Daily Dispatches

Upside-down world of negative rates is coming for U.S. savers

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By Emily Barrett
Bloomberg News
Tuesday, March 17, 2020

Mattresses full of money, getting paid to take out a mortgage, surging demand for safe-deposit boxes -- these are some of the ideas people have about what happens when interest rates turn negative.

As infinite money chases collapsing production, gold is on call

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12:02p ET Tuesday, March 17, 2020

Dear Friend of GATA and Gold:

A few observations on the turmoil in the financial system.

1) Because of the virus epidemic, economic production is being sharply curtailed around the world and likely will remain sharply curtailed for some time.

Key source of corporate cash seizing up amid credit market rout

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By Jennifer Surane, Paula Seligson, Alex Harris, and Liz McCormick
Bloomberg News
Monday, March 16, 2020

A corner of the financial system that provides corporate America with short-term IOUs to buy inventory or make payrolls is seizing up, triggering a scramble for cash elsewhere and fueling speculation that the Federal Reserve will intervene.

Ronan Manly: Margin-call rationale for gold's plunge doesn't fit facts

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By Ronan Manly
Bullion Star, Singapore
Monday, March 16, 2020

... It's surprising to many that the gold price has turned back twice in the last two weeks from breaking out above the U.S. $1,700 level -- all in an environment of collapsing stock markets, general market panic, end-of-the-world scenarios, and now a U.S. national emergency.

Dave Kranzler: Extreme disconnect between paper and physical gold

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By Dave Kranzler
Investment Research Dynamics, Denver
Monday, March 16, 2020

Gold's best chance? BIS employee has virus

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Bank for International Settlements Employee in Basel Tests Positive

By Matthew Vincent
Financial Times, London
Monday, March 16, 2020

https://www.ft.com/content/f5bedb66-51a1-3eb2-a1ef-9ab452acc357

Prof. Roubini proposes tokenized toilet paper as currency -- 'more useful than gold'

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By Mathew Di Salvo
Decrypt.com, Brooklyn
Sunday, March 15, 2020

American economist and long-time crypto skeptic Nouriel Roubini took another dig at virtual currencies on Twitter today -- by saying there should be a virtual currency for toilet paper.

U.S. stock futures tumble to limit down after Fed moves

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By Sarah Ponczek and Vildana Hajric
Bloomberg News
Sunday, March 15, 2020

U.S. stock futures tumbled, wiping out half of the furious last-hour rally Friday and tripping exchange trading curbs, as investors worried that emergency measures by the Federal Reserve will fall short of cushioning the coronavirus' blows to the economy.

Fed cuts main interest rate to near zero and will boost assets by $700 billion

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By Craig Torres and Rich Miller
Bloomberg News
Sunday, March 15, 2020

The Federal Reserve swept into action on Sunday in a new bid to save the U.S. economy from the fallout of the coronavirus, cutting its benchmark interest rate by a full percentage point to near zero and promising to boost its bond holdings by at least $700 billion.

Biggest move coming soon for gold and silver, GATA chairman tells USAWatchdog

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By Greg Hunter
USAWatchdog.com
Sunday, March 15, 2020

Bill Murphy, chairman of the Gold Anti-Trust Action Committee (GATA), says: Don't worry about the recent price drop forced on the markets by the gold cartel with naked short selling. It’s not going to keep prices down for long.

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