Rarebird, you and Hutch are having a fair amount of difficulty
in understanding the conception that resulted in the formation
of GATA, the Gold Anti Trust Action organization. I hope the
following information obtained from their web site helps.
Much has happened since the following information was released,
so I will seek out an more updated version for your reading. Doug
Gold Anti Trust Action (GATA) gata.org
Bill Murphy, Chairman
The Gold Anti-Trust Action Committee was organized in January 1999
as a Delaware corporation to advocate and undertake litigation against
illegal collusion to control the price and supply of certain financial
securities, particularly securities involving gold.
The committee arose from essays by Bill Murphy, a financial commentator,
and by Chris Powell, a newspaper editor in Connecticut, published at
Bill Murphy's Internet site, lemetropolecafe.com
Bill Murphy's essays reported evidence of collusion among financial
institutions to control the price of gold.
Chris Powell, whose newspaper had been involved in antitrust litigation,
replied with an essay proposing that gold interests should act on Murphy's
essays by bringing suit against the financial institutions involved in
the collusion against gold.
The response to these essays from gold interests throughout the world was
so favorable that the committee was formed. Murphy is chairman and Powell
is secretary/treasurer.
The committee is raising money and recruiting a law firm for the lawsuit
it advocates.
GATA also seeks to disclose and publicize the huge speculative short
positions in gold taken by financial institutions and bullion banks.
GATA believes that 10,000 tons of gold or more have been sold short
by these speculators, even as yearly mine supply of gold in 1998 was
only 2,529 tons. When, through our lawsuit, we are able to show how
short in gold even one major financial institution really is, other
institutions will buy gold in quantity, knowing the short position
in gold is too large to close without causing a substantial rise
in the price of gold.
Then the gold collusion game will be over.
Copyright (C) 1999 All rights reserved. |
