Lance Lewis: Shocked that no one's buying gold?

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4:20p ET Thursday, August 23, 2007

Dear Friend of GATA and Gold:

Lance Lewis, founder of investment advisory firm Lewis Capital Inc. and manager of the Lewis Capital Partners hedge fund, has written a wonderful commentary predicting when demand for gold will increase dramatically.

Now Russia's banks may be in trouble

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Russian Banks 'Borrowed Too Heavily'

By Catherine Belton
Financial Times, London
Thursday, August 23, 2007

http://www.ft.com/cms/s/0/4a609028-519f-11dc-8779-0000779fd2ac.html

Russian government may be taking over gold mining

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By Oleg Mityayev
RIA Novosti, Moscow
(Russian News and Information Agency)
Tuesday, August 21, 2007

http://en.rian.ru/analysis/20070821/73010774.html

MOSCOW -- The Russian government is preparing to take control of gold mining, another "strategic sector" of the national economy where profits are expected to soar.

ECB funding fails to relieve euro interbank market

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By David Milliken
Reuters
Thursday, August 23, 2007

http://www.reuters.com/article/bondsNews/idUSL238417220070823

FRANKFURT, Germany -- The European Central Bank's first ever emergency injection of three-month funds was swamped with demand from banks on Thursday but brought little relief to an interbank lending market beset by credit worries.

David Callaway: Money-center banks aren't fooling anybody

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By David Callaway
MarketWatch.com
Thursday, August 23, 2007

http://www.marketwatch.com/news/story/four-little-piggies-went-market/st...

Treasury's plan backfires as IMF targets dollar's overvaluation instead of yuan's

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By Christopher Swann
Bloomberg News Service
Thursday, August 23, 2007

http://www.bloomberg.com/apps/news?pid=20601087&sid=a1nc9c96MQI0&refer=h...

WASHINGTON -- The U.S. Treasury took two years to persuade the International Monetary Fund to police global currency markets -- and just two months to trash the initiative once the IMF adopted it.

Cancel interest rate increase, German industry pleads

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By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, August 23, 2007

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/23/cnecb1...

German industry has appealed to the European Central Bank to cancel a rise in interest rates next month, warning that the credit crunch risks triggering a worldwide economic downturn.

Central banking is easy; the challenge is to stay in power

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1a Thursday, August 23, 2007

Dear Friend of GATA and Gold:

Today's edition of The King Report by Bill King (M. Ramsey King Securities, Burr Ridge, Illinois, http://www.mramseyking.com/thekingreport.html), maybe the best daily letter about the financial markets, shows how easy central banking is:

Debt overtaking GDP in Britain too

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Record Numbers Face Debt Meltdown

By Edmund Conway
The Telegraph, London
Thursday, August 23, 2007

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/23/cndebt...

Countrywide confirms Bank of America's $2 billion investment

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By Alex Veiga
Associated Press
via Yahoo News
Wednesday, August 22, 2007

http://biz.yahoo.com/ap/070822/countrywide_bank_of_america.html?.v=1