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Daily Dispatches
Hedge-fund hardball: How Amaranth was devoured by its banker, MorganChase
Submitted by cpowell on Tue, 2007-01-30 01:06 Section: Daily DispatchesHedge-Fund Hardball
Amid Amaranth's Crisis,
Other Players Profited
Goldman Offered Deal;
J.P. Morgan Balked,
Then Did One Itself
By Ann Davis, Gregory Zuckerman, and Henny Sender
The Wall Street Journal
Tuesday, January 30, 2007
When Amaranth LLC collapsed in the fall, after swiftly losing more than $6 billion, it was the biggest hedge-fund failure ever. Now as investors slowly get back what's left of their money, it's becoming clear the debacle also had some big winners: other players in the high-stakes energy market who profited from a crippled rival's travails.
Ron Struthers: New commodities index is a lie
Submitted by cpowell on Mon, 2007-01-29 21:05 Section: Daily Dispatches8:50p ET Monday, January 29, 2007
Dear Friend of GATA and Gold:
Ron Struthers, editor of Struthers' Resource Stock Report, reports that the new Reuters/CRB commodities price index, introduced in July 2005, shows a plunge in commodity prices even as a calculation of the index according to its former parameters shows a steady increase continuing. The new index, Struthers writes, "has only one purpose and that is to mislead the investment community. It is simply another tool in the Fed/government's chest for the management of economic data."
David Bond reports on Vancouver conference, pro-gold speech by RBC's Fell
Submitted by cpowell on Mon, 2007-01-29 19:45 Section: Daily Dispatches7:45p ET Monday, January 29, 2007
Dear Friend of GATA and Gold:
Veteran mining journalist David Bond reports on the Vancouver conference and RBC Capital Markets chief Anthony Fell's salute to gold and his denunciation of central bank mismanagement of the world financial system. This great read is headlined "PEEDAC Will Be on Steroids" and you can find it at GoldSeek's companion site, SilverSeek, here:
MineWeb: China scrambles for African mineral resources
Submitted by cpowell on Mon, 2007-01-29 14:17 Section: Daily Dispatches2:14p ET Monday, January 29, 2007
Dear Friend of GATA and Gold:
MineWeb's Alec Hogg reports from Davos, Switzerland, about international recognition that China is aggressively pursuing natural resources in Africa -- a good way of spending all those extra U.S. dollars. You can find Hogg's report, "New Scramble for African Mineral Resources Developing," here:
James Turk comments on International Speculator report on GATA's work
Submitted by cpowell on Mon, 2007-01-29 12:02 Section: Daily Dispatches11:59a ET Monday, January 29, 2007
Dear Friend of GATA and Gold:
GoldMoney founder and Free Market Gold & Money Report editor James Turk has some interesting comments on the interview done with your secretary/treasurer by Doug Hornig of Doug Casey's International Speculator letter. You can find Turk's comments, headlined "Is the Gold Price Being Managed?," in the "Founder's Commentary" box at the top left of the GoldMoney home page here:
Even central banks can't figure out market risks now
Submitted by cpowell on Mon, 2007-01-29 08:51 Section: Daily DispatchesECB Head Warns About
'Unstable' Markets
By Gillian Tett
Financial Times, London
Sunday, January 28, 2007
http://www.ft.com/cms/s/1a94c8be-af15-11db-a446-0000779e2340,_i_rssPage=...
DAVOS, Switzerland -- Conditions in global financial markets look potentially "unstable," suggesting investors need to prepare for a "repricing" of some assets, Jean-Claude Trichet, president of the European Central Bank, said over the weekend in Davos.
'Debt and Delusion' author Peter Warburton to address May 10 CMRE meeting
Submitted by cpowell on Sun, 2007-01-28 14:22 Section: Daily Dispatches2:17p ET Sunday, January 28, 2007
Dear Friend of GATA and Gold:
The agenda for the spring dinner meeting of the Committee for Monetary Research and Education, to be held Thursday evening, May 10, in New York City, has been updated to include a tremendous new speaker: Peter Warburton, the British economist and author of "Debt and Delusion," which, published in 1999, showed how the central banks were imperiling the world's economy.
'Debt and Delusion' author Peter Warburton to address May 10 CMRE meeting
Submitted by cpowell on Sun, 2007-01-28 14:20 Section: Daily Dispatches2:17p ET Sunday, January 28, 2007
Dear Friend of GATA and Gold:
The agenda for the spring dinner meeting of the Committee for Monetary Research and Education, to be held Thursday evening, May 10, in New York City, has been updated to include a tremendous new speaker: Peter Warburton, the British economist and author of "Debt and Delusion," which, published in 1999, showed how the central banks were imperiling the world's economy.
IMF gold trading rules changes are set to boost gold price
Submitted by cpowell on Sun, 2007-01-28 12:33 Section: Daily DispatchesFrom AMEInfo.com, Dubai
Sunday, January 28, 2007
http://www.ameinfo.com/108894.html
The International Monetary Fund is in the process of revising the laws that govern the trading of gold by the world's central banks, which will radically change the ability of central bankers to suppress the gold price, a major factor depressing the price of the yellow metal that has been an open secret for years.
Jason Hommel reports on silver, Vancouver, and GATA
Submitted by cpowell on Sat, 2007-01-27 20:14 Section: Daily Dispatches8:10p ET Saturday, January 27, 2007
Dear Friend of GATA and Gold:
Silver Stock Report editor Jason Hommel reports on silver, particular silver mining companies, the Vancouver conference, and GATA's growing acceptance. You can find Hommel's commentary at the Silver Stock Report site here:
http://silverstockreport.com/2007/review.html
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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