Thursday, June 24, 2010


U.S. intelligence debates China's use of bond holdings as weapon
Submitted by cpowell on Thu, 2010-06-24 01:13. Section: Daily Dispatches
By Emily Flitter
Wednesday, June 23, 2010

NEW YORK -- U.S. intelligence officials and top academics last week debated the risk China could wield its massive U.S. debt holdings as a weapon aimed at influencing U.S. foreign policy, according to a person who attended the meeting...

But Jeff Christian says central banks hardly ever think about gold
Central Banks See Growing Reserve Asset Role for Gold
By Jack Farchy and Javier Blas
Financial Times, London
Wednesday, June 23, 2010

Nearly a quarter of central banks believe gold will become the most important reserve asset in the next 25 years, according to an annual poll by UBS.

Jeffrey Nichols: Looking behind the Saudi gold holdings increase

Dear Friend of GATA and Gold:

Writing for Resource Investor, Jeffrey Nichols of Rosland Capital in Santa Monica, California, notes the sudden more than doubling of the gold reserves reported by Saudi Arabia and speculates that Saudi Arabia and other oil-exporting nations are likely buying gold "on the sly through their sovereign wealth funds that do not necessarily report their investment holdings." If so, the gold suppression scheme of the paper pushers in London and New York may be very near its end. Nichols' commentary is headlined "Looking Behind the Saudi Gold Holdings Increase" and you can find it at Resource Investor here:

Peter Grandich: The farce and the fact
Submitted by cpowell on Wed, 2010-06-23 14:37. Section: Daily Dispatches
10:35a ET Wednesday, June 23, 2010

Dear Friend of GATA and Gold:

Market analyst Peter Grandich today reminds his readers that tomorrow is June options expiry for gold and that the day's futures price plunge is just the "regular thievery" that takes place every month but has no lasting effect. Grandich's commentary is headlined "The Farce and the Fact" and you can find it here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Dear Friend of GATA and Gold:

Astounded by a recent comment by CPM Group executive Jeffrey M. Christian that central bankers hardly think about gold at all, Jim Richter, editor of The Richter Report, today provides a comprehensive explanation, supported in the historical record, as to why central bankers care very much about gold and even perceive it as their deadly enemy. Richter's commentary cites the academic study written by then-Harvard professor and future Treasury Secretary Lawrence Summers, "Gibson's Paradox and the Gold Standard," and draws on GATA's work. Richter's commentary is headlined "A Look at Gibson's Paradox and Gold" and you can find it at The Richter Report's Internet site here:

Erste Group Bank gold report cites market manipulation
Submitted by cpowell on Wed, 2010-06-23 12:44. Section: Daily Dispatches
8:40a ET Wednesday, June 23, 2010

Dear Friend of GATA and Gold:

Erste Group Bank in Vienna, long a vigorous advocate of gold ownership and monetization, has just published a magnificent report on gold's prospects, which the bank finds extremely bullish. The report includes a long section on manipulation of the gold market that cites many things GATA has publicized, including the complaint by London metals trader Andrew Maguire that GATA carried to the March 25 hearing of the U.S. Commodity Futures Trading Commission, and CPM Group executive Jeffrey Christian's testimony at that hearing about the extraordinary leverage used by traders on the supposedly physical gold market in London.

The Erste Group Bank gold report can be found at GATA's Internet site here:

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