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Daily Dispatches
James Turk: The truth behind the proposal to sell IMF gold
Submitted by cpowell on Sun, 2005-02-27 03:00 Section: Daily DispatchesBy William Pesek Jr.
Bloomberg News Service
Friday, February 25, 2005
http://www.bloomberg.com/news/commentary/wpesek.html
It's THE question in global currency markets: What force of nature
prompted South Korea suddenly to scrap plans to sell dollars?
On Tuesday, the dollar was plunging amid a comment by Asia's No. 3
economy that it would diversify foreign-exchange reserves into other
Australians fear U.S. financial crash that will depress world economy
Submitted by cpowell on Sat, 2005-02-26 03:00 Section: Daily Dispatches8:16p ET Friday, February 25, 2005
Dear Friend of GATA and Gold:
MiningMX has some good stories tonight from
South Africa about Harmony's retreating from
its plans to acquire Gold Fields, DRDGold's
financial trouble, and a report from the World
Jewelry Council about the decline of gold
production to the lowest level in 60 years.
You can find it all here:
Nobody thinks central bank diversification out of dollar is over, trader says
Submitted by cpowell on Sat, 2005-02-26 03:00 Section: Daily DispatchesDavid Uren and Roy Eccleston
The Australian, Sydney
Friday, February 25, 2005
http://www.theaustralian.news.com.au/common/story_page/0,5744,1236420
2%255E601,00.html
Treasurer Peter Costello's closest adviser fears the US is heading
for a devastating financial crash that could ravage Australia's
economic growth.
China says it will act this year on currency convertibility
Submitted by cpowell on Sat, 2005-02-26 03:00 Section: Daily DispatchesBy Vivianne Rodrigues and Jake Lee
Bloomberg News Service
Saturday, February 26, 2005
http://www.bloomberg.com/apps/news?
pid=10000101&sid=aNz8wqTfieBA&refer=japan
The dollar fell against the euro and the yen for a second week on
speculation Asian central banks may slow purchases of U.S. assets
and use other currencies for reserves.
Falling dollar and rising oil are a dangerous mix
Submitted by cpowell on Sat, 2005-02-26 03:00 Section: Daily DispatchesChina Says It Will Move on Yuan in 2005
From Reuters
Saturday, February 26, 2005
http://www.reuters.com/newsArticle.jhtml;jsessionid=HLRPGKO52AI3YCRBA
EKSFEY?type=businessNews&storyID=7746659
BEIJING -- China will gradually open its capital account in 2005,
another step in its plan to make the yuan currency fully
Diversification from the East could send the dollar south
Submitted by cpowell on Sat, 2005-02-26 03:00 Section: Daily DispatchesBy Irwin Stelzer
The Times, London
Sunday, February 27, 2005
http://www.timesonline.co.uk/article/0,,2095-1502209,00.html
Happenings in the two global markets that do not conform to Adam
Smith's model frequently roil free-market economies such as
America's. The foreign-exchange market is dominated by central banks
Most G-7 members favor IMF gold sales, German newspaper says
Submitted by cpowell on Fri, 2005-02-25 03:00 Section: Daily DispatchesFrom Reuters
Wednesday, February 23, 2005
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=7720214
NEW YORK -- The head of the International Monetary Fund on Wednesday
urged the United States to put in place policies that will ensure
any fall in the dollar caused by big U.S. trade imbalances will not
Donald Luskin: One man''s ''barbarous relic'' is another man''s indestructible money
Submitted by cpowell on Fri, 2005-02-25 03:00 Section: Daily DispatchesFrom Reuters
Friday, February 25, 2005
http://www.reuters.co.za/locales/c_newsArticle.jsp;:421f2109:1412166c8
a5fa683?type=businessNews&localeKey=en_ZA&storyID=7740646
FRANKFURT -- A majority of Group of Seven members favour selling some
of the International Monetary Fund's gold reserves to finance debt
MiningMX on Harmony, DRDGold, and a decline in world gold production
Submitted by cpowell on Fri, 2005-02-25 03:00 Section: Daily Dispatches6:55p ET Friday, February 25, 2005
Dear Friend of GATA and Gold:
The author of the commentary from Smart Money
magazine that is appended here recognizes that
gold is money. Why he thinks that the
exchange-traded gold fund he recommends is
necessarily gold is something else. But take
it for what it's worth.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Asian policy makers met to discuss dollar''s slide
Submitted by cpowell on Thu, 2005-02-24 03:00 Section: Daily Dispatches11:06p ET Wednesday, February 23, 2005
Dear Friend of GATA and Gold:
The Financial Times editorial appended here
is interesting for acknowledging that the
U.S. dollar stays afloat only with the
greatest assistance from foreign central
banks and that the first central bank to
start dumping dollars wins while the others
are likely to lose.
But the FT editorial is a bit dense for not
acknowledging something else in regard to
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