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Daily Dispatches
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
Consumer demand for gold rose in 2004 for first time in four years
Submitted by cpowell on Thu, 2005-02-24 03:00 Section: Daily DispatchesBy Janet Ong
Bloomberg News Service
Thursday, February 24, 2005
http://www.bloomberg.com/apps/news?
pid=10000087&sid=a7g.FfwU9C_8&refer=top_world_news
SHANGHAI -- Policy makers from Japan, China, South Korea, and
Southeast Asian nations met in Thailand this week to discuss the
impact of the dollar's slide on the region's economies, according to
If a currency can feel, the dollar feels vulnerable
Submitted by cpowell on Thu, 2005-02-24 03:00 Section: Daily DispatchesBy Veronica Brown
Reuters
Thursday, February 24, 2005
http://www.reuters.co.za/locales/c_newsArticle.jsp;:421d7dca:c3b11d36
3271e2f?type=businessNews&localeKey=en_ZA&storyID=7722316
LONDON --- Consumer demand for gold jumped 7 percent in 2004 -- the
first rise in four years -- with sharp price rises failing to deter
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