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Daily Dispatches
Ambrose Evans-Pritchard: Why the Fed will again have to slash rates to zero and relaunch QE
Submitted by admin on Fri, 2023-10-06 10:53 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Friday, October 6, 2023
The U.S. economic expansion is being kept afloat only by extreme fiscal stimulus and war-time deficits, an astonishing state of affairs at the top of the cycle.
The federal government is unable to fund this scale of borrowing from U.S. domestic savings, and global creditors are no longer willing to fund it either at bearable cost.
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Pam and Russ Martens: Despite Citibank's record bailout in 2008, 85.5% of its deposits lack FDIC insurance
Submitted by admin on Thu, 2023-10-05 11:35 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Thursday, October 5, 2023
As evidenced by the speech that the chairman of the Federal Deposit Insurance Corp., Martin Gruenberg, delivered at a conference yesterday, the FDIC is very much aware that both the level of uninsured deposits and the concentration of those uninsured deposits among a handful of mega banks is a serious problem for the U.S. banking system.
Gruenberg didn't name names, but we will do that in this article.
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Alasdair Macleod: Unwinding the financial system
Submitted by admin on Thu, 2023-10-05 11:25 Section: Daily DispatchesBy Alasdair Macleod
Head of Research, GoldMoney, Toronto
via Schiff Gold, White Plains, New York
Thursday, October 5, 2023
This article looks at the collateral side of financial transactions and some significant problems that are already emerging.
Forex reserves remain Asia's first defense vs. relentless dollar
Submitted by admin on Wed, 2023-10-04 17:11 Section: Daily DispatchesBy Subhadip Sircar and Swati Pandey
Bloomberg News
Wednesday, October 4, 2023
The dollar's recent rally has been relentless. But Asia's central banks have the firepower to limit the fallout.
Policy makers in the region have more than $5.5 trillion of foreign-exchange reserves that they can deploy to shore up their currencies, according to calculations by TD Securities, using data compiled by Bloomberg. The stockpile reached a record high of $5.9 trillion in 2021.
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The world's dollar addiction is hard to kick
Submitted by admin on Wed, 2023-10-04 14:45 Section: Daily DispatchesBy Jon Sindreu
The Wall Street Journal
Wednesday, October 4, 2023
Many central banks and governments want to kick their dollar addiction. They aren't getting very far -- except when forced.
The percentage of official foreign-exchange reserves allocated to U.S. dollars globally was 58.9% in the second quarter of the year, figures published a few days ago by the International Monetary Fund show, broadly unchanged from the 25-year-low first reached in the fourth quarter of 2020.
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Jan Nieuwenhuijs: Gold held up well in September against rising real rates
Submitted by admin on Tue, 2023-10-03 16:23 Section: Daily DispatchesBy Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Tuesday, October 3, 2023
Despite the gold price declining for several months, its performance is extremely strong considering sharply rising real interest rates. To measure gold’s performance against real rates (TIPS yield) I’m introducing the “Gold Price–TIPS Model Tracker” to improve our understanding of how the gold price is set and its future potential.
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Pam and Russ Martens: JPMorgan Chase gets another fine, for 40 million derivative violations
Submitted by admin on Mon, 2023-10-02 11:58 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, October 2, 2023
In the eyes of Wall Street veterans who are paying close attention to what's going down at the mega banks on Wall Street, federal regulators are making the crime wave at these banks worse, not better. The federal fines for egregious behavior at these banks are getting smaller and more meaningless by the day.
Timing, speakers will make New Orleans conference more valuable than ever
Submitted by admin on Sat, 2023-09-30 13:21 Section: Daily DispatchesSo consider joining GATA's Bill Murphy and Chris Powell there.
* * *
By Brien Lundin
Publisher, Gold Newsletter
CEO, the New Orleans Investment Conference
Saturday, September 30, 2023
The "world's greatest investment event" is now just a few weeks away.
In other words, from a practical standpoint, this may be your last chance to make plans to attend one of the most valuable and important investment events of recent decades.
It's vital for you to be there, for two reasons.
U.S. dollar share of world currency reserves stays flat in second quarter, IMF says
Submitted by admin on Sat, 2023-09-30 12:56 Section: Daily DispatchesBy Gertrude Chavez-Dreyfuss
Reuters
Friday, September 29, 2023
NEW YORK -- The U.S. dollar's share of global currency reserves reported to the International Monetary Fund was 58.9% in the second quarter, unchanged from the first three months of the year, IMF data showed today.
Claims in U.S. dollars rose 0.8% to $6.576 trillion in the second quarter, but were down 1% from a year earlier.
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Chinese gold premiums ease but remain high
Submitted by admin on Fri, 2023-09-29 19:35 Section: Daily DispatchesChinese Gold Demand Robust But Indian Buyers Unimpressed by Price Dip
By Rajendra Jadhav and Deep Kaushik Vakil
Reuters
Friday, September 29, 2023
Physical gold premiums eased slightly in top consumer China this week but remained elevated on high investor demand amid a broadly weaker yuan and economic worries, while lower prices in India failed to boost retail purchases.
Chinese dealers charged premiums of between $80 and $100 an ounce over global spot prices, compared with $60-$130 last week.
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