You are here

Gold certificates aren''t gold, but allocated gold is a lot closer

Section: Daily Dispatches

1:19a ET Saturday, June 7, 2003

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy is off trying to rally the
gold army at Cambridge House International's World Gold,
PGM, and Diamond Investment Conference in Vancouver
and has left your correspondent alone with the e-mail
server and the liquor cabinet. As proof that I have
tried to spend more time with the former, appended here
are links to a lot of interesting gold-related
commentaries of the past week or so.

* * *

Jim Sinclair's June 6 commentaries argue that the Federal
Reserve may be jawboning in favor of inflation but it's
not enough when the Exchange Stabilization Fund is still
intervening surreptitiously to prop up the dollar:

a href=http://www.jsmineset.com/s/Home.asphttp://www.jsmineset.com/s/Home.asp/a

CBSMarketWatch's Thom Calandra sees gold's price
doubling by the end of the year:

a href=http://cbs.marketwatch.com/news/story.asp?guid=%7B0066FB1A%2D0C2D%http:/...
2D46CD%2DA24D%2DFD57406591E7%7Damp;siteid=mktw

Or try this abbreviated link:

a href=http://ls.shapebyforce.com/sbf/197http://ls.shapebyforce.com/sbf/197/a

Writing in Forbes, Susan Kitchens doesn't think gold is
going much farther:

a href=http://www.forbes.com/global/2003/0609/041.htmlhttp://www.forbes.com/glo...

Paul A. McCulley, managing director of Pimco, writes that
the Federal Reserve really is committed to driving the
dollar down:

quot;To reverse deflationary expectations, a central bank must
credibly commit to pursuing a higher inflation rate. Note, I
said 'credibly.' Reflating is all about convincing the public
to believe that their cash really will be turned into trash,
inducing them to spend their cash to buy things -- goods,
service, and assets -- before it loses value, in the process
generating rising inflation.quot;

a href=http://www.pimco.com/ca/bonds_commentary_fedfocus_recent_index_bottom_ht...
archive.htm

Or try this abbreviated link:

a href=http://ls.shapebyforce.com/sbf/198http://ls.shapebyforce.com/sbf/198/a

Charles V. Zehren warns that having attracted so much
foreign capital may not be a blessing to the United States
much longer, now that the Asian countries that hold 95
percent of the world's trade surplus are contemplating
diversifying their foreign exchange reserves:

www.newsday.com/business/printedition/ny-
zehren3299011may25,0,7939281.story

Or try this abbreviated link:

a href=http://ls.shapebyforce.com/sbf/199http://ls.shapebyforce.com/sbf/199/a

Sean Corrigan of Capital Insight observes at Gold-Eagle
that quot;infinite moneyquot; -- as when central banks drive
interest rates down near zero -- is not really infinite
wealth:

a href=http://www.gold-eagle.com/gold_digest_03/corrigan060403.htmlhttp://www.g...

Or as Kipling put it in rhyme:

In the Carboniferous Epoch
we were promised abundance for all,
By robbing selected Peter
to pay for collective Paul;
But though we had plenty of money,
there was nothing our money could buy,
And the Gods of the Copybook Headings said:
quot;If you don't work you die.quot;

* * *

Now, where DID Murphy leave the key to the cabinet?
... Ohmigod -- he took it all with him!

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://moneyfiles.org/http://moneyfiles.org//a

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

a href=http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.htmlhttp://ww...

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.