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Daily Dispatches
Harold James and Brendan Greeley: Gold fetishism has had its day
Submitted by admin on Thu, 2022-03-03 13:34 Section: Daily DispatchesBy Harold James and Brendan Greeley
Financial Times, London
Wednesday, March 2, 2022
https://www.ft.com/content/1de156dc-e4aa-4afb-accf-69c62193cbc6
Putin's war on Ukraine rested on two premises: that a massive show of force would demoralise Kyiv; and that Russia's $630 billion in financial reserves would deter anyone who might question the value of the rouble.
Kinross Gold suspending Russian mining operations amid Ukraine invasion
Submitted by admin on Thu, 2022-03-03 13:10 Section: Daily DispatchesBy Niall McGee
The Globe and Mail, Toronto
Thursday, March 3, 2022
Kinross Gold Corp. is suspending its mining operations and all development work in Russia's far east, amid the country's continuing military incursion into Ukraine.
Last year Russia accounted for 23% of Kinross' production, and the Kupol mine complex was its most profitable operation, generating US$443-million in income.
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Gold, silver, base metals, commodities, and help for GATA in The Calandra Report
Submitted by admin on Tue, 2022-03-01 22:08 Section: Daily Dispatches10:17p ET Tuesday, March 1, 2022
Dear Friend of GATA and Gold:
The gold price, the TF Metals Report's Craig Hemke wrote tonight at Sprott Money, carries more than a "war premium." Additionally, anyone who follows GATA knows that there long has been a massive and uncoverable short position in gold instigated and backstopped by central banks. This short position will be called someday, and when that happens, the monetary metals mining industry will be much more profitable.
Craig Hemke at Sprott Money: Gold's rise is more than a war premium
Submitted by admin on Tue, 2022-03-01 21:15 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Tuesday, March 1, 2022
As anyone who has watched the precious metals for any amount of time will tell you, price rallies on geopolitical concerns rarely hold. The same might be true today. However, do not make the mistake of thinking that the current rally in gold and silver is based solely upon geopolitics. There's a lot more going on at present, and those drivers will persist regardless of the outcome of the Ukraine crisis.
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Ronan Manly: LBMA quietly expels its two Russian bank members
Submitted by admin on Tue, 2022-03-01 09:56 Section: Daily Dispatches9:56a ET Tuesday, March 1, 2022
Dear Friend of GATA and Gold:
Bullion Star researcher Ronan Manly reports that the London Bullion Market Association has quietly expelled its two Russian bank members. Manly adds that Western economic sanctions against Russia may impair the tradability of "London good delivery" gold bars produced by Russian refiners and purchased long before sanctions were imposed.
Manly's report is headlined "LBMA a Deer in Headlights as Western Sanctions Show Up Russian Gold Refiners" and it's posted at Bullion Star here:
BIS hasn't answered the question about Russian transactions
Submitted by admin on Mon, 2022-02-28 13:31 Section: Daily Dispatches1:35p ET Monday, February 28, 2022
Dear Friend of GATA and Gold:
Last night as Western economic sanctions against Russia over its invasion of Ukraine started to get more serious, your secretary/treasurer sent a question to the press office of the Bank for International Settlements in Switzerland:
"Is the BIS freezing or otherwise restricting Russian assets and transactions through the BIS?"
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USAGold's 'News & Views' for March: Waiting for the Fed
Submitted by admin on Mon, 2022-02-28 12:59 Section: Daily Dispatches12:58p ET Monday, February 28, 2022
Dear Friend of GATA and Gold:
USAGold's "News & Views" letter for March is headlined "Waiting for the Fed" and makes reference to the 1950s play by Samuel Beckett, "Waiting for Godot," which, for some reason, high schools across the country used to make required reading, maybe because it was meaningless. In any case, as "News & Views" notes, in the play Godot never shows up.
BIS says it won't help Russia evade sanctions
Submitted by admin on Mon, 2022-02-28 09:53 Section: Daily DispatchesBy Marc Jones
Reuters
Monday, February 28, 2022
LONDON -- The Bank for International Settlements, the umbrella body for central banks worldwide, said today it would not be an avenue for any circumvention of powerful Western sanctions put on Russia over the weekend.
Western allies announced sweeping new sanctions against Moscow on Saturday, including Russia's central bank in a bid to restrict its ability to deploy $640 billion of forex and gold reserves.
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Doomed ship of gold's ghostly picture gallery plucked from seabed
Submitted by admin on Sun, 2022-02-27 22:26 Section: Daily DispatchesBy Dalya Alberge
The Observer / The Guardian, London
Sunday, February 27, 2022
It is one of the most famous treasure wrecks ever discovered, a steamer named the "ship of gold" after it sank in 1857 off the coast of South Carolina with one of the largest cargoes of gold ever lost at sea.
Miners who had struck it rich in the California gold rush were among those bringing home to New York their hard-earned wealth, only to lose their lives when the SS Central America was struck by a hurricane, sinking nearly a mile and a half beneath the waves.
Energy firms snap up Russian gas as Europe seeks alternatives
Submitted by admin on Sun, 2022-02-27 17:05 Section: Daily DispatchesEven Ukraine hasn't cut the pipelines carrying Russian gas across its territory to western Europe.
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By Elena Mazneva
Bloomberg News
Sunday, February 27, 2022
European leaders talking up plans to wean the continent off Russian natural gas are facing a harsh reality: Energy companies are buying more as the war rages in Ukraine.
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