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Daily Dispatches
Choking on hedge book, Newcrest stalls payment by 2 years
Submitted by cpowell on Fri, 2006-11-17 02:07 Section: Daily DispatchesNewcrest Defers Gold Hedges
to Gain Exposure to Spot Price
From Reuters
Friday, November 17, 2006
http://asia.news.yahoo.com/061117/3/2t1im.html
SYDNEY -- Australia's Newcrest Mining Ltd. said on Friday it had restructured its hedge book by deferring 1.6 million ounces of gold in order to get better exposure to market bullion prices. The company said the purpose of the restructure was to achieve a better balance of exposure to spot gold prices and to reduce the percentage of production hedged for any one year.
Resource Investor: Court finds Barrick doesn't own Chilean mine property
Submitted by cpowell on Fri, 2006-11-17 01:30 Section: Daily DispatchesBy Jon A. Nones
ResourceInvestor.com
Thursday, November 16, 2006
According to a Chilean news source, El Diario de Atacama, Rodolfo Villar, a local gold prospector and geologist, has won a court ruling establishing ownership to the properties in the 8,600 hectares of land surrounding and including Barrick's Pascua Lama. Barrick is challenging the ruling in the Chilean Court of Appeal.
Vince Borg, senior vice president of corporate communications for Barrick, confirmed this with Resource Investor but said the Villar case is a "nuisance suit."
John Crudele: How you may have kinda saved $392.10
Submitted by cpowell on Fri, 2006-11-17 01:21 Section: Daily DispatchesBy John Crudele
New York Post
Thursday, November 16, 2006
http://www.nypost.com/seven/11162006/business/how_you_may_have_kinda_sav...
You will be happy to know that your household costs actually went down in October because of that light truck you didn't buy.
I don't mean to mess with your head this early in the day. But the declining costs of light trucks was a major reason the government earlier this week was able to announce a surprise 1.6 percent drop in producer prices for October.
China doesn't seem to be moving out of the dollar yet
Submitted by cpowell on Thu, 2006-11-16 19:15 Section: Daily DispatchesChina not yet moving
away from dollar;
diversification story
masks rise in its
Treasury holdings in 2006
By Wanfeng Zhou
CBSMarketWatch.com
Thursday, November 16, 2006
http://www.marketwatch.com/news/story/story.aspx?siteid=mktw&guid=%7B17E...
NEW YORK -- China's reserve-diversification story remains very much in the spotlight in the currency market, yet there's little evidence that the world's largest holder of foreign-exchange reserves is selling U.S. dollars, analysts said Thursday.
U.S. is biggest currency manipulator, Chinese researcher says
Submitted by cpowell on Thu, 2006-11-16 02:21 Section: Daily DispatchesChina's Trillion-Dollar Dilemma:
What to Do with All that Stuff?
From Xinhua News Agency
China Daily, Beijing
Wednesday, November 15, 2006
http://www.chinadaily.com.cn/china/2006-11/15/content_733995.htm
As official data flash up staggering US$1 trillion of foreign exchange reserves, China is debating whether the huge stockpile is a blessing or a burden and what to do with it.
The huge reserves are a reflection of China's economic achievements since reforms began in the 1980s, but observers worry that an excessive, fast-growing stash will endanger currency stability and liquidity.
Silver smashdown imminent
Submitted by cpowell on Wed, 2006-11-15 01:46 Section: Daily DispatchesThe warning is the usual disinformation from GFMS.
* * *
Silver to Hit $15/oz
on Investor Demand,
GFMS says
From Reuters
Tuesday, November 14, 2006
http://today.reuters.com/news/articleinvesting.aspx?type=fundsNews2&stor...
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
Submitted by cpowell on Wed, 2006-11-15 01:32 Section: Daily DispatchesThe chart at Kitco suggests that the'right time' was any time in the last five years. ...
* * *
From Reuters
Wednesday, November 15, 2006
http://asia.news.yahoo.com/061115/3/2sw9m.html
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%
Submitted by cpowell on Mon, 2006-11-13 21:50 Section: Daily DispatchesBut then maybe the CPI can replace chemotherapy with cough drops. ...
* * *
By Ellen Simon
Associated Press
Monday, November 13, 2006
http://news.yahoo.com/s/ap/20061113/ap_on_he_me/healthcare_costs
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
Submitted by cpowell on Mon, 2006-11-13 21:36 Section: Daily Dispatches9:27p 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
Submitted by cpowell on Sun, 2006-11-12 12:34 Section: Daily DispatchesLiberty 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
http://www.heraldsun.com/state/6-787392.html
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.
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