Daily Dispatches

1p ICT Sunday, May 7, 2023

Dear Friend of GATA and Gold (and Silver):

In his weekly appearance on Kinesis Money's "Live from the Vault" program with Shane Morand, London metals trader Andrew Maguire predicts that dips in gold and silver futures prices will be shallow because speculators have mostly been driven out of the market and physical demand is strong.

Official intervention in the monetary metals markets is becoming more difficult, Maguire says.

The interview is 37 minutes long and can be viewed at YouTube here:

But both nations seem to have a lot of a stronger currency, a shiny yellow metal. ...

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By Aftab Ahmed and Swati Bhat
Reuters
Thursday, May 4, 2023

India and Russia have suspended efforts to settle bilateral trade in rupees, after months of negotiations failed to convince Moscow to keep rupees in its coffers, two Indian government officials and a source with direct knowledge of the matter said.

By Ambrose Evans-Pritchard
The Telegraph, London
Tuesday, May 2, 2023

The twin crashes in U.S. commercial real estate and the U.S. bond market have collided with $9 trillion uninsured deposits in the American banking system. In the cyber age such deposits can vanish in an afternoon.

The second and third biggest bank failures in U.S. history have followed in quick succession. The U.S. Treasury and Federal Reserve would like us to believe that they are "idiosyncratic." That is a dangerous evasion.

... Dispatch continues below ...

Biden Can Steamroll Republicans on the Debt Ceiling

By Nathan Tankus
Politico, Washington
Wednesday, April 19, 2023

The threat of a real debt ceiling crisis is growing rapidly. House Republicans are still pushing steep spending cuts that the White House won't countenance, even as the Republicans remain deeply divided on a strategy. And we're now as little as eight weeks away from the "X date" when the Treasury Department no longer has legal authorization to issue new securities and fill up its checking account.