You are here

New commentary by Reg Howe at Golden Sextant

Section: Daily Dispatches

3:27p ET Monday, April 21, 2003

Dear Friend of GATA and Gold:

GATA consultant James Turk, editor of the Freemarket
Gold amp; Money Report and founder of GoldMoney, whose
investigative reporting and accounting exposed U.S.
government intervention in the gold market, has
uncovered more documentation of that intervention and,
perhaps more important, strong evidence that the
governments that have been intervening against gold
are running out of metal.

Turk's findings can be found in a new essay, titled
quot;More Proof,quot; posted at the GATA Internet site here:

a href=http://www.gata.org/MoreProof.htmlhttp://www.gata.org/MoreProof.html/a

Examining reports from British Customs and the Federal
Reserve Bank of New York, Turk has found that the
the British and U.S. governments ALONE have likely
dishoarded nearly 7,300 tonnes of gold in the last
decade, far more gold than the 5,000 tonnes in
dishoarded gold from central banks worldwide that
has been estimated by the industry's standard but
unreliable reference, Gold Fields Mineral Services.
Using data issued by other central banks, Turk
concludes that when all central bank dishoarding
is counted, the worldwide total probably approaches
the 15,000-tonnes figure offered by the research of
GATA's other consultants, Frank Veneroso and Reg
Howe, who came to their conclusions by different
methods.

Perhaps of more immediate interest, the documents
discovered by Turk disclose a sudden sharp reduction
of gold dishoarding in 2002 that corresponds with the
rise in the gold price. He writes:quot;The 2002 gold flows
indicate that the tide has turned against the central
bankers, which is a result also confirmed by the rising
gold price last year.quot;

In short, Turk has disclosed powerful additional
evidence that central banks are running out of gold
and are less able to suppress the price. He concludes:
quot;Gold will again soar just as it did after the last
manipulation scheme failed in 1971.quot;

Ninety-nine percent of what is published about the
gold market is mere speculation and rumor at best
and disinformation at worst. Maybe 1 percent of it
is documented and verifiable, and, thanks to Turk,
Veneroso, and Howe, the world gets that from GATA.

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

----------------------------------------------------

To subscribe to GATA's dispatches, send an e-mail to:

gata-subscribe@yahoogroups.com

To unsubscribe, send an e-mail to:

gata-unsubscribe@yahoogroups.com

----------------------------------------------------

RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS

Free sites:

a href=http://www.jsmineset.comhttp://www.jsmineset.com/a

a href=http://www.mineweb.com/http://www.mineweb.com//a

a href=http://www.gold-eagle.com/http://www.gold-eagle.com//a

a href=http://www.kitco.com/http://www.kitco.com//a

a href=http://www.usagold.com/http://www.usagold.com//a

a href=http://www.GoldSeek.com/http://www.GoldSeek.com//a

a href=http://www.goldenbar.com/http://www.goldenbar.com//a

a href=http://www.silver-investor.comhttp://www.silver-investor.com/a

a href=http://www.thebulliondesk.com/http://www.thebulliondesk.com//a

a href=http://www.sharelynx.nethttp://www.sharelynx.net/a

a href=http://www.mininglife.com/http://www.mininglife.com//a

a href=http://www.financialsense.comhttp://www.financialsense.com/a

a href=http://www.goldensextant.comhttp://www.goldensextant.com/a

a href=http://www.goldismoney.info/index.htmlhttp://www.goldismoney.info/index....

a href=http://www.depression2.tvhttp://www.depression2.tv/a

a href=http://www.minersmanual.com/minernews.htmlhttp://www.minersmanual.com/mi...

Subscription site:

a href=http://www.lemetropolecafe.com/http://www.lemetropolecafe.com//a

Eagle Ranch discussion site:

a href=http://os2eagle.net/checksum.htmhttp://os2eagle.net/checksum.htm/a

----------------------------------------------------

COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS

Centennial Precious Metals
3033 East 1st Ave.
Suite 403
Denver, Colorado 80206
www.USAGold.com
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
cpm@usagold.com

Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
www.ColoradoGold.com
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net

Investment Rarities Inc.
7850 Metro Parkwa
Minneapolis, Minnesota 55425
a href=http://www.gloomdoom.comhttp://www.gloomdoom.com/a
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com

Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
www.certifiedcoins.com
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com

Miles Franklin Ltd.
3015 Ottawa Ave. South
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
a href=http://www.milesfranklin.comhttp://www.milesfranklin.com/a
Contacts: David Schectman,
Andy Schectman, and Bob Sichel

Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com

Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
a href=http://www.buycoin.comhttp://www.buycoin.com/a
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
figoldstein@buycoin.com

----------------------------------------------------

HOW TO HELP GATA

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

By check:

Gold Anti-Trust Action Committee Inc.
c/o Chris Powell, Secretary/Treasurer
7 Villa Louisa Road
Manchester, CT 06043-7541
USA

By credit card (MasterCard, Visa, and
Discover) over the Internet:

a href=http://www.gata.org/creditcard.htmlhttp://www.gata.org/creditcard.html/a

By GoldMoney:

a href=http://www.GoldMoney.comhttp://www.GoldMoney.com/a
Gold Anti-Trust Action Committee Inc.
Holding number 50-08-58-L

Donors of $750 or more will, upon request,
be sent a print of Alain Despert's colorful
painting symbolizing our cause, titled quot;GATA.quot;

GATA is a civil rights and educational
organization under the U.S. Internal Revenue
Code and contributions to it are tax-deductible
in the United States.