'Power of the Scepter' purchases prompt contributions to GATA

Section:

1p ET Saturday, March 23, 2007

Dear Friend of GATA and Gold:

GATA's friend Terry Krohn claims to be writing fiction, but his novels "Eye of the Pyramid" and now "Power of the Scepter" may come closer to the truth of world affairs than The New York Times, The Wall Street Journal, and the Financial Times do.

Here's an excerpt from "Power of the Scepter":

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With a nod from Helop, Jackson picked up the conversation.

"We have been accruing large short positions on the metals, the source of our growing losses. In the last several trading days, however, we have almost doubled our net short position on both the COMEX and the TOCOM -- the Japanese futures exchange. If we could muster enough selling pressure, we could get the hedge funds and the small traders to sell off their long positions, causing a significant downward spiral. Then, if we could close out most of our short positions at $2 under current market for silver and $50 under market for gold, our reporting losses would be nominal and not raise any eyebrows."

Jackson paused, staring at Sir Markham and obviously waiting for some response. Sir Markham did not receive control of the Society's interests in England by making slow assessments of complex issues; he knew exactly where the conversation was leading. Although still fighting to purge his mind from the painful images of his recent ordeal, he was able to muster some cogent comments directed toward Jackson.

"Obviously, the one starting the longs running for cover can't be your group, as this would simply dig you a deeper hole. We both know the precious metals are going to explode in price once we step out of the exchanges. So you want my banking interests in the Caribbean to step up. Of course then these offshore banks will be left holding the bag when you cover your short positions and leave these markets for good."

Helop offered the denouement. "Yes, the losses will be transferred to the Caribbean banks. But either we will default on our obligation to deliver the metals and close our doors, or we will force the counterparties to accept 10 cents on the dollar."

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This will be fun reading while we wait for the establishment news media to get around to the real story, and Krohn's publisher, Axiom House, will make it even more fun by donating $2 to GATA for every purchase of a Krohn novel made by a GATA supporter through the end of March. A copy of Krohn's novels is only about $20, so check out the offer by using this special link:

http://www.axiomhouse.com/GATA/main.htm

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

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