Coalition urges dollar devaluation to regain jobs in U.S.

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Coalition Urges Government
to Lower Dollar Value

By Kylene Kiang
Cox News Service
via The Western Star, Lebanon, Ohio
Thursday, July 13, 2006

http://www.western-star.com/school/content/shared/news/stories/TRADE_DEF...

WASHINGTON -- Academic, business, and labor groups called on the Bush administration Wednesday to lower the value of the dollar in order to alleviate the country's ballooning trade deficit and its adverse effects on American industry.

U.S. may be going bankrupt, Federal Reserve consultant warns

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By Edmund Conway
The Telegraph, London
Friday, July 14, 2006

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/07/14/cnusa1...

The United States is heading for bankruptcy, according to an extraordinary paper published by one of the key members of the country's central bank.

A ballooning budget deficit and a pensions and welfare timebomb could send the economic superpower into insolvency, according to research by Professor Laurence Kotlikoff for the Federal Reserve Bank of St. Louis, a leading constituent of the U.S. Federal Reserve.

Surge in gold options above $1,000 hints at hedge fund interest

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By Ambrose Evans-Pritchard
The Telegraph, London
Friday, July 14, 2006

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/07/14/cngold...

A sudden surge in demand for gold options cashable at over $1,000 an ounce is the clearest sign to date that hedge funds and savvy traders are betting on a big rise in bullion prices.

UBS said investors had begun to show keen interest in "call" options to expire in December with strike prices of $1,000 an ounce and above.

Syria moves reserves to euros and will end dollar peg this year

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By Dania Saadi
Bloomberg News Service
Tuesday, July 11, 2006

http://quote.bloomberg.com/apps/news?pid=20601087&sid=aRHSyiFxU6P0

CAIRO -- Syria, accused by the U.S. of supporting terrorism, plans to end its currency peg to the dollar by December to reflect closer trade ties with Europe, central bank Governor Adib Mayaleh said.

The Central Bank of Syria has already converted half its foreign-exchange reserves to euros, Mayaleh said in a telephone interview from Damascus, without being more specific. Syria's reserves, including gold, totaled $4.1 billion at the end of 2005, according to

He got everything right except the safe-deposit box

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Man Turns Granddad's Coins into Pure Gold

By Terry Savage
Chicago Sun-Times
Monday, July 10, 2006

http://www.suntimes.com/output/savage/cst-fin-terry109.html

Nick Dorado e-mailed me with a problem: Too much money!

To be more specific, he literally had pounds and pounds of coins, collected and saved by his grandfather. He stored them in a safe-deposit box for years, always wondering if he had some rare penny or other collector's item that would be worth far more than its face value.

Ted Butler: Silver shorts tell CFTC to drop dead

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3:23p ET Monday, July 10, 2006

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler's new commentary, "Shorts to CFTC: Drop Dead," explains how the concentrated short position in silver on the New York Commodities Exchange is even worse than it looks. You can find Butler's commentary at GoldSeek's companion site, SilverSeek, here:

http://news.silverseek.com/TedButler/1152556486.php

GATA improves its Internet site and dispatch system

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8:45p ET Sunday, July 9, 2006

Dear Friend of GATA and Gold:

GATA is improving its Internet site -- GATA.org -- and transferring its e-mail dispatch system there from YahooGroups. This will give us more control over our work and will organize it better, putting our dispatch archive in the same place with everything else we have posted on the Internet. It also will hasten our dispatches to you.

Gold council acts again amid worldwide economic imbalances

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World Gold Council Selects the Lucky Winners
of Pan-Arab Gold Jewellery Design Contest

From AMEInfo, Dubai
Sunday, July 9, 2006

http://www.ameinfo.com/90941.html

The World Gold Council conducted a second judging
session of this year's Pan-Arab Gold Jewellery Design
contest where final winners were selected from the 30
finalists, reaffirming the rich and undeniable talent
of the Arab designers in the world.

GATA is cited in Dubai again, this time in silver market analysis

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Is Buying Silver As Good As Gold?

From AMEInfo, Dubai
Sunday, July 9, 2006

http://www.ameinfo.com/90934.html

Last week there were rumors that Dubai was trying to
corner the silver market like the legendary Hunt
Brothers in the 1970s. This latter episode culminated
in a $50-an-ounce blowoff in 1980 followed by a price
collapse that left these one-time multi-billionaires
bankrupt.

St. Louis paper's gold story quotes GATA backer Mike Kosares of Centennial

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Thank God SOMEBODY talked back to Peter Bernstein!

* * *

Those Following Gold's Glitter
Are Wagering on Bad Times

By Eric Heisler
St. Louis Post-Dispatch
Saturday, July 8, 2006

Throughout history, investors have gobbled up gold for one primary reason: To bet on catastrophe.

Since it became legal for Americans to own in 1975, gold has served as a buffer against inflation and a protection from bank failure.