OPEC sharply reduces dollar exposure

Section:

11:33p ET Monday, December 6, 2004

Dear Friend of GATA and Gold:

If you've already helped GATA, please discard this
dispatch. (You know who you are, R.McD., J.G., D.S.,
J-P.S., H.B., M.K., M.R., J.P., H.S.P., and the
rest. ...)

If you have NOT helped GATA yet, please read on and
consider helping us now.

We're not very attentive to fund-raising and thus too
often have relied again and again on the same people.
But lately we've incurred some expenses that were
fairly substantial (for us) even as we haven't done
much to replenish our treasury.

Nor have we reminded our supporters that they can help
us greatly just by spreading the word of GATA's work --
by enlisting people to subscribe to our dispatches and
by posting our dispatches or links to our dispatches
on bulletin boards around the Internet.

So if you feel that you benefit from GATA's work, we
would be especially grateful at this time to receive
a financial contribution from you.

Donors of $775 or more will receive a print of Alain
Despert's colorful painting symbolizing our cause,
titled, appropriately enough, "GATA." You can view it
at the GATA Internet site's home page here:

http://www.gata.org/

Despert has been the artist for Absolut vodka and
is gaining an international reputation. Each print
of his "GATA" painting has been carefully reproduced
from the original, measures 20 1/2 by 32 inches, and
has been signed and numbered by the artist. After
January 1 getting a print will require a donation of
$1,000. (And who says there's no inflation?!) But
when gold breaks out and the rigging of the gold
market is acknowledged, these prints will be pieces
of history, mementoes of the struggle for creation of
a free market in the precious metals.

And now there is also special reward for donors of
$200 or more: a copy of "The ABCs of Gold Investing"
by Michael Kosares, proprietor of Centennial Precious
Metals in Denver and host of the invaluable USAGold
Forum on the Internet. There is no more insightful
analyst of the gold market than Kosares, and GATA
dispatches often have commandeered his observations
from the USAGold Forum:

http://www.usagold.com/cpmforum/

A summary of "The ABCs of Gold Investing" can be
found here:

http://www.abcs-of-gold-investing.com/

New and old gold partisans alike will learn from this
book, but even if you think you know everything about
gold, the book will make a great holiday gift and
financial survival guide for a friend or family member.

GATA has struck some hard blows against the bad guys,
as by our obtaining and distributing worldwide an
English translation of the speech of the deputy
chairman of the Central Bank of Russia, Oleg V.
Moshaiskov, to the July meeting of the London
Bullion Market Association in Moscow -- a speech the
LBMA suppressed because Moshaiskov hinted at his
agreement with GATA about the rigging of the gold
market.

This week GATA's consultant James Turk -- editor of
the Freemarket Gold & Money Report and founder of
GoldMoney -- exposed the double-counting of gold
bars in the World Gold Council's new exchange-traded
bullion fund, and GATA publicized it around the world
today with an international press release calling on
the council to answer some simple but specific
questions about the custodianship of the fund's gold.

The full scope of GATA's work was wonderfully
recognized this August by Sprott Asset Management's
John Embry and Andrew Hepburn with their report on
the rigging of the gold market, "Not Free, Not Fair:
The Long-Term Manipulation of the Gold Price." You
can find that report here:

http://www.gata.org/SprottNotFreeNotFair082404.pdf

Thanks to the Internet and our volunteer officers and
consultants, GATA can do a lot for free, but we need
to send our people to conferences, to do difficult
and sometimes expensive research, and to publicize
our findings and observations outside the Internet,
and that stuff and some ordinary operations of the
organization are NOT free. And now our treasury is
running low.

GATA is recognized as a tax-exempt educational and
civil rights organization in the United States -- we
recently passed a months-long review by the Internal
Revenue Service -- and contributions to us in the
United States are federally tax-deductible.

So if you haven't helped us already, please consider
helping us now. We need it urgently and we give value
for it. Indeed, with a tiny budget GATA does more for
gold in a week than the World Gold Council does for
gold in a year with a budget of $60 million or so.

Information on making contributions to GATA is
appended.

Thanks for your consideration.

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

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

HOW TO HELP GATA

* 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:

http://www.gata.org/creditcard.html

* By GoldMoney:

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

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

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