Daily Dispatches

Nigerian central bank governor suggests naira has been devalued

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By Anthony Osae-Brown and Tope Alake
Bloomberg News
Saturday, February 27, 2021

Nigeria's central bank governor suggested the nation’s currency has been devalued.

Gold is a powerful weapon both for and against central banking

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11:59a ET Friday, February 25, 2021

Dear Friend of GATA and Gold:

Time for another installment of our occasional feature "Ask a High School Graduate."

Our friend J.S. writes:

London metals trader Andrew Maguire said this week in his interview for Kinesis Money --

http://gata.org/node/20947

Tuomas Malinen: The conditions for hyperinflation are in place

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By Tuomas Malinen
GNS Economics, Helsinki, Finland
Wednesday, February 24, 2021

From time-to-time historically, national authorities have resorted to financing by their central bank to cover budget shortfalls. Another word for this is monetization of debt or deficit-financing by the central bank.

Pam and Russ Martens: Wall Street tells Fed there's no more room for Treasuries

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By Pam and Russ Martens
Wall Street on Parade
Friday, February 26, 2021

Plenty of silver is available, London trader Maguire says, but only at much higher prices

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8:40p ET Thursday, February 25, 2021

Dear Friend of GATA and Gold:

Alasdair Macleod: Monetary inflation -- the next step

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By Alasdair Macleod
GoldMoney, St. Helier, Jersey, Channel Islands
Thursday, February 25, 2021

Earlier this month the U.S. Treasury released its plan to flood the financial system with cash by reducing its balance on its general account at the Fed by $1.229 trillion by not renewing an equivalent amount of T-Bills.

Pam and Russ Martens: Lawless coup on Wall Street continues as GameStop soars

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By Pam and Russ Martens
Wall Street on Parade
Thursday, February 25, 2021

It's not just the nation's Capitol that saw a lawless attempted coup this year. There's an ongoing lawless coup taking place on Wall Street among stock manipulators who seem to be sending the message to the Biden administration, "We dare you to catch us."

... Dispatch continues below ...


Yellen supports new allocation of IMF's SDR currency to help poor nations

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By Andrea Shalal and David Lawder
Reuters
Thursday, February 25, 2021

WASHINGTON -- U.S. Treasury Secretary Janet Yellen today threw her support behind a new allocation of the IMF's own currency, or Special Drawing Rights, but said broad parameters were needed to boost transparency on how the reserves are used and traded.

Russia must 'barricade' itself against dollar, senior diplomat says

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By Ilya Arkhipov and Henry Meyer
Bloomberg News
Wednesday, February 24, 2021

Russia must take urgent steps to cut its use of the dollar to a minimum as the new U.S. administration of Joe Biden signals it will ramp up sanctions, a top diplomat said.

Jim Rickards: The great reset is here

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7:30p ET Wednesday, February 24, 2021

Dear Friend of GATA and Gold:

In his new essay this week, "The Great Reset Is Here," economist and author Jim Rickards describes it this way:

-- Massive amounts of Special Drawing Rights are being issued to the members of the International Monetary Fund to create a world reserve currency alternative to the U.S. dollar.

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