www.silverdoctors.com
Vast amounts of Chinese and Indian silver must have been in the
COMEX whirlpool before silver trading migrated to Canada after the
Silver Purchase Act of 1934 and FDR’s EO 6814 on August 9, 1934 due to
a 50% profits tax.
Today the Hong Kong Mercantile Exchange has the usual names found at its site—Bache, Warburg, Morgan, HSBC; and Rothschild in the background.
Submitted by Charles Savoie,
Silver-Investor.com
In “The Double Whammy of Geopolitical Gold Games reposted in February 2013 (from January 31, 2008) by Antal Fekete
http://www.24hgold.com/english/news-gold-silver
he stated some errors of fact! Marco Polo, guide us on this excursion
to China! Bruce Lee, help our reflexes to be as fast as yours! May we
not be slap happy like Jackie Chan! Wo Fat, do not mislead us! Antal
mentioned China’s silver money system going back to the 16
th century, then stated—
“
CHINA’S EXTERNAL TRADE WAS INSIGNIFICANT,
but the volume of silver currency for domestic use must have been
enormous. There was an avalanche of silver from abroad raining on
China.”
China’s external trade was insignificant? Where
did they get the silver from for their silver system? Primarily from
mines in Mexico and Peru; probably 85% of it or more. Some also came
from the Iwami Ginzan silver mine in Japan which operated for 397
years. He says there was an avalanche of silver from abroad raining on
China. Why should other nations send enormous volumes of silver to
China? What would their motive be, something for nothing? Resolving
this we find Mister Fekete in serious error claiming that “China’s
external trade was insignificant.”
At
http://afe.easia.columbia.edu/china (visit the page, read the article) we find mention (16
th to 19
th centuries) of China’s—
“STAGGERINGLY LARGE EXPORT SECTOR”
Export
of silks, spices, artistic porcelain, jade carvings, tea, rice and
other trade goods was paid for by Europe and Britain in silver.
Insignificant and staggeringly large don’t reconcile; one of them is
wrong; Fekete is wide of the mark. Why don’t people check for
certification before making claims? Before the silver mines of Mexico
and Peru opened and large amounts of silver flowed to Spain, England
and Europe, China had copper and bronze coins, and its own paper
currency debacle.
Fekete rolled his
off balance dice again—
“As far as it is known,
SILVER NEVER FIGURED IN CHINA’S EXPORTS
(except re-exporting foreign-owned refined silver). China is the only
country in the world that has consistently run trade surpluses since
1950.
WHY SHOULD THE CHINESE EXPORT SILVER, WHEN THEY COULD EXPORT ALMOST ANYTHING ELSE?”
Gee! We already saw that Chinese trade goods were paid for in
silver; we’ll see more of this as we progress. Silver was most of what
China used to pay for imported goods over a multi-century span, after
they had accumulated meaningful stores of silver; their silver system
ran from sometime in the year 1571 when it started out on a smaller
scale to an official end on November 3, 1935. The New York Times,
November 4, 1935, speaking of China going off the silver standard, said—
“Banknotes
issued by the government owned Central Bank of China become legal
tender—debts payable in silver may be settled in the new legal tender
and all holders of silver must surrender it to the Central Bank and
accept notes in exchange at face value.”
First China had to
accumulate silver in exchange for goods they had to offer, which they
did; secondly, they were able to use silver acquired for exports to pay
for imported goods.
Here’s some historical data on the silver for
opium business the British were leaders of (some Americans like the
very dirty fur trader, central banker and real estate magnate John
Jacob Astor, and French were involved) —
http://en.wikipedia.org/wiki/Opium_Wars
“In
1729, its import was 200 chests, and by 1790 it amounted to over 4,000
chests (256 tons) annually. In 1858, about twenty years after the first
opium war, the annual import rose to 70,000 chests (4,480 tons).”
Next we see
http://piperbayard.files.wordpress.com/2011/06/opium-chests.jpeg —
It seems incredible that Fekete didn’t mention the British opium
“trade” run out of British India, which was a scheme the British
hatched to “recover” British silver, and silver paid to China by other
nations. Speaking of the early 18
th century
http://afe.easia.columbia.edu/main —
“Western
nations are experiencing an outflow of silver bullion to China as a
result of the imbalance of trade in China’s favor, and they bring opium
into China as a commodity to trade to reverse the flow of silver.”
China
banned opium in 1726, but that was some 35 years before the British
East India Company, with a charter from the Crown, undertook to
initiate mass exportation of opium into China. Opium addiction soon
spread to other areas of China as more ports opened to trade with
Westerners. Imports of opium rose from 15 tons in 1730 to over 75 tons
in 1773
http://yubanet.com/regional/The-Rise-of-the-Opium-Trade which also mentions—
“By 1830-31, the number of chests of opium brought into China
increased fourfold to 18,956 chests. In 1836, the figure exceeded
30,000 chests. In financial terms, trade figures made available by both
the British and Chinese governments showed that between 1829-1840, a
total of 7 million silver dollars entered China,
WHILE 56 MILLION SILVER DOLLARS WERE SUCKED OUT BY THE SOARING OPIUM TRADE.
Opium once supported the economies of several nations and that Britain
in particular was responsible for the enslavement of millions of
Chinese through their addiction to opium. It’s hard to imagine that not
one, but two wars were fought to force a sovereign nation to open its
ports to accept opium. In one of the more shameful episodes of the
British Empire,
opium was used to balance their trade deficit with China
– regardless of the human toll caused by their imports. The Emperor did
not want European goods in exchange for tea, porcelain, silks and
spices that the English imported from China. The only form of trade
that China would accept was silver; but because Britain operated on the
gold standard, they had to buy silver on the open market at great
expense. This created a trade imbalance that was heavily weighted
toward the Chinese. One of the largest opium traders of the day was
Jardine-Matheson, a company still in existence today.”
This huge
conglomerate is today a $60 billion + annual enterprise in luxury
hotels, supermarkets, real estate, auto parts, financial services and
other sectors. The company has an impressive skyscraper in Hong Kong.
It’s controlled by various Pilgrims Society dynasties—the Keswicks,
Sassoons, Rothschilds and Warburgs of Federal Reserve fame. The
Sassoons were originally opium dealers from medieval Persia who linked
by marriage to the Rothschilds. It has banking relationships with the
old Hong Kong & Shanghai Banking Corporation—now known as HSBC, a
top tier global banking powerhouse whose U.S. subsidiary has been
listed on the roster of the Silver Users Association! The Jardine
emblem, by God, is that of an opium poppy!
According to
John Francis Davis in “The Chinese—A General Description of the Empire
of China and its Inhabitants” (London, 1857), page 24—
“The rapid growth of the trade in opium, and the
CONTINUED DRAIN OF SILVER, have greatly alarmed the government.”
The
New York Daily News, October 15, 1858 made reference to the
“Parliamentary Blue Book” which claimed that British export-import
trade with just the two cities of Canton and Shanghai, for the years
1844 through 1856, amounted to more than 437,700,000 pounds sterling, a
truly fantastic sum on the part of certain antecedents of founders of
The Pilgrims Society of Great Britain, who are the paper money cartel!
British opium exports into China peaked in 1880 with 105,580 chests! An
opium chest weighed 150 pounds according to the aggressively bigoted
http://www.victorianweb.org/history/empire/opiumwars
None of these figures are as verifiable as the silver Mr. XYZ investor
has in his personal vault; but then, only he can verify it and that’s
as it should be. The point is, however, there was
AN ENORMOUS DELETION OF SILVER FROM CHINA due to the opium trade. Chinese called opium the “heavenly demon.”
With
typical tea and crumpets British arrogance, the terms of the Treaty of
Tientsin after the second opium war included China allowing foreign
missionaries in the country for purposes of “converting the heathen
Chinese;” more likely, peddling more dope!
The Chinese
eventually took large scale action against the “traders;” this led to
the “gunboat diplomacy” of the Opium Wars (1839-1842 and 1856-1860)
under which the British, who remain as of 2013 of the persuasion that
their destiny is to rule the world through the United Nations
organization, got control of Hong Kong.
From the University of Wisconsin Press
http://homepages.uwp.edu/boute001/secondpage.html we note—
“The main catalyst for this downfall of the economy was
THE LOSS OF SILVER TO BRITAIN.
In 1839, Lin sent a memorial to the Emperor that explained the amount
of taels spent on opium, an estimated 100 million annually. The Qing
government functioned on annual revenue of approximately 40 million
taels; this demonstrates the extreme amounts of silver leaving China.
The Qing treasury took an enormous hit from the opium trade. In 1793,
it contained roughly 70 million taels of silver. By the year 1820, the
treasury was reduced to a mere 10 million taels of silver. This large
export of Chinese silver and depletion of the Qing reserves ballooned
the exchange rate.
GREAT AMOUNTS OF SILVER FLOODED OUT OF THE EMPIRE TO PAY FOR THE FOREIGN DRUG.”
Apart
from wanting the world to be poor so as to be in control of the globe,
the power crazed British wanted the silver back so as to have hard
currency to pay troops in wartime, and Britain—not Germany— is easily
history’s leading warmonger. In “The Opium Trade,” which appeared in
Merchants Magazine & Commercial Review, New York, August 1850
(pages 147-159) in particular we see in reference to China—
“…a heavy drain of silver—the
VAST QUANTITY OF SILVER THAT LEFT THE TERRITORY to pay for opium.”
According to John Francis Davis in “The Chinese—A General
Description of the Empire of China and its Inhabitants” (London, 1857),
page 24—
“The rapid growth of the trade in opium, and the continued drain of silver, have greatly alarmed the government.”
It’s well established that British “merchants” forced Chinese into opium addiction at gunpoint—
The Bombay Telegraph & Courier for May 17, 1852 remarked—
“We
sell them opium, whereby sooner or later they destroy themselves. As an
article of commerce opium stands out without a parallel. From the
skilful management and cultivation of about 100,000 acres of land, the
East India Company produces an article which, sold at a profit of
several hundred per cent, yields to them net revenue annually, of
nearly three millions sterling. We do not here include the Malwa opium,
seventh of the whole revenue of the country, raised from an extent of
more than a million of square miles. From the transport of this drug by
a few vessels named opium clippers, a few mercantile houses are also
realizing magnificent profits, while the Chinese themselves, the grand
consumers of the drug, part with five or six millions pounds sterling
per annum. The most astounding fact of the opium trade needs yet to be
specified, that Christian sensibilities have not yet been adequately
roused in relation to its iniquities and horrors.
That a professedly
Christian government should, by its sole authority and on its sole
responsibility, produce a drug which is not only contraband, but
essentially detrimental to the best interests of humanity; that it
should annually receive into its treasury crores of rupees, which, if
they cannot, save by a too licentious figure, be termed the price of
blood, yet are demonstrably the price of the physical waste, the social
wretchedness and moral destruction of the Chinese; and yet that no
sustained remonstrances from the press, secular or spiritual, nor from
society, should issue forth against, the unrighteous system, is surely
an astonishing fact in the history of our Christian ethics. This fact
can, however, be easily explained. There is a prestige about this great
trade which serves to hide its intrinsic repulsiveness. On the
principle whereby the slayer of an individual is execrated as a
murderer, and the slayer of ten thousand is treated as a hero and half
deified, we can understand how a trade, which, if carried on by one or
two of the baser sort, would be denounced as smuggling and piracy, is
divested of its illegal and immoral characteristics by the patronage
which emblazons it, the numbers connected with it, the immense capital
embarked in its prosecution, the glittering private fortunes realized
by it, and more than all, the immense addition to government finances.
We find it very difficult to entertain the idea that a traffic whose
mainspring is in government regulations, whose affairs are conducted by
government officials, whose sales are in the flush of day, at public
auctions in a city of palaces, whose dealers are princely merchants;
which employs as its transports splendid clippers, whose commanders are
educated men, and, still more,
WHOSE RETURN FREIGHTS ARE SOLID, WEIGHTY SILVER;
and, to crown the whole, whose operations from beginning to end are
sanctioned by the explicit enactments of the Imperial Parliament, can
best we dare venture to say it may be demonstrated to be commercially
suicidal, politically inexpedient, nationally dangerous, judicially
contrary to the law of nations, ethically unjust, and, in relation to
that God who desires mercy and not sacrifice, wholly iniquitous and
abominable.”
Let’s evaluate some possible statistics based on the figures referenced in the Bombay Telegraph—
5
or 6 million pounds Sterling = 60 to 72 million ounces x Sterling
conversion factor of .925 = 55.5 to 66.6 million ounces per year x how
many years? Over a period of just under 16 and one half years (until
the opium trade allegedly eased off), at an average silver outflow of
61 million ounces per annum, gives the figure of over 1 billion ounces!
Certainly the rate of silver lost from China because of opium would not
have been constant, but then the opium trade was ongoing for over two
generations as of 1852, and it positively extended on a large scale
past 1870. The year 1881 is referenced here
http://www.sycee-on-line.com/Opium_tax.htm in regard to opium taxes payable in silver and 20 years later we still find—
The Boxer Protocol of September 1901
http://en.wikipedia.org/wiki/Boxer_Protocol resulted from China again being invaded by Westerners who imposed reparations on them—
“450
million taels of silver were to be paid as indemnity over a course of
39 years to the eight nations involved. Under the exchange rates at the
time, 450 million taels was equal to US$ 335 million gold dollars or
£67
million, approximately equal to US$6.653 billion today. The Chinese
paid the indemnity in gold on a rising scale with a 4% interest charge
until the debt was amortized on December 31, 1940.”
Part of the reparations from the second opium war that ended in 1860
http://www.chinaknowledge.de/History
was forfeiture of 16 million silver bars (“taels.”) A measure of
weight, the tael varied. The Canton tael was 37.5 grams (1.20565oz
troy) whereas the Shanghai tael was 33.9 grams (1.08991oz). The thrifty
British would not have missed the trick of holding China to heavier
silver taels. By way of flashback in this chronology, the site
mentioned the 1830’s—
“The export of tea, silk and chinaware was
not able to cover the costs for opium imports: the Chinese trade
balance tended negative, silver money left the country. The economical
impact of the Opium Wars and the penetration of the Western powers in
the Chinese trade system was mainly seen in currency problems. The huge
amount of opium import could not be balanced by an equal amount of
exports of Chinese goods. According to the treaties, China had to pay
tens of millions of silver Dollars as war damage reparations to the
Western powers. China’s trade balance was critically endangered by
these facts, and moreover by an inflation of the silver currency
against the gold standard that was adopted by the Western countries.”
I
sincerely hope we’ve answered Fekete’s question, “Why should the
Chinese export silver, when they could export almost anything else?”
Drug addicts will do anything to get a fix; and silver was the only
payment the British accepted! However, there’s another reason totally
apart from opium as to why China should export silver since the Maoist
takeover; we’ll cover this also, with documentation.
Sucking silver out of China, pushing opium over there!
Demonetize silver in America, Rothschild’s a billionaire!
Let all the world’s little people sink into despair!
We’re the world’s bankers, you’re in our crosshair!
This
film from 1934 is of interest, as is the fact of a Rothschild being on
the governing board of the silver trading New York Commodity Exchange
(New York Times, July 5, 1933, page 27). No question vast amounts of
Chinese and Indian silver must have been in the COMEX whirlpool before
silver trading migrated to Canada after the Silver Purchase Act of 1934
and FDR’s EO 6814 on August 9, 1934 due to a 50% profits tax. Today the
Hong Kong Mercantile Exchange has the usual names found at its
site—Bache, Warburg, Morgan, HSBC; and Rothschild in the background.
http://www.rothschild.com/china-japan-korea/
the Rothschilds established a presence in China in 1838, and again in
1953 less than 4 years after the Red takeover. See the image of the
silver bar cast with Chinese lettering, at this page!
http://en.wikipedia.org/wiki/Franco
Franco Bernabe, chairman of Telecom Italia, is a director of Petro
China (552,810 employees) and is vice chairman of Rothschild Europe.
We won’t cover details of the Latin Monetary Union except to note
that as of 1870, only Britain wasn’t on a silver standard. But, with
British subversion ever attacking silver, in 1871-1872 a series of
European nations demonetized silver. One excuse was that the Papal
States debased silver coins and exchanged them elsewhere in the
continent for standard silver coins. To amend Fekete’s statement about
silver being rained down on China; more correctly, China was a silver
sponge that Britain and Europe first exported silver to; then
recaptured much of it by turning tens of millions of Chinese into opium
addicts at gunpoint; then China was hit by recurring waves of silver
demonetization, 1871-1878; it’s highly likely that after the Spanish
American War of 1896 when we took over administration of the Philippine
Islands, that Philippine silver started being dumped on world markets,
especially since Charles Conant, a highly placed man, advised the
Philippines to “go cold” on its circulating silver money
http://www.silverbearcafe.com/private/01.11/silverstealers.html
; and before that silver already took another hit from New York banks
who boycotted Morgan dollars in 1878; then in 1920, the British debased
their own silver coins from .925 to .500, and dumped a flood of silver
onto the Shanghai market, seriously shrinking prices. In “Silver At The
Crossroads,” Mining Congress Journal, February 1947, pages 85-86 we see—
“The effect of this unfortunate move was to
REDUCE THE WORLD PRICE OF SILVER BY AT LEAST 50 PERCENT within a period of about a year.
THE SHANGHAI SILVER MARKET WAS SWAMPED WITH BRITISH SILVER. Auction sales of silver followed which had a far-reaching effect upon the economy of China, then on a silver standard.
THE MOMENTUM OF THE PRICE DECLINE THAT ENSUED CARRIED THE WORLD PRICE TO AN ALL TIME LOW OF 24.5 CENTS PER OUNCE.”
The all time low wasn’t 25 cents as Fekete says in 1932; it was 24.5
cents and occurred in February 1931. Silver may have even pushed lower
than this! See Commercial & Financial Chronicle, New York, February
14, 1931, page 1136; the British Valentine’s Day gift to silver was a
nightmare from hell. Nevada Senator Pittman also referenced the all
time low silver price as 24.5 cents at a speech in Denver at the Metals
Mining Convention (Mining Congress Journal, February 1937, start page
38). The next huge hit to silver, and larger still, was when Britain
demonetized Indian silver in 1926 and commenced dumping melted silver
rupees on world markets, especially China, by 1928. The New York
Evening Sun, August 6, 1926 reported that world silver markets plunged
into panic on news on England’s intent to dump 400 million ounces onto
world markets! By early 1930 China was suffering terribly due to the
British attack against silver. The China Weekly Review (Shanghai)
January 11, 1930, page 200 reported—
“The entire business machinery of China is in chaos.”
Chinese
export trade was devastated by the drop in the silver price; then,
pretending to come to silver’s rescue, in summer 1934 Congress passed
the Silver Purchase Act of June 19, 1934 (it did help Western states
mining interests) which had the larger outcome of sucking so much
silver out of China in alarming quantities, that the Commercial &
Financial Chronicle, April 13, 1935, page 2453, said the loss
“disrupted China’s entire monetary system.” The C & FC, May 18,
1935, page 3307 stated—
“The Chinese Ministry of Finance said on May 12 from Shanghai, that the
silver purchasing policy of the United States is causing a severe drain
on China’s silver reserves and a sharp contraction of the nation’s
currency and credit.”
In the Commercial & Financial Chronicle, March 23, 1940, we note
on page 1859, in testimony of Secretary of the Treasury Henry
Morgenthau Jr. before the Senate Committee on Banking and Currency on
March 19, 1940 —
“As you know, the Treasury has made special
arrangements with various foreign countries relating to the purchase of
silver. The first and most important of such arrangements was made with
China. In June 1936 and from time to time thereafter the Treasury
entered into arrangements with China pursuant to which it acquired
approximately 565,855,000 ounces of Chinese silver.”
Over a 46 month period—all of it
AFTER China hemorrhaged so much silver that it was shoved off its silver standard—the United States Treasury continued
TO VORTEX ANOTHER HALF BILLION PLUS OUNCES
of the element with 61 neutrons out of China. This was also referenced
in China Weekly Review, January 15, 1938, page 183, “Huge Sales of
Silver Under Kung-Morgenthau Agreement.” Before this period, the
Treasury during 1935 absorbed 494MOZ from foreign sources, and we are
fair to assume this was predominantly Chinese silver (Mining Congress
Journal, December 1943, page 22). In the first 36 months after the
Silver Purchase Act of 1934, the Treasury took in from all sources a
per annum average of 426,892,333 fine ounces (Mining Congress Journal,
November 1937, page 45). That’s an average of 179,316,333 ounces more
than world production of 247.576MOZ in 1936. Another point— according
to Frank Fetter in “China And the Flow of Silver” (Geographical Review,
New York, January 1936) page 40—
“Shanghai stocks of silver reached an all time high of 449,840,000 ounces in June 1934.”
The Shanghai was China’s largest silver market; the peak figure for its hoards of silver was
LESS THAN 80%
of the 19,409 tons of silver (565.855MOZ) referenced by Morgenthau that
he sucked from China in just ONE particular episode he became specific
about! Frank Fetter of the anti-silver money American Economic
Association (secretary-treasurer 1901-1906, president 1912) and held
professorships at such Pilgrims Society universities as Cornell,
Stanford and Princeton, received a Guggenheim fellowship (grant) in
1937-1938 and was an “economic advisor” to the Central Bank of Ecuador
in 1940; with the Lend-Lease Administration in 1943-1944 then with the
State Department till 1946. Fetter was also a member of the American
Commission of Financial Advisors, a banker front through which he had
direct dealings with China in 1929, possibly touring its silver vaults.
If we could know roughly how much silver— (in Indian crores, Chinese
taels and sycee—bullion bars shaped like a boat— or any other
measurement) was drained out of China by Hong Kong & Shanghai bank
from the close of the second Opium War to the end of 1935, it would be
very revealing. Fetter was a member of the elite Cosmos Club in D.C.,
facilitating discreet meetings of politicians with Wall Streeters. See
Fetter in Who’s Who, 1947, page 751.
H.H. Kung was an agent of
the Anglo-American bankers who became Finance Minister of China,
1933-1944. In 1935 he declared private ownership of silver officially
illegal (so as to be able to export more to the U.S. Treasury) and he
started issuing the “pinyin” paper note; the word means “legal tender.”
The British-American financiers, who formally organized themselves into
“The Pilgrims Society” in 1902-1903 for world monetary cartelization,
literally played silver ping-pong ball with China for generations!
There was nothing wrong with Britain and Europe originally paying for
Chinese exports with silver. Certainly however the opium addiction
stratagem for recovering silver from China, with probably over 100
million Chinese over the years suffering the torments of the damned and
passing away early because of it, was as immoral as “business” gets.
For long periods, the Anglo-American financiers sucked immense volumes
of silver out of China; then suddenly dumped titanic amounts,
whipsawing their silver system; then finally, sucking silver out of
China again with the Silver Purchase Act of 1934 and still later, by
other means, which we shall touch on with documentation, unlike
professor (?) Fekete. I don’t get the validity of scholarship without
documentation! Neither should you! They destabilized silver in China by
wicked intent!
There was a “popularity champ” I knew in
high school who insisted that Greenland was a Canadian province; that
it was larger than Brazil; and that George Wallace was governor of
Georgia. I countered that Denmark owned Greenland; that it equals less
than a third Brazil’s territory and that Wallace was governor of
Alabama. The onlookers sided with the popular fellow and dismissed my
counter claims due to mere personality issues. He was a football player
and I was not! And did I ever get looks of condemnation! One of his
pals even showed me a world map depicting Greenland as larger than
Brazil (many maps show this distortion!) I sincerely hope, friends,
that documentation matters more to you than the cult of metals
personalities. Greenland became quasi-independent in 1979 but when I
had the dispute in 1971 I was 100% correct. I hope being correct in
this presentation doesn’t get me exiled like the Dalai Lama due to
irrational popularity issues.
The World Monetary
Conference in London in 1933 allowed the British to continue dumping
silver out of India over a four year span into 1937 at an average rate
35 million ounces per annum (New York Times, Sunday, July 23, 1933,
page 16, “Text of Silver Treaty Concluded at London.”) The vast
majority of that undoubtedly arrived in United States Treasury vaults
due to the Silver Purchase Act and would not necessarily have been
trans-shipped from China. The back and forth actions in silver against
China used by Britain and later greatly assisted by their “Pilgrim
Partners,” the soulless American financiers and their subalterns in
government, had the desired effect of forcing China and the entire Far
East, including India, off silver money systems. The Anglo-Americans
dragged the world to full fiat! The Mining Congress Journal, February
1957, page 114 attributed the second World War and the fall of China to
Communism to the British/American refusal to restore silver as a
monetary medium in world trade. The object of the Silver Purchase Act
of 1934, from these conspirators viewpoint, was to concentrate into
Treasury vaults the single largest stockpile of silver in history,
which they intended to use for global price management objectives; this
worked magnificently until just after the start of the new millennium.
Fekete
tells us “the Chinese central bank had to take all the silver offered
to it…this situation lasted right up to 1949 when the Communists took
over. Several Western historians blame the Communist victory on the
unprecedented silver inflation that Western governments inflicted on
the Chinese economy by their insane silver dumping policy before World
War II.”
How does this claim on Fekete’s part square with
the facts? Could an alligator snapping turtle wake him up? His
presentation contained not one documented reference (zero); the reader
is just expected to take his word for everything he says, because he
wraps himself in the aura of an alleged authority with titles like
doctor and professor and is cited by sites and suit and tie groups who
organize metals conferences; yet, certain of his key points are
demonstrably incorrect as documented in the public record. Please
REFER TO HIS DISCLAIMER
at the end of his opinion piece! It’s damn unlikely the Chinese “had to
take all the silver offered” when the United States Treasury was
sucking in at least hundreds of millions of ounces of silver annually,
and I do mean stoutly beyond then current mining output.
This reminds me of another “expert” who on January 27, 2010, at
http://news.silverseek.com/SilverSeek/
told readers, apparently with no research background, that “silver was
never made illegal to own.” On January 27, 2010, I contacted SilverSeek
with a correction to this well intending fellow who is by now widely
read on the silver subject. His incorrect statement was made against a
background of expertise in an entirely unrelated field (fallacy of
erroneous appeal to authority). The error was promptly corrected, but
could I get mention as supplying the correction? Of course not, because
many arbitrarily excluded me from the metals community’s panel of
experts, notwithstanding the fact that I’ve presented far more silver
historical research—all documented and cross-referenced— than anyone
else see
http://www.silver-investor.com/archives/index.html and
http://silverstealers.net/tss.html and
www.nosilvernationalization.org
The fact that prominent metals longs haven’t mentioned The Pilgrims
Society as being the central threat to precious metals investments is
simply because of absence of awareness. Please don’t fall for the “ad
populum” fallacy; that is since someone isn’t mentioned by this or that
commentator, site or organization, that therefore, findings presented
are unimportant. The error of fact at Silver Seek was at any rate
promptly corrected after the site operators notified the gentleman of
his mistake. Now to return to Fekete’s errors; he butted heads several
years ago with Jason Hommel and came out poorly as Jason said
http://silverstockreport.com/2009/free-market-hindered.html
“Antal is living in a fantasy land.”
To which I may ask by way of addenda—
“In an Antal Fekete deal, do you get to ha ha ha?”
To
be certain, we have no way of knowing exactly how much silver flowed
into China for export purchases by Colonial powers from circa 1560-1571
to the start of the opium trade; and we cannot be certain how much
silver that vile business removed from China; but we do know the amount
removed was colossal and may have reduced China’s silver holdings by
over half; we also know that substantially more silver was raked into
the United States Treasury via the 1934 Silver Purchase Act, than the
amount of silver the British conspirators dumped out of India. One of
today’s titans of world banking, HSBC, was built on the opium business.
We also can’t be certain how much silver dumped by European nations
beginning at the start of the 1870’s ended up in old Cathay, the
archaic Western term for China. In the 1920 event, Britain dumped 70MOZ
silver that came from debasing its coins from .925 to .500 under Sir
Austen Chamberlain, Pilgrims Society (The Times, London, January 15,
1931, page 18). It was in any case far overreached by Treasury
absorption of silver off the world market less than a generation later.
Fekete is correct that significant amounts of silver have been smelted
in China and returned as bullion to Western sources; this transpired
well past the year he mentioned (1950.) But before any Chinese
refineries engaged in this, he asks—
“Why should the Chinese export silver, when they could export almost anything else?”
Was
this question asked to achieve misdirection, or just out of lack of
perception of the big picture? Why would China export silver after the
Red takeover in 1949? One of the most likely reasons would be to
acquire military technology. Western bankers panting obsession to
suppress silver was and remains so great that they’d export weapons
technology to have silver to feed to industrial users to hold prices
low so as to suggest innate value to the paper banknotes they inject,
like viruses, into the economy. Fekete admits that—
“China’s primitive economy under Mao was in no position to put that silver to industrial use.”
Didn’t he answer his own question as to why China would export
silver? This was 1950 to roughly at least the late 1960’s, that the
best export the West would accept from China was silver itself; for
purposes of Western assistance to industrialize and acquire military
tech! Another wave of silver exports from China, as in leasing, seems
to have commenced in 1999. As silver leasing has never been a publicly
accountable activity, other episodes are likely to have transpired.
Silver exports from China to the West since 1950 aren’t the easiest
thing to document, but they took place and varied from the Red takeover
to just after Y2K.
For documentation, in The Economist (London), September 16, 1961, page 1097, we find—
“China
is expected to sell about 40 million ounces of silver in western
markets this year. These sales have delayed considerably the expected
exhaustion of “free” silver held by the United States Treasury. Under
an Act of 1946, the United States Treasury can sell non-monetized
silver at a price of not less than 90.5 cents a troy ounce, but only to
American users. For many years, production of silver has fallen far
short of demand, but the gap has been filled by demonetizing coinage
and, to a certain extent, by sales of Russian silver. It is one of the
impenetrable mysteries of the East how much more silver China has to
sell, in what form it is held and where it originated. China produces
little or no silver, but as in most Eastern countries large quantities
of silver would formerly have been distributed among its population in
one form or another. The cause of the urgent sales at a time when many
are forecasting a significant rise in the price of silver is obviously
China’s pressing need for currency with which to pay for its increased
imports, particularly of grain, from the West.”
For
cross-referencing, in the Wall Street Journal, November 29, 1961, page
3, under a subtitle paragraph, “Red China Could Affect Market,” we read—
“One mining executive noted that a big factor in the market could be
Red China, which is estimated to have sold at least 40 million ounces
of silver in world markets in the first 10 months of this year. A
spokesman for Handy & Harman, silver fabricators, asserted—”There
will be no shortage of silver.”
In 1965 President Johnson
formed the President’s Special Committee to Study East-West Trade,
naming among others to this panel, Charles Englehard of Englehard
Industries and the Silver Users Association (Who’s Who, 1971, page
667). No surprise; in 1960 Englehard was national co-chairman of
Businessmen for Kennedy/Johnson. He was chairman of Englehard
Industries as of 1953 and as of 1971 a director of Rand Mines
(Johannesburg, South Africa); International Silver Company (sterling
tableware sets); Hudson Bay Mining & Smelting; American South
African Investment Company (gold); National Newark & Essex Banking;
Prudential Insurance (listed a few years ago in the Silver Users
Association); and others. He was a commissioner of the Port of New York
Authority and was a trustee or director of Committee for Economic
Development; U.S. Committee for Refugees; American Museum of
Immigration; John F. Kennedy Memorial Library; American Heritage
Foundation; Eleanor Roosevelt Memorial Foundation; Atlantic Council;
Foreign Policy Association. His office was at 113 Astor Street in
Newark, New Jersey. Englehard was literally bristling with connections
overseas, especially with China, and showed extraordinary interest in
foreign policy. Even his office location suggested interest in China,
silver and paper money! John Jacob Astor was part of the opium trade;
he was the main domestic power in the second United States Bank
(1816-1836) and he was a silver manipulator. The Delanos, Roosevelts
and others were up to their necks in opium! Englehard, who was the
inspiration for the “Goldfinger” character in the James Bond film, died
in 1971. His wife Jane was born in Qingdao, China; their daughter Sally
has been a major Democrat campaign funder (more silver users
influence!) Englehard perennially issued bearish statements about
silver to damage longs.
Englehard was a director of
Eurofund, set up by Pilgrims Society member James Russell Forgan of 45
Wall Street, who had strong ties to the silver using Du Ponts (Pilgrims
Society). Fay, author of an attack on the Hunt silver play (see below)
also said that Charles Englehard imparted a “buccaneering” spirit to
Englehard Corporation! With his involvement in the East-West concept,
Englehard must have been thinking about raids on Fu Manchu’s last
silver! I’m glad I have some Englehard silver, rather than his sorry
hide, in storage!
Again as to Chinese silver exports the Wall Street Journal, May 22, 1967, page 4 had this to say—
“Typical
of the relative unconcern shown by most large scale users in the U.S.
was International Silver Company, Meriden, Connecticut, which said it
doesn’t expect to ever see a time when there’s insufficient silver to
meet our needs. An official noted that there are “staggering amounts of
silver above ground in the hands of hoarders and others and this will
become available when the price moves up.” The halting of sales of
government owned silver overseas is expected to work a serious hardship
on purchasers in Britain and Japan, and may possibly draw Red China
into the world silver market as a major supplier. Some observers claim
soaring prices may draw Red China—until a few years ago, a leading
contributor to the world market—back into the picture.
CHINA IN RECENT YEARS HAS APPEARED TO IGNORE CONSIDERATIONS OF PRICE,
offering metal for sale in the West as a means of securing foreign
exchange or as a political tool to influence neutral countries.”
The
Wall Street Journal can be trusted to not mention crucial facts, such
as China trading silver for U.S. technology; that’s why China would
“ignore considerations of price” and why they’d export silver versus
other things, Western bankers wanted it for price suppression! At
http://isbndb.com/d/book/selling_technology_to_china.html
prepared for members of the National Council for U.S./China Trade, we
see technological transfer to China. No, I can’t show you direct
references to China trading silver for technology. Sensitive info is
tough to come by! But it seems inevitable to have happened often and on
a large scale. Chairing the NCUSCT as of 1975 was a Pilgrims Society
member with many globalist connections— William A. Hewitt, who married
into the John Deere agricultural machinery fortune, who was also a
member of the visiting committee of Harvard University’s East Asian
Studies department. He was a director of Continental Illinois Bank,
which had connections to the Chicago Board of Trade; the bank was
mentioned by Stephen Fay (1982) in “Beyond Greed—The Hunt Family’s Bold
Attempt to Corner the Silver Market.” Hewitt was also a director of the
U.S./U.S.S.R. Trade & Economic Council (Who’s Who, 1979, page 1483)—
In 1957 the Pugwash Conferences were established by Cyrus Eaton Sr.,
a Rockefeller family associate, named after his home at Pugwash, Nova
Scotia. At
http://www.pugwash.org/about.htm
they say they’re interested in disarmament issues; but the Carnegie
Endowment for International Peace is known as a warmongering entity. I
believe Pugwash has been used as a vehicle for transferring military
technology to China in exchange for hard silver. A look at the 2002
participants at the Pugwash Conference is an eyebrow raiser; including
mainland Chinese
http://www.pugwash.org/reports/pic
The Rockefeller Brothers Fund and the Carnegie Corporation are key
sponsors of the Pugwash Conferences. In other words—silver price
suppressors! Also supporting Pugwash events is the Cyrus Eaton
Foundation, in the Rockefeller Building at Cleveland, Ohio.
There is currently a Pakistani retired General in Pugwash management; Pakistan is allied with China
http://www.pugwash.org/organization/council.htm
The
Trilateral Commission, a Pilgrims Society subsidiary/front
organization, has been heavily interested in U.S./China trade see
http://www.trilateral.org/download/doc/east_west_trade_crossroads.pdfdated
1982 with anti-monetary silver activist Robert V. Roosa
(Harriman/Rockefeller interests) of 59 Wall Street (Pilgrims Society).
It’s likely the deindustrialization of America, with the huge
manufacturing shift to China, was handled by the Trilaterals, under
David Rockefeller’s supervision.
The East-West Center (founded in
1960) at the University of Hawaii recently saw appointments to its
board by former Secretary of State Clinton
http://www.eastwestcenter.org/news-center/
who is a close flunky of major gold suppressor David Rockefeller.
Silver is a major reason why our elites are so active in maintaining
organizations linking us to China; and the Governor of the People’s
Bank of China, Zhou Xiaochuan, is a “former” member of Rockefeller’s
Trilateral Commission (noted member as of 2003). I admit disappointment
reading Ted Butler, in a letter to Xiaochuan,
http://www.investmentrarities.com/ted_butler_comentary05-24-04.shtml telling him (
IF he read the letter) —
“It
has been reported that your bank has sold or leased more than 300
million ounces of silver, since 1999. I know that your Bank’s silver
sales were not done with your full knowledge or approval.”
Disappointment,
because the realists among us grasped very early on that there is a
monumental “fix” in against silver, with governments around the world
and all their regulatory agencies, legislatures and courts! The head of
the bank was unaware of its silver leasing? No chance, Ted. And no way
at any nanosecond of its existence since 1975 was the CFTC or anyone in
it ever going to allow silver longs an even set of rules! Gensler is as
bizarre as the Irish demon in “Rawhead Rex” (1986).
In his May 24, 2004 article on China and the commercial Comex silver shorts
http://www.investmentrarities.com/ted_butler Butler said most of silver to satisfy deficit since 1999 comes from China; in other posts he mentioned the AIG involvement
http://www.silverseek.com/commentary/manipulation-timeline-7831
Other major globalist groups linking China with the West include the United States/China Business Council
https://www.uschina.org/board_of_directors.html
showing Maurice Greenberg, long associated with American International
Group (AIG) which Ted Butler used to allege to be involved with
removing silver from China and the National Committee on U.S./China
Relations
http://www.ncuscr.org/
which also shows Greenberg as a director. These groups cited are highly
influential in international business, totally connected to the huge
silver suppressing banks, and form a powerful community of interest.
The NCUSCR has as officials Henry Kissinger (Pilgrims Society);
Madeleine Albright (Pilgrims Society); Tom Kean (Pilgrims Society) of
the 911 Commission; and retired Admiral Joseph Prueher (very likely a
Pilgrims member). According to
http://rense.com/general9/mod.htm
Admiral Prueher “has been helping the Chinese climb all over U.S. defence secrets for years.”
It may widen your eyes to discover that
Albert
Helmig, who was president of the Hong Kong Mercantile Exchange
2009-2012 was on the NYMEX (New York Mercantile Exchange) board,
1991-2000 and chaired no less than seven committees; COMEX merged with
it in 1994; Helmig was a director (1994-1997) of International Precious
Metals Institute, which is heavily interlocked with the infamous Silver
Users Association; and Helmig was a member of the National Committee
for U.S. China Relations, 1993-2000. Now we see definite linkage of
silver suppressors with Chinese trade with the U.S. —
Technology is why the Chinese “would export silver, when they could export almost anything else.”
Remember
also that Butler named the Central Bank of the Philippines as being a
significant source of silver leasing some years ago (January 10, 2002)
http://www.butlerresearch.com/silver-leasing.html
The Asia Society was founded in 1956 by John D. Rockefeller 3
rd http://asiasociety.org/about/mission-history
and certainly includes mainland China in its focus. Today it features
two Rockefellers, a Speyer and Harold McGraw III as trustees
http://asiasociety.org/about/people/trustees
The Rockefellers have been at the heart of precious metals suppression
since at least the 1870’s. In “How To Trade With Communists—Interview
With David Rockefeller,” U.S. News & World Report, August 13, 1973,
showing him posing with an interested Chou-En-Lai, Red Chinese Premier,
with Rockefeller commenting we note—
“China is developing a broadly diversified industrial structure. It’s quite impressive.”
(New
York Times, August 10, 1973). Rockefellers and Rothschilds, working
together, but who is more powerful? Take your pick! The Independent,
London, April 16, 2004, said industry insiders count Rothschild wealth
“not in billions but trillions;” the 1973 expose by William Hoffman,
“David—Report on a Rockefeller” said “The power he wields crosses all
borders, can make or destroy governments, start and stop wars,
profoundly influence everyone’s life.” What these sources haven’t said
is that the R & R clans aren’t alone in the world power structure.
The other dynastic families are represented with them in The Pilgrims
Society of London and New York; and combined they may be worth more
than both of these.
We see Western globalization
organizers deeply involved with the industrialization of China (and the
former Soviet Union) and believe they’re the reason China has indeed
dumped lots of silver onto world markets after Mao Tse-tung seized
power in 1949. Antal Fekete’s idea that China hasn’t had silver exports
since 1950 is out of touch with facts. Where he stated—
“Nobody
knows how much silver the Chinese Communists found in bank vaults and
in the safe deposit boxes of Chinese merchants who fled the country,
when they took over the mainland. Nobody knows how much silver is still
hidden in the mattresses of Chinese peasants. The amounts must be
enormous. The best estimate is that most of that silver has never been
consumed and still exists in monetary form.”
He was sort
of correct; we’d have to be psychic to be aware how much silver fled
China ahead of Mao’s troops nor how much they captured probably for
bargaining purposes with the West for technology transfer. Silver
hidden in mattresses? No; that’s where you’d hide paper currency. Past
small amounts, silver becomes too uncomfortable to sleep on. Whose best
estimate is Fekete talking about? That also would demand someone, even
Chinese authorities, to be clairvoyant. Antal said gold was demonetized
“100 years after silver, in 1873.” Whoops! The rest of us thought that
Nixon closed the gold window at 1500 Pennsylvania Avenue Northwest in
August 1971! Two years off may not sound like much, but see how far you
get with Civil War historians if you say Fort Sumter was attacked on
April 12, 1863! If we allow cult status figures in our community, they
must still be accountable to facts! That applies no matter who
references them
http://www.gata.org/node/12211 Finally Fekete commented—
“This crisis has been in the making for over a century, involving
the so-called demonetization of both monetary metals. The move was
inspired and led by the United States.”
No, the crisis
dates way back before the last century, and the United States neither
inspired nor led the moves against monetary metals—the British get that
credit, and the Americans, though militarily stronger, are junior
partners financially. Will this correction to Fekete be posted by all
the sites that linked his article? Absolutely not; ask them why! Fekete
says after the dollar and paper currencies fail, China will run the
world. Not a bad thesis; however, I believe the Anglo-Americans are
conspiring to draw China and Russia into head on conflict over Middle
East petro and other resources including the entire Caspian Sea region,
after which the New World Order of the Anglo-Americans could again leap
forward. Maneuvring nations to fight each other has been a hallmark of
international finance since the Rothschilds perfected it centuries
past; but don’t kid yourself, they aren’t the only major private
financial power and are in league with the others via The Pilgrims
Society!
I present you here with 50+ references to back
up my case, not including links to any of my original work nor to those
of one brief similar issue to this; Fekete supplied no references. What
kind of learned professor is he? Here’s one I won’t include on the
scoreboard but it’s of interest
http://www.silverinstitute.org/site/supply-demand/silver-production/
in 2011 China was the world’s third largest silver producer at 103.9
million ounces. Are they exporting most silver mined on their territory
anymore? Not a chance! Any miners sending concentrate or dore to China
for smelting into three niner could abruptly find their metal has been
seized if wartime returns. Meantime some business is as usual, from
June 21, 2012, we find “Rothschilds and Rockefellers team up, target
rich Chinese at
http://www.morningwhistle.com/html/2012
Is
China actually the “big silver short?” I dearly doubt it; more likely,
it’s The Pilgrims Society and the banking entities it operates. How
nice for our megabankers if blame could be shifted elsewhere! And as
with the flow of silver to China over a multi-century span, the
camarilla of Anglo American power plans to recoup gold and silver that
has shifted to China and Russia in recent years. I worry much less
about Brazil, Russia, India and China (“BRIC” countries) than our own
leadership who, with the British, remain the main threat to our metals
ownership, to our sovereign individual liberties as expressed in the
Bill of Rights, and are the world’s leading warmongers. They have to
warmonger; for you see, this is intimately connected to synthetic money
creation. But with the Internet’s many uncensored sites, risk to the
Anglo American bankers is revving up! They marched all over silver for
centuries like General Sherman marching through Georgia; now the
General is ready to march all over them!
Banxter metal manipulator,
what the hell are you?
Always prowling for someone to lay waste to,
More of a nasty demon, with each turn of the screw,
Beware! This time you ain’t gonna breeze through!
“While
it is recognized that silver has had its day, there is a certain
reluctance to celebrate the last rites.”—The Economist, London, October
13, 1962, page 145
To close, here’s a tragically comical quotation from Newsweek, June 25, 2007, page 35—
“Foreigners prize dollars—especially $100 bills—as a store of value.”
Recommended reading on China and Silver—
“Silver Users And Opium”
http://www.silver-investor.com/charlessavoie/cs_mar04.htm
“China’s Empty Silver Vault”
http://www.silver-investor.com/charlessavoie/cs_july04.htm
“Silver Tour of China 1930”
http://www.silver-investor.com/charlessavoie/cs_nov07_silvertourofchina
“Silver Tour of China 1931”
http://www.silver-investor.com/charlessavoie/cs_dec07
