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GATA press release publicizes Turk discovery of missing SDRs
4:25p ET Monday, August 13, 2001
Dear Friend of GATA and Gold:
Brien Lundin, executive editor of Gold Newsletter, has included
in his August issue some supportive commentary that we at
GATA especially appreciate because it recognizes the great
political and ethical purpose of gold in the world economy.
Lundin's commentary is reproduced below, with permission.
But Lundin's support goes much farther. He has invited GATA
to participate in the famous New Orleans Investment Conference,
of which he is chief executive. This year's conference will be
held from Wednesday, Nov. 28, through Sunday, Dec. 2, at the
Sheraton New Orleans Hotel -- which will be an especially fun
spot for those of us in the northern climes facing a new winter.
GATA supporters are eligible for a big discount on the
conference's registration fee, and the conference in turn will
make a substantial contribution to GATA for every GATA
supporter who registers and identifies himself that way.
To qualify for the discount on the conference registration,
just call the toll-free registration telephone number in Lundin's
commentary below, or register via the Internet at the address
he cites. Be sure to do so by the end of August, when the
discount expires, and be sure to identify yourself as a GATA
The fee for early registration is $595. Hotel room fees are as
low at $189 per night.
Besides GATA's leaders, speakers at the conference will
include some of the best known and respected people in the
financial world, including:
Larry Abraham, Mary Anne and Pamela Aden, Bob Bishop,
Doug Casey, Adian Day, James Dines, C.A. Greene, Steven
Hochberg, Stephen Leeb, Ian McAvity, Bob Meier, James
Powell, Paul Rabbit, Peter Ricchiuti, Lawrence Roulson,
Rick Rule, Mark Skousen, Mark Shousen, James Stack,
Porter Stansberry, Martin Truax, and Martin Weiss.
On top of that, Thomas B. Okarma, CEO of Geron Corp.,
will speak about some mind-boggling new developments
in biotechnology and anti-aging science.
After Aug. 31, the registration fee will be $895.
So GATA supporters can save $300 by registering as such
by the end of this month.
There will be a special reception and dinner for supporters
of GATA and and subscribers to www.LeMetropoleCafe.com
at the conference at 7 p.m. on Thursday, Nov. 29. GATA
Chairman Bill Murphy and I are looking forward to meeting
new and old friends there. We'll let you know the details of
Lundin's commentary is below.
As always, thanks for your support.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
GOLD PRODUCERS, ANALYSTS,
AND TRADE ORGANIZATIONS ROLL OVER
By Brien Lundin, Editor
I don't know if there's a full-fledged conspiracy to keep the
gold price down. Perhaps the high-jinks we've seen are
merely the result of a few powerful players who have
accidentally gotten themselves into the same bind.
Maybe it's just a case of everyone going short because
they can (i.e., the central banks are already quot;longquot; about
All I know for sure is that there has been some very
curious goings-on in the gold market. And perhaps the
most curious is the way the putative supporters of gold
-- the groups that you would think would want a higher
gold price -- are more concerned with protecting their
reputations from the supposed quot;conspiracy nuts,quot; or
even working against higher gold prices through
unrepentant hedging policies.
Major producers like Placer Dome, for instance, are
busy piling on new hedges that only help to depress
the price of the commodity they are producing. That's
not smart for the market, or the individual companies.
As Adrian Day brings to our attention, Placer is now
selling forward at lower prices than those at which
the company covered a little more than a year ago.
Placer is committed to a policy for which anyone else,
in any other industry, would be run out of the boardroom.
Even worse, most producers are signing on the World
Gold Council's abandonment of the investment case
of gold in favor of the promotion of gold as jewelry. This
is not only spineless, it is stupid.
These people simply don't understand the business
and the market they are in.
Gold is not just another commodity. It is the only
inspirational investment -- both a symbol of personal
freedom and a tool for obtaining it. Only monetary
demand, in which millions of investors choose gold in
preference to fiat currencies, can propel the price of
the metal higher in the long run.
The shame of it all is that there are such strong
arguments in favor of gold investment right now,
particularly the inevitable decline in the dollar. If the
World Gold Council were to devote even a small
portion of its bloated budget toward propagating
the facts behind gold as an investment, rather than
promoting the purchase of chains and bangles, it
could add $20 to $30 to the price in quick order.
Even if you don't believe in a conspiracy against
the gold price, I urge you to support the efforts of
Bill Murphy and everyone else connected to the Gold
Anti-Trust Action Committee (GATA). They may be
right or wrong on the conspiracy question, but they
are doing the best job right now of putting forth the
argument for gold as an investment. And that benefits
all gold investors.
To learn more about GATA, visit www.gata.com.
To register for the New Orleans Investment
Conference, where Bill Murphy and the GATA brain trust,
including James Turk and Frank Veneroso, will present
the powerful case for gold that everyone else seems to
be ignoring, call 800-648-8411 or go to: