5:27p ET, Saturday, January 10, 2026
Dear Friend of GATA and Gold (and Silver):
Walter J. (John) Williams, the private consulting economist who publishes the ShadowStats [1] economic letter, long has been an unsung hero of the struggle against gold and silver market rigging. GATA has cited his work many times over the years to show that understating inflation is U.S. government policy and is very much connected to the purposes of suppressing monetary metals prices.
When GATA began in 1998, complaints of gold and silver price suppression were roundly dismissed by the financial establishment and most participants in the monetary metals sector when the complaints weren't ignored altogether. Now gold and silver price suppression is practically taken for granted everywhere outside mainstream financial news organizations.
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Things have gone the same way with Williams and ShadowStats. When the newsletter began, the accuracy and integrity of government economic data and particularly inflation data were taken for granted. That data, especially inflation data, is now widely considered laughable and often intended to mislead. Williams and ShadowStats have provided information that made it laughable.
Yesterday’s edition of the ShadowStats letter carries an essay by Williams’ associate, Jay Morse, that is likely to be of special interest to gold and silver investors. It is headlined "Silver Gates Have Closed -- A Geostrategic Analysis of the Impact on Inflation," and Williams and Morse have generously consented to let GATA share it with you in PDF format here:
ShadowStats-01-09-2026.pdf [5]
A year's subscription to ShadowStats, delivered by e-mail or surface mail, is $175 per year or $89 for six months. To subscribe, contact Williams:
-- By e-mail at johnwilliams@shadowstats.com [6]
-- By telephone at 707-763-5786
-- Or by U.S. mail at Box 2538, Petaluma, California 94953-2538, USA.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org [7]
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Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
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Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
http://www.gata.org/node/16 [10]
Donations of $400 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png [11]
