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IT REALLY IS IN YOUR INTEREST!

I stumbled upon the Gold Antitrust Action Committee first in the Fall of 1999, shortly before the Washington Agreement was signed by the 11 European bankers which were caught up in a competitive devaluation of their gold reserves through the leasing market up until then. What terrific timing, I thought to myself, for the birth of an organization whose agenda is to free American individuals from the bondage of a financial system whose anchor had been replaced by a socialist charter, that of the Federal Reserve System. Many may not understand the value gold has in a monetary aristocracy fraught with corruption, or gold's place in the private property charter allowing the owners of capital to rebel against government corruption of the free market capitalist system. This is not about a gold standard, but about the free market system that has brought about so much good. The goal of the government and its central bank, the Federal Reserve, has always been to redistribute wealth through the hidden tax of inflation. But today's central banking organizations are supported by an international banking cartel whose only defense against the tyranny of inflation is to manipulate the money and credit through sophisticated policies that include foreign exchange agreements and price targets. And although, at first glance, such manipulation appears, or is claimed, to be in our interest, it is really not. But it does need your ignorance to exist - Ed Bugos

 

 

Recommended reading from GATA:

Gold Derivative Banking Crisis

GATA Letter to O'Neill et al

 

Recommended from Goldenbar:

The Money is No Good

Inflation Paradox

   
GATA's History
GATA's Goals
The Gold Antitrust Action Committee was organized in January 1999 as a Delaware corporation to advocate and undertake litigation against illegal collusion to control the price and supply of certain financial securities, particularly securities involving gold. The committee arose from essays by Bill Murphy, a financial commentator, and by Chris Powell, a newspaper editor in Connecticut, published at Murphy's Internet site, www.lemetropolecafe.com. The committee has retained a prominent antitrust law firm, Berger & Montague of Philadelphia, and is raising money for advocacy and litigation.

GATA seeks to disclose and publicize the huge speculative short positions in gold taken by financial institutions and bullion banks. GATA believes that 10,000 tons of gold or more have been sold short by these speculators, even as yearly mine supply of gold in 1998 was only 2,529 tons. When, through our lawsuit and otherwise, we are able to show how short in gold even one major financial institution really is, other institutions will buy gold in quantity, knowing the short position in gold is too large to close without causing a substantial rise in the price of gold. Then the gold collusion game will be over - Email Bill Murphy, Chairman, GATA

 

All market manipulations are essentially manifestations of the socialist mentality, as the intervention necessarily dictates a misallocation of scarce resources. Thus, so long as governments believe that they must, or can, produce a market outcome or prevent market discipline for whatever reason, we are doomed to economic injustice.

But the worse crime of all is that this fact is unbeknownst to the vast majority of voting citizens who still believe that they live in a free market democracy when they cast their ballots. The reality is of course far grimmer, or somewhat ironic, depending on where you live. It is that the evolution of a typical fiat monetary system is entirely political rather than economic. In the end, our leaders will do everything they can to maintain the purchasing power of the currency, and they will do it with a popular mandate, in the name of the Welfare State -- Ed Bugos, CEO / Editor -- The Goldenbar Report

ESSENTIAL QUOTES: MONEY AND LIBERTY

"They that can give up essential liberty to purchase a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

"Mankind soon learns to make interested uses of every right and power, which they possess, or may assume. The public money and public liberty... will soon be discovered to be sources of wealth and dominion to those who hold them; distinguished, too, by this tempting circumstance, that they are the instrument, as well as the object of acquisition." - Thomas Jefferson (Notes on Virginia, 1784)

"The few who can understand the system (Federal Reserve) will either be so interested in its profits, or so dependent on its favors, that there will be no opposition from that class, while on the other hand, the great body of the people, mentally incapable of comprehending the tremendous advantages that capital derives from the system, will bear its burdens without complaint and perhaps without even suspecting that the system is inimical to their interests." - John Sherman, protege of the Rothschild banking family

"Hitler does not have a new secret weapon at his disposal. He does not give his victory to an excellent intelligence service which informs him of the plans of his opponents. Even the much-talked-of 'fifth column' was not decisive. He won because the supposed opponents were already quite sympathetic to the ideas for which he stood (labor and specifically state socialism). Only those who unconditionally and unrestrictedly consider the market economy as the only workable form of social cooperation are opponents of the totalitarian systems and are capable of fighting them successfully." - Ludwig von Mises from Interventionism, An Economic Analysis; originally published "in 1940 as part of Nationaloekonomie, the German predecessor to Human Action

"It is error alone which needs the support of government. Truth can stand by itself." - Thomas Jefferson

"That Keynes was a Keynesian—of that much derided Keynesian system provided by Hicks, Hansen, Samuelson, and Modigliani—is the only explanation that makes any sense of Keynesian economics. Yet Keynes was much more than a Keynesian. Above all, he was the extraordinarily pernicious and malignant figure that we have examined in this chapter: a charming but power-driven statist Machiavelli, who embodied some of the most malevolent trends and institutions of the twentieth century" - Murray Rothbard's concluding words in the chapter "Keynes, the Man" from "Dissent on Keynes..." (1992)

"Still, as Jacob Burckhardt says, power is evil in itself, no matter who exercises it. It tends to corrupt those who wield it and leads to abuse. Not only absolute sovereigns and aristocrats, but the masses also, in whose hands democracy entrusts the supreme power of government, are only too easily inclined to excesses." - von Mises (Liberalism)

"The truth that makes men free is for the most part the truth which men prefer not to hear." - Herbert Sebastien Agar (1897-1980); The Time for Greatness, 1942

"Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the U.S., in the field of commerce and manufacturing, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it." - Woodrow Wilson - In his book entitled The New Freedom (1913)

"The Federal Reserve Bank of New York is eager to enter into close relationship with the Bank for International Settlements....The conclusion is impossible to escape that the State and Treasury Departments are willing to pool the banking system of Europe and America, setting up a world financial power independent of and above the Government of the United States....The United States under present conditions will be transformed from the most active of manufacturing nations into a consuming and importing nation with a balance of trade against it" - Rep. Louis McFadden, (Chairman of the House Committee on Banking and Currency) quoted in the NY Times (1930); there were at least two attempts on his life... he died of suspected poisoning after attending a banquet

"The people never give up their liberties, but under some delusion." - Edmund Burke

"After a shooting spree, they always want to take the guns away from the people who didn't do it. I sure as hell wouldn't want to live in a society where the only people allowed guns are the police and the military." - William Burroughs

At first man was enslaved by the gods, but he broke their chains…
Then he was enslaved by the kings, but he broke their chains…
He was enslaved by his birth, by his kin, by his race, but he broke their chains...
He declared to all his brothers that man has rights that neither god or king nor other men can take away from him no matter what their number.
For his is the right of man.
And there is no right on earth above this right
- The Anthem, by Ayn Rand

 

 

   
 

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