Got a derivatives problem? Call a JP Morgan guy!

11:34p ET Wednesday, June 11, 2003

Dear Friend of GATA and Gold:

A few things especially worth checking tonight....

MineWeb has a dispatch about last weekend's
gold conference in Vancouver, at which GATA
Chairman Bill Murphy spoke:

a href=http://www.mips1.net/MGGold.nsf/UNID/NMOT-5NDQ97?OpenDocumenthttp://www....

And Jim Sinclair has two brief commentaries:

1) quot;Gold and the Dollar.quot; He argues that the dollar is
so weak that the recent correction in the gold price
will be modest.

2) A Qamp;A, in which he argues that the Federal
Reserve is talking reflation but doing nothing about
the decline in the money supply and the velocity
of money.

Both Sinclair commentaries can be found here:

a href=http://www.jsmineset.com/s/Home.asphttp://www.jsmineset.com/s/Home.asp/a

CHRIS POWELL, Secretary/Treasurer