Updated link to Rick Ackerman commentary


9:12a Tuesday, July 1, 2003

Dear Friend of GATA and Gold:

The most enthusiastic endorsement of gold's future
has just been issued by Rick Ackerman of Black Box
Forecasts, whose commentary has been published
widely in newspapers in San Francisco. An excerpt:

"I will not elaborate here on why money is no longer
money, but rather a form of debt. But suffice it to
say, the implications of a fundamentally valueless
global currency system could only be hugely bullish
for gold.....

"I cannot say it often enough, or stridently enough,
but here it is one more time: Gold is the no-brainer
investment of our lifetime. Moreover, it offers an
opportunity to leverage the destructive force of a
millennial deflation that is certain to devastate
the net worth of millions of investors, as well as
to ravage valuations across a broad swath of asset
classes. Let me go on record as having begged you
to move immediately into gold, perhaps with 10-20
percent of your investment capital.

"Meanwhile, do not be fooled by the occasional
downdrafts in the price of gold on futures markets.
These swoons are manipulated or technical events
that are largely meaningless within a much bigger
picture. And such fright-mask feints, it must be
noted, are no longer receiving the concurrence of
some gold stocks such as Newmont Mining and Royal
Gold, which continue to rise even on days when
bullion prices are weak."

Ackerman's commentary can be found here:


CHRIS POWELL, Secretary/Treasurer