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Daily Dispatches
ROB-TV interviews Jay Taylor on mining stocks
Submitted by cpowell on Thu, 2006-09-28 23:27 Section: Daily Dispatches11:21p ET Thursday, September 28, 2006
Dear Friend of GATA and Gold:
GATA's friend Jay Taylor, editor of J. Taylor's Gold and Technology Stocks letter, was interviewed about mining stocks for an hour Monday on "Market Call Tonight with Michael Hainsworth" on Canada's ROB-TV, and you can watch the show until next Monday at the ROB-TV archive here:
Jim Sinclair interviewed on gold by Bloomberg TV
Submitted by cpowell on Thu, 2006-09-28 21:42 Section: Daily Dispatches9:22p ET Thursday, September 28, 2006
Dear Friend of GATA and Gold:
Our friend Jim Sinclair, chairman of Tanzanian Royalty Exploration and proprietor of JSMineSet.com, was interviewed for eight minutes Wednesday on Bloomberg Television. Among his major points:
-- Gold isn't a religion but a currency and is primarily the inverse of the U.S. dollar.
-- The dollar is at a critical level and the U.S. Exchange Stabilization Fund is likely defending it here.
Regulators urge international action on derivatives
Submitted by cpowell on Thu, 2006-09-28 20:58 Section: Daily DispatchesCentral banks and financial houses will work together to fix troublesome markets
* * *
Regulators Urge Joint Action on Derivatives
By Gillian Tett and Anuj Gangahar
Financial Times, London
Wednesday, September 27, 2006
http://www.ft.com/cms/s/7af25f72-4e54-11db-bcbc-0000779e2340.html
Three of the world's most powerful financial regulators have taken the unusual step of issuing a joint warning that individual nations cannot contain some of the risks posed by the explosive growth of derivatives and must collaborate across borders.
You're invited to GATA's reception during the New Orleans Investment Conference
Submitted by cpowell on Wed, 2006-09-27 23:52 Section: Daily Dispatches11:47p ET Wednesday, September 27, 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
Treasury irked that somebody else may be rigging markets
Submitted by cpowell on Wed, 2006-09-27 23:30 Section: Daily DispatchesFrom Reuters
Wednesday, September 27, 2006
http://today.reuters.com/news/articleinvesting.aspx?type=governmentFilin...
WASHINGTON -- U.S. financial regulators are concerned by an increase in instances of firms trying to profit from controlling a particular Treasury security, a Treasury official told a bond market group on Wednesday.
Enron CFO says banks were part of crooked schemes
Submitted by cpowell on Wed, 2006-09-27 00:46 Section: Daily DispatchesBy Laurel Brubaker Calkins and Thom Weidlich
Bloomberg News Service
Tuesday, September 26, 2006
http://www.bloomberg.com/apps/news?pid=20601087&sid=avUgn8g2tTk8&refer=home
Andrew Fastow, Enron Corp.'s former finance chief and architect of the fraud that led to the energy trader's bankruptcy, said company banks, including Merrill Lynch & Co. and Credit Suisse, were in on his scheme.
"In many instances, the financial transactions in which I engaged related to Enron were done with the knowledge of senior management, some of Enron's banks, and others, and were done primarily to meet Enron's financial reporting and credit-rating targets," Fastow said in a declaration filed in an investor securities-fraud case in Houston today.
Central bank rush to dishoard pushed gold down for two months ...
Submitted by cpowell on Wed, 2006-09-27 00:37 Section: Daily Dispatches... but desire to sell seems to be fading.
* * *
Gold Sales Fall Well Below Limit
Set in Central Banks' Agreement
By Kevin Morrison
Financial Times, London
Wednesday, September 27, 2006
http://www.ft.com/cms/s/42d5707e-4dc4-11db-8704-0000779e2340.html
European central banks have been big sellers of gold over the past six years but this year they appear to have lost their desire to sell the metal even though gold prices have been much higher.
Many Americans suspect gas price decline is political market rigging
Submitted by cpowell on Wed, 2006-09-27 00:22 Section: Daily DispatchesAmericans Skeptical of Gas Price Drop
By Brad Foss
Associated Press
Monday, September 25, 2006
http://biz.yahoo.com/ap/060925/gas_prices.html?.v=1
WASHINGTON -- There is no mystery or manipulation behind the recent fall in gasoline prices, analysts say. Try telling that to many U.S. motorists.
Almost half of all Americans believe the November elections have more influence than market forces. For them, the plunge at the pump is about politics, not economics.
China has enough dollars but maybe not enough oil and gold
Submitted by cpowell on Wed, 2006-09-27 00:08 Section: Daily DispatchesThe Trillion-Dollar Question:
China is Grappling With
How to Deploy
Its Foreign-Exchange Riches
By Richard McGregor
Financial Times, London
Monday, September 25, 2006
http://www.ft.com/cms/s/35ee4216-4c32-11db-90d2-0000779e2340.html
It operates out of a nondescript office tower in Finance Street and, shortened to its English acronym, "SAFE," sounds like one of those fictitious shadowy organisations from a Sixties spoof spy show. But the Beijing-based State Administration of Foreign Exchange has a serious, real-world job -- to manage China's towering stack of foreign currency holdings.
Ted Butler: Hedge fund's collapse proves concentration in commodity markets
Submitted by cpowell on Tue, 2006-09-26 23:46 Section: Daily Dispatches11:37p ET Tuesday, September 26, 2006
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler argues persuasively in his latest essay, "Concentration," that the collapse of the Amaranth Advisers hedge fund is proof of excessive concentration in the commodities markets. Amaranth's position in natural gas, Butler writes, "was so large and made up such a big chunk of the market that when it was liquidated it wasn’t even truly liquidated. It had to be assumed by other entities in arranged transactions." But the market regulators missed this concentration, just as they have studiously missed the concentration of the short positions in the silver market.
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