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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

Jan 17, 2017

7:58p ET Monday, January 16, 2017

Dear Friend of GATA and Gold:

Noting the continuing decline in the international reserves of central banks, Hugo Salinas Price, president of the Mexican Civic Association for Silver, writes today that credit contraction is likely to follow, along with deflation, unemployment, currency devaluation, and political instability. His analysis is headlined "The Further Decline in International Reserves" and it's posted at the association internet site, Plata.com.mx, here:

http://www.plata.com.mx/Mplata/articulos/articlesFilt.asp?fiidarticulo=3...

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



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Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22 and 23, 2017
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://www.mininginvestmentasia.com/

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.minesandmoney.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:

http://www.gata.org

To contribute to GATA, please visit:

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

Jan 15, 2017

4:27p ET Sunday, January 15, 2017

Dear Friend of GATA and Gold:

Interviewed by King World News, Swiss gold fund manager Egon von Greyerz says gold long has been outperforming stock markets around the world even as those markets are in bubble territory:

http://kingworldnews.com/the-greatest-secret-of-this-century-and-why-gol...

And London metals trader Andrew Maguire says the U.S. government has been using psychological war operations to control markets but that gold is beginning to overcome them:

http://kingworldnews.com/whistleblower-andrew-maguire-us-government-usin...

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



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Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22 and 23, 2017
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://www.mininginvestmentasia.com/

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.minesandmoney.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:

http://www.gata.org

To contribute to GATA, please visit:

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

Jan 15, 2017

10:39a Sunday, January 15, 2017

Dear Friend of GATA and Gold:

Your secretary/treasurer will speak at the end of March at the Mining Investment Asia conference in Singapore and at the beginning of April at the Mines and Money Asia conference in Hong Kong, Asia being more sympathetic to gold's monetary functions than North America is.

The Mining Investment Asia conference will be held from Tuesday-Friday, March 28-31, at the Marina Bay Sands conference center in downtown Singapore. Information about the conference and registration is posted here:

http://www.mininginvestmentasia.com/

The Mines and Money Asia conference will be held Wednesday-Friday, April 5-7, 2017, at the Hong Kong Convention and Exhibition Centre in the Wan Chai section of the city. Participants in the conference can obtain discount lodging rates at the two adjacent hotels, the Grand Hyatt and Renaissance Harbour View. Information about the conference and registration is posted here:

http://asia.minesandmoney.com/

Of course both cities are spectacular and, being former British colonies, are easily navigable for those who speak only English. So your secretary/treasurer would be delighted to see some of GATA's friends there.

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



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Market Analyst Fabrice Taylor Expects K92 Shares to Rise
as Company Commences Gold Production and Gains Cash Flow

Interviewed on Business News Network in Canada, market analyst and financial letter writer Fabrice Taylor said shares of K92 Mining (TSXV:KNT) are likely to rise, even amid declining gold prices, because the company has begun producing gold at its mine in Papua New Guinea:

http://www.bnn.ca/video/fabrice-taylor-discusses-k92-mining~1008356

Taylor cited the company's announcement here:

http://www.k92mining.com/2016/11/6114/



Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22 and 23, 2017
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://www.mininginvestmentasia.com/

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.minesandmoney.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:

http://www.gata.org

To contribute to GATA, please visit:

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

Jan 14, 2017

And she's as beautiful as can be.

* * *

By Erin McCann
The New York Times
Friday, January 13, 2017

The United States Mint will release in April a commemorative gold coin that will feature Lady Liberty as a black woman, marking the first time that she has been depicted as anything other than white on the nation’s currency.

The coin, with a $100 face value, will commemorate the 225th anniversary of the Mint's coin production, the Mint and the Treasury Department announced on Thursday. Going on sale April 6, it will be 24-karat and weigh about an ounce.

It is part of a series of commemorative coins that will be released every two years. Future ones will show Lady Liberty as Asian, Hispanic, and Indian "to reflect the cultural and ethnic diversity of the United States," the Mint said in a statement. ...

... For the remainder of the report:

https://www.nytimes.com/2017/01/13/us/black-lady-liberty-us-coin.html



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Sandspring Resources Commences 2016 Exploration Campaign

Company Announcement
August 17, 2016

Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.

In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.

For the remainder of the announcement and highlights of the 2015 drill program:

https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...



Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22 and 23, 2017
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://www.mininginvestmentasia.com/

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.minesandmoney.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:

http://www.gata.org

To contribute to GATA, please visit:

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

Jan 13, 2017

Deutsche Bank Is Banning Text Messages on Company-Issued Phones

By Steve Arons and Ambereen Choudury
Bloomberg News
Friday, January 13, 2017

Deutsche Bank has banned text messages on company-issued phones in an effort to improve compliance standards.

The functionality will be switched off this quarter, chief regulatory officer Sylvie Matherat and chief operating officer Kim Hammonds told staff in a memo today, according to a person with knowledge of the matter. Unlike e-mails, text messages can't be archived by the bank, said the person, who asked not to be identified discussing internal matters.

Deutsche Bank is working to improve compliance and clean up a reputation dented by a series of probes into its role in the sale of toxic debt, manipulation of interest-rate benchmarks and failure to prevent possible money laundering in Russia. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-01-13/deutsche-bank-is-bann...



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Canadian Government Issues Key Water License
for Seabridge Gold's KSM Project in British Columbia

Company Announcement
Monday, November 21, 2016

TORONTO -- Seabridge Gold Inc. (TSX: SEA) (NYSE:SA) announced today it has received a license from the Government of Canada required for the construction, operation, and maintenance of the water storage facility and associated ancillary water works at its 100 percent-owned KSM Project in northwestern British Columbia.

The license, as authorized within the International Rivers Improvement Act, regulates all structures and activities situated on transboundary waters shared with the United States that have the potential to affect water quality and quantity. The Water storage facility and its ancillary water works (water diversion ditches and tunnels) are the primary water management control systems for the KSM Project. These facilities separate water that has not contacted mined material from so-called contact water originating from disturbed areas of the mine site and then contain the contact water prior to treatment and eventual release to the receiving environment.

These facilities are situated on Mitchell and Sulphurets creeks, tributaries of the transboundary Unuk River system that flows into Alaska. The license was granted for a term of 25 years under the International Rivers Improvements Regulations as administered by Environment and Climate Change Canada. ...

... For the remainder of the announcement:

http://seabridgegold.net/News/Article/642/federal-government-issues-key-...

* * *

Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22 and 23, 2017
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://www.mininginvestmentasia.com/

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.minesandmoney.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:

http://www.gata.org

To contribute to GATA, please visit:

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

Jan 12, 2017

12:34p ET Thursday, January 12, 2017

Dear Friend of GATA and Gold:

In his market letter this month. Tocqueville Gold Fund manager John Hathaway says the physical gold market will defeat the paper gold market someday, leading to a much higher price for the monetary metal.

Can the gold investment industry do anything to hasten the day, or should the industry remain content to collect fees and commissions all the way to the supposed inevitability, even though by then most of its investors may be dead?

Hathaway offers no suggestions but does seem content. His letter is posted at the Tocqueville internet site here:

http://tocqueville.com/insights/gold-strategy-investor-letter-4Q16

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



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* * *

Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22 and 23, 2017
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://www.mininginvestmentasia.com/

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.minesandmoney.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:

http://www.gata.org

To contribute to GATA, please visit:

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

Jan 12, 2017

By Robert Lambourne
Thursday, January 12, 2017

Disclosures in the monthly statements of account published by the Bank for International Settlements since March 2016 indicate that in the last nine months of 2016 the bank increased substantially its use of gold swaps.

There is not enough information in the monthly reports to calculate the exact amount of swaps, but based on the information in the BIS' December 2016 statement of account, the bank's gold swaps likely stood in excess of 480 tonnes as of the end of the calendar year.

This is the BIS' highest level of gold swaps recorded in recent times.

The BIS' annual report for its financial year ended March 31, 2010, disclosed that 346 tonnes of gold were acquired through gold swaps from commercial bullion banks. A review of the previous use of gold derivatives by the BIS reveals that the transactions in 2009-10 were far more substantial than anything done by the bank in the years immediately leading up to that.

... Dispatch continues below ...



ADVERTISEMENT

Market Analyst Fabrice Taylor Expects K92 Shares to Rise
as Company Commences Gold Production and Gains Cash Flow

Interviewed on Business News Network in Canada, market analyst and financial letter writer Fabrice Taylor said shares of K92 Mining (TSXV:KNT) are likely to rise, even amid declining gold prices, because the company has begun producing gold at its mine in Papua New Guinea:

http://www.bnn.ca/video/fabrice-taylor-discusses-k92-mining~1008356

Taylor cited the company's announcement here:

http://www.k92mining.com/2016/11/6114/



The use of gold swaps by the BIS increased in the financial year ended March 31, 2011, with 409 tonnes of gold swaps reported. As this chart will show, that was the peak amount reported by the bank prior to this year:

March 2011: 409 tonnes.
March 2012: 355 tonnes.
March 2013: 404 tonnes.
March 2014: 236 tonnes.
March 2015: 47 tonnes.
March 2016: 0 tonnes.

As the table shows, the use of gold swaps by the BIS fell considerably up to March 2016, when the use of swaps appeared to have stopped.

The BIS offers no explanation for its renewed use of gold swaps in its interim financial statements for the 2016-17 financial year, which were published on November 7, 2016. By contrast, back in 2010 the BIS discussed its gold swaps with the Financial Times in an article published on July 29 that year. BIS General Manager Jaime Caruana said the gold swaps were "regular commercial activities" for the bank:

http://www.ft.com/cms/s/0/3e659ed0-9b39-11df-baaf-00144feab49a.html

Here are excerpts from the article:

"Some analysts speculated that the swap deals were a surreptitious bailout of the European banking system ahead of last week's publication of stress tests. But bankers and officials have described the transactions as 'mutually beneficial.' ...

"'The client approached us with the idea of buying some gold with the option to sell it back,' said one European banker, referring to the BIS.

"Another banker said: 'From time to time central banks or the BIS want to optimize the return on their currency holdings.'"

It is notable that none of these comments in the FT article focused on the gold market itself but implicitly accepted that gold was being used as collateral to support dollar loans to commercial banks.

An alternative explanation -- that the swap transactions were initiated by the BIS to place more unallocated gold in the hands of certain central banks -- seemed plausible, since the gold market was tight at the time.

Perhaps not conicidentally, the BIS has renewed its use of gold swaps just when many commentators consider gold market conditions to be tight again, as they were in 2010 and 2011.

----

Robert Lambourne is a business executive in the United Kingdom and a GATA consultant.

* * *

Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22 and 23, 2017
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://www.mininginvestmentasia.com/

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.minesandmoney.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:

http://www.gata.org

To contribute to GATA, please visit:

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

Jan 11, 2017

8:38p ET Tuesday, January 10, 2017

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy will speak at The Dollar Vigilante's second annual internationalization and investment summit in sunny Acapulco, Mexico, on Friday, February 24, a day ahead of the four-day "anarcho-capitalist" Anarchapulco conference there.

Also speaking at the Dollar Vigilante conference will be the financial letter's co-founders, Jeff Berwick and Ed Bugos; David Morgan of The Morgan Report and Silver-Investor.com; Bix Weir of the Road to Roota letter; and mining industry broker Ben Johnson.

... Dispatch continues below ...



ADVERTISEMENT

Sandspring Resources Commences 2016 Exploration Campaign

Company Announcement
August 17, 2016

Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.

In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.

For the remainder of the announcement and highlights of the 2015 drill program:

https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...



Speakers at the Anarchapulco conference will include G. Edward Griffin, author of the classic polemical history of the Federal Reserve System, "The Creature from Jekyll Island"; bitcoin proponent Trace Mayer; and a dozen even freer spirits.

Topics at the conferences will include:

-- The world's economic and financial outlook.

-- Monetary metals investing and strategies.

-- Investing in gold and silver mining stocks.

-- Cryptocurrency storage, trading, and investing.

-- Austrian School economics.

-- "Perpetual traveler/prior taxpayer" theory.

-- Expatriation and international opportunities.

The conferences will be held at the conference center at the spectacular Resort Mundo Imperial.

Admission to the TDV conference alone costs $395 and you'll get a $10 discount if you use "GATA" as a coupon code.

Admission to the Anarchapulco conference costs $245 for the first 300 registrants. A student discount is available.

To learn more about the conferences and hotel options as well as to register, please visit:

http://tdvinvestmentsummit.com

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

* * *

Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22 and 23, 2017
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.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:

http://www.gata.org

To contribute to GATA, please visit:

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