Daily Dispatches

U.S. dollar still goes far ... filling wheelbarrows in Zimbabwe

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Zimbabwe Currency Tumbles
to Record 25 Million to US$1

By Angus Shaw
Associated Press
via Yahoo News
Wednesday, March 5, 2008

http://biz.yahoo.com/ap/080305/zimbabwe_money.html?.v=1

HARARE, Zimbabwe -- The Zimbabwe currency tumbled to a record low of 25 million for a single U.S. dollar Wednesday, currency dealers said.

Citigroup and other banks seen needing more Arab capital

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By Will McSheehy and Matthew Brown
Bloomberg News Service
Tuesday, March 4, 2008

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aNX6cgef1EvM

DUBAI -- Banks and securities firms led by Citigroup Inc. may need more money from Arab states as losses stemming from the collapse of the U.S. subprime mortgage market increase, the head of Dubai International Capital said.

Euro bond spreads hit record as panic grips markets

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By Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, March 5, 2008

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/05/cnbond...

Investors sold Italian and Greek debt yesterday in signs of near panic liquidation, driving bond spreads to the highest level since creation of the single currency.

Ron Paul easily wins Republican renomination to Congress

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By The Associated Press
via Killeen (Texas) Daily Herald
Tuesday, March 4, 2008

http://www.kdhnews.com/news/story.aspx?s=23564

DALLAS -- Republican Ron Paul didn't get many votes for president in his home state, but he easily won the primary nomination for his congressional seat.

Ted Butler: Gold and silver shorts are up against the wall

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4:15p ET Tuesday, March 4, 2008

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler isn't ready to declare the gold and silver shorts beaten but he calculates that they have lost billions in recent weeks and are now "Up Against the Wall," the headline on his new commentary, which you can find at GoldSeek's companion site, SilverSeek, here:

Even thousand-dollar gold won't boost supply soon

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By Eric Onstad
Reuters
Tuesday, March 4, 2008

http://www.reuters.com/article/hotStocksNews/idUSL0475144320080304

LONDON -- A jump in the gold price over the magical $1,000 per ounce level would not be enough to bring on a surge of new production due to uncertainty over long-term prices, logistics problems, and scarcity of projects.

Canada follows U.S. in cutting interest rates

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Canadian Dollar Falls
As Bank Reduces Rate,
Signals It's Not Done

http://www.bloomberg.com/apps/news?pid=20601082&sid=at4TCoGfb9M4

By Haris Anwar
Bloomberg News Service
Tuesday, March 4, 2008

Who wants to own the Bank of England and JPMorganChase?

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Or is running a gold cartel above the law?

* * *

Cash Reward for Cartel Tip-Offs

From the British Broadcasting Co.
Friday, February 29, 2008

http://news.bbc.co.uk/1/hi/business/7271001.stm

LONDON -- The Office of Fair Trading (OFT) is to pay up to L100,000 for tip-offs leading to action against price fixing and other anti-competitive behaviour.

Japan may move to support tumbling dollar

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By Ambrose Evans-Pritchard
The Telegraph, London
Tuesday, March 4, 2008

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/03/ccjapa...

Pressure is building in Japan for official intervention to cap the surging yen before it triggers a sharp industrial slowdown and tips the country back into slump.

ECB chief prods U.S. about 'strong dollar' and Paulson duly squeaks up

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Trichet, Juncker Signal Euro/Dollar Concern

By Huw Jones and Swaha Pattanaik
Reuters
via The Guardian, London
Monday, March 3, 2008

http://www.guardian.co.uk/feedarticle?id=7354214

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