Study of the Hegemony of Parasitism - michaeljgoodnight.com

creating a recession in an election year. Eckstein, head
of Data Resources in Lexington, Mass. (he later died
suddenly), said: "The Federal Reserve had never before
made such a move." Only the World Order knows
whether the Federal Reserve will ride Reagan back into
office in 1984 on a high tide of prosperity, or throw him
out as the new Herbert Hoover. The more likely prospect
is that he will be the Herbert Hoover of 1986 or 1988.
One critic pointed out that Volcker has boosted interest
rates, which hurts U.S. stocks, making short term U.S.
money instruments more desirable than long-term, and
bringing about the very instability of foreign capital flows
which he claims to fear. Gordon Thether writes in The
London Financial Times:
"In all history, there can be fewer instances of a man having inflicted greater
damage on the interests of his fellow human beings than Volcker has done
with 'benigh neglect' and its all too many malignant manifestations -- not the
first of which is the ill-conceived gold demonetization campaign Washington
has been engaged in since the late 60s. Interest rates rise when gold does
not back currency."
Through the London Gold Pool, the Federal Reserve
System and the U.S. Treasury disposed of American
gold at the giveway price of $35 an ounce, one tenth of
its current value, robbing the American public of billions
of dollars. On July 24, 1969, Volcker authorized SDR
paper gold, Special Drawing Rights, to replace gold in
foreign exchange. He then triumphantly remarked to his
fellow bankers in Paris, "Well, we got this thing
launched." Secretary of the Treasury Connally then took