by Ed Steer
Contributor: Le Metropole Cafe
September 7, 2004
"To talk of many things:
Of shoes--and ships--and sealing-wax--
Of cabbages--and kings--
And why the sea is boiling hot--
And whether pigs have wings."
Lewis Carroll � 1872 � From the poem �The Walrus and the Carpenter� contained in his book: Through the Looking-Glass and What Alice Found There
Charles Lutwidge Dodgson
Renowned Victorian author Lewis Carroll was born Charles Lutwidge Dodgson on January 27, 1832, in Daresbury, Cheshire, England. The son of a clergyman, Carroll was the third child born to a family of eleven children. From a very early age he entertained himself and his family by performing magic tricks and marionette shows, and by writing poetry for his homemade newspapers. In 1846 he entered Rugby School, and in 1854 he graduated from Christ Church College, Oxford. He was successful in his study of mathematics and writing, and remained at the college after graduation to teach. His mathematical writings include An Elementary Treatise on Determinants (1867), Euclid and His Modern Rivals (1879), and Curiosa Mathematica (1888). While teaching, Carroll was ordained as a deacon; however, he never preached. He also began to pursue photography, often choosing children as the subject of his portraits. One of his favorite models was a young girl named Alice Liddell, the daughter of the Dean at Christ's Church, who later became the basis for Carroll's fictional character, Alice. He abandoned both photography and public speaking between 1880 and 1881, and focused on his writing.
Many of Lewis Carroll's philosophies were based on games. His interest in logic came purely from the playful nature of its principle rather than its uses as a tool. He primarily wrote comic fantasies and humorous verse that was often very childlike. Carroll published his novel Alice's Adventures in Wonderland in 1865, followed by Through the Looking Glass in 1872. Alice's story began as a piece of extemporaneous whimsy meant to entertain three little girls on a boating trip in 1862. Both of these works were considered children's novels that were satirical in nature and in exemplification of Carroll's wit. Also famous is Carroll's poem "Jabberwocky," in which he created nonsensical words from word combinations. Lewis Carroll died in Guildford, Surrey, on January 14, 1898. End.
The line of the poem �and whether pigs have wings� is a thought that has been running through my head for the last couple of years. There are a lot of �pigs� out there that have wings right now�which shouldn�t�the U.S. equity market, its associated bond market and the US dollar�to name the most obvious.
Other things that should have wings�or at least more wings than they currently have�are commodity prices in general�and gold and silver prices in particular. In fact everything is diametrically opposite to what it should be considering the economic and financial conditions that currently exist in the United States.
True, the paper markets are generally heading south, and the hard asset markets are generally heading north�but at glacial speed in both directions. However, those people and organizations (both inside and outside government) that are really in the know, understand that without the continued massive intervention by the Federal Reserve, the U.S. government�and their proxies, the entire world would be in financial ruins within days when (not if) they stop doing what they're doing.
Ever since the �crash of 1987 and President Ronald Reagan�s Executive Order #12631 dated March 18, 1988 which brought into existence the �Working Group on Financial Markets�, the U.S. financial/economic landscape has been managed to one degree or another�with this intervention now right out in the open since the U.S. markets peaked several years ago.
This intervention should now be totally obvious to anyone who wishes to see it. But it’s quite amazing really�the huge number of people that can’trecognize (or won't admit publicly) the evidence of the total manipulation that exists at virtually every level of the equity, bond and commodities markets�most of which is happening in the United States. The only evidence right now of foreign intervention on a massive scale, are the currency markets�with China and Japan being the biggest buyers of U.S. produced toilet paper out there. However, for the moment, Japan has said �no more�. Britain is also active in suppressing the gold price�but not as directly active since it sponsored their famous �Dutch Auction� of gold a few years back. Other foreign governments in various countries have had their fingers in their stock markets at specific times over the last twenty odd years�but the current massive intervention being attempted by the United States and the Federal Reserve at the moment, has gone way above and beyond anything that any government has ever been tried before in all of modern history.
Every time I write an essay, I always try to find a way to work in my favorite quote by British author Peter Warburton. Warburton wrote a book back in 2000 called �Debt and Delusion: Central Bank Follies That Threaten Economic Disaster�. The book, all 336 pages of it, was published by Penguin book of England and was only available in hardcover. It has become a sort of cult classic, and rumor has it that copies of it have sold for as much as $140 on e-Bay. There are currently twenty-four copies on backorder at Amazon.com
In addition to the book, Warburton wrote an essay that is currently achieved at David Tice�s Prudent Bear site. The essay is entitled: �The Debasement of World Currencies: It is Inflation but not as We Know It�. The three-paragraph quote is from that essay. The reason I'm so big on it is because the three short paragraphs describes exactly why the central banks of the world'specifically the U.S. Federal Reserve�are doing what they are doing. The essay was written back in April of 2001. There has been a lot of water under the bridge since then, but what he says still stands like the Rock of Gibraltar it rightfully is.
At Joe Martin�s Cambridge House resource conference in Vancouver in June of this year, I had the opportunity to share the stage with Bill Murphy, Chris Powell and Mike Bolser of the (GATA). My allotted time was spent reading these three paragraphs (very slowly and very carefully) at the breakout session that GATA had. Here they are�
Central banks are engaged in a desperate battle on two fronts
What we see at present is a battle between the central banks and the collapse of the financial system fought on two fronts. On one front, the central banks preside over the creation of additional liquidity for the financial system in order to hold back the tide of debt defaults that would otherwise occur. On the other, they incite investment banks (JPMorgan, Goldman Sachs, Citigroup etc) and other willing parties to bet against a rise in the prices of gold, oil, base metals, soft commodities or anything else that might be deemed an indicator of inherent value. Their objective is to deprive the independent observer of any reliable benchmark against which to measure the eroding value, not only of the US dollar, but all fiat currencies. Equally, their actions seek to deny the investor the opportunity to hedge against the fragility of the financial system by switching into a freely traded market for non-financial assets.
It is important to recognize that the central banks have found the battle on the second front much easier to fight than the first. Last November (2000), I estimated the size of the gross stock of global debt instruments at $90 trillion for mid-2000 (now $250+ trillion - Ed). How much capital would it take to control the combined gold, oil and commodity markets? Probably, no more than $200bn, using derivatives. Moreover, it is not necessary for the central banks to fight the battle themselves, although central bank gold sales and gold leasing have certainly contributed to the cause. Most of the world's large investment banks (JPMorgan, Goldman Sachs, Citigroup et al) have over-traded their capital (bases) so flagrantly that if the central banks were to lose the fight on the first front, then their stock would be worthless. Because their fate is intertwined with that of the central banks, investment banks are willing participants in the battle against rising gold, oil and commodity prices.
Central banks, and particularly the US Federal Reserve, are deploying their heavy artillery in the battle against a systemic collapse. This has been their primary concern for at least seven years. Their immediate objectives are to prevent the private sector bond market from closing its doors to new or refinancing borrowers and to forestall a technical break in the Dow Jones Industrials. Keeping the bond markets open is absolutely vital at a time when corporate profitability is on the ropes. Keeping the equity index on an even keel is essential to protect the wealth of the household sector and to maintain the expectation of future gains. For as long as these objectives can be achieved, the value of the US dollar can also be stabilized in relation to other currencies, despite the extraordinary imbalances in external trade.
The whole article by Warburton falls into the must read category. It is hyper-linked above�and here. It will take you about fifteen minutes to go through it. I don't agree with his conclusions, as gold and silver already fulfill this role if �the powers that be� will allow it to happen. Someday they will have no choice.
Peter Warburton isn't the only person who has written extensively on this subject. Over at financialsense.com, Jim Puplava has written an essay on this very same thing, drawing heavily from Warburton�s body of work. Puplava�s work is also definitive and is entitled �The Next Big Thing�
The bottom line is that the �powers that be� are doing absolutely everything possible to keep people on the �paper� side of the street, rather than encourage them to invest in �hard assets� that have intrinsic value. Of course the ultimate commodities that have intrinsic value are the two metals that have been money before (and through) all of recorded history�silver and gold. �The powers that be� are not only shorting key commodities, but also seem to attempting to manage the share prices of some companies that produce them. And if they aren't shorting the shares, they are managing the HUI and the oil and gas indexes in order to prevent them from indicating important buy signals. Their footprints in the HUI are more than obvious at times.
These 'powers that be'...or the 'money trusts' as William Jennings Bryan used to call them back in his day...have but one purpose...to destroy democracy (particularly in the United States) and impose one world government on us all. In America, this process began in earnest with the passing of the Federal Reserve Act in 1913...on the day before Christmas.
Jay Taylor has talked about these �powers that be� extensively in his weekly postings at www.gold-eagle.com over the last number of years. Here's what he had to say back in January�
�So why doesn't Mr. Greenspan resort to the correct policy? Does he need a small time newsletter writer like Jay Taylor to tell him how to construct monetary policy? Hardly. I think Mr. Greenspan knows entirely what he is doing, which in my view makes him even more culpable for the extreme harm that he is engineering for Americans. There are credible theories out there that the Federal Reserve bank has been in fact created to serve a few powerful global banking families primarily in England and the U.S. who are in the process of shaping our one-world government, with themselves (of course) in charge. For some insights into what I believe to be well-founded theories, subscribers are encouraged to read "The Creature from Jekyll Island: A Second Look at the Federal Reserve," by G. Edward Griffin (also see http://www.realityzone.com/ and especially www.freedom-force.org)
For confirmation of the views of Ed Griffin, I would also suggest you read "Tragedy & Hope: A History of the World in Our Time," by Carroll Quigley�who was President Clinton's history professor at Georgetown. Why would Quigley, who was near the inner sanctum of these ruling elite families, spill the beans on this issue? Because, in his view, the ruling elite have already become so entrenched in the political and economic fiber of the western world that their power cannot be reversed.
Griffin believes that these ruling elite families don't care two hoots about America's Constitution (which may be why it is being violated more and more over time). In fact, some believe these families see economic and/or political chaos as a means of securing more power and even more wealth for themselves. A little war here and there. A little depression now and then and people will be willing to give up their liberty without a fight, to ensure safety by "Big Brother."
I believe�from a big picture perspective�that may well be part of what is going on with the Federal Reserve policy. Its policies drive the global economy further and further out of balance and thus ensure an ever more devastating collapse. And when the collapse comes, helpless citizens will turn ever more willingly toward Big Brother for help and will gladly submit to Big Brother's conditions in exchange for a morsel of food and clothing.
Nor are the benefits to the ruling elite accruing only in the long term. Banks create money out of thin air. Money is the banker's inventory. Do you know of any other business that can create its inventory out of thin air and then sell it? So in the short run, while it is laying the ground work for total control, the banking system continues to shift wealth in its direction by money that is not wealth, but only claims against the wealth�actually created by hard working honest Americans who, like sheep being led to the slaughter, have not a clue about all of this. In fact Americans are led to believe by CNBC's Curley and Moe and the Good Hair/Bad Hair guys that the Fed is a not-for-profit government agency acting kindly in favor of all Americans. So let the good times roll. Why worry about global trade imbalances or budget deficits that will never be paid, or rising bankruptcies even in an environment of low interest rates? End.
The Fed�a �not-for-profit� agency of the U.S. government? I don't think so, sports fans. Sir Alan and his �merry men� are all appointees�a front for the real owners. The Federal Reserve is a private company (a banking cartel) owned by eight banks�only four of which are American, the rest are European or British. You�ll find the Federal Reserve Corporation in the white pages of the New York phone book�just like you would American Airlines or McDonalds�not under U.S. government agencies. Here are the card-carrying shareholders in the Federal Reserve Corporation�
Rothschild Banks of
London and Berlin
Lazard Brothers Bank of Paris
Israel Moses Sieff Banks of Italy
Warburg Bank of Hamburg and Amsterdam
Lehman Brothers Bank of New York
Kuhn Loeb Bank of New York
Chase Manhattan Bank of New York
Goldman Sachs Bank of New York
With that out of the way, let's see what else Jay Taylor has to say about this one world government and the New World Order�this in March�
America is starting to resemble the old Soviet Union more and more as times goes on. Isn't it amazing how unanimous conventional wisdom is, not only on views about world events and the economy, but also on exactly what is deemed to be newsworthy and hence given coverage? We may not have an official "Pravda," but the results are the same. Our government puts out information that is instantly parroted on every radio and TV station in the world. We are being told what to think about and how to think about it, and most Americans could seemingly care less as long as their standard of living doesn't decline.
Actually, Congressman Oscar Callaway explained the origin of America's controlled press as early as 1917. He told how American corporate interests headed by J.P. Morgan arranged to buy the top 25 newspapers in America in order to control the news content. The account of how the ruling elite-the same family interests who still rig the gold and silver prices today, and with near certainty also intervene in the U.S. equity markets-have managed to win the mind control game in America is provided in James Perloff's well-documented book titled, "The Shadows of Power: The Council on Foreign Relations and the American Decline". If you really want to know who the power behind the American throne is, you need to read this book, as well as "The Creature from Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin. Given the history of how the ruling elite have managed to gain and retain control of the American "spin machine," the evidence provided by GATA that the gold and silver markets are rigged should come as no surprise to those who have taken the time to read well-documented accounts of what the richest families in America and Europe have been up to behind the American political scene. End
So how are things going over at The New World Order Bar & Grill these days? Well, since the United States went into Iraq, I would say that there have been some major shifts in alliances around the world. It appears that the United States and Britain have taken it upon themselves to go it alone and see if they can really run the world�Pax Americana�a new �Roman Empire�. Needless to say, this is has not impressed the Arabs, Europeans, Russians and the Chinese, et al.
The United States government, military and media are doing everything in their power to incite hatred against America by all of the Islamic countries. In this they have succeeded beyond their wildest imaginations.
It's pretty well recognized that the �powers that be� allowed 9/11 to happen�even helped out where they could. Michael Ruppert, the proprietor at www.fromthewilderness.com has not been a shrinking violet on this issue. On August 31, 2004�he gave a speech before the Commonwealth Club of California regarding 9/11 and peak oil that will just blow your socks off. The speech is hyperlinked here. Plus he's got a new book coming out in October entitled �Crossing the Rubicon: The Decline of the American Empire at the End of the Age of Oil�. I would say that it might be worth the read.
Another book (which I mentioned nine months ago) that's doing well on this issue is �The New Pearl Harbor: Disturbing Questions About the Bush Administration and 9/11� by David Ray Griffin. Published in January, it’s still well up in the top one hundred on Amazon.com�s list of Top Political Books. His analysis is based on the theory that a significant external threat, on the scale of Pearl Harbor, was very much in the interest of the Bush administration, which he believes is intent on self-interested aggressive foreign policies.
If you read the Pearl Harbor hyperlink two lines above, you�ll see that the story of what happened on December 7, 1941 is still mired in controversy after all these years�as was the sinking of the Lusitania that got Americans on side for WWI. So the next manufactured �incident� on US soil (or against U.S. interests elsewhere) will allow �the powers that be� to stick the blame on any Islamic person or organization they wish�or even one they make up themselves. This is their modus operandi to get everyone to buy into their �War on Terror�. But is it a front for Pax Americana, a Middle East oil grab, or another step down the path to one world government as envisaged by the New World Order crowd�or all of the above? Frankly�I don't know�but I'm sure keeping a watchful eye on it.
And not that I wish to appear callous, insensitive or uncaring, but I'm just curious to know how Putin might use the tragedy in Beslan to his advantage in the months and years ahead. The whole ugly story is hyperlinked here.
Someone else who has recently stepped up to the plate and warned people about this New World Order is none other than ex-Swiss banker, Ferdinand Lipps�the author of �GOLD WARS: The Battle Against Sound Money as Seen From a Swiss Perspective�. On page eight and nine of a speech entitled �Gold Wars: Military Conflicts, Gold and Currency Crises� that he gave at the University of St. Gallen, Switzerland on 24 June 2004�Ferdinand had this to say�
When the gold standard was abandoned, central banks were the last barrier to rampant money creation, as long as they were able to maintain their independence. In the meantime, however, we have learned from bitter experience just how ineffective these so-called keepers have been. Central bank independence did not turn out how it was intended to be. Central banks became compliant pawns of the governments. (An even stronger case can be made for exactly the opposite scenario � Ed) Indeed, it is precisely the central banks and the banking system that, through their creation of credit, have made deficit spending and war expenditures possible, and even promoted them in many instances. In his book �Debt and Delusion,� British economist Peter Warburton places most of the blame for the deterioration of economic and financial policy since the early 1980s on the central banks, as there are no �golden brakes� anymore.
The most ominous and threatening event in central bank history was the establishment of the Federal Reserve System in the USA in 1913. The Bank of England and Germany's Reichsbank served as a model. If you do not appreciate at the moment why I view the foundation of the Fed as ominous, I advise you to read the book �The Creature From Jekyll Island � A Second Look at the Federal Reserve System� by G. Edward Griffin. Under the pretext of protecting the public against bank crashes and maintaining a stable value of money, the US Fed (which is not federal at all, but rather very private) is a cartel that is designed to protect its members against unwelcome competition and, in the event of losses, to pass these on to taxpayers. Its foundation flies in the face of the American Constitution envisioned by the founding fathers. Presidents like Thomas Jefferson and Andrew Jackson were always against the establishment of a central bank. It came into being in a very devious manner, as the Federal Reserve Act was pushed through Congress just prior to Christmas of 1913, when most delegates were already at home with their families. Its foundation violates the American Constitution, which states that only gold, and silver should be considered legal tender. End
Mr. Lipps goes into quite a bit of detail about G. Edward Griffin�s book in the paragraphs that follow the above quote, so I urge one and all to read Ferdi�s entire speech, which is hyperlinked here: Vortrag_UNISG_E_240604.pdf
If you are new to all of this kind of talk, you are probably getting the idea that you might have some reading to do. Long before you get through all the books I mention in this essay, you will get the picture. If you don't want to buy the books, at least do yourself the favour of reading the book reviews and reader comments on each one, so you can get an idea of what each book is about. It's also my opinion that most people reading this essay already have a pretty good handle on what's happening out there as it is. But in case you don't�www.amazon.com or just use the hyperlinks in this essay.
Please remember that I'm not an original thinker in all this. I have learned from others�the writers of these books. None of what you read in their books is conjecture�none of it. It is all based on fact�even though you may find some of what is said to be unbelievable. That is what is really scary about all of this. As Ed Griffin says in the preface of his book �The Creature�� �Another obstacle to communication is that this tale truly is incredible, which means unbelievable. The magnitude by which reality deviates from the accepted myth is so great that, for most people, it simply is beyond credibility. Anyone carrying this message is immediately suspected of paranoia.�
Getting back to 9/11 for a moment, it’s my belief that this event was the start of a series of world events that �the powers that be� will use to allow them to suck us all into believing that they know what's best for us. We all know that they don't, but they are going to give it the old college try anyway. Don't forget what David Rockefeller said at the beginning of his meeting of The Trilateral Commission back in June of 1991� �We are grateful to the Washington Post, the New York Times, Time Magazine, and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during those years. But, the work is now much more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.�
However, the boys over at the Council on Foreign Relations do seem to have some problems right now. Iraq isn't going too well, but that doesn't matter. Bush and Kerry, both Yale graduates and members of the �Skull and Bones� fraternity, aren't going to be changing their policies vis a vis the Middle East regardless of which one wins the White House. All attempts by the US (and British) governments and military to justify their presence in Iraq have fallen apart, and everyone knows that America and Britain have no legal right to be there. Their actions pretty well put the entire body of international law�agreed to by all nations to date�in serious jeopardy. The US and Britain are guilty of breaking just about every international law regarding national sovereignty that I can think of. Here's a quote on this issue from the Introduction page in Richard Heinberg�s book �POWERDOWN: Options and Actions for a Post-Carbon World��"The recent declaration by the U.S. that it has the right to preemptive war, and its use of that 'right' as a rationale for its invasion of Iraq, could potentially plunge international affairs into a new era of lawlessness. Henceforth, an attack by any nation on any other could be justifiable as self-protection against imagined future threats."
Another enlightening quote on the New World Order and peak oil comes from Marshall Auerback over at David Tice�s website�www.prudentbear.com. In an essay dated August 31, 2004 and entitled �Putin and The Geopolitics of Oil��Marshall had this to say��In any event, the geopolitics of oil today suggest a backdrop looking less like a benign, happily globalized �one world economy� dominated by America Inc and its assorted �branch plants�, and more a massive, overextended military power fighting a dangerous, and ultimately losing, battle against an angry, resistant globe, of which Russia is but one more growing manifestation.�
Marshall, if we ever meet, remind me that I owe you a cigar�make it Cuban!
Back to the U.S. elections I was just mentioning a couple of paragraphs back�you will note in the news that Kerry is talking about changing U.S. policy and tactics in Iraq�not pulling the troops out. Someone should make careful note of that. The U.S. is in Iraq (and the rest of the Middle East) permanently, or at least so they say. Of course Hitler said the same thing when he invaded his neigbours�and so did the Russians in Afghanistan. It certainly appears that the time has now come for the U.S. and Britain to try their hand at this �Roman Empire� stuff before the oil runs out.
Other problems facing the U.S. are the new reborn Russia. Putin has been flexing his muscles; economically, politically and militarily ever since 9/11. Then there's China and India. But are Russia and the U.S. really at daggers drawn as it’s being made to appear? By the time you're through G. Edward Griffin�s book, you will be forgiven if you think otherwise. The same goes for China. Thanks to the research of Charles Savoie over at Dave Morgan�s website www.silver-investor.com we now find out that the head of the People�s Bank of China is a card carrying member of The Trilateral Commission�and by extension�is now a major player in the New World Order. Here's the quote from Savoie�s essay �Michael Gorham�s Paper Money Mob!��
�Zhou Xiaochuan, current Governor of the People's Bank of China, is one of only two Red Chinese members I saw on The Trilateral Commission roster.
This is the same official that Ted Butler sent a letter to recently concerning the dumping of Chinese silver to satisfy the deficit. The 56-year-old Xiaochuan was previously chairman of the China Securities Regulatory Commission and president of the China Construction Bank. The other Mainland Chinese member is Wang Jun, chairman of China International Trust & Investment. In contrast, at least seventy-one Japanese are members. Considering how China suffered under the Japanese before and during World War II, and the notable British members of Trilateral with Britain's nineteenth century opium trade that did so much damage to China, it's a bit odd that any Mainland Chinese would be members. But in the world of high finance and manipulation of international governments, intrigue makes such things possible.� End
And just in passing, there seems to be the odd problem in the House of Saud these days too. Ibn Saud, the WWI Arabian sheikh/warlord for whom Saudi Arabia was ultimately named, must be spinning in his grave right now. See Chapter 46 �Arabia: The Spring of 1919, Page 424 �A Peace to End All Peace: The Fall of the Ottoman Empire and the Creation of the Modern Middle East� by David Fromkin.
But America was deliberately started on the road to ruin way back on Christmas Eve 1913 when the Federal Reserve Act was passed using trickery and chicanery when most members were already home for the holidays. American�s decline begins there and �The Creature From Jekyll Island� tells the story of how it was done and how the banking cartel now reaches into every nook and cranny of America and beyond.
In the 91 years since then, the American dollar�taken off the �Made in Bretton Woods� gold standard for good in 1971�has lost over 95% of it’s purchasing power. The Council on Foreign Relations, and more recently David Rockefeller�s Trilateral Commission, has accelerated American�s decline. Any of us over fifty�including myself�have seen the results of their work, even though we may not have recognized it for what it was at the time. This would include the Korean war, the Vietnam war, the decline of education standards�not only what is taught in schools, but now what is not taught anymore, the decline in moral values as the media now controls everything that we see, read or hear. If we take a look at the values we were taught in our early teens back in the 50s and 60s and compare that with today�well? TV, radio, print media, dress codes�the media has been corrupted to the point that what we see on TV or hear on the radio is now basically thinly disguised pornography�the TV sitcom Sex in the City would be one of many programs being passed off as �entertainment� these days�and don't get me started on �reality TV.� Back in the 50s, nothing like that would have been allowed, and the language and disrespect a lot of kids have for their teachers, parents and any sign of authority would not have been tolerated by anyone even twenty years ago. The �dumbing down� of America begun about forty years ago is now just about complete.
It is a tragedy to watch America being turned into the giant tottering edifice that it has become. The United States has been deliberately weakened internally for decades�morally, spiritually, economically and financially. The above-mentioned things are only a small part of what is going on. Government is corrupt, as is big business, the military, and the judicial system (at the highest levels). And of course so is Wall Street. All of this is fully aided and abetted by �The Creature� (A cartel of eight banks) with Sir Alan at the controls behind the curtain. All courts no longer support key parts of The Constitution of the United States...gold and silver being money is the case in point here. I'm afraid that America is only one �terrorist� event away from becoming a Fascist dictatorship�think Patriot Act�I & II.
With all levels of American society carrying almost $40 trillion in debt and another $44 trillion of unfunded liabilities looming in her future, America is bankrupt. It's almost superfluous to even mention the $1 trillion/year budget and current account deficit that American is currently running�with no end in sight�ever!
Stuffed like dynamite into every nook and cranny of this weakened structure is the $250 trillion of derivatives just waiting for a match�or the next non-linear event. Warren Buffett has it right��weapons of financial mass destruction���financial sewage��that's exactly what they will turn out to be.
What is going on in the world today is absolute insanity in all directions, and it will end in total disaster for the United States and the West�and that's the plan. However, Americans attention will be diverted elsewhere and the powers that be will be blaming �foreign influences��i.e. terrorists�when they (the powers that be) finally bring this financial game to an end.
The real fingers of blame should be pointed at the Federal Reserve, the Council on Foreign Relations, The Trilateral Commission, The Royal Institute of International Relations, and the entire banking system. In the United States, JPMorgan, Goldman Sachs and Citigroup are but handmaidens of American foreign and domestic monetary policy�remember Warburton�s three famous paragraphs. These three organizations (even though Goldman Sachs is an investment firm and not a bank) have a huge chunk of all the world's derivatives in their portfolios and way over 75% of the gold and silver derivatives in the United States�all meant to keep commodity prices low, and the investing public on the paper side of the street. They will do anything�and I mean anything to keep us there�quite possibly down to the last 400 oz. good delivery bar�as Mike Bolser has said in the past. However, the jury is still out on that one.
The lynchpin of this whole Keynesian nightmare is the U.S. dollar. Its demise, when it comes, will be the final straw that breaks the camel�s back and will ignite a derivatives conflagration that will fry the international financial system virtually overnight. I couldn't agree more with what Bob Landis had to say in his latest article over at www.goldensextant.com.
In talking about derivatives, hedge funds come to mind. There are two really good books that I've read on this issue. The first one is �F.I.A.S.C.O.: The Inside Story of a Wall Street Trader� by Frank Partnoy. The second is a classic work�Roger Lowenstein�s �When Genius Failed: The Rise and Fall of Long-Term Capital Management�. I've read both books twice, and I just shake my head at what really goes on behind the scenes at hedge funds�and there are over 6,000 of them out there�totally unregulated�and all doing their own thing.
Talking about LTCM, if you don't want to read the book, then you absolutely must read John Brimelow�s most excellent essay about it�a book review extraordinaire. John�s commentary is four years old, but just as relevant now as it was then�especially in light of what happened at Enron�and now Sons of Gwalia. His essay on this subject is definitive, and is hyperlinked here.
While bringing up the subject of derivatives, one must not overlook the large U.S. banks and investment firms. I mentioned their gold derivatives in a previous paragraph, but these monetary amounts pale into virtual insignificance when compared to the other derivatives they hold�a lot of them interest rate related. JPMorgan, Citigroup, BankAmerica and Goldman Sachs and three other U.S. banks are sitting on over 90% of the total derivatives in the entire United States banking system. But they are no longer either banks or investment firms, but super-leveraged hedge funds in drag. As Peter Warburton said in this three famous paragraphs much earlier in this essay� �Most of the world's large investment banks (JPMorgan, Goldman Sachs, Citigroup et al) have over-traded their capital (bases) so flagrantly that if the central banks were to lose the fight on the first front, then their stock would be worthless. Because their fate is intertwined with that of the central banks, investment banks are willing participants in the battle against rising gold, oil and commodity prices.� Adam Hamilton has written extensively about that derivatives colossus, JPMorgan, over at his website www.zealllc.com.
The cracks in the world's financial system are already apparent and have become more frequent as time moves along�as the fight between paper money and hard assets starts to break out into the open. GATA (The Gold Anti-Trust Action Committee) started more than five years ago with an idea, and two people�Bill Murphy and Chris Powell. I came on board about a year later. Facts were hard to come by as the lid was on pretty tight, the Internet was just in its infancy, and very few were following gold back then. Now, with almost six years worth of water under the bridge, the picture is virtually complete. The speed at which GATA and her army is pried the lid off this whole festering international puss bag is astounding. A quick review of what has transpired in the last while is in order.
1. Barrick Gold and JPMorgan sued by Blanchard Coin of New Orleans for rigging the gold market. See www.savegold.com .
2. Rothschild departs the LBMA�followed shortly thereafter by AIG.
3. Out of nowhere�Oleg Mozhayskov, the Deputy Chairman of the Russian Central Bank�in a press release at a LBMA meeting in Moscow stated that he believed that GATA is right in its allegations that the gold price is rigged.
4. The Central Bank of Vietnam announces they're going to diversify out of the U.S. dollar by buying gold.
5. The Central Bank of Argentina announces that they've been buying gold since the beginning of the year�about 42 tonnes worth.
6. John Embry of Sprott Asset Management, and GATA�s Andrew Hepburn, release their seventy-one page report entitled: �Not Free, Not Fair: The Long-Term Manipulation of the Gold Price�.
7. The delicious story about the Son�s of Gwalia that occurred recently.
8. Then there's the latest from John Reade over at UBS that the central banks may sell less gold than planned for WAG-II
9. And just as I �went to press� on this, look what the World Gold Council just said about Chinese gold demand in the next couple of years!
Regarding item #8, John Reade�s story is hyperlinked here�.Gold020904.pdf. But even before Reade�s article hit the street (September 2, 2004), James Turk over at www.goldmoney.com had written an essay dated August 30, 2004 entitled �The Next Washington Agreement.� It is currently only available in full at Bill Murphy�s website www.lemetropolecafe.com. However James was kind enough to allow me to post the last three paragraphs from his more than prophetic work. Here they are�
�So the net result is that if any surprising or unexpected news comes from WAG II, the surprise will be bullish for gold. The bearish aspects of WAG II have already been discounted, and the market does not appear to be expecting any bullish news.
So prepare for some upside fireworks in gold to begin in September, either in the days leading up to the IMF meeting as market participants try to fathom the implications of WAG II, or in the days after WAG II is announced. As was the case of the first WAG, we could see a $60 rally in a matter of days. But this time there are enough bullish reasons driving gold higher to expect that central bankers will not be able to stop gold's inevitable ascent to more normal price levels.
In summary, the absence of any news from central bankers in recent months about WAG II is a clear sign that central banks are having trouble behind the scenes. If there were any news that was to the central banks� advantage, you would be hearing about it.� End
The question begs to be asked�how many more straws can be piled on top of this flea-bitten and moth-eaten �gold market rigging camel� before it collapses�the final straw that breaks it’s back. The central banks and the bullion banks have done everything possible to keep this critter totally out of sight of the general public, but from what's been learned to date, this camel is not only a little long in the tooth�it’s a bit more than wobbly at the knee as well.
So what's next?
I'm in the Mike Bolser camp on this one�or maybe he's in mine? It's my opinion that �the powers that be� have their next 9/11-type event just around the corner. Whether it happens before the election�or after�I'm not sure about. Mike and I agree that everything is being held up�or down�as the case may be, until some preordained event occurs�or is allowed to occur. What it is�we don't know. The only thing I do know is that we aren't going to like it. However, the distortions in the world's economic and financial system�and critical commodities�has becomes so far removed from reality that this situation cannot be held in check for much longer.
Mike calls it the T* (T-Star) date. T* is an invention of Professor Maurice Obstfelt, UC Berkeley. That economics department is focused on monetary issues including gold. Mike first brought it to the gold community�s attention with his essay �Preemptive Selling of Gold: The Bigger Picture.� T* star occurs when persons, institutions/hedge funds, central banks or governments make their last gasp attempt to get what's left of the visible gold and silver supplies from the LBMA and the COMEX�and the whole price rigging scheme collapses. As a result, gold and silver will skyrocket and the COMEX will be closed. Short sellers�the institutions currently suppressing the silver and gold prices�will be let out of their losing positions by lack of a �pricing mechanism.��a term written into the language of all short contracts on the COMEX.
Mike�s proprietary interventional analysis work on the DOW and the gold price is located at this URL. No business day should be considered complete until you've checked out Mike�s graphs�which are updated daily.
And Mike could be right. His T* date could be one of the things that sets it all off. This scenario might be the cause of what's coming�or it could be a reaction to other events occurring at the same time�which is the scenario I'm leaning towards.
It could be another �terrorist� attack on U.S. soil, or elsewhere�an oil related event�or any other geo-political event. Whatever it is, it will start the price of gold and silver on its way.
And don't forget...that unlike every other traded commodity�there are no effective position limits on gold and silver at the COMEX. Ted Butler advised me that this rule change was snuck in a little over ten years ago.
If the COMEX is closed, then the new price for these two world currencies will be set outside the United States�and possibly Britain�if the LBMA closes in sympathy. If the COMEX does remain open for a while, or stays open through all this�a scenario that Mike Bolser doesn't buy into�then the price of gold and silver could be some astronomical number by the end of even one trading day.
The reasons that the price of gold and silver can go so high in one day is contained in an essay by silver expert, Ted Butler. The essay is entitled �Take it to the Limit� and in it, he had this to say�
�Ask most traders and investors what the daily price limits are and they'll respond, "Something like 75 cents/per ounce in silver and around $25 dollars in gold", as these used to be the limits many years ago. But that is definitely the wrong answer. Effectively, there are no daily limits in gold and silver. No cooling off period. No additional time for margin money to be raised. Don't believe me? Here is the exact wording, copied from the NYMEX web site for silver (for gold, just substitute $75 per ounce for the initial limit) �
Maximum Daily Price Fluctuation -- �Initial price limit, based upon the preceding day's settlement price, is $1.50. Two minutes after either of the two most active months trades at the limit, trades in all months of futures and options will cease for a 15-minute period. Trading will also cease if either of the two active months is bid at the upper limit or offered at the lower limit for two minutes without trading. Trading will not cease if the limit is reached during the final 20 minutes of a day's trading. If the limit is reached during the final half hour of trading, trading will resume no later than 10 minutes before the normal closing time. When trading resumes after a cessation of trading, the price limits will be expanded by increments of 100%.�
Butler goes on to say� �A fair reading of what the daily limit is in COMEX gold and silver would be no limit. That's because the limit is only temporary and expands throughout the day. This arrangement is tantamount to having no daily price limit. (Emphasis is mine � Ed). Consequently, there are no real daily price limits on COMEX silver, the commodity with the largest naked short position in the history of the world. According to the NYMEX/COMEX's own rules, the price of silver could jump $10 or $20 per ounce, or more on any given day. (At current prices, silver can't possibly fall that amount). Come to think of it, this "no limit" limit fits in perfectly with the "no limit" speculative position limit that the COMEX and CFTC permit in silver.�
Ted Butler�s most excellent article on this subject is hyperlinked above�and here.
I take what Ted Butler says very seriously, and it’s my opinion that your personal financial well-being would be well served if you did too. His entire body of work is contained at his website www.butlerresearch.com. and is listed under �Archives.�
To be quite truthful about it, no one really knows what's going to happen when �the event� occurs. Quite frankly, there won't be a lot we can do about it except sit back and maybe open a bottle of wine and watch events unfold on TV. That will be my personal strategy here at home�or at the office�whichever place I happen to be at the time. I have a case of well oaked Shiraz set aside for just that purpose.
How will (or should) all this affect the price of gold and silver right now, you might ask?
At the current moment, it would be peachy keen if the gold and silver company executives would spend a little more time concerned about the welfare of their stockholders in whose best interest they are supposed to be working. Most executives of the precious metals companies we own stock in are well oiled with their little nest eggs of stock options. Therefore, one would naturally assume that with them holding more shares in their companies than most us would ever own, the price of the product they are mining�and therefore the share price of their companies�would be of paramount importance to them too. Well�one would obviously be wrong.
One wonders why they don't want to confront the CFTC/COMEX or call a press conference to rail at the forces that are aligned against them and their shareholders�especially since the report by John Embry and Andrew Hepburn has cleared a path for them. They don't even have to admit that they believe it themselves; they can just point at the Embry/Hepburn report and ask��� Hey! What�s going on! You people of the press should find out. That's your job too. Call the NYMEX, the COMEX and the CFTC. We�ll provide the contact names, phone numbers and e-mail addresses. Plus we're going be on the phone to them as well, as we have the best interests of our shareholders at heart at all times. While you're at it there are some people out there who are really up on this�they are Bill Murphy of an organization called GATA, they can tell you everything about the gold market; and also call Ted Butler, he's the world's number one silver expert. These guys are the real pros out there. Once you're through talking to these guys, you will have one hell of a story to put in your papers.�
I'm not holding my breath�and I'm sure you aren't either.
A couple of weeks back a very prominent U.S. precious metals stock analyst and newsletter writer told that most of these companies don't want to rock the boat as they might start running into mining and permitting problems in the respective countries where they operate. It's the �go along to get along� syndrome. Of all the concerns that the mining companies might have, this is the most valid one.
But since he said that, John and Andrew�s report was issued, and has put the fox squarely amongst the pigeons on this issue. The establishment of the gold and silver industry can turn up their collective noses at us at GATA if they wish, but doing to the same to John Embry over at Sprott�I don't think so.
In my opinion, the other thing that prevents the gold and silver companies from doing anything at this stage of the game would be an admission that the GATA army, Ted Butler and the boys at Sprott were right; and they would immediately stand accused of �fiddling while Rome was burning.��for the last five plus years. Considering some of the outlandish egos that run these companies out there, admitting to it now would be tantamount to showing how incompetent they really are�individually�and as a group.
To be fair to the gold and silver companies, this report will have to be dealt with at the Board of Directors level�and this takes a little time. A public response would come either from the Chairman of the Board or the Chief Executive Officer�or both. But consultation (and agreement) between the executive and the board would be a must in this situation before anything would be done. However, this issue is now far too big to go away. The ball is firmly and thoroughly in the miner�s court, and they know it. Shareholder are getting restless�and with very good reason.
Frankly, if nothing concrete emanates from the boardrooms of the gold and silver companies within the next sixty days, it’s my opinion that the executives and Boards of Directors of every precious metals company in North America should resign immediately�with some notable exceptions of course. Their successors should be sworn to deal with the rigging of the precious metals market as their number one priority before they would be accepted to the newly vacated positions to which they were either elected by the shareholders, or appointed by a new board of directors�also selected by the shareholders.
Only if the precious metals companies make a huge public issue of the Embry/Hepburn report, should they be allowed to retain their jobs. Their real owners�you and I�should turf them out the first chance we get�the next time we get their proxy votes in the mail. Like Ted Butler, I know I speak for virtually every precious metals stockholder out there when I say that.
Of all the countries that are major gold producers, the one that should be up in arms about what is happening to their industry (besides South Africa) are the Canadian gold and silver companies�regardless of where their mines are. I'm not talking about Barrick or Placer who (I believe) are bought and paid for by �the boys��and who are heavily hedged and working directly against the interests of their shareholders. (And it also amazes me how the Canadian gold industry can just sit there and say and do nothing when the likes of Barrick Gold and JPMorgan get sued for rigging the gold price. What an opportunity to bring this whole sorry mess up in the Canadian press�but not a word!)
As I said, there is absolutely no excuse whatsoever for Canadian gold and silver miners, especially those ones whose mines are in Canada, not to say something. Except for Barrick and Placer, no Canadian mining company is heavily hedged�and they don't have to worry about the influences of the heavy hand of government on their operations. The fact that they aren't, speaks poorly of their respective managements and boards of directors.
I look at Newmont Mining (based in the U.S.) with Mssrs. Murdy and Lassonde at the helm, and know that they could end this whole sad affair any time. I wonder what's going through Pierre Lassonde�s head right now? He's Canadian�and knows the right thing to do. He's also one of the smartest guys in the business�he and Seymour Schulich. Not only do they already know what's going on in the gold world�they've probably already read John and Andrew�s report at least once. The company prides itself in having mining operations in mining friendly countries. If that's the case, why don't they put it to the test? How could they possibly be in harm�s way by standing up and doing what's best for their shareholders? Well, I can certainly come up with a pretty good guess as to why they won't. So what will they do? The short answer is�nothing. So is the long answer.
But that's no excuse for other countries�especially Canada and South Africa. I can see why American based companies may not want to rock the boat. Also I can understand why Australian miners would not want to stand up and do the right thing. The last thing these heavily hedged gold and silver miners want�and they are all heavily hedged�is higher precious metals prices. Higher metal prices just puts their hedge books further under water. Sons of Gwalia is the current poster boy for Australia on that one. If you own any stock in Australian gold companies, it’s my opinion that you are just asking for trouble.
So, while all us shareholders sit here twiddling our collective thumbs waiting for our respective gold and silver companies to say or do something�anything�we still have that countdown for the next major �event�. And believe me, it’s coming.
But as omnipotent as �the powers that be� appear, they are a long way from being able to declare victory of one world government or a one world monetary system. First of all, they have no �Plan B� if the current fiat currency system goes down the proverbial drain. What�s going on in Argentina (and Vietnam) right now is probably the thin edge of the wedge. It would be no surprise to any of now�when it becomes publicly known�that other central banks, hedge funds, high net worth individuals are accumulating gold on the sly. They�re not stupid. What they say for public consumption is quite likely diametrically opposite to what they are doing behind the scenes. Where are Rothschild and AIG right now vis a vis the LBMA? Nowhere to be found, that's where. That should tell you a lot. The stories in the press lately indicate that huge volumes of gold are being sold into Turkey, the Middle East and South East Asia.
One of the highly visible members of this high net worth power elite is Warren Buffett. How much gold he has�I don't know, but he's sitting on about ninety million ounces of silver bullion (the other thirty-five million ounces he bought is probably leased) and has the equivalent of a nineteen billion dollar short position on the U.S. dollar. Betting against Warren has always been a losing proposition. Lots of people follow Warren�s lead. I certainly do.
The �powers that be� are going to have a real problem keeping every country in the world (and their respective Central Banks) on side while they're trying to pull off all this New World Order bullshit. The vast majority of countries that are �out of the loop� on this are not going to be co-operating. On the contrary, they will do everything in their power to stop it. The �third world� countries could end all this nonsense overnight if they decided to sell their US$ reserves and buy gold. That would make the US$ worthless�and gold and silver priceless. The boys have no way of countering that.
I despise the term �third world�. These countries all got there mainly because of U.S. and British Imperialism over the last couple of hundred years. Not to be forgotten are the French, Spanish and Portuguese empires of the past. They are no longer empires, but the damage they did still lives on�and probably not forgotten. As push becomes shove in this New World Order scenario, I think that on any sign of weakness, countries on the margins will abandon this whole silly notion in favour of national or regional interests. And the opportunities for revenge against the U.S. government, the IMF and the World Bank could prove irresistible.
The other thing that �the boys� hadn�t counted on was the Internet. There are no words in any language that can convey just how much power this has placed in the hands of individuals. For the first time, anyone who wishes to see the world as it really is�can�and it’s not a pretty sight. It allows groups like GATA to thrive. What our tiny little group has accomplished (and exposed to the public) in the last six years was certainly not in the game plan of �the boys� over at the New World Order Bar & Grill.
Of course this New World Order has infinite patience, awesome power, money and a big time line. But with a financial system in ruins�! Like I said, they have no Plan B. Once the U.S. dollar caves in�then the rest of the world's currencies become suspect. I just don't think that they will be able to overcome the individual nations state�s survival instincts. Nations are made of individuals, and the ones making the decisions at that point in time will be making them for their own benefit�with one eye on what's going to be in their countries best interests. Within their own countries, the decisions made will certainly not be made by just one person while all this is going on.
We like to think that the people in these New World Order organizations are all for one, and one for all�but I wouldn�t bet the ranch on it. In a lot of respects, most of them are people like you and I�especially the people in the lower echelons of this dog and pony show. I personally know two people who have been to the Bilderberg meetings, and have had a drink with both of them in the last five years. They are wonderful men. If the New World Order crowd is counting on the likes of them�good luck!!! Neither will be selling this country (or the Province of Alberta) down the drain any time soon.
One thing is for sure though, when things blow up�and they will�it will be every man, woman, child, nation and currency for itself, as everyone scrambles for self-preservation. I don't think that �the powers that be� have thought this thing through. They might like to think they have, but I think that events will simply overwhelm them, and they�ll be picking through the financial and economic wreckage just like the rest of us.
In my opinion�David Rockefeller, Zbigniew Brzezinski, George Schultz, Henry Kissinger, Samuel Huntington and the rest of the boys at The Trilateral Commission are going to be blown out of the water. The Council on Foreign Relations will follow. But I digress�back to gold.
In interesting commentary dated August 20, 2004; Bill Buckler the proprietor at www.the-privateer.com had this to say�
�So, what is keeping the rest of the world in check? Why are they still adding to their U.S. paper "assets"? Why has nobody stopped buying, let alone started selling? There are many reasons, but here's one of them.
Please read this news item, which appeared recently on the website of the British Broadcasting Corporation (BBC). It is a report of a visit by a BBC reporter to the Federal Reserve Bank of New York, home of the "world's largest pile of Gold."
Read it? Can you spot the telling sentence? Here it is: "Most of the subterranean gold here belongs to foreign governments, although the Fed's employees are not at liberty to say exactly which."
The foreign governments own the Gold, but they don't have it, it is in the United States. In international relations as in interpersonal relations, when push REALLY comes to shove, possession is nine-tenths of the "law". Like we said, there are many reasons why the rest of the world are reluctant to upset the U.S. financial apple cart, but this is certainly one of them. End.
When everything starts to unravel, the run to hard assets in general�and gold and silver in particular�will begin in earnest. And like Ted Butler said earlier, we could see shockingly high gold and silver prices in just one day as everyone runs to the other side of the boat all at once. What Dr. Antal Fekete calls��infinite demand and zero supply��could occur almost instantly. And if you aren't in position when this starts, I can virtually guarantee you that neither you, nor anyone else, will ever get on board until prices are much much higher.
Our fiat currency system has been programmed to operate only in one direction. It does not function in a zero or negative growth environment. When this happens, either accidentally or deliberately, the whole system collapses�as every other fiat currency system before it has done. So, as my essay title says��T� Minus Ten� we could also be at �T� minus 7�or 6, or�? Whenever we hit zero�Mike Bolser�s �T*�, or 9/11 �The Sequel�, or some other non-linear financial or political event, we would all do well to remember what Bob Landis said in his essay �Fiat's Reprieve: Saving the System, 1979-1987� �
We gambol in the shadow of Debt Mountain. If the Fed were to raise the Fed funds rate even to within spitting distance of a positive real rate of interest, it would risk an avalanche of defaults, threatening economic and political upheaval. Expand the market for dollars? Get real. Just how do you expand a saturated market? The challenge now is rather to ward off blowback of the big foreign dollar float. How about rigging commodity prices? Now we're getting somewhere. Trouble is, we can�t rig them all, and we can’tkeep it up forever, even for the ones we can rig. Sooner or later, the law of supply and demand in the marketplace for real things will trump the price management effected in the markets for paper derivatives.
No, the die is cast: we shall have the catastrophe. In 1980 our fiat monetary system got a reprieve... not deliverance. All that has happened since, with the fantastic mispricing of credit the Greenspan Fed has engineered�and the massive global malinvestment this has engendered�is that the dimensions of the unraveling have become more dire.
Mises called this one too:
Certainly, the banks would be able to postpone the collapse; but nevertheless, as has been shown, the moment must eventually come when no further extension of the circulation of fiduciary media is possible. Then the catastrophe occurs, and its consequences are the worse and the reaction against the bull tendency of the market the stronger, the longer the period during which the rate of interest on loans has been below the natural rate of interest and the greater the extent to which roundabout processes of production that are not justified by the state of the capital market have been adopted.
With respect to the form the denouement will take, much has been written within the gold community on the subject of whether we face hyperinflation or deflationary depression as the prelude to monetary collapse. Both sides of the debate appear to accept the premise that whatever may transpire will bear a linear relationship to what now exists. The disagreement centers on the direction the line will go. But today's markets are fully linked by derivatives and technology, and they are patrolled by wolf packs of large, leveraged speculators not noted for their patient outlook. So it seems likely that the terminal monetary crisis will unfold on virtually an instantaneous and discontinuous basis, once the fog of statistical deceit and false market cues begins to lift and a clear trend either way becomes evident. We are not likely to enjoy the luxury of observing either a deflation or an inflation unfold in the fullness of time, but rather, just as Mises foretold, a final and total catastrophe of our fiat monetary system. All we can hope is that once the curtain falls on the current system, the wisdom in the gold bugs' submissions to the Gold Commission will finally find a receptive audience.
Amen to that
I just hope that all of us are ready for what's coming, as we've certainly had enough warning from enough people. Good luck to you all�and may The Force be with us�because the folks that run the gold and silver mines that we own stock in will most likely be nowhere in sight.
© 2004 Ed Steer
Ed Steer, Director
Gold Anti-Trust Action Committee