|
It has been the greatest of pleasures working on this presentation
this weekend, conjuring, downloading, copying, searching, running to stores
for supplies, asking questions, etc. This is a decade worth of material we
are talking about. Figuring out what to include and assemble has been
interesting, to say the least.
This is our time to make hay, because I suspect the sunshine is going
to finally hit our crops. The climate could not be better to present our
evidence and claims. For starters, is this us, or what, (which is just what I
am going to explain to Commissioner Chilton)? …
Hi Bill:
This quote from the Wall Street Journal sure sounds eerily familiar,
especially to us GATA folks.
Quote
"Madoff Securities is the world's largest Ponzi Scheme," Mr. Markopolos
wrote in a letter to the U.S. Securities and Exchange Commission in 1999.
Mr. Markopolos pursued his accusations over the
past nine years, dealing with both the New York
and Boston
bureaus of the SEC, according to documents he sent to the SEC reviewed by The
Wall Street Journal.
End
http://online.wsj.com/article/SB122910977401502369.html?mod=article-outset-box
(subscription required)
Fees, Even Returns and Auditor All Raised Flags
Hope this encourages folks to keep fighting.
Respectfully,
Edward Ulysses Cate
Sound familiar? I was on Ron Insana’s
CNBC show in early Feb 1999, never to be heard from again on CNBC’s
programs … and for the most part, the US free press financial market
media has banned us too ONCE THEY HEARD what GATA had to say.
This renewed effort to march on Washington
has all developed in the last several days because I happened to catch CFTC
Commissioner Bart Chilton on CNBC and thought he came across as a class act,
told him so, and said I would like his attention. He agreed right away to get
together.
Since then, I have sent him some additional material (blunt) as to
where GATA is coming from. No cancellation of meeting yet, and another QUICK
response to my email, which is so delightful from this unusual Washington
bureaucratic figure.
OK, why this MIDAS on Sunday?
As a result of Friday’s MIDAS, Café member Douglas Blair
contacted one of our heroes, Presidential candidate, Congressman Ron Paul,
who electrified Americans, young and old of sound thinking … especially
over the internet, whose legion contributed a staggering amount of money to
his campaign. I met with Congressman Paul in 2002 in his office in Washington. Thanks to
the efforts of Douglas, Congressman Paul
said he would meet with me.
Of GATA note, which I will present to Congressman Paul, this was the
headline of a GATA Business Wire Press Release on March 4, 2002:
"GATA urges Support for Congressman Ron Paul’s Gold
Transparency Bill"
And now I will ask Congressman Paul to support our gold transparency
effort!
This is what GATA is up to…
My meeting with Commissioner Chilton is at 10:30 Thursday morning. I
will be calling Congressman Ron Paul’s office tomorrow morning to
hopefully set up a meeting, as I know it to be. I have been sending out
emails to various WSJ Washington reporters, with our stunning $264,400
full-page color ad as an opening intro, in an
attempt to catch their interest.
My meeting with Congressman Paul will obviously be based on his
availability. Around his meeting, I have Thursday lunch, afternoon, dinner
Thursday night, Friday morning breakfast, Friday
morning and early Friday lunch still open.
Two queries are going out to two members of Congress. Perhaps one of
you can get to the mainstream Washington
press, or a politician in town. Can anyone get me to the transition team in
the Obama camp?
It is most important to point out there are different agendas to be
addressed. Think about it. What if you were the head of the CFTC? What if you
were Obama’s advisor who wanted to be a trusted aide and and ferret out the truth for him regarding gold? What if
you were a reporter that wanted to be the next Woodward/Bernstein?
You get the gist, a different mindset for each as to interest, which I
will keep in mind during my presentations.
That said, here is what I have assembled so
far for Commissioner Chilton. This is a bit much; however, I am tailoring
this presentation to lead into a full investigation into the manipulation of
the gold and silver markets, which is what GATA has asked for since
1999…
*A copy of GATA’s WSJ ad.
*Our Gold Rush 21 video, which received such great reviews, featuring
the attendance of economic consultant to Russia's Vladimir Putin, Andrey Bykov.
*Frank Veneroso’s brilliant
supply/demand presentation at the GATA African Gold Summit on May 10, 2001 in Durban, South Africa,
in which Frank predicted the central banks would hit
the wall with their gold price suppression scheme in 7 to 10 years. That is a
BIG DEAL in my book with bullion dealers now seeing "gold melt
bars" hitting the market these days.
*Then, I will explain there is a supply demand deficit of around 1500
tonnes a year, with gold mine supply on steady decline … and that the
only reason gold is not triple the price it is today is because of The Gold
Cartel’s ability to surreptitiously obtain central bank gold to satisfy
that deficit … a losing one since gold has risen 7 years in a row, soon
to be 8 … and this is key, as they are running out of "ammo"
to continue this operation.
I will explain why.
*Reg Howe's essay on
former treasury secretary Lawrence H. Summers, then Nathaniel Ropes professor
of political economy at Harvard, who co-authored with Robert B. Barsky an article entitled "Gibson's Paradox and the
Gold Standard" published in the Journal of Political Economy (vol. 96,
June 1988, pp. 528-550).
This explains a rationale behind the manipulation of the gold price.
*James Turk: The Smoking Gun … December 11, 2000
*James Turk: Accounting for the ESF’s
Gold Swaps … January 2002
*The response by Fed attorney Virgil Mattingly to Alan Greenspan, in response
to Senator Bunning of Kentucky, who queried him about the ESF and their gold
operations, thanks to GATA supporters Rupert and Jeanne Raymond of Kentucky. Mattingly
said the IMF minutes were garbled.
*Responses to GATA’s FOIA requests by
the Fed and Treasury and comments by GATA’s
attorney William B Olsen:
This is pitiful. The Fed would not send us 137 pages and redacted 300
more pages. Not only did the Treasury, when we asked for a response about
Exchange Stabilization Fund activity in gold market, say that there had been
none by the Exchange STABILITY Fund, they have another guy sign his own name
for Hugh Gilmore of Disclosure Services, whose name is on the bottom of the
letter. HUH?
*At this point, with all the goofy commentary out there about conspiracy
folks, presenting GATA’s credibility is of
paramount importance. Therefore, I have included some input we have created
around the world, everywhere but in free America…
A Durban, South Africa newspaper picture of myself and King Goodwill Zwelithini, the great, great grandson of Africa’s
greatest general, SHAKA, whom GATA patterned our continued battle plan (The
Enveloping Horn) to defeat The Gold Cartel soon after our inception. Eventually,
if, as I think, OBAMA is the person who I suspect he is, this should get to
him. Bush and Clinton were the biggest phonies in the history of the world
about really helping the poor in southern Africa.
*A letter to GATA from Oleg V Mozhaiskov,
the Deputy Chairman of Bank of Russia, the Russian central bank. This is
wild, as the Deputy Chairman had the chairman of the Moscow Norodny Bank in London translate his speech to the
stunned attendees at this prestigious conference; yet not ONE western bullion
dealer attendee would send us a copy of the speech for Chris Powell to get a
Russian friend to translate….
The London Bullion Market Association
Bullion Market Forum
Baltschug Kempinsky
Hotel, Moscow
June 3-4, 2004
Perspectives on Gold: Central Bank Viewpoint
By Oleg V. Mozhaiskov, Deputy Chairman
Bank of Russia
… This dualism in gold price formation distinguishes it from
other commodities and makes the movements in the price sometimes so enigmatic
that market analysts need to invent fantastic intrigues to explain price
dynamics. Many have heard of the group of economists who came together in the
society known as the Gold Anti-Trust Action Committee and started a number of
lawsuits against the U.S.
government, accusing it of organising an anti-gold conspiracy. They believe
that with the assistance of a number of major financial institutions (they
mention in particular the Bank for International Settlements, J.P. Morgan
Chase, Citigroup, Deutsche Bank, and others), some
senior officials have been manipulating the market since 1994. As a result,
the price dropped below US$300 an ounce at a time when it should, if it had
kept pace with inflation, reached US$740-760…
http://www.lemetropolecafe.com/pfv.cfm?pfvID=4133***
*A White House letter to me from President Bush’s economic
advisor, Lawrence Lindsay, the same day Tom Craddick, President Bush’s
boyhood friend from Midland,
Texas, sent a two page GATA
executive summary to the President on his private fax.
*A letter saying nothing from Senator Phil Gramm of Texas on January 25, 2000. Gramm was on
the banking committee and his wife was Commissioner of the CFTC at one point.
*Adrian Douglas’s pamphlet, Major GATA Battle Victories in
the Gold War, which was presented to the attendees at our “GATA
Goes To Washington” conference last April.
*Sprott Asset Management’s "NOT
FREE, NOT FAIR: The Long-Term Manipulation of the Gold Price," by John
Embry and Andrew Hepburn.
*My presentation in Las Vegas last August, "Gold Cartel
suppressing, manipulating gold price, " which includes on the record
admissions of intervention in the gold market.
*"A new summary of GATA's
work," by Chris Powell in November, 2008.
*The latest on the concentration of short positions by a few banks in
gold and silver, including some input from Gene Arensberg’s
latest piece. Along that line, I have been in touch with Ted Butler and he
has been very helpful.
*A couple of pertinent letters sent by Café members to
Christine Ryall of the CFTC enforcement division.
*A hodgepodge of anecdotal material, such as The Gold Cartel’s
trading patterns.
*A few pointed questions to be asked of Rubin, Summers, et al, and a
suggestion that there be an independent audit of America’s gold
resources to determine what is there and if any of it is encumbered in any
way due to lending/swap operations.
At the moment I am looking around for wheelbarrows to cart this stuff
to Washington.
I will explain to whomever I meet that what GATA has collected over the past
decade is the same as a prosecutor in a murder trial. What we have is much
more than just circumstantial evidence, but even if it were just that, it is
so overwhelming that a jury would come to no other conclusion than the gold
market is manipulated and to a significant degree. The jury’s verdict
would be guilty beyond a reasonable doubt.
To conclude, I am going to stress the point to everyone I meet, that
the suppression scheme cannot be effective that much longer because there
won’t be enough central bank gold to meet the supply/demand deficit. In
addition, if GATA is correct, it is leading to a giant scandal, which will
dwarf the latest flap over the Madoff Ponzi scheme and could even rival Watergate in scope. The
question to be answered will be similar to other scandals, "How could
this have happened?"
The world is harping for transparency and truth from New
York and Washington.
No better time to get the gold truth than now.
Bill Murphy
Chairman
Gold Anti-Trust Action Committee
Much more for subscribers…
Bill Murphy
Editor
Lemetropolecafe.com
Chairman
Gold Anti-Trust Action Committee
Le Metropole Café is a Membership
site. Visit and Experience a 2 week Free Trial !
Bill Murphy is chairman of the Gold
Anti-Trust Action Committee and proprietor of www.LeMetropoleCafe.com,
an Internet site devoted to financial commentary with emphasis on the
precious metals. You can become a trial member for free for two weeks by clicking here.
| 
