Daily Dispatches

Michael Kosares: Japan''s arrow well-aimed at the heart of the dollar

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Press Release via Business Wire
Thursday, March 10, 2005

http://home.businesswire.com/portal/site/google/index.jsp?
ndmViewId=news_view&newsId=20050310005232&newsLang=en

Gold's failure to keep up with exploding commodity prices, as it did
during the last commodities boom in 1980, is more powerful evidence
of surreptitious intervention by central banks in the gold market,

Now Japan''s nervousness about excessive dollar reserves breaks into the open

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By Steve Rothwell and Vivianne C. Rodrigues
Bloomberg News Service
Tuesday, March 8, 2005

http://www.bloomberg.com/apps/news?
pid=10000087&sid=ahi9FM5uTMDA&refer=top_world_news

The euro advanced against the dollar to its highest in two months
after European Central Bank policy maker Nout Wellink suggested to
the Financial Times Deutschland the bank may raise interest rates to

Ted Butler: The coming silver accident

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China Says It Won't Sell Dollars

By Keith Bradsher
The New York Times
Monday, March 7, 2005

http://www.nytimes.com/2005/03/07/business/worldbusiness/07yuan.html

HONG KONG, March 6 -- The Chinese official in charge of his
country's huge foreign currency reserves said over the weekend that
China had no plans to sell dollars, and also ruled out any "large-

Euro reaches 2-month high on suggestion of higher interest rates

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By Craig Wong
Canadian Press
via Canadian Broadcast Corp.
Tuesday, March 8, 2005

http://www.cbc.ca/cp/business/050308/b030860.html

VANCOUVER -- Wheaton River Minerals, which recently approved a $2.4-
billion merger with Goldcorp Inc., plans to remain unhedged and
expects the price of gold to push higher next year, executives said

Undercurrent of dismay in China over accumulation of dollar assets

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By Steve Johnson
Financial Times, London
Monday, March 7, 2005

http://news.ft.com/cms/s/a51f413c-8f3a-11d9-a70f-00000e2511c8.html

The extent to which Indian and Chinese banks are cutting their
exposure to the ailing US dollar was revealed yesterday in data from
the Bank for International Settlements.

The Asian central and commercial banks covered in the BIS data held

Wheaton River to remain unhedged, expects higher gold price next year

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By Ted Butler
InvestmentRarities.com
Tuesday, March 8, 2005

Perhaps "accident" may not be the precise word to describe what I
see coming in silver. After all, Webster's defines accident as
"an unforeseen and unplanned event or circumstance." While that
definition certainly encompasses what I see ahead in the silver
market, I need to add a qualifying adjective to complete my vision.

Euro reaches 2-month high on suggestion of increase in interest rates

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By Steve Rothwell and Vivianne C. Rodrigues
Bloomberg News Service
Tuesday, March 8, 2005

http://www.bloomberg.com/apps/news?
pid=10000087&sid=ahi9FM5uTMDA&refer=top_world_news

The euro advanced against the dollar to its highest in two months
after European Central Bank policy maker Nout Wellink suggested to
the Financial Times Deutschland the bank may raise interest rates to

Indian and Chinese banks pulling out of ailing U.S. dollar

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By Yumi Kuramitsu
Bloomberg News Service
Monday, March 7, 2005

http://www.bloomberg.com/apps/news?
pid=10000087&sid=amFOM5TtQEE4&refer=top_world_news

HONG KONG -- China plans to keep its currency pegged to the U.S.
dollar for "a relatively long time" as the country faces less
pressure to let the currency rise because the government is taking

Bank of Japan will keep easy monetary policy

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From Reuters
Sunday, March 6, 2005

http://www.reuters.co.uk/newsArticle.jhtml?
type=topNews&storyID=7818513

BASEL, Switzerland -- Asian banks have reduced the share of deposits
held in U.S. dollars in favour of other currencies like the euro,
according to new central bank data released on Sunday.

The share of U.S.-dollar-denominated deposits placed with Asian

Doug Casey: Iran is next U.S. target because of its plan to price oil in euros

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China Will Not Adjust Dollar Assets
in Forex Holdings, Report Says

From AFX News, London
FXStreet.com
Sunday, March 6, 2005

http://www.fxstreet.com/nou/noticies/afx/noticia.asp?
pv_noticia=1110091907-d8260f08-01693

BEIJING -- China will not adjust the proportion of US dollar
assets in its foreign exchange portfolio despite possible

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