Investment demand will break central bank gold cartel


A Summer Tip for Arabian Investors: Gold shares

From AME Info, Dubai
Wednesday, July 26, 2006

Barrick Gold has paid $1.3 billion to buy the much smaller gold mining company Nova Gold which was one of the six stocks tipped for 2006 by James Saks in this column last December. Investors in NovaGold have clearly made a quick buck, but what does it say about the outlook for gold mining stocks?

Ted Butler: Locked and loaded


Dear Friend of GATA and Gold:

Silver market analyst Ted Butler's new commentary
examines the ever-more-concentrated and manipulative short position in silver and warns potential investors in the New York Mercantile Exchange of the fraud under way there. Butler's commentary, "Locked and Loaded," can be found at GoldSeek's companion site, SilverSeek, here:

4 brokers, including Goldman Sachs, fined for breaking short-sales rule


From Reuters
Monday, July 24, 2006

NEW YORK -- NYSE Group Inc. said on Monday it fined four firms a total of $1.25 million, saying they violated a U.S. Securities and Exchange Commission rule on short selling.

It censured and fined Daiwa Securities America Inc., a subsidiary of Japan-based brokerage Daiwa Securities Group Inc., Goldman Sachs Execution & Clearing, part of Goldman Sachs Group Inc., Citigroup Global Markets, Inc., a subsidiary of Citigroup Inc., and Credit Suisse Securities, part of Credit Suisse Group.

Israel Friedman: Physical silver, yes; speculation, no


5:24p ET Wednesday, July 19, 2006

Dear Friend of GATA and Gold:

Israel Friedman, mentor to silver market analyst Ted Butler, has taken over the commentary of his student this week with "Physical Silver, Yes; Speculation, No," posted at GoldSeek's companion site, SilverSeek, here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Acti

Top bond manager expects Fed to cut interest rates by January


From Reuters
Thursday, July 13, 2006

NEW YORK -- Yields on the benchmark U.S. Treasury Note should fall 1 percentage point from current levels as economic growth softens and the Fed is finally forced to reverse its campaign of lifting borrowing costs, bond fund manager Bill Gross said on Thursday.

Coalition urges dollar devaluation to regain jobs in U.S.


Coalition Urges Government
to Lower Dollar Value

By Kylene Kiang
Cox News Service
via The Western Star, Lebanon, Ohio
Thursday, July 13, 2006

WASHINGTON -- Academic, business, and labor groups called on the Bush administration Wednesday to lower the value of the dollar in order to alleviate the country's ballooning trade deficit and its adverse effects on American industry.

U.S. may be going bankrupt, Federal Reserve consultant warns


By Edmund Conway
The Telegraph, London
Friday, July 14, 2006

The United States is heading for bankruptcy, according to an extraordinary paper published by one of the key members of the country's central bank.

A ballooning budget deficit and a pensions and welfare timebomb could send the economic superpower into insolvency, according to research by Professor Laurence Kotlikoff for the Federal Reserve Bank of St. Louis, a leading constituent of the U.S. Federal Reserve.

Surge in gold options above $1,000 hints at hedge fund interest


By Ambrose Evans-Pritchard
The Telegraph, London
Friday, July 14, 2006

A sudden surge in demand for gold options cashable at over $1,000 an ounce is the clearest sign to date that hedge funds and savvy traders are betting on a big rise in bullion prices.

UBS said investors had begun to show keen interest in "call" options to expire in December with strike prices of $1,000 an ounce and above.

Syria moves reserves to euros and will end dollar peg this year


By Dania Saadi
Bloomberg News Service
Tuesday, July 11, 2006

CAIRO -- Syria, accused by the U.S. of supporting terrorism, plans to end its currency peg to the dollar by December to reflect closer trade ties with Europe, central bank Governor Adib Mayaleh said.

The Central Bank of Syria has already converted half its foreign-exchange reserves to euros, Mayaleh said in a telephone interview from Damascus, without being more specific. Syria's reserves, including gold, totaled $4.1 billion at the end of 2005, according to

He got everything right except the safe-deposit box


Man Turns Granddad's Coins into Pure Gold

By Terry Savage
Chicago Sun-Times
Monday, July 10, 2006

Nick Dorado e-mailed me with a problem: Too much money!

To be more specific, he literally had pounds and pounds of coins, collected and saved by his grandfather. He stored them in a safe-deposit box for years, always wondering if he had some rare penny or other collector's item that would be worth far more than its face value.