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Intriguing article about Gold Fields and Anglogold

Section: Daily Dispatches

By Bill Murphy, Chairman
Gold Anti-Trust Action Committee Inc.
February 21, 2001

As I prepared to board the South African Airways plane
to return home to Dallas, Texas, after my 2 1/2-week
barnstorming tour of South Africa, a book on the
counter stared me right in the face. Its cover was
burnt orange and showed an African warrior wearing a
tall headdress and brandishing a huge shield and spear.
The book was titled, quot;Leadership Lessons From Emperor
Shaka Zulu the Great,quot; and its author was Phinda
Mzwakhe Madi.

I was stunned by what I found at the bottom of the
cover. On the left was the emblem of South African
Airways and on the right were these words: quot;Foreword by
Deputy President Jacob G. Zuma.quot;

On the back cover was a message from the sponsor of the
book, South African Airways, and its chairman, Bheki

I had just met with the modern king of the Zulu people,
Goodwin Zwelithini, and he had instructed his aide to
contact Deputy President Zuma, a fellow Zulu and the
No. 2 political figure in South Africa, to look into
the claims of the Gold Anti-Trust Action Committee.
Soon after our meeting, South Africa's Ministry of
Minerals and Energy sought me out to set up a meeting
with Minister Phumzile Mlambo Ngcuka. We did meet and
then she arranged a meeting for me with other senior
members in her ministry and with two senior officials
of the Reserve Bank of South Africa.

Only two days after my meeting with the king, I met
with SAA Airways Chairman Sibiya. He is also executive
director of Transnet, one of the largest organizations
in South Africa, and national chairperson of the Black
Management Forum.

At meeting, I laid out GATA's action plan against the
gold cartel, explaining that it was based on the
quot;enveloping hornquot; strategy of Shaka. Sibiya could not
have been nicer or more receptive. I now realize that
he must have been a bit bemused to hear of our Shaka
battle plan.

This is the sponsoring message that Sibiya and Coleman
Andrews, CEO of SAA, wrote on the back cover of the

quot;The world believes, and we agree, that South Africa
may well provide answers to some of the most
intractable problems concerning the co-existence of the
peoples of the world. South Africa is a land rich with
culture and heritage. Our capacity to dream and hope,
sometimes against formidable odds, stems from the
inspiration we draw from epic heroes like Shaka Zulu.
We invite you share the South African dream with

Jacob G. Zuma stated the following in the book's

quot;The leadership magnificence of Shaka the monarch, the
statesman, the visionary, the transformer, the
motivator, the achiever, the example, and the mentor
provides a good menu for many in politics, business,
organised labour, community structures, religion, arts
and culture, sport, and other institutions and sectors.
He understood his circumstances well, planned campaigns
meticulously, trained and prepared his men and women
formidably, carried out his missions diligently, and
decisively and assessed and celebrated his achievements
in most fitting ways.quot;

Naturally, I bought the book to read on the trip

Author Madi highlights universal truths of good
leadership and translates Shaka's secrets into 10
valuable leadership lessons of modern management

* Build a sense of mission.

* Mission is more important than convention.

* To be a conqueror, be apprenticed to a conqueror.

* Lead the charge (from the front).

* Build a fanatical team.

* Go where angels fear to tread.

* Be a good strategist (or get one).

* Know the battlefield better than the enemy does.

* Be obsessed with world-class technologies.

* Never believe your own public relations.

Why is this so important in regard to GATA? It is
because GATA is about to up the ante and go for the
jugular of the gold cartel. The more that GATA
supporters are aware of our battle plan and philosophy,
the more creative help and effort we are likely to
receive from our own army.

In South Africa I was approached by an official of the
mining ministry about possibly replicating a recent
successful forum held in South Africa, a gathering of
government officials about the diamond business. It was
suggested to me that perhaps some department in the
South African government could organize a similar
conference for GATA and the mining and minerals
ministers of the gold-producing nations of Africa.

In accordance with this, Reg Howe, Frank Veneroso, and
I would go to South Africa and present our findings
about manipulation of the gold market to these
important officials. People in the gold industry would
be invited, as well some key U.S. politicians.
Naturally, we would invite detractors of our claims to
attend, though I doubt that they are up to the

Information about the diamond forum is being sent to

Perhaps, in the spirit of Shaka, Deputy President Zuma
and Bheki Sibiya can assist the organizational effort
of this important meeting. After all, once the
manipulation of the gold market is exposed to the
mainstream and understood by the investment world, the
gold price will explode. That will be a huge help to
the economies of all the gold-producing countries of

In addition to laying out an action plan that all of
the attendees would pursue to flush out the truth about
the gold market, we would alert them to the endgame of
the gold cartel.

The gold loans and gold derivative positions are so
large now that it can end only in a gold price
explosion or the delivering of gold by various
countries, the International Monetary Fund, and others.

Of course, the people of the countries that might lose
their gold will not be too happy. I would think that
the currencies of those countries would not respond
very positively either. But Africa's leaders must be
aware that the gold cartel will try to put some sort of
positive spin on this if the second outcome happens.

Perhaps by raising this possibility in advance, we can
head off deceptive explanations at the pass and close
the bank end of the quot;enveloping horn.quot;

The bankers involved in the gold scam have orchestrated
the lowering of the gold price to benefit themselves at
the expense of Africa and free-market principles.

They must not be allowed to get away with it. Once
GATA, Reg Howe, and Frank Veneroso explain to an
African gold summit meeting what the gold cartel has
done, I am going to suggest that the African nations
call for financial reparations.

They will know we are right when either of these two
end-game scenarios is played out. The reparations to
Africa then could be directed to fighting the disease
and crime that have resulted from the crushing of the
fragile African economies. By then the gold price would
be soaring and already be an enormous boon for Africa.

This is no pipe dream; it is very doable. I shall be
working on it in the weeks to come.

In the meantime, there is something every GATA
supporter can do to help win the day.

U.S. Treasury Secretary Paul O' Neill has until March
15 to respond to the judge handling the GATA/Howe
lawsuit in U.S. District Court in Boston. Comment he
receives from South Africa and GATA supporters all over
the world might affect his decision.

From Madi's Shaka book:

* * *

Shaka looked at me, his eyes blazing, and he smiled:
quot;Now I know how we will conquer all tribes in our path.
Today I have discovered something that will make
Dingiswayo smile in his grave.quot;

quot;What do you mean?quot; I inquired.

quot;You see these waves? You see why they are
unstoppable?quot; Shaka said as he pointed to the sea with
his spear. quot;From now onwards the Zulu army will be like
these waves. When we attack, we will not all attack at
the same time. We will have waves of warriors. Just as
the enemy thinks that he has worn us out, a new wave
will emerge and the enemy will have no time to regroup.
We will wear the enemy down with relentless waves of
attack until they give in.quot;

* * *

GATA will use the same tactic. That will be to write
Secretary O'Neill; the Bush administration's new head
of the Justice Department's anti-trust division,
Charles A. James; and politicians already aware of the
gold price manipulation issue.

The Bush administration in general and O'Neill in
particular must decide to let the chips fall where they
may regarding the gold scandal or try to keep it under
wraps because of the jeopardy to the financial
community. Unfortunately, the latter course will make
the new administration party to this injustice, and the
new administration will be rightly blamed when it all
blows up. How the Treasury Department responds to the
lawsuit may also be critical for the price of gold in
the very short term.

You might like to know that James is black and a
veteran anti-trust lawyer. While serving in the anti-
trust division James helped craft the $290 million in
fines, forfeitures, and compensation that Salomon Inc.
paid in 1992 to avoid criminal prosecution for its
illegal bidding in the treasury bond market.

To reach the treasury secretary, write:

Paul O'Neill, Secretary
U.S. Treasury Department
1500 Pennsylvania Avenue NW
Washington, D.C. 20220

To reach the anti-trust division of the Justice
Department, write:

Charles A. James
Office of Anti-Trust
U.S. Justice Department
950 Pennsylvania Ave.
Washington, D.C. 20530

Now is the time for every GATA supporter and believer
in free markets to write a heartfelt letter.

GATA hopes that these officials will receive thousands
of letters in our quot;wavequot; attack. It will take so little
time but could mean so much. Remember, Secretary
O'Neill must respond to the court by March 15. Price-
fixing violations are serious criminal offenses in the
United States. The manipulation of the gold price is
for Charles A. James to look into, as well as for GATA
and Reg Howe.

You might make the difference, so take 20 minutes of
your time and go for it!

And if you care to know more about the Shaka book,
information is available at:

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