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Daily Dispatches
Robert Lambourne: Basel 3 rules may not hamper gold price suppression much
Submitted by admin on Thu, 2021-04-08 13:31 Section: Daily DispatchesBy Robert Lambourne
Thursday, April 8, 2021
This note considers the potential impact of the “Basel 3” regulatory standards of the Bank for International Settlements on the bank’s own gold banking business, which is of interest to gold investors mainly due to the regular trading the BIS does in gold swaps and other derivatives.
These gold transactions by the BIS are perhaps the most obvious sign of regular and often extensive if usually surreptitious gold trading done by central banks.
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U.S. inflation has gone K-shaped in the pandemic like everything else
Submitted by admin on Thu, 2021-04-08 11:28 Section: Daily DispatchesBy Alexandra Tanzi
Bloomberg News
Thursday, April 8, 2021
Low-income Americans bore the brunt of job losses when the pandemic arrived. Now they’re getting hit hardest by price increases as the economy recovers.
The headline consumer inflation rate in the U.S. remains subdued, at 1.7% -- but it masks large differences in what people actually buy.
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Ronan Manly: Hungary boosts gold reserves by 3,000% in 3 years
Submitted by admin on Wed, 2021-04-07 23:13 Section: Daily Dispatches11:10p ET Wednesday, April 7, 2021
Dear Friend of GATA and Gold:
Bullion Star's Ronan Manly writes tonight that the Hungarian central bank's purchase of another 83 tonnes of gold, tripling the national reserves, is a big deal, as it makes the country a major gold holder.
Manly's analysis is headlined "Hungarian Central Bank Boosts Its Gold Reserves by 3,000% in Less Than 3 Years" and it's posted at Bullion Star here:
A polite discussion of the danger of unallocated pool accounts in silver
Submitted by admin on Wed, 2021-04-07 21:30 Section: Daily Dispatches9:15p ET Wednesday, April 7, 2021
Dear Friend of GATA and Gold:
In an interview with Daniela Cambone of Stansberry Research today, fund manager Vince Lanci of EchoBay Partners in Stamford, Connecticut, politely discusses the vulnerability of the fractional-reserve silver banking system.
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German financial magazine Smart Investor cites BIS intervention in gold
Submitted by admin on Wed, 2021-04-07 11:45 Section: Daily Dispatches11:40a ET Wednesday, April 7, 2021
Dear Friend of GATA and Gold:
Word of surreptitious intervention in the gold market by governments and central banks cointinues to get around. The April edition of the German financial magazine Smart Investor publishes a report by Rainer Kromarek, "The Unexpected Decline of the Gold Price," that cites the interventions by the Bank for International Settlements. A PDF copy of the report can be viewed here:
Hungary triples gold reserves as central banks turn buyers again
Submitted by admin on Wed, 2021-04-07 11:24 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Wednesday, April 7, 2021
Hungary tripled its gold reserves in one of the biggest purchases by a central bank in decades -- the latest sign of governments turning to the precious metal as a safeguard of value.
The monetary authority raised its bullion holdings to 94.5 tons last month, it said in an emailed statement:
Craig Hemke at Sprott Money: When buying gold and silver, avoid unallocated 'pool' accounts
Submitted by admin on Tue, 2021-04-06 20:31 Section: Daily Dispatches8:28p ET Tuesday, April 6, 2021
Dear Friend of GATA and Gold:
Writing tonight at Sprott Money, the TF Metals Report's Craig Hemke notes that buying into the "pool" accounts of coin and bullion dealers defeats the primary purpose of owning monetary metals -- security, the certainty that you will have the metal when you need it and won't get stiffed by another fractional-reserve banking system and its counterparty risk.
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Jim Rickards: The next phase of the war on cash
Submitted by admin on Tue, 2021-04-06 12:24 Section: Daily DispatchesBy James Rickards
The Daily Reckoning, Baltimore
Friday, April 2, 2021
With so much news about an economic reopening, a border crisis, massive government spending, and exploding deficits, it's easy to overlook the ongoing war on cash.
That's a mistake because it has serious implications not only for your money but for your privacy and personal freedom, as you'll see today.
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Philippines plans to issue U.S. dollar bonds 'before rates skyrocket'
Submitted by admin on Mon, 2021-04-05 23:55 Section: Daily DispatchesGet the stuff out there before it all turns to dust.
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By Siegfrid Alegado and Ditas B Lopez
Bloomberg News
Tuesday, April 6, 22021
Philippines Finance Secretary Carlos Dominguez said the government plans to sell dollar bonds before interest rates rise, and will look for new revenue sources and ways to wind down debt next year.
"We will tap the U.S. bond market before rates skyrocket," Dominguez said in an interview with Bloomberg Television's Kathleen Hays on today. He didn’t provide more details on the debt plan.
Tom O'Connor: Sanctions are destroying U.S. dollar's status as top currency
Submitted by admin on Mon, 2021-04-05 20:28 Section: Daily DispatchesBy Tom O'Connor
Newsweek, New York
Monday, April 5, 2021
The United States' reliance on economic sanctions to coerce other countries is gradually losing its effectiveness and slowly degrading one of Washington's most influential tools in international affairs, the power of the U.S. dollar, experts told Newsweek.
The greenback stands in a class of its own as the most popular and robust currency across the international banking system, outsizing its next largest competitor, the euro, a by a factor of nearly three to one.
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