You are here
Daily Dispatches
Russian government may be taking over gold mining
Submitted by cpowell on Thu, 2007-08-23 15:44 Section: Daily DispatchesBy Oleg Mityayev
RIA Novosti, Moscow
(Russian News and Information Agency)
Tuesday, August 21, 2007
http://en.rian.ru/analysis/20070821/73010774.html
MOSCOW -- The Russian government is preparing to take control of gold mining, another "strategic sector" of the national economy where profits are expected to soar.
ECB funding fails to relieve euro interbank market
Submitted by cpowell on Thu, 2007-08-23 13:44 Section: Daily DispatchesBy David Milliken
Reuters
Thursday, August 23, 2007
http://www.reuters.com/article/bondsNews/idUSL238417220070823
FRANKFURT, Germany -- The European Central Bank's first ever emergency injection of three-month funds was swamped with demand from banks on Thursday but brought little relief to an interbank lending market beset by credit worries.
David Callaway: Money-center banks aren't fooling anybody
Submitted by cpowell on Thu, 2007-08-23 13:33 Section: Daily DispatchesBy David Callaway
MarketWatch.com
Thursday, August 23, 2007
http://www.marketwatch.com/news/story/four-little-piggies-went-market/st...
Treasury's plan backfires as IMF targets dollar's overvaluation instead of yuan's
Submitted by cpowell on Thu, 2007-08-23 09:01 Section: Daily DispatchesBy Christopher Swann
Bloomberg News Service
Thursday, August 23, 2007
http://www.bloomberg.com/apps/news?pid=20601087&sid=a1nc9c96MQI0&refer=home
WASHINGTON -- The U.S. Treasury took two years to persuade the International Monetary Fund to police global currency markets -- and just two months to trash the initiative once the IMF adopted it.
Cancel interest rate increase, German industry pleads
Submitted by cpowell on Thu, 2007-08-23 01:18 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Thursday, August 23, 2007
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/23/cnecb1...
German industry has appealed to the European Central Bank to cancel a rise in interest rates next month, warning that the credit crunch risks triggering a worldwide economic downturn.
Central banking is easy; the challenge is to stay in power
Submitted by cpowell on Thu, 2007-08-23 01:04 Section: Daily Dispatches1a Thursday, August 23, 2007
Dear Friend of GATA and Gold:
Today's edition of The King Report by Bill King (M. Ramsey King Securities, Burr Ridge, Illinois, http://www.mramseyking.com/thekingreport.html), maybe the best daily letter about the financial markets, shows how easy central banking is:
Debt overtaking GDP in Britain too
Submitted by cpowell on Wed, 2007-08-22 23:32 Section: Daily DispatchesRecord Numbers Face Debt Meltdown
By Edmund Conway
The Telegraph, London
Thursday, August 23, 2007
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/23/cndebt...
Countrywide confirms Bank of America's $2 billion investment
Submitted by cpowell on Wed, 2007-08-22 19:43 Section: Daily DispatchesBy Alex Veiga
Associated Press
via Yahoo News
Wednesday, August 22, 2007
http://biz.yahoo.com/ap/070822/countrywide_bank_of_america.html?.v=1
Straight from the discount window to a bailout for Countrywide
Submitted by cpowell on Wed, 2007-08-22 18:40 Section: Daily DispatchesBank of America to Invest $2 Billion in Countrywide
By Valerie Baurerlein
The Wall Street Journal
Wednesday, August 22, 2007
Bank of America Corp. is making a $2 billion equity investment in Countrywide Financial Corp., the embattled mortgage giant, according to people familiar with the situation.
John Rubino: Nope, that's not money
Submitted by cpowell on Wed, 2007-08-22 17:55 Section: Daily Dispatches5:55p ET Wednesday, August 22, 2007
Dear Friend of GATA and Gold:
John Rubino, co-author with GoldMoney's James Turk of "The Coming Collapse of the Dollar," has written a wonderful little essay, "Nope, That's Not Money," about the misperception of debt as money. You'll enjoy it even if you have a clue about what IS likely to be money, and you can find it at Gold-Eagle here:
Pages
