Is gold the dog that barked and may even be dead?

Section:

9:20p EDT Thursday, October 5, 2000

Dear Friend of GATA and Gold:

You know of GATA's assertions about the former CEO of
Goldman Sachs and former U.S. treasury secretary,
Robert Rubin, being the originator and orchestrator of
the manipulation of the gold market. You also know that
we have cited the current U.S. administration as being
instrumental in the orchestration of a low gold price.

You also have heard that Germany's foremost newspaper,
Frankfurter Algemeine, has suggested that Rubin,
Citibank, and a well known New York hedge fund, whose
name starts with "M," had inside information about the
central bank intervention in support of the euro and
took advantage of that, and then capped the euro rally
at 90 with massive selling.

GATA was all over the Frankfurter Allgemeine story,
just as we were all over that paper's stories about
GATA. They were extraordinary in that they focused on
specific bullion dealers and the U.S. government,
operating at the expense of the poor gold-producing
countries. GATA could not have taken out a better
advertisement. This is the Wall Street Journal of
Germany talking.

Rubin was mentioned in the euro intervention article in
the Frankfurter Allgemine and not his co-CEO at
Citibank, Sandy Weill. Why? GATA has stated that the
Germans know that Rubin has been the leader of the gold
market collusion and wanted the world to know that GATA
knows what it has been talking about. That is why the
articles were printed without adverse comment about
GATA. Partly as the result of this publicity, 20,000
copies of GATA's Gold Derivative Banking Crisis report
have been downloaded from the www.GATA.org site -- not
viewed, but downloaded, and this is a 119-page
document.

The election for the next president of the United
States is as close as it gets. Perhaps the following
comment by presidential candidate Al Gore will be
enlightening and revealing in that it suggests that the
U.S. administration uses Rubin as its consultant on how
to work the markets. We know what they have done to the
30-year long bond market, the oil market, the currency
market, and most probably the stock market. It is
called "manipulate ALL the markets," as in "Father
Knows Best" -- as in your COMRADE knows best.

This is just more evidence that GATA is right about how
the U.S. government has manipulated the gold market.
That plan was hatched by Robert Rubin. This government
manipulation will fail. When it does, the American
public will go berserk. It is too bad that the U.S.
mainstream press was so cowed not to have mentioned
what GATA has to say. That is something they will rue.

* * *

From the first debate of the Democratic and Republican
presidential candidates, Vice President Al Gore and
Gov. George W. Bush:

MR. LEHRER: New question. There can be all kinds of
crises. Governor -- a question for you. There could be
a crisis, for instance, in the financial area. The
stock market could take a tumble. There could be a
failure of a major financial institution. What is your
general attitude toward government intervention in such
events?

GOVERNOR BUSH: Well, it depends, obviously, but what I
would do, first and foremost, is I would get in touch
with the Federal Reserve chairman, Alan Greenspan, to
find out all the facts and all the circumstances. I
would have my secretary of the treasury be in touch
with the financial centers -- not only here but at
home. I would make sure that key members of Congress
were called in to discuss the gravity of the situation,
and I would come up with a game plan to deal with it.
That's what governors end up doing. We end up being
problem solvers. We come up with practical, common-
sense solutions for problems that we're confronted
with, and in this case, in the case of a financial
crisis, I would gather all the facts before I made the
decision as to what the government ought or ought not
to do.

MR. LEHRER: Vice President Gore?

VICE PRESIDENT GORE: Yeah, first I want to compliment
the governor on his response to those fires and floods
in Texas. I accompanied James Lee Witt down to Texas
when those fires broke out, and FEMA has been a major
flagship project of our reinventing government efforts,
and I agree, it works extremely well now.

On the international financial crises that come up, my
friend Bob Rubin, the former secretary of treasury, is
here. He's a very close adviser to me and a great
friend in all respects. I have had a chance to work
with him and Alan Greenspan and others on the crisis
following the collapse of the Mexican peso, when the
Asian financial crisis raised the risk of worldwide
recession that could affect our economy, and now, of
course, the euro's value has been dropping, but seems
to be under control.

But it started, for me, in the last eight years, when I
had the honor of casting the tie-breaking vote to end
the old economic plan here at home and put into place a
new economic plan that has helped us to make some
progress -- 22 million new jobs and the greatest
prosperity ever. But it's not good enough, and my
attitude is, You ain't seen nothin' yet. We need to do
more and better.

MR. LEHRER: So, Governor, would you agree there is no
basic difference here on intervening -- the federal
government intervening in what might be seen by others
to be a private financial crisis, if it's that severe?

GOVERNOR BUSH: No, there's no difference on that. There
is a difference, though, as to what the economy has
meant. I think the economy has meant more for the Gore
and Clinton folks than the Gore and Clinton folks have
meant for the economy. I think most of the economic
growth that has taken place is the result of ingenuity
and hard work and entrepreneurship, and that's the role
of government, is to encourage that. But in terms of
the response to the question, no.

BILL MURPHY, Chairman
Gold Anti-Trust Action Committee Inc.