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Ambrose Evans-Pritchard: Markets are losing faith in the Federal Reserve's credibility
By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, May 13, 2021
The United States is engaged in an astonishing monetary experiment. The Federal Reserve is still conducting quantitative easing even as the rate of headline inflation hit 4.2 percent.
Core inflation has risen to a 25-year high of 3 percent, recording the biggest jump in a single month since 1981. Factory gate inflation has been running at a 7.1 percent annual growth rate over the last six months even before full reopening.
... Dispatch continues below ...
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Asante Gold C$5 Million Placement Is Oversubscribed
and Another C$2 Million Is Accepted;
Drilling Finds 7.47 g/t Gold over 30 Meters
Company Announcement
Monday, March 22, 2021
VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE, Frankfurt: 1A9, U.S. OTC:ASGOF) announces that assays have been received for the first hole of a three-hole geotechnical drill program at our Kubi Gold project in Ghana.
DDHK21-001 was collared approximately 100 meters to the north of the Kubi Pit, near the middle of the 1Kubi Main Mineral Resource. On this section gold mineralization has been previously outlined to a depth of 450 meters. The gold is free milling and occurs within a near vertical 1-kilometer by 1-meter to 15-meter-thick shear-bounded "garnet" zone.
Gold is associated with up to 30% garnet and 15% sulfide mineralization and as coarse gold in late quartz veins.
The drilling has confirmed typical Kubi Main Zone gold mineralization.
-- 30 meters grading 7.47 g/t gold (true width estimated at 7.5 meters), including:
-- 14.31 g/t over 10 meters.
-- 5.69 g/t over 9.0 meters.
-- 10.75 g/t over 16 meters.
Given the presence of visible gold and the numerous high assays received, samples have been resubmitted for screened metallics assays, which give more exact results when coarse gold is present. Further results will be announced as received. ...
... For the remainder of the announcement:
https://www.asantegold.com/news/cad-5-million-placement-oversubscribed-a...
The Biden administration is running a budget deficit of 13 percent of GDP this year even though the output gap closed in April and large parts of the economy are overheating. Small firms cannot find workers. Unfilled job openings have reached a record high.
Yet interest rates are zero and the Fed is still buying $120 billion of bonds each month, directly financing part of Washington’s "war economy" debt issuance. It is persisting even though the broad M3 money supply has grown at 24 percent over the last year. It is downplaying all evidence of pent-up inflation as "temporary." ...
... For the remainder of the report:
https://www.telegraph.co.uk/business/2021/05/13/markets-losing-faith-fed...
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