Daily Dispatches

Bloomberg story finds many establishment advisers favorable to gold


11:29p ET Sunday, December 10, 2006

Dear Friend of GATA and Gold:

The Bloomberg story appended here is a bit surprising for being so favorable to gold and candidly laying out the role of central banks in supplying the market amid diminishing mine production. Too many establishment people are quoted here, along with GATA's friend Frank Holmes, for it to be completely disinformation. Maybe the word is getting around.

China trip is meant to coordinate dollar devaluation, economist says


U.S. Dollar Facing
Imminent Collapse?

Jerome R. Corsi
Sunday, December 10, 2006


Even as the stock market is hitting new record highs almost every day, the Federal Reserve and Treasury Department are quietly coordinating a devaluation of the dollar that the Bush administration hopes will be a slow decline rather than a dollar collapse.

Goldman hires Amaranth traders


Goldman Hires Amaranth Team
As the Street Woos Hedge Funds

By Henny Sender
The Wall Street Journal
Saturday, December 9, 2006

In another sign of Wall Street's intense interest in hedge funds, brokerage firm Goldman Sachs Group Inc. is hiring 17 members of the team that traded credit for the now-defunct Amaranth Advisors LLC, according to people familiar with the matter.

The group will become part of the alternative-asset-management business at Goldman Sachs Asset Management, which houses the Wall Street firm's hedge-fund investments and has $139 billion of its $629 billion in total assets under management.

Oil producers shifting out of dollar


By Haig Simonian, Javier Blas, and Carola Hoyos
Financial Times, London
Sunday, December 10, 2006


Oil-producing countries have reduced their exposure to the dollar to the lowest level in two years and shifted oil income into euros, yen, and sterling, according to new data from the Bank for International Settlements.

Iran's parliament said to favor switching from dollars to euros


From Islamic Republic News Agency
Saturday, December 9, 2006


The Islamic Consultative Assembly (Majlis) is agreable to replacing the US dollar with the euro in Iranian foreign transactions, a member of the Majlis Planning and Budget Commission, Morteza Tamaddon, said Saturday.

Speaking to IRNA, the MP said the move is part of Iran's general policy toward the West, as dependence on the US currency would have negative consequences for Iran in the long term.

Dollar may rise even as U.S. economy weakens, research firm says


Dollar may gain even with US hard landing: Lombard

By Steven C. Johnson
Friday, December 8, 2006


NEW YORK -- The dollar will rise in 2007 even as the U.S. economy slows sharply, a top U.K. research firm said on Friday, as Asian central banks continue buying greenbacks to keep their currencies down and their exports competitive.

Islamic derivatives: What would Mohammad do?


Commodities and Islam
the Start of Something Big

By Mark Bendeich
Friday, December 8, 2006


KUALA LUMPUR, Malaysia -- Global trade in commodities is booming, and not just because China is hungry for resources. Pious Muslims, too, are keeping commodity markets busy.

Leading Asian economist urges joint action on dollar


12:32p ET Friday, Decmeber 8, 2006

Dear Friend of GATA and Gold:

An abbreviated version of the story appended here was dispatched to you a few hours ago and it was without full attribution to The New York Times.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Leading Asian Economist
Urges Joint Action on Dollar

By Keith Bradsher
The New York Times

In glitter and glory, the Rock of All Ages


11:20p ET Thursday, December 7, 2006

Dear Friend of GATA and Gold:

Your secretary/treasurer yesterday got to spend a little time -- not a tenth as much as he would have liked -- at the exhibition on gold that has just opened at the American Museum of Natural History in New York City. It is goldbug heaven, but, much more than that, it convincingly demonstrates gold's enduring and unique utility and power. If you're in the New York area, it shouldn't be missed. If you're not in the New York area, it is well worth a trip, considering that you have until August to see it.

Gold is magnificent at the museum but it is no museum piece


Remarks by Chris Powell
Gold Anti-Trust Action Committee Inc.

Educators' Evening -- Gold Exhibition
American Museum of Natural History
79th Street at Central Park West
New York, New York
Wednesday, December 6, 2006

Syndicate content