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Daily Dispatches
Pam and Russ Martens: Mega-banks are tanking, the same ones Fed rescued in 2019
Submitted by admin on Wed, 2022-04-27 12:03 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Wednesday, April 27, 2022
As long-term readers of Wall Street On Parade know well, we have regularly warned that the failure of Congress to meaningfully reform Wall Street by restoring the Glass-Steagall Act poses a security threat to our nation in times of crisis.
Craig Hemke at Sprott Money: Where are stocks and gold going?
Submitted by admin on Tue, 2022-04-26 21:38 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Tuesday, April 26, 2022
Two weeks ago we wrote a post that warned against a pending drop in the stock market. Two weeks later, it's probably a good idea to update that theme.
The post from two weeks ago mainly focused upon remarks from Fed goons Dudley and Bullard, and it followed a sort of "don't fight the Fed" narrative. To wit, if the Fed is intent upon "inflicting more losses upon stock market investors," you might want to take that into your investment considerations. Here's the link:
Swiss gold exports to U.S. rocketed in March
Submitted by admin on Tue, 2022-04-26 11:15 Section: Daily DispatchesFrom Reuters
Tuesday, April 26, 2022
LONDON -- Swiss shipments of gold to the United States surged in March to their highest since May 2020, Swiss customs data showed, as investors spooked by Russia's invasion of Ukraine and the threat of a global economic slowdown stocked up on bullion.
Switzerland's exports to Britain, which like the United States is a centre for gold investment and trading, also rose, while shipments of gold to China and India, the biggest consumer markets, fell sharply.
Toronto-based Kinross Gold to exit Ghana mine in US$225-million deal
Submitted by admin on Mon, 2022-04-25 21:13 Section: Daily DispatchesBy Niall McGee
The Globe and Mail, Toronto
Monday, April 25, 2022
Kinross Gold Corp. plans to sell its Ghana gold mine, as it continues on its quest to unload problem assets and reinvent itself as a less risky investment among the giants of the global gold sector.
Kinross, Canada’s second-biggest gold miner by production, said on Monday that it plans to sell its 90-per-cent stake in the Chirano mine for US$225-million to Asante Gold Corp., a Vancouver-based junior development company.
Russian rouble nears 2-year high vs. euro
Submitted by admin on Mon, 2022-04-25 12:37 Section: Daily DispatchesFrom Reuters
Monday, April 25, 2022
The Russian rouble strengthened on Monday, firming past 77 against the euro to a near two-year high, helped by tax payments that companies are due to make this week and as the market looked ahead to a central bank rate decision on Friday.
By 1453 GMT, the rouble had gained 3.6% to trade at 77.25 versus the euro , earlier clipping 76.96, its strongest mark since June 2020.
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Pam and Russ Martens: Fed telegraphs disaster for mega-banks: rapid rate hikes hitting trillions in derivatives
Submitted by admin on Mon, 2022-04-25 11:23 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, April 25, 2022
The Federal Reserve is the central bank of the United States. It sets monetary policy, including control of the benchmark short-term interest rate known as the Federal Funds rate, or in Wall Street jargon, the "Fed Funds" rate.
This is a key rate because it signals the rate at which overnight loans are made between financial institutions and the direction of interest rates in general.
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Lisa Abramowicz: The Fed is losing control over the inflation narrative
Submitted by admin on Sun, 2022-04-24 11:49 Section: Daily DispatchesBy Lisa Abramowicz
Bloomberg News
via The Washington Post
Sunday, April 24, 2022
The Federal Reserve is poised to raise interest rates at the fastest pace in 40 years after policy makers' hawkish rhetoric turned more aggressive last week. The problem, though, is that bond traders keep boosting their longer-term inflation expectations in a very concerning development for the central bank, the economy and financial markets.
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Payment in gold earns big discount on Russian oil in London trading, Maguire says
Submitted by admin on Sat, 2022-04-23 21:20 Section: Daily Dispatches9:23p ET Saturday, April 23, 2022
Dear Friend of GATA and Gold:
In this week's "Live from the Vault" program from Kinesis Money, London metals trader Andrew Maguire tells host Shane Morand that, through intermediaries -- presumably Chinese -- Russian oil is available at a big discount via trading in London when purchased with gold. This arbitrage is increasing demand for real metal in London, Maguire says, and he expects it to put great strain on the "paper" gold trade there.
The program is 36 minutes long and can be seen at YouTube here:
EU admits rouble payments for Russia's gas might not breach sanctions
Submitted by admin on Fri, 2022-04-22 20:55 Section: Daily DispatchesBy James Warrington and Giulia Bottaro
The Telegraph, London
Friday, April 22, 2022
The European Union admitted that countries may be able to comply with Russian President Vladimir Putin's demand for gas payments in roubles without breaching sanctions against Russia.
London Metal Exchange abandons attempt to crack gold market
Submitted by admin on Fri, 2022-04-22 13:26 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Friday, April 22, 2022
The London Metal Exchange will abandon its attempt to break into precious-metal trading after just five years, citing low trading volumes in its gold and silver contracts.
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