GATA busts the shorts and gold rallies


By Bill Murphy, Chairman
Gold Anti-Trust Action Committee Inc.
June 1, 2000

The Gold Derivative Banking Crisis report that the GATA
delegation presented to one of the most powerful
politicians in Washington as well as to Dr. John
Silvia, chief economist of the Senate Banking
Committee; Alabama U.S. Rep. Spencer Bachus, chairman
of the House Subcommittee on Domestic and International
Monetary Policy, including six of his staff members;
and to every member of the House and Senate banking
committees is now available.

It is in PDF format at:

In addition to the original document, two recent essays
on gold derivatives by Reginald H. Howe have been
added. These essays were also sent to the appropriate
people in Washington. They now include members of the
Subcommittee on Technology, Terrorism, and Government
Information. This subcommittee reports to the Select
Committee on Intelligence and requested GATA's
documents about the manipulation of the gold market.

The Gold Derivative Banking Crisis report is long,
comprehensive, and at times somewhat technical. It is
the nature of the beast. But there is no more bullish
report anywhere on gold than this one. GATA hopes that
the Internet will hasten its delivery to money
managers, the press, and governments around the world.

Various forces are repressing the equilibrium price of
gold by hundreds of dollars. This cabal of bullion
banks, with the probable assistance of the Exchange
Stabilization Fund or New York Federal Reserve Bank, is
being found out. As this information we are presenting
to you is understood by investors around the world,
they will start buying physical gold in earnest.

The shorts are trapped. When they try to cover those
shorts, there will be a buying panic.

It is only a question of time -- weeks, months, a year.

One of the most favorable risk/reward trades in history
(buying gold now) is staring you right in the face.
This document explains why.

GATA needs contributions from gold companies and
individuals from all over to get this message out. For
example, Reg Howe, Frank Veneroso, and I are headed for
the Financial Times' Gold Conference in Paris on June
26 and 27. That will not be cheap. We need your
support. Contributions in all amounts are welcome.
Please give us your consideration if you like what you
read in the Gold Derivative Banking Crisis report.

Along that line, most of you know that the theme of is the French cafes of the
early 20th century: Le Moulin Rouge (Pigalle), Les Deux
Magots (St. Germain), Le Flore (St. Germain), La
Coupole (Montparnasse), and Brasserie Lipp (St.
Germain). Paris was a place where artists,
intellectuals, public personalities, and others met to
engage, share, and learn.

The popular drink at that time was Absinthe, an emerald
green hallucinogenic, which came to be banned
worldwide. It was believed to stimulate creativity and
was associated with intellectuals and artists such as
Van Gogh, Toulouse-Lautrec, Hemingway, and Picasso.

In what I consider to be an incredible irony, the Arts
District Gallery just issued this press release about
GATA artist Alain Despert:

* * *

Arts District Gallery
Fairmount Hotel
Dallas Texas

June 1, 2000


Alain Despert has been commissioned by the legendary
Absolut vodka marketing genius Michel Roux, chairman
and CEO of Crillon Importers Ltd., to create a painting
for Roux's latest endeavor, "Absente."

Despert's image of "The Green Fairy" is scheduled to
appear in national magazines as part of the Absente
advertising campaign this fall.

Absente is a dazzling emerald green spirit distilled in
the tradition of Absinthe, a drink long associated with
artists of the late 19th-century cafe society.

Roux has distinguished himself as an exceptional
marketer, philanthropist, and supporter of the arts.
Importing and marketing Absente is a perfect fit for

Despert and Roux were first associated in 1990 when
Roux selected Despert's work for the renowned "Absolut
Artists of the Nineties" advertising campaign, which
featured leading-edge artists of the decade. Despert,
originally from France, relocated his studio base to
Dallas last year. His paintings are featured at the
Arts District Gallery at the Fairmount Hotel in Dallas.

Contact Karen Brown:
Telephone: 214-220-3266

* * *.

Early last year I approached Alain to do a painting for
GATA, explaining to him what the Gold Anti-Trust Action
Committee had discovered about the gold market. I said
nothing about the kind of painting he should do or what
GATA wanted to convey in any specific sense. I left
that all up to him.

In my opinion he came up with a masterpiece in relating
GATA's quest to that of Don Quixote. Don Quixote De La
Mancha (based on Cervantes' character and in part on
Cervantes himself) personifies romantic idealism (a
state of mind just this side of madness) in its purest
form. Don Quixote's story "becomes an inspiration to
pursue our personal quests with unfailing dedication,
unbridled optimism, unwavering courage, and
unparalleled chivalry."

That story has endured for hundreds of years with
increasing popularity.

Despert intuitively understood that GATA was throwing
light on a dark situation.

The man on the horse in Alain Despert's painting (which
may be viewed at the GATA web site at represents all GATA supporters
around the world.

By the time GATA is done, there will be an enhancement
to the "Man of La Mancha" story that also may last
hundreds of years. That is because we are going to win.

While our adversaries have the power and the big money,
we have the truth and the Internet on our side. The
cabal of bullion bankers is going to be vanquished.

* * *

"The Impossible Dream" (The Quest)

From "Man of LaMancha"
Lyrics by Joe Darion

"In this song, Quixote explains his quest and the
reasons behind it .... In doing so, he captures the
essence of the play and its philosophical

To dream ... the impossible dream.
To fight ... the unbeatable foe.
To bear ... with unbearable sorrow.
To run ... where the brave dare not go.

To right ... the unrightable wrong.
To love ... pure and chaste from afar.
To try ... when your arms are too weary.
To reach ... the unreachable star.

This is my quest, to follow that star,
No matter how hopeless, no matter how far.
To fight for the right, without question or pause.
To be willing to march into Hell for a Heavenly cause.

And I know if I'll only be true
To this glorious quest,
That my heart will lie peaceful and calm
When I'm laid to my rest.

And the world will be better for this:
That one man, scorned and covered with scars,
Still strove, with his last ounce of courage,
To reach ... the unreachable star.

* * *

As our effort to expose one of the great financial
scandals in American history is ongoing, we continue to
seek financial support so we can expose the truth about
the gold market.

GATA is a civil-rights and educational organization
incorporated in Delaware, U.S.A., and contributions to
it are tax-deductible in the United States under the
Internal Revenue Code.

GATA accepts financial contributions in three ways:

By mail:

Gold Anti-Trust Action Committee Inc.
c/o Chris Powell, Secretary/Treasurer
7 Villa Louisa Road
Manchester, Conn. 06043-7541

By bank wire:

Gold Anti-Trust Action Committee Inc.
c/o Savings Bank of Manchester
923 Main St.
Manchester, CT 06040
Bank routing number 211-170-185
For Account No. 9500-574-053

And by E-Gold:

Gold Anti-Trust Action Committee Inc.
Account No. 110915

To build excitement for our cause and our fund raising,
GATA has produced beautiful copies of Despert's
painting, "GATA."

Each of these prints is of the highest quality: a Fine
Art Giclee print on Hand-Torn Arches paper, 20 1/2
inches by 32 inches, signed and numbered by the artist.

We will ship a print of the GATA painting to donors of
$500 or more. For the purpose of qualifying for a
print, we'll count donations cumulatively. That is, if
you've sent less than $500 already, we'll send you a
print if you donate further and reach $500, for as long
as prints remain in stock.

If you would like a print (there are only 170 left),
please include with your $500 contribution an
additional $25 for shipping to addresses in the United
States and Canada, and $75 extra for shipping

Who knows? Maybe the GATA print itself will be quite
the investment someday!