Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Friday, December 9, 2022

The FTX scandal has thrown the future of cryptocurrencies into doubt. Supporters of bitcoin, which has proved to be remarkably robust at a time when the whole cryptocurrency ecosystem is threatened by scandal and systemic collapse, are still asserting that it is the future money.

This is so silly and pathetic. How much gold did Chinese state banks and other enterprises purchase in the last three years, holding it off the books of the People's Bank of China? None? Does Bloomberg really think that China (or any rival of the United States) will be honest about its gold investories with the International Monetary Fund, the compiler of official gold reserve data and an instrument of U.S. dollar imperialism? At least Bloomberg could raise the question of unreported gold purchases by Chinese state agencies -- if the news agency ever wanted to get real. 

By Robert Lambourne
Wednesday, December 7, 2022

On November 10 my most recent commentary on the gold swaps of the Bank for International Settlements noted that "after 12 years in the gold swap business, the BIS seems to have just about gotten out":

https://gata.org/node/22286

It goes to show how wrong you can be, since the bank's November statement of account, just published --

By Greg Ritchie
Bloomberg News
via Yahoo News, Sunnyvale, California
Monday, December 5, 2022

There's a hidden risk to the global financial system embedded in the $65 trillion of dollar debt being held by non-US institutions via currency derivatives, according to the Bank for International Settlements.