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Daily Dispatches
Unconventional St. Louis money manager invests only in mining companies
Submitted by cpowell on Fri, 2007-02-02 17:01 Section: Daily DispatchesBy Greg Edwards
St. Louis Business Journal
Friday, February 2, 2007
http://stlouis.bizjournals.com/stlouis/stories/2007/02/05/focus1.html?b=...
Money manager Wistar Holt, who invests exclusively in companies that mine gold, shakes his head when he talks about his lonely outpost in the St. Louis investment community.
"Gold has been the top-performing sector five of the last six years, yet I don't know anyone else in St. Louis who is even recommending it," he said. "Could you imagine the commotion Wall Street would make if any other sector -- particularly the tech sector -- had that same performance?"
St. Louis Business Journal notes GATA's work
Submitted by cpowell on Fri, 2007-02-02 16:52 Section: Daily DispatchesGold Says Central Banks
Suppressed Gold Prices
By Greg Edwards
St. Louis Business Journal
Friday, February 2, 2007
http://stlouis.bizjournals.com/stlouis/stories/2007/02/05/focus2.html?b=...
Wistar Holt says he believes the price of gold has been kept artificially low by what amounts to an international price-fixing conspiracy. It's not a mainstream view, but he's not alone.
Neal Ryan's research note turns into essay at MineWeb
Submitted by cpowell on Fri, 2007-02-02 16:27 Section: Daily Dispatches4:25p ET Friday, February 2, 2007
Dear Friend of GATA and Gold:
MineWeb had Blanchard & Co. research director Neal R. Ryan elaborate on his research note GATA dispatched to you yesterday. It is now an essay headlined "The Reasons Why Proposed IMF Gold Sales Won't Happen" and you can find it here:
http://www.mineweb.net/american_notes/606828.htm
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Fishy stuff in gold market is making it into news reports
Submitted by cpowell on Fri, 2007-02-02 16:05 Section: Daily Dispatches4p ET Friday, February 2, 2007
Dear Friend of GATA and Gold:
Even as gold is down, it's a great day when GATA sympathizers constitute the majority of analysts quoted in the CBSMarketWatch report on the gold market, as was the case today in the report appended here, quoting, among others, GoldSeek's Peter Spina, Blanchard & Co.'s Neal Ryan, and Peter Grandich of the Grandich Letter. Ryan notes the "counter-intuitive moves" in gold -- that is, fishy stuff -- and Grandich cites the enduring coincidence of bear raids on gold whenever U.S. employment figures are announced. With a little help from our friends, the world is figuring it out.
Congressional investigators to report on credit derivatives
Submitted by cpowell on Fri, 2007-02-02 00:50 Section: Daily DispatchesFrom Reuters
Thursday, February 1, 2007
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reut...
WASHINGTON -- Investigators for the U.S. Congress on Thursday pledged to issue a report by June 27 on the use of information technology in the credit derivatives market, responding to a request from lawmakers concerned about trade confirmation backlogs and economic stability.
Blanchard & Co. research note: IMF can't scare gold anymore
Submitted by cpowell on Thu, 2007-02-01 12:12 Section: Daily DispatchesBy Neal R. Ryan
Blanchard & Co., New Orleans
Thursday, February 1, 2007
Gold is breaking out of a range between $640-650. We should see prices continue rising toward to the $680 range with little resistance and then need a new period of consolidation before setting off to challenge the May 2006 highs of $730.
So the big news out yesterday after the FOMC non-event meeting was the recommendation from the International Monetary Fund's panel of distinguished current and former central bankers calling for the IMF to sell 400 tonnes of gold to help plug the IMF's operating budget deficits. There are a number of reasons why this probably won't happen, but should it still come to pass, it will give the gold market yet another bullish signal on prices.
FNArena notes IMF gold sale idea and GATA
Submitted by cpowell on Thu, 2007-02-01 10:37 Section: Daily Dispatches10:31a ET Thursday, February 1, 2007
Dear Friend of GATA and Gold:
FNArena's Greg Peel takes note of the latest IMF gold sale idea and GATA's reaction to it in commentary headlined "IMF May Sell 400 Tonnes of Gold," which you can find here:
http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=7BAE3DD5-17A4-1130...
Or try this abbreviated link:
There's gonna be a great day
Submitted by cpowell on Wed, 2007-01-31 22:01 Section: Daily Dispatches9:52p ET Wednesday, January 31, 2007
Dear Friend of GATA and Gold:
IMF would sell gold because European central banks won't anymore
Submitted by cpowell on Wed, 2007-01-31 21:50 Section: Daily DispatchesBy Michael Kosares
Centennial Precious Metals, Denver
www.USAGold.com
Wednesday, January 31, 2007
I don't think we are going to see any sale of gold by the International Monetary Fund. It looks like the Central Bank Gold Agreement's inability to reach the 500-tonne quota for the 2006 agreement year (only 350 tonnes were sold) left more of an impression than any of us realized.
The IMF's Committee of Eminent Persons, which interestingly included the head of the Chinese central bank and former Fed Chairman Alan Greenspan, is saying essentially that the IMF "could" supply the shortage left if the Central Bank Gold Agreement can't meet the 500-tonne allotment in the future. This translates to market neutral because, theoretically, whether the IMF sold gold or not, no more than 500 tonnes would go on the market over the CBGA year.
Venezuela gets a fuhrer
Submitted by cpowell on Wed, 2007-01-31 20:30 Section: Daily DispatchesChavez Gains Free Rein in Venezuela
By Fabiola Sanchez
Associated Press
Wednesday, January 31, 2007
http://news.yahoo.com/s/ap/20070201/ap_on_re_la_am_ca/venezuela_chavez;_...
CARACAS, Venezuela -- President Hugo Chavez was granted free rein Wednesday to accelerate changes in broad areas of society by presidential decree, a move critics said propels Venezuela toward dictatorship.
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