You are here
Daily Dispatches
Euro hasn't gained as reserve currency for three years
Submitted by cpowell on Sat, 2006-11-04 10:36 Section: Daily DispatchesBIS Says Dollar Still
Top Reserve Currency
From Reuters
via Khaleej Times, Dubai
Saturday, November 4, 2006
BERLIN -- The US dollar has a big lead over the euro as the world’s top reserve currency, but the British pound is now much more widely held than the Japanese yen, according to a Bank for International Settlements report quoted in a German magazine on Saturday.
Der Spiegel quoted a new BIS study which found that the euro was not yet in a position to challenge the dollar as the key reserve currency, despite speculation that the greenback had been losing ground.
One more proof there's too much 'money' sloshing around
Submitted by cpowell on Fri, 2006-11-03 17:51 Section: Daily DispatchesNew Gig Has Chelsea
Hedging Into Big Money
By Ben Smith
New York Daily News
Friday, November 3, 2006
http://www.nydailynews.com/front/story/467929p-393667c.html
Former and perhaps future First Daughter Chelsea Clinton is getting a new job -- and probably a big raise.
Clinton is taking a post at the Avenue Capital Group, a hedge fund run by supporters of her mother, according to a person familiar with the company's decision.
Democrats warn that U.S. debt could trigger crisis
Submitted by cpowell on Thu, 2006-11-02 20:59 Section: Daily DispatchesFrom Reuters
Thursday, November 2, 2006
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reut...
WASHINGTON -- Democratic lawmakers warned on Thursday that U.S. reliance on foreign countries to purchase U.S. debt could lead to a financial crisis as they faulted the Bush administration's economic stewardship.
Buy gold regularly, like clockwork, and it will treat you right
Submitted by cpowell on Thu, 2006-11-02 19:49 Section: Daily Dispatches7:45p ET Thursday, November 2, 2006
Dear Friend of GATA and Gold:
Shares of gold and silver mining companies have huge potential as well as huge risk, but if you can settle for 10 or 20 percent or so per year on your savings and want to sleep soundly and regain some of the time you spend at the computer screen tracking and trading stocks, some good advice was posted today at the USAGold.com Forum by Webmaster Randy Strauss. It is appended.
James Turk: Almost a breakout
Submitted by cpowell on Thu, 2006-11-02 08:53 Section: Daily Dispatches8:47a Thursday, November 2, 2006
Dear Friend of GATA and Gold:
GoldMoney founder, Freemarket Gold & Money Report editor, and GATA consultant James Turk charts gold and silver prices once again and concludes that there is "almost a breakout" -- but not until silver confirms gold's recent rise. You can find Turk's new analysis in the "Founder's Commentary" box at the top left of the GoldMoney home page here:
AngloGold Ashanti continues to reduce forward sales of gold
Submitted by cpowell on Wed, 2006-11-01 08:23 Section: Daily Dispatches8:17a ET Wednesday, November 1, 2006
Dear Friend of GATA and Gold:
Resource Investor's Charlotte Matthews reports that AngloGold Ashanti has reduced by nearly another $400 million the value of gold it has sold in advance of production. AngloGold Ashanti's hedge book is now at 9.5 million ounces, just about half of what it was four years ago. You can find the report at Resource Investor here:
John Hathaway: Gold can triple without any catastrophe
Submitted by cpowell on Wed, 2006-11-01 08:16 Section: Daily Dispatches8:14a ET Wednesday, November 1, 2006
Dear Friend of GATA and Gold:
Tocqueville Gold Fund manager John Hathaway surveys the gold and financial markets in his new essay, "Trivial Pursuit," and remarks:
"Should fear revisit the financial markets, buying power for gold is without precedent. While the gold mining industry struggles to produce 2,500 tonnes per year, an amount that would increase the above-ground stock of gold by a paltry 1.7 percent, the financial system continually spews out a blizzard of new financial assets, all of which represent potential claims for liquidity and safety.
Ted Butler: A red flag?
Submitted by cpowell on Tue, 2006-10-31 18:50 Section: Daily Dispatches6:44p ET Tuesday, October 31, 2006
Dear Friend of GATA and Gold:
In his latest essay, silver market analyst and GATA consultant Ted Butler comments on the sudden and unexplained resignation of the chief financial officer of the New York Mercantile Exchange. Butler thinks it has something to do with the former CFO's discovery that the NYMEX has a terrible liability in the manipulation of the silver market. You can find Butler's new essay, "A Red Flag?," at GoldSeek's companion site, SilverSeek, here:
UAE may make decisive shift away from dollar reserves
Submitted by cpowell on Tue, 2006-10-31 08:38 Section: Daily DispatchesBy Haseeb Haider
Khaleej Times, Dubai
Tuesday, October 31, 2006
http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/business/20...
ABU DHABI -- The United Arab Emirates Central Bank may cut its U.S. dollar-dominated reserves by up to 90 percent and is looking at other currencies such as the yen, euro, and sterling, UAE Central Bank Governor Sultan Nasser Al Suwaidi said yesterday. He did not elaborate.
Ben Stein: Has corporate America no shame? Or no memory?
Submitted by cpowell on Mon, 2006-10-30 22:05 Section: Daily DispatchesBy Ben Stein
The New York Times
Sunday, October 29, 2006
http://www.nytimes.com/2006/10/29/business/yourmoney/29every.html?_r=1&o...
Truth be told, I had been wondering why Henry M. Paulson Jr., previously top dog at the Goldman Sachs Group -- already a power, already a wealthy man -- would have wanted to be Treasury secretary. After all, he couldn’t stop the Bush administration from pushing for tax cuts when they definitely were not needed, could not affect the vast current account deficit, could not do much about income inequality or the vast chasm that exists between whites and blacks in earning power and wealth in this country.
Pages
