Murray Pollitt: The big shorts in gold are also the big frauds

10:11p ET Monday, December 10, 2007

Dear Friend of GATA and Gold:

Murray Pollitt of Pollitt & Co. in Toronto, the grand old man of the Canadian gold business, analyzed the gold market in a letter to the firm's clients a few weeks ago. Pollitt figured that the major short positions in the gold market are held directly by big banks expecting that central banks will bomb the market to rescue them as necessary. But he also wondered whether the necessary gold is really available -- and whether it should be made available to the inventors of structured notes, subprime debt, big speculative positions in natural gas, and all manner of derivatives.

Pollitt's analysis can be found at the GATA Internet site here:

http://www.gata.org/files/Murray-Pollitt-11-16-2007.pdf

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

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