James Turk: Bernanke explains why Fed must rig gold price

1:34p ET Thursday, July 12, 2007

Dear Friend of GATA and Gold:

GoldMoney founder James Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, analyzes Federal Reserve Chairman Ben Bernanke's inflation speech this week and finds the Fed's rationale for manipulating the gold price. It is, Bernanke said, a matter of controlling inflationary "expectations." That is, if you believe Bernanke, the public causes inflation by expecting it; the Fed doesn't cause it by increasing the money supply far out of proportion to the productivity of the economy.

Turk's new essay is titled "Controlling Inflationary Expectations" and you can find it at Kitco here:

http://www.kitco.com/commentary/turk.htm

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

* * *

Join GATA at these conferences:

The Silver Summit
Thursday-Friday, September 20-21, 2007
Coeur d'Alene, Idaho
http://thesilversummit.com

New Orleans Investment Conference
Sunday-Thursday, October 21-25, 2007
New Orleans, Louisiana
http://www.neworleansconference.com

* * *

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/.

GATA is grateful for financial contributions, which are federally tax-deductible in the United States.