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Major German business magazine publicizes gold price suppression scheme
10:07p ET Monday, July 26, 2010
Dear Friend of GATA and Gold:
The July 21 edition of a major German business magazine, Focus Money, carries a huge and profusely illustrated article written by its editor, Johannes Heinritzi, about gold market manipulation by central banks and governments:
http://www.focus.de/finanzen/boerse/aktien/rohstoffe/tid-19212/gold-mani...
The article begins with reference to the mysterious and surrpetitious gold swaps recently undertaken by the Bank for International Settlements. It cites speculation that central banks do not really have the gold they claim to have. It notes that there has been no audit of the U.S. gold reserve for half a century. It repeats former Federal Reserve Chairman Alan Greenspan's famous testimony to Congress that "central banks stand ready to lease gold in increasing quantities should be price rise." It reports that Asian central banks have become gold buyers. And it quotes gold analyst Ronald Stoferle of First Group Bank in Vienna as saying that the motives of central banks and governments to suppress the gold price "are clear and plausible" and that it would be "naive" to think that they're not doing it.
Imagines of the magazine's cover and the pages with the gold price manipulation article can be found here:
http://bullioncafe.blogspot.com/
A hamhanded and occasionally comic but still generally helpful computer translation of the article from German to English can be found here:
This cat is out of the bag and prowling Europe.
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
Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 27-30, 2010
Hilton New Orleans Riverside Hotel
http://www.neworleansconference.com/redirect.php?page=index.html&source_...
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http://gata.org/node/wallstreetjournal
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
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Sona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration of Elizabeth Gold Property
On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia.
Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013."
For complete information on Sona Resources Corp. please visit: www.SonaResources.com
