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Daily Dispatches
50 years after 'show audit,' status of U.S. gold reserve remains in doubt
Submitted by admin on Mon, 2024-09-23 22:28 Section: Daily Dispatches10:32p ET Monday, September 23, 2024
Dear Friend of GATA and Gold:
The Sound Money Defense League's policy assistant, Matthew Cortez, notes that today is the 50th anniversary of the U.S. Treasury Department's public relations stunt at Fort Knox in Kentucky, wherein a few gold bars in one of the bullion depository's 15 vault compartments were shown to members of Congress and some journalists.
Jan Nieuwenhuis: Nations in mBridge project are stockpiling gold, driving up price
Submitted by admin on Mon, 2024-09-23 19:05 Section: Daily DispatchesBy Jan Nieuwenhuis
Money Metals Exchange, Eagle, Idaho
Monday, September 23, 2024
Countries that participate in the novel cross-border payments system mBridge are each hoarding gold and are largely responsible for the bull market of the past two years.
How and when the global dollar standard will disintegrate is hard to predict, but setting up a non-dollar payments system (mBridge) and aggressively accumulating gold to replace U.S. Treasuries as the prime international reserve asset is a potent strategy to de-dollarize.
Are federally insured banks trading monetary metals derivatives for the government?
Submitted by admin on Mon, 2024-09-23 11:39 Section: Daily Dispatches11:41a ET Monday, September 23, 2024
Dear Friend of GATA and Gold:
In their report today at Wall Street on Parade, Pam and Russ Martens marvel at the increasing amount of stock, foreign exchange, and derivatives trading that has been moved into federally insured banks by Wall Street megabanks, federally insured banks that hold most deposits for ordinary Americans.
The Martenses also marvel at the explosion of monetary metals derivatives trading by federally insured banks. They write:
Financial Times discovers that the Federal Reserve serves only the banking industry
Submitted by admin on Sun, 2024-09-22 10:03 Section: Daily DispatchesFed's High-Rates Era Handed $1 Trillion Windfall to U.S. banks
By Stephen Gandel and Joshua Franklin
Financial Times, London
Sunday, September 22, 2024
U.S. banks made a $1 trillion windfall from the Federal Reserve's 2 1/2-year era of high interest rates, an analysis of official data by the Financial Times has found.
Lenders got higher yields for their deposits at the Fed but kept rates lower for many savers, the review of Federal Deposit Insurance Corp. data showed. The boost to the U.S.'s more than 4,000 banks has helped pad out profit margins.
U.S. gold suppression policy has been figured out and isn't working anymore, Maguire tells LFTV
Submitted by admin on Sat, 2024-09-21 08:40 Section: Daily Dispatches8:38a ET Saturday, September 21, 2024
Dear Friend of GATA and Gold:
Central banks not aligned with the United States have figured out U.S. gold price suppression policy and are blowing it away with steady purchases of physical gold, London metals trader Andrew Maguire tells this week's edition of Kinesis Money's "Live from the Vault" program with Shane Morand.
Mitch Daniels: 'The day the dollar died' is coming, so what's the plan?
Submitted by admin on Fri, 2024-09-20 08:17 Section: Daily DispatchesBy Mitch Daniels
The Washington Post
Friday, September 20, 2024
https://www.washingtonpost.com/opinions/2024/09/19/national-debt-disaster-plan-conference/
Record imports by India help drive gold rally
Submitted by admin on Fri, 2024-09-20 08:00 Section: Daily DispatchesThe Indian government's jettisoning its longstanding hostility to gold is a major indicator of dramatically changing times for the monetary metals.
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By Leslie Hook and Chris Kay
Financial Times, London
Thursday, September 19, 2024
A surge in demand among Indian consumers for gold jewellery and bars after a recent cut to tariffs is helping to drive global bullion prices to a series of fresh highs.
TFMR's Craig Hemke interviews GATA secretary about prospects for monetary metals
Submitted by admin on Thu, 2024-09-19 15:13 Section: Daily Dispatches3:14p ET Thursday, September 19, 2024
Dear Friend of GATA and Gold:
Alasdair Macleod: The threat to commodity derivatives
Submitted by admin on Thu, 2024-09-19 14:30 Section: Daily Dispatches2:30p ET Thursday, September 19, 2024
Dear Friend of GATA and Gold:
GoldMoney research director Alasdair Macleod today published in his proprietary letter on Substack an essay that brilliantly summarizes the longstanding Western gold price suppression policy and the dishonest philosophy behind it, with an emphasis on the use of financial derivatives against gold and all commodity prices, which another British economist, Peter Warburton, intuited back in 2001:
Zimbabwe aims to maximize gold revenue amid surge in world demand
Submitted by admin on Tue, 2024-09-17 22:57 Section: Daily DispatchesBy Tinei Tuhwe
NewZimbabwe.com
Bromsgrove, Worcestershire, England
Tuesday, September 17, 2024
Zimbabwe's mines ministry has launched the 2024 Second Gold Mobilisation exercise, aimed at ensuring compliance and maximizing revenue from the gold-mining sector.
Reports indicate that gold output is projected at 39 tons in 2024, up from around 33 tons in 2023, largely on the back of ongoing expansion projects and favorable prices.
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