Beyond GATA, sound money

Section:

5p EDT Saturday, July 10, 1999

Dear Friend of GATA and Gold:

The Financial Times published Friday a major story
about GATA. It follows. Please post this as seems
useful.

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

* * *

The Golden Notebook
By Holly Yeager
The Financial Times
Friday, July 9, 1999

For those who are absolutely convinced that gold is at
the conspiratorial core of schemes to benefit big
banks, hedge funds, and central bankers (and harm
everybody else), this week's auction of UK reserves has
provided the incontrovertible proof that Machiavellian
machinations are at work.

Some see the sale as a bid to keep the price of the
precious metal under $300 an ounce. Others think it was
meant to help shore up the sagging euro.

Bill Murphy, leader of the Gold Anti-Trust Action
Committee, reacted to the record low gold price with a
knowing tone. "The ploy by the collusion crowd to
create very negative sentiment worked," the Dallas
resident wrote on his financial web site. "Not much
else can be said here that is worth a tinker's darn.
The technicals mean very little in a market that is
manipulated."

Murphy created the gold group early this year to fight
against that kind of collusion. His language is
littered with the kinds of words sure to win followers:
operatives, cahoots, powers-that-be, and Watergate.

"It is only a matter of time before a John Dean comes
walking in the door or someone sends us a 'stained
dress,'" he said. That's not the end of the Monica
link.

Murphy boasts that his group (with the help, he says,
of 300 like-minded people) has retained the
Philadelphia law firm of Berger & Montague. One of the
lawyers on the case: Jerome Marcus, who played a
central role in what Hillary Clinton called a "vast
right-wing conspiracy" out to destroy her husband. It
was Marcus who called a law school friend working for
independent counsel Ken Starr in early 1998 and tipped
him off about Monica Lewinsky and her tape-recording
confidante, Linda Tripp.

While the Monica matter has finally calmed down,
Washington is under heavy lobbying by global gold buffs
who hope to scuttle the International Monetary Fund's
planned sale of 10 million ounces of bullion to aid in
debt relief for poor countries.

Murphy, who has invested in gold and mining companies,
says he's been working on exposing the gold plot,
without pay, for six months, "and finally the world is
waking up." His real hope is that the gold price perks
up.

-END-

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