Is the gold price-suppression scheme coming apart?

Section:

Credit Agricole Brokerage's Report Says:
GATA is Right, Start Hoarding Gold

GATA press release
via Business Wire
Thursday, February 2, 2006

http://biz.yahoo.com/bw/060202/20060202005283.html?.v=1

Cheuvreux, the equity brokerage house of Credit Agricole, the huge
French bank, this week distributed a 56-page report that completely
endorses in detail the findings of the Gold Anti-Trust Action
Committee that the price of gold has been surreptitiously suppressed
by Western central banks and that those banks do not have the gold
they claim to have.

The report, written by Cheuvreux's mining sector analyst in London,
Paul Mylchreest, is titled "Remonetization of Gold: Start Hoarding."
It repeatedly cites GATA by name and foresees an "unprecedented"
rise in the gold price, possibly accompanied by a spike to as much
as USD2,000.

The report's executive summary says:

"We are raising our mid-cycle gold price estimate to USD900/oz from
USD750/oz and see the possibility of a spike to USD2,000, or higher.
Covert selling (via central bank lending) has artificially depressed
the price for a decade.

"Central banks have 10,000-15,000 tonnes of gold less than their
officially reported reserves of 31,000. This gold has been lent to
bullion banks and their counterparties and has already been sold for
jewelry, etc. Non-gold producers account for most and may be unable
to cover shorts without causing a spike in the gold price.

"There is a supply deficit in the gold market of around 1,300 tonnes
per year before any central bank selling and perhaps 700 tonnes per
year after 'official' sales but before covert selling. This compares
with world gold mine output of only 2,500 tonnes per year. Some
central banks, notably Russia, are starting to buy gold.

"Gold acts as an early warning of potential crisis such rising
inflationary/deflationary pressures and general confidence in paper
currency, especially the U.S. dollar. A strongly rising gold price
could have severe consequences for U.S. monetary policy and the U.S.
dollar. History suggests that gold always wins against an inflating
paper currency (that is, one subject to excessive supply growth).

"Gold and gold mining stocks are poised for an unprecedented rise in
prices and profile. Investors in UK/European equities need to assess
the implications for their portfolios. ..."

The Cheuvreux/Credit Agricole report details GATA's findings in
Chapter IV, "Analysis of the Gold Market," and concurs in them
as "broadly correct."

"No financial house in Europe could be more part of the
establishment than Credit Agricole," GATA Chairman Bill Murphy said
today, "and now its endorsement of GATA is circulating among other
big financial houses in Europe and around the world.

"This evokes what Adam Fleming, former chairman of Harmony Gold, now
chairman of Wits Gold, said at GATA's Gold Rush 21 conference in
Dawson City, Yukon Territory, Canada, last August, just hours before
the current sharp rally in gold began: that just a little investment
demand could take the central banks out of their gold 'in the blink
of an eye.'

"A LITTLE investment demand? Credit Agricole's brokerage house has
just declared: Start hoarding!"

Gold Rush 21, Murphy said, "was truly historic and decisive. It
gathered the world's top experts on gold to spell out, explain, and
publicize the gold price suppression scheme, and the conference
issued the Dawson Declaration, an appeal for free markets in the
precious metals as a matter of basic human rights."

A two-DVD set of the proceedings of the Gold Rush 21 conference,
including a dramatic 25-minute video summarizing the conference,
produced by the brilliant Vancouver videographer Trevor Johnston,
can be obtained through this Internet link:

http://www.goldrush21.com/

The Cheuvreux report on the gold market can be obtained at GATA's
main Internet site here:

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

"As for gold itself," Murphy said, "you can get some from coin and
bullion dealers, but as the Cheuvreux report gets around, there may
not be much left."

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

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:

http://www.jsmineset.com

http://www.cbs.marketwatch.com

http://www.mineweb.com/

http://www.gold-eagle.com/

http://www.kitco.com/

http://www.usagold.com/

http://www.usagold.com/amk/usagoldmarketupdate.html

http://www.GoldSeek.com/

http://www.GoldReview.com/

http://www.capitalupdates.com/

http://www.DailyReckoning.com

http://www.goldenbar.com/

http://www.silver-investor.com

http://www.thebulliondesk.com/

http://www.sharelynx.com/

http://www.mininglife.com/

http://www.financialsense.com

http://www.goldensextant.com

http://www.goldismoney.info/index.html

http://www.howestreet.com

http://www.depression2.tv

http://www.moneyfiles.org/

http://www.howestreet.com

http://www.minersmanual.com/minernews.html

http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html

http://www.goldcolony.com

http://www.miningstocks.com

http://www.mineralstox.com

http://www.freemarketnews.com

http://www.321gold.com

http://www.SilverSeek.com

http://www.investmentrarities.com

http://www.kereport.com
(Korelin Business Report -- audio)

http://www.plata.com.mx/plata/home.htm
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm
(In English)

http://www.resourceinvestor.com

http://www.miningmx.com

http://www.prudentbear.com

http://www.dollarcollapse.com

http://www.kitcocasey.com

http://000999.forumactif.com/

http://www.golddrivers.com/

http://www.goldpennystocks.com/

http://www.oroyfinanzas.com/

Subscription sites:

http://www.lemetropolecafe.com/

http://www.goldinsider.com/

http://www.hsletter.com

http://www.interventionalanalysis.com

http://www.investmentindicators.com/

Eagle Ranch discussion site:

http://os2eagle.net/checksum.htm

Ted Butler silver commentary archive:

http://www.investmentrarities.com/

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

COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS

Blanchard & Co. Inc.
909 Poydras St., Suite 1900
New Orleans, Louisiana 70112
888-413-4653
http://www.blanchardonline.com

Centennial Precious Metals
Box 460009
Denver, Colorado 80246-0009
1-800-869-5115
http://www.USAGOLD.com
Michael Kosares, Proprietor
cpm@usagold.com

Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
http://www.ColoradoGold.com
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net

El Dorado Discount Gold
Box 11296
Glendale, Arizona 85316
http://www.eldoradogold.net
Harvey Gordin, President
Office: 623-434-3322
Mobile: 602-228-8203
harvey@eldoradogold.net

Gold & Silver Investments Ltd.
Mespil House
37 Adelaide Rd
Dublin 2
Ireland
+353 1 2315260/6
Fax: +353 1 2315202
http://www.goldinvestments.org
info@gold.ie

Investment Rarities Inc.
7850 Metro Parkway
Minneapolis, Minnesota 55425
http://www.gloomdoom.com
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com

Kitco
178 West Service Road
Champlain, N.Y. 12919
Toll Free:1-877-775-4826
Fax: 518-298-3457
and
620 Cathcart, Suite 900
Montreal, Quebec H3B 1M1
Canada
Toll-free:1-800-363-7053
Fax: 514-875-6484
http://www.kitco.com

Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
http://www.certifiedcoins.com
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com

Lone Star Silver Exchange
1702 S. Highway 121
Suite 607-111
Lewisville, Texas 75067
214-632-8869
http://www.discountsilverclub.com

Miles Franklin Ltd.
3015 Ottawa Ave. South
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
http://www.milesfranklin.com
Contacts: David Schectman,
Andy Schectman, and Bob Sichel

Missouri Coin Co.
11742 Manchester Road
St. Louis, MO 63131-4614
info@mocoin.com
314-965-9797
1-800-280-9797
http://www.mocoin.com

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
http://www.buysilvernow.com

Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com

The Moneychanger
Box 178
Westpoint, Tennessee 38486
http://www.the-moneychanger.com
Franklin Sanders
1-888-218-9226, 931-766-6066

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

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:

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

By GoldMoney:

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

Donors of $1,000 or more will, upon request,
be sent a print of Alain Despert's colorful
painting symbolizing our cause, titled GATA.

Donors of $200 or more will receive copies
of "The ABCs of Gold Investing" by Michael
Kosares, proprietor of Centennial Precious
Metals in Denver, Colorado, and "The Coming
Collapse of the Dollar" by James Turk and
John Rubino.

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.