Audio Letter #59

Hello, my friends, this is Dr. Beter. Today is October 31, 1980, and this is my AUDIO LETTER® No. 59.

Earlier this month millions of baseball fans were preoccupied with the World Series. The World Series is always great fun with plenty of excitement and suspense right to the end; and even if your team loses, it’s not so bad. There’s always next year. Now you and I are caught up in a “world series” of a different sort. Ours is a series of battles to determine what sort of world we will leave to our children, and there will be no rematch next year! If we strike out now, the game is over, so we need to keep swinging until we finally hit that home run we need in order to win.

My three special topics this month are:

• Topic #1 -   THE IRAN HOSTAGE RELEASE PLAN FOR WAR

• Topic #2 -   SENATOR WILLIAM PROXMIRE AND “ACTION STEP 4”

• Topic #3 -   “ACTION STEP 5” ON A NEW BATTLE FRONT.

Topic #1

- During this month of October 1980 three issues have dominated the news here in the United States. One has been the continuing war between Iraq and Iran. That has been overshadowed in turn by sudden new rumors about a possible release of our hostages in Iran. And the third issue, riding the waves of other events, has been the up-coming election. These three on-going news stories are all related, and in turn they all reflect a fierce struggle behind the scenes among three (3) different power groups.

One group is that of the Satanic Bolsheviks who now control the United States government. Another group is that of the Rockefeller Oil Cartel now under the control of John J. McCloy. And the third power center is in the Soviet Union whose rulers today are in a battle to the death against the Satanic Bolsheviks. The primary actors right now are the Bolsheviks and the McCloy Oil Group. It is they who have done most of the maneuvering in the Iraq-Iran war, in the hostage release rumors, and in the election build-up. But in all three areas, Russian agents have been joining the fray too. Wherever possible they are trying to interfere with Bolshevik plans even if that helps Big Oil temporarily.

For most Americans, the rumors about a possible hostage release have become a central issue in recent days. It seems to have sprung from the Iraq-Iran war and talk of trading spare parts to Iran for the hostages. And the prospects for a hostage release are also being watched for their effect on our national election. And so after nearly one year, the Iran hostages are again on center stage. And now as then, my friends, the real stakes in the Iran hostage issue involve the danger of thermonuclear war.

Last month in AUDIO LETTER No. 58 I explained how the Iraq-Iran war was triggered. It involved a huge bribe to Iraq engineered by the Rockefeller Oil Cartel, and it was paid in gold - $8,000,000,000 worth of gold! This was part of the very gold which was stolen years ago from the United States Treasury Depositories. The goal of Big Oil is the one I explained last month. They want to finish what they started by their overthrow of the late Shah of Iran. They want to retake control over Iran with its oil riches on new and more profitable terms, and to do that they want to topple the so-called Khomeini regime one way or another. The war with Iraq is supposed to begin that process, but Iran is not the only arena in which the crumbling Rockefeller Cartel is trying to reassert itself.

It’s happening also right here in the United States. All of the old faces from the heyday of Rockefeller power under the
Nixon Administration are clustered together right now under the Republican banner. The ghost of Nelson Rockefeller is grasping for the White House once again. Meanwhile the Bolsheviks who have seized control of the United States government have no intention of letting go, and the easiest way for them to retain control is simply to keep the same faces on the scene. And so the Bolsheviks here are doing everything they can to prevent a change in the White House.

Last month I reported that the Rockefeller Big Oil Group had worked hand in glove with this Bolshevik government in the Iraq-Iran war. But here at home, the two are rivals. Last month I said that Big Oil was only setting itself up for double-cross by the Bolsheviks; and sure enough, this month the Bolshevik double-cross began to materialize in the form of a sudden new hostage release plan. By means of this one ploy, the Bolsheviks in the United States Government were hoping to pull the rug out from under the Rockefeller Oil Group, both in the Persian Gulf and in the election here.

On October 6 the Republican campaign announced the formation of a Special Advisory group. The group was said to be for the purpose of watching for and planning against a so-called “October surprise.” It was feared that something was about to happen to upset the apple cart just before the election. The very next day, October 7, their fears began to be realized. An independent presidential candidate, Barry Commoner, announced that he had received a hostage release proposal from Iran. It was turned over to the State Department, and there began to be flurries of excitement. On October 9 the hostage story warmed up some more. That day State Department spokesmen stated that they were in contact with the hostages. Referring to the top ranking hostage, Bruce Langdon, the spokesmen said, quote: “We are in contact on a regular basis.”

The next item to build anticipation over the hostages came from Norway. Norway, like Iran, is in the front lines of the Bolshevik planning for a nuclear first strike at Russia. I reported that long ago in AUDIO LETTER No. 37; and on October 10 a newspaper in Oslo, Norway helped to move along this latest Bolshevik ploy. The Norwegian newspaper quoted former Iranian Foreign Minister Ghotbzadeh as saying that Iran should release the hostages immediately. In the United States the excitement built up another notch.

For the next week or so the Iran hostage release rumors were allowed to simmer for a while. Then on October 17 Iran’s Prime Minister Rajai provided the next excuse for heightened rumors. He appeared before the United Nations Security Council where he bitterly attacked the United States for helping Iraq in the war, but that was downplayed in the news compared to other remarks Rajai made in a news conference a day later. Under pressure of the war with Iraq, Iran seemingly was looking for a way out of the hostage crisis.

The rush of rumors turned into a torrent after that, and on Wednesday October 22 NBC Nightly News carried a sensational report. It was said that there had been a “breakthrough” in the negotiation over the hostages. Supposedly the Iranian Parliament was almost certain to set conditions for the hostage release during debate on Sunday, October 26, and that could be followed by the actual release of the hostages as early as the next day.

Up to that point the Bolshevik planners had everything going their way. By their calculations, the release of hostages on
that schedule would have guaranteed re-election of this Bolshevik Administration, because the entire week preceding the election would have been filled with news of the hostages. There would have been the drama of the release itself, then for days stories of some of the hostages coming home, others going to intermediate stopovers for medical treatment. Stories of reunions, interviews of former hostages and their families, special news reports to rehash it all. And, my friends, if it had all gone as planned there would have been euphoria here on election day 1980. Millions of formerly undecided voters would have been caught up in the emotion of the moment, and the Bolsheviks were certain that they would pull the lever marked “Jimmy Carter” in the voting booth. It did not matter that cynicism would set in later over the timing of the release. By then, the election would have been over and the deed would have been done. That was the Bolshevik plan of the United States Government, but once again Russian agents are trying to intervene in an effort to unravel these Bolshevik plans.

From the very beginning the hostage situation in Iran has been under Bolshevik control, as I first revealed in AUDIO LETTER No. 52. But the Bolsheviks do not exercise complete control over Iran, because the Russians have also succeeded in establishing an important level of influence in Iran nearly a year ago. In the present situation, Bolshevik agents in Iran tried to stampede the Iranian Parliament into the quick action they wanted. But Russian agents succeeded in at least slowing down the stampede, and the Bolshevik timing was delayed. So now even if the release of the hostages does take place in one form or another, the effect on our election is less predictable. A last minute release could even have a backlash effect on voters due to cynicism, and so the election is now up for grabs. It could easily go contrary to Bolshevik wishes. If it does, that will be a setback for the Bolsheviks, mainly in terms of delay. They will be forced to re-establish control over any new administration. That will cost the Bolsheviks a little bit of valuable time in their frenzy to set off NUCLEAR WAR ONE, and that is exactly why the Russians want a change of administration simply to slow down the Bolsheviks.

But I mentioned earlier that the hostage release ploy of the Bolsheviks was set in motion for two (2) purposes. One was to undermine the grab for the White House by the Rockefeller Big Oil Group under the name of Ronald Reagan. That purpose depended strongly on timing, and so has probably been ruined; but the other purpose of a hostage release at this time is still on track. It is part of the latest Bolshevik scenario to lead up to a nuclear first strike against Russia.

The first step in this latest war plan was to set off the Iraq-Iran war, as I mentioned last month. The Rockefeller Big Oil Group did this, thinking they were starting the downfall of the Khomeini regime; but the Bolsheviks here used it for another purpose instead. Basically the Bolshevik United States Government is saying to Iran: “Release the hostages and we will give you military help against Iraq”, which is backed by Big Oil; and to get ready, a sizeable Amphibious Attack Force of United States Marines is on the way. The Force includes a helicopter carrier, landing craft, and some 1,800 Marines. It passed through the Suez Canal very quietly on October 27 heading for the Persian Gulf. The tactics keep changing but the strategy is always the same.

Lately our fears have been stoked up over Russian designs on the Middle East and Persian Gulf. First Russia was given a black eye by its past ties with Iraq when Iraq invaded Iran. Now we are hearing about Russian overtures to Iran by supplying certain war needs. And in the midst of it all is the hostage release ploy. The Bolsheviks here are trying to set the stage for a massive American military return to Iran. If the plan succeeds, it will be as I described it long ago in AUDIO LETTER No. 37, and I quote:

“The American public will demand that it is time to stand up to Russia, and with full public support American troops and weapons will pour into Iran. From that point onward the outbreak of NUCLEAR WAR ONE will be all but impossible for the public to follow by way of the so-called news.”

(End of my quotation from AUDIO LETTER No. 37.) The Russians know what is afoot and they are trying to ruin the plan. In this case, that means trying to spoil the hostage release negotiations altogether. Up to now Russian agents in Iran have succeeded in spoiling the timing of a hostage release, and they are still at work as I say these words on October 31, hoping to prevent the hostages from being released at this time. If they succeed, it will be the fourth time during 1980 that nuclear war has been averted. Even so, the Bolsheviks who have taken over our government never rest.

By the time you hear this, the election will be past and the matter of the hostages may have been decided, but the Bolsheviks already have another serious crisis building up in Poland. For two years now the Bolsheviks have been trying to create an explosion in Poland. The first plan was the one for a Pope’s Revolution, as it would have been known. I described that plan in detail in AUDIO LETTER No. 42; but just as in the present hostage release ploy, timing was critical to the Pope’s Revolution plan; and the Russians were able to spoil the plan by changing the timing of the Pope’s visit to Poland. But now the Bolsheviks have a new weapon of destruction in Poland. It is the so-called “Independent Trade Union” movement. It has been given the old Bolshevik name “Solidarity”, but its real purpose is not solidarity but division, turmoil, and revolution. Two months ago the new rulers in the Kremlin defused the confrontations then brewing by approving major concessions to the strikers. Now many of the Polish workers want to take a breather to consolidate their gains, but the Bolsheviks did not create the new Labor movement for that purpose.

Instead there are new and bigger demands, spreading agitation, and threats of a new major strike. So now Poland’s borders with Russia, East Germany, and Czechoslovakia are slowly being sealed off. Large concentrations of Russian troops are now poised along the border in Russia and East Germany. The Polish workers, having been used as pawns, may soon lose everything; but those who have used them, the Bolsheviks, may well get everything they want—revolution, strife, and bloodshed. If that happens, my friends, it may be the last straw for the leaders in the Kremlin. Last month I reported that Russia had begun making feverish preparations to be able to decimate New York City by means of geophysical warfare. I can now report that these preparations also extend in more limited form northward into New England.

There is a little known but major fault that runs along the east coast, partly offshore, partly on land, and Russian cobalt bombs for earthquake generation have now been planted in eight (8) areas along this fault in the Northeast. These locations
respectively are: south of Providence, Rhode Island; south of Norwich, Connecticut; several near Hartford, Connecticut; near
New Haven, Connecticut; south of Springfield, Massachusetts; and near Northampton and New Bedford, Massachusetts. But it is still New York City that is now subject to the greatest devastation by far. The reason, as I explained last month, is that New York is the headquarters city of the Bolsheviks here in America. Right now the Bolsheviks are trying to see to it that Russia has her hands full due to revolution in Poland; but if that happens, the Bolsheviks here will also have their hands full. They may well find themselves picking through the smoking rubble of that ruined headquarters city because, my friends, at last report there are now 85 earthquake-producing cobalt bombs buried beneath the waters around New York City.

Topic #2

- For several months now I have been offering you my step by step answers to the question, “What can I do?” I began doing this because more and more of you were asking me to do it. You had started telling me that you were no longer satisfied just to watch and listen as our crises multiply; instead the time has come for action—now or never.

In AUDIO LETTER No. 56 last July I said that what we must do is to wage PREVENTIVE war. Ours is a war of truth to head off nuclear war. Our strategy is to take away the gold weapon which our enemies within are using against us; and by revealing the truth about the theft of America’s gold supplies, the gold weapon will become our very own. This is the only way, my friends, we can seize a weapon big enough to halt our betrayal into national suicide.

The first battle front in our preventive war is our campaign directed at Senator William Proxmire, and we must continue what we have started along those lines. But up to now Senator Proxmire has been conspicuous by his failure to take meaningful action, so this month we are about to open up a second front in our preventive war. It lies totally outside Proxmire’s control yet could also increase the pressure for him to act. I will go into all that in Topic #3, but for now I want to concentrate on our direct campaign with Senator Proxmire. For more than two months now many of you have been showering Senator Proxmire with letters. As I have suggested, you have demanded that he open up a full, public investigation of America’s gold reserves. Ultimately there will have to be a complete physical inventory of our gold, if there is any left. My friends, in any campaign like this, every effort is always made to make you feel isolated; but if you think you are alone in your concern about our missing gold, think again. To give you an example of what I mean, I have an important letter to read to you. It was written to Senator Proxmire early this month on October 2. The writer is a very astute businessman in Proxmire’s home state of Wisconsin. What’s more, he’s a man who knows Proxmire socially; but wait until you hear what he thinks about the situation. He sent a copy of his letter to my dear friend Mr. Edward Durell. He gave permission to make it public if desired, and Mr. Durell provided me with a copy. I will now read it to you:

“Dear Bill,

Mr. Edward Durell, a close friend of mine, has sent me a copy of his letter to you of September 5, 1980. The crux of the letter asks that you demand an inventory of the nation’s gold reserves. I have written to you on this subject myself more than once. The reluctance of the Treasury Department to provide a sensible answer to this basic and simple question appears to indicate that the present real value of the Treasury’s gold reserve might represent the ultimate ‘Golden Fleece.’

The inventory practices which the Treasury is currently using would not be accepted by any public accounting firm nor by any corporate management I know of. It is elementary that the nation know what its gold reserve is; and the fact that no action is taken to take a physical inventory, as would be required by generally accepted accounting standards, makes the United States Gold Reserve an open question around the world. I have personally heard this question raised by financial people in both London and Zurich, and of course many times in the United States. As Chairman of the Senate Banking Committee, this is certainly one of your responsibilities. It seems strange that you do not take a determined action on this question which is so much more important than the many other incidents of waste which you have pursued with vigor.

Sincerely, “ and there follows the signature of the writer.

My friends, the letter I’ve just read to you represents the thinking of more and more highly informed business and financial people, so don’t let anyone bluff you into thinking otherwise. Now let me return to your own letter-writing campaign. By now you should have received at least one reply from Senator Proxmire. Some of you have received two replies by now. The first wave of letters to Proxmire in August produced a computerized form letter, which I quoted last month. Proxmire began sending that letter to people in late August. In the letter Proxmire passed the buck to the Treasury itself. Supposedly he asked the Treasury’s Inspector General for a report about a specific missing shipment of gold. This was the mystery shipment of January 20, 1965 from Fort Knox. It was a shipment worth more than a billion dollars - 1000 million dollars—at today’s prices; and it was admitted in writing five years ago by Mrs. Mary Brooks, then Director of the United States Mint. Yet it was listed nowhere on the official Treasury listing of shipments from Fort Knox.

Now the time has come to ask a new question, my friends, and that is:

“Whatever happened to that promised report by the Treasury Inspector General?”

After all, you’ve been writing to Senator Proxmire since mid August. I hope that you’ve been keeping a file of all your correspondence to and from Senator Proxmire, because now it’s time to write your most important letter yet to Senator Proxmire; and if you can refer back to the date of your first letter, it will increase the impact of this letter. If you have not been keeping a file as I urged you to do, then just do the best you can on this letter; but please do start now to keep a file in a folder or in a manila envelope. As time goes on, this will become more and more important. By the way, if you have not written before but want to write this time, by all means please do so. Make whatever changes you need to in the model letter I’m about to suggest, to fit your own situation, and send your letter to:

Senator William Proxmire
Senate Office Bldg., Washington, D.C.
Now here’s what I suggest as a starting point for your newest letter to Senator Proxmire:

“Dear Senator Proxmire,
For several months now I’ve been writing to you to urge that you open a full, public investigation of America’s gold supplies. I first wrote you about this urgent matter on (date so and so).

In reply you promised as a first step to obtain a report about one matter from the Treasury Inspector General. This matter was the missing gold shipment on January 20, 1965 from Fort Knox. I have also written you more recently on this over-all subject, but up to now your replies continue to say that you have requested a report, not that you have received one; so I now ask:

‘Have you received the report you said you requested from the Treasury Inspector General over two months ago? If so, then I request that I be furnished a copy promptly. But if not, then why not after so long a time? If it takes over two months for the Treasury to figure out what happened to a billion dollars worth of gold, then something is very wrong. And something is also very wrong if you are content to accept silence about so vital a matter.’

Once again, I urge you to open up a full, public investigation into the condition of America’s gold supplies without further delay. And more and more of my friends and neighbors are beginning to agree—that is the message of the additional signatures at the end of this letter.”

After signing your letter, then get everyone else you can to add their signature below yours, just signatures of anyone who agrees that your question deserves an answer. Even if only two or three friends will add their signatures below yours, it will help. Every name counts. Use your influence. Before, Proxmire was receiving letters; now he will begin to see petitions, petitions, and more petitions. And, my friends, so will other certain very important people!

After you have collected all the signatures you can, please make a generous supply of photo copies before mailing the original to Proxmire, because copies of this latest letter to Senator Proxmire will be a weapon you can begin using for other purposes, and we will use them right away as we open up the second front in our Preventive War to SAVE AMERICA.

Topic #3

- As you probably know, America’s currency is not issued by the Treasury but by the “Federal Reserve System.” If you look at a dollar bill you will see the words: “Federal Reserve Note.” In banking terms, a Note is an I.O.U.—a promise to pay something; and it’s the Federal Reserve System, not the United States Government itself, that issues these I.O.U.s which we use as currency. They’re printed by the United States Government Mint for the Federal Reserve System for a small fee. In effect, the United States Mint, a branch of the Treasury Department, serves as a mere print shop for the Federal Reserve System. Many people assume that the Federal Reserve System is a Government agency, which IT IS NOT. It is purely a privately-owned Central Banking System! What I’ve just said is essential to understand. It’s the key to our opening up the Second Front in our Preventive War to Save America. So before I go on, I want to say a few more words about the purely private nature of the so-called “Federal Reserve System.” I realize that for some of you what I will say will be review. You’ve already studied the Federal Reserve System yourself and know that it is a private corporation, but my mail indicates that many of my newer listeners are not aware of this.

It’s not surprising that so many people believe the Federal Reserve System to be a Government agency. From its very
beginning in 1913, the Federal Reserve has always presented a false governmental image. To begin with, its creation in 1913
required an act of Congress; but that was not because Congress was authorizing a new Government agency. Instead, it was because Congress was abdicating its CONSTITUTIONAL duty to create and issue the nation’s money! In effect, Congress gave a Federal Corporate Charter to the new privately-owned Central Banking System. In turn, that system was given the name “Federal Reserve System.”

There were many Americans in those days who were bitterly opposed to the creation of a private Central Bank. They believed that the creation and control of our money should be left in the hands of the Government—not a private corporation. Others believed that private control of our money would not be so bad if it were dispersed. What these critics opposed was concentrating our money control in just one bank.

To silence these critics, the architects of the new private Central Bank for America did two (2) things. The first had to do with the Board of Directors of the System as a whole, which they call a “Board of Governors” because it sounds better. They agree to allow the Chairman of the Board to be a presidential appointee; and just for good measure, they agree to let the appointment be subject to confirmation by Congress. The other maneuver by the Federal Reserve architects of 1913 was to abandon the idea of a single Central Bank. Instead they created a system of 12 banks scattered across the United States. That gave the image of a diffusion of control over America’s money; but actually that, too, was only for show purposes to silence the critics. All of the real action in the Federal Reserve System takes place within the Federal Reserve Bank of New York. The other 11 Regional banks just follow the lead of the New York Bank. They have power but rarely use it, and so in effect the Federal Reserve Bank of New York is the real Central Bank of the United States.

The governmental cloak that seems to surround the Federal Reserve System is actually very thin, but it’s enough to mislead most people, because they do not look close enough. For example, people often assume that the word “Federal” is a sign that the Federal Reserve System is a government agency; but as Abraham Lincoln once said in a famous court case: “A flower does not become a rose just because I call it a rose.” And the Federal Reserve System is not a government agency just because of its name. If you will look around you, you will see many private companies that use the word “Federal” in their names. For example, there is even an air freight company called “Federal Express”, but of course Federal Express is not a government agency. It’s a private company, with private stockholders. The real criterion as to whether an entity is public or private is that of ownership; and by that criterion the 12 Federal Reserve Banks are totally and unmistakably private corporations.

They issue stock like any other private corporation; and, my friends, the United States Government does not own one penny’s worth of Federal Reserve stock. Even the buildings which house the Federal Reserve Banks and the land which they occupy are privately owned. They pay local real estate taxes thereon. That is even true of the building here in Washington where the Federal Reserve Board of Governors meet. Employees are not governed by Civil Service rules like the Government employees. The President of the United States rubber-stamps each new Federal Reserve Board Chairman as if he were a public official; but the minute he is confirmed, the Chairman of the Federal Reserve Board passes through private doors, and behind those doors the private Federal Reserve System does exactly as it pleases, issuing or withholding money and credit at will.

Federal Reserve stock is issued only to banks, which in turn are controlled by other powerful private interests. Banks which own this stock are called “Member Banks.” Your own bank may be a member. If it is, your bank has paid money into the Federal Reserve in two forms. One form is ownership of Federal Reserve stock. This bears interest in the form of dividends of only 6%. But also, your bank is required to turn over a certain percentage of its own deposits to the Federal Reserve Bank in your district. Those deposits, called “Reserve deposits”, bear no interest to your bank. Even so, Member Banks of the Federal Reserve System do receive certain services and advantages from membership, but they are also burdened and restricted in important ways. As a result, more and more banks have been withdrawing as members of the Federal Reserve System. Smaller banks especially have been pulling out for a breath of fresh air. Like any monopoly threatened with competition, the Federal Reserve money monopoly panicked. The “Fed” generally ignores Congress except when faced with trouble.

When trouble does flare up, the “Fed” always runs to Congress for help. Most of all, they count upon a favorable hearing from the Banking Committees of the Senate and House; and the Wisconsin twins—Senator William Proxmire and Congressman Henry Reuss—never fail to oblige. And so earlier this year, Congress passed a new law to rescue the Federal Reserve—a sort of a Union shop for banks. It requires even non-member banks to place interest-free deposits with the Federal Reserve System. What is more, it creates a bureaucratic nightmare for all small banks. As usual, the little guy is being squeezed out in favor of big money. The alleged excuse for this new Act is that it’s needed to promote financial soundness of our nation’s banking system. The argument is very simple. Supposedly, the new law is to help guarantee the safety of the underlying assets of your bank. Your bank is now forced to place a fraction of its assets in the Regional Federal Reserve Bank. Your bank cannot use those funds, and so we are told it cannot lose them.

But now, my friends, consider this. The Federal Reserve Banks are themselves claiming to have assets they do not have—gold assets. So your bank stands to lose everything that it deposits in the Federal Reserve Bank. And, of course, if your bank loses everything, so do you! You have the option of either making or not making deposits to your bank, but your banker no longer has any such option. He is forced to be a depositor to the Federal Reserve Bank in your region, and the Federal Reserve Bank does not have part of the assets it claims to have; because, my friends, the monetary gold hoard of the United States is not owned by the United States Treasury. Instead, title to the gold has belonged to the Federal Reserve System since 1934. The Treasury is only the custodian while the Federal Reserve Banks are the title owners, and they are now owners of gold that is long gone.

They are claiming assets that do not exist. Every Saturday the New York Times publishes the abbreviated, unaudited financial statement of the Federal Reserve System. Almost all of the assets boil down to nothing but paper, with one major exception. That is the item titled “Gold Stock.” The current value listed is slightly over $11,000,000,000 - that is 11,000 million dollars, but that is at the meaningless official price of gold, a little over $40 per ounce. The real value at current market prices is closer to $200,000,000,000. That is the Federal Reserve “Gold Stock” so called. It is by far the biggest asset of the Federal Reserve Banks on paper. The quantity held by each bank varies, but all 12 Regional Banks own portions of that Gold Stock.

My friends, America’s monetary gold hoard is often referred to as the Treasury’s gold, but that is not correct. The Federal Reserve Banks have title to the gold through their Gold Stock. The Treasury only acts as a depository or custodian for the gold. For example: The famous United States Bullion Depository at Fort Knox is really just a giant safety deposit box. The owner of the gold is the depositor, the Federal Reserve System. For my listeners in business, financial and banking circles, I feel I should drive this point home in one more way. You can see what I am saying if you will simply compare the Balance Sheets of the Treasury and the Federal Reserve System. First look at the Federal Reserve Balance Sheet. On the Asset side you will see the Gold Stock item, formerly called “Gold Certificates.” To be concrete, for example, on October 22, 1980, the Gold Stock value was listed as $11,165,000,000. Now look at the Treasury Balance Sheet for that day. You will find the same figure, but on the Liability side. So the Federal Reserve is a creditor with regard to the gold, and the Treasury is a debtor—that is, the Federal Reserve is the depositor of the gold while the Treasury is only the custodian.

My friends, I realize that all this may be rather involved, but also it is vitally important because the facts I have been discussing provide the basis for our second avenue of action to try to SAVE AMERICA. I want to make these details available to you so that you can refer back to them from time to time; but let me recap the basic points to remember:

• First, and very important. The Federal Reserve System is a private Central Banking System. It is not an agency of the United States Government.

• Second: The owner of America’s monetary gold hoard since 1934 has been the Federal Reserve System; and the gold, carried as “Gold Stock”, is by far the largest asset claimed by the Federal Reserve Banks.

• Third: The United States Treasury does not own this alleged monetary gold. Instead, the Treasury acts only as a custodian for the Federal Reserve gold.

My friends, the soundness of America’s entire banking system is now tied directly to the Federal Reserve System, and the Federal Reserve is counting assets that it does not have—gold assets. The gold has been spirited away from Fort Knox and other Treasury Bullion depositories.

It is in your financial interest to make sure that your bank deposits are safe. It is in the interest of your banker to make sure that his deposits with the “Fed” are safe; and all other things being equal, it’s in the interest of the “Fed” to make sure that its giant gold deposits with the Treasury are safe and sound.

So I am now ready to suggest what we can start doing through the banking system itself. To begin with, please go to your bank to obtain some information. The information you need concerns the Federal Reserve Bank which serves your region. There are 12 Federal Reserve Banks located respectively in: New York, Boston, Philadelphia, Richmond, Atlanta, Cleveland, Chicago, Minneapolis, St. Louis, Kansas City, Dallas, and San Francisco. Find out which one of these is the one which banks in your Region deal with, and find out its address. In addition, find out the name of the President of that Federal Reserve Bank and the names of every one on the Board of Directors.

My friends, you will no doubt have to speak to a bank officer to obtain all this information, and that’s good. Speak to the highest officer you can in your bank, because when you ask for all those details about the Federal Reserve Bank in your Region you’re likely to raise some eyebrows. Hardly anyone ever comes in with a question like this. If he asks why you want the information, tell him you intend to write some letters and will be glad to give him a copy. Make it clear though that you are not writing the Federal Reserve to complain about your own bank. You should have no difficulty in getting the address of your Regional Federal Reserve Bank and the names of its President and Directors. In the unlikely event, my friends, that you do encounter any resistance, just keep in mind that you have a legal right to this information. As a depositor, you are a creditor of your bank, which in turn is a creditor of the Federal Reserve Bank; and both you and your bank have the right to seek assurances that your money is safe.

Once you have this information, what you should do next depends on where you are. If your banking Region is served by any Federal Reserve Bank except the NEW YORK Federal Reserve Bank, then it is time to write some more letters. But the New York Federal Reserve Bank is a special case. If that is the one which serves your Region, do not write any letters at this time.

WRITE NO LETTERS TO THE NEW YORK FEDERAL RESERVE BANK—just hold on to the information you have obtained about its address and Directors.

Now here is what to do if your Region is served by any of the other eleven (11) Federal Reserve Banks which I listed earlier. I urge you to write a letter to the President of the Federal Reserve Bank and also to each of its Directors. I realize this is a lot of work, my friends, but nothing less than our survival is at stake. We cannot cut corners. Every letter should be typed or written separately in order to have a personal impact, but it’s all right to use the same wording to the President and each of the Directors.

To get you started, here’s the outline of what I suggest you write. As in the past, feel free to modify the wording to fit your own concerns and your own way of expressing things. That will help to personalize and vary the letters they will be receiving. Other listeners, after all, will be writing to them too; but whatever you do be sure to refer to Senator Proxmire, as you will hear in a moment. Address each letter to:

President, or Director
Federal Reserve Bank (of whatever city) at the Federal Reserve Bank address.

“Dear (so and so):
I am writing to you because of my declining confidence in the banking system of the United States. I am one of a growing number of people with similar concerns. As a key official in the banking life of our nation, my hope is that you will take action to help restore confidence before it is too late. To illustrate my growing concerns, I’m enclosing a photo copy of a letter which I sent recently to Senator William Proxmire.

As Chairman of the Senate Banking Committee, Senator Proxmire should be able to reassure the public about banking matters, but my correspondence with Senator Proxmire for several months has had the opposite effect. Instead of reassuring me, Senator Proxmire’s replies to serious questions are alarming me; and as I discuss this with all my friends and neighbors, they too are becoming more and more worried. 

Since Senator Proxmire is only managing to reduce confidence in our banks by his behavior, I believe that I should turn to you for help. If elected representatives will not do their duty, perhaps responsible banking officials will. My basic concern is one which I believe you, as a Federal Reserve official, should share. I believe that the United States Treasury has been negligent or even worse in acting as custodian of the Federal Reserve gold.

 

Like many other people, I am convinced that it is time for a physical inventory of the gold stocks in Federal Depositories. There may be little or no gold left at all. If the Treasury has defaulted on its obligation to protect the Federal Reserve gold, we are in deep trouble indeed as a nation; and the Federal Reserve System is counting assets listed as gold stocks which do not exist.

As a concerned citizen and bank depositor, I appeal to you for help. I respectfully urge you to use your authority to press for a physical inventory of the Federal Reserve gold in Treasury vaults. There is no other way to stop the spreading doubts about America’s entire banking system.”

(End of letter, followed of course by your signature.)

My friends, now you know why I suggested that you make a supply of good photo copies of your next letter to Senator Proxmire. You will want to enclose a photo copy of your Proxmire letter with each letter to a Federal Reserve President and Director. By doing this, my friends, we can accomplish two things at once. For one thing, Federal Reserve System officials all across America may become a little perturbed at Senator Proxmire. They will not be pleased to hear that Proxmire is alarming you and others by his behavior. If even one Federal Reserve official should write a note of displeasure to Proxmire, it will have its impact.

But aside from Proxmire himself, we are beginning to open up a whole new avenue of action through the banks. For one thing, action could take place through the Federal Reserve System itself to inventory the gold because, as I explained earlier, 11 of the 12 banks were originally intended for show, but they do have power. The New York Federal Reserve Bank is now tightly controlled by the Bolsheviks who want to destroy America, but the other 11 Banks are another matter. Their Directors are indoctrinated basically to follow the lead of New York. For the most part they are not given the inside track about the most secret plans, and so they could decide to flex their muscles in ways contrary to the wishes of the New York Bank. Specifically, they could decide that a gold inventory is a good idea, and they could help make it happen, my friends.
At still another level, be sure to give your banker copies of your latest letter to Proxmire and to the Regional Federal Reserve President and Directors; because your banker, like you, has a tremendous stake in all of this. And even the American Bankers Association should press the Federal Reserve System to look into this question. They should demand that the 12 Regional Bank Presidents raise this question with the Board of Governors of the Federal Reserve System here in Washington.

My friends, I realize that all this is hard to digest at one hearing, so I urge you to listen to it over and over again if you need to until it all begins to sink in; because this is only the beginning of our battle on a powerful new Second Front, and the key to it all is the private corporation known as the “Federal Reserve System.”

Now it’s time to give you my last minute summary. In this AUDIO LETTER I’ve tried to alert you to some of the latest battle fronts which are involved in the secret war now raging. During this month of October 1980 there have been all kinds of rumors that our hostages in Iran may soon be released. In Topic #1, I reported to you how this came about, and why. It was set in motion partly for reasons related to our national election four days from now. But even more importantly, the release of our hostages right now is intended to be one step on the path to nuclear war. The Russians know this and want to avoid becoming the targets of a Bolshevik-triggered American first strike, and so Russian agents in Iran are trying hard to stop the preparations for a release of our hostages at this time. But even if this crisis should fizzle out, others are being set in motion to take its place. One of these is already on the horizon in Poland. If full scale revolution should erupt there, the Russians are prepared to retaliate by means of geophysical warfare.

The true capital city of the Bolsheviks—New York City—may very well suffer a massive earthquake. According to my last
minute reports, other geophysical warfare preparations are also continuing. In AUDIO LETTER No. 55 I described how Russian geophysical warfare techniques triggered the explosion of Mount St. Helens last May. The final step in the process involved a squadron of Cosmospheres firing their Charged Particle Beam weapons from overhead. And as of October 26, squadrons of four (4) Cosmospheres each were on station over several volcanicmountains of the Northwest. These are: Mount St. Helens, Mount Adams, Glacier Peak, and Mount Rainier. There is also a single Cosmosphere, purely for observation, stationed high above Mount Hood.

My friends, the warring factions of the Bolsheviks, Big Oil, and the Russians are bringing us closer and closer to open all-out war. They are attacking and counterattacking on many fronts; and if you want to stop our downward slide into catastrophe, we too must take action on many fronts. The TRUTH is a powerful weapon, and we must use it in every way we can.

Month by month I am trying to bring avenues for action to your attention; and because more and more of you are taking action, I believe there is a glimmer of hope for America. Last month, for example, many of you did succeed in getting LETTERS TO THE EDITOR published. Even the Washington Star published one of them and gave it the headline “WHERE IS OUR GOLD?”

What we are trying to do together, my friends, can be learned in only one way and that is by doing it. I know it is not easy, but so far I believe you are doing a magnificent job, and I thank you.

Until next month, God willing, this is Dr. Beter. Thank you, and may God bless each and every one of you.