Daily Dispatches

Nuclear bomb hangs above the gold market

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Barrick's Munk flies to defence of hedging

By Keith Damsell
www.miningweb.com
May 17, 2000

Peter Munk, chairman of Barrick Gold Corporation, gave an emotional defence
of the company's hedging strategy on May 16, a forward-selling gold program
that has generated profit and controversy for the Toronto mining giant.

"Don't let yourself be taken in by confusion and propaganda," Munk told

Clinton administration goes to war against GATA

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Copyright 2000 www.LeMetropoleCafe.com
Not to be reproduced without permission
-----------------------------------------

MIDAS COMMENTARY FOR MAY 16, 2000

By Bill Murphy
www.LeMetropoleCafe.com

Spot gold $275.30, down 20 cents
Spot silver $5.11, up 9 cents

The CRB index continues its relentless move higher,
closing at 221.15, up another 1.17 today, well above
its 200-week moving average number of around 219. Oil

Barrick''s Munk defends company''s hedging

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WAR!
Clinton Administration Launches
Counteroffensive Against GATA

By Bill Murphy, Chairman
Gold Anti-Trust Action Committee Inc.
May 17, 2000

As a result of the "enveloping horn" battle tactic
employed by the Gold Anti-Trust Committee, all heck is
breaking loose.

To begin with, I received this email early this morning
from a member of www.LeMetropoleCafe.com:

"Bill, apparently this article was in the news, then it

Privateer on interest rate hike and gold

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10:15p EDT Monday, May 15, 2000

Dear Friend of GATA and Gold:

The text and image of the new GATA two-page
advertisement in Roll Call, published today,
are ready for viewing at GATA's informational
web site at:

http://www.gata.org/latest.html

We're having an impact in Washington, thanks
to our great supporters.

Please post this as seems useful.

Midas commentary for May 16, 2000

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5p EDT Tuesday, May 16, 2000

Dear Friend of GATA and Gold:

You may enjoy this commentary from Bill Buckler's
Privateer Market Letter, which, apart from being
insightful, mentions GATA toward the end.

Buckler asks whether GATA last week told Congress
that it should give up on the dollar and return the United
States to a gold standard. We didn't. We think the
dollar has its place as much as gold does. But we

New GATA ad posted at www.GATA.org

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12:05a EDT Monday, May 15, 2000

Dear Friend of GATA and Gold:

Reginald H. Howe of www.goldensextant.com demonstrates
in his latest essay that the Federal Reserve knows more
about the manipulation of the gold market than it is letting
on. His essay is accompanied by three important charts that
cannot be reproduced in this simple email. So I have copied
the text here, made parenthetical insertions showing where

Fed knows more about gold manipulation than it admits

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NEW GATA OFFENSIVE STARTS IN THE MORNING

By Bill Murphy, Chairman
Gold Anti-Trust Action Committee
and proprietor, www.LeMetropoleCafe.com

May 14, 2000

Many battles have been won throughout history using the
element of surprise. As members of www.LeMetropoleCafe.com
and GATA know, the Gold Anti-Trust Action Committee has
employed the "enveloping horn" battle tactic of the great South

New GATA offensive starts in the morning

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11:15p EDT Friday, May 12, 2000

Dear Friend of GATA and Gold:

On Wednesday at 11:30 a.m. the Gold Anti-Trust Action
Committee -- consisting of Chris Powell, Reginald Howe,
Frank Veneroso, a state senator, and myself -- met with
one of the most powerful officials in Washington. It
was supposed to be only a 15-minute meeting. It lasted
45 minutes.

Toward the end of the meeting we were excused from the

Murphy''s report on GATA trip to Washington

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10:45p EDT Thursday, May 18, 2000

Dear Friend of GATA and Gold:

John Hathaway of the Tocqueville Gold Fund has followed
Reginald H. Howe of www.GoldenSextant.com in analyzing
the huge gold liabilities recently undertaken by J.P.
Morgan & Co. Hathaway concludes that bullion dealers
are completely unprepared for the looming reversal in
the gold market.

I've not been able to reproduce the chart that accompanies

John Hathaway examines Morgan''s gold position

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1a EDT Thursday, May 10, 2000

Dear Friend of GATA and Gold:

On Wednesday the GATA delegation to Washington met
with high officials of Congress and their staffs to present
evidence that the price of gold is being manipulated and
that gold loans have reached levels that threaten the U.S.
and world banking systems. We presented GATA's new
report, "Gold Derivative Banking Crisis," and asked that

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