Articles

AFRICA/WORLD

A US court is to decide whether or not to allow a civil suit, which alleges that American government officials and other international banks conspired to manipulate the gold market to the detriment of African gold producers, to continue to the discovery stage.

Reginald Howe, an American lawyer, filed the case in December last year against the US Treasury, the Bank for International Settlements (based in Switzerland), the US Federal Reserve chairman Alan Greenspan, the Federal Reserve president William McDonough, and the former US treasury secretary Lawrence Summers.

...Startling revelations at the GATA African Gold Summit in Durban. Story by Adam Hamilton.

Go on, ask the question: (from left) Ghana's JJ. Kufuor and South Africa's Thabo Mbeki whose economies have suffered greatly from the rigging of the gold market, are yet to publicly demand a stop to it

While the gold price appears to be calm and placid on the surface, powerful forces war behind the scenes to shape it. The stakes are stupendously high, as the state of the gold market and the price of gold do not exist in a vacuum. Virtually every important capital market in the world, from the mammoth currency foreign exchange markets to the critical international bond markets, is affected directly or indirectly by the price of gold.

Hello everyone. I would like to extend a special greeting to those Gold Anti-Trust Action Committee supporters who have come from all over the world to attend this conference.

Two years ago from this very podium, I presented evidence the gold market was manipulated by a cartel of bullion banks. Since then, GATA has secured massive amounts of additional evidence that confirms our original assessment.

MANCHESTER, Conn.--(BUSINESS WIRE)--Nov. 6, 2001--The following statement was released on Monday, Nov. 5, 2001, by Chris Powell, Secretary/Treasurer, Gold Anti-Trust Action Committee Inc.:

The Gold Anti-Trust Action Committee has come up with more evidence that the gold market has been manipulated since 1995 than the Bush Administration has produced evidence showing Osama Bin Laden was responsible for the September 11 terrorist attacks on the United States. A smattering of that evidence includes the following:

*Virgil Mattingly, General Counsel of the Federal Reserve. According to the transcripts of the January 31st, 1995 meeting of the FOMC, Mr. Mattingly said: "The [ESF] statute is very broadly worded in terms of words like "credit" – it has covered things like the gold swaps – and it confers broad authority.

Lawsuits Continue To Pursue Summers After Leaving D.C.

By DAVID H. GELLIS
Crimson Staff Writer

Currency bearing University President Lawrence H. Summers' signature isn't the only lingering reminder of his time as Treasury Secretary. This week, a U.S. District Court judge in Boston scheduled an October 9 hearing on a motion to dismiss a lawsuit that names Summers as a defendant.

The suit is fallout from Summers' time as a public official—and only one of many suits targeting him.

DALLAS, Aug 15, 2001 (BUSINESS WIRE) -- "Hard as it is to fathom, it appears that much of America's gold is essentially gone or in severe jeopardy," says Gold Anti-Trust Action Committee Chairman Bill Murphy.

Murphy points to an astonishing discovery by GATA consultant James Turk in his new essay, The Mystery of the Disappearing SDR Certificates, published at the GATA Internet site, www.GATA.org. An SDR, which is acronym for Special Drawing Rights a.k.a. 'paper gold,' is a monetary instrument issued by the International Monetary Fund, representing special drawing rights for one 35th of an ounce of gold.

A top lawyer at the Federal Reserve has disavowed remarks attributed to him about the U.S. Treasury's use of gold swaps in foreign economic bailouts and currency-stabilization efforts, saying he was misquoted by the central bank's transcribers.

Virgil Mattingly, general counsel to the Federal Open Market Committee, wrote Fed Chairman Alan Greenspan last month that he couldn't recall making the remarks attributed to him in transcripts of a January 1995 FOMC meeting. Those remarks were seized upon by the Gold Anti-Trust Action Committee, a private group that contends the Fed and the Treasury secretly have been selling gold to suppress prices.

11:38p ET Sunday, July 22, 2001

Dear Friend of GATA and Gold:

Our letter-writing campaign to Congress has gotten some
interesting results -- another letter of explanation from
Federal Reserve Chairman Alan Greenspan and, more
interesting still, a memorandum from one of the Fed's
top lawyers asserting that he can't remember anything