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Daily Dispatches

Pam and Russ Martens: For whom is New York Fed seeking 'investment opportunities'?

Section: Daily Dispatches

Is the New York Fed Working for the American People or the Wall Street Banks that Own It?

By Pam and Russ Martens
Wall Street on Parade
Tuesday, February 1, 2022

Adding to a very long laundry list of questions about exactly whom the New York Fed serves is the help-wanted ad that was posted four days ago. 

The ad is for a "financial planning and analysis expert" to work at the New York Fed's headquarters in lower Manhattan. One part of the job description is this: "modelling of potential investment opportunities."

Monetary metals are most undervalued assets, GATA chairman tells GoldSeek Radio

Section: Daily Dispatches

7:58p ET Monday, January 31, 2022

Dear Friend of GATA and Gold:

Fundamentals for the monetary metals couldn't be better but the metals keep getting pounded down in the futures markets, GATA Chairman Bill Murphy tells GoldSeek Radio's Chris Waltzek. Even so, Murphy adds, this makes the metals the cheapest assets in the world and excellent values for investment.

The interview is 11 minutes long and can be heard at GoldSeek here:

Gold Reporter: 21 tonnes of gold removed from New York Fed vault

Section: Daily Dispatches

From Gold Reporter, Germany
Monday, January 31, 2022

At the end of 2021, 21 metric tons of gold were withdrawn from custody at the Federal Reserve Bank of New York. It is as yet unclear who collected the gold. ...

... For the remainder of the report:

https://www.goldreporter.de/who-pulled-21-tons-of-gold-out-of-new-york/english/105722/


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Pam and Russ Martens: NY Fed has second trading floor at Chicago futures markets

Section: Daily Dispatches

No wonder the U.S. Commodity Futures Trading Commission declines to answer, even for a member of Congress, whether the commission has jurisdiction over manipulative futures trading by or on behalf of the government or whether such manipulative trading is authorized by the Gold Reserve Act of 1934, as amended:

https://www.gata.org/node/19917

The gold rush returns to California

Section: Daily Dispatches

By Becki Robins
Undark Magazine, Cambridge, Massachusetts
Monday, January 24, 2022

On the outskirts of the northern California town of Grass Valley, a massive concrete silo looms over the weeds and crumbling pavement. Nearby, unseen, a mine shaft drops 3,400 feet into the earth. 

Alasdair Macleod: Why central bank digital currencies may never happen

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, January 27, 2022

The Federal Reserve has just released its first public consultation paper on a dollar-based central bank digital currency. For many, central bank digital currencies (CBDCs) are a means of heading off private-sector cryptos, but coincidentally the prices of bitcoin and others have collapsed, losing half their value since early November.

China's 2021 gold consumption jumps by a third in year as economy grows

Section: Daily Dispatches

By Emily Chow
Reuters
Thursday, January 27, 2022

BEIJING -- China's 2021 gold consumption rose by over a third from the previous year, as its economy rebounded from the coronavirus impact, the China Gold Association said today.

Consumption in the world's largest gold consumer rose 36.53% year-on-year to 1,120.9 tonnes. It was also up 11.78% compared with consumption in 2019, before the pandemic.

... Dispatch continues below ...


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Pam and Russ Martens: Wall Street megabanks have shifted their derivative exposure to corporations

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Thursday, January 27, 2022

The last thing a volatile stock market needs right now is more surprises from the dark corners of Wall Street. Unfortunately, we can guarantee you that more surprises are coming in the way of uncleared derivatives blowing up on the balance sheets of publicly-traded corporations.

How do we know this? 

... Dispatch continues below ...


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Craig Hemke: The strange correlation of Comex silver and GDX

Section: Daily Dispatches

By Craig Hemke
Sprott Money, Toronto
Tuesday, January 25, 2022

As we all await the latest Federal Open Market Committee mutterings on Wednesday, I thought it might be fun to write this week about something you may not have noticed. And what's that? 

It's the curious yet almost 100% long-term correlation between the price of Comex silver and the price of the popular gold mining share exchange-traded fund with the symbol GDX.

Pam and Russ Martens: Federal agency hides bank identities in study of dangerous derivatives 

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Tuesday, January 25, 2022

The Office of Financial Research is the federal agency created under the Dodd-Frank financial reform legislation of 2010. Its role is to provide early warnings to U.S. bank regulators and the public of systemic risks that threaten U.S. financial stability, so that another 2008-style Wall Street crisis can never again devastate the U.S. economy.

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