Daily Dispatches

Exiting dollar, Iran puts 70% of reserves in other currencies and gold

Submitted by cpowell on Mon, 2007-09-17 23:09 Section: Daily Dispatches

From Agence France-Press
via Daily Times, Lahore, Pakistan
Tuesday, September 18, 2007

http://www.dailytimes.com.pk/default.asp?page=2007%5C09%5C18%5Cstory_18-...

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Financial Times: Spain is finished with gold sales

Submitted by cpowell on Mon, 2007-09-17 21:49 Section: Daily Dispatches

By Javier Blas
Financial Times, London
Monday, September 17, 2007

http://www.ft.com/cms/s/0/22f4ab90-6546-11dc-bf89-0000779fd2ac.html

LONDON -- The Bank of Spain, the largest seller of gold this year under the central banks' gold agreement, plans no more significant sales of the precious metal, a move that is likely to fuel the recent surge in prices.

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All British banks now may expect government rescue

Submitted by cpowell on Mon, 2007-09-17 20:08 Section: Daily Dispatches

Stopping a Crisis from Becoming a Catastrophe

By Philip Stephens
Financial Times, London
Monday, September 17, 2007

http://www.ft.com/cms/s/0/2e4257da-656a-11dc-bf89-0000779fd2ac.html

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Venezuela's oil accounts to dump the dollar

Submitted by cpowell on Mon, 2007-09-17 15:14 Section: Daily Dispatches

By Steven Bodzin
Bloomberg News Service
Monday, September 17, 2007

http://www.bloomberg.com/apps/news?pid=20601086&sid=aGBuWpZJ9cPI

CARACAS, Venezuela -- Venezuelan President Hugo Chavez instructed Petroleos de Venezuela SA, the state oil company, to convert its investment accounts from dollars to euros and Asian currencies to reduce risk.

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Panic spreading, Britain guarantees all Northern Rock deposits

Submitted by cpowell on Mon, 2007-09-17 15:01 Section: Daily Dispatches

By Jean Eaglesham, Peter Thal Larsen,
Chris Giles, and Lina Saigol
Financial Times, London
Monday, September 17, 2007

http://www.ft.com/cms/s/2/39199b78-6489-11dc-90ea-0000779fd2ac.html

LONDON -- Alistair Darling, chancellor of the exchequer, has announced that the government will guarantee all deposits of Northern Rock account holders as ministers sought to calm savers' fears.

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Ambrose Evans-Pritchard: Greenspan was more rock star than feared sage

Submitted by cpowell on Mon, 2007-09-17 00:56 Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Monday, September 17, 2007

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/17/ccview...

We forget now, but Alan Greenspan rose in Washington as a political aide to Richard Nixon -- not as an economist.

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Having opposed regulating them, Greenspan blames derivatives

Submitted by cpowell on Sun, 2007-09-16 22:56 Section: Daily Dispatches

Greenspan Alert on US House Prices

By Krishna Guha
Financial Times, London
Monday, September 17, 2007

http://www.ft.com/cms/s/0/31207860-647f-11dc-90ea-0000779fd2ac.html

US house prices are likely to fall significantly from their present levels, Alan Greenspan has told the Financial Times, admitting that there was a bubble in the US housing market.

Read more about Having opposed regulating them, Greenspan blames derivatives

French foreign minister warns of war over Iranian nukes

Submitted by cpowell on Sun, 2007-09-16 20:38 Section: Daily Dispatches

From Agence France-Presse
via Yahoo News
Sunday, September 16, 2007

http://news.yahoo.com/s/afp/20070916/wl_afp/franceirannuclear_0709161936...

PARIS -- The world should brace for a possible war over the Iranian nuclear crisis, but seeking a solution through talks should take priority, French Foreign Minister Bernard Kouchner said on Sunday.