Worsening income inequality is fiat money's doing

Section:

5:30p ET Monday, September 26, 2011

Dear Friend of GATA and Gold:

Moneyweek columnist Dominic Frisby has done another short video raising what should be a pretty compelling question for adherents of Keynesian economics: How come income inequality keeps getting worse under such a system? Frisby's answer is that unlimited issuance of money inevitably favors those closest to the point of issuance: governments, banks, corporations, and those who already have wealth and thus more easily may be afforded credit.

One might go farther than that and argue that Keynesianism, claiming for government a virtually infinite power of money creation, thereby unleashes virtually infinite corruption, power corrupting and absolute power corrupting absolutely. That is, Keynesianism can work only in a world with perfect beings implementing it. Keynes himself may have departed for such a world but the rest of us are still here, and ... such a mess! And it isn't the fault of the Austrians. See:

http://www.gata.org/node/9973

Frisby's video is less than four minutes long. It's titled simply "Fiat Money" and you can find it at YouTube here:

http://www.youtube.com/watch?v=hx16a72j__8

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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Prophecy Platinum Drills 49.5 Meters Grading 1.27 g/t PGM+Au at Yukon Wellgreen Project

Company Press Release
August 22, 2011

Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces results from its 2011 drilling program for its first completed hole on the Wellgreen Project in the Yukon Territory, Canada.

Borehole WS11-184 encountered 472.6 meters of mineralization grading 0.43% nickel equivalent from surface to the footwall contact. Within this larger swath of mineralization the hole encountered 49.5 meters of 1.27 grams per ton platinum group metals plus gold, 0.71% nickel, and 0.45% copper (or 1.11% nickel equivalent).

The geology transitioned from blebby disseminated to net-textured to massive sulphide approaching the footwall contact grading 6.3% nickel, 1.7% copper, 2.7 grams per ton platinum, 1.6 grams per ton palladium, 0.17 grams per ton gold, and 3.4 grams per ton silver. The drilling zones and results are tabulated here, with more information:

http://www.prophecyplat.com/news_2011_aug22_prophecy_platinum_wellgreen_...



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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