Daily Dispatches

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


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


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


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


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


From Reuters
Sunday, March 6, 2005


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


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

From AFX News, London
Sunday, March 6, 2005


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

James Turk: After three years, oil is starting to rise in euros too


By Marshall Auerback
Tuesday, March 1, 2005


"Below the favourable surface [of the economy], there are as
dangerous and intractable circumstances as I can remember....
Nothing in our experience is comparable. ... But no one is willing
to understand [this] and do anything about it. ... We are

Asian banks reducing share of U.S. dollar deposits, BIS reports


3:20p ET Sunday, March 6, 2005

Dear Friend of GATA and Gold:

The following commentary from the Economic Times
in New Delhi about exchange-traded funds for gold
in India confirms that such funds will not have to
keep on hand all the gold they claim to have and
thus may become new agents of the scheme to
suppress the gold price.

The key assertion by the commentary's author,
Puneet Jain, is this: "While gold fund managers

China to keep yuan''s peg to dollar for ''relatively long time''


From Reuters
Sunday, March 6, 2005


BASEL, Switzerland -- Bank of Japan Governor Toshihiko Fukui said on
Sunday that rising oil prices and future currency movements posed
risks for Japan's economy, but repeated he would keep the current

China says it won''t change dollar''s share in its foreign exchange reserves


2:07p ET Saturday, March 5, 2005

Dear Friend of GATA and Gold:

The spring dinner meeting of the Committee for Monetary
Research and Education, to be held in New York on
Thursday, May 5, will hear from some of the world's
greatest partisans of gold as it considers economic
freedom and sound money.

* James Turk, editor of the Freemarket Gold & Money
Report, founder of GoldMoney, author of "The Coming

Marshall Auerback: Last orders for the U.S. dollar?


By Doug Casey
Casey Research
February 28, 2005


In recent weeks the news media has been overflowing with reports on
the increasing tension between the U.S. and Iran, supposedly based
on the Islamic country's unwillingness to drop its nuclear

Gold EFTs in India won''t have to keep all their metal on hand


3:07p ET Sunday, March 6, 2005

Dear Friend of GATA and Gold:

GoldMoney founder James Turk, editor of the
Freemarket Gold & Money Report and consultant
to GATA, reports that oil's price in euros has
begun to rise for the first time in three years,
even as commodity prices generally are rising
sharply. Of course gold is languishing, an
indication of central bank intervention, but Turk

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