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Daily Dispatches
Alasdair Macleod: The futility of central bank policy
Submitted by admin on Thu, 2021-11-11 13:30 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, November 11, 2021
It is only now becoming clear to the investing public that the purchasing power of their currencies is declining at an accelerating rate.
There is no doubt that yesterday's announcement that the U.S. Consumer Price Index rose by 6.2%, compared with the longstanding 2% target, came as a wake-up call to markets.
Crypto is forbidden for Muslims, Indonesia's national religious council rules
Submitted by admin on Thu, 2021-11-11 10:37 Section: Daily DispatchesBy Arys Aditya
Bloomberg News
Thursday, November 11, 2021
The use of crypto assets as a currency is forbidden for Muslims, according to Indonesia’s council of religious leaders.
The National Ulema Council has deemed cryptocurrency as haram, or banned, as it has elements of uncertainty, wagering, and harm, Asrorun Niam Sholeh, head of religious decrees, said today after the council held an expert hearing. If cryptocurrency as a commodity or digital asset can abide by Shariah tenets and can show a clear benefit, then it can be traded, he added.
Robert Lambourne: BIS gold swaps fell slowly again in October
Submitted by admin on Wed, 2021-11-10 12:29 Section: Daily DispatchesBy Robert Lambourne
Wednesday, November 10, 2021
The recently released October statement of account of the Bank for International Settlements --
https://www.bis.org/banking/balsheet/statofacc211031.pdf
-- contains information suggesting a decrease of about 24 tonnes in the bank's gold swaps, from 438 tonnes in September to 414 tonnes in October.
This compares to the record high estimated at 552 tonnes as of February 25 this year.
Pam and Russ Martens: Fed chairman and JPM chief met privately Sept. 30 and weird stuff followed
Submitted by admin on Wed, 2021-11-10 11:27 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Wednesday, November 10, 2021
According to Federal Reserve Chairman Jerome Powell's daily appointment calendar, he met privately with Jamie Dimon, the chairman and CEO of JPMorgan Chase, from 3:00 to 3:30 p.m. on Thursday, September 30.
JPMorgan Chase is the largest bank in the United States. It is supervised -- badly -- by the Federal Reserve. Just how bad is that supervision? JPMorgan Chase is the only U.S. bank to have been charged by the Justice Department with five felony counts since 2014 -- admitting to all of them.
Calandra Report subscribers are ready for metals' breakout as they help GATA
Submitted by admin on Wed, 2021-11-10 11:23 Section: Daily Dispatches11:20a ET Wednesday, Noveber 10, 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.
With metals prices showing signs of recovery amid the storm of inflation, Thom has revived his special offer to GATA supporters -- a discount on a year's subscription with half the $169 payment being donated to GATA, no strings attached.
Craig Hemke at Sprott Money: From Powell to Brainard at the Fed
Submitted by admin on Tue, 2021-11-09 16:06 Section: Daily Dispatches4p ET Tuesday, November 9, 2021
Dear Friend of GATA and Gold:
Craig Hemke of the TF Metals Report, writing at Sprott Money today, suspects that President Biden plans to replace Federal Reserve Chairman Jerome Powell with Fed Board of Governors member Lael Brainard, a proponent of even more money creation that Powell has supported, and that this is why bond prices are rising despite soaring inflation and gold is gaining strength.
Hemke's analysis is headlined "From Powell to Brainard" and it's posted at Sprott Money here:
Pam and Russ Martens: Fed report shows high leverage threatens financial stability
Submitted by admin on Tue, 2021-11-09 12:05 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Tuesday, November 9, 2021
The word "leverage" appears 107 times in the Federal Reserve’s Financial Stability Report that was released yesterday. The second mention provides a warning of what happens when leverage blows up the financial system -- something Americans learned all too well in 2008:
Some animals are still more equal than others
Submitted by admin on Tue, 2021-11-09 11:55 Section: Daily DispatchesVietnam Govt. Minister Was Fed L1,450 Gold-Plated Steak After Laying Flowers at Karl Marx's Grave
By Ella Glover
The Independent, London
Monday, November 9, 2021
Vietnam's Minister of Public Security has been criticised for eating a a slice of L1,450 gold-plated steak at Salt Bae's London restaurant just a day after laying flowers at Karl Marx's grave.
The minister, General To Lam, was seen eating at the Instagram-famous chef's London restaurant Nusr-Et restaurant in Knightsbridge, which has been criticised for being outrageously overpriced.
Inflation surge fuels negative real interest rates for leading economies
Submitted by admin on Tue, 2021-11-09 11:35 Section: Daily DispatchesAnother reason why gold price suppression must be enforced ever-more aggressively to provide camouflage for currency debasement -- and mustn't be acknowledged by mainstream financial news organizations.
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Inflation Surge Fuels Negative Real Interest Rates for Leading Economies
By John Paul Rathbone and Valentina Romei
Financial Times, London
Tuesday, November 9, 2021
Newcrest to buy Canadian gold miner Pretium in $US2.8 billion deal
Submitted by admin on Tue, 2021-11-09 10:50 Section: Daily DispatchesBy Nick Toscano
Sydney Morning Herald
Tuesday, November 9, 2021
Top Australian gold miner Newcrest has struck a $US2.8 billion deal to acquire Toronto-listed Pretium Resources, marking a major escalation of the company’s expansion plans in the Americas.
Melbourne-based Newcrest said today the cash-and-shares deal would lift its gold production volumes by about 15% to more than 2 million ounces of the precious metal a year.
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