Japan punishes Morgan Chase for manipulating bond prices


12:10p ET Wednesday, February 26, 2003

Dear Friend of GATA and Gold:

MineWeb today has an important news story by Tim
Wood disclosing some fascinating details of Newmont
Mining's hedging agreements with bullion banks. The
story suggests that bullion banking is under great
pressure and that Newmont is prepared to walk away
from a rich mine and leave it in bankruptcy if its
counterparties press too hard.

The story is headlined "Gold hedging brinksmanship
is here" and you can find it here:


Or try this abbreviated link:


CHRIS POWELL, Secretary/Treasurer