Daily Dispatches

Rep. Paul warns Congress of causes of dollar''s decline



By Thom Calandra, Editor
Tuesday, June 11, 2002

On the subject of timing, delegates at the London Bullion
Market Association's precious metals conference in San
Francisco got the weather right this week -- but not the
gold rally.

Some 350 gold industry types are meeting to suss out
the gold price and other issues for their industry, such

Kinross to merge with Echo Bay and TVX Gold


Bugged by gold: A simmering debate on the
economics of gold has taken a turn

Miami Herald
June 9, 2002

As Gold Fields Ltd. moved up in the world
last month -- debuting on the Big Board --
the South African mining company tapped anti-
apartheid crusader Nelson Mandela to help

Sunday''s Miami Herald reports on GATA and the gold price


Saturday, June 8, 2002

Dear Friend of GATA and Gold:

Here are highlights of my trip to Vancouver for
Joe Martin's mining conference(along with one

* Dinner with Samex Mining CEO Jeff Dahl and
Joe Tie, ChineseWorldNet.com honcho.
ChineseWorldNet is becoming the CNBC of China
and Joe intends to take the gold/GATA story
to Chinese all over the world. That is
already under way with their promotion of

A report from the Vancouver mining conference by GATA Chairman Bill Murphy


9:15p ET Friday, June 7, 2002

Dear Friend of GATA and Gold:

The press release below from Central Fund
of Canada (CEF on the American Stock Exchange)
says the company is issuing 11.5 million
shares to purchase US$50 million in gold and
silver bullion. This is probably as good for
gold and silver as a mining company's closing
some hedges.

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

Central Fund issues shares to buy $50 million in bullion


By Thom Calandra
June 7, 2002

As gold's polar opposite, Nasdaq, gets blasted, bullion
investors expect miners' risky hedge books to further boost
the metal.

By some estimates, gold mining companies are hedging, or
selling forward, about 4,000 tons of gold. Some analysts say
it's far more. As gold prices continue to rise in the face of a
weak stock market and a declining dollar, most of the world's

Hedge covering may spark mad scramble for gold


10:33p ET Wednesday, June 5, 2002

Dear Friend of GATA and Gold:

Brightening this dismal day for gold, two of GATA's
recommended coin and bullion dealers have just let
us know of special offers for people who identify
themselves as GATA supporters.

-- Ed Lee, president of Lee Certified Coins in New
Hampshire, will sell 1-ounce Krugerrands and modern
1-ounce gold bullion coins at the spot gold price

How the Bank for International Settlements rigged gold even 20 years ago


3:57p ET Wednesday, June 5, 2002

Dear Friend of GATA and Gold:

MiningWeb.com has just reported an explanation for
the plunge in the gold price today.

The plunge, MiningWeb says, "came in the wake of a
large after-market trade in New York last night, with an
unnamed fund liquidating 5,000 futures contracts, a move
which knocked the price first to $326/oz, then to $324/oz,
and finally to $321/oz, where some dealers reckon it has

Suspicious after-market trade tanked gold, MiningWeb.com says


Bank of Japan spent oodles to halt yen's rise

The Japan Times
June 2, 2002

NEW YORK (Kyodo) -- The Bank of Japan spent between
$8 billion and $10 billion in foreign exchange markets
to stem the yen's surge Friday in one of the biggest
single-day interventions in recent years, dealers said.

The scale of the intervention matches a dollar-supporting
intervention carried out by the BOJ after the Sept. 11

Edward Jay Epstein: The BIS, ruling the world of money


9:50p ET Wednesday, June 5, 2002

Dear Friend of GATA and Gold:

Thanks to Sean Corrigan of Capital Insight in Britain
for sending along this 1983 Harper's magazine
article by Edward Jay Epstein about the Bank for
International Settlements. While the essay is almost
20 years old, it has just as much relevance today,
when the world's big economic decisions continue

Dollar is burning and Japan is spraying it with paper


By Jim Buchta
Minneapolis Star Tribune
Saturday, June 1, 2002

Gold has its glitter again.

On Friday, as gold prices rose to their
highest level in more than two years, coin
and precious metals dealers said their phones
won't stop ringing.

"The world has changed," said George Cooper
of Centennial Precious Metals, a Denver-based
company with dozens of customers in the Twin

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