You are here

'Debt and Delusion' author Peter Warburton to address May 10 CMRE meeting

Section: Daily Dispatches

2:17p ET Sunday, January 28, 2007

Dear Friend of GATA and Gold:

The agenda for the spring dinner meeting of the Committee for Monetary Research and Education, to be held Thursday evening, May 10, in New York City, has been updated to include a tremendous new speaker: Peter Warburton, the British economist and author of "Debt and Delusion," which, published in 1999, showed how the central banks were imperiling the world's economy.

In his April 2001 essay, "The Debasement of World Currency: It Is Inflation, But Not As We Know It," widely distributed on the Internet, Warburton noted not only the central bank gold price suppression scheme but also the central bank scheme against all commodities:

"What we see at present is a battle between the central banks and the collapse of the financial system fought on two fronts. On one front, the central banks preside over the creation of additional liquidity for the financial system in order to hold back the tide of debt defaults that would otherwise occur. On the other, they incite investment banks and other willing parties to bet against a rise in the prices of gold, oil, base metals, soft commodities, or anything else that might be deemed an indicator of inherent value. Their objective is to deprive the independent observer of any reliable benchmark against which to measure the eroding value, not only of the U.S. dollar, but of all fiat currencies. Equally, their actions seek to deny the investor the opportunity to hedge against the fragility of the financial system by switching into a freely traded market for non-financial assets."

You can find that essay at the Gold-Eagle archive here:

If you haven't read it already, please check it out. It's important.

"Debt and Delusion" itself is back in print and you can find information about purchasing it here:

Among the May 10 CMRE meeting's other speakers:

-- Forrest Capie, official historian of the Bank of England.

-- James Turk, editor of the Freemarket Gold & Money Report, founder of, and consultant to GATA.

-- Henry C.K. Liu, economic adviser to governments and author of many financial commentaries.

-- China expert Erin Anderson.

-- Kevin Duffy, principal of Bearing Asset Management, which operates the Bearing Fund, described as an anti-central banking fund.

-- And your secretary/treasurer, who was invited for having raised the question, in a GATA Dispatch of December 28 (, of whether derivatives can soak up inflation forever but who, in fact, hardly has a clue as to the answer. But there's no harm in posing the question again amid the other speakers at the meeting. One of them is bound to know.

A member of CMRE's board of directors, Howard Segermark, will be the meeting's moderator.

The meeting will be held at the Union League Club, 38 East 37th St., New York, just a few blocks south of Grand Central Station -- very easy to get to. Tickets are $155 each for CMRE members and their spouses, $165 for non-members. The Union League Club is beautiful and the dinner there is always wonderful. When gold reaches, say, $3,000 an ounce, maybe we'll set up headquarters there for the final assault on the depreciating-money guys holing up below Chambers Street.

For reservations, please write to CMRE President Elizabeth Currier at

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Help Keep GATA Going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at GATA is grateful for financial contributions, which are federally tax-deductible in the United States.