Daily Dispatches

By Andrew Hale
The Hill, Washington
Tuesday, July 4, 2023

Every country should pay its sovereign debt. Default, we are told, is not an option.

But has anyone told China?

The United States pays interest on approximately $850 billion in debt held by the People's Republic of China. China, however, is currently in default on its sovereign debt held by American bondholders.

By Jan Nieuwenhuijs
Gainsville Coins, Lutz, Florida
Monday, July 3, 2023

The U.S. dollar price of gold has been declining in the past two months, though it continues to show significant strength against the 10-year TIPS yield, to which it was tightly correlated from 2006 until 2021. Gold's performance since early 2022 must be seen as bullish.

A big change has occurred in the gold market since Russia invaded Ukraine and the West seized the euro and dollar denominated assets from Russia’s central bank. 

10:30p Friday, June 30, 2023

Dear Friend of GATA and Gold:

Gold revaluation is imminent, London metals trader Andrew Maguire tells Kinesis Money's "Live from the Vault" program with Shane Morand this week, with the U.S. Federal Reserve continuing to short the monetary metal in the paper market while central banks around the world are steadily buying physical gold to strengthen their currencies. But, Maguire adds, it is silver that is the most undervalued asset.

The program is 33 minutes long and can be viewed at YouTube here:

By Marc Jones and Mayela Armas
Reuters
Friday, June 30, 2023

LONDON -- The Venezuelan Central Bank board controlled by the government of President Nicolas Maduro on Friday lost its latest appeal over $1.95 billion of the country's gold reserves held in the Bank of England's underground vaults.

The Venezuelan central bank was challenging a previous ruling that certain decisions of Venezuela's top court should not be recognised by English courts in the gold case.