Gold Rush 21 adopts the Dawson Declaration


6p PT Monday, August 8, 2005

Dear Friend of GATA and Gold:

Gold Rush 21's first day went well, with presentations by
GATA Chairman Bill Murphy, "Gold Wars" author Ferdinand
Lips (a speech read by his partner at the Top-Gold Fund,
J.P. Schumacher), proprietor
Reginald H. Howe, Peter George of Trinity Holdings in
South Africa, market analyst Alf Field, Gordon Miller
of Simmer & Jack Mines in South Africa, Solari Inc.
President Catherine Austin Fitts, market analyst John
Brimelow, GoldMoney founder James Turk, and
GoldenSextant's Robert K. Landis.

Mexico's TV Azteca network was present and did
interviews for broadcast, as was the Canadian
Broadcasting Corp., which dispatched this morning
the story appended here.

There was a lot of discussion of GATA's future,
what the organization should do next, including
suggestions for the research and advocacy of a
post-Federal Reserve monetary system for the
United States.

More on all that later.

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

* * *

Gold-price conspiracy theorists meet in Dawson

From Canadian Broadcasting Corp.
Monday, August 8, 2005

Financiers from around the world are in Dawson City this week
talking about gold, and what they claim are government and bank
manipulations to keep the price of the precious metal low.

While it sounds like the purview of tinfoil-hat conspiracy
theorists, the Gold Anti-Trust Action Committee has respected
investment analysts and brokers as members, and has slowly been
gaining credibility in investment circles.

John Embry, who manages Canada's second-largest investment fund
specializing in gold and other precious metals, is a keynote speaker
at the meeting.

He says the United States and other Western countries have worked to
artificially depress the price of gold.

"The gold price is sort of what I call 'the canary in the coal
mine', with respect to the health of the financial system," says

"And they do not want the gold price rising to where it should be
because I think it would suggest to the public that things aren't as
quite as good as authorities are telling them."

Embry says the price of gold should be US$600-$700 an ounce, instead
of its current level of about US$400.

He says central banks have kept the price low by selling lots of
gold on paper.

Embry says if the owners ever decide they want the actual gold, it
would bring on a financial crisis.

He says in the meantime mining communities in the Yukon and around
the world are suffering because the price is lower than it should be.

But Paul van Eeden, a gold analyst and researcher, says it's an
artificially strong American dollar that's preventing the price of
gold from taking off.

Investors were purchsing U.S. bonds, depressing the price of gold,
he says. "Just because they want to accumulate the interest and hold
their assets in bonds doesn't mean there was a conspiracy against
gold," he says. "And it is irrelevant whether they all believed it,
or som believed it more than others, their actions were that of
entitites acting out of self interest, and that isn't manipulation."

Van Eeden says the U.S. dollar still has a major decline ahead of
it, somewhere in the order of 20 or 30 percent, "and that decline in
the U.S. is what will make the U.S. dollar gold price rise from $440
an ounce, where it is now, to about $700 in the future."

Van Eeden says the gold price bottomed out at about $254 an once in
1999 but began appreciating about four years ago.

He says the reason for this is because the dollar peaked between
1999 and 2001, and then started to fall.

Van Eeden believes the manipulation theory put forward by the Gold
Anti-Trust Action Committee began in the early 1990s.

At that time, there was a shortage of gold and central banks began
selling their reserves, lending support to the theory banks were
depressing the price of gold.

Van Eeden predicts the price of gold will hit more than US$700
before the end of the decade.


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