Saturday, March 27, 2010

CFTC Whistleblower Injured in London Hit-and-Run

"Dear Friend of GATA and Gold:

London metals trader Andrew Maguire, who warned an investigator for the U.S. Commodity Futures Trading Commission in advance about a gold and silver market manipulation to be undertaken by traders for JPMorgan Chase in February and whose whistleblowing was publicized by GATA at Thursday's CFTC hearing on metals futures trading --

-- was injured along with his wife the next day when their car was struck by a hit-and-run driver in the London area.

According to GATA's contact with Maguire, board member Adrian Douglas, Maguire and his wife were admitted to a hospital overnight and released today and are expected to recover fully.

Maguire told Douglas by telephone today that his car was struck by a car careening out of a side road. When a pedestrian who witnessed the crash tried to block the other driver's escape, the other driver accelerated at the pedestrian, causing him to jump out of the way to avoid being hit. The other driver's car then struck two other cars in escaping. But the other driver was caught by police after a chase in which police helicopters were summoned.

We'll convey more information about the incident as it becomes available."

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Greece Bailout Bullish for Gold

"Brian Hicks is the co-manager of the U.S. Global Investors Global Resources Fund, says euro instability will continue to spook investors and support higher gold prices."

Monday, March 15, 2010

Gold's Tug of War

"James Turk, founder of GoldMoney, argues that despite some short term downside, gold prices will still hit $8,000 an ounce."

Thursday, March 11, 2010

Hyperinflation has Already Occurred

"Few understand that hyperinflation has already occurred in the bailouts and gifts to the financial industry, and the result of this hyperinflation are coming towards us like a freight train."

- Jim Sinclair,

Wednesday, March 10, 2010

What is Inflation?

"Inflation is when you go to the same restaurant each morning, order the same breakfast, and each time have to ask how much it costs."

- Brazilian businessman

Friday, March 5, 2010

When is it a Depression?

" Its a recession if your neighbor loses his job, its a depression if you lose yours."

Thursday, March 4, 2010

Greece is Broke, Period.

"What the market is saying is that Greece was within days of running out of money and a small rescue by some central bank, not necessarily the ECB, offered a SMALL bailout to keep Greece funded for a very short period of time to prevent bankruptcy next week. If you issue IOUs or can’t pay your bills you are broke, period."

- Jim Sinclair

Monday, March 1, 2010

The Bank Never Goes Broker

"The Bank never goes broke. If the Bank runs out of money, it may issue as much more as may be needed by merely writing on any ordinary piece of paper."

- Rule from the game of Monopoly