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Alasdair Macleod: The global politics of gold
6:12p ET Sunday, September 26, 2010
Dear Friend of GATA and Gold:
In his latest essay the economist and former banker Alasdair Macleod explains concisely the worldwide strategic struggle under way between East and West over gold.
Macleod writes: "... the Western central bank cartel deliberately withholds information from the markets, lending credence to worst-case suspicions. They refuse to divulge leasing commitments and swap agreements. The Fed also refuses an independent audit of its gold reserves. While everyone accepts that central banks manipulate markets, the deliberate lack of information encourages suspicions that the cartel has little disposable gold left to deliver to the market. In contrast to the ex-communists, the cartel is managing information very badly."
Macleod's essay is of importance similar to that of the presentation made to the 2009 Unrestricted Warfare Symposium at Johns Hopkins University by Omnis Senior Managing Director Jim Rickards:
Macleod's essay is titled "The Global Politics of Gold" and you can find it at his Internet site, Finance and Economics, here:
http://www.financeandeconomics.org/Articles%20archive/2010.09.27%20Gold%...
If you read only one thing about gold today, it should be this.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Sona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration of Elizabeth Gold Property
On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia.
Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013."
For complete information on Sona Resources Corp. please visit: www.SonaResources.com
Join GATA here:
The Silver Summit
Thursday-Friday, October 21-22, 2010
Davenport Hotel, Spokane, Washington
http://www.silversummit.com/
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Wednesday-Saturday, October 27-30, 2010
Hilton New Orleans Riverside Hotel
http://www.neworleansconference.com/redirect.php?page=index.html&source_...
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Prophecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource
Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management team includes John Morganti, Arnold Armstrong, and Rob McEwen.
For Prophecy's complete press release about its production plans, please visit:
http://www.prophecyresource.com/news_2010_may11.php
