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This is the Dr. Beter AUDIO LETTER(R), 1629 K St., NW, Washington,

D.C. 20006.



   Hello, my friends, this is Dr. Beter. Today is October 31, 1980,

and this is my AUDIO LETTER(R) 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 Adm inistration,

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 as king 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

dollarbill 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 o f 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 phy sical inventory of the gold stocks in Federal Depositories.

There may be little or no gold left at all. If the Treasury has

defaulted onits 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

volcanic mountains 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.

------------------------------------------------

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