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Daily Dispatches

Craig Hemke at Sprott Money: Upward reversals for gold and silver coming soon

Section: Daily Dispatches

9:45p ET Tuesday, May 10, 2022

Dear Friend of GATA and Gold:

The TF Metals Report's Craig Hemke, writing today at Sprott Money, shrugs off the recent plunges in gold and silver futures and contends that upward reversals will happen soon as the Federal Reserve eases off its increases in interest rates to halt a stock market crash.

Hemke's analysis is headlined "Reality Bites: An Update" and it's posted at Sprott Money here:

Richard Bernstein: You are what your real fed funds rate says you are

Section: Daily Dispatches

By Richard Bernstein
Financial Times, London
Tuesday, May 10, 2022

Former NFL coach Bill Parcells famously said, "You are what your record says you are." A team's coach might try to rationalise a losing record by highlighting good planning, unfortunate injuries, or players' small miscues but the stark reality is a team with a losing record is a poor one.

The Federal Reserve claims to be fighting inflation, but before one proclaims the central bank "hawkish," it seems appropriate to paraphrase Parcells: You are what your real fed funds rate says you are.

Ronan Manly: Lack of audits undermines Lebanon's claim to be Middle East gold heavyweight

Section: Daily Dispatches

By Ronan Manly
Bullion Star, Singapore
Monday, May 9, 2022

With claimed gold reserves of 286 tonnes, Lebanon's central bank -- Banque du Liban -- trumpets itself as being one of the Middle East's largest sovereign gold holders. In fact, on a regional basis, only the claimed gold reserves of Saudi Arabia are larger.

Indeed, Banque du Liban governor Riad Salameh made this very claim as recently as April 8 to Egypt's Middle East News Agency, saying that Lebanon has the second largest gold reserves across the Middle East and North Africa.

Pam and Russ Martens: These stock patterns are impossible without manipulation SEC ignores

Section: Daily Dispatches

Despite their longstanding heroic work, even the Martenses haven't yet realized that market manipulation conducted by or at the behest of the U.S. government is fully authorized by the Gold Reserve Act of 1934 as amended since then. The law gives market-rigging power to the U.S. Treasury Department's Exchange Stabilization Fund, which can use the New York Fed or any investment house as its broker.

* * *

By Pam Martens and Russ Martens
Wall Street on Parade
Monday, May 9, 2022

Gold's 'strange behavior' explained once more for Bloomberg News

Section: Daily Dispatches

Monday, May 9, 2022

Jared Dillian
c/o Bloomberg News, New York

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

Section: Daily Dispatches

9:52p ET Sunday, May 8, 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. 

Russia's discounts on energy purchased with gold are draining exchanges, Maguire says

Section: Daily Dispatches

11:33p ET Saturday, May 7, 2022

Dear Friend of GATA and Gold:

London metals trader Andrew Maguire, in his weekly interview with Shane Morand for Kinesis Money, says gold and silver prices on the London and New York exchanges no longer represent the markets for the bulk of trading of those metals, which now is happening outside the exchanges and involves large premiums.

Sprott School of Business professor disparages gold

Section: Daily Dispatches

In 2006, when Canada sold the last of its official gold reserves, the gold price was fluctuating between US$1,140 and US$1,380. Today gold is at US$1,883. Since 2006 it has been as high as US$2,000 and has never been lower than it was in 2006. In recent years central banks have turned from net sellers to net buyers of gold.

Zillionaire Giustra earns his tinfoil hat and brings Kitco's Makori along for the ride

Section: Daily Dispatches

2p ET Thursday, May 5, 2022

Dear Friend of GATA and Gold:

Give that man a tinfoil hat!

Mining and movie entrepreneur and zillionaire Frank Giustra has gone full "conspiracy nut" in an interview today with Michelle Makori of Kitco News, surpassing his previous cautious assertions that the gold price is "managed" by central banks and saying now that the price is "outright manipulated." 

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Alasdair Macleod: Financial war takes a nasty turn

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, May 5, 2022

The chasm between Eurasia and the Western defence groupings (NATO, Five Eyes, AUKUS, et al.) is widening rapidly. While media commentary focuses on the visible side of the conflict in Ukraine, the economic and financial aspects are what really matter.

There is an increasing inevitability about it all. China has been riding the inflationist Western tiger for 40 years and now that it sees the dollar's debasement accelerating wonders how to get off. 

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