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Shorts losing control of gold, silver futures markets, Turk tells King
10:46a ET Tuesday, July 26, 2011
Dear Friend of GATA and Gold (and Silver):
GoldMoney founder and GATA consultant James Turk tells King World News that the failure of the big shorts to get gold below $1,600 and silver below $40 on a futures options expiration day suggests that they're losing control. An excerpt from the interview is headlined "Asian Buying to Fuel Massive Short Squeeze in Gold" and you can find it at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/7/26_Tu...
Turk will speak at GATA's Gold Rush 2011 conference in London next week:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Can the Fed Get the U.S. Economy Under Control Without a Return to Gold?
Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, advises that reinstituting a classic gold standard would require the U.S. government to balance its budget and its current account.
In a telephone interview with the New York Times published July 23, Lehrman said, "The debts in the American banking system that were amassed simply would not have been feasible if you had direct convertibility of currency into gold."
Lehrman acknowledges that returning to a gold standard won't happen overnight. But, he says, it will happen "because the failure of all of the other approaches will become evident to the American people."
The Gold Standard Now adviser Jeffrey Bell, also interviewed by the Times, said, "The big question is whether the government and the Federal Reserve will be able to get the economy under control without a return to gold."
To read more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit:
http://www.thegoldstandardnow.org/gata
Join GATA here:
Gold Rush 2011
GATA's London Conference
Thursday-Saturday, August 4-6, 2011
Savoy Hotel, London, England
Toronto Resource Investment Conference
Thursday-Friday, September 15-16, 2011
Sheraton Toronto Centre
http://cambridgehouse.com/conference-details/toronto-resource-investment...
The Silver Summit
Thursday-Friday, October 20-21, 2011
Davenport Hotel, Spokane, Washington
http://cambridgehouse.com/conference-details/the-silver-summit-2011/48
New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2011
Hilton New Orelans Riverside Hotel
http://www.neworleansconference.com/
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https://www.amsterdamgold.eu/gata/index.asp?BiD=12
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http://gata.org/node/wallstreetjournal
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Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit,
Extending the Mineralization of the Southwest Vein on the Property
Company Press Release, October 27, 2010
VANCOUVER, British Columbia -- Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include:
-- Hole E10-66 intersected 17.4g gold/ton over 1.54 metres.
-- Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres.
-- Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre.
Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface.
"The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest."
For the company's full press release, please visit:
http://sonaresources.com/_resources/news/SONA_NR19_2010.pdf
