Ed Griffin admits the Bankers own all the Gold and that Usury is the issue
In an amazing interview with the restarted Daily Bell, Ed Griffin candidly admits the Banker own all the Gold and that Usury is their main tool.
Some time back the Daily Bell restarted their operation. Openly admitting they were in it to provide good investment advice, which is fair enough. For a while they left us alone, focusing on commentating on current events. But a few days ago they unexpectedly reopened our little feud with an uncannily scathing attack at paper money reformers in general and ‘the anti-usury crowd’ in particular.
To be honest, I would have ignored it, I don’t really know what there is left to say about Austrianism and the Daily Bell’s quaint economic ‘theories’ that has not already been said many times now. But then a few days later they posted a highly intriguing interview with G. Edward Griffin, directly responding to a number of vital issues that I discussed in ‘Who is Ed Griffin?‘. This article described how Ed Griffin’s ‘the Creature from Jekyll Island’ aimed to subvert the legacy of Ezra Pound and Eustace Mullins in the Truth Movement. Mullins, coached by Pound, described how the bankers created the Federal Reserve and how they love Gold, which Griffin tried to make go away with his book. Pound’s great enemy, of course, was Usura, not paper money or, God forbid, ‘inflation’.
Interestingly, in the already mentioned hit piece, the Daily Bell warned its readers for people talking about the Federal Reserve being ‘private’, but this was not an issue interviewing the author making a career of claiming the same thing. As we know, the Daily Bell, Ron Paul, Tom Woods and all the others want us to believe Central Banking is a ‘statist’ operation, fiddling with the wonderful free market operations of the banking cartel.
Ed Griffin responds
Let’s just get to the core of it. The interview is here.
Anthony Wile asks Griffin: “Public banking types – those who want a central bank controlled by “the people” – continue to attack libertarian websites for proposing that gold is money. They believe all gold is owned by central banks and elite families and their colleagues.”
Griffin responds: “I think the main question there is the assumption that the gold supply in the world is predominantly held by the richest families and the banking cartel. That’s not a truth. There’s no doubt they own a lot of gold and maybe in terms of any single source they may own more than any other single source unless you consider the earth itself. Most of the gold in the world has never been dug out or pulled out in any form at all – 99.99% of it is still in the earth and the oceans. There is no doubt that bankers have a lot of gold and the reason they have gold is because they’re smart. They know that gold is a storehouse of value and that as all the currencies of the world devalue, those who hold gold will not lose their wealth. So they’re smart.
Now, the issue is what about the rest of the gold? Who owns that? Well, like I said, most of it’s still in the earth. When the price goes up people start to dig it out, extract it from the oceans. One of the reasons they’re trying to suppress the price is so as not to make it attractive. I personally became involved in a very small gold mine in Montana some years ago and as we were activating that gold because the price went up there were new mines opening up all over the place that had been dormant for all these years. Gold is everywhere. It can easily be extracted; it’s just a question of price. If you allow the price to seek its normal, free-market level then the price would balance. So there’s no shortage of gold. When the price goes up, all the gold that’s in people’s drawers in the form of old watches and rings and bracelets and stuff, which is a tremendous amount, will come back into the market.”
So there you have it: the Bankers own the Gold, but we’re lucky: 99,99% of the Gold is still in the Earth and when the price rises, more people will dig up Gold. At this point they’re talking about 170,000 tonnes of Gold as the Globe’s official reserves and mining adds about 1% per year to that. So, should we move on to Gold as money, we can just dig for Gold a few decades and have some Gold of our own. Bankers are just very smart, you see?
This is Ed Griffin’s line.
He then continues:
“So the question is, then, how come the banks are the leading opponents of backing a money system with gold?”
So even in the face of his own admission that they own it all, Griffin still claims the bankers are against Gold as money. Of course Griffin is just pretending he doesn’t understand the Dialectic, where the bankers own both sides of the conflict, in this case Paper vs. Gold.
Before getting into this, here’s the other major issue that Wile brought forward: “What are the top men of central banking interested in? Are they in it for the usury or are they in it for control? This is a major and profound question, in our view.”
Yes, you read that right: The Daily Bell wonders whether the bankers are in it for the Usury! Of course he’s only talking about ‘the top men of central banking’, but perhaps in a next interview he can explore the Trillions of usury commercial banking rakes in yearly? Please remember the Federal Reserve Bank pays back to the Government the usury it makes on Sovereign debt it holds. And that commercial banking creates up to 97% of all money in the economy, not central banks.
Here’s Griffin’s response: “The top bankers are interested in it for the usury but their partners in politics are interested in it for control and it’s hard to say which is which, between the two of them, because it’s a revolving door now. I would say central banks, or the big banks that comprise the central banks, and governments now are welded together into one sold piece. It’s hard to distinguish or pull them apart. So the answer to that question is both usury and control.”
Of course it’s not or/or but both: power, control, this is what the enormous wealth of Usury begets them and indeed they (politicians and bankers) are indistinguishable. The politicians are owned by the bankers though, that should be clear but it’s something Austrianism prefers to downplay for obvious reasons.
So, hardcore Austrians Anthony Wile and Ed Griffin conclude: the bankers own all the Gold and they are in it for the Usury (and the control it brings).
All that is now left is the question: how then, if we move to Gold as currency, will there be no usury? How will there be no control? If they own all of it anyway? Will the Bankers not lend the Gold into circulation at interest?
Why are the bankers against Gold monetary reform, as Griffin continues to maintain, even in the face of these stunning admissions?
We can of course talk about the dialectic, Paper vs. Gold in this case, with the bankers owning both sides and routinely ‘attacking’ one of the protagonists to create the illusion of real ‘conflict’. But why would we. Ed Griffin knows this, as does Anthony Wile.
They’re just out of ammo and they know it and thanks to this interview, we do too.
Who is Ed Griffin?
The Daily Bell: Usurious Commercial Banking is Good, Interest-Free Government Money is Tyranny
How the Money Power created Libertarianism and Austrian Economics
Austrianism is Dying! Truthers Unite!