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This is the Dr. Beter AUDIO LETTER(R), 1629 K St., NW, Washington,
D.C. 20006.

   Hello, my friends, this is Dr. Beter. Today is October 31, 1980,
and this is my AUDIO LETTER(R) No. 59.

   Earlier this month millions of baseball fans were preoccupied with
the World Series. The World Series is always great fun with plenty of
excitement and suspense right to the end; and even if your team loses,
it's not so bad. There's always next year.

   Now you and I are caught up in a "world series" of a different
sort. Ours is a series of battles to determine what sort of world we
will leave to our children, and there will be no rematch next year! If
we strike out now, the game is over, so we need to keep swinging until
we finally hit that home run we need in order to win.

   My three special topics this month are:

Topic #1--THE IRAN HOSTAGE RELEASE PLAN FOR WAR Topic #2--SENATOR
WILLIAM PROXMIRE AND "ACTION STEP 4" Topic #3--"ACTION STEP 5" ON A
NEW BATTLE FRONT.

Topic #1--During this month of October 1980 three issues have
dominated the news here in the United States. One has been the
continuing war between Iraq and Iran. That has been overshadowed in
turn by sudden new rumors about a possible release of our hostages in
Iran. And the third issue, riding the waves of other events, has been
the up-coming election. These three on-going news stories are all
related, and in turn they all reflect a fierce struggle behind the
scenes among three (3) different power groups.

   One group is that of the Satanic Bolsheviks who now control the
United States government. Another group is that of the Rockefeller Oil
Cartel now under the control of John J. McCloy. And the third power
center is in the Soviet Union whose rulers today are in a battle to
the death against the Satanic Bolsheviks. The primary actors right now
are the Bolsheviks and the McCloy Oil Group. It is they who have done
most of the maneuvering in the Iraq-Iran war, in the hostage release
rumors, and in the election build-up. But in all three areas, Russian
agents have been joining the fray too. Wherever possible they are
trying to interfere with Bolshevik plans even if that helps Big Oil
temporarily.

   For most Americans, the rumors about a possible hostage release
have become a central issue in recent days. It seems to have sprung
from the Iraq-Iran war and talk of trading spare parts to Iran for the
hostages. And the prospects for a hostage release are also being
watched for their effect on our national election. And so after nearly
one year, the Iran hostages are again on center stage. And now as
then, my friends, the real stakes in the Iran hostage issue involve
the danger of thermonuclear war.

   Last month in AUDIO LETTER No. 58 I explained how the Iraq-Iran war
was triggered. It involved a huge bribe to Iraq engineered by the
Rockefeller Oil Cartel, and it was paid in gold--$8,000,000,000 worth
of gold! This was part of the very gold which was stolen years ago
from the United States Treasury Depositories. The goal of Big Oil is
the one I explained last month. They want to finish what they started
by their overthrow of the late Shah of Iran. They want to retake
control over Iran with its oil riches on new and more profitable
terms, and to do that they want to topple the so-called Khomeini
regime one way or another. The war with Iraq is supposed to begin that
process, but Iran is not the only arena in which the crumbling
Rockefeller Cartel is trying to reassert itself.

   It's happening also right here in the United States. All of the old
faces from the heyday of Rockefeller power under the Nixon
Administration are clustered together right now under the Republican
banner. The ghost of Nelson Rockefeller is grasping for the White
House once again. Meanwhile the Bolsheviks who have seized control of
the United States government have no intention of letting go, and the
easiest way for them to retain control is simply to keep the same
faces on the scene. And so the Bolsheviks here are doing everything
they can to prevent a change in the White House.

   Last month I reported that the Rockefeller Big Oil Group had worked
hand in glove with this Bolshevik government in the Iraq-Iran war. But
here at home, the two are rivals. Last month I said that Big Oil was
only setting itself up for double-cross by the Bolsheviks; and sure
enough, this month the Bolshevik double-cross began to materialize in
the form of a sudden new hostage release plan. By means of this one
ploy, the Bolsheviks in the United States Government were hoping to
pull the rug out from under the Rockefeller Oil Group, both in the
Persian Gulf and in the election here.

   On October 6 the Republican campaign announced the formation of a
Special Advisory group. The group was said to be for the purpose of
watching for and planning against a so-called "October surprise." It
was feared that something was about to happen to upset the apple cart
just before the election. The very next day, October 7, their fears
began to be realized. An independent presidential candidate, Barry
Commoner, announced that he had received a hostage release proposal
from Iran. It was turned over to the State Department, and there began
to be flurries of excitement. On October 9 the hostage story warmed up
some more. That day State Department spokesmen stated that they were
in contact with the hostages. Referring to the top ranking hostage,
Bruce Langdon, the spokesmen said, quote: "We are in contact on a
regular basis."

   The next item to build anticipation over the hostages came from
Norway. Norway, like Iran, is in the front lines of the Bolshevik
planning for a nuclear first strike at Russia. I reported that long
ago in AUDIO LETTER No. 37; and on October 10 a newspaper in Oslo,
Norway helped to move along this latest Bolshevik ploy. The Norwegian
newspaper quoted former Iranian Foreign Minister Ghotbzadeh as saying
that Iran should release the hostages immediately. In the United
States the excitement built up another notch.

   For the next week or so the Iran hostage release rumors were
allowed to simmer for a while. Then on October 17 Iran's Prime
Minister Rajai provided the next excuse for heightened rumors. He
appeared before the United Nations Security Council where he bitterly
attacked the United States for helping Iraq in the war, but that was
downplayed in the news compared to other remarks Rajai made in a news
conference a day later. Under pressure of the war with Iraq, Iran
seemingly was looking for a way out of the hostage crisis.

   The rush of rumors turned into a torrent after that, and on
Wednesday October 22 NBC Nightly News carried a sensational report. It
was said that there had been a "breakthrough" in the negotiation over
the hostages. Supposedly the Iranian Parliament was almost certain to
set conditions for the hostage release during debate on Sunday,
October 26, and that could be followed by the actual release of the
hostages as early as the next day.

   Up to that point the Bolshevik planners had everything going their
way. By their calculations, the  release of hostages on that schedule
would have guaranteed re-election of this Bolshevik Adm inistration,
because the entire week preceding the election would have been filled
with news of the hostages. There would have been the drama of the
release itself, then for days stories of some of the hostages coming
home, others going to intermediate stopovers for medical treatment.
Stories of reunions, interviews of former hostages and their families,
special news reports to rehash it all. And, my friends, if it had all
gone as planned there would have been euphoria here on election day
1980. Millions of formerly undecided voters would have been caught up
in the emotion of the moment, and the Bolsheviks were certain that
they would pull the lever marked "Jimmy Carter" in the voting booth.
It did not matter that cynicism would set in later over the timing of
the release. By then, the election would have been over and the deed
would have been done. That was the Bolshevik plan of the United States
Government, but once again Russian agents are trying to intervene in
an effort to unravel these Bolshevik plans.

   From the very beginning the hostage situation in Iran has been
under Bolshevik control, as I first revealed in AUDIO LETTER No. 52.
But the Bolsheviks do not exercise complete control over Iran, because
the Russians have also succeeded in establishing an important level of
influence in Iran nearly a year ago. In the present situation,
Bolshevik agents in Iran tried to stampede the Iranian Parliament into
the quick action they wanted. But Russian agents succeeded in at least
slowing down the stampede, and the Bolshevik timing was delayed. So
now even if the release of the hostages does take place in one form or
another, the effect on our election is less predictable. A last minute
release could even have a backlash effect on voters due to cynicism,
and so the election is now up for grabs. It could easily go contrary
to Bolshevik wishes. If it does, that will be a setback for the
Bolsheviks, mainly in terms of delay. They will be forced to
re-establish control over any new administration. That will cost the
Bolsheviks a little bit of valuable time in their frenzy to set off
NUCLEAR WAR ONE, and that is exactly why the Russians want a change of
administration simply to slow down the Bolsheviks.

   But I mentioned earlier that the hostage release ploy of the
Bolsheviks was set in motion for two (2) purposes. One was to
undermine the grab for the White House by the Rockefeller Big Oil
Group under the name of Ronald Reagan. That purpose depended strongly
on timing, and so has probably been ruined; but the other purpose of a
hostage release at this time is still on track. It is part of the
latest Bolshevik scenario to lead up to a nuclear first strike against
Russia.

   The first step in this latest war plan was to set off the Iraq-Iran
war, as I mentioned last month. The Rockefeller Big Oil Group did
this, thinking they were starting the downfall of the Khomeini regime;
but the Bolsheviks here used it for another purpose instead. Basically
the Bolshevik United States Government is saying to Iran: "Release the
hostages and we will give you military help against Iraq", which is
backed by Big Oil; and to get ready, a sizeable Amphibious Attack
Force of United States Marines is on the way. The Force includes a
helicopter carrier, landing craft, and some 1,800 Marines. It passed
through the Suez Canal very quietly on October 27 heading for the
Persian Gulf. The tactics keep changing but the strategy is always the
same.

   Lately our fears have been stoked up over Russian designs on the
Middle East and Persian Gulf. First Russia was given a black eye by
its past ties with Iraq when Iraq invaded Iran. Now we are hearing
about Russian overtures to Iran by supplying certain war needs. And in
the midst of it all is the hostage release ploy. The Bolsheviks here
are trying to set the stage for a massive American military return to
Iran. If the plan succeeds, it will be as I described it long ago in
AUDIO LETTER No. 37, and I quote:

 "The American public will demand that it is time to stand up to
Russia, and with full public support American troops and weapons will
pour into Iran. From that point onward the outbreak of NUCLEAR WAR ONE
will be all but impossible for the public to follow by way of the
so-called news."

(End of my quotation from AUDIO LETTER No. 37.)

   The Russians know what is afoot and they are trying to ruin the
plan. In this case, that means trying to spoil the hostage release
negotiations altogether. Up to now Russian agents in Iran have
succeeded in spoiling the timing of a hostage release, and they are
still at work as I say these words on October 31, hoping to prevent
the hostages from being released at this time. If they succeed, it
will be the fourth time during 1980 that nuclear war has been averted.
Even so, the Bolsheviks who have taken over our government never rest.

   By the time you hear this, the election will be past and the matter
of the hostages may have been decided, but the Bolsheviks already have
another serious crisis building up in Poland. For two years now the
Bolsheviks have been trying to create an explosion in Poland. The
first plan was the one for a Pope's Revolution, as it would have been
known. I described that plan in detail in AUDIO LETTER No. 42; but
just as in the present hostage release ploy, timing was critical to
the Pope's Revolution plan; and the Russians were able to spoil the
plan by changing the timing of the Pope's visit to Poland. But now the
Bolsheviks have a new weapon of destruction in Poland. It is the
so-called "Independent Trade Union" movement. It has been given the
old Bolshevik name "Solidarity", but its real purpose is not
solidarity but division, turmoil, and revolution.

   Two months ago the new rulers in the Kremlin defused the
confrontations then brewing by approving major concessions to the
strikers. Now many of the Polish workers want to take a breather to
consolidate their gains, but the Bolsheviks did not create the new
Labor movement for that purpose. Instead there are new and bigger
demands, spreading agitation, and threats of a new major strike. So
now Poland's borders with Russia, East Germany, and Czechoslovakia are
slowly being sealed off. Large concentrations of Russian troops are
now poised along the border in Russia and East Germany. The Polish
workers, having been used as pawns, may soon lose everything; but
those who have used them, the Bolsheviks, may well get everything they
want--revolution, strife, and bloodshed. If that happens, my friends,
it may be the last straw for the leaders in the Kremlin.

   Last month I reported that Russia had begun making feverish
preparations to be able to decimate New York City by means of
geophysical warfare. I can now report that these preparations also
extend in more limited form northward into New England. There is a
little known but major fault that runs along the east coast, partly
offshore, partly on land, and Russian cobalt bombs for earthquake
generation have now been planted in eight (8) areas along this fault
in the Northeast. These locations respectively are: south of
Providence, Rhode Island; south of Norwich, Connecticut; several near
Hartford, Connecticut; near New Haven, Connecticut; south of
Springfield, Massachusetts; and near Northampton and New Bedford,
Massachusetts. But it is still New York City that is now subject to
the greatest devastation by far. The reason, as I explained last
month, is that New York is the headquarters city of the Bolsheviks
here in America. Right now the Bolsheviks are trying to see to it that
Russia has her hands full due to revolution in Poland; but if that
happens, the Bolsheviks here will also have their hands full. They may
well find themselves picking through the smoking rubble of that ruined
headquarters city because, my friends, at last report there are now 85
earthquake-producing cobalt bombs buried beneath the waters around New
York City.

Topic #2--For several months now I have been offering you my step by
step answers to the question, "What can I do?" I began doing this
because more and more of you were as king me to do it. You had started
telling me that you were no longer satisfied just to watch and listen
as our crises multiply; instead the time has come for action--now or
never.

   In AUDIO LETTER No. 56 last July I said that what we must do is to
wage PREVENTIVE war. Ours is a war of truth to head off nuclear war.
Our strategy is to take away the gold weapon which our enemies within
are using against us; and by revealing the truth about the theft of
America's gold supplies, the gold weapon will become our very own.
This is the only way, my friends, we can seize a weapon big enough to
halt our betrayal into national suicide.

   The first battle front in our preventive war is our campaign
directed at Senator William Proxmire, and we must continue what we
have started along those lines. But up to now Senator Proxmire has
been conspicuous by his failure to take meaningful action, so this
month we are about to open up a second front in our preventive war. It
lies totally outside Proxmire's control yet could also increase the
pressure for him to act. I will go into all that in Topic #3, but for
now I want to concentrate on our direct campaign with Senator
Proxmire.

   For more than two months now many of you have been showering
Senator Proxmire with letters. As I have suggested, you have demanded
that he open up a full, public investigation of America's gold
reserves. Ultimately there will have to be a complete physical
inventory of our gold, if there is any left. My friends, in any
campaign like this, every effort is always made to make you feel
isolated; but if you think you are alone in your concern about our
missing gold, think again. To give you an example of what I mean, I
have an important letter to read to you. It was written to Senator
Proxmire early this month on October 2. The writer is a very astute
businessman in Proxmire's home state of Wisconsin. What's more, he's a
man who knows Proxmire socially; but wait until you hear what he
thinks about the situation. He sent a copy of his letter to my dear
friend Mr. Edward Durell. He gave permission to make it public if
desired, and Mr. Durell provided me with a copy. I will now read it to
you:

 "Dear Bill,
  Mr. Edward Durell, a close friend of mine, has sent me a copy of his
letter to you of September 5, 1980. The crux of the letter asks that
you demand an inventory of the nation's gold reserves. I have written
to you on this subject myself more than once. The reluctance of the
Treasury Department to provide a sensible answer to this basic and
simple question appears to indicate that the present real value of the
Treasury's gold reserve might represent the ultimate 'Golden Fleece.'

  The inventory practices which the Treasury is currently using would
not be accepted by any public accounting firm nor by any corporate
management I know of. It is elementary that the nation know what its
gold reserve is; and the fact that no action is taken to take a
physical inventory, as would be required by generally accepted
accounting standards, makes the United States Gold Reserve an open
question around the world. I have personally heard this question
raised by financial people in both London and Zurich, and of course
many times in the United States.

  As Chairman of the Senate Banking Committee, this is certainly one
of your responsibilities. It seems strange that you do not take a
determined action on this question which is so much more important
than the many other incidents of waste which you have pursued with
vigor.
                                             Sincerely, "

and there follows the signature of the writer.

   My friends, the letter I've just read to you represents the
thinking of more and more highly informed business and financial
people, so don't let anyone bluff you into thinking otherwise.

   Now let me return to your own letter-writing campaign. By now you
should have received at least one reply from Senator Proxmire. Some of
you have received two replies by now. The first wave of letters to
Proxmire in August produced a computerized form letter, which I quoted
last month. Proxmire began sending that letter to people in late
August. In the letter Proxmire passed the buck to the Treasury itself.
Supposedly he asked the Treasury's Inspector General for a report
about a specific missing shipment of gold. This was the mystery
shipment of January 20, 1965 from Fort Knox. It was a shipment worth
more than a billion dollars--1000 million dollars--at today's prices;
and it was admitted in writing five years ago by Mrs. Mary Brooks,
then Director of the United States Mint. Yet it was listed nowhere on
the official Treasury listing of shipments from Fort Knox.

   Now the time has come to ask a new question, my friends, and that
is: "Whatever happened to that promised report by the Treasury
Inspector General?" After all, you've been writing to Senator Proxmire
since mid August. I hope that you've been keeping a file of all your
correspondence to and from Senator Proxmire, because now it's time to
write your most important letter yet to Senator Proxmire; and if you
can refer back to the date of your first letter, it will increase the
impact of this letter. If you have not been keeping a file as I urged
you to do, then just do the best you can on this letter; but please do
start now to keep a file in a folder or in a manila envelope. As time
goes on, this will become more and more important.

   By the way, if you have not written before but want to write this
time, by all means please do so. Make whatever changes you need to in
the model letter I'm about to suggest, to fit your own situation, and
send your letter to:

   Senator William Proxmire
   Senate Office Bldg., Washington, D.C.

   Now here's what I suggest as a starting point for your newest
letter to Senator Proxmire:

 "Dear Senator Proxmire,
  For several months now I've been writing to you to urge that you
open a full, public investigation of America's gold supplies. I first
wrote you about this urgent matter on (date so and so). In reply you
promised as a first step to obtain a report about one matter from the
Treasury Inspector General. This matter was the missing gold shipment
on January 20, 1965 from Fort Knox.

  I have also written you more recently on this over-all subject, but
up to now your replies continue to say that you have requested a
report, not that you have received one; so I now ask:

  'Have you received the report you said you requested from the
Treasury Inspector General over two months ago? If so, then I request
that I be furnished a copy promptly. But if not, then why not after so
long a time? If it takes over two months for the Treasury to figure
out what happened to a billion dollars worth of gold, then something
is very wrong. And something is also very wrong if you are content to
accept silence about so vital a matter.'

  Once again, I urge you to open up a full, public investigation into
the condition of America's gold supplies without further delay. And
more and more of my friends and neighbors are beginning to agree--that
is the message of the additional signatures at the end of this
letter."

After signing your letter, then get everyone else you can to add their
signature below yours, just signatures of anyone who agrees that your
question deserves an answer. Even if only two or three friends will
add their signatures below yours, it will help. Every name counts. Use
your influence. Before, Proxmire was receiving letters; now he will
begin to see petitions, petitions, and more petitions. And, my
friends, so will other certain very important people!

   After you have collected all the signatures you can, please make a
generous supply of photo copies before mailing the original to
Proxmire, because copies of this latest letter to Senator Proxmire
will be a weapon you can begin using for other purposes, and we will
use them right away as we open up the second front in our Preventive
War to SAVE AMERICA.

Topic #3--As you probably know, America's currency is not issued by
the Treasury but by the "Federal Reserve System." If you look at a
dollarbill you will see the words: "Federal Reserve Note." In banking
terms, a Note is an I.O.U.--a promise to pay something; and it's the
Federal Reserve System, not the United States Government itself, that
issues these I.O.U.s which we use as currency. They're printed by the
United States Government Mint for the Federal Reserve System for a
small fee. In effect, the United States Mint, a branch of the Treasury
Department, serves as a mere print shop for the Federal Reserve
System.

   Many people assume that the Federal Reserve System is a Government
agency, which IT IS NOT. It is purely a privately-owned Central
Banking System! What I've just said is essential to understand. It's
the key to our opening up the Second Front in our Preventive War to
Save America. So before I go on, I want to say a few more words about
the purely private nature of the so-called "Federal Reserve System." I
realize that for some of you what I will say will be review. You've
already studied the Federal Reserve System yourself and know that it
is a private corporation, but my mail indicates that many of my newer
listeners are not aware of this.

   It's not surprising that so many people believe the Federal Reserve
System to be a Government agency. From its very beginning in 1913, the
Federal Reserve has always presented a false governmental image. To
begin with, its creation in 1913 required an act of Congress; but that
was not because Congress was authorizing a new Government agency.
Instead, it was because Congress was abdicating its CONSTITUTIONAL
duty to create and issue the nation's money! In effect, Congress gave
a Federal Corporate Charter to the new privately-owned Central Banking
System. In turn, that system was given the name "Federal Reserve
System."

   There were many Americans in those days who were bitterly opposed
to the creation of a private Central Bank. They believed that the
creation and control of our money should be left in the hands of the
Government--not a private corporation. Others believed that private
control of our money would not be so bad if it were dispersed. What
these critics opposed was concentrating our money control in just one
bank.

   To silence these critics, the architects of the new private Central
Bank for America did two (2) things. The first had to do with the
Board of Directors of the System as a whole, which they call a "Board
of Governors" because it sounds better. They agree to allow the
Chairman of the Board to be a presidential appointee; and just for
good measure, they agree to let the appointment be subject to
confirmation by Congress. The other maneuver by the Federal Reserve
architects of 1913 was to abandon the idea of a single Central Bank.
Instead they created a system of 12 banks scattered across the United
States. That gave the image of a diffusion of control over America's
money; but actually that, too, was only for show purposes to silence
the critics. All of the real action in the Federal Reserve System
takes place within the Federal Reserve Bank of New York. The other 11
Regional banks just follow the lead of the New York Bank. They have
power but rarely use it, and so in effect the Federal Reserve Bank of
New York is the real Central Bank of the United States.

   The governmental cloak that seems to surround the Federal Reserve
System is actually very thin, but it's enough to mislead most people,
because they do not look close enough. For example, people often
assume that the word "Federal" is a sign that the Federal Reserve
System is a government agency; but as Abraham Lincoln once said in a
famous court case: "A flower does not become a rose just because I
call it a rose." And the Federal Reserve System is not a government
agency just because of its name. If you will look around you, you will
see many private companies that use the word "Federal" in their names.
For example, there is even an air freight company called "Federal
Express", but of course Federal Express is not a government agency.
It's a private company, with private stockholders.

   The real criterion as to whether an entity is public or private is
that of ownership; and by that criterion the 12 Federal Reserve Banks
are totally and unmistakably private corporations. They issue stock
like any other private corporation; and, my friends, the United States
Government does not own one penny's worth of Federal Reserve stock.
Even the buildings which house the Federal Reserve Banks and the land
which they occupy are privately owned. They pay local real estate
taxes thereon. That is even true of the building here in Washington
where the Federal Reserve Board of Governors meet. Employees are not
governed by Civil Service rules like the Government employees. The
President of the United States rubber-stamps each new Federal Reserve
Board Chairman as if he were a public official; but the minute he is
confirmed, the Chairman of the Federal Reserve Board passes through
private doors, and behind those doors the private Federal Reserve
System does exactly as it pleases, issuing or withholding money and
credit at will.

   Federal Reserve stock is issued only to banks, which in turn are
controlled by other powerful private interests. Banks which own this
stock are called "Member Banks." Your own bank may be a member. If it
is, your bank has paid money into the Federal Reserve in two forms.
One form is ownership of Federal Reserve stock. This bears interest in
the form of dividends of only 6%. But also, your bank is required to
turn over a certain percentage of its own deposits to the Federal
Reserve Bank in your district. Those deposits, called "Reserve
deposits", bear no interest to your bank. Even so, Member Banks of the
Federal Reserve System do receive certain services and advantages from
membership, but they are also burdened and restricted in important
ways. As a result, more and more banks have been withdrawing as
members of the Federal Reserve System. Smaller banks especially have
been pulling out for a breath of fresh air. Like any monopoly
threatened with competition, the Federal Reserve money monopoly
panicked. The "Fed" generally ignores Congress except when faced with
trouble.

   When trouble does flare up, the "Fed" always runs to Congress for
help. Most of all, they count upon a favorable hearing from the
Banking Committees of the Senate and House; and the Wisconsin
twins--Senator William Proxmire and Congressman Henry Reuss--never
fail to oblige. And so earlier this year, Congress passed a new law to
rescue the Federal Reserve--a sort of a Union shop for banks. It
requires even non-member banks to place interest-free deposits with
the Federal Reserve System. What is more, it creates a bureaucratic
nightmare for all small banks. As usual, the little guy is being
squeezed out in favor of big money. The alleged excuse for this new
Act is that it's needed to promote financial soundness of our nation's
banking system. The argument is very simple. Supposedly, the new law
is to help guarantee the safety of the underlying assets of your bank.
Your bank is now forced to place a fraction of its assets in the
Regional Federal Reserve Bank. Your bank cannot use those funds, and
so we are told it cannot lose them.

   But now, my friends, consider this. The Federal Reserve Banks are
themselves claiming to have assets they do not have--gold assets. So
your bank stands to lose everything that it deposits in the Federal
Reserve Bank. And, of course, if your bank loses everything, so do
you! You have the option of either making or not making deposits to
your bank, but your banker no longer has any such option. He is forced
to be a depositor to the Federal Reserve Bank in your region, and the
Federal Reserve Bank does not have part of the assets it claims to
have; because, my friends, the monetary gold hoard of the United
States is not owned by the United States Treasury. Instead, title to
the gold has belonged to the Federal Reserve System since 1934. The
Treasury is only the custodian while the Federal Reserve Banks are the
title owners, and they are now owners o f gold that is long gone. They
are claiming assets that do not exist.

   Every Saturday the New York Times publishes the abbreviated,
unaudited financial statement of the Federal Reserve System. Almost
all of the assets boil down to nothing but paper, with one major
exception. That is the item titled "Gold Stock." The current value
listed is slightly over $11,000,000,000--that is 11,000 million
dollars, but that is at the meaningless official price of gold, a
little over $40 per ounce. The real value at current market prices is
closer to $200,000,000,000. That is the Federal Reserve "Gold Stock"
so called. It is by far the biggest asset of the Federal Reserve Banks
on paper. The quantity held by each bank varies, but all 12 Regional
Banks own portions of that Gold Stock.

   My friends, America's monetary gold hoard is often referred to as
the Treasury's gold, but that is not correct. The Federal Reserve
Banks have title to the gold through their Gold Stock. The Treasury
only acts as a depository or custodian for the gold. For example: The
famous United States Bullion Depository at Fort Knox is really just a
giant safety deposit box. The owner of the gold is the depositor, the
Federal Reserve System.

   For my listeners in business, financial and banking circles, I feel
I should drive this point home in one more way. You can see what I am
saying if you will simply compare the Balance Sheets of the Treasury
and the Federal Reserve System. First look at the Federal Reserve
Balance Sheet. On the Asset side you will see the Gold Stock item,
formerly called "Gold Certificates." To be concrete, for example, on
October 22, 1980, the Gold Stock value was listed as $11,165,000,000.
Now look at the Treasury Balance Sheet for that day. You will find the
same figure, but on the Liability side. So the Federal Reserve is a
creditor with regard to the gold, and the Treasury is a debtor--that
is, the Federal Reserve is the depositor of the gold while the
Treasury is only the custodian.

   My friends, I realize that all this may be rather involved, but
also it is vitally important because the facts I have been discussing
provide the basis for our second avenue of action to try to SAVE
AMERICA. I want to make these details available to you so that you can
refer back to them from time to time; but let me recap the basic
points to remember:

First, and very important. The Federal Reserve System is a private
Central Banking System. It is not an agency of the United States
Government.

Second: The owner of America's monetary gold hoard since 1934 has been
the Federal Reserve System; and the gold, carried as "Gold Stock", is
by far the largest asset claimed by the Federal Reserve Banks.

Third: The United States Treasury does not own this alleged monetary
gold. Instead, the Treasury acts only as a custodian for the Federal
Reserve gold.

   My friends, the soundness of America's entire banking system is now
tied directly to the Federal Reserve System, and the Federal Reserve
is counting assets that it does not have--gold assets. The gold has
been spirited away from Fort Knox and other Treasury Bullion
depositories.

   It is in your financial interest to make sure that your bank
deposits are safe. It is in the interest of your banker to make sure
that his deposits with the "Fed" are safe; and all other things being
equal, it's in the interest of the "Fed" to make sure that its giant
gold deposits with the Treasury are safe and sound.

   So I am now ready to suggest what we can start doing through the
banking system itself. To begin with, please go to your bank to obtain
some information. The information you need concerns the Federal
Reserve Bank which serves your region. There are 12 Federal Reserve
Banks located respectively in: New York, Boston, Philadelphia,
Richmond, Atlanta, Cleveland, Chicago, Minneapolis, St. Louis, Kansas
City, Dallas, and San Francisco. Find out which one of these is the
one which banks in your Region deal with, and find out its address. In
addition, find out the name of the President of that Federal Reserve
Bank and the names of every one on the Board of Directors.

   My friends, you will no doubt have to speak to a bank officer to
obtain all this information, and that's good. Speak to the highest
officer you can in your bank, because when you ask for all those
details about the Federal Reserve Bank in your Region you're likely to
raise some eyebrows. Hardly anyone ever comes in with a question like
this. If he asks why you want the information, tell him you intend to
write some letters and will be glad to give him a copy. Make it clear
though that you are not writing the Federal Reserve to complain about
your own bank. You should have no difficulty in getting the address of
your Regional Federal Reserve Bank and the names of its President and
Directors. In the unlikely event, my friends, that you do encounter
any resistance, just keep in mind that you have a legal right to this
information. As a depositor, you are a creditor of your bank, which in
turn is a creditor of the Federal Reserve Bank; and both you and your
bank have the right to seek assurances that your money is safe.

   Once you have this information, what you should do next depends on
where you are. If your banking Region is served by any Federal Reserve
Bank except the NEW YORK Federal Reserve Bank, then it is time to
write some more letters. But the New York Federal Reserve Bank is a
special case. If that is the one which serves your Region, do not
write any letters at this time. WRITE NO LETTERS TO THE NEW YORK
FEDERAL RESERVE BANK--just hold on to the information you have
obtained about its address and Directors.

   Now here is what to do if your Region is served by any of the other
eleven (11) Federal Reserve Banks which I listed earlier. I urge you
to write a letter to the President of the Federal Reserve Bank and
also to each of its Directors. I realize this is a lot of work, my
friends, but nothing less than our survival is at stake. We cannot cut
corners. Every letter should be typed or written separately in order
to have a personal impact, but it's all right to use the same wording
to the President and each of the Directors.

   To get you started, here's the outline of what I suggest you write.
As in the past, feel free to modify the wording to fit your own
concerns and your own way of expressing things. That will help to
personalize and vary the letters they will be receiving. Other
listeners, after all, will be writing to them too; but whatever you do
be sure to refer to Senator Proxmire, as you will hear in a moment.
Address each letter to:

President, or Director Federal Reserve Bank (of whatever city) at the
Federal Reserve Bank address.

 "Dear (so and so):

  I am writing to you because of my declining confidence in the
banking system of the United States. I am one of a growing number of
people with similar concerns. As a key official in the banking life of
our nation, my hope is that you will take action to help restore
confidence before it is too late.

  To illustrate my growing concerns, I'm enclosing a photo copy of a
letter which I sent recently to Senator William Proxmire. As Chairman
of the Senate Banking Committee, Senator Proxmire should be able to
reassure the public about banking matters, but my correspondence with
Senator Proxmire for several months has had the opposite effect.
Instead of reassuring me, Senator Proxmire's replies to serious
questions are alarming me; and as I discuss this with all my friends
and neighbors, they too are becoming more and more worried.

  Since Senator Proxmire is only managing to reduce confidence in our
banks by his behavior, I believe that I should turn to you for help.
If elected representatives will not do their duty, perhaps responsible
banking officials will.

  My basic concern is one which I believe you, as a Federal Reserve
official, should share. I believe that the United States Treasury has
been negligent or even worse in acting as custodian of the Federal
Reserve gold. Like many other people, I am convinced that it is time
for a phy sical inventory of the gold stocks in Federal Depositories.
There may be little or no gold left at all. If the Treasury has
defaulted onits obligation to protect the Federal Reserve gold, we
are in deep trouble indeed as a nation; and the Federal Reserve System
is counting assets listed as gold stocks which do not exist.

  As a concerned citizen and bank depositor, I appeal to you for help.
I respectfully urge you to use your authority to press for a physical
inventory of the Federal Reserve gold in Treasury vaults. There is no
other way to stop the spreading doubts about America's entire banking
system."

(End of letter, followed of course by your signature.)

   My friends, now you know why I suggested that you make a supply of
good photo copies of your next letter to Senator Proxmire. You will
want to enclose a photo copy of your Proxmire letter with each letter
to a Federal Reserve President and Director. By doing this, my
friends, we can accomplish two things at once. For one thing, Federal
Reserve System officials all across America may become a little
perturbed at Senator Proxmire. They will not be pleased to hear that
Proxmire is alarming you and others by his behavior. If even one
Federal Reserve official should write a note of displeasure to
Proxmire, it will have its impact.

   But aside from Proxmire himself, we are beginning to open up a
whole new avenue of action through the banks. For one thing, action
could take place through the Federal Reserve System itself to
inventory the gold because, as I explained earlier, 11 of the 12 banks
were originally intended for show, but they do have power. The New
York Federal Reserve Bank is now tightly controlled by the Bolsheviks
who want to destroy America, but the other 11 Banks are another
matter. Their Directors are indoctrinated basically to follow the lead
of New York. For the most part they are not given the inside track
about the most secret plans, and so they could decide to flex their
muscles in ways contrary to the wishes of the New York Bank.
Specifically, they could decide that a gold inventory is a good idea,
and they could help make it happen, my friends.

   At still another level, be sure to give your banker copies of your
latest letter to Proxmire and to the Regional Federal Reserve
President and Directors; because your banker, like you, has a
tremendous stake in all of this. And even the American Bankers
Association should press the Federal Reserve System to look into this
question. They should demand that the 12 Regional Bank Presidents
raise this question with the Board of Governors of the Federal Reserve
System here in Washington.

   My friends, I realize that all this is hard to digest at one
hearing, so I urge you to listen to it over and over again if you need
to until it all begins to sink in; because this is only the beginning
of our battle on a powerful new Second Front, and the key to it all is
the private corporation known as the "Federal Reserve System."

   Now it's time to give you my last minute summary. In this AUDIO
LETTER I've tried to alert you to some of the latest battle fronts
which are involved in the secret war now raging. During this month of
October 1980 there have been all kinds of rumors that our hostages in
Iran may soon be released. In Topic #1, I reported to you how this
came about, and why. It was set in motion partly for reasons related
to our national election four days from now. But even more
importantly, the release of our hostages right now is intended to be
one step on the path to nuclear war. The Russians know this and want
to avoid becoming the targets of a Bolshevik-triggered American first
strike, and so Russian agents in Iran are trying hard to stop the
preparations for a release of our hostages at this time. But even if
this crisis should fizzle out, others are being set in motion to take
its place. One of these is already on the horizon in Poland. If full
scale revolution should erupt there, the Russians are prepared to
retaliate by means of geophysical warfare.

   The true capital city of the Bolsheviks--New York City--may very
well suffer a massive earthquake. According to my last minute reports,
other geophysical warfare preparations are also continuing. In AUDIO
LETTER No. 55 I described how Russian geophysical warfare techniques
triggered the explosion of Mount St. Helens last May. The final step
in the process involved a squadron of Cosmospheres firing their
Charged Particle Beam weapons from overhead. And as of October 26,
squadrons of four (4) Cosmospheres each were on station over several
volcanic mountains of the Northwest. These are: Mount St. Helens,
Mount Adams, Glacier Peak, and Mount Rainier. There is also a single
Cosmosphere, purely for observation, stationed high above Mount Hood.

   My friends, the warring factions of the Bolsheviks, Big Oil, and
the Russians are bringing us closer and closer to open all-out war.
They are attacking and counterattacking on many fronts; and if you
want to stop our downward slide into catastrophe, we too must take
action on many fronts.

   The TRUTH is a powerful weapon, and we must use it in every way we
can. Month by month I am trying to bring avenues for action to your
attention; and because more and more of you are taking action, I
believe there is a glimmer of hope for America. Last month, for
example, many of you did succeed in getting LETTERS TO THE EDITOR
published. Even the Washington Star published one of them and gave it
the headline "WHERE IS OUR GOLD?"

   What we are trying to do together, my friends, can be learned in
only one way and that is by doing it. I know it is not easy, but so
far I believe you are doing a magnificent job, and I thank you.

   Until next month, God willing, this is Dr. Beter. Thank you, and
may God bless each and every one of you.
------------------------------------------------
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