Inside the Illusory Empire of the Banking Commodity Con Game

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“What you know you can't explain, but you feel it. You've
felt it your entire life. There's something wrong with the world. You don't
know what it is, but it's there, like a splinter in you mind, driving you mad”
– Morpheus


By the time you finish reading this
article, you may discover that you have many more questions than answers. When
I decided to write this article, my objective was not to provide answers but
rather to demonstrate to you that many presupposed airtight beliefs may
actually be littered with holes. Rather than to provide answers that may bring
curiosity to a halt with the end of this article, my objective is to have
inserted many more splinters in your mind that drive you to seek more answers,
to question the beliefs you already question, and to validate the truths you already


Today, nearly everyone seems to
realize that all major stock markets in the world are Casinos rigged by the
banker/government cartel for their own benefit only. Among investors, there is
a remarkably higher level of awareness today of the rampant fraud inherent in
the world’s leading stock markets than even that which existed a mere five
years ago. Only those that are absolutely rigid in their thinking despite the
presentation of a mountain of credible facts that support the contention of
massive fraud being perpetrated in stock markets remain among the few unable to
comprehend the truth. Albert Einstein once stated that unthinking respect for
authority is the enemy of truth. Too many of society’s widespread beliefs today
were borne out of unthinking respect for authority, and because of this, many
of us have been living the great majority of our lives in absolute darkness.
Several weeks ago, I addressed this very topic in a 6-part video series that
explores this very Empire of Illusion


I’m going to preface this article by stating that this article contains largely my opinions though I present
supporting facts when possible. This article also contains many deductions,
extrapolations and opinions, though the deductions are derived from logic and
the extrapolations, from common sense. In this article, I aim to
demonstrate that many universal truths accepted as indisputable today by
society-at-large, with origins in the banking/government cartel, are 100% entirely impossible to prove with facts. Furthermore, within the context of this article, I will demonstrate that my opinions often present a stronger argument for truth than the "truths" presented by the banking/government/media
complex that have been so lazily accepted by millions of people
around the world.


Admittedly, my articles often contain
very passionate views and strong opinions. However, passion has never been the twin soul of inflexibility. I have changed my views on many different
topics over the course of my lifetime as the direct result of the accumulation
of more knowledge and the greater gifts of deeper wisdom. I would hope that any
intelligent man or woman would always stand ready to adjust, alter, modify and/or
eventually change one’s belief system if he or she encounters compelling new
information that conflicts with or sheds news perspectives on previous beliefs,
even if these previous beliefs were very tightly held beliefs. When the weight
of evidence shifts the balance of judgment towards the probabilities of an
opposition view as likely holding the correct belief, any intelligent person
should give serious consideration to altering one’s present belief to the
assumption of the opposition view, even if it is a minority one, and even if it
is an unpopular one.


I don’t ask any of you to believe
what I say in this essay just because I state it. That would be the apex of
hypocrisy in addition to being antithetical to my belief system regarding how
all men and women should arrive at his or her own truth. Instead, I invite all
of you to perform your own research and form your own conclusions about the
hypotheses I state in this article. 
Furthermore, I encourage all of you never to accept a belief just
because your neighbor, your brother, your sister, your mother, your father, or
your co-worker holds this belief to be true. I encourage each and every one of
you to challenge beliefs you hold if you hold these beliefs merely for the
simple and indefensible reason that this belief has persisted among society for
hundreds of years. It is neither the level of our education nor the institution
that educated us that makes any of us intelligent. Rather it is the willingness
to challenge our present belief system, our openness to analyzing new
knowledge, and our ability to critically think for ourselves independent of
authority that makes us intelligent.


The Catholic Church taught for
centuries a geocentric view of the world that the sun revolved around the
earth. During the centuries they taught this lie as indisputable and
infallible, anyone that dared challenge this belief risked imprisonment or even
death. Copernicus, a scientist that lived from 1473 to 1543, was the first
well-known historical figure to challenge the Church with the idea of a
heliocentric universe in which the earth revolved around the sun, though he was
clearly not the first person to advance this truth. To avoid persecution by the
Church, Copernicus never published the heliocentric theories contained in his
book, “On the Revolution of the Celestial Spheres”, when he was alive. After
Copernicus’s death, Galileo took up further advancement of the theory of the heliocentric
universe. For daring to challenge the Church’s authority, Galileo was declared guilty
of being “vehemently suspect of heresy” and was imprisoned from 1633 until his
death in 1642. It was not until 1758, more than 200 years after the death of
Copernicus, that the Church finally revoked a general ban on all books that
advocated a helicocentric view of the universe. However, even after lifting its
ban, the Church only allowed the public access to heavily censored versions of
Galileo’s Dialogue and Copernicus's De Revolutionibus. Surely if one widely accepted lie could persist as the truth among the masses for centuries as a
result of those in power suppressing fact, then many similar instances are


"Banking and fraud were born into our global word as Siamese brothers, inseparable since birth. And just like Siamese brothers, if ever separated, they would likely die together as well."


Today, one may assume that banking
and financial fraud is more prevalent today than in decades past given the
greater visibility of this subject matter provided by the independent media and
to some extent, the mainstream media. Persistent whispers of high-tech fraud in
the form of High Frequency Trading programs that control the daily behavior of
stock markets with SkyNet-like efficiency and headlines of covert deals made
under the shadowy cover of dark pools reach the public’s ears and eyes, and the
public readily believes that the levels of banking and stock market fraud are
much greater today than they had been in the past.  But the public fails to recognize the yin and yang of
fraud.  The depths of the economic
lows today are only possible because the summits of the economic highs of
yesterday were also built on fraud. The truth is, banking and stock market
fraud was rampant all through the Bush Sr. and prosperous bull market Clinton
years as well. The only difference was that because the fraud of this time was
busy creating warm, giggly feelings of false prosperity, the masses believed
that these times were honest times. Even Arthur Levitt, the Chairman of the
Securities and Exchange Commission from 1993-2001, was smart enough to know
that this was not the case. By the time the Glass-Steagall Act of 1933 was
“officially” repealed in 1999 through a collaborative effort between Citigroup
CEO Sandy Weill and Fed Reserve Chairman Alan Greenspan, Mr. Levitt himself stated
that the repeal of the Glass-Steagall Act was nothing more than a mere
formality. The reality of the banking and investment environment at this point,
Mr. Levitt stated, was that the US Federal Reserve, at the behest and incessant
lobbying of its member banks, had already “almost totally eroded” ALL of the
protections of Glass-Steagall.


So do not mistake the illusion that
is often sold to the masses as reality as actually being reality. Goldman Sachs
did not just become the Rolling Stone, Matt Taibbi-bequeathed “great vampire
squid wrapped around the face of humanity
” this past decade. Goldman Sachs has
been doing what Goldman Sachs does since it was founded in 1869. The notorious
Italian-American gangster Lucky Luciano, after learning of the corruption of
Wall Street, allegedly stated his remorse over his choice to become a gangster
versus a bankster after spending a day on the floor of the New York Stock
Exchange in the 1940s. Before being deported to Italy due to crimes he
committed as a gangster, Luciano allegedly confessed, “ I suddenly realized I
had joined the wrong mob.”


Banking and
fraud were born into our global word as Siamese brothers, inseparable
since birth. And just like Siamese brothers, if ever separated, they
would likely die together as well.
Below is just a very small sampling of the voluminous amounts of articles which I’ve written regarding the fraudulent state of markets over the past five years, including some very accurate predictions that were based upon an understanding of this fraud.


Market Rally in Monopoly Money"
, September 9, 2009

"Can Rising Stock Markets Serve as a
Sign of a Crashing Economy?"
, June 10, 2009

"The Biggest Stock Market Scam of the
Century, the Nuclear Option, is Being Unleashed – But Will it Succeed?"
, March
23, 2009

"Recent Anomalies in U.S. Stock
Markets – Proof of Free Market Intervention?"
, May 11, 2008

"Will US Markets Crash Now or Later?", April 23, 2008

"The Coming Dollar Crisis & Subsequent Gold Boom", January
31, 2008

"Is Hyperinflation Coming to the US, Time to Stock Up on
, November 7, 2007

Short-Term May be Rosy, But Beware the Financial Crisis that is Building Steam"
March 21, 2007

"The Peak Investment Crisis", September 9,


Today a great number of people, from
retail investors to investment advisers, understand that although stock prices
still move on earnings statements, cash flow, forward projections, etc., none of these parameters have any
credibility anymore as tools in projecting future stock price behavior. Corporations
across the globe have used the allowances of massive accounting changes in
their respective countries to create fantasy-land numbers that basically
shelter our eyes from the truth while feeding our brains the same output from
the same banker/government propaganda program – that all is okay in Wonderland.


In fact, even the great vampire squid
establishment known as Goldman Sachs shockingly admitted that the great
propaganda machine has been showing signs of breaking down.  This month, Goldman Sachs’s David Kostin,
finally admitted what not only I, but what a handful of others have been saying
for many years now: "The economy is NOT the market."


"Every business school in the world
should have a class titled The Empire of Illusion 101 so business students can
learn that economic theory and economic reality are creatures that reside at
the opposite side of the spectrum and whose paths infrequently cross."


For this reason, I’m going to take
you down a new rabbit hole that remains relatively unexplored – the rabbit hole
of the commodity world. I don’t believe that there is a single global commodity
today that is sold at a free market price or even remotely determined by the free
market forces of supply and demand as every economics professor from here to
Timbuktu teaches in their Economics 101 class. I believe that Bankers rig the
prices of all global commodities and control prices for their benefit only to
the detriment of the wealth of their nations’ citizens. The price of all commodities,
not just the ones most important to bankers such as precious metals,
currencies, energy resources, and food, is always determined by their perceived
values and not their real values.


Just reference this video,
where I provide a foolproof test for people so they can understand that
diamonds are just one of thousands of commodities today sold on its perceived
value versus its real value that would be determined by the free market forces
of supply and demand. Though the well-documented 1870 discovery of thousands of
pounds of diamonds
at the Orange River in South Africa stripped the diamond of
its status as a precious stone, millions of people worldwide today still
willingly pay a price for diamonds that reflect their erroneous belief that it
is a precious stone.  Just as the
diamond cartel sets false artificial prices for diamonds in the world market,
bankers set false prices for many of the world’s most actively traded


In every business school around the
world, business professors constantly teach a new batch of naïve, impressionable
young adults the Empire of Illusion. They teach students that prices of
commodities are set by the free market principles of supply and demand. Practically
all of us have seen the supply and demand chart that is the staple of Economics
101 classes around the world. Supply goes up, demand is constant, price falls.
Supply diminishes, demand is constant, price increases. Supply is constant,
demand falls, price falls. Supply is constant, demand rises, price increases.
And eventually supply and demand forces will meet at a theoretical point of price
equilibrium. These are all complete myths, for in the real world, bankers
create artificial supply and artificial demand numbers to set real prices.
supply and demand forces, while affecting the price of commodities, do not
impose the largest effect upon the final price points of commodities.


Every business school in the world
should have a class titled The Empire of Illusion 101 so business students can
learn that economic theory and economic reality are creatures that reside at
the opposite side of the spectrum and whose paths infrequently cross. Perhaps a
decent analogy to help people understand the illusion of free markets is the
illusion of the political world. In the United States, The Powers That Be
(TPTB) designed the two-party Republican/Democratic system to give people the
illusion of hope that accompanies change and the illusion that they have some type
of choice. In reality, bankers control both parties, as is clearly evidenced by
the fact that there has been zero change in fiscal policy in the United States
for the last 22 years during which George Bush. Sr, William Jefferson Clinton,
George W. Bush, and Barack Hussein Obama all served as Presidents. Since the
political system is corrupt and the same small elite group of bankers control
the President regardless of his political affiliation, the process of elections
is nothing more than a charade that only ensures that TPTB have a different
face to present to the public that they can sell as one that represents change,
if the previous President had been unpopular with the people.


Capital markets are exactly the same.
The bankers have taught the world that free markets exist to present people
with the illusory belief that the people just may have some control in setting
prices in capital markets. However, in the end, the reality in the political
markets and the commodity markets is exactly the same. Though people imagine
they are in control, bankers manipulate all scenarios in these markets just as
a four-star general would command his absolutely obedient foot soldiers in a
military theater operation. It’s a damn shame that millions of wide-eyed students
grow up believing the utter nonsense of supply-demand determinants and free
markets that they learn in business schools all around the world. Bankers,
through fostering massive speculation in futures markets as well as releasing potentially
fake supply numbers, play an enormous role in dictating the perceived value of
every commodity on earth. This is what economic professors should be teaching their
students in Economics 101, but they don’t and they never will.


As I continue to uncover the mechanisms
of the commodity matrix in this article, I believe this article to be one of
the most important I have written in the last five years. I believe this
article to be more important than even any of the dozens of articles I’ve posted
on my blog that provided very specific guidance about specific sectors. Why? The
answer is simple. If this article can open people’s eyes so they can experience
the déjà vu of spotting the black cat in the matrix and therefore learn to see
the matrix itself, ultimately the ability to see the moving parts of the big
picture will allow people to connect the dots on their own and help them far
more during the second phase of this global monetary crisis than any specific,
short-term guidance.


Since there are literally thousands
of commodities to choose from, I have chosen to discuss the Empire of Illusion
with five commodities only: Gold, Oil, Food, Money and Education. Let’s start
with gold.

- Price Suppression Schemes Galore?


By official IMF reports, the United
States is supposedly the largest holder of gold reserves in the world, at 8,133
tonnes.  I say “supposedly”,
because the Federal Reserve has not allowed the US’s reported gold reserves to
be confirmed by an independent third-party audit since January 20, 1953.  Thus, nobody really knows how much
physical gold the US owns, except those that blindly accept the government’s
word as the truth. There are many additional reasons why the official US gold
reserve tonnage remains in doubt besides the lack of confirmation of the IMF
reported number in more than 58 years. During the 58-year period since the last
audit, leaked US Central Bank documents uncovered by GATA have confirmed
numerous speculations that the Federal Reserve has dumped US gold reserves in
the form of Central Bank swaps and/or through lease arrangements with global
bullion banks. 
Just how much of this gold may have disappeared from US bank vaults to achieve
the suppression of gold prices is anyone’s guess as is the amount of these gold
swaps and leases that have actually been returned to the US.


Of course, the true numbers of US gold reserves are not the only
numbers brought into question. It seems that all Central Bankers, no matter
what their race, have a genetic propensity to lie. In April, 2009, the Chinese
Central Bank announced in April, 2009 that it’s gold reserves were really twice
its prior “officially reported number” for the past five years.  And in June 2010, Saudi Arabia followed
suit when it announced that, due to an “accounting error” its gold reserves
had, like China, more than doubled overnight. If anyone believes that China is
really disclosing the true amount of their gold reserves to the world today,
then let me dispel your naïvete with a quote by former US Federal Reserve Vice
Chairman Alan Blinder: "The last duty of a central banker is to tell the public
the truth.
" So it’s not just China and
the US’s gold reserves that I question, but I question the validity of gold reserve
numbers from every key Central Bank in the world. Ask the Bundesbank of Germany
if they can prove they have custody of their reserves in their own country and
you will likely not receive a straight answer to this relatively simple
question either.


And what about the demand side of the
equation? At a CFTC hearing in April, 2010, in a well-covered story, Jeffrey
Christian of CPM Group confirmed that what is loosely called the London
"physical market" trades up to a hundred times more paper gold than
there is physical metal supply to back those trades. So even demand numbers in
the gold market have been proven to have little integrity. The not-so-invisible hand of banker
fraud is clearly at play in heavily determining the price of gold. Finally, many
of the same price suppression schemes that bankers have utilized against gold
have also been utilized against silver, though I am not going to broach that
subject here for lack of space and time.

– Is it Even a Scarce Resource?


With oil, I believe that the
banking/oil cartel utilizes the same perceived and artificially low supply scam
as the diamond cartel to effectively create deliberate wild fluctuations in oil
prices that they can capitalize on to amass great fortunes. Over my investment
career, I have written both articles declaring my belief for the peak oil
theory as well as articles in which I rejected the peak oil theory after
becoming privy to additional knowledge of which I had previously been unaware.
I stand today, after further research, firmly no longer a believer in the peak
oil theory. Yes, I am aware of the reported figures about dwindling production
in Mexico’s largest oilfield, Cantarell. Yes I am aware of rapidly dwindling
oil production numbers for global oil production numbers as well. Yes, I
am aware that the predominant number of people in this world believes in the
Peak Oil Theory (which alone is reason for me to start questioning it). And yes, I am aware that many will think that it is ludicrous to challenge the Peak Oil Theory. But should the concept of challenging a "universal truth" that we have been told, even instructed to believe, ever be considered ludicrous? For that is all I am suggesting here. I will present facts of an alternative theory regarding the possible abundance of oil that merit consideration and I merely challenge you to consider the possibility that it could be true.


But when there is a belief as widely
accepted as the Peak Oil Theory, one must always question the source of this
belief. In addition to my blogs over the past five years that have explored the
fact that virtually every key economic indicator statistic produced by governments
are blatantly false, there are many others that have also done a fine job of
establishing this fact (just perform a quick perusal of the website ZeroHedge
if you are ignorant of this fact). Why do governments produce economic lies?
Because they have a better chance of maintaining power if they can successfully
con the public into believing the “rosy” economic lies they produce. Why does
the diamond cartel produce phony diamond supply statistics every year to
mercilessly jack up diamond prices on unthinking, lovestruck men every year?
Because producing phony supply statistics allows the diamond cartel to charge
artificially high prices for diamond. In other words, the producers of these
lies are also the greatest beneficiaries of these lies. So who benefits from
the production of phony oil supply statistics, higher oil prices and a fear of
peak oil? The oil cartel and bankers. 


Understanding the shadowy world of
bankers requires one to think like a detective in pursuit of a criminal.
Identify a motive for why supply numbers for various key commodities may have
been falsely manufactured and you will find the likely culprit behind these
manufactured numbers. I have already illustrated to you earlier in this article
that bankers have lied to the world about the fundamentals of stock markets and
the real determinants of stock price behavior. I have also illustrated to you
that bankers have lied to the world about the real determinants of gold and silver
prices.  I will reveal later, a
quote from a Vice Chairman of a Central Bank that reveals his belief that it is
not just the prerogative, but also the duty of a Central Banker, to lie to the
public. So knowing this, why would anyone believe that bankers would tell us
the truth about the real determinants of the price of a barrel of oil? 


When oil incredibly soared from
$51.20 on January 17, 2007 to $147.20 a barrel in 7 months, and then incredibly
crashed to $35.35 a barrel just 5 months later, and then incredibly soared to
$81.19 a barrel just 10 months later, I challenge anyone to produce figures of
changing supply and demand determinants than can logically explain these
massive swings in price over such a condensed period of time. Of course, the
textbook media answer provided for these wild swings in price was that enormous
global demand caused oil to soar in 2007, a crashing economy in 2008 caused a
nosedive in 2008, and economic recovery caused soaring prices once again in
2010. I contend that the real answer is that 
Wall Street firms engineer massive manipulation of oil futures market contracts to create a significant portion of
these wild swings, if not the majority portion of these wild swings, even though “official studies” only attribute a nominal amount, perhaps 10% to 30%, of these
wild fluctuations to speculation. Global oil prices, like global gold prices, are completely
determined by a paper futures market today. So it is not the producers of oil
that cause oil to rollercoaster from $50 to $150 to $35 to $80, and it is not
speculators that produce the wild swings in supply and demand estimates that
create these rollercoaster rides. Rather it is the bankers that control these
paper markets and that control the supply and demand numbers that create these wild swings
in price.


When I first started discussing enormous fraud in the pricing behavior of gold markets
six years ago, people used to regularly ridicule me for my beliefs, especially
whenever I publicly blogged about my beliefs. Back then, my beliefs were
grounded in my own research as well as the very substantial mountain of evidence
provided by GATA that had not yet made its way into the general consciousness
of the mainstream public. Today, public beliefs about gold price suppression
schemes have evolved 180 degrees. Now deniers of gold price suppression
schemes, not I, are the ones viewed as naïve. I believe the same realizations
will eventually happen with all commodities, not just gold. Does anyone else
but myself notice that when oil prices are skyrocketing, peak oil theories are
widely discussed as the instigator for higher oil prices. However, during times
when bankers decide to move the price of oil much lower, why does peak oil almost
never factor into the discussions of oil prices?


"Proposing that we know for certain that
the process to form oil takes hundreds of thousands of year, or millions of years seems far more absurd to me
than the alternate theory of abiotic oil, where scientific evidence supports that
the carbon found in the building blocks of oil are not formed from the
decomposition of fossilized remains."


F. William Engdahl, an economic
researcher, historian and freelance journalist for some 35 years, states,

whole peak oil theory rests on the idea that oil is a fossil fuel, which is
accepted as religious dogma by almost every geology department in most of the
world. The problem is, oil is not a fossil fuel, it’s not from the detritus of
dead dinosaurs or from algae from under the ocean or bird fossils or whatever
fossils you want to take. It’s not a biological product.”

If this is true, then
what is oil? There is another theory about oil’s origins that very few people
are aware of called the abiotic theory of oil that actually has a lot more
scientific credibility than the much more speculative “fossil fuel” theory of oil.  Mr. Giora Proskurowski, a scientist
with the School of Oceanography at the University of Washington in Seattle, recently
headed a study that produced some very interesting conclusions. Oil,
Proskurowski stated, may actually be a natural product that the Earth’s mantle
constantly generates and whose source may be living organisms as small as
plankton rather than decaying ancient forests and dead dinosaurs. The advocates
of this alternative abiotic theory of oil production believe that oil seeps up
through bedrock cracks and is deposited, rather than originated, in sedimentary
rock as the fossil fuel theory of oil claims.


As proof of the increasing
credibility of the abiotic theory of oil production, scientists point to the Lost City,
a hypothermal field 2,100 feet below sea level located along the Mid-Atlantic
Ridge at the center of the Atlantic Ocean noted for its strange 90 to 200 foot
white towers that bubble from its vents. In 2003 and 2005, Mr. Proskurowski and
his team descended in a submarine to collect samples of the liquid that bubbles
from the Lost City sea vents. Upon analysis, Proskurowski and his team
discovered that the liquid that contained natural gas and the building blocks
for oil, hydrocarbons. However, the hydrocarbons from the Lost City sea vents
contained carbon-13 isotopes. They found no evidence of carbon-12, the carbon
isotope typically associated with biological origin. Proskurowski and his team
postulated that the hydrocarbons found in the Lost City sea vents were formed
from the mantle of the Earth through an abiotic process of Fischer-Tropsh (FTT)
reactions, and not from biological material that had settled on the ocean


During the German Nazi regime, Nazi
scientists developed FTT equations that could produce synthetic oil from coal
and contributed to the world’s understanding of an abiotic process of oil
production. Proskurowski also discovered that the methane in Lost City
contained no carbon-14, which also lent enormous credence to the scientists’ hypothesis
that the carbon source for the hydrocarbons of the Lost City vents came from
within the earth’s mantle, far away from organisms that might have had contact
with the global carbon cycle at the surface. In other words, the Lost City
vents contained organic material formed by inorganic processes, the exact
antithesis of how the fossil fuel theory postulates that oil is formed. Before
Proskurowski’s study, Cornell University physicist Thomas Gold had argued in
his book "The Deep Hot Biosphere: The Myth of Fossil Fuels" that
micro-organisms found in oil were possibly produced in the mantle of the earth.


Again, as I stated before, before one
can ever trust information that is so widely accepted, one has to find its
source. The problem today is that the vast majority of people are just too lazy
to ever question the source even though when one finds the source, the source
often has multiple ulterior motives for producing its information. As a
consequence of this intelligence inertia, the public-at-large has become
extremely prone to blindly and very dangerously accepting any information as
fact as long as it is printed in a “credible newspaper” or it is spoken on a
credible television news station.” In 1956, M. King Hubbert coined the term
peak oil”. In 1975 Hubbert himself predicted a worldwide crisis in oil by 1999
or 2000. Even though this did not occur, this did not discredit the peak oil
theory whatsoever.


Of course, the question that
immediately surfaces is this. Why would the banking cartel want you to believe
that the oil is a fossil fuel if it is not? Here is the answer. If bankers
could successfully sell the world the idea that oil was a byproduct of a
process that involved hundreds of thousands of year or millions of years of anaerobic decomposition of buried
dead organisms, then it would become infinitely easier to sell the world on the
idea of peak oil and manipulate the price of oil. It is extremely difficult to
manipulate the price of a commodity if everyone believes that its supply is
abundant. So step back for a second, take a deep breath and let’s consider the
logical arguments for/against the fossil fuel theory of oil production and
for/against the abiotic theory of oil production. Is not a theory that proposes
that the process to form oil would take not decades, not centuries, but
MILLIONS of years through the decomposition of fossilized remains a theory that resides on the furthest edge of the spectrum of speculation? After all,
testing this theory would take millions of years for this is how long this
theory’s process presupposes is the necessary timetable for the formation of oil.  Proposing that we know for certain that
the process to form oil takes hundreds of thousands or millions of years seems far more absurd to me
than the alternate theory of abiotic oil, where scientific evidence supports that
the carbon found in the building blocks of oil are not formed from the
decomposition of fossilized remains.


In regard to oil, F. William Engdahl
continues, “It’s a controlled market — this is not a free market! Energy is
probably the most controlled market in the world, food being second.”
with this point, I respectfully disagree with Mr. Engdahl. In my opinion, money
is the most controlled market in the world, with food and energy tied for


When considering the possibility that
the banking cartel had created a lie about the real oil supply and was
responsible for a potentially fake fossil fuel theory, my thoughts inevitably
led me to questions regarding the US – Iraqi war.  In fact, the US military’s invention in Iraq and the Bush
administration’s invention of WMDs to justify military intervention almost seem
to validate the Peak Oil theory. After all, why would America need to capture
strategic control over the Middle East’s oil supply if oil was not a scarce
resource but replenished quite abundantly by an abiotic process? I struggled
with this question until I asked myself the following two questions, two
questions that should always be asked before accepting the validity of any
theory propagated by an authoritative source:

(1) Who is the source of this
information?, and

(2) If the information is a lie, who benefits from the lie?

To question (1), most people already
know that the Peak Oil Theory originated with M. King Hubbert. But can most
people answer the question, “Who was M. King Hubbert?” M. King Hubbert was a
geoscientist who worked at the Shell research lab in Houston, Texas. His biography
provided by Wikipedia, is as follows:


“M.King Hubbert worked as an
assistant geologist for the Amerada Petroleum Company for two years while
pursuing his Ph.D., additionally teaching geophysics at Columbia University.
He also served as a senior analyst at the Board of Economic Warfare. He joined the Shell Oil Company in 1943, retiring
from that firm in 1964. After he retired from Shell, he became a senior
research geophysicist
for the United States Geological Survey until his retirement in 1976. He also held
positions as a professor of geology and geophysics at Stanford University
from 1963 to 1968, and as a professor at UC Berkeley
from 1973 to 1976.”


A few months back, I produced a video
series about the principles of ideological subversion
that emphasized the essential
role of education in the widespread acceptance of false ideas into the
mainstream belief system.  Hubbert
certainly fits the bill here as he was granted numerous opportunities to spread
his Peak Oil theories to the masses through his professorships at the top US
universities of Columbia, Stanford and UC Berkeley. After Hubbert’s death, Matt
Simmons, a Houston oil banker and decades-long friend of former US Vice
President Dick Cheney, was able to leverage Hubbert’s peak oil theory to
crystallize a global belief in the limited global supply of oil before he
eventually turned whistleblower on British Petroleum during the BP Gulf of
Mexico oil disaster, and was discredited himself before dying under
questionable circumstances in 2010. Simmons was George W. Bush’s energy
adviser, a member of the National Petroleum Council and also a member of the
secretive, powerful Council on Foreign Relations.


Thus we’ve established that the oil
industry and bankers were the source of the Peak Oil theory as well as the
impetus behind propelling the theory into prominent global attention. Now let’s
turn our attention to question (2). Who benefited the most from the Peak Oil
theory and the War in Iraq? Again, the top beneficiaries of the Peak Oil theory
and the War in Iraq were, and still are, oil producers and bankers. Why are
bankers at the top of the list of beneficiaries of the war, you ask? It’s a
simple equation. The US Federal Reserve creates money to fund the war and lends
it to the American government. The American government in turn must pay
interest on the money they borrow from the Central Bank to fund the war. The
greater the war appropriations, the greater the profits are for bankers.


As I’ve only researched the abiotic
theory a little over a month in preparation for this article, I am certainly
not an expert on this theory. However, I think I’ve raised enough questions
that should raise reasonable doubts regarding the possibility that bankers may
just be providing false oil supply numbers to manipulate the oil price for
personal gain. With that thought in mind, let’s turn our attention to

Food & Money – The Two Commodities
Bankers Use to Induce Subservience in the Masses


The price of the world’s food
staples, such as rice, corn, wheat and soybeans have recently been soaring. In
April, 2010, the media reported that "As rice prices soar toward $1,000 a ton, governments across Asia brace
for possible unrest as the region's staple food becomes less affordable and
less available."
Paul Risley, the United Nations World Food Program's
spokesman in Asia, says some of the 28 million "poorest of the poor"
it feeds could go hungry because the agency cannot afford to buy many of the
world’s staple grains.


corn, the staple food of Central America and Mexico, also has soared in price
in recent weeks. The US Department of Agriculture, in releasing its monthly
crop report last Friday, revised its forecast for the US corn crop downwards by
12.6 million tonnes, or 3.9 per cent, to 321.7 million tonnes.  According to CBH Group's wheat trading
manager, Chris Brown, the USDA’s revision was the largest monthly revision for
corn crop supplies ever. "Never
before has the USDA moved the corn yield down by such an amount
," Mr.
Brown said. In addition,
prices of other staple crops such as wheat and soybeans have also been rising with
tremendous rapidity in recent weeks.



On May 6, 2009, I wrote an article on
my blog, the Underground Investor, called “Hundreds of Millions May Face Starvation
in the next 5-10 Years”
to call attention to the ongoing plans of Central
Bankers all around the world to severely devalue global currencies.

Back then, I wrote:

“Of the current 6.5 billion people in
this world, 50%, or 3.25 billion, live on a daily wage of $2 that has not
changed in years, despite the fact that significant erosion in the purchasing
power of these $2 over the past decade. In turn, the billions of people that
subsist on $2 a day spend $1 on food daily. Simple math dictates that if the
price of basic diet staples in the developing world (rice, corn, wheat, etc.
but specifically rice) rises to $2 or $3 a day or more, more than 3 billion
people will no longer just be hungry, but will begin to die from


Though I wrote the above 18 months
ago, that article was wholly ignored by all the media sources that regularly
reprint my articles. Today, the situation I warned of above, is in essence what
is beginning to materialize. Though mass starvation has not yet happened today,
it could become a serious problem in the next five years at the rate Central
Banks are devaluing the world’s major currencies. Today, the Food and
Agriculture Organization of the United Nations estimates that 925 million people
go hungry every single day
. This alarming number is essentially the number of people
on the fringe of survival and a fair estimate of the at-risk-for-starvation
population if prices of the world’s basic food staples continue to soar. Today,
the major media has just started to label the global monetary crisis as a
“currency war” with recently dated origins. But that simply is not reality. The
currency war between East and West has been occurring behind the scenes for a
minimum of several years now. 
Nothing as severe as a global monetary crisis develops overnight and the
world’s leading economies have been aware of this currency crisis for many
years now.


So what is the real cause of soaring
food prices? In Thailand, the leading rice-exporting country in the world, Korbsook Iamsuri, the secretary-general of the
country's rice exporters association, stated, “Don't forget that we grow twice
as much as we need domestically, that's why we have so much to export. And all
of a sudden everything's gone, so I do not believe that that is the actual
situation we're facing."
Mr. Iamsuri blamed much of the soaring rice prices
on farmers’ hoarding behavior which he stated was creating an artificial supply
squeeze. Yes, it is not just the banker’s fault that food prices are rising so
rapidly. Drought, flooding, inclement weather conditions, greed-driven hoarding
behavior of traders and producers, rising input prices spurred by rising oil
prices, and crop failure in some regions of the world all contribute to rising
food prices. However, some of these other determinants of rising food prices,
like rising oil prices and hoarding behavior, are also indirectly attributable
to banking monetary policies.  But
what about the supply numbers of staple crops? Are they trustworthy? Since we
have learned that government supply statistics regarding the commodities of
gold and oil are 100% unverifiable, should we blindly believe the “official”
government statistics regarding crop supplies? I suggest that we should


Remember the two questions that we
should always ask before accepting the validity of any theory propagated by an
authoritative source:

(1) Who is the source of this information?, and

(2) If the
information is a lie, who benefits from the lie?


Today, global rice stocks have
been reported at a two-decade low. And corn prices surged again on Friday after
a new report from the United States Agriculture Department claimed that this
year’s corn crop would be smaller than expected. December corn futures on the
Chicago Board of Trade reached a high of $5.84 a bushel in trading on Tuesday,
October 12, an astonishing 70% increase in prices from the $3.43 a bushel price
just 3 ½ months earlier. Even though CBH Group's wheat trading manager, Chris
Brown, made the USDA forecast for the coming corn harvest sound catastrophic - "Never before has the USDA moved the corn yield down by such an amount”
the REALITY of that soundbite designed to move corn prices higher, is much less
dramatic. The USDA forecast, on a year-over-year basis, only forecast a 3% drop
from the prior-year record level corn harvest. Thus, the true question becomes,
“How can a projected 3% drop from a RECORD crop yield produce a 70% spike in
the  price of corn futures in about
100 days?


Again, if we look at the sources of
food supply numbers, we uncover some answers. Industry trade organizations
release the overwhelming number of estimates that warn of short or waning food
supplies.  And with all other
commodities we’ve discussed in this article, if these supply estimates are
untruthful, the industry and bankers are the parties that benefit from these
numbers the most. I am not saying unequivocally that numbers regarding the world's food supplies are lies, but I am saying that we need to consider this possibility. Many of the numbers that move the prices of the world's agricultural commodities are based upon estimates of future yields, that when realized, reveal the estimates to be wildly incorrect. Furthermore, not only do bankers profit tremendously from
volatile price swings in the world’s leading crops through participation in
agricultural futures markets, but bankers also tremendously benefit in a
secondary manner that is hidden from the public. If the public believes that
soaring food prices are simply due to bad weather, bad yields and alternate
uses of food (i.e. corn produced for ethanol), by drawing attention TO these
factors as the major cause of rising food prices, bankers successfully draw
attention AWAY from what I believe is, and will continue to be, the largest
component of higher food prices by an overwhelming margin- the Central Banking
monetary policies of devaluing global currencies. 


If bankers, through a massive
propaganda campaign, can get people to forget about the fact that food prices
are soaring because they are devaluing all major global fiat currencies, then
they are likely to avoid blame in what I see as an impending and inevitable
global food crisis.  Yes, I know
that bankers are not the ONLY reason food prices are soaring and I’ve stated
other factors that contribute to rising food prices above. But even when they
aren’t directly responsible for rising food prices, they often are still
indirectly responsible. For example, the greedy hoarding behavior of commodity
traders or farmers is almost entirely driven by the recognition that food
prices in the future will be much higher due to the Central Bank’s current
campaign of massive currency devaluation. 
Without the reality of currency debasement, the different players
involved in setting global food prices (which also includes bankers) would not
be hoarding food supplies right now that could instead be feeding people at
cheaper prices. And Central Banking currency devaluation policies encourage
hoarding not just with agricultural commodities, but with many other
commodities as well. For example, when oil traders anticipated huge swings
higher in oil prices, they have been known to rent massive supertankers to buy
and store oil cheaply in order to sell it at much higher prices later.


Currencies – Debt or Asset?


Since I’ve written about the
commodity of currencies prolifically for more than five years now in the public
realm, and because most people already recognize that 98% of paper money does
not exist but as a digital representation in our physical world, I am going to
keep my commentary about fiat currencies quite sparse.  By definition, a Central Bank exists to
manipulate currency valuations and to prevent free markets from operating. The
two statements that I reprinted below are the only two statements you need to
read to understand that bankers have created our current global monetary system
for the sole purpose of manipulating and controlling the wealth of nations.


"If all the bank loans were
paid, no one could have a bank deposit, and there would not be a dollar of coin
or currency in circulation. This is a staggering thought. We are completely
dependent on the commercial Banks. Someone has to borrow every dollar we have
in circulation, cash or credit. If the Banks create ample synthetic money we
are prosperous; if not, we starve. We are absolutely without a permanent money
system. When one gets a complete grasp of the picture, the tragic absurdity of
our hopeless position is almost incredible, but there it is. It is the most
important subject intelligent persons can investigate and reflect upon. It is
so important that our present civilization may collapse unless it becomes
widely understood and the defects remedied very soon."
- Robert H.
Hemphill, Credit Manager of the Federal Reserve Bank of Atlanta, 1935.


In 1942, Federal Reserve Chairman
Marriner Eccles testified before the House Committee on Banking and Currency,
that “if there were no debts in our money system, there wouldn't be any


As the above
statements were respectively issued in 1935 and 1942, it is obvious that the
goal of bankers, for decades and centuries now, has been to destroy and control
people through the issuance of money as debt.
after reading the above statements, you are still fuzzy over the rationale why
Central Bankers have 100% complete control over the purchasing power and store
of value of those digital credits in your bank account, you may watch this
video about the harmful effects of currency debasement to lend some clarity to that issue.



Education – Essential…for Brainwashing Only


I will appropriately conclude this
article about the banker-created Empire of Illusion with a discussion of how
even the institution of education has been transformed into a commodity. This
month, Bloomberg Businessweek reported that “a third of the top 30 U.S.
business schools became less selective when admitting applicants to their
full-time MBA programs in 2010.
Consequently, with education, when the going gets tough, the tough get,
well, they get easier. Academic institutions are now willing to compromise
their reputation and standards and admit less qualified candidates in an effort to keep their
bottom-line numbers intact.


If you are a recent high school graduate
considering entering university today, a young college graduate considering
entering an MBA program today, or a parent with a child that is facing either
of these two scenarios, as you conclude this article, it should be clearly
apparent by now that:


(1) A young adult will never learn the mechanisms behind how the real
business world operates within the confines of a traditional academic
institution, and

(2) Given today’s economic environment, postponing or never pursing a
formal academic degree may be the smartest choice one can make


Final World


I have always said, both privately
and even publicly on my company’s website, that understanding fraud will
contribute much more insight to the world of investing than the study of any
“official” numbers and statistics released by corporations and governments.
Today, more than ever, I believe that an understanding of the fraud and rigging
games of bankers is not only essential to anyone interested in investing in
capital markets today, but that it is also 100% necessary to survive the
growing global monetary crisis during the next 5 to 10 years.




About the Author: JS Kim is the
Managing Director of SmartKnowledgeU, a fiercely independent investment
research and consulting firm dedicated to helping Main Street beat the fraud of
Wall Street.  JS earned his
undergrad degree from the University of Pennsylvania and a double Masters in
Business Administration and Public Policy from the University of Texas at
Austin. However, JS credits the bulk of his knowledge about how the investment
industry really works not to these two institutions of academia, but almost
solely to his two decades of self-study. Dissatisfied with the rampant
corruption and fraud he witnessed in the commercial banking & investment
industry, JS permanently walked away from Wall Street in 2005 to start his own
firm.  Since launching his Crisis
Investment Opportunities newsletter
in 2007, JS has helped investors achieve
more than 137% returns from June, 2007 to October, 2010 (in a tax-deferred










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Triggernometry's picture

I agree that supply/demand is rarely present in its pure form, but then again all textbooks are filled with idealized relationships which often require highly restrictive assumptions be made. Holding degrees in mech eng and astrophysics does not make me smarter, does leave me with the perception of just how tiny our planet is. Regardless of how oil is formed(not created), population driven demand will at some outpace production/extraction resulting in a noticeable inflection point, as it should be obvious supply and demand do not share parallel slopes. As for gold, the physics tell us the amount of gold on the planet is increasing for the time being. This is because elements heavier than gold decay into gold faster that gold decays to lighter elements(just comparing half-lives here). This does not mean gold will be cheaper or easier to find; however it should be reasonable to expect cost of extraction/refinement increase or decrease in proportion to the amount of energy required, thus population driven energy demand will take its toll on precious metals, as well as all other commodities inclusive of food. I don't mean to get long winded, the article makes great points about questioning the shit we're fed since birth; but the limiting reagent in commodities pricing over the long term is ultimately population, as it can set demand up parabolically across the board. By all measures, whether poverty, hunger, or climate change(human energy pollution is completely disregarded), we seem on the brink of, if not past the maximum sustainable population. I am not suggesting population control(like China) or genocide, but it seems inevitable our species must tackle the problem in order to avoid undue mass suffering.

sbenard's picture

Did anyone actually read this ENTIRE article, every word of it? I don't have that kind of time to spend on on article.

That said, I was fascinated by the "abiotic theory of oil production". This make sense to me.

If I were God and was creating a world, by whatever means He does it, I would create it in such a way as to provide energy resources that were enough and to spare for the needs of all those souls that would one day occupy that space. It is the only way that would be just and fair to all his spirit children. Thus, having energy resources that are regenerative in nature makes perfect sense.

MarketFox's picture

One of the major distortions in prices have to do with insurance against big bets....

The insurance can add up to several times the actual underlying asset market price....and herewithin lies a good portion of today's problems....

There should be stipulations as to a total market having not to exceed ie 1.1x the underlying value including insurances....

Look into this further....JS....

I like the way your mind gets from point A to point B....

strannick's picture

Yeah, the peroration was almost as long as the article.

Hook Line and Sphincter's picture

Words that speak to the omnipotence of the Fed and their handlers. Groveling and murmuring partial secrets of the ultimate conman who has God-like qualities. So much intelligence here at Zerohedge, but so little who speak about this particular subject with fortified authority. Unbalances me and dangerously increases my need for satisfaction when I find myself restricted from embracing and understanding the boogieman's specific nature.

My arrogance is bruised.

The WHY is easy for me, but come on...

WHO, specifically, are they? WHAT are the hidden rules of the con?

WHERE does the world find them?

Is there a one of them who has defected from their ranks? 

The best I can do is walk by the three card monte and refuse to play? When I see a scam it infuriates me. I hate to admit it, but it's because it lights an inferno against my ego. There are plenty of knuckles out there in need of some fresh scrapes.

Is the only way to fight their con, their unbridled evil, their true and unparalleled rebellion a change of soul? Where is the fun in that?

Sometimes I find myself angry that I'm not one of them, even though its the last thing my spirit would allow. My arrogance rivals theirs. Their knowledge I covet. Their soul I understand. 

And to contemplate, if I can't grasp what should be a simple con because of the collective cognitive dissonance (including my own) that resides here, then what else of importance am I blinded to? What can't I see? 

It shouldn't be so hard. You see I know I'm blind, so I scrambled clumsily up to the mountain top. Someone shout back to me.

Red Shield's picture

If the banking cartel prefers to spike prices when faced with excess supply in order to create artificial demand via hoarding, then it makes sense that oil is continually created, just like crops are continually grown in seasons. I believe that oil is created, and seeps through ancient cracks in the mantle caused by comet collisions long ago. In addition, I belive that oil is created in seasons, like crops, and that growth is determined by the activity of the sun. During the 11 year solar cycle, when the earth's magnetic fields are relaxed during a solar minimum, more high energy rays are allowed to penetrate the magnetic shield, which then penetrates deeper into the earth, charging the earth in a way, thus creating a bumper crop of oil. Incedentally, that solor minimum occurred right around the time that oil began fluctuating like crazy, indicating that there was a pending supply glut that needed to be worked out and sold off via some heavy hoarding and wasting. I also believe that the occurence of the Gulf and Michigan spills (among others) this summer were caused by underlying pressure from within the supply line at the source, which broke old pipes not designed to handle an increase in pressure due to a growing supply from within.

I believe that people have been trained and conditioned to pay extra for resources at times when they are most abundant and readily collected so as to create a type of opposite syndrome, wherein people subconscously do the opposite of what is good for them, which is evident in the way people enmasse choose to eat and live on a daily basis, which has led to a cancer epidemic and extensive growth in healthcare needs, which is exactly why Obama had to make healthcare a major focus (and legal requirement) in the middle of a major recession.

Humans are the latest seasonal crop to be harvested via hospitals, and there is no doubt that they are abundant in supply.

chopper read's picture

interesting take; that is 'thinking outside of the box'.  you're nuts.  I like it. 

Problem Is's picture

Although I like and try to support posts that expose propaganda and question the myth narratives that control society with +5's...

This one is just too long and convoluted to be effective.

You could:

  1. Edit out about 10k words...
  2. Get to your point much more quickly...
  3. The first 5 paragraphs are redundant and some what unnecessary... (See [2] Get to the point...)
  4. Drop the siamese twins analogy... It is known as a symbiotic relationship.

In the words of some basketball player who won 11 championship rings in 13 years:

"Good idear, bad execution."

Cognitive Dissonance's picture

Edit out about 10k words...

The word count was only 8,385.

But hey, who's counting, right? :>)

kridkrid's picture

Or he could have just posted this:


"If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." - Robert H. Hemphill, Credit Manager of the Federal Reserve Bank of Atlanta, 1935.


In 1942, Federal Reserve Chairman Marriner Eccles testified before the House Committee on Banking and Currency, that “if there were no debts in our money system, there wouldn't be any money."

And included two graphs... one that shows the expansion of private and public debt and one that shows the growth of M3.  Two graphs, two different sources, exactly the same.


Downtoolong's picture

Last year I made the painful effort to actually read through industry testimonials in a series of CFTC hearings on the oil price shocks of 2007-2008. Two things about the hearings struck me as odd:


1)      Among the 16 presenters at the hearings, most were from the banking and investment community. There were only two presenters involved in the physical oil and gas industry, and the largest of those two derived most of its income from oil trading vs. production. The other representative from the physical oil industry was a heating oil distributor from Vermont.

2)      All of the presenters from the banking and investment community argued vehemently that speculation was necessary for oil markets to function efficiently. Yet, all of them insisted that neither they nor their clients engaged in significant speculation. (who knew there were so many dentists and members of the AARP investment club trading oil futures on the NYMEX).        

Yorick7's picture

While I agree there is a certain amount of fraud in the world by human nature and that life is not fair, and by the way not just in finance, I'm sorry but I have to dismiss this article with all due respect as a tin foil hat wearing conspiracy rant.

MagicHandPuppet's picture

Ha ha ha... Yorick, you are an idiot... with all due respect, of course.

Yorick7's picture

Nice, I'm an idiot.    Why?

Cognitive Dissonance's picture

With all due respect, I think you've got the wrong guy. This idiot is Yorick7.

snowball777's picture

+1  Good intentions, but unhinged nonetheless.

Oracle of Kypseli's picture

I am challenging anyone to try and manipulate used car prices, cement, gravel and the like.

You can manipulate paper assets and promissory notes, but not physical anything.

Take any commodity and only apply physical purchaces and you are guaranteed a supply and demand prices +or - storage and carrying charges.

Have a nice day. Legislate derivatives out of existence and you got yourself an honest market.

Hedging of commodities should only be allowed by professionals in this business. Miners in mining commodities, farmers in food commodities etc. general public has no business in speculating in any of these.



chopper read's picture

with whom would these 'professionals' hedge?

bada boom's picture

I bet you I could if I was the Fed.

Cognitive Dissonance's picture

Thank God you were able to sweep it all away as just another "tin foil hat wearing conspiracy rant". Good for you.

We now return you to your regularly scheduled programming already in progress.

Cognitive Dissonance's picture

I have always said, both privately and even publicly on my company’s website, that understanding fraud will contribute much more insight to the world of investing than the study of any “official” numbers and statistics released by corporations and governments. Today, more than ever, I believe that an understanding of the fraud and rigging games of bankers is not only essential to anyone interested in investing in capital markets today, but that it is also 100% necessary to survive the growing global monetary crisis during the next 5 to 10 years.

Bingo! Give this man a cigar and more space to post. While many here on ZH are calling for a "collapse" this huge Ponzi has a long way to go before The Great Unwind. The survivors will be those who see with clear eyes and self imposed blinders removed.

Chartist's picture

If you think the middle east is a powder keg now, imagine if oil was really priced by supply and demand rather than the artificial support I believe it gets now...

stumpydoo5's picture

Question: Does it matter how long the oil production process takes?  What matters is the rate at which it is created, and the rate at which it is extracted and burned.  I agree with the gist of the manipulation.

LowProfile's picture

Well, the FREE MARKET should answer that for us...

Oh, wait...

hbjork1's picture

I am confused.  Somehow when I subtract 1642 from 1758 I keep getting 116 instead of 200. 


Space Monkey's picture

Read carefully:

...Galileo was declared guilty of being “vehemently suspect of heresy” and was imprisoned from 1633 until his death in 1642. It was not until 1758, more than 200 years after the death of Copernicus, that the Church finally revoked a general ban on all books...