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Daily Dispatches
Craig Hemke at Sprott Money: After the Fed
Submitted by admin on Wed, 2021-12-15 22:18 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Wednesday, December 15, 2021
As I type this on Wednesday morning, there's really no sense in discussing other news or datapoints today, as everything is meaningless ahead of the Federal Open Market Committee -- which should stop you in your tracks when you consider how Fed-dependent EVERYTHING has become.
The news doesn't matter anymore. All that matters is the anticipated Fed reaction to said news. Could "the markets" be any more broken?
So what is expected today? Anything and nothing. How about these scenarios? ...
'Imagine' free markets in the monetary metals
Submitted by admin on Tue, 2021-12-14 11:35 Section: Daily Dispatches11:30a ET Tuesday, December 14, 2021
Dear Friend of GATA and Gold:
GATA board member Ed Steer's newsletter (https://edsteergoldsilver.com/) today calls attention to a clever adaptation of John Lennon's "Imagine" by subscriber Ray Cordes, wistfully contemplating, as Lennon did, what may never be -- in this case, free markets in the monetary metals.
Ronan Manly: Coordinated jawboning from central banks, but 'you can't taper a Ponzi'
Submitted by admin on Mon, 2021-12-13 20:54 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Monday, December 13, 2021
For the world's financial markets, which have become literally dependent on the pronouncements of central banks, this week is lining up to be one of the most important in a while.
Because this week no fewer than four of the most powerful central banks are meeting to discuss quantitative easing (QE) and interest rate decisions, after which they will "inform" financial markets as to what extent the markets will be kept on life-support stimulus.
... Dispatch continues below ...
Bloomberg purports to be unable to understand what used to be called 'financial repression'
Submitted by admin on Mon, 2021-12-13 11:33 Section: Daily DispatchesBond Traders Stare at Worst Real Returns Since Volcker Era
By Ye Xie and Liz McCormick
Bloomberg News
Monday, December 13, 2021
Treasury investors are losing more money than they have in four decades, once inflation is taken into account. And if markets are right, they're unlikely to come out ahead for years.
Robert Lambourne: BIS gold swaps increased slightly in November
Submitted by admin on Sun, 2021-12-12 22:32 Section: Daily DispatchesBy Robert Lambourne
Sunday, December 12, 2021
The recently released November statement of account of the Bank for International Settlements —
https://www.bis.org/banking/balsheet/statofacc211130.pdf
— contains information suggesting an increase of about 37 tonnes in the bank's gold swaps, from 414 tonnes in October to 451 tonnes in November.
This compares to the record high estimated at 552 tonnes as of February 25 this year.
IMF, 10 countries simulate cyberattack on world financial system
Submitted by admin on Fri, 2021-12-10 23:29 Section: Daily DispatchesBy Steven Scheer
Reuters
Thursday, December 8, 2021
JERUSALEM -- Israel today led a 10-country simulation of a major cyberattack on the global financial system in an attempt to increase cooperation that could help to minimise any potential damage to financial markets and banks.
The simulated "war game," as Israel's Finance Ministry called it and planned over the past year, evolved over 10 days, with sensitive data emerging on the Dark Web. The simulation also used fake news reports that in the scenario caused chaos in global markets and a run on banks.
Taking delivery of Comex silver becomes a comic odyssey
Submitted by admin on Fri, 2021-12-10 22:24 Section: Daily Dispatches10:22p ET Friday, December 10, 2021
Dear Friend of GATA and Gold:
Rob Kientz of GoldSilverPros has produced a short documentary on the extreme and comic difficulty encountered by one investor undertaking an experiment of taking delivery of a single silver futures contract from the New York Commodities Exchange.
The difficulty seems to arise more from the broker being used than from the exchange itself. But the broker seems to have been advertising its ability to deliver real metal for silver contract buyers when the broker actually had never done it before.
Eric Sprott reflects on a difficult year for monetary metals; Maguire sees 'Basel 3' kicking in
Submitted by admin on Fri, 2021-12-10 21:28 Section: Daily Dispatches9:30p ET Friday, December 10, 2021
Dear Friend of GATA and Gold:
Mining entrepreneur Eric Sprott this week spent 45 minutes with Craig Hemke for Sprott Money News, discussing the counterintuitive performance of the gold and silver markets this year amid the determination of the banking industry to keep monetary metals prices down.
Biden team seeks to downplay Friday's inflation data ahead of release
Submitted by admin on Thu, 2021-12-09 19:52 Section: Daily DispatchesBy Justin Sink and Josh Wingrove
Bloomberg News
Thursday, December 9, 2021
White House economic adviser Brian Deese said today November's inflation report won't account for recent declines in the cost of energy and commodities, an effort by the Biden administration to downplay data that is sure to show a surge in consumer prices.
Deese said that the Consumer Price Index report to be released Friday is "backward looking" and won't capture "recent price movements" in gasoline and natural gas prices, as well as declines in shipping costs and commodities.
Kinross shares plunge on Great Bear bid, so now Barrick may bid for Kinross
Submitted by admin on Thu, 2021-12-09 19:25 Section: Daily DispatchesKinross on Defensive after $1.8-Billion Bid for Red Lake Gold Development Company Great Bear
By Niall McGee
The Globe and Mail, Toronto
Thursday, December 9, 2021
Kinross Gold Corp.'s planned acquisition of Great Bear Resources Ltd. has landed with a thud, over widespread concern from investors that it may be overpaying for a development company with no gold reserves, and could even be opening itself up to a hostile takeover.
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