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Daily Dispatches
Back from another trip to Washington: The gold story is going to break
Submitted by cpowell on Thu, 2001-09-06 03:00 Section: Daily DispatchesFrom Business Report, South Africa
www.BusinessReport.co.za
September 5, 2001
Johannesburg -- South African gold producer AngloGold
is to become the world's first truly global gold company
when it takes control of Normandy, Australia's largest
gold producer.
In a statement Wednesday, Anglogold said it would
offer Normandy shareholders 2.15 AngloGold shares
for every 100 Normandy shares.
AngloGold goes global with Normandy acquisition
Submitted by cpowell on Wed, 2001-09-05 03:00 Section: Daily DispatchesBy Dudley White
Bloomberg News
September 5, 2001
Johannesburg (Bloomberg) -- AngloGold Ltd. shares were
suspended in Australia amid speculation the world's
largest gold miner may bid for Normandy Mining Ltd.
Shares in Normandy, Australia's biggest gold producer,
were also suspended.
Analysts have speculated Johannesburg-based AngloGold
held talks last year with Normandy, which has a market
AngloGold seen bidding for Normandy; trading suspended
Submitted by cpowell on Tue, 2001-09-04 03:00 Section: Daily DispatchesBy James Turk
August 31, 2001
Copyright 2001 by The Freemarket Gold amp; Money Report
I've been waiting for it to happen, and now the war of
words has finally begun. The Bank for International
Settlements today fired the first shot.
As reported in today's Financial Times, Giacomo
Panizzutti, head of foreign exchange and gold at the
Bank for International Settlements, was quoted as
saying that he estimated total gold loans to be 5,200
Where is gold''s Patton? A reply to Tim Wood of www.TheMiningWeb.com
Submitted by cpowell on Sat, 2001-09-01 03:00 Section: Daily Dispatches10:22p ET Friday, August 31, 2001
Dear Friend of GATA and Gold:
There's another interesting essay tonight by Tim Wood
of The Mining Web. Here's an excerpt:
quot;The recipe to break the gold carry trade has been laid out
explicitly by Mister Gold, Jim Sinclair. GATA has written
its formula, fund managers and bullion dealers acknowledge
how thin the market is and so susceptible to a confident
The BIS shoots back but leaves lots of stuff out
Submitted by cpowell on Sat, 2001-09-01 03:00 Section: Daily DispatchesSeptember 1, 2001
Tim Wood
www.TheMiningWeb.com
Dear Tim:
This may be of some interest as a response to your
latest essay at www.TheMiningWeb.com, quot;Gold bulls
surrender Labor Day opportunity,quot; which shows much
insight.
Around 1994 Jimmy DePiazza, Phibro's trader in
Connecticut, figured out a way to corner the silver
market. Phibro had been taken over by Salomon Brothers,
BIS official''s comments interpreted as responding to GATA
Submitted by cpowell on Fri, 2001-08-31 03:00 Section: Daily Dispatches'Midas' commentary for August 29, 2001
By Bill Murphy
www.LeMetropoleCafe.com
August 29, 2001
Gold $273.60 up $1.70
Silver $4.18 unchanged
Surprise! Gold is not going down as the pundits
said it would due to the overpositioning of specs
on the long side. Pleasant surprise for me too.
The open interest has contracted all the way down
to 120,128 contracts, which is a drop of 12,000
Where, The Mining Web asks, is gold''s Patton?
Submitted by cpowell on Fri, 2001-08-31 03:00 Section: Daily DispatchesFrom the Financial Times
www.ft.com
August 31, 2001
BIS banker speaks on gold:
Giacomo Panizzutti's estimates of central bank
gold lending implicitly contradict conspiracy theories
By ADRIENNE ROBERTS
The question of how much gold has been lent out by
central banks -- an emotionally charged topic in some
circles -- has received its most authoritative answer
so far.
Giacomo Panizzutti, head of foreign exchange and gold
Mining Web''s Tim Wood joins Tocqueville''s Hathaway on manipulation of gold
Submitted by cpowell on Wed, 2001-08-29 03:00 Section: Daily DispatchesBy Vincent Cook
Reg Howe is to be highly commended for
calling our attention to an academic paper
co-authored by former Treasury Secretary
Lawrence Summers concerning a positive
correlation between wholesale price levels
and interest rates that existed under the
classical gold standard (also known as
quot;Gibson's paradoxquot;).
It should be noted that the paradox depends
on a couple of crucial assumptions about the
South African Reserve Bank admits gold swaps, says it has none on deposit
Submitted by cpowell on Wed, 2001-08-29 03:00 Section: Daily Dispatches1:24a ET Wednesday, August 29, 2001
Dear Friend of GATA and Gold:
Tim Wood of www.theminingweb.com has joined the
Tocqueville Gold Fund's John Hathaway in concluding
that the gold market is probably being manipulated
by the U.S. government.
Wood writes of the quot;conspiracy theoryquot; advanced by
GATA for the last three years:
quot;Hathaway is no longer flirting; he's hitched. The
Greenspan was wary of Treasury ''initiatives'' in 1995
Submitted by cpowell on Wed, 2001-08-29 03:00 Section: Daily DispatchesBy Joe van Zyl
Bedfordview, South Africa
swissbourgh@worldonline.co.za
As a shareholder of the South African Reserve
Bank, I have directed questions to the bank in
respect of the bank's involvement in gold swaps
and collateral agreements, but the bank refused to
make any information available. I requested Peter
George to have questions in Parliament directed to
the minister of finance, Trevor Manuel. Manuel is
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