4:58p ET Monday, December 23, 2002

Dear Friend of GATA and Gold:

Our friend Dr. Richard S. Appel, publisher of the
excellent Financial Insights newsletter, has an
essay at Kitco arguing that the fates of gold, silver,
and the dollar have been sealed by the recent
anti-deflation comments of Federal Reserve officials.
Here is one more close observer of the Fed who has
concluded that a big change in policy is under way.
You can find the essay here:

a href=http://www.kitco.com/ind/Appel/dec232002.htmlhttp://www.kitco.com/ind/Ap... [1]

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

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