Daily Dispatches

Richard J. Greene: Don't trust gold and silver ETFs to have any metal

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9:28p ET Thursday, January 24, 2008

Dear Friend of GATA and Gold:

Richard J. Greene, managing partner of Thunder Capital Management in Clearwater, Florida, expresses skepticism of the gold and silver exchange-traded funds in his new essay, "Gold and Silver ETFs' Disparities with Gold Price Mean Higher Risk." You can find it at Market Oracle here:

John Crudele: You should be wary of this market rebound

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By John Crudele
New York Post
Thursday, January 24, 2008

http://www.nypost.com/seven/01242008/business/you_should_be_wary_of_this...

It's a miracle -- two days in a row.

The stock market was going to hell again yesterday when suddenly -- out of a cloud of dust and a hearty hi-ho, Silver -- someone came to the rescue.

European Central bank deeply split on immediate rate cut

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Fed move sparks ECB dilemma

By Ambrose Evans-Pritchard
The Telegraph, London
Friday, January 25, 2008

DAVOS, Switzerland -- A serious conflict at the European Central Bank has broken into the open after Spain's finance minister revealed that a number of board members are pushing for an immediate rate cut in light of the emergency action by the US Federal Reserve week.

Did Societe Generale trades trigger market rout, Fed cut?

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By Sitaraman Shankar and Blaise Robinson
Reuters
Thursday, January 24, 2008

http://www.reuters.com/article/newsOne/idUSL2455504620080124

Societe Generale's shock disclosure of a fraud that lost it $7 billion has left investors wondering about a link between the fiasco and Monday's European stock market rout.

Helicopter money could reach U.S. households by May

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Tax Rebate Deal Could Mean Checks By May

By Andrew Taylor and Julie Hirschfeld Davis
Associated Press
via Yahoo News
Thursday, January 24, 2008

http://news.yahoo.com/s/ap/20080124/ap_on_go_co/economy_stimulus;_ylt=Ar...
HBRDwGvY3r4Yys0NUE

Just another day with the big banks

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Societe Generale Uncovers Massive Fraud

By Emma Vandore
Associated Press
via Yahoo News
Thursday, January 24, 2008

http://news.yahoo.com/s/ap/20080124/ap_on_bi_ge/france_societe_generale_...

Regulators coerce big banks to bail out bond insurers

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Banks Pressed to Bail Out Bond Insurers

By Ben White and Aline Van Duyn
Financial Times, London
Thursday, January 24, 2008

http://www.ft.com/cms/s/0/ac60d522-ca20-11dc-b5dc-000077b07658.html

Where were these worthies when everybody was making magic money?

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Fingers Pointed at the Federal Reserve

By Gary Duncan
The Times, London
Wednesday, January 23, 2008

http://business.timesonline.co.uk/tol/business/economics/wef/article3241...

Sovereign wealth funds seen saving U.S., U.K. 'financial structure'

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That is, government of, by, and for the bankers.

* * *

Citi Banker Defends Sovereign Wealth Funds

By Edmund Conway
The Telegraph, London
Thursday, January 24, 2008

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/01/24/cnweal...

Sovereign wealth funds are the effective saviours of Wall Street and the City, a leading Citigroup banker has acknowledged.

Rick Ackerman: PPT emerges from the shadows

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12:17a ET Thursday, January 24, 2008

Dear Friend of GATA and Gold:

Rick Ackerman comments scornfully on the most brazen and obvious market intervention yet by the Plunge Protection Team. His essay is headlined "PPT Emerges from the Shadows" and you can find it at GoldSeek here:

http://news.goldseek.com/RickAckerman/1201071660.php

CHRIS POWELL, Secretary/Treasurer

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