To: Dave R. Webb who wrote (13 ) 5/16/2000 3:19:00 AM From: d:oug Respond to of 695
Dave, The Gold Anti-Trust Action Committee's open letter in the Washington D.C. RollCall newspaper could very well cause a sooner than later development into the importance and desirability of gold and other precious metals that represent a store of value or protection like insurance against a nation's currency. Unlike GATA's first open letter in RollCall, this one goes beyond a government conspiracy look-a-like and thusly being ignored along with the other "soup of the day" babble of men on street corners holding sign "Life Ended Yesterday." This one went outside the government into the place of big and powerful financial institutes & persons with the naming of names, and with a re-election "threat" to politicians. All in public, not on a "crackpot web site" nor on a "gatanut web site." If not addressed by those pointed to by GATA either thru legal action like a lawsuit or thru simple presenting facts to prove GATA has incorrect data, then its "guilty until proven innocent." Now the mainstream media has but no choice to look into this matter, as they know that all non mainstream reporters and investigators will be looking for The Big Story. Now all the mainstream media outlets having colluted together in an unwriten and unspoken agreement to leave untouched the big money and big power folks that they rub elbows with and toast drinks with at high societies parties, now the story will break sooner than later by a no name newspaper and they will be scooped and left holding a Freedom of the Press paper bag with a hole in it's bottom and their creditability will have fallen and disappeared as it washed down into a storm drain of a street gutter outside their work place. Might be a good idea to perk up the company web sitetyhee.com as it is only now a signal "hello" page. What was to be next year GATA has now made into a next month. [Start.] The Gold Anti-Trust Action Committee has concluded that the gold market is being recklessly manipulated and now poses a serious risk to the international financial system. Gold Anti-Trust Action Committee (GATA) ... off-balance-sheet gold derivative contracts on the books of Morgan Guaranty Trust Co. went from $18.36 billion to $38.1 billion in the last six months of 1999. ... far too big too be repaid back in a short time. ... Federal Reserve Chairman Alan Greenspan and Treasury Secretary Lawrence Summers ... have denied any direct involvement in the gold market ... But they have declined to address whether the Exchange Stabilization Fund, which is under the control of the treasury secretary, is being used to manipulate the price of gold. ... New York bullion banks, particularly Goldman Sachs, from which the immediate past treasury secretary, Robert Rubin, came to the Treasury Department, have moved to suppress the price of gold every time it has rallied over the last year... ... believes that U.S. government officials and these bullion banks have induced other governments to add gold supply to the physical market in recent years to suppress the price... ... this "gold carry trade" is a financial bonanza to a privileged few at the expense of the many... Suppressing the price of gold gives a false impression of the U.S. dollar's strength as an international reserve asset and a false reading of inflation in the United States... Massive amounts of derivatives are being used to suppress the gold price. If this situation is not corrected soon, there will be a gold derivative credit and default crisis of epic proportions that will threaten the solvency of the largest international banks and the world standing of the dollar... Gold Anti-Trust Action Committee (GATA) Suite 1203 4718 Cole Avenue Dallas, Texas 75205 gata.org Bill Murphy, Chairman, LePatron@LeMetropoleCafe.com Chris Powell, Secretary/Treasurer, GATAComm@aol.com Ethan Stroud, Attorney at law, former Justice Dept, Treasury Dept John Feather, Attorney at law, formerly legal staff, Federal Reserve Bank [End.]