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Daily Dispatches
Why metals keep going missing in commodity trading
Submitted by admin on Sat, 2023-02-11 11:03 Section: Daily DispatchesGood thing that Bloomberg and other mainstream financial news organizations never examine rehypothecation in the monetary metals markets.
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From Bloomberg News
via The Washington Post
Friday, February 10, 2023
Trader Trafigura Group is facing more than half a billion dollars in losses after realizing that cargoes it bought didn't contain the nickel they were supposed to, sending fresh shockwaves through an industry that has been rocked by several high-profile frauds in recent years.
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Bullion Star's Ronan Manly analyzes Newmont bid for Newcrest
Submitted by admin on Fri, 2023-02-10 21:24 Section: Daily Dispatches9:26p ET Friday, February 10, 2023
Dear Friend of GATA and Gold:
Bullion Star gold market analyst Ronan Manly tonight examines Newmont's bid for Australia's Newcrest Mining. Manly concludes that if the acquisition is approved, "Newmont will soon be way out in front of any of its peers, as the world's largest gold producer and the world's biggest gold stock on the New York Stock Exchange." But Barrick Gold or some other big company still could try to make a more attractive bid.
Ukraine war turns Russia into a nation of gold bugs
Submitted by admin on Fri, 2023-02-10 21:06 Section: Daily DispatchesBy Anastasia Stognei and Leslie Hook
Financial Times, London
Friday, February 10, 2023
After Russian President Vladimir Putin announced the country’s invasion of Ukraine last February, Natalia Smirnova's phone started ringing off the hook. The financial adviser's Russian clients were panicking.
"Should I buy gold?" one asked her. "If worse comes to worst, at least I can bury it."
That attitude was shared by many -- and turned Russia into an unexpected nation of gold bugs almost overnight.
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Pam and Russ Martens: Credit Suisse tanks as it acknowledges bank run
Submitted by admin on Fri, 2023-02-10 10:32 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Friday, February 10, 2023
Credit Suisse continued its long death spiral yesterday, losing 15.64% of its market value in one trading session to close at $3.02 on the New York Stock Exchange. The trading action came on the heels of an earnings report that was excruciatingly bad -- even for Credit Suisse.
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Alasdair Macleod: Money and recession
Submitted by admin on Thu, 2023-02-09 11:24 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, February 9, 2023
How reliable is the link between money supply growth and the economic outlook?
Monetarists are warning now that money supply has stopped growing and even turned negative, so we are heading for a recession. This article examines the position for U.S. dollar M2 money supply and the prospects for the U.S. economy.
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Swiss may vote on preventing cashless society
Submitted by admin on Mon, 2023-02-06 09:41 Section: Daily DispatchesBy John Stonestreet
Reuters
Monday, February 6, 2023
Swiss citizens will get the chance to try to ensure that their economy never becomes cashless, a pressure group said, after collecting enough signatures to trigger a popular vote on the issue.
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Relevant Gold Intersects 83.8 g/ton gold over 1 meter at Golden Buffalo
Newmont bids for Australia's Newcrest but it may not be enough
Submitted by admin on Mon, 2023-02-06 08:31 Section: Daily DispatchesBy Melanie Burton and Scott Murdoch
Reuters
Monday, February 6, 2023
MELBOURNE, Australia -- Top gold producer Newmont Corp said it had made a $16.9 billion offer for Australian peer Newcrest Mining Ltd. to build a global gold behemoth, although investors and analysts said it undervalued the target amid a leadership change.
Newcrest is seeking a new boss, with previous chief executive Sandeep Biswas having stepped down in December, while global interest rates are expected to peak this year and turn down, improving the outlook for gold prices.
Nouriel Roubini: A bipolar currency regime will replace the dollar's exorbitant privilege
Submitted by admin on Sun, 2023-02-05 11:00 Section: Daily DispatchesBy Nouriel Roubini
Financial Times, London
Sunday, February 5, 2023
The U.S. dollar has been the predominant global reserve currency since the design of the Bretton Woods system after the second world war. Even the move from fixed exchange rates in the early 1970s did not challenge the greenback's "exorbitant privilege."
Indian refiners pay traders in UAE dirhams for Russian oil, Reuters says
Submitted by admin on Sat, 2023-02-04 19:05 Section: Daily DispatchesBy Nidhi Verma
Reuters
Friday, Febraruy 3, 2023
NEW DELHI -- Indian refiners have begun paying for most of their Russian oil purchased via Dubai-based traders in United Arab Emirates dirhams instead of U.S. dollars, four sources with knowledge of the matter said.
NPR discovers the new global gold rush
Submitted by admin on Fri, 2023-02-03 21:17 Section: Daily DispatchesBy Stacey Vanek Smith
National Public Radio, Washington
Friday, February 3, 2023
2022 was a rough year for investors: Between inflation, falling stock prices, and the crypto crash, it was hard to find a safe haven.
All of that economic turmoil had a lot of investors looking at one of the most ancient places to store wealth: gold.
For decades, investing in gold has been seen as a very old school investment, for the maverick, perhaps slightly anti-establishment investor.
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