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The original dollar crisis, before central banks lost all interest in gold
11p ET Tuesday, June 29, 2010
Dear Friend of GATA and Gold:
Zero Hedge has posted the first part of a likely three-part essay on "the original dollar crisis" of the late 1960s and early '70s and the current dollar crisis, written by the pseudonymous John Law. Since gold figures heavily in it, the basics of the first dollar crisis may be well known in the gold community, but this account has a lot of interesting details. Just remember that this was all long ago -- before, as Kitco's Jon Nadler might remind us, central banks lost any interest in manipulating the gold price, and before, as CPM Group's Jeffrey M. Christian might remind us, central banks lost interest in gold altogether. The essay is headlined "The Original Dollar Crisis and How It Led to Today's Crisis -- Part 1" and you can find it at Zero Hedge here:
http://www.zerohedge.com/article/guest-post-original-dollar-crisis-and-h...
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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