Daily Dispatches

South Africa's gold CEOs ready for mergers as prices decline

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By Kevin Crowley
Bloomberg News
Tuesday, October 14, 2014

JOHANNESBURG, South Africa -- South Africa's gold miners are ready for mergers and acquisitions as the falling price of bullion forces companies to cut costs and repay debt.

JPMorgan sets aside $1 billion for forex-rigging penalty

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By Tom Braithwaite and Martin Arnold
Financial Times, London
Tuesday, October 14, 2014

JPMorganChase set aside $1 billion in legal reserves, depressing third-quarter results, as the largest US bank by assets prepares to pay big penalties over allegations it manipulated the foreign exchange market.

Gold initiative is needed to restore Swiss independence, Barron tells KWN

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7:25p ET Monday, October 13, 2014

Dear Friend of GATA and Gold:

As the Swiss National Bank opposes the Swiss gold initiative, it is actually advocating keeping Switzerland subservient to the European Central Bank and particularly to the most financially irresponsible members of the euro zone, mining entrepreneur Keith Barron tells King World News today.

Ambrose Evans-Pritchard: The great lira revolt has begun in Italy

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By Ambrose Evans-Pritchard
The Telegraph, London
Monday, October 13, 2014

The die is cast in Italy. Beppe Grillo's Five Star movement has launched a petition to drive for Italian withdrawal from Europe's monetary union and for the restoration of economic sovereignty.

Russian oil exec accuses Saudis of manipulating oil price down

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Oil Surplus in World Market Temporary, Rosneft Vice President Says

From RIA Novosti, Moscow
Sunday, October 12, 2014

http://en.ria.ru/business/20141012/193992405/Oil-Surplus-in-World-Market...

MOSCOW -- The surplus of oil on the world market is a temporary phenomenon, the vice president of Russian oil giant Rosneft, Mikhail Leontyev, said Sunday.

Faber's likely last time on BNN: Gold and silver markets are manipulated

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10:31p ET Sunday, October 12, 2014

Dear Friend of GATA and Gold:

Financial letter writer Marc Faber made on Friday what likely will be his last appearance on Business News Network in Canada -- not because of failing health or retirement but because he declared that the monetary metals markets are manipulated.

Robert Fitzwilson: Will world reject the West's paper-manipulated markets?

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7p ET Sunday, October 12, 2014

Dear Friend of GATA and Gold:

Asian market hubs move into gold

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Asian Market Hubs Move Into Gold

Demand From Region Is World's Largest but Most Trading Is in West

By Biman Mukherji and Ese Erhereine
The Wall Street Journal
via EIN News, Washington
Sunday, October 12, 2014

Asians buy most of the world's gold, but nearly all of it trades in London. Now, with Western investors souring on the metal, the region is making a bid for some of the action.

China gold market researcher Koos Jansen interviewed by TF Metals Report

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12:02p ET Sunday, October 12, 2014

Dear Friend of GATA and Gold:

Draghi says growing ECB balance sheet is last stimulus tool left

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By Stefan Riecher and Scott Hamilton
Bloomberg News
Saturday, October 11, 2014

WASHINGTON -- European Central Bank President Mario Draghi said expanding the bank's balance sheet is the last monetary tool left to revive inflation, although there is no target for how much it might be increased.

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