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Daily Dispatches

Gold market is manipulated even before central banks get involved

Section: Daily Dispatches

9:35p ET Wednesday, May 18, 2005

Dear Friend of GATA and Gold:

In his new essay "Pirates Reprise," Ron Kirby reports
that the U.S. Treasury Department has quietly altered
its records of the U.S. government bonds held by
foreign entities. As a result, the value of bonds
reported held by Japan and China has fallen sharply
while the value of bonds reported held by Britain and
Caribbean banks has risen just as sharply.

Bush administration may ask Greenspan to stay at Fed after term expires

Section: Daily Dispatches

By Robert Schroeder
CBSMarketWatch.com
Tuesday, May 17, 2005

http://www.marketwatch.com/news/yhoo/story.asp?
source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7B95360032%2DDDDA%2D4238%
2D9604%2DF0FF7B7765EE%7D

WASHINGTON -- President Bush nominated Reuben Jeffrey on Tuesday to
be chairman of the Commodity Futures Trading Commission.

Altered U.S. bond holdings data gives the game away

Section: Daily Dispatches

Administration Considers
Delaying Fed Chief's Exit;
An Extra Few Months Would Give
Greenspan the Longest Tenure

By Nell Henderson
Washington Post
Wednesday, May 18, 2005

Federal Reserve Chairman Alan Greenspan frequently urges Americans
to postpone retirement and stay on the job longer.

He may soon get the chance to do so himself.

Bush administration officials are mulling whether to encourage

Adjustable and interest-only mortgages constitute 2/3rds of new home loans

Section: Daily Dispatches

By Jim Sinclair
Monday, May 16, 2005

http://www.jsmineset.com/

Chinese and Japanese holdings of U.S. Treasury instruments declined
in April. Someone should tell the U.S. media because this
development is earth-shaking in a financial sense.

Clearly the most important news of the day got little play in the
financial media. The Treasury International Capital (TIC) report

U.S. warns China to overhaul currency system

Section: Daily Dispatches

Concerns Mount About Mortgage Risks

Latest Data Show Move Toward Alternative Loans
Is More Pronounced Than Previously Thought

By Ruth Simon
The Wall Street Journal
Tuesday, May 17, 2005

In the latest sign of how frothy the housing market has become, new
data show the degree to which people are stretching to buy homes in
a hot housing market.

The data, from the Mortgage Bankers Association, show that

Fears for dollar as central banks sell U.S. assets

Section: Daily Dispatches

By Jeannine Aversa
Associated Press
Tuesday, May 17, 2005

http://news.yahoo.com/s/ap/20050517/ap_on_go_ca_st_pe/us_china_curren
cy_18

WASHINGTON -- The Bush administration warned China on Tuesday that
it could be cited as a currency manipulator and face economic
sanctions unless it moves swiftly to overhaul its currency system.

Ted Butler: A spectacular setup for silver and gold, but TAKE DELIVERY

Section: Daily Dispatches

By Christopher Swann and Richard Beales
Financial Times, London
Monday, May 16, 2005

http://news.ft.com/cms/s/883cd656-c62b-11d9-b69b-
00000e2511c8,ft_acl=,s01=2.html

The world's central banks were net sellers of US assets in March for
the first time since September 2002, according to figures that may
hint that the recent rebound in the dollar will be temporary.

Former Goldman Sachs exec to head commodity futures trading regulator

Section: Daily Dispatches

By Ted Butler
InvestmentRarities.com
Tuesday, May 16, 2005

Developments in the current market structure, as defined by the
Commitment of Traders Report (COT), require comment. Extrapolated
through today, silver is still in a spectacular structure, with the
best COT position in a number of years, according to my
interpretation.

Gold has now joined silver, with what I would estimate as a 100,000

James Turk: The quest for sound money in New Hampshire

Section: Daily Dispatches

City Hedge Funds Head for Domino Collapse

Peter Koenig and Louise Armitstead
The Times, London
Sunday, May 15, 2005

http://business.timesonline.co.uk/article/0,,8209-1612390,00.html

Bad investments by some of the biggest hedge funds in London have
triggered unprecedented losses, record demands for money back, and

Sharp decline in foreign purchases of U.S. government bonds

Section: Daily Dispatches

12:01p ET Monday, May 16, 2005

Dear Friend of GATA and Gold:

James Turk, founder of GoldMoney, editor of the
Freemarket Gold & Money Report, and consultant
to GATA, has written a short essay describing
his efforts in support of what's being called the
Sound Money Bill in New Hampshire -- legislation
that would allow people to pay or receive payments
from state government in gold or silver. You can

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