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From Stockhouse Interview with Bill Murphy
MESSAGE FROM JOHN MEYER
GATA Treasurer
To Bill Don Quixote Murphy and my new Cyberspace Musketeers BW and CP, I send
to you a hearty - HELLO. I report for duty ready to assume any role deemed
appropriate. Well, Murphy you did it. Its hard to believe the rush of events
since you published Scandale January 20. The events are not an accident, just
as the gold markets behavior is no accident. It took you CP to pickup the
gauntlet, recognizing the potential for action in composing your Invitation TO
A Lawsuit. BW from your perch, you have been ceaseless in your contagious
enthusiasm and your considerable abilities to organize global resources.
Bill has tapped a volcano. I think what is going on here goes well beyond a gold
scandal. For my money we are into related issues involving serial crises
representing the failure of governments. Socialism has been the dominant
political philosophy of the 20th century. The Berlin Wall may have come down but
socialism is alive and well.
What parades for Capitalism, free markets, is as counterfeit as our monies. In
the United States we have a welfare/warfare state leaning closer and closer to
fascism. Central banks and their monetary policies are a key component. Critical
to the emergence of socialism in the United States was the creation of the
Federal Reserve. A nation with the heritage of limited government would never
have financed the egalitarian notions of the welfare state. A paper money and
its hidden confiscation was an integral and necessary part in buying and
maintaining the power. The progressive demonetization of gold and the delusion
of paper money has been a necessary corollary.
So - that is my way of saying - we are looking at one hell-of-an undertaking.
But, there are few causes that are more important. At the core of the money
issue is the basis of morality and a civil world. This is the context in which
our association and future should be viewed. We are attacking the financial root
of political power. We must be prepared for a Filegate/Travelgate reaction.
Another cyberspace friend often reminds me, desperate people do desperate
things.
We have to be sure of ourselves. We have to organize quickly - events will only
continue to accelerate. It is going to be hard to stay out in front and in
control. Im happy to see our first potential lawyer emerge. Hopefully, there
will be others.
SOME BACKGROUND INFORMATION ABOUT JOHN MEYER
John D. Meyer was born in New York City in 1935 and grew up on Long Island, in a
bedroom community eighteen miles from Times Square. After a public school
education, he attended Amherst College graduating in 1957 with a major in
bio-chemistry. His Wall Street career began in the fall of 1957 at Merrill Lynch
where he entered a two year training program. In 1969 he resigned having become
a Senior Account Executive and stockholder.
His career continued at Oppenheimer & Co. until 1973, when he accepted a
position as Assistant to the President of T. J. Holt & Co., a money management
firm. Tom Holt had defined an unconventional investment philosophy that took
into account an irredeemable currency.
"Unfortunately, an irreconcilable difference in views, led me to resign," says
John. "In 1975, I joined the mortgage brokerage firm of Huntoon, Paige & Co., a
primary dealer in mortgage-backed securities (MBS), becoming a principal of the
firm."
In 1979, Huntoon, Paige was acquired by Merrill Lynch, becoming the nucleus of
their Mortgage Capital Market Division. During those years the derivative
businesses were just getting started. John Meyer worked extensively with
futures, options and government securities. "The Ginnie Mae market had developed
a cash forward market, which Im sure was the inspiration of the current forward
gold trading markets in London and New York," says John.
"Since bio-chemistry was hardly a background in economics, money and finance, I
threw myself into my own courses of self-education," he goes on. "I like to say
my formal education began in the fall of 1957. My first book purchased was
'Economics In One Lesson' by Henry Hazlitt. Hazlitt, the first American born
Austrian economist, turned my lights on. A few years later I found Ayn Rand, The
Fountainhead and Atlas Shrugged. Throughout the 1960's Rand and Nathaniel
Branden gave evening courses in a wide range of subjects including, of course,
her philosophy Objectivism. Alan Greenspan taught a course in economics. I went
to them all."
In 1992, John started Berkshire Financial Advisors, dedicated to preserving
capital from the ravages of paper money.
"Persistent inflation causes serious problems for capital because it makes
speculators out of savers and investors who feel compelled to react to the
erosion of purchasing power," comments John. "Markets become increasingly
illiquid. Modern portfolio theory does not understand the ultimate risk of an
irredeemable currency. Austrian economics is the only discipline capable of
predicting and explaining todays issues. Economics and monetary theory have
been completely politicized. I passionately believe in the individual, reason
and the liberty necessary to unleash the human creativeness and potential. The
Austrian School of Economics embraces these principles."
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