Daily Dispatches

2:18p ET Tuesday, June 3, 2008

Dear Friend of GATA and Gold:

GATA does not advocate any particular monetary arrangements other than free-market and transparent arrangements, but it's unlikely that anyone in GATA would disagree with Lew Rockwell's conclusion in his new essay, "The Cause That Won't Go Away." Rockwell writes:

By Anastasija Johnson
Reuters
Monday, June 2, 2008

http://www.reuters.com/article/ousiv/idUSN0256564820080602

NEW YORK -- Downgrades of three U.S. investment banks, an ouster of Wachovia's chief executive, and a bleak U.K. housing market outlook from a British mortgage lender shook markets on Monday, reigniting fears that the global credit crunch will continue to hurt the world economy.

8:21a ET Monday, June 2, 2008

Dear Friend of GATA and Gold:

GoldMoney founder and GATA consultant James Turk writes that he's "Waiting for the Dollar's Next New Low," even as Treasury Secretary Hank Paulson is traveling the world defending the dollar's reserve currency status, which one supposes he wouldn't be doing if the dollar's reserve currency status wasn't in question:

Saudis Agree with Paulson on Keeping Dollar Peg

John Brinsley
Bloomberg News Service
Saturday, May 31, 2008

http://www.bloomberg.com/apps/news?pid=20601087&sid=ay8XOXdaLAOg&refer=home

JEDDAH, Saudi Arabia -- U.S. Treasury Secretary Henry Paulson and Saudi Arabian Finance Minister Ibrahim Al-Assaf agreed that the Gulf kingdom benefits from keeping its currency pegged to the dollar.