Daily Dispatches

3:57p ET Wednesday, January 31, 2007

Dear Friend of GATA and Gold:

The central banks must be running low on gold, for today the International Monetary Fund piped up with another gold-selling scheme, maybe because the IMF's 3,217 tonnes of gold can be considered the gold of no one in particular and so may be easier to part with.

Just perfectly, the IMF committee whose report recommends selling gold was chaired by Andrew Crockett, president of JPMorgan Chase International, the great gold shorter for the central banks and formerly director general of the Bank for International Settlements, the great coordinator of the central bank gold-price suppression scheme, as acknowledged in June 2005 by the BIS' own William S. White, head of the bank's monetary and economic department:

After the Flood:
How Central Banks Fret
About Failures
Once Liquidity Dries Up

By John Plender
Financial Times, London
Tuesday, January 30, 2007

http://www.ft.com/cms/s/539c92d0-b006-11db-94ab-0000779e2340.html

In September 1998 Bill McDonough, the then president of the Federal Reserve Bank of New York, corralled representatives of 14 leading banks into the Fed's offices at 33 Liberty Street in Manhattan's financial district and urged them to bail out the ailing Long-Term Capital Management hedge fund. It was a classic central banker's response to a potential systemic crisis.

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.

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."