Bank of England governor urges crypto reserve currency to end dollar dominance

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Anything but gold -- right, Governor?

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By Brian Swint
Bloomberg News
Friday, August 23, 2019

Bank of England Governor Mark Carney today laid out a radical proposal for an overhaul of the global financial system that would eventually replace the dollar as a reserve currency with a Libra-like virtual one.

This year more than ever, gold and silver investors should join GATA in New Orleans

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11:05a ET Friday, August 23, 2019

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy and your secretary/treasurer again will be speaking at the New Orleans Investment Conference this year, and in the letter below the conference's organizer, Gold Newsletter Editor Brien Lundin, explains why you should join us there.

Thom Calandra boosts his subscription offer to GATA supporters

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11a ET Friday, August 23, 2019

Dear Friend of GATA and Gold:

Dave Kranzler: Somebody else, not ETFs, took most gold sent to London from Switzerland in July

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11:35a ET Thursday, August 22 2019

Dear Friend of GATA and Gold:

Dave Kranzler of Investment Research Dynamics in Denver discloses today that Switzerland's unusual export of 90 tonnes of gold to London in July must have involved a lot more than acquisitions by gold exchange-traded funds, the explanation offered by Bloomberg News. (See http://www.gata.org/node/19371)

China eases restrictions on gold imports, sources tell Reuters

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By Peter Hobson and Yawen Chen
Reuters
Thursday, August 22, 2019

China has partially lifted restrictions on imports of gold, bullion industry sources said, loosening curbs that had stopped an estimated 300-500 tonnes of the metal worth $15-25 billion at current prices from entering the country since May.

Stubbornly strong dollar prompts talk of U.S. attack on China's currency

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By Eva Szalay
Financial Times, London
Thursday, August 22, 2019

Top Chinese bankers in London are warning of the drama that would follow any U.S. attempt to weaken the dollar by intervening in renminbi markets -- a move that would be seen by Beijing as a "political act."

Indian farmers reminded that gold is always as good as money

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Indians Pawning the Family Gold Amid Credit Crunch

By Rajendra Jadhav and Nupur Anand
Reuters
Thursday, August 22, 2019

Refused a loan by a state-run lender and desperate for funds to buy cotton seeds before the summer sowing season window closed, Indian farmer Babasaheb Mandlik ran out of choices -- he pawned his wife's gold jewelry.

Investors hoard most gold in ETFs in six years

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... And its custodian, HSBC, will be glad to short, swap, and rehypothecate it to prevent them from profiting from it.

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By Ranjeetha Pakiam
Bloomberg News
Thursday, August 22, 2019

FT imagines 'financial literacy' is defeating gold in India

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11:11a ET Wednesday, August 21, 2019

Dear Friend of GATA and Gold:

Predictably enough the Financial Times report today that is appended here underplays the Indian government's unending war against gold, while acknowledging that the government's paperization campaign has failed so far.

Switzerland has a new way to impose the world's lowest interest rate

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By Catherine Bosley and Richard Jones
Bloomberg News
Wednesday, August 21, 2019

The Swiss National Bank has a new way of enforcing the world's lowest interest rate.