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Daily Dispatches
Dollar's fall aids London's drive for financial supremacy
Submitted by cpowell on Sat, 2006-12-02 22:40 Section: Daily DispatchesBy David Smith
The Times, London
Sunday, December 3, 2006
http://business.timesonline.co.uk/article/0,,8209-2483663,00.html
The dollar’s fall, which accelerated last week, will further boost the City of London in its battle with New York for supremacy in the financial markets.
London is already the biggest market for foreign exchange, foreign equities, international insurance, and international bank lending. This year it has handled a third more market listings than New York, $40 billion (£20 billion) versus $30 billion.
Market retreat will force shady deals 'out of the woodwork'
Submitted by cpowell on Sat, 2006-12-02 22:29 Section: Daily DispatchesPlunging Dollar Will Set
World Markets Reeling
Heather Stewart
The Observer, London
Sunday, December 3, 2006
http://observer.guardian.co.uk/business/story/0,,1962449,00.html
The slowdown in the US economy, which has sent the dollar into freefall over the past fortnight, will have devastating knock-on effects in markets around the world, analysts warn.
As the US slows and consumers in the world's biggest economy feel the buying power of the dollar in their pocket declining, global growth will be hit hard, economists say. The greenback took yet another turn for the worse on Friday, after a survey of the US manufacturing sector showed output declining for the first time in more than three years.
Aside from France, euro nations don't mind dollar's fall
Submitted by cpowell on Sat, 2006-12-02 13:52 Section: Daily DispatchesDollar Falls Quietly;
Aside from France,
Euro Nations Seem
Little Concerned
By the Associated Press
via Baltimore Sun
Saturday, December 2, 2006
http://www.baltimoresun.com/business/investing/bal-bz.dollar02dec02,0,41...
BERLIN -- With the European economy on the upswing, companies and governments are shrugging off the dollar's renewed slide against the euro this week -- a phenomenon once dreaded as potential poison for the continent's many exporters. Companies appear to have made their peace with a stronger currency for the moment, especially in export champion Germany, which is helped by stronger growth at home, currency hedging, and increasingly globalized production practices.
Volatile dollar may not be scary to Washington
Submitted by cpowell on Sat, 2006-12-02 01:24 Section: Daily DispatchesBy Steven R. Weisman
The New York Times
Friday, December 1, 2006
http://www.nytimes.com/2006/12/02/business/02dollar.html
WASHINGTON, Dec. 1 -- As the dollar tumbled against the euro this week, reflecting fresh concern about a possible weakening of the American economy, Treasury Secretary Henry M. Paulson Jr. issued the usual phrase from the catechism: "A strong dollar is clearly in our nation's best interest."
Fed looks powerless to halt dollar's slide
Submitted by cpowell on Fri, 2006-12-01 21:55 Section: Daily DispatchesBy Steven C. Johnson
Reuters
Friday, December 1, 2006
http://today.reuters.com/news/articleinvesting.aspx?type=hotStocksNews&s...
NEW YORK -- The dollar tumbled against major currencies on Friday en route to a second week of losses, and this time it's going to take more than Federal Reserve warnings about inflation to stop the slide.
Falling dollar means $3 gas again, higher interest rates
Submitted by cpowell on Fri, 2006-12-01 21:42 Section: Daily DispatchesBy Jon Birger
Fortune magazine
via CNNMoney.com
Friday, December 1, 2006
http://money.cnn.com/2006/12/01/news/economy/dollar.fortune/index.htm?se...
Given the sorry state of U.S. manufacturing and the widening trade gap between U.S. and the rest of the world, it's understandable why there's been little hand-wringing over the falling value of the U.S. dollar. Since October, the dollar has fallen 4% against both the euro and the Japanese yen. And this week, the dollar hit the lowest it's been against the euro since March 2005.
Gold ETFs nearly ready to go in India
Submitted by cpowell on Fri, 2006-12-01 00:37 Section: Daily DispatchesIndia's Gold Exchange-Traded Funds in Final Stages
From the Indian Express, Mumbai
Friday, December 1, 2006
http://www.indianexpress.com/story/17646.html
MUMBAI -- After a long wait, investors can now hope to buy and sell gold like shares on the stock exchanges. The Securities and Exchange Board of India (Sebi) is in the final stages of clearing gold exchange-traded funds in India, the largest market for the yellow metal in the world.
GATA makes its case at New York museum's gold exhibition
Submitted by cpowell on Fri, 2006-12-01 00:03 Section: Daily Dispatches11:50p ET Thursday, November 30, 2006
Dear Friend of GATA and Gold:
In connection with the magnificent new exhibition on gold at the American Museum of Natural History in New York City, about which GATA dispatched an Associated Press story to you the other day (http://www.gata.org/node/4511), your secretary/treasurer will speak as part of a panel discussion program at the museum from 7 to 8:30 p.m. on Wednesday, December 6.
Everything is golden on TV tonight
Submitted by cpowell on Thu, 2006-11-30 21:13 Section: Daily Dispatches9:06p ET Thursday, November 30, 2006
Dear Friend of GATA and Gold:
Looks like nearly everything on TV tonight is about gold.
On CBS there's "Survivor." On PBS there's "Mystery." Fox has "Til Death." MyNetworkTV has "Desire." FX is broadcasting the movie "Anger Management." And QVC has "101 Great Jewelry Ideas."
But the big gold (and silver) program is once again on Canada's ROB-TV, which today gave an hour to Sprott Asset Management's chief investment strategist John Embry, who talked about gold and silver, the housing market, and the vulnerability created by the explosion of derivatives. Embry also listed his top three stock picks.
Peter Brimelow: Harry Schultz sees $1,500 gold
Submitted by cpowell on Thu, 2006-11-30 20:37 Section: Daily DispatchesBy Peter Brimelow
CBSMarketWatch.com
Thursday, November 30, 2006
http://www.marketwatch.com/News/Story/Story.aspx?guid={5D7B90DD-2606-4DEC-A866-A428B3F87A9C}&siteid=mktw
NEW YORK -- The North Koreans exploded a nuclear bomb just after I wrote about the International Harry Schultz Letter in October. At the time, veteran editor Harry Schultz warned about an "October Surprise." One of his suggested surprises promptly came true.