Published on Gold Anti-Trust Action Committee (http://www.gata.org)

China reported likely to keep buying U.S. debt

By cpowell
Created 2011-09-20 03:42

By Zhou Xin and Kevin Yao
Monday, September 19, 2011

http://www.reuters.com/article/2011/09/20/us-china-us-treasuries-idUSTRE... [1]

BEIJING -- China, the largest foreign holder of U.S. government debt, will keep buying U.S. Treasuries, the official People's Daily, the ruling Communist Party's mouthpiece, reported on Tuesday, citing government researchers.

In an article about the reasons for China's increased purchase of U.S. Treasuries, the newspaper cited Yan Xiaona, a researcher with the Chinese Academy of Social Sciences, as saying that the dollar "is relatively safer than the euro" because of the unfolding sovereign debt crisis in Europe.

Yan was quoted as saying that dollar-denominated assets remained attractive for investors around the globe.

... Dispatch continues below ...


Zacks Starts Coverage of Golden Phoenix with 'Outperform' Rating

Friday, September 9, 2011

SPARKS, Nevada -- Golden Phoenix Minerals Inc. (OTC Bulletin Board: GPXM) announced today that Zacks Investment Research has initiated coverage of the company with a comprehensive report giving a rating of "outperform."

The Zacks report provides information about the company's business model, its royalty mining growth strategy, recent acquisitions, drilling plans, and gold production. The report is available at the Golden Phoenix Internet site here:

http://goldenphoenix.us/pdf/GPXM_InitiationReport.pdf [2]

Golden Phoenix Minerals Inc. is a Nevada-based mining company whose focus is royalty mining in the Americas. Golden Phoenix is committed to delivering shareholder value by identifying, acquiring, developing, and joint-venturing gold, silver, and strategic metal deposits. Golden Phoenix owns, has an interest in, or has entered agreements with respect to mineral properties in the United States, Canada, Panama, and Peru, including the company's 30 percent interest in the Mineral Ridge gold project near Silver Peak, Nevada.

Please visit the Golden Phoenix Internet site here:

http://goldenphoenix.us [3]

For the company's full announcement of the coverage by Zacks, please visit:

http://goldenphoenix.us/press-release/zacks-investment-research-initiate... [4]

Wang Chaocai, a Ministry of Finance researcher, was quoted as saying that "what else can we buy if not U.S. Treasuries? It's more risky to buy into equities."

China's State Administration of Foreign Exchange, the agency that manages China's $3.2 trillion foreign exchange reserves, is under pressure to accelerate the diversification of the world's largest stockpile of foreign exchange reserves.

The details of China's reserve is a state secret, but independent economists estimate that two-thirds of the reserves are in dollar-denominated assets.

Zhu Ying, a university professor in Shanghai, was quoted by the People's Daily as saying that China could hold up to $3 trillion in U.S. treasuries in its reserves by 2015.

* * *

The Silver Summit
Thursday-Friday, October 20-21, 2011
Davenport Hotel, Spokane, Washington

http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 [5]

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2011
Hilton New Orelans Riverside Hotel

http://www.neworleansconference.com/ [6]

Support GATA by purchasing gold and silver commemorative coins:

https://www.amsterdamgold.eu/gata/index.asp?BiD=12 [7]

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts [8]

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal [9]

Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:

http://www.goldrush21.com/ [10]

Help keep GATA going

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http://www.gata.org/node/16 [12]


Prophecy Platinum Drills 49.5 Meters Grading 1.27 g/t PGM+Au at Yukon Wellgreen Project

Company Press Release
August 22, 2011

Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces results from its 2011 drilling program for its first completed hole on the Wellgreen Project in the Yukon Territory, Canada.

Borehole WS11-184 encountered 472.6 meters of mineralization grading 0.43% nickel equivalent from surface to the footwall contact. Within this larger swath of mineralization the hole encountered 49.5 meters of 1.27 grams per ton platinum group metals plus gold, 0.71% nickel, and 0.45% copper (or 1.11% nickel equivalent).

The geology transitioned from blebby disseminated to net-textured to massive sulphide approaching the footwall contact grading 6.3% nickel, 1.7% copper, 2.7 grams per ton platinum, 1.6 grams per ton palladium, 0.17 grams per ton gold, and 3.4 grams per ton silver. The drilling zones and results are tabulated here, with more information:

http://www.prophecyplat.com/news_2011_aug22_prophecy_platinum_wellgreen_... [13]