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The Gold Anti-Trust Action Committee (GATA) is a Non-profit civil rights and educational organization. Its charter is to advocate and undertake Litigation against purported illegal collusion to control the price and supply of Gold and related financial securities. HISTORY The committee arose from essays written by Bill Murphy, a financial commentator, and by Chris Powell, the editor of a newspaper in among financial institutions to control the price of gold. Mr. Powell, whose newspaper had been involved in Antitrust litigation, replied with an essay proposing that gold interests should act on Murphy's essays by bringing suit against the financial institutions suspected of involvement in the collusion against gold. The response to these essays from gold interests throughout the world was so favorable that the committee was formed in 1999. GATA is tax-exempt under section 501-c-3 of the Internal Revenue Code of the United States of America, and is incorporated in the state of Delaware , United States. Bill Murphy is the Chairman of GATA and Chris Powell is the Secretary/Treasurer. GATA CONSULTANTS
GATA SUPPORTERS John Embry is a 2004 , John states; : "We, at Sprott Asset Management, have felt for some time that the gold price has not remotely reflected its true underlying fundamentals. In response, we have conducted a comprehensive study of available information on the subject and have concluded that the evidence strongly supports those who believe that the gold price has been and continues to be suppressed." Further, in section 2 of the report, John states; : "A great deal of what follows is based on research completed by the Gold Anti-Trust Action Committee (GATA). We consider their work to be excellent in scope, yet chronically under appreciated by gold market observers. Disdain for GATA's allegations is not justified in our opinion. Quite the opposite: more than all others, GATA displays an appreciation and understanding of the gold market's structure and dynamics. Whereas consensus forecasters see a free market roughly in equilibrium, GATA has amply shown that the gold market is both controlled and seriously distorted with respect to gold's fundamentals." GATA CRITICS Dennis Gartman is the author of ''The Gartman Letter'' , an investment advisory letter which at times, includes specific trading recommendations on the gold market. His website describes the service as follows; "The Gartman Letter is a daily commentary on the global capital markets subscribed to by leading banks, broking firms, hedge funds, mutual funds, energy and grain trading companies around the world." Dennis has often dismissed the claims by GATA that the gold market has been manipulated, mainly through comments in his advisory letter. From ''The Gartman Letter'', dated 5 January 2004 : : "... The GATA folks are again aflame as they blame the weakness the price of gold upon various market machinations by governments and large Wall Street organizations. This is utter nonsense, of course, but we shall never be able to convince GATA of that fact. ... Even if it is not nonsense, even if GATA were truly on to something, we should care not a whit for the market will move where the market needs to move. The gold market had become far too heavily invested-in by the public, and those public investors have to be taken out." Dennis Gartman and Bill Murphy have debated publicly on some issues related to gold on Report On Business Television (ROB-TV) , a cable television network that airs in newspaper, for some highlights of their debate. SEE ALSO
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