Daily Dispatches

Craig Hemke at Sprott Money: Surging Comex silver deliveries

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4:16p ET Tuesday, May 29, 2018

Dear Friend of GATA and Gold:

FX abuses persist even after $10 billion in fines, traders say

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By Lananh Nguyen
Bloomberg News
Tuesday, May 29, 2018

Add Andy Maack of Vanguard Group Inc. to the list of a dozen or so executives who say that routine misbehavior in the $5.1 trillion-a-day foreign exchange market persists even after banks paid $10 billion in penalties and a trader was sent to prison.

Former IMF official becomes Italy's interim prime minister

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Markets Hit as Carlo Cottarelli Named as Italy's New Prime Minister

By James Politi
Financial Times, London
Monday, May 28, 2018

Investors ditched Italian bonds and equities on Monday as Sergio Mattarella, Italy's president, sought to head off political and market tensions by asking Carlo Cottarelli, a former International Monetary Fund official, to run a technocratic government.

Italy's fresh election risks being referendum on euro

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By Steve Scherer
Reuters
Monday, May 28, 2018

ROME -- The euro looked to have dodged a bullet when Italy's would-be eurosceptic coalition government collapsed at the weekend, but it may turn out to have been the opening salvo in a war over Europe's single currency.

China to host Iran at Shanghai Cooperation Council to help evade U.S. sanctions

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China to Host Iran to Avoid Project Disruption Amid Nuclear Deal Doubt

From Reuters
Monday, May 28, 2018

BEIJING -- China will host Iranian President Hassan Rouhani next month at a regional summit aimed at avoiding disruption of joint projects, its foreign ministry said today, as major powers scramble to save Iran's nuclear deal after the United States pulled out.

Central banking's secret market rigging, not its credibility, controls price expectations

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10:30a ET Monday, May 28, 2018

Dear Friend of GATA and Gold:

Oh, for a chance to put critical questions to central bankers at forums where their refusal to reply responsively at least might embarrass them in front of an audience. (Of course that's why such forums are never held.)

Wolfgang Munchau: The euro must be made more robust to rival the dollar

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By Wofgang Munchau
Financial Times, London
Sunday, May 27, 2018

https://www.ft.com/content/ca8c6826-5f76-11e8-ad91-e01af256df68

Many years ago I used to attend an annual seminar in pleasant surroundings in which the participants discussed the politics and economics of two European countries. There were usually two groups.

Lack of reliable domestic money corrupts everyone in Zimbabwe's capital

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Inside Zimbabwe's Multi-Million-Dollar Black Economy

From the Center for Investigative Journalism
Harare, Zimbabwe
Friday, May 25, 2018

Hyperinflation, free electricity fuel crypto-mining boom in Caracas

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There's a Crypto-Mining Machine in Every Home in Caracas

By Daniel Cancel
Bloomberg News
Friday, May 25, 2018

CARACAS, Venezuela -- Crypto fever may have cooled across much of the globe, but don't tell that to folks here. They're mining coins like crazy.

Europeans in Iran bitterly denounce U.S. as 'Caesar' amid new sanctions

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By Thomas Erdbrink
The New York Times
Saturday, May 26, 2017

TEHRAN, Iran -- After the landmark nuclear agreement of 2015, hundreds of European, Asian and even American companies rushed to enter Iran's largely untapped market of 80 million people, assured by the United States and the other signatories that their investments would be safe for at least a decade.

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