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Daily Dispatches

These people will be TOASTING the IMF

Section: Daily Dispatches

Wall Street Bonuses
Flood NYC's Economy

By Adam Goldman
Associated Press
Tuesday, December 19, 2006

http://news.yahoo.com/s/ap/20061219/ap_on_bi_ge/wall_street_bonuses

When Michael Aaron learned that Wall Street investment banks were going to be shelling out record bonuses this holiday season, the savvy wine merchant uncorked his own plan to make serious dough. He paid for a double-page advertisement in The New York Times, boasting a rare bottle of 1995 Dom Perignon. The price tag -- $14,950.

Why, Ted Butler asks, would anyone want a 'no delivery' contract?

Section: Daily Dispatches

9:14p ET Tuesday, December 19, 2006

Dear Friend of GATA and Gold:

GoldSeek's companion site, SilverSeek, has posted a long colloquy between silver market analyst Ted Butler and Jim Cook of Investment Rarities in Minneapolis. It's particularly interesting for Butler's observations about the new silver contracts on the Comex and London Metals Exchange, which he calls "no delivery" contracts, contracts that can be settled only in cash and that, as a result, seem designed to divert investment demand away from any possibility of collecting the real stuff. You can find the colloquy, "Interview with Ted Butler," here:

Where would gold be without last week's €410 million in ECB sales?

Section: Daily Dispatches

ECB Gold Reserve
-€410 Million,
Forex +€200 Million
In Week to Dec. 15

By Saadia Hashmy
Dow Jones Newswires
Tuesday, December 19, 2006

htttp://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20061219%5cACQDJON200612...

LONDON -- The Eurosystem's reserves of gold and gold receivables fell €410 million to €174.056 billion in the week ended Dec. 15, the European Central Bank said Tuesday.

Brunei Times takes note of GATA and FAME

Section: Daily Dispatches

The Dollar Has Fallen;
When Is Gold Dinar Coming?

By Dzikrullah W. Pramudya
The Brunei Times (Brunei Darussalam)
Tuesday, December 19, 2006

http://www.bruneitimes.com.bn/section/opinion/19Dec2006-3.php

The veteran samurai of capitalism has acknowledged that his sword is no longer sharp enough to rule the world. Last week former US Federal Reserve Chairman Alan Greenspan said he expected the dollar to stay weak for the next few years and will continue to drift down, weighed by the US balance of payments deficit.

Let them tax cake: IMF tells Zambia to apply VAT to food

Section: Daily Dispatches

IMF Says Zambia Should Increase Taxes on Copper Mines

By Shapi Shacinda
Reuters
Tuesday, December 19, 2006

http://za.today.reuters.com/news/newsArticle.aspx?type=businessNews&stor...

LUSAKA, Zambia -- The IMF has suggested Zambia raise taxes on copper mines and reintroduce taxes on food and other agricultural products to plug holes in its government budget, a document by an IMF mission has indicated.

No country manipulates its currency, Bush tells Congress

Section: Daily Dispatches

China Isn't Currency Manipulator, Report Says

By Martin Crutsinger
Associated Press
Tuesday, December 19, 2006

http://news.yahoo.com/s/ap/20061219/ap_on_bi_ge/china_currency

The Bush administration said Tuesday that China does not meet the technical requirements of a country that is manipulating its currency to gain unfair trade advantages.

The administration did say Tuesday that "more flexibility in China's exchange rate will help it achieve more balanced growth" and promote a number of other outcomes that would be economically beneficial.

Iran announces switch from dollars to euros

Section: Daily Dispatches

From Agence France-Presse
Monday, December 18, 2006

http://news.yahoo.com/s/afp/20061218/wl_mideast_afp/iranforexbank_061218...

Iran announced it has ordered the central bank to use euros for foreign transactions and transform the state's dollar-denominated assets held abroad into the single European currency.

"The government has ordered the central bank to replace the dollar with the euro to limit the problems of the executive organs in commercial transactions," government spokesman Gholam Hossein Elham told reporters Monday.

Lawsuits target 'first strike' coins

Section: Daily Dispatches

By Curt Anderson
Associated Press
Sunday, December 17, 2006

http://news.yahoo.com/s/ap/20061218/ap_on_bi_ge/first_strike_lawsuit

To avid collectors, coins that stand out as rare or of exceptional quality are worth more than their weight in platinum, silver or gold.

Numismatic enthusiasts are often willing to pay a premium for American Eagle, American Buffalo and other specialty coins labeled "first strikes" because they are billed as among the first of that year's batch produced by the U.S. Mint.

James Turk: The gold cartel at work

Section: Daily Dispatches

9:31p ET Sunday, December 17, 2006

Dear Friend of GATA and Gold:

James Turk, editor of the Freemarket Gold & Money Report, founder of GoldMoney, and consultant to GATA, has put Friday's pounding of gold in the context of the many similar poundings gold has suffered on Fridays at the hands of the perpetrators of the gold price suppression scheme. Turk's new essay is titled "The Gold Cartel at Work" and you can find it at GoldSeek here:

Kevin Horrigan: A Wall Street Christmas story

Section: Daily Dispatches

By Kevin Horrigan
St. Louis Post-Dispatch
Sunday, Dec. 17 2006

http://www.stltoday.com/stltoday/news/columnists.nsf/kevinhorrigan/story...

The child snuggled on my lap, the lights of the tree twinkling in her bright eyes. "Grandpa," she said, "tell me a Christmas story."

The one about the baby in the manger, the angels, and the shepherds?

"Not that one."

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