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MorganChase executive considered for Treasury's international job
Submitted by cpowell on Sun, 2007-02-11 19:32 Section: Daily DispatchesFrom Reuters
via Yahoo News
Friday, February 9, 2007
http://news.yahoo.com/s/nm/20070209/bs_nm/usa_economy_treasury_ryan_dc;_...
The Bush administration is considering T. Timothy Ryan, a former top financial regulator who is now with JPMorgan Chase, to become Treasury's point person on international affairs, two sources familiar with the matter said on Friday.
Qatar will keep riyal's peg to dollar
Submitted by cpowell on Sun, 2007-02-11 18:29 Section: Daily Dispatcheshttp://www.gulfnews.com/business/Commerce/10103644.html
From Reuters
via Gulf News, Dubai
Monday, February 12, 2007
DOHA, Qatar -- Qatar will not change the riyal's peg to the falling US dollar and sees property prices rather than import costs as the main driver of inflation, the finance minister said yesterday.
Qatar, Saudi Arabia, and four other Gulf Arab states have pegged exchange rates to the dollar to prepare for monetary union in the world's biggest oil-exporting region.
G7 asks finance ministers to talk with hedge fund managers
Submitted by cpowell on Sun, 2007-02-11 18:14 Section: Daily DispatchesBy Bertrand Benoit and Ralph Atkins
Financial Times, London
via Yahoo News
Sunday, February 11, 2007
http://news.yahoo.com/s/ft/20070211/bs_ft/fto021120071135464206
ESSEN, Germany -- Fast growth in the global hedge fund industry requires a "vigilant" stance by governments and central banks, the G7 summit in Essen concluded.
Germany won support -- including from the US and UK -- at the summit for a package of proposals intended to encourage greater transparency in the trillion-dollar hedge fund industry, without calling into question its economic benefits. "Whenever something is growing as quickly as this, it bears looking at," said Hank Paulson, US treasury secretary.
Markets can handle hedge funds by themselves, treasury secretary tells G7
Submitted by cpowell on Sun, 2007-02-11 18:08 Section: Daily DispatchesBy The Associated Press
via Yahoo News
Saturday, February 10, 2007
http://news.yahoo.com/s/nm/20070210/bs_nm/g7_usa_dc;_ylt=At5TkVdDjIVh0jE...
ESSEN, Germany -- U.S. Treasury Secretary Henry Paulson made clear on Saturday that he thinks any risks posed by lightly regulated hedge funds can be handled through market discipline without adding heavy government regulators.
"Market discipline, focusing on the risk management of regulated counterparties, is the most effective way to address potential systemic risk concerns," Paulson told a news conference at the close of a two-day Group of Seven finance minister's meeting in the German industrial city of Essen.
How to profit most from $1,000 gold: juniors and self-publicists
Submitted by cpowell on Sun, 2007-02-11 11:37 Section: Daily DispatchesFrom AMEInfo.com, Dubai
Sunday, February 11, 2007
http://www.ameinfo.com/110276.html
Whether the International Monetary fund recasts its rulebook against the manipulation of the gold market by central banks, or Chinese and speculative buyers push up the price from $666 an ounce at the close last week, there is an emerging consensus that $1,000 is a reasonable target for the yellow metal. Leveraging off this trend then ought then to be a friend indeed.
G-7 presses China on yuan flexibility, wants hedge funds watched
Submitted by cpowell on Sat, 2007-02-10 17:30 Section: Daily DispatchesBy Matt Moore
Associated Press
via Yahoo News
Saturday, February 10, 2007
http://news.yahoo.com/s/ap/20070210/ap_on_bi_ge/germany_g7
ESSEN, Germany -- China came under renewed pressure Saturday from the Group of Seven to make its yuan more flexible, while Japan emerged from the meeting without a public scolding, despite criticism beforehand that its weakened yen was hurting other economies.
South African president pledges to hasten land redistribution
Submitted by cpowell on Fri, 2007-02-09 18:30 Section: Daily DispatchesBy Paul Simao
Reuters
via Yahoo News
Friday, February 9, 2007
http://news.yahoo.com/s/nm/20070209/wl_nm/safrica_mbeki_dc
CAPE TOWN, South Africa -- President Thabo Mbeki on Friday pledged to tackle poverty and crime and speed up land redistribution to blacks, signaling a new interventionist approach in fighting South Africa's glaring social ills.
In a speech marking the opening of parliament in Cape Town, Mbeki acknowledged the government needed to do more to help millions of unemployed, poor and landless South Africans living on the sidelines of the country's fast-growing economy.
Fed Reserve's Bies, policy centrist, to step down March 30
Submitted by cpowell on Fri, 2007-02-09 18:25 Section: Daily DispatchesBy David Lawder
Reuters
via Yahoo News
Friday, February 9, 2007
http://news.yahoo.com/s/nm/20070209/bs_nm/usa_fed_bies_dc
U.S. Federal Reserve Governor Susan Bies, a banking expert and monetary-policy centrist, will step down on March 30, the central bank said on Friday, marking the third top Fed official to announce a departure this year.
Bies, who has been a member of the Fed's Board of Governors since December 2001, does not plan to attend the March 20-21 meeting of the Federal Open Market Committee, the Fed said -- a customary practice for departing Fed board members.
Miners are dangerous foes for Bolivia's president
Submitted by cpowell on Fri, 2007-02-09 15:04 Section: Daily DispatchesBy Eduardo Garcia
Reuters
via Yahoo News
Friday, February 9, 2007
http://news.yahoo.com/s/nm/20070209/lf_nm/bolivia_miners_dc_1
Roger Mamani rides a rickety elevator deep underground, hikes through flooded tunnels and crawls through a maze of muddy burrows to dig silver ore at the San Jose mine in Bolivia's Andes.
As the 22-year-old crouches and breaks rock with a pickaxe, two fellow miners roll up dynamite in sheets of used notebook paper. They have two minutes to run to safety before a blast shakes tunnels propped up by splintered beams.
Doug Hornig: About those IMF gold sales
Submitted by cpowell on Fri, 2007-02-09 14:58 Section: Daily Dispatches2:55p ET Friday, February 9, 2007
Dear Friend of GATA and Gold:
Doug Hornig of Doug Casey's International Speculator letter cites GATA and our friend Mike Kosares of USAGold.com/Centennial Precious Metals in an analysis "About Those IMF Gold Sales." Hornig concludes:
"If IMF sales do happen and if they depress gold's price, that's a buying opportunity ... for bullion and especially for the high-quality junior exploration stocks that pack the most punch in a rising gold market."
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