Missing gold and missing socks


1a ET Thursday, August 31, 2006

Dear Friend of GATA and Gold:

GATA's friend Ralph Johnston has objected to our nomination Wednesday of gold price suppression case litigator Reg Howe as the new commandant of Fort Knox, Kentucky, site of the U.S. gold bullion depository. "Howe would be disappointed," Johnston writes, since "there's more gold in my sock drawer than in Fort Knox."

This is a fair point of inquiry, and the question is not just whether any gold is left at Fort Knox after decades of Western central bank intervention in the gold market but also, perhaps more importantly, exactly who has title to whatever gold is still there.

But let's temporize on those issues by also nominating Howe to be commandant of Johnston's sock drawer. Maybe then Howe could track down not just the missing gold but the missing socks as well. Hasn't GATA's psychic friend Mahendra predicted that all the missing socks in the world will be found in one place?

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

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