Daily Dispatches

Silver smashdown imminent


The warning is the usual disinformation from GFMS.

* * *

Silver to Hit $15/oz
on Investor Demand,
GFMS says

From Reuters
Tuesday, November 14, 2006


NEW YORK -- Strong investor buying of silver, fueled by a popular exchange-traded fund, is likely to take the silver price 17 percent higher to $15 an ounce in the next few months despite lower fabrication demand, precious metals consultant GFMS said on Tuesday.

China should 'pick right time' and buy gold, government economist says


The chart at Kitco suggests that the'right time' was any time in the last five years. ...

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From Reuters
Wednesday, November 15, 2006


BEIJING -- China should buy more gold at the right time as part of a strategy for diversifying its $1 trillion in foreign exchange reserves, a prominent government economist said in remarks published on Wednesday.

Health care costs likely to rise 10%


But then maybe the CPI can replace chemotherapy with cough drops. ...

* * *

By Ellen Simon
Associated Press
Monday, November 13, 2006


Health care costs could rise more than 10 percent in 2007, unless companies change their plans, according to a report by PricewaterhouseCoopers.

"What the insurers are projecting is double-digit increases if you don't do anything," said Michael Thompson, a principal at PWC. "Many employers, most employers, are doing something."

Ted Butler: Silver has a lot of catching up to do


9:27p ET Monday, November 13, 2006

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler's new essay, "Us and Them," notes how silver's price, even with its recent strong rise, badly lags the price of other industrial metals when silver should lead them because of its dual function as a monetary metal. "The investment punch to the silver price has barely been felt," Butler writes, "and before it's over the percentage gain in silver will dwarf that of any other metal."

Private silver currency gets notice in western North Carolina


Liberty Dollars
Used in Asheville
Are Not Legal Tender

By Ieva M. Augstums
Associated Press
via The Herald-Sun, Durham, North Carolina
Saturday, November 11, 2006


ASHEVILLE, North Carolina -- What's in your wallet? If it's a Liberty Dollar, watch out.

Similar in size and design to the U.S. Mint coins that are legal tender for all debts, public and private, Liberty Dollars are stamped from 1 troy ounce of 0.999 fine silver with a supposed face value of $20. It's an alternative currency accepted by some 85 businesses in Asheville, the largest city in the mountains of western North Carolina.

You're invited to GATA's reception in New Orleans on Saturday, Nov. 18


12:04p ET Sunday, November 12, 2006

Dear Friend of GATA and Gold:

The Gold Anti-Trust Action Committee invites its friends to an evening reception in a historic setting during and just a few blocks from the 2006 New Orleans Investment Conference:

Saturday, November 18, 2006
7-9 p.m.
Latrobe's on Royal
403 Royal St.
New Orleans, Louisiana

Tickets: $30 per person
Complimentary beer, wine, and hors d'oeuvres

Chinese central banker says gold is 'separate' from FX diversification


9:30p ET Friday, November 10, 2006

Dear Friend of GATA and Gold:

Reuters has gotten another interview with the head of China's central bank and drawn him out on plans for diversification of the country's foreign exchange reserves. The Reuters correspondent, Simon Rabinovitch, even had the wit to ask about gold, and got an answer that was telling for being so cryptic: "That's a separate thing."

NovaGold CEO and Grandich on Canada's ROB-TV


5:30p ET Friday, November 10, 2006

Dear Friend of GATA and Gold:

Rick Van Nieuwenhuyse, president and CEO of NovaGold Resources, was interviewed on Canada's ROB-TV this morning about the company's effort to fend off Barrick Gold's hostile takeover attempt. He was followed by Peter Grandich of the Grandich Letter, who explained why he believes that the U.S. government manipulates the equities and gold markets and who cited GATA's work. You can watch the program for a week at the ROB-TV archive here:

China will power gold upward for years, Gartman says


China 'To Boost Gold
for Years to Come'

By Ambrose Evans-Pritchard
The Telegraph, London
Friday, November 10, 2006


Gold surged more than $19 an ounce to $635 in New York trading after China's central bank chief said the country was eyeing "lots of instruments" as alternatives to US dollar reserves. Governor Zhou Xiaochuan said the bank had a "clear" plan to lower the dollar share of its exchange reserves, now $1 trillion and rising fast.

China says it long has had a dollar diversification plan. Do you?


8:06p ET Monday, September 4, 2006

Dear Friend of GATA and Gold:

Maybe you've heard the one about the two central bankers passing each other in the hall at the Bank for International Settlements in Basel, Switzerland. One says "hello" and the other thinks, "I wonder what he meant by that."

That's how you have to regard the comment made to Reuters by the governor of the People's Bank of China, Zhou Xiaochuan, and quoted in the Bloomberg story below. (Sorry, but we've been unable to locate the original Reuters story.) Zhou sent the U.S. dollar tumbling today by remarking at a European Central Bank conference in Frankfurt:

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