DEBATING OUR FINANCIAL DESTINY

10/06/2000

By Bill Murray, GATA
You know of GATA's assertions about former CEO of Goldman Sachs and former U.S. Treasury Secretary Robert Rubin being the originator and orchestrator of the manipulation of the gold market. We have cited the current U.S. administration as being instrumental in the orchestration of a low gold price.

Robert Rubin was mentioned in the recent "Euro Intervention" FAZ article and not his Co-CEO at Citibank, Sandy Weill. Why? GATA has stated that the Germans know that Robert Rubin has been the ringleader behind the gold market collusion and wanted the world to know that GATA knows what we are talking about.

As a result of this publicity, 20,000 copies of our "Gold Derivative Banking Crisis" document have been downloaded from the www.GATA.org. site. Not viewed, downloaded, and this is a 119 page document.

The election for the next President of the US is as close as it gets. Perhaps, the following comment by Presidential aspirant AL GORE will be enlightening and revealing in that it suggests that the present US Administration uses Bobby Rubin as its consultant on how to work the markets.

In my humble opinion, this is just more anecdotal evidence that GATA is right about how the US government has engineered a manipulation of the gold market. That plan was hatched by Robert Rubin. In the end, this government manipulation will fail. When it does, the US public will go berserk. It is too bad that the US mainstream press is so cowered, they will not even mention what GATA has to say. That is something they will rue in the future.

FIRST PRESIDENTIAL DEBATE
October 3, 2000

In the fourth part of the presidential debate, Vice President Gore and Governor Bush discuss their handling of potential financial crises

"Debating Our Destiny"

Commission on Presidential Debates

Battling a financial crisis

MR. LEHRER: New question. There can be all kinds of crises, Governor -- a question for you. There could be a crisis, for instance, in the financial area. The stock market could take a tumble. There could be a failure of a major financial institution. What is your general attitude toward government intervention in such events?

GOV. BUSH: Well, it depends, obviously, but what I would do, first and foremost, is I would get in touch with the Federal Reserve chairman, Alan Greenspan, to find out all the facts and all the circumstances. I would have my secretary of the treasury be in touch with the financial centers -- not only here, but at home. I would make sure that key members of Congress were called in to discuss the gravity of the situation, and I would come up with a game plan to deal with it. That's what governors end up doing. We end up being problem solvers. We come up with practical, common-sense solutions for problems that we're confronted with, and in this case, in the case of a financial crisis, I would gather all the facts before I made the decision as to what the government ought or ought not to do.

MR. LEHRER: Vice President Gore?

VICE PRESIDENT GORE: Yeah, first I want to compliment the governor on his response to those fires and floods in Texas. I accompanied James Lee Witt down to Texas when those fires broke out, and FEMA has been a major flagship project of our reinventing government efforts, and I agree, it works extremely well now.

On the international financial crises that come up, my friend Bob Rubin, the former secretary of Treasury, is here. He's a very close advisor to me and a great friend in all respects. I have had a chance to work with him and Alan Greenspan and others on the crisis following the collapse of the Mexican peso, when the Asian financial crisis raised the risk of worldwide recession that could affect our economy, and now, of course, the euro's value has been dropping, but seems to be under control.

But it started, for me, in the last eight years, when I had the honor of casting the tie-breaking vote to end the old economic plan here at home and put into place a new economic plan that has helped us to make some progress -- 22 million new jobs and the greatest prosperity ever. But it's not good enough, and my attitude is, You ain't seen nothin' yet. We need to do more and better.

MR. LEHRER: So, Governor, would you agree there is no basic difference here on intervening -- the federal government intervening in what might be seen by others to be a private financial crisis, if it's that severe?

GOV. BUSH: No, there's no difference on that. There is a difference, though, as to what the economy has meant. I think the economy has meant more for the Gore and Clinton folks than the Gore and Clinton folks have meant for the economy. I think most of the economic growth that has taken place is the result of ingenuity and hard work and entrepreneurship, and that's the role of government, is to encourage that. But in terms of the response to the question, no.

MR. LEHRER: Okay. END.




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