On The Imminent Collapse Of The Fractional-Reserve Gold Banking System

by Chris Powell of the Gold Anti-Trust Action Committee (GATA)

Dear Friend of GATA and Gold:

The imminent collapse of the fractional-reserve gold banking system is the primary topic of a discussion between London metals trader and Kinesis Money founder Andrew Maguire and GATA consultant Harvey Organ, a student of the gold and silver markets for 50 years.

They review:

— Organ’s lifelong interest in the monetary metals.

— His association with U.S. Commodity Futures Trading Commission member Bart Chilton.

— His testimony to the commission’s 2010 hearing on gold and silver futures at which it was revealed that trading leverage approaches a ratio of 100 to 1.

— The mishandling of the gold and silver he was vaulting at Scotiabank in Toronto and his struggle to recover it.

— The unreliability of the exchange-traded silver fund SLV.

— The big recent changes in the gold and silver market, including the sudden transformation of the New York Commodities Exchange — the Comex — from a derivatives market to a physical market.

— What appears to have become a run on Comex gold and silver.

— And Organ’s expectation that only physical gold and silver markets will survive in the future.

The interview is nearly an hour long and can be viewed at You Tube here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA’s recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here’s what the bottles look like:

www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

www.gata.org/files/FayJWineryVarietals.jpg

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

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 —

www.amazon.com/Rigged-Exposing-Largest-Financial-History/dp/1651…

— or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

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:

www.gata.org

To contribute to GATA, please visit:

www.gata.org/node/16