Mark Hulbert: A golden wall of worry

Section:

GATA Chairman Bill Murphy Challenges
Dennis Gartman to Debate Gold Price Manipulation

A Statement by GATA Chairman Bill Murphy
Thursday, January 6, 2005

http://home.businesswire.com/portal/site/google/index.jsp?
ndmViewId=news_view&newsId=20050106005419&newsLang=en

For almost six years Dennis Gartman of The Gartman Letter
has attacked the Gold Anti-Trust Action Committee to
placate his establishment clients in high finance.

From The Gartman Letter of January 5, 2004:

"... The GATA folks are again aflame as they blame the (gold)
weakness upon various market machinations by governments
and large Wall Street organizations. This is utter nonsense, of
course, but we shall never be able to convince GATA of that
fact. ... Even if it is not nonsense, even if GATA were truly
on to something, we should care not a whit for the market
will move where the market needs to move. The gold
market had become far too heavily invested-in by the public,
and those public investors have to be taken out."

From the Gartman Letter of April 13, 1999, with gold at
$283.30:

"... We note that Gold Field Mineral Services Ltd., perhaps
the most influential research group in the precious metals
industry, has openly condemned the proposed lawsuit and
investigation against the U,S, government and the world's
largest gold trading organizations that the Gold Anti-Trust
Action Committee (GATA) is proceeding with as
composed of 'rather exaggerated ideas.' We concur
completely. "

Since 1999 GATA has been explaining why the gold price
was where it was and where it was going, publicizing
enormous evidence of manipulation of the gold price by
central banks and the investment houses they favor, which
include The Gartman Letter's clients.

So I challenge Dennis Gartman to a public debate on the
gold market. Because he may need help with this issue, I
will allow him an assistant from the World Gold Council
or some other apologist for the Gold Cartel.

I propose we have our debate at the Washington Press
Club, where, on July 24, 2002, GATA held a press
conference that was televised by C-SPAN. GATA will
cover the costs of the event.

Bill Murphy, Chairman
Gold Anti-Trust Action Committee Inc.

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

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

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