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Here We Go Again!

-- Posted Friday, 22 February 2013 | | Disqus

Presented February 2013 by Charles Savoie

Several sites recently released corrective information I presented regarding Antal Fekete’s views on Chinese silver history dating from the 16th century up to the present.  I am grateful to these sites and wish to state I am no “firebrand” looking to take pot shots at other metals commentators.  The contributions of many minds with different areas of expertise such as Steve St. Angelo are needed and I value updates I receive from many sources.  My sole motive is that the community has factual---and common sense---information.  Since December 2004 I’ve been on a warpath concerning an organization in London and Manhattan calling itself “The Pilgrims Society.”  To date, no one has come forward attempting to refute my allegations regarding this groups activities for over a century against free market practices in gold and silver.  If anyone can show me to be in error, they are welcome to “climb my tree” so to speak and discredit my claims; a verbal slap is OK if I’m wrong.  They must first demonstrate they’ve read all the material I’ve released on the subject, up to and including and show point by point where my facts and conclusions are in error.  We should all have passionate dedication to facts and truth, and hold each other to this standard, no matter how high up on the metals personality totem pole we’re perceived (or hyped) to be!  Therefore the following---

At  we find Jim Sinclair recently spouting drivel---

THERE WAS MUCH TO BE GAINED BY GOLD CONFISCATION in the 1930s because we were on a gold standard. Without taking you into complicated explanations, please accept the true fact that gold in the 1930s was the only instruments of QE. It is not now nor will it be again in the future. There may be more to gain by a significant price of gold in the new reserve currency. There is no reason except some sort of fear of revenge to consider confiscation of gold, gold shares or the gold ETFs now. Those that worry so much about this do not really understand what gold was under a gold standard.”

“If 50 million people say a foolish thing, it is still a foolish thing.”

---Anatole France (French journalist 1844-1924).

There was much to be gained by gold confiscation, yes, that’s The Pilgrims Society (megabankers) view!  Sinclair alleges there are “complicated explanations,” no there are not!  There was only the bald faced thievery.  FDR used the collapse of the silver price, caused by his British Pilgrims pals massively dumping melted silver rupees out of India, and Britain’s suspension of the gold standard in September 1931, and the unemployment these catastrophic actions caused due to killing export industries, as excuse to steal precious metals (the only de facto monetary defense citizens have) from the public!  Gold was repriced from the theft rate of $20.67 the ounce to $35, cheating the former holders of gains; silver rose from the posted theft rate of 50.01 cents to 70 cents on the world market, again stealing from the public.  Is this what Jim Sinclair and the Silver Doctors site want you to believe---that FDR’s metals seizures---grand scale larceny and pillaging--- helped the nation?  Sinclair said “do not really understand what gold was under a gold standard,” gee Jim, that means that Presidents Washington, Jefferson, Madison, Jackson, Van Buren and Tyler were clueless!  Idaho Silver Senator, William Borah, known as “The Great Opposer,” said two weeks after Roosevelt’s TYRANNICAL gold nationalization order (New York Times, April 29, 1933, page 4) ---


The fine monetary Presidents we had and Silver Senators like Borah, Key Pittman, Patrick McCarran and others were so confused, so hopelessly mixed up!  They thought gold coin should be in the people’s hands, not seized by the banking elite using the President to do the hatchet job!  Almost no one who surrendered gold was happy about it!  Only half wits thought they were being patriotic!  Only the great Jim Sinclair “gets it!”  And here I am, just a microbe on the popularity scale, defying him!  Gold and silver have to be concentrated in the Treasury building vaults to make a gold standard work!  If metals are in the hands of the public, a metallic system will just sputter!  George C. Scott in “The Flim Flam Man” (1967) couldn’t have done a better job of misleading!  “Without taking you into complicated explanations,” come on Jim, put up the smoke and mirrors!  Jim Sinclair, what are you?  On February 1, 2013 I see Sinclair stating---

 “If you do not hold the bullion you have nothing whatsoever but a paper statement.”

We’re seen what Sinclair’s idea of a gold standard was for the Roosevelt era, are we getting a mixed signal here?  Yes of course this is correct; but to suggest that a gold standard can’t work unless Americans turn in their gold to the Treasury (THAT’S WHERE IT WENT FRIENDS) is subversive of the Constitution!  Do any of you seriously believe that Americans who were squeezed out of a near 70% gain in gold felt “there was much to be gained” by being so deprived?  He says you need to have hard metal held in your own hands today; why was it good for Americans in 1933 to NOT be able to hold it in their hands?  Why do people stick their necks out this way and express extremist viewpoints?  I hope those of you into hero worship in idolizing and deifying metals personalities don’t let that weakness blind you to facts!  Sinclair would have you believe the Federal Reserve was a beneficial entity, that it needed more gold on which to base issue of more paper dollars (which could NOT be converted, gold certificates were also taken!)  Does Jim have a foot in both camps, so to speak?  Does he know anyone in The Pilgrims Society?  I believe so, because his paternal ancestry lies in the Seligman line (Pilgrims Society financiers connected to the Rothschilds, financial backers of Cecil Rhodes, who schemed the founding of The Pilgrims Society), see searchable version of “The Silver Stealers.”  Florida Atlantic University also noted Seligman ties to the Rothschilds since post Civil War times.

At Jim Sinclair advocated gold in preference to “the ever-expanding paper currency that threatens our economic well being.”  He stated “I am the son of one of the world’s greatest traders, Bertram J. Seligman.  Goldman Sachs, Solomon Brothers, Lehman Brothers, and Bache were a few of the firms started by my family.  All this appears in a book called “Our Crowd.”

Sinclair mentions about his use of his mother’s last name, Sinclair.  “Solomon” is misspelled; it should be “Salomon.”  The 1967 book he cites is among the very few that feature the barest mention of The Pilgrims, and only in regard to John Mortimer Schiff.  Goldman, Salomon Brothers and Lehman, started by the Seligmans?  Not that I ever saw; Seligman & Company, yes.  They had relationships with the other firms.  Pages 152-153 of “Our Crowd” indicate that Goldman Sachs got boosted via the Kleinwort family (Pilgrims Society) of London, via August Belmont (Pilgrims Society) and the Rothschilds (Pilgrims Society) giving a nod to the Kleinworts as to Goldman; Seligmans weren’t mentioned.  Jules Semon Bache (Pilgrims Society) founded Bache & Company.  Have you exaggerated some, Jim?

Isaac Seligman, charter Pilgrims Society member in 1903, international financier with Rothschild connections, had a kid brother named Edwin (1861-1939) who was an economics professor at Columbia University under the tenure of Nicholas Murray Butler, then also president of The Pilgrims of the United States.  Here’s what Edwin had to say about unbacked paper currency (New York Times, November 1, 1933) ---

“Declaring that even a larger issue of paper currency need not cause alarm, Professor Seligman predicts restoration of the nation’s economic equilibrium.  In all probability, there will be no uncontrolled inflation, Professor Seligman predicts.”

Seligman stated---

“It is true that there may be in store for us a larger issue of paper currency and before very long.  BUT THIS NEED UPSET NO ONE.  NOR NEED ANYONE FEAR BUDGETARY INFLATION ON THE GROUND THAT THE GOVERNMENT IS SPENDING HUGE SUMS AND BORROWING THE MONEY TO DO SO.”

These Seligmans are by Sinclair’s admission his family tree.  They weren’t in the same class as the Rockefellers, but they could have filled a bathtub with top quality emeralds had the notion occurred.  He does make many of the right sounding statements as to the superiority of gold over printed currency.  Then, however, he says “there was much to be gained” by Roosevelt taking gold from Americans!  What does Sinclair’s view consist of as to how to return to a gold standard?  Should we be compelled to cough up our only protection to the Treasury, which will be under Pilgrims Society control?  Is it that Sinclair only disagrees with some of Professor Seligman’s views? 

From 1981 to 1984 Sinclair served as a precious metals advisor to the Hunt family and Hunt Oil for the liquidation of their silver position as a qualification for the $1 billion “bailout” loan arranged by Paul Volcker (Pilgrims Society), chief of the Federal Reserve System.  I haven’t seen who Sinclair was connected to on the other side of that role---the Silver Users Association, the Fed and the Treasury, and the Manhattan megabanks?  Who else could it have been, not Mexican silversmiths in Taxco, Guerrero State!  On April 14, 1982, an employee of the Toronto based Thomson family (Pilgrims Society, worth estimated $16 billion ) owned London Sunday Times, Stephen Fay, released his hatchet job book, “Beyond Greed---The Hunt Family’s Bold Attempt to Corner the Silver Market.”  It mentions many silver personalities of that era--- the Canadian Belzberg brothers; Mike Boswell; Robert Carswell; Scott Dial; Read Dunn; Ismail Fonseca; Michel Fribourg; Walter Frankland; Henry Jarecki; Lowell Minz; Naji Nahas; Gaith Pharaon; Virgil Sherrill; James Stone; Norton Waltuch; Sam Wyly et al.  Sinclair?  No mention of Sinclair.   Volcker was at David Rockefeller’s Chase Manhattan Bank before going to D.C. to take the helm of the Fed.  I’m not predisposed to accept as any leader of the metals longs, someone who “thinks” FDR’s hellacious gold grab was a favor to the citizenry of the United States!

Elizur Wright, the “father of life insurance,” writing in The North American Review, May 1877, page 431, said---

“The more gold is in the hands of the people when notes fail and credit collapses, the better for the people certainly.”

“The hosannas of the multitude can never bring satisfaction to the discerning. Yet there exist those chameleons of popularity who find their joy, not in the sweet breath of Apollo, but in the smell of the crowd. And not in mind: Do not be taken in by what are miracles to the populace, for the ignorant do not rise above marveling. Thus the stupidity of a crowd is lost in admiration, even as the brain of an individual uncovers the trick.”

  ---Baltasar Gracian (1601-1658) Spanish author


You’ve seen Sinclair’s photo; here’s mine.  I had to hit “invert colors” to bring out the image as the original flash left the image too dark.  Seen with Robert Quartermain posing with 100 ounce Engelhard bars at a shareholder meeting in October 2003---


My Rx for assurance that precious metals belong in your own hands---not in Treasury Department vaults---is to go get some bars and coins, sit back in your recliner, and savor them with eyes closed while listening to “Realeza” (“Royalty”) theme song of Alberto Del Rio, a Mexican athlete---

Then enjoy “The Ecstasy Of Gold”---

-- Posted Friday, 22 February 2013 | Digg This Article | Source:

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