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Daily Dispatches
Will U.S. dollar coins build acceptance of monetary debasement?
Submitted by cpowell on Sun, 2007-02-18 13:03 Section: Daily Dispatches1p ET Sunday, February 18, 2007
Dear Friend of GATA and Gold:
While replacing the U.S. dollar bill with dollar coins would be more efficient for the Treasury Department, and while there is plenty of precedent in other countries for it (in Canada and the European Union the smallest paper currency note is for five of the basic currency units), gold and silver sympathizers probably can't help wondering if there might not be more to it in the United States.
Russian miner bids for AngloGold
Submitted by cpowell on Sun, 2007-02-18 11:51 Section: Daily DispatchesRussians Covet AngloGold
By John Waples
The Times, London
Sunday, February 18, 2007
http://business.timesonline.co.uk/tol/business/article1400181.ece
Russia's Polyus Gold, which is preparing for a London listing, has approached Anglo American to buy its £2.25 billion stake in another mining company, AngloGold Ashanti.
If this were to happen, it would turn Polyus into one of the world's most powerful gold producers. Polyus has indicated it would like to buy part or all of the stake.
John Mauldin: Gold is rising in all currencies
Submitted by cpowell on Sat, 2007-02-17 18:31 Section: Daily Dispatches6:30p ET Saturday, February 17, 2007
Dear Friend of GATA and Gold:
In new commentary, John Mauldin of Millennium Wave Advisers notes, as GoldMoney founder and GATA consultant James Turk long has been noting, that gold is now rising in all major currencies.
Mauldin also quotes Dennis Gartman of The Gartman Letter as acknowledging that someone is trying to cap the gold price at $670 and that "it may be a government." In other recent commentary Gartman has said that he doesn't know who is suppressing gold and doesn't care. This may be construed to mean that he doesn't dare ask. But since Gartman now has acknowledged, in effect, that GATA just MIGHT be right about gold, maybe his apology for years of ridiculing those who have been complaining about the gold price suppression scheme will turn up in Monday's mail.
U.S. Rep. Ron Paul: Proposals for transparency at the Fed
Submitted by cpowell on Sat, 2007-02-17 16:06 Section: Daily DispatchesStatement for Hearing
House Financial Services Committee
"Monetary Policy and the State of the Economy"
Thursday, February 15, 2007
By U.S. Rep. Ron Paul
http://www.house.gov/paul/congrec/congrec2007/cr021507.htm
Transparency in monetary policy is a goal we should all support. I've often wondered why Congress so willingly has given up its prerogative over monetary policy. Astonishingly, Congress in essence has ceded total control over the value of our money to a secretive central bank.
Jason Hommel: Has the IMF admitted GATA is right?
Submitted by cpowell on Fri, 2007-02-16 18:04 Section: Daily Dispatches6p ET Friday, February 16, 2007
Dear Friend of GATA and Gold:
Silver Stock Report editor Jason Hommel has reviewed the International Monetary Fund's concern that its rules allow central banks to double-count their gold, to count leased gold as if it is gold still in the vault. Hommel's essay is titled "Has the IMF Admitted GATA Is Right?" and you can find it at Silver Stock Report here:
Ecuador pays bond interest after all, prompting talk of market manipulation
Submitted by cpowell on Fri, 2007-02-16 01:27 Section: Daily DispatchesBy Joanna Chung and Hal Weitzman
Financial Times, London
via Yahoo News
Thursday, February 15, 2007
http://news.yahoo.com/s/ft/20070215/bs_ft/fto021520071659174844;_ylt=ApU...
Ecuador's bond market remained volatile on Thursday in the wake of the government's surprise decision to pay interest on its debt as scheduled -- only a few days after it said the payment would be delayed.
Freeport will end Phelps Dodge's hedging of copper
Submitted by cpowell on Thu, 2007-02-15 17:25 Section: Daily DispatchesFrom Reuters
via Yahoo News
Thursday, February 16, 2007
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reut...
NEW YORK -- Freeport-McMoRan Copper & Gold Inc.will end Phelps Dodge Corp.'s policy of hedging on copper prices when it acquires the rival miner, Freeport's chief executive said on Thursday.
GATA sympathizers invited to lunch in Melbourne
Submitted by cpowell on Thu, 2007-02-15 10:49 Section: Daily Dispatches10:45a ET Thursday, February 15, 2007
Dear Friend of GATA and Gold:
GATA sympathizers around Melbourne, Australia, are invited to an informal lunch at noon on Monday, March 12, at the Limerick Arms Hotel, 364 Clarendon St., South Melbourne, an event organized by our friend David Evans. A "GATA" sign will be posted at the hotel to help everyone locate the event. Reservations to David will be very helpful, and he can be reached at David.Evans@sciencespeak.com. Thanks to David for putting this together.
China doesn't seem to see an end to commodities boom
Submitted by cpowell on Wed, 2007-02-14 23:07 Section: Daily DispatchesChina Changes Rules
of the Resource Game
By Julian Hewitt
The Mail & Guardian, Johannesburg
Tuesday, February 13, 2007
http://www.mg.co.za/articlePage.aspx?articleid=298761&area=/insight/insi...
When I left South Africa, a talk by Clem Sunter titled "China's Game" was ringing in my ears.
Clem talked about the rules of the game China is playing in its unprecedented drive to industrialise a 1.3-billion strong population. What struck me was China's dependence on natural resources to continue its impressive growth trajectory. One of the major rules of China's game requires it to establish massive and sustainable supply lines to secure resources that fuel its vast factory-floor economic model.
John Embry: Great performance of gold, silver is practically a secret
Submitted by cpowell on Wed, 2007-02-14 22:17 Section: Daily Dispatches10:12p ET Wednesday, February 14, 2007
Dear Friend of GATA and Gold:
In his latest commentary for Investor's Digest of Canada, Sprott Asset Management's chief investment strategist, John Embry, notes that gold and silver again delivered superior returns in 2006 but ordinary investors would never know it from the establishment news media. Embry predicts that these returns are only going to get better as the U.S. dollar disintegrates. You can find Embry's commentary, "Returns on Gold and Silver Surpass Most Others Again," at the Sprott Internet site here:
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