Bix Weir: U.S. silver eagles illegally rationed

1:40p ET Wednesday, June 4, 2008

Dear Friend of GATA and Gold:

GATA supporter Bix Weir has written an open letter to the U.S. Treasury Department complaining that the department appears to be violating federal law by limiting production of U.S. silver eagle coins. The law, Weir notes, requires the Treasury Department to produce the coins "in quantities sufficient to meet public demand" even as that demand this year has far outstripped supply. Of course the widespread suspicion is that the Treasury is limiting production of the coins to avoid government purchases of silver that would send the metal's price up in what appears to be a very tight market. Weir's open letter is headlined "U.S. Silver Eagles Illegally Rationed" and you can find it at GoldSeek's companion site, SilverSeek, here:

http://news.silverseek.com/SilverSeek/1212595279.php

U.S. citizens might want to copy Weir's letter and send it to their members of Congress with a covering letter asking Congress to act to ensure that the law's intent is fulfilled.

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

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