7:34p ET Friday, January 3, 2003

Dear Friend of GATA and Gold:

As you can see from the Reuters story appended
here, Morgan Chase stomped around a little more
today supposedly in pursuit of that nasty "rumor"
that the bank has some connection to the gold
business. Morgan continues to ask the U.S.
Securities and Exchange Commission to investigate
the "rumor," as if its origin was something other
than the ordinary public reports of the U.S.
Office of the Comptroller of the Currency, where
Morgan's enormous gold derivative positions have
been registered.

Oh well ... If you happen to know anyone at Morgan
Chase or the SEC, please direct him here:

Office of the Comptroller of the Currency
U.S. Treasury Department
250 E St. SW
Washington, DC 20219
Telephone: 202-874-4700

The Reuters story below isn't quite right insofar
as it says GATA has "propagated" the gold rumors
about Morgan; GATA has only called attention to
what is public record about Morgan's gold
derivatives. GATA has no way of knowing the
profits, losses, and liabilities of Morgan's gold
business. (Nor, apparently, do Morgan's own
shareholders. Too bad for them.) But maybe Reuters
has come as close to the truth as can be expected
of a mainstream financial news organization. Gold's
friends probably should be delighted that this
issue has surfaced so much this week in any form.

GATA volunteers will staff our telephone and e-mail
address around the clock for the next several years
in anticipation of an SEC investigation, and we'll
alert you as soon as we learn of it.

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

* * *

JP Morgan asks SEC to check into gold trade rumors

http://biz.yahoo.com/rc/030103/markets_gold_jpmorgan_1.html

NEW YORK, Jan. 3 (Reuters) -- JP Morgan Chase & Co.,
a major bullion dealing bank, said Friday it has asked the
Securities and Exchange Commission to look into rumors
about gold trading losses that dogged the bank throughout
2002.

"We brought the nature and subject of the rumors to the SEC
and asked them to look at it," a spokesman for the bank said.

The rumors about Morgan's gold and gold derivatives operations
have been propagated over the Web site of the Gold Anti-Trust
Action Committee (GATA), a group that alleges bullion banks
have colluded with central banks to prevent the price of
bullion from rising.

The price of gold is at its highest in almost six years.

JP Morgan, which ran into trouble over its commodity and
derivatives dealings with bankrupt energy giant Enron Corp.,
said in November that market talk that it lost between $17
billion and $70 billion during the gold rally was "false
and irresponsible."

The rumors surfaced several times last year, hurting the
bank's stock price.

Two weeks ago GATA said it will assist an anti-trust lawsuit
filed by U.S. coin and bullion dealer Blanchard and Co.
against JP Morgan and Canadian mining giant Barrick Gold
accusing each of manipulating the gold market to keep prices
weak.

Barrick dismissed the allegations of the lawsuit as ludicrous
and without merit. JP Morgan declined to comment.

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FOR DAILY MONITORING OF GOLD
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NEWS AND ANALYSIS

Free sites:

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http://www.mininglife.com/

http://www.financialsense.com

http://www.goldensextant.com

http://www.goldismoney.info/index.html


Subscription site:

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Eagle Ranch discussion site:

http://os2eagle.net/checksum.htm

----------------------------------------------------

COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS

Centennial Precious Metals
3033 East 1st Ave.
Suite 403
Denver, Colorado 80206
www.USAGold.com
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
cpm@...


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222 South 5th St.
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www.ColoradoGold.com
Don Stott, Proprietor
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Gold@...


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7850 Metro Parkwa
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http://www.gloomdoom.com
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@...


Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
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www.certifiedcoins.com
Ed Lee, Proprietor
1-800-835-6000
leecoins@...


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3601 Park Center Building
Suite 120
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
www.milesfranklin.com
Contacts: David Schectman,
Andy Schectman, and Bob Sichel


Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@...


America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.buycoin.com
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
figoldstein@...

----------------------------------------------------

HOW TO HELP GATA

If you benefit from GATA's dispatches, please
consider making a financial contribution to
GATA. We welcome contributions as follows.

By check:

Gold Anti-Trust Action Committee Inc.
c/o Chris Powell, Secretary/Treasurer
7 Villa Louisa Road
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USA

By credit card (MasterCard, Visa, and
Discover) over the Internet:

http://www.gata.org/creditcard.html


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http://www.Crowne-Gold.com
Holding: GATAComm@...


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http://www.e-gold.com
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Account number 110915


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-END-