Daily Dispatches

China OKs domestic spending boost; Europe plans more rate cuts

Submitted by cpowell on Sun, 2008-11-09 11:26 Section: Daily Dispatches

By Kirby Chien and Anna Willard
Reuters
Sunday, November 9, 2008

http://www.reuters.com/article/newsOne/idUSTRE49N5VU20081109

China approved on Sunday a massive stimulus plan worth nearly $600 billion through 2010 to boost domestic demand as part of a global push for measures to soften an expected recession in many countries.

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Gold seen outperforming oil as recession brews

Submitted by cpowell on Fri, 2008-11-07 16:41 Section: Daily Dispatches

By Frank Tang
Reuters
Friday, November 7, 2008

http://www.reuters.com/article/GCA-Oil/idUSTRE4A66V420081107

NEW YORK -- The price of gold has not fallen as sharply as the price of crude oil and other cyclical commodities during the global financial crisis, and bullion should strengthen relative to other commodities as economic troubles deepen.

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What if every Chinese got his own Treasury bond to spend?

Submitted by cpowell on Fri, 2008-11-07 16:36 Section: Daily Dispatches

China May Launch Economic Stimulus Package

From Reuters
Friday, November 7, 2008

http://www.reuters.com/article/ousiv/idUSTRE4A66TS20081107

BEIJING -- Evidence is mounting that China might launch a massive economic stimulus package in the near future as worries over a sharp slowdown in the world's fourth-largest economy intensify, officials said on Friday.

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News agency sues Fed for look at collateral for loans to banks

Submitted by cpowell on Fri, 2008-11-07 15:51 Section: Daily Dispatches

By Mark Pittman
Bloomberg News
Friday, November 7, 2008

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aKr.oY2YKc2g

NEW YORK -- Bloomberg News asked a U.S. court today to force the Federal Reserve to disclose securities the central bank is accepting on behalf of American taxpayers as collateral for $1.5 trillion of loans to banks.

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Zero-interest world may lie ahead

Submitted by cpowell on Fri, 2008-11-07 14:45 Section: Daily Dispatches

By Simon Kennedy and Craig Torres
Bloomberg News
Friday, November 7, 2008

http://www.bloomberg.com/apps/news?pid=20601109&sid=ayE0YPzpdD38&refer=home

The age of free money may be at hand.

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Timing the next rush to gold

Submitted by cpowell on Fri, 2008-11-07 12:27 Section: Daily Dispatches

By Conrad de Aenlle
International Herald Tribune, Paris
Friday, November 7, 2008

http://www.iht.com/articles/2008/11/07/yourmoney/mgold.php

When there seems to be nowhere to turn, investors often turn to gold. The unprecedented volatility in stocks and uncertainty about the world economy and financial system should make this an ideal time to own gold.

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Another large decline in gold hedging

Submitted by cpowell on Fri, 2008-11-07 08:37 Section: Daily Dispatches

By Nicholas Larkin
Bloomberg News
Friday, November 7, 2008

http://www.bloomberg.com/apps/news?pid=20601116&sid=aaMpDG7Hzo3g

LONDON -- Gold miners reduced forward sales contracts by 2.3 million ounces in the third quarter to 16.5 million ounces, London-based researcher VM Group said.