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Daily Dispatches
So why doesn't the U.S. Mint try buying silver via futures contracts?
Submitted by admin on Thu, 2022-03-24 23:50 Section: Daily Dispatches11:51p ET Thursday, March 25, 2022
Dear Friend of GATA and Gold:
Responding tonight to Patrick Heller's explanation for the U.S. Mint's suspension of silver coin production -- that the mint is legally required to pay futures market prices for silver even as real metal isn't immediately available at those prices --
-- some friends raise a good question.
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Russian parliamentarian envisions selling oil and gas for bitcoin and gold
Submitted by admin on Thu, 2022-03-24 23:38 Section: Daily DispatchesBy MacKenzie Sigalos
CNBC, New York
Thursday, March 24, 2022
Faced with stiffening sanctions from Western countries over its invasion of Ukraine, Russia is considering accepting bitcoin as payment for its oil and gas exports.
In a videotaped news conference held on today, the chair of Russia's Duma committee on energy said in translated remarks that when it comes to "friendly" countries such as China or Turkey, Russia is willing to be more flexible with payment options.
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Patrick Heller: When it comes to buying silver, U.S. Mint's hands are tied
Submitted by admin on Thu, 2022-03-24 20:19 Section: Daily Dispatches8:16p ET Thursday, March 25, 2022
Dear Friend of GATA and Gold (and Silver):
Writing today at Numismatic News, veteran numismatist Patrick Heller explains that federal law is actually preventing the U.S. Mint from minting silver coins in a couple of usual series.
That is, Heller writes, the law forbids the mint from paying more for silver than the "average world price" as "determined by a widely recognized commodity exchange."
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G7 to crack down on Russia's ability to sell its gold
Submitted by admin on Thu, 2022-03-24 14:55 Section: Daily DispatchesHow, exactly? By imposing comprehensive sanctions on China? That will make the current trade disruptions seem like a picnic. What if Russia starts demanding gold as payment for its oil and gas, which Europe already has exempted from sanctions?
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James Politi and Sam Fleming
Financial Times, London
Thursday, March 24, 2022
Commodity traders sound alarm on plunging market liquidity
Submitted by admin on Thu, 2022-03-24 12:08 Section: Daily DispatchesBy Archie Hunter and William Mathis
Bloomberg News
via Yahoo Finance, Sunnyvale, California
Thursday, March 24, 2022
Whipsawing commodity prices and eye-watering margin calls are forcing traders to reduce their activity, driving liquidity out of markets and exacerbating price swings, according to some of the world’s biggest trading houses.
Hackers claim to be preparing to reveal Bank of Russia's secrets
Submitted by admin on Thu, 2022-03-24 11:55 Section: Daily DispatchesNow how about the Federal Reserve?
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Anonymous Claims It Has Hacked Russia's Central Bank and Will 'Release 35,000 Files with Secret Agreements' in 48 Hours
By Tom Pyman
Daily Mail, London
Thursday, March 24, 2022
International hacking collective Anonymous claims to have exploited Russia's central bank -- and is threatening to release 35,000 files which include "secret agreements," in the next 48 hours.
Nickel tycoon covered part of his big short position this week
Submitted by admin on Thu, 2022-03-24 11:34 Section: Daily DispatchesBy Jack Farchy and Alfred Cang
Bloomberg News
Thursday, March 24, 2022
The Chinese tycoon whose big short bet on nickel was the focus of an unprecedented short squeeze has covered some of his position, according to people familiar with the matter.
Xiang Guangda, the owner of nickel and stainless-steel giant Tsingshan Holding Group Co., bought contracts on the London Metal Exchange to reduce his short bet as the nickel market briefly unfroze this week, the people said, asking not to be identified as the information wasn’t public.
Russian central bank chief wanted out over Ukraine but Putin said no
Submitted by admin on Thu, 2022-03-24 09:52 Section: Daily DispatchesFrom Bloomberg News
Wednesday, March 23, 2022
Russia's highly regarded central bank Governor Elvira Nabiullina sought to resign after Vladimir Putin ordered an invasion of Ukraine, only to be told by the president to stay, according to four people with knowledge of the discussions.
Nabiullina was nominated for a new five-year term last week and her current views couldn't be learned. She is left to manage the fallout from a war that has quickly undone much of what’s she has accomplished in the nine years since she took office.
Pam and Russ Martens: Charts strongly suggest stock market is propped up by an invisible hand
Submitted by admin on Wed, 2022-03-23 12:53 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Wednesday, March 23, 2022
For someone who has watched trading screens for 36 years, it's pretty easy to spot a fake market.
As the charts below indicate, there is an invisible hand (or hands) pushing this stock market up when it should be plunging.
Investors piling into gold ETFs face a surprising tax bill
Submitted by admin on Wed, 2022-03-23 09:19 Section: Daily DispatchesBy Kristine Owram and Claire Ballentine
Bloomberg News
Wednesday, March 23, 2022
Gold exchange-traded funds are one of this year’s hottest investments, with war, inflation and stock-market volatility sending people scrambling for safe havens. But those buying physical gold ETFs may face an unexpected tax burden.
Funds that invest in precious metals like gold and silver are treated like collectibles for U.S. tax purposes, meaning long-term capital gains from those funds will be taxed at a top rate of 28%, compared with a maximum rate of 20% for stocks.
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