The Morgan Report Blog

Open Letter To Senator Rand Paul—Speak Against FDR Type Metals Theft

Open Letter To Senator Rand Paul—Speak Against FDR Type Metals Theft
Presented August 2014 by Charles Savoie

Senator Paul, on behalf of the hard money movement, the Constitutional money community, and Americans having lawfully acquired gold and silver and corresponding mining shares—sincerest respect and greetings. We are pleased about your FAIR Act (Senate Bill 2644, introduced last month) in support of the Fifth Amendment, one of the bedrock freedoms our Founding Fathers died for on the battlefield to win for their nation’s future. The Fifth Amendment assures freedom against unreasonable searches and seizures. Concurrently with this we notice Speaker of the House John Boehner’s outrage against President Obama over his wild, freewheeling overuse of Executive Orders, and his disregarding laws he dislikes, and illegally modifying other laws duly passed by Congress. Until the Democrats lose control in the Senate because of his low ratings, Obama will remain relatively unchecked.

In the spirit of your sponsorship of the FAIR Act, which would protect honest people’s life savings from British redcoat style brigandage and piracy, we ask you to consider making a ten minute speech in the Senate chamber warning President Obama to not revv up his accumulated disgraces by being so brazen as to cite “precedent” and “national emergency” or “military crisis” or “systemic banking collapse” or “overseas dollar repudiation” for invoking Executive Orders in any way comparable to those issued by Franklin Roosevelt on April 5, 1933, seizing gold from Americans, followed by the tyrannical EO of August 9, 1934, ordering Americans to surrender bullion silver to the Treasury Department. Those were numbers 6102 and 6814. Any interested parties may view a comprehensive account of the impact of these awful thefts at The documentation covers spring 1933 through February 1937 and comes directly from the Commercial & Financial Chronicle, New York Times, Congressional Record and other such impeccable sources.

Senator Paul, we ask you to deliver such a short speech not only in the interest of pre-empting any repeat of those vastly hurtful actions, but it would also help your political party to gain traction in the form of popular votes to recapture the Senate. Mr. Obama has likened and compared himself to Franklin Roosevelt, as have many others. I emphasize that this is hopelessly questionable as an implied compliment. To my awareness, the least destructive of Roosevelt’s actions was his stance backing rent controls, which persisted long enough to bankrupt many thousands of small landlords, after which more robust interests were able to “absorb” countless properties at toss-away prices. His metals nationalization was completely antagonistic to any free market notion. Gold and silver are money, according to the Founding Fathers and the Constitution, and how can money circulate among the hands of the populace if it’s been declared forfeited, then it gets locked up in a Treasury or Federal Reserve vault—inevitably, to be selectively dispersed for price suppression of these money metals? People’s legitimate life’s savings must be protected from theft by banking buccaneers hiding behind elected or appointed officials, at economist gibberish deemed “non-inflationary” prices.

We saw your father, Congressman Ron Paul, author the Free Competition in Currencies Act, which banner is being carried forward by Congressman Paul Broun Jr. of Georgia, and also note your stance of wanting an actual, rather than a tragicomical sham, audit of the Federal Reserve System. In the proposed brief Senate speech we are asking you to deliver, please also cover the base of no windfall profits taxation on precious metals and their mining shares. This sector has been chronically unprofitable for generations due to intentional price suppression by government, megabanks and an industrial users consortium which sardonically labels itself as nonprofit. While members of this syndicate routinely post robust profits, silver mining concerns have been on subsistence income for decades. Imagine owning a pecan grove in which only the tree boring parasite insects make a living! Neither should any mineral sites be taken by eminent domain, nor should they be mandated to deliver their output to either the Treasury Department, the Federal Reserve, or in the case of silver, additionally not to the Defense Department, unless it happens to be high bidder. Private citizens must be free to bid against all other entities for these metals in an unfettered market. Senator Paul, we ask that your FAIR Act be worded to include specific mention of physical gold, silver, palladium, platinum and rhodium, particularly as it would have to do with forfeiture effected by Executive Orders. Do you not share the weariness of hearing greed inspired incantations such as “only terrorists, drug dealers and criminals use gold and silver?” You may also wish to consider mention of the Silver Users Association, the only users group in any commodity, and how it has incestuously worked with Federal agencies to connivingly filch silver from taxpayers and miners at garbage prices. The 1951 movie “Detective Story” has a line by Kirk Douglas evocative of this price chiseling syndicate—

“You must have been kissed in your cradle by a vulture!”

American leaders need to stop dreaming about creating wealth off printing presses and join the renewed world trend towards return to the historically validated money metals. Better that we join the trend rather than be dragged kicking, screaming—and bombing other countries—in this increasingly powerful, and soon to become irresistible, monetary trend to make payments in standardized wealth objects rather than mere shudder causing inky coupons or cyber credits based on flatulence gasses from the outlaw Federal Reserve. The suggested Senate speech is in keeping with the time honored principle of “nipping something in the bud.” A Senator aspiring to reside in the White House would find his campaign boosted by making strong statements reminding the nation about private property rights of every description being basic to the principles of the American Revolution. Additionally, the country needs another influential voice reminding it of what money is, and that spurious legal tender laws are never necessary when real money is being tendered in payment. Only good can come from causing Janet Yellen to squirm.

It would be useful to mention the role of the Silver Users Association and its cronies in Congress and various Presidential administrations in extincting the former United States national silver reserve for defense industries, which originally stood at 165 million ounces—all long since carted off in what was one of the most shameful ransacking sprees of theft in world history—officially sanctioned daylight burglaries carried out against the taxpayers. Should not the greedy interests largely responsible for causing the depletion be held to account for restoring it, rather than pouncing on innocent Americans who played no role in the price suppressing silver disposals? I ask all Kentucky residents especially, to contact any of Senator Paul’s offices and request he make the speech suggested here. It would be another step towards government reform and respect for Constitutional private property rights. In closing the speech it might be considered to ask of the tremor-inducing Hilarious Clinton or other Democrat 2016 presidential prospects—are they willing to endorse private property rights in the monetary metals, which was passionately backed by the Founding Fathers? Senator Paul, thank you for your consideration for your country, including opposition against needless and staggeringly expensive overseas military interventionism. Readers, especially Kentucky residents, who see a need for this type of Senate address are asked to contact the Senator’s offices to second the suggestion. Congressman Paul Broun also may be interested in a House version of such a speech and readers are also encouraged to contact his offices. President Madison, whose best military commander was the storied Andrew Jackson, remarked—

“Where an excess of power prevails property of no sort is duly respected.”

My impression of Senator Paul is that he likely concurs with “Broun’s Four Way Test,” quoting from his webpage as—
“I am committed to protecting the constitutional rights and pocketbooks of every American. I will apply the following four-way test to every piece of legislation that comes before the House for a vote” —

Is it Right/Moral?

Is it Constitutional?

Is it Necessary?

Is it Affordable?


David Morgan is a precious metals aficionado armed with degrees in finance and economics as well as engineering, he created the website and originated The Morgan Report, a monthly that covers economic news, overall financial health of the global economy, currency problems, and the key reasons for investing in precious metals.

As publisher of The Morgan Report, he has appeared on CNBC, Fox Business, and BNN in Canada. He has been interviewed by The Wall Street Journal, Futures Magazine, The Gold Report and numerous other publications. If there is only one thing to teach you about this silver bull market it is this… 90% of the move comes in the last 10% of the time! Where will you be when this happens?


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