3p ET Thursday, May 22, 2008

Dear Friend of GATA and Gold:

In response to our request for access to documents involving gold swaps and the U.S. gold reserve, the Federal Reserve Board has provided GATA about 900 pages that are nearly all just copies of correspondence from the public to the Fed. As might be expected, the only documents that seem as if they might have useful information have been withheld from us or redacted into meaninglessness.

But as you may see from the most recent letter from GATA's Washington law firm, William J. Olson P.C. of McLean, Virginia, GATA is pursuing the Fed's appeal procedure in regard to the withholding and redacting, and our freedom-of-information initiative already has proven worthwhile. For it has established that the Federal Reserve does have secrets about the U.S. gold reserve -- that things have been done with their gold that the American people might object to if they were allowed to know, or that things have been done with the gold reserve that can be accomplished only by deceiving the financial markets.

The Fed's acknowledgement that it is withholding information about the U.S. gold reserve may be taken as more evidence that the U.S. government is surreptitiously manipulating the gold market.

You can find GATA's letter of appeal here:

http://www.gata.org/files/GATA-FedFO...

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