Daily Dispatches

James Turk: Dollar has broken down out of its recent trading range

Section:

History Repeating

By Marc Faber
www.DailyReckoning.com
Tuesday, October 19, 2004

Investors should never forget the lessons of the South
Sea Bubble and John Law's experiment with paper
money, as discussed in Friday's Reckoning. The
Mississippi Scheme in particular is relevant to the
current situation in the United States; in fact, there
are several lessons contemporary investors can
learn from John Law's rise and ultimate demise.

Marc Faber: Excess liquidity can slosh into commodities and push them up fast

Section:

Right In Front of Our Eyes

By Theodore Butler
www.InvestmentRarities.com
Tuesday, October 19, 2004

There were two extraordinary developments last
week. Although the connection was not made
openly, they were very much related.

The first development was the historic one-day
selloff in the base metals on October 13. It is
difficult to recall a day when metals such as
copper, aluminum, zinc, and lead fell by as much

Having presided in scandal at Citigroup, Rubin seeks political return with Kerry

Section:

By The Associated Press
11:05p ET Sunday, October 17, 2004

http://story.news.yahoo.com/news?
tmpl=story&u=/ap/20041018/ap_on_bi_ge/oil_prices&cid=509&ncid=716

SINGAPORE -- The price of crude oil surged past
an unprecedented $55 per barrel Monday amid
continued uncertainty over production, high
demand, and tight supply globally.

SEC''s investigation of Fannie Mae gets serious

Section:

Bearish on Uncle Sam?
As Foreign Investment Shows Decline, Economists Keep Watch

By Jonathan Weisman and Ben White
Washington Post
Tuesday, October 19, 2004

http://www.washingtonpost.com/wp-dyn/articles/A43402-2004Oct18.html

NEW YORK -- On Sept. 9, as it must frequently do, the
U.S. government turned to Wall Street to raise a little

Ted Butler: Market rigging is blowing up but silver miners still don''t see it

Section:

Private Investors Abroad
Cut their Investments in U.S.

By Eduardo Porter
The New York Times
Tuesday, October 19, 2004

http://www.nytimes.com/2004/10/19/business/worldbusiness/19dollar.html
?ex=1099219293&ei=1&en=787550cf64944fa5

The flow of foreign capital contracted in August as
private investors lost some of their appetite for

Are foreign central banks and investors tiptoeing away from the dollar?

Section:

Citi's Bob Rubin Is Back In The Game;

Politics, that is. He has Kerry's ear, and
that improves the candidate's credibility

By Marcia Vickers
Business Week
October 25, 2004

http://businessweek.com/magazine/content/04_43/b3905097_mz020.htm

On Oct. 12, the eve of the presidential debate
focusing on the economy and other domestic

Another mainstream press story notes that central banks are propping up U.S.

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From Reuters
Tuesday, October 19, 2004

http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=6547505

WASHINGTON -- U.S. mortgage finance giant Fannie
Mae said on Tuesday the Securities and Exchange
Commission had changed the status of its
investigation of the company's accounting to
formal from informal.

Harmony to bid for Gold Fields, jeopardizing Gold Fields'' merger with Iamgold

Section:

"Conspiracies rarely exist."
-- Dennis Gartman
in The Gartman Letter,
September 14, 2004

* * *

Marsh & McLennan Accused of
Price Fixing and Collusion

By Thor Valdmanis, Adam Shell and Elliot Blair Smith
USA Today
Friday, October 15, 2004

http://www.usatoday.com/money/industries/insurance/2004-10-15-spitzer-

Oil surges past $55 in Asian trading Monday

Section:

Harmony set to bid for Gold Fields

By John Reed in Johannesburg
and Arkady Ostrovsky in Moscow
Financial Times, London
Sunday, October 17, 2004

http://news.ft.com/cms/s/5c410f94-2078-11d9-af19-00000e2511c8.html

South African gold producer Harmony, with the backing
of Russian metals giant Norilsk Nickel, is poised to

Westerners may not be the only ones who know how to rig markets

Section:

Deficit issue to figure in debate;
Budget watchers blast both candidates

By William L. Watts
CBS.MarketWatch.com
Wednesday, October 13, 2004

http://cbs.marketwatch.com/news/story.asp?guid=%7BA6997469%2D0925%
2D4189%2D93D0%2D69E75A587C8E%7D&siteid=mktw

WASHINGTON -- Who is the bigger spendthrift?

President Bush and Democratic challenger John

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