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Daily Dispatches
China's net gold imports via Hong Kong slump nearly 59% in May
Submitted by admin on Mon, 2021-06-28 19:25 Section: Daily DispatchesBy Eileen Soreng
Reuters
Monday, June 28, 2021
China's net gold imports via Hong Kong more than halved in May from the previous month, when they touched the highest level in nearly three years, as demand for the precious metal faltered amid fresh coronavirus-led restrictions.
By product value, bitcoin produces 15 times the carbon emissions of gold mining
Submitted by admin on Mon, 2021-06-28 19:17 Section: Daily DispatchesFrom Prospector Portal, Fort Lauderdale, Florida
via Visual Capitalist, Vancouver, British Columbia, Canada
Monday, June 28, 2021
bitcoin mining is nearly 15X more carbon intensive than mining an equivalent amount of gold (in dollar terms). The carbon footprint of a single mined bitcoin (including fees) amounts to 191 tonnes of carbon dioxide while to mine the equivalent value in gold, it would only take 13 tonnes of carbon dioxide.
... For the remainder of the report:
Something may be up at IMF: Chinese central banker to become deputy director
Submitted by admin on Mon, 2021-06-28 18:51 Section: Daily DispatchesIMF Managing Director Kristalina Georgieva Proposes Appointment of Mr. Bo Li as Deputy Managing Director
Frpm the International Monetary Fund
Washington, D.C.
Sunday, June 28, 2021
WASHINGTON -- Kristalina Georgieva, managing director of the International Monetary Fund, announced today to the Executive Board of the IMF her proposal to appoint Mr. Bo Li as deputy managing Director, effective August 23, 2021. Mr. Li is currently deputy governor of the People's Bank of China. He will succeed Mr. Tao Zhang, who, as previously announced, steps down on August 22.
Indonesia and China to reduce U.S. dollar in bilateral trade
Submitted by admin on Mon, 2021-06-28 11:23 Section: Daily DispatchesBy Vincent Fabian Thomas
The Jakarta Post
Monday, June 28, 2021
Indonesia and China are closer to reducing their reliance on the U.S. dollar as they plan to start using their own currencies for bilateral trade and investment within weeks.
The switch to local currency settlement (LCS) is expected to take place in the third quarter of this year. Bank Indonesia's head of financial market development, Donny Hutabarat, said the move was part of Indonesia's effort to diversify currencies used in trade and investment with bilateral partners.
Ronan Manly: Thai central bank buys 90 tonnes of gold in April and May
Submitted by admin on Sun, 2021-06-27 22:10 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Sunday, June 27, 2021
In early April this year the Hungarian central bank stunned gold markets with the surprise announcement that it had purchased a massive 63 tonnes of gold during March, and in doing so tripled its gold reserves from 31.5 tonnes to 94.5 tonnes.
At the time, this 63.5 tonnes purchase (the details of which we covered) was the largest year-to-date gold purchase by a central bank during 2021.
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Bitcoin exchange Binance banned from UK as crypto frauds double
Submitted by admin on Sun, 2021-06-27 11:19 Section: Daily DispatchesGovernment keeps protecting people against ... government's own competitors.
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By Will Kirkman and Matthew Field
The Telegraph, London
Sunday, June 27, 2021
The City watchdog has banned one of the world's largest Bitcoin exchanges from operating in Britain amid mounting fears over the rise of cryptocurrency crime.
The Financial Conduct Authority ordered Binance Markets Ltd. to remove all advertising and financial promotions by Wednesday and told the firm it must not carry out any regulated activities in Britain without prior consent.
At King World News, GATA secretary discusses Basel 3's possible impact on gold
Submitted by admin on Sat, 2021-06-26 10:42 Section: Daily Dispatches10:42a ET Saturday, June 26, 2021
Dear Friend of GATA and Gold:
Implementation of the "Basel 3" regulations on "unallocated" gold was the subject yesterday as King World News interviewed your secretary/treasurer, who expressed optimism that the regulations eventually might vaporize a lot of the imaginary metal that long has been suppressing prices.
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GoldMoney's Roy Sebag: Gold's greatest virtue
Submitted by admin on Fri, 2021-06-25 23:29 Section: Daily Dispatches11:27p ET Friday, June 25, 2021
Dear Friend of GATA and Gold:
Turning philosophical in his company's annual shareholder letter, GoldMoney CEO Roy Sebag argues that gold's greatest virtue is "is in helping the common man ascertain the truth when he is asked to buy into new economic and political ideologies by those within or outside of the power structure."
... Dispatch continues below ...
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If Basel 3 is enforced, it will support gold, 'Rigged' author Englert says
Submitted by admin on Fri, 2021-06-25 23:03 Section: Daily Dispatches11p Friday, June 26, 2021
Dear Friend of GATA and Gold:
Stuart Englert, author of "Rigged," a history of gold market manipulation by central banks, was interviewed this week about the new "Basel 3" banking regulations by Investing News Network's Charlotte McLeod, concluding that if they are implemented and enforced, the regulations are likely to support gold prices. The interview is 20 minutes long and can be viewed at YouTube here:
Alasdair Macleod: Inflation and asset and consumer prices
Submitted by admin on Fri, 2021-06-25 22:52 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Wednesday, June 24, 2021
"The Fed finds itself between a rock and a hard place: either it keeps inflating or the whole confidence-based valuation of financial assets collapses. Either it raises interest rates or the dollar collapses."
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