I exchanged emails with Karen Hudes in the past week. Read
The reason of this interview was because of her comments in Russia Today about impressive amounts of gold hidden in banks. She is exposing high level corruption in the World Bank. This interview is full of legal technicalities and complex issues. This interview is trying to focus on her gold claims.
While I can´t validate all her claims since I don´t have the information to do it, I believe her story must be told. One way or the other, her courage is truely amazing and it is an honor to be the first Latin American author and media who interviewed her.
KAREN HUDES INTERVIEW FOR SILVERTARDSWERIDE.COM and Blog Reymidas (oroyplata.info)
1) Karen, thanks for accepting this
interview. First I would like you tell us about you background and credentials
at the World Bank.
I
studied law at Yale Law School and economics at the University of Amsterdam. I
worked in the US Export Import Bank of the US from 1980-1985 and in the Legal
Department of the World Bank from 1986-2007. I established the Non Governmental
Organization Committee of the International Law Section of the American Bar
Association and the Committee on Multilateralism and the Accountability of
International Organizations of the American Branch of the International Law
Association
2) Why you left the World Bank?
Two
days after informing the Board’s Audit Committee of the cover-up in the
Philippines, I was reprimanded and placed on probation. The Dutch Ministry of
Foreign Affairs requested the World Bank’s Audit Committee to look into the
cover- up. Instead, the Chair of the World Bank’s Audit Committee requested an
inquiry into the World Bank’s Institutional Integrity Department. The Senate
Committee on Foreign Relations followed up with three letters to the World
Bank. The World Bank forged documents and fired me in contempt of Congress. The
World Bank also fired the Staff Association’s lawyer. The Staff Association
stated that what had happened to me had damaged staff morale and prevented
others from reporting misconduct. The World Bank’s Ethics’ Officer left in
frustration after her request for an investigation by the World Bank’s
Institutional Integrity Department was turned down.
3) Are there more World Bank
“whistleblowers” yes who are they?
I am
not at liberty to disclose any of the whistleblowers who have not gone
public. One who has gone public is Elaine Colville, from Scotland, and
another is Yonas Biru from Ethiopia Are they talking about this? Elaine has
published her statement on the UK Parliament’s website
House
of Commons Public Administration Committee, Written Evidence for the inquiry
into Complaints Do They Make A Difference, published July 20, 2013, pages 186-7
(Elaine Colville, another World Bank Whistleblower's testimony is on Page 178)
available here
4) You mentioned in one interview that
you took notice about the real structure of global power. A network of powerful
entities and multinationals that control a a significant part of global
economy. Who are they? And how did you arrive to this conclusion?
A very
good study was done by three systems theorists at the Swiss Federal
Institute of Technology in Zurich, ranked as the best university in continental
Europe. What they did was examine the interlocking ownership of the
world’s 43,000 transnational corporations using mathematical modeling tools.
This study showed that a small group respectively “super-entity” of 147
financial institutions and multinational corporations is pretty much in control
of the world economy. It's whoever is behind that group which is in
control of 1 percent of the investments but that 1 percent through corporate
interlocking directorships is now in control of 40 percent of the assets and 60
percent of the revenues of this set of 43,060 transnational companies.
See Stefania Vitali, James B. Glattfelder, and Stefano Battiston: “The network
of global corporate control“, ETH Zurich, published September 2011 available
here:http://arxiv.org/PS_cache/arxiv/pdf/1107/1107.5728v2.pdf
5) What can you tell about Latin
countries and emerging economies? How are these countries being damaged by this
high level of corruption? How do you evaluate the World Bank role related with
emerging economies. Any comments regarding Argentina?
There
have been a number of deaths from cancer or heart attacks: Venezuelan President
Hugo Chavez, after theattempted assassination and coup d’etat in 2002. Argentina’s
president Cristina Fernandez de Kirchner, who had cancer symptoms. Her
husband Nestor had died of a serious heart attack at age 60 in 2010. Also
Brazilian president Dilma Rousseff, who caught cancer, Paraguay’s Fernando
Lugo, Lula of Brazil and retired Cuban leader Fidel Castro, came down with
cancer in 2006.
The World Bank will be able to
fulfil its role when the Board of Executive Directors has taken back its powers
under the World Bank Articles. On June 4, 1947, the Executive Directors
accepted in a Memorandum with Regard to Organization and Loan Procedure that
"[t]he Executive Directors are responsible for the decision of all matters
of policy in connection with the operations of the Bank, including the approval
of loans," and "[t]he Management is responsible for developing
recommendations in all matters of policy requiring decision by the Executive
Directors." "Whenever, in connection with the operations of the Bank,
decision of a question of policy becomes necessary, the President will submit
such question to the Executive Directors with the recommendation of the
management as to the action to be taken..."
On September 1, 2009 I advised the Board of Executive
Directors: "It is for the Executive Directors to determine if they are now
obligated to avail of the full range of powers in the original mandate of the
Executive Directors contained in the Articles of Agreement."
6) Karen, according to one interview made
by Russia Today, you claimed that there is much more gold than the official
World Gold Council global stocks ever mined. For the record, you said
“there is 170,500 metric tons of gold deposited in a vault in the Bank of
Hawaii, 130,500 metric tons in AMEX Hong Kong plus 150,000 metric tons in
Development Bank of Singapore, for a total of 451,000 metric tons. There is an
additional amount exceeding 100,000 metric tons in other American banks”.This
is explosive news and one of the main reasons of this interview. Can you
provide us with all the details about your discoveries about gold?
This
gold is held in trust for the people of the world. I used to work in the
Philippines and reported corruption at the end of the East Asia financial
crisis. I
reported the corrupt take-over of the second largest bank in the Philippines.
Lucio Tan, a crony of Joseph Estrada, then President of the Philippines,
acquired stock owned by government employees in Philippines National Bank
(“PNB”) valued more than 10% of PNB’s outstanding capital without disclosure,
as required by Philippines securities laws. Tan owned Philippines Airlines, in
default on its loans from PNB. The government of the Philippines loaned $493
million to PNB after PNB’s depositors made heavy withdrawals. $200 million of a
loan from the World Bank and a $200 million loan from Japan were cancelled.
Estrada was ultimately impeached, and in 2007 an anti-corruption court in the
Philippines required Estrada to refund graft he had plundered. The Bank’s Country
Director in the Philippines reassigned me when I asked him to sign a letter
warning the Philippines’ government that the Bank could not disburse its loan
without a waiver from the Board of Executive Directors since the loan
conditionality was not met. The World Bank’s Internal Audit Department refused
to correct the satisfactory evaluation of the Bank’s supervision performance or
the flawed report of the Institutional Integrity Department to the Audit
Committee of the Board of Executive Directors. When the Audit Committee
requested an audit of internal controls over financial reporting, KPMG, the
external auditors, circumscribed the scope of their audit in violation of
Generally Accepted Accounting Principles and Generally Accepted Auditing
Standards. After
my case became public, a lawyer familiar with the collateral accounts contacted
me with the details of the world’s gold.
7) Who is hiding so much gold and why?
Ferdinand
Marcos was the authorized signatory on the gold accounts
8) Where is this black-listed gold
hidden? And why there? T
The
bulk of the gold (451,000 metric tons) is held in the banks. There is an
additional amount exceeding 100,000 metric tons in other American Banks and an
additional 172,000 metric tons of gold re-buried in the Philippines in 1973.
Can
you provide with photos, documents or other legal proof of existence of this
gold? Are there more witnesses ready to talk about this “black listed” gold?
9) Where all these huge amounts of gold
came from?
The
gold came from colonialization, from the nobility, from China, and from over 60
nations for
“safekeeping”. Details are in http://www.naaij.org/2013/10/12/the-greatest-heist-in-history-the-jesuits-bankers-hid-the-worlds-treasure/
10) Have you seen legal documents
or discussions about gold manipulation so far? Do you believe this gold
is being used to manipulate its price internationally?
Yes, there is manipulation in the price of gold by the
“super entity”, but this does not involve the secret gold that is hidden in the
banks and also buried; it involves naked shorts: the offer for sale of gold
which is not accompanied by physical possession. Goldman Sachs
announced two downgrades in the price of gold, first at the end of February,
and then on April 10, 2013. Then the Federal Reserve assaulted the price
of gold through uncovered gold certificate short sales on April 12 of 500 tons.
Gold prices were rising against the dollar because of eroding confidence, as
the Fed printed more dollars than people were willing to hold. Utah, Missouri
and Idaho already have laws recognizing gold and silver bullion coins as legal
tender, and a dozen more states have introduced similar bills.
11) What irrefutable evidence can you
provide about the existence of this unlisted gold?
The
gold is mentioned by David Wynn
Miller, a 90 degree Freemason and Lord James of Blackheath, a Member of
the UK House of Lords, in these two videos:
12) Is the World Bank involved in gold
manipulation schemes?
Not
to my knowledge
13) Do you see gold as a real investment
choice? Why?
If
the transition from fractional reserve fiat currency to asset backed currency
is not smooth, gold may provide a means of payment.
14) The price of gold is around 1300 $ per
ounce. Do you believe that its price is extremely high due to the existence of
massive amounts of unlisted gold?
I
believe that demand for gold will
increase commensurately as a means of backing the worlds’ currencies.
15) Do you have any opinion about
silver?
In
addition to its uses for monetary exchange, silver has many industrial uses,
and its relative scarcity vis a vis gold is not reflected in its current price.
16) These statements are clearly coming
from a woman with extreme courage who took the risk for all of us. Have you had
problems for being a “World Bank whistleblower” as you are known in the web?
Are you seeing the reward for your courage, Karen?
I am
working alongside a group of other whistleblowers, and each of us is doing our
part. I get to be a little more upfront than the others by virtue of my
litigation as a World Bank bondholder, and also because the United States is a
super-power and ending the cover-up to American citizenry holds the key to the
transition. I am getting a lot of help these days and expect that we will
resolve this lawlessness.
17) Is it true that western media has been
censoring your story? Why? Have you been interviewed by Latin American media so
far?
Western
media is owned lock, stock and barrel by the “super entity” and has done
everything in its power to suppress the story. The internet and
alternative media are ending the cover-up. So far you are the first of
the Latin American media to publish my story.
18) This level of corruption may lead to a
total loss of confidence in paper currencies. Do you see a possible
scenario of currencies collapsing, including the US dollar?
The
world's currencies are now facing a risk of permanent gold backwardation: when
all offers to sell gold for dollars are withdrawn regardless how high the bid
price may go. On July 7, 2013, gold leasing ended when "GOFO"
(the difference between the rate offered for future leases and the rate that
applies to leases already in force) became negative. The gold basis (the
difference between the nearby futures price and the spot price of gold) also
became negative. This indicates a shortage of deliverable gold and gold
hoarding.
Just
like in 1971, negative GOFO indicates the risk of permanent
backwardation. Without restored confidence in international currencies, a
chain-reaction leading to a barter economy commences, bringing serial
bankruptcies, unprecedented unemployment, and shortages of food, fuel, and medicine.
This would result in famine, pestilence, and a break-down of law and order.
When the value of US Treasury paper erodes, no amount of bond buying by the US
Federal Reserve will be able to stop the collapse of the fiat dollar. The
monetary reserves of the world’s currencies will be extinguished, representing
the largest destruction of fiduciary values in all history. Much depends
on how the banking system will hold up while the new gold strategy is being
implemented. The
Universal Credit Rating Group, owned by Russia, China, and private investors is
also making it impossible for the cover-up of corruption to continue.
19) What currencies are the safer in your
view? Based on your knowledge about the global structures of power, what should
the people do with their money? Or what should NOT be doing?
I
believe that we will all sink or swim together in the transition of fiat paper
currency to asset-backed currencies
20) Is it possible a currency war with all
these compliance risks?
21) What will happen to the World Bank?
Have you been contacted by government -member officials requesting
information about World Bank corruption ?
I am
in regular contact with governments. Tomorrow morning I will have my
third interview on Russia Today TV. I have also been published in a
German website with 1.5 million readers per month:
22) Is there anything you would like to
add to this interview?
Thank
you very much for the coverage.
23) Why the “average guy” should
care about these geopolitical schemes made by these entities? How can the
people stop it?
Our
welfare and the welfare of our children depends upon whether we can all live
together in harmony or whether we are being exploited by the “super entity”.
24) What is your message for all of us who
are being enlighted by your courage?
Spread
the news to your family, friends and neighbors. Stay involved as we fix
the loopholes that allowed this corruption to exist. You will know if you
are receiving all of the information you need to keep yourselves informed by
the fate of your whistleblowers.
Thank you very much for this interview, Karen Hudes.
and she attached these photos to the email:
well , I hope we can bring more light to this mistery of "black-listed gold". Hope you enjoy this interview.
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