Jeffrey Saut: Our unnatural makets and the mysterious buyers from Mars


By Jeffrey Saut
Chief Investment Strategist
Raymond James Financial Inc.
Monday, December 11, 2006

Well, it finally happened. Last week one of my own gang called me Doctor Doom. I guess it was inevitable because in this business if you are not forecasting Dow 20,000 you are deemed a bear. However, the veiled reference to Doctor Doom and Doctor Gloom of an era gone by is not exactly appropriate. Indeed, the dynamic duo of Dr. Henry Kaufman (Doctor Doom) and Dr. Albert Wojnilower (Doctor Gloom) were the market gurus of the day in the 1970s and were predicting the end of the economic world as we knew it. Clearly that has not been our mantra, as anyone reading these missives since 1999 knows.

Inflation is four times higher than CPI, U.S. economist says


Gold's Rise Points to Inflation;
Actual Rate Much Higher
Than CPI, U.S. Economist Says

By Jonathan Chevreau
Financial Post / National Post, Toronto
Wednesday, December 13, 2006

The real annual inflation rate is closer to 8% than the 2% or 3% governments claim, a prominent U.S. economist said yesterday.

Canadian gold stock index replaced with a global one


Gold Index Takes Global Turn,
but Canadian Names Dominate

New S&P Vehicle More Inviting
to Investors Seeking Commodity Play

By David Parkinson
The Globe and Mail, Toronto
Wednesday, December 13, 2006

Farewell, S&P/TSX capped gold index. Hello, world.

After the end of trading this Friday, Standard & Poor's, the Toronto Stock Exchange's index provider, will no longer publish its separate subindex of the Canadian gold mining stocks contained in the S&P/TSX composite index. In its place Monday morning will be the S&P/TSX global gold index, which will exist outside of the composite and will be made up not just of Canadian gold stocks, but of all the world's biggest publicly traded gold miners.

Government appeals order to redesign currency for blind


Too many people see it everywhere already!

* * *

By The Associated Press
Tuesday, December 12, 2006

The Bush administration on Tuesday asked an appeals court to overturn a ruling that could require a redesign of the nation's currency to help the blind.

Justice Department lawyers filed the appeal with the U.S. Court of Appeals for the District of Columbia Circuit on behalf of Treasury Secretary Henry Paulson.

MorganChase buys protection against SEC actions


J.P. Morgan Names Cutler Counsel

By Peter Lattman
The Wall Street Journal
Wednesday, December 13, 2006

Stephen M. Cutler, a partner at Wilmer Cutler Pickering Hale & Dorr LLP and a former enforcement chief at the Securities and Exchange Commission, was named general counsel for J.P. Morgan Chase & Co.

Mr. Cutler, who plans to join the company in February, will also head the bank's legal and compliance activities worldwide. He succeeds Joan Guggenheimer, who died this year.

Barrick open to acquiring more gold and copper assets


God knows Barrick is short enough of both....

* * *

Barrick CFO Sees a Lot More Upside to Gold Price

From Reuters
Tuesday, December 12, 2006

TORONTO -- Barrick Gold Corp.'s chief financial officer said on Tuesday that the fundamentals for the price of gold remain strong.

"I think we've got a lot more upside on the gold price. I certainly can see the highs that we had earlier this year being taken out," said Jamie Sokalsky in an interview.

Al Jazeera joins ROB-TV in exposing the gold price suppression scheme


8:45p ET Tuesday, December 12, 2006

Dear Friend of GATA and Gold:

Al Jazeera, the international news organization based in Qatar and owned by the emir of that Arabian Gulf country (an ally of the United States recently visited by your secretary/treasurer in another capacity), has just joined Canada's Report on Business Television in what might as well be called Radio (and Television) Free America.

Having the U.S. government as a subsidiary is good business


Goldman Sachs 4th-Quarter Profit Doubles

From The Associated Press
Tuesday, December 12, 2006

NEW YORK -- Goldman Sachs Group Inc., the biggest investment bank on Wall Street, reported fourth-quarter profit doubled from last year on record takeover activity and robust stock market trading.The company reported a profit of $3.15 billion, or $6.59 per share, compared with $1.63 billion, or $3.35 per share, in the year-ago period. Revenue soared to $9.41 billion, up from $6.4 billion last year.

Dow Jones interviews Blanchard's Ryan on gold's prospects


8:35p ET Monday, December 11, 2006

Dear Friend of GATA and Gold:

Dow Jones Newswires today interviewed Blanchard & Co.'s research director, Neal Ryan, about gold's prospects, and the story is appended. We hope to hear from Ryan this week about his efforts to persuade the International Monetary Fund that it should do something to correct the misleading accounting of central bank gold.

CHRIS POWELL, Secretary/Treasurer

Heroic Afghans safeguarded their country's golden heritage


By Angela Doland
Associated Press
Monday, December 11, 2006

PARIS -- The mystery baffled archaeologists for more than two decades. What happened to 22,000 pieces of gold -- jewel-encrusted crowns, daggers, and baubles from an ancient burial mound -- that had apparently vanished from Afghanistan in the 1980s.

With the country mired in wars and general chaos, rumors swirled. Had the 2,000-year-old gold treasure trove been spirited away from the Afghan National Museum to Russia, or sold on the black market, or melted down? Many assumed it was gone forever, yet another cultural loss for a country that had become accustomed to such ruin.