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Daily Dispatches
Surprise increase in Indian gold import duty; industry fears surge in smuggling
Submitted by cpowell on Fri, 2019-07-05 10:48 Section: Daily DispatchesBy Rajendra Jadhav
Reuters
Friday, July 5, 2019
MUMBAI, India -- India today raised the import duties on gold and other precious metals in a surprise move that industry officials say could dampen retail demand and boost smuggling in the world's second-biggest bullion consumer.
Lower demand from India could weigh on global prices that are trading near their highest level in six years.
J.P. Koning: How much U.S. currency is held overseas?
Submitted by cpowell on Wed, 2019-07-03 21:42 Section: Daily Dispatches9:42p ET Wednesday, July 3, 2019
Dear Friend of GATA and Gold:
Trying to calculate how many U.S. dollars are circulating outside the United States, Bullion Star monetary historian J.P. Koning deduces that the country's greatest export is simply Federal Reserve notes, and the trade is highly profitable to Americans.
Trump tweet puts him at odds with his Fed nominee, Judy Shelton
Submitted by cpowell on Wed, 2019-07-03 17:46 Section: Daily DispatchesBy Victoria Guida
Politico, Washington, D.C.
Wednesday, July 3, 2019
President Donald Trump's call today for the United States to manipulate its currency to boost exports is in direct conflict with the long-held view of at least one key scholar: his newest pick for the Federal Reserve board, Judy Shelton.
Treasury should tell President Trump that U.S. already manipulates the currency markets
Submitted by cpowell on Wed, 2019-07-03 17:42 Section: Daily DispatchesDollar Dips After Trump Says U.S. Should Play 'Currency Manipulation Game' Like Europe, China
By Thomas Franck
CNBC, New York
Wednesday, July 3, 2019
The greenback fell today after President Donald Trump said in a tweet that the U.S. should match China and Europe’s "currency manipulation game."
Hugo Salinas Price: How to truly MAGA
Submitted by cpowell on Wed, 2019-07-03 17:17 Section: Daily Dispatches5:17p ET Wednesday, July 3,2019
Dear Friend of GATA and Gold:
In seeking devaluation of the dollar, Hugo Salinas Price of the Mexican Civic Association for Silver writes today, President Trump seems not to notice what a huge advantage accrues to the United States by virtue of the dollar's use as the world reserve currency.
Russia encouraging gold exports -- to ease the squeeze?
Submitted by cpowell on Wed, 2019-07-03 13:31 Section: Daily DispatchesRussian Central Bank Lowered Its Gold Purchase Price to Encourage Exports, Governor Says
By Andrey Ostroukh and Elena Fabrichnaya
Reuters
Wednesday, July 3, 2019
MOSCOW -- Russia's central bank has been buying gold on the domestic market at less than the industry benchmark to encourage Russian producers to export more of the metal, the governor told Reuters.
Craig Hemke at Sprott Money: Gold futures contract supply is virtually infinite
Submitted by cpowell on Wed, 2019-07-03 10:11 Section: Daily Dispatches10:12p ET Wednesday, July 3, 2019
Dear Friend of GATA and Gold:
Amid the surprising recent rally in gold prices, Craig Hemke of the TF Metals Report, writing at Sprott Money, today cautions monetary metals investors about the nature of the gold futures markets, which are controlled by bullion banks with access to the infinite money of central banks.
Central banks, bullion banks losing control of gold, GATA chairman says
Submitted by cpowell on Tue, 2019-07-02 22:38 Section: Daily Dispatches10:38p ET Tuesday, July 2, 2019
Dear Friend of GATA and Gold:
Interviewed today for Silver Doctors, GATA Chairman Bill Murphy says central banks and their agent bullion banks seem to be losing control of the gold market, but silver remains under their thumb. The interview is 21 minutes long and can be heard at YouTube here:
Short squeeze in gold has begun and has long way to go, Turk tells KWN
Submitted by cpowell on Tue, 2019-07-02 22:20 Section: Daily Dispatches10:20p ET Tuesday, July 2, 2019
Dear Friend of GATA and Gold:
GoldMoney founder and GATA consultant James Turk tells King World News tonight that the short squeeze in gold has begun and has a long way to go:
https://kingworldnews.com/james-turk-the-real-gold-short-squeeze-is-now-...
CHRIS POWELL, Secretary/Treasurer
IMF's Lagarde tapped to head ECB as EU reaches deal on top jobs
Submitted by cpowell on Tue, 2019-07-02 21:59 Section: Daily DispatchesBy Alex Barker, Michael Peel, Jim Brunsden, and Mehreen Khan
Financial Times, London
Tuesday, July 2, 2019
European leaders have agreed a deal to fill the EU's most important jobs, backing Christine Lagarde to lead the European Central Bank and Ursula von der Leyen to be president of the European Commission.
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