Gold is trivialized because what it exposes is so scary

Section:

11:37p ET Tuesday, April 26, 2011

Dear Friend of GATA and Gold:

You know we've been up against all the power and money in the world for a long time, and we never expect sympathy, or even journalism, but an essay posted today at MarketWatch.com, written by its Wall Street columnist, David Weidner, and headlined "Buy Gold," does its best to trivialize what should be a serious subject.

Yes, as Weidner implies, the gold world has its share of eccentrics, paranoids, survivalists, Jew haters, and such. But it also has the most learned, thoughtful, articulate, independent, and decent people in economics. Weidner enjoys ridiculing the former. But does he dare to engage the latter -- and not about the apocalypse, the Illuminati, the Trilateral Commission, and the Freemasons -- but rather about the real issues behind gold, issues like free markets, competitive currencies, surreptitious central bank intervention to defeat markets and extend imperial power, the historic relationship between interest rates and gold, the abuse of central banking for political patronage, and the need for transparent, limited, and democratic government?

If Weidner is ever up for getting serious, GATA would be glad to review its documentation with him (http://www.gata.org/taxonomy/term/21) and suggest a few pointed questions whose simple evasion by central bankers might shock him and become important news. Indeed, gold is trivialized precisely because, if it is taken seriously, what it exposes is so scary.

We'll let you know if we ever hear from Weidner. In the meantime, you can find his clumsy mockery at MarketWatch here:

http://www.marketwatch.com/Story/story/print?guid=678C3684-6F50-11E0-B64...

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



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Wall Street Journal Publishes Lewis Lehrman's Call for the Gold Standard

In its April 26 edition The Wall Street Journal published an important essay by the Lehrman Institute's chairman, Lewis E. Lehrman, explaining why a gold-convertible dollar is critical to eliminating the shocking federal deficit.

"Experience and the operations of the Federal Reserve System compel me to predict that U.S. Rep. Paul Ryan's heroic efforts to balance the budget by 2015 without raising taxes will not end in success -- even with a Republican majority in both Houses and a Republican president in 2012. ...

"What persistent debtor could resist permanent credit financing? For a government, an individual, or an enterprise, 'a deficit without tears' leads to the corrupt euphoria of limitless spending. For example, with new credit the Fed will have bought $600 billion of U.S. Treasuries between November 2010 and June 2011, a rate of purchase that approximates the annualized budget deficit. Commodity, equity, and emerging-market inflation are only a few of the volatile consequences of this Fed credit policy."

To read more, and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit:

http://www.thegoldstandardnow.org/gata



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An Evening with Bill Murphy and James Turk
Sponsored by Deutsche Edelmetall-Gesellschaft
Friday, April 29, 2011
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Savoy Hotel, London, England

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Canuc Resources Pursues Ecuador and Nova Scotia Gold Projects

Canuc Resources Corp. (TSX: CDA) has confirmed high-grade gold and the potential for large-tonnage, low-grade copper and gold mineralization at its primary asset, property in the historic Nambija gold mining district in southeastern Ecuador.

Last November Canuc took an option on the Mill Village gold property in southwestern Nova Scotia, which includes two past-producing mines. Canuc plans to begin surface and underground exploration at Mill Village in the next several weeks, financed by $2 million recently raised through a private placement.

To generate immediate income, Canuc is acquiring MidTex Oil and Gas Co., owner of a producing gas well and a lease on 320 acres in Stephens County, Texas.

Canuc's CEO, Gary Lohman, has more than 30 years of experience in the mining industry, primarily as a geologist, and the company's officers include similarly experienced people.

For more information about Canuc, please visit http://www.canucresources.ca/.