Here is another. It suggests buying silver.
To: Central Banks, Secretariats, Governors, Concerned Others
Dear Associates:
The event developing today regarding the lawsuit launched by Blanchard & Co, against JP Morgan should come as no surprise to any of you. For better than a year now, since the first publication of the Monetary Protocols, we have been urging you to replenish your gold reserves which many of you have either loaned or leased to numerous bullion banks. Furthermore, we've been cautioning you that in all likelihood this gold price suppression/strong US dollar conspiracy in all probability was sanctioned, if not conceived by the US Government and their agent, the US Federal Reserve Bank, and the US Treasury's ESF group. It is widely believed that plaintiff, Blanchard & Co., will not find resolution within the US judicial system which in the past has shown extreme prejudice towards plaintiffs seeking relief for this same venue. Namely GATA's (Gold Anti-Trust Action Committee) claim was dismissed similarly, and discovery did not go forward.
Consequently, you are encouraged to seek relief and indemnification for your lost gold reserves through your own sovereign political and judicial process. Not to do otherwise in your citizen's behalf could precipitate extreme measures among your own citizenry, especially when the truth be revealed that the entire scheme had originated within the US Government and former Treasury Secretary Robert Rubin, currently at Citigroup.
Please keep us apprised as to your formative plans in this regard.
Now - the good news! With the reacquisition of your lost gold a diminishing likelihood, we urge you to turn to the next best alternative: SILVER. Bi-metallic monetary standards are not new. Croesus of Lydia is credited by Herodotus for the introduction of the first coinage in 687 Before the Common Era (BCE). During this period a ratio of 10:1 was established. Croesus took his counsel from Solon. Following the death of Croesus at the hands of the Persians, gold and silver coins have circulated as a trusted method of trade to this day.
With the current ratio of gold and silver now prevailing of about 73:1, you can clearly see that historical tradition is considerably out of balance, an event which makes for a welcomed opportunity for all of us. A central bank exhibiting a substantial balance of physical silver in its treasury could be the salvation for all of us. A lifeline, if you will. A continuance of political stability if you must.
Several significant benefits will flow to your countrymen:
The elimination of the necessity to issue more of your own domestic banknotes to acquire or support the US Dollar reducing domestic inflation, and avoiding co-ordinated US dollar support schemes.
When the gold to silver ratio returns to a more historical balance, say 20-40:1, you will have the opportunity to re-acquire some of your gold reserves on much more attractive terms from which you were duped.
The elimination of holding debt instruments (foreign currencies) as a distrusted method of safeguarding your own sovereign currencies.
A magnificent increase in trade and commerce for your people as other nations seek your payments.
There is no rush by the world's citizenry to acquire this other monetary metal - YET, but it must be so, for the historical ratio to trend more in favor of silver. You must begin now. Immediately. In 1947 the US Government had nearly 2 billion ounces of silver, but that is all gone now. Even the strategic reserve for defense is empty of all silver. In fact, for the US to even continue their silver coin program, they must now purchase 10 million ounces a year in the open market.
Some of you have already begun to do so, but we encourage all of you to repatriate your gold reserves currently in custody at the New York Federal Reserve. It must be visible and accountable to your citizens and shown to them to maintain confidence along with political and economic stability.
May you be bless by your higher power,
- - CBOM
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4:05pm 12/18/02
Blanchard sues Barrick, J.P. Morgan over gold
(JPM, ABX)By Allen Wan
cbs.marketwatch.com;
Blanchard and Co. said it has filed a $2 billion suit against Barrick Gold (ABX) and J.P. Morgan Chase (JPM) on allegations of "unlawfully combining to actively manipulate the price of gold" and making $2 billion in short-selling profits by "suppressing the price of gold at the expense of individual investors." Blanchard says it is the largest retail dealer in physical gold in the U.S. J.P. Morgan Chase shares fell 4.1 percent, while those of Barrick Gold eased 1 percent. On Tuesday, gold prices touched $343, their highest level since June 1997. Gold closed at $342.70 on Wednesday, up $4.70 on the session. A spokesman for the bank said he had just received word of the suit and would respond shortly. A spokesman for Barrick Gold couldn't be immediately reached for comment. |
