The Real Reasons that Germany Is Demanding that the U.S. Return Its Gold

Why Is Germany Demanding 300 Tons of Gold from the U.S. and 374 Tons from France?

The German’s are demanding that the U.S. return all of the 374 tons of gold held by the Bank of France, and 300 tons of the 1500 tons of bullion held by the New York Federal Reserve.
Some say that Germany is only demanding repatriation of its gold due to internal political pressures, and that no other countries will do so.
But Pimco co-CEO El Erian says:

In the first instance, it could translate into pressures on other countries to also repatriate part of their gold holdings. After all, if you can safely store your gold at home — a big if for some countries — no government would wish to be seen as one of the last to outsource all of this activity to foreign central banks.

As we noted last November:

Romania has demanded for many years that Russia return its gold.
Last year, Venezuela demanded the return of 90 tons of gold from the Bank of England.
***
As Zero Hedge notes (quoting Bloomberg):

Ecuador’s government wants the nation’s banks to repatriate about one third of their foreign holdings to support national growth, the head of the country’s tax agency said.
Carlos Carrasco, director of the tax agency known as the SRI, said today that Ecuador’s lenders could repatriate about $1.7 billion and still fulfill obligations to international clients. Carrasco spoke at a congressional hearing in Quito on a government proposal to raise taxes on banks to finance cash subsidies to the South American nation’s poor.

Four members of the Swiss Parliament want Switzerland to reclaim its gold.
Some people in the Netherlands want their gold back as well.

(Forbes notes that Iran and Libya have recently repatriated their gold as well).
The Telegraph’s lead economics writer – Ambrose Evans Pritchard – argues that the German repatriation demand shows that we’re switching to a de facto gold standard:

Central banks around the world bought more bullion last year in terms of tonnage than at any time in almost half a century.
They added a net 536 tonnes in 2012 as they diversified fresh reserves away from the four fiat suspects: dollar, euro, sterling, and yen.
The Washington Accord, where Britain, Spain, Holland, South Africa, Switzerland, and others sold a chunk of their gold each year, already seems another era – the Gordon Brown era, you might call it.
That was the illusionary period when investors thought the euro would take its place as the twin pillar of a new G2 condominium alongside the dollar. That hope has faded. Central bank holdings of euro bonds have fallen back to 26pc, where they were almost a decade ago.
Neither the euro nor the dollar can inspire full confidence, although for different reasons. EMU is a dysfunctional construct, covering two incompatible economies, prone to lurching from crisis to crisis, without a unified treasury to back it up. The dollar stands on a pyramid of debt. We all know that this debt will be inflated away over time – for better or worse. The only real disagreement is over the speed.
***
My guess is that any new Gold Standard will be sui generis, and better for it. Let gold will take its place as a third reserve currency, one that cannot be devalued, and one that holds the others to account, but not so dominant that it hitches our collective destinies to the inflationary ups (yes, gold was highly inflationary after the Conquista) and the deflationary downs of global mine supply.
***
A third reserve currency is just what America needs. As Prof Micheal Pettis from Beijing University has argued, holding the world’s reserve currency is an “exorbitant burden” that the US could do without.
The Triffin Dilemma – advanced by the Belgian economist Robert Triffin in the 1960s – suggests that the holder of the paramount currency faces an inherent contradiction. It must run a structural trade deficit over time to keep the system afloat, but this will undermine its own economy. The system self-destructs.
A partial Gold Standard – created by the global market, and beholden to nobody – is the best of all worlds. It offers a store of value (though no yield). It acts a balancing force. It is not dominant enough to smother the system.
Let us have three world currencies, a tripod with a golden leg. It might even be stable.

How Much Gold Is There?

It’s not confidence-inspiring that CNBC’s senior editor John Carney argues that it doesn’t matter whether or not the U.S. has the physical gold it claims to hold.
In fact, many allege that the gold is gone:

Cheviot Asset Management’s Ned Naylor-Leyland says that the Fed and Bank of England will never return gold to its foreign owners.
Jim Willie says that the gold is gone.
***
Others allege that the gold has not been sold outright, but has been leased or encumbered, so that the U.S. does not own it outright.
$10 billion dollar fund manager Eric Sprott writes – in an article entitled “Do Western Central Banks Have Any Gold Left???“:
If the Western central banks are indeed leasing out their physical reserves, they would not actually have to disclose the specific amounts of gold that leave their respective vaults. According to a document on the European Central Bank’s (ECB) website regarding the statistical treatment of the Eurosystem’s International Reserves, current reporting guidelines do not require central banks to differentiate between gold owned outright versus gold lent out or swapped with another party. The document states that, “reversible transactions in gold do not have any effect on the level of monetary gold regardless of the type of transaction (i.e. gold swaps, repos, deposits or loans), in line with the recommendations contained in the IMF guidelines.”⁶ (Emphasis theirs). Under current reporting guidelines, therefore, central banks are permitted to continue carrying the entry of physical gold on their balance sheet even if they’ve swapped it or lent it out entirely. You can see this in the way Western central banks refer to their gold reserves.

Indeed, it is now well-documented that the Fed has leased out a large chunk of its gold reserves, and that big banks borrow gold from central banks and then to multiple parties.
As such, it might not entirely surprising that the Fed needs 7 years to give Germany back its 300 tons of gold … even though the Fed claims to hold 6,720 tons at the New York Federal Reserve Bank alone:
Even Pimco co-CEO Bill Gross says:

When the Fed now writes $85 billion of checks to buy Treasuries and mortgages every month, they really have nothing in the “bank” to back them. Supposedly they own a few billion dollars of “gold certificates” that represent a fairy-tale claim on Ft. Knox’s secret stash, but there’s essentially nothing there but trust..  When a primary dealer such as J.P. Morgan or Bank of America sells its Treasuries to the Fed, it gets a “credit” in its account with the Fed, known as “reserves.” It can spend those reserves for something else, but then another bank gets a credit for its reserves and so on and so on. The Fed has told its member banks “Trust me, we will always honor your reserves,” and so the banks do, and corporations and ordinary citizens trust the banks, and “the beat goes on,” as Sonny and Cher sang. $54 trillion of credit in the U.S. financial system based upon trusting a central bank with nothing in the vault to back it up. Amazing!

And given that gold-plated tungsten has turned up all over the world, and that a top German gold expert found fake gold bars imprinted with official U.S. markings, Germans may have lost confidence in the trustworthiness of the Fed.  See this, this, this and this.
This may especially be true since the Fed refused to allow Germans to inspect their own gold stored at the Fed.

Currency War?

The gold repatriation is – without doubt- related to currency.
As Forbes notes:

Officials at the Bundesbank … acknowledged the move is “preemptive” in case a “currency crisis” hits the European Monetary Union.
***
“No, we have no intention to sell gold,” a Bundesbank spokesman said on the phone Wednesday, “[the relocation] is in case of a currency crisis.”

Reggie Middleton thinks that Germany’s demand for its gold is part of a currency war.
Jim Rickards has previously said that the Fed had plans to grab Germany gold:

Jim Rickards has outlined possible plans by the Federal Reserve to commandeer Germany’s and all foreign depositors of sovereign gold at the New York Federal Reserve in the event of a dollar and monetary crisis leading to intensified “currency wars” and the ‘nuclear option’ of a drastic upward revision of the price of gold and a return to a quasi gold standard is contemplated by embattled central banks to prevent debt deflation.

Is that one reason that Germany is demanding its gold back now?
China is quietly becoming a gold superpower, and China has long been rumored to be converting the Yuan to a gold-backed currency.
The Telegraph’s James Delingpole points out:

Back in the mid-1920s, the head of the German Central Bank, Herr Hjalmar Schacht, went to New York to see Germany’s gold. However the NY Fed officials were unable to find the palette of Germany’s gold bullion. The Chairman of the Federal Reserve, Benjamin Strong was mortified, but to put him at ease Herr Schacht turned to him and said ‘Never mind, I believe you when you when you say the gold is there. Even if it weren’t you are good for its replacement.’ (H/T The Real Asset Company)

But that was then and this is now. In the eyes of the Germans – and who can blame them? – America has lost its mojo to such a degree that it can no longer be trusted honour its debts, even in the unlikely event that it were financially capable of doing so. Which is why, following in the footsteps of Venezuela’s Hugo Chavez (who may be an idiot but is definitely no fool), Germany is repatriatriating its gold from the US federal reserve.  It will now be stored in Frankfurt.
***
[Things] may look calm on the surface, but this latest move by the Bundesbank gives us a pretty good indication that beneath the surface that serene-seeming swan is paddling for dear life.
If you want a full analysis I recommend this excellent summary by Jan Skoyles. The scary part is this bit:

Every few months there is a discussion regarding what China are planning on doing with the gold they both mine and import every year, with many believing they are hoarding the metal as an insurance against the billions of US Treasury bonds, notes and bills they hold. Many believe they will issue some kind of gold-backed currency in the short-term and dump its one trillion dollars’ worth of US Treasury securities. Whilst, at the moment the US seem to take their monopoly currency for granted, should the Chinese or anyone else behave in such a manner, the US will need to respond – most likely with gold, which on its own it does not have enough of.

Anyone who thinks this isn’t going to happen eventually should read Peter Schiff’s parable How An Economy Grows And Why It Crashes. If something can’t go on forever, it won’t.

In other words, Rickards and Skoyles appear to argue that Germany may be repatriating gold in the first round of musical chairs in which China is preparing to roll out a gold-backed Yuan.   Under this theory, the rest of the world’s currencies will sink unless their nations’ can scramble to get their hands on enough gold to lend credibility to their paper.
Postscript: Michael Rivero thinks that the war in Mali is connected:

Mali is one of the world’s largest gold producers. Together with neighboring Ghana they account for 7-8% of world gold output. That makes them a rich prize for nations desperate for real physical gold. So, even as Germany started demanding their gold back from the Bank of France and the New York Federal Reserve, France (aided by the US) decided to invade Mali to fight “Islamists” working for “Al Qaeda.” Of course, “Islamists” has become the catch-all label for people that need to be killed to get them out of the way of the path to riches, and the people being bombed by France (aided by the US) are not “Al Qaeda” but Tawariqs, who have been fighting for their independence for 150 years, long before the CIA created “Al Qaeda”. Left to themselves, the Tawariqs could sell gold to whoever they want for whatever they want, and right now China can outbid the US and France.

‘Four Horsemen’ trailers: leading economists explain 1%’s criminal fraud

Four Horsemen is a new 98-minute documentary of 23 leading economic voices explaining how banking/financial elite transfer trillions of dollars to themselves through privilege of creating what we use for money as debt that they make out of nothing, and then using this debt-money to earn interest and gamble.
The two trailers are here and here.
The film can be downloaded and/or watched online forever for $8.
My best economics overview: How an economics teacher presents Occupy’s economic argument, victory

SIGN IT! - White House Petition To Audit U.S. Gold Supply

ROBBING PETER MALI TO PAY PAUL GERMANY

That all wars are ultimately bankers' wars doesn't get more obvious than this.
Our story starts with the fact that many nations have deposited gold bullion at the New York Federal Reserve. That gold vault was a centerpiece for the Bruce Willis film, "Die Hard With a Vengeance."
The idea is that while you and I are required to transact business with piece of paper and ink, large banks and nations still settle their accounts with gold, which is simply wheeled from one nation's vault to another to settle a debt, all of it under the roof of the Federal Reserve Gold Depository in New York City, or the similar institutions at the Bank of England and Band of France.
Then, in 2009, a worker at a German gold bullion trader grew suspicious of a gold bar that had come in, and decided to assay the gold content. But the drill bit broke, revealing that the core of the gold car was filled with tungsten, a metal almost the exact same density as gold. The bar was cut open, and the scandal reported on German TV.
Alerted, other gold centers began to scrutinize their gold bars and more fakes quickly surfaced, including China, and the Manhattan jewelry district.
It quickly became apparent that the problem of tungsten filled bullion bars was widespread. Because many of the fake gold bars had the marking of US sources, nations began to ask for audits and tests of the gold bullion held in their name by the New York Federal Reserve. To the surprise of many, the New York Federal Reserve refused! Indeed the New York Federal Reserve refused the German government permission to simply look at their bullion! Germany's private central bank then went public assuring the Germans that they trusted America's private central bank and did not need to see the gold. That was followed by a bizarre editorial from CNBC's Senior Editor Jim Carney that it didn't really matter if the bullion was really there at the New York federal Reserve, as long as the bookkeeping said it was!
That set off everyone's alarm bells!
The German government started demanding their physical gold to be repatriated back to Germany from both the Bank of France and the New York Federal Reserve. Germany demanded all of the 374 tons of gold held by the Bank of France, but only 300 tons of the 1500 tons of bullion held by the New York Federal Reserve. Both the Bank of France and the New York Federal Reserve have stated that the process of returning the gold will take years, five years for the French gold, and seven for the gold coming from the New York Federal Reserve. The delay makes the situation clear. Neither the Bank of France nor the New York Federal Reserve actually have the gold Germany deposited, sending tungsten fakes back to the very nation that first spotted the fraud is risky, the France and the United States are scrambling to find replacement gold.
Which brings us to Mali.
Mali is one of the world's largest gold producers. Together with neighboring Ghana they account for 7-8% of world gold output. That makes them a rich prize for nations desperate for real physical gold. So, even as Germany started demanding their gold back from the Bank of France and the New York Federal Reserve, France (aided by the US) decided to invade Mali to fight "Islamists" working for "Al Qaeda." Of course, "Islamists" has become the catch-all label for people that need to ne killed to get them out of the way of the path to riches, and the people being bombed by France (aided by the US) are not "Al Qaeda" but Tawariqs, who have been fighting for their independence for 150 years, long before the CIA created "Al Qaeda". Left to themselves, the Tawariqs could sell gold to whoever they want for whatever they want, and right now China can outbid the US and France.
So off to war your children must go, to spill their blood for the money-junkies' gold.

Student Kicked Out Of School For Refusing To Wear RFID Tracking Badge Following Failed Appeal

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Obama's new economy: Hundreds of thousands of PhDs, masters graduates now on food stamps, some work as janitors

(NaturalNews) Once upon a time in America, employment prospects and the chance to become much more successful in life were far better for those who had put forth the extra effort required to obtain higher levels of education. But in today's economy, where the new normal is anemic annual growth rates of one to two percent - rates that cannot lower overall unemployment but which President Obama has nonetheless tried to pass off as "moving in the right direction" - a higher level of education is no longer a guarantee of future accomplishment.

In fact, even some people who have earned PhD's are either unemployed or pathetically under-employed, which is pretty sad for the world's number one economic power.

"When job hunting in one's field turns rough," says a graphic developed by OnlineColleges.net, "college graduates may return to school for another degree. But for some Americans, multiple degrees won't guarantee a job in their field - or even keep them above the poverty level."

5,000 janitors with PhD's

Because of declining job prospects, which is tied to slow job private-sector job growth and sustained high unemployment, "more and more highly educated people" have been forced onto government welfare and food-stamp rolls, the site noted.

The figures are disturbing.

According to figures from the U.S. Department of Agriculture, which oversees the federal food stamp program, the monthly caseload has increased from 17 million in 2000 to a staggering 44 million in 2011, an increase of more than 150 percent.

Among them are some of the most educated among us - Americans with PhD's and master's degrees who you would think should have no trouble at all finding a good-paying job.

Per figures provided by the various government agencies and departments:

-- In 2010, of the 22 million Americans who had obtained master's degrees or higher levels of education, 360,000 were on some kind of public assistance.

-- Of that figure, 33,655 had PhD's.

-- Department of Labor figures show that one in three college grads works in a job the department says requires less than a bachelor's degree.

-- More than 5,000 PhD's work as janitors.

-- Overall, one in six Americans received food stamps in 2011.

The dramatic increase in the number of PhD's and other higher education Americans is just the latest sign of the "new normal" economy; with an unemployment rate of 7.8-8 percent and job creation chronically low, coupled with wage stagnation and shrinking budgets, prospects for college grads overall have been reduced during the Obama years.

"I am not a welfare queen," Melissa Bruninga-Matteau, who holds a PhD in medieval history and is currently receiving food stamps and Medicaid, told The Chronicle of Higher Education last May. "I find it horrifying that someone who stands in front of college classes and teaches is on welfare."

'I had no idea that the PhD was a path to food stamps'

Even degrees that have traditionally guaranteed a higher standard of living - law school J.D.'s for instance - are no longer sure things; the new normal economy has driven an increasing number of law school graduates into non-related fields, according to U.S. News and World Report.

Indeed, the problem may actually be worse than it appears. Many who are better educated are shamed by the experience of having to rely on taxpayer-supported assistance, which has "helped keep the problem hidden," says The Chronicle.

"People don't want their faces and names associated with this experience," Karen L. Kelsky, a former tenured professor who now runs The Professor Is In, an academic-career consulting business, told the publication.

"It's gone beyond the joke of the impoverished grad student to becoming something really dire and urgent," she added. "When I was a tenured professor I had no idea that the PhD was a path to food stamps."

Sources:

http://www.onlinecolleges.net/2013/01/08/americas-phds-on-food-stamps/

http://dailycaller.com

http://www.huffingtonpost.com

http://chronicle.com/article/From-Graduate-School-to/131795/

Learn more: http://www.naturalnews.com/038752_college_graduates_janitors_Obamanomics.html#ixzz2IaoF24B2

The Road to World War 3

Bugger The Bankers THE OFFICIAL VIDEO

Thousands rally in state capitals from New England to Texas against stricter gun control laws

AUSTIN, Texas — Thousands of gun advocates gathered peacefully today at state capitals around the U.S. to rally against stricter limits on firearms, with demonstrators carrying rifles and pistols in some places while those elsewhere settled for waving hand-scrawled signs or screaming themselves hoarse.
The size of crowds at each location varied — from dozens of people in South Dakota to 2,000 in New York. Large crowds also turned out in Connecticut, Tennessee and Texas. Some demonstrators in Phoenix and Salem, Ore., came with holstered handguns or rifles on their backs. At the Kentucky Capitol in Frankfort, attendees gave a special round of applause for "the ladies that are packin'."
Activists promoted the "Guns Across America" rallies primarily through social media. They were being held just after President Barack Obama unveiled a sweeping package of federal gun-control proposals.
The crowd swelled to more than 800 amid balmy temperatures on the steps of the pink-hued Capitol in Austin, where speakers took the microphone under a giant Texas flag with "Independent" stamped across it. Homemade placards read "An Armed Society is a Polite Society," ''The Second Amendment Comes from God" and "Hey King O., I'm keeping my guns and my religion."
"The thing that so angers me, and I think so angers you, is that this president is using children as a human shield to advance a very liberal agenda that will do nothing to protect them," said state Rep. Steve Toth, referencing last month's elementary school massacre in Newtown, Conn.
Toth, a first-term Republican lawmaker from The Woodlands outside Houston, has introduced legislation banning within Texas any future federal limits on assault weapons or high-capacity magazines, though such a measure would violate the U.S. Constitution.
Rallies at statehouses nationwide were organized by Eric Reed, an airline captain from the Houston area who in November started a group called "More Gun Control (equals) More Crime." Its Facebook page has been "liked" by more than 17,000 people.
Texas law allows concealed handgun license-holders to carry firearms anywhere, but Reed said rally-goers shouldn't expose their weapons: "I don't want anyone to get arrested."
A man who identified himself only as "Texas Mob Father" carried a camouflaged assault rifle strapped to his back during the Austin rally, but he was believed to be the only one to display a gun. Radio personality Alan LaFrance told the crowd he brought a Glock 19, but he kept it out of sight.

Gun-rights advocate Nate Rodriguez, of West Valley City, Utah, carries his AR-15 with a U.S. flag in the barrel today outside the Utah Capitol during the national Gun Appreciation Day Rally in Salt Lake City. ASSOCIATED PRESS Enlarge

At the New York state Capitol in Albany, about 2,000 people turned out for a chilly rally, where they chanted "We the People," ''USA," and "Freedom." Many carried American flags and "Don't Tread On Me" banners. The event took place four days after Democratic Gov. Andrew Cuomo signed the nation's toughest assault weapon and magazine restrictions.
Republican Assemblyman Steven McLaughlin said the new law was "abuse of power" by the governor. Some in the crowd carried "Impeach Cuomo" signs. Protester Robert Candea called the restrictions "an outrage against humanity."
In Connecticut, where task forces created by the Legislature and Democratic Gov. Dannel Malloy are considering changes to gun laws, police said about 1,000 people showed up on the Capitol grounds. One demonstrator at the rally in Maine, Joe Getchell of Pittsfield, said every law-abiding citizen has a right to bear arms.
In Minnesota, where more than 500 people showed up at the Capitol in St. Paul, Republican state Rep. Tony Cornish said he would push to allow teachers to carry guns in school without a principal or superintendent's approval and to allow 21-year-olds to carry guns on college campuses.
Capitol rallies also took place in Colorado, Kansas, Maine, Michigan, Missouri, Montana, New Mexico, North Carolina, Ohio, Vermont and Wisconsin, among other states.
Back in Texas, Houston resident Robert Thompson attended the rally with his wife and children, ages 12, 5 and 4. Many in the family wore T-shirts reading: "The Second Amendment Protects the First."
"What we are facing now is an assault weapons ban, but if they do this, what will do they do next?" Thompson asked.
William Lawson drove more than four hours from Wichita Falls and held up a sign reading "Modern Musket" over the image of an assault rifle and the words, "An American Tradition since 1776."
"I'm not some wild-eyed person who wants to fight in the streets," Lawson said. "This is a country of laws. But I want to protect our Constitution."
Texas Land Commissioner Jerry Patterson conceded that the Second Amendment sometimes leads to killings, but he told the crowd that the First Amendment can be just as dangerous. Patterson said news coverage of those responsible for mass shootings can spark copy-cat shootings.
"All of us here, together, are right about our liberty," Patterson said. "And we will not back down."

Shocking!! Man explains to WFTV News why he loves the Orlando Police Dep...

Feeding the homeless is being banned in many major cities in America. Seattle is just the latest city to enforce restrictions on charities that feed the homeless.

The Bread of Life Mission has been feeding the poor in Seattle for 70 years, and now they are being prevented from doing so in public parks without the city's approval.

"It was a service we were offering free of charge to be a blessing to the homeless," Executive Director Willie Parish, Jr told MyNorthwest.com. "All we were doing was just a continuation of what we do on a daily basis."

According to My Northwest:

In December, however, Parish said Seattle police told them they were no longer allowed to serve food at the park.

City officials say the restriction is nothing new, and that Bread of Life simply operated in the park for three years without being caught or reported.

David Takami with the Seattle Human Services Department said the city does not allow groups of people to feed the homeless outdoors without approval. 

"This has happened in the past where there are a lot of meals served in a short period of time on the same day," he said. "It's a little chaotic and it can also lead to wasted food."

 The Bread of Life Mission vows to continue to bring food to the people that need it despite the restrictions.

In 2011 members of a charity in Orlando Florida, Food Not Bombs, were arrested for feeding the homeless in a public park. The incident drew national criticism and a hilarious mocking response from one activist observing the police brutalize kind-hearted charities.

 In each case it seems the motivation for these bans is to give the cities the appearance of low homelessness instead of actually helping them. However, in every instance the authorities use the excuse that they are protecting the homeless against potentially unhealthy food, as if that's their responsibility.

Ultimately, the growing trend of banning or restricting private food charities is creating greater dependence on already taxed public assistance. But city governments seem to be doing more harm than good when it comes to helping the homeless.

Bankers, Bradburys, Carnage And Slaughter On The Western Front

A little known historical fact that will collapse even further the reputation of the City of London

As I start to write this article, today is Remembrance Sunday and I’m listening live to the sombre but magnificent strains of Elgar’s Nimrod as the parade at The Cenotaph assembles for the nation’s annual act of remembrance to the fallen. Like almost everyone else, I’m always humbled and moved by the veterans’ march-pass to pay their respects to fallen friends and comrades – but this year I will find it particularly poignant in the light of my recent research concerning a little known fact about the outbreak of the First World War. Let me explain.
Yesterday, I watched by sheer chance the spectacle of the Lord Mayor’s Show on television. This year’s parade for the inauguration of the 685th Lord Mayor of London, Alderman Roger Gifford, was no different from any other. As ever it was a combination of centuries old, corporate traditions, with floats and vintage vehicles representing the various Worshipful Companies, combined with local units from the armed forces along with enthusiastic and diverse community groups of children and young people. It was pageantry and modern day life parading together side by side to show off all that is best about our capital city.

Alderman Roger Gifford, the new Lord Mayor of London, enjoying his big day.

All very innocent and benign you would think. There was Roger Gifford, a banker by trade, smiling and clearly enjoying himself hugely as he doffed his large black tricorne hat to the passing parade. All around him on the VIP stand were his family, friends, business acquaintances and representatives from the City of London - people who just seemed relaxed, normal and happy.

Looking at this joyous and colourful scene on the streets of London, I was reminded of the fictional character Richard Hannay in John Buchan’s pre-First World War famous spy novel The Thirty-nine Steps. The final scene sees the hero Hannay confronting The Black Stone, the network of ingenious German spies who had morphed into the higher echelons of British society and had discovered, by the use of magnificent disguise and deception, the war-time dispositions of the Royal Navy. Having tracked them down to their secret lair on the Kentish coastline, Hannay is confronted by a scene of complete domestic normality. There is nothing about the Germans or the villa that could suggest anything other than a typical British upper middle class household at ease with itself enjoying a seaside holiday. But just one sudden flicker of recognition restored Hannay’s confidence that he had discovered The Black Stone.
Well, such a flicker of recognition also restored my confidence. As soon as I saw the giant wicker effigies of Gog and Magog on the parade, the mythical ‘protectors’ of the City of London, my confusion disappeared. The façade of decency and respectability was gone in an instant - the truth of what we were really looking at had once again been restored.

Gog and Magog

For those of us who, after many years of careful and detailed research, now understand the hidden machinations of global finance and who are aware of the secretive network of criminals and traitors who seek world government on their terms, this annual spectacle of corporate celebration and respectability by people who are not household names clearly masks an evil that must now be exposed quickly and effectively.
With the exception of a few thousand very powerful people, the entire world’s population, all seven billion of us, are trapped ... trapped into a criminal debt creating banking ‘system’ that has taken hundreds of years to perfect and to come to fruition. This ‘system’ results in enslavement and servitude. It creates dreadful unhappiness amongst ordinary decent people and causes wars, debt, starvation, pollution and environmental destruction. It feeds on greed, fear and division. It forces people onto the corporate treadmills of mass mindless production and mass mindless consumption. It uses lies, deception, intimidation and entrapment at all times. It is a system that is so clever and so cunning that most of the world is completely oblivious to its existence. It is a system that allows a few winners at the expense of a huge number of losers. It is a system that considers itself to be unbeatable and indestructible and is now so arrogant that it believes it can control everything and everyone on its terms. It is a system where psychopaths and sociopaths can flourish. And without question the centre of this system, the heart of this global corporate beast is the innocent sounding Square Mile known as the City of London.
Put very simply, the banking dynasties, such as the House of Rothschild, control the political processes around the world to such an extent that their network of private central banks have the right to create money completely out of thin air and then charge interest on that ‘nothingness’. The polite term is ‘Fractional Reserve Lending’ but in reality it is just simple fraud. The result is that the whole world is currently drowning in a sea of fraudulent debt.
The USA now has a National Debt of over 16 trillion dollars, whilst the UK owes its creditors over one trillion pounds. The planned contagion of spiralling and unlawful debt is now sweeping over Europe with a renewed vigour. Greece and Spain are being torn apart by appalling austerity measures to the point that civil war or military intervention are now being openly talked about on the streets. Italy is giving all the signs that its economy is now entering into very stormy waters indeed. Ireland, Portugal, France and Belgium are already in a mess and are unlikely to see their debts become more manageable. Tens of millions of people have experienced a major downturn in their quality of life, along with their prospects for a more secure and better future, as unlawful austerity measures brought in by corrupt politicians begin to bite. Even the stronger economies of Germany, The Netherlands and Luxembourg have now been downgraded by Moody’s, the Rothschild controlled credit rating agency.