Story with links here: http://www.gata.org/node/7835

10:23a ET Sunday, September 27, 2009

Dear Friend of GATA and Gold:

On Friday CNBC broadcast a remarkable six-minute interview with Jim Rickards, director of market intelligence for McLean, Virginia-based consulting firm Omnis (

The purpose of the Fed, Rickards remarked, is to inflate the dollar to prop up the banks; claims that the Fed's purpose is to achieve "price stability" are manifestly nonsense. Central bankers, he added, now plan to turn the International Monetary Fund's Special Drawing Rights into the new world reserve currency replacing the dollar, a new round of money printing to create some stability in the world financial system during the dollar's steady but gradual and controlled devaluation.

Rickards said he expects gold to go to $2,000 but added, "When you own gold you're fighting every central bank in the world."

Of course you've been hearing such things from GATA for some time, even as GATA hasn't been invited on to CNBC since Chairman Bill Murphy's appearance there in early 1999, so we will be offering Rickards a position as our director of tinfoil hats. You can watch his interview at the CNBC archive here:

http://www.cnbc.com/id/15840232?video=1275511738&play=1

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