Jeffrey Nichols: Looking behind the Saudi gold holdings increase


10:52a ET Wednesday, June 23, 2010

Dear Friend of GATA and Gold:

Writing for Resource Investor, Jeffrey Nichols of Rosland Capital in Santa Monica, California, notes the sudden more than doubling of the gold reserves reported by Saudi Arabia and speculates that Saudi Arabia and other oil-exporting nations are likely buying gold "on the sly through their sovereign wealth funds that do not necessarily report their investment holdings." If so, the gold suppression scheme of the paper pushers in London and New York may be very near its end. Nichols' commentary is headlined "Looking Behind the Saudi Gold Holdings Increase" and you can find it at Resource Investor 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:

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