The truth about the gold standard
by Lt. Gen. Pedro A. DelValle (USMC Ret.)
Many sincere people believe that only by gold and silver backing can paper money be made to work. To these good folk my advice is to read Protocol No. 30, paragraph 22, of the Protocols of the Learned Elders of Zion. The book in which they appear was published by Sergei Nilus in Russia in 1905, a copy of which is in the British Museum. All Russian copies were destroyed by Kerensky. The Jewish journals claim they are a forgery, but a Superior Court in Berne overruled this claim.
Be that as it may, an interview by Henry Ford Sr. published in the New York World (Feb. 29, 1921) states: “The only statement I care to make about the Protocols is that they fit with what is going on. They fit the situation at the present time now.
“You are aware that the gold standard has been the ruin of the States which adopted it, for they have not been able to satisfy the demand for money, the more so that we have removed gold from circulation as far as possible.”
The reader will note that the above quote is in direct opposition to those who glibly say every currency that does not have gold backing has ruined the country using it; this position, being understandably supported by those who sell gold, is untenable because history proves it not to be so; just the reverse is true.
Historically in America we had Colonial Script used by the 13 colonies of England as legal currency to fulfill all the needs of industry and commerce and issued only in the proper amount for this purpose. Benjamin Franklin, who was asked in London how he could explain the great prosperity of the Colonies and their having neither poverty, un-employment nor excessive taxes, stated that this was so because they used this Colonial Script, an honest, interest-free currency, backed only by the integrity and productiveness of the 13 colonies. In an article in the London Times shortly thereafter, the International Bankers made a statement to the effect that this free money must be stopped or the colonies would become enormously wealthy and have the world to themselves.
The Old Lady of Threadneedle Street, as the British Treasury is called, was indebted to the Rothschilds since King William’s War for a loan to conduct that war. They had, in effect, taken charge of the British Treasury and they were powerful enough to require the Parliament and the King to pass laws forbidding the Colonies to use the Colonial Script and forcing them to use the interest bearing usurious pounds issued by the British Treasury. This led to such a wretched situation of unemployment, poverty and economic misery in the colonies the result was the “Declaration of Independence” and the subsequent revolutionary war.
Another historic example of the value of an honest paper currency based upon the integrity and productivity of the government issuing it occurred in the last years of the Civil War. President Lincoln needed money to conclude his war and the bankers wanted such absurd interest rates that he decided instead to ask Congress to issue interest free United States Notes to cover the amount needed, some 400 millions. The Congress did so under the power granted that Federal Agency in Article 1, Section 8, Paragraph 5 of the U.S. Constitution.
Every effort was made by the International Bankers to attack this issue and the notes were derisively called Lincoln Greenbacks. But to this day there are still some in circulation and they are, in fact, the only lawful currency of the United States. There is much evidence that the assassination of Abe Lincoln may have been ordered by the International Bankers who feared interest free currency as the devil hates holy water.
You may wonder what all this has to do with the gold standard. Is it not the International Bankers who control all the gold and governments?
Ask yourself why these powerful internationalists do such things. Let us bear in mind that their objective, as declared in Protocol No. 22, Paragraph 2: “In our hands is the greatest power of our day, gold; in two days we can procure from our storehouses any quantity we may please.”
Protocol No. 23. “The supreme lord, who will replace all existing rulers, dragging on their existence among societies demoralized by us, societies that have denied even the power of God, from whose midst breaks out on all sides the fires of anarchy, must first proceed to quench this all-devouring flame. Therefore he (the supreme lord) will be obliged to kill off those existing societies.”
Let those who still believe in the value of gold standard notice how our ruin is spelled out in past writings. These people mean to enslave us by any and every means: deceit, robbery, corruption, yes, even assassination. Let those who buy gold caveat emptor.
In closing, I present excerpts from “Lincoln’s Monetary Policy” from Mayor McGeer’s book: Conquest of Poverty, certified as correct by the Legislative Reference Service of the Library of Congress:
“No duty is more imperative on the Government than the duty it owes the people to furnish them with a sound and uniform currency and of regulating the circulation of the medium of exchange so that labor will be protected from a vicious currency, and commerce will be facilitated by cheap and safe exchanges.
“The available supply of gold and silver being wholly inadequate to permit the issuance of coins of intrinsic value of paper currency convertible into coin in the volume required to serve the needs of the people, some other basis for the issue of currency must be developed to prevent fluctuations in the value of paper money (currency) or any other substitute for money of intrinsic value that may come into use...
“Such needs can be served by the issue of National Currency and Credit through the operation of a National Bank System…” he believed, and “…the government has the power to regulate the currency and credit of the nation,” and “should stand behind the currency and credit and the bank deposits of the nation. No individual should suffer a loss of money through depreciation or inflated currency or bankruptcy… Money will cease to be master and become the servant of humanity. Democracy will rise superior to the money power.”
Lincoln closes with this statement. “The people will be furnished with a currency as safe as their government.”
“The Truth about the Gold Standard” was originally published in 1982 by Christian Vanguard. For the entire article, write: CDL Report, P.O. Box 9166, Mandeville, La. 70470. Subscriptions: $36 for 12 issues.