Daily Dispatches

Comex said warning brokers about December gold squeeze

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From "Midas" Commentary
by Bill Murphy
LeMetropoleCafe.com
Friday, December 12, 2008

I received a call this morning from a commodities broker who told me that the Comex is alerting various futures firms about the potential of a squeeze on the December contract and is advising the $840 December shorts to exit their positions. That is the remaining open position.

Former Fed governor hints at big upward revaluation of gold

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9:21p ET Friday, December 12, 2008

Dear Friend of GATA and Gold:

Interviewed Monday this week on the "Trading Day" program of Business News Network in Canada, former Federal Reserve Governor Lyle Gramley hinted that a big upward revaluation of gold may figure heavily in the Fed's attempt to rescue the U.S. economy.

Germany's bank bailout has failed, MPs say

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By Bertrand Benoit and James Wilson
Financial Times, London
Friday, December 12, 2008

http://www.ft.com/cms/s/0/f9569418-c84c-11dd-b86f-000077b07658.html

Germany's banking sector rescue has failed and should be modified urgently if lasting damage to the economy is to be avoided, the MPs who oversee the E500 billion ($668 billion, L449 billion) of funds warned on Friday.

Fed refuses to disclose recipients of $2 trillion

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5p ET Friday, December 12, 2008

Dear Friend of GATA and Gold:

Silver investigation: CFTC does U-turn

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4:36p ET Friday, December 12, 2008

Dear Friend of GATA and Gold:

Rob Mackinlay of Investegate has examined the latest and perhaps more serious review by the U.S. Commodity Futures Trading Commission of complaints of manipulation of the silver market. Mackinlay's report is headlined "Silver Investigation: CFTC Does U-Turn" and you can find it here:

James Turk: More on gold backwardation

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4:27p ET Friday, December 12, 2008

Dear Friend of GATA and Gold:

Swiss may have to print money to stave off deflation

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By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, November 11, 2008

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3710374/...

The Swiss National Bank has cut interest rates to 0.5 percent and opened the door for emergency stimulus, becoming the first country in Europe to flirt with zero policy rates.

Fear triggers gold shortage, drives Treasury yields below zero

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By Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, December 10, 2008

http://www.telegraph.co.uk/finance/economics/3703565/Fear-triggers-gold-...

Growing controversy over gold backwardation

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3p ET Wednesday, December 20, 2008

Dear Friend of GATA and Gold:

If your eyes haven't rolled back in your head from the growing controversy about gold backwardation, Antal Fekete gets even more apocalyptic about it in a new essay at GoldSeek, "There Is No Fever Like Gold Fever," which you can find here:

http://news.goldseek.com/GoldSeek/1228935840.php

Ambrose Evans-Pritchard: Commodity crash tests faith in supercycle

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By Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, December 10, 2008

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/370266...

Rio Tinto gambled its future by contracting debt on a grand scale to fund its heady expansion near the top of the commodity bubble.

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