Gold Aims to Recapture Its Lustre as a Safe Hedge in Troubled Times

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Source: Knight Ridder/Tribune Business News
Publication date: 2002-04-03

Apr. 3--After years of playing the part of Cinderella to other more-favoured financial assets, gold is finally shaking off its dowdy image and taking a shot at gaining the prize for best-performing asset market of 2002.

Since 1997, $300 (UKpound 208) an ounce has been a ceiling for gold as a combination of central bank auctions and lending to hedge funds, forward sales by gold producers and the much-touted death of inflation conspired to keep the price well below its historic high of $870 hit in 1980.

GATA Urges Support For Congressmen Ron Paul's Gold Transparency Bill

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DALLAS--(BUSINESS WIRE)--March 4, 2002--Research by the Gold Anti-Trust Action Committee Inc. has been cited by U.S. Rep. Ron Paul, R-Texas, in support of his legislative proposal to prevent the U.S. government from intervening in the gold market without authorization from Congress.

Paul's Monetary Freedom and Accountability Act, H.R. 3732, originates in concerns that the U.S. government, acting through the Federal Reserve Board, the Treasury Department, and the Exchange Stabilization Fund, has been surreptitiously suppressing the gold price in order to distort general measures of the U.S. and world economies.

All That Glitters Is Not Gold

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By Kelly Patricia O'Meara
Insight Magazine
March 4, 2002, edition Posted February 8, 2002

http://www.insightmag.com/media/paper441/template/templatemedia/subscrip...

Even though Enron employees and the company's accounting firm, Arthur Andersen, have destroyed mountains of documents, enough information remains in the ruins of the nation's largest corporate bankruptcy to provide a clear picture of what happened to wreck what once was the seventh-largest U.S. corporation.

O'Neill and Greenspan Staring at Checkmate - Bill Murphy

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Yesterday, Secretary Paul O'Neill testified before the Financial Services Committee on the state of the international economy and the performance of the IMF and World Bank. Congressman Paul asked Secretary O'Neill what he thought of the Monetary Freedom and Accountability Act (HR 3732). Secretary O'Neill said he believed the administration needed the flexibility to deal with changes in the international economic system and would oppose anything that reduces the administration's "flexibility."

GATA Coverage (Picture) from The National Post (Canada)

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GATA Coverage (Picture) from The National Post (Canada)

The Short Seller's Nightmare - Thomas Q. Nichols

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"What lies behind us and what lies before us are small matters compared to what lies within us." -Ralph Waldo Emerson.

Gold Bulls express frustration with the lack of exposure to the obvious and deliberate manipulation of the gold and silver markets. Its not that this interference is new, but rather that it is so obvious. While a casual reading of the Briefs in the Hove vs. BIS lawsuit certainly causes one to question motives, looming in the balance is a much larger fiasco that the gold and silver market stratagems are masking and which is threatening to be exposed. These monetary metals exert fiscal pressure in response to imbalances and even though cartels can covertly disperse these pressures temporarily, economic truth will eventually prevail and lay bare the manipulators.

Paul Introduces Legislation Requiring Congressional Approval of Treasury Gold Dealings

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Le Metropole Members,

The following dispatch was just sent to me by Norman Singleton, Congressmen Ron Paul's Legislative Aide. Next week The Gold Anti-Trust Action Committee will begin an all-out campaign to build support for this bill throughout Congress. That can be done by contacting members of Congress and advising them of the importance of this issue, etc. More on that to come.

The Dilemma For Wealth - The Case For Gold - John D. Meyer

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When, lo, as they reached the mountain's side,
A wondrous portal opened wide,
As if a cavern was suddenly hollowed:
And the Piper advanced and the children followed,
And when all were in to the very last,
The door in the mountainside shut fast.

Robert Browning
"The Pied Piper of Hamelin"

Images of riots and runs on banks in Argentina greeted our New Year. For Americans, it's just another disaster in some distant country. It's just another run-of-the-mill Latin American or Third World crisis. Nothing new, they have them all the time!

New Commentary by John Ambrose Goodwin Hathaway - Reg Howe

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T. S. Eliot wrote ("Philip Massinger," The Second Wood,1920): "Immature poets imitate; mature poets steal." The famous literary critic Lionel Trilling gave Eliot at least one good review, writing in the September 1962 edition of Esquire (as quoted in The International Thesaurus of Quotations (Harper Collins, 1996), p. 508, and in R. Andrews, Famous Lines: The Columbia Dictionary of Familiar Quotations (Columbia Univ. Press, 1997), p. 368): "Immature artists imitate. Mature artists steal."

What U.S. and Foreign Officials Have Said About The Fed's Activities in the Gold Market - Bill Murphy

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    From the transcript of the minutes of the Federal Open Market Committee on March 26, 1991 (www.federalreserve.gov/fomc/transcripts/1991/910326Meeting.pdf): Near the end of a lengthy discussion (pp. 8-21) of U.S. foreign exchange reserves, which are held in approximately equal portions by the Fed and the Exchange Stabilization Fund, former Fed governor Wayne Angell added (p. 19):