Daily Dispatches

Foreign treasuries just starting to notice U.S. debt catastrophe

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Steps Taken to Calm Investor Fears Over Agency Debt

By Jamil Anderlini, Charles Clover, Krishna Guha, Kathrin Hille, Song Jung-a, Michiyo Nakamoto, James Politi, Saskia Scholtes, and Henny Sender
Financial Times, London
Thursday, July 24, 2008

http://www.ft.com/cms/s/0/1abb233e-5918-11dd-a093-000077b07658.html

Hey, CFTC, ever hear of gold, silver, and JPMorganChase?

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This enforcement action isn't even chicken feed -- allegedly only a million dollars in improper profits. The billions stolen by manipulation in the gold and silver markets, while fully reported to the CFTC, remain unnoticed officially.

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Fund Accused of Manipulating Oil Price

By Joanna Chung
Financial Times, London
Thursday, July 24, 2008

You want gold with that?

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Changes Ahead for McDonald's Dollar Menu

By Mike Hughlett
Chicago Tribune
Thursday, July 24, 2008

http://www.chicagotribune.com/business/chi-thu-mcdonalds-earnings-jul24,...

McDonald's Corp. blew past Wall Street's profit expectations and posted a strong second quarter Wednesday, despite weak consumer confidence and soaring commodity costs.

Ron Paul discloses housing bailout bill's money and power grab

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2:11a ET Thursday, July 24, 2008

Dear Friend of GATA and Gold:

In a videotaped statement Wednesday, U.S. Rep. Ron Paul, R-Texas, disclosed some shocking details of the housing bailout legislation being rushed through Congress:

More than G7, G20 now may be needed for dollar propping

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In Foreign Exchange Casino, Don't Bet Against Central Banks

By Jamie McGeever
Reuters
Wednesday, July 23, 2008

http://www.reuters.com/article/ousivMolt/idUSL23102197020080723?sp=true

LONDON -- The global foreign exchanges may now be a $3.2 trillion-a-day behemoth but one maxim still holds true: Ignore concerted central bank intervention at your peril.

Rescue for Fannie, Freddie may cost trillion, senator says

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By Michael McKee and Bryan Keogh
Bloomberg News Service
Wednesday, July 23, 2008

http://www.bloomberg.com/apps/news?pid=20601087&sid=aJ_PxvWbq4z0&refer=h...

A government rescue of Fannie Mae and Freddie Mac would require taxpayers to pay "way" more than the $25 billion estimated by the Congressional Budget Office, potentially as much as $1 trillion, U.S. Sen. Jim Bunning said.

Truth about Wall Street briefly escapes president's lips

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Bush Says Wall Street 'Got Drunk'

By Stephanie Kirchgaessner
Financial Times, London
Wednesday, July 23, 2008

http://www.ft.com/cms/s/0/ceb6551a-584c-11dd-b02f-000077b07658.html?ncli...

President George W. Bush said Wall Street had "got drunk" and was experiencing a hangover at a recent closed-door fundraiser in Houston in which he also made light of the US housing crisis.

James Turk: Last plane account

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11p ET Tuesday, July 22, 2008

Dear Friend of GATA and Gold:

John Embry: The more talk of 'strong dollar,' the less action

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10:45p ET Tuesday, July 22, 2008

Dear Friend of GATA and Gold:

Internet currency firm E-Gold pleads guilty to money laundering

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By Grant Gross
IDG News Service
via PC World magazine
Monday, July 21, 2008

http://www.pcworld.com/businesscenter/article/148720/internet_currency_f...

E-Gold, an Internet-based payment service, and three owners have pleaded guilty to criminal charges related to money laundering, the U.S. Department of Justice said Monday.

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