Daily Dispatches

Eric Sprott's weekly review: Closer to a short squeeze in metals?

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9:06a ET Saturday, April 21, 2018

Dear Friend of GATA and Gold:

Reviewing this week's market action, mining entrepreneur Eric Sprott and Craig Hemke of Sprott Money News discuss the seemingly growing possibility of a short squeeze in the monetary metals. Their discussion is 13 minutes long and can be heard at Sprott Money here:

NY Fed nominee faults bitcoin for lacking elasticity and central bank sponsorship

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But isn't that the point of cryptocurrency -- and gold?

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Likely New York Fed President Says Bitcoin 'Doesn't Pass the Basic Test' for a Currency

By Jeff Cox
CNBC, New York
Friday, April 20, 2018

The central banker expected to be the next head of the New York Fed doesn't think much of bitcoin and other cryptocurrencies.

Turkey repatriates its gold reserves from U.S.

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By Rufiz Hafizoglu
Trend News Agency
Baku, Azerbaijan
Thursday, April 19, 2018

https://en.trend.az/business/economy/2889996.html

Turkey's central bank has transferred its gold reserves stored in the U.S. Federal Reserve System to Turkey, Turkish media reported today, citing sources in the government.

Ecuador is getting realistic and practical about exploiting its mineral wealth

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9:42p ET Wednesday, April 18, 2018

Dear Friend of GATA and Gold:

The VICE newsmagazine on HBO television has just done a documentary about geologist and mining entrepreneur Keith Barron's return to Ecuador as CEO of Aurania Resources, and it suggests that the country and its people have taken a new, realistic, and practical approach to exploiting their mineral riches.

Iran switches from dollar to euro as official reporting currency

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From Reuters
Wednesday, April 18, 2018

LONDON -- Iran will start reporting foreign currency amounts in euros rather than U.S. dollars, state media said today as part of the country's effort to reduce its reliance on the U.S. currency due to political tension with Washington.

IMF sounds alarm on excessive global borrowing

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By Chris Giles
Financial Times, London
Wednesday, April 18, 2018

WASHINGTON -- The International Monetary Fund today sounded the alarm on excessive global borrowing, warning that with a total of $164 trillion owed, the world's public and private sectors are deeper in debt than at the height of the financial crisis a decade ago.

Craig Hemke at Sprott Money: The Comex 'exchanges for physical' fraud

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7:35p ET Tuesday, April 17, 2018

Dear Friend of GATA and Gold:

The sudden rise in settlement of Comex gold and silver futures contracts through the formerly obscure off-exchange mechanism of "exchange for physicals" is likely just increasing the supply of imaginary metal, the TF Metals Report's Craig Hemke writes today for Sprott Money.

... Dispatch continues below ...


GATA publishes its federal tax returns

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3:56p ET Tuesday, April 17, 2018

Dear Friend of GATA and Gold:

Venezuela's 'suffocating' oil workers request dollar payments

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By Fabiola Zerpa
Bloomberg News
Monday, April 16, 2018

A group of workers at Venezuela's state-owned oil company is requesting wages in dollars as well as meal plans and better health insurance to make up for what they called "suffocating" economic conditions.

China increases U.S. Treasuries holdings despite trade tension

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By Joe Rennison and Robin Wigglesworth
Financial Times, London
Monday, April 16, 2018

China expanded its U.S. Treasury holdings in February despite escalating trade tension between Beijing and Washington at the time, helping damp concerns the country could shed U.S. assets to hit back at the Trump administration. 

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