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Daily Dispatches
As the rich snap up gold bars, storage vaults brace for business
Submitted by admin on Wed, 2024-08-21 12:12 Section: Daily DispatchesBy Sybilla Gross and Yvonne Yue Li
Bloomberg News
Tuesday, August 20, 2024
Encased in sleek onyx, an enormous vault for storing precious metal soars some 32 meters (105 feet) above Singapore's Changi Airport. For a facility that deals in secrecy and privacy, its sheer mass makes a loud statement about the sudden popularity of owning physical bullion.
James Turk: Is gold overvalued?
Submitted by admin on Tue, 2024-08-20 21:27 Section: Daily DispatchesBy James Turk
Free Gold Money Report
Tuesday, August 20, 2024
Gold may seem overvalued because of the recent record highs in its 6-decade ascent from $35 to $2500, but prices -- like appearances -- can be deceiving. What’s more, the value of any asset is more important than its price.
California-based Oxford Gold disappears with assets of hundreds of investors
Submitted by admin on Mon, 2024-08-19 18:49 Section: Daily DispatchesBy Jeff McDonald
San Diego Union-Tribune
Monday, August 19, 2024
With a fickle stock market and broader economic uncertainty around the globe, Howard and Heather Short were looking for a safe harbor for their savings and financial stability.
The San Diego couple settled on gold.
After months of hearing advertisements promoting the Oxford Gold Group on a local talk radio station, the Shorts began transferring chunks of their retirement portfolio to the Beverly Hills company.
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Gold bars are worth a million dollars for the first time
Submitted by admin on Mon, 2024-08-19 15:19 Section: Daily DispatchesBut what are a million dollars worth?
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By Jack Wittels
Bloomberg News
via Yahoo News, Sunnyvale, California
Monday, August 18, 2024
For the first time ever, a bar of gold is worth a cool one million dollars.
The milestone was reached Friday, when the precious metal’s spot price surpassed $2,500 per troy ounce, an all-time high. With gold bars typically weighing about 400 ounces, that would make each one worth more than $1 million. ...
... For the remainder of the report:
Taiwan's central bank says gold reserve supports country's currency
Submitted by admin on Sun, 2024-08-18 09:50 Section: Daily DispatchesFrom the Central News Agency, Taipei
Friday, August 16, 2024
TAIPEI -- Taiwan has about 422 tonnes of gold in reserve, held by the Central Bank of the Republic of China (Taiwan) to support the value of the national currency, a central bank official said today.
Of that amount, 410 tonnes is retained as an asset for the issuance of New Taiwan Dollars, the official added.
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Miles Franklin's Andrew Schectman, on LFTV, reviews how the BIS is shifting the world back to gold
Submitted by admin on Fri, 2024-08-16 21:44 Section: Daily Dispatches9:42p ET Friday, August 16, 2024
Dear Friend of GATA and Gold:
Bullion dealer Andrew Schectman of Miles Franklin in Minnesota, the guest on this week's installment of Kinesis Money's "Live from the Vault" program with London metals trader Andrew Maguire, discusses the Bank for International Settlements' orchestration of a shift away from the U.S. dollar to gold as the primary world reserve currency.
The discussion is 67 minutes long and can be watched at YouTube here:
China issues new gold import quotas after pause, sources tell Reuters
Submitted by admin on Fri, 2024-08-16 15:42 Section: Daily DispatchesBy Ashitha Shivaprasad and Polina Devitt
Reuters
via Yahoo News, Sunnyvale, California
Friday, August 16, 2024
Several Chinese banks have been given new gold import quotas from the central bank, anticipating revived demand despite record high prices, four sources with knowledge of the matter told Reuters.
The new quotas, aimed at helping the People's Bank of China control how much bullion enters the world's leading consumer of the precious metal, were granted in August after a two-month pause largely due to slower physical demand in the wake of a bullish market.
Peter St. Onge: How gold can save the dollar
Submitted by admin on Thu, 2024-08-15 19:56 Section: Daily DispatchesBy Peter St. Onge
via Money Metals Exchange, Eagle, Idaho
Can we save the dollar before central banking kills it?
Our deficits are now stuck at 8% of gross domestic product -- unprecedented in peacetime. And our national debt just hit $35 trillion -- unprecedented in the history of man.
Even the central bankers realize that this isn't sustainable. That we are coming to the day our paper money utopia crumbles.
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Jan Nieuwenhuijs: Argentina's gold reserves arrive in London
Submitted by admin on Thu, 2024-08-15 19:47 Section: Daily DispatchesBy Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Thursday, August 15, 2024
In June the United Kingdom received a gold shipment worth $150 million dollars from Argentina. Most likely the gold was sent by the central bank of Argentina to be used as collateral in the London Bullion Market.
Pam and Russ Martens: New study says Fed is captured by Congress and presidency, not megabanks
Submitted by admin on Thu, 2024-08-15 11:20 Section: Daily DispatchesBut what if the megabanks have captured Congress and the presidency as well?
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By Pam and Russ Martens
Wall Street on Parade
Thursday, August 15, 2024
A fascinating new academic paper has been released. Its title is "The Myth of Fed Political Independence." Its premise is this: "The much-vaunted independence of the Federal Reserve is a myth. The Fed is not the bastion of sound monetary policy. Rather, it is just another politically co-opted agency of the federal government."
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