Market retreat will force shady deals 'out of the woodwork'


Plunging Dollar Will Set
World Markets Reeling

Heather Stewart
The Observer, London
Sunday, December 3, 2006,,1962449,00.html

The slowdown in the US economy, which has sent the dollar into freefall over the past fortnight, will have devastating knock-on effects in markets around the world, analysts warn.

As the US slows and consumers in the world's biggest economy feel the buying power of the dollar in their pocket declining, global growth will be hit hard, economists say. The greenback took yet another turn for the worse on Friday, after a survey of the US manufacturing sector showed output declining for the first time in more than three years.

Aside from France, euro nations don't mind dollar's fall


Dollar Falls Quietly;
Aside from France,
Euro Nations Seem
Little Concerned

By the Associated Press
via Baltimore Sun
Saturday, December 2, 2006,0,41...

BERLIN -- With the European economy on the upswing, companies and governments are shrugging off the dollar's renewed slide against the euro this week -- a phenomenon once dreaded as potential poison for the continent's many exporters. Companies appear to have made their peace with a stronger currency for the moment, especially in export champion Germany, which is helped by stronger growth at home, currency hedging, and increasingly globalized production practices.

Volatile dollar may not be scary to Washington


By Steven R. Weisman
The New York Times
Friday, December 1, 2006

WASHINGTON, Dec. 1 -- As the dollar tumbled against the euro this week, reflecting fresh concern about a possible weakening of the American economy, Treasury Secretary Henry M. Paulson Jr. issued the usual phrase from the catechism: "A strong dollar is clearly in our nation's best interest."

Fed looks powerless to halt dollar's slide


By Steven C. Johnson
Friday, December 1, 2006

NEW YORK -- The dollar tumbled against major currencies on Friday en route to a second week of losses, and this time it's going to take more than Federal Reserve warnings about inflation to stop the slide.

Falling dollar means $3 gas again, higher interest rates


By Jon Birger
Fortune magazine
Friday, December 1, 2006

Given the sorry state of U.S. manufacturing and the widening trade gap between U.S. and the rest of the world, it's understandable why there's been little hand-wringing over the falling value of the U.S. dollar. Since October, the dollar has fallen 4% against both the euro and the Japanese yen. And this week, the dollar hit the lowest it's been against the euro since March 2005.

Gold ETFs nearly ready to go in India


India's Gold Exchange-Traded Funds in Final Stages

From the Indian Express, Mumbai
Friday, December 1, 2006

MUMBAI -- After a long wait, investors can now hope to buy and sell gold like shares on the stock exchanges. The Securities and Exchange Board of India (Sebi) is in the final stages of clearing gold exchange-traded funds in India, the largest market for the yellow metal in the world.

GATA makes its case at New York museum's gold exhibition


11:50p ET Thursday, November 30, 2006

Dear Friend of GATA and Gold:

In connection with the magnificent new exhibition on gold at the American Museum of Natural History in New York City, about which GATA dispatched an Associated Press story to you the other day (, your secretary/treasurer will speak as part of a panel discussion program at the museum from 7 to 8:30 p.m. on Wednesday, December 6.

Everything is golden on TV tonight


9:06p ET Thursday, November 30, 2006

Dear Friend of GATA and Gold:

Looks like nearly everything on TV tonight is about gold.

On CBS there's "Survivor." On PBS there's "Mystery." Fox has "Til Death." MyNetworkTV has "Desire." FX is broadcasting the movie "Anger Management." And QVC has "101 Great Jewelry Ideas."

But the big gold (and silver) program is once again on Canada's ROB-TV, which today gave an hour to Sprott Asset Management's chief investment strategist John Embry, who talked about gold and silver, the housing market, and the vulnerability created by the explosion of derivatives. Embry also listed his top three stock picks.

Peter Brimelow: Harry Schultz sees $1,500 gold


By Peter Brimelow
Thursday, November 30, 2006{5D7B90DD-2606-4DEC-A866-A428B3F87A9C}&siteid=mktw

NEW YORK -- The North Koreans exploded a nuclear bomb just after I wrote about the International Harry Schultz Letter in October. At the time, veteran editor Harry Schultz warned about an "October Surprise." One of his suggested surprises promptly came true.

British banks told to plan for 40% crash in housing prices


By Patrick Hosking
The Times, London
Thursday, November 16, 2006,,9063-2455507,00.html

Banks in the United Kingdom have been ordered by financial regulators to assess how they would cope in the event of house prices crashing by 40 percent. The instruction to include a housing slump scenario in their stress-testing models comes after the Financial Services Authority found that some banks were failing to include gloomy enough assumptions in their modelling.