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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

Dec 13, 2018

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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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

Dec 13, 2018

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...

* * *

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

Dec 13, 2018

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:

http://www.gata.org

To contribute to GATA, please visit:

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

Dec 13, 2018

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 ...



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GATA's letters are posted here:

http://gata.org/node/18405

http://gata.org/node/18512

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:

http://www.gata.org

To contribute to GATA, please visit:

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

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CFTCReply-12-12-2018.pdf48.36 KB

Dec 13, 2018

... 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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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...

* * *

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

Dec 12, 2018

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-...



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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:

http://www.gata.org

To contribute to GATA, please visit:

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

Dec 12, 2018

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]



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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:

http://www.gata.org

To contribute to GATA, please visit:

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

Dec 11, 2018

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:

http://www.gata.org

To contribute to GATA, please visit:

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