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Daily Dispatches
Hochschild shares drop by a third as Peru seeks to shut mines
Submitted by admin on Mon, 2021-11-22 11:03 Section: Daily DispatchesNeil Hume and Gideon Long
Financial Times, London
Monday, November 22, 2021
The market value of Hochschild Mining dropped by almost a third today after Peru moved to close two of its mines on environmental grounds, deepening a clash between the mining industry and the left-leaning government.
Efforts to require royalty payments for mining on U.S. public lands keep failing
Submitted by admin on Sat, 2021-11-20 10:26 Section: Daily DispatchesThese Democrats Are Helping Companies Take Gold from Public Lands for Free
By Cody Nelson
Mother Jones, San Francisco
Saturday, November 20, 2021
Amid the recent skirmishes over revising the reconciliation bill, known as the Build Back Better Plan, lawmakers once again skipped a chance to reform the General Mining Law of 1872.
If bitcoin is 'digital gold,' it should be taxed like gold
Submitted by admin on Fri, 2021-11-19 23:15 Section: Daily DispatchesBy Chad Bayse
The Hill, Washington
Friday, November 19, 2021
As the U.S. government seeks ways to fund its swelling debt and deficits and seemingly ever increasing spending, a puzzling anomaly exists.
Investors have flocked to bitcoin and other cryptocurrencies yet receive a preferred tax rate on long-term profits as compared to gold bullion. This makes no sense if, as its advocates like to say, bitcoin is "digital gold."
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Before gold and silver break out, you'll want The Calandra Report
Submitted by admin on Fri, 2021-11-19 23:10 Section: Daily DispatchesAnd you'll be helping GATA if you subscribe.
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11:08p ET Friday, November 19, 2021
Dear Friend of GATA and Gold:
Thom Calandra and his market letter, The Calandra Report, have been supporting GATA almost from our start 22 years ago. He is a writer and believer and investor in the monetary metals.
The rigging at the very core of the gold market is now officially confirmed
Submitted by admin on Fri, 2021-11-19 22:56 Section: Daily Dispatches10:59p ET Friday, November 19, 2021
Dear Friend of GATA and Gold:
Bullion Star researcher Ronan Manly surmises tonight that the investment banks that have just agreed to pay a cumulative $152 million to settle the claims of a U.S. class-action lawsuit that they rigged the gold market through the daily London gold price fix made far more money from the rigging than they now are disgorging to settle the case.
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Comex silver shorts are frantically getting long with producers, London trader Maguire says
Submitted by admin on Fri, 2021-11-19 21:46 Section: Daily Dispatches9:40p ET Friday, November 19, 2021
Dear Friend of GATA and Gold:
The big shorts in New York Comex silver futures are frantically buying commitments from producers for as much physical metal as is available through next year and into 2022, London metals trader Andrew Maguire tells Kinesis Money's Shane Morand in their bi-weekly "Live from the Vault" interview. Maguire adds that the "Basel 3" banking regulations soon will push monetary metals prices up in the London market.
Maguire's interview with Morand is 29 minutes long and can be viewed at YouTube here:
Alasdair Macleod: Returning to sound money
Submitted by admin on Thu, 2021-11-18 19:52 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, November 18, 2021
With the threat of dollar hyperinflation now becoming a reality, it is time to consider what will be required to stabilise the currency, and by extension the other fiat currencies which regard the dollar as their reserve.
Third London gold market rigging settlement brings total payments to $152 million
Submitted by admin on Thu, 2021-11-18 18:47 Section: Daily DispatchesBy Dave Simpson, Rachel O'Brien, Dean Seal, Eric Kroh, and Jon Hill
Law360, New York
Saturday, November 13, 2021
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LONDON -- Barclays Bank PLC, Scotiabank, Societe Generale, and the London Gold Market Fixing Ltd. agreed to pay $50 million to end claims that they illegally fixed prices on the gold market, the putative class of gold traders told a New York federal court Friday.
Dubai says gold-trading allegations are 'lies' and 'attacks'
Submitted by admin on Thu, 2021-11-18 11:36 Section: Daily DispatchesBy Verity Ratcliffe
Bloomberg News
Thursday, November 18, 2021
Dubai's commodities exchange rejected claims it doesn’t do enough to regulate its gold business, while the United Arab Emirates government announced new guidelines for trading the metal.
"I want to address the elephant in the room, namely the consistent and unsubstantiated attacks launched on Dubai by other trading centers and institutions," the chief executive officer of the Dubai Multi Commodities Centre, Ahmed bin Sulayem, said today at a conference in the emirate.
He said they are "lies."
Pam and Russ Martens: Traders flee JPMorganChase and Bloomberg can't figure out why
Submitted by admin on Thu, 2021-11-18 10:24 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Thursday, November 18, 2021
Last Thursday, Hannah Levitt of Bloomberg News published a report about a large trader exodus at JPMorgan Chase. She wrote:
"... By this fall, many of the team's heaviest hitters had gone.
"The setting wasn't some struggling investment bank. It was the equity derivatives desk inside the mighty JPMorgan Chase & Co. -- one of many pockets of employee turnover that have erupted there in recent months, keeping the company's recruiters busy."
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