately, it has been by British design as their control over our central bank suggests.  That made it more feasible for them to use our military power in wars they fomented.

“The role of the dollar as a reserve currency rests on several considerations—(1) a strong United States economy, in which the dollar is expected to remain immediately usable for a wide variety of goods and services at reasonably stable prices; (2) a strong United States creditor position in the world, with our foreign assets---largely long term---exceeding our total foreign liabilities by a substantial margin; (3) our large gold stock, now comprising some 40 per cent of the world’s monetary gold, and available to foreign monetary authorities at the fixed price of $35 per ounce.”

In “The Conspiracy Against Gold” at Silver Investor Archives, you can read details as to how the long fixed $35 per ounce gold price cheated millions of mining shareholders out of better returns---all to shore up an increasingly fiat dollar, which became totally so in August 1971.  No wonder The Pilgrims Society invited Nixon to become a member; he accepted; and Gerald Ford issued him a pardon (recall also that the CFTC was created under the aegis of the Ford-Rockefeller administration!)

“Faith in a currency has the quality of being scarcely noticeable until there is reason to question it.  Until recently, the dollar’s impregnable position was so taken for granted that few observers bothered to analyze carefully what lay behind this strength and what might endanger it.  We can all recall the concern for those nations in Europe and elsewhere that faced a so-called “permanent dollar gap.”  Yet within a few years the dollar has lost some of its luster and is no longer immune from occasional fears and suspicions.  At home, the conclusion is inescapable that concern over the dollar’s future is, in Chairman Martin’s words, “a major shadow over our economy,” restraining that full flowering of business confidence that is essential to the vigorous economic growth we all seek.”

“Clearly, we must recognize the importance of a strong dollar if our national voice is to carry full weight in political, military, and economic dealings with other nations.  It is clear, too, that only a dollar of unquestioned soundness can continue to share with gold the role of providing the world’s monetary base.  There are limits, however, to the willingness of either official or private foreign entities to add to their holdings of dollars.”

How could a piece of paper, not redeemable in gold by American citizens, share any role with gold?  Ahh, the legal tender laws forced it on us.  Notice Hayes spoke of a piece of paper as being a pillar of world trade, and somehow equal to gold.  Notice Hayes had no mention to make of silver at all.  Or even of silver certificates, as of then still in force for over five more years to come.

“The Federal Reserve System and the Treasury have sought to prevent easy credit from being translated into excessively low short term interest rates.  To the extent that dollar investments appear unattractive to private holders as compared with investments in their own or other countries, dollars tend to find their way into foreign central bank reserves.  Once these official dollar holdings reach ample levels, there is naturally a reluctance in some countries to further enlarge the dollar component of their growing monetary reserves, AND THEY TEND TO USE ADDITIONAL DOLLARS TO BUY GOLD.”

They wanted hard metal rather than paper promises that they sensed were going to be repudiated; and that day of shame and infamy arrived over 35 and a half years ago.  That’s a very long time to stand on the thin ice of mere paper, and in the face of ever increasing debt and deficits.  Picture the contrast of the common shoplifter who goes to jail for pocketing an 89-cent pack of chewing gum, then Congress gives themselves raises for stealing your grandchildren’s future.

“Until a year or two ago these gold outflows or increased dollar holdings were the only means for settling our deficits with foreigners.  But in recent months the Federal Reserve has arranged reciprocal currency drawing rights with most of the countries of major importance in international payments, while the Treasury has also acquired foreign exchange by issuing United States bonds denominated in foreign currencies.  These arrangements, eliminating any exchange risks, have been useful in reducing immediate claims on our gold, and in avoiding or moderating temporary imbalances such as those caused by international tensions or speculative pressures---against other currencies as well as the dollar.  The stability of the exchange markets during the Cuban crisis was a good case in point.  These Federal Reserve and Treasury arrangements mark new milestones along the path of more effective international financial cooperation, which I am happy to say has not been affected by the recent policy differences among the major western nations on the military and trade fronts.”

“There are also other major means of financing a deficit which are still untapped and which constitute a most important reserve.  I am thinking specifically of the normal resources as well as the enlarged lending facilities of the International Monetary Fund.  I have heard our swaps and foreign currency borrowings criticized as cover ups.”

“It is clear that the United States has rightly rejected devaluation of the dollar or any impairment of the inconvertibility of gold and the dollar at the fixed price of $35 per ounce.  Such a step would be a breach of faith with our friends abroad, and with our own citizens, that would undoubtedly wreck the international financial structure we have been building since World War II.  Incidentally, we have seen within recent years how disturbing to international confidence any tampering with fixed exchange rates can be.  I am confident that none of the major nations will upset our world financial structure by seeking temporary competitive advantage through exchange rate adjustments---and clearly such action is unthinkable in the case of the dollar.”

“Some in this country argue that we needn’t worry too much about costs but rather should push for faster growth, on the theory that a more active economy would automatically boost productivity and reduce costs.  Much as I would welcome more rapid growth, I don’t think we can count on this for automatic cost improvement.  On the contrary, unless we consciously aim at vigorous cost control, higher business activity could reawaken the inflationary pressures that plagued us in the nineteen fifties.  Keeping wage and salary increases within the limits of national productivity gains would seem to be a minimal target in this area.  In any case, as I have said on previous occasions, monetary policy must be prepared to act decisively in defense of the dollar if the need should become sufficiently acute.”

Here Hayes was attempting to blame inflation on rising prices and higher wages.  No Federal Reserve official, to my knowledge, has ever placed blame for inflation on their monetary “creation;” inflation is always someone else’s culpability.  As for monetary policy acting decisively in defense of the dollar, that is precisely what the generations long procession of attacks on gold and silver are about. 

In “Emerging Arrangements In International Payments” speech at the IMF headquarters in D.C. on Aug 31, 1975, www.perjacobsson.org/lectures/1975.pdf Hayes remarked that SDR’s (Special Drawing Rights, a weird IMF concoction) involve “the question of national sovereignty in general.”  Just let the money creators rule over all and there’s no more need for separate nations!  Other of his remarks at this speech at the International Monetary Fund appear at the start of this essay.  Pilgrims Society member Warren Randolph Burgess, a long time silver money antagonist, delivered opening remarks at this forum.  Burgess got his start in 1920 at the New York Fed and became vice chairman of National City Bank, 1938-1948.  Burgess chaired the American Bankers Association, 1944-1945.  As undersecretary of the Treasury in 1955-1957 he helped Silver Users Association companies buy and also “lease” silver bullion from the Treasury vaults.  He became U.S. Ambassador to the North Atlantic Treaty Organization (NATO) from 1957-1961, whereupon he chaired the Atlantic Treaty Association until 1963.  This is another British attempt to recover their North American “colonies.”  They placed Burgess on such boards as Royal Liverpool Group of Insurance Companies; Union Pacific Railroad; International Banking Corporation; and Discount Corporation of New York (page 298, 1966 Who’s Who.)

At this same occasion a lower level hack economist, whose name is unimportant to even mention, puked out the following filth---

“Since gold has lost its position as a universally accepted reserve asset and its monetary role is being phased out of the international monetary system, the remaining options for reserve asset diversification is limited to one or two European currencies and the SDR.  Before discussing the SDR, however, one comment on gold is essential.  Any substantial increase in the price of gold will increase international liquidity---unevenly among a few countries---and will cause further inflationary pressure, which is in the interest of neither the developed nor the developing nations of the world.  Mr. Hayes prefers a world of key currency arrangements where there is a firmly managed floating rate relationship between the currencies in the European group and the dollar, with other countries forming associations with one of the key currencies.  He believes that such arrangements offer the best solution for stability.”

Thieves are those who say that gold is dead as money!  And what of silver?  I believe they fear it the more for not mentioning it.  As the weeks have passed since the start of 2007, key media sources have increased the tempo and intensity of suggestions as to the unavoidability of war with Iran.  Oil giants ExxonMobil; British Petroleum; ChevronTexaco; Royal Dutch, all with Pilgrim members on the board and in top management, want Iranian petroleum reserves.  This media blitz is easily accomplished by means of editors in chief, board chairmen and presidents who are Pilgrims members and run the propaganda mills for their war machine, financed by fiat paper.  A look into the leaked lists from 1969 showed top decision makers at Newsweek, Time Magazine, New York Times, Wall Street Journal, Business Week, U.S. News & World Report, International Herald Tribune, London Times, CBS, NBC, Christian Science Monitor, Reader’s Digest and many other media on the hidden roster of the Secret Society.  The books they put out on each branch, dated 2002 and 2003, contained absolutely no current roster.  That is by intent---they can only function by remaining in the dark as to their confirmed identities.  Small wonder that General and later President Andrew “Old Hickory” Jackson remarked---

"The paper-money system and its natural associations—monopoly and exclusive privileges—have already struck their roots too deep in the soil, and it will require all your efforts to check its further growth and to eradicate the evil.”

After winning one of numerous battles against the central banking forces Andy stated---

"The hydra of corruption is only scotched, not dead."

“Whoever controls the volume of money in any country is absolute master of all industry and commerce. And when we realize that the entire system is very easily controlled, one way or another, by a few very powerful men at the top, you will not have to be told how periods of inflation and depression originate.”---President James Garfield, assassinated on July 12, 1881 (less than one month after making this statement)---

Senator Elmer Thomas of Oklahoma (1927-1950) was a “Silver Senator” and there is a description in the New York Times, December 21, 1933, page 9 of Thomas locking horns with James Paul Warburg from number 40 Wall Street, son of Federal Reserve founder, Pilgrims Society member Paul Warburg---

“Thomas declared he was not in favor of an expansion of the currency through an improper, excessive and overissue of paper money.”

James Warburg was appointed to be financial advisor to the American delegation to the World Economic and Monetary Conference at London on July 20, 1933.  This was the conference in which silver money advocates and silver miners were thwarted, flouted, stalemated and cheated (more details in coming article).  He was not the type character Andy Jackson would have placed trust in.  Federal Reserve and other central bank secrecy over the years are well known.  Here’s an item dating from the Great Depression (New York Times, December 23, 1933, front page)---

“Rumors that further developments of importance in the administration’s monetary policy impended were widely circulated tonight after a special meeting of Federal Reserve bank governors with the Federal Reserve Board, about which a deep cloak of mystery was thrown.  Those at the conference refused all comment about what had taken place, but there was an intimation that the deliberations were of great importance.  Those present included George L. Harrison of New York.  No member of the conference would admit that a memorandum had been prepared.  Governor Young said there was not a thing he could tell, and George Harrison was equally reticent.  A member of the Federal Reserve Board was asked if gold was the topic.  One of the conferees was reported to have indicated that he considered the meeting so important that he felt unable to say anything at all.”

The 1949 Who’s Who, page 1054 shows at that time Harrison (Yale 1910) was on the executive committee of The Pilgrims; director New York Life; First National Bank of New York; trustee Columbia University; Foreign Service Educational Foundation; member New York State Banking Board and so forth.  He spent over 25 years as a Fed official, culminating as president of the New York Fed, 1936-1940.  At those few times and places where the tenebrous veil of secrecy didn’t cover everything, a look inside shows members of The Pilgrims Society running the top Paper Money Mob posts on both sides of the Atlantic. During World War II, he was assistant to Secretary of War Henry L. Stimson (another member) for matters relating to the development and deployment of the atomic bomb.  Harrison---

According to his obituary in the New York Times, Sunday, October 22, 1989, section 1, page 38, Alfred Hayes “played a pivotal role in the national and world banking systems for nearly two decades.”

Yes, and it was most adverse for gold and silver as money, and as commodities, that Hayes had his menacing hands on such levers of power!  You could indeed say that he helped to “Pilgrimize” world finance by impoverishing those outside the charmed circles of elite intermarried, inherited wealth and monopolistic tendencies.  Hayes chaired the notoriously anti-silver Economic Club of New York, 1965-1966 www.econclubny.com/history.php In July 2003, Barbara H. Franklin was elected the Club's 54th Chairman.  This woman has long been a board member of Silver Users Association member Dow Chemical and is a Bush fund raiser.  Robert Roosa and James Davant chaired the Club in the 1970’s.  Both Pilgrims members, Roosa was another Rhodes Scholar connected to both the Rockefellers and the Harrimans; as Treasury Undersecretary to Pilgrims member Douglas Dillon, Roosa helped demonetize silver coins while feeding them to the Silver Users Association.  Davant was a Du Pont relative who chaired Paine Webber and oversaw several huge corporate mergers.  In all, the Economic Club of New York has seen numerous Pilgrims Society members as chairmen over its century long history and could be the subject of a whole other essay.  James Warburg, of whom we heard earlier in his clash with Silver Senator Elmer Thomas, chaired the Club, 1934-1936.

I found this site noteworthy along with its links elsewhere

Donald H. McLaughlin, president of Homestake Gold Mining, writing in The Mining Congress Journal, November 1946, page 36, declared---

“In comparison with artificial units, such as the dollar or other strange creations based on economic indices of one sort or another, gold has the supreme virtue of tangible existence and traditional value that make it resistant to political manipulation and not exclusively dependent on definitions and agreements that are apt to become scraps of paper when they run counter to national expediencies.  Gold miners need have no fear about the steady persistence of demand for their product.  THE WORLD WILL CONTINUE TO WANT IT. 

Just let the demoniac fiat money creators wear their product out by depreciating it to worthlessness, and silver and gold stand ready to return to their rightful role as money!

Remember the fine old black and white television series by Rod Serling, “The Twilight Zone?”  One episode featured a little girl’s doll that could outsmart humans.  Federal Reserve types such as Hayes and Volcker remind me of that doll episode in which at the end of the story the malevolent doll caused the man of the house to tumble down a staircase to his death.  It was not long before that event that the doll verbally warned him---

“My name is Talky Tina, AND I’M GOING TO KILL YOU!”


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