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Daily Dispatches
So much money and so little real economy to invest it in
Submitted by cpowell on Sat, 2006-10-07 11:19 Section: Daily DispatchesCommodity derivatives were invented to help soak it up without raising prices.
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A Kink in Venture Capital's Gold Chain
By Miguel Helft
The New York Times
Saturday, October 7, 2006
http://www.nytimes.com/2006/10/07/business/07venture.html?em&ex=11603664...
The high-risk, high-return venture capital business may have turned into all risk and no return.
The gold price suppression scheme is being found out
Submitted by cpowell on Fri, 2006-10-06 15:47 Section: Daily Dispatches3:38p ET Friday, October 6, 2006
Dear Friend of GATA and Gold:
If you doubt that the central bank scheme to suppress the gold price as part of a policy of rigging currency and bond markets is starting to be found out, take a look at the headline on the Sydney Morning Herald's republication today of yesterday's London Telegraph story by Ambrose Evans-Pritchard about the latest central bank gold sales:
John Embry's address to the Silver Summit
Submitted by cpowell on Fri, 2006-10-06 11:59 Section: Daily Dispatches11:50a ET Friday, October 6, 2006
Dear Friend of GATA and Gold:
The address of Sprott Asset Management's chief investment strategist, John Embry, at the Silver Summit in Coeur d'Alene, Idaho, on Sept. 22 examined what he sees as the tremendous prospects for silver, the manipulation of the precious metals markets, and the silence of the mining industry in the face of that manipulation. Embry appealed to the industry to start standing up for itself. It was a brilliant, informative, and, let's hope, a motivating speech, and you can find it at the Sprott Internet site here:
Newmont President Lassonde speaks at CMRE dinner meeting in NYC Oct. 19
Submitted by cpowell on Fri, 2006-10-06 11:02 Section: Daily Dispatches11a ET Friday, October 6, 2006
Dear Friend of GATA and Gold:
A reminder that Newmont Mining Corp. President Pierre Lassonde will be among the speakers at the fall dinner meeting of the Committee for Monetary Research and Education in New York City on Thursday, October 19.
The meeting will be held from 4 (registration and cocktails for a half hour) to about 9:30 p.m. at the Union League Club, 38 East 37th St., five short blocks south of Grand Central Station at the corner of Park Avenue. The dinner is always excellent and the speakers are often gold-friendly.
James Turk: Precious metals bending but not breaking
Submitted by cpowell on Fri, 2006-10-06 10:08 Section: Daily Dispatches10a ET Friday, October 6, 2006
Dear Friend of GATA and Gold:
GoldMoney founder James Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, writes that the precious metals are "bending but not breaking." His latest technical analysis can be found in the "Founder's Commentary" box at the top left of the GoldMoney home page here:
CHRIS POWELL, Secretary/Treasurer
Gold selloff driven by central banks, not investors
Submitted by cpowell on Thu, 2006-10-05 17:24 Section: Daily DispatchesIt was all just another market-rigging operation, but it came at a huge price. Now ALMOST EVERYBODY is starting to understand it.
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Bank of France Blamed
for Big Selloff in Gold
By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, October 5, 2006
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/10/05/bcngol...
Central banks may have dumped far more gold on the markets over the last three weeks than officially reported, accounting for the sudden plunge in prices that has stunned investors.
Barrick switches from hedging gold to hedging copper
Submitted by cpowell on Thu, 2006-10-05 17:12 Section: Daily DispatchesFrom Reuters
Thursday, October 5, 2006
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reut...
TORONTO -- Barrick Gold Corp.'s $1 billion copper-linked debt financing is a cheap way for the world's biggest gold producer to get cash to fund projects, one analyst said on Thursday.
Barrick is selling $1 billion in notes, consisting of $400 million of 5.75 percent notes due 2016 and $600 million of 6.35 percent notes due 2036.
Refusing to sell gold in 2007, Bundesbank offers its quota to other central banks
Submitted by cpowell on Thu, 2006-10-05 17:03 Section: Daily DispatchesBy Christian Vits
Dow Jones Newswires
Thursday, October 5, 2006
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20061005%5cACQDJO...
FRANKFURT -- Germany's Bundesbank doesn't intend to sell gold reserves during the next 12 months except some sales for coinage, it said Thursday.
According to the European Central Bank's Gold Sales Agreement, the Bundesbank can sell up to 120 metric tons of gold a year until 2009. The third year of the agreement started Sept. 27. Since the beginning of the agreement the Bundesbank has refused to sell larger amounts of its gold reserves.
Barclays suspects sneaky accounting of recent central bank gold sales
Submitted by cpowell on Thu, 2006-10-05 16:45 Section: Daily DispatchesEuropean Central Banks
May Have Sold Full Quota
of Gold, Barclays Says
By Claire Black
Reuters
Thursday, October 5, 2006
http://za.today.reuters.com/news/newsArticle.aspx?type=businessNews&stor...
LONDON -- Barclays Capital said on Thursday it believed that Europe's central banks sold the full 500 tonnes of gold in the second year of an agreement that regulates bullion sales.
Just how much gold did central banks really sell?
Submitted by cpowell on Thu, 2006-10-05 16:39 Section: Daily DispatchesThey're less than clear, which is how they would want it as manipulators of the currency markets.
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Bundesbank Boosts Sentiment for Gold Market
By Chris Flood
Financial Times, London
Thursday, October 5, 2006
http://www.ft.com/cms/s/15eeae1a-5493-11db-901f-0000779e2340,_i_rssPage=...
Germany's Bundesbank said on Thursday that it does not plan to sell any gold from its reserves for a third year, giving a significant boost to sentiment in the gold market after recent sharp falls in prices.
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