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Daily Dispatches
China's $9 trillion moral hazard is now too big to ignore
Submitted by cpowell on Wed, 2017-02-22 10:15 Section: Daily DispatchesFrom Bloomberg News
Wednesday, February 22, 2017
China may be about to embark on its most ambitious -- and perilous -- campaign to convince investors that they shouldn’t depend on a bailout when markets go south.
Turk sees indications of imminent short squeeze in silver
Submitted by cpowell on Tue, 2017-02-21 10:48 Section: Daily Dispatches10:50a ET Tuesday, February 21, 2017
Dear Friend of GATA and Gold:
GoldMoney founder and GATA consultant James Turk, in comments posted today at King World News, describes indications of an imminent short squeeze in silver as investment banks that are short the metal struggle to keep it below $18. Turk's comments are posted at KWN here:
Chinese firm said to have used tungsten to manufacture fake gold bars
Submitted by cpowell on Tue, 2017-02-21 07:52 Section: Daily DispatchesShanghai Gold Exchange Denies Connection with Fraudulent Manufacturer
By Leng Cheng
Shanghai Daily
Tuesday, February 21, 2017
The Shanghai Gold Exchange today denied a media report that it was connected with a supplier that has allegedly cheated loans with fake gold bars.
After seven years of bailouts, Greeks just sink deeper in poverty
Submitted by cpowell on Mon, 2017-02-20 19:38 Section: Daily DispatchesBy Karolina Tagaris
Reuters
Monday, February 20, 2017
ATHENS, Greece -- Greek pensioner Dimitra says she never imagined a life reduced to food handouts: some rice, two bags of pasta, a packet of chickpeas, some dates, and a tin of milk for the month.
Bullion Star graphic describes how 'paper gold' controls the metal's price
Submitted by cpowell on Mon, 2017-02-20 13:08 Section: Daily Dispatches1:10p ET Monday, February 20, 2017
Dear Friend of GATA and Gold:
Bullion Star today publishes an elaborate informational graphic describing how bullion banks create almost infinite amounts of imaginary "paper gold" to control the monetary metal's price and prevent the price from being determined by physical demand.
Bullion Star summarizes the graphic's topics this way:
JPMorgan, HSBC among dozen banks facing fines for rigging S. African rand
Submitted by cpowell on Mon, 2017-02-20 07:50 Section: Daily DispatchesBy Renee Bonorchis and Michael Cohen
Bloomberg News
Wednesday, February 15, 2017
South Africa's antitrust investigators have urged that a dozen banks be fined for colluding and manipulating trades in the rand, potentially becoming the latest in a string of penalties handed to lenders around the world for rigging currencies.
World Gold Council fails to ask Greenspan about central bank intervention against gold
Submitted by cpowell on Sat, 2017-02-18 20:51 Section: Daily Dispatches8:54p ET Saturday, February 18, 2017
Dear Friend of GATA and Gold:
Arizona bill would remove state tax on profit from sale of gold coins
Submitted by cpowell on Sat, 2017-02-18 20:21 Section: Daily DispatchesBy Howard Fischer
Arizona Daily Star, Tucson
Sunday, February 12, 2017
PHOENIX, Arizona -- Arguing that federal policies have made paper money "virtually worthless," Arizona lawmakers are moving to allow residents to invest in gold coins and not have to pay state taxes on any profits they make when they sell them.
Investors worldwide could become plaintiffs in class-action suit in UK against bullion banks
Submitted by cpowell on Sat, 2017-02-18 19:56 Section: Daily Dispatches7:57p ET Saturday, February 18, 2017
Dear Friend of GATA and Gold:
Investors in nine countries have responded to the announcement two weeks ago that a British law firm, Leon Kaye Solicitors, is contemplating bringing a class-action lawsuit in the United Kingdom under that country's Competition Act against bullion banks suspected of manipulating the gold and silver markets:
London bullion banks will pretend to be transparent next week
Submitted by cpowell on Fri, 2017-02-17 21:34 Section: Daily DispatchesBanks to Test London Gold-Trading Platform in Transparency Push
By Eddie Van Der Walt
Bloomberg News
Friday, February 17, 2017
Some banks will start testing a new bullion-trading platform next week as part of the London Bullion Market Association's push to make the city's over-the-counter market more modern and transparent.
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