New York Sun: U.S. default has already happened -- twice


10:58p AEST Monday, October 14, 2013

Dear Friend of GATA and Gold:

An editorial in the New York Sun notes the irony in the urging of the managing director of the International Monetary Fund, Christine Lagarde, for the United States to take on more debt while the IMF used to urge other countries to get their financial affairs in order by reducing debt.

But the Sun's really profound observation is that the U.S. government's default on its debt is not an imminent risk but rather is settled history.

The Sun writes: "Instead of a budget deal, America could step up to monetary reform. It could stop all the pretense that there'll be a default. What's needed is recognition that the default already happened. It happened in 1971. It happened again in the past decade. The value of the dollar, once regulated by the Congress by law at a 35th of an ounce of gold, has seesawed wildly, eventually plunging to below a 1,900th of an ounce of gold. It is, at the moment, lurking under a 1,250th of an ounce of gold. The troubles we've been going through, in other words, are not the forerunner of default. They are the consequences of default."

The Sun's editorial is headlined "Lagarde Lectures Her Owner" and it's posted here:

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


Jim Sinclair Plans Seminar in Washington on Oct. 19

Gold mining entrepreneur and gold advocate Jim Sinclair will hold a seminar with questions and answers on Saturday, October 19, at a hotel at the international airport for Washington, D.C. To register for the seminar and learn more about it, including the discounted rate available at the hotel, please visit Sinclair's Internet site, JSMineSet, here:

Gold Investment Symposium 2013
Luna Park Conference Center, Sydney, Australia
Wednesday-Thursday, October 16-17, 2013

The Silver Summit
Davenport Hotel, Spokane, Washington
Thursday-Friday, October 24-25, 2013

Mines and Money Australia
Melbourne Conference and Exhibition Centre
Tuesday, October 29-Friday, November 1, 2013

New Orleans Investment Conference
Sunday-Wednesday, November 10-13, 2013
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana

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How to profit with silver --
and which stocks to buy now

Future Money Trends is offering a special 16-page silver report with our forecast for 2013 that includes profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million.

Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets.

To learn about this report, please visit: