You are here
Daily Dispatches
China looking for ways to tiptoe out of huge dollar surplus
Submitted by cpowell on Mon, 2006-10-30 08:21 Section: Daily DispatchesForeign Exchange Reserves
Set to Surpass US$1 Trillion
By Jin Rong
China Daily, Beijing
Monday, October 30, 2006
http://www.chinadaily.com.cn/bizchina/2006-10/30/content_719467.htm
China's foreign exchange reserves look set to hit the US$1 trillion mark at the end of this month or beginning of November. But as the figure rises, so does the debate over how to best manage it.
The reserves, already the world's biggest, surged to US$987.9 billion at the end of September, largely driven by a burgeoning foreign trade surplus and massive inflow of foreign direct investment (FDI).
... When there's so much other money lying around?
Submitted by cpowell on Mon, 2006-10-30 00:07 Section: Daily DispatchesGlobal Cash Glut
Fuels Investment Frenzy,
Pushing Up Rates
By John Fraher and Simon Kennedy
Bloomberg News Service
Monday, October 30, 2006
http://www.bloomberg.com/apps/news?pid=20601103&sid=azWr55nygFyE&refer=us
Markets around the world are awash in excess cash, fueling a frenzy of investment from London to Tokyo that may lead central banks to push interest rates higher than investors now anticipate.
Why would anyone want gold? ....
Submitted by cpowell on Mon, 2006-10-30 00:01 Section: Daily DispatchesGold Supply Likely
to Swamp Demand
By Simon Constable
TheStreet.com
Sunday, October 29, 2006
http://www.thestreet.com/_yahoo/markets/commodities/10318321.html?cm_ven...
An increasing surplus of bullion relative to demand could mean bad news for gold bulls, if the predictions of a new report prove accurate.
Although the supply of gold looks set to drop by 159 metric tons for 2007, demand will plummet even faster, lower by 313 tons when compared to revised estimates for the whole of 2006, according to a new study scheduled for publishing Monday morning by Fortis Bank. The report was authored by a team of analysts led by veteran gold market watcher Jessica Cross, CEO at Virtual Metals, a London-based specialty consulting firm.
Dmitri Speck: Gold market interventions
Submitted by cpowell on Sun, 2006-10-29 14:24 Section: Daily Dispatches2:22p ET Sunday, October 29, 2006
Dear Friend of GATA and Gold:
Dimitri Speck's address to the International Precious Metals and Commodities Convention in Munich this month has been posted at Gold-Eagle. It's titled "Gold Market Internventions" and it documents and charts the suppression brought to bear against the gold price, particularly during New York trading hours. You can find it here:
Deal with operators completes Bolivia's oil and gas nationalization
Submitted by cpowell on Sun, 2006-10-29 10:32 Section: Daily DispatchesBy Dan Keane
Associated Press
Sunday, October 29, 2006
http://news.yahoo.com/s/ap/20061029/ap_on_re_la_am_ca/bolivia_nationaliz...
President Evo Morales completed his ambitious oil and gas nationalization plan early Sunday with the last-minute signing of contracts allowing several international companies to continue operating in Bolivia under state control.
Just after a midnight Saturday deadline to wrap up the nationalization talks, Morales joined representatives of eight companies for the signing ceremony in the capital of La Paz, achieving one of his 9-month-old government's central goals.
Top U.S. govt. accountant warns of economic disaster
Submitted by cpowell on Sat, 2006-10-28 16:43 Section: Daily DispatchesBy Matt Crenson
The Associated Press
Saturday, October 28, 2006
http://news.yahoo.com/s/ap/20061028/ap_on_go_ot/america_the_bankrupt
David M. Walker sure talks like he's running for office. "This is about the future of our country, our kids and grandkids," the comptroller general of the United States warns a packed hall at Austin's historic Driskill Hotel. "We the people have to rise up to make sure things get changed."
James Turk: The dollar weakens while gold strengthens
Submitted by cpowell on Fri, 2006-10-27 12:31 Section: Daily Dispatches12:25p ET Friday, October 27,
Dear Friend of GATA and Gold:
Goldmoney founder James Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, does more technical analysis of gold and silver prices with his new essay, "The Dollar Weakens While Gold Strengthens." He suggests that gold and silver investors hold on for another couple of weeks and take a look at the world after the U.S. elections. You can find Turk's essay in the "Founder's Commentary" box at the top left of the GoldMoney home page here:
Peter Brimelow: Bulls bask, but bears and bugs regrouping
Submitted by cpowell on Thu, 2006-10-26 08:37 Section: Daily DispatchesBy Peter Brimelow
CBSMarketWatch.com
Thursday, October 26, 2006
http://www.marketwatch.com/news/story/Story.aspx?guid=%7B8C8FB303%2D1702...
NEW YORK -- Don R. Hays of the respected Hays Advisory institutional service was his superbullish self Wednesday, and that's before the Dow Jones Industrial Average made a third successive record high close as the Fed again declined to tighten.
GATA holds reception at New Orleans conference Nov. 18
Submitted by cpowell on Thu, 2006-10-26 08:22 Section: Daily Dispatches8:19a ET Thursday, October 26, 2006
Dear Friend of GATA and Gold:
The Gold Anti-Trust Action Committee invites its friends to an evening reception in a historic setting during and just a few blocks from the 2006 New Orleans Investment Conference:
Saturday, November 18, 2006
7-9 p.m.
Latrobe's on Royal
403 Royal St.
New Orleans, Louisiana
Tickets: $30 per person
Complimentary beer, wine, and hors d'oeuvres
Treasury's Paulson plays with the plunge protectors
Submitted by cpowell on Thu, 2006-10-26 08:02 Section: Daily DispatchesBy John Crudele
New York Post
Thursday, October 26, 2006
http://www.nypost.com/seven/10262006/business/treasurys_paulson_plays_wi...
Pay attention!
Someone -- and I don't know who -- wants us all to know that since July Henry Paulson, the new secretary of the U.S. Treasury, has spent a lot of time on a little known Washington operation called the President's Working Group on Financial Markets.
Pages
