Daily Dispatches

Don't let Barrick steal NovaGold to feed the gold suppression scheme


Who Ya Gonna Call ... Ghostbusters?
No -- Goldbusters!

By Bill Murphy, Chairman
Gold Anti-Trust Action Committee Inc.
Wednesday, August 9, 2006

I could not resist that title, one based on the Bill Murray (not to be confused with Bill Murphy) movie "Ghostbusters," for an obvious reason now to be explained -- along with my sudden trip to Vancouver.

Last evening I had the pleasure of having dinner with Rick Van Nieuwenhuyse, president and CEO of NovaGold Resources. As most of must know, Nova is suddenly fighting a hostile takeover bid from Barrick Gold.

Ted Butler: A blind man's world


10:24p ET Tuesday, August 8, 2006

Dear Friend of GATA and Gold:

Silver market analyst and GATA consultant Ted Butler has written what may be his most profound commentary, arguing that the world has never seen a free market in silver but that the current price manipulation, a result of the long dishoarding of silver by
governments that formerly used it for coinage, is sure to fail, and probably soon.

Buffett's timing was off in strategy on dollar


And people complain that Bill Murphy
is always bullish on gold and silver!

* * *

By George Stein and Josh P. Hamilton
Bloomberg News Service
via International Herald Tribune, Paris
Monday, August 7, 2006


The billionaire investor Warren Buffett, stung by $955 million in losses from foreign-currency investments in 2005, cut his bet against the U.S. dollar this year, just before its steepest decline in 18 months.

GoldSeek radio interviews GATA Secretary/Treasurer Chris Powell


4:16p ET Monday, August 7, 2006

Dear Friend of GATA and Gold:

Your secretary/treasurer recently was interviewed by GoldSeek.com Internet radio about the gold price suppression scheme. He attempted to explain how the scheme is not the fevered concoction of conspiracy nuts but a matter of ordinary public record and admission. Unfortunately on the day of the interview he had a terrible cough and so must have put the GoldSeek people through a lot of trouble in the tape editing. If you're up to the challenge of listening, you can find the interview here:

AngloGold Ashanti leaving more of its production unhedged


From Engineering News, South Africa
Monday, August 7, 2006


World No. 3 gold miner AngloGold Ashanti Ltd. said on Monday it was leaving an increasing amount of its production unhedged to take advantage of soaring gold prices.

The company had left 87% of this year's production unhedged, up from 75% the previous year, said Richard Duffy, executive officer of business development.

Barrick's bid for NovaGold: Deal of the century?


12:19p ET Monday, August 7, 2006

Dear Friend of GATA and Gold:

NovaGold shareholder Alan Leishman has written a detailed analysis of Barrick Gold's offer to acquire NovaGold. He concludes that the acquisition at the offered price would be "the deal of the century" for Barrick, helping Barrick to reduce its huge hedge book at a bargain price. You can find Leishman's analysis, "Barrick's Bid for NovaGold: Deal of the Century?," at Resource Investor here:

NovaGold may be the next battlefield in the gold war


1:56a ET Monday, August 7, 2006

Dear Friend of GATA and Gold:

Bob Moriarty of 321Gold has written a wonderful analysis of Barrick Gold's attempt to take over NovaGold. He argues that Barrick is bankrupt if its hedge book is ever factored into the company's net worth and that NovaGold is worth far more than what Barrick has offered.

Moriarty's analysis is titled "Is Barrick Trying to Turn a Silk Purse into a Sow's Ear?" and you can find it here:

Peter Brimelow: Questions about gold market manipulation and missing M3 figures


By Peter Brimelow
Monday, August 7, 2006


NEW YORK -- On Wednesday I received Harry Schultz's latest Gold Charts R Us communication, (itself an object lesson about the alacrity with which some of the truly veteran newsletter writers (like Richard Russell) have adapted to the Internet.

Add them or cut them off at will: Zeroes are a central bank's best friend


Zimbabwe's Monetary Reforms Disparaged as 'Cosmetic'

By Fanuel Jongwe
Agence France-Presse
Sunday, August 6, 2006


HARARE, Zimbabwe -- Zimbabweans last week flooded banks to hand in old notes after the central bank slashed three zeroes from the local currency, but analysts said the new money would not provide relief from record inflation.

Pipeline corrosion and spill close Alaska's Prudhoe Bay oil field


By The Associated Press
Sunday, August 6, 2006


ANCHORAGE, Alaska -- BP Exploration Alaska Inc. began shutting down the Prudhoe Bay oil field Sunday after discovering unexpectedly severe corrosion and a small spill from a transit pipeline.

Prudhoe Bay represents about half of Alaska's oil production and about 8 percent of U.S. production, according to the U.S. Energy Information Administration.

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