You are here
Daily Dispatches
China and Brazil agree to ditch dollar for bilateral trade
Submitted by admin on Wed, 2023-03-29 22:02 Section: Daily DispatchesFrom Agence France-Presse
via Barron's, New York
Wednesday, March 29, 2023
https://www.barrons.com/news/china-brazil-strike-deal-to-ditch-dollar-for-trade-8ed4e799
China and Brazil have reached a deal to trade in their own currencies, ditching the U.S. dollar as an intermediary, the Brazilian government said today, Beijing's latest salvo against the almighty greenback.
Bank of England calls for urgent action on funds that nearly toppled UK financial system
Submitted by admin on Wed, 2023-03-29 12:56 Section: Daily DispatchesBy Julia Horowitz
CNN, New York
Wednesday, March 29, 2023
LONDON -- The Bank of England has called for urgent action to address a weak spot in the UK financial system as persistent worries about the global banking sector threaten to unleash fresh market turmoil.
The central bank said today that UK banks had enough financial resources to avoid shocks but the pensions regulator needed to move "as soon as possible" to increase the resilience of liability-driven investment funds.
... Dispatch continues below ...
Saudi Arabia set to join anti-West bloc with China and Russia
Submitted by admin on Wed, 2023-03-29 11:25 Section: Daily DispatchesBy Campbell MacDiarmid
The Telegraph, London
Wednesday, March 29, 2023
Saudi Arabia is joining an anti-Western influence bloc formed by Russia and China, in a sign of Riyadh's deepening ties with Beijing as the U.S. pivots away from the Middle East.
The kingdom's cabinet approved a plan to join the Shanghai Cooperation Organisation as a "dialogue partner," a precursor to being granted full membership, state news agency SPA announced today.
... Dispatch continues below ...
SVB's collapse shows the world's favorite safe asset isn't risk-free
Submitted by admin on Wed, 2023-03-29 11:10 Section: Daily DispatchesBy Liz McCormick, Ben Holland and Edward Harrison
Bloomberg News
Wednesday, March 29, 2023
Look deeper into the latest U.S. banking crisis and the cause may come as a surprise to anyone still thinking in terms of the crash of 2008.
It wasn't dodgy loans to impecunious homebuyers that sank Silicon Valley Bank. It was a stash of what are thought to be the safest securities on Earth: U.S. Treasuries.
... Dispatch continues below ...
... ADVERTISEMENT ...
Pam and Russ Martens: Stampede into govt. money-market funds foils Fed's effort to raise rates
Submitted by admin on Mon, 2023-03-27 11:53 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, March 27, 2023
On Sunday Financial Times reporters Brooke Masters, Harriet Clarfelt and Kate Duguid published an article under the headline: "Money market funds swell by more than $286 billion as investors pull deposits from banks." ...
The Financial Times article is talking about the uninsured money market funds.
So why would Americans be flocking to these uninsured money market funds during the latest banking panic?
... Dispatch continues below ...
As Credit Suisse fails, its gold bars may be worth more than ever
Submitted by admin on Sun, 2023-03-26 10:58 Section: Daily DispatchesCredit Suisse Memorabilia Up for Grabs in Internet Shops
By Noele Illien
Reuters
Monday, March 20, 2023
ZURICH -- Within hours of its state-backed takeover by UBS Group being announced, memorabilia bearing lender Credit Suisse's name and logo was being put up for sale in Switzerland, marking the end of an era.
Dozens of bars of gold, stamped with the name of the issuer -- the 167-year-old Credit Suisse -- were uploaded to the country's most popular online marketplaces, Ricardo.ch and tutti.ch.
... Dispatch continues below ...
At King World News, analyst Stephen Leeb cites JPM's heavy gold derivatives
Submitted by admin on Sat, 2023-03-25 12:14 Section: Daily Dispatches12:22p ET Saturday, March 25, 2023
Dear Friend of GATA and Gold:
Market analyst and fund manager Stephen Leeb, interviewed this week at King World News, discusses JPMorganChase's heavy involvement in gold derivatives and speculates that the bank's short position in gold may be greater than all the bank's other assets combined.
"They're trying to control the price of gold," Leeb says, adding that the monetary metal's rising price could be an existential threat to the bank.
... Dispatch continues below ...
Central banks take metal out of London on every price smash, Maguire says
Submitted by admin on Sat, 2023-03-25 12:04 Section: Daily Dispatches12:03p ET Saturday, March 25, 2023
Dear Friend of GATA and Gold:
On Kinesis Money's "Live from the Vault" program this week, London metals trader Andrew Maguire says that every time the gold price is slapped down sharply, central banks are buying and removing real metal from members of the London Bullion Market Association -- metal that then becomes unavailable for leasing and shorting, tightening supply.
The program is 40 minutes long and can be seen at YouTube here:
Thinking interest rate increases are done, traders pile into (paper) gold
Submitted by admin on Sat, 2023-03-25 11:13 Section: Daily DispatchesTraders Pile into Bets on Gold Price Rally
By Nicholas Megaw
Financial Times, London
Saturday, March 25, 2024
Traders are betting on further increases in the price of gold after it touched a 12-mnth high this week, as investors predict the U.S. Federal Reserve's cycle of interest rate rises is over and seek safe havens during banking sector turmoil.
Hedge funds seen targeting Deutsche Bank amid 'irrational' slide
Submitted by admin on Sat, 2023-03-25 11:02 Section: Daily DispatchesBy Giulia Morpurgo and Laura Benitez
Bloomberg News
Friday, March 24, 2023
Deutsche Bank AG shares fell and the cost of insuring its debt against default rose in sudden moves that some attributed to hedge funds seeking to profit from the broader turmoil roiling the financial industry.
The German bank’s shares fell as much as 15% before paring losses to end the day down 8.5% in Frankfurt.
... Dispatch continues below ...
... ADVERTISEMENT ...
Pages
