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Daily Dispatches
Bank of England admits helplessness against inflation
Submitted by admin on Mon, 2022-05-16 13:17 Section: Daily DispatchesBy James Warrington and Giulia Bottaro
The Telegraph, London
Monday, May 16, 2022
The governor of the Bank of England has claimed that policy makers have been left helpless in the face of surging inflation.
Appearing in front of MPs today, Andrew Bailey admitted he had felt helpless to control soaring prices amid an energy market shock and the war in Ukraine, adding: "It;s a very, very difficult place for us to be in."
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Chile's constitutional assembly rejects major mining overhaul
Submitted by admin on Sat, 2022-05-14 20:10 Section: Daily DispatchesFrom Reuters
Saturday, May 14, 2022
SANTIAGO, Chile -- A constitutional assembly in the top-copper producing nation today rejected a major overhaul to mining rights, including expanding Chilean state ownership.
Controversial Article 27, which would have given the state exclusive mining rights over lithium, rare metals, and hydrocarbons and a majority stake in copper mines, faced fierce opposition from the mining sector and was voted down last week.
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James Turk explains why gold is natural money
Submitted by admin on Fri, 2022-05-13 21:21 Section: Daily Dispatches9:21p ET Friday, May 13, 2022
Dear Friend of GATA and Gold:
In an essay published this week at the Free Gold Money Report, GoldMoney founder and GATA consultant James Turk explains why gold is natural money that will still be in use even as government currencies come and go.
Gold's ratio to the most crucial commodity, oil, has remained remarkably constant throughout the industrial age, Turk writes, and its ratio to other commodities has been pretty stable too.
Turk's essay is titled "Natural Money" and it's posted here:
Where is Guinea's gold? A London laundering case may hold clues
Submitted by admin on Fri, 2022-05-13 20:47 Section: Daily DispatchesBy Eddie Spence, Jonathan Browning, and Katarina Hoije
Bloomberg News
Friday, May 13, 2022
The government of Guinea wants to know what happened to three tons of its gold. The answer may lie in London.
In March, Guinean authorities arrested a former head of the central bank and charged him with embezzlement after the custodian of the gold, Belgian refiner Affinor BVBA, said it was unable to return it
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LME seeks increased transparency to prevent repeat of nickel squeeze
Submitted by admin on Fri, 2022-05-13 11:10 Section: Daily DispatchesBy Mark Burton
Bloomberg News
Friday, May 13, 2022
The London Metal Exchange plans to force members to regularly report details of their over-the-counter metals positions, substantially expanding its market surveillance capabilities in the wake of this year’s nickel squeeze.
The LME has already imposed emergency limits on daily price moves to prevent a repeat of the 250% spike in nickel prices seen in March, and is now looking to expand its oversight of the bilateral deals agreed between dealers and their clients.
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When buying gold and silver, consider the dealers who support GATA
Submitted by admin on Thu, 2022-05-12 23:36 Section: Daily Dispatches11:35p ET Thursday, May 12, 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: The most difficult thing in economics is to explain rising prices
Submitted by admin on Thu, 2022-05-12 19:35 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, May 12, 2022
It is apparent from media commentary that there is considerable misunderstanding over the causes behind rising prices and the consequences for interest rates. There are now signs that the official narrative over these issues is misleading at best.
Trump-backed Mooney wins Republican House primary in West Virginia
Submitted by admin on Tue, 2022-05-10 22:17 Section: Daily DispatchesU.S. Rep. Alex Mooney, R-West Virginia, repeatedly has pressed the Federal Reserve, Treasury Department, and Commodity Futures Trading Commission with inconvenient questions about gold market manipulation.
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By Paul Steinhauser
Fox News, New York
Tuesday May 10, 2022
Rep. Alex Mooney is projected by the Associated Press as the winner in the Republican congressional primary in West Virginia's 2nd District in a battle with fellow Republican Rep. David McKinley.
Craig Hemke at Sprott Money: Upward reversals for gold and silver coming soon
Submitted by admin on Tue, 2022-05-10 21:50 Section: Daily Dispatches9:45p 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
Submitted by admin on Tue, 2022-05-10 10:45 Section: Daily DispatchesBy 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.
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