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Jan. 5, 1995 - Bill Cooper
58:58
Gene Miller #1
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Time Text
- What's going on?
Please be quiet and quiet.
Yet I am the only one who will ever see you.
The End
You are listening to The Hour of the Time.
I'm Pete Lesprince, and tonight we'll be talking with Gene Miller from Swiss America Trading, and he will be telling us about his job and what he does after this little break.
Thank you.
Thank you.
Just a feeling to the touch.
Thank you.
Thank you.
There's more to you than you'll ever see.
There's more to you than you'll ever know.
There is no big deal for me.
And these different lessons The power of freedom And the joy in the fact is, you never take more than me.
It's a matter of life.
I will love you.
Every year I'm raised to the battle of hope.
I'm found a place for the first and last.
Now we're back and we'll be talking with Gene Miller from Swiss America Trading.
Good evening Pete.
Good evening.
How are you doing up there in St.
John's tonight?
It's getting a little cold.
Did you get any snow over the week?
Yeah.
I figured as much as it's been raining down here for the last couple of days.
Yeah, we got a little rain then it started snowing.
Yeah.
And it's still snowing right now.
I imagine you'll get some for a while here.
Yeah.
Well tonight, folks, first of all I want to thank Bill Cooper for allowing me this opportunity to be on the air.
I'll be with you for the next two evenings tonight and tomorrow night while Bill's down in, I believe he's down in Kansas City, dealing with the Constitutional Party.
And if you're down there, Bill, listening, I hope you're having a good trip.
And again, I feel honored and privileged to be on the radio here in his place.
Some awful big shoes to fill here, but I'll do my best here.
Before I get too far along in the program, we're going to be talking about what I do, and I deal with money.
We're going to be talking about money and where it came from, how it got originated, what is real money.
Some of the things I'm going to be talking about come from a book called Economic Solutions, and you've heard Bill talk about it.
This is a book written by Peter Kershaw, who is a legal researcher, not a lawyer, but a legal researcher, and he goes into great detail about the Federal Reserve, the IRS, the different conspiracy theories going around, and just basically, well the title of his economic solution is the incredible story of how you and America are being bankrupt
And what you can do to avoid the wipeout, and it talks about is America on the verge of economic catastrophe.
I'll be taking several quotes out of this book, but before I get too far along, I want to let you all know that if you're wanting to have a copy of this book, we will make it available to you free of charge.
And write our number down right away here at the beginning of the program.
And my number is 1-800-289-2646 or 1-800-BUY-COIN, which which is an easier way to remember it.
And you can either call tonight or you can call tomorrow and talk to one of the representatives there.
But if you call tonight, just let them know that you're from the William Cooper show and leave your name and number and your address, and somebody will get back in contact with you and get one of those out to you right away.
But it's a great book.
It's normally like $8.95, I think is the price they have on it, or one ounce of silver.
But I'm going to give it to you free for the next couple of evenings if you're willing to give us a call and chat with us a little bit and let us give you some ideas of how you can help.
I want to talk about what is money?
It's something that we see in every day of our lives.
In fact, it's unavoidable.
It is what fuels our economy.
It's what keeps our banks going.
It keeps our businesses going.
It keeps everything going.
Money of some form or another.
Now, if we go back, and we're talking several decades, even centuries now, and look at what money was derived from, in Article 1, Section 8 of the U.S.
Constitution, it says that Congress shall have power to coin money, regulate the value thereof, and of foreign coin and the fixed standard of fixed standard weights and measures.
Since no state shall coin money, emit bills of credit, make anything but gold and silver coin for tender and payment of debts.
Prior to the Federal Reserve Act of 1913, the United States government coined and issued money debt-free.
The only lawful and constitutional forms of money were, and still are, gold and silver coins.
Acting upon the powers granted by them by the Constitution, the Congress ratified the Coin Executive Act on April 2, 1792, which specified lawful money to be only gold and silver coin, and the denominations to be based on a standard unit of weight, a dollar.
Which would be 371.25 grains of fine silver based upon the Spanish mill dollar of silver, then widely used in circulation with the sovereign states.
The Coiny Jack dramatically simplified the process of issuing a standard coin into circulation.
At no cost, the individual could take his gold or his silver dust, shavings, or bullion to the mint and have it melted down and pressed into a coin.
Now we're guaranteed to be a standard weight and purity.
The Corning Jack specifies the weight and the substance of the dollar to be again silver would be 412.5 grains 90% pure and 10% alloy added for strength and durability.
Gold would be 27.5 grains of 90% pure gold and 10% alloy added for strength and durability.
Gold would be 27.5 grains of 90% pure gold and 10% alloy added for strength and durability.
The term for lawful money, the term is in the U.S.
Constitution, Title 12, Section 152, says the term lawful money and lawful monies of the United States should be construed to mean gold and silver coin of the United States.
Coins and paper currency used as circulating means of exchange does not embrace notes, bonds, or evidence of debt.
And that's a term from the last quote that came from Black's Law Dictionary.
In 1913, the Federal Reserve came along and came into being, and let me read you a quote here out of Peter Kershaw's book here on page 2.
This was a few years after the Federal Reserve was put into being, which again was never ratified.
It was just kind of just one day.
Here it is, folks.
This is from Congressman Lewis T. McFadden, Chairman of the House Banking and Currency Committee, addressed the House on June 10, 1932.
He says, We have in this country one of the most corrupt institutions in the world the world has ever known.
I refer to this as the Federal Reserve Board and the Federal Reserve Banks.
Some people think the Federal Reserve Banks are U.S.
government institutions.
They are not government institutions.
They are private credit monopolies, domestic swindlers, rich and predatory money lenders which prey upon the people of the United States for the benefit of themselves and their foreign customers.
The Federal Reserve Banks are the agents of the foreign central banks.
The truth is the Federal Reserve Board has usurped the government of the United States by the arrogant credit monopoly which operates the Federal Reserve Board.
And this is what we're currently under right now.
Now, some facts that we need to take note of here.
Fact number one.
Since the Federal Reserve came into being, we have pulled ourselves off a gold standard.
Keep in mind, when we were on a gold standard, Every piece, because we had paper money back then.
Even prior to the Federal Reserve, we've had paper money in circulation for years and years because a $20 gold piece, in some sense, became impractical to carry around it.
It literally would wear out the pockets of people's pants.
And so they came up with a more practical means of issuing a paper currency, which was easier to carry around.
And it was a $20 gold piece.
They would denominate a $20 bill.
And we had $5 gold pieces.
We had $2.50 gold pieces.
We had $10 gold pieces.
The point is, every bit of money that we had in paper circulation was backed by an equal amount of gold that we had in reserve.
So we only had so much money in circulation, and every dime, literally, that we had in circulation had a backed, every paper, I should say, paper piece of paper money that we had out there in circulation was backed by an equal amount in gold.
Well, in 1932, After the Federal Reserve Board came into being and we started beginning to borrow money from the Federal Reserve Board, in order for the Federal Reserve to extend itself in credit to the United States, or the United States to borrow more than we had in gold reserve, we had to do something.
So we ended up eventually taking ourselves off the gold standard, off the gold reserve.
We went to what is known as fiat money.
Fiat money is basically a piece of paper, an IOU, that has no substance behind it.
It is a symbol.
You see if you reach into your wallet, you may have a $20 bill or a $5 bill or a $10 bill or a $100 bill.
And that is all it is.
It's just a piece of paper with a printing on it, but it has absolutely nothing backing it.
It is an IOU promise to pay.
And so that's fact number one.
Fact number two, since we have initiated the Federal Reserve Board and we have pulled ourselves off, subsequently off the gold standard, we have lost over 96% of our purchasing power of our money.
Now, remember that fact, because that's a very important fact when I'm going to show you something a little bit later on in the program, from the Federal Reserve Board.
And this is something that you can write to themselves, and they have a brochure that explains In their terms, what is money?
So keep in mind what I just said here.
Since approximately 1940, in that range, we have lost over 96% of the purchasing power of our money.
And a good example, this was in our newspaper a few weeks back in the money section of the Arizona Republic.
And they were talking about $20 gold pieces and $20 bills and what they would buy back then.
And let's just pick a date, say 1925, okay?
We could take a $20 bill, or we could take a $20 gold piece, which remember, at that point in time, they were one and the same.
You could go into the bank and take your $20 gold piece and exchange it for a $20 bill, or vice versa.
Well, you could take... Excuse me, folks, I have a nasty little cold here, so if I cough once in a while, hopefully you'll forgive me here, but they could take that $20 bill or that $20 gold piece and go into the finest clothing store in town and they could pop it down and they could buy the finest suit on the rack and probably still have change left over.
Now, today... Excuse me, I need to take a drink here.
Today, You can take that same $20 gold piece, the value that it represents, go into a fine clothing store, probably take the nice suit off the rack, and store pay for it with the value of that $20 gold piece.
The question was asked in the paper, which is a good question, what can you do today with that paper $20 bill in a nice clothing store?
You might buy a tie, or some socks, or a belt, But you can forget the suit.
There's no way you're ever going to buy a suit for $20.
You can't buy a suit for $20 in Kmart.
And so, it shows how, over the last few decades, the paper money has lost nearly all of its, or most of its, purchasing power.
In fact, it takes over 10 times as much money with paper money to buy today what it did 40, 50, 60 years ago when the money was backed by gold.
It lost most of its purchasing power.
Another example that was in another, I think it was in the Wall Street Journal, talking about the prices of houses versus the prices of cars.
If any of you bought houses back in the 40s or 50s or even 60s, what you paid for a house back then is not what you're going to pay for a car today.
I had a client that I was talking to today and he just bought himself a car and I think he was talking about a Pontiac Bonneville or something like that.
And he was telling me back in the 50's he paid like for a brand new car $2,600.
Today he paid $26,000 for a brand new car.
Well that's going to go back into the 50's and 60's.
That day he paid $26,000 for a brand new car.
Well, that's going to go back into the 50s and 60s.
You could buy a house for $26,000.
Now, a house is a house and a car is a car, folks.
And the point is, the purchasing power of your money has dramatically diminished.
And if you like that, well, just keep it on paper, I guess.
That's fact number two, and that's an important thing to remember, because I'll show you something that's really interesting when we look at the Federal Reserve brochure.
Fact number two, in the last 15 years, we have gone from And this is all again since we have pulled ourselves off of the Federal Reserve, or gone on to the Federal Reserve System, where our country started borrowing money from the Federal Reserve.
In the last 15 years, we have went from the largest creditor nation on Earth to the largest debtor nation on Earth.
There's no other country on the planet that comes close to matching the amount of debt that our country is in.
We are currently approaching, on a national debt scale, we are approaching $5 trillion.
We've passed over the $4 trillion mark, and we're on our way toward $5 trillion in national debt.
Now, that doesn't take into account the consumer debt, the debt that people have with their credit cards or their bank loans or their house loans, and it doesn't take into account the corporate debt.
If you add up all the corporate debt and all the consumer debt and the national debt, it is, I think, estimated to be over $20 trillion.
And one of the sad things is, folks, if we go back and look at biblical standards, that's kind of where we've got ourselves in trouble with.
We really pulled ourselves off a Biblical standard, because the Biblical standard was to owe no man nothing.
And when we did that, man, our country was as rock solid as it could be.
but we've totally did an about face and did a complete reversal, and now we are, you know, like one person was telling me today, that this generation has been taught we don't have it and we want it.
Go buy all the money and get it.
And forget worrying about trying to get the money to, or make the money and save the money to buy it.
Just buy it on credit.
Well, that's what's literally destroyed our economy, and will eventually come crashing in on top of us.
But anyhow, fact number three is that in the last 15 years, we've went from the largest creditor nation to the largest debtor nation, and we're approaching on a national debt scale $5 trillion in debt.
Fact number four, since 1915, Since 1970, the U.S.
currency has lost value against foreign currencies and has reached World War II lows and has never recovered since then.
If we go back in time a few decades, 20-25 years, and look at where the dollar was in comparison to the Japanese yen, the Swiss franc, the deutschmark, and And on and on, the dollar was the king.
I mean, everybody wanted the dollar.
I mean, it was the standard of which every other currency was rated.
And they would literally look at it in comparison to the dollar and see how it compared.
And the dollar was literally the king of the hill.
Well, that no longer exists.
I was reading a report where the dollar has lost, this last year, 1994, I think the Swiss franc has lost 19.6% against the Japanese yen, it was like 15.4% against all currencies.
All currencies that it lost, I think the least amount that it lost was like 12% in value, and it is steadily declining, and which makes foreign competitors look at our economy and our dollar as, well they just become very disinterested in something that's, you know, Losing value.
Why put your money into something that they're going to lose in, you know?
So they look at that and they think, man, I'm going to stay away from this.
And again, they retreat.
The more they retreat, the farther the dollar falls in value.
So anyhow, fact four is that since 1970, the currency, the U.S.
currency, has lost value against foreign currencies and has never recovered since then.
Number five.
If the Fed needs more money, They just print it.
Do you realize that?
They just go to the Bureau of Graving and Printing, and they print more money.
Now, in this book of Peter Kershaw's, it kind of outlines how we get money.
How the Federal Reserve creates money out of nothing.
And that's literally what they do, is they create it out of thin air.
And it goes through this little four-step process here, and I'll see if I can explain this to you.
So the Fed writes a check.
Okay, let's say that The government needs money.
And so they call up the Fed and say, we need a million dollars.
So the Fed writes a check for a million dollars.
This money is created out of thin air with nothing more than a book entry.
Unlike a personal check, there is no money on deposit to cover the check.
The Fed gives a securities dealer the check, and the dealer gives the Fed a government security bond.
The bond is backed by the government's assets, and the Congress, good faith, Now, do you know what the government's assets are?
The government's assets are your home, your property, your money, your wages, your taxes.
It's you.
You're an asset to the government.
And the government backs these bonds by you.
And so, when the government borrows money, guess who they're borrowing it on behalf?
They're borrowing it on behalf of you.
And they didn't even ask you.
Isn't that nice?
The Bureau then deposits the check in his bank.
The bank sends the check to the Fed for payment, who credits the bank account for $1,000,000.
The Federal Reserve note is merely an IOU, and here's how it works.
When a politician, it says, wants more money, they dispatch a request to the Federal Reserve for whatever somebody's desire.
The Bureau of Printing and Engraving then prints out bonds indenturing taxpayers to redeem the debts.
The bonds are sold to the Federal Reserve, but note this unusual twist.
The bonds are paid for with a check backed by nothing.
It is as if you or I were to look into your account and see a balance of $412 and then, hearing that the government bonds were for sale, write a draft for $1 billion.
Of course, if you did that, you would go to jail.
The bankers do not.
They, in fact, print the money that enables their check to clear.
Now, that's important, and again, I'm going to bring out something about the value of money.
Whenever they need more money, they just print it.
Okay?
And then they literally back it with a bomb, it's backed by, it becomes part of the national debt, and we're literally going into debt at a rate of a little over a billion dollars a day.
Uh, I think I was looking at a, watching a video the other night, if I remember right, the government takes in 1.4 trillion dollars a year, but they spend a little over 1.4 trillion dollars.
So that's a misbalance of over $300 billion that they come up short every year.
Well, they have to do something so they borrow the money.
And as they borrow money against this debt, the debt just gets bigger and bigger and bigger and bigger, and pretty soon it's going to eventually swallow us up.
Now just a moment here.
Let's look at what the Fed itself calls money.
Now this is a brochure that I got from the Federal Reserve Bank of Richmond, Richmond, Virginia.
If you like, write down their address.
It's P.O.
Box 27622, Richmond, Virginia, 23261.
And it's the Federal Reserve Bank of Richmond.
And this is not old.
I just got this a couple, three weeks ago.
And you can call them, and I don't have their phone number handy, but you can give them some directory assistance, and they'll send you a copy of it.
But it is, what it is, it's entitled, Money.
What is money?
How is money created?
How does currency get into circulation?
What determines the value of money?
And this is, in their words, now you'd think that I wrote this thing the way this thing sounds, but this is what they write about what money is.
Now, in the first part, it says, what is money?
Money is a medium of exchange that is generally acceptable by all persons within the immediate community.
In the United States, money can be used in these transactions mainly of four different kinds.
Currency, which is paper money that we have in coins, in the hands of the non-bank public.
Demand deposits, or non-interest bearing checking accounts in commercial banks.
interest-bearing checkable deposits and traveler's checks issued by non-bank institutions.
Now these particular deposits and assets are sometimes referred to as near money.
In their own words they don't even call it real money and legally they can't because real money according to the The Constitution, which we are supposed to be living by, says that real money will be comprised of silver and gold coins that are minted by the government of the United States.
Well, so, the things that they come up with, calling it money, they have to call it near money because, in reality, it's not real money.
Here's an interesting little fact that they write on here.
What determines the value of money?
Quote, in their own words, most modern money has little intrinsic or commodity value.
Aside from your value as money, bills of currency are just pieces of paper and balances in a checking account at depository institutions that are entries in the memories of their computers.
Money's real value is measured by its purchasing power.
Now, if you remember the little example I gave you about the $20 gold piece, and how we have lost 96% of our purchasing power.
They are literally boldly proclaiming to you that the money that you have in your pocket, in your wad, in your bank, in your IRA, in your CD, in your stock portfolio, in your mutual fund, is worthless!
Because its purchasing power has lost, it's lost 96% of its purchasing power.
Now, the reason people don't get all up in alarm, it's like watching a tree grow.
All of us, you know, know that if we water a tree and it gets sunshine and rain and all that, that it's going to grow.
But the fact is we don't see it grow from day to day.
But we know that if we come back several years later, boom, wow, that tree has grown up.
Well, the devaluation of our money has happened just like that.
It's been a slow, eroding process that we haven't seen just dramatically overnight.
I think they're coming a day when we will see it kind of more on a dramatic scale as we head into more of a hyperinflation situation.
But that's, I think, a little bit farther down the road.
But in their very own words, money's real value, and this is a quote, money's real value is measured by its purchasing power.
Well, the current money that we have, the Federal Reserve notes, Has lost over 96% of its purchasing power.
It kind of tells you right there in a nutshell how the value of your money.
It isn't worth a whole lot.
And really the thing that has held our banking system together has literally been, we've been brainwashed, number one, thinking that this is the only thing that we're... It's amazing how many people I have talked to that think that the Federal Reserve was a government institution.
That it was run by the government.
And the government was the one that was in control of the whole thing.
Do you realize that the Federal Reserve has never, ever, ever been audited?
And that the controlling interest in the Federal Reserve Board is outside of this country?
I can tell you right here from the book, on page 6, it says the Rothschilds of London and Berlin, the Lazard Brothers of Paris, Israel of Italy, Kuhn-Labe Company of Germany, the Warburgs of Hamburg, Amsterdam, and the Netherlands, Lehman Brothers of New York, Goldman and Sachs of New York, and Rockefellers of New York.
Those are the ones that have the controlling interests of the Federal Reserve Board.
And let me tell you, folks, they have become multi-billionaires at your expense because of the indebtedness that have put you and I into with this country.
Anyhow, why don't we take a break here for a moment, and I'll have Pete play a song, and we'll come back, and we'll talk a little bit more about this in the Federal Reserve, and then we'll get into a little later on here what we can do to do something to help protect ourselves.
When I've reached out to you, you've always been there.
Amen.
Now I'm so far away and baby I'm scared.
I never knew loneliness could save me.
You are my life and the strength I need.
To be sane in this life that I lead.
Now I'm not with you and my broken heart aches.
I never knew loneliness is real.
I never knew lonely could be told to me I never knew lonely to tear you into me I never loved someone like I love you I never knew lonely to you
I never knew lonely to you All right.
Well, let's take it up where we left off, because there's one other thing I wanted to bring out.
Oh, and before I get too far along here, let me again mention this book, Economic Solutions.
It's by Peter Kershaw.
Call us at 1-800-289-2646, and we'd be happy to get you a free copy.
We've been getting a lot of phone calls here lately, so if you get a busy signal, Just keep trying and if you call tonight make sure you mention that you're from the William Cooper Show and leave your name and phone number so somebody can get back in contact with you.
That's 1-800-289-2646.
1-800-BUY-COIN.
One other thing I wanted to bring out about this brochure from the Federal Reserve called Money.
is that they say that money, like anything else, derives its value from its scarcity.
In other words, you take a commodity and the scarcer it is, in other words, the fewer of it that is out there, the more value it becomes.
Well, if our Federal Reserve and our government, to the Federal Reserve, prints every time they need money, they just go to the printing bureau and print.
Uh, stacks of hundred dollar bills, I guess with question asked ask, how scarce can they be?
If they're that easy, if it's just a piece of paper and a bunch of ink on it and they can just push the button on the computer and print it out, there's no scarcity whatsoever to it.
And so, under the present system that we're on, your money is literally a doomed thing.
It can't survive.
It will never regain value unless somewhere, somehow, Under some miraculous pretense, we go back under a gold standard and we eliminate all the paper money that we don't have gold to back it with.
But I don't see that happening.
So, anyway, it's a neat little article on this brochure from the Federal Reserve Bank.
It says right there on the front, Incorporated, May 18, 1914.
Well, guess what, folks?
Government institutions aren't corporations.
Okay?
And they can't be incorporated.
So they're right there.
It's proof, black and white, that it is not a government institution, but it is a private organization.
The question that comes up is, how safe is my money?
I may have my money in a money market fund.
I may have it in CDs.
I may have it in the stock market.
I may have it just in a regular old passbook savings account.
How safe, literally, is my money?
Well, they say we're backed by the Federal Deposit Insurance Corporation, FDIC, which literally, even according to, I think it was on Nightline some months back, but they are literally in a bankrupt situation.
In other words, if everybody went to the bank, To draw out their money out of the bank, guess what?
It couldn't happen.
It would never happen.
They would close the doors before that would happen.
Because number one, they work under a fractional banking system, which means for every dollar that is deposited in the bank, they loan out nine.
Now, go figure.
I mean, that's a pretty neat trick, but that's what they literally do.
Uh, a thousand dollars into the bank, they will literally, in fact, in this brochure, they show you.
They outline it right there.
It says, How Is Money Created?
Well, they show right there that through their fractional banking system, they show an initial deposit of $1,000 and the amount of money totally loaned out from that initial $1,000 is $9,000.
Well, how safe is my money?
I got an article here from the Safe Money Report.
The editor's name is Martin Weiss, and it says, Dear friends, for the first time ever, investors have lost money in a supposedly 100% safe money market fund.
And they lost big.
Millions of dollars.
It is the most important landmark collapse in mutual fund history.
The fund Community Bankers U.S.
Government Money Market.
It took terrible losses in its portfolio of government securities.
The managers couldn't beg, borrow, or steal the money needed to bail them out.
They simply went out of business, leaving investors holding the bag.
Now, at least nine other major money market funds have similar problems.
One major money market fund has already taken a $257 million hit.
The Federal Securities and Exchange Commission warns that three more money market funds are on the brink of collapse.
But they won't tell you which money market funds they are.
Because if they did, guess what?
Most people have enough intelligence that they realize that their money was in jeopardy, they take it out.
And again, they don't want to cause some panic and whatnot because really, the whole system that we're living under is held together by one common thread.
It's called confidence.
people's blind confidence in the system that they are presently under.
And if people really woke up and understood, they'd lose their confidence in the system, and they'd pull their money out of the bank, and there's no way they'd keep it in what they got it in right now.
So my name, going back to this article, is my name is Martin Weiss, editor of the Safe Money Report.
My firm exploded onto the front pages of the financial press when we warned subscribers to move their funds away from executive life, mutual benefit, and three other major insurers.
All five of these insurers, which at the time enjoyed top safety ratings from Standard & Poor's, Moody's, and AM Best, all subsequently failed.
My message to you now is simple and similar.
Your money market fund may be no safer than those failed insurers.
Most Americans, and you may be one of them, Have a major portion of their savings in money market funds.
They think that these funds are completely safe to come to find out that they are totally unsafe.
And there's one example.
You want to know how safe your money is?
It's not all that safe.
Here's something that I got.
It came from a little newspaper called the Casino News.
It's a Las Vegas newspaper.
Kind of a private underground type newspaper.
And if I got time, I'm going to kind of read this article.
And it says, Who Stole Rose Milano's $9,450?
Says, Like all good Italians, Jake Milano loves his mother.
But he was extremely worried about her.
Rose Milano is 85 years old, mentally alert, but physically feeble and living all alone in Florida.
Jake did what all devoted sons do.
He brought her to Las Vegas to live with him so he could give her the loving attention he knew she deserved and needed.
That was back in July of 1992.
Rose quickly found Las Vegas to her liking, even though she couldn't get around much, and Jake was doing everything possible to make her comfortable.
A couple of months later, after Rose was settled in, She and Jake decided it would be wise to transfer her life savings, $20,000, from her bank in Florida to one here.
She also needed a depository for her $357 a month Social Security check.
They chose a bank branch nearest Jake's home, Nevada State Bank at 3480 West Sierra.
On October 1st, 1992, the transfer was effected.
Only Rose had access to the account.
In other words, she was the only signer to the account.
Even her son couldn't sign for the account.
On January 8, 1993, Rose Moano received her first bank statement and Jake feared his mother was going to have a heart attack.
The statement showed that $9,450 had been withdrawn on November 20, 1992.
Rose Milano had made no such withdrawal.
She is far from senile.
She knows what she does and why.
There was no reason for her to have withdrawn the money.
Jake could not have done so had he even chosen to.
The bank's statement carried a notice.
Please examine our statement carefully and report errors or differences to our external auditors by mail.
That gives a name here and an address.
Jake did so immediately, but when he received no reply from either Pete, Warren, or the bank, Marwick, I'm sorry, the bank, he decided to pay a personal visit to the auditors.
Pete Marwick advised him to call Deborah Croter, Assistant Vice President of Operations at the Westfair branch.
I found that very odd, Jake told Casino News.
If Pete Marwick couldn't be of any assistance, why are customers referred to them in the bank's statement in case of a discrepancy?
Jake wasted no time in arranging a meeting between himself and his mother and Mrs. Croton, who asked another vice president, Athena Sorton, to sit in.
At first, Crodin refused to permit Jake to sit in on the meeting because his name was not on the account, but finally relented when an angry Rose demanded he be included.
Jake was beginning to feel very queasy.
As soon as the meeting started, he remembered, I could well see why they did not wish me to be there.
With shouting obscenities and arrogant and belligerent attitude, it was plain to me that they would have torn my mother apart.
Jake said he was not allowed to an opportunity to present his mother's side of the travesty.
They weighed the pink and white withdrawal slip in front of him, claiming that my mother came to the bank and took out the money.
When Jake asked them to give him the slip so he could study it, the bank officers refused.
Yet they held it up long enough for him to observe that the withdrawal slip signature was written by a felt-tip pen, something his mother would never do, had never done before.
Suspicious to say the least, Jake demanded to know why the teller who made the transaction wasn't present at the meeting to verify the withdrawal.
According to Jake, Crowder snapped back with that, Step back, that a thousand such transactions must have gone through the teller's window since that time, and she would be unable to recall that specific action.
Besides, sniffled, uh, quoter, she was quite capable of managing her tellager and her tellers, thank you very much.
I didn't know why she was trying to convince me, or I didn't know if she was trying to convince me or herself, relates the bemused 61-year-old retired printer.
Jake posed such questions as, How was all this money given out?
Was it in cash?
Check?
Paper bag?
Money order?
He received no satisfactory answers.
Obviously the bank officers either could not answer his question or they had no intentions of doing so.
Those two women never offered my mother or me any consolation for the loss of her money or gave any indication that they were going to make a serious
In sincere effort to find out what happened to the $9,450 or to remedy this tragic loss, Jake observed, Rose was becoming increasingly dangerous for a frail woman of her age.
She adamantly denied withdrawing the money and argued forcibly that the signature on the withdrawal slip was not hers.
Her pleas fell on deaf ears.
Stoughton wouldn't budge.
The attitude seemed to be one of tough luck, folks, says Jake bitterly.
Jake points out that if his mother had withdrawn the money, she would have used her savings passbook.
As it turned out, the book the bank issued was not a passbook at all, similar to those used by other banks, but simply a record-keeping book.
Nevada State Bank, he learned, doesn't use passbooks for savings accounts, relying instead on a primitive method of withdrawal that relies on a coupon-type withdrawal slip that can be picked up anywhere in the bank.
"You can take a handful home with you," snorts Jake, "and take your sweet time practicing a forgery of someone's signature." Jake claims he went to someone in authority to examine a copy of the withdrawal slip.
The person who examined the slip pointed out to him that Rose's fraudulent signature had originally been traced in a ballpoint pen and that then someone had fired the lines with a felt pen.
When the Casino News examined this copy with a magnifying glass, the original ballpoint pen lines are clearly visible, where the felt pen failed to completely follow the ballpoint writing.
This newspaper compared several examples of Rose's handwriting with that of whoever wrote the signature on the withdrawal slips.
Rose's hand shows all the infirmities of advanced age.
Her handwriting is shaky, to say the least.
Yet the handwriting on the withdrawal slip with the felt pen is straight and even with the steady hand of a much younger person.
The forgery is so obvious that anyone coming off the street to examine the comparisons would come to the same conclusion.
Jake, at the original meeting with Crotter and Stoughton, also alleged forgery and fraud.
She was so persistent that Crotter finally agreed to have Metro investigate the matter.
We left the bank feeling somewhat comforted, because after all, it appeared that Metro would get to the bottom of this horrible mess.
Mrs. Crotter gave us her assurance.
If the Milano's had gotten their hopes up, they would soon be dashed.
Excuse me.
On February 17, 1993, Steve Qualls, a top officer at the Nevada State Bank, headquartered on 4th and Carson Street, received a forensic document examination report from William L. Lever, a reputed handwriting analyst, expert, who apparently a reputed handwriting analyst, expert, who apparently did a lot of work for Nevada State Bank.
In his results of our examination, Lever wrote, the author of the known Rose Milano writing listed in the items 2 through 5 Rose and Jake Milano were flabbergasted.
How could Lieber come up to the conclusion that there was no forgery?
own handwriting and a signature on the withdrawal slip.
Rose and Jake Milano were flabbergasted.
How could Lieber come up to the conclusion that there was no forgery?
Jake learned of the finding from Deborah Carter, who asked him to come to see her at their office.
Kroeder admitted to a shock Jake Milano that the bank always uses lever services in such a case.
At this point, according to Jake, Deborah Kroeder and the Nevada State Bank washed its hands of the affair and even had audacity to demand that Jake and his mother reimburse the bank $250 for the use of Lever's services.
One might suspect Jake told the Casino News that Mr. Lever knew which side of his bed was buttered and by whom.
Italians are not a people whom you kick around.
Jake Milano is a proud man, not the type to walk away from a good fight, especially when someone has stolen nearly $10,000 from his mother.
He decided to go to the FBI.
The FBI handwriting expert made the same comparison, but came to a vastly different conclusion.
The signature on the withdrawal slip was an obvious forgery.
Problem was, the matter didn't fall under federal jurisdiction, unless the RICO statute racketeering and conspiracy applied.
But for it to apply, Jake would have to come up with at least two more customers of Nevada State Bank who could testify that they had been victims of similar fraud.
Three or more victims could constitute as a criminal conspiracy and the feds could step in.
Jake was in a quandary.
How could he find such persons or persons even if they existed?
Fortunately for Jake, He was an avid reader of the casino news.
I was familiar with the kinds of stories Max Bauer was writing.
He told Ralph Pulido, publisher of the newspaper, on the phone, I know you and Max aren't afraid of anyone, even a powerful bank.
Do you think Max would be willing to hear my story?
Pulido assured him he would.
The casino news encourages any readers who can help Jake, especially someone who has suffered a similar misfortune, call him at Uh, 2-5-3-6-9-9-7.
Um, then there's a little update on the thing here, typed in here.
There's an update.
One day before the story hit the newsstands, Rose Milano suffered a stroke, partially in part due to the stress brought on by the thought that she had lost half of her life savings by an institution she felt could be entrusted to protect her very savings, Nevada State Bank.
She was hospitalized for 14 days, after which time she did not recover and passed away on April 1st, 1993.
It should be pointed out that Rose Milano was not a feeble, female 85-year-old.
She was an agile, elderly person that functioned without the use of a cane, walker, or wheelchair, cooked, and did the laundry.
She had never been in a hospital before this incident.
What she couldn't handle was the constant thought that Nevada State Bank allowed someone to steal her money and instead of replacing it, conspired to cover up the theft.
Her first visit to the hospital was in January of this year.
Shortly after receiving the bank, a statement showing the withdrawal of her funds.
Constant thought and stress of the lost caused her blood pressure to rise over the 200 mark.
After a four days stay in the hospital, her doctor stabilized her condition, but this resulted in the use of oxygen and numerous other medications of which she was not accustomed to.
While at home recovering, there wasn't hardly a day that passed that I couldn't, I would, I would see her looking out the window asking someone, why, why did this happen to her?
Why did someone take her money?
Why did this bank allow this thing to happen?
How could this happen in a bank?
Why has the bank refused to give her money back?
And on and on it went until she finally had a stroke.
Apparently the stress was too much for her to endure.
It is my personal opinion that Nevada State Bank killed this woman as if they had taken a gun and shot her.
Bank depositors, beware!
Anyone thinking of putting money in this bank for safekeeping should have second thoughts since they have a handwriting analyst at their beck and call They can target any accountant and tell him what to write in his report, and then they refuse to replace the money on this basis.
Who's next?
This was put out by the Casino News, Las Vegas Casino News, March 19, 1993.
So I guess the question is, how safe is your money?
I see that we're kind of running down out of time.
What we're going to do is we're going to talk about tomorrow, literally, you know, what's going to happen, you know?
What are we to do?
What do we face in the next five years, ten years?
What's going to happen with the banking system?
What's going to happen with this surmounting debt?
I want to thank you for allowing me again to be on tonight.
I think we've got, what, four or five minutes left, Pete?
Yes.
And I'm going to turn this back over to Pete here to wind this down.
He may play you a song or something.
But again, let me give you my phone number.
It's 1-800-289-2646.
1-800-289-2646.
This book, folks, is just absolutely priceless as far as I'm concerned.
It's small enough that you can take with you.
If you got people that you're trying to show them, hey what's going on?
It's easy enough to just take here and say open up to here and boom there it is on page 13 or there it is on page 8.
And show them in black and white what's happening and why it's happening.
So call us.
Call us tonight.
Call us tomorrow.
Get the book.
I'll give it to you free.
It's at $8.95 value.
There are limited supplies so it'll be on a first come first serve basis but give us a call tonight or give us a call tomorrow but do mention if you call tonight that you called from the William Cooper Show and leave us your name and your phone number and we'll be glad to get this out to you so anyhow thanks God bless we'll talk to you tomorrow night.
Thank you very much Gene.
Remember folks tomorrow night we will have Gene Miller from Swiss America Trading back on.
And we're running out of time here, so I'm going to say my good night and God bless to all.
There's a calm and breath in us through the rush of days When the heat of the rolling wind can't return its way And it can't hit me from there and it leads me through
It's enough for this restless warrior just to be with you And can you feel the love tonight?
It's where we are But we need help It's enough for this wide-eyed wanderer That she just has gone Can't be the love tonight
I'm glad to rest Tonight May the King's end by the law She's the perfect day
It's time for everyone If they only learn How to keep them to lie to go
Move the dawn and turn Thank you.
There's a rhyme and reason to what I know And the heart of the star-crossed boy just beats in time with yours Can you feel the love tonight?
It's where we are.
It's not as simple as what I'd wonder of, that we got this far.
Can you feel the love tonight?
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