(GATA News) ...open letter at gata.org under "What's New."
Hopefully the news media will pick this up as a possible scandal ripe for
the picking, and they will all hurry scurry to try and be the first to
uncover the dirt and broadcast it first and get a rating boost so that
they can charge more money for commercial time. Sad to say, but those in
the media that commands most of the viewing public's attention have
already been "silenced" by the big money companies that do not want the
beans to be spilled, else lose commercial time payments.
So looks like the off the beaten track news groups have handed to them
on a silve/golden platter the "Big Prize Scoop" available.
First Come - First Served - Whole Lot of Chit Available. DougAK
Subj: GATA Press Release / Request for Internet Email Action to Congress
Date: 12/8/99 7:11:27 PM EST
From: LePatron@LeMetropoleCafe.com
To: dougak
Le Metropole members,
GATA's Left Flank goes into an all out attack mode with guns blazing
tomorrow against the forces that have been holding down the gold price.
The following Business Wire press release goes out tomorrow at 5 AM:
Gold Anti-Trust Action Committee Sends Open Letter
to Alan Greenspan and Lawrence Summers in Roll Call Magazine.
What Are You Doing With America's Gold?
Dallas, Texas - December 9, 1999
Bill Murphy, Chairman of The Gold Anti-Trust Action
Committee announced today from his Dallas, Texas
headquarters that GATA sent a center spread, open
letter to Alan Greenspan, Chairman of the Federal
Reserve System and to Lawrence Summers, Secretary
of the Treasury, in today's Roll Call Magazine.
Roll Call is widely regarded as the leading publication
for Congressional news and information and is the hometown
paper for the most powerful readership in the world.
Roll Call is hand delivered to each office in the House
and Senate and a White House courier is sent to retrieve
400 copies for top administration officials.
The entire open letter may be read at gata.org under "What's New."
Murphy remarked, "Ever since Chairman Greenspan made
the following statement before the House Banking Committee
on July 24, 1998:"Central banks stand ready to lease gold
in increasing quantities should the price rise,"
there has been a growing controversy about whether
the Federal Reserve and or the Treasury Department
have been actively involved in the gold market."
"The Federal Reserve Bank's Open Market Committee
may have the authority to deal in gold coin and bullion,
but all purchases and sales, according to 12 USC 263-359,
"shall be governed with a view to accommodating commerce
and business." If, rather, the Federal Reserve Bank or the
Treasury Department is depressing the gold price in order
to help various and numerous gold short sellers, it is a
clear and illegal violation of the bank's purpose clause,"
Murphy claims.
Chris Powell, GATA Secretary/Treasurer added,
"If the Federal Reserve intervened in the gold market after
the October price rise as Chairman Greenspan said central
banks were prepared to do, it was not to accommodate
commerce and business, but to accommodate one half
of the parties to a private contract who had shorted gold.
For the U.S. central bank to use its powers to benefit one
class of citizens to the harm of another class of Americans
is a gross violation of the Constitution's equal protection clause."
Former Treasury/Justice Department Attorney and GATA Committee
member, Ethan Stroud, also states," If the Federal Reserve Bank
or the Treasury Department is in fact selling gold,
lending gold or writing gold calls to rescue the folly
of the gold shorts, such action is contrary to their statutory clause,
illegal, despicable public policy and contrary to the national interest.
The manipulation of the gold market has caused irreparable harm to gold
owners, gold companies and gold miners as well as all Americans."
To clear up this matter, The Gold-Anti Trust Action
Committee asked for the answers to 11 specific questions
from the U.S. Federal Reserve and U.S. Treasury pertaining
to the orchestration of the gold market. The questions are
along the line of, "Have the Fed, the Treasury, or any other
government agency, either directly or through their
management of foreign custody accounts, collaborated with
the Bank for International Settlements, the Bank of England,
or any other central bank with a view to managing, smoothing,
or otherwise affecting the market price of gold?"
The Gold-Anti Trust Action Committee also says that there
is also growing concern that U.S. gold reserves have been
lent or sold. Those gold reserves are a great national
financial asset, yet they have not been audited officially
since the Eisenhower Administration. So in addition to
answering the 11 questions, GATA is asking for an
independent audit so that the country may be assured
that its gold remains in public hands.
End.
Contact: BILL MURPHY, CHAIRMAN, GOLD
ANTI-TRUST ACTION COMMITTEE,
LePatron@LeMetropoleCafe.com
GATA hopes that all those interested in free markets will alert
their Congressmen and Senators to the open letter to Greenspan
and Summers in Roll Call.
It will be on their desks in the morning.
Here are the web sites to email the House and Senate:
Congress e-mail directory:
webslingerz.com
Senate:
earthlaw.org
To find the addresses and phones for Congressmen by typing in a zip code:
vote-smart.org
All the best,
Bill Murphy
For new readers, the above mention of GATA is as follows.
Bill Murphy, Chairman, Gold Anti Trust Action (GATA) gata.org
Also, GATA related articles can be obtained at the pay for view site.
Bill Murphy, Le Patron, Le Metropole Cafe lemetropolecafe.com |
