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How government manipulates the gold price -- and how it worked Friday

Section: Daily Dispatches

9:29a ET Sunday, October 5, 2003

Dear Friend of GATA and Gold:

Jim Puplava interviews John Embry, president of Sprott
Asset Management in Toronto and manager of Sprott's
precious metals fund, and Stefan Spicer, CEO of Central
Fund of Canada, the gold and silver bullion fund, on
the latest edition of the quot;Financial Sense Newshour.quot;

Embry endorses GATA's finding about the gold market
and makes two points likely to be of special interest
to gold bugs:

-- Central banks may become more a positive than a
negative for the gold price, since not much central bank
gold is left in the vaults of the banks that have been
lending it, and Asian central banks are likely already
buying gold quietly to hedge their huge and growing
reserves of devaluing U.S. dollars.

-- Because of globalization, gold is unlikely to be
outlawed, and outlawing gold in the United States
probably would only spur demand for it elsewhere.

You can listen to the interview here:

a href=http://www.financialsense.com/Experts/roundtable/100403.htmhttp://www.fi...

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

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