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Daily Dispatches

How to profit most from $1,000 gold: juniors and self-publicists

Section: Daily Dispatches

From AMEInfo.com, Dubai
Sunday, February 11, 2007

http://www.ameinfo.com/110276.html

Whether the International Monetary fund recasts its rulebook against the manipulation of the gold market by central banks, or Chinese and speculative buyers push up the price from $666 an ounce at the close last week, there is an emerging consensus that $1,000 is a reasonable target for the yellow metal. Leveraging off this trend then ought then to be a friend indeed.

G-7 presses China on yuan flexibility, wants hedge funds watched

Section: Daily Dispatches

By Matt Moore
Associated Press
via Yahoo News
Saturday, February 10, 2007

http://news.yahoo.com/s/ap/20070210/ap_on_bi_ge/germany_g7

ESSEN, Germany -- China came under renewed pressure Saturday from the Group of Seven to make its yuan more flexible, while Japan emerged from the meeting without a public scolding, despite criticism beforehand that its weakened yen was hurting other economies.

South African president pledges to hasten land redistribution

Section: Daily Dispatches

By Paul Simao
Reuters
via Yahoo News
Friday, February 9, 2007

http://news.yahoo.com/s/nm/20070209/wl_nm/safrica_mbeki_dc

CAPE TOWN, South Africa -- President Thabo Mbeki on Friday pledged to tackle poverty and crime and speed up land redistribution to blacks, signaling a new interventionist approach in fighting South Africa's glaring social ills.

In a speech marking the opening of parliament in Cape Town, Mbeki acknowledged the government needed to do more to help millions of unemployed, poor and landless South Africans living on the sidelines of the country's fast-growing economy.

Fed Reserve's Bies, policy centrist, to step down March 30

Section: Daily Dispatches

By David Lawder
Reuters
via Yahoo News
Friday, February 9, 2007

http://news.yahoo.com/s/nm/20070209/bs_nm/usa_fed_bies_dc

U.S. Federal Reserve Governor Susan Bies, a banking expert and monetary-policy centrist, will step down on March 30, the central bank said on Friday, marking the third top Fed official to announce a departure this year.

Bies, who has been a member of the Fed's Board of Governors since December 2001, does not plan to attend the March 20-21 meeting of the Federal Open Market Committee, the Fed said -- a customary practice for departing Fed board members.

Miners are dangerous foes for Bolivia's president

Section: Daily Dispatches

By Eduardo Garcia
Reuters
via Yahoo News
Friday, February 9, 2007

http://news.yahoo.com/s/nm/20070209/lf_nm/bolivia_miners_dc_1

Roger Mamani rides a rickety elevator deep underground, hikes through flooded tunnels and crawls through a maze of muddy burrows to dig silver ore at the San Jose mine in Bolivia's Andes.

As the 22-year-old crouches and breaks rock with a pickaxe, two fellow miners roll up dynamite in sheets of used notebook paper. They have two minutes to run to safety before a blast shakes tunnels propped up by splintered beams.

Doug Hornig: About those IMF gold sales

Section: Daily Dispatches

2:55p ET Friday, February 9, 2007

Dear Friend of GATA and Gold:

Doug Hornig of Doug Casey's International Speculator letter cites GATA and our friend Mike Kosares of USAGold.com/Centennial Precious Metals in an analysis "About Those IMF Gold Sales." Hornig concludes:

"If IMF sales do happen and if they depress gold's price, that's a buying opportunity ... for bullion and especially for the high-quality junior exploration stocks that pack the most punch in a rising gold market."

ROB-TV's Jim O'Connell interviews Sprott's John Embry

Section: Daily Dispatches

10:40p ET Thursday, February 8, 2007

Dear Friend of GATA and Gold:

There's something good on TV tonight and will be each night (and day) for a week: Sprott Asset Management's chief investment strategist, John Embry, was interviewed by Jim O'Connell on ROB-TV in Canada today. Embry talked about gold's and silver's prospects generally and about a lot of mining companies specifically. You can find the program in the Thursday 12:30 p.m. slot at the ROB-TV archive here:

Bolivia to seize mineral refinery

Section: Daily Dispatches

By Carlos Valdez
Associated Press
via Yahoo News
Thursday, February 8, 2007

http://biz.yahoo.com/ap/070208/bolivia_mining_nationalization.html?.v=3

LA PAZ, Bolivia -- President Evo Morales said Thursday he would nationalize a mineral processing plant owned by the Swiss mining company Glencore International AG, the first step of his plan to take control over a larger share of Bolivia's mineral wealth.

South Korea considers moving reserves into foreign stocks

Section: Daily Dispatches

By Song Jung-a and Florian Gimbel
Financial Times, London
via Yahoo News
Friday, February 9, 2007

http://news.yahoo.com/s/ft/20070209/bs_ft/fto020820071921434000

South Korea's central bank said yesterday it was considering investing part of the nation's huge international reserves in overseas stocks, and especially the blue chips of advanced countries, in an effort to gain higher returns.

Subprime mortgage bond risk surges, credit-swap index suggests

Section: Daily Dispatches

By Jody Shenn and Shannon D. Harrington
Bloomberg News Service
Thurdsay, February 8, 2007

http://www.bloomberg.com/apps/news?pid=20601087&sid=avxemW08upao&refer=home

NEW YORK -- The perceived risk of owning low-rated subprime mortgage bonds surged today after the two largest U.S. lenders reported growing problems stemming from the loans, an index of credit-default swaps suggests.

An index used to create swaps based on 20 BBB- rated bonds sold in the second half of 2006 and consisting of home loans to the riskiest borrowers fell 2.3 percent to about 88.5 today, the lowest since it was created Jan. 18, according to Deutsche Bank AG. The so-called ABX index was down 10 percent before today.

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