Asian Development Bank official urges management of dollar's fall

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By Keith Bradsher
International Herald Tribune, Paris
Thursday, December 7, 2006

http://www.iht.com/articles/2006/12/07/business/adb.php

HONG KONG -- A senior Asian Development Bank official predicted Thursday that the dollar was likely to decline further and called for East Asian countries to make sure that their currencies appreciate in unison -- and do not start swinging sharply in value relative to one another.

IMF said ready to propose proper accounting for central bank gold

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5:30p ET Thursday, December 7, 2006

Dear Friend of GATA and Gold:

Neal Ryan, research director for New Orleans coin and bullion dealer Blanchard & Co., plaintiff in the heroic and rather successful gold price-rigging lawsuit against Barrick Gold, reports in an interview today with TheStreet.com that the International Monetary Fund is about to propose proper and transparent accounting practices for leased and swapped central bank gold.

Asian currencies rise as China says dollar may fall

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Asian Currencies Advance
After China Says
Dollar May Decline

By Jake Lee and Yumi Teso
Bloomberg News Service
Thursday, December 7, 2006

http://www.bloomberg.com/apps/news?pid=20601087&sid=avabg9ZFFeac&refer=h...

Asian currencies advanced after China's central bank published an October report predicting the U.S. dollar may weaken and fund managers will sell dollar- denominated assets.

Iran reported switching from dollars to euros in oil trade

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By Marc Wolfensberger
Bloomberg News Service
Wednesday, December 6, 2006

http://quote.bloomberg.com/apps/news?pid=20601087&sid=a5EsYUqL5LLs

TEHRAN -- Iran, the world's fourth-largest oil exporter, plans to reduce its use of the U.S. dollar in world trade and increase use of the euro, two Tehran-based newspapers reported.

The Tehran Times said today Iran has started substituting euros for dollars in oil sales, citing an unidentified person at the Oil Ministry. Iran Daily reported Iran wants to cut its dollar-based transactions to a minimum, citing Minister of Economy Davoud Danesh-Ja'fari.

'Journalists' don't bother to question original sources on gold, PPT

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10:30a Wednesday, December 6, 2006

Dear Friend of GATA and Gold:

Today's Globe and Mail in Toronto has an article interviewing Sprott Asset Management's John Embry and touching on the gold price suppression scheme and the U.S. government's so-called "Plunge Protection Team." The article may be most notable for its dismissive quotation from Bloomberg News writer Caroline Baum. The article says:

James Turk: Another commodity correction is behind us

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10:55p ET Tuesday, December 5, 2006

Dear Friend of GATA and Gold:

GoldMoney's James Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, writes in an essay published today that another brief correction in the commodities markets is over and that the commodities boom has a long way to go. Turk writes:

"The reason for this bull market in commodities will surprise no one. It's the U.S. dollar. There are people around the world who would rather own $1 million worth of zinc or copper or soybeans or any other commodity than $1 million in a bank account, and for good reason. The purchasing power of the U.S. dollar is being inflated away, and this inflation will no doubt worsen in the weeks and months ahead. But zinc is zinc; the value of zinc and every other commodity is based on their utility, and that utility cannot be inflated away."

China seeks direct talks with OPEC

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By Jim Krane
Associated Press
Monday, December 4, 2006

http://news.yahoo.com/s/ap/20061204/ap_on_bi_ge/china_opec

DUBAI -- China wants to start direct negotiations with OPEC to secure a stable oil supply and an equitable share of the oil market, a top official said here Monday in comments that underline the Chinese economy's rapidly growing energy needs.

Zhai Jun, China's assistant minister of foreign affairs, told conference participants in Dubai that his country was trying to develop "a negotiating mechanism with OPEC."

Two big Asian central banks learn to live with dollar's fall

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China seeks direct talks with OPEC

From the Financial Times, London
Monday, December 4, 2006

http://news.yahoo.com/s/ft/20061204/bs_ft/fto120420061642266991

Asian central banks appear divided on how to respond to the falling US dollar. Several countries, including Thailand, South Korea, and Singapore, appear to have intervened to curb its decline against their currencies, while heavyweights Japan and China are taking a more benign approach.

British banks probed over adequacy of collateral from hedge funds

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By Peter Thal Larsen
Financial Times, London
Sunday, December 3, 2006

http://news.yahoo.com/s/ft/20061203/bs_ft/fto120320061653056819

London's largest investment banks are to face a wide-ranging probe into their measurement and management of collateral amid concerns that some may not be properly prepared for a sudden market downturn.

The Financial Services Authority, the City watchdog, has launched an investigation into the banks' systems for measuring and managing the collateral they demand from hedge funds, banks, and other trading counterparties.

Ted Butler: What happens at $100 silver?

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5p ET Monday, December 4, 2006

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler's new essay is a speculation on which silver-related investments will do best as the price of silver reaches $100. Butler's preference is for real metal rather than mining shares -- particularly U.S. silver eagles. His essay is titled "What Happens at $100 Silver?" and you can find it at GoldSeek's companion site, SilverSeek, here: