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Antal Fekete explains free coinage of gold -- to New Zealanders

Section: Daily Dispatches

10:40p ET Thursday, October 29, 2009

Dear Friend of GATA and Gold:

OK, maybe American broadcasting and cinema have not been concocted by the Federal Reserve to anesthetize the country and most of the world to their expropriation by the New York financial houses. But it seems that you still have to go to tiny (if incomparably beautiful and strange) New Zealand at the bottom of the world to hear the economist and monetary historian Antal Fekete talk about what's wrong with the world financial system.

On his way to a presentation at the Gold Standard Institute in Canberra, Australia, Fekete gave a couple of interviews in New Zealand this week -- one on Radio New Zealand, the other on the New Zealand national television station TV3. He argued not for a gold standard but for free coinage of gold, whereby the government mint would receive raw metal from anyone and return it to him in untaxed coin, thus facilitating the transfer of the public's wealth from fiat currency into commodity currency whenever the former seemed likely to lose value. Fekete's idea seems pretty close to what GATA has long advocated, a free market in the precious metals.

Fekete's interview with Radio New Zealand is about 12 minutes long and you can listen to it here:

Fekete's interview with TV3 is about five minutes long and you can watch it here:

TV3's program schedule discloses that among the station's other offerings to New Zealanders are "CSI Miami," "The Simpsons," and "America's Next Top Model." This really is going too far. Don't they have any pretty girls of their own Down Under and Off to the Side?

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

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