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WorldNetDaily reports about GATA lawsuit
By Bill Murphy, Chairman
Gold Anti-Trust Action Committee Inc.
Friday, December 15, 2000
The story on the front page of today's edition of the Toronto
Globe and Mail about our lawsuit against suppression of the
price of gold has finally put us in the mainstream in Canada.
Reaction has been extraordinary, as the Globe and Mail is
a national newspaper and spans coast to coast in that
great gold- and commodity-producing country.
It is very important that we build momentum with this. It
would be a big help to GATA if you could mail, email, or
fax the Globe and Mail story to other news organizations
of your choice. It is often the case that once one journalist
breaks the ice on a controversial story, others will follow suit.
It was just brought to my attention that the following
story appeared yesterday at www.stockscape.com.
* * *
Gold bugs need an elixir of courage
to take on U.S. government
By Carlos Marticorena
Staff Writer, Stockscape.com
December 14, 2000
Gold bugs, led by Bill Murphy's Gold Anti-Trust
Action Committee (GATA), have been crying foul over
an quot;X Filesquot;-type conspiracy to suppress the price
of gold. Lackluster gold demand during the
typically strong Christmas season has strengthened
GATA's resolve to expose the collusion.
As media exposure has done little to help the
market, gold market analyst Reginald H. Howe is
putting his money where his mouth is and is filing
suit against the Bank for International Settlements
(BIS) and the U.S. Treasury Department.
The lawsuit charges the defendants with price
fixing, securities fraud, and breach of fiduciary
duty. Furthermore, key government officials are
accused of exceeding their constitutional
Howe is a BIS shareholder as well as a Boston-
area lawyer. He asserts that the BIS is seeking to
pay its shareholders less than fair value for
their shares. Moreover, Howe maintains that the
BIS is playing a central role in coordinating the sale
and leasing of gold and the sales of derivatives
to keep the price of gold artificially low.
The suit has obviously won the full endorsement
of Bill Murphy, GATA founder. quot;Mining companies,
their employees and shareholders, and developing
countries have been ruined by the manipulation of
the gold market, and it has prompted ordinary
investors around the world to put their savings
at greater risk than they would have done
otherwise. Meanwhile certain Wall Street interests
have made billions from this manipulation.quot;
Howe and Murphy, dizzy with gold fever, seem
undaunted by the magnitude of their undertaking.
Defendants in the case include Alan Greenspan,
chairman of the Federal Reserve Board; William J.
McDonough, president of the Federal Reserve Bank
of New York; Lawrence H. Summers, secretary of the
treasury; and J.P. Morgan amp; Co. Inc., Chase
Manhattan Corp., Citigroup Inc., Goldman Sachs
Group Inc., and Deutsche Bank AG.
Still a bit tipsy with adrenaline, Murphy enthused
that quot;with this lawsuit, we hope to mobilize the
gold industry and gold shareholders around the
world to help us restore a free market.quot;