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Bill Murphy
Chairman, Gold Anti-Trust Action Committee (GATA)

Roundtable Discussion with Bill Murphy

Bill Murphy

07/06/2002 Interview  Real Audio
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Interview Transcript

The Gold Anti-Trust Action Committee (GATA) was organized in January 1999 as a Delaware corporation to advocate and undertake litigation against illegal collusion to control the price and supply of certain financial securities, particularly securities involving gold. The committee arose from essays by Bill Murphy, a financial commentator, and by Chris Powell, a newspaper editor in Connecticut, published at Murphy's Internet site, www.lemetropolecafe.com.

Murphy's essays reported evidence of collusion among financial institutions to control the price of gold. 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 involved in the collusion against gold.

The response to these essays from gold interests throughout the world was so favorable that the committee was formed. Murphy is chairman and Powell is secretary/treasurer. The committee is raising money and recruiting a law firm for the lawsuit it advocates.

GATA also seeks to disclose and publicize the huge speculative short positions in gold taken by financial institutions and bullion banks. GATA believes that 10,000 tons of gold or more have been sold short by these speculators, even as yearly mine supply of gold in 1998 was only 2,529 tons. When, through our lawsuit, we are able to show how short in gold even one major financial institution really is, other institutions will buy gold in quantity, knowing the short position in gold is too large to close without causing a substantial rise in the price of gold. Then the gold collusion game will be over.

Murphy grew up in Glen Ridge, N.J., and graduated from the School of Hotel Administration at Cornell University in 1968. In his senior year he broke all the Ivy League single-year pass-receiving records. He then became a starting wide receiver for the Boston Patriots of the American Football League. He went on to work for various Wall Street brokerage firms and specialized in commodity futures. He began as a Merrill Lynch trainee and went on to Shearson Hayden Stone and Drexel Burnham. From there he became affiliated with introducing brokers and eventually started his own brokerage on 5th Avenue in New York.

www.gata.org

Le Metropole Cyberspace Cafe for Investors

Expert Contact Information

Gold Anti-Trust Action Committee, Inc.
7 Villa Louisa Road
Manchester, CT  06043-7541

Email  Website: www.gata.org

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