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Daily Dispatches
Adrian Ash: Fading the IMF
Submitted by cpowell on Fri, 2008-02-15 00:21 Section: Daily DispatchesBy Adrian Ash
The Rude Awakening
Thursday, February 14, 2008
http://www.agorafinancial.com/afrude/
The gold price now hovers near all-time record highs. Whereas the International Monetary Fund (IMF) finds itself short of $400 million per year. Can you guess what comes next?
That's right -- the IMF unloads some of its gold.
U.S. Govt. closes Internet site consolidating economic indicator reports
Submitted by cpowell on Thu, 2008-02-14 22:53 Section: Daily DispatchesBush Administration Hides More Data,
Shuts Down Website Tracking Economic Indicators
From The Center for American Progress
(Washington, D.C.)
Wednesday, February 13, 2008
Rescue for German bank aims to avoid crisis in confidence
Submitted by cpowell on Thu, 2008-02-14 07:46 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Thursday, February 14, 2008
http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=&xml=/mone...
Germany faced its "Northern Rock moment" last night as top ministers and bankers thrashed out a rescue plan to save IKB Deutsche Industrie Bank, fearing a "bank tsunami" if the struggling lender was allowed to fail.
Worried bankers seek to shift risk to Uncle Sam
Submitted by cpowell on Thu, 2008-02-14 02:55 Section: Daily DispatchesBy Damian Paletta
The Wall Street Journal
Thursday, February 14, 2008
WASHINGTON -- The banking industry, struggling to contain the fallout from the mortgage debacle, is urgently shopping proposals to Congress and the Bush administration that could shift some of the risk for troubled loans to the federal government.
Debt crisis spreads to U.S. municipalities
Submitted by cpowell on Wed, 2008-02-13 20:16 Section: Daily DispatchesBy Aline van Duyn and Michael Mackenzie
Financial Times, London
Wednesday, February 13, 2008
http://www.ft.com/cms/s/0/4e5d3dec-da8a-11dc-9bb9-0000779fd2ac.html?ncli...
A collapse in confidence in a $330 billion corner of the debt market has left US municipalities and student loan providers facing spiralling interest rate costs.
GATA's message slowly seeps into the financial mainstream
Submitted by cpowell on Wed, 2008-02-13 15:31 Section: Daily Dispatches3:30p ET Wednesday, February 13, 2008
Dear Friend of GATA and Gold:
Today brought more evidence that GATA's message is slowly seeping into the financial mainstream. It comes in commentary by a couple of currency strategists, Kathy Lien and Boris Schlossberg, at Minyanville, "Gold Reaching for the Sky," and you can find it here:
Ted Butler: Back to basics
Submitted by cpowell on Wed, 2008-02-13 12:51 Section: Daily Dispatches12:48p ET Wednesday, February 13, 2008
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler says that if you ever get tired of trying to figure out the daily movements of the silver price, you can find refuge in silver's fundamentals, which he lays out in his new essay, "Back to Basics," at GoldSeek's companion site, SilverSeek, here:
Depression risk may force government to buy many assets, analyst says
Submitted by cpowell on Wed, 2008-02-13 12:21 Section: Daily DispatchesBy John Parry
Reuters
Tuesday, February 12, 2008
http://www.reuters.com/article/newsOne/idUSGOR27660220080212?sp=true
U.S. credit crisis escalates as mortgage defaults spread
Submitted by cpowell on Wed, 2008-02-13 11:49 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, February 13, 2008
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/13/cnusa1...
Defaults in the US housing market are spreading from sub-prime to the much larger stock of top-grade housing debt, threatening to set off a wave of even bigger losses for banks and investment funds.
No hiding huge inflation in Britain anymore
Submitted by cpowell on Mon, 2008-02-11 23:59 Section: Daily DispatchesFamilies Hit With L1,300 Rise in Cost of Living
By Harry Wallop
The Telegraph, London
Tuesday, February 12, 2008
http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/02/12/ncost112...
Families are having to pay an extra L1,300 a year in household bills as food and fuel prices rise at their fastest rate for 17 years.
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