Two replies to Brett Arends' disparaging of gold in The Wall Street Journal


10:30p ET Sunday, May 30, 2010

Dear Friend of GATA and Gold:

Gary North has written a comprehensive and brilliant reply to Brett Arends' essay in The Wall Street Journal last week disparaging gold as an investment. North gets a little angry but he's been fighting this battle a lot longer than most people and he may be forgiven for losing patience with those who are at best uninformed. North's essay is headlined "The Wall Street Journal's War on Gold" and you can find it at Lew Rockwell's Internet site here:

Also replying well to Arends is Robert Blumen, who writes "The Wall Street Journal Does Not Understand How the Gold Price Is Formed." You can find that essay at here:

Your secretary/treasurer made contact with Arends a couple of days ago and encouraged him to review and consider the material in the "Documentation" section at GATA's Internet site here:

With his acknowledgement Arends did not seem very receptive, but you never know when people will entertain the possibility that there may be more to a subject than they think.

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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Support GATA by purchasing a colorful GATA T-shirt:

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:

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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: