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Daily Dispatches
Japanese pension fund buys gold -- but only the ETF kind
Submitted by cpowell on Wed, 2012-05-16 13:13 Section: Daily DispatchesJapanese Pension Fund Switches to Gold
By Ben McLannahan
Financial Times, London
Wednesday, May 16, 2012
http://www.ft.com/intl/cms/s/0/1be7a2a2-9f3f-11e1-a255-00144feabdc0.html
TOKYO -- Okayama Metal & Machinery has become the first Japanese pension fund to make public purchases of gold, in a sign of dwindling faith in paper currencies.
Goldman Sachs e-mails show illegal naked short selling was bank's policy
Submitted by cpowell on Wed, 2012-05-16 08:58 Section: Daily DispatchesAccidentally Released -- and Incredibly Embarrassing -- Documents Show How Goldman et al. Engaged in 'Naked Short Selling'
By Matt Taibbi
Rolling Stone, New York
Tuesday, May 15, 2012
http://www.rollingstone.com/politics/blogs/taibblog/accidentally-release...
Brodsky and Quaintance: Central banks aim to redistribute gold and push it way up
Submitted by cpowell on Tue, 2012-05-15 18:29 Section: Daily Dispatches6:26p ET Tuesday, May 15, 2012
Dear Friend of GATA and Gold:
In their May letter, Paul Brodsky and Lee Quaintance of QB Asset Management in New York argue that the investment case for gold is to a great extent a matter of its likely official revaluation upward to support confidence-based currencies that have lost the market's confidence.
Grandich renews offer of million-dollar bet on gold's reaching $2,000 before $1,000
Submitted by cpowell on Tue, 2012-05-15 17:25 Section: Daily Dispatches5:20p ET Tuesday, May 15, 2012
Dear Friend of GATA and Gold:
Market analyst and mining company adviser Peter Grandich today renewed his offer of a $1 million wager that gold will see $2,000 before it sees $1,000. There have been no takers so far. Grandich's commentary is headlined "Put Your Money Where Your Mouth Is" and it's posted at his Internet site here:
QB's Brodsky, GoldMoney's Turk, and Eric Sprott interviewed
Submitted by cpowell on Tue, 2012-05-15 17:13 Section: Daily Dispatches5:13p ET Tuesday, May 15, 2012
Dear Friend of GATA and Gold:
Fund manager Paul Brodsky of QB Asset Management in New York today tells King World News that as central banks increase their market intervention to reflate, asset prices will not be destroyed but purchasing power will be. An excerpt from the interview is posted at the King World News blog here:
Germans fret about their foreign gold reserves
Submitted by cpowell on Tue, 2012-05-15 16:11 Section: Daily DispatchesFrom Der Spiegel, Berlin
Tuesday, May 15, 2012
http://www.spiegel.de/international/germany/debate-breaks-out-in-germany...
Proactive Investors interviews GATA Chairman Murphy
Submitted by cpowell on Tue, 2012-05-15 10:49 Section: Daily Dispatches10:47a ET Tuesday, May 15, 2012
Dear Friend of GATA and Gold:
GATA Chairman Bill Murphy reviews the organization's work in a seven-minute audio interview with Proactive Investors posted here:
http://www.proactiveinvestors.co.uk/companies/ceo_focus/1147/gold-antitr...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Stoferle, Macleod discuss clamor for gold reserve repatriation
Submitted by cpowell on Tue, 2012-05-15 10:42 Section: Daily Dispatches10:40a Tuesday, May 15, 2012
Dear Friend of GATA and Gold:
In an audio discussion at GoldMoney's Internet site, Erste Bank gold market analyst Ronald Stoferle and economist Alasdair Macleod discuss the market and calls to repatriate national gold reserves held by foreign central banks. The interview can be found here:
Miners will need $3,000 gold price to be profitable, WGC head says
Submitted by cpowell on Tue, 2012-05-15 09:42 Section: Daily DispatchesFrom Reuters
Monday, May 14, 2012
http://www.reuters.com/article/2012/05/15/peru-mining-wgc-idUSL1E8GF0AR2...
Sharp increases in mining costs mean gold will need to reach $3,000 an ounce in five years for the industry to stay profitable, World Gold Council chief executive Aram Shishmanian said on Monday.
Commodity Online withdraws IMF gold purchase report
Submitted by cpowell on Tue, 2012-05-15 09:32 Section: Daily Dispatches9:30a ET Tuesday, May 15, 2012
Dear Friend of GATA and Gold:
Commodity Online has withdrawn its report, dispatched to you yesterday (http://www.gata.org/node/11357), that the International Monetary Fund plans to buy $2 billion in gold. "Instead," Commodity Online says, "the IMF has stated only that it plans to increase its reserves." Commodity Online's correction is posted here:
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