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Fuggedaboudit: Everybody already knows there's no gold!
8:45p ET Tuesday, April 27, 2010
Dear Friend of GATA and Gold:
GATA board member Adrian Douglas cautions against any enthusiasm arising from Business Insider's disclosure tonight of the International Monetary Fund's defiance of questions about its supposed gold reserves.
In response to the Business Insider report, Douglas expects a quick posting at FinancialSense.com by CPM Group founder and U.S. Commodity Futures Trading Commission hearing witness Jeffrey M. Christian to this effect:
"Everybody has known for years that the International Monetary Fund has no gold. In fact, everybody knows that the Western central banks have no gold.
"Everybody knows that there is really no gold in Fort Knox.
"Everybody knows that all gold IOUs have no backing.
"But there is no fraud here because even if everyone asks for their gold at the same time and there isn't any to deliver to them, there is always the option for cash settlement."
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy Resource Corp. Appoints Rob McEwen to Advisory Board
Prophecy Resource Corp. (TSX.V: PCY, OTC: PCYRF) is pleased to announce the appointment of Rob McEwen to the company's Advisory Board. McEwen is a leading Canadian mining industry entrepreneur. He is the chairman and CEO of U.S. Gold Corp. and Minera Andes Inc. McEwen was the founder and former chairman and CEO of Goldcorp Inc., whose Red Lake Mine in northwestern Ontario, Canada, is considered to be the richest gold mine in the world. During his tenure at Goldcorp, McEwen transformed the company from a collection of small companies into a mining powerhouse, growing its market capitalization from $50 million to approximately $8 billion.
For Prophecy Resource Corp.'s complete statement:
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Anglo Far-East Bullion Co., the Original Private Bullion Custodian
For two decades Anglo Far-East Bullion co. has been providing select international clientele the highest degree of privacy, security, and access to buy, hold, and sell allocated gold and silver bars.
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