Daily Dispatches

Consumers will be hit by capital rules on gold, refiners say

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By Henry Sanderson
Financial Times, London
Thursday, October 20, 2016

Gold refiners are warning that regulators' plans that forces banks to utilise longer-term funding against their holdings of the precious metal will ultimately make it more costly for consumers buying jewellery.

Alasdair Macleod: Fiat money and gold

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By Alasdair Macleod
GoldMoney.com, St. Helier, Jersey, Channel Islands
Thursday, October 20, 2016

It is time to revisit the Fiat Money Quantity (FMQ), which totals US dollar money deposited in the banking system, the commercial banks’ money on deposit at the Fed and physical cash.

Koos Jansen: The great physical gold supply-and-demand illusion

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8:24a ET Thursday, October 20, 2016

Dear Friend of GATA and Gold:

Gold researcher Koos Jansen writes today that the major companies providing analysis of demand for metals underestimate demand for gold because they treat it more as a commodity than a currency. Jansen's commentary is headlined "The Great Physical Gold Supply-and-Demand Illusion" and it's posted at Bullion Star here:

Gold in India trades at premium for first time in 9 months, dealers say

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By Rajendra Jadhav
Reuters
Wednesday, October 19, 2016

Gold prices in India swung to a premium for the first time in nine months today as jewellers and dealers in the world's No.2 consumer of the metal ramped up purchases ahead of major festivals.

ECB urges EU to curb virtual money for fear of losing control

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By Francesco Canepa
Reuters
Tuesday, October 18, 2016

FRANKFURT, Germany -- The European Central Bank wants EU lawmakers to tighten proposed new rules on digital currencies such as bitcoin, fearing they might one day weaken its own control over money supply in the euro zone.

Central banks, not bullion banks, long have been GATA's primary target

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7:40p ET Tuesday, October 18, 2016

Dear Friend of GATA and Gold:

In commentary today (http://www.gata.org/node/16850) Sharps Pixley CEO Ross Norman rebutted your secretary/treasurer's skepticism about the need for a price benchmarking mechanism in gold like the venerable daily gold price fixings in London, which are operated by a few large investment banks (http://www.gata.org/node/16845).

New York Sun: The alt-Trump?

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From The New York Sun
Tuesday, October 18, 2016

Dear Wall Street Journal: You don't have to be a Nazi to question central banking

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Tuesday, October 18, 2016

Editor, The Wall Street Journal
1211 Avenue of the Americas
New York, N.Y. 10036

Dear Editor:

Before your Bret Stephens again casually attributes anti-Semitism to complaints about central banking, as he did in his October 18 commentary, "The Plot Against America" --

http://www.wsj.com/articles/the-plot-against-america-1476745874

Embry: Even insiders expect EU's collapse, and FT's anti-gold propaganda gets worse

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12:52p ET Tuesday, October 18, 2016

Dear Friend of GATA and Gold:

Sprott Asset Management's John Embry, interviewed today by King World News, notes that even insiders are doubting the future of the European Union and that the Financial Times is becoming more desperate in its anti-gold propaganda:

Ross Norman: Why a gold benchmark is still needed and why London fix is best

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By Ross Norman, CEO
Sharps Pixley Bullion Brokers, London
http://www.sharpspixley.com/
Tuesday, October 18, 2016

My thoughts on GATA Secretary/Treasurer Chris Powell's most recent reply to me, which can be found here:

http://www.gata.org/node/16845

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