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Islamic derivatives: What would Mohammad do?
Submitted by cpowell on Fri, 2006-12-08 19:44 Section: Daily DispatchesCommodities and Islam
the Start of Something Big
By Mark Bendeich
Reuters
Friday, December 8, 2006
http://today.reuters.co.uk/news/articleinvesting.aspx?type=fundsNews&sto...
KUALA LUMPUR, Malaysia -- Global trade in commodities is booming, and not just because China is hungry for resources. Pious Muslims, too, are keeping commodity markets busy.
Leading Asian economist urges joint action on dollar
Submitted by cpowell on Fri, 2006-12-08 00:44 Section: Daily Dispatches12:32p ET Friday, Decmeber 8, 2006
Dear Friend of GATA and Gold:
An abbreviated version of the story appended here was dispatched to you a few hours ago and it was without full attribution to The New York Times.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Leading Asian Economist
Urges Joint Action on Dollar
By Keith Bradsher
The New York Times
In glitter and glory, the Rock of All Ages
Submitted by cpowell on Thu, 2006-12-07 23:29 Section: Daily Dispatches11:20p ET Thursday, December 7, 2006
Dear Friend of GATA and Gold:
Your secretary/treasurer yesterday got to spend a little time -- not a tenth as much as he would have liked -- at the exhibition on gold that has just opened at the American Museum of Natural History in New York City. It is goldbug heaven, but, much more than that, it convincingly demonstrates gold's enduring and unique utility and power. If you're in the New York area, it shouldn't be missed. If you're not in the New York area, it is well worth a trip, considering that you have until August to see it.
Gold is magnificent at the museum but it is no museum piece
Submitted by cpowell on Thu, 2006-12-07 23:07 Section: Daily DispatchesRemarks by Chris Powell
Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Educators' Evening -- Gold Exhibition
American Museum of Natural History
79th Street at Central Park West
New York, New York
Wednesday, December 6, 2006
Asian Development Bank official urges management of dollar's fall
Submitted by cpowell on Thu, 2006-12-07 18:58 Section: Daily DispatchesBy Keith Bradsher
International Herald Tribune, Paris
Thursday, December 7, 2006
http://www.iht.com/articles/2006/12/07/business/adb.php
HONG KONG -- A senior Asian Development Bank official predicted Thursday that the dollar was likely to decline further and called for East Asian countries to make sure that their currencies appreciate in unison -- and do not start swinging sharply in value relative to one another.
IMF said ready to propose proper accounting for central bank gold
Submitted by cpowell on Thu, 2006-12-07 17:37 Section: Daily Dispatches5:30p ET Thursday, December 7, 2006
Dear Friend of GATA and Gold:
Neal Ryan, research director for New Orleans coin and bullion dealer Blanchard & Co., plaintiff in the heroic and rather successful gold price-rigging lawsuit against Barrick Gold, reports in an interview today with TheStreet.com that the International Monetary Fund is about to propose proper and transparent accounting practices for leased and swapped central bank gold.
Asian currencies rise as China says dollar may fall
Submitted by cpowell on Thu, 2006-12-07 10:26 Section: Daily DispatchesAsian Currencies Advance
After China Says
Dollar May Decline
By Jake Lee and Yumi Teso
Bloomberg News Service
Thursday, December 7, 2006
http://www.bloomberg.com/apps/news?pid=20601087&sid=avabg9ZFFeac&refer=home
Asian currencies advanced after China's central bank published an October report predicting the U.S. dollar may weaken and fund managers will sell dollar- denominated assets.
Iran reported switching from dollars to euros in oil trade
Submitted by cpowell on Thu, 2006-12-07 01:27 Section: Daily DispatchesBy Marc Wolfensberger
Bloomberg News Service
Wednesday, December 6, 2006
http://quote.bloomberg.com/apps/news?pid=20601087&sid=a5EsYUqL5LLs
TEHRAN -- Iran, the world's fourth-largest oil exporter, plans to reduce its use of the U.S. dollar in world trade and increase use of the euro, two Tehran-based newspapers reported.
The Tehran Times said today Iran has started substituting euros for dollars in oil sales, citing an unidentified person at the Oil Ministry. Iran Daily reported Iran wants to cut its dollar-based transactions to a minimum, citing Minister of Economy Davoud Danesh-Ja'fari.
'Journalists' don't bother to question original sources on gold, PPT
Submitted by cpowell on Wed, 2006-12-06 10:40 Section: Daily Dispatches10:30a Wednesday, December 6, 2006
Dear Friend of GATA and Gold:
Today's Globe and Mail in Toronto has an article interviewing Sprott Asset Management's John Embry and touching on the gold price suppression scheme and the U.S. government's so-called "Plunge Protection Team." The article may be most notable for its dismissive quotation from Bloomberg News writer Caroline Baum. The article says:
James Turk: Another commodity correction is behind us
Submitted by cpowell on Tue, 2006-12-05 23:04 Section: Daily Dispatches10:55p ET Tuesday, December 5, 2006
Dear Friend of GATA and Gold:
GoldMoney's James Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, writes in an essay published today that another brief correction in the commodities markets is over and that the commodities boom has a long way to go. Turk writes:
"The reason for this bull market in commodities will surprise no one. It's the U.S. dollar. There are people around the world who would rather own $1 million worth of zinc or copper or soybeans or any other commodity than $1 million in a bank account, and for good reason. The purchasing power of the U.S. dollar is being inflated away, and this inflation will no doubt worsen in the weeks and months ahead. But zinc is zinc; the value of zinc and every other commodity is based on their utility, and that utility cannot be inflated away."
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