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The Gold Anti-Trust Action Committee was organized in January 1999 to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities. The committee arose from essays by Bill Murphy, a financial commentator, and by Chris Powell, a newspaper editor in Connecticut, published at Murphy’s Internet site, www.lemetropolecafe.com.
Latest News
4:27p ET Thursday, December 13, 2018
Dear Friend of GATA and Gold:
In his new essay, "Gold -- A Perfect Storm for 2019," GoldMoney research director Alasdair Macleod itemizes the factors likely to favor gold and weaken the U.S. dollar and other currencies in the year ahead, especially as central banks engage in another frenzy of currency creation to stave off the next recession and sharp declines in stock and housing prices.
Of course the more that fundamentals favor gold against government currencies, the more governments may be inclined to use the futures markets to suppress the prices of gold, silver, and commodities generally. So GATA may have to keep working on that problem.
Macleod's analysis is posted at GoldMoney here:
https://www.goldmoney.com/research/goldmoney-insights/gold-a-perfect-sto...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]
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GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:
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Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
By Scott Deveau and Danielle Bochove
Bloomberg News
Thursday, December 13, 2018
Paulson & Co. has convinced shareholders of Detour Gold Corp. to overthrow the bulk of the Canadian miner's board of directors, including its interim CEO, ending a nasty six-month proxy battle.
Five of the Paulson-backed nominees were chosen, while Detour Chairman Alex Morrison and interim Chief Executive Officer Michael Kenyon were removed from the board during a special shareholders meeting today in Toronto, the miner said in a statement.
... Dispatch continues below ...
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Kenyon has resigned as CEO and James Gowans, who was one of three new directors appointed in August, will become the chairman, Detour said. The board will be fixed at nine members.
Marcelo Kim, a partner at Paulson who was on the hedge fund's slate of board nominees, was not elected.
"Seven out of eight directors have changed since we started this campaign," Kim said at the 18-minute shareholders' meeting that was closed to media. "But it's not about who won or who lost. It’s about what’s best for the company." ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2018-12-13/detour-gold-sharehold...
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Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
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Paulson & Co. Announcement
via Globe Newswire, Los Angeles
Thursday, December 13, 2018
NEW YORK -- Paulson & Co. Inc., one of the largest, long-term shareholders in Detour Gold Corp., today announced its appreciation to fellow shareholders for voting to bring positive change to Detour Gold and its support for the company's newly constituted Board of Directors.
At a special meeting of Detour Gold Shareholders today, shareholders voted to remove Lisa Colnett, Edward Dowling, Michael Kenyon, Alex Morrison, and Jonathan Rubenstein and to add Paulson director nominees Steve Feldman, Chris Robison, Ron Simkus, Dawn Whittaker, and Bill Williams. ...
... For the remainder of the announcement:
https://finance.yahoo.com/news/paulson-welcomes-wholesale-change-detour-...
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Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
12:25p ET Thursday, December 13, 2018
Dear Friend of GATA and Gold:
The U.S. Commodity Futures Trading Commission has refused to reply to or even to acknowledge GATA's questions about manipulation of the gold and silver futures markets that are purportedly regulated by the commission.
By letters in July and September, GATA asked the commission to explain the explosion in the use of the "exchange for physicals" mechanism of settling gold and silver futures contracts on the New York Commodity Exchange; to determine whether gold futures prices had been linked by the Chinese government's manipulative trading to the value of the yuan; and whether the commission has jurisdiction over manipulative futures trading by the U.S. government itself.
... Dispatch continues below ...
Fisher Precious Metals is preparing and equipping clients for the upcoming 'Everything Bubble'
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GATA's letters are posted here:
Having gone months without any acknowledgment from the commission, GATA asked your secretary/treasurer's U.S. representative, John B. Larson, Democrat of Connecticut's 1st District, to press the commission to reply, which his office did several times.
Today Larson's office forwarded a copy of a letter put into the mail to GATA yesterday by the commission's director of legislative affairs, N. Charles Thornton III. But Thorton's reply is little more than a form letter, outlining the commission's general objectives and purposes. Thornton makes no reference to GATA's questions:
http://gata.org/files/CFTCReply-12-12-2018.pdf
Ordinarily a response so vapid could be considered insulting, but it fairly may be taken as confirmation that the U.S. government and other governments are surreptitiously rigging commodity markets, as has been strongly suggested by the official filings of CME Group, operator of the New York Commodities Exchange and other commodities exchanges in the United States. These filings report that governments and central banks are among the exchange operator's clients and receive discounts from the exchanges for their secret trading of all commodity futures contracts:
http://www.gata.org/node/14385
http://www.gata.org/node/14411
GATA's correspondence with the CFTC shows how easy it is to demonstrate government instigation of or complicity with market manipulation. Since demonstrating this is so easy, the bigger challenge is to persuade mainstream financial news organizations to pursue the issue and to persuade commodity-producing companies and their investors to agitate against it.
You can help by bringing GATA's work to their attention and urging them to act.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]
* * *
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
| Attachment | Size |
|---|---|
| CFTCReply-12-12-2018.pdf | 48.36 KB |
... The commentary below is an echo of New York Fed Chairman Beardsley Ruml's crucial observations in 1946:
http://home.hiwaay.net/~becraft/RUMLTAXES.html
* * *
Bitcoin Will Be Worthless Until You Can Pay Your Taxes with It
By Mark Cudmore
Bloomberg News
Thursday, December 13, 2018
When faced with the charge that cryptocurrencies have no inherent value, believers often counter that paper money doesn't either. Such a defense is intuitive, but it's wrong. Fiat currencies, as they're known, are "backed" by the government that issues them.
That means, in practice, that you need them to pay your taxes. As long as a country is functioning -- that is, as long as it's collecting taxes and spending the proceeds on such things as police, schools, and highways -- its money has value.
... Dispatch continues below ...
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For more information, please visit Bullion Star here:
Cryptocurrencies, on the other hand, have derived their worth from a steady stream of converts -- or, from the point of view of skeptics, greater fools -- who at the moment appear to be in short supply.
To have staying power, Bitcoin will need governments to allow citizens to settle their tax bills with the new currency. That will be a hard sell, since national governments will be reluctant to collect taxes in a denomination they don't control. ...
... For the remainder of the commentary:
https://www.bloomberg.com/news/articles/2018-12-13/bitcoin-will-be-worth...
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Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
By Danielle Bochove, Thomas Biesheuvel, and Kenneth Karuri
Bloomberg News
Wednesday, December 12, 2018
Barrick Gold Corp. has reached an agreement with the Tanzanian government on a $300 million payment, a milestone toward resolving a dispute that has crippled the miner’s subsidiary in the African country, according to people familiar with the situation.
Executives from the Toronto-based producer and Randgold Resources Ltd., which is being bought by Barrick, met with Tanzanian negotiators on Dec. 7, said the people, who declined to be identified as the talks are private.
During that meeting the two sides made significant progress on a deal that includes Acacia Mining paying $300 million in installments. The terms are now being handed off to a tax working group in Tanzania for review, the people said. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2018-12-12/barrick-gold-is-said-...
Goldco Is America's No. 1 Gold IRA Provider
Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.
Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.
To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
11:20p ET Tuesday, December 11, 2018
Dear Friend of GATA and Gold:
Today's edition of GATA Board of Directors member Ed Steer's Gold & Silver Digest letter, headlined "The Powers That Be Were Everywhere Yesterday," is posted in the clear at GoldSeek here:
http://news.goldseek.com/GoldSeek/1544563584.php
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]
We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth
With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.
Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.
Crucial guides to storage in Singapore and Switzerland can be read here:
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http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland
GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.
Email the GoldCore team at [email protected] or call our trading desk:
UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.
Visit us at: http://www.goldcore.com
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
5:09p ET Tuesday, December 11, 2018
Dear Friend of GATA and Gold:
According to the TF Metals Report's Craig Hemke, writing again at Sprott Money, investors fairly may expect a rally in monetary metals prices around the turn of the year, since that has happened for the last five years. But, Hemke adds, bullion banks will be lying in wait to try to keep prices from breaking above too many moving averages.
Hemke's analysis is headlined "Gold and Silver Price Goals for Year-End" and it's posted at Sprott Money here:
https://www.sprottmoney.com/Blog/gold-and-silver-price-goals-for-year-en...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]
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Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
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