An open letter to Homestake Mining''s CEO

8p EDT Sunday, November 5, 2000

Dear Friend of GATA and Gold:

Reg Howe has written a detailed memorandum about the
legal aspects of the attempt of the Bank for
International Settlements to expropriate its private
shareholders. His eloquent introduction to his effort
to prevent that expropriation, underwritten by GATA, has
been posted at his Internet site, www.GoldenSextant.com,
and appears below.

The memorandum itself is very long and can be read at:

www.goldensextant.com/BIS.html#anchor139193

It's well worth it.

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

* * *

Don Quixote de Oro: El Abogado

By Reginald H. Howe
www.GoldenSextant.com
November 4, 2000

Initial drafts of the remaining sections of my
memorandum about action against the Bank for
International Settlements are now posted at
www.GoldenSextant.com in the section headlined quot;BIS:
Bank for Intervention and Subversion.quot;

Many thanks to those who have responded to this new
site feature with contributions to GATA. Thanks too to
all who have sent me e-mails with comments and
suggestions. Some will find evidence of their input in
the new materials just posted, proving again that two
heads are often better than one. Also appreciated are
the several expressions of concern about my personal
safety, although in this context that is a matter
largely outside my control.

Of all the e-mails that I received about the BIS
project, the most difficult to answer put the following
question: quot;What is the minimum that GATA must raise to
launch a suit against the BIS?quot; I answered:

There is no good answer to the question. In any legal
attack of the sort GATA contemplates, the other side
will spend millions. What will it take to wage an
effective battle against that? I don't know. I think
GATA's target of $100,000 is appropriate for the time
being. But that amount is less than the annual starting
salary for a first-year associate at a big law firm in
Boston today. So in that sense, $100,000 is like one
rookie ball player taking on the New York Yankees.

But then David did beat Goliath. It's just not the way
to bet. My role is to help GATA and Bill Murphy do the
best they can with whatever funds they can raise. The
more they raise, the better the show we can put on.

But money is not the only requirement. Information --
people willing to come forward and testify to relevant
facts or provide relevant data or documents -- is just
as important if not more so. Many can give money. Only
a few can or will give critical evidence. The gold
cabal has declared war on free markets, free
governments and the Constitution itself, but the cabal
has yet to produce a John Dean.

By now regular visitors to www.GoldenSextant.com must
know that Daniel Webster ranks high on my list of
heroes. quot;The Millennial Candidate,quot; my project in the
realm of fiction, is necessarily on hold. But as our
intrepid band of GATA supporters and gold bugs goes
forward on the BIS project, and whatever the result,
there will be a reward on which no price can be put, in
gold or dollars. In the only capital case he ever
prosecuted, a murder trial that ranked as the O.J. case
of its day, Webster concluded with these words to the
jury:

quot;There is no evil that we cannot either face or fly
from, but there is consciousness of duty disregarded. A
sense of duty pursues us ever. It is omnipresent, like
the Deity. If we take to ourselves the wings of the
morning, and dwell in the uttermost parts of the sea,
duty performed, or duty violated, is still with us, for
our happiness or our misery. If we say the darkness
shall cover us, in the darkness as in the light our
obligations are yet with us. We cannot escape their
power, nor fly from their presence. They are with us in
this life, will be with us at its close; and in that
scene of inconceivable solemnity, which lies yet
further onward, we shall still find ourselves
surrounded by the consciousness of duty, to pain us
wherever it has been violated, and to console us so far
as God may have given us grace to perform it.quot;