Gold Anti-Trust Action Committee
The Gold Anti-Trust Action Committee was organized in January 1999 to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities. 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 suppress the price of gold. Powell, whose newspaper had been involved in antitrust litigation, replied with an essay proposing that gold mining and investor 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 was so favorable that the committee was formed and formally incorporated in Delaware. Murphy became chairman and Powell secretary/treasurer.
GATA underwrote the federal anti-trust lawsuit of its consultant, Reginald H. Howe -- Howe vs. Bank for International Settlements et al. -- which was pursued in U.S. District Court in Boston from 2000 to 2002. While the Howe suit was dismissed on a jurisdictional technicality, it became the model for Blanchard Coin and Bullion's anti-trust lawsuit against Barrick Gold and J.P. Morgan Chase & Co., which was filed in U.S. District Court in New Orleans in 2002 and prompted Barrick Gold's decision to stop selling gold in advance for 10 years.
GATA continues to expose and oppose collusion against a free market in gold, other precious metals, currencies, and related securities.
GATA is recognized by the U.S. Internal Revenue Service as a tax-exempt educational and civil rights organization and it welcomes financial contributions.