James Turk: Another commodity correction is behind us

10:55p ET Tuesday, December 5, 2006

Dear Friend of GATA and Gold:

GoldMoney's James Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, writes in an essay published today that another brief correction in the commodities markets is over and that the commodities boom has a long way to go. Turk writes:

"The reason for this bull market in commodities will surprise no one. It's the U.S. dollar. There are people around the world who would rather own $1 million worth of zinc or copper or soybeans or any other commodity than $1 million in a bank account, and for good reason. The purchasing power of the U.S. dollar is being inflated away, and this inflation will no doubt worsen in the weeks and months ahead. But zinc is zinc; the value of zinc and every other commodity is based on their utility, and that utility cannot be inflated away."

Turk's essay is titled "Another Commodity Correction Is Behind Us" and you can find it at Kitco here:

http://www.kitco.com/commentary/turk.htm

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

* * *

Join GATA
at the
2007 Vancouver Resource Investment Conference
Vancouver Convention and Exhibition Centre
Sunday and Monday, January 21 and 22, 2007

http://www.cambridgeconferences.com/ch_jan2007.html

Admission is free for those who register in advance. The conference has arranged discount rates at the Pan Pacific Hotel adjacent to the convention center.

* * *

Help Keep GATA Going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at www.GATA.org. GATA is grateful for financial contributions, which are federally tax-deductible in the United States.