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Daily Dispatches
Biggest buyer of Treasuries outside U.S. is quietly selling billions
Submitted by admin on Mon, 2022-05-02 11:16 Section: Daily DispatchesBy Michael Mackenzie and Chikako Mogi
Bloomberg News
Monday, May 2, 2022
In times of Treasury turmoil, the biggest investor outside American soil has historically lent a helping hand. Not this time round.
Japanese institutional managers -- known for their legendary U.S. debt-buying sprees in recent decades -- are now fueling the great bond selloff just as the Federal Reserve pares its $9 trillion balance sheet.
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Stress emerges again in Treasuries market
Submitted by admin on Sat, 2022-04-30 20:09 Section: Daily DispatchesBy John Dizard
Financial Times, London
Saturday, April 30, 2022
When the world's biggest and most liquid market shows signs of stress, investors should take note.
At the beginning of this month, major financial market participants trading in the U.S. Treasury bond market had difficulty meeting the demands for collateral made by their counterparties.
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Dollar's surge leaves a trail of destruction
Submitted by admin on Fri, 2022-04-29 23:20 Section: Daily DispatchesBy Saikat Chatterjee and Sujata Rao
Reuters
Friday, April 29, 2022
LONDON -- The dollar's race to two-decade highs is leaving a trail of destruction in its wake, exacerbating inflation in other countries and tightening financial conditions just as the world economy confronts the prospect of a slowdown in growth.
Maguire and Macleod discuss defections from Western financial system
Submitted by admin on Fri, 2022-04-29 23:09 Section: Daily Dispatches11:08p ET Friday, April 29, 2022
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire interviews GoldMoney research director Alasdair Macleod on this week's edition of Kinesis Money's "Live from the Vault" program, discussing the defection of China, Russia, and other countries from the Western financial system.
Macleod and Maguire see a "commodification" of currencies as the Western system collapses, leading to a revaluation of gold.
The discussion is 57 minutes long and can be seen at YouTube here:
Ambrose Evans-Pritchard: China faces double disaster, caught between virus and Putin
Submitted by admin on Fri, 2022-04-29 12:36 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Friday, April 29, 2022
China should abandon all illusions that the West is in terminal decline, or that a new world order of authoritarian regimes is dawning.
It should ditch Vladimir Putin immediately. The country should not be tainted by the retrograde adventurism of a loser. Beijing should instead seek a new concordat with Washington, acting as a conciliatory stakeholder power.
Russian central bank chief rejects linking ruble to gold, differing with Kremlin
Submitted by admin on Fri, 2022-04-29 11:47 Section: Daily DispatchesFrom Bloomberg News
Friday, April 29, 2022
Bank of Russia Governor Elvira Nabiullina today dismissed the idea of pegging the ruble to gold after the Kremlin said it was a proposal under consideration.
"It is not being discussed in any way," Nabiullina told reporters at a briefing after the central bank cut the key interest rate by 300 basis points.
The ruble must continue to have a floating exchange rate, she said, though volatility of the currency will be higher amid capital controls imposed after Russia began its invasion of Ukraine.
Ronan Manly: Kremlin confirms intention to back the ruble with gold and commodities
Submitted by admin on Thu, 2022-04-28 20:14 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Thursday, April 28, 2022
On Tuesday, April 26, in an interview with newspaper Rossiyskaya Gazeta, the secretary of the Russian Federation’s Security Council, Nikolai Patrushev, said that Russian experts are working on a project to back the Russian ruble with gold and other commodities.
The interview, which is in Russian, can be seen on the newspaper's website here:
Tennessee becomes 42nd state to end sales taxes on gold and silver
Submitted by admin on Thu, 2022-04-28 13:05 Section: Daily DispatchesBy Stefan Gleason
Money Metals Exchange, Eagle, Idaho
via Coin Week, Ormond Beach, Florida
Thursday, April 28, 2022
Both houses of the Tennessee legislature yesterday overwhelmingly passed bills that would make the Volunteer State the 42nd state in the U.S. to remove sales taxes from constitutional sound money -- gold and silver).
Alasdair Macleod: Building a better banking system
Submitted by admin on Thu, 2022-04-28 12:54 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, April 28, 2022
This article anticipates the rapidly approaching time when we might be engulfed in a combined currency, asset, and banking crisis. It is becoming clear that such an event can no longer be ruled out.
Ed Steer: The nearly comprehensive complicity in monetary metals price suppression
Submitted by admin on Thu, 2022-04-28 11:37 Section: Daily DispatchesCanadian mining and media mogul and zillionaire Frank Giustra, quoted below in an excerpt from GATA board member Ed Steer's market letter today, has declined over the years several requests to help GATA or just acknowledge its work. But then as a respectable figure in the world's financial establishment and a pal and major financial benefactor of former President Bill Clinton --
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