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Daily Dispatches
New LME contract will slam 'paper gold,' foretell price 'reset,' Maguire says
Submitted by cpowell on Fri, 2020-07-24 00:20 Section: Daily Dispatches12:27a ET Friday, July 24, 2020
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire, interviewed this week by the TF Metals Report's Craig Hemke for Sprott Money, says the London Metal Exchange soon will offer a gold contract much more closely tied to physical delivery than competing contracts, putting heavy pressure on the "paper gold" system.
Maguire also says:
No reliable demand data for silver, First Majestic's Neumeyer says, but world needs a lot more of the metal
Submitted by cpowell on Thu, 2020-07-23 23:07 Section: Daily Dispatches11:06p ET Thursday, July 23, 2020
Dear Friend of GATA and Gold:
Interviewed this week by Michael McCrae of Kitco News, First Majestic Silver CEO Keith Neumeyer celebrates silver's breakout and says there are no reliable demand figures for the metal, because industrial users fear that investors will front-run them even as demand for silver for "green" energy soars.
Ronan Manly: Gold and silver canaries are soaring out of the financial coal mine
Submitted by cpowell on Thu, 2020-07-23 20:50 Section: Daily Dispatches8:50p ET Thursday, July 23, 2020
Dear Friend of GATA and Gold:
Treasury secretary says U.S. will protect dollar's reserve status
Submitted by cpowell on Thu, 2020-07-23 18:26 Section: Daily Dispatches'We Want a Stable Dollar,' Treasury Secretary Mnuchin Says
By Mark DeCambre
MarketWatch, New York
Thursday, July 23, 2020
Treasury Secretary Steven Mnuchin says that a stable U.S. dollar is the goal of the Trump administration, while, separately, noting that some froth was percolating in the stock market, which has surged since its coronavirus lows seen in late March.
We're beating the bad guys, so will you help us?
Submitted by cpowell on Thu, 2020-07-23 11:06 Section: Daily Dispatches11:07a ET Thursday, July 23, 2020
Dear Friend of GATA and Gold:
While the bad guys -- the government-underwritten riggers of the gold market -- are not going away quietly, they're on the run now, in large part because other governments and investors generally have come to understand the dishonest mechanisms and oppressive purposes of the Western fractional-reserve gold banking system.
Battered U.S. dollar 'hanging by a thread' as virus cases grow
Submitted by cpowell on Thu, 2020-07-23 10:13 Section: Daily DispatchesBy Gertrude Chavez-Dreyfuss
Reuters
Wednesday, July 22, 2020
NEW YORK -- A steady decline in the dollar has accelerated in recent weeks as a resurgent coronavirus outbreak in the United States and improving economic prospects abroad sour investors on the currency.
Profit with mining shares and help GATA -- subscribe to The Calandra Report
Submitted by cpowell on Thu, 2020-07-23 09:58 Section: Daily Dispatches9:58a ET Thursday, July 23, 2020
Dear Friend of GATA and Gold:
With gold and silver straining to break higher and their mining shares already starting to fly, our friend Thom Calandra's financial letter is an ever-more compelling read, and Thom is renewing his generous offer to GATA and to GATA supporters who subscribe.
Foreigners aren't buying into South Africa's gold rally
Submitted by cpowell on Wed, 2020-07-22 11:01 Section: Daily DispatchesBy Robert Brand and Adelaide Changole
Bloomberg News
Tuesday, July 21, 2020
Not even a record rally can entice foreign investors to South African gold stocks.
Can America cut off China from SWIFT?
Submitted by cpowell on Tue, 2020-07-21 22:40 Section: Daily DispatchesBy Cissy Zhou
South China Morning Post, Hong Kong
Wednesday, July 22, 2020
Debates continue among Chinese officials and analysts as to whether the United States has the ability and willingness to reduce or even completely cut off China's access to the U.S. dollar system, reflecting uneasiness in Beijing about the potential ramifications of a financial war with Washington.
New York Sun: Avoiding 'price volatility' is no defense for Fed against Shelton
Submitted by cpowell on Tue, 2020-07-21 22:16 Section: Daily DispatchesJudy Shelton Gets a Green Light for Vote by Full Senate
From The New York Sun
Tuesday, July 21, 2020
The vote of the Senate Banking Committee to confirm Judy Shelton for a governorship of the Federal Reserve marks an important step in the right direction for our central bank.
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