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Erste Group Bank gold report cites market manipulation
8:40a ET Wednesday, June 23, 2010
Dear Friend of GATA and Gold:
Erste Group Bank in Vienna, long a vigorous advocate of gold ownership and monetization, has just published a magnificent report on gold's prospects, which the bank finds extremely bullish. The report includes a long section on manipulation of the gold market that cites many things GATA has publicized, including the complaint by London metals trader Andrew Maguire that GATA carried to the March 25 hearing of the U.S. Commodity Futures Trading Commission, and CPM Group executive Jeffrey Christian's testimony at that hearing about the extraordinary leverage used by traders on the supposedly physical gold market in London.
The Erste Group Bank gold report can be found at GATA's Internet site here:
http://www.gata.org/files/ErsteGroupGoldReport-06-2010.pdf
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource
Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management team includes John Morganti, Arnold Armstrong, and Rob McEwen.
For Prophecy's complete press release about its production plans, please visit:
http://www.prophecyresource.com/news_2010_may11.php
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