Gene Arensberg credits GATA for silver's surge in last year

Section:

9p ET Monday, March 28, 2011

Dear Friend of GATA and Gold (and Silver):

In his new edition of the Got Gold Report, Gene Arensberg credits GATA Chairman Bill Murphy and GATA Board of Directors member Adrian Douglas for sparking the surge in the price of silver over the last year with their testimony last March to the hearing of the U.S. Commodity Futures Trading Commission about silver price suppression.

Arensberg writes:

"Certainly we cannot account for the recent historic run-up in price with action in the futures markets. We are likely witness to at least the perception of if not an actual physical squeeze of sorts as dealers, warehousemen, and operators who have sold 'silver' to investors and speculators in 'pooled' or unallocated accounts are now having to locate and allocate actual physical bar stocks, real metal, to their clients from what has been a fractional-reserve metal system.

"The issue gained broad exposure when Gold Anti-Trust Action Committee consultant Adrian Douglas and GATA Chairman Bill Murphy appeared before the CFTC in a hearing about one year ago, and it has been building to a crescendo ever since. We suggest that comments then by CPM Group head honcho Jeffrey Christian were the seed of the current rush to physical metal. Christian indicated then that the large bullion banks and metal dealers operated what amounted to a fractional-reserve system for their paper metal transactions -- with as much as 100:1 leverage, no less.

"Shortly after that hearing, Douglas and other like-minded analysts put a laser-like focus on the perils of holding unallocated or undefined metal as opposed to allocated metal accounts or actual physical metal."

An excerpt from the new Got Gold Report is headlined "GGR Excerpt -- Silver COT" and you can find it at the Got Gold Report's Internet site here:

http://www.gotgoldreport.com/2011/03/ggr-excerpt-silver-cot.html

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



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Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit,
Extending the Mineralization of the Southwest Vein on the Property

Company Press Release, October 27, 2010

VANCOUVER, British Columbia -- Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include:

-- Hole E10-66 intersected 17.4g gold/ton over 1.54 metres.

-- Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres.

-- Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre.

Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface.

"The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest."

For the company's full press release, please visit:

http://sonaresources.com/_resources/news/SONA_NR19_2010.pdf



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The Gold Standard Now: It Can Work

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