New Age History and Economics

The Day We See The Truth And Cease To Speak it, Is The Day We Begin To Die. MLK Jr.

Saturday, October 1, 2011

International Banker’s fixing price of Gold, Silver and Wall Street;

Dear brethren,

Lies being Taught;
Prices of Gold, silver and stock markets are market operated and no individuals has any role in these.

Now the truth;

International Banker’s fixing price of Gold, Silver and Wall Street; 
Quotes from the Book; "FDR- My Exploited Father-in-law" by Curtis Dull.

Pg. 72-73-74:

Hence, when I heard from Mama one morning, at 49 East 65th Street, that Mr. Baruch was coming to see Franklin, late that afternoon for an informal visit, I decided at once to be on hand, as it were, just in case I might be able to exchange a few words with the distinguished caller. This was early in January of 1933.
After a silence, he calmly said, "Mr. Dall, I think well of silver. "
For a moment, I felt floored, decidedly off-base. I managed to say, "You do, Mr. Baruch?"
"Yes", he replied, "I do! In fact, I own about 5/16ths of the world's visible supply of silver."

I struggled to come up for air, as it were, and managed to blurt out, "That certainly is a lot of silver, Mr. Baruch!"

He replied, in his strong, affirmative way, "Yes, that is a lot of silver, Mr. Dall!"
Before I could collect my scattered thoughts about "silver", Reynolds entered the room and announced, "Mr. Baruch, the Boss is waitin' to see you, upstairs, and he's mixin' up something."

Both of us then arose and shook hands cordially. Mr. Baruch entered the elevator as Reynolds held its door and departed upstairs to see FDR, where I am sure an excellent martini, made in the small, familiar shaker, was being prepared for the distinguished caller. As Mr. Baruch disappeared, I sat down abruptly to ponder the swift, unexpected turn of events. Silver! What the devil did he mean? What did I know about "silver"—almost nothing, except that it could be bought on a 10% margin.

Well, I certainly didn't do so well, I mused; I could have learned more by reading a financial column in one of the afternoon newspapers!

The measure of just how little I comprehended about that conversation was that I forgot all about it the next day.

However, a few months later, most startling news about silver did break in the press in a rather casual manner! The news about it was released over a weekend, when our financial markets were closed. In order to extend a friendly, political gesture, as it were, to our western silver mining states' Congress authorized the U.S. Treasury to double the price it would pay for silver in the open market.

Years later, when the press announced that Sir Winston Churchill had arrived in this country and was in New York visiting with Mr. Baruch before he journeyed on to the White House, bound on matters of State, I was not surprised! (As it was Mr. Bernard Baruch who ran the then US Government)

Pg. 80:

About that waste of taxpayers’ money by some subsequent White House occupants, I have often pondered. How did Harry Hopkins, who was planted to spend time there, manage to operate so successfully in a manner quite oblivious to the trusting taxpayer? Naturally, it was not an accident. There, with the help of White House "advisers", White House stationery and White House long-distance telephones, he managed to "lend" some additional $6,000,000,000 of our critical and sorely needed war materials, at the war's close, to Joe Stalin and his fellow Bolshevik! For this neat accomplishment, neither Hopkins or the U.S. ever received a word of thanks from the Soviets. Was Harry, Joe's boy?

Pg. 90:

FDR appeared quite relaxed and started to talk. He said, "Curt, we have to do something to raise the price level (of gold) before the Country can experience a recovery." He then outlined various possible ways in which he thought this could be done, including raising the price of gold. He then said to Willis and me that he was absolutely against that and "under no circumstances would I do it!"

Both Willis and I had the distinct feeling at the end of that long chat that the price level would be raised, but not in the form of raising the price of gold, thereby diluting our currency. Imagine my very great surprise when I read in a newspaper some days later that we had largely "gone off" gold. It seemed very hard for me to believe. Harder still to believe was the unconfirmed story, later on, that once a week the President, with Jesse Jones and Henry Morgenthau, Jr., would meet to determine what the price of gold would be for that week, once by shooting dice. This procedure lasted for almost a year, until the price of gold had finally advanced from $20 an ounce to over $35 an ounce. Then it was pegged there.

That wasn't a "bad" six months deal for a few international bankers to conclude on gold, was it? Twenty dollars to thirty five dollars an ounce!

Gold was taken away from Americans by inspired "legislation", except for a few limited cases, but was made available to foreigners through their banks. FDR did not initiate that particular legislation. That was ordered "from above."

Pg. 112:

For six years the stock market and other markets had been rising. Huge profits had been parlayed from modest starts by many people. Much of it was on paper. Most all the market prognosticators were still bullish and advised the market was a "buy" on important reactions. Roger Babson, a well known investment counselor, had been continually sounding a note of caution, that stocks were a "sale" on strong points. Of course, he had been wrong for a long while, but on October 24, 1929, he was more than right.

On one or two previous occasions the Panic had nearly started. Perhaps the stock market had been probed by powerful forces. Perhaps some foreign interests were getting out, first, those who sought and planned the downward readjustment of prices for profit.

Pg. 113:

As I recall it, Sir Winston Churchill appeared about 2:15 in the Visitor's Gallery as a "spectator". He was here in this country, allegedly, on what was blandly described by him as a Lecture Tour. No one on the Stock Exchange Floor, however, paid the slightest attention to him, but he got an eye full. Perhaps he had lunched with Mr. Baruch. Perhaps he had been invited to see "the show" which some feel was planned several months previously.

Pg. 115:

The main problem, as I saw it, was control over the supply of money, which controls interest rates and the call money market which, in turn, effects the broad market action of stocks, either up or down.

Pg. 116:

Others have observed that Frankfurter's trademark has been the practice of placing compliant Puppets in positions of importance within the government, willing tools who eventually formed the greatest network of agents ever to operate in this country under one man.

The yammering about the imperfections and misdoings of Wall Street soon quieted down after the ballot counting ritual of the previous November. Louis Howe, aided by important Now Deal lawyers, including my classmate, James Landis, and others, itching to flex their wings in flights over a vast new area, were busy hatching the Securities and Exchange Commission (SEC). This Commission was to effect certain needed improvements, to be sure, but in reality is directly aimed to extend Federal Government Control over much of the country's financial machinery. For awhile, no one in the investment field could even shave or have breakfast without seeking the advice of a lawyer who "knew someone" in Washington. Even then, one had to shave in the proper direction, for comfort, or go on a recommended reducing "diet."

Pg. 54-55:

The World-Money managers had figured in mid-1929 it was time to cause a change in the Administration in 1932. They saw to it that "recovery" from the Crash was delayed until after the Inauguration of their candidate, President Franklin D. Roosevelt, in 1933 to make the most profit financially and politically. Even to many amateurs, it was manifest the "drivers" of the Democratic political vehicle did not wish to cooperate with President Hoover to save many banks from failing in late 1932 and early 1933; they wanted the financial mess to deepen in severity, both for beneficial political effect starting on March 4th, and for maximum profits to accrue to insiders, in picking up desirable "pieces" at rock-bottom prices.

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