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back print

«Dragon Family Gold» and US Federal Reserve System (I)

Valentin KATASONOV | 08.12.2012 | 00:00 Comments: 1

The attacks against world leading financial institutions have become more frequent recently, for instance the legal claim lodged by the anonymous group code-named the Dragon Family. Some Neil Francis Keenan is acting as its representative. On November 23, 2011, he filed a 111-page complaint with the U.S. District Court in the Southern District of New York, that was accepted to consideration. He is represented by William H. Mulligan Jr., with Bleakley, Platt & Schmidt of White Plains, N.Y.

Keenan claims that before WWII the U.S. the Federal Reserve System (12 Federal Reserve Banks, to be more exact) had received enormous amounts of money – delivered in gold and other precious metals – from a group of several wealthy Chinese citizens to be kept for a long time. In return they got certificates testifying the money was placed for the benefit to be redeemed by Federal Reserve System on the expiration of specified term… The deal is murky concerning such details as the term of maturity and the amount of the sum transferred. It’s also vague about what kind of deal it was, was money to be kept, stored or deposited in the bank? Or was it a Federal Reserve Banks registered capital investment? It’s worth to note the papers are called differently: notes, bonds and certificates, it’s crucially important for clear understanding the essence and mechanism of the transactions in question. It’s not clear how the gold was transferred. Was it a one-time, many-time or recurrent transaction? In short, it leaves a lot of questions unanswered. The complaint itself doesn’t provide answers, but rather gives rise to a lot of new questions. There is a special American term for such complaints – «false claims». Back then President Bush Jr. brought up the issue of cleaning the US courts from «false claims», but to no avail. The lawsuits may be related to inconceivable claims, and in case of money adjustments the sums happen to be of many zeroes. Perhaps, it’s a good business for US legal system. Sometimes false claims become golden claims for claimants. According to experts, the courts write off around $240 million annual writs of execution. I don’t exclude the Dragon Family lawsuit is a false one, though I suggest one should not jump to conclusions. The defendants include the US Federal Reserve System, the United Nations, the Office of International Treasure Control (OITC), the World Economic Forum, USA Inc., (US branch of World Economic Forum), the Italian Financial Guard and well known politicians, for instance: former Italian Prime Minister Silvio Berlusconi and UN General Secretary Ban Ki-Moon. The Italian Republic is also in the list. There is one more defendant – Some Daniel Dal Bosco (a Vatican banker, an associate member of P2 Masonic lodge), who is accused of stealing from Neil Keenan a bunch of bonds entrusted to him by the Dragon Family. The total sum of the stolen bonds is $144,5 billion. The total sum of lawsuit is $1.1 trillion in financial instruments…

«Italian trail»

The defendants list shows there is «an Italian trail» here. The Italian police confiscated bonds emitted by US Treasury at Ponte Chiasso (40 km from Milan) on the border between Italy and Switzerland. The bonds appear to belong to the Dragon Family. They were dated 1934 and signed by then Treasury Secretary Henry Morgenthau. The 134.5 billion dollar bonds redeemable in gold were taken from two Japanese on a train headed from Italy to Switzerland. They were announced to be false at first, sometime later it was said they were real, and then the Japanese and the bonds disappeared without a trace. This strange story (often called «the story of Ponte Chiasso) happened in June 2009. Back then the first talks about US bogus bearer securities with astronomical face value denominations, measured in million, or even billion US dollars, started to go around. For instance, the face value of the bonds confiscated by Italians in 2009 was equal to the face value of US Treasury bonds of the Russian Federation’s international reserves at the time (the face value of well-known US treasury bonds is measured in thousands of dollars. There is no paper based settlement anymore, so they exist only in the form of electronic record). The incident at the Italy-Switzerland border in the summer of 2009 brought into light the mysterious group named the Dragon Family; back then US government large-scale clandestine operations came into the open too.

Since then astronomic face value bonds and other securities started to surface in different parts of the globe. No one can definitely say if they are false or real. Counterfeit money has always existed. The US secret service used to get hold of «homemade» bonds, but the annual «catch» rarely exceeded $10 billion. Now its hundreds of billions. According to the United States Treasury Department there are US bearer paper securities at face value of around $100 million going around today. Who should be believed: the US state officials or securities holders and their lawyers?

To my mind the Dragon Family is kind of a tank opening the way for the attack by dozens of «guerillas» – various activists and experts launching attacks against the Federal Reserve using specific information methods. By the way, a year has passed since the lawsuit; no way can one find any information related to the proceedings or the outcome of the case handled by New York district court. The legal aspect is completely forgotten. To the contrary, more and more often the «Chinese» gold story catches the public eye. Perhaps that’s the «guerilla» tactics used against banksters.

«Black» gold and «parallel» financial world

Some authors emphasize that it’s not about the «Chinese» assets only, but rather about the gold that belongs to many Asian countries that in its time (since WWI) started to be transferred to the special storages. In fact it was dropped off from the international trade and financial turnover. Benjamin Screaton Fulford, a Canadian journalist living in Japan and one of the most aggressive «information guerrillas», spoke about the Asian origin of the gold convincingly and with competence. He is the former Asia-Pacific Bureau Chief of Forbes magazine. During 25 years of work he has created a broad human intelligence network in many Asian countries. He says it has been providing him with invaluable information related to the Dragon Family’s gold. David Guyatt, a one more «information guerilla» with vast experience in banking sector, tells many intriguing and captivating things about the Asian gold in his publications. The «guerillas» call it «black» gold. The media people use the term for oil, but in the given case it is metal, that really is gold from point of view of chemistry, it’s kept out of official golden reserves statistics, as well as the accounts of banks and other financial institutions. The very fact this off the books asset existed was the knowledge of a few. This is the gold coming from the «parallel» world of finances the majority of people don’t even have an idea of. This world is completely impenetrable to the eyes of common people and it shouldn’t be mixed up with the funds of ordinary «shadow» economy that is talked so much about nowadays (the basis for a conventional «shadow» economy is cash brought out of legal circulation). David Guyatt is known to be the person who coined the term in his The Secret Gold Treaty book.
Why the world elite needs «black gold»?

There are a few versions explaining what the clandestine reserves of «black gold» were created for.

For instance, one of them says the reason was to strengthen the US dollar by increasing the US Federal Banks gold reserves. So, the purpose was the preservation and strengthening the golden standard. This version doesn’t hold water. How can the dollar be strengthened if nobody in the world knows there is a glut of wealth in the Federal Reserve vaults? To the contrary, the US government would doctor up records to bolster its currency displaying it enjoyed solid metal prop up (by the way there is a suspicion it’s a long time since the US is involved in doctoring up schemes related to the official gold reserve).

It’s worth to note that according to the Dragon Family lawsuit, those days the Federal Reserve exchanged the gold for bonds pursuing the purpose of strengthening the dollar as the international currency, not having the yellow metal stored in «deep freeze».

The other version says the «black» gold is a strategic reserve of the world financial oligarchy; it can be used, for instance, to control gold markets and currency rates. In particular, that’s what the GATA’s (Gold Anti-Trust Action) publications hint at. The organization was established in the 1990s to investigate illegal manipulations on the world gold market; according to it, it’s a long time the so called «golden cartel» has been conducting its activities. The GATA experts have emphasized the scams are implemented by illegal use of metal from the gold reserves of the US and some other states (that is the reserves under the control of central banks and treasuries). Very cautiously some voiced the opinion the scams could take place at the expense of some clandestine funds (reserves). But anyway, as the experts point out, they pale in comparison with official reserves (comparatively insignificant in size).

There is a version the global elite needed the «black» gold reserves as an out of budget, a beyond the national states control source of income to fund political, military and special operations for the purpose of establishing the «new world order». Really so, as an instrument of funding clandestine operations, gold is no less effective as cash is.

(To be continued)

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Turkey Paves Way for Another Cuban Crisis

Turkey has downed a Russian SU-24 Fencer bomber which posed no threat to its security. This act of provocation against Russia is unprecedented in the modern history. It greatly exacerbates the global situation. It also proves the existence of a very dangerous geopolitical trend directly related to the countries of Central and Eastern Europe, which have already become NATO or EU members, or cherish the dream of joining these organizations (often at any price)...

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D.Sc. (Economics), Economist and the chairman of the S.F. Sharapov Russian Economic Society

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