China's premier acknowledges foreign-exchange problem

Section:

China Plans How to Put
Huge Reserves to Better Use

From Reuters
Wednesday, September 6, 2006

http://today.reuters.com/summit/summitarticle.aspx?type=summitNews&summi...

BEIJING -- Premier Wen Jiabao said on Tuesday that China's foreign exchange reserves hoard had grown too fast, bloating money supply, but that the country was taking measures to make better use of its forex stockpile.

Goldman Sachs acquires another key position at Treasury

Section:

Bush to Nominate Goldman's Steel to Treasury Post

From Reuters
Tuesday, September 5, 2006

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reut...

WASHINGTON -- President George W. Bush intends to nominate Robert Steel, a Goldman Sachs executive, to the position of Treasury undersecretary for domestic finance, the White House said on Tuesday.

Brazil's central bank keeps propping dollar up, pushing real down

Section:

Brazilian Real Falls
On Central Bank Dollar Purchases

By Adriana Brasileiro
Bloomberg News Service
Tuesday, September 5, 2006

http://www.bloomberg.com/apps/news?pid=20601086&sid=a.QsbQ4tzkEE

RIO DE JANEIRO -- Brazil's real weakened today on expectations the central bank will step up dollar purchases to rein in the currency's rally.

The central bank, which has been buying the U.S. currency on a daily basis for two months, bought dollars yesterday in an auction for 2.1295 reals each. Still, the real, which closed at a four-month high yesterday, is expected to keep strengthening in coming weeks on optimism dollar flows from investments and exports will stay strong, said Questus Patrimonio's Octavio Vaz.

Acquiring Glamis, is Goldcorp trying mainly to fend off Barrick?

Section:

8:35a ET Tuesday, September 5, 2006

Dear Friend of GATA and Gold:

Edgar J. Steele, a lawyer in Idaho who is proprietor of ConspiracyPenPal.com, has written an essay just posted at GoldSeek's companion site, SilverSeek, offering some interesting speculations about Goldcorp's bid for Glamis Gold and Goldcorp's own risk of becoming a target for Barrick Gold.

Essentially Steele argues that, in acquiring Glamis at a premium price, Goldcorp is striving to make itself too big and unattractive to distract Barrick from its predation of NovaGold.

Corrected e-mail address for silver market analyst Ted Butler

Section:

9p ET Monday, September 4, 2006

Dear Friend of GATA and Gold:

Here's a correction of the e-mail address for silver market analyst Ted Butler that was cited in the previous dispatch:

fasttedb@bellsouth.net

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Join GATA
at the
2006 Toronto Resource Investment Conference
Sunday-Monday, September 24-25, 2006

Ed Steer and Ted Butler: Gold, silver, GATA, and the COT

Section:

By Ed Steer and Ted Butler

(First, Ed Steer.)

One of the most pleasant aspects of being involved with exposing the manipulation of the price of gold and silver is the quality of the people who I have met on this journey.  Of course this would include the entire GATA community, most of whom I have had the pleasure of meeting many times over the last six years.

But at the top of the list people of people I have never met and who would automatically fall into the august group mentioned above is my now good friend Ted Butler. From the first time I read his work way back when, it was evident that this man knew of what he spoke. I have a natural tendency to gravitate to people such as this, and Butler's work was no exception.

James Turk: Mixed signals

Section:

11a ET Monday, September 4, 2006

Dear Friend of GATA and Gold:

GATA consultant James Turk, editor of the Freemarket Gold & Money Report and founder of GoldMoney, turns technical analyst again and finds that silver is leading gold and possibly signaling that the correction and consolidation in their prices are ending. Meanwhile, Turk writes, the weaknesses of the U.S. dollar are continuing. You can find Turk's analysis, "Mixed Signals," in the "Founder's Commentary" box at the top left of the GoldMoney hmoe page here:

Join GATA at the Toronto Resource Investment Conference Sept. 24-25

Section:

10:23p ET Sunday, September 3, 2006

Dear Friend of GATA and Gold:

The Gold Anti-Trust Action Committee will be participating in the 2006 Toronto Resource Investment Conference at the Metro Toronto Convention Centre on Sunday and Monday, September 24 and 25, and you're invited.

GATA Chairman Bill Murphy will address the conference, as will many experts supportive of or sympathetic to GATA, including Peter Grandich of the Grandich Letter, Frank Holmes of U.S. Global Investors, John Lee of Mau Capital Management, Jay Taylor of J. Taylor's Gold and Technology Stocks and J. Taylor's Energy and Tech Stocks newsletters, and Frank Veneroso of Veneroso Associates.

Gold call options may sniff competitive devaluations ahead

Section:

Even the Sophisticated
Are Attracted
by the Lure of Autumn Gold

By Ambrose Evans-Pritchard 
The Telegraph, London
Monday, September 4, 2006

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/09/04/ccview...

Gold almost always rises in the autumn, sometimes a little, lately by leaps and bounds.

Even when it churned ever-down from a peak of $850 an ounce in 1980 to $255 in March 2001, it usually managed to eke out a meagre counter-rally each September.

That's some medium of exchange that can't be exchanged

Section:

Chinese Official Opposes
Sale of Dollar Holdings

From Reuters
Saturday, September 2, 2006

http://asia.news.yahoo.com/060902/3/2pc2y.html

CERNOBBIO, Italy -- China would only damage itself if it sold dollars from its $941 billion stockpile of foreign currency reserves, a senior official said on Saturday.

The official, Cheng Siwei, vice chairman of the national parliament, said selling dollar-denominated assets would hurt China by weakening the dollar and the country should diversify its bond purchases.