John Hathaway examines Morgan''s gold position

1a EDT Thursday, May 10, 2000

Dear Friend of GATA and Gold:

On Wednesday the GATA delegation to Washington met
with high officials of Congress and their staffs to present
evidence that the price of gold is being manipulated and
that gold loans have reached levels that threaten the U.S.
and world banking systems. We presented GATA's new
report, quot;Gold Derivative Banking Crisis,quot; and asked that
Congress inquire officially into the gold market.

We had three meetings at the Capitol and were well
received at each. We were asked to provide certain
additional information and particularly potential questions
for various government officials and financial institutions,
and to return to Washington soon for additional meetings
with some of the people we met Wednesday.

We will have a few more meetings today.

You'll have to forgive my being a little vague here; it
wouldn't be right to identify yet those who met with us
and who are considering getting involved with the gold
issue. Besides, it might expose them to premature
intervention or retaliation from gold's enemies. But I
hope it will suffice to say that today couldn't have
gone better, that we couldn't have met with more
important people with more appropriate jurisdiction
over the gold issue, that GATA now has brought and
will continue to bring the gold issue to the highest
levels of the U.S. government, and that we are hopeful
and even confident now that much will come from this
in the next few months and that our support from the
gold industry will grow with our success.

Please post this as seems useful.

CHRIS POWELL, Secretary/Treasurer