“THE WORLD IS DESPERATELY SHORT OF GOLD AND WILL REMAIN SO FOR YEARS TO COME.  FOR MANY YEARS THE FEDERAL RESERVE HAS BEEN UNFRIENDLY TO GOLD. ”---Harry Sears, California gold miner, January 29, 1954, speech in Denver.

Statistic---every day year round, on the average, the world gains about 200,000 people net of those passing away; more people to bid on gold, silver and other resources.

“THE PRINTING PRESS RUNS ON FOREVER!”---Silver Senator Patrick McCarran of Nevada, Mining Congress Journal, December 1942, page 21

 “WHY OUR TREASURY OFFICIALS WOULD PREFER PAPER CREDITS TO GOLD IS DIFFICULT TO UNDERSTAND.”---Donald H. McLaughlin, president, Homestake Mining Company, Mining Congress Journal, February 1948, page 70

“No limit was placed on the amount of currency that may be issued and sooner or later so much is issued that all is rendered valueless, despite the backing of the government.  The real solution is the use of a gold value for the currency which provides an automatic brake on the issuance of paper.”---Neil O’ Donnell, vice president, Idaho Mines Corporation, Mining Congress Journal, February 1947, page 80

“A free market for gold would reveal better than any other device the degree to which the dollar has depreciated.”---Donald H. McLaughlin, Mining Congress Journal, March 1949, page 70

“It has become increasingly clear that the elaborate attempt to keep up behind tremendous facades of exchange controls THE FICTION THAT GOLD IS WORTH ONLY $35 AN OUNCE, cannot endure much longer.  This is an international problem and will soon be the touchstone of the failure of the International Monetary Fund.”---South African Finance Minister, quoted in the Mining Congress Journal, March 1949, page 59

“A free market for gold, in addition to being a first step to the return of an honest gold standard, carries definite advantages in the form of a common denominator for world currencies, as an aid to the Treasury in the management of the public debt, as an inflation deterrent, and as a stimulant to foreign economies not underwritten by Uncle Sam.  It will correct a gross injustice to the gold producer.  IT WILL RESTORE TO THE AMERICAN AN ESSENTIAL RIGHT, A RIGHT THAT SHOULD NEVER HAVE BEEN TAKEN FROM HIM.  Free markets are anathema to dictators and planners.  In a free market the individual records his choice.  It is an independence which neither the dictator nor the planner can tolerate.  It imposes a limit on the power of the dictator and cramps the designs of the planner.”---Joseph Lawrence, consultant to the Gold Producers Committee of the American Mining Congress, Mining Congress Journal, March 1949, pages 59 & 71

“The authors of the scheme to tie world currencies together by international bureaucratic fiat believe that gold is a silly anachronism---a leftover from barbaric periods in which the glitter and durability of the metal made an appeal to primitive tastes.  In the modern world, with streamlined currency tactics applied by skilled managements, it is as obsolete as an oxcart.  If these architects of a “new and better world” in the field of money had dared, they would have repudiated gold finally and unequivocally in the Bretton Woods agreement.  The executive agencies in their occasional references to gold all strongly deplore the opportunity for hoarding which a free gold market might promote.  Apparently, the instinctive desire of most people to put away a part of their savings in the form of a substance whose real value is sure to survive depressions, deflation, and disaster is reprehensible, AND STATE ACTION TO DISCOURAGE THAT FORM OF PROVIDENCE, WHICH ELSEWHERE IN THE WORLD IS HIGHLY ESTEEMED, IS DEEMED CORRECT.  The instinctive foresight of the ant, the bee, and the squirrel is in the case of man, condemned.”---Joseph Lawrence, Mining Congress Journal, July 1949, pages 18-19

“I must confess that I have no belief that in monetary management we have found a better monetary mechanism.  For me gold is liberty.”---Dr. J.E. Holloway, Ambassador of South Africa to the United States, Mining Congress Journal, December 1955, page 49

“Continuation of restrictions on ownership of gold and failure to take any steps to make more effective use of the nation’s stock of monetary gold and silver have made action on the recommendations in our previous statements of policy even more urgently needed.  The few surviving gold mines continue to be faced with diminishing profits as costs expressed in depreciating paper dollars continue to rise while the producers must sell their gold at a price fixed over twenty years ago when the dollar had twice its present purchasing power.  The right to own gold is still denied to the American citizen, and the gold miner is allowed no protection whatever against inflation.  Furthermore, with the Treasury acting as a middleman, gold in quantities greater than the entire annual production of the country is supplied to industrial consumers at $35 per ounce, THUS PROVIDING THEM WITH AN UNNEEDED SUBSIDY AT THE EXPENSE OF THE MINERS.  Correction of this gross inequity by restoring to the American citizen the right to buy, sell and own gold without restriction, accompanied by termination of sales of gold by the Treasury to industrial users, would be a simple step that would go far toward relieving the increasingly difficult plight of the gold mining industry.”---Editorial, Mining Congress Journal, November 1956, page 101

Yes, gold miners also have been held hostage to parasitical industrial users; the silver situation received more publicity because more massive injustice was involved, ending in the depletion of the military silver reserve, leaving America critically vulnerable.

The majority of the credit for exposing the conspiracy against the gold price, and against the use of gold for underpinning monetary systems, in recent times, goes to Gold Anti-Trust Action Committee www.gata.org They, and many others who aren’t members of GATA, are well aware that the conspiracy against gold didn’t start in the mid-1990’s.  That is merely the starting point for the most recent phase of anti-gold monetary activity.  Last month we read President Jackson’s own words (“The Silver President”) that the Bank of the United States (until he shut it down) made its paper notes a substitute for gold---in the 1830’s!  Even that was not the starting point for attacks on gold and silver as money.  Obviously if an elite is seeking monetary control over the nations, they must work themselves into control over the volume of money available, and reign as money “creators.”  Hence the abomination, fiat currencies, are inflicted on civilization.  The anti-gold conspiracy is a “Janus” with the anti-silver conspiracy being its other face.  Janus was the Roman mythological god depicted in ancient sculpture in the Vatican Museum---

There was a significant speech by Harry Sears, president of Calaveras Central Gold Mining (California) which was delivered before the National Western Mining Conference at Denver on January 29, 1954.  It was reprinted in Vital Speeches of the Day, pages 399-404 for that year.  Let’s consider what Harry Sears told the other miners---

“There is a conspiracy against gold, here in the United States.  When we consider gold from a practical, legal, and monetary standpoint we find that the present threat facing our citizens, OF BEING PERMANENTLY DEPRIVED OF ITS USE AND VALUE IN MONETARY MATTERS, stems from the same actions by THE SAME PEOPLE WHO HAVE BEEN TRYING TO DESTROY US AS GOLD PRODUCERS.  I propose to outline steps in this conspiracy, actively in progress during most of the past 20 years and using the facilities of the Treasury, Federal Reserve, and the International Monetary Fund TO DESTROY OUR NATIONAL SOLVENCY AND FREEDOM AND DISPERSE OUR GOLD RESERVES.  ANOTHER OBJECTIVE WAS THE REMOVAL OF GOLD AS A BASE FOR MONEY, COMPULSORY ACCEPTANCE BY OUR PEOPLE OF CONSTANTLY DEPRECIATING MANAGED CURRENCY AND THE DESTRUCTION OF GOLD MINING IN THIS COUNTRY.”

“Destruction of gold mining is being accomplished by Government seizure of essential features of our private industry, placing us under an illegal and unconstitutional licensing system, compelling us to deliver our privately owned gold, at a fixed price in dollars, to the Treasury or its agents and depriving us of access and sales to the public or to commercial gold users.  Thus, through gradual shrinkage of the value of dollars our industry has been forced into an intolerable economic position which will eventually put all primary producers out of business.  It is difficult for the average citizen to realize that our success in preventing destruction of gold mining in the United States is of vital interest to them.”

“In their view our industry is somewhat romantic and glamorous, so it is quite understandable that with no practical knowledge of gold and its production, they do not realize that the safety and value of every dollar they earn or save, or will ultimately possess, will be affected by our success in arousing public interest and indignation concerning the following facts.  To us, as producers, gold is simply a commodity, just as wheat, cotton, iron or coal are commodities.  This simple statement has been challenged or ignored by certain economists and monetary experts, claiming that because gold was once used as a monetary metal, here in the United States, we have forfeited the right to consider it as a commodity. 

“FOR MANY YEARS THE FEDERAL RESERVE HAS BEEN UNFRIENDLY TO GOLD.  I quote from an article by the late Dr. E.A. Goldenweiser, written just before his death.  As the principal economic advisor of the Federal Reserve for many years, he qualifies as a hostile witness-- 

“In addition to being a myth, a moral slogan, and a standard of value, gold is also a commodity.  It is produced by labor and management employed by companies owned by stockholders and it is sold to governments and to the public by producers.  The cost of production is met by the companies and the money received for the product is used to pay wages and other costs and to distribute dividends to holders of shares in the enterprise.  In other words in this aspect gold is like any other commodity produced and sold in free economies.”

Emanuel Alexander Goldenweiser was born in Kiev, Russia, on July 31, 1883 and became a statistician with the Federal Reserve Board in 1919 and head of that division from 1926 through 1945.  (Who’s Who, 1949, page 930).  Starting in 1936 and running concurrently with his other position into 1945, he was an economist with the FOMC (Federal Open Market Committee) of the Fed.  He authored (1925) “Federal Reserve System in Operation” and served as president of the American Economic Association in 1946 which, as I have repeatedly furnished examples and proofs in previous essays, is extremely hostile to silver as its bias is in favor of fiat currency; so, it is no surprise that it is also hostile to gold.  Goldenweiser called gold a “myth!”  Too bad he didn’t conduct an experiment in which gold and paper currency were both subjected to flames, and report his findings as to which was still intact afterwards.  The American Economic Association is hosted by Vanderbilt University, named for one of the “robber baron” families behind the founding of The Pilgrims Society, which I call the “paper money mob” or World Money Power.  Returning to Harry Sears in his rejoinder to Goldenweiser---

“That statement justifies the freedom to conduct their own affairs which has been sought by gold producers ever since Government efforts to cripple and destroy them became apparent.  There is the additional fact, almost unknown to the general public, that gold is privately owned, not owned by the Government, that titles to gold mines are under patents, direct grants from the Government of the ground and the gold therein contained, with no reservations.  Rights acquired against the United States, arising out of a contract with it, are protected by the Fifth Amendment of the Constitution which holds that no person “shall be deprived of property without due process of law, nor shall private property be taken for public use without just compensation.”

“THOSE RIGHTS WERE VIOLENTLY INVADED WHEN, UNDER THE PLEA OF EMERGENCY, ALL GOLD WAS BLANKETED UNDER ROOSEVELT’S FIRST GOLD EMBARGO ORDER ON APRIL 20, 1933.  The gold standard had been in effect since 1834 with a stable price for gold of $20.67 an ounce.  This price was not by Government mandate or regulation but merely the best price buyers would offer and that sellers could secure.  But gold producers were in serious trouble in 1933.  Although the price of gold had remained stable throughout the previous century the purchasing value of dollars had declined 77 percent, giving the dollar a practical value of only 23 cents.  This put gold, from a producers’ standpoint, at $4.75 per ounce.”

“This fact is practically unknown by the majority of bankers, legislators, and the general public.  It has been overlooked, suppressed, or ignored by economists, teachers, and monetary experts who base all of their calculations on the use of gold and do not inquire into the facts of its supply.  History gives proof that the gold standard is not a cure all for mistakes or dishonesty of governments and that it does not of itself have the power to prevent the shrinkage in purchasing power of currencies.  The century of its use gives the lie to those who waste energy and create confusion in promoting return to gold convertibility with false promises and more wishful calculations that it will restore or insure indefinitely the purchasing power of dollars.

Sears just referred to the state of affairs in the Jackson administration during 1834, one of the peak years in the struggle between the President and the Bank of the United States; the struggle between Constitutional gold and silver money and fiat paper notes.  Sears might have done better to reflect on the continuing manipulations against gold by financiers such as Jay Gould, J.P. Morgan, the Rothschilds and Speyers and the other bankers who founded their secret organization, The Pilgrims, which to this very moment controls the finances of Britain, Europe, Canada, Australia and the United States, and will not release a membership list.  Sears appeared to believe that even as of 52 years ago, the paper dollar had suffered so much depreciation, that it could not be directly saved by a return to gold backing---that the paper money would have to spiral down to worthlessness first.  He would be amazed at how much longer this paper system has lasted.  But the depreciation never stops, and someday all confidence may be lost in the ill-conceived Federal Reserve Note.  More from Harry Sears, California gold miner---

“In 1933 the world had abandoned the gold standard, prices of gold were higher abroad, which offered relief through export sales for our hard pressed industry.  When the President’s embargo was announced there was a storm of protest from the mining industry for here was an order to take from them their privately owned product, compelling them to turn over gold to the Treasury at $20.67 an ounce, IN DEPRESSED DOLLARS, when there were higher prices for gold in world markets abroad.  I took an active part with other producers in exchanges between the White House, the Treasury, and other departments with the result that newly mined gold was permitted sales at the world price.”

A mining executive who would actually speak out!  Somewhat of a rarity, but this type must become less so if our rights as shareholders---and citizens---are to receive the respect they are due 

(Start page 400 with paragraph title “A Banking Not A Mining Order”)

“In construing the word “gold,” in the first Executive Order of 1933, the Attorney General held that this meant “gold coin,” “gold bullion,” and “gold certificates.”  It was therefore a banking and monetary and not a mining order.  None of the gold in our mines had ever been in the Government’s possession as monetary gold and it clearly retained its commodity status right up to the point of a voluntary sale to the Government.  The Attorney General recognized this in his ruling.  This is the heart and essence of the legal status of newly mined gold in the United States under our American way of life.  There is no constitutional power in either the Congress, the President, or the Secretary of the Treasury, to say otherwise.”

Attorney General from 1933-1939 was Homer S. Cummings, an 1891 Yale graduate and a member of the American Society for International Law (founder in 1906 by Pilgrims member Robert Lansing)---

The Attorney General is invariably in with the paper money mob.  Francis Biddle, of the same Biddle family as Nicholas Biddle of the second Bank of the United States, was Attorney General 1941-1945 and was deputy chairman of the Federal Reserve Bank of Philadelphia, 1938-1939.  Coincidence?  If you believe that you cannot be helped.  More from Harry Sears---

“For a few months at the end of 1933 we had our legal freedom to receive the free market price for our gold.  But during these same few months ROOSEVELT WAS SURROUNDED BY HORDES OF CONNIVERS WHO WERE GOING TO REMAKE THE WORLD.  That was the period when Congress was ordered to pass laws regardless of considerations as to their constitutionality.  This was followed by the Gold Reserve Act of 1934 and the setting of $35 for gold which became the world price.  This act was first passed by the House of Representatives without any of the Congressmen knowing what they were voting on.  They did not even have a copy of the act before them at the time.  They were told by Roosevelt to vote “yes” and to pass it.  They did.  It was a perfect rubber-stamp process exactly as in Soviet Russia.”

“There was some debate in the Senate, practically all on the subject of the $2 billion stabilization fund and its control by Secretary Morgenthau.  They feared to trust him and his ability.  There was no mention of mines or newly mined gold except references to its special and privileged position.  This may sound fantastic but if anyone cares to check the details just look up the facts in the Congressional Record.  There could not, therefore, have been any intent in the minds of the Congressmen to control newly mined gold.  Such intent could only have been in Roosevelt’s mind and in the mind of his tool Morgenthau, who as Secretary of the Treasury was responsible for the gold regulations that followed.”

Franklin Delano Roosevelt was a member of the British-American Pilgrims Society, the paper money mob; Morgenthau the Treasury Secretary was a second-generation member---

Eleanor Roosevelt, FDR’s widow, was hosted at a meeting of The Pilgrims of Great Britain, April 12, 1948.

Morgenthau’s grandmother was Babette Guggenheim of the prominent copper and polymetallic mining family; his father (Order of the British Empire) represented the interests of Great Britain, the United States, France, Italy, Russia, Belgium and Switzerland during 1914-1916 and was a founder of the American Red Cross---

Commenting on the League of Nations, forerunner to the United Nations, Morgenthau said---

 “All who love America and peace and liberty will take a solemn pride in supporting the President in his efforts to secure a treaty of peace based upon a stabilizing league so that war may not recur and the standards of justice may be applied to all nations alike.”

I submit that if we love America we will not give higher allegiance to an international organization like the United Nations, which is nothing more than a scheme by the big monopolistic rich to return the world to Feudalism.  Morgenthau was a large part of the reason China was forced off its silver standard.  I believe Roosevelt and Morgenthau’s motive for the Silver Purchase Act of 1934 was to concentrate as much of the world’s silver as possible in the U.S. Treasury, knowing that their Pilgrims Society associates intended to disassociate it from monetary use as fast as was politically possible---a feat that required 30 years of Congressional subversion.  Morgenthau made his large contribution to the monetary subversion known as the Bretton Woods Conference in 1944, out of which the sinister International Monetary Fund and the World Bank were launched.  In “Honest Gold and Managed Currency” (Mining Congress Journal, February 1950, page 53, Merrill E. Shoup, president, Golden Cycle Corporation stated---

“The Bretton Woods plan was a major mistake, sold to the United States by Lord Keynes, whose brilliantly insolvent economics have been widely accepted in Washington.  He originated the statement “a national debt is of no consequence since we owe it to each other” and “gold is a relic of the dark ages.”  A major error in the Bretton Woods Plan was freezing world paper currencies at inflated wartime levels, or at nominal values set by signatory nations.  These values were FICTITIOUS then; and the fiction is glaringly apparent now, when inflation increases while world needs grow and production stalls.  The failure of the Bretton Woods plan to solve world difficulties has been completely demonstrated, as evidenced by the wholesale currency devaluations by signatory nations.  The Bretton Woods plan should be promptly abandoned to fit actual worldwide conditions.  The United States should promptly establish a free market in gold.”

More from the speech by gold miner Harry Sears---

“That was the initial lawless act in the conspiracy against gold mining and against our privately owned gold.  We do not condone the seizure of gold from the public, or the denial of the rights of citizens to possess gold (through provisions in the gold regulations) but these are another class of offenses against all citizens and must not be confused with our basic ownership of gold under our grants of title from the Government.  All gold mines contain gold in its natural state, always alloyed with silver and usually in a rock or vein formation and intermingled with other metals or minerals.  Some gold may be mined in its natural state, as with placer gold, but usually it must be processed to insure its recovery, avoid losses, and put it into marketable form.”

“The mandatory requirements that a producer must secure a Treasury license before he can smelt and prepare his gold for sale, plus the requirement that it must be sold at the Treasury price to a licensed buyer or dealer, or to the mint, PLUS THE DENIAL OF THE RIGHTS OF CITIZENS TO HOLD OR ACQUIRE PROCESSED GOLD IN THE FORM OF BARS OR BULLION, UNDER PENALTY OF PROSECUTION AND CONFISCATION, CONSTITUTE A SERIES OF UNLAWFUL ASSAULTS ON THE PROPERTY RIGHTS OF CITIZENS, against both buyer and seller, exactly as has been done under Soviet rule.  It is clearly a violation of the gold producer’s property rights guaranteed under the Fifth Amendment.  These things were the product of Morgenthau and his advisors.”

Attacks on gold and silver money, monopoly measures exerted by the Federal Government, have never happened by accident.  Plans are made outside the District of Columbia, then implemented there.  I have been able to positively identify enough members of The Pilgrims Society over the years, and to piece together their reason for existing, to see that it is from this central Society that warfare is waged against gold and silver and their use as money.  As the years went on after 1933, the gold price cap set by Federal edict at $35 did terrible damage to gold producers by forced payment in ever-depreciating currency.  Pilgrims member Morgenthau, a second tier member, got marching orders from the inner core of the Society---names like Rothschild; Windsor; Mellon; Rockefeller; Astor and possibly others---people behind the central banks.  In implementing infamous the anti-gold measures of the tyrannical Roosevelt administration, Morgenthau was following Pilgrims Society dictates including “the seizure of the wealth necessary…a secret society gradually absorbing the wealth of the world” (American Review of Reviews, New York, May 1902, pages 557-559).

“When the Government was sued because of their abrogations of contracts and bonds calling for payments in gold they were only upheld by a slender margin under a tortured Supreme Court decision which held in effect that even with the constitutional power of Congress to fix the value of money, their paper dollars for gold dollars could only be used because the plaintiffs failed to allege or prove damage through loss in purchasing power.”

We could make a whole other essay on the background of the 9 Supreme Court justices at that time.  A quick rundown yields the following---all nine were appointed by Pilgrims Society members (Presidents Theodore Roosevelt; Taft; Harding; Coolidge; Wilson; and Hoover).  George Sutherland was born in England, questionable in itself considering the position he held; Sutherland authored (1919) “Constitutional Power and World Affairs;” Benjamin Cardozo, before Supreme Court appointment by Herbert Hoover, was appointed to the New York Court of Appeals by Governor Whitman (Pilgrims member).  Chief Justice Charles Evans Hughes (1930-1941) was a Pilgrims member himself, a trustee of the Rockefeller family controlled University of Chicago.  “The Pilgrims of Great Britain” book (2002, page 114) showed Hughes sitting between anti-silver British Royalty, the Prince of Wales and the Duke of Connaught while Hughes was Secretary of State (1921-1925)-

With connections such as these to the paper money mob, no wonder the Supreme Court ruled against the gold miners!  Returning to Harry Sears---

“Purchasing power of dollars---the principle was established that the purchasing power of dollars controls the power of Government actions as to contracts, or property, or where the value of a payment was substituted for another form of payment.  Excerpts from the minority dissenting opinions of the Court were really prophetic.  Justice McReynolds said---

“Congress really has inaugurated a plan primarily designed to destroy private obligations, repudiate national debts and drive into the Treasury all gold within the country in exchange for inconvertible promises to pay, of much less value.  The power to issue bills and regulate values of coin cannot be so enlarged as to authorize arbitrary action, whose immediate purpose and necessary effect is destruction of individual rights.  As this Court has said a power to regulate is not a power to destroy.  The Fifth Amendment limits all Government powers.  Congress has power to coin money but this cannot be exercised without possession of metal.  Can Congress authorize appropriation without compensation of the necessary gold---of course not.  The limitations prescribed by the Constitution restrict the exercise of all power.”  (End of remarks by McReynolds).

But didn’t I say, that McReynolds was appointed by a Pilgrims member; therefore, why would he speak for gold producers and property rights?  There are two possibilities.  First, it was done as window dressing to suggest the Court had someone interested in fairplay.  Two, as we saw last month, Andrew Jackson had to fire his first two Treasury Secretaries who refused to act against the Bank of the United States.  The reverse principle is also subject to happening---someone the bad boys thought was in their camp, wasn’t quite there.  Most of the judges who are appointed appear to do as expected.  Continuing with Harry Sears-- 

“These things which were abhorrent to the Court have since become common practice in the enforcement of Treasury regulations against gold producers.  This was another step in the conspiracy.  Throughout the years THESE REGULATIONS HAVE STOOD AS A RECORD OF SHAME.  They have not even been changed under the present administration which still follows the program outlined by the clique who have controlled the Treasury through the past 20 years.”

To my knowledge we haven’t had any worthwhile Treasury Secretaries since before Thomas Ewing became Treasury Secretary in 1841.  He was a Senator from Ohio (1831-1837) who advocated rechartering the Bank of the United States---destroyed by President Jackson.

“Treasury monopoly of gold---under their regulations the Treasury has established a monopoly of gold, refusing to sell it to the public to hold it and delegating to itself, and to its licensed dealers the sole right to supply gold to commercial users.  These sales of gold in the United States during the past 12 years have been $275 million greater than the entire gold production of the United States for the same period.  Not an ounce of gold mined in the United States has reached the so-called monetary stocks of the Treasury, the protection of which was purportedly the original purpose of issuing the regulations.  We are told that the Treasury is operating on a gold bullion standard, that it is prepared at all times to buy and sell gold at $35 an ounce to foreign governments or holders of dollars.  Apparently the only practical effect of this standard is to fix a standard foreign sales price at $35, just as the standard price to industry in this country is $35.”

(Start page 401)---

“Although only a trustee for the gold, of which our citizens and taxpayers are the equitable owners, it having been bought with their dollars, these sales abroad, and here, have been continuously conducted for merely the specified number of dollars, COMPLETELY IGNORING THE FACT THAT THEIR PRESENT BUYING POWER OR VALUE IS ADMITTED BY THE SECRETARY OF THE TREASURY, AND THE PRESIDENT, TO BE ONLY 50 CENTS.  OUR CITIZENS GOLD IS THEREFORE BEING SOLD AT NO MORE THAN THE EQUIVALENT OF $17.50 AN OUNCE, AND IT IS NOT BEING REPLENISHED.”

“During the first few years of the regulations their illegality was not very apparent, purchasing power of dollars remained fairly stable.  Then came the next step in the conspiracy.  Acting together, the Treasury and the Federal Reserve began to produce TIDAL WAVES OF DOLLARS, the buying power of dollars was steadily forced down, operating costs of business and Government went up.  WHO WERE THE HIDDEN POWERS OF THIS CONSPIRACY?  Why did Government departments cooperate with them and take orders from them?”

What follows shows a lack of insight on the part of Harry Sears.  He blamed Communists when the blame rested with bankers.  He even quoted bankers who as we will see, expressed opposition elsewhere to precious metals as money.  He blamed front men and didn’t recognize them as mere actors sent onto a stage by managers behind stage curtains---

“Actors in the conspiracy---during November and December, 1953, the press, radio, and television brought us devastating evidence of the existence of Communist spies and Soviet agents occupying positions of great power and prestige throughout many departments of our Government.  They had been there for many years and apparently some were still there.  These people had not been merely tolerated, THEY WERE SHIELDED AND PROMOTED BY SOME OF THE HIGHEST OFFICERS IN THE PAST ADMINISTRATION.  The evidence so far chiefly concerns the existence of these Soviet agents.  Very little has been said about the damage they did.  Let us consider the key figure of the recent disclosures, Harry Dexter White.”

Notice Sears admitted White was shielded and promoted by others.  Those others were his intermediate bosses; they in turn had bosses themselves, not in government office.  Neither of these tiers of bosses were Communist in any sense other than implementing policies that helped build Communist strength.  The reason traces to balance of power politics and banking!  There must always be an enemy; if not, create one.

“There is enough evidence already on the record to show that he was the organizer and guiding force of the Treasury, and that his power expanded from there into practically all the fiscal and financial departments of the Government during the greater part of both the Roosevelt and Truman administrations.  He was surrounded by willing helpers, many of his own choosing and others who were willing to support his policies.  With the operations of this clique extending into the Federal Reserve, a totalitarian line of thought and practice began a deliberate program of inflation, putting billions of excess dollars into circulation, reducing the purchasing power of dollars, and thus ROBBING OUR CITIZENS OF LARGE PARTS OF THEIR SAVINGS, INSURANCE, PENSIONS AND INCOMES.”

“In an interview published in U.S. News & World Report of December 4, 1953, Mr. W. Randolph Burgess speaks on these actions, answering an interviewer’s question as to what was meant by releasing the Federal Reserve---

“I mean the previous administration held the Federal Reserve System captive until a couple of years ago.  Now, why the Federal Reserve System allowed itself to be a captive of the Treasury is another question.  But they used the Federal Reserve System to peg the prices of Government securities instead of doing their statutory duty of influencing the volume of money in the public interest.  It added to the money supply and, as Senator Douglas said in a speech in the Senate, that was the policy which had encouraged inflation and cost the American people billions of dollars.”  (End of remarks by Burgess).

Burgess dealt in doublespeak.  The Treasury and the Federal Reserve were both in the same camp, and he knew it.  The same went for anti-silver Illinois Senator Douglas (profiled here last January, “The Greatest Right,” Archives).  Burgess delivered an address to the anti-silver American Economic Association in which he advocated lowering of the Federal price cap on silver (Commercial & Financial Chronicle, January 1, 1938, page 45).  At that time Burgess was president of the Federal Reserve Bank of New York.  There was an earlier reference from Burgess in the C&FC in which he faulted silver for monetary ills (date and issue---currently somewhere in a huge stack of papers---trust me, he blamed silver).  Burgess also appeared in the leaked 1969 list of The Pilgrims.  Again, the paper money mob.  Burgess chaired the American Bankers Association, 1944-1945---another anti-silver organization.  In 1965 the ABA spoke of outlawing “silver hoarding.”  Burgess had other brother Pilgrims members more openly tyrannical towards metals than himself such as Henry Clay Alexander of J.P. Morgan & Company and the Vanderbilt interests.  H.C.A. advocated measures to insure that Americans could not own gold stored in other nations!  (Proof to come in later essay).  Henry Clay Alexander was named after Henry Clay, Secretary of State in 1825 who supported the Bank of the United States---paper money mob!  There was another Pilgrims member apparently named after Henry Clay, that being Henry Clay Johnson, head of the British controlled Royal Globe Insurance Companies (“Statesmen’s Who’s Who,” 1969 page 461).  Burgess was a director of Royal Liverpool Group; International Banking Corporation; chairman of the Monetary Policy Committee of the International Chamber of Commerce, 1946-1947; undersecretary of the Treasury, 1955-1957, where he helped formulate plans against silver certificates and silver coinage; U.S. Ambassador to NATO, 1957-1961; trustee, Academy of Political Science; trustee, Teachers College of Columbia University, et cetera.  Burgess chaired the Atlantic Treaty Association, 1961-1963, a British front trying to strengthen NATO to end U.S. national sovereignty.  If there was ever a band of conspirators who never give up, it is the British---still intending to control North America.

The point about Burgess is that he was one of many cases in point of bankers acting like they seek fiscal responsibility on the part of government, when in fact they do not; they want deeper debt for us.  Returning to Harry Sears---

“The conspiracy was now rolling along under high pressure.  The effrontery of their acts was shown when White, as Assistant Secretary of the Treasury supplied our engraved money plates and quantities of paper and ink TO THE SOVIETS SO THEY COULD PRINT OUR CURRENCY IN SPURIOUS MILLIONS WHICH THEY CIRCULATED IN BALES THROUGH SOVIET TROOPS IN GERMANY WHERE HUNDREDS OF MILLIONS OF THIS PHONY CURRENCY HAD TO BE REDEEMED BY OUR TREASURY.”

Redeemed in gold bullion, that is!  Was Harry Dexter White a Soviet or Communist agent?  In a sense, yes.  But more importantly, he was an agent of the World Money Power---the paper money mob---The Pilgrims Society.  White is profiled in “Rockefeller Internationalist” (1952) with plenty of proof of his status as a Rockefeller family flunky.  The Rockefellers and other Pilgrims Society dynasties were long involved in financing Communism and building the Soviet empire, until more recently when a decision must have been made to splinter the former U.S.S.R. as being advantageous to continuance of the “balance of power” in the world.  See Gary Allen’s December 1975 article “Building Communism.”

“Expanding Conspiracy Against Gold---In the early part of the drive on gold mining there was a great propaganda drive to discredit gold.  The Soviets and Hitler were buddies at that time, and their agents here who were expanding their organization into Government and private financial circles manipulated these sources to promote fear that gold was to lose its value and all trade was to be done with barter.  Gold mining was a waste of time and energy, people ought to turn their attention to something useful.  THE EFFECT OF THIS POISONOUS PROPAGANDA WAS DEADLY.  Financing for gold mines was stopped dead in its tracks and some producing mines began to plan curtailment.  Then the party line changed, the Soviets and Hitler ended their honeymoon and Stalin was ready to move in with expanded plans of control of our Government.”

Again Sears identified effects yet reached a faulty conclusion as to cause.  Stalin had no influence in the U.S. Government, except that Pilgrims members like Averill Harriman (married into the Churchill family) used the Lend-Lease Administration during World War II to dramatically expand Soviet military and industrial power.  While we were fighting Germany and Japan we were building up Russia, even as Stalin was known to be a murderous butcher of millions of Russians.  Even though Stalin intentionally starved some 7 million Ukrainians in 1933, Time magazine named him its “Man of the Year” for 1939!  At Potsdam and Yalta in 1945, Roosevelt collaborated with his Pilgrim partner, Winston Churchill, to turn over all of Eastern Europe, and East Germany, to Communist control---

This was not necessary but these Pilgrims did it.  And they speak of “promoting the sentiment of brotherhood among the nations” in their super-secret bylaws.

“The drive against gold mining became more definite.  Regulations, restrictions, and low priorities became the order of the day in shutting down on our supplies.  With the limited price of gold we could not compete with rapidly mounting demands from labor and production became difficult.  Then we were in the war and the sky was the limit.  Our pal “good old Joe” was given the keys to all the front doors, he already had most of the back doors open and was loading out everything his agents could lay hands on.”

Here he makes another reference to Joseph Stalin, in an apparent belief that it was Stalin who was running the conspiracy against gold.  There could easily have been Communist activity against gold in America.  But from the highest levels all activity against precious metals comes from the fiat currency crowd---based in London and New York.  Dictator, mass murderer Joseph Stalin (1878-1953), a common bully as a boy, opposed gold ownership by his subject peoples---

“Gold mining was now to get its death blow.  Calling on their network throughout Government departments the conspirators came up with phony statistics showing that gold mining was unessential, that if it were closed down, thousands of men would be released to mine necessary metals and the equipment and supplies used by gold mines would be shifted to national defense.  All of this finally produced the notorious WPB Order L-208 and the gold mines were closed.  As we know, OURS WAS THE ONLY INDUSTRY DEALT WITH IN THIS DRASTIC WAY.”

“In those days the conspirators and their records were blanketed under secrecy classifications.  The full powers of government were available to shield them from inquiries as to the necessity or honesty of their acts.  In the Jenner report of last year, “Interlocking Subversion in Government Departments,” we find a number of names of persons and departments who were active in closing gold mines.  We note one example.  One of the exhibits introduced in the hearings in 1945-1946 on the bill H.R. 4393 introduced by Congressman Clair Engle in an attempt to get some returns from the Government for the losses of gold mines through the enforced closing, was a formerly secret letter written by Milo Perkins, Executive Director, Economic Defense Board, December 19, 1941 (almost a year before gold mines were closed) where he said---“In dealing solely with the question of gold mining equipment there is a danger of losing an opportunity both to solve the long term aspects of the gold problem and to maximize the joint war effort.  Such an opportunity exists now.  The United States can and should use the power that is derived from being practically the sole buyer of the yellow metal in order to initiate a program of gradual reduction in gold production.  Such a program would contribute to the maximization (start page 402) of the joint war effort and at the same time would facilitate a solution of the postwar gold problem.  It is essential that a reduction in gold mining should be envisaged for the postwar period.”

“Please note that these actions planned against gold mining were admittedly sought for the POSTWAR years.  From other secret but now declassified records, we find that as the gold mines here were closed the Soviets were supplied with gold mining equipment and materials under the highest priorities, throughout the war, in greater quantity than would have been used by all United States gold mines.”

The Lend-Lease Administration was run by Harry Hopkins, often alleged to be a Red agent.  Under Lend-Lease, some $50 billion of war and war supporting materials---including silver for coinage (see “War And Silver,” Archives) was transferred to other nations, including huge amounts to Soviet Russia, including almost 2,000 locomotives.  Harry Hopkins (1890-1946) started in 1913 with the New York Association for Improving the Condition of the Poor, a social sham organization.  Hopkins was hired by Pilgrims Society member Robert Fulton Cutting, sometimes known as “the first citizen of New York” due to his extensive hereditary connections to such large land holding families as the Bayards and Livingstons (J.P. Morgan’s son married a Livingston), known British collaborators since Colonial times.  According to www.search.barnesandnoble.com “his genealogy could be a translator’s key to old New York” (to the Crown collaborators there!)  Cutting was an early trustee of the viciously anti-silver Brookings Institution, later chaired by Dillon, the Treasury Secretary who ended our silver coinage that the Money Power so despised.  According to www.mega.nu:8080/ampp/gary_allen_rocker/ch12-epi.html Hopkins was on the take from the Rockefeller Foundation for at least ten years.  Pilgrims member Franklin Roosevelt selected Hopkins to run Lend-Lease as its figurehead, when the real power was known to be William Averill Harriman, heir to the Union Pacific Railroad and banking fortune, member of Skull & Bones and The Pilgrims Society, who married into the Whitney family (Standard Oil, Pilgrims) and later Churchill family of England (Pilgrims).  Harriman also developed the Sun Valley Resort in Idaho---

Gallatin County in Montana is named for Albert Gallatin, British collaborator and key supporter of the second Bank of the United States.  Mount Rushmore in South Dakota was named for another member, Charles Rushmore, a New York attorney.  INTERPOL was founded by Pilgrims member Barron Collier, largest landowner in Florida after whom a county is named.  A lengthy list of amazing examples could be offered.  The influence of this Society is so far ranging, and its power so enormous, as to stagger the mind; this conclusion is apparent with only fragmentary information.  So when Harry Sears attributed Government actions to Communist influence, he was only looking at the front men---not the actual powers behind the scenes.  Harriman’s close friend from Yale (Scroll & Key Society, Pilgrims) was Dean Acheson, Secretary of State, who became known as the “father of NATO” (North Atlantic Treaty Organization), another British attempt to re-absorb the American “colonies.”  Harriman was known as Harry Hopkins “mentor” (Hopkins)---

Harry Sears made reference to the War Production Board and its Order L-208 closing American gold mines.  The WPB was parellel to the Lend Lease Administration in that the agency head was a front for the real power man there.   FDR tapped Donald M. Nelson from Sears, Roebuck & Company to head WPB.  The real power at WPB was Pilgrims Society member Ferdinand Eberstadt, vice-chairman; also chairman of the Army and Navy Munitions Board.  Eberstadt got his start in finance with Dillon, Read & Company, under Pilgrims member Clarence Dillon, who Business Week called “the brilliant financier of the 1920’s.”  Dillon’s son, Douglas Dillon, another Pilgrims member, was the Treasury Secretary 1961-1965 who presided over the demise of Constitutional silver coinage---

Edwin Kemmerer, a notorious anti-silver economist prominent in the 1920’s through 1940’s, was a director of United States & International Securities, created by Dillon, Read & Company.  Kemmerer was president of the American Economic Association in 1926---rabidly anti-silver!  Kemmerer was also a director of Bullock Fund; run by Pilgrims member Calvin Bullock, whose son Hugh later became president of the U.S. branch of the Society.  Kemmerer wrote “Monetary System of Mexico” (1917) in which he complained about the use of silver, and advocated a central bank of paper issue.  In 1925, the Bank of Mexico was created.  Today, it is the bitterest enemy of silver remonetization in Mexico.  Let’s get some more commentary from miners as to Order L-208 (Mining Congress Journal, February 1947, page 79) article titled “Gold Mining in the Doldrums” by Neil O’ Donnell, vice president, Idaho Mines Corporation---

“Two dates in recent times are remembered well by gold mine operators.  The first is October 8, 1942, when all gold mines in the United States were closed by Limitation Order L-208.  The other date is July 1, 1945, when the order was rescinded.  Two facts are even more vividly remembered.  The first is that economic loss was brought to the industry by L-208, and the second fact is that the cost of production of gold has risen so high since the commencement of the war that the majority of mine operators have found that gold mining is either a business with greatly reduced profits, or an unprofitable business.  Although L-208 passed into history on July 1, 1945, the effects of its existence are still with us.  When the gold miners were ordered to close their properties on October 8, 1942, no provision was made to lighten the inevitable burden which was to descend on their shoulders.  No gold mine operator came through the 33-month period of closure without suffering serious losses, AND IN MANY CASES THE MINE OWNER WAS RUINED FINANCIALLY.  If any lesson is to be learned from the issuance of L-208, it is that a shutdown order is a weapon of fearful potentiality.  The passage of this order and the subsequent REFUSAL OF THE GOVERNMENT TO INDEMNIFY THE OPERATORS is an occurrence which should give not only mine operators, but all citizens pause to consider.  A PRECEDENT IS ESTABLISHED WHICH MIGHT TOUCH NOT ONLY MINING CONCERNS, BUT ANY CITIZEN.  WHO SHALL SAY NO TOMORROW IF A BUREAU OF THE FEDERAL GOVERNMENTORDERS YOUR BUSINESS CLOSED FOR 33 MONTHS?”

The people staffing these high echelon levels of the government today will be of the same character as that of 1942.  They will be members of the public front known as the Council on Foreign Relations.  The most elite of them will be members of The Pilgrims, who in the words of their founder Cecil Rhodes, exist to carry out “the seizure of the wealth necessary” (American Review of Reviews, May 1902, pages 557-559).  Using Federal power to destroy those in their crosshairs is nothing new.  It remains a truly serious threat to anyone with stakes in gold and silver.  The invoking of unconstitutional orders is set to coincide with the creation of “emergency conditions” in order to allegedly justify tyranny.  The menace is not based in Moscow or Beijing or Teheran but in New York and London. 

Ferdinand Eberstadt, the real power in the War Production Board with its Order L-208 closing gold mines, controlled Donald Nelson in the same way that Nelson Rockefeller was the real power in the Ford Administration.  Eberstadt founded Eberstadt & Company, investment Bankers, and Chemical Fund.  He married into the Van Arsdale family, descended from Dutch landowners, and was a member of such internationalist clubs as Lyford Cay (Bahamas).  Eberstadt’s papers, stored in the archives of Princeton University Library, reveal his dealings with the anti-silver Dillons; Queen Elizabeth, Patron of The Pilgrims Society; Francis Biddle, once with the Federal Reserve Bank of Philadelphia, and member of the Biddle family associated with the second Bank of the U.S.; Illinois Senator Paul Douglas (anti-silver); President Herbert Hoover, who backed British moves in the Depression against an international silver conference in Mexico City; Cyrus Eaton, notorious Soviet trade promoter associated with Pilgrims member John D. Rockefeller Jr.; Averill Harriman of Lend-Lease; Mellon family operative William Donovan of Office of Strategic Services (forerunner to the CIA); Pilgrims members Allen Dulles (CIA chief) and John Foster Dulles (International Nickel Company; Bank of New York; Rockefeller Foundation; Secretary of State); John T. Connor, a Pilgrims member on the Coinage Commission that recommended the cupronickel slugs; Senator Stuart Symington (Pilgrims) who as Secretary of Defense wrecked Northrop Aviation when it refused to an unfavorable takeover with Atlas Corporation (Convair) controlled by Floyd Odlum (Pilgrims); Clifford Carver (Pilgrims) of the American Whaling Company and other interests who married Helena, daughter of General Sir John Maxwell (Pilgrims) in 1919; and many others.

Eberstadt consulted with the Rockefeller Committee on Department of Defense Organization in March 1953, which probably had to do with defense contractors looting the public.  Eberstadt spoke at the Economic Club of New York (anti-silver) on March 15, 1965, while the paper money mob was finishing off silver coins-- 

So keep in mind that when Harry Sears saw anti-gold forces working with Communists, they were in fact financier fronts for the paper money mob, whose base is in London---not Moscow.  The same bullion banking circles attacking gold in Harry Sears time trace directly to our contemporary anti-precious metals perverts.  The book above would have been better titled “The Will To Loot.”  Continuing with Harry Sears---

“White Was Building A Communist Apparatus---After organizing the Treasury and Federal Reserve for his purposes, White worked with Alger Hiss and the Soviet and Polish delegates and Lord Maynard Keynes from England who became the architects, with White as director, and they launched the International Monetary Fund, presumably to accomplish the exchange of various currencies, but in reality a trap to sluice away our Treasury gold.  Currency exchange is further from accomplishment now than when the Fund started.  The world is in a greater monetary mess, but they all agree on one objective, the accumulation of dollar balances with which they can buy our gold, while nations struggle through the intricacies of nearly 3,000 clearing currencies.”

Here again Sears saw Communist influences but failed to recognize the superior influence of the bankers who helped build such empires for balance of power (managed conflict) purposes.  There was no need for White to “organize the Treasury and the Federal Reserve for his purposes,” those entities were already long since controlled by the Anglo-American paper money mob.  As one of many examples, Viscount Harcourt was running the IMF in the mid-1950s.  Sears had nothing to say on the matter of Lord Keynes being associated with the Rothschilds (Pilgrims) and also the fact that Keynes worked under Crown agent Lord Halifax, who as British Viceroy of India placed Keynes on the Royal Commission that demonetized silver in India in 1926 and triggered the Great Depression, by wiping out half the buying power of the entire world!  By demonetizing silver in India and dumping it on the Shanghai market, a price collapse in silver was set in motion that nearly destroyed its value all over the world.  Anti-silver conspirator The Earl of Halifax, President of The Pilgrims of Great Britain (1950-1958) personally triggered the Great Depression---

The effects of what Viceroy Halifax did were of course amplified by the actions of Andrew Mellon, megabillionaire Treasury Secretary and Lord Montagu Norman of the Bank of England, who initiated the crash of the U.S. stock market in 1929---both prominent members.  Mellon held large positions in over 300 corporations and was the transcendent financial genius of the entire 20^th century---

According to a New York Times article, May 6, 1931, page 15, S.R. Bomanji, Indian delegate to the International Chamber of Commerce and representative in London of the Indian Chamber of Commerce---

“ENGLAND MOST CERTAINLY HAS DEFRAUDED INDIA.”

Bomanji was a political ally of nationalist leader Mahatma Gandhi---jailed by the British.  Resuming with Harry Sears---

“With the Treasury, Federal Reserve, and Fund working under the guidance of White they were in effect an active Communist apparatus developing a basic principle pronounced by Karl Marx, “the surest way to overturn the social order is to debauch the currency. 

None of these entities were working under Harry Dexter White’s guidance.  He was certainly in communication with all of them, but he was a high-level flunky---not some king maker calling the shots from behind the scenes.  In “Rockefeller Internationalist---the Man Who Misrules the World” (1952, Emanuel Josephson), pages 288-289 we notice---

“Harry Dexter White, top advisor to Secretary of the Treasury Henry Morgenthau, died mysteriously after being questioned by the House Un-American Activities Committee.”

In “The Federal Reserve and Our Manipulated Dollar” (1975, Martin Larson) page 99 we find---

“On two occasions assassins attempted to kill McFadden with gunfire; later he died, a few hours after attending a banquet, and there is little doubt that he was poisoned.”

Louis McFadden was a Capitol Hill opponent of the Federal Reserve System.  We still look back on the attempted assassination of President Jackson, and its strongly suspicious links mentioned by some non-controlled newspapers of that time, to the Bank of the United States.  Harry Dexter White indeed helped Soviet Russia.  But he was a paper money mob agent, not a Communist agent.  White in no way called any shots against gold.  He carried out orders given to him by Pilgrims members such as Morgenthau and Roosevelt.  Resuming with Sears---

“Through the Monetary Fund we were led into agreeing that there should be no change in the $35 price for gold without Congressional action.  We must still continue to sell gold to the world on demand, AT THE BARGAIN PRICES CHARTED BY OUR DEGRADED DOLLARS, or hold a full debate in Congress and put the world on notice of any plans we make to stop these SUICIDAL DRAINS ON OUR NATIONAL GOLD RESERVES.  Later we will discover how we have been trapped by this device.  With such notice nations throughout the world can immediately act to withdraw their gold with the dollar reserves they hold.  OUR GOLD RESERVE IS THEN GONE AND CANNOT BE REPLACED.”

“While the conspirators were working we were living under a barrage of propaganda from Government and outside sources, much of this coming from economists, professors and financial advisors, to change our way of thinking and our habits of living.  In light of recent revelations we now see a veritable rogues gallery of those who stand unmasked, but who formerly posed as authorities and wielded remarkable powers.  We can trace much of their propaganda to straight Communist doctrine.  “The right to work” is a phrase put forward by Engles in 1893.  “Race, color or creed,” comes directly from the Manifesto of the First Communist International, dated 1864.  “We owe it to ourselves,” was advanced as “The modern doctrine that a nation becomes richer the more deeply it is in debt,” by Karl Marx in 1867.  “A quart of milk a day,” was the formula proposed by Lenin in 1917.  How often have we been told through their brainwashing that “TO RAISE THE PRICE OF GOLD WOULD DEVALUE THE DOLLAR,” or that it would be “inflationary” or that “the only ones who want a higher gold price are the miners,” so that they can “increase their profits.”  AND WE ARE CONSTANTLY BEING TOLD OF THE INIQUITY OF CITIZENS WHO “HOARD” GOLD.  Much of these type of statements appear in the literature circulated by several propaganda outfits who represent themselves as working for a return to the gold standard and to restore the rights of citizens to convert their currency into gold, at the present $35 price.”

Sears continued to attribute the anti-gold movement to Communism.  The League of Just Men, based in London, was a bunch of capitalists with whom Marx and others were associated.  Nathan Rothschild was central to the situation www.silverbearcafe.com/private/NWO/nwo6.html

“Apparently the two principal groups of these people are The Economists National Committee on Monetary Policy and the Gold Standard League, but we have learned that MANY HIGH SOUNDING NAMES HAVE BEEN USED TO MASK VERY LOW OBJECTIVES.  The economists committee lists a number of names of members largely those of professors, economists and others who approach subjects on a basis of theory and in many instances refuse to admit that the facts of life have a way of refusing to follow their theories.  Their spokesman is Dr. Walter E. Spahr who argues that a standard can only be maintained through a fixed price of gold, that it cannot be changed and must continue indefinitely.  His arguments are not only unconvincing but they are also self-defeating.  IF GOLD IS ALWAYS TO BE VALUED ON A THEORETICAL PRICE ASSOCIATION WITH DOLLARS AND DOLLARS CONTINUE TO LOSE THEIR PURCHASING POWER, WHICH IS THE ONLY VALUE THEY HAVE, IT IS CERTAINLY CLEAR THAT GOLD AND ITS VALUE WILL BE DRAGGED DOWN BY DOLLARS.  WHEN THE VALUE OF A DOLLAR REACHES THE PURCHASING POWER OF 1 CENT OR OF ZERO, THAT WOULD LIKEWISE BE THE VALUE OF GOLD, IF WE FOLLOW DR. SPAHR AND HIS THEORY TO THE BITTER END.”

“For years he has been complaining of the loss of value, or purchasing power of dollars, having quoted them at various points on their downward path to lows of about 30 cents to 35 cents.  On these calculations I agree with him, he is more nearly correct than either the President or the Secretary of the Treasury, both of whom have repeatedly referred to our 50 cent dollar.  However, there is no need here in determining the exact ratio or percentage of loss through the devaluation of our dollar which has been the result of the conspiracy.  IF GOLD IS TO BE FOREVER TIED AT A FIXED RATE TO THE PLUNGING DOLLAR, THEY WOULD BOTH LOSE THEIR VALUES TOGETHER.  THERE WOULD THUS BE NO POINT IN CONVERTIBILITY.”

The July 18, 1946 Commercial & Financial Chronicle featured Walter Spahr on page 348 of the Economists National Committee on Monetary Policy, as spokesman for 65 other economists who attacked the proposed fixing of the silver price at 90.3 cents as a matter that “stands in the way of public welfare.”  If silver miners can get a bare bones living for supplying a vital commodity, their price harms the public good?  Which public was referred to, not the general public, but the financial backers of the many universities who sponsored those economists, some of them silver users!  Spahr was chairman of the department of economics at New York University---getting close to Kodak and New York Fed Bank---again.  He authored some interesting sounding books entitled, “The Fallacies of the Commodity Dollar Scheme” (1937); “An Appraisal of the Monetary Policies of Our Federal Government” (1939); “What Can Be Done by Our Government to Avoid Inflation Losses” (1941); “This Thing Called Inflation” (1941); “The Silver Scandal” (1942); and “Postwar International Monetary Standards” (1944)---a silver bear sympathetic to the users and leader of 66 economists hostile to a price for silver decent for the miners, and against silver as money.  Is it surprising that an anti-silver economist was also against gold?  Only to an uneducated gold buff.  Writing in the Mining Congress Journal, March 1949, page 70, Donald H. McLaughlin, president of Homestake Mining Company stated---

“I trust that my associates in the mining profession will think twice before giving any support to the Economists National Committee on Monetary Policy of which Professor Spahr is the principal spokesman. 

Resuming with the speech by Harry Sears---

“Through their activities these people have evidently influenced the introduction of several bills in Congress for a return to the gold standard and for conversion of dollars to gold at the $35 ratio.  I have discussed these bills with the various Congressmen who have introduced them but find that they have no factual or practical knowledge of the subject on which they are seeking legislation.  The main argument of the Congressmen and the spokesman for the economists committee is that there is plenty of gold.  There is definite proof to the contrary.”

“Conversion To Gold At $35 Impossible---A letter dated May 4, 1949, signed by William McChesney Martin Jr., Secretary of the Treasury, was filed in the records of a Congressional hearing where Dr. Spahr and some of his committee members had testified in favor of their $35 conversion plan.  This letter puts the official seal of doom on such theories of convertibility.  We quote a paragraph--- (start page 403)“Even our $24 billion of gold holdings would be completely inadequate to meet a serious run on gold from the $27 billion of United States currency in circulation, over $240 billion of bank deposits, and scores of billions of dollars of Government securities, not to mention other relatively liquid assets.  Conversion of around 5 or 6 percent of these Government and bank obligations would be enough to bring the Federal Reserve Banks below their legal minimum gold reserve.”  That letter was written nearly 5 years ago when gold stocks of the United States were far larger than they are today, when the present gigantic mortgage of foreign dollar holdings was not overhanging them as it is today, and when the potential domestic demand for gold was many billions of dollars less than it is today.”

“Thirty Five Dollar Gold Cult In Action---Nevertheless we find these people who seem to comprise a $35 gold cult still spreading their false propaganda that there is plenty of gold, STILL FIGHTING FANATICALLY AGAINST ANY INCREASE IN THE GOLD PRICE, to compensate for the admitted dollar depreciation, and thus to increase the gold stock against conversion demands.  We also find them viciously attacking gold producers and mine owners, the few survivors out of an industry which has been more than 90 percent destroyed, with dishonest and contemptible misrepresentations and slanderous criticism, when producers out of their expert knowledge try to present the facts concerning gold, to Government departments or to the general public.”

“The so-called gold standard which the Economists Committee and its junior department, the Gold Standard League advocate is nothing but an extension of the present disastrous Treasury gold sales policy, to domestic as well as foreign purchasers.  The only beneficiaries would be those few who were in the front of the line when the Treasury doors were opened.  What they are really proposing is merely a dollar standard, a standard price.  Adoption of their formula would bring swift financial ruin to the United States, even if there was a gold supply.  The historic function of gold is that of a refuge in times of stress.  When currency and other values crash gold is the one substance known to man which is universally acceptable.  It can likewise be a refuge, in the hands of citizens, to rebuke excesses of a profligate government.”

Harry, Harry!  Just because you were a gold producer you forgot about silver---used by many more people historically than gold.  In concluding Butler’s view that silver is scarcer above ground than gold is accurate, we may witness a shocking phenomenon appear---that of silver standing in relation to gold, value wise, as platinum does today.  Before anyone hollers that platinum is many times scarcer than silver, keep in mind that silver is many times more in demand---balance.

“But if gold is to serve humanity as a refuge, it must be free.  Its price must be determined as the choice of the people, not by the edict of dictatorships, or political expediency, OR BY THEORIES OF ECONOMISTS.  When it is tied by law to a certain number of dollars its function is destroyed.  It becomes the casualty of a managed currency.  This is such a simple and elemental principle that those who ignore it, whether in or out of the government, now become suspect.”

“Results From Treasury’s Gold Monopoly---Let us face some facts, developed and laid on the board of realities, as an engineer must view his problems.  For 20 years our taxpayers have been deceived and imposed on by Government departments and banking and investment advisory staffs who have told them that their dollars were safe because of the national gold stocks.  The extent and availability of national gold stocks have been unfairly reported to us and circulations of existing obligations against them have been suppressed.”

Just as with the accounting methods of central banks on gold reserves today---intentional falsification!  They all hired the accountants who, when asked the question, “how much is two plus two” answered “how much do you want it to be?” 

“The September 14, 1953 issue of Barron’s carried a courageous leading editorial from which I quote---“Far from being a citadel of impregnable liquidity, the United States is in the position of a banker who is nearing the end of his free and useable reserves.  It is past time, we think, that this major economic truth be recognized.  The United States gold stock has been reduced to about $22 billion.  This appears more than ample until one looks at the liabilities against it.  It now takes some $12 billion in gold to serve as a minimum legal cover for Federal Reserve notes and Federal Reserve deposits.  Foreign balances here---say $7 billion worth---could be translated into gold on demand.  Hence the bulk of United States gold is definitely mortgaged and the free supply amounts to perhaps no more than $3 billion.”

“Those calculations were made on the basis of Federal Reserve figures for 1952.  A year later and as a result of expansion in money supply the legal coverage in gold would have to be enlarged and from information given to me in one of the Federal Reserve banks about 2 weeks ago the foreign balances which could be translated into gold on demand have increased to about $12.5 billion, which would indicate that the legal coverage on notes and deposits plus the foreign demand for gold could not both be met.  Instead of a free supply of gold there appears to be a shortage of some $2 billion.”

“Government and other propagandists repeatedly represent the Treasury as being the largest purchaser of gold in the world but a recent dispatch from Washington revealed that during 1953 it sold more than $1 billion of gold and purchased none.  The monthly letter of the National City Bank of New York is widely circulated and quoted and the public has been led to believe that it is reliable.  In the issue for October 1953 the following appears---“Gold and dollar resources of nations abroad, recently accumulating at a rate exceeding $2 billion a year, now equal the United States gold stock of $22 billion.”

“Nothing is said as to the mortgage potentiality of the foreign balances which are the practical equivalents of outstanding checks against the Treasury gold account.  It would seem that the same degree of integrity in preparing statements intended to influence credit or investment should be required of a bank, as of any other business.”

This was the forerunner of Citigroup, where the anti-gold activist Robert Rubin came to roost.  Rubin probably doesn’t have such a glib smile as before, when the gold price was stuffed into a $252 hole.  Financial transparency and accountability?  Not in these United States!  Just consider how the Commodity Futures Trading Commission knows who the big silver shorts are, but isn’t required to disclose it.  Secrecy is necessary to corruption!

“It would also seem that if foreign balances were settled the gold position abroad would be about $34 billion and that of the Treasury would be less than $10 billion.  When Roosevelt abandoned the gold standard in 1933 for the stated reason that we were short of gold, we had about $7 billion (if we translate the number of ounces held then into the $35 price of today.)  We are dangerously close to being right back at the starting point.  Practically all of our vast additional gold stocks have been wasted.”

“THE WORLD IS DESPERATELY SHORT OF GOLD AND WILL REMAIN SO FOR YEARS TO COME.  Production of new gold supplies cannot keep pace with oncoming demands from increases of populations and improved living conditions and credit demands from formerly backward nations.  Other nations already have higher gold prices than ours, in terms of their own devalued currencies.  We too have devalued our dollars, a fact freely admitted during the past year by the President and the Secretary of the Treasury, and many other administration spokesmen who (start page 404) speak of the worth of the dollar, or its value, or its purchasing power.  But in the past twenty years the Treasury has chosen to dissipate its gold stock TO MAINTAIN A FICTITIOUS AND FALSE VALUE FOR DOLLARS which it is now admitted they do not possess.”

“There is no way of quickly expanding gold reserves except through a substantial increase in its price.  Although gold producers, as an industry, in the United States have been more than 90 percent destroyed we still have the gold in the ground.  Given the necessary incentive of an honest gold price reflecting its scarcity and value, capital would flow toward gold production, mines could be reopened and expanded into large modern enterprises, thus furnishing the backbone for future safety for all our citizens through a sound American monetary program, BUILT BACK BY A CONGRESS WHICH ONCE AGAIN ASSERTS ITS DUTY TO CONTROL MONEY.”

“We have considered the group of gold standard bills in Congress and the absurdity of their aspirations to convert dollars into gold on demand, at the present ratio of $35, is made clearly by the facts we have just set forth.  But there is another gold standard bill, and though at first glance it would appear as just one more of the impractical dreams promoted by economists, there is an important difference.  This was introduced at the close of the last session by Senator Styles Bridges, with a companion bill in the House by Congressman Rees.  Senator Bridges made a statement from the Senate floor, which I quote---“At this time foreign interests have the right to convert their dollars into gold, and I feel very strongly that the American people should have the same opportunity and right.  Although it is impractical to take this step at this time, it is not only practical but our moral duty to make a beginning.  We can start the study and plan the hearings that must precede the actual fulfillment.” 

“Then speaking of national policy for the past years, Senator Bridges said---“As we know, one result of this policy is that the United States dollar is now worth 50 cents, compared with its 1935-1939 value.  The cause has been attributed to high prices.  High prices have been attributed to high wages.  High wages have been attributed to high cost of living.  But the high cost of living consists of high prices; so we wind up exactly where we started without getting nearer to the truth.  The answer lies in the question, what is a price?  A price is the amount a customer is willing to give up for something.  Money and taxes, when discussed at stratospheric levels, can be beyond the comprehension of almost everyone but a handful of specialists; but when discussed at a practical level, any high school student can understand the basic principles.  I am convinced that public interest in these matters can be crystallized around the issue of gold and sound money.”

“Senator Bridges thus sets his bill apart from the pattern followed by others.  He proposes that it shall present in its hearings, the opportunity for study, to determine the facts, and he recognizes that a question of price can only be determined in connection with the purchasing power or value of dollars.  This reflects a refreshing approach to the subject through hope for some monetary statesmanship.  When the results of such a study are applied to the price of gold we should have a better future ahead for all of our people.  During forthcoming hearings for these bills there is opportunity for Congress to expose the un-American principles of money managers, TO CUT LOOSE FROM THE MUMBO JUMBO OF ECONOMISTS AND PROFESSORS, to develop the actual facts regarding gold and its present and future availability, and to explore for and root out those of the Harry Dexter White clique, and way of thinking, who are still in positions of power and influence.”

“While these matters are being developed, it would be helpful if the following suggestions placed into form of bills could be speedily enacted.  First---A bill pledging the intention of the United States to return to the minting and use of gold coins or tokens of value and to make these convertible for United States currency.  That the time for such conversion shall be when Congress shall determine that the Treasury has sufficient gold reserves.  Second---A BILL REASSERTING THE RIGHTS OF ALL CITIZENS OF THE UNITED STATES TO BUY, SELL AND POSSESS GOLD, IN ANY FORM AND ANY QUANTITY, BASING THIS ON THEIR INALIENABLE CONSTITUTIONAL PROPERTY RIGHTS.  Third---A BILL PROHIBITING THE TREASURY FROM SELLING GOLD TO INDUSTRY AND THE ARTS AND PROHIBITING THEM FROM SELLING ANY TREASURY GOLD STOCK OR HOLDING THEY MAY CONTROL, IN ANY MARKET, FOR THE PURPOSE OF DEPRESSING SUCH MARKET AND THEREBY LESSENING THE VALUE OF GOLD.” 

That concludes the remarks made by Harry Sears at the Western Mining Conference in Denver on January 29, 1954.  His deficiency was to not perceive the financier network that was the real power behind the gold suppression, and to conclude that Communists were ultimately responsible.  Sears recognized the harm done by Franklin Roosevelt against gold.  Roosevelt’s background yields significant facts.  FDR’s father James Roosevelt (1828-1900) paid another man to take his place in the Union Army during the Civil War.  James Roosevelt married Sara Delano, daughter of Warren Delano, a supporter of the second Bank of the United States.  The British granted Delano a concession in the Chinese opium trade, smaller than that of John Jacob Astor, leading British collaborator in America till his death in 1848.  Theodore Roosevelt, another family member, became President, 1901-1909 upon the assassination of President McKinley.  Theodore Roosevelt was also hostile towards silver.  His father looked like a hostile menace---

 Like father, like son, a bully---

Kermit Roosevelt, Theodore’s son born in 1889, became a captain in the BRITISH army in July 1917 (Who’s Who, 1931, page 1904).

McKinley and Theodore Roosevelt defeated William Jennings Bryan, leading silver advocate around the turn of the century, with lots of banker assistance.  Interestingly, page 1618 of the 1914 Who’s Who, in the feature for John George Milburn, an English born attorney with offices at 54 Wall Street, said---

“President McKinley was taken to his house after fatal assault and died there.”

That was on September 6, 1901.  The Who’s Who listing was silent as to Milburn’s membership in The Pilgrims.  That detail appears on page 183 of the 2002 book “The Pilgrims of Great Britain,” which by intent did not dare list identities of the CURRENT membership.  From 1907-1910 FDR himself was a law partner with Carter, Ledyard & Milburn.  FDR’s son FDR Jr. married Ethel Du Pont of the Pilgrims dynastic family and the Silver Users Association.  Their son was named Christopher Du Pont Roosevelt.  It makes you think of all the Roosevelt dimes dated 1946-1964 that were melted for the Silver Users Association.  Another FDR son, Elliott, married Patricia Peabody Whitehead (more dynastic old East coast wealth).  Their only child was named Livingston Delano Roosevelt, after 19^th century opium trader Warren Delano and the Livingston family whose Crown links date back centuries, and whose genealogy appears mixed with various prominent Pilgrims Society families.  On July 1, 1970, FDR Jr. remarried.  The bride was Felicia Warburg Sarnoff, of the Warburg family of Pilgrims Society members who did so much to inflict the Federal Reserve on us, and the Sarnoff family of Pilgrims members who ran Radio Corporation of America.  Frederic Adrian Delano (Who’s Who, 1949, page 621) was born September 10, 1863 at Hong Kong, son of Warren Delano.  Frederic became a member of the Federal Reserve Board, 1914-1918.  He was chairman of the League of Nations commission “on inquiry into the production of opium in Persia.”  That’s so funny---the offspring of an opium dealer chairs a commission investigating the ongoing situation!  It also shows the ongoing relationship of central banking in the United States to the world narcotics traffic, which the Feds, on an official basis, are trying to suppress (I don’t believe it!)

Another FDR son, John A. Roosevelt, was with Bache & Company on Wall Street, 1960 through 1980, who helped sink the Hunt brothers silver play!  John was another member of The Pilgrims and a trustee of Eisenhower Exchange Fellowship Foundation.  Elliott Roosevelt, another FDR son, ran a dozen radio broadcasting stations across Texas, from 1938 into the WWII period and was a member of the Order of the British Empire.  Elliott became president of Dalco Uranium in 1957 and served as mayor of Miami Beach, Florida, 1965-1969.  Mary Rebecca Aspinwall (1809-1886) was FDR’s grandmother and she in turn was a sixth generation descendant of Rebecca Stoughton, sister of William Stoughton, who was judge and prosecutor at the infamous Salem Witch Trials.  How dangerous to combine the role of prosecutor and judge---like giving the Federal Reserve power to “create” money.  James Roosevelt, an FDR son born in 1907, was a member from California of the 84^th through the 89^th Congresses, where he campaigned against silver as coinage.  The Roosevelts rate as the most politically dangerous family in U.S. history, however there is still time for the Bush tribe to surpass them.  If Iran is attacked, consider the Roosevelts outdone. 

Julian Kean Roosevelt, Pilgrims Society member, was number two man at Grace & Company, investment bankers at 100 Gold Street, New York (mid-1970’s) where number one exec was Pilgrims member Oliver Russell Grace.  The 1976 Who’s Who, page 2678, had Julian as treasurer of the U.S. Olympic Committee and a trustee of the American Historical Association.  There is no need to guess as to the importance of that detail, as paper money mob interests have long been interested in depicting history as different that what took place.  This they do by omitting key details and twisting those they do present.  Books written by members of the AHA hide numerous important facts of financial history, not the least of which is the fact that the second Bank of the United States refused to cooperate with a Congressional committee that attempted to investigate its shady dealings!  They just say something like “the bank was an excellent innovation that President Jackson could not understand” and expect the gullible to believe their lies.  Julian was a member of 16 yacht clubs around the world---from the USA to India to Japan to Norway and Sweden.  Julian was a Republican, showing that as Pilgrims members do, they are interested in controlling the nominating process of both parties, leaving the average citizen without any real choice!  One of his sons, George Emlen Roosevelt III, is named for ancestors who were directors of Chemical National Bank---strongly linked to the Du Ponts (Pilgrims).

As with subverting history, attempts to subvert patriotism itself never stop.  Subtler than the “War on Terror” and “Homeland Security” matters is the fact that New York real estate developer John Badman III (no typo) has chaired the Conference of Patriotic and Historical Societies since 1993.  Badman is another member of The Pilgrims (Who’s Who, 2005, page 184).  He is a member of the Baronial Order of the Magna Charta, representing the interests of feudalistic dynastic families of the British Empire.  John B. Trevor, a Du Pont relative, Pilgrims member, became chairman of the American Coalition of Patriotic Societies in 1927 (1933 Who’s Who, page 2303).  You see, it isn’t just the Crown leading the paper money mob---it’s the nobles, aristocrats, and American collaborators also---not the Communists!  Russia has of late exhibited far more interest than either Britain or America in building its gold reserves!  I hope to be first in line to cheer as The Pilgrims lose their powers as money creators via central banking monopolies. 

Sears made reference to William McChesney Martin Jr.  Martin chaired the Federal Reserve System from 1951-1970---the longest term ever held by any Fed chairman.  Martin was in fact, not a supporter of gold convertibility on the part of Americans.  Silver was routinely sold through Federal Reserve branch banks to members of the Silver Users Association at give-away prices during his lengthy tenure.  When the new clad coins were introduced, Martin presided over actions at the 12 regional Federal Reserve branch banks by which employees literally sifted through countless tons of circulating coins.  They sorted out the 90% silver coins and sent them to the Treasury for melting, after which the resulting bullion was “auctioned” to Silver Users Association companies, at prices below average cost of production at primary silver mines.  The extensive details, as documented by the Wall Street Journal, appear in “The Silver Raiders” here in the Archives of Silver Investor website. Martin did his part in the war on silver as money as described by Business Week, March 23, 1963, page 148---

“The monetary authorities want to get rid of the silver certificates and replace them with Federal Reserve notes.  This would tidy up the situation by making the Fed the sole issuer of paper money.”

Martin’s name appeared in the 1969 list of The Pilgrims New York.  His father was a banker in St. Louis who helped draft the Federal Reserve Act.  The Federal Reserve Bank of St. Louis, 1928-1929, employed Martin Jr.  He was with A.G. Edwards, investment bankers, 1929-1938.  By age 28 he was elected a governor of the New York Stock Exchange (1935).  He assisted in the reorganization of the exchange, 1937-1938, and became its youngest president, 1938-1941.  Martin finished World War II as a Colonel.  He became chairman of the Export-Import Bank, 1946-1948.  He became United States director of the World Bank beginning in 1949.  His most important post was as Federal Reserve Chairman, 1951-1970.  In 1971 he again became chairman of a committee to reorganize the New York Stock Exchange.  President of the exchange from 1951-1967 was Pilgrims member George Keith Funston, who made the cover of Time magazine on November 21, 1955 www.time.com/time/covers/0,16641,1101551121,00.html quite naturally the magazine had nothing to say on his Pilgrims activities---

 Funston’s son George is now a trustee of the Earthwatch Institute www.earthwatch.org/site/pp.asp?c=dsJSK6PFJnH&b=386479   After leaving the Fed, Martin was catapulted onto such high flying boards as Royal Dutch Petroleum; Freeport Minerals; Scandinavian Securities; American Express; Caterpillar Tractor; Eli Lilly; Dow Jones & Company; General Foods; IBM; Riggs National Bank; U.S. Steel and others.  He was a trustee of the Foreign Service Educational Foundation; Johns Hopkins University; and Yale.  He was also on the President’s Soviet Protocol Committee.  Harry Sears might have looked at that and said he could be a Communist.  He was more dangerous than that---a member of the paper money mob, who are today losing their war against precious metals prices.  Are we about to start a major war in Iran so these elitists can declare a national emergency here, and plunge us into martial law and dictatorship?  Will gold and silver ownership bring on a Federal Death Penalty because the paper money mob fears return to Constitutional money?  Will Homeland Security deliver a “report” to Treasury and the SEC saying, it found some Iranians owning gold and silver shares and conclude therefore, trading in these shares should be frozen?  Actions against us by the government are taken by members of elitist organizations who staff Federal positions in order to break us financially.  The Crown and its alliances must control all wealth.  I hear good commentary on Russo’s film “America From Freedom to Fascism,” could this be the weapon to restore a Jacksonian Republic?

Yale University Press published a book in 2004 titled, “Chairman of the Fed---William McChesney Martin Jr. & the Creation of the Modern American Financial System.”

Martin was succeeded by Pilgrims member Arthur Frank Burns at the helm of the Fed---

Burns received the Alexander Hamilton award from Columbia University in 1969 and the Alexander Hamilton award from the Treasury Department in 1977---reflective of Hamilton’s status in the 1790s as a leader of the fiat movement.  Burns chaired the National Bureau for Economic Research, of which Martin Feldstein later became a trustee.  Feldstein was a director of former big silver short American International Group.

This article on gold manipulation during Harry Sears time concerned a situation that was to continue in other phases.  Beginning in 1961 and running into 1968, the so-called “London Gold Pool” was formed to help cap the gold price at the $35 level.  The usual rat pack of international financiers was involved---Douglas Dillon and his undersecretary, Robert Vincent Roosa; William McChesney Martin Jr.; David Rockefeller; Mellon-Rockefeller agent George D. Woods of the World Bank; and their British counterparts such as The Earl of Cromer, governor of the Bank of England and director of the International Monetary Fund---whose family worked with the first and second Banks of the United States (Viscount Harcourt was his predecessor); Sir Maurice Parsons, deputy governor of the BOE; Gordon Richardson of the BOE, Lloyd’s Bank and Schroders Ltd.; Edmund L. De Rothschild of N.M. Rothschild; Sir Anthony Tuke, chairman of Barclay’s Bank (and later RTZ Mining); Lord Carrington, of Barclays, who later became president of The Pilgrims and chairman of Bilderberg---and others, virtually to the last player, all were members of The Pilgrims Society with its motto “Here And Everywhere.”  There is a good capsule article on the London Gold Pool at www.gold-eagle.com/editorials_01/judge052101.html According to the article--

“Fed chairman William McChesney-Martin announced the US would defend the $35 per oz gold price "down to the last ingot.”

The source documenting this comment was not provided.  However it is certain to be findable in the Washington Post, Wall Street Journal or the New York Times.  It tells us something of precious metals leasing, but I believe, more so of silver than of gold.  The silver price has been a bit like the sands of an hourglass flowing to the bottom of the glass through the narrow spout.  Since leasing takes place away from the light of day, this “hourglass” is something we cannot see any portion of---except the narrow juncture where the sands drain.  As long as there is silver to lease, the price is controlled.  But there hasn’t been enough silver for some months now to hold prices down for long, so we have seen a gradual but eyebrow-raising price increase from early 2001 until now.  Before long, no significant silver remains above ground except that controlled by Indians who save in silver, and others whose thinking is similar.  As for copper---will it become the third monetary metal?

Years before Martin’s weirdly criminal statement as to intentions to continue capping the gold price, there was abundant evidence that a free market price for gold trading would have yielded gold miners far better returns than the managed price.  Harry P. Cain, Senator from Washington state, writing in the Mining Congress Journal, October 1950, page 24, stated---

“The measure of unjust discrimination to which the gold miner is exposed is illustrated by a special dispatch to the New York Times under the date of July 31, 1950.  This story came from Tel Aviv in Israel.  It reported a strong gold market with British sovereigns in active demand at $25 a piece.  Since the sovereign contains less than a quarter of an ounce of gold THIS SHOWS A GOLD PRICE OF MORE THAN $100 AN OUNCE.”

How many billions in income was lost to gold miners and shareholders due to the sickening price capping of gold inflicted by the paper money mob, would be a topic for a whole other essay.  The capping of precious metals valuations is also about wealth transfer; that is, to prevent the transfer of wealth to metals producers and metals owners, because the Secret Society exists to prevent all outside its ranks from getting ahead.  Alfred Hayes, president of the Federal Reserve Bank of New York, addressing the Economic Club of New York on April 22, 1963, defended the $35 cap on the price of gold---another member of The Pilgrims paper money mob (Who’s Who, 1971, page 986).  That the monetary conspiracy against silver and gold as money comes from Britain and her American allies, there can be no doubt.  As another of numerous examples, the New York Times, May 11, 1931, page 28 carried a story titled, “Silver’s Future Doubted” subtitled “British Expert Expects Its Total Abandonment as Standard of Value.  The “expert” was A.F. Algie, addressing the Royal Central Asian Society, founded in 1901---the same year The Pilgrims of Great Britain was formally organized.  A hereditary aristocrat closely associated with the Crown, the Earl of Selkirk (Pilgrims of Great Britain) was president of the Royal Central Asian Society as of 1969.  Today the group’s name is the Royal Society for Asian Affairs www.rsaa.org.uk/ whose president is The Duke of York---Pilgrims of Great Britain---the fiat paper money mob.

Lewis W. Douglas, ambassador to Great Britain, 1947-1950 became a longtime director of Newmont Mining.  This shows the problem again.  The Pilgrims of Great Britain, 2002, page 138, shows Douglas laughing with the Earl of Halifax, who assassinated silver all over the world in 1926.  Page 130 shows Douglas with Sir John Anderson, former Chancellor of the Exchequer.  The Crown and its secret society of financiers opposes gold and silver as money, because they cannot create them; because they are honest money, and because they are highly dishonest people bent on wrecking and controlling the rest of us.  Douglas daughter Sharman married Andrew M. Hay of The Pilgrims of Great Britain.  In an article with a laughable title, “The Case for Monetary Reform” that appeared in the Mining Congress Journal, December 1965, Pilgrims member Douglas said (pages 52 and 54)---

“There seems to be and probably ought to be, resistance on well-taken grounds to a sufficiently substantial increase in the price of gold.  (page 52)  No one, certainly not I, would denigrate the role which the IMF has played.”

Does it not appear inappropriate that someone who thinks a cap should be on the gold price should be on the board of directors of a gold producer?  Douglas was also a director of International Nickel Company (INCO) and was a member of the Order of the British Empire.  Shareholder vigilance is seriously called for in the case of larger precious metals mining concerns.  Consider this from the Mining Congress Journal, June 1949, page 84---

“Fred Searls Jr., president, Newmont Mining Co., gave his opinion that a free market in the United States would not greatly increase the price of gold and that the prediction of price increase is greatly over estimated.”

What type of gold executive makes such statements?  One who is in the hip pocket of the fiat money forces!  Shareholders, I suggest you inquire of Newmont’s senior management and directors---which organizations are they members of?  Are they members of any organizations not listed in any published reference source?

  Looking back across the years into the 1920’s and 30s, we find another member of The Pilgrims, Albert Henry Wiggin, head of Chase National Bank, on the Newmont Mining board (and over 50 other boards, Who’s Who, page 2217, 1928)---

If the top executives of any of the gold and silver mining companies return from a flight to London with the title “Sir,” or have become members of the Order of the British Empire (publicly available information), it’s time to dump your shares in such a company and get out---fast.

Life Magazine, July 6, 1962 (pages 30-34), published a letter from David Rockefeller to President Kennedy, along with Kennedy’s reply.  Rockefeller mentioned undersecretary of the Treasury Robert Roosa (British Empire Rhodes Scholar, later to become Rockefeller Foundation trustee and Texaco director); in “The Silver Raiders” (see Archives) I documented Roosa’s bias in favor of low silver prices and support for the Silver Users Association.  Anti-silver activist, Pilgrims member Roosa was a director of their public front group, the Council on Foreign Relations---

 Notice something David Rockefeller referred to in his letter to President Kennedy---

“…the cooperative effort to dampen down the gold market, and the strengthening of the International Monetary Fund.  All these are worthwhile efforts.”

Observe Rocky’s reference to the “cooperative” effort to hold gold prices low!  There were many high level personalities involved.  Gold prices were not being determined by the interplay of free market forces, but by paper money gangsters and their crooked political appointees!  Rockefeller himself, viewed by many as “the single most powerful man in the world” (biographer William Hoffman, 1973) called on Congress to grant the Soviet Union “most favored nation” trading status (United Press International, July 17, 1973).  So it is the financiers with their fiat money who oppose precious metals, and not so much the Communists---just another totalitarian movement they have sponsored.  Rockefeller has served as a director of the Federal Reserve Bank of New York.

Kennedy’s reply to David Rockefeller contained the following statements---

“Many thanks for your very thoughtful and constructive letter.  This country will not---I repeat, not---increase the price of gold.  There are other points in your letter deserving of comment, which I look forward to discussing with you at an early opportunity.  I am grateful that we agree so widely on basic problems and goals.”

It could be that the two did not agree on goals as much as it appeared at that moment.  What nearly happened to Andrew Jackson in 1835 did actually happen to Kennedy in 1963.  After gold prices, driven by fundamentals, broke through the $35 barrier by 1968, the paper money mob was not finished.  According to www.kitco.com/ind/Downs/aug042004.html---

“In the mid 1970s, William Simon, Secretary of the Treasury, devised a program of US Treasury gold auctions, which coincided with slightly later IMF gold sales. Inflation had begun to pick up, the free-market gold price was rising, and the authorities wanted to squelch interest in gold. Official gold sales drove the free-market gold price from $200 an ounce in 1975 to $103.50 in August of 1976. Bankers and economists were so convinced gold was finished that Walter Wriston, head of Citibank and anti-gold, forecasted publicly that the free-market gold price would be driven back to $35 an ounce or lower. Gold bugs at the time joked that they had been “Simonized.”

Wriston, then chairman of the forerunner of today’s Citigroup, was a second-generation member of The Pilgrims.  The Washington Post, January 21, 2005, section 2, page 6, called Wriston “probably the most influential U.S. banker of his day.”  William E. Simon, another member of The Pilgrims (see his extraordinarily long list of personal details in Who’s Who, 1980, pages 3045-3046) was a COMEX governor in January 1980 when that body assassinated the silver price with its infamous rule change, or activation of a clause already in fine print, that destroyed the Hunt brothers and Arab silver play!  The Graduate School of Management at the University of Rochester, New York, was renamed the William E. Simon Graduate School of Business Administration in 1986---that’s located in (Silver Users Association member) Eastman Kodak’s home town, by the way!  Simon was also a director of Citibank and Halliburton.  Simon, looking like he had eyes the size of boiled eggs, posed before a statue of British collaborator Alexander Hamilton while Treasury Secretary---

According to the Australian League of Rights at www.alor.org/Volume11/Vol11No34.htm ---

“The world's Money Rulers are trying to phase out gold as the basis of monetary reserves. We believe that the most powerful group of International Finance operators is aiming to have International Monetary Fund Special Drawing Rights (S.D.R.s) accepted as the World Reserve Currency. This does not please such people as the French monetary authorities who are sitting on large gold reserves. The International Monetary Fund has very recently been "dumping" gold in the world's bullion markets. The United States' Secretary of the Treasury, Mr. William Simon, intends that the role of gold will be phased out of international monetary dealings. MR. SIMON REPRESENTS THE MOST POWERFUL GROUP OF INTERNATIONAL FINANCE OPERATORS.”

Among William Simon’s numerous Pilgrims Society activities was as a governor of the International Monetary Fund; Asian Development Bank; Inter-American Development Bank; and the World Bank.  Simon was also a member of the National Commission on Supplies and Shortages and the Emergency Loan Guarantee Board.  Those items suggest---blame silver longs for the shortage and step in and guarantee the investments of the big COMEX silver shorts 

Simon addressed the 1975 International Monetary Conference in Amsterdam, presided over by Gabriel Hauge of Manufacturers Hanover Trust, another Pilgrims member then on the Bilderberg steering committee, director of the Council on Foreign Relations and trustee of the anti-silver National Bureau of Economic Research--