More than one departure at Morgan Chase

11:02 CT Friday, May 10, 2002

Dear Friend of GATA and Gold:

An excerpt from www.TheMiningWeb.com.

a href=http://www.mips1.net/MGGold.nsf/Current/4225685F0043D1B2http://www.mips1...
85256BB500659ACE?OpenDocument

Gold hedging mastermind
contemplates retirement

By Tim Wood

PRINCETON, New Jersey -- The man credited
more than anyone else with spawning the gold
hedging boom of the 1990s genially shrugs off
talk that he has been fired.

The news surfaced in a report circulated by
Gold Anti-Trust Action Committee chairman
Bill Murphy. The affable and urbane Dinsa
Mehta of Morgan Chase said of the rumours:
quot;An endearing feature of the gold market is
that it has had a hard-core of conspiracy
theorists providing sideshow entertainment
for 20 years. Their consistency in occupying
the lunatic fringe is admirable.quot;

As head of Global Commodity Risk and Global
FX Options for the giant institution, Mehta
says he advocated combining the bank's
foreign exchange businesses as a single asset
class, and bullion was positioned into that
grouping. This enabled Mehta to contemplate
moving on to retirement....

* * *

Just a coincidence? Bill Demchak, global head
of the structured finance and credit portfolio of
J.P. Morgan Chase, resigned on April 18. That
was just about the time Mehta quot;supposedlyquot;
resigned. Mehta, like Demchak, came from Chase
and was with them for 16 years.

The smoke is bellowing from Morgan's New
York headquarters. How come they both
decided to give up lucrative careers at the
same time at such young ages?

So two members of Morgan's brain power all
of a sudden decide to RETIRE voluntarily at
the same time. Dufus America, no longer! You
cannot buy this Enron-like drivel.

There is no free press in America. If there
were, there would have been an honorable
discussion of what GATA and Reg Howe had to
say, as with so many other issues that get
discussed ad nauseum.

Why has GATA's evidence of gold price
manipulation been embargoed by the U.S.
press?

Wrong, am I? Do a Google search as Nick
Laird of Australia did on Dinsa Mehta, a member
of the Gold Cartel, and then see how much you
find on GATA or Reg Howe from the Wall Street
Journal, New York Times, Washington Post,
Reuters, Bloomberg, etc., as we unveil one of
the biggest financial scandals in history.

What a stink this is. The good news is that
the GATA army is on a roll. We will bury
these arrogant bums. Hip-hip!

Long live the enveloping horn!

BILL MURPHY, Chairman