Thursday, July 19, 2001 Dear Friend of GATA and Gold: If you would like America to know the real gold story, please contact Bill O'Reilly at [EMAIL PROTECTED] GATA has just distributed around the United States the press release attached here. BILL MURPHY, Chairman Gold Anti-Trust Action Committee Inc. * * * GATA Challenges "O'Reilly Factor" Regarding Treasury's Refusal to Answer Gold Questions Business Editors DALLAS (BUSINESS WIRE), July 19, 2001 -- The Gold Anti-Trust Action Committee, based in Dallas, has issued a challenge to Bill O'Reilly, the host of the FOX News top-rated cable news show, The O'Reilly Factor. O'Reilly, who professes that he will take on any controversial issue, has ducked the Gold Anti-Trust Action Committee's allegations of the manipulation of the gold market by a cartel of bullion banks and a faction of the U.S. Government. A lawsuit raising GATA's charges has been filed in U.S. District Court in Boston by GATA consultant Reginald H. Howe against the Bank for International Settlements; Federal Reserve Board Chairman Alan Greenspan; William J. McDonough, president of the Federal Reserve Bank of New York; bullion banks J. P. Morgan & Co., Chase Manhattan Corp., Citigroup Inc., Goldman Sachs Group Inc., and Deutsche Bank; and Lawrence H. Summers, former secretary of the treasury, who by law exercised control of the U.S. Exchange Stabilization Fund, subject only to approval by the president of the United States. GATA Chairman Bill Murphy says: "Bill O'Reilly says he will take on any issue, but he seems afraid to take on the big money interests in America, just like everyone else. GATA supporters have been sending him emails, letters, and faxes for more than two years, and he has not responded to one of them." Recently GATA uncovered the most disturbing evidence yet of manipulation of the gold market. In its response to the Howe lawsuit, the Treasury Department denied any involvement in the gold market since 1978. Yet recently released minutes of the January 31, 1995, meeting of the Federal Reserves Federal Open Market Committee, over which Alan Greenspan presided, quoted the Fed's chief counsel, Virgil Mattingly, as referring to "gold swaps" undertaken by the Exchange Stabilization Fund. U.S. Reps. Ron Paul, R-Texas, and John B. Larson, D-Conn., and Sens. Joseph I. Lieberman, D-Conn., and Wayne Allard, R-Colo., among many other members of Congress, have asked Treasury Secretary Paul O'Neill for clarification of this discrepancy. But O'Neill, like former Treasury Secretary Summers, has refused to answer Congress on the gold manipulation issue. The people of the United States have entrusted some 261.5 million ounces of their national gold to be held in trust by the Treasury Department, and its disposition is to be determined by Congress. The status of these assets is reported monthly at the Internet site of the Treasury Department's Financial Management Service: http://www.fms.treas.gov/gold/index.html. In August 2000, 3,400 tonnes of this gold at the U.S. Mint at West Point, N.Y., was classified as Gold Bullion Reserve. In September 2000, 1,700 tonnes of this gold was reclassified without explanation as Custodial Gold Bullion. In May 2001, all 3,400 tonnes were mysteriously reclassified, this time as Deep Storage Gold, again without explanation. It is unclear whether this gold is still owned by the U.S. government or whether its ownership has passed to other parties without congressional authorization. The Gold Anti-Trust Action Committee fears that something is amiss with America's gold! GATA suggests that the Gold Cartel is suppressing the price of gold to conceal problems with the U.S. economy, thereby taking away a warning system of many Americans about making prudent decisions regarding stock market investments! GATA feels strongly that every U.S. citizen should be aware of what has happened. GATA also believes that the O'Reilly program's reporting of the evidence of manipulation of the gold market will attract a large audience. GATA, a federally tax-exempt civil rights and educational corporation, is so confident of its evidence that it will donate $5,000 to the charity of O'Reilly's choice if it is shown to be substantially wrong. But if the O'Reilly program's reporting of GATA's complaint does attract a large audience, GATA will request O'Reilly put to Treasury Secretary O'Neill the questions members of Congress have already queried of him. CONTACT: Gold Anti-Trust Action Committee, Dallas Bill Murphy, 214/522-3411 [EMAIL PROTECTED] -END- ------------------------ Yahoo! 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