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Daily Dispatches
Ted Butler: Silver has a lot of catching up to do
Submitted by cpowell on Mon, 2006-11-13 21:36 Section: Daily Dispatches9:27p ET Monday, November 13, 2006
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler's new essay, "Us and Them," notes how silver's price, even with its recent strong rise, badly lags the price of other industrial metals when silver should lead them because of its dual function as a monetary metal. "The investment punch to the silver price has barely been felt," Butler writes, "and before it's over the percentage gain in silver will dwarf that of any other metal."
Private silver currency gets notice in western North Carolina
Submitted by cpowell on Sun, 2006-11-12 12:34 Section: Daily DispatchesLiberty Dollars
Used in Asheville
Are Not Legal Tender
By Ieva M. Augstums
Associated Press
via The Herald-Sun, Durham, North Carolina
Saturday, November 11, 2006
http://www.heraldsun.com/state/6-787392.html
ASHEVILLE, North Carolina -- What's in your wallet? If it's a Liberty Dollar, watch out.
Similar in size and design to the U.S. Mint coins that are legal tender for all debts, public and private, Liberty Dollars are stamped from 1 troy ounce of 0.999 fine silver with a supposed face value of $20. It's an alternative currency accepted by some 85 businesses in Asheville, the largest city in the mountains of western North Carolina.
You're invited to GATA's reception in New Orleans on Saturday, Nov. 18
Submitted by cpowell on Sun, 2006-11-12 12:13 Section: Daily Dispatches12:04p ET Sunday, November 12, 2006
Dear Friend of GATA and Gold:
The Gold Anti-Trust Action Committee invites its friends to an evening reception in a historic setting during and just a few blocks from the 2006 New Orleans Investment Conference:
Saturday, November 18, 2006
7-9 p.m.
Latrobe's on Royal
403 Royal St.
New Orleans, Louisiana
Tickets: $30 per person
Complimentary beer, wine, and hors d'oeuvres
Chinese central banker says gold is 'separate' from FX diversification
Submitted by cpowell on Fri, 2006-11-10 21:38 Section: Daily Dispatches9:30p ET Friday, November 10, 2006
Dear Friend of GATA and Gold:
Reuters has gotten another interview with the head of China's central bank and drawn him out on plans for diversification of the country's foreign exchange reserves. The Reuters correspondent, Simon Rabinovitch, even had the wit to ask about gold, and got an answer that was telling for being so cryptic: "That's a separate thing."
NovaGold CEO and Grandich on Canada's ROB-TV
Submitted by cpowell on Fri, 2006-11-10 17:37 Section: Daily Dispatches5:30p ET Friday, November 10, 2006
Dear Friend of GATA and Gold:
Rick Van Nieuwenhuyse, president and CEO of NovaGold Resources, was interviewed on Canada's ROB-TV this morning about the company's effort to fend off Barrick Gold's hostile takeover attempt. He was followed by Peter Grandich of the Grandich Letter, who explained why he believes that the U.S. government manipulates the equities and gold markets and who cited GATA's work. You can watch the program for a week at the ROB-TV archive here:
China will power gold upward for years, Gartman says
Submitted by cpowell on Fri, 2006-11-10 01:05 Section: Daily DispatchesChina 'To Boost Gold
for Years to Come'
By Ambrose Evans-Pritchard
The Telegraph, London
Friday, November 10, 2006
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/11/10/cnchin...
Gold surged more than $19 an ounce to $635 in New York trading after China's central bank chief said the country was eyeing "lots of instruments" as alternatives to US dollar reserves. Governor Zhou Xiaochuan said the bank had a "clear" plan to lower the dollar share of its exchange reserves, now $1 trillion and rising fast.
China says it long has had a dollar diversification plan. Do you?
Submitted by cpowell on Thu, 2006-11-09 20:14 Section: Daily Dispatches8:06p ET Monday, September 4, 2006
Dear Friend of GATA and Gold:
Maybe you've heard the one about the two central bankers passing each other in the hall at the Bank for International Settlements in Basel, Switzerland. One says "hello" and the other thinks, "I wonder what he meant by that."
That's how you have to regard the comment made to Reuters by the governor of the People's Bank of China, Zhou Xiaochuan, and quoted in the Bloomberg story below. (Sorry, but we've been unable to locate the original Reuters story.) Zhou sent the U.S. dollar tumbling today by remarking at a European Central Bank conference in Frankfurt:
Treasury joins Fed in repo-like manipulation of money supply and markets
Submitted by cpowell on Wed, 2006-11-08 04:21 Section: Daily DispatchesU.S. Treasury Is Quietly Doing Fed's Work
By John Crudele
New York Post
Tuesday, November 7, 2006
http://www.nypost.com/seven/11072006/business/u_s__treasury_is_quietly_d...
For the past few years the U.S. Treasury has been quietly involved in what the financial markets call "repo" agreements, and this near-secret operation could explain why the nation's money supply seems to be confoundingly large.
Bank of China offers gold options, silver forwards
Submitted by cpowell on Tue, 2006-11-07 08:37 Section: Daily DispatchesFrom Reuters
Tuesday, November 7, 2006
http://asia.news.yahoo.com/061107/3/2sgi0.html
BEIJING -- The Bank of China said on Tuesday it is offering gold options to individual account holders and silver forwards and silver leasing to its corporate account holders.
Some Chinese banks already offer "paper gold" and other gold-related investment tools to attract deposits from increasingly prosperous domestic clients.
Peter Grandich: Don't blame manipulation for gold's every fall
Submitted by cpowell on Mon, 2006-11-06 20:34 Section: Daily Dispatches8:15p ET Monday, November 6, 2006
Dear Friend of GATA and Gold:
The latest edition of Peter Grandich's letter came out today and has been posted at GoldSeek. Among other things, Grandich remarks:
"While I believe it's foolhardy to think that gold is manipulated each and every day (that's what some seem to say whenever it's down or has declined from higher prices), I do believe a group or groups has capped and is likely in the future to continue to cap or manipulate the gold price. But again, I urge you not to use manipulation as the only excuse gold is down on a particular day. There are many technical and fundamental reasons, and those who only see manipulation are not doing you any favors in being blind to other reasons. This, by no means, lessens my view on manipulation. I believe it occurs, but to say it is the only reason gold declines is a form of sour grapes.
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