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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
From the Sound Money Defense League, Eagle, Idaho
Monday, September 14, 2026
Three pro-gold and silver groups have teamed up to present the second edition of the Sound Money Review, a scholarly journal dedicated to advancing principles of sound money.
The Sound Money Review, presented by Money Metals, Sound Money Defense League, and Sound Money Foundation, showcases compelling and relevant research, past and present, pertaining to sound money. These groups are the nation's leaders in sound money policy advocacy as well as publishers of the Sound Money Index, the nation's leading resource ranking all 50 states by their state laws pertaining to precious metals.
... Dispatch continues below ...
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This year's journal features writings from economists, legal scholars, philosophers, and historians, including Sound Money Fellows Anton Chamberlin, Ph.D. and Joseph Solis-Mullen. These scholars presented shorter articles on topics such as interest rate manipulation, the limitations of central planning, and sound money and the myth of militarism. ...
... For the remainder of the report:
* * *
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Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2026
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Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
Donations of US$500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
Just as with futures, how many times could an ounce be 'tokenized' to how many owners at the same moment? The Financial Conduct Authority hasn't been checking with 'paper' gold, so why would it check with 'tokens'?
* * *
Tokenised Gold Could Be Exempt from Fund Regulations under FCA Proposal
By Martin Arnold
Financial Times, London
Monday, September 14, 2026
Tokenised gold would be exempt from UK fund regulations under potential reforms the financial watchdog will present today as it seeks to strengthen London's dominant position as a centre for bullion trading and custody.
The Financial Conduct Authority will say it is considering whether "a bespoke regime for tokenised gold, or tokenised commodities more broadly" could be created along with the Treasury and the Bank of England.
... Dispatch continues below ...
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Guanajuato Silver Is Reactivating Silver and Gold Mines in Mexico
Guanajuato Silver is a precious metals producer reactivating past-producing silver and gold mines in central Mexico. The company produces silver and gold concentrates from the El Cubo Mines Complex, Valenciana Mines Complex, and the San Ignacio mine. All three mines are located within the state of Guanajuato, which has a 480-year mining history.
Additionally, the company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango state.
With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico.
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Tokenised gold involves creating digital assets that represent ownership rights over physical gold. Gold bars are held by the issuer as a backing asset for the tokens. The FCA believes this could help unlock more of London's bullion reserves as collateral in financial transactions.
"Unlike shares or debt securities, which are already issued, traded, and settled through mature electronic market infrastructures, tokenisation could make a traditionally physical and operationally complex asset easier to divide and transfer across digital markets," it will say today. ...
... For the remainder of the report:
https://www.ft.com/content/a45a2f1f-03d9-46aa-8307-fe89edd7e589
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2026
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By Andy Home
Reuters
via China Global South Project, Johannesburg, South Africa
Friday, September 11, 2026
The intensifying global competition for critical minerals could be a transformative moment for Africa.
The continent is already a major producer of energy transition metals such as copper, cobalt, and manganese but is nowhere near its full potential.
... Dispatch continues below ...
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First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The company owns and operates four producing underground mines in Mexico: the Cerro Los Gatos Silver Mine (the company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena Silver and Gold Mine, the San Dimas Silver and Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon gold project in northeastern Nevada, U.S.A.
In 2025 these mines are projected to produce between 27.8 to 31.2 million silver-equivalent ounces, consisting of 13.6 to 15.3 million ounces of silver and 129,000 to 144,000 ounces of gold, with an all-in sustaining cost of $19.89 to $21.27 per payable silver-equivalent ounce.
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Africa's share of global mineral revenues sits at just 10%, despite accounting for 30% of the world's reserves, according to the Brookings Institution.
There may be yet more riches hidden underground. It's difficult to know, because the continent was the target of just 10% of global mineral exploration in 2024, according to the U.S. think-tank Center for Strategic and International Studies.
Moving forward, however, that number is likely to increase as Africa becomes the front line in the global battle for resources, with the West vying with China for control of metals that are core components of both green technologies and AI data centers.
Can Africa seize its metallic moment? ...
... For the remainder of the report:
https://chinaglobalsouth.com/analysis/africa-critical-minerals-global-race/
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2026
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
9:12a ET Sunday, September 13, 2026
Dear Friend of GATA and Gold:
The weekend edition of GATA board member Ed Steer's Gold and Silver Digest is headlined "The Precious Metals Equities Get Smashed Again" and is posted in the clear at GoldSeek's companion site, SilverSeek, here:
https://silverseek.com/article/precious-metal-equities-get-smashed-again
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]
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Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2026
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By Alasdair Macleod
GoldMoney, Toronto
Friday, September 11, 2026
Usually, credit crises are in the private sector. Today it's a global government funding crisis from which there's no rescue. Gold and silver are the escape route.
This week brought the beginning of a government financing train wreck to public attention, affecting all G7 nations. That it is only the start of a crisis is the key point, as our oft-repeated chart below has been clearly demonstrating since the 40-year downtrend in bond yields was comprehensively broken in 2022.
... Dispatch continues below ...
... ADVERTISEMENT ...
Power Metallic Defines High-Grade Maiden Resource at Lion Zone Averaging 3.9% CuEq
with More Than 85% Indicated and Significant Expansion Potential
Company Announcement
Tuesday, September 8, 2026
TORONTO -- Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) announces an updated mineral resource estimate (MRE) for its Nisk Project (Power Metallic 80% / Critical Elements Lithium Corp. 20%) in the Eeyou Istchee James Bay territory of Quebec, including the inaugural mineral resource for the Lion Zone and an updated mineral resource for the Nisk Main deposit.
The MRE was prepared by SGS Canada Inc. (SGS) in accordance with National Instrument 43-101 and the CIM Definition Standards for Mineral Resources and Mineral Reserves, has an effective date of June 19, 2026, and incorporates drilling completed to April 19, 2026.
Power Metallic has declared the inaugural Mineral Resource Estimate for the Lion Zone, a high-grade, copper-dominant polymetallic deposit discovered in 2023 at the Nisk property. Over 85% of the initial Lion resource is classified as Indicated, while mineralisation remains open for expansion.
Lion contains 4,145,000 MT indicated at 3.86% CuEq (1.68% Cu, 2.61 g/t Pd, 0.85 g/t Pt, 0.49 g/t Au, 12.21 g/t Ag, 0.10% Ni), and 601,000 MT inferred at 4.01% CuEq (1.84% Cu, 2.86 g/t Pd, 0.59 g/t Pt, 0.41 g/t Au, 12.47 g/t Ag, 0.13% Ni). ...
... For the remainder of the announcement:
It has clearly broken out on the upside. The reason is simple and always leads to the end of a currency's existence: the accumulation of government debt.
A fiat currency is the politicians' licence to spend without limitation -- until suddenly they cannot. They then face a debt trap that is the public-sector equivalent of insolvency and bankruptcy, in which the higher the bond yield goes, the higher it must go again. That is where we are now. ...
... For the remainder of the commentary:
https://www.goldmoney.com/research/credit-crisis-unfolding
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2026
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
Kalshi Launches 'Perps' for Gold and Silver Following CFTC Approval, Expanding Futures Offerings
By Davis Giangiulio
CNBC, New York
Thursday, September 10, 2026
Kalshi has won approval to list perpetual futures tied to precious metals gold and silver in the U.S., in the latest development as the company seeks to grow its trading offerings beyond prediction markets.
The listing was originally filed in July. The Commodity Futures Trading Commission -- which regulates derivatives contracts -- approved the listing of the perpetuals this week.
... Dispatch continues below ...
... ADVERTISEMENT ...
Power Metallic Defines High-Grade Maiden Resource at Lion Zone Averaging 3.9% CuEq
with More Than 85% Indicated and Significant Expansion Potential
Company Announcement
Tuesday, September 8, 2026
TORONTO -- Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) announces an updated mineral resource estimate (MRE) for its Nisk Project (Power Metallic 80% / Critical Elements Lithium Corp. 20%) in the Eeyou Istchee James Bay territory of Quebec, including the inaugural mineral resource for the Lion Zone and an updated mineral resource for the Nisk Main deposit.
The MRE was prepared by SGS Canada Inc. (SGS) in accordance with National Instrument 43-101 and the CIM Definition Standards for Mineral Resources and Mineral Reserves, has an effective date of June 19, 2026, and incorporates drilling completed to April 19, 2026.
Power Metallic has declared the inaugural Mineral Resource Estimate for the Lion Zone, a high-grade, copper-dominant polymetallic deposit discovered in 2023 at the Nisk property. Over 85% of the initial Lion resource is classified as Indicated, while mineralisation remains open for expansion.
Lion contains 4,145,000 MT indicated at 3.86% CuEq (1.68% Cu, 2.61 g/t Pd, 0.85 g/t Pt, 0.49 g/t Au, 12.21 g/t Ag, 0.10% Ni), and 601,000 MT inferred at 4.01% CuEq (1.84% Cu, 2.86 g/t Pd, 0.59 g/t Pt, 0.41 g/t Au, 12.47 g/t Ag, 0.13% Ni). ...
... For the remainder of the announcement:
The new markets for the contracts launched today on the site.
Kalshi first received approval to list perpetual futures tied to cryptocurrencies in late May, bringing the novel asset class with $90 trillion in annual volume in 2025 onshore to the U.S. for the first time. Since then, the contracts have done $44 billion in notional volume, according to the platform’s website.
Udesh Jha, chief risk officer at Kalshi Klear, the exchange’s clearing house, said the company moved to have this be their next asset to offer perpetual futures for due to high interest in the commodities.
"Metals, especially gold and silver, have a story to tell because of inflation," he said. ...
... For the remainder of the report:
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2026
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By Peter Ker
Australian Financial Review, Sydney
Thursday, September 10, 2026
A Chinese state-backed resources group has cited Beijing's flagship Belt and Road infrastructure and influence initiative as the reason it is spending more than $1 billion acquiring mines and port projects across three islands in Papua New Guinea, largely from Australian companies.
... Dispatch continues below ...
... ADVERTISEMENT ...
Power Metallic Defines High-Grade Maiden Resource at Lion Zone Averaging 3.9% CuEq
with More Than 85% Indicated and Significant Expansion Potential
Company Announcement
Tuesday, September 8, 2026
TORONTO -- Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) announces an updated mineral resource estimate (MRE) for its Nisk Project (Power Metallic 80% / Critical Elements Lithium Corp. 20%) in the Eeyou Istchee James Bay territory of Quebec, including the inaugural mineral resource for the Lion Zone and an updated mineral resource for the Nisk Main deposit.
The MRE was prepared by SGS Canada Inc. (SGS) in accordance with National Instrument 43-101 and the CIM Definition Standards for Mineral Resources and Mineral Reserves, has an effective date of June 19, 2026, and incorporates drilling completed to April 19, 2026.
Power Metallic has declared the inaugural Mineral Resource Estimate for the Lion Zone, a high-grade, copper-dominant polymetallic deposit discovered in 2023 at the Nisk property. Over 85% of the initial Lion resource is classified as Indicated, while mineralisation remains open for expansion.
Lion contains 4,145,000 MT indicated at 3.86% CuEq (1.68% Cu, 2.61 g/t Pd, 0.85 g/t Pt, 0.49 g/t Au, 12.21 g/t Ag, 0.10% Ni), and 601,000 MT inferred at 4.01% CuEq (1.84% Cu, 2.86 g/t Pd, 0.59 g/t Pt, 0.41 g/t Au, 12.47 g/t Ag, 0.13% Ni). ...
... For the remainder of the announcement:
Lingbao Gold, which is listed in Hong Kong but backed by a municipal council in the Henan province, on announced today it would become the dominant player on PNG's Simberi Island after agreeing to pay ASX-listed St. Barbara $453 million for its 40% stake in the asset.
The acquisition comes after Lingbao paid $389 million for its initial 40% stake in Simberi earlier this year and means the Chinese group will take over a $US275 million ($380 million) project to expand the mine and build a wharf that can enable larger ships to dock at the island. ...
... For the remainder of the report:
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2026
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
By James Rickards
The Daily Reckoning, Baltimore
Thursday, September 10, 2026
That China has a large quantity of gold in its official reserve position is not news. China's gold reserves have been rising substantially since 2009.
At that time, Chinas official gold reserves were 1,054 metric tonnes (mt). Today those reserves stand at approximately 2,366 mt, an increase of about 124%. But that does not tell the whole story.
... Dispatch continues below ...
... ADVERTISEMENT ...
Power Metallic Defines High-Grade Maiden Resource at Lion Zone Averaging 3.9% CuEq
with More Than 85% Indicated and Significant Expansion Potential
Company Announcement
Tuesday, September 8, 2026
TORONTO -- Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) announces an updated mineral resource estimate (MRE) for its Nisk Project (Power Metallic 80% / Critical Elements Lithium Corp. 20%) in the Eeyou Istchee James Bay territory of Quebec, including the inaugural mineral resource for the Lion Zone and an updated mineral resource for the Nisk Main deposit.
The MRE was prepared by SGS Canada Inc. (SGS) in accordance with National Instrument 43-101 and the CIM Definition Standards for Mineral Resources and Mineral Reserves, has an effective date of June 19, 2026, and incorporates drilling completed to April 19, 2026.
Power Metallic has declared the inaugural Mineral Resource Estimate for the Lion Zone, a high-grade, copper-dominant polymetallic deposit discovered in 2023 at the Nisk property. Over 85% of the initial Lion resource is classified as Indicated, while mineralisation remains open for expansion.
Lion contains 4,145,000 MT indicated at 3.86% CuEq (1.68% Cu, 2.61 g/t Pd, 0.85 g/t Pt, 0.49 g/t Au, 12.21 g/t Ag, 0.10% Ni), and 601,000 MT inferred at 4.01% CuEq (1.84% Cu, 2.86 g/t Pd, 0.59 g/t Pt, 0.41 g/t Au, 12.47 g/t Ag, 0.13% Ni). ...
... For the remainder of the announcement:
The official reserves are reported by the People’s Bank of China (PBOC), the Chinese central bank. But China may also hold gold through other state entities, including the State Administration of Foreign Exchange (SAFE). China is non-transparent about the full extent of its gold holdings. The exact amount of any unreported gold is unknown. Estimates can be formed based on imports from Switzerland via Hong Kong, but those are inexact.
One estimate is that the amount of "hidden gold" held by Chinese state entities is approximately the same as the amount reported publicly by the PBOC. If that estimate is correct, total Chinese gold reserves would be about 4,700 mt, or roughly 58% of U.S. gold reserves of 8,133 mt. ...
... For the remainder of the commentary:
https://dailyreckoning.com/beijing-preps-for-currency-wars/
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2026
https://neworleansconference.com/gata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
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:
Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
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