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By Joan Veon
June 15, 2009

Exerpts taken from the book, The Coming Battle, by M. W. Walbert

There has not really been a time in which the United States has had her financial foundation questioned until now. However, it was the Reagan tax laws in the early 1980’s which substantially increased the amount of debt that government, industry, and individuals took on in order to keep the “Reagan Revolution” going. It was then that America began to rely more heavily on foreign countries to carry our debt.

The debt has continued to climb, and as a result of the 2008 Credit Crisis has caused our lenders to question our ability to repay. By the end of 2008, the federal debt grew to 41% of GDP. Both Russia and China have said that it is time to make other arrangements for the dollar. Recently, astute Chinese students laughed when our globalist treasury secretary stated that the $768B China has lent America was safe since 82% of its $2T in foreign reserves is in dollars.

As the credit crisis has continued, there has been a noticeable revolution of debt from the books of the international bankers onto the backs of the American tax-payers. At every turn, this rotation of debt has spread to include the credit card industry, the student loan industry, mortgages, the automobile industry, and soon, the commercial mortgage industry. The idea of piggybacking debt onto the backs of the American taxpayer began with the same type of financial maneuvers that occurred in the late 18thC.

The credit crisis has also allowed us to see how the position of Treasury Secretary has become one of change agent and facilitator for the Federal Reserve as that position shifts power away from Congress at every turn to the Federal Reserve. Even The Washington Post on May 30 discussed how the Federal Reserve was given vast emergency powers in 1991. This power was orchestrated by Senator Christopher Dodd which have been used 19 times since March, 2008 to expand its power. Because it is a private corporation, many are “concerned that an institution not accountable to voters is risking vast amounts of public money and choosing which companies get help.” The Post article stated concern over the Fed’s rescue programs "that are outside the reach of Congress" and their recent agreement to “spur up to $1T in new lending by funding the purchase of securitized loans.” Congress is not thinking twice about the large amounts of power that they have vested in the Federal Reserve. Power which they are not and will not be able to “reign back in.” In other words, we may be reaching a time when Congress is no longer necessary as they have transferred their power to a private corporation, the Federal Reserve.

History repeats itself

They, (the international bankers) want to confiscate the people’s gold again, to save us from the financial disaster of their own creation, as they did by an Executive Order amended by Section 2 of the Act of March 9, 1933 to confiscate all gold coin, gold bullion, and gold certificates. Today, it's not going to be only gold, its going to be silver as well.

To add to the seriousness of the credit crisis are rumors that subsequently arise. Some of them have to do with a possible default by the Treasury on its debt. This default could force the world to move to a global currency such as the Special Drawing Right (SDR), which is a basket of our currencies and is used as a global currency between international organizations. At the April G20 Summit in London, a new offering of $250B of SDRs was agreed to. As a result of any default, the rumors state that Americans would be requested (asked)….or required (forced) to turn in their personal gold, and silver as well, to the government to help it out of its pickle. We need to examine whether it would be wise for us to do this.

In order for thinking Americans to make a decision of this magnitude, it is important to review some of our monetary history as presented in the book, The Coming Battle by M.W. Walbert, originally published in 1899 and republished by Walter Publishing in 1997. This book sat on my library shelf until just recently. As I read it, I was amazed to see that the similarities in the use of diabolical deceit, deception and distortion which occurred after President Andrew Jackson closed America's second central bank and today’s credit crisis are the same. Walbert warns about the evils of central banking and losing control of our country’s monetary system.

He reports on the financial situation of the central bank Jackson closed, which was set up like the Federal Reserve is today,

“The rottenness of the bank then became known and a complete investigation into its management from 1830 to 1836, instituted by the stockholders, developed an astonishing degree of villainy, corruption, and rascality, that was appalling, and the result of which more than sustained the charges brought against it by President Jackson and his supporters.” (The Coming Battle, p 24).

In July, 1832, President Jackson vetoed the attempt to renew the charter of the Second Bank of the United States. It took five years for it to shut down. From that time forward, until 1913 when the Federal Reserve Act was passed, in a very clandestine way, America was besieged by treachery on the part of members of Congress who sided and did the bidding of the Gold Cartel or money brokers located in London. When you read of the maneuvers and exploitations by the global power brokers of yesterday, you will conclude that they must be related for their tactics are the same! America (and the world) is in the throes of a major, catastrophic power play to transfer the final vestiges of our financial sovereignty to a GLOBAL central bank. In other words, we have moved from the national level of central banking to the global level of central banking. The control of gold that they foisted upon America and the world is at the heart of this power play, along with the debt they helped create in the late 1850’s to 1900. Sadly, nothing has changed in Congress as there are those today who are helping to facilitate this transfer of wealth thinking of their own benefit while sacrificing the entire country. Today their names are Senators Christopher Dodd and Charles Schumer, Congressman Barney Frank, and treasury secretary Timothy Geithner. These men may be members of the highly secret PS, a group dedicated to world government under British rule.

In order to determine just how badly the American people have been fleeced, it is prudent to go back to the 1850s. While most of us have limited past history to 1913 when the Federal Reserve was opened, the truth is the foundation for what is happening today started with the demonic jig which occurred between the Gold Cartel which Walbert describes as being led by the Bank of England, international bankers, key national banks and our Congress from the 1850’s until 1900. At one time, America used both gold and silver to conduct its business. As Walbert describes,

“…[G]old is the money of the wealthy, while silver is the money of the laborer. It is the small coins that most actively circulate in the channels of trade: it is gold that is hoarded by the miser and the capitalist. The small coins that are in active circulation have always eluded every effort to hoard them in large quantities. The rapid increase in the production of silver in the U.S. meant the financial liberation of the people from the money power of the east. The prospects for an enormous supply of silver from the western mines threatened the supremacy of New York City and London as the money markets of the world.” (p 76).

Senator John J. Ingalls from Kansas said in 1877 of silver:

“But silver is the money of the people. It is the money of wages and retail. Its tendency is toward diffusion and dissemination. It enters into the minute concerns of traffic and is exchanged day by day for daily bread. It penetrates the remotest channels of commerce, and its abundance, bulk and small subdivisions prevents its deportation in sufficient amount to disturb or unsettle values. If it retires at the approach of danger or from the presence of an inferior currency, it still remains at home ready to respond to the first summons for its return.” (p 162)

America had a policy of free coinage of gold and silver, and, as long as the law allowed the free coinage of silver, the America economy and people were free from the total control of the Gold Cartel in London and New York City who were conspiring as to how they could gain total control of our monetary system. The de-monetization of silver was their solution. The Gold Rush started in California in 1849 and silver was discovered in Virginia City, Nevada in 1859. By the time the Nevada mines closed in 1889, over $400M of mostly silver and gold was mined. At the time, this discovery empowered the West which was being challenged by the New York City money cartel. Silver’s discovery also threatened the control of the London Gold Cartel over America. Therefore, severe battles ensued in Congress to take silver out of circulation and reduce its coinage so that the world would be under the control of the Gold Cartel.

Because of the abundance of new silver in America, it reversed the balance of powers globally. Before the demonetization of silver, England and Portugal were the only nations whose monetary value was based on gold and the production of silver in the British Empire was small to that of America.

When the Civil War started in 1861, Lincoln refused to borrow money from the European bankers and instead, printed the Greenback which was a loan - without interest - and made legal tender in 1862. That year, the idea of “fractional” currency was introduced. That is where you could lend over and over again and expand the money supply based on an initial bank deposit.

Sadly, the war over who controlled America’s monetary was bigger than the Civil War. The war on silver was real. According to Walbert, “It has been charged time and again that Ernest Seyd, the emissary of the London Money Power was in this country at the time of the demonetization of silver and that he used the vast sum of $500,000 with which to corrupt Congress and to secure demonetization.” (p 105-106). Is it possible that our Congress would bow so low? Perhaps we should ask where the TARP monies went.

Silver was demonetized in 1873 and again Walbert blames the combined money power of England and America. He writes,

“It is a historical fact that the financiers of Great Britain were mainly influential in procuring that great change in the coinage laws of this country, and Senator Sherman, who introduced the first bill providing for the demonetization of silver, and who ever since 1873, has exerted his immense prestige and influence against every measure providing for its restoration, in whole or in part, gives most conclusive evidence that such was the case.” (p 107).

The Coinage Act of 1873 which demonetized silver and made gold the only legal tender was called the “Crime of 73” by the silver advocates. Many congressmen and senators were ignorant of the fact that it prohibited the coinage of silver. When Senate Finance Committee Chairman Sherman of Ohio was asked how the silver demonetization clause got into the bill, he said he did not know. Does any of this sound familiar? There were many with unblemished honor in the Congress who said the demonetization was premeditated and that they believed, “It is a historical fact that the financiers of Great Britain were mainly influential in procuring that great change in the coinage laws of this country, and Senator Sherman, who introduced the first bill providing for the demonetization of silver, and who ever since 1873, had exerted his immense prestige and influence….” Senator Sherman also became Treasury secretary as well as secretary of state. (p 107)

Silver proponents tried to bring silver back, but it was not possible to do so in its entirety. There were other battles that were being waged against the heart and soul of America by the Gold Cartel and London bankers.

By 1890, there were eight varieties of money in circulation which included (1) Gold coin with unlimited legal tender for all debts of every kind, public and private; (2) Gold certificates, limited to the amount of gold deposited in the Treasury, not legal tender, but could be counted as part of the national bank reserves; (3) Silver dollars, the By 1890coinage of which since 1878 had been limited, of full legal tender for all debts, except where otherwise specified in the contract, receivable for all taxes due the U.S. and exchangeable for silver certificates; (4) Silver certificates, limited to the amount of silver dollars deposited in the Treasury by their holders, not legal tender but could be counted as part of bank reserves; (5) US notes, known as greenbacks, their volume limited by the law of 1878 to $346,681,106, unlimited legal tender for all debts, pubic and private, except duties on imports and interest of the public debt, redeemable in coin in sums of $50 and upwards at the sub-treasuries of NYC and SF; (6) Currency certificates, limited by amount of US notes deposited therefore, not legal tender, could be counted as part of the national bank reserves, not receivable by the Government for taxes, exchangeable for U.S. notes, redeemable in that money at the sub-treasury where issued; (7) Treasury notes of 1890, issued for the purchase of silver under the Sherman law, unlimited legal tender, unless otherwise specified; (8) National bank notes, printed by the Government, and given to national banks, limited to 90% of the U.S. bonds deposited therefore in the Treasury, legal tender for payment of debts to national banks, for dues to the U.S. except on imports. (p 216).

The Sherman Silver Purchase Law of July 14, 1890 became law without the vote of a single Democrat as they were against the manipulations of the pro-gold republicans. It was understood that this bill, under the guidance of Treasury Secretary Sherman, would become the most "formidable weapon of the national banking money power to strike a deadly blow against the continued coinage of that metal into money." ( p 204). What happened was the silver dollars coined under this law where hoarded by the Treasury until Sherman could redeem the Treasury notes in gold. (p. 209).

According to Walbert, the key feature of this law was that the promissory notes payable on demand, made them redeemable in metal, but it did not specify gold or silver. If it had specified silver dollars, it would have been impossible for the national banking powers in the U.S., and the gold speculators of London and New York City to drain the Treasury of its gold reserves. However, we would be naive if we thought this was an omission. The banks of New York City, Boston, and other financial centers of the East were hoarding up gold, Treasury notes of the 1890 issue and greenbacks for the sole purpose of making an assault on the monetary strength of the United States. The Treasury Secretary committed to redeeming the Treasury notes and greenbacks in gold. This power was given to him by The Resumption Act of July 14, 1890. Back in October, 2008, our Treasury Secretary was given unbridled power by Congress to protect and defend America’s financial system. Within 11 days, he had used “emergency” powers to nationalize nine banks. The current Treasury Secretary still holds this power. Truly, history is repeating itself.

Walbert records, as a result,

[T]he money kings of Europe and the national banking money power, joined their forces to consummate a common purpose, the former to obtain gold out of the Treasury and sell it at a premium to Austria, the latter to force an issue of bonds and a suspension of silver coinage under the Sherman Law. On August 15, 1892, the firm of Heidelbach, Ickelheimer & Co., Jewish bankers of NYC, agents of a foreign syndicate, presented $1M in treasury notes at the sub-treasury in that city, and demanded gold for them, and stated that they wanted this gold for shipment abroad. Without hesitation, Assistant Treasurer Roberts gave this firm the required gold. (p 219).

The Assistant Treasurer gave notice that the Treasury stood ready to furnish all the gold required by the New York agents who would sell it to Austria at a premium in order to put it on a gold standard. They raided the Treasury of the United States because the door was opened. Very similar to all that has transpired during the 2008 Credit Crisis. We are in the process of the final raping of America. We have no more gold, we have no more assets as the ones we currently have are up for grabs by the current traitors to the people of America.

Lastly, Walbert explains why they raided the Treasury:

1. Because it brought to the aid of these banks the most powerful concentration of capital in the world, whose interests were identical with those of the national banks.
2. Second it would drain the Treasury of its gold and this would force an issue of long-time interest bearing bonds, which would serve as a basis for the continuance of the national banks system. These banks were accumulating gold to buy those bonds while they were assisting the foreign gold speculators in their efforts to drain the treasury.
3. Third, it afforded the banks the opportunity of demanding the permanent withdrawal from circulation and the consequent destruction of $500,000,000 in treasury notes and greenbacks, this currency to be supplanted by an equal issue of national bank notes donated outright to those institutions.
4. The national banks could point to the silver dollar as depreciated coin, and demand its redemption in gold to “maintain the parity of the metals.”
5. The whole volume of government legal tender notes, treasury notes, silver dollars and
silver certificates would become mere credit money, and the sold legal tender would be gold alone.
6. It virtually deprived the Federal government of its constitutional power to fix the value of money and transferred that highest element of sovereignty to the bullion brokers of the world.
7. It enabled the national banks to obtain a construction of the parity clause of the Sherman Law which virtually demonetized silver. (p 221)

To say that the American people have been raped, robbed, looted, and fleeced is an understatement. Today we are in the midst of the final plucking of American assets. We can now see how our Treasury was stripped of its gold and silver, how the American people have been moved into a world where gold is king, and where we are now in debt to the tune of trillions to our current central bank, the Federal Reserve. Now, they want control of the rest of our financial and economic assets by implementing “The Treasury Blueprint for a Modernized Financial Regulatory System” which was authored by a former international banker turned treasury secretary, Hank Paulson.

In light of the above, perhaps the average American should be hoarding silver so that we can operate outside of the Federal Reserve using silver between ourselves. In order to answer the question as to what should we the people do if the turn-coat Treasury Secretary defaults and demands our personal gold and silver, we need to remember the words of The Honorable John J. Ingalls, Senator from Kansas who delivered the following in 1877:

“No enduring fabric of national prosperity can be built on gold. Gold is the money of monarchs; kings covet it, the exchanges of nations are effected by it. Its tendency is to accumulate in vast masses in the commercial centers, and to move from kingdom to kingdom in such volumes as to unsettle values and disturb the finances of the world. It is the instrument of gamblers and speculators, and the idol of the miser and the thief. Being the object of so much adoration, it becomes haughty and sensitive—and shrinks at the approach of danger, and whenever it is most needed, it always disappears. At the slightest alarm it becomes to look for a refuge. It flies from the nation at war to the nation at peace. No people in a great emergency ever found a faithful ally in gold. It is the most cowardly and treacherous of all metals. It makes no treaty that it does not break, it had no friend whom it does not sooner or later betray. Armies and navies are not maintained by gold. In times of panic and calamity, shipwreck and disaster, it becomes the chief agent and minister of ruin. No nation ever fought a great war by the aid of gold. … Gold paid no solider nor sailor. It refused the national obligation. It was worth most when our fortunes were lowest. Every defeat gave it increased value. … But silver is the money of the people.” (p 132).

The answer in short is “HELL NO—not our gold, not our silver, and not our guns!” It is about time the American people decided they have had enough of central banking and being sold out by our imminent elected officials.

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Joan Veon is a businesswoman and international reporter, who has covered over 100 Global meetings around the world since 1994. Please visit her website: To get a copy of her WTO report, send $10.00 to The Women's International Media Group, Inc. P. O. Box 77, Middletown, MD 21769. For an information packet, please call 301-371-0541













According to Walbert, the key feature of this law was that the promissory notes payable on demand, made them redeemable in metal, but it did not specify gold or silver. If it had specified silver dollars, it would have been impossible for the national banking powers in the U.S., and the gold speculators of London and New York City to drain the Treasury of its gold reserves.