GNN - Gata Nut News Huge Breaking pro-Gold News
Its letter/e-mail writing aTime again 4aChange. dougak
"... ruling is basically symbolic
"... that would change under legislation introduced
"... The legislation has a long way to go before
making into law, which appears unlikely.....
"... similar bill introduced last year only won
the approval of the Senate Judiciary Committee,
never making it to the full Senate and
House of Representatives for a final vote."
Subj: U.S. Court Slaps Price Fixing Injunction on OPEC
Date: 4/2/01
From: LePatron@LeMetropoleCafe.com
Le Metropole Members,
U.S. Court Slaps Price Fixing Injunction on OPEC
NEW YORK, Apr 2 (Reuters) -
A U.S. federal court has granted a one-year injunction
barring oil producer group OPEC from fixing prices,
court documents showed.
Prewitt Enterprises won a civil anti-trust case
in an Alabama court, accusing the Organisation
of the Petroleum Exporting Countries of conspiring
to fix oil prices through oil supply agreements.
OPEC is for the next year "restrained from entering
any agreements among themselves or with third parties
to raise, lower, or otherwise determine volumes of
production and export of crude oil," Senior U.S.
District Judge Charles Weiner ruled March 21.
OPEC made successive cuts in production through
1998 and 1999 that pushed crude oil prices to
their high level since the Gulf War and lifted
gasoline pump prices to record highs.
The ruling is basically symbolic as federal law
currently prevents OPEC,
as well as other sovereign nations,
from being sued.
However, that would change under legislation introduced
last Friday in the U.S. Senate which would give U.S.
antitrust regulators authority to sue OPEC for fixing
prices and setting production levels for crude oil.
The bill puts pressure on OPEC not to restrict oil
supplies by giving the U.S. government the legal
authority to bring an antitrust enforcement action
against foreign states engaging in anti-competitive
conduct with regard to oil and other petroleum products.
"For years, this conspiracy has unfairly driven up
the cost of imported oil to the satisfy the greed
of the oil exporters," said Democratic Sen. Herbert Kohl
of Wisconsin, one of the bill's co-sponsors.
"Such blatantly anti-competitive action by the oil cartel
violates the most basic principles of fair competition
and free markets and should not be tolerated," he said.
The legislation has a long way to go before making
into law, which appears unlikely. A similar bill
introduced last year only won the approval of the
Senate Judiciary Committee, never making it to the
full Senate and House of Representatives for a final vote.
If found guilty of price fixing by a U.S. court,
the legislation would allow the U.S. government
to seize the assets of OPEC nations held in the
United States.
The bill would also give federal district courts
the jurisdiction and authority to consider such cases
brought by the Justice Department or the Federal Trade
Commission.
-END-
Delight of the day.
Just substitute Gold Cartel for OPEC in this Reuters article.
The United States and the bullion banks mentioned
in Reg Howe's Complaint are guilty of the most heinous,
outrageous, price-fixing, and collusive activities of all time.
Their fraudulent maneuvers have severely and negatively
affected the economies of many of the natural resource
countries around the world.
Now, our own U.S. courts are attempting to stop oil rich
natural resource countries from conspiring to fix prices.
So be it!
What is good for the goose is good for the gander.
The Federal Judge in Massachusetts Federal District Court
that is hearing the Howe/GATA Complaint should be aware
of this U.S. court ruling in this civil anti-trust case.
Let us get it on and get into the discovery process with
The Gold Cartel so that the truth about the gold market may prevail.
BILL MURPHY
CHAIRMAN
GOLD ANTI-TRUST ACTION COMMITTEE
Le Patron www.LeMetropoleCafe.com |
