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Daily Dispatches
Dollar's lead as a reserve currency eroded quickly last year
Submitted by admin on Sat, 2023-04-22 20:19 Section: Daily DispatchesBy Phil Rosen
Insider, New York
Monday, April 17, 2023
The dollar's standing as a reserve currency of choice saw a steep decline in 2022 even though its strength in international trade remains unchallenged, according to Eurizon SLJ Asset Management.
In a Monday note, strategists Joana Freire and Stephen Jen calculated that the greenback accounted for about two-thirds of total global reserves in 2003, then 55% by 2021, and 47% last year.
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Western Australia government to review its ownership of gold processor Perth Mint
Submitted by admin on Sat, 2023-04-22 11:37 Section: Daily DispatchesBy Lewis Jackson
Reuters
via Nasdaq.com, New York
Thursday, April 20, 2023
SYDNEY -- Western Australia state said today it will launch a review of its ownership of The Perth Mint, the world's largest processor of newly mined gold, as the company battles allegations it sold diluted gold to China.
Australian media reported last month Perth Mint may have to recall a potential $9 billion worth of diluted or "doped" 1-kilogram gold bars sold to top consumer China.
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Central bank demand is defeating U.S. gold price suppression policy, Maguire says
Submitted by admin on Sat, 2023-04-22 10:05 Section: Daily Dispatches10:03a Saturday, April 22, 2023
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire, in his weekly discussion with Shane Morand on Kinesis Money's "Live from the Vault" program, details how U.S. gold price suppression policy is failing amid heavy demand for real metal from central banks, which is driving the price up in stair-like steps toward an official revaluation.
The program is 44 minutes long and can be viewed at YouTube here:
Russia and Bolivia dump U.S. dollar and agree on trade increases
Submitted by admin on Sat, 2023-04-22 00:07 Section: Daily DispatchesFrom Russia Briefing
Dezan Shira & Associates
Shenzhen, China
Thursday, April 20, 2023
The Russian foreign minister, Sergey Lavrov, is on a Latin American tour and has been meeting with the Brazilian president and foreign ministers.
When he caught up with his Bolivian counterpart, Rogelio Mayta, in the Venezuelan capital, Caracas, they introduced a new trade transaction system to drop the U.S. dollar and euro and to carry out international commercial transactions using the Russian ruble and the Bolivian boliviano instead.
Bolivia's lower house passes gold purchase bill to boost reserves
Submitted by admin on Fri, 2023-04-21 21:55 Section: Daily DispatchesFrom Reuters
Friday, April 21, 2023
LA PAZ, Bolivia -- Bolivia's lower house of Congress passed a bill early today to purchase gold from miners in an attempt to boost the central bank's foreign reserves as fears over a shortage of dollars rippled through the country.
In a controversial vote that carried on through the night, the bill failed to pass by majority vote, with more than a third of the house abstaining.
Ted Butler: Goofy conclusions from the Silver Institute
Submitted by admin on Fri, 2023-04-21 20:05 Section: Daily DispatchesBy Ted Butler
SiverSeek.com
Friday, April 21, 2023
Hot off the press is this week's just-released world annual silver survey from the Silver Institute. As previewed a couple of months back, the institute is reporting flat total supply (mining plus recycling) and sharply increased demand growth of 18% or 186 million ounces, resulting in the highest silver deficit in modern times of 237 million ounces.
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Mississippi becomes 43rd state to end taxes on monetary metals
Submitted by admin on Thu, 2023-04-20 20:13 Section: Daily DispatchesFrom Money Metals News Service, Eagle, Idaho
Thursday, April20, 2023
With the stroke of Gov. Tate Reeves's pen on Wednesday, Mississippi has become the 43rd state in the country to end sales taxes on the purchase of physical gold, silver, platinum, and palladium coins and bullion.
Senate Bill 2862, sponsored by Sen. Juan Barnett (D-34), had passed out of the full Denate by a vote of 52-0 and sailed through the House of Representatives by a vote of 115-0. The effective date is July 1, 2023.
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Police probe theft of $20 million in gold and goods at Toronto airport
Submitted by admin on Thu, 2023-04-20 19:58 Section: Daily DispatchesFrom the Canadian Press
via National Post, Toronto
Thursday, April 21, 2023
MISSISSAUGA, Ontario — More than $20 million worth of gold and other high-value items have been stolen from Toronto Pearson Airport, Peel Regional Police said today.
Duty Insp. Stephen Duivesteyn told media police are investigating the theft that took place early Monday evening after a plane that arrived at the airport was unloaded and its cargo transported to a holding facility.
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Australia to overhaul central bank after stumble on inflation and pandemic
Submitted by admin on Thu, 2023-04-20 11:59 Section: Daily DispatchesBy Nic Fildes
Financial Times, London
Thursday, April 20, 2023
Australia's treasurer has announced the biggest shake-up of the country's central bank in its 63-year history, proposing the establishment of a new interest rate-setting board and an overhaul of its culture.
The reforms were unveiled after a review of the Reserve Bank of Australia, the first in four decades, was launched last year following sharp criticism of its handling of interest rate guidance and slow response to rising inflation.
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Alasdair Macleod: How quickly will the U.S. dollar collapse?
Submitted by admin on Thu, 2023-04-20 10:14 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, April 20, 2023
This article looks at the factors behind the growing rejection of the dollar for trade settlement purposes by non-aligned nations. They no longer fear political or economic reprisals from America.
The dollar's monopoly was notably challenged by Saudi Arabia, which removed itself from the U.S. sphere of influence to that of China and Russia. Consequently, peace has broken out throughout the Arab lands.
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