Joe Bahlke: Breach of trust

Wednesday, Jun 24 2015 02:41 PM

As WWII drew to a close, instead of the universally desired global peace, a new so called Cold War version emerged and reared its ugly head, which further intensified the already existing unrest and economic instability plaguing post-war Europe at the time. Moreover, fear and speculation abounded regarding the threat of further westward expansion by the Soviet Union and the specter of its occupation of the remainder of the continent, which predictably would have resulted in the confiscation of all existing wealth and treasure.

Fortunately, the United States represented a unique island of tranquility and stability amid the raging turmoil and offered to provide a depository for storage and safe keeping of Western Europe’s gold reserves, which our friends and allies were elated to avail themselves of immediately and even continuing far beyond, as overall wealth and prosperity grew and expanded over the intervening years, especially during the famous post-war boom.

Eventually, in the aftermath of the final and long hoped for collapse of the Soviet Union in 1990, some of these countries and their governments decided to ask for an inspection and actual physical inventory of their gold deposits at Ft. Knox and its Denver/West Point subsidiaries, with surprising results that exposed an incredible lack of transparency.

For instance, let’s focus on the case of Germany, one of our staunchest friends and allies, whose representatives of the Bundesbank visited in 2007 for that purpose, but were merely allowed to spend time in an anteroom amid verbal assurances by U.S. custodians that their gold deposits are in good hands. A follow up visit in 2011 produced similar results, with the exception of being allowed to handle a few individual gold bars, plus a cursory view through an open door to one of the 9 compartments ostensibly containing their deposit of over 1,500 tons, with strict instructions to look, but not enter or touch.

Uncle Sam, who happens to be over $18 trillion in arrears to himself and the rest of the world at large, obviously lives far beyond his means, and is dependent upon manipulation and the forced global acceptance of his fiat currency, which is substantially increased by the Fed, which routinely pumps an additional unfunded $90 billion a month into circulation.

Perish the thought, but what conclusion would you draw, having long ago entrusted your family’s jewelry and other valuables to a safe deposit box in the vault of a reputable local bank which is now, many years later, reputed to be insolvent and poised to file for bankruptcy protection. To make matters even worse, imagine yourself not only categorically denied access, but most importantly also the right and entitlement to retake possession and control of your assets which under these conditions more than likely have been confiscated, spent and essentially disappeared into thin air.

Joe Bahlke, Red Bluff, 06/18/15