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Daily Dispatches
Foreign Affairs: It is time to abandon dollar hegemony
Submitted by cpowell on Tue, 2020-07-28 22:35 Section: Daily DispatchesIssuing the World's Reserve Currency Comes at Too High a Price
By Simon Tilford and Hans Kundnani
Foreign Affairs, New York
Tuesday, July 28, 2020
In the 1960s, French Finance Minister Valéry Giscard d'Estaing complained that the dominance of the U.S. dollar gave the United States an "exorbitant privilege" to borrow cheaply from the rest of the world and live beyond its means.
Gold's sharp rise throws Financial Times into an erroneous sulk
Submitted by cpowell on Tue, 2020-07-28 22:01 Section: Daily Dispatches10:14p ET Tuesday, July 29, 2020
Dear Friend of GATA and Gold:
Appended is tomorrow's editorial in the Financial Times, which, taking note of gold's sharp rise in price, begins with a factual error, goes on to sulk for six paragraphs, and concludes with the hope and expectation that gold will go back in the dumpster eventually.
GATA's Ed Steer interviewed by HoweStreet.com's Jim Goddard
Submitted by cpowell on Tue, 2020-07-28 12:54 Section: Daily Dispatches12:52p ET Tuesday, July 28, 2020
Dear Friend of GATA and Gold:
Gold's rise is a 'mystery' because journalism always fails to pursue it
Submitted by cpowell on Tue, 2020-07-28 11:35 Section: Daily Dispatches11:38a ET Tuesday, July 28, 2020
Dear Friend of GATA and Gold:
Thanks to Stephen Gandel at CBS News' Moneywatch bureau for inadvertently illustrating today the greatest power of governments and central banks in the financial markets.
Gandel's commentary is headlined: "Gold Prices Hit All-Time High, and It's a Bit of a Mystery Why."
... For the remainder of the report:
Goldman warns dollar's role as world reserve currency is at risk
Submitted by cpowell on Tue, 2020-07-28 10:47 Section: Daily DispatchesBy John Ainger
Bloomberg News
Tuesday, July 28, 2020
The U.S. dollar's reign as the world's reserve currency is coming under threat, as evinced by the recent surge in gold prices, according to Goldman Sachs Group Inc.
King Report: At some point 'they' will pound gold into a buying opportunity
Submitted by cpowell on Tue, 2020-07-28 01:53 Section: Daily DispatchesFrom The King Report
Burr Ridge, Illinois
Tuesday, July 28, 2020
http://thekingreport.com/
The big story of Monday: The dollar plunged; gold, silver, and bitcoin soared while banks sank. Momentum buyers are now jiggy on gold and silver -- and there is little that the Fed can do to halt the surge.
We're beating the bad guys, so will you help?
Submitted by cpowell on Mon, 2020-07-27 23:02 Section: Daily Dispatches11p ET Monday, July 27, 2020
Dear Friend of GATA and Gold:
While the bad guys -- the government-underwritten riggers of the gold market -- are not going away quietly, they're on the run now, in large part because other governments and investors generally have come to understand the dishonest mechanisms and oppressive purposes of the Western fractional-reserve gold banking system.
U.S. Mint cuts gold and silver coin production for a year or more, blames virus
Submitted by cpowell on Mon, 2020-07-27 22:48 Section: Daily DispatchesU.S. Mint Has Reduced Silver, Gold Coin Supplies to Purchasers
By Justina Vasquez and Yvonne Yue Li
Bloomberg News
Monday, July 27, 2020
The U.S. Mint has reduced the volume of gold and silver coins it is distributing to authorized purchasers as the coronavirus pandemic slows production, a document seen by Bloomberg shows.
As surge into monetary metals continues, Turk calls it 'leading edge of the tidal wave'
Submitted by cpowell on Mon, 2020-07-27 21:11 Section: Daily Dispatches9:10p ET Monday, July 27, 2020
Dear Friend of GATA and Gold:
Second Republican senator will vote against Fed nominee Shelton
Submitted by cpowell on Mon, 2020-07-27 19:24 Section: Daily DispatchesBy Lindsay Dunsmuir
Reuters
Monday, July 27, 2020
WASHINGTON -- U.S. Sen. Susan Collins today became the second Republican to come out against the nomination of Judy Shelton, President Donald Trump's latest pick to join the powerful Federal Reserve board.
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