Blanchard & Co.'s anti-trust lawsuit against Barrick Gold and J.P. Morgan Chase alleging their conspiracy to control the gold price can proceed to trial, a federal judge in New Orleans ruled in a decision released today. The judge, Helen G. Berrigan, denied a "summary judgment" motion by Barrick and Morgan Chase to dismiss the lawsuit. She found that Blanchard, the New Orleans-based coin and bullion dealer, had proven its standing to sue and the appropriateness of its claims under the Sherman Act. The judge pointedly rejected Barrick's claim to be immune from suit as the agent of central banks in the implementation of their policy on gold. Welcoming Judge Berrigan's decision, Blanchard CEO Don Doyle thanked the Gold Anti-Trust Action Committee and its consultant, Reginald H. Howe, for their work in bringing the first federal lawsuit alleging manipulation of the gold price. That lawsuit was dismissed on technical grounds in U.S. District Court in Boston in March 2002. Doyle said Blanchard had learned much from the Howe case and used it to build its own case. Barrick and Morgan Chase have 10 days to apply to Judge Berrigan for permission to appeal her decision to the 5th Circuit Court of Appeals. If her dismissal of the Barrick/Morgan Chase "summary judgment" motion stands, the Blanchard lawsuit would proceed with Blanchard empowered to compel Barrick and Morgan Chase to produce evidence and testimony prior to trial. the cartel fixing the price have some explaining to do. hold onto your gold this could get nasty
good article. Of course, depending on how things turn out, holding on to your gold may be the last thing you want to do.
AHA! so there really WAS/IS a conspiracy! or was there? Maybe they only wanted us to THINK there was skullduggery...think about it.
