Legal papers against BIS are served in German


11:03p ET Wednesday, January 9, 2002

Dear Friend of GATA and Gold:

A GATA supporter has sent the letter below to
U.S. Sen. Paul Sarbanes, chairman of the
Senate Banking Committee, along with a copy
of GATA consultant James Turk's latest essay
documenting surreptitious U.S. government
intervention in the gold market. It's a good
model for other letters. We ask our U.S.
supporters to consider sending such letters
to their two U.S. senators and U.S.
representative. You can find Turk's essay

Thanks so much to our good friend for taking
the time to write. If we make enough noise, we
WILL be heard!

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

* * *

U.S. Senator Paul S. Sarbanes, Chairman
Senate Committee on Banking,
Housing, and Urban Affairs
309 Hart Senate Office Building
Washington, D.C. 20510

Dear Chairman Sarbanes:

In your role overseeing banking, commodities,
and monetary policy, I'd like to bring to
your attention the attached analysis by James
Turk. He examines Treasury Department and
Federal Reserve activities as they relate to
the safeguarding of our publicly-owned gold.
If the author is right, and other precious
metals analysts support his contentions, our
gold is neither safe nor owned.

Mr. Turk reports his recent discovery that
Congress need not be consulted (let alone
asked to approve) when Treasury's Exchange
Stabilization Fund deals in gold. While this
is disappointing to know, it is disturbing to
consider how far the ESF has gone to keep its
work hidden from scrutiny. Even worse, it is
frightening to ponder the real possibility
that the nation's gold, still our implied
financial foundation, no longer belongs to

I respectfully ask you to investigate whether
a fraud has been committed in violation of
public trust, specifically regarding:

* Anti-trust implications of the ESF's
secretive dealings in gold.

* The Federal Reserve's complicity in
manipulating the gold market.

* Whether false or misleading statements have
been issued by these agencies.

* True and unambiguous ownership of gold
bullion in our national vaults.

Thank you very much, and I look forward to
hearing the results of your inquiry.


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