This after the news of tungsten filled "gold" bars. Makes you wonder how much real gold is actually held by the governments.
DigginThePast,
I wonder if the entire fraud were really exposed just how much of an impact on banking it would be? Nowadays the banks regulate what the value of paper is and gold rises because of its real and solid value. (Disclaimer: I do not sell gold.) I know why the old timers were always biting the stuff. Makes sense now
.
Here is a related story about when gold was part of monetary circulation.
--- In
BloodyBillAndersonMystery@yahoogroups.com, "Jay L" <jay_longley@...> wrote:
From: "Confederate Agent: A Discovery in History" by James D. Horan, published by The Fairfax Press, 1954, pages 88 & 89. I hope all members will read this quote carefully as I believe it explains a tactic that explains how the KGC was able to use a modified version of this gold strategy to accumulate much of the wealth that the Knights of the Golden Circle deposited in "marker caches" and depositories many years after the War's end. ~Jay~ ***
"...While Hines rounded up the escaped prisoners of war to form his tiny "squadron," as he would call it in later years, Thompson set out for Niagara Falls to contact "potent men of the North" to learn how they felt about peace. Leading Copperheads like Fernando Wood, ex- mayor of New York City, and ex-governor Washington Hunt of New York, met with him at the Clifton House. New York and the East were
THE FOX AND THE COPPERHEADS 89
not ready for peace or an uprising, they told Thompson. War manu- facturers there were too powerful and were on the alert to "neutralize" any peace efforts.
Thompson next turned to Secretary Benjamin's favorite project: trying to create a financial panic in the North by buying up gold and smuggling it out of the country in order to weaken the gold security for the Union dollar. A Nashville banker named Porterfield, who was living in exile in Montreal, was selected by Thompson as the proper man to set this in motion.
Porterfield was furnished with fifty thousand dollars. He went to New York, opened an office under a fictitious name and began to purchase gold, which he exported to England and sold for sterling bills of exchange. Then he converted the sterling bills into dollars which he used to buy more gold. The transaction was a costly one, showing a loss due to the cost of operations, trans-shipment, etc. Porterfield continued until his losses were twenty thousand dollars. By this time he had exported five million dollars in gold, "and had induced others to ship much more [gold]." His buying up gold and sending it out of the country began "showing a marked effect/' as Thompson said in his official report to Richmond, when the Federals cracked down.
A former partner of Porterfield's was arrested by General Ben Butler for exporting gold, and thrown in Lafayette Prison in New York Harbor. Porterfield fled back to Canada* However, he still retained the twenty-five thousand dollars remaining to continue the exporting of gold through "fronts" in New York.
By the first week in June, 1864, Hines was in touch with his Copper- head friends in Ohio, Indiana and Illinois and in communication with Vallandigham, who was now living in Windsor. A meeting was set for the 14th to plan the Copperhead uprising and the release of the Rebel prisoners in Camps Douglas, Morton, Chase and Rock Island.
Hines and Thompson met with Vallandigham on the afternoon of the 14th in a dim front parlor of a boardinghouse in St. Catharine's, Canada. Vallandigham, now a man without a country, detailed for Hines the strength of the Copperheads. Membership totaled about 300,000. Illinois had furnished 80,000, Indiana, 50,000, Ohio, 40,000 and Kentucky and New York State, the rest A "feeling of fatigue" was sweeping through the North, Vallandigham told them, following Lincoln's draft call for 500,000 more men..."
Gary
