Normandy CEO sees gold "manipulation"

Section:

3a EDT Saturday, August 14, 1999

Dear Friend of GATA and Gold:

Two days ago Robert Champion de Crespigny, chief
executive officer of Australia's biggest gold mining
company, Normandy Mining, joined GATA's side in
the battle against the Wall Street investment banks
that are suppressing the price of gold.

Champion de Crespigny was interviewed on the
Australian Broadcasting Company's late-night
television talk show, "Lateline," along with Haruko
Fukuda, chief of the World Gold Council, and Tony
Warwick-Ching, a consultant with Virtual Metals,
a company that analyzes the precious metals
market.

CdeC's comments are especially interesting in
light of the great amount of forward selling Normandy
is believed to have done in recent years. Some have
called Normandy and American Barrick, the
handmaidens of the collusion against gold, on
account of their vast amounts of forward selling.

If you have RealAudio, you can hear the "Lateline"
program via the Internet at:

http://www.abc.net.au/lateline/stories/s43566.htm

Here's a summary of CdeC's comments:

* Investment banks are "making a fortune manipulating
the gold market."

* Many important investment advisers have "substantial
conflicts of interest" when they advise their clients against
gold.

* The price of gold will revive because "in the end we'll
have a much more transparent market."

* The Bank of England is selling its gold against the
wishes of the British people.

* The price of gold will strengthen quickly when people
see what's going on in the market and the market
becomes more open.

* "I'm certain gold's going up. It will be as quick as oil
was recently."

Please post this as seems useful.

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