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All we can do is to do things to try to hasten the day
10:31a PT Sunday, June 5, 2011
Dear Friend of GATA and Gold:
Our friend Todd writes:
"Guys, I admire your mission, but year after year nothing really changes.
"What exactly is being done to change this deplorable situation with the U.S. Commodity Futures Trading Commission, investment banks, and U.S. government? How long does this nonsense go on? Is there anything that we can do other than write a check and go with the flow?
"I just get so sick of reading about the Comex's supposed imminent collapse year in and year out while the price of precious metals drops in the morning, struggles, and drops in the afternoon with funny-paper sales. Judging status quo, nothing can be done and nothing is being done.
"It's the most enduring untenable situation I've ever seen -- untenable but also shameful and deplorable."
Your secretary/treasurer replied:
"Thanks for your note. GATA shares your frustration, but when we get discouraged we review the long-term charts of gold and silver. They've been rising steadily since GATA was founded back in 1999 -- not that we claim to be so responsible for that. But the price suppression scheme is being found out and markets are reacting to this knowledge. The price suppressors are losing. The charts show it.
"GATA's work has been and remains largely a matter of two things: publicity and litigation. We aim to expose the market rigging and thereby discourage people from trading in rigged markets, particularly the futures markets. Rather, we urge people to take possession of real monetary metal and store it outside the banking system, where it is always at risk of being commandeered for market rigging.
"Second, we litigate against the manipulation, as we recently sued the Federal Reserve and won, demonstrating that the Fed has gold secrets and that some of those secrets involve market manipulation.
"We don't know exactly how or when the manipulation will end. But the tipping point in the markets may come suddenly, or there may be an overnight official international currency revaluation that incorporates revaluation of the monetary metals. All we can do is indeed do things that may hasten the day. As we've had some success, we hope for more and are grateful for your support."
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Lewis E. Lehrman on How to Solve the U.S. Debt Problem
Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, advises that to reduce the $1 1/2 trillion U.S. deficit, the Republican Party must initiate an investment program.
Working Americans are not saving, which enables the banks to lead the country into a cycle of debt, leverage, boom, panic, and bust.
Lehrman says: "Eliminating the budget deficit of a trillion and a half dollars cannot be done overnight. The proposal by U.S. Rep. Paul Ryan was very dramatic -- one Republican called it radical -- but it was not happily received. The solution, of course, is to design an American program for prosperity, because you can solve these entitlement problems with a growing economy.
"We need a tremendous program of investment, and investment comes from savings. When you pay savers, middle-income professionals and working people, 0 percent at the bank, you are not going to encourage them
to save. Then we are left with a bank cycle of debt, leverage, boom, panic, and bust."
To read more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit:
http://www.thegoldstandardnow.org/gata
Join GATA here:
World Resource Investment Conference
Sunday-Monday, June 5-6, 2011
Vancouver Convention Centre East
Vancouver, British Columbia, Canada
http://cambridgehouse.com/conference-details/world-resource-investment-c...
Gold Rush 2011
GATA's London Conference
Thursday-Saturday, August 4-6, 2011
Savoy Hotel, London, England
http://www.gatagoldrush.com
Support GATA by purchasing gold and silver commemorative coins:
https://www.amsterdamgold.eu/gata/index.asp?BiD=12
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
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Prophecy Resource (TSXV:PCY) and Pacific Coast Nickel (TSXV:NKL)
Begin 8,000-Meter Drilling Program Wellgreen Project
Company Press Release, June 2, 2011
VANCOUVER, British Columbia -- Prophecy Resource Corp. TSX-V:PCY, OTC-QX: PRPCF, Frankfurt: 1P2) and Pacific Coast Nickel Corp. (TSX-V: NKL, US-PINK: PNIKF, Frankfurt: P94) have begun an expansion drilling program on their Wellgreen platinum, nickel, and copper project in the Yukon Territory, Canada. The program has been commenced by Prophecy and will be completed by Pacific Coast Nickel upon completion of the arrangement transaction whereby Pacific Coast Nickel will acquire the Lynn Lake and Wellgreen properties from Prophecy.
The program includes 8,000 meters of solid-core diamond drilling from through September with up to three drills to test at least 17 infill and exploration targets. This drilling will augment the existing resource which is being updated to National Instrument 43-101 standards by Wardrop Engineering, a Tetra-tech company. The resource estimate (based on 701 drillings before 2011) is expected to be released in July. The 2011 drilling is aimed to further augment the
resource estimate.
The grades and type of disseminated mineralization at Wellgreen are highly analogous to those observed in Minnesota's Duluth Complex.
For the complete company statement, please visit:
http://www.prophecycoal.com/news_2011_jun02_Prophecy_Commence_8000_Wellg...
