For Zorro
"Nor shall he meanwhile suffer any evil or harm,
until he sets foot upon his own land; but thereafter he shall suffer whatever
Fate and the dread Spinners spun with their thread for him at
his birth, when his mother bore him."[1]
Abstract
For those who say that market intervention and manipulation does not occur, they are either deaf, dumb, blind, or all three: the proverbial monkey who hears no evil, sees no evil, and speaks no evil - oh how I wish it were so. Perhaps one day soon it will be. Until then we remain undaunted, ever vigilante, at our post.
Questions often asked: who would intervene in the market? Why would they intervene in the market? How could they intervene in the market? Even if they did intervene would what they do actually manipulate the market? How could this go undetected?
Is there any precedent of market intervention and manipulation in the past that would exhibit that such a pattern of behavior has previously occurred and is therefore reasonably probable or at the least - possible?
Precedents
We will cite ten (10) examples, as that is the number of appendages by which we grasp, whatever it is that we seek.
Daniel Drew
"In 1857, Drew became a member of the board of directors of the Erie Railroad and used his position to manipulate the firm's stock price.
In 1864, Drew once again struggled with Vanderbilt, speculating on the stock of the Harlem Railroad. Drew was selling the stock short, but Vanderbilt and his associates bought every share he sold, ultimately causing the stock price to rise from 90 to 285 in five months. Drew lost $500,000.
In 1866-1868, Drew engaged in the Erie War, in which Drew conspired along with James Fisk (financier) and Jay Gould to issue fraudulent stock to keep Vanderbilt from gaining control of the Erie Railroad. Vanderbilt sustained heavy losses and conceded control of the railroad to the trio. In 1870, Fisk and Gould betrayed Drew, manipulating the stock price of the Erie Railroad and causing him to lose $1.5 million. The Panic of 1873 cost him still more, and by 1876, Drew filed for bankruptcy, with debts exceeding a million dollars and no viable assets. He died in 1879, dependent on his son for support."[2]
James Fisk
"In 1864 he became a stockbroker in New York and was employed by Daniel Drew as a buyer. He aided Drew in his war against Cornelius Vanderbilt for control of the Erie Railroad, which resulted in Fisk and Jay Gould becoming members of the Erie directorate. Subsequently, a well-planned raid netted Fisk and Gould control of the railroad .
The association with Gould continued until his death. They carried financial buccaneering to extremes, their program including open alliance with Boss Tweed, the wholesale bribery of legislatures, and the buying of judges.
Their attempt to corner the gold market culminated in the fateful Black Friday of September 24, 1869.
It was during the same period that Gould and James Fisk became involved with Tammany Hall; they made Boss Tweed a director of the Erie, and Tweed, in turn, arranged favorable legislation for them. Tweed and Gould became the subjects of political cartoons by Thomas Nast in 1869. In October 1871, when Tweed was held on $1 million bail, Gould was the chief bondsman."[3]
Black Friday
"In August 1869, Gould and Fisk began to buy gold in an attempt to corner the market, hoping that the increase in price of gold would increase the price of wheat such that western farmers would sell, causing a great amount of shipping of breadstuffs eastward, increasing freight business for the Erie railroad.
During this time, Gould used contacts with President Ulysses S. Grant's brother-in-law, A.H. Corbin, to try to influence the president and his Secretary General Horace Porter.
These speculations in gold culminated in the panic of Black Friday, on September 24, 1869, when the premium over face value on a gold Double Eagle fell from 62% to 35%. Gould made a nominal profit from this operation, but lost it in the subsequent lawsuits. The affair also cost him his reputation."[4]
John Rockefeller
"By 1896, Rockefeller had shed most of his day-to-day involvement in the affairs of Standard Oil, though he retained his title as president until 1911.
On May 15, 1911, the Supreme Court of the United States held that Standard Oil, which by then still held a 64% market share, originated in illegal monopoly practices and ordered it to be broken up into 34 new companies."[5]
Richard Whitney
"Was an American financier, president of the New York Stock Exchange 1930-1935, and a convicted embezzler. After obtaining loans from as many people as he could, Richard Whitney turned to embezzlement to cover his mounting business losses and to maintain his extravagant lifestyle. He stole funds from the New York Stock Exchange Gratuity Fund as well as from the New York Yacht Club where he served as the Treasurer. In addition, he stole $800,000 worth of bonds from his father-in-law's estate.
However, the Pecora Commission uncovered a wide range of abusive practices on the part of banks and bank affiliates and initiated a major process for reform of the American financial system that saw the U.S. Congress pass the Securities Act of 1933 and the Securities Exchange Act of 1934 as well as the 1935 formation of the U.S. Securities and Exchange Commission as a mechanism to enforce the provisions of the new Acts. While the new legislation made stock manipulation illegal, Whitney and others were successful in keeping short selling, a market tool that U.S. President Herbert Hoover had wanted banned."[6]
Boss Tweed
"William Marcy Tweed (April 3, 1823-April 12, 1878), commonly known as Boss Tweed, or "The Big Dog," was an American politician and political boss of Tammany Hall who became an icon of urban political machines. Tweed and his cronies became known as the Tweed Ring. Tweed's political machine gained numerous offices in New York City, and even to the state legislature and judges' seats, often through illegal means.
From 1860-1870, Tweed controlled almost every single United States Democratic Party nomination for the city and the state.
In April 1870, at the age of 47, Tweed secured the passage of a city charter putting the control of the city into the hands of the mayor (A. Oakey Hall), the comptroller, and the commissioners of parks and public works. He then set about to plunder the city. The total amount of money stolen was never known, but was estimated to be about $200 million.
In October 1871, when Tweed was held on $1,000,000 (USD) bail, Jay Gould was the chief bondsman. The efforts of political reformers William H. Wickham (1875 New York City mayor) and Samuel J. Tilden (later 1876 Democratic presidential nominee) resulted in Tweed's trial and conviction in 1873. He was given a 12-year prison sentence, which was reduced by a higher court and he served one year."[6]
J.P. Morgan
Brandeis' main point of contention was that the large banking houses were colluding with businessmen to create trusts in America's major industries. The trusts not only strangled the competition, but they also became so large that they no longer operated efficiently.
Brandeis backed up his arguments with huge amounts of facts and data amassed during his battles with J. P. Morgan and Charles Mellon in the New Haven Railroad merger case and from the Pujo Committee Hearings - a House committee report that investigated the abuses of the "Money Trust."
President Wilson, when Governor, made the following speech in 1911:
"The great monopoly in this country is the money monopoly. So long as that exists, our old variety and freedom and individual energy of development are out of the question. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated.
The growth of the nation, therefore, and all our activities are in the hands of a few men, who, even if their actions be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who, necessarily, by every reason of their own limitations, chill and check and destroy genuine economic freedom.
This is the greatest question of all; and to this, statesmen must address themselves with an earnest determination to serve the long future and the true liberties of men."[7]
The Pujo Committee -- appointed in 1912 -- found:
"Far more dangerous than all that has happened to us in the past in the way of elimination of competition in industry is the control of credit through the domination of these groups over our banks and industries."...
"The Pujo Committee, a subcommittee of the House Banking and Currency committee was created with the mandate to investigate what was referred to as the Money Trust: an elite group of well connected investment bankers and other financiers that were said to run the entire country."[8]
Supreme Court Justice Louis D. Brandeis wrote a book about the entire issued called Other People's Money. All of the extracts presented here are from his work.
As the Honorable Justice most eloquently stated:
"The facts, which the Pujo Investigating Committee and its able Counsel, Mr. Samuel Untermyer, have laid before the country, show clearly the means by which a few men control the business of America. The report proposes measures, which promise some relief. Additional remedies will be proposed. Congress will soon be called upon to act.
How shall the emancipation be wrought? On what lines shall we proceed? The facts, when fully understood, will teach us."[9]
The Facts
"But wealth expressed in figures gives a wholly inadequate picture of the allies' power. Their wealth is dynamic. It is wielded by geniuses in combination. It finds its proper expression in means of control. To comprehend the power of the allies we must try to visualize the ramifications through which the forces operate.
Mr. Baker is a director in 22 corporations having, with their many subsidiaries, aggregate resources or capitalization of $7,272,000,000. But the direct and visible power of the First National Bank, which Mr. Baker dominates, extends further.
The Pujo report shows that its directors are directors in at least 27 other corporations with resources of $4,270,000,000. That is, the First National is represented in 49 corporations, with aggregate resources or capitalization of $11,542,000,000.
1. Banks, Trust, and Life Insurance Companies: First National Bank of New York; National Bank of Commerce; Farmers' Loan and Trust Company; Mutual Life Insurance Company.
2. Railroad Companies: New York Central Lines; New Haven, Reading, Erie, Lackawanna, Lehigh Valley, Southern, Northern Pacific, Chicago, Burlington & Quincy.
3. Public Service Corporations: American Telegraph & Telephone Company, Adams Express Company.
4. Industrial Corporations: United States Steel Corporation, Pullman Company
Mr. Stillman is a director in only 7 corporations, with aggregate assets of $2,476,000,000; but the directors in the National City Bank, which he dominates, are directors in at least 41 other corporations, which, with their subsidiaries, have an aggregate capitalization or resources of $10,564,000,000.
The members of the firm of J. P, Morgan & Co., the acknowledged leader of the allied forces, hold 72 directorships in 47 of the largest corporations of the country.
The Pujo Committee finds that the members of J. P. Morgan & Co. and the directors of their controlled trust companies and of the First National and the National City Bank together hold:
One hundred and eighteen directorships in 34 banks and trust companies having total resources of $2,679,000,000 and total deposits of $1,983,000,000. Thirty directorships in 10 insurance companies having total assets of $2,293,000,000.
One hundred and five directorships in 32 transportation systems having a total capitalization of $11,784,000,000 and a total mileage (excluding express companies and steamship lines) of 150,200.
Sixty-three directorships in 24 producing and trading corporations having a total capitalization of $3,339,000,000.
Twenty-five directorships in 12 public-utility corporations having a total capitalization of $2,150,000,000.
In all, 341 directorships in 112 corporations having aggregate resources or capitalization of $ 22,245,000,000.
The real managing directors of the New Haven system during the decade of its decline were: J. Piermont Morgan, George F. Baker, and William Rockefeller. Mr. Morgan was, until his death in 1913, the head of perhaps the largest banking house in the world.
Mr. Baker was, until 1909, President and then Chairman of the Board of Directors of one of America's leading banks (the First National of New York), and Mr. Rockefeller was, until 1911, President of the Standard Oil Company.
Each was well advanced in years. Yet each of these men, besides the duties of his own vast business, and important private interests, undertook to "guide, superintend, govern and manage," not only the New Haven but also the following other corporations, some of which were similarly complex: Mr. Morgan, 48 corporations, including 40 railroad corporations, with at least 100 subsidiary companies, and 16,000 miles of line; 3 banks and trust or insurance companies; 5 industrial and public service companies.
Mr. Baker, 48 corporations, including 15 railroad corporations, with at least 158 subsidiaries; and 37,400 miles of track; 18 banks, and trust or insurance companies; 15 public-service corporations and industrial concerns. Mr. Rockefeller, 37 corporations, including 23 railroad corporations with at least 117 subsidiary companies, and 26,400 miles of line; 5 banks, trust or insurance companies; 9 public service companies and industrial concerns."[10]
President Woodrow Wilson
President Woodrow Wilson when asked during a press conference about the Money Trust replied:
"No country can afford to have its prosperity originated by a small controlling class. The treasury of America does not lie in the brains of the small body of men now in control of the great enterprises... It depends upon the inventions of unknown men, upon the originations of unknown men, upon the ambitions of unknown men. Every country is renewed out of the ranks of the unknown, not out of the ranks of the already famous and powerful in control."[11]
Gold Confiscation
Last week in our article Gold Wars: Gibson's Paradox and the Gold Standard we said:
"President Roosevelt confiscated all of the people's gold under the Trading with the Enemy Act, which comes from The War Powers Resolution. At the time, the United States was not at war with any foreign countries, which by process of elimination leaves only one other party mentioned in the act: We The People. See Presidential Executive Order 6102 .
Subsequent legislation: Emergency Banking Relief Act of 1933 US Statutes at Large also made it illegal for private citizens of the United States to own gold.
The so-called dollar price of one ounce of gold increased from $20.67 to $35 dollars per ounce. This is a 69% devaluation of the dollar in one swell swoop. See Presidential Proclamation (no. 2072) of Franklin D ...The Gold Reserve Act."[12]
The Hunt Brothers
"Nelson Bunker and brother William Herbert Hunt , together with two wealthy Arab investors, formed a company called International Metals Investment Company Ltd. with the intent of cornering the world silver market. Through their brokers on the Commodity Exchange (COMEX), Alvin Brodsky and Mark Denberg, they quickly amassed more than 200 million ounces of silver, equivalent to half the world's deliverable supply. When the Hunt brothers began accumulating silver in 1973 the price was $1.95 per ounce. Early in 1979 the price was about $5, and in 1980 the price peaked at $49.45 per ounce.
Once the silver market was cornered, outsiders joined the chase but a combination of changed trading rules on the New York Metals Market(COMEX) and the intervention of the Federal Reserve put an end to the game. The price began to slide, culminating in a 50% one-day decline, known as Silver Thursday, on March 27 , 1980 as the price plummeted from $21.62 to $10.80."[13]
London Gold Pool
"An alliance between the central banks of Britain, Belgium, France, Italy, the Netherlands, Switzerland, the United States and West Germany from 1961 to 1968 to try to maintain the gold price at $35 an ounce."[14]
"The Bank of England operated for the pool through a direct line to the fixing in London, selling from their combined reserves if the price threatened to breach $35.20 and buying back for the pool account when it was weak.
The pool finally collapsed in March 1968 when the run on gold, after the Tet offensive in Vietnam undermined confidence in the dollar, overwhelmed its resources. The pool lost nearly 3,000 tonnes (96 million ounces) of its combined reserve of 24,000 tonnes (772 million ounces), including 1,000 tonnes (32 million ounces) between 8 and 15 March 1968, when the London gold market was closed temporarily. When it re-opened two weeks, later the pool had been disbanded and gold was left free to find its own level."[15]
Exchange Stabilization Fund
Also stated in last weeks Gold Wars: Gibson's Paradox and the Gold Standard
J. Virgil Mattingly's 1995 statement to the FOMC:
"It's pretty clear that these ESF (exchange stabilizing fund) operations are authorized. I don't think there is a legal problem in terms of the authority. The statute [31 U.S.C. s. 5302] is very broadly worded in terms of words like 'credit' -- it has covered things like the gold swaps -- and it confers broad authority."[165]
US TREASURY EXCHANGE STABILIZATION FUND
Introduction
"The Exchange Stabilization Fund (ESF) consists of three types of assets: U.S. dollars, foreign currencies, and Special Drawing Rights (SDRs) Currently, the ESF has approximately $38 billion in these three assets.
The ESF can be used to purchase or sell foreign currencies, to hold U.S. foreign exchange and Special Drawing Rights (SDR) assets, and to provide financing to foreign governments. All operations of the ESF require the explicit authorization of the Secretary of the Treasury ("the Secretary").
The Secretary is responsible for the formulation and implementation of U.S. international monetary and financial policy, including exchange market intervention policy. The ESF helps the Secretary to carry out these responsibilities. By law, the Secretary has considerable discretion in the use of ESF resources.
The legal basis of the ESF is the Gold Reserve Act of 1934. As amended in the late 1970s, the Act provides in part that "the Department of the Treasury has a stabilization fund ...Consistent with the obligations of the Government in the International Monetary Fund (IMF) on orderly exchange arrangements and an orderly system of exchange rates, the Secretary ..., with the approval of the President, may deal in gold, foreign exchange, and other instruments of credit and securities."[17]
I guess the part that reads "exchange market intervention " would come under the heading of this paper: Gold Wars Intervention & Manipulation.
I am a bit perplexed on the part that says: "consistent with the obligations of the Government in the International Monetary Fund..." the Secretary "may deal (interesting choice of words) in gold, foreign exchange, and other instruments of credit and securities."
That almost sounds like our Secretary does deals in gold, foreign exchange, and other instruments of credit and securities to keep the International Monetary Fund obliged, which begs the question: obliged how, by what means, and to what extent - and for what purpose? Cui Bono?
The Plunge Protection Team
For those who have not heard of the plunge protection team we offer the following Presidential Executive Order that created the "team".
For further elucidation we recommend: washingtonpost.com: Plunge Protection Team and US Treasury - Office of Domestic Finance.
Executive Order 12631 -- Working Group on Financial Markets
March 18, 1988
By virtue of the authority vested in me as President by the Constitution and laws of the United States of America, and in order to establish a Working Group on Financial Markets, it is hereby ordered as follows: (it is highly questionable if the Constitution vests any authority for such action - comment mine)
Section 1. Establishment. (a) There is hereby established a Working Group on Financial Markets (Working Group). The Working Group shall be composed of:
(1) The Secretary of the Treasury, or his designee;
(2) The Chairman of the Board of Governors of the Federal Reserve System, or his designee;
(3) The Chairman of the Securities and Exchange Commission, or his designee; and
(4) The Chairman of the Commodity Futures Trading Commission, or her designee.
(b) The Secretary of the Treasury, or his designee, shall be the Chairman of the Working Group.
Sec. 2. Purposes and Functions. (a) Recognizing the goals of enhancing the integrity, efficiency, orderliness, and competitiveness of our Nation's financial markets and maintaining investor confidence, the Working Group shall identify and consider:
(1) the major issues raised by the numerous studies on the events in the financial markets surrounding October 19, 1987, and any of those recommendations that have the potential to achieve the goals noted above; and
(2) the actions, including governmental actions under existing laws and regulations (such as policy coordination and contingency planning) that are appropriate to carry out these recommendations.
(b) The Working Group shall consult, as appropriate, with representatives of the various exchanges, clearinghouses, self-regulatory bodies, and with major market participants to determine private sector solutions wherever possible.
(c) The Working Group shall report to the President initially within 60 days (and periodically thereafter) on its progress and, if appropriate, its views on any recommended legislative changes.
Sec. 3. Administration. (a) The heads of Executive departments, agencies, and independent instrumentalities shall, to the extent permitted by law, provide the Working Group such information as it may require for the purpose of carrying out this Order.
(b) Members of the Working Group shall serve without additional compensation for their work on the Working Group.
(c) To the extent permitted by law and subject to the availability of funds therefore, the Department of the Treasury shall provide the Working Group with such administrative and support services as may be necessary for the performance of its functions.
Ronald Reagan
The White House,
March 18, 1988.
[Filed with the Office of the Federal Register, 11:23 a.m., March 21, 1988][18]
The Present & The Future
The following is from a recent speech by William R. White, Economic Adviser and Head of the Monetary and Economic Department at the Bank for International Settlements (BIS):
"Fourth, the efficient international dissemination of both ideas and information that can improve national policymaking. And last, the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful. [Emphasis added by author.][19]
For a much more detailed analysis than can be presented here, we suggest the unsurpassed work by the members of GATA (Gold Anti-Trust Action Committee) headed by Bill Murphy and Chris Powell, with one of the greatest legal minds extent: Reggie Howe and the number one interventional analyst - Michael Bolser: Interventional Analysis: A New Investment Perspective.
Very few understand what these gentlemen know - and usually they are on the other side. We are fortunate to have them on our side - the side of We The People.
For the full story see: Now They Tell Us: BIS Confirms Rigging Gold Prices at the GoldenSextant website, and further detailed analysis at www.gata.org . And www.lemetropole.com.
For a different type of analysis found anywhere, see Interventional Analysis: A New Investment Perspective By Michael Bolser. He goes where few dare to tread.
Testimony to a Gold Warrior
Ferdinand Lips was a gold warrior of the highest caliber. He understood the moral and spiritual aspects of Honest Money of Gold and Silver Coin - of Honest Weights & Measures.
In 1987, he opened his own Bank in Zurich. He retired in 1988 to dedicate his life to the cause of Honest Money. He was a Trustee of The Foundation for the Advancement of Monetary Education.
Mr. Lips wielded a mighty pen in reply to the forces aligned against gold: writing three books on gold - The last being his masterpiece: Gold Wars. Recently Ferdinand passed to the other side. All will miss him. He was an honorable and gracious man.
We would like to quote a story of Ferdinand's from his book Gold Wars, as it cuts right to the bone.
"On February 6, 1996, I visited J. Aron & Co. a well-established bullion firm in London. It is a subsidiary of the prestigious Wall Street firm Goldman, Sachs & Company. Robert Rubin, its former CEO, was serving as U.S. Secretary of the Treasury at the time.
I had a meeting that day with Neil R. Newitt, Managing Director, and Philip Culliford, Executive Director...Newitt was outright bearish on gold and said that the central banks would stop any increase in the price of gold. Having been active in the gold market since 1968, he was in regular contact with central banks and seemed to know what he was talking about.
The conclusion drawn from the discussion was that there could be no doubt that the central banks were controlling prices. Afterwards, I visited Deutsche Morgan Grenfell where Robert Weinberg told me that the firm of J. Aron was a very active in forward sales by gold mining companies.
One result of my visit, however, was that I realized that the gentlemen at J. Aron, who were acting for central banks, undoubtedly had better information and advance knowledge that easily could be exploited. What I did not yet realize was that these were the people who actually advised the central banks.
And so I found out, unfortunately belatedly, who had the biggest interest in keeping the gold price down, or at least unchanged. It was not the central banks - it was the bullion banks. In the end, it is the banks that are in control of the monetary system. They are the monetary system.[20]
So here, we witness first hand evidence that the gold bullion banks that specialize in gold bullion are deeply involved with all things bullion - including the short selling of a commodity of production in the marketplace.
Common sense alone offers the same result, providing both a fascinating and most telling display of the reality of the dog eat dog business world of gold - all in search of profit, whatever the cost, whomever stands in the way. Collateral damage does not appear to be in term in their vocabulary.
Nobel Prize Laureate Speaks Out
The following is from Gold Wars by Mr. Lips.
At a conference organized by the World Gold Council in Paris on November 19, 1999, Robert Mundell, Professor at Columbia University and 1999 Nobel Prize Laureate in Economics, made the following remarks during the question and answer session after his speech on "The International Monetary System at the Turn of the Millennium":
"Gold is subject to a lot of elements of instability, not the least of which is the attempt on the part of several big governments to make it unstable. [...] If you notice what happened in the past 20 years in government policy in respect to gold, nobody sold gold when the price was soaring to $800 an ounce. It would have been a good deal and it would have been stabilizing if they would have done so. But people sell it when it hits bottom; the British have been selling gold now that it seems to have hit the very bottom. That element - governments selling when the price is low or not selling when the price is high - makes it destabilizing. Governments should [...] buy low and sell high."[21]
Ferdinand then asks a very logical question: what are governments trying to achieve if they are guilty of destabilizing or capping the price of gold - what some would call manipulation by intervention, others have less polite names for it.
As we have repeatedly said - paper fiat debt-money rests upon a foundation of illusion, delusion, and deception. It will only last as long as the people have confidence that the funny money remains accepted as the medium of exchange.
If the con-fi-dence in the currency wanes, the acceptance of the money dissappears and with the non-acceptance the end of the currency occurs. Such has been the history of all paper fiat debt-money.
Gold is the Sovereign of Sovereigns or as J.P. Morgan answered when ask during the Pujo Hearings what the role of gold was in the financial system and if it could be a source of problems:
"Gold is money, and nothing else."[22]
In other words, to perpetuate the illusion that paper fiat debt-money is a sound and stable currency, the sentinel of Honest Money: Gold must be hushed and kept quite.
Gold is a barometer of funny money when allowed to function according to free market dynamics. It will spike a rising temperature in a minute - warning all of the debasement of paper fiat debt-money.
Nevertheless, if subjected to intervention and manipulation gold's warning appears less noticeable yet, those who listen hear - and will increasingly hear - the crying out from the watchtower.
"When Gold Speaks - All Tongues Are Silent."[23]
Conclusion
Clearly more than adequate precedent has been established. The evidence presented appears irreproachable. The verdict we leave to the reader's discretion and sense of justice. The rest we will leave to the judgment of providence, in the balance forged by time.
"We claim to be just and upright.
No wrath from us will come stealthily to the one
who holds out clean hands, and he will go through life unharmed;
but whoever sins and hides his blood-stained hands, as avengers of bloodshed we
appear against him to the end, presenting ourselves
as upright witnesses for the dead."[24]
Come visit our new website: Honest Money Gold & Silver Report.
And read the Open Letter to Congress
[1] Alcinous on Odysseus. Homer, Odyssey 7.195
[2] Wikipedia
[3] Wikipedia
[4] Wikipedia
[5] Wikipedia
[6] Wikipedia
[6] Wikipedia
[7] President Wilson Other People's Money and How the Bankers Use It
[8] Other People's Money and How the Bankers Use It By Justice Louis Brandeis
[9] Same
[10] Other People's Money and How the Bankers Use It.
[11] President Wilson in Other People's Money and How the Bankers Use It
[12] Gold Wars: Gibson's Paradox and the Gold Standard
[13] Wikipedia
[14] Thr London Bullion Market Association
[15] Gold Pool
[16] Gold Wars: Gibson's Paradox and the Gold Standard
[17] US Treasury - Exchange Stabilization Fund
[18] Executive Order 12631 -- Working Group on Financial Markets
[19] BIS Paper No. 27, Past and Future of Central Bank Cooperation
[20] Gold Wars by Ferdinand Lips pages 123-125
[21] Same pg. 125
[22] J.P. Morgan 1913 Pugo Hearings - Gold & Liberty and Gold Wars
[23] Family Proverb From Italy
[24] Alcinous on Odysseus. Homer, Odyssey 7.195
