You are here
Daily Dispatches
Britain's official inflation numbers are all lies too
Submitted by cpowell on Mon, 2006-12-04 15:30 Section: Daily DispatchesRevealed: The Real
Rate of Inflation
By Edmund Conway
The Telegraph, London
Monday, December 4, 2006
http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2006/12/04/ninflati...
The cost of living for many British households is up to four times the Government's published rate of inflation, The Daily Telegraph can reveal.
Millions of families are experiencing inflation far beyond the official rate of 2.4 per cent, new research suggests.
Agnico-Eagle's huge success: organic growth, no hedging
Submitted by cpowell on Mon, 2006-12-04 14:43 Section: Daily Dispatches2:25p ET Monday, December 4, 2006
Dear Friend of GATA and Gold:
Today's Financial Post / National Post in Canada has a wonderful profile of Agnico-Eagle Mines Ltd., GATA's oldest financial supporter among producing mining companies. The company has reaped spectacular success in recent years by avoiding hedging and concentrating on what this profile calls organic growth.
Continuing its support, Agnico-Eagle was a sponsor of GATA's reception at the New Orleans Investment Conference last month. The company has been with us from the beginning, back in the days when it was considered bad for business and before GATA's case was proved and widely accepted. So we're deeply grateful for Agnico-Eagle's principled and fearless work on behalf of the gold cause and delighted with its well-earned recognition here.
Another Chinese scholar argues for shifting into gold
Submitted by cpowell on Mon, 2006-12-04 14:26 Section: Daily DispatchesChina Should Increase
Forex Holdings in Gold
By Gao Jie
People's Daily Online, Beijing
Monday, December 4, 2006
http://english.peopledaily.com.cn/200612/04/eng20061204_328023.html
China's foreign exchange reserves have become a thorny issue for the government.
Experts around the world have suggested ways in which China might address the surplus of foreign exchange reserves. However, many of these simply involve consuming the excess which could easily lead to inflation.
Weak dollar will figure in OPEC's decision on production
Submitted by cpowell on Mon, 2006-12-04 14:13 Section: Daily DispatchesOPEC to take weak dollar into account
By Ghaida Ghantous and Karin Strohecker
Rtuers
Monday, December 4, 2006
http://news.yahoo.com/s/nm/20061204/bs_nm/oil_opec_dc_7
OPEC is worried by a fall in the dollar that is eroding member states' purchasing power and ministers will take up the issue when they meet next week to discuss new output curbs.
On Monday the dollar hit a 20-month low against the euro, punishing producers who sell their oil in dollars, when they buy goods and services from Europe.
U.S. believed happy with decline of dollar if it's 'orderly'
Submitted by cpowell on Sun, 2006-12-03 21:47 Section: Daily DispatchesBy Jitendra Joshi
Agence France-Presse
Sunday, December 3, 2006
http://news.yahoo.com/s/afp/20061203/ts_afp/forexuspolitics_061203220206
The US administration appears unfazed as the dollar plummets on currency markets, giving a helpful trade boost during an economic slowdown, analysts believe.
But a danger lies in the dollar falling so far that it unleashes inflation, sparking retaliation by the Federal Reserve.
Goldman's top alumni wield White House clout
Submitted by cpowell on Sun, 2006-12-03 21:42 Section: Daily DispatchesBy Stephanie Kirchgaessner and Ben White
Financial Times, London
Sunday, December 3, 2006
http://us.ft.com/ftgateway/superpage.ft?news_id=fto120320061956506824&pa...
America's corporate elite has long upheld a tradition of joining Washington's corridors of power for a new career. JPMorgan executives gave counsel to President Woodrow Wilson during the first world war. President John F. Kennedy asked Robert McNamara, a war veteran who had risen to the top ranks of Ford, to become secretary of defence in 1960.
Bloomberg's weekly gold trader survey quotes GoldMoney's and GATA's Turk
Submitted by cpowell on Sun, 2006-12-03 18:53 Section: Daily DispatchesGold May Rise
for 3rd Week
as Dollar Slide
Spurs Demand
By Choy Leng Yeong
Bloomberg News Service
Monday, December 4, 2006
http://www.bloomberg.com/apps/news?pid=20601087&sid=adBzIdSVEjvo&refer=home
Gold may rise for a third straight week on speculation a slowing U.S. economy will erode the value of the dollar, increasing the appeal of the precious metal as an alternative investment.
Treasury secretary polls industry leaders before China trip
Submitted by cpowell on Sun, 2006-12-03 12:46 Section: Daily DispatchesBy Eoin Callan
Financial Times, London
Sunday, December 3, 2006
http://biz.yahoo.com/ft/061203/fto120320061053046778.html?.v=1
Hank Paulson, US treasury secretary, will on Monday begin a series of discussions with industry leaders to hammer out the Bush administration's policy towards China ahead of a high-level delegation to Beijing next week.
The former head of Goldman Sachs, an investment bank, will on Monday meet executives from manufacturing companies, including Procter & Gamble, before on Wednesday sitting down with financial services companies -- including Citigroup -- as well as those from other sectors.
William Pesek: Why Paulson faces disappointment in China
Submitted by cpowell on Sun, 2006-12-03 12:10 Section: Daily DispatchesBy William Pesek
Bloomberg News Service
Friday, December 1, 2006
http://www.bloomberg.com/apps/news?pid=20601039&sid=aNlktVN07lps&refer=home
If imitation is the highest form of flattery, then perhaps piracy is a globalization-age sign that you have made it in the world.
John Chan, a Shanghai-based business consultant, knows something about the phenomenon. Early this year, a businessman in Shanghai asked Chan to sign a copy of his 2003 book, "China Streetsmart." The 42-year-old was flabbergasted to see it was a pirated copy -- one made in China and bought in the U.S.
James Turk: The breakout gains momentum
Submitted by cpowell on Sun, 2006-12-03 11:32 Section: Daily Dispatches11:25a ET Sunday, December 3, 2006
Dear Friend of GATA and Gold:
GoldMoney's James Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, reports that gold continues its rise not just against the dollar but also against most major currencies as the markets begin to realize the scope of the monetary debasement under way worldwide. Turk's new commentary is titled "The Breakout Gains Momentum" and you can find it in the "Founder's Commentary" box at the top left of the GoldMoney home page here: