Another public pension fund official recommends gold

Section:

11a ET Thursday, February 28, 2008

Dear Friend of GATA and Gold:

John Rubino, co-author with GoldMoney founder and GATA consultant James Turk of "The Coming Collapse of the Dollar," has just found a new supporter of gold within the financial establishment: Shayne McGuire, director of global research for the Texas Teacher Retirement System. Interviewed by Rubino, McGuire remarks of gold:

"Furthermore, there are strains on supply, as the mining industry struggles to increase production, and there are signs that central banks may begin to slow down their sales of gold after decades of dumping. Clearly, to this last point, there has not been a free market in gold. Perhaps we will soon discover gold’s real value, and I think it's not cheap. Clearly, central banks have impeded a truly free market in gold. In the years ahead we will discover gold's true value, and I think it's several thousand dollars higher than what we see today."

GATA will be sending McGuire one of our stylish tinfoil hats. (At least they're a lot more stylish than they were when GATA was founded in January 1999.) In the meantime, you can read Rubino's interview with him, headlined "Shayne McGuire: The Early Innings of a Gold Boom," at the Dollar Collapse site here:

http://www.dollarcollapse.com/iNP/view.asp?ID=64

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

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