Daily Dispatches

Stressed banks borrow record amount from Fed

Submitted by cpowell on Thu, 2008-07-31 23:48 Section: Daily Dispatches

By John Parry
Reuters
Thursday, July 31, 2008

http://www.reuters.com/article/ousiv/idUSN3163777720080731?sp=true

NEW YORK -- Banks borrowed a record amount of funds from the Federal Reserve in the latest week as the year-old credit crisis took a persistent toll, while the commercial paper market continued to contract, signaling tough conditions for short term borrowers.

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Don't despair -- the New Orleans conference is on the way

Submitted by cpowell on Thu, 2008-07-31 11:23 Section: Daily Dispatches

11:20a ET Thursday, July 31, 2008

Dear Friend of GATA and Gold:

Drop those barbiturates! Put down that razor blade! Now step out of the bathtub! And -- oh, jeez -- wrap yourself in a towel!

This is no time for gold investors to despair, and no time for any investors to be naked anything. For the New Orleans Investment Conference is on the way.

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Inflation in Europe reported at 16-year high

Submitted by cpowell on Thu, 2008-07-31 08:48 Section: Daily Dispatches

By Fergal O'Brien
Bloomberg News Service
Thursday, July 31, 2008

http://www.bloomberg.com/apps/news?pid=20601087&sid=afAiVyGGAmpM&

Inflation in Europe accelerated to the fastest pace in more than 16 years in July, restricting the European Central Bank's room to bolster the economy even as unemployment starts to increase.

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Borrow from Fed and you get protection against shorting

Submitted by cpowell on Wed, 2008-07-30 15:01 Section: Daily Dispatches

SEC Extends Ban on Shorting Fannie, Freddie

By David Scheer and Edgar Ortega
Bloomberg News Service
Wednesday, July 30, 2008

http://www.bloomberg.com/apps/news?pid=20601087&sid=a2TrS9t34oao&refer=home

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Central banks extend emergency credit; rate hikes less likely

Submitted by cpowell on Wed, 2008-07-30 14:31 Section: Daily Dispatches

And now you know why gold has been bombed this week.

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Central Banks Fire New Round at Credit Crisis

By Glenn Somerville
Reuters
Wednesday, July 30, 2008

http://www.reuters.com/article/ousiv/idUSWAT00986620080730

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James Turk: More than a helping hand

Submitted by cpowell on Wed, 2008-07-30 08:47 Section: Daily Dispatches

8:45a ET Wednesday, July 30, 2008

Dear Friend of GATA and Gold:

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IMF sees no end to credit crisis

Submitted by cpowell on Mon, 2008-07-28 16:24 Section: Daily Dispatches

But maybe selling more gold will help. ...

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By Krishna Guha
Financial Times, London
Monday, July 28, 2008

http://www.ft.com/cms/s/0/a3deb7da-5caf-11dd-8d38-000077b07658.html?ncli...

Global financial markets are "fragile" and indicators of systemic risk remain "elevated" almost a year into the credit crisis, the International Monetary Fund said on Monday.