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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Bill Murphy who wrote (4620)3/20/1999 1:28:00 PM
From: Pete Schueler  Read Replies (2) of 82007
 
Bill,

I have no doubt that you are leading this cause because you're "mad as hell and won't take it any more" and not to get rich by creating and milking a goldbug's war fund. I, like you, have the same sense that there is an orchestrated effort to keep the POG down. Most of us welcome you as our Don Quixote who will tilt at the windmills of corruption.

I have no problem with a grass roots effort to right a wrong. That is the classic American way. GATA could be the start of something very big. If it does get big you will need an organization and a structure to control a large operation. This may take an experienced professional or two. If GATA fizzles then some folks will want to know where their money went. So as a minimum, keep good books.

I think you should cover your out of pocket expenses for GATA activities out of the contributions. As for compensation beyond that I would say that you might consider a reserve "set aside" to which you would be entitled as GATA reaches certain milestones, ie. pay for performance. It is time to think some of these things out before you go too much further.

The attorney's fees will no doubt be in the range you suggested. This will demand more than the contributions you can expect from a dwindling number of goldbugs whose fortunes haven't fared the best in recent times. This will require major corporate sponsorship if it is to gather the needed funds. I suggest that you establish a corporate donation formula based on ozs au produced, say $.10/oz. This will create a level that is reasonable and fair. By this formula you would have your war chest with donations from producers of 1000 tons.

These are just some ideas that you may find useful.

Thanks and keep up the good work Pete
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