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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (66897)	4/2/2001 9:43:34 PM
From: d:oug	Read Replies (1) \| Respond to of 116767

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