Daily Dispatches

In emirates, people are buying gold 'as if it's free'

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Mad Rush for Gold as Prices Dip

By Anwar Ahmad
Khaleej Times, Dubai
Monday, September 15, 2008

http://www.khaleejtimes.com/DisplayArticleNew.asp?section=theuae&xfile=d...

Central banks open up spigots in bid to ease fears

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By Joellen Perry and Alistair MacDonald
The Wall Street Journal
Tuesday, September 16, 2008

http://online.wsj.com/article/SB122146752303935835.html

Central banks around the world pumped cash into money markets Monday as the toppling of Wall Street titans sent shock waves across the globe.

J.S. Kim: The law of supply and demand is dead for gold and silver

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5p ET Monday, September 15, 2008

Dear Friend of GATA and Gold:

Investment and market analyst J.S. Kim takes note of all the increasingly anomalous behavior in the gold and silver markets in his new essay at Seeking Alpha, "The Law of Supply and Demand Is Dead for Gold and Silver," which you can find here:

Fed urging Morgan, Goldman to lend AIG $70 billion

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By Joseph A. Giannone
Reuters
Monday, September 15, 2008

http://www.reuters.com/article/marketsNews/idINWEN809420080915?rpc=44

NEW YORK -- The Federal Reserve has asked JPMorgan Chase and Goldman Sachs to explore arranging $70 billion to $75 billion in loans to support insurer American International Group, among other financing options, a person familiar with the situation said.

AIG seeks $40 billion loan from Fed

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By Andrew Ross Sorkin and Michael J. de la Merced
The New York Times
Sunday, September 14, 2008

http://dealbook.blogs.nytimes.com/2008/09/14/aig-seeks-fed-aid-to-surviv...

Banks announce $70 billion loan program

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By Joe Bel Bruno
Associated Press
via Yahoo News
Sunday, September 14, 2008

http://news.yahoo.com/s/ap/20080915/ap_on_bi_ge/banks_plan;_ylt=AgsxxDBU...

NEW YORK -- A group of global banks and securities firms announced late Sunday a $70 billion loan program that financial companies can tap to help ease a credit shortage that threatens global financial markets.

Wall Street starts cannibalizing itself -- delicious!

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Banks Fear Next Move by Shorts

By Louise Story
The New York Times
Monday, September 15, 2008

http://www.nytimes.com/2008/09/15/business/15short.html

Bernanke launches the money copters to Wall Street

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Wall Street Banks Fight for Life

By Francesco Guerrera, Krishna Guha, and Greg Farrell
Financial Times, London
Monday, September 15, 2008

Wall Street was in turmoil on Sunday as Merrill Lynch found shelter in a $35 billion-plus takeover by Bank of America and Lehman Brothers headed towards filing for bankruptcy.

Fed lowers standards for collateral from primary dealers

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Federal Reserve Board Announces Several Initiatives to Provide Additional Support to Financial Markets, Including Enhancements to Its Existing Liquidity Facilities

Federal Reserve Board Press Release
Sunday night, September 14, 2008

http://www.federalreserve.gov/newsevents/press/monetary/20080914a.htm

World banks planning $50 billion emergency loan pool

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By Joe Bel Bruno and Martin Crutsinger
Associated Press
via Yahoo News
Sunday, September 14, 2008

http://news.yahoo.com/s/ap/lehman_brothers;_ylt=AnXqZYw5O3Q9c_a2GACblmes...

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