Daily Dispatches

How Barrick Gold evades hedging rules

Section:

12:30a EDT Monday, June 28, 1999

Dear Friend of GATA and Gold:

It's time again for an exchange with an expert and
articulate critic, Martin Armstrong of Princeton
Economics International, who has graciously given
permission for me to send to you the essay below,
recently posted at the PEI web site.

Martin and I had an exchange here some weeks ago
and I hope it was as enlightening to you as it was fun

Now Gartman Letter Sounds Like GATA

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11:30a EDT Sunday, June 27, 1999

Dear Friend of GATA and Gold:

You're sure to be interested in Ted Butler's latest essay
at www.gold-eagle.com.

Butler examines the masssive gold short position of
Barrick Gold on the commodities exchange and describes
how the company has effectively evaded ordinary limits
on hedging. He also describes the inattentiveness of
the Commodities Futures Trading Commission.

Part 2, House of Commons sounds like GATA

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11:15p EDT Thursday, June 17, 1999

Dear Friend of GATA and Gold:

Please pardon the length of this dispatch -- it's in
three parts -- but I think you will find it interesting. It is
the better part of a debate yesterday in the British
House of Commons about the Bank of England's plan
to sell a huge part of its gold reserves.

Two members, Sir Peter Tapsell and Quentin Davis,
conducted the debate for the gold side essentially on

Part 3, House of Commons sounds like GATA

Section:

11a EDT Saturday, June 26, 1999

Dear Friend of GATA and Gold:

Here's a special dispatch from GATA Chairman
Bill Murphy to members of his web site,
www.lemetropolecafe.com.

While signs of manipulation of the gold market are
everywhere, I am encouraged by the growing and
increasingly influential opposition to the proposal to
have the International Monetary Fund sell gold
assigned to it by its member nations. It is now generally

A Denial by Long-Term Capital Management

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PART 2, HOUSE OF COMMONS SOUNDS LIKE GATA

I have already quoted Mr. Greenspan, who said that in
1944 Germany could not buy anything except with gold.
In a real crisis, there is no doubt that gold is
important. It is not just my taxi driver who takes that
view. When I was in Vietnam last year, everybody told
me that every Vietnamese peasant has gold underneath
his floorboards or his straw because the Vietnamese

House of Commons sounds like GATA, Part 1

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Part 3, House of Commons sounds like GATA

We will have a better diversified portfolio. We will
not be as concentrated in gold as in the past. At the
moment, we are twice as exposed to movements in the
gold price as to movements in the value of the dollar.
Therefore, it is a simple portfolio decision, designed
to reduce the risk borne by the British taxpayer.

The hon. Members for Louth and Horncastle and for

Gold shorts are in for a surprise

Section:

1p EDT Thursday, June 17, 1999

Dear Friend of GATA and Gold:

Long-Term Capital Management has sent our lawyers a
formal denial of involvement in the gold business,
though its wording is something less than comprehensive.
The following dispatch from Dow Jones Commodities
Service today explains the situation.

As veteran of quite a few libel lawsuits and threats of
lawsuits during my 30 years in the newspaper

GATA cited in Gartman Letter, Gold Newsletter

Section:

1:15a EDT Wednesday, June 16, 1999

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy has just posted the following
commentary at www.lemetropolecafe.com. There are
indications that we all should stay tuned, and watch
closely.

Please post this as seems helpful.

CHRIS POWELL
Secretary, Gold Anti-Trust Action Committee Inc.

* * *

June 15, 1999
Spot Gold $259.20 down $1.10

Big problems developing for the colluders

Section:

9:45p Monday, June 14, 1999

Dear Friend of GATA and Gold:

There's good news and bad news for GATA, but even the
bad news is good.

The bad news, such as it is, is that GATA was
disparaged loudly in a recent issue of the Gartman
Letter, a major commodities market publication. Here's
what the Garman Letter had to say:

"The Gold Anti-Trust Action Committee (GATA), a
gathering of disgruntled gold bulls, is in the news

Bill Murphy''s speech to the NY gold show

Section:

5:30p EDT Saturday, June 12, 1999

Dear Friend of GATA and Gold:

Here's an especially important "Midas" commentary by
GATA Chairman Bill Murphy at www.lemetropolecafe.com.
Please post this wherever it may be of interest.

CHRIS POWELL
Secretary, Gold Anti-Trust Action Committee Inc.

* * *

A Financial Scandal Unfolding Slowly Before Your Eyes

By Bill Murphy

June 11, 1999. Spot Gold $260.40, up $2.10

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