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Daily Dispatches
John Embry: 'Sovereign wealth' funds will support gold
Submitted by cpowell on Fri, 2007-07-13 15:56 Section: Daily Dispatches3:55p ET Friday, July 13, 2007
Dear Friend of GATA and Gold:
Sprott Asset Management's chief investment strategist, John Embry, predicts in an essay in Investor's Digest of Canada that the new "sovereign wealth" funds of countries with lots of dollars sloshing around will come to support the gold price. Embry's essay can be found at the Sprott Internet site here:
Spain seizes U.S. treasure-hunting boat off Gibraltar
Submitted by cpowell on Fri, 2007-07-13 00:54 Section: Daily DispatchesBy Brian Reyes
Reuters
Thursday, July 12, 2007
http://www.reuters.com/article/worldNews/idUSL1259580220070712
GIBRALTAR -- Spanish police boarded an American treasure-hunting ship on Thursday that Madrid believes may have taken gold and silver worth millions from a sunken Spanish galleon.
Qatar's gold reserves up 1,500% in year
Submitted by cpowell on Fri, 2007-07-13 00:48 Section: Daily DispatchesFrom Qatar News Agency
via The Peninsula, Doha, Qatar
Friday, July 13, 2007
http://www.thepeninsulaqatar.com/Display_news.asp?section=Local_News&mon...
DUBAI, United Arab Emirates -- Qatar Central Bank gold holdings more than quadrupled between January and the end of April, data on the central bank's website showed yesterday.
Kuwait again lets dinar rise to reflect dollar's decline
Submitted by cpowell on Fri, 2007-07-13 00:43 Section: Daily DispatchesFrom Reuters
via Daily Times, Lahore, Pakistan
Friday, July 13, 2007
http://www.dailytimes.com.pk/default.asp?page=2007%5C07%5C13%5Cstory_13-...
DUBAI -- Kuwait allowed its dinar to appreciate against the dollar for a second time this year after the US currency's slide raised pressure on pegged exchange rates throughout the world's biggest oil-exporting region.
Class action charges Amaranth, Morgan with manipulating natgas
Submitted by cpowell on Thu, 2007-07-12 23:50 Section: Daily DispatchesFrom Reuters
Thursday, July 12, 2007
http://www.reuters.com/article/governmentFilingsNews/idUSN1236935120070712
NEW YORK -- A trader sued Amaranth Advisors LLC on Thursday, alleging that he lost money because the hedge fund that collapsed last year after $6 billion in losses manipulated natural gas prices.
Historic Bolivian silver mine at risk of collapse
Submitted by cpowell on Thu, 2007-07-12 13:47 Section: Daily DispatchesBy Monica Machicao
Reuters
Thursday, July 12, 2007
http://www.reuters.com/article/inDepthNews/idUSN2724749020070712
POTOSI, Bolivia -- High silver prices are drawing a frenzy of miners to a colonial-era mine at Potosi in Bolivia, but the mine has become so dangerous that authorities fear the mine, part of a World Heritage Site, could collapse.
James Turk: Bernanke explains why Fed must rig gold price
Submitted by cpowell on Thu, 2007-07-12 13:40 Section: Daily Dispatches1:34p ET Thursday, July 12, 2007
Dear Friend of GATA and Gold:
Australian hedge fund warns about withdrawals
Submitted by cpowell on Wed, 2007-07-11 20:00 Section: Daily DispatchesBy James Mackintosh
Financial Times, London
Wednesday, July 11, 2007
http://www.ft.com/cms/s/e839b922-2fdb-11dc-a68f-0000779fd2ac.html
An Australian hedge fund manager with almost $1 billion in junk-rated loans and troubled structured credits warned investors on Wednesday that it could restrict withdrawals to ensure its survival as it reported losses of 14 percent in one fund in June.
Russians trading dollars for their country's own currency
Submitted by cpowell on Wed, 2007-07-11 19:43 Section: Daily DispatchesBy Peter Fedynsky
Voice of America
Wednesday, July 11, 2007
http://www.voanews.com/english/2007-07-11-voa40.cfm
MOSCOW -- New figures released by the Russian Central Bank indicate that the amount of U.S. dollars held by private Russian citizens has dropped since 2002 from $35 billion to less than $12 billion as of July 1.
National Public Radio cites digital gold currency
Submitted by cpowell on Wed, 2007-07-11 19:35 Section: Daily Dispatches7:34p ET Wednesday, July 11, 2007
Dear Friend of GATA and Gold:
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