Daily Dispatches

Stefan Gleason: Battle for Venezuela's gold is a lesson in counterparty risk

Submitted by cpowell on Fri, 2019-02-08 11:51 Section: Daily Dispatches

By Stefan Gleason
Money Metals Exchange, Eagle, Idano
Wednesday, February 6, 2019

He who controls the gold makes the rules. That adage applies aptly to the crisis in Venezuela.

An international battle for control of Venezuela's gold is underway. At stake is the country's political future -- and, with it, the global market for its immense oil reserves.

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GATA Chairman Murphy interviewed on what could keep gold rally going

Submitted by cpowell on Fri, 2019-02-08 11:39 Section: Daily Dispatches

11:40a ET Friday, February 8, 2019

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy, interviewed by Dunagun Kaiser for Reluctant Preppers, discusses the recent rise in monetary metals prices and what could keep it going. The interview is 19 minutes long and can be viewed at YouTube here:

https://www.youtube.com/watch?v=93vIsPEHJPE&feature=youtu.be

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No inflation? These guys must not shop for groceries or pay medical insurance premiums

Submitted by cpowell on Thu, 2019-02-07 19:55 Section: Daily Dispatches

Fed's Bullard Says U.S. Likely to Miss Inflation Target for Eighth Year

From Reuters
Thursday, February 7, 2019

WASHINGTON -- The Federal Reserve is likely to miss its 2 percent inflation target for an eighth straight year in 2019, a further sign the U.S. central bank's recent round of rate increases should end, James Bullard, president of the St. Louis Federal Reserve Bank, said today.

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Russia's new shield against U.S. sanctions: A Siberian gold mine

Submitted by cpowell on Thu, 2019-02-07 11:04 Section: Daily Dispatches

By Thomas Grove
The Wall Street Journal
Thursday, February 7, 2019

SUKHOI LOG, Russia -- Beneath this plot of land in southeastern Siberia lie vast stores of gold, according to Russia's biggest gold producer, Polyus PJSC , and tapping them could provide the Russian central bank with a huge and nearly sanction-proof backstop for its currency.

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Maduro sold 40% of Venezuela's gold last year amid cash crunch

Submitted by cpowell on Wed, 2019-02-06 19:12 Section: Daily Dispatches

By Patricia Laya and Alex Vasquez
Bloomberg News
Wednesday, February 6, 2019

President Nicolas Maduro blew through more than 40 percent of Venezuela's gold reserves last year in a desperate bid to fund government programs and pay millions to bondholders.

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French magazine challenges Banque de France's gold lending plans

Submitted by cpowell on Wed, 2019-02-06 12:47 Section: Daily Dispatches

12:45p ET Wednesday, February 6, 2019

Dear Friend of GATA and Gold:

Politique magazine in Paris this week published a report by Edouard Freval about the Banque de France's new interest in lending and swapping gold through JPMorganChase & Co. even as credit and currency risks are rising and other central banks are acquiring the monetary metal to guard against those risks.