AngloGold bid for Ashanti advances; still needs Ghana govt.''s OK

12:17p ET Sunday, August 3, 2003

Dear Friend of GATA and Gold:

Here's an important dispatch from GATA's friend Larry
Parks, executive director of the Foundation for the
Advancement of Monetary Education, about U.S. Rep.
Ron Paul's latest valiant attempt to challenge the
dishonesty of the U.S. financial system.

Paul has introduced in the House of Representatives
what he calls the Honest Money Act, which would
repeal federal quot;legal tenderquot; laws -- laws that require
the acceptance of money backed only by the quot;full faith
and creditquot; of the U.S. government.

At first this may seem a little beyond the scope of
GATA's immediate work, the restoration of a free
market in gold. But it involves the purposes of the gold
price suppression scheme, and it raises the possibility
of our gaining support from U.S. manufacturing interests,
which are particularly devastated by the overvaluing of
the U.S. dollar that results from the gold price
suppression scheme.

GATA is not strictly a gold-standard advocacy organization,
but the question long raised by Parks and FAME and now
by Representative Paul is compelling: If government-issued
money is so good intrinsically, why is any law necessary
to compel people to accept it?

Parks' statement is below.

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

* * *

STATEMENT BY LARRY PARKS
Executive Director
Foundation for the Advancement of Monetary Education
August 1, 2003

U.S. Rep. Paul, R-Texas, has introduced HR 2779, the
Honest Money Act for the Repeal Of Legal Tender Laws.

Those who have followed FAME's work know that legal
tender -- forced tender -- is the lynchpin of our
corrupt and dishonest monetary system.

See Dr. Paul's statement at:

a href=http://www.fame.org/whatsnew.asphttp://www.fame.org/whatsnew.asp/a

See Dr. Paul's press release at:

a href=http://www.house.gov/paul/press/press2003/pr073103.htmhttp://www.house.g...

If you know of any U.S. manufacturers or labor unions that
is suffering on account of so-called trade with China, an
honest monetary system will be most helpful to them.
Without legal tender laws, goods purchased from abroad,
especially those that involve future payment, will begin
to be pegged against an objective standard -- for example,
gold or silver. Prices of imported goods will increase,
and there will be fewer such purchases.

Honest trade involves value for value; work for work.
Today the Chinese are not getting value for their exports
to us. What they are getting is, in fact, a potential
claim on something of value. That is not the same thing.

When the time comes for them to cash out, they will find
that all they have is a piece of paper or an electronic
blip that is subject to vast depreciation. Meanwhile the
United States is losing manufacturing jobs, manufacturing
infrastructure, and manufacturing know-how. Legal tender
fiat money plays a key role in this transfer.

If enough people express an interest in Dr. Paul's Honest
Money Act, defects in our monetary system will be placed on
the national agenda. Gresham's Law, which states that bad
money drives out good money, is valid only when the bad
money is legal tender.

Letters to the editor and e-mails to your friends to build
awareness will be most helpful.

Thank you very much in advance for your help and your time.

Best Regards,

Larry Parks, Executive Director
FAME (Foundation for the Advancement of Monetary Education)
Box 625, FDR Station
New York, NY 10150-0625

Tel: 212-818-1206
Fax: 212-818-1197
Email: Lparks@FAME.org
Internet site:
a href=http://www.FAME.orghttp://www.FAME.org/a