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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lee Lichterman III who wrote (87305)3/29/2001 12:51:04 AM
From: Ilaine  Read Replies (2) of 436258
 
Thanks, Lee. With respect to the US government defendants, my opinion remains the same. The Constitution gives Congress the power to "To coin Money, regulate the Value thereof, and of foreign Coin." At Paragraph 34, we have the gravamen of the complaint: "34. This complaint alleges manipulation of gold prices from 1994 to the present time by a conspiracy of public officials and major bullion banks. This manipulative scheme appears directed at three objectives: (1) to prevent rising gold prices from sounding a warning on U.S. inflation; (2) to prevent rising gold prices from signaling weakness in the international value of the dollar; and (3) to prevent banks and others who have funded themselves by borrowing gold at low interest rates and are thus short physical gold from suffering huge losses as a consequence of rising gold prices"

If suppressing the price of gold doesn't come within the power to regulate the value of money, I don't know what does.

As for the BIS and the other international banks, the allegations seem to be entertwined with the allegations against the Federal Reserve. Keeping gold prices down helps some, hurts some. If you are the one who got hurt, sorry.
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