GATA Chairman Murphy interviewed on national radio in Australia


10:32p ET Saturday, November 24, 2001

Dear Friend of GATA and Gold:

One of GATA's first and more generous supporters, the
internationally known novelist Arthur Hailey, is striking
another blow for the gold cause with the paperback
republication by Berkley Books of "The Moneychangers."

Hailey's publicist, Diane Phillips of Diane Phillips &
Associates of Nassau, Bahamas, has provided a couple
of press releases about Hailey and his book. They may
be especially interesting to you because of the book's
advocacy of a return to gold-backed currencies, so I'm
appending them here.

You can see photos of Hailey and his wife, Sheila, at
the Internet site of The Bahamas News here:

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

* * *

Announcement of Republication of
"The Moneychangers" by Arthur Hailey

Twenty-five years after it was first published and became an
overnight success, Arthur Hailey's "The Moneychangers" is
being re-released in paperback by Berkley Books. The book
that Business Week called "absolutely delicious ... really
hard to put down," rocked the banking world, exposing a level
of greed that permeated nearly every sector of banking from
back room to boardroom.

In a new foreword by the author, Hailey poses the question:
"Financially and banking-wise, have things changed since
my quarter century old novel?" His answer: "Absolutely! It's
a virtual certainty that they are now much worse, and the
amounts of money involved and endangered substantially

"The Moneychangers" follows the path of two characters
jockeying for position as chairman of an established bank
when its founder dies. Decisions endangering clients'
money are made to boost one competitor's chances with
rippling effects. Characters are threatened, jailed,
displaced. Decisions prompted by ambition teeter atop a
company with links to the bank, cross directorships -- a
financial house of cards.

For Hailey, the author of such best-sellers as "Hotel,"
"Airport," "Wheels," "In High Places," "Overload,"
"The Evening News," and most recently "Detective," the
significance of the book lies not only in exposing the
cavalier means by which bankers' decisions are often
made but by revealing the fragility of an economy based
on paper printed like "toilet tissue" with no gold backing.

In a passage of the book as controversial and
thought-provoking today as it was a quarter of a century
ago, a financial analyst screams the need to return to
gold: "Gold, as a base, once more, for the world's money
systems. Gold, the oldest, the only bastion of monetary
integrity. Gold, the one source, incorruptible, of fiscal
discipline. Gold, which politicians cannot print which,
because of its severely limited supply, establishes its
own real, lasting value."

Like Hailey's other tales that take readers behind the
scenes, "The Moneychangers" is a good read into uncomfortable
territory - the mysterious world of banking -- revealing the
cracks of the brick and mortar facade of one of the sacrosanct
industries in any nation.

Hailey's books have sold more than 170 million copies and
been translated into 38 languages.

* * *

Rediscovering Arthur Hailey:
Where Is One of the World's Best-Selling Authors?

By Diane Phillips

Where is Arthur Hailey, the author who took readers on a
fast-paced journey behind the scenes and through the maze
of American institutions for three decades, exploring and
exposing the intricacies and inner workings of what makes
commerce click in books like "Airport," "Hotel," "Wheels,"
"In High Places," "Strong Medicine," "Overload," "The
Evening News," and "Detective"?

Readers grabbed his books, more than 170 million of
them, and gobbled his words, translated into 38 languages.
On the eve of the much-anticipated re-release of "The
Moneychangers," with a new foreword by the author, we
take a look at the life and lifelong love of one of the most
popular authors of all time.

* * *

The phone rang in Arthur and Sheila Hailey's home in the
Bahamas. It was The National Post -- a kind of tabloid-y,
Psychology Today, and very-now web site all mixed together
-- in Canada. Would Arthur, author of best-sellers that
toppled records and led to movies, now 81 years old, consider
writing a piece called "The Perfect Woman"?

Hailey's first inclination was to chuckle, his second to
decline. But then again, the piece could -- just could --
provide the opportunity to discuss some of his favorite
topics -- the joy of finding the most near-perfect person,
the lessons you learn looking back through a rear-view
mirror of marriage, the need for fun and laughter. And so
he wrote:

"That perfect (read, near-perfect) woman should possess a
basic conviction that life is interesting, frequently funny,
is best when lived to the full, and for all those reasons,
should mainly be enjoyed. ... Another quality required by the
perfect woman and shared with her man is erudition, which is
not necessarily education, though that helps. Real practical
erudition is knowledge and interest about what is happening
in the world and why, accompanied by a willingness to travel
-- at risk, if needed -- all the time learning more, to
relocate in other countries if appropriate, and to participate
in local events, and even change nationalities if that seems
a good idea."

Congratulations, Arthur Hailey -- you have just summed up
your wife, Sheila. The perfect woman (pardon us; near-perfect)
is not a figment of Arthur Hailey's still-vivid imagination.
She's not a character in one of his books (though the observant
reader will notice that all his major female characters are sexy
and smart and have a soft heart camouflaged by a tough exterior).
She's his life-mate, editor, his toughest critic, his greatest

To understand Arthur Hailey, or at least the last 50 or so years
of his development, you have to know Sheila and the dynamics
of their devotion, mutual annoyance, humor, infidelities, and
over, under and around it all, their love.

"It's not been easy," Sheila confides, "but our life together
has never been dull." Says Arthur: "We have very disparate
talents; we fill in each other's blanks."

For the first 14 years of their marriage, the Haileys lived in
Toronto and they retain Canadian and British citizenship. Then,
on a research trip to California for his novel "Airport" he
found himself in the beautiful Napa Valley and, impulsively,
decided that this is where the Hailey family should live. A
perfect place for writing, an idyllic country life, with the
excitement of San Francisco not too far away.He bought a
hillside lot within 24 hours of his arrival, then wired Sheila
the good news.

"I thought he'd lost his marbles.The children were happy in
their schools, I had a weekly segment on a daytime television
show, which I loved, and I had just finished re-upholstering
two chairs at our summer cottage. My heart sank.But then, in
a few days, my natural optimism kicked in and I said to myself:
"Hmm ... California. That doesn't sound too bad."

"While our new home was being built, we rented a small
house tucked away in the hills, accessible only by a bumpy,
tortuous road that no garbage truck would be fool enough to
travel. I was the one who had to haul the groceries in and
take the garbage out to the local dump.One time I rebelled
and let the garbage pile up outside.Finally, after an ugly
fight, Arthur agreed to take it with me to the dump -- only
to find the place was closed for lunch.

"By that time we were at each other's throats again. During
the long trek back home we spotted a real live garbage truck
coming toward us.We stopped as soon as we could, turned
around, then raced to catch up with the driver, and our luck
turned.On the way back we began laughing aloud -- two adults
acting like small children. At home we showered and had a
good lunch.Arthur even broke out a bottle of wine. Then we
went to bed, made love, and had a nap."

Such has been the story of their marriage. Arthur, the
fastidious, the dedicated, the disciplined when it comes to
writing. The man who spends an average of three years on
every book, the first in research, going behind the scenes,
learning everything he can about the inside operation of his

For "The Moneychangers," he got permission from two major
banks to study their back rooms, even to sit in on a board
meeting. (Hailey takes the learning end of writing so seriously
that in 1986, at the age of 66, as he was researching "The
Evening News," he participated in a terrorism escape course
in England, putting himself through the rigors and tortures of
everything from being held captive to eating a frog to survive,
disarming the enemy to engaging in close quarter battle). Then
he spends six months to a year working on the book's
outline, developing chapters and characters and assembling
his research materials, sometimes filling an entire filing
cabinet drawer. The third year he spends writing, never an
easy task for the man who says he bleeds a few words at a
time, agonizing over every sentence.

For all his success, Arthur Hailey remains a humble man from
a humble background.

Born in Luton, England, in 1920, he left school at age 14
because in those days it was necessary to pay to go to high
school, and his working-class parents -- particularly his
ambitious mother who wanted the best for her only child --
simply couldn't afford that. Instead, she scrimped and saved
so Arthur could have shorthand and typing lessons.

In 1939, at the outbreak of war in Europe, Arthur Hailey
enlisted in the British Royal Air Force and was refused
pilot training because of his lack of higher education. Later,
however, he did become a pilot and an officer, commissioned
from the ranks. He served overseas and during his final two
years with the RAF was a Staff Officer at Air Ministry in

After the war Hailey returned to Canada where he had trained
as a pilot and fallen in love with the country. There, in 1949,
he met Sheila, who had recently emigrated from England
and was working in the stenographic department of the
same magazine publishers after failing to land a writing job.
She transcribed and typed his dictated letters and, after the
first batch, he sent her a short note complimenting her on
her accurate typing -- not an auspicious beginning to one
of the world's great love stories, but an indication to Sheila
as she looked back on it of how much perfection meant to
the endless pursuer of it, the man who would be her
husband for more than 50 years.

Through the years, Hailey sold real estate, was editor of a
business magazine, wrote freelance technical articles and
was an advertising executive.

He was on a flight between Vancouver and Toronto one Friday
night when the idea for his first play came to him. What would
happen, he wondered, if both pilots became ill at the same
time? What could cause such a thing to happen? Would food
poisoning be a possibility? By the time the plane landed, the
play had written itself in his head, right from the food
(choice of steak or fish, both pilots chose fish) to what
happened to passengers. The story became an internationally
successful TV drama, "Flight into Danger," and later both a
movie and book, and "live" TV. Its success launched Hailey's
early writing career in television drama for it was in the
days when such programs were at their zenith. Audiences
looked forward to Sunday nights and real life dramatic shows,
and Hailey was always a hit.

As books followed one after another almost in a three to
four-year pattern, Arthur Hailey's fascination with technology
continually grew. He has often said that with more early
education he would have become an electrical engineer. His
study in Lyford Cay, where Sheila and he have made their
home for more than 32 years is a reflection of that interest
-- cable channels for all computer cords under the carpet
long before such things were dreamed of, a flat-screen
monitor that was one of the first built, and, unlike some
writers who have not made the adjustment to an electronic
age, Hailey relies heavily on the internet and the world of
research material it offers. He e-mails friends, family, and
business associates regularly, continues to read four
newspapers a day, and is determined to spread the
message about the importance of gold-backed currencies.

"Gold is the only honest money," he says. "At this point, a
wise thing to do is buy gold shares. Although some are
speculating that gold will go to $1,000 an ounce or more, I
believe that a reasonable estimate of the price of gold in
the near future is $600."

No matter how much Hailey earns, he is not likely to trade
his 12-year-old Japanese car in for a new model. After all,
like everything else he does, he has looked after it
perfectly, and it's in superb condition.


If you benefit from GATA's dispatches, please consider
making a financial contribution. GATA welcomes
contributions as follows.

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Gold Anti-Trust Action Committee Inc.
c/o Chris Powell, Secretary/Treasurer
7 Villa Louisa Road
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Discover) over the Internet:

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Bank routing number 211-170-185
For account number 9500-574-053

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Gold Anti-Trust Action Committee Inc.
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