Daily Dispatches

Bloomberg columnist may not know as much about gold as he thinks

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8:38p ET Sunday, February 11, 2007

Dear Friend of GATA and Gold:

The satirical column by Bloomberg News Service's Mark Gilbert, appended here, may be important mainly for showing that Bloomberg has heard vaguely of complaints about manipulation of the gold market, which may be a start. Your secretary/treasurer has written to Gilbert tonight with a request that he look into the issue a little more. That appeal is appended as well.

MorganChase executive considered for Treasury's international job

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From Reuters
via Yahoo News
Friday, February 9, 2007

http://news.yahoo.com/s/nm/20070209/bs_nm/usa_economy_treasury_ryan_dc;_...

The Bush administration is considering T. Timothy Ryan, a former top financial regulator who is now with JPMorgan Chase, to become Treasury's point person on international affairs, two sources familiar with the matter said on Friday.

Qatar will keep riyal's peg to dollar

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http://www.gulfnews.com/business/Commerce/10103644.html

From Reuters
via Gulf News, Dubai
Monday, February 12, 2007

DOHA, Qatar -- Qatar will not change the riyal's peg to the falling US dollar and sees property prices rather than import costs as the main driver of inflation, the finance minister said yesterday.

Qatar, Saudi Arabia, and four other Gulf Arab states have pegged exchange rates to the dollar to prepare for monetary union in the world's biggest oil-exporting region.

G7 asks finance ministers to talk with hedge fund managers

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By Bertrand Benoit and Ralph Atkins
Financial Times, London
via Yahoo News
Sunday, February 11, 2007

http://news.yahoo.com/s/ft/20070211/bs_ft/fto021120071135464206

ESSEN, Germany -- Fast growth in the global hedge fund industry requires a "vigilant" stance by governments and central banks, the G7 summit in Essen concluded.

Germany won support -- including from the US and UK -- at the summit for a package of proposals intended to encourage greater transparency in the trillion-dollar hedge fund industry, without calling into question its economic benefits. "Whenever something is growing as quickly as this, it bears looking at," said Hank Paulson, US treasury secretary.

Markets can handle hedge funds by themselves, treasury secretary tells G7

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By The Associated Press
via Yahoo News
Saturday, February 10, 2007

http://news.yahoo.com/s/nm/20070210/bs_nm/g7_usa_dc;_ylt=At5TkVdDjIVh0jE...

ESSEN, Germany -- U.S. Treasury Secretary Henry Paulson made clear on Saturday that he thinks any risks posed by lightly regulated hedge funds can be handled through market discipline without adding heavy government regulators.

"Market discipline, focusing on the risk management of regulated counterparties, is the most effective way to address potential systemic risk concerns," Paulson told a news conference at the close of a two-day Group of Seven finance minister's meeting in the German industrial city of Essen.

How to profit most from $1,000 gold: juniors and self-publicists

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From AMEInfo.com, Dubai
Sunday, February 11, 2007

http://www.ameinfo.com/110276.html

Whether the International Monetary fund recasts its rulebook against the manipulation of the gold market by central banks, or Chinese and speculative buyers push up the price from $666 an ounce at the close last week, there is an emerging consensus that $1,000 is a reasonable target for the yellow metal. Leveraging off this trend then ought then to be a friend indeed.

G-7 presses China on yuan flexibility, wants hedge funds watched

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By Matt Moore
Associated Press
via Yahoo News
Saturday, February 10, 2007

http://news.yahoo.com/s/ap/20070210/ap_on_bi_ge/germany_g7

ESSEN, Germany -- China came under renewed pressure Saturday from the Group of Seven to make its yuan more flexible, while Japan emerged from the meeting without a public scolding, despite criticism beforehand that its weakened yen was hurting other economies.

South African president pledges to hasten land redistribution

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By Paul Simao
Reuters
via Yahoo News
Friday, February 9, 2007

http://news.yahoo.com/s/nm/20070209/wl_nm/safrica_mbeki_dc

CAPE TOWN, South Africa -- President Thabo Mbeki on Friday pledged to tackle poverty and crime and speed up land redistribution to blacks, signaling a new interventionist approach in fighting South Africa's glaring social ills.

In a speech marking the opening of parliament in Cape Town, Mbeki acknowledged the government needed to do more to help millions of unemployed, poor and landless South Africans living on the sidelines of the country's fast-growing economy.

Fed Reserve's Bies, policy centrist, to step down March 30

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By David Lawder
Reuters
via Yahoo News
Friday, February 9, 2007

http://news.yahoo.com/s/nm/20070209/bs_nm/usa_fed_bies_dc

U.S. Federal Reserve Governor Susan Bies, a banking expert and monetary-policy centrist, will step down on March 30, the central bank said on Friday, marking the third top Fed official to announce a departure this year.

Bies, who has been a member of the Fed's Board of Governors since December 2001, does not plan to attend the March 20-21 meeting of the Federal Open Market Committee, the Fed said -- a customary practice for departing Fed board members.

Miners are dangerous foes for Bolivia's president

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By Eduardo Garcia
Reuters
via Yahoo News
Friday, February 9, 2007

http://news.yahoo.com/s/nm/20070209/lf_nm/bolivia_miners_dc_1

Roger Mamani rides a rickety elevator deep underground, hikes through flooded tunnels and crawls through a maze of muddy burrows to dig silver ore at the San Jose mine in Bolivia's Andes.

As the 22-year-old crouches and breaks rock with a pickaxe, two fellow miners roll up dynamite in sheets of used notebook paper. They have two minutes to run to safety before a blast shakes tunnels propped up by splintered beams.

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