Far as I know, all the gold in California is in a bank in the middle of Beverly Hills in somebody else’s name. But that's just not good enough for Dallas' William J. Murphy III, who happens to be the chairman of something called the Gold Anti-Trust Action Committee.
Yesterday, the GATA done sent to the Federal Reserve and the U.S. Treasury Department some Freedom of Information Act requests, seeking "access to all documents in their possession that have been generated since 1990 and mention swaps of gold involving the U.S. government." Says Murphy, the requests are only the first in a series of missives, because GATA wants "a full accounting of the U.S. gold reserve," and it wants it pronto so investors can get a handle on a reserve they claim hasn't been audited since the 1940s. Me, I'm more into collecting giant balls made of tin foil, so I am far less troubled. --Robert Wilonsky
Keep the Dallas Observer Free... Since we started the Dallas Observer, it has been defined as the free, independent voice of Dallas, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Dallas with no paywalls.