Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

*** Gold related post (Blanchard Vs JPM) ***

ml,
I find the timing of this legal development to be nothing short than amazing...

If you'll recall, it was the original news of Blanchard's lawsuit agin JPM/ABX that helped propel the PoG through the very critical $354 level back in January making Sinclair look like a genius. Spielberg couldn't have scripted this better if he tried and while Tarantino might have done so, I think he was too bearish at the time to really do it justice...... <VBG>
=============================================================

Blanchard and Company Gold Manipulation Lawsuit Versus Barrick Gold Corporation and J.P. Morgan Chase & Co. Moves Into Discovery Phase

9/9/2003 12:11:00 PM

NEW ORLEANS, Sep 9, 2003 /PRNewswire via COMTEX/ -- Blanchard and Company, Inc., the largest retail dealer in physical gold in the United States, received word today from the U.S. District Court for the Eastern District of Louisiana that its case against Barrick Gold Corporation and J.P. Morgan Chase & Co. may now move into the discovery phase of the lawsuit. The Court denied Defendants' Motions to Dismiss 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. The antitrust lawsuit was originally brought in December of 2002.

In denying Defendants' Motions, the Court stated that, "Here, in the extraordinary market for gold and gold derivatives, consumers/investors are readily injured by market participants with sufficient market power to depress price."

Blanchard's CEO, Donald W. Doyle, Jr., stated that, "the Court's decision brings us one step closer to obtaining justice for our clients, and for all gold investors, who have been damaged by Barrick and Morgan." Having already served J.P. Morgan and Barrick with its requests for production, Blanchard expects to move into the discovery process immediately.

SOURCE Blanchard and Company, Inc.

Neal R. Ryan of Blanchard and Company, Inc., [phone]
http://www.blanchardonline.com

http://cbs.marketwatch.com/tools/quotes/newsarticle.asp?guid=
{4358F699-FA4A-4C93-9671-9AAB3D67ADDB}&siteid=mktw&dist=nbs&symb=