Denials of a Conspiracy Are Proof that One Exists

Sep. 6, 2019
Bob Adelmann

The success (or failure) of a conspiracy is the degree to which people are persuaded that one doesn't exist. That's what upset Adam Posen the most about William Dudley's exposure of the innermost workings of the Federal Reserve in his op-ed at Bloomberg last week.

Posen scored Dudley for his intemperate and revealing article. He said his column was "horribly mistaken," adding that "It feeds conspiracy and it was totally irresponsible to talk that way."

Adam Posen is highly-regarded among his Deep State peers, having received his PhD in political economy and government from Harvard and then serving as a consultant to the International Monetary Fund (IMF), an economist at the Federal Reserve, a fellow at the Brookings Institute, and a voting member of the Monetary Policy Committee of the Bank of England.

Much better known, with equally strong ties to the Deep State, is Lawrence Summers. His credentials are impeccable: He is a graduate of UC-Berkeley who worked for Goldman Sachs for more than 20 years, a member of the Council on Foreign Relations, a member of the board of directors of the Bank for International Settlements (BIS) and the Committee on the Global Financial System, and serves as president of the Federal Reserve Bank of New York and vice-chairman of the Fed's Open Market Committee.

Dudley's opinion piece destroyed a pervasive myth that has hidden the Federal Reserve's agenda for decades, and the exposure of the deadly work of Deep State officials to bring the U.S. into a global economic and political system run by them. In essence Dudley urged the Fed not to lower interest rates but to keep them high in order to damage Trump's reelection chances.

Dudley's attempt on Wednesday to "clarify" his opinion piece served only to confirm the conspiracy, which has intended for decades to reduce America's economic and political influence in the world in order to merge it into a global government run by them.

Dudley confirmed that Trump is a disrupter and must be silenced: "President Trump's trade war with China [creates] increasing uncertainty about how global trading rules would evolve, what tariffs would be imposed, what changes firms might need to make to their global supply chains, and what the downside risks might be for the U.S. economy."

Translation: Trump's trade war is upsetting plans by the Deep State to continue the merger by his creating "increasing uncertainty about how trading rules would evolve." Before Trump, the Deep State was in charge of those evolving trading rules, allowing China to raise itself to First World status at the expense of the U.S. through its creation and management of the World Trade Organization (WTO), and pushing its agenda of globalization at the expense of national sovereignty across the globe.

If you enjoy the information on, you're sure to enjoy the McAlvany Intelligence Advisor, as well. You can test drive it by signing up for the McAlvany Intel Memo. You'll receive key excerpts from MIA each week, and best of all you can do so for FREE. Just sign up here.

Dudley reiterated his concern that if the Fed kowtowed to pressure from the president to continue reducing interest rates, it would strengthen (and not weaken) America's economy. Wrote Dudley in his "clarification": "In my judgment, there is a risk that the Fed, by easing [further], might encourage the president to take even more aggressive actions on trade."

But if the Fed resisted, wrote Dudley, then "the president might be more attentive to the risks the trade war poses to the U.S. economy" and would step back from their implementation.

Dudley considers Trump's election to a second term as a "threat" to the globalist agenda, couching it in terms that the Deep State would appreciate: "After all, Trump's reelection arguably presents a threat to the U.S. and global economy." It also "presents a threat … to the Fed's independence."

The "conspiracy" to which Posen referred came to light inadvertently in 1953 during a visit by Norman Dodd, chairman of a Congressional committee charged with investigating the anti-American actions of tax-free foundations, including the Ford Foundation. Dodd reported that Rowan Gaither, then head of the foundation, told him that "We here operate and control our grant-making power … so to alter life in the United States that it can be comfortably merged with the Soviet Union."

A lot of water has passed under that bridge, but the goal remains the same: Mr. Trump is a threat to their implementation of that goal.

Naturally, Dudley denies any such purpose or connection in his "clarification":

The article is mine and mine alone. Fed officials were not involved in any way. There is no "deep state" or conspiracy that I am part of. Fed officials are not using me as a vehicle to signal their unhappiness with the president's attacks on the central bank and on Chairman Powell.


An Ivy League graduate and former investment advisor, Bob is a regular contributor to The New American primarily on economics and politics. He can be reached at

Sources: What I Meant When I Said 'Don't Enable Trump' by William Dudley Dudley's original article: "The Fed Shouldn't Enable Donald Trump" Dudley: I picked a fight with Trump because the Fed didn't stand up for itself

The Washington Post: Ex-Fed official clarifies comments on Trump Norman Dodd's Testimony on Regionalism Lawrence Summers slams former top Fed official Dudley for essay on Trump

Background on Lawrence Summers

Background on Adam Posen

Add new comment

Plain text


McAlvany Weekly Commentary provides investors with valuable monetary, economic, geo-political and financial information that cannot be found on Wall Street. Your host David McAlvany presents a solid strategy of wealth preservation for your financial and retirement assets while living in an unstable economy.

Through its client focused, customized approach, MWM is committed to providing independent, well-researched, objective advice, and investment professionalism. At MWM, our client commitment is to preserve capital, manage risk, and grow your assets in an ever-changing global environment.

At International Collectors Associates (ICA), we specialize in the sale of bullion, semi-rare U.S. and European gold coins and secure offshore storage in Switzerland for your precious metals. Our highly trained and experienced advisors strive to help you in customizing solid strategies of wealth preservation for your financial and retirement assets.

McAlvany Financial Group

The McAlvany Financial Group has a contrarian, in-depth approach to its analysis, allowing the company to avoid decisions based on emotion, and thus combine maximum risk mitigation with consistent real growth for its clients’ investments. Integrity, attentiveness, and longevity have characterized the company’s client relationships since 1972.