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Those responsible for the ''strong-dollar policy'' won''t say what it is

Section: Daily Dispatches

9:52p ET Friday, May 16, 2003

Dear Friend of GATA and Gold:

Here is the statement issued by Blanchard and Co. this week
about its lawsuit against Barrick Gold and J.P. Morgan Chase.
Blanchard says it has discovered that Morgan Chase has an
ownership interest in Barrick.

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

* * *

Blanchard and Co. Reveals Anti-Trust Violation
By Barrick and J.P. Morgan

NEW ORLEANS, May 15 -- Blanchard and Co. Inc., the largest
retail dealer in physical gold in the United States, filed
today with the U.S. District Court for the Eastern District
of Louisiana a motion for leave to supplement and amend their
anti-trust complaint to present new information further
supporting Blanchard's claim against Barrick Gold Corp. and
J.P. Morgan Chase amp; Co. These new filings include previously
undisclosed information about J.P. Morgan's ownership interest
in Barrick and Morgan's monopoly position in the in the U.S.
market for gold derivative contracts.

After numerous attempts by Barrick to discredit Blanchard's
case in the news media, Blanchard has brought motions to
compel information from Barrick and J.P. Morgan about their
joint efforts to manipulate gold prices and to share in the
spoils of that manipulation.

The TrizecHahn Revelation

TrizecHahn Corp. was formed in 1996 from the merged interests
of Argo Partnership L.P. (a J.P. Morgan amp; Co./J.W. O'Connor
fund) and Horsham Corp. This newly formed corporation included
several directors present on Barrick's board as well as its
chairman, Peter Munk. Through this combination, TrizecHahn
became the controlling shareholder in Barrick Gold.

Also in 1996, according to SEC records, J. P. Morgan Capital
Corp.'s managing director, Thomas S. Quinn III, was named to
the Board of Directors of TrizecHahn and sat on its audit and
executive committees. J.P. Morgan became a beneficial owner
of Barrick through its controlling shareholder, TrizecHahn.

Blanchard and Co. CEO Donald W. Doyle, Jr., stated that
quot;Blanchard's discovery of the Argo Partnership documents
linking J.P. Morgan to a beneficial ownership interest in
Barrick helps to explain why J.P. Morgan provided Barrick
with derivative contracts that virtually guaranteed it a
risk-free profit. Even Barrick's chairman, Peter Munk,
recently stated that its 'hedging program' with J.P.
Morgan 'was almost too good to be true.' We believe J.P.
Morgan has benefited financially from its ownership of
Barrick, and from Barrick's manipulation of the price of

TrizecHahn (and its affiliates, including J.P. Morgan)
realized more than $1.3 billion in profits from Barrick
Gold stock.

-- Neal R. Ryan
Blanchard and Co. Inc.