GOLD SURVEY 2008

GFMS Gold Survey 2008 -

Invitation to the Toronto Launch

The launch of Gold Survey 2008 in

Toronto on Wednesday 9th April

2008.

Elena Patimova

Elena.Patimova@gfms.co.uk

Gold Survey 2008

Fri 2/29/08

GFMS Limited

Hedges House

153 – 155 Regent Street

London W1B 4JE

United Kingdom

Gold Survey 2008

Invitation to the Toronto Launch

Dear Sir / Madam,

GFMS cordially invites you to the launch of Gold Survey 2008 in Toronto on Wednesday 9th April 2008.

About Gold Survey 2008

Now in its 40th year, the annual Gold Survey is widely recognised as the most authoritative source of information on the international gold market. It provides an in-depth analysis of developments in the market and contains a wealth of statistics on the main gold trading, consuming and producing countries.

About the event

There will be a short presentation after breakfast by Neil Meader, Senior Analyst, GFMS. The event is kindly organised by the Toronto CFA Society.

Date Wednesday 9th April 2008

Venue: The National Club

303 Bay St.

Toronto, M5H 2R1

Timing: Registration & Breakfast: 7:45am

Presentation & Questions: 8:00-9:00am

Attendance Fees: Toronto CFA Society Members:

Non-members:

Tables of 8:

Tables of 10:

*+ GST

How to register Toronto CFA Members www.torontocfa.ca

Non-members jbarry@torontocfa.ca

Pre-order a copy of Gold Survey 2008

You may order a copy of Gold Survey online or by fax.

Gold Survey 2008 will also be launched in London and Johannesburg on the same day.

For further information, please contact GFMS:

by email: info@gfms.co.uk

by telephone: +44 (0)20 7478 1750

Regards

Elena Patimova

Sales & Marketing Manager

Independent – Informed – International

The GFMS Group:

Precious Metals

www.gfms.co.uk

Base Metals & Steel

www.gfms-metalsconsulting.com

Mining & Exploration

www.gfmsmining.com

Immediate Market Analysis

www.gfmsanalytics.com

GFMS Limited

Hedges House

153 – 155 Regent Street

London W1B 4JE

United Kingdom

tel: +44 (0)20 7478 1777

fax: +44 (0)20 7478 1779

email: info@gfms.co.uk

Elena Patimova (Elena.Patimova@gfms.co.uk)

Quick Links

Pre-order a copy of Gold Survey 2008 (online)

Pre-order a copy of Gold Survey 2008
(by fax)

GFMS Web Site

GFMS cordially invites you to the launch of Gold Survey 2008 in Toronto on Wednesday 9th April 2008.

Fri 2/29/08

GLOBALIZATION OF U.S. BUSINESS INVESTMENT: DALLAS FED

Dallas Fed

The Globalization of U.S. Business Investment

pubs@mail-list.com

on behalf of Dallas Fed Publications

dal.webmaster@dal.frb.org

Fri 2/29/08

Dallas Fed

pubs@mail-list.com

on behalf of Dallas Fed Publications

(dal.webmaster@dal.frb.org)

Fri 2/29/08

“The Globalization of U.S. Business Investment”

==============================================
The Globalization of U.S. Business Investment
Staff Papers
Number 3, February 2008
Federal Reserve Bank of Dallas
==============================================
The latest issue of Staff Papers documents some key facts about foreign direct investment flows by U.S. businesses overseas and foreign businesses in the United States.

“The Globalization of U.S. Business Investment” shows how the pattern of flows has evolved, examines the sources and destination of these flows, documents associated employment and productivity gains, and shows how investment-related sales compare with
traditional exports.

Read more at http://dallasfed.org/research/staff/2008/staff0801.cfm

Federal Reserve Bank of Dallas

please forward this message

http://dallasfed.org/pubs/e-sub/e-pubs.html

Comments, questions and suggestions:

Please e-mail us at: dal.webmaster@dal.frb.org.

1302 Waugh Dr. #438 Houston, Texas 77019 USA

“The Globalization of U.S. Business

Investment”

Dallas Fed

The Globalization of U.S. Business Investment

pubs@mail-list.com

on behalf of Dallas Fed Publications

dal.webmaster@dal.frb.org

Fri 2/29/08

BANK FOR INTERNATIONAL SETTLEMENTS BIS REVIEW NO. 21 2008: GLOBALIZATION & INFLATION

BIS Review

Bank for International Settlements

BIS Review No 21 available

Press, Service (Press.Service@bis.org)

Publications, Service (Publications@bis.org)

Fri 2/29/08

Please find BIS Review No 21 attached as an Adobe Acrobat (PDF) file.

Alternatively, you can access this BIS Review on the Bank for International Settlements’ website by clicking on http://www.bis.org/review/index.htm.

What’s included?

BIS Review No 21 (29 February 2008)

Jean-Pierre Roth: The Swiss economy and financial centre – successes and new challenges

Nout Wellink: Recent market turmoil – implications for supervisors and risk managers

Jean-Claude Trichet: Globalisation, inflation and the ECB monetary policy

Durmuş Yılmaz: Access to finance and capital markets development

Lucas Papademos: Address upon receiving the 2007 “Risk Manager of the Year” Award of the Global Association of Risk Professionals

Frederic S Mishkin: Does stabilizing inflation contribute to stabilizing economic activity?

________________________________

please e-mail press.service@bis.org.

BIS Review No 21 available

BIS REVIEW

Bank for International Settlements

Press, Service (Press.Service@bis.org)

Publications, Service (Publications@bis.org)

Fri 2/29/08

WEEKLY ECONOMIC INDICATORS: DRESDNER

Weekly Economic Indicators

Allianz Dresdner Economic Research

60301 Frankfurt/Main

Born, Kristine

Kristine.Born@Dresdner-Bank.com

Fri 2/29/08

Allianz Dresdner Economic Research

60301 Frankfurt/Main
Tel.: 0 69 / 2 63 – 1 98 62
Fax: 0 69 / 2 63 – 1 87 91
visit: http://www.group-economics.allianz.de
http://www.group-economics.allianz.com
_________________________________
Dresdner Bank AG

Corporate Headquarters: Frankfurt am Main, Germany

Weekly Economic Indicators

Allianz Dresdner Economic Research

60301 Frankfurt/Main

Born, Kristine (Kristine.Born@Dresdner-Bank.com)

Fri 2/29/08

BANK FOR INTERNATIONAL SETTLEMENTS BIS REVIEW NO. 6 & 7 2008: BERNANKE PLUS ISLAMIC FINANCE

BIS Review No 7 available

BIS Review

Bank for International Settlements

Please find BIS Review No 7 attached as an Adobe Acrobat (PDF) file.

Alternatively, you can access this BIS Review on the Bank for International Settlements’ website by clicking on http://www.bis.org/review/index.htm.

What’s included?

BIS Review No 7 (22 January 2008)

Jean-Claude Trichet: The successful entry of Cyprus into the euro area

Jean-Claude Trichet: The creation of economic and corporate wealth in a dynamic economy

Glenn Stevens: Economic prospects in 2008 – an Antipodean view

Amando M Tetangco, Jr: Moving the economy forward to a higher growth path

John Gieve: The impact of the financial market disruption on the UK economy

________________________________

please e-mail press.service@bis.org.

BIS Review No 7 available

Press, Service (Press.Service@bis.org)

Wed 1/23/08

Publications, Service (Publications@bis.org)

BIS Review No 6 available

Please find BIS Review No 6 attached as an Adobe Acrobat (PDF) file. Alternatively, you can access this BIS Review on the Bank for International Settlements’ website by clicking on http://www.bis.org/review/index.htm.

What’s included?

BIS Review No 6 (18 January 2008)

Ben S Bernanke: The economic outlook

Jean-Claude Trichet: A few remarks on communication by central banks

Svein Gjedrem: Ethics and the Government Pension Fund – global

Zeti Akhtar Aziz: Towards gaining global growth potential of Islamic finance

Jürgen Stark: Knowns and unknowns about the creation of economic wealth in the euro area

________________________________

please e-mail press.service@bis.org.

BIS Review No 6 available

Press, Service (Press.Service@bis.org)

Publications, Service (Publications@bis.org)

Fri 1/18/08

THIRD MIDDLE EAST IPO SUMMIT: ABU DHABI MARCH 16 2008

Islamic Finance Newsletter

‏

iirdubai@mailmanager.icebase.net

on behalf of Swati Taneja – IIR

(webmaster@iirme.com )

Thu 2/28/08

IIR’s Middle East IPO Summit is the original IPO event in the Middle East and through our successful running of these events in Dubai and Saudi Arabia, an annual event has been created that is unsurpassed in the region. Due to increased demand, the 3^rd Middle East IPO Summit will be held in Abu Dhabi for the first time. This is the first IPO event ever to be held in the emirate, reconfirming our status as the market leaders in capital market and investment conferences throughout the region.

The event will once again consist of debate and discussion amongst investment experts, regulators and market leaders, and will be structured to allow as much networking as possible. The Summit will provide delegates with a complete understanding of all the fundamental IPO issues as well as tackling all the latest developments within an extremely active market. These include regulatory issues, how market volatility affects IPOs and capital markets, and what new products and issues have changed the environment in the last year.

This year, along with the plethora of IPO and capital market professionals providing expert analysis and opinion on the state of the region’s equity markets, the inaugural Middle East Investment Day will bring together the foremost investment experts from the region and beyond. You will gain an understanding about investment trends and opportunities regionally and internationally from some of the most successful current market players.

Islamic Finance Newsletter –

Sukuk: A Rich Man’s Club?

MIDDLE EAST IPO EVENT

SARKOZY'S FRANCE AND THE MIDDLE EAST

BESA Perspectives No. 39:

“France, the EU, and the ME in the

Sarkozy Era”

Tsilla Hershco

27 Feb 2008

Besa.Center@mail.biu.ac.il

Wed 2/27/08

France, the European Union and the Middle East in the Sarkozy Era

Tsilla Hershco

Perspectives Paper No. 39

February 27 2008

http://www.biu.ac.il/SOC/besa/perspectives39.html

Executive Summary:

President Nicolas Sarkozy, since his accession in May 2007, attracts considerable attention and media coverage, not only for his captivating private life, but also due to his numerous internal reform initiatives and his intensive diplomatic agenda on the international scene. Sarkozy’s policy represents traditional French aspirations to play a prominent role in the international arena in general and in the Middle East in particular. Thus, it embraces past objectives and perceptions, while concurrently adopting new energetic methods and activism adapted to Sarkozy’s style and worldwide vision. Sarkozy aims to increase France’s influence and promote French interests in the Middle East, by strengthening the European Union’s global role and by advancing initiatives such as the Common European Foreign and Defense Policy (CFDP) and the Mediterranean Union (MU). Sarkozy’s vision for France, the EU and the ME is meeting considerable challenges and obstacles not insurmountable as long as realism and prudence prevail.

Internal Reforms

During his electoral campaign, Sarkozy pledged to rehabilitate France’s ailing economy and to deal with problems such as illegal immigration, suburban violence, unemployment, a cumbersome legal system and faltering education and health systems. The first months of his presidency were indeed marked by the launching of numerous and profound internal economic, social and political reforms designed to modernize his country and enable it to better compete in a globalized world. However, some ominous signs of difficulties are already apparent, leading to significant decrease in Sarkozy’s popularity in public opinion surveys.

A Strong European Union

Another sphere of Sarkozy’s endeavor to restore French power and influence is related to his attitudes towards the EU. Seemingly, France, as a middle-sized power, perceives the creation of a politically and militarily strong Europe as a tool for promoting French influence in the international arena. Thus, in his first address to the diplomatic corps on August 27, 2007, Sarkozy stressed: “The construction of Europe will remain the absolute priority of our foreign policy. France is not strong without Europe, just as Europe is not strong without France.”

In June 2007, a short time after his election, Sarkozy led a successful initiative to extricate the EU from its constitutional stalemate and adopt the abridged constitutional treaty. The abridged treaty could lead to a more integrated and coherent CFDP and enable Europe, according to Sarkozy’s vision, to address international crises through military intervention, humanitarian assistance and financial aide. In the second half of 2008, when France assumes the rotating presidency of the EU, promoting the CFDP will probably play a major role.

Yet, the EU is still coping with unsolved internal problems and challenges, such as the integration of the new member states recently incorporated into the EU, and significant differences of opinion between France and Germany, the two states who have always been the driving force behind the European construction. Subsequently, the adoption of ambitious plans risks arousing disagreements and might become counterproductive.

The Middle East

The Middle East remains a pillar of high priority in the construction of Sarkozy’s foreign policy. Historical presence since the crusades, geographic proximity, colonial history and shared economic and strategic interests as well as tight personal contacts between French leaders and Middle Eastern and Muslim leaders led to the well-known French “Politique Arabe.”

Soon after assuming his post, Sarkozy, with his hyperactive style and his determination to promote the French economy, launched numerous foreign policies, establishing the basis for more active French involvement in the Middle East. Assisted by Foreign Minister Bernard Kouchner, known as the “French doctor,” a humanitarian activist with interventionist inclinations, Sarkozy occupied the headlines with numerous overtures to Libya, Iraq, Syria, North Africa, the Gulf countries and Egypt, with mediation efforts in Lebanon, a fund raising conference for the creation of a Palestinian state and meetings with Israeli and Palestinians leaders. A noteworthy development in French Middle East policy is the offering of civilian nuclear cooperation to a range of Arab countries, including Saudi Arabia, Egypt, Libya, the United Arab Emirates and Morocco. Confronting criticism in the EU and elsewhere, Sarkozy asserted that in principle Muslim and Arab states have the same right to civilian atomic energy as any other part of the world.

Despite Sarkozy’s new style, and his energetic initiatives, Sarkozy’s Middle East policy does not represent a break with traditional French policy but essentially preserves its main features.

The Israeli-Palestinian Conflict

Sarkozy’s election sparked expectations in Israel of a new era in French-Israeli relations. These were related to Sarkozy’s friendly declarations towards Israel, including his sensitivity to Israel’s security. Indeed, the ambiance of French-Israeli relations has improved considerably after the election of Sarkozy. The tightening and broadening of bilateral relations, a process which had started during Chirac’s tenure, is equally evident.

Nonetheless, substantial differences of opinion, which have characterized French-Israeli relations in the past, still persist. For instance, France and Israel diverge over the interpretation of UN Security Council Resolution 242 concerning border modification in the final peace arrangement. In addition, major differences of opinion exist, as in the past, regarding Israeli use of force against Palestinian terror. Thus, despite France’s unequivocal condemnation of the launching of rockets from Gaza, it also expresses its opposition to Israeli military operations, demanding Israel’s restraint.

In a January 2008 meeting with Ehud Barak, Sarkozy expressed his conviction that following the Annapolis conference (November 2007) and the conference of donors in Paris (December 2007), a Palestinian state would be created by the end of 2008. Sarkozy declared in his August 2007 speech: “Peace will be negotiated first and foremost between the Israelis and the Palestinians.” Hopefully, France and the EU adopt this approach and refrain from pressing Israel for premature and hasty concessions that might lead to counterproductive results.

The Lebanon Crisis

Sarkozy’s policy on Lebanon, which displays a great measure of continuity, emphasizes France’s historical and emotional ties with Lebanon and its uncompromising support for Lebanon’s territorial integrity and sovereignty. France continues to declare that its ultimate intention is to bring about the dismantling of the militias in Lebanon according to UN Resolutions 1559 and 1701. However, it stands by its refusal to declare Hizballah a terrorist organization, claiming it constitutes an integral part of political life in Lebanon. This policy was adopted by the EU as well.

Sarkozy’s France made clear its intent to use its diplomatic influence in order to reach a national agreement between the opposing factions in Lebanon and avoid the eruption of a new civil war. Against the backdrop of political paralysis, French inability to impose a compromise threatens to undermine French prestige and influence in the region. Moreover, the failure to reach a solution entrains a political confrontation with Syria and Iran due to their meddling in Lebanese internal affairs.

Iran

Apart from the Lebanese context, Sarkozy leads a hard line against Iran’s nuclear intentions, which he considers as a major threat to the world’s security. Consequently, France advocates a third sanctions resolution at the UN Security Council and also conducts intensive efforts to promote unilateral European sanctions. Evidently, Sarkozy’s position against Iran is more hard-line than that of his predecessor and is followed by tightened cooperation with the US on this issue. However, France has encountered serious difficulties in convincing European countries, notably Germany and Italy, to support unilateral sanctions against Iran.

Mediterranean Union

As part of his Middle East vision, Sarkozy proposed the creation of a Mediterranean Union (MU), which illustrates Sarkozy’s perception of the interdependence of the EU and the Middle East. The MU is a proposed community of countries bordering the Mediterranean Sea, planned to be established in 2008, and to deal with issues such as counter-terrorism, immigration, energy, trade, water and sustainable development. Upon launching this ambitious initiative, Sarkozy declared enthusiastically: “What was done for Europe 60 years ago, we will do today for a Mediterranean Union.”

The idea of the MU, at its present blurry stage, already encounters criticism and skepticism. It was seen as a French endeavor to bypass the existing 12-year Barcelona process and promote France’s own influence in the EU at the expense of other states such as Germany. Severe criticism equally emanates from Turkey, which perceives the MU as a means of rejecting Turkey’s accession to the EU. Moreover, skepticism concerning the prospects of implementing the MU is expressed as a result of the undemocratic, economically underdeveloped character of some of the Mediterranean countries.

Yet, among the pessimistic prognostics some optimistic observations and prospects might be discerned: First, Israel might benefit from the general perception of viewing the Middle East’s problems as a whole and not through the sole prism of the Israeli-Palestinian conflict. In addition, it might be feasible to accomplish modest specific projects that would enable the long term creation of regional cooperation in the Middle East. It should be stressed that Sarkozy indeed declares his determination to fight against radical Muslim terror organizations that wish to prevent Western influence, though he concurrently expresses his wish, as his predecessors, to avoid a clash between the Islam and the West.

Conclusion

Sarkozy’s vision for France, the EU and the ME is meeting enormous challenges and obstacles. Indeed, Sarkozy’s worldwide vision, his energetic activism as well as French diplomatic expertise are an important asset in the making of a strong EU and might lead to positive developments in the ME for the long term. Nevertheless, vision and activism must be balanced with a practical, realistic, and cautious approach since there are no instant magic formulas for solving ME problems.

Dr. Tsilla Hershco, a research associate at the Begin-Sadat (BESA) Center for Strategic Studies, specializes in Franco-Israeli relations.

BESA Perspectives is published through the generosity of the Littauer Foundation.

BESA Perspectives No. 39:

“France, the EU, and the ME in the Sarkozy Era”

Tsilla Hershco 27 Feb 2008

Besa.Center@mail.biu.ac.il

France, the European Union and the Middle East in the Sarkozy Era

Tsilla Hershco

Wed 2/27/08

GLOBALIZATION AND THE WORLD SYSTEM

Globalization as Evolutionary

Process: Modeling Global Change

(Rethinking Globalizations)

by George Modelski (Editor),

Tessaleno Devezas (Editor)

William R. Thompson (Editor)

Product Details

Paperback: 464 pages

Publisher: Routledge; 1 edition

(February 19, 2008)

Language: English

ISBN-10: 041577361X

ISBN-13: 978-0415773614

Pomeranz, Kenneth review of

The Emergence of the Global

Political Economy

Journal of World History –

Volume 13, Number 2, Fall 2002, pp. 500-504

University of Hawai’i Press

Kenneth Pomeranz – The Emergence of the

Global Political Economy

(review) – Journal of World History 13:2

Journal of World History 13.2 (2002) 500-504

Review:

The Emergence of the Global

Political Economy

By WILLIAM R. THOMPSON

London and New York: Routledge, 2000. Pp. xi + 252. $25.99 (paper).

This is a provocative book which seeks patterns in political conflict and dominance in the global political economy – both patterns of evolution, in which the twentieth-century world can be seen as emerging from the dynamics of the system in an earlier period. Thompson argues that we have had a “world system” in some meaningful sense since the tenth century, when Song China’s commercialization touched off ripples across Eurasia. He also says that the rhythms of this world economy can be explained by Kondratieff waves, which last roughly sixty years and result from spurts of technical innovation. This last claim does not persuade me, but a brief review is not the place to debate it, and this book is quite interesting even if one doubts this piece of its foundation. In Thompson’s view, the innovations that touch off waves of growth give a particular society an opportunity for political/economic dominance based on their leadership in, or even monopoly over, the cutting edge sectors(s). (No distinction is made here between monopolies based on…

The Emergence of the Global

Political Economy

by William R.Thompson

Book Description

The Emergence of the Global Political Economy challenges assumptions that the international political economy is a recent phenomenon. Instead, this volume asserts that the current global political economy began to take shape around 1500 and that some of today’s key processes were already perceivable hundreds of years ago.

The author explains the interdependence between long-term economic growth, global political leadership and global war and how this interdependence has evolved over the past 500 years, and includes discussions of:

the ascendance of Western Europe and the significance of the 1490s

the military superiority thesis

sequences of leadership and of challenge to the global political economy

the importance of commodities from sugar and cloth to slaves and bullion.

About the Author

William R. Thompson is Professor of Political Science at Indiana University and was formerly co-editor of International Studies Quarterly (1994-1998). His publications include The Great Powers and the Global Struggle, 1490-1990 (1994) and Great Power Rivalries (1998).

——————————————————————————–

Product Details

Format: Kindle Edition

File Size: 3040 KB

Print Length: 288 pages

Publisher: Taylor & Francis (March 14, 2007)

Sold by: Amazon Digital Services

Language: English

ASIN: B000FBF9OG

The Emergence of the Global Political Economy

…we have had a “world system” in some meaningful sense since the tenth century, when Song China’s commercialization touched off ripples across Eurasia. He also says that the rhythms of this world economy can be explained by Kondratieff waves

THREE MISUNDERSTANDINGS OF 2008

MISUNDERSTANDING 2008

People do what they know how to do and think familar thoughts and that gives you 2008′s three immediate reactions to present upheavals and fluctuations:

1. “Old Left” like Robert Kuttner (“American Prospect” magazine) and Professor Barry Bluestone, the labor economist often heard on NPR.

This represents a back-to-FDR tendency.

2. “Old Right” who represent a back-to-Hoover tendency.

This tendency fuses dreams of laissez-faire anarcho-Darwinism such as exemplified by Margaret Thatcher and Ayn Rand.

3.“New Right”/neocons who foresee “the coming anarchy” which they welcome since their basic belief, as rightwing revolutionaries, is that “worse is better.”

These revolutionaries are basically agents of the Israeli Right and include Perle, Kristol, Robert Kaplan, Charles Krauthammer, Robert Kagan (McCain’s theoretician), et al.

If you realize that all of these tendencies represent various misdirections wedded to a vanished past or a fascistic neocon/Zionist scheme for a violent future of “war without end.” (see image)

This last tendency (tendency 3) wants a world at war and is thus itself another back-to-the-thirties scheme, like the other two thrusts.

MISUNDERSTANDING 2008

SECURITIES AND FUTURES COMMISSION: HONG KONG

HKMA News Update

(Guidelines and Circulars) –

26 Feb 2008

HONG KONG MONETARY

AUTHORITY

News Update: 26 Feb 2008

News@hkma.gov.hk

Tue 2/26/08

news@hkma.gov.hk

HONG KONG MONETARY AUTHORITY

News Update: 26 Feb 2008

The followings have been uploaded on the HKMA website:

Guidelines and Circulars

Fund Management Activities Survey 2007 Conducted by the Securities and Futures Commission (SFC)

http://www.info.gov.hk/hkma/eng/guide/circu_date/20080226e1_index.htm

For more information, please visit the homepage of the Hong Kong Monetary Authority at http://www.hkma.gov.hk

Hong Kong Monetary Authority

———————————————————————————–

please send an e-mail to webmaster@hkma.gov.hk

HKMA News Update (Guidelines and Circulars) – 26 Feb 2008

HONG KONG MONETARY AUTHORITY

News Update: 26 Feb 2008

HKMA’s News Update E-mail Service webmaster@hkma.gov.hk

Tue 2/26/08