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To: Lalit Jain who wrote (40220)	9/12/1999 6:31:00 PM
From: P P Bravo	Read Replies (1) \| Respond to of 116759

City: Lawyer probes Clinton gold claims Source: The Sunday Telegraph London ONE of America's most senior lawyers has been hired to investigate unfounded allegations on the internet that Hillary Clinton made huge profits from the recent slump in the price of gold The US Gold Anti Trust Action Committee (GATAC) has hired one of America's biggest anti-trust law firms to investigate allegations that a blind trust set up for America's First Lady "shorted gold financial instruments" just before the the Bank of England's announcement of gold sales on May 7. The announcement caused a slump in the gold price. The allegation - uncluttered by fact and bare of supporting evidence - surfaced on a US website for financial market aficionadoes last weekend. "If true", said Bill Murphy, GATAC's chairman, "it is an outrage and is further anecdotal evidence of the conspiratorial nature of the Bank of England gold sales and of the high level nature of the manipulation of the gold market." GATAC has retained the Philadelphia firm of Berger & Montague to investigate the rumours. The lawyer on the case is Jerome Marcus, described by Murphy as "the silent brains" behind the Paula Jones case for five years. Marcus said: "We have just begun our inquiries and there is little as yet to report. Even if there was any transaction through a blind trust this would raise questions of credibility. These people all know each other. It is very tantalising but we have to establish first whether it happened." The allegation is the latest twist in a series of wild conspiracy theories claiming massive gold market manipulation, and doubtless the fact that Clinton's recent down payment for a new home in Westchester County, New York, came from her blind trust will further fuel imaginations. GATAC has been campaigning for months for a halt to IMF and central bank gold sales and for an investigation into alleged gold market manipulation. Murphy has written to Senator Phil Gramm, chairman of the Senate Banking Committee. His 21-page letter is testimony, if nothing else, to the fact that nothing and no-one is being ruled out in GATAC's global hunt for gold market manipulators. This year the price of gold has fallen from more than $280 an ounce to $256.65 now, the bulk of this fall coming after the surprise announcement by Gordon Brown of a programme of Bank of England gold sales. The first of these auctions was held in July, and the second is due next week. (Copyright 1999 (c) The Telegraph plc, London)

To: Lalit Jain who wrote (40220)	9/13/1999 10:20:00 AM
From: Alex	Respond to of 116759

UK gold sales 'mishandled' <Picture> The Treasury has decided overseas bonds are a better investment <Picture> The UK Treasury's plans to stage another auction of its gold reserves next week have come under fire from investment bankers and leading figures in the precious metals industry. <Picture><Picture>The BBC's Mary Gahan: "Gold industry fears further fall in price"One of London's oldest and most respected investment banks, NM Rothschild, says the Treasury is wrong to auction the gold itself rather than using the traditional method of sale, in which the bullion banks match buyers and sellers and fix a daily price. The Treasury announced earlier in the year that it would be selling 415 tonnes of gold, and held the first of a series of bi-monthly auctions of 25 tonnes in July. The second is due to take place next Tuesday, 21 September. Rothschild's director Clive Turner says the auctions are depressing prices, and that the established methods have a more subtle effect on the market. The industry has also criticised the Treasury, saying the price of gold is likely to fall again. The sale in July has been blamed for helping to push it to its lowest level for 21 years. Gold producers have complained that they are being put out of business but financial analysts have pointed out that there are sound reasons for the Treasury's strategy. At a time of low inflation, it is transferring reserves held in an asset, gold, which is yielding very little return into overseas bonds, which are producing healthy returns. news.bbc.co.uk