10/21 Gold Anti-Trust Action Committee - Exposing the long-term manipulation of the gold market

Gold Anti-Trust Action Committee - Exposing the long-term manipulation of the gold market         Mortgage documentation fraud heralds another bank bailout, Rickards tells King World News October 20, 2010 at 8:32 AM   9:30a ET Wednesday, October 20, 2010 Dear Friend of GATA and Gold: Market analyst Jim Rickards today tells King World News that the mortgage documentation scandal is likely to require another monster bailout for the large banks that engaged in mortgage securitization and that now may be found financially liable to investors. The interview is nine minutes long and you can find it at King World News here: http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/10/20_Jim_... Or try this abbreviated link: http://bit.ly/bya3aJ CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ADVERTISEMENT Prophecy Resource Goes Into Production at Ulaan Ovoo Coal Mine in Mongolia A commission appointed by Mongolia's Ministry of Mineral Resources and Energy has conducted the final permit inspection at Prophecy Resource Corp.'s Ulaan Ovoo mine site and has instructed the company to begin coal production. Prophecy Resource (TSX.V: PCY) has begun production of its first 10,000 tonnes of coal as a trial run of supply to be taken by rail to electric power stations in Darkhan and Erdenet, Mongolia's second and third largest cities after the capital, Ulaanbaatar. The company is the second-ever Canadian mining company to get a permit to mine in Mongolia and start production there. For the company's complete announcement, please visit: http://www.prophecyresource.com/news_2010_oct14.php Join GATA here: The Silver Summit Thursday-Friday, October 21-22, 2010 Davenport Hotel, Spokane, Washington http://www.silversummit.com/ New Orleans Investment Conference Wednesday-Saturday, October 27-30, 2010 Hilton New Orleans Riverside Hotel http://www.neworleansconference.com/redirect.php?page=index.html&source_... A * * * Support GATA by purchasing a colorful GATA T-shirt: http://gata.org/tshirts Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: http://www.goldrush21.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 ADVERTISEMENT Sona Resources Expects Positive Cash Flow from Blackdome, Plans Aggressive Exploration of Elizabeth Gold Property On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia. Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013." For complete information on Sona Resources Corp. please visit: www.SonaResources.com A Canadian gold opportunity ready for growth         Financial system's mountain of crap hasn't disappeared, Sinclair tells King World News October 19, 2010 at 10:01 PM   11p ET Tuesday, October 19, 2010 Dear Friend of GATA and Gold: King World News has posted excerpts of a conversation today between Eric King and gold trader and mining entrepreneur Jim Sinclair, who says today's fall in the precious metals means nothing amid the big picture, which includes "a $2 trillion mountain of crap called securitized debt." The conversation is headlined "Jim Sinclair -- Brief Period of Victory for Bubble Callers" and you can find it at King World News here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/10/19_J... Or try this abbreviated link: http://bit.ly/9OyPIA CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ADVERTISEMENT Sona Resources Expects Positive Cash Flow from Blackdome, Plans Aggressive Exploration of Elizabeth Gold Property On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia. Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013." For complete information on Sona Resources Corp. please visit: www.SonaResources.com A Canadian gold opportunity ready for growth Join GATA here: The Silver Summit Thursday-Friday, October 21-22, 2010 Davenport Hotel, Spokane, Washington http://www.silversummit.com/ New Orleans Investment Conference Wednesday-Saturday, October 27-30, 2010 Hilton New Orleans Riverside Hotel http://www.neworleansconference.com/redirect.php?page=index.html&source_... * * * Support GATA by purchasing a colorful GATA T-shirt: http://gata.org/tshirts Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: http://www.goldrush21.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 ADVERTISEMENT Prophecy Resource Goes Into Production at Ulaan Ovoo Coal Mine in Mongolia A commission appointed by Mongolia's Ministry of Mineral Resources and Energy has conducted the final permit inspection at Prophecy Resource Corp.'s Ulaan Ovoo mine site and has instructed the company to begin coal production. Prophecy Resource (TSX.V: PCY) has begun production of its first 10,000 tonnes of coal as a trial run of supply to be taken by rail to electric power stations in Darkhan and Erdenet, Mongolia's second and third largest cities after the capital, Ulaanbaatar. The company is the second-ever Canadian mining company to get a permit to mine in Mongolia and start production there. For the company's complete announcement, please visit: http://www.prophecyresource.com/news_2010_oct14.php             This email was sent to mangosofia.1vitalassets@blogger.com. Delivered by Feed My Inbox 230 Franklin Road Suite 814 Franklin, TN 37064 Create Account Unsubscribe Here

10/20 Gold Anti-Trust Action Committee - Exposing the long-term manipulation of the gold market

Gold Anti-Trust Action Committee - Exposing the long-term manipulation of the gold market         Lacking trading data, CFTC may delay commodity position limits October 19, 2010 at 4:36 PM   By Roberta Rampton and Christopher Doering Reuters Tuesday, October 19, 2010 http://www.reuters.com/article/idUSN1933466320101019 WASHINGTON -- Clearinghouses, their members, and swap dealers will have to report large swaps positions in 46 commodities to the U.S. futures regulator daily starting in six to 10 months in a plan unveiled on Tuesday. The Commodity Futures Trading Commission said about 180 trading firms and swap dealers and five clearinghouses likely will need to report positions, an effort to help the agency police position limits for speculative trades as part of the sweeping new Wall Street reform law. The CFTC has intensified its focus on trading activity of banks and funds in commodity markets since 2008, when prices spiked to record levels in oil, wheat, and many other markets, prompting demands from consumers and lawmakers to crack down. The proposed plan, which builds on CFTC's monthly "special call" report by expanding the number of firms that must report as well as increasing the frequency to daily, is a key piece of the CFTC approach to position limits, a separate proposal that will be unveiled in the next month. This proposal sets the bar for mandatory daily reporting high enough to exclude most end-users, an official said, and applies only to "economically equivalent" swaps that are either based on a futures price or mirror a futures contract. ... Dispatch continues below ... ADVERTISEMENT Prophecy Resource Goes Into Production at Ulaan Ovoo Coal Mine in Mongolia A commission appointed by Mongolia's Ministry of Mineral Resources and Energy has conducted the final permit inspection at Prophecy Resource Corp.'s Ulaan Ovoo mine site and has instructed the company to begin coal production. Prophecy Resource (TSX.V: PCY) has begun production of its first 10,000 tonnes of coal as a trial run of supply to be taken by rail to electric power stations in Darkhan and Erdenet, Mongolia's second and third largest cities after the capital, Ulaanbaatar. The company is the second-ever Canadian mining company to get a permit to mine in Mongolia and start production there. For the company's complete announcement, please visit: http://www.prophecyresource.com/news_2010_oct14.php The new Dodd-Frank financial reforms require the CFTC to set position limits for commodity futures and swaps. Energy and metals limits face a mid-January deadline and agricultural market limits must be finalized in April. That timetable puts the CFTC in the awkward position of having to establish the curbs before having complete data for bilateral and over-the-counter swaps. "The primary source could be, in the future, swap data repositories, but those are not operational yet," an agency official said in a background briefing. While the new report will help the CFTC enforce and reset limits, it won't be ready in time for the agency to set its initial limits, the official said. Commissioner Scott O'Malia said he is concerned that the new report will not provide a good enough base for the upcoming position limit rule, and suggested that the CFTC should delay its implementation. "I would prefer the commission take a ready, aim, fire approach to position limits, rather than to shoot first and ask questions later," O'Malia said. The CFTC's five commissioners, including Chairman Gary Gensler, will vote on Tuesday whether to advance the proposed regulation to the next stage -- a public comment period lasting at least 30 days but possibly as long as two months. After staff consider changes, the commissioners will vote again to finalize the plan. The Dodd-Frank law gives the CFTC oversight of the $615 trillion over-the-counter derivatives market. The bilateral contracts will now have to be reported, and most will have to trade and clear to increase transparency and diffuse risk. The CFTC has said it plans to unveil the first draft of all its proposed regulations to implement the law by the end of the year so that it can meet deadlines to finalize them by July. On Tuesday, the CFTC also proposed a formal definition for "agricultural commodity," and two regulations dealing with protecting consumer financial information. Next Tuesday, CFTC commissioners will meet to vote on six other rules, including regulations to prevent manipulation and disruptive trading practices, and the process for reviewing swaps for clearing, Gensler said. Since June 2008, the CFTC has collected detailed information on swaps positions held by the largest financial traders each month through a "special call." Under the new rule, clearinghouses and dealers will have to report positions of 50 or more "economically equivalent" swaps (on a futures-equivalent basis) in any one month. A swap is deemed "economically equivalent" if the floating price refers to a futures contract settlement price or if it is a "lookalike" contract to a commodity futures. The new report will mirror the CFTC's large trader reporting system for futures markets, and the threshold will be high enough to exclude most commercial end-users who use swaps to hedge their risk buying and selling physical commodities, an official said. "A position of 50 futures-equivalent contracts seemed like a reasonable way to get visibility on the market. Then, as time goes by, the commission might consider whether a higher level or a lower level is appropriate," the official said. * * * Join GATA here: The Silver Summit Thursday-Friday, October 21-22, 2010 Davenport Hotel, Spokane, Washington http://www.silversummit.com/ New Orleans Investment Conference Wednesday-Saturday, October 27-30, 2010 Hilton New Orleans Riverside Hotel http://www.neworleansconference.com/redirect.php?page=index.html&source_... A * * * Support GATA by purchasing a colorful GATA T-shirt: http://gata.org/tshirts Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: http://www.goldrush21.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 ADVERTISEMENT Sona Resources Expects Positive Cash Flow from Blackdome, Plans Aggressive Exploration of Elizabeth Gold Property On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia. Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013." For complete information on Sona Resources Corp. please visit: www.SonaResources.com A Canadian gold opportunity ready for growth         J.S. Kim: Banks are rigging all commodity markets along with gold October 19, 2010 at 4:21 PM   5:19p ET Tuesday, October 19, 2010 Dear Friend of GATA and Gold: J.S. Kim, managing director of SmartKnowledgeU, a financial research and consulting firm, and editor of The Underground Investor Internet site has written a wonderful essay concluding that all world commodity markets are manipulated by investment banks and governments and none of those markets is free. Kim writes of gold particularly: "When I started discussing enormous fraud in the pricing behavior of gold markets six years ago, people regularly ridiculed me for my beliefs, especially whenever I publicly blogged about my beliefs. Back then my beliefs were grounded in my own research as well as the very substantial mountain of evidence provided by GATA that had not yet made its way into the general consciousness of the mainstream public. Today public beliefs about gold price suppression schemes have evolved 180 degrees. Now deniers of gold price suppression schemes, not I, are the ones viewed as naive. I believe the same realizations will eventually happen with all commodities, not just gold." Kim is not alone in his conclusion. In his 2001 essay, "The Debasement of World Currency: It Is inflation, But Not as We Know It," the British economist Peter Warburton described the commodity market price suppression achieved by the explosion of derivative products: http://www.gata.org/node/8303 Kim's essay is titled "Inside the Illusory Empire of the Banking Commodity Con Game" and you can find it at The Underground Investor here: http://www.theundergroundinvestor.com/2010/10/inside-the-illusory-empire... Or try this abbreviated link: http://tinyurl.com/27wj5tr CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ADVERTISEMENT Sona Resources Expects Positive Cash Flow from Blackdome, Plans Aggressive Exploration of Elizabeth Gold Property On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia. Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013." For complete information on Sona Resources Corp. please visit: www.SonaResources.com A Canadian gold opportunity ready for growth Join GATA here: The Silver Summit Thursday-Friday, October 21-22, 2010 Davenport Hotel, Spokane, Washington http://www.silversummit.com/ New Orleans Investment Conference Wednesday-Saturday, October 27-30, 2010 Hilton New Orleans Riverside Hotel http://www.neworleansconference.com/redirect.php?page=index.html&source_... * * * Support GATA by purchasing a colorful GATA T-shirt: http://gata.org/tshirts Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: http://www.goldrush21.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 ADVERTISEMENT Prophecy Resource Goes Into Production at Ulaan Ovoo Coal Mine in Mongolia A commission appointed by Mongolia's Ministry of Mineral Resources and Energy has conducted the final permit inspection at Prophecy Resource Corp.'s Ulaan Ovoo mine site and has instructed the company to begin coal production. Prophecy Resource (TSX.V: PCY) has begun production of its first 10,000 tonnes of coal as a trial run of supply to be taken by rail to electric power stations in Darkhan and Erdenet, Mongolia's second and third largest cities after the capital, Ulaanbaatar. The company is the second-ever Canadian mining company to get a permit to mine in Mongolia and start production there. For the company's complete announcement, please visit: http://www.prophecyresource.com/news_2010_oct14.php             This email was sent to mangosofia.1vitalassets@blogger.com. Delivered by Feed My Inbox 230 Franklin Road Suite 814 Franklin, TN 37064 Create Account Unsubscribe Here

10/19 Gold Anti-Trust Action Committee - Exposing the long-term manipulation of the gold market

Gold Anti-Trust Action Committee - Exposing the long-term manipulation of the gold market         Eric Sprott interviewed on gold and QE2 October 18, 2010 at 8:46 PM   9:43p ET Monday, October 18, 2010 Dear Friend of GATA and Gold: Financial journalist Ron Hera has gotten an interview with Sprott Asset Management Chairman and CEO Eric Sprott that covers gold market manipulation as well as the declining usefulness of government "stimulus" programs. The interview is headlined "Eric Sprott on Gold and QE2" and you can find it at GoldSeek here: http://news.goldseek.com/GoldSeek/1287410400.php And at 321Gold here: http://www.321gold.com/editorials/hera/hera101810.html CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ADVERTISEMENT Prophecy Resource Goes Into Production at Ulaan Ovoo Coal Mine in Mongolia A commission appointed by Mongolia's Ministry of Mineral Resources and Energy has conducted the final permit inspection at Prophecy Resource Corp.'s Ulaan Ovoo mine site and has instructed the company to begin coal production. Prophecy Resource (TSX.V: PCY) has begun production of its first 10,000 tonnes of coal as a trial run of supply to be taken by rail to electric power stations in Darkhan and Erdenet, Mongolia's second and third largest cities after the capital, Ulaanbaatar. The company is the second-ever Canadian mining company to get a permit to mine in Mongolia and start production there. For the company's complete announcement, please visit: http://www.prophecyresource.com/news_2010_oct14.php Join GATA here: The Silver Summit Thursday-Friday, October 21-22, 2010 Davenport Hotel, Spokane, Washington http://www.silversummit.com/ New Orleans Investment Conference Wednesday-Saturday, October 27-30, 2010 Hilton New Orleans Riverside Hotel http://www.neworleansconference.com/redirect.php?page=index.html&source_... A * * * Support GATA by purchasing a colorful GATA T-shirt: http://gata.org/tshirts Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: http://www.goldrush21.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 ADVERTISEMENT Sona Resources Expects Positive Cash Flow from Blackdome, Plans Aggressive Exploration of Elizabeth Gold Property On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia. Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013." For complete information on Sona Resources Corp. please visit: www.SonaResources.com A Canadian gold opportunity ready for growth         China propels gold and should keep at it, Lassonde tells King World News October 18, 2010 at 8:01 PM   9p ET Monday, October 18, 2010 Dear Friend of GATA and Gold: Eric King of King World News today interviewed mining entrepreneur Pierre Lassonde, who, in excerpts posted at the Internet site, reported enormous physical gold demand from China. Lassonde added that China's central bank needs a lot more gold to diversify its foreign exchange reserves. King's interview with Lassonde is headlined "Pierre Lassonde -- Strong Forces Propelling Gold" and you can find it at King World News here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/10/18_P... Or try this abbreviated link: http://bit.ly/aUULlz CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ADVERTISEMENT Sona Resources Expects Positive Cash Flow from Blackdome, Plans Aggressive Exploration of Elizabeth Gold Property On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia. Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013." For complete information on Sona Resources Corp. please visit: www.SonaResources.com A Canadian gold opportunity ready for growth Join GATA here: The Silver Summit Thursday-Friday, October 21-22, 2010 Davenport Hotel, Spokane, Washington http://www.silversummit.com/ New Orleans Investment Conference Wednesday-Saturday, October 27-30, 2010 Hilton New Orleans Riverside Hotel http://www.neworleansconference.com/redirect.php?page=index.html&source_... * * * Support GATA by purchasing a colorful GATA T-shirt: http://gata.org/tshirts Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: http://www.goldrush21.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 ADVERTISEMENT Prophecy Resource Goes Into Production at Ulaan Ovoo Coal Mine in Mongolia A commission appointed by Mongolia's Ministry of Mineral Resources and Energy has conducted the final permit inspection at Prophecy Resource Corp.'s Ulaan Ovoo mine site and has instructed the company to begin coal production. Prophecy Resource (TSX.V: PCY) has begun production of its first 10,000 tonnes of coal as a trial run of supply to be taken by rail to electric power stations in Darkhan and Erdenet, Mongolia's second and third largest cities after the capital, Ulaanbaatar. The company is the second-ever Canadian mining company to get a permit to mine in Mongolia and start production there. For the company's complete announcement, please visit: http://www.prophecyresource.com/news_2010_oct14.php         U.S. won't devalue dollar, Geithner says, overlooking last 97 years October 18, 2010 at 7:34 PM   By Jim Christie Reuters Monday, October 18, 2010 http://www.reuters.com/article/idUSTRE69H4VO20101018 PALO ALTO, California -- U.S. Treasury Secretary Timothy Geithner on Monday sought to ease fears the United States was actively weakening the dollar to gain an export edge, saying no country could devalue its way to health. "It is not going to happen in this country," Geithner said of dollar devaluation to Silicon Valley business leaders here. "It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to (be) competitive," Geithner added. "It is not a viable, feasible strategy and we will not engage in it." ... Dispatch continues below ... ADVERTISEMENT Prophecy Resource Goes Into Production at Ulaan Ovoo Coal Mine in Mongolia A commission appointed by Mongolia's Ministry of Mineral Resources and Energy has conducted the final permit inspection at Prophecy Resource Corp.'s Ulaan Ovoo mine site and has instructed the company to begin coal production. Prophecy Resource (TSX.V: PCY) has begun production of its first 10,000 tonnes of coal as a trial run of supply to be taken by rail to electric power stations in Darkhan and Erdenet, Mongolia's second and third largest cities after the capital, Ulaanbaatar. The company is the second-ever Canadian mining company to get a permit to mine in Mongolia and start production there. For the company's complete announcement, please visit: http://www.prophecyresource.com/news_2010_oct14.php Geithner broke his silence on the dollar's slide in recent weeks as the Federal Reserve considers more monetary easing. In response to audience questions from the Commonwealth Club of California, he said the United States needed to "work hard to preserve confidence in the strong dollar." On Friday, the dollar index hit a 10-month low against a basket of major currencies, while the greenback has been plumbing fresh 15-year lows against Japan's yen. Many U.S. trading partners have expressed concerns that further money creation by the Fed will push the dollar down further. Asked if the dollar would lose its status as the world's reserve currency, the Treasury chief said, "not in our lifetime." Geithner said it was important for the United States to maintain growth, but also demonstrate that it could improve its long-run fiscal prospects and restore budget discipline. The U.S. Treasury chief also reiterated his views that he believes China will continue to lift the value of its yuan currency to aid the rebalancing of its economy away from exports and toward domestic growth. Asked how much higher China should allow the yuan to rise, Geithner said: "Higher." "You can't know how far it should go. What you know now is that it's significantly undervalued which I think they acknowledge and it's better for them and of course very important for us that it move. And I think it's going to continue to move," Geithner said. He added that he delayed a report on whether Beijing manipulates the yuan's value for trade advantage, saying he wanted to take advantage of upcoming meetings of the Group of 20 developed and emerging economies to build multilateral support for a China move on the yuan. * * * Join GATA here: The Silver Summit Thursday-Friday, October 21-22, 2010 Davenport Hotel, Spokane, Washington http://www.silversummit.com/ New Orleans Investment Conference Wednesday-Saturday, October 27-30, 2010 Hilton New Orleans Riverside Hotel http://www.neworleansconference.com/redirect.php?page=index.html&source_... A * * * Support GATA by purchasing a colorful GATA T-shirt: http://gata.org/tshirts Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: http://www.goldrush21.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 ADVERTISEMENT Sona Resources Expects Positive Cash Flow from Blackdome, Plans Aggressive Exploration of Elizabeth Gold Property On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia. Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013." For complete information on Sona Resources Corp. please visit: www.SonaResources.com A Canadian gold opportunity ready for growth         Eric King: Gold shares to outperform going forward October 18, 2010 at 10:51 AM   11:50a ET Monday, October 18, 2010 Dear Friend of GATA and Gold: King World News proprietor Eric King today compares the performance of gold against the performance of gold shares and finds the latter climbing the proverbial "wall of worry" -- that is, underperforming the metal. King thinks that will change and his commentary is headlined "Gold Shares to Outperform going Forward." You can find it at King World News here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/10/18_G... Or try this abbreviated link: http://bit.ly/aep8C8 CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ADVERTISEMENT Sona Resources Expects Positive Cash Flow from Blackdome, Plans Aggressive Exploration of Elizabeth Gold Property On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia. Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013." For complete information on Sona Resources Corp. please visit: www.SonaResources.com A Canadian gold opportunity ready for growth Join GATA here: The Silver Summit Thursday-Friday, October 21-22, 2010 Davenport Hotel, Spokane, Washington http://www.silversummit.com/ New Orleans Investment Conference Wednesday-Saturday, October 27-30, 2010 Hilton New Orleans Riverside Hotel http://www.neworleansconference.com/redirect.php?page=index.html&source_... A * * * Support GATA by purchasing a colorful GATA T-shirt: http://gata.org/tshirts Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: http://www.goldrush21.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 ADVERTISEMENT Prophecy Resource Goes Into Production at Ulaan Ovoo Coal Mine in Mongolia A commission appointed by Mongolia's Ministry of Mineral Resources and Energy has conducted the final permit inspection at Prophecy Resource Corp.'s Ulaan Ovoo mine site and has instructed the company to begin coal production. Prophecy Resource (TSX.V: PCY) has begun production of its first 10,000 tonnes of coal as a trial run of supply to be taken by rail to electric power stations in Darkhan and Erdenet, Mongolia's second and third largest cities after the capital, Ulaanbaatar. The company is the second-ever Canadian mining company to get a permit to mine in Mongolia and start production there. For the company's complete announcement, please visit: http://www.prophecyresource.com/news_2010_oct14.php         Silver Enthusiast: Grading Jon Nadler October 18, 2010 at 10:40 AM   11:40a ET Monday, october 18, 2010 Dear Friend of GATA and Gold (and Silver): The Silver Enthusiast blog seems to have done a pretty good job documenting the perpetual bearishness of an especially widely quoted precious metals market analyst who doesn't seem to have ever found a good day to buy gold for the last thousand dollars of its move up, nor a good day to buy silver for the last $15 of its move up. The Silver Enthusiast's analysis is headlined "Grading Jon Nadler" and contains links to many of his commentaries. You can find it here: http://silverenthusiast.com/grading-jon-nadler/ CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ADVERTISEMENT Prophecy Resource Goes Into Production at Ulaan Ovoo Coal Mine in Mongolia A commission appointed by Mongolia's Ministry of Mineral Resources and Energy has conducted the final permit inspection at Prophecy Resource Corp.'s Ulaan Ovoo mine site and has instructed the company to begin coal production. Prophecy Resource (TSX.V: PCY) has begun production of its first 10,000 tonnes of coal as a trial run of supply to be taken by rail to electric power stations in Darkhan and Erdenet, Mongolia's second and third largest cities after the capital, Ulaanbaatar. The company is the second-ever Canadian mining company to get a permit to mine in Mongolia and start production there. For the company's complete announcement, please visit: http://www.prophecyresource.com/news_2010_oct14.php Join GATA here: The Silver Summit Thursday-Friday, October 21-22, 2010 Davenport Hotel, Spokane, Washington http://www.silversummit.com/ New Orleans Investment Conference Wednesday-Saturday, October 27-30, 2010 Hilton New Orleans Riverside Hotel http://www.neworleansconference.com/redirect.php?page=index.html&source_... A * * * Support GATA by purchasing a colorful GATA T-shirt: http://gata.org/tshirts Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: http://www.goldrush21.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 ADVERTISEMENT Sona Resources Expects Positive Cash Flow from Blackdome, Plans Aggressive Exploration of Elizabeth Gold Property On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia. Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013." For complete information on Sona Resources Corp. please visit: www.SonaResources.com A Canadian gold opportunity ready for growth         South Korea's central bank looks to gold October 18, 2010 at 7:37 AM   By Christian Oliver and Song Jung-a Financial Times, London Monday, October 18, 2010 http://www.ft.com/cms/s/0/74576bd6-da90-11df-81b0-00144feabdc0.html South Korea, holder of the world's fifth-biggest foreign exchange reserves, is considering expanding its small holdings of gold to diversify its dollar-heavy portfolio. "We need to give careful consideration to the matter of increasing gold volumes in the foreign reserves," Kim Choong-soo, governor of South Korea's central bank, told a parliamentary committee on Monday. Such a move would have a powerfully bullish effect on the gold market. With just 14 tonnes of gold -- or 0.2 per cent of $290 billion reserves -- Seoul is one of the smallest holders of gold among large economies. The world average is about 10 per cent, according to the World Gold Council, while countries such as the US, Germany, and France hold well over 50 per cent of their reserves in gold. ... Dispatch continues below ... ADVERTISEMENT Sona Resources Expects Positive Cash Flow from Blackdome, Plans Aggressive Exploration of Elizabeth Gold Property On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia. Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013." For complete information on Sona Resources Corp. please visit: www.SonaResources.com A Canadian gold opportunity ready for growth South Korea would join other Asian countries including China, India, Thailand, and Bangladesh in adding gold to its reserves. With emerging market countries buying gold and central banks in Europe halting their programmes of sales, central banks are set to become net buyers of gold this year for the first time since 1988, according to GFMS, the precious metals consultancy. That trend is one of the most important changes in the gold market in recent history, and has helped drive the metal's rally to a series of fresh highs. On Thursday it touched $1,387.10 a troy ounce, an all-time nominal record. South Korea's central bank stressed any moves would have to be "cautious" and "prudent" because of the high gold price. One person familiar with the Bank of Korea's stance on the metal said it was "receptive to the idea" of buying gold but stressed that there remained "differences of views" within the central bank. Historically, Seoul has favoured Treasury bills over commodities because they are more liquid and can be used as a weapon to control the notoriously volatile won. However, this reliance on the dollar, which makes up 63 per cent of reserves, has attracted widening criticism in recent years as commodity prices have soared. The rest of Seoul's reserves are in euros, sterling, and yen. Lee Ji-pyeong, senior researcher at the LG Economic Research Institute, said South Korea should have started building up gold stocks last year. Increasing its holdings now would be difficult but worthwhile, he said. "The bank is likely to remain hesitant, waiting for gold prices to come down, which is unlikely," he said. "Although gold prices have risen sharply in recent months, the upward trend is likely to continue for now as the dollar is likely to remain weak, with Ben Bernanke talking about additional easing measures and central banks worldwide likely to keep buying gold amid ultra-low interest rates." Another issue for central banks looking to diversify into gold is the size of the market. Relative to the size of foreign exchange reserves, the gold market is tiny, meaning any large purchases could drive up the price. An increase in Seoul's gold holdings of just a few percentage points would translate into 100-200 tonnes of purchases -- a significant additional source of demand compared to annual production from mines of just 2,500 tonnes. As one of the world's leading reserve holders and this year's president of the G20 leading economies, Seoul has advocated a system of global financial safety nets that might encourage many countries, South Korea included, to hold smaller reserves. Many economists are sceptical that this proposal, which is steered by the International Monetary Fund, could help reduce reserves, which they argue are at a level far beyond what is needed to defend against financial shocks. * * * Join GATA here: The Silver Summit Thursday-Friday, October 21-22, 2010 Davenport Hotel, Spokane, Washington http://www.silversummit.com/ New Orleans Investment Conference Wednesday-Saturday, October 27-30, 2010 Hilton New Orleans Riverside Hotel http://www.neworleansconference.com/redirect.php?page=index.html&source_... * * * Support GATA by purchasing a colorful GATA T-shirt: http://gata.org/tshirts Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: http://www.goldrush21.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 ADVERTISEMENT Prophecy Resource Goes Into Production at Ulaan Ovoo Coal Mine in Mongolia A commission appointed by Mongolia's Ministry of Mineral Resources and Energy has conducted the final permit inspection at Prophecy Resource Corp.'s Ulaan Ovoo mine site and has instructed the company to begin coal production. Prophecy Resource (TSX.V: PCY) has begun production of its first 10,000 tonnes of coal as a trial run of supply to be taken by rail to electric power stations in Darkhan and Erdenet, Mongolia's second and third largest cities after the capital, Ulaanbaatar. The company is the second-ever Canadian mining company to get a permit to mine in Mongolia and start production there. For the company's complete announcement, please visit: http://www.prophecyresource.com/news_2010_oct14.php             This email was sent to mangosofia.1vitalassets@blogger.com. Delivered by Feed My Inbox 230 Franklin Road Suite 814 Franklin, TN 37064 Create Account Unsubscribe Here