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Jim Richter: Central bankers care a lot about gold, their deadly enemy
10:20a ET Wednesday, June 23, 2010
Dear Friend of GATA and Gold:
Astounded by a recent comment by CPM Group executive Jeffrey M. Christian that central bankers hardly think about gold at all, Jim Richter, editor of The Richter Report, today provides a comprehensive explanation, supported in the historical record, as to why central bankers care very much about gold and even perceive it as their deadly enemy. Richter's commentary cites the academic study written by then-Harvard professor and future Treasury Secretary Lawrence Summers, "Gibson's Paradox and the Gold Standard," and draws on GATA's work. Richter's commentary is headlined "A Look at Gibson's Paradox and Gold" and you can find it at The Richter Report's Internet site here:
http://www.therichterreport.com/content.php?id=328&menu_id=15&menu_item_...
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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