James Turk: Banking system is 'a house of cards'


12:25p ET Sunday, September 16, 2007

Dear Friend of GATA and Gold:

GoldMoney founder James Turk, editor of the Freemarket Gold and Money Report and consultant to GATA, examines the run on the British bank and mortgage lender Northern Rock and traces it to the inherent instability of fractional-reserve banking, a system the economist Murray Rothbard called "a house of cards." That's the title of Turk's new essay and you can find it in the third column of the GoldMoney home page, in the "Founder's Commentary" section here:


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

* * *

Join GATA at these conferences:

The Silver Summit
Thursday-Friday, September 20-21, 2007
Coeur d'Alene, Idaho

New Orleans Investment Conference
Sunday-Thursday, October 21-25, 2007
New Orleans, Louisiana

* * *

Help Keep GATA Going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at http://www.gata.org/.

GATA is grateful for financial contributions, which are federally tax-deductible in the United States.