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Daily Dispatches

Kinesis joins Valaurum to put practical amounts of gold in circulation

Section: Daily Dispatches

Kinesis to Produce Physical Gold Bills in Partnership with Valaurum

By Sean Dickens
Kinesis, London
Thursday, July 27, 2023

Kinesis has established a global collaborative partnership with Valaurum, the manufacturer of the patented Aurum gold bill, to produce a series of Kinesis gold bills containing small, practical amounts of physical gold for investment and global spending.

Alasdair Macleod: Inflation will return

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, July 27, 2023

It is an error to expect inflation to continue to fall in America. All financial market values in the United States and elsewhere are predicated on this hope.

Banks' $118 billion capital buffer likely to be wiped out by Basel III rules

Section: Daily Dispatches

By Jennifer Surane,and Katanga Johnson
Bloomberg News
Wednesday, July 26, 2023

Wall Street's biggest banks are preparing for new regulations that could erase almost all of the $118 billion in excess capital they squirreled away over the past decade, likely crimping shareholder buybacks for years to come.

Ted Butler: More on the silver Code Red

Section: Daily Dispatches

By Ted Butler
Butler Research, Jupiter, Florida
via SilverSeek.com
Tuesday, July 25, 2023

Last week I made public an edited version of the more extensive weekly review sent to subscribers earlier. As previously stated, I believe there is an emergency in the Comex silver market based upon official data indicating a massive increase in futures positioning of more than 130 million ounces (26,000 contracts) as reported in the new commitment of traders report as of July 21.

Yuan exceeds dollar in China's bilateral trade for first time

Section: Daily Dispatches

From Nikkei Asia, Tokyo
Tuesday, July 25, 2023

The yuan was used in 49% of China's cross-border transactions last quarter, topping the dollar for the first time, a Nikkei analysis shows, mainly due to a more open capital market and more yuan-based trade with Russia.

How right-wing news powers the 'gold IRA' industry

Section: Daily Dispatches

Yes, the gold IRA business has some grifters, but not nearly as many as reside in central banking. The gold world awaits the Washington Post's first critical question directed to a central banker. A few such questions might be suggested by the documents compiled and summarized here:

https://gata.org/node/20925

* * *

By Jeremy B. Merrill and Hanna Kozlowska
The Washington Post
Tuesday, July 26, 2023

China state banks sell dollars to support yuan, sources tell Reuters

Section: Daily Dispatches

From Reuters
Tuesday, July 25, 2023

China's major state-owned banks were seen selling U.S. dollars to buy yuan in both onshore and offshore spot markets today in early Asian trade, three people with direct knowledge of the matter said, moves aimed at supporting the Chinese currency.

China's state banks usually trade on behalf of the central bank in the country's foreign exchange market, but they can also trade on their own behalf.

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China's gold consumption reaches 555 tons in first half of 2023, up 16.4%

Section: Daily Dispatches

From Global Times, Beijing
Tuesday, July 25, 2023

China consumed 554.88 tons of gold in the first half of 2023, up 16.37% year-on-year, data from the China Gold Association showed today, as Chinese citizens' income continues to rise steadily. 

The "gold rush" is partly fueled by the investors' growing risk aversion in buying equities and bonds, over concerns about volatile global financial environment, which is exacerbated by the U.S. bank financial crisis and the U.S. debt ceiling issue.

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Pam and Russ Martens: Trillions in uninsured deposits are threat to Wall Street mega-banks

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Tuesday, July 25, 2023

In June, Reuters reported that JPMorgan Chase was expanding the reach of its commercial bank into two additional foreign countries -- Israel and Singapore -- bringing its foreign commercial bank presence to a total of 28 countries. Those plans could add billions of dollars more to its already problematic uninsured deposits.

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UK government faces L150 billion bill to cover Bank of England's QE losses

Section: Daily Dispatches

By Delphine Strauss
Financial Times, London
Tuesday, July 25, 2023

https://www.ft.com/content/ee8e33ee-e16e-459b-af32-5709db6874de

The Bank of England has estimated that it will require the UK Treasury to transfer a total of L150 billion by 2033 to cover expected losses on its bond-buying quantitative easing programme, if interest rates follow the path implied by market pricing.

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