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Daily Dispatches
Indonesia eyes greater financial inclusion with gold-based blockchain system
Submitted by admin on Tue, 2021-06-01 22:23 Section: Daily DispatchesBy Tracy Hu and Rebecca Isjwara
S&P Global, New York
Monday, May 31, 2021
The Indonesian government's plan to launch a blockchain-based, precious metals-backed payments and savings platform outside the banking system will likely drive financial inclusion further in a country where about 51% of adults, or 95 million citizens, are unbanked.
Craig Hemke at Sprott Money: Gold price dips are 'transitory,' not inflation
Submitted by admin on Tue, 2021-06-01 21:46 Section: Daily Dispatches9:45p ET Tuesday, June 1, 2021
Dear Friend of GATA and Gold:
Inflation isn't going to be "transitory," as the Federal Reserve keeps insisting, but dips in the price of gold will be, Craig Hemke of the TF Metals Report writes tonight at Sprott Money.
The Federal Reserve soon will commandeer and suppress all interest rates with "yield-curve control," Hemke writes, and this will be "incredibly bullish" for gold.
Hemke's analysis is headlined "Gold Price Dips Are Transitory" and it's posted at Sprott Money here:
Peru's elite in panic at prospect of hard-left victory in presidential election
Submitted by admin on Tue, 2021-06-01 11:26 Section: Daily DispatchesBy Michael Stott
Financial Times, London
Tuesday, June 1, 2021
Ravaged by one of the world's worst coronavirus outbreaks, wracked by political turmoil, scarred by corruption scandals and blighted by worsening poverty, Peru will choose its fourth president in under a year on June 6.
Described by many observers as a choice between the lesser of two evils, the second-round run-off election pits Pedro Castillo, a rural primary school teacher turned hard-left populist, against Keiko Fujimori, the widely disliked scion of an authoritarian president who ruled in the 1990s.
USAGold's June 'News & Views' letter highlights likely impact of inflation and Basel 3
Submitted by admin on Tue, 2021-06-01 11:16 Section: Daily Dispatches11:12a ET Tuesday, June 1, 2021
Dear Friend of GATA and Gold:
"Inflation's Surprise Spring Offensive" is the headlined on USAGold's "News & Views" letter for June. But there are also sections on the recent strong demand for gold that has been vaulted at the Bank of England, the potential impact of the "Basel 3" regulations, and the usual interesting quotes.
The June "News & Views" letter is posted in the clear at USAGold here:
Eurozone inflation tops ECB target for first time since 2018
Submitted by admin on Tue, 2021-06-01 10:55 Section: Daily DispatchesBy Martin Arnold
Financial Times, London
Tuesday, June 1, 2021
Eurozone inflation rose to 2 percent in May, the first time the rate has surpassed the European Central Bank's target in more than two years, complicating policymakers’ decision next week on whether to maintain its ultra-loose monetary policy.
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Hugo Salinas Price: On June 28 the BIS caves in to Russia and China
Submitted by admin on Mon, 2021-05-31 18:24 Section: Daily Dispatches6:22p Monday, May 31 2021
Dear Friend of GATA and Gold:
Hugo Salinas Price of the Mexican Civic Association for Silver speculates today that Russian President Vladimir Putin belatedly called off an important speech in April because he was to have announced a link between the ruble and gold and this frightened the Bank for International Settlements, which has its own plans for reforming the gold market.
China raises banks' FX requirements to rein in yuan
Submitted by admin on Mon, 2021-05-31 12:08 Section: Daily DispatchesFrom Reuters
Sunday, May 30, 2021
SHANGHAI -- China's central bank has directed financial institutions to hold more foreign exchange in reserve, a move that analysts say could help temper a rally in the yuan after the currency hit a three-year high against the dollar on Monday.
The People's Bank of China said it will raise the FX reserve requirement ratio for financial institutions to 7% from 5%, from June 15. The increase will make it more expensive for banks to hold dollars.
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Maybe an anti-U.S. and anti-dollar faction is running the BIS now
Submitted by admin on Sun, 2021-05-30 23:28 Section: Daily Dispatches11:43p ET Sunday, May 30, 2021
Dear Friend of GATA and Gold:
Among the many analytical reports arguing that economic fundamentals are such that the gold price should rise sharply, the annual "In Gold We Trust" reports by Incrementum AG in Liechtenstein always have provided the most supporting documentation. The one published last week is no exception:
U.S. Mint postpones coin order acceptance, admits silver shortage
Submitted by admin on Fri, 2021-05-28 22:47 Section: Daily DispatchesFrom the United States Mint, Washington, D.C.
via Facebook.com
Friday, May 28, 2021
https://www.facebook.com/UnitedStatesMint/photos/a.331791684458/10159719548979459
The United States Mint is committed to providing the best possible online experience to its customers.
Dave Kranzler: Money supply growth + inflation = cheap gold, silver, and mining stocks
Submitted by admin on Fri, 2021-05-28 12:23 Section: Daily DispatchesBy Dave Kranzler
Investment Research Dynamics, Denver
Friday, May 28, 2021
"April 2021 money supply and monetary base growth continued to explode."
-- John Williams, Shadowstats.com
Williams is referencing the "base" monetary aggregates, which are compiled monthly. The Fed's balance sheet grows by the week, hitting $7.922 trillion as of May 19. It has doubled plus another 13% since September 2019, when "QE" was restarted.
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