Daily Dispatches

Ted Butler: Commitment of traders report update


Citigroup Sees 1,400 Job Cuts

From Reuters
Monday, February 28, 2005


NEW YORK --- Citigroup Inc., the world's largest financial services
company, on Monday said it will cut about 1,400 jobs in its
corporate and investment bank in early 2005, and take a related $275

Citigroup will have fewer employees to rig markets with


By Chris Giles, Economics Editor
Financial Times, London
Saturday, February 26, 2005


Remember these names. Toshihiko Fukui. Zhou Xiaochuan. Perng Fai-
Nan. Park Seung. Joseph Yam. And Yaga Venugopal Reddy. They are the
central bank governors of Japan, China, Taiwan, South Korea, Hong

Bill Fleckenstein: Dress rehearsal for a dollar deluge


5:36p ET Sunday, February 27, 2005

Dear Friend of GATA and Gold:

GATA consultant James Turk, founder of GoldMoney
and editor of the Freemarket Gold & Money Report,
has written in his newsletter an excellent review
of the British government's obsession with
putting the International Monetary Fund's gold
on the market. Turk's analysis is titled "The
Truth Behind the Proposal to Sell IMF Gold" and

Sure, there''s no inflation ... at least not in the precious metals markets


8:32p ET Monday, February 28, 2005

Dear Friend of GATA and Gold:

Clive Roffey, editor of Gold Action, has interesting
commentary about last week's panic selling of the
shares of Durban Deep, a longtime supporter of GATA.
It's called "DROOY Panic" and you can find it at
GoldSeek here:


Financial Times: Why Bush should heed Asia''s central bankers


Yellow Metal to be Traded in Paper Form

Business Standard, Mumbai
Tuesday, March 01, 2005


The Union finance minister today announced that the Securities
Exchange Board of India (Sebi) and the Reserve Bank of India (RBI)

Clive Roffey on the panic selling of Durban Deep shares


By Bill Fleckenstein
MSN Money
Monday, February 28, 2005


This week I'd like to put into perspective a few recent developments:
Problems in the housing-ATM food chain, inflation concerns and news
that the South Korean central bank planned to diversify its dollar

Prerequisite to current events: Bubble 101

Indians soon may get a chance to be like Westerners and pretend to own gold


"Inflation remains well controlled."
-- Federal Reserve Governor Ben Bernanke,
Thursday, February 24, 2005.

"What remains 'well controlled' is
only the precious metals market."
-- Joe Gata, Monday, February 28, 2005.

* * *

Commodity Prices Rise
to 24-Year High as Demand Grows

By Claudia Carpenter
Bloomberg News Service
Monday, February 28, 2005

William Pesek Jr.: Is Kafka running Korea''s currency policy?


Expert View:
Diversification From the East
Could Send the Dollar South

By Bill Robinson
The Independent, London
Sunday, February 27, 2005

The renewed weakness of the dollar last week may be the beginning of
the end of a set of fundamentally unsustainable arrangements that
have nevertheless proved surprisingly durable because they have
suited all the participants rather well.

The weakness of the dollar is usually blamed on the US twin

James Turk: The truth behind the proposal to sell IMF gold


By William Pesek Jr.
Bloomberg News Service
Friday, February 25, 2005


It's THE question in global currency markets: What force of nature
prompted South Korea suddenly to scrap plans to sell dollars?

On Tuesday, the dollar was plunging amid a comment by Asia's No. 3
economy that it would diversify foreign-exchange reserves into other

Australians fear U.S. financial crash that will depress world economy


8:16p ET Friday, February 25, 2005

Dear Friend of GATA and Gold:

MiningMX has some good stories tonight from
South Africa about Harmony's retreating from
its plans to acquire Gold Fields, DRDGold's
financial trouble, and a report from the World
Jewelry Council about the decline of gold
production to the lowest level in 60 years.
You can find it all here:


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