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Daily Dispatches
Chris Powell: How might gold price suppression policy end?
Submitted by admin on Thu, 2023-05-11 05:32 Section: Daily DispatchesThe slides accompanying this presentation can be viewed here:
https://gata.org/sites/default/files/MiningInvestmentAsia_Singapore2023-05-%20v3.pdf
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SLIDE 1: TITLE
Remarks by Chris Powell, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Mining Investment Asia Conference
Marriott Tang Plaza Hotel, Singapore
Thursday, May 11, 2023
Craig Hemke at Sprott Money: Bullion bank trade-at-settlement abuse continues
Submitted by admin on Thu, 2023-05-11 04:51 Section: Daily Dispatches4:45p SGT Thursday, May 11, 2023
Dear Friend of GATA and Gold:
Craig Hemke of the TF Metals Report, writing at Sprott Money, today updates his readers about the continuing use by bullion banks of the "trade at settlement" mechanism for controlling the gold price.
Hemke's analysis is headlined "Bullion Bank Trade-at-Settlement Abuse Continues" and it's posted at Sprott Money here:
https://www.sprottmoney.com/blog/Bullion-Bank-TAS-Abuse-Continues-May-10-2023
'Weird gold trick' -- revaluation -- may not be so weird after all
Submitted by admin on Wed, 2023-05-10 05:12 Section: Daily Dispatches5:21p SGT Wednesday, May 10, 2023
Dear Friend of GATA and Gold:
In his commentary yesterday at the Daily Reckoning, author and market analyst James G. Rickards described the "weird gold trick" by which the U.S. Treasury could conjure $500 billion from the Federal Reserve to help avert a debt ceiling shutdown. The "trick: is gold revaluation, official repricing of the U.S. gold reserve of 8,133 tonnes from the antique valuation of $42.22 per ounce to a market price of more than $2,000 per ounce.
Mexican president backs U.S. dollar as world's 'principal currency'
Submitted by admin on Tue, 2023-05-09 09:34 Section: Daily DispatchesFrom Reuters
Monday, May 8, 2023
MEXICO CITY -- Mexican President Andres Manuel Lopez Obrador gave the U.S. dollar a vote on confidence Monday after he was asked if a weakening greenback might spur a move to diversify Mexico's foreign currency reserves.
"We are going to continue considering the dollar as the world's principal currency," Lopez Obrador told a press conference.
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Ed Steer: Six consecutive withdrawals from SLV
Submitted by admin on Tue, 2023-05-09 03:37 Section: Daily Dispatches3:35p SGT Tuesday, May 9, 2023
Dear Friend of GATA and Gold (and Silver):
The weekend edition of Ed Steer's Gold and Silver Digest, published by GATA board member Ed Steer, is headlined "Six Consecutive Withdrawals from SLV" and it's posted in the clear at SilverSeek here:
https://silverseek.com/article/six-consecutive-withdrawals-slv
Gold and silver dips will be shallow as official intervention gets harder, Maguire says
Submitted by admin on Sun, 2023-05-07 02:04 Section: Daily Dispatches1p ICT Sunday, May 7, 2023
Dear Friend of GATA and Gold (and Silver):
In his weekly appearance on Kinesis Money's "Live from the Vault" program with Shane Morand, London metals trader Andrew Maguire predicts that dips in gold and silver futures prices will be shallow because speculators have mostly been driven out of the market and physical demand is strong.
Official intervention in the monetary metals markets is becoming more difficult, Maguire says.
The interview is 37 minutes long and can be viewed at YouTube here:
Alasdair Macleod: Why gold is always money
Submitted by admin on Thu, 2023-05-04 11:56 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, May 4, 2023
That America faces a severe banking crisis has become plain to see, but the authorities' response less so. Almost certainly the crisis has much further to go in America, spreading to other jurisdictions. We can only hope that central banks will protect all depositors, but that is far from certain in this early stage.
India and Russia suspend talks to settle trade in rupees
Submitted by admin on Thu, 2023-05-04 06:56 Section: Daily DispatchesBut both nations seem to have a lot of a stronger currency, a shiny yellow metal. ...
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By Aftab Ahmed and Swati Bhat
Reuters
Thursday, May 4, 2023
India and Russia have suspended efforts to settle bilateral trade in rupees, after months of negotiations failed to convince Moscow to keep rupees in its coffers, two Indian government officials and a source with direct knowledge of the matter said.
U.S. Rep. Alex Mooney, advocate of a free gold market, seeks West Virginia Senate seat
Submitted by admin on Wed, 2023-05-03 03:14 Section: Daily DispatchesRace for West Virginia U.S. Senate seat heating up
From WOWK-TV, Huntington, West Virginia
Tuesday, May 2, 2023
CHARLESTON, W. Va. -- The race for a contested U.S. Senate seat in West Virginia is already getting heated. It also looks to get very expensive.
It is a contested Republican primary, and that usually means a lot of sharp elbows and advertising money being spent.
"Liberal Jim Justice just can't be trusted," says an attack ad produced for the U.S. Senate campaign of U.S. Rep. Alex Mooney, R-West Virginia.
Ambrose Evans-Pritchard: Half of U.S. banks may be insolvent and this is how a credit crunch begins
Submitted by admin on Wed, 2023-05-03 00:10 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Tuesday, May 2, 2023
The twin crashes in U.S. commercial real estate and the U.S. bond market have collided with $9 trillion uninsured deposits in the American banking system. In the cyber age such deposits can vanish in an afternoon.
The second and third biggest bank failures in U.S. history have followed in quick succession. The U.S. Treasury and Federal Reserve would like us to believe that they are "idiosyncratic." That is a dangerous evasion.
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