British gold fund manager cites GATA on CNBC Europe


9p ET Wednesday, May 26, 2010

Dear Friend of GATA and Gold:

Somewhere in the Bible it says to cast your bread upon the waters and hope that something comes back besides gagging seagulls, and today brought some vindication for the idea.

CNBC Europe's "Squawk Box" program interviewed Ben Davies, CEO of Hinde Capital in London and co-manager of its gold fund, and he remarked seditiously that "central banks and governments are very good at obscuring facts," that there is some doubt that the United States has the 8,000 tonnes of gold it claims to have, and that GATA has brought legal action to try to find out.

Davies also calculated that, if its gold is still around, the United States' national debt could be eradicated at a gold price of $36,000 per ounce. (Assuming general asset inflation along those lines, a Big Mac from McDonald's then might cost $90, even without the special sauce.)

The interview with Davies is 7 1/2 minutes long. The reference to GATA comes at about 5:55. You can find it at CNBC here:

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


Prophecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource

Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production
will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management
team includes John Morganti, Arnold Armstrong, and Rob McEwen.

For Prophecy's complete press release about its production plans, please visit:

Join GATA here:

World Resource Investment Conference
Sunday and Monday, June 6 and 7, 2010
Vancouver Convention Centre
Vancouver, British Columbia, Canada

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Coming Friday-Sunday, June 11-13, at the Dallas-Fort Worth Airport Marriot:
The Anglo Far-East Bullion Co.'s Gold and Silver Conference

The conference will explore the dangers and opportunities in today's bullion markets and the need for investors to diversify bullion holdings outside of bullion banking and commodities markets. Speakers will include David Morgan of, Gold Anti-Trust Action Committee Chairman Bill Murphy, and Duncan Cameron and Philip Judge of Anglo Far-East Bullion Co. The earliest conference attendees on Saturday will be able to schedule one-on-one interviews for personal consultation with Anglo-Far East's experts on Sunday.

To learn more about and register for the Anglo Far-East Bullion conference, please visit: