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Bron Suchecki: GLD worries about failure of unallocated gold

Wed, 07/16/2014 - 11:09

10:08a ET Wednesday, July 16, 2014

Dear Friend of GATA and Gold:

The Perth Mint's Bron Suchecki reports that gold exchange-traded fund GLD is proposing an amendment to its procedures that expresses concern about the reliability of unallocated gold.

Suchecki writes: "Why the need to clarify this now? Is there something the World Gold Council (which sponsors GLD) knows about the state of the market that didn't exist before?"

Suchecki's commentary is headlined "GLD Amendment Refers to 'Unforeseen Reasons' for Unallocated Failure" and it's posted at his blog, Gold Chat, here:

http://goldchat.blogspot.com/2014/07/gld-amendent-refers-to-unforeseen.h...

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

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http://www.goldmoney.com/?gmrefcode=gata


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Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

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Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Koos Jansen: A new global currency setup is being conceived

Wed, 07/16/2014 - 09:44

8:40a ET Wednesday, July 16, 2014

Dear Friend of GATA and Gold:

Chinese speakers at the London Bullion Market Association forum in Singapore last month connected gold with creation of a new world currency system, gold researcher and GATA consultant Koos Jansen writes today, but the LBMA seems to be hiding their presentations. Jansen's commentary is headlined "ICBC: A New Global Currency Setup Is Being Conceived" and it's posted at Bullion Star here:

https://www.bullionstar.com/article/icbc%20a%20new%20global%20currency%2...

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

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For more information, please visit Bullion Star here:

https://www.bullionstar.com/

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Casey Research 2014 Summit
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Friday-Sunday, September 19-21, 2014

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Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

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Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

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GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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http://www.gata.org/node/16

The more obvious they are, the closer the day of deliverance

Wed, 07/16/2014 - 00:40

11:50p ET Tuesday, July 15, 2014

Dear Friend of GATA and Gold:

With the only news today that seemed to have any bearing on the gold price being bullish -- Federal Reserve Chairwoman Janet Yellen's testimony to a Senate committee that interest rates will remain low long after the current round of "quantitative easing" ends --

http://www.bloomberg.com/news/2014-07-15/yellen-says-high-degree-of-easi...

-- how could gold futures prices be smashed for $25 out of the blue?

Maybe the best general financial letter in the world, Bill King's The King Report, published by M. Ramsey King Securities in Blue Ridge, Illinois --

http://www.thekingreport.com/

-- nailed it in today's edition, which arrived in subscriber e-mailboxes at 1 this morning Eastern time. King wrote: "The gold debacle on Monday also smells of a scheme to push gold to or below $1,300 for expiration." Futures option expiration, that is.

... Dispatch continues below ...


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Or maybe the smashing was the moral support for the dollar that is often bestowed by a big market player when a Fed chairman is speaking to Congress. The U.S. government can hardly want the currency market to hiss and jeer her testimony and for gold to hit her in the face with a cream pie mid-sentence, and the government has mechanisms ever-ready to prevent such humiliation, like the Treasury Department's Exchange Stabilization Fund, fully and long authorized by law to trade secretly at any time not just in the gold and currency markets but in any markets at whatsoever:

http://www.treasury.gov/resource-center/international/ESF/Pages/esf-inde...

At least today's smashing does not seem to have been a matter of panicking by ordinary gold investors all at once any more than was the biggest gold futures smashing in history, that of April 12 and 15, 2013.

Rather today was another anomaly, an ambush -- and dispiriting as it was to gold investors, like the other ambushes it may convey important information.

First, it may signify that powerful forces are determined to suppress the price of gold while central banks are striving to devalue their currencies and their countries' unpayable debts -- striving to bolt shut the exits from a financial system that would be destroyed by the restoration of free markets. Gold price suppression, documented extensively by GATA here --

http://www.gata.org/taxonomy/term/21

-- is a major element of the government policy that even former central bankers themselves now call "financial repression":

http://www.gata.org/node/10839

And second, it may signify, as the monster smashes of April 2013 did, that the forces of "financial repression" no longer care about getting caught, that they are not afraid about being obvious -- or, rather, that they are much more frightened about something else, much more frightened that markets so long manipulated and twisted out of shape will explode out of control and overthrow "financial repression" and the absolute power of government.

The more obvious the forces of "financial repression" are, the closer the day of deliverance.

"Ye shall know the truth," scripture says, "and the truth shall make you free." Of course scripture doesn't say exactly when we'll know. If it did, the world would be without virtue.

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

* * *

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
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New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Rule glad that resource firms are out of favor, pitches conference in Vancouver

Tue, 07/15/2014 - 23:40

10:41p ET Tuesday, July 15, 2014

Dear Friend of GATA and Gold:

Patience will be rewarded in the resource sector, particularly for "leveraged" companies, companies whose profitability depends on rising resource prices, Sprott U.S. Holdings Chairman Rick Rule says in an interview with Henry Bonner for the Sprott Global Internet site. Rule adds that he is delighted that such companies are so out of favor.

The interview is headlined "Will Gold, Silver Continue Higher in 2014? -- Rick Rule" and it's posted at Sprott Global here:

http://sprottglobal.com/thoughts/articles/resource-market-is-in-good-sha...

Rule also makes a pitch for the first Sprott Vancouver Natural Resource Symposium, to be held Tuesday through Friday, July 22-25, at the Fairmont Hotel Vancouver. Among the speakers will be mining entrepreneur Robert Friedland; Frank Holmes of U.S. Global Investors; Doug Casey, Jeff Clark, Louis James, and Marin Katusa of Casey Research; Eric Coffin of the Hard Rock Analyst; mining analyst Brent Cook; market analyst and fund manager Adrian Day; Bill Bonner and Byron King of Agora Financial; Paul van Eeden of Cranberry Capital; and many more.

Information about the conference is here:

http://sprottsymposium.com/event27

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

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Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

With gold running out, Sprott expects a delivery failure

Tue, 07/15/2014 - 23:23

10:17p ET Tuesday, July 15, 2014

Dear Friend of GATA and Gold:

In a two-part interview today with King World News, Sprott Asset Management CEO Eric Sprott explains why he thinks the gold available for price suppression is running out --

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/15_Bi...

-- and why he expects a delivery failure to trigger a big change in the market:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/15_Bi...

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


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http://fmturl.com/gata/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Jim Sinclair: Popular delusions and the madness of the crowd

Mon, 07/14/2014 - 23:41

By Jim Sinclair
JSMineSet.com
Monday, July 14, 2014

Manipulation such as the sale of $1.3 billion worth of paper gold at an illiquid time today is not to protect the dollar or bull the general equity market. It is to make money for the manipulators that want to cover their shorts here and begin to expand their long positions. That sale was a pure construct as there was no news to sustain the sell or to initiate it in the time span of its occurrence. ...

... For the full commentary:

http://www.jsmineset.com/2014/07/14/popular-delusions-and-madness-of-the...

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Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Turk on monetary metals paper smash: It's tough living with the irony

Mon, 07/14/2014 - 18:38

5:40p ET Monday, July 14, 2014

Dear Friend of GATA and Gold:

GoldMoney founder and GATA consultant James Turk, interviewed by King World News, discusses today's highly orchestrated paper smash in the gold and silver futures markets. "It is tough living with the irony of it all," Turk says. "There are record high prices everywhere except the gold price and the silver price. Many stocks, bonds, works of art, and real estate in many safe havens around the world are already at historic highs. But it will change."

Turk's comments are excerpted at the KWN blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/14_Ja...

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

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Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage is FREE until 2016 and will have the most competitive rates in the industry thereafter.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Koos Jansen: Demand on Shanghai Gold Exchange remains steady

Mon, 07/14/2014 - 16:16

3:15p ET Monday, July 14, 2014

Dear Friend of GATA and Gold:

Withdrawals from the Shanghai Gold Exchange for the week ending July 4 were very close to withdrawals for the previous week, continuing at a rate that, annualized, would reach 1,900 tonnes, according to gold researcher and GATA consultant Koos Jansen's report today. But, Jansen writes, Shanghai gold has been trading at a slight discount to London gold, indicating no shortage in China at the moment. Jansen's analysis has begun to be posted at the Bullion Star Internet site --

https://www.bullionstar.com/article/chinese%20gold%20demand%20973%20my%2...

-- but his previous analyses will remain posted at his own Internet site, In Gold We Trust, here:

http://www.ingoldwetrust.ch/

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

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New from GoldCore:
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GoldCore now offers a price match guarantee -- the company will match prices offered by bullion dealers internationally. The guarantee applies on all orders over $10,000 and on all popular coins (Sovereigns, Eagles, Maples, Krugerrands, etc.) and bars. GoldCore remains highly competitive and its prices are among the best in the industry.

To take advantage of this price match guarantee and GoldCore's already low premiums, please email info@goldcore.com or telephone our trading desk:

International: +353 (0)1 632 5010. UK: +44 (0)203 086 9200. US: +1 (302)635 1160.

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Sprott's Embry, MineWeb's Williams criticize Casey's claim to omniscience

Mon, 07/14/2014 - 15:12

2:18p ET Monday, July 14, 2014

Dear Friend and GATA and Gold:

Sprott Asset Management's John Embry and MineWeb's Lawrence Williams today criticize Casey Research founder Doug Casey's assertion last week that complaints of gold price suppression are "ridiculous."

"I take that as a personal affront," Embry says in an interview with King World News. "I've been around markets on a day-to-day basis longer than he has, and I can guarantee you I can identify a market that is being manipulated. And both the gold and silver markets are classic examples of manipulated markets."

Embry's comments are excerpted at the KWN blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/14_Em...

Williams writes that Casey's disparagement comes "despite GATA's evidence to the contrary suggesting that some central banks may indeed be supporting some form of suppression, at least from time to time, to protect currencies."

... Dispatch continues below ...


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Williams' commentary is headlined "Are We Due for Another Massive Gold and Silver Price Smash?" and it's posted at MineWeb here:

http://www.mineweb.com/mineweb/content/en/mineweb-gold-analysis?oid=2473...

GATA has given Casey, in person and by e-mail, much of the official documentation of gold price suppression that is compiled in our archive here --

http://www.gata.org/taxonomy/term/21

-- but as far as we can tell, he has never looked at, responded to, or disputed any of it. He would not be alone in this respect, since many pundits consider themselves omniscient and figure that if they don't already know something, it can't be happening.

This supposed omniscience may be of great comfort to those who are engineering all sorts of stuff that is happening but would be a lot harder to engineer if more people knew about it.

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

* * *

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Investigators needn't have left Washington to search for forex riggers

Mon, 07/14/2014 - 14:20

Junior Traders Offered Immunity in Forex Probe

By Daniel Schafer and Caroline Binham
Financial Times, London
Monday, July 14, 2014

U.S. prosecutors are offering immunity deals to junior traders in London as they try to gather evidence against banks and more senior staff in the investigation into alleged currency market manipulation.

U.S. Department of Justice staff have flown to the U.K. in recent weeks to interview foreign exchange traders, who have been offered partial immunity in exchange for volunteering information about superiors, people familiar with the situation said. ...

... For the full story:

http://www.ft.com/intl/cms/s/0/ac8c466c-0754-11e4-b1b0-00144feab7de.html

ADVERTISEMENT

Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata

Yellen tells magazine Fed's easy money will be needed even after recovery

Mon, 07/14/2014 - 14:00

By Jonathan Spicer
Reuters
Monday, July 14, 2014

The Federal Reserve will still need to deliver "unusually accommodative" monetary policy even once the U.S. economy returns to "where we want it to be," Fed Chair Janet Yellen was quoted as saying in a magazine article.

The New Yorker, which interviewed Yellen three times in the last few months, in its July 21 issue quoted her as saying the economy still faced headwinds.

"And so even when the headwinds have diminished to the point where the economy is finally back on track and it's where we want it to be, it's still going to require an unusually accommodative monetary policy," she is quoted as saying in the article that stresses Yellen's role as public servant. ...

... For the full story:

http://www.reuters.com/article/2014/07/14/usa-fed-yellen-idUSL2N0PP0M020...

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Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Ted Butler: The silver conspiracy

Mon, 07/14/2014 - 13:50

12:45p ET Monday, July 14, 2014

Dear Friend of GATA and Gold:

Silver market analyst and manipulation whistleblower Ted Butler's new commentary acknowledges that the manipulation of the silver market likely involves the U.S. government in a conspiracy with the investment houses that run huge short positions in the metal. Butler's commentary is headlined "The Silver Conspiracy" and it's posted at GoldSeek's companion site, SilverSeek, here:

http://www.silverseek.com/commentary/silver-conspiracy-13373

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

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Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

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Silver mining stock report for 2014 comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/

GoldSeek Radio's Chris Waltzek interviews GATA Chairman Bill Murphy

Sun, 07/13/2014 - 23:34

10:31p ET Sunday, July 13, 2014

Dear Friend of GATA and Gold:

GoldSeek Radio's Chris Waltzek this week interviewed GATA Chairman Bill Murphy about what seem like the increasing difficulties of the gold cartel -- signs that price suppression may be coming to an end. The interview is 10 minutes long and begins at the 9:13 mark here:

http://news.goldseek.com/radio/1405299600.php

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

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New from GoldCore:
A Price Match Guarantee On All Popular Coins and Bars
GoldCore now offers a price match guarantee -- the company will match prices offered by bullion dealers internationally. The guarantee applies on all orders over $10,000 and on all popular coins (Sovereigns, Eagles, Maples, Krugerrands, etc.) and bars. GoldCore remains highly competitive and its prices are among the best in the industry.

To take advantage of this price match guarantee and GoldCore's already low premiums, please email info@goldcore.com or telephone our trading desk:

International: +353 (0)1 632 5010. UK: +44 (0)203 086 9200. US: +1 (302)635 1160.

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

John Dizard: US dollar-clearing rules make gold the new green

Sun, 07/13/2014 - 17:25

By John Dizard
Financial Times, London
Friday, July 11, 2014

http://www.ft.com/intl/cms/s/0/feedf9cc-08e0-11e4-8d27-00144feab7de.html...

Pecunia non olet. (Money has no smell.) -- Emperor Vespasian (69-79) to his son, Titus, when Titus protested a tax on urine.

* * *

There is a fresh wind behind the dollar price of gold, which is also increasing the reported and unreported volumes of physical trading in the metal.

Thanks to what one (non-banker) friend of mine calls the "dangerously stupid" punitive actions and fines levied on banks using the international dollar clearing system by the US government, the world is finding ways to get along without the dollar.

It is a difficult and expensive process, as the transaction costs of the dollar system have been so low, liquidity so great, and the range of instruments so convenient. Alternatives, such as the euro or the Chinese renminbi, have been less universalistic and flexible. Also, investing or paying for the exchange of goods and services in euros, Swiss francs, sterling, or renminbi is accompanied by almost as many intrusive compliance rules and oversight as one finds in the dollar world.

... Dispatch continues below ...


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GoldCore now offers a price match guarantee -- the company will match prices offered by bullion dealers internationally. The guarantee applies on all orders over $10,000 and on all popular coins (Sovereigns, Eagles, Maples, Krugerrands, etc.) and bars. GoldCore remains highly competitive and its prices are among the best in the industry.

To take advantage of this price match guarantee and GoldCore's already low premiums, please email info@goldcore.com or telephone our trading desk:

International: +353 (0)1 632 5010. UK: +44 (0)203 086 9200. US: +1 (302)635 1160.

Arguably, gold is the most expensive and least convenient of all of the monetary alternatives to the dollar. It is very heavy to carry and often has to be re-assayed by the person accepting it as payment, since there is often a lack of trust among participants in the off-the-books transactions that use it. Not many transactions or investments are actually invoiced in gold as such; instead gold is used as the settlement medium rather than for the price quotation.

Yet its popularity as a medium of exchange for international transactions has been soaring, particularly in the past few months as the impact of US government sanctions on non-fully compliant banks has become severe.

Since the Bank for International Settlements, International Monetary Fund, and US Internal Revenue Service do not have systematic records of transaction volumes, I can only go by anecdotal information from people in the gold trade whom I have known for decades.

These are not traders trying to goose the price up by 50 cents in a day, or goldbugs looking for another $1,000 this year. They are risk-averse business people who need to meet customer demands and keep a carefully hedged book. An increase in the use of gold to settle transactions leads to a widespread rise in demand for physical metal held by reliable counterparties in secure vaults in locales considered safe from confiscation by a vengeful Justice Department.

Now I would not argue that the banks that have been subject to fines and other sanctions by the US government are innocent. They are not. The form of their punishments, though, seems somewhat self-destructive for the government, considering what had been its long-term interest in collecting a steady, predictable and bearable tax on the commerce and wealth of the rest of the world by encouraging use of the dollar payments system.

As Vespasian was trying to tell his son, payments systems, starting with coin mints, have been a way of bringing value into the realm of state control, including metal or other forms of money that were not originally legitimate, or savoury, or that came from another state. The US government, in effect, is saying, "We do not want you to use the dollar payments system to collect money from those at or beyond the edge of legitimate society and use it to buy US securities. We will just confiscate that money from banks when we need it, at unpredictable times, using regulations that may be hard to reconcile with each other. But we do not care."

I am not sure this is a superior business model from the point of view of the government itself, but it is what they are doing. Even the gold dealers profiting from the shift to gold-based stores of value and clearing mechanisms think this leads to a less safe world. But one adapts.

So gold in the form of the traditional 400-ounce London good delivery bars is flown to Switzerland, where it is melted and refined into kilo and sub-kilo bars. Then it is flown, say, to Istanbul, Dubai, Shanghai, or Singapore, where it goes into a secure vault owned and operated by some family who have been in the business for a few hundred years.

Then, let us say, someone at an oil-loading port in the region, on recording the delivery of a tanker load, will phone the banker of the supplier (near an Iraqi border, wherever those are today) to work out payment terms. Then the buyer will call a gold banker, who will shift bullion bars from one side of a vault to the other side.

This is far more trouble, and incurs far higher fees, than going through some service such as SGS and settling a transaction through, say, JPMorgan's correspondent bank, that is ultimately settled in Fed funds posted in New York.

But it is less expensive than having dollar cash balances frozen indefinitely, or having one's dollar clearing bank covering fines through interest rate margins or service fees.

As a US taxpayer, I would much prefer that the government bring in the necessary revenues through broader, efficient and predictable taxation, or borrowing through the banking system, not confiscating its capital. It makes America look bad.

* * *

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

ADVERTISEMENT

New from GoldCore:
A Price Match Guarantee On All Popular Coins and Bars
GoldCore now offers a price match guarantee -- the company will match prices offered by bullion dealers internationally. The guarantee applies on all orders over $10,000 and on all popular coins (Sovereigns, Eagles, Maples, Krugerrands, etc.) and bars. GoldCore remains highly competitive and its prices are among the best in the industry.

To take advantage of this price match guarantee and GoldCore's already low premiums, please email info@goldcore.com or telephone our trading desk:

International: +353 (0)1 632 5010. UK: +44 (0)203 086 9200. US: +1 (302)635 1160.

9:50a ET Friday, July 11, 2014

Dear Friend of GATA and Gold:

The growing likelihood that banks will be rescued not by governments but by "bail-ins" by their depositors may hasten the conversion of unallocated gold accounts to allocated gold accounts and put upward pressure on the gold price, GoldMoney research director Alasdair Macleod writes today. His commentary is headlined "Unwinding Unallocated Gold Accounts" and it's posted at GoldMoney here:

http://www.goldmoney.com/research/analysis/unwinding-unallocated-gold-ac...

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

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Jim Sinclair plans gold investing seminar
in Seattle on Saturday, July 12

Gold advocate and mining entrepreneur Jim Sinclair will hold his next gold investing seminar from 1 to 5 p.m. on Saturday, July 12, at the Hilton Seattle hotel, 1301 6th Ave., Seattle, Washington. Admission will be $100. For more information, please visit:

http://www.jsmineset.com/qa-session-tickets/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Join GATA and help question Greenspan at the New Orleans conference

Sat, 07/12/2014 - 15:03

2:10p ET Saturday, July 12, 2014

Dear Friend and GATA and Gold:

GATA again will have a big part in this year's New Orleans Investment Conference, to be held Wednesday through Saturday, October 22 to 25, what with GATA Chairman Bill Murphy and your secretary/treasurer speaking and former Federal Reserve Chairman Alan Greenspan appearing as well and responding to questions about gold.

Additionally, the conference has generously offered to pay GATA a commission for every GATA supporter who registers for the conference.

So please read the commentary appended here by conference organizer Brien Lundin, published in this week's edition of his Gold Newsletter, and use the special registration link at the bottom, which will identify you as a GATA supporter.

No conference venue is more fun and convenient than that of the New Orleans Investment Conference: the Hilton New Orleans Riverside hotel, adjacent to the famous New Orleans Riverwalk, across the street from Harrah's casino, and a short walk from the French Quarter and Jackson Square.

Here's hoping to see many of you in New Orleans in October.

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

* * *

By Brien Lundin
Gold Newsletter Alert 746
Thursday, July 10, 2014

https://jeffersoncompanies.com/

If you have any hope of attending this year's blockbuster 40th Anniversary New Orleans Investment Conference, you'd better act soon.

We've just finalized the participants on our panel with Alan Greenspan, and I'm pleased to announce that Porter Stansberry and Dr. Marc Faber will be joining the "Maestro" for a frank and stimulating discussion on gold, the economy, the role of the Fed and other central banks in both, and much, much more.

To say this panel will be frank might be the understatement of the year. There is truly so much about the Fed that we don't know, including how, when, and why it manipulates various investment markets. And neither Stansberry nor Faber are known for holding their tongues.

Dr. Greenspan has promised to be open and candid on this panel, as well as in another presentation in which he simply takes questions and answers from our moderator and the audience.

... Dispatch continues below ...


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I'm sure you realize how historic this opportunity will be.

Finally, we'll get the answers that have always eluded us.

I'm extremely curious as to how one of the most radical and eloquent of gold bugs, a man who was a key member of Ayn Rand's inner circle in the 1960s, ended up pulling the levers controlling the world's largest economy.

And of course this is just the start. In addition to Greenspan's presentations, we'll have a scintillating debate pitting renowned conservative commentator Dr. Charles Krauthammer against arch-libertarian Doug Casey. They'll be joined by a noted liberal representative, to be named later.

We'll also feature dynamic individual presentations by Krauthammer, Stansberry, Casey, and Faber, as well as Peter Schiff, Rick Rule, Robert Prechter, Frank Holmes, Mark Skousen, Mary Anne and Pam Aden, Adrian Day, Brent Cook, Nick Hodge, Ian McAvity, Eric Coffin, Chris Powell, Bill Murphy, Thom Calandra, Scott Gibson, and more.

Throw in our spectacular opening and closing receptions (including a very special retrospective panel) and other celebrations throughout the event, and you get something that we'll be talking about for many years to come.

But you may not be there to experience it all. That's because there's limited room in our host hotel, and our speakers are about to launch their promotions of this historic event to their subscriber lists.

And I'll let you in on a little secret: Stansberry's publishing group is the hottest and most influential in the business right now, and they're about to launch a full promotion of the New Orleans conference and Porter's participation on the Greenspan panel, to their entire list.

They could sell out the entire event all by themselves.

So you don't have months or even weeks to go before you lock in your place at this year's New Orleans conference. You have days at best.

I don't want your place at this historic event to be taken by someone who has never been to our conference or who isn't a valued Gold Newsletter subscriber. So please act now to secure a spot for you and your guests.

Click here to register online:

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Central bank policy is failing and metals are firming, Sprott says

Sat, 07/12/2014 - 10:59

10a ET Saturday, July 11, 2014

Dear Friend of GATA and Gold:

Central bank policy is failing to revive economies, in the United States part-time jobs are replacing full-time jobs, and the monetary metals are standing up well against enormous shorting in the futures market, Sprott Asset Management CEO Eric Sprott tells Jeff Rutherford of the Sprott Money News weekly market wrapup. It's 8 minutes long and can be heard here:

http://www.sprottmoney.com/sprott-money-weekly-wrap-up

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

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Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata

Gene Arensberg: Big silver shorts flinched last week

Sat, 07/12/2014 - 10:46

9:45a ET Saturday, July 12, 2014

Dear Friend of GATA and Gold:

The Got Gold Report's Gene Arensberg writes today that he thinks he saw the big shorts in silver flinch last week and still considers a short squeeze to be likely. His data-packed commentary identifies what he thinks are the major combatants in the silver futures market. Arensberg's commentary is headlined "Comex Silver Traders in Commitment of Traders Mexican Standoff, Short Squeeze Remains Likely" and it's posted at the GGR here:

http://www.gotgoldreport.com/2014/07/comex-silver-traders-in-commitments...

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

ADVERTISEMENT

New from GoldCore:
A Price Match Guarantee On All Popular Coins and Bars
GoldCore now offers a price match guarantee -- the company will match prices offered by bullion dealers internationally. The guarantee applies on all orders over $10,000 and on all popular coins (Sovereigns, Eagles, Maples, Krugerrands, etc.) and bars. GoldCore remains highly competitive and its prices are among the best in the industry.

To take advantage of this price match guarantee and GoldCore's already low premiums, please email info@goldcore.com or telephone our trading desk:

International: +353 (0)1 632 5010. UK: +44 (0)203 086 9200. US: +1 (302)635 1160.

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

CME, Thomson Reuters win competition to replace century-old silver benchmark

Fri, 07/11/2014 - 12:46

By Clara Denina and Jan Harvey
Reuters
Friday, July 11, 2014

LONDON -- CME Group and Thomson Reuters will operate an electronic silver benchmark when the 117-year-old "fix" is disbanded in August, in a move widely seen preceding sweeping reforms of precious metals price-setting.

The London Bullion Market Association said in a statement on Friday that CME Group will provide a price platform and methodology for the daily process, while Thomson Reuters is responsible for administration and governance. ...

... For the full story:

http://uk.reuters.com/article/2014/07/11/silver-fix-idUKL6N0PL4ZL2014071...

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

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The critical questions Kitco never put to Doug Casey about gold price suppression

Fri, 07/11/2014 - 12:26

11:36a ET Friday, July 11, 2014

Dear Friend of GATA and Gold:

Interviewed this week at the Freedom Fest conference in Las Vegas by Daniela Cambone of Kitco News, Casey Research founder Doug Casey called complaints of gold price suppression "ridiculous."

Governments can't be suppressing the price of gold, Casey maintained, because gold has done rather well for four decades, because governments own a smaller share of the world's gold than they used to, and because all governments are bankrupt.


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These are hardly persuasive arguments if they are even arguments at all.

As for gold's having done rather well since it was completely delinked from currencies in 1971, the great disparagement about gold today remains that even with its nominal price increase since then, it has greatly underperformed inflation. Casey has not addressed and explained that.

It's not clear how the government sector's diminished share of the world's gold diminishes government's incentive to suppress its price. To the contrary, the diminished government share of the world's gold would seem to increase government's incentive to suppress gold's price, since, held more widely and independently, gold then would have increased its potential to become a currency competing with government currencies.

The same with the insolvency of governments. Wouldn't a rising gold price call attention to such insolvency and scare investors away from government currencies and bonds?

But all that is merely reason and speculation. To be settled, what the gold price suppression issue needs, as any issue does, is facts, and facts can be obtained only by inquiry, not by mere pontification.

That's why the questions GATA has proposed for presentation to former Federal Reserve Chairman Alan Greenspan during his appearance at the New Orleans Investment Conference in October --

http://www.gata.org/node/14148

-- should be put to those who, like Casey, deny any possibility of gold price suppression by central banks.

Those questions include:

-- Are central banks surreptitiously involved in the gold market, secretly trading gold, gold derivatives, and related financial instruments, as reports from the International Monetary Fund and Bank for International Settlements say? See:

http://www.gata.org/node/12016

http://www.gata.org/node/12717

-- If central banks are involved in the gold market, why? Is it just for fun -- for example, are central banks running contests among their foreign-exchange desks to see which can out-trade the other? Or is profit the objective of such trading, as central banks use their great heft, the power of infinite money creation, to move markets in their favor and thereby fleece lesser participants? Or are central banks secretly trading gold, gold derivatives, and related financial instruments for more serious policy purposes, like controlling the currency, bond, and equity markets to support their currencies and government bonds, with the fleecing of ordinary investors being merely an incidental consequence?

-- Are the many official records and admissions of gold price suppression by central banks, like those compiled by GATA here --

http://www.gata.org/taxonomy/term/21

-- of any value in discerning the purposes of gold-related trading by central banks?

-- Is there a fractional-reserve gold banking system in which the credit of central banks and bullion banks replaces actual gold deposits and thereby vastly increases what the world considers its gold supply, thereby suppressing gold's price? If so, do central banks underwrite and sustain this system with gold sales, swaps, and leases involving bullion banks? If central banks do underwrite and sustain this system, why? Central banks apparently do not underwrite and sustain such a system in soybeans, pork bellies, and other commodity markets, do they? Do gold's competition with central bank-issued money and gold's influence on interest rates and the value of government bonds have anything to do with central bank involvement with the gold market and the fractional-reserve gold banking system?

-- Have those people who disparage complaints of gold price suppression by central banks ever put to central banks any questions about their involvement in the gold market? Have those who disparage complaints of gold price suppression ever sought to obtain access to central bank records of that involvement? If not, how can they be sure that central banks don't seek to control the gold price through surreptitious market intervention?

-- Are the many documents that GATA has compiled involving gold price suppression --

http://www.gata.org/taxonomy/term/21

-- forgeries or have they been misconstrued?

Along with Greenspan, Casey also is scheduled to speak at the New Orleans conference. He'll be a lot more interesting if he skips some of the pontificating and tries addressing the documentation and the facts. But he needn't wait until then to try answering the questions above. GATA would be glad to publish his answers at any time.

Of course Cambone's interviews would be a lot more interesting too if she ever tried posing critical and fact-based questions.

Her interview with Casey is 6 1/2 minutes long and is posted at Kitco's Internet site here:

http://www.kitco.com/news/video/show/FreedomFest-2014/722/2014-07-11/Gol...

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

* * *

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

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Alasdair Macleod: Unwinding unallocated gold accounts

Fri, 07/11/2014 - 10:51

9:50a ET Friday, July 11, 2014

Dear Friend of GATA and Gold:

The growing likelihood that banks will be rescued not by governments but by "bail-ins" by their depositors may hasten the conversion of unallocated gold accounts to allocated gold accounts and put upward pressure on the gold price, GoldMoney research director Alasdair Macleod writes today. His commentary is headlined "Unwinding Unallocated Gold Accounts" and it's posted at GoldMoney here:

http://www.goldmoney.com/research/analysis/unwinding-unallocated-gold-ac...

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

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in Seattle on Saturday, July 12

Gold advocate and mining entrepreneur Jim Sinclair will hold his next gold investing seminar from 1 to 5 p.m. on Saturday, July 12, at the Hilton Seattle hotel, 1301 6th Ave., Seattle, Washington. Admission will be $100. For more information, please visit:

http://www.jsmineset.com/qa-session-tickets/


Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

http://www.caseyresearch.com/summit/2014-fall

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

ADVERTISEMENT

New from GoldCore:
A Price Match Guarantee On All Popular Coins and Bars
GoldCore now offers a price match guarantee -- the company will match prices offered by bullion dealers internationally. The guarantee applies on all orders over $10,000 and on all popular coins (Sovereigns, Eagles, Maples, Krugerrands, etc.) and bars. GoldCore remains highly competitive and its prices are among the best in the industry.

To take advantage of this price match guarantee and GoldCore's already low premiums, please email info@goldcore.com or telephone our trading desk:

International: +353 (0)1 632 5010. UK: +44 (0)203 086 9200. US: +1 (302)635 1160.

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