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This is the real news of the day but it won't be carried on any media you will see....here is a mess, the manipulation of free markets such as the NYSE and COMEX for the benefit of Bushies buddies like Kenny Boy Lay, et al and all of which is now run by Snow.......for more on this, go to www.gata.org or get a free 2 week subscription to www.lemetropolecafe.com
Basically means that as the market price suppression scheme comes out, the price of gold gonna hoist the Repubs up and dangle them by the short and narlies....but get the key part of that, gold gonna go up even way more than it has this year.
******************extracted stuff from daily commentary about real stuff *****************************
Speaking of Barrick and The Gold Cartel, this is the BIG NEWS of the day:
Blanchard and Company Lawsuit Versus Barrick Gold Corporation and J.P. Morgan Chase & Co. to Move Into Discovery Phase /FROM PR NEWSWIRE DALLAS 888-776-3971/ TO BUSINESS AND LEGAL AFFAIRS EDITORS:
Blanchard and Company Lawsuit Versus Barrick Gold Corporation and J.P. Morgan Chase & Co. to Move Into Discovery Phase
NEW ORLEANS, Nov. 4 /PRNewswire/ -- Blanchard and Company, Inc. received word today from the U.S. District Court for the Eastern District of Louisiana that its case against Barrick Gold Corporation (NYSE: ABX; Toronto) and J.P. Morgan Chase & Co. (NYSE: JPM) once again may continue into the discovery phase of the lawsuit. The Court denied Defendants' Motions for Reconsideration of Judge Berrigan's September 3rd ruling. Blanchard's Complaint that Barrick and Morgan have violated U.S. antitrust laws by unlawfully combining to manipulate the price of gold and to monopolize the market in gold was brought in December of 2002.
In denying Defendants' Motions, the Court stated that, "Motions made pursuant to Rules 59(e) and 60(b) ... are not intended to relitigate issues properly before the Court when it issued the challenged ruling, or raise new facts or arguments that were not then before the Court ... This is what Defendants have attempted to do here. While the Defendants are understandably dissatisfied with a ruling not in their favor, this is neither the time nor method to raise these issues again."
Blanchard's CEO, Donald W. Doyle, Jr., stated that, "Barrick and Morgan appear to have lost the chance to delay the discovery phase of the case any further." Having already served J.P. Morgan and Barrick with its requests for production, Blanchard expects to move into the discovery process immediately.
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More on the same:
REUTERS Court rejects Barrick request to rethink gold case
VANCOUVER, British Columbia, Nov 4 (Reuters) - A U.S. court has denied a request from Barrick Gold Corp. , the world's No. 3 gold producer, that the court reconsider its ruling that an antitrust case against Barrick may go ahead, the plaintiff in the case said on Tuesday.
The plaintiff, Blanchard and Co., a New Orleans-based coin and bullion dealer, launched a suit against Barrick, as well as financial services giant J.P. Morgan Chase & Co Inc. , last December.
Blanchard alleged the two companies broke U.S. antitrust laws by colluding to rig the gold price and monopolize trading in bullion.
Toronto-based Barrick and J.P. Morgan tried to get the case thrown out but were unsuccessful. Barrick then tried in September to get the court to rethink its earlier ruling but this too has now failed. Barrick instead received a reprimand from the court.
"While the defendants are understandably dissatisfied with a ruling not in their favor, this is neither the time nor method to raise these issues again," Blanchard quoted the latest judgment as saying.
Barrick was not immediately available for comment. It has previously called the civil action "utterly ridiculous".
Blanchard said the latest ruling meant the discovery phase of the lawsuit, in which both sides make available to each other documents relevant to the case, could now continue.
"Barrick and Morgan appear to have lost the chance to delay the discovery phase of the case any further," said Blanchard chief executive, Donald Doyle Jr.
((Reporting by Nicole Mordant, editing by Peter Galloway; Reuters Messaging: nicole.mordant.reuters.com@reuters.net; +604 664 7315))
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GATA’s Chris Powell sums up the importance of Blanchard’s victory in this GATA email dispatch:
Dear Friend of GATA and Gold:
Blanchard & Co., the New Orleans-based coin and bullion dealer, announced today that the effort by Barrick Gold and J.P. Morgan Chase to delay the search for evidence in Blanchard's gold price-fixing lawsuit has failed and that the lawsuit now will move into what is called the discovery phase.
GATA has long believed that if such a lawsuit could only reach discovery and if the bullion banks and the big shorts in gold, Barrick foremost among them, could only be compelled to answer questions about their activity in the gold market, the collusion against gold would be exposed no matter how the lawsuit was decided.
So Blanchard's reaching the discovery phase is a huge victory for the gold cause, for which everyone in the gold community and everyone who supports free markets should be profoundly grateful.
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