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Daily Dispatches
Commodities were up but somehow Goldman's index for them was down
Submitted by cpowell on Tue, 2007-02-06 16:23 Section: Daily DispatchesGoldman Sachs Sells Top Commodity Index
By Kevin Morrison
Financial Times, London
via Yahoo News
Tuesday, February 6, 2007
http://biz.yahoo.com/ft/070206/fto020620071349313629.html?.v=1
Goldman Sachs has agreed to sell its GSCI commodity index to Standard & Poor's for an undisclosed amount.
The move will give S&P a potentially powerful influence on commodity markets as any changes to the index composition can have wide ramifications for underlying commodity prices.
John Dizard: Goldman Sachs and its magic commodities box
Submitted by cpowell on Tue, 2007-02-06 09:08 Section: Daily DispatchesBy John Dizard
Financial Times, London
via Yahoo News
Monday, February 5, 2007
http://news.yahoo.com/s/ft/20070205/bs_ft/fto020520071619273517;_ylt=As8...
Two weeks ago I unfairly profiled the Chicago speculator community. "Profiling," in the sense of accusing or convicting a suspect based on race or general appearances, is wrong, even in the case of such a rich and privileged group as the "locals," or speculators in the commodities pits.
Goldman Sachs seeks share of second Indian commodities exchange
Submitted by cpowell on Tue, 2007-02-06 01:25 Section: Daily DispatchesBy Reena Zachariah
Business Standard, Mumbai
Tuesday, February 6, 2007
http://www.business-standard.com/common/storypage.php?autono=273759&left...
MUMBAI -- Nearly a month after acquiring 5 percent in the National Stock Exchange, Goldman Sachs has proposed to buy a stake in the Multi Commodity Exchange (MCX), India's largest commodity bourse.
Sources said Goldman Sachs, which holds 7 percent in the National Commodity and Derivatives Exchange Ltd (NCDEX), the other leading commodity bourse, said the MCX buy would be considered an investment and not a strategic acquisition.
Asarco charges Mexican parent company with stealing most valuable asset
Submitted by cpowell on Tue, 2007-02-06 00:15 Section: Daily DispatchesBy Les Blumenthal
McClatchy Newspapers
Monday, February 5, 2007
http://www.realcities.com/mld/krwashington/16629646.htm
WASHINGTON -- One-time mining giant Asarco, charging that its Mexican owner stole its most valuable asset and left it to face $7 billion worth of environmental and asbestos-related claims, has asked a federal bankruptcy judge to void the transfer of two Peruvian copper mines to Grupo Mexico, S.A. de C.V.
Chinese president's shopping excursion arrives in Namibia
Submitted by cpowell on Tue, 2007-02-06 00:01 Section: Daily DispatchesBy Celean Jacobson
Associated Press
Monday, February 5, 2007
http://news.yahoo.com/s/ap/20070205/ap_on_re_as/africa_china;_ylt=AoHVk6...
WINDHOEK, Namibia -- Chinese President Hu Jintao announced new development aid for Namibia on Monday, promising an interest-free loan and money for schools in the sparsely populated, mineral-rich desert country.
M.A. Nystrom: McNosis, retiring boomers, and the silent crash
Submitted by cpowell on Mon, 2007-02-05 22:43 Section: Daily Dispatches10:35p ET Monday, February 5, 2007
Dear Friend of GATA and Gold:
Over at Gold-Eagle M.A. Nystrom notes the increasingly frantic pace of American society and considers it a sign of the grinding down of the working class under forces nobody quite understands, forces that begin to be revealed in charts of the Dow Jones Industrial Index plotted in terms of ounces of gold and the CRB Commodity Index. Nystrom's essay is titled "McNosis, Retiring Boomers, and the Silent Crash," and you can find it here:
GATA sympathizers invited to gather in Dublin for drinks and a movie
Submitted by cpowell on Mon, 2007-02-05 22:17 Section: Daily Dispatches10:05p ET Monday, February 5, 2007
Dear Friend of GATA and Gold:
GATA's old friend and world traveler George Roche (he has attended GATA events in Vancouver, New Orleans, New York, and Geneva) reports that the film "Mine Your Own Business," which criticizes the so-called environmental movement and defends the extractive industries, will be shown at noon Sunday, February 18, at the International Dublin Film Festival. Roche will be in Ireland that week, plans to attend the festival and see the movie, and would like to get together then for coffee or a pint or two with any GATA sympathizers in the neighborhood. If you're interested, please e-mail Roche at GRoche8095@aol.com and he'll arrange something.
China's empire building in Africa means trouble for West
Submitted by cpowell on Mon, 2007-02-05 17:18 Section: Daily DispatchesBy Ambrose Evans Pritchard
The Telegraph, London
Monday, February 5, 2007
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/02/05/ccview...
The new Cold War between China and the United States is taking shape, in Africa. Last week the US Defence Department quietly launched its first military command dedicated to black Africa and the Sahara -- until now a forgotten annex of the Pentagon's European and Mid East operations.
China drives copper prices -- and maybe manipulates them
Submitted by cpowell on Mon, 2007-02-05 17:06 Section: Daily DispatchesBy Joanne Lee-Young
Vancouver Sun
Monday, February 5, 2007
http://www.canada.com/vancouversun/news/business/story.html?id=1d606af4-...
The copper bulls are duking it out with the copper bears. Each side says look at China. Both have British Columbia mining companies watching with interest.
The debate is on because copper has been slipsliding. Lately, it has been holding on at around $2.60 US for .45 kg (one pound), down some 35 percent from a May 2006 stratospheric high of just under $4 for .45 kg.
Peter Brimelow: Golden suspicions -- newsletters wonder about market manipulation
Submitted by cpowell on Mon, 2007-02-05 08:21 Section: Daily DispatchesBy Peter Brimelow
CBSMarketWatch.com
Monday, February 5, 2007
http://www.marketwatch.com/News/Story/Story.aspx?guid={7B057E5F-A1BE-49ED-9ACF-01720C5F524A}&siteid=mktw
NEW YORK -- The past week was dramatic for gold. And the letters smell manipulation.
At Thursday's close, the yellow metal had risen to a high not seen since July last year (briefly). Then heavy selling in New York on Friday eradicated almost the entire week's gain.
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