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Daily Dispatches
MineWeb covers Blanchard report on need to disclose central bank gold lending
Submitted by cpowell on Fri, 2006-12-15 09:03 Section: Daily Dispatches8:55a ET Friday, December 15, 2006
Dear Friend of GATA and Gold:
MineWeb's Dorothy Kosich has written an excellent story about the Blanchard report on the need for transparency and accountability in central bank gold lending. You can find it here:
http://www.mineweb.net/gold_silver/522719.htm
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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Don't resent coin melting ban; it's a great victory for gold and silver
Submitted by cpowell on Thu, 2006-12-14 22:18 Section: Daily Dispatches10p ET Thursday, December 14, 2006
Dear Friend of GATA and Gold:
People are questioning the authority of the United States Mint to ban the melting and export of U.S. coins, as the Mint today proclaimed its intent to do in regard to pennies and nickels:
Most of the news stories on the subject seem not to have specified this authority, and neither did the mint's own statement, appended here.
GATA's international press release to publicize Blanchard report on gold lending
Submitted by cpowell on Thu, 2006-12-14 09:19 Section: Daily DispatchesGATA: Secrecy of Gold Lending
Condemned in New Study
International Press Release
via Business Wire
Thursday December 14, 2006, 8:30a ET
http://biz.yahoo.com/bw/061214/20061214005415.html?.v=1
MANCHESTER, Conn. -- (BUSINESS WIRE) -- Lending of gold by central banks depresses the price and the only possible reasons for the secrecy around it are manipulation of the gold market and the enrichment, through inside information, of the financial houses to which central banks lend their gold, a study by New Orleans coin and bullion dealer Blanchard & Co. has found.
In Beijing, U.S. delegation presses 'currency flexibility'
Submitted by cpowell on Thu, 2006-12-14 01:29 Section: Daily DispatchesPaulson Plans to Press China on Currency
By Joe McDonald
Associated Press
Thursday, December 14, 2006
http://news.yahoo.com/s/ap/20061214/ap_on_bi_ge/china_us_trade
BEIJING -- U.S. Treasury Secretary Henry Paulson said Thursday he would press Beijing over market access and its currency as he and top Chinese officials opened talks amid demands by American critics for quick action on trade disputes.
U.S. mortgage delinquency rate rises sharply
Submitted by cpowell on Thu, 2006-12-14 01:22 Section: Daily DispatchesLate Mortgage Payments Jump in Summer
By Jeannine Aversa
Associated Press
Wednesday, December 13, 2006
http://news.yahoo.com/s/ap/20061213/ap_on_bi_ge/late_mortgages
Late mortgage payments shot up in the third quarter as higher interest rates squeezed budgets and made it harder for homeowners -- especially those with weaker credit records -- to keep up with their monthly obligations.
No inflation? U.S. Mint would ban melting pennies, nickels
Submitted by cpowell on Thu, 2006-12-14 01:16 Section: Daily DispatchesU.S. Mint Bans
Melting Pennies, Nickels
By Matin Crutsinger
Associated Press
Thursday, December 14, 2006
http://news.yahoo.com/s/ap/20061214/ap_on_bi_ge/mint_coins
Given rising metal prices, the pennies and nickels in your pocket are worth more melted down than their face value -- and that has the government worried.
U.S. Mint officials said Wednesday they were putting into place rules prohibiting the melting down of 1-cent and 5-cent coins. The rules also limit the number of coins that can be shipped out of the country.
Secrecy of central bank gold lending condemned in new study
Submitted by cpowell on Wed, 2006-12-13 21:45 Section: Daily Dispatches9:37p ET Wednesday, December 13, 2006
Dear Friend of GATA and Gold:
Lending of gold by central banks depresses the price and the only possible reasons for the secrecy around it are manipulation of the gold market and the enrichment, through inside information, of the financial houses to which central banks lend their gold, a study by New Orleans coin and bullion dealer Blanchard & Co. has found.
Jeffrey Saut: Our unnatural makets and the mysterious buyers from Mars
Submitted by cpowell on Wed, 2006-12-13 20:15 Section: Daily DispatchesBy Jeffrey Saut
Chief Investment Strategist
Raymond James Financial Inc.
Monday, December 11, 2006
http://www.raymondjames.com/inv_strat.htm
Well, it finally happened. Last week one of my own gang called me Doctor Doom. I guess it was inevitable because in this business if you are not forecasting Dow 20,000 you are deemed a bear. However, the veiled reference to Doctor Doom and Doctor Gloom of an era gone by is not exactly appropriate. Indeed, the dynamic duo of Dr. Henry Kaufman (Doctor Doom) and Dr. Albert Wojnilower (Doctor Gloom) were the market gurus of the day in the 1970s and were predicting the end of the economic world as we knew it. Clearly that has not been our mantra, as anyone reading these missives since 1999 knows.
Inflation is four times higher than CPI, U.S. economist says
Submitted by cpowell on Wed, 2006-12-13 14:14 Section: Daily DispatchesGold's Rise Points to Inflation;
Actual Rate Much Higher
Than CPI, U.S. Economist Says
By Jonathan Chevreau
Financial Post / National Post, Toronto
Wednesday, December 13, 2006
http://www.canada.com/nationalpost/columnists/story.html?id=2f254b6d-c44...
The real annual inflation rate is closer to 8% than the 2% or 3% governments claim, a prominent U.S. economist said yesterday.
Canadian gold stock index replaced with a global one
Submitted by cpowell on Wed, 2006-12-13 12:05 Section: Daily DispatchesGold Index Takes Global Turn,
but Canadian Names Dominate
New S&P Vehicle More Inviting
to Investors Seeking Commodity Play
By David Parkinson
The Globe and Mail, Toronto
Wednesday, December 13, 2006
http://www.theglobeandmail.com/servlet/story/LAC.20061213.RGOLD13/TPStor...
Farewell, S&P/TSX capped gold index. Hello, world.
After the end of trading this Friday, Standard & Poor's, the Toronto Stock Exchange's index provider, will no longer publish its separate subindex of the Canadian gold mining stocks contained in the S&P/TSX composite index. In its place Monday morning will be the S&P/TSX global gold index, which will exist outside of the composite and will be made up not just of Canadian gold stocks, but of all the world's biggest publicly traded gold miners.
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