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Daily Dispatches
LME seeks increased transparency to prevent repeat of nickel squeeze
Submitted by admin on Fri, 2022-05-13 11:10 Section: Daily DispatchesBy Mark Burton
Bloomberg News
Friday, May 13, 2022
The London Metal Exchange plans to force members to regularly report details of their over-the-counter metals positions, substantially expanding its market surveillance capabilities in the wake of this year’s nickel squeeze.
The LME has already imposed emergency limits on daily price moves to prevent a repeat of the 250% spike in nickel prices seen in March, and is now looking to expand its oversight of the bilateral deals agreed between dealers and their clients.
... Dispatch continues below ...
When buying gold and silver, consider the dealers who support GATA
Submitted by admin on Thu, 2022-05-12 23:36 Section: Daily Dispatches11:35p ET Thursday, May 12, 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.
Alasdair Macleod: The most difficult thing in economics is to explain rising prices
Submitted by admin on Thu, 2022-05-12 19:35 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, May 12, 2022
It is apparent from media commentary that there is considerable misunderstanding over the causes behind rising prices and the consequences for interest rates. There are now signs that the official narrative over these issues is misleading at best.
Trump-backed Mooney wins Republican House primary in West Virginia
Submitted by admin on Tue, 2022-05-10 22:17 Section: Daily DispatchesU.S. Rep. Alex Mooney, R-West Virginia, repeatedly has pressed the Federal Reserve, Treasury Department, and Commodity Futures Trading Commission with inconvenient questions about gold market manipulation.
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By Paul Steinhauser
Fox News, New York
Tuesday May 10, 2022
Rep. Alex Mooney is projected by the Associated Press as the winner in the Republican congressional primary in West Virginia's 2nd District in a battle with fellow Republican Rep. David McKinley.
Craig Hemke at Sprott Money: Upward reversals for gold and silver coming soon
Submitted by admin on Tue, 2022-05-10 21:50 Section: Daily Dispatches9:45p ET Tuesday, May 10, 2022
Dear Friend of GATA and Gold:
The TF Metals Report's Craig Hemke, writing today at Sprott Money, shrugs off the recent plunges in gold and silver futures and contends that upward reversals will happen soon as the Federal Reserve eases off its increases in interest rates to halt a stock market crash.
Hemke's analysis is headlined "Reality Bites: An Update" and it's posted at Sprott Money here:
Richard Bernstein: You are what your real fed funds rate says you are
Submitted by admin on Tue, 2022-05-10 10:45 Section: Daily DispatchesBy Richard Bernstein
Financial Times, London
Tuesday, May 10, 2022
Former NFL coach Bill Parcells famously said, "You are what your record says you are." A team's coach might try to rationalise a losing record by highlighting good planning, unfortunate injuries, or players' small miscues but the stark reality is a team with a losing record is a poor one.
The Federal Reserve claims to be fighting inflation, but before one proclaims the central bank "hawkish," it seems appropriate to paraphrase Parcells: You are what your real fed funds rate says you are.
Ronan Manly: Lack of audits undermines Lebanon's claim to be Middle East gold heavyweight
Submitted by admin on Mon, 2022-05-09 17:06 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Monday, May 9, 2022
With claimed gold reserves of 286 tonnes, Lebanon's central bank -- Banque du Liban -- trumpets itself as being one of the Middle East's largest sovereign gold holders. In fact, on a regional basis, only the claimed gold reserves of Saudi Arabia are larger.
Indeed, Banque du Liban governor Riad Salameh made this very claim as recently as April 8 to Egypt's Middle East News Agency, saying that Lebanon has the second largest gold reserves across the Middle East and North Africa.
Pam and Russ Martens: These stock patterns are impossible without manipulation SEC ignores
Submitted by admin on Mon, 2022-05-09 11:29 Section: Daily DispatchesDespite their longstanding heroic work, even the Martenses haven't yet realized that market manipulation conducted by or at the behest of the U.S. government is fully authorized by the Gold Reserve Act of 1934 as amended since then. The law gives market-rigging power to the U.S. Treasury Department's Exchange Stabilization Fund, which can use the New York Fed or any investment house as its broker.
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By Pam Martens and Russ Martens
Wall Street on Parade
Monday, May 9, 2022
Gold's 'strange behavior' explained once more for Bloomberg News
Submitted by admin on Mon, 2022-05-09 09:18 Section: Daily DispatchesMonday, May 9, 2022
Jared Dillian
c/o Bloomberg News, New York
When buying gold and silver, consider the dealers who support GATA
Submitted by admin on Sun, 2022-05-08 21:51 Section: Daily Dispatches9:52p ET Sunday, May 8, 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.
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