British gold fund manager cites GATA on CNBC Europe

Section:

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:

http://www.cnbc.com/id/37352471

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



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