James Turk: Another commodity correction is behind us


10:55p ET Tuesday, December 5, 2006

Dear Friend of GATA and Gold:

GoldMoney's James Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, writes in an essay published today that another brief correction in the commodities markets is over and that the commodities boom has a long way to go. Turk writes:

"The reason for this bull market in commodities will surprise no one. It's the U.S. dollar. There are people around the world who would rather own $1 million worth of zinc or copper or soybeans or any other commodity than $1 million in a bank account, and for good reason. The purchasing power of the U.S. dollar is being inflated away, and this inflation will no doubt worsen in the weeks and months ahead. But zinc is zinc; the value of zinc and every other commodity is based on their utility, and that utility cannot be inflated away."

Turk's essay is titled "Another Commodity Correction Is Behind Us" and you can find it at Kitco here:


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

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