Silver and Gold ARE Money (PART 1/2)

Do you know how much gold is exchanged daily in dollars? If not, prepare to be shocked.

by Jake, the Champion of the Constitution
Published Sunday, March 29, 2009 at http://www.nolanchart.com/article6228.html

While gold trades as a currency (or "medium of exchange") and also is a "store of value," and even a "unit of account" for some, very little is actually consumed. Economically speaking, gold trades as money, even in our modern world. Gold is a luxury good with many industrial applications, but insignificant industrial consumption due to its high price per gram (about $30/gram right now). Its major market as a luxury good is Indian women's jewelry, but to these women the gold is their money, or insurance, if their mate leaves, dies, or is disabled so the metal is not consumed – it can be easily recovered. ( Photo) (2)

To make my case that gold is money, what seems to be little known is that the gold market is also quite large - the LBMA in 2008 traded about $80 billion USD per trading DAY per the data collected by the IFSL 2009 Bullion Markets Report p3/8 - which I took the time to verify to be correct from its original sources - or $20.3 Trillion in turnover in 2008 and 254 LBMA trading days. However, the IFSL makes a significant note that this volume is quite likely three-to-five times larger since much of the transactions are increasingly netted out and cleared without appearing in the statistics. Please compare this to the 2008 GDP of the United States at $15 Trillion and understand the rough estimate that 75% of the world's trade in gold (and half of the world's silver) is traded via the LBMA.

Silver, on the other hand, serves as both an industrial metal and a "store of value" for silver investors. As we learned here, both silver and gold are precious metals since there is very little aboveground stock. All of the gold stock in the world would fit into a cube 20.5 meters to a side. Due to high amounts of industrial usage, the silver stock is even smaller, less than 14.5 meters to a side.

However, as seen below, the silver market size at $10 billion is minuscule – just a tiny fraction of a percent - compared to the gold market. What is really mind-blowing is that the LBMA traded the entire annual mine production of silver every 6 days, while the annual mine production of gold was traded every 4-5 days, despite the fact that silver is priced as if it were a commodity similar to wheat, corn, or copper. You see, the aboveground stock of gold valued at about $4100 billion is equivalent to roughly 5.2 billion troy ounces of gold, but the annual mine production is only 0.087 billion. The aboveground stock of silver valued at $10 billion is estimated at roughly 1.0 billion troy ounces of silver and the annual mine production of silver is about 0.671 billion. (IFSL report, pages 5-8/8)

So the annual "stocks-to-flow" ratio of gold is 60, meaning that there is the equivalent of ~60 years of production aboveground for every year of production. In contrast, for silver the ratio is about 1.5, which is much closer to typical commodities which all lie around one year of production in aboveground stocks for every year of production. Gold is not just another commodity; mankind will never achieve perfection in all things, but nature's "metal of the sun" is as close to perfect money as mankind is going to get. Modern-day gold mines are lucky to exceed 1 gram of gold from each metric ton (24,250 pounds) ground and processed. If you never have, try holding a one troy ounce (31.1 gram) gold coin in your hand. It's 2.5 times denser than steel and took a lot of effort and risk to mine.

So, the equivalent of the entire aboveground stock of gold is exchanged every 269 trading days while the equivalent of the entire aboveground stock of silver is exchanged every 9 trading days at the LBMA.

I interpret the all of the preceding information to mean that gold has never stopped being used as both a money and a currency, even in the last 38 years of floating fiat exchange rates. Silver is money as well, but is not traded in high enough volumes, in dollar terms since the price per ounce is too low, to be considered a currency. Jason Hommel reinforces my point in his recent speech "Why Silver is Money."

Folks, this "stocks-to-flow" fact is well understood, but remains unstated, by the financial elite, most notably Obama's chief economic advisor and modern-day John Law, Lawrence Summers. If the world population widely understands the above and begin to both acquire the physical metal and clamor for the restoration of gold and silver as honest money, governments and central bankers could very well lose what is amounting to a stranglehold over the global economy. The world would realize that central banks are not needed whatsoever.

"Financial crisis"? Screw that, this is an all-out Gold War. Go GATA!!

For the Republic,

Jake Towne, the Champion of the Constitution

Per the Constitution of the United States, Congress and all states are forbidden to "make any Thing but gold and silver Coin a Tender in Payment of Debts."

Part 2 is now finished on silver backwardation and yet another new concern on the ETF SLV "Silver Backwardation Bout Ends as SLV Fails to Announce its New Custodian (PART 2/2)"

The Money Matrix series was recently updated with two articles on credit economics and OTC "dark" derivatives if you are interested "The Money Matrix on "Credetary" Inflation and Deflation (PART 9/15)" "The Money Matrix - Bring Light to Dark Derivatives! (PART 11/15)"

PS I realize I have a strong stance on the subject but please offer any rebuttals or feel free to ask any questions. I suppose another conclusion is that since gold trades around a quarter-quadrillion dollars every day, if you have saved money, depending on your circumstances it may be extremely foolish to not at least have some gold.

[Reach the Author Here!] www.CampaignForLiberty.com www.EndTheFED.us (Below is mine, photos linked above, graphs created by me from the same data the IFSL used. Feel free to use the below anywhere to promote Honest Money!)

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Nolan Chart Facebook Group Page Created

Summary of Articles and Bibliography for Jake, the Champion of the Constitution (1/1/2009)

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We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

As always, unlike the NFL, the author grants full permission to allow any accounts of, rebroadcasts, retransmissions, repostings in part or full of this article to your blog or anywhere else in order to promote the Restoration of our Republic.

Veritas numquam perit. Veritas odit moras. Veritas vincit. Truth never perishes. Truth hates delay. Truth conquers.

Tu ne cede malis sed contra audentior ito. Do not give in to evil but proceed ever more boldly against it.

As a disclaimer of sorts, I am a supporter of owning physical gold, physical silver, www.gata.org and www.goldmoney.com. Any investment or financial views expressed in the article are mine and mine alone, so make your own financial decisions by educating yourself. All I am doing is sharing my views to help you decide, even if its just to become aware that you do have a decision to make. These articles reflect the my opinion and are by no means a guarantee of future economic conditions. My articles are provided for INFORMATIONAL PURPOSES ONLY and are actually NOT MEANT to provide investment advice to anyone. You can even say its a charitable but naive act, given the historical tendency of the US government to oppress and steal.

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Other Related Articles by the Author

The Federal Reserve - A Good Company to Work For?

The Money Matrix - Who Owns the FED (PART 7/15)

The Money Matrix - How the FED Works (PART 6/15)

The Year of the Ox Arrives in China, Land of "Currency Manipulation" (PART 1/2)

GATA's Message on Gold and Silver Manipulation to Barack Obama (PART 2/2)

The "Gold in Backwardation" December 2008 Miniseries

Part I: "The End for the Dollar and all Fiat Currencies (1/5)"

Part II: "The Next Bubble to Pop! (2/4)"

Part III: "On Gold and Market Manipulation (3/5)"

Part IV: "The Significance of Gold Backwardation Explained (4/5)"

Part V: "More on Gold and Silver Backwardation and Manipulation (5/5)"

The "We Didn't Learn Much from the Great Depression" Miniseries

• The "Great Slump" of 2008 (PART 1/2)
• Bernanke's Great Lie - The "Gold Standard" and the Great Depression (PART 2/2)

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Gold and Silver Investigation Source List

The People's Money - a Facebook group that I assist with news postings.

A Quick History of Gold

GO GATA! The premise of the Gold Anti-Trust Action Committee that the world gold market is artificially suppressed by central banks in order to make their currencies look stronger. 25 minute intro Part (1) (2) (3)

www.GoldMoney.com - GoldMoney is an international gold and silver warehouse with insured vaults in London and Zurich. Ability to hold and pay interest on six major fiat currencies, issue payments in goldgrams, silver ounces, etc. Think of them as an alternative way to diversify where and how your physical metal is stored, but I urge you to be wary and thoroughly investigate this and ANY method where someone else holds your metal for you before investing. The best is always physical possession (or pay for storage at a Brinks-type depository) although you should always be creative with your storage locations :)

The World Gold Council - A wealth of information on central bank holding, gold derivatives, supply and demand statistics and more. Free login required.

Rothbard, Murray N. "What has the Government Done with Our Money?" (1990) A 50-page document that describes Austrian economics. Rothbard has written a host of other great sources as well, like the 1994 work "The Case Against the Fed."

www.jsmineset.com Expert Jim Sinclair shares his thoughts on gold investing, financial markets, and trading. For free!

www.DollarCollapse.com This site's main use is as a newsfeed for dollar, gold, and housing market current events. They explain their dollar collapse theory here, which I partly agree with.

www.SilverSeek.com I particularly enjoy reading the columns of Theodore Butler and Jason Hommel

www.GoldSeek.com The sister site of SilverSeek. The Mogambu Guru's (aka Richard Daughty) column has tunnel vision but hilarious and educational..

www.professorfekete.com A seriously pro-gold scholar.

www.lemetropolecafe.com Offers timely gold market advice and a daily "Midas" column. Try the 2-week free trial.

Paul, Ron. "Pillars of Prosperity." (2008) A 400+ page compilation of Dr. Paul's writings. After reading these, one realizes that Dr. Paul did very little recent work in putting together his best-selling "The Revolution" as most of this book was written 20+ years ago.

Millar, Peter. "The Relevance and Importance of Gold in the World Monetary System." (2006). Self-explanatory title. Understanding Graph 2 on page 3 is key.

Greenspan, Alan. "Gold and Economic Freedom." (1966) Interesting work from the Maestro prior to his conversion to inflationary Keynesian theory.

The Money Matrix - Bring Light to Dark Derivatives! (PART 11/15)

July 24, 1998, was an epic day for the global financial system. Federal Reserve Chairman Alan Greenspan stood before Congress's Banking and Financial Services and testified. This article and the next part will focus on these two testimony excerpts concerning derivative regulation and the gold market.

by Jake, the Champion of the Constitution
Tuesday, April 7, 2009 from http://www.nolanchart.com/article6266.html

WASHINGTON D.C. - July 24, 1998, was an epic day for the global financial system. Federal Reserve Chairman Alan Greenspan stood before Congress's Banking and Financial Services and testified. This article and the next part will focus on these two excerpts from this testimony.

"In conclusion, the [Federal Reserve] Board continues to believe that, aside from safety and soundness regulation of derivatives dealers under the banking or securities laws, regulation of derivatives transactions that are privately negotiated by professionals is unnecessary."

"Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise."

In his testimony, Greenspan recommended to Congress that regulation of Over-The-Counter (OTC) derivatives between private parties was not necessary. These derivatives are referred to as "dark derivatives" as they take place away from exchanges where the terms could be made public and the companies examined by the exchange for counterparty risk – the risk that a company would be insolvent or bankrupted by the time when the derivative comes due. For instance, the metal commodity markets like the NYMEX require a 100% cover of all deliverable contracts (leverage transactions still require a 90% cover per 17 CFR 31.8), and examine the solvency of both parties. The remainder of this article will delve into the consequences of this action.

Less than two months after Greenspan's testimony, the failure of the hedge fund Long Term Capital Management nearly deflated the developing stock market bubble as it took $4.6 billion USD in derivative-based losses. The Federal Reserve leapt to the rescue, leading a cabal of investment banks to pony up $3.6 billion USD. Goldman Sach's CEO Jon Corzine was forced out shortly afterwards by the future Secretary of the Treasury, Henry Paulson. Corzine would move on to become a US senator and is the current governor of New Jersey. Bear Stearns refused to cooperate and later became the first major casualty of the Panic of 2008.

Greenspan's second comment was that central banks would act to suppress the gold price by releasing central bank gold into the market was quite similar to what the London Gold Pool of the 1960s had attempted - and miserably failed – to do: control the price of gold. This is tantamount to stating that the financial "canary in a mine" would be both hooded and castrated in public view. Even in today's troubled economic times, most members of the public are completely unaware that the 2008 daily trading on the London Bullion Market Association exceeded $80 billion USD per trading day, or $20.3 Trillion USD for the year. Part 12 will delve more into the suppression of the gold price, building off of the excellent work put together by the Gold Anti-Trust Action Committee, or GATA.

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Bring Light to Dark Derivatives!

First, let's see what has happened with the OTC derivative market since 1998. The short answer is that the value of the notional amounts exploded from $72 Trillion to $684 Trillion in June 2008 per the data provided from the Bank of International Settlements, or BIS.

Before moving on, let's add one more definition to the list from Part 10, "What the Heck are Derivatives?"

Notional Value - the value of a derivative's "underlying assets" at the spot price. In the case of an options or futures contract, this is the number of units of "underlying assets" specified in the contract multiplied by the spot price of the asset.

Let's say I wanted to speculate on the price of crude oil. I could buy an October 2009 contract to deliver 1000 barrels at $60 a barrel plus exchange fees. The notional value of this contract when purchased is $60,000 but it will not be exchanged until October. In the meantime, if the spot price of the oil drops to $40 per barrel, the notional value drops to $40,000. Furthermore, although the contract gives me the right to buy the oil, I am not the owner of the oil until October arrives and the contract is delivered. The oil is the "underlying asset" of the contract.

The same could be said for a credit default swap on a corporate bond, a swap based on the dollar's interest rate. Or a "mortgage-backed" collection of securities. As you can see, the "underlying asset" can be physical property like the barrel of oil, but it could also be much more nebulous, like a derivative based on the ability of hundreds or thousands of people to collectively pay their mortgage on time. Plus, how much are these written contracts actually worth while they have not been exchanged? Well, the BIS gives this information which I used to make the below chart on "gross market value." This grew from $2.5 Trillion in 2008 to "only" $20.4 Trillion as of June 2008.

Interestingly enough, the BIS also placed a "market value" on "gross credit exposure" of $3.9 Trillion in June 2008. This is the leftover amount after taking into account all contracts that offset each other. Theoretically there is a long contract for every short, but per the BIS this is not always the case. (I do not have specifics yet but this may involve leveraged transactions). So this amount signifies the "market value" of those derivatives where there is a possibility of totally unhedged losses. I must state it's not appropriate to do so other than to obtain a rough idea, but if the percentage of the gross credit exposure could be estimated as proportional to the nominal value, this would work out to a whopping $130 Trillion.

However, how can you place a "market value" on all the various types of derivatives? Most especially, how can you call this a MARKET value if there is NO market for these contracts – remember that all OTC derivative transactions take place directly and privately between a buyer and seller.

The Paper Property System and Derivatives

This requires us to look at the derivatives problem in a new light. The crux of the matter is that OTC derivatives have an unknown worth – the BIS "gross market value" calculation is, in my humble opinion, nonsense. Let me explain.

First one should understand that our entire property system is founded on paper documents. If one owns a car or a house in the United States, one must also have a deed or title to that property. If one buy goods from a store, there is a paper record – a receipt – that serves to transfer ownership of the good from the store to the individual. Online transactions merely substitute screens for this paper record. Whether a corporation or an individual, one typically has to prove their identity in some way based on paper – a passport or driver's license or business license – before doing business with each other. The vast quantity of transactions we execute are done with unseen other entities. Also recognize that when you purchase or sell a stock share or mutual fund share you are selling it to an unknown person, usually via some exchange that you trust to transfer your property – which is really just a paper document.

This system of property identification and organization is founded on our rule of law. However, many fail to realize that this link of property to paper documentation does not exist in many places in the world – many Latin American and Third World countries do not have a very clear, transparent property system setup. However, the size of the OTC derivative market has led the modern-day United States into a similar Third World scenario! We do not understand (and have lost) the link between the paper derivative contract and real assets.

Furthermore, we no longer know if these pieces of paper has any worth and are tethered to real assets with actual value. All derivatives are really instruments of quasi-property. These credit instruments pretend to be based on (fiat) money, but they are not really anchored to anything!! They masquarade as real property, but at best are just forms of quasi-property.

Remember, we live in a paper property system. Without the knowledge on what these investment bankers and their financial engineer assistants have done, there is no way to know if they are bankrupt. Let me repeat. THERE IS NO WAY TO KNOW FOR SURE IF THESE COMPANIES ARE SOLVENT. There is no way to know if its even POSSIBLE for the government or FED to help a few banks or companies if we do not understand what these troubled companies really possess. Executing on eco-political policies and ideas like one "big, bad toxic bank" is an inane idea since – I cannot stress this enough - we do not have the information to know whether these actions will help or not. Which derivative contracts are the "toxic" assets? Where are they? Exactly what assets are they based on? Who owns them? Which counterparties are solvent?

The Pregnant Economy's Credit "Baby"

Think of the world economy as a pregnant woman. From the outside, we can examine its monetary structure and all the goods and services it produces, but we cannot view the credit hidden inside the woman's belly. (photo from petercanfail)

Without testing with an ultrasound or checking for movement, we do not know anything about the baby.

1. Perhaps the baby is in perfect health.

2. Perhaps the baby's head is too large and Caesarian needs to be performed or perhaps the umbilical cord is wrapped around the baby's neck and will choke it if delivered normally.

3. Perhaps the baby has already died. (I hope not!)

The horse I am beating to death is that it's impossible to know if a cure is needed and what the cure should BE if the information of this "shadow economy" is not being shared. When $684+ Trillion dollars (possibly past $1 Quadrillion as this is based on September 2008 numbers) is involved, we simply must have the information if we are to move forward.

There is no way for the economic crisis to end without understanding the actual worth of these derivatives. Let me repeat again. THERE IS NO WAY FOR THIS CRISIS TO END WITHOUT UNDERSTANDING THE TRUE WORTH OF THE DERIVATIVES MARKETS. Light must be brought to dark derivatives because there is no confidence in the value of both the derivatives but to some extent even to all assets. Mark my words, the world will remain in a state of unease, in a state of endless price discovery, until light is brought to the OTC derivative mess.

Now, if the OTC derivative market did not have high degrees of insolvency, it stands to reason that all information would already haven been available – and the world would not be in crisis, Lehman Brothers and Bear Stearns would not have failed, the major banks like Citigroup and Bank of America would not have been halfway nationalized, and the remaining investment bankers and commercial banks like Merrill Lynch, Goldman Sachs, JPMorgan Chase, and HSBC would have been able to carry on business pretty much as usual, regardless of the subprime mortgage crisis. Therefore, the credit "baby" is not in perfect health.

Therefore, the question becomes how bad is this insolvency? Can the credit "baby" survive with an operation or not? Is it "just" several mega-banks that will be insolvent? Or is the credit "baby" dead-on-arrival and the entire financial system will come crashing down, as was feared during LTCM in 1998, and during the Lehman Brothers/Bear Stearns aftermaths of 2008?

Of course, we have made a bit of a circle, as there is no way to know the answer to this question without the information. My opinion is that what seems to have occurred is that the banking cartel is attempting to weather the storm by frantically repairing its balance sheets with bailout money from a compliant Congress or bailout money from the FED. However, the problem does appear to be fairly catastrophic as the losses for certain banks are most likely too large to paper over with bailout money, and credit extended from by other banks has dried up as they are (rightly) extremely worried about counterparty risk.

No Relief from Past or Future Banker Bailouts

Let me repeat. The bailout money issued by Congress to the AIG, Citigroup, etc. is almost certainly too small to have any effect on the derivatives problem. $750 Billion, $787 Billion, $2 Trillion bailouts are like throwing pebbles into the ocean when compared with $500 Trillion to $1 Quadrillion. Look at their asset to nominal value ratios and percentage of OTC "dark" derivatives below and please inform me if you come to a different conclusion and why. (Data from Department of Treasury's December 2008 OCC report, page 24/33)

Transferring enough paper dollars from hard-working taxpayers either in the present or in the future to these ill-run banking companies can only result in a dollar currency crash similar to what happened in Iceland or many Latin American countries during the '80's and '90's, and hence the (further) impoverishment of the American people. As others have written, this is truly a privatization of the 1998-2007 gains and socialization of 2008-and-onward losses for the banking and investment banking cartels.

The Future

Obviously for a future resolution to occur, Greenspan's actions should be reviewed in hindsight, the informational deficiency needs to be made transparent, and companies that survive and have not committed fraudulent acts should be penalized by the marketplace for carrying out too sizeable over-the-counter deals without seeking an exchange to verify and secure the counterparty risk. Turning to the future, all involved should consider instead to focus on the true wealth production of goods and services, not questing in search of "riskless" paper-shuffler profits like the financial engineers of the past decade.

Of course, this discovery will eventually happen naturally in the United States - unless we enter a totalitarian society and are led to war by our leaders to either control or confiscate even more of the world's wealth but also to refocus the populace on both interior and exterior scapegoats for our fiscal problems. Again, there is simply no other way for our economy to function again on a non-war footing without this information from the financial companies. Of course, the wars will do nothing except worsen the state of economic suppression everywhere in the world, including for most Americans, except for the few elite who may prosper.

Taking the optimistic view, there is no way to know when this discovery will happen, and as much as I believe in the "separation of business and state" the fact of the matter is that the political will of Congress must be brought to bear on the banking cartel led by the FED. There are some encouraging signs. In early April, the FED urged its major cartel members and hedge funds to list their credit derivatives on an exchange in New York City. Congressman Ron Paul's Federal Reserve Transparency Act of 2009, HR 1207, has now reached 58 co-sponsors. This act will enable the American people to audit the FED.

Answering Questions Posed from Part 9

Q: Although many Austrian economists makes perfect economics sense from the standpoint of monetary economics, do their analyses hold up from the standpoint of credit economics?

My answer: Not necessarily. In fact, credit economics most likely answers why their predictions of hyperinflation and massive dollar devaluation have not yet occurred.

Q: What occurs when credit contracts, causing credetary deflation, while monetary inflation continues?

My answer: They act as opposing forces. When both credit and money supply inflation were occuring during the earlier part of this decade, price inflation was indeed seen. In fact, up until July 2008 commodities were on an upward parabola. Credetary deflation may have caused commodity price deflation. In our contemporary time of near-zero or dropping interest rates, definite and measurable monetary inflation, and continued (but unmeasurable) credetary deflation, it is easy to predict plummeting manufacturing and service-related job losses. Consumers have slowed purchases of homes, autos, and non-essential goods since many are uncertain in what the future will bring. Economists cannot make meaningful predictions without bringing light to the dark derivative market, but even then numerical answers will not exist due to the Misesian theory of human action.

Q: What happens when we lose track of the value of these paper credit instruments that are in fact forms of quasi-money?

My answer: Historically, when property, money, and credit become out of balance, panics or depressions occur. Again, we will likely stay mired until this quasi-money is fully or mostly accounted for.

Q: What can the average citizen do?

My answer: Well, besides continuing to read the Money Matrix series (grin) it's important to stay optimistic, educate yourself, become politically-active if you wish and enjoy life. In uncertain times, its best to conserve funds as much as possible, and it's never to late to start saving if you plan a future for yourself and your family. Any private debt needs to be dealt with in a rational manner. If continued price inflation or even hyperinflation (subject for another article) appear imminent (it does not appear so to me at present), what is slightly paradoxical is that being in debt will be of great advantage as currency devaluation reduces the principal of the debt's purchasing power. In the meantime, private individuals should consider diversifying savings from the fiat dollar currency into hard money, namely gold and also silver to avoid fiat currency risks. As explained in this series "The End for the Dollar and all Fiat Currencies (1/5)", the derivatives market sets the market prices for gold and silver, but if this crisis of confidence worsens, these assets are by far the best money to hold.

Postscript - I was delighted to hear South American economist Hernando de Soto discuss this at mcalvany.com and has published several articles on this subject, including this one from the Wall Street Journal as well. It may not take a genius to realize that Greenspan made a big mistake, but its nice to hear a fairly mainstream guy recognize this as well. In particular I recommend the McAlvany audio as de Soto is far more knowledgeable, educated, and easier to understand on this subject than me.

"Some say the end is near.
Some say we'll see armageddon soon.
I certainly hope we will.
I sure could use a vacation from this!!"

- Tool, "Aenima" - Time to end the wait to see which of the dark derivatives will hold water and which will need to, as Tool puts it, "learn to swim."

The Money Matrix Series

1. America, Were Michael Phelps' Eight Olympic Gold Medals Worth Winning?
2. The Money Matrix - Prelude (PART 1/15)
3. The Money Matrix - What is a Dollar Bill Worth? (PART 2/15)
4. The Money Matrix - What Makes Money Money? (PART 3/15)
5. The Money Matrix - What is Honest Money? (PART 4/15)
6. The Money Matrix on the Grand Deception of Seigniorage (PART 5/15)
7. The Money Matrix - How the FED Works (PART 6/15)
8. The Money Matrix - Who Owns the FED (PART 7/15)
9. The Money Matrix on "Credetary" Inflation and Deflation (PART 9/15)
10. The Money Matrix - What the Heck Are Derivatives? (PART 10/15)
11. Save Ron Paul's Voice - A Money Matrix Addendum
12. A Money Matrix Addendum: Citigroup and GATA Call for an End to the Suppression of the Gold Market
13. MY PROPHECY - The Federal Reserve Will End! A Money Matrix Addendum
14. Silver and Gold ARE Money (PART 1/2)

Tu ne cede malis sed contra audentior ito. Do not give in to evil but proceed ever more boldly against it.

[Reach the Author Here!] www.CampaignForLiberty.com (Banner courtesy Mike Burke)

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We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

As always, unlike the NFL, the author grants full permission to allow any accounts of, rebroadcasts, retransmissions, repostings in part or full of this article to your blog or anywhere else in order to promote the Restoration of our Republic.

Veritas numquam perit. Veritas odit moras. Veritas vincit. Truth never perishes. Truth hates delay. Truth conquers.

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Nolan Chart Facebook Group Page Created

Summary of Articles and Bibliography for Jake, the Champion of the Constitution (4/4/2009)