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MineWeb reports on Vancouver conference, and two more Sinclair commentaries

Section: Daily Dispatches

10:14p ET Wednesday, June 11, 2003

Dear Friend of GATA and Gold:

A longtime supporter of GATA wrote today in near-
despair at the pounding gold took Tuesday. The
manipulation of the gold market and other markets
is so brazen now, he said, but what can we ever do
to stop the bad guys?

All I could answer was that GATA would continue
to do what it has been doing for four years now,
would continue to try to expose the bad guys and
the bad things they do, to get the attention of the
news media and the political and legal authorities,
and eventually no one will be taking the other side
of the bad guys' trades and the rig will collapse.

Our side's best technical analyst, Jim Sinclair,
has put it another way: Beat the bums by running
their own trades ahead of them.

Of course few of us are nimble enough to be traders
like that, so we may just have to wish Sinclair the
best in such undertakings as we muddle on trying to
stay true to our principles and world-view.

But good things ARE happening for our side. As you
may have noted from GATA's dispatch of Tuesday ...

a href=

... Blanchard amp; Co.'s federal lawsuit against Barrick
Gold and Morgan Chase, picking up where GATA
consultant Reg Howe's federal lawsuit left off, is
making good progress and has even elicited Barrick's
confession that it and Morgan Chase are the agents
of the central banks in controlling the gold price.
And this evening GATA learned that today's edition of
Richard Russell's Dow Theory Letters (available
only by subscription at a href=http://www.dowtheoryletters.com
distributed the full text of Tuesday's GATA dispatch
about Barrick's confession, which had been provided
to Russell by a subscriber to GATA Chairman Bill
Murphy's Internet site of financial commentary
(a href=http://www.LeMetropoleCafe.com

While Dow Theory Letters may not have quite the
reach of the Wall Street Journal or New York Times
-- which, financed so heavily by the Wall Street
financial houses, strive mightily to avoid reporting
what is really happening in the world economy -- it
may be the best-regarded financial newsletter in
the United States, as well as the financial newsletter
with the longest single proprietorship, having been
started by Russell in 1958. Few financial observers
are as respected ... and here he is suddenly spreading
the GATA story to highly placed investors and
financial observers all around the world.

GATA and gold are not in Kansas anymore, even if
we hope to be escorting the market riggers to

A few months ago the most successful mutual fund
manager in the world in 2002, John Embry of RBC
Global Investments, now president of Sprott Asset
Management in Toronto, told a national television
audience in Canada that GATA was right about the gold
market and that he had been basing investment
decisions on GATA's research. Russell has been slower
in acknowledging the manipulation of the gold market,
but his commentaries over the last few months have been
raising the question, and his newsletter's inclusion
today of Tuesday's GATA dispatch may be taken as a
bit of an endorsement.

Word IS getting out that the emperor is naked, and
more and more people ARE saying so, or at least
hinting at it. GATA will keep helping them along
no matter how dark things seem.

After all, things have been far darker than they
are now.

On a day of terrible battlefront reverses for
Britain in 1941, the Swedish ambassador asked
Prime Minister Winston Churchill just how he
expected his country to win the war, what with
everything going so badly. In reply Churchill told
a little story:

quot;Once upon a time there were two frogs, Mr. Optimist
Frog and Mr. Pessimist Frog. One evening the two
frogs hippety-hopped across the meadow, enchanted
by the smell of fresh milk from a dairy. They hopped
through the dairy window and plopped right into a
pail of milk.

quot;The pail's sides were too steep. Mr. Pessimist
Frog soon gave up and sank to the bottom. But Mr.
Optimist Frog took courage and began thrashing
around, hoping to get out somehow. He didn't know
exactly how, but he wasn't going to give up without
a fight. He churned around all night, and by morning
-- oh joy! -- he was floating on a pat of butter.quot;

After taking a puff on his ever-present cigar,
Churchill concluded simply, quot;I am Mr. Optimist Frog.quot;

To which GATA adds: Ribbit, you bastards! Ribbit!

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


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