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Daily Dispatches
USAGold's 'News & Views' letter for January
Submitted by admin on Mon, 2022-01-03 11:01 Section: Daily Dispatches10:48a ET Monday, January 3, 2022
Dear Friend of GATA and Gold:
USAGold's "News & Views" letter for January contains more gold-related views than ever, including some from billionaires who haven't given up on the monetary metal. The letter is posted in the clear at USAGold's internet site here:
https://www.usagold.com/nv1037january2022/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Pam and Russ Martens: There's a news blackout on banks that got Fed's emergency repo loans
Submitted by admin on Mon, 2022-01-03 10:12 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, January 3, 2022
Four days ago the Federal Reserve released the names of the banks that had received $4.5 trillion in cumulative loans in the last quarter of 2019 under its emergency repo loan operations for a liquidity crisis that has yet to be credibly explained.
Among the largest borrowers were JPMorgan Chase, Goldman Sachs and Citigroup, three of the Wall Street banks that were at the center of the subprime and derivatives crisis in 2008 that brought down the U.S. economy.
Robert Lambourne: An extraordinary rise in U.S. debt in just the last two weeks
Submitted by admin on Sun, 2022-01-02 16:47 Section: Daily DispatchesBy Robert Lambourne
Sunday, January 2, 2022
The debt of the U.S. federal government is a factor that should affect the price of gold since the U.S. dollar is the world reserve currency. Recent developments in the level of the federal government debt are perplexing and it appears that debt levels are increasing rapidly, but presumably some of this is due to efforts to suppress reported debt levels below the official debt limit prior to its increase on December 16, 2021.
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Alasdair Macleod: The ugly side of Triffin
Submitted by admin on Fri, 2021-12-31 21:13 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Friday, December 31, 2021
Following the Lehman crisis, it became fashionable to cite the Triffin dilemma as justification for inflationary U.S. policies and why they would not undermine the U.S. dollar in the foreign exchanges.
But far from being simply a justification for continual dollar trade deficits, Triffin correctly described a situation that was bound to lead to problems for a reserve currency.
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Ted Butler: Bank of America's silver short position is even larger than he thought
Submitted by admin on Thu, 2021-12-30 22:30 Section: Daily Dispatches10:36p ET Thursday, December 30, 2021
Dear Friend of GATA and Gold:
Following up today on his commentary earlier this week on the latest gold and silver derivatives report from the U.S. Office of the Comptroller of the Currency, silver market analyst Ted Butler suggests that Bank of America may have sold short as many as 800 million ounces of silver.
Such an amount, Butler notes, probably can't be repaid in any practical sense, and if the silver price rises, the bank would lose billions of dollars.
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Central banks accelerate shift from dollar to gold
Submitted by admin on Thu, 2021-12-30 11:11 Section: Daily DispatchesBy Haruki Kitagawa
Nikkei, Tokyo
Wednesday, December 29, 2021
TOKYO -- Central banks are increasing the gold they hold in foreign exchange reserves, bringing the total to a 31-year high in 2021.
Central banks have built up their gold reserves by more than 4,500 tons over the past decade, according to the World Gold Council, the international research organization of the gold industry. As of September the reserves totaled roughly 36,000 tons, the largest since 1990 and up 15% from a decade earlier.
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Dubai can't shake off the stain of smuggled African gold
Submitted by admin on Wed, 2021-12-29 11:12 Section: Daily DispatchesBy Simon Marks, Michael Kavanagh, and Verity Ratcliffe
Bloomberg News
via Yahoo News, Sunnyvale, California
In the moon-like landscape of northern Sudan, informal gold miners toil with spades and pickaxes to extract their prize from shallow pits that pockmark the terrain.
Mining ore in the sweltering heat of the Nubian desert is the first stage of an illicit network that has exploded in the past 18 months following a pandemic-induced spike in the gold price. African governments desperate to recoup lost revenue are looking to Dubai to help stop the trade.
China is hoarding strategic commodities, many supplied by U.S.
Submitted by admin on Wed, 2021-12-29 11:06 Section: Daily DispatchesBy Frank Dong
The Epoch Times, New York
Tuesday, December 28, 2021
China seems to be on a "hoarding spree," stockpiling strategic commodities from chips, minerals, to grains and cotton. In these global purchases, the United States is one of its largest suppliers.
Barisheff and Butler detail why gold and silver should be soaring
Submitted by admin on Tue, 2021-12-28 23:04 Section: Daily DispatchesBut will mining companies ever wonder why the metals aren't soaring?
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11:04p ET Tuesday, December 28, 2021
Dear Friend of GATA and Gold:
In his new essay, "The Perfect Storm for Gold," Nick Barisheff of Canadian gold fund manager BMG Group itemizes all the reasons gold should be soaring, and, indeed, should have been soaring for many years now.
GATA exposed it all in 2021 and needs your help to keep doing it in 2022
Submitted by admin on Sat, 2021-12-25 10:01 Section: Daily Dispatches10a Saturday, December 25, 2021
Dear Friend of GATA and Gold:
For establishing the rigging of the gold market by governments and central banks, 2021 may have been GATA's best year yet.
We produced an updated comprehensive summary of the history and components of gold price control policy --
-- and our consultant Stuart Englert's book, "Rigged: Exposing the Largest Financial Fraud in History" --
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