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John Mueller: Time to reverse the dollar's reserve-currency curse
By John Mueller
The New York Sun
Thursday, August 5, 2021
Journalism thrives on simple narratives and round numbers. So I must note that what President Nixon ended 50 years ago was not the international gold standard, which persisted despite interruptions for more than two millennia to 1914, but its complicated parody: the gold-exchange standard, established 99, not 50, years ago by a 1922 agreement at Genoa.
Prime Minister David Lloyd George convened the Genoa Conference in an effort to restore the economies of Central and Eastern Europe, modify the schedule of German reparations owed to France, and begin the re-integration of Soviet Russia into the European economy. Lacking any American support, the conference was a failure on all those counts.
... Dispatch continues below ...
Asante Gold Announces Acquisition of Resolute's Bibiani Gold Mine in Ghana for US$90 Million
Company Announcement
via Globe Newswire, Omaha, Nebraska
Wednesday, August 4, 2021
VANCOUVER, British Columbia, Canada -- Asante Gold Corp (CSE:ASE / Frankfurt: 1A9 / U.S. OTC:ASGOF) announces that it has entered into an agreement with Resolute Mining Ltd. to purchase 100% of the Bibiani Gold Mine in Ghana.
Asante has agreed to buy all of Resolute's interest in Bibiani, through the purchase of 100% of the shares in Mensin Bibiani Pty Ltd., by paying to Resolute total cash consideration of US$90 million ...
The agreement has received ministerial consent, having been approved by the Ghanaian minister of lands and natural resources, with completion expected 10 days after the date of this announcement (subject only to no material adverse change over this period). ...
To fund the initial payment, start-up, and working capital, Asante has accepted subscription receipts from accredited investors for C$80 million, which on completion will convert to 118,857,143 Asante common shares at C$0.70 per share. A finder's fee of 4% of the total subscription receipts is payable in shares. No new control blocks will be created as a result of this financing. ...
... For the remainder of the announcement:
https://finance.yahoo.com/news/asante-gold-announces-acquisition-resolute-003100480.html
The gold-exchange standard, John Maynard Keynes' idea, was Genoa's one tangible result. Keynes had proposed in 1913 that the monetary system of British colonial India be adopted world-wide. The British pound would remain convertible into gold, but India's and other countries' domestic payments would be backed by ostensibly gold-convertible claims on London.
Following Genoa, the pound could be exchanged for gold, and other national currencies could be exchanged for pounds. ...
... For the remainder of the commentary:
https://www.nysun.com/national/beyond-bretton-woods-the-road-from-genoa/91606/
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Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
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