Daily Dispatches

New commentary by Reg Howe examines Enron


JP Morgan says suffered no gold trade loss

NEW YORK, Feb. 6 (Reuters) -- J.P. Morgan Chase & Co. on
Wednesday squashed rumors in financial markets that it
sustained a loss during Tuesday's powerful gold rally,
saying instead it made a profit on gold's run to two-year

"We had a very good day yesterday," said a senior
bank official with knowledge of the bank's bullion trading

More examination of Morgan Chase gold derivatives


8:59p ET Thursday, February 7, 2002

Dear Friend of GATA and Gold:

Our friend Reg Howe first raised the issue of the
disproportionate position in derivatives of J.P.
Morgan Chase. Today it was the subject of John
Crudele's column in the New York Post, published
just a few blocks from the corner of Broad and
Wall Streets. It's a good bet that it was read by
some of the denizens of that neighborhood.

But they ARE selling a bridge in Brooklyn....


By Thom Calandra
Wednesday, Feb. 6, 2002

SAN FRANCISCO -- Now comes the hard part in the
$300-plus gold rally: finding the neglected mining stocks.

Problem is, there aren't many. The entire category of
gold mining stocks, from the Newmont Mining giants to
the Vancouver-listed juniors, doesn't exceed $50 billion
of market capitalization. "Up until three weeks ago the

Gold''s swift rally may spark scramble


Miners finally get Street's attention
Gold's run at $300 an ounce sparks a mini-rush

By Thom Calandra
Tuesday, Feb. 5, 2002

SAN FRANCISCO -- Long-forgotten gold mining stocks are
attracting the attention of Wall Street money managers.

"I'm getting a lot more calls," says Pierre Lassonde, who later
this month will become president of Newmont Mining, soon to

Toronto Globe & Mail cites gold price suppression issue


Press masks world's fiscal distress;
Nikkei tumbles, gold gains, short-sellers stage left

By Thom Calandra
Monday, Feb. 4, 2002

SAN FRANCISCO (CBS.MW) -- You've got to hand it to the
financial press, doing everything it can to take the world's
eyes off real fiscal woes.

Raise your hand, for instance, if you know Ken Lay's
home address, the amount of Enron stock he sold and

Miners finally get Street''s attention


4:23p ET Tuesday, February 5, 2002

Dear Friend of GATA and Gold:

Here's to a wonderful day and the eve of
the demise of the gold cartel. And below
is the "Vox" column from today's Toronto
Globe & Mail, which recognizes the gold
price suppression issue and even mentions
the Internet site of GATA Chairman Bill
Murphy, www.LeMetropoleCafe.com.

CHRIS POWELL, Secretary/Treasurer

Press masks world''s fiscal distress


GATA NOTE: J.P. Morgan/Chase shares fell
5.5 percent Friday, after this news story
was published.


Charges of collusion with Enron, big losses
raise questions about J.P. Morgan's judgment

By E. Scott Reckard
Los Angeles Times
February 1, 2002

In the rubble of recent financial collapses,
one prestigious institution seems especially
vulnerable: J.P. Morgan Chase & Co., the

Enron scandal, big losses put Morgan''s judgment in question


Gold gain points to currency risk
'Strange' buying of metal may be sign of distress

By Thom Calandra
Friday, February 1, 2002

SAN FRANCISCO -- As the world's economic leaders
meet in New York, professionals wonder whether gold's
steady price rise this week is the first crack in the global
currencies dam.

In a daily note, UBS Warburg's precious metals team
said Friday, "Gold remains strangely supported despite

Investment pros puzzled by gold''s stubborn rise


By John Crudele
New York Post
January 31, 2002

Is J.P. Morgan Chase too big to fail?

This question is admittedly a bit premature. But you can bet
this concern will start going around in the next few weeks if
the giant New York bank continues its recent streak of bad

Back in early December this column speculated that
Global Crossing Ltd. would be the next Enron, bitten by
the bankruptcy bug. That happened this week as Global

Morgan/Chase may crash but U.S. government would rescue it


7:40p CT Tuesday, January 29, 2002

Dear Friend of GATA and Gold:

The Gold Anti-Trust Action Committee needs your
help in making our luncheon at the National Press
Club on Tuesday, February 12, Lincoln's Birthday,
a big success.

The luncheon is for the news media, members of
Congress and their staffs, representatives of public
policy study institutions, and others who could have
an impact on legislation, public policy, and publicity.

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