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Princeton Address Correction: http://www.pei-intl.com/TOPICS/READY:HTM
Hello GATA members,
GATA member Jim Bruce has been in sales, marketing, advertising and PR
for 47 of his 60 years. He has written to GATA offering his help. "I
Will be glad to offer suggestions with the purpose of holding folks
longer on our WEB site, attracting more bucks and more members. Negative
hype in the press leads to public misperception, which, as we have so
many time seen, results in price suppression. Without some form of shock
that shakes up the masses, gold will drop very soon. I believe there is
hope, however. GATA is our hope. But only if the effort is swift,
public and financially positive."
Jim thinks, and I agree, that GATA needs to be clearer about how mines
are contributing to screwing the price of gold through hedging. While
recognising the difficulties mining company's face (see *** PS), we
could produce a statement explaining why producers should go with the
price of gold rather than hedge, and send it around, with follow-up
calls to the CEOs.
Right. Any volunteers? for helping to produce the statement; for
providing the list of mines of mines to approach; for following up with
calls to the CEOs; in the U.S., South Africa, Australia, Canada,
elsewhere? Remember, we are ALL GATA volunteers.
So let's hear from you.
We also need offers of help with this next idea from Jim Bruce:
"Numismatists, Bullion and Coin Dealers, Grading Services: All have a
vested interest in rising gold prices," Jim writes. "Some have
newsletters, most of the large groups also have WEB sites. Pulling
these folks up on search engines like Yahoo should be easy. Coin
related newspapers and magazines are plentiful and starve for copy on
various subjects related to their market. Grading services like PCGS and
NCG are well connected in the investor grade coin industry. All need a
story related to the GATA purpose. Minimal effort should get a lot of
Is there anybody out there ready to search for good e-mail addresses
through Yahoo, Altavista and other search engines also of
editor/owners of gold websites?
In the meantime, GATA Secretary Chris Powell and I will write a really
good, strong standard letter/statement about the Gold Anti-Trust Action
to send out to the addresses you give us. Our statement needs to be good
enough to send to Steve Forbes, Matt Drudge and Orlin Grebbe also.
These are the headings for our statement, so far:
1. Who is GATA taking anti-trust action against?
3. How long has GATA been going?
4. What support does GATA have?
5. With what success so far?
6. What is GATA asking of you?
If there are other headings that you think should be included, and
special points that you want to see put across under these headings, let
We need to get it into our heads and take it to heart:
GATA IS A TEAM OF TWO HUNDRED STRONG
Here is an example of what I mean, from Jim Bruce's latest
communication: "You should be getting some new interest and members from
the biggest `bear' chat group on the net. After bringing it into the
subject of precious metals a half a dozen times, it's finally starting
to catch on. I'm setting up hot links into your site so the individual
simply double clicks on the link and he heads your way. Let's hope it
I know that it will help, Jim.
So let's all of us GO GATA, Go Gold.
Boudewijn Wegerif (Bodwin)
Moderator, GATA E-Mail Group.
PS: Here is Chris Powell's explanation as to why mining company's resort
to hedging -
"Two reasons are most common.
"First, a company could hedge its production -- sell it forward, or in
advance of taking it out of the ground and preparing it for sale -- to
raise cash for ordinary operations, or even for speculative investment
purposes, as many financial speculators have done by borrowing gold,
selling it, investing the cash elsewhere, and buying back the gold at a
lower price and making money on the short end as well as on the
investment of the cash raised.
Second, just like those speculators, a mining company may anticipate
declining metals prices and want to lock in current prices. Many mines
have done just this and have survived the decline in prices thereby. "