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One of
the more disingenuous frauds the citizens of the United States are being
subjected to these days is coming out of the US Mint. For over 2 years the
Mint has been illegally rationing gold and silver American Eagles and now the
Director of the U.S. Mint, Edmond Moy, is finally on the hot seat.
"A
congressional subcommittee has been asked to investigate the growing backlog
in and foreign procurement of U.S. bullion and collectors' precious metals
coin blanks manufactured by the U.S. Mint."
http://www.mineweb.co.za/mineweb/view/mineweb/en/page72068?oid=108615&sn=Detail&pid=102055
On
June 4, 2008 I wrote an letter to Henry Paulson and Edmond Moy explaining
that their announcement of Eagle rationing was against US Law: 31USC5112(e).
The Law clearly states that "the silver coins must be supplied to the US
public in 'quantities sufficient to meet public demand' EVEN IF it means the
US Mint drives up the price of silver bullion on the open market in order to
obtain the silver needed to produce the US Silver Eagles."
That
letter is posted here:
http://www.roadtoroota.com/public/140.cfm
Now
Mr. Moy is claiming that the problem is not with the sourcing of the gold/silver
bullion (sure it isn't) but with the sourcing of the coin blanks:
"We
experienced considerable difficulty in getting this raw material fabricated
into planchets by our vendors in sufficient quantities to meet public demand."
GIVE
ME A BREAK! Tell me where the law states "if they can't obtain planchets
the Mint does not have to supply the coins"? The reality is that the
supply of planchets is NOT the problem as the US Mint can out bid other
buyers of planchets all-day-long! The supply of gold and silver planchets is
UNLIMITED to the US Mint as they can secure all supply or even make their own
planchets to satisfy demand.
Just
look at their system for obtaining those "oh-so-rare" planchets:
"Congress
requires the Mint to procure the gold for its Eagle bullion coins from newly
mined U.S. deposits, the Mint then ships that gold to Australia to be made
into blanks. Then, the fabricated blanks are later shipped back to the United
States for the production of coins."
(*note:
the law states that Gold must be sourced domestically but not silver)
Now
with investigations into the INCOMPETENCY of the US Mint in not supplying the
market with American Eagle Coins in "quantities sufficient to meet
public demand" the same guy who hasn't figured out how to increase
production to meet Federal Law...WANTS TO CHANGE THE LAW!
"Moy
said he was encouraged that the House Subcommittee on Domestic Monetary
Policy "is exploring the possibility of an amendment that would afford
the Secretary [of the Treasury] the authority to approve the minting and
insurance of American Eagle Silver Proof and Uncirculated Coins even when we
are unable to meet the public's demand for the bullion versions of these
coins."
The
Tim Geithner and Banking Cabal who currently control the US Treasury is now
trying to take control of the entire gold and silver American Eagle Program
by "determining the materials" used in the coins!
"The
Department of Treasury is seeking the authority to determine the materials
for all coin dominations. Moy said "we are proposing to save millions of
dollars per year-over one billion dollars in the next 10 years-by determining
the materials for the other coin dominations."
The
reality is that the US Mint is deliberately breaking the law by rationing
gold and silver American Eagles. The weak excuses have been going on for 2
years. Here's a good one:
Q: How
many US Mint employees does it take to stamp a US Eagle?
A:
Two. One to turn on the machine and one claim there are no blanks!
Don't
worry folks. The Good Guys are all over this one. Don't forget that the US
Eagle Program was Barney Frank's baby back in 1987 and we currently have Ron
Paul on the sub committee:
"We
could not maintain the gold standard nor the silver standard. We could not
maintain the copper standard, and now we cannot even maintain the zinc
standard," Paul noted. "Paper money inevitably breeds inflation and
destroys the value of currency."
The
battles are heating up and the banking cabal knows the whole thing is about
to blow. If you don't believe in the timing let me quote my good friend Mr.
Moy...
However,
he added, "such a change needs to be enacted soon."
Buckle
up...we're about to take off!
Bix Weir
Bix
Weir is a freelance author and analyst dedicated to exposing the long term
manipulation of the gold and silver markets. He has worked closely with the
Gold Anti-Trust Action Committee helping to pull the curtain away from the
Cabal of International Bankers that have taken control of our free market system.
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