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Daily Dispatches
Markets misread 'strong dollar' policy, Harvard economist says
Submitted by cpowell on Sat, 2007-01-06 17:05 Section: Daily DispatchesFrom Reuters
Saturday, January 6, 2006
http://asia.news.yahoo.com/070106/3/2vcq6.html
CHICAGO -- A misunderstanding by financial markets of the so-called "strong dollar" mantra preached by U.S. officials is helping keep the U.S. currency overpriced and contributing to bloated external deficits, Harvard University economist Martin Feldstein said on Saturday.
Speaking on a panel on the U.S. current account deficit at the Allied Social Sciences Conventions, Feldstein outlined several factors that are holding the dollar at an overly high, and unsustainable, level.
Wall Street Journal examines struggle to start mining in Mongolia
Submitted by cpowell on Sat, 2007-01-06 15:00 Section: Daily DispatchesMongolia Is Roiled
By Miner's Huge Plans
World-Class Deposits
Spur Battle for Spoils;
Makeover for 'Toxic Bob'
By Patrick Barta
The Wall Street Journal
Thursday, January 4, 2007
OYU TOLGOI, Mongolia -- When Robert Friedland first set foot on this desolate land in 2001, the mining magnate saw a windswept desert, some rocks, and the opportunity to turn Mongolia into the world's next big natural-resources play.
'Infinite money and its consquences' is theme of CMRE spring meeting in NYC
Submitted by cpowell on Sat, 2007-01-06 13:04 Section: Daily Dispatches12:54p ET Saturday, January 6, 2007
Dear Friend of GATA and Gold:
The spring dinner meeting of the Committee for Monetary Research and Education, scheduled for Thursday, May 10, in New York City, will have a theme of great interest to our crowd: "Infinite Money and Its Consequences." Among the speakers:
-- Henry C.K. Liu, economics writer for Asia Times and monetary policy adviser to several governments.
'Infinite money and its consequences' is theme of CMRE spring meeting in NYC
Submitted by cpowell on Sat, 2007-01-06 13:01 Section: Daily Dispatches12:48p ET Saturday, January 6, 2007
Dear Friend of GATA and Gold:
The spring dinner meeting of the Committee for Monetary Research and Education, scheduled for Thursday, May 10, in New York City, will have a theme of great interest to our crowd: "Infinite Money and Its Consequences." Among the speakers:
-- Henry C.K. Liu, economics writer for Asia Times and monetary policy adviser to several governments.
Business Week welcomes more decline in the dollar
Submitted by cpowell on Fri, 2007-01-05 11:11 Section: Daily DispatchesWhy The Dollar's Decline Isn't A Downer
A steep drop is unlikely, and there are advantages to a further slide
Business Week
Issue of January 15, 2007
http://www.businessweek.com/magazine/content/07_03/b4017032.htm?chan=top...
Back in 2002, billionaire investor George Soros boldly warned that the U.S. dollar's value could plunge by a third over the next few years. He was pretty much on target. Since the greenback's peak in early 2002, it has dropped 35% against the euro, 28% vs. a trade-weighted basket of major currencies, and 18% vs. the currencies of all countries the U.S. does business with. What's interesting is, nothing bad happened--except maybe for those investors who didn't sell the dollar short, as Mr. Soros presumably did.
MineWeb: Central bank gold purchase was only bookkeeping adjustment
Submitted by cpowell on Fri, 2007-01-05 10:56 Section: Daily DispatchesBy Lawrence Williams
MineWeb.com
Friday, January 5, 2007
LONDON -- The recently reported "gold purchase" by an ECB central bank does not appear to be a purchase per se but only an adjustment relating to the refining of gold coins which had previously only been recorded under "other assets" in the central bank in question's accounts.
... For the full story:
Kitco's Nadler can only sneer at Blanchard report, not answer it
Submitted by cpowell on Thu, 2007-01-04 00:50 Section: Daily Dispatches12:35a ET Thursday, January 4, 2007
Dear Friend of GATA and Gold:
Resource Investor's Jon A. Nones has gotten a bit of a debate going between Blanchard & Co.'s research director, Neal R. Ryan, author of the recent critique of the secrecy of central bank gold lending, and Jon Nadler, an analyst for Kitco.com. Nadler has been doing a lot of sneering at the Blanchard report, which Ryan has considered unfair. So Resource Investor has given them a chance to elaborate.
Ted Butler: Reflections
Submitted by cpowell on Wed, 2007-01-03 15:36 Section: Daily Dispatches3:23p ET Wednesday, January 3, 2006
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler reflects on the last year and the one ahead for silver, congratulates the silver exchange-traded fund, and observes that the short position in silver is more concentrated and manipulative (and more promising for silver longs) than ever. You can find Butler's new essay, "Reflections," at GoldSeek's companion site, SilverSeek, here:
A European central bank is buying gold -- but who and how much?
Submitted by cpowell on Wed, 2007-01-03 00:04 Section: Daily DispatchesBuying Bullion: Central Banks
Seek Alternatives to the Dollar
By Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, January 3, 2007
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/01/03/cngold...
Gold punched ahead in new-year trading on dollar weakness and the revelation that a member of the European Central Bank system had begun buying bullion, the first such purchase in years.
Fighting over gold in the land of Dracula
Submitted by cpowell on Tue, 2007-01-02 23:53 Section: Daily DispatchesBy Craig S. Smith
The New York Times
Wednesday, January 3, 2006
http://www.nytimes.com/2007/01/03/business/worldbusiness/03gold.html
ROSIA MONTANA, Romania -- Eugen David, a small-time farmer with a chipped tooth and muddy boots in this obscure wrinkle of Transylvania, is an unlikely man to attract the attention of movie stars and moguls. But he counts Vanessa Redgrave, George Soros, and Teddy Goldsmith among his backers in a land battle with a Canadian gold mining company.
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