World Gold Council's Bullion Fund
Double-Counts Gold Bars, GATA Says
GATA Press Release via Business Wire
December 6, 2004
More than 2 percent of the gold reported as the property
of the World Gold Council's new exchange-traded bullion
fund on the New York Stock Exchange (GLD) appears to
have been double-counted on account of duplicate serial
numbers on the fund's gold bars, the Gold Anti-Trust
Action Committee said today.
The duplication was discovered by GATA consultant
James Turk, editor of the Freemarket Gold & Money
Report and founder of the GoldMoney gold depository
and Internet-based gold payment system. Turk
examined the bar list reported to investors by the fund.
In today's statement, GATA argued that the duplication
of bar numbers deepens concerns about the adequacy of
the bullion fund's custodial and auditing arrangements.
"For years the suppression of the gold price and the
manipulation of the gold market have been facilitated by
the mystery that has been deliberately woven around the
leasing of gold and around gold custodianship generally,"
GATA said. "If the World Gold Council's bullion fund is
not to be suspected as another part of that manipulation,
the council must answer some questions urgently:
"-- Why does the bullion fund list ownership of duplicate
gold bars?
"-- Why have all the custodians and potential custodians
of the fund's gold not been identified?
"-- Why is the fund refusing to let its gold holdings
be fully and publicly audited?
"-- Is any of the fund's gold being leased, made
available for leasing, or encumbered in any way?
"-- Exactly what is the fund's relationship with the
Bank of England, a major lessor of gold?"
Turk's report on the duplication of serial numbers in
the bullion fund can be found on the Internet here:
http://news.goldseek.com/JamesTurk/1102312799.php [1]
Contact:
Chris Powell, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
GATAComm@aol.com [2]
----------------------------------------------------
To subscribe to GATA's dispatches, send an e-mail to:
gata-subscribe@yahoogroups.com [3]
To unsubscribe, send an e-mail to:
gata-unsubscribe@yahoogroups.com [4]
----------------------------------------------------
RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS
Free sites:
http://www.cbs.marketwatch.com [6]
http://www.gold-eagle.com/ [8]
http://www.goldreview.com/ [12]
http://www.capitalupdates.com/ [13]
http://www.DailyReckoning.com [14]
http://www.goldenbar.com/ [15]
http://www.silver-investor.com [16]
http://www.thebulliondesk.com/ [17]
http://www.sharelynx.com/ [18]
http://www.mininglife.com/ [19]
http://www.financialsense.com [20]
http://www.goldensextant.com [21]
http://www.goldismoney.info/index.html [22]
http://www.howestreet.com [23]
http://www.depression2.tv [24]
http://www.moneyfiles.org/ [25]
http://www.howestreet.com [23]
http://www.minersmanual.com/minernews.html [26]
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html [27]
http://www.goldcolony.com [28]
http://www.miningstocks.com [29]
http://www.mineralstox.com/ [30]
http://www.freemarketnews.com/ [31]
http://www.silverseek.com/ [33]
http://www.investmentrarities.com/ [34]
http://www.kuik.com/KH/KH.html [35]
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm [36]
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm [37]
(In English)
Subscription site:
http://www.lemetropolecafe.com/ [38]
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm [40]
Ted Butler silver commentary archive:
http://www.investmentrarities.com/ [34]
----------------------------------------------------
COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS
Blanchard & Co. Inc.
909 Poydras St., Suite 1900
New Orleans, Louisiana 70112
888-413-4653
http://www.blanchardonline.com/ [41]
Centennial Precious Metals
3033 East 1st Ave., Suite 403
Denver, Colorado 80206
www.USAGold.com [42]
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
cpm@usagold.com [43]
Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
www.ColoradoGold.com [44]
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net [45]
El Dorado Discount Gold
Box 11296
Glendale, Arizona 85316
http://www.eldoradogold.net [46]
Harvey Gordin, President
Office: 623-434-3322
Mobile: 602-228-8203
harvey@eldoradogold.net [47]
Investment Rarities Inc.
7850 Metro Parkway
Minneapolis, Minnesota 55425
http://www.gloomdoom.com [48]
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com [49]
Kitco
178 West Service Road
Champlain, N.Y. 12919
Toll Free:1-877-775-4826
Fax: 518-298-3457
and
620 Cathcart, Suite 900
Montreal, Quebec H3B 1M1
Canada
Toll-free:1-800-363-7053
Fax: 514-875-6484
http://www.kitco.com [50]
Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
www.certifiedcoins.com [51]
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com [52]
Miles Franklin Ltd.
3015 Ottawa Ave. South
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
http://www.milesfranklin.com [53]
Contacts: David Schectman,
Andy Schectman, and Bob Sichel
Missouri Coin Co.
11742 Manchester Road
St. Louis, MO 63131-4614
info@mocoin.com [54]
314-965-9797
1-800-280-9797
http://www.mocoin.com/ [55]
Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com [56]
Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com [57]
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com [58]
----------------------------------------------------
HOW TO HELP GATA
If you benefit from GATA's dispatches, please
consider making a financial contribution to
GATA. We welcome contributions as follows.
By check:
Gold Anti-Trust Action Committee Inc.
c/o Chris Powell, Secretary/Treasurer
7 Villa Louisa Road
Manchester, CT 06043-7541
USA
By credit card (MasterCard, Visa, and
Discover) over the Internet:
http://www.gata.org/creditcard.html [59]
By GoldMoney:
http://www.GoldMoney.com [60]
Gold Anti-Trust Action Committee Inc.
Holding number 50-08-58-L
Donors of $750 or more will, upon request,
be sent a print of Alain Despert's colorful
painting symbolizing our cause, titled "GATA."
GATA is a civil rights and educational
organization under the U.S. Internal Revenue
Code and contributions to it are tax-deductible
in the United States.