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Daily Dispatches
Bill to create U.S. bitcoin reserve would finance it with gold revaluation
Submitted by admin on Wed, 2024-07-31 09:12 Section: Daily DispatchesU.S. Strategic Bitcoin Reserve to Be Funded Partly by Revaluing Fed's Gold, Draft Bill Shows
By Bradley Keoun
CoinDesk, New York
Tuesday, July 30, 2024
U.S. Senator Cynthia Lummis' plan for a new Strategic Bitcoin Reserve would finance purchases of the cryptocurrency partly by revaluing gold certificates held by the Federal Reserve System, according to a draft of the legislation obtained by CoinDesk.
Looks like Argentina has leased or pawned its gold in London
Submitted by admin on Tue, 2024-07-30 10:50 Section: Daily DispatchesThe Mystery of Argentina's Gold: Milei Admits That It Was Transferred Abroad, Without Specifying the Quantities or Destination
By Havier Lorca
El Pais, Madrid
Sunday, July 28, 2024
Argentina's reserves, held by its central bank, include almost 2 million troy ounces of gold, valued at about $4.5 billion. But lately there's a question that's on everybody's lips: Where is it?
Was it taken out of the country? Did some of it remain within Argentina, while the rest was transferred abroad?
Well, the official information only offers partial answers.
Brien Lundin: The metals bull market has begun and NOLA conference can be your guide to it
Submitted by admin on Mon, 2024-07-29 14:44 Section: Daily Dispatches2:47p ET Monday, July 29, 2024
Dear Friend of GATA and Gold:
Gold Newsletter editor and publisher Brien Lundin writes today that a gold, metals, and mining bull market like the one of the 1970s has begun.
"Massive buying from unexpected sources (central banks and China) has propelled gold to record heights this year," Lundin says. "This powerful new gold bull market has come as the factor everyone was expecting to drive the gold price higher -- a Fed pivot to the rate-cutting side of the cycle -- has been postponed.
... Dispatch continues below ...
Jan Nieuwenhuijs: China's gold conduit revealed, shows central bank did not stop buying in May
Submitted by admin on Mon, 2024-07-29 14:19 Section: Daily Dispatches2:17p ET Monday, July 29, 2024
Dear Friend of GATA and Gold:
People who still believe official central bank data about gold reserves may do well to read today's analysis from gold researcher Jan Nieuwenhuijs, who examines customs export data from the United Kingdom, where the major physical gold market is located, and discovers that plenty of gold was shipped to China in May even as the People's Bank of China was saying it had paused its gold purchases.
... Dispatch continues below ...
Pam and Russ Martens: NY Fed has contracted out key functions to JPMorgan Chase
Submitted by admin on Mon, 2024-07-29 12:45 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, July 29, 2024
David Morgan, Stefan Gleason discuss the future of sound money
Submitted by admin on Mon, 2024-07-29 11:29 Section: Daily Dispatches11:30a ET Monday, July 29, 2024
Dear Friend of GATA and Gold:
Mike Maharrey: Support sound money by reviving gold clause contracts
Submitted by admin on Sun, 2024-07-28 11:47 Section: Daily DispatchesBy Mike Maharrey
Money Metals Exchange, Eagle, Idaho
Friday, July 26, 2024
One of the ways the government maintains its fiat money system is by throwing up legal and regulatory roadblocks to those wanting to use real money such as gold and silver. Reviving the use of gold clause contracts removes one of those barriers.
Six banks settle European bond price-fixing litigation in New York
Submitted by admin on Sat, 2024-07-27 18:20 Section: Daily DispatchesBy Jonathan Stempel
Reuters
Friday, July 26, 2024
NEW YORK -- Six banks including Bank of America and Citigroup agreed to pay $80 million to settle antitrust litigation in New York accusing them of conspiring to rig prices of European government bonds.
A preliminary settlement with Bank of America, Citigroup, Jefferies, NatWest, Normura, and UBS was filed late Friday in Manhattan federal court and requires a judge's approval.
... Dispatch continues below ...
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Canadian gold mine cyanide spill raises fears among Alaskans on the Yukon River
Submitted by admin on Sat, 2024-07-27 13:31 Section: Daily DispatchesBy Max Graham
Alaska Beacon, Washington, D.C.
Friday, July 26, 2024
A cyanide spill at a major gold mine in the Yukon Territory -- high in the Yukon River watershed -- has sparked widespread concern in Canada.
But Alaska salmon advocates say the mishap isn't just a problem for Yukoners: The spill happened upstream of a tributary of the Yukon River. The Yukon is Alaska's biggest transboundary waterway, and residents along its shores who have depended on salmon for generations are already suffering amid crashes of multiple species.
On LFTV Maguire uses Comex price charts to show Fed's interventions at options expiration
Submitted by admin on Sat, 2024-07-27 12:04 Section: Daily Dispatches12:03p ET Saturday, July 27, 2024
Dear Friend of GATA and Gold:
In this week's edition of Kinesis Money's "Live from the Vault" program, London metals trader Andrew Maguire shows with Comex price charts how the Federal Reserve has been intervening to knock the gold price down in advance of futures option expiration dates.
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