Falling yen sparks carry trade alert

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By Gillian Tett and Peter Garnham
Financial Times, London
Monday, January 29, 2007

http://news.yahoo.com/s/ft/20070130/bs_ft/fto012920071956112665;_ylt=AvN...

The yen hit a four-year low against the US dollar on Monday, intensifying fears that the rising level of currency-based "carry trades" by hedge fund investors could jolt markets if these positions were suddenly unwound.

Hedge-fund hardball: How Amaranth was devoured by its banker, MorganChase

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Hedge-Fund Hardball

Amid Amaranth's Crisis,
Other Players Profited

Goldman Offered Deal;
J.P. Morgan Balked,
Then Did One Itself

By Ann Davis, Gregory Zuckerman, and Henny Sender
The Wall Street Journal
Tuesday, January 30, 2007

When Amaranth LLC collapsed in the fall, after swiftly losing more than $6 billion, it was the biggest hedge-fund failure ever. Now as investors slowly get back what's left of their money, it's becoming clear the debacle also had some big winners: other players in the high-stakes energy market who profited from a crippled rival's travails.

Ron Struthers: New commodities index is a lie

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8:50p ET Monday, January 29, 2007

Dear Friend of GATA and Gold:

Ron Struthers, editor of Struthers' Resource Stock Report, reports that the new Reuters/CRB commodities price index, introduced in July 2005, shows a plunge in commodity prices even as a calculation of the index according to its former parameters shows a steady increase continuing. The new index, Struthers writes, "has only one purpose and that is to mislead the investment community. It is simply another tool in the Fed/government's chest for the management of economic data."

David Bond reports on Vancouver conference, pro-gold speech by RBC's Fell

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7:45p ET Monday, January 29, 2007

Dear Friend of GATA and Gold:

Veteran mining journalist David Bond reports on the Vancouver conference and RBC Capital Markets chief Anthony Fell's salute to gold and his denunciation of central bank mismanagement of the world financial system. This great read is headlined "PEEDAC Will Be on Steroids" and you can find it at GoldSeek's companion site, SilverSeek, here:

MineWeb: China scrambles for African mineral resources

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2:14p ET Monday, January 29, 2007

Dear Friend of GATA and Gold:

MineWeb's Alec Hogg reports from Davos, Switzerland, about international recognition that China is aggressively pursuing natural resources in Africa -- a good way of spending all those extra U.S. dollars. You can find Hogg's report, "New Scramble for African Mineral Resources Developing," here:

http://www.mineweb.net/int_beat/601870.htm

James Turk comments on International Speculator report on GATA's work

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11:59a ET Monday, January 29, 2007

Dear Friend of GATA and Gold:

GoldMoney founder and Free Market Gold & Money Report editor James Turk has some interesting comments on the interview done with your secretary/treasurer by Doug Hornig of Doug Casey's International Speculator letter. You can find Turk's comments, headlined "Is the Gold Price Being Managed?," in the "Founder's Commentary" box at the top left of the GoldMoney home page here:

Even central banks can't figure out market risks now

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ECB Head Warns About
'Unstable' Markets

By Gillian Tett
Financial Times, London
Sunday, January 28, 2007

http://www.ft.com/cms/s/1a94c8be-af15-11db-a446-0000779e2340,_i_rssPage=...

DAVOS, Switzerland -- Conditions in global financial markets look potentially "unstable," suggesting investors need to prepare for a "repricing" of some assets, Jean-Claude Trichet, president of the European Central Bank, said over the weekend in Davos.

'Debt and Delusion' author Peter Warburton to address May 10 CMRE meeting

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2:17p ET Sunday, January 28, 2007

Dear Friend of GATA and Gold:

The agenda for the spring dinner meeting of the Committee for Monetary Research and Education, to be held Thursday evening, May 10, in New York City, has been updated to include a tremendous new speaker: Peter Warburton, the British economist and author of "Debt and Delusion," which, published in 1999, showed how the central banks were imperiling the world's economy.

'Debt and Delusion' author Peter Warburton to address May 10 CMRE meeting

Section:

2:17p ET Sunday, January 28, 2007

Dear Friend of GATA and Gold:

The agenda for the spring dinner meeting of the Committee for Monetary Research and Education, to be held Thursday evening, May 10, in New York City, has been updated to include a tremendous new speaker: Peter Warburton, the British economist and author of "Debt and Delusion," which, published in 1999, showed how the central banks were imperiling the world's economy.

IMF gold trading rules changes are set to boost gold price

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From AMEInfo.com, Dubai
Sunday, January 28, 2007

http://www.ameinfo.com/108894.html

The International Monetary Fund is in the process of revising the laws that govern the trading of gold by the world's central banks, which will radically change the ability of central bankers to suppress the gold price, a major factor depressing the price of the yellow metal that has been an open secret for years.