Daily Dispatches

As governments shower money on them, banks drop subprime rescue fund

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Banks Abandon Super-SIV Plan

By David Enrich and Diya Gullapalli
The Wall Street Journal
Friday, December 21, 2007

The banks orchestrating a bailout of troubled investment vehicles that were hit by the subprime mortgage crisis are throwing in the towel after struggling to raise money for the planned fund, according to people familiar with the matter.

Saudis may start buying real stuff in a big way instead of Treasuries

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Saudis Plan Huge Sovereign Wealth Fund

By Henny Sender, David Wighton, and Sundeep Tucker
Financial Times, London
Friday, December 21, 2007

http://www.ft.com/cms/s/0/412752ae-afa4-11dc-b874-0000779fd2ac.html?ncli...

Saudi Arabia plans to establish a sovereign wealth fund that is expected to dwarf Abu Dhabi's $900 billion and become the largest in the world.

China seen switching out of copper and into gold and platinum

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By Matt Whittaker
Associated Press
via Yahoo News
Friday, December 21, 2007

http://biz.yahoo.com/ap/071221/china_gold_platinum.html?.v=1

NEW YORK -- China, the 800-pound gorilla of copper buying, is turning instead to gold and platinum as the price of the red metal continues to sink and it sees precious metals as good investments against currency concerns, market watchers say.

Fed promises infinite money as long as banks want it

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Fed to Offer Special Auctions 'As Long As Necessary'

By Liz Capo McCormick
Bloomberg News Service
Friday, December 21, 2007

http://www.bloomberg.com/apps/news?pid=20601087&sid=a0jFvw9NueL4&refer=h...

Liberty Dollar reopens to raise defense funds

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Business Booming After Raid

By Gavin Lesnick
Evansville Courier & Press (Evansville, Indiana)
Monday, December 17, 2007

http://www.courierpress.com/news/2007/dec/17/businessboomingafter-raid/

The Evansville-based headquarters of a company that produces the Liberty Dollar is open again with a new name and a new product.

Paul advances from asterisk to spoiler. Next, the nominee -- then president!

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Paul Shaping Up as Spoiler in GOP Race

By David Espo
Associated Press
via Yahoo News
Thursday, December 20, 2007

http://news.yahoo.com/s/ap/20071220/ap_on_el_pr/anti_war_asterisk

CONCORD, New Hampshire -- It wasn't long ago that Rep. Ron Paul was an anti-war asterisk in the race for the Republican presidential nomination. Then his campaign raised a record $6 million in a single day.

Credit crisis hits top U.S. bond insurer

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By Stephen Bernard
Associated Press
via Yahoo News
Thursday, December 20, 2007

http://news.yahoo.com/s/ap/20071220/ap_on_bi_ge/mbia;_ylt=AnN0d6JD2Gy9gQ...

Al-Jazeera's 'People & Power' airs 'Death of the Dollar, Part 2'

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9:20p ET Wednesday, December 19, 2007

Dear Friend of GATA and Gold:

Journalism's wacky provocateur Max Keiser is back doing economics at Al-Jazeera's "People & Power" program and again is getting far closer to the big financial story of our times than is, say, The New York Times.

James Turk: Print, print, print

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2:38p ET Wednesday, December 19, 2007

Dear Friend of GATA and Gold:

China takes 10% stake in Morgan Stanley to cover junk mortgages

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Morgan Stanley Sells Stake to China Amid Losses

By Joseph A. Giannone
Reuters
Wednesday, December 19, 2007

http://www.reuters.com/article/ousiv/idUSWNAS491120071219

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