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Daily Dispatches
Zimbabwe to introduce gold coins to offer escape from soaring inflation
Submitted by admin on Mon, 2022-06-27 20:34 Section: Daily DispatchesGood grief, People! You're sitting on huge gold reserves. Make your paper money convertible to gold at a fixed rate and hold the rate. It won't be so hard when you can mine your own money. The rest of the world won't help you, and shouldn't help you when you so easily can help yourself.
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From The Herald
Harare, Zimbabwe
Monday, June 27, 2022
Ban on gold imports from Russia seen as 'largely symbolic'
Submitted by admin on Mon, 2022-06-27 00:22 Section: Daily DispatchesBy Ranjeetha Pakiam
Bloomberg News
Sunday, June 26, 2022
The plan by some Group of Seven nations to ban new gold imports from Russia is "largely symbolic" as flows have already been restricted by sanctions, according to analysts.
The U.S., U.K., Japan, and Canada plan to announce the ban during the G-7 summit that started Sunday in Germany.
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BIS annual report confirms GATA analysis of gold interventions, avoids Russia issue
Submitted by admin on Sun, 2022-06-26 23:28 Section: Daily Dispatches9:10a Monday, June 27, 2022
Dear Friend of GATA and Gold:
In his latest report on the gold market interventions of the Bank for International Settlements, appended here, GATA consultant Robert Lambourne is far too modest. For the bank's annual report, published Sunday, confirms the accuracy of Lambourne's years of doing monthly calculations of the bank's gold market interventions -- its involvement in gold swaps, about which the bank has been almost completely secret.
BIS urges decisive wave of interest rate increases to halt inflation
Submitted by admin on Sun, 2022-06-26 09:31 Section: Daily DispatchesBy Mac Jones
Reuters
Sunday, June 26, 2022
LONDON -- The central bank umbrella body, the Bank for International Settlements, has called for interest rates to be raised "quickly and decisively" to prevent the surge in inflation turning into something even more problematic.
The Swiss-based BIS has held its annual meeting in recent days, where top central bankers met to discuss their current difficulties and one of the most turbulent starts to a year ever for global financial markets.
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U.S. and allies will ban import of Russian gold
Submitted by admin on Sun, 2022-06-26 09:22 Section: Daily DispatchesBy Zeke Miller and Darlene Superville
Associated Press
Sunday, June 26, 2022
ELMAU, Germany -- President Joe Biden today praised the continued unity of the global alliance confronting Russia, as he and other heads of the Group of Seven leading economies strategized on sustaining the pressure in their effort to isolate Moscow over its months-long invasion of Ukraine.
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When buying gold or silver, consider the dealers who support GATA
Submitted by admin on Sat, 2022-06-25 22:33 Section: Daily Dispatches10:33p ET Saturday, June 25, 2022
Dear Friend of GATA and Gold:
Being the only forms of money without counterparty risk, at least when held directly by their owners, gold and silver are often seen as the foundation of a sound investment portfolio.
China's central bank, BIS set up renminbi liquidity arrangement
Submitted by admin on Sat, 2022-06-25 22:31 Section: Daily DispatchesBy Brenda Goh
Reuters
Saturday, July 25, 2022
SHANGHAI -- China's central bank said today it had signed an agreement with the Bank for International Settlements to establish a Renminbi Liquidity Arrangement that will provide support to participating central banks in times of market fluctuations.
Pam and Russ Martens: JPMorgan's derivatives surpass $60 trillion, a six-year high
Submitted by admin on Fri, 2022-06-24 11:17 Section: Daily DispatchesBut what if they are really U.S. government positions? This analysis notes that 100% of the bank's monetary metals derivatives and 96% of its foreign exchange derivatives are not centrally cleared. Might central clearing expose the government's connection?
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By Pam and Russ Martens
Wall Street on Parade
Friday, June 24, 2022
Add JPMorgan Chase, the biggest bank in the United States with an unprecedented five criminal felony counts since 2014, to the growing list of debacles of which the Federal Reserve has lost control.
Russia, China, other BRICs plan challenge to dollar with new reserve currency
Submitted by admin on Fri, 2022-06-24 10:27 Section: Daily DispatchesBy George Glover
Insider, New York
Friday, June 24, 2022
Russia is ready to develop a new global reserve currency alongside China and other BRICS nations, in a potential challenge to the dominance of the US dollar.
President Vladimir Putin signaled the new reserve currency would be based on a basket of currencies from the group's members: Brazil, Russia, India, China, and South Africa.
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Switzerland says Russian gold imports arrived from UK
Submitted by admin on Fri, 2022-06-24 10:05 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Friday, June 24, 2022
Gold recorded as originating from Russia arrived in Switzerland from the UK last month, according to the Swiss Federal Customs Administration.
More than 3 tons of gold -- worth about $200 million -- was recorded as being imported from Russia to Switzerland last month, according to customs data. The industry has been abuzz with speculation about the trade, especially after the association of Swiss refiners said its members hadn’t imported the metal.
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