The True Value of Gold

Every gold investor has their own “gold story” — that pivotal moment in their lives that made them realize the true value of gold. For Olivier Garret, founder and CEO of the Hard Assets Alliance, that story goes all the way back to his grandfather… and the German invasion of France.  Today, he tells that story. - Owen Sullivan


by Olivier Garret


I grew up in a little town in Northern France that, from 1939 to 1945, was occupied by the Nazis.

I hadn’t been born yet at the time, but my mother and her family were forced to live for five long years with two German officers as “guests” in their own home.  My childhood was colored by first-hand stories of life in a Nazi-occupied town.

I heard many stories of scarcity, like that of the nuns in my mother’s school serving rodents and rutabaga for dinner — or that of my grandfather setting up a soup kitchen in his small factory to help feed the families of employees.

But there was one story my mother used to tell me that made me realize the true value of gold and sparked a lifelong appreciation for it.

It revolved around my grandfather, a Swiss immigrant who moved to France in the early 1920s.  He was an electrical technician and entrepreneur. And his arrival in France coincided with the electrification of the country, just as France’s most remote towns and villages were being connected to the grid.

Up until that point, farmers had been working the fields and processing their crops entirely by hand or with the help of animals. Basic machines were powered by cranks, ropes and pulleys or treadmills.

My grandfather, seeing the opportunity, invented an electrical motor that could power many different types of equipment.

Farmers around the country quickly adopted his product and by the late 1920s, he ran a small but successful business, selling his electrical motors and a variety of mostly farm-related equipment. (One of his inventions was a device to automate the ringing of church bells.)

Being Swiss, my grandfather always associated financial security with gold. He used all of his excess savings to buy small Swiss gold coins called Vreneli.

Over the next decade, he accumulated hundreds of them.


The War Begins


In 1939, following Hitler’s invasion of Poland, France declared war on Germany. Within weeks, German tanks were rolling through Flanders into Northern France.

My grandfather decided to take his wife and two daughters south to his mother-in-law’s farm in rural Normandy.

As his wife prepared for their departure, he retrieved his stash of gold coins and headed into the basement.

There he cut lead pipes into five-inch sections and melted one end of the tubes to seal them. After filling the pipes with his gold coins, he sealed the other end and within a couple of hours emerged from the basement with twelve short lead tubes filled with gold and a shovel.

He went out into the yard and buried the pipes with his life’s savings in a deep hole next to a big tree. With the gold safely hidden, the family left their home and joined hundreds of thousands of refugees heading away from the advancing German troops.

In August 1944, the German troops retreated and Paris was liberated by the Allied forces. As France started to heal from the wounds of war, life in the quiet town of Senlis slowly returned to normal.

Many years later, my grandfather fell ill and became bedridden. It was then, near the end of his life, that my grandfather called my mother to his bedside and instructed her to get a shovel, go to the tree and dig up the twelve little gold-filled lead tubes.

After decades underground, the coins were still there, and my grandfather split them between my mom and her sister.

A couple of decades later, my parents decided it was time to pass the gold coins on to their children—and so in 1984, the tubes were opened, revealing their precious contents as shiny and new as when they were first buried.

If my grandfather had kept the money in bank notes instead of investing them in gold coins, the value of the 36,000 French francs would be approximately €3.00 today (by the mid-1980s, the old French francs had lost 99.9% of their purchasing power).

On the other hand, the value of the 480 gold Vrenelis he bought would be approximately €105,600 today (each Vreneli coin contains 5.8 grams of gold).

That was the day I learned the true value of gold.






This article is published in accordance with a creative commons license here.

Irony: FBI Leaker McCabe Outraged After DOJ Leakers Finger Him for Criminal Referral

by Benjamin Arie


Call it cosmic payback or reaping what you sow — either way, life has a way of swinging back like a boomerang and hitting people with a strong dose of reality.

That’s what former FBI Deputy Director Andrew McCabe just found out, but he seems oblivious to the irony. The bureau figure who was fired for leaking to the press is now complaining about how unfair it is that there are leaks from the FBI, at the same time as he’s demanding immunity in exchange for his testimony to the Senate committee investigating the bureau’s handling of the Hillary Clinton email investigation.

McCabe is one of the figures in the middle of several political bias scandals at the FBI, including the discredited “Trump dossier” and apparent spying by the FBI against Donald Trump’s presidential  campaign.

Back in March, the second-in-command at the FBI was fired by Attorney General Jeff Sessions. The reason was simple: McCabe repeatedly leaked sensitive information to the media and then lied about it.

A report from the Department of Justice’s inspector general explained that McCabe was funneling details about a Clinton Foundation investigation to The Wall Street Journal, and was then dishonest about where the leak had come from… namely, himself.

“The report states that McCabe authorized another FBI agent to leak information about an ongoing investigation into (the) Clinton Foundation to The Wall Street Journal, not in the interest of the public, but for his own personal gain,” summarized The Federalist.

That official report goes on to explain in detail how McCabe “lacked candor” — bureaucrat-speak for “lied” — about leaks at least three times, including under oath.

Now, showing just how tone-deaf the former bureau official truly is, McCabe is complaining about leaks from the FBI… yes, the same organization where he was fired for leaking like a sieve.

In a letter sent to the Senate Judiciary Committee by McCabe’s attorney on his behalf, the disgraced former FBI deputy director essentially whined to lawmakers and declared that he was “outraged” that leaks about a criminal investigation of his alleged wrongdoings were taking place.

“(A)s the result of a stream of leaks from the Department of Justice, it is now well-known that the (Office of Inspector General) has made a criminal referral to the United States Attorney’s Office for the District of Columbia,” the former deputy complained through his attorney.

“As you know, the grounds for such a referral is the very low standard of ‘reasonable grounds to believe there has been a violation of Federal criminal law,'” the letter continued, bizarrely implying that reasonable suspicion of a federal crime was a bad reason to investigate someone.

“Even so […]  these leaks have forced us to acknowledge the criminal referral,” the letter admitted.

The complaining and finger-pointing over the same type of leaking that McCabe was fired for doing didn’t stop there.

“And, unfortunately, the stream of leaks has continued: As recently as last Thursday, additional leaks led to the reporting of specific investigative steps allegedly taken by the United States Attorney’s Office in response to the referral,” the document stated.

“We are outraged by these leaks and last Friday requested an investigation by the Department of Justice’s Office of Professional Responsibility into the source(s) of the leaks,” McCabe’s attorney explained.

That’s right: Apparently, leaking information to the media and then lying about it is completely fine when it can damage Donald Trump, but McCabe is suddenly “outraged” when similar leaks start actually hurting him.

Maybe he’s just upset that he’s not the only snitch in town.

Incredibly, the former deputy director then demanded immunity from prosecution in order to testify to Congress about matters related to the crimes — leaking and lying — that he’s accused of committing.

“Mr. McCabe is willing to testify, but because of the criminal referral, he must be afforded suitable legal protection,” the letter declared. “Accordingly, we hereby request that the Judiciary Committee authorize a grant of use immunity to Mr. McCabe,” it stated.

If there was still any doubt about why cronies like James Comey and Andrew McCabe needed to go, this should clear it up.

They see themselves as special and above the law, and can’t seem to even comprehend that their own actions — and the culture of leaking that they created — have consequences.


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The Perfect 46: A “Science Factual” Film about our Near Future

by Jessica Cussins

 

Sitting down to watch the science fiction film The Perfect 46, I had the strange sensation of walking through a hall of mirrors. Intriguingly meta-conscious, and perceptibly close to reality, this film highlights the world of direct-to-consumer (DTC) genetics and makes it clear that this technology, now at our real-world doorsteps, could drastically shape our very near future.  [Emphasis - DNI]

The story centers on the aptly named company ThePerfect46, which starts off with a seemingly innocuous mission. Taking advantage of the fact that most Californians have had their genomes sequenced by this undefined point in time, it simply offers to analyze a couple’s genomes alongside each other to determine their ability to have a disease-free child.  

But founder and CEO Jesse Darden isn’t content to stop there. In a move that sparks internal controversy and leads to one staff person abandoning the project, he rolls out version 2.0, which allows the company to search through giant databases and match random people together based solely on their ability to create genetically “ideal” children. The film cuts back and forth between a tense situation unfolding for Darden, flashbacks of his life, and a documentary film made about his rise and fall. 

While The Perfect 46 is a fictional film, it is being promoted by a real-life website purporting to actually sell ThePerfect46 product (kudos for the smart marketing ploy!). 

Darden, played quite well by Whit Hertford, is the star of The Perfect 46. He is a Steve Jobs-esque anti-hero: the disliked techie genius, the man behind the company that aims to improve humanity but ends up causing great harm. Darden comes across as “a tortured genius… a character that can be lauded and loathed in equal measure.” He is romanticized as smart and entrepreneurial, but his considerable personal and inter-personal flaws are never out of view. 

Perhaps by now both Darden and ThePerfect46 sound strangely familiar. If so, it’s probably because the similarities to companies and products that actually exist right now are jarring. This is a kind of science fiction that is only just barely fictional.

In fact, writer and director Brett Ryan Bonowicz calls The Perfect 46 science factual.” He invited a number of researchers to be consultants on the film and strove to show “a respect for science.” The scientific community has applauded his use of “authentic science” and raved about how the film is “a refreshing change of pace” because it doesn’t dissolve into a dystopian nightmare.  Here Bonowicz elaborates on why he pursued this approach,

By making the film as factually accurate as possible, the conversation that the film creates should, I think, spark something that a more futuristic, fantastic treatment perhaps cannot. The topics we cover in the film – genetics, eugenics, the moral and ethical implications of a consumer genetics service, and the role of government vs. a DTC model – are discussions that deserve to be out in the public. This is a film of the moment.

 In fact, you may find reality to be even more bizarre than this particular fiction. Just last year, the infamous DTC genetics company 23andMe received a patent for "gamete donor selection based on genetic calculations." The premise of the technology was that it could allow people to choose a sperm or egg provider based on probabilities of having a child with the kinds of characteristics they desired including “height, eye color, gender, personality characteristics and risk of developing certain types of cancer.” In response to backlash from the media about its “designer baby patent” with drop-down menus of characteristics, 23andMe assured everyone that it no longer had any plans to pursue the full range of possibilities described.

Another company, GenePeeks, has remained undaunted. GenePeeks launched just months ago, founded by molecular biologist Lee Silver, who writes broadly about how positive eugenics is both laudable and inevitable, and Anne Morriss, the mother of a sperm donor-conceived son who inherited the rare recessive disease MCADD.

GenePeeks’ “Matchright” is remarkably similar to the product offered by ThePerfect46For $1995, “GenePeeks digitally combines your DNA and the DNA of potential donor matches to create a preview of thousands of personal genomes that your child could inherit, focusing on a panel of genes involved in childhood health and disease.” Based on this information, you can then preview your personal “catalog” of donors and further weed them out based on your preference for such characteristics as height, eye color, hair color, education level, and ethnicity. 

What GenePeeks hasn’t marketed yet is its ability to test for much more than “health and disease.” But the patent it was awarded in January explicitly lists many non-medical traits: aggression, weight, breast size/shape, drinking behavior, drug abuse, eating behavior, ejaculation function, emotional affect, eye color/shape, hair color, height, learning/memory, mating patterns, sex, skin color/texture, and social intelligence, among others. It is thought to be possible to screen for just some of these traits, but all are covered by the patent.

Furthermore, GenePeeks doesn’t intend to limit its availability to sperm banks. It plans to expand soon and become available for “anyone planning a pregnancy in advance.” Of course, there is at least one fundamental flaw in the methodology of all these schemes: two people can have an infinite number of children with a full range of characteristics. Choosing a “preferred” donor can’t possibly absolve all risk

In fact [spoiler alert], in The Perfect 46, a bug in the company’s algorithm results in the birth of 24 children with a severe genetic disorder. The horrific mistake causes the company to close its doors and forces Darden into solitude, where he continues to develop his work and reflect on what went wrong. What is perhaps most remarkable about the scenario is that no one is ever found to be at fault, even when some of the children die, and at least one suicide results. While Darden is depicted as a broken man, devastated by the fault in a system he designed, he is relatively unmoved by personal stories, including one about a loving couple that divorced after hearing they were “incompatible.” In his mind, “Just because I created something doesn’t mean I’m responsible for how people use it.”

Is this the kind of language that will be used around technologies governing life and death in our market-driven culture? The film probes many such important questions. How quickly does the right to know become the responsibility, or even the requirement, to know? What will people do with this information? And what happens, and who is accountable, when it is wrong? 

(If 23andMe is anything to go by, some information will be wrong.)

Furthermore, can changing the kinds of people who are born really be considered “preventative medicine?” When recommendations about who is “fit” to be born are made by a commercial entity, does the absence of state involvement make the actions less eugenic? Is “perfection” what we ought to strive for? If so, what do we make of the founder – who is anxious, anti-social, awkward, not good-looking, and in the end, in “an irony that was lost on no one,” infertile?

The desire to know and control more, even when the meaning of the knowledge and our ability to control it is imperfect, can be powerful. But while it makes marketing sense for drug and genetic testing companies to pathologize more and more conditions, it probably doesn’t make sense for us. As these technologies become increasingly present in our lives, that point risks getting lost.

GenePeeks has just received $3 million in financing. The concept of adding genetic profiles to dating sites seems to be gaining steam. These trends suggest that this film could well be “more of a glimpse of the future than simply a hypothetical conversation about ethics and genetics.” 

But if The Perfect 46 is “a sort of prequel to Gattaca,” hopefully we will find a way to stop short of that future. 

You can find upcoming screenings of this thought-provoking film here, and check out CGS’s personal genomics news page here. Can you make it through the hall of mirrors, discerning the difference between fiction and reality?



[Note:  The burning question remains:  Can they really decode anyone’s genome?  Answer:  No.

Remember that the “human genome” is defined as the total DNA in both the nucleus and the mitochondria outside the nucleus of a cell.  Aside from the fact that only about 15% of  “THE” Human Genome has still only been decoded (along with problems like individual genomes are unique;  the sample consisted of mixing multiple samples from people around the world;  only the nuclear genes, and only their extrons, were addressed, etc. (see:  http://web.ornl.gov/sci/techresources/Human_Genome/project/index.shtml), what about that part of an individual’s genome provided by the person’s mitochondria?  And what about the 85% of the nuclear genes in an individual’s cells that was called “junk DNA” in the “introns” of those nuclear genes until lately?  Are these “kits” even capable of determining the mitochondria and the “junk DNA” in those “introns”?  See, e.g.: 

--  “DNA is actually not well understood. 97% of human DNA is called ³junk² because scientists do not know its function. The workings of a single cell are so complex, no one knows the whole of it. Yet the biotech companies have already planted millions of acres with genetically engineered crops, and they intend to engineer every crop in the world.”

Genetic Engineering and “Junk” DNA, Genetic Engineering, at:  http://www.authorstream.com/Presentation/ramyasekaran-1541143-genetic-engineering/

--  The Astonishing Powers of "Junk" DNA

http://www.khouse.org/enews_article/2012/1982/

--  Most of What you Read was Wrong: How Press Releases Rewrote Scientific History, Center for Genetics and Society, at: 

http://www.geneticsandsociety.org/article.php?id=6390

--  Never-Seen-Before Secret DNA Code And An 'Unusual Meaning'-Scientists Find, at:  http://www.designntrend.com/articles/9627/20131214/never-seen-before-secret-dna-code-unusual-meaning-scientists-find.htm 

-- Junk DNA — Not So Useless After All

“Researchers report on a new revelation about the human genome: it’s full of active, functioning DNA, and it's a lot more complex than we ever thought, at:  http://healthland.time.com/2012/09/06/junk-dna-not-so-useless-after-all/

--  What Junk DNA? It’s an Operating System;  Their report adds to growing experimental support for the idea that all that extra stuff in the human genes, once referred to as “junk DNA,” is more than functionless, space-filling material that happens to make up nearly 98% of the genomehttp://www.genengnews.com/insight-and-intelligenceand153/what-junk-dna-it-s-an-operating-system/77899872/ 

Given that their claims don’t even mention those DNA’s gives an indication that they don’t.  So what does an individual who buys such “kits” really end of knowing about their genome -- and how can any medical or eugenic decisions be based on such “information”?  Indeed, how can any supposed “ideal child” be genetically designed at all?  Is so-called “positive eugenics” a bunch of nonsense?  Perhaps the above, too, is a “discussion that deserves to be out in the public”!  In fact, much of what passes as "genetics research" and the "kits" described below would seem to border on scientific fraud -- and someone should be held legally accountable. The article first appeared here.

Caveat emptor!  --  DNI]



Report: James Comey ‘Defied Authority’ While Serving as FBI Director

by Scott Kelnhofer


Inspector General Michael Horowitz’s report about the Justice Department and FBI’s 2016 investigation into Hillary Clinton’s use of a private email server is expected to be made public in the coming weeks, and one source told ABC News the draft of the report uses the word “insubordinate” to describe former FBI Director James Comey’s behavior.

“The draft of Horowitz’s wide-ranging report specifically called out Comey for ignoring objections from the Justice Department when he disclosed in a letter to Congress just days before the 2016 presidential election that FBI agents had reopened the Clinton probe, according to sources,” ABC reported.

Horowitz’s draft report was also critical of Comey for failing to consult with Attorney General Loretta Lynch and other senior Justice Department officials before making his July 5, 2016 announcement on national TV in which he said said that while there was no “clear evidence” that Clinton “intended to violate” the law, the former secretary of state was “extremely careless” in her “handling of very sensitive, highlyclassified informaion."

Horowitz also criticized former Attorney General Loretta Lynch in the draft report for her handling of the federal investigation into Clinton’s personal email server, the sources told ABC News.

The draft of the report was finished last month. Horowitz said the Justice Department and FBI will be permitted to submit a formal response that will be attached to the final report.

On Tuesday, President Donald Trump went on Twitter to complain about the delay in the report’s release.

The report has been widely expected to be critical of Comey. The only question is just how damaging the report would be of the former FBI director.  “It’s not going to be good, it’s just a question of how bad it’s going to be,” a former Justice Department official told CNN last month of what’s expected to be in Horowitz’s report.

CNN law enforcement analyst James Gagliano said sources tell him to expect “a damning indictment” of Comey and the FBI’s upper echelon.

According to a May 16 report in The Washington Post, “The report is expected to blast former FBI director James B. Comey for various steps he took in the investigation, particularly his announcing in July — without telling his Justice Department bosses what he was about to say — that the FBI was recommending that Clinton not be charged, and for revealing to Congress just weeks before the presidential election that the bureau had resumed its work.”

According to The Wall Street Journal, the report is also expected to scrutinize whether former FBI Director Andrew McCabe should have recused himself from the Clinton investigation, since his wife’s campaign for the Virginia legislature was aided by then-Gov. Terry McAuliffe, a Clinton ally.

The report is also likely to criticize the thousands of texts exchanged by two FBI employees — agent Peter Strzok and attorney Lisa Page — who were extremely critical of President Donald Trump and others, the WSJ reported.  The report is currently being reviewed and is expected to be released this month.

What is taking so long with the Inspector General’s Report on Crooked Hillary and Slippery James Comey. Numerous delays. Hope Report is not being changed and made weaker! There are so many horrible things to tell, the public has the right to know. Transparency!Rudy Giuliani, one of the president’s lawyers, told the Associated Press in recent days that he believed the report would be damaging to Comey’s reputation.

“This is going to be the final nail in his coffin,” Giuliani said of Comey. “This guy has already proven to be a leaker and liar and we believe the report is going to make that plain.”

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