GATA

Eurasia will lead the world back to gold, Macleod tells Maguire

Section: Daily Dispatches

9:25p ET Friday, September 30, 2022

Dear Friend of GATA and Gold:

Discussing world financial affairs with London monetary metals trader Andrew Maguire on Kinesis Money's "Live from the Vault" program, GoldMoney research director Alasdair Macleod says a new world payment system is likely to arise from the Eurasian powers and that it will draw heavily on gold.

Additionally, Macleod notes the steady devaluation of many major currencies and says the entire fiat currency system well may collapse.

Frank Holmes: Gold has been a great store of value amid the 'everything selloff'

Section: Daily Dispatches

By Frank Holmes
U.S. Global Investors, San Antonio, Texas
Wednesday, September 28, 2022

"Gold is no longer a safe haven." 

"Gold isn't an effective hedge against inflation." 

"Gold is dead."

Ted Butler: The monetary metals bear trap: Is it finally set?

Section: Daily Dispatches

By Ted Butler
SilverSeek.com
Thursday, September 29, 2022

What has been occurring in the gold and silver markets is nothing short of extraordinary. In the face of all objective and measurable conditions in the physical markets pointing to higher prices, instead prices have collapsed over the past six months by amounts comparable to the sharpest selloffs in history. From the price top of March 8, gold has fallen as much as $450 (22%), while silver has fallen by as much as $10 (36%) in recent dealings.

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The UK's crisis of confidence was years in the making

Section: Daily Dispatches

By Philip Aldrick, Libby Cherry, and David Goodman
Bloomberg News
via Yahoo News, Sunnyvale, California
Thursday, September 29, 2022

Britain is in a self-inflicted financial crisis, years in the making, that threatens to accelerate the economy’s dive into recession — and the country’s new prime minister is coming under intense pressure to blink.

China's state banks told to stock up for yuan intervention

Section: Daily Dispatches

By Julie Zhu
Reuters
Thursday, September 29, 2022

HONG KONG -- China's central bank has asked major state-owned banks to be prepared to sell dollars for the local unit in offshore markets as it steps up efforts to stem the yuan's descent, four sources with knowledge of the matter said.

State banks were told to ask their offshore branches, including those based in Hong Kong, New York and London, to review their holdings of the offshore yuan and ensure U.S. dollar reserves are ready to be deployed, three of the sources, who declined to be identified, told Reuters.

Alasdair Macleod: Kwarteng and a job half done

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, September 29, 2022

Following the new Kwarteng/Truss economic policies revealed in last week’s mini budget for the United Kingdom, the widespread condemnation is a reflex Keynesian response from a world that has become hostage to erroneous economic and monetary groupthink in its major institutions.

Asante