Gold''s floodgates are open, CBSMarketWatch''s Calandra says

12:24p ET Saturday, February 9, 2002

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy today issued
the following statement. Part of it is for
GATA supporters, and part of it is for
subscribers to his proprietary Internet site,
www.LeMetropoleCafe.com. I'm just going
to pass the whole thing on to you, figuring
that the latter part well might be of
interest anyway ... and that people can
ignore it at their peril!

Bill invites GATA supporters in the
Washington, D.C., area to attend GATA's
press conference and lunch on Tuesday,
February 12, Lincoln's Birthday, at the
National Press Club. If you'd like to
attend, please e-mail me at
GATAComm@aol.com.

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

* * * * * * * * * * * * * * * * * * *

GATA BACKERS IN WASHINGTON AREA
INVITED TO PRESS LUNCH ON TUESDAY

By Bill Murphy, Chairman
Gold Anti-Trust Action Committee Inc.
February 12, 2002

Exciting times are upon us, but you ain't
seen nothing yet as far as gold is concerned.
GATA's revelations are spreading everywhere.
Yesterday I was interviewed by a German
investment firm that is going to issue a very
bullish report on gold this weekend and
recommend that clients buy physical gold.

But the public and most investment analysts,
including most gold analysts, have no clue of
the incredible gold dynamic in place as a
result of years of manipulation of the gold
price by the Gold Cartel.

Enron was a meltdown.

Gold will be a meltup.

The price of gold is going to skyrocket for
many of the same reasons Enron collapsed:

1. Fraud.

2. Business trading operations that violated
the American free-market spirit.

3. Lack of transparency.

4. Cooking the books by the accountants. In
the case of gold, central banks have been
instructed by the International Monetary
Fund's own manual to phony-up their gold
activities.

5. Billions were made by the few on Wall
Street at the expense of the many and the
poor. In the case of gold, devious New York
bullion banks have been Enronizing.

6. Collusion between the New York bullion
banks, the IMF, the Bank for International
Settlements, the Exchange Stabilization Fund,
and the Federal Reserve.

7. Derivatives. There is a quot;Gold Derivative
Banking Crisisquot; -- the title of the document
GATA presented to House Speaker Dennis
Hastert on May 10, 2000.

I could go on and on. The parallels between
the Enron scandal and the coming gold scandal
are remarkable.

This will all be covered at GATA's luncheon
at the National Press Club on Tuesday,
February 12, Lincoln's Birthday. We have some
wonderful people attending, but many press
are afraid to attend because of the subject.
It is pathetic. The public is dazed by what
happened at Enron. How, they wonder, could it
have happened?

Very simple: There is an alliance between big
business, the bullion banks, the U.S.
government, and the press.

Enron is not unique. In essence, that group
represents the Gold Cartel. That is why the
Wall Street Journal, New York Times,
Washington Post, Reuters, Bloomberg, and
other news organizations have refused to
mention GATA or report on GATA's findings or
Reg Howe's lawsuit against the Gold Cartel in
U.S. District Court in Boston.

Since we still have space available, it is my
pleasure to invite GATA supporters in the
Washington area to Tuesday's luncheon. RSVP
required.

I would also like to address another point,
and it pertains to this email that came in
this morning:

* * *

Dear Mr. Murphy:

I sat next to you on a plane some time ago.
We talked about Santa Fe. Then we discussed
the market and you told me about the gold
cartel problem.

I was interested in investing in gold but you
said not all gold stocks are good
investments. You gave me your card, but I
lost it until now.

Please let me know which stocks you were
talking about. I think I might have waited
too long, as gold stocks are up.

Thanks for any information.

Thanks in advance for giving some attention
to my request. You are interesting, and I
believe you are an honest person. (Too few
these days, eh?)

Sincerely,

J.H.B.

* * *

My response to J.H.B. covered the following:

* I suggested that she sign up for a
www.LeMetropoleCafe.com membership to get up
to speed. Some people have taken out trial
membership but not converted to full, paying
memberships. Penny-wise and pound-foolish.
The move of a lifetime is here and no one can
spell out the gold dynamics of what is to
happen and why like Midas and the Cafe's
contributors.

* Yes, many quality gold stocks have doubled
in recent weeks, but that is only quot;jacks for
openers.quot; Many will go up 20 to 30 times or
more, especially the juniors and exploration
companies that have been priced at near-
bankruptcy levels.

* I spend so much time on GATA work that I
don't have enough time to investigate all the
wonderful gold companies out there. I leave
that up to the Bob Chapmans, Bob Bishops, Jay
Taylors, and David Vaughns.

What I can say is this:

* I support the gold companies that support
GATA and try and give them visibility.

* The No. 1 pick of Frank Veneroso and myself
is Golden Star Resources, which I have owned
for many years. It used to be a $21 stock. It
ought to be priced there again, plus some.
Yes, it just doubled in price and, at $1.29
per share, is up 200 percent off its lows.
But so what? Gold is headed north of $600 per
ounce.

* Samex Mining just doubled, but it once
traded 40 times higher when gold was only
$385 per ounce. I speak with Samex CEO Jeff
Dahl almost every day. He is as sharp as any
CEO in the gold business when it comes to
understanding markets.

* Same with Nick Ferris of J-Pacific Gold. J-
Pacific has Jipangu, the Japanese investment
powerhouse, as a major investor. Japan is
where the gold action is these days.

* Durban Roodeport Deep has more than tripled
in share price lately. Durban has mega gold
reserves that can be mined profitably if the
gold price rises. Many investors believe that
GATA is right and gold will soar way beyond
what the mainstream investment world can
comprehend. That is why they are buying the
quot;Roodeport Rocket.quot;

Some major people involved with Durban Deep
were GATA supporters from Day 1. The truth
will come out someday and they will be heroes
in South Africa.

The Gold Cartel is still there, but they are
desperate because they are being found out.
Cartel Capitulation Watch is now in WARNING
mode. The Japanese buying, Enron, low
interest rates, gold producer short-covering,
the massive gold short positions, and the
GATA story have the cabal in a panic. They
will huff and puff some more and do what they
can to knock gold back down, but they are
finished. Their days are numbered.

I will lay out more in coming commentary.

This is the year of the Patriots!

Got to be in it to win it!