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Daily Dispatches
Debt ceiling fight pushes money market funds to brink
Submitted by admin on Wed, 2021-09-01 12:00 Section: Daily DispatchesAnd people sneer that gold doesn't pay interest, though it does when, like anything else, it is leased. To try to avoid negative interest rates, maybe some brokerage house should start a money-market fund that holds gold instead of government currencies -- if, of course, the government would allow any brokerage house to demonstrate gold's enduring utility as money.
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By Kate Duguid
Financial Times, London
Wednesday, September 1, 2021
Around $11 billion in gold was smuggled into India last year, stashed inside wigs, jeans, shoes
Submitted by admin on Tue, 2021-08-31 23:36 Section: Daily DispatchesBy Lukas I. Alpert
MarketWatch, New York
Tuesday, August 31, 2021
The man arriving at Kannur International Airport in Kerala in southern India caught the attention of customs officials right away.
A quick search of his clothes revealed why -- in between the two stitched-together pairs of jeans he was wearing was a thin layer of gold dust that had been made into a paste and applied like paint to the cloth. In all, the man was carrying some 302 grams of gold in his pants worth about $20,000, authorities said.
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Craig Hemke at Sprott Money: After the Jackson Holedown
Submitted by admin on Tue, 2021-08-31 17:28 Section: Daily Dispatches5:26p ET Tuesday, August 31, 2021
Dear Friend of GATA and Gold:
Writing at Sprott Money, the TF Metals Report's Craig Hemke says this Friday's U.S. jobs report likely will be construed as a signal of whether the Federal Reserve will start slowing its bond purchases, and if observers think those purchases will diminish, the dollar will strengthen and gold will weaken.
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Good Mining Exploration Resumes Search
for Gold at Golden Target Project in Ontario
Nearly 30% of Brazil's gold exports are illegal, report says
Submitted by admin on Mon, 2021-08-30 20:57 Section: Daily DispatchesBy Lisandra Paraguassu
Reuters
Monday,August 30, 2021
BRASILIA -- Roughly 28% of Brazilian gold exports in 2019 and 2020 likely came from illegal mines, a report by public prosecutors and the Federal University of Minas Gerais found, pointing to widespread forging of documents and lack of effective law enforcement.
The report found indications of illegality related to 48.9 tonnes of gold in the two-year period.
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Freedom-of-information lament is ironic as FT aids concealment of gold market rigging
Submitted by admin on Mon, 2021-08-30 14:11 Section: Daily Dispatches2:15p ET Monday, August 30, 2021
Dear Friend of GATA and Gold:
Today's edition of the Financial Times carries a lament by reporter Chris Cook about the British government's four-year obstruction of his freedom-of-information request for access to two pages of a ministerial diary.
The lament is headlined: "UK Officials Are Going to Great Lengths to Keep Their Secrets Secret" and it can be found here:
USAGold's September 'News & Views' says gold is also a 'lifestyle decision'
Submitted by admin on Mon, 2021-08-30 10:42 Section: Daily Dispatches10:40a ET Monday, August 30, 2021
Dear Friend of GATA and Gold:
"Gold ownership," USAGold's September "News & Views" letter contends, "has as much to do with personal philosophy and how we wish to conduct our lives as it does finance and economics. In many ways, it is a rational portfolio decision that suits the times, but it is also a lifestyle decision that provides some peace of mind no matter what happens with the pandemic, the mania on Wall Street, or the political maneuvering in Washington."
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Inflation will escort gold to its revival, Paulson says, scorning cryptocurrencies
Submitted by admin on Mon, 2021-08-30 10:30 Section: Daily DispatchesBillionaire Paulson, Who Shorted Subprime, Calls Crypto 'Worthless' Bubble
By Steven Crabill
Bloomberg News
Monday, August 30, 2021
Ever since John Paulson bet against the U.S. housing market more than a decade ago, people keep asking him about his next big trade.
The billionaire hasn't found anything to rival his massive short, but it's hard to top the $20 billion that Paulson made for himself and investors when subprime mortgage bonds collapsed and ignited the worst financial crisis since the Great Depression.
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Mobius says hold 10% in gold as currencies will be devalued
Submitted by admin on Mon, 2021-08-30 09:27 Section: Daily DispatchesBy Abhishek Vishnoi and Ranjeetha Pakiam
Bloomberg News
Monday, August 30, 2021
Veteran investor Mark Mobius said investors should have 10% of a portfolio in gold as currencies will be devalued following the unprecedented stimulus rolled out to fight the coronavirus pandemic.
Another money-back offer from the New Orleans Investment Conference
Submitted by admin on Mon, 2021-08-30 09:21 Section: Daily DispatchesBy Brien Lundin, CEO
New Orleans Investment Conference
Monday, August 30, 2021
We have important developments regarding this year’s New Orleans Investment Conference, to be held Tuesday-Friday, October 19-22.
If you're like many people during these crazy times, you may be considering skipping this year’s New Orleans Conference. And I’m afraid that might be a grave mistake -- especially in light of the most recent data we’re getting on Covid infections.
Dragons fly as Chinese millennials take a shine to gold
Submitted by admin on Mon, 2021-08-30 09:19 Section: Daily DispatchesBy Emily Chow
Reuters
Sunday, August 29, 2021
SHANGHAI -- For many affluent young Chinese consumers, modern simplicity is out and tradition is back in when it comes to jewellery.
Sales of gold bracelets, pendants, earrings, and necklaces that draw on dragons, phoenixes, peonies, and other traditional Chinese patterns and symbols are flying among consumers, especially those in their 20s and 30s, helping drive a rebound in gold demand in the country after a pandemic-induced slump.
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