James Turk''s analysis: Gold is breaking out of flag pattern

12:15p ET Saturday, March 20, 2004

Dear Friend of GATA and Gold:

Prompted by Ted Butler's appeal to silver mining company
shareholders to urge company managements to start holding
cash balances in silver, thereby tightening the physical
market and countering the market-manipulating short
sellers, GATA's friend Gus writes:

* * *

quot;I would add one item to Ted Butler's list of things that
both the silver and the gold miners need to do. Nearly
every time I get a proxy solicitation to vote for this or
that proposal or an annual statementfrom one of the
precious metals mining companies whosestock I own, the
name of J.P. Morgan Chase shows up in the literature.

quot;If the people who run the gold and silver companies would
get the members of the Cabal off their boards of directors,
it would go a long way toward solving the problem.quot;

* * *

Butler himself writes sardonically on the Gold Forum at
Kitco this week:

* * *

quot;Normally I don't post on silver up days (why bother?),
but this Bloomberg article is too good to let slip by:

a href=http://quote.bloomberg.com/apps/news?pid=nifeaamp;amp;sid=aaJSEYbOXwSMht...

[The article quotes silver users as contemplating finding
cheaper alternatives to silver in manufacturing.]

quot;If you read closely enough, you can just about feel the
pain of the users, who have come to believe that it was
their birthright to have sub-$5 material. Funny coincidence,
but I think every one of the bears quoted here is in the
Silver Users Association.

quot;So the big threat is substitution. Why complain? Just
do it.

quot;The real great thing is that every time these users open
their mouths to complain, we learn of more uses for silver.
Anti-freeze and adhesives? Those are new ones on me.

quot;What's really great is that the shorts and users are not
threatening to bring lawsuits against the longs, as they
did in 1997-98. This suggests that this rally is not about
big speculative longs but genuine physical tightness.

quot;You also must remember that these users are probably the
big lessors of silver, so their pain is not confined to
paying up for raw material but also to the consequences
of being short physical as well.

quot;Hope it works out for them. Right.quot;

* * *

Friends of GATA and gold and silver, please post these
dispatches around the Internet and, to bust the market
manipulators, buy and hold real metal -- not just
mining shares.

Real metal is conveniently and economically obtained
from many dealers, including especially those listed
below, supporters of GATA who have been recommended
by GATA members, and from gold depositories like
GoldMoney.com.

Buying and holding real metal -- and remonetizing
them in trade, as GoldMoney does -- are probably the
highest duties anyone can perform for the cause of
free markets and personal liberty.

If you are confident from the information GATA has
provided over the years that a generational change
in the financial and metals markets is under way,
and if your perspective extends more than a few
weeks ahead, you will never go very wrong for long
in holding real metal, never go wrong at all in
undertaking in regard to investment in real metal
what is called dollar-cost averaging.

Indeed, for a couple of years now the appreciation
in gold and silver prices has far exceeded interest
paid on major currencies.

To disparage gold and silver, it is often said that
they don't pay interest. Of course they don't,
because, as is said in their defense, they don't
have to. Today what doesn't pay interest is the U.S.
dollar, and other currencies aren't much better.

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

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RECOMMENDED INTERNET SITES
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NEWS AND ANALYSIS

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a href=http://www.jsmineset.comhttp://www.jsmineset.com/a

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a href=http://www.mineweb.com/http://www.mineweb.com//a

a href=http://www.gold-eagle.com/http://www.gold-eagle.com//a

a href=http://www.kitco.com/http://www.kitco.com//a

a href=http://www.usagold.com/http://www.usagold.com//a

a href=http://www.GoldSeek.com/http://www.GoldSeek.com//a

a href=http://www.capitalupdates.com/http://www.capitalupdates.com//a

a href=http://www.goldenbar.com/http://www.goldenbar.com//a

a href=http://www.silver-investor.comhttp://www.silver-investor.com/a

a href=http://www.thebulliondesk.com/http://www.thebulliondesk.com//a

a href=http://www.sharelynx.com/http://www.sharelynx.com//a

a href=http://www.mininglife.com/http://www.mininglife.com//a

a href=http://www.financialsense.comhttp://www.financialsense.com/a

a href=http://www.goldensextant.comhttp://www.goldensextant.com/a

a href=http://www.goldismoney.info/index.htmlhttp://www.goldismoney.info/index....

a href=http://www.howestreet.comhttp://www.howestreet.com/a

a href=http://www.depression2.tvhttp://www.depression2.tv/a

a href=http://www.moneyfiles.org/http://www.moneyfiles.org//a

a href=http://www.howestreet.comhttp://www.howestreet.com/a

a href=http://www.minersmanual.com/minernews.htmlhttp://www.minersmanual.com/mi...

a href=http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.htmlhttp://ww...

a href=http://www.goldcolony.comhttp://www.goldcolony.com/a

a href=http://www.miningstocks.comhttp://www.miningstocks.com/a

a href=http://www.mineralstox.comhttp://www.mineralstox.com/a

a href=http://www.321gold.comhttp://www.321gold.com/a

a href=http://www.SilverSeek.comhttp://www.SilverSeek.com/a

a href=http://www.investmentrarities.comhttp://www.investmentrarities.com/a

a href=http://www.kuik.com/KH/KH.htmlhttp://www.kuik.com/KH/KH.html/a
(Korelin Business Report -- audio)

Subscription site:

a href=http://www.lemetropolecafe.com/http://www.lemetropolecafe.com//a

a href=http://www.hsletter.comhttp://www.hsletter.com/a

Eagle Ranch discussion site:

a href=http://os2eagle.net/checksum.htmhttp://os2eagle.net/checksum.htm/a

Ted Butler silver commentary archive:

a href=http://www.investmentrarities.com/http://www.investmentrarities.com//a

----------------------------------------------------

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WHO HAVE SUPPORTED GATA
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a href=http://www.eldoradogold.nethttp://www.eldoradogold.net/a
Harvey Gordin, President
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a href=http://www.gloomdoom.comhttp://www.gloomdoom.com/a
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178 West Service Road
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a href=http://www.swissamerica.comhttp://www.swissamerica.com/a
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com

----------------------------------------------------

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