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GATA - Gold Anti-Trust Action Committee
Manchester, Conn.

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.

GATA - Gold Anti-Trust Action Committee is not verified as a 501(c)3 organization.

Latest News

Feb 22, 2019

By Ed Hammond, Scott Deveau, Dinesh Nair, and Danielle Bochove
Bloomberg News
Friday, February 22, 2019

Barrick Gold Corp., the world's second-largest gold producer, confirmed today tdhat it has considered a bid for Newmont Mining Corp. as the Canadian mining giant looks for ways to boost production.

Barrick has reviewed the opportunity to merge with Newmont in an "all-share nil premium transaction," but no decision was taken, the company said in a statement. One possibility that Barrick has studied would involve teaming up with a partner, such as Newcrest Mining Ltd., in a bid for Newmont, people familiar with the matter said earlier.

... Dispatch continues below ...



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First Vanadium Acquires Strategic Land Position
Extending the Carlin Vanadium Deposit in Nevada

Company Announcement
Thursday, January 31, 2019

VANCOUVER, British Columbia, Canada -- First Vanadium Corp. (TSXV: FVAN, OTCQX: FVANF, FSE: 1PY), formerly Cornerstone Metals Inc., has made a strategic acquisition of the southern extension of the Carlin Vanadium deposit 6 miles south of Carlin, Nevada.

The company has gained mineral rights to an additional 200-meter strike length of the Carlin Vanadium deposit through an access and mineral lease agreement to approximately 80 acres of private (fee simple) land immediately adjacent to the Carlin Vanadium property (called the Cole Creek property). Six vertical holes drilled by Union Carbide in the 1960s on this adjacent ground demonstrated a southern continuance of the Carlin Vanadium deposit with thicknesses ranging from 10.67 meters to 28.96 meters (average 18.54 meters or 60.8 feet) and grades ranging from 0.37 to 0.82 percent vanadium oxide (average 0.57 percent V2O5). ...

... For the remainder of the announcement:

https://www.firstvanadium.com/index.php/news/2019/485-



Greenwood Village, Colorado-based Newmont has a market value of almost $19 billion. Newmont's shares climbed 3.8 percent before regular trading in New York, while Barrick slipped. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2019-02-22/barrick-gold-is-said-...

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Feb 22, 2019

By Niall McGee and Rachelle Younglai
The Globe and Mail, Toronto
Thursday, February 21, 2019

Barrick Gold Corp. is mulling a takeover bid for Newmont Mining Corp., a transaction that would represent one of the largest mining deals ever and solidify the Toronto-based company’s position as the world's largest gold producer.

Barrick is working on a plan for a two-step deal that would see it take over Colorado-based Newmont for about US$19 billion in stock, then flip some of Newmont's assets to Australia's Newcrest Mining, according to industry sources familiar with the situation.

... Dispatch continues below ...



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First Vanadium Acquires Strategic Land Position
Extending the Carlin Vanadium Deposit in Nevada

Company Announcement
Thursday, January 31, 2019

VANCOUVER, British Columbia, Canada -- First Vanadium Corp. (TSXV: FVAN, OTCQX: FVANF, FSE: 1PY), formerly Cornerstone Metals Inc., has made a strategic acquisition of the southern extension of the Carlin Vanadium deposit 6 miles south of Carlin, Nevada.

The company has gained mineral rights to an additional 200-meter strike length of the Carlin Vanadium deposit through an access and mineral lease agreement to approximately 80 acres of private (fee simple) land immediately adjacent to the Carlin Vanadium property (called the Cole Creek property). Six vertical holes drilled by Union Carbide in the 1960s on this adjacent ground demonstrated a southern continuance of the Carlin Vanadium deposit with thicknesses ranging from 10.67 meters to 28.96 meters (average 18.54 meters or 60.8 feet) and grades ranging from 0.37 to 0.82 percent vanadium oxide (average 0.57 percent V2O5). ...

... For the remainder of the announcement:

https://www.firstvanadium.com/index.php/news/2019/485-



The sources, who were granted anonymity by The Globe because they were not authorized by their employers to speak publicly, cautioned that there are still a number of hurdles. One of those obstacles is winning support from shareholders of Newmont. The company is attempting to close its own US$10 billion acquisition of Vancouver miner Goldcorp Inc., which was announced only last month.

Under the potential terms of the deal, Barrick would keep Newmont’s Nevada and African mines, while Newcrest would take over its Australian operations, which are worth billions. ...

... For the remainder of the report:

https://www.theglobeandmail.com/business/article-barrick-eyes-hostile-bi...

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Feb 22, 2019

... just days after Bullion Star's Ronan Manly questions bank's custody of them:

http://www.gata.org/node/18882

* * *

Australia's Gold ... Safely in the Hands of the Bank of England

By Shane Wright
Sydney Morning Herald, Sydney, Australia
Friday, February 22, 2019

Those looking to break into the Reserve Bank of Australia's Sydney headquarters looking for a stash of gold are going to be disappointed.

The bank explained to a parliamentary committee today that its store of gold -- all 80 tonnes of it -- is 17,000 kilometres away in the Bank of England.

... Dispatch continues below ...



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First Vanadium Acquires Strategic Land Position
Extending the Carlin Vanadium Deposit in Nevada

Company Announcement
Thursday, January 31, 2019

VANCOUVER, British Columbia, Canada -- First Vanadium Corp. (TSXV: FVAN, OTCQX: FVANF, FSE: 1PY), formerly Cornerstone Metals Inc., has made a strategic acquisition of the southern extension of the Carlin Vanadium deposit 6 miles south of Carlin, Nevada.

The company has gained mineral rights to an additional 200-meter strike length of the Carlin Vanadium deposit through an access and mineral lease agreement to approximately 80 acres of private (fee simple) land immediately adjacent to the Carlin Vanadium property (called the Cole Creek property). Six vertical holes drilled by Union Carbide in the 1960s on this adjacent ground demonstrated a southern continuance of the Carlin Vanadium deposit with thicknesses ranging from 10.67 meters to 28.96 meters (average 18.54 meters or 60.8 feet) and grades ranging from 0.37 to 0.82 percent vanadium oxide (average 0.57 percent V2O5). ...

... For the remainder of the announcement:

https://www.firstvanadium.com/index.php/news/2019/485-



About 6,400 bars of the precious metal, which according to RBA governor Philip Lowe is worth about $4 billion, is sitting with 400,000 other bars in special vaults in the world's gold-trading capital.

Later this year a special audit will be conducted to ensure all these bars are there and that they weigh the 80 tonnes the Reserve Bank has on its ledger. ...

Last financial year about 10 tonnes of the precious metal was leased. In the early parts of the 2000s, almost all of it was being borrowed. ...

... For the remainder of the report:

https://www.smh.com.au/politics/federal/australia-s-gold-safely-in-the-h...

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Feb 22, 2019

8:28p ET Thursday, February 21, 2019

Dear Friend of GATA and Gold:

At the urging of Jim Cook of Investment Rarities and with the assistance of 24hGold, silver market analyst Ted Butler's most recent proprietary letter has been posted in the clear.

This edition examines the failure of the U.S. Commodity Futures Trading Commission and the Justice Department to investigate the concentrated and manipulative short position in the silver futures market.

... Dispatch continues below ...



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First Vanadium Acquires Strategic Land Position
Extending the Carlin Vanadium Deposit in Nevada

Company Announcement
Thursday, January 31, 2019

VANCOUVER, British Columbia, Canada -- First Vanadium Corp. (TSXV: FVAN, OTCQX: FVANF, FSE: 1PY), formerly Cornerstone Metals Inc., has made a strategic acquisition of the southern extension of the Carlin Vanadium deposit 6 miles south of Carlin, Nevada.

The company has gained mineral rights to an additional 200-meter strike length of the Carlin Vanadium deposit through an access and mineral lease agreement to approximately 80 acres of private (fee simple) land immediately adjacent to the Carlin Vanadium property (called the Cole Creek property). Six vertical holes drilled by Union Carbide in the 1960s on this adjacent ground demonstrated a southern continuance of the Carlin Vanadium deposit with thicknesses ranging from 10.67 meters to 28.96 meters (average 18.54 meters or 60.8 feet) and grades ranging from 0.37 to 0.82 percent vanadium oxide (average 0.57 percent V2O5). ...

... For the remainder of the announcement:

https://www.firstvanadium.com/index.php/news/2019/485-



Butler writes: "An underground mine in Peru that digs out of the earth 4 million ounces in a year was just shut down due to low silver prices. Yet at the same time and price, eight crooked banks have increased their net speculative short position to more than 100 times that mine's annual production.

"If the Justice Department doesn't see something drastically wrong with that, then all hope for the rule of law is lost. Remember, concentration is the one absolute requirement in any manipulation. In silver, the concentration is off the charts."

Butler's letter is headlined "Mr. Butler's Silver Newsletter -- Icing on the Cake" and it's posted at 24hGold here:

http://www.24hgold.com/english/news-gold-silver-mr-butler-s-silver-newsl...

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Feb 21, 2019

4:17p ET Thursday, February 21, 2019

Dear Friend of GATA and Gold:

GoldMoney research director Alasdair Macleod argues today that only reimposition of a gold standard can save Western countries from the hyperinflationary collapse made inevitable by their welfare-state model of government. The example of Germany during and just after World War I, Macleod writes, shows how quickly a fiat currency can crash once people apprehend its devaluation, though he acknowledges that through market rigging and data doctoring Western welfare states have prolonged the process of recognition.

Macleod's commentary is headlined "The Return to a Gold Exchange Standard" and it's posted at GoldMoney here:

https://www.goldmoney.com/research/goldmoney-insights/the-return-to-a-go...

GATA does not advocate returning to a gold standard, as it's all the organization can do simply to discern and expose what sort of systems are being operated largely surreptitiously by central banks. But we're generally of the opinion that if the monetary metals markets are ever liberated from central bank intervention, the world will remonetize them all by itself in less than a week -- which is precisely why central banks intervene so relentlessly against the monetary metals.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]



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First Vanadium Acquires Strategic Land Position
Extending the Carlin Vanadium Deposit in Nevada

Company Announcement
Thursday, January 31, 2019

VANCOUVER, British Columbia, Canada -- First Vanadium Corp. (TSXV: FVAN, OTCQX: FVANF, FSE: 1PY), formerly Cornerstone Metals Inc., has made a strategic acquisition of the southern extension of the Carlin Vanadium deposit 6 miles south of Carlin, Nevada.

The company has gained mineral rights to an additional 200-meter strike length of the Carlin Vanadium deposit through an access and mineral lease agreement to approximately 80 acres of private (fee simple) land immediately adjacent to the Carlin Vanadium property (called the Cole Creek property). Six vertical holes drilled by Union Carbide in the 1960s on this adjacent ground demonstrated a southern continuance of the Carlin Vanadium deposit with thicknesses ranging from 10.67 meters to 28.96 meters (average 18.54 meters or 60.8 feet) and grades ranging from 0.37 to 0.82 percent vanadium oxide (average 0.57 percent V2O5). ...

... For the remainder of the announcement:

https://www.firstvanadium.com/index.php/news/2019/485-



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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Feb 21, 2019

By Patricia Laya
Bloomberg News
Thursday, February 21, 2019

Citigroup bankers have been holding talks with U.S. Treasury officials to figure out how to handle a gold deal they had arranged with Nicolas Maduro's regime in Venezuela, people familiar with the matter said.

The deal -- a $1.1 billion swaps contract backed by gold held by the Venezuelan central bank -- was struck before the U.S. stepped up sanctions on Maduro's government. But it's due to expire early next month and Citigroup bankers are seeking to make sure they avoid making a move now that would violate the sanctions, according to Senator Marco Rubio and other U.S. and Venezuelan officials familiar with the matter.

... Dispatch continues below ...



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First Vanadium Acquires Strategic Land Position
Extending the Carlin Vanadium Deposit in Nevada

Company Announcement
Thursday, January 31, 2019

VANCOUVER, British Columbia, Canada -- First Vanadium Corp. (TSXV: FVAN, OTCQX: FVANF, FSE: 1PY), formerly Cornerstone Metals Inc., has made a strategic acquisition of the southern extension of the Carlin Vanadium deposit 6 miles south of Carlin, Nevada.

The company has gained mineral rights to an additional 200-meter strike length of the Carlin Vanadium deposit through an access and mineral lease agreement to approximately 80 acres of private (fee simple) land immediately adjacent to the Carlin Vanadium property (called the Cole Creek property). Six vertical holes drilled by Union Carbide in the 1960s on this adjacent ground demonstrated a southern continuance of the Carlin Vanadium deposit with thicknesses ranging from 10.67 meters to 28.96 meters (average 18.54 meters or 60.8 feet) and grades ranging from 0.37 to 0.82 percent vanadium oxide (average 0.57 percent V2O5). ...

... For the remainder of the announcement:

https://www.firstvanadium.com/index.php/news/2019/485-



"The one thing, no banker, global or financial institution is going to do is run the risk of secondary sanctions," Rubio, who's been helping drive the U.S. push to oust Maduro, said in a telephone interview late Wednesday. "The sale of gold is another revenue source that the Maduro regime is using and I know for a fact that Citibank has had multiple meetings with Treasury seeking guidance, trying to figure out how to avoid exposure." ...

The four-year swaps contract -- which handed Venezuela a loan in exchange for putting the gold up as collateral -- matures on March 11. Because the cash-strapped Maduro regime is unlikely to come up with the money it had received in the deal, Citigroup could wind up getting the gold. Allies of Juan Guaido, the legislator who's trying to take power from Maduro with the help of the U.S. and other countries, are lobbying the bank to not take possession of it as part of their effort to safeguard the nation's dwindling assets.

"Citi hasn't responded publicly, but they understand the situation and are willing to collaborate and we're asking them not to execute the guarantee," said Angel Alvarado, who's a member of the National Assembly's finance commission. "We're waiting to see what mechanisms will be used. The strategy is to protect assets."

Under the contract's current terms, if Venezuela does not pay next month, Citi would keep the gold and only pay the central bank the difference in value since the metal's price has increased since it was signed in 2015. In the meantime, the gold would remain inside the Bank of England's vaults, according to one person familiar with the issue.

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2019-02-21/citigroup-huddles-wit...

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Feb 21, 2019

10a ET Thursday, February 21, 2019

Dear Friend of GATA and Gold:

The Shareholders' Gold Council, started last year by fund manager John Paulson "to conduct research reports and studies of interest to investors in the gold industry" (https://www.goldcouncil.net/), has rejected GATA's requests for membership and to make a presentation about manipulation of the gold market by central banks and their bullion bank agents.

... Dispatch continues below ...



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First Vanadium Acquires Strategic Land Position
Extending the Carlin Vanadium Deposit in Nevada

Company Announcement
Thursday, January 31, 2019

VANCOUVER, British Columbia, Canada -- First Vanadium Corp. (TSXV: FVAN, OTCQX: FVANF, FSE: 1PY), formerly Cornerstone Metals Inc., has made a strategic acquisition of the southern extension of the Carlin Vanadium deposit 6 miles south of Carlin, Nevada.

The company has gained mineral rights to an additional 200-meter strike length of the Carlin Vanadium deposit through an access and mineral lease agreement to approximately 80 acres of private (fee simple) land immediately adjacent to the Carlin Vanadium property (called the Cole Creek property). Six vertical holes drilled by Union Carbide in the 1960s on this adjacent ground demonstrated a southern continuance of the Carlin Vanadium deposit with thicknesses ranging from 10.67 meters to 28.96 meters (average 18.54 meters or 60.8 feet) and grades ranging from 0.37 to 0.82 percent vanadium oxide (average 0.57 percent V2O5). ...

... For the remainder of the announcement:

https://www.firstvanadium.com/index.php/news/2019/485-



A representative of the council has told GATA that "our focus is on the companies themselves, not the gold market."

Of course that's not quite how the council's internet site describes it, but the council is entitled to what seems to be its opinion that the manipulation of the price of the metal produced by gold-mining companies is of no interest to the companies themselves.

Shareholders in gold-mining companies might be equally entitled to some puzzlement about this.

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Feb 21, 2019

By Jenny Strasburg and Gretchen Morgenson
The Wall Street Journal
Wednesday, February 20, 2019

Deutsche Bank racked up a loss of $1.6 billion over nearly a decade on a complex municipal-bond investment that it bought in the run-up to the 2008 financial crisis and failed to confront even as markets were upended and regulations tightened.

The loss, which hasn't previously been reported, represents one of Deutsche Bank's largest ever from a single wager -- roughly quadruple its entire 2018 profit -- and ranks as one of the banking industry's biggest soured bets in the last decade.

... Dispatch continues below ...



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Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.

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The prolonged struggle over how to handle the investment sheds light on cultural and financial challenges inside one of Europe's biggest banks that have hampered its ability to compete with stronger U.S. rivals.

Deutsche Bank resisted for years reducing the value of those bonds and related derivatives on its books to a level that markets suggested they were worth, and it brushed aside concerns raised by the bank's financial auditors about how it was valuing the trade, according to internal bank documents and people involved in discussions about the investment.

During that time period, the bank was telling investors its internal financial controls were sound, and it raised billions of dollars in the capital markets without any disclosure of the bond valuation issue. Behind the scenes, the badly timed bet exerted a sustained drag on the bank's finances. ...

... For the remainder of the report:

https://www.wsj.com/articles/deutsche-bank-lost-1-6-billion-on-a-bond-be...

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16