Blanchard says Morgan Chase has ownership interest in Barrick Gold

9:20p ET Friday, May 16, 2003

Dear Friend of GATA and Gold:

Please excuse the lack of dispatches since last Sunday.
A personal matter intervened. But gold and silver seem to
have done awfully well this week without the usual
encouragement found in this corner, so perhaps no harm
has been done. Here are some things of which you should
have been advised sooner.

* * *

The World Gold Council's exchange-traded gold fund seems
closer to fruition, and there was excellent commentary about
it this week....

.... From John Hathaway of the Tocqueville Funds:

a href=http://www.tocquevillefunds.com/press/archives.php?id=41http://www.tocqu...

And from Thom Calandra, editor of CBSMarketWatch and
the new newsletter, The Calandra Report:

a href=http://cbs.marketwatch.com/news/story.asp?guid=%7BAB923689%2D6B45%http:/...
2D4A7A%2DBFA9%2D935DFF2000CA%7Damp;siteid=mktw

Or try this abbreviated link:

a href=http://ls.shapebyforce.com/sbf/178http://ls.shapebyforce.com/sbf/178/a

* * *

Marshall Auerback, who doesn't write a tenth as often as he
should, has posted at PrudentBear.com some brilliant analysis
of evidence of the Federal Reserve's efforts to manipulate
interest rates and perhaps eventually to monetize everything
that moves or might be moved with enough explosives. Auerback's
essay is titled quot;Has the Fed Already Gone Unconventional?quot;
and it can be found here:

a href=http://www.prudentbear.com/internationalperspective.asphttp://www.pruden...

* * *

Jim Sinclair, CEO of Tan Range Exploration and professor
at what might be called Gold University of the Internet,
writes tonight:

quot;I am beginning to feel that gold will disqualify itself as a
currency medium by going too high too fast. That would be
unfortunate, but pleasing to those holding gold
investments....

quot;The aborted attempt by the Gold Cartel of Common Interest
to hold the price of gold back on the last two nights' close
looks like a failure of gargantuan proportions. These maniacs
who are short gold are finally waking up to the reality that
they are dead meat. You can take that to the bank now.quot;

You can find Sinclair's commentary here:

a href=http://www.jsmineset.com/s/Home.asphttp://www.jsmineset.com/s/Home.asp/a

* * *

Of course you can read GATA Chairman Bill Murphy's
almost nightly commentary on the metals markets for
free as well if you take a two-week trial subscription.
Sign up here:

a href=http://www.LeMetropoleCafe.comhttp://www.LeMetropoleCafe.com/a

* * *

In Canada, Report on Business Television (ROB-TV) has
announced that Howard Green will be interviewing Sprott
Asset Management President John Embry on the quot;Market
Callquot; program on Tuesday from 8-9 a.m. and 7-8 p.m. ET.
Embry provides the most expert gold market commentary
on television anywhere, as far as GATA knows. ROB-TV
is viewable live only in Canada but many of its programs
are archived on the Internet and viewable here afterward
for a week:

a href=http://www.robtv.com/channels/hubs/pastprograms_highlights.htmlhttp://ww...

Or try this abbreviated link:

a href=http://ls.shapebyforce.com/sbf/179http://ls.shapebyforce.com/sbf/179/a

Too bad for the rest of the world that Canada isn't a bigger
country. But maybe then it wouldn't be Canada anymore....

* * *

Nestor Kirchner became president of Argentina today. A couple
of months ago he proposed returning his country to a gold
standard, as this Bloomberg dispatch from March reported:

quot;Buenos Aires, March 13 (Bloomberg) -- Nestor Kirchner,
seeking to become president of Argentina, will try to
return the country to a monetary system where the peso
is backed by gold reserves, the Buenos Aires Herald
said, citing Kirchner's economics adviser.

quot;The return to a gold standard would be part of a
policy involving 'neither dollarization nor multiple
currencies,' the paper cited Kirchner's adviser, Jose
Maria Las Heras, as saying.

quot;The policy would aim for the peso's value to
eventually converge with a single Mercosur currency,
Heras was cited as saying. The Mercosur region
includes Argentina, Uruguay, and Paraguay.quot;

Imagine Argentina liberated from the U.S. dollar
and returning to its roots, which made it among
the wealthiest countries for a while. The country
was named after silver, and not so long ago a
common phrase was: quot;Rich as an Argentine.quot;

If Kirchner plans to try to live up to his ideals,
he could become the most dangerous revolutionary
in the world, the world's greatest anti-imperialist.
Let's hope that Argentina's presidential security
force stays alert.

* * *

GATA's dirty little secret is that we include many
partisans of silver as well as of gold, so this
message from our friends Fred Goldstein and Tim
Murphy at Swiss America Trading Corp. in Phoenix
(a href=http://www.swissamerica.comhttp://www.swissamerica.com/a) may be of special
interest as GATA campaigns to get people to take
metal off the market and call the bluff of the
gold and silver shorts:

While waiting for silver to begin its big bull move,
Swiss America clients have seen their numismatic
silver coins more than double in the last two years.
If any GATA supporters would like information on these
coins, as well as other silver coins that are now
poised to move higher, please contact us.

-- Fred Goldstein 800-289-2646x1033
figoldstein@swissamerica.com

-- Tim Murphy 800-289-2646x1019
trmurphy@swissamerica.com

* * *

GATA's friend Ed Lee of Lee Certified Coins in
New Hampshire (a href=http://www.CertifiedCoins.comhttp://www.CertifiedCoins.com/a) shares
some interesting news testifying to the growing interest
in physical possession of precious metals:

quot;I just sold eight 100-ounce bars of gold to a very good
customer that were custom-poured for him to get .9999
quality at a good price. This absolutely takes gold right
off the market ... even more so than Swiss Bank bars.
First time I ever did this.quot;

Ed adds that he is buying quot;the world's most famous coinquot;
and will display it at the world's largest coin show, the
ANA, in Baltimore in late July and early August.

* * *

Blanchard amp; Co., whose lawsuit against Barrick Gold and
JP Morgan Chase, accusing them of collusion to rig the
gold price, is gaining ground, issued an interesting
statement this week. It will be dispatched to you shortly.

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

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----------------------------------------------------

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----------------------------------------------------

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