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China, Russia start pushing dollar out of trade 'within weeks'
Yuan Trading Against Russian Ruble Said to Start Within Weeks in Shanghai
By Artyom Danielyan and Emma O'Brien
Bloomberg News
Wednesday, September 8, 2010http://www.bloomberg.com/news/2010-09-08/china-russia-push-yuan-ruble-tr...
China and Russia plan to start trading in each other's currencies as the world's second-biggest energy consumer and the largest energy supplier seek to diminish the dollar's role in global trade.
China may start trading its currency against the ruble within weeks, three bankers with knowledge of the matter told Bloomberg, and sent out a document last week allowing lenders to apply for ruble trading licenses, one of them said. Russia's Micex Stock Exchange is making...
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Peter Grandich: Final battle for gold and silver
11:11a ET Wednesday, September 8, 2010
Dear Friend of GATA and Gold (and Silver):
Market analyst Peter Grandich today joins Jim Sinclair and James Turk in waxing apocalyptic about the struggle of gold and silver to break free of decades of price suppression and rigged markets. Grandich's commentary is headlined "Gold and Silver Alert: The Final Battle" and you can find it at his Internet site here:
http://www.grandich.com/2010/09/gold-and-silver-alert-the-final-battle/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
ADVERTISEMENTProphecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource
Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that...
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Explosion imminent in gold and silver, Turk tells King World News
8:35a ET Wednesday, September 8, 2010
Dear Friend of GATA and Gold (and Silver):
In a brief market note extracted from an interview with Eric King at King World News, GoldMoney founder James Turk says trading patterns indicate that gold and silver prices are about to take off. Turk's comments are headlined "Rare Trading Action, Explosion Imminent" and you can find them at King World News here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/9/8_Jam...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
ADVERTISEMENTSona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration of Elizabeth Gold Property
On May 18, 2010, Sona Resources Corp....
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Jim Sinclair: Strapping in for the big move
11:57p ET Tuesday, September 7, 2010
Dear Friend of GATA and Gold:
For fearlessness, straightforwardness, and commitment, nobody in the gold world tops Jim Sinclair, the veteran trader and mining executive who runs JSMineSet.com as an financial education forum and, sometimes, as a handholding service for gold bugs at risk of losing their nerve.
Six years ago, as gold had been hovering around $400 for a year, Sinclair offered a great gift to his readers. He made an arrangement with Monex Deposit Co. (http://www.monex.com/) in Newport Beach, Calif., by which his readers could purchase and take delivery of 1-ounce Austrian...
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Pat Heller: Do paper sellers have silver to deliver?
8:45p ET Tuesday, September 7, 2010
Dear Friend of GATA and Gold (and Silver):
In new commentary at Numismaster, Pat Heller of Liberty Coin Service in Michigan reviews hints of a silver shortage in the commodity futures markets. Heller's commentary is headlined "Do Paper Sellers Have Silver to Deliver?" and you can find it at Numismaster here:
http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=137...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
ADVERTISEMENTSona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration of Elizabeth Gold Property
On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary...
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Jim Rickards puts on GATA's tin-foil hat at King World News
9a ET Tuesday, September 7, 2010
Dear Friend of GATA and Gold:
In a fascinating essay written exclusively for King World News, Omnis Inc.'s senior vice president for market intelligence, Jim Rickards, says Treasury bonds are the new opium in the West's trade war with China. Perhaps more interesting for GATA supporters, Rickards goes on to concur more explicitly than ever with GATA on gold market manipulation. He writes:
"But there is another way to rebalance the world economy. Simply return the dollar to the gold standard and let the Chinese trade their maturing Treasury obligations for U.S. gold, if they wish, as...
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'Stimulus' is destructive, Rickards tells King World News
8:40a ET Tuesday, September 7, 2010
Dear Friend of GATA and Gold:
In the second part of his new interview with Eric King of King World News, Jim Rickards of research firm Omnis says federal economic "stimulus" destroys wealth and productivity instead of creating it and federal "behavioral" economics has proven to be only propaganda and has destroyed the government's credibility. There's a lot more to the interview and you can listen to it at King World News here:
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/9/7_Ji...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
ADVERTISEMENTSona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration...- Egon von Greyerz: Gold entering a virtuous circle
10:10a ET Monday, September 6, 2010
Dear Friend of GATA and Gold (and Silver):
With his new commentary, "Gold Entering a Virtuous Circle," Egon von Greyerz, founder and managing partner of Matterhorn Asset Management in Zurich, updates the case for the precious metal and says he considers $6,000, $7,000, and $10,000 to be realistic price targets. Von Greyerz writes:
"Gold and gold mining shares were an average of around 25 percent of world financial asset between 1921 and 1981. Today gold and mining shares are only 0.9 percent of world financial assets. If gold and mining shares were to go to 25 percent...
- Dan Norcini joins weekly precious metals review at King World News
11a ET Saturday, September 4, 2010
Dear Friend of GATA and Gold (and Silver):
GATA's old friend Dan Norcini, market analyst for Jim Sinclair's JSMineSet.com, today joins the weekly precious metals review at King World News, along with Bill Haynes of CNI Gold and Silver in Phoenix. Eric King interviews them here:
http://www.kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2010/...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
ADVERTISEMENTSona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration of Elizabeth Gold Property
On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production...
- German financial news TV network interviews GATA consultant Speck
10:53a ET Saturday, September 4, 2010
Dear Friend of GATA and Gold:
Veteran gold market researcher and GATA consultant Dimitri Speck, a partner in the European financial advisory firm Staedel Hanseatic, got 12 minutes Thursday on the German financial news television network DAF to discuss the central bank gold price suppression scheme and his book about it, "Geheime Goldpolitik" -- "Secret Gold Politics." Even those who don't understand German may be fascinated by this interview, since many of the German terms are plain in English as well and since Speck uses a graphic to break down the disposition of Germany's gold reserves...
- Compelling, comprehensive interview with Jim Rickards at King World News
10:21a ET Saturday, September 4, 2010
Dear Friend of GATA and Gold:
You're not likely to get more compelling, comprehensive, and relevant on Planet Earth for a while than Jim Rickards' interview yesterday with Eric King of King World News. Rickards, senior managing director for market intelligence for research firm Omnis, remarks among other things that:
-- Pervasive government intervention has destroyed the price-discovery function of markets.
-- The stock market provides no useful information anyway because most of the trading is done by computer programs, not real investors.
-- An easy and straightforward mechanism is available to the U.S. government for devaluing the dollar,...
- Goldman said following Morgan in ending proprietary trading
Goldman Sachs Said to Be Disbanding Principal Strategies Unit
By Christine Harper and Saijel Kishan
Bloomberg News
Friday, September 3, 2010http://www.bloomberg.com/news/2010-09-03/goldman-said-to-shut-principal-...
NEW YORK -- Goldman Sachs Group Inc. is shutting its principal-strategies business, a group that makes bets with the firm's own capital, to comply with new U.S. rules aimed at curbing risk, two people with knowledge of the decision said.
Wall Street's most profitable investment bank plans to hold off on announcing the wind-down while the 65 to 70 members of the global unit seek new jobs, the people said, speaking anonymously because the internal discussions about the process...
- Heavy in dollars, China warns of depreciation
By Zhou Xin and Simon Rabinovitch
Reuters
Friday, September 3, 2010http://www.reuters.com/article/idUSTOE68202T20100903
BEIJING -- China on Friday offered a rare glimpse into its foreign exchange reserves, confirming that they are overwhelmingly allocated in dollars, while a central banker said the mountain of cash could face depreciation risks.
The Chinese government's currency reserves, the world's largest such stockpile at $2.45 trillion, are held roughly in line with what was described as the global average: 65 percent in dollars, 26 percent in euros, 5 percent in pounds, and 3 percent in yen.
... Dispatch continues below ...
ADVERTISEMENTSona Resources Expects Positive...
- James Turk: Big money quickly buying dips in gold and silver
10:34p ET Thursday, September 2, 2010
Dear Friend of GATA and Gold (and Silver):
In a brief interview with King World News, GoldMoney founder James Turk says big money is buying gold and silver on the slightest pullbacks now, sometimes waiting only hours to get into the market. The interview is headlined "Big Money Buying Pullbacks in Gold and Silver" and you can find it at King World News here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/9/2_Jam...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
ADVERTISEMENTProphecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource
Prophecy Resource Corp. (TSX.V: PCY) announced...
- Nielson, Weir badger CFTC to act against silver market manipulation
9:45p ET Thursday, September 2, 2010
Dear Friend of GATA and Gold (and Silver):
Jeff Nielson of Bullion Bulls Canada and Road to Roota letter writer Bix Weir this week gave a shove to the U.S. Commodity Futures Trading Commission to get it moving against the increasingly obvious manipulation of the silver market by the big shorts.
Nielson's commentary is headlined "Commodities: Hoarding Vs. Shorting" and you can find it at Bullion Bulls Canada here:
http://www.bullionbullscanada.com/index.php?option=com_content&view=arti...
Or try this abbreviated link:
Weir's commentary is headlined "Nuts and Bolts of Comex Silver Manipulation" and you can find it at GoldSeek's companion site, SilverSeek,...
- China central bank researcher suspects 'intensive gold sales' by U.S.
China PBOC Researcher Warns Sharp Gold Price Decline
From Market News International, Frankfurt, Germany
Tuesday, August 31, 2010http://imarketnews.com/?q=node/18539
BEIJING -- Sales by overseas central banks could see a sharp fall in gold prices, the Financial News reported Wednesday, citing Zou Pingzuo, a central bank researcher.
"Investors should be careful about investing in gold. Gold prices could fall sharply because of intensive gold sales by the United States and other overseas central banks," Zou said.
The researcher's comments were delivered at the launch of a gold investment competition.
China currently holds 33.89 million ounces of gold, according to People's Bank of...
- New York Sun: As dollar diminishes, why shouldn't gold be audited?
The Gold Audit
From The New York Sun
Tuesday, August 31, 2010Congressman Ron Paul is in the news again, this time for calling for an audit of America's gold reserves. He issued the call in an interview with a news service run by a gold dealer, Kitco News, which reported that the congressman intends to introduce legislation calling for such an audit of what we hold at Fort Knox and other sites, such as the New York Federal Reserve Bank in lower Manhattan. It's the kind of thing people tend to laugh at, the way they once did when Doctor Paul...
- Fox News takes Kitco's Ron Paul gold audit story national
9:40p ET Wednesday, September 1, 2010
Dear Friend of GATA and Gold:
Congratulations to Kitco News and its reporter Daniela Cambone for having broken last week what this week Fox News made into a national story, the call by U.S. Rep. Ron Paul, R-Texas, for a serious audit of U.S. gold reserves. The Fox News story, broadcast and posted today and appended here, is notable for two reasons apart from calling attention to the audit issue.
First, the Fox News story quotes Paul as remarking that the audit should determine not only the simple presence of gold in the U.S. government's vaults at...
- IMF sells 16.85 tons, Russia buys 16.2 tons in July
By Claudia Carpenter
Bloomberg News
via Bloomberg Business Week
Wednesday, September 1, 2010http://www.businessweek.com/news/2010-09-01/imf-gold-assets-fall-16-85-t...
LONDON -- The International Monetary Fund's gold reserves fell by 16.85 metric tons in July as Russia added 16.2 tons to its holdings, according to figures from the Washington-based lender.
Reserves of gold at the IMF were 2,917.07 tons at the end of July, compared with 2,933.92 tons a month earlier, data on the IMF's website show. Russia increased holdings to 726.02 tons last month from 709.81 tons, according to the figures.
The IMF plans to sell a total of 403.3 tons of gold. India, Mauritius, and Sri...
- Morgan Chase said to end proprietary trading in commodities
If Morgan Chase has been trading for Fed or Treasury accounts, this will mean nothing. But maybe it will slow up any investigation of the Morgan Chase silver market rigging in London.
* * *
JPMorgan Said to End Proprietary Trading to Meet Volcker Rule
By Dawn Kopecki and Chanyaporn Chanjaroen
Bloomberg News
Tuesday, August 31, 2010http://www.bloomberg.com/news/2010-08-31/jpmorgan-is-said-to-shut-propri...
NEW YORK -- JPMorgan Chase & Co., the second-largest U.S. lender by assets, told traders who bet on commodities for the firm's account that their unit will be closed as the company begins to shut down all its proprietary trading, according to a person briefed...
- Robert Kientz: Gold, silver market suppression failures flash buy signal
10:57a ET Tuesday, August 31, 2010
Dear Friend of GATA and Gold:
GATA's work continues to gain recognition and credibility, as demonstrated today by a series of essays that has begun to be posted at Seeking Alpha by Robert Kientz, an auditor and former broker and currency market analyst. The essays are titled "Gold and Silver Market Suppression Failures Flash Buy Signal" and you can find the first part at Seeking Alpha here:
http://seekingalpha.com/article/223037-gold-and-silver-market-suppressio...
And Part 2 here:
http://seekingalpha.com/article/223091-gold-and-silver-market-suppressio...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
ADVERTISEMENTSona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration of...- Now that GATA can be quoted, can central banks be asked?
6:06p ET Monday, August 30, 2010
Dear Friend of GATA and Gold:
For years GATA banged on the door of the Financial Times, including a meeting in London with the newspaper's commodities reporter a year and a half ago, trying to get some attention for the international central bank gold price suppression scheme. The clamor went without result until this weekend, when the FT published a long story about gold by the paper's personal finance reporter, Ellen Kelleher, which was also in large part about GATA's work. The interview with GATA Chairman Bill Murphy that was cited in the story took place...
- Backlash over China's curb on rare-earth metal exports
By Ambrose Evans-Pritchard
The Telegraph, London
Sunday, August 30, 2010http://www.telegraph.co.uk/finance/newsbysector/industry/mining/7970872/...
China's draconian export curbs on rare earth minerals needed by the rest of the world for frontier technologies is escalating into a serious diplomatic and trade clash with the United States and other leading powers.
Japan's foreign minister Katsuya Okada issued what amounted to a formal protest at top-level meeting with Chinese officials in Beijing over the weekend, saying the sudden cut-off was "affecting the global production chain."
It is the latest sign of rising pressure after angry complaints by companies outside China that rely on this family of...
- Gene Arensberg: Something changed in silver market last week
9:45p ET Sunday, August 29, 2010
Dear Friend of GATA and Gold (and Silver):
Gene Arensberg's weekly "Got Gold Report" concentrates on silver tonight and he writes that something changed in the silver market last week, starting with silver's "outside reversal" day on Tuesday, and it looks bullish. Arensberg's commentary is headlined "Focus on Silver" and you can find it at the Got Gold Report Internet site here:
http://www.gotgoldreport.com/2010/08/focus-on-silver-.html
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
ADVERTISEMENTProphecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource
Prophecy Resource Corp. (TSX.V: PCY) announced on May 11...
- Bubble is in dollar, bonds, not gold, Turk tells King World News
10:55a ET Saturday, August 28, 2010
Dear Friend of GATA and Gold (and Silver):
GoldMoney founder, Freemarket Gold & Money Report editor, and GATA consultant James Turk tells King World News today that the market bubble is not in gold but in the U.S. dollar and U.S. government bonds, that silver is cheap relative to gold but more volatile, that investors are starting to realize the difference between real metal and paper claims on it, and a lot more. You can listen to the interview here:
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/8/28_J...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
ADVERTISEMENTSona Resources Expects Positive...
- Egon von Greyerz: Gold entering a virtuous circle
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