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GoldMoney partnership with Durban seeks private remonetization of gold worldwide

Section: Daily Dispatches

10:45p ET Friday, January 30, 2004

Dear Friend of GATA and Gold:

Our friend J.T. writes in response to today's dispatch of
the Reuters story about the extraordinary expense Japan
has incurred by printing yen to buy dollars:

quot;This is interesting news, but would someone kindly
interpret for us the impact on the price of gold, considering
that there seems to be no insight as to how long the Bank
of Japan can keep up its intervention?Long enough, perhaps,
until the U.S. dollar can get over its weak spell? Long enough
to keep the price of gold subdued until it enters a natural bear
phase a few years from now?quot;

J.T. has posed the 64-trillion-dollar question. Conceivably
Japan could bankrupt itself in support of the dollar. How far
could Japan go? It could go on until the Japanese people are
all naked and starving and forced to live under bridges that
have been purchased by Americans, as Japanese companies
purchased so much American real estate 20 years ago.

WILL it go that far? Who knows? How long will it go on?
Probably only as long as it takes the people of that
overworked and exploited country to elect better political
leadership.

GATA dispatches news items about currency interventions
not to suggest that any intervention will end at any
particular time but to show thatthe gold market is part of
the currency market, that this market isbeing manipulated,
that natural market forces are running overwhelmingly in
favor of gold, and that we all should be working in favor
of free markets and honest dealing among peoples and
nations.

For better commentary on this point, check out Jim
Sinclair's Friday and Thursday postings here:

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

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

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