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Daily Dispatches
LBMA acknowledges gold liquidity problems amid price volatility
Submitted by cpowell on Tue, 2020-03-24 14:12 Section: Daily DispatchesIt's at the bottom of the Financial Times report below. Maybe liquidity problems are inevitable when people try to convert infinite paper to finite metal.
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Goldman Sachs Tells Clients It Is Time to Buy Gold
By Neil Hume and Henry Sanderson
Financial Times, London
Tuesday, March 24, 2020
Pam and Russ Martens: The fear chart that Wall Street's smart money is watching
Submitted by cpowell on Tue, 2020-03-24 11:53 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Tuesday, March 24, 2020
The chart that tells you how all today's economic troubles are going to end --
https://wallstreetonparade.com/2020/03/this-is-the-fear-chart-that-the-s...
$1 billion poured by traders into biggest credit ETF to front-run Fed
Submitted by cpowell on Tue, 2020-03-24 11:17 Section: Daily DispatchesBy Katherine Greifeld
Bloomberg News
Tuesday, March 24, 2020
The rush into investment-grade bonds picked up after the Federal Reserve said it will step into the market, with the world's largest credit exchange-traded fund seeing the second-biggest inflows in its 18-year history.
Physical silver supply squeeze to get worse, First Majestic's Keith Neumeyer warns
Submitted by cpowell on Mon, 2020-03-23 23:04 Section: Daily Dispatches11:06p ET Monday, March 23, 2020
Dear Friend of GATA and Gold:
First Majestic Silver CEO Keith Neumeyer today tells Daniela Cambone of Kitco News that "the paper markets are completely a fallacy" and First Majestic is withholding sales of its metal in anticipation of higher prices. "It's a very tight market," Neumeyer adds, "and now you can't buy any metal at all."
Fed move awakens gold just as supply of the metal hits a snag
Submitted by cpowell on Mon, 2020-03-23 22:32 Section: Daily DispatchesBy Myra P. Saefong
MarketWatch.com, New York
Monday, March 23, 2020
Gold's one-day dollar surge is one for the record books. But as bullion deliveries hit a snag and mining operations slow, the precious metal may soon see prices rally to new heights.
Michael Hudson: A debt jubilee is the only way to avoid a depression
Submitted by cpowell on Mon, 2020-03-23 11:41 Section: Daily DispatchesBy Michael Hudson
Washington Post
Saturday, March 21, 2020
Even before the novel coronavirus appeared, many American families were falling behind on student loans, auto loans, credit cards, and other payments. America's debt overhead was pricing its labor and industry out of world markets. A debt crisis was inevitable eventually, but covid-19 has made it immediate.
It's not just toilet paper -- dealers can't find enough gold either
Submitted by cpowell on Mon, 2020-03-23 11:06 Section: Daily DispatchesGold Bars in Short Supply Due to Coronavirus Disruption
By Henry Sanderson
Financial Times, London
Monday, March 23, 2020
https://www.ft.com/content/81d915e2-6cef-11ea-89df-41bea055720b
India's jewelry industry closes amid virus outbreak
Submitted by cpowell on Mon, 2020-03-23 10:46 Section: Daily DispatchesBy Swansy Afonso
Bloomberg News
Monday, March 23, 2020
India's jewelry industry has come to a standstill as the government locked down much of the country to try to stem the spread of the coronavirus.
Three Swiss gold refineries suspend production due to virus threat
Submitted by cpowell on Mon, 2020-03-23 10:40 Section: Daily DispatchesBut don't worry, central bankers. Paper mills around the world remain open.
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By Peter Hobson
Reuters
Monday, March 23, 2020
https://www.reuters.com/article/precious-refining-argor/update-1-three-s...
Fed unveils unlimited QE and aid for businesses and states
Submitted by cpowell on Mon, 2020-03-23 10:20 Section: Daily DispatchesBy Christopher Condon, Craig Torres, Matthew Boesler, and Michael McKee
Bloomberg News
Monday, March 23, 2020
The Federal Reserve today announced a massive second wave of initiatives to support a shuttered U.S. economy, including buying an unlimited amount of bonds to keep borrowing costs low and setting up programs to ensure credit flows to corporations and state and local governments.
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