A letter from the White House, and a big gun enlists in South Africa

By Bill Murphy, Chairman
Gold Anti-Trust Action Committee Inc.
March 4, 2001

The cabal is trying to snuff out another gold rally.

We know that the Bank for International
Settlements once again has mobilized gold for
lending purposes to bomb the gold market as it
reacts to the tightening supply of physical gold. In
doing so, the BIS has made a statement to the poor
African gold-producing countries that their economies
are irrelevant compared to the interests of bullion
banks operated by smug, arrogant whites.

Perhaps they are not intentionally being racists, but
I am beginning to wonder.

The manipulation of the gold market to suppress the
price began when the white government of South
Africa was replaced by a black-led government. It
was around the time Alan Greenspan and William
McDonough joined the board of the BIS. Yes, 1994
was some year. As a result of the suppression of the
gold price, the new black-led government of South
Africa has not been given a fair chance to show
what it can do.

Enough is enough.

Because President Thabo Mbeki's office has asked
to be kept informed of GATA's developments, and
Joe Molefe has offered to do lobbying within the
political and mining communities in Africa, GATA
has decided to begin arranging the GATA Africa
Gold Summit in Durban, South Africa, around May
15. Rhoda Fowler of Media Link in Duban has
begun looking for hotel space and hosting facilities.

This is not any sort of official announcement, as the
pertinent details will be released in the near future.
But there is no reason not to let you know GATA's
next course of action is.

Molefe has contacts all over Africa and at the
mining ministry levels. I don't see why our
conference cannot attract a majority of the African
mining ministers, the U.S. ambassador to South
Africa, gold producer executives, government
officials, mining union executives, and others. And,
yes, someone from the U.S. State Department. Who
knows, maybe even Colin Powell.

The State Department ought to attend, because
when the gold-producing African nations realize
that there was an attempt to reduce the price of gold
at the expense of their economies, they are going to
be outraged.

When they realize that the Clinton administration's
effort to get the International Monetary Fund to sell
gold was not designed for debt relief for the poor
but to inject 3,000 tonnes of physical gold into the
spot market, they are going to be outraged.

When they realize that the BIS, the IMF, the
defendant bullion banks in the GATA/Howe
lawsuit, and the Clinton administration hoodwinked
them, they are going to be outraged.

Someone from the State Department had best
understand these developments, first-hand.

John B. Taylor, a Stanford University economics
professor, has been named President Bush's
undersecretary for international affairs. Taylor once
advocated abolishing the IMF and criticized the
IMF's loans to Mexico, Russia, and other countries
as bailouts for rich investors that encourage reckless
behavior.

This is the key Treasury role when it comes to gold
policy. And Taylor replaces gold nemesis Ted
Truman.

Let us hope that Taylor understands everything
about the reckless behavior of the Gold Cabal.