Important essay by Jay Taylor at Gold-Eagle


By BILL MURPHY, Chairman
Gold Anti-Trust Action Committee
Friday, January 26, 2001

Before dawn I will leave Dallas on behalf of the Gold
Anti-Trust Action Committee for South Africa to meet
with the press, mining union officials, business and
political leaders, and most all of the major gold
producers in that mineral-rich country.

The mission is simple. GATA and Reg Howe are bringing
that country and much of southern Africa a way to
rescue their economies within a matter of months. We
will deliver them overwhelming evidence of the
manipulation of the price of gold that has kept the
price hundreds of dollars below its natural equilibrium
price. We will ask them, after studying this evidence,
to support GATA politically and to support the
Howe/GATA lawsuit against the gold cabal in U.S.
District Court in Boston.

Once the gold cabal is forced into the legal discovery
process and has to answer questions under oath from our
lawyers, the gold price-fixing scheme will end. Then
the price of gold will soar.

That will mean a boom for the poor gold-producing
countries of Africa. A gold boom will foster an
exploration boom for all kinds of commodities in this
mineral-rich continent.

As the boom develops, there will be money available to
treat the horrific epidemics in Africa. There will be
more money to keep teachers from leaving the continent,
more money for the athletic teams that fared so poorly
in the recent Olympics, more money for law enforcement
to fight crime. One hundred thousand unemployed miners
would go back to work.

All South Africa has to do is be willing to learn what
we already know and take action. It is that
straightforward and easy. So far no one in the gold
industry who has reviewed GATA's Gold Banking
Derivative Crisis report or read our lawsuit has said
we are wrong -- no one.

Anyway, this is the message I will do my best to

Meanwhile, GATA is gaining ground in the mainstream
investment community.

Two of the most esteemed investment letter writers are
Harry Schultz and Richard Russell.

Russell included the following in his commentary
tonight. It is a breakthrough for GATA, and when we win
the day, it will give the "R" man back a free market,
which he so cherishes:

"This from Harry Schultz: The gold war begins. GATA's
Reg Howe is suing the Bank for International
Settlements, U.S. Fed, U.S. Treasury, Alan Greenspan,
and five investment houses, including J.P. Morgan,
Chase, Citicorp, Goldman Sachs, and Deutsche Bank, for
fixing the price of gold. Says GATA Chairman Bill
Murphy, 'Many mining companies, their employees,
shareholders, and developing nations have been ruined
by gold price manipulation. And it has placed the
savings of ordinary investors around the world at
greater risk. Meanwhile, certain Wall Street interests
have made billions from this manipulation. GATA was
founded to fight this, and fighting this we are.'

"He adds, 'We expect the gold cabal to mount a
ferocious counterattack, but they have a serious
problem. We have the truth going for us, and it's
displayed at for the world to see.'"

Thanks, Sir Harry, and thanks, R.R.

This is the message I will take to the Investing In
African Mining Conference / INDABA 2001.

Time to sign off and get some shut-eye. It is a long
trip. It will take more than 24 hours to get to
Johannesburg. From there, some significant meetings
have been arranged in Durban, then back to Johannesburg and
then off to Cape Town for the conference and a luncheon
for GATA nearby.

I even get a sendoff at the airport. LeMetropole Cafe
and GATA member Brad Thompson is working at the
Dallas/Fort Worth airport in the early morning and will
be there to wish us well.

I will do what I can to keep you updated on the trip to
South Africa. Meanwhile, hold the fort for me.