Pam and Russ Martens: Without authority, Fed creates $500 billion bailout fund for Wall Street

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Monday, August 8,8, 2022

The Federal Reserve is doing something it has never been allowed to do in its 109 years of operation. And the Fed is doing it without any pushback from Congress.

Robert Lambourne: Fed isn't tightening even close to the rate it announced

Section: Daily Dispatches

By Robert Lambourne
Saturday, August 6, 2022

So far this month the daily cash reports from the U.S. Treasury are demonstrating reasonably consistent cash outflows and debt buildup. There is a huge amount of noise in daily cash movements, but the gross debt is close to $30.6 trillion versus a statutory debt limit of $31.38 trillion, compared to an amount of $28.43 trillion on October 1, 2021. So there is not too much headroom with the debt and it looks like the time is near when efforts will be made to obfuscate the real position.

Avoid futures, accumulate physical, TF Metals Report's Hemke tells 'Live from the Vault'

Section: Daily Dispatches

11p ET Friday, August 5, 2022

Dear Friend of GATA and Gold:

TF Metals Report publisher Craig Hemke is London metals trader Andrew Maguire's guest this week on Kinesis Money's "Live from the Vault" program, urging gold and silver investors to avoid the futures market and stick to steady accumulation of physical metal.

The futures markets are rigged by the bullion banks, Hemke notes, but he adds that he has never seen the metals markets as bullish as they are now, since the banks are longer than they have ever been and the speculators shorter.

Maduro is using Queen Elizabeth's letters in fight over Venezuelan gold

Section: Daily Dispatches

So just have the queen send Maduro another letter, this one urging him to drop dead.

* * *

By Samy Adghirni, Fabiola Zerpa, and Jeremy Hodges
Bloomberg News
Friday, August 5, 2022

Venezuela's government has produced letters apparently signed by Queen Elizabeth II to bolster its claim to more than $1 billion of gold stored in the Bank of England. 

The diplomatic correspondence is evidence that the UK recognized Nicolas Maduro as Venezuela's president, said Calixto Ortega, the head of Venezuela's central bank. 

When buying gold or silver, consider the dealers who support GATA

Section: Daily Dispatches

11:51a ET Thursday, August 4, 2022

Dear Friend of GATA and Gold:

Being the only forms of money without counterparty risk, at least when held directly by their owners, gold and silver are often seen as the foundation of a sound investment portfolio. 

Alasdair Macleod: Is bank credit friend or foe?

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, August 4, 2022

Advocates of sound money place much of the blame for inflation on bank credit. Do away with the creation of bank credit, they say, and the destructive cycle of boom and bust will be cured. But is this solution practical, and is it the real inflation problem?

It may be an inconvenient fact, but commodity prices prove to be far more volatile under a fiat currency regime than they ever where under sound money and fluctuations in bank credit.

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