NEWSOME,
NYMEX TRAIL BOSS!
Copyright August 2004 Charles Savoie
We the silverites and our cousins the goldbugs, have as of July 9, 2004 been informed that James Newsome, chairman of the Commodity Futures Trading Commission, will take up the position of president of the New York Mercantile Exchange, parent of the Commodity Exchange (COMEX) as of August 2. It shows that a plain vanilla cattle raiser from Mississippi can attain to important positions in this world. Looks like beefy Mr. Newsome has dined on many a thick steak, with baked potato, sour cream and chives on the side, he does look a bit “corn fed,” are those carotid arteries clogged, Jimmy?
Before reading further, I strongly suggest you turn on your television and watch any re-run episode of the old black and white “Rawhide” series 1959-1966 of over 200 episodes, and enjoy that hell-for-leather cattle drive song by Frankie Lane that helped make the series famous, and launched Clint Eastwood into star status. But Clint as Rowdy Yates wasn’t the trail boss---that was Gil Favor, played by Eric Fleming. In one episode Mr. Favor was repeatedly importuned for a trail driving job by a man desperate to feed his family. To get rid of the man, Mr. Favor slugged him very hard in the face, knocking him down and killing him as his head struck a fence post on the way down. If you feel this is building up to something, let’s follow through! For we the silverites have repeatedly asked the CFTC to end the shortside silver swindle, and they have issued denials of its existence. We see the diarrhea, metaphorically speaking, and they insist it’s brown gravy! Considering who their advisory boards consist of, to anticipate them to do otherwise would be like expecting to find no billiard balls in a pool hall. The CFTC has verbally slugged us as COMEX shorts sent little investors down the “Commode Exchange” drain again into the septic tank of New York inflicted financial losses. They have insisted to us that there is no rat’s rump on the banana split, yet there it persists for numberless months, defiantly staring us in the face from atop the skyscrapers housing the financial institutions! All these years of being lured by leverage as the bait in the trap, little people’s paper silver “investments” have expired worthless as the Manhattan shysters siphoned off their funds. You could say that James Newsome is the equivalent of Mr. Favor from Rawhide, with only the brutal side of Mr. Favor left! While Mr. Favor was the trail boss on Rawhide, he wasn’t actually the real boss; he was answerable to the cattlemen ranchers whose property he and his men were transporting to market. The analogy holds true also of Newsome. He’ll hold the title of president of the NYMEX, but others behind the scenes will give him his marching orders. He is definitely not a substantial power in and of himself!
“Favors” will be gifted to the industrial silver users in the form of rule changes (backed up by whoever the new CFTC chairman is) that say, only legitimate industrial users may take delivery of physical silver traded on the exchange. “Speculators” and “hoarders,” meaning, those seeking to preserve their savings by owning real silver, will be shut out of the delivery stage. Investors owning silver stored in COMEX facilities may be told they cannot remove their metal, but have to sell it to “chartered industrial consumers.” Appeals to justify the move would be based on national security and preserving employment. Both those issues are reasons why the users should be denied silver! The raids on our strategic silver stockpile were so high profile, even overseas news sources had to cover it. According to the London Times, September 18, 1981, page 19, “Silver Falls On News Of U.S. Sale”---
“The United States Government said yesterday that it will begin selling 46.5 million ounces of stockpiled silver next month. The General Services Administration, the agency that controls the strategic stockpile of minerals, said 1.25 million ounces of silver will be offered for sale each week. Silver prices fell sharply after the sale was announced. The Reagan Administration, which has promised to strengthen United States defenses, has already begun making the first major purchases in 20 years for the strategic stockpile. Cobalt, used for aircraft engines, and other materials such as vanadium, are considered vital for defense and industrial production. Under the controversial silver disposal plan, America would sell off one third of its 139 million ounce stockpile.”
The London Times, June 16, 1981, page 15, admitted that the U.S. House of Representatives authorized a silver sale of 105.2 million ounces---the 46.5 million ounce figure reported later was just the first round of disposals to the users. Very hypocritically did they excuse the sale of silver, saying it was needed to pay for cobalt, when there is no metal as strategic as silver. Ironically, Newsome said he supports the (misnamed) Patriot Act (see below) when he said he looks forward to working with the silver users---those who’re responsible for America having no silver defense reserves! The other reason that will be offered for rules allowing silver delivery only to users, employment security, is another false basis, because the users are busy exporting their American employees jobs to India and China (see “Silver Users Exporting Jobs,” Archives). By prohibiting access to COMEX silver to all but the users association, it will be a worldwide signal for a rush on any silver available, before they too are done out by the users. No longer will it be possible to keep silver disposals quiet. Our State Department, through our Ambassadors, may put pressure on key nations to seize any available silver, and export it here, possibly offering to expunge foreign aid related debts (cheating the U.S. taxpayer again, for special interests.) In view of all this intrigue and legislative corruption, the need for a strong precious metals lobby should be obvious, like the need to drive with your eyes open!
THE SILVER FEEDLOT---ONLY USERS MAY GRAZE!
Some of Newsome’s connections were discussed in “CFTC” (Commodity Futures Treacherous Collusion, archives). Newsome might say something like---
“Reality has to take control here. None of these silver-hoarding speculators stockpile wheat, cotton, cocoa, copper or soybeans. They need to stop diverting silver from legitimate industrial consumers by which they harm the national interest. Appropriate rule changes are hereby decreed to prevent the wrong elements from taking delivery and shifting silver into inert unproductive storage.”
Very meaningful is the fact of two top level CFTC resignations within a short time frame (June 9 and July 23), first former San Francisco Federal Reserve Bank economist Michael Gorham, he of the nine page letter denying a silver manipulation on the COMEX; and now Newsome. In a speech to the International Futures Industry Conference on March 15, 2002, Newsome said---
“All too often, however, we lose good people just as they are coming into their own as economists.”
How harmonious for one gang member to be fond of the other members! My take on Newsome assuming presidency of the NYMEX isn’t an upbeat thing for silver investors. He will act to prevent delivery of silver to anyone other than members of the Silver Users Association or “appropriate” designees. Mitchell Steinhause, chairman of NYMEX, said Dr. Newsome had the greatest “pro-business” stance of any CFTC chief. But there are two types of businesses, those that have to compete, and those that haven’t had to compete (the silver users!) Yes, he called him “Doctor;” rather funny; what, was he a bovine veterinarian? In a speech to what I called the “gargantuan colostomy bag,” the SUA, on May 23, 2001, Newsome said---
“I look forward to working with you as we move forward.”
See http://www.cftc.gov/opa/speeches01/opanewsm-20.htm for the entire revolting content. Mr. Newsome might consider going to some sessions of the nearest Toastmasters Club to add sparkle to his public speaking---notice he used the word “forward” twice in an eleven-word sentence! Yet his wearing out the language is a bagatelle compared to exhausting silver. Every mining operation in the world, which produces any silver, has been harmed by rigged COMEX prices. An attempt to find a website for the Mississippi Agribusiness Council, curiously, met with no outcome. Recall that Newsome headed that Southern entity before being tapped as a CFTC commissioner by Bill Clinton in August 1998. The British have been doing everything they could to kill the silver price since they had it demonetized here in February 1873. One hundred twenty five and one half years later, as another example, their Oxford University trained British Empire Rhodes Scholar U.S. (colonial governor) President Clinton, sent a man to CFTC who has allowed the silver price to remain suppressed, and backed up Gorham, who spewed out lies like a Roman candle showering sparks. That silver is the victim of an arcane financial conspiracy residing in some intermarried wealthy families in Britain and America is beyond question; the secretive ones behind the paper money machine. In my weakness for satire I can’t resist pointing out that Jimmy is a native of Plant City, Florida. You could say, the silver users had a “plant” running the CFTC and a transplanted “plant” at the NYMEX!
Just watch Jimmy do exactly what I predict on NYMEX, which so far hasn’t announced to which destination outgoing president Collins is slithering! Considering the background, it’s an easy call to make. Newsome and his comrades will say that only silver users have legitimate need to receive metal. They won’t point out that silver has a history as money that extends back some 5,000 years. Stated differently, monetary use of silver has existed at least 33 years to every one-year of modern industrial use. Therefore, we must point this out, as they will stridently maintain we have no valid right to possess silver! They must view with alarm the silver coinage movements underway in New Hampshire, Nevada, Idaho, and above all, in Mexico. If these questionable regulators and exchange officials show up in silver mining territory, throw a line from John Wayne at them (“Rio Bravo,” 1959)---
“We don’t like tinhorns in this town, mister!”
SILVER NEEDED AS MONEY NOT JUST AS INDUSTRIAL RAW MATERIAL!
We must also stick to our guns about the Founding Fathers Constitutional mandate that silver and gold are to be used as money and therefore, that any unbacked currency is bastardized and degenerate. The so-called speculators and hoarders have the same moral right to own silver as the industrial users---the same right in a supposedly free economy to bid on a raw material and hold it as investment and currency hedge. But the war on silver as money continues in the same attitude described by Business Week, March 23, 1963, page 148---
“The monetary authorities want to get rid of the silver certificates and replace them with Federal Reserve notes. This would tidy up the situation by making the Fed the sole issuer of paper money.”
What a profitable monopoly for the World Money Power are its central banks! All because Congress illegally delegated its monetary powers to a privately owned monopoly! But mere paper cannot endure forever. In the fires of economic crisis, paper will not “tidy up the situation;” it will burn. Precious metals will endure due to their inability to default. The Economist, London, September 21, 1963, page 1014, contained a follow up to the Business Week comments six months earlier---
“Earlier this year the authorities got Congress to authorize the gradual withdrawal of silver certificates from circulation and their replacement with Federal Reserve Notes.”
In the two generations since those illegitimate activities, the FRN has skidded disastrously in purchasing power, while silver has held value in spite of many internationally coordinated attacks against it, and is poised to look like Mr. Universe upside a starvation victim (the FRN). Meantime, with J. Robert Collins ex of the Dallas Federal Reserve Bank the outgoing NYMEX president, let’s see where his next assignment ends up (maybe in Houston where he’s active). The NYMEX/COMEX has in fact acted over the years not only as a means for silver users to hold silver low---it has acted as an agency of monetary suppression for the paper money mob. Fortune magazine, March 1965, page 160 said---
“Most economists are disdainful of arguments for coins of intrinsic value. If silver is scarce, you merely eliminate it from your coins, and no harm is done.”
Get a load of those false geniuses, the university trained economists who attended classes on money given to them by representatives of the World Money Power, so that after graduation, they’d become trained liars seeded in institutions all around the country, misinforming the public! How can you disagree with those who have degrees in economics, they say! These are the same type economists who serve on the CFTC staff! They are to the financial system what genetic defects are to the body! Even a thieving dishonest mechanic would balk at saying a toy car is the real thing, yet economists tell us paper money, by itself, is wealth if issued by a central bank! Newsome will maintain the same administrative attitude over the exchange as Collins. You can trust that Newsome would act to protect Mississippi cattle raisers against derivative abuse, but allow an even playing field for Idaho and Nevada silver producers? Not with this loco trail boss and his servile remarks to the Silver Users Association. It makes you wonder if they stocked his chuck wagon! (Maybe his ranch house too).
Fred Heindl, recently executive director of the Mississippi Agribusiness Council, was convicted of embezzlement (Mississippi Business Journal, April 19, 2004, “Heindl Sentenced for Swindle.”)
Does the Mississippi Agribusiness Council have dealings with Dow Chemical, Silver Users Association member? It’s always instructive if you can find out what’s in the background, or in the shadows. Compared to the sum this dude took, it must be like a grain of sand on a sandy beach miles long, compared to what the SUA has done in removing America’s, and the world’s silver!
Newsome attended the International Derivatives Conference in London and told them on June 18, 2002---
“No rule should be immune to scrutiny, particularly those that serve a legitimate public policy goal.”
Public policies are made by a tiny elite for the purpose of wrecking the finances of those who aren’t members! The International Derivatives Conference, July 2, 2003, mentioned a James Newsome as chairman of AXA Investment Managers, with some 292 billion in Euros assets under management. Is this the same Newsome? See what the rest of you can find out and send details to Mr. Morgan here. Sponsor members of the International Derivatives Conferences include HSBC Bank (Silver Users Association); Bank of Nova Scotia (Silver Users Association); Englehard International (Silver Users Association); Goldman Sachs; J.P. Morgan; NYMEX; Morgan Stanley; Merrill Lynch; Lehman Brothers; Barclays Capital; Standard Bank London; Citigroup; Deutsche Bank; Union Bank of Switzerland (UBS); Prudential Bache; Shanghai Futures Exchange (junior partner only) and, you get the picture---all the familiar names are there. A nickname for this bunch might be, “Noblemen’s League for Brutalitarian Rule,” it would fit them well.
CFTC WHAT CAN YOU TELL US ABOUT SWISS BANKS AND SILVER?
Notice the Swiss bank in this list, and bearing in mind Mr. Butler’s charge that Swiss banks have issued largely unbacked silver certificates, I put the theory to you, since there must have been some real silver there at an earlier point, has the metal, owned by trusting investors, been hypothecated to members of the Silver Users Association? Do Swiss banks keep just a few 1,000 and a few 100-ounce bars, so they can show real metal when asked? But how much can they deliver if demanded? Two to four percent? A review of American ambassadors to Switzerland over the years is highly suggestive of paper money intrigue. Henry J. Taylor, ambassador to Switzerland 1957-1961, received the DuPont Award and was an advisor to the DuPont affiliated Chemical Bank. Taylor was a pulp and paper tycoon, member of the World Money Power and of the British affiliated Society of Colonial Lords of Manors and director of Waldorf-Astoria Hotel of the Astor family (WMP, paper money mob). The Economist, London, June 30, 1962, page 1368, said of the silver market---
“American interest has been felt in the London market, though often indirectly through Swiss agencies.”
We know that American interests in silver want to hold the price down, and have done so since the Coinage Act of February 1873 demonetized silver. We know they’ve raided silver all around the world. Why should Swiss silver be immune from raiding? Have Swiss bankers dumped silver they’re supposed to be holding for investors? Somebody in Switzerland better call for an audit! The London Times, February 1, 1980, page 17, in an article titled, “Swiss Call for Banks to Dampen Gold Price,” we find---
“Dr. Fritz Leutwiler, president of the Swiss National Bank, has once again advocated central bank intervention in the gold market. In today’s issue of Handelsblatt, the West German business daily, Dr. Leutwiler was quoted as saying that central banks should exercise control over the gold price to dampen down inflationary expectations and prevent speculation on the gold market from spreading. A significant factor behind the recent rush into gold was a lack of trust in paper money, including the Deutsche mark and the Swiss franc. What has provoked Dr. Leutwiler to raise the issue of central bank intervention in gold at this time remains a mystery. Neither he nor his spokesman were available for comment in Zurich today. He has suggested central bank intervention in the gold market before, at a meeting of the International Monetary Fund in Belgrade last autumn and again to foreign journalists in Geneva last December. Recent political events fueled speculative fever in the gold and silver markets.”
Leutwiler also served as head of the Bank for International Settlements in Basle, Switzerland, which brings the leading central banks of the world together as the paper money mob they are. Notice his concern for lowering the gold price. But with silver, so intense was, and is, the wall of silence, that this high profile financial figure said nothing about it. That would be as Sir Siegmund Warburg (World Money Power, London branch), Swiss resident and prevailing figure in Union Bank of Switzerland, wanted it. The glaring fact is that, to hold gold down, silver must also be held down. Again I ask, have Swiss banks sent silver to users, which legally belongs to trusting certificate holders? Adding to this suspicion is the fact that in the mid-1980’s, Leutwiler chaired the electrical engineering firm, Brown Boveri, which according to the London Times of February 8, 1980, page 18---
“The company uses 20 tonnes of silver annually in various branches.”
Considering the eye-popping record of silver users raiding stockpiles all over the world for decades, and Butler’s charge about unbacked Swiss bank silver certificates to the extent of maybe one billion ounces, we have to wonder as to the extent of Leutwiler’s dealings, and those of his associates in other central banks. Swiss banks should not be considered a separate power unto themselves. The British Crown, intermarried with other royal European dynasties, currently has Sir Peter Davis on the board of giant UBS (Union Bank of Switzerland). Newsome, what can you tell us about Swiss silver? Has it gone to your cronies in the Silver Users Association?
It’s very clear that Newsome is a combatant for the silver users and the paper money crowd. Bear in mind the direct link we’ve seen previously between CFTC and the Group of Thirty, with several of its members former governors of the Bank of England, and the well known wish of that entity to depress gold and silver prices!
BLOODSUCKERS IN THE SILVER MARKET!
On a more mundane level, as a former (or perhaps still current) cattle raiser in absentia, Newsome understands the need to prevent losses due to disease or other causes. Mississippi has a law empowering cattle ranchers to shoot dogs that attack livestock. While cattle raisers produce their commodity with rights recognized by law, silver miners struggle to produce their commodity in this derivative induced low price environment. In some Spanish speaking countries a pervasive legend exists of a horrendous nightmare creature called the “chupacabra” (“goat sucker”) that attacks animals at night, including larger animals like cattle, and sucks blood. The creature is alleged to be many times the size of the vampire bat. This folklore based monster has been the subject of an “X-Files” episode, and a Mexican image of the chupacabra is as follows---
I really considered titling this essay, “CHUPACABRA HEADS THE NYMEX!” You could say, the Silver Users Association is the “chupacabra” of the silver miners and investors---and certainly of the taxpayers--- and Newsome is way out into the open as to “looking forward to working with them,” as he said. This is a large-scale scandal! A high-ranking Federal Regulator says he wants to cooperate with an organization that works to lower the price of a vital commodity; and now this regulator will move to preside over the largest futures exchange on earth! The users treasonously cause America to be without a military silver reserve, given to them at low prices, then the public eventually has to pay for replacing it at far higher rates? We the taxpayers must demand the Silver Users Association restore the 165 million ounce strategic reserve we once had! At their private expense, and not at taxpayer expense! They should also have to return silver leased from other nations!
Some native Americans, who we erroneously still call “Indians” (Indians are residents of India), have a similar legendary monster beast they call the “shunka-warakin,” meaning “carries off dogs.” In this case, the chupacabra has sucked silver miners profits dry, and the shunka-warakin has carried off the carcass. Mr. Newsome would have a concern with stray dogs forming packs and bringing down steers in his home state, yet we are afflicted with packs of financial operators---those represented at the International Derivatives Conferences, who create derivatives to bring down the silver price, and the gold price. We’re still waiting for a free market price in silver. The silver scene is going to open warfare in coming months. When there is no way remaining to covertly suppress the price (naked shorting kills the price and CFTC denies it) because the physical supply is too low to accommodate that process, look out. Demands will be made of the Federal Government to place a price cap on silver, and for silver purchasing licenses to be issued only to “legitimate industrial users.” When we see a free market in silver prices taking hold in other nations, we must assail Congress to have the same natural right here! If the government price caps silver or if a punitive tax is imposed, hold your metal till the continents drift back together. We need to become politically militant to ensure our rights, and to get America back on a sound money system. Fortune magazine, March 1965, page 160 commented---
“There are also some rather restrictive options being considered, reluctantly. Both melting down silver and transferring it out of the country could be prohibited---although whether the prohibitions could be enforced is another matter. The tax on silver trading profits might be reinstated in an effort to curb speculation. But it is hard to believe that either proposal would solve the hoarding problem, or that either would be popular at the White House.”
They spoke of a “hoarding problem;” implying that only industrial users have rights to silver. The other side of the “hoarding” issue is the understandable wish of reasoning individuals to protect their savings against the ravages of infinitely inflatable irredeemable currency. We should just be stupid, gullible victims!
NEWSOME KNOWS THE LEADING CITIZENS!
Newsome has all the correct links and associations to suit the SUA. As a member of the President’s Working Group on Financial Markets, he undoubtedly was administered an additional dose of “illumination” by Fed chief Sir Alan Greenspan, Knight of the British Empire, agent of the British Crown. In the 1977 film “Empire of the Ants” starring Joan Collins and Robert Lansing (Star Trek guest appearance), vacationers on an isolated island are enslaved by a crew of humans under the influence of giant ants mutated from radioactive waste, and made to work in a sugar refinery run as an energy source for the ants. In order to maintain chemical brainwash control over the humans, guards forced the human workers into a line that led to a glass-enclosed chamber. Upon closing the door, the queen ant emitted a cloud of white gas that befuddled the humans into remaining servile.
Am I suggesting that Greenspan took Newsome to England, where the Queen gassed him with a hypnotic mist to render him servile? Did she dazzle him with rainbow flashes from her fist-sized diamonds, looted from India and South Africa? Indeed I am suggesting that, in a figurative manner. London is the nerve center of global precious metals suppression, though COMEX is the focal point in silver. AIG, notorious Chinese connected silver short of long duration, has as its biggest shareholder, Barclay’s Bank International, London, whose ferocious bird of prey emblem, sharp talons at the ready, is intertwined no less than 3 times with symbols of the British Crown; always out to impoverish the little folks, and to lower American living standards in their drive to bring America back under British rule. A bizarre theory? Not when all our leading financiers are members and all connected to the paper money machine. Ask the Atlantic Council in D.C. about the “theory.” The other members with Newsome of this Working Group are Secretary of the Treasury and chairman of Securities Exchange Commission, positions always held by those in service to the World Money Power. A man’s personal associations are totally relevant to his character and his intentions!
Now that Newsome is moving to Manhattan it would be instructive to see if he turns up as a member of some high-powered clubs there, like the Links, the Economic, Bankers, Wall Street, Manhattan, Dutch Treat, Grolier, Recess, Pinnacle, India House, Union League, River, City Midday, Tuxedo or other such. He may have been a member of similar clubs (Metropolitan, Cosmos, 1925 F Street, Capitol Hill, Burning Tree or other) in the District of Columbia since arriving at CFTC in 1998. These clubs are interlocked with the Society, so that a man need not be a member of the World Money Power, to associate with its members.
NEWSOME, CHINA, AND SILVER DUMPING
Silver dumping or silver leasing, the price effect is the same---down! As head of the CFTC and a commissioner since July 24, 1998, he has to be aware of the uneconomic disposal of silver by various governments and the distortions in the market this causes. At the end of leasing, the upward distortions will vastly exceed the downward price suppression until then. Newsome must realize all these things; therefore, he has not acted as a guardian of public trust to ensure stability. Shortages are disruptive. But when the shortage hits, depending on the war and terrorism picture, excuses may be made that silver must be forfeited by individuals for the good of the nation. Causing problems, blaming them on others, and imposing penalties on the guiltless is standard practice for financial elitists. We must therefore be ready to assail Congress, and to file court challenges. With all the flim-flam “economists” in the CFTC, you’d think they’d be aware of all the silver over the years that has been borrowed from past surpluses and dumped on the market to hold the price down. Then, what happens when that’s at an end? If you read last month’s report on Chinese silver dumping, to those details we can add items like China Weekly Review, January 15, 1938, page 183, “Huge Sales of Silver Under Kung-Morgenthau Agreement.” In The Economist, 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.”
“Free” silver, if you recall, was metal that wasn’t set aside as backing for redemption of silver certificates in circulation. Later they were able to get rid of the silver certs so the users could get at the metal, and so the paper money mob could extend its dominance. Notice also that Russia was enticed or pressured to dump some notable quantity of silver to help hold prices down! No nation appears to have been immune from silver raiding. Seven months later the Economist (April 21, 1962, page 277) had this to say---
“According to Samuel Montagu’s annual bullion review, forward purchases of silver last year reached 50 million ounces. Though arrivals of Chinese silver have not resumed, in view of China’s continuing purchases of grain which cannot be financed by cuts in other imports, further deliveries are likely. Unliquidated holdings of speculators and other miscellaneous sources of silver appear to ensure adequate supplies for this year.”
Did you catch the drift? Those who hold silver as investment (“speculators”) should liquidate in low price environment---let’s all do our part to help the users cheat silver into their hands! The Economist, June 30, 1962, page 1368 said---
“Liquidation of speculative holdings of silver held over from last year’s scramble had recently been barely covering expanding industrial demand. The 66 million ounces thought to have been exported by China last year are now being missed.” The January 19, 1963 Economist, page 241, mentioned “heavy shipments of Chinese silver to the West” and said---
“Excess demand was met mainly by drawing on stocks purchased in 1961. China again sold heavy quantities of silver in 1962.”
The intrigue surrounding silver is amazing in scope. Last month’s report noted Sir Charles Addis of Hong Kong & Shanghai Bank and its Chinese silver dealings, plus its links to the Bank for International Settlements (paper money mob). To that let’s add mention of the obituary in the London Times, August 2, 1983, page 12, of Sir John Addis (son of Sir Charles). Johnny boy became involved in daddy’s stomping ground, China, in 1947 and, in spite of the Communist takeover in late 1949 and the bloodbath-purges of millions of people by Mao Tse-Tung, Addis was removing Chinese artifacts from China to the British Museum in London, of which he served as a trustee. He is said to have had “influential Chinese friends,” the financiers always control! He was allowed to gather information in 1953 on the Chinese military incursion into northern India! He was ambassador to the Philippines, 1963-1970 (another area raided for silver). Finally he was British ambassador to Red China, 1972-1974 where he expressed---
“His admiration for much of what had been accomplished by the new regime.”
You have to question anyone who would express esteem for a Communist state. It was probably based on their beating down the middle class, the central goal of the World Money Power. Newsome, what do you hear from HSBC Bank lately?
NEWSOME SAYS, GIVE THEM WHATEVER THEY WANT!
Remember the Long Term Capital Management debacle? It was a hedge fund that got into trouble and had to be rescued, else the whole financial system appeared at risk. In a speech to the 29th annual International Futures Industry Conference on March 18, 2004, Newsome told the World Money Power what it wanted to hear (proving himself to be promotable)---
“I am troubled by those who are quick to suggest that hedge funds should be more heavily regulated.”
We must assume that to Newsome, if silver longs who want to take physical delivery are regulated into helplessness, then after that, whoever else is regulated is of little importance. This is most outstandingly true of those who create paper silver to depress prices, giving silver users what they want while looting little folks. Presidential Executive Order 13271, issued by Bush on July 9, 2002, created the President’s Corporate Fraud Task Force. Heads of appropriate Federal agencies were inducted, including Newsome. Another member is Michael K. Powell, chairman of the Federal Communications Commission. Powell received a 1999 fellowship from the Aspen Institute, another globalist think-tank run by the World Money Power. Powell was also a law partner in O’Melveny & Myers, Los Angeles, while it was chaired by Warren Christopher, a member of the Society I have referred to, who became Secretary of State in 1993, and afterwards was placed on boards like Chevron, Lockheed, Southern California Edison and First Interstate Bancorporation. Christopher has also served for many years as a trustee of Stanford University, named for Senator Leland Stanford, one of the four partners in Southern Pacific Railroad and other ventures after the Civil War. The others were Mark Hopkins (the smallest in wealth of the 4); Charles Crocker (whose son in law Charles Alexander was a member of the World Money Power); and Collis Huntington. All these fortunes passed into the control of the Society. Myers in “History of the Great American Fortunes” (1907) called Stanford a “colossal looter” (page 527) and said---
“Crocker died in 1888 and left a fortune nominally estimated at $40,000,000. Stanford’s wealth was so great that he, like the Astors, the Vanderbilts, Goulds and other magnates, was forced to the necessity of investing the surplus.”
Myers tells us on page 528---
“The fortune plucked by Huntington was greater than that of the others of the quartet. At his death in 1900, it was estimated at $80 million. His power was gigantic; he controlled the economic life of millions of workers, and dictated the government of a half dozen states. His plunder was intact. In 1894 he was quoted as saying in answer to a report---“I never made any exhibition of $44,000,000 of bonds, although I could have displayed twice as much in amount.”
Interesting how in the background of a task force against corporate fraud, exist historical swindles of near-cosmic scale! When we scrutinize an official like Newsome, we find a man who says some things, but does others; he has overseen the CFTC as it warns against manipulation, yet runs with a faction of pirates the likes of which no fiction ever matched. Newsome was one of the speakers at the 2001 Burgenstock Conference in Switzerland, going on since 1980. Fritz Leutwiler, Swiss central banker and silver user we read about above (deceased 1997), was a Burgenstock personality. These conferences are about derivatives. Other speakers included Sir Brian Williamson (WMP) chairman of London International Financial Futures & Options Exchange, and associated with the Bank of Ireland 1990-1999 (central banker); Scott Gordon, chairman Chicago Mercantile Exchange and member advisory committee to the Center for the Study of Law and Financial Markets (where Michael Gorham just went to roost, beware of his “droppings”) at Illinois Institute of Technology; Daniel Gleizer of the Central Bank of Brazil, formerly with International Monetary Fund and the Mellon/Warburg run Credit Suisse First Boston; Robert Paul, general counsel to CFTC, 1999-2001; Clive Furness ex of Goldman Sachs; Paul Meier with UBS Warburg; Roy Leighton (WMP) chairman Credit Lyonnais, a Britisher with 33 years standing in the City of London; and William Brodsky, chairman, Chicago Board of Options Exchange, director Swiss Futures & Options Association, Futures Industry Association and member international advisory committee to Federal Reserve Bank of New York. Newsome is associated with anti-precious metals central bankers, and with financial institution personalities who provide various services to Silver Users Association companies. Watch Newsome as he declares “speculators” cannot take delivery of silver! The new CFTC chief will back him up, and an Executive Order may also be issued! We recognize your motives, Newsome! You take care of them, they take care of you! Pressure has been building for a long time to exclude everyone but industrial users from possession of physical silver. The London Times, March 29, 1980, page 17 said---
“Some experts stress that there are real questions as to whether silver is a commodity which should be traded in futures, given the frequent desire of investors in the markets to take physical delivery of the metal and the lack of large scale availability.”
The experts referenced in the article were probably water boys for the Silver Users Association. Notice twenty four years ago---nearly a quarter century or a generation past---there was “lack of large scale availability” of silver, meaning tightness caused by industrial demand combined with too many years of low prices leading up to 79-80, resulted in no surplus metal available, with the highly secretive leasing business, always operating behind a tenebrous pall of silence--- making up the deficit! Industrial users should be told there might be enough silver for the rest of us to also own some for MONETARY PURPOSES, and the deficit might be eliminated, with sufficiently higher prices. Except they are dead set against higher prices, so blindly so that they soon face shutting down for lack of availability. Butler’s observation that silver to cover the deficit hasn’t been coming from COMEX stocks, but elsewhere, and that eventually the COMEX silver will be necessary to users, is bull’s-eye analysis. I caution you that holding silver there could end up like not having any silver at all. Watch Newsome string a barbed-wire fence around COMEX silver, accompanied by appropriate Federal rulings! The silver range war is coming. Those who hold their own metal are likeliest to benefit thereby.
NEWSOME SEES THINGS THE RIGHT WAY!
At the International Futures Industry Conference, March 15, 2002 (see www.cftc.gov/opa/speeches02/opanewsm-26.htm)
Newsome said---
“I agree with recent statements by chairmen Greenspan and Pitt. With respect to the Patriot Act, I want to assure you that, while the Treasury Department has the lead role in developing regulations to implement the anti-money laundering provisions of the Act, the Commission has and will continue to be consulted and to participate actively in the rulemaking process. Our staff is working closely with Treasury, other regulators, and market participants to ensure that the goals of this legislation are achieved and are achieved in a manner that is fair and equitable across industry sectors.
Notice his redundant use of “achieved,” Jimmy, please spend time at a Toastmasters Club! When he said he agreed with Greenspan and Pitt, it was about the Commodity Futures Modernization Act (CFMA). This was before Pitt resigned the helm of the Securities Exchange Commission under fire, because his administration did virtually nothing to shield investors from Wall Street stock swindles, including “analyst” Jack Grubman, five of whose stock recommendations lost over 99% of value! So Newsome thought Pitt was doing a good job, if he could agree with his views. Then there’s Greenspan; Newsome agrees with him too, probably that silver prices are best suppressed. As for the Patriot Act and provisions against money laundering, watch them try to cast their filthy net over honest metals investors. After all, anyone who tries to shelter themselves from currency decay is definitely not patriotic, and could even be a terrorist! To the contrary, it is gold and silver that are truly American, and the Federal Reserve is a destructive English import! The extent of British influence in our foreign and domestic policy is off the scale and if people had a grasp of it, ten million protestors would descend on Washington! Colin Powell Secretary of State was inducted into the centuries old (1725) Order of the Bath by the Queen in 1993. It is a reference to the ceremonial bath of purification taken by English knights after conquering lands for the Crown. The purification was not to cleanse themselves of carnage and murder---it was to decontaminate themselves from their victims! Here we are with the British Empire in Iraq, and carrying out a metals suppression in cooperation with them.
Newsome addressed the Global Energy Management Institute at the University of Houston on July 9, 2003 and remarked---
“The Commission’s mission is twofold—to foster competitive and financially sound markets and to protect market users and the public from fraud, manipulation and abusive trading practices. In seeking to fulfill that mission, the Commission focuses on issues of market integrity. We seek to protect the economic integrity of the markets so that they may operate free from manipulation.”
Read the series of letters by Butler to Newsome in Butler’s archives and you’ll see how the silver problem is officially ignored. No one could evade the way these regulators do without being champion liars. My take on it was as follows---
Newsome sez he’s tired of Butler’s silver prattle,
Jimmy sez, the public’s dumb as his Mississippi cattle,
He sez, ignore Butler, he just likes to tattle,
Does Newsome still use his toy baby rattle?
Let’s change the toy baby rattle thing to rattlesnake rattle with loaded venom glands at the other end! The CFTC is a fire department that isn’t interested in putting out certain fires. One of the board members of this Global Energy Management Institute which Newsome addressed last summer was J. Robert Collins Jr., now the outgoing NYMEX president, formerly with the Federal Reserve Bank of Dallas, who Newsome is relieving at NYMEX. Wouldn’t it be funny if Collins became new CFTC chief! As a line spoken by the Mexican bandit Tuco Ramirez (Eli Wallach) in “The Good, The Bad and the Ugly” (Clint Eastwood, 1965) has it---
“Who the
hell is that? One bastard goes in, another comes out!”
Jimmy, if you read this, you can use the line from the
gladiator trainer to Kirk Douglas in “Spartacus” (1960)---
“I feel
you don’t like me!”
To which I’d have to quote John Phillip Law as the avenger
in “Death Rides A Horse” (1968) to the outlaw bandit---
“You got
a stupid face but you get it!”
Newsome’s not just a backward Mississippi hick!
Look! He
runs with the World Money Power clique!
Installing him as president of the NYMEX,
Continue to maintain the silver users hex!
Turning small investors into financial wrecks!
Newsome
promised silver users their desire,
Looks like he’s just a mercenary for hire!
Don’t appeal to him, he’s already taken sides,
Little folks money washes away on NYMEX tides,
Taking small investors for more losing rides!
Cattleman
Newsome as president, with SUA’s expertise,
We ask--- will COMEX silver get mad cow disease?
Only users can get silver, Newsome will rule,
Let silver miners keel over dead like an overworked mule,
Flies landing on him, ants lapping up his drool!
Only it
ain’t gonna end up quite like that,
Let Newsome be exposed, Frankland’s a gnawing rat,
No more futures, silver will trade in cash market alone,
As the users are withered by the price cyclone,
The cost? Maybe some diamonds from Sierra Leone!