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We''ve hit "The Street" Again

Section: Daily Dispatches

9 p.m. EDT Thursday, May 13, 1999

Dear Friends of GATA and Gold:

Here's GATA Chairman Bill Murphy's brief commentary
tonight to members of

It elaborates on the gold business news we were
expecting today.

Secretary, Gold Anti-Trust Action Committee Inc.


Le Metropole members:

Silver rocketed up 20 cents today and closed at $5.56.
$9.78 silver by year end has been our call all year and
we are sticking with it.

Last night I spoke of a coming bomb shell. Nothing
surfaced today, but I can fill you in on what is being
passed around the London gold community:

Gavyn Davies is a Goldman Sachs partner and is also
Tony Blair's economist. Davies is Golman Sach's
international economist and operates out of the U. K.
Davies just also happens to be the chief financial
advisor to Gordon Brown, who is Britain's Chancellor of
the Exchequer.

The well circulated rumor is that Goldman Sachs is
short 1,000 tonnes of gold and that Davies was the
influence behind the English decision to sell gold. It
would appear there is a big conflict of interest here,
to say the least.

In other words, this was a political decision to sell
England's gold (maybe to protect Goldman Sachs'

Haruko Fakuda, CEO of the World Gold Council, said
yesterday that the British decision to sell gold was a
political one and this story helps to confirm what she
was told.

In a Reuters story today, the former head of treasury,
Terry Smeeton, said the decision by Britain to sell
more than half of its reserves is ill-judged. "It's not
a policy I would have advocated when I was at the bank.
I am sad this action has been taken," he said.

"It's clearly a treasury decision in which the bank has
HAD to acquiesce."

Although there was no big news today, I did receive a
call from a London paper and there will be a gold story
of interest to our camp coming out very soon.

It is only a matter of time before the scandalous
manipulation of the gold market is exposed to all.

The Cafe is packing up and leaving the ocean town of
Rye, New Hampshire for Dallas, Texas, so while the Cafe
will be open, you probably will not be hearing from me
for a few days.

It has been a long time since I was in Texas. The last
time I was there was about 100 years ago when I played
with the Boston Patriots of the old American Football
League and we were playing the Houston Oilers in the
Houston Astrodome. At the time it was the only
artificial surface in the world. My how time flys and
things change.

As I had never seen anything like that, I stayed after
the normal practice before the game to practice my
timing with the QB. One thing led to another and almost
everyone had left the locker room when I finished what
I was doing. So I rushed to catch the team bus. I
rushed too fast and went down the ramp, instead of up.
All the exits were chained. I could not get out of the
place. Had to go back to the middle of the Astrodome
and yell for help. Just could not find my way out.

I finally was directed back to the locker room. But it
was too late. Missed a meeting and got fined. All over
the TV the next day. Locked in the Astrodome.

I trust that my Texas experience will be less
exasperating this time.

All the best and have a great weekend.

Bill Murphy, Le "Cowboy" Patron