Examining "Unprecedented Demand" for Gold Eagles
Earlier this week, the United States Mint took further actions to meet the increased demand for gold and silver bullion coins. This included production halts for certain bullion offerings and the continued allocation for one ounce Gold and Silver American Eagle coins.
Within the memorandum sent to authorized bullion purchasers, the US Mint specifically stated, "gold and silver demand is unprecedented." Throughout the course of this year, the Mint has provided similar explanations each time a new suspension or allocation program went into effect. While sales of Silver Eagle coins are higher than any other year in history, the sales of Gold Eagle coins are far below their peak.
The following table shows the ounces of gold sold by the United States Mint in the form of American Eagle Gold bullion coins. These figures are taken from the US Mint website. You can visit the link for monthly data, as well as the figures for Silver and Platinum Eagles.
American Gold Eagle Bullion Sales (ounces)
| 1986 | 1,787,750 |
| 1987 | 1,253,000 |
| 1988 | 851,000 |
| 1989 | 839,000 |
| 1990 | 715,000 |
| 1991 | 472,000 |
| 1992 | 638,600 |
| 1993 | 796,000 |
| 1994 | 559,500 |
| 1995 | 600,500 |
| 1996 | 729,500 |
| 1997 | 1,317,000 |
| 1998 | 1,839,500 |
| 1999 | 2,055,500 |
| 2000 | 164,500 |
| 2001 | 325,000 |
| 2002 | 315,000 |
| 2003 | 484,500 |
| 2004 | 536,000 |
| 2005 | 449,000 |
| 2006 | 261,000 |
| 2007 | 198,500 |
| 2008 | 492,000* |
While the number of ounces of gold sold has already more than doubled from last year, it still does not approach the levels reached during the several prior years, most notably 1998 and 1999.
In terms of monthly demand, during 2008 the highest number of ounces sold was in September at 113,000 ounces. During 1998 and 1999, there were seven months with sales in excess of 200,000 ounces. The highest monthly sales total occurred in October 1998 at 288,500 ounces.
The demand for American Gold Eagles is clearly not unprecedented. What's actually unprecedented is the suspension and allocation of Gold Eagle coins. Even amidst the booming demand of the pre-Y2K years, the US Mint never resorted to suspensions or allocation programs. Why is the US Mint having so much trouble keeping pace with demand this year?
The mainstream press has recently given coverage to the US Mint's suspensions and allocations of gold and silver bullion coins. The stories have always reported about the US Mint's inability to produce enough coins to meet demand. Given that the Mint has been able to produce far greater quantities of gold bullion coins in the past, I think the real story is the Mint's inability to obtain the physical gold needed for the coins.
But that just raises another question: With unfulfilled physical demand, why has the market price of gold remained stagnant? I think we will see this situation play out with some interesting consequences during the remainder of the year.
Get the latest Coin Collecting news.
Labels: Gold Eagles, US Mint
posted by Mint News Blog @ 10:56 AM
14 Comments:
Amen brother. Amen. I think there's something rotten in Denmark.
You ask, "Why is the US Mint having so much trouble keeping pace with demand this year?" The answer is simple:
The US Mint is run by a political appointee and the deputy director, who is not a political appointee, ran a water and sewer system in the Maryland suburbs of DC--and did not do a very good job at that (I live in the area). Neither gentlemen have experience with running a manufacturing facility or has demonstrated an understanding the concept of supply chain management. Thus, their lack of experience in this area shows in their ability to run the world's largest coin manufacturing facility in the world.
Simply, it's just plain incompetence.
Scott you have a very simplistic way of looking at things. As if these two gentlemen you were referring to in your article could actually singlehandedly affect the mint's production quota, sourcing, or lack thereof. The problem is much larger than two incompetent stooges asleep at the wheel. If your argument is correct, then why are several other countries and their respective mints also encountering the same problem? There are shortages in India, and the World’s Largest Gold Refiner Ran Out of Krugerrands. There is a worldwide shortage my firend. The answer is not as simple as your insulated perception may think.
The stats on the circulation numbers are very low in comparison to past records of output. Prior to 1933, the US mints pumped out millions of coins in a given year as the data above also suggests.
Around the world in countries like Germany, their mints get their gold directly from their own reserves and they have a few thousand TONS!
The US mint claims that it is getting its raw materials from refiners.
The BILLION dollar question in my mind is where is all of the GOLD that was confiscated in the 30's that is supposed to be in Fort Knox and why is this GOLD not being used to meet the demand?
Folks, nothing happens by accident, it is all planned, controlled and well thought out. There are no coincidences...
that is weird ... i think they want to hord it because the price will skyrocket when the world switches over to a global, gold-backed currency
>>>i think they want to hord it because the price will skyrocket when the world switches over to a global, gold-backed currency<<<
The world banks will NEVER switch to a gold-backed currency. When currency is backed by gold (or silver or anything else), governments can't freely print money to inflate their way out of problems.
The current bailout is a great example. How is the gov't going to get 700 Billion? Print money. If our money was backed by gold, they'd have to obtain the gold before printing the money. Not gonna happen.
Also, by law the United States gold and silver coins must be made with gold and silver mined in the US.
The mint can not buy gold or silver mined elsewhere.
I guess not being "in the know" as to the motives which drive gold, I find most of these posts bordering on Conspiracy Theories. Can anyone who has posted a comment to this article or, even, the author himself, explicitly state their ideas and not rely on innuendo?
Well, have any of you asked the question: "Does this government still own gold and silver reserves?" If you look at it, why is there such a secrecy to reveal the actual gold if it still exisys. My opinion - The US government has no gold left to mint. Sounds bizzar? Well, do some research and you will find all kinda of excuses why the US public should not really know where the gold is, Doesn't it make you think?
Maybe the Mint News Blog" can give you the answers if you don't want to research it yourself.
I guess not being "in the know" as to the motives which drive gold, I find most of these posts bordering on Conspiracy Theories. Can anyone who has posted a comment to this article or, even, the author himself, explicitly state their ideas and not rely on innuendo?
October 11, 2008 2:01 PM
The American people have GOT to UNITE and awaken from their catatonic comas and sleepwalking to their demise, and discover for themselves WHAT and WHO is behind this planned failure of our economy and deliberate destruction of our formerly healthy, Western nations.
It remains my fervent hope that the rapidly unravelling collapse of the financial pirate robber barons' fiat money system (criminal cabal otherwise known as The Federal Reserve) will be instrumental in bringing the Jew gangster banksters tottering, illicit financial power structure crashing down, and we can wrest our country back from these timeless parasites.
An excerpt:
"Now that England’s surrogate successor, the US, has completely removed gold from the
debt-based money first issued by the Bank of England and now issued by all central
banks, the current debt-based global economy, a house of cards, a monetary abomination
of historic proportions out of which bankers have sucked all remaining productivity and
for-profit, will fall—a fall which will denote the end of England’s surrogate dominance and
the collapse of its banks.
The bankers are bankrupt
Who would have thought
What once was so
Now is not
The guard is changing
The kingdom’s exposed
Its coffer’s empty
Its exit closed
Time is now moving
Towards an end unknown
May the Hand that guides us
Lead us home
Such will be the end of fiat money. No system of fiat money has every survived and now,
for the first time in history, all currencies of all countries are fiat. This is the economic
equivalent of everyone having AIDS. Its end will be catastrophic. The collapse of paper
money as store of value is as unimaginable as it is now virtually inevitable."
http://www.drschoon.com/articles/GoldAndTheCollapseOfPaperMoney.pdf
Hope you'll take the time to read this outstanding, hands-down-best financial analysis of our unfurling economic meltdown and implosion. The first link is to the article I'm recommending (rather lengthy, but well worth the time), and I'm including a few other complementary links. Just read the first one if nothing else, but if time permits, peruse the others as well (DO NOTE: The author of the first link notes that the actual debt hanging over a typical American family's head is a million dollars and counting. The article from USA Today regarding how our federal Leviathan cooks the books was from a little over a year ago ("Rules 'hiding' trillions in debt Liability $516,348 per U.S. household") and indicates how alarming and exponential the growth of this unsustainable debt actually is (and THIS is NOT taking into account that the banksters just effectively nationalized their private banking system by latching the unfathomable debt of Fannie Mae/Freddie Mac onto the federal debt and hence, once more the taxpayers)
Our elites knew that the phony “free trade” agreements, a worthless fiat monetary policy and counterfeit money printing presses, and massive welfare state would lead to the eventual financial collapse of the U.S. The billionaire/trillionaire bankers at the top of this scheme have enriched their coffers beyond anyone’s wildest fantasies by our debt enslavement. In an incredible story on Yahoo a couple of months back, one small-time player, another Jew Paulson, has made off with 3.7 Billion dollar profit by “gambling” on the sub-prime mortgage fiasco (See http://news.yahoo.com/s/nm/20080416/bs_nm/hedge_earnings_dc.)
How we must ask does someone profit so handsomely off of others’ misery and destruction of livelihoods? We know the game plan now. This planned failure of our economy and the unsustainable, parasitic, welfare state will lead to unprecedented suffering of Americans who will of course clamour for rescue from their federal tormenters who will gleefully comply.
"Amero" and "North American Union" (see Dr. Jerome Corsi's "The Late Great USA" http://shop.wnd.com/store/item.asp?DEPARTMENT_ID=7&SUBDEPARTMENT_ID=29&ITEM_ID=2261) to the rescue.
All the while, the Zionist robber barons have completely plundered the country of its former wealth and its citizens rendered into debt slavery, third worldism, and misery. Just as they illegally saddled the hapless American public with the multi-billion dollar Mexican “bail-out” and the S & L debacle of the 80’s, they are piggybacking this incalculable mortgage mess onto the sinking, hanging-by-a-thread American middle-class cash cow. Just two quotes from two articles posted on Rense
and Drudge show how utterly galling and brazen their behavior has become:
“Such a move would involve the USE OF PUBLIC FUNDS to shore up the market in a key financial instrument and restore confidence by ending the current vicious circle of forced sales, falling prices and weakening balance sheets.”
http://www.ft.com/cms/s/0/a233faa2-f789-11dc-ac40-000077b07658.html?nclick_check
Want more proof of the global New World Order being planned and unfurling for the world's inferiors? Straight from the horses' mouth ("by their words and deeds ye shall know them," emphasis mine):
“Former Fed Chairman Paul A. Volcker, who broke the back of high inflation in the early 1980s, told BusinessWeek on Mar. 19: “If you have a closely integrated world economy with free trade and free movements of capital, the logical complement of that is a GLOBAL CURRENCY.”
http://www.businessweek.com/magazine/content/08_13/b4077028370532.htm?chan=rss_topStories_ssi_5
Volcker was the Chairman in charge of the Fed. Reserve in the 80's who orchestrated the taxpayer funded bailout of Mexico. I read an exceptional analysis of the Mexican meltdown in the exemplary book by two legal scholars "Abandoned: The Betrayal of the American Middle Class Since WWIl". Like everything financial in this thrust for the totalitarian NWO, nothing is by accident. The Mexican plunge in the devaluation of their currency was swift, catching the Mexican common man by surprise, engineered by the usual culprits, and celebrated with great fanfare in the aftermath by the banking interests following their financial coup d’ tete. Dom Perignon corks popping, Cuban cigars alit, computer wire-transfers of ill-gained wealth to Grand Cayman & Litchenstein banks…They’d succeeded in putting the Big One over on a dumbed-down American electorate who in all fairness have never had a medium (until the advent of the internet anyway, but most are still slumbering whilst Rome burns) dedicated to informing them of the ongoing seduction and fiscal rape. Our pillaged-over carcass of a once mighty nation was likewise PLANNED by the suicide engineers…May we NEVER forget it...
Wide awake and fooled no more (and dedicated to disseminating the truth to my fellow Americans),
The best website/source for the truth about our fiscal plight/tsunami: http://www.rense.com . I cannot sing enough praises as to the worthiness of this outstanding website. Jeff Rense, its' founder, is a former television producer who knows the truth about Jewish dominance and control of our media, and is host to some of the BEST writers who have shucked the chains that have long bound them and have avowed to fight the good fight. In other words, they are modern day Patrick Henry's. There are many, many smart people who work in the complex, arcane world of contemporary finance who see inside the belly of the Beast and are privy to the machinations of this shakedown extraordinaire, and choose to no longer remain silent about this deliberate destruction of the West. I can only point my fellow Americans' to the fountain of truth; I can't make them partake of it:
Taxpayers Forced To
Bailout Zionist Gangsters
The Financial Crisis On Wall Street &
The Gang of Zionists Behind 9-11
By Christopher Bollyn
9-21-8
http://www.rense.com/general83/bdc.htm (CONNECT-THE-DOTS 101)
HOW THE U.S. WRECKED THE WORLD'S MOST ROBUST ECONOMY AND IMPOVERISHED ITS OWN PEOPLE
http://www.strike-the-root.com/71/allport/allport10.html
PURGE THE SYSTEM OF ITS FAILURES (ONE OF MY FAVORITE FINANCIAL WRITERS, BOB CHAPMAN)
http://newsfromthewest.blogspot.com/2008/09/purge-system-of-its-failures.html
Hyperinflationary Depression
http://www.kitco.com/ind/Ruff/ruff_apr212008.html
DESTRUCTION BY PARADIGM
http://newsfromthewest.blogspot.com/2008/07/destruction-by-paradigm.html
U.S. DROPPED TO THIRD-WORLD STATUS
TERRIFIC VIDEO OF DR. RON PAUL ON OUR FIAT MONEY SYSTEM
http://goldsilver.com/video_player.php?video_id=8&cat_id=2&ss=e93f48a38cb0cdbbacdebebbe2950392
WHY GOLD COULD HIT $8,500 AN OUNCE
http://www.moneyweek.com/file/48581/why-gold-could-hit-8500-an-ounce.html
Feds accused of gold-price manipulation
Alleged objective to 'conceal the mismanagement of the U.S. dollar' by Dr. Jerome Corsi
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=45724
Half of gold in central banks gone?
Watchdog: 'We want to expose and stop the manipulation' by Dr. Jerome Corsi
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=45782
THE WORLD STARVES AS ZIONIST BANKERS GROW FAT
Commentary
By Michael James in Germany
http://www.rense.com/general81/dht.htm
http://www.rense.com/general83/veon.htm
THE REAL RATE OF INFLATION IS 13%
http://www.infowars.com/?p=4189
National Debt Clock
http://brillig.com/debt_clock/
COST OF IRAQ WAR DEBT CLOCK
http://watchingwashington.blogspot.com/2008/03/cost-of-war.html
"Drastic decline in dollar's purchasing power"
http://www.financialsense.com/fsu/editorials/andros/2007/images/0422.h4.jpg
“Top Government Official says U.S. on the verge of economic collapse”
http://www.truthout.org/cgi-bin/artman/exec/view.cgi/65/23469
"Rules 'hiding' trillions in debt
Liability $516,348 per U.S. household"
By Dennis Cauchon
USA TODAY
The federal government recorded a $1.3 trillion loss last year — far more than the official $248 billion deficit — when corporate-style accounting standards are used, a USA TODAY
"TAXPAYERS ON THE HOOK FOR 59 TRILLION:"
http://www.usatoday.com/news/Washington/2007-05-28-federal-budget_N.htm
THE ASTONISHING DIMENSIONS OF US DEBT
http://www.gotomyvideo.com/Billions-V2/player.html
THE FINAL DESTRUCTION OF THE MIDDLE CLASS (THE GREAT WEALTH TRANSER OF 2008)
http://www.rense.com/general83/class.htm
PAULSON COMMITS TRILLIONS OF TAX PAYER DOLLARS TO THE MOTHER OF ALL BAILOUTS
http://www.marketoracle.co.uk/Article6355.html
Billions for Bankers--Debts for the People
by Pastor Sheldon Emry
http://www.justiceplus.org/bankers.htm
Panic, Consolidate, Game Over
http://www.321gold.com/editorials/willie/willie091908.html
THE WEB OF DEBT (CHAPTER 1)
http://www.webofdebt.com/excerpts/chapter-1.php
MONEY AS DEBT (AN EXCELLENT 47 MIN. VIDEO) Paul Grignon's 47-minute animated presentation of "Money as Debt" tells in very simple and effective graphic terms what money is and how it is being created. It is an entertaining way to get the message out. The Cowichan Citizens Coalition and its "Duncan Initiative" received high praise from those who previewed it. I recommend it as a painless but hard-hitting educational tool and encourage the widest distribution and use by all groups concerned with the present unsustainable monetary system in Canada and the United States.«
http://video.google.com/videoplay?docid=-9050474362583451279
The Money Masters - How International Bankers Gained Control of America (Incredibly important video for understanding the criminality of The Federal Reserve System and how to survive and protect your assets from the ensuing unprecedented crash; other important videos on this topic are available on youtube using "The Creature from Jekyll Island: Edward Griffith takes a Second Look at the Federal Reserve in the search engine
THE MONEY MASTERS
http://www.informationliberation.com/?id=8702
March 17, 2008 10:54 AM
OR the absolute BEST written account is Worldnetdaily's
July 2006 – 'THE FEDERAL RESERVE: FRAUD OF THE CENTURY' - THIS ONE YOU HAVE TO PURCHASE, BUT WELL WORTH THE 6.00 PURCHASE PRICE
http://shop.wnd.com/store/item.asp?ITEM_ID=1889
WESTERN DEMOCRACIES ARE NOW TYRANNIES
http://www.marketoracle.co.uk/Article3596.html
The shocking truth about inflation
Government says rate is low, so why do food and energy cost so much?
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=61663
What's America's real inflation rate?
If rate is so low, how come food and energy cost so much? (My Note: Because your federal Leviathan LIES and manipulates ALL data important to the American people)
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=59409
--------------------------------------------------------------------------------
Posted: March 19, 2008
Inflation called No. 1 threat
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=59409
Meet Benjamin Freedman, American patriot extraordinaire. A former Jew/elitist occupying the highest echelons of our government and privy to its machinations who late in life converted to Christianity and his famous speech to the American people follows in which he valiantly tried to warn his fellow citizens' of this diobolical malignancy infesting our government. The speech is on video and written text.
http://www.benjaminfreedman.net/
THE MURDER OF AMERICA
http://www.texemarrs.com/082006/murder_of_america.htm
FOR MORE ON THE NORTH AMERICAN UNION TRANSPIRING RIGHT UNDER THE AMERICAN PEOPLES' NOSES, SEE DR. JEROME CORSI'S "THE LATE GREAT USA" AVAILABLE AT WORLDNETDAILY
http://shop.wnd.com/store/item.asp?DEPARTMENT_ID=7&SUBDEPARTMENT_ID=29&ITEM_ID=2261)
AWESOME INTERVIEW OF BRO. NATHANAEL (JEW CONVERTED TO CHRISTIANITY & TRUTHTELLER/FOUNDER OF http://www.realjewnews.com ) BY MICHAEL JAMES - NOT TO BE MISSED
JEWISH BANKERS AND THEIR AGENDA
http://www.realjewnews.com/?p=66
http://thetruthseeker.co.uk/article.asp?ID=8380
THINK YOUR PRESS IS "FREE?" "Who rules America" (on oligopolistic ownership of our media; Though purportedly comprising only 2-3% of our population, an astonishing handful of Jews own & control all newspapers, television networks and book publishing houses and have for approx. 70 years)
http://www.natall.com/who-rules-america/
SIX JEWISH COMPANIES OWN 96 PERCENT OF ALL MEDIA
http://www.jewwatch.com/jew-controlledpress-6-jewish-companies-96-percent-of-all-media.html
WHO OWNS THE UNCONSTITUTIONAL FEDERAL RESERVE SYSTEM AND BENEFITS FROM THE AMERICAN PEOPLES' PERPETUAL DEBT ENSLAVEMENT OF THE MASSIVE, BANKRUPTED WELFARE STATE AND WAR-MONGERING BY TREASONOUS ELITES? OUR DEBT BONDAGE BANKROLLS UNIMAGINABLE WEALTH FOR THESE TIMELESS USURERS)
http://newsfromthewest.blogspot.com/2008/07/jews-holding-purse-strings-of-us.html
http://newsfromthewest.blogspot.com/search?q=Federal+Reserve
DOES GOLDMAN SACHS RUN THE WORLD?"
http://www.economicsbriefing.com/2007/10/does-goldman-sachs-run-world.html
"Rothschilds and Rockefellers - Trillionaires of the World"
http://www.rense.com/general79/tril.htm
FURY AT LEMAN 2.5 BILLION BONUS
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4795072.ece
ASSASSINATION OF PRESIDENT MCKINLEY WAS BY JEWS
Assassination Of President McKinley Was By Jews!
http://www.realjewnews.com/?p=169
WHO'S BEHIND DISARMING THE AMERICAN PEOPLE?
(http://newsfromthewest.blogspot.com/2008/03/jewish-supremacism-and-gun-control.html)
http://judicial-inc.biz/8.L,adl_is_fighting_for_gun_control.htm
"The Jewish Gun Grabbers" http://www.youtube.com/watch?v=9AiQJEk-STo
HISTORY OF JEWISH EXPULSIONS
http://www.thebirdman.org/Index/Others/Others-Doc-Jews/+Doc-Jews-Expulsions&Antisemitism/JewishExpulsionsThruHistoryInDateOrder.htm
WHAT FAMOUS MEN SAID ABOUT THE JEWS
http://newsfromthewest.blogspot.com/2008/01/politically-incorrect-quotes-from.html
The Truth About the Talmud
A Documented Exposé of Supremacist Rabbinic Hate Literature
By Warrant of John 18:37, Galatians 4:16
Copyright ©2000-2006 by Michael A. Hoffman II All Rights Reserved
MY NOTE: (FOR THE GOD-AWFUL, HORRIFIC TRUTH ABOUT WHAT THE SUPREMACIST JEWS' HOLIEST BOOK TEACHES AND SANCTIONS REGARDING GENTILES; IT IS PURE HATRED CODIFIED INTO STONE THAT ADVOCATES STEALING FROM, RAPING, AND MASS MURDER OF WHITES WHO ARE NOTHING MORE THAN BEASTS TO BE FLEECED AND EXPLOITED FOR THEIR SELF-AGGRANDIZEMENT )
http://www.revisionisthistory.org/talmudtruth.html
ISRAEL'S 'RIGHT TO EXIST'
http://ussliberty.wordpress.com/2008/07/29/israel%e2%80%99s-%e2%80%98right-to-exist%e2%80%99/
The Life of American Jew in Racist, Marxist Israel
http://www.jackbernstein.org/
HOW ORGANIZED ZIONISM STARTED WWII
http://newsfromthewest.blogspot.com/2008/05/origins-of-world-war-2.html
The Fleecing of America: U.S. Tax Payers give $7 million to the bandit State of Israel each day
http://newsfromthewest.blogspot.com/2008/04/fleecing-of-america-us-tax-payers-give.html
Quotes On Banking and the Federal Reserve System FRAUD
"The entire taxing and monetary systems are hereby placed under the U.C.C. (Uniform Commercial Code)." -- The Federal Tax Lien Act of 1966
"The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." -- Rothschild Brothers of London, 1863
"Give me control of a nation's money and I care not who makes it's laws."-- Mayer Amschel Bauer Rothschild
"Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States." -- Sen. Barry Goldwater (Rep. AR)
"Whoever controls the volume of money in any country is absolute master of all industry and commerce." -- James A. Garfield, President of the United States
"Banks lend by creating credit. (ledger-entry credit, monetized debt) They create the means of payment out of nothing." -- Ralph M. Hawtrey, Secretary of the British Treasury
"To expose a 15 Trillion dollar ripoff of the American people by the stockholders of the 1000 largest corporations over the last 100 years will be a tall order of business." -- Buckminster Fuller
"Every Congressman, every Senator knows precisely what causes inflation...but can't, [won't] support the drastic reforms to stop it [repeal of the Federal Reserve Act] because it could cost him his job." -- Robert A. Heinlein, Expanded Universe
"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford
"The regional Federal Reserve banks are not government agencies. ...but are independent, privately owned and locally controlled corporations." -- Lewis vs. United States, 680 F. 2d 1239 9th Circuit 1982
"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it." -- Congressman Louis T. McFadden in 1932 (Rep. Pa)
"The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International bankers." -- Congressman Louis T. McFadden (Rep. Pa)
"Some [Most] people think the Federal Reserve Banks are the United States government's institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers." -- Congressional Record 12595-12603 -- Louis T. McFadden, Chairman of the Committee on Banking and Currency (12 years) June 10, 1932
"[Every circulating FRN] represents a one dollar debt to the Federal Reserve system." -- Money Facts, House Banking and Currency Committee
"...the increase in the assets of the Federal Reserve banks from 143 million dollars in 1913 to 45 billion dollars in 1949 went directly to the private stockholders of the [federal reserve] banks." -- Eustace Mullins
"As soon as Mr. Roosevelt took office, the Federal Reserve began to buy government securities at the rate of ten million dollars a week for 10 weeks, and created one hundred million dollars in new [checkbook] currency, which alleviated the critical famine of money and credit, and the factories started hiring people again." -- Eustace Mullins
"By this means government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft." -- British Lord John Maynard Keynes (the father of 'Keynesian Economics' which our nation now endures) in his book "THE ECONOMIC CONSEQUENCES OF THE PEACE" (1920).
"These 12 corporations together cover the whole country and monopolize and use for private gain every dollar of the public currency..." -- Mr. Crozier of Cincinnati, before Senate Banking and Currency Committee - 1913
"A great industrial nation is controlled by it's system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world-- no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men." -- President Woodrow Wilson
"We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system.... It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." -- Robert H. Hamphill, Atlanta Federal Reserve Bank
"The Federal Reserve Banks are not federal instrumentalities..." -- Lewis vs. United States 9th Circuit 1992
"The Federal Reserve banks, while not part of the government,..." -- United States budget for 1991 and 1992 part 7, page 10
"The Federal Reserve bank buys government bonds without one penny..." -- Congressman Wright Patman, Congressional Record, Sept 30, 1941
"The Federal Reserve system pays the U.S. Treasury 020.60 per thousand notes -- a little over 2 cents each-- without regard to the face value of the note. Federal Reserve Notes, incidentally, are the only type of currency now produced for circulation. They are printed exclusively by the Treasury's Bureau of Engraving and Printing, and the $20.60 per thousand price reflects the Bureau's full cost of production. Federal Reserve Notes are printed in 01, 02, 05, 10, 20, 50, and 100 dollar denominations only; notes of 500, 1000, 5000, and 10,000 denominations were last printed in 1945." -- Donald J. Winn, Assistant to the Board of Governors of the Federal Reserve system
"Neither paper currency nor deposits have value as commodities, intrinsically, a 'dollar' bill is just a piece of paper. Deposits are merely book entries." -- Modern Money Mechanics Workbook, Federal Reserve Bank of Chicago, 1975
"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill." -- Charles A. Lindbergh, Sr. , 1913
"From now on, depressions will be scientifically created." -- Congressman Charles A. Lindbergh Sr. , 1913
"The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money" -- Charles A. Lindbergh Sr., 1923
"The [Federal Reserve Act] as it stands seems to me to open the way to a vast inflation of the currency... I do not like to think that any law can be passed that will make it possible to submerge the gold standard in a flood of irredeemable paper currency." -- Henry Cabot Lodge Sr., 1913
[Note – From 1913 until now inflation of the dollar has been 2950%. A 1913 dollar would now be worth $.034. When I became a wage earner in 1950 I could buy a full breakfast, eggs, sausage, hashbrowns, shortstack, juice, and coffee for $.39. This morning I paid $9.60 for the same, an inflation of 2460%]
"When you or I write a check there must be sufficient funds in our account to cover the check, but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money." -- Putting it simply, Boston Federal Reserve Bank
"There is a distinction between a 'debt discharged' and a debt 'paid'. When discharged, the debt still exists though divested of it's charter as a legal obligation during the operation of the discharge, something of the original vitality of the debt continues to exist, which may be transfered, even though the transferee takes it subject to it's disability incident to the discharge." -- Stanek vs. White, 172 Minn.390, 215 N.W. 784
"I have never seen more Senators express discontent with their jobs....I think the major cause is that, deep down in our hearts, we have been accomplices in doing something terrible and unforgivable to our wonderful country. Deep down in our heart, we know that we have given our children a legacy of bankruptcy. We have defrauded our country to get ourselves elected." -- John Danforth (R-Mo)
"Capital must protect itself in every way...Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principal men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd." -- Taken from the Civil Servants' Year Book, "The Organizer" January 1934.
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." -- Thomas Jefferson, U.S. President.
"If Congress has the right [it doesn't] to issue paper money [currency], it was given to them to be used by...[the government] and not to be delegated to individuals or corporations." -- President Andrew Jackson, Vetoed Bank Bill of 1836
"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it's issuance." -- James Madison
"Should government refrain from regulation (taxation), the worthlessness of the money becomes apparent and the FRAUD can no longer be concealed." -- British Lord John Maynard Keynes (the father of 'Keynesian Economics' which our nation now endures) in his book "THE ECONOMIC CONSEQUENCES OF THE PEACE" (1920).
"But if in the pursuit of the means we should unfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them. Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice." -- George Washington in a letter to Jabez Bowen, Rhode Island, Jan. 9, 1787
The economic Crash of '29 and the Great Depression were caused by the money vultures and foreign swindlers of the Federal Reserve withholding currency from circulation and raising interest rates after an inflationary easy money policy in the early 1920s. The Federal Reserve's fear of excessive speculation led it into a far too deflationary policy in the late 1920s, "destroying the village in order to save it."
The U.S. economy was already past the peak of the business cycle when the stock market crashed in October of 1929. The Federal Reserve did "overdo it" -- raising interest rates too much, bringing on the recession that they had hoped to avoid.
This contrived "emergency" by the money vultures and the political manipulations of FDR, et. al. since then has created innumerous abuses, usurpations, and abridgments of Constitutionally delegated Powers and Authority as clearly stated in Senate Report 93-549 (1973):
"A majority of the people of the United States have lived all of their lives under emergency rule. For 40 years, [ 75 years now in 2008] freedoms and governmental procedures guaranteed by the Constitution have in varying degrees been abridged by laws brought into force by statutes of national emergency."
That was one amazing post. Not only did it explicitly state its conspiracy theory bent but tossed the trump card of Racism onto the pile. Well done! I have so much more respect for your opinion now that all the cards are on the table. About the only thing you didn't cover was professing the conviction of armed conflict against our government. Maybe the word count of your post had reached its limit? The best of luck to you and your family hunkered down in the bunker when the sky falls.
The situation is plain as day: the government doesn't want people to turn their fiat dollars into physical gold and silver because there's been a silent run on the banks since early September, 2008. They need to keep the people using their currency so they stopped the minting of gold, silver and platinum eagles so as not to mint the very competitor for their number one product!
Paul Volcker said that if he had any idea that gold and silver would go as high as it did, he would have intervened in the market. This administration is not going to make the same mistake twice. There's an old saying, "There's no rush like a gold rush and no run like a bank run." When people pull their fiat out of banks, they seek to put it in gold and silver but the government is stopping minting in order to force people to accept their crappy depreciating currency. By doing so, they keep the public "in the game" and make them susceptible to the coming inflation by shepherding them into the stock market to buy ETFs. Money in brokerage accounts can be confiscated by the Federal Reserve if there's a national crisis that "requires" them to do so, and eventually they'll have one. When people's attention is diverted, banks steal! THEY DON'T WANT YOU IN PHYSICAL GOLD AND SILVER BECAUSE THE GOVERNMENT CAN'T STEAL THAT WHICH THEY CAN'T FIND.
This is government manipulation for their benefit, plain and simple.
Thank you, anonymous! I don't have the background or the time, seeing as the danger is imminent, to try and figure out the workings and machinations of the gold system. The previous posts were truly all "wink and nod" posts so I do appreciate you connecting the dots for me and any other hapless fool who wandered into this blog.
IIRC, the law requires that US gold and silver bullion coins be made from metal mined in the US (or at least North America ). The current mint rationing may thus reflect a scarcity of spot-market-priced gold from US sources.
Previously, this deficit was made up from the treasury's gold horde. Just perhaps, the treasury is unwilling to tap into this source any more.
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