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Daily Dispatches
Jan Nieuwenhuijs: What happened to the $650 billion in SDRs issued last year?
Submitted by admin on Sat, 2022-08-27 11:13 Section: Daily Dispatches11a ET Saturday, August 27, 2022
Dear Friend of GATA and Gold:
Gold researcher Jan Nieuwenhuijs this week closely examined the Special Drawing Rights that are issued by the International Monetary Fund and concluded that the August 2021 issuance of 456 billion new SDRs did not really "boost global liquidity," the supposed purpose of the undertaking.
Rather, Nieuwenhuijs writes, the issuance of those SDRs was meant mainly to provide the IMF itself with some reason for being and to sustain the interest payments the agency receives from issuing SDRs.
Fed can't fix fiscal-driven inflation, Jackson Hole paper says
Submitted by admin on Sat, 2022-08-27 10:56 Section: Daily DispatchesBy Matthew Boesler
Bloomberg News
Saturday, August 27, 2022
The Federal Reserve won't be able to curb inflationary pressures because they are rooted in expansionary fiscal policy, according to a paper presented today at the central bank's annual Jackson Hole conference.
"That approximately half of the recent increase in inflation has fiscal roots poses some specific challenges for policy makers today.
Russia redirects gold exports to China with 30% discount
Submitted by admin on Fri, 2022-08-26 22:43 Section: Daily DispatchesRussian Gold Rerouted to China Amid Western Ban
From The Moscow Times
Amsterdam, Netherlands
Friday, August 26, 2022
https://www.themoscowtimes.com/2022/08/26/russian-gold-rerouted-to-china-amid-western-ban-a78660
Congressman faults U.S. Mint's underproduction of Silver Eagles, wants answers
Submitted by admin on Fri, 2022-08-26 10:05 Section: Daily DispatchesFrom Money Metals News Service, Eagle, Idaho
Friday, August 26, 2022
WASHINGTON -- U.S. Rep. Alex Mooney, R-West Virginia, is calling out U.S. Treasury Secretary Janet Yellen and U.S. Mint Director Ventris Gibson for the "long-running production slowdown" in the Silver American Eagle bullion coin program that has caused "shortages and dramatically higher market prices for this iconic silver coin as compared to its peers worldwide."
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New Orleans conference returns in full in October, so join GATA there
Submitted by admin on Fri, 2022-08-26 10:02 Section: Daily DispatchesBy Brien Lundin
Editor, Gold Newsletter
CEO, New Orleans Investment Conference
Wednesday, July 20, 2022
As a serious investor, you’re well aware of the unique challenges presented by today’s markets.
-- Central banks -- led by the Federal Reserve -- intent to fight off rising inflation with rate hikes.
-- The markets responding with massive selloffs, sending a clear message to the Fed to lay off.
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Alasdair Macleod: Living with contracting bank credit
Submitted by admin on Thu, 2022-08-25 14:21 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, August 25, 2022
In this article we look at the consequences of contracting bank credit on the economy, financial markets, and commodities. It is a developing global condition.
Why is bank credit on the verge of a substantial contraction?
Ted Butler: Why silver went down when it should have gone up
Submitted by admin on Thu, 2022-08-25 13:36 Section: Daily DispatchesBy Ted Butler
Butler Research, Jupiter, Florida
via SilverSeek.com
https://www.butlerresearch.com/
Two weeks ago it looked to me like silver was about to take off, following months of sharp price declines, yet we experienced the worst selloff in a couple of years.
Ambrose Evans-Pritchard: Fed wants to crush stock markets, so ignore it at your peril
Submitted by admin on Wed, 2022-08-24 22:55 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, August 24, 2022
Beware the wrath of the U.S. Federal Reserve at this week's conclave of central bankers in Jackson Hole, Wyoming. The Fed is determined to break Wall Street's torrid and unwelcome rally, a bear-trap variant if ever there was one.
Ghana lets Chinese gold mining company murder local residents, steal from adjacent mine
Submitted by admin on Wed, 2022-08-24 22:37 Section: Daily DispatchesBlood Gold: In Africa's Gold Country an Australian Firm
Is Embroiled in a Bitter and Deadly $395 Million Dispute
By Eryk Bagshaw and Edward Adeti
Sydney Morning Herald
Thursday, August 25, 2022
The tunnel runs 150 metres underground. Inside, Australian mining manager Andrew Head is trudging through mud and muck. He only has a headlight to guide him as the temperature in this dark pit in western Africa hits 45 degrees.
Loan company plans big business monetizing gold in India
Submitted by admin on Tue, 2022-08-23 21:56 Section: Daily DispatchesCapri Loans Plans to Open 1,500 Gold Loan Branches Over 5 Years
By Teena Jain Kaushal
Business Today, Noida, India
Tuesday, August 23, 2022
Capri Loans, a non-banking financial company forcused on micro, small, and medium-sized enterprise credit and housing finance, plans to open 1,500 gold loan branches over the next five years in Tier 3 and 4 cities to target the unorganised sector.
It aims to build a gold loan book size of R8,000 crore given the rise in credit needs among people.
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