Daily Dispatches

There is no mention of gold in this report but at least it may strengthen suspicions that the Chinese government has much more gold than it has been reporting to the International Monetary Fund. It's also a reminder that government financial and economic data everywhere is easily falsified, just as the secret March 1999 report of the executive staff of the IMF confirmed that official gold reserve data is misleading because the agency allows member central banks to include leased gold with unencumbered gold:

By Alasdair Macleod
GoldMoney, Toronto
Thursday, June 29, 2023

The increasing number of nations seeking to join the BRICS brings geopolitics into the spotlight. At the time of this writing, existing members, those who have applied to join, and those expressing an interest total 36 nations, with over 60% of the world's population and a third of global GDP.

11:45a Sunday, June 25, 2023

Dear Friend of GATA and Gold:

On this week's Kinesis Money "Live from the Vault" program, London metals trader Andrew Maguire and TF Metals Report publisher Craig Hemke discuss, among other things, the growing stresses on the U.S. banking system, including those from the failure of commercial real estate; the desire of central banks to issue digital currencies; and the conflict between physical and "paper" gold.

The program is 58 minutes long and can be viewed at YouTube here:

By Alasdair Macleod
Thursday, June 22, 2023

It was John Maynard Keynes’ offhand dismissal of Say’s Law, or the Law of the Markets, in 1936 that is leading us into an economic and monetary crisis. 

Keynes dismissed the law to invent a role for the state.

That is why Keynes is so popular in the mainstream establishment. By dismissing market reality, he invented a new branch of economics. Macroeconomics exchanged statistics and mathematics for human action, and the prospect of centralised management substituted for ambiguity.