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Daily Dispatches
Trace of honesty in U.S. inflation report stuns economists
Submitted by cpowell on Tue, 2004-11-16 03:00 Section: Daily DispatchesBy Marcy Gordon
The Associated Press
Tuesday, November 16, 2004
WASHINGTON -- Fannie Mae's accounting crisis has taken
a turn with its outside auditor KPMG refusing to sign off on
its third-quarter earnings report, causing the mortgage giant
to miss a regulatory deadline for filing it.
Fannie Mae, whose accounting is under investigation by the
Securities and Exchange Commission, also said Monday
New York Times: The dollar is down but should anyone care?
Submitted by cpowell on Tue, 2004-11-16 03:00 Section: Daily DispatchesBy Rex Nutting
CBSMarketWatch
Tuesday, November 16, 2004
http://cbs.marketwatch.com/news/story.asp?guid=%7B2C7FC1E7%2D386E%
2D44C0%2D953F%2D658B0C6907AF%7D&siteid=mktw&dist=
WASHINGTON -- U.S. producer prices increased 1.7
percent in October, the fastest rate in 14 years, the
Labor Department estimated Tuesday.
The goddess of gold saves India and its people
Submitted by cpowell on Tue, 2004-11-16 03:00 Section: Daily DispatchesBy Edmund L. Andrews
The New York Times
Tuesday, November 16, 2004
http://www.nytimes.com/2004/11/16/business/16dollar.html?oref=login
WASHINGTON -- It sounds eerily like the worst economic
nightmare for President Bush's second term.
Bogged down in a costly war that shows no sign of ending,
the United States faces a gaping budget deficit and
More hand-wringing about euro''s rise, and some speculation about intervention
Submitted by cpowell on Tue, 2004-11-16 03:00 Section: Daily DispatchesBy Sala Kannan
www.DailyReckoning.com
Tuesday, November 16, 2004
It was July 1, 1991, the day of my cousin's wedding.
"You have to wear more gold, Sala. It's auspicious," my
mother said, as I was getting ready.
As a teenager growing up in India, I hated wearing
traditional gold jewelry. It was not fashionable enough.
Only old people wore gold jewelry. I was determined
not to wear all that gold to the wedding. I would create
Ted Butler: Do-Or-Die Time Coming Up?
Submitted by cpowell on Tue, 2004-11-16 03:00 Section: Daily DispatchesEuro Holds Near Record;
Ministers Fail to Request ECB Sales
By Joshua Krongold and Mark Tannenbaum
Bloomberg News Service
Tuesday, November 16, 2004
http://www.bloomberg.com/apps/news?
pid=10000085&sid=ay685BZOBONM&refer=europe
The euro traded within a half cent of a record against
the dollar after European finance ministers failed to
If you read The Gartman Letter, here''s something else you may have missed
Submitted by cpowell on Tue, 2004-11-16 03:00 Section: Daily DispatchesBy Ted Butler
November 9, 2004
www.InvestmentRarities.com
A close reading of the current Commitments of Traders
Report (COT), including an extrapolation since the
Tuesday cutoff, indicates that we are still at a bearish
extreme in gold and silver. Yes, there was technical
fund liquidation and dealer short covering in the latest
report, but that activity clearly took place on the big
down day on November 2. Subsequently, it appears
Is front-running for the new bullion fund pushing up gold''s price?
Submitted by cpowell on Tue, 2004-11-16 03:00 Section: Daily Dispatches"Conspiracies rarely exist."
-- Dennis Gartman
in The Gartman Letter,
September 14, 2004
* * *
Zurich Financial Underwriters
Plead Guilty in Probe
By Philipp Goellner and Eric Moskowitz
Bloomberg News Service
Tuesday, November 16, 2004
http://quote.bloomberg.com/apps/news?
pid=10000006&sid=a3zNEEpnmHDc&refer=home
Rising interest rates may not bother gold much
Submitted by cpowell on Tue, 2004-11-16 03:00 Section: Daily Dispatches9:54p ET Tuesday, November 16, 2004
Dear Friend of GATA and Gold:
Resource Investor's Tim Wood speculates that the
impending launch of the World Gold Council's
bullion fund in New York has prompted front-
running that is supporting the gold price, and he
quotes gold's perennial disparager, Mitsui's Andy
Smith, as predicting a collapse in the gold price
once the front-running is out of the way. Wood
Noranda stops negotiating exclusively with China''s Minmetals
Submitted by cpowell on Tue, 2004-11-16 03:00 Section: Daily Dispatches10:57p ET Tuesday, November 16, 2004
Dear Friend of GATA and Gold:
This CBSMarketWatch story is interesting
for its comment that, as Jim Sinclair has
been saying, rising interest rates are no
threat to gold, since they always trail the
true inflation rate and make more trouble
for gold's competitors, paper investments.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
GATA Chairman Bill Murphy''s speech to the 2004 New Orleans Investment Conference
Submitted by cpowell on Mon, 2004-11-15 03:00 Section: Daily Dispatches5:48p CT Sunday, November 14, 2004
Dear Friend of GATA and Gold:
GATA's fund-raising lunch at the conclusion of the
New Orleans Investment Conference today was a
success. At least we seem to have covered our costs
while meeting many old and new friends and spreading
the word of the manipulation of the gold market.
GATA is especially grateful to Brien Lundin of
Jefferson Direct Inc. and editor of Gold Newsletter
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