I am engaging in here is in some degree conjecture and I hope I’m
wrong about what I’ll say---those who know aren’t likely to tell.
If I were a physician I wouldn’t tell someone they had an
oversized wart if I knew it to be a tumor.
I believe we are confronted with some “tumors” which could
be problematic to our realizing silver gains.
Having said this, I also wish to add, in spite of being painfully
aware of predatory interests on the dark side still intending to
foul the waters, I believe we will see things happen our way after
a struggle. The political
power of silver companies compared to two organizations of which
I will speak is next to zero. What
will save us is growing awareness that price capping causes shortages,
and truly free markets resolve shortages by balancing supply with
demand. In the entire universe the only reliable way
to stimulate supply is to let prices rise!
I believe we need to know about some of the personalities
and entities---let’s call them the Silver Devils--- that may have
been involved in holding down silver prices.
I say may have been involved, because sufficient transparency
to be certain is not available, at least at this time
I wish to make it clear that I am not necessarily
accusing anyone other than what we obviously know, like the bullion
banks and the Silver Users Association.
I am looking at some pictures superimposed one over another
and engaging in speculation. We
all more or less realize that where world events are concerned,
there are two versions. One, the version fed to us by news media; and
the other, often unknown version, is that
which actually took place. Part
of this is about understanding how silver prices could be held at
gutter levels when we are so close to the end of what has been viewed
as conventional supply---leasing.
Most of you are aware of the facts concerning the bankruptcy
of Sunshine Mining. What they needed to stay afloat was the transfusion
or the oxygen mask of higher silver prices. The shorts and users killed Sunshine, and opportunistic
companies have absorbed choice assets of the company at distressed
prices. There is a line from
“The Evil That Men Do” (1985), which speaks for the shortside attitude
about Sunshine Mining---
was a nuisance and I’m glad he’s dead. I only wish he’d suffered a little longer!”
WEB OF INFLUENCE
begin by speaking of
However, let’s entertain the assumption that
Chinese silver has actually been dumped.
But we must not also assume that
OPENING UP CHINA TO DEVELOPMENT
me to make a startling assertion---that Communism as it has been
known in the former
is Rockefeller who has led the pack in this development, and also
that of the former
“The power he wields crosses all borders, can make or destroy governments, start or stop wars, profoundly influence everyone’s life.”
AN ASSAULT ON THE KING’S MEN
the same as an assault on the King himself---so spoke the brutal
English commander at a Scottish outpost in “Braveheart” (1995) just
before he viciously slit the young woman’s throat.
Mutating that line a bit, we get, “a director of a Silver
Users Association company is the same as a director of the Silver
Users Association itself.” I
find it interesting that Kodak shares a director with Halliburton
(Delano Lewis), V.P. Dick Cheney’s company, which is frequently
accused of being part of the warmongering against
Du Pont Chairman Charles Holliday was appointed
by Bush in fall 2002 to the National Infrastructure Advisory Council---maybe
they’d suggest silver confiscation at $5/ounce. Holliday is also a director of HCA, Hospital
in order to sustain the Silver Users Association silver should be
confiscated from Americans, and
DOW UNION CARBIDE SILVER USERS
Schapiro, a board member, was a member of the first President Bush’s
Council of Advisors on Science & Technology, 1990-1992---isn’t
it fascinating what strong interlocks we find, like a titanium spider
web encompassing the globe! Since 1996 he’s chaired the National Bioethics
Advisory Commission, which I view as hypocritical in view of the
environmental damage suits against Dow.
Like his counterpart Mr. Vest at Du Pont, Schapiro heads
a major university---
Parker, a Dow director, is also a director of the
Understand, I am not accusing---I am speculating.
I have come to expect the worst from these types, as that’s
what I’ve always seen. Pedro Reinhard links the Dow board to that of
the Royal Bank of
if not all these big corporations have political action committees
like Dow Chemical and Du Pont Good Government Fund.
You can spend all day at congress.org site looking up men
on Capitol Hill who’ve received funds from them, so legislation
to take silver should be as easy for them as taking a sip of coffee.
Missouri Senator John Danforth (Ralston-Purina fortune),
a Dow director, served on Capitol Hill from 1976-1995; silver users
sure have a lot of influence, but they can’t make the shortage go
away nor manage prices much longer.
CHEMICAL & PRESIDENT BUSH
Franklin, a Dow director for over 10 years, was national co-chair
of the George Bush for President Committee.
That suggests to me it would only take a discreet phone call
from her to
A director also of insurance giant
Along with Du Pont director Mr. Brown, Dow director Franklin is a member of the President’s advisory Committee for Trade Policy & Negotiations (4 terms). We won’t take time to consider as much information about the U.S./China Business Council, except to note that among its 300 or so members are names like Ford Motor; General Motors; Motorola; FEDEX; American International Group; Procter & Gamble; Lucent Technologies; Corning International; Intel; Xerox, Dell Computer, Kodak, Dow and Du Pont.
as of summer 2000 of the National U.S./China Business Council is Phil Condit, chairman of Boeing; the
Council reports trade between the two nations now exceeds $120 billion. Wal-Mart is full of Chinese goods, and stories
have circulated about merchandise sold by those cheap $1 stores
from coast to coast, goes to buy military hardware for
Connections to China and Silver
consider two organizations---the National Committee on U.S./China
Relations, of which Ms. Franklin of Dow Chemical is a director,
and the U.S./China Business Council, of which she is also a director.
THE CAN OF RED CHINESE WORMS
Other directors of the National Committee on U.S./China Relations include former President Gerald Ford (1974-1977) who tried to install David’s brother, Nelson Rockefeller, as unelected President (was martial law to follow?)---Ford also met with Chinese Deputy Premier Deng Hsiao-ping as a Rockefeller messenger (New York Times, December 2, 1975, page 21); David Gergen, editor at large, U.S. News & World Report, advisor to President Clinton, 1993-1995, visiting professor at Duke University; William Frenzel (trustee of U.S./Japan foundation with billionaire Robin Chandler Duke); Raymond Shafer, ex-governor of Pennsylvania (Mellons); Robert Orville Anderson, retired chairman of Atlantic Richfield Petroleum, second largest landowner in New Mexico after Ted Turner, trustee of Caltech and University of Chicago; Nicholas Lardy, founder in 1995 of Pacific Council on International Policy, member CFR, recipient of Henry Luce Foundation grants, 1980-1982, member editorial board, Journal of Asian Business, China Economic Review, China Quarterly (London) and Problems of Post Communism, professor of International Trade & Finance, Yale University, author, 1989, “Economic Policy Toward China in the Post Reagan Era” and 1998, “China’s Unfinished Economic Revolution.”
NCUSCR directors are Matt Salmon, Republican Congressman from
more NCUSCR directors are Robert Strange McNamara, president World
Bank, 1968-1981, director, Overseas Development Council, former
director, Ford Motor; Robert Levinson, chairman, Levcor International
(textiles, apparel), primary bank, JPMorganChase; Ezra Vogel, Henry
Ford II professor of social sciences at Harvard, with National Intelligence
Council, 1993-1995, author 2000 “Is Japan Still Number One?”; and
Nancy Kassenbaum Baker, Republican Senator from Kansas, 1979-1996,
chairman, Robert Wood Johnson Foundation (Johnson & Johnson),
wife of Howard Baker, Tennessee Senator from 1967-1985, Presidential
chief of staff, 1987-1988, director Pennzoil, regent, Smithsonian
Institution, on international advisory board to Barrick Gold Corporation!
ADDITIONAL US/CHINA COUNCIL DIRECTORS
befits any powerful lobby group, it should have members who can
pull the right strings. James Sasser was Clinton (British Rhodes Scholar)
ambassador to China, 1996-1999 and was a Senator from Tennessee,
1977-1994, member United Nations Association, with Gore Campaign
2000 (control China policy no matter who becomes President), and
graduate, Vanderbilt University (“after his consummation of the
$44 million theft in 1869 there was little withstanding of Vanderbilt,”
biographer Myers, “by 1883 he was worth fully $194 million.
The impact of his vast fortune was well nigh resistless.
His very name was a terror to those of lesser capital.”)
Reviewing more China Committee directors, we note Barber
Conable, Republican Congressman from New York, 1965-1985, author
“China: The Coming Power” (CFR publication Foreign Affairs, winter
1992-1993), former president, World Bank, regent, Smithsonian Institution
(with Baron Eric De Rothschild); Joseph Prueher, commander in chief,
U.S. Pacific Command, Hawaii, 1996-1999, since 1999, U.S. Ambassador
to People’s Republic of China; Stapleton Roy, deputy director, Office
of Chinese Affairs, State Department, 1975-1978, Ambassador to Singapore,
1984-1986, Ambassador to People’s Republic of China, 1991-1995,
Ambassador to Indonesia, 1995-1999, now with Bureau of Intelligence
& Research, State Department.
the list of NCUSCR directors, we find Susan Roosevelt Weld, great
granddaughter of Theodore Roosevelt, professor at Harvard Law School
wife of William Weld, ex-governor Massachusetts, of the White, Weld
& Company brokerage fortune; Madeleine Zelin, professor of East
Asian Language & Culture, Columbia University, director, East
Asian Institute of Columbia, director, East Asian Natural Resources
Center of Columbia (maybe they know about the silver in Myanmar),
advisor to Journal of Chinese Law; and Michael Armacost, president,
Washington D.C. based Brookings Institution, a major international
think tank, Ambassador to Philippines, 1982-1984, Ambassador to
Japan, 1989-1993. Whew! What
an assemblage of really heavy hitters in government, diplomacy,
business and finance, and all bent on what---developing
DISTURBING MILITARY-INDUSTRIAL LINKS!
another director of the National Committee on U.S./China Relations
is David Jeremiah, a retired Admiral who was called Colin Powell’s
“alter ego” in the 1991 Gulf War. Jeremiah was Commander in Chief of the U.S.
Pacific Fleet from 1987-1991. He
is now president of Technology Strategies & Alliances Corporation
with interests in funding aerospace, defense, telecommunications
and electronics ventures. In
1995 he was a speaker at the Fourth Foresight Conference on Molecular
Well, well! Elements
here want to boost the repressive government of
shares a director with Hercules Incorporated, a $3 billion dollar
chemical firm in
WHAT IS THE MITRE CORPORATION?
another high-powered think-tank headquartered in CIA city,
James Schlesinger chairs Miter. He was a consultant to the Federal Reserve Board
in 1962-1963; senior staff member at Rand Corporation (another high
powered think tank) from 1963-1969; director, Bureau of the Budget,
1969-1971; chairman of the Atomic Energy Commission and CIA director
in 1973; Secretary of Defense, 1973-1975; assistant to the President,
1977; Secretary of Energy, 1977-1979; and member President’s Blue
Ribbon Task Force on Nuclear Weapons Management, 1984-1985.
Currently he’s a senior advisor to Lehman Brothers; a trustee
of the Center for Strategic & International Studies; a member
of the Defense Policy Board of the Department of Defense; advisor
to National Nuclear Security Administration of the Department of
Energy; trustee of the Atlantic Council; publisher of The National
Interest; and director of Seven Seas Petroleum (another failure
like Loral, as this is written 7 Seas has skidded from a year high
of $4.30 to 3 cents); Sandia Corporation; Peabody Energy (world’s
largest coal miner); and BNFL Incorporated.
A heavy hitter indeed is Schlesinger! Sandia (Spanish for watermelon) is owned by
Lockheed Martin, and operates Sandia National Laboratories at Kirtland
Air Force Base in
Other Mitre trustees include ex-Virginia Democrat
Senator Charles Robb (1989-2001, CFR) who was Virginia Governor,
1982-1986. He married Lynda
Bird Johnson, one of President Johnson’s daughters, in 1967. In 1979 Robb was a member of the American Council
of Young Political Leaders delegation to the People’s Republic of
I cannot say what has transpired at Pugwash
meetings, never having been invited (nor
likely to!) However, Cyrus
Eaton Jr. of Tower International, worked closely with Richardson
Dilworth (CFR) of the Rockefellers International Basic Economy Corporation
to open up trade with Iron Curtain countries---and in technology
transfer to them. See New York Times Microfilm,
Again, I cannot say, since I’m far from being
an insider here. However,
incidental evidence is significant, as in the case of Loral cosponsoring
a conference at which Jeremiah was invited as a speaker, and what
is known about them helping
Also “interesting” is the fact that Chen Jifeng
SINCLAIR WEEKS & SILVER USERS ASSOCIATION
Sinclair Weeks (1893-1972) was the driving force behind the founding
of the Silver Users Association in 1947.
There was a Du Pont connection, as we shall see.
Weeks was the son of John Wingate Weeks, a Republican Congressman
from 1905-1913 and a Senator from 1913 till 1919 who voted for the
Federal Reserve Act. The senior Weeks became Secretary of War in
1921-1925. Sinclair Weeks
was treasurer of the Republican National Committee from 1941-1944
and remained on the committee until 1953.
He was a director of the First National Bank of Boston (now
Fleet Boston, a Silver Users Association member) and was president
of Reed & Barton, silversmiths, beginning in 1928 (age 35) and
held that post into the early 1950’s.
An overseer of Harvard, Weeks was also president
of the Sterling Silversmiths Guild of America. Special interest stuff, indeed, with Weeks eyeing
the billions of ounces held by the
A Federal antitrust investigation yielded indictments
and convictions for some GM executives, yet the company was fined
only $5,000. GM was behind
the founding of the National Highway Users Conference.
The plan apparently was to encourage sales of motor vehicles
and the fuel and tires with which to operate them, and in so doing,
public transportation was squelched.
In 1953 GM president Charles Wilson became Secretary of Defense
and said that new highways were vital to national security.
While we all need a highway network, it is the manner in
which this was pursued which could be questioned.
At this same time the Commissioner of the Bureau of Public
Roads of the Commerce Department was Francis Du Pont, whose family
in addition to holding controlling interest in the chemical giant
Du Pont (Silver Users Association) was also the controlling faction
Commerce Secretary Weeks, founder of the Silver
Users Association, supported passage of the Federal Highway Act
of 1956, which appropriated $25 billion for expansion; the bill
was introduced by Senator Albert Gore Senior (so even if Gore beat
Bush in 2000, the Du Ponts might be in that background too).
Before leaving the Commerce Department, Weeks appointed Philip
Reed to some committees. Reed
was a director of Tiffany & Company (Silver Users Association),
and headed General Electric from 1945-1959.
Reed was with the War Production Board in WWII, and was assistant
to railroad heir Averill Harriman, who was ambassador to
ABOUT SILVER USERS ASSOCIATION
organization is long since out of touch with reality.
Where silver prices are concerned, they carry on as if it’s
still the year of their founding, 1947, when silver was extremely
abundant and cheap. Founded to get
Still, SUA says they “support government policies
which insure the flow of new production silver to the market.” How does that fit in with keeping the price
so low for many years that mining activity is squelched and production
curtailed? What sort of government
policies to support the flow of new production silver to the market
would they promote, while holding inviolate their notion of dirt-cheap
silver---nationalization of silver mines and exploitation with free
convict labor? They additionally
state their alleged wish that accurate silver market information
is disseminated. Accurate information, by whose
This goes to show the justifiably cynical onlooker
that the way you destroy someone, is by manipulation of definitions.
This could extend to any struggle imaginable (example---New
now I warrant, his skin is being burnt raw. His tongue is so swollen it chokes him. No doubt he is gradually losing his sanity.
That explains the gurgling sounds, the incoherent noises!”
(Spoken by Captain Risley, the despotic prison camp commander from an episode of “The Big Valley,” 1960’s TV western). SUA also states that it cooperates with government agencies---meaning especially the CFTC, an infested hotbed of subversion for silver shorts---to “reduce excesses in silver speculation.” The first thing you pick out of their blather here is allusions to the Hunt/Arab silver play. Okay, so the backward potbellied, T-bone steak eating hicks from the Texas cotton patch and their camel riding, dromedary date eating Arab partners tried to squeeze the market---to force a price rise by removing metal from availability. But we know they were squashed like a boot heel on a tater bug by the shorts and their buddies, the exchange officials, including Andrew Brimmer, who in January 1980 was a director of Du Pont (SUA member)! That issue is long since past.
The issue now is, SUA
has had its way so long with low silver prices, that the “great
hungry silver god” as
Can SUA account to Congress and the Justice Department
why they are the only commodity users association in existence,
and why in view of all the anecdotal proof visible that they are
constituted to hold silver prices low, that
this doesn’t make them guilty of anti-trust violations, of price
fixing on the shortside? It’s incredibly scandalous that this organization
has played its gnawing termite role for so many years, and that
it gives “members views to Congress and
the Administration,” and maintains “liaison with
is both an honor and a pleasure to address this distinguished group. We have a continued focus on prosecuting those
who attempt to manipulate markets or to defraud market participants. This regulatory innovativeness can help guarantee
that our markets will not only be the safest, but also as efficient
and effective as possible. These
are my ideas about where we go from here and what the core mission
of our agency should be. I
look forward to working with you.”
How is the CFTC going to do anything about speculative position limits in shorting silver when they have this attitude toward the users association---a group Newsome “looks forward to working with?” This is the most blatantly incestuous relationship between a cartel and regulators I’ve ever heard of. Even “History of the Great American Fortunes,” which chronicled hundreds of instances of startling corruption, has nothing to exceed this. I don’t believe that any amount of “regulatory innovativeness” on Newsome’s part will cause a deficit to go away at $4.50 silver. Undoubtedly why SUA has had their way for over 55 years, in addition to political influence, is the fact that most people’s minds are a bit on the simple side, and oftentimes they cannot perceive the obvious.
People have no trouble understanding a cartel
in the usual sense---on the long side, fixing prices upwards to
their benefit. If there had
been a Silver Producers Association working to raise prices over
the years, you can bet it would have had to be headquartered outside
Notice that Newsome’s sole concern is with prosecuting
silver longs, if he can make them scapegoats in a runaway price
increase. The definitions
of reality adhered to by SUA and CFTC are so badly messed up, it’s
like they were zookeepers, a kid fell into the monkey cage, and
they insist he’s a monkey because by definition, the only creatures
housed in monkey cages are monkeys.
So the kid (the silver miner) suffers in their monkey cage
because of their phony set of definitions. There is not the supply of silver in today’s
world to correlate to the demand, such that $4 range silver has
any basis in reality! The
day of fabulous bonanza silver grades is long since gone, and a
price reckoning will be forced on these users. The shorts have gone
to the nth degree holding the price down to year-end 2002, but suggestions
the end is close appear more starkly than ever.
SUA has created its own version of “The Bedford
Incident” (1965), the cold war drama of a
have a torpedo evasion plan haven’t you?
Well have you or haven’t you?
Captain! Come on! You
knew there was this chance, do something!”
the two men stood atop the
Chinese Reds aren’t benevolent like TV Bonanza’s Hop Sing,
how their ICBM’s can hit
Just so a bunch of high-powered jerks can make money!
All manner of councils, organizations and associations,
Unlike the Beach Boys, there are no Good Vibrations,
Presidents, Senators, Ambassadors and Admirals too,
aid and trade, strengthening
Powerful people all over the pages of Who’s Who,
Megabillions of profit in a balance of power scheme!
With missile technology the carrot on the stick?
Making millions of future war victims the losers,
tech trade with
Rockefellers, Mellons and Du Ponts still on the scene,
Rothschilds and Vanderbilts with them as well,
To boost the profit plan who dies? Military personnel!
Our Congress, corrupt as a hive of killer bees,
With sinister PAC money spread all over Capitol Hill,
SUA wants to keep silver low till hell starts to freeze,
I hope their wives will start taking an oral contraceptive pill!
Other billionaires like Soros and Gates
Wait for the users to run out of tricks,
Shareholders of unhedged miners have clever traits,
SUA members will cross over the River Styx!
Let CFTC explain why it refused to regulate,
While shorts and users made world stocks vanish away,
To avoid severe shortages, it’s way too late,
Watch the silver price orbit high---forever & a day!
Flat silver prices for years---what a disease!
But now the party’s almost at an end,
Who’ll try to blame longs? Any board of trustees!
But market forces now say---let the silver price ascend!
Who wanted to get her silver at prices so cheap?
Users grimace as if their thumbs are in electric sockets,
Walter Frankland, advocate of giveaway silver---what a creep!
That silver alone has a users association for a commodity,
Is a shocking matter much more than simply strange,
It’s an antitrust violation, not just a business oddity,
With CFTC & Congress who’s to blame? The Commodity Exchange!
Crazy devils shorting silver till there’s none left,
Naked shorting adds nothing to the silver supply,
That 10-ounce bar in your palm has a wonderful heft,
Users can’t get enough silver at any price---let them cry!
What is SUA’s torpedo evasion plan,
As the price of silver blows sky-high?
Their stocks will smell like a “Chem-Can,”
As silver shorting derivatives wither and die!
Standing on the observation deck of his ship,
Grimly watching silver torpedoes closing in,
SUA’s Frankland wishes he was on an LSD trip!
Silver shorts & users belong in the looney bin!
A hyperleverage explosion impending in silver shares,
As the Silver Supernova explodes, the sun catches on fire!
60,000% gains in silver, from users incredulous stares,
As we say, it’s time for SUA’s funeral pyre!